REGISTERED COMPANY NUMBER: (K1493764 (Englnd nd Wales REGISTERED CHARITY NUMBER: 297507 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EJYDED30JUNE 2022 FOR OLD REDINGENSIANS ASSOCIATION LIMITED (A COMPANY LIMITED BY GUARANTEE) Vale & West Chartered Ac¢ouniants VicToria House ?6 Queen Victoria Sireet Reading Berkshire RGI ITG ABISR2GW 1311212022 COMPANIES HOUSE A07
OLD REDINGENSIANS ASSOCIATION LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED30 JUJYE 2022 Page Reference and Administrative Deiails Report of the Trustees 3 5 Independent Examiner's Rew>rt Statement of Fi#ncial Aetivities Blao¢e Sheet Nol¢s to the Financial Siatements 10 to 17 Detailed Statemertt of Fintt£il Activities 18 to 19
OLD REDIJYGENSIANS ASSOCIATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED30JUNE 2022 TRUSTEES M A C Barroii, Events Secrttary (resigned 25.9.21) K C Brown. Archivi51 N C Burrows J D Chadwicl Hon Secretary and Vice-President A D'souza J M Evans - see note in Tru5tee5 Report R G Griffiihs DL E S Holi Chairman l D Mckinnon. Immediate Past President (resigned 9.11.21) A M Robson. Headmaster R J Sawyer J H Short. Immediate Past Presidenl R J Taylor Honorary Treasurer A D Truslove A S Tuggey DL, Presideni (appointed 26 September 2020) C J Widdows Membership Secretary C L Windebank P Whitehead (appointed 31.3.22) F Peck Events Secretsry (aprM)inied 31.3.22) RECISTERED OFFICE Reading School Erleigh Road Reading Berkshire RGI 5LW REGISTERED COMPANY NUMBER (KH93764 (England and Wales) REGISTERED CHARITY NUMBER 297507 INDEPENDENT EXAMINER Vale & We Chanered Accountants Vicioiia HoSe 26 Queen Victoria Street Reading Berkshire RGI ITG Page I
OLD REDINGENSIANS ASSOCIATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED30JUNE 2022 SOLICITORS Blandy & Blandy LLP l Friar Streei Reading Berkshire RGI 2BU BANKERS HSBC 26 Broad Street Reading Beikshire RGI 2BU Page 2
OLD REDINGENSIANS ASSOCIATION LIMITED REPORT OF THE TRUSfEES FOR THE YEAR ENDED 30 JUNE 2022 The Trustees present iheir annual report together with ihe financial staTemenis of the charity for the year I July 2021 to 30 June 2022. The Annual rewrt serves Ihe purposes of trK)ih a TrusÈees' rew)rt and a directors, report under company law. The Trustees confiTTn thai the Annual RepN)rt and financial Siatements of the charirable company comply wilh the current aluI0ry requiremenrs. the requiremenis of rhe charitable oJnpany's governing docurnent and the provisions of ihe Statement of R0MMended Practice (SORP) applicable io Charities preparing iheir account5 in accordance with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {effeciive l January 2015) as amended by Update Bulletin l (effe¢iive January 2015). Since ihe Company qualifies as small under section 382 of the Companies Aci 21M)6, the Siraregic Report required of medium and large companies under the Companie5 Aci 2(M)6 (Strategic Report and Dire¢tors' Report) Regulalions 2013 is noi required. OBJECTIVES AND ACTIVITIES Objective5 and A¢tiwities for public ben¢fil In setting its objectives and planning its aciivitie5 the Tru5tee5 have given careful considerniion to the Charity Commission's general guidance on public FKnefii. The As50ciaiion will encourdge old tN)ys of the Schth)I to become involved in a¢iivilies that will maintsin ihe heriiage of the School. li is important to ihe l¢xal community thar a grammar school oplion should offered to the to%vn of Reading and beyond. In planning aciiviiies for the pasi year. Ihe Associaiion soughi to demonsirate ihe publi¢ benefil to the communiiy fiom its annual programme of aciiviiies. The principal benefit of the Association's activities is to support ihe sch)] through grnnts, awards, fundraising and direct advice and a55iStance. ACHIEVEMENT AND PERFORMANCE Review of aetivities The Association's main invesiments ¢oniinue io be ihe Chariiies Offi¢ial Invesimeni Fund (COIF) Deposii Fund &nd an investhient in property. During ihe year under review. much aciivity has been limiied due ihe Covid-19 siiuation. l. Council was delighied to receive £6,IxKI from the Aust bequey towards supporting the Ar¢hive 2. The ORA donated io support the SchcM)I's International Book Week aThl have pledged to SUPPOrt the Modem Foreign Languages initiative. 3. Additionally. the ORA underwrote exnSe on Reading F.C.s 125 anniversary match vs a School ieam. This helped predominantly to ¢over the initial up front cosi on shirts made for ihe occasion and nearly all costs were recouped through the sales of ihe shins. FINANCIAL REVIEW Investment policy and objectives The Redingensians. Sport5 Ground is being held for ihe long term a5 an inflation*rooftd source of income and poiential windfall ¢apital appreciaiion. If ihe ground 15 designated for housing development this policy will need to be reviewed. At least 750/0 of ihe Association's liquid resour¢es will be held a5 cash deposits at COIF or in the Association's bank aecounis. At the discreiion of rhe Treasurer, in consuliaiion wilh the President and Council. up lo 251b/fy of the A550ciation's liquid iesources may be held in other COIF funds managed by CCLA. said prorM)nion io be rebalanced at least annually if it grows more than 25Yo. The arnounis invested in each cat¢gory will k noted annually in ihe Association's audiied accounts. Page i
OLD REDINGENSIANS ASSOCIATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED30JUNE2022 FINANCIAL REVIEW Reserves policy li is the policy of the Association to utili5e reserves for the benefii of ihe pupils of Reading School. Reserves are considered io be lh¢ value of the Unr¢stricted Fund (excluding designaied reserve5) less the Investment Pmperiy. Reserves should not exceed three times the current yearfs ¢osts. In the event that Reserv¢s exceed this criterion, Council should consider whai aciion is needed to bring the outcomes into line with this policy. Going coneern After making appropriate enquiries. the trustees have a reasonable expectation that ihe charily has adequaie resources to coniinue in operational exi51ence for the foreseeable future. For this reason, they continue to adopt ihe going con¢em basis in preparing ihe finartial stsiement5. STRUCTURE. GOVERNANCE AND MANAGEMENT Legal Status Governartee The chariry is controlled by its governing document, a deed of irust. and consiitute5 a limited company, limiied by guarantee. as defined by the Companies Act 2(N)6_ The A550ciation is a registered charity and that charity is a company limiied by guarantee. The principal aciivity of ihe Association is to advance the education of the pupils of Reading S¢hool by providing or assisting in the provision of educational, CreationaL or oiher charitable facililies for their use. The Associaiion is governed by its Memornndum and Arficles ihus the liability of each member is limited, currently, to ?5p in the evenr of a winding-up. The President. Vice President. Immediate Past President, Treasurer, Company Secretary, Membership Secretary. Events Secreiary and Archivi51. and such other officers as ihe Council shall detem)ine, are elecied by the membership on an annual basis. The Headmasier is a member of Council ex officio. The other Trusiees, up a maxirnuM of 9, are appointed, each on a three-year leTffl but Subje to annual re-election. by the membership_ Elections take place ai the Annual Generdl Meeling and any member is eligible for eleciion ro any of Ihe5e oifices. Any Tmstee eleaed to the Council for ihe firsi lime is supplied with a copy of ihe Memorandum and Articles of the Association, together with a document outlining his role for the proper running of ihe Association. Copies of the minute5 of all Council meetings are supplied 10 all Trustees. whether or not they are able to attend those meelings. At the Association's Annual General Meeting on 28ih September 2019, members adopted revised Articles of Associalion which, in the opinion of ORA Council, better reflert modern governance practices and requiremenis. The Members of the Council of the Aswcialion. aTe. in addiiiorL the Truslees of the charity and Directors of the company. Risk math•gement The Trustees have a duty to identify and review the risks 10 which the charity is exposed and io ensure appropriaie controls are in pla¢¢ to provide reasonable assurnn¢e agahnsi frdud and error. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trust¢¢s (Ivho are a150 the dir¢¢tors of Old Reding¢nsians Association Liinited for the purposes of company law) are responsible for preparing the Rew)rt of ihe Trustees and the finan¢ial siatemenis in accordance with applicable law and Uniied Kingdom A¢¢ounting Standards (United Kingdom Generally Accepied A¢couniing Practice) including Financial Reporting Standard 102 "The Financial Reporting Siandard applicable in the UK and Republi¢ of Ireland" Page 4
OLD REDINGENSJANS A&SOCIATJON LIMTTED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continwed Company law requlres the tnst¢¢s to proor¢ [mal#l ststements for ¢ach ftnancial year which giv¢ a true and faiT Vtew of the slate of affairs of the charitable company and of the incoming resources and application of resour¢es. io¢luding the income and expenditurq of the tharitable collwny foT that period. In preing those financial statements. the trustees are required to select suitsble accounting policies and then apply them CO]51entIy. observe the methods and principles in the Charity SORP. makeiudgeme7)1s gnd estin)at¢s that ar¢ r¢asoDable and prud¢nt: prepare the financial stat¢m¢nts on the going concern basis unle53 it is inappropriat¢ to psn¢ that the ¢haTitable company will conliDue ID business. The trusiees are responsibk for keeping proper accoiinting T¢¢ords which disclose with r¢&sooable accw at any tim¢ the fil]¢141 position of the cbaTit#ble Company aad to enable them to ensure that the financial statements comply with the Companies Au 2006. They are a150 tesponsibl¢ for safeguardiDg the assets of thc chaTitsbl¢ company and hence tor taking reasonable s¢ps for th¢ prevention and det¢¢tion ot fraud other iTregularitie8. Approveii fly or(ier OT the knro OT mwees on......... .... ............................. and sig[d on its behalr by.. E S Holt- Trle¢ Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OLD REDINGENSIANS ASSOCIATION LIMITED Independent eyminer's report to the tntstees of Old Redfittgensins Association Limited Cthe Company,) I report w the charity tnlee5 OD rny examitIon of the accounts of the CompaDy for the year eDded 30 June 2022. Responslbllitles #nd bas1$ of report As tbe ¢harity's trustees of tbe Company (and also its directots for the putposes of company law) you are responsibl¢ for the preparati4)n of the accounts ID aco)rdance with the requirements of the Companie5 Act 2006 ('the 2006 Acf). Havitig satisfied myself that the accounts of the Company are not required to be audited under Part 16 of th¢ 2006 A¢1 and ar¢ eligible for itidependent examin10 I report in respect of my examination of your ¢haTity'$ a¢counts as wried wt under section 145 of the Cbarities Act 2011 Cthe 2011 Act). tn canyills Out my examination I have followed the Dire£ttons giveo by the Chariry Commission under Section 145(5) (b) of the2UII Act. Independent ex•mitter's $tstemeDt i have completed my examinatton. I co1 that no tnatters have come to attention in coollect&on with th¢ examinatson me cause to believe: accounting records wue not kept in respect of the Company as requiTrA by section 386 of the 2006 A¢¢ or the accounts do not aecord with those records" or the accounts do nol comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a tn and fair view wbicb is Dot a matter considered as part ot.an independent examinatt0 or the aUllts have not been prepared in accordan¢e with tbe meth(*ts and prinCleS ot. the Ststement ot" Kecommended Practs"ce tor accounllDg and reponing by chants'es (applicable lo ctwi'tses preparing their accounts in accordance with the Trmanciai KeEK)rtmg 2•tsnoar(i appiicaDie in ttie LJK ana KepubliG oi trejand ltr"KJ" IVXJ). i iRve no CODcerns ana nave come acr055 no Ollr matm m nn¢¢ll0 wiirj exaMUon ro wrÈicn allennon snouia 0¢ (wawn m rep)n. m orner to enaDie a pr(y¢r wk(wswiaJng oi Tn¢ COunts io De r¥#¥nvu. Ixe Gardner FCA Vale & Wesi Chartered A¢countaDts Vi¢tOTia House 26 Queen Victorta Street ReadinR Berkshire RGI ITG Page 6
OLD REDINGENSIANS ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022 30.6.22 Total 30.6.21 Total funds Unrestricted Endowment funds fuThJ Noies INCOME AND ENDOWMENTS FROM Voluntary income 30.780 30.780 20,599 Charitable gttivities Charitable aciiviiies 1.193 Other trading a¢tivities Investment income 478 2,601 3.079 2,949 Total 32.143 2,601 34.744 24,741 EXPENDITURE ON Fundrdising costs 3,079 3.079 62 Charitable 8Ctivities Charitable activities Governan¢e 22538 1,760 2.53S 25,073 1,700 21,840 1.554 Total 27J77 2335 29.912 23,456 Net gain51(losses) on investments (750) (4.739) (5.489) 13,925 NET INCOMEI{EXPENDITURE) 4.016 (4.673) (657) 15.210 RECONCILIATION OF FUNDS Total funds bTought forward 31&790 106,736 425,526 410.316 TOTAL FUNDS CARRIED FORWARD 322006 102,063 424.869 425.526 The notes form pan of these financial statements Page 7
OLD REDINGENSIANS ASSOCIATION LIMITED BALANCE SHEET 30JUNE 2022 30.6.22 Total funds 30.6.21 Toial funds Unresiricied Endowment funds fund Noies FIXED ASSETS Investments Investments Invesrment property 10 13.980 245.000 88276 102.2)6 245.000 107,745 245,000 258,980 88276 347,256 352,745 CURRENT ASSETS Stocks Debtors Cash at bank 12 13 1.539 1339 1,714 2,886 86,712 84J45 13,787 98.132 8)084 13.787 99.671 91,312 CREDITORS Amounts falling due wiihin one year 14 (12.058) (12,058) {8,531) NET CURRENT ASSETS 73,826 13,787 87,613 82,781 TOTAL ASSETS LESS CURRENT LIABILITIES 332,806 102.063 434869 4)5,526 CREDITORS Amounts falling due after more ihan one year (10.000) {10,000) (10,IK)O) NET ASSETS 322,806 102,063 424069 425,526 FUNDS Unrestricted funds Endowment funds 322,806 102,063 318.790 106,736 TOTAL FUNDS 424.869 425.526 The chariiable ¢otnpany is enliiled io exempiion from audil under Seciion 477 of the Companie5 Act 2006 for the year ended 30 June 2022. The membeTS have t required the company io obtain an audit of its financial 5taiements for the year ended 30 June 2022 in a¢cordan¢e with Seaion 476 of the Companies Act 21)06. The noies forni part of these financial ststements Page 8 continued...
OU) REDINGENSIANS AsKlATIoN LtMrrED BAL4NCE SHEET- ¢on¢inued 30 JUNE 2022 The truste¢s acknowledge their resp)Dsibilities for (a) ensuring th&t the ¢harit4bl¢ company keeps QUatIng ordS that comply with Sections 386 and 387 of the Companies Act 2(K16 and (b) preparing financial stat¢ments whicb giv¢ a true and fair view of the swe of affatrs of the charitable company as at the end of each finan¢iai year and of its or deftcit for each fAnanci41 year in accordance with the requirements of Sections 394 and 395 8nd which otherwise comply with the requirements of the Componies Ad 21J)6 relating to financial statements. 50 far as applicable to the chan"table company. "rh¢se tinanci81 ststements hAve been prepar&J a¢COTd with th¢ provIon$ appb'cabk to cbaritabl¢ compatsies subject to the smaii companies reMe. 'I'he tinanciai Ststements werc appToved ty Ihe t50ara ot "i.nL%s and 8uthonsed tor issue on .. atta were sw on Its Dy: E S Holt- Trust¢¢' A S Tuggey- Trustee The not¢s fornj part of these fiDancial stat¢ments Page 9
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ACCOUNTING POLICIES Basis of preparing the financial statements The financial staiemenis have been prepared in accordance wilh ihe Charilies SORP (FRS 102) Accounting and Reporling by Charitie5.' Sraiemeni of Recommended Practice applicable io ¢harities preparing their accounrs in accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effeclive l January 201)). the Financial Re}rtIng Standard applicable in the UK and Republic of Ireland (FRS 102) and ihe Companies Act 2006. Old Redingensians Associaiion Limited meeis ihe definiiion of a public benefit eniiiy under FRS 102. Assets and liabilities are initially recognised at historiral cost or transaction ]e unle$5 Otherwise slated in the relevant accounting policy. Income All income 15 recognised in the Ststement of Financial Activities once the Charity has entiilement to Ihe funds, it is probable that the income will be received and the amount can be measured reliably. Expendilure Costs of geneTating funds are cosis incurred in attracting voluntary income. and those incurred in Irading activities ihat raise funds. Charitable activities and Governance costs are costs incurred on the compan5 operations, including support cosis and costs relating io the governance of the company apportioned io charitable activiiies. All expenditure is inclusive of irrecoverable VAT. Investment property The invesimeni property, a sports ground. is slated ai valuation and an Independent valuation is obtained by the trustees at periodi¢ intervals, usually every five years at the same tiJne that a rent revieiv occurs. In ihe intervening years. the inveslment property is valued by the trustees having regard to any significant changes in circumsiances which have incurred in the year under consideraiion. In norn)al circumstsn¢es the principal factors affecting valuaiion are reni re¢eiYable and long-tem) interest rates prevailing. Stocks Stocks are valued at the lower of cost and nel realisable value. after making due allowance for obsoleie and slow moving items. Taxation The charity is exempr from corpordtion tax on its charitable activities. Fund accounting General funds are unrestricted funds which are available for use ai the discretion of ihe Trustees in furtherance of the general objeciives of the company and which have not been designaied for other purposes. Designaied funds ¢omprise unre51ri¢ted funds thai have been sei aside by the Trustees for particular purposes. The aim a1 use of each designated fu] is set out in ihe note5 to the financial sratements. Page 10 conlinued...
OLD REDINGENSJAIYS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- cootinued FOR THE YEAR ENDED30JUNE 2022 ACCOUNTING POLICIES- continued Fllnd a££ounting Restricted funds are funds which are to be used in accordance with SlfiC $triCt10n5 imposed by donors or whi¢h have been raised by the company for paniculai purposes. The costs of raising and admini51ering such funds are charged against ihe Specific fund. The aim and use of each restricted fund is sel out in ihe notes io the finan¢ial ststements. Investments Fixed asser invesimenis are a forni of financial instrument and are initially 0¥nised ai their iransaction ¢osi and subsequently measured at fair value ai the Balance 5hee( date, unless the value cannoi be measured reliably in which case it is measured ai cost less irnpairm¢nt. Invesimeni gains and losses. wheiher realised or uniealised, are combined and presenled as 'Gainsl{Losses) on investmenis. in the Statetnent of financial activities. Debtor5 Trade atNJ other debiors are recognised at ihe senlemeni amouni after any trade discount offered. Prepayments are valued at the amount prepaid nei of any trnde discounis due. Cash at bank and ID band Cash at bank and in hand includes cash and 5hort-ierfft highly liquid investment5 wilh a shon maiuriiy of three months or less from the date of acquisition or opening of Ihe deposii or similar account. Liabilities and provisions Liabiliiies are recognised when ihere is an obligation at the Balance sheei date as a result of a pasi event, it is probable ihai a iransfer of economic benefit will be required in settletnenL and th¢ amount of the settlemeni ¢an be estimaied reliably. Liabilities ar¢ r¢¢ogni5ed at the amount that the company anticipate5 it will pay to settle the debi or the amount it ha5 received as advanced payments for the gcrt)ds or services it must provide. Provisions are measured at the best estimale of ihe amounts required to settle the obligation. Where Ihe effe¢t of the time value of money is material. the provision is based on the preseni value of those amount5, discounted at ihe pre4ax discount rdte thai reflects the risks spe¢ific io the liability. The unwinding of the discount is recognised in ihe Stat¢tn¢nt of financial aciivilies as a finance c051. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATIOIY UNCERTAIiYTY Estimates and judgTnents are continually evalualed and are based on hi5rorical experience and other factors, including expectsiions of future evenis thai are believed to be reasonable under ihe circumsthnces. The company makes estimaies athl assumptions conceming ihe future. The resuliing accounting esiimaie5 and assumpiions will. by definition. seldom equal ihe relaied actual results_ The estimates and assumptions that have a significant risk of rausing a material adjustment have been carefully considered 10 ensure compliance with the requirements under FRS 10? Page 11 coniinued...
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continwed FOR THE YEAR ENDEDJOJUNE 2022 VOLUNTARY INCOME 30.6.22 Total funds 30.6.21 Total funds Unrestricied Endowment funds funds Donations Rent receivable Subscriptions Sale of ties In¢ome from annual dinner 7,146 13,794 7,711 7,146 13,794 7,711 196 1,933 13.1>0 7,374 75 1.933 30,780 30,780 20,599 OTHER TRADING AcfiviTIES 30.6.22 Total fund5 30.6.21 Total funds Unrestricled Endowment fUJ$ funds Fundraising events INVESTMEIYT INCOME 30.6.22 Total funds 30.6.21 Total funds Unrestricted Endowrneni funds funds tkp05it account inter¢51 and dividend5 478 2,601 3,079 2.949 FUNDRARSIIYG COSTS Raising donations and legacies 30.6.22 Total funds 30.6.21 Total fund5 Unrestricted EThiowmenl funds funds Annual dinner expenses Ties 2.903 176 2,903 176 62 3,079 3.079 62 Page 12 coniinued...
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FINAIYCIAL STATEMENTS- Coniinued FOR THE YEAR ENDED30JUNE 2022 CHARITABLE ACTIVITIES COSTS Direct Costs Support costs Toials Chariiable acliviiies Governance 24.589 25,073 1,760 1,760 24389 2344 26.833 INDEPENDENT EXAMINER'S REMUNERATION 30.6.22 30.6.21 Fees payable io ihe charity's auditors for the audit of the charity's financial statements 630 TRUSTEES, REMUNERATION AND BEIYEFITS There were no Trusiees, remunerntion or oiher berits for the year ended 30 June 2022 nor for Ihe year ended 30 June 2021. Trustees, eypenses There were no irusiees. expenses paid for ihe year ended 30 June 2022 and 30 June 2021. 10. FIXED ASSET INVESTMENTS Listed inYe5tment5 MARKET VALUE At l July 2021 Revaluations 107,745 (5.489) AI 30 June 2022 102256 NET BOOK VALUE AI 30 June 20?2 102256 At 30 June 2021 107,745 There were no investment assets outside ihe UK. 2022 2021 Investments at market value comprise of: Investmenis 102356 107,745 Page li Continued.
OLD REDINGENSIANS ASSOCIATIOIY LIMITED NOTES TO THE FINANCIAL STATEMENTS- tontinued FOR THE YEAR ENDED 30JUNE 2022 INVESTMENT PROPERTY FAIR VALUE Ai l July?021 and 30 June 2022 245,000 NET BOOK VALUE At 30 June 2022 245,000 At30June 2021 245.000 Valuation At l July 2020 und 30 June 2021 245,01)0 Comprising Cost Revaluaiion surplusl(deficit) 2008 2011 2015 25.000 85.0 74.0 61.0 At30 June2021 245,000 The last independent valuation ivas made by Dunster Mort(. Chartered Surveyors. on 30 June 2015 on open market value for existing use basis. Th¢ propeny is for use a5 a spons ground. The Trustees are of ihe opinion ihai the investmeni property valuation has noi materially changed since rhe valuaiion on JO June 2015. 12. STOCKS 30.6.22 30.6.21 Finished go¢)d5 1339 1.714 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.22 30.6.21 Trade debioTS Prepayments aftd accrued income 2.500 386 2,886 Page 14 continued...
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FIJYANCIAL STATEMENTS- coolinued FOR THE YEAR ENDED30JUNE2022 14. CREDITORS: AMOUNTS FALLING DUE WITHIN O]YE YEAR 30.6.22 30.6.21 Accruals and deferred income 12,058 8.531 15. CREDITORS: AMOUIYTS FALLIJ¥G DUE AFTER MORE THAJY ONE YEAR 30.6.22 30.6.21 Oiher loans {see noie 16) 10.000 10,000 Thi5 amount is a non-tnteresi bearing loan facilited by Mr Neil Thomason which is only repayable out of the proceeds of the sale of the Old Bath Road rugby ground. should this occur. 16. LOANS An analysis of ihe maiuriiy of loans is given below.. 30.6.22 30.6.21 Amounts falling between one and two years: Other loans- 1-2 year5 i 0,000 17. MOVEMENT AJY FUNDS Net movemeni in funds At 30.6.22 At 1.7.21 Unr¢stricled fund5 Oiher unrestricted futKls - liquid Designated funds 310.885 7,905 11.921 (7.905) 322006 318.790 4.016 322W6 Endowment funds Endowmeni Funds 106.736 (4673) 102.063 TOTAL FUNDS 425026 (657) 424,869 Page 15 continued...
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- eoolinued FOR THE YEAR ENDED30 JUNE 2022 17. MOVEMENT IN FUNDS- continued Net movem¢nt in funds. included in ihe above are as follows.. Incoming resources Resources expended Gains and Movement 1055e5 in funds Unrtstrieted funds Other unrestricied funds- liquid Designated funds 32.143 {19,472) (7.905) {750) 11.921 {7.905) 32.143 (27J7 (750) 4.016 Endowment funds Endowmeni Fund5 2,601 (2.5351 {4.739) (4,673) TOTAL FUNDS 34.744 (29.912) {S.489} (657) Compargtives for movement in fund5 Net movemeni in fuTrJs Ai 30.6.21 Ai 1.7.?0 Unresiricled funds Other unrestricied funds- liquid Designated funds 301,941 13.71 8,944 {5.806) 310,885 7.905 i li.6)2 3,138 318,790 Endowment funds Endowment Fund5 94.664 12,072 106,736 TOTAL FUNDS 410.316 4?5.526 Page 16 continued...
OLD REDINGENSIANS ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30JUNE 2022 17. MOVEMENT IN FUNDS- continued Comparaiive net movement in funds, included in the above are as follows= Incoming resources Resources expended Gain5 and Movement losses in funds Unrestricted funds Oiher unresiricied funds- liquid DesiEnated fund5 22.206 {15,165) 15.806) I,W3 8,944 (5,806) 22.206 {20.971) 1.903 3,138 Endowment fud$ Endowment Funds 2.53) (2.485) 12,022 12,072 TOTAL FNDs 24.741 (23.456) 13.925 15,210 Endowment funds were bequeathed by Peter Townsend OR (194448) "without iniending to create any trust or legal obligation upon the OR Association". He expressed ihe wish that his bequest be used to buy COIF units and thai ihe in¢otne should be used for the benefit of the School Library or such other purpose as OR Council shall decide. OR Council has respecied Peters investmeni guidance and his desire io support ihe School Library every year since this Ewuesi was received. Designated funds is made up of an unrestricteil donation from Mr Neil Thomason {OR 1966-73) in the amount of £25,000 during ihe year. Council ha5 determined that these fund5 should be designated to SilPPOn the project which is aiming to obthin outline approval for housing developmeni on the Old Baih Road rugby ground. 18. RELATED PARTY DISCLOSURES There were no related party transaciions for ihe year ended 30 June 2022. Page 17