2022-12-31-accounts

Reference and Administrative	Details
Trustees' report
Trustees' responsibilities
Independent examiner's report
Statement offinancial activities
Balance sheet
Notes to the financial statements

			Michael Robertson	Michael Robertson	Scholarship	Scholarship	Scholarship	Fund
			Reference and Administrative					Details
Charity name			Michael Robertson		Scholarship		Fund
Charity registration		number	1014388
Princi pa Ioffice			Rosebank
			15A Scotby Village
			CARLISLE
			CA4 888
Registered	office		Rosebank
			15AScotby Village
			CARLISLE
			CA4 8BS
Trustees			Dr R Baxter	(Resigned		21 February 2022)
			J Light
			S Ellis
			N Martin
			JWhittle	(Appointed		15	November 2022)
Bankers			Barclays Bank	Pic
			9Highgate
			KENDAL
			LA9 4DA
Accountant			Dodd &Co Limited
			FIFTEEN Rosehill
			Montgomery Way
			Rosehill Estate
			CARLISLE
			CA1 2RW
Investment	Advisor		JM Finn
			4 Copthall Avenue
			LONDON
			EC2R TAH

						Unrestricted	Endowment	Total Funds	Total Funds
						Funds	Funds	2022	2021
					Note
Income
Investments						73	232,361	232,434	238,477
Other income						200		200
Total income						273	232,361	232,634	238,477
Expenditure
Raising funds							22,854	22,854	23,334
Charitable activities						389.393		389,393	27,916
Total expenditure						389,393	22,854	412,247	51,250
Gross transfers	between		funds			158,530	(158,530)
Gains/(losses)	on investment			assets			(1,138,212)	(1,138,212)	686,239
Net income/(expenditure)						(230,590)	(1,087,235)	(1,317,825)	873,466
Reconciliation	of	funds
Total funds brought		forward				321,446	6,844,485	7,165,931	6,292,465
Total funds carried		forward				90,856	5,757,250	5,848,106	7,165,931

				2022		2021
			Note
Fixed assets
Investments					5,698,505		6,828,620
Current assets
Cash at bank	and in	hand		152,877		340,587
Creditors: Amounts one year		falling due within	9	(3,276)		(3,276)
Net current assets					149,601		337,311
Net assets					5,848,106		7,165,931
The funds ofthe charity:
Endowment	funds				5,757,250		6,844,485
Unrestricted	funds
Unrestricted income		funds			90,856		321,446
Total charity	funds				5,848,106		7,165,931

		Unrestricted	Endowment	Total Funds	Total Funds
		Funds	Funds	2022	2021
		E	6	K	K
Dividend	income		219,181	219,181	212,478
Gross bond interest			13,165	13,165	25,991
Gross bank interest		73	15	88	8
		73	232,361	232,434	238,477

		Unrestdcted	Endowment	Total Funds	TotalFunds
		Funds	Funds	2022	2021
		6	K	6	6
Other	income
Other	income	200		200

4	Expenditure
				in	t	t	Furtherance ofeducation	Total 2022	Total 2021
	Direct costs
	Scholarships						380,976	380,976	23,701
	Administration	of investments			22,854			22,854	23,334
					22,854		380,976	403,830	47,035
	Supportcosts Insurance						546	546	533
	Trustees' expenses						251	251	413
	Accountancy	fees					2,620	2,620	2,769
	Independent	examiner's	fee				500	500	500
	Legal and professional		fees				4,500	4,500
							8,417	8,417	4,215
						22,854	389,393	412,247	51,250

			2022		2021
			6
Legal and professional		fees	4,500
Accountancy	fees		2,620		2,769
Independent	examiner's	fee		500		500
				~	3,266

				Listed
				investments
	I/iarket value
	As at 1 January 2022			6,828,620
	Revaluation			(1,138,212)
	Additions			818,364
	Disposals As at 31 December2022			(810,267) 5,698,505
	Net book value
	As at 31 December 2022			5,698,505
	As at 31 December 2021			6,828,620
	Investment assets can be further analysed as follows:
			UK	Overseas
				8
	Listed investments		3,567,398	2,131,107
			3,567,398	2,131,107
9	Creditors: Amounts	falling due within one year
			2022	2021
			8	8
	Accruals and deferred	income	3,276	3,276

						Other
		At 1				recognised	At 31
		January	Incoming	Resources		gains I	December
		2022	resources	expended	Transfers	losses	2022
Generalpunds
Unrestricted	income
fund		321,446	273	(389,393)	158,530		90,856
Permanent
Endowment
Permanent
endowment		6,844,485	232,361	(22,854)	(158,530)	(1,138,212)	5,757,250
		7,165,931	232,634	(412,247)		(1,138,212)	5,848,106

		At 1 January 2021	Incoming resources	Incoming resources	Resources expended	Resources expended	Other recognised gains / losses	Other recognised gains / losses	At 31 December 2021
General Funds
Unrestricted income fund		110,885	238,477			(27,916)			321,446
Permanent Endowment
Permanentendowment		6 181580				(23,334)	686,239		6,844,485
		6,292,465	238,477			(51,250)	686,239		7,165,931
Total return on investmenta
			Trust for investment			Unapplied return	total	Total	endowment
			E			E			5
At 1 January 2022			3,643,557			3,200,928			6,844,485
Movements in reporting pediod:
Investment income							232,361		232,361
Investment return: realised gains/losses	and	unrealised				(1,138,212)			(1,138,212)
Less: investment management		costs					(22,854)		(22,854)
Total						(928,705)			(928,705)
Unapplied total return allocated in the reporting pediod		to income				(158,530)			(158,530)
Net movements in the reporting		period				(1,087,235)			(1,087,235)
As at 31 December 2022				3,643,557		2,113,693			5,757,250

		Unrestricted	Endowment	TotalFunds	TotalFunds
		Funds	Funds	2022	2021
			8
Investments			5,698,505	5,698,505	6,828,620
Current assets		94,132	58,745	152,877	340,587
Creditors: Amounts within one year	falling due	(3,276)		(3,276)	(3,276)
Net assets		90,856	5,757,250	5,848,106	7,165,931
Prior period
		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Funds	2021	2020
					8
Investments			6,828,620	6,828,620	6,158,296
Current assets		324,722	15,865	340,587	137,296
Creditors. Amounts one year	falling dus within	(3,276)		(3,276)	(3,127)
Net assets		321,446	6,844,485	7,165,931	6,292,465

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