| Trustees | |
|---|---|
| SirWilliamB. Beaumont C.B.E | |
| T.G.R. Davies C.B.E. | |
| A.G.Hastings O.B.E. | |
| J. S. Spancer | |
| P.A.Orr | |
| Administrator | W.J.K.BrownC.A. |
| Principaloffice | Dunedin |
| 119CowleyFlill | |
| Borehamwood | |
| Hertfordshire | |
| WD6 5NA | |
| Bankers | VirginMoney |
| 1Westgate | |
| Shipley | |
| BDl83SD | |
| Auditors | Beavis MorganAuditLimited |
| 82StJohn Street | |
| London | |
| EClM4JN | |
| Charitynumber | 1102765 |
| Pages | 1-3 | Trustees' Annual Report |
|---|---|---|
| 4-6 | IndependentAuditors'Report | |
| 7 | StatementofFinancialActivities | |
| I | BalanceSheet | |
| 9 | StatementofCashFlows | |
| 10-13 | Notes totheAccounts |
| Notes | |||
|---|---|---|---|
| 2022 | 2021 | ||
| f | t, | ||
| INCOMEAND EXPENDITURE | |||
| Income | |||
| Incomefrominveslments | , | 81,914 | 80,850 |
| Donations received | 150 | ||
| Totalincome | 82,064 | 80,850 | |
| Expenditure: | |||
| Expenditureoncharitable activities | 3 | 18,760 | 30,000 |
| Govemance costs | 4 | 33,204 | 38,046 |
| Totalexpenditure | 51,964 | 68,046 | |
| Net incometrefore(loss)/ gains on investments | 30,l00 | 12,804 | |
| (Loss)/ gainon disposalofinvestments | 5 | (84,998) | 21,395 |
| (Loss)/ gainonrevaluation of investments | 5 | (511,254) | 478,479 |
| Netmovementinfunds | (572,152) | 512,678 | |
| Totalfundsbroughtforward | 4,266,967 | 3,754,283 | |
| Totalfundscarriedforward | f3,694,809 | f4,266,961 |
| ALANCESHEETAT31STDECEMBER'20Z | z | ||
|---|---|---|---|
| Notes | 2022 g |
2021 f, |
|
| Fixedassets | 5 | 3,435,888 | 4,054,852 |
| Investments | |||
| Currentassets Cashatbankandinhand |
271,921 | ?r{10q | |
| CreditorsduewithinoneYear | 6 | (13.000) | ( t3,000) |
| z5B,92l | 2r2,109 | ||
| Netcurrentassets | |||
| Totalassefilesscurrent liabilities | t3,694,809 | L 4,266,961 | |
| Income funds | |||
| Unrestrictedfunds: Generalfunds |
7 | 3,694,809 | 4,266,961 |
| f.3,694,809 | f.4,266,961 |
| 2022 | 2021, | |
|---|---|---|
| f | f, | |
| Cashflowfromoperations | ||
| Receipts | ||
| Donations received | 150 | |
| Totalreceipts | 150 | |
| Payments | ||
| Expenditureoncharitableactivities | 18,760 | 30,000 |
| Govemancecosts | 33,204 | 38,046 |
| Totalpayments | 51,964 | 68,046 |
| Netcashoutflow fromoperations | (s1,814) | (68,046) |
| Investing activities | ||
| Dividends received | 81,853 | 84,827 |
| Interestreceivedoncashdeposits | 6l | ^aL3 |
| Purchaseofinvestments | (730,313) | (362,965) |
| Proceedsfromdisposalofinvestments | 747,025 | 376,941 |
| Net cashflowfrominvesting activities | 98,626 | 94,826 |
| Increaseincashforyear | 46,812 | 26,780 |
| Cashbroughtforward | 225,109 | 198,329 |
| Cashcarriedforward | L271,921 | L225,109 |
| 2. | Incomefrominvestments | 2022 | 2021 |
|---|---|---|---|
| f. | f. | ||
| Dividendsand interestreceivablefrominvestments | 81.853 | 80,827 | |
| lnterestoncashdeposits | 61 | 23 | |
| f,81,914 | f,80,850 | ||
| 3. | Direct charitableexpenditure | 2022 f, |
2021 f |
| Grantspayatrle toinstitutionsin | |||
| furtheranceof theCharity'sobjectives | |||
| BillMclarenFoundation | 10,000 | ||
| Princess CharleneofMonaco Foundation | 8,764 | ||
| TheCool Play Trust | 10,000 | ||
| Charlotte Cardinals Rugby Club | 10,000 | ||
| VisionSportsIreland | 10,000 | ||
| f18,760 | f,30,000 | ||
| 4. | Governancecosts | 2022 | 2021 |
| g. | f, | ||
| Investmentmanagelnentcharges | 29,437 | 30,775 | |
| Auditfee | 3.r50 | 3,000 | |
| lnsurance | 619 | 614 | |
| Lossesi(gains)onforeignexchangerates | (le) | 3,521 | |
| Bankcharges | l7 | 736 | |
| 33,244 | 38,046 |
| 5. | Investments | f, |
|---|---|---|
| Market Valueat 1"Jantary,2022 | 4,054,852 | |
| Additionsat cost | 730,313 | |
| Disposalproceeds | (747,025) | |
| Losson disposal | (84,998) | |
| Loss onrevaluation | (5t7,254) | |
| Market valueat31'tDecember,2022 | f3,435,888 | |
| Cost at3l"tDecember,2A22 | f2,314,675 |
| The market valueofinvestmentsin individualentiti over5%oofporlfolioby valueare: |
es heldat3l'tDecemb | er.2022which | |
|---|---|---|---|
| 2022 gf |
2021 | ||
| AllianceTrust Plc | 255,960 | 4t0.736 | |
| ArtemisStrategicGlobalSelectJInc | 202,968 | 230,094 | |
| BankersInvestment Trust Plc | 227,700 | 338,250 | |
| Foreign&Colonial Investment TrustPlc | 235,040 | 306,043 | |
| Scottish American InvestmentCompanyPlc | 198,120 | 247,508 | |
| 6. | Creditorsduewithinoneyear | 2022 | 202t |
| !, | f, | ||
| Accruals | f13,000 | f,13,000 |
| tatementoffunds | ||
|---|---|---|
| General | Funds | |
| Unrestrictedfunds | 2022f | 2021 f |
| At1'tJanuary,2022 | 4,266,967 | 3,754,283 |
| Net movementinfunds | (.512,152) | 512,678 |
| At31'tDecenber,Z022 | {.3,694,809 | f.4,266,961 |
| Representedby: | 2022 | 2021 |
| f. | f, | |
| Investments | 3,435,888 | 4,454.852 |
| Netcurrentassets | 258,927 | 2t2,r09 |
| L3,694,809 | f.4,266,961 |