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|---|---|---|
|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|
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||||||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|
##
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|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|
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|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|
##
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|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||
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|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|
##
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|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|
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|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)|
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