2021-12-31-accounts

		Page
Trust Information
Trustees' Report and Statement ofResponsibility		2 —5
Independent Auditor' sReport		6 —9
Statement ofFinancial Activities		10
Balance Sheet
Notes to the Financial Statements		12—17
Information	for the Trustees
Distribution ofSurplus Income
Investment Properties		19

~A~~ht~b~~I		Telm Commencement	~Len of Term
Huhne Trustees		20March 2019	4years
Manchester Grammar	School	20September 2018	4years
Brasenose College		3November 2018	4years
Brasenose College		22 March 2018	4years
Hulme Trustees		20March 2020	4years
Hulme Trustees		14September 2021	4years
Bury Grammar School		24March 2022	3years

			Unrestricted	Endowment	31.12.21	31.12.20
		Page	Fund	Funds	Total	Total
Incoming Resources
Rents Received and Receivable		19		44,896	44,896	48,117
Investment Income		15		159,058	159,058	170,330
Interest received						291
Total Incoming Resources				203 954	203 954	~21873
Resources Expended
Cost ofGenerating Funds
Fund Management				12,876	12,876	13,743
Property Insurance				448	448	3,070
Property Management fees				5 030	5 030	5 845
				18354	18354	22 658
Charitable Purposes
(2020 —Only Unrestricted	Fund)
Interim Distribution		18	180,000		180,000	165,000
Proposed Final Dishibution		18	180000		180000	175000
			360000		360000	301000
Governance Costs
Management Fees				21,600	21,600	21,600
Accounting fees				4,320	4,320	4,680
Audit Fee				4,273	4,273	4,272
Trustee and Meeting Expenses						212
Bank Charges and Interest				684	684	580
				30877	30877	31 344
Other Expenses
Sinking Fund		16		170	170	170
Total Expenses			360000	49401	409401	394172
Net Expenditure			~360000	154553	~2447	~775434
Capital Transactions
Realised gains —Investments				17,916	17,916	967,984
Realised losses - Investments				(159,907)	(159,907)
Unrealised Gains (losses) - Investments				2076179	2007.179	~953 631
Net Capital transactions				1,934,188	1,934,188	14,353
Transfer between Funds			36tl 100	~~007
Net Movement in Funds				~772 741	1 728 741	~567 tl81
Balances at 31December 2020				14,627,918	14,627,918	14,788,999
Balances at 31December 2021				16,356,659	16,356,659	14,627,918

		Endowment	31.12.21	Endowment	31.12.20
	Page	Fund	Total	Fund	~Ttal
Investment Properties	19	2,930,101	2,930,101	2,930,101	2,930,101
Quoted Investments	15	13,559,313	13,559,313	11,712,484	11,712,484
Unquoted Investment
		16489414	16489414	14642585	14642585
Current Assets
Debtors	16	3,705	3,705	3,283	3,283
Balance at Broker		52,806	52,806	154,879	154,879
Cash at Bank		16779	16779	31422	31422
		73290	73290	189584	189584
Current LiabiTities
Creditors	16	26,045	26,045	29,251	29,251
Proposed Final Distribution		180,000	180,000	175,000	175,000
		206,045	206,045	204,251	204,251
Net Current Assets		(132,755)	(132,755)	(14,667)	(14,667)
Total Assets Less Current	Liabilities	16,356,659	16,356,659	14,627,918	14,627,918
Fund Balances		16,356,659	16,356,659	14,627,918	14,627,918

			~Una lied Funds	~Una lied Funds	Permanent Endowment	Total Funds
Preserved value at
24December 1980					2,094,612
Allowance	for inflation				6762 366
Balance at
31December 2020			5,770,942		8,856,976	14,627,918
Investment	Return	203,954
Investment	Gains (Losses)	(141,991)
Revaluation	Gains	2,076,179
Management Governance	Costs Costs	(18,354) ~3366
			2,088,741			2,088,741
Application Expenditure	to Reserve		(360,000)			(360,000)
Transfer to	allow for inflation		~668	621	668 621
Preserved value at
31December 2021

						31.12.21	31.12.20
Financial assets measured	at fair	value through		the	Statement
ofFinancial Activities:
Investments stated at market	value					16,489,414	14,642,585
Financial assets that are debt instruments			measured		at
amortised cost:
Cash at bank and cash equivalents						16,779	31,422
Balance at Broker						52,806	154,879
Financial liabilities at amortised		cost:
Grants committed						12,583	14,582
Accruals						8,318	8,318
Rents in advance						4,125	5400

classed as related parties.	Transactions	and balances wi	th related parties	are detailed be	low.
Related Part3'		Distribution	Distribution	Creditor	Creditor
		2021f	2020f	2021f	2020f
Brasenose College		152,064	143,616	76,032	73,920
Manchester University William Hulme Grammar School Manchester~School		76,032 63,182 1,584	71,808 49,776 1,496	38,016 31,591 792	36,960 25,620 770

Reconciliation o	fQuoted &Unquoted Investments
		Market Value	Cost
Opetung Balance	as at 01.01.21	11,712,484	10,076,997
Movement in year
Additions		570,915	570,915
Disposals at Market Value/Cost		(658,274)	(801,951)
Net unrealised	gains Joss) for year	1 934 188
Closing Balance	as at 31.12.21

	Cost	Market Value	Income
			31.12.21	31.12.20
Fixed Interest	663,602	678,440	26,443	30,158
UK Equities and Equity Funds	2,960,420	4,641,444	73,980	79,540
Equity Investment Instruments	808,967	1,253,567	13,383	13,442
Global Equities and Equity Funds	3,756,235	4,926,885	19,715	18,477
Property Funds and other Assets Multi Asset Funds	402,537 1 234 299	526,851 ~1332 12	20,998 4539	20,592 8 121

4.DEBTORS		31.12.21	31.12.20
Prepayments		3II7	3 383
Total
5.CREDITORS
		31.12.21	~1.12.2
Rent in advance		4,125	5,500
Accrued Broker's Fee		4,118	4,118
Accrued Audit Fee		4,200	4,200
Sinking Fund		1,020	850
Grant to Chetham's	School	1,400	1,400
Distribufion Arrears		11 182	33 383
Total

Fund Reconciliati	on
	Balance at	Incoming	Inflation	Resources	Investment	Balance at
	1stJanuary	Resources	Transfer	Expended	Gains	31December
	'7Q70				(Losses)	2070
Expendable	6,036,963	218,738	(104,940)	(394,172)	14,353	5,770,942
Endowment
Permanent	8,752,036		104,940			8,856,976
Endowment
	Balance at	Incoming	Inflation	Resources	Investment	Balance at
	1stJanuary	Resources	Transfer	Expended	Gains	31December
	7071				(Losses)	2021
Expendable
Endowment	5,770,942	203,954	(668,621)	(409,401)	1,934,188	6,831,062
Permanent	8,856,976		668,671			9,525,597
Endowment

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			Valuation at	Valuation at	Valuation at	Income	Income
			31.3.85*	March 2021	March 2020	31.12.21	~1.12.2
LIdJhnh
Bottom Fen Farm, Aslackby,
Lincolnshire				1,150,000	1,150,000	17,562	18,000
			388,468
Mill Farm, Gosbetton,	Lincolnshire	)		500,000	500,000	7,100	7,955
Lincolnshire Estates			388,468	1,650,000	1,650,000	24,662	25,955
Brookfold Farmhouse Harwood, Lancashire	and Buildings,		88,000 *	1,235,000	1,235,000	15,000	15,000
Land adjacent to 22Brookfold Lane Orange Mast at Brookfold Farm Harwood Estate			, IIL000 476468	30,000 15000 ~1280 2930081	30,000 15tXQ ~180tXXI 2930000	1,750 ~212 ~447 7	1,645 ~00 ~22 45 48.100
310/318Manchester Road,
Heaton Chapel
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Sundry BT,United Utilities, E-On
Oldham MBC, Anglian	Water					109	17
			~II	101	101	~I	17
			476 569	2,930,101	2,930,101	44,896	48,117