| MARCH EDUCATIONAL FOUNDATION STATE^IENT OF FINANCIAL ACTIVTTiES fINCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2022 |
MARCH EDUCATIONAL FOUNDATION STATE^IENT OF FINANCIAL ACTIVTTiES fINCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2022 |
MARCH EDUCATIONAL FOUNDATION STATE^IENT OF FINANCIAL ACTIVTTiES fINCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2022 |
MARCH EDUCATIONAL FOUNDATION STATE^IENT OF FINANCIAL ACTIVTTiES fINCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2022 |
|---|---|---|---|
| Endowment Restricted Unrestricted Total Total | |||
| Funds INCOMING RESOURCES |
Funds Eaads 2022 2021 | ||
| Donations, Legacies and Sioaiiar | |||
| Resources: | |||
| Legacies 245,710 Donations |
100 | 245,710 300,000 100 |
|
| Investment iacome: | |||
| Dividends Interest on bank deposits - |
27,242 | 9,2052 36,447 31,384 _2 _2 |
|
| Total Incoining Resources £245,710 |
£27,242 £9,307 £282,259 £331,386 | ||
| RESOURCES EXPENDED | |||
| Direct charitable expenditure: | |||
| Grants (Note 2) Other expenditure: 4,610 Management and admimstratioa |
10,164 | 5,673 | 15,837 4,610 6,873 |
| (Note 3) | -3J23 | 3J23 ^m |
|
| Total Resotirees Exjiended 4,61 0 | £8,796 | £23,570 £9,047 |
|
| NET SNCOME/WXPENDITURE) | |||
| INVESTMENT GAINS/ | |||
| (LOSSES) £241,100 £17,078 |
£511 | £258,689 £322,339 | |
| NET GAINS/(LOSSES) | |||
| ON INVESTMEIW ASSETS £77,546 | £77,546 £220,192 | ||
| NET INCOME/EXPENPmjRE | |||
| AND NET MOVEMENT IN | |||
| FUNDS FOR THE YEAR Fund balances brought forward 318,646 17,078 £2,115,220 £23,468 |
511 £8,995 |
336,235 542,531 £2,147,683 £1,605,152 |
|
| FUME) BALANCES CASRIED | |||
| FORWARD £2,433,866 £40,546 | £9,506 £2,483,918 £2,147,683 |
| 2022 | 2021 | ||
|---|---|---|---|
| FDOED ASSETS | |||
| Iiivestraents (Note 4) | £2,465,151 | £1,260,787 | |
| CURRENT_ASSETS | |||
| Legacy debtor | 860,000 | ||
| Lloyds Bank Pic - Business Call Account | 19,661 | 26,034 | |
| Current Accoimt | _Z685 | 2,302 | |
| 27,346 | 888,336 | ||
| CREDITORS: | |||
| aiiiouuts due within one year (Note 5) | 8,579 | 1,440 | |
| NET_£UgjREJNT ASSETS | £18,767 | £886,896 | |
| NET^ASSETS | £2,483,918 | £2,147,683 | |
| CAPITAL FUNDS | |||
| Endowment Funds (Note 10) | 2,433,866 | 2,115,220 | |
| INCOME FUNDS | |||
| Restiicted Funds (Note 11) | 40,546 | 23,468 | |
| Unrestricted Fund | 9,506 | 8,995 | |
| £2,483,918 | £2,147,683 | ||
| Approved by the Board of Trustees on i^R' SCM-^ | ;A^CM-U^ 1^«<J |
2o'2-3 | |
| and signed on its behalf by: | |||
| - M Field (Chaii-man) | |||
| Mr M Purser (Vice-Chairman) .......M.^.' | ••»aa»iir*a |
| 2022 | 2021 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTWITIES: | ||
| Net cash (used in) operating activities (Note 1) | £(37,439) | £(9,599) |
| CASH FLOWS FROM INVESTING ACTSVITES: | ||
| Income from listed investments Interest Received |
36,447 2 |
31,384 2 |
| CASH PROVIDED BY INVESTING ACTWITES | £36,449 | £31,386 |
| DECREASE IN CASH AND | ||
| CASH EOTOVALENTS IN THE YEAR | £(990) | £21,787 |
| CASH AM) CASH EOUB^ALENTS AT THE BEGINNING OF THE YEAR |
£28,336 | £6,549 |
| CASH AND CASH EQUWALENTSATT^ END OF THE YEAR |
£27,346 | £28,336 |
| Note 1 - Reconeifiatioa of set expeaditare So set casb flow | jErom operating activities | |
| Net income for the reporting period Adjustments for |
336,455 | 542,531 |
| Investaient assets acquired firom legacy (Gains)/!osses on investments Dividends and mterest from investments (Decrease)/iHcrease in creditors (Increase)/decrease in debtors Expenses paid fi-om investments Income reinvested |
(1,120,000) (77,546) (36,449) 120 860,000 3 (22) |
(220,192) (31,386) (636) (300,000) 114 (30) |
| £(37,439) | £(9,599) |
| 2 | Grants Payable | ||||
|---|---|---|---|---|---|
| Number | 2022 Value | Number | 2021 Value | ||
| Payable to institutions | 2 | 1,223 | 2 | 1,423 | |
| Payable to individuals | 8 | 14.614 | 5 | _5,450 | |
| 37 | |||||
| The following material grants were made to | |||||
| institutions:- | |||||
| Neale-Wade Academy | 1,000 | 1,200 | |||
| Other imanalyzed grants | _223 | 223 | |||
| Total grants payable to institiitions | |||||
| 3 | Management_aud_Administration Costs | ||||
| 2022 | 2021 | ||||
| Accountants' Fees | 2,820 | 1,734 | |||
| Inveslinentinaaagers' fees | 3 | 114 | |||
| Clerk's Salaiy and expenses | 300 | 326 |
| 4 | Fixed Asset Investoaenfe | Listed investaiente | Investment | C^h |
|---|---|---|---|---|
| Property | ||||
| Fair Value at 31 March 2021 Add: additions diuring the period Less: disposals at carrying value |
1,260,720 | 1,326,799 | 67 | |
| Add: transfer ia ia the period | 22 | |||
| Management fees Net gain on revaluation at 31 March 2022 |
77,546 | (3) | ||
| Fair Value as at 31 March 2022 | £1,338,266 | £1,126,799 | 86 | |
| Historical Costs as at 31 March 2022 | £900,580 | 86 | ||
| Analysis ofmvestments | Far value.at ¥/e | |||
| less impairment | Deemed Cost | Cost | ||
| Cash or cash equivalents | 86 | |||
| Investment Property | 1,126,799 | |||
| Listed investments | 1338,266 | |||
| Grand Total | £1^38^66 | £1,126,799 | £86 | |
| There has not been a professional valuation on the property, the | value has been determined by | |||
| tiie clerk to the trustees. | ||||
| 5 | Creditors | 2022 2021 | ||
| Amounte due within one year: | ||||
| Accrual Tax liability in relation to investment property £1,560 |
£1,440 | |||
| Transferred to the charity | ||||
| £8,579 | £1,440 |
| ndowment Funds | ||||
|---|---|---|---|---|
| At | Incoming | Gains | At | |
| 1.4.2021 | Resources | and losses | 31.3.2022 | |
| MEF Endowment Fund | 306,603 | 27,071 | 333,674 | |
| G & P Brewm Scholarship Fund | 1,808.617 | 241,320 | 50^75 | 2,100,412 |
| 2,115,220 | 241,320 | 77,546 | 2,434,086 |
| estricted Funds | ||||
|---|---|---|---|---|
| At | Incoming | Outgoing | At | |
| 1.4.2021 | Resources | Resources | 31.3.2022 | |
| March Silver Jubilee Scholarship Fund | 260 | 117 | 377 | |
| G & P Brewin Scholarship Fund | 23,208 | 27,125 | 10,164 | 40,169 |
| £23,468 | £27,242 | £10,164 | £40,546 |