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|Directors|||JCB Birdwood|||||
|---|---|---|---|---|---|---|---|
||||JR Brown|||||
||||RA Portlock|||||
||||Reverend
PJ Whitworth|||(Chair)||
|Company|Secretary||MBM Porter|||||
|Registered|Office||Stable Cottage|||||
||||Eckington
Road|||||
||||Birlingham|||||
||||Pershore|||||
||||Worcestershire|||||
||||WR10 3DA|||||
|Principal|Office||Stable Cottage|||||
||||Eckington
Road|||||
||||Birlingham|||||
||||Pershore|||||
||||Worcestershire|||||
||||WR10 3DA|||||
|Solicitors|||Charles
Russell Speechlys||||LLP|
||||Compass
House|||||
||||Lypiatt
Rd|||||
||||Cheltenham|||||
||||GL50 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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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||||Year|Year|
||||Notes|Unrestricted|Restricted|31May|31May|
|||||2022|2022|2022|2021|
|||||f|f|f||
|Income from:||||||||
|Investments||||||||
|Rents receivable||||144,327||144,327|144,327|
|Investment
income|||||4,064|4,064|4,407|
|Total income||||144,327|4,064|148,391|148,734|
|Expenditure
on:||||||||
|Raising funds||||||||
|Finance costs||||1,430|1,797|3,227|3,059|
|Charitable
activities||||||||
|Support of provision||ofeducation||(19,488)|5,000|(14,488)|41,413|
|Total expenditure||||(18,058)|6,797|(11,261)|44,472|
|Net gains/(losses)|on|investments|||(13,599)|(13,599)|27,904|
|Net income / (expenditure)||||162,385|(16,332)|146,053|132,166|
|Other recognised|gains/(losses)|||||||
|Actuarial
gains /(|losses) on defined|||||||
|benefit pension scheme||||588||588|(1,046)|
|Net Movement
in Funds||||162,973|(16,332)|146,641|131,120|
|Fund balance brought||forward at||||||
|1June 2021||||3,171,230|189,836|3,361,066|3,229,946|
|Fund balance carried||forward at||3,334,203|173,504|3,507,707|3,361,066|
|31May 2022||||||||
||||||Notes|2022|2021|
|---|---|---|---|---|---|---|---|
||||||||f|
|Tangible
Fixed Assets||||||3,900,000|3,900,000|
|Investments||||||||
|Other Investments||||||173,744|190,113|
|||||||173,744|190,113|
|Current Assets||||||||
|Debtors||||||959|1,260|
|Cash at bank|and|in|hand|||12,828|11,853|
|||||||13,787|13,113|
|Creditors: amounts|||falling|due within one year||(118,669)|(123,676)|
|Net Current|Liabilities|||||(104,882)|(110,563)|
|Total Assets|less|Current||Liabilities||3,968,862|3,979,550|
|Creditors: amounts|||falling|due after more than one year||(440,785)|(525,612)|
|Provisions|||||12|(20,370)|(92,872)|
|Net Assets||||||3,507,707|3,361,066|
|Funds|||||10|||
|Restricted
funds||||||173,504|189,836|
|Unrestricted|funds|||||3,334,203|3,171,230|
|Total funds||||||3,507,707|3,361,066|
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|Current year||||31May|
|---|---|---|---|---|
|||Unrestricted|Restricted funds|2022|
|||funds||Total|
|||f|f|f|
|Raising funds|||||
|Finance costs||1,430|1,797|3,227|
|||1,430|1,797|3,227|
|Charitable
activities|||||
|Bursary awards|||5,000|5,000|
|Support costs||22,379||22,379|
|Amendment
to pension||(50,687)||(50,687)|
|contribution
schedule|||||
|Governance
costs||8,820||8,820|
|||(19,488)|5,000|(14,488)|
|Total expenditure||(18,058)|6,797|(11,261)|
|Comparative
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|
|Expenditure
includes:|||||
||||31May|31May|
||||2022|2021|
||||f|f|
|Auditors'
remuneration|(excluding|VAT) for:|||
|Audit services —current|year||5,350|5,000|
|Other services|||500||
##
|taff Costs|||||||
|---|---|---|---|---|---|---|
||||||31May|31May|
||||||2022|2021|
||||||f|f|
|Total staff costs||comprised:|||||
|Wages and|salaries||||500|440|
|Socia I security costs|||||||
|Pensions cost|||||2,618|1,259|
|Amendment|to|pension contribution||schedule|(50,687)||
||||||(47,569)|1,699|
|The average|numbers||ofemployees|in the period were:|2022|2021|
||||||Number|Number|
|Management||S.administration|||1|1|
||||||||31May|31May|
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||f|f|
|Aggregate|employment|benefits|of|key|management|personnel|500|440|
##
##
||Freehold|Total|
|---|---|---|
||property||
|Cost|||
|At 1June 2021 and 31May 2022|5,823,282|5,823,282|
|Depreciation|||
|At 1June 2021 and 31May 2022|1,923,282|1,923,282|
|Net Book Value|||
|At 1June 2021 and 31May 2022|3 900000|3 900000|
|||2022|2021|
|---|---|---|---|
|||f|f|
|Balance brought
forward||190,113|173,524|
|Proceeds from disposals||(37,937)|(37,718)|
|Purchases||35,951|28,412|
|Net gains/(losses)||(13,599)|27,904|
|Movement
on investment|cash|(785)|(2,009)|
|Balance carried forward||173,743|190,113|
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||f|f|
||UK Equities|||||36,594|46,258|
||UK Bonds|||||5,617|7,225|
||Overseas|Bonds and Equities||||118,017|118,904|
||Property|and|other|||9,435|12,868|
||Cash|||||4,080|4,858|
|||||||173,743|190,113|
||Debtors|||||||
|||||||2022|2021|
|||||||f|f|
||Prepayments||and|accrued income||959|1,260|
|||||||959|1,260|
|7|Creditors:|Amounts||falling due within one year||||
|||||||2022|2021|
|||||||f|f|
||Accruals|and|deferred||income|118,669|123,676|
|||||||118,669|123,676|
|8|Creditors:|Amounts||falling due after more than one year||||
|||||||2022|2021|
|||||||f|f|
||Deferred|rental income (note 9)||||435,365|518,292|
||Accruals|||||5,420|7,320|
|||||||440,785|525,612|
##
##
|||||||||||||||||2022||||2021|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||||f|||||
|At 1June|2021||||||||||||||601,219|||||684,146|
|Released to income
At 31May 2022|||||in the|year|||||||||(82,927)
518,292|||||(82,927)
601,219|
|The deferred||income|||is expected|||to be recognised||||as follows:|||||||||
|||||||||||||||||2022||||2021|
|||||||||||||||||f||||f|
|Within 1|year||||||||||||||82,927|||||82,927|
|Within 1|to 2|years|||||||||||||82,927|||||82,927|
|Within
2|to 5|years|||||||||||||248,781|||||248,781|
|After more than||||five|years||||||||||103,657|||||186,584|
||||||||||||||||518,292|||||601,219|
|Funds|||||||||||||||||||||
|Current year||||Brought||||Income|Expenditure||||||Gains/|Transfers|||Balance carried||
||||forward||at 1|||||||||(losses)||||||forward at31|
|||||June|2021
f|||||||||||||f||May 2022
f|
|Unrestricted|||||||||||||||||||||
|funds|||||||||||||||||||||
|General
funds||||3,264,102||||144,327|||18,558||||||(72,414)|||3,354,573|
|Pension
fund||||(92,872)||||||||(500)|||588||72,414|||(20,370)|
|reserve|||||||||||||||||||||
|||||3,171,230||||144,327|||18,058||||588|||||3,334,203|
|Restricted|||||||||||||||||||||
|funds|||||||||||||||||||||
|5BP||||189,836||||4,064|||(6,797)|||(13,599)||||||173,504|
|||||189,836||||4,064|||(6,797)|||(13,599)||||||173,504|
|Total||||3,361,066||||148,391|||11,261|||(13,011)||||||3,507,707|
|Designated|funds||||||||||||||||||||
|Within general
funds
is|||||a pension||scheme reserve||||with a deficit|||off20,370(2021:f92,872)|||||||
|relating to a|defined
benefit scheme provision|||||||||(see||note 12).|||||||||
|The transfers
shown above reflect contributions
the amendment
to the contribution
schedule.|||||||||||paid to reduce|||the liability
in|||the|year|as well as||
|Restricted funds|||||||||||||||||||||
|The Scholarship,
Bursary
and
Prizes fund
Westonbirt
Association,
Westonbirt's
old|||||||||consists of funds
girls'
association,||||that were
to give|||originally
financial||raised
support||by the
to the|
|children offormer|||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|
|Comparative|Brought|Brought|Income|Expenditure|Gains/|Transfers|Balance carried|
|---|---|---|---|---|---|---|---|
|year|forward|at 1|||(losses)||forward at 31|
||June|2020|||||May 2021|
|||E|||||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||||||||
|SBP|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|
|nalysis of net assets||between|funds at|31May||||
|Current year|||Unrestricted
f||Restricted
f||Total
f|
|Tangible fixed assets||||3,900,000|||3,900,000|
|Investments|||||173,744||173,744|
|Net current|(liabilities)/assets|||(104,642)||(240)|(104,882)|
|Long term liabilities||and provisions||(461,155)|||(461,155)|
|Total||||3,334,203|173,504||3,507,707|
|Comparative|year|||Unrestricted
f|Restricted
f||Total|
|Tangible
fixed assets||||3,900,000|||3,900,000|
|Investments|||||190,113||190,113|
|Net current|(liabilities)/assets|||(110,286)||(277)|(110,563)|
|Long term liabilities||and provisions||(618,484)|||(618,484)|
|Total||||3,171,230|189,836||3,361,066|
##
##
##
##
||||31|May 2022|31May 2021|31May 2020|
|---|---|---|---|---|---|---|
|||||(fs)|(fs)|(fs)|
|Present value of provision||||20,370|92,872|114,460|
|Reconciliation of|opening and closing provisions||||||
||||||Period Ending|Period Ending|
||||||31May 2022|31May 2021|
||||||(fs)|(fs)|
|Provision at the start ofthe period|||||92,872|114,460|
|Unwinding
ofthe|discount factor|(interest expense)|||500|1,259|
|Deficit contribution|paid||||(21,727)|(23,893)|
|Remeasurements
assumptions|—impact of any|change|in||(588)|1,046|
|Remeasurements
schedule|—amendments|to the contribution|||(50,687)||
||||||20,370|92,872|
|||||Period Ending|Period Ending|
|---|---|---|---|---|---|
|||||31May 2022|31May 2021|
|||||(fs)|(fs)|
|Interest expense||||500|1,259|
|Remeasurements|—impact of any|change|in assumptions|(588)|1,046|
|Remeasurements
schedule|—amendments|to the|contribution|(50,687)||
|Assumptions||||||
||||31May 2022|31May 2021|31May 2020|
||||%per annum|%per annum|%per annum|
|Rate ofdiscount|||2.87|0.61|1.24|
##
##
||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||2021|2021|2021|
||||||f|f|f|
|Income from:||||||||
|Investments||||||||
|Rents receivable|||||144,327||144,327|
|Investment
income||||||4,407|4,407|
|Total|||||144,327|4,407|148,734|
|Expenditure
on:||||||||
|Raising funds||||||||
|Finance costs|||||1,317|1,742|3,059|
|Charitable
activities||||||||
|Provision ofeducation|||||27,413|14,000|41,413|
|Total|||||28,730|15,742|44,472|
|Net gains/(losses)||on||investments||27,904|27,904|
|Net income/(expenditure)|||||115,597|16,569|132,166|
|Transfers between|||funds|||||
|Other recognised||gains/(losses)||||||
|Actuarial
losses|on||defined benefit||(1,046)||(1,046)|
|pension scheme||||||||
|Net movement|on||funds||114,551|16,569|131,120|
|Fund balance brought||||forward at 1June|3,056,679|173,267|3,229,946|
|2020||||||||
|Fund balance carried||||forward at 31|3,171,230|189,836|3,361,066|
|IVIay 2021||||||||