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|CONTENTS|||Page|
|---|---|---|---|
|Reference and administrative
information||||
|Report ofthe Trustees|||2 —6|
|Report ofthe Independent|Auditors||7 —9|
|Statement ofFinancial Activities|||10|
|Balance Sheet||||
|Statement ofCash Flows|||12|
|Notes forming
part ofthe|Financial|Statements|13-21|
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|Names|ofthe Trustees that served during
the year|ofthe Trustees that served during
the year|ofthe Trustees that served during
the year|ofthe Trustees that served during
the year|are as|are as|follows:||
|---|---|---|---|---|---|---|---|---|
|Trustees||||||||Until|
|ExOfficio||||Mr. R. Bernard||||Further notice|
|Nominated||||Mr. O. Harris||||25/11/2022|
|||||Mr. P. Bason||||22/04/2024|
|||||Mrs. M. Kay||||18/10/2023|
|||||Mr. A. Hakes||||20/03/2022|
|||||Mr. J.Drown||||28/04/2024|
|||||Mr. J.Beswick (resigned 24/04/2020)|||||
|Co-opted|||||||||
|||||Mr. G. Moss (Chairman)||||12/03/2024|
|||||Mr. A. Cockerill (Vice Chairman)||||26/03/2022|
|||||Mr. J.Harris||||12/03/2024|
|||||Mr. P.Maynard||||12/03/2024|
|||||Mr. J.Lavelle||||13/07/2023|
|||||Mr. C. Grimshaw|(Retired||11/02/2021)||
|||||Ms. C. Deans (Appointed|||13/07/2021)|13/07/2024|
|Clerk to the||Trustees|and|Ms. N. Maher|||||
|Principal|Address|||Kettering
Parkway||South,|||
|||||Kettering
Venture||Park,|||
|||||Kettering,|||||
|||||Northamptonshire,|||||
|||||NN15 6WN|||||
|Solicitors||||Wilson Browne LLP|||||
|||||Kettering
Parkway||South,|||
|||||Kettering
Venture||Park,|||
|||||Kettering,|||||
|||||Northamptonshire,|||||
|||||NN15 6WN|||||
|Auditors||||Hawsons
Chartered||Accountants|||
|||||Jubilee House,|||||
|||||32 Duncan Close,|||||
|||||Moulton
Park,|||||
|||||Northampton,|||||
|||||NN36WL|||||
|Investment||Managers||Brewin Dolphin Securities|||Limited||
|||||12 Smithfield
Street,|||||
|||||London,|||||
|||||EC1A9BD|||||
|Bankers||||Lloyds Bank pic|||||
|||||2 George Row,|||||
|||||Northampton,|||||
|||||NN1 1DJ|||||
|Valuers &||Estate Managers||Fisher German|||||
|||||40 High Street|||||
|||||Market Harborough|||||
|||||LE167NX|||||
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##
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|BALANCE|SH|EE|T AS A|T 3|1MARCH 2021||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|||||||Notes|||
|Fixed assets|||||||||
|Tangible assets||||||2|3,513,878|3,513,878|
|Investments||||||10|9,717,208|8,214,022|
||||||||13,231,086|11,727,900|
|Current
assets|||||||||
|Debtors||||||12|6,900|7,275|
|Cash at bank and||in|hand||||350,302|112,020|
||||||||357,202|119,295|
|Creditors: amounts|||falling|due|within one year|13|(27,300)|(28,495i|
|Net current|assets||||||329,902|90,800|
|Net assets|||||||13,560,988|11,818,700|
|Funds:|||||||||
|Endowment|fund||||||||
|Capital|funds||||||9,184,312|7,540,696|
|Revaulation||reserve|||||425,500|425,500|
|||||||15|9,609,812|7,966,196|
|Restricted fund|||||||||
|Capital|funds||||||275,760|246,894|
|Revaulation||reserve|||||460,406|460,406|
|||||||15|736,166|707,300|
|Income Funds|||||||||
|Unrestricted|fund -||Endowment||fund|15|711,350|641,578|
|Designated|funds: -||Windfall|Grant fund||15|4||
|||—Astro Turf Grant fund||||15|30||
|||- Buildings||fund||15|2,503,626|2,503,626|
||||||||3,215,010|3,145,204|
|Total funds||||||15|13,560,988|11,818,700|
##
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|STATEMENT OF CAS|H|FL|OWS FORTHE|YEAR ENDE|D 31MARCH 2021||
|---|---|---|---|---|---|---|
||||||Total funds|Total funds|
||||||2021|2020|
|||||Notes|||
|Net cash used in operating|activities|||36|~345.468|657,815|
|Cash flows from investing|activities||||||
|Portfolio income|||||328,654|393,968|
|Proceeds from sale ofinvestments|||||2,617,115|2,154,087|
|Property income|||||14,967|15,336|
|Purchase ofinvestments|||||(2,235,625)|(2,011,279)|
|Net cash provided
by investing||activities|||725,111|552,112|
|Increase/(Decrease)
in cash||and|cash equivalents|in the year|379,643|(105,703)|
|Cash and cash equivalents|at the||beginning of|17|277, 128|382,831|
|the year|||||||
|Total cash and cash equivalents|||at the end|17|656,771|277,128|
|ofthe year|||||||
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|2.|INTEREST IN PROPERTY|INTEREST IN PROPERTY||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Cost/|Cost/|||
||||||Note|Valuation|Valuation|Income||
|||||||As at 31|As at 31|||
|||||||March 2021|March 2020|2021|2020|
||SCHOOL SITE, BILLING ROAD,|||||||||
||NORTHAMPTON||||(a)|I|I|||
||THE CRIPPS HALL||||(b)|I|I|||
||LAND AT BILLING ROAD||||(c)|1,064,468|1,064,468|||
||SPORTS HALL||||(d)|1,439,158|1,439,158|||
||AGRICULTURAL
LAND|||||||||
||6 acres at Sywell|Road, Holcot|||(e)|60,000|60,000|||
||RECREATION GROUND - O.N.A.|||||||||
||15.57 acres||||(e)|360,000|360,000|8,000|8,000|
||BUGBROOKE ESTATE|||||||||
||Ground rents and|wayleaves,|notional|||||||
||value, say||||(e)|250|250|817|1,186|
||BUGBROOKE ESTATE|||||||||
||Agricultural
land|and buildings,||67.944||||||
||acres||||(e)|590,000|590,000|6,150
14,967|6,150
15,336|
||Less: Outgoings|(Note 5)||||||(6,039)|(4,910)|
|||||||3,513,878|3,513,878|8,928|10,426|
||SUMMARY:|||||||||
||Land at Billing Road
Sports Hall|||||1,064,468
1,439,158|1,064,468
1439158|||
||Building
Fund|||||2,503,626|2,503,626|||
||Endowment
Fund|||||420,002|420,002|||
||Restricted
Fund|||||590,250|590,250|||
|||||||3,513,878|3,513,878|||
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||estimated
current value to the|charity
is11.The building
i|s held for charitable
activities
an|d held at cost.|
|---|---|---|---|---|
||||2021|2020|
|(c)|LAND AT BILLING ROAD||||
||Cost at I April 2020 and 31 March 2021||1,064,468|1,064,468|
||The land is held for charitable|activities.|||
|(d)|SPORTS HALL||||
||Value at I April 2020||I 439 158|I 439 158|
||Additions||||
||Value at 31 March 2021||1,439,158|1,439,158|
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|FOR|THE YEAR ENDED|THE YEAR ENDED|31MARCH 2021|31MARCH 2021|||
|---|---|---|---|---|---|---|
||||||2021|2020|
|3.|OTHER TRADING ACTIVITIES||||||
||Propertyincome||||||
||Rental income: unrestricted||||8,000|8,061|
||Rental income: restricted||||6,967|7,275|
||Other income||||||
||Promotion
agreement|funds|||5,000||
||||||9,967|15,336|
||investment income||||||
||Portfolio income (see|note|4)||328,654|393,968|
|4.|INVESTMENT INCOME||||2021|2020|
||Portfolio income||||||
||UK fond interest securities||||50,736|65,581|
||Non UKfeed interest|securities|||24,754|15,476|
||UK equities
—income||||156,284|148,745|
||Non UK equities - income||||96,682|162,413|
||Interest on uninvested|cash|||198|1,753|
||||||328,654|393,968|
||Restricted||||5$48|8350|
||Unmstricted||||323,406|385,718|
||||||328,654|393,968|
|5.|EKPENDITUREON|RAISING||PIJNDS|2021|2020|
|||||||8|
||Rent collection and associated|||;restricted|6,039|4,910|
||property costs||||||
||investment
management||fees|endowment|44,639|41,439|
|||||:restricted|893|640|
||||||51,571|46,989|
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|6.|CHARITABLE ACTI|VITIE|S|- UNRESTRICTED|||
|---|---|---|---|---|---|---|
||||||2021|2020|
|||||||I|
||Special Donations - "September|||2004 Structure"|225,000|300,000|
||OTHER DONATIONS/EXPENSES||||||
||School grant||||7,500|236,335|
||Travel costs|||||5,602|
||||||232,500|541,937|
|7.|CHARITABLE ACTIVITIES -RESTRICTED||||2021|2020|
||Northampton
Freemans|Trust|||100|100|
||Blue Coat Educational|Charity|||2.025|3,525|
||||||2,125|3,625|
|8.|CHARITABLE ACTIVITIES - GOVERNANCE COSTS||||2021|2020|
||Clerk's fees - unrestricted||||16,335|13,625|
||-endowment||||16,335|4,000|
||Audit fees - unrestricted||||10,100|9,900|
||Legal and other professional||fees - unrestricted||8,841|4,800|
|||||- endowment|11,841|26,730|
||||||63,452|59,055|
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|INVESTMENTS|||||
|---|---|---|---|---|
||Restricted|Endowment|||
||Funds
E|FundsI|Total|2020|
|Market value at I April 2020|115,852|7,933,062|8,048,914|9,456,814|
|Acquisitions|64,269|2,171,356|2,235,625|2,011,279|
|Disposal proceeds|(57,483)|(2,559,632)|(2,617,115)|(2,154,087)|
|Net investment
gains /(losses)|26,884|1,716,431|1,743,315|( 1,265,092)|
|Market value at31 March 2021|149,522|9,261,217|9,410,739|8,048,914|
|Uninvested
cash|6,664|299,805|306,469|165,108|
||156,186|9,561,022|9,717,208|8,214,022|
|Investments
at market value comprise:|||||
|UK Equities|||3,862,967|3,134,212|
|Non UK Equities|||3,909,124|2,555,123|
|UK Fixed interest Securities|||1,145,250|1,665,843|
|Non UK Fixed Interest Securities|||493,398|693,736|
|Uninvested
cash|||306,469|165,108|
||||9,717,208|8,214,022|
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|12.|DEBTORS,|PREP|AYMENTS|AND ACCRUED INCOME|||
|---|---|---|---|---|---|---|
||||||2021|2020|
||Other debtors||||6,900|7,275|
||||||6,900|7,275|
|13.|CREDITORS AND ACCRUED CHARGES||||||
||||||2021|2020|
||Costs ofgenerating||funds||11,700|11,700|
||Management|and administration||expenses|13,475|13,170|
||Grants payable: restricted||||2,125|3,625|
||||||27,300|28,495|
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|FOR|THE YEAR ENDED 31MA|THE YEAR ENDED 31MA|RCH|2021|||
|---|---|---|---|---|---|---|
|14.|BUILDING FUND||||2021|2020|
||Balance|at beginning ofyear|||2,503,626|2,503,626|
||Transfers|into the fund|||||
||Balance|at end ofyear|||2,503,626|2,503,626|
||Relating|to:-|||||
||Acquisition ofland at Billing Road facilitated|||by mortgage|||
||of6850,000 which became fully repaid||in year|1999/2000|1,064,468|1,064,468|
||Costs of|building
the Sports Hall ofwhich 61,000,000 was|||||
||financed|by a loan from the endowment|fund||1,308,040|1,308,040|
||Sports hall property
improvements||||131,118|131,118|
||||||2,503,626|2,503,626|
##
|Fund bala|nces
at 31 March 202|1 are represented|by;||||||
|---|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Buildings|Windfall|Astro|Total|
|||Fund|Fund|Fund|Fund|Grant Fund|Turf Fund|Funds|
|||||||8|||
|Tangible|fixed assets||590,250|420,002|2,503,626|||3,513,878|
|Investments
Net current assets/(liabilities)||11,350|156,186
~i02
D|9,561,022
( 371,212)||4|30|9,717,208
329,902|
|Total Net|Assets|711,350|736,166|9,609,812|2,503,626|4|30|13,560,988|
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|OPERATING ACTIVI|TIES|||
|---|---|---|---|
|||2021|2020|
|Net movement
in funds||I 742 288|(1 507 394)|
|Deduct dividend
income|from investment|(328,654)|(393,968)|
|Deduct property
income|from investment|(14,967)|(15,336)|
|Add/(deduct)
losses/(gains)
on investments||(1,743,315)|1,265,091|
|Decrease/(increase)
in debtors||375|(4,200)|
|Decrease in creditors||(1,195)|(2,008)|
|Net cash used in operating
activities||(345,468)|(657,815)|
|ANALYSIS OF CASH|AND CASH EQUIVALENTS|||
|||2021|2020|
||||8|
|Cash at bank and in hand||350,302|112,020|
|Unexpended
investment|cash|306,469|165,108|
|Total cash and cash equivalents||656,771|277,128|