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2022-03-31-accounts
|
Page |
| TRUSTEES’ REPORT |
1 |
| STATEMENT OF TRUSTEES’ RESPONSIBILITIES |
4 |
| INDEPENDENT AUDITOR’S REPORT |
5 |
| STATEMENT OF FINANCIAL ACTIVITIES |
7 |
| BALANCE SHEET |
8 |
| NOTES TO THE ACCOUNTS |
9 |
Date: 17th June 2022
|
Unrestricted |
Endowment |
Total |
Unrestricted |
Endowment |
Total |
|
Fund |
Fund |
Fund |
Fund |
Fund |
Fund |
|
2022 |
2022 |
2022 |
2021 |
2021 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
|
| Investments |
98,907 |
- |
98,907 |
97,220 |
- |
97,220. |
| Expenditure on: |
|
|
|
|
|
|
| Charitable activities |
88,570 |
- |
88,570 |
110,256 |
- |
110,256 |
| (Note 3) |
|
|
|
|
|
|
| Realised loss on |
|
|
|
|
|
|
| Investment |
|
4,432 |
4,432 |
|
|
|
| Net gains on |
|
|
|
|
|
|
| investments (Note 4) |
- |
177,630 |
177,630 |
- |
229,109 |
229,109 |
| Net Income! |
|
|
|
|
|
|
| (Expenditure) |
10,337 |
173,198 |
183,535 |
-13,036 |
229,109 |
216,073 |
| Total Funds brought |
|
|
|
|
|
|
| forward at 1 April |
|
|
|
|
|
|
| 2021 |
124,406 |
2,492,846 |
2,617,252 |
137,442 |
2,263,737 |
2,401,179 |
| Total Funds carried |
|
|
|
|
|
|
| forward at 31 March |
|
|
|
|
|
|
| 2022 |
134,743 |
2,666,044 |
2,800,787 |
124,406 |
2,492,846 |
2,617,252 |
| 3. |
ANALYSIS OF EXPENDITURE |
|
|
|
|
|
|
Direct
costs |
Support
costs |
Total |
Total
zai. |
|
|
£ |
£ |
£ |
£ |
|
Grants to North London Collegiate School |
|
|
|
|
|
Music Scholarship awards |
41,000 |
- |
41,000 |
41,000 |
|
Advancement of Education in Science |
|
|
|
|
|
- Science Equipment |
- |
- |
- |
3,220 |
|
- Science Laboratories |
33,741 |
- |
33,741 |
55,000 |
|
- Refurbishment of Green House |
6,000 |
|
6,000 |
- |
|
Annual Science Prize |
150 |
- |
150 |
150 |
|
Other charitable and educational purposes |
|
|
|
|
|
- Supplementary grants to Bursary Holders |
3,000 |
- |
3,000 |
6,000 |
|
- Choral and instrumental master classes |
2,942 |
- |
2,942 |
4,040 |
|
- Organ repair |
9,000 |
- |
9,000 |
- |
|
- Replacement piano |
- |
- |
- |
3,000 |
|
Unused amounts returned to Trust |
(9,723) |
|
(9,723) |
(4,512) |
|
Governance |
|
|
|
|
|
Auditfee |
- |
2,460 |
2,460 |
2,340 |
|
Other |
|
|
|
|
|
Courierfee |
- |
|
|
18 |
|
Total |
86,110 |
2,460 |
88,570 |
110,256 |
| 4 |
INVESTMENTS |
|
|
|
|
|
Investments ofthe Trust comprise: |
|
|
Market value |
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
|
UK listed equities |
|
|
362,384 |
283,360 |
|
M&G Equities Fund for Charities |
|
|
884,638 |
824,550 |
|
BlackRock Charities Equities Fund |
|
|
99,424 |
92,326 |
|
COlE Charities Investment Fund |
|
|
630,111 |
579,845 |
|
BlackRock Charities Fixed Bond Fund |
|
|
- |
331,847 |
|
BlackRock Growth and Income Fund |
|
|
317,547 |
- |
|
COIF Charities Fixed Interest Fund |
|
|
258,272 |
277,852 |
|
Newton Growth and Income Fund |
|
|
113,668 |
103,066 |
|
|
|
|
2,666,044 |
2,492,846 |
|
Movements during the yearwere: |
|
|
|
|
|
|
|
|
Market |
Market |
|
|
|
|
Value 2022 |
Value 2021 |
|
|
|
|
£ |
£ |
|
Brought forward at 1 April 2021 |
|
|
2,492,846 |
2,263,737 |
|
Realised loss on investment |
|
|
(4,432) |
- |
|
Unrealised gains |
|
|
177,630 |
229,109 |
|
Carried forward at 31 March 2022 |
|
|
2,666,044 |
2,492,846 |
| 5. |
ACCRUED INCOME |
2022 |
2021 |
|
|
£ |
£ |
|
Glaxo SmithKline income |
5,060 |
5,060 |
|
Newton Growth and Income Fund |
360 |
400 |
|
BlackRock- Investment Funds |
2,875 |
3,326 |
|
|
8,295 |
8,786 |
| 6. |
CREDITORS |
2022 |
2021 |
|
|
£ |
£ |
|
North London Collegiate School |
80,241 |
112,410 |
|
Other creditors |
2,460 |
2,340 |
|
|
82,701 |
114,750 |
| 7 |
TRUSTEES |
|
|
|
None oftheTrustees received any remuneration. |
|
|
| 8 |
NET MOVEMENT IN FUNDS |
|
|
|
Net movement in funds forthe year is stated after charging the following: |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Amounts paid to auditors |
|
|
|
Audit services—Crowe U.K. LLP |
2,460 |
2,340 |
|
|
2,460 |
2,280 |
| 9 |
ANALYSIS OF NET ASSETS BETWEEN FUNDS |
|
Fund balances at 31 March 2022 are represented by: |
|
|
|
Total |
Total |
|
Unrestricted |
Endowment |
Funds |
Funds |
|
Funds |
Funds |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Fixed Assets and Investments |
- |
2,666,044 |
2,666,044 |
2,492,846 |
| Current Assets |
217,444 |
- |
217,444 |
239,156 |
| Creditors |
|
|
|
|
| Amounts falling due within one year |
(82,701) |
- |
(82,701) |
(114,750) |
| Carried forward at 31 March 2022 |
134,743 |
2,666,044 |
2,800,787 |
2,617,252 |
|
|
At 1 April |
|
|
Unrealised |
At 31 March |
|
|
2021 |
Income |
Expenditure |
Gani |
2022 |
|
|
£ |
£ |
£ |
£ |
£ |
| Endowment |
Funds |
2,492846 |
- |
|
(4,432) |
2,666,044 |
|
|
|
|
|
177,630 |
|
| Unrestricted |
Funds |
124,406 |
98,907 |
(88,570) |
- |
134,743 |
| Total |
|
2,617,252 |
98,907 |
(88,570) |
173,198 |
2,800,787 |
| Fund balances at 31 March 2021 are re |
presented by: |
|
|
|
|
|
|
Total |
Total |
|
Unrestricted |
Endowment |
Funds |
Funds |
|
Funds |
Funds |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Fixed Assets and Investments |
- |
2,492,846 |
2,492,846 |
2,263,737 |
| Current Assets |
239,156 |
- |
239,156 |
195,834 |
| Creditors |
|
|
|
|
| Amounts falling due within one year |
(114,750) |
- |
(114,750) |
(58,392) |
| Carried forward at 31 March 2021 |
124,406 |
2,492,846 |
2,617,252 |
2,401,179 |
|
|
At 1 April |
|
|
Unrealised |
At 31 March |
|
|
2020 |
Income |
Expenditure |
Loss |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
| Endowment |
Funds |
2,263,737 |
- |
- |
229,109 |
2,492,846 |
| Unrestricted |
Funds |
137,442 |
97,220 |
(110,256) |
|
124,406 |
| Total |
|
2,401,179 |
97,220 |
(110,256) |
229,109 |
2,617,252 |