REGISTERED CHARITY NUMBER: 309766
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9 to 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The Governors present their report with financial statements for the year ended 31 December 2021. The Governors remain unchanged since our last report. The Governors 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) and the Charities Act 2011.
The Trustees have changed, and these are noted separately.
Philip Saunderson, a Governor for over 50 years, retired from the Board in December 2021, and his experience and wealth of knowledge will be missed.
OBJECTIVES AND ACTIVITIES Objectives and aims
The main income of the Foundation is derived from the Investment Assets. The income from the Investment Assets is applied by the Governors in accordance with Section 32 of the 1986 Scheme, namely:
a) Subject to payment of expenses of management and any superannuation payments in making payments to the Governors for the time being of All Saints CEVA Primary School to be applied by them in discharging their obligations under the Education Acts with respect to the maintenance of the school.
b) Subject thereto in any or all of the following ways:
i. Payments to the Governors of any voluntary Church of England School substantially serving the Borough of Northampton to be applied in discharging their obligations under the Education Acts with respect to the maintenance of the School concerned.
ii. The provision of such special benefits of any kind not normally provided by the local education authority for All Saints CEVA Primary School or any other voluntary Church of England School substantially serving the Borough of Northampton as may from time to time be agreed between the Foundation Governors and the Governors of the School concerned after consultation with the authority.
iii. Promoting the education (including social and physical training) of persons under the age of 25 years who are in need of financial assistance and who are attending All Saints CEVA Primary School or have attended that School for not less than two years or who are resident in the Borough and subject thereto, persons under the age of 25 years who are in need of financial assistance and who are attending schools or full time courses of education, to include Northampton University, within the Borough of Northampton. In addition, the Governors are able to award grants for further education and university courses beyond the Borough of Northampton where appropriate for locally resident students, subject to the full provisions of the 1986 scheme.
Public benefit
The Governors confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Scheme's aims and objectives and in setting the grant making policy for the year.
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
ACHIEVEMENT AND PERFORMANCE
Review of developments and achievements
The works to renovate, improve and remedy the structural defects in 10-12 Bridge Street, Northampton have almost been completed and in 2022 will result in a ground floor shop unit and three self-contained flats with car parking accessed from Kingswell Street. The extent of work required was found to be more extensive than initially planned due to the defects, and the cost of the work exceeded the original quotations. However, the shop and all three flats were promptly let and are now income producing, and the Foundation now owns a fully refurbished Georgian property, which no longer has structural defects.
Unfortunately, the neighbouring property at 8 Bridge Street was seriously affected by rainwater penetration from the neighbouring property, which required immediate attention. Building works were necessary to dry out the property, replace two staircases, which were found to be rotten and carry out associated reinstatement works, whilst retaining our existing occupiers. The tenant of the shop unit decided to vacate the property as a result of the water penetration and the three residential occupiers were re-located temporarily at the Foundation's expense whilst the reinstatement works were undertaken. The cost of rectifying the defect is potentially the subject of court proceedings against a third party. Litigation advice has been sought and the matter is currently in the hands of our solicitors.
Otherwise, the income from property continues to grow, as a result of the works to improve and update all of the properties in the portfolio, as well as optimising the use of the upper parts of the retail units.
Messrs Budworth Hardcastle (recently taken over by Eddisons) have managed our commercial premises and report quarterly to the Governors on all matters. Greener Rentals undertake a similar role in respect of the residential premises which are currently fully let, with rents increasing during the year in line with market trends.
Following the Covid-19 pandemic, our managing agents have established a programme of collecting the rental arrears incurred from two of the commercial properties, which is proving successful. The only vacant property is the ground floor shop at 8 Bridge Street, which is currently being marketed by Eddison's.
The Old School building in Kingswell Street continues to be let on a peppercorn rent to Lowdown, the youth counselling service which provides invaluable guidance to the young people of Northampton and surrounding villages. The Governors have entered into a longer term lease to provide stability for Lowdown and to enable them to apply for charitable funding for their proposed improvement works and extension. Lowdown intends to commence their extension works on a scheduled basis, having appointed building contractors to begin the first phase of the work.
Our investment portfolio, managed by Brewin Dolphin, has performed well despite the pandemic, and has provided the Governors with income to assist with the property improvement scheme. The Property Reserve Fund was fully utilised to undertake the works to 10-12 Bridge Street and the reinstatement works at 8 Bridge Street. It is the Governors' intention to rebuild a suitable Property Reserve Fund for use in any future property repairs.
The Trustees continue to use the valuable services of Messrs. HCR Hewitsons Solicitors, formerly known as Hewitsons LLP, for our legal and secretarial services and are grateful to them for all the work that they do on our behalf. The Trustees continue to take their responsibilities for this distinguished Foundation seriously, founded nearly 300 years ago, and believe that their actions over the past year have enhanced its reputation for sound governance within the local community which it serves.
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to hold the property and investments portfolios to generate (taking one year with another) sufficient income to continue current levels of grant making in real terms. A balance is held in liquid funds to cover management expenditure as and when it arises.
At the 31 December 2021, the amount of the liquid reserves in the unrestricted fund amounted to £230,194 (2020: £55,328).
The results for the year are set out within the SOFA.
At 31 December 2021 the value of the investments was £72,430 (2020: £485,211) excluding cash at the brokers of £2,644 (2020: £11,766).
The general fund amounted to £3,822,923 at 31 December 2021 (2020: £3,786,024). The increase during the year arose due to net incoming resources of £18,121, and investment gains in valuation of £18,778.
STRUCTURE, GOVERNANCE AND MANAGEMENT Objects, organisation, policies and changes
The Charity is governed by a Scheme dated 27 November 1986, as amended 5 October 2004, 27 September 2005, and 6 July 2011, framed under the Endowed Schools Acts (the 1986 Scheme) which has reference to all earlier schemes, as subsequently amended.
The body of Trustees consists of one ex-officio Governor, three Nominative Governors and eight Co-optative Governors, as listed on page 4 of this report.
The terms of appointment, as laid out in the Charity's scheme, are as follows:
Ex officio Governor - shall be the Rector for the time being of the Ecclesiastical Parish of All Saints together with St. Katherine and St. Peter, Northampton.
Nominative Governors - two appointed by West Northants Council, as local education authority and one by the Peterborough Diocesan Board of Education. Those appointed by the West Northants Council hold office for a term ending on the date of appointment of their successors, whilst those appointed by the Peterborough Diocesan Board of Education are appointed for a term of four years.
Co-optative Governors - appointed for a term of five years by resolution of the Governors passed at a special meeting.
The capital of the Foundation includes various Freehold Properties. These properties comprise Investment Properties, together with the following Freehold Properties which are fixed assets for the purposes of these financial statements:
The Old School Building, Kingswell Street, Northampton All Saints CEVA Primary School, Kingsthorpe, Northampton
Induction and training of new trustees
The Governors seek advice from their professional advisers relevant to their functions.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
309766
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Principal address
c/o Angela Moon, HCR Hewitsons Elgin House Billing Road Northampton Northamptonshire NN1 5AU
Trustees
Co-optative Governors (appointed for a term of five years)
David Smith (Chairman) - appointed 12 December 2010, re-elected 10 December 2020
Philip Richard Saunderson (Deputy Chairman) - appointed 11 March 2010, re-elected 18 June 2020, retired 9 December 2021
Hilary Spenceley - appointed 13 April 2008, re-elected 13 June 2018
Andrew Cowling - appointed 9 June 2011, re-elected 13 June 2016, re-elected 24 June 2021 Richard Ormston (Archdeacon) - appointed 2 October 2014, re-elected 18 June 2020 Richard Lambert - appointed 2 October 2014, re-elected 18 June 2020, retired 9 December 2021 David Lett - appointed 8 October 2015, re-elected 01 October 2020 Jane Birch - appointed 9 December 2021 Ian James - appointed 9 December 2021
Nominative Governors
Susan Lamb - appointed 21 March 2019 John Morris - appointed 7 October 2021 Brian Sargeant - appointed 9 December 2021
Ex-officio Governor Oliver Coss - appointed 7 September 2016
Members of the Grants sub-committee Richard Ormston Susan Lamb
Members of the Schools sub-committee Oliver Cross Jane Birch
Members of the Finance & Property sub-committee Andrew Cowling David Lett Ian James Hilary Spenceley
Independent Examiner
DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS Solicitors
HCR Hewitsons LLP Elgin House Billing Road Northampton NN1 5AU
Investment Advisers
Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD
Property Advisers
Budworth Hardcastle 4 Waterside Way The Lakes Northampton NN4 7XD
Residential Property Managers Greener Rentals & Property Management 22 Bridge Street Northampton NN1 1NW
Bankers
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ
Approved by order of the board of trustees on 6[th] October 2022 and signed on its behalf by:
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
Independent examiner's report to the trustees of Beckett's & Sargeant's Educational Foundation
I report to the charity trustees on my examination of the accounts of Beckett's & Sargeant's 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:
-
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
-
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.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.
N Fox FCA DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ
Date: 12 October 2022
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities 4 Grants paid to individuals Grants paid to institutions Management costs Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted funds £ 203,847 97,111 57,224 1,000 30,391 185,726 18,778 36,899 3,786,024 3,822,923 |
2020 Total funds £ 203,121 65,855 78,260 21,633 22,962 188,710 27,234 41,645 3,744,379 3,786,024 |
|---|---|---|
The notes form part of these financial statements
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 8 Investments Investments 9 Investment property 10 CURRENT ASSETS Debtors 11 Cash at bank CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 13 Unrestricted funds: General fund TOTAL FUNDS |
2021 Unrestricted funds £ 206,652 72,430 3,373,460 3,652,542 34,421 230,194 264,615 (94,234) 170,381 3,822,923 3,822,923 3,822,923 3,822,923 |
2020 Total funds £ 214,563 485,211 3,099,907 3,799,681 18,571 55,328 73,899 (87,556) (13,657) 3,786,024 3,786,024 3,786,024 3,786,024 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 6[th] October 2022 and were signed on its behalf by:
The notes form part of these financial statements
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BECKETT'S & SARGEANT'S 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.
Beckett's and Sargeant's Educational Foundation is an unincorporated charity, registered in England and Wales. The charity's number and registered office address can be found on the Company Information page.
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 are charged in the financial statements when paid. Some grants are awarded for disbursement of the funds in a subsequent accounting period.
Raising funds
Costs of generating funds comprises those costs directly attributable to managing the investment portfolio and raising investment income.
Charitable expenditure
Charitable expenditure represents the direct costs, grants and depreciation incurred for the furtherance of the charity's objectives as stated in the annual report. Expenditure is shown gross, inclusive of unrecoverable VAT.
Governance costs
Governance costs represent the costs of the Clerk's time attributable to Governors' meetings and the cost of accountancy services.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Assets costing more than £1,000 are capitalised.
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
Listed investments
Listed investments are valued at fair value at the year end. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of financial activities.
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
General funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are those which have been set aside out of unrestricted funds by the Governors for specific purposes.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities.
Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.
2. INVESTMENT INCOME
| Rents received Water, electricity and insurance income Dividends received from listed investments Interest receivable |
2021 £ 189,870 9,297 4,680 - 203,847 |
2020 £ 184,336 9,002 9,721 62 203,121 |
|---|---|---|
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
3. RAISING FUNDS
| Investment management costs 2021 £ Clerk's fees 3,372 Portfolio management fees 2,992 Professional fees re properties 5,559 Rent collection fees 10,623 Property repairs 9,599 Rates, water and insurance 57,055 Depreciation 7,911 97,111 4. CHARITABLE ACTIVITIES COSTS Grant funding of activities Support (see note costs (see 5) note 6) £ £ Grants paid to individuals 52,220 5,004 Grants paid to institutions 1,000 - Management costs - 30,391 53,220 35,395 5. GRANTS PAYABLE 2021 £ Grants paid to individuals 52,220 Grants paid to institutions 1,000 53,220 The total grants paid to institutions during the year was as follows: 2021 £ All Saints CEVA Primary School - St Andrews CEVA Primary School - St Luke's CEVA Primary School - Collingtree Primary School - St. Peter's Independent School - Weston Favell CEVA Primary School - Malcolm Arnold Academy 1,000 1,000 |
2020 £ 2,280 4,752 9,714 9,904 10,278 21,016 7,911 65,855 Totals £ 57,224 1,000 30,391 88,615 2020 £ 78,260 21,633 99,893 2020 £ 9,043 5,000 3,500 2,090 1,000 1,000 - 21,633 |
|---|---|
All grants paid to institutions were for educational purposes and accord with the Charity's Scheme
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
5. GRANTS PAYABLE - continued
The total grants paid to individuals during the year was as follows:
Grants for educational purposes
| 2021 | 2020 |
|---|---|
| £ | £ |
| 52,220 | 78,260 |
The total number of grants awarded to individuals during the year was 137 (2020: 220). All grants made were for educational purposes and accord with the Charity's Scheme.
6. SUPPORT COSTS
| Governance Management costs £ £ Grants paid to individuals 2,780 2,224 Management costs 14,078 16,313 16,858 18,537 |
Totals £ 5,004 30,391 |
|---|---|
| 35,395 |
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | ||
|---|---|---|
| Grants paid to Management individuals costs £ £ Clerk's administration fees 2,780 14,078 Clerk's governance fees 2,224 11,262 Independent examiner's remuneration - 672 Independent examiner's remuneration non-examination - 1,722 Sundries - 2,447 Interest payable and similar charges - 210 5,004 30,391 |
2021 Total activities £ 16,858 13,486 672 1,722 2,447 210 35,395 |
2020 Total activities £ 11,401 9,122 640 1,640 74 85 |
| 22,962 |
7. 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.
The Governors presented Philip Saunderson with a small gift of cufflinks worth £50 after his 50 plus years tenure as a governor.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 8. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Freehold | ||
| property | ||
| £ | ||
| COST | ||
| At 1 January 2021 and | ||
| 31 December 2021 | 395,535 | |
| DEPRECIATION | ||
| At 1 January 2021 | 180,972 | |
| Charge for year | 7,911 | |
| At 31 December 2021 | 188,883 | |
| NET BOOK VALUE | ||
| At 31 December 2021 | 206,652 | |
| At 31 December 2020 | 214,563 | |
| 9. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January 2021 | 485,211 | |
| Additions | 100,073 | |
| Disposals | (531,632) | |
| Revaluations | 18,778 | |
| At 31 December 2021 | 72,430 | |
| NET BOOK VALUE | ||
| At 31 December 2021 | 72,430 | |
| At 31 December 2020 | 485,211 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 31 December 2021 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in 2021 | 9,199 | |
| Cost | 63,231 | |
| 72,430 |
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
10. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2021 Additions At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
£ 3,099,907 273,553 3,373,460 3,373,460 3,099,907 |
|---|---|
Investment properties were professionally valued in April 2018 by Budworth Hardcastle Property Consultants. The Trustees consider that the fair value of the properties has not changed since this valuation, accept for the improvement works, and is materially correct as at the year end.
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Rental income owing 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income Grants payable 13. MOVEMENT IN FUNDS At 1/1/21 £ Unrestricted funds General fund 3,786,024 TOTAL FUNDS 3,786,024 |
2021 £ 34,421 2021 £ 14,478 39,756 40,000 94,234 Net movement in funds £ 36,899 36,899 |
2021 £ 34,421 |
|
|---|---|---|---|
| 2021 £ 14,478 39,756 40,000 94,234 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 203,847 203,847 |
Resources expended £ (185,726) (185,726) |
Gains and Movement losses in funds £ £ 18,778 36,899 18,778 36,899 |
|---|---|---|---|
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BECKETT'S & SARGEANT'S EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/1/20 £ 3,744,379 3,744,379 |
Net movement in funds £ 41,645 41,645 |
At 31/12/20 £ 3,786,024 3,786,024 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 203,121 TOTAL FUNDS 203,121 CAPITAL COMMITMENTS Contracted but not provided for in the financial statements |
Resources expended £ (188,710) (188,710) |
Gains and Movement losses in funds £ £ 27,234 41,645 27,234 41,645 2021 2020 £ £ 236,942 - |
|---|---|---|
14. CAPITAL COMMITMENTS
A capital commitment exists at the year end to complete the works to the Investment Property 10-12 Bridge Street.
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021 or for the year ended 31 December 2020.
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