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|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|
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## Date: 17th June 2022
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||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|
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|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|
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|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|
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|||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|
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|||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|
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