2022-03-31-accounts - Sheffield Grammar School Exhibition Foundation

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Trustees			J Boulton
			Prof. M Bateman
			J M Ferretti - Chair
			Z Hamid
			SC Turner
			D F Booker
			Dr. R Cutting
			H C Gandy
			K A Austin			(Appointed	27.tune 2022)
			G EGreenup			(Appointed	20 September 2021)
Law Clerk			S M Greaves
Charity Administrator			Ci Mills
Charity number			52')372 and 52')»(I
I'rincipsl	address		c/o Wrigleys	Solicitors LI P
			Derwent Ilouse
			150Arultdei	(iilie
			Sheftield
			South YorLshirc
			S I 21'N
Independent		examiner	R J Givans BA FCA
			UHY I-lacher	Young
			6 Broadfield	Court
			Broadfield Wa)
			Sheftield
			S8OXF
Solicitors			Wrigleys Solicitors LL,P
			Derwent House
			150Arundel	Gate
			Sheffield
			South Yorl.shire
			S I 2FN
Investment		advisors	Investec Wealth and Investment		Ltd
			Beech House
			61 Napier Street
			Sheffield
			SI I 8HA

				Page
Trustees' report				1-7
SHEFFIELD GRAMMAR SCHOOL EXHIBITION				FOUNDATION
Independent	examiner's	report
Statement ot	financial	activities		9- l0
Balance sheet
Statement ot'	cash t1ows
Notes to the accounts				13 - 23
FULWOOD	EDUCATIONAL		ENDOWMENT
Statement of	financial	activities		34
Balance sheet
Statement of	cash flows
Notes to the accounts				77
APPENDIX	A
Rent received

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				2022	202l
			Notes
Fixed assets
Investment	properties		ll	1,425,000		1,425,000
Investments			12	2,-'141, 141		2,175,334
				3,866,141		3,600.334
Current assets
l&cbturs			13	45.638	51,327
Cash at bank and in hand				219.113	283,694
				264.751	335,021
Creditors:	antounts	falling due within
unc year			14	(8-'1.930)	(65,315)
btct current	assets			179.821		269.706
'I'otal assets	less current liabilities			-1.045.962		3,870,040
Capital funds
I mlowtnent	I'unds			3 397038		3,277.755
Income funds
Unrestricted	funds
Designated	funds			I0.526	I0.526
General unrestricted		I'unds		638.398	581,759
				648,924		597.285
				4.045,962		3,870,040

						2022		2021
					Notes
Cash flows from operating			activities
Cash absorbed by operations							(158.684)		(136,879)
Investing activities
Purchase of investments						(261.351)		(137,916)
Proceeds on disposal of	investments					163.486		172,276
Interest received						191.971		163,581
Net cash generated from		investing
activities							94,103		197.941
Net cash used in financing			activities
Net (decrease)/increase	in	cash and cash
equivalents							(64.581)		61,062
Cash and cash equivalents		at beginning		of3	ear		283.694		222.632
Cash and cash equivalents			at end of	year			219.113		283.694

		2022	2021
Rental	income	110,241	95,742
Income	from listed investments	81,697	67,732
imerest	receivabie	aa	107
		191,971	163,581

				l'nresirieled	I'.ndu»sneni	TO(at	l'nreslrie)ed	ands)s)neni	TO(at
				funds	fnr»ls	2022	funds	funds	2021
				general			general
~CI
mvestment	income
Rental expenses				41,944		41,944	52,683		52,683
Investment	mana	ement			14.998	14998		13,340	13,340
				41,944	14,998	56.9-12	52,683	13,340	66,023
Rental expenses								2022	2021
Repairs, maintenance			and	insure)nc«				:i.777	34,302
Rates and	utiliti«s							8.044	7,277
Lasv clerk	fees							13,920	17,400
Surveyors	and prot'essionaf			foes				3.I I I	4.66I4
Bad debts								10964	(17,665)
COVID rent waived									6,625
Bank charges								128	80
								41,944	52,683
Charitable	activities
								2022	2021
Grant funding ofactivities				(see note 6)				72,343	28,793
Share ofgovernance			costs	(see note 7)				54,703	51,200
								127,046	79,993

Grants payable
						2022	2021
Grants to institutions		(13grants):
Utopia Theatre						5.000
CRESST						3.000
Steel City Chorister						3.000
Worldwise Foundation						5,000
Kine Edward Vll School						170		120
The Ethel Trust						1.960
Opera on Location						'2.500
The Shet'tield Wheat		Experiment				1.500
Whirlow Hall Farm	Trust					1.000		1.000
Dragons Academy						1.250
Young Singers								(533)
35th Shel'field (St.Ostvald's)			Scouts					1,840
Third Angel						1,800
Ignite Imaginations	I	td						(2,000)
Westwood 2015 Ltd						2.640		2,000
Friends and Volunteers		ot'Shet'iield		Music	I-lub			2.000
PACFS She(I teld						5.000
Police Community	Clubs							2.000
						33.770		6.428
Grants to individuals	(36grants)					38.573		22,365
						72,343		28,793

Support	c	osts
			SuppOrt	GOVernanCe	2022	Snnaertcnsts	I	Urernnnce cetic	202)
			costs	costs
liidcpcndent
cxtunination		fees		4,200	4.200			3,960	3,960
I c al and	professional			103	103			140		140
I aw clerk		fees		50,400	50,400			47,100	47,	100
				54,703	54,703			51,200	51,200
Analysed	between
Charitable		activities		54,703	&4,703			51,200	51,200

		nrestrietcd	Vndu»sueni	'fatal	nrestricted	nndU'I'IUICUI	Total
		fUUds	funds	2022	funds	funds	2021
		Senernl			rene»It
		f.
Revaluation	of
investments		34,266	128.030	162.296	63,596	308.072	371,668
Gain/(loss)	on sale of
investments		(608)	6,751	5,643	4,381	(8,073)	(3,692)
		33,658	134.781	167.939	67.977	299.999	367.976

Investment	property
		2022
Fair value
At I April	2021 and 31 March 2022	1,425,000

		2022	2021
Cost		175.438	175,438
Accumulated	depreciation
Catvyin ~ alttoullt		173.438	175,438
Fixed asset	investments
			Listed
			investments
Cost or valuation
At I April 2021			2,175,334
Additions			261,354
Valuation changes			162,296
Disposal s			(157,843)
At 31 March	2022		2,441,141
Carrying amount
At 31 March	2022		2,4-11.141
At 31 March	2021		2,175,334

I)cbtors
				2022	202I
Amounts falling		due within	one year:
Irenic debtors				31,956	39.773
()ther debtors				()273	7,414
I'repayments	aml	tccrued income		4.409	4.140
				45,C)3)8	51,327

Creditors: amounts	falling duc w.ithin one year
		2022	2021
Trade creditors		42,214	5.272
Other creditors		-180	480
Accruals and deferred	income	47.236	59,563
		84,930	65,315

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18	Cash generated from operations	Cash generated from operations	Cash generated from operations		2022	2021
	Surplus for the year				175.922	385,541
	Adjustments for:
	Investment income	recognised	in statement offinancial	activiiies	(191.971)	(163,581)
	(Gain)/loss on disposal ofinvestments				(5,643)	3,692
	I'air value gains and	losses on	investments		(162,296)	(371,668)
	Movements in working capital:
	Decrease/(increase)	in debtors			5.689	(25,593)
	Increase in creditors				19.615	34.730
	Cash absorbed by	operations			1158.684)	(136,87'))
19	Analysis o'fchanges	in net funds
	I he charity had no debt iluring		the year,

			Unrcstrictcd	Endnvvtnent	Total	Unrestricted	Endovvment	Total
			lund	fund	2022	fund	fund	2021
			0				5
Income from:
Invc tmenu			516		516	ti62		662
Other mcumc			1.000		1.000
Total incontc			1.516		ISIG	662
Expcnditurc on:
Sundry cxpcnses			4U		40	40			-10
Total resources expended			40						40
Set incnnte for tits vcar			1.476		1,476	f27		622
Other recofnised	Oains nnd losses
Uttrceltscd tnvmvtmcnt		atttts		I.t)41	1,041		2.501	2.501
Vct ntm cmcnt in funds			1.476	1.041	2,(17	62	2.501	3.123
I'und balances at	I Rpnl 2t)21		v.216	16.552	18,76tl	1rP)-I	14.U51	15.t	45
Iand balances at 31		319rch 2022	3.692	17,59;I	21 205	2.216	1(9552	Itt.yott

					2022		2021
							f
Fixed assets
Investments
900 ('harihond		Income Units			14,217		13,252
18672 Ollarihond		11»:ome	Units		3,154		3,300
(';lsh					222
( I hst»l loll covt		ol investments:		64,862 (2021:(4,640))		17,593
( nl'I'cnt llsscts
(',Iih al lnlnl					3,692		2,216
vcf current	Ilsscts					3,692
I'»I al assets	less current		liabilities			21,285
('spital funds
I:nd»wnlcnt	funds'					17,(93
Income funds
Unrestricted	funds					3,692
						21,285

						2022	2021
Cash flows from operating			activities
Surplus for the year						2,517	3.123
Investment	income recognised			in protit	or loss	(516)	(662)
Fair value	(gains) on invcstmcn(s					(1,041)	(2,501)
						960	(40)
Investing	activities
Interest reccivcd						516	662
iVet increase in cash and		cash		equivalents		1.476	622
Cash and	cash equivalents	at	hcginning		ofyear	2,216	1.594
Cash and	cash equivalents		at	end ofvear		3,692	2.216

						Bad debt
			Arrears at			write offs	Arrears at
			31 March		Rent	and (write	31 March
			2021	Rent due	received	backs)	2022
Property
202 I-lolme Lane	(tenanted)			24,000	24.000
208 )to(me I.mic	(iacunt)		267	5,542	2.400	-1.595	(1.186)
210 Ila(me (.anc	(vacant)			5,139		3. 13r)
220 - 222 Ilolmc	Lane (mnantcd)		4.125	8,250	If).. 12		2.0(i3
224 llolme I.anr:	(tr:nantcd)		(757)	4421	-1.320		(156)
226 - 228 Ilolrnc	I one (ten	an ted I	5.01')	8,000	9.023		3.996
23-1 - 236 Ilolmc	I anc (t«namcil)		12.782	8,250	2()akin	(8.845)	9.877
238 - 240 I lolme	I.unc (tenanted)		Ib.56(i	8,250	2.700	23)94	13.122
242 Ilolmc l,unc	(tenanted)		4.553	10,000	9.18)()		4.557
rrt 2 l,uilei Roail
			370i5	81,852	82.751	L883	32.273
Irlnt al»ivc 2(.oilc) ler»rd				3.G00	.L(on
I'hn (i(o»lci (triad			4.015	4,740		7.080	1.673
4 - (i I.oslci lbiarl			( I.i-l I )	7,000	8.3 17		(2.858)
			2.-174	15340	II.r)17	7.080	().183)
55 ('larkihuusic (bind (untatomcd)
59('larkchouic (bind and				1.000			1.000
Sgll Is(i ( Iilll't	( rill»Ill()
				1,000			1.000
186 - Ir)2 Ilrilnic	I.onc ltenantcrll			36			72
196 I lo(me I.mic	((crmn (cd	)		9			18
198)hi(me l,anc	(tcnantcri)			7	65		(5i)
			52	52	65		39
Total			39,581	98,244	94,733	10,9G3	32,(29