Charity Registration No. 528713
TANWORTH EDUCATIONAL FOUNDATION
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
TANWORTH EDUCATIONAL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | V A Hake |
|---|---|
| R King | |
| S Hipkiss | |
| R Muntz | |
| J W H Brown | |
| S Jones | |
| D Burgess | |
| P Pope | |
| Charity number | 528713 |
| Registered office | The Old Workhouse |
| Well Lane | |
| Tanworth in Arden | |
| Solihull | |
| West Midlands | |
| B94 5AH | |
| Independent Examiner | RSM UK Tax and Accounting Limited |
| Chartered Accountants | |
| St Philips Point | |
| Temple Row | |
| Birmingham | |
| West Midlands | |
| B2 5AF | |
| Bankers | Lloyds TSB Plc |
| 22 Bridge Street | |
| Stratford-on-Avon | |
| CV37 6AG | |
| Solicitors | Lodders |
| Elm Court | |
| Arden Street | |
| Stratford-on-Avon | |
| CV37 6PA |
TANWORTH EDUCATIONAL FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Investment Managers
Barclays Wealth 1 Colmore Square Birmingham B4 6AA
M & G Investments M & G Charities PO Box 9038 Chelmsford CM99 2XF CCLA Investment Management Limited COIF Charity Funds 80 Cheapside London EC2V 6DZ
TANWORTH EDUCATIONAL FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
Objectives and activities
The object of the Charity is to “promote and advance the education of boys and girls in the parish of Tanworth and to serve other charitable uses”. The above purposes are principally served by the Trustees maintaining and improving the properties owned by the Charity and giving grants to the schools situated in Tanworth in Arden and on Salter Street, Earlswood.
The income of the Charity consists of dividends and interest from quoted securities, M & G Charifund Units and the Charities Official Investment Fund. The Charity also has investment properties from which rent is received.
The Trustees approve grants as they think fit that further the objects of the charity, acting within the terms of
the Trust Deed which governs the charity.
Achievements and performance
Income generated has been distributed to support additional teaching personnel at Tanworth and Salter Street Schools.
Financial review
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Total income for 2020 was £76,864 (2019: £68,458) derived from investment income.
Income generated has been distributed to support additional teaching personnel at Tanworth and Salter Street
Schools.
At the end of the year, the Charity had total net assets of £3,433,654 compared with £3,508,221 at the end of 2019. This decrease in total net assets of the trust of £74,567 was made up as follows:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Net deficit on activities in the year | (26,533) | (12,045) |
| (Decrease)/Increase in value of investments during the year | (48,034) | 115,486 |
| ─────── | ─────── | |
| Decrease)/Increase in total net assets during the year | (74,567) | 103,441 |
| ════════ | ════════ |
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TANWORTH EDUCATIONAL FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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TANWORTH EDUCATIONAL FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TANWORTH EDUCATIONAL FOUNDATION
I report on the financial statements of the Charity for the year ended 31 December 2020, which are set out on pages 5 to 14.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.
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 reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
Paul Oxtoby (FCCA) RSM UK Tax and Accounting Limited Chartered Accountants St Philips Point Temple Row Birmingham West Midlands B2 5AF
21 October 2021
Dated: .........................
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TANWORTH EDUCATIONAL FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted Endowment funds funds Notes £ £ Income from: Investments 2 76,864 - Expenditure on: Raising funds 3 19,078 - Charitable activities 4 84,319 - Total resources expended 103,397 - Net (losses)/gains 6 - (48,034) Net movement in funds (26,533) (48,034) Total funds brought forward 84,149 3,424,072 Total funds carried forward 57,616 3,376,038 |
Total 2020 £ 76,864 19,078 84,319 103,397 (48,034) (74,567) 3,508,221 3,433,654 |
Total 2019 £ 68,458 |
|---|---|---|
| 24,193 | ||
| 56,310 | ||
| 80,503 | ||
| 115,486 | ||
| 103,441 3,404,780 |
||
| 3,508,221 |
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| 2020 | 2020 | 2019 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | mnriO £ |
|||
| Fixed assets | |||||||
| Tangibleassets | 7 | • • | 1,778,706 | ^0&nnoass, | 1,778,706 | ||
| Investment properties | 8 | 794,251 | .shnew'WItesW | 794^261 | |||
| Investments | 9 | 839,599 | 889,109 | ||||
| 3,412,556 | 3,462,066 | ||||||
| Current assets | |||||||
| Debtors | 10 | 3,841 | 9,242 | , | ,1 | ||
| Cashat bank and in hand | 33,901 | 39,951 | . | -^^ | |||
| 37,742 | 49,193 | o f | |||||
| Creditors: amounts falling due Nwithin | 11 | ||||||
| one year | (16,644) | (3,038) | |||||
| Net current assets | 21,098 | 46,155 | |||||
| Total assets less current liabilities | 3,433,654 | 3,508,221 | |||||
| Capital funds | |||||||
| Endowment funds | 13 | 3,376,038 | 3,424,072 | ||||
| Unrestricted funds | 14 | 57,616 | 84,149 | ||||
| 3,433,654 | 3,508,221 |
TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
Charity information
The Tanworth Educational Foundation is a charitable Trust registered in England.
The address of the Charity’s registered office is The Old Workhouse, Well Lane, Tanworth in Arden, Solihull, West Midlands, B94 5AH.
Accounting convention
The financial statements have been prepared in accordance with the Charity's trust deed, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). The Charity is a Public Benefit Entity as defined by FRS102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The trustees have considered, in the context of the Covid-19 pandemic, the going concern concept and any associated material uncertainties, the basis of any significant judgements and the matters to consider when confirming the preparation of the financial statements on a going concern basis and the trustees are comfortable that there are not any adjustments required. The trustees expect the charity to continue in operation for at least 12 months from the date of signing the financial statements.
Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
The endowment fund represents those assets which are treated as being held permanently by the charity, principally properties and investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. In addition any grants receivable to fund improvements are included as income of the endowment fund.
Incoming resources
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
The dividends and interest receivable represents the gross income receivable in respect of the investment assets plus the interest receivable on the COIF Deposit and the monies held by the Portfolio Manager.
The gross rents and ground rents represent the rent receivable on the Charity's investment properties.
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies (Continued)
Allocation of Investment Income
Investment income and net gains and losses are allocated over the funds in accordance with the balances on those funds.
Expenditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Expenditure on raising funds are those incurred in attracting voluntary income.
Charitable activities consist of the grants given to the schools at Tanworth in Arden and Salter Street, Earlswood.
Governance costs are included within support costs and comprise all costs involving the public accountability of the Charity and its compliance with regulations of good practice. These costs include costs related to independent examination and legal fees together with an apportionment of overheads and other support costs.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Tangible fixed assets
The properties owned and used for the purpose of the objects of the Charity have not been revalued. The cost of these properties is shown in the balance sheet at a figure that excludes the cost incurred to acquire or improve the property when incurred prior to 1 January 1962. The cost of any property acquired or improved post 1 January 1962 but pre 31 December 1995 only represents the Charity’s proportion of such cost where the balance is funded by the DfE. Any cost incurred post 1 January 1996 or in 1995 on projects ongoing in 1996, includes the total cost both to the Charity and outside funders.
No depreciation is charged in these financial statements in respect of properties used for charitable,purposes. It is the Charity’s policy to maintain these properties to a high standard to result in a residual value in line with cost and the costs of maintenance are charged in the statement of financial activities.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost and subsequently measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.
Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies (Continued)
Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost less any amounts settled.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price including transaction costs and are subsequently carried at amortised cost less any amounts settled.
Critical accounting estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider the valuation of the charity’s investment properties on an annual basis. The valuation of the investment properties is inherently subjective, and the trustees consider the location and expected future rental revenues among other factors in order to determine the value on an open market existing use basis.
2 Investments
| Dividends and interest receivable Gross rents and ground rents receivable |
2020 £ 31,223 45,641 76,864 |
2019 £ 34,324 34,134 |
|---|---|---|
| 68,458 |
Income relates to unrestricted funds £76,864 (2019: £68,458).
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
3 Raising funds
| Investment property expenses Property insurance Repairs Portfolio management fees |
2020 £ 2,612 15,019 17,631 1,447 19,078 |
2019 £ 2,465 20,149 |
|---|---|---|
| 22,614 | ||
| 1,579 | ||
| 24,193 |
Expenditure on raising funds relates to unrestricted funds £19,078 (2019: £24,193).
4 Charitable activities
| Insurance Grants payable to Tanworth in Arden School Grants payable to Salter Street School Clerks charges and expenses Professional charges (governance costs) |
2020 £ 760 32,765 38,000 5,000 7,794 84,319 |
2019 £ 851 34,889 13,000 2,700 4,870 |
|---|---|---|
| 56,310 |
Expenditure on charitable activities relates to unrestricted funds £84,319 (2019: £56,310).
Professional charges include fees payable to the independent examiner totalling £1,300 (2019: £1,200) and accountancy services totalling £1,580 (2019: £1,440).
5 Trustees Remuneration
The Trustees received no remuneration during the year (2019: £nil) and were not reimbursed for any of their expenses in the year (2019: £nil).
There were no employees of the trust during the year (2019: none).
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
6 Net gains/(losses) on investments
| Revaluation of investments (Loss)/gain on sale of investments |
2020 £ (47,911) (123) (48,034) |
2019 £ 115,323 163 |
|---|---|---|
| 115,486 |
Other recognised gains and losses relates to endowment funds £48,034 loss (2019: £115,486 gain).
7 Tangible fixed assets
| Tamworth in Arden School Salter Street School £ £ Cost At 1 January 2020 1,085,437 693,269 At 31 December 2020 1,085,437 693,269 Carrying amount At 31 December 2020 1,085,437 693,269 At 31 December 2019 1,085,437 693,269 |
Total £ 1,778,706 |
|---|---|
| 1,778,706 | |
| 1,778,706 | |
| 1,778,706 |
The cost of property acquired by the Trustees prior to 1 January 1962, and capital improvements carried out before that date, are not included in the balance sheet.
As a result of the above policies the balance sheet does not necessarily include all the costs incurred on the Charity’s properties.
8 Investment property
| Investment property | |
|---|---|
| 2020 | |
| £ | |
| Fair value | |
| At 1 January 2020 and 31 December 2020 | 794,251 |
The investment properties were revalued as at 31 December 2011 by the Trustees at an open market value of £794,251. The Trustees reviewed this valuation during the year ended 31 December 2020, and believe it to still be a true reflection of the value of the properties.
The cost of the investment properties as previously recorded in the financial statements of the Charity was £66,020. It is unlikely that this truly reflects the cost of the properties as costs incurred pre 1962 were not included in the financial statements.
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
9 Fixed asset investments
| Listed investments Monies held by portfolio manager £ £ £ Cost or valuation At 31 December 2020 887,541 1,568 Valuation changes (48,035) - Management fees - (1,475) Disposals (1,392) 1,392 At 31 December 2020 838,114 1,485 Carrying amount At 31 December 2020 838,114 1,485 At 31 December 2019 887,541 1,568 Listed investments at market value The listed investments can be broken down as follows:- 2020 £ Quoted securities managed by Barclays Wealth UK Equities 528,472 M. & G. Charifund Units 218,270 Charities' Official Investment Fund - Income units 91,372 Total 838,114 10 Debtors 2020 Amounts falling due within one year: £ Prepayments and accrued income 3,841 11 Creditors: amounts falling due within one year 2020 £ Accruals and deferred income 16,644 12 Financial instruments 2020 £ Carrying amount of financial assets Debt instruments measured at amortised cost 2,979 Equity instruments measured at market value 839,599 |
Listed investments Monies held by portfolio manager £ £ £ Cost or valuation At 31 December 2020 887,541 1,568 Valuation changes (48,035) - Management fees - (1,475) Disposals (1,392) 1,392 At 31 December 2020 838,114 1,485 Carrying amount At 31 December 2020 838,114 1,485 At 31 December 2019 887,541 1,568 Listed investments at market value The listed investments can be broken down as follows:- 2020 £ Quoted securities managed by Barclays Wealth UK Equities 528,472 M. & G. Charifund Units 218,270 Charities' Official Investment Fund - Income units 91,372 Total 838,114 10 Debtors 2020 Amounts falling due within one year: £ Prepayments and accrued income 3,841 11 Creditors: amounts falling due within one year 2020 £ Accruals and deferred income 16,644 12 Financial instruments 2020 £ Carrying amount of financial assets Debt instruments measured at amortised cost 2,979 Equity instruments measured at market value 839,599 |
Listed investments Monies held by portfolio manager £ £ £ Cost or valuation At 31 December 2020 887,541 1,568 Valuation changes (48,035) - Management fees - (1,475) Disposals (1,392) 1,392 At 31 December 2020 838,114 1,485 Carrying amount At 31 December 2020 838,114 1,485 At 31 December 2019 887,541 1,568 Listed investments at market value The listed investments can be broken down as follows:- 2020 £ Quoted securities managed by Barclays Wealth UK Equities 528,472 M. & G. Charifund Units 218,270 Charities' Official Investment Fund - Income units 91,372 Total 838,114 10 Debtors 2020 Amounts falling due within one year: £ Prepayments and accrued income 3,841 11 Creditors: amounts falling due within one year 2020 £ Accruals and deferred income 16,644 12 Financial instruments 2020 £ Carrying amount of financial assets Debt instruments measured at amortised cost 2,979 Equity instruments measured at market value 839,599 |
Total £ 889,109 (48,035) (1,475) - 839,599 839,599 889,109 2019 £ 537,574 264,088 85,879 887,541 2019 £ 9,242 2019 £ 3,038 2019 £ 4,109 889,109 |
|---|---|---|---|
| 2020 £ 528,472 218,270 91,372 838,114 2020 £ 3,841 2020 £ 16,644 2020 £ 2,979 839,599 |
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
| 12 | Financial instruments | 2020 | 2019 |
|---|---|---|---|
| (Continued) | |||
| Carrying amount of financial liabilities | |||
| Measured at amortised cost | 16,644 | 3,038 |
13 Endowment funds
Endowment funds represent assets which must be held permanently by the Charity. Income arising on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Movement in funds | Movement in funds | Movement in funds | |||
|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Revaluations |
Balance at 31 | |
| January | resources | expended | gains and | December | |
| 2020 | losses | 2020 | |||
| £ | £ | £ | £ | £ | |
| Endowment fund | 3,424,072 | - | - | (48,034) | 3,376,038 |
| 3,424,072 | - | - | (48,034) | 3,376,038 |
For the prior year, the opening balance on the endowment fund was £3,308,586. The only movement in the year related to net gains on investments of £115,486, giving a closing balance of £3,424,072. There were no incoming resources or resources expended.
14 Unrestricted funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement | in funds | |||
|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Balance at 31 | |
| January | resources | expended | December | |
| 2020 | 2020 | |||
| £ | £ | £ | £ | |
| Unrestricted fund | 84,149 | 76,864 | (103,397) | 57,616 |
| 84,149 | 76,864 | (103,397) | 57,616 |
For the prior year, the opening balance on the unrestricted fund was £96,194. The net incoming resources were £68,458 and resources expended were £80,503, giving a net movement in unrestricted fund of £12,045 which leaves a closing balance of £84,149.
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TANWORTH EDUCATIONAL FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
| 15 Analysis of net assets between funds Unrestricted Funds Endowment Funds £ £ Fund balances at 31 December 2020 are represented by: Tangible assets - 1,778,706 Investment properties - 794,251 Investments 36,518 803,081 Current assets/(liabilities) 21,098 - 57,616 3,376,038 Analysis of net assets between funds - prior year Unrestricted Funds Endowment Funds £ £ Fund balances at 31 December 2019 are represented by: Tangible assets - 1,778,706 Investment properties - 794,251 Investments 37,994 851,115 Current assets/(liabilities) 46,155 - 84,149 3,424,072 |
Total £ 1,778,706 794,251 839,599 21,098 |
|---|---|
| 3,433,654 | |
| Total £ 1,778,706 794,251 889,109 46,155 |
|
| 3,508,221 |
16 Related party transactions
There have been no transactions with related parties during the year (2019: None).
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