Ch8rity R•gi$tration No. 310492 NORTHGATE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
NORTHGATE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trnsts•• MrAJ Gllknple Mrs J Rley Mr J Norman Mr D Bèvan Cllr C Chambers Mrs J Parry Charlty numb•r 310492 PrIncI1 addr•¥$ PO Box 979 Ipswlch Suffolk IP9 2WH Independent •x•min•r Helen Rumsey FCA Ensors Accountants LLP c908 159 Prknces Stregt Ipswch Suffolk IPI 1QJ B•nk•Ys National INesknin8ter B8nk Pk 2 Tavem Street Ipswlch IP13BD
NORTHGATE FOUNDATION CONTENTS Tru$t¢as' raport Independent aMInerS r¢port ststemenl of flnawal actfvhles Bglance sheet Notes to thè accounts 6-15
NORTHGATE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 The tru8tte8 pre88nt thr repryt and acwjnts for the year ended 31 March 2022. The accounts have b88n prnpar8d in ¥co)rdance with tho aLxountirg polld8s sèt out in note 1 to the •¢counts aTrJ cornply with th8 charfty's govenlNJ do¢um¥nL th ChorS110$ Act 2011 and the Ststement 0fR0M¢ndfjd Pr8¢lt%8pplicable to charities preparing theirarLounts in accordance with FRS102 Ihefinancial reForting standard In the UK and Republlc of Ireland- updated 1 January 2019. Obj•di and actlvltles The objects ofthe tharity arpto prDmote Ihe UcatiOn of persons under the age of 25 who are in need of financial asl$lan¢e and ar8 wdent in e¢ havè attended a ¢>xnmunty, voluntary or f¢JJndation sch¢)ol in Suffolk. The trustees hove pald du• rngard to guid8n¢ i$$u•d by th¥ Chority Commissim in d•tydTrig vth•t •thili85 the charity shtlIj undertako. The truste88 Confimi that they have referred to Ihe guidaft contsined in thè Charity commion'5 general guldon¢a on publk benefit when eNIng Ihe charity'8 aim8 and obled19. when plannlrg future athities aTrd wknen settlng the grdnl maklng Follw for ts yoar. A¢hl•vomgnts and pgrf0Mn Thg obleds ofthe chartty are to proffK)t6 the education ofp6r8on8 underthe age of 25 who are in newj of finandal assIStsn and are ie$pJenl in or atten¢J or h¥v& attondod a community. voluntsry or foundation 8¢hool in the area of benefil in particular bjt wthout limitation through the prowsion ot. . Grants tenabb at any sth¢d, w)iwrwty, collBge of eduratK>n, or oth¥ insbtubon of fvrther education linduding professional or technicall.. or Equlpment or b()k$ to assist such rgOn$ to purnue thelr wjucation linduding Ihe 8bJdy of mu51c and other arts. sport. sooal and physcal educationl, to und&rtake travel in furthwic U)ereof, or to prepare fcf or enter a prOfec. trade. occupation or seThice on kaving sthool, univeTsty or 0th8r 8ducats.onal g$tabli4)ment: or . Such Items and servtce$ or speckl benoffts for whk prOt)n Is not mode from wbll¢ fvThJs for gny communty, voluntary or foundation school in the area of benefit. Flnancial roviow It 1$ the polloy of the charlty thal unrestslctI fund8 whlch have not begn d6slgnaled for a speufic use should be malntaln&J at a le1 oqulvalont to bofy4wn three and slx mfmth¥ •xp8ndlluTg. Tho trust conskler that reseNe8 at thi$1o¥tr1 will ansuro th81, in the event of a gnI)Icant dp in funding, they will be atAe to o)ntinue the charityb current advltles vthlla congd¥rntion giv to wgys in whld) 8ddthonal funds m8y b9 ralsod. This bvel of rvJerves ha5 rna1ntn throughout the year. A proportion of the charity's unrestricted funds ar8 also investad In ffixad at invèstmants whid) providè addibonal Invèstmènt incomè for thè charfty. For the year ended 31 March 2022 the charlty recorded an ov8rall surplus of £90.913 {2021'. Surplus of £197.0931, meaning that the overall fvnds ofthe charfty have increased from WJ1.318 to £1.082231. The urtrestric reseNes of th& th?rFiy hgvg In¢aSd from £315,187 to£347,7Tg. The tru8tses hava a888Ssed the map)r risks to which the charity Is exposed and are sati3figJ that the ¢arity Is wel placed for fij[8 devglopmgnl and that systthns are kn place to mwgate exposuro to ony malor rfsks thatth& charity may face. Golng concern During the y88r thè Charity h8s been able to provide a greater level of grants compared to PTe%*iOUS years. There was a sgnSflcant rgdudon In grants paid in Ihs priorye8r. whith w8s a direct resutt oftho COVID-19 pandem1¢ as many school trips and dubs had to be cancelk8d. The charitys inv8s1menls hav8 provhled a pos¥8 relum again and thè Statèmwt of Flnandal AthIUe8 8hLWS an overall surF4u8 for the ar of £,913. The E¥)$¥• porf¢mance of tho ¢h¥rity's investments and the Strong Teseryes 11 allows the Trustees lo feel wdl placed to LYJnlinu¥ supporbng ywng in education thrc4J9hout Sulfolk. On this basis. th• TrusteB3 a conffident that the charity is still considered a going concem.
NORTHGATE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2022 Structurnp gov•manc• and man#g•m•nt The ¢harity is constituted as an unincorporat1 chority and is r•siStered wth the Charity Comm[On In the Unlled Kiwd(Nn. The charity was e8lablished by a tharitsble tsust deed on 23 N)rll 1968 8nd 18 govemed ty a $therr of thg Ch?rty CoDwnission datg1120 Decombor 2004 88 amended by a resdutk)n datsd 9 May 2012. The Truste8s vtho wved durln9 the year were: MrA J Gillespie J Riley Mr J Norman Mr D Ban Mr3 J Pary Cllr C ChaMry The Board Consists of 2 Nominated Tnjstees 4 Co-opi¥d Trustses. The Trusiees of the Northgale Foun(Jation am respon8lble forth6 appointrnent of Coted Trustees. The Trustees listed below were appolnted by the followong bc#Jles. Clr C Chambers Mrs J Parry Suftolk County cnri1 Ipswich Borcyjgh CouncTI Statement of trustees. responslbllltles The Iru8tee3 aTr re¥pon3ible for preparing the Trustees, Report and tho accounts In ?rdance appllcabb 18w and Unlted Kwigdom A¢ts)unting Standards (United KtYJdom G•nerally Accepted Accounong Pra1. The law ap1b to charfuès in England and Wales requires the tNste&s to kYep8re 8cwJnts tjr each finanaal year 4th1ch give a tru9 and fair 6W of the $18ts of aff8lrs of the tharity arbj of the Incomlro rwJource$ and appcation of resources of the charity for that year. In preparfng these aCrunts, the trusto85 are ra]ulrgJ to: - select suitablè ac¢trJntiw pIGh?8 and then apply them conslslenJy' . observe the methojs and prin¢ipl&$ in the Charities SORP., - moke Sudgements and esfjmates that are reasonable )d prndent., - Statewhelher applicablgaccountlng standards have bgen folkyg(l. sublecl b)any malerfal depathresdlsckts8(1 explalned in the occounts., and - prepar& the acnts on thè golng cg)nean basis unles6 it 16 [napprIate to prewme that Ihe charity wll ntlnue In operauon. The trustses are TesFJn&b18 for keeplng 9Jfflcnt AccountlThJ reo)rd8 that di8do8e with reaBonable a¢¢ur4cy at any tim• tha financial position of lh¢ tharity and enable Ihem lo engjre that the accounts comFly wlth th8 Charities Ad 2011. the Charity (Accounts and Reports> Regulations 2008 and Ihe proisons of Ihe trust da•d. They are also responslble for safwJuarding Ihe assets of the charity aThJ hence tr tokln9 reasonable slep8 for the preventbn and detedton of froud and other Irrggularilles. The trustees, rewt was aFfsrov8d by th• Board of TW$1&. Rlley Trustee Datsd: 6th October 2022
NORTHGATE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHGATE FOUNDATION I repcyt to tho tNSteos on my examlnatbn of tho aco)unts of Northgato F¢wrKlatkn1thg Chartty) for thg ygar ended 31 Marth 2022. Rospon$lbllStl•s and basls of r•port AS the trustee8 of tho Charlty you arg rasponslble for the preparatK)n ofthe a(>)Junts kn accordanca wlth the requirements of the Charities Act 2011 Clhe Atl. I report In respect of my examlnation oflhe Ch1$ accounls carrl8d out under $ecfj¢)n 145 ofthe 2011 Ad and in carying out rny examinalicn I have fDlIuwI 811 tho applicable Oirections gven by the Charity Commlsslon under sactk)n 14515Xbl of the Acl. knd•pnd•rtox•mlMrf$ st•tsmeTht I have ccfflpleted my examination. I confim that no matsrfal m8tt8rs havè o)ma to my atttion in eonrnction with the examknalhjn glvlrMJ me cause to beIve that In any matwial res 8tcx)unting rrdS wÈrn not kèpt in rnspt of the Chorfty as r¢qulr&J by 8e¢in 130 of the Ad; or 2. Ihe accounts do not accord wlth those records; or 3. tha acwurbts do not compty wlth the apFlicable TBqulrements nCernIng tho fom) and ntsrtI of ac1unIS set out in the Charities IAccounts and Reports) Regulalion3 2(M)8 otherthan ary r¥quir•nI that th• g¢counts giva 8.trug and fair which is nol a matter considered as part of an independent examination. I havg conc4ms and havg Gomg across rKJ olher matters In tsJnne¢lion wilh tho ex8minath?n to whith ¥tlonUon should b? drnwn in thi$ r•F¢rt in ordw to a proper understanding of the accKunts to be Ched. Helen Rumsey FCA EnEors ACCOtrnts LLP c(neon$ 159 Prfntès Streat 1pch Suffolk IP1 1QJ 7th October 2022
NORTHGATE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Unr•stri¢t•d Rvstrithd Endowment funds fund$ fund Total 2022 Total 2021 Re1Ved from Ipg*lch School Investments 17,397 28.372 17397 26,614 20.864 26.0¥2 243 Other Income Total Incom• 43,789 243 44.012 47,006 Charitable advltleB 30.191 30,191 2.892 Nèt gainsllbsso$} on Investments 19.014 709 57,369 77,092 152,979 Net mov•ment In funds 57.369 90813 197.093 Fund balanG9s at 1 Aprfl 2021 315,187 11,389 e64,742 991,318 794.225 Fund tsalanC at 31 March 2022 347,779 12.341 722,111 1.082,231 991,318
NORTHGATE FOUNDATION BALANCE SHEEr ASAT 31 MARCH 2022 2022 2021 Flxtd assets Taroibl8 assets Investments 10 11 970,370 893,277 970.370 893,277 Currnt aswls Dèbtors Cath 81 bank and In hand 12 151 101.010 113,409 113.571 101.161 Crodltors: am¢)unts fallSng due wlthln on• year 13 11.710) (3,120) N•t rren¢ assets 111.861 98,041 T(al a8Mts 1088 currgnt Ilabllltl 1,082231 991.318 Capltal fund$ Encknfflnt funds - gen9rn1 Incomo funds Re5tr1cted fvnds Unreslricted fvnds 15 722.111 664,742 16 12,341 347,779 11.389 315,187 1.082231 991.318 6th October 2022 nts wwe approved by tha TNslegs On ........ Riloy Trugt•a MrJ No Trusts•
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 A¢countlng polklo8 1.1 A¢¢ountin9 conv•ntion These aCCnts have been prepar&Y in tLcordance with The FInal81 R?porling Stsndard applicable In Ihe UK 8fKJ R8public of Ireland" I"FRS 102.1, "Accounting and Rerting by Ch8rfJes' the Statement of RMmendad Pracllce for eharlti8s ¥JplyÉng FRS 102. the Charities Act 2011 and UK Generally Acwted Acccyjnling Pradce as it aFpJi8s from Octob8r2019. Th& ¢haJity is a Publlc Bpnefft Entity a5 defingd byFRS 102. Tha havg bon under tho historical wsl convenuon, modlffied lo indude the revalu81i)n ol certaln fixed assets. The prlncipal occountirg polkiès adoptsd are Set out below. Th& finand81 ststements ara prepared In SteIng, whkh Is 1ha fundlonal currency of the charity. Monetsry amounts in these financial stst8ments aro rounded lo th• nearest pound. The finon¢io1 $t8tsmgnts have bgen prepared 10 9fve a'true and falrf vl&w and hav8 doparted from the Charftl88 IAccoun15 and Reports) Regulations 2008 onty lo the extent requwed to provide a 'tNe and fair vigw.. This departure has invofved folltywing A¢¢ounthng and Reporting by CharTiies: Statemant of ReLxYnmnded Practice applicable to charIt$ preparfng the4r ffinandal stat8m8nts in o¢r))rdan wrth the Finanaal ReportiwJ Stsndard applicab the UK and Republic of Ireland IFRS 1021, ratherthan the Accounlng and Reporting by Charibes- Stat8nt of Reu)mmèn(J8d Pr8cb"cs eff8cva from 1 April 2005 whith has since b88n wthdrawn. 12 Golng concorn At Ihe Ume of approvSng the aunts. tho trustees have a reasonab $xpscalion that the tharity hag •d•quate re¥ources to continue in operabonal existenrk for the foreseeable fvlur¥. 1.3 Charttabl• funds Unresfficted funds are aval)18 for u8a at the discrelon of tho trustse8 in furtheronee of tholr charftsble oi¥ecOves unless the fvnds havo been delgnated for other purposes. Restsicted fijnds are subject to spwfic C11t$ by donors os to how they may be uJ. The purposes uses of the restricted funds are 8et ¢yJI In the notes to the acwunts. Pemian&)t endowment lunds have teen pmwded to the charfty to onwr8 a 8uitsble incom• str8am to finan the oroolng a¢1183 of the charity. Detsil$ of th• and wrpos8 of each fund is Bet OLrt in Th)tes 15 and 16. 1.4 Incomlng rosourcos Donations, IwJaoes 8nd oth&r fom8 of voluntary incomo are reccJnl8ed as Incomlng resou5 when receNable, except insofar as they are incapable of financkil measurement. Investsnent Income is IndUd whan recivable. Unrealised g8hs ar8 Included on the bottcffl of the Stslemgnt of Financwl Acti¥e3 as an unrealised MOVenI. 1.5 R•soure•s •xp•nd•d Expendiknre Is recognls8d an xcwals basls. Expendlbjre Indudos any VAT whith (3nnot be c0Vu and is rnporteil as part of th• ¥xp8ndilurv to whi¢h il relateB.
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED> FOR THE YEAR ENDED 31 MARCH 2022 Accountlng pollcles IC¢ntinu•d} 1.fj Tanglble fixed a$¥etB TorrfJible a&8ets a Inibally m&a8ured at rmt and subsequBth measurnd at ¢x valuotkn, ngt of dopredation and any impalmi¢nl Iossos. Deprecaation is recognlsed so as to wrfle off the o)6t or valuallm of a88ets 1888 tholr r8sthal valu8s over their useful Ilvos on th8 followng bases.. Ccfflputer Equipment 4 yests strah3ht line be3 The galn or k)ss on thg dlsposal of on asset 55 detsrmined •$ th• diff8r8nce bthn ts ¥ale prcwds and the carying value of Ihe a88et and 1$ rn¢cgnlsed in net incomellexpèndbtur8) for the year. 1.7 FSxed a8Ut Inv•8tmonts Investrnents a Sts1 In ihe Balance Sheet al thèir m8rt(el value ot the bolanc8 she81 date. 1 gains and )998s artsing from Investment chawJes or revaluatkn aro shown In the Slatemonl of FSnanclal Activilies. ReaSed gains and Ictrsses on invoslments are calculated 85 the dIrent£ the disposal proceed3 8nd either pur¢hase cost {for Djrrentyear acquitionS) ormart(el valua att stsrtof thè yèar Iforirwestrnents acqulred in preou3 year81. 1.8 Flnncial In8trum•nts The carity hasdect&J toapplythe prowsions ofsodon 11 'Basic Finala1 Instruménts, and Section 12'0ther Finanoal Ins1rumènts Issues. of FRS 102 to all of its finanrdal Instruments. Fiarla1 Instruments are reuJgnBed In the tharlty's baLance she8t when the tharfty becomes paty to the ntraCtual provision3 of the instrumL Finandal as881s and li8bilitig¥ arp offsot. wilh the net amounts presented i) the finan¢lal statements. when theTe a legally enfor(able rwt to setoff the recoanised amounts and therè Is an intention to seth on a net basis orto realise the asset and Settle Ihe 4ablllty slmutt9ruSty. Bask flnanchl ass•t¥ Badc linanaal assets, whlch Indude debtors cash ond bank balanchs. are inrbally me88ured attr4ns@th¢)n pri¢0 indurfiro transaction ¢)xts and are 3ub3equenUy corried al amortised cost us1j the eff8cllvg Int8r8St method unless the 8rrang8Thnt conslltules a financirvJ transaclion, where the transoctlon Is measured al tr present valle of the fijture receipts dIScted at a market ratg of intOfgSt. Flnandal assets d•sslfifjd as r1Vable wlthln one yeaT are not amorti. Baslc IlnJn¢l•lKabllltl•s Ba$c finanual liabilities, induding creditorn and bank loans are initsalty recoJnised at tsn88Ctlon prtce unbess the arrangèment¢onsUtut8S 8 flnancng transact, where the debt Snstrument18 mgosure at the pres8nl ¥ae of Ihe future poyments dIsCoun at a market rate of inleresl. Flnandal Ilablltles da55ified as payabla wilhin ong year are not amorbs•d. Debt instrumènts are 8ub8eqwfjy ¢arrfed at amortlsed cc61, th8 aff18 Intorost rote metr. Trade Credito are obligaUon$ to pay for grKds or serVe5 that hav¥ b$8n acquired in the OTdinary ¢vr3e of op8raUonslrom spIlerS. Amounts pay#b $ elasslfied as cuThent liabilities ifpaymentlsduewlthln one yeor or less. If not. they psented os non-current liabilities. Trade credit8 are r9cc4Jnlsad initHIty attrarBadl PriL and subgequenuy meosured at amortlsed cost using the efflIve intorest raie meth. 1.9 Grants payablo Grants for charltabla purposes are reL¥)gnis&J when the offer Is wweyed to the Tedpknl exc4t In those cases where the offer Is rLsndlUonal. Buth gr3nts ¥rg rgnIsed as exp8ndlture when the condlucns attathgd are fulfilled.
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounllng pollcles ICorrtlnu•d 1.10 Impalmxnt offlx•d assets Ateach roporling end date. the charity r8v18ws th• ¢8rryiNJ Ymuntsofitstangible assets todelgmilno wh91her there is any ind1¢a0Th that those assèts have gjffered an impaim)ent loss. If any such indication exists, Ihe re0)Verab arUnt of the 8ssel18 eslmated in cvder to dttennine the extent of the Impairment k)ss Ilf any}. Whwe ft is not P05slble to e5tlmate the rgcoverablg amount of an indivKlu¥l a88el, the tharity estimates the recoverable amount of the rA8h4Jenerating unit to which tha at balongs. 1.11 Cash at b¥nk and In hand Ca8h at bank and In hand are ba¢ flnand81 asset8 indudè cash in hand. dewslts wlth banks and other 8hct4em IKJuid Investsnents origlnal malurfbes of three monlhs or less. 1.12 Taxation The ¢harfty Is oxompt from corptxatlcfi tax cfi ¢h8ritable acliwthes. 1.13 Employm bgn•fits The eosts ofshort-tsmi employee b8n•fits or¢ w¢>3ni¥ed 85 a baknlity and an expense. unless those o)sts ¥r8 roquired to be rnIsed as part of the cost of siock orffixed 8ssets. The cost of any unused holiday enlillement is reccgnlsed in the in vthich the employee's swvices aro rerBived. Ternilnatrjn beneffts are re¢¢gnlsed Immedlalety as an exp86 when the charity is demonstrabty ojmmitt to tgm)Inate gmk4oymgnt of an employ09 tyto provKJ&1ominalion benefft& Crltlcal a¢¢ountlng t8tlmat¢8 and Judymènts In the application ofthe tharity's aczountirvj polirAes. the trustees ar8 required to makejudgemenls, e5timate3 8&8umptlons ab(xrt the catyng arnounl of assets and liabilities that Bre N)t roadily apparent from other 8ourc8s. The asllmates and aSetad 888ump14ons are based on historirAI experf8re and othorfactors that are considered to be relevant. Adual resulls may dlffor from thfjso esOmate$. Tha &sttmat•s and undartying assuwtions arn rtrvww on an orvJoing basls. RevIsIc$ to accounthng estlmates are recognld In the perk)d in whr¢h the estimate is raMse£J wre the revision affects only that p10d, or in lh6 riod of Iho rlSon ar*J lulure p8ri0ds 8[¢ th¢ r8wslm affects ty)th fr[ent and frjlure porf¢iJs.
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Income frorn Ipswlch School Unr•strfct•d RtrIct•d funds funds Totsl 2022 Total 2021 Income from Ipswich S¢hc¢4 17.397 17,397 20,804 17a97 17,397 20,864 For the yr •nd•d 31 March 2021 20.8fj4 20.864 Investment Income Unre•trlthd R•strkt•d fund8 fund8 Total 2022 Total 2021 Incune from listed InV*nts 28,372 243 26,614 28.092 28.372 243 26.614 26,092 For the yow ended 31 March 2021 25.853 239 26,092
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charftabl• activltles Grants payable Support Total 2022 Total 2021 Grant fundiNJ of acbviti¢$1$90 not¢ 6) Shwe of support cosl$18ee nots 7) 26206 28.2 14201 2,275 2,275 1,721 Share ofgmmanr% costs1598 note 7) 1,710 1.710 1.591 26206 30.191 An¥r3 byfund Vnrestricted furKJs Restricted fund$ 26.206 30.191 26206 3,985 30,191 For thè ytar ended 31 March 2021 Unrestricted funds Reslrfrted funds {420) 3,312 2.892 {420} 3,312 2.892 Grants payabl• 20r2 2021 Grants to indiwduals- 1519rants12021- 1) 2e208 1420} 26,206 {4201 R•conclllatlon of grants pyabl• 2022 2021 Commitment at 31 Marth 2021 Commliments mad9 In Ihg ygar Grants pold durfng the year Grants can(lbd during the ye8r Comnltments at 31 Marth 2022 26,206 126.208} (4201 (5801 420 10
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Support costs Support Govgmance costJ 2022 2021 B¥¥is of •llocatSon staff Costs 428 Direct Administration Insur8n¢o Examinathon fees Payroll 945 638 945 836 1,710 S03 Dir8¢t 59B Dlrect 1,591 Dlr9Ct 192 Dir•¢t 1,710 2,275 1,710 3,965 3,312 Tru8t••s Ncne of the truste68 lor any per& nneCt with th8ml Tecelved any r•mun8ratlon or reimbur8ed oxpenses dudng thls year or th• prior y8ar. Employ• Number of employ••$ The averago monthty number of •mployaes duriThJ the year was: 2022 Nurnb•r 2021 Numb•r Employrnnt costs Wages and 8alari88 428 Thgre were no nployeeS remuneration £80.000 or more during 2022 or 2021.
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 10 T•nglble flxod 90 Ctynputsr Ewipme Cost At 1 Aprfl 2021 At 31 March 2022 329 D•pr•¢latlon and Impalrmfrnt Al 1 April 2021 329 At 31 March 2022 329 Carrylng amount At 31 March 2021 At 31 Marth 2022 11 Flx•d 888èt Inve8tmenls V¥lu•tion At 31 March 2021 ValL110n ¢*anges 893,277 77.092 At 31 March 2022 970,370 HlstOTkal cost.. At 31 March 2022 438.895 Al 31 March 2021 438.895 Investm•nt d•tall8: Endowad Unrestricted Restrtcted 722.111 239,325 8,933 970,370 Inv8strn8nts as at 31 Marth 2022 and 2021 conslst tIrelY of COIF In¥trni FuThls. 12
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2022 12 Dobt 2022 2021 Amount8 falllng due wlthln on• y•8r: Prnpaym•nts and accrued income 162 151 13 Cr•dltoYs: amounts falling du• wlthln on• yoar 2022 2021 AlusI$ and dèfer Inwme 1,710 3,120 1,710 3.120 14 Analy4ls of n•t a•¥•ts b•tw••n funds Unrn8trict•d R•strkt•d Endvment Totsl Fund balances at 31 March 2022 are repre88nt8d by.. Tanglble assets Investrnents Current ass*1 Iliablllllosl 239,325 108,454 8.933 722,111 970,370 111.861 347,779 12,341 722,111 1.082.231 Unrestrlct•d R•8trid•d Endowm•nt Total Fund balances at 31 March 2021 are repreIed by: Tanglble ossots Investments Curr•rtt assetsl Iliabilitiesl 220,311 94,876 8224 3.165 684,742 893,277 98,041 315.187 11.389 664.742 991,318 13
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 1J Endment funds Uov•ment in funds Ineom• Expndlturo Unr•alls•d Balanco at 31 galnsl March 2022 {108so81 on Investments 38lanc• at 1 APTII 2021 Pemianent •ndowments Northgale Fund 864,742 57.369 722.111 864,742 57,369 722.111 The Endrjwment fund repre8onts those aSBets, whith must be hebj pgmwnenily by t charfty, prfndpally invesknents. IrKoma aridng tha 8nd(pMn8nl furKI can used in accordance wNh the objects of the tharity and 55 knduded as unrestricted income. kny galns or ljsses arLsing on the inveslments and legal advico rdolin9 to the furKI charged against the fund. Mov•m•nt in fund¥ Incom• Expendlturn Unre8ll¥•d B•lanco at 31 galnsl March 2021 (l¢xs•sl on nvostments Balance at 1 April 2020 P•miAn•nt •ndowm•nt8 Northgate Fund 550.901 113,841 664,742 550,901 113.841 664,742 14
NORTHGATE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 16 R•strlcl•d fund• The Inwme funds of the charfty Incl(tde restrfcted funds the following un8xpended bal8nce8 of donatIcS B grants held on trust for sperafic purposes: Movement In funds In¢om• ExndItre Balance at 1 April 1021 Unr•Alls•d Balance at 31 gaInsl{lo¢¥5} Mar¢h 2022 on Investsnents E Hayter Fund 11,389 243 709 12.341 The E H8yier Fund is 8 1og$cy ttl¥8¢1 towa(rJs the promolljn of music In small primary schools. Mov•m•nt In funthb Income ExpendltuY• Balanee at 1 Aprll 2020 Unro8lls•d B•18n¢• at 31 g•insl{loss•sl March 2021 on In81•13 E Haytgr Fund 9,742 1.408 11.389 17 R•l#l•d p4rt1o8 Thert have b•¢n no related p8rty transackns In thg ¢urrgnl orpdor year that require di5d0su. 15