|||Page|
|---|---|---|
|Trust Information|||
|Trustees' Report and Statement ofResponsibility||2 —5|
|Independent<br>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<br>Properties||19|





|~A~~ht~b~~I||Telm<br>Commencement|~Len<br>of<br>Term|
|---|---|---|---|
|Huhne Trustees||20March 2019|4years|
|Manchester<br>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<br>School||24March 2022|3years|



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||||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<br>Income||15||159,058|159,058|170,330|
|Interest received||||||291|
|Total Incoming Resources||||203 954|203 954|~21873|
|Resources Expended|||||||
|Cost ofGenerating<br>Funds|||||||
|Fund Management||||12,876|12,876|13,743|
|Property Insurance||||448|448|3,070|
|Property Management<br>fees||||5 030|5 030|5 845|
|||||18354|18354|22 658|
|Charitable<br>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<br>Costs|||||||
|Management<br>Fees||||21,600|21,600|21,600|
|Accounting<br>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<br>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<br>in Funds||||~772<br>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<br>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<br>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<br>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|





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||||~Una<br>lied<br>Funds|~Una<br>lied<br>Funds|Permanent<br>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<br>Governance|Costs<br>Costs|(18,354)<br>~3366|||||
||||2,088,741|||2,088,741|
|Application<br>Expenditure|to<br>Reserve||(360,000)|||(360,000)|
|Transfer to|allow for inflation||~668|621|668 621||
|Preserved<br>value at|||||||
|31December 2021|||||||



|||||||31.12.21|31.12.20|
|---|---|---|---|---|---|---|---|
|Financial assets measured|at fair|value through||the|Statement|||
|ofFinancial Activities:||||||||
|Investments<br>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<br>University<br>William Hulme Grammar<br>School<br>Manchester~School||76,032<br>63,182<br>1,584|71,808<br>49,776<br>1,496|38,016<br>31,591<br>792|36,960<br>25,620<br>770|



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|Reconciliation o|fQuoted &Unquoted<br>Investments|||
|---|---|---|---|
|||Market Value|Cost|
|Opetung Balance|as at 01.01.21|11,712,484|10,076,997|
|Movement<br>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<br>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<br>Multi Asset Funds|402,537<br>1 234 299|526,851<br>~1332 12|20,998<br>4539|20,592<br>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<br>Arrears||11 182|33 383|
|Total||||



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|Fund Reconciliati|on||||||
|---|---|---|---|---|---|---|
||Balance at|Incoming|Inflation|Resources|Investment|Balance<br>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<br>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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||||~st at|||||
|---|---|---|---|---|---|---|---|
||||~2.1 .7|||||
||||Valuation<br>at|Valuation<br>at|Valuation<br>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<br>Estates|||388,468|1,650,000|1,650,000|24,662|25,955|
|Brookfold Farmhouse<br>Harwood, Lancashire|and Buildings,||88,000 *|1,235,000|1,235,000|15,000|15,000|
|Land adjacent to 22Brookfold Lane<br>Orange Mast at Brookfold Farm<br>Harwood Estate|||,<br>IIL000<br>476468|30,000<br>15000<br>~1280<br>2930081|30,000<br>15tXQ<br>~180tXXI<br>2930000|1,750<br>~212 <br>~447 7|1,645<br>~00<br> ~22 45<br>48.100|
|310/318Manchester<br>Road,||||||||
|Heaton Chapel||||||||
|KaxJggxgg;||||||||
|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|