Valentlne Charltable Trust Flnanclal Statements 30 September 2022 ## |||Page| |---|---|---| |Legal and administrative|information|| |Trustees'
report||| |Independent
auditors'|report to the trustees|| |Statement
offinancial|activities|13| |Balance sheet||14| |Cash flow statement||1S| |Notes to the financial statements||16| ## ## |Trustees|||The trustees
who served during the year were:|The trustees
who served during the year were:|The trustees
who served during the year were:|The trustees
who served during the year were:|The trustees
who served during the year were:| |---|---|---|---|---|---|---|---| ||||Mr DJ E Neville-Jones||||| ||||Mrs SC K Patterson||||| ||||Mr R A Gregory||||| ||||Mr P Leatherdale||||| ||||Wing Commander||D A Jack||| ||||Mrs SJ Ridley||||| ||||Ms F Normington-Smith||||| ||||Mrs D M A Tory|(Retired||28'"|October 2021)| |Principal|Address||Hinton
House||||| ||||Hinton
Road||||| ||||Bournemouth||||| ||||BH1 2EN||||| |Auditors|||Saffery Cham pness||LLP||| ||||Midland
House||||| ||||2 Poole Road||||| ||||Bournemouth||||| ||||BH2 SQY||||| |Bankers|||Lloyds Bank Pic||||| ||||45-47 Old Christchurch|||Road|| ||||Bournemouth||||| ||||BH1 1ED||||| |Solicitors|||Preston
Redman||||| ||||Hinton
House||||| ||||Hinton
Road||||| ||||Bournemouth||||| ||||BH1 2EN||||| |Investment||Managers|Charles Stanley|gr Co. Limited|||| ||||2 Westover
Road||||| ||||Bournemouth||||| ||||Dorset||||| ||||BH1 2BY||||| ||||Investec Wealth|&Investment|||Limited| ||||Midland
House||||| ||||2 Poole Road||||| ||||Bournemouth||||| ||||BH2 SQY||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Unrestricted|Unrestricted|Unrestricted|Unrestricted| |---|---|---|---|---|---|---|---|---|---| |||||||capital|Income|funds|funds| |||||||fund|fund|total|total| ||||||Note|2022|2022|2022|2021| |||||||E|E|E|E| |INCOME|||||||||| |Investment
income|||||||1,067,503|1,067,503|986,127| |Total income|||||||1,067,503|1,067,503|986,127| |EXPENDITURE|||||||||| |Charitable
activities|||||||||| |Grants awarded
in the year|||||||868,000|868,000|710,500| |Support costs|||||||46,135|46,135|41,497| |Cost of raising funds|||||||||| |Investment
management|||fees|||60,175|60,175|120,350|110,156| |(excluding commissions)|||||||||| |Total expenditure||||||60,175|974,310|1,034,485|862,153| |Realised (loss)/gain|on investment|||assets|8|(8,156)||(8,156)|502,056| |Unrealised
(loss)/gain||on|investment||||||| |assets|||||8|(4,251,841)||(4,251,841)|5,111,506| |Net movement
in funds||||||(4,320,172)|93,193|(4,226,979)|5,737,536| |Total funds brought||forward|||11|39,444,317|140,667|39,584,984|33,847,448| |Total funds carried forward|||||11|35,124,145|233,860|35,358,005|39,584,984| ## ## ||||Note|2022|2021| |---|---|---|---|---|---| |||||F.|6| |Fixed assets|||||| |Tangible fixed assets||||1,059,058|1,059,058| |Investments||||32,885,569|36,896,382| |||||33,944,627|37,955,440| |Current assets|||||| |Other debtors and prepayments||||474,136|458,679| |Cash at bank||||987,243|1,215,181| |||||1,461,379|1,673,860| |Creditors: amounts||falling due within one year|||| |Other creditors and||accruals|10|(48,001)|(44,316)| |Net current|assets|||1,413,378|1,629,544| |Net assets||||35,358,005|39,584,984| |Funds|||||| |Unrestricted|capital|fund||35,124,145|39,444,317| |Unrestricted|income|fund||233,860|140,667| |||||35,358,005|39,584,984| ## ## ||||2022|2021| |---|---|---|---|---| ||||E|f| |Net cash absorbed
by operating
activities||(see note)|21,246|123,195| |Cash flows from investing|activities|||| |Purchase of investments|||(4,714,484)|(4,100,650)| |Disposal proceeds of investments|||4,465,300|4,289,721| |Net cash (used in)/provided|by investing|activities|(249,184)|189,071| |Change
in cash and cash equivalents
in the year|||(227,938)|312,266| |Cash and cash equivalents|at 1October 2021||1,215,181|902,915| |Cash and cash equivalents|at 30September 2022||987,243|1,215,181| ## |NOTE|NOTE|NOTE||| |---|---|---|---|---| |Reconciliation
of net income to net cash flow from||||| |operating
activities||||| |Net (deficit)/ income for the reporting
the statement
ofRnancial activities||period as per|(4,226,979)|5,737,536| |Adjustments
for||||| |(Increase)/ decrease
in debtors|||(15,457)|(981)| |Increase
in creditors|||3,685|202| |Realised losses/ (gains) on investment|assets||8,156|(502,056)| |Unrealised
losses/ (gains) on investment||assets|4,251,841|(5,111,506)| |Net cash absorbed
by operating
activities|||21,246|123,195| |Cash and cash equivalents||||| |Cash at bank and on instant access deposit accounts|||987,243|1,215,181| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2|Investment
Inco|m|e||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| |||||||E|E| ||Dividends|||||990,286|898,748| ||Interest on cash|deposits||||70,120|80,282| ||Rental income|||||7,097|7,097| |||||||1,067,503|986,127| |3|Charitable
activities||||||| ||Grants awarded|in|the year||||| |||||||2022|2021| |||||||E|f| ||360Skills for life|||||15,000|| ||Age UK Dorchester||||||5,000| ||AIM Community|||||10,000|10,000| ||Alabare
Homes for Veterans||||Dorset||5,000| ||Alcohol Education||Trust|||10,000|| ||Andrew
Simpson||Sailing Foundation|||10,000|| ||Anthony
Nolan Trust|||||5,000|15,000| ||Artsreach|||||3,000|3,000| ||Asthma
Relief|||||5,000|| ||Axe Valley &West|||Dorset Ring and Ride Service||10,000|| ||BCP Homelessness|||Action Collaborative||5,000|| ||Blackmore Vale|Charity||||5,000|| ||Carried Forward|||||78,000|38,000| ## ## ## |Grants awarded
in the y|e|ar|(continu|ed)|||| |---|---|---|---|---|---|---|---| |||||||2022|2021| |||||||E|E| |Brought forward||||||78,000|38,000| |Blandford
Food Bank||||||6,000|| |Blandford Opportunity|Group||||||7,000| |Bournemouth
Christians||Alongside||Rough|Sleepers|10,000|10,000| |Bournemouth
Community|||Church|||10,000|8,000| |Bournemouth
Hospital|Charity||||||10,000| |Bournemouth
Parks Foundation||||||5,000|| |Bournemouth
Town Centre|||Detached You||th Work Project|6,000|| |Bournemouth
University||||||4,000|| |Bourne Academy||||||10,000|5,000| |British Refugee Council||||||25,000|| |Burnbake
Trust|||||||5,000| |Bus Stop Club|||||||5,000| |Chase Africa||||||10,000|10,000| |Chernobyl
Children
in Need|||||||4,000| |Chesil Sailability||||||5,000|4,000| |Chesil Sailing Trust||||||5,000|5,000| |Child of Hope||||||5,000|5,000| |Child in Need india (CINI)||UK||||5,000|| |Christchurch
Activities for Young People||||||15,000|7,000| |Citizens Advice Bureau East Dorset||||||15,000|5,000| |Citizens Advice Bureau Purbeck|||||||10,000| |Citizens Advice Central|Dorset|||||5,000|| |Creative
Kids||||||10,000|5,000| |Crimlnon
UK||||||7,500|10,000| |DEMAND||||||5,000|5,000| |Dentaid|||||||10,000| |Diverse Abilities
Plus||||||10,000|| |Dorchester
Community|Plays Association|||||2,500|| |Dorchester
Ik West Dorset|||Scouts||||5,000| |Dorset Blind Association||||||15,000|10,000| |Dorset Childrens
Foundation||||||15,000|| |Dorset Country
Museum|||||||20,000| |Dorset Mind||||||10,000|10,000| |Dorset Parent
Ik Infant Partnership||||||5,000|| |Dorset Race Equality
Council||||||5,000|| |Dorset Reading Partners||||||5,000|3,000| |Dorset Youth Association||||||10,000|10,000| |Faithworks
Wessex||||||5,000|5,000| |Families for Children|||||||10,000| |Family Counselling
Trust||(Dorset)|||||5,000| |Fernheath
Play Association||||||15,000|12,000| |Fine Cell Work||||||5,000|| |Footprints
Project||||||10,000|| |Carried Forward||||||354,000|258,000| ## |3|Grants awarded
In|the year (continued)|the year (continued)|the year (continued)|the year (continued)|the year (continued)||| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| ||||||||E|f| ||Brought forward||||||354,000|258,000| ||Game fk Wildlife Conservation||||Trust||10,000|10,000| ||Gateway Church Poole||||||10,000|| ||Gillingham
Community||Church||||5,000|| ||Grow Peace|||||||5,000| ||Happy Days Children's||Charity||||5,000|| ||Health and Local Food for Families||||||5,000|| ||Home-Start
North|Dorset|||||15,000|| ||Home-Start
West|Dorset|||||15,000|5,000| ||Home-Start
South|East|Dorset||||15,000|10,000| ||Hope Housing
Training||Ik|Support||Ltd|10,000|5,000| ||Hope Church||||||5,000|| ||Horatio's
Garden|||||||5,000| ||Horsecourse
(The)||||||10,000|10,000| ||Inspire Foundation|||||||10,000| ||International
Care|Network|||||20,000|15,000| ||Island Community|Action|||||10,000|| ||Jon Egging Trust||||||10,000|| ||Jubilee Sailing Trust||||||25,000|5,000| ||Koestler Trust|||||||5,000| ||Lewis-Manning
Hospice|||||||20,000| ||Life Education Wessex||||||5,000|5,000| ||Listening
Books||||||6,000|5,000| ||Livability|||||||10,000| ||Live Music Now||||||5,000|5,000| ||Living Paintings|||||||5,000| ||Lyme Regis Development|||Trust|||5,000|5,000| ||MacDougall
Trust|||||||20,000| ||MARS Trust (The)||||||5,000|5,000| ||Mediation
Dorset||||||(3,000)|| ||Medical Aid for Palestlnians||||||10,000|10,000| ||Michaels
Limited||||||2,500|10,000| ||Monty's
Community|Hub||||||10,000| ||MOSAIC||||||15,000|15,000| ||MyTime||||||10,000|10,000| ||New Forest Bike Project||||||5,000|| ||Ombet)a
Yehinga Organisation||||Trust||20,000|| ||Orbis||||||10,000|| ||PACE Trust (The)|||||||5,000| ||Pathways
for All People||||||15,000|15,000| ||People First Forum|||||||7,000| ||Poole Methodists||||||5,000|| ||Poole Museum
Foundation|||||||10,000| ||Poole Waste Not Want||Not||||5,000|| ||Carried forward||||||644,500|515,000| ## |3|Grants awarded
in the|year (continued)|year (continued)|year (continued)||| |---|---|---|---|---|---|---| ||||||2022|2021| ||||||f|E| ||Brought forward||||644,500|515,000| ||Pool Watersports
Library CIC|||||7,500| ||PramaLIFE||||15,000|15,000| ||Prisoners Abroad|||||5,000| ||Purbeck Art Weeks Festival||||3,000|| ||Purbeck Strings||||500|| ||React||||3,500|3,500| ||Read Easy||||10,000|| ||Recoop||||5,000|| ||Recreate Dorset||||5,000|| ||Roald Dahls Mervellous|Children's||Charity||5,000| ||Royal Agricultural
Benevolent||Institute|||5,000| ||Safe and Sound Dorset||||5,000|5,000| ||SA-Yes||||10,000|5,000| ||Safewise|||||5,000| ||Salisbury
Hospice Charity||||5,000|5,000| ||The Samaritans
of Dorset|||||10,000| ||Schoolreaders||||5,000|5,000| ||Second Chance||||10,000|| ||Sedcat||||5,000|| ||Shine Project||||15,000|10,000| ||SMILE Connect||||5,000|2,000| ||Springhead
Trust||||5,000|10,000| ||StJohn ofJerusalem
Eye Hospital|||||10,000| ||StJohn
gr Red Cross Defence Medical Welfare Service||||10,000|| ||StJohns Church Broadstone||||20,000|| ||Stable Family Home Trust||||10,000|| ||Steps to Active Recovery||||4,000|| ||Stormbreak
CIO||||10,000|10,000| ||Swanage
Ik Purbeck Development|||Trust||1,000| ||Tall Ships Youth Trust||||10,000|10,000| ||Truth BeTold||||5,000|5,000| ||Weldmare
Hospice Trust||||25,000|| ||Wessex Cancer Trust||||5,000|5,000| ||Wessex Heritage Trust|||||12,000| ||Wessex Museum
Trust|||||5,000| ||Wheels for Freedom||||7,500|7,500| ||World Medical Fund for Children|||||5,000| ||Wlmborne
Community|Theater||||1,000| ||YMCA (Bournemouth)|||||10,000| ||Young Dorset|||||10,000| ||Youth Resource Services||||10,000|| ||||||868,000|710,500| ## ## ## ||||||||| |---|---|---|---|---|---|---|---| |4|Support Costs||||||| ||||||Note|2022|2021| |||||||6|E| ||Administrative||costs|||35,378|31,280| ||Bank audit fee letter|||||30|30| ||Governance||costs|||10,727|10,187| |||||||46,135|41,497| |5|Governance|costs|||||| |||||||2022|2021| |||||||E|f| ||Audit and|advisory||fees||10,020|8,880| ||Trustees'|indemnity||insurance||707|1,307| |||||||10,727|10,187| ## ## ## ||Freehold| |---|---| ||land and buildings| ||f| |Cost:|| |As at 1October 2021|1,059,058| |Disposals|| |Additions|| |As at 30September 2022|1,059,058| ## ||2022|2021| |---|---|---| ||f|f| |Listed share portfolio||| |Market value as at 1October 2021|36,896,382|31,471,891| |Additions|4,714,484|4,100,650| |Disposal proceeds|(4,465,300)|(4,289,721)| |Realised (losses)/ gains on disposal
Unrealised
(losses)/ gains on revaluation|(8,156)
~4, 281,841)|502,056
5,111,506| |Market value as at 30September 2022|32,885,569|36,896,382| |||||||2022|2021| |---|---|---|---|---|---|---|---| |||||||f|f| |Original cost as at 30September 2022||||||28,339,124|27,390,707| |Analysis|oflisted investments||||||| |||||||2022|2021| |||||||F.|f| |Fixed|interest securities|||||4,846,654|5,230,561| |Unit trusts||||||18,671,064|21,176,538| |Equity|shares|||||6,395,408|7,709,276| |Other||||||2,972,443|2,780,007| |||||||32,885,569|36,896,382| |Included|In the listed investments
above are the following|||individual|holdings|at 30September 2022, wh|| |considered to be material.|||||||| |||||||2022|2021| |||||||Market|Market| |||||||Value|Value| |||||||f|f| |L&G Global Inflation||Linked Bond Index C ACC||||569,900|640,200| |FIL Invest Serv European|||GBPAcc|||724,602|774,290| ## ## ||||2022|2021| |---|---|---|---|---| ||||E|E| |Social investment||funding|412,500|412,500| |Prepayments|and|accrued income|61,636|46,179| ||||474,136|458,679| ## |||||2022|2021| |---|---|---|---|---|---| |||||E|E| |Amounts|falling due within one year:||||| |Accruals||||48,001|44,316| |||||48,001|44,316| |Unrestricted|funds||||| ||Balances||||Balances| ||1October|Incoming|Resources|Gain/(Loss)|30September| ||2021|resources|expended|on|2022| ||E|E|E|investments|E| |Current year||||E|| |Capital fund|39,444,317||60,175|(4,259,997)|35,124,145| |Income fund|140,667|1,067,503|974,310||233,860| ||39,584,984|1,067,503|1,034,485|(4,259,997)|35,358,005| ||Balances||||Balances| ||1October|Incoming|Resources|Gain/(Loss)|30September| ||2020|resources|expended|on|2021| ||E|E|E|investments|E| |Prior year||||E|| |Capital fund|33,885,833||55,078|5,613,562|39,444,317| |Income fund|(38,385)|986,127|807,075||140,667| ||33,847,448|986,127|862,153|5,613,562|39,584,984| ## ## ## ||||2022|2021| |---|---|---|---|---| ||||g|f| |One|off|pledges|55,000|55,000| ## ## ## |||||Unrestricted|Unrestricted|Unrestricted| |---|---|---|---|---|---|---| |||||capital|income|funds| |||||fund|fund|total| |||||2021|2021|2021| |||||E|E|f| |INCOME||||||| |Investment
income|||||986,127|986,127| |Other income||||||| |Total income|||||986,127|986,127| |EXPENDITURE||||||| |Charitable
activities||||||| |Grants awarded
in the year|||||710,500|710,500| |Support costs|||||41,497|41,497| |Cost ofraising funds||||||| |Investment
management|fees|||55,078|55,078|110,156| |(excluding
commissions)||||||| |Total expenditure||||55,078|807,075|862,153| |Realised gain on investment||assets||502,056||502,056| |Unrealised
gains on investment|||assets|5,111,506||5,111,506| |Net movement
in funds||||5,558,484|179,052|5,737,536| |Fund balances
brought|forward|||33,885,833|(38,385)|33,847,448| |Fund balances carried forward||||39,444,317|140,667|39,584,984|