2023-03-31-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		14
Group cash flow statement		15
Notes to the financial	statements	16

					DRW Harrison
					A Cropley
					JW Gardiner
					KR McDiarmid
Company	secretary				DJ Hill
Company	registration		number		04738794
Charity registration			number		1100869
Registered	and principal office				Eling Estate Office
					Hermitage
					Thatcham
					Berkshire
					RG18 9UF
Solicitors					Blandy Ik Blandy
					One Friar Street
					Reading
					Berkshire RG1 1DA
Stockbrokers		and investment		managers	CCLA Investment	Management		Ltd
					Senator House
					BSQueen Victoria	Street
					London EC4V 4ET
Auditors					Saffery LLP
					71Queen Victoria	Street
					London
					EC4V 4BE
Bankers					National Westminster		Bank PLC
					30Market Place
					Newbury
					Berkshire RG14 SAG

Cara Turtington (Senior Statutory		.......2023
For and on behalf ofSaffery LLP
Chartered Accountants	71Queen	Victoria Street
Statutory Auditors	London
	EC4V4BE

				Unrestricted	Endowment	2023	2022
				fund	fund	Total	Total
						funds	funds
			Notes			f	f
Income
Investment income			2	1,963,708		1,963,708	1,786,700
Total income				1,963,708		1,963,708	1,786,700
Expenditure
Charitable activities
Estate maintenance				996,570		996,570	888,897
Grant making				387,767		387,767	312,908
Total expenditure				1,384,337		1,384,337	1,201,805
Net (loss)/gain on	investments				(512,618)	(512,618)	706,660
Net income in the	year			579,371	(512,618)	66,753	1,291,555
rransfer between	funds		13	167,299)	(167,299)
Tax paid			22	(15,233)		(15,233)
Net gain on revaluation		ofproperty
Net movements in funds				731,437	(679,917)	51,520	1,291,555
Reconciliation offunds
Total funds brought forward			13	(399,019)	90,094,812	89,695,793	88,404,238
Total funds carried	forward		13	332,417	89,414,895	89,747,314	89,695,793

					2023		2022
			Notes		f.		E
Fixed assets
Land and buildings					85,679,736		84,991,366
Investments					4,972,780		5,485,396
Tangible assets					62,828		41,628
					90,715,344		90,518,390
Current assets
Stocks				2,848		12,394
Debtors				285,448		238,236
Cash at bank				253,990		4,680
				542,286		255,310
Current liabilities
Creditors: Amounts		falling due
within one year			10	(562,088)		(843,584)
Net current	(liabilities)/assets				(19,802)		(588,274)
Total assets	less current				90,695,542		89,930,116
liabilities
Creditors: Amounts		falling due
After more than one		year			(948,228)		(234,321)
Net assets					89,747,314		89,695,795
Represented	by:
Endowment	fund		13		89,414,897		90,094,814
Unrestricted	fund		13		332,417		(399,019)
Totalfunds					89,747,314		89,695,795

			Notes		2023		2022f
Fixed assets
Land and buildings					85,679,736		84,991,366
Investments					4,972,880		5,485,496
Tangible assets					62,828		41,628
					90,715,444		90,518,490
Current assets
Stocks				2,848		12,394
Debtors			9	300,217		228,039
Cash at bank				88,388		858
				391,453		241,291
Current liabilities
Creditors: Amounts		falling due
within one year			10	(543,796)		(961,914)
Net current	assets				(152,373)		(720,623)
Total assets	less current
liabilities					90,563,101		89,797,867
Creditors: Amounts		falling due
after more than one		year			(948,228)		(234,321)
Net assets					89,614,873		89,563,546
Represented	by:
Endowment	fund				89,414,897		90,094,814
Unrestricted	fund				199,976		(531,268)
Totalfunds					89,614,873		89,563,546

						2023	2022
						Total	Total
						Funds	funds
					Notes	f	g
Cash used in operating	activities				20	(1,537,985)	(973,590)
Cash flows from investing		activities
Interest, dividends and	rents from investments					1,963,708	1,786,700
Property improvements						(688,370)	(1,304,986)
Purchase offixed assets						(30,123)	(5,375)
Cash provided by investing		activities				1,245,215	476,339
Cash flows from financing		activities
Repayment of loan						(144,325)	(145,792)
New loan received						1,000,000
						855,675	(145,792)
(Decrease)/increase in	cash and cash equivalents			in the year		562,905	(643,043)
Cash and cash equivalents		at the beginning	ofthe	year		(308,915)	(334,128)
Cash and cash equivalents		at the end ofthe	year			253,990	(308,915)
(Decrease)/increase in	cash and cash equivalents			in the year	21	562,905	(643,043)

				2023	2022
				Group E	Group f
Estate income
Rent and other property			income	1,756,413	1,538,964
Income from woodlands				49,378	96,763
				1,805,791	1,635,727
Investment income
Dividends				148,872	146,591
Interest				3,145	25
Income from royalties				5,900	4,357
				157,917	150,973
Total investment	income			1,963,708	1,786,700
Estate maintenance
				2023	2022
				Group	Group
				E	E
Repairs				357,794	291,309
Insurance and other		property costs		68,345	414,880
Estate maintenance		costs		35,898	60,099
Woodlands costs				56,559	181,657
Net cost ofyard					14,753
Management charge				60,417	60,000
Support costs (Note		5)		417,558	139,199
				996,571	888,897

		2023	2022
		Group	Group
		E	E
Grants	to institutions	329,855	285,068
Grants	returned	(25,600)
		304,255	285,068
Support	costs (Note 5)	83,512	27,840
		387,767	312,908

ABCto Read			3,000
Autism Berkshire				7,000
Autistica				5,000
Alexander Devine Hospice			5,000
Berkshire Vision				5,000
Brendoncare			25,000	30,000
Brightwalton &Catmore	PCC		5,000
Cancer Research
Corn Exchange Newbury			5,000
Daisys Dream			3,000
Disabled Sailors Association				5,000
Enham Trust			5,000
Helen & Douglas House			5,000	5,000
Hypo Hounds			5,000
Independence at Home	(2donations)		10,000
IPSEA			5,000	5,000
Listening Books			1,500
Longcot Churchwardens	Account			5,000
Maggie Keswick Jencks Cancer		Caring Centres Trust	3,000
Newlife				5,000
Newbury Soup Kitchen			5,000
Parkinsons Disease			3,000
Priors Court Foundation			10,000
Prospect Hospice			5,000
Rainbow Trust				5,000
Recovery ln Mind (2 donations)			15,000	15,000
Response Organisation			5,000
Royal Agricultural Benevolent		Institution	5,000	5,000
Salisbury Cathedral			2,000
Sebastion's Action Trust				5,000
Smart Works Reading				5,000
St Barnabas Church, Peasmore				10,000

StJames Church Leckhampstead	StJames Church Leckhampstead	5,000
Sue Ryder			5,000
Support Through Court		5,000	5,000
Swings 8 Smiles (2 donations)		27,000	5,000
Thames Valley Air Ambulance		5,000	5,000
The St Gregory's Foundation	(2donations)	10,000
The Porch Limited			5,000
The Royal Marsden Cancer Charity			10,000
rime to Talk West Rerkshire		3,000
Treloar's		5,000	5,000
Ufton Court Education Trust		5,000	5,000
Willow Foundation		3,000
Yeldall Manor (2 donations)		15,000

Current year			Estate
			expenditure f	Donations f	Totalf
Office premises costs			36,063	7,213	43,276
Staff costs			100,544	20,109	120,653
Estate office	running	costs	227,918	45,584	273,502
Legal and financial costs			29,129	5,826	34,955
Governance	costs		23,903	4,781	28,684
			417,558	83,512	501,069

Comparative	year		Estate	Estate
			expenditure	f	Donationsf	Total f
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
Lega I and financial costs			82,896		16,579	99,475
Governance	costs		10,917		2,183	13,100
			139,200		27,839	167,039

Land and buildings	Land and buildings
		2023	2022
		Group and	Group and
		company	company
Freehold properties
At valuation
1April2021		84,991,366	83,686,380
Additions		688,370	1,304,986
Revaluation	in the year
31March 2023		85,679,736	84,991,366

Investments
				2023	2023	2022	2022
				Group f	Company f	Group f	Companyf
Market value
1April 2021				5,485,496	4,611,496	4,778,736	3,904,836
Additions
Disposals
Net (loss)/gain	on revaluation			(512,618)	361,384	706,660	706,660
31March 2023				4,972,780	4,972,880	5,485,396	4,611,496
Historical costat end of			year	2,508,389	2,508,489	2,508,389	2,508,489
COIF Charities	Investment		Fund	3,992,959	3,992,959	4,382,908	4,382,908
COIF Charities	Global Equity			706,524	706,524	785,995	785,995
Income Fund
COIF Charities	Property	Fund		273,144	273,144	316,342	316,342
CCLA Charity Deposit accounts				2	2
Investment in	subsidiary				100		100
Unquoted investments				151	151	151	151
				4,972,780	4,972,880	5,485,396	5,485,496

				2023	2022
				f	f
Reconciliation		of unrealised	gains and losses on investments
Unrealised	gains at beginning		ofyear	2,163,450	1,456,790
Net gain/(loss)		on revaluation		(512,618)	706,660
Unrealised	gains at end ofyear			1,650,832	2,163,450

			Group and Company
		Vehicles	Office	Total
		plant and	Equipment
		machineryf
Cost or valuation
1April 2022		210,826	6,654	217,480
Additions		29,170	953	30,123
Disposals		(93,427)		(93,427)
31March 2023		146,569	7,607	154,176
Depreciation
1April 2022		172,343	3,145	175,852
Charge for year		8,294	629	8,923
Disposals		(93,427)		(93,427)
31March 2023		87,210	3,774	90,984
Net book value
31March 2023		59,359	3,833	63,192
31March 2022		38,483	3,145	41,628
Debtors
	2023	2023	2022	2022
	Groupf	Company f	Group f	Companyf
Trade debtors	106,718	106,518	143,824	147,627

	Development costs	Development costs		118,963	118,963	57,974	57,974
	Amounts owed	by	EDL		19,474
	Prepayments and accrued			35,325	30,820	31,460	27,726
	income
	HM Revenue and Customs			8,352	8,352
	Sundry debtors			16,090	16,090	4,978	4,978
				285,448	300,217	238,236	228,039
10.	Creditors: amounts		falling due within one year
				2023	2023	2022	2022
				Groupf	Company f	Group f	Company f
	Bank loans (note 11)			289,395	289,395	147,627	147,627
	Bank overdraft					313,595	313,595
	Trade creditors			142,624	139,924	212,579	211,259
	Amounts owed	to EDL					137,067
	Rents received	in advance				14,764	12,064
	Tenant deposits	refundable		115,724	103,072	101,585	88,933
	Accruals			42,081	39,141	45,099	43,034
	HM Revenue &	Customs				312	312
	Sundry creditors			(27,736)	(27,736)	8,023	8,023
				562,088	543,796	843,584	961,914

		Group and Company	Group and Company
		2023	2022
		f	E
Bank loans payable	after more than one year	948,228	234,321
Expected repayments	are as follows:
		2023	2022
		f	f
Within 1-2 years		185,059	151,679
Within 2-5 years		499,744	82,642
After more than 5	years	263,425
		948,228	234,321
Within 1year		289,395	147,627
		1,237,623	381,948

Current year	Current year		Unrestricted	Endowment
			Fundf	Fund f	Total f
Total funds	brought forward		(399,019)	90,094,814	89,695,793
Income			1,963,708		1,963,708
Expenditure			(1,399,570)		(1,399,570)
(Loss)/Gain	on investments			(512,618)	(512,618)
Transfer between		funds	167,299	(167,299)

	Total funds carried forward	Total funds carried forward	Total funds carried forward	Total funds carried forward				332,417		89,414,897	89,747,314	89,747,314
	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
								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
14.	Analysis ofnet assets between				funds
	Current year						Unrestricted		Endowment
								Fund		Fund		Total
								f		f		f
	Land and buildings									85,679,736	85,679,736
	Investments									4,972,780		4,972,780
	Tangible fixed assets							62,828				62,828
	Current assets							542,286				542,286
	Current liabilities							(272,693)		(289,395)		(562,088)
	Long term liabilities									(948,228)		(948,228)
								332,421		89,414,893	89,747,314
	Comparative 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

year at a cost off120,	653.
		2023	2022
		f	f
Wages and salaries		101,595	109,395
Social security costs		6,704	5,740
Pension contributions	(Note 16)	12,354	11,021
		120,653	126,156

				2023	2022
				f	f
Net movement in funds				51,520	1,291,555
Add back depreciation				8,923	11,032
Less interest income, dividends		and rents from	investments	(1,963,708)	(1,786,700)
Losses/(gains) on investments				512,618	(706,660)
Decrease/(Increase)	in stock			9,542	(10,204)
(Increase)/Decrease	in debtors			(47,212)	16,988
(Decrease)/Increase	in creditors			(109,668)	523,992
				(1,537,985)	(659,997)
Analysis ofchanges	in net debt
		At 1April	Cash flows	Other non	At 31March
		2022 f		cash changesf	2023f
Cash		4,680	249,310		253,990
Overdraft		(313,595)	313,595
Cash and cash equivalents		(308,915)	562,905		253,990
Loans falling due within one		(147,627)	144,325	(286,093)	(289,395)
year
l.oans falling due after one		(234,321)	(1,000,000)	286,093	(948,228)
year
		(690,863)	(292,770)		(983,633)

		2023	2022
		E	E
Turnover		119,026	105,325
Property	Costs	(20,306)	(23,895)
		98,720	81,430
Overheads		(4,413)	(2,548)
Profit before tax		94,307	78,882
Taxation		(15,233)
Profit after tax		79,074	78,882
Share capital		100	100
Profit and	loss reserves	132,441	132,249
Capital and reserves		132,541	132,349

				Unrestricted	Endowment	2022
				fund	fund	Total
						funds
						f
Income
Investment income				1,786,700		1,786,700
Totalincome				1,786,700		1,786,700
Expenditure
Charitable activities
Estate maintenance				888,897		888,897
Grant making				312,908		312,908
Total expenditure				1,201,805		1,201,805
Net (loss)/ gain on	investments				706,660	706,660
Net income in the	year			584,895	706,660	1,291,555
Transfer between	funds			(1,450,776)	1,450,776
Net gain on revaluation			ofproperty
Net movements in funds				(865,881)	2,157,436	1,291,555
Reconciliation offunds
Total funds brought		forward		466,862	87,937,376	88,404,238
Total funds carried		forward		(399,019)	90,094,812	89,695,792