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2023-04-05-accounts

Charity number: 312690

Sir Walter St. John's Educational Charity

Unaudited

Trustees' report and financial statements

For the year ended 5 April 2023

Sir Walter St. John's Educational Charity

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1 - 2
Trustees' report 3 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 24

Sir Walter St. John's Educational Charity

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 5 April 2023

Trustees V Asante, Nominated Trustee (Nominee, Wandsworth Council) (appointed 22 July
2022)
S Beg, Nominated Trustee (Nominee, Wandsworth Council) (appointed 18 May
2023)
K Briscoe, Nominated Trustee (Nominee, Wandsworth Council) (resigned 22 July
2022)
J Radcliffe, OBE, Nominated Trustee (Nominee, Wandsworth Council), Chair of
Finance and Investment Committee
R Summerfield, Nominated Trustee (Nominee, Wandsworth Council) (resigned 22
July 2022)
Cllr. M Tiller, Nominated Trustee (Nominee, Wandsworth Council) (appointed 22
July 2022)
D Wagner, Nominated Trustee (Nominee, Wandsworth Council) (resigned 22 July
2022)
S Wilkie, Nominated Trustee (Nominee, Wandsworth Council)
Cllr. L Bray, Nominated Trustee (Nominee, Lambeth Council)
B Fairbank, Nominated Trustee (Nominee, Sinjuns Association), Vice Chair of
Trustees
Cllr. D Robson, Nominated Trustee (Nominee, Lambeth Council) (appointed 20
October 2022)
G Allen, Co-opted Trustee
M Bates, Co-opted Trustee, Chair of Grants Committee
D Daytes, Co-opted Trustee
S Rackham, Co-opted Trustee
W Speck, Co-opted Trustee, Chair of Trustees
M Stratton CBE, Co-opted Trustee
Canon S Butler, Ex-officio Trustee

Charity registered number 312690 Principal office St Mary's School 7 St Joseph's Street London SW8 4EN Accountants Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Page 1

Sir Walter St. John's Educational Charity

Reference and administrative details of the Charity, its Trustees and advisers (continued) For the year ended 5 April 2023

Investment Advisors

Cazenove Capital Management 12 Moorgate London EC2R 6DA

Page 2

Sir Walter St. John's Educational Charity

Trustees' report For the year ended 5 April 2023

The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2022 to 5 April 2023. The Trustees confirm that the annual report and financial statements of the Charity comply with 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) (effective 1 January 2019).

Objectives and activities

a. Policies and objectives

The principal object of the Charity is to promote the education and training of children and young persons under the age of 25 years who are resident in the London Boroughs of Wandsworth or Lambeth and who are in need of financial assistance. Particular preference is given to those who are resident in the former Metropolitan Borough of Battersea. There have been no changes to the objects since the last annual report.

The Charity’s grants programme supports activities benefiting disadvantaged children. The Charity invites applications for grants from organisations that will improve the life chances of children and young people in the greatest educational need by filling gaps in funding from other sources. The Charity also aims to play a proactive role by initiating activities in selected fields and providing support for several years. At present, the focus for this activity is on secondary school age refugees and asylum seekers and supporting young people’s mental health.

The Charity also sets aside a sum each year for grants to individual students, which is usually allocated as block grants distributed by local colleges.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The Charity continues to give priority to activities benefiting the following groups of local children and young people:

In addition, the Charity welcomed applications for projects that supported young people experiencing challenges as a result of the Covid-19 pandemic.

The Charity employs a part time Manager who in addition to managing the day to day operations of the Charity, pro-actively facilitates strategic work to develop educational initiatives and networks that meet the Charity’s objectives. The Manager is considered to be the key management personnel of the Charity.

Page 3

Sir Walter St. John's Educational Charity

Trustees' report (continued) For the year ended 5 April 2023

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

The Charity's funding delivered a range of projects including:

d. Main activities undertaken to further the Charity's purposes for the public benefit

Small Education Grants

Small Education Grants are awarded to local voluntary and community organisations to support educational activities and projects which address community needs. The upper limit for awards under this scheme is £1,500. Before releasing grant payments to organisations through the Small Education Grants programme, the Charity requires a completed project monitoring form, a written report on activities and details of expenditure incurred.

£5k to £10k Grants

The purpose of the Charity's £5k to £10k grants is to enable small organisations to build capacity. These grants may be used to support:

Trustees hope that these grants may also lead some organisations to apply for a larger strategic grant at a later date.

Strategic Grants

During 2022/23, strategic grants were paid to Katherine Low Settlement, CARAS and Mosaic Clubhouse.

The grant to Katherine Low Settlement has enabled continued provision of 1-1 educational mentoring support and advocacy for refugee pupils. The CARAS grant was used to carry out educational outreach with young refugees and unaccompanied minors in Wandsworth. The grant to Mosaic Clubhouse supports young people with mental health challenges to access education.

Organisations funded through the strategic grants programme are required to submit quarterly written reports and an annual summary of expenditure. They are also invited to meet with the Trustees to discuss their projects. The strategic grant organisations continue to meet and work together, forming an Advisory Group, to share information, experiences and funding knowledge to support each other.

Funding for individuals

South Thames College was awarded a block grant of £5,000 which was distributed to 14 students, all of whom were either lone parents or potentially homeless young people aged under 25 living in Wandsworth or Lambeth.

Page 4

Sir Walter St. John's Educational Charity

Trustees' report (continued) For the year ended 5 April 2023

Achievements and performance

a. Main achievements of the Charity

During 2022/23, the level of grants awarded was £203,323 (2021/2022: £154,444). Details of grants agreed during the year are included at note 6. During the year, the Charity also continued to make significant payments to three Strategic Grants, which had been committed to in previous financial years.

During 2022/23, the Charity made grant payments to 25 organisations totalling £191,759 (2021/2022: 29 organisations totalling £174,395) including grant payments brought forward from the previous financial year. Further information on grants awarded during the current year can be obtained from the Charity’s office which is based at St Mary’s Primary School.

Partnership work

The Charity was pleased to build upon its partnership work with the Friends of Battersea Park and received a donation of £3,600 for a project to create science resources that link to the Primary National Curriculum and to Battersea Park. The Friends of Battersea Park have continued to offer support by funding educational opportunities in the park for a local Battersea secondary school.

Trustees were also pleased to facilitate an Early Years reading project delivered by Learn to Love to Read, which was supported by funding from Battersea Matters.

Climate Change initiatives

A generous donation of £30k received in the prior year from an anonymous donor enabled the Charity to promote and award grants to local schools and community groups to support educational projects that tackle issues arising from Climate Change. These projects took place throughout 2022 and culminated in a celebration sharing event at the end of the year.

On the strength of the success of these environmental projects, a further donation of £30k has been made to the Charity to continue to build on and progress support for educational environmental projects in 2023/24.

Trinity Fields

The Charity owns the freehold of Trinity Playing Field. This lease brings in an annual rent of £75,000 which enables the Charity to significantly increase its grant giving. The playing fields are managed by the charity Trinity Fields Trust (TFT) who are working to increase the use of the Fields for disadvantaged young people and to prioritise diversity of usage by engaging more with local community groups.

Progress on developing use of the playing fields in line with TFT's charitable aims, is constrained by the need to generate revenue from local private schools and others who pay, in order to meet the high capital and running costs of playing fields e.g. drainage, building renovation, new safety issues, etc., as well as rent. Capacity is limited but TFT are working to find ways to derive yet more benefit for the community.

Financial review

a. 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.

Page 5

Sir Walter St. John's Educational Charity

Trustees' report (continued) For the year ended 5 April 2023

b. Reserves policy

The Trustees look to maintain the minimum level of unrestricted reserves that will permit it to maintain its day to day activities. There are occasions when the level of the unrestricted reserves is higher than the Trustees would ideally like to hold due to the availability of suitable beneficiaries.

The Charity is dependent on income from its investments. During 2022/23, this amounted to £200,810 (2021/22: £181,603).

In the financial year 2022/23, the Charity continued to employ Cazenove Capital Management as investment advisors and managers. The Charity aims to diversify its portfolio on the best professional advice so as to provide the greatest return sustainable in real terms at the least achievable risk.

The Trustees have a policy that the unrestricted funds not required to meet immediate commitments nor representing the revaluation of fixed assets held by the Charity ('the free reserves') should be maintained at a level equivalent to not less than half the projected annual income from the Charity's investments.

At the 5 April 2023, the Charity held reserves of £5,901,406 (2021/2022: £6,246,013) which are held within Endowment funds of £5,774,631 (2021/2022: £6,080,827), Unrestricted funds of £124,275 (2021/2022: £135,185) and Restricted funds of £2,500 (2021/2022: £30,001).

Paintings

The Charity owns three paintings (last valuation £42,000) on long term loan to Lydiard House, former country home of the St John family. These paintings are insured by Lydiard House at no cost to the Charity.

Structure, governance and management

a. Constitution

The Charity is constituted under a Trust deed dated 28 February 1992, which was amended following an Order made by the Charity Commission on 15 March 2004 (under section 26 of the Charities Act 1993). Sir Walter St. John's Educational Charity is a registered charity number 312690.

The management of the Charity is the responsibility of the Trustees who are appointed under the terms of the Trust deed, as amended. The amendments allow for the appointment of nineteen Trustees, of whom nine are co-opted, nine are nominated (five by Wandsworth Borough Council, two by Lambeth Borough Council, one by the Senate of the University of London and one by the Sinjuns Association) and one serves ex officio.

When recruiting new Trustees, the Charity looks for individuals with relevant skills, experience and knowledge of the local area. Newly appointed Trustees receive a comprehensive induction pack. The pack includes a range of documents including an introduction to the Charity, a copy of the governing scheme, details of the Charity’s objectives, information about grant giving policies and procedures and a link to the Charity Commission’s online guidance ‘The Essential Trustee: What you need to know’. The Charity supports the training and relevant development of Trustees where appropriate.

Ordinary full meetings of the Trustees are held three times a year, and the proceedings of committee meetings are reported to these meetings for confirmation. The Grants Committee meets four times a year, and has delegated authority to approve grants of up to £10,000. The Finance and Investment Committee meets twice a year to consider financial issues and review the performance of the Charity's investments. Any matters arising from the Playing Fields lease are dealt with either at Trustee meetings or at the Finance and Investment meetings. Office holders are appointed and the membership of committees agreed at the first meeting of the Trustees in each calendar year.

The Charity employs a part time Manager to deal with all day to day matters, including the processing and handling of applications prior to consideration by the Grants Committee, and the administration of grants. A significant contribution is made by the Manager to those organisations the Charity supports financially and some who are not given grants but who are provided with advice, guidance and support. Where the Charity is not able to assist the Manager is often able to signpost applicants to other funders.

Page 6

Sir Walter St. John's Educational Charity

Statement of financial activities For the year ended 5 April 2023

Note
Income and
endowments from:
Donations and legacies
3
Investments
4
Total income and
endowments
Expenditure on:
Raising funds
5
Charitable activities
7
Total expenditure
Net expenditure before
net (losses)/gains on
investments
Net (losses)/gains on
investments
Net
(expenditure)/income
Transfers between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Endowment
funds
2023
£
-
-
-
18,666
-
18,666
(18,666)
(287,530)
(306,196)
-
(306,196)
6,080,827
(306,196)
5,774,631		 Restricted
funds
2023
£
7,840
-
7,840
-
35,340
35,340
(27,500)
-
(27,500)
(1)
(27,501)
30,001
(27,501)
2,500		 Unrestricted
funds
2023
£
8,600
200,810
209,410
-
220,321
220,321
(10,911)
-
(10,911)
1
(10,910)
135,185
(10,910)
124,275		 Total
funds
2023
£
16,440
200,810
217,250
18,666
255,661
274,327
(57,077)
(287,530)
(344,607)
-
(344,607)
6,246,013
(344,607)
5,901,406		 Total
funds
2022
£
35,000
181,603
216,603
18,801
201,548
220,349
(3,746)
368,067
364,321
-
364,321
5,881,692
364,321
6,246,013

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 24 form part of these financial statements.

Page 9

2023 2022
Note
Fixedassets
Tangibleassets 12 1,148 512
Investments 14 5,054,684 5,375,140
investmentproperty 13 1,000,000 1,000,000
6,055,832 6,375,652
Currentassets
Debtors 15 2,117 1,446
Cashatbankandinhand 59,072 72,816
61,189 74,262
Creditors:amountsfallingduewithinone
year		 16 (132,923) (140,168)
Netcurrentliabilities (71,734) (65,906)
Totalassetslesscurrentliabilities 5,984,098 6,309,746
Creditors:amountsfallingdueaftermore
thanoneyear		 17 (82,692) (63,733)
Totalnetassets 5,901,406 6,246,013
Charityfunds
Endowmentfunds
Restrictedfunds
Unrestrictedfunds		 18
18
18		 5,774,631
2,500
124,275		 6,080,827
30,001
135,185
Totalfunds 5,901,406 6,246,013

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

1. General information

The Charity is constituted under a Trust deed dated 28 February 1992, which was amended following an Order made by the Charity Commission on 15 March 2004 (under section 26 of the Charities Act 1993). Sir Walter St. John's Educational Charity is a registered charity number 312690. Its principal office is St Mary's School, 7 St Joseph's Street, London, SW8 4EN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Sir Walter St. John's Educational Charity 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.

2.2 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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.3 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. Support costs are those that assist the work of the Charity but do not directly represent charitable activities. Support costs are apportioned between activities on a basis consistent with the use of resources being 7.5% grants to individuals, 71.25% strategic grants and 21.25% small education grants.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

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.

Page 11

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

2. Accounting policies (continued)

2.3 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings - 10% Straight line
Computer equipment - 25% Straight line

2.5 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.

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the Statement of financial activities.

Investments held as fixed assets are shown at cost less provision for impairment.

2.6 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.

2.7 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.

2.8 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.

Page 12

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

2. Accounting policies (continued)

2.8 Liabilities and provisions (continued)

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.

2.9 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.

2.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 Fund accounting

General funds are 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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

3. Income from donations and legacies

Donations
Donations		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
7,840
8,600
Restricted
funds
2022
Unrestricted
funds
2022
£
£
30,000
5,000		 Total
funds
2023
£
16,440
Total
funds
2022
£
35,000

Page 13

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

4. Investment income

Rental of playing fields
Investment income
Interest receivable
Rental of playing fields
Investment income
Interest receivable
Investment management costs
Investment management fees
Investment management fees		 Unrestricted
funds
2023
£
75,000
121,328
4,482
200,810
Unrestricted
funds
2022
£
75,822
105,766
15
181,603
Endowment
funds
2023
£
18,666
Endowment
funds
2022
£
18,801		 Total
funds
2023
£
75,000
121,328
4,482
200,810
Total
funds
2022
£
75,822
105,766
15
181,603
Total
funds
2023
£
18,666
Total
funds
2022
£
18,801

5. Investment management costs

Page 14

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

6. Analysis of grants

Grants, Grants to individuals
Grants, Strategic grants
Grants, Small education grants
Grants, Grants to individuals
Grants, Strategic grants
Grants, Small education grants		 Grants to
Institutions
2023
£
-
111,648
82,993
194,641
Grants to
Institutions
2022
£
-
90,000
59,444
149,444		 Grants to
Individuals
2023
£
8,682
-
-
8,682
Grants to
Individuals
2022
£
5,000
-
-
5,000		 Total
funds
2023
£
8,682
111,648
82,993
203,323
Total
funds
2022
£
5,000
90,000
59,444
154,444

Page 15

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

6. Analysis of grants (continued)

The Charity has made the following material grants to institutions during the year:

Name of institution
Brixton Community
Caius House
CARAS
Carers Hub Lambeth
Christ Church Primary School
Chesterton Primary School
Climate ED
Fast
Katherine Low Settlement
Learn to Love to Read
Parallel Youth Enterprise
Sacred Heart Primary School
Sen Talk CIC
South London Refugee Association
South Thames College
The Baytree Centre
Triangle Adventure Playground Association
Other grants to institutions		 2023
£
-
-
-
20,000
-
-
5,000
5,000
90,000
35,000
-
-
9,475
-
5,000
10,000
9,797
189,272
5,369
194,641		 2022
£
7,725
4,530
90,000
9,881
6,370
2,000
-
1,500
-
10,000
3,000
2,000
7,720
1,470
5,000
-
-
151,196
(1,752)
149,444

Page 16

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

7. Analysis of expenditure on charitable activities

Summary by fund type

Grants to individuals
Strategic grants
Small education grants
Grants to individuals
Strategic grants
Small education grants		 Restricted
funds
2023
£
-
-
35,340
35,340
Restricted
funds
2022
£
-
-
10,000
10,000		 Unrestricted
funds
2023
£
12,599
148,838
58,884
220,321
Unrestricted
funds
2022
£
8,543
123,560
59,445
191,548		 Total
2023
£
12,599
148,838
94,224
255,661
Total
2022
£
8,543
123,560
69,445
201,548

8. Analysis of expenditure by activities

Grants to individuals
Strategic grants
Small education grants		 Grant
funding of
activities
2023
£
8,682
111,648
82,993
203,323		 Support
costs
2023
£
3,917
37,190
11,231
52,338		 Total
funds
2023
£
12,599
148,838
94,224
255,661

Page 17

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

8. Analysis of expenditure by activities (continued)

Grants to individuals
Strategic grants
Small education grants		 Grant
funding of
activities
2022
£
5,000
90,000
59,444
154,444		 Support
costs
2022
£
3,543
33,560
10,001
47,104		 Total
funds
2022
£
8,543
123,560
69,445
201,548

Analysis of support costs

Staff costs
Rent
Printing, post & stationary
Computer costs
Sundry expenses
Insurance
Subscriptions
Travelling
Consultancy fees
Depreciation
Governance costs		 Grants to
individuals
2023
£
2,778
539
16
32
39
21
132
-
168
19
173
3,917		 Strategic
grants
2023
£
26,391
5,131
148
280
365
201
1,254
5
1,587
182
1,646
37,190		 Small
education
grants
2023
£
7,872
1,530
119
83
113
60
374
22
513
54
491
11,231		 Total
funds
2023
£
37,041
7,200
283
395
517
282
1,760
27
2,268
255
2,310
52,338

Page 18

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

8. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Staff costs
Rent
Printing, post & stationary
Computer costs
Sundry expenses
Insurance
Subscriptions
Travelling
Consultancy fees
Depreciation
Governance costs		 Grants to
individuals
2022
£
2,603
540
11
15
37
26
93
1
43
20
154
3,543		 Strategic
grants
2022
£
24,730
5,130
105
148
357
241
884
11
410
181
1,363
33,560		 Small
education
grants
2022
£
7,376
1,530
31
44
103
71
264
3
122
54
403
10,001		 Total
funds
2022
£
34,709
7,200
147
207
497
338
1,241
15
575
255
1,920
47,104

9. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,310 (2022 - £1,920).

10. Staff costs

Wages and salaries
Contribution to defined contribution pension schemes		 2023
£
33,292
3,749
37,041		 2022
£
31,172
3,537
34,709

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Administration 1 1

No employee received remuneration amounting to more than £60,000 in either year.

Page 19

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

11. Trustees' remuneration and expenses

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

During the year ended 5 April 2023, no Trustee expenses have been incurred (2022 - £NIL).

12. Tangible fixed assets

Cost or valuation
At 6 April 2022
Additions
At 5 April 2023
Depreciation
At 6 April 2022
Charge for the year
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022		 Fixtures and
fittings
£
1,305
-
1,305
1,305
-
1,305
-
-		 Computer
equipment
£
9,559
891
10,450
9,047
255
9,302
1,148
512		 Total
£
10,864
891
11,755
10,352
255
10,607
1,148
512

13. Investment property

Valuation
At 6 April 2022
At 5 April 2023		 Freehold
investment
property
£
1,000,000
1,000,000

The 2023 valuations were made by the trustees, on an open market value for existing use basis.

Page 20

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

14. Fixed asset investments

Cost or valuation
At 6 April 2022
Additions
Disposals
Revaluations
At 5 April 2023
Net book value
At 5 April 2023
At 5 April 2022
15.
Debtors
Due within one year
Prepayments and accrued income
16.
Creditors: Amounts falling due within one year
Accruals and deferred income
Grants accrued - individual
Grants accrued - institutional
17.
Creditors: Amounts falling due after more than one year
Accrued grants payable to institutions		 Listed
investments
£
5,204,334
865,131
(532,051)
(689,660)
4,847,754
4,847,754
5,204,334		 Other fixed
asset
investments
£
170,806
36,124
-
-
206,930
206,930
170,806
2023
£
2,117
2,117
2023
£
4,033
-
128,890
132,923
2023
£
82,692		 Total
£
5,375,140
901,255
(532,051)
(689,660)
5,054,684
5,054,684
5,375,140
2022
£
1,446
1,446
2022
£
3,883
5,000
131,285
140,168
2022
£
63,733

Page 21

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

18. Statement of funds

Statement of funds - current year

Unrestricted
funds
General Funds
Endowment
funds
Endowment
Funds
Restricted
funds
Friends of
Battersea Park
Environmental
and climate
change
educational
support
Battersea
Society
Total of funds		 Balance at 6
April 2022
£
135,185
6,080,827
1
30,000
-
30,001
6,246,013		 Income
£
209,410
-
2,840
-
5,000
7,840
217,250		 Expenditure
£
(220,321)
(18,666)
(2,840)
(30,000)
(2,500)
(35,340)
(274,327)		 Transfers
in/out
£
1
-
(1)
-
-
(1)
-		 Gains/
(Losses)
£
-
(287,530)
-
-
-
-
(287,530)		 Balance at 5
April 2023
£
124,275
5,774,631
-
-
2,500
2,500
5,901,406

Restricted funds

The Friends of Battersea Park fund related to funds received for a grant to St John Bosco School which was paid during the year.

The Battersea Society fund relates to funds received for a grant to Learn to Love to Read, the first installment of which was paid during the year.

Page 22

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Endowment funds
Endowment Funds
Restricted funds
The Friends of Battersea Park
Environmental and climate
change educational support
Total of funds		 Balance at
1 April 2021
£
140,130
5,731,561
10,001
-
10,001
5,881,692		 Income
£
186,603
-
-
30,000
30,000
216,603		 Expenditure
£
(191,548)
(18,801)
(10,000)
-
(10,000)
(220,349)		 Gains/
(Losses)
£
-
368,067
-
-
-
368,067		 Balance at
5 April 2022
£
135,185
6,080,827
1
30,000
30,001
6,246,013

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Endowment
funds
2023
£
-
4,774,631
1,000,000
-
-
-
5,774,631		 Restricted
funds
2023
£
-
-
-
2,500
-
-
2,500		 Unrestricted
funds
2023
£
1,148
280,053
-
58,689
(132,923)
(82,692)
124,275		 Total
funds
2023
£
1,148
5,054,684
1,000,000
61,189
(132,923)
(82,692)
5,901,406

Page 23

Sir Walter St. John's Educational Charity

Notes to the financial statements For the year ended 5 April 2023

19. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Endowment
funds
2022
£
-
5,080,827
1,000,000
-
-
-
6,080,827		 Restricted
funds
2022
£
-
-
-
30,001
-
-
30,001		 Unrestricted
funds
2022
£
512
294,313
-
44,261
(140,168)
(63,733)
135,185		 Total
funds
2022
£
512
5,375,140
1,000,000
74,262
(140,168)
(63,733)
6,246,013

20. Contingent liabilities

The Charity has contingent liabilities in reference to grants approved by Trustees but which have not been communicated to beneficiaries. The total amount not recognised in the financial statements is £169,475 (2022: £nil).

21. Pension commitments

The Charity contributes to a stakeholder pension scheme for its current employee. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost represents contributions payable by the Charity to the fund and amounted to £3,749 (2022: £3,537). There were no amounts due to the scheme at 5 April 2023.

22. Operating lease commitments

At 5 April 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
2,400
-
2,400		 2022
£
7,200
2,400
9,600

23. Related party transactions

The Charity has a Register of Interests which it keeps as a formal record of Trustees' relevant interests. The Register is updated on a regular basis.

There have been no related party transactions requiring disclosure in 2023.

Page 24