2022-09-30-accounts

			Page
Reference and administrative details ofthe charity, its trustees and advisers
Trustees' report			2-3
Independent examiner's report			4-5
Statement offinancial activities incorporating	income and expenditure	account
Balance sheet
Cash flow statement
Notes tothe financial statements			9-14

forthe year ended 3	0Sep	tember 20	22
						Unrestricted	Unrestricted
						funds	funds
						2022	2021
					Note	R
Income from:
Donations						2,880
Charitable activities:
Imray royalties						38,082	26,922
Bloomsbury royalties						4,882	3,981
Investments						14,815	15,615
Direct sales and other	income					878	1 072
Total income						61537	47590
Expenditure on:
Raising funds:
Investment management		fees				4,009	4,065
Charitable activities:
Project costs					2	31,950	14,601
Authors' supplement	payment					1,400	2,100
Support and governance		costs			3	31803	23863
Total expenditure						60 162	44629
Net (loss)/income before		investment	gains			(7,625)	2,961
Realised gains on disposal Unrealised (loss)/gains on		ofinvestments revaluation ofinvestments				1,497 ~66740	43 537
Net movement offunds after investment				gains		(61,868)	46,498
Reconciliation offunds:
Total funds brought forward Total funds carried forward						~6012 4 554 726 ~6~%~~4.

		2022	2021
Net movement offunds as reported	in the Statement
ofFinancial Activities		(61,868)	46,498
Adjustments for:
Realised gains on investments		(1,497)
Unrealised loss/(gains) on investments		55,740	(43,537)
Decrease/(increase) in debtors and prepayments			960
Increase/(decrease) in creditors		66	112
Net cash (used)/generated in operating
activities		(7,559)	4,033
Cashflows from investing activities:
Investment management fees		4,103	3,961
Cash (used)/generated during the period		3,456	7,994
Cash at 1 October 2021		34,598	26,604
Cash at 30September 2022		31,142	34,598
(Decrease)/increase in cash during	the period	3,456	7,994

Project costs
						2022	2021
Norway						5,333
Baltic						4,000
Pacific Crossing	Guide					3,334
Atlantic France						2,701
Germany & Denmark						2,701
Balearic Islands						2,667
Channel Islands, Cherbourg			Peninsula	8 North	Brittany	2,666
North Africa						2,666
Atlantic Spain 8 Portugal						2,334
South Biscay						2,000
Natural Navigation						1,000
Atlantic Islands						417	6,334
Imray Explore							5,000
Mediterranean	Spain						2,424
Southern California		Channel	Islands				500
Other						131	343
Total project costs						31,950	14,601

Support and governance	costs
		Unrestricted	Unrestricted
		funds	funds
		2022	2021f
Salary costs		15,000	15,000
Pension costs		502	450
Travel and subsistence		3,645	675
ONce expenses		3,834	1,841
Marketing costs		2,667	1,938
ITcosts		605	2,369
Conference		3,960
Governance —independent	examiner fees	1,590	1,590
		31,803	23,863

Staffcosts Staff costs were as follows:
			2022f	2021 F
Salaries and pensions
			2022	2021
The number ofpersons employed	by the Foundation	during the year.

Fixed asset investments
				Listed	Cash
				securities	deposits	Total
					K
Market value
At 1 October 2021				549,313	25,000	574,313
Investment management	fees paid			(4,103)		(4,103)
Additions					10,000	10,000
Disposals				(10,000)		(10,000)
Realised gains				1,497		1,487
Unrealised losses
At 30September 2022
The historical cost ofthe	investment	securities	was f447,586
No transfers were made	during the	year.
Investments at market	value comprise:
			UK	Overseas	2022
Listed investments			203,930	277,037	480,967
Cash deposits			35000		35000
Total market value
				Listed	Cash
Prior year				securities	deposits	Total
						K
Market value
At 1 October 2020				509,737	25,000	534,737
Investment management	fees paid			(3,961)		(3,961)
Realised and unrealised	gains			43537		43537
At 30September 2021
The historical cost ofthe	investment	securities	was f456,089
No transfers were made	during the	year.
Investments at market	value comprise:
			UK	Overseas	2021
Listed investments			202,696	346,617	548,313
Cash deposits			25000		25000
Total market value

Creditors: Amounts falling due within one year
	2022	2021f
Other taxation and social security	587	257
Other creditors	3,976	3,493
Accruals	3,464	2,739
Deferred income	686	2 158

Stateme	nt o	ffunds —Cur	rent year
			Brought	Income	Expenditure	Net	Carried
			forward			losses	forward
						K	K
Unrestricted		funds
General	funds		601,224	61,537	(69,162)	(54,243)	539,356
			601,224	61,537	69162	54,243	539,356
Summary	offunds
			Brought			Net	Gamed
			Forward K	Income	Expenditure	losses	Forwardf
General funds

2021	2021
f.

Financial	assets measured	at amortised cost
Financial	liabilities measured	at amortised cost
Financial	assets measured	at amortised cost comprise prepayments.