2023-03-31-accounts - Duke of Lancaster's Foundation

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	`Appointed`	`Retired`
`SirJamesLeigh-PembertonCVO`	`12September2023`
`SirAlan ReidGCVO`		`4July2023`
`NathanThompsonCVO`
`HughBullock`
`SirMichaelStevensKCVO`
`LordDownshire`
`MarcusRose`		`31December2022`
`SoniaTolaneyKC`
`LucyMacdonald`
`JillMay`
`AlistairElliott`	`1February2023`
`AlastairMartin`	`1February2023`

26 October 2023

			`Unrestricted`	`Unrestricted`	`Expendable`	`Total`	`Total`
			`Fund`		`Endowment`		`2022`
					`Fund`	`2023`	`restated`
		`Notes`	`£`		`£`	`£`	`£`
`Incomeandendowmentsfrom:`
	`Donations`	`2`		`-`	`-`	`-`	`-`
	`Investments`	`3`	`576,026`		`-`	`576,026`	`531,434`
`Total`			`576,026`		`-`	`576,026`	`531,434`
`Expenditureon:`
	`RaisingFunds`	`4`		`-`	`99,665`	`99,665`	`101,236`
	`Charitableactivities`	`5`	`360,601`		`-`	`360,601`	`359,821`
`Total`			`360,601`		`99,665`	`460,266`	`461,057`
`Net(losses)/ gainsoninvestments`		`9`		`-`	`(53,171)`	`(53,171)`	`2,424,803`
`Netincome/(expenditure)`			`215,425`		`(152,836)`	`62,589`	`2,495,180`
`Transferbetweenfunds`
`Netmovementinfunds`			`215,425`		`(152,836)`	`62,589`	`2,495,180`
`Reconciliationoffunds:`
`Total`	`fundsbroughtforward`		`473,222`		`26,120,335`	`26,593,557`	`24,098,377`
`Total!`	`fundscarriedforward`		`688,647`		`25,967,499`	`26,656,146`	`26,593,557`
		`STATEMENTOF`	`FINANCIALACTIVITIES`
		`FORTHEYEAR`	`TO31st`	`MARCH`	`2022`
					`Unrestricted`	`Expendable`	`Total`
					`Fund`	`Endowment`
						`Fund`	`2022`
		`Notes`			`£`	`£`	`£`
`Incomeandendowmentsfrom:`
	`Donations`	`2`			`-`	`-`	`-`
	`Investments`	`3`			`531,434`	`-`	`531,434`
`Total`					`§31,434`	`-`	`531,434`
`Expenditureon:`
	`RaisingFunds`	`4`			`-`	`-`	`-`
	`Charitableactivities`	`5`			`359,821`	`-`	`359,821`
`Total`					`359,821`	`-`	`359,821`
`Netgainoninvestments`		`9`			`-`	`2,323,567`	`2,323,567`
`Netincome/(expenditure)`					`171,613`	`2,323,567`	`2,495,180`
`Transferbetweenfunds`					`(349,325)`	`349,325`	`-`
`Netmovementinfunds`					`(177,712)`	`2,672,892`	`2,495,180`
`Reconciliationoffunds:`
`Total`	`fundsbroughtforward`				`650,934`	`23,447,443`	`24,098,377`
`Total`	`fundscarriedforward`				`473,222`	`26,120,335`	`26,593,557`
`The`	`notesonpages11to14formpart`	`oftheseaccounts.`

		`2023`	`2022`
	`Notes`	`£`	`£`
`FixedAssets`
`Investments`		`25,967,499`	`26,120,335`
`CurrentAssets`
`Debtors`	`10`	`1,757`	`23`
`Cashanddeposits`		`692,410`	`477,819`
		`694,167`	`477,842`
`Creditors:amountsfallingduewithinoneyear`
`Accruals`	`12`	`(5,520)`	`(4,620)`
`NetCurrentAssets`		`688,647`	`473,222`
`NetAssets`		`26,656,146`	`26,593,557`
`CapitalFund`
`ExpendableEndowment`	`13`	`25,967,499`	`26,120,335`
`IncomeFund`
`UnrestrictedGeneralFund`	`13`	`688,647`	`473,222`
		`26,656,146`	`26,593,557`

		`Total`	`Total`
		`2023`	`2022`
	`Notes`	`£`	`£`
`Netcashoutflowfromoperatingactivities`	`14`	`(361,435)`	`(359,405)`
`Cashflowsfrominvestingactivities`
`Dividends`		`573,479`	`531,381`
`Interest`		`2,547`	`53`
`Netcashinflowfrominvestingactivities`		`576,026`	`531,434`
`Changeincashandcashequivalentsintheyear`		`214,591`	`172,029`
`Cashandcashequivalentsatstartofyear`		`477,819`	`305,790`
`Cashandcashequivalentsatendofyear`		`692,410`	`477,819`

`.`	`Donations`	`2023`	`2022`
	`HisMajestytheKing/HerMajestyTheQueeninRightofHis/ HerDuchyofLancaster`	`-`	`-`
`.`	`Investmentincome`	`2023`	`2022`
		`£`	`£`
	`Dividends`	`573,479`	`531,381`
	`Bankinterest`	`2,547`	`53`
		`576,026`	`531,434`
			`2022`
`.`	`RaisingFunds`	`2023`	`restated`
		`£`	`£`
	`InvestmentManagementFees`	`99,665`	`101,236`
		`99,665`	`101,236`

`Charitableactivities`
	`Grantsto`	`Grantsto`
	`Institutions`	`Individuals`	`2023`	`2022`
	`£`	`£`	`£`	`£`
`TheKing'sChapeloftheSavoy`	`350,000`	`-`	`350,000`	`350,000`
`Othergrants`	`1,196`	`250`	`1,446`	`1,446`
`Governancecosts(seeNote6)`	`9,155`	`-`	`9,155`	`8,375`
	`360,351`	`250`	`360,601`	`359,821`

`A` `totalof5 grantswerepaid(2022`
`Governancecosts`	`2023`	`2022`
	`£`	`£`
`Auditorsfees- foraudit`	`5,520`		`3,850`
`Otheradministrationcosts`	`3,635`		`4,525`
	`9,155`		`8,375`

`Reconciliationofmovementofinvestments`	`2023`	`2022`
		`restated`
	`£`	`£`
`Authorisedunittrusts:`
`Marketvalueat1stApril2022`	`26,120,335`	`23,796,768`
`Managementfee`	`(99,665)`	`(101,236)`
`(Losses)/ Gainsinvalueofinvestments`	`(53,171)`	`2,424,803`
`Marketvalueat31stMarch2023`	`25,967,499`	`26,120,335`

`Debtors`		`2023`	`2022`
		`£`	`£`
`Deposit`	`interest`	`1,757`		`23`
		`1,757`		`23`

`2023`	`2022`
`£`	`£`
`5,520`		`4,620`
`5,520`		`4,620`

`Netassetsbyfund`
		`2023`			`2022`
	`Unrestricted`			`Unrestricted`
	`General`		`Expendable`	`General`		`Expendable`
	`Fund`		`endowment`	`Fund`		`endowment`
	`£`		`£`	`£`		`£`
`Investments`	`-`		`25,967,499`	`-`		`26,120,335`
`Currentassets`	`694,167`		`-`	`477,842`		`-`
`Currentliabilities`	`(5,520)`		`-`	`(4,620)`		`-`
`NetAssets`	`688,647`		`25,967,499`	`473,222`		`26,120,335`

	`2023`	`2022`
	`£`	`£`
`Netincomeasperstatementoffinancialactivities`	`62,589`	`2,495,180`
`Adjustedfor:`
`Netlosses/(gains)oninvestments`	`53,171`	`(2,424,803)`
`Investmentincome`	`(576,026)`	`(531,434)`
`InvestmentManagementfees`	`99,665`	`101,236`
`(Increase)/Decreaseinreceivables`	`(1,734)`	`(4)`
`Increase(Decrease)inpayables`	`900`	`420`
`Netcashoutflowfromoperatingactivities`	`(361,435)`	`(359,405)`

`Benchmarkindices`	`Benchmark%`
`FTSEAllShare`	`50`
`FTSEWorld(exUK)`	`25`
`FTSEGovt.AllStocks`	`20`
`7-daycash`	`5`