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2022-03-31-accounts
|
Pages |
| Trustees’ report |
1 - 5 |
| Independent Examiners report |
6 - 7 |
| Statement of financial activities |
8 |
| Balance sheet |
9 |
| Notes to the financial statements |
10 - 17 |
| Clerk to the Foundation |
P Bainbridge, supported by Angela Phoung |
P Bainbridge, supported by Angela Phoung |
| Correspondence address |
149 Court Lane, London, SE21 7EE |
|
| Trustees |
K Ludlow |
(Chair) |
|
R J Moreland |
(Retired May 2022) |
|
A Brown |
|
|
D Mortimer |
|
|
P Hullah |
|
|
R Burke |
|
|
P Bainbridge |
|
|
J Walter |
|
|
S Tenison |
|
|
C Jourdain |
|
|
A Phuong |
|
|
M G Mathieson |
|
| Registered Charity Number |
312694 |
|
| Bankers |
National Westminster Bank Pic |
|
|
PO Box 3171 |
|
|
290 Walworth Road |
|
|
London |
|
|
SE17 3RQ |
|
|
COIF Charities Deposit Fund |
|
|
Senator House |
|
|
85 Queen Victoria Street |
|
|
London |
|
|
EC4V 4ET |
|
| Investment Managers |
Rathbones Investment Management Ltd |
|
|
159 New Bond Street |
|
|
London |
|
|
W1S2UD |
|
| Independent Examiners |
Tim O'Connor ACA FCCA DChA |
|
|
Scrutton Bland LLP |
|
|
Chartered Accountants |
|
|
820 The Crescent |
|
|
Colchester Business Park |
|
|
Colchester |
|
|
Essex |
|
|
C049YQ |
|
|
|
|
Major |
|
|
|
General |
|
School |
|
|
|
Income |
Capital |
Project |
Total |
Total |
|
Fund |
Fund |
Fund |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Investment income |
|
|
|
|
|
| Dividends on investments |
26,613 |
|
|
26,613 |
22,506 |
| Interest on bank deposit |
4 |
- |
- |
4 |
12 |
| Other income |
250 |
- |
- |
250 |
2,500 |
| Total income |
26,867 |
- |
- |
26,867 |
25,018 |
| Charitable activities |
|
|
|
|
|
| Ground rent |
600 |
- |
- |
600 |
600 |
| School amenities |
41,004 |
- |
- |
41,004 |
36,019 |
| Remuneration of Clerk and Treasurer |
- |
- |
- |
- |
3,150 |
| Audit fee |
1,265 |
- |
- |
1,265 |
625 |
| Raising funds |
|
|
|
|
|
| Investment Managers’ fees |
- |
6,160 |
- |
6,160 |
7,849 |
| Total expenditure |
42,869 |
6,160 |
- |
49,029 |
48,243 |
| Realised and unrealised |
|
|
|
|
|
| investment gains |
- |
93,537 |
- |
93,537 |
157,652 |
| Net (expenditure)/income |
(16,002) |
87,377 |
- |
71,375 |
134,427 |
| Transfer between funds |
9,342 |
(9,342) |
- |
- |
- |
| Net movements in funds |
(6,660) |
78,035 |
- |
71,375 |
134,427 |
| Total funds brought forward |
|
|
|
|
|
| at 1 April 2021 |
11,260 |
1,085,294 |
20,000 |
1,116,554 |
982,127 |
| Total funds carried forward |
|
|
|
|
|
| At 31 March 2022 |
£ 4,600 |
£ 1,163,329 |
£ 20,000 £ 1,187,929 £ 1 ,116,554 |
|
|
|
|
2022 |
2021 |
|
|
£ £ |
£ |
| Fixed assets |
|
|
|
| School buildings |
2a |
27,332 |
27,332 |
| Investments |
2b |
1,135,997 |
1,047,962 |
| Deposit fund |
2b |
**10,000 ** |
10,000 |
|
|
£ 1,173,329 £ 1,085,294 |
|
| Current assets |
|
|
|
| Debtors |
4 |
2,935 |
2,792 |
| Cash at bank |
5 |
14,859 |
30,983 |
|
|
17,794 |
33.775 |
| Current liabilities |
|
|
|
| Creditors due within the year |
6 |
3,194 |
2,515 |
| Net current assets |
|
14,600 |
31,260 |
| Total net assets |
|
£ 1,187,929 £ 1.116,554 |
|
| The Funds of the Charity |
|
|
|
| General Income Fund |
7 |
4,600 |
11.260 |
| Capital Fund |
8 |
1,163,329 |
1.085,294 |
| Major School Project Fund |
9 |
20,000 |
20,000 |
| Total Funds |
10 |
£ 1,187,929 £ 1,116.554 |
|
| 2 |
Fixed assets |
|
|
|
|
|
|
2022 |
2021 |
| a) |
Used by the Charity |
|
|
|
|
School buildings at historic cost |
|
£ 27,332 |
£ 27,332 |
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
| b) |
Investments at market value |
|
1,113,757 |
1,013,231 |
|
Cash with Rathbones Investment Management |
|
22,240 |
34,731 |
|
COIF Charities Deposit Fund |
|
10,000 |
10,000 |
|
|
**£ ** |
1,145,997 |
£ 1,057,962 |
|
Historical cost of Investments |
|
£ 790,500 |
£ 780,203 |
|
|
2022 |
|
|
|
2021 |
|
| Income |
|
Market |
|
Income |
|
Market |
|
| for year |
Cost |
value |
|
for year |
Cost |
value |
|
| £ |
£ |
£ |
% |
£ |
£ |
£ |
% |
| UK Government Securities, Index |
|
|
|
|
|
|
|
| Linked and Fixed Interest |
|
|
|
|
|
|
|
| 4,965 |
125,696 |
127,142 |
18.66 |
4,769 |
156,936 |
159,274 |
21.19 |
| Quoted Company Equity and other Securities |
|
|
|
|
|
|
|
| 14,880 |
368,684 |
579,071 |
55.91 |
11,616 |
364,653 |
499,219 |
51.61 |
| **Investment Companies, Commodities and ** |
|
|
Funds |
|
|
|
|
| 6,768 |
296,120 |
407,544 |
25.43 |
6,121 |
258,614 |
354,738 |
27.20 |
| Total £26,613 |
**£790,500 ** |
£ 1,113,757 |
**100.00 ** |
£ 22,506 £ 780,203 £ 1,013,231 |
|
|
100.00 |
|
2022 |
2021 |
|
£ |
£ |
| Market value at 1 April 2021 |
1,013,231 |
861,310 |
| Acquisitions |
76,936 |
144,905 |
| Disposals |
(69,947) |
(150,636) |
| Net gain on revaluation at 31 March |
93,537 |
157,652 |
| Market value at 31 March 2022 |
£ 1,113,757 |
£ 1,013,231 |
| Debtors |
|
|
|
2022 |
2021 |
| Accrued income |
£ 2,935 |
£ 2,792 |
| Cash at Bank |
|
|
|
2022 |
2021 |
|
£ |
£ |
| General fund: |
|
|
| Current account |
14,609 |
30,733 |
| Deposit account |
250 |
250 |
|
£ 14,859 |
£ 30,983 |
| Creditors |
|
|
|
2022 |
2021 |
| Accruals |
£3,194 |
£2,515 |
| General Income Fund |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Balance as at 1 April 2021 |
11,260 |
31,692 |
| Net Incoming resources |
(16,002) |
(15,376) |
| Transfer from capital fund |
9,342 |
(5,056) |
| Balance as at 31 March 2022 |
£ 4,600 |
£ 11,260 |
| Capital Fund |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Balance as at 1 April 2021 |
1,085,294 |
930,435 |
| Realised and unrealised gains |
93,537 |
157,652 |
| Investment Managers fees |
(6,160) |
(7,849) |
| Transfer to general income fund |
(9,342) |
5,056 |
| Balance as at 31 March 2022 |
£ 1,163,329 £ 1,085,294 |
|
|
|
2022 |
2021 |
|
|
£ |
£ |
| Balance as at |
1 April 2021 |
20,000 |
20,000 |
| Balance as at |
31 March 2022 |
£20,000 |
£ 20,000 |
|
|
Charities |
|
Net |
|
|
Freehold |
Deposit |
|
Current |
|
|
Property |
Fund |
Investments |
Assets |
Total |
|
£ |
£ |
£ |
£ |
£ |
| Income Fund |
- |
10,000 |
- |
(6,400) |
4,600 |
| Capital Fund |
27,332 |
- |
1,135,997 |
- |
1,163,329 |
| Major School |
- |
- |
- |
20,000 |
20,000 |
| Project Fund |
|
|
|
|
|
| Total |
£ 27,332 |
£ 10,000 |
£ 1,135,997 |
£ 14,600 |
£ 1,187,929 |
|
2022 |
2021 |
| Financial assets |
|
|
| Financial assets measured at fair value through SOFA |
£ **1,113,757 ** |
£ 1,013,231 |
| Financial assets measured at amortised cost |
£ 2,935 |
£ 2,792 |
|
2022 |
2021 |
| Financial liabilities |
|
|
| Financial liabilities measured at amortised cost |
£ 2,054 |
£ 1,890 |