Charlty Roglstration No. 1092476 THE EDNA LINNELL CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022 Prepared by.. Brachers LLP SomerlTgld HoL¢se 59 London Road Maidstone Kent ME16 8JH
THE EDNA LINNELL CHARITABLE TRUST CONTENTS Page Legal and admlnlslratlve Inform81ion TTuslee report Independent examlner's rgport Slalem8nl of financlal acl'vilies Balance sheet Notes to the accounts 8-14
THE EDNA LINNELL CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustoe Brachers Trust Corporation Llmlled {Chrislopher Erlksson-Lee r8presgntingl Charlty number 1092476 Roglster¢d 0ffl¢g addr088 Somerfield House 59 London Road Maidstone Kant ME16 8JH Indopondent examlner M Wllkgs FCA Azels Audit SeNlces Globe House Eclipse Park Slttlngboume Road Maidslone Kenl ME14 3EN Sollcltors Brachers LLP Somarfield House 59 London Road Maidslone Kent ME16 8JH Inv&8tmènt *ds0 Iney Asset Management Service5 Limlted 6 Chesterfield Gardens Mayfair London W1J 5BQ
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT FOR THE YE4R ENDED 28 FEBRUARY 2022 The Iru8ts0 tepresenta1fv81 The Trustse'l presents theirreport and th8 unaudlted flnanTral 5talèments of th8 charfly for the year &red 28 February 2022. The Tru8t8e has gdopt8d the provislons of the Stalwent of ReGommended Prad¢e ISORPI"A¢countsng and Rgporbng by char&s. IFRS 1021 In prepadNJ the annual report and finandal statements of thg charity. Thefln8ndal 8tat8menls have bgon ppared in accord8nce vllth the accounting pollde8 8el out in tho notes to tho accounts ar comptywth Ihe charity's governing document. Ihe chatleS Act 2011 and knwunting Reporting by ChatIeS.. Statement of Recomm8nded Pracllce applicable to charities Pparfng their Unts in accordan¢8 with the Flnancial Reportlru Standard appll¢able in the UK 8nd Republlc of Irel8nd published in Octobgr2019. Tru8te8 of th8 Gharlty Th8 Trustee who Sarved durfru tho year and since the yearerKI w88 as lollows= Brachars Trust Corporabon Limited IAs8lgned direotor- Mr Chrfstoph¢r Eriksson-Le81 Brachgrs Tnjsl Corporatlon Limited romaln Ihe 8ppolnt8d trustee ttt MrChrf5topher Erfksson-Lee taklng an active role 85 8ssiqned Iru8t6e rèpffj$gnlalive Sn his capacity as director of Br8chers Trust Corporallon Limited. He Is 88818ted by gela Jarvls who1$ 8 Trust Manager ol Brach8rs Trust Corwration LSmlted. Oblectlvas and tI¥ll1&S The Edna Llnr*ll Charltable Trust's objectives are to apply the Income and the whole or such part or part8 of the capStal as thgy In thelr disGWtlon thinkfit, to or for the benofit of the Mahartshl Foundation IGBI or to orforthe b8nefit of such olherexclu8ively charitabla objecis gnd purp08es in the UK or ift any other part of the wortd. The poll¢l&s adopted In furthgrance of the Edna Llnnell Ch8rflabl8 Trust's oblective5 are to r8cognise the Importance of lh8 Maharfshl Foundation as the prlncSpal 0clIVe of the ¢h8rily and to support other charits"e8 to wtrK>m the late Mrs Unn811 wi5had io provide grants, In particular lo ch8rii85 helplro relief ol Sufferlng of animals. Th8 Edna LIrtrlI Charftabl& Trust own8 att 8e.86% share of a property, 29 Abdale Road, Shepherds Bu8h, London, which18 consld8red to be suit8ble for the programme of the Maharfshl F0Ulldati. Thg remainiru shar8 of the property is owned by The Surya Trust Ichatty Regi8tiation No. 2918541. Durfng the y8ar. the Twst68 continued wth thèlr programrna of dOnatn8, Ix)nUnulng lo asslst the Maharf8hi Foundatlon. Th8 51rategy Is to m8inlaln a con88rvaUvo Investment programm8 designed to achieve income along wlth capitsl growth In ord8r to 8U5taln a long-t6m grant-making programme. On 18 September 2020, the charlty provKled th8 M8harishl Foundalon wfth a thSrd party legal mortgage of £130,000. Ongoing grants ar8 revlewed by the Trustee annallY and th8 Trustee exaMIS requests lor fundiro from diff8r8nt parts of th8 Mahad5hl Foundation. The Trustee Is also 8ware of other ¢harilles to whom lh8 late th Llnnell wlshed to provide grants, In particular to ¢harilie5 helping the rellef ol 8uff8rlng ol anlmals, and Is able to award grants to 8uch ¢hariti&s on a Case by case ba81&
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2022 Publlc b8nefft 8ta¢emont Th8 Trustee confirms that they have referred to the guldance contalned In th6 Charlty Q>mm1s51on's General Guidance on publlc bonefilwhen reIng the alms 8nd ObjeYes, planning future activities, and setting th8 granl-making pollcy forth& year. Achiev8mants and rf0mlan¢9 During the year 8nd8d 28 February 2022, the Trustoè approved grant5 totalllng £24,313. The Maharfshl School ra1Ved £24,313 to fund Transcendental Medilation (TMI instructn for prirnary school and earfy y8archildron. Rfrvtow of flnanclal p081flon anil &ctlvltle8 The rt8ult8 forthe year are setout on page 6. Total Income for the year amounted to £27.48112021.. £27,995). GnIS payable of £24,31312021 .. £15,3131 are sgt out in note 3. After acttsunting for investment management arK1 related co$ts1£12.5991 and olher¢osts1£26,9831 the fur curred a net deficil of £38.414 bèfo recognising net investm8nt tortfolh) gal. Reallsed galns of £10,149 and unreallsed galns of £21.780 on tho Investment porttollo were also re¢ogni5ed in the year. Golng concern The Trustee has consldered the impact of lh8 CO Pandemlc on the charttl8 funds and operatlons. He bellev88 adequate steps have beèn taken to mitioate the extènt of any adverse impact and ha5 no reason lo believe that commilled grant funding obligation8 al 28 February 2022 wlll not be futh'lled. Plansfor tha fuluro perlods The Trustee will conlinufy to revlew the trust InV8Stments, in conslderalion of curr8nl matket condltK)n8, 8fter r179 considerlng advice olstod(brokèrs, and in the context of grant applications r8celved. Reserves Ilncluding Reserves Pollcyl Th& Trustee Intends to build funds which shoukl grow in rgal terms in orderto provlde funds forfutu charitabl8 use. The value of the reserves 81 thg ygar end was £2,526,49412021.. £2,530,979). The Trustee bolleves this to be adequate to support Ihe ch8ritls conllnued olationS lo prode a fund for except1 grants when th arise from tim& ¢0 tlme. 11 is the polley of the ¢harltyto ulllmately tnalntaln'free resèrv8$' Ib&Sng fhat elernt on the unreslrfcted reserv8s whlch Is notfunding investments) of approximately one yearfs running St$. AS at 28 February 2022, the free reserve5 of *h8 charfty amouniad lo £185,40012021.. £216,3031. The Trustee ¢onsid8rs the closing level as sufflcient to support their anlidpaled grant maklng expenditure In the followlw Iw8lve months, Including any unfoSeen urgenlch8ritsble appllcationg. De$Trated fund8 at 28 Fgbruary2022 total £2,341,09412021.. £2.314,8761- se8 note 11 for dotsllg. Rlsk management The Trustee has reviewed th8 major risk5 tD which the charity Is expgsed and sygtetn8 hav8 been establishod lo mitigat& these risks. The fund8 Invested and tfKJ8e held on deposit are subj&cl to the corn lance proeodure5 of both the charivs Inve5tmanl 8dvlsors and Brachèrs LLP.
THE EDNA LINNELL CHARITABLE TRUST TRUSTEE REPORT ICONTINUEDI FOR THE YEAR ENDED 2B FEBRUARY 2022 stru¢ture, govèrnan and mana9gm8llt The Edna Linnell Charitable Trust W85 establi5had and18 govèmed ty a Iru5t deed pursuant to the Will ol Edna Rosemarle Linnell dated 20 Fobwary 1997. Edna R05emari8 Linnell dled on 6 JAN8ry 1999. The trust Is a reg18tered ¢harity (charity number 109247ei. The trust has a stralghtforward structure as R exists prfnclpally foi tho purp08e of mabng grants to worthy tharltable rau5e5, t)etails of the twstee boarf ar9 Qutllnod on Page 2. Th8 Trusle? considers the fulure as w811 as eAstlng Inv88tmènt Is$u88 and donabon8. On behalf of thèTrustee C Erlks$on-Lee on behalf ol Brachers TTUSt Corporatlon Llmlled Dat.. 161 I ILIIOLZ
THE EDNA LINNELL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE EDNA LINNELL CHARITABLE TRUST I report to th8 trust88 r8pr8sentsUve on my &xarninatlon of Ihg a¢Unts of The Edna LSnnell Charitable Trust for yEar &red 28 February 2022, which are sel out on page$ 6 to 14. Rosponslblllt188 and ba$1$ of report A5 the chaty Trustee of the Trust you are re5ponsiblo for the preparal'on of the a¢wunts in sccorcf8n1 wllh the requlrements of the Charit188 Act 2011 Ithe'A¢t'l. I report in resp8ct of my examlnatlon of Ihe Tru8Vs accounts carried out under $tIon 145 of tha 2011 Act In (tnwng out my oxamlnatlon I hav8 followed 811 the appllcable Dire(Xiorbs given by the Charity Commls$lon under Section 14515llbl of the ACL Independent gxamln&rf$ statement I have completed my examinatn. I cJ)nfirm that rK) mat8d81 mattets have come to my attention In eonn8Ctk)n wth the ex8mlnatlon gfving me cause to bellevg that In any material respect.. aOUnng rewrd3 wer8 not kept In respect of the Trust as required by sethon 130 of the Aot,. or tho aco)unts do not al[d %th those r8o)rds,' or the acwunls do not comply with the applicable reouirements conceming the form and content of accounts 58tout In thè Charities (Accounts Report51 Regulations 2008 otherthan any requ1ment that the aizounts glve a Yru8 8nd falr vlew whlch 18 not a matter consldered as part ol an Independent examination. I hav6 no (x)ncems 8nd have come across m other maller8 In connectll with th8 examlnation to which attentSon should be drawn In this r&port in order to enable a prowr urforstandlng of the 8ccounts to b6 r8ach8d. M Wllkes FCA gts Audlt Servl¢8s Globe House E¢llpse Park sitngboumtt Road Maid8ton8 Kent. ME14 3EN Date-. 19 Dec8mb81 2022
THE EDNA LINNELL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022 Unrestricted Funds 2022 Unrestrictéd Funds 2021 Notes Income from: Investmanl Income 27,481 27,995 Tot81 Income 27,481 27,995 Expendlture on: Charflable actlI1e8 (Grants payable) Costs of raldng funds Other costs 24,313 12,599 26,983 15,313 10,700 26,842 Total expondlturo 63.895 52,855 Net expenditura 136,414) 124.860) Nel galnslllossos} on investmènts 31,929 146,906 Net movgment In fund8 14,4851 122.046 Total funds brought foNard 2,530,979 2,408,933 Total funds carri8d forward 2,626,494 2,530,979
THE EDNA LINNELL CHARITABLE TRUST BALANCE SHEET AS A T 28 FEBRUARY2Q22 2022 2021 Notos Flxed assets Investment properties Llslod invèstments Programme Related Investments 807,253 1,524,565 52,078 807,253 1.504,246 60,478 2,383,896 2,371,977 Curront assets Debtors due wllhln 1 year Debtors due In more than 1 year Cash al bank and in hand 85 133,170 28,687 139,020 7,912 Total curr•nt assèts 146,932 161,942 Credltor8.' amounts falling dua wlthin on8 yaar 10 {4,334} 12.940) Net Gurrgnt assetsllllabllltSesl 142,598 159,002 Ngt assets 2,526,494 2,530,979 Charity funds Unreslrfcled funds Designated funds General funds 11 2,341,094 185,400 2,314,676 216,303 Total unreslrfcled funds 2,526,494 2,530,979 The accounts were approved by the Trustee on C Eriksson-Lee on behalf of Brachers Trust Corpo¥alion Limltsd Tiustèe
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 2B FEBRUARY2022 Ac¢ountlng pollcl¢$ General InfotTn4tlon and basls of proparatlon The Edna Linnell Charitable Trust IS 8 charlty reglstered wlth th8 Charfty ComrTri5sh)n in Eland and Wal6s (registered numb8r 10924761. The add$$ of the wi$tsr8d oftice is given In the Charity Infomalon on pago 1 of these flnanclal statement5. The nature of the charitys oper8tions and principal adviI98 8re to r8cognEe the ImrtanCe of the Maharf8hi Foundation 8nd lo support that charltable or5an1sallon and other charrtSes with aims and obj&ctives wllh which the orlglnal Se£t]or Ith8 late Mrs Linnelll would havè been In 8gr6emenl based on her legaGywshg5. The charity conslltutes a publlo benefit enllty as deflned by FRS 102. The financial 8tatemont8 havo been prepared In accordancg wllh Accounliro and Reportlng by Charilie8.' Ststem8nt of Recx)mm8nd6d PmctiC8 applS¢ab18 to ¢harltles preparing Ih8ir accounts in 8ccordanc8 tho Flnancial ReFX)rtlng Standard 8pplicabl& in the UK and Republ1¢ of Ireland IFRS1021 i55ued In 2019, the Flnancial Reportlng Standard applicable In Ihg Unltod lQ"ngdom and R9publl¢ of Ireland IFRS1021, tre Charill8s Act 2011 and UK GenerallyAccepted Praelic6. The eharity has opted not to prepare a cash flowsta18m8ntforth8 fin8ncial period. as pemltted by the 2019 Sta19ment of Rgcomrnended Practice. The linandal statsm8nt8 have beon prePad to give a trug snd faIre, and have departed from the charities IA¢counts and Rèports) R8gulatK>ns 2008 only to the ext6nt requlr8d to PrOde a'true 2nd falr view,. Thls d8parturo has involved followiw the Ac¢ounling and ReportlrvJ by Chadb'85.' Statement of reoommended Pracffjce applicab16 to c*)arSJes prepariro th8Sr sccounts In accordancè with the Flnancial RtsrtIng St8ndard appllcable in the UK and R&publicof Iroland IFRS 1021 issued In 2019. The flnanclal statements are prepared on a golng u)ncem bas18 underthe hlsloriGal wst cOnventn. modified to include certain items Bt fairvaluè. The flnandal statem8nt8 S pr88ented in sterliry whlch18 th8 funouonal currerty of the charity and round8d to the naar8st £. The signlficant 8C(X)L4ntlng policies opplled In the preparation ol th&s8 financial stst8ments are selout below. These polldes have been o)nslst8ntly applied lo all years pr88enled unl8&8 otheSe stalgd. Funds The funds held by the charlty are unrestrl¢t8d funds whh can be used in aceordance wlth the charftable oblectlv&s at the discretion of the Trustee. DeSIgnat funds cotnpd$8 funds whl¢h have bèen set 8sldè at the dlscretlon of th8 Trustee for specific purp08es. The purposes 8nd uses of Ihe de8ignated fu5 are satout In th8 notes to the finand813tatements. Incorne recognltlon Donations, legacies and other forrns of voluntary Inc¥)m& arg r8cognised 88 InMe hvhen recelvablg. 8x¢8pt Insolar as they 8re Incapable of flnandal mea$ur8ment. Inrne from Inve$bY8nts is reryonised when reeeivable. 1A Expendlturg rocognltlon All oxpgnditure is accounted for on an accnjals b881$ and has b99n classEfied urvjer headlngs that aggrewte All costs related to tho rategory. Grant expendituro Is rocognlsed th8n awarded tti the reclplent. The expense is included on an acwals b851s In Ihe year In whth 8 legal or construotivo obligation to pay1 grant ark80$. C08t5 of ralsing fund5 are those Inv98tmenl manageMlf888 for both nme generation and (apltsl tnalntenance. Charltable actSwtles Indude expgndllure associatsd with th8 making of grants donatlons 8nd IrKlude txith the dlrect rL)sts and indireci costs r8lating to these 80tfvities, on an accruals ba61s.
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAIR ENDED 29 FE8RUARY2022 1A Exponditura recognlllon Icontlnuedl Irrocovèrable VAT 18 charged agalnsl the category of r680urce expended for which itwas incurred. Investmènt Propertie Investm8nt properti88 forwhlch falr vBlue can be measured wllablywthout undu& rA)$t or effort are me8sured atfair vallse at each pOrtIng datè and changes In falrvalue roeogniBed in'n81 gainsllloss&sl on inveslmenls, In the ststernenl of Financial Aelivi118s ISOFAI. A Trustee opinion of falr value is provided wh8rg bl b beligved thatthe benefit of obtsinlng an ependent valualon would be exceeded by the time alDr cosl ol securing such a valuaOn. In¥eBtm$nt$ Investments a reeognised at f8k valu8 vthl¢h Is normally the trans8¢tion prfce excluding IransaclDn costs. Subsequently they ar8 m8asur8d at falr value Mth recognlsed Sn 'net gainsllo8se5 on Investments, in the SOFA if shares aro publicly traded Dr their fair valu8 can othErwi5e b8 measud reliably. Realised profits and bss8s arfslng on investment dlsposal8 ar8 rwnlsed In the SoFAwhen the prOed$ are receivable. Programme related invagtmenls are iluded al loan investment cxjst 188s planned repaym8nl8 by the charttable bentrficiary, le88 any provlslon fordlmlnish5ng value, or impalmient. Debtors and Crèditors recalvable I payable within one year Debtors and fftdltors with no stat interest rale arKI receivabl8 or payable wthin one y8ar ar8 re¢orded at Irans8CtSon pri(x. Any losses arislng from Impairm8nt are recogntsed in expendiluro. Impalment Ass818 not m8a8ur8d al fair value are revi8wed for ary Indlcatlon that the asset may be ImpaId at each balance sheet date. If such Sndication ets, the recnv&r8ble atnount of th8 a888t. or the asset's cash g8n8rdllng unll Is 6slimated and compar8d to the c8rrylrvJ amounL Where the carr)4ng amount exceeds 11$ r6¢0vgrable amount, an irnpairment loss 1$ recognised in profit or Ioss unl8s$ the assol Is Garfed at a revalued amount wh&re th8 Impalment loss Is a revaluatK>n daeaSe. 1.90 Tax The tharlty Is an 9xempt charity withln th8 m88ning of schedule 3 of the Charlties Act 2011 and is con81dered to pas5 the test5 58t out in Paragraph 1 Schedule e Finance Acl2010. 1.10 Golng Concern The finan¢lal ststemenls hav& been prBpared on 8 golng concèrn ba818 88 th& Trustee bèllevts8 that no material uncertainties exist. The Trustee ha8 ¢onsIded the lev81 of fuAls held and the expected levgl of ncome and 8xpenditur8 for 12 months from authorising Iheso f5nan¢lal staternenls. They b8lleve the antirdpated 8xpenditu wlll bo ad6qualelylundsd given the 8xisting level of reserves for lh8 charty to b& able to continuo 88 9 going concem. 1.11 Judgements 2nd key $ourG85 of estlmatlon un¢ortalnty In the Application ol tho chadlvs accounuw pollcle$, th6 Truste8 Is r8qulred to makeludgem8nts. e3Imates and 888umplion8 about the ¢arrylng arnount of assets and Ilabilltlès that are rK>I roadlly apparentfrom oth8r sources. The estlmates and associated 88sumptions are based on historic81 expgden¢e and other factors Ihal are nSIder to bg relgvant. A¢tual results may drffer from trese &stimatès. Histr)ri¢8lly areas of judgement have not had a material Impaot on the charitys financial statements. The 8stima188 and VrIyng assumptk>ns are reviowed on an ongoing b88is. R8vlsions to a¢¢ounting 88tlmates are recognised in th6 period In whlch the esumate Is remsed wh8re th8 revlsion gffects only that Poriod, or In the period of th& revision ar future perfods where the r8vislon affects both currenl and future perlods.
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUED> FOR THE YEAR ENDED 28 FEBRUARY 2022 Investment InGom6 2022 2021 Income from Ilsled inveslm8nts Inleresl recelvable 21,631 5.850 24.824 3.171 27,481 27,995 Expendliurg 2022 2021 Charitable activitlos Grants to inslilutbons '. Calchlng Lives Maharishi Foundation 1,000 14,313 24,313 24,313 15,313 R&conciliatlon of grants payab19 Commltsnents al 1 March 2021 Commitments made in the year Grar)ts pald durtng the year 14,000 15,313 {29,3131 24,313 {24,313) Commitments al 28 F&brLJary 2022 Costs of raislng funds Investment managers, fees LEI number 12,527 72 10,628 72 12,599 10,71X) 10-
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2022 2022 2021 Expenditure {Gontinuèdl other costs Management, admlnlslrafjon and accounts production Independent examlnallon fees Accountancy fees pald lo Independent examlner Properly costs Withholdlng lax 14,995 2,520 480 8.871 117 23,673 2.340 738 91 26,983 26.842 Total ,895 52,855 Trusta8 and kay manag8mant porsonal remuneration and expenses The Trustee lor any persons connected with them) dld not rocelve or walve any remuneration durlng tho year. The Trustee dSd not have any expenses relrllbursed durfng the y88r. During the year the trust was charged £14,99512021.. £23,673) forlggal advlce. accounts production, and day lo day admlnistrallon by Brachers LLP, a flrm of sollcllors, of which Mr C Erlksson-Lee Ilruslee represenlalive during the year) was a partner. At the year end the tru81 owed £1,814 {2021.. £nil} lo Brachers LLP. Employogs There were no employe6s durbng the year. Invgstment properties Land and buildlng$ Falr valu9 Al 1 March 2021 and at 28 February 2022 807.253 The most recent open market valuallon of the investrnenl property lan 86.660/D share in 29 Abdale Road, Shapheids Bush, London} was made September 2015. The Trustee is of the oplnlon that the slated faSr value for the property remains relevanl and appropllate al 28 February 2022. The property Is used on a rent free basls by the Maharish5 Foundallon.
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2022 Listed Invastmant$ 2022 2021 Market value al 1 Mar¢h 2021 Disposal proceeds Acqulsillon8 al cost Reallsed galns on inveslm$nts Unrealisedltsssos on inveslmènls 1.446,945 1145,5321 148,421 1,532.061 {724,7651 492,743 10,149 21.780 15ri,070 13,1641 Nel galnsl{lossesl on Investments 31,929 146,906 Market value at 28 February 2022 1,481,763 1,446,945 Cash held for Investment 42,802 57,301 a0( value at 28 February 2022 1,524,565 1,504,246 HSslorical costs of Invesmgnts 1.298,973 1,302,00 Thè portfollo was comprised as fotlows.. Equllles Fixed Interèst Securflles A11ernalNe Ass81s Cash 610,358 172,257 699.148 42.802 721,129 199,394 526,422 57.301 1,524.565 1.504,246 Material Investments Icomprfslng more than 5% of Ihg charity's overall share portfolio by value} al 28 February 2022 were 9s fol$.. Lionlrusl Speolal Siluatlon8 RIT Capltal Partners Link fund Solutions Capila Trojan X Fundsmllh LLP 87,932 91,575 77,118 77,064 12-
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2022 Programme Related Invo$tmonls Loan balBnc¢ at 1 March 2021 60,478 Movèment in year Irepaymentsl Loan balan¢e al 28 F8bTuary 2022 18,4001 52.078 The orfglnal loan was made lo the Blaeklhorn Trust In 2013 and was for £105,171. It was made on an Interest fr88 basis and remains repayable ovèr 20 years. A fLJrther arnounl of £7,906 was added lo the loan In 2016, repayable over th& oxisllng lemi of the loan. As of 30 Novèmber 2017. a sum of £700 Is to be repald monthly. The loan Is secured over the freehold property owned by the Blackthom Trust. The Investment fundlng was made lo furth&r the Trusvs charltable aims and lo enablg the advancement of the charflable purposes of the Blackthorn Trust. The Blackthom Trust Is a registered charity (No. 11179791 provldlng medlcal care. speciallsl Iheraples and rehabilitation lo peopla th mgnt81 and physioal hèalth difflculties or learnlng difficulties, alming lo assist individuals lo pr(gress towards Ihelr full polgnllal. Debtors 2022 2021 Amounts due within one year.. Othèr debtors 85 Amounts due In more than one year.. Other debtors Loans receivablè 9,020 130,000 3,170 130,000 139,020 133,255 On 6 September 2019, a loan was m8de to Ihg Mahadshl Foundation for £130,000. The loan is due lo be repaid in full on 6 Septsmb6r 2024. Interest Is charged at a rale of 4.50A per annLJm, to be paid in cash on lermSnaUon of the loan. The loan Is secured on the followlng property.. Tho Peace Palace, Gardfjnla Close, Rendlesham. Woodbridge, Suffolk, England. io Creditors: amounts falllng du$ withln one year 2022 2021 Grants payable Other creditor8 4,334 2.940 4,334 2,940 13-
THE EDNA LINNELL CHARITABLE TRUST NOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY2022 11 Deslgnated funds 1 March New Designatlons 28 Febwary 2021 doslgnations ralaased 2022 Properly fund Investment fund 807,253 1,507,423 807,253 1,533,841 180,35D 1153.932) 1153.9321 2,314,676 180,350 2,341,094 1 March New Deslgnallons 28 February 2020 design8tlons reloased 2021 Property fund Inveslmgnl fund 807,253 1.598,839 807,253 1.507,423 639,649 1731,0651 1731,0651 2,406,092 639,649 2,314,676 Property fund - thls fund holds the sharg in the inveslmant property which is used by the Mahadshl Foundation. Investsnenl fund - thtr$8 funds are Invested lo maximise total retum and generate nel income. 12 Rolated party trans4ctlons The charSty dld not enter into any relat6d party transa¢tli)ng during the ygar12021.. £nil} othtrr than those sllpulaled In note 4. 14-