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|Company|Secretary|Secretary|MBM Porter||||
|---|---|---|---|---|---|---|
|Registered|Office||Stable Cottage||||
||||Eckington
Road||||
||||Birlingham||||
||||Pershore||||
||||Worcestershire||||
||||WR10 3DA||||
|Principal|Office||Stable Cottage||||
||||Eckington
Road||||
||||Birlingh
am||||
||||Persh ore||||
||||Worcestershire||||
||||WR10 3DA||||
|Solicitors|||Charles
Russell Speechlys|||LLP|
||||Compass
House||||
||||Lypiatt
Rd||||
||||Cheltenham||||
||||GLSO 2QJ||||
|Independent||Auditors|Saffery Champness||LLP||
||||71Queen Victoria||Street||
||||London||||
||||EC4V 4BE||||
|Bankers|||Barclays Bank|Pic|||
||||Wytham
Court||||
||||11West Way||||
||||Oxford||||
||||OX2 OJB||||
|investment||Managers|Brewin Dolphin||||
||||The Paragon|Building|||
||||32 Counterslip||||
||||Bristol||||
||||BS16BX||||
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|The following
Directors|held office during the year ended|31May 2021:||
|---|---|---|---|
|DJ McMeekin||(resigned|21December 2020)|
|JGB Birdwood||(appointed|29 October 2020)|
|PK Broomhead||(resigned|21October 2020)|
|JR Brown||(appointed|30October 2020)|
|TBGaffney||(resigned|21December 2020)|
|JD Greenwood||(resigned|21December 2020)|
|PMC Leggate||(resigned|21October 2020)|
|HC Metters||(resigned|21October 2020)|
|RA Portlock||(appointed|30October 2020)|
|Reverend
PJ Whitworth|(Chair from 4January 2021)|(appointed|4January 2021)|
|CJC Wyld||(resigned|21December 2020)|
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|||||||||Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||||Year|Year|
||||||Notes|Unrestricted|Restricted|31May|31May|
|||||||2021|2021|2021|2020|
||||||||E|E||
|Income from:||||||||||
|Investments||||||||||
|Rents receivable||||||144,327||144,327|144,327|
|Investment
income|||||||4,407|4,407|4,417|
|Total income||||||144,327|4,407|148,734|148,744|
|Expenditure
on:||||||||||
|Raising funds||||||||||
|Finance costs||||||1,317|1,742|3,059|3,555|
|Charitable
activities||||||||||
|Support of provision|||of education|||27,413|14,000|41,413|34,128|
|Total expenditure||||||28,730|15,742|44,472|37,683|
|Net gains/(losses)||on|investments||||27,904|27,904|(9,470)|
|Net income||||||115,597|16,569|132,166|101,591|
|Other recognised||gains/(losses)||||||||
|Actuarial
losses|on defined|||||||||
|benefit pension|scheme|||||(1,046)||(1,046)|(262)|
|Net Movement|in|Funds||||114,551|16,569|131,120|101,329|
|Fund balance brought|||forward|at||||||
|1June 2020||||||3,056,679|173,267|3,229,946|3,128,617|
|Fund balance carried|||forward|at|11|3,171,230|189,836|3,361,066|3,229,946|
|31May 2021||||||||||
|||||Notes|2021|2020|
|---|---|---|---|---|---|---|
||||||f|f|
|Tangible Fixed Assets|||||3,900,000|3,900,000|
|Investments|||||||
|Other Investments|||||190,113|173,524|
||||||190,113|173,524|
|Current Assets|||||||
|Debtors|||||1,260|1,798|
|Cash at bank|and in|hand|||11,853|7,439|
||||||13,113|9,237|
|Creditors: amounts||falling|due within one year||(123,676)|(127,000)|
|Net Current|Liabilities||||(110,563)|(117,763)|
|Total Assets|less Current||Liabilities||3,979,550|3,955,761|
|Creditors: amounts||falling|due after more than one year||(525,612)|(611,355)|
|Provisions||||12|(92,872)|(114,460)|
|Net Assets|||||3,361,066|3,229,946|
|Funds||||10|||
|Restricted funds|||||189,836|173,267|
|Unrestricted|funds||||3,171,230|3,056,679|
|Total funds|||||3,361,066|3,229,946|
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|Analysis oftotal resources e|xpended|||
|---|---|---|---|
|Current year|||31May|
||Unrestricted|Restricted funds|2021|
||funds||Total|
||f|f|f|
|Raising funds||||
|Finance costs|1,317|1,742|3,059|
||1,317|1,742|3,059|
|Charitable
activities||||
|Bursary awards||14,000|14,000|
|Support costs|21,413||21,413|
|Governance
costs|6,000||6,000|
||27,413|14,000|41,413|
|Total expenditure|28,730|15,742|44,472|
|Comparative
year|||31May|
||Unrestricted|Restricted funds|2020|
||funds||Total|
||f|f|f|
|Raising funds||||
|Finance costs|1,547|2,008|3,555|
||1,547|2,008|3,555|
|Charitable
activities||||
|Bursary awards||6,000|6,000|
|Support costs|20,688||20,688|
|Governance
costs|7,440||7,440|
||28,128|6,000|34,128|
|Total expenditure|29,675|8,008|37,683|
|||||31May|31May|
|---|---|---|---|---|---|
|||||2021|2020|
|||||f|f|
|Auditors'|remuneration|(excluding|VAT) for:|||
|Audit services —current||year||5,000|5,500|
|Other services|||||700|
|taff Costs|||||
|---|---|---|---|---|
||||31May|31May|
||||2021|2020|
||||f|f|
|Total staff costs comprised:|||||
|Wages and salaries|||440|496|
|Social security costs|||||
|Pensions contributions|||||
|Interest expense|on defined benefit pension scheme||1,259|1,652|
||||1,699|2,148|
|The average numbers|ofemployees|in the period were:|2021|2020|
||||Number|Number|
|Management
&.administration|||1|1|
|||||||31May|31May|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||f|f|
|Aggregate|employment|benefits|ofkey|management|personnel|440|496|
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||Freehold|Total|
|---|---|---|
||property||
|Cost|||
|At 1June 2020 and 31May 2021|5,823,282|5,823,282|
|Depreciation|||
|At 1June 2020 and 31May 2021|1,923,282|1,923,282|
|Net Book Value|||
|At 1June 2020 and 31May 2021|3,900,000|3,900,000|
##
|||2021|2020|
|---|---|---|---|
|||E|f|
|Balance brought
forward||173,524|186,328|
|Proceeds from disposals||(37,718)|(139,147)|
|Purchases||28,412|131,175|
|Net gains/(losses)||27,904|(9,470)|
|Movement
on investment|cash|(2,009)|4,638|
|Balance carried forward||190,113|173,524|
||Investments|ar|e ma|de up as follows|||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f|f|
||UK Equities||||46,258|75,107|
||UK Bonds
Overseas|Bonds and Equities|||7,225
118,904|55,524
30,793|
||Property
Cash|and|other||12,868
4,858|5,332
6,768|
||||||190,113|173,524|
||Debtors||||||
||||||2021|2020|
||||||f|f|
||Prepayments||and|accrued income|1,260|1,798|
||||||1,260|1,798|
|7|Creditors: Amounts|||falling due within one year|||
||||||2021|2020|
||||||f|f|
||Accruals and||deferred
income||123,676|127,000|
||||||123,676|127,000|
|8|Creditors: Amounts|||falling due after more than one year|||
||||||2021|2020|
||||||f|f|
||Deferred|rental income (note 9)|||518,292|601,219|
||Accrua Is||||7,320|10,136|
||||||525,612|611,355|
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||||||||||||||||||2021|2021|||||2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||||E|||||f|
|At 1June|2020|||||||||||||||684,||146|||||767,073|
|Released|to||income
in the year|||||||||||||(82,927)|||||||(82,927)|
|At 31May||2021||||||||||||||601,219|||||||684,146|
|The deferred|||income
is expected||||to|be|recognised|||||as follows:||||||||||
||||||||||||||||||2021||||||2020|
|||||||||||||||||||F|||||f|
|Within 1|year|||||||||||||||82,927|||||||82,927|
|Within 1|to||2years|||||||||||||82,927|||||||82,927|
|Within
2|to||5years|||||||||||||248,781|||||||248,781|
|After more|||than|five years||||||||||||186,584|||||||269,511|
|||||||||||||||||601,219|||||||684,146|
|Funds||||||||||||||||||||||||
|Current year|||||Brought||Income|||||Expenditure|||Gains/|||Transfers||||Balance carried||
||||forward at 1||||||||||||(losses)|||||||forward at 31||
|||||June 2020|||||||||||||||||||May 2021|
||||||f||||||||||||||||f||f|
|Unrestricted||||||||||||||||||||||||
|funds||||||||||||||||||||||||
|General||||3,171,139|||144,327||||||(27,471)|||||(23,893)|||||3,264,102|
|funds||||||||||||||||||||||||
|Pension fund||||(114,460)|||||||||(1,259)||(1,046)||||23,893||||(92,872)|
|reserve||||||||||||||||||||||||
|||||3,056,679|||144,327||||||(28,730)||(1,046)||||||||3,171,230|
|Restricted||||||||||||||||||||||||
|funds||||||||||||||||||||||||
|5BP|||||173,267|||4,407|||||(15,742)||27,904||||||||189,836|
||||||173,267|||4,407|||||(15,742)||27,904||||||||189,836|
|Total||||3,229,946|||148,734||||||(44,472)||26,858||||||||3,361,066|
|Designated||funds||||||||||||||||||||||
|Within general funds|||||is a pension||scheme|||reserve||||with a deficit of||f92,872 (2020:f114,460)||||||||
|relating to|a|defined|||benefit scheme|||provision|||||(see note 12).|||||||||||
|The transfers|||shown||above reflect contributions||||||||paid to reduce the liability
in||||||the year.|||||
|Restricted|funds|||||||||||||||||||||||
|The Scholarship||||and
Bursary||fund||now||consists||||of funds|that|were||originally|||raised||by the|
|Westonbirt||Association,
Westonbirt's|||||||old||girls'|||association,|to|give||financial||support|||to the|
|children of|former|||pupils ortheir husbands|||||||who||had lost their||lives|in the Second||||World||War; over||
|the
years|these|||funds
have||been||supplemented||||||by donations||from||former||pupils|||and
the|
|restriction|on the recipients|||||of awards||||was||changed
to reflect||||the|absence|||of|any|qualifying||
|Comparative
year
Unrestricted|Brought
forward at 1
June 2019
f|Income|Expenditure|Gains/
(losses)|Transfers
f|Balance carried
forward at 31
May 2020
f|
|---|---|---|---|---|---|---|
|funds|||||||
|General
funds|3,077,794|144,327|(31,327)||(19,655)|3,171,139|
|Pension fund
reserve|(135,505)||(1,652)|(262)|19,655|(114,460)|
||2,942,289|144,327|(29,675)|(262)||3,056,679|
|Restricted|||||||
|funds|||||||
|SBP|186,328
186,328|4,417
4,417|(8,008)
(8,008)|(9,470)
(9,470)||173,267
173,267|
|Total|3,128,617|148,744|(37,683)|(9,732)||3,229,946|
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|Current year|||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||f|f|f|
|Tangible fixed|assets||3,900,000||3,900,000|
|Investments||||190,113|190,113|
|Net current assets|||(110,286)|(277)|(110,563)|
|Long term liabilities||and provisions|(618,484)||(618,484)|
|Total|||3,171,230|189,836|3,361,066|
|Comparative|year||Unrestricted|Restricted|Total|
||||f|f|f|
|Tangible fixed|assets||3,900,000||3,900,000|
|Investments||||173,524|173,524|
|Net current assets|||(117,506)|(257)|(117,763)|
|Long term liabilities||and provisions|(725,815)||(725,815)|
|Total|||3,056,679|173,267|3,229,946|
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|From|1|April|2021|to|31|January|2025:|f11,243,000|per|annum|(payable
monthly
on 1st April)|and increasing|by 3% each|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
##
|From|1|April|2016|to|30|September|2025:|f12,945,440 per annum|(payable
monthly
on 1st April)|and increasing|by 3% each|
|---|---|---|---|---|---|---|---|---|---|---|---|
|From|1|April|2016|to|30|September|2028:|654,560 per annum|(payable
monthly
on 1st April)|and increasing|by 3% each|
||||31|May 2021|31May 2020|31May 2019|
|---|---|---|---|---|---|---|
|||||(fs)|(fs)|(fs)|
|Present value of provision||||92,872|114,460|135,505|
|Reconciliation|of|opening and closing provisions|||||
||||||Period Ending|Period Ending|
||||||31May 2021|31May 2020|
||||||(fs)|(fs)|
|Provision at the|start ofthe period||||114,460|135,505|
|Unwinding
ofthe||discount factor (interest expense)|||1,259|1,652|
|Deficit contribution||paid|||(23,893)|(22,959)|
|Remeasurements
assumptions||—impact of any change|in||1,046|262|
|Remeasurements||—amendments
to the contribution|||||
|schedule|||||||
||||||92,872|114,460|
##
|||||Period Ending|Period Ending|Period Ending|
|---|---|---|---|---|---|---|
|||||31May 2021|31|May 2020|
|||||(fs)||(fs)|
|interest expense||||1,259||1,652|
|Remeasurements|—impact of any|change|in assumptions|1,046||262|
|Remeasurements|—amendments|to the|contribution||||
|schedule|||||||
##
|||31May 2021|31May 2020|31May 2019|
|---|---|---|---|---|
|||%per annum|%per annum|%per annum|
|Rate|ofdiscount|0.61|1.24|1.34|
##
##
||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||2020
f|2020
f|2020
f|
|Income from:||||||
|Investments||||||
|Rents receivable|||144,327||144,327|
|Investment
income||||4,417|4,417|
|Total|||144,327|4,417|148,744|
|Expenditure
on:||||||
|Raising funds||||||
|Finance costs|||1,547|2,008|3,555|
|C haritabl e activities||||||
|Provision ofeducation|||28,128|6,000|34,128|
|Total|||29,675|8,008|37,683|
|Net gains/(losses)
on|investments|||(9,470)|(9,470)|
|Net income/(expenditure)|||114,652|(13,061)|101,591|
|Transfers between
funds||||||
|Other recognised gains/(losses)||||||
|Actuarial
losses on defined benefit
pension scheme|||(262)||(262)|
|Net movement
on funds|||114,390|(13,061)|101,329|
|Fund balance brought
2019|forward|at 1June|2,942,289|186,328|3,128,617|
|Fund balance carried|forward|at 31|3,056,679|173,267|3,229,946|
|May 2020||||||