| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details | |||
| Trustees' report |
2-6 | |||
| Trustees' responsibilities statement |
||||
| Independent auditor's |
report | to the trustees ofThe Royal Grammar | School Educational | 8-11 |
| Trust | ||||
| Statement offinancial | activities | 12 | ||
| Balance sheet | 13 | |||
| Statement ofcash flows | 14 | |||
| Notes to the financial | statements | 15-28 |
| A Fletcher (ex-officio) (appointed | A Fletcher (ex-officio) (appointed | A Fletcher (ex-officio) (appointed | 22 | November 2021) | November 2021) | November 2021) | November 2021) | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trustees | M Squires (co-opted) | |||||||||||
| J Drummond (appointed |
by | the | Governors | of the | Royal | Grammar | School) | |||||
| (resigned 22 November | 2021) | |||||||||||
| P Haggis (ex officio) (resigned 21 November |
2022) | |||||||||||
| J Marks (co-opted) | ||||||||||||
| N J McMinn (appointed |
by the Governors | ofthe | Royal Grammar | School) | ||||||||
| N R Paten (co-opted) | ||||||||||||
| G EStanford (appointed |
by the | Governors | ofthe Royal | Grammar | School) | |||||||
| Charity registered | ||||||||||||
| number | 508285 | |||||||||||
| Principal office | Eskdale Terrace | |||||||||||
| Newcastle upon Tyne |
||||||||||||
| NE2 4DX | ||||||||||||
| Secretary to | the Trust | C F Black | ||||||||||
| Independent | auditor | UNW LLP | ||||||||||
| Chartered Accountants |
||||||||||||
| Citygate | ||||||||||||
| St James' Boulevard | ||||||||||||
| Newcastle upon Tyne |
||||||||||||
| NE1 4JE | ||||||||||||
| Bankers | Barclays Bank PLC | |||||||||||
| PO BOX379 | ||||||||||||
| 71 Grey Street | ||||||||||||
| Newcastle upon Tyne |
||||||||||||
| NE99 1JA | ||||||||||||
| Investment | advisors | COLA | ||||||||||
| Senator House | ||||||||||||
| 85Queen Victoria Street | ||||||||||||
| London | ||||||||||||
| EC4V 4ET |
| Unrestricted | Restricted | Endowment | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | |||||
| Note | 2022 6 |
2022 8 |
2022f | 2022 6 |
2021 5 |
||||
| Income and | |||||||||
| endowments | from: | ||||||||
| Donations and |
legacies | 3 | 1,235,334 | 1,235,334 | 899,636 | ||||
| Investments | 4 | 135,691 | 10,088 | 145,779 | 156,568 | ||||
| Total income |
and | ||||||||
| endowments | 1,371,025 | 10,088 | 1,381,113 | 1,056,204 | |||||
| Expenditure | on: | ||||||||
| Raising funds | 1,172 | ||||||||
| Charitable activities |
861,197 | 61,039 | 922,236 | 839,275 | |||||
| Total expenditure | 861,197 | 61,039 | 922,236 | 840,447 | |||||
| Net (losses)/gains | on | ||||||||
| investments | (78,135) | (1,287) | (3,113) | (82,535) | 692,686 | ||||
| Net movement |
in | ||||||||
| funds | 431,693 | (52,238) | (3,113) | 376,342 | 908,443 | ||||
| Reconciliation | of | ||||||||
| funds: | |||||||||
| Total funds brought | |||||||||
| forward | 5,113,684 | 350,846 | 284,225 | 5,748,755 | 4,840,312 | ||||
| Net movement | in funds | 431,693 | (52,238) | (3,113) | 376,342 | 908,443 | |||
| Total funds |
carried | ||||||||
| forward | 5,545,377 | 298,608 | 281,112 | 6,125,097 | 5,748,755 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | F | |||||||
| Fixed assets | ||||||||
| Investments | 5,287,617 | 4,870,152 | ||||||
| Current assets | ||||||||
| Debtors | 9 | 543,819 | 86,883 | |||||
| Cash at bank | and in hand | 295,389 | 796,038 | |||||
| 839,208 | 882,921 | |||||||
| Creditors: amounts | falling | due within one | ||||||
| year | 10 | (1,728) | (4,318) | |||||
| Net current | assets | 837,480 | 878,603 | |||||
| Total assets | less current | liabilities | 6,125,097 | 5,748,755 | ||||
| Total net assets | 6,125,097 | 5,748,755 | ||||||
| Charity funds | ||||||||
| Endowment | funds | 11 | 281,112 | 284,225 | ||||
| Restricted funds |
11 | 298,608 | 350,846 | |||||
| Unrestricted | funds | 11 | 5,545,377 | 5,113,684 | ||||
| Total funds | 6,125,097 | 5,748,755 |
| Note | 2022 6 |
2021f | |||||
|---|---|---|---|---|---|---|---|
| Cash flows from operating | activities | ||||||
| Net cash (used in)/generated | from operating | activities | 13 | (146,428) | 307,093 | ||
| Cash flows from investing | activities | ||||||
| Dividends, interests and rents from investments |
145,779 | 156,568 | |||||
| Proceeds from sale of investments | 1,472,220 | ||||||
| Purchase ofinvestments | (500,000) | (1,471,681) | |||||
| Net cash (used in)/generated | from investing | activities | (354,221) | 157,107 | |||
| Change in cash and cash |
equivalents in |
the | year | (500,649) | 464,200 | ||
| Cash and cash equivalents | at the beginning | of | the year | 796,038 | 331,838 | ||
| Cash and cash equivalents | at the end of | the | year | 14 | 295,389 | 796,038 | |
| The notes on pages 15to 28 | form part ofthese | financial statements |
| unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022f | 2022 6 |
2022 | ||||
| Charitable | trusts | 13,000 | 13,000 | |||
| Legacies | 266,000 | 266,000 | ||||
| The Newcastle | upon Tyne Royal Grammar | School | 450,000 | 450,000 | ||
| individuals | 506,334 | 506,334 | ||||
| 1,235,334 | 1,235,334 | |||||
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| 6 | 6 | |||||
| Charitable | trusts | 13,000 | 13,000 | |||
| Legacies | 170,888 | 170,888 | ||||
| The Newcastle | upon Tyne Royal Grammar | School | 396,928 | 396,928 | ||
| Individuals | 308,414 | 10,406 | 318,820 | |||
| 889,230 | 10,406 | 899,636 |
| Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022f | 2022 6 |
2022 6 |
||||
| Income | from | listed | investments | 135,691 | 10,088 | 145,779 |
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| 2021f | 2021 6 |
2021 f |
||||
| Income | from | listed | investments | 138,093 | 18,475 | 156,568 |
| Unrestricted | Restricted | Endowment | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2021f | 2021 f |
2021 f. |
2021 f |
|
| Fees | 1,114 | 28 | 30 | 1,172 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022f | 2022f | ||
| Charitable | activities | 861,197 | 61,039 | 922,236 |
| Unrestricted | Restdicted | Total | ||
| funds | funds | funds | ||
| 2021 f. |
2021f | 2021f | ||
| Charitable | activities | 745,619 | 93,656 | 839,275 |
| Direct | Support | Total | ||
|---|---|---|---|---|
| costs | costs | funds | ||
| 2022 | 2022 | 2022 | ||
| E | E | |||
| Grants awarded | 904,035 | 18,201 | 922,236 | |
| Direct | Support | Total | ||
| costs | costs | funds | ||
| 2021 | 2021 | 2021 | ||
| E | E | E | ||
| Grants awarded | 828,468 | 10,807 | 839,275 | |
| Analysis | ofsupport costs | |||
| Total | Total | |||
| funds | funds | |||
| 2022 | 2021 | |||
| E | E | |||
| Special prelect expenses Auditor's remuneration Bank charges |
5,759 3,750 1,433 |
6,945 3,620 242 |
||
| Other expenses | 7,259 | |||
| 18,201 | 10,807 |
| Debtors | |||
|---|---|---|---|
| 2022 | 2021 | ||
| F | |||
| Other debtors Prepayments |
and accrued income | 456,516 87,303 |
10,406 76,477 |
| 543,819 | 86,883 |
| 2022 | 2021f | |||
|---|---|---|---|---|
| 154 | ||||
| Other creditors Accruals and deferred |
income | 1,728 | 4,164 | |
| 1,728 | 4,318 |
| Statement offund | s -curre | nt year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | Balance at | ||||||
| 'I August 2021f |
Income f |
Expenditure | Gains/ (Losses) 6 |
31July 2022 |
|||
| Unrestricted funds |
|||||||
| Designated funds |
|||||||
| John Cockburn Macdonald |
Memorial | ||||||
| Fund Stemson Fund |
81,415 56,731 |
2,306 1,607 |
(1,328) (925) |
82,393 57,413 |
|||
| Bursary Campaign | Fund | 17,137 | 1,235,819 | (842,996) | (279) | 409,681 | |
| Wolfson Foundation |
Bursary | Fund | 324,129 | 9„179 | (5,286) | 328,022 | |
| 479,412 | 1,248,911 | (842,996) | (7,818) | 877,509 | |||
| General funds | |||||||
| General Fund |
4,634,272 | 122,114 | (18,201) | (70,317) | 4,667,868 | ||
| Total unrestricted | funds | 5,1'I3,684 | 1,371,025 | (861,197) | (78,135) | 5,545,377 | |
| Endowment funds |
|||||||
| Ritchie Fund | 284,225 | (3,113) | 281,112 |
| Statement offu | nds (continued) | |||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 August 2021f |
Income 6 |
Expenditure | Gains/ (Losses) f |
31July 2022 6 |
||
| Restricted funds | ||||||
| Red Box Fund Coomblea Trust |
420 10,587 |
12 300 |
(425) | ('7) (173) |
10,714 | |
| Recce Foundation | 42,333 | 1,199 | (14,499) | (689) | 28,344 | |
| Ratcliff Fund | 2,587 | 73 | (2,618) | (42) | ||
| Ritchie Fund | 8,654 | 8,097 | (14,499) | (141) | 2,111 | |
| Kenneth Halton |
Imison Fund | 13,346 | 378 | (218) | 13,506 | |
| Dr Carr Fund | 1,016 | 29 | (17) | 1,028 | ||
| Advani Fund |
185,545 | (14,499) | 171,046 | |||
| Flagstone Fund |
86,358 | (14,499) | 71,859 | |||
| 350,846 | 10,088 | (61,039) | (1,287) | 298,608 | ||
| Total offunds | 5,748,755 | 1,381,113 | (922,236) | (82,535) | 6,125,097 |
| Statement offund | s -prior | year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | Balance at | ||||||
| 1 August 2020 6 |
Income f |
Expenditure 6 |
Transfers in/out 6 |
Gains/ (Losses) F |
31July 2021 |
||
| Unrestricted funds |
|||||||
| Designated funds |
|||||||
| John Cockburn Macdonald |
|||||||
| Memorial Fund Stemson Fund |
68,436 47,687 |
2,318 1,615 |
(19) (13) |
10,680 7,442 |
81,415 56,731 |
||
| Bursary Campaign Wolfson Foundation |
Fund | 632,073 | 21,408 | (734,985) | 98,641 | 17,137 | |
| Bursary Fund | 272,456 | 9,228 | (74) | 42,519 | 324,129 | ||
| 1,020,652 | 34,569 | (735,091) | 159,282 | 479,412 | |||
| General funds | |||||||
| General Fund |
3,177,792 | 992,754 | (11,642) | (1,631) | 476,999 | 4,634,272 | |
| Total unrestricted | funds | 4,198,444 | 1,027,323 | (746,733) | (1,631) | 636,281 | 5,113,684 |
| Endowment funds |
|||||||
| Ritchie Fund | 247,884 | (30) | (4,302) | 40,673 | 284,225 |
| 11. | Statement of funds (continued) | Statement of funds (continued) | Statement of funds (continued) | |||||
|---|---|---|---|---|---|---|---|---|
| Balance at 1 August 2020f |
Income | Expenditure f |
Transfers in/out f. |
Gains/ (Losses) f |
Balance at 31 July 2021 f |
|||
| Restricted funds | ||||||||
| Red Box Fund | 353 | 12 | 55 | 420 | ||||
| Stokoe Fund Coomblea Trust |
(1,371) 8,899 |
(46) 301 |
(2) | 1,631 | (214) 1,389 |
10,587 | ||
| Recce Foundation | 70,573 | 12,797 | (52,051) | 11,014 | 42,333 | |||
| Ratcliff Fund | 2,175 | 74 | (1) | 339 | 2,587 | |||
| Ritchie Fund | 8,108 | 8,856 | (13,877) | 4,302 | 1,265 | 8,654 | ||
| Kenneth Halton Fund Dr Carr Fund |
Imison | 11,218 854 |
380 29 |
(3) | 1,751 133 |
13,346 1,016 |
||
| Advani Fund Flagstone Fund |
195,109 98,066 |
4,311 2,167 |
(13,875) (13,875) |
185,545 86,358 |
||||
| 393,984 | 28,881 | (93,684) | 5,933 | 15,732 | 350,846 | |||
| Total offunds | 4,840,312 | 1,056,204 | (840,447) | 692686 | 5,748,755 |
| Analysis of net asse | ts between | funds - | curre | nt year | nt year | nt year | |||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2022 | 2022 | 2022 | 2022 | ||||||
| 6 | 6 | 6 | |||||||
| Fixed asset investments | 4,707,897 | 298 608 | 281 112 | 5,287,617 | |||||
| Current assets | 839,208 | 839,208 | |||||||
| Creditors due within | one year | (1,728) | (1,728) | ||||||
| Total | 5,545,377 | 298,608 | 281,112 | 6,125,097 | |||||
| Analysis of net assets between | funds - | prior | year | ||||||
| Unrestricted | Restricted | Endowment | Total | ||||||
| funds | funds | funds | funds | ||||||
| 2021 | 2021 | 2021 | 2021 | ||||||
| 6 | 6 | 6 | |||||||
| Fixed asset investments | 4,235,081 | 350,846 | 284,225 | 4,870,152 | |||||
| Current assets | 882,921 | 882,921 | |||||||
| Creditors due within | one year | (4,318) | (4,318) | ||||||
| Total | 5,113,684 | 350,846 | 284,225 | 5,748,755 | |||||
| Reconciliation of net movement |
in funds to | net cash flow from operating | activities | ||||||
| 2022 6 |
2021f | ||||||||
| Net income for the year (as per statement | offinancial | activities) | 376,342 | 908,443 | |||||
| Adjustments for: |
|||||||||
| Losses/(gains) on investments |
82,535 | (692,686) | |||||||
| Dividends, interests |
and rents from investments | (145,779) | (156,568) | ||||||
| (Increase)/decrease | in debtors | (456,936) | 246,985 | ||||||
| (Decrease)/increase | in creditors | (2,590) | 919 | ||||||
| Net cash generated | from/(used | in) operating | activities | (146,428) | 307,093 |