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2022-08-31-accounts
|
Page |
| Annual Report ofthe Feoffees |
|
| Independent Auditors’ Report |
16 |
| Statement of Financial Activities |
19 |
| Balance Sheet |
20 |
| Cash Flow Statement |
21 |
| Notes to the Cash Flow Statement |
22 |
| Notes to the Financial Statements |
23 |
21st June 2023
| F |
or the year |
ended 31 Au |
gust 2022 |
|
|
|
|
Notes |
Hospital
Funds |
School
Funds |
Library
Funds |
2022 |
2027 |
|
|
£ |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
|
| Charitable activities: |
|
|
|
|
|
|
| School fees |
2 |
- |
10,067,230 |
- |
10067,230 |
10,006,615 |
| Ancilary activities |
6 |
554 |
700,911 |
30,470 |
731,935 |
563,023 |
| Other trading activities: |
|
|
|
|
|
|
| Activities for generating funds |
3 |
267 |
489,32t |
748 |
490339 |
160,984 |
| Investments: |
|
|
|
|
|
|
| Investment income |
4 |
13.697 |
159.748 |
89,283 |
262,728 |
226,777 |
| Voluntarysources: |
|
|
|
|
|
|
| Bequests and donations |
5 |
27,136 |
1.546.054 |
41,099 |
1,614,291 |
632,521 |
| Grants received |
|
- |
96.289 |
- |
96,289 |
311,202 |
| Total incoming resources |
|
41,656 |
13,059,556 |
161,600 |
13,262,812 |
11,901,122 |
| Expenditure on: |
|
|
|
|
|
|
| Raising funds: |
|
|
|
|
|
|
| Fundra4ing |
|
12,870 |
103.372 |
- |
116,242 |
92,656 |
| Publicity |
|
- |
163.59 |
- |
163,519 |
137,744 |
| Conference, factty hire and trading costs |
|
547 |
408.548 |
- |
409,095 |
146,952 |
| Financing costs |
|
119,808 |
2,803 |
- |
122,611 |
131.621 |
| Investment management costs |
|
2,884 |
31,110 |
15,261 |
49,255 |
62,453 |
|
|
136109 |
709,352 |
15,261 |
860,722 |
571,426 |
| Charitable activities: |
|
|
|
|
|
|
Teaching costs
— academic |
|
- |
2,015,111 |
- |
2,015,111 |
2,076,471 |
Teaching costs
— music |
|
20,000 |
3,993,322 |
- |
4,013,322 |
4,005,417 |
| Welfare |
|
- |
1,648,945 |
- |
1,648,945 |
1,473,716 |
| Premises |
|
1,089,406 |
1,969,398 |
- |
3,058,804 |
3,074,287 |
| Scholarships and bursaries |
|
- |
599,967 |
- |
599,967 |
576,777 |
| Grants, awards and prizes |
|
5,000 |
10,403 |
- |
15,403 |
19,539 |
| Library running costs |
|
|
- |
202,179 |
202,179 |
199,152 |
| Support and Governance costs |
|
53,956 |
87,583 |
1,662 |
143,201 |
103,555 |
|
|
1,168,362 |
10,324,729 |
203,841 |
11,696,932 |
11,528,914 |
| Total resources expended |
9 |
1,304,471 |
11,034,081 |
219,102 |
12,557,654 |
12,100,340 |
| Net incomel(expenditure) |
|
(1,262,815) |
2,025,475 |
(57,502) |
705,158 |
(199,218) |
| Transfer belween funds |
10 |
727,000 |
(727,000) |
- |
- |
- |
| Gains/(losses) on investment |
|
|
|
|
|
|
| assets: |
|
|
|
|
|
|
| Realised |
|
(1,557) |
(67,855) |
(16,066) |
(85,478) |
123,029 |
| Unrealised |
|
(66,639) |
(630,057) |
(142,763) |
(839,459) |
1,617,896 |
| Net movement in funds |
|
(604,011) |
600,563 |
(216,331) |
(219,779) |
1,541,707 |
| Fund ba’ances at 1 September 2021 |
|
32,362.815 |
13,133,028 |
3,187,598 |
48,683,441 |
47,141,734 |
| Fund balances at 31 August 2022 |
|
31,758,804 |
13,733,591 |
2,971,267 |
48,463,662 |
48,683,441 |
|
Note |
2022 |
2021 |
|
|
£ |
£ |
| Fixedassets |
|
|
|
| Heritage assets |
11 |
115,000 |
115,000 |
| Tangible fixed assets |
11 |
33,597,533 |
33.877,047 |
| Investments |
12 |
10,248,974 |
11,223,214 |
|
|
43,961.507 |
45,215,261 |
| Currentassets |
|
|
|
Debtors
-
fees |
|
450,235 |
380,076 |
-
ether debtors and prepayments |
13 |
1,341,631 |
432 483 |
| Cash at bank and in hand |
|
7.540,395 |
7493,307 |
|
|
9,332,261 |
8,305,866 |
| Creditors: amounts falling due within one year |
14 |
(3,202,837 |
Q63 |
| Net currentassets |
|
6,129,424 |
5,252203 |
| Totalassets less currentliabilities |
|
50,090,931 |
50,467,464 |
| Creditors: amounts falling due after more than one year |
15 |
(1,627.2691 |
ItiMP23 |
| Totalnetassets |
16 |
|
48683441 |
| Endowment funds |
17 |
3,294,526 |
3,461,934 |
| Restricted funds |
18 |
34,221,044 |
35,828,477 |
| Unrestricted funds |
19 |
10,948,092 |
|
| Total funds |
|
48 463 662 |
4B.SI44i |
| Hospital funds |
|
31,758,804 |
32,362,815 |
| School funds |
|
13.733,591 |
13,133,028 |
| Library funds |
|
2,971,267 |
3,187,598 |
| Total funds |
16 |
|
|
e financial statementswere approved and authorised for issue by the Feoffees
|
|
on
13 |
T-’.’it
2023 |
|
Cash flow |
|
|
|
statement |
|
|
|
notes |
2022 |
2021 |
|
|
£ |
£ |
| Net cash inflow/(outflow) from operations |
|
|
|
| Net cash provided by/(used by) operatingactivities |
1 |
809,511 |
2,650,665 |
| Cash flows from investing activities |
|
|
|
| Investment income |
|
262728 |
226777 |
| Bank loan and interest payable |
|
(122,611) |
(131,621) |
| Payments to purchase buildings and other fixed assets |
|
(804,553) |
(97,787) |
| Payments to acquire investments, including cash awaiting investment |
|
(2,132,036) |
(1,919,071) |
| Receipts from sales offixed asset investments |
|
2,312,531 |
1,803,137 |
| lncreasel(decrease) in cash held by investment advisors |
|
(131,192) |
165,081 |
| Net cash provided by!(used in) investing activities |
|
(615,133) |
46,516 |
| Cash flow from financing activities |
|
|
|
| Bank loan repayments |
|
(147,290) |
(138,215) |
| Net cash used in financing activities |
|
(147290) |
(138.215) |
| Change in cash and cash equivalents in the repofling period |
|
47,088 |
2,558,966 |
| Cash and cash equivalentat the beginning ofthe period |
|
7,493,307 |
4,934,341 |
| Cash and cash equivalentat the endofthe period |
2 |
L54Q395 |
L4932Q.Z |
|
2022 |
2021 |
|
£ |
£ |
| Net incoming/(outgoing) resources |
705,158 |
(199,218) |
| Depreciation |
1,084,067 |
1,095,617 |
| Investment income |
(262,728) |
(226,777) |
| Bank and loan interest payable |
122,611 |
131,621 |
| Donated investments |
- |
(1,225,141) |
| (increase)/Decrease in debtors |
(979,307) |
1,171,563 |
| Increasef(decrease) in creditors |
139,710 |
1,903,000 |
| Net cash inflow/(outflow) from operating activities |
809,511 |
2,650,665 |
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
| Cash |
at |
bank and in hand |
6,009,555 |
5,963,122 |
| Cash |
on |
deposit |
1,530,840 |
1,530,185 |
|
|
|
7,540,395 |
7,493,307 |
|
|
At I |
|
At31 |
|
|
September |
|
August |
|
|
2021 |
Cashflow |
2022 |
|
|
£ |
£ |
£ |
| Cash |
at bank and in hand |
7,493,307 |
47,088 |
7,540,395 |
| Bank |
loan due in less than one year |
(143,840) |
(9,464) |
(153,304) |
| Rank |
loan due in greater than one year |
(1,784,023) |
156,754 |
(1,627,269) |
|
|
5,565,444 |
194,378 |
5,759,822 |
|
2022 |
2021 |
|
£ |
£ |
| Gross fees receivable |
10067,230 |
10,006,615 |
| Less: total bursaries, grants and allowances |
(599,967) |
(576,777) |
|
9,467,263 |
9429,838 |
| Scholarships and bursaries financed from restricted and |
|
|
| endowment funds |
599967 |
576,777 |
|
10.067.230 |
iQIiafi..6t5 |
| The total educational awards financed from restricted funds |
|
|
| comprise: |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Scholarships and bursaries |
599967 |
576,777 |
| Grants, awards and prizes |
13,233 |
17,592 |
|
613,200 |
594.369 |
| thertrading activities |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Trading income, summer schools and facility hire |
490.339 |
160.984 |
| vestment income |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Income from UK listed investments (gross) |
261939 |
226,534 |
| Interest on funds deposited on bank reserve |
789 |
243 |
| accounts |
|
|
|
262128 |
226.777 |
| ncillary activities |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Charitable activities |
|
|
| Concert income |
15,454 |
2,411 |
| Summer Music School |
63,640 |
- |
| Piano Summer School |
- |
243,441 |
| Sundry income |
100,869 |
35,514 |
| Insurance claims |
551,972 |
281,657 |
|
731.935 |
563,023 |
| xpenditure |
|
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
| Charitable expenditure |
includes: |
|
|
| Depreciation offixed assets |
|
1,084,067 |
1,095,617 |
| Auditors’ remuneration: |
audit services |
23,694 |
19,763 |
| Operating lease costs |
|
27.071 |
25.909 |
| 8. |
Employment costs |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
|
Wages and salaries |
5905,888 |
5,844131 |
|
Social security costs |
526,022 |
499,749 |
|
Pension contributions |
909,152 |
916,761 |
|
|
7341,062 |
7260.641 |
|
2022 |
2021 |
|
No. |
No. |
| £60,001 to £70,000 |
2 |
2 |
| £70,001 to £80,000 |
- |
- |
| £80,001 to £90,000 |
- |
- |
| £90,001 to £100,000 |
2 |
3 |
| £100,001 tofllo,000 |
1 |
- |
| nalysis oftot |
al resources e |
xpended |
|
|
|
|
|
|
Staff |
Other |
Depreciation |
Total |
Total |
|
|
costs |
costs |
|
2022 |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
| Costofgenerating funds |
|
|
|
|
|
|
| Fundraising |
|
97,731 |
18,511 |
- |
116,242 |
92,656 |
| Publicity |
|
123,268 |
40,251 |
- |
163,519 |
137,744 |
| Conference, facility hire and |
|
|
|
|
|
|
| trading costs |
|
100,598 |
308,497 |
- |
409,095 |
146952 |
| Financing costs |
|
- |
122,611 |
- |
122,611 |
131621 |
| Investment management costs |
|
- |
49,255 |
|
49,255 |
62,453 |
|
|
321,597 |
539,125 |
- |
860,722 |
571,426 |
| Charitable activities |
|
|
|
|
|
|
| Teaching costs |
— academic |
1,829,823 |
185,288 |
- |
2,015,111 |
2,076,471 |
| Teaching costs |
- music |
3,529,352 |
483,970 |
- |
4,013,322 |
4,005,417 |
| Welfare |
|
603,326 |
1,045,619 |
- |
1,648,945 |
1,473,716 |
| Premises |
|
847,994 |
1,126,743 |
1,084,067 |
3,058,804 |
3,074,287 |
| Scholarships & |
bursaries |
- |
599,967 |
- |
599,967 |
576,777 |
| Grants, awards |
& prizes |
- |
15,403 |
- |
15,403 |
19,539 |
| Library costs |
|
157,007 |
45,172 |
- |
202,179 |
199,152 |
|
|
6,967,502 |
3,502,162 |
1,084,067 |
11,553,731 |
11,425,359 |
| Governance costs |
|
51,963 |
91,238 |
- |
143,201 |
103,555 |
|
|
7,341,062 |
4,132,525 |
1,084,067 |
12,557,654 |
12,100,340 |
|
Hospital |
School |
Library |
Total |
Total |
|
|
|
|
2022 |
2021 |
| SupportCosts |
£ |
£ |
£ |
£ |
£ |
| Management |
- |
128,104 |
141,722 |
269,826 |
278,377 |
| Administration |
- |
244,939 |
12,675 |
257,614 |
258,151 |
| Recruitment |
- |
24,998 |
- |
24,998 |
21,453 |
| Office costs |
270 |
56,225 |
9,005 |
65,500 |
74,767 |
| IT |
|
103,566 |
- |
103,566 |
69,222 |
| Legal and professional |
53,436 |
70,903 |
- |
124,339 |
231,530 |
| Insurance |
106.369 |
67,620 |
2,955 |
176,944 |
64,372 |
|
160,075 |
696,355 |
166,357 |
1,022,787 |
997,872 |
| Transfers between funds |
|
|
|
|
|
|
UnrestrictedFunds |
|
Restricted |
Endowment |
Total |
|
General |
Designated |
Funds |
Funds |
Funds |
|
£ |
£ |
£ |
£ |
£ |
| Hospital |
|
|
|
|
|
| Rent from School |
627,000 |
- |
- |
- |
627,000 |
| New School Development Fund |
(267,717) |
- |
267,717 |
- |
- |
| Contribution from School for the |
|
|
|
|
|
| Site Development Project |
- |
- |
100,000 |
- |
100,000 |
| Palatine Demolition Project |
(50,000) |
50,000 |
- |
- |
- |
|
309,283 |
50,000 |
367,717 |
- |
727,000 |
| School |
|
|
|
|
|
| Rent paid to Hospital |
(627,000) |
- |
- |
- |
(627,000) |
| Contribution to Hospital for the Site |
|
|
|
|
|
| Development Project |
(100,000) |
- |
- |
- |
(100,000) |
| Transfer for Millgate Project |
590,190 |
(590,190) |
- |
- |
- |
| Piano Purchases |
130,000 |
(130,000) |
- |
- |
- |
|
(6,810) |
(720,190) |
- |
|
(727,000) |
| Library |
|
|
|
|
|
| Transfer for Budget Support Fund |
59,000 |
(59,000) |
- |
- |
- |
| Transfer from Library Patrons Fund |
247 |
- |
(247) |
- |
- |
|
59,247 |
(59,000) |
(247) |
- |
- |
| TOTAL |
361,720 |
(729,190) |
367,470 |
- |
- |
| 11. |
Tangible fixed assets |
|
|
|
|
|
|
|
Heritage |
Freehold |
Furniture, |
|
|
|
|
Assets |
Property |
Fittings, |
|
|
|
|
|
|
Plant & |
Instruments |
Total |
|
|
|
|
Equipment |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
Cost: |
|
|
|
|
|
|
At 1 September 2021 |
115,000 |
44,014,368 |
779.439 |
228,440 |
45137,247 |
|
Additions |
- |
564,360 |
99,993 |
140,200 |
804,553 |
|
At 31 August 2022 |
115,000 |
44,578,728 |
879,432 |
368,640 |
45.941,800 |
|
Depreciation: |
|
|
|
|
|
|
At 1 September 2021 |
- |
10,476,319 |
485,708 |
183,173 |
11,145,200 |
|
Charge forthe year |
- |
956,877 |
108,984 |
18,206 |
1 084,067 |
|
At 31 August 2022 |
- |
11,433.196 |
594,692 |
201,379 |
12,229,267 |
|
Net book value: |
|
|
|
|
|
|
At31 August2022 |
115,000 |
33,145,532 |
284,740 |
167261 |
33,712,533 |
|
At I September 2021 |
115,000 |
33,538,049 |
293,731 |
45,267 |
33992,047 |
| Five year financial summar |
y of Heritage Asset trans |
actions: |
|
|
|
|
2022 |
2021 |
2020 |
2019 |
2018 |
|
F |
£ |
£ |
£ |
£ |
| Additions: |
|
|
|
|
|
| Donations |
|
|
|
|
|
| Total |
|
|
|
|
|
|
Restricted |
Unrestricted |
Endowment |
|
|
Funds |
Funds |
Funds |
Total |
|
£ |
£ |
£ |
£ |
| Balance at 1 September 2021 |
6,124,807 |
1,456,745 |
3,641,662 |
11,223,214 |
| Additions |
974,908 |
790,532 |
366,596 |
2,132,036 |
| Disposals |
(1,182,938) |
(779,652) |
(435,419) |
(2,398,009) |
| Revaluation gains/(losses) |
(537,683) |
(135,348) |
(166,428) |
(839,459) |
| Change in amounts awaiting |
|
|
|
|
| investment |
136,718 |
(43,679) |
38,153 |
131,192 |
| Balance at 31 August 2022 |
5,515,812 |
1,288,598 |
3,444,564 |
10,248,974 |
| Historical cost of listed investments |
4,732,020 |
1,218,360 |
2,627,454 |
8,577,834 |
| Listed on UK stock exchange |
5,332,737 |
1.262,784 |
3,382,786 |
9,978,307 |
| Cash holding |
183,075 |
25,814 |
61,778 |
270,667 |
|
5,515,812 |
1,288,598 |
3,444,564 |
10,248,974 |
|
2022 |
202’! |
|
£ |
£ |
| Other debtors |
153,220 |
287,773 |
| Prepayments |
121,247 |
81,470 |
| Accrued income |
1,067,164 |
63,240 |
|
1,341,631 |
__,t? |
| reditors: amounts falling due within one year |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Bank loans (note 15) |
153,304 |
143,840 |
| Other creditors and accruals |
1,149,533 |
1,009,823 |
| Fees received in advance from DfE |
1,900,000 |
1,900.000 |
|
3,202.837 |
3.053.663 |
| reditors: amounts falling due after more than one year |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Bank loans |
1,627269 |
1,784,023 |
|
1 627.269 |
1 .784,02.a |
|
Fixed |
|
Net current |
Long term |
Total |
|
Assets |
Investments |
assets! |
liabilities |
|
|
|
|
(liabilities) |
|
|
|
£ |
£ |
£ |
£ |
£ |
| Hospital |
|
|
|
|
|
| Unrestricted |
1,673.633 |
3,421 |
675,423 |
- |
2,352,477 |
| Restricted |
30408269 |
374,409 |
(473,078) |
(1,627,269) |
26,662,351 |
| Endowment |
|
722,154 |
1,822 |
- |
723976 |
|
32.081.922 |
1.099.984 |
204.167 |
(1.627.269) |
31.753,804 |
| School |
|
|
|
|
|
| Unrestricted |
1,508,528 |
1,258,367 |
5,438,283 |
- |
8,205,178 |
| Restricted |
7,083 |
5,141,403 |
379,927 |
- |
5,528,413 |
|
1,515,611 |
6,399,770 |
5,818,210 |
- |
13,733,591 |
| Library |
|
|
|
|
|
| Unrestricted |
115,000 |
26,810 |
248,627 |
- |
390,437 |
| Restricted |
- |
- |
10,280 |
- |
10,280 |
| Endowment |
- |
2,722,410 |
(151,860) |
- |
2,570,550 |
|
115,000 |
2,749,220 |
107,047 |
- |
2,971,267 |
| Total |
|
|
|
|
|
| Unrestricted |
3,297,161 |
1,288,598 |
6,362,333 |
- |
10,948,092 |
| Restricted |
30,415,372 |
5,515,812 |
(82,871) |
(1,627,269) |
34,221,044 |
| Endowment |
- |
3,444,564 |
(150,038) |
- |
3,294,526 |
|
33,712,533 |
10,248,974 |
6,129,424 |
(1,627,269) |
43,463,662 |
| Endowmentfunds |
|
|
|
|
|
|
|
Balance at |
|
|
|
Transfers |
Balance at |
|
1 September |
Incoming |
Resources |
Investment |
between |
31 August |
|
2021 |
Resources |
expended |
gains,’flosses) |
funds |
2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Hospital |
|
|
|
|
|
|
| Investment Replacement |
|
|
|
|
|
|
| Sinking Funds |
594,136 |
|
|
(10,468) |
- |
583,668 |
| EF Jacob Endowment |
|
|
|
|
|
|
| Fund |
157.572 |
- |
- |
(17.264) |
- |
140,308 |
|
751,708 |
- |
- |
(27,732) |
- |
723,976 |
| Library |
|
|
|
|
|
|
| Grants from Heritage |
|
|
|
|
|
|
| Lottery Fund |
2,710,226 |
- |
- |
(139,676) |
- |
2,570,550 |
| Total |
3,461,934 |
- |
- |
(166,428) |
- |
3,294,526 |
18.
Restricted funds |
Balance at |
|
|
|
|
|
|
|
|
|
|
Transfers |
|
|
Balance at |
|
September |
Incoming |
Resources |
between |
|
Investments |
31 August |
|
2021 |
resources |
expended |
funds |
|
gainsl(losses) |
2022 |
|
£ |
£ |
£ |
£ |
|
£ |
£ |
| Hospital |
|
|
|
|
|
|
|
Capital Fund
- tlillgate Extension |
935,520 |
|
(39,668) |
|
|
|
895,852 |
Capital Fund
- New Land |
4,500,000 |
|
|
|
|
|
4,500,000 |
Capital Fund
- New School Building |
18193,265 |
|
(512,626) |
|
|
|
I7,580639 |
Capital Fund
— Nicholls Conversion |
597,921 |
|
(18506) |
|
|
|
579,421 |
Capital Fund
— Concert Hall |
7,051704 |
|
(199,326) |
|
|
|
6,852,378 |
| lmoroven’ents Fund |
22,559 |
|
|
|
|
|
22,569 |
| New School Development Fund |
(2,044743) |
27,134 |
(119,808) |
359,692 |
|
|
(1,717,725) |
| Concert Hall Fund |
(205QI 1) |
|
|
8,025 |
|
|
(196.986) |
| Instrument Fund |
230,341 |
10,467 |
(7,097) |
|
|
(40,403) |
193.308 |
| Nicholls Funo |
32.601 |
|
|
|
|
|
32.601 |
| Miscellaneous Fund |
294 |
|
|
|
|
|
294 |
|
29.314,467 |
37,601 |
(997,031) |
367,717 |
|
(40,403) |
28,682,351 |
| School |
|
|
|
|
|
|
|
| Vernon Farley Fund |
14,568 |
- |
(1,781) |
|
|
|
12,887 |
| Hazel Smith Fund |
30,256 |
- |
(16,016) |
|
|
|
14,240 |
| Ida Carroll Fund |
3,231 |
- |
(2,000) |
|
|
|
1,231 |
| Hospital Prize Fund |
81,889 |
- |
(214) |
|
|
|
81,675 |
| Kolbert Music Prize Fund |
2,093 |
- |
(75) |
|
|
|
2,018 |
| Academic Prizes Fund |
320 |
20 |
(20) |
|
|
|
320 |
| Music Prizes Fund |
200 |
100 |
(100) |
|
|
|
200 |
| David Hartigan Memorial Piano Fund |
2,588 |
|
|
|
|
|
2,588 |
| Neil Vir’t Bursary Fund |
34,270 |
- |
(1000) |
|
|
|
33,270 |
| Milne Furd |
273,580 |
|
(2,950) |
|
|
(41,109) |
229,521 |
| Bursary Fund |
2,401,299 |
165,558 |
(246,972) |
|
100 |
(501,434) |
1,818,551 |
| Bateson Family Bursary Fund |
1,064,322 |
24904 |
(170,282) |
|
|
|
918,944 |
| Andrew Lloyd Webber Foundation Bursary Fund |
100 |
|
|
(IOU) |
|
|
|
| Leverhulme Trust Bursary Fund |
|
69,418 |
(67.998) |
|
|
|
1,420 |
| Ogleshy Bursary Fund |
|
33,357 |
(33.090) |
|
|
|
267 |
| 2022 matches Funding Bursary Fund |
|
4,605 |
|
|
|
|
4,605 |
| Tony and Tania Music Prize Fund |
|
10,000 |
|
|
|
|
10,000 |
| Hospitallers Camp Fund |
15,838 |
|
(1775) |
|
|
|
14,063 |
| Mellor Endowment Fund |
5,345 |
|
|
|
|
|
5,345 |
| Amy Watson Endowment Fund |
24,551 |
|
|
|
|
|
24,551 |
| John Shaw Bursary Fund |
3,638 |
|
(2,136) |
|
|
|
1,502 |
| Stoller Bursary Fund |
14,304 |
|
|
|
|
|
14,304 |
| Ethel Keriy Bursary Fund |
1,850,942 |
- |
(78,146) |
|
|
- |
1,772,796 |
| Hardship Fund |
62,136 |
|
(2,749) |
|
|
- |
59,387 |
| Co-op Fund |
1,665 |
|
(1,250) |
|
|
- |
415 |
| Miscellaneous Restricted Fund |
66,326 |
9,910 |
(6,929) |
(10,200) |
|
- |
59,107 |
| Friends of Chethams Fund |
16,416 |
1,112 |
|
|
|
- |
17,528 |
| Chets in London Fund |
3,400 |
|
(879) |
|
|
- |
2,521 |
| Stoller Hall Fund |
29,182 |
8,685 |
|
|
|
- |
37,867 |
| 501h Anniversary Fund |
78,482 |
5 |
(26,331) |
|
|
- |
52,156 |
Capital Fund
- Instruments |
|
|
(3,117) |
10,200 |
|
- |
7,083 |
| Confucius Classroom Fund |
86,878 |
|
(5,902) |
|
|
- |
80,976 |
| Piano Summer School Fund |
131,318 |
|
(22,384) |
|
|
- |
108,934 |
| Grants and Other Income Fund |
195,307 |
81,636 |
(138,802) |
|
|
- |
138,141 |
|
6,494,544 |
409,310 |
(832,898) |
|
|
(542,543) |
5,528,413 |
|
Balance at I |
|
|
Transfers |
|
Balance a! |
|
September |
Incoming |
Resources |
Between |
Investments |
31 August |
| Library |
202I |
resources |
expended |
funds |
gains/(losses) |
2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Paul Getty Fond |
2,972 |
- |
(2,972) |
|
|
|
| Miscellaneous Resiricted Fund |
1,710 |
- |
|
- |
- |
1,710 |
| Library Patrons Fund |
- |
247 |
|
(247) |
- |
- |
| Karl Marx Fund |
800 |
- |
(800) |
|
|
|
| Arts and Heritage Fund |
2,470 |
|
|
|
|
2,470 |
| Booth Charities Fund |
500 |
- |
(600) |
|
|
|
| Hills Archive Fund |
4,763 |
- |
(4,763) |
|
|
|
| HLF Project Fund |
6,151 |
- |
(6,151) |
|
|
|
| Heritage Compass Fund |
|
3,000 |
|
- |
- |
1,250 |
| Conservation Project Fund |
|
5,000 |
(150) |
|
|
4,850 |
|
19,466 |
8247 |
(17:186) |
(247) |
- |
10280 |
| Total |
35,828,477 |
455,158 |
(1,847,15) |
367,470 |
(582,946) |
34,221,044 |
| Unrestricted funds |
|
|
|
|
|
|
|
Balance at I |
|
|
Transfers |
Investment |
Balance at |
|
September |
Incoming |
Resources |
between |
gains/ |
31 August |
|
2021 |
resources |
expended |
funds |
(losses) |
2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Hospital |
|
|
|
|
|
|
| General Fund |
2,625,547 |
4,055 |
(307,440) |
309,283 |
(61) |
2,631,384 |
| Designated funds: |
|
|
|
|
|
|
| Palatine Demolition |
|
|
|
|
|
|
| Fund |
(328,907) |
- |
- |
50,000 |
- |
(278907) |
|
2,296,640 |
4,055 |
(307,440) |
359,283 |
(61) |
2,352,477 |
| School |
|
|
|
|
|
|
| General Fund |
4,646,419 |
12,137,746 |
(10,113,562) |
(6,810) |
(155,369) |
8,508,424 |
| Designated funds: |
|
|
|
|
|
|
| Chiller Unit Fund |
30,000 |
- |
- |
- |
- |
30,000 |
| Miligate Building |
|
|
|
|
|
|
| Refurbishment Fund |
897,320 |
- |
- |
(590,190) |
- |
307,130 |
| Dining Room |
|
|
|
|
|
|
| Refurbishment Fund |
100,000 |
- |
(8,275) |
- |
- |
91,725 |
| Chesters Bequest |
|
|
|
|
|
|
| Fund |
964,745 |
37,500 |
(78,125) |
(130,000) |
- |
794,120 |
| Organ Cash |
|
|
|
|
|
|
| Settlement Fund |
- |
475,000 |
- |
- |
- |
475,000 |
| Music Department & |
|
|
|
|
|
|
| Tour Fund |
- |
- |
(1,221) |
- |
- |
(1,221) |
|
6,638,484 |
12,650,246 |
(10,201,183) |
(727,000) |
(155,369) |
8,205,178 |
| Library |
|
|
|
|
|
|
| General Fund |
393,906 |
153,353 |
(196,916) |
59,247 |
(19,153) |
390,437 |
| Designated funds: |
|
|
|
|
|
|
| Lighting Fund |
5,000 |
|
(5,000) |
- |
- |
- |
| Budget Support Fund |
59,000 |
- |
- |
(59.000) |
- |
- |
|
457,906 |
153,353 |
(201,916) |
247 |
(19,153) |
390,437 |
|
9,393,030 |
12,807,654 |
(10,710,539) |
(367,470) |
(174,553) |
10,948,092 |
| he School has minimum lease payments under non-cancellable |
operating leases as follows: |
operating leases as follows: |
|
Equipment |
|
|
2022 |
2021 |
|
£ |
£ |
| Within one year |
14,132 |
23,045 |
| Between two and five years |
13.846 |
4,902 |
|
27.978 |
27.947 |
| inancial Instruments |
|
|
|
2022 |
2021 |
|
£000 |
£000 |
| Financial assets measured at amortised cost (a) |
9,211 |
8,224 |
| Financial assets measured at fair value (b) |
10,249 |
11,223 |
| Financial liabilities measured at amortised cost (c) |
(4,804) |
(4,832) |
| Net financial assets measured at amortised cost |
14,656 |
14,615 |
|
Notes |
Hospital
Funds |
School
Funds |
Library
Funds |
2027 |
|
|
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Charitable activities: |
|
|
|
|
|
| School fees |
2 |
- |
10,006,615 |
- |
10,006,615 |
| Ancillary activities |
6 |
530 |
553,390 |
9,103 |
563,023 |
| Other trading activities: |
|
|
|
|
|
| Activities for generating funds |
3 |
27,647 |
133,337 |
- |
160,984 |
| Investments: |
|
|
|
|
|
| Investment income |
4 |
13,310 |
133,754 |
79,713 |
226,777 |
| Voluntarysources: |
|
|
|
|
|
| Requests and donations |
5 |
28,375 |
483,179 |
120,967 |
632,521 |
| Grants received |
|
- |
219,685 |
91,517 |
311,202 |
| Total incoming resources |
|
69,862 |
11,529,960 |
301,300 |
11,901,122 |
| Expenditure on: |
|
|
|
|
|
| Raising funds: |
|
|
|
|
|
| Fundraising |
|
12:463 |
80,193 |
- |
92.655 |
| Publicity |
|
- |
137,744 |
- |
137.744 |
| Conference, facility hire and trading costs |
|
11,634 |
135,315 |
- |
146,952 |
| Financing costs |
|
128,802 |
2,819 |
- |
131,621 |
| Investment management costs |
|
3,166 |
43,100 |
16,187 |
62,453 |
|
|
156,065 |
399,174 |
16,187 |
571,426 |
| Charitable activities: |
|
|
|
|
|
Teaching costs
— academic |
|
- |
2,076,471 |
- |
2,076,471 |
Teaching costs
music |
|
- |
4,005,417 |
- |
4,005,417 |
| Welfare |
|
- |
1,473,716 |
- |
1,473,716 |
| Premises |
|
1,070,457 |
2,003,830 |
- |
3,074,287 |
| Scholarships and bursaries |
|
- |
576,777 |
- |
575,777 |
| Grants, awards and prizes |
|
2,500 |
17,039 |
- |
19,539 |
| Library running costs |
|
- |
- |
199,152 |
199,152 |
| Support and Governance costs |
|
15,948 |
86,118 |
1,489 |
103,555 |
|
|
1,088,905 |
10,239,368 |
200,641 |
11,528,914 |
| Total resources expended |
9 |
1,244,970 |
10,638,542 |
216,828 |
12,100,340 |
| Net incomel(expenditure) |
|
(1,175,108) |
891,418 |
84,472 |
(199,218) |
| Transfer between funds |
IC |
727,000 |
(/2/,000) |
- |
- |
| Gainsl(losses) on investment |
|
|
|
|
|
| assets: |
|
|
|
|
|
| Realsed |
|
1.733 |
75,198 |
46,098 |
123,029 |
| Unrealised |
|
187,152 |
1,064,097 |
366,647 |
1,617,896 |
Net movement
ri funds |
|
(259,223) |
1,303,713 |
497,217 |
1,541,707 |
| Fund balances at I September2020 |
|
32,622.038 |
11,829,315 |
2,690,381 |
47,141,734 |
| Fund balances at 31 August 2021 |
|
32,362,815 |
13,133,028 |
3,187,598 |
48,683,441 |