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|LEGAL AND AD<br>31August 2022|LEGAL AND AD<br>31August 2022|LEGAL AND AD<br>31August 2022|MINISTRATIV|E<br>INFORMATION|E<br>INFORMATION|||||
|---|---|---|---|---|---|---|---|---|---|
|Charity Name:||||The Smallpeice Trust||||||
|Registered||charity number:||313719||||||
|Company||registered|number:|882371||||||
|Directors||(trustees):|The Trustees|who held office during|the period,||and at the date the Trustees'||report was approved,|
||||were:|||||||
|||||Dr Alan Begg - Chairman||||||
|||||Mr Paul Doble (resigned 8 September||||2022)||
|||||Mr lan Jess||||||
|||||Mr Trevor Gill||||||
|||||Prof Richard Folkson|(resigned||8September 2021)|||
|||||Mr Gavin Thompson||||||
|||||Prof Alison Haltstead||||||
|||||Mrs Glynis Dean||||||
|||||Ms Jacqueline<br>Newsome||||||
|||||Mr Abiram<br>Ganeshanathan||(appointed||8September 2021)||
|||||Mr Graham<br>Heaven|(appointed||9June 2022)|||
|Principal|members||ofstaff:|Dr Kevin P Stenson|- Chief|Executive||||
|||||Ms Lisa Foster - Chief Operating|||Officer|||
|||||Ms Caroline Broadway —Director of Engagement||||||
|Registered||office:||Holly House||||||
|||||74 Upper<br>Holly Walk||||||
|||||Leamington<br>Spa||||||
|||||CV32 4JL||||||
|Bankers:||||Lloyds TSBBank Pic||||||
|||||73The Parade||||||
|||||I eamington<br>Spa||||||
|||||CV32 4BB||||||
|Solicitors:||||BPESolicitors LLP||||||
|||||St James' House||||||
|||||St James' Square||||||
|||||Cheltenham||||||
|||||GL50 3PR||||||
|Auditors:||||Dains Audit Limited||||||
|||||15Colmore<br>Row||||||
|||||Birmingham||||||
|||||B32BH||||||
|Investment||Managers:||CCLA Investment<br>Managers||Limited||||
|||||One Angel Lane||||||
|||||London||||||
|||||EC4R 3AB||||||





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|||||Unrestricted|Unrestricted||||
|---|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|31August|31August|
|Income from:|||Note|funds<br>6|funds<br>6|funds<br>F|2022f|2021|
|Donations<br>and legacies|||3|300,608||1,343,641|1,644,249|661,521|
|Charitable<br>activities|||4|1,408,982|||1,408,982|1,225,096|
|Investments|||5|514,770|||514,770|518,364|
|Other|||6|134,363|||134,363|119,845|
|Total income||||2,358,723||1,343,641|3,702,364|2,524,826|
|Expenditure<br>on:|||||||||
|Raising funds|||7|299,292|||299,292|328,022|
|Charitable<br>activities|||8|2,317,584|116,959|307,135|2,741,678|2,645,189|
|Total expenditure||||2,616,876|116,959|307,135|3,040,970|2,973,211|
|Net Operating<br>income||/||(258,153)|(116,959)|1,036,506|661,394|(448,385)|
|(expenditure)|||||||||
|Net gains / (losses)|on||||||||
|investments|||14|(428,716)|||(428,716)|3,378,446|
|Net income<br>/ (expenditure)||||(686,869)|(116,959)|1,036,506|232,678|2,930,061|
|Transfers between|funds||19/20|(19,195,618)|19,241,122|(45,504)|||
|Net movement<br>in funds||||(19,882,487)|19,124,163|991,002|232,678|2,930,061|
|Reconciliation offunds|||||||||
|Total funds<br>brought|forward||19/20|22,073,148|74,618|97,910|22,245,676|19,315,615|
|Total funds carried|forward|||2,190,661|19,198,781|1,088,912|22,478,354|22,245,676|





## 

|||||Unrestricted|Unrestricted|||
|---|---|---|---|---|---|---|---|
|||||General|Designated|Restricted|31August|
|||||funds|funds|funds|2021|
|Income from:|||Note|Z||'Z||
|Donations<br>and legacies|||3|360,245||301,276|661,521|
|Charitable<br>activities|||4|1,225,096|||1,225,096|
|Investments|||5|518,364|||518,364|
|Other|||6|119,845|||119,845|
|Total income||||2,223,550||301,276|2,524,826|
|Expenditure<br>on:||||||||
|Raising funds|||7|319,122||8,900|328,022|
|Charitable<br>activities|||8|2,328,489|36,500|280,200|2,645,189|
|Total expenditure||||2,647,611|36,500|289,100|2,973,211|
|Net Operating<br>income||/||(424,061)|(36,500)|12,176|(448,385)|
|(expenditure)||||||||
|Net gains<br>/ (losses)|on|||||||
|investments|||14|3,378,446|||3,378,446|
|Net income<br>/ (expenditure)||||2,954,385|(36,500)|12,176|2,930,061|
|Transfers<br>between|funds|||||||
|Net movement<br>in funds||||2,954,385|(36,500)|12,176|2,930,061|
|Reconciliation<br>offunds||||||||
|Total funds brought|forward|||19,118,763|111,118|85,734|19,315,615|
|Total funds carried forward||||22,073,148|74,618|97,910|22,245,676|





## 

||||2022|2021|
|---|---|---|---|---|
|||Note|8||
|Fixed assets|||||
|Intangible<br>Fixed Assets||12|126,733||
|Tangible assets||13|864,930|1,089,122|
|Investments|||||
|- listed||14|17,866,177|18,075,110|
|-other||14|1,500,000|1,100,000|
||||20,357,840|20,264,232|
|Current assets|||||
|Stocks||15|45,000||
|Debtors||16|1,577,677|386,206|
|Cash at bank and in|hand||1,583,456|2,671,730|
||||3,206,133|3,057,936|
|Creditors: amounts|falling|17|||
|due within one year|||(968,469)|(960,992)|
|Net current assets|||2,237,664|2,096,944|
|Total assets less current liabilities|||22,595,504|22,361,176|
|Creditors: amounts|falling|17|||
|due within one year|||(117,150)|(115,500)|
|Net Assets|||22,478,354|22,245,676|
|Chadty Funds|||||
|Restricted funds||19|1,088,912|97,910|
|General income funds|||1,250,015|19,466,297|
|Revaluation<br>reserves|||940,646|2,606,851|
|Designated<br>funds|||19,198,781|74,618|
|Total unrestricted<br>income funds||20|21,389,442|22,147,766|
|Total Funds|||22,478,354|22,245,676|





||||||||31August|31August|
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
|Cash flow from operating||activities|||22||(1,098,811)|(841,523)|
|Net cash|flow from operating|||activities|||(1,098,811)|(841,523)|
|Cash flow from investing||activities|||||||
|Payments|to acquire investments||||||(619,783)|(16,151,723)|
|Receipts|from sales of investments|||||||17,086,512|
|Interest received|||||||4,198|390|
|Dividends|received||||||510,573|517,974|
|Rents received|||||||115,549|114,415|
|Net cash|flow from investing||activities||||10,537|1,567,568|
|Net increase) (decrease)||in|cash and cash equivalents||||(1,088,274)|726,045|
|Cash and|cash equivalents||at|1 September 2021|||2,671,730|1,945,685|
|Cash and|cash equivalents||at|31 August 2022|||1,583,456|2,671,730|
|Cash and|cash equivalents||consists of:||||||
|Cash at bank and<br>in hand|||||||1,583,456|2,671,730|
|Cash and|cash equivalents||at|31August 2022|||1,583,456|2,671,730|
|Analysis|ofchanges<br>in net debt:||||||||
|||||||2021|Cashflow|2022|
|||||||6|||
|Cash and|cash equivalents|||||2,671,730|(1,088,274)|1,583,456|





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|Income|from charitable|activities|activities|2022|2021|
|---|---|---|---|---|---|
|||||8||
|Course|income|||1,347,702|1,177,897|
|Aptitude|test fees and sundry||income|61,280|47,199|
|||||1,408,982|1,225,096|



## 




## 

|6|Other income|Other income|||2022<br>6|2021f|
|---|---|---|---|---|---|---|
||Rent receivable||||95,549|94,415|
||Licence|fees and|related income||20,000|20,000|
||Sundry|income|||18,814||
||Furlough|grants:|UK Coronavirus|Job Retention Scheme||5,430|
||||||134,363|119,845|



|Other income was 8134,363(2021: I'.119,845)which was entirely attributable|Other income was 8134,363(2021: I'.119,845)which was entirely attributable|to general|unrestricted<br>funds.|
|---|---|---|---|
|Cost of raising funds||2022|2021|
|||p|8|
|Publicity,<br>fundraising<br>and|charity development|294,242|260,858|
|Investment<br>management|fees||49,112|
|Investment<br>property costs||5,050|18,052|
|||299,292|328,022|



## 

|Activities|Grant||||
|---|---|---|---|---|
|undertaken|funding|Support|2022|2021|
|directly|activities|costs|Total|Total|
||6||6|6|
|1,542,197|283,900|915,581|2,741,678|2,645,189|
|1,542,197|283,900|915,581|2,741,678|2,645,189|





|31|Au ust 2022|||||
|---|---|---|---|---|---|
|8|Analysis ofexpenditure|on charitable|activities (continued)|2022|2021|
|||||6|6|
||Support costs|||||
||Staff costs|||331,399|382,208|
||Hotel and travel|||29,270|1,768|
||Stationery<br>and course development|||27,061|27,117|
||Printing,<br>artwork 8 brochures|||7,378|48,696|
||Property and utility costs|||113,112|81,207|
||Training<br>and recruitment|||31,670|45,334|
||Depreciation|||97,458|114,383|
||Equipment<br>and ITcosts|||214,703|189,784|
||Other sundry costs|||19,979|21,240|
||Governance<br>costs (note|9)||43,551|59,170|
|||||915,581|970,907|



||||||
|---|---|---|---|---|
|9|Governance costs||2022|2021|
|||||6|
||Auditors'<br>remuneration||10,643|10,500|
||Trustees'<br>and meeting|expenses|5,864|889|
||Trustees'<br>indemnity<br>insurance||5,992|5,913|
||Legal and professional|fees|21,052|41,868|
||||43,551|59,170|
|10|Net income I(expenditure)<br>for the period||2022|2021|
|||||6|
||Total resources expended<br>is stated after charging I(crediting):||||
||Depreciation||97,459|114,383|
||Operating<br>lease rentals||17,759|18,426|
||Auditors'<br>remuneration|- audit|11,365|10,500|
|||-other services||10,655|
|11|Employee costs and|benefits|2022|2021|
||Salaries||1,268,591|1,208,180|
||Social security costs||134,487|124,804|
||Other pension costs||131,910|124,829|
||Compensation<br>for loss|ofoffice||28,064|
||Life assurances||3,300|4,247|
||Private health insurance||15,415|12,375|
||||1,553,703|1,502,499|





## 

|the period w|as as follow|
|---|---|
|2022|2021|
|Number|Number|



## 

## 

|The average<br>numbe|r<br>ofem|ployees<br>during the period (e|xcluding<br>directors) was:||
|---|---|---|---|---|
||||2022|2021|
||||Number|Number|
|Education team staff|||19|23|
|Partner engagement|||10|8|
|Administrative<br>and|support|staff|10|9|
||||39|40|
|Full time equivalent|staff||38|39|





## 

|Intangible<br>fixed assets|||||
|---|---|---|---|---|
|||Computer|||
|||Software|Website|Total|
|||F|6|6|
|Cost|||||
|Transfer||266,457|48,000|314,457|
|Disposals|||||
|31August 2022||266,457|48,000|314,457|
|Depreciation|||||
|Transfer||106,432|18,400|124,832|
|Charge for the period||53,292|9,600|62,892|
|31 August 2022||159,724|28,000|187,724|
|Net book value|||||
|31 August 2022||106,733|20,000|126,733|
|Tangible fixed assets|||||
|||Office|||
|||furniture|||
||Freehold|and|Motor||
||property|equipment|vehicles|Total|
||6||E|8|
|Cost|||||
|1 September<br>2021|1,357,406|501,073|20,798|1,879,277|
|Additions|||||
|Disposals ITransfer||(314,457)||(314,457)|
|31 August 2022|1,357,406|186,616|20,798|1,564,820|
|Depreciation|||||
|1 September 2021|472,311|297,046|20,798|790,155|
|Transfer||(124,832)||(124,832)|
|Charge for the period|23,148|11,419||34,567|
|31 August 2022|495,459|183,633|20,798|699,890|
|Net book value|||||
|31 August 2022|861,947|2,983||864,930|
|31 August 2021|885,095|204,027||1,089,122|





## 

|14|Fixed asset investments||2022|
|---|---|---|---|
||Listed investments|||
||Market value at 31August 2021||18,075,110|
||Additions<br>during the period||619,783|
||Disposal proceeds||0|
||Net investment<br>gains<br>/ (losses)||(828,716)|
||Market value at 31August 2022||17,866,177|
||Historical cost at 31August 2022||18,194,435|
||UK listed investments<br>are represented|by:||
||Investment<br>trusts and unit trusts||17,866,177|
||||17,866,177|
||Investment<br>property|||
||Market value 31 August 2021||1,100,000|
||Revaluation<br>gain<br>/ (loss)||400,000|
||Market value 31August 2022||1,500,000|



## 

||November<br>2021 when the property was professio<br>Fine and Country respectively.<br>|nally<br>valued<br>by ehB Reeves, Loveitts, Warei|ng<br>&Co., a|
|---|---|---|---|
|15|Stocks|2022|2021|
||||6|
||Goods for resale|45,000||
|16|Debtors|2022|2021|
||||8|
||Trade debtors|422,152|309,887|
||Prepayments|129,284|44,800|
||Accrued income|1,023,385|30,002|
||Other debtors|2,856|1,517|
|||1,577,677|386,206|





## 

|17|Creditors: amounts<br>year|falling due within one|2022|2021f|
|---|---|---|---|---|
||Trade creditors||284,302|149,300|
||Taxation and social|security|43,143|28,758|
||Accruals||199,737|223,129|
||Deferred<br>income||433,899|558,305|
||Rent deposit||1,500|1,500|
||Other creditors||5,888||
||||968,469|960,992|
||Creditors: amounts|falling due after more|2022|2021|
||than one year||8||
||Deferred income||117,150|115,500|
|18|Deferred income||2022|2021|
||||8|6|
||Brought forward||673,805|712,115|
||Released to SoFA||(550,275)|(633,273)|
||Deferred income received this period||427,519|594,963|
||Carried forward||551,049|673,805|





## 

## 

|||Balance|Balance||||Gains/(Losses)|Balance|
|---|---|---|---|---|---|---|---|---|
|||31|August|Incoming|||on|31August|
||||2021|resources|Expenditure|Transfers|Assets|2022|
||||8|6|||||
|Scholarships|Fund|||281,500|(281,500)||||
|Bursaries|||14,500||(6,500)|(5,000)||3,000|
|Rise Project|||35,059|||(10,829)||24,230|
|Benefactors|Fund||48,351|8,966|(11,100)|(29,675)||16,542|
|The Mercers|Company|||40,175|(8,035)|||32,140|
|TG Gray Charitable||Trust||1,013,000||||1,013,000|
||||97,910|1,343,641|(307,135)|(45,504)||1,088,912|
|||Balance|||||Gains/(Losses)|Balance|
|||31August||Incoming|||on|31August|
|||2020||resources|Expenditure|Transfers|Assets|2021|
|Scholarships|Fund|||273,700|(273,700)||||
|Bursaries|||21,000||(6,500)|||14,500|
|Rise Project|||35,059|||||35,059|
|Benefactors|Fund||29,675|18,676||||48,351|
|Liaison officers||||8,900|(8,900)||||
||||85,734|301,276|(289,100)|||97,910|





## 

## 

||||Balance|||Gains/(Losses)|Gains/(Losses)|Balance|
|---|---|---|---|---|---|---|---|---|
||||31August|Incoming|||on|31August|
||||2021f|resources|Expenditure|Transfers|Assets|2022<br>6|
|General funds|||19,466,297|2,358,723|(2,616,876)|(17,958,129)||1,250,015|
|Revaluation|reserve||2,606,851|||(1,237,489)|(428,716)|940,646|
|Designated|funds:||||||||
|2011 Fund|||74,618||(19,500)|(48,000)||7,118|
|Fixed Asset||Fund|||(97,459)|1,089,122||991,663|
|SPH Maintenance||||||200,000||200,000|
|Investment||Fund||||18,000,000||18,000,000|
||||22,147,766|2,358,723|(2,733,835)|45,504|(428,716)|21,389,442|
||||Balance|||Gains/(Losses)||Balance|
||||31August|Incoming|||on|31August|
||||2020|resources|Expenditure|Transfers|Assets|2021|
|||||||6|E||
|General funds|||14,894,123|2,223,550|(2,647,611)||4,996,226|19,466,297|
|Revaluation|reserve||4,224,631||||(1,617,780)|2,606,851|
|Designated|funds:||||||||
|2011 Fund|||111,118||(36,500)|||74,618|
||||19,229,881|2,223,550|(2,684,111)||3,378,446|22,147,766|





## 

|Net assets||between funds|||||
|---|---|---|---|---|---|---|
||||Fixed|Net Current|Non-Current|Total|
||||Assets|Assets|Liabilities|31 Aug 2022|
|||||8|Z||
|Unrestricted||Fund|1,366,177|893,614|(69,130)|2,190,661|
|Unrestricted||funds at 31 August 2022|1,366,177|893,614|(69,130)|2,190,661|
|Designated||Fund|18,991,663|207,118||19,198,781|
|Designated||funds at 31 August 2022|18,991,663|207,118||19,198,781|
|Restricted|Fund|||1,136,932|(48,020)|1,088,912|
|Restricted funds at 31 August 2022||||1,136,932|(48,020)|1,088,912|
|Total funds||at 31August 2022|20,357,840|2,237,664|(117,150)|22,478,354|



|Reconciliation<br>ofne|t income|to net cash flow from operat|ing<br>activities||
|---|---|---|---|---|
||||2022|2021|
||||F||
|Net income<br>/ (expenditure)<br>for the period|||232,678|2,930,061|
|Dividends<br>received|||(510,573)|(517,974)|
|Rents from investment|properties||(115,549)|(114,415)|
|Interest receivable|||(4,197)|(390)|
|Depreciation<br>offixed|assets||97,459|114,383|
|(Gains) / losses on investments|||428,716|(3,378,447)|
|(Increase)<br>/ decrease|in stock||(45,000)||
|(Increase)<br>/ decrease|in debtors||(1,191,471)|20,219|
|Increase<br>/ (decrease)|in creditors||9,126|105,040|
|Net cash flow from operating||activities|(1,098,811)|(841,523)|





|23|Commitments<br>under operating<br>leases|Commitments<br>under operating<br>leases|Commitments<br>under operating<br>leases|Commitments<br>under operating<br>leases||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022<br>6|2021f|
||Total future<br>minimum<br>lease||payments|under non-cancellable|||operating|||
||leases are as follows:|||||||||
||Not later than one year|||||||9,135|11,983|
||Later than one and not|later than five||years||||10,579|3,936|
|||||||||19,714|15,919|
||Total future<br>minimum<br>lease||payments|receivable||under non-cancellable||||
||operating<br>leases are as|follows:||||||||
||Not later than one year|||||||20,417|95,584|
||Later than one and not|later|than five|years||||20,376|34,450|
|||||||||40,793|130,034|
||The trust lets its investment||property,<br>Smallpeice|||House, under a lease expiring||September|2022; and als|
||office space comprising|a room at its operating|||premises.|||||
|24|Capital commitments|||||||||
||At the 31 August 2022 the charity has|||committed||a total off47,000(2021:LNil).||||
|25|Ultimate<br>Controlling<br>Party|||||||||