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|Trustees'|Annual<br>Report||2-4|
|Independent<br>Examiner's||Report||
|Statement|of Receipts and Payments|||
|Statement|ofBalances|||
|Notes to the Accounts||||





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||||Note|Restricted|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|endowment|funds|funds|
||||||funds|2022|2021|
|Receipts||||||||
|Dividends<br>received||||64,457||64,457|70,244|
|Investments<br>income||||40,035||40,035|22,685|
|HMRC Refund|||||||569|
|Sub Total||||104,492||104492|93498|
|Receipts from asset 8 investment||||||||
|sales||||||||
|Proceeds from sale ofinvestments||||||||
|less amount<br>reinvested|||||(4,487)|(4,487)|94,913|
|Total receipts||||~104 $2||||
|Payments||||||||
|Payments<br>made to beneficiaries||||134,052||134,052|117,010|
|Governance costs:||||||||
|Trustees fees|||||36,995|36,995|41,421|
|Independent<br>examination||fee|||1,224|1,224|1,170|
|Porffolio management|fee||||13,523|13,523|12,107|
|Total payments||||134052||||
|Net receipts I(payments)||||(29,560)|(56,229)|(85,789)|16,703|
|Transfers to I (from) funds||||||||
|Surplus/(Deficit)<br>for year||||29,660|56,225|~8578616,703||





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|||Restricted|Restricted||Expendable|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||funds||endowment||funds|funds|
|||||||funds|2022<br>K|2021f|
|Cash funds|||||||||
|Cash and|bank balances|at start ofyear|150,053|||130,482|280,535|263,832|
|Surplusl(deficit)<br>shown on receipts and|||||||||
|payments|account||(29,560)|||(56,229)|(85,789)|16,703|
|Cash and|bank balances at end ofyear||120,493|||74253|194,746|280,535|
||||||||Market valuation||
||||||||2022|2021|
|||Fund to which|||asset|belongs|||
|Investments|||||||||
|Brown Shipley Investment||Portfolio:|||||||
||Fixed interest|Expendable||endowment|||795,652|608,811|
||Equities|Expendable||endowment|||2,384,166|2,587,312|
||Alternatives|Expendable||endowment|||216,272|428,669|
|Total value ofsecurities|||||Total||3396090|3624 792|
||||||||2022|2021|
|Assets|||||||||
|Tax paid on investments||that will be reclaimed|||||||
||Prior years||||||962|962|
||||||||962|962|
|Liabilities|||||||||
|Examiner|Fees owed to Azets Audit Services||||||1,344|1,224|
|Trustee Fees owed to Apex Corporate Trustees|||(UK) Limited||||300|300|
||||||||1 644|1 624|





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|Payments|made to beneficiaries|||
|---|---|---|---|
|||2022|2021|
|Fight for Sight - Institute ofOphthalmology||40,000|40,000|
|Moorfields|Eye Charity|40,000|30,000|
|Roper Hall|Eye Foundation|54,052|47,010|
|||134 052|112010|



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|||||Market|Valuation|
|---|---|---|---|---|---|
|||||2022|2021|
|Investments<br>that Individually|||make up 5%+ofthe portfolio:|E||
|Baillie Gifford American||Fund B|Income||191,079|
|Fundsmith|LLP Equity|INC NAV||183,894|198,332|
|J P Morgan|US Equity|Income Fund||216,577|193,394|
|||||400421|552505|