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|Administrative|Details|||
|Trustees' Annual
Report||||
|Independent|Auditors'|Report to the Trustees||
|ofSirThomas White's||Charity||
|Statement of|Financial|Activities 2022||
|Statement of|Financial|Activities 2021|10|
|Balance Sheet||||
|Statement
of|Cash Flows||12|
|Notes to the|Financial|Statements|13|
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||||||Restricted||||
|---|---|---|---|---|---|---|---|---|
||||||income|Endowment|Total|Total|
||||||funds|funds|2022|2021|
|||||||||10|
|||||Notes|||||
|Income and endowments||from:|||||||
|Investment
income|||||||||
|Rents receivable|||||1,864,091||1,864,091|1,684,555|
|Dividends
and interest on|||quoted||||||
|Securities|||||956,336||956,336|1,059,845|
|Interest on bank|deposits||||464||464|172|
|Sale of rights issue||||||||70|
|Other income||||||||31,000|
|Total income and|endowments||||2,820,891||2,820,891|2,775,642|
|Expenditure
on:|||||||||
|Raising funds|||||279,584|137,091|416,675|391,091|
|Charitable
activities|||||||||
|Clear yearly income available|||||||||
|for distribution|||||2,619,820||2,619,820|2,407,956|
|Distribution
related|support|costs|||21,035||21,035|19,089|
|Total expenditure|||||2,920,439|137,091|3,057,530|2,818,136|
|Net gains/(losses)|on investment|||assets||5,113,961|5,113,961|10,418,702|
|Net income
/ Net movement|||in funds||(99,548)|4,976,870|4,877,322|10,376,208|
|Reconciliation
of|funds||||||||
|Total funds brought|forward||||793,284|82,919,961|83,713,245|73,337,037|
|Total funds carried forward|||||693,736|87,896,831|88,590,567|83,713,245|
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||||||Restricted|||
|---|---|---|---|---|---|---|---|
||||||income|Endowment|Total|
||||||funds|funds|2021|
|||||Notes||||
|Income and endowments||from:||||||
|Investment
income||||||||
|Rents receivable|||||1,684,555||1,684,555|
|Interest on government
stocks||||||||
|Dividends
and interest on|||quoted|||||
|securities|||||1,059,845||1,059,845|
|Interest on bank|deposits||||172||172|
|Sale of rights issue|||||70||70|
|Other income|||||31,000||31,000|
|Total income and|endowments||||2,775,642||2,775,642|
|Expenditure
on:||||||||
|Raising funds|||||265,797|125,294|391,091|
|Charitable
activities||||||||
|Clear yearly income available||||||||
|for distribution|||||2,407,956||2,407,956|
|Distribution
related|support|costs|||19,089||19,089|
|Total expenditure|||||2,692,842|125,294|2,818,136|
|Net gains/(losses)|on investment|||assets||10,418,702|10,418,702|
|Net income
/ Net movement|||in funds||82,800|10,293,408|10,376,208|
|Reconciliation
of|funds|||||||
|Total funds
brought|forward||||710,484|72,626,553|73,337,037|
|Total funds carried forward|||||793,284|82,919,961|83,713,245|
##
||Notes||2022||2021||
|---|---|---|---|---|---|---|
|||E|E||||
|FIXEDASSETS|||||||
|Investments|||83,951,744||80,689,106||
|CURRENT ASSETS|||||||
|Debtors||6,013,212||501,055|||
|Cash at bank and
in hand||5,798,298||5,468,999|||
|||11,811,510||5,970,054|||
|CREDITORS: Amounts|falling||||||
|due within one year||7172687||2945 91|||
|NET CURRENT ASSETS/(LIABILITIES)|||4,638,823||3,024,139||
|NET ASSETS|||88,590,567||83,713,245||
|FUNDS OF THE CHARITY:|||||||
|Restricted
income funds|12||693,736|||793,284|
|Endowment
funds|||87,896,831||82,919,961||
|TOTAL CHARITY FUNDS:|||88,590,567||83|713245|
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||||
for the year ended 30Se|ptember 2022|||
|---|---|---|---|---|---|---|
|||||Notes|2022|2021|
||||||8||
|Net cash flow from operating
activities||||13|(4,342,915)|(2,194,783)|
|Cash flow from investing|activities||||||
|Payments
to acquire investment|||properties||(4,467,737)|(665,213)|
|Receipts from sales of investment|||properties||4,921,950|292,707|
|Payments
to acquire quoted|investments||||(4,138,479)|(5,221,186)|
|Receipts from sales of quoted||investments|||5,535,589|7,796,516|
|Interest received|||||464|172|
|Dividends
received|||||956,336|1,059,845|
|Rents received from investment|||properties||1,864,091|1,684,555|
|Net cash flow from investing||activities|||4,672,214|4,947,396|
|Net increase in cash and cash|||equivalents||329,299|2,752,613|
|Cash and cash equivalents||at|1 October 2021||5,468,999|2,716,386|
|Cash and cash equivalents||at|30September 2022||5,798,298|5,468,999|
|Cash and cash equivalents||consists of:|||||
|Cash at bank and
in hand|||||5,798,298|5,468,999|
|Short term deposits|||||||
|Cash and cash equivalents||at|30September 2022||~ 298 298|8.488,999|
|Analysis ofchanges
in net||debt|||||
|||||2021|Cashflow|2022|
|||||8|8|8|
|Cash and Cash Equivalents||||5,468,999|329,299|5,798,298|
|Total net debt||||5,468,999|329,299|5,798,298|
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|COSTS OF RAISING FUNDS|COSTS OF RAISING FUNDS||2022|2021|
|---|---|---|---|---|
||||8|5|
|Restricted income fund:|||||
|Investment
Properties:|||||
|Ground
rent, council|tax and|water rates|13,067|6,550|
|Repairs|||88,877|68,795|
|Insurances|||19,644|16,959|
|Legal and other professional||charges|45,810|28,457|
|Planning,
consultant|and architect's charges||(7,287)|27,377|
|Agents fees|||116,160|114,518|
|Other|||3,313|3,141|
|Endowment
fund:|||||
|Investment
Portfolio:|||||
|Portfolio management|charge||116,177|122,163|
|Foreign exchange losses|||20,914|3,131|
||||416,675|391,091|
##
|CLEAR YEARLY INCOME AVA|ILA|BLE FOR DI|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||2022|2021||
||||of70ths|||8||
|The Trustees of:||||||||
|General
Charity (Coventry)||||||||
|Comprising:
Coventry Trustees||||8|299,408|275,196||
|Coventry
General Charities
Clerk to Coventry
General
Charities|||24
1||898,224
37,426|825,585
34,399||
|Coventry Stock Charity||||4|149,704|137,597||
|SirThomas White's
Northampton|Charity|||8|299,408|275,195||
|Leicester, Sir Thomas White's Loan||Charity||8|299,408|275,195||
|Nottingham,
Sir Thomas White's Loan Money Charity
Warwick, The Charity of Sir Thomas White||||8
8|299,408
299,408|275,195
275,195||
|The Master and Wardens,
Merchant||Taylors' Company||1|37,426|34,399||
||||70||2,619,820|2,407,956||
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|SUPPORT COSTS -|GOVERNANCE COSTS|GOVERNANCE COSTS|2022|2021|
|---|---|---|---|---|
||||E||
|Trustees'
professional|indemnity|insurance|1,939|1,890|
|Clerks' fees|||11,452|10,274|
|Auditors'
remuneration|||4,400|4,350|
|Accountancy|||3,244|2,575|
||||21,035|19,089|
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|||Freehold||||
|---|---|---|---|---|---|
|||Investment
~Prti|Quoted
I
t|t|7t
I|
||||||5|
|Fair value at 1 October 2021||50,479,699|30,209,407||80,689,106|
|Additions||4,467,737|4,138,479||8,606,216|
|Disposals||(4,921,950)|(5,535,589)||(10,457,539)|
|Net realised and unrealised|profits|8,075,461|(2,961,500)||5,113,961|
|Fair value at 30September|2022|58,100,947|25,850,797||83,951,744|
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|DEBTORS|||2022|2021|
|---|---|---|---|---|
|||||E|
|Other debtors|||344,231|297,422|
|Prepayments
and accrued income|||5,668,981|203,633|
||||6,013,212|501,055|
|CREDITORS: Amounts|falling|due within one year|2022|2021|
||||5||
|Clear yearly income not yet distributed|||2,619,820|2,407,956|
|Other creditors|||4,217,362|238,196|
|Deferred
income- rents received||in advance|328,485|292,741|
|Accruals|||7,020|7,022|
||||7,172,687|2,945,915|
|DEFERRED INCOME|||||
||||Under
1 year|Total|
|||||F|
|At 1 October 2021|||292,741|292,741|
|Additions
during the year|||324,735|324,735|
|Released|||(288,991)|(288,991)|
|At 30September 2022|||328,485|328,485|
|Total future|minimum|lease rentals receivable|under non-cancellable|operating
leases|are as follows:|
|---|---|---|---|---|---|
|||||2022|2021f|
|Not later than one year||||893,087|1,066,800|
|Later than|one and not later than five years|||1,879,706|2,360,483|
|Later than|five years|||1,493,588|1,711,845|
|||||4.266,381|5,139,128|
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|RESTRICTED FUNDS||||||
|---|---|---|---|---|---|
||Balance at||||Balance at 30|
||1 October||||September|
||2021|Income||Transfers|2022|
|||E|F|F||
|Income account||2,820,891|(2,920,439)|99,548||
|Income Reserve Fund|793,284|||(99,548)|693,736|
||793,284|2,820,891|(2,920,439)||693,736|
##
|ANALYSIS|OF NET ASSETS BETWEEN FUNDS||Net||
|---|---|---|---|---|
|||Fixed|current||
|||assets|assets|Total|
|Restricted|funds||||
|Income Reserve Fund|||693,736|693,736|
|Endowment|funds|83,951,744|3,945,087|87,896,831|
|Total funds|at 30September 2022|83,951,744|4,638,823|88,590,567|
##
|ECONCILIATION
OF NET INCO
CTIVITIES|ME/(EXPENDITURE)
T|O NET CASH FLOW FROM|OPERATING|
|---|---|---|---|
|||2022
8|2021f|
|Net income/(expenditure)
for year||4,877,322|10,376,208|
|Dividends
and interest on quoted|securities|(956,336)|(1,059,845)|
|Rents receivable
from investment|properties|(1,864,091)|(1,684,555)|
|Interest on bank deposits||(464)|(172)|
|Losses/(gains)
on investments||(5,113,961)|(10,418,702)|
|(Increase)/decrease
in debtors||(5,512,157)|414,797|
|(Decrease)/increase
in creditors||4,226,772|177,486|
|||(9,220,237)|(12,570,991)|
|Net cash flow from operating
activities||(4,342,915)|(2,194,783)|
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