| Trustees | Lady M Hailer | |||
|---|---|---|---|---|
| WS Trustee Company | Limited | |||
| A Heller | ||||
| J Hailer | ||||
| Charity | number | 327832 | ||
| Principal | address | 2nd Floor | ||
| 12 Little Portland Street | ||||
| London | ||||
| W1W8BJ | ||||
| Auditor | Hart Shaw LLP | |||
| Europe Link |
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| Sheffield Business | Park | |||
| Sheffield | ||||
| Sg 1XU | ||||
| Bankers | The Royal Bank of | Scotland Pic | ||
| 62/63 Threadneedle | Street | |||
| London | ||||
| United Kingdom |
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| EC2R 8LA |
| Page | ||
|---|---|---|
| Trustees' report |
1-2 | |
| Statement oftrustees' |
responsibilities | |
| Independent auditor's |
report | 4-7 |
| Statement offinancial | activities | |
| Balance sheet | ||
| Notes to the financial | statements | 10-16 |
| Unrestricted | Endowment | Total | Unrestricted | Endowment | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||
| Notes | 6 | 6 | K | 6 | 6 | ||||
| Income from: | |||||||||
| Investments | 3 | 269,263 | 269,263 | 237,869 | 237,869 | ||||
| ~ddd | |||||||||
| Charitable | activities | 4 | 211,983 | 211,983 | 340,844 | 340,844 | |||
| Net gains/(losses) on |
|||||||||
| investments | 8 | (135,345) | (135,345) | (48,991) | (48,991) | ||||
| Net movement | in funds | 57,280 | (135,345) | (78,065) | (102,975) | (48,991) | (151,966) | ||
| Fund balances | at 1 June | ||||||||
| 2022 | 436,184 | 3,561,795 | 3,997,979 | 539,159 | 3,610,786 | 4,149,945 | |||
| Fund balances | at 31 | May | |||||||
| 2023 | 493,464 | 3,426,450 | 3,919,914 | 436,184 | 3,561,795 | 3,997,979 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | 6 | ||||||
| Fixed assets | |||||||
| Investment | property | 10 | 3,108,294 | 3,040,618 | |||
| Investments | 11 | 374,052 | 577,073 | ||||
| 3,482,346 | 3,817,891 | ||||||
| Current assets | |||||||
| Debtors | 13 | 229,361 | 274,831 | ||||
| Cash at bank and in | hand | 245,468 | 142,850 | ||||
| 474,829 | 417,881 | ||||||
| Creditors: | amounts | falling due within | |||||
| one year | 14 | (37,261) | (37,393) | ||||
| Net current | assets | 437,568 | 380,288 | ||||
| Total assets less current liabilities | 3,919,914 | 3,997,979 | |||||
| Capital funds | |||||||
| Endowment | funds - | eneral | |||||
| General endowment | funds | 3,426,450 | 3,561,795 | ||||
| 3,426,450 | 3,561,795 | ||||||
| Permanent | endowment | ||||||
| Expendable | endowment | 3,426,450 | 3,561,795 | ||||
| 15 | 3,426,450 | 3,561,795 | |||||
| Income funds | |||||||
| Unrestricted | funds | 493,464 | 436,184 | ||||
| 3,919,914 | 3,997,979 |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| 6 | |||
| Income | from property | 235,316 | 204,919 |
| Interest | receivable | 33,947 | 32,950 |
| 269,263 | 237,869 | ||
| Grants | payable | ||
| 2023 | 2022 | ||
| Grants | to institutions | 175,043 | 201,462 |
| Support | costs | ||||
|---|---|---|---|---|---|
| Support | Governance | ||||
| Costs | Costs | 2023 | 2022 | ||
| E | f | 6 | |||
| Bank charges | 35 | 35 | |||
| Audit fees | 550 | 550 | 550 | ||
| Accountancy | 4,175 | 4,175 | 3,950 | ||
| 35 | 4,725 | 4,760 | 4,504 | ||
| Analysed | between | ||||
| Charitable | activities | 220 | 4,540 | 4,760 | 4,504 |
| Endowment | Endowment | |||
|---|---|---|---|---|
| funds | funds | |||
| general | general | |||
| 2023 | 2022 | |||
| 6 | 6 | |||
| Revaluation | of | investments | (135,345) | (48,991) |
| Investment property |
||
|---|---|---|
| 2023 | ||
| E | ||
| Fair value | ||
| At 1 June 2022 | 3,040,618 | |
| Net gains or losses through | fair value adjustments | 67,676 |
| At 31 Msy 2023 | 3,108,294 |
| Listed | |
|---|---|
| investmentsf | |
| Cost or valuation | |
| At1 June2022 | 577,073 |
| Valuation changes |
(203,021) |
| At 31 May 2023 | 374,052 |
| Carrying amount |
|
| At 31 May 2023 | 374,052 |
| At 31 May 2022 | 577,073 |
| 12 | Financial | instruments | instruments | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 8 | f | ||||||||
| Carrying | amount | offinancial | assets | ||||||
| Debt instruments | measured | at | amortised | cost | 229,361 | 274,831 | |||
| Carrying | amount | offinancial | liabilities | ||||||
| Measured | at amortised | cost | 23,025 | 13,965 | |||||
| 13 | Debtors | ||||||||
| 2023 | 2022 | ||||||||
| Amounts | falling | due | within | one year: | 8 | 8 | |||
| Other debtors | 229,361 | 274,831 |
| 14 | Creditors: amounts falli |
ng | d | ue | within one | yea | r | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||||||||||
| 6 | 6 | ||||||||||||||||
| Other taxation and social | security | 14,236 | 23,428 | ||||||||||||||
| Trade creditors | 7,312 | ||||||||||||||||
| Accruals and deferred income | 23,025 | 6,653 | |||||||||||||||
| 37,261 | 37,393 | ||||||||||||||||
| 15 | Endowment funds |
||||||||||||||||
| Endowment funds represent assets which must be held |
permanently | by the charity. | Income arising | on the | |||||||||||||
| endowment funds can be used |
in | accordance | with the objects ofthe charity and is included as | unrestricted | |||||||||||||
| income. Any capital gains | or losses arising on |
the assets | form part of | the fund. | |||||||||||||
| Balance at | Investments | Balance at | Investments | Balance at | |||||||||||||
| 1 | June | 2021 6 |
galnsnosses 6 |
1June 2022 | gains/losses f |
31 May 2023 6 |
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| Expendable endowments |
|||||||||||||||||
| Capital Fund and accumulated | income 3,610,786 |
(48,991) | 3,561,795 | (135,345) | 3,426,450 | ||||||||||||
| 3,610,786 | (48,991) | 3,561,795 | (135,345) | 3,426,450 | |||||||||||||
| Under clause 3(iii) ofthe | Deed of Charitable | Settlement, | the trustees | are given the | power to | accumulate all |
|||||||||||
| or any part of the income | of the | trust funds | for a period | of | 21 years | from the date | of commencement | ofthe | |||||||||
| Foundation by investing |
the same in investments |
as an accretion to the capital of | the property | from which | |||||||||||||
| such income arose and as one fund therewith | for | all purposes. | |||||||||||||||
| The trustees are empowered |
to | apply both |
the capital and | the income for charitable purposes. |
Accordingly | ||||||||||||
| the trust fund is designated |
"The Expendable | Endowment | Fund" and incorporates | income | accumulations | ||||||||||||
| and undistributed income. |
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| 16 | Analysis of net assets between | funds | |||||||||||||||
| Unrestricted Endowment |
Total Unrestricted | Endowment | Total | ||||||||||||||
| funds | funds | funds | funds | ||||||||||||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||||||||||
| 6 | 6 | E | 6 | 6 | |||||||||||||
| Fund balances at 31 | |||||||||||||||||
| May 2023 are | |||||||||||||||||
| represented by: |
|||||||||||||||||
| Investment properties |
3,108,294 | 3,108,294 | 3,040,618 | 3,040,618 | |||||||||||||
| Investments | 374,052 | 374,052 | 577,073 | 577,073 | |||||||||||||
| Current assets/(liabilities) |
437,568 | 437,568 | 380,288 | 380,288 | |||||||||||||
| 3,919,914 | 3,919,914 | 3,997,979 | 3,997,979 |