THE BRITISH SCHOOL AT ROME FINANCIAL STATEMENTS AS AT 31 MARCH 2021 Table of Contents THE TRUSTEES. REPORT..........................,.......,..... ....................,......................,.....................................,........ Fintsncè und Personnel Subcommittee.. Foculty of the Fine Arts.............,...................,....,.........,. F(TcuIty of Archagology, History and L•tt•rs,.. .....................-.,.-................................,.....................,............. Auditors.......,....... Piofessional Advisers.......-............. Investment Monoger5,.. ......................,.........-...........,....... Bankers .. . Achi•vements. Performonce ond Futur8 Plans............-..,..,..... Donated Goods. Facilities ond Services Including Volunteer5.........-..-..,... Financial Revlew......,....... .10 British Academy Gronts...................-......................,.........,................................-.,..............................,........,. Inveslments and Cash Resources.....................................,..........,...........,... Going Concern ond ReseNeB PDIicy........,....,.......,......,..,....,......,.......... ......................-......,.... .................. Fundraising . THE STATEMENT OF TRUSTEES, RESPONSIBILITIES.....................,...................,............ INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BRITISH SCHOOL AT ROME................ ... STATEMENT OF FINANCIAL ACTivrriES.........................,...,.... ......................................,............,......... ...... BALANCE SHEET.......,..........,.......,....,.......,....,............................................ STATEMENT OF CASH FLOWS..................................,........,...........................................,............,...,... NOTES TO THE FINANCIAL STATEMENTS..,.......,.....,... .. . .... .........................,........................................... ACCOUNTING POLICIES...............................,....,...........,...,...,..............................,......................... 2. JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY..............................................,.........,.....................................,..,......................................... DONATIONS AND LEGACIES......... .. 21 ,34 CHARITABLE INCOME........,.......,....,.......,....,...,.....,.....................................-..-............. INVESTMENT INCOME.... CHARITABLE ACTIVITIES...............-.,................,.....,...... CHARITABLE ACTWITIES_ RESTRICTEL) EXPENDITURE........,............,...,.......,. SUPPORT COSTS.. .36 GOVERNANCE... ....... .......................................... .............................,...............................................36 10. GRANTSAND SCHOLARSHIPS.................,..........................,.............................,.......,....,.......,.....,... 37
| 11. | TRUSTEES AND EMPLOYEES. | ""37 | |
|---|---|---|---|
| 12. | FIXED ASSETS. | 39 | |
| 13. | INVESTMENTS .. | , .40 | |
| 14. | DEBTORS.. | ||
| 15. | CREDITORS: AMOUNTS FALLING |
DUE WITHIN ONE YEAR. | |
| 16. | PROVISIONS FOR POST EMPLOYMENT BENEFITS. | .. ..42 | |
| 17. | COMMITMENTS. . |
||
| 18. | RESTRICTED FUNDS . | 45 | |
| 19. | UNRESTRICTED FUNDS... | .. .46 | |
| 20. | NET INCOME TO NET CASH-FLOW | 47 | |
| 21. | ANALYSIS OF CASH AND CASH | EQUIVALENTS .. | 47 |
| 22. | FINANCIAL INSTRUMENTS. |
"47 | |
| 23. | ANALYSIS OF NET ASSETS BETWEEN FUNDS.. | ....48 | |
| 24. | CONTROLLING PARTY |
.48 | |
| 25. | RELATED PARTY TRANSACTIONS. | .48 | |
| 26. | PRIOR YEAR COMPARATIVES. | 49 |
| TATEMENT OF FINANCIAL ACTIVI | TIES | ||||
|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | 2021TOTAL | 2020 TOTAL | NOTES TO | |
| FUNDS | FUNDS | FUNDS | FUNDS | THE | |
| (NOTE 26) | ACCOUNTS | ||||
| E,OOO | E,OOO | E,OOO | E,OOO | ||
| INCOME FROM | |||||
| DONATIONS AND LEGACIES |
|||||
| DONATIONS AND VOLUNTARY |
193 | 51 | |||
| INCOME | |||||
| LEGACIES | 230 | ||||
| BRITISH ACADEMY GRANT | 1,165 | 1,165 | 1,101 | ||
| OTHER GRANTS | 14 | 14 | 78 | ||
| CHARITABLE ACTIVITIES | |||||
| EXCHANGE RATE GAINS |
13 | 13 | |||
| CHARITABLE ACTIVITIES | 53 | 53 | 335 | ||
| INVESTMENTS | 41 | 93 | |||
| TOTAL INCOME | 314 | 1,219 | 1,533 | 2,371 | |
| EXPENDITURE | |||||
| RAISING FUNDS | 66 | 103 | |||
| EXCHANGE RATE LOSSES |
12 | ||||
| CHARITABLE ACTMTIES | 561 | 1,250 | '1,811 | 2,014 | 6—9 |
| CHARITABLE ACTIVITIES EXCEPTIONAL | 541 | 541 | 173 | ||
| TOTAL EXPENDITURE | 1,168 | 1,250 | 2,418 | 2,302 | |
| OPERATIONAL SURPLUS/(DEFICIT) |
(854) | (31) | (885) | ||
| NET INVESTMENT GAINS / (LOSSES) | 449 | 27 | 476 | (358) | |
| NET MOVEMENT IN FUNDS | (405) | (4) | (409) | (289) | 18-19 |
| RECONCILIATION OF FUNDS |
|||||
| TOTAL FUNDS BROUGHT FORWARD | 3,028 | 451 | 3,479 | 3,768 | |
| TOTAL FUNDS CARRIED FORWARD | 2,623 | 3,070 | 3,479 |
| BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|
| UNRESTRICTED | RESTRICTED | 2021 TOTAL | 2020 TOTAL | NOTES TO | ||
| FUNDS | FUNDS | FUNDS | FUNDS | THE | ||
| f,000 | f,000 | f,000 | f,000 | ACCOUNTS | ||
| FIXED ASSETS | ||||||
| TANGIBLE ASSETS | 73 | 73 | 91 | 12 | ||
| HERII'AGE ASSETS | 567 | 567 | 567 | 12 | ||
| INVESTMENTS | 2,876 | 397 | 3,273 | 2,968 | 13 | |
| TOTAL FIXED ASSETS | 3,516 | 397 | 3,913 | 3,626 | ||
| CURRENT ASSETS | ||||||
| DEBTORS | 39 | 39 | 182 | 14 | ||
| CASH AT BANK AND | IN HAND | 208 | 50 | 258 | 761 | 21 |
| TOTAL CURRENT ASSETS | 247 | 50 | 297 | 943 | ||
| LIABILITIES | ||||||
| CREDITORS. AMOUNTS | FALLING | |||||
| DUE WITHIN ONE YEAR | 628 | 628 | 583 | 15 | ||
| NET CURRENT ASSETS/UABIUlTES | (381) | 50 | (331) | 360 | ||
| TOTAL ASSETS LESSCURRENT | ||||||
| LIABILITIES | 3,135 | 3,582 | 3,986 | |||
| PROVISION FOR LIABILITIES | 512 | 512 | 507 | 16 | ||
| TOTAL NET ASSETS | 2,623 | 447 | 3,070 | 3,479 | ||
| THE FUNDS OF THE BSR | ||||||
| RESTRICTED INCOME FUNDS | 447 | 451 | 18 | |||
| UNRESTRICTED FUNDS | 2,623 | 2,623 | 3,028 | 19 | ||
| TOTAL CHARITY FUNDS | 2,623 | 3,070 | 3,479 |
| STATEMENT OF CASH | STATEMENT OF CASH | STATEMENT OF CASH | FLOWS | FLOWS | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021TOTAL | 2020 TOTAL | NOTES TO THE | |||||||||
| FUNDS | FUNDS | ACCOUNTS | |||||||||
| f,000 | f,000 | ||||||||||
| Cash | flows from operating | actlvkles: | |||||||||
| Net cash provided | by (used | ln) operating | activities | (720) | (I8) | 20 | |||||
| Cash | flows from Investing | actMtles: | |||||||||
| Income from | Investments | 44 | 93 | ||||||||
| Proceeds | from sale of | Investments | 1,470 | 443 | 13 | ||||||
| Purchase of | Investments | (1,229) | (667) | 13 | |||||||
| Net cash provided | by (used In) Investing | actlvlttes: | (131) | ||||||||
| Change In cash and cash |
equivalents | In | the | reporting | period | (435) | (149) | ||||
| Cash | and cash equivalents | at the beginning | of | the reporting | period | 979 | 21 | ||||
| Change in cash and cash equivalents |
due to exchange rate movemenis | ||||||||||
| Cash | and cash equivalents | at the | end | rd the reporting | period | 837 | 21 | ||||
| ANALYSIS OF CHANGES IN |
NET CASH | ||||||||||
| AT fa APRIL | NET CASH | AT 31a MARCH | |||||||||
| 2020 | FLOW | 2021 | |||||||||
| E,000 | E,000 | f,000 | |||||||||
| Cash: | |||||||||||
| Bank | balances | 761 | (503) | 258 | |||||||
| Cash | In Investment | accounts | 76 | 70 | 146 | ||||||
| Totalcash | (433) | 404 |
| Unrestricted | Restricted | Tota I | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | |||
| f'000 | f'000 | f'000 | f'000 | |||
| Donations | and voluntary | income | 89 | 51 | 140 | 181 |
| Legacies | 230 | |||||
| BA Grant | 1,165 | 1,165 | 1,101 | |||
| Grants | 14 | 14 | 78 | |||
| Scholarship | sponsorship | 'I04 | 104 | 353 | ||
| 207 | 1,216 | 1,423 | 1,943 |
| ome from | charitabl | e activities: |
||
|---|---|---|---|---|
| Total | Total | |||
| 2021 | 2020 | |||
| f'000 | f'000 | |||
| Residence | income | 7 | 200 | |
| Course fees | 9 | 65 | ||
| Other charitable | activities | 37 | 70 | |
| 53 | 335 | |||
| VESTMEN | T INCOME | |||
| 2021 | 2020 | |||
| f'000 | f'000 | |||
| Dividends —UK equities | 44 | 93 | ||
| Interest | on cash deposits | |||
| 44 | 93 |
| penditure on charitable a |
ctivities is made up |
as follows: | |||
|---|---|---|---|---|---|
| Direct | Support | Total | Total | ||
| expenses | costs | 2021 | 2020 | ||
| f'000 | f'000 | f'000 | f'000 | ||
| Research and Residential | Programmes | 654 | 755 | 1,409 | 1,640 |
| Library | 255 | 62 | 317 | 331 | |
| Publications | 22 | 63 | 85 | 43 | |
| 931 | 880 | 1,811 | 2,014 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| f'000 | f'000 | |||
| British Academy | main grant | 994 | 930 | |
| British Academy | BDFgrant | 172 | 171 | |
| P. Smith | 36 | 77 | ||
| Rometrans | 38 | 2 | ||
| Fellowships | and | scholarships | 10 | 9 |
| Other | 12 | |||
| 1,250 | 1,201 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| f'000 | f'000 | ||||||
| Support | staff | salaries | and related | staff costs | 383 | 367 | |
| Building | maintenance | and utilities | costs | 206 | 196 | ||
| IT and equipment | maintenance | 100 | 52 | ||||
| Depreciation | 18 | 12 | |||||
| Consultants' | fees | 56 | 29 | ||||
| Other | 117 | 118 | |||||
| 880 | 774 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| f'000 | f'000 | |||
| Support staff | salaries and related staff costs | 218 | ||
| Consultants' | fees | 10 | ||
| Other —including | legal costs | 235 | ||
| Building | 78 | 173 | ||
| 541 | 173 |
| All | governance | expenditure | relates to unrestricted | relates to unrestricted | funds and | is Included | In support costs above. | |
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| f'000 | f'000 | |||||||
| Salaries | and related | costs | 11 | 8 | ||||
| Auditors' | remuneration | 16 | 17 | |||||
| Annual | Review | 4 | 4 | |||||
| Council | and committee | meetings | 51 | 8 | ||||
| 82 | 37 |
| iduals. There were no grants payable t |
o institutions (2020. none). |
|||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Grants paid: | No. | E'000 | No. | E'000 |
| Research | I | 28 | 5 | 23 |
| Scholarships | 17 | 55 | 41 | 74 |
| 18 | 83 | 46 | 97 |
| 2021 | 2020 | |
|---|---|---|
| Aggregate staff costs comprise. |
E'000 | f'000 |
| Wages and salaries | 668 | 701 |
| Taxes, social security and related costs | 320 | 347 |
| Pensions (note 16) | 28 | 25 |
| Staff deferred pay (note 16) |
44 | 36 |
| 1,060 | 1,109 |
| e number | o | f employees earning more than f60,000 |
is as follows: | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| No. | No. | |||
| f60,001 | to | f70,000 | 1 | |
| f70,001 | to | f80,000 | ||
| f110,001 | to | f120,000 |
| The average | number | number | of employees | analysed | by function was as follows'. | ||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| No. | No. | ||||||
| Research and | residential | 17 | 20 | ||||
| Publications | 1 | 1 | |||||
| Library | 5 | 5 | |||||
| Support | 5 | 3 | |||||
| Development | 1 | ||||||
| Management | and | administration | of the charity | 1 | |||
| 29 | 31 | ||||||
| Other benefits: |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| f'000 | f'000 | ||||
| Quoted | investments | 3,127 | 2,892 | ||
| Cash on | deposit | 146 | 76 | ||
| 3,273 | 2,968 | ||||
| Historical | cost | at 31 March: | |||
| Quoted | investments | 2,959 | 2,778 | ||
| The quoted investments |
comprise: | ||||
| 2021 | 2020 | ||||
| f'000 | f'000 | ||||
| UK equities | 390 | 808 | |||
| International | equities | 1,911 | 1,053 | ||
| UK bonds | 379 | 239 | |||
| Global | bonds | 36 | |||
| Portfolio funds | 74 | 191 | |||
| Property funds |
313 | ||||
| Other | 373 | 252 | |||
| 3,127 | 2,892 |
| The movement on quoted |
investments | comprises: | |||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| f'000 | f'000 | ||||
| Market value at 1 April |
2,892 | 3,025 | |||
| Additions at cost |
1,229 | 667 | |||
| Disposal proceeds | (1,470) | (443) | |||
| Foreign exchange gains | (losses) | ||||
| Realised gains (losses) | 218 | (6) | |||
| Unrealised gains (losses) |
258 | (351) | |||
| Market value at 31 March | 3,127 | 2,892 | |||
| Movements on Cosh Held |
|||||
| 2021 | 2020 | ||||
| f'000 | f'000 | ||||
| Cash held at 1 April |
76 | 223 | |||
| Sales | 1,470 | 443 | |||
| Dividends and interest |
44 | 93 | |||
| Disbursements for purchases |
(1,229) | (667) | |||
| Withdrawals | (200) | ||||
| Fees and charges | (15) | (16) | |||
| Balance at 31 March | 146 | 76 | |||
| 14. | DEBTORS | ||||
| 2021 | 2020 | ||||
| f'000 | f'000 | ||||
| Charitable activities debtors |
16 | 55 | |||
| Prepayments | 11 | 12 | |||
| Accrued income |
12 | 115 | |||
| 39 | 182 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| f'000 | f'000 | |||||
| Provision | for | staff | deferred | pay | 466 | 471 |
| Provision | for | USS | deficit | 46 | 36 | |
| 512 | 507 |
| he movem | ents in t |
he | staff deferred pay provision for the y |
ear are as follows: | |
|---|---|---|---|---|---|
| 202'I | 2020 | ||||
| f'000 | f'000 | ||||
| Balance | at 1 April | 471 | 418 | ||
| Increase | in provision | for the year | 44 | 36 | |
| Provision | released | (29) | 0 | ||
| Exchange | (gain)/ | loss | (20) | 17 | |
| Balance | at 31 March | 466 | 471 |
| The movement in the liability during |
The movement in the liability during |
the year was as follows: | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| f'000 | f'000 | |||
| Balance at 1 April | 36 | 35 | ||
| Increase / (decrease) | in provision | for the year | 10 | 1 |
| Balance at 31 March | 46 | 36 |
| Pension | increases (CPI) | increases (CPI) | Term dependent rates in line with the difference between the |
Term dependent rates in line with the difference between the |
|---|---|---|---|---|
| Fixed Interest and Index Linked yield curves, less 1.3% p.a. | ||||
| Discount | rate (forward | rates) | Years 1-10:CPI —0.14% reducing | linearly to CPI —0.73% |
| Years 11-20:CPI + 2.52% reducing | linearly to CPI + 1.55% by | |||
| year 21 | ||||
| Years 21+:CPI+1.55% |
| current life expectancies on retirement at age |
65 are: | |
|---|---|---|
| 2021 | 2020 | |
| Males currently aged 65 (years) |
24.6 | 24.4 |
| Females currently aged 65 (years) |
26.1 | 25.9 |
| Males currently aged 45 (years) |
26.6 | 26.3 |
| Females currently aged 45 (years) |
27.9 | 27.7 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Discount | rate | 2 00% | 2 59% | |
| Pension | increases | (CPI) | 3.00% | 4.20% |
| General | Library | Designated | Total | Total | |||
|---|---|---|---|---|---|---|---|
| funds | fund | funds | 2021 | 2020 | |||
| f'000 | E'000 | K'000 | E'000 | E'000 | |||
| At 1 April | 745 | 567 | 1,716 | 3,028 | 3,534 | ||
| Net resources | in / (out) | (828) | (26) | (854) | (180) | ||
| Gross transfers | between | funds | 767 | (767) | 14 | ||
| (Losses)/gains | on investments | 291 | 158 | 449 | (340) | ||
| At 31March | 975 | 567 | 1,081 | 2,623 | 3,028 |
| Reconciliation | o | f net | incom | e | /(expend | i | ture) to ne |
t | cash-fl | o | w | from operating | activities | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||||||||
| E'000 | E'000 | ||||||||||||||
| Net income/(expenditure) | for the reporting | period (as per the | |||||||||||||
| statement | of | financial | activities) | (409) | (289) | ||||||||||
| Adjustments | for: | ||||||||||||||
| Depreciation | charges | 18 | 12 | ||||||||||||
| Foreign exchange difference | on banks | accounts | (2) | (7) | |||||||||||
| (Gains) / | losses on | investments | (476) | 357 | |||||||||||
| Dividends, | interest and rents from |
investments | (44) | (93) | |||||||||||
| (Additions) | to | fixed assets | (84) | ||||||||||||
| Decrease / (increase) | in debtors | 143 | (72) | ||||||||||||
| (Decrease) | / | increase | in creditors | 45 | 104 | ||||||||||
| Increase/(decrease) | in | provisions | 5 | 54 | |||||||||||
| Net cash provided | by (used ln) | operating actlvltles |
(720) | (18) | |||||||||||
| 21. | ANALYSIS OF CASH AND CASH EQUIVALENTS | ||||||||||||||
| 2021 | 2020 | ||||||||||||||
| E'000 | E'000 | ||||||||||||||
| Cash in hand | |||||||||||||||
| Notice deposits (less than three | months) | 258 | 761 | ||||||||||||
| Cash In Investment | accounts | 146 | 76 | ||||||||||||
| Total cash | and cash equivalents | 404 | 837 | ||||||||||||
| 22. | FINANCIAL INSTRUMENTS |
||||||||||||||
| 2021 | 2020 | ||||||||||||||
| E'000 | E'000 | ||||||||||||||
| Financial assets | |||||||||||||||
| Financial assets measured | at fair | value through | the SoFA | 3,127 | 2,892 |
| Unrestricted | Restricted | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| f'000 | E'000 | E'000 | |||||
| Fund balances at 31 | March 2021 are represented | by. ' |
|||||
| Tangible | and heritage | fixed assets | 640 | 640 | |||
| Investments | 2,876 | 397 | 3,273 | ||||
| Cash | 208 | 50 | 258 | ||||
| Other current assets | 39 | 39 | |||||
| Current | liabilities | (628) | (628) | ||||
| Long-term | liabilities | (512) | (512) | ||||
| Total net | assets | 2,623 | 447 | 3,070 |
| UNRESTRICTED | RESTRICTED | 2020 TOTAL | ||
|---|---|---|---|---|
| FUNDS | FUNDS | FUNDS | ||
| f,000 | f,000 | f,000 | ||
| INCOME FROM | ||||
| DONATIONS | AND LEGACIES | |||
| DONATIONS AND VOLUNTARY |
478 | 56 | ||
| INCOME | ||||
| LEGACIES | 230 | 230 | ||
| BRITISH ACADEMY GRANT | 1,101 | 1,101 | ||
| OTHER GRANTS | 20 | 58 | 78 | |
| CHARITABLE ACTIVITIES | ||||
| EXCHANGE RATE GAINS |
||||
| CHARITABLE ACTIVITIES | 335 | 335 | ||
| INVESTMENTS | 88 | 93 | ||
| TOTAL INCOME | 921 | 1,450 | 2,371 | |
| EXPENDITURE | ||||
| RAISING FUNDS | 103 | 103 | ||
| EXCHANGE RATE LOSSES |
12 | 12 | ||
| CHARII'ABLE ACTIVITIES | 813 | 1,201 | 2,014 | |
| CHARITABLE | ACTIVITIES EXCEPTIONAL | 173 | 173 | |
| TOTAL EXPENDITURE | 1,101 | '1,201 | 2,302 | |
| NET GAINS/(LOSSES) ON |
||||
| INVESTMENTS | (340) | 08) | (358) | |
| NET INCOME/(EXPENDITURE) | (520) | 231 | (289) | |
| TRANSFERS BElWEEN FUNDS | 14 | (14) | ||
| NET MOVEMENT IN FUNDS |
(506) | 217 | (289) | |
| RECONCILIATION OF FUNDS |
||||
| TOTAL FUNDS | BROUGHT FORWARD | 3,534 | 234 | 3,768 |
| TOTAL FUNDS | CARRIED FORWARD | 3,028 | 451 | 3,479 |
| General | Library | Designated | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| funds | fund | funds | 2020 | 2019 | ||||
| f'000 | f'000 | f'000 | f'000 | f'000 | ||||
| At 1 April |
1,190 | 567 | 1,777 | 3,534 | 3,748 | |||
| Net incoming/ | (outgoing) | (175) | (5) | (180) | (280) | |||
| resources | ||||||||
| Gross transfers | between | funds | (32) | 46 | 14 | (8) | ||
| (Losses)/gains | on investments | (238) | (102) | (340) | 74 | |||
| At 31March | 745 | 567 | 1,716 | 3,028 | 3,534 | |||
| RICTED FUNDS | 2O20 | |||||||
| Fund | At | 1 April | Total | Total | Gains on | Transfers | At 31 | |
| Incoming | resources | investmen | March | |||||
| resources | expended | ts | ||||||
| f'000 | f'000 | f'000 | f'000 | f'000 | f'000 | |||
| P. Smith | 45 | 37 | (77) | 5 | ||||
| Cary | 89 | 3 | P) | (10) | 75 | |||
| Shortland-Jones | 230 | 230 | ||||||
| Marshall | 13 | 13 | ||||||
| Rometrans | 44 | (2) | 42 | |||||
| British Academy | 1,101 | (1,101) | ||||||
| RoMP | 14 | (14) | ||||||
| Brunswick | 5 | (2) | 3 | |||||
| Walker | 17 | 17 | ||||||
| Webb | 58 | (8) | 52 | |||||
| Other | 7 | 19 | (12) | 14 | ||||
| Tota I2020 | 234 | 1,450 | (1,201) | (18) | (14) | 451 |
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| f'000 | f'000 | f'000 | |||
| Fund balances at 31 | March 2020 are represented | by: | |||
| Tangible and heritage | fixed assets | 658 | 658 | ||
| Investments | 2,841 | 127 | 2,968 | ||
| Cash | 495 | 266 | 761 | ||
| Other current assets | 124 | 58 | 182 | ||
| Current liabilities |
(583) | (583) | |||
| Long-term liabilities |
(507) | (507) | |||
| Total net assets | 3,028 | 451 | 3,479 |