2020-08-31-accounts - The Burkitt Scholarship Fund

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	Contents	ofthe Financial Statements
	for the	Year Ended 31August 2020
				Page
Report ofthe	Trustees		1	to	4
Report ofthe	Independent	Auditors	5	to	6
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements			9	to	15
Detailed Statement ofFinancial Activities				16

			f	or the Year E	nded 31August	2020
							2020	2019
				Unrestricted	Restricted	Endowment	Total	Total
				fund	funds	fund	funds	funds
			Notes
INCOME AND
ENDOWMENTS	FROM
Invcstmcnt income					47,090		47,090	59,739
EXPENDITURE	ON
Raising funds						9,766	9,766	9,349
Charitable activities
Provision ofgrants	and
scholarships					35,637		35,637	50,390
Other					4720		4720
Total					40,357	9,766	50,123	59,739
Net gains/(losses) investments	on					~91423	~91423	~8542
NET
INCOME/(KXPKNDITURK)					6,733	(101,189)	(94,456)	(8,542)
Transfers between funds			13		~12 306	12306
Net movement in	funds				(5,573)	(88,883)	(94,456)	(8,542)
RECONCILIATION		OF
FUNDS
Total funds brought forward					(56,377)	1,621,659	1,565,282	1,573,824
TOTAL FUNDS FORWARD	CARRIED				~61 950)	~153 776	1470826	1 565282

					2020	2019
		Unrestricted	Restricted	Endowment	Total	Total
		fund	funds	fund	funds	funds
	Notes
FIXEDASSETS
Investments	10			1,405,224	1,405,224	1,506,412
CURRENT ASSETS
Debtors Cash in hand			~49512	129772	80260	3,031 63 528
			(49,512)	129,772	80,260	66,559
CREDITORS
Amounts falling due within one
year	12		(12,438)	(2,220)	(14,658)	(7,689)
NET CURRENT
ASSETS/(LIABILITIES)			~61950)	127552	65 602	58 870
TOTAL ASSETSLESS
CURRENT LIABILITIES			(61,950)	1,532,776	1,470,826	1,565,282
NET ASSETS			~61 950	1532776	1470 826	1 565282
FUNDS	13
Restricted funds					(61,950)	(56,377)
Endowment funds					1 532776	1 621 659
TOTAL FUNDS					1470 826	1 565282

INVESTMENT INCOME
	2020	2019
Tax credits	(3,031)
Interest receivable - trading	67	75
Dividends	~50 054	~59 664
	~47 090	~59739

All income received during 2020 and 2019was restricte	All income received during 2020 and 2019was restricte	d.
RAISING FUNDS
Other trading	activities
		2020	2019
Support costs		~9766	~9349

GRANTS PAYAB	LE
				2020	2019
Provision ofgrants and scholarships				~35 637	~45 670
The total grants paid	to individuals		during the year was as follows:
				2020	2019
Burkitt Scholarships	to Durham	School		31,437	37,270
Burkitt Scholarships	to Oxford	and	Cambridge	~4200	~8400
				~35 637	~45 670

			Management	Governance
				costs	Totals	2019
Other	resources	expended	2 500	2220	4720	4720

		for the Year E	nded 31August 2	020	020
	COMPARATIVES	FORTHE STATEMENT	OF FINANCIAL	ACTIVITIES - continued
			Unrestricted	Restricted	Endowment	Total
			fund	funds	fund	funds
	Transfers between funds			~13118	13 118
	Net movement in funds			(3,769)	(4,773)	(8,542)
	RECONCILIATION	OFFUNDS
	Total funds brought	forward		(52,608)	1,626,432	1,573,824
	TOTAL FUNDS CARRIED FORWARD		-	~56 377	1 621 659	1 565282
9.	EMPLOYEES AND	DIRECTORS

						2020	2019
	Income tax recoverable						~3031
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE				YEAR
						2020	2019
	Amounts due to related company					12,438	5,469
	Accruals					~2220	~2220
						~14658	~7689
13.	MOVEMENT IN FUNDS
					Net	Transfers
					movement	between	At
				At 1.9.19	in funds	funds	31.8.20
	Restricted funds
	Burkitt Scholarships	to Durham	School	(68,683)	(1,778)		(70,461)
	Burkitt Scholarships Cambridge	to Oxford and		12306	8511	~12306	8511
				(56,377)	6,733	(12,306)	(61,950)
	Endowment funds
	Endowment Fund			1,621,659	(101,189)	12,306	1,532,776
	TOTAL FUNDS			1 565 282	~94 456)	-	1470 826
	Net movement in funds, included		in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
	Restricted funds
	Burkitt Scholarships	to Durham	School	29,659	(31,437)		(1,778)
	Burkitt Scholarships	to Oxford and
	Cambridge			12,711	(4,200)		8,511
	Management costs			~4720	~4720)
				47,090	(40,357)		6,733
	Endowment funds
	Endowment Fund				(9,766)	(91,423)	(101,189)
	TOTAL FUNDS			~47 090	~50 123)	~91 423	~94 456

							Net	Transfers
							movement	between	At
					At 1.9.18		in funds	funds	31.8.19
Restricted	funds
Burkitt Scholarships		to Durham		School		(65,726)	(2,957)		(68,683)
Burkitt Scholarships Cambridge		to Oxford		and		13 118	12306	~13118	12306
						(52,608)	9,349	(13,118)	(56,377)
Endowment	funds
Endowment	Fund				1,626,432		(17,891)	13,118	1,621,659
TOTAL FUNDS					1	573 824	~8542)	-	1 565282
Comparative	net movement		in	funds, included	in the above are		as follows:
					Incoming		Resources	Gains and	Movement
					resources		expended	losses	in funds
Restricted	funds
Burkitt Scholarships		to Durham		School		38,513	(41,470)		(2,957)
Burkitt Scholarships		to Oxford		and
Cambridge						16,506	(4,200)		12,306
Management	costs					~4720	~4720)
						59,739	(50,390)		9,349
Endowment	funds
Endowment	Fund						(9,349)	(8,542)	(17,891)
TOTAL FUNDS						~59 739	~59739)	~8542)	~8542)

		2020	2019
INCOME AND ENDOWMENTS
Investment income
Tax credits		(3,031)
Interest receivable - trading		67	75
Dividends		~50 054	~59 664
		~47090	~59739
Total incoming resources		47,090	59,739
EXPENDITURE
Charitable activities
Grants to individuals		35,637	45,670
Support costs
Management
Administration charge and marketing		2,500	2,500
Investment management	fee	~9766	~9349
		12,266	11,849
Governance costs
Auditors' remuneration		1,800	1,800
Accountancy and legal fees		420	420
		~2220	~2220
Total resources expended		~50 123	~59739
Net (expenditure)/income	before gains and
losses		(3,033)
Gains/losses
Gains/(losses) on fixed asset investments		~91 423	~8542)
Net expenditure		~94456	~8542)