THE FOUNDATION OF JOANNA SCOTT AND OTHERS ACCOUNTS Year ended 31st MARCH 2023 Charlty Reglstration No. 311253
HE FOUNDATION OF JOANNA SCOT ND OTHERS ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2023 NDEX Pag8 Indeppnd•nt mInerS report 8alanu 8he•l R•colptg and Paym•nts Not0$
NDENT EXAhllNER'S REPORT TO THE TRUSTEES OF DAT R THE YEAR NDED 31st MARCH 202 I report on the accoun18 of Ihg Trust for th8 year end8d 31st March 2023. whtch are sel out on poges 2 and 3. Respodlv• Y•sponslbllltle$ of tru$teg8 #nd ex*nMeT Th8 Ch8ri1rfs TrLths ala r8sponslb16 lor Ihg pr8paralon of the accounts. You Consider Ih81 en eudil 15 not I11¢d for Ihls year, lund8rsectlon 144121 of lh8 Charilte8 Act 2011 Ith8 Acti. 11 is my resrK)rhsiblllly to st8te, on the b8sis of procethjres sp8c5ned In the general dlrections gfvgn by the Chafily Commlssloners und8r S8con 14515llbl ollhe Acl, and 8ts18 whether rtIcUlar m8tt8rs have wme tts myetienllon. 80$18 of Indepandènt examkn•rfs stat•mgnt My oxamlnaih)n was cathod out In accordanc8 with the general dlTeGl¥)ns glvon by the Ch8rlty Commisslonars. An examlnatlon Includes o review of the accounting record$ kept bythe Cher5ty nd a cotnpari50n ol the accounts prÈs8nl8d wllh thos8 r8cords. It also includ8s eonsSderatlon of any unusual iterns or d>sclosure5 in the a¢¢ounts. and seeklng expl8n&tion8 from th6 truslaos Concernlng any such rnatlers. The procethJr66 underfaken do not provldo all the avld8rice that would be requlred in en 8udll, and wn88quèntly I do not expre88 an audlt oplnlon on Ihe 8ccounls. Indep•ndgnt examlneFS ststement In the COUfS8 of myexaminath)n. no mAtt8r has com& to my 8ttentlon'. 111 which gfvès m& rtsasonaN8 cause to believe Ihal In any matsdal respect the trusteos h8V8 not met th8 roqulfaments lo ensure that.. proper accounting rgcord8 are kept1Sn ac¢ordance wlth Sectlon 130 of the AGtI'. and 1111 prepare account3 which accord the aecounllng records and ¢Omplyhlh the ae¢ounting requirements ol the kl., or 121 to which, in Thy oplnion, atlgntion Shou b8 dr8wn oid8r lo 8 prop•1 underskndlng ol the BCGounls to bts rtrached. CH PHILL$ INDÈPENDENT ÈYAMINER PAGE 1
THE FOUNDATION OF JOAPINA SCOTT AND OTHERS NCE SHEET A ARCH 2023 2023 2022 INVESTMENTS at mart(st Volue Endownmenl prjrtrollo Charities Property fund Ro$grve inveslmtnl COIF Income unlts 3.052,701 46.571 57,974 3.296,648 53,778 60,232 Tot81 Investments 3.157.246 3,410,658 CURRENT ASSETS Cash ot bank. COIF and In hand 47,871 38,680 NET CURRENT ASSETS 3,205,117 .449,338 FUNDS Permanent Endowmonl Funds Goneral Fund 3,099,011 106,106 3,342,958 106,380 3,205.117 3.449,338 Tho ac¢ounl$ w¢re approved by the trustees on:. Dats 8nd signed on thelr behalf by Trustoo PAGE 2
THE FOUNDATION OF JOANNA SCO HE RECEIPTS and PAYMENTS FOR THE YEAR ENDED 31st MARCH 2023 2023 20Y2 INCOME Dlvidends and Interest Intere81 Grants returned l Not 18kan Grants received 71.759 73,393 300 830 Total Incomln9 f•sour¢os 72.059 74.023 EXPENDITURE Gfants for Individuals includlng uniforms Grants for Out of school activities and Trlps Grants for Organlsalions Other Grants Administratton 31.896 20,926 1,900 101 8,045 41,639 15.978 1.666 578 6,274 Total rn8¢urcfrs •xp•nded 62.868 66,135 Extsss of incom8118XP8ns8s} over expendilure 9,191 7,888 AT NCOME and EXPENDITURE 2023 2022 Current account 8t Catsr Allen 49,199 40,701 Less Transfer from Chadty Property Fund Less Unpresen1 ¢heques 1,328 47.871 2,021 38,680 COIF deFx>sit Cash In hand 3110312023 47,871 38,680 Cash In hand 3110312022 33,145 33,145 Increase I Idecfeasel in cash over the year 14,726 5,535 Amount of Incom& I (Expendllurel in exGes5 9,191 7,888 PAGE 3
THE FOUNDATION OF J NA SCOTT AND OTHERS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2023 Income18 counted whon11 is Fecgived. Expendllure Is cOtsd when th& ¢heque Is drawn. Loans lo beneficiarles are always paid from IrKom8. so are counted a8 paymonls when made and repayments as recelpts. Durlng the yaar the Twsl mad9 chang8S to its Inv681menl portlolio by sèlling and purchaslng sh8r88 as recommended by Ils 14nandal advlsers. Th8 investments have been valued at 31st March 2023 as follow8 :. Endownment Portrollo- B8rrett & Cook8 £ 3,052,701 Char411os Propèty Fund 53.778 COIF Ir)com8 Unlts 60,232 PAGE 4
FOUNDATION OFJOANNA SCOTh ANNUAL REPORT 3110312023 Registered No 311253 Registered address Is 13 Cathedral Close, NORWICH NRI 4DS The Foundatlon was orlginally set up under the will of Joanna Scott dated 27th July 1709. The provisions ofthat have been superseded by a scheme of the Board of Education in 1913 and was amended by the Charity Commission schemes, the last dated 1710611986. The Trustees servin8 duringthe year were Irls Voegeli, Mary Rae. Melvyn Ruff, Judith Leggett, Caroline Ackroyd and David Nobbs. Under the 1913 scheme three of the Trustees are appointed by the congregation of the Octagon Unitarian Chapel Norwlch and three bythe Mayor and corporation of Norfolk. The Clerk to the Trustee5 is Mrs S Loombe of Hansells Solicitors at the above address. The Trustees bank account is with Cater Allen private bank. Investment Advisors: Endowment Portfolio is held by Barrett and Cooke of Norwich. The Trustees have no special powers of investment. Most of the Foundations Income Is from the investments of its permanent endowment. The Trustees are aware of the risks involved in investing but consider that with professionally managed well spread Portfolio the return available is a risk worth taking. The Trustees hold Income units in COIF Charities Investment Fund and accumulatlve Income in the Charltles Property Fund. The Trustees have a wide dlscretion in applying the income to promote the education of young people who live within 5 miles of Norwich City Hall and who are under the age of 25 by direct help of grants and by dlrect grants to schoo15 and other groups for special benefit. Duringthe yearthe Trustees have made 186 grants to groups and individual students totalling £52822. Grants for specified individuals were towards help with University and FE Maintenance, FE Courses, school uniforms, school trips, music, dance and gym fees, swimming, karate lessons and examlnations, books & equlpment, bus passes. Grants have been made to some local groups which, within their remit, cater for groups of youn8 people.