Charlty number: 309085 ST BARTHOLOMEW'S SCHOOL FOUNDATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
ST BARTHOLOMEWS SCHOOL FOUNDATION CONTENTS Page Reference and Admlnlstratlve Detalls of tho Charity, its Trustees and Advlsers Tru8teo5' Report Independent Examlnerfs Report Statement of Financial Activiti98 10 Balance Shoot 11 Statement of Cash Flows 12 Note8 to the Flnanclal Statements 13-20
ST BARTHOLOMEW'S SCHOOL FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022 Tm8t¢es Appolnted by Newbury Town Council.. Councillor N Fool Councillor S Slack Appointed by Wesl Berk8hlr8 Council.. Counclllor L Dlllon Councillor L Doherty Councillor B Drummond Appointed by Newbury Almshouse Trust Mr M Hart, Vice Chairman Community Truslees Mrs J Clifford, Chair Mr T Emberlin Mr R Mead Mr L Pummell Mrs P Ray Mr M Smith Officers Mr M Smith, Treasurer Mrs H Sulherland, Clerk Charlty reglstered number 309085 Prlnclpal offlco Sl 8artholomew's School Andover Road Newbury Berkshire 14 IJJ Indepondent Examinor James Cowper Kreslon Chartered Accountants Greenham Business Park 2 Communications Road Newbury RG19 6AB
ST BARTHOLOMEWS SCHOOL FOUNDATION Bankers Lloyds Bank plc 5 Bridge Streol Newbury Borkshire RG14 5BQ Solicitors Coffin Mew Rivergale House London Road Newbury Berkshire RG142PZ Investment Advlsers Block Rock Investment Managers 33 King Wllllam Street London EC4R 9AS
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report together with the financial slalements for the year ended 31 March 2022. The Trusleos confimi that the Annual Report and financlal slalemenls of the charity comply with the current slalutory requirements, the requirements of the charills governing document and the provisions of the Statement of Recommended Practice ISORP) applicable lo charities, preparing their accounts in accordance wSlh the financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT Governing documènt The St Barlholomew's School Foundation was formed as a charitable foundation {Charity No. 3085) under a trust deed dated 10 February 1910, as modified by subsequent orders. This scheme was replaced by a new scheme dalod 18 October 2007. There have been no changes In the oblaclives slnce the1881 annual report. b. Governlng Body and organ18atlonal management The Charity Is manag8d by a Board of Trustees whose details are listed under the reference and adminlslratlon details seGtion. The Trustaes meet al least three times each year and recelve agondas, minutes and papers prepared by the Clerk. Decisions are taken by majority voting where necessary, usually by show of hands. Meetings are chaired by the elected Chair or Vi¢e-Chairman and minutes are taken by the Clerk. In between Trustees, meetings urggnl decisions Gan be taken by the Chair, Mrs J Clifford, Vice-chalr, Mr M Hart and Treasurer, Mr Martin Smith. The day lo day administratlon of the Charity is delegated to the Clerk lo the Trustees, Mrs H Sulhertand. In 2014 il was agreed that the number of Trustees would reduce from seventeen lo bmelve when Current appointments expifft. Under the new structure two Tru51ees are appointed by Newbury Town Council, three by Wesl Berkshire Council and one by the NeNvburyAlmshouse Trust. These are known as Represenlglive Trustees. The remaining six trustees are designated Community Trustees. c. Recruitment and training of trustges Represenlalive Trustees are appointed after their respecllve organisation'g Intern81 nomination processes are complete. Community Trustees are recrulled in a variety of ways, including informal discussions with the School's Governors and an open recruitment process when required. All CommunilyTruslees are chosen for Ihelr personal allribules and experience, neGessary lo maintain an appropriat8 balance of skills and professlonalism on the Trustee Board. Truslees are IiiduGled by the Clialr, vI-¢17a1r and Ihe Cltsrk Ivlluvvliiy i¥uuiliii¥iil aiid ¢iibuur<iged to maintain Ihelr knoedge of general charity law and regulatory matters vla the Charity Commission website and educational inilialives.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES. REPORT Icontlnuèd) FOR THE YEAR ENDED 31 MARCH 2022 d. Rlsk management The Trustees are reswnslble for the idenllficallon of risks inherent within the Charity, their polenllal Impact on ils operations and the implementation and maintenance of a system of control in order to mitigate those rlsks. The Trustees perlodlcally review rlsk and the key controls maintained by the Charity which include.. formal agenda8 for all meetings well e81ablished organisational structure and reporting lines clear aulhorisalion and delegated responsibilities regular review and reporting of financial p0811ion Uge of external professlona18 for advlce where the ne$Sary expertise 15 not available from thIn the body of Trustees. Legal, flnan¢ial, ¢ommerclal and investment advisers have been used during the year. The Trustees are satisfied that any major risks have been Identifiod and mitigated where nece8s8ry through their risk management processes. OBJECTIVES AND ACTIVITIES a. Objgctives and activities for public bonefrt The principal objective of the Foundation is lo provlde educ4liong1 benefits lo the students of Sl Bartholornew's School. The Trustees are aware of the Charity Commls$ion's general guidance on public benefit which has beèn considered when reviewing policy and objocIIv85. The Foundation is responsible for administering permanent endowm8nl funds and assets which are held in a portfolio of cash, managed inveslmenls, land and propety. The Foundation owns the large majority of the land and buildings of the School, including playing fields, all of which have been leased to the School. The buildings have been removed from the Balance Sheet of the Foundation 2s disclosed In note 17 to tho accounts. The Foundation owns some allotment land called Parsons Green In the town, which is let lo the Newbury Town Councll. There Is also a propety al No. 4 Bucklngham Road, Newbury. The Foundation Is the custodian of many prlze funds, some restricted In purpose, but all intended to reward good work, effort or aGhlevemenl on the part of pupils al the School. These prize funds have been consolidated under a new charity scheme dated 18 Oclob6r 2007 known as the Sl Barlholomew's School Foundallon Consolidated Prlze Fund. The Foundallon Is supported by one parl-tlme clert<. ACHIEVEMENTS AND PERFORMANCE a. Achlovemonts and perfomiance The Truslees lake a keen Interest in the development of tho School.11 is their objeclivo lo balance rlsk and reward and oplimise the total return on tho Foundation's investments in order to provid8 funds for Ihoge aGlivities whlch cannot bo mel from other sources. The Trusleos are mindful of Ihelr obllgallon lo future gènerations of students in their execution of the management of the charitys pemianent endowment and other assets.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES, REPORT {continuod) FOR THE YEAR ENDED 31 MARCH 2022 b. Invfistmgnt policy The Trustees have appolnled Black Rock Investment Managers to manage the Foundation's Investments. Th8 Fund Managers issuo quarterly statements and detailed valuations and portfolio reports @ach year. The Trustees review the porformance of the Foundatlon's investments on a pgriodic basis. In general terms, the Foundallon seoks a mlxture of capltal growth and income generation from the p6rformance of its inveslmenls. FINANCIAL REVIEW Financial revigw The accounts for the year ended 31 March 2022 show income of £42,92012021.' £41,400) as detailed on page 10 of the accounts. Investment income continued to be generated from monies held on deposii, from dividends and from letting investment properly. Dividend Income was higher than in the previous year, the prior year being affected by the transillon to new Investment funds. The Foundation's investment propety at 4 Buckingham Road continues to produce useful rental income and long term Gapllal growth for the oharlty. The estimated market value of the property as at 31 March 2022 wa5 £750,00012021.' £750,000). Land owned by the Foundation and used as allolmenls {Par80ns Green)18 r8nted to U)e Newbury Town Councll al £850 per annum. Charitable expendllure predomlnanlly comprised donations lo support the awarding of school prfzes. The Elldowmenl funds stood al £1,787,550 al 31 March 2022 compared wllh £1,730.265 at 31 March 2021. The Permanent EndowThonl of the Foundation includes funds held In Funds managed by Black Rock Investment Managers. The value of the investments increased by £52,114 during the year Gompared with an Increase of £245,865 in the previous year. b. Signrficant developments during the year There were no gignfficant developments durlng the year. e. Reserves pollcy The Trustees do not have a formal policyfor delerminlng the level of cash reseNes. However Ih8ir practice has been lo maintain sufficient liquid assets in an interest bearing deposit attcounl lo enable the Foundation to meet unexpgGte(J exp¢ii(JitUT¥, bucli as Ulllllbured105be5 or urgent repalrs to the School bulldlngs thal could not be met by the School or the Department for Education. Currently these cagh reserves sland at £176,288 (2021.. £154,292}. The Prlze Funds which were consolidated under a new soheme dated 18 October 2007 continue to ac¢umulale income. Each year the Trustees pay for a range of prizes awarded lo students al the School and meet the costs of school oommunily events from general income. Specific unrestrlcted fund Income le.g. the Repair and Improvement Fund) is b6lng used for speclal project8 undertaken by the School. The level of reserves is consldered to be approprlate and al a prudent level.
ST BARTHOLOMEW'S SCHOOL FOUNDATION TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2022 PLANS FOR THE FUTURE a, Future developments The FoundalSon has been part of th8 St Bartholom*s community for more than a century, In which time the school has gone from strength lo strength. The Foundallon Trustees applaud the way Sl Barlholomew's School conllnued lo adapt to the challenges of the pandemic.. they look forward to worklng with the school's leadership team 2nd governing body to identify the best ways the Foundation can benefit thls and future generations of Sl Bartholomew's students. Trustoes, responslbllltles statement The Trustees are responsible for preparing the Trustees, Report and tho financial stal8ments in accordance with applicable law and Unlted Kingdom AGGounling Standards (United Kingdom Generally AGcepled Accounllng Praclice)- The law applicable lo Gharilies in England & Wales requires the Trustees to prepare financial statements for each financial year whlch give a true and fair view of the stale of affairs of the charity and of the incoming resourGes and appllcalion of resources of the charity for that period. In preparfng these financial stalemenls. the Trustees are required lo.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP. make judgments and accounting esllmales that are reasonable and prudent., pr8pare the financlal stalemenls on the going concern basis unle88 11 Is Inappropriate to presume that the charity will conlinue In operatlon. The Trustees are responsible for keeping proper accounting records Ih8t are sufficient lo show and explaln the charivs transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that tho financial 81alements comply with the Charities Aol 2011, the Charity {Accounls and Reports) Regulations 2008 and the provlslons of the trust deed. They are also responsible for safeguarding the assets of the charlty and hence for laklng reasonable steps for the prevenllon and delecllon of fraud and other irregularllles. This report was approved by the Tru51ees o1rSepI@mber. 2022 and $lgned on Iheir behalf by.. J Cllfford, Chalr •JAr M Smlth, Treasurer
ST BARTHOLOMEW'S SCHOOL FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022 Independènt Examin&¢s Rèport to the Trust998 of St Bartholomew's School Foundation (the'charlty.) I report lo the charity Trusleos on my examination of the accounts of the Gharily for the year ended 31 March 2022. This report is made solely lo the charills Trustees, as a body, in accordance with Parl 4 of the Charllles (Awounls and Reports) Regul81ions 2008. My work hes been undertaken 80 that I might stale lo the ¢harily'5 Trustees those matters l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responslbllity lo anyone other than the charlly and the charills Trustees a5 a body, for my work or for this report. Responsibilrties and Basis of Report As the Trusloes of the charity you are responsible for the prepar21ion of the accounts in accordance with the requirements of the Charities Act 20111'lhe 2011 Acl'l. I report in respect of my examlnallon of the charltls awounts carried out under section 145 of the 2011 Act and in carrying out my examlnallon I have followed all the applicable Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. Independant Examlner's Statement I have complelod my gxamination. I can confirm that no mallers have come to my allenlion in connection wlth the examination giving me cause lo believe that in any malerlal respect: accounting words were not kept in respeGI of th8 charity as required by section 130 of the 2011 Act,. or Ihe acry)unts do not accord th those records,. or the accounts do not comply with the applicable requirements concernlng the form and content of ac¢ounls sel out in the Charities {Accounts and Reports) Regulallons 2008 other than any requirement that the accounts give a'lrue and fair, viewwhich is not a matter considered as part of an independent examination. I have no con¢erns and have Come 8cro8s no other mallers in connection with the examlnation lo which attention 8hould be drawn in this report In order lo enable a proper understanding of the account8 to be reached. Slgned.. Dated.. 1211012022 Fiona Hawklns Msc FCA James Cowper Kroslon Grgenham Business Park 2 Communications Road Newbury RG196AB
ST BARTHOLOMEWS SCHOOL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Endowment Unrestrlcted funds funds 2022 2022 Total funds 2022 Total funds 2021 Note InGome and endowmonts from: Investments 400 Total inGomo and ondowments Expgndituro on: Raising funds Charitable aclivilies.. Direct costs Governance 3,628 3,628 3,199 10,332 10,332 6,050 Total Expendltuie Net Income I laxpendlturel before Investment galnsl(lossesl Nel gainslllossesl on inveslmènls Net income I lexponditurel bBforo othèr recognlsed galns and losses 5,536 20,698 26.234 29,693 57,285 21,063 78,348 275,558 Net movemont In funds 57,285 21,063 78,348 275,558 Reconclllatlon of funds: Total funds brought fonmard Total funds Garrled forward The notes on pages 13- 20 form part of these flnanclal statements. 10
ST BARTHOLOMEW'S SCHOOL FOUNDATION BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Flxed assets Tanglble assets 194.204 194,204 Investment property 750,000 750,(0 Total tangible assets 944,204 944,204 Investments 869 858 812 208 1,814,062 1.756,412 Current assots Cash al bank and in hand Debtors 176,288 t54,292 781 Creditors: amounts falling duo within one year 10 Net curront asset8 174 016 t53 318 Net assèts Char]ty Funds Endowment funds 11 1,787.550 1,730,265 Unreslricled fund8 11 200 528 179465 Total fund8 The financial stalomenls were approved by the Trustees onw September, 2022 and signed on thelr behalff, by.. J Cllfford, Chalr Mr M Smlth, Tr•a$uror The notes on pages 13- 20 form part of these financial stalemenls. 11
ST BARTHOLOMEVV'S SCHOOL FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notè Cash flow8 from operating activltles Net cash u8ed in operating activities 14 Cash flows from Inve8tlng actlvltlos.. Dividends, interest and rents from inveslmgrils Ngt ¢a$h provided by inv93ting odivities Changa in cash and cash aqulvalont$ in th# yaar 21,996 26,693 Cash and cash equivalents brought forward 154 292 127599 Cash and cash equlvalents carrled forward .iQ2 The notes on pages 13- 20 form part of these flnancial st?lements.
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accountlng Polleles 1.1 Basls of preparation of financlal statements The financial statements have been prepared under Ihg hislorical cost convention with items recognised at cost or transaction value unless otherwise slated in the relevant note5 to these accounts. The financial statements have been prepared in accordance wllh the Stalom8nl of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Repoiling Standard applicable in the UK and Republic Df Ireland IFRS 102, effective l January 20191 and Financial Reporting Standard applicable in the Unlled Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. St BartholOmeS School Foundation constitutes 8 public benefit entity as defined by FRS 102. 1.2 Fund accountlng General funds are unreslricled funds which a available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and whlch have not been designated for other purposes. Investment Sncome, galns and losses are allocated to the approprlate fun(i. 1.3 Income All inGome is Tecogni5ed once the charity has enlltlement lo tho income, il is probable that the income will be received and the amount of illcome receivable can be measured rellably. 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 pald or payable by the bank. 1.4 Expendlture Expenditure is accounted for on an accruals ba818 and has been included under expenses calegorles alloc21ed lo aellvilles. Where costs cannot be directly allrlbuled lo particular activities they have been allocated on a basis consislenl with the use of the resources. Charitable activities and Governance cost8 are costs incurred on the charity's operations, In¢luding costs relating to the governanGe of the charity apportioned lo charllable activllies. Al 8xpendilure 18 inclusive of irreooverable VAT. 1.5 Tanglble fixod assots and depreclatlon The land held for use by the charity as al 1 April 1996 has been shown on the Balance Sheet at its valuation on 1 April 1996. The value of this land18 £174,145. In accordance with 8eclion 17 of FRS 102 this valuation has not been uated. Additions to land subsequent to Ihls have also been inGludod al cost. The land Is not deprec121ed. 13
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 1.6 Invostment property Investment properties are inllially recognlsed at their transaction cost and subsequently rneasuied at fair value. Gains are recognised in the Statement of Financial Aclivilies. Investment gains and losses, whether realised or unrealised, are combined and shown in the headlng 'Nel gainslllosses} on investments, in the Statement of Financl81 Actlvilies. 1.7 Investment8 Flxed asset investments are staled al their open market value al the Balance Sheet date. Investment gains and losses, whether realised or unreallsed, are combined and shown in the hoading 'Net gainsl(lossesl on inveslmenls. in the Slalemenl of Financial Aclivilies. 1.8 Ca8h at Bank and In hand Cash al bank and In hand Indudes Gash and short term highly Ilquid investments with a short malurlly of three month8 or les8 from the date of aGquisltion or opening of the deposlt or similar account. 1,9 Llabllltlo8 Liabilities are recognised when there Is an obligatlon al the Balance Sheet dale a8 a result of a past event, il is probable that a transfer of economlc ben8fll will be required in selllement, and the amount of the selllement can be estsmaled reliably. Liabllilles ar8 r8cognised al the amount that the charity anlicipal@s il will pay lo sellle the debt or the amount it has received as advanced payments for th8 goods or services il musl provide. 1.10 Flnanclal instrumènts The Charity only enters into basic financial instruments that re$ull in the recognition of flnan¢Sal assgts and liabilities like trade and other accounts receivable and payable. 1.11 Crltlcal ac¢ounting èstimates and areas of Judgement Tho preparation of the financSal slalemenls requires the Trustees lo makejudgements, 6slimate8 and assumptions that affect the amounts reported for 2ssels and liabilities as al the Balance Sheet dale and the amounts reported for revenues and expenses during the year. However the nature of e811matlon means that actual oulGomes could differfrom those eslimales. In preparing these accounts th8 value of the investment property has been determined by the Trustees based on Information available. Invo¥tmont InGomo Endowment Unrestrlcted funds funds 2022 2022 Total funds 2022 Total funds 2021 Interest received Lelling income Dividends 24 17.499 19,861 24 17,499 25,397 67 18,280 23,053 5,530 Total 2021 14
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Govornance co8t8 Endowmgnt Unre8trlcted funds funds 2022 2022 Total funds 2022 Total fvnds 2021 Accountancy charg88 Indemnity insurance Clerk's fees 1,668 525 533 1,668 525 533 1,680 778 In 2021, all of the governanck costs were charged lo unre8trlcled ftjnds. Dlrect costs Total 2022 Total 2Q21 Newbury Almshouse Tru51 Donation lo Sl Bartholomews School Sundry expenses 491 9,837 491 5,556 The donation to Sl Barlholomews School comprised of £4.637 for prizes and £5,200 for celebration days. Net Incomel{èxpendlture) This is staled after charging: 2022 2021 Independent examiner's remunerallon During the year, no Trustees r8celved any remuneration {2021- £NILI. Durlng the year, no Trustees receiv8d any benefits In klnd (2021 £NIL}. Durlng the year, no Tru8tees r8celved any relmbursement of expenses {2021- £NIL)- 15
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Tanglble flxed assets Freehold Land Cost Al 1 April 2021 and 31 March 2022 Dpproclatlon At 1 Aprll 2021 and 31 March 2022 Net book value Al 31 March 2022 At31 March 2021 Land held al 1 April 1996 has been induded al the Trustees. estimate of the value as al that dale. Land 81 York House acquired since that dale, and now included within the Main School Slle, is included at cost. The interest in the new school building, sports facilities, IT and other equlpment and flllings was transferred to St Barlholomevls School durlng the financial year ended 31 March 2012 Isee note 171. Property retalned by the Fountlatlon Non depreclating assets: Plawng flelds at Enborne Road Main School Sile Land north of Fth Road Parsons Green Allolm8nls 49,145 110,059 25,000 10,000 Total 194,204 School Land previously known as 'Land al Fifth Road,, 'Land al York House, and Land al Luker sile, has been amalgamated under the description of'main School Site,. Land prevlously descrlbed 8s Wormestall slte, has been renamed 'Land north of Frflh Road,. 16
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Property donated orloasèd to St Bartholomew'8 School In September 2011 lsee noto 171 Depieclatlng a88ets.' Now school building IT equipment Furnilura, fixtures and aquipment Multi use games area and synthet1¢ turf pitch Swrls equipment 35,101,273 931,680 1,191,695 1,810,551 22,304 Total 39 057,503 Investmènt property Freehold investment property Valuation Al 1 April 2021 Revaluallon al 31 $1 March 2022. intxease by £0 The last formal valuatlon was made by Henwlck Properties on 2 February 2022, on an open market value for existing use basis. Fixed asset Investments Market value Llstod $¢curltles At 1 April 2021 Additions Revaluations 812.208 5.536 At 31 March 2022 Inv95tment8 at wnarkgt value wmprlse: 2022 2021 BLK Charities UK Equity Fund BLK Charities UK Bond Fund 807,651 62,207 744,76S 67,442 Total All the fixed asset Inveslmenls are held In th8 UK. 17
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Debtors 2022 2021 Accrued income 10. Cradltors: Amounts falllng due wlthln on• year 2022 2021 Accruals 11. Summary of funds Summary of funds . current yaar Balan¢e at 31 March 2022 Balancè at 1 Aprll 2021 Transfars Inlout Galnsl {Lo8ses) Income Expendlture Designated funds General funds 2,987 176,478 2,987 197,541 37.384 {16,686) 365 179,465 37,384 (16,686} 365 200,528 Endowment funds 1.730,265 5,536 51,749 1,787,550 Summary of funds - prlor year Balance at 31 March 2021 Balance at t Awll 2020 Transfers Inloul G&ins/ {LossesJ Incomg Expenditure Deslgnaled funds General funds 2,987 t49,458 2.987 176,478 37,675 (t 1, 707) 1,052 152,445 37,675 (11,707) 1,052 179,465 Endowmentfunds 1,481, 727 3,725 244,813 1,730,265 The Trustees have designated £2,987 for the Improvement and repair of school bulldlngs. 18
ST BARTHOLOMEW'S SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 12. Transfer botween funds Improvements In 2014 and 201510 the Investment property at 4 Buckingham Road whlch forms parl of the endowment funds were financed from unreslricled funds. The Trustees have agreed that if the investment property Is sold the cost of these works, which lolalled £108,4H5 over the b1 years, will be repaid to the unr6stricled fund. 13. Anal1$ of net a88ets botweon funds Analysls of net assets bgtwoen funds - ourrent year Endowrnent Unrestrlcted funds funds 2022 2022 Total funds 2022 Tangible flxed assets Fixed asset investments . Stock Market Investment property Current assets Creditors due within one year 174,145 863,405 750,000 20,059 6,453 194,204 869,858 750,000 176,288 {2,2721 176,288 {2,272) Analysls of net assets between funds - prfor year Endowment Unrestricted funds funds 2021 2921 Total funds 2021 Tangible fixed a888t8 Flxed asset Inveslmenl8.' Stock Market Investment properly Current assets Creditors due within one year 174,145 806, 120 75Q,000 20,059 6.088 194,204 812,208 750,000 155.072 (1,755) 155,072 (1,755) 19
ST BARTHOLOMEWS SCHOOL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 14. Recon¢lllatlon of net movement In funds to net cash flow from operatlng actlvlties 2022 2021 Net incomellexpenditurel for the year las per Slalemenl of Financial Activltiesl 78,348 275,558 Adlustment for: IGalns)Ilosses on Investments Dlvldends, interest and rent$ from investment5 Decreasel(Increasel in debtors Increaselldecrease) in credllors {52,1141 {42.9201 781 517 (245,865) (41,400) 669 Not ¢a$h used In operatlng a¢tivitie8 82 15. Analysis of changes in cash and cash equlvalents t April 2021 Gash flows 31 March 2022 Cash al bank and In hand 176 288 Tolal 16. Related party transactlons During the year the Trustees made a donation of £9,837 (2021.. £5,556) from unrestricted funds lo Sl Bartholomews School. 17. Long tèrnilgase On 2 September 2011 the Trustees entered into a 125 year lease al a peppercorn rent with Sl Bartholomews School in respect of land and buildlngs owned by the Foundation and used by the School. By granting the lease the Trustees have transferred the risks and rewards of ownershlp of the buildings and other depreclallng assets lo the School. These buildings and other depCIating assets as listed in notg 6 wero th8roforo romovod from tha Balanca Shoot. Howavor, tha rlske and reward- of owncr- the land remaln wllh Ihe Foundatlon and therefore the land remains on the Balance Sheet of the Foundation. 18. Controlllng party The charlty Is conlmlled by Its Board of Trusloes. 20