Charity number: 296368
Sir Joseph Williamson's Charitable Trust
Unaudited
Trustees' report and financial statements
for the year ended 31 August 2021
Sir Joseph Williamson's Charitable Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and Advisers | 1 - 2 |
| Trustees' report | 3 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 20 |
Sir Joseph Williamson's Charitable Trust
Reference and administrative details of the Charity, its Trustees and Advisers for the year ended 31 August 2021
| Trustees | R J Race, JP, DL, Chairman3 |
|---|---|
| M Dodd6 | |
| A Goulden, Vice Chairman6 | |
| I McLeod5 | |
| E Baker (Retired 4 March 2021)4 | |
| The Very Reverend Dr Philip Hesketh Dean of Rochester1 | |
| Mrs H Harwood2 | |
| R Turpin (appointed 5 July 2021)4 | |
| 1 Dean and Chapter of Rochester Cathedral 2 Richard Watts Charities 3 Rochester Bridge Trust 4 Medway Council 5 Old Williamsonian Club 6 Co-opted Charity registered number 296368 Principal office The Clerk to the Trustees 1 Maynard Place Chatham Kent ME5 7HD Accountants Kreston Reeves LLP Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU Bankers National Westminster Bank Plc 148 High Street Chatham Kent ME4 4DB Solicitors DGB Solicitors LLP The Captain's House Central Avenue Pembroke Chatham Maritime Kent ME4 4UF |
Page 1
Sir Joseph Williamson's Charitable Trust
Reference and administrative details of the Charity, its Trustees and Advisers (continued) for the year ended 31 August 2021
Investment advisors Ravenscroft The Singing Men's Chambers 19 Minster Precincts Peterborough PE1 1XX Estate advisors Bax Thomas French Ltd. Clockhouse Barn Canterbury Road Challock Kent TN25 4BJ
Page 2
Sir Joseph Williamson's Charitable Trust
Trustees' report for the year ended 31 August 2021
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 August 2021.
Objectives and activities
a. Policies and objectives
The objects of the Charity are, for the benefit of the public:
-
to advance education through the provision of a site in Rochester for the school; and
-
to advance education through furthering the education of beneficiaries attending the School conducted on the Charity's property by the award of prizes (or other suitable reward); and
-
to advance education through giving grants, bursaries or other payments to beneficiaries who are in need of financial assistance (or to educational institutions attended by such beneficiaries); and in providing financial or other assistance to such beneficiaries to assist their entry into a profession, trade or calling or to enable them to travel abroad to pursue their education; and
-
to provide and support educational, recreational or ancillary facilities and services for the benefit of the beneficiaries and the inhabitants of the area of benefit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The Trustees have continued to support the activities of the Sir Joseph Williamson's Charitable Trust during the year. This support included contributions of £61,300 (2020 - £107,400) during the year.
c. Main activities undertaken to further the charity's purposes for the public benefit
The main purpose of the Charity is the advancement of education. In particular the Charity provides special benefits for Sir Joseph Williamson's Mathematical School, Rochester ("the School"), which are in addition to and beyond the financial support received by the School from central government.
The School is a boys grammar school based in Rochester, Kent. In 2019 the School joined The Leigh Academies Trust (a Multi Academy Trust).
The School is accessible (without payment of fees) to any boy within the Medway Towns who passes the 11 plus examination and for sixth form studies to any boy or girl within the Medway Towns who achieves a suitable level of achievement at GCSE.
The facilities of the School (many of which have been funded or partly funded by the Charity), such as its hall, sports hall, swimming pool, pavilion and synthetic hockey pitch are made available by the School for hire by the wider local community.
The School has community links with other Schools in the area.
The Charity also makes an annual donation to Rochester Grammar School.
Page 3
Sir Joseph Williamson's Charitable Trust
Trustees' report (continued) for the year ended 31 August 2021
Achievements and performance
a. Review of activities
The results for the year are set out on page 8.
The Charity's unrestricted funds have a balance of £495,186 (2020 - £353,361) and the restricted funds have a balance of £8,170,296 (2020 - £6,266,953).
Total grants payable in the year amounted to £61,500, compared to £107,600 in 2020.
b. Investment policy and performance
The Scheme provides that all sums of cash, other than cash needed for immediate working purposes shall be invested in trust for the Charity. Such cash may be invested in any investments, which are narrower-range or wider-range investments.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Restricted fund
The restricted fund consists of the Capital Account and represents the permanent endowment of the foundation.
Unrestricted funds
The unrestricted fund consists of the Income and Expenditure Account, which represents the amounts available for general purposes at the discretion of the Trustees.
Reserve fund policy
The reserves of the Charity are the resources that are available to spend on the Charity's purposes once all commitments have been met and planned expenditure covered. They do not include the restricted funds as these have to be retained in their entirety to generate future income flows.
The Charity's primary objective is to provide special benefits for the School that are not normally provided by central government. As a result, there is not normally any requirement for the Trustees to accumulate reserves and the Trustees' policy is that they should not fall below £20,000. This will allow the Charity to provide consistent funding for the School while allowing for variation in the Charity's other income and expenditure.
However, it is the Trustees' intention to support capital projects in the future where appropriate, if sufficient funds are available. In this event, a minimum reserve of £20,000 would be insufficient and would be increased to the level required to fund the capital project(s).
Page 4
Sir Joseph Williamson's Charitable Trust
Trustees' report (continued) for the year ended 31 August 2021
Structure, governance and management
a. Constitution
Sir Joseph Williamson's Charitable Trust is governed by a Scheme of the Board of Education dated 3 February 1910 as amended by Schemes of 26 June 1912, 8 May 1915, 25 January 1921, 5 November 1921, 10 February 1932 and 19 February 1998 as amended by Special Resolutions dated 14 November 2005, 30 March 2011 and 5 November 2012.
The Special Resolution dated 5 November 2012 changed the Charity's name to Sir Joseph Williamson's Charitable Trust. In addition, amendments were made to the objects of the Charity and the composition of the body of Trustees.
b. Methods of appointment or election of Trustees
Upon the occurrence of a vacancy the Trustees shall cause a note thereof to be entered in their minute book at their next meeting and in the case of a vacancy in the office of Nominated Trustee shall cause notice thereof to be given as soon as possible to the proper appointing body. Any competent Trustee may be re-appointed.
c. Organisational structure and decision-making policies
The body of Trustees shall consist of seven competent persons. The Trustees shall ask each of the following bodies to nominate one person (who may be but does not have to be a member of the appointing body), to be a Trustee of the Charity:
The Dean and Chapter of Rochester Cathedral, in the County of Kent; The Trustees for the time being of the Richard Watts Charity; The Wardens and Assistants of the Rochester Bridge, in the County of Kent; Medway Council; and The Old Williamsonian Club.
Co-opted Trustees:
Not more than three at the discretion of the Trustees.
The names of the Trustee, who served during the financial year, are shown on page 1.
A Trustees' Committee has been formed which makes recommendations to the main body of Trustees and all decisions are ratified at full meetings of the Trustees.
d. Policies adopted for the induction and training of Trustees
All Trustees are encouraged to attend training courses and seminars on a regular basis. New Trustees are given full details of the Charity and are encouraged to attend Board meetings regularly to widen their understanding of the work of the Charity.
e. Risk management
The Trustees have assessed the major strategic, business and operational risks which the charity may face and review risks on a regular basis. The Trustees confirm the systems have been established to enable regular reports to be produced so that necessary steps can be taken to mitigate these risks.
Plans for future periods
The Charity will continue to pursue its main activities as outlined on page 3.
Page 5
Sir Joseph Williamson's Charitable Trust
Trustees' report (continued) for the year ended 31 August 2021
COVID-19
At the time of signing the accounts the Trustees are aware of the potential economic and social effects of the COVID-19 virus outbreak. The full impact of the pandemic on the UK economy is yet to be seen, but the Charity will continue to seek to mitigate this risk by following the UK Government’s guidelines and adapting/developing its own internal strategy.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
R J Race
Date: 14 March 2022
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Sir Joseph Williamson's Charitable Trust
Independent examiner's report
for the year ended 31 August 2021
Independent examiner's report to the Trustees of Sir Joseph Williamson's Charitable Trust ('the charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 14 March 2022
S Robinson BA FCA FCIE DChA MCMI
Kreston Reeves LLP Chartered Accountants Chatham Maritime
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Sir Joseph Williamson's Charitable Trust
Statement of financial activities for the year ended 31 August 2021
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Charitable activities Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ - - - 28,163 - 28,163 (28,163) 1,931,506 1,903,343 6,266,953 1,903,343 8,170,296 |
Unrestricted funds 2021 £ - 182,471 182,471 2,247 83,486 85,733 96,738 45,087 141,825 353,361 141,825 495,186 |
Total funds 2021 £ - 182,471 182,471 30,410 83,486 113,896 68,575 1,976,593 2,045,168 6,620,314 2,045,168 8,665,482 |
Total funds 2020 £ 100 188,919 189,019 26,902 129,902 156,804 32,215 (89,206) (56,991) 6,677,305 (56,991) 6,620,314 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 20 form part of these financial statements.
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Sir Joseph Williamson's Charitable Trust
Balance sheet as at 31 August 2021
| Note Fixed assets Tangible assets 9 Investments 11 Investment property 10 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
2,707 23,759 26,466 (4,841) |
2021 £ 6,293 5,425,564 3,212,000 8,643,857 21,625 8,665,482 8,170,296 495,186 8,665,482 |
3,957 27,643 31,600 (4,721) |
2020 £ 6,293 4,370,245 2,216,897 |
|---|---|---|---|---|
| 6,593,435 26,879 |
||||
| 6,620,314 | ||||
| 6,266,953 353,361 |
||||
| 6,620,314 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
R J Race
Date: 14 March 2022
The notes on pages 10 to 20 form part of these financial statements.
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
1. General information
Sir Joseph Williamson's Charitable Trust ("the Charity") is a charity and is incorporated in England with the registration number 296368. The address of the registered office is Sir Joseph Williamson's Mathematical School, Maidstone Road, Rochester, Kent, ME1 3EL.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Sir Joseph Williamson's Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Whilst the impact of the COVID-19 pandemic has been assessed by the Trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the Charity's future activities. However, taking into consideration the Charity's level of reserves, the Trustees believe that the Charity will be able to continue in operational existence for the foreseeable future.
Page 10
Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Rents receivable are included in the financial statements on an accruals basis. Wayleaves and easements are included in the financial statements when received.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
2. Accounting policies (continued)
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.12 Tangible fixed assets and depreciation
The original freehold properties have been included at a nominal value of £1. Subsequent additions are included at cost.
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
3. Income from donations and legacies
| Watts Charity grant Total 2020 Investment income Rent Income from listed investments Bank interest receivable Total 2020 |
Unrestricted funds 2021 £ - 100 Unrestricted funds 2021 £ 48,229 134,239 3 182,471 188,919 |
Total funds 2021 £ - 100 Total funds 2021 £ 48,229 134,239 3 182,471 188,919 |
Total funds 2020 £ 100 |
|---|---|---|---|
| Total funds 2020 £ 48,079 140,733 107 |
|||
| 188,919 | |||
4. Investment income
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
5. Investment management costs
| Investment management fees Total 2020 |
Restricted funds 2021 £ 28,163 25,238 |
Unrestricted funds 2021 £ 2,247 1,664 |
Total funds 2021 £ 30,410 26,902 |
Total funds 2020 £ 26,902 |
|---|---|---|---|---|
6. Analysis of grants
| Grants to Institutions 2021 Total funds 2021 £ £ Grants payable to educational institutions 61,500 61,500 Total 2020 107,600 107,600 The charity has made the following material grants to institutions during the year: |
Total funds 2020 £ 107,600 |
|---|---|
| Name of institution Grants paid to Sir Joseph Williamson's Mathematical School Grants paid to Rochester Grammar School |
2021 £ 61,300 200 61,500 |
2020 £ 107,400 200 |
|---|---|---|
| 107,600 |
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
7. Analysis of expenditure by activities
| Charitable activities Total 2020 |
Direct costs 2021 £ 11,900 13,542 |
Grant funding of activities 2021 £ 61,500 107,600 |
Support costs 2021 £ 10,086 8,760 |
Total funds 2021 £ 83,486 129,902 |
Total funds 2020 £ 129,902 |
|---|---|---|---|---|---|
All of the expenditure incurred by the Charity during the financial year was from unrestricted funds.
Analysis of direct costs
| Insurance Property repairs Professional fees Commissions payable |
Total funds 2021 £ 2,529 1,550 3,372 4,449 11,900 |
Total funds 2020 £ 2,827 3,306 3,264 4,145 |
|---|---|---|
| 13,542 |
Analysis of support costs
| Sundry and Clerk's expenses Clerk's fee Independent examiner's fee |
Total funds 2021 £ 1,232 4,750 4,104 10,086 |
Total funds 2020 £ 276 4,500 3,984 |
|---|---|---|
| 8,760 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 August 2021, no Trustee expenses have been incurred (2020 - £NIL).
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
9. Tangible fixed assets
| Cost or valuation At 1 September 2020 At 31 August 2021 Net book value At 31 August 2021 At 31 August 2020 |
Freehold property £ 6,293 |
|---|---|
| 6,293 | |
| 6,293 6,293 |
The original freehold properties are included at £1 and comprise the school land and buildings, which are held in furtherance of the Charity's objectives. Subsequent additions are included at cost.
10. Investment property
| Valuation At 1 September 2020 Surplus on revaluation At 31 August 2021 |
Freehold investment property £ 2,216,897 995,103 |
|---|---|
| 3,212,000 |
The charity's investment property portfolio was revalued as at 30 June 2021 by Bax Thomas French Ltd. The Trustees have incorporated this valuation into the financial statements and believe that the values included continue to be reasonable.
The original cost of the freehold investment properties was £29,104, with an accumulated revaluation surplus to 31 August 2021 of £3,182,896.
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
11. Fixed asset investments
| At 31 August 2021 Net book value At 31 August 2021 At 31 August 2020 12. Debtors Trade debtors Cost or valuation At 1 September 2020 Additions Disposals Revaluations Net cash invested |
Listed investments £ 5,386,449 5,386,449 4,353,230 4,353,230 1,160,636 (1,023,364) 895,947 - |
Cash awaiting investment £ 39,115 39,115 17,015 2021 £ 2,707 17,015 (1,160,636) 1,108,907 - 73,829 |
Total £ 4,370,245 - 85,543 895,947 73,829 |
|---|---|---|---|
| 5,425,564 | |||
| 5,425,564 | |||
| 4,370,245 | |||
| 2020 £ 3,957 |
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
13. Creditors: Amounts falling due within one year
| Accruals and deferred income 14. Financial instruments Financial Assets Financial assets measured at fair value through income and expenditure Financial assets that are debt instruments measured at amortised cost Financial liabilities Financial liabilities measured at amortised cost |
2021 £ 4,841 2021 £ 5,425,564 26,466 5,452,030 (4,841) |
2020 £ 4,721 2020 £ 4,370,245 31,600 |
|---|---|---|
| 4,401,845 | ||
| (4,721) |
Financial assets measured at fair value through income and expenditure comprise fixed asset investments.
Financial assets that are debt instruments measured at amortised cost comprise trade debtors and cash at bank and in hand.
Financial liabilities measured at amortised cost comprise accruals.
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
15. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| September | Gains/ | 31 August | |||
| 2020 | Income | Expenditure | (Losses) | 2021 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 353,361 | 182,471 | (85,733) | 45,087 | 495,186 |
| Restricted funds | |||||
| Restricted funds | 6,266,953 | - | (28,163) | 1,931,506 | 8,170,296 |
| Total of funds | 6,620,314 | 182,471 | (113,896) | 1,976,593 | 8,665,482 |
| Statement of funds - prior year | |||||
| Balance at | Balance at | ||||
| 1 September | Gains/ | 31 August | |||
| 2019 | Income | Expenditure | (Losses) | 2020 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 351,050 | 189,019 | (131,566) | (55,142) | 353,361 |
| Restricted funds | |||||
| Restricted funds | 6,326,255 | - | (25,238) | (34,064) | 6,266,953 |
| Total of funds | 6,677,305 | 189,019 | (156,804) | (89,206) | 6,620,314 |
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Sir Joseph Williamson's Charitable Trust
Notes to the financial statements for the year ended 31 August 2021
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year Total |
Restricted funds 2021 £ 6,293 4,951,019 3,212,000 984 - 8,170,296 Restricted funds 2020 £ 6,293 4,042,780 2,216,897 983 - 6,266,953 |
Unrestricted funds 2021 £ - 474,545 - 25,482 (4,841) 495,186 Unrestricted funds 2020 £ - 327,465 - 30,617 (4,721) 353,361 |
Total funds 2021 £ 6,293 5,425,564 3,212,000 26,466 (4,841) |
|---|---|---|---|
| 8,665,482 Total funds 2020 £ 6,293 4,370,245 2,216,897 31,600 (4,721) |
|||
| 6,620,314 |
17. Related party transactions
The Charity has not entered into any related party transactions during the financial year.
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