2021-03-31-accounts - Clsg Bursary And Awards Fund

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City ofLondon School for Girls Bursary Fund incorporating	City ofLondon School for Girls Bursary Fund incorporating	City ofLondon School for Girls Scholarships	City ofLondon School for Girls Scholarships	and
Prizes Fund	I Annual Report and Financial Statements		2020/21
CONTENTS
ORIGINS OF THE CHARITY
TRUSTEE'S ANNUAL REPORT
ACHIEVEMENTS AND PERFORMANCE
FINANCIAL REVIEW
TRUSTEE'S RESPONSIBILITIES..
INDEPENDENT AUDITOR'S	REPORT .
STATEMENT OF FINANCIAL	ACTIVITIES.			.15
BALANCE SHEET.				.16
CASH FLOW STATEMENT				.17
NOTES TO THE FINANCIAL	STATEMENTS .			.18
REFERENCE AND ADMINISTRATION DETAILS		.		33

						2020/21	2019/20
			Unmstricted	Restricted	Endowment	Total	Total
		Notes	Funds	Funds	Funds	Funds	Funds
				g	5	8	c
Income and endowments
from:
Voluntary Income		2	647,940	112,039		759,979	902,211
Investments		3	175,599			175,599	158,246
Other		4					500
Total income			823,539	112,039		935,578	1,060,957
Expenditure on:
Charitable activities		5	738,179	107,493		845,572	828,983
Raisi funds		6					66,236
Total ex enditure			738,179	107,493		845,672	895,219
Nst gains / (losses) on
invsstmsnls					812,493	812,493	(755,689)
Fair Value Movements					818	818
Net Income/(expenditure)	and
net movement in funds		12,13	85,360	4,546	813,311	903,217	589,951
Reconciliation oftotal funds:
Brought forward			1,785	150,000	3,732,961	3+84,748	4,474,697
Carried forward		12,13	87,145	154,546	4,546,272	4,787,963	3,884,746

AS AT 3	1 MARCH 2021
						2020/21	2019/20
					Notes	Total	Total
						R	F
Cash flows from operating		activities:
Net cash	used in provided	by operating	activities		14	46,605	22,916
Cash flows from Investing		activities:
Dividends,	interest and irxmme from investments					175,599	158,246
Increase	in cash In the ear					126,794	181,162
Change in cash and cash		equivalents	In the
reporting	period					126,794	181,162
Cash and	cash equivalents	atthe beginning		of
the re ortln erlod						604,276	623,114
Cash and	cash equivalents	atthe end	ofthe
re ortln	eriod					931,070	804,276

					Unrestricted	Unrestricted
					funds	funds
					2020/21	2019/20
					E	F.
Charity	1	- CLSGBursary Fund
Inyestment		income			166,219	152,547
hierest					5,339	2,174
Total					171,558	154,721
Charity	2- CLSGScholarships			and Prizes
Fund
Inyestment		income			3,568	3,273
Inlerest					475	252
Total					4,041	3,525
Charities		1&2	total
InNestment		income			189,785	155,820
Interest					5,814	2,426
Total -	charities		1 and 2		175,599	158,246

OTHER INCOME
	Endowment	Endowment
	funds	funds
	2020/21	2019/20
	8
Charity 1 - CLSGBursary Fund
Sponsorship		500
Total		500

				Unrestricted	Unrestricted	Restricted	Erdowment
				Direct	Support	Direct	Direct	Total
				costs	costs	costs	costs	2020/21
				F.	P	F	8	R
Charity	1 - CLSG
Bursary		Fund
Bursaries		awarded		721,624	5,508	107,493		834,625
Ancillary costs education			of	8,798				8,798
Total				730,422	5,508	107,493		843g23
Charity 2- CLSG
Scholarships			and
Prizes Fund
Prizes				2,249				2,249
Total				2,249				2,249
Charities		1 &	2
total
Bursaries		awarded		721,624	5,506	107,493		834,625
Ancillary costs education			of	8,798				8,798
Pnzes				2,249				2,249
Total				732,671	5,508	107,493		845,672

		Unrestricted	Restricted	Endowment	funds
		Direct	Direct	Direct	Support	Total
		costs	costs	costs	costs	2019/20
			f	F
Charity 1 - CLSG
Bursary Fund
Bursaries awarded		154,721	97,994	565,283	2,754	820,752
Ancillary costs education	of			6,491		6,491
Total		154,721	97,994	571,774	2,754	827,243
Charity 2 - CLSG
Scholarships	and
Prizes Fund
Prizes		1,740				1,740
Total		1,740				1,740
Charities 1&	2
total
Bursaries awarded		154,721	97,994	565,283	2,754	820,752
Ancillary costs education	of			6,491		6,491
Prizes		1,740				1,740
Total		156,461	97,994	571,774	2,754	828,983

	Endowment	Endowment
	Funds	Funds
	2020/21	2019/20
		F
Charity 1 - CLSGBursary Fund
125th year celebration concert		66,236
Total		66,236

charity registered in the UK with 1021138).The Charities Pool isa The value ofinvestments held by	the Charities UK registered the charity are	Commission (cha unit trust. as follows:	rity number:
		Total 31	Total 31
		March 2021	March 2020
		f	f
Charity 1 - CLSGBursary Fund
Market value 1 April		3,235,046	3,974,864
Gain/ loss for the ar		795 29	(739,817)
Market value 31 March		4,030875	3,235,047
Units held in Charities Pool		455,833	455,833
Charity 2 - CLSGScholarships	and Prizes
Fund
Market value 1 April		89,402	85,273
Gain/(loss) for the year		17,064	(15,872)
Market value 31 March		86,466	69,401
Units held in Charities Pool		9,779	9,779
Total charities 1and 2:
Total market value 31 March		4,116,941	3,304,448
Total cost 31 March		1,765,156	1,765,156
Total units held in Charities Pool		465,612	465,612

The type of listed investments	The type of listed investments	The type of listed investments	held as at 31 March	was as follows:	was as follows:
					Total 31	Total 31
					INarch 2021	March 2020
					6	f
Equities					3,841,106	2,934,350
Pooled Units					218,198	237,920
CashheldbyFund	Mana	er			57,637	132,178
Total					4116941	3,304,448
DEBTORS -AMOUNTS			FALLING DUE WITHIN ONE YEAR
					Total $1	Total 31
					March 2021	March 2020
					6	F
Charity 1 - CLSG	Bursary Fund
Sundry debtors					1,902	20,036
Amounts due from	HMRC	for	GIRAid		56,005	19,345
Total					57907	39,381
Note: for charity 2,	debtors	at 31 March 2021 were		nil (31 March 2020: nil).
CREDITORS —AMOUNTS DUE WITHIN ONE YEAR
					2021	2020
					8	F
Charity 1-CLSG	Bursary Fund
Bursaries awarded					296,820	250,428
Recel ts in advance					21,135	12,931
Total					3171955	263,359
					2021	2020
Charity 1 - bursaries awarded analysis within
creditors:
Commitments at 1	April				250,428	262,417
Commitments made in the		year			829,116	817,996
Amounts aid in the ar					782,724	(829,987)
Commitments at31 March					296,820	250,428
Note: for charity 2,	creditors		at 31 March 2021 were		nil (31 March	2020: nil).

At31 March 2021	At31 March 2021						Restated
						Total at31	Total at31
			Endowment		Funds	Ilarch	March
	Unrestricted	Restricted	Permanent	Expendable		2021	2020
Charity 1 - CLBG
Bursary Fund
Fixed assets-
investmenh			53,061		3,977,414	4,030,475	3,235,047
Current asseh	83,568	154,546			709,376	947,490	803,992
Current liabiliTies					317,955)	317,955	(263,359)
Total	83,568	154,546	53,061		4,368,835	4,860,010	3,775,880
Charity 2 -CLSG
Scholarshipsand
Prizes Fund
Fixed assets-
irwestmenh					86,466	88,468	69.401
Currant assets	3,577				37,910	41,487	39,665
Total	3,577				124,376	127,953	109,066
and 2	87.145	154,546	53,061		4/93,211	4,787,963	3,884,746
At 31 March 2020 - restated						Restated
						Total at 31	Toial at31
			Endowment		Funds	March	March
	Unrestrlchd	Restricted	Permanent	Expendable		2020	2019
Charity 1 - CLSG Bursary Fund f
Fixed assets-
iiwestmenh			42,589		3,192,458	3,235,047	3,974,864
Current asseh		150,000	-		653,992	803,992	639,097
Cunent liabilities					(263,359	(263,359)	(262,417)
Total		150,000	42,589		3,583,091	3,775,680	4,351,544
Charity 2 - CLSG
Scholarships	and
Prizes Fund
Fixed assets-
irwestmenh					69,401	69,401	85g73
Current ssseh	1,785				37,880	39,665	37,880
Total	1,785				107,281	109,066	123,153
and 2	1,785	150,000	42,589		3,690,372	3,884,746	4,474,697

13. MOVEMEN	13. MOVEMEN	13. MOVEMEN	T IN FUN	DS
TOTAL MOVEMENT			IN FUNDS
At 31March	2021			Restated
				Total 1				Total 31
				April		Expend-	Gains &	March
				2020	Income	iture	(losses)	2021
				8		8	8	8
Endowment	funds:
Expendable				3,690,372			802,839	4,493,211
Permanent				42,589			10,472	53,061
Restricted funds:
11+Tower Hamlets Bursarles (7
years)					29,010	(29,010)
11+Bursarles (5years)					22,528	(22,528)
Lower Sixth	Bursaries		(2years)		30,849	(30,849)
Sixth Form Bursaries			(up to2
years)				150,000				150,000
Sixth Form STEMBursaries (1or
2years)					14,606	(14,606)
11+Bursaries (7years)					6,500	(5,500)
Pupils from	single parent families				5,000	(5,000)
Existing pupils facing			financial
hardship					4,546			4,546
Unrestricted	fund			1,785	823,639	738,179)		87,145
Total funds				3,884,746	935,578	(845,672	813,311	4,787,963
At 31 March	2020- restated							Restated
				Total				Total
				1 April		Expend-	Gains &	31 March
				2019	Income	itura	(losses)	2020
				8	f.'	8	8	L
Endowment	funds:
Expendable				4,422,368	654,717	(640,764)	(745,949)	3,690,372
Permanent				52,329			(9,740)	42,589
Restricted funds:
11+Tower Hamlets		Bursaries (7
years)					28,818	(28,818)
11+Bursaries (5years)					26,712	(26,712)
Lower Sixth	Bursarles		(2years)		23,058	(23,058)
Sixth Form	Bursarles		(up to2
years)					150,000			150,000
Sixth Form	STEMBursarles (1or
2years)					14,000	(14,000)
11+Bursaries (7years)					5,406	(5,406)
Unrestricted	fund				158,246	(156,461)		1,785
Total funds				4,474,697	1,060,957	(895,219)	(755,689	3,884,746
								28

At 31March 2021	At 31March 2021		Restated
			Total 1				Total 31
			April		Expend-	Gains &	March
			2020	Income	iture	(losses)	2021
			E	8	E	8
Endowment	funds:
Expendable			3,583,091			785,745	4,368,836
Permanent			42,589			10472	53061
Restricted funds:
11+Tower	Hamlets Bursarles (7
years)				29,010	(29,010)
11+Bursaries (5years)				22,528	(22,528)
Lower Sixth	Bursaries (2years)			30,849	(30,849)
Sixth Form	Bursaries	(up to2
years)			150,000				160,000
Sixth Form	STEM Bursaries (1or
2years)				14,606	(14,606)
11+Bursaries (7years)				5,500	(5,500)
Pupils from	single parent families			5,000	(5,000)
Existing pupils facing		financial
hardship				4,546			4,546
Unrestricted	fund			819,498	(735,930)		83,568
Total funds - charl		1	3,775,680	931,537	843,423	796,217	4,660,010
At 31 March	2020 - restated		Total 1				Restated Total31
			April 2019	Income	Expend- iturs	Gains & (losses)	March 2020
				F.	E	8	F
Endowment	funds:
Expendable			4,299,215	654,717	(640,764)	(730,077)	3,583,091
Permanent			52,329			(9,740)	42,589
Restricted funds:
11+Tower Hamlets Bursaries (7
years)				28,818	(28,818)
11+Bursaries (5years)				26,712	(26,712)
Lower Sixth	Bursaries (2years)			23,058	(23,058)
Sixth Form	Bursaries	(up to 2
years)				150,000			150,000
Sixth Form	STEM Bursaries (1or
2years)				14,000	(14,000)
11+Bursaries (7years)				5,406	(5,406)
Unrestricted	fund			154,721	(154,721)
Total funds	- chari	1	4,351,544	1,057,432	893,479)	(739,817)	3,775,680

At 31March	2021		Total 1				Total 31
			April		Expend-	Gains &	INarch
			2020	Income	Iture	(losses)	2021
			g	E	E	E	8
Endowment	funds:
Expendable	endowment		107,281			17,095	124,378
Unrestricted	fund		1,785	4,041	(2,249		3,577
Total funds	- charlt	2	109,066	4,041	2,249	17,095	127953

At 31 March	2020		Total 1				Total 31
			April		Expend-	Gains &	March
			2019	Income	iture	(losses)	2020
			E	E	E	E	E
Endowment	funds:
Expendable	endowment		123,153			(15,872)	107,281
Unrestricted	fund			3,525	1,740		1,785
Total funds	- charit	2	123,153	3,525	(1,740	(15,872	109,066

Reconciliation ofnet income to net ca	sh	inflow from	operating activ	ities:
			2020/21	2019/20
			8	8
Nst incoms/(sxpsnditls) for the reporbng ths Statement ofFinancial Activities	period as psr		903,217	(589,951)
Adjustmsnts for:
Dividends, interest and income from investments			(175,599)	(158,246)
(Gains)llossss on investments			(812,493)	755,689
(increase)/dscrsase in debtors			(18,526)	14,482
hcrsase in creditors			54,596	942
Nst cash used ln rovlded b o sratln		aottvtttss	48,805	22,916
Analysis ofcash and cash equivalents
			2020/21	2019/20
			8	2
Cash in hand			931,070	804,276
Total cash and cash s ulvalents			931,070	804,276

ransactions.
	Connected
Related party	party	2020/21	2019/20	Detail oftransaction
		R
City ofLondon	The Trustee of	355d471	354,488	Match-funding up to a
Corporation	the charity			maximum of2.5%of
				tuition fee income
Charities Pool	The Trustee of	189,785	155,820	Distribution from the
	the charity			Chari5es Pool
City ofLondon	The Trustee of	(5,508)	(2,754)	Bursary administration
Corporafion	the charity			costs