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||||Expendable||||Expendable||||
|---|---|---|---|---|---|---|---|---|---|---|
||||E n d o w m e n t|G e n|e r a l|To t a l E n d o w m e n t||General||To t a l|
||N|o t e s|Fund|Fund||2 0 2 3|Fund|Fund||2 0 2 2|
||||£||£|£|£|£||£|
|Income from:|||||||||||
|I n v e s t m e n t s||2||926,038||926,038||589,661 5|8|9 , 6 6 1|
|Total income||||926,038||926,038||589,661||589,661|
|Expenditure on:|||||||||||
|Raising funds|||||||||||
|-investment management fees|||278,874|||278,874|310,096|||310,096|
|Charitable activities|||||||||||
|-grants payable|3|& 5||1,296,000||1,296,000||1,119,500||1,119,500|
|-support &governance costs|3|8 ( 6||78,736||78,736||81,751||81,751|
|Total expenditure|||278,874 1,374,736||1 ,|6 5 3 , 6 1 0|310,096|1,201,251||1,511,347|
|Net expenditure before gains and losses||on|||||||||
|Investment assets|||(278,874)|(448,698)||(727,572)|(310,096)|(611,590)||(921,686)|
|Net (losses)/gains on investment assets|||(4,350,950)|||(4,350,950)|3,541,693|||3,541,693|
|Net (expenditure)/income|||(4,629,824)|(448,698)||(5,078,522)|3,231,597|(611,590)||2,620,007|
|Transfers|||||||||||
|Transfers between funds|||(448,698)|448,698|||(611,590)|611,590|||
|Net movement In funds|||(5,078,522)|||(5,078,522)|2,620,007|||2,620,007|
|Reconciliation of Funds|||||||||||
|Total Funds at 6April 2022|||66,068,411|1,061|66,069,472
6 3 ,||4 4 8 , 4 0 4|1,061|63,449,465||
|Total Funds at 5April 2023|||60,989,889|1,061|60,990,950
6 6 ,||0 6 8 , 4 1 1|1,061|66,069,472||
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||2 0 2 3|2 0 2 2|
|---|---|---|
||£|£|
|Cash fows from operating activities|(1,684,941)|(1,499,658)|
|Cash fows from investing activities|||
|Dividends and interest from investments|926,038|589,661|
|Purchase of investments|(34,420,680)|(12,903,028)|
|Proceeds from the sale of investments|33,536,799|13,662,617|
|Net cash used in investing activities|42,157|1,349,250|
|Change in cash and cash equivalents in the year|(1,642,784)|( 1 5 0 , 4 0 8 )|
|Cash and cash equivalents at the beginning of the year|2,754,735|2 , 9 0 5 , 1 4 3|
|Cash and cash equivalents at the end of the year|1,111,951|2 , 7 5 4 , 7 3 5|
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|Reconciliation of net income to net cash fow from operating activities|||
|---|---|---|
|Net (expenditure)/income for the year|(5,078,522)|2,620,007|
|Net (gains)/loss on investments|4 3 0 0 , 9 5 0|(3,637,243)|
|Impairments|50,000|95,543|
|(lncrease)/Decfease in debtors|(29,359)|1,709|
|lncrease/(Decrease) in creditors|(1,972)|9,621|
|Dividends and interest|(926,038)|(589,661)|
|Non cash investment management fees||3 6 6|
|Net cash used in operating activities|(1,684,941)|(1,499,658)|
|Analysis of cash and cash and cash equivalents|||
|Cash at bank|445,627|1,806,609|
|Cash held in investments|666,324|948,126|
|Cash and cash equivalents|1,111,951|2,754,735|
|Change in cash and cash equivalents in the year|(1,642,784)|( 1 5 0 , 4 0 8 )|
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||N o t e s||2 0 2 3||2 0 2 2|
|---|---|---|---|---|---|
|||£|£|£|£|
|Fixed assets||||||
|I n v e s t m e n t s||||||
|- L i s t e d i n v e s t m e n t s|7||59,065;980||63,127,233|
|- U n l i s t e d i n v e s t m e n t s|8||858,002||263,818|
|-Cash held in portfolio|||666,324||948,126|
||||60,590,306||64,339,177|
|C u r r e n t a s s e t s||||||
|Cash at bank||445,627||1,806,609||
|D e b t o r s|9|38,053||8 , 6 9 4||
|||483,680||1,815,303||
|Creditors: amounts falling due within one year|1 0|(83,036)||(85,008)||
|N e t c u r r e n t a s s e t s|||400,644||1,730,295|
|N e t a s s e t s|||60,990,950||66,069,472|
|Represented by:||||||
|U n r e s t r i c t e d F u n d s||||||
|Expendable Endowment Fund|||60,989,889||66,068,411|
|G e n e r a l F u n d|||1,061||1,061|
|To t a l F u n d s|1 1 & 1 2||60,990,950||66,069,472|
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|2|I n v e s t m e n t I n c o m e|2 0 2 3|2 0 2 2|
|---|---|---|---|
|||£|£|
||Interest received|||
||Interest on cash deposits|28,989|2 9 7|
||O t h e r i n t e r e s t|12,859|2,825|
||Quoted Investment income|884,190|586,539|
|||926,038|589,661|
|3|Expenditure on charitable activities|2 0 2 3|2 0 2 2|
|||£|£|
||Grants payable (see note 5)|1,296,000|1,119,500|
||Support and governance costs (see note 6)|7 8 , 7 3 6|81,751|
|||1,374,736|1,201,251|
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|itable grants payable|||
|---|---|---|
||2 0 2 3|2 0 2 2|
||£|£|
|1625 Independent People|50,000|30,000|
|Access Project, The|50,000||
|Action Foundation|35,000|15,000|
|Ascension Eagles Cheerleaders|20,000|30,000|
|Bloomsbury Football Foundation|7,500||
|Bristol University|23,000||
|Bristol Hospitality Network|15,000|15,000|
|Camp &Trek|10,000|10,000|
|Chance UK|40,000|30,000|
|City United||30,000|
|Company Three Theatre|40,000|22,000|
|Disasters Emergency Committee|7 0 , 0 0 0||
|Empire Fighting Chance|40,000|30,000|
|Fight for Peace International|60,000|100,000|
|Football Beyond Borders|50,000|40,000|
|Greenhouse||30,000|
|Green Light Trust|10,000|10,000|
|Go Beyond Charity|40,000|10,000|
|Impetus -The Private Equity Foundation|110,000|100,000|
|Into University|70,000|50,000|
|Jewish Council for Racial Equality|6,000|6,000|
|Jewish Care|25,000|25,000|
|Kennedy Memorial Fund|25,000|25,000|
|Kids Inspire|50,000|30,000|
|Leap Confronting Confict||50,000|
|Learn to Love to Read|7 , 5 0 0|7,500|
|Royal National Theatre|10,000|10,000|
|New Philanthropy Capital|40,000|30,000|
|Resurgo Trust|7 0 , 0 0 0|75,000|
|Richard House Hospice|60,000|40,000|
|Save The Elephants|12,000|9,000|
|S h a n n o n T r u s t|40,000|30,000|
|Storybook Dads|10,000|10,000|
|Thrive||30,000|
|Transforming Lives for Good (TLG) Ltd|70,000|60,000|
|T h e Tu t o r Tr u s t|60,000|50,000|
|W A C A r t s||20,000|
|Winston's Wish|70,000|60,000|
||1,296,000|1,119,500|
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|6|Support and governance costs|2 0 2 3|2 0 2 2|
|---|---|---|---|
|||£|£|
||Support costs|||
||Administration and secretarial|63,227|65,039|
||Consultancy|3,000|5,043|
||Bank charges|2,859|2,359|
||G o v e r n a n c e c o s t s|||
||Audit and accountancy|||
||-Begbies Chettle Agar|7,800||
||-Haysmacintyre LLP|1,850|9,310|
|||9,650|9,310|
||Total|78,736|81,751|
|7|Quoted Investments|||
|||2 0 2 3|2 0 2 2|
||Market value|£|£|
||At 6April 2022|63,127,233|60,354,020|
||Additions at cost|33,626,683|12,798,959|
||Disposals at carrying value|(36,072,851)|(13,662,617)|
||Management fees paid direct from investments||(366)|
||Net loss on revaluation|(1,615,085)|3,637,237|
||At 5April 2023|59,065,980|63,127,233|
||Historical cost|52,513,626|52,349,306|
||Listed investments at fair value comprised:|2 0 2 3|2 0 2 2|
|||£|£|
||Listed UK equities and unit trusts|3,145,030|3,780,885|
||Listed overseas equities and unit trusts|39,803,545|42,709,470|
||Listed bonds and high yield|12,199,522|10,480,846|
||Listed commodities|472,263|379,480|
||Cash product|602,550||
||Alternative Investments /property /thematic funds|2,843,070|5,776,552|
|||59,065,980|63,127,233|
|8|Unlisted investments|||
|||2 0 2 3|2 0 2 2|
||Carrying value|£|£|
||At 6April 2022|263,818|250,000|
||A d d i t i o n s a t c o s t|793,997|109,361|
||Disposals at carrying value|||
||Impairment of Investments|(50,000)|(75,000)|
||Net loss on revaluation|(149,813)|(20,543)|
||At 5April 2023|858,002|263,818|
||H i s t o r i c a l c o s t|1,153,357|459,362|
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|Unlisted investments at fair value comprised:|2 0 2 3|2 0 2 2|
|---|---|---|
||£|£|
|Social investments|150,000|175,000|
|Private equity|708,002|88,818|
||858,002|263,818|
|9||Debtors||2 0 2 3|2 0 2 2|
|---|---|---|---|---|---|
|||||£|£|
|||Accrued interest||36,116|6,712|
|||Prepayments||1,937|1,982|
|||||38,053|8,694|
|1|0|Creditors: amounts falling due within one year||2 0 2 3|2 0 2 2|
|||||£|£|
|||Accruals||83,036|85,008|
|||||83,036|85,008|
|1|1|Analysis of Net Assets Between Funds|Expendable|||
||||E n d o w m e n t|General|To t a l|
||||F u n d|F u n d|2 0 2 3|
||||£|£|£|
|||Fixed assets investments|60,590,306||60,590,306|
|||Cash at bank|444,566|1,061 4|4 5 , 6 2 7|
|||Other current assets|(44,983)||(44,983)|
|||At 5April 2023|60,989,889|1,061 6 0 , 9 9 0 , 9 5 0||
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||||Expendable|||
|---|---|---|---|---|---|
||||E n d o w m e n t|G e n e r a l|To t a l|
||||Fund|Fund|2 0 2 2|
||||£|£|£|
|||F i x e d a s s e t s i n v e s t m e n t s|64,339,177||64,339,177|
|||Cash at bank|1,805,548|1,061|1,806,609|
|||Other current assets|(76,314)||(76,314)|
|||At 5April 2022|66,068,411|1,061|66,069,472|
|1|2|F i n a n c i a l i n s t r u m e n t s||2 0 2 3|2 0 2 2|
|||||£|£|
|||Financial assets||||
|||Financial assets measured at fair value through proft or loss||59,065,980|63,127,233|
|||Financial assets measured at cost less impairment||858,002|263,818|
|||Financial assets measured at amortised cost||1,150,004|2,763,429|
|||||61,073,986|6 6 , 1 5 4 , 4 8 0|
|||Financial liabilities||||
|||Financial liabilities measured at amortised cost||83,036|85,008|
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