OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-08-31-accounts

Lord Moynihan
(Chairman) ¹(appomted
December 2021)		 10 * A Mohindru
QC		 (appointed
1 October 2021)
P M Alderman
(resigned
31 August 2022)
Mrs E Ashford		 * N G H Manna
R P Miners¹
* Mrs J M Booth Mre H MOriarty (resigned
31 December 2022)
Prof RJ Carwardine Councillor R G Roden (resigned
5 May 2022)



MrS S ClaytOn
(resigned 31 December 2021)
Prof A Davies
(appointed
6 July 2022)
Councillor S P Garratt
(appointed
5 May 2022)
T Haden-Scott ¹
A LOCk (appointed
16February 2023)
Dr S Honeywill
(appointed
1 october 2021)



*		 Mre R F ROSe (resigned 31 December 2022)
Ml'6 LA Rtlssen
(resigned
31 December 2022)
AW TWietarl-DaViee ¹(resigned
31 December 2021)
N AJWaters
Dr R AWeeks
I A de Weymarn
J A MCLaren
(appointed
16February 2023)		 Mrs R Williams

Fund Fund represents Balance at
31 August
2022
8'000
Schools' Cyclical
Re air Fund		 To provide for scheduled
major cyclical maintenance		 371
Assisted Places
Reserve
Monmouth		 and
School for		 To provide
bursaries
and assisted places		 666
Girls Bursar Fund
Governors'
reserve		 pension To enable the Governors
to maintain
regular
funding
the closed non-teachin
staff
ension scheme.		 for 73
Prospectus
recruitment		 and
reserves		 To provide for cyclical expenditure
on these items		 192
Total Schools desi
nated funds		 1,302
Schools' general funds To maintain
no reserve
in these funds, subject to
ade
uate cash flow for the schools'
normal o erations		 (976)
Pension scheme fund This reflects the trustees'
best estimate ofthe deficit on
the pension scheme at 31 August 2022. An actuarial
valuation
to meet the requirements
of Financial
Reporting
Standard
102(FRS 102)was carried out by the scheme's
actuary,
Quantum
Advisory as at 31 August 2022. This
showed
that a surplus
of6374k compared
to a deficit		 of
2150k at 31 August 2021. In line with the Foundation's
accounting
policy and FRS 102, this surplus
is not
recognized
in the balance sheet.
Total Schools funds 328
Foundation income Net income
is distributed
to the Schools Governors
during
fund the year. The fund is in deficit at year end as funds were
transferred
to the school
in advance for the 2022/2023		 (140)
ear The deficit will be addressed
via a transfer
Non-charitable
funds		 trading Net reserves oftrading
subsidiaries
at year end		 (6)
Total unrestricted
funds		 180

Year ended 31August 2 022
Unrestricted Funds Permanent Total Total
Note Schools
8'000		 Foundation
Income
8'000		 Restricted
Funds
8'000		 endowment
fund
6'000		 2022
6'000		 2021
6'000
Income and endowments from:
Donations
and legacies		 180 180 498
Charitable
activities:
School fees 3 20,311 20,311 18,323
Ancillary
trading
income
Other income
—Educational		 863
61		 863
61		 499
351
Other trading
activities:
Trading
income		 866 866 589
Investments:
Investment
income		 2 98 20 124 131
FRS102 pension
scheme
interest		 2 45 45 44
Other income 443 443 209
22,687 6 200 22,893 20,644
Expenditure
on:
Raising funds:
Loan interest		 298 298 317
Fees in advance
discount		 46 46 65
Trading costs ofsubsidiaries 783 783 803
Charitable
activities:
Schools 23,421 260 181 912 24,774 23,322
FRS 102 pension scheme
interest cost		 47 47 50
4 24,595 260 181 912 25,948 24,557
Net (expenditure)/income
before gains on investments		 (1,908) (254) 19 (912) (3055) (39"3)
Net gains on investments 7 (252) 24 (67) 6,670 6,375 19,096
Net (expenditure)/income (2,160) (230) (48) 5,758 3,320 15,183
Transfers
between funds		 5 1,453 (81) (1,372)
Other recognised
gains:
Actuarial
gains on defined
benefit schemes		 12 86 86 198
Net movement
in funds		 (621) 301 (129) 4,386 3,406 15,381
Reconciliation
of Funds:
Total funds
brought
forward		 941 90 1,175 135,698 137,904 122,523
Total funds carried forward 5 320 (140) 1,046 140,084 141,310 137,904

As at 31August 20 22
Group Foundation
Note 2022 2021 2022 2021
E'000 E'000 6'000 E'000
FIXEDASSETS
Tangible assets
Investments		 6
7		 42,207
106,163		 43,222
102,285		 42,204
106,163		 43,214
102,285
Investment
in subsidiary		 company 16 90 90
Unsecured
loan to William Jones'		 s
Almshouses
Charity		 1 1
Unsecured
loans to connected		 trading
companies 62
148,371 145,508 148,458 145,652
Current assets:
Stocks 199 187 27 26
Debtors 1,557 1,050 1,724 1,151
Investments:
cash on deposit
Cash at bank and
in hand		 2,980
3,841		 4,788
3,808		 2,980
3,679		 4,788
3,623
8,577 9,833 8,410 9,588
Liabilities:
Creditors: amounts
falling due
within one year		 10 (6,276) (5,730) (6,190) (5,623)
Net current assets 2,301 4,103 2,220 3,965
Total assets less current
liabilities		 150,672 149,611 150,678 149,617
Creditors: amounts
falling due
than one year		 after more (9,362) (11,557) (9,362) (11,557)
141,310 138,054 141,316 138,060
Defined benefit pension scheme liability 12 (150) (150)
Total net assets 141,310 137,904 141,316 137,910
The Funds ofthe Charity:
Permanent
endowment
fund		 140,084 135,698 140,084 135,698
Restricted
funds		 1,046 1,175 1,046 1,175
Unrestricted
funds:
Designated
funds
General
funds		 1,302
(1,116)		 1,237
(50)		 1,302
(1,116)		 1,237
(50)
Non-charitable
trading
Pension scheme fund		 funds (6) (6)
(150)		 - (150)
Total Charity Funds 5 141,310 137,904 141,316 137,910

2022 2022 2021 2021
6'000 6'000 6'000 6'000
Net cash used in operating activities (2,415) (2,897)
Cash flows from investing activities:
Investment
income
received		 124 131
Purchase oftangible
fixed assets		 (352) (317)
Proceeds from sale of investments 13 834
Purchase of investments (49) (1,367)
Drawn from Charities
Investment		 Pool (Total Return) 2,531 2,500
Net cash provided
by investing		 activities 2,267 1,781
Cash flows from financing activities:
Repayments
of borrowing		 (1,627) (891)
(1,627) (891)
Change
in cash and cash
reporting
period		 equivalents in the (1,775) (2,007)
Cash and cash equivalents
reporting
period		 at the beginning ofthe 8,596 10,603
Cash and cash equivalents
reporting
period		 at the end ofthe 6,821 8,596

ASH USED IN OPER ATING ACTIVITI ES
2022 2021
E'000 E'000
Net movement
in funds (per		 Statement of Financial Activities) 3,406 15,381
Adjustments
for:
Gains on investments (6,375) (19,096)
Investment
income		 (124) (131)
Depreciation 1,367 1,407
Pension scheme adjustment
(Increase)/decrease
in stocks		 (150)
(12)		 (258)
45
Decrease
in creditors		 and provisions (22) (235)
Decrease
in debtors		 (507)
Decrease
in cash held for investment		 2 (10)
Net cash used
in operating		 activities (2,415) (2,897)

2022 2021
E'000 E'000
Cash at bank 3,841 3,808
Investments 2,980 4,788
Total cash and cash equivalents 6,821 8,596

At 1 At 31
September Cash August
2021 flows 2022
E'000 E'000 E'000
Cash in hand 3,808 33 3,841
Cash
Loans
Loans		 equivalents
falling due within one year
falling due after more than one year		 4,788
(1,628)
(7,901)		 (1,808)
(31)
1,658		 2,980
(1,659)
(6,243)
Total )888) ))48) )),881)

2.
INVESTMENT INCOME
Permanent
Unrestricted Restricted Endowment Total Total
Fund Fund Fund 2022 2021
E'000 8'000 K'000 E'000 E'000
Interest from bank deposits
Income from listed investments		 6
98		 20 6
118		 7
124
104 20 124 131
FRS102 pension scheme interest 45 45 44
149 20 169 175

2022 2021
E'000 E'000
Gross Fees 23502 21 459
Less
Scholarships (448) (469)
Bursaries (1,721) (1,686)
Assisted places (a bursary scheme replacing a former State-funded scheme) (35) (48)
Staff fee remission (987) (934)
20,311 18,323
Numbers of pupils benefiting from:
Scholarships 221 227
Bursaries 287 304
Assisted places 5 48

Other
Staff direct Total Total
costs costs Depreciation 2022 2021
F'000 f'000 8'000 K'000 E'000
Raising funds:
Loan interest		 298 298 317
Fees in advance
discount		 46 46 65
Trading costs of subsidiaries 165 613 783 803
165 957 5 1,127 1,185
Charitable
expenditure:
Teaching costs
School welfare		 10,851
1,384		 2,656
1,185		 424
26		 13,931
2,595		 12,713
2,272
School premises costs
Support costs
Governance
costs		 1,595
1,832
25		 2,844
940
100		 912 5,351
2,772
125		 5,526
2,692
119
FRS102 pension scheme interest costs 47 47 50
15,687 7,772 1,362 24,821 23,372
Total resources expended 15,852 8,729 1,367 25,948 24,557
2022 2021
E'000 f.'000
Charitable
expenditure
Remuneration
ofSchools'		 includes:
auditors		 for audit services 30 30
Remuneration
of Foundation's		 auditors for audit services 14 14
Payment
to the Haberdas		 hers' Company for service charges 15 15
costs include
administratio
costs.		 n
and gr		 ounds
staff, establishment		 costs, professional
fees, t		 ravel and
2022 2021
6'000 5'000
Staff costs comprised:
Wages and salaries
Social security costs
Pension contributions		 12,397
1,224
2,120		 12,152
1,152
2,039
Payment
of Haberdashers'
paymaster
arrangement		 Company staff under 110
15,852 15,453

o remunera tion
or reimbursed		 ex pen ses were pai d to the Trustees or to any ofthe Schools' Go vernors.
2022 2021
'Z'000 E'000
Aggregate employee-benefits of key management personnel 820 916
e
number		 s
ofemployees
in the year were:
2022 2021
No. No.
Teaching
staff
Other staff		 284
268		 265
289
552 554
2022 2021
No. No.

(a) Fund movements Balance
1		 Other
recognised		 Balance
31
September
2021
8'000		 Income
E'000		 Expenditure
F'000		 gains/
(losses)
E'000		 Net
Transfers
E'000		 August
2022
6'000
Designated
funds:
Schools cyclical repairs
Assisted places reserve
Prospectus
reserve
Recruitment
reserve
Pensions
reserve		 371
666
124
42
34		 (399)
(4)
(61)		 399
10
20
100		 371
666
134
58
73
1,237 (464) 529 1,302
General funds—
Foundation:
Schools (140) 21,776 (23,301) (252) 941 (976)
Foundation
Income		 Fund 90 6 (260) 24 (140)
Pension scheme fund (150) 45 (47) 86 66
Total unrestricted funds—
Foundation 1,037 21,827 (24,072) (142) 1,536 186
Non-charitable
trading		 funds (6) 866 (783) (83) (6)
Total unrestricted funds—
Group 1,031 22,693 (24,855) (142) 1,453 180
Restricted funds
Schools scholarship
Pre-Prep
& Nursery
Girls school other
Blake Legacy Fund		 funds
grant		 274
3
43
118		 49
6
65		 (3)
(2)
(116)		 (81) 239
3
47
67
Extraordinary
repair
Stephenson
awards		 fund 721
16		 20 (67) 674
16
Walker Memorial
Fund		 60 (60)
Total restricted
funds		 1,175 200 (181) (67) (81) 1,046
Permanent
endowment
fund 135,698 - (912) 6,670 (1,372) 140,084
Total Funds 137,904 22,893 (25,948) 6,461 141,310

(b) Transfers
between funds		 Non-
charitable		 Charitable Permanent
trading unrestricted Designated Restricted endowment
funds funds funds funds fund
000 g'000 9'000 6'000 6'000
Transfer from unapplied
Total Return 2,000 (2,000)
Funding
from schools for
new buildings		 (628) 628
Additions
to cyclical
maintenance
reserves		 (399) 399
Recruitment
reserve		 (20) 20
Prospectus
reserve		 (10) 10
Scholarship
awards		 81 (81)
Addition
to governors'
general reserve (100) 100
Trading companies
payment
under
gift aid		 (83) 83
(83) 841 529 (81) (1,372)

TANGIBLE FIXEDAS SETS
Foundation
and
Group		 Freehold
land and
buildings
E'000		 Equipment
and
furnishings
E'000		 Motor
vehicles
E'000		 Charity
total
E'000		 Subsidiary
companies
equipment
E'000		 Group
Total
E'000
Cost
1 September 2021
Additions		 57,317 4,747
330		 299
22		 62,363
352		 128 62,491
352
Dieposals (30) (30) (12) (42)
31 August
2022		 57,317 5,047 321 62,685 116 62,801
Depreciation
1 September 2021
Charge for year
Disposals		 16,198
912		 2,673
436
(30)		 278
14		 19,149
1,362
(30)		 120
5
(12)		 19,269
1,367
(42)
31August 2022 17,110 3,079 292 20,481 113 20,594
Net book value
31 August 2022 40,207 1,968 29 42,204 3 42,207
31 August 2021 41,119 2,074 21 43,214 8 43,222

7. INVESTMENTS
Foundation
and Group		 2022
F'000		 2021
6'000
(a)
(b)
(c)		 Listed investments
Haberdashers'
Charities
Investment
cash		 Investment Pool (Total Return) 3,375
102,665
123		 3,658
98,526
101
106,163 102,285
(a) Listed investments
Foundation
and Group		 Extraordinary
repair		 Governors
Investment
fund fund Total
F'000 6'000 6'000
Market value at 1 September 2021 757 2,901 3,658
Acquisitions
at cost
Reinvestment		 2
20		 27 2
47
Disposals
Net loss on revaluation		 (67) (13)
(252)		 (13)
(319)
Market value at 31 August 2022 712 2,663 3,375
(b) Investment
in Haberdashers'		 Charities Investment Pool (Total Return)
Foundation
and Group		 2022
6'000		 2021
6'000
Market value at 1 September
Withdrawals		 2021 98,526
(2,531)		 82,247
(2,500)
Net gain on revaluation 6,670 18,779
Market value at 31August 2022 102,665 98,526

endowment
fund.
N		 o ne w endowme nt
gifts h		 ave been received since the bas e date.
Trust Unapplied
for Total Total Total
investment Return 2022 2021
6'000 6'000 f'000 f.'000
Trust for investment at 1 September 2021 6,314 93,044 99,358 83,279
Investment
returns:
Realised and unrealised investment gains 6,670 6,670 18,779
Transfer to trust for application (2,000) (2,000) (2,700)
Trust for investment at 31August 2022 6,314 97,714 104,028 99,358
DEBTORS AND PREPAYMENTS
Group Foundation
2022 2021 2022 2021
6'000 F'000 f'000 f'000
Prepayments
Other debtors		 436
585		 242
244		 436
474		 242
205
School fees 535 564 535 564
Due from subsidiary companies 279 140
1,557 1,050 1,724 1,151

Group Foundation
2022 2021 2022 2021
f'000 f.'000 f'000 f.'000
Bank loans 1,659 1,628 1,659 1,628
School fees in advance and confirmation deposits 3,096 2,678 3,096 2,678
Taxation
and social security
Other creditors		 293
1,033		 276
873		 293
947		 276
766
Accruals
and deferred		 income 195 275 195 275
6,276 5,730 6,191 5,623

2, this surplus
is not recognized
in the ba		 lance sheet.
Movement
In defldt during the year		 Year ended year ended
31Augirsl 1033 31August 3011
6'000 6'000
(Deficit) In scheme at beg nning ofyear as previously reported (130) (408)
Movement
In year:
1'mployer's
contnbvtions		 66 66
Pension expense
ActusnaI (loss)/ga In		 (1)
460		 (6)
198
1 rplm/(Def let) in schema at end ofyear 374 160
Surplus
on the scheme not account of for		 (374)
Net degned
benefit
gabgiiy m recogrf sad in the Balance Sheet		 110
There ls no service cost became the l«heme isfully paid-up, l.e, no funher benefits are being accrued.
Assumptions Assumptions As at
31 August		 2022 As at
31 August 2021
Discount rate 4.2% 1.5%
Inflation 4.0% 3.7%
Increases
(statutory		 to deferred
revaluation)		 pensions
before retirement		 3.4% 3.0%

As at As at
Life expectancy from age 65 years 31 August 2022 31August 2021
Retiring today Male
Female		 22.2
24.6		 22.3
24.3
Retiring in 20 years Male
Female		 23.6
26.3		 24.1
26.1

2022 2021
The amounts
recognised
in the statement		 offinancial position 6'000 f.'000
Present value offunded
obligations		 2,169 3,191
Fair value of plan funds (2,543) (3,041)
Net defined
benefit (asset)
/ liability		 (374) 150
Surplus
on the scheme
not accounted
for		 374
Net defined
benefit (asset)
/ liability as		 recognised in the Balance Sheet 150
2022 2021
The amounts
recognised
in the income		 statement 6'000 6'000
Net interest cost
Total pension expense
2022 2021
The amounts
in the statement
of other		 recognised gains and losses K'000 6'000
Actuarial
(loss) / gain on plan assets
Actuarial
gain
/ (loss) on defined
benefit obligation		 (436)
896		 295
(97)
Surplus
on the scheme not accounted		 for (374)
Total gain in statement
ofother recognised		 gains and losses 86 198
2022 2021
Changes
in the present value ofthe defined benefit		 obligation E'000 K'000
Liabilities at the start of the period 3,191 3,210
Interest cost 47 50
Actuarial
(gain) / loss
Benefits paid		 (896)
(173)		 97
(166)
Liabilities at the end ofthe period 2,169 3,191
2022 2021
Changes
in the fair value of plan assets		 6'000 K'000
Fair value of plan assets at the start
Interest income		 ofthe period 3,041
45		 2,802
44
Actuarial
(loss) / gain
Contributions
by the employer
Benefits paid		 (436)
66
(173)		 295
66
(166)
Fair value of plan assets at the end ofthe period 2,543 3,041

2022 2021
Analysis
of return on plan assets		 E'000 6'000
Interest income 45 44
Actuarial
(loss) I gain on plan assets		 (436) 295
Return on plan assets (391) 339
Major categories of plan assets as a percentage oftotal assets
Proportion Value of Proportion Value of
of portfolio assets of portfolio assets
31August 31August 31August 31 August
2022 2022 2021 202'I
0/ 8'000 0/ 8'000
Equity
Annuities		 45.2
17.9		 1,150
456		 59.0
21.8		 1,794
662
Bonds 9.9 251 10.4 316
Alternative 17.7 449 3.5 105
Property
Cash		 4.6
4.7		 117
120		 5.3 164
Total market value of assets 100.0 2,543 100.0 3,041
13. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS
Permanent
Unrestricted Restricted Endowment Total
Funds Funds Funds Funds
I'000 k'000 E000 E'000
Tangible fixed assets 2,000 40,207 42,207
Fixed asset investments 2,785 713 102,665 106,163
Loan to William Jones's Almshouse
Charity 1 1
Net current assets 1,795 333 173 2,301
Creditors due after more than one year (5,869) (3,493) (9,362)
Defined benefit pension scheme
711 1,046 139,553 141,310

A summary
oftrading
resul		 ts and balance sheets for the trading
sub		 sidiaries
is		 shown
below;
MSEL HMSGEL Bus Company
2022 2022 2021 2022 2021
6'000 6'000 E'000 6'000 K'000
Turnover 866 258 121 211
Cost ofsales (492) (176) (73) — (446)
Administration
expenses		 (291) (78) (28) - (2)
Operating
profit/(loss)		 83 20 (237)
Subsidy from schools 237
Interest receivable
Transfer to the
Foundation
(Deed of		 (83) (28)
Covenant)
Retained
profit/(loss)
for the year 4 (8)
Share capital issued 90 90
Reserves
b/f		 (6) (10) 8
Reserves c/f 84 84
Fixed assets 2 8
Current assets 447 379
Creditors
falling due
within one year (365) (303) 58 (2)
Unsecured
loan		 (62)
Net assets 84 84

YEAR ENDED 31AU G UST 2021
Unrestricted Funds Permanent Total
Foundation Restricted Endowment
Schools
8'000		 Income
8'000		 Funds
8'000		 fund
8'000		 2021
E'000
Income and endowments from:
Donations 498 498
Charitable
activities:
School fees 18,323 18,323
Ancilliary
trading
income		 499 499
Other income —coronavirus
retention
scheme		 job 351 351
Other trading
activities:
Trading
income		 589 589
Investments:
Investment
income		 104 21 131
FRS102 pension scheme
Other income		 interest 44
209		 44
209
20,119 6 519 20,644
Expenditure
on:
Raising funds:
Loan interest		 317 317
Fees in advance discount 65 65
Trading costs ofsubsidiaries 803 803
Charitable
expenditure:
Schools		 21,900 248 266 908 23,322
FRS 102 pension scheme
cost		 interest 50 50
23,135 248 266 908 24,557
Net (expenditure)/income
gains on investments		 before (3,016) (242) 253 (908) (3,913)
Net gains on investments 235 8 74 18,779 19,096
Net (expenditure)/income (2,781) (234) 327 17,871 15,183
Transfers
between
funds		 1,814 200 (150) (1,864)
Other recognised
gains:
Actuarial
gains on defined
schemes		 benefit 198 198
Net movement
in funds		 (769) (34) 177 16,007 15,381
Reconciliation
of Funds:
Total funds
brought
forward		 1,710 124 998 119,691 122,523
Total funds carried forward 941 90 1,175 135,698 137,904

FOR THE YE AR ENDED 31AUG UST 2021
Unrestricted
Fund
6'000		 Restricted
Fund
6'000		 Permanent
Endowment
Fund
6'000		 Total
2021
6'000
Interest from bank deposits
income from listed investments
Distributions
from Haberdashers'
Charities
Investment
Pool (Total Return)		 7
103		 7
124
FRS102 pension scheme interest 110
44		 21 131
44
154 21 175

Raising funds: Staffcosts
6'000		 Other direct
costs
f'000		 Depreciation
E'000		 Total
2021
6'000
Loan interest
Fees in advance discount
Trading costs ofsubsidiaries		 57 317
65
737		 9 317
65
803
Charitable
expenditure:		 57 1,119 9 1,185
Teaching costs
School welfare
School premises costs
Support costs
Governance
costs
FRS102 pension scheme interest costs		 10,573
1,387
1,538
1,874
24		 1,678
857
3,080
818
95
50		 462
28
908		 12,713
2,272
5,526
2,692
119
50
15,396 6,578 1,398 23,372
Total resources expended 15,453 7,697 1,407 24,557

(a) Fund movements Balance
1		 Other
recognised		 Balance
31
September gains/ Net August
2020
5'000		 Income
8'000		 Expenditure
6'000		 (losses)
E'000		 Transfers
K'000		 2021
6'000
Designated
funds:
Schools cyclical repairs		 371 (630) 630 371
Assisted places reserve
Prospectus
reserve
Recruitment
reserve		 666
114
22		 10
20		 666
124
42
Pensions
reserve		 (55) 25 34
1,237 (685) 685 1,237
General funds—
Foundation:
Schools
Foundation
Income		 Fund 882
124		 19,486
6		 (21,597)
(248)		 235
8		 854
200		 (140)
90
Pension scheme
fund		 (408) 44 (50) 198 66 (150)
598 19,536 (21,895) 441 1,120 (200)
Total unrestricted funds—
Foundation 1,835 19,536 (22,580) 441 1,805 1,037
Non-charitable
trading		 funds (1) 589 (803) 209 (6)
Total unrestricted funds—
Group 1,834 20,125 (23,383) 441 2,014 1,031
Restricted funds
Schools scholarship fund 319 32 (27) (50) 274
Pre-Prep
& Nursery		 grant 3 3
Pre-Prep
& Nursery
Girls school other		 bursary 33 7
10		 (7) 43
Boys Pavilion
Fund
Boys Wellness
Fund		 320
100		 (202) (100) 118
Covid Support
Fund
Extraordinary
repair
Stephenson
awards		 fund 627
16		 30
20		 (30) 74 721
16
Total restricted funds 998 519 (266) 74 (150) 1,175
Permanent
endowment
fund 119,691 (908) 18,779 (1,864) 135,698
Total Funds 122,523 20,644 (24,557) 19,294 137,904

(b) Transfers between funds funds Non-
charitable		 Charitable Permanent
trading unrestricted Designated Restricted endowment
funds funds funds funds fund
f'000 8'000 8'000 8'000 8'000
Transfer from unapplied Total
Return 2,700 (2,700)
Funding
from schools for
buildings		 new (836) 836
Additions to cyclical
maintenance
reserves-		 (630) 630
Recruitment
reserve		 (20) 20
Wellness reserve 100 (100)
Prospectus
reserve		 (10) 10
Scholarship
awards		 50 (50)
Provision for assisted places (47) 47
Assisted places provision used 47 (47)
Addition to governors' pension
reserve (25) 25
Bus company
supplement		 237 (237)
Trading companies payment
under
gift aid		 (28) 28
209 1,120 685 (150) (1,864)

No new en dowment gifts have been received since t he base date.
Trust Unapplied
for Total Total
investment Return 2021
8'000 K'000 8'000
Trust for investment at 1 September 2020 6,314 76,965 83,279
Investment returns:
Realised and unrealised investment gains 18,779 18,779
Transfer to trust for application (2,700) (2,700)
Trust for investment at 31August 2021 6,314 93,044 99,358

Permanent
Unrestricted Restricted Endowment Total
Funds Funds Funds Funds
8'000 0000 K'000 E'000
Tangible
fixed assets
Fixed asset investments		 2,103
3,000		 759 41,119
98,526		 43,222
102,285
Loan to William Jones's Almshouse
Charity
Net current assets/(liabilities)		 3,484 416 1
203		 1
4,103
Creditors
Defined		 due after more than one year
benefit pension scheme		 (7,406)
(150)		 (4,151) (11,557)
(150)
1,031 1,175 135,698 137,904