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2020-08-31-accounts

Legal and administrative
details		 Legal and administrative
details
Trustee's
report
Independent
auditors'		 report
Statement offinancial activities
Balance sheet
Notes to the financial statements

Permanent Total Total
Unrestricted Restdcted Endowment Funds Funds
Note Funds
E		 Funds
E		 Funds 2020
E		 2019
E
Income and endowments from:
Donations
from the Trustee
Investments:		 50,000 50,000 48,333
Investment
income
Investment
property
Charitable
activities:		 2 24,700
2,042		 69,775 94,475
2,042		 88,564
1,420
School buildings
contributions
Other income:		 50,000 50,000 50,000
Other 225 225
Total return allocated to income 2 33,305 36,470 (69,775)
160,272 36,470 196,742 188,317
Expenditure
on:
Raising funds
Charitable
activities:		 28,690 28,690 33,884
Donations
and grants
Other costs		 121,497
58,219		 36,923 121,497
95,142		 69,723
83,091
3 208,406 36,923 245,329 186,698
Net (expenditure)/income before
gains on investments (48,134) 36,470 (36,923) (48,587) 1,619
Net (losses)/gains
on investments		 5 (9,766) 110,697 100,931 561,311
Net (expenditure)/income (57,900) 36,470 73,774 52,344 562,930
Transfers
between
funds		 12 (469,345) 469,345
Net movement
in funds		 (527,245) 36,470 543,119 52,344 562,930
Reconciliation
of Funds:
Total funds
brought
forward		 558,215 71,656 4,142,040 4,771,911 4,208,981
Total funds carried forward 12 30,970 108,126 4,685,159 4,824,255 4,771,911

Permanent Total Total
Unrestricted Restricted Endowment Funds Funds
Funds Funds Funds 2020 2019
Note E E E 6
Income and endowments from:
Donations
from the Trustee		 50,000 50,000 48,333
Donation
from subsidiary		 company 465,678 465,678
Investments:
Investment
income		 2 24,700 69,775 94,475 88,564
Investment
property		 2,042 2,042 2,013
Interest due from subsidiary
company 975 975 975
Charitable
activities'
School buildings
contributions		 50,000 50,000 50,000
Other income:
Other 225 225
Total return allocated to income 33,305 36,470 (69,775)
161,247 36,470 465,678 663,395 189,885
Expenditure
on:
Raising funds 29,828 29,828 27,914
Charitable
activities:
Donations
and grants		 121,497 121,497 69,723
Other costs 58,056 36,923 94,979 83,091
3 209,381 36,923 246,304 180,728
Net (expenditure)/income before
gains on investments (48,134) 36,470 428,755 417,091 9,157
Net (losses)/gains
on investments		 5 (9,766) 110,697 100,931 59,458
Net (expenditure)/income (57,900) 36,470 539,452 518,022 68,615
Transfers
between funds		 12 (3,667) 3,667
Net movement
in funds		 (61,567) 36,470 543,119 518,022 68,615
Reconciliation
of Funds:
Total funds
brought
forward		 92,537 71,656 4,142,040 4,306,233 4,237,618
Total funds carried forward 12 30,970 108,126 4,685,159 4,824,255 4,306,233

Group Charity Charity
2020 2019 2020 2019
Note (restated)
6		 6 (restated)
Fixed assets
Tangible assets 4 1,552,410 1,589,333 1,552,410 1,589,333
Investments 5 3,622,069 3,430,138 3,622, 069 3,430, 138
Investment
in subsidiary		 company 13 23,662 35,000
Loan to subsidiary company 13 24,375 24,375
5,174,479 5,019,471 5,222,516 5,078,846
Current assets
Debtors: amounts receivable within one year 7 255,195 214,415 41,062 51,985
Investments:
deposits		 442,300 93,700 442,300 93,700
Cash at bank 12,707 4,650 4,650
Debtors: amount
receivable		 after more than
one year 214,133
710,202 526,898 483,362 150,335
Liabilities
Creditors: amounts falling due within one year 9 (887,926) (189,358) (709,123) (337,848)
Net current (liabilities)/assets (177,724) 337,540 (225,761) (187,513)
Total assets less current liabilities 4,996,755 5,357,011 4,996,755 4,891,333
Creditors: amounts falling due after more than
one year 10 (172,500) (585,100) (172,500) (585,100)
Total net assets 4,824,255 4,771,911 4,824,255 4,306,233
The Funds ofthe Charity:
Permanent
endowment		 funds 12 4,685,159 4,142,040 4,685,159 4,142,040
Restricted funds 12 108,126 71,656 108,126 71,656
Unrestricted
funds		 12 30,970 558,215 30,970 92,537
Total Charity
Funds		 4,824,255 4,771,911 4,824,255 4,306,233

INVESTMENT INCOME
Unrestricted Restricted Total Total
Funds Funds 2020 2019
E. E E E
Interest receivable 24,700 24,700 20,368
Distributions
from Haberdashers'
Investment
Pool		 Charities 33,305 36,470 69,775 68,196
Total —Charity
and Group		 58,005 36,470 94,475 88,564
ANALYSIS OF EXPENDITURE
Charitable Raising Govern- Total Total
activities funds 2020 2019
E E F E
Costs directly allocated to
activities
Insurance
of School buildings
Less: insurance
paid by School
Depreciation
of School buildings
Grants to School
Grants to other institutions		 10,111
(10,517)
36,923
121,498		 10,111
(10,517)
36,923
121,498		 9,190
(8,847)
36,923
67,077
2,646
Property advice and management
fees
Legal fees and professional
advice
Loan interest		 1,346
17,144		 26,114 1,346
26,114
17,144		 930
13,897
20,261
Impairment
of investment
of
subsidiary
company		 11,338 11,338
Support costs
Allocated
direct		 69 6,736
Allocated
on the basis of staff time;
Staff costs
Service charges
25,300
4,009		 2,563
406		 27,863
4,415		 27,582
4,333
Total expenditure
—Charity		 187,324 29,828 29,152 246,304 180,728
Other expenditure
—subsidiary
company
Consolidation
adjustment		 10,200
(11,338)
163		 10,363
(11,338)		 5,970
Total expenditure
-Group		 187,324 28,690 29,315 245,329 186,698

Charity's
audi		 tors
(including
VAT):
Group
2020		 2019 Charity
2020		 2019
E E' E F
Audit fees 9,516 5,670 9516 5 670
Tax advisory services 10,200 5,970
Total —Charity and Group 19,716 11,640 9,516 5,670

TANGIBLE ASSETS —C HARITY AND GROUP
Not
Freehold
Land and Buildings		 subject to
replacement		 Total
E
Cost
Boarding
House
Longford
Hall
Land at rear of Lloyds Bank Pic
Reinstallation
ofstaircase
in School House
Wood Centre —classroom
block
Coach House
Beaumaris
Hall
Qld alms house buildings		 1,570
66,608
1,295
30,000
350,173
140,000
904,750
369,500		 1,570
66,608
1,295
30,000
350,173
140,000
904,750
369,500
Balance at 31 August 2020 1,863,896 1,863,896
Depreciation
Balance at 31 August 2019
Charge for the year		 274,563
36,923		 274,563
36,923
Balance at 31 August 2020 311,486 311,486
Net book value —Charity
At 31 August 2020		 and Group 1,552,410 1,552,410
At 31 August 2019 1,589,333 1,589,333

5.
INVESTMENTS		 5.
INVESTMENTS
Unrestricted Permanent Group
Funds Endowment Total
(restated) Funds (restated)
F 8
Freehold
investment
property
Market value at 1 September 2019 115,500 115,500
Market value at 31 August 2020 115,500 115,500
Haberdashers' Charities
Investment		 Pool
Market value at 1 September 2019 2,929,603 2,929,603
Unrealised
gain		 110,697 110,697
Market value at 31 August 2020 3,040,300 3,040,300
Diversified
Property
Fund for Charities
Market value at 1 September 2019 270,535 270,535
Unrealised
loss		 (1,528) (1,528)
Market value at 31 August 2020 269,007 269,007
Property
Income Trust for Charities
Market value at 1 September 2019 114,500 114,500
Increase
in investment
cash		 91,000 91,000
Unrealised
loss		 (8,238) (8,238)
Market value at 31 August 2020 197,262 197,262
Total market value at 31 August 2020 466,269 3,155,800 3,622,069
Total market value at 31 August 2019 385,035 3,045,103 3,430,138

endowment
fund. N		 ew e ndowment
gifts totalli		 ng 8984,559 have been receive d since the base date.
Trust Unapplied
for Total Total Total
investment Return 2020 2019
E 8 F
Trust for investment at 1 September 2019 1,822,953 1,106,650 2,929,603 2,877,988
Investment
returns:
Investment
income
Realised and unrealised
gains
Transfer to trust for application		 69,775
110,697
(69,775)		 69,775
110,697
(69,775)		 68,196
51,615
(68,196)
Trust for investment at 31August 2020 1,822,953 1,217,347 3,040,300 2,929,603

Group
2020		 2019 Charity
2020		 2019
E 6 6
Interest receivable
Rents receivable
Investment
income
Prepayments
Due from subsidiary
Shuker Field —sale
Other debtors and		 company
proceeds
prepayments		 3,418
1,517
3,953
1,657
214,133
30,517		 3,342
432
8,976
8,464
188,200
5,000		 3,418
1,517
3,953
1,657
30,517		 3,342
432
8,976
8,464
25,770
5,000
255,195 214,414 41,062 51,984

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Charity
2020 2019 2020 2019
E E E E
Purchase
of alms house		 92,375 92,375 92,375 92,375
Bank loan 412,600 46,000 412,600 46,000
Loan from the Haberdashers Operating
Company
Bank overdraft		 289,800 111,302
Grants to beneficiaries 6,795 6,795 6,795 6,795
Loan interest accrued 941 1,240 941 1,240
Deferred income 4,167 4,167 4,167 4,167
Due to subsidiary
company
Other creditors and accruals		 81,248 38,781 80,943 148,490
38,781
887,926 189,358 709,123 337,848

Group
2020		 2019 Charity
2020		 2019
E E
Bank loan repayable
1 to 2 years
2 to 5 years
More than 5 years		 as follows; 46,000
126,500		 412,600
138,000
34,500		 46 000
126,500		 412600
138,000
34,500
172,500 585,100 172,500 585,100

Permanent
Subsidiary Unrestricted Restricted Endowment Total
Company Funds
8		 Funds Funds Funds
6
Tangible assets
Fixed asset investments		 466,269 1,552,410
3,155,800		 1,552,410
3,622,069
Investment
in subsidiary
Net current assets/(liabilities)
Creditors due after more than		 (59,375)
48,037		 (286,461)
(137,500)		 108,126 59,375
(47,426)
(35,000)		 (177,724)
(172,500)
one year
(11,338) 42,388 108,126 4,685,159 4,824,255

Net
Balance Expend- investment Net Balance
31August
2019
E		 Income iture gains/
(losses)		 transfers 31 August
2020
5
Unrestricted
Funds
General
fund
Designated
school fund		 (a) 35,319
57,218		 111,247
50,000		 (191,376)
(6,667)		 (9,766) (3,667) (54,576)
96,884
Unrestricted —Charity
Subsidiary
company		 92,537
465,678		 161,247
(975)		 (198,043)
(10,363)		 (9,766) (3,667)
(465,678)		 42,308
(11,338)
Unrestricted
—Group		 558,215 160,272 (208,406) (9,766) (469,345) 30,970
Restricted
Funds
Annual
Payments
Fund (b)
Governors'
Fund (c)
School Maintenance
Fund (d)		 7,788
63,868		 36,470 7,788
100,338
71,656 36,470 108,126
Endowment
Funds
Permanent
Endowment		 (e) 2,610,801 (36,923) 52,838 469,345 3,096,061
Second Permanent
Endowment
(f)		 1,531,239 57,859 1,589,098
4,142,040 (36,923) 110,697 469,345 4,685,159
Total Charity Funds 4,771,911 196,742 (245,329) 100,931 4,824,255

TRADING SUBSIDIARY
Share
Name capital Activities
E
Adams
Newport
Limited
(Company
number 6702065)		 23,662 To hold investment property.
A summary
oftrading
results and balance		 sheet are shown below:
2020 2019
6 6
Turnover
(rental income)
Administration
expenses		 (10,363) (593)
(5,970)
Operating
loss
Interest payable		 (10,363)
(975)		 (6,563)
(975)
Retained
loss before gain on investment		 and distributions (11,338) (7,538)
Net gain on investment 501,853
Distribution (465,678)
Retained
(loss)/profit		 (477,016) 494,315
Current assets 338,142 550,823
Creditors
falling due within one year
Secured
loan from the Charity		 (290,105)
(24,375)		 (25 770)
(24,375)
Net assets 23,662 500,678

Unrestricted Restricted Permanent Total
Funds Funds Endowment Funds
Funds 2019
F K E
Income and endowments from:
Donations
and legacies		 48,333 48,333
Investments:
Investment
income		 50,274 38,290 88,564
Investment
property		 1,420 1,420
Charitable
activities:
School buildings
contributions		 50,000 50,000
150,027 38,290 188,317
Expenditure
on:
Cost of raising
funds		 33,884 33,884
Charitable
activities
Donations
and grants
Other costs		 67,077
9,112		 2,646
37,056		 36,923 69,723
83,091
110,073 39,702 36,923 186,698
Net income before gains
investments
and tangible		 on
investments		 39,954 (1,412) (36,923) 1,619
Net gains on investments 509,696 51,615 561,311
Net income 549,650 (1,412) 14,692 562,930
Transfers
between
funds		 (3,667) 3,667
Net movement
in funds		 545,983 (1,412) 18,359 562,930
Reconciliation
of Funds:
Fund balances
brought		 forward 12,232 73,038 4,123,681 4,208,981
Fund balances carried forward 558,215 71,656 4,142,040 4,771,911

CHARITY STATEMENT O F FINANCIAL ACTIVITIES FO R THE YEAR ENDED 31 AU GUST 2019
Permanent Total
Unrestricted Restricted Endowment Funds
Funds Funds Funds 2019
6 6 6
Income and endowments from:
Donations
from the Trustee		 48,333 48,333
Investments:
Investment
income
Investment
property
Interest due from subsidiary		 company 50,274
2,013
975		 38,290 88,564
2,013
975
Charitable
activities:
School buildings
contributions		 50,000 50,000
151,595 38,290 189,885
Expenditure
on:
Raising funds		 27,914 27,914
Charitable
activities:
Donations
and grants
Other costs		 67,077
9,112		 2,646
37,056		 36,923 69,723
83,091
104,103 39,702 36923 180728
Net income before gains
investments
and tangible		 on
investments		 47,492 (1,412) (36,923) 9,157
Net gains on investments 7,843 51,615 59,458
Net income/(expenditure) 55,335 (1,412) 14,692 68,615
Transfers
between
funds		 (3,667) 3,667
Net movement
in funds		 51,668 (1,412) 18,359 68,615
Reconciliation
of Funds:
Fund balances
brought
forward		 40,869 73,068 4,123,681 4,237,618
Fund balances carried forward 92,537 71,656 4,142,040 4,306,233

Charitable Raising Govern-
activities funds ance 2019
E 8 6 6
Costs directly allocated to
activities
Insurance
ofSchool buildings
Less: insurance
paid by School
Depreciation
ofSchool buildings		 9,190
(8,847)
36,923		 9,190
(8,847)
36,923
Grants to School 67,077 67,077
Grants to other institutions 2,646 2,616
Property advice and management
fees 930 930
Legal fees and professional advice 13,897 13,897
Loan interest
Support costs		 20,261 20,261
Allocated direct
Allocated
on the basis of staff time:		 6,723 13 6,736
Staff costs
Service charges		 24,520
3,852		 3,062
481		 27,582
4,333
Total expenditure
—Charity		 135,361 27,914 17,453 180,728
Other expenditure
—subsidiary
company 5,970 5,970
Total expenditure
-Group		 135,361 33,884 17,453 186,698

Unrestricted Permanent Group
Subsidiary Funds Endowment Total
Company (restated) Funds (restated)
6 6 E 6
Freehold
investment
property
Market value at 1 September 2018 58,381 115,500 173,881
Disposal —Shuker
Field		 (58,381) (58,381)
Market value at 31 August 2019 115,500 115,500
Haberdashers' Charities
Investment		 Pool
Market value at 1 September 2018 2,877,988 2,877,988
Unrealised
gain		 51,615 51,615
Market value at 31 August 2019 2,929,603 2,929,603
Diversified
Property
Fund for Charities
Market value at 1 September 2018 247,692 247,692
Increase
in investment
cash		 15,000 15,000
Unrealised
gain		 7,843 7,843
Market value at 31 August 2019 270,535 270,535
Property
Income Trust for Charities
Market value at 1 September 2018 65,500 65,500
Increase
in investment
cash		 49,000 49,000
Market value at 31 August 2019 114,500 114,500
Total market value at 31 August 2019 385,035 3,045,103 3,430,138
Total market value at 31 August 2018
(restated) 58,381 247,692 2,993,488 3,299,561

ANALYSIS
2019		 OF GROUP NET A SSETS BETW EEN FUNDS F OR THE YE AR ENDED 3 1AUGUST
Permanent Total
Subsidiary
Company		 Unrestricted
Funds		 Restricted
Funds		 Endowment
Funds		 Funds
Restated
8 E 8
Tangible assets
Fixed asset investments		 385,035 1,589,333
3,045,103		 1,589,333
3,430, 138
Investment
Net current		 in subsidiary
(liabilities)/assets		 (59,375)
525,053		 (118,331) 71,656 59,375
(140,838)		 337,540
Creditors
due after more than
one year		 (214,133) (174,167) (410,933) (585,100)
465,678 92,537 73,068 4,142,040 4,771,911

Balance Net Balance
31 August
2018		 Income Expend-
iture		 investment
gains		 Net
transfers		 31August
2019
E E F F F E
Unrestricted
Funds
General
fund
Designated
school fund		 27,476
13,393		 95,469
56,126		 (95,469)
(8,634)		 7,843 (3,667) 35,319
57,218
Unrestricted
—Charity
Subsidiary
company		 40,869
(28,637)		 151,595
(1,568)		 (104,103)
(5,970)		 7,843
501,853)		 (3,667) 92,537
465,678
Unrestricted
—Group		 12,232 150,027 (110,073) 509,696 (3,667) 558,215
Restricted Funds
Annual
Payments
Fund
Governors'
Fund
School Maintenance
Fund		 7,788
65,280		 2,646
35,644		 (2,646)
(37,056)		 7,788
63,868
73,068 38,290 (39,702) 71,656
Endowment
Funds
Permanent
Endowment		 2,619,420 (36,923) 24,637 3,667 2,610,801
Second Permanent
Endowment		 1,504,261 26,978 1,531,239
4,123,681 (36,923) 51,615 3,667 4,142,040
Total Charity Funds 4,208,981 188,317 (186,698) 561,311 4,771,911