OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-07-31-accounts

Page
Report ofthe Trustees 1 to 11
Report ofthe Independent
Auditors		 12 to 16
Statement of Financial Activities '16
Balance Sheet 17
Cash Flow Statement
Notes to the Cash Flow Statement 19
Notes to the Financial Statements 20 to 30
Detailed Statement of Financial Activities

2022 2021
Unrestricted Restricted Total Total
funrls h)nds funds funds
Notes E
INCOINE AND ENDOWMENTS FROIN
Investment
income		 73,220 - 73,220 74,614
EXPENDITURE ON
Raising funds 17,689 17,689 17,794
Charitable
activities
Charitable
activities		 115,887 115,887 759,351
Total 133,576 133,576 777,145
Net gains/(losses)
on		 investments ~67,261) ~67,26&) 811,428
NET INCOINE/(EXPENDITURE) (127,617) (127,617) 109,094
RECONCILIATION
OF FUNDS
Total funds brought forward 4,768,257 10,732 4,778,989 4,669,895
TOTAL FUNDS CARRIED FORWARD 4640,640 10,732 4,661,372 4,778.989
2022 202
I
Unrestricterl kestllcted Total Total
funds funds funds funds
Notes F Ii
I-"IXEDASSETS
Investments 12 4,497,498 4,497,498 4,742,263
CURRENT ASSETS
Cash at bank 254,712 10,732 265,444 114,369
CREDITORS
Amounts
falling due within one year		 13 (111,570) (111,570) (77,633)
NET CURRENT ASSETS 143,142 10,732 153,874 36,736
TOTAL ASSETS LESSCURRENT
LIABILITIES 4,640,640 'I0,732 4,651,372 4,778,989
NET ASSETS 4,640,640 10,732 4,651,372 4,778,989
FUNDS 14
Unrestricted
funds		 4,640,640 4,768,257
Restricted
funds		 10,732 10,732
TOTAL FUNDS 4 851,372 4,778.989
202
I
Notes
Cash flows from operating activities
Cash generated
from operations		 ~99939) ~1,039,904)
Net cash used
in		 operating activities ~99,639) ~I, I)39,904)
Cash flows from investing activities
Purchase offixed asset investments ('l,172,'I 63) (1, 'I02,302)
Sale of fixed asset investments 1,349,657 1,846,416
Interest received 79 1,584
Dividends
received		 73,141 73,230
Net cash provided by investing
activities		 250,/14 8I8,928
Change
in cash		 and cash equivalents
in the reporting period 151,075 (220,976)
Cash and cash equivalents
beginning
ofthe reporting		 at the
period		 114,369 335,345
Cash and cash equivalents
ofthe reporting
period		 at the end 265,444 114,369
RECONCILIATION OF NET (EXPENDITURE)/INCOIIE OF NET (EXPENDITURE)/INCOIIE OF NET (EXPENDITURE)/INCOIIE To NE i J;ASII I-I.OW FRONI OPERA'I'ING
ACTIVITIES
2022 2021
E
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities) (127,617) 109,094
Adjustments
for:
Losses/(gain)
on investments		 67,261 (811.425)
Interest received (79) (1,584)
Dividends
received		 (73,141) (73,230)
Increase/(decrease) in creditors 33,937 ~262,759)
Net cash used in operations ~99639) J&,D39,904)

ANALYSIS OF CHANGES
IN NET		 FUNDS
At 1.8.21 Gash flow At 31.7.22
K
Net cash
Cash at bank 114,369 151,075 265,444
114,369 151,075 265,444
Total 114,369 151,075 265,444

lU&&i&
&,
i »
ii&0		 lU&&i&
&,
i »
ii&0		 lU&&i&
&,
i »
ii&0		 i&& il«: I:i«;««:i;&I St~&t&'.«&e«h,
y&,.«:&«t&5&l:l,luly!022		 i&& il«: I:i«;««:i;&I St~&t&'.«&e«h,
y&,.«:&«t&5&l:l,luly!022		 i&& il«: I:i«;««:i;&I St~&t&'.«&e«h,
y&,.«:&«t&5&l:l,luly!022		 i&& il«: I:i«;««:i;&I St~&t&'.«&e«h,
y&,.«:&«t&5&l:l,luly!022
3. INVESTNIENT
INCOINE
2022 2021
f.
Investment income 73,141 73,230
Investment managers interest 79 1,584
73,220 74,814
4. RAISING FUNDS
Investment management costs
2022 202'I
E F
Portfolio management 17,689 17,794
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
(see note costs (see
6) note 7) Totals
E E F
Charitable activities 75,000 40,887 118887
6. GRANTS PAYABLE
2022 2021
E
Charitable activities 75000 720,000
2022 2021
E E
Courtauld Institute of Art - Annual Grant 75,000 70,000
Courtauld Institute of Art - Special Grant 650,000
75,000 720,000
7. SUPPORT COSTS
Governance
costs
F
Charitable activities ~40 887

Unrestricted Restricted Total
funds funds funds
E E F
INCOME AND ENDOWMENTS FROM
Investment
income		 74,814 74,814
EXPENDITURE ON
Raising funds 17,794 17,794
Charitable
activities
Charitable
activities		 759,351 759,351
Total 777,145 777,145
Net gains on investments 811,425 811,425
NET INCOME 109,094 I09,094
RECONCILIATION OF FUNDS
Total funds brought forward 4,659,163 10,732 4,669,895
TOTAL FUNDS CARRIED FORWARD 4,755,257 10,732 4,778,989

Listed
investments
f
MARKET VALUE
At 1 August 2021 4,742,253
Additions 1,172,163
Disposals
Unrealised
gains/(losses)		 (1,349,657)
~67261)
At 31 July 2022 4,497496
NET BOOK VALUE
At 31 July 2022 4,497,498
At 31 July 2021 4742,253
At31"July 2022, the split ofthe investments
was a		 s follows:
Listed
investments
f
Equities 2,894,564
Bonds 292,476
Multi Assets 80,648
Alternatives 1 229,810
4497498

CREDIT ORS: AM OU NTS
FALLING DUE WITHIN		 ONE YEAR
2022
f		 2021
f
Courtauld Institute of Art 75,000 70,000
Accrued expenses 36,570 7,633
111570 77,633

NIOVEINEN T
IN FUNDS
Nel Transfers
&1lovernent between At
At '1.8.21 in funds funds 3 1.7.22
E E
Unrestricted funds
General
fund		 4,700,056 t127,617) (31,251) 4,541,188
Aquisitions Fund 59,132 25,000 84,132
Maintenance Grant 9,069 6,251 15,320
4,768,257 (127,617) 4,640,640
Restricted funds
Lillian Lines Fund 10,732 10&732
TOTAL FUNDS 4,778,989 ~187,817& 4,651,372

Net moveme n t
in funds,
Includ		 ed
in the a		 bove are as follo ws:
Incoming Resources Gains and Movement
resources expended losses in funds
E F F
Unrestricted funds
General
fund		 73,220 (133,576) (67,261) (127,617)
TOTAL FUNDS 73,220 ~133576) ~67 261) )&27,6&7)
Comparatives for movement in funds
Net Transfers
movement between At
At 1.8.20 in funds funds 31.7.21
E
Unrestricted funds
General
fund		 4,619,639 109,094 (28,677) 4,700,056
Aquisitions Fund 39,132 20,000 59,132
Maintenance Grant 392 8,677 9,069
4,659,163 109,094 4,768,257
Restricted funds
Lillian Lines Fund 10,732 10,732
TOTAL FUNDS 4,669,895 109,094 4,778,989
Compara tive net movement
in fu		 nds,
included
in the above		 are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
F F F F
Unrestricted funds
General fund 74,814 (777, 'I 45) 811,425 109,094
TOTAL FUNDS 74,814 ~777,145) 811,425 109,094