| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe Charity, its Trustees and advisers | ||
| Trustees' report |
2-6 | ||
| Independent auditors' |
report | on the financial statements | 7-10 |
| Statement offinancial | activities | ||
| Balance sheet | 12 | ||
| Statement ofcash flows | 13 | ||
| Notes to the financial | statements | 14-27 |
| Trustees | Stuart Baran | |||
|---|---|---|---|---|
| Dennis Barnett | ||||
| Matthew Canale-Parola |
||||
| Janet Eastwood | ||||
| Stuart Esworthy (appointed |
1 September 2022) | |||
| Jeffrey Glenn (resigned | 9 | January 2022) | ||
| Peter Kent (resigned 31 | December 2021) | |||
| Simon Lau (appointed | 22 | September 2021) | ||
| Thomas Legge (appointed | 6 April 2022) | |||
| Kevin Mahon (resigned | 31 August 2022) | |||
| Carol Moor | ||||
| Teresa Mpofu (appointed | 1 January 2022) | |||
| Justin Muston | ||||
| Kalonga Musukuma | ||||
| Sue Peach (resigned 31 August 2022) | ||||
| Rebecca Rees | ||||
| Gwen Temple (resigned | 21 September 2021) | |||
| Paula Whitfield | ||||
| Charity registered | ||||
| number | 528770 | |||
| Principal Address | Lawrence Sheriff School | |||
| Clifton Road | ||||
| Rugby | ||||
| Warwickshire | ||||
| CV21 3AG | ||||
| Clerk to Trustees | Gillian Beardshaw | |||
| Auditors | Crowe U.K. LLP | |||
| Black Country House | ||||
| Rounds Green Road | ||||
| Oldbury | ||||
| West Midlands | ||||
| B692DG | ||||
| Bankers | Barclays Bank PLC | |||
| 11 North Street | ||||
| Rugby | ||||
| Warwickshire | ||||
| CV21 2AN | ||||
| Solicitors | Browne Jacobson LLP | |||
| Mowbray House |
||||
| Castle Meadow Road | ||||
| Notting ham | ||||
| NG2 1BJ |
| Unrestricted | Restricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2022 | 2021 | ||||
| Note | E | f. | f. | |||||
| Income and | ||||||||
| endowments | from: | |||||||
| Donations and |
legacies | 3 | 666,737 | 666,737 | 667,191 | |||
| Investments | 4 | 236 | 118 | 354 | 717 | |||
| Total income endowments |
and | 666,973 | 118 | 667,091 | 667,908 | |||
| Expenditure | on: | |||||||
| Charitable activities |
472,187 | 222,267 | 694,454 | 770,376 | ||||
| Total expenditure | 472,187 | 222,267 | 694,454 | 770,376 | ||||
| Net | ||||||||
| income/(expenditure) | ||||||||
| before net | ||||||||
| gains/(losses) investments |
on | 194,786 | 118 | (222,267) | (27,363) | (102,468) | ||
| Net gain/(loss) investments |
on | 3371 | (19) | 3,352 | (745) | |||
| Net | ||||||||
| income/(expenditure) | 198,157 | 99 | (222,267) | (24,011) | (103,213) | |||
| Transfers between |
||||||||
| funds | (139,700) | 139,700 | ||||||
| Net movement | in | |||||||
| funds | 58,457 | (82,567) | (24,011) | (103,213) | ||||
| Reconciliation | of | |||||||
| funds: | ||||||||
| Total funds brought forward |
633,727 | 7,890 | 8,474,624 | 9,116,241 | 9,219,454 | |||
| Net movement | in funds | 58,457 | 99 | (82,567) | (24,011) | (103,213) | ||
| Total funds | carried | |||||||
| forward | 692,184 | 7,989 | 8,392,057 | 9,092,230 | 9,116,241 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| Fixed assets | |||||||
| Tangible assets | 10,296,864 | 10,519,131 | |||||
| Investments | 15,505 | ||||||
| 10,296,864 | 10,534,636 | ||||||
| Current assets | |||||||
| Debtors | 10 | 291,738 | 167,191 | ||||
| Cash at bank and | in hand | 510,614 | 503,982 | ||||
| 802,352 | 671,173 | ||||||
| Creditors: amounts | falling | due within one | |||||
| year | (226,811) | (185,496) | |||||
| Net current assets | 575,541 | 485,677 | |||||
| Total assets less | current | liabilities | 10,872,405 | 11,020,313 | |||
| Creditors: amounts | falling | due after more | |||||
| than one year | 12 | (1,780,175) | (1,904,072) | ||||
| Total net assets | 9,092,230 | 9,116,241 | |||||
| Charity funds | |||||||
| Endowment funds |
13 | 8,392,057 | 8,474,624 | ||||
| Restricted funds |
13 | 7,989 | 7,890 | ||||
| Unrestricted funds |
13 | 692,184 | 633,727 | ||||
| Total funds | 9,092,230 | 9,116,241 |
| STATEMENT OF CASH FLOWS | STATEMENT OF CASH FLOWS | ||||||
|---|---|---|---|---|---|---|---|
| FOR | THE | YEAR ENDED 31 AUGUST | 2022 | ||||
| 2022 | 2021 | ||||||
| Note | F | ||||||
| Cash flows from operating | activities | ||||||
| Net cash used in operating |
activities | 127,247 | 324,615 | ||||
| Cash flows from investing | activities | ||||||
| Dividends, interests and rents from investments |
354 | 717 | |||||
| Proceeds from sale of investments | 18,857 | ||||||
| Net cash provided by investing activities |
19,211 | 717 | |||||
| Cash flows from financing | activities | ||||||
| Repayments of borrowing |
(139,700) | (133,430) | |||||
| Interest paid | (126) | (92,809) | |||||
| Net cash used in financing | activities | (139,826) | (226,239) | ||||
| Change in cash and cash |
equivalents in |
the year | 6,632 | 99,093 | |||
| Cash and cash equivalents | at the beginning | ofthe year | 503,982 | 404,889 | |||
| Cash and cash equivalents | at the end of | the year | 16 | 510,614 | 503,982 | ||
| The notes on pages 14 to 27 form part | ofthese financial statements |
| Unrestricted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2021 | ||||
| Rugby | Lower | School | donations | 667, '/91 | 667,191 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| F | F | F | ||
| Investment | income - prize fund | 118 | 118 | |
| Other interest received | 236 | 236 | ||
| 236 | 118 | 354 | ||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| Investment | income - prize fund | 350 | 350 | |
| Other interest received | 367 | 367 | ||
| 367 | 350 | 717 |
| Unrestricted | Endowment | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| E | f. | F | |
| Insurance | 93,383 | 93,383 | |
| Rugby Bid Levy | 5,000 | 5,000 | |
| School budget allowance | 253,982 | 253,982 | |
| Prizes | 5,038 | 5,038 | |
| Professional fees | 23,896 | 23,896 | |
| Finance charges | 90,888 | 90,888 | |
| Depreciation | 222,267 | 222,267 | |
| 472,187 | 222,267 | 694,454 |
| Unrestricted | Endowment | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| Insurance | 69,634 | 69,634 | |
| Rugby Bid Levy | 3,606 | 3,606 | |
| School budget allowance | 281,545 | 281,545 | |
| Prizes | 1,819 | 1,819 | |
| Professional fees | 23,696 | 23,696 | |
| Capital projects | 75,000 | 75,000 | |
| Finance charges | 92,809 | 92,809 | |
| Depreciation | 222,267 | 222,267 | |
| 548,109 | 222,267 | 770,376 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Auditor's | remuneration | - statutory | audit | 3,500 | 3,300 | |
| Depreciation | oftangible | fixed assets: | ||||
| -owned | by | the Charity | 222,267 | 222,267 |
| 8. | Tangible fixed assets | |
|---|---|---|
| Freehold | ||
| property | ||
| E | ||
| Cost or valuation | ||
| At 1 September 2021 | 12,075,000 | |
| At 31 August 2022 | 12,075,000 | |
| Depreciation | ||
| At 1 September 2021 | 1,555,869 | |
| Charge for the year | 222,267 | |
| At 31 August 2022 | 1,778,136 | |
| Net book value | ||
| At 31 August 2022 | 10,296,864 | |
| At31August 2021 | 10,519,131 |
| 2022f | 2021 E |
||||||
|---|---|---|---|---|---|---|---|
| F515Equities | Investment | Fund for Charities | Income Units | 7,890 | |||
| 2577.30 Charities | Official | Investment | Income | Shares | 7,615 | ||
| 15,505 |
| 2022 | 2021 | |
|---|---|---|
| F | ||
| Due within one year | ||
| Accrued income from Rugby Lower School | 291,738 | 167,191 |
| 291,738 | 167,191 |
| 11. | Creditors: Amounts | falling due within | one year | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Bank loans | 124,632 | 140,435 | |||
| Amounts owed to Lawrence Sheriff School Academy Trust |
321 | 321 | |||
| Accruals and deferred | income | 101,858 | 44,740 | ||
| 226,811 | 185,496 | ||||
| 12. | Creditors: Amounts | falling due after | more than one year | ||
| 2022 | 2021 | ||||
| Bank loans | 1,780,175 | 1,904,072 | |||
| Included within the above are amounts |
falling due as follows: | ||||
| Between two and five years | |||||
| Bank loans | 539,027 | 550,160 | |||
| Over five years | |||||
| Bank loans | 1,241,148 | 1,353,912 |
| Balance at 1 | Balance at | |||||
|---|---|---|---|---|---|---|
| September 2021 |
Income | Expendituref | Transfers in/out F |
Gains/ (Losses) f |
31 August 2022 E |
|
| Unrestricted | ||||||
| funds | ||||||
| General Funds- | ||||||
| all funds | 633,727 | 666,973 | (472,187) | (139,700) | 3,371 | 692,184 |
| Endowment | ||||||
| funds | ||||||
| Endowment | ||||||
| Funds - all funds | 8,474,624 | (222,267) | 139,700 | 8,392,057 | ||
| Restricted | ||||||
| funds | ||||||
| Prize fund | 7,890 | 118 | (19) | 7,989 | ||
| Total offunds | 9,116,241 | 667,091 | (694,454) | 3,352 | 9,092,230 |
| Statement offunds (continued) | Statement offunds (continued) | Statement offunds (continued) | |||||
|---|---|---|---|---|---|---|---|
| Statement offunds - prior year | |||||||
| Balance at | Balance at | ||||||
| 1September 2020 |
Income | Expenditure | Transfers in/out |
Gains' (Losses) |
31August 2021 |
||
| Unrestricted | |||||||
| funds | |||||||
| Unrestricted general funds |
649,401 | 667,558 | (548,109) | (133,080) | (2,043) | 633,727 | |
| Endowment | |||||||
| funds | |||||||
| Permanent | |||||||
| endowment | fund | 8,563,461 | (222,267) | 133,430 | 8,474,624 | ||
| Restricted | |||||||
| funds | |||||||
| Prize fund | 6,592 | 350 | (350) | 1,298 | 7,890 | ||
| Total offunds | 9,219,454 | 667,908 | (770,376) | (745) | 9,116,241 |
| Analysis | of n | et assets between funds - |
current year | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||
| funds | funds | funds | funds | |||
| 2022 | 2022 | 2022 | 2022 | |||
| E | E | |||||
| Tangible | fixed | assets | 10,296,864 | 10,296,864 | ||
| Current | assets | 794,363 | 7,989 | 802,352 | ||
| Creditors | due | within one year | (102,179) | (124,632) | (226,811) | |
| Creditors | due | in more than one year | (1,780,175) | (1,780,175) | ||
| Total | 692,184 | 7,989 | 8,392,057 | 9,092,230 |
| Analysis of n | et assets between funds - |
prior year | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||
| funds | funds | funds | funds | ||
| 2021 | 2021 | 2021 | 2021 | ||
| Tangible fixed | assets | 10,519,131 | 10,519,131 | ||
| Fixed asset investments | 7,615 | 7,890 | 15,505 | ||
| Current assets | 671,173 | 671,173 | |||
| Creditors due | within one year | (45,061) | (140,435) | (185,496) | |
| Creditors due | in more than one year | (1,904,072) | (1,904,072) | ||
| Total | 633,727 | 7,890 | 8,474,624 | 9,116,241 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Net expenditure for |
the year (as per Statement of Financial Activities) | (24,011) | (103,213) | ||
| Adjustments for: |
|||||
| Depreciation charges |
222,267 | 222,267 | |||
| (Gain)/Loss on investments |
(3,352) | 745 | |||
| Dividends, interests |
and rents from investments | (354) | (717) | ||
| Interest payable | 126 | 92,809 | |||
| (Increase)/Decrease | in debtors | (94,547) | 109,233 | ||
| Increase in creditors |
57,118 | 3,491 | |||
| Net cash provided | by operating activities |
157,247 | 324,615 | ||
| 16. | Analysis ofcash and cash equivalents | ||||
| 2022 | 2021 | ||||
| Cash in hand | 510,614 | 503,982 | |||
| Total cash and cash | equivalents | 510,614 | 503,982 |
| Changes in |
||||||
|---|---|---|---|---|---|---|
| market | ||||||
| value and | ||||||
| At 1 | exchange | |||||
| September 2021 |
Cash flows | rate movements |
At 31 August 2022 |
|||
| F | F | F | ||||
| F | ||||||
| Cash | at bank and in hand | 503,982 | 6,632 | 510,614 | ||
| Debt | due within | 1 year | (140,435) | 139,700 | (123,897) | (124,632) |
| Debt | due after 1 year | (1,904,072) | 123,897 | (1,780,175) | ||
| (1,540,525) | 146,332 | (1,394,193) |