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|||Page|
|---|---|---|
|Information|||
|Report of the Trustees|||
|Auditor's
Report|||
|Statement
of Financial|Activities||
|Balance Sheet||10|
|Cash flow statement|||
|Notes to the Accounts||12|
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|Donations
and legacies|1,546,793|
|---|---|
|Investment
income|745,837|
|Tax recoverable|127,498|
|Interest receivable|58,668|
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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|
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|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|
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||||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|
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|Gains on Revaluation
8 Disp|osal of|Inve|stment
|Assets||||
|---|---|---|---|---|---|---|---|
|||||Bursary|General|||
|||||Endowment|Bursary|||
|||||Fund|Fund|Total|Total|
|||||2021|2021|2021|2020|
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|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|
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|Debtors||2021|2020|
|---|---|---|---|
||||F|
|Legacies||5,000||
|Accrued investment|interest|25,746|20,337|
|Income tax recoverable||23,257|25,480|
|||54,003|45,817|
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|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|
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