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2021-09-30-accounts

Page
Administrative
Details
Trustees'
Annual
Report
Independent
Auditors'		 Report to the Trustees
ofSir Thomas White's Charity
Statement of Financial Activities 2021 10
Statement
of Financial		 Activities 2020
Balance Sheet 12
Statement
ofCash Flows
Notes to the Financial Statements 14

Restricted
income Endowment Total Total
funds funds 2021 2020
~see e e11
Notes E E E
Income and endowments from:
Investment
income
Rents receivable 1,684,555 1,684,555 1,702,503
Interest on government stocks
Dividends
and interest on		 quoted
securities 1,059,845 1,059,845 887,245
Interest on bank deposits 172 172 7,829
Sale of rights issue 70 70 88
Other income 31,000 31,000
Total income and endowments 2,775,642 2,775,642 2,597,665
Expenditure
on:
Raising funds 265,797 125,294 391,091 332,407
Charitable
activities
Clear yearly income available
for distribution 2,407,956 2,407,956 2,295,478
Distribution
related		 support costs 19,089 19,089 18,577
Total expenditure 2,692,842 125,294 2,818,136 2,646,462
Net gains/(losses)
on investments 10,418,702 10,418,702 (1,678,846)
Net income
/ Net movement		 in funds 82,800 10,293,408 10,376,208 (1,727,643)
Reconciliation offunds:
Total funds brought forward 710,484 72,626,553 73,337,037 75,064,680
Total funds carried forward 793,284 82,919,961 83,713,245 '73,337,037

Restricted
income Endowment Total
funds funds 2020
Notes
Income and endowments from:
Investment
income
Rents receivable 1,702,503 1,702,503
Interest on government stocks
Dividends
and interest on		 quoted
securities 887,245 887,245
Interest on bank deposits
Sale of rights issue		 7,829
88		 7,829
88
Other income
Total income and endowments 2,597,665 2,597,665
Expenditure
on:
Raising funds 219,082 113,325 332,407
Charitable
activities
Clear yearly income available
for distribution 2,295,478 2,295,478
Distribution
related		 support costs 18,577 18,577
Total expenditure 2,533,137 113,325 2,646,462
Net gains/(losses)
on investments (1,678,846) (1,678,846)
Net income
/ Net movement		 in funds 64,528 (1,792,171) (1,727,643)
Reconciliation
offunds:
Total funds brought forward 645,956 74,418,724 75,064,680
Total funds carried forward 710,484 72,626,553 73,337,037

Notes 2021 2020
FIXEDASSETS
Investments 80,689,106 72,473,228
CURRENT ASSETS
Debtors 501,055 915,852
Cash at bank and in hand 5,468,999 2,716,386
5,970,054 3,632,238
CREDITORS: Amounts falling
due within one year 8 (2,945,915) 2768429
NET CURRENT ASSETS/(LIABILITIES) 3,024,139 863,809
NET ASSETS 83,713,245 73,337,037
FUNDS OF THE CHARITY:
Restricted income funds 12 793,284 710,484
Endowment
funds		 82,919,961 72,626,553
TOTAL CHARITY FUNDS: 83,713,245 73,337,037

for the year ended 30Se ptember 2021
Notes 2021 2020
E
Net cash flow from operating
activities		 13 (2,194,783) (4,309,713)
Cash flow from investing
activities
Payments
to acquire investment
properties
Receipts from sales of investment
properties
Payments
to acquire quoted investments
Receipts from sales ofquoted investments
Interest received
Dividends
received
Rents received from investment
properties		 (665,213)
292,707
(5,221,186)
7,796,516
172
1,059,845
1,684,555		 (2,722,903)
1,605,072
(10,599,023)
9,506,152
7,829
887,245
1,702,503
Net cash flow from investing
activities		 4,947,396 386,875
Net (decrease)/increase
in cash and cash equivalents		 2,752,613 (3,922,838)
Cash and cash equivalents
at 1October 2020		 2,716,386 6,639,224
Cash and cash equivalents
at 30September 2021		 5,468,999 2,716,386
Cash and cash equivalents
consists of:
Cash at bank and in hand
Short term deposits		 5,468,999 2,716,386
Cash and cash equivalents
at 30September 2021		 5,468,999 2,716,386
Analysis ofchanges
in net debt
2020 Gashflow 2021
E E
Cash and Cash Equivalents 2,716,386 2,752,613 5,468,999
Total net debt 2,716,386 2,752,613 5,468,999

COSTS OF RAISING FUNDS COSTS OF RAISING FUNDS 2021 2020
Restricted
income fund:
Investment
Properties:
Ground
rent, council		 tax and water rates 6,550 6,033
Repairs 68,795 60,871
Insurances 16,959 12,468
Legal and other professional charges 28,457 30,171
Planning,
consultant		 and architect's charges 27,377 (1,316)
Agents fees 114,518 107,254
Compensation
payment		 989
Other 3,141 2,612
Investment
Portfolio:
Portfolio management charge
Endowment
fund:
Investment
Porffolio:
Portfolio management charge 122,163 109,173
Foreign exchange losses 3,131 4,152
391,091 332,407

CLEAR YEARLY INCOME AVA CLEAR YEARLY INCOME AVA ILA BLE FOR DI STRIBUTION STRIBUTION STRIBUTION
The trustees
have no discretion		 in the distribution of the "clear yearly income" which is still made in
70ths, in accordance with the original Trust Deed and subsequent amendments.
The		 beneficiaries are
as follows:-
Number 2021 2020
of70ths E
The Trustees of:
General Charity (Coventry)
Comprising:
Coventry Trustees 8 275,196 262,341
Coventry
General		 Charities 24 825,585 787,021
Clerk to Coventry General Charities 1 34,399 32,793
Coventry Stock Charity 4 137,597 131,170
Sir Thomas White's
Northampton		 Charity 8 275,195 262,340
Leicester, SirThomas White's Loan Charity 8 275,195 262,340
Nottingham,
Sir Thomas White's		 Loan Money Charity 8 275,195 262,340
Warwick, The Charity ofSirThomas White 8 275,195 262,340
The Master and Wardens,
Merchant		 Taylors' Company 1 34,399 32,793
70 2,407,956 2,295,478

FIXEDASSET INVESTMENTS
Freehold
Investment Quoted
~Pro erties tnvestments Tntet
E E E
Fair value at 1 October 2020 44,300,300 28,172,928 72,473,228
Additions 665,213 5,221,186 5,886,399
Disposals (292,707) (7,796,516) (8,089,223)
Net realised and unrealised 5,806,893 4,611,809 10,418,702
profits
Fair value at 30September 2021 50,479,699 30,209,407 80,689,106
Payton, Chartered
S		 urveyors.
2021 2020
E
Quoted investments at market value comprise:
Other UK Fixed Interest 2,395,853 3,062,225
Ordinary stocks and shares 27,813,554 25,110,703
30,209,407 28,172,928

DEBTORS
2021 2020
E E
Other debtors
Prepayments and accrued income 297,422
203,633		 366,835
549,017
501,055 915,852
CREDITORS: Amounts falling due within one year 2021 2020
Clear yearly income not
Other creditors		 yet distributed F
2,407,956		 E
2,295,478
Deferred income- rents
Accruals		 received in advance 238,196
292,741		 170,439
295,492
7,022 7,020
2,945,915 2,768,429
DEFERRED INCONIE
Under
1 year		 Total
At 1 October 2020
Additions
during the year
Released		 295,492
292,741		 295,492
292,741
(295,492) (295,492)
At 30September 2021 292,741 292,741

OPERATING LEASES—LESSOR
Total future minimum
lease rentals receivable		 under non-cancellable operating
leases		 are as follows:
2021 2020
E
Not later than one year
Later than one and not later than five years
Later than five years		 1,154,639
2,493,685
1,711,845		 1,079,746
2,623,647
1,340,335
5,360,169 5,043,728

RESTRICTEDFUNDS
Balance at Balance at 30
1 October Incoming September
2020 resources ~Ex enditure Transfers 2021
F E E
Income account
Income Reserve Fund		 710,484 2,775,642 (2,692,842) (82,800)
82,800		 793,284
710,484 2,775,642 (2,692,842) 793,284

ANALYSIS OF NET ASSETS BETWEEN FUNDS Net
Fixed current
assets assets Total
F E
Restricted funds
Income Reserve Fund 793,284 793,284
Endowment fund 80,689,106 2,230,855 82,919,961
Total funds at 30September 2021 80,689,106 3,024,139 83,713,245

ECONCILIATION
OF NET INC
CTIVITIES		 OME
/ (EXPENDITURE)		 TO NET CASH FLOW FROM O PERATING
2021f 2020
Net income/(expenditure)
for year		 10,376,208 (1,727,643)
Dividends
received		 (1,059,845) (887,245)
Rents received from investment properties (1,684,555) (1,702,503)
Interest receivable (172) (7,829)
Losses/(gains)
on investments
(Increase)/decrease
in debtors
(Decrease)/increase
in creditors		 (10,418,702)
414,797
177,486
(12,570,991)		 1,678,846
(140,515)
(1,522,824)
(2,582,070)
Net cash flow from operating
activities		 (2,194,783) (4,309,713)