Charlty reglstrallon number 1077501 THE DISCHMA CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023
THE DISCHMA CHARITABLE TRUST CONTENTS Legal and admiThstrabve infomats.on Trustees, reph)rt Independent examiner's feFL)rt Statern8nt of financial acb'viti88 Balan¢e sheet Notes to the accounts 10-16 Investment xhedule 17-18
THE DISCHMA CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms Selina ROrtSOn Ichairl MsAana Robertson Mr Ethvard Robertson Mrs Lorna Rotertson fimmis J.P. Sir Sirnon Robertson Laity Virginia RoiErtson Ms clementh.ne Robertson IAKp)inled 20 December 20231 Secretary Rathb)nes TiLL8t Company rnited Chailty nUMr 107T501 Prlnclpal offlce 30 Gresharn Street Londor EC2V 7QN Independent examiner Kery Robert5 TEP FMAAT MCSI RalhtrKJnes TILL81 Company rnrte Port of LiverF*)d Buildng Piér Head Liverpool L3 1NW
THE DISCHMA CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEhlBER 2023 The Trustees wesent thr annual lert aThl financial statements for the year ended 31 December 2023. The accounts have teen prepared in accordance Yth the aecounb.ng p)liaes set out in note 1 of the accounts and ¢omrJy with the Charibes Act 2011 and 'A¢counting and Reporting by Charib'es. Statement ol Recomrnended Practice apklicatAe lo charibes preparing their accounts in aordaTrce with the Financial Reporb'ng Standard applicaLle In the UK and Republic of Ireland IFRS 1021 leffet"ve 1 January 20191,. The Financial Stslements also COmY Yrfith the Charity's governing d¢xumenL Obj'ectives and activities The Dischma ChaiilatAe Trust was created by Deed dated 91h April 1999 The Trustees shall hold the caplal the income of the Tiusl Fund upon trust lo apply income and. as far as may be necessary, the capitsl loi or towards such charitst4e purposes aThd to make donalj'ons to such charitst4e trdIeS or Institutior at such t'm86 and In such manner a5 the Trustee5 may, in their at6dule discretion, think fil The Trustees have eomF4ied wth the duty in section 17 01 the Charib"es Act 2011 to have due regard to the public benefit guidance published ty the Charibes Commission. Maln xtlvities The Chanty was created ty the Seernent Deed to rnake donats"on5 to such charitatle bo¢ or insts"lub"on that the Trustees deemed fitbng. During the year under review the Trustees have made thjnalion payrnents to 35 chaiitable oiganisaD"ons that cover a wde sFectrum of such bodes The differing tyFes ol charitable organisats'ons that have benefited during the yeal have ten t¥oadly broken down under a nUMr of categories as detailed in note 7 of the accounts. Grant maklng pdlcles The Trustees meet h1 yearty to reviow apF4icab"on5 for lunding. Only successful apF4icants are nots'fied of tho Trustees, decision. 1118 the Trustees, aim lo grow the fund in real lenns over ts.me bul also to thstnbute or F4edge up to 3% of the market value of the investrnent FM)rtfolio. less administrabve costs, on an annual basis to worthy causes. Th8 annual Income arising Is used first. wlh any balance required to make up the 3% taken from cakitsl lunts. As a result ol this policy, it is likely that the amount availat4e to the Trustees for distribution each year may fluctuate depending on the annual Ferformance of the Investment pthlio. Thé Trustees have elected to concentrate (although not exdusvelyl their current donation$ pdicy on charities concerned wth Educatson, Arts and Cutture. Cortservation and Hurnan and An'ma Welfare The Trustees, when considenng naOnS to UK based chanles tend to lavour those charroes which mainly operate In London and Hampshire. The Trustees do not norrnalty support charth.es which carry out meocal research. During the year under review. the Trustees made a Iota cl 40 donab"on$, as detailed in ne 16 of these accounts The analysis ol the donations showng the Vario types of eharibes SUFPOrted are also sh¢)wn in note 7 of these accounts. Achievements and performan The Trustees have made grant payments lo chaiities during the year that have totalled £135,280. This showed a decrease of £25,220 as compared th the previous year when they made donations lolalling £160,5W This decrease was the result of the Trustees, late deosion to rnake commitrnents to donatiorB In the financial year. The orignal am was to increase donats.ons and use some of the charity's caprtal reseNe which has not been fvlly distributed in earlier years. The Trustees 11 re¢bfy this in the year to 31 December 2024.
THE DISCHMA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Financial review Totsl Incoming resources were £49,0351£39,154 in 21Tf21. wth £151.4861£176,772 in 20221 Ing committed lo chanlable ath'vitses of which a credit of £0 Ichaige of £189 in 20221 related lo costs of raising funds £16,2L 1£16,272 in 20221 governance costs. The total movernent of resources in the year also indude the realised gain in the year £1,3C6 Iloss £14,403 In 20221 and an unrealised gain based upon the rnarket Value of the investments al the year end ol £e63,843 (loss £1,234,339 in 2tr221, resutb.ro in net inflow of resources of £562,698 loufflow ol res¢urees £1,386.171 In 20221. Reserves The charity's reserves are in a managed investmenl kxirtfolio. The Intslees airn to make annual donations in the regon of £150,000 per annum. The donab'ons and running costs are all funded from the managed porffolio. AS the Iruslees are subject lo the effects ol vdth.lity in Income due to stock rnarkets and the overall economy, the p)rtlolio Is rnonilored and reviewed on a regular basL8 lo ensure that the Investmen15 are generating sufficient income As of 31 December 2023. the bdance held on unreslricled resee5 was £7,201,3*. Plans lor the luture The Trustees do not envisage any further SI1can1 changes lo their ams and objeth"ves, they intend to continue supwrting a lewer numter of ehanbes al an increased level. Investment pollcy The Dischma Charilat4e Trusts investments are wed)minanUy invested on a discrebonary basis by James Hambio and Partners through the Sardasca Fund The Trust's hd(Ing in the Sardasca Fund represented over 80.kn of the Trust's Investrnents as at 31st Derner 2023. There is then a holthng in the ale Rock FlaLtship Fund 9fted by Sir Simon Robertson to the Charf(able TrLL81 in 2019, c.150A of the Chantsble Trusfs assets at the end of Oeeember 2023. This holding was reduced in early 2024 10 increase the holding in Sardasca and to hold as cash for future donat'ons. Finally, there is a laiger cash balance Invested pvethjrninantly In the BlackRock Sterfing "iditY Fund lo cover future charitable donats.ons as wdl as a fange ol illiquid assets sdecled by the previo8 Invesknenl manager, Slonehage Fleming, whid) are redueing over b"me.
THE DISCHMA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Investment perfofmance Having fallen 9.5°A in 2022 ami(tst Inflatson fears and iising Interest rales, the Sarda5ca Fund rose 8.8% in 2023 as those fears ebbed and economic growth rxoved more robLk8t than expected As a reminder, the core of the Fund is invested in a cc41ection of high walrty, global comF4nies. Investing in these companies is a sound way lo protect and grow the value of the Fund after the effects of Inflats"on over p¥olonged penod ol b"me. There Is then a balance of tslher assets sueh as bonds, atternatves and cash to piovide t¥ote¢b'on vthen equity markets have setbacks Pleasingly, most ol the Fund's equty holdnLS F¢rformed vll in absc4ute terms, induding a wde range of mpanies from Aphat¢l to UK retsiler Next There were limited notatAe detractots such as Charles Schwab which wa5 caught in the US bankj.ng turmoil earfy In the year. However. the Fund's equity holding5 struggled to keep up wlh a 0b31 equity market whose returns were concentrated in few US companies. Sutrx81anlially all of the relabve underFtrfoimance ol the Fund's equity hc40ngs was due to the lack of ownership of five companie8'. ApF4e, Nvid'a, Amazon, Meta and Tesla. The Fund's bond pOs"0n8 were a modest pVe eonlributor to performance while the Fund's gold holdirrtJ rose 7.5% in sleiling terms. The Fund entered the period bwth 64°A of its assets invested in equTb"es and this was seled.vdy increased lo 68% Most ol the increase was through addibons to exisbng positions trJt a srnall number of new pO"0nS were estst4ished such as in Progressive, the US auto iUrer. Elsewhere, the Fund's fixed interest exp)sure was rebuik as mofe attracb've yields have become availatle. The Fund's bond allocabon rose to a little over 140A which compares lo a low In 2021 01 c.80h ol the Fund wlh holdings still exclusNely in UK and US government-iwed debt. The Fund'8 atteinative, gc4d and cash were reduced to enatle the inc¥eased exp)8ures elsevthere. Outside of the Sardasca Fund, the Charitatle Trust has a siZae holding in the ale Rock Flagship Fund. After dfficult 2022, the Whale Rock Flagship Fund rose 25% In sterfing terms In 2023 In the surnrnei of 2023 il was agreed to halve the holding given Ils large sze relabve lo the Chantstle Trust's overall assets. This sale was instructed in 2023 and comkleled in earfy 2024. In December 2021 the Charitable Trust received c £300.000 ol proceeds from the sae of the Stonehage Flerning Global Private Captal Funds. These proceeds were held in cash to cover fijture chantae donatiorts As at 311t December 2023, c £200,OJO ol cash was held predominanly invested in the BlackRock Sterling Liquidity Fund to lake advantage ol higher Interest rates This provides liquithty io cover broadly one year of chanlable donatio at c.3'h ol the Lhanlat4e I rust's current value. 11 Is Flanned that a wgnfftcant prowrtion ot the Vvhale F<ock Flagship Fund sale prowds wll be ietained in $h lo reF4enBh the liqui¢Jty for lulure ¢haTtst4e donabons. The legacy Stonehage Fleming assets ¢onbnue to dstribule Fwowds Unfortunaldy, efforts lo accelerate the wndup of these holdings have proven unsucce85ful. Risks Risk managernent is considered regularfy at the Trustees. meefj.ngs The Trustees are sab"sfied that the right kyocesses are in place lo identify the major risks to wthith the Charty ts expcwd and that systems a in place lo manage them in so lar as is p(6sitrJe The main risk identy'fied is investment market risk The Trustees nder this risk appropriate 9ven the intention is lo grow the value ol the Trusys assets after the effects ol inflation over the long term lo suprxjrt future grant giving This risk is mitigated by the long Investment tsrne horizon of the Trust. the level of grant giving relatsve lo the size of the Trusfs assets and the Ilexitslity on maknng grants In any Individual penod, and the choice ol Investment manager and Ih&r Investment approach. The other key risk Identfied relates to the counter-party risk rdated to the Chartys hdding of cash and investments This risk has en mitigated by the seledion ol an investsnenl manager lo manage the Charity s investments and cash, who in turn has sdectetl a strong and ststAe custodian for holding these assets.
THE DISCHMA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Structure, governance and management The Trustees who served during the year and wefe also in office at the date of sigiwng the financial ststements were. MS Selina Robertson Ichairl MsAana Robertson Mr Edward Robertson Mrs Lorna Robertson Timmis J.P. Sir Simon Robertson Lao¥ Virginia Robertson Ms Clementine Robertson (Apwnted 20 Decemter 2023 The ptrNer of app)inbrrfJ new Twstees ol the ChaTrty ts vested in the Setlor of the Chafity. Sir Simon Robertson, and after the death ol the Settlor In such person as the Setuor shall ty Deed or Wll apIn1. The Settlor will appoint any new Iruslee on the b"S ol th1 conneth.on th the Cuent trustee board, their expenence and knoyledge The Charity's other athsofs are noted on page 1. Declslon maklng In past years the TIu51ees met hall yearfy to review aFF4icab"ons for fvnthng, investrnent Ferformance, Income levels and the financial stslements In btheen Trustees, rneetln. urgent appeals were considered and subsequendy ratified al the following half yearly meeting. Trustee tralnlng The Trustees coirespond and meet wrth thwr wolessiona athisors regularty and the advisors are SFeafically instructed to appratse the Truste8s of relevant technical and pyath'ce issues as they arise.
THE DISCHMA CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Statement ol Trustees, responslbllltles The Trustees are respx)nstAe for piepaiing the Trustees. Report and the financial statements in aco)rdance wlh applicaLle law and United KInj0M Accounb"ng Standards Iunited "ngdorn Generally Aceepled Accounliw Practice). The law appSicat4e to charities in Enlland and e$ requires the Trustees lo prepare finaneial statements lor each financial year which give a true and fair view of the stste of affairs of the Chanty and of the incoming resources and aplt8.0n of resources of the Charity for that year. In preparing these financaal statements, the Trustees are requred to - Selecl 8Ultable accounting pcAiaeB and then aPF4y them ConSlentty." - otÉerve the melhoth and princ4F4es in the Chanl'es SORP.. - make judgements and estimates that are reasonatle and pruthnt stale whether apF4icable accounth.ng standard5 have been foll¢)wed, subJ"eLt to ary matsrial departures disclosed and exKAained in the financial ststements", and prere the finanoal ststernents on the going cortem isiS unless rt is inappropnate to presurne that the charity ¥MII cont'nue in oFerabon. I he I ruslees are responsible tor keer4ng Suthaent a¢¢ounbng re¢or¢ts that ¢Ji$dose wth reasonable a¢¢ura¢y al any t'me the financial posrtion of the Charity and enatle them lo ensure that the financial slalements comply Vwilh the Charibes Act 2011, the Charty IAccounts and ReFM)rt51 Regulabons 2tMJ8 and the provisions ol the trust deed. They are also resporrsit4e lor safeguarthng the assets of the Chanty and hence for taknn9 reaSonae steF6 lor the prevention and detecbon ol fraud and other Irregulanbe5 Thg Truste8s' report was apFrfoved by thg Board of Trust. Dated." 14 August 2024 M$ Sellna Robertson (Chalrl For and on behall of all Trustee$
THE DISCHMA CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DISCHMA CHARITABLE TRUST I rewrt on my examination of the financjal stslements of The tlschma Charitslle Trust (charity iegstrats'on nurnber 10Tf5011 for the year ended year ended 31 Decernber 2023 whch are set out on pages 8 to 16. This rewrt is made solely lo the charity's trustees, as a tKMty, in ardance wth seth.on 145 01 the Charities Aet 2011 My examinaton has en undertaken so that I might slate lo the Chaity's Trustees those matters I am required lo stale lo them in an IndeFendenl Examiner's ieyNt and for no other purpJse. To the fullest extent permitted by law, l (h) not accept or assume res[nSib.1rtY lo anyone other than the charity and the charity's trustees as a botfy. for rny M)rk, for this ieFth. ty the orinions I have formed. Responsibilities and basis of report s the charty's trustees you are responsie lor the preparation of the financ481 ststements in accordance wth the requirements of the Chantses Act 20111'the Ad'l. I report In respect ol my examinath.on cl the Tnjst's finanaal statements earried ¢t under sethon 145. In carrying out my examination I have followed all the apKAicat4e Direclions given by the Charity Commission under sectson 14515llbl of IheAct. Independent examlner's Statement l am a member ol an approved accounb.ng tx)ty and gNe due consideratron to the PTthisions of the Revised Ethical Standard 2019 Issued ty the Finanaal RetM)rbng Counul IFRCI at all times Rathbones Trust Company has provide¢J aounncY services in accoftjance wlh the terms of engagement agreed ty the Trustees. l th) not report lo the tK)okkeeper or accounts preparer in any res¢t. I havo comF48led my examinab"on. I confirm that no material matters have come to my attenbon in conneth'on th the exarninabon giving me cause lo bdieve that in ary material respect lil accounb'ng record5 were ncl ke in re5Fect of the charity as rewired ty seth.on 130 oftheAct,' or lill the finaneial statements do not acc£Jrd those records,. or liiil the finanaal statements do not comFly wth the apleae requrements concefning the form and conlenl of accounts sel out In the Charities IAccLwnts and Rep} Regulatio 2008 other than any requirement that the accounts gve a true and fair view vthich is not a matter cotNdered as part of an indendent examinabon I have no nCernS and have ¢omg a¢rc6s no other matters in o)nne¢b"on vAth th& examination lo which attention should be tha¥w) In this rep)rt in order lo enatle a F*oFei undetstandna of the financial stslements lo be reached. Datèd. 28 Sèptemb&r 2024 Kerry Robert5 TEP FMAAT MCSI Clo Ralhbones Trust Cornpany Lirnrted Port ol "verpO Building Pier Head vérpo(A L31NW
THE DISCHMA CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestricted 2023 2022 Notes Income Investment income Other income 48.507 528 38,571 583 Total income 49,035 39,154 Exp8ndltur• Raising lunth 11891 Charitae ath"vib'e8 151,486 176,772 Totsl resourc expended 151.486 176,583 Net oulgolng before Investment galns I1105ses) 1102,4511 1137,4291 Nel gans I Ilosse51 on investments 11 665,149 11,248,742) movernent In funds 562,698 11,386,171) Fund télances at 1 January 2023 6.638,698 8,024,889 Fund balafi¢ at 31 Dvkmber 2023 7,201,396 6,638,698
THE DISCHMA CHARITABLE TRUST BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Investments 12 7,243,699 6,680,299 Current assets Cash at bank and in hand 1.273 267 Credllors- amounts lalllng due wlthln one year 13 143,5761 141.8681 Nel current liats'lities 142,3031 141.6011 Total assets less current liabilities 7,201,396 6,638,898 Income funds Unrestricted funds- general 7,201,398 6,638,898 7,201,396 6,638,698 Tho notes on pages 10 10 16 lo Fart ofth8se finanaal statements. Tho finanaal staternents 18 approved ty the board of Truslees and authNisgd for issu8 on 14 August 2024 and are signed on its behalf ty. Ms Sellna Robertson (Chalrl For and on behall of all Trustee$ Dated. 14 August 2024
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEhlBER 2023 Accounting policies 1.1 Ac¢ountlrwJ convenuon The financial statements have en prepared in accordance wth 'A¢counts'ng and Rewrb'ng ty Charib'es.. Statement of Recommended Pia¢tice aPICatrAe to charibes preparing their a¢¢ounts in accordance with the Financial Reports"ng Standard applicaile In the UK and RepuLlic ol Irdand IFRS 1021 (Second Edilionl. an the Financial Reporting Standard applicaLle In the United Kin9lom and Reput4ic of Irdand IFRS 1021 and the Chanlie5 Act 2011 and UK Generally Accepted Prat"ce as rt aFWies from 1 January 2019 The finanoal Slalemenls have been prepared to gve a Irue and fail, vieN and have departed frorn the Chanties (Accounts and ReFOrt51 Regulabons 2008 only lo the extent required to provide a'lrue and fair view.. Thi5 departure ha5 involved Idlowng 'Accounling and Reporbng ty Charibes Slalemenl ol Recommended Practice appliCae lo charitses wepanng th&r accounts In accordance with the Financial Reporting Standard ap1¢8tAe in the UK and Reputrjic ol Ireland IFRS 1021 Isecond Edilionl'father than the Acwunling and Reportsng by Charits'es. Slalemenl ol Recommen¢Jed Pracb'ce effeclj've from 1 April 2005 which has snce been tthdrn 1.2 Golng concern The Trustees consider there are no rnalenal uncertainbes about the Chanty s at41ity to cont'nue as a gang concern . The review ol the finanaa pc6rtion. reserves levds and future plans gves Tru51ees confidence the Charity remains a going ¢(cern for the loreseeats4e future. 1.3 Charltabl• funds Unreslrided funds are availaNe for use al the discretion of the Trustees in furtherance ol their charilaNe objectives unless the funds have been degnated lor other purwses. Unreslncted funds include degnated funds where the Trle0S, at their discrel'on. have created a fund for a SFecJfic purp)s8. 1.4 Incomlng resources Donations are recognised once the Charty has teen notified ol the thjnabon, unless performance condib'ons require deferral of the amount Donatsons made In a form other than cash are Inibally reco9nised at the market value al the date of the gft. Investment income is accounted for on an accruals tsts in the period to whieh it relates 1.5 Expenditure Grants are Induded in the finanaal statements when approved by the Trustees and nob.fied lo recients. The valua of committad grants unpaid at thè yèar ènd ts accrued. Grants offared that ar8 subjecl to con(th"bons that havè not teen mèt at the year and arè noted as a commitrnent but not aecrued as èxwnditur•. Management and a¢Jrnirislrabon costs comprise those ¢c61s in¢urred in running the Charity. They have teen apporboned on the tosis of b.rne Srent betrn dIarrtae ath"vthes, eosl of ranll funds and governance costs. Governance costs congsl of those costs a$sl3¢ed th the overall running of the Chanty and meeting stsluloiy and regul*ory requrements. 1.6 Investments Fixed assets Investments represent listed investments whch are stated at market valuab"on. where market value represents the mid rnarket value on the last tradng day before the year end. Any unrealised or realised gains arising Irorn investments are accounted for in the Ststemenl of Finanaal Acb'vilies. 1.7 Foreign exchange Transactions in currencies other than wunts sterling are reo)rded al the rates ol exchange prevailing at the dates of the lrartsadlor At each reporD"ng end date. rnonetary assets and Iiab"Iib"es that are denominated in foreign currenues are retranslated at the rates prevailing on the reF(Jrting end dale. Gans and losses arising on traLaon are induded in net inLx)mellexttn&"luiel for the Tr(l. 10-
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Accounting rKJlicies Icontlnuedl 1.8 Debtors Debtors are recorded at their expected setlement amount 1.9 Cash and cash equivalents Cash al bank and cash in hand indudes cash and short term highty liquid investments a short maturity ol three months or less from the dale ol acquisib'on or owning ol the depowl or grnilai account. 1.10 Creditor5 Creditors are recogntsed where the Charity has a present ot4igth.on resulb.ng from a past event that Yrfill probat4y result In the Irarffjler of fiJnd5 to a third party and the amount due lo setue the oNigalion can be rneasured or estsrnaled rdiat4y. Credlors are normally recognised at their setuemenl amount after allowng lor any dscounts due Crltlcal OUntng estlfflate5 and I1geMentS In the apF4icalion of the Charty's accounb.ng [lie9, the Tru51ees are required lo make juthJement8. estimates and assumpt'ons atx)ul the cairying amount of assets and liab'libes that are not readily appaient Irorn other sources. I he estmales and assoaated assumOons are t)ased on hisloncal experience and other factors that are CsIdered lo te relevant. ktual results may (*Ner frorn these e5b"rnates. The e8b"males and underfying assumpb'ons are reviewed on an on9)ing basis. Revisions to accounting e8b"males are reeognised In the pwiod in which the esb.male Is revised where the revision affects only that penod, or in the period ol the ievision and future penods where the revision affects both current and future P8riods. Investment Income 2023 2022 In¢ome frorn listed inveslrnents 48,$07 38,571 other income 2023 2022 Bank interest received 528 583 Rai5iThJ funds 2023 2022 Inveslrnent management fees overwfNided pnor years 11891
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 Charltable actlvltles 2023 2022 Grant fundng ol arliviles Isee note 161 Share of governance costs (see note 81 135.280 16.2Ck3 160,500 16,272 151,486 176,772 Grants PaYae 2023 2022 Wldlife & Conservation General Medical. Mentsl Heath and Disat4ed Children and Youth Weffare General Educab"on Iderty Vvelfare The Arts, Theatres & Museums etc Animal WeKare Homdwness 13.000 35.600 8.000 31.000 8,000 23.000 12.000 79,500 3,000 ,uuu 2,000 7,000 15.000 13,UUU 11,180 13,500 10.000 135,280 160,500 AJI ol the above ryants were payat4e to insth"lutions. SupFrf)rt costs Support Governance costs ¢osts 2023 2022 Basis of allo¢ath)n Management and administralton fees Inderndernt exarniner8 fee LEI fees Bank charg8s 14.40C 1,80e 14,400 1.81 14,400 Governance 1,776 Governance 78 Governance 18 Governance 16,2Cf 16,2C6 16,272 Truststs r•nun•ratk•n and bèntffts r•13j rt1•S and confllets of Inttrtst None ol the Trustees lor any rSor6 connected wlh them) receNed any remunerab'on, nefIts or rtsymbuised expenses from the Charity during the year or the previous year None of the Tiuslees lor any wr$0 Conneded with them) had any Confiicts ol interest. None of the Trustees lor any Fersorts conne¢led Yith theml had any rdated party transath.ons lo drsdose. No further disclosures are required for the year 12-
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 10 Employees There were no emF4tyees during the year oithe pr*ious year. 11 Net gains I Ilowsl on inve51ments 2023 2022 Unrealised gans / IIc6sesl on investments Gain I (Ios81 on sale of Investrnents 863,843 11.234,3391 1.306 114,4031 665,149 11.248,7421 12 Flxed asset Investments Investrnents Cash In portlollo Total Valuatlon At 31 DeCemr 2022 Unrealised gains Realised profrt Cash availat48 to imiest Disposals 6,654,271 663,843 1.306 26,028 6,680,299 663,843 1.306 121,6281 180,1211 121,6281 I.121) At 31 De¢emter 2023 7.239,299 4.400 7,243,699 Inveslrnents represtIng more than of the p1101105 total market value lexcludlng cashl: Investment Units Market Value % of Total Market Valuè S&WThe Sardasca Fund £ Inc Whale Rock Flagship Fund Lld 453,878 41 331 1561 5.939.238 1.079,998 82 04% 14 92% 2023 2022 Listed Investments Cash in investment portfdio 7,239,299 4.400 6,654,271 .028 7,243,699 6,680,299 13-
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 13 Crtrjltors: amounts lalllng due wlthln one year 2023 2022 Accruals and deferred income Other cred'tors 30,576 13.OCQ 17,868 24,000 43,516 41,868 14 Taxatlon The charity ts exempt from taxation on rts ath"VTb"es betauge all rts income is apled for charitae purp)ses. 15 Cash and Gash equNalents 2023 2022 Cash at bank and in hand Cash available lo Invest 1,273 4.400 267 28.028 5,673 28.295 18 Donatlons made durlw the year 2023 Aborb'on Suppjrt N•VOrk Age UK Age Inlernat'onal Arts Emergency Battersea Dogs and Cats Home Brooke Hosytal loi Animals Cardiac Risk in the Young Carers Trust Chelsea Sl Luke and Chnst Church Christian A'd Compassion in r1d Farming Controlling Chemsex Eplepsy Society 2,000 5,000 5,000 2,500 2,000 3,000 2,000 3,000 4,000 10,000 5,000 3,000 200 Carried foward 46,700 14-
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 16 Donations fflade durirvj the year Icontlnuedl 2023 Brought forvrdrd 46,700 ESPA Film & TV Charrty Feotstsps Projtrct Glass Door Hornebs6 Chanty Gude Dogs for the Blind Assotsabon Ico and Fire Theatre Co Ltd I Choose Fr8edorn Intsmational Curators Fowm Koasder Trust Nnw7ad Orty Comed UK P1¥¢8 289 Prison8rs Advi¢• Sorvi¢9 Prostst8 CarrAr R?8¢arth Re-ErrfJag8 Refu98 Royal Mar5d8n Cancer ¢h¥rity oyal Irinity Hosp sI1n9s Tog•thar Society Protecton ofkninKq The Move Pathership Thè Ralph Batès Pantrèab"c Towner Hou¥¢ hale and Dolphin Con8erYation vwrtd Horse V*Kare Anirnal Protection 2,000 2,000 3,UUU 10.000 2,000 2,680 2,000 2,000 2,000 1,000 1.000 10,200 3,000 200 3,000 2,000 5,000 ,uuu 3,000 2,000 1,000 5,000 3,500 3,000 3,000 8,000 2,000 Yca 135,280 17 Unrestricted funds The unreslrieted fun¢ts of the tharity comprise the unexpended balances of donabons and grants which are not subject lo specific ¢onthDons ty th)rtt)rs and grantors as to how they may be used At 1 January In¢cmlng Resources 2023 resources expend&J Gains and At31 losses December 2023 General funds 6,638,698 49,035 1151.4&31 665,149 7,201,396 15-
THE DISCHMA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEhlBER 2023 17 Unrestrkted lunds Icontlnuedl Previous year.. At 1 January Incoming Resources 2022 resources exFended Galns and At31 losses December 2022 General funds 8.024,869 39,154 1176,5831 11,248,142) 6,638,6913 16-