| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 6 |
| Report ofthe Independent Auditors |
7 | to | 9 |
| Statement ofFinancial Activities | 10 | ||
| Balance Sheet | |||
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 20 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | E | F | E | ||||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Investment income |
2 | 309,458 | 309,458 | 302,634 | |||
| Other income | 852 | 852 | 1,182 | ||||
| Total | 310,310 | 310,310 | 303,816 | ||||
| EXPENDITURE ON | |||||||
| Investment management costs |
3 | 127,450 | 127,450 | 152,730 | |||
| Charitable activities |
|||||||
| Charitable activities |
445,541 | 445,541 | 810,288 | ||||
| Total | 572,991 | 572,991 | 963,018 | ||||
| Net gains/(losses) | on investments | ~462,566) | ~462,566) | 4,183,547 | |||
| NET INCOME/(EXPENDITURE) Transfers between funds |
13 | (262,681) 818,862 |
(462,566) ~818,862) |
(725,247) | 3,524,345 | ||
| Net movement in |
funds | 556,181 | (1,281,428) | (725,247) | 3,524,345 | ||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | (553,404) | 18,455,635 | 17,902,231 | 14,377,886 | ||
| TOTAL FUNDS CARRIED FORWARD | 2,777 | 17,174,207 | 17,176,984 | 17,902,231 |
| BALANCE SHEET 31 DECEMBER 2022 |
|||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Endowment | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | F | E | f. | ||
| FIXEDASSETS | |||||
| Investments | |||||
| Investments | 9 | 11,770,433 | 11,770,433 | 12,866,898 | |
| Investment property |
10 | 4,166,000 | 4,166,000 | 4,166,000 | |
| 15,936,433 | 15,936,433 | 17,032,898 | |||
| CURRENT ASSETS | |||||
| Debtors | 11 | 18,723 | 1,152,028 | 1,170,751 | 13,584 |
| Cash at bank | 1,577 | 92,546 | 94,123 | 1,482,104 | |
| 20,300 | 1,244,574 | 1,264,874 | 1,495,688 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
12 | (17,523) | (6,800) | (24,323) | (626,355) |
| NET CURRENT ASSETS | 2,777 | 1,237,774 | 1,240,551 | 869,333 | |
| TOTAL ASSETS LESSCURRENT | |||||
| LIABILITIES | 2,777 | 17,174,207 | 17,176,984 | 17,902,231 | |
| NET ASSETS | 2,777 | 17,174,207 | 17,176,984 | 17,902,231 | |
| FUNDS | 13 | ||||
| Unrestricted funds |
2,777 | (553,404) | |||
| Endowment funds |
17,174,207 | 18,455,635 | |||
| TOTAL FUNDS | 17,176,984 | 17,902,231 |
| FOR THE YEAR | ENDED 3 | 1 DECEMBER 2022 | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Notes | f | f | ||
| Cash flows from operating activities Cash generated from operations |
~3,646,499) | ~I74,435) | ||
| Net cash used in |
operating | activities | ~3,646,499) | ~I74,435) |
| Cash flows from | investing | activities | ||
| Purchase offixed |
asset investments | (1,635,217) | (4,248,188) | |
| Sale offixed asset investments | 1,922,183 | 4,986,261 | ||
| Sale ofinvestment | property | 1,970,890 | 1,470,870 | |
| Reclassification ofcash equivalents |
(1,263,561) | |||
| Interest received | 662 | 190 | ||
| Net cash provided | by investing activities |
2,258,518 | 945,572 | |
| Change in cash |
and cash | equivalents | ||
| in the reporting | period | (1,387,981) | 771,137 | |
| Cash and cash equivalents | at the | |||
| beginning ofthe |
reporting | period | 1,482,104 | 710,967 |
| Cash and cash equivalents | at the end | |||
| ofthe reporting | period | 94,123 | 1,482,104 |
| RECONCILIATION ACTIVITIES |
OF | NET (EXPENDITURE | )/INCOME TO NET CA |
SH FLOW FROM | OPERATING |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | E | ||||
| Net (expenditure)/income | for the reporting | period (as per the | |||
| Statement of Financial | Activities) | (725,247) | 3,524,345 | ||
| Adjustments for: |
|||||
| Gain on investments | (1,161,392) | (4,183,547) | |||
| Interest received | (662) | (190) | |||
| Increase in debtors (Decrease)/increase |
in creditors | (1,157,167) ~602,031) |
(129) 485,086 |
||
| Net cash used in operations | ~3,646,499) | ~174,436) |
| ANALYSIS OF CHANGES IN NET |
FUNDS | ||
|---|---|---|---|
| At 1/1/22 | Cash flow | At 31/12/22 | |
| F | E | F | |
| Net cash | |||
| Cash at bank | 1,482,104 | ~1,387,981) | 94,123 |
| 1,482,104 | ~1,387,981) | 94,123 | |
| Total | 1,482,104 | ~1,387,981) | 94,123 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Rents received | 89,046 | 98,394 | |||||
| Investment income |
219,750 | 204,050 | |||||
| Interest received | 662 | 190 | |||||
| 309,458 | 302,634 | ||||||
| INVESTMENT MANAGEMENT | COSTS | ||||||
| INVESTMENT MANAGEMENT | COSTS | ||||||
| 2022 | 2021 | ||||||
| f | |||||||
| Investment management |
fees | 38,714 | 37,042 | ||||
| Professional fees | 18,345 | 13,047 | |||||
| Property repairs |
70,391 | 102,641 | |||||
| 127,450 | 152,730 | ||||||
| CHARITABLE ACTIVITIES COSTS | |||||||
| Grant | |||||||
| funding | of | ||||||
| activities | Support | ||||||
| (see note | costs (see | ||||||
| 5) | note 6) | Totals | |||||
| E | |||||||
| Charitable activities |
428,461 | 17,080 | 445,541 | ||||
| GRANTS PAYABLE | |||||||
| 2022 | 2021 | ||||||
| Charitable activities |
428,461 | 793,318 | |||||
| The total grants | paid to | institutions | during the year was as follows: | ||||
| 2022 | 2021 | ||||||
| E | f | ||||||
| Burford Primary | School | 40,920 | 11,929 | ||||
| Burford School | 376,491 | 775,039 | |||||
| Burford Pre-school | 7,800 | ||||||
| 425,211 | 786,968 |
| There were no trustees' 31 December 2021. |
expenses paid for the year ended 31 December |
expenses paid for the year ended 31 December |
expenses paid for the year ended 31 December |
2022 nor for th | e year ended |
|---|---|---|---|---|---|
| COMPARATIVES FOR | THE STATEMENT OF FINANCIAL ACTIVITIES | ||||
| Unrestricted | Endowment | Total | |||
| fund | fund | funds | |||
| f | f | f | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Investment income |
302,634 | 302,634 | |||
| Other income | 1,182 | 1,182 | |||
| Total | 303,816 | 303,816 | |||
| EXPENDITURE ON | |||||
| Investment management |
costs | 152,730 | 152,730 | ||
| Charitable activities |
|||||
| Charitable activities |
810,288 | 810,288 | |||
| Total | 963,018 | 963,018 | |||
| Net gains on investments | 4,183,547 | 4,183,547 | |||
| NET INCOME/(EXPENDITURE) | (659,202) | 4,183,547 | 3,524,345 | ||
| RECONCILIATION OF |
FUNDS | ||||
| Total funds brought forward |
105,798 | 14,272,088 | 14,377,886 | ||
| TOTAL FUNDS CARRIED FORWARD | ~553,404) | 16,455,635 | 17,902,231 |
| Listed | ||
|---|---|---|
| investments | ||
| F | ||
| MARKET VALUE | ||
| At 1 January 2022 | 12,866,898 | |
| Additions | 1,635,217 | |
| Disposals Revaluations |
(1,922,183) ~809,499) |
|
| At 31 December 2022 | 11,770,433 | |
| NET BOOK VALUE | ||
| At 31 December 2022 | 11,770,433 | |
| At 31 December 2021 | 12,866,898 | |
| There were no investment | assets outside the UK. |
| Listed | ||
|---|---|---|
| investments | ||
| Valuation in 2022 |
11,770,433 | |
| 10. | INVESTIVIENT PROPERTY | |
| FAIR VALUE | ||
| At 1 January 2022 | ||
| and 31 December 2022 | 4,166,000 | |
| NET BOOK VALUE | ||
| At 31 December 2022 | 4,166,000 | |
| At 31 December 2021 | 4,166,000 |
| 11. | DEBTORS:A | MOUNTS F |
ALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Trade debtors | 1,398 | 6,448 | |||
| Other debtors | 1,152,028 | ||||
| Accrued income | 14,932 | 5,320 | |||
| Prepaym ants | 2,393 | 1,816 | |||
| 1,170,751 | 13,584 | ||||
| 12. | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | ||||
| E | F | ||||
| Trade creditors | 7,432 | 613,716 | |||
| Other creditors | 16,891 | 12,639 | |||
| 24,323 | 626,355 | ||||
| 13. | MOVEMENT | IN FUNDS |
| MOVEMENT | IN FUNDS | ||||
|---|---|---|---|---|---|
| Net | Transfers | ||||
| movement | between | At | |||
| At, 1/1/22 | in funds | funds | 31/12/22 | ||
| E | E | ||||
| Unrestricted | funds | ||||
| General fund | (553,404) | (262,681) | 818,862 | 2,777 | |
| Endowment | funds | ||||
| Permanent | endowment | 18,455,635 | (462,566) | (818,862) | 17,174,207 |
| TOTAL FUNDS | 17,902,231 | ~725,247) | 17,176,984 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| F | F | ||||
| Unrestricted | funds | ||||
| General fund |
310,310 | (572,991) | (262,681) | ||
| Endowment | funds | ||||
| Permanent | endowment | (462,566) | (462,566) | ||
| TOTAL FUNDS | 310,310 | ~572,991) | ~462,566) | )725,247) |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1/1/21 | in funds | 31/12/21 | |||
| E | E | E | |||
| Unrestricted | funds | ||||
| General | fund | 105,798 | (659,202) | (553,404) | |
| Endowment | funds | ||||
| Permanent | endowment | 14,272,088 | 4,183,547 | 18,455,635 | |
| TOTAL | FUNDS | 14,377,886 | 3,524,345 | 17,902,231 |
| Comparative | net movement in fun |
ds, included in the abo |
ve are as follows | : | |
|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| E | |||||
| Unrestricted | funds | ||||
| General fund |
303,816 | (963,018) | (659,202) | ||
| Endowment | funds | ||||
| Permanent | endowment | 4,183,547 | 4,183,547 | ||
| TOTAL FUNDS | 3D3,816 | ~963,D18) | 4,183,547 | 3,524,345 |
| Trust for | Unapplied | Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Endowment | funds | Investment | Total Return | Endowment | |||||||
| At the beginning ofthe accounting |
period | 18,455,635 | 18,455,635 | ||||||||
| Movements | in the accounting | period | |||||||||
| Resolution | 13December 2022 | allocated | permanent | ||||||||
| endowment | transfer balance | (4,549,414) | 4,549,414 | ||||||||
| Investment (losses) |
return: realised and | unrealised | gains and | - | ~462,566)~462,566) | ||||||
| (4,549,414) | 4,086,848 | (462,566) | |||||||||
| Unapplied | total return allocated | to the | income | fund | in | ||||||
| the reporting | period | (818,862) | |||||||||
| Unapplied | total return allocated | to endowment | for | ||||||||
| Indexation | in the reporting period |
||||||||||
| Net movement in the reporting |
period | (4,549,414) | 3,267,985 | (462,566) | |||||||
| At the end | ofthe accounting | period | |||||||||
| Permanent | endowment | 13,906,221 | 13,906,221 | ||||||||
| Unapplied | total return | 3,267,985 | 3,267,985 | ||||||||
| Total | 13,906,221 | 3,267,985 | 17,174,207 |