| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | I to 5 | |||
| Report ofthe Independent Auditors |
6 to 8 | |||
| Statement | of Financial | Activities | ||
| Balance | Sheet | 10 | ||
| Statement | ofCash Flows | |||
| Notes to | the Financial | Statements | 12 to 17 | |
| Detailed | Statement of |
Financial | Activities | 18to 19 |
| Investment Income |
273,502 |
|---|---|
| Interest Income | 12,916 |
| Gifls & Donations | 245,114 |
| School House Rental Income | 17,300 |
| Miscellaneous | 22,343 |
| 6571,175 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Tola1 | Total | ||||
| funds | funds | funds | funds | funds | ||||
| Notes | f | f | ||||||
| INCOMING RESOURCES | ||||||||
| Incoming resources from |
||||||||
| Generated funds |
||||||||
| Voluntary income |
42,636 | 242,121 | 284,757 | 3,556,989 | ||||
| Investment income |
27,838 | 173,612 | 84,967 | 286,417 | 270,077 | |||
| Total incoming resources |
70,474 | 415,733 | 84,967 | 571,174 | 3,827,067 | |||
| RESOURCES EXPENDED | ||||||||
| Costs ofgenerating funds |
||||||||
| lnvestmeni management costs |
5,473 | 32,268 | 17,866 | 55,606 | 52,599 | |||
| Charitable activities |
||||||||
| Fund Raising costs | 542 | 54,306 | 54,848 | 40,130 | ||||
| Gmnts & awards —School | and | |||||||
| general | 7,158 | 444,844 | 200 | 452,201 | 2,236,330 | |||
| The Latymer House | 2,325 | 2,325 | 1,891 | |||||
| Outdoor pursuit centre |
17,829 | 17,829 | 19,634 | |||||
| Governance costs |
31,747 | 5,978 | 3,515 | 41,239 | 61,556 | |||
| Total resources expended | 65,073 | 537,396 | 21,580 | 624,048 | 2,412,139 | |||
| NET INCOMING/(OUTGOIPIG) | ||||||||
| RESOURCES BEFORE | ||||||||
| TRANSFERS | 5,401 | (121,662) | 63,387 | (52,874) | 1,414,928 | |||
| Gross transfers between |
funds | 16 | 63,387 | (63,387) | ||||
| Net incoming/(outgoing) | ||||||||
| Resources before other recognised | ||||||||
| gains aad losses | 68,788 | (121,662) | (52,874) | 1,414,928 | ||||
| Other recognised gains/losses |
||||||||
| Gains/(losses) on investment |
assets | (48,390) | (443,648) | (158,423) | (650,461) | 186,287 | ||
| Unrealised Gain on fixed asset |
||||||||
| revaluation | 16 | 115,000 | 42,910,000 | 43,025,000 | ||||
| Net movement in funds |
135,398 | (565,310) | 42,751,577 | 42,321,665 | 1,601,215 | |||
| RECONCILIATION OF FUNDS |
||||||||
| Total funds brought fomvard |
1,182,533 | 8,637,817 | 32,539,176 | 42,359,527 | 40,758,312 | |||
| TOTAL FUNDS CARRIED | ||||||||
| FORWARD | 1,317,931 | 8,072,507 | 75,290,753 | 84,681,192 | 42,359,527 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| funds | funds | funds | funds | funds | ||
| Notes | g | |||||
| FIXEDASSETS | ||||||
| Tangible assets | 12 | 280,000 | 72,760,000 | 73,040,000 | 30,015,000 | |
| Investments | 13 | 762,905 | 4,415,522 | 2,481,378 | 7,659,805 | 8,310,266 |
| 1,042,905 | 4,415,522 | 75,241,378 | 80,699,805 | 38,325,266 | ||
| CURRENT ASSETS | ||||||
| Debtors | 14 | 14,333 | 6,687 | 21,019 | 469,856 | |
| Cash at bank and in hand | 292,152 | 3,812,771 | 50,269 | 4,155,192 | 3,728,491 | |
| 306,485 | 3,819,458 | 50,269 | 4,176,211 | 4,198,346 | ||
| CREDITORS | ||||||
| Amounts falling due within one |
||||||
| year | 15 | (31,458) | (162,473) | (893) | (194,824) | (164,085) |
| NET CURRENT ASSETS | 275,027 | 3,656,984 | 49,376 | 3,981,387 | 4,034,261 | |
| TOTAL ASSETSLESS | ||||||
| CURRENT LIABILITIES | 1,317,931 | 8,072,507 | 75,290,753 | 84,681,192 | 42,359,527 | |
| NKT ASSETS | 1,317,931 | 8,072,507 | 75,290,753 | 84,681,192 | 42,359,527 | |
| FUNDS | 16 | |||||
| Unrestricted funds |
1,317,931 | 1,182,533 | ||||
| Restricted funds | 8,072,507 | 8,637,817 | ||||
| Endowment funds |
75,290,753 | 32,539,177 | ||||
| TOTAL FUNDS | 84,681,192 | 42,359,527 |
| Notes | 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|---|
| f | f | |||||||
| Cash flows from operating | activities | 20 | ||||||
| Cash generated from |
operations | 426,701 | 1,025,840 | |||||
| Investing activities |
||||||||
| Funds withdrawn | ||||||||
| Funds invested | ||||||||
| Gains on fixed assets | investments | |||||||
| Net cash generated | from investing | activities | ||||||
| Net increase in cash |
426,701 | 1,025,840 | ||||||
| Cash at beginning ofyear |
3,728,491 | 2,702,651 | ||||||
| Cash at end ofyear | 4, | 155,192 | 3,728,491 |
| At | start ofyear f |
Cash floivs | At end ofyear | |
|---|---|---|---|---|
| Cash | 3,728,491 | 426,701 | 4,155,192 |
| VOLUNTARY | INCOME | ||
|---|---|---|---|
| 2023f | 2022 | ||
| Gifts | 245,114 | 3,530,320 | |
| Music instrument | hire | 6,560 | 6,084 |
| YSGGL Laiynier | income | 13,275 | |
| Latymer House income Sundiy income |
17,300 2,508 |
16,800 3,785 |
|
| 284,757 | 3,556,989 | ||
| INVESTMENT | INCOME | ||
| 2023f | 2022 | ||
| Investment income |
273,502 | 269,770 | |
| Interest receivable | 12,916 | 307 | |
| 286,418 | 270,077 |
| 2023 | 2022f | ||||||
|---|---|---|---|---|---|---|---|
| Investment Management |
Fees | 55,606 | 52,599 | ||||
| DIRECT COSTS | OF | CHARITABLE ACTIVITIES | |||||
| Direct costs | Grant funding | ||||||
| YSGOL/Latymer | House | ofactivities | |||||
| (See note 6) | (See note 7) | Totalsf | |||||
| Outdoor pursuit centre |
17,829 | 17,829 | |||||
| Repairs to the Latymer | House | 2,325 | 2,325 | ||||
| Fund Raising costs | 54,848 | 54,848 | |||||
| Grants & awards —School and general | 452,201 | 452,201 | |||||
| 20,154 | 507,049 | 527,203 | |||||
| MANAGEMENT | OF | YSGOL LATYMER OUTDOOR | PURSUIT CENTRE | 2023 | 2022f | ||
| Administrative fees icates and water |
12,746 2,294 |
9,412 2,319 |
|||||
| Insurance | |||||||
| Light and heat | 1,709 | 3,874 | |||||
| Telephone | 1,080 | 988 | |||||
| Repairs and maintenance | 3,042 | ||||||
| 17,829 | 19,634 | ||||||
| LATYMER HOUSE | |||||||
| Repairs to The Latymer | House | 2,325 | 1,891 | ||||
| GRANTS PAYABLK | |||||||
| 2023 | 2022 | ||||||
| Fund raising costs Purchase ofMusical Instruments Grants & awards —School and general |
54,848 452,201 |
40,130 8,206 2,228,124 |
|||||
| 507,049 | 2,276,460 | ||||||
| GOVERNANCE COSTS |
2023f | 2022 | |||||
| Administrative fees |
2,725 | 3,340 | |||||
| Travelling and hospitality |
195 | 147 | |||||
| Printing, postage & stationery |
349 | 57 | |||||
| Telephone costs | 1,171 | ||||||
| Auditors' remuneration |
9,045 | 9,042 | |||||
| Insurance | 5,500 | 5,024 | |||||
| Gifts and presents | 1,040 | 1,211 | |||||
| Bank charges | 188 | 145 | |||||
| Books and subscriptions | 1,911 | 1,721 | |||||
| Foundation day expenses |
2,207 | 733 | |||||
| Repairs & Maintenance | 1,021 | ||||||
| Legal and professional | fees | 6,065 | 23,300 | ||||
| Archivist | 3,058 | 2,462 | |||||
| Sundry costs |
7,786 | 13,354 | |||||
| 41,239 | 61,555 |
| TANCIBLE FIXED | ASSETS | Freehold | |
|---|---|---|---|
| Propertiesf | |||
| At I April 2022 | 30,015,000 | ||
| Unrealised Revaluation |
ofFreehold | Property | 43,025,000 |
| At 31 March 2023 | 73,040,000 | ||
| CARRYING AMOUNT | |||
| At 31 March 2023 | 73,040,000 | ||
| At 31 March 2022 | 30,015,000 |
| FIXED ASSET INVESTMENTS | FIXED ASSET INVESTMENTS | Investmentsf |
|---|---|---|
| At 1 April 2022 Revaluations |
8,310,266 (650,461) |
|
| At 31 March 2023 | 7,659,805 | |
| CARRYING VALUE | ||
| At 31 March 2023 | 7,659,805 | |
| At 3 1 Match 2022 | 8,310,266 | |
| There were no investment | assets outside the UK |
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Other debtors | 21,019 | 469,856 | ||||||||
| 15. | CRKDITORSt | AMOUNTS FALLING DUE WITHIN | ONE YEAR | |||||||
| 2023f | 2022 | |||||||||
| Other creditors | 194,824 | 163,993 | ||||||||
| Accrued expenses | 92 | |||||||||
| 194,824 | 164,085 | |||||||||
| 16. | MOVEMENT IN FUNDS |
Net | movement | Transfer | ||||||
| At 1.4.22 f |
in | funds f |
between f |
funds | Adjustments | At 31.3.23 f |
||||
| Unrestricted funds |
||||||||||
| General fund |
1,182,534 | 72,011 | 63,387 | 1,317,931 | ||||||
| Restricted funds |
||||||||||
| Restricted Funds | 8,637,817 | (565,3 10) | 8,072,507 | |||||||
| Endowment funds |
||||||||||
| Endowment Fund |
32,539,176 | 42,814,964 | (63,387) | 75,290,753 | ||||||
| TOTAL FUNDS | 42,359,527 | 42,321,664 | 84,681,191 | |||||||
| Net movement in |
funds, included | in the above are as | follows: | |||||||
| Incoming | Resources | Gains and | Movement | |||||||
| resources | expended | losses | in funds | |||||||
| f | f | |||||||||
| Unrestricted funds |
||||||||||
| General fund |
70,474 | (65,073) | 66,610 | 72,011 | ||||||
| Restricted fumls |
||||||||||
| Restricted funds | 415,733 | (537,396) | (443,648) | (565,310) | ||||||
| Endowment funds |
||||||||||
| Endowment Fund |
84,967 | (21,580) | 42,751,577 | 42,814,964 | ||||||
| TOTAL FUNDS | 571,174 | (624,049) | 42,374,539 | 42,321,664 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| f | ||||||
| Surplus for | the year | 42,321,664 | 1,601,215 | |||
| Unrealised | (gain) on the | revaluation | offreehold | property | (43,025,000) | |
| Unrealised | (gains)/losses | on fixed | assets investments | 650,461 | (186,287) | |
| Movements | in working | capital: | ||||
| (Intense)/decrease in debtors |
448,837 | (426,843) | ||||
| (Decrease)/increase in creditors |
30,739 | 37,755 | ||||
| Cash generated from operations |
426,701 | 1,025,840 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| g | g | |||
| INCOMING RESOIJRCES | ||||
| Voluntary income |
||||
| Gills &donations | 245,114 | 3,530,320 | ||
| Music instrument hire YSGOL Latymer income |
6,560 13,275 |
6,084 | ||
| Latymer House income | 17,300 | 16,800 | ||
| Sundry income |
2,508 | 3,785 | ||
| 284,757 | 3,556,989 | |||
| Investmeat income |
||||
| Investment income |
273,502 | 269,770 | ||
| Interest receivable | 12,916 | 307 | ||
| 286,417 | 270,077 | |||
| Total incoming resources |
571,174 | 3,827,066 | ||
| RESOURCES EXPENDED | ||||
| Investment management |
costs | |||
| Investment management |
fees | 55,606 | 52,599 | |
| Charitable activities |
||||
| Administrative fees |
12,746 | 9,412 | ||
| Rates and water | 2,294 | 2,319 | ||
| Insurance | ||||
| Light and heat | 1,709 | 3,874 | ||
| Telephone | 1,080 | 988 | ||
| Repairs and maintenance Refurbishment ofLatymer |
House | 2,325 | 3,042 1,891 |
|
| Fund Raising Costs | 54,848 | 40,130 | ||
| Grants and awards | 452,201 | 2,236,330 | ||
| 527,203 | 2,297,986 | |||
| Governance costs |
||||
| Administrative fees |
2,725 | 3,340 | ||
| Travelling and hospitality |
195 | 147 | ||
| Printing, postage &stationery |
349 | 57 | ||
| Telephone | 1,171 | |||
| Auditors' remuneration |
9,045 | 9,042 | ||
| Insurance | 5,500 | 5,024 | ||
| Gifts and presents | 1,040 | 1,211 | ||
| Bank charges | 188 | 145 | ||
| Books and subscriptions | 1,911 | 1,721 | ||
| Foundation day expenses |
2,207 | 733 | ||
| Legal and professional | fees | 6,065 | 23,300 | |
| Repairs and maintenance |
1,021 | |||
| Carried forward | 30,396 | 45,741 |
| Governance costs |
Governance costs |
2023f | 2022 | |||
|---|---|---|---|---|---|---|
| Brought forward | 30,396 | 45,741 | ||||
| Archivist | 3,058 | 2,462 | ||||
| Sundry costs | 7,786 | 13,354 | ||||
| 41,239 | 61,555 | |||||
| Total resources | expended | 624,048 | 2,412,140 | |||
| Gross transfers | between | funds | ||||
| Net income before gains | and losses | (52,875) | 1,414,926 | |||
| Recognised gains and |
losses | |||||
| Realised (losses)/gains | on | fixed asset investments | 78,406 | 195,781 | ||
| Unrealised gains/(losses) |
on fixed asset | investments | (728,867) | |||
| (9,494) | ||||||
| Unrealised gains |
/(losses) | on revaluation | offieehold property | 43,025,000 | ||
| Net income | 42,321,664 | 1,601,213 |