| 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 |
| **Reference and Administrative ** | Details of the Foundation, its Trustees and Advisers | Details of the Foundation, its Trustees and Advisers |
|---|---|---|
| Clerk to the Foundation | 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 | (Resigned November 2022) | |
| R Burke | ||
| P Bainbridge | ||
| J Walter | ||
| S Tenison | ||
| C Jourdain | ||
| A Phuong | ||
| M G Mathieson | (Resigned November2022) | |
| N Iqbal | (Appointed October 2022) | |
| L Swanson | (Appointed February 2023) | |
| S Adams | (Appointed May 2023) | |
| Registered Charity Number | 312694 | |
| Bankers | National Westminster Bank Pic | |
| P O Box 3171 | ||
| 290 Walworth Road | ||
| London | ||
| SE17 3RQ | ||
| COIF Charities Deposit Fund | ||
| Senator House | ||
| 85 Queen Victoria Street | ||
| London | ||
| EC4V4ET | ||
| Investment Managers | Rathbones Investment Management Ltd | |
| 159 New Bond Street | ||
| London | ||
| W1S2UD | ||
| Independent Examiners | Tim O'Connor ACA FCCA DChA | |
| SB Audit LLP | ||
| Chartered Accountants | ||
| 820 The Crescent | ||
| Colchester Business Park | ||
| Colchester | ||
| Essex | ||
| C04 9YQ |
| Major | |||||
|---|---|---|---|---|---|
| General | School | ||||
| Income | Capital | Project | Total | Total | |
| Fund | Fund | Fund | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Income from: | |||||
| Investment income | |||||
| Dividends on investments | 27,950 | - | - | 27,950 | 26,613 |
| Interest on bank deposit | 177 | - | - | 177 | 4 |
| Other income | 200 | - | - | 200 | 250 |
| Total income | 28,327 | - | - | 28,327 | 26,867 |
| Charitable activities | |||||
| Ground rent | 600 | - | - | 600 | 600 |
| School amenities | 35,800 | - | - | 35,800 | 41,004 |
| Audit fee | 1,230 | - | - | 1,230 | 1,265 |
| Raising funds | |||||
| Investment Managers’ fees | - | 7,622 | - | 7,622 | 6,160 |
| Total expenditure | 37,630 | 7,622 | - | 45,252 | 49,029 |
| Realised and unrealised | |||||
| investment (losses)/gains | - | (58,890) | - | (58,890) | 93,537 |
| Net (expenditure)/income | (9,303) | (66,512) | - | (75,815) | 71,375 |
| Transfer between funds | 19,305 | 695 | (20,000) | - | - |
| Net movements in funds | 10,002 | (65,817) | (20,000) | (75,815) | 71,375 |
| Total funds brought forward | |||||
| at 1 April 2022 | 4,600 | 1,163,329 | 20,000 | 1,187,929 | 1,116,554 |
| Total funds carried forward | |||||
| At 31 March 2023 | £ 14,602 | £ 1,097,512 | £ - £ 1,112,114 £ 1,187,929 |
| Notes | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ £ | £ | ||
| Fixed assets | |||
| School buildings Investments Deposit fund |
2a 2b 2b |
27,332 1,070,180 10,000 |
27,332 1,135,997 10,000 |
| £ 1,107,612 £ 1.173,329 | |||
| Current assets | |||
| Debtors Cash at bank |
4 5 |
2,610 6,154 |
2,935 14,859 |
| 7,764 | 17,794 | ||
| Current liabilities | |||
| Creditors duewithin the year | 6 | 3,162 | 3,194 |
| Net current assets | 4,602 | 14,600 | |
| Total net assets | E 1,112,114 £ 1,187,929 | ||
| The Funds of the Charity | |||
| General Income Fund Capital Fund |
7 8 |
14,602 1,097,612 |
4,600 1,163,329 |
| Major School Project Fund | 9 | • | 20,000 |
| Total Funds | 10 | £1,112,114 £ 1,187,929 |
| 2 | Fixed assets | ||
|---|---|---|---|
| 2023 | 2022 | ||
| a) | Used by the Charity | ||
| School buildings at historiccost | £ 27,332 | £ 27,332 | |
| 2023 | 2022 | ||
| £ | £ | ||
| **b) ** | Investments at market value | 1,024,194 | 1,113,757 |
| Cash with Rathbones Investment Management | 45,986 | 22,240 | |
| COIF Charities Deposit Fund | 10,000 | 10,000 | |
| £ 1,080,180£1,145,997 | |||
| Historical cost of Investments | £ 799,953 | £ 790,500 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Income | Market | Income | Market | ||||
| for year | Cost | value | for year | Cost | value | ||
| £ | £ | £ | % | £ | £ | £ | % |
| UK Government Securities, | Index | ||||||
| Linked and Fixed Interest | |||||||
| 4,237 | 139,138 | 123,786 | 15.16 | 4,965 | 125,696 | 127,142 | 18.66 |
| Quoted Company Equity and other Securities | |||||||
| 15,270 | 370,995 | 548,584 | 54.63 | 14,880 | 368,684 | 579,071 | 55.91 |
| **Investment Companies, Commodities and ** | Funds | ||||||
| 8,443 | 289,820 | 351,824 | 30.21 | 6,768 | 296,120 | 407,544 | 25.43 |
| Total £ 27,950 | £ 799,953 | £ 1,024,194 | 100.00 | £26,613 | £ 790,500 £ 1,113,757 | 100.00 |
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Market value at 1 April 2022 | 1,113,757 | 1,013,231 | |
| Acquisitions | 140,644 | 76,936 | |
| Disposals | (171,317) | (69,947) | |
| Net (loss)/gain on revaluation at 31 March | (58,890) | 93,537 | |
| Market value at 31 March 2023 | £ 1,024,194 | £ 1,113,757 | |
| 4 | Debtors | ||
| 2023 | 2022 | ||
| Accrued income | £2,610 | £ 2,935 | |
| 5 | Cash at Bank | ||
| 2023 | 2022 | ||
| £ | £ | ||
| General fund: | |||
| Current account | 4,904 | 14,609 | |
| Deposit account | 250 | 250 | |
| £5,154 | £ 14,859 | ||
| 6 | Creditors | ||
| 2023 | 2022 | ||
| Accruals | £3,162 | £3,194 |
| General Income Fund | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Balance as at 1 April 2022 | 4,600 | 11,260 |
| Net Incoming resources | (9,303) | (16,002) |
| Transfer (to)/from capital fund | (695) | 9,342 |
| Transferfrom major school project fund | 20,000 | - |
| Balance as at 31 March 2023 | £ 14,602 | £ 4,600 |
| Capital Fund | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Balance as at 1 April 2022 | 1,163,329 | 1,085,294 |
| Realised and unrealised gains | (58,890) | 93,537 |
| Investment Managers fees | (7,622) | (6,160) |
| Transfer from/(to) general income fund | 695 | (9,342) |
| Balance as at 31 March 2023 | £ 1,097,512 £ 1,163,329 |
| Major School Project Fund | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Balance as at 1 April 2022 | 20,000 | 20,000 |
| Transfer to general income fund | (20,000) | - |
| Balance as at 31 March 2023 | £ - | £ 20,000 |
| Charities | Net | ||||
|---|---|---|---|---|---|
| Freehold | Deposit | Current | |||
| Property | Fund | Investments | Assets | Total | |
| £ | £ | £ | £ | £ | |
| Income Fund | - | 10,000 | - | 4,602 | 14,602 |
| Capital Fund | 27,332 | - | 1,070,180 | - | 1,097,512 |
| Major School | - | - | - | - | - |
| Project Fund | |||||
| Total | £ 27,332 | £ 10,000 | £ 1,070,180 | £ 4,602 | £ 1,112,114 |
| 2023 | 2022 | |
|---|---|---|
| Financial assets | ||
| Financial assets measured at fair value through SOFA | £ **1,024,194 ** | £1,113,757 |
| Financial assets measured at amortised cost | £2,610 | £2,935 |
| 2023 | 2022 | |
| Financial liabilities | ||
| Financial liabilities measured at amortised cost | £ 1,932 | £ 2,054 |