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ACCOUNTS
Balance Sheet at 31 December 2004
2004 2003
Investments £ £
Investments 70,415 51,907
Deposits 43,381 33,693
Total investments 113,796 85,600
Current assets
Debtors 0 10,971
Cash at bank 53 803
Total current assets 53 11,774
Creditors 5,993 2,494
Net current assets/(liabilities) (5,940) 9,280
Net assets 107,856 94,880
Fund 107,856 94,880
ABRIDGED REPORT OF THE TRUSTEES
OF THE CHARITABLE TRUST FOR
THE YEAR ENDED 31 DECEMBER 2004
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) a scholarship of £1,500 per annum for five years from
September 2004
(b) five educational prizes of £25 each to pupils at the School,
and
(c) a further education prize of £100 to a former pupil, who
gained a first class honours degree at St Andrews
University.
A total of £4,000 was paid out in 2004 in respect of
scholarships awarded.
Donations
The covenanted donation from the Association in respect of
2004 amounted to £3,012. Other donations amounted to £3,587
for the Unrestricted Fund and £898 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 £4,788 for the year
2004 compared with £5,838 in 2003. These amounts are after
making charitable expenditure of £4,225 in 2004 and £3,250 in
2003 respectively. At 31 December 2004 the net assets stood at
£45,918, of which £37,257 belonged to the Unrestricted Fund and
£8,661 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 2004
Unrestricted Endowment Total Total
Fund Fund 2004 2003
£ £ £ £
Incoming resources
Donations 6,599 898 7,497 7,845
Investment income 1,516 0 1,516 1,243
Total incoming resources 8,115 898 9,013 9,088
Resources expended
Charitable expenditure:
Grants payable 4,225 0 4,225 3,250
Total resources expended 4,225 0 4,225 3,250
Net incoming resources 3,890 898 4,788 5,838
Gain/(loss) on investments 1,513 1,030 2,543 2,269
Net movement in funds 5,403 1,928 7,331 8,107
Funds as at 1 January 31,854 6,733 38,587 30,480
Funds as at 31 December 37,257 8,661 45,918 38,587
Balance Sheet at 31 December 2004
Unrestricted Endowment Total Total
Fund Fund 2004 2003
£ £ £ £
Investments
Equities
investment fund 12,195 8,661 20,856 17,074
Deposits 23,412 0 23,412 19,805
Total investments 35,607 8,661 44,268 36,879
Current assets
Debtors 1,479 0 1,479 3,075
Cash at bank 171 0 171 6
Total current assets 1,650 0 1,650 3,081
Creditors 0 0 0 1,373
Net current
assets/(liabilities) 1,650 0 1,650 1,708
Net assets 37,257 8,661 45,918 38,587
Funds 37,257 8,661 45,918 38,587
OLD BRUTONIAN ASSOCIATION NEWSLETTER 2005 13