| Page | |||
|---|---|---|---|
| Reference and Administrative Details |
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| Report ofthe Trustees | 2 | to | 8 |
| Report ofthe Independent Auditors |
9 | to | 11 |
| Statement ofFinancial ActivMes | 12 | ||
| Balance Sheet | 13 | ||
| Notes to the Financial Statements | 14 | to | 19 |
| Detailed Statement of Financial Activities | 20 | to | 21 |
| TRUSTEES | Mrs J L Davis | |||||
|---|---|---|---|---|---|---|
| Mr A O' Brien (resigned | 12.10.2020) | |||||
| Mr D Carter Chairman | ||||||
| Mr P Arkinstafi | (resigned | 12.10.2020) | ||||
| Mr R Baizley (resigned | 12.10.2020) | |||||
| Mr P Sheriff (resigned | 12.10.2020) | |||||
| Mrs AWesson | (resigned | 12.10.2020) | ||||
| Mr I Myatt (resigned | 12.10.2020) | |||||
| Mrs R Heitmar | (resigned | 12.10.2020) | ||||
| Mr M Qureshi | (resigned 12.10.2020) | |||||
| Mr M Maybury | (resigned | 12.10.2020) | ||||
| Mr D Robson | ||||||
| Mr A Robinson | (appointed | 12.10.2020) | ||||
| Mr M King (appointed 12.10,2020) Mr R Bhandal (appointed 7.9.2020) (resigned 12.10.2020) |
||||||
| PRINCIPAL ADDRESS | Lichfield Road | |||||
| Sutton Coldfield | ||||||
| West Midlands | ||||||
| B742NH | ||||||
| REGISTERED CHARITY NUMBER | 517907 | |||||
| AUDITORS | Harwoods | |||||
| (Statutory auditor) |
||||||
| 1 Trinity Place | ||||||
| Midland Drive |
||||||
| Sutton Coldfield | ||||||
| West Midlands | ||||||
| 872 1TX | ||||||
| SOLICITORS | Eddows Perry | Osbourne | ||||
| 46 High Street | ||||||
| Sutton Coldfield | ||||||
| B72 1UL | ||||||
| Browne Jacobson | ||||||
| Victoria Square | House | |||||
| Victoria Square | ||||||
| Birmingham | ||||||
| B24BU | ||||||
| ADVISERS | Quilter Cheviot | |||||
| Two Snowhifi | ||||||
| Birmingham | ||||||
| B46GA |
| FO | R THE YEAR | ENDED 31AUGU | ST 2021 | ||||
|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||
| Unrestricted | Restricted | Endowment | Total | Total | |||
| Notes | funds f |
funds 5 |
fund 5 |
funds 5 |
fundsf | ||
| INCOII/IE AND ENDOWMENTS | |||||||
| FROM | |||||||
| Donations and legacies |
87,594 | 6,589 | 94,183 | 157,791 | |||
| Investment income |
124 | 105,837 | 105,961 | 100,778 | |||
| Other income | 29,658 | ||||||
| Total | 87,718 | 6,589 | 105,837 | 200,144 | 288,227 | ||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| Charitable activities |
261,616 | 44,944 | 21,767 | 328,327 | 131,600 | ||
| Other expenditure | 1,150 | 1 | 1,151 | ||||
| Total | 262,766 | 44,944 | 21,768 | 329,478 | 131,600 | ||
| Net gains/(losses) on |
|||||||
| investments | 443,472 | 443,472 | (176,813) | ||||
| NET INCOME/(EXPENDITURE) | (175,048) | (38,355) | 527,541 | 314,138 | (20,186) | ||
| Transfers between |
funds | 12 | 64,691 | 38,131 | (102,822) | ||
| Net movement in funds |
(110,357) | (224) | 424,719 | 314,138 | (20,186) | ||
| RECONCILIATION | OF FUNDS | ||||||
| Totalfunds broughtforward |
371,429 | 1,783,668 | 3,051,131 | 5,206,228 | 5,226,414 | ||
| TOTAL FUNDS CARRIED | |||||||
| FORWARD | 261,072 | 1,783,444 | 3,475,850 | 5,520,366 | 5,206,228 |
| BALANCE SHEET 31AUGUST 2021 |
||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Notes | 7 | |||
| FIXEDASSETS | ||||
| Tangible assets | 1,783,444 | 1,805,742 | ||
| Investments | ||||
| Investments | 3,432,239 | 2,919,846 | ||
| Social investments | ||||
| 5,215,683 | 4,725,588 | |||
| CURRENT ASSETS | ||||
| Debtors | 11,499 | 6,532 | ||
| Cash at bank snd | in hand | 301,948 | 484,661 | |
| 313,447 | 491,193 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
10 | (8,764) | (10,553) | |
| NET CURRENT ASSETS | 304,683 | 480,640 | ||
| TOTAL ASSETS | LESSCURRENT LIABILITIES | 5,520,366 | 5,206,228 | |
| NET ASSETS | 5,520,366 | 5,206,228 | ||
| FUNDS | 12 | |||
| Unrestricted funds |
261,072 | 371,429 | ||
| Resb icted funds | 1,783,444 | 1,783,668 | ||
| Endowment funds |
3,475,850 | 3,051,131 | ||
| TOTAL FUNDS | 5,520,366 | 5,206,228 |
| COMPAR | ATIVES FOR THE ST | ATEMENT O | F FINANCIAL ACTIV | ITIES | ||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||
| funds | funds | fund | funds | |||
| 8 | 8 | E | 5 | |||
| INCOME | AND ENDOWMENTS | FROM | ||||
| Donations | and legacies | 125,324 | 32,467 | 157,791 | ||
| Investment | income | 1,047 | 99,729 | 100,778 | ||
| Other income | 158 | 29,500 | 29,658 | |||
| Total | .126,529 | 32,469 | 129,229 | 288,227 | ||
| EXPENDITURE ON | ||||||
| Charitable | activities | |||||
| Charitable | activities | 65,742 | 44,794 | 21,064 | 131,600 | |
| Net gains/(losses) on investments |
(176,813) | (176,813) | ||||
| NET INCOME I(EXPENDITURE) | 60,787 | (12,325) | (68,648) | (20,186) |
| NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2021 |
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2021 |
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2021 |
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31AUGUST 2021 |
||
|---|---|---|---|---|---|
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |||||
| Unrestricted | Restricted | Endowment | Total | ||
| funds 5 |
funds f |
fund 5 |
fundsf | ||
| Transfers between |
funds | (173,219) | 35,173 | 138,046 | |
| Net movement in funds |
(112,432) | 22,848 | 69,398 | (20,186) | |
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought forward | 483,861 | 1,760,820 | 2,981,733 | 5,226,414 | |
| TOTAL FUNDS CARRIED FORWARD | 371,429 | 1,783,668 | 3,051,131 | 5,206,228 | |
| TANGIBLE FIXEDASSETS | |||||
| Freehold | |||||
| property | |||||
| 5 | |||||
| COST | |||||
| At 1 September 2020 | 2,458,270 | ||||
| Additions | 22,496 | ||||
| At 31August 2021 | 2,480,766 | ||||
| DEPRECIATION | |||||
| At 1 September 2020 | 652,528 | ||||
| Charge for year | 44,794 | ||||
| At 31August 2021 | 697,322 | ||||
| NET BOOK VALUE | |||||
| At 31August 2021 | 1,783,444 | ||||
| At 31August 2020 | 1,805,742 | ||||
| FIXEDASSET INVESTMENTS | |||||
| Listed | |||||
| investments | |||||
| 5 | |||||
| MARKET VALUE | |||||
| At 1 September 2020 | 3,096,659 | ||||
| Additions | 1,556,415 | ||||
| Disposals | (1,487,494) | ||||
| At 31August 2021 | 3,165,580 | ||||
| PROVISIONS | |||||
| At 1 September 2020 | 176,813 | ||||
| Revaluation adjustments |
(443,472) | ||||
| At 31August 2021 | (266,659) | ||||
| NET BOOK VALUE | |||||
| At 31August 2021 | 3,432,239 | ||||
| At 31August 2020 | 2,919,846 |
| Represented | by:- | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| listed investments | 3,432,239 | 2,919,846 | |||||||
| 3,432,239 | 2,919,846 | ||||||||
| 9. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||||||
| 2021 | 2020 | ||||||||
| 6 | 5 | ||||||||
| Other debtors | 11,499 | 6,532 | |||||||
| 10. | CREDITORS: | AMOUNTS | FALLING DUE WITHIN | ONE YEAR | |||||
| 2021 | 2020 | ||||||||
| E | |||||||||
| Other creditors | 8,764 | 10,553 | |||||||
| 11. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | ||||||||
| 2021 | 2020 | ||||||||
| Unrestricted | Restdcted | Endowment | Total | Total | |||||
| funds 8 |
funds | fund | fundsf | funds 5 |
|||||
| Fixed assets | 1,783,444 | 1,783,444 | 1,805,742 | ||||||
| Investments | 3,432,239 | 3,432,239 | 2,919,846 | ||||||
| Current assets | 266,111 | 47,336 | 313,447 | 491,193 | |||||
| Current liabilities |
(5,039) | (3,725) | (8,764) | (10,553) | |||||
| 261,072 | 1,783,444 | 3,475,850 | 5,520,366 | 5,206,228 | |||||
| 12. | MOVEMENT | IN FUNDS | |||||||
| Net | Transfers | ||||||||
| movement | between | At | |||||||
| At 1.9.20 E |
in funds f |
funds 5 |
31.8.21 | ||||||
| Unrestricted | funds | ||||||||
| General fund |
99,534 | (28,243) | 43,572 | 114,863 | |||||
| Inspiration and |
excellence | - designated | 271,895 | (146,805) | 21,119 | 146,209 | |||
| 371,429 | (175,048) | 64,691 | 261,072 | ||||||
| Restricted funds | |||||||||
| Stem Block | (22,074) | 6,439 | 15,635 | ||||||
| Restricted fixed asset |
1,805,742 | (44,794) | 22,496 | 1,783,444 | |||||
| 1,783,668 | (38,355) | 38,131 | 1,783,444 | ||||||
| Endowment | funds | ||||||||
| Permanent endowment |
3,051,131 | 527,541 | (102,822) | 3,475,850 | |||||
| TOTAL FUNDS | 5,206,228 | 314,138 | 5,520,366 |
| Net moveme | nt | in funds, includ |
ed in the abov |
e are as follows: | |||
|---|---|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||||
| resources | expended | lasses | in funds | ||||
| E | F | F | E | ||||
| Unrestricted | funds | ||||||
| General fund |
17,469 | (45,712) | (28,243) | ||||
| Inspiration and |
excellence - designated | 70,249 | (217,054) | (146,805) | |||
| 87,718 | (262,766) | (175,048) | |||||
| Restricted | funds | ||||||
| Stem Block | 6,589 | (150) | 6,439 | ||||
| Restricted fixed | asset | (44,794) | (44,794) | ||||
| 6,589 | (44,944) | (38,355) | |||||
| Endowment | funds | ||||||
| Permanent | endowment | 105,837 | (21,768) | 443,472 | 527,541 | ||
| TOTAL FUNDS | 200,144 | (329,478) | 443,472 | 314,138 | |||
| Comparatives | for movement | in funds | |||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.9.19 | in funds | funds | 31.8.20 | ||||
| E | E | E | E | ||||
| Unrestricted | funds | ||||||
| General fund |
255,124 | (10,220) | (145,370) | 99,534 | |||
| Inspiration and |
excellence - designated | 228,737 | 71,007 | (27,849) | 271,895 | ||
| 483,861 | 60,787 | (173,219) | 371,429 | ||||
| Restricted | funds | ||||||
| Stem Block | (69,574) | 32,470 | 15,030 | (22,074) | |||
| Restricted fixed | asset | 1,830,394 | (44,795) | 20,143 | 1,805,742 | ||
| 1,760,820 | (12,325) | 35,173 | 1,783,668 | ||||
| Endowment | funds | ||||||
| Permanent | endowment | 2,981,733 | (68,648) | 138,046 | 3,051,131 | ||
| TOTAL FUNDS | 5,226,414 | (20,186) | 5,206,228 |
| FOR THE YEAR ENDED 31A | UGUST 2021 | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| 6 | ||||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Donations | 71,943 | 128,272 | ||
| Gift aid | 22,240 | 29,519 | ||
| 94,183 | 157,791 | |||
| Investment income |
||||
| Rents received | 2,494 | 913 | ||
| Investment income |
103,342 | 98,816 | ||
| Deposit account interest | 125 | 1,049 | ||
| 105,961 | 100,778 | |||
| Other income | ||||
| Sale offreehold reversions | 29,500 | |||
| Other income | 158 | |||
| 29,658 | ||||
| Total incoming resources | 200,144 | 288,227 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Insurance | 1,161 | |||
| Sports coaching | 5,314 | 5,314 | ||
| School Enrichment Fund |
10,890 | 8,733 | ||
| Staff Reward Scheme | 15,000 | |||
| Vesey music, chess club, 6th Form | 385 | |||
| Pdizes and exhibitions | 1,740 | 3,514 | ||
| Investment managers |
charges | 21,767 | 21,064 | |
| Clerk's salary | 18,341 | 17,601 | ||
| Retirement and leaving |
gifts | 67 | 39 | |
| Administration | 428 | 769 | ||
| Miscellaneous expenses |
3,115 | 2,094 | ||
| Training | 112 | |||
| Mental health support | 5,000 | |||
| Donations to school | 213,461 | |||
| Freehold property |
44,794 | 44,794 | ||
| 321,078 | 124,419 | |||
| Supportcosts | ||||
| Governance costs |
||||
| Auditors' remuneration |
5,160 | 5,040 | ||
| Legal fees | 3,240 | 2,141 | ||
| 8,400 | 7,181 | |||
| Total resources expended | 329,478 | 131,600 | ||
| Net (expenditure)/income | before gains and | |||
| losses | (129,334) | 156,627 |
| FOR THE YEAR ENDED 31 | AUGUST 2021 | ||
|---|---|---|---|
| 2021f | 2020 E |
||
| Realised recognised | gains and losses | ||
| Realised gains/(losses) | on fixed asset | ||
| investments | 443,472 | (176,813) | |
| Net income/(expenditure) | 314,138 | (20,186) |