2021-03-31-accounts - Sheffield Grammar School Exhibition Foundation

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Trustees			JBoulton
			Prof. M Bateman
			M Merchant
			JM Ferretti - Chair
			Z Hamid
			SC Turner
			D FBooker
			Dr. RCutting			(Appointed	21 September 2020)
			C Gandy			(Appointed	21 September 2020)
Law Clerk			SM Greaves
Charity Administrator			G Mills
Charity number			529372 and 529350
Principal	address		c/o Wrigleys	Solicitors LLP
			Derwent House
			150Arundel	Gate
			SheAield
			South Yorkshire
			Sl 2FN
Independent		examiner	RJGivans BAFCA
			UHY Hacker	Young
			6Broadfield	Court
			Broadfield Way
			SheAield
			Sg OXF
Solicitors			Wrigleys Solicitors LLP
			Derwent House
			150Arunde1	Gate
			Sheifield
			South Yorkshire
			Sl 2FN
Investment		advisors	Investec Wealth and Investment		Ltd
			Beech House
			61Napier Street
			Sheffield
			SlI SHA

			Page
Trustees' report			1-7
SHEFFIELD GRAMMAR SCHOOL EXHIBITION			FOUNDATION
Independent examiner's	report
Statement offinancial	activities		9-10
Balance sheet
Statement ofcash flows			12
Notes to the accounts			13 - 23
FULWOOD EDUCATIONAL		ENDOWMENT
Statement offinancial	activities		24
Balance sheet			25
Statement ofcash flows			26
Notes to the accounts			27
APPENDIX A
Rent received			28

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				Notes	2021 f	2020
Fixed assets
Investment	properties			11	1,425,000	1,425,000
Investments				12	2,175,334	1,841,718
					3,600,334	3,266,718
Current assets
Debtors				13	51,327	25,734
Cash at bank and in hand					283,694	222,632
					335,021	248,366
Creditors:	amounts	falling due within
one year				14	(65,315)	(30,585)
Net current	assets				269,706	217,781
Total assets	less current		liabilities		3,870,040	3,484,499
Capital funds
Endowment	funds				3,277,755	2,991,096
Income funds
Unrestricted	funds
Designated	funds			15	10,526	10,526
General unrestricted		funds			581,759	482,877
					592,285	493,403
					3,870,040	3,484,499

			2021		2020
		Notes
Cash flows from operating		activities
Cash absorbed by operations		18		(136,879)		(228,292)
Investing activities
Purchase of investments			(137,916)		(207,126)
Proceeds on disposal of	investments		172,276		211,327
interest received			163,581		193,190
Net cash generated from investing
activities				197,941		197,391
Net cash used in financing		activities
Net increase/(decrease)	in cash and cash
equivalents				61,062		(30,901)
Cash and cash equivalents	at beginning ofyear			222,632		253,533
Cash and cash equivalents		at end ofyear		283,694		222,632

		2021	2020
		f.
Rental	income	95,742	109,856
Income	from listed investments	67,732	82,952
Interest	receivable	107	382
		163,581	193,190

				Unrestricted	Endowment	Total	Unsmtrieted	Endowment	Total
				funds	funds	2021	funds	funds	2020
				genernl			general
C~uef	S
mvestment	income
Rental expenses				52,683		52,683	75,616		75,616
investment	mana	ement			13,340	13,340		13,791	13,791
				52,683	13,340	66,023	75,616	13,791	89,407
Rental expenses								2021	2020
									g
Repairs, maintenance			and	insurance				34,302	46,889
Rates and	utilities							7,277	775
Law clerk	fees							17,400	9,218
Surveyors	and professional			fees				4,664	7,656
Bad debts								(17,665)	11,018
COVID rent waived								6,625
Bank charges								80	60
								52,683	75,616
Charitable	activities
								2021	2020
Grant funding ofactivities				(see note 6)				28,793	85,113
Share ofgovernance			costs	(see note 7)				51,200	53,045
								79,993	138,158

Grants payable
				2021		2020
Grants to institutions		(6grants):
White Rose							4,980
CRESST							3,000
Opera on Location							800
Worldwise Foundation							3,000
King Edward VII School					120		1,420
Meadowhead Community							2,000
Music in the Round							2,000
Whirlow Hall Farm		Trust		1,000			1,000
Dragons Academy							2,500
Young Singers				(533)
35th Sheffield (St.Oswald's)			Scouts	1,840
Tapton Youth Brass		Band					1,500
Ignite Imaginations		Ltd		(2,000)			2,000
Greentop Community		Circus					1,500
SF4SD							1,500
SYDance Hub							1,000
Westwood 2015 Ltd				2,000			2,000
Friends and Volunteers ofSheffield Music Hub				2,000			2,000
Manor Training							3,000
Nether Green Junior		School					660
PACES Sheffield							2,000
Easy Street Theatre							2,500
Friends ofthe City	ofSheffield						1,500
Good Chance Theatre							1,500
Police Community	Clubs			2,000			2,000
				6,428			45,360
Grants to individuals		(24 grants)		22,365			39,753
				28,793			85,113

Support costs
	Support costs	Governance costs	2021		Support costs	Governance cosh	2020
	f.		f				f
Independent
examination fees		3,960	3,960			3,960	3,960
Legal and professional		140		140		240	240
Law clerk fees		47,100	47,	100		48,845	48,845
		51,200	51,200			53,045	53,045
Analysed between
Charitable activities		51,200	51,200			53,045	53,045

		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		funds	funds	2021	funds	fuads	2020
		general			general
Revaluation	of
investments		63,596	308,072	371,668	(62,671)	(212,260)	(274,931)
Gain/(loss)	on sale of
investments		4,381	(8,073)	(3,692)	(270)	3,021	2,751
		67,977	299,999	367,976	(62,941)	(209,239)	(272,180)

Investment	property
		2021
Fair value
At I April	2020 and 31 March 2021	1,425,000

			2021	2020
	Cost		175,438	175,438
	Accumulated	depreciation
	Carrying amount		175,438	175,438
12	Fixed asset	investments
				Listed
				investments
	Cost or valuation
	At I April 2020			1,841,718
	Additions			137,916
	Valuation changes			371,668
	Disposals			(175,968)
	At 31 March	2021		2,175,334
	Carrying amount
	At 31 March	2021		2,175,334
	At 31 March	2020		1,841,718

Debtors
		2021	2020
Amounts falling due within one year:			g
Trade debtors		39,773	13,950
Other debtors		7,414	7,236
Prepayments	and accrued income	4,140	4,548
		51,327	25,734

Creditors: amounts falling due within one year
	2021	2020
Trade creditors	5,272	3,850
Other creditors	480	1,670
Accruals and deferred income	59,563	25,065
	65,315	30,585

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Cash generated from operations	Cash generated from operations		2021	2020
Surplus/(deficit) for the year			385,541	(306,555)
Adjustments for:
Investment income recognised	in statement offinancial	activities	(163,581)	(193,190)
Loss/(gain) on disposal ofinvestments			3,692	(2,751)
Fair value gains and losses on investments			(373,760)	274,931
Movements in working capital:
(Increase) in debtors			(25,593)	(2,629)
Increase in creditors			34,730	1,902
Cash absorbed by operations			(138,971)	(228,292)

				Unrestricted	Endowmeat	Total	Unrestricted	Endowment	Total
				fund	fund	2021	fund	fund	2020
				f	f			f	f
income from:
Investments				662		662	829		829
Total income				662		662	829		829
Expenditure on:
Sundry expenses				40		40	40		40
Grants							800		800
Total resources	expended					40	840		840
Net income/(expenditure)			for the year	622		622
Otlrer recognised gains and losses
Unrealtsed mvestment		gains/(losses)			280I	2,501		(3,095)	(3,095)
(oct ntovcment	in funds			G22	2 501	3,123	(11)	(3,095)	(3,106)
Fund balances at I Apnl 2020				1,594	14,051	15,645	I,G05	17,146	18,751
Fund balances	at 31	March 2021		2,21G	16352	18,768	1,594	14,051	15,645

				2021		2020
Fixed assets
Investments
900Charibond	Income Units			13,252		10,759
2,672 Charibond	Income	Units		3,300		3,292
(Historical cost	ofinvestments:		K4,640(2020:K4,640))		16,552
Current assets
Cash at bank				2&216		I,594
Net current assets					2,216
Total assets less current		liabilities			10,768
Capital funds
Endowment funds					16,552
Income funds
Unrestricted funds					2,216
					IS,768

					2021	2020
					0
Cash flows from operating			activities
(Deficit)/surplus for the year					3,123	(3,106)
investment	income recognised			in profit or loss	(662)	(829)
Fair value	gains and (losses)		on	investments	(2,501)	3,095
					(40)	(840)
Investing	activities
Interest received					662	829
Net increase/(decrease) in		cash and cash equivalents			622
Cash and	cash equivalents	at	beginning ofyear		1,594	1,605
Cash and	cash equivalents		at	end ofyear	2,216	1,594

					Sad debt
	Arrears at		Rent waived		write offs	Arrears at
	31March		title 'to	Rent	and (write	31March
	2020	Rent due	COVID	received	backs)	2021
Property
202 Holme Lane (tenanted)	12	24,552		24,552	12
208 Holme Lane (vacant)	1,097	4,396		5,226		267
210 Holme Lane (vacant)
220 - 222 Holme Lane (tenanted)	2,063	8,692	(4,125)	2.505		4,125
224 Holme Lane (tenanted)	(77)	4,500		4.680		(257)
226 - 228 Holme Lane (tenanted)	4.042	8,335		7.358		5,019
234 - 236 Holme Lane (tenanted)	3,900	8,564		15,900	(16,218)	12,782
238 - 240 Holme Lane (tenanted)		8,960		3,000	(4,606)	10,566
242 Hohne Lane (tenanted)	2,051	10,260	(2,500)	3,258		4,553
&2 Loxley Road
	13,088	78,259	(6,625)	68,479	(20.812)	37,055
Flat above 2 Loxley Road
Flat 6 Loxley Road	1,580	5,925		330	3,160	4„015
4-6 l.oxley Road	(699)	7,474		8,316		(1,541)
	881	13,399		8.646	3.160	2.474
55 Clarkehouse Road (untenanted)
59Clarkehouse Road and		1,000		1.000
Squash Court (vacant)
		1,000		1.000
186 - 192Holme Lane (tenanted)		36				36
196Holme Lane (tenanted)		9				9
198Holme Lane (tenanted)		7				7
		52				52
Total	13,969	92,710	(6,625)	78,125	(17,652)	39,581