2022-03-31-accounts - Gerald Palmer Eling Trust Company

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		Page
General information
Directors' report
Independent auditors'	report
Group statement offinancial activities		12
Group balance sheet		13
Company balance sheet
Group cash flow statement
Notes to the financial	statements	16


Directors							DRW Harrison (Chairman)
							RS Broadhurst
							A Cropley
							JW Gardiner
							KR McDiarmid
Company	secretary						Dl Hill
Company	registration			number			04738794
Charity registration			number				1100869
Registered	and principal				office		Eling Estate Office
							Hermitage
							Thatcham
							Berkshire
							RG189UF
Solicitors							Blandy Ik Blandy
							One Fffar Street
							Reading
							Berkshire RG11DA
Stockbrokers		and investment				managers	CCLA Investment	Management		Ltd
							Senator House
							85Queen Victoria	Street
							London EC4V 4ET
Auditors							Saffery Champness	LLP
							71Queen Victoria	Street
							London
							EC4V4BE
Bankers							National Westminster		Bank PLC
							30Market Place
							Newbury
							Berkshire RG14 5AG

					Unrestricted	Endowment	2022	2021
					fund	fund	Total	Total
							funds	funds
				Notes			E	E
Income
Investment	income			2	1,786,700		1,786,700	1,693,544
Total income					1,786,700		1,786,700	1,693,544
Expenditure
Charitable	activities
Estate maintenance					888,897		888,897	844,149
Grant making					312,908		312,908	395 373
Total expenditure					1,201,805		1,201,805	1,239,522
Net gain on	investments					706,660	706,660	807,469
Net income	in the	year			584,895	706,660	1,291,555	1,261,491
Transfer between		funds		13	(1,450,776)	1,450,776
Net gain on	revaluation		ofproperty	6
Net movements in funds					(865,881)	2,157,436	1,291,555	1,261,491
Reconciliation offunds
Total funds	brought forward			13	466,862	87,937,376	88,404,238	87,142,747
Total funds	carried	forward		13	(399,019)	90,094,812	89,695,793	88,404,238

					2022		2021
			Notes		f		f
Fixed assets
Land and buildings					84,991,366		82,997,401
Investments					5,485,396		4,778,736
Tangible assets					41,628		47,285
					90,518,390		88,512,401
Current assets
Stocks				12,394		2,190
Debtors				238,236		255,224
Cash at bank				4,680		334,128
				255,310		591,542
Current liabilities
Creditors: Amounts		falling due
within one year			10	(843,584)		(315,378)
Net current	assets				(588,274)		276,164
Total assets	less current				89,930,116		88,788,565
liabilities
Creditors: Amounts		falling due
After more than one		year			(234,321)		(384,327)
Net assets					89,695,795		88,404,238
Represented	by:
Endowment	fund		13
Revaluation	reserve			65,685,884		64,979,224
General reserve				24,408,930		22,958,152
					90,094,814		87,937,376
Unrestricted	fund		13		(399,019)		466,862
Total funds					86,695,795		88,404,238

					2022		2021
			Notes		E		E
Fixed assets
Land and buildings					84,991,366		83,686,380
Investments					5,485,496		4,778,836
Tangible assets					41,628		47,285
					90,518,490		88,512,501
Current assets
Stocks				12,394		2,190
Debtors				228,039		274,935
Cash at bank				858		179,533
				241,291		456,658
Current liabilities
Creditors: Amounts		falling due
within one year			10	(961,914)		(297,878)
Net current	assets				(720,623)		158,780
Total assets	less current
liabilities					89,797,867		88,671,281
Creditors: Amounts		falling due
after more than one		year			(234,321)		(384,327)
Net assets					89,563,546		88,286,954
Represented	by:
Endowment	fund
Revaluation	reserve			65,685,884		64,979,224
General reserve				24,408,930		22,958,152
					90,094,814		87,937,376
Unrestricted	fund				(531,268)		349,578
Total funds					89,563,546		88,286,954

						2022	2021
						Total	Total
						Funds	funds
					Notes	6	6
Cash used in operating	activities				20	(659,997)	(1,443,779)
Cash flows from investing		activities
Interest, dividends and	rents from investments					1,786,700	1,693,544
Property improvements						(1,301,986)	(688,979)
Purchase offixed assets						(5,375)	(23,803)
Cash provided by investing		activities				476,339	980,762
Cash flows from financing		activities
Repayment of loan						(145,790)	(139,324)
(Decrease)/increase in	cash and cash equivalents			in the year		(329,448)	(602,341)
Cash and cash equivalents		at the beginning	ofthe	year		334,128	936,469
Cash and cash equivalents		at the end ofthe	year			4,680	334,128
(Decrease)/increase in	cash and cash equivalents			in the year	21	(329,448)	(602,341)

				2022	2021
				Group f	Group f
Estate income
Rent and other property			income	1,538,964	1,512,811
Income from woodlands				96,763	33,943
				1,635,727	1,546,754
Investment income
Dividends				146,591	142,995
Interest				25	1,133
Income from royalties				4,357	2,662
				150,973	146,790
Total investment	income			1,786,700	1,693,544
Estate maintenance
				2022	2021
				Group f	Group f
Repairs				291,309	322,784
Insurance and other		property costs		414,880	112,137
Estate maintenance		costs		60,099	69,855
Woodlands costs				181,657	111,893
Net cost ofyard				14,753	15,780
Management charge				60,000	47,500
Support costs (Note		5)		139,199	134,200
				888,897	844,149

		2022	2021
		Group	Group
		E
Grants	to institutions	285,068	368,533
		285,068	368,533
Support	costs (Note 5)	27,840	26,840
		312,908	395,373

Autism Berkshire				7,000	7,000
Autistica				5,000
Berkshire Vision				5,000
Brendoncare				30,000	25,000
Cancer Research					5,000
Disabled Sailors Association				5,000
Helen & Douglas House				5,000
IPSEA				5,000
Leckhampstead PCC					7,000
Longcot Churchwardens		Account		5,000
Newlife				5,000
Priors Court					10,000
Rainbow Trust				5,000
Recovery In Mind				15,000	15,000
Royal Agricultural	Benevolent		Institution	5,000
Sebastion's Action	Trust			5,000
Smart Works Reading				5,000
St Barnabas Church, Peasmore				10,000
Sue Ryder				5,000
Support Through Court				5,000
Swings &Smiles				5,000
Thames Valley Air	Ambulance			5,000
The Porch Limited				5,000
The Royal Marsden	Cancer Charity			10,000
Treloar's				5,000
Ufton Court Education Trust				5,000
West Berkshire Mencap					10,000

Current year			Estate
			expenditure f	Donations f	Totalf
Office premises costs			11,469	2,294	13,763
Staff costs			21,636	4,327	25,963
Estate office	running	costs	12,282	2,456	14,738
Legal and financial costs			82,896	16,579	99,475
Governance	costs		10,917	2,183	13,100
			139,199	27,840	167,039

Comparative	year		Estate	Estate
			expenditure	f	Donationsf	Totalf
Office premises costs			12,438		2,488	14,926
Staff costs			14,347		2,869	17,216
Estate office	running	costs	10,377		2,075	12,452
Legal and financial costs			87,163		17,433	104,596
Governance	costs		9,875		1,975	11,850
			134,200		26,840	161,040

Land and buildings	Land and buildings
		2022	2021
		Group and	Group and
		company	company
Freehold properties
At valuation
1April 2021		83,686,380	82,997,401
Additions		1,304,986	688,979
Revaluation	in the year
31March 2022		84,991,366	83,686,380

Investments
				2022	2022	2021	2021
				Group	Company	Group	Company
						E	E
Market value
1April 2021				4,778,736	3,904,836	3,971,267	3,097,367
Additions
Disposals
Net (loss)/gain	on revaluation			706,660	706,660	807,469	807,469
31March 2022				5,485,396	4,611,496	4,778,736	3,904,836
Historical cost	at end of		year	2,508,389	2,508,489	2,508,389	2,508,489
COIF Charities Investment			Fund	4,382,908	4,382,908	3,820,297	3,820,297
COIF Charities Global Equity				785,995	785,995	675,808	675,808
Income Fund
COIF Charities Property		Fund		316,342	316,342	282,480	282,480
Investment in subsidiary					100		100
Unquoted investments				151	151	151	151
				5,485,396	5,485,496	4,778,736	4,778,836

The following 2022:	investments ea	ch constituted over 5per cent by va	lue ofthe portfolio a	sat31March
			Market value	Percent of
				Portfolio
			E	E
Holding
COIF Charities	investment Fund		4,382,908	79.909o
COIF Charities	Global Equity	Income Fund	785,995	14.339o
COIF Charities	Property Fund		316,342	5.779o
			2021	2020
			E	E
Reconciliation	ofunrealised	gains and losses on investments
Unrealised gains at beginning		ofyear	1,456,790	1,559,881
Net gain/(loss)	on revaluation		706,660	(103,091)
Unrealised gains at end ofyear			2,163,450	1,456,790

		Group and Company
	Vehicles	Office	Total
	plant and	Equipment
	machinery
	E
Cost or valuation
1April 2021	205,451	6,654	212,105
Additions	5,375		5,375
Disposals
31March 2022	210,826	6,654	217,480
Depreciation
1April 2021	162,097	2,723	164,820
Charge for year	10,246	786	11,032
Disposals
31March 2022	172,343	3,145	175,852
Net book value
31March 2022	38,483	3,145	41,628
31March 2021	43,354	3,931	47,285

Debtors
			2022	2022	2021	2021
			Group f	Company f	Groupf	Companyf
Trade debtors			143,824	147,627	168,939	168,625
Development costs			57,974	57,974	43,164	43,164
Amounts owed	by	EDL				23,894
Prepayments and accrued			31,460	27,726	32,305	28,436
income
Sundry debtors			4,978	4,978	10,816	10,816
			238,236	228,039	255,224	274,935
Creditors: amounts		falling due within one year
			2022	2022	2021	2021
			Group f	Company f	Group f	Companyf
Bank loans (note 11)			147,627	147,627	143,413	143,413
Bank overdraft			313,595	313,595
Trade creditors			212,579	211,259	33,156	33,156
Amounts owed	to EDL			137,067
Rents received	in advance		14,764	12,064	10,004	7,629
Tenant deposits	refundable		101,585	88,933	101,204	87,929
Accrua Is			45,099	43,034	22,642	20,792
HM Revenue fk	Customs		312	312	4,959	4,959
Sundry creditors			8,023	8,023
			835,561	961,914	315,378	297,878

Current year	Current year						Unrestricted	Unrestricted	Endowment	Endowment
								Fund		Fund		Total
								f		f		f
Total funds	brought		forward					466,862		87,937,376	88,404,238
Income								1,786,700				1,786,700
Expenditure								(1,201,805)			(1,201,805)
(Loss)/Gain	on investments									706,660		706,660
Transfer between		funds						(1,450,776)		1,450,776
Total funds	carried		forward					(399,019)		90,094,814	89,695,793
The transfer	from		the	unrestricted		fund	to the	endowment	fund	represents	the	costs of
maintenance	which		have	been	capitalised,		net of repayments		on bank loans attached			to the
properties.
Comparative	year						Unrestricted		Endowment
								Fundf		Fund f		Total f
Total funds	brought		forward					841,195		86,301,552	87,142,747
Income								1,693,544				1,693,544
Expenditure								(1,239,522)			(1,239,522)
(Loss)/Gain	on investments									807,469		807,469
Transfer between		funds						(828,355)		828,355
Total funds	carried		forward					466,862	87,937,376		88,404,238

Current year	Unrestricted	Endowment
	Fund	Fund	Total
	f	f	f
Land and buildings		84,991,366	84,991,366
Investments		5,485,396	5,485,396
Tangible fixed assets	41,628		41,628
Current assets	255,310		255,310
Current liabilities	(695,957)	(147,629)	(843,586)
Long term liabilities		(234,321)	(234,321)
	(399,019)	90,094,812	89,695,793
Comparative year	Unrestricted	Endowment
	Fundf	Fundf	Totalf
Land and buildings		82,997,401	82,997,401
Investments		3,971,267	3,971,267
Tangible fixed assets	37,271		37,271
Current assets	1,150,574		1,150,574
Current liabilities	(346,650)	(139,774)	(486,424)
Long term liabilities		(527,342)	(527,342)
	841,195	86,301,552	87,142,747

year at a cost off126,	156.
		2022	2021
		f	f
Wages and salaries		109,395	102,505
Social security costs		5,740	5,297
Pension contributions	(Note 16)	11,021	10,620
		126,156	118,422

				2022 g	2021f
Net movement in funds				1,291,555	1,261,509
Add back depreciation				11,032	13,698
Less interest income,	dividends		and rents from investments	(1,786,700)	(1,693,544)
Losses/(gains) on investments				(706,660)	(807,469)
(Increase) in stock				(10,204)	(847)
Decrease/(Increase)	in	debtors		16,988	(42,480)
Increase/(decrease)in		creditors		523,992	(174,646)
				(659,997)	(1,443,779)

		At 1April	Cash flows	Other non	At 31March
		2021 6		cash changes f	2022 6
Cash		334,128	(329,448)		4,680
Overdraft			(313,595)		(313,595)
Loans falling	due within one	(143,413)	145,792	(150,006)	(147,627)
year
Loans falling	due after one	(384,327)		150,006	(234,321)
year
		(193,612)	(497,251)		(690,863)

	2022	2021
	E
Turnover	105,325	107,900
Property Costs	(23,895)	(41,712)
	81,430	66,188
Overheads	(2,548)	(2,271)
Profit before tax	78,882	63,917
Taxation
Profit after tax	78,882	63,917
Share capital	100	100
Profit and loss reserves	132,249	117,284
Capital and reserves	132,349	117,384

			Unrestricted	Endowment	Endowment	2021
			fund		fund	Total
						funds
						E
Income
Investment income			1,693,544			1,693,544
Total income			1,693,544			1,693,544
Expenditure
Charitable activities
Estate maintenance				844,149			844,149
Grant making				395,373			395373
Total expenditure			1,239,522			1,239,522
Net (loss)/ gain on investments					807,469		807,469
Net income in the year				454,022	807,469	1,261,491
Transfer between funds				(828,355)	823,355
Net gain on revaluation		ofproperty
Net movements in funds				(374,333)	1,635,824	1,261,491
Reconciliation offunds
Total funds brought	forward			841,195	86,301,552	87,142,747
Total funds carried	forward			466,862	87,937,376	88,404,238