## 

|||Page|
|---|---|---|
|General information|||
|Directors' report|||
|Independent<br>auditors'|report||
|Group statement offinancial activities||12|
|Group balance sheet||13|
|Company<br>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<br>EC4V 4ET||||
|Auditors|||||Saffery LLP||||
||||||71Queen Victoria|Street|||
||||||London||||
||||||EC4V 4BE||||
|Bankers|||||National Westminster||Bank PLC||
||||||30Market Place||||
||||||Newbury||||
||||||Berkshire RG14 SAG||||





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|Cara Turtington<br>(Senior Statutory|Auditor)||.......2023|
|---|---|---|---|
|For and on behalf ofSaffery LLP||||
|Chartered<br>Accountants||71Queen|Victoria Street|
|Statutory<br>Auditors||London||
|||EC4V4BE||





## 

|||||Unrestricted|Endowment|2023|2022|
|---|---|---|---|---|---|---|---|
|||||fund|fund|Total|Total|
|||||||funds|funds|
||||Notes|||f|f|
|Income||||||||
|Investment<br>income|||2|1,963,708||1,963,708|1,786,700|
|Total income||||1,963,708||1,963,708|1,786,700|
|Expenditure||||||||
|Charitable<br>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<br>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<br>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<br>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<br>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<br>and|rents from investments|||||1,963,708|1,786,700|
|Property<br>improvements||||||(688,370)|(1,304,986)|
|Purchase offixed assets||||||(30,123)|(5,375)|
|Cash provided<br>by investing||activities||||1,245,215|476,339|
|Cash flows from financing||activities||||||
|Repayment<br>of loan||||||(144,325)|(145,792)|
|New loan received||||||1,000,000||
|||||||855,675|(145,792)|
|(Decrease)/increase<br>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<br>in|cash and cash equivalents|||in the year|21|562,905|(643,043)|





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|||||2023|2022|
|---|---|---|---|---|---|
|||||Group<br>E|Group<br>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<br>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<br>and other||property costs||68,345|414,880|
|Estate maintenance||costs||35,898|60,099|
|Woodlands<br>costs||||56,559|181,657|
|Net cost ofyard|||||14,753|
|Management<br>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<br>Berkshire||||7,000|
|Autistica||||5,000|
|Alexander<br>Devine Hospice|||5,000||
|Berkshire Vision||||5,000|
|Brendoncare|||25,000|30,000|
|Brightwalton<br>&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<br>House|||5,000|5,000|
|Hypo Hounds|||5,000||
|Independence<br>at Home|(2donations)||10,000||
|IPSEA|||5,000|5,000|
|Listening<br>Books|||1,500||
|Longcot Churchwardens|Account|||5,000|
|Maggie Keswick Jencks Cancer||Caring Centres Trust|3,000||
|Newlife||||5,000|
|Newbury<br>Soup Kitchen|||5,000||
|Parkinsons<br>Disease|||3,000||
|Priors Court Foundation|||10,000||
|Prospect Hospice|||5,000||
|Rainbow Trust||||5,000|
|Recovery<br>ln Mind (2 donations)|||15,000|15,000|
|Response Organisation|||5,000||
|Royal Agricultural<br>Benevolent||Institution|5,000|5,000|
|Salisbury<br>Cathedral|||2,000||
|Sebastion's<br>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<br>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<br>Foundation|(2donations)|10,000||
|The Porch Limited|||5,000|
|The Royal Marsden<br>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<br>f|Donations<br>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<br>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<br>I and financial costs|||82,896||16,579|99,475|
|Governance|costs||10,917||2,183|13,100|
||||139,200||27,839|167,039|





## 

|6.|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<br>f|Company<br>f|Group<br>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<br>in|subsidiary||||100||100|
|Unquoted<br>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<br>f|Group<br>f|Companyf|
|Trade debtors|106,718|106,518|143,824|147,627|





## 

||Development<br>costs|Development<br>costs||118,963|118,963|57,974|57,974|
|---|---|---|---|---|---|---|---|
||Amounts<br>owed|by|EDL||19,474|||
||Prepayments<br>and accrued|||35,325|30,820|31,460|27,726|
||income|||||||
||HM Revenue<br>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<br>f|Group<br>f|Company<br>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<br>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<br>&|Customs||||312|312|
||Sundry creditors|||(27,736)|(27,736)|8,023|8,023|
|||||562,088|543,796|843,584|961,914|





## 

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## 

|||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<br>f|Total<br>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<br>transfer<br>from||the|unrestricted||fund|to the|endowment|fund|represents|the|costs of|
||maintenance<br>which||have|been|capitalised,||net of repayments||on bank<br>loans attached|||to the|
||properties.||||||||||||
||Comparative<br>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<br>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<br>liabilities|||||||(272,693)||(289,395)||(562,088)|
||Long term liabilities|||||||||(948,228)||(948,228)|
|||||||||332,421||89,414,893|89,747,314||
||Comparative<br>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<br>liabilities|||||||(695,957)||(147,629)||(843,586)|
||Long term liabilities|||||||||(234,321)||(234,321)|
|||||||||(399,019)||90,094,812|89,695,793||





## 

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## 

## 

|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|



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|||||2023|2022|
|---|---|---|---|---|---|
|||||f|f|
|Net movement<br>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)<br>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<br>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<br>income||||1,786,700||1,786,700|
|Totalincome||||1,786,700||1,786,700|
|Expenditure|||||||
|Charitable<br>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<br>in funds||||(865,881)|2,157,436|1,291,555|
|Reconciliation<br>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|