| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisers | ||
| Trustees' report | 2-5 | ||
| Independent auditor's |
report | on the financial statements | 6-9 |
| Statement offinancial | activities | 10 | |
| Balance sheet | |||
| Statement ofcash flows | 12 | ||
| Notes to the financial | statements | 13-21 |
| Trustees | Mrs CSBevan, Chairman1 | ||
|---|---|---|---|
| Mr RCouzens1 | |||
| Prof C C L Drummond | |||
| Dr J Jefferies | |||
| Mrs C LJordan | |||
| Mrs K Ringham1 | |||
| Mrs K Stringer | |||
| Mrs C0Warriner | |||
| Investment sub-committee |
|||
| Charity registered | |||
| number | 309679 | ||
| Principal | office | Headington School Oxford |
|
| OX3 OBL | |||
| Independent | auditor | Crowe U.K. LLP | |
| Fourth Floor | |||
| StJames House | |||
| StJames Square | |||
| Cheltenham | |||
| GL50 3PR | |||
| Bankers | Barclays Bank pic | ||
| PO Box333 | |||
| Oxford | |||
| OX1 3HS | |||
| Solicitors | Rickerby's LLP |
||
| Ellenborough House |
|||
| Wellington Street |
|||
| Cheltenham | |||
| Gloucestershire | |||
| GL50 2QJ | |||
| Investment | Advisers | Sarasin &Partners |
|
| Juxon House | |||
| 100St. Paul's Churchyard | |||
| London | |||
| EC4M 8BU |
| Unrestricted | Restricted | Endowment | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | fUflds | |||||
| 2021 | 2021 | 2021 | 2021 | 2020 | |||||
| Note | |||||||||
| Income from: |
|||||||||
| Investments | 49,269 | 17,901 | 67,170 | 64,396 | |||||
| Total income | 49,269 | 17,901 | 67,170 | 64,396 | |||||
| Expenditure | on". | ||||||||
| Raising funds: | |||||||||
| Financing costs | 29 | 40 | 69 | ||||||
| Investment | |||||||||
| management | 15,041 | 5,361 | 20,402 | 19,900 | |||||
| Charitable activities |
73,420 | 73,420 | 63,360 | ||||||
| Total expenditure | 88,490 | 5,401 | 93,891 | 83,269 | |||||
| Net | |||||||||
| (expenditure)/income | |||||||||
| before net | |||||||||
| gains/(losses) | on | ||||||||
| investments | (39,221) | 12,500 | (26,721) | (18,873) | |||||
| Net gains/(losses) investments |
on | 383,024 | 128,701 | 511,725 | (161,363) | ||||
| Net movement | in | ||||||||
| funds | 343,803 | 141,201 | 485,004 | (180,236) | |||||
| Reconciliation | of | ||||||||
| funds: | |||||||||
| Total funds brought | |||||||||
| forward | 2,067,661 | 727,836 | 5 | 2,795,502 | 2,975,738 | ||||
| Net movement | in funds | 343,803 | 141,201 | 485,004 | (180,236) | ||||
| Total funds carried | |||||||||
| forward | 2,411,464 | 869,037 | 5 | 3,280,506 | 2,795,502 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| investments | 3277773 | 2,780,794 | ||||
| 3,277,773 | 2,780,794 | |||||
| Current assets | ||||||
| Cash at bank and | in hand | 11„910 | 18,112 | |||
| 11,910 | 18,112 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 10 | (9,177) | (3,404) | |||
| Net current assets | 2,733 | 14,708 | ||||
| Total net assets | 3,280,506 | 2,795,502 | ||||
| Charity funds | ||||||
| Endowment funds |
12 | 5 | 5 | |||
| Restricted funds | 12 | 869,037 | 727,836 | |||
| Unrestricted funds |
12 | 2,411,464 | 2,067,661 | |||
| Total funds | 3,280,506 | 2,795,502 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Cash flows from operating | activities | |||||
| Net cash used in operating activities |
14 | (67,647) | (61,656) | |||
| Cash flows from investing | activities | |||||
| Income from investments | 67,170 | 64,396 | ||||
| Proceeds from sale of investments | 3,383,376 | 1,764,998 | ||||
| Purchase of investments |
(3,482,398) | (1,769,067) | ||||
| Net cash (used in)/provided | by investing | activities | (31,852) | 60,327 | ||
| Cash flows from financing | activities | |||||
| Finance costs paid | (69) | I'9) | ||||
| Investment management charges |
(20,402) | (19,900) | ||||
| Net cash used in financing | activities | (20,471) | (19,909) | |||
| Change in cash and cash |
equivalents | in | the year | (119,970) | (21,238) | |
| Cash and cash equivalents | at the beginning | ofthe year | 131,884 | 153,122 | ||
| Cash and cash equivalents | at the end | of | the year | 15 | 11,914 | 13'/,884 |
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2020 | ||
| Charitable | activities | 73,420 | 73,420 | 63,360 | |
| Total 2020 | 36,809 | 26,551 | 63,360 |
| 2021 | 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Charitable | donations | made | to | Headington | School | Oxford | Limited | 70,000 | 60,000 |
| 2021f | 2020 | ||
|---|---|---|---|
| Auditor's | remuneration | ||
| Audit services | 1,764 | 1,704 | |
| Non-audit | services | 1,656 | 1,656 |
| 3,420 | 3,360 |
| Listed | Other | ||
|---|---|---|---|
| investments | investments | Total | |
| Cost orvaluation | |||
| At 1 August 2020 | 2,667,022 | 113,772 | 2,780,794 |
| Additions | 3,482,398 | 3,482,398 | |
| Revaluations | 511,725 | 511,725 | |
| Disposals | (3,383,376) | (3,383,376) | |
| Movement in cash deposits |
(113,768) | (113,768) | |
| At 31 July 2021 | 3,277,769 | 4 | 3,277,773 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Accruals | 9,177 | 3,404 | ||||
| 11. | Financial | instruments | ||||
| 2021 | 2020 | |||||
| Financial | assets | |||||
| Financial | assets measured | at fair value through | income and expenditure | 3,277,773 | 2,780,794 |
| Statement | offunds - prior | year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| 1August | Gains/ | Balance at | |||||
| 2019 | Income | Expenditure | (Losses) | 31Ju/y 2020 | |||
| Unrestricted | funds | ||||||
| Designated | Fund | 2,210,534 | 49,188 | (51,530) | (140,531) | 2,067,661 | |
| Endowment | funds | ||||||
| Endowment | Fund | ||||||
| Restricted | funds | ||||||
| Restricted | Fund | 765,199 | 15,208 | (31,739) | (20,832) | 727,836 | |
| Total offunds | 2,975,738 | 64,396 | (83,269) | (161,363) | 2,795,502 |
| Analysis ofnet assets between fund | s - current year | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2021f | 2021 f |
2021 f |
2021f | |
| Fixed asset investments | 2,413,838 | 863,935 | 3,277,773 | |
| Current assets | 5,308 | 6,597 | 11,910 | |
| Creditors due within one year | (7,682) | (1,495) | (9,177) | |
| Total | 2,411,464 | 869,037 | 5 | 3,280,506 |
| Analysis ofnet assets between funds | - prior year | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |
| funds | funds | funds | funds | |
| 2020 | 2020 | 2020 | 2020 | |
| Fixed asset investments | 2,042,228 | 738,566 | 2,780,794 | |
| Current assets | 28,837 | (10,730) | 18,112 | |
| Creditors due within one year | (3,404) | (3,404) | ||
| l | 2,067,661 | 727,836 | 5 | 2,795,502 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Net income/(expenditure) | for | the year (as per Statement | of Financial | ||
| Activities) | 485,004 | (180,236) | |||
| Adjustments for: |
|||||
| (Gains)/losses on investments |
(511,725) | 161,363 | |||
| Income from investments | (67,170) | (64,396) | |||
| Increase in creditors |
5,773 | 1,704 | |||
| Finance costs | 69 | 9 | |||
| Investment management |
charges | 20,402 | 19,900 | ||
| Net cash used in operating | activities | (67,647) | (61,656) | ||
| Analysis ofcash and cash | equivalents | ||||
| 2021 | 2020 | ||||
| Cash at bank and in hand |
11,910 | 18,112 | |||
| Cash held in investments | 4 | 113,772 | |||
| Total cash and cash equivalents | 11,914 | 131,884 |
| At 1 August | At 31July | ||||
|---|---|---|---|---|---|
| f 2020 |
Cash flowsf | 2021f | |||
| Cash | at bank and | in hand | 18,112 | (6,202) | 11,910 |
| Cash | held in investments | 113,778 | (113,774) | 4 |