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2023-07-31-accounts

Governors Governors PJ Smith (Chairman) PJ Smith (Chairman) PJ Smith (Chairman)
Professor J R Bryson
C D Nicholls
T Botterill
Miss E Griffin
CA Sherrey (Deputy Chairman)
A Constantinou
W F McFarland
Mrs VA Bordewich
R De Morewood Blomfield
Chapel Fund Committee PJ Smith
Miss E Griffin
A Constantinou OWA Representative
Charity number 527523
Clerk to the Governors Mrs BJ Drew
Independent examiner Sandra Garrington (F.C.A., F.C.C.A., C.TA.)
Price Pearson
Finch House
28-30Wolverhampton Street
Dudley
West Midlands
DY1 1DB
Bankers HSBC Bank Pic
31 Church Street
Kidderminster
Worcestershire
DY10 2AY
Solicitors mfg Solicitors LLP
Adam House
Birmingham
Road
Kiddermin ster
Worcestershire
DY102SH
Investment advisers CCLA Investment Management Limited
1 Angel Lane
London
EC4R 3AB

Unrestricted Unrestricted Unrestricted Restricted Endowment Total Total
funds funds funds funds 2023 2022
general designated
Notes 6
Ingnrmfuuu;
Investments 186,806 9,239 708 196,753 190,544
ExuenttitttmJtn;
Charitable
activities		 3 186,445 9,600 708 196,753 190,544
Net (losses) Igain
on investments 9 (238,015) (238,015) 4,599
Net incomingl
(outgoing)
resources before
transfers 361 (361) (238,015) (238,015) 4,599
Gross transfers
between
funds		 (361) 361
Net movement in funds (238,015) (238,015) 4,599
Fund balances at 1
August 2022 6,725,050 6,725,050 6,720,451
Fund balances at
31 July 2023 6,487,035 6,487,035 6,725,050

2023 2022
Notes 6 6
Fixed assets
Investments 6,484,579 6,722,594
Current assets
Debtors 13 324 312
Cash at bank and in hand 173,198 177,382
173,522 177,694
Creditors: amounts falling due within 14
one year (171,066) (175,238)
Net current assets 2,456 2,456
Total assets less current liabilities 6,487,035 6,725,050
Capital funds
Endowment
funds		 6,487,035 6,725,050
(Including
revaluation		 reserve off4,039,880, 2022: 64,277,895)
Income funds
Unrestricted
funds -		 general
6,487,035 6,725,050

Unrestricted Unrestricted Restricted Totai Total
funds funds funds 2023 2022
general designated
F 8
Rental income 1,989 1,989 1,989
Income from listed investments 180,567 9,239 708 190,514 188,219
Interest receivable 4,250 4,250 336
186,806 9,239 708 196,753 190,544
For the period ended 31July 2022 180,707 9,137 700 190,544

2023 2022
Staff costs 14,884 11,133
Depreciation and impairment 160
Property expenses 10,414 2,305
Insurance 2,295 2,162
Legalfees 1,740
Accountancy 4,272 3,840
Sundry expenses 822 477
Postage &stationery 430 705
Website
&laptop costs		 (5,650) 9,468
Marketing (2,000) 2,000
27,207 32,250
Grant funding ofactivities (see note 4) 167,278 156,134
Governance costs (see note 6) 2,268 2,160
196,753 190,544
Analysis
by		 fund
Unrestricted funds - general 186,445
Unrestricted funds - designated 9,600
Restricted funds 708
196,753
For the year ended 31July 2022
Unrestricted funds - general 181,001
Unrestricted funds - designated 8,843
Restricted funds 700
190,544

Unrestricted Designated Restricted 2023 2022
funds funds funds
E E E E E
Grants to institutions (18grants):
School capital and block grants 121,468 121,468 86,847
Other capital grants 3,100 3,100 16,534
Prizes 225 225 225
Church Fees 10 10 10
124,803 124,803 103,616
Grants to individuals (58grants):
Further education grants 32,167 9,600 708 42,475 52,518
156,970 9,600 708 167,278 156,134

School grants
Wolverley
Sebright Primary Academy (3grants)		 36,556
Cookley Sebdght
Primary School (3		 grants) 36,556
Wolverley CE Secondary School (3 grants) 30,356
Birchen Coppice Academy (1 grant) 5,000
Burlish Primary School (1 grant) 1,500
Franche Community
Primary School		 (1 grant) 5,000
StCathednes
CE Primary School (1		 grant) 1,500
Stourport
Primary Academy
(1 grant)		 1,000
Sutton Park Primary RSEAcademy (1 grant) 3,750
Other grants E
Wyre Forest Scouts (1 grant) 2,500

Grants payable analysis Grants payable analysis Grants payable analysis (Continued)
Grants off1,000or more made to individuals
Number ofpersons
General Fund
Further education
grants		 14 25,176
Chapel Fund
Further education
grants		 8,400
Student grants repayable
2023f 2022
6
Amounts
outstanding		 brought forward 38,315 31,185
Advances
during the		 year 2,500 16,500
40,815 47,685
Amounts
recovered		 during the year (8,270) (9,370)
32,545 38,315
The charge for further education grants included in the revenue account is made up as follows:
2023 2022
6 8
Grants awarded 50,745 61,888
Less: Grants received (8,270) (9,370)
42,475 52,518

Governance costs
Governance 2023 2022 Basis ofallocation
costs
F
Independent examination fee 1,200 1,200 1,200 Governance 100%
Accountancy 1,068 1,068 960 Governance 20%
2,268 2,268 2,160

8 Employees
The average
monthly		 number ofemployees during the year was:
2023 2022
Number Number
Management
and administration
Employment
costs		 2023 2022
8 E
Wages and salaries 14,884 11,133
There were no employees whose annual remuneration was more than 860,000.
9 Net gains/(losses) on investments
2023 2022
Revaluation
ofinvestments		 (238,015) 4,599
10 Tangible fixed assets
Websitef
Cost
At 1 August 2022 23,777
At 31 July 2023 23,777
Depreciation
and impairment
At 1 August 2022 23,777
At 31 July 2023 23,777
Carrying
amount
At 31 July 2023
At 31 July 2022

Land and COIF Property COIF Total
Buildings Income
Shares
Fund Shares
6 6
Cost or valuation
Market Value at 1
August 2022 196,000 519,251 6,007,343 6,722,594
Valuation changes (102,770) (135,245) (238,015)
At 31 July 2023 196,000 416,481 5,872,098 6,484,579
Carrying
amount
At 31 July 2023 196,000 416,481 5,872,098 6,484,579
At 31 July 2022 196,000 519,251 6,007,343 6,722,594
Historical cost
At 31 July 2023 466,923 1,791,776 2,258,699
At 31 July 2022 466,923 1,791,776 2,258,699

12 Financial instruments instruments 2023 2022
6
Carrying amount of financial assets
Equity instruments measured at fair value 6,484,579 6,722,594
Carrying amount of financial liabilities
Measured at amortised cost 171,066 175,238
13 Debtors
2023 2022
Amounts falling due within one year: E E
Prepayments
and		 accrued income 324 312
14 Creditors: amounts falling due within one year
2023 2022
6 E
Grants payable 162,433 155,598
Accruals and deferred income 8,633 19,640
171,066 175,238
Balance at 1 Revaluation of Balance at 31July
August 2022 fixed asset 2023
investment
J Edmonds Bequest Fund 23,374 (937) 22,437
H Oakes Music Prize Fund 328 (14) 314
Old Wolvemian Association Prize Fund 321 (12) 309
24,023 (963) 23,060

Nominal Book Value Market Value Increase I Market Value
(Decrease)
31stJuly 2022 Additions Disposals in valuation
31stJuly 2023
UNRESTRICTED FUND INVESTMENTS No. 6 8 6 8 6 6
Charities Official Investment Fund:
Income shares 295,338.61 1,700,341 5,716,988 (128,708) 5,588,280
Property Fund Income shares 351,197.97 427,780 476,258 (94,261) 381,997
2,128,121 6,193,246 (222,969) 5,970,277
DESIGNATED FUND INVESTMENTS (CHAPEL FUND)
Charities Official Investment Fund:
Income shares 13,883.15 84,568 268,742 (6,051) 262,691
Property Fund Income shares 29,926.24 36,950 40,583 (8,032) 32,551
121,518 309,325 (14,083) 295,242
RESTRICTED FUND INVESTMENTS
J.EDMONDS BEQUEST
Charities Official Investment Fund:
Income shares 1,086.42 6,681 21,030 (473) 20,557
Property Fund Income shares 1,728.25 2,134 2,344 (464) 1,880
H. OAKES MUSIC PRIZE FUND
Charities Official Investment Fund:
Income shares 15.24 94 295 (7) 288
Property Fund Income shares 24.25 30 33 (7) 26
OLD WOLVERNIAN
ASSOCIATION		 PRIZE FUND
Charities Official Investment Fund:
Income shares 14.95 92 289 (6) 283
Property Fund Income shares 23.77 29 32 (6) 26
9,060 24,023 (963) 23,060
TOTAL INVESTMENTS 2,258,699 6,526,594 (238,015) 6,288,579