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|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|





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|Pages|1-3|Trustees' Annual Report|
|---|---|---|
||4-6|IndependentAuditors'Report|
||7|StatementofFinancialActivities|
||I|BalanceSheet|
||9|StatementofCashFlows|
||10-13|Notes totheAccounts|





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||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|





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|ALANCESHEETAT31STDECEMBER'20Z|z|||
|---|---|---|---|
||Notes|2022<br>g|2021<br>f,|
|Fixedassets|5|3,435,888|4,054,852|
|Investments||||
|Currentassets<br>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:<br>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|





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|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<br>f,|2021<br>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<br>over5%oofporlfolioby valueare:|es heldat3l'tDecemb|er.2022which|
|---|---|---|---|
|||2022<br>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|





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|tatementoffunds|||
|---|---|---|
||General|Funds|
|Unrestrictedfunds|2022f|2021<br>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|



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