REGISTERED COMPANY NUMBER: 03648722 (England and Wales) REGISTERED CHARITY NUMBER: 1072342
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE SLAVANKA TRUST
Carter & Coley Limited Chartered Accountants and Statutory Auditor 3 Durrant Road Bournemouth Dorset BH2 6NE
THE SLAVANKA TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Report of the Independent Auditors | 5 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 to 11 |
| Notes to the Financial Statements | 12 to 17 |
| Detailed Statement of Financial Activities | 18 |
THE SLAVANKA TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022
TRUSTEES R W H Barker Mrs N M Coombs Mrs R F Dowdy P J Leroy P V Lindon Miss J Morgan Rev J H Simmons D Cook (appointed 14/12/2022) REGISTERED OFFICE 103 Argentia Place Portishead Bristol BS20 7QS REGISTERED COMPANY 03648722 (England and Wales) NUMBER REGISTERED CHARITY 1072342 NUMBER AUDITORS Carter & Coley Limited Chartered Accountants and Statutory Auditor 3 Durrant Road Bournemouth Dorset BH2 6NE SOLICITORS Gregg Latchams Ltd 7 Queen Square Bristol BS1 4JE
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THE SLAVANKA TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisation
The trustees are responsible for the overall management and control of the charity. The trustees met three times during 2022 working under the chairmanship of Rev J H Simmons. The administration of the charity has been carried out by James Escott.
Objectives and activities
The objective of The Slavanka Trust is to advance Christianity in particular by the advancing of funds to support Christian educational and/or residential ministry. The charity's policy is to support other Christian organisations worldwide by the making of grants and partnering with other organisations that share similar objectives.
Investments
The Project Fund has been part invested in loans to charities with similar objects and in part remains uninvested, and is held on deposit with the Charity's bankers.
The Grant making Fund has been divided into two parts -
-
Funds invested with Rathbones, who have been appointed Investment managers to the Charity. As at 31st December 2022 the value of the funds under management by Rathbones amounted to £2,997,325. At the valuation date this fund yielded 2.76%.
-
Funds invested with The Charities Property Fund. As at 31st December 2022 this investment was valued at £884,431. At the valuation date this fund yielded 4.09%.
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THE SLAVANKA TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Review of developments, activities and achievements
During 2007 the Trustees decided that in future The Slavanka Trust's activities should be represented by two funds:
-
A project fund, where creative partnerships would be established with other charities with similar objectives, and
-
A grant making fund, where the capital is invested to provide an income for distribution
During 2022, partnerships have continued with Adventure +, Ashburnham Place, Christian Youth Enterprises, the Great Wood Trust and the Scargill Movement. Their ministries continue to benefit from the Partnership with The Slavanka Trust.
All project loans are being repaid in line with the agreements made with the recipient charities.
In 2022 grant applications were received from organisations working in residential Christian ministry and education from different parts of the world, including Africa, Europe and the UK. Thirty-six grants were made in 2022. Please see the website at www.slavankatrust.org for details.
The Trustees had two on-line meetings and one in person meeting during 2022 to consider the applications and to approve grants. Resources for making grants arise entirely from investment returns receivable from both funds. All available income has been allocated.
Reports from the recipients of assistance from The Slavanka Trust are requested on a regular basis. These indicate that the grants made and the support given have made a significant difference to the effectiveness of the recipient charities in carrying out their Christian charitable activities.
Risks and uncertainties
The Board regularly reviews the key risks facing the charity. The external risks, over which the Board has no control, include a decline in the income streams flowing from its investments and a decline in the value of its investments. The trustees have delegated much of the responsibility of managing the income streams and assets to Rathbones.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Slavanka Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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THE SLAVANKA TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
AUDITORS
The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 14 April 2023 and signed on its behalf by:
Rev J H Simmons - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST
Opinion
We have audited the financial statements of The Slavanka Trust (the 'charitable company') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 December 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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the charitable company has not kept adequate accounting records; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In order that we can understand the legal and regulatory frameworks that apply to the company we have utilised our existing knowledge of the business and which has been supported by discussions with directors. The audit team are briefed on these laws and regulations so that they can remain vigilant for non-compliance throughout the entire audit process.
We have made enquiries of directors regarding their knowledge of any instances of fraud and we have investigated unusual transactions and unexpected relationships.
Audit procedures are designed to respond to risks of material misstatement due to irregularities, including fraud.
As a result of our risk assessment procedures, we have planned and performed the following procedures to identify non-compliance with laws and regulations described above:
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Testing the disclosures contained within the financial statements to supporting evidence and ensuring compliance with relevant laws and regulations identified as having an effect on the financial statements.
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Risks relating to management override of controls were addressed by testing the appropriateness of journal entries.
Due to the inherent limitations of an audit, there is an unavoidable risk that, despite properly planning and performing our audit in accordance with auditing standards, some material misstatements may not have been detected.
Auditing standards limit the audit procedures required to identify non-compliance with other operational laws and regulations to enquiry of directors and management and inspection of any correspondence. If a breach of operational regulations is not evident from relevant correspondence or disclosed to us, an audit is unlikely to detect that breach. In addition, the further removed non-compliance with laws and regulations is from the events and transactions included in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
In addition, the risk of not detecting material misstatement from due to fraud is higher than the risk of one not being detected through error as fraud may involve deliberate concealment through collusion, forgery, misrepresentations and intentional omissions.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE SLAVANKA TRUST
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Carter & Coley Limited Chartered Accountants and Statutory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 3 Durrant Road Bournemouth Dorset BH2 6NE
14 April 2023
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THE SLAVANKA TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds Investment management costs 3 Charitable activities Charitable activities Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted Designated Total fund fund funds £ £ £ 126,766 - 126,766 22,788 - 22,788 22,788 - 22,788 140,044 3,000 143,044 162,832 3,000 165,832 (457,640) - (457,640) (493,706) (3,000) (496,706) 5,082,558 3,000 5,085,558 4,588,852 - 4,588,852 |
2021 Total funds £ 113,908 |
|---|---|---|
| 22,599 | ||
| 22,599 162,353 |
||
| 184,952 | ||
| 477,120 | ||
| 406,076 4,679,482 |
||
| 5,085,558 |
The notes form part of these financial statements
Page 9
THE SLAVANKA TRUST
BALANCE SHEET 31 DECEMBER 2022
| Notes FIXED ASSETS Investments Investments 6 Social investments 7 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 3,881,756 20,000 3,901,756 709,857 (22,761) 687,096 4,588,852 4,588,852 |
Designated fund £ - - - - - - - - |
2022 Total funds £ 3,881,756 20,000 3,901,756 709,857 (22,761) 687,096 4,588,852 4,588,852 4,588,852 4,588,852 |
2021 Total funds £ 4,362,184 225,943 4,588,127 499,431 (2,000) 497,431 5,085,558 5,085,558 5,085,558 5,085,558 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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THE SLAVANKA TRUST
BALANCE SHEET - continued 31 DECEMBER 2022
These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 April 2023 and were signed on its behalf by:
J H Simmons - Trustee
The notes form part of these financial statements
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value..
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 2. INVESTMENT INCOME Other investment income Deposit account interest Current asset investment income Investment dividends 3. INVESTMENT MANAGEMENT COSTS Portfolio management 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration |
2022 £ 36,196 6,857 5,452 78,261 126,766 2022 £ 22,788 2022 £ 2,400 |
2021 £ 36,587 460 9,942 66,919 |
2021 £ 36,587 460 9,942 66,919 |
|---|---|---|---|
| 113,908 | |||
| 2021 £ 22,599 |
|||
| 2021 £ 2,005 |
5. TRUSTEES' REMUNERATION AND BENEFITS
The trustees received no remuneration during the year (2021: nil).
Trustees' expenses
Expenses of £788 (2021: £103) were paid during the year to trustees, principally to cover travel expenses to board meetings and visits to organisations to which Slavanka have advanced grants.
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 January 2022 Additions Disposals Revaluations At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Listed investments £ 4,362,184 789,413 (838,540) (431,301) 3,881,756 3,881,756 4,362,184 |
|---|---|
There were no investment assets outside the UK.
Investments are included at market value at the balance sheet date.
7. SOCIAL INVESTMENTS
| MARKET VALUE At 1 January 2022 Repayments in year Other movements At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
Loans £ 225,943 (207,080) 1,137 20,000 20,000 225,943 |
|---|---|
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Amounts owed to group undertakings Accruals and deferred income |
2022 £ 20,462 2,299 22,761 |
2021 £ - 2,000 |
| 2,000 |
9. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1/1/22 £ 5,082,558 3,000 5,085,558 5,085,558 |
Net movement in funds £ (493,706) (3,000) (496,706) (496,706) |
At 31/12/22 £ 4,588,852 - |
|---|---|---|---|
| 4,588,852 | |||
| 4,588,852 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
Incoming resources £ 126,766 - 126,766 126,766 |
Resources expended £ (162,832) (3,000) (165,832) (165,832) |
Gains and Movement losses in funds £ £ (457,640) (493,706) - (3,000) (457,640) (496,706) (457,640) (496,706) |
|---|---|---|---|
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated fund TOTAL FUNDS |
At 1/1/21 £ 4,679,482 - 4,679,482 4,679,482 |
Net movement in funds £ 406,076 - 406,076 406,076 |
Transfers between funds £ (3,000) 3,000 - - |
At 31/12/21 £ 5,082,558 3,000 |
|---|---|---|---|---|
| 5,085,558 | ||||
| 5,085,558 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 113,908 113,908 |
Resources expended £ (184,952) (184,952) |
Gains and Movement losses in funds £ £ 477,120 406,076 477,120 406,076 |
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
Ransome Trust Limited
A subsidiary of The Slavanka Trust.
During the period Ransome Trust Limited provided a loan to The Slavanka Trust of £20,462. This balance is shown in other creditors repayable within one year. It is interest free and repayable on demand.
The Great Wood Trust
The trust has granted loans and made grants to The Great Wood Trust (GWT), a trust of which the Rev J H Simmons is a trustee. GWT is a charitable trust company. limited by guarantee, charity number 1120240. Rev Simmons receives no pecuniary benefit from his role as a trustee of GWT.
The initial loan is repayable by instalments over 10 years.
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THE SLAVANKA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. RELATED PARTY DISCLOSURES - continued
| Year ended | 31st December | Loan | Grant | Repaid | Balance |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 2014 | 200,000 | 20,000 | - | 180,000 | |
| 2015 | - | 20,000 | - | 160,000 | |
| 2016 | - | 20,000 | - | 140,000 | |
| 2017 | - | 20,000 | - | 120,000 | |
| 2018 | 50,000 | 20,000 | - | 150,000 | |
| 2019 | 10,000 | 20,000 | 30,000 | 110,000 | |
| 2020 | - | 20,000 | 10,000 | 80,000 | |
| 2021 | - | 20,000 | 20,000 | 40,000 | |
| 2022 | - | 20,000 | - | 20,000 |
The balance is shown within social investments.
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THE SLAVANKA TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| INCOME AND ENDOWMENTS Investment income Other investment income Deposit account interest Current asset investment income Investment dividends Total incoming resources EXPENDITURE Investment management costs Portfolio management Charitable activities Grants to institutions Support costs Governance costs Wages Auditors' remuneration Office Expenses Trustee, secretarial and other expenses Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised and unrealised gains and losses on investments Net (expenditure)/income |
2022 £ 36,196 6,857 5,452 78,261 126,766 126,766 22,788 128,617 9,944 2,400 1,295 788 14,427 165,832 (39,066) (457,640) (496,706) |
2021 £ 36,587 460 9,942 66,919 113,908 113,908 22,599 150,287 9,247 2,005 711 103 12,066 184,952 (71,044) 477,120 406,076 |
|---|---|---|
This page does not form part of the statutory financial statements
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