||||Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|4|
|Independent
Examiner's|Report||||
|Statement ofFinancial|Activities||||
|Balance Sheet|||||
|Notes to the Financial Statements||8|to|14|
|Detailed Statement ofFinancial Activities|||15||
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||||||for the Year E|nded 31August|2023|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
||||||Unrestricted|Respected|Endowment|Total|Total|
||||||fund|funds|fund|funds|funds|
|||||Notes||||||
|INCOME AND||||||||||
|ENDOWMENTS||FROM||||||||
|Investment
income||||||50,872||50,872|47,618|
|EXPENDITURE||ON||||||||
|Raising funds|||||||10,312|10,312|10,753|
|Charitable
activities||||||||||
|Provision ofgrants||and||||||||
|scholarships||||||30,884||30,884|29,994|
|Other||||||7,902||7,902|6,220|
|Total||||||38,786|10,312|49,098|46,967|
|Net gains/(losses)|on|||||||||
|investments|||||||(37,506)|(37,506)|(43,729)|
|NET||||||||||
|INCOME/(EXPENDITURE)||||||12,086|(47,818)|(35,732)|(43,078)|
|Transfers between||funds||13||(12,086)|12,086|||
|Net movement
in|funds||||||(35,732)|(35,732)|(43,078)|
|RECONCILIATION|||OF|||||||
|FUNDS||||||||||
|Total funds brought||forward|||||1,664,728|1,664,728|1,707,806|
|TOTAL FUNDS CARRIED||||||||||
|FORWARD|||||||1,628,996|1,628,996|1,664,728|
##
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|Total|Total|
|||||fund|funds|fund|funds|funds|
||||Notes||||||
|FIXED|ASSETS||||||||
|Investments|||10|||1,505,708|1,505,708|1,553,526|
|CURRENT||ASSETS|||||||
|Debtors||||||||7,026|
|Cash in|hand||||33,700|125,788|159,488|108,616|
||||||33,700|125,788|159,488|115,642|
|CREDITORS|||||||||
|Amounts|falling due within one||||||||
|year|||||(33,700)|(2,500)|(36,200)|(4,440)|
|NET CURRENT ASSETS||||||123,288|123,288|111,202|
|TOTAL|ASSETSLESS||||||||
|CURRENT||LIABILITIES||||1,628,996|1,628,996|1,664,728|
|NET ASSETS||||||1,628,996|1,628,996|1,664,728|
|FUNDS|||13||||||
|Endowment||funds|||||1,628,996|1,664,728|
|TOTAL|FUNDS||||||1,628,996|1,664,728|
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||INVESTMENT IN|COME|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||Dividends||||50,872|47,618|
||All income received|during 2023 and 2022 was restricted.|||||
|3.|RAISING FUNDS||||||
||Other trading
activities||||||
||||||2023|2022|
||Support costs||||10,312|10,753|
|4.|CHARITABLE ACTIVITIES COSTS||||||
||||Grant||||
||||funding of|Support|||
||||activities|costs (see|||
||||(See note 5)|note 6)|Totals|2022|
||Provision ofgrants and|scholarships|30,884|7,902|38,786|36,214|
||All expenses incurred|during 2023|and 2022 related to restricted funds.||||
|5.|GRANTS PAYABLE||||||
||||||2023|2022|
||Provision ofgrants and scholarships||||30,884|29,994|
||The total grants paid|to individuals|during the year was as follows;||||
||||||2023|2022|
||Burkitt Scholarships|to Durham School|||26,684|24,394|
||Burkitt Scholarships|to Oxford and|Cambridge||4,200|5,600|
||||||30,884|29,994|
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||||Manageme|Governan|||
|---|---|---|---|---|---|---|
||||nt|cecosts|Totals|2022|
|Other|resources|expended|4,000|3,902|7,902|6,220|
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||||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|---|
||||fund|funds|fund|funds|
|INCOME AND ENDOWMENTS||FROM|||||
|Investment
income||||47,618||47,618|
|EXPENDITURE|ON||||||
|Raising funds|||||10,753|10,753|
|Charitable
activities|||||||
|Provision ofgrants|and scholarships|||29,994||29,994|
|Other||||6,220||6,220|
|Total||||36,214|10,753|46,967|
|Net gains/(losses)|on investments||||(43,729)|(43,729)|
|NET INCOME/(EXPENDITURE)||||11,404|(54,482)|(43,078)|
|Transfers between funds||||(11,404)|11,404||
|Net movement
in|funds||||(43,078)|(43,078)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought
forward|||||1,707,806|1,707,806|
|TOTAL FUNDS|CARRIED FORWARD||||1,664,728|1,664,728|
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|FIXEDASSETINVESTMENTS||||
|---|---|---|---|
||Listed|Unlisted||
||investments|investments|Totals|
|MARKET VALUE||||
|At 1 September 2022|1,482,936|70,590|1,553,526|
|Additions|141,596||141,596|
|Revaluations|(34,330)||(34,330)|
|Disposals|(91,642)|(63,442)|(155,084)|
|At 31 August 2023|1,498,560|7,148|1,505,708|
|NET BOOKVALUE||||
|At 31August 2023|1,498,560|7,148|1,505,708|
|At 31 August 2022|1,482,936|70,590|1,553,526|
|The portfolio is invested at 31August 2023 as follows:||||
|||Valuation||
|Overseas bonds||137,373|9%|
|UK Bonds||68,213|5%|
|UK Equities||366,921|24%|
|Cash awaiting
investment||7,148|0%|
|UK Property investment||31,346|2%|
|Overseas equities||894,707|59%|
||E1,505,708||100%|
|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|||2023|2022|
|Amounts
due from related company|||7,026|
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|CREDITO|RS: AM|OUNTS FALLING DU|E WITHIN ONE|YEAR|||
|---|---|---|---|---|---|---|
||||||2023|2022|
|Amounts
due to related company|||||33,700||
|Accruals|||||2,500|4,440|
||||||36,200|4,440|
|MOVEMENT IN||FUNDS|||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.9.22|in funds|funds|31.8.23|
|Restricted|funds||||||
|Burkitt Scholarships||to Durham School|(3,395)|3,395|||
|Burkitt Scholarships||to Oxford and|||||
|Cambridge|||(8,691)|8,691|||
|Management|costs||12,086||(12,086)||
|||||12,086|(12,086)||
|Endowment|funds||||||
|Endowment|Fund||1,664,728|(47,818)|12,086|1,628,996|
|TOTAL FUNDS|||1,664,728|(35,732)||1,628,996|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Restricted|funds||||||
|Burkitt Scholarships||to Durham School|30,079|(26,684)||3,395|
|Burkitt Scholarships||to Oxford and|||||
|Cambridge|||12,891|(4,200)||8,691|
|Management|costs||7,902|(7,902)|||
||||50,872|(38,786)||12,086|
|Endowment|funds||||||
|Endowment|Fund|||(10,312)|(37,506)|(47,818)|
|TOTAL FUNDS|||50,872|(49,098)|(37,506)|(35,732)|
##
|||||Net|Transfers||
|---|---|---|---|---|---|---|
|||||movement|between|At|
||||At 1.9.21|in funds|funds|31.8.22|
|Restricted|funds||||||
|Burkitt Scholarships||to Durham School|(46,501)|4,585|41,916||
|Burkitt Scholarships||to Oxford and|||||
|Cambridge|||10,240|6,819|(17,059)||
|Management|costs||36,261||(36,261)||
|||||11,404|(11,404)||
|Endowment|funds||||||
|Endowment|Fund||1,707,806|(54,482)|11,404|1,664,728|
|TOTAL FUNDS|||1,707,806|(43,078)||1,664,728|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
|Restricted|funds||||||
|Burkitt Scholarships||to Durham School|28,979|(24,394)||4,585|
|Burkitt Scholarships||to Oxford and|||||
|Cambridge|||12,419|(5,600)||6,819|
|Management|costs||6,220|(6,220)|||
||||47,618|(36,214)||11,404|
|Endowment|funds||||||
|Endowment|Fund|||(10,753)|(43,729)|(54,482)|
|TOTAL FUNDS|||47,618|(46,967)|(43,729)|(43,078)|
##
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|||2023|2022|
|---|---|---|---|
|INCOME AND ENDOWMENTS||||
|Investment
income||||
|Dividends||50,872|47,618|
|Total incoming resources||50,872|47,618|
|EXPENDITURE||||
|Charitable
activities||||
|Grants to individuals||30,884|29,994|
|Support costs||||
|Management||||
|Administration
charge and marketing||4,000|4,000|
|Investment
management|fee|10,312|10,753|
|||14,312|14,753|
|Governance
costs||||
|Auditors'
remuneration||3,902|2,220|
|Total resources expended||49,098|46,967|
|Net income before gains|and losses|1,774|651|
|Gains/losses||||
|Gains/(losses)
on fixed asset investments||(37,506)|(43,729)|
|Net expenditure||(35,732)|(43,078)|