| Contents | Page |
|---|---|
| Legal & administrative details | 1 |
| Trustees' report | 2- 3 |
| Independent examiners report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7-13 |
| Trustees: | The Right Reverend Dr David Walker - Chair |
|---|---|
| Mr Christopher Bredholt | |
| Ms R. Dawson | |
| The Venerable Dr William M Jacob | |
| Professor Frances Knight | |
| The Reverend Dr Stephen Spencer | |
| Charity Number: | 527278 |
| Registered Office: | c/o Atherden & Co |
| Chartered Accountants | |
| PO Box 660 | |
| Altrincham | |
| WA14 3UZ | |
| Bankers: | Natwest Bank plc |
| 42 High Street | |
| Sheffield | |
| S1 2GE | |
| Independent Examiner: | Natalie Bracey FCA |
| Hart Shaw LLP | |
| Chartered Accountants | |
| Europa Link | |
| Sheffield Business Park | |
| Sheffield | |
| S91XU |
111~ =5
| Note | 2022 | 2021 | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| Fixed assets | ||||
| Investments | 6 | 3,252,162 | 3,400,332 | |
| 3,252,162 | 3,400,332 | |||
| Current assets | ||||
| Debtors | 7 | 22,461 | 19,845 | |
| Cash at bank and in hand | 87,808 | 80,163 | ||
| 110,269 | 100,008 | |||
| Creditors: | ||||
| Amounts falling due within one year | 8 | (109,447) | (62,021) | |
| Net current assets | 822 | 37,987 | ||
| Net assets | 3,252,984 | 3,438,319 | ||
| Funds | ||||
| Unrestricted | 9 | 3,021,169 | 3,203,929 | |
| Restricted | 10 | 7,250 | 7,250 | |
| Endowment | 11 | 224,565 | 227,140 | |
| 3,252,984 | 3,438,319 |
| 2022 | 2021 | ||
|---|---|---|---|
| Total | Total | ||
| Funds | Funds | ||
| Notes | £ | £ | |
| Net cash used in operating activities | 14 | (100,021) | (92,553) |
| Cash flows from investing activities: | |||
| Interest, dividends from investments | 99,319 | 86,536 | |
| Proceeds from the sale of investments | 263,869 | 606,742 | |
| Purchase of investments | (259,707) | (591,543) | |
| Change in capital float | 4,185 | (7,161) | |
| Net cash provided by investing activities | 107,666 | 94,574 | |
| Change In cash and cash equivalents in the year | 7,645 | 2,021 | |
| Cash and cash equivalents brought forward | 80,163 | 78,142 | |
| Cash and cash equivalents carried forward | 87,808 | 80,163 |
| Investment income | |||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |
| Funds | Funds | Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Income from quoted investments | 99,233 | - | - | 99,223 | 86,525 |
| Bank & other interest | 86 | - | - | 86 | 11 |
| 99,319 | - | - | 99,319 | 86,536 |
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | ||
| 2022 | 2022 | 2022 | 2022 | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Teaching costs | 126,235 | - | - | 126,235 | 112,720 | |
| Support costs | 1,483 | - | - | 1,483 | 1,118 | |
| Administrator & accountancy costs | 6,918 | • | 6,918 | 6,840 | ||
| Independent examination costs | 1,224 | * | - | 1,224 | 1,087 | |
| Trustee meetings and other travel costs | 274 | - | - | 274 | ||
| 136,134 | __ | ■ | 136,134 | 121,765 |
| Staff | Other | Total | Total | ||
|---|---|---|---|---|---|
| Costs | Depreciation | Costs | Costs | Costs | |
| 2022 | 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | £ | |
| Investment management costs | - | - | 8,707 | 8,707 | 8,228 |
| Direct charitable expenditure | - | - | 136,134 | 136,134 | 121,765 |
| - | - | 144,841 | 144,841 | 129,993 |
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Valuation: | ||
| At 1 August | 3,400,332 | 2,851,543 |
| Additions | 259,707 | 591,543 |
| Disposal | (258,235) | (544,266) |
| Change in capital float | (4,185) | 7,161 |
| Unrealised investment gain/(loss) | (145,457) | 494,351 |
| At 31 July | 3,252,162 | 3,400,332 |
| £ | £ | |
| Analysis | ||
| Global Equity Funds excluding UK | 812,948 | 191,148 |
| Global Equities & Equity Funds including UK | 1,021,473 | 1,624,562 |
| Multi-Asset Funds | 184,195 | 400,067 |
| Direct Property & Property Funds | 202,202 | 172,045 |
| Fixed Interest & Fixed Interest Investment Funds | 56,805 | 83,159 |
| Other funds | 65,890 | - |
| Equity Investment Instruments | 902,886 | 919,403 |
| Cash | 5,763 | 9,948 |
| 3,252,162 | 3,400,332 | |
| Historical cost: | £ | |
| At start of year | 2,737,730 | 2,656,260 |
| At end of year | 2,756,551 | 2,737,730 |
| Debtors | 2022 | 2021 |
| £ | £ | |
| Prepayments and accrued income | 22,461 | 19,845 |
| Creditors | 2022 | 2021 |
| £ | £ | |
| Amounts falling due within one year: | ||
| Accruals and deferred income | 109,447 | 62,021 |
| Balance at | Incoming | Gains & | Balance at | ||
|---|---|---|---|---|---|
| 1 August 2021 | Resources | Expenditure | (losses) | 31 July 2022 | |
| £ | £ | £ | £ | £ | |
| General Fund | 3,203,929 | 99,329 | (144,841) | (137,248) | 3,021,169 |
| Balance at | Incoming | Gains & | Balance at | ||
| 1 August 2020 | Resources | Expenditure | (losses) | 31 July 2021 | |
| £ | £ | £ | £ | £ | |
| General Fund | 2,722,320 | 86,546 | (129,993) | 525,056 | 3,203,929 |
| Restricted funds | Incoming/ | Gains & | |||
| Balance | (outgoing) | Losses | Balance | ||
| 1 August 2021 | Resources | 31 July 2022 | |||
| £ | £ | £ | £ | ||
| General | 7,250 | • | - | 7,250 | |
| 7,250 | - | - | 7,250 |
| Endowment funds | ||||
|---|---|---|---|---|
| Balance at | Gains/ | Balance at | ||
| **1 ** | August 2021 | (losses) | 31 July 2022 | |
| £ | £ | £ | ||
| Mitchell Bequest | 21,354 | (244) | 21,110 | |
| Beck and Lawson Trust | 4,012 | (46) | 3,966 | |
| N B Jarvis (Greenleaves) | 1,239 | - | 1,239 | |
| Booth Bequest | 170 | (2) | 168 | |
| Garton Bequest | 2 | - | 2 | |
| Burgh College - Bursary (Moore) Trust | 10,543 | (120) | 10,423 | |
| Burgh College - Sale proceeds Trust | 186,878 | (2,130) | 184,748 | |
| Burgh College - Wheat Trust | 2,942 | (33) | 2,909 | |
| 227,140 | (2,575) | 224,565 |
| 12. Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Fund balances at 31 July 2022 | ||||
| Fixed Assets - Investments | 3,028,838 | - | 223,324 | 3,252,162 |
| Current assets | 101,778 | 7,250 | 1,241 | 110,269 |
| Current liabilities | (109,447) | - | - | (109,447) |
| Total Net Assets | 3,021,169 | 7,250 | 224,565 | 3,252,984 |
| Unrealised gains/ (losses) included: | ||||
| On investment assets | 283,383 | - | 212,229 | 495,612 |
| £ | £ | £ | £ | |
| Fund balances at 31 July 2021 | ||||
| are represented by: | ||||
| Fixed Assets - Investments | 3,174,433 | - | 225,899 | 3,400,332 |
| Current assets | 91,517 | 7,250 | 1,241 | 100,008 |
| Current liabilities | (62,021) | - | - | (62,021) |
| Total Net Assets | 3,203,929 | 7,250 | 227,140 | 3,438,319 |
| Unrealised gains/ (losses) included: | ||||
| On investment assets | 447,798 | - | 214,804 | 662,602 |
| 14. Cash flow | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Reconciliation of net income to net cash used in operating activities: | ||
| Net movement in funds as per the statement of | ||
| financial activities | (185,335) | 513,380 |
| Adjustments for: | ||
| Losses/(gains) on investments | 139,823 | (556,827) |
| Deduct interest, dividends from investments | (99,319) | (86,536) |
| (Increase) in debtors | (2,616) | (765) |
| Increase in creditors | 47,426 | 38,195 |
| Net cash used in operating activities | (100,021) | (92,553) |