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||||||||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|
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|Reference|and administrative|and administrative|details|details||||
|---|---|---|---|---|---|---|---|
|Registered|charity name||The Percy Bilton||Charity|||
|Charity registration||number|1094720|||||
|Company|registration|||||||
|number|||(8529052|||||
|Principal office and||||||||
|registered|||Bilton House|||||
|office|||7 Culmington|Road||||
||||Ealing|||||
||||London|||||
||||W13 9NB|||||
||||Mr 3 R Lee|||||
||||Ms H Bilton|||||
||||Ms K Lansdown|||||
||||Mr C LSosna|||||
||||Mr BChance|||||
|Company|secretary||Ms K Lansdown|||||
|Auditor|||BSGValentine|(UK) LLP||||
||||Chartered
Accountants|||S.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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|||||2023||2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Endowment|||
|||Note|funds
f|funds
f|Total funds
f|Total funds
f|
|Income and endowments|||||||
|Charitable
activities|||3,508||3,508|1,045|
|Investment
income|||904,905||904,905|828,081|
|Total income|||908,413||908,413|829,126|
|Expenditure|||||||
|Expenditure
on raising funds:|||||||
|Investment
management|costs|7||51,602|51,601|103,168|
|Expenditure
on charitable
activities||8,9|967,198|—|967,199|890,901|
|Total expenditure|||967,198|51,602|1,018,800|994,069|
|Net losses/(gains)
on investments||12||2,308,974|2,308,974|(1,560,080)|
|Net (expenditure)/income|and net||||||
|movement
in funds|||(58,785)|(2,360,576)|(2,419,361)|1,395,137|
|Reconciliation offunds|||||||
|Total funds brought
forward|||2,084,492|30,739,435|32,823,927|31,428,790|
|Total funds carded forward|||2,025,707|28,378,859|30,404,566|32,823,927|
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|||31|MARCH 2023|||
|---|---|---|---|---|---|
||||2023|2022||
|||Note||||
|Fixed assets||||||
|Tangible
fixed assets||16|440,229||440,229|
|Investments||17|29,583,756||31,677,338|
||||30,023,985||32,117,567|
|Current assets||||||
|Debtors||18|611|960||
|Cash at bank and in hand|||422,880|798,635||
||||423,491|799,595||
|Creditors: amounts|falling due|||||
|within one year||19|(42,910)|(93,235)||
|Net current assets|||380,581||706,360|
|Total assets less current liabilities|||30,404,566||32,823,927|
|Net assets|||30,404,566||32,823,927|
|Funds ofthe charity||||||
|Endowment
funds|||28,378,859||30,739,435|
|Unrestricted
funds|||2,025,707||2,084,492|
|Total charity funds||21|30,404,566||32,823,927|
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|YEAR END|ED 31MARCH 2|023||
|---|---|---|---|
|||2023|2022|
|||f|f|
|Cash flows from operating
activities||||
|Net (expenditure)/income||(2,419,361)|1,395,137|
|Adjusts
for:
Net losses/(gains)
on investments||2,308,974|(1,560,080)|
|Dividends,
interest and rents from investments||(904,905)|(828,006)|
|Other interest receivable
and similar income|||(75)|
|Accrued expenses/(income)||1,265|(5,455)|
|Changes in:||||
|Trade and other debtors||349|(274)|
|Trade and other creditors||(51,590)|63,765|
|Cash generated
from operations||(1,065,268)|(934,988)|
|Interest received|||75|
|Net cash used
in operating
activities||(1,065,268)|(934,913)|
|Cash flows from investing
activities||||
|Dividends,
interest and rents from investments||904,905|828,006|
|Purchases ofother investments||(5,462,481)|(15,924,243)|
|Proceeds from sale ofother investments||5,247,089|15,709,365|
|Net cash from investing
activities||689,513|613,128|
|Net decrease ln cash and cash equivalents||(375,755)|(321,785)|
|Cash and cash equivalents
at beginning|ofyear|798,635|1,120,420|
|Cash and cash equivalents
at end ofyear||422,880|798,635|
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|5.|Charitable|a|ctivities|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds|2023|Funds|2022|
|||||||f|E|f|f|
||Grants returned|||||3,508|3,508|1,045|1,045|
|6.|Investment||income|||||||
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds|2023|Funds|2022|
|||||||E|E||f|
||Income from||listed investments|||904,905|904,905|828,006|828,006|
||Bank interest||receivable|||||75|75|
|||||||904,905|904,905|828,081|828,081|
|7.|Investment||management||costs|||||
|||||||Endowment|Total Funds|Endowment|Total Funds|
|||||||Funds|2023|Funds|2022|
|||||||E|E|f|f|
||Investment|management||fees||51,602|51,601|103,167|103,168|
|8.|Expenditure||on charitable||activities|by fund type||||
|||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|||||||Funds|2023|Funds|2022|
||||||||E|E|E|
||Grants payable|||||844,723|844,723|772,808|772,808|
||Support costs|||||122,475|122,476|118,094|118,093|
|||||||967,198|967,199|890,902|890,901|
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|9.|Expenditure|on ch|aritable activities|by activity t|by activity t|ype|||
|---|---|---|---|---|---|---|---|---|
|||||Grant|||||
|||||funding|of||Total funds|Total fund|
|||||activities
f||Support costs
f|2023
f|2022
f|
||Grants payable|||844,723|||844,723|772,808|
||Grant support|costs||||96,437|96,437|100,061|
||Governance
costs|||||26,039|26,039|18,032|
|||||844,723||222,676|967,199|890,901|
|10.|Analysis ofsupport||costs||||||
|||||||Analysis of|||
|||||||support costs
f|Total 2023
f|Total 2022
f|
||Staff costs|||||76,427|76,427|75,584|
||Premises|||||14,452|14,452|16,579|
||General office|||||5,558|5,558|7,898|
||Finance costs|||||26,039|26,039|18,032|
|||||||122,476|122,476|118,093|
|11.|Analysis ofgrants||||||||
||||||||2023|2022|
||||||||f|f|
||Grants to institutions||||||||
||Grants to institutions||||||426,266|382,836|
||Grants to Individuals||||||||
||Grants to individuals||||||418,457|389,972|
||Total grants||||||844,723|772,808|
|12.|Net losses/(gains)||on investments||||||
|||||Endowment||Total Funds|Endowment|Total Funds|
|||||Funds||2023|Funds|2022|
|||||f||f|f|f|
||Gains/(losses)|on listed investments||(2,308,974)||(2,308,974)|1,560,080|1,560,080|
|13.|Auditors
remuneration||||||||
||||||||2023|2022|
||||||||f||
||Fees payable for the||audit ofthe financial|statements|||7,200|6,600|
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|Staff co|sts|||||
|---|---|---|---|---|---|
|The total|staff costs and|employee|benefits for the reporting|period are analysed
as|follows:|
|||||2023|2022|
|||||f|f|
|Wages and salaries||||69,061|67,455|
|Social security costs||||2,008|2,868|
|Employer|contributions|to pension|plans|5,357|5,261|
|||||76,426|75,584|
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|received
by the trustees
in either the current or p
Tangible fixed assets|revious year.|||
|---|---|---|---|
||Freehold|||
||buildings
f|Equipment
f|Total
f|
|Cost||||
|At 1April 2022 and 31March 2023|440,000|14,515|454,515|
|Depreciation
At 1April 2022 and 31March 2023||14,286|14,286|
|Carrying amount||||
|At 31March 2023|440,000|229|440,229|
|At 31March 2022|440,000|229|440,229|
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|Investments||
|---|---|
||Listed|
||investmentsf|
|Cost or valuation||
|At 1 April 2022|31,677,338|
|Additions|5,462,481|
|Disposals|(5,247,089)|
|Fair value movements|(2,308,974)|
|At 31March 2023|29,583,756|
|Carrying
amount||
|At 31March 2023|29,583,756|
|At 31March 2022|31,677,338|
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|18.|Investments
Debtors|are state|d at quoted
market prices.|||
|---|---|---|---|---|---|
|||||2023|2022|
|||||E||
||Prepayments|and accrued income||611|611|
||Other debtors||||349|
|||||611|960|
|19.|Creditors: amounts||falling due within one year|||
|||||2023|2022|
|||||f|E|
||Trade creditors|||12,065|63,783|
||Accruals and|deferred|income|29,728|28,463|
||Other creditors|||1,117|989|
|||||42,910|93,235|
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||||||||At|
|---|---|---|---|---|---|---|---|
|||At||||Gainsand|31Mar 202|
|||1 Apr 2022|Income|Expenditure|Transfers|losses|3|
||||E|||E||
|General|funds|1,845,217|908,413|(967,198)|4,271||1,790,703|
|Designated||||||||
|special|reserve|||||||
|fund||239,275|||(4,271)||235,004|
|||2,084,492|908,413|(967,198)|||2,025,707|
||||||||At|
|||At||||Gains and|31 Mar 202|
|||1 Apr 2021
f|Income
E|Expenditure
E|Transfers
f|losses
f|2
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|
|Endowment||funds||||||
||||||||At|
|||At||||Gains and|31 Mar 202|
|||1Apr 2022|Income|Expenditure
f|Transfers
E|losses|3
E|
|Expendable||||||||
|endowment||30,739,435||(51,602)||(2,308,974)|28,378,859|
||||||||At|
|||At||||Gains and|31Mar 202|
|||1 Apr 2021
E|Income
E|Expenditure
E|Transfers|losses
f|2|
|Expendable||||||||
|endowment||29„282,522||(103,167)||1,560,080|30,739,435|
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|Analysis ofnet a|ssets between fund|s|||
|---|---|---|---|---|
|||Unrestricted|Endowment|Total Funds|
|||Funds|Funds|2023|
|||f,|f|f|
|Tangible fixed assets||440,229||440,229|
|Investments||1,186,265|28,397,491|29,583,756|
|Current assets||423,491||423,491|
|Creditors less than|1year|(24,278)|(18,632)|(42,910)|
|Net assets||2,025,707|28,378,859|30,404,566|
|||Unrestricted|Endowment|Total Funds|
|||Funds|Funds|2022|
|||f|f|f|
|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|
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