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##
|||Notes|2022||2021||
|---|---|---|---|---|---|---|
||||5||8||
|FIXEDASSETS|||||||
|Tangible assets
Investments||10
11||1,100,940
14,399,017||1,126,161
16,158,541|
|TOTAL FIXED ASSETS||||15,499,957||17,284,702|
|CURRENT ASSETS|||||||
|Debtors
Cash at bank and in hand
TOTAL~ASSETS||12|53,600
225,324
278,924||22,069
258,461
280,530||
|LIABILITIES;|||||||
|Creditors: Amounts
falling due|||||||
|within one year||13|(32,070)||(32,065)||
|NET CURRENT ASSETS||||246,854||248,465|
|TOTAL ASSETSLESS|CURRENT||||||
|LIABILITIES||||15,746,811||17,533,167|
|Provisions
for liabilities|and charges|14||(35,162)||(38,442)|
|TOTAL NET ASSETS||18||15,711,649||17,494,725|
|THE FUNDS OF THE CHARITY:|||||||
|Restricted funds||15||2,289487||2,593,253|
|Endowment
funds||16||9,754,618||10,833,466|
|Unrestricted
funds:|||||||
|Dmignated
funds
Other charitable
funds||17
17|75,132
3,592,612|3,667,744|91,519
3,976,487|4,068,006|
|TOTAL CHARITY FUNDS||18||15,711,649||17,494,725|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||Total|Total|
|||||Notes|Funds|Funds|
|Cash flows from operating|activities:||||||
|Net cash provided
by (used|ln) operating||actlvltles|19|(484,005)|(119,607)|
|Cash flows from investing|activities:||||||
|Inveslment
income|||||399,077|364,023|
|Purchase oftangible fixed assets|||||(1,669)|(2,998)|
|Purchase ofinvestments|||||(2,364,907)|(2,101,529)|
|Proceeds fiom investments|||||2,942,870|1,515,158|
|Net cash prov hied by (used|In) Investing||actlvldes||975,371|(225,346)|
|Change ln cash and cash equivalents
Cash and cash equivalents
brought||In the year
forward|||491,366
381,664|(344,953)
726,617|
|Cash and cash equivalents|carried forward|||19|873,030|381,664|
##
##
##
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##
|S TO|THE FINANC|IAL STATEMENTS||||||
|---|---|---|---|---|---|---|---|
|2,|INCOME
FOR THE|FROM DONATIONS
YEAR ENDED 30TH|AND LEGACIES
SEPTEMBER2022|Unrestricted
Funds|Restricted
Funds|Endowment
Funds|2022
Total|
||Donations|||150|32,097||32,247|
||Gift Aid||||1,250||1,250|
|||||150|33,347||33,497|
||INCOME|FROM DONATIONS|AND LEGACIES|Unrestricted|Restricted|Endowment|2021|
||FOR THE|YEAR ENDED 30TH|SEPTEMBER2021|Funds
f.|Funds|Funds
f|Total|
||Donations|||229,893|6,703||236,596|
||Gift Aid||||1,250||1,250|
|||||229,893|7,953||237,846|
||INCOME|FROM CHARITABLE ACTIVITIES||Unrestricted|Restricted|Endowment|2022|
||YEAR ENDED 30TH SEPTEMBER2022|||Funds|Funds|Funds|Total|
||Grants|||11,160|94,850||106,010|
||INCOME|FROM CHARITABLE ACTIVITIES||Unrestricted|Restricted|Endowment|2021|
||YEAR ENDED 30TH SEPTEMBER2021|||Funds|Funds
6|Funds|Total
f|
||Grants||||190,327||190,327|
||INCOME|FROMINVESTS||Unrestricted|Restricted|Endowment|2022|
||YEAR ENDED 30TH SEPTEMBER2022|||Funds|Funds|Funds|Total|
||Interest receivable|||||||
||Dividends|receivable||12,955|60,642|291,326|364,923|
||Rents receivable (No 2 Sylvester||Road)|34,154|||34,154|
|||||47,109|60,642|291,326|399,077|
||INCOME|FROM INVESTMENTS||Unrestricted|Restricted|Endowment|2021|
||YEAR ENDED 30TH SEPTEMBER2021|||Funds|Funds|Funds|Total|
||||||6|f.|f,|
||Interest receivable|||28|||28|
||Dividends|receivable||41,931|55,053|234,817|331,801|
||Rents receivable (No 2 Sylvester||Road)|32,194|||32,194|
|||||74,153|55,053|234,817|364,023|
|5|INCOME|FROM OTHER||Unrestricted|Restricted|Endowment|2022|
||YEAR ENDED 30TH SEPTEMBER2022|||Funds|Funds|Funds|Total|
||||||||f,|
||Royalties
Sundry|||3,506
8,761|||3,506
8,761|
|||||12,267|||12,267|
||INCOME|FROM OTHER||Unre sir to ted|Restricted|Endowment|2021|
||YEAR ENDED 30TH SEPTEMBER2021|||Funds|Funds|Funds|Total|
|||||8||||
||Royalties
Sundry|||7,820
862|43||7,820
905|
|||||8,682|43||8,725|
##
|EXPENDITURE ON;|||||||
|---|---|---|---|---|---|---|
|CHARITABLE ACTIVITIES|||Unrestrioted|Restricted|Endowment|2022|
|YEAR ENDED 30TH SEPTEMBER2022|||Funds|Funds|Funds|Total|
||||||f||
|Academic and related costs|||190,333|183,725||374,058|
|Establishment
costs|||67,725||16,770|84,495|
|Office and support
costs|||146,201|16,332||162,533|
|Governance
costs|||6,777|||6,777|
||||411,036|200,057|16,770|627,863|
|ANALYSIS OF EXPENDITURE||ON CHARITABLE|Unrestricted|Restricted|Endowment|2022|
|ACTIVITIES YEAR ENDED 30TH SEPTEMBER2022|||Funds|Funds|Funds|Total|
|Academic and related costs|||||f,||
|Salaries (academic)|||98,302|83,376||181,678|
|Salaries (librarian)|||68,119|34,998||103,117|
|Research grants||||41,500||41,500|
|Books and publications|||5,299|1,088||6,387|
|Travel and accommodation|||5,157|1,269||6,426|
|Computer costs|||8,791|5,213||14,004|
|Telephone,
postage and photocopying|||2,996|||2,996|
|Other (incl. lecture and exhibition||expenses)|1,669|16,281||17,950|
||||190,333|183,725||374,058|
|Establishment
costs|||||||
|Rates|||12,185|||12,185|
|Insurance|||9,609|||9,609|
|Repairs and maintenance|||19,255|||19,255|
|Water, light and heat|||9,727|||9,727|
|Cleaning|||8,522|||8,522|
|Gardening
and grounds|||8,427|||8,427|
|Depreciation|||||16,770|16,770|
||||67,725||16,770|84,495|
|Office and support
costs|||||||
|Other salaries|||72,059|||72,059|
|Depreciation|||10,120|||10,120|
|Printing
and stationery|||1,795|430||2,225|
|Events|||6,849|1,707||8,556|
|Investment
broker charges|||55,381|14,195||69,576|
|Foreign exchange gain|||(3)|||(3)|
||||146,201|16,332||162,533|
|Governance
casts|||||||
|Audit and accountancy|||6,533|||6,533|
|Other legal and professional|fees||244|||244|
||||6,777|||6,777|
||||411,036|200,057|16,770|627,863|
##
##
|EXPENDITURE ON;|||||||
|---|---|---|---|---|---|---|
|CHARITABLE ACTIVITIES continued|||Unrestricted|Restricted|Endowment|2021|
|YEAR ENDED 30TH SEPTEMBER2021|||Funds|Funds|Funds|Total|
|||||f|f|f|
|Academic and related costs|||169,610|101,874||271,484|
|Establishment
costs|||61,254||16,770|78,024|
|Office and support costs|||146,926|11,387||158,313|
|Governance
costs|||7,390|155||7,545|
||||385,180|]13,416|16,770|515,366|
|ANALYSIS OF EXPENDITURE||ON CHAR%ABLE|Unresnicted|Restricted|Endowment|2021|
|ACTIVITIES YEAR ENDED 30TH SEPTEMBER2021|||Funds|Funds|Funds|Total|
|Academic and related costs|||||f||
|Salaries (academic)|||85,193|57,780||142,973|
|Salaries (librarian)|||63,732|26,691||90,423|
|Research grants||||14,500||14,500|
|Books and publications|||4,936|1,680||6,616|
|Travel and accommodation|||55|||55|
|Computer costs|||9,327|||9,327|
|Telephone,
postage and photocopying|||3,373|||3,373|
|Other (incl, lecture and exhibition||expenses)|2,994|1,223||4,217|
||||169,610|101,874||271,484|
|Establishmeat
costs|||||||
|Rates|||12,186|||12,186|
|Insurance|||14,947|||14,947|
|Repairs and maintenance|||9,658|||9,658|
|Water, light and heat|||7,410|||7,410|
|Cleaning|||8,348|||8,348|
|Gardening
and grounds|||8,670|||8,670|
|Ground rent|||35|||35|
|Depreciation|||||16,770|16,770|
||||61,254||16,770|78,024|
|Office and support
costs|||||||
|Other salaries|||65,946|||65,946|
|Depreciation|||8,483|1,224||9,707|
|Printing
and stationery|||877|282||1,159|
|Events|||199|||199|
|Investment
broker charges|||71,445|9,881||81,326|
|Foreign exchange gain|||(24)|||(24)|
||||146,926|11,387||158,313|
|Governance
costs|||||||
|Audit and accountancy|||6,196|||6,196|
|Other legal and professional|fees||1,194|155||1,349|
||||7,390|155||7,545|
||||385,180|113,416|16,770|515,366|
##
|NET INCOME FOR THE YEAR|NET INCOME FOR THE YEAR||2022|2021|
|---|---|---|---|---|
|This is stated afier charging:|||||
|Auditors
remuneration|- external|audit|6,533|6,196|
||- non audit|services|||
|Depreciation oftangible fixed|assets||26,890|26,477|
|MANAGEMENT
THREAT IN RELATION TO NON-AUDIT|MANAGEMENT
THREAT IN RELATION TO NON-AUDIT|MANAGEMENT
THREAT IN RELATION TO NON-AUDIT|SERVICES|||
|---|---|---|---|---|---|
|In common
with many other businesses ofour size and nature we use our auditors to assist||||with the preparation|ofthe|
|financial
statements.||||||
|ANALYSIS OF STAFF COSTS AND REMUNERATION||OF||2022|2021|
|KEYMANAGEMENT|PERSONNEL||||8|
|Salaries and wages||||258,151|214,197|
|Social security costs||||28,912|23,382|
|Pension contributions||||76,864|69,118|
|||||363,927|306,697|
|The average number ofstaff employed,
analysed
by funct|ion,
employed
during the year were:||
|---|---|---|
||2022|2021|
||Number|Number|
|Academic|6|7|
|Administmtion|3|3|
|Establishment|I|I|
||10||
##
|Ib.|TANGIBLE FIXEDASSETS|TANGIBLE FIXEDASSETS|Long|Fixtures &|Equipment||
|---|---|---|---|---|---|---|
||YEAR ENDED 30TH SEPTEMBER 2022||Leasehold|Fittings|&Software|Total|
||||6|f,|8||
||COST||||||
||Balance at|1st October 2021|1,626,664|70,813|28,422|1,725,899|
||Additions||||1,669|1,669|
||Dispos ala||||(6,666)|(6,666)|
||Balance at|30th September 2022|1,626,664|70,813|23,425|1,720,902|
||DEPRECIATION||||||
||Balance at|1stOctober 2021|519,788|57,395|22,555|599,738|
||Charge for|the year|16,770|5,715|4,405|26,890|
||Eliminated|in disposal|||(6,666)|(6,666)|
||Balance at|30th September 2022|536,558|63,110|20,294|619,962|
||NET BOOK VALUE as at 30th September 2022||1,090,106|7,703|3,131|1,100,940|
##
|Ib.|TANGIBLE FIXEDASSETS|continued|continued|Long|Fixtures &|Equipment||
|---|---|---|---|---|---|---|---|
||YEAR ENDED 30TH SEPTEMBER2021|||Leasehold|Fittings|&Software|Total|
||COST|||||||
||Balance at 1st October 2020|||1,626,664|70,813|25,424|1,722,901|
||Additions|||||2,998|2,998|
||Balance at 30th September 2021|||1,626,664|70,813|28,422|1,725,899|
||DEPRECIATION|||||||
||Balance at 1stOctober 2020|||503,018|51,675|18,568|573,261|
||Charge for the year|||16,770|5,720|3,987|26,477|
||Balance at 30th September 2021|||519,788|57,395|22,555|599,738|
||NET BOOK VALUE as at 30th||September 2021|1,106,876|13,418|5,867|1,126,161|
|11.|INVESTMENT FIXED ASSETS|||2022||2021||
||||||Market||Market|
|||||Cost|Value|Cost|Value|
||Investment
properties
- long leasehold|||111,548|1,200,000|1ยป,548|1,200,000|
||Listed investments|||9,631,066|12,551,311|9,704,711|14,835,338|
||Capital account|||647,706|647,706|123,203|123,203|
|||||10,390,320|14,399,017|9,939,462|16,158,541|
||Market value at 1stOctober||||16,035,338||13,323,327|
||Listed investments
acquired||||2,364,907||2,101,529|
||Listed investments
disposed||||(2,942,870)||(1,515,157)|
||Realised (losses)/gains||||(564,714)||(75,758)|
||Gains/(losses)
on revaluations|at|30th September||(1,141,350)||2,201,397|
||Market value at 30th September||||13,751,311||16,035,338|
||The long leasehold of2 Sylvester Road was valued by the|||Westley &Huff on the|basis ofits market value being|||
||81,200,000.|||||||
||Listed investments
have been valued at the prices as shown on recognised
exchanges.|||||||
||No listed investment,
excluding||cash balances, made up more than 5%ofthe portfolio.|||||
|12.|DEBTORS|||||2022|2021|
||Due within
one yean|||||f||
||Prepayments
and accrued income|||||5,234|1,709|
||Other debtors|||||48,366|20,360|
|||||||53,600|22,069|
|13.|CREDITORS|||||2022|2021|
||Due within one year.|||||f,|8|
||Trade creditors|||||55|54|
||Accruals
and deferred income|||||29,990|29,986|
||Deposit held|||||2,025|2,025|
|||||||32,070|32,065|
|14.|PROVISIONS FORLIABILITIES|2022|
|---|---|---|
||Balance at 1stOctober 2021|38,442|
||Provision identified
in the year||
||Movement
in provision|(3,280)|
||Balance at 30th September 2022|35,162|
||PROVISIONS FORLIABILITIES|2021|
||Balance at 1st October 2020|50,199|
||Provision identified
in the year||
||Movement
in pmvision|(11,757)|
||Balance at 30th September 2021|38,442|
|S TO|THE FINANCIAL STATEMENTS|||||||
|---|---|---|---|---|---|---|---|
|16.|ENDOWMENT
FUNDS|Balance|||Revaluation||Balance|
||YEAR ENDED 30TH|B/Fwd.|Income|Expenditure|Gains|Transfers|C/Fwd.|
||SEPTEMBER 2022|||f|f|||
||Building Fund|705,257||(10,650)|||694,607|
||Building Fund (South Wing)|453,956||(6,120)|||447,836|
||Endowment
Fund|9,166,514|291,326||(1,062,078)|(291,326)|8,104,436|
||Endowment
Fund Library|21,850|||||21,850|
||Joseph Needham
Estate|485,889|||||485,889|
|||10,833,466|291,326|(16,770)|(1,062,078)|(291,326)|9,754,618|
##
|The Endowment
Fund exists to
secure the continuing
operation|The Endowment
Fund exists to
secure the continuing
operation|provide capital for
ofthe Institute.|investment
w|hich in turn will|produce income|sufficient
in tim|e to|
|---|---|---|---|---|---|---|---|
|ENDOWMENT FUNDS||Balance|||Revaluation||Balance|
|YEAR ENDED 30TH||B/Fwd.|Income|Expenditure|Gains|Transfers|C/Fwd.|
|SEPTEMBER 2021|||f.||f|f.||
|Building Fund||715,907||(10,650)|||705,257|
|Building Fund (South|Wing)|460,076||(6,120)|||453,956|
|Endowment
Fund||7,784,077|234,817||1,382,437|(234,817)|9,166,514|
|Endowment
Fund Library||21,850|||||21,850|
|Joseph Needham
Estate||485,889|||||485,889|
|||9,467,799|234,817|(16,770)|1,382,437|(234,817)|10,833,466|
|UNRESTRICTED FUNDS||Balance|||Revaluation||Balance|
|YEAR ENDED 30TH||B/Fwd.|Income|Expenditure|Gains|Transfers|C/Fwd.|
|SEPTEMBER 2022||f.||||f.||
|Designated
funds:||||||||
|Building repairs fund||32,000||(12,378)||4,000|23,622|
|Computer
and equipment||||||||
|fund||21,429||(4,944)|||16,485|
|Librmy Special Fund||38,090||(3,065)|||35,025|
|||91,519||(20,387)||4,000|75,132|
|Other charitable
funds||3,976,487|70,686|(390,649)|(370,801)|306,889|3,592,612|
|||4,068,006|70,686|(411,036)|(370,801)|310,889|3,667,744|
|Purpose ofdesignated|funds:|||||||
|UNRESTRICTED FUNDS|Balance|||Revaluation||Balance|
|---|---|---|---|---|---|---|
|YEAR ENDED 30TH|B/Fwd.|Income|Expenditure|Gains|Transfers|C/Fwd.|
|SEPTEMBER 2021||f.|f,||||
|Designated
funds:|||||||
|Building repairs fund|28,000||||4,000|32,000|
|Computer
and equipment|||||||
|fund|27,143||(2,857)||(2,857)|21,429|
|Library Special Fund|38,933||(2,848)||2,000|38,090|
||94,076||(5,705)||3,143|91,519|
|Other charitable
funds|3,318,865|312,723|(379,475)|436,553|287,821|3,976,487|
||3,412,941|312,728|(385,180)|436,553|290,964|4,068,006|
##
|E FINANCIAL STATEMENTS|E FINANCIAL STATEMENTS|E FINANCIAL STATEMENTS|||||
|---|---|---|---|---|---|---|
|ANALYSIS OFNET ASSETSBETWEEN FUNDS||||||2022|
|YEAR ENDED 30TH SEPTEMBER2022|||Unrestricted|Restricted|Endowment|Total|
||||Funds|Funds|Funds|Funds|
|||||||f.|
|Fund balances
at 30th September|are represented|by:.|||||
|Tangible fixed assets|||10,834||1,090,106|1,100,940|
|Investment
fixed assets|||3,505,024|2,260,946|8,633,047|14,399,017|
|Debtors|||37,895|15,705||53,600|
|Cash at bank and in hand|||178,624|15,235|31,465|225,324|
|Current liabilities|||(29,471)|(2,599)||(32,070)|
|Provisions
for liabilities|||(35,162)|||(35,162)|
|Net assets|||3,667,744|2,289,287|9,754,618|15,711,649|
|ANALYSIS OFNET ASSETSBETWEEN FUNDS||||||2021|
|YEAR ENDED 30TH SEPTEMBER2021|||Unrestricted|Restricted|Endowment|Total|
||||Funds|Funds|Funds|Funds|
|||||||8|
|Fund balances
at 30th September|are represented|by:.|||||
|Tangible fixed assets|||11,781|7,504|1,106,876|1,126,161|
|Investment
fixed assets|||4,107,610|2,355,806|9,695,125|16,158,541|
|Debtors|||17,186|4,883||22,069|
|Cash at bank and in hand|||1,936|225,060|31,465|258,461|
|Current liabilities|||(32,065)|||(32,065)|
|Provisions
for liabilities|||(38,442)|||(38,442)|
|Net assets|||4,068,006|2,593,253|10,833,466|17,494,725|
|||||2022|2021|
|---|---|---|---|---|---|
||||||f|
|Net movement
in|funds|||(1,783,076)|2,411,194|
|Add: Depreciation||||26,890|26,477|
|Less. Inveslment|income|||(399,077)|(364,023)|
|Less: (Losses)/Gains||on investments||1,706,064|(2,125,639)|
|Decrease/(increase)||in debtors||(31,531)|(14,502)|
|Increase/(decrease)||in creditors||5|(41,357)|
|(Decrease)/increase||in provisions||(3,280)|(11,757)|
|Net cash provided|by (used in) operating||activities|(484,005)|(119,607)|
|ANALYSIS OF CASH AND CASH EQUIVALENTS||||2022|2021|
|Cash held under investments||||647,706|123,203|
|Cash at bank||||225,324|258,461|
|||||873,030|381,664|
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||2021/22|2020/21|
|---|---|---|
|Males currently
aged 65 (years)|23.9|24.7|
|Females currently
aged 65 (yemu)|23.5|26.1|
|Males currently
aged 45 (years)|25.9|26.7|
|Females currently
aged 45 (years)|27.3|27.9|
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