|CONTENTS|CONTENTS|||PAGE|
|---|---|---|---|---|
|Trustees|and|professional
advisers|||
|Trustees'|annual
report|||2-9|
|Independent||auditors|report|10 - 12|
|Statement|of|financial|activities|13|
|Statement|of|financial|position|14|
|Notes to|the|financial|statements|15-20|
|The Trustees||Philip Hulme|||
|---|---|---|---|---|
|||Jan Hulme|||
|||Tom Hulme|||
|||Juliet Lyon|||
|||Kate Prideaux|||
|||Sophie Swift|||
|Charity Offices||'Gladsmuir'|||
|||Hadley Common|||
|||Barnet|||
|||Herts.|||
|||EN5 5QE|||
|Auditors||Newton
8 Garner Limited|||
|||Chartered
Accountants|& Registered|Auditors|
|||Building 2|||
|||30 Friern Park|||
|||North
Finchley|||
|||London,
N12 9DA|||
|Accountants||City Tax Consultants|Limited||
|||Building 2|||
|||30 Friern Park|||
|||North
Finchley|||
|||London,
N12 9DA|||
|Bankers||Barclays Bank pic|||
|||One Stanhope Gate|||
|||Mayfair|||
|||London W1K 1AF|||
|Solicitors||Linklaters|||
|||One Silk Street|||
|||London|||
|||EC2Y 8HQ|||
|Investment|Advisers|Goldman
Sachs International|||
|||Plumtree
Court|||
|||23Shoe Lane|||
|||London|||
|||EC4A 4AU|||
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|Cnme and Justice|37.3'/o|(31.4'/o)|
|---|---|---|
|Young People|24.8'/o|(18.3 /o)|
|Social Investment|15.2'/o|(7.6'/o)|
|Local|9.9'/o|(8 4'/o)|
|Medical|5.1'/o|(2 5'/o)|
|Disabilities|4.3'/o|(3.2'/o)|
|Hospices|2.5'/o|(2.4'/o)|
|international|0.9'/o|(26.2 /0)|
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|||||||Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Endowment|Year to|Year to|
|||||Funds|Funds|2023|2022|
||||Note||6|6|F|
|INCOME AND ENDOWMENTS||||||||
|Donations
and legacies|||4||||51,794|
|Investments|||5|6,131,058||6,131,058|4,618,673|
|Other income|||6||||9,348|
|TOTAL INCOME||||6,131,058||6,131,058|4,679,815|
|EXPENDITURE||||||||
|Expenditure
on raising funds:||||||||
|Investment
management|costs||7|(412,033)||(412,033)|(425,446)|
|Expenditure
on charitable|activities||8/9|(3,812,387)||(3,812,387)|(4,216,670)|
|TOTAL EXPENDITURE||||(4,224,420)||(4,224,420)|(4,642,116)|
|Net gains on investments|||14||1,955,939|1,955,939|4,666,643|
|Net income||||1,906,638|1,955,939|3,862,577|4,704,342|
|Transfer between
funds|||15|(1,906,638)|1,906,638|||
||||||3,862,577|3,862,577|4,704,342|
|OTHER RECOGNISED|GAINS AND LOSSES|||||||
|(Losses)/gains
on revaluation||offixed assets|||(55,909,333)|(55,909,333)|56,706,149|
|NET MOVEMENT
IN FUNDS|||||(52,046,756)|(52,046,756)|61,410,491|
|RECONCILIATION
OF FUNDS||||||||
|Total Funds brought
forward|||||348,631,019|348,631,019|287,220,528|
|TOTAL FUNDS CARRIED FORWARD|||||296,584,263|296,584,263|348,631,019|
||||31S|TMARCH 2023|||||
|---|---|---|---|---|---|---|---|---|
|||||2023|||2022||
||||Note|E|||||
|FIXEDASSETS|||||||||
|Tangible assets|||16|18,997||||27,441|
|Investments|||17|296,223,176|||347,489,236||
|||||296,242,173|||347,516,677||
|CURRENT ASSETS|||||||||
|Cash at bank||||359,160|1,158,879||||
|||||359,160|1,158,879||||
|CREDITORS: Amounts|falling||||||||
|due within one year|||18|(17,070)||(44,537)|||
|NET CURRENT ASSETS||||342,090||||1,114,342|
|TOTAL ASSETSLESS|CURRENT||LIABILITIES|296,584,263|||348,631,019||
|NET ASSETS||||296,584,263|||348,631,019||
|FUNDS OF THE CHARITY|||||||||
|Endowment
funds|||20|296,584,263|||348,631,019||
|TOTAL CHARITY FUNDS||||296,584,263|||348,631,019||
|These financial
statements,
were signed
on their behalf||having
by:|been approved|by the trustees,|dated;|I3|it--|2- 5|
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|4.|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||6||
||Other voluntary
income||||||51,794|
|5.|INVESTMENT INCONIE|||||2023|2022|
|||||||E|6|
||Income from investment
properties|||||59,673|58,560|
||Income from listed investments|||||5,940,544|4,561,668|
||Income from cash investments|||||130,841|(1,956)|
||Income from other investments||||||401|
|||||||6,131,058|4,618,673|
|6.|OTHER INCOME|||||2023|2022|
||Gains on disposal
oftangible|fixed||assets|||5|
||held for charity's
own use||||||9,348|
|7.|INVESTMENT MANAGEMENT||COSTS|||2023|2022|
|||||||6||
||Portfolio management|||||389,175|405,369|
||Rent collection and investment||property||management|8,539|8,284|
||Property
repairs and maintenance|||charges||14,319|11,793|
|||||||412,033|425,446|
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|The following|is an|analysis|of grants,
including|allocated
support|costs, according|to the categories|to the categories|set|
|---|---|---|---|---|---|---|---|---|
|out in the Trustees'||Report|on page 3||||||
||||||Total Funds||Total Funds||
|||||Support
Governance||Yearto||Year to|
||||Grants|Costs|Costs|2023||2022|
||||6|f||6||F|
|Crime and Justice|||1,299,324|70,670|51,453|1,421,447||1,322,451|
|Young People|||864,898|47,042|34,250|946,190||772,831|
|Social investment|||529,000|28,772|20,948|578,720||321,346|
|Local|||344,838|18,756|13,656|377,250||354,702|
|Medical|||180,000|9,790|7,128|196,918||107,022|
|Disabilities|||150,787|8,201|5,971|164,959||132,988|
|Hospices|||86,000|4,677|3,406|94,083||101,741|
|International|||30,000|1,632|1,188|32,820||1,103,589|
||||3,484,847|189,540|138,000|3,812„387||4,216,670|
|||,
3,484,847|,
189,5|40|138,000|3,812„387|4,216,670|
|---|---|---|---|---|---|---|---|
|9.SUPPORT AND||GOVERNANCE COSTS||||2023|2022|
|The breakdown||of support costs attributable|to chantable|activities|is.|||
|Staff salaries|8|Nl||||172,393|125,358|
|Depreciation||||||8,444|6,332|
|Motor||||||1,422|1,766|
|Office||||||3,143|484|
|Travel||||||4,138|827|
|Governance|costs - Legal, audit &accountancy|||||138,000|146,108|
|||||||327,540|280,875|
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|10.STAFF COSTS AND|EMOLUMENTS|EMOLUMENTS|EMOLUMENTS|||2023|2022|2022|
|---|---|---|---|---|---|---|---|---|
|The aggregate
payroll|costs were:||||||||
|Wages and salanes||||||155,812|114,444||
|Social secunty costs||||||15,460|10,476||
|Employer
contributions|to|pension|plans|||1,321||438|
|||||||172,393|125,356||
|Particulars
ofemployees:|||||||||
|The average
number|of staff employed|||by the charity dunng||the financial year amounted
to:|||
|||||||2023|2022||
|||||||No.|No.||
|Administration|||||||||
|The number
of employees||who earned 560,000 per|||annum|or more|||
|(including
taxable benefits||but excluding||employer's|pension|contributions)|||
|dunng
the year was as follows:||||||2023|2022||
|||||||No.|No||
|560,001 —670,000|||||||||
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|No trustee
had any personal|interest|in any|contract or transaction|entered|into by the charity during|the|
|---|---|---|---|---|---|---|
|year (2022 - Nil)|||||||
|NET INCOME|||||||
||||||2023|2022|
|This is stated after charging:|||||||
|Depreciation|||||8,444|6,332|
|Gains on dispoal oftangible|fixed assets|||||(9,348)|
|AUDITORS REMUNERATION|||||2023|2022|
||||||F|F|
|Audit ofthe financial
statements|||||5,400|4,800|
|NET GAINS ON INVESTMENTS|||||2023|2022|
|||||||6|
|Gains/(Losses)
on cash held|for investment||purposes||(2,331,821)|(327,466)|
|Gains on hsted investments|||||2,654,019|2,643,493|
|Gains on other investments|||||1,533,741|2,350,616|
||||||1,955,939|4,666,643|
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|16.TANGIBLE FIXEDASSETS||Office||||
|---|---|---|---|---|---|
|||Furniture|Equipment|Motor Vehicle|Total|
|COST|||6|6|6|
|At 1stApril 2022||14,831|753|33,773|49„357|
|Additions||||||
|Disposals||||||
|At 31st March 2023||14,831|753|33,773|49,357|
|DEPRECIATION||||||
|At 1st April 2022||14,831|753|6,332|21,916|
|Charge for the penod||||8,444|8,444|
|Disposals||||||
|At 31stMarch 2023||14,831|753|14,776|30,360|
|NET BOOK VALUE||||||
|At 31st March 2023||||18,997|18,997|
|At 31st March 2022||||27,441|27,441|
|17.INVESTMENTS|Cash or|||||
||Cash|Listed|Investment|Other||
||Equivalents
5|Investments
6|Properties
6|Investments
f|Total
6|
|Cost or valuation||||||
|At 1stApril 2022|5,687,189|279,047,293|3,725,000|59,029,754|347,489,236|
|Additions|14,870,292|8,011,051||1,030,825|23,912,169|
|Disposals|(11,886,416)|(5,321,655)||(2,060,825)|(19,268,896)|
|Revaluations
At 31st March 2023|934,335
9,605,400|(52,824,671)
218,912,018|3,725,000|5,981,003
63,980,758|~55,9D9,333)
296,223,176|
|Impairment||||||
|At 1st April 2022 and||||||
|31st March 2023||||||
|Carrying
amount||||||
|At 31st March 2023|9,605,400|218,912,018|3,725,000|63,980,758|296,223,176|
|At 31st March 2022|5,687,189|279,047,293|3,725,000|59,029,754|347,489,236|
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|UK investment
properties
Services Limited.|were revalued
at 3rd April 2022 by Mr. C D|. Scorer ofScorer Property||
|---|---|---|---|
|18.CREDITORS: Amounts|falling due within one year:|2023
E|2022f|
|Taxation and social security||1,814|1,531|
|Accruals||15,000|42,750|
|Other creditors||256|256|
|||17,070|44,537|
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|Balance at|Incoming|Balance at|
|---|---|---|
|1.4.22|Resources|31.3.23|
||inc. gains||
||6||
|348,631,019|(52,046,756)|296,584,263|