**Newcomen Collett Foundation** _Charity No. 312804_ # **Financial Statements** for the year ended 31[st] August 2023 **Newcomen Collett Foundation** _Index_ Page Governors, Officers and Advisers ................................................................................................................ 1 Report of the Governors ...................................................................................................................... 2 to 7 Report of the Independent Examiner ........................................................................................................... 8 Statement of Financial Activities ......................................................................................................... 9 to 10 Balance Sheet ........................................................................................................................................... 11 Statement of Cashflows ............................................................................................................................. 12 Notes to the Accounts ....................................................................................................................... 13 to 20 Analysis of Major Grants ............................................................................................................................ 20 1 ## **Newcomen Collett Foundation** _Governors, Officers and Advisers_ GOVERNORS (are appointed by resolution of the remaining governors for a term of 4 years) |||FIRST APPOINTED| |---|---|---| |a b c|Alderman Tim McNally (Chair)|_14.12.17_| |a c|E Wingfield Esq (Vice Chair)|_10.03.22_| |a c|A Eden Esq|_28.09.17_| |a|R Lovell Esq|_15.03.99_| |a b|R V Ashdown Esq|_22.09.05_| ||A Leiffheidt Esq|_11.12.08_| |a|Mrs J Goodland|_13.12.13_| |a|P MacFarlane Esq|_26.09.14_| ||Canon M Rawson|_10.03.16_| |a|Mrs Neha Jain|_09.03.17_| ||Ms Janet Simpson|_13.12.18_| ||a
Member of the Investment Committee|| ||b
Member of the Audit Committee|| ||c
Member of the Governor Selection Committee|| All governors are also trustees of St Mary Newington Educational Foundation, charity number 312317. OFFICERS Ms C M de Cintra BA ACA Ms A Lamont _Clerk to the Governors Field Officer_ PRINCIPAL OFFICE Marshall House Tel : 020 7407 2967 66 Newcomen Street e-mail: clerk@newcomencollett.org.uk London SE1 1YT BANKERS Unity Trust Bank plc Nine Brindley Place Birmingham B1 2HB Charity Bank Ltd Fosse House, 182 High Street Tonbridge TN9 1BE SOLICITORS Cripps LLP 22 Mount Ephraim Tunbridge Wells TN4 8AS INDEPENDENT EXAMINER Mrs C Williams FCCA Verdant Accountants 20-22 Wenlock Road London N1 7GU INVESTMENT MANAGERS CCLA 85 Queen Victoria Street London ECV4 4ET 2 ## **Newcomen Collett Foundation** _Report of the Governors for 2023_ ## **1. OBJECTIVES AND ACTIVITIES** ## **Purposes of the Foundation** The Foundation was formed by the merger in 1988 of two much older charities. The Elizabeth Newcomen Educational Foundation was formed in 1685 and John Collett Educational Foundation in 1711. Both charities had been set up for the benefit of young people in and around Southwark. The charitable purposes of the Newcomen Collett Foundation are: - a) relieving children with learning difficulties attending the Newcomen Centre at Guy's Hospital (The Newcomen Centre is now based at St Thomas' Hospital.). - b) making yearly payments to the Governors of the Parish School of the Cathedral Church of St Saviour and St Mary Overie, Southwark towards the rent, alterations and repairs to the premises of the School. - c) making payments to the Governors of any other Church of England Voluntary Aided School in the London Borough of Southwark towards the rent, alterations and repairs to the premises of the School. - d) promoting education of persons under the age of 25 years, resident in the London Borough of Southwark. On 31[st] January 2022 all the Governors of Newcomen Collett Foundation became Trustees of St Mary Newington Educational Foundation. St. Mary Newington Educational Foundation is constituted by a Charity Commission Scheme. The object of the Charity is to provide financial assistance to children in need in the former parish of St. Mary Newington. ## **Public Benefit** The objects and purposes of the Foundation are set out in the first paragraphs of this Report. The Governors confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant-making policy for the year. ## **Activities** The principal area of activity is awarding grants using funds generated from investment assets. This is explained in more detail below. For many years, the Foundation has shared the offices and costs with Marshall’s Charity, another grant-making charity. We will deal with this relationship further under the section on governance below. ## **A) Investment Management** As an Endowed Foundation one of the primary tasks of the Governors is to manage the investment assets. The Governors have adopted a policy of prudent diversification in relation to the investments and as such hold the investments in both property and equity assets. The Investment Committee advises the Governors on investment policy for the Foundation. The aim is to balance the needs of current and future beneficiaries. The specific financial objectives of the Foundation are: - To grow the real value of the assets in order to: - Secure the long term existence of the Foundation; and - Meet the unfulfilled demand for grants; - To seek a return greater than RPI plus 4% and £65,000 net; - To dispose of underperforming assets as soon as practicable; - To source alternative forms of investment including accumulation funds; - To contain operating costs. - To operate at an acceptable level of risk. The Governors have invested all securities in accumulation units in order to grow the endowment fund for future beneficiaries. Grants to current beneficiaries are made from unrestricted funds. Securities held by St Mary Newington Educational Foundation are invested in income units. ##  **Property** Approximately 60% of the endowment is currently invested directly in property. The portfolio is diversified by size, location and class. The Investment Committee continues to explore the development potential of all the properties in the portfolio. The 3 ## **Newcomen Collett Foundation** ## _Report of the Governors for 2023_ Governors are also identifying which properties should continue to be held in the portfolio and are devising a strategy for selling properties identified for disposal. The Foundation’s property portfolio is actively managed by the Surveyor to Marshall’s Charity. ##  **Securities** Approximately 40% of the current endowment is invested in securities. The investment policy recommends diversification of risk. The Foundation holds its funds in the CCLA COIF Charities Investment Fund, a Common Investment Fund which gives the necessary diversification. St Mary Newington Educational Foundation holds its funds in the CCLA COIF Charities Investment Fund, the CCLA COIF Property Investment Fund, the CCLA COIF Global Equity Fund and the M&G Equity Investment Fund for Charity (Charifund). Each Fund Manager issues quarterly reports showing the performance of the Funds. The Governors continue to monitor performance and also to keep under review the level of securities held in relation to property investments. ## **B) Grant-Making** The objects of the Foundation, which are set out in section 1, provide for four types of grant. In practice most of the grant-making activities fall within the fourth object. In relation to the first three objects: - There were no applications made by staff of the Newcomen Centre at St Thomas’ Hospital. - An annual grant of £2,000 is paid to the Governors of the Parish School of the Cathedral Church of St Saviour and St Mary Overie, Southwark. - There were no applications during the year for grants towards the rent, alteration and repairs of other Church of England Voluntary Aided schools. The grants made under the fourth object fall into three categories: school uniform grants, grants to individuals and grants to organisations. ##  **School Uniform Grants** Each year a proportion of the available funds is made available for emergency grants to purchase school uniforms. Schools contact the Foundation to outline the pupil’s situation and request a grant. Grants are awarded under Clerk’s discretion and applications are usually turned around within 48 hours. The school is responsible for purchasing the items of school uniform and the Foundation reimburses the school. ##  **Grants to Individuals** Individuals who are under the age of 25 and have been resident in Southwark for at least two years are eligible to apply for a grant towards the cost of their education. The majority of grants are awarded towards the costs of those attending tertiary or higher education. Priority is given to natives of Southwark, and to those embarking on their first post-school qualification. Grants to individuals under the age of 16 are usually only awarded in cases of exceptional talent or need. Individuals are eligible to apply once in any twelve-month period. The Governors do not make multi-year awards but will usually consider repeat applications from students for as long as they continue their studies. ##  **Grants to Organisations** Organisations who work with young people in Southwark are eligible to apply for grants. Support is given towards a breadth of activities including residential trips, music productions and equipment, sports resources, arts projects, after school clubs and holiday clubs. Priority is given to organisations which are based in Southwark. St Mary Newington Educational Foundation allocates between 40% and 50% of net income for the purpose of enabling the Governors or Managers of Church Schools within the boundary of the Ancient Parish of St Mary Newington to comply with their obligations with respect to the maintenance of such schools under the Educations Act, 1944 to 1953. The Trustees apply the balance of net income to be available for grants to organisations situated within the boundary of the Ancient Parish of St Mary Newington. 4 ## **Newcomen Collett Foundation** _Report of the Governors for 2023_ ## **2. ACHIEVEMENTS AND PERFORMANCE** ## **Achievements** In 2022 the Governors changed the financial year end from 30[th] September to 31[st] August. This was done to facilitate discussion of quarterly results at governors’ meetings. The Governors also changed the year end of St Mary Newington Educational Foundation from 31[st] December to 31[st] August, so its year end is co-terminus with Newcomen Collett Foundation. The year ended 31[st] August 2023 was a busy and successful year for the Foundation. There were no Income returns from securities as all securities are in accumulation funds. However rental income from properties and the rundown of accumulated reserves enabled the Foundation to award grants of over £94k to 176 individuals and organisations (2022: £74k to 144 individuals and organisations). The various achievements are explored in more detail below. ## **A) Investment Management** ##  **Property** The capital values of the properties decreased by 4.00% over the year. Residential property increased in value, but warehouse values reduced, reflecting market conditions. Rental income for the year showed a return of 6%. There were no bad or doubtful debts. ##  **Securities** The value of securities reduced by 1.00% over the year. In December, on the recommendation of the Investment Committee, the governors decided to sell the Foundation’s holding of securities in the Cazenove Charity Multi Asset Fund and invest the proceeds in the CCLA COIF Charities Investment Fund. The Governors found CCLA to be more engaged than Cazenove and the fund has better returns. The investment managers provide regular reports on the performance of the fund, and the Governors review the performance of their investments on a regular basis. The Foundation compares performance to the individual fund's own benchmarks. The value of securities held by St Mary Newington Educational Foundation reduced in value by 5.2%. Dividends for the year showed a return of 4.7%. ## **B) Grant-making** The Foundation has continued to see greater demand for its grants than it has funds available. Consequently, the Governors, with the assistance of the Field Officer, follow the grant-making priorities of the Foundation. It is hoped that this will enable the Foundation’s limited funds to be directed to those organisations and individuals who will benefit most from a grant. The number of grants awarded during the year are set out below: ##  **School Uniform Grants** 90 (2022 – 72) grants were awarded for the purchase of school uniforms during the year. ##  **Grants to Individuals** 23 (2022 – 20) grants were awarded to individuals over the year and these were generally towards the living costs of those pursuing post-16 educational opportunities. ##  **Grants to Organisations** 63 (2022 – 52) grants were awarded to organisations for a range of projects covering the arts, drama, sports, school trips and holiday clubs. ##  **Grants made by St Mary Newington Educational Foundation** 1 (2022 – 1) grant was made to a school for maintenance purposes, 4 (2022 - 2) grants were made to organisations and 1 (2022 – 0) grant was made to an individual to promote education. 5 ## **Newcomen Collett Foundation** _Report of the Governors for 2023_ ## **3. FINANCIAL REVIEW** ## **Review of Finances** The Newcomen Collett Foundation incurred a deficit of £34,914 on its activities during the year, excluding losses on investments. The Governors had agreed a deficit budget for the period of £43,944 to reduce unrestricted reserves. St Mary Newington Educational Foundation generated a surplus of £2,602 on its activities during the year, excluding losses on investments. Thus, the consolidated results for the period showed a deficit of £32,312 excluding gains and losses on investments. The freehold investment properties are revalued annually by the Surveyor to Marshall’s Charity. This year, in his view, there has been a decrease in the value of the portfolio. ## **Reserves Policy** The Governors have adopted a policy regarding free reserves which seeks to ensure that - a) free reserves should be less than twelve months’ overhead expenditure; - b) there are adequate funds to ensure that the Foundation is able to meet all current and known future liabilities. Free reserves exclude restricted funds and designated funds. They also exclude any unrestricted funds held in fixed assets. At 31[st] August 2023 the target level of free reserves was £80,000. However, the actual level was £302,681. The governors have agreed to reduce the free reserves over a number of years by increasing the amount of grants awarded and hence setting budgets with a deficit. The budgeted deficit for the year ending 31[st] August 2024 is £86,591. ## **Going Concern** Having reviewed the financial performance for the year, the budget for the year ended 31[st] August 2024 and plans for future years, the Governors confirm that the financial statements for the year to 31[st] August 2023 can be prepared on the going concern basis. ## **Investment Policy** The Governors continued with the Investment Policy adopted in December 2018. Currently the Governors do not wish to impose any specific ethical investment policy; however potential investments are assessed to ensure congruence with the aims and ethos of the Foundation. ## **Plans for the Future** The Foundation has a long-term strategy to build up its asset base in order to provide more income for the important grant needs of the community it serves. ## **Risk** The Risk Register is considered in detail at each Governors meeting and appropriate actions are being taken to mitigate any risks identified. As at 31[st] August 2023 there were no major risks facing the Foundation. ## **4. STRUCTURE, GOVERNANCE & MANAGEMENT** ## **Governing Documents & Governors** The Foundation was set up under a Scheme of the Charity Commissioners dated 16 September 1988. The Foundation is controlled by a body of Governors, who are the trustees of the Foundation, all of whom are members of the General Meeting of Governors. Governors are elected to serve for a four-year period and may be re-elected for subsequent four-year periods. There is a maximum of fourteen Governors, none of whom receives any remuneration or benefit from the Foundation. One Governor may be appointed as a Representative Governor by the Governors of the Cathedral School and Janet Simpson is currently that Governor. One other Governor may be appointed as a Representative Governor by the Guy’s & St Thomas’ Charitable Trust and Tim McNally is currently that Governor. The Governors are pleased that Canon Michael Rawson is currently a Governor. He is Sub Dean and Canon Pastor at Southwark Cathedral. The Foundation has had a long relationship with Southwark Cathedral and the Governors are delighted that the relationship continues, and that Michael is able to represent the concerns of the local community. 6 ## **Newcomen Collett Foundation** _Report of the Governors for 2023_ St Mary Newington Educational Foundation is a registered charity (number 312317) which is governed by two schemes, the 1916 Scheme made by the Board of Education and the 1955 Scheme made by the Minister of Education, as amended by a Scheme of the Charity Commission dated 10th December 1965 and a resolution dated 26 September 2010. ## **Governor Selection & Training** The Governor Selection Committee meets as necessary to consider new appointments of Governors. There are currently three vacancies for Governors on the Board. The Foundation is fortunate to have many highly qualified and experienced Governors who are also active in other charities. In keeping with the need to maintain the highest levels of governance, the Foundation encourages all Governors to participate in training that is relevant and which will assist them in their roles. Through our membership of the Charity Finance Group and the Association of Charitable Foundations and also from professional advisers, various courses are available in many of the specialist areas that affect the Foundation. The management of the Foundation and its assets is largely undertaken by two experienced professional staff in the persons of the Clerk and the Surveyor of Marshall’s Charity, and the Foundation ensures that both of them undertake appropriate continuing professional education relevant to its needs. Both of them ensure that the relevant knowledge gained in this training is forwarded to the Governors. ## **Governance** As with the corporate world, the charity sector has recognised that good governance and transparency are key responsibilities in their relationship with the community they serve. The Newcomen Collett Foundation seeks to ensure that it meets the highest standards in these areas consistent with the size of its operations and funds. To this end, the Foundation seeks to ensure compliance with the Charity Governance Code. There are currently three committees: an Investment Committee, an Audit Committee and a Governor Selection Committee. All committees have formal terms of reference and no committee has delegated powers to act without the authority of the General Meeting of Governors. The Governors rely greatly on the careful and thoughtful work undertaken by these committees which allows the General Meeting to deal more effectively with the many issues which are its concern. The Foundation has a working agreement with Marshall’s Charity, together with a license to occupy the premises at Newcomen Street, which sets out the terms for sharing staff between the two charities. In order to allow potential beneficiaries to find out more easily about the work of the Foundation and their ability to qualify for grants, the Foundation has its own website, www.newcomencollett.org.uk. As well as providing information about the Foundation, a link on this website allows applications to be processed online. ## **Audit Committee** This committee oversees the production of annual statutory accounts. The independent examiner is offered the opportunity to report to the Governors in confidence on any issues that might have arisen during the independent examination. ## **Management** The day-to-day management of the affairs of the Foundation is delegated to the Clerk and the Field Officer. The Governors believe that the operation of a Foundation with assets and income of this scale requires management by professionally trained staff with its necessary costs. They are immensely grateful to both the Clerk and the Field Officer for their dedication to the work of the Foundation, as well as the support given by Jim Keegan as Surveyor to Marshall’s Charity, who reports regularly to the Governors on matters related to the property portfolio of the Foundation. ## **Remuneration Committee** The pay arrangements for Foundation staff employed by Marshall’s Charity are dealt with by the Remuneration Committee of Marshall’s Charity. In view of the close working relationship between the charities, the Committee invites the Newcomen Collett Foundation to nominate representatives to join them for its meetings. At its annual meeting the Committee receives a report from the Clerk on staff issues and performance, and then considers sector and national pay rates and conditions, and levels of inflation, before preparing its recommendations. The Chair and Vice Chair advise the Governors on salary reviews for its own members of staff. 7 ## **Newcomen Collett Foundation** _Report of the Governors for 2023_ ## **Remuneration Policy** The Governors are grateful for the commitment and enthusiasm of the Foundation’s staff. The Governors take the view that it is essential to attract and retain staff with the appropriate skills and capabilities and reward them fairly for delivering the Foundation’s important work. In order to do this the Foundation reviews its salaries on a regular basis and this is done in conjunction with Marshall’s Charity Remuneration Committee. ## **Statement of Governors’ Responsibilities** The Governors are responsible for preparing the Report of the Governors and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of its incoming resources and application of resources of the Foundation for that period. In preparing these financial statements the Governors are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation. The Governors are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation’s transactions and disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report) Regulations 2008 and the provisions of its Constitutional Scheme. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Governors are responsible for the maintenance and integrity of the corporate and financial information included on the Foundation’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions. Approved by the Governors on 7[th] December 2023 and signed on their behalf: Robin Lovell Robert Ashdown Governor Governor 8 ## **Newcomen Collett Foundation** _Independent Examiner’s Report to the Governors for 2023_ I report to the Trustees on my examination of the accounts of Newcomen Collett Foundation for the year ended 31 August 2023 which are set out on pages 9 to 20. ## **Respective responsibilities of trustees and examiner** The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination. I report in respect of my examination of the Trust’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. C Williams Chaweevan Williams FCCA Verdant Accountants Ltd 20-22 Wenlock Road London N1 7GU Date: 7[th] December 2023 **Newcomen Collett Foundation** **9** _Consolidated Statement of Financial Activities for the year ended 31st August 2023_ |**Notes**
**INCOME AND ENDOWMENTS FROM:**
**Investment income**
_Property rentals_
_Dividends & other income_
_4_
**Total income**
**EXPENDITURE ON:**
**Raising funds**
_16_
**Charitable activities**
_16_
**Total expenditure**
**Net income/(expenditure) before**
**gains and losses on investment**
**Net recognised gains / (losses)**
**on investment**
_Property - unrealised_
_2_
_Securities - realised & unrealised_
_3_
**Net income/(expenditure) after**
**gains and losses on investment**
_Transfers between funds_
**Net movement in funds**
_Reconciliation of funds:_
Total funds brought forward
Total funds from St Mary Newington Educational
Foundation
_8&9_
**Total funds carried forward**|**Unrestricted**
**Endowment**
**Group**
**Group**
**Funds**
**Fund**
**2023**
**2022**| |---|---| ||**£**
**£**
**£**
**£**
_152,648_
_-_
_152,648_
_125,984_
_18,047_
_-_
_18,047_
_11,838_| ||**170,695**
**-**
**170,695**
**137,822**| ||_55,785_
_-_
_55,785_
_47,326_
_147,222_
_-_
_147,222_
_112,361_| ||**203,007**
**-**
**203,007**
**159,687**| ||**(32,312)**
**-**
**(32,312)**
**(21,865)**
_-_
_(110,000)_
_(110,000)_
_20,000_
_(19,869)_
_(15,408)_
_(35,277)_
_(17,442)_| ||**(52,181)**
**(125,408)**
**(177,589)**
**(19,307)**
-
-
-
**-**| ||**(52,181)**
**(125,408)**
**(177,589)**
**(19,307)**
_738,803_
_4,242,030_
_4,980,833_
_4,582,400_
-
_-_
417,740| ||**686,622**
**4,116,622**
**4,803,244**
**4,980,833**| All the above amounts relate to continuing activities and include all recognised gains and losses. The notes on pages 13 to 20 form part of these accounts. **Newcomen Collett Foundation** **10** _Charity Statement of Financial Activities for the year ended 31st August 2023_ |**Notes**
**INCOME AND ENDOWMENTS FROM:**
**Investment income**
_Property rentals_
_Dividends & other income_
_4_
**Total income**
**EXPENDITURE ON:**
**Raising funds**
_16_
**Charitable activities**
_16_
**Total expenditure**
**Net income/(expenditure) before**
**gains and losses on investment**
**Net recognised gains / (losses)**
**on investment**
_Property - unrealised_
_2_
_Securities - realised & unrealised_
_3_
**Net income/(expenditure) after**
**gains and losses on investment**
_Transfers between funds_
**Net movement in funds**
_Reconciliation of funds:_
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Endowment**
**Total**
**Total**
**Funds**
**Fund**
**2023**
**2022**| |---|---| ||**£**
**£**
**£**
**£**
_152,648_
_-_
_152,648_
_125,984_
_1,098_
_-_
_1,098_
_86_| ||**153,746**
**-**
**153,746**
**126,070**| ||_55,552_
_-_
_55,552_
_47,291_
_133,108_
_-_
_133,108_
_105,477_| ||**188,660**
**-**
**188,660**
**152,768**| ||**(34,914)**
**-**
**(34,914)**
**(26,698)**
_-_
_(110,000)_
_(110,000)_
_20,000_
_-_
_(15,408)_
_(15,408)_
_3,923_| ||**(34,914)**
**(125,408)**
**(160,322)**
**(2,775)**
-
-
-
**-**| ||**(34,914)**
**(125,408)**
**(160,322)**
**(2,775)**
_337,595_
_4,242,030_
_4,579,625_
_4,582,400_| ||**302,681**
**4,116,622**
**4,419,303**
**4,579,625**| All the above amounts relate to continuing activities and include all recognised gains and losses. The notes on pages 13 to 20 form part of these accounts. **Newcomen Collett Foundation** **11** _Balance Sheet at 31st August 2023_ |**Notes**
**FIXED ASSETS**
**Investments - General Purposes**
_Freeholds_
_2_
_Securities_
_3_
**CURRENT ASSETS**
_Debtors and prepayments_
_5_
_Cash at bank and in hand_
**Creditors: Amounts falling**
**due within one year**
_6_
**Net current assets**
**NET ASSETS**
**FUNDS**
_Unrestricted Fund_
_Endowment Fund_
_7_
**TOTAL FUNDS**|**Group**
**Charity**
**Group**
**Charity**
**2023**
**2023**
**2022**
**2022**| |---|---| ||**£**
**£**
**£**
**£**
_2,620,000_
_2,620,000_
_2,730,000_
_2,730,000_
_2,172,165_
_1,809,942_
_2,208,228_
_1,826,136_| ||**4,792,165**
**4,429,942**
**4,938,228**
**4,556,136**| ||_-_
_-_
_-_
_-_
_88,946_
_54,638_
_113,505_
_87,889_| ||88,946
54,638
113,505
87,889
_77,867_
_65,277_
_70,900_
_64,400_| ||**11,079**
**(10,639)**
**42,605**
**23,489**| ||| ||**4,803,244**
**4,419,303**
**4,980,833**
**4,579,625**| ||_686,622_
_302,681_
_738,803_
_337,595_
_4,116,622_
_4,116,622_
_4,242,030_
_4,242,030_| ||**4,803,244**
**4,419,303**
**4,980,833**
**4,579,625**| Approved by the Governors and authorised for issue on 7th December 2023 and signed on their behalf: Governor Robin Lovell Governor Robert Ashdown The notes on pages 13 to 20 form part of these accounts. **Newcomen Collett Foundation** **12** _Consolidated Statement of Cash Flows for the year ended 31st August 2023_ |**Notes**
**Cash flows from operating activities:**
**_Net cash provided by (used in) operating activities_ **
_17_
**_Cash flows from investing activites:_**
_Dividends, interest and rents from investments_
_Addition to property_
_Proceeds from the sale of investments_
_Purchase of investments_
**_Net cash provided by (used in) investing activities_**
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of the**
**reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**2023**
**2022**| |---|---| ||**£**
**£**
_(196,024)_
_(126,133)_
_170,695_
_137,822_| ||_-_
_-_
_931,914_
_-_
_(931,144)_
_-_| ||_171,465_
_137,822_
_(24,559)_
_11,689_
**113,505**
**101,816**
**88,946**
**113,505**| Robin Lovell Robert Ashdown 13 ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31[st] August 2023_ ## **1. Accounting Policies** - a) The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP 2015) (Second Edition effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011. - b) The Foundation constitutes a public benefit entity as defined by FRS102. - c) The governors considered that there are no material uncertainties about the Foundation's ability to continue as a going concern. - d) All income is recognised once the Foundation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. In previous years rental income was credited when receivable. The revised policy accounts for rental income in the period to which it relates. Security income is credited on an accruals basis. - e) Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Foundation to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Repairs and renewals to property are charged to the Statement of Financial Activities when incurred. Grants are treated as expenditure when authorised by the governors and communicated to the beneficiaries, not when the grants are paid. - f) Staff pension contributions are made under defined contributions schemes, and the funds are held by fully independent insurance companies. No liability exists under the scheme except for the amount of the contributions charged in the year. - g) Irrecoverable VAT is charged against the expenditure heading for which it was incurred. - h) All staff support costs have been allocated on the estimated basis of time spent on those categories. All other overheads have then been allocated between the categories on the basis of the total staff costs. - i) All securities (general purposes) are shown at bid value and properties are valued at open market value. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sales' proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. - j) The Foundation has a single permanent endowment. The governors have the powers to invest the capital in perpetuity and apply the income to the general purposes of the Foundation, namely to provide educational grants to young people in the London Borough of Southwark. - k) In the application of the accounting policies, governors are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods. Judgements made by the trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the valuation of properties and are discussed below. 14 ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31[st] August 2023_ In the view of the Governors, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. - l) Basic cost instruments are initially recognised at transaction value and subsequently measured at amortised with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions. **15** ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **2 Freehold properties** |**Freehold properties**|| |---|---| |_Opening balance at 1st September 2022_
_Additions during the year_
_Revaluation of properties at year end_
_Closing balance at 31st August 2023_|**Group**
**Charity**
**Group**
**Charity**
**2023**
**2023**
**2022**
**2022**| ||**£**
**£**
**£**
**£**
_2,730,000_
_2,730,000_
_2,710,000_
_2,710,000_
_-_
_-_
_-_
_-_
_(110,000)_
_(110,000)_
_20,000_
_20,000_| ||**2,620,000**
**2,620,000**
**2,730,000**
**2,730,000**| The property portfolio has been valued by Mr J Keegan, who is the Surveyor to Marshall's Charity. The valuation is on the basis of open market value. ## **3 Securities - UK Managed Funds** |**Securities - UK Managed Funds**|| |---|---| |_Market value at 1st September 2022_
_SMNEF securities_
_Additions during the year_
_Disposal during the year_
_Surplus/(loss) on sale of securities_
_Net (loss)/gain on revaluations during the year_
_Tranferred to income_
_Market value at 31st August 2023_
_Historical cost at 31st August 2023_|**Group**
**Charity**
**Group**
**Charity**
**2023**
**2023**
**2022**
**2022**| ||**£**
**£**
**£**
**£**
_2,208,228_
_1,826,136_
_1,822,213_
_1,822,213_
_403,457_
_931,144_
_931,144_
_-_
_-_
_(931,914)_
_(931,914)_
_-_
_-_
_(43,103)_
_(43,103)_
_-_
_-_
_7,826_
_27,695_
_(17,442)_
_3,923_
_(16)_
_(16)_
_-_
_-_| ||**2,172,165**
**1,809,942**
**_2,208,228_**
**_1,826,136_**| ||_1,825,727_
_1,669,923_
_1,612,984_
_1,457,179_| _Securities consisted of the following holdings:_ |_Securities consisted of the following holdings:_||||| |---|---|---|---|---| ||**Market**|**Value**|**Market**|**Value**| ||**Group**|**Charity**|**Group**|**Charity**| ||**2023**|**2023**|**2022**|**2022**| ||**£**|**£**|**£**|**£**| |_Cazenove Capital Charity Multi-Asset Fund_|_-_|_-_|_975,032_|_975,032_| |_CCLA COIF Charities Investment Fund_|_1,886,664_|_1,809,943_|_929,444_|_851,104_| |_CCLA COIF Property Investment Fund_|_36,858_||_46,523_|| |_CCLA COIF Global Equity Fund_|_66,397_||_65,041_|| |_M&G Equity Investment Fund for Charity (Charifund)_|_182,246_||_192,188_|| **16** ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **4 Dividends and interest on securities** |**Dividends and interest on securities**|| |---|---| |_UK Dividends_
_Other interest received and other income_|**Group**
**Charity**
**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| ||**£**
**£**
**£**| ||_17,318_
369
11,752
-| ||_729_
_729_
_86_
_86_| ||**18,047**
**1,098**
**11,838**
**86**| ## **5 Debtors and prepayments** |**Debtors and prepayments**|| |---|---| |_Other debtors_|**Group**
**Charity**
**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| ||**£**
**£**
**£**
**£**
-
-
-
-| ||**-**
**-**
**-**
**-**| ## **6 Creditors: amounts falling due within one year** |_Grants authorised but unpaid_
_Rent deposits held for tenants_
_Value Added Tax_
_Other creditors_|**Group**
**Charity**
**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| |---|---| ||**£**
**£**
**£**
**£**
_42,109_
_29,519_
_39,855_
_33,355_
_5,000_
_5,000_
_-_
_-_
_3,642_
_3,642_
_3,642_
_3,642_
_27,116_
_27,116_
_27,403_
_27,403_| ||**77,867**
**65,277**
**70,900**
**64,400**| ## **7 Endowment Fund** |**Endowment Fund**|| |---|---| |_Balance brought forward from previous year_
_Adjustment to market value of properties_
_Adjustment to market value of securities_
_Profit/(loss) on sale of securities_|**Group**
**Charity**
**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| ||**£**
**£**
**£**
**£**
_4,242,030_
_4,242,030_
_4,218,107_
_4,218,107_
_(110,000)_
_(110,000)_
_20,000_
_20,000_
_27,695_
_27,695_
_3,923_
_3,923_
_(43,103)_
_(43,103)_
_-_
_-_| ||**4,116,622**
**4,116,622**
**4,242,030**
**4,242,030**| ## **8 General Purposes Fund** |**General Purposes Fund**|| |---|---| |_Balance brought forward from previous year_
_Adjustment to market value of securities_
_Surplus/(deficit) for the year_|**Group**
**Charity**
**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| ||**£**
**£**
**£**
**£**
_203,013_
_-_
_217,790_
_-_
_(10,539)_
_-_
_(19,610)_
_-_
_2,603_
_-_
_4,833_
_-_| ||**195,077**
**-**
**203,013**
**-**| **17** ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **9 Capital Fund** |_Balance brought forward from previous year_
_Adjustment to market value of securities_|**Group**
**Charity**
**Group**
**Charity**
**2023**
**2023**
**2022**
**2022**| |---|---| ||**£**
**£**
**£**
**£**
_198,194_
_-_
_199,950_
_-_
_(9,330)_
_-_
_(1,756)_
_-_| ||**188,864**
**-**
**198,194**
**-**| ## **10 Governors and Related Party Transactions** - a) In 2023 £NIL ( _2022 - £NIL_ ) was paid to Governors for travel expenses. No remuneration was paid to Governors by the Foundation, nor were any expenses re-imbursed to Governors by payment to a third party (2022 - £NIL). - b) Governors were not involved in any transactions, except where the Foundation made grants to organisations or individuals within schools with which a Governor is involved. In those cases, the Governor involved did not vote. This was the situation for the following grants: - i. Grant made to the Cathedral School of St Saviour & St Mary Overie for £2,000, where Janet Simpson is the Chair of Governors and Canon Michael Rawson is the Vice Chair of Governors. ii. Uniform grants made to pupils at St James' Church of England Primary School where Tim McNally is the treasurer and his partner was a governor. - iii. Grants made to City of London Academy schools. Tim McNally is a Common Councillor of the Corporation of London. - c) There were no other related party transactions during the year. ## **11 Independent Examiner fees** Fees paid to the Independent Examiner in the year totalled £1,075 (2022 _- £1,000)_ and were all in respect of independent examination services. ## **12 Analysis of Net Assets between Funds** |**Restricted Funds**
_Endowment Fund_
**Unrestricted Funds**
_Unallocated Income_|**2023**
**2022**| |---|---| ||**Net**
**Net**
**Investments**
**Current**
**Investments**
**Current**
**General**
**Assets/**
**Total**
**General**
**Assets/**
**Total**
**Purposes**
**(Liabilities)**
**Purposes**
**(Liabilities)**| ||**£**
**£**
**£**
£
£
£
_4,116,622_
-
_4,116,622_
_4,242,030_
_-_
_4,242,030_
_675,543_
11,079
_686,622_
_696,198_
_42,605_
_738,803_| ||**4,792,165**
**11,079**
**4,803,244**
**4,938,228**
**42,605**
**4,980,833**| **Newcomen Collett Foundation** **18** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **13 Analysis of staff costs and remuneration of key management personnel** _Salaries and assessable benefits Social security costs Other pension contributions_ ## **Average number of staff (including full-time and part-time staff)** _Field Officer_ ||**Y/e**|**31/08/23**|**11**|**m/e**|**31/08/22**| |---|---|---|---|---|---| |||**£**|||**£**| |||_14,503_|||_12,695_| |||_553_|||_455_| |||_2,371_|||_2,232_| |||**17,427**|||**15,382**| |||_1_|||_1_| |||**1**|||**1**| In 2023, no employee received remuneration above £60,000 _(2022- 0)._ ## **14 Allocation of support costs** The breakdown of support costs and how these were allocated between Governance and other support costs is shown below: ## **CHARITY** ||**CHARITY**| |---|---| |**Cost type**
_Staff costs_
_Office costs & overheads_
**Cost type**
_Staff costs_
_Office costs & overheads_|**Y/e 31/08/23**
**Governance**
**Other**
**related**
**support costs**
**TOTAL**
**Basis of**
**Apportionment**| ||**£**
**£**
**£**
_2,332_
_50,737_
_53,069_
_661_
_20,355_
_21,016_
_2,993_
_71,092_
_74,085_
_Staff time_
_Staff time_| ||| ||**11 m/e 31/08/22**
**Governance**
**Other**
**related**
**support costs**
**TOTAL**
**Basis of**
**Apportionment**| ||_£_
_£_
_£_
_1,919_
_46,891_
_48,810_
_1,754_
_12,695_
_14,449_
_3,673_
_59,586_
_63,259_
_Staff time_
_Staff time_| ## **GROUP** ||**GROUP**| |---|---| |**Cost type**
_Staff costs_
_Office costs & overheads_
**Cost type**
_Staff costs_
_Office costs & overheads_|**Y/e 31/08/23**
**Governance**
**Other**
**related**
**support costs**
**TOTAL**
**Basis of**
**Apportionment**| ||**£**
**£**
**£**
_2,275_
_48,580_
_50,854_
_661_
_22,652_
_23,313_
_2,936_
_71,231_
_74,167_
_Staff time_
_Staff time_| ||| ||**11 m/e 31/08/22**
**Governance**
**Other**
**related**
**support costs**
**TOTAL**
**Basis of**
**Apportionment**| ||_£_
_£_
_£_
_1,922_
_46,889_
_48,810_
_1,754_
_12,753_
_14,507_
_3,676_
_59,642_
_63,318_
_Staff time_
_Staff time_| All staff support costs have been allocated on the estimated basis of time spent on those categories. All other overheads (except independent examination costs, which have been charged to Governance) have been allocated between the categories on the basis of the total staff costs. ## **15 Allocation of support costs** |_Investment Management_
_Grants_|**Group**
**Charity**
**Group**
**Charity**| |---|---| ||**Y/e 31/08/23**
**Y/e 31/08/23**
**11 m/e 31/8/22**
**11 m/e 31/8/22**| ||**£**
**£**
_£_
_£_| ||| ||_33,765_
_33,532_
_28,525_
_28,490_| ||_40,402_
_40,553_
_34,793_
_34,769_| ||_74,167_
_74,085_
_63,318_
_63,259_| **19** ## **Newcomen Collett Foundation** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **16 Expenditure** ## CHARITY |**Cost of raising funds**
_Investment Management_
_Property costs_
**Charitable activities**
_Grant costs available_
_(see note 18)_|**Direct**
**Allocated**
**Direct**
**Allocated**
**costs**
**support**
**costs**
**support**
**costs**
**TOTAL**
**costs**
**TOTAL**
**Y/e 31/08/23**
**11 m/e**
**31/8/22**| |---|---| ||**£**
**£**
**£**
**£**
**£**
**£**
_-_
_33,532_
_33,532_
_-_
_28,490_
_28,490_
_22,020_
_-_
_22,020_
_18,801_
_-_
_18,801_| ||_22,020_
_33,532_
_55,552_
_18,801_
_28,490_
_47,291_
_92,555_
_40,553_
_133,108_
_70,708_
_34,769_
_105,477_| ||**114,575**
**74,085**
**188,660**
**89,509**
**63,259**
**152,768**| ||| ## **GROUP** |**Cost of raising funds**
_Investment Management_
_Property costs_
**Charitable activities**
_Grant costs available_
_(see note 18)_|**Direct**
**Allocated**
**Direct**
**Allocated**
**costs**
**support**
**costs**
**support**
**costs**
**TOTAL**
**costs**
**TOTAL**
**Y/e 31/08/23**
**11 m/e**
**31/8/22**| |---|---| ||**£**
**£**
**£**
**£**
**£**
**£**
_-_
_33,765_
_33,765_
_-_
_28,525_
_28,525_
_22,020_
_-_
_22,020_
_18,801_
_-_
_18,801_| ||_22,020_
_33,765_
_55,785_
_18,801_
_28,525_
_47,326_
_106,820_
_40,402_
_147,222_
_77,568_
_34,793_
_112,361_| ||**128,840**
**74,167**
**203,007**
**96,369**
**63,318**
**159,687**| ## **17 Reconciliation of net movement in funds to net cash from operating activities** |**_Net income for the reporting period (as per_**
**_the statement of financial activities)_**
_Losses/(gains) on investments_
_Dividends, interest and rents from investments_
_Decrease in debtors_
_Increase in creditors_
_Cash transferred in from St Mary Newington Educational Foundation_
**_Net cash used in operating activities_**|**11 m/e**| |---|---| ||**Y/e 31/08/23**
**31/8/22**| ||**£**
**£**| ||| ||**_(177,589)_**
**(19,307)**| ||| ||_145,293_
_(2,558)_| ||_(170,695)_
_(137,822)_| ||_-_
_2,967_| ||_6,967_
_16,304_| ||_-_
_14,283_| ||**_(196,024)_**
**_(126,133)_**| **20** _Notes to the accounts for the year ended 31st August 2023 (continued)_ ## **NEWCOMEN COLLETT FOUNDATION** ## **18 Major grants during the year** |**Recipient**
St Peter’s Primary School
Kintore Way Nursery School
Cathedral School
Burgess Sports
Khulisa UK
Heber Primary
Lyndhurst Primary School
acet UK
Goose Green Primary School
Friars Primary (Foundation) School
Goose Green Primary School
Unicorn Theatre
Magic Lantern
Heritage Charity London
The Grasshopper Music Trust
Echoes of Hope
Proudtobeme
Angel Oak Academy
Rotherhithe Primary School
Coin Street Centre Trust
St James' C of E Primary School
Southwark Playhouse
Team Up
London Youth Choirs
Inspire New Creative Performing Arts
Rotherhithe Primary School
Pilgrims Way School
The Purple Ladies
Southwark Music
Keyworth Primary School
Bellenden Primary School
Townsend Primary School
Surrey Square Primary School
Rose Education CIC
Embracing Arts
Maya Productions
Southwark Theatres Ed. Partnership
Music Changes Moods
Hollydale Primary School
The Wells Trust (Step Out mentoring)
Sacred Heart Catholic School
Theatre Peckham
Foundation for Young Musicians
Groundwork London
Brunswick Park Primary School
Cobourg Community Primary School
St John's & St Clement's C of E PS
Comber Grove Primary School
Somerville Youth Play Provision
Sapphire Employability and Wellbeing
KIDS
Orchard Hill College
Bede House Association
Climate Ed
Spring Community Hub
Camberwell Afterschool Project
Afro-Brazilian Arts&Cultural Exchange
Children & Family Empowerment
Other grants to organisations &
individuals - Group 125, Charity 124
Less: Cancellations
**Total net grants**|**Group**
**Charity**
**Y/e 31/08/23**
**Y/e 31/08/23**
**£**
**£**
**Recipient**
_8,400_
_-_
St Peter’s Primary School
_3,000_
_3,000_
Southwark Playhouse
_2,000_
_2,000_
Heber Primary
_2,000_
_0_
Cathedral School
_2,761_
_2,761_
Create (Arts) Limited
_2,496_
_2,496_
Lyndhurst Primary School
_2,000_
_2,000_
Theatre Troupe CIC
_2,000_
_2,000_
acet UK
_1,880_
_1,880_
Living Bankside Academy
_1,536_
_1,536_
Angel Oak Academy
_1,500_
_1,500_
John Keats Primary School
_1,500_
_1,500_
St James' C of E Primary School
_1,500_
_1,500_
John Donne Primary School
_1,500_
_1,500_
Pilgrims Way School
_1,500_
_1,500_
Cobourg Community Primary Sch.
_1,500_
_1,500_
23rd Camberwell Scout Group
_1,500_
_1,500_
MusicOnWheels CIC
_1,440_
_1,440_
Keyworth Primary School
_1,440_
_1,440_
St. George's Cathedral Catholic PS
_1,350_
_1,350_
Global Generation
_1,340_
_1,340_
Cambridge House and Talbot
_1,250_
_1,250_
Employment 4 ALL CIC
_1,250_
_1,250_
Southwark Theatres Education Part.
_1,250_
_1,250_
Downside Fisher Youth Club
_1,250_
_1,250_
XLP
_1,250_
_1,250_
St John's & St Clement's Primary Sch.
_1,248_
_1,248_
BXM Inspired
_1,224_
_1,224_
London Bubble Theatre
_1,200_
_1,200_
Afro-Brazilian Arts & Cultural EI
_1,190_
_0_
KIDS
_1,104_
_1,104_
Southwark Tigers RFC
_1,100_
_1,100_
Spring Community Hub
_1,000_
_1,000_
Multi-Story Music
_1,000_
_1,000_
ONG AFRICA ASSOCIATION
_1,000_
_1,000_
Youth Futures
_1,000_
_1,000_
Camelot Primary School
_1,000_
_1,000_
Camberwell afterschool project
_1,000_
_1,000_
Bede House Association
_1,000_
_1,000_
St Giles Trust
_1,000_
_1,000_
Foundation for Young Musicians
_1,000_
_1,000_
Half Moon Young People's Theatre
_1,000_
_1,000_
Fairbeats!
_1,000_
_1,000_
Surrey Docks Farm
_1,000_
_1,000_
Glaziers' Foundation
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_

_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_0_
_1,000_
_0_
**83,459**
**69,869**
_25,153_
_24,478_
Other grants to organisations &
individuals - Group 104, Charity 101
_108,612_
_94,347_
_(1,792)_
_(1,792)_
Less: Cancellations
**106,820**
**92,555**
**Total net grants**|**Group**
**Charity**
**11m/e**
**31/08/22**
**11m/e**
**31/08/22**| |---|---|---| |||**£**
**£**
_5,500_
_0_
_2,160_
_2,160_
_2,112_
_2,112_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_2,000_
_1,728_
_1,728_
_1,500_
_1,500_
_1,440_
_1,440_
_1,404_
_1,404_
_1,296_
_1,296_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_2,000_
_1,000_| |||**60,140**
**53,640**
_20,871_
_20,511_| |||_81,011_
_74,151_
_(3,443)_
_(3,443)_| |||**77,568**
**70,708**|