|Trusteesand Advisers|3|
|---|---|
|Reportofthe Trustees|4|
|StatementofTrustees'Responsibilities|6|
|ReportoftheIndependentExaminer|7|
|StatementofFinancialActivities|8|
|BalanceSheet|9|
|NotestotheFinancialStatements|10|
|Including AccountingPolicies||





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||£||
|---|---|---|
|GuildhallSchoolofMusic|5,000|Bursariesformusicstudents|
|Schoolreaders|5,000|Readingforschoolchildren|
|GatheringoftheClans|6,000|Bursariesformusicstudents|
|UniversityofBristol|5,000|CardiovascularresearchPhD|
|||programme|
|UniversityofNottingham|5,000|Breastcancer research|
|UniversityofExeter|5,000|DiabetesresearchPhDstudents|
||31,000||



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||**Note **|**2022**|**2021 **|
|---|---|---|---|
|||£|£|
|||**Unrestricted **|**funds **|
|**Incoming Resources from Generated **||||
|**Funds **||||
|Bankinterest||250|572|
|Investnlentincome||35,635|29,108|
|**Total Incoming Resources **||35,885|29,680|
|**Resources Expended **||||
|**Cost of Activities in furtherance of: **||||
|Charitableexpenditure||(31,000)|(30,000)|
|**Governance costs: **||||
|Auditandaccountancy||(861)|(700)|
|Bankcharges||(363)|(272)|
|Custodyfees||{1,438)|{1,309)|
|||{2,662)|{2,281)|
|**Total Resources Expended **||{33,662)|{32,281)|
|**Net (outgoing)/ incoming resources for **<br>**the year **||2,223|(2,601)|
|Realisedand unrealisedgains/(losses)on<br>investmentassets|2|52,643|105,260|
|**Net movement **in**funds **||54,866|102,659|
|Fundsbroughtforwardatbeginningofyear||1,207,608|1,104,949|
|**Funds carried forward at endof Year **||1,262,474|1,207,608|





## 

||**Note **|**2022**|**2021 **|
|---|---|---|---|
|||£|£|
|**Fixed Assets **|6|957,183|923,060|
|**Current Assets **||||
|Cashatbank||||
|Deposit||250,375|250,125|
|Current||55,471|52,062|
|Held byinvestmentmanager||21,286|3,061|
|||327,132|305,248|
|**Creditors: **amountsfallingduewithinone||||
|year||||
|Accruals||(841)|(700)|
|Grantspayable||{21,000}|{20,000}|
|Totalcreditors||{21,8412|{20,700}|
|Netcurrentassets||305,291|284,548|
|**Net Assets **||1,262,474|1,207,608|
|**Unrestricted Funds **||1,262,474|1,207,608|





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## 

||**2022**|**2021 **|
|---|---|---|
||£|£|
|Realisedinvestmentgains/(losses)<br>Unrealisedinvestmentgains/(losses)|5,984<br>46,659|739<br>104,521|
||52,643|105,260|





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## 

||**2022**|**2021 **|
|---|---|---|
||`£`|`£`|
|**Quoted investments: **|||
|Marketvalueat1April2021|923,060|803,302|
|Additionsatcost||59,680|
|Disposalsatvaluation|(18,520)|(45,182)|
|Realised/unrealisedinvestmentgains/(losses)|52,643|105,260|
|Marketvalueat31March2022|957,183|923,060|





|**No. **|**Holding **|**2022**|**2021 **|
|---|---|---|---|
|||£|£|
|40,000|IntermediateCapitalGroup%Snr24/3/23|40,700|42,700|
|30,000|ParagonBankingGroupSnr28/8/24|32,205|33,113|
|45,000|UKGovtGilts2%Snr7/9/25|45,927|48,389|
|40,000|Whitbread3.375%Snr16/10/25|40,193|42,172|
|28,000|FILInvestmentManagement(Lux)SAY|29,064|31,276|
|285|IsharesVIITreasury|28,542|28,707|
|4,824.44|JupiterUnitTrustDynamicBondI|50,850|54,227|
|1,250|Experian|36,888|31,212|
|8,300|BalfourBeatty|21,331|24,502|
|1,300|BHP|38,376|27,229|
|5,500|BP|20,644|16,206|
|1,300|BritishAmericanTobacco|41,529|36,062|
|1,000|Diageo|38,635|29,895|
|190|FergusonPLC|19,722|16,469|
|1,900|Glaxosmithkline|31,297|24,472|
|550|IntercontinentalHotels|28,545|27,362|
|225|Intertek|11,754|12,604|
|47|JacksonFinancialInc|1,581||
|1,900|M&G|4,203|3,941|
||MorrisonsSupermarkets||11,768|
|3,500|National Grid|41,034|30,240|
|500|Next|30,160|39,330|
|1,900|Prudential|21,546|29,269|
|1,600|Relx|38,128|29,104|
|650|RioTinto|39,526|36,075|
|1,200|RoyalDutchShell|25,302|16,020|
|4,000|SageGroup|28,048|24,5i2|
|2,000|Smith&Nephew|24,400|27,560|
|2,750|SSE|48,083|40,012|
|4,000|Tate&Lyle|29,288|30,688|
|625|Unilever|21,594|25,350|
|937|Whitbread|26,770|32,102|
|330|PolarCapitalFundGlobalTech|21,318|20,492|
|||957,183|923,060|