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|---|---|---|---|---|---|---|---|
|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|
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|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|||||
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||||||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|
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||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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||||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||
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|||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|
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