## ## |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|