Charlty number: 309085 ST BARTHOLOMEWS SCHOOL FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
ST 8ARTHOLOMEW'S SCHOOL FOUNDATION CONTENTS Page Reference and Admlnistrativa Dètails of thg Charltyi Its Trustee8 and Advis9r8 Trusto0$' Report &8 Independent Examlner'8 Report Statgment of Flnanclal Actlvltles 10 Balance Shoet 11 statement of Cash Flows 12 Note8 to the Flnanclal Statements 1&20
ST BARTHOLOMEWS SCHOOL FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 T$109$ Appointed by Newbury Town Council: Counclllor N Fool CounGillor S Slack Appolnted by West Bark8hlr8 Coun¢ll'. Counclllor L Dillon Counclllor L Doherty Counclllor B Drummond Appolnted by Newbury Alm$house Trust Mr M Hart, Vice Chairman Communlty Trustees Mr l M Campbell {reslgned Ph October, 20201 Mrs J Cllfford, Chair Mr T Emberlin Mr R Mead Mr L Pummell lappolnted 19th November, 2020) Mrs P Ray Mr M Srrtith Officers Mr M Smith, Treasurer Mrs H Sutherland, Clerk Charity reg18tered number 309085 Prlnclpal offlc• Sl Bartholomews School Andover Road Newbury Berkshlre RG146JP Accountants Jam8s Cowper Kreston Chartered Accounlanls Greenham Business Park 2 Communlcallons Road Newbury RG19 6AB
ST BARTHOLOMEIVS SCHOOL FOUNDATION Bankers Lloyd8 Bank plc 5 Brldge Street Newbury Berkshlre RG14 5BQ SollGltor8 Coffln Mew Rlvergale Hou88 London Road Newbury Berkshire RG14 2PZ Investm6nl Advisors Black Rock Investment Managers 33 King William Street London EC4R 9AS
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present their annual report together with the financial statements for the year ended 31 March 2021. The Trustees confirm that the Annual Report and financial slalemenls of the charity comply with the current stalulory requirements, the requirements of the charitvs governing document and the provislons of the Slaloment of Recommended Practice {SORP) appllcable to charities, preparfng their accounts in accordance with the financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leff8ctive 1 January 2019}- STRUCTURE. GOVERNANCE AND MANAGEMENT a. Govemlng do¢umont The St Bartholomews School Foundation was formed as a charitable foundatlon (Charity No. 3090851 under Iru$l deed dated 10 February 1910, as modKled by subsequent orders. Thls scheme was replaced by a now scheme dated 18 October 2007. There have been no chang88 In the objectives slnce the last annual report. b. Govemlng Body and organlsatlonal managoment The Charity is manag8d by 2 Board of Trustees whose delaS19 are listed under the reference and administration detalls secllon. The Truslegs meet at least three tlmes ea¢h year and receive agendas, mlnutes and papers prepared by the Clerk. Decisions are taken by majority voting where nece88ary. usually by show of hands. Meetings are chaired by the elected Chair or Vice-chairman and minutes are taken by tho Clerk. In between Trustees, meetings urgent decisions can be taken by Ihe Chair, Mrs J Cllfford, Vice-chalr, Mr M Hart and Treasurer, Mr Martin Smith. The day to day admlni$tralion of the Charity is delegated lo the Clerk to the Tru51ees, Mrs H Sutherland. In 2014 il w88 agreed that the number of TTuslees would reduce from seventeen to twelve when Irrent appointments explre. Under Ihe new structure two Trustees are aptx)inled by Newbury Town Council, three by West Berkshlrè Council and one by the Newbury Almshouse Trust. These are known as Representallve Trustees. The remalnlng six Iruslees are designated Community Twslees. ¢. Re¢rultment and tralnlng of trustee8 Representallve Trustees are appointed after thelr respective organlsatlon's Internal nomination pmcesses are complete. Communlty Trustees are recmited in a variety of wayg, Sncludlng Informal dl8cusslon8 wrf(h the School's Governors and an open recruilmenl process when required. All CommunityTruslees are chosen for their personal attributes and experience, necessary to malntain an appropriate balance of Skllls and professionalism on the Trustee Board. I rustees arè Inducted by the Lhair, Vice£halr and the Clerk following recrultmenl and are encour2ged to malnlain thoir knoedge of general charlly law and regulatory mallers vi8 the Charity Commission webslle and educational inilialives.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES, REPORT Icontlnuedl FOR THE YEAR ENDED 31 MARCH 2021 d. Rlsk managemont The Trustees are responsible for the Identificallon of risks inherent within the Charity. their potential impact on ils operations and the implementallon and malntenan¢e of a System of control In order to millgate those risks. The Trustees periodically review rlsk and th8 key controls maintalned by the Charity which Indude: formal aggndas for all meetlngs well established organlsallonal structure and reporting lines dear aulhorisalion and delegated responslbilllies regular review and reporting of financlal poslllon use of external professionals for advlce where thè necessary experiise is not available from wilhln th8 body of Trustees. Legal, financial, commercial and investment advlsers have been used during the year. The Trustees are satisfied that any major risks have boen identified and mitigated where necossary through thelr risk management pmcesses. OBJECTIVES AND ACTIVITIES a. Objectlveg and actlvltles for publ1¢ bonofit The princlpal objeotive of the Foundation is lo pmvlde educational benèfits to the students of Sl Bartholomew'$ School. The Trustees are aware of the Charlly Comml88lon's general guidance on public benefit which has been con81dered when revlewing poll¢y and objectives. The Foundatlon 1$ re8ponslble for admlnisterlng perman8nl endowment funds and assets which are held in portFollo of cash. managed investments, land and prop8rty. The Foundation owns the large majorK(y of the land and bulldings of the School, including playing fleld8, all of whSch have been leased to the School. The buildlngs have bgen removed from the Balance Sheet of the Foundallon as disclosed In note 17 to the accounts. The Foundation owns some allotment land called Parsons Green In the town, whlch Is let to the Newbury Town Council. There is also a properly al No. 4 Buckingham Road, Newbury. The Foundation is the custodlan of many prlze funds, some re51ricled in purpose, but all Intended lo reward good work, effort or achlevemenl on the part of pupils al the Schcx)l. These prize funds have been consolldaled under a new charlty s¢heme dated 18 October 2007 known as the Sl Barlholomev/$ School Foundatlon Consolidated Prize Fund. The Foundatlon is supported by one parl-lime clerk. ACHIEVEMENTS AND PERFORMANCE . A¢higvemgnts and performance The Trustees lake a keen Interest in the development of the SGhool.11 is their objective to balance risk and reward and opllmise the total return on the Foundallon's investments in order to provide funds for those acllvllles which cannot be mel from other sources. The Trustees are mindful of their obligallon lo future generations of students in their execution of the management of the charity's permanent endowment and other assets.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES, REPORT Icontlnuedl FOR THE YEAR ENDED 31 MARCH 2021 b. Investment pollcy Th8 Trustees have appointed Black Rock Inv88lment Managers to manage the Foundation's Investments. The Fund Manag&rs Issue quarterly stalemenls and detailed valuations and porrfolio reports each year. The Trustees r8vlew the performance of the Foundation's investments on a periodic basis. In general terms, the Foundatlon seeks a mlxiure of capllal growth and income generallon from the performance of Its inveslmenl8. FINANCIAL REVIEW a. Flnanclal revlew The aGGounls for the year ended 31 March 2021 show income of £ 41,400 {2020'. £37,976) as detailed on page 10 of the acGounls. Investment income continued lo be generated from monies held on deposit, from divldends and from lelling investment property. Dividend income was higher than in the prevlous year, the prior year being affected by the transition lo new investment funds. The Foundation's investment property at 4 Bu¢kingham Road continues to prcrfluce useful rental income and long 16mi capital growth for the charlly. The estimated market valu8 of the property as at 31 March 2021 was £75D,00012020.' £650,000). Land owned by the Foundatlon 2nd used as allotments {Parson8 Greenl Is rented lo the Newbury Town Councll 81 £850 per 8nnum. Charitable expenditure predomlnandy comprfsed donations lo support the awarding of school prizes. The EndowTnenl funds stood al £1,730,265 at 31 March 2021 compared wth £1,481,727 al 31 March 2020. Th8 Permanent Endowment of tho Foundation includes funds held in Funds managed by Black Rock Investment Managers. The value of the investments increased by £145,865 durlng the year compared with a decrease of £105,143 In the previous year. b. Slgnlfi¢ant d¢velopmonts durfng thg year Th8re were no significant developments during the year. . Reserves policy The Trustees do rK)t have a formal polioyfor determining the level of ¢8sh reserve5. However Ihelr pracllce h88 been lo maintain sufficient liquid assets in an interest bearing deposit account lo enable the Foundation lo meet unexpected expenditure, such as uninsured losses or urgent repairs to the s¢hool buildings that could not be mel by the School or the Department for Education. Currently these cash reserve5 sland al £154,292 12020.. £127,599). The PAze Funds which were consolidated under a new scheme dated 18 October 2007 ¢onlinue lo accumulate income. Each year the Trustees pay for 8 range of prlzes award6d lo students al the School and meet the oosls of school community events from gener21 income. Specific unrestricted fund income le.g. the Repair and Improvement Fund) Is belng used for speoial projects undertaken by the School. The level of reserves Is consldered lo be approprlate and at a prudenl level.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES, REPORT Icontlnuedl FOR THE YEAR ENDED 31 MARCH 2021 PLANS FOR THE FUTURE a. Future developments The Foundation has been part of the Sl Bartholomev/s community for more than a Genlury, in which lime the School has gone from strength lo strength. The Foundatlon Trustees opplaud the way Sl Barlholomew's School has successfully adapted to the challenges of the pandomic- they look forward to working with the School's leadership team and governing body lo idenllfy the best ways the Foundation can benefit this and future generations of Sl Bartholomews slud&nls. Trustees. responslbllltles statement The Trustees are responslble for preparfng the Trustees, Report and the flnanclal statements in accordance with applloable law and United Klngdom Accounting Standards Iunlled Klngdom Generally Accepted Accounting Practice). The law appllcable lo charllles In England & Wales requires the Trustees lo prepare financlal 8t21ements for each financial year whlch glve a true and falr view of the stole of affairs of the charity and of the Incomlng resources and appllcallon of resources of the charlly for that p&riod. In preparing these flnanclal ststements, the Trustees are requlred lo.. sele¢1 suitable accountlng pollcles and then apply them con818tenlly', observe the method8 and prlnciples In the Charilles SORP,. make judgments and aOUntIng estlmates that are reasonable and prudent., prepare the financlal statements on the going concern ba$is unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responslble for keeping pmper ac¢ounling records that are sufficient ID show and explaln the charills transactions and disclose wlh reasonablè accuracy at any lime the financial position of the charity and enable them lo ensure that the financlal Slalements comply wilh the Charities Act 2011, the Charity {A¢¢ounts and Reports) Regulation5 2008 and the provisions of th8 trust deed. They are 2180 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the pVention and detection of fraud and other irregularities. This report wa8 approved by the Trustees on 23rd November, 2021 and signed on their behalf by.. Mrs J Cllffor(I, Chair Mr M Smlth, Troasuror
ST BARTHOLOMEW'S SCHOOL FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021 Independent Examingr's RgPQrt to thg Trustees of St Bartholomow's SGhool Foundatlon {thg 'charlty'> I report lo Ihg charity Trustees on my examlnallon of the accounts of the charlty for the year ended 31 March 2021. This report 15 made solely lo the charitys Trustees, as a body, in acoordancewllh Part 4 of the Charities (Accounts and Reports) Regulallons 2008. My work has been undertaken so that I mlght state lo the charitls Trustees those matters l am required lo stale to them in an Independent Examlnels Report and for no other purposo. To the fullest extent permilled by law, I do not accept or assume responsibllily lo anyone other Ihan the charlly and the charitys Tru$lees as a body, for my work or for this report. Responslbllltlas and Basis of Roport As the Trustees of the charity you are responslble for the preparation of the accounls In accordance wllh the requlremenls of the Charilles Act 2011 {'Ihe 2011 Act')- I report in respect of my examinatlon of the charlW$ accounts carried out under secllon 145 of the 2011 Act and in carying out my examlnatlon I have followed all the applicable Directions given by the Charity Commission under secllon 145{5llbl of the 2011 Acl. Independent Examlnaff8 Statement I have completed my examination. I can conflrm that no matters have Come lo my attention In connection wlth the examination giving me cause to believe that in any materSal respect.. accounllng records wer& not kept In rospeGt of the charity as required by sectlon 130 of the 2011 A¢l,' or the accounts do not accord with those records., or the accounts do not comply with the appllcable requirements conG8rning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requlrgmenl that th8 acGounls give a u8 and fai¢ view which Is nol a maller considered as part of an independent examinatlon. I have no COnrn8 and have come 8cro88 no other mallers in connection with the examination to which all8nlion should be drawn in thls report In order to enable a proper understandlng of the accounts to be rea¢hed. Slgned.. Dated: 2411112021 M N Farwell MA FCA DChA James Cowper Kreslon GnhaM Business Park 2 Communications Road Newbury RG19 6AB
ST BARTHOLOMEWS SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Endowmgnt Unre8trlcted fund8 funds 2021 2021 Total funds 2021 Total funds 2020 Note Income and endowmonts from: Inv8Stments 2 725 Total Income and ondowments Expendltura on.. Raislng funds Charll8ble a¢livities= Direct costs GovernanGe 3,199 3,199 3,029 6,050 6,050 13,293 Total Expenditure Net Incomé l {gxponditurg) before Investment gainslllosses) Nel gainsl{lossesl on Investments Not Income l (oxpandlturo> bofora othor recognl$ed galns and loss¢$ 3,725 244813 25,968 29,693 24S 865 18,531 248,538 27,020 275,558 (86,6t2) Net movement In funds 248,538 27,020 275,558 {86,6t2) Raconciliation of funds., Total ndS brought forward Total funds cayrled fonvard 634 The notes on pages 13 - 20 form parl of theso financial statements. 10
ST BARTHOLOMEW'S SCHOOL FOUNDATION BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Noto Flxed assets Tanglble assets 194,204 194,204 Investment propety 750,000 650,000 TotAI tanglble assets 944,204 844,204 Investmen15 812208 662 618 1,756,412 1,506,822 Current a88ets Cash at bank and In hand Debtors 154,292 781 127,599 1,450 Crltors. amounts falling due thIn one year Net currènt assets 153 318 Net as8at$ Charity Funds Endowment funds 11 1,730,265 1,481,727 Unrestricted fLfnd8 11 152 Total funds The financial statements were approved by the Tru81ee$ on 23rd November, 2021 and signed on their behalf, by.. rs J Clifford. Chalr Mr M Smlth, Treasuror The notes on pages 13- 20 form part of these financial statements. 11
ST BARTHOLOMEW'S SCHOOL FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Note Cash flows from operatlng actlvltles Net cash used in operating aclivllles 14 Cash flows from investing aGtivitlo$: Dividends, interest and rents from investments Ngt ca3h provided by invgsting activitigs Chango In ¢ash and ¢a8h oqulvalonts In the year 26,693 11,967 Cash and cash equivalents brought forward 127 599 115632 Cash and cash equlvalents carrled forward The notes on pages 13- 20 form part of these financial 5tal8ments. 12
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Ac¢ountlng Polloles 1.1 Basls of preparatlon of flnanclal statements The financlal slalements have been prepared under the historical cost convenllon wth items recognised al cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial slalements have been prepared in accordance wllh the Statement of Recommended PraGIIGe.' AGGounting and Reporting by Charities preparing their acGounls in aGGordanGe with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102, effective 1 January 2019) and Financlal Reporting Standard appllcable in the Unlted Kingdom and Republic of Ireland (FRS 1021 and Charities Act 2011. st BaTlholomeWs School Foundallon conslllutes a public benefit entity as defined by FRS 102. 1.2 Fund accountlng General funds are unreslrfcted funds which are available for uso al the dlscretlon of th8 Trustee8 In furlherance of the general objeGtives of the charity and which have not b88n designated for other purposes. Investment inGome, gains and losses are allocated to the appropriate fund. 1.3 Income All Income Is recognised once the charity has entlllem6nt lo the Income, il is probable that the InMe wlll be recelved and the amount of incorne receivabl6 can be measured reltably. Interest on funds held on deposlt Is Induded when recelvable and the amount can be measured rellably by the charily., this Is normally upon notification of the Interest pald or payable by the bank. 1.4 Expéndlturè Expenditure18 8ccounted for on an accruals basls and has been Included under expenses categor$88 allocated lo aclivilles. Where costs cannot b8 dlreclly allributed to partSoular actlvltles they have been allocated on a basis consislenl with the uge of the resources. Charitable artivilies and Governance costs are costs Incurred on the charltvs operation8, Includlng (x)sts relating lo the governance of the charity apportioned lo charitabl& activities. All expenditure 15 inclusivo of irrecoverable VAT. 1.5 Tangible fixed assets and depreclatlon The land held for use by the charity as al 1 April 1996 has been shown on the Balance Sheet at Ils valuation on 1 April 1996. The value of Ihls land is £174,145. In accordance wilh seelion 17 of FRS 102 this valuation has not been updated. Additions to land subsequent to this have also been Includ at cost. Th& land is not depreciated. 13
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 1.6 Investment property Investment properties are inllially recognised al their transacllon cost and subsequently measured al falr value. Gains are r8cognlsed In the Statement of Flnanclal Activities. Investment gains and losses, whether realised or unrealised, a combined and Shown In the heading 'Net g&ins/llosses) on Inve81ments' In the Statement of Flnancial Aclivlties. 1.7 Investments Fixed asset Inve81ments are stated at their open market value at the Balance Sheet date. Investment gains and losse8, whether realised or unrealised, are combined and shown in the heading 'Nel gainslllosses) on Investments, In the Statement of Financial Aclivilies. 1.8 Cash at Bank and In hand Cash 21 bank and in hand includes cash and short term highly Ilquld Investments wllh a short malurlly of three months or less from the dal8 of acqul8ltlon or opening of the deposll or $Smllar account. 1.9 Liabilitigs Liabilities are recognlsed when there is an obligation at the Balanc8 Sheet dal8 as a result of a past event, il is probable that a transfer of economic benefit will be requlred In settl8menl, and the amount of the selllement can be estimated reliably. Llabililies are recognised al the amount that the charity anticipates il will pay lo selue the debt or the amount it has received as advanced payments for the g)od8 or services It must provlde. 1.10 Flnaneial instruments The Charlty only enters into basic financial Instruments that result in the recognition of financial assets and Ilabililies like trade and other accounts receivable and payable. 1.11 Crftlcal accountlng e8tlmates and areas of ludggment The praparallon of the financial statements requlres the Trustees to make ludgements. esllmales and assumptions that affect the amounts reported for assets and118bilities as at the Balance Sheet dale and the amounts reported for revenues and expenses during the year. However the nature of eslimalion means that actual outcome8 could dlffer from those e51imales. In preparlng these accounts the value of the investment properly has bean determined by the Trustees based on infomiation available. Investment Income Endowment Unrestrlcied funds funds 2021 2021 Total funds 2021 Tot81 funds 2020 Interest recelved Letting income D[dendS 67 18,280 23,053 342 18,493 19,141 18,280 19,328 3,725 Total 2020 14
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Govarnanc& costs Endowment Unrestrfcted funds funds 2021 2021 Total fundg 2021 To181 funds 2020 Accountancy charges Indemnity insurance Clerk's fees 1,680 778 1,680 778 1,560 576 987 In 2020, all of the governance costs were charged to unrestricted funds. Direct costs Total 2021 Total 2020 Newbury Alm8house Trust Donation lo St Bartholomew's School Sundry expense3 491 5,556 491 12, 798 The donation to St BartholomeW$ SGhool comprised of £4,356 for prizes and £1,200 for improvements to .school securfly. Net Incomel{expendlture} Thls Is stated after ¢harging'. 2021 2020 Independent examlner's remuneration During the ygar, no Trustees received any remunerallon12020 - £NIL}. During the year, no Trustees received any b8nefils Sn kind {2020 - £NIL). During the year, no Trustees ro¢eivod any reimbursement of expenses {2020- £NILI. 15
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Tanglble flxed assets Freehold Land Cost At 1 April 2020 and 31 March 2021 Dgpreclatlon Al 1 Aprll 2020 and 31 March 2021 Net book value At 31 March 2021 At 31 M8rch 2020 Land held at 1 April 1996 has been included at the Trustees, estimate of the value as at that date. Land at York House acquired since that date, and now included wilhln the Main School Slte, is included at cost. The interest in the new school building, sports facilities. IT and other equipment and fittings was Iransferrod lo St Bartholomews School during the financial year ended 31 MarGh 2012 (see note 17). Property retalned by the Foundatlon Non depro¢latlng assets: Playing fields al Enborne Road Maln School Sile Land north of Flfth Road Parsons Green Allotments 49,145 110,059 25,000 10,000 Total 194.204 School Land previously known as 'Land at Frfth Road,, 'Land al York House, and Land at Luker sile, has been amalgamalad under th8 d8gcriplion Df'MAiri.8rhnnl .qitft'. Land prevlously deS¢bed as'womieslall sile, has been naMed 'Land north of Frfth Road,.
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Propgrty donatgd orloased to St Bartholomèw's Sohool In Septembor 201118ee noto 17} Dgpreolatlng assets: New school bulldlng IT equipment Furnlture, fixtures and equipment Mulli use games area and synthetic turf pltch Sports equipment 35,101,273 931,680 1,191,695 1,810,551 22,304 Total 39 057 503 Investment property Freehold Investment properly Valuatlon At 1 Aprll 2020 Revaluatlon 81318t March 2021. Increase by £100,000 The last fomial valuation was made by Carter Jonas on g February 2015, on an open market value for existing use basis. The Trustees have undertaken an online exercise to determine an approprlate valuation for the property as al 31 March 2021, this resulted in an increase In valuation of £100,000. Flxed asset Investments Market value Llsted $acurltles At 1 April 2020 Additions Revaluallons 6tr2,618 3,72S At 31 MarGh 2021 Investment8 at market value comprlse: 2021 2020 BLK Charitles UK Eqully Fund BLK Charltles UK BorKI Fund 744,766 67,442 593,591 69,027 Total All th8 fixed asset Inveslmenls a held In the UK. Debtors 17
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Accrued income 10. CTgditors: Amounts falllng duo wlthln one year 2021 2020 A¢cruals 11. Summary of funds Summary of fund8- current year Balance at 31 March 2021 Balanco at 1 Aprll 2020 Transfers Inlout Galn81 {L¢)sso81 In¢ome Expendlture Deslgnated funds General funds 2,987 149,458 2,987 176,478 37,675 111.707) 1,052 152,445 37,675 {11,707) 1,052 179,465 Endowmenlfunds 1,481,727 3,725 244,813 1,730,265 Summary of funds- prlor year Balance at 31 March 2020 Balan at l April 2019 Transfers in/out Gain (Losses) Incon7e Expendtture Deslgnated funds General funds 2,98T 135,377 2,987 149,458 34,295 (19,445) (769) 138,364 34,295 119,445} {789) 152,445 Endowment funds 1,582,420 3,681 (104,374) 1,481,727 43 18
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PJtARCH 2021 12. Transfor between funds Improvements in 2014 and 201510 the investment properly at 4 Buckingham Road which forms parl of the endowmonl funds were financed from unrestricted funds. The Trustees have agreed that if the investment property 18 sold the cost of these works. which lotalled £108,445 over the two yearg. will bo repald to the unrestricted fund. 13. Analy¥l$ of net a¥8¢ts bEtWn funds Analyyl8 of net assgts between fund8- current year Endowment Unrostricted funds funds 2021 2021 Total funds 2021 Tanglble fixed a$sel$ Flxed asset investments - Stock Market Investment properly Ctjrrenl assets Creditors due within one year 174,145 806.120 750,000 20,059 6,088 194,204 812,208 750,000 155,072 11,755) 155.072 (1,755) Analys18 of net assets between fund8 . prlor year Endowment UnrestriGted fvnds fvnds 2020 2020 Tolal funds 202Q Tanglble fixed assets Fixed asset Investments.. Stock Mark8t Investment property Current assets Creditors due within one year 174, 145 657,582 650,000 20,059 5.036 194,204 662,618 659,000 129,049 (1,699) 12g,049 (7,699) 19
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 14. Rgoonclllatlon of net movement In funds to net cash flow from operating actlvlti88 2021 2020 Nel Incomel{expendllure) for the year la8 per Statement of Flnanclal Acllvillesl 275,558 (86,6t2) Adjustmènt for: (Galnslllosses on investments Dividends, Interest and rents fmm Investments De¢reasellincreaso} in debtors In¢reasel{decrea8el In credltors {245,865) 141.400) 669 105,143 (37,976) (1,450) Net cash used In operatlng a¢tlvltlos 32 15. Analy818 of chang88 In Cash and cash equlvalents l April 2020 Cash flows 31 March 2021 C8sh at bank arKI in hand 693 292 Total 16. Related party transaGtion8 Durlng the year the Truste6s made a donation of £5,55612020'. £12,798) from unrestrIcted funds lo St BartholomeWs School. 17. Long term lease On 2 September 2011 the Trustees entered Into a 125 year 16ase at a peppercorn rent th St Bartholomew's SGhool In respect of land and bulldings owned by the Foundatlon and used by the SGhool. By granllng the leas8 the Trustees have transferred the SkS and rewards of ownership of the buildings and other depreciating assets to the School. These bulldings 2nd other depreciating as$els as listed In note O were Ilierefore reiiiov¥d fruiii Iliv Bala11 Sli¥¢l. However. the r15k8 and rewards of owner$nip or the land remain wllh the Found8tlon and therefore the land remains on the Balance Sheet of the Fijundatlon. 18. Controlllng party The charity is controlled by Ils Board of Trustees. 20