2022-08-31-accounts - Haberdasher's Adams' Grammar School Charity

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Legal and administrative details	Legal and administrative details	Legal and administrative details	Legal and administrative details
Trustee's report
Independent auditors'		report
Group statement	offinancial		activities
Charity statement	of	financial	activities	12
Balance sheets				13

					Permanent	Total	Total
			Unrestricted	Restricted	Endowment	Funds	Funds
			Funds	Funds	Funds	2022	2021
		Note	6	6	6	6	K
Income and endowments	from:
Donations from the Trustee			50,000			50,000	30,000
Investments:
Investment income			21,306		80,292	101,598	97,695
Rental income			2,066			2,066	2,031
Charitable activities:
School buildings contributions			50,000			50,000	50,000
Other income:
Other
Total return allocated to	income		38,353	41,939	(80,292)
			161,725	41,939		203,664	179,726
Expenditure on: Raising funds			4,046			4,046	21,711
Charitable activities:
Donations and grants Other costs			42,644 44,554		36,923	42,644 81,477	98,380 104,874
		3	91,244		36,923	128,167	224,965
Net income/(expenditure) gains on investments	before		70,481	41,939	(36,923)	75,497	(45,239)
Net gains on investments		5	74,595		(197,693)	(123,098)	534,640
Net income/(expenditure)			145,076	41,939	(234,616)	(47,601)	489,401
Transfers between funds		11	(3,667)		3,667
Net movement in funds			141,409	41,939	(230,949)	(47,601)	489,401
Reconciliation of Funds:
Total funds brought forward			72,810	82,175	5,158,671	5,313,656	4,824,255
Total funds carried forward		11	214,219	124,114	4,927,722	5,266,055	5,313,656

					Permanent	Total	Total
			Unrestricted	Restricted	Endowment	Funds	Funds
			Funds	Funds	Funds	2022	2021
		Note	E	E	E	E	E
Income and endowments	from:
Donations from the Trustee			50,000			50,000	30,000
Investments:
Investment income			21,306		80,292	101,598	97,695
Rental income			2,066			2,066	2,031
Interest due from subsidiary company							975
Charitable activities:
School buildings contributions			50,000			50,000	50,000
Other income:
Total return allocated to	income		38,353	41,939	(80,292)
			161,725	41,939		203,664	180,701
Expenditure on: Raising funds			5,786			5,786	24,246
Charitable activities:
Donations and grants Other costs			42,644 42,814		36,923	42,644 79,737	98,380 103,314
		3	91,244		36,923	128,167	225,940
Net income/(expenditure)	before
gains on investments			70,481	41,939	(36,923)	75,497	(45,239)
Net gains on investments		5	74,595		(197,693)	(123,098)	534,640
Net income/(expenditure)			145,076	41,939	(234,616)	(47,601)	489,401
Transfers between funds		11	(3,667)		3,667
Net movement in funds			141,409	41,939	(230,949)	(47,601)	489,401
Reconciliation of Funds:
Total funds brought forward			72,810	82,175	5,158,671	5,313,656	4,824,255
Total funds carried forward		11	214,219	124,114	4,927,722	5,266,055	5,313,656

						Group		Charity	Charity
						2022	2021	2022	2021
					Note
Fixed assets
Tangible assets Investments					4 5	1,478,564 3,954,610	1,515,487 4,005,709	1,478,564 3,954,610	1,515,487 4,005,709
Investment in subsidiary company Loan to subsidiary company					12 12	—	-	-	6,649 24,375
						5,433,174	5,521,196	5,433,174	5,552,220
Current assets
Debtors: amounts receivable Investments: deposits				within one year	7	65,566 42,300	43,388 42,300	65,566 42,300	43,388 42,300
Cash at bank						49,262	35,970	49,262
						157,128	121,658	157,128	85,688
Liabilities
Creditors: amounts	falling due within one year				8	(243,747)	(202,698)	(243,747)	(197,752
Net current liabilities						(86,619)	(81,040)	(86,619)	(112,064
Total assets less	current		liabilities			5,346,555	5,440,156	5,346,555	5,440,156
Creditors: amounts	falling		due after more than
one year					9	(80,500)	(126,500)	(80,500)	(126,500
Total net assets						5,266,055	5,313,656	5,266,055	5,313,656
The Funds ofthe	Charity:
Permanent endowment		funds			11	4,927,722	5,158,671	4,927,722	5,158,671
Restricted funds					11	124,114	82,175	124,114	82,175
Unrestricted funds					11	214,219	72,810	214,219	72,810
Total Charity Funds						5,266,055	5,313,656	5,266,055	5,313,656

INVESTMENT INCOME
						Total	Total
						2022	2021
						E	E
Interest receivable					21,306		21,217
Distributions from Haberdashers'		Charities	Investment	Pool	80,292		76,478
Total —Charity and Group					101,598		97,695
ANALYSIS OF EXPENDITURE
		Charitable		Raising	Govern-	Total	Total
		activities		funds	ance	2022	2021
			E	E		E	E
Costs directly allocated to
activities
Insurance ofSchool buildings			12,179			12,179	9,991
Less: insurance paid by School Depreciation ofSchool buildings Grants to School		(14,523) 36,923 42,644				(14,523) 36,923 42,644	(9,522) 36,923 98,380
Property advice and management fees				209		209	3,247
Legal fees and professional Loan interest	advice			3,837	13,067	13,067 3,837	34,416 3,986
Impairment of investment of subsidiary company				1,740		1,740	17,013
Support costs Allocated direct					324	324	72
Allocated on the basis ofstaff time:
Staff costs			24,757		2,998	27,755	27,654
Service charges			3,579		433	4,012	3,780
Total expenditure —Charity		105,559		5,786	16,822	128,167	225,940
Other expenditure —subsidiary company Consolidation adjustment				(1,740)	1,740 —	1,740 (1,740)	16,038 (17,013)
Total expenditure -Group		105,559		4,046	18,562	128,167	224,965

Expenditure on legal fees and professional advic Charity's auditors (including VAT):	e includes the	followin	g amounts paid to the	g amounts paid to the
	Group		Charity
	2022 6	2021 6	2022 5	2021 f
Audit fees —current year Audit fees —prior year Tax advisory services	8,190 4,240	9,360 5,364 4,929	8,190 4,240	9,360 5,364 3,369
Total —Charity and Group	12,430	19,653	12,430	18,093
TANGIBLE ASSETS —CHARITY AND GROUP
			2022	2021
Freehold Land and Buildings				6
Cost
Boarding House Longford Hall Land at rear of Lloyds Bank Pic Reinstallation ofstaircase in School House			1,570 66,608 1,295 30,000	1,570 66,608 1,295 30,000
Wood Centre —classroom block			350,173	350,173
Coach House			140,000	140,000
Beaumaris Hall			904,750	904,750
Old alms house buildings			369,500	369,500
Balance at 31 August 2022		1,863,896		1,863,896
Depreciation Balance at 31 August 2021 Charge for the year			348,409 36,923	311,486 36,923
Balance at 31 August 2022			385,332	348,409
Net book value —Charity and Group At 31 August 2022			1,478,564	1,515,487
At 31 August 2021			1,515,487	1,552,410

			Unrestricted	Permanent	Group
			Funds	Endowment	Total
				Funds
Freehold investment property
Market value at	1 September 2021			115,500	115,500
Market value at	31 August 2022			115,500	115,500
Haberdashers'	Charities Investment	Pool
Market value at	1 September 2021			3,547,068	3,547,068
Unrealised gain	(loss)			(197,693)	(197,693)
Market value at	31 August 2022			3,349,375	3,349,375
Diversified Property Fund for Charities
Market value at	1 September 2021		291,637		291,637
Increase in investment cash			50,000		50,000
Unrealised gain			62,794		62,794
Market value at	31 August 2022		404,431		404,431
Property Income Trust for Charities
Market value at	1 September 2021		51,504		51,504
Increase in investment cash			22,000		22,000
Unrealised Gain	(loss)		11,800		11,800
Market value at	31 August 2022		85,304		85,304
Total market value at 31 August 2022			489,735	3,464,875	3,954,610
Total market value at 31 August 2021			343,141	3,662,568	4,005,709

				Trust	Trust	Unapplied
				for		Total	Total	Total
				investment	f	Return E	2022 E	2021 6
Trust for investment		at 1	September 2021	1,822,953		1,724,115	3,547,068	3,040,300
Investment	returns:
Investment	income					80,292	80,292	76,478
Realised and unrealised			gains			(197,693)	(197,693)	506,768
Transfer to	trust for application					(80,292)	(80,292)	(76,478)
Trust for investment		at	31August 2022	1,822,953		1,526,422	3,349,375	3,547,068

	Group		Charity
	2022	2021	2022	2021
	6		6	6
Interest receivable	3,769	2,917	3,769	2,917
Rents receivable	463	432	463	432
investment income	7,787	5,657	7,787	5,657
Prepayments Other debtors and prepayments	17,012 36,535	1,842 32,540	17,012 36,535	1,842 32,540
	65,566	43,388	65,566	43,388

CREDITORS: AMOUNTS FALLING DUE WIT	HIN ONE YEAR
	Group		Charity
	2022	2021	2022	2021
	6
Purchase of alms house	92,375	92,375	92,375	92,375
Bank loan	46,000	46,000	46,000	46,000
Loan interest payable to the Haberdashers Operating Company Bank overdraft		14,478		11,092
Grants to beneficiaries	6,795	6,795	6,795	6,795
Loan interest accrued	801	306	801	306
Deferred income	4,166	4,167	4,166	4, 167
Other creditors and accruals	93,610	38,577	93,610	37,017
	243,747	202,698	243,747	197,752

		Group 2022	2021	Charity 2022	2021
			8
Bank loan repayable 1 to 2 years 2 to 5 years	as follows:	46,000 34,500	46,000 80,500	46,000 34,500	46,000 80,500
		80,500	126,500	80,500	126,500

ANALYSIS OF GROUP NET	ASSETS BET	WEEN FUNDS
				Permanent
	Subsidiary	Unrestricted	Restricted	Endowment	Total Funds
	Company	Funds	Funds	Funds	E
	E
Tangible assets Fixed asset investments		489,734		1,478,564 3,464,876	1,478,564 3,954,610
Net current assets/(liabilities)		(193,776)	124,114	615	(69,047)
Creditors due after more than		(64,167)		(16,333)	(80,500)
one year
		231,791	124,114	4,927,722	5,283,627

		Balance	Income	Expend-	Net	Net	Balance
		31August		iture	investment	transfers	31 August
		2021			gains/		2022
		E		E	(losses)		E
					E
Unrestricted Funds
General fund Designated school fund (a)		(37,457) 138,618	111,725 50,000	(85,666) (3,838)	74,595	(63,197) 29,439	214,219
Unrestricted —Charity		101,161	161,725	(89,504)	74,595	(33,758)	214,219
Subsidiary company		(28,351)		(1,740)		30,091
Unrestricted —Group		72,810	161,725	(91,244)	74,595	(3,667)	214,219
Restricted Funds
Annual Payments Fund (b) Governors' Fund (c) School Maintenance Fund (d)		7,788 74,387	41,939				7,788 116,326
		82,175	41,939				124,114
Endowment Funds
Permanent Endowment	(e)	3,304,697		(36,923)	(94,363)	3,667	3,177,078
Second Permanent
Endowment (f)		1,853,974			(103,330)		1,750,644
		5,158,671		(36,923)	(197,693)		4,927,722
Total Funds —Group Charity	and	5,313,656	203,664	(128,167)	(123,098)		5,266,055

			Unrestricted	Restricted	Permanent	Total
			Funds	Funds	Endowment	Funds
					Funds	2021
					6
Income and endowments		from:
Donations from the Trustee			30,000			30,000
Investments:
Investment income			21,217		76,478	97,695
Investment property			2,031			2,031
Charitable activities:
School buildings contributions			50,000			50,000
Other income:
Other
Total return allocated	to	income	36,477	40,001	(76,478)
			139,725	40,001		179,726
Expenditure on: Cost of raising funds			21,711			21,711
Charitable activities Donations and grants Other costs			32,428 67,951	65,952	36923	98,380 103314
			122,090	65,952	36,923	224,965
Net (expenditure)/income		before gains
on investments and tangible			17,635	(25,951)	(36,923)	(45,239)
investments
Net (losses)/gains on	investments		27,872		506,768	534,640
Net income/(expenditure)			45,507	(25,951)	469,845	489,401
Transfers between funds			(3,667)		3,667
Net movement in funds			41,840	(25,951)	473,512	489,401
Reconciliation of Funds:
Fund balances brought	forward		30,970	108,126	4,685,159	4,824,255
Fund balances carried	forward		72,810	82,175	5,158,671	5,313,656

				Permanent	Total
		Unrestricted	Restricted	Endowment	Funds
		Funds	Funds	Funds	2021
		E		E	6
Income and endowments	from:
Donations from the Trustee		30,000			30,000
Investments:
Investment income		21,217		76,478	97,695
Rental income		2,031			2,031
Charitable activities:
School buildings contributions		50,000			50,000
Other income:
Other
Total return allocated to	income	36,477	40,001	(76,478)
		139,725	40,001		179,726
Expenditure on: Raising funds		21,711			21,711
Charitable activities:
Donations and grants Other costs		32,428 67,951	65,952	36,923	98,380 104,874
		122,090	65,952	36,923	224,965
Net income (expenditure) gains on investments	before	17,635	(25,951)	(36,923)	(45,239)
Net gains on investments		27,872		506,768	534,640
Net income/(expenditure)		45,507	(25,951)	469,845	489,401
Transfers between funds		(3,667)		3,667
Net movement in funds		41,840	(25,951)	473,512	489,401
Reconciliation of Funds:
Total funds brought forward		30,970	108,126	4,685,159	4,824,255
Total funds carried forward		72,810	82,175	5,158,671	5,313,656

		Charitable	Raising	Govern-	Total
		activities	funds	ance f	2021 f
Costs directly allocated to
activities
Insurance ofSchool buildings		9,991			9,991
Less: insurance paid by School Depreciation ofSchool buildings Grants to School		(9,522) 36,923 98,380			(9,522) 36,923 98,380
Property advice and management fees			3,247		3,247
Legal fees and professional Loan interest	advice		3,986	34,416	34,416 3,986
Impairment of investment of subsidiary company			17,013		17,013
Support costs Allocated direct				72	72
Allocated on the basis of staff time:
Staff costs		25,110		2,544	27,654
Service charges		3,432		348	3,780
Total expenditure —Charity		164,314	24,246	37,380	225,940
Other expenditure —subsidiary company Consolidation adjustment			14,478 (17,013)	1,560 -	16,038 (17,013)
Total expenditure -Group		164,314	21,711	38,940	224,965

18, INVESTMENTS FOR THE YEAR ENDED 31AUGUST 2021	18, INVESTMENTS FOR THE YEAR ENDED 31AUGUST 2021	18, INVESTMENTS FOR THE YEAR ENDED 31AUGUST 2021
		Unrestricted	Permanent	Group
		Funds	Endowment	Total
			Funds
Freehold investment property
Market value at	1 September 2020		115,500	115,500
Market value at	31 August 2021		115,500	115,500
Haberdashers'	Charities Investment	Pool
Market value at	1 September 2020		3,040,300	3,040,300
Unrealised gain			506,768	506,768
Market value at	31 August 2021		3,547,068	3,547,068
Diversified Property Fund for Charities
Market value at	1 September 2020	269,007		269,007
Unrealised gain		22,630		22,630
Market value at	31 August 2021	291,637		291,637
Property Income Trust for Charities
Market value at	1 September 2020	197,262		197,262
(Decrease) in investment cash		(151,000)		(151,000)
Unrealised Gain	(loss)	5,242		5,242
Market value at	31August 2021	51,504		51,504
Total market value at 31 August 2021		343,141	3,662,568	4,005,709
Total market value at 31 August 2020		466,269	3,155,800	3,622,069

ANALYSI 2021	S	OF GROUP NET A	SSETS BETW	EEN FUNDS	FOR THE YE	AR ENDED 3	1AUGUST
						Permanent
			Subsidiary	Unrestricted	Restricted	Endowment	Total
			Company	Funds	Funds	Funds	Funds
			E	8	E		E
Tangible assets						1,515,487	1,515,487
Fixed asset		investments		343,141		3,662,568	4,005,709
Investment		in subsidiary	(59,375)			59,375
Net current		assets/(liabilities)	31,024	(141,147)	82,175	(53,092)	(81,040)
Creditors	due after more than			(100,833)		(25,667)	(126,500)
one year
			(28.351)	101,161	82,175	5,158,671	5,313,656

					Net
		Balance		Expend-	investment	Net	Balance
		31August	Income	iture	gains/	transfers	31August
		2020			(losses)		2021
		E			F		E
Unrestricted Funds
General fund Designated school fund	(a)	(54,576) 96,884	90,700 50,000	(101,453) (4,599)	27,872	(3,667)	(37,457) 138,618
Unrestricted —Charity		42,308	140,700	(106,052)	27,872	(3,667)	101,161
Subsidiary company		(11,338)	(975)	(16,038)			(28,351)
Unrestricted —Group		30,970	139,725	(122,090)	27,872	(3,667)	72,810
Restricted Funds
Annual Payments Fund (b) Governors' Fund (c) School Maintenance Fund (d)		7,788 100,338	40,001	(65,952)			7,788 74,387
		108,126	40,001	(65,952)			82,175
Endowment Funds
Permanent Endowment	(e)	3,096,061		(36,923)	241,892	3,667	3,304,697
Second Permanent
Endowment (f)		1,589,098			264,876		1,853,974
		4,685,159		(36,923)	506,768	3,667	5,158,671
Total Charity Funds		4,824,255	179,726	(224,965)	534,640		5,313,656