2023-12-31-accounts - The Latimer Trust

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					Unrestricted	Unrestricted
					Funds	Funds
					2023	2022
				Notes	E
Income from:
Donations					SOS	543
Charitable activities	- sales ofpublications				13,541	18,002
Investments				2	4,904	11,876
Total income					19,253	30W1
Expenditure on:
Raising funds -Ruffer investment		management	fees		8,247	15,974
Charitable activities				3	137,665	119,650
Total expenditure					145,912	135g24
Net gains/(losses)	an investments			5	(109,837)	65,811
Net movement in funds					(236896)	(39992)
Total funds brought	forward				1,631,569	1,670,961
Total funds canied	forward				1395,07$1SS1,569

				Total	Total
			Notes	2023	2022
				6	6
Fixed assets
Investments			5	1363369	1,531,659
Current assets
Debtors			6	3,261	6,189
Stock				560
Cash at bank	and in	hand	7	45,935	110,649
Total current	assets			49,756	116,838
Creditors: amounts		falling due within one year	8	(17,731)	(22,928)
Net current assets				32,025	93,910
Total assets	less current liabilities			1,395,073	1,631,569
Creditors: amounts		falling due after more than one year
Total net assets				5,993,393	1,631.569
Funds ofthe Charity
Unrestdcted	income funds			1,395,073	1,631,569
Total funds			9	1,395,073	1,631,569

Expenditure on chari	ta	ble	activities
															Total	Total
															2023	2022
															E	E
Salaries															52,150	33,318
Publishing															12,976	12,922
Research Fellowships															49,298	47,680
Grants payable (to individuals)															3,000	5,000
Conference costs															10,230
Marketing costs															453
Administrative costs															4,061	7,924
Office rental															1,919	2,300
Bad debts															810
Accountancy fees (2022:			Independent	examination			fee)								1,440	1,458
Meeting expenses															633	954
Trustees expenses															695	894
Other governance costs														7,200 15.00, 50
Staff Costs and Numbers
																2022
																E
Salaries															50,940	32,436
Employer's pension contdbution															1,210	882
ly i~			I	f		h	dp,pppid:			it).	h	0,	I	A	51.150 Pig	SPSIS d igh
year was 5.1(2022:5.0).
															2023	2022
															E	E
Full-time equivalent	number ofemployees,				working		in:
-Charitable activities															0.8	0.8
-Governance															0.2	0.2
															1.0	1.0
P I P			0&"*0	"ih"	i	P	I	h	. PI			fih	h		hid p	lyf
those ofthe company		in	an independently		administered			fund.	The	pension		cost represents		contributions		payable by
the company tothe	fund.

Investments
				Cash held in
			Usted	investment
			Investments f	portfolio f	Total f
Cost orValuation
At 1)anuary 2023			1,443,174	94,485	1,537,659
Acquisitions at cost			1,296,625	(117,655)	1,178,970
Disposal proceeds			(1,243,744)		(1,243,744)
Net gain/(loss) on revaluation	(including foreign currency exchange)		(133,040)	23,203	(109,837)
At 31December 2023			1963,015	33	1963,048
Net cash released from investments		in the year wasf60,200(2022:f400).
Investments (listed on recognised stock exchanges) at market value comprised:				2023	2022
				E	f
UK investments		Fixed interest			53,441
		Equities etc			54,333
		Index linked			271,195
		Credit &illiquid strategies funds			150,620
Overseas investments		Equities etc		1,363,015	466,581
(including global funds)		Indexlinked			447,004
				1.$53.015	3033