|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|
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|||||||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|
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|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|
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||||||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|
##
##
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##
##
|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|
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