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2023-03-31-accounts
|
Pages |
Pages |
| Directors, officers and advisers |
1 |
|
| Directors’ report |
2 - |
6 |
| Auditors’report |
7 - |
10 |
| Statement of financial activities |
11 |
|
| Income and expenditure account |
12 |
|
| Balance sheet |
13 |
|
| Notes to the financial statements |
14 - |
19 |
| Directors |
Ms Deborah Hollister |
(Chairman) |
| and Trustees |
H R AAnderson |
|
|
D T A Boyle |
(Resigned 27 September 2023) |
|
RAD Cowlin |
|
|
Mrs Deborah Reed |
|
|
B Salmon |
|
|
Ms Moira Usher |
|
| Secretary |
Mrs Verity Barclay |
|
| Registered Office |
820 The Crescent |
|
|
Colchester Business Park |
|
|
Colchester |
|
|
Essex |
|
|
C04 9YQ |
|
| Registered Number |
Company 00183411 |
|
|
Charity
310038 |
|
| Auditors |
SB Audit LLP |
|
|
820 The Crescent |
|
|
Colchester Business Park |
|
|
Colchester |
|
|
Essex |
|
|
C049YQ |
|
| Bankers |
CAF Bank Ltd |
|
|
25 Kings Hill Avenue |
|
|
Kings Hill |
|
|
West Mailing |
|
|
Kent ME19 4JQ |
|
| Solicitors |
Birkett Long LLP |
|
|
Faviell House |
|
|
1 Coval Wells |
|
|
Chelmsford |
|
|
Essex |
|
|
CM1 1WZ |
|
| Investment Advisers |
Investec Wealth and Investment Limited |
|
|
30 Gresham Street |
|
|
London |
|
|
EC2V 7QN |
|
| Beaumont School |
£1,046 |
| BOSP (Brighter Opportunities for Special |
£10,145 |
| People) |
|
| Frozen Light |
£3,000 |
| Happy Hill |
£4,322 |
| IPSEA |
£10,000 |
| Market Field Farm |
£15,000 |
| PLOT CIC |
£4,533 |
| Shine |
£2,500 |
| SNAP |
£2,000 |
| Southend Mencap |
£3,500 |
| St Ivo Academy (Astrea) |
£15,180 |
| Tracks Autism |
£8,424 |
|
£79,650 |
| Capital Grants included the following: |
|
| Castledon School |
£85,143 |
| Centre School (Astrea Academy) |
£100,000 |
| Clare School |
£115,000 |
| Colnbrook School |
£120,000 |
| Thomas Wolsey School |
£128,400 |
|
£548,543 |
|
|
Unrestricted |
Unrestricted |
|
Notes |
funds |
funds |
|
|
2023 |
2022 |
|
|
£ |
£ |
| Income |
|
|
|
| Income from investments |
|
99,339 |
66,616 |
| Total income |
|
99,339 |
66,616 |
| Expenditure |
|
|
|
| Grants payable in furtherance of the Charity’s objects |
8 |
720,570 |
188,453 |
| Cost of grant making |
9 |
4,712 |
3,979 |
| Management and administration costs |
10 |
60,249 |
68,398 |
| Total expenditure |
|
785,531 |
260,830 |
| Net realised and unrealised investment (losses)/gains |
|
(710,730) |
374,922 |
| Net movement in funds |
3 |
(1,396,922) |
180,708 |
| Total funds brought forward at 1 April 2022 |
|
5,595,409 |
5,414,701 |
| Total funds carried forward at 31 March 2023 |
|
4,198,487 |
5,595,409 |
|
Note |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
| Gross income |
|
99,339 |
66,616 |
| Total expenditure |
|
785,531 |
260,830 |
| Net expenditure before fixed asset disposal |
|
(686,192) |
(194,214) |
| Realised (loss)/profit on sale of investments |
|
(17,250) |
83,576 |
| Net expenditure for the financial year |
3 |
£(703,442) |
£(110,638) |
|
Notes |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
| Fixed assets |
|
|
|
| Investment properties |
4 |
103,500 |
103,500 |
| Other investments |
5 |
4,330,669 |
5,483,649 |
|
|
4,434,169 |
5,587,149 |
| Current assets |
|
|
|
| Debtors |
6 |
526 |
526 |
| Cash at bank and in hand |
|
392,910 |
329,781 |
|
|
393,436 |
330,307 |
| Creditors: amounts falling due |
|
|
|
| within one year |
7 |
(629,118) |
(322,047) |
| Net current assets |
|
(235,682) |
8,260 |
| Total net assets |
|
£4,198,487 |
£5,595,409 |
| Funds |
|
|
|
| Unrestricted funds - includes revaluation reserve of |
|
|
|
| £1,248,753 (2022 : £ 2,097,205) |
11 |
£4,198,487 |
£5,595,409 |
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Auditors’ remuneration: in respect of audit services |
5,107 |
4,563 |
| 4 |
FIXED ASSETS - INVESTMENT PROPERTIES |
|
|
|
Investment |
|
property |
|
£ |
| Cost or valuation |
|
| At 1 April 2022 |
103,500 |
| Valuation at 31 March 2023 |
103,500 |
| Net book values |
|
| At 31 March 2023 |
103,500 |
| At 31 March 2022 |
£ 103,500 |
|
2023 |
2022 |
|
£ |
£ |
| Listed investments: |
|
|
| Market value at 1 April |
5,483,649 |
5,119,312 |
| Additions |
- |
702,680 |
| Disposals |
(459,500) |
(629,689) |
| Net unrealised investment (losses)/gains |
(693,480) |
291,346 |
| Market value of listed investments at 31 March |
£4,330,669 |
£5,483,649 |
| Historical cost at 31 March |
£3,178,166 |
£3,482,694 |
|
2023 |
2022 |
|
£ |
£ |
| Listed investments at market value consist of the following: |
|
|
| International equities |
|
|
| Herald Investment Trust |
490,523 |
529,932 |
| Scottish Mortgage Investment Trust |
689,626 |
1,041,903 |
| Witan InvestmentTrust |
- |
459,500 |
| Fundsmith |
1,268,550 |
1,244,790 |
| HG Capital |
465,962 |
592,209 |
| Blackrock World Mining Trust |
465,624 |
517,824 |
| Property |
|
|
| The Charities Property Fund |
950,384 |
1,097,491 |
|
£4,330,669 |
£5,483,649 |
| DEBTORS |
|
|
|
2023 |
2022 |
| Prepayments |
£526 |
£526 |
|
2023 |
2022 |
|
£ |
£ |
| Other creditors |
449,118 |
142,047 |
| Government grants |
180,000 |
180,000 |
|
£629,118 |
£322,047 |
|
2023 |
2022 |
| Consultancy and travel expenses in relation |
|
|
| to grants payable |
£4,712 |
£3,979 |
| MANAGEMENT AND ADMINISTRATION COSTS |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Legal and professional fees and related claims |
58,440 |
66,826 |
| Bank charges and interest |
100 |
110 |
| Office costs |
1,709 |
1,462 |
|
£60,249 |
£ 68,398 |
|
|
1 April |
Other |
31 March |
|
|
2022 |
movements |
2023 |
| Other reserves |
**£ ** |
**5,595,409 ** |
£(1,396,922) |
£4,198,487 |
|
2023 |
2022 |
| Financial assets |
|
|
| Financial assets measured at fair value |
£4,330,669 |
£5,483,649 |
|
2023 |
2022 |
| Financial liabilities |
|
|
| Financial liabilities measured at amortised cost |
£629,118 |
£322,047 |