```
REGISTERED CHARITY NUMBER: 312706
```
## **`Report of the Trustees and`**
```
Unaudited Financial Statements for the Year Ended 31 March 2021
```
## **`for`**
## **`Raine's School Foundation`**
```
Deeks Evans
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU
```
```
Raine's School Foundation
```
```
Contents of the Financial Statements
for the Year Ended 31 March 2021
```
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`2`|
|**`Independent Examiner's Report`**||`3`||
|**`Statement of Financial Activities`**||`4`||
|**`Balance Sheet`**||`5`||
|**`Notes to the Financial Statements`**|`6`|`to`|`11`|
|**`Detailed Statement of Financial Activities`**||`12`||
```
Raine's School Foundation
```
## **`Report of the Trustees for the Year Ended 31 March 2021`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
TheprincipalobjectiveoftheCharityistoprovidefinancialassistancetoformerpupilsofRaine'sFoundationSchool, who
in the opinion of the Trustees, would benefit by enabling them to continue with their education.
```
## **`Significant activities`**
```
The main activity of the Charity is to assist former pupils of the Raine's Foundation School via payment of bursaries.
```
```
The Charity does not undertake fundraising activities and income is derived from an investment portfolio.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Summary`**
```
During the year the Charity assisted 57 students in their education by way of bursaries.
```
```
The school closed on 31 August 2020.
```
```
The Trustees, along with their professional advisors, are currently reviewing the next steps for the charity.
```
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
Thereservespolicyisthattheexistingassetsareretainedtoproduceincomewhichiswhollyutilisedtosupport the
existing activities.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
```
## **`Recruitment and appointment of new trustees`**
```
Trustee appointed Foundation Governors of the School are automatically trustees of the Charity.
```
```
TheCharityCommissionersdopermittheappointmentofotherTrusteeswhocanprovidespecialskillsor background
which is of benefit to the Charity.
```
## **`Public benefit`**
```
The Trustees have had due regard to the guidance published by the Charities Commission with regards to public benefit.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Charity number`**
```
312706
```
## **`Principal address`**
```
32 Roffeys Close
Copthorne
West Sussex
RH10 3QY
```
## **`Trustees`**
```
Ms C Day
Ms T Fox ACII FSFA MPMI
A V Groves
J P L Edwards (resigned 29.9.21)
Rev J Olanipekun
Ms T McCormack
M A Mole
C Turnbull (appointed 7.9.20)
G R Clubb
N Dennis (appointed 1.12.20) (resigned 29.9.21)
P Dooley (appointed 29.9.21)
```
```
Page 1
```
```
Raine's School Foundation
```
## **`Report of the Trustees for the Year Ended 31 March 2021`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
```
Independent Examiner
Deeks Evans
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU
```
```
Approved by order of the board of trustees on 11 January 2022 and signed on its behalf by:
```
```
Ms T Fox ACII FSFA MPMI - Trustee
```
```
Page 2
```
```
Independent Examiner's Report to the Trustees of
Raine's School Foundation
```
## **`Independent examiner's report to the trustees of Raine's School Foundation`**
```
IreporttothecharitytrusteesonmyexaminationoftheaccountsofRaine'sSchoolFoundation(theTrust)forthe year
ended 31 March 2021.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandincarrying out
myexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Deeks Evans
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU
```
```
11 January 2022
```
```
Page 3
```
## **`Raine's School Foundation`**
## **`Statement of Financial Activities for the Year Ended 31 March 2021`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Investment income`
`2`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`3`
**`Charitable activities`**
`Bursaries awarded`
`Other charitable donations`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
`20`
`73,711`
`73,731`
`40,998`
`32,350`
`-`
`154,397`
`227,745`
`120,391`
`(33,623)`
`1,143,152`
`1,109,529`|`Restricted`
`fund`
`£`
`-`
`439`
`439`
`49`
`-`
`-`
`-`
`49`
`1,745`
`2,135`
`21,730`
`23,865`|`2021`
`Total`
`funds`
`£`
`20`
`74,150`
`74,170`
`41,047`
`32,350`
`-`
`154,397`
`227,794`
`122,136`
`(31,488)`
`1,164,882`
`1,133,394`|`2020`
`Total`
`funds`
`£`
`3,415`
`75,014`
`78,429`
`15,472`
`38,130`
`20,035`
`83,059`
`156,696`
`(69,825)`
`(148,092)`
`1,312,974`
`1,164,882`|
|---|---|---|---|---|
```
The notes form part of these financial statements
```
```
Page 4
```
## **`Raine's School Foundation`**
## **`Balance Sheet 31 March 2021`**
|`Notes`
**`FIXED ASSETS`**
**`Investments`**
`Investments`
`8`
`Investment property`
`9`
**`CURRENT ASSETS`**
`Debtors`
`10`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`fund`
`£`
`595,744`
`489,672`
`1,085,416`
`4,535`
`23,494`
`28,029`
`(3,916)`
`24,113`
`1,109,529`
`1,109,529`|`Restricted`
`fund`
`£`
`13,767`
`-`
`13,767`
`-`
`10,098`
`10,098`
`-`
`10,098`
`23,865`
`23,865`|`2021`
`Total`
`funds`
`£`
`609,511`
`489,672`
`1,099,183`
`4,535`
`33,592`
`38,127`
`(3,916)`
`34,211`
`1,133,394`
`1,133,394`
`1,109,529`
`23,865`
`1,133,394`|`2020`
`Total`
`funds`
`£`
`608,741`
`489,672`
`1,098,413`
`650`
`68,220`
`68,870`
`(2,401)`
`66,469`
`1,164,882`
`1,164,882`
`1,143,152`
`21,730`
`1,164,882`|
|---|---|---|---|---|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon11January2022and were
signed on its behalf by:
```
```
T Fox ACII FSFA MPMI - Trustee
```
```
The notes form part of these financial statements
```
```
Page 5
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements for the Year Ended 31 March 2021`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Charities
Act2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withthe exception
of investments which are included at market value, as modified by the revaluation of certain assets.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
```
```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
```
## **`Intangible fixed assets`**
```
The intangible fixed assets consist of a coat of arms.
```
```
The coat of arms has been depreciated to a value of £nil.
```
## **`Investment property`**
```
The valuation of the investment property has been done on the best estimate of the Trustees.
```
```
Any surplus or deficit on revaluation is shown in the SOFA as 'Other recognised gains/losses'.
```
```
The property is not depreciated as it is held for its investment potential.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Thereisonerestrictedfundinexistence-TheMillieGlucksteinFund.Thisisfundexiststoprovideaprizeto one
girl each year.
```
## **`Pension costs and other post-retirement benefits`**
```
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension
scheme are charged to the Statement of Financial Activities in the period to which they relate.
```
## **`Investments`**
```
Investment income is included in the SOFA when receivable.
```
```
Listed investments are included in the balance sheet at their mid-market value at the year end.
```
```
Any changes in the market value of listed investments is shown in the SOFA as 'Other recognised gains/losses'.
```
## **`Irrecoverable VAT`**
```
VAT is not recoverable by the Charity and is therefore included in the relevant costs in the SOFA.
```
```
continued...
```
```
Page 6
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`**
## **`2. INVESTMENT INCOME`**
|`Rents received`
`Fixed asset investment income`
`Deposit account interest`
**`RAISING FUNDS`**
**`Investment management costs`**
`Portfolio management`
`Property rental expenses`|`2021`
`£`
`52,858`
`21,291`
`1`
`74,150`
`2021`
`£`
`2,417`
`38,630`
`41,047`|`2020`
`£`
`47,559`
`27,449`
`6`|
|---|---|---|
|||`75,014`|
|||`2020`
`£`
`2,786`
`12,686`|
|||`15,472`|
## **`3. RAISING FUNDS Investment management costs`**
## **`4. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2021norfortheyear ended
31 March 2020.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
```
## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Bursaries awarded`
`Other charitable donations`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**|`Unrestricted`
`fund`
`£`
`3,415`
`74,508`
`77,923`
`15,421`
`38,130`
`20,035`
`83,059`
`156,645`
`(68,935)`
`(147,657)`
`1,290,809`|`Restricted`
`fund`
`£`
`-`
`506`
`506`
`51`
`-`
`-`
`-`
`51`
`(890)`
`(435)`
`22,165`|`Total`
`funds`
`£`
`3,415`
`75,014`
`78,429`
`15,472`
`38,130`
`20,035`
`83,059`
`156,696`
`(69,825)`
`(148,092)`
`1,312,974`|
|---|---|---|---|
```
continued...
```
```
Page 7
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`**
|**`5.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`TOTAL FUNDS CARRIED FORWARD`**
`1,143,152`
`21,730`
**`6.`**
**`INDEPENDENT EXAMINERS FEE`**
`2021`
`£`
`Independent Examiners Fee`
`2,832`
**`7.`**
**`INTANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2020 and 31 March 2021`
**`AMORTISATION`**
`At 1 April 2020 and 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
**`8.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2020`
`Disposals`
`Revaluations`
`At 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 March 2021 is represented by:`
`Valuation in 2021`|**`5.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`TOTAL FUNDS CARRIED FORWARD`**
`1,143,152`
`21,730`
**`6.`**
**`INDEPENDENT EXAMINERS FEE`**
`2021`
`£`
`Independent Examiners Fee`
`2,832`
**`7.`**
**`INTANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2020 and 31 March 2021`
**`AMORTISATION`**
`At 1 April 2020 and 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
**`8.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2020`
`Disposals`
`Revaluations`
`At 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 March 2021 is represented by:`
`Valuation in 2021`|**`5.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`TOTAL FUNDS CARRIED FORWARD`**
`1,143,152`
`21,730`
**`6.`**
**`INDEPENDENT EXAMINERS FEE`**
`2021`
`£`
`Independent Examiners Fee`
`2,832`
**`7.`**
**`INTANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2020 and 31 March 2021`
**`AMORTISATION`**
`At 1 April 2020 and 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
**`8.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2020`
`Disposals`
`Revaluations`
`At 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 March 2021 is represented by:`
`Valuation in 2021`|**`5.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`TOTAL FUNDS CARRIED FORWARD`**
`1,143,152`
`21,730`
**`6.`**
**`INDEPENDENT EXAMINERS FEE`**
`2021`
`£`
`Independent Examiners Fee`
`2,832`
**`7.`**
**`INTANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 April 2020 and 31 March 2021`
**`AMORTISATION`**
`At 1 April 2020 and 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
**`8.`**
**`FIXED ASSET INVESTMENTS`**
**`MARKET VALUE`**
`At 1 April 2020`
`Disposals`
`Revaluations`
`At 31 March 2021`
**`NET BOOK VALUE`**
`At 31 March 2021`
`At 31 March 2020`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 March 2021 is represented by:`
`Valuation in 2021`|`Total`
`funds`
`£`
`1,164,882`|`Total`
`funds`
`£`
`1,164,882`|
|---|---|---|---|---|---|
|||||||
|||||||
||||`2021`||`2020`|
||||`£`||`£`|
||||`2,832`||`2,400`|
|||||||
|||||`Coat of`
`arms`
`£`
`8,225`
`8,225`
`-`
`-`
`Listed`
`investments`
`£`
`608,741`
`(121,366)`
`122,136`
`609,511`
`609,511`
`608,741`
`Listed`
`investments`
`£`
`609,511`||
```
continued...
```
```
Page 8
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`**
## **`9. INVESTMENT PROPERTY`**
```
Theinvestmentpropertyat4EastArbourStreetwasrevaluedon10December2012byConways Chartered
Surveyors.
```
```
TheCharityalsoownsthelandandbuildingsatApproachRoad,BethnalGreenfromwhichtheRaines Foundation
UpperSchooloperatesaswellasaportionofthelandinOldBethnalGreenRoadonwhichtheLowerSchool is
sited. The remaining land at the Lower School are owned by the London Diocese Board of Schools.
```
```
TheCharitydoesnotreceiveanyrentfromtheschoolandthepremisesisincludedintheaccountsata valuation
of £nil.
```
```
TheCharitydoeshoweverreceiverentfromtheoldcaretakersbungalowonthelowerschoolsitewhichislet on
a commercial basis separate from the school buildings.
```
## **`10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Other debtors`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Taxation and social security`
`Other creditors`
**`12.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`At 1.4.20`
`£`
`1,143,152`
`21,730`
`1,164,882`|`2021`
`£`
`4,535`
`2021`
`£`
`-`
`620`
`3,296`
`3,916`
`Net`
`movement`
`in funds`
`£`
`(33,623)`
`2,135`
`(31,488)`|`2020`
`£`
`650`
`2020`
`£`
`1`
`-`
`2,400`
`2,401`
`At`
`31.3.21`
`£`
`1,109,529`
`23,865`|`2020`
`£`
`650`|
|---|---|---|---|---|
|||||`2020`
`£`
`1`
`-`
`2,400`|
|||||`2,401`|
||||`1,133,394`||
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`73,731`
`439`
`74,170`|`Resources`
`expended`
`£`
`(227,745)`
`(49)`
`(227,794)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`120,391`
`(33,623)`
`1,745`
`2,135`
`122,136`
`(31,488)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`120,391`
`(33,623)`
`1,745`
`2,135`
`122,136`
`(31,488)`|
|---|---|---|---|---|
|||||`(31,488)`|
```
continued...
```
```
Page 9
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`**
## **`12. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`At 1.4.19`
`£`
`1,290,809`
`22,165`
`1,312,974`|`Net`
`movement`
`in funds`
`£`
`(147,657)`
`(435)`
`(148,092)`|`At`
`31.3.20`
`£`
`1,143,152`
`21,730`|
|---|---|---|---|
||||`1,164,882`|
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`77,923`
`506`
`78,429`|`Resources`
`expended`
`£`
`(156,645)`
`(51)`
`(156,696)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(68,935)`
`(147,657)`
`(890)`
`(435)`
`(69,825)`
`(148,092)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(68,935)`
`(147,657)`
`(890)`
`(435)`
`(69,825)`
`(148,092)`|
|---|---|---|---|---|
|||||`(148,092)`|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`At 1.4.19`
`£`
`1,290,809`
`22,165`
`1,312,974`|`Net`
`movement`
`in funds`
`£`
`(181,280)`
`1,700`
`(179,580)`|`At`
`31.3.21`
`£`
`1,109,529`
`23,865`|
|---|---|---|---|
||||`1,133,394`|
```
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are
as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Millie Gluckstein Fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`151,654`
`945`
`152,599`|`Resources`
`expended`
`£`
`(384,390)`
`(100)`
`(384,490)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`51,456`
`(181,280)`
`855`
`1,700`
`52,311`
`(179,580)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`51,456`
`(181,280)`
`855`
`1,700`
`52,311`
`(179,580)`|
|---|---|---|---|---|
|||||`(179,580)`|
```
continued...
```
```
Page 10
```
```
Raine's School Foundation
```
## **`Notes to the Financial Statements - continued for the Year Ended 31 March 2021`**
## **`13. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 March 2021.
```
## **`14. ULTIMATE CONTROLLING PARTY`**
```
The Charity is controlled by the Trustees.
```
```
Page 11
```
```
Raine's School Foundation
```
## **`Detailed Statement of Financial Activities for the Year Ended 31 March 2021`**
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
**`Investment income`**
`Rents received`
`Fixed asset investment income`
`Deposit account interest`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Investment management costs`**
`Portfolio management`
`Property rental expenses`
**`Charitable activities`**
`Grants to institutions`
`Grants to individuals`
**`Other`**
`Wages`
`Pensions`
`Stationery, printing & adverts`
`Sundry expenses`
`Independent examiners fee`
`Legal & professional fees`
`Anniversary commemoration`
`IT expenses`
`Total resources expended`
**`Net expenditure`**|`2021`
`£`
`20`
`52,858`
`21,291`
`1`
`74,150`
`74,170`
`2,417`
`38,630`
`41,047`
`-`
`32,350`
`32,350`
`19,431`
`1,030`
`1,060`
`1,368`
`2,832`
`119,283`
`-`
`9,393`
`154,397`
`227,794`
`(153,624)`|`2020`
`£`
`3,415`
`47,559`
`27,449`
`6`
`75,014`
`78,429`
`2,786`
`12,686`
`15,472`
`20,065`
`38,100`
`58,165`
`-`
`-`
`150`
`-`
`2,400`
`57,564`
`22,945`
`-`
`83,059`
`156,696`
`(78,267)`|
|---|---|---|
```
This page does not form part of the statutory financial statements
```
```
Page 12
```