2021-12-31-accounts - M.g.s. Trust

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						Bursary	General
						Endowment	Bursary
						Fund	Fund	Total	Total
						2021	2021	2021	2020
							6	6
Donahons						672,957	699,248	1,372,205	1,922,735
Legacies Income tax recoverable						3,138	174,588 124,360	174,588 127,498	64,040 122,751
Investment income						109,742	636,095	745,837	489,603
Interest receivable						9	58,659		16,148
Net rent receivable							220	220
Total income						785,846	1,693,170	2,479,016	2,615,277
Expenditure Investment managers'	fees					18,855	172,211	191,066	104,210
Chantable expenditure
Grants payable to The School		Manchester		Grammar			2,231,000	2,231,000	2,135,831
Management and Administrabon Secretary's honoranum and expenses Sundry expenses Professional fees							7,073 1,998 1,380	7,073 2,044 1,380	9,092 1,346 11,880
Governance costs
Auditors remuneration							4,510	4,510	3,621
Total expenditure						18,901	2,418,172	2,437,073	2,265,980
Net income/(expenditure)		and net	movement		in
funds before gains and losses on			investments			766,945	(725,002)	41,943	349,297
Net gains/(losses) on	investments		(note 2)			244,463	2,977,646	3,222,109	(1,101,923)
Net movement in funds						1,011,408	2,252,644	3,264,052	(752,626)
Total funds brought	forward					3,264,291	24,514,224	27,778,515	28,531,141
Total funds carried forward						4,275,699	26,766,868	31,042,567	27,778,515

as at 31 Decembe	r 2021
		Notes		2021		2020
						6
Fixed assets
Investments				31,285,567		26,551,883
Current assets
Debtors		3	54,003		45,817
Short term deposits			453,711		1,499,328
Cash at bank			799,488		1,142,562
			1,307,202		2,687,707
Current liabilities
Creditors: amounts	falling due
within one year		4	(1,550,202)		(1,461,075)
Net current (liabilities)/assets				(243,000)		1,226,632
Net assets				31,042,567		27,778,515
The Funds ofthe	Charity
Restncted funds
General Bursary Fund				26,766,868		24,514,224
Bursary Endowment	Fund			4,275,699		3,264,291
Total				31,042,567		27,778,515

			2021	2020
			6
Net cash (used)/generated from operating		activities	(681,621)	(110,544)
(note 1 below)
Cash flow from investing activities
Interest and similar income received			804,505	505,751
Proceeds from the sale of investments			4,512,163	24,622,031
Proceeds from the sale of property Purchase of investments			(6,023,738)	(23,395,317)
Net change in cash and cash equivalents			(1,388,691)	1,621,921
Cash and cash equivalents at beginning		ofthe year	2,641,890	1,019,969
Cash and cash equivalents at end ofthe		year	1,253,199	2,641,890
Note 1
Net income/(expenditure) for the year			3,264,052	(752,626)
Adjustments for non-cash items
Decrease/(increase) in trade and other debtors			(8,186)	24,249
Increase in trade and other creditors			89,127	21,661
(Gains)/losses on investment asset			(3,222,109)	1,101,923
Adjustments for investing or financing	activities.
Investment income			(745,837)	(489,603)
Interest income			(58,668)	(16,148)
Net cash generated from operating	activities		~661,624	~116,644

Gains on Revaluation 8 Disp	osal of	Inve	stment	Assets
				Bursary	General
				Endowment	Bursary
				Fund	Fund	Total	Total
				2021	2021	2021	2020
						E	8
Realised gains/(losses) on investment		assets sold		(6,228)	1,761,936	1,755,708	(2,231,742)
Unrealised gains/(losses)				250,691	1,215,710	1,466,401	1,129,819
Total net gains/(losses)				244,463	2,977,646	3,222,109	(1,101,923)
Fixed Assets Investments
Quoted Investments - General	Bursary	Fund
Market value at 1 January 2021						23,427,430	26,417,984
Additions						5,335,048	20,086,877
Disposals						(4,454,588)	(22, 171,031)
Net reaksed gains (losses)						1,761,936	(1,916,002)
Unrealised gains/(losses)						1,215,710	1,009,602
Market value at 31 December	2021					27,285,536	23,427,430
Quoted Investments —Bursary	Endowment		Fund
Market value at 1 January 2021						3,014,453	2,352,536
Additions						688,690	3,308,440
Disposals						(57,575)	(2,451,000)
Net realised gains (losses)						(6,228)	(315,740)
Unrealised gains/(losses)						250,691	120,217
Market value at 31 December	2021					3,890,031	3,014,453
Investment Properties						110,000	110,000
						31,285,567	26,551,883

for	the year ended 3	1 December 2021	1 December 2021
4	Creditors: amounts	falling due within one year				2021f	2020f
	Accruals					4,358	3,761
	Grants payable Other creditors					1,487,000 58,844	1,420,000 37,314
						1,550,202	1,461,075
5	Net income for the	year
	Net income for the year		is stated after charging			2021f	2020f
	Auditor's renumeration					4,510	3,621
						4,510	3,621
6	Movement in reserves			Bursary	General
				Endowment	Bursary
				Fund	Fund	Total	Total
				2021	2021	2021f	2020 f
	Net movement in funds			1,011,408	2,252,644	3,264,052	(752,626)
	Total funds brought	forward		3,264,291	24,514,224	27,778,515	28,531,141
	Total funds carried	forward		4,275,699	26,766,868	31,042,567	27,778,515
7	Analysis ofchanges Cash at bank		in net debt		At 1/1/2021 1,142,562	Cashflows (343,074)	At 31/12/2021 799,488
	Short term deposits Total				1,499,328 2.681,896	(1,045,617) ~1,388,691	453,711 1,283,199