R••knknd Compary numb•r IM839768 Tho V•1• ol Glamorgan Agrloulturnl Soel•ty (A ¢ompany Ilmit•d ty guirant••) R•port and finanelal stst•m•ftts Y•ar •nd•d 311)•o*Trb•r 2023 Charity numb•r 1108960 Th• Val• of Glamoryan Agricultural Socl•ty Index to tho A¢¢ounts Year ended 31 Decthnbor 2023 Pag• Legal and Administrats've Infomiation Report of the Management Committee IndepeThaent Examiners. Report Slat8ment of Financial Activities 8alance Sheet Notes Fomiing Part of the Financial Statements 8-12 Th• Val• of Gl•moryn Agri¢ultyrnl Sool•ty R•port of the Manag•mont Commrtte• Y•ar Ended 31 I)•o•M￿ 2023 Adminlstraiiv• Infommtlon Ch4rlty and Company Nam• The Vale of Giamorgan Noricultur81 s￿ety Charlty R•glstr•tian Numb•r 1108 Company R•gl8tv*llon Numb•r 4839758 ft•okt•r•d Oln¢• •nd Opwaknl Addr•ss Ltys FfynrK)n P8nllyn Nr Cowbrfdge Vale of Gl8riNxg CF717RQ Manag•m•nt Commltt•• A G Thomas Chair J Hank8 sh￿ Director HJPrice Treasumr J Arnott A E Bank8 DEHath8 Lmpric C Thomas l ThonM8 Camyry 8•or•t*ry S Fenner Ind•p•rrt•nt Examln•r Wlliams Ross Limited, 4 Yny8 Brfdge Court y Gath, Cardiff. CF15 98S 84nk•rs HSBC, 61 Hyh Street. Ctr*￿e. South Glaw CF111YJ Inv•skn•nt Portfollo Fund Manag•rs NFU Mutual Sele& Invostrnonts Limited, fthington Road. strad￿d4JEX1n-Av0n, Warwickshlre. U437 7BJ Th• Vg1• of Glarmryn AgrIoul￿rnl 8ooi•ty ft•port of th• Manag•m•nt C¢>mmitt Y•*r Eftd•d 31 0¢￿Mb*r 2023 the charity for the year ènded 31 Oetsmber 2023 TA#)kh to Thot the requirem8nts for directors, repxirt and accounts for COryan￿ Act purpc*es. The flnancid ststements have been prepared in 8￿rdance t*th ts M)unting &M)h'des set ¢)ut in noies to Ihe accounts and compty writi the charrty's o)verning documnt the Companies Act 20(￿, the Charitl&s Act 2011 and Accounting and Reporting by Charrtth.. Financ￿1 Rewtng Standard applKable In the UK and Republk of Ireland (FRS 102). Stru¢tur•, Gov•rnanc• and Manag•m•nt Gov•rnlng Doaunwnt The 0wanisa￿on is a charllabf• company limlted by 9uarantse, KIUXFKYated on 21 J￿Y 2003 and weglstered as a charty on 11 April 2005. The ￿TrY was estabNshad und8r a Me￿randum of AG8Lriation which estsblished the objècts and powers of lh8 etharitsble company arwj is gover￿1 urrfler its ArlthB of Assod￿0n. In th6 event of the eompany belng wound up rrtsmtW8 8r6 required to conlribute an anx)unl r￿¢ exc68ding £1. R￿T￿11m•nt and AppoIn1n￿ of IA•nag•m•nt Commltt•• The dlrector8 of the company am also charity trustees for Ihe purpcws of clwrliy law and under tho company's ArtS¢les are knu*n as memb8r8 of the Mantyement Ccrfnrth. Under the r¢quir8rronts of thg M￿nOrendum and Artides of A¥8ociatkn, at annuaf general wlng, thlrd of thè TnJ8te88 who are subject to rellrement by rDl8tion or tho number nearest to one thtrd shau relire from offi￿. Vthere a trustee retire8 by rotatlon or she shall, rfwaling to art be deem•J to h8v8 been rHppolnted. Triist•• Induatlon and Tr•lnlno Any new trustees are onty apwlnted where thay are ra¢omm8rKl&l ty the existrng truste88 or whera a member qualmed to vote at the n￿tiftg gives notke to wowise that perwt for ap[M￿ntrnenL The tru8tee8 Inbnlvéd Ihe charfty are from varicmts professional t*ckgroun08 and 8averal ha￿ many yearn, exper16nce wllhin the field of agrujllure and ate 8xpÈcted to attend at least L%)8 of four rMe￿n95 held quartorty In additk)n to the annual GOWat rmetlng io dig(JJss tr* business ofthe d)arity. Iusk M•nag•m•nt The Managorront Commlttee has (Thducw a reviw of tt)& ￿￿JOr risks to whth the tharity 18 ext￿8&￿. A risk reg18ter has boèn establlsh8d and is upjated at least 8nnuaUy. Ilffiere appropriate, systams or proc•Jur6s have been establish•d to mitigate the rtsks th8 charity I￿e$. Swntfic¥nt extemal rtsks to fundlng hav8 lod to the davelcpn￿ts of a stratsglc pfan whith will allow for the diver511k4tron of fiJrKJlng and a¢tivities. Internal control rhk$ are minimrsed by Ihe Ivrplemgnlalion of Fyrthlures fDr authori88tion of am transaction8 and woJect& Prc￿edU￿ 8re in place to ensure ￿mpfianCe with health and safety of volunt88rs. visltors and liv8stLK* on show day and to ensure a consistent qualFty of d8lpffj for all OFwatM)nal asF*cts of tho ¢*arlty. Thes8 Proc￿ur¥S are pe￿Od￿allY revi￿d to en8ura that Ihey ccKrtinue to rr*et the needs of the tharity. PlaM for Futur• P•rlods The eharity plans crr￿ to in(¥Base expendlture on tsaffic Manallw￿t to avoid a repetttion of the probl8ms whth ¥K4Jld have catastrophic for tho futtrn ofthe *kYW. Wa havè instigated a revlvw Into c(* Oh￿d oftr* 2023 sh(Mf and all￿ded plans to brir& dtrwn expendlture in 2024. Inv•5trn•rt P The total rrthet value of Inves1￿nts urxler at 31 Decgn*w 2023 anwnw to £276,127 (2022 - £348,466) ¥Ath an original cost of £256.628. The charity is puTruiThJ a poI￿Y ￿ ￿p￿trI grtr*th. Investh)8nt perfmnce is regularty ￿VIeWed vrith the portfol managers and Inve¥trnent deLxsbns a￿ svbjts* to the rnan*3ery￿t c¢Jnrrittee's approval. Tho rnanageft￿t committee has examN)ed the tharity's rgjuirements kn resew in loht of th8 main risks to the charity. It has established a polw wthereby the unrestrKled fvnds not ￿mn￿tted or invested in tangille fixed assets hekl by the chanty should be beiween 3 and 6 rrA)nths of tho expenditure. The present18v81 of reserM avalabfe to Ihfr clw is £362.299 (2022 - £440.357) avalablo froe res8Thes of £361,49912022 - £438,940). Tr trustees belthe these teser¥e5 are rea¥4)nable as they are needed in part to me•t the wo￿ng caprtal requirerr*nts of the charity. A8 alrnady Mtod 8 reviow of F¥)tential future cos15 Current￿ being undertaken. There is also a need lo retsln sufficient reserves to fvrrtl tha wtontial wrchage of a p8rrnanent shtrw sita. The management ￿mMIttee (￿*￿) are also the directors of the Vale of Glamorgan Agrlculbjral Soclety the purposes of company lawl ara responsitA8 for Prepari￿ a trustees. annual feFQrt and financial statem&nts in aC￿rdance with appli￿ble law and Uniied Kirvjdcm Slandards (United Kingdom Generaly Accept8d Accotsnts'ng Practts). Company law requires the charity trust•es to prepare finanoal ststeThnts for ￿ financial year whith give a true and lair vlew of thg state of the affairs of the charita￿e (xyryany as at the balance shgel date and of Its inclirning resources and aptytstion of resc¥Jrc8s. includiThJ Inc0ft￿ and expenditure. for the financ4al year. In proparlng those financial statements, the truBte88 are requlred to.. ' select 8Uitable a(￿ounting polk*s and then appty thwn conw8tsnty.' obseTre tha methods and principles in ttle Charitses SORP.. make Judgement5 and estimates that are rea50nabbe and prndent., State whether appll¢able UK accountlrvJ departures dlsdosed and explalnlftg In tho finandal slatements" prepare financial statements on the gc¥ng o)nom ba81¥ unleBs ft18 inappropriate to presume Ihat the charitable company will conts'nue on thal b￿.5. The management commrttee are resFonsrble for keeping adequate a(%￿n￿.￿j perx￿ that are Bufficienl to sfr and 8xplain the company's transactions and disclose wrth reasonable acuJ[a￿ at any ts'me the financial posrtion of the company and that enable Ihem to ensure that the financial statwnents Mmpty wlth the Companlgs Act 2008. They ar• also responsible for saleguwding the assets of the ¢h8rilable company and fDr taktng roAsonable step8 for the prevenlion and d•tedion offi3￿] ar#1 other InBgularitle& The management ojmmittee are resp(MThble for the maintenan* integnty d the corporate armj financlal inform8b.on induded on the Charitable crxnpany's website. Legislatson n the Unrted ￿'ngdoM g¢)voming tho Pfeparalloft and dissemlnatlon ol financial stateVLents may dlffer Irom legikn h other Jurbdictk￿8. In a￿OrdanCe wtth company18w. as the ￿mP￿.3 dlfwA)r4 vffj c*rbfy that ' so tar as we are aware, Is no relevatt inftxrrwtkn of the crryany's Independent examlner8 ate unaware," and as the director5 of the company we have tsken all the steps we cmjght to have taken in order to make rsolves aware of any rd8¥anl Informatm￿ and to establish IMt the charity's Independent gxamin6rs are aware ofthat informatk>n. Approved by the trustees on 2 April 2024 *n8d on tts behdl by: HJPri Independent Examiners. Report to the Management Committee of The Vale of Glamorgan Agrleultural Socioty I report on th& accounts of the company for the year ended 31 D￿mber 2023. Raspgctive responslbllltles of the managefflent commttt•e and 8xaminer• The management committee {WI￿ are also directors of the company for the wrposes of company lawl are responsible for the preparation of the accounts. The management commlttee consider that an audit is not required for this year under Part 16 of the Companies Act 20C6 and that an independent examination is needed. Having satssfied myself thal the charty is not suty'ect to audil under company law and is eligible for independent examinath)n. rt is my resp)nsibilty to- examine the accounts under secbon 145 ol the Charibes Act 2011 ('The Acll,. to follow the procedures laid down in the general direcllons given by the Charity Commisslon under section 145151 Ibl of The Act, and to Slate whether part￿ular matters have come to our attenb'on. Basls of Independent examlners, report My examination was Carried out in a¢cordanc8 with th8 general directions gfven ty the Charity Commisslon. An examination Includes a review of the accounting records kept by the charty and a comparison of the accounts presented with those ￿cordS. It aL80 includes consideration of any unusual rtems or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The proceduros undertaken do not provide all the evidence that woukl be required in an audll and ¢onsequenUy no opinion 1$ given as lo whether the accounts present a'lrue and fair ViV4¥' and the report is limrted to those matters set out in the statement beljw. Ind•pondent frx•mlnern' stat•menl In connection with my examinab'on, no matertal matter has come to my attentlon.. which gives me reasonable cau88 to believ8 that in any material respect Ihe requirements.. to keep accounts'ng records in aCCordar￿ wrth section 386 of the Companie5 Act 20(￿., and lo prepare accounts which accord wllh the acuunllng records, comply with the accounting requir9ments of section 396 of the Companie$ Act 20(￿ and with the melhods and principles of the Charit￿$ Statement of Recommended Practice {FRS 102); have not been met., or 12) to whth, in my opinion, attent￿)n shoukl te drawn In order to anab￿ a proper understandin9 of the accounts to be reached. urton for and on behalf of Williams Ross Llmltod Chartored Accounlanl8 4 Ynys Bridge Court Gwaelod Y Garth Cardiff CF15 9SS Date The Vah ¢)f Gl•morgan Agrfeulthral S 8tat•m•nt d FlnanGi*l Actlvifj¢5 {[￿l￿dIng Incom• #nd Exp•ThlTriw• Account) Y•ar •nd•d 31 D•o•mb•r 2023 2023 2022 Inoom• Donations 19,951 16,227 Incomfj from Investments 3.928 3.7( Show irKorn8 1￿,842 134,879 Other Inco Government grnnts receNab T•tsl Inaom• Exp•ndltuv• Exp•nd1￿r• on rntslnq fvnd• Inve8tm8nt wtfollo management c*arges Exp•ndltur• on ¢hrk•bl• a•thiltl•s Show c08ts Bursaries 1.379 1.347 223,712 175,584 T•tsl •xp•ndliur• 178 931 N•t d•fioft ft4r th• y•4r b•for• galns l (loss•s) on Inv•slm•nts (95,170) {22,119} Nel galnsl (Irws) on inve8lm8nts 17.112 {47,4121 N•t d•fi¢ltfor th• y•ar r18,058) {69,531) R•oonolll4llon atfvnds Totsl fiJnd¥ brought forward 440.357 509,888 T•tsl fvnds ¢arrl•d kn 362 Tha statement of fina￿181 activltss all gains and bsses In the year. AII and exp8ndiiure derive from contin￿r￿j &tivlt All actfvliies rBlate to an unrestrkled fund. The V•1• rfGlamorgan AgrfaultsffAI 8oGtsty Balanee 8h••l 31 O•¢omb•r 2023 2022 Flx•d 4ss•ts Tangible asset8 Inveslmonts 12 13 1,417 276.127 276,927 347,883 Curr•nt ass•ts tyebtors Cash in bank and in haThJ 14 89.649 1S.963 85,812 47,073 48,818 93,889 Credltors.. amounts falling due withln one year 15 (240) {1.415) N•t •urMnt ass•ts 85.372 92,474 N•t aM•ts 440.357 Funds Unresmctwj fvnd8 16 382,299 440,357 T•tal funds 362,299 440,367 For the finanGig1 year ended 31 December 2023 tho ¢oftyany was gnilued to Oxèmpkn from a￿JIt under 88ctkn 477 of the CompenM Act 20C6 relaling to sm811 oYryante8. Dlredory respr￿bIlIti . The members have rK)I rw]uir*J the to oblaln an audit of Its finan(xal stat0ff￿ lor tho year in question In arJ))rdarKe wllh secton 476., . The dIreC￿S acknowledge thelr responsi￿15￿8$ for ￿>￿ty1ftg wilh wuirem8nts of the Act wlth rvspect to a¢cc¥Jnting recJ)rds and th8 preparatAx of financlal state￿nts. The80 financial statern8nts are prep8r&J In acuxdance wilh applicatAe to wryanles Subject to the small companies regin￿ wlthin Part 15 of the Companbs and ￿nstItUte the annual aecounts requlred by the Companies Ad 2006 and are for drculation to members of the (xmpany. A G Thomis ac rL.-. HJPrk• Dlrector Dlrector COIIPANY M41MBEIL. 04W710 Th• Vah of G1*n￿gaTh Allneul￿Ta1 So¢l•ty H(rt￿ lorniinq part Ol th• FIMneW Stat•monts Y•ar •nd•d 31 D•e•mb•r 2023 1. Aomuntlng Poll a) Establlshmtnt The Vale of Glanwan PorKultural Sodety 18 a dwilabla CA)Th¥)any, d￿rity number 1108980. It was ineorporaled on 21 Juty 2003 aNJ register&1 as a charity on 11 Awll 21)05. The registwed Off￿ of the charity18 Llys Ffynnon, Penltyn, Colknndge. Vale of GlaTrK>tyan. CF717RQ. b) Baslx of Pr•paratlon The financial statements have b8en propar&Y In &wdanc* ￿ ACc￿nting and ReFQrting by Chathes.. Statement of RecOMrr￿d&J Prth applicabla to charthes preparing thelr accL¥Jnts in a￿rdance with the Flnancial Reportlno StandaTd appkabte in the UK and Republ￿ of Irekqnd (FRS 1021 (effeclive l January 2015) - Charities SORP IFRS 10211. the Financial R8wlng StandarLI w*kgble in the UK Ropubllc of Ireland IFRS 1021 and the Corry)anlos Act 20(￿. The Vale of G￿Tr￿an AprtcUl￿ral Soc* Thets th8 d811nltlon of a publlc benefft enlty undgr FRS 102. Asset8 and Ilabilibes are inibalty rncognlsed at historical o)st or tr8nsa¢lon value apart from InveStn￿ts wthich afe 8tated at market value. The fln8ncial statements are prepwed In sterfing. whkh Is th8 of th8 charftable ￿)ryany. Monetwy amounts In the8• Ilnandal Statfjn￿ts are rounded to nearest L n pr8pariryJ the a¢￿Unt9. the trustees hav8 Consi￿ whother In apptying the ac£ounllng polkie3 requ1￿1 by FRS102 and Charibos SORP FRS102 the restaten￿l ol ￿n￿rthe iteAn8 wa8 required. 140 re8tatement8 were required. d) Fund iooountlng Unrestricted fvnds arn avdlat40 for use at ts d18cnllon of the trwieos in furtherance of Ihe g￿ra1 obj￿￿v•S olthe chartty. In accordance with the Charities SORP IFRS 102), the gen&r81 volunteer tim8 Provi￿ to the charty Is not recognl*J and refer io the trustees. re￿ for Infonnation alM)Ut their contrlbullon. fj InooM• All 1r￿0M1n9 resources are indutsj in ts Statom￿l of IbwK#al adivibgs when tho chadty ij enllU&J to the Income the amount b8 appli8d Twlth reosonabfe a(xyJw. JI Inves1rn8nt IrK4Jme is trKlwJed In iho 8tateThnt of Flnandal g) Exp•ndllur• and Irr••ov•rabl• VAT Expanditijre Is Includ￿1 in the aCC￿nts an ￿u816 basis. EX￿llUre indudes any VAT whk* cannot be Exp8nditure on raising furHls inthdes all expensts in￿rr￿ with the Investr￿ pOrtft)l￿. Expenditure on ctsritatde comptses thos8 a)sts In￿rr￿d by the c*arity in the delivery of ils athities and seNces for its ben8kn[￿. It irKludes both costs that (xn be allocated direct￿ to such a¢￿v￿￿e$ and those Gosts of an indirect nature to SUPFX)rt them. Th• Val• of Glamorgan Agrf¢u￿rn1 Sool•ty 14ot•s fornilng part of th• Flnanclal Statsm•nts Y•ar •nd•d 31 D•o•mb•r 2023 1. Aaoounlky PollBI•s h) Tanqlbh fix•d ass•ts Oepreciation on tanglble assets ig cakulated 80 as to ￿lte off the co8t of an asw less Its •stimated r88idual value. over the ￿fiJI wx)nombc lite ofthat asset as follow&. Offlce Equlpment 7 yearn Computer Equipmant 3 yg8 Indlvtdual flxed assets costkng £500 or rnoro c¥pitdtsed at ctyt 1> Flx•d as5•t Inv•stmw Investn￿ts are a forn of basic flnandal Instrun*nt aThJ are Initlalty re¢ogn18thd at their transaction value and subsequently mèasur￿1 at their fair va￿6 as at ts balarKe sheet date U￿ng the Gh)sing qu¢)ted ￿Arket prtce. The statement ol financ181 ac￿ltieS includes the not gains and IosGO8 arlsing ￿ revaluation and dtsposals thmugh(Krt the year. Invesln*nt gains and losses. wh¢thor realised or unrealised. ar8 comblr*d and shown in the heading 'GaI￿ {Ioss85) on inv8StM￿, in thg Statement of Acliv¢lS08. Th8 maln ft)mi of flnanclal risk faced ty charity is Ihat of volatiFty In equlty markots and investment markets dua to ￿der economlc ￿nd1￿5, the attit￿18 of in¥8stor¥ to Investswit r16l and d￿ngeS in sentlment concamiw equllies and withln Fwucular 8ecknr8 or su￿9(10rn. l) Alloo•tlon of sUp￿rt Supp)rt cx)st8 arg thorye function8 Ihal as8iSt Ihe *x)rk of c*arlty tyjt do not dlr• undertake charltsble activities. Support costs ¢)ts u>sts. rrf1w￿, per￿nn8• and ￿)vem￿Ce costs whlch 8UPPOrt the ac*'vities of Ihe d￿rtty. fAsh and o•sh •qulv•l•Thls Cash is reprosented ty cash in hand and dep(*lb wlth 1lnwK￿I In3titutk)n8 r8payaL40 wlthout ponfilty on notlce of not more than twenty I￿r hours. Cash equlvaknts ￿e hiohty Ilquid inv0str￿ntS that maluro in no than threè months from the dato ol acqulslllon and that are tBadty ￿￿VertIbl? to kntrwn rnnts of ¢a8h wlth inslgnif¢cant rlsk of change and value. l) D•btor4 Tr&le and other debttY8 en Tecogn18ed at thfr ￿tIle￿ arnwnt due after 8Try trade d18(a)unt offered. Prepayments ar8 valued at amount prop&kl net of any trade d19tA)unts d￿. ml Cr•dlt•rn CTedlt(Ys and prOVi￿on8 8fe recognwd clwrfty has a &ye￿t Obli￿￿￿ re8ultlng frum a pa8t event that will probably ￿sUIt in the transfer ol funds to a thlrd party ond the amunt due to sottle the Obligat￿ bg measur*J or eslmted reliabty. Cr&litors and provision8 arn nornalpy rKa)gniwJ at th£ir Sottlement anv)unl after all(Mlng tr any trade disc￿nts duo. n) U4• rf aM•untlnq •sllm•tss and •Mas ol Judgwn•nt The Pre￿ratIon of fin8nckg1 ststery￿nts requires lh8 use of txrtan wjunting 08tTrmate8. It also rw4uire8 the Diroctors to exercase judgement In apth'ng the cr8dit union's accountirvJ polws. The areas TW4uinng 8 higher degree of Judge￿￿n( or wmplexity. 8nd areas where assunykns or eslirnfttes are signifirAnt to the flnancial slatements ar8 disckned beltr￿. •) Viluatlon of Inv•8tm•nts The trustees exercise judgemnt in the vatuation of the quobj invas1rr￿ts and $8uJrities hekl by the charfty. The valualion applied 8re derived from th8 investfftht fund rewb indKat9 the mTket value of thg tnvestrnents and s8(#Jrilles at a given date. Th• Vats of Glamorqan Agricultswal Soel•ty Notss fgrnilnq pArt of th• Fln•nÉl*l Stat•m•nts Y•ar •nd•d 31 D•o•mb•r X123 2023 Donatlons And grlftts Subscrlptions and donalions RWAS grant 19,951 14,177 2,050 16 227 19.9 2022 Drwidend In(a)me 3,928 3.928 3.7( 37C 2023 2022 Inoam• Show enty fe08 Show space- stsnd fees Cat81oguès- sponsornhlp Gale and car p8rklng r￿lPt3 9,8S7 30,492 11,684 47,599 7.230 1(B842 8,083 41,011 15,455 67,110 3,220 134 879 Analysls ol •xp•ndttyr• on thafttAbl• aotlvlll•8 8hw oosts New Show stle sel-up ￿sts Legal & profess￿81 costs Showground rerrt Preparation costs equipn￿t hlro Traff￿ management PrSzes Calerfng and entert8Snlng Judges. fees and expens88 Section offk4al expen5e8 Stewards Pnnting and stationery Advorti8ing Insurance Donations Sundry 8xpon8e8 Equipment depr￿￿On Support costs Ise8 noto 6) Govemance co& (see note 7) 2023 2022 20.931 12,683 11,750 90.298 8,437 5,088 7,850 1,057 12,67S 103,191 29,237 12.242 7.974 529 4,951 4.347 2,119 1,455 700 2,370 4,171 67B 1,471 1,180 617 21.412 1.332 223,712 615 19,336 1,778 175.584 Analysls d gtsv•rn￿ Qosts 2022 Postage, telephone arKI sundri68 Indemnlty inwTance dlrectors and 011￿x3 Bank charges 19.1g1 1,172 536 513 18,988 1.305 516 547 10 The Val• of GI*m￿gan Agrf¢u1￿rn1 Soot•ty N¢th forniing part of th• finanolal sf•t•m•nts Y•*r •nd•d 31 D•o•mb•r 20tJ Anatysls of support eoBts Affiliation fg8s IIwK8s Professlonal and I￿nSU￿ncY fees 1.092 240 1.538 240 N•t In¢om• for th• y•ar 2023 Thls Is stated after charylng: Depr￿atiOn Independent examlnels remuneration 617 615 8taff ¢osts and numb•n5 Therg no 8t8ff costs durfng th8 ye8r {2022- nil). Secretsrlal were provhjod on a 88114mploy•J basls. 10. Trus1•• r•mun•rnllon Ind r•l*t•d paty tr•ns• No members of the management comtYth88 recfjlved any r8munwatx￿ durlng the pedod (2022 . NIII. No Iravel fX)sts were rdmbursed lo any membern of n*nage￿t Calm￿ee 88 no￿ were IncUrr￿lI2022. No trustee or 0th6r per80n relat￿ to the chrity hwj any PBf80MI Interest in any tran8a¢tlon 8nter8d Into by the tharrty during the period12022 - NII). 11. Taxatlon The ¢hanty18 exempt from tax C￿ Inrm and galns fall￿g within 8edlon 505 of the Taxes Act 1988 or section 252 of the Taxatlon of Ch8rgeeble Gains 1992 to the exterrt that these are appli&J to It8 tharitable obj￿18. Plxtur•s, Pllnt & Flttlngs & PA*ehln•ry Equlpm•nt 11 T•nqlbl• fix•d ass•ts T***1 Cgsvvaluallon At 1 January 2023 A on irh*strn8nts CarryiThJ valw at 31 (market value) 491,518 2.380 (100.000) {47,412} 346,486 2,549 (90,000) 17.112 276.127 All inv8strnents are carried al thelr fair value. Investments in wuTrlJ88 and r￿d Interest s￿ri￿.88 are all tradod in quoted public markets, wlmerlty the St(Kk Exdww. Liquidity risk is antiLxpat&l to t* as all assets are tr&led on tha open mathet The tharity's investrngnts are mainty trad&J In markets with gc*yJ liqu#lity and hlgh tr￿11￿ volumes. The charity has no matedal investmont holdlno6 In markets Sub￿1 to exchange (x)ntrols or tradlng restiictkni8. Tha maln rl8k for the fln8nci81 instruM￿ts held by tha charity is the ¥t)latllty of inv8¥tments. Th8 tharfty manages th18 n8k ty rgtsining expert advlsors and 0[￿&￿.￿g an investrnent polty that provkles ft)r a hlgh degree of diversification ol holdings withln Invest￿￿1 asset cla8963 that are quobj on recognised sto¢k exchanges. The chwlty do8$ not make use of derivatives and ￿mIlar com*x flnandal Instruments as it tskes the vw that Invastrwts we held for their tOTm yleld total r8tum and hlstork studi05 of quotod n8rKlal InStru￿nts have 81w that volatilty In ￿ pArUcul&r 5 year pwiod VAII noTr1￿1￿ cOrr￿￿j. 1& D•btor• 2022 Prepaymgnts arKI a¢x￿od In(x) 89.849 89,649 47,073 47,073 15. Cr•dltorn: Amounts fllllno du• vAthln IX￿ y•ar 2022 1,415 1,415 240 16. Mov•m•nts In fvnds At31 & D•eemb•r 2023 J•nuary 2023 Exp•ndllur• Unr•slrlot•d fvnd5: General fvnds 440,357 130,721 (225,891) 17,112 362.299 Total unrestricw funds 440.357 130,721 (225,8911 17,112 362.299 12