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|||Page|
|---|---|---|
|Information|||
|Report ofthe 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 legames|1,936,661|
|---|---|
|Investment
income|683,756|
|Tax recoverable|142,528|
|Interest receivable|56,005|
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||||||||Bursary|General|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Endowment|Bursary|||
||||||||Fund|Fund|Total|Total|
||||||||2022
f|2022
f|2022f|2021
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|Donations|||||||348,309|765,708|1,114,017|1,372,205|
|Legacies||||||||822,644|822,644|174,588|
|Income tax recoverable|||||||3,325|139,203|142,528|127,498|
|Investment
income|||||||132,513|551,243|683,756|745,837|
|Interest receivable|||||||239|55,766|56,005|58,668|
|Net rent receivable||||||||1,050|1,050|220|
|Total income|||||||484,386|2,335,614|2,820,000|2,479,016|
|Expenditure|||||||||||
|Investment
managers'||fees|||||21,146|140,988|162,134|191,066|
|Charitable
expenditure|||||||||||
|Grants payable|to The||Manchester||Grammar||||||
|School||||||||2,375,628|2,375,628|2,231,000|
|Management
and|Administration||||||||||
|Secretary's
honorarium|||and expenses|||||7,051|7,051|7,073|
|Sundry expenses||||||||2,144|2,190|2,044|
|Professional
fees||||||||5,532|5,532|1,380|
|Governance
costs|||||||||||
|Auditors
remuneration||||||||4,440|4,440|4,510|
|Total expenditure|||||||21,192|2,535,783|2,556,975|2,437,073|
|Net income/(expenditure)|||and net|movement||in|||||
|funds before gams|and|losses on||investments|||463,194|(200,169)|263,025|41,943|
|Net gains/(losses)|on investments|||(note 2)|||(487,760)|(3,050,684)|(3,538,444)|3,222,109|
|Net movement
ln|funds||||||(24,566)|(3,250,853)|(3,275,419)|3,264,052|
|Total funds brought forward|||||||4,275,699|26,766,868|31,042,567|27,778,515|
|Total funds carried forward|||||||4,251,133|23,516,015|27,767,148|31,042,567|
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||||2022|2021|
|---|---|---|---|---|
|Net cash (used)/generated
from operating||activities|(620,954)|(681,621)|
|(note 1 below)|||||
|Cash flow from investing
activities|||||
|Interest and similar income received|||739,761|804,505|
|Proceeds from the sale ofinvestments|||3,260,278|4,512,163|
|Proceeds from the sale ofproperty|||82,009||
|Purchase of investments|||(3,484,923)|(6,023,738)|
|Net change
in cash and cash equivahrnts|||(23,829)|(1,388,691)|
|Cash and cash equivalents
at beginning||ofthe year|1,253,199|2,641,890|
|Cash and cash equivalents
at end ofthe||year|1,229,370|1,253,199|
|Note 1|||||
|Net income/(expenditure)
for the year|||(3,275,419)|3,264,052|
|Adjustments
for non-cash
items:|||||
|Decrease/(increase)
in trade and other debtors|||(142,395)|(8,186)|
|Increase
in trade and other creditors|||80,186|89,127|
|(Gains)/losses
on investment
asset|||3,608,444|(3,222,109)|
|(Gains)/losses
on property
(legacy income)|||(70,000)||
|Gain on sale of property
(legacy income)|||(82,009)||
|Adjustments
for investing
or financing|activities.||||
|Investment
income|||(683,756)|(745,837)|
|Interest income|||(56,005)|(58,668)|
|Net cash generated
from operating|activities||~626,966|~661,621|
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|for|the year ended 31 December 202|the year ended 31 December 202|2|2|||||
|---|---|---|---|---|---|---|---|---|
|2|Gains on Revaluation
&Disposal of||Investment||Assets||||
||||||Bursary|General|||
||||||Endowment|Bursary|||
||||||Fund|Fund|Total|Total|
||||||2022|2022|2022f|2021|
||Realised gains/(losses)
on investment
Unreaksed
gains/(losses)||assets sold||487,760)|406,716
3457400|406,716
~3045100|1,755,708
1,466,401|
||Total net gains/(losses)||||(487,760)|(3,050,684)|(3,538,444)|3,222,109|
||Fixed Assets Investments||||||||
||Quoted
Investments
- General|Bursary|Fund||||||
||Market value at 1 January 2022||||||27,285,536|23,427,430|
||Additions||||||2,660,675|5,335,048|
||Disposals||||||(3,260,016)|(4,454,588)|
||Net realised gains (losses)
Unrealised
gains/(losses)||||||406,716
~3.527.400|1,761,936
1,215,710|
||Market value at 31 December|2022|||||23,565,511|27,285,536|
||Quoted
Investments
- Bursary|Endowment||Fund|||||
||Market value at 1 January 2022||||||3,890,031|3,014,453|
||Additions||||||824,248|688,690|
||Disposals
Net reaksed gains (losses)
Unreaksed
gains/(losses)||||||(262)
~8,
DD|(57,575)
(6,228)
250,691|
||Market value at 31 December|2022|||||4,226,257|3,890,031|
||Investment
Properties||||||180,000|110,000|
||||||||27,971,768|31,285,567|
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|Debtors||2022
f|2021f|
|---|---|---|---|
|Legacies||138,701|5,000|
|Accrued investment|interest|28,569|25,746|
|Income tax recoverable||29,128|23,257|
|||196,398|54,003|
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|4|Creditors:|amounts|amounts||falling due within|one year|||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E|E|
||Accruals||||||||4,789|4,358|
||Grants payable||||||||1,580,000|1,487,000|
||Other creditors||||||||45,599|58,844|
||||||||||1,630,388|1,550,202|
|5|Net Income|for the||year|||||||
||Net income|for|the year is stated a/ter charging||||||2022|2021|
|||||||||||E|
||Auditor's
renumeration||||||||4,440|4,510|
||Increase
in|valuation|||of property||||70,000||
||Proceeds from||the sale of property.||||||82,009||
|6|I/lovement|in|reserves||||Bursary|General|||
||||||||Endowment|Bursary|||
||||||||Fund|Fund|Total|Total|
||||||||2022|2022|2022|2021|
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||Net movement||in funds||||(24,566)|(3,250,853)|(3,275,419)|3,264,052|
||Total funds|brought||forward|||4,275,699|26,766,868|31,042,567|27,778,515|
||Total funds|carried forward|||||4,251,133|23,516,015|27,767,148|31,042,567|
|7|Analysis ofchanges||||In net debt|||At 1/1/2022|Cashflows|At 31/12/2022|
||Cash at bank|||||||799,488|(89,717)|709,771|
||Short term
Total|deposits||||||453,711
1,233,199|65,888
~23.929|519,599
1.229,3 9|
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