2023-03-31-accounts

Contents		Page
Reference and Administration Details
Report ofthe	Council ofManagement	2-6
Independent	Examiner's report
Statement of	financial activities forthe year ended 31March 2023
Balance sheet
Notes tothe financial statements
Statement of	financial activities for the year ended 31March 2022 (prior year)	18

			Note	Unrestricted	Restricted	Expendable	Total	Total
						Endowment	2023	2022
					E	f	E
Income and endowments	from:
Donations and legacies:
Gifts-in-kind				4,780			4,780	3,225
Donations
Charitable activities:
Royalties and similar income				388				361
Investment income				46,044			46,044	42,177
Total income				51,212			51,212	45,763
Expenditure on:
Raising funds:
Investment management		fees				15,923	15,923	18,570
Charitable activities:
Direct costs			6(a)	164,977			164,977	160,305
Support costs			6(b)	8,020			8,020	6,515
Total expenditure				172,997		15,923	188,920	185,390
Net Incoine/(expenditure)		before	Investinent
gains and losses				(121,785)		(15,923)	(137,708)	(139,627)
Gains/(losses) on investments:
Realised gains/(losses)						(115,033)	(115,033)	15,323
Unrealised gains/(losses)						(102,994)	(102,994)	118,973
						(218,027)	(218,027)	134,296
Net (expenditure) for the	year			(121,785)		(233,950)	(355,735)	(5,331}
Transfers between funds			20)	177,164		(177,164)
Net movement in funds				55,379		(411,114)	(355,735)	(5,331)
Fund balances brought forward				198,331		3,023,556	3,221,887	3,227,218
Fund balances carried forward				253,710		2~612~442	2g866g152	3221887

Balance	sheet	at	31March 2023
				Note	2023	2022
					f	f
Fixed assets
Investments					2,612,442	3,023,556
Heritage assets					249,552	240,847
					2,861,994	3,264,403
Current assets
Debtors and	prepayments			10	790
Cash at bank	and in	hand			35,750	20,504
					36,540	20,504
Creditors: amounts		falling due within one year			(32,382)	(63,020)
Net current	assets/(liabilities)				4,158	(42,516)
Net assets				14	2,866,152	3,221,887
Represented Expendable	by the funds ofthe charity: Endowment Fund				2,612~2	3,023,556
Restricted Fund
Unrestricted	Income	Fund			253,710	198,331
					2,866,152	3,221,887

Investment income	Investment income		2023	2022
			E	E
Income from listed	fixed asset investments	- UK	21,945	24,325
		-Overseas	13,254	11,782
Interest receivable	- UK		3,010	5,355
	-Overseas		2,270	715
Other investment	income		5,565
			46,044	42,177

6.	Charitable activities						2023	2022
							E	E
	(a) Maintenance, conservation			and development
	ofthe Collection
	Payments tothe	Foundling		Museum
	Annual Grant						41,094	38,015
	Grant to cover staff costs						56,855	53,799
	Service charges						56,784	59,677
	Maintenance	ofthe Collection					7,500	7,384
							162,233	158,875
	Conference						2,744
	Cataloguing							1,430
							164,977	160,305
	Other Grants to	the Foundling			Museum
							164,977	160,305
							2023	2022
							E	E
	(b) Support costs
	Independent	examination			(governance	cost)	2,423	2,286
	Accounting and related			services			5,065	3,600
	Trustees' travelling		expenses to meetings				274	261
	Website and	online storage			costs		111	255
	Printing, postage and stationery						54	73
	Bank charges						80	40
	Office and sundry		expenses				13
							8,020	6,515

8.	Investments	Investments							2023	2022
									E	E
	Investments at market value				at 31	March 2023			2,611,527	3,015,670
	Cash held	by investment	managers						915	7,886
									2,612,442	3,023,556
	Movements in investments			are as		follows:
									2023	2022
									E	E
	Valuation	at 1April 2022							3,015,670	3,005,296
	Additions	in the year							1,631,598	304,597
	Less: Opening market value				ofdisposals,		being:
	Disposal	proceeds in the		year					1,817,715	428,519
	Adjustment for realised			losses/(gains)			on those disposals		115055	~15323
									(1,932,74$)	(413,196)
	Unrealised	(losses)/gains		in the year					(102,994)	118,973
	Valuation	at 31March 2023							2,611,527	3,015,670
	The valuation at 31March 2023comprises investments							listed on a recognised stock exchange as follows:
									2023	2022
									E	E
	UK equities								331,514	499,199
	UK fixed interest (sterling			bonds)					339,58$	432,208
	Bonds —other currencies								83,662
	Global equities								398,530	361,892
	Overseas	equities							931,2&4	1,261,679
	Alternative	and multi-asset			investments				350,468	274,907
	Property								176,481	185,785
	Valuation	at 31March 2023							2,611,527	3,015,670
									E	E
	Historical	cost of the investments				at 31	March 2023		2,469,144	2,283,905

year ended	3	1March 2023
Heritage assets
Handel Subsidiary	Collection		2023	2022
			E	E
Cost
At 1April 2022			240,847	228,757
Additions - including		gifts valued at E4,780(2022: E3,225)	8,705	12,090
31March 2023			249,552	240,847

Debtors: amounts	Debtors: amounts	falling due within one year	2023	2022
			E	E
Prepayments	and accrued income		790
Creditors: amounts		falling due within one year	2023	2022
			E	E
Accruals			32,382	63,020
Related party	transactions

At 31March	2023
					Net gains/
		Balance at			(losses) on		Balance at
		01/04/22	Income	Expenditure	investments	Transfers	31/03/23
					E	E
Expendable fund	endowment	3,023,556		(15,923)	(218,027)	(177,164)	2,612~2
Restricted fund
Unrestricted	fund	198,331	51,212	172,997)		177,164	253,710
		3,221,887	51,212	(18$,920)	(218,027)		2,866,152
At 31March	2022
					Net gains/
		Balance at			(losses) on		Balance at
		01/04/21	Income	Expenditure	investments	Transfers	31/03/22
Expendable	endowment
fund		3,015,508		(18,570)	134,296	(107,678)	3,023,556
Restricted fund		5,000				(5,000)
Unrestricted	fund	206,710	45,763	(166,820)		112,678	198,331
		3,227,218	45,763	(185,390)	134,296		3,221,887

Analysis ofNet Assets between Funds	Analysis ofNet Assets between Funds
Fund balances at 31March 2023are represented by:
	Unrestricted	Restricted	Expendable
	income fund	fund	endowment	Total
	E	E	E	E
Fixed asset investments			2,612,442	2,612~2
Heritage assets	249,552			249,552
Current assets	36,540			36,540
Current liabilities	(32,382)			(32,3$2)
Net assets	253,710		2,612,442	2,866,152
	16

Fund ba	lances at 31March 202	2 are represented by:
		Unrestricted	Restricted	Expendable
		income fund	fund	endowment	Total
		E	E	E	E
Fixed asset investments				3,023,556	3,023,556
Heritage	assets	240,847			240,847
Current	assets	20,504			20,504
Current	liabilities	(63,020)			(63,020)
Net assets		198,331		3,023,556	3,221,887

account) for the	y	ear ended 31M	arch 2022 -	Prior Year	comparativ	e figure
		Note	Unrestricted	Restricted	Expendable	Total
					Endowment	2022
			f	f	E	f
Income and endowments	from:
Donations and legacies:
Gifts-in-kind			3,225			3,225
Donations
Charitable activities:
Royalties and similar income			361			361
Investment income			42,177			42,177
Total income			45,763			45,763
Expenditure on:
Raising funds:
Invesbnent management		fees			18,570	18,570
Charitable activities:
Direct costs		6(a)	160,305			160,305
Supportcosts		6(bl	6,515			6,515
Total expenditure			166,820		18,570	185,390
Net income/(expenditure)		before investment
gains and losses			(121,057)		(18,570)	(139,627)
Gains/(losses) on investments:
Realised gains/(losses)					15,323	15,323
Unrealised gains/(losses)					118,973	118,973
					134,296	134,296
Net income/(expenditure)		for the year	(121,057)		115,726	(5,331)
Transfers between funds		20)	112,678	(5,000)	(107,678)
Net movement ln funds			(8,379)	(5,000)	8,048	(5,331)
Fund balances brought forward			206,710	5,000	3,015,508	3,227,218
Fund balances carried forward			198,331		3,023,556	3,221,887