**REGISTERED CHARITY NUMBER: 527616**
## **Report of the Trustees and**
## **Financial Statements**
## **for the Year Ended 31 March 2021**
## **for**
**Foundation of Christ's Hospital at Lincoln**
**Foundation of Christ's Hospital at Lincoln**
## **Contents of the Financial Statements for the year ended 31 March 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Statement of Financial Position**|8|
|**Statement of Cash Flows**|9|
|**Notes to the Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 to 19|
|**Detailed Statement of Financial Activities**|20 to 21|
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Governance**
The charity is presently governed by a Charity Commission Scheme dated 2 August 1983 which amalgamated the previous charity of this name with a separate charity called The Lincoln School. The scheme number is L4-527 616/8.
## **Governors**
The governors have served as stated on pages 4.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
In setting our objectives, governors have given careful consideration to The Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education.
The charity's main objective is as follows:-
Subject to payment of the charity's administration and maintenance expenses, the income generated by the charity is devoted to the advancement of education for individuals, both while they are pupils at the Lincoln Christ's Hospital School and during further education up to the age of 25. This objective is achieved by providing grants, buildings, facilities and open spaces to both individuals and organisations.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Foundation has donated sums of money totalling £1,000 to 2 students with individual awards valued at £500. A verification process confirmed that the requests were genuine and the aspirations realistic. The students used these funds for items of equipment, books and assistance with travel. The funding has allowed the pupil applicants to enhance their study experiences and helped to motivate them in their chosen fields of study.
With the dissolution of the Lincoln High School Old Girls Housing Association, the LCHS Foundation received an injection of restricted funds of £156,000 within the year. Two members of the legacy and grants committee were also members of Lincoln High School Old Girls Housing Association to provide continuity in satisfying the aims of the dissolved charity which is to provide grants for accommodation to students leaving Lincoln Christ's Hospital School as they enter further education.
Due to the timing of the year end a significant reduction on the investments had occurred in the prior year resulting in an overall deficit of £200,200, this year righted itself with a significant excess in net gains on investments amounting to £183,940. This has resulted in a surplus for the year of £339,013 and so had sufficient reserves to enable the charity to make grants to Lincoln Christ's Hospital School.
Page 1
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees**
## **for the year ended 31 March 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees believe that the charity is a viable going concern entity with free reserves of £153,224 (2020: £166,656) and sufficient operational reserves to cover essential costs being the Clerk's fees and Independent Examiner's fees which are annually in the region of £5,000 and £3,000 respectively.
The investment property was impaired last year owing to the Covid-19 pandemic and the Foundation agreed to a "rental holiday" on property which it owns in Scunthorpe.
The monies received from school lettings has been significantly affected in the period since March 2020 and therefore the donations being given by the Foundation to the school. The Trustees are confident that once the Covid-19 restrictions are relaxed this income will return to more normal levels.
## **THE GOVERNORS OF THE FOUNDATION OF CHRIST'S HOSPITAL AT LINCOLN**
The governors of the above trust submit their annual report and accounts for the year ended 31 March 2021 and confirm that the financial statements comply with statutory requirements and the Charity Commission's Scheme.
The investment and donation income of the trust was £211,425 (2020: £186,366).
## **FUTURE PLANS**
During the year ended 31 March 2021 the Trustees paid for maintenance work to the existing front hedge at the school. Professional plans have now been drawn up and approved by the Trustees in consultation with the school Headmaster to provide a brand-new boundary for the school premises.
In addition, a five-year building and maintenance plan is currently being formulated. Initially a surveyor's brief will be prepared by professional advisors to set out options for different levels of survey work and related costs.
It has been agreed to contribute £10,000 per annum for 8 years commencing autumn 2021 for the loan repayments of the sports hall roof.
A donation of £2,000 has also been agreed by the Trustees to be given to the school towards the establishment of a sensory garden.
The Charity Commission for England and Wales internal financial controls document for charities, recommends implementation of various policies for good governance. These have now been adopted by the Foundation to ensure that good practice prevails and that the charity's performance is reviewed on an annual basis.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new governors/trustees**
New trustees are either nominated or co-opted in line with the charity's constitution. New trustees are encouraged to access various online training resources.
Page 2
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 527616
## **Principal address**
Wragby Road LINCOLN Lincolnshire LN2 4PN
## **Trustees**
Mr A Jones Mr A Mills Mr C Pickering Mr J Hanrahan Mr P Harrod Mr D Gibbons Mrs J Daly (appointed 12.11.20)
## **Independent Examiner**
Mrs Emma Murray FCA ICAEW Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
Page 3
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2021**
**REFERENCE AND ADMINISTRATIVE DETAILS GOVERNORS Chair** : Mr A Jones **Acting Chair:** Mrs J Daly **Vice Chairmen** : Mr A Mills Mr D Gibbons Mr S Holt - Appointed 24.03.2021 Mr P M F Harrod Mr J Hanrahan Mr C Pickering Revd Canon J Patrick Mr C Milnes - Appointed 24.11.2020 Mr M Edgar - Appointed 24.11.2020 Mr S Parkes - Appointed 24.03.2021 **Co-optative :** Mrs D M Scammell - Resigned 20.11.2020 Mr J Males Mrs J Daly Miss L Sellers - Resigned 25.11.2020 **Clerks Address:** Mrs L Martin c/o Lincoln Christ's Hospital School Wragby Road LINCOLN LincolnshireLN2 4PN
## **Investment Advisers**
Investec Wealth & Investment Limited Quayside House Canal Wharf LEEDS LS11 5PV
M&G Group Laurence Pountney Hill LONDON EC4R 0HH
## **CORRESPONDENCE**
Enquiries should be addressed to Mrs Lynda Martin, c/o Lincoln Christ's Hospital School, Wragby Road, Lincoln LN2 4PN.
Page 4
## **Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2021**
Approved by order of the board of trustees on 21 September 2021 and signed on its behalf by:
Mrs J Daly - Trustee
Page 5
## **Independent Examiner's Report to the Trustees of Foundation of Christ's Hospital at Lincoln**
## **Independent examiner's report to the trustees of Foundation of Christ's Hospital at Lincoln**
I report to the charity trustees on my examination of the accounts of Foundation of Christ's Hospital at Lincoln (the Trust) for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs Emma Murray FCA ICAEW Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
27 September 2021
Page 6
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Financial Activities for the year ended 31 March 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
Other income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Charitable activities
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
97
17,864
37,464
55,425
16,081
40,731
56,812
183,940
182,553
1,422,113
1,604,666|Restricted
funds
£
156,000
-
-
156,000
-
-
-
-
156,000
8,083
164,083|2021
Total
funds
£
156,097
17,864
37,464
211,425
16,081
40,731
56,812
183,940
338,553
1,430,196
1,768,749|2020
Total
funds
£
117,436
20,968
47,962
186,366
13,117
141,817
154,934
(231,632)
(200,200)
1,630,396
1,430,196|
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Financial Position 31 March 2021**
|Notes
**FIXED ASSETS**
Tangible assets
10
**Investments**
Investments
11
Investment property
12
**CURRENT ASSETS**
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
62,430
989,472
400,000
1,451,902
5,895
170,548
176,443
(23,679)
152,764
1,604,666
1,604,666|Restricted
funds
£
-
-
-
-
-
164,083
164,083
-
164,083
164,083
164,083|2021
Total
funds
£
62,430
989,472
400,000
1,451,902
5,895
334,631
340,526
(23,679)
316,847
1,768,749
1,768,749
1,604,666
164,083
1,768,749|2020
Total
funds
£
62,430
793,027
400,000
1,255,457
13,780
183,874
197,654
(22,915)
174,739
1,430,196
1,430,196
1,422,113
8,083
1,430,196|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 September 2021 and were signed on its behalf by:
Mrs J Daly - Trustee
The notes form part of these financial statements
Page 8
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Cash Flows for the year ended 31 March 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2021
£
163,245
163,245
(210,962)
198,457
17
(12,488)
150,757
183,874
334,631|2020
£
34,655
34,655
(221,490)
153,281
35
(68,174)
(33,519)
217,393
183,874|
|---|---|---|
The notes form part of these financial statements
Page 9
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Statement of Cash Flows**
## **for the year ended 31 March 2021**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**|||
|---|---|---|
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
(Gain)/losses on investments
Interest received
Decrease in debtors
Increase in creditors
**Net cash provided by operations**|2021
£
338,553
(183,940)
(17)
7,885
764
163,245|2020
£
(200,200)
231,632
(35)
3,231
27|
|||34,655|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.4.20|Cash flow|At 31.3.21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|183,874|150,757|334,631|
||183,874|150,757|334,631|
|**Total**|183,874|150,757|334,631|
The notes form part of these financial statements
Page 10
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements for the year ended 31 March 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is taken into credit by reference to the date of payment of dividends or the date on which interest is credited to Trust deposits. No credit is taken for dividends or interest accruing.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub sectors.
## **Tangible fixed assets**
Tangible Fixed Assets are recorded at cost or, in the events of goods being donated, at valuation at the time of acquisition.
## **Investment property**
Investment property is shown at fair value. Any changes to the fair value are included within the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
Page 11
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Value added tax**
The charity is registered for VAT and the financial statements are therefore net of value added tax where applicable.
## **Operating Lease**
Rentals payable and receivable under operating leases are charged in the statement of financial activity on a straight line basis over the lease term.
## **2. DONATIONS AND LEGACIES**
Donation income in the year amounted to £156,097 (2020 : £117,436).
## **3.**
## **INVESTMENT INCOME**
|Income from investments
Deposit account interest|2021
£
17,847
17
17,864|2020
£
20,933
35|
|---|---|---|
|||20,968|
## **4. OTHER INCOME**
Other income relates to rents received on investment properties, this amounts to £37,464 (2020: £47,962).
Page 12
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **5. RAISING FUNDS**
## **Investment management costs**
|2021
£
Rental expenses
7,486
Property repairs
-
7,486
**6.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
7)
note 8)
£
£
£
Charitable activities
4,598
11,296
24,837
**7.**
**GRANTS PAYABLE**
2021
£
Charitable activities
11,296
Donations payable to institutions during the year amounted to £11,296 (2020: £121,499).
**8.**
**SUPPORT COSTS**
Governance
Finance
Other
costs
£
£
£
Charitable activities
11,206
9,307
4,324|2020
£
4,774
8,343
13,117
Totals
£
40,731
2020
£
121,499|2020
£
4,774
8,343|
|---|---|---|
|||13,117|
|||Totals
£
40,731|
||Totals
£
24,837||
Page 13
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **8. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Finance**
|2021
Charitable
activities
£
Investment manager fees
11,206
**Other**
2021
Charitable
activities
£
Archivists
9,307
**Governance costs**
2021
Charitable
activities
£
Independent examiner fee
2,620
Auditors' remuneration for non audit
work
984
Legal fees
720
4,324|2020
Total
activities
£
11,094
2020
Total
activities
£
4,821
2020
Total
activities
£
1,980
-
-
1,980|
|---|---|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
None of the trustees received any remuneration or other benefits for the year ended 31 March 2021 nor the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Page 14
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020 and 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|School
premises
£
62,430
62,430
62,430|
|---|---|
The land represents the school premises at Wragby Road, Lincoln. This is a listed building dating from 1907. Along with more recent additions, it is inspected periodically on behalf of the governors by architects and surveyors.
## **11. FIXED ASSET INVESTMENTS**
||Listed|
|---|---|
||investments|
||£|
|**MARKET VALUE**||
|At 1 April 2020|793,027|
|Additions|210,962|
|Disposals|(198,457)|
|Revaluations|183,940|
|At 31 March 2021|989,472|
|**NET BOOK VALUE**||
|At 31 March 2021|989,472|
|At 31 March 2020|793,027|
There were no investment assets outside the UK.
Cost or valuation at 31 March 2021 is represented by:
|||Listed|
|---|---|---|
|||investments|
|||£|
|Valuation in|2021|183,940|
|Cost||805,532|
|||989,472|
Page 15
continued...
## **Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **12. INVESTMENT PROPERTY**
|**INVESTMENT PROPERTY**||
|---|---|
|**FAIR VALUE**
At 1 April 2020
and 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|£
400,000|
||400,000|
||400,000|
During the period the investment properties were let or available for let under operating leases. The amounts due under these leases are as follows:
|Within one year
Between one and five years|£
50,000
147,500|
|---|---|
||£197,500|
The investment property was valued in 2019 at an amount of £520,000 on an open market basis, However due to the ongoing pandemic affecting the general economy and investment properties as a whole, the Trustees, with the advice of a local property expert consider this value to be impaired. As such a valuation of £400,000 has been included within the financial statements, Had this property not been impaired the cost of the investment property would have been £501,857.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade debtors
Prepayments|2021
£
-
5,895
5,895|2020
£
8,595
5,185|
|||13,780|
Page 16
continued...
## **Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|VAT
Accruals and deferred income
**MOVEMENT IN FUNDS**
At 1.4.20
£
**Unrestricted funds**
General fund
1,422,113
**Restricted funds**
Legacy monies
8,083
Lincoln High School
-
8,083
**TOTAL FUNDS**
1,430,196
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
55,425
(56,812)
**Restricted funds**
Lincoln High School
156,000
-
**TOTAL FUNDS**
211,425
(56,812)||2021
£
2,284
21,395
23,679
Net
movement
in funds
£
182,553
-
156,000
156,000
338,553
Gains and
losses
£
183,940
-
183,940|2020
£
2,559
20,356
22,915
At
31.3.21
£
1,604,666
8,083
156,000
164,083
1,768,749
Movement
in funds
£
182,553
156,000
338,553|
|---|---|---|---|
|||||
|||||
|||||
## **15. MOVEMENT IN FUNDS**
Page 17
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **15. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.4.19
in funds
£
£
**Unrestricted funds**
General fund
1,621,393
(199,280)
**Restricted funds**
Legacy monies
9,003
(920)
**TOTAL FUNDS**
1,630,396
(200,200)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
186,366
(154,014)
(231,632)
**Restricted funds**
Legacy monies
-
(920)
-
**TOTAL FUNDS**
186,366
(154,934)
(231,632)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.19
in funds
£
£
**Unrestricted funds**
General fund
1,621,393
(16,727)
**Restricted funds**
Legacy monies
9,003
(920)
Lincoln High School
-
156,000
9,003
155,080
**TOTAL FUNDS**
1,630,396
138,353|At
31.3.20
£
1,422,113
8,083
1,430,196
Movement
in funds
£
(199,280)
(920)
(200,200)
At
31.3.21
£
1,604,666
8,083
156,000
164,083
1,768,749|
|---|---|
Page 18
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2021**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Legacy monies
Lincoln High School
**TOTAL FUNDS**|Incoming
resources
£
241,791
-
156,000
156,000
397,791|Resources
expended
£
(210,826)
(920)
-
(920)
(211,746)|Gains and
Movement
losses
in funds
£
£
(47,692)
(16,727)
-
(920)
-
156,000
-
155,080
(47,692)
138,353|
|---|---|---|---|
## **Legacy Monies**
This fund holds resources for the purpose of providing grants to pupils and ex pupils in specialised areas.
## **Lincoln High School**
An amount of £156,000 was donated in the year. This money is to provide grants for accommodation, to students leaving Lincoln Christ’s Hospital school, as they enter further education.
## **16. RELATED PARTY DISCLOSURES**
During the year ended 31 March 2021 there were various transactions with Lincoln Christ's Hospital School, a related party.
Page 19
## **Foundation of Christ's Hospital at Lincoln**
|**Detailed Statement of Financial Activities**
**for the year ended 31 March 2021**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Income from investments
Deposit account interest
**Other income**
Rents
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bad debts
**Investment management costs**
Rental expenses
Property repairs
**Charitable activities**
Clerks honorarium
Donations
**Support costs**
**Finance**
Investment manager fees
**Other**
Archivists
**Governance costs**
Independent examiner fee
Carried forward|2021
£
156,097
17,847
17
17,864
37,464
211,425
8,595
7,486
-
7,486
4,598
11,296
15,894
11,206
9,307
2,620
2,620|2020
£
117,436
20,933
35|
|---|---|---|
|||20,968
47,962|
|||186,366
-
4,774
8,343|
|||13,117
2,423
121,499|
|||123,922
11,094
4,821
1,980
1,980|
This page does not form part of the statutory financial statements
Page 20
## **Foundation of Christ's Hospital at Lincoln**
## **Detailed Statement of Financial Activities for the year ended 31 March 2021**
|**Governance costs**
Brought forward
Auditors' remuneration for non audit work
Legal fees
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
Realised gains/(losses) on investment
property
**Net income/(expenditure)**|2021
£
2,620
984
720
4,324
56,812
154,613
183,940
-
338,553|2020
£
1,980
-
-
1,980
154,934
31,432
(111,632)
(120,000)
(200,200)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 21