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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`||



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





## 

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





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## 

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





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## 

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



|`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`|
||<br>`360,351`<br>|<br>`250`<br>|<br>`360,601`<br>|<br>`359,821`<br>|



|`A`<br>`totalof5 grantswerepaid(2022`|<br>`:5)including`|`1toanindividualfor£250(2022`|<br>`:`|`1for£250).`||||
|---|---|---|---|---|---|---|---|
|`Governancecosts`|||||`2023`|`2022`||
||||||`£`|`£`||
|`Auditorsfees- foraudit`|||||`5,520`||`3,850`|
|`Otheradministrationcosts`|||||<br>`3,635`||<br>`4,525`|
|||||<br>|<br>`9,155`<br>|<br>|<br>`8,375`<br>|





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## 

|`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`<br>|`26,120,335`<br>|



|`Debtors`||`2023`|`2022`||
|---|---|---|---|---|
|||`£`|`£`||
|`Deposit`|`interest`|`1,757`||`23`|
|||<br>`1,757`<br>|<br>|<br>`23`<br>|



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## 

|`2023`|`2022`||
|---|---|---|
|`£`|`£`||
|`5,520`||`4,620`|
|<br>`5,520`||<br>`4,620`|





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## 

|`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`|<br>`688,647`<br>|<br> <br>|<br>`25,967,499`<br>|<br>`473,222`<br>|<br> <br>|<br>`26,120,335`<br>|



||`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`|<br>`(361,435)`<br>|<br>`(359,405)`<br>|





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



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