Charlty registration number 307424 THOMAS HARDYE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 AUGUST 2023
THOMAS HARDYE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustses Prol H Grrffiths Mr A Ballenline Mi M Baker MrGB3tt Mr I Cornell Mr G Lancashire Mrs S Walkins Mrs H OvÈr Mr N Johnston Mr N Thornley Clerk to thè trustees Mrs V E Smyth Charity number 307424 Prlnclpal address The Thomas Hardyè School Queén's Avenue Dorchester Dorset DT1 2ET Registered office The Thomas Hardye School Queen's Avenue Dorchesler Dorsel DT1 2ET Ind¢pgndent •xamin•r Pete Cattermole, FCA Wadebridge Housè 16 Wadebridge Square Poundbury Dorche51er Dorset DT1 3AQ
THOMAS HARDYE FOUNDATION CONTENTS Page Trustees, report Independent examlnerfs report statement of financial activitsgs Bal8n¢e sheet Notes lo the financial slatemer 8-15
THOMAS HARDYE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 15 AUGUST 2023 The Trustees present theii annual report and financial slalements for the year ended 15 August 2023. The financial statemants have been prepared in accordance with the accounting policies set out in note 1 to the fin8ncial statements and comply with the Foundation's governing document. the Charitie5 Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommènded Practice applicable lo charities preparing their accoun15 in accordancè with the Financial Reporting Standard 8pplicable in the UK and Republic of Ireland IFRS 1021" The Foundation's Charity Number is 307424. The Foundation 1$ an unincorporated charity ils principal addiess & règislered office is.. The Thoma5 Hardye School, Queen'5 Avenue, Dorchester. Oorset, DT1 2ET. Objeetiv•s and actSvltles The Foundation's objectives are sel out in its goveming document, Charity Commission Scheme dated 9 Ntsvèmber 1992, as amended by Charity Commission Scheme dated 30 July 1999, as amended by Trustees, Resolution d*ed 28 April 2014 as amended by 18501utton dated 7 February 2022. The Thomas Hardye Foundation serves to assist the Thomas Hardye Sthool by the provision and maintenance of school buildings and by assislan¢e to students in need. The aclivilies of the Foundation are to provide lor the maintènance of the school and a551slance of students in need through the careful managemènt of investment portfolios and providing grants and prvzes lo the school and students. The Tr¢Jslees have paid due regard lo guidance on publi¢ benefil issued by the Charity Commission in dèading what activities the Foundation should undertake. Financlal revlow The Foundation's lolal funds at the year end decreased by £411,611 to £11,071,975 (2022 £11,483,586 ) as shown in the Statement of Financial Aolivitie5. This decrease was mainly as a result of the decrease in the value of the fixed assets from deprecAation of £322,097. The Unrestricted Funds have decreased by £268,263 to £8,812.093 12022 £9,080,356). This includes total grants made lo the school of £4.30012022 £829.4001. Annual depreciallon of £322,097 was charged in respect Offed assets. The Unrèstricted Designated Funds was £18.58212022 £18,582). As the trust reached the ie¢oupmént valuè,tha annual transf&r from Unreslricled Funds lo the Pemanènt Endowment as part of the Charity Commission Recoupmerbl Orders was not made. Restricted Funds decreased by £1,008 to £43,198 12022 £44,2CE). Prizes and grants paid out lo students totalled £4,300 {2022 £1,300). Payments lo studènts were partly funded by the annual transfer from UnrestTicled Funds of £3,000. There was an dgcrèase in the Permanent Endowment Funds of £142,340 to £2.198,10212022 £2,340,442) This includes the Iransfei of £68,068 to Unrestricted Funds and the loss in portfolio value of £119,683. The balance sheet shows nel assets of £11,071,975 {2022 £11.483,5861 including long lèasehold land and buildings held al cost less depreciation of £8,673,927. The bank balances at the year end in¢ased by £29,166 to £202,495 {2022 £173,329). The Trustees monilof the level tsf reserves on a regular basis and ctsnsider that they must maintain sufficient reserves to not onty covei the annu81 administration costs and prizes, bul also lo help with tho funding. where possible of the major buildings works in both the short and long temi.
THOMAS HARDYE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 11 is the policy of the Foundation that liquid unrestricted funds which have not been deswJnated for a specific use should be maintained al a level equiv31enl lo between three and slx months. expenditure. Liquid unrestricted funds are currently £136,314 12022 £85,602) Inole 211. The Trustees consider that reserves al this level will ensure that. in the event of a significant drop in funding, they will be able to continue the Foundation's current activities while consideration is given lo ways in which additional funds may be raised. This level of reserves has been maintained throughout thè year. However, the Tiuslees are aware that unrèstricted nel current assets are low following expenditure in recent years on the dining hall and theatre refurbishment and intend lo rÈ51or6 a healthy balan going foNiard5. Stnjeturè. governance and management The Foundation is consliluled as a Charitable Trust (with incorporated Trustees) and registered with the Chaiity Commission. The TrLJ8tee3 who served during thé year and up lo tha date of signature of the finandal stalernen15 were.. Prof H Griffiths Mr A Ballentine Mr M Baker MrGBatt Mr I Cornell Mr G Lancashire Mrs S W81kins Mrs H Over Mr N Johnston Mr N Thomley The Tnjstees of the Foundation must consist of belween len and tsvelve persons Icurrenlly 101 being e04)pled Trustees. Co-opted Tru51ee5 shall be appointèd for a five year term by a rèsolution of the Trustees passed at a Special Meeting. Appointment can be made within one month of thè éxpiration of the retiring TruslÈe's lerrn, the retiring Trustee may not vote on the appointment of hislher successor. The Trustees have assessed the major risks lo which the Foundation is exposed. and are satisfied that systams are in place lo mitigatg exposure lo the major risks. The overriding charitable purpose of the Charity is for the advancement of education for the public's benefit. The Trustèes havè no specific investment policy on ethical, social and environmental investments with the exception that no investments are lo be made in tobacco companies. Policies are in place with regard lo risk rnanagement. safeguarding children, conflict of interest, privacy and Data Protection. Day to day work ol the Charity is organised by the Clerk, with the Trustee5 meeting not less than two limes each year. The Trustees, report was approved by the Board of Tru8lee$. WQQY Pro Trustee riffiths
THOMAS HARDYE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THOMAS HARDYE FOUNDATION I report lo the Trustees on my examination of the financial statements of Thomas Hardye Foundation Ilhe Foundation) for the year ended 15 August 2023. Responsibilitiès and basis of report As the Trustees of the Foundation you are responsible for the preparation of the financi81 statements in accordance with the requirements of the Charities Act 2011 Ith& 2011 Act). I report in respect of my examination of the Foundatitsn's finanaal statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the ChaTity Commission under section 14515llbl of the 2011 Act. Independent examlnerfs statement I have ¢ompleted my examination. I confirm that no matters have Come lo my attenlion in connection with thè examination giving me cause to believe Ihal in any material Tespect.. accounting records were not kept in rèspect of the Foundation as requid by section 130 of the 2011 Act,. or thè financial statements do not accord with those record5'. or the financial slalerrents do not comply with the applicable requiremenls concerning the form and content of accounts set out in the Charities {Accounls and Reports) Regulations 2008 other than any i&quir8ment that the accounls gnie a true and lair VI which is not a rnaller considared as part ol an independent examination. I have no concems and have ¢om& across no othef matttrrs in connection with the examin*ion to which ttenlion should be drawn in this rèport in order to enable a propel understanding of the financial slalèmenls to be reathed. Pete Cattermole FCA Wadebridge Hoijsè 16 Wadebrdige Square Poundbury Dorchester Dorset DT1 3AQ Dated.. IJ ). )z(f
THOMAS HARDYE FOUNDATION STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 15 AUGUST 2023 Unrestricted Unrèstricted Restricted Pemianènt funds designated funds Endowmènt funds 2023 Total Total 2023 2023 2023 2023 2022 Nots$ Donations and legaa&s Investments 10 282 10 74.740 1,282 66,218 67,782 Total income and èndowments 1,282 292 66,218 67,792 74,750 Raising funds 20.807 20,807 24.235 Charitable aclivities 325.977 4.31XJ 330.277 956,680 Other 8,636 8,636 8,748 Totsl resources expended 334,613 4,3CXJ 20.807 359,720 989,663 Nel gainslllosses) on investments 10 1119.8831 1119,6831 1153.045) Net outgoing resources befor• transf•rs 1333.331} {4.008} 174.2721 1411,611) (1.C67,9581 Gross transfers between funds 65,068 3,000 {68,068) Net movemont In lunds 1268.2S3) 11.008) 1142,3401 1411,611) 11.067,9581 Funty balances al 16 August 2022 9,080,356 18,582 44,206 2,340,442 11.,483.S86 12,551,544 Fund balances at 15 August 2023 8,812.093 18,$82 43,198 2,198.102 11,071,975 11.483,586 The statement of financial actNities includes all galns and105ses Tecognised in the year. The statement of financial 8divthe5 includes all gains and losses recognised in the year. All incoma and expenditure derive from continulng actlvilies.
THOMAS HARDYE FOUNDATION BALANCE SHEET AS AT q5AUGUST2023 2023 2022 Notès Fix•d assèts Tangible assets Investments 12 13 8,873,927 2,198,102 8,996,024 2,340,440 10,872,029 11,336.464 Current assets Stocks Debtors Cash at bank and in hand 14 15 283 15.473 202,495 283 18,358 173,329 218,251 191,970 Creditors- amounts falling due within one year 16 118,3051 {44.848) Nel CLtrr¢nt assets 199,946 147,122 Total assets le ¢urr•nt Ilabilities 11.071,975 11,483,586 Capltal funds Permanent endowment funds 20 2,198.102 2,340.442 Income funds Restricted funds Unrestricted designated funds Unreslricled funds 20 20 20 43,198 18,582 8,812,093 44,206 18,582 9,080,356 11,071,975 11.483.586 The fin8nei81 statements were approved by th8 Trustees on ... Prof H Tru$ts& riifiths
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 15 AUGUST 2023 Accounttng polleie$ Charity inforniation The Foundatitsn is con51iluled as a Charitable Tru51 (with incorporated Tnjstses) and registered with the Charity Commissbon under registration numbeT- 307424. 1.1 Accounting convention The financial slalernenls have bean prepared in accordance with thè Foundation's goveming documents. the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities prgparlng IheiT accounts in accordance with the Financial Reporting StaNdard applicable in the UK and Rèpublic of Ireland IFRS 1021° las amended for accounting perlods commencing from 1 January 20161. The Foundation is a Public Benefit Entity as defined by FRS 102. The financial slalemenls are prepared in stèding, which is the functional currency of the Foundation. Monetsry arnounls in these financial statements are rounded to the nearest £. The financial statements have been prepared under the histoiical cost convention. The prineipal a(unling policies adopted are set out below. 1.2 Charitable funds Oesignated funds comprise funds which have beèn sel aside al the discretion of the Trustee5 lor Bpecific purposes. The fund was set up to meet the obligations under the Charrty Commission Recoupment Orders being the allo¢alion of£458.75 per annum to a PerTnanenl Endowment Fund (Recoupmenti. Restricted funds are subject lo specAfic conditions by donors as to how they may bè used. Restricted funds principally rèlate lo prrLe5 paid to students. Funds a18 topped up annually by the trustees lo ensure payment of prizes. Endowment lunds are subject lo specific conditions by donors that the capital must be maintained by the Foundation. The Endowment Fund represents the original trust fvnd. subsequent additions have included the growth in the share portfolio and the discharge recoupments. The Recoupment Fund represents amounts set asidè to dale under the obligations of thè Charity Commission Recoupmfynl Orders for the previously spent Permanent Endowments. 1.3 Incoming resources Income is reeognised when the Foundation is legally enlilled lo il after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will bè rè¢eived. Cash donation$ are recognised on receipt. Other don8tion8 are recognised once the Foundation has been notified of the donation, unless perfomance ¢¢)ndilions require deferral of thè amount. Income lax recoverable in relation to donations rec&ived under Gift Aid or deeds of covenant Is iecognised al the time of the donation. Legacie5 8ie recognised on receipt or othe]wise rf the Foundation has been nolffied of an irnpending distribution, the amount is known. and 18¢gipl is expected. If the arnount is not known. the legacy is treated as a contingent asset.
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 Accountlng pollcies (Continued) 1.4 Resources ¢xp•nd Expenditur8 is recognised once Ih¢re is a legal or constructive obligation tts transfer economi¢ benefit to a third party, il is probable that a transfèr of econc*mic benefits will be required in setdement, and the amount of the obligation Can be measured reliably. Exp8nditure is classified by activity. The co8ts of each activity are made up of Ihe total of direct costs and shared Costs, including support costs involved in und$rtaking each activity. Direct cos15 allTibutable to a single activity are allocated directly lo that activity. Sh8red costs which contribute to more than one actNily and support cos15 which are not attributable to a single activity are apportione(I betweèn those activities on a basis consistent with the use of resources. Central staff c051s are allocated on the basis of time Spent, and dèpreuation charges arè allocated on the portion of Ihe asset's usè. 1.5 Tanglble fmed a¥sttts Land and buildlngs are held at cost less depreciation. Computers and office fumiture are held al costs less deprecialion. Depreciation is regnisert so as to write off the cosl or valuali¢)n of assèts le5S their residual value3 over the usefvl lives on the following bases.. Land and building5 Computers & office equipment Slraighl line over 5012S years 20°A reducing balance The gain or 1055 arising on the disposal of an asset 15 determined as the dlfference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial adivilies. 1.6 Flxed asset inve$tm•nts Fixed asset illveslments are initially mèasured al transaction prtce exduding transaction costs. and are subsequently measured at lair value at ea¢h reporting date. Changes in fair value are recognsed in the coiresponding fund for the year. Transaction ¢osls are expensed 85 incurred. 1.7 Impaim)ènt of fixed ass•ts At each reporting Ènd date, the Foundation rewews the carrying amoLbnts of Its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indtstion exists, the recoverable amount of the asset is estimated in ordèr to determine the extent of the impaiirnent loss lif any). 1.8 stocks Stocks are staled al the lower of cost and estimated selling price lèss costs lo cornplète and sell. Cost comprises direct materials and, where applicablè, direct labour costs and those oveiheads that have been incuried in bringing the slocks to their present location and condilion_ Items held for distribution at no or nominal ¢onsideration are measured at the loweT of replacèment cost or cost. 1.9 Cash and cash equivalènts Cash and cash equivalents include cash in hand, depO$ts hèld at call with banks, other short.lerm liquid investments with original maturities of thitse months or less, and bank overdrafts. 1.10 Financial instruments Financial instruments are recognised in the Foundation's balance sheet when the Foundation bècomes parly lo the contractual provisions of the instrument. Financial a55et5 and liabilities are offset, with the net amounts presented in the financial slalements, when there is a legally enforceable right 10 Sel off the recognised arpounts and there is an intention 10 5etde on a net basis or to realise thè asset and sellle the liability simultaneously.
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 A¢¢ounting policies (Continued) Basic financial assets, which in¢lude debtors and cash and bank balances, are initially rneasL¢red at transaction price including transadion cos15 and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the presenl value of the future receipts discounted at a market rale of interest. Finanual assets dassified as recèivable within one year ale not amortised. Basi¢ financial liabilities 8asic financial liabilities, including creditors and bank loans are initially recogni5ed al transaction prfce unless the arrangement con5tilules a financing transaclitsn. where the debt instrument is measured al the prèsent value of the future payments discounted 81 a market rale of interest. Financial liabilrties elassified as payable wtthin one year are not amortised. Debt instruments are subsequently cafried al amortised cost, using the effeCte Interest late method. Trade creditors are obllgalions to pay for goods or setvices that have been acquired in the ordinary course of opèrations from supplier5. Amoun15 payable are classified as cvrrenl liabilitie5 if payment is due within one year or less. If not, they are presented as non-cuiienl liabilities. Trade creditors are recognised intlially at Iransaclion price and subsequently measured at amortbsed Cost using the effective interest method. Dona0¥ and legacies R•$tri¢tsd funds Restricted funds 2023 2022 tkjnations and gifts 10 io Investments Unrestricted Restrleted Endowment funds funds fund$ Total Total 2023 2023 2023 2023 2022 Investment income 1.282 282 66,218 67.782 74,740 Forthe year endèd 15 August 2022 119 18 74.803 74,740
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 Raising fund5 Endowmènt funds 2023 Total 2022 Portfolio rnanagement feè 20.807 24,235 20.807 24,235 Charitable activitÈe¥ 2023 2022 Depreciation and impairment Rent paid Wages- 50°/o Charitable THS Maintenance grant Grant for school prizes and Oldfield fund Thealfe grant Profimoss on plaques 322,097 322,099 3,878 3,878 29,400 1.300 600,000 4,300 330,277 956.680 33CI,277 956,680 Analysis by fund Unreslricled funds RestricÉed funds 325.977 4,300 955,380 1,300 330,277 956,680
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15AUGUST2023 Grants payablè 2023 2022 Grants lo inslilulions: Maintenance grant Theatre grant School prizes Oldfield grant 29,400 600,000 1,300 1,200 1,300 3,000 4,300 631,900 Al a meeting of Trustees on 20 September 2021, the Trustees received a presentation from the We55ex Mulli Academy Trust Chief Executive, on the current state of the School theatre. plans for refurbishment and 51wrce5 of funding already secured. The Trustees consideTed the information presented to them and forrnally agreed a gr8nl of £600.000 lo The Thomas Hardye School. Thi5 grant was funded by a transfei frorn the Perrnanert Endowment Fund. Permission for the transfer was sought and obtained under section 282 of the Charrtes Act 2011. Trustees None of the Trustees lor any persons connec*ed with them) received any remuneration or benefi15 frDm the Foundation during the year. Travel expenses paid amounted to nil {2021 nill. Employees The average monthty nurnber of employees during the year was.. 2023 Number 2022 Number Total No employees currently receive remuneiation in excess of£60,000 per annum. Employment cost5 are recharged to the Foundation nel of social security costs. Other expendlture Unrestri¢tgd funds Totsl 2023 2022 Accountancy Wages- 50°h non-chantable Bank char985 & interest ICO Costs 4,708 3.878 10 40 4,800 3,878 30 40 8.638 8.748 10-
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 15 AUGUST 2023 10 Net gainsl{losses1 on investments Endowment fund¥ 2023 Totsl 2022 Revaluation of investments Gainlllossl on sale of invésbn8nts {119.6831 1191,8521 38,807 1119,6831 1153,0451 11 Taxation The charity is exempl from lax tsn in¢ome and gains falling within section $05 of the Taxes Act 1988 or section 252 tsf the Taxation of Chargeable Gains A¢t 1992 to the extent that these are applied to its charitable objects. 12 Tangible fixed a$$¥ts Land and Compvtors & bulldlngs offico ulpmont Total Cost At 16August 202Q 15,393.143 3,234 15,396,377 At 15Augusl 2023 15,393,143 3,234 15,396,377 D•prèciation and impairnRnt Al 16 August 2020 D8proaation charged in the year 6,397,134 322.094 3,219 6.400,353 322,097 At 15 August 2023 6,719.228 3,222 6,722,450 Canylng amount At 15 August 2023 8,673,915 12 8.673,927 Al 15 August 2020 8,996,009 15 8,996,024
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15AUGUST 2023 13 Fixed asset investm•nts Inv8slmnt Recoupment portfolio Total Cost or valuatlon Al 16 August 2022 Valuion changes Management fee 2,203,219 (120,9891 122,6551 137.221 1.306 2,340,440 1119,683} 122,655) At 15 August 2023 2.059.575 138,527 2.198,102 Carrylng amount At 15 August 2023 2.059,575 138,527 2,198,102 At 15 August 2022 2,203,219 137,221 2,340,440 Investment portfolio includes amounts held in the Quilter Cheviot Portfolio and ¢ash amounts held in a deposf( account by Quilter Cheviot as long term funds for future investments. Recoupment includes amounts held in COIF units. The COIF Units are held in the accounts based on the 37 January 2023 valaution provided by COIF. The Trustees feel that this value materially refleets the balance as at 15 August 2023 and that the cost of obtaining a separate valaution at this date is disproportionate. As the COIF fund has exceeded tha amount intially granted by the Charily commission a request can be given to formally discharge the fund. 14 Stocks 2023 2022 Finished goods and goods for resale 283 283 15 Debtors 2023 2022 Amounts falllng due withln one year: Other debtors Prepaymènts and accrued income 15,461 12 18,358 15,473 18.358 12-
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 16 Creditors.. amounts falling due whthin one yèar 2023 2022 Trade Creditors A¢cruals and deferred income 39 18,266 1.892 42.956 18.305 44,848 17 Endowment funds Endowment funds represent assets which musl be held permanently by the Foundation. Income arising on the endowment funds can be Used in accordance with the objects of the Foundation and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At 16August 2022 Ineomlng resour¢ès Resources èxpended Transfè Gains and At 15 August losses 2023 Pemianent endowmènts 2,340,442 66.218 120,80n 168,0681 1119,6831 2,198,102 Pr•vious year. At 16 August 2021 Incoming resources Re$ourc•$ expended Transfers Galn$ and At 1S August 108se$ 2022 Pemian•nt andowments 3,117,263 74,603 124,23S} 1674.1441 1153,045} 2,340,442 18 Re$trl¢t•d funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 16 August 2022 Incomlng r•sourc8s Resources expended Transfors At 15 August 2023 44,206 292 (4,3001 3,000 43,198 Pr•vlous year: At 16August 2021 Incoming resources Resources expendèd TransfeTr At IS August 2022 42,478 28 (1,300) 3,000 44,206 13-
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST 2023 19 Unrèstricted funds The unrestricted funds of the tharity comprise the unexpended balances of donations and grants whith are not subject lo specific condititsn5 by donors and grantors as to how they may be used. These include designated funds which have been Sel aside out of unrestricted funds by the tru51ee5 for specific purposes. At 16 August 2022 Incoming resources Resources expended Transfors At 15 August 2023 General funds 9,080,356 1.282 1334.6131 65.068 8,812,093 Previous year: At 16 Augu$t 2021 Incoming Resources expènd•d Trnnsfgr¥ At 15 AugU¥t 2022 General funds 9,372,762 119 1964,1281 671,603 9.080,356 20 Movomant In fund$ Movement in funds al4nce at 16August 2022 Incomlng sourtès Rèsourtès expondgd Translors Galns and Balancg at lossès 1SAugust 2023 Unrestricted Funds Unrestricted D&signaled FurKIs Restricted Funds Permanent Endowment 9,080,356 1.282 1334,613) 65.068 8.812,093 18,582 44,206 2,340.442 18.582 43,198 2.198,102 292 66,218 {4,300) 3.000 (20,807) 1119,683) 168,068} 11,483,586 67,792 359,720 {51,615) {68.0681 11.071,975 14-
THOMAS HARDYE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 15 AUGUST2023 21 Analysls of net assèts botween funds Unrestricted Unrèstrlcted RtriCtd Pernianent Funds Designated Funds En(lowment Fund$ 2023 Total Total 2023 2023 2023 2023 2022 Fund balanees at 15 August 2023 are represented by.. Tangible assets Investmen15 Current assetlI13biIiIieSI 8.673,927 8,673,927 8.996,024 2.198,102 2,198,102 2.340,440 199.946 147,122 138,166 18,582 43.198 8,812,093 18,582 43,198 2,198,102 11,071,975 11,483,586 Unrestricted fund5 current assets include £15,461 12022 £18,358) of dividends declared on the endowment fund's investment portfolio before the year end which weie receivèd after the year end. Oesignaled funds include a provision for the amounts owed lo the COIF fund before il can be discttarged. Once Ihe discharge has been sought and there are no further obligations to the COIF then the designated fund will be trdn5fered to the unstriCted fijnd. Amounts held on the COIF fvnd will be added to the Permanent Endowment investment portftslio. 22 Related party transactions TheTe were no disc105able related party transactions during the year12022- none). 23 Subsidiarie$ Detsils of the Foundation's subsidiary charitie$ ara as follows, e8ch are registered by the Chairty Commission under Thomas Hardye Foundation Ino. 3074241= 1. N L Baker Prlze Fund 2. The Tesco pr 3. Chairman of Govèmorfs Award 4. Colonal Oldfield for Scholarships 5. The Thomas Hardye Scholarship 6. Napie¢s Prize Endowrnenl 7. The Balfour PfEe for Good English Writing, ICW Dorchester Cty Grarnmar School for Girls 15-