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Balance Sheet at 31 December 2003
2003 2002
Investments £ £
Investments 51,907 35,296
Deposits 33,693 29,599
Total investments 85,600 64,895
Current assets
Debtors 10,971 7,805
Cash at bank 803 1,038
Total current assets 11,774 8,843
Creditors 2,494 2,093
Net current assets/(liabilities) 9,280 6,750
Net assets 94,880 71,645
Fund 94,880 71,645
ABRIDGED REPORT OF THE TRUSTEES
OF THE CHARITABLE TRUST FOR
THE YEAR ENDED 31 DECEMBER 2003
Trustees
The current trustees are the Officers of the Association,
namely Christopher Rhys-Jones, Richard Sullivan, David Hindley
and Colin Hughes
Objects
The objects of the trust are set out in the trust deeds. In
summary they include the relief of poverty amongst former
pupils of King’s School, Bruton and their immediate dependents,
the provision of scholarships to pupils at the School, prizes
based on educational merit to pupils or former pupils and
awards to pupils showing outstanding ability in art, drama,
music, sport and leadership, and such other related charitable
purposes as the trustees unanimously agree.
Activities
During the year the trustees made the following awards to
further the objects of the trust:
(a) two scholarships, each of £750 for five years from
September 2003,
(b) four educational prizes of £25 each to pupils at the
School, and
(c) two further education prizes of £100 each to former pupils,
each of whom gained a double first class honours degree
at Oxford University.
(d) a leadership award of £200.
A total of £2,750 was paid out in 2003 in respect of
scholarships awarded.
Donations
The covenanted donation from the Association in respect of
2003 amounted to £2,200. Other donations amounted to £4,107
for the Unrestricted Fund and £1,538 for the Permanent
Endowment Fund. These figures include the benefit of any tax
relief under Gift Aid.
The trustees gratefully acknowledge all these donations.
Accounts
Net incoming resources amounted to £5,838 for the year 2003
compared with £3,404 in 2002. These amounts are after making
ACCOUNTS
charitable expenditure of £3,250 in 2003 and £1,425 in 2002
respectively. At 31 December 2003 the net assets stood at £38,587,
of which £31,854 belonged to the Unrestricted Fund and £6,733 to
the Permanent Endowment Fund.
Independent Examiner
The trustees gratefully acknowledge the work carried out by
John Graves as Independent Examiner of the trust’s accounts.
OLD BRUTONIAN ASSOCIATION
CHARITABLE TRUST
Registered Number: 284570
Statement of Financial Activities for the year ended 31 December 2003
Unrestricted Endowment Total Total
Fund Fund 2003 2002
£ £ £ £
Incoming resources
Donations 6,307 1,538 7,845 3,712
Investment income 1,243 0 1,243 1,117
Total incoming resources 7,550 1,538 9,088 4,829
Resources expended
Charitable expenditure:
Grants payable 3,250 0 3,250 1,425
Total resources expended 3,250 0 3,250 1,425
Net incoming resources 4,300 1,538 5,838 3,404
Gain/(loss) on investments 1,500 769 2,269 (2,096)
Net movement in funds 5,800 2,307 8,107 1,308
Funds as at 1 January 26,054 4,426 30,480 29,172
Funds as at 31 December 31,854 6,733 38,587 30,480
Balance Sheet at 31 December 2003
Unrestricted Endowment Total Total
Fund Fund 2003 2002
£ £ £ £
Investments
Equities
investment fund 10,682 6,392 17,074 13,608
Deposits 19,605 200 19,805 14,580
Total investments 30,287 6,592 36,879 28,188
Current assets
Debtors 2,934 141 3,075 1,797
Cash at bank 6 0 6 495
Total current assets 2,940 141 3,081 2,292
Creditors 1,373 0 1,373 0
Net current
assets/(liabilities) 1,567 141 1,708 2,292
Net assets 31,854 6,733 38,587 30,480
Funds 31,854 6,733 38,587 30,480
OLD BRUTONIAN ASSOCIATION NEWSLETTER 2004 13