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2023-12-31-accounts

St Nicholas with St Leonard Educational Charity Charity Number 311642 and Forlorn Hope Estate Charity Number 205719

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 5
Independent Examiner's Report 6 - 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 - 20

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees _Vacant_1
Ms F Dorman2
Mrs J Yeomans2
Ms L Harris2
~~Mrs M Dymond (resigned 15 March 2023)3~~

~~Mr P E Woolf Chairman4~~
~~,~~
~~Mr R Metcalfe4~~
~~Mrs C Moran5~~
~~g~~
1Ex-officio Trustee - The Priest in Charge at St Stephen, City
2Trustees appointed by the Diocesan Board of Education
3Trustees appointed by St Nicholas Church Lands Charity
4Trustees appointed by St Leonard Church Lands Charity
5Co-Opted
Principal office
1 All Saints Court
Bristol
BS1 1JN
Independent examiner
Jonathan Marchant,ForvisMazars LLP
Bankers
Investment Advisers
Chartered Accountants
90 Victoria Street
Bristol
BS1 6DP
NatWest Bank plc
Bristol
BS99 7UG
Evelyn Partners
Portwall Place
Portwall Lane
Bristol
BS1 6NA

Page 1

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements of the charity for 1 January 2023 to 31 December 2023. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objectives and activities

a. Policies and objectives

Subject to the payment of 15.5% of the income from the Forlorn Hope Estate to certain officials of St Stephen's Parish, Bristol, the remaining income after payments of £200 to St Nicholas Almshouses and £45 to St Paul's Parish, passes to the St Nicholas with St Leonard Charity.

Under its governing instrument the income is to be applied:

All Church of England schools were written to in the year and invited to apply for grants. Four grants were made to individual schools directly in the year. In addition to the payment made to the Bristol Diocesan Board of Finance to assist in their work with schools and support the post of Diocesan Youth Advisor, a further grant was made to Encounter Christianity to support their work in Bristol.

The Trustees are always looking for new and suitable projects within the city to support.

b. Main activities undertaken to further the charity's purposes for the public benefit

The Charity acknowledges its requirement to demonstrate that it must have charitable purposes or "aims" that are for the public benefit. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

The charity commission scheme which governs the Charity provides that the Charity shall apply its income (less the expenses set out in the schemes) in promoting the religious education in accordance with the doctrines of the Church of England of children in the City of Bristol or, in exceptional circumstances. the Anglican Diocese of Bristol.

Page 2

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance:

Financial review

a. Financial review

Total income amounted to £27,672 (2022: £26,848) and total expenditure amounted to £29,466 (2022: £30,834) leaving net expenditure, before revaluation and investment gains/losses, of £1,794 (2022: £3,986 net expenditure). Investment gains amounted to £13,552 (2022: £97,226 losses).

b. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

c. Financial risk management objectives and policies

The Trustees have adopted a policy of assessing the risks faced by the Charity in pursuance of its objects, and a copy of that policy is available from the clerk on request. The policy will continue to be reviewed by the trustees from time to time.

d. Reserves policy

Unrestricted funds are needed:

The Trustees consider it prudent that unrestricted reserves should be sufficient:

The St Nicholas with St Leonard Fund represents unrestricted reserves. Unrestricted reserves are currently held at £3,825 (2022: £5,619), with a further £153,614 (2022: £152,567) held in the Capital element of the fund.

The level of reserves are monitored and reviewed by the trustees throughout the year.

Page 3

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

e. Investment policy

Management of the Charity's investments are handled by Smith & Williamson, who have discretionary powers to act on the understanding that the primary investment objective is balanced income and growth subject to a medium degree of risk. The trustees keep this policy under review, and are satisfied that the objectives are being met.

Investments are also monitored in accordance with ethical investment guidelines established by the Church of England and reviewed from time to time by the General Synod.

Grant applications are invited from organisations seeking funding and are considered by the Trustees and assessed according to whether they meet the criteria described above.

Structure, governance and management

a. Constitution

By a Direction under Section 96(6) of the Charities Act 1993, the Charity Commissioners agreed that the two charities should be treated as a single charity for the purposes of Part II (Registration) and Part IV (accounting) of the Act, with the St Nicholas with St Leonard Charity being the reporting charity under its name and registration number of 311642.

Under the Scheme of 21st October 1983, the Trustees are appointed by a number of other trust bodies in the Bristol area, except for one Trustee who holds office ex officio by virtue of his position as Priest in Charge of the Parish of St Stephen, Bristol. In selecting trustees, the various trusts are asked to bear in mind the purposes of the Charity, and to seek appropriate people accordingly.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

The Charity consists of the Forlorn Hope Estate, Charity No 205719, governed by a Scheme of the Charity Commissioners, confirmed by Act of Parliament of 1858 and the St Nicholas with St Leonard Charity No 311642, established by a Charity Commission Scheme of 21 October 1983. The Charity was incorporated under a Charity Commission Order of 28th April 1995.

The Forlorn Hope Estate holds the bulk of the invested capital of the Charity. From its income 15.5% is paid to various small trusts related to the Anglican Parish of the City of Bristol to meet certain parish expenses and the remainder is available for the work carried out by the St Nicholas with St Leonard Educational Charity.

Page 4

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Plans for future periods

The Trustees are seeking to fund more schools within the area of benefit with grants made in line with the criteria of the charity.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on Jul 29, 2024 and signed on their behalf by:

Mr Peter Woolf, Mr Peter Woolf, (Jul 29, 2024 20:51 GMT+1)

Mr Peter Woolf,

Page 5

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner's Report to the Trustees of St Nicholas with St Leonard Educational Charity and Forlorn Hope Estate ('the charity')

I report on the financial statements of St Nicholas with St Leonard Educational Charity and Forlorn Hope Estate, the charity, for the year ended 31 December 2023, which are set out on pages 8 to 20.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consquently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, which is complete, I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 6

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Signed: Dated: Aug 13, 2024

Jonathan Marchant (Aug 13, 2024 11:57 GMT+1)

Jonathan Marchant FCA

Forvis Mazars LLP Chartered Accountants 90 Victoria Street Bristol BS1 6DP

Page 7

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income and endowments from:
Investments
3
Other income
4
Total income and endowments
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income before net
gains/(losses) on investments
Net gains/(losses) on investments
Net (expenditure)/income
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
5		 St Nicholas
with St
Leonard
2023
£
6,092
116
6,208
20,796
20,796
(14,588)
1,047
(13,541)
12,794
(747)
158,186
(747)
157,439		 Forlorn Hope
Estate
2023
£
21,464
-
21,464
8,670
8,670
12,794
12,505
25,299
(12,794)
12,505
520,178
12,505
532,683		 Total
funds
2023
£
27,556
116
27,672
29,466
29,466
(1,794)
13,552
11,758
-
11,758
678,364
11,758
690,122		 Total
funds
2022
£
26,749
99
26,848
30,834
30,834
(3,986)
(97,226)
(101,212)
-
(101,212)
779,576
(101,212)
678,364

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 10 to 20 form part of these financial statements.

Page 8

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Fixed assets
8
9
10
11
11
Investments
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one
year
Net current assets
Total net assets
Charity funds
Forlorn Hope Estate
St Nicholas with St Leonard
Total funds		 581
65,726
66,307
(29,920)		 2023
£
653,735
653,735
36,387
690,122
532,683
157,439
690,122		 465
45,586
46,051
(11,813)		 2022
£
644,126
644,126
34,238
678,364
520,178
158,186
678,364

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr Peter Woolf,

Mr Peter Woolf, (Jul 29, 2024 20:51 GMT+1)

Mr Peter Woolf,

Date: Jul 29, 2024

The notes on pages 10 to 20 form part of these financial statements.

Page 9

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

St Nicholas with St Leonard Educational Charity is an unincorporated charity, registered in England with a registered number 311642 and Forlorn Hope Estate is an unincorporated charity, registered in England with a registered number 205719. The registered office of both charities is 1 All Saints Court, Bristol, BS1 1JN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with applicable accounting standards, and comply with the Statement of Recommended Practice: Accounting and reporting by charities preparing their accounts in accordance with FRS 102: Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011.

St Nicholas with St Leonard Educational Charity and Forlorn Hope Estate meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The presentation currency of the charities is sterling and the accounts are rounded to the nearest £. Comparative information is for the year ended 31 December 2022.

2.2 Going concern

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. As a result, the accounts have been prepared on a going concern basis.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Page 10

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements. These include the cost of the preparation and examination of statutory accounts, the clerk's fee and any other costs relating to governance and constitutional matters.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Taxation

The charity is a registered charity and as such is not liable to taxation on the net income from its charitable activities.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 11

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

The Forlorn Hope Estate Fund represents capital held and income received that is subject to restrictions on use determined by the Scheme of Management of the Charity.

The St Nicholas with St Leonard Fund represents unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

Page 12

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

3. Investment income

Investment income
Investment income		 St Nicholas
with St
Leonard
2023
£
6,092
St Nicholas
with St
Leonard
2022
£
5,594		 Forlorn
Hope Estate
2023
£
21,464
Forlorn
Hope Estate
2022
£
21,155		 Total
funds
2023
£
27,556
Total
funds
2022
£
26,749

4. Other incoming resources

Other income
Other income		 St Nicholas
with St
Leonard
2023
£
116
St Nicholas
with St
Leonard
2022
£
99		 Total
funds
2023
£
116
Total
funds
2022
£
99

Page 13

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure by activities

Grants - St Nicholas with St Leonard
Grants - Forlorn Hope Estate
Grants - St Nicholas with St Leonard
Grants - Forlorn Hope Estate		 Activities
undertaken
directly
2023
£
16,995
2,842
19,837
Activities
undertaken
directly
2022
£
19,050
2,670
21,720		 Support
costs
2023
£
3,801
9,629
Support
costs
2022
£
3,096
9,114
5,828
6,018		 Total
funds
2023
£
20,796
8,670
29,466
Total
funds
2022
£
22,146
8,688
30,834

Analysis of direct costs

Per Schedule 1 of the Act of 26th May 1858
St Nicholas Church Lands Charity
BDBF - Stipend, Rector St Stephens
Clerk, Sexton, Organist
Diocese of Bristol
Encounter Christianity		 St Nicholas
with St
Leonard
2023
£
245
-
-
-
9,750
7,000
16,995		 Forlorn
Hope Estate
2023
£
-
1,367
1,206
269
-
-
2,842		 Total
funds
2023
£
245
1,367
1,206
269
9,750
7,000
19,837

Page 14

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

St Nicholas Church Lands Charity
BDBF - Stipend, Rector St Stephens
Clerk, Sexton, Organist
Diocese of Bristol
Barrs Court Primary School
Avonmouth C of E School
Encounter Christianity
Henleaze and Westbury Park
Analysis of support costs
Governance costs		 St Nicholas
with St
Leonard
2022
£
-
-
-
7,350
5,000
1,000
5,000
700
19,050		 Forlorn
Hope Estate
2022
£
1,360
1,042
268
-
-
-
-
-
2,670
Grant
Making
2023
£
9,629		 Total
funds
2022
£
1,360
1,042
268
7,350
5,000
1,000
5,000
700
21,720
Total
funds
2023
£
9,629

Included in governance costs is an ex-gratia payment of £1,000 (2022: £1,000) to the clerk for her services during the year.

Grant Total
Making funds
2022 2022
£ £
Governance costs 9,114 9,114

Page 15

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examination and accounts preparation fee of £2,802 (2022 -£2,670).

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).

8. Fixed asset investments

Cost or valuation
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Listed
investments
£
644,127
10,140
(12,583)
12,051
653,735
653,735
644,127

9. Debtors

Other debtors 2023
£
581
581		 2022
£
465
465

Page 16

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Creditors: Amounts falling due within one year

Grants - St Nicholas with St Leonard
Grants - Forlorn Hope
Accruals and deferred income		 2023
£
17,371
8,358
4,191
29,920		 2022
£
3,626
5,517
2,670
11,813

Page 17

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Statement of funds

Statement of funds - current year

St Nicholas
with St
Leonard
Income
Capital
Forlorn Hope
Income
Capital
Total of funds		 Balance at 1
January
2023
£
5,619
152,567
158,186
-
520,178
520,178
678,364		 Income
£
6,208
-
6,208
21,464
-
21,464
27,672		 Expenditure
£
(20,796)
-
(20,796)
(8,670)
-
(8,670)
(29,466)		 Transfers
in/out
£
12,794
-
12,794
(12,794)
-
(12,794)
-		 Gains/
(Losses)
£
-
1,047
1,047
-
12,505
12,505
13,552		 Balance at
31
December
2023
£
3,825
153,614
157,439
-
532,683
532,683
690,122

The transfers represent the balance on the Forlorn Hope income account. The total surplus of the Income element is transferred to the St Nicholas with St Leonard Fund in line with the scheme.

Page 18

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Statement of funds (continued)

Statement of funds - prior year

St Nicholas
with St
Leonard
Income
Capital
Forlorn Hope
Income
Capital
Total of funds		 Balance at
1 January
2022
£
9,605
178,173
187,778
-
591,798
591,798
779,576		 Income
£
5,693
-
5,693
21,155
-
21,155
26,848		 Expenditure
£
(22,146)
-
(22,146)
(8,688)
-
(8,688)
(30,834)		 Transfers
in/out
£
12,467
-
12,467
(12,467)
-
(12,467)
-		 Gains/
(Losses)
£
-
(25,606)
(25,606)
-
(71,620)
(71,620)
(97,226)		 Balance at
31
December
2022
£
5,619
152,567
158,186
-
520,178
520,178
678,364

Page 19

ST NICHOLAS WITH ST LEONARD EDUCATIONAL CHARITY AND FORLORN HOPE ESTATE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments
Current assets
Creditors due within one year
Total		 St Nicholas
with St
Leonard
2023
£
144,876
18,525
(5,962)
157,439		 Forlorn
Hope Estate
2023
£
508,859
47,782
(23,958)
532,683		 Total
funds
2023
£
653,735
66,307
(29,920)
690,122

Analysis of net assets between funds - prior year

Fixed asset investments
Current assets
Creditors due within one year
Total		 St Nicholas
with St
Leonard
2022
£
145,397
17,750
(4,961)
158,185		 Forlorn
Hope Estate
2022
£
498,729
28,301
(6,852)
520,178		 Total
funds
2022
£
644,126
46,051
(11,813)
678,363

13. Related party transactions

There have been no related party transactions in the year (2022: £Nil).

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