**REGISTERED CHARITY NUMBER: 309586** ## **Trustees' Report and** ## **Unaudited Financial Statements for the Year Ended 31 December 2021** ## **for** **Parrott & Lee Educational Foundation** Douglas Home & Co Ltd Chartered Accountants 47-49 The Square Kelso Roxburghshire TD5 7HW Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Contents of the Financial Statements for the Year Ended 31 December 2021** |||**Page**|| |---|---|---|---| |**Trustees' Report**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Statement of Financial Position**||5|| |**Notes to the Financial Statements**|6|to|10| |**Detailed Statement of Financial Activities**||11|| Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Trustees' Report for the Year Ended 31 December 2021** The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The Foundation exists to provide financial support towards the education and training of young persons in Wootton, near Woodstock, primarily through the medium of Wootton-by-Woodstock C.E (Aided) Primary School, and also of former pupils of the School. The regulations as to the application of income are more fully set out in paragraphs 26 and 27 of the Scheme. The Foundation owns four investment properties, which are let, but does not have offices of its own or staff. ## **FINANCIAL REVIEW** In 2021 grants to Wootton School, the Foundation’s principal beneficiary, were £17,500 (2020: £15,000), within their normal position in the £15,000-£20,000 bracket. 1. In 2021, total incoming resources were £38,958 (2020: £33,211), total resources expended decreased to £33,506 (2020: £44,821) and unrealised gains on investment assets were £5,989 (2020: £2,538). This has resulted in net income of £11,441 compared to net expenditure of £9,072 in 2020. 2. Substantially all incoming resources comprised rents received from the four investment properties. The increase in rents, to £37,718 from £31,996 in 2020, reflected there being no lengthly void in 2021. 3. The principal variance in expenditure was the decrease in property repairs, to £4,604 from an exceptionally high £20,664 in 2020. 4. In 2021, six grants (2020: three) for educational purposes totalling £1,800 (2020: £900) were made to young persons to assist them to embark on a career. 5. If grants are excluded, total expenditure was £14,206 (2020: £28,921) and net incoming resources were £24,752 (2020: £4,290). 6. The Foundation’s net assets are substantially represented by the freehold interest in School House and School Cottages 1,2 and 3, Church Street, Wootton-by-Woodstock, Oxon, OX20 1DH. These have a cost of zero and are stated at a valuation as at 31 December 2003 by Chancellors, Estate Agents, of Woodstock, of £875,000. 7. The principal perceived risks are the destruction of the properties and bad tenants. These risks are mitigated by, respectively, insurance and the retention as managers of the properties of a leading local firm of letting agents. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The Foundation, in the Parish of Wootton in the District of West Oxfordshire in the County of Oxfordshire, was founded by will dated 26 April 1785 and comprised in Schemes of the Charity Commissioners of 24 January 1893 and 27 March 1907. It is now regulated by a Scheme including appointment of Trustees and vesting in the Official Custodian of Charities of 29 November 1982. Page 1 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Trustees' Report for the Year Ended 31 December 2021** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 309586 ## **Principal address** c/o Mr J Harwood West End House Wootton Woodstock Oxon OX20 1DL ## **Trustees** Mr John Harwood (nominative ), Chairman Sir Charles Ponsonby (co-optative ), Treasurer and Clerk Rev Stephen Jones, Rector (ex-officio) Mary Tuely (co-optative) Mr Miles Young , Warden, New College , Oxford (ex-officio) The Trustees meet at least twice a year, normally in March and October. ## **Independent Examiner** Alan Drummond CA Douglas Home & Co Ltd Chartered Accountants 47-49 The Square Kelso Roxburghshire TD5 7HW ## **Bankers** Barclays Bank plc 25 High Street Kidlington Oxon OX5 2DH 07/03/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ Mr John Harwood - Trustee Page 2 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Independent Examiner's Report to the Trustees of Parrott & Lee Educational Foundation** ## **Independent examiner's report to the trustees of Parrott & Lee Educational Foundation** I report to the charity trustees on my examination of the accounts of Parrott & Lee Educational Foundation (the Trust) for the year ended 31 December 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Alan Drummond CA Douglas Home & Co Ltd Chartered Accountants 47-49 The Square Kelso Roxburghshire TD5 7HW 25/03/2022 Date: ............................................. Page 3 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Statement of Financial Activities for the Year Ended 31 December 2021** |||31/12/21|31/12/20| |---|---|---|---| |||Unrestricted|Total| |||fund|funds| ||Notes|£|£| |**INCOME AND ENDOWMENTS FROM**|||| |Investment income|2|38,958|33,211| |**EXPENDITURE ON**|||| |Raising funds|3|13,353|28,105| |**Charitable activities**|||| |Youth education||20,153|16,716| |**Total**||33,506|44,821| |Net gains on investments||5,989|2,538| |**NET INCOME/(EXPENDITURE)**||11,441|(9,072)| |**RECONCILIATION OF FUNDS**|||| |**Total funds brought forward**||920,831|929,903| |**TOTAL FUNDS CARRIED FORWARD**||932,272|920,831| |**CONTINUING OPERATIONS**|||| All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 4 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Statement of Financial Position 31 December 2021** |Notes
**FIXED ASSETS**
**Investments**
Investments
6
Investment property
7
**CURRENT ASSETS**
Cash at bank
8
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|31/12/21
Total
funds
£
48,210
875,000
923,210
10,317
(1,255)
9,062
932,272
932,272
932,272
932,272|31/12/20
Total
funds
£
42,221
875,000
917,221
4,654
(1,044)
3,610
920,831
920,831
920,831
920,831| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 07/03/2022 ............................................. Mr John Harwood - Trustee ............................................. Sir Charles Ponsonby - Trustee The notes form part of these financial statements Page 5 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. INVESTMENT INCOME** ||31/12/21|31/12/20| |---|---|---| ||£|£| |Rents received|37,718|31,996| |Dividend income|1,240|1,215| ||38,958|33,211| Page 6 continued... Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021** ## **3. RAISING FUNDS** ## **Investment management costs** |**Investment management costs**||| |---|---|---| ||31/12/21|31/12/20| ||£|£| |Property management|5,528|4,279| |Property repairs|4,604|20,664| |Property insurance|2,535|2,290| |Property other|686|872| ||13,353|28,105| |**GRANTS PAYABLE**||| ||31/12/21|31/12/20| ||£|£| |Youth education|19,300|15,900| |The total grants paid to individuals during the year was as follows:||| ||31/12/21|31/12/20| ||£|£| |Wootton-by-Woodstock School|17,500|15,000| |Young people|1,800|900| ||19,300|15,900| ## **4. GRANTS PAYABLE** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **6. FIXED ASSET INVESTMENTS** |**MARKET VALUE**|2021|2020| |---|---|---| ||£|£| |**COIF Charity Funds**||| |A/C 103040001T - 1343.53 shares|27,632|24,199| |A/C 103040002T - 1000.58 shares|20,578|18,022| |||| ||48,210|42,221| |||| |||| |Movement in investments during the year is as follows:||| |Market value at 1 January|42,221|39,683| |Unrealised gain on revaluation|5,989|2,538| |||| |Market value at 31 December|48,210|42,221| |||| There were no investment assets outside the UK. continued... Page 7 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021** ## **7. INVESTMENT PROPERTY** |**FAIR VALUE**
At 1 January 2021
and 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|£
875,000| |---|---| ||875,000| ||875,000| These comprise School House and Cottages No 1, 2 and 3, Church Street, Wootton, Woodstock, Oxon, OX20 1DH. All were built in the period 1835-37, in Cotswold stone. School House has three bedrooms, whilst the Cottages have one bedroom. As at 31 December 2021, all four properties were in good structural and decorative condition. Investments in properties are stated at the valuation by a local firm of estate agents at 31 December 2003. ## **8. CASH AT BANK** |Barclays account
Total
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued expenses
**10.**
**MOVEMENT IN FUNDS**
At 1/1/21
£
**Unrestricted funds**
General fund
920,831
**TOTAL FUNDS**
920,831
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
38,958
(33,506)
**TOTAL FUNDS**
38,958
(33,506)||31/12/21
Total
funds
£
10,317
10,317
31/12/21
£
1,255
Net
movement
in funds
£
11,441
11,441
Gains and
losses
£
5,989
5,989||31/12/20
Total
funds
£
4,654|31/12/20
Total
funds
£
4,654| |---|---|---|---|---|---| |||||4,654|| ||||31/12/20
£
1,044
At
31/12/21
£
932,272
932,272
Movement
in funds
£
11,441
11,441|31/12/20
£
1,044
At
31/12/21
£
932,272|| |||||932,272|| ||||||11,441| continued... Page 8 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021** ## **10. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/20
£
929,903
929,903|Net
movement
in funds

£
(9,072)
(9,072)|At
31/12/20
£
920,831| |---|---|---|---| ||||920,831| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|33,211|(44,821)|2,538|(9,072)| |**TOTAL FUNDS**|33,211|(44,821)|2,538|(9,072)| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/1/20
£
929,903
929,903|Net
movement
in funds

£
2,369
2,369|At
31/12/21
£
932,272| |---|---|---|---| ||||932,272| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|72,169|(78,327)|8,527|2,369| |**TOTAL FUNDS**|72,169|(78,327)|8,527|2,369| Net movement in funds, included in the above, are as follows: continued... Page 9 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2021** ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2021. Page 10 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd **Parrott & Lee Educational Foundation** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 31 December 2021**||| ||31/12/21|31/12/20| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Investment income**||| |Rents received|37,718|31,996| |Dividend income|1,240|1,215| ||38,958|33,211| |**Total incoming resources**|38,958|33,211| |**EXPENDITURE**||| |**Investment management costs**||| |Property management|5,528|4,279| |Property repairs|4,604|20,664| |Property insurance|2,535|2,290| |Property other|686|872| ||13,353|28,105| |**Charitable activities**||| |Bank charges|103|84| |Grants payable|19,300|15,900| ||19,403|15,984| |**Support costs**||| |**Governance costs**||| |Independent Examiner's fee|750|732| |Total resources expended|33,506|44,821| |**Net income/(expenditure) before gains and**||| |**losses**|5,452|(11,610)| |**Unrealised recognised gains and losses**||| |Unrealised gains/(losses) on fixed asset investments|5,989|2,538| |**Net income/(expenditure)**|11,441|(9,072)| This page does not form part of the statutory financial statements Page 11 Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd ## Completed Document Audit Report Completed with SignWell.com ## **Title: A - Final Accounts** Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd ## **Files** A - Final Accounts.PDF Mar 22, 2022 12:03:48 UTC ## **Activity** |**Karen Laidlaw**|created the document|Mar 22, 2022| |---|---|---| |IP: 109.235.121.182||12:04:18 UTC| |**Karen Laidlaw**|sent the document to aland@dhco.co.uk,|| ||cponsonby88@gmail.com, and|| ||johnwharwood@hotmail.com|Mar 22, 2022| |IP: 109.235.121.182||12:05:53 UTC| |**John Harwood**|first viewed the document|Mar 25, 2022| |IP: 86.147.37.123||12:09:14 UTC| |**John Harwood**|signed the document|Mar 25, 2022| |||12:12:01 UTC| |**Charles Ponsonby**|first viewed the document|Mar 25, 2022| |IP: 213.18.177.55||17:20:17 UTC| |**Charles Ponsonby**|signed the document|Mar 25, 2022| |||18:48:06 UTC| |**Douglas Home & Co**||| |**Limited AWD**|first viewed the document|Mar 28, 2022| |IP: 109.235.121.182||08:05:34 UTC| |**Douglas Home & Co**||| |**Limited AWD**|signed the document|Mar 28, 2022| |||09:33:11 UTC| Document ID: 6f89f5be-b2f2-4b8f-b49b-616d7f2f2bcd