Queen Elizabeth’s Foundation Registered Charity Number 526600
Financial Statements 31[st] December 2021
Queen Elizabeths Foundation Index to Financial Statements 31[st] December 2021
Trustees Annual Report Accountants Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements
Page 1
Independent Accountants Report to the Trustees of Queen Elizabeths Trust for the Year Ended 31[st] December 2021.
The Trustees are of the opinion that the charity is exempt from an Audit and our work has been undertaken so we might compile the Financial Statements we have been engaged to compile and report to the Trustees accordingly. To the fullest extent permitted by law we do not accept or assume responsibility to anyone other than the Trustees, for our work or for this report.
We have not been instructed to carry out an audit of the Financial Statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not express any opinion on the Financial Statements.
Crossleys Accountants 28[th] October 2022
Statement of Financial Activities for the Year ended 31[st] December 2020
Income |
Note |
2021 |
2020 |
|---|---|---|---|
| Brazenose College | 5 |
5 |
|
| Investment Income | 2 |
44858 |
45738 |
| Profit on Sale of | |||
| Investment |
- |
9451 |
|
Expenditure |
44882 |
55213 |
|
| Accountants Fee | 1774 |
1728 |
|
| Grants to Individuals | 36500 |
73757 |
|
| Grants to schools | 700 |
2800 |
|
| General Expenses | 507 |
583 |
|
| Expenditure for the Year |
39481 |
78868 |
|
| Net Income (Expenditure) |
5401 |
(23655) | |
| Total funds brought forward |
846819 |
870474 | |
Total funds carried forward |
852220 |
846819 |
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Queen Elizabeths Foundation
Registered Charity Number 526600
| Balance Sheet as at 31st |
December 2021 | ||
|---|---|---|---|
2021 |
2020 |
||
| Fixed Assets Current Assets |
Note 3 |
841740 |
841740 |
| Short Term Deposits | 60 |
60 |
|
| Bank Current Liabilities |
12290 |
6889 |
|
| Accruals |
1870 |
1870 |
|
Net Current Assets |
10480 |
5079 |
|
Net Assets |
852220 |
846819 |
|
| Capital Funds Permanent Endowment |
108426 |
108426 |
|
| Income Funds Unrestricted Funds |
743794 |
738393 |
|
852220 |
846819 |
Approved by the Trustees and signed on their behalf by………………………………………..Trustee The notes on pages 4 to 6 form part of these accounts.
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Queen Elizabeths Foundation
Notes forming part of the Financial Statements for the Year Ended 31[st] December 2021
Note 1 Accounting Policies. The Financial Statements have been prepared under the historical cost convention and in accordance with the Accounting and Reporting by Charities Statement of Recommended Practice (SORP 2005) and the Charities Act 1993.
Change in basis
There has been no change in basis of Accounting from that adopted in 2020.
Income Resources
Donations, Legacies and similar Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
The Charity becomes entitled to the donation, legacy or similar income and any conditions for receipt are met.
The Trustees are reasonably certain they will receive it and
The Trustees are reasonably certain the value can be reliably measured.
Investment Income
This and associated tax credits if any are included in the accounts when receivable
Liability Recognition
Generally liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.
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Queen
Elizabeths Foundation
Notes forming part of the Financial Statements for the year Ended 31[st] December 2021 (continued)
| Note 2 | ||
|---|---|---|
2021 |
2020 |
|
| Investment Income | ||
| Income from COIF Charities Fund | 35554 |
35460 |
| Income from COIF Charities property | fund 9009 |
10278 |
| Miscellaneous Income |
295 |
- |
Note 3 |
44858 |
45738 |
| Fixed Asset Investment | ||
| 160591 Income Units in COIF | ||
| Charities Property Fund |
200000 |
200000 |
| Income Units in COIF | ||
| Charities Investment Fund |
641740 |
641740 |
| Historical Cost 31stDecember |
841740 |
841740 |
| Market Value 31stDecember |
1295486 |
1158196 |
Note 4 Allotment land at John Lee Fold has been registered with the official Custodian at the land Registry. No value has been attributed to this land at 31[st] December 2021. The Charity also owns a ransom strip of land at Mellalieu Street to which no value has been attributed.
Note 5 The Charity had no employees in the year.
Note 6 Units were sold in the year and donated to 4 colleges to further educate each receiving £25,000.
Page 5
Queen Elizabeths Foundation
Notes forming part of the Financial Statements for the Year Ended 31[st] December 2021.
Note 6
Creditors
There were none owing over one year (2019 none)
Note 7
There were no related party transactions
Note 8
The Trustees make the following declarations:
Change in the year end
Note 9
The Trustees have not changed the year end date nor the length of the Charity’s Financial Year
Designated Funds
Note 10
The Charity does not have any designated funds
Discontinued, continuing and acquired operations
All of the charity’s operations are continuing operations and there were no operations discontinued or acquired during the year.
Subsidiaries
The Charity has no subsidiary companies
Note 11
Valuations
The market value of the Fixed assets has been shown in Note 3 of the Financial Statements, while uncapitalised fixed assets have been covered in Note 5 of the Financial Statements, these uncapitalised assets may have a material value.
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