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|Trustees'
annual report||||
|---|---|---|---|
|Reference and administrative|details|||
|Structure,
governance g management||||
|Objectives and activities||||
|Achievements
and performance||and plans for future periods||
|Public benefit||||
|Financial
review||||
|Trustees'
responsibilities||||
|independent
Auditors'
report||||
|Statement offinancial
activities||||
|Balance sheet|||12|
|Statement ofcash flows|||13|
|Notes tothe financial statements|||14|
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|Academic|Year|1eYear|2""Year|3"Year|4ohg
5th
Year|Total
Nos|Grant Awarded
for H.E.|
|---|---|---|---|---|---|---|---|
|20D4-05||26|12|13|10|61|f61,771|
|2005-06||22|27|9|8|66|E55,623|
|2006-07||15|13|15|7|50|f43,364|
|2007-08||24|15|15|16|70|f77i999|
|2008-09||15|17|7|13|52|f70,545|
|20D9-10||13|18|9|13|53|E67,616|
|2010-11||23|8|13|13|57|f65,733|
|2011-12||18|20|12|7|57|E53,122|
|2012-13||13|15|17|7|52|f54,540|
|2013-14||15|10|8|6|39|f37,393|
|2014-15||15|6|6|9|36|E31,116|
|2015-16||14|12|7|6|39|f33,147|
|2016-17||8|13|8|8|37|E35,230|
|2017-1$||10|9|15|13|47|f42,937|
|2018-19||13|4|8|7|32|E49,682|
|2019-20||9|9|6|7|31|E29,353|
|2020-21||11|11|8|8|39|f33,459|
|Table 8|Table 8|||||||
|---|---|---|---|---|---|---|---|
|Cate|ries of||ant awards and com|arisen with|2019-20|||
|||||2020-21||2019-20||
|Category||||Grant for|As %age of|Grant for|As %age of|
|||||Category|total grant|Category|total grant|
|Primary|-|Individuals||E2,631|1.01%|E9,105|3.21%o|
|Secondary||and Further||f13,019|5.02%|f34,500|12.19%o|
|Education||—Individuals||||||
|Higher|Education|||f33,459|12.92%|f44,247|15.63%o|
|Schools|||f205,047||79.21%|E177,351|62.68%|
|Special|go|other||E4,696|1.81%|E17,713|6.27%|
|TOTAL|||E25$,852||100.00%i|E282,916|100.00%|
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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds|
||||Note|2021|2021|2021|2020|
|||||6|E|E|E|
|INCOME||||||||
|Investment
income||||387,390||387,390|416,991|
|Total income||||387,390||387,390|416,991|
|EXPENDITURE||||||||
|Costs of raising funds||||||||
|Investment
management|costs|||9,421||9,421|9,798|
|Investment
property costs||||103,624||103,624|98,521|
|Expenditure
on charitable||activities||||||
|Education||||258,852||258,852|285,645|
|Governance
costs||||9,744||9,744|14,926|
|Total expenditure||||381,641||381,641|408,390|
|Net income (expenditure)||and net||||||
|movement
in funds before||gains and|losses|||||
|on investments||||5,749||5,749|8,101|
|Gains (losses) on revaluation||and||||||
|disposal ofinvestments||||467,447||467,447|(277,493)|
|Net movement
in funds||||473,196||473,196|(269,392)|
|Fund balance at 1April 2020||||8,825,415|500|8,825,915|9,095,307|
|Fund balance at 31March|2021|||9,298,611|500|9,299,111|8,825,915|
##
||||Note|2021|2020|
|---|---|---|---|---|---|
|||||f|f|
|Fixed assets||||||
|Investment|properties|||6,518,750|6,518,750|
|Investments||||2,552,020|2,101,404|
|||||9,070,770|8,620,154|
|Current assets||||||
|Debtors|||10|25,254|8,963|
|Cash at bank|and in|hand||238,618|234,220|
|||||263,872|243,183|
|Creditors: amounts||falling||||
|due within one year||||(35,531)|(37,422)|
|Net current|assets|||228,341|205,761|
|Net assets|||12|9,299,111|8,825,915|
|FUNOS||||||
|Restricted funds|||13|500|500|
|Unrestricted|funds||14|||
|General funds||||9,298,611|8,825,415|
|Totalfunds||||9,299,111|8,825,915|
##
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||||2021|2020|
|---|---|---|---|---|
|||||6|
|Net cash generated
from|operating|activities|(12,433)|8,280|
|Cash flow from investing|activities||||
|Purchase of investments|||(323,752)|(35,633)|
|Disposals of irivestments|||340,583|36,565|
|Net cash flow from investing
activities|||16,831|932|
|Change
in cash and cash|equivalents|in the year|4,398|10,212|
|Cash and cash equivalents|brought|forward|234,220|224,008|
|Cash and cash equivalents|carried forward||238,618|234,220|
|Cash and cash equivalents|consists|of:|||
|Cash at bank and in hand|||238,618|234,220|
|Net cash generated
from|operating|activities|||
|Net movement
in funds before gains||and|||
|losses on investments|||5,749|8,101|
|Depreciation|||||
|increase
in debtors|||(16,291)|(1,658)|
|(Decrease)increase
in creditors|||(1,891)|2,837|
||||(12,433)|9,280|
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|3|Investment|income||2021|2020|
|---|---|---|---|---|---|
|||||E|f|
||Income from UK property|||||
||Rents receivable|||335,095|341,795|
||Income from UK investments|||||
||Interest and|dividends||51,371|74,561|
||Bank interest|receivable||924|635|
|||||52,295|75,196|
||Total investment
income|||387,390|416,991|
|4|Staff costs|||2021|2020|
|||||E|f|
||Salaries and|wages||31,609|32,787|
||Social security costs|||||
|||||31,609|32,787|
||The average|number of part time employees|during the year was|Number|Number|
||Administration|support staff||||
||Cleaner|||||
##
|Grants payable||2021|2020|
|---|---|---|---|
|||E|f|
|Grants awarded|to voluntary
schools and organisations|||
|Ambleside|Primary School|96,616|77,013|
|Grasmere|Primary School|53,760|M,BOO|
|Iangdale|Primary School|54,671|41,457|
|South Lakes Orchard
Group|||81|
|||205,047|177,351|
|Grants awarded|to individuals|53,805|105,565|
|||258,852|282,916|
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|Investment|properties||||||||Fixtures,||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Freehold|land||fittings and||
|||||||and buildings|||equipment|Total|
|||||||||6|6|6|
|Cost / Valuation|||||||||||
|At 1April 2020||||||6,518,750|||70,319|6,589,069|
|Additions|||||||||||
|Revaluation|||||||||||
|At 31March|2021|||||6,518,750|||70,319|6,589,069|
|At cost|||||||||70,319|70,319|
|At valuation||||||6,518,750||||6,518,750|
|||||||6,518,750|||70,319|6,589,069|
|Depreciation|||||||||||
|At 1April 2020|||||||||70,319|70,319|
|Disposals|||||||||||
|Charge forthe year|||||||||||
|At 31March|2021||||||||70,319|70,319|
|Net book value
r|||||||||||
|At 31March|2021|||||6,518,750||||6,518,750|
|At 31March|2020|||||6,518,750||||6,518,750|
|The freehold|land and buildings|belonging||to the Foundation||were revalued||at an open market||value for existing|
|use basis on|1June 2017by Carter Jonas,|||Chartered|Surveyors.|The trustees||consider the fair value of properties at|||
|31March 2020 remains a reasonable|||value|as at 31March 2021.|||||||
|Fixed Asset|Investments||||||||2021|2020|
|Fairvalue:|||||||||6|E|
|At 1April 2020|||||||||2,101,404|2,379,829|
|Additions at|cost||||||||323,752|35,633|
|Disposa
I proceeds|||||||||(340,583)|(36,565)|
|Increase (decrease) in fair value|||||||||467,447|(277,493)|
|At 31March|2021||||||||2,552,020|2,101,404|
##
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|Fixed Asset Investments
(continued)|Fixed Asset Investments
(continued)||Market||Market|
|---|---|---|---|---|---|
|||Cost|Value|Cost|Value|
|||2021|2021|2020|2D20|
|||f|6|f|f|
|Direct Property &Property
Funds||||||
|Mayfair Capital
ln Prop Inc Trust||76,016|77,991|95,020|103,369|
|Fixed Interest &fixed Interest funds||||||
|Rathbone
UT MGT Ethical Bond||44,283|44,127|21,028|19,641|
|UK Govc 2.5%2020||||18,514|18,383|
|UK Govt. 8%Treasury 2021||24,635|17,826|24,635|19,166|
|Retail &Charity Bon4.375%SNR 29/07/23||21,356|20,789|21,356|19,782|
|Places for People 4.25%||24,425|25,678|24,425|22,202|
|Retail Chanty
BON 5% NTS 12/04/26||8,125|9,273|8,125|8,168|
|Retail Charity
Bon 4.25%5NR 06/07/2028||14,625|25,581|14,625|14,143|
|Retail Charity
BON 4.4% BDS30/04/25||24,307|28,240|24,307|22,941|
|Retail Charity
BUN 4%5NR SEC 31/10/2027||26,725|23,066|26,725|24,075|
|Retail Charity
BON 4.25%SNR 2028||22,725|25,424|22,725|19,644|
|Retail Charity
Bon4.25%5NR 20/06/2028||24,625|15,543|24,625|22,325|
|||235,831|235,547|231,090|210,470|
|Global Equities &Equity Funds (ex UK)||||||
|Castlefield
FS PTN B.E.S.TSUST EURP||63,396|77,485|51,356|46,405|
|Powershares
Global FTSE RAFI US 1000||||66,405|84,026|
|Ishares MSCI Japan USD DIS NAV||||31,791|34,464|
|Ishares MSCI AC FEX-JP UCITS ETF U||||3,776|3,391|
|DBX-Trackers MSCI AC Asia ExJapan||||25,923|37,173|
|DBX —Trackers MSCI EMG MKT TRN||||6,076|7,523|
|Merian Invest MGMT Merian
NA EQTY R||||37,668|36,545|
|||63,396|77/85|222,995|249,527|
|Global Equities 8 Equity Funds Iin UK)||||||
|FUNDROCK PTNRS LTD FP WHEB SUST8 GBP ACC||72,975|81,107|||
|FIRST5ENTIER IN VR STEWART INV WWI|DE 5USTA|85,782|95,025|||
|LIONTRUST FUND PAR SUST FUTURE GBLGTH 2 A||39,120|42,502|||
|SARASIN FUND MANAG
SARSIN RESPONSIBLE GBI||30,095|33,507|||
|||227,972|252,141|||
|Multi-Asset
Funds||||||
|Castlefield
FD PTN MNGD Mutli Asset||88,763|105,451|142,918|140,707|
|COIF income shares||23,785|496,871|23,785|415,260|
|||112,548|602,322|166,703|555,967|
|Other assets||||||
|Capital for Colleagues
Ord 0.40||43,605|42,241|43,605|42,716|
|UK Equities &Equity Funds||||||
|Castlefield
FD PTN BESTIncome||518,164|533,232|457,714|402,094|
|Castlefield
FD PTN UK Smaller Cos Fund||379,378|603,316|45,913|82,084|
|Castlefield
FD PTN UK Opportunities||45,913|127,745|379,378|455,177|
|||943,455|1,264,293|883,005|939,355|
|TOTAL||1,702,823|2,552,020|1,642,418|2,101,404|
##
|10|Debtors|||2021|2020|
|---|---|---|---|---|---|
|||||f|f|
||Other debtors|||25,254|8,963|
||Prepayments|and accrued income||||
|||||25,254|8,963|
|11|Creditors: amounts||falling due within one year|2021|2020|
|||||f|f|
||Trade creditors and||accruals|14,133|16,774|
||Other creditors|||21,398|20,648|
|||||35,531|37,422|
|12|Analysis|of net assets between funds|General|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||f|f|f|
||Fixed assets||9,070,270|500|9,070.770|
||Current|assets|263,872||263,872|
||Current|liabilities|(35,531)||(35,531)|
||Net assets at 31March 2021||9,298,611|500|9,299.111|
|13|Restricted funds|||2021|2020|
|||||f|f|
||At 31March 2021and 31March 2020|||500|500|
|Unrestricted
funds|2021|2020|
|---|---|---|
||f|f|
|Balance at 1April 2020|8,825F25|9,094,807|
|Incoming
resources|387,390|416,991|
|Resources expended|(381,641)|(408,890)|
|Investment
(losses) gains|467,447|(277,493)|
|Balance at 31March 2021|9,298,611|8,825,415|
##