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2022-03-31-accounts

PAGE
Trustees' annual
report (incorporating		 the director's report)
Independent
auditor's		 report to the members
Statement of financial activities (including income and expenditure account)
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14

Reference and administrative and administrative details
Registered charity name The Percy Bilton Charity
Charity registration number 1094720
Company registration number 04529052
Principal office and registered 7 Culmington Road
office Ealing
London
W13 9NB
The trustees
Mrj R Lee
Ms H Bilton
Ms K Lansdown
Mr C L Sosna
Mr BChance
Company secretary Ms K Lansdown
Auditor BSGValentine (UK) LLP
Chartered
Accountants		 &Statutory Auditor
Lynton
House
7-12Tavistock Square
London
WC1H 9BQ
Bankers HSBC Bank PLC
46The Broadway
London
W5 53R
Solicitors Maples Teesdale LLP
30 King Street
London
EC2V BEE

2022 2021
Unrestricted Endowment
Note funds funds
f		 Total funds
f		 Total funds
E
Income and endowments
Charitable
activities		 5 1,045 1,045 16,000
Investment
income		 6 828,081 828,081 769,056
Total income 829,126 829,126 785,056
Expenditure
Expenditure
on raising funds:
Investment
management		 costs 7 103,167 103,168 102,681
Expenditure
on charitable
activities		 8,9 890,902 — 890,901 1,096,055
Totalexpenditure 890,902 103,167 994,069 1,198,736
Net losses/(gains)
on investments		 12 (1,560,080) (1,560,080) (7,334,750)
Net income and net movement in funds (61,776) 1,456,913 1,395,137 6,921,070
Reconciliation
offunds
Total funds brought
forward		 2,146,268 29,282,522 31,428,790 24,507,720
Totalfunds
carried forward		 2,084,492 30,739,435 32,823,927 31,428,790

31 MARCH 2022
2022 2021
Note E
Fixed assets
Tangible fixed assets 16 440,229 440,229
Investments 17 31,677,338 29,902,380
32,117,567 30,342,609
Current assets
Debtors 960 686
Cash at bank and in hand 798,635 1,120,420
799,595 1,121,106
Creditors: amounts falling due
within one year 19 (93,235) (34,925)
Net current assets 706,360 1,086,181
Total assets less current liabilities 32,823,927 31,428,790
Net assets 32,823,927 31,428,790
Funds ofthe charity
Endowment
funds		 30,739,435 29,282,522
Unrestricted
funds		 2,084,492 2,146,268
Total charity funds 21 32,823,927 31,428,790

YEAR END ED 31MARCH 202 2
2022 2021
E
Cash flows from operating activities
Net Income 1,395,137 6,921,070
Adj vstmenb
for:
Net losses/(gains)
on investments		 (1,560,080) (7,334,750)
Dividends,
interest and rents		 from investments (828,006) (769,056)
Other interest receivable
and		 similar income (75)
Accrued (income)/expenses (5,455) 5,485
Changesin:
Trade and other debtors (274) 101
Trade and other creditors 63,765 (98)
Cash generated
from operations		 (934,988) (1,177,248)
Interest
received		 75
Net cash used
in operating
activities		 (934,913) (1,177,248)
Cash flows from investing activities
Dividends,
interest and rents		 from investments 828,006 769,056
Purchases of other investments (15,924,243) (4,017,566)
Proceeds from sale of other investments 15,709,365 4,944,987
Net cash from investing
activities		 613,128 1,696,477
Net (decrease)/increase in cash and cash equivalents (321,785) 519,229
Cash and cash equivalents at beginning ofyear 1,120,420 601,191
Cash and cash equivalents at end ofyear 798,635 1,120,420

5. Charitable a ctivities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
E E E E
Grants returned 1,045 1,045 16,000 16,000
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
E E E. E
Income from listed Investments 828,006 8287006 769 056 769,056
Bank interest receivable 75 75
828,081 828,081 769,066 769,056
7. Investment management costs
Endowment Total Funds Endowment Total Funds
Funds 2022 Funds 2021
E E E E
Investment management fees 103,167 103,168 102,681 102,681
8. Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
E E E
Grants payable 772,808 772,808 1,002,671 1,002,671
Support costs 118,094 118,093 93,384 93,384
890,902 890,901 1,096,055 1,096,055

Expenditur e
on charitable		 activities
by activity t		 ype
Grant funding Total funds Total fund
of activities
f		 Support costs
f		 2022
E		 2021
E
Grants payable 772,808 772,808 1,002,671
Grant support costs 100,061 100,061 83,296
Governance costs 18,032 18,032 10,088
772,808 118,093 890,901 1,096,055

10. Analysis ofs upport costs
Analysis of
support costs Total 2022 Total 2021
E E E
Staff costs 75,584 75,584 73,519
Premises 16,579 16,579 5,761
General
office		 7,898 7,898 4,016
100,061 100,061 83,296
11~ Analysis ofgrants
2022 2021
E E
Grants to institutions
Grants to institutions 382,836 730,844
Grants to individuals
Grants to individuals 389,972 271,827
Total grants 772,808 1,002,671
12. Net losses/(gains) on investments
Endowment Total Funds Endowment Total Funds
Funds 2022 Funds 2021
f E
Gains/(losses) on listed investments 1,560,080 1,560,080 7,334,750 7,334,750
13. Auditors remuneration
2022 2021
E E
Fees payable for the audit ofthe financial statements 6,600 6,600

Staff co sts
The total staff costs and employee benefits for the reporting period are analysed
as		 follows:
2022 2021
E
Wages and salaries 67,455 65,704
Social security costs 2,868 2,673
Employer contributions to pension plans 5,261 5,142
75,584 73,519

received
b
Tangible		 y the trustees
in either the current or p
fixed assets		 revious year.
Freehold
buildings Equipment Total
E E E
Cost
At 1April 2021and 31March 2022 440,000 14,515 454,515
Depreciation
At 1April 2021and 31March 2022 14,286 14,286
Carrying amount
At 31March 2022 440,000 229 440,229
At 31 March 2021 440,000 229 440,229

Investments
Listed
investments
E
Cost or valuation
At 1 April 2021 29,902,380
Additions 15,924,243
Disposals (15,709,365)
Fair value movements 1,560,080
At 31March 2022 31,677,338
Carrying
amount
At31March 2022		 31,677,338
At 31 March 2021 29,902,380

18. Investments

Debtors		 are state d at quoted
market prices.
2022 2021
E E
Prepayments and accrued income 611 611
Other debtors 349 75
960 686
19. Creditors: amounts falling due within one year
2022 2021
E E
Trade creditors 63,783
Accruals and deferred income 28,463 33,918
Other creditors 989 1,007
93,235 34,925

At Gains and At
1 Apr 2021 Income Expenditure Transfers losses 31 Mar 2022
E E E E E E
General funds 1,949,049 829,126 (890,902) (42,056) 1,845,217
Designated
special reserve
fund 197,219 42,056 239,275
2,146,268 829,126 (890,902) 2,084,492
At Gains and At
1 Apr 2020 Income Expenditure Transfers losses 31 Mar 2021
E E E E E
General funds 2,338,977 785,056 (1,096,055) (78,929) 1,949,049
Designated
special reserve
fund 118,290 78,929 197,219
2,457,267 785,056 (1,096,055) 2,1'l6,268
Endowment funds
At Gains and At
1 Apr 2021 Income Expenditure Transfers losses 31 Mar 2022
E E E E E E
Expendable
endowment		 29,282,522 (103,167) 1,560,080 30,739,435
At Gains and At
1Apr 2020 Income Expenditure Transfers losses 31 Mar 2021
E E E E E
Expendable
endowment 22,050,453 — (102,681) 7,334,750 29,282,522

Unrestricted Endowment Total Funds
Funds Funds 2022
E E E
Tangible fixed assets 440,229 440,229
Investments 916,336 30,761,002 31,677,338
Current assets 799,595 799,595
Creditors less than 1year (71,668) (21,567) (93,235)
Net assets 2,084,492 30,739,435 32,823,927
Unrestricted Endowment Total Funds
Funds Funds 2021
E E E
Tangible fixed assets 440,229 440,229
Investments 592,836 29,309,544 29,902,380
Current assets 1,121,106 1,121,106
Creditors less than 1 year (7,903) (27,022) (34,925)
Net assets 2,146,268 29,282,522 31,428,790