## ## ## |CONTENTS|||| |---|---|---|---| ||||Page| |Charity Reference and Administrative||Details|| |Trustees'
Report|||2toS| |Statement of Financial Activities|||| |Balance Sheet|||| |Unrestricted
Funds|||| |Restricted
Funds|||| |Endowment
Funds|||10| |Notes to the Accounts|||11to 20| |Independent
Examiner's|Report||21| ## ## ## |Ex Officio Trustees|Ex Officio Trustees|Ex Officio Trustees|Ex Officio Trustees||The Mayor of Newark
—Cllr L Goff—appointed|The Mayor of Newark
—Cllr L Goff—appointed|The Mayor of Newark
—Cllr L Goff—appointed|May|22|22| |---|---|---|---|---|---|---|---|---|---|---| ||||||The Mayor of Newark —Cllr LGeary —resigned|||May|22|| ||||||The Rector of Newark
—Reverend
C Lion|—appointed||||Oct 21| |Nottinghamshlre|||County|Council Trustees|5 Wallace —resigned
May 21|||||| ||||||5Smith —appointed
Aug 21|||||| |Newark|Town Council Trustees||||J Baggaley|||||| ||||||J Henderson|||||| |District|Church Council Trustees||||I Howlett|||||| |Co-optative||Trustees|||M D Beaumont
CBE (Chairman)|||||| ||||||G 5 Cartledge
CBE|||||| ||||||I
I Derry (Vice Chairman)|||||| ||||||AJ Fearn|||||| ||||||M Furness
QC|||||| ||||||D Saxelby —resigned
Jul 21|||||| ||||||R LWatkinson|||||| ||||||N Wild —appointed
Oct 21|||||| |Clerk to|the|Trustees|||Mrs A Allison|||||| |Administrator|||||Duncan
& Toplis
—Chartered
Accountants||and Business Advisers,|||| ||||||14 London
Road, Newark,
Nottinghamshire,|||NG14|1TW|| |Charity|Offices||||Olympic
House,
Doddington
Road, Lincoln||LN6 3SE|||| |Independent||Examiner|||Adrian
Heigh, Stephenson
Nuttall
& Co.,|Chartered|||Accountants,|| ||||||6/8 Castle Gate, Newark,
Nottinghamshlre||NG24 1AX|||| |Bankers|||||National
Westminster
Bank Pic|||||| ||||||1Market
Place, Newark,
Nottinghamshire,||NG24 1DY|||| |Property|Agents||||Brown & Co.,The Old Bakery, 3 Norman|Way, Melton||||Mowbray,| ||||||LE13 1JE|||||| |Investment||Advisors|||Brewin
Dolphin
Securities
Ltd.|||||| ||||||Olympic
House,
Doddington
Road, Lincoln,||LN6 3SE|||| ## ## |The Magnus
C|hurch|of England School:|| |---|---|---|---| |General Grant|||3,400| |Music Tuition|Grant||27,122| |NewarkTeam|PCC —Choral Scholarships||6 322| ||||42 344| |Individuals:|||| |Pupils ofthe Magnus||Church of England School:|| |Grants to Pupils 24 x||6250|6000| ||||48344| ## ## ## ## ## ## |THE MAGNUS EDUCATIONAL|FOUNDATION||||||| |---|---|---|---|---|---|---|---| |STATEMENT OF FINANCIAL ACTIVITIES|||||||| |YEAR ENDED 5APRIL 2022|||||||| |||Unrestricted|Restricted|Endowment||Total|Total| |||Funds|Funds|Funds||Funds|Funds| |||Page 8
f|Page 9
E|Page 10
E||2022
E|2021
E| |Income and endowments|||||||| |Donations||2,988||||2,988|| |Investment
income||229 102||||229 102|227 084| |Total Income and endowments||232090||||232090|~227 084| |~td I|||||||| |Costs of raising funds
Charitable
activities||51,299
121000|59 115|6,887||58,186
180115|82,608
~158 192| |Total expenditure||172299|59115|6|87|238301|240 800| |Other reco nised
ains
losses|||||||| |Gains/(losses)
on revaluation
investment
asset disposals|and on|4,434||6,808||11,242|227,832| |Gains/(losses)
on revaluation
Investment
properties|on|||525|000|525 000|| |Total other recognised gains/(losses)||4434||531|8|536242|~227 832| |Net income/(expenditure)||64,225|(59,115)|524,921||530,031|214,116| |Transfers
between
funds||58 357|58357||||| |Net movement
In funds||5,868|(758)|524,921||530,031|214,116| |Re onclllation
offunds|||||||| |Total Funds brought
forward||454 279|758|5 905|953|6360990|~6146874| |Total Funds carried forward|||||||| ## |BALANCE SHEET
ASAT5APRIL 2022|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Note|Unrestricted
, Fundt,
.Page 8||Restrtctad,
Fundy
' Page 9'
''E||,
''|End
urrnfatt
i
. Ftt+,.
'
PaoBe$0
' ""'E''-".' .|||„Totat..
Fimds
2022
''E
'|..
'
. .|. ,|Tobd:-
Funds
W1
' E '| |FIXEDASSETS
Tangible assets
lh'vestmbnts
.:"|||||||||550,000
5
''||550,000
.
'7
'|||550,000
~6|| |TOTAL FIXEDAS5ETS|||||||||6,524~9||6524,669|||. BdNOr362|| |CURRENT ASSET5:.|||||||||||||||| |Debtors and prepayments|||9|90,861||||||||90,861,|||95,293| |investments
Cash at bank,
In transit and|ln hand,||8
, 10|142,303||59115|||7|.|.|142,303
27
2,||137,869
~23i|| |||||||||'||||||'|| |TOTAL CURIIENT ASSETS||||545,706||59,115|||(99,795)|||511,026|||463,485| |UfkBILITIES|||||||||||||||| |Credltoriki|||||||||||||||| |Amounts
fallln'g due'within|oiie ygar||'11|. :'BS
9|||||||||||| |NET CURRENT ASSETS/tLIABILITIES)||||'
'460,147 '|'||||-ISBPSSl||': 386,352||—||360,628'| |TOTAL NET ASSETS|||||||||||||||| |THE FUIIIDS OF'THE CHARIVyi
Endowmentfundh
i::::
'.-.'
—.':. ;:;: .12
Restricted income funds
12
Urirestrlcted
income funds
.
,::. .12,i 460|||||||:|„:**,**
6430AI74||":„4L430dt74
'|||.|:5,90S,953"
758|| |TOTAl CHARITY FUNDS|||||||||||||||| |Approved
by the Board of|Trustaes||on &|Yl,.„.
;„it1...|:.e%|@in„;.
,and||signeid on Itsbehalf:.||||;
.|||| ## |FOR THE YEAR ENDED 5|A|PRIL 2022||||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||General|Estate||Education||TOTAL|TOTAL| ||||Note|Account
f|Maintenance
f||Account
f||2022
f|2021
F.| |Income and endowments||||||||||| |Donations||||2988|||||2 988|| |Investment
Income||||||||||| |Dividends||||29,933|||||29,933|32,630| |Interest||||85|||||85|228| |Rents||||199084|||||199084|194226| |||||229 102|||||229 102|~227 084| |Totalincome||||232 090|||||232 090|~227 084| |~ddl||||||||||| |Cost of raising funds:||||||||||| |Insurance||||4,470|||||4,470|6,384| |Commission
lettings
and
Maintenance
and estate|expenses
Inspection|||14,561
13,568|||||14,561
13,568|12,115
24,070| |Bank charges and sundry
Planning
inspection|expenses|||36
4,500|||||36
4,500|52
5,750| |Drainage rates and council tax||||2,44S|||||2,448|2,220| |Light and heat
Legal fees||||5,155
6561
51299|||||5,155
6561
51299|2,838
23 000
~76429| |Charitable
activities||||||||||| |Song schoolexpenses
Benefits|||||||9,006
48,344||9,006
48,344|5,744
45,895| |Musical education|||||||40,500||40,500|36,620| |Salary and disbursements
- Clerk to the Trustees||||14,000|||||14,000|14,000| |Accountancy
and compliance
Independent
examination||||7,650
1500
23 150|||97|850|7,650
1500
121000|6,000
~1500
~109759| |Total expenditure||||74449|||97|850|172 99|~186188| |Other reco nised
alns|losses|||||||||| |Realised gains/(losses)
on||investment|disposals|||||||539| |Revaluation
recognised
in
realised
in current year
Revaluation
gains/(lasses)||previous years
for the year
8||||244|4|678|4434|3,217
~26 993| |Total other recognised gains/(losses)||||||244|4|678|4434|30749| |Net income/(expenditure)||||157d641|(244)||(93,172)||64,225|71,645| |Transfer to Education Account||||(98,526)|||98,526|||| |Transfer to Restricted
Funds||||59115||||758|58357|48433| |Net movement
In funds|||||(244)||6,112||5,868|23.212| |Reconcglatlan
offunds:||||||||||| |Funds brought
forward|||||5|523|448|756|454 279|~31067| |Funds carried forward||||||27|5|||~27| ## ## ||||Non-Education|Non-Education|||||| |---|---|---|---|---|---|---|---|---|---| ||||Account||*Old Magnuslans|TOTAL||TOTAL|| |||Note|Scholarship|Fund|Association|2022||2021|| ||||E||E|f||f|| |Income and endowments|||||||||| |Transfer from general account|||59115||758|58|35|48|433| |Totallncome|||59115||758|58|357|4~8433|| |E
di|||||||||| |Charitable
Activities|||||||||| |Grants payable|||59115|||59|115|48|433| |Total expenditure|||59115|||59|115|4~8433|| |Net movements|In funds||||{758)|(758)|||| |Reconcglatlon
Funds brought|offunds:
forward||||758||758||758| |Funds carried forward|||||||||| ## |||||||Investment|Investment||| |---|---|---|---|---|---|---|---|---|---| |||||Note|Permanent
f|properties
revaluations
E||TOTAL
2022
f|TOTAL
2021
f| |Income and endowments|||||||||| |Interest received|||||||||| |Total income|||||||||| |~Edl|||||||||| |Costs of raising funds:
Investment
management||costs|||6,887|||6,887|6,179| |Total expenditure|||||6887|||6887|6179| |Other reco nised
ains||losses|||||||| |Realised gains on investment|||disposals||7,990|||7,990|12,052| |Revaluation
recognised|in|previous years|||||||| |realised
in current year
Revaluation
gains/(losses)||for|current year|7|(1,807)
625|525|000|(1,807)
525 625|20,845
164186| |Total other recognised|gains/(losses)||||6808|525|000|531808|~197083| |Net movement
in funds|||||P9)|525,000||524,921|190,904| |Reconcigatlon
offunds:
Funds brought
forward|||||2855 586|3050|367|5 905953|~5715049| |Funds carried forward|||||2855 507|3575|67|6430874|~505953| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |SONG SCHOOL|EXPENSES||| |---|---|---|---| |||2022|2021| |||E|E| |Water rates|||718| |Counciltax||2,389|2,315| |Improvements|and repairs|5,612|1,893| |Vehicle right ofaccess||100|100| |Electricity||905|718| |Sundry|||| |||~9006|~5744| ## |THE MAGNUS
EDUCATION|THE MAGNUS
EDUCATION|THE MAGNUS
EDUCATION|AL
FOUNDATION|||| |---|---|---|---|---|---|---| |NOTES TO THE ACCOUNTS|||- continued|||| |FOR|THE YEAR ENDED|5 APRIL 2022||||| |3.|BENEFITS||||2022|2021| ||||||E|E| ||Magnus
Church|of England School: General||Grant|8,400|8,400| ||Grants to pupils: 24||x f250 (2021.18 x6250)||6,000|4,500| ||Music Tuition
Grant||||27,122|28,095| ||Newark Team PCC —Choral scholarships||||~6822|~4900| ||||||~4344|4~5895| |4.|MUSICAL AND SPORT EDUCATION||||2022|2021| ||||||E|E| ||Song School Master||Grant||30,500|30,500| ||Piano Grant|||||| ||Rowing Grant||||~10000|6 120| ||||||4~0500|~36620| |5.|RESTRICTED FUNDS||- GRANTS PAYABLE||2022|2021| ||||||f|E| ||Non-Education|Accounts||||| ||St Mary Magdalene||Church|||| ||Choristers
and|Low|Boys (2/9)||13137|10,763| ||Parish
Clerk, Sexton||and Vergers (2/9)||13,137|10,763| ||Repairs to Parish Church (2/9)||||~13136|10763| ||||||39,410|32,289| ||Newark
Hospital|||||| ||Newark
Hospital (3/9)||||19705
59115|16144
~48433| |6.|TANGIBLE
FIXED ASSETS||||Freehold|| ||||||Land and|| ||||||Buildings|Total| ||||||E|E| ||Deemed cost|||||| ||At 6 April 2021||||550,000|550,000| ||Additions|||||| ||At 5 April 2022||||~550 000|~550000| ||Depreciation|||||| ||At 6April 2021|||||| ||Charge for year|||||| ||At 5 April 2022|||||| ||Net book value|||||| ||At 5 April 2022||||~550000|~550000| ||At 5 April 2021||||~550000|~550 000| ## ## ## ## ## ## |9.|DEBTORS AND PREPAYMENTS:|DEBTORS AND PREPAYMENTS:|DEBTORS AND PREPAYMENTS:|DEBTORS AND PREPAYMENTS:|DEBTORS AND PREPAYMENTS:|DEBTORS AND PREPAYMENTS:||| |---|---|---|---|---|---|---|---|---| ||AMOUNTS
FALLING|||DUE||WITHIN ONE YEAR||| ||||||||2022|2021| ||||||||E|E| ||Value added|tax||||||555| ||Rents held by agents||||in arrears||81,710|81,819| ||Prepayments||||||3,776|7,544| ||Trentside
bond||||||5 375|5 375| ||||||||~90861|~95 293| |10.|CASH AT BANK AND||||IN HAND|||| ||||||||2022|2021| ||||||||E|f| ||Bank deposit|account|||||92,099|45,814| ||Bank current|account||||||(1,500)| ||COIF Charities|deposit|||fund account||179,475|179,474| ||Income account||||||6,288|5,900| ||Accumulation|of|income|||capital account||14| ||Estate maintenance|||fund||capital account||621| ||||||||~277 862|~230323| |11.|CREDITORS, ACCRUALS AND DEFERRED INCOME:|||||||| ||AMOUNTS
FALLING|||DUE||WITHIN ONE YEAR|2022|2021| ||||||||E|E| ||Accruals for|rants||a able||||| ||Non-Educational||Account|||grants|59,115|48,433| ||Educational
grants||||||27 122|| ||||||||~86237|~48433| ||Other creditors|||||||| ||Professional|fees|||||8,097|7,055| ||Repairs
Water|||||||1,202
718| ||Rates|||||||2,388| ||Rent deposits|due to|||tenants||7 975|7 975| ||||||||16072|19338| ||~d|||||||| ||Investment
management|||||fees|1,741|1,634| ||Electricity||||||600|600| ||Accountancy|and|compliance etc.||||4,000|4,000| ||Independent|examination|||||1,500|1,500| ||Bank charges||||||5|5| ||||||||7 846|~7739| ||Deferred income|||||||| ||Rentsin advance||||||30974|27 347| ||Taxation|||||||| ||Value added|tax|||||~3545|| ||||||||~144674|~102857| ## |ANALYSIS|OF|CHARITABLE|FUNDS|FUNDS|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Fund|||||||Revaluation|||Revaluation|||Fund|| ||||Balance|||||||gains/(losses)|||recognised|||Balance|| ||||Brought|||||Reagsed||for current|||in previous|||Canled|| ||||Forward
E||Income
6|Expenditure
6||gain/(loss)
E||year
f||end|years
6|Transfers
E||Forward
E|| |Fund name|||||||||||||||||| |Endowment|Funds||||||||||||||||| |Permanent|||2,855,586|||(6,887)||7,990||||625|(1,807)||-|2,855,507|| |Investment|properties||||||||||||||||| |revaluation||||0367||||||2||000||||3575|367| ||||590||||887||0|52||2|1807||||$74| |Restricted Income Funds|||||||||||||||||| |Non-Education||account||||(59,115)||||||||59,115|||| |Old Magnuslans||Association||758||||||||||(758)|||| |Scholarship|Fund||||||||||||||||| ||||||||115|||||||8|357||| |Unrestricted|Income Funds||||||||||||||||| |General Account|||||232,090|(74,449)||||||||(157,641)|||| |Designated|—Estate||||||||||||||||| |Maintenance||Fund||5,523||||||||(244)||||5,279|| |Designated|—Education||||||||||||||||| |Account|||448 756|||97|||||4 678|||99|28|454|868| ||||45|27|232 090|2|299||||44||||57|460|1| ||||6360990||232 090|238|301|7990||530 059|||1807|||69$1|021| ## ## ## ## ## ## ## |||||c~ru|c~ru|ca,|ca,|2||||||||||||N|N||||||||||t|||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||ci|«i|||||||||||||||||||||||||||||| |||||||Z||||||||||||||||||||||||||||| ||||||||m
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