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||_Page_|
|---|---|
|REFERENCE AND ADMINISTRATION INFORMATION|1|
|TRUSTEES' REPORT|2-5|
|TRUSTEES' RESPONSIBILITIES STATEMENT|6|
|INDEPENDENT EXAMINER'S REPORT|7|
|STATEMENT OF FINANCIALACTIVITIES|8|
|BALANCE SHEET|9|
|STATEMENT OF CASH FLOWS|10|
|NOTES TO THE FINANCIAL STATEMENTS|11-20|





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|Trustees||Mr Louis M Bacon|
|---|---|---|
|||Mr Lawrence M Noe|
|||Mr Patrick G Sweeney|
|Secretary||Temple Secretarial Limited|
|||16 Old Bailey|
|||London|
|||EC4M 7EG|
|Bankers||Barclays Private Clients International Ltd|
|||PO Box 8|
|||13 Library Place|
|||St Helier|
|||Jersey|
|||JE4 8NE|
|Solicitors||Withers LLP|
|||16 Old Bailey|
|||London|
|||EC4M 7EG|
|Independent|Examiner|Ernst & Young LLP|
|||25 Churchill Place|
|||Canary Wharf|
|||London|
|||E14 SEY|





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|||_2023_|_2022_|
|---|---|---|---|
||_Note_|£|£|
|**_Incoming from:_**||||
|Donations|4|82,931|9,613,130|
|Interest||23,411|493|
|**_Total_**||106,342|9,613,623|
|**_Expenditure on:_**||||
|Charitable activities|5|(3,812,210)|(6,174,963)|
|**_Total_**||(3,812,210)|(6,174,963)|
|**_Reconciliation offunds:_**||||
|Net movement in funds||(3,705,868)|3,438,660|
|Total funds brought forward||3,446,200|7,540|
|**_Totalfunds carriedforward_**||(259,668)|3,446,200|






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|||_2023_|_2022_|
|---|---|---|---|
||_Note_|£|£|
|**_Current assets_**||||
|Cash at bank and in hand||61,159|3,893,005|
|Prepaid expenses||540|o|
|**_Total current assets_**||61,699|3,893,005|
|**_Liabilities_**||||
|Creditors: amounts falling due within one year|8|(132,473)|(156,280)|
|**Net current assets/{liabilities)**||(70,774)|3,736,725|
|Creditors: amounts falling due after more than one year|9|(188,894)|(290,525)|
|**Net assets/(liabilities)**||(259,668)|3,446,200|
|**_The Funds ofthe Charity_**||||
|Share capital|10|1|1|
|Unrestricted funds|11|(259,669)|3,446,199|
|**_Total charityfunds_**||(259,668)|3,446,200|








||_2023_|_2022_|
|---|---|---|
||£|£|
|**_Cash flowsfrom operating activities_**|||
|Cash from donations|82,931|9,613,130|
|Cash from interest|23,411|493|
|Cash spent on charitable activities|(3,938,188)|(5,739,918)|
|Net cash from operating activities|(3,831,846)|3,873,705|
|**_Change in cash and cash equivalents during the year_**|(3,831,846)|3,873,705|
|**_Cash and cash equivalents at the beginning of the year:_**|3,893,005|19,300|
|**_Cash and cash equivalents at the end of the year:_**|61,159|3,893,005|





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|**Charitable Activities**|||||
|---|---|---|---|---|
|**Charitable activities**|**Grants to institutions**|**Activities**|**Governance**|**2023**|
|||**undertaken**|**costs**|**Total**|
|||**directly**|£|£|
|||£|||
|Support restoration of Kafue|African Parks UK|834,223|(65,256)|768,967|
|National Park in Zambia|||||
|Promote restoration and|Atlantic Salmon Trust|5,000|(391)|4,609|
|conservation ofsustainable|||||
|stocks ofwild Atlantic salmon|||||
|and seatrout|||||
|Support effortsfor policy and|Bahamas National|187,562|(14,672)|172,890|
|protected area management in|Trust Fund||||
|the Bahamas, and support|||||
|installing signage and|||||
|completing system-wide GPS|||||
|map updating atAndros West|||||
|Side National Park|||||
|Donor advisedfund|The Bessemer|1,320,969|(103,331)|1,217,638|
||National Gift Fund||||
|Support ofmangrove restoration|Bonefish & Tarpon|64,609|(5,054)|59,555|
|efforts and a long-term|||||
|mangrove protection campaign|||||
|Benefit of Hughes Hall,|Cambridge in America|216,711|(16,952)|199,759|
|University ofCambridge|||||
|Increasethe amount offinancial|Environmental|2,500|(196)|2,304|
|supportfor environmental|Funders Network||||
|causes|||||
|Support research and policy|Game & Wildlife|897,578|(70,212)|827,366|
|programme inthe Uplands|Conservation Trust||||
|Provide early years, pre-school|Heriot Country Kids|20,000|(1,564)|18,436|
|and out of school careforthe|||||
|children inthe Heriot and|||||
|surrounding communities|||||
|Help coverthe substantial|Holyport Community|15,000|(1,173)|13,827|
|increase in energy billsthatthe|Trust||||
|village hall is nowfaced with|||||





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||**at 1 April 2023**|||||
|---|---|---|---|---|---|
|**5.**|**Charitable Activities (continued)**|||||
||Supportjaguar and mammal|Panama Wildlife|39,000|(3,051)|35,949|
||monitoring at Cerro National|Conservation||||
||Park|||||
||Research andtreat Stony Coral|Perry Institutefor|205,861|(16,103)|189,758|
||Tissue Loss Disease inthe|Marine Science||||
||Bahamas, and support effortsto|||||
||restore mangroves and reform|||||
||marine permitting inthe|||||
||Bahamas|||||
||In supportofcommunications|Rockefeller|91,494|(7,157)|84,337|
||related tothe Oceans 5 Our|Philanthropy Advisors||||
||Oceans Conference|||||
||Support effortsto open a state-|Superhumans Ukraine|166,845|(13,051)|153,794|
||of-the-warvictim rehabilitation|||||
||centerfor adults and children|||||
||that offers prosthetics and post-|||||
||prosthetics rehabilitiation,|||||
||reconstructive surgeries, and|||||
||psychological support|||||
||Supportthe Leuser Ecosystem|The Ecology Trust|60,000|(4,693)|55,307|
||Action Fund|||||
||Supportthe Oak Cancer Centre|The Royal Marsden|10,000|(782)|9,218|
||in Sutton|Cancer Charity||||
||Adjustmentfor presentvalue of|Eton College|(1,631)|127|(1,504)|
||commitment|||||
||**Total expenditure**||**4,135,721**|**(323,511)**|**3,812,210**|





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|**Charitable Activities (continued)**|||||
|---|---|---|---|---|
|**Charitable activities**|**Grants to institutions**|**Activities**|**Governance**|**2022**|
|||**undertaken**|**costs**|**Total**|
|||**directly**|£|£|
|||£|||
|Assistvictims and refugeesfrom|Association of Polish|2,500|18|2,518|
|Ukraine|Knights ofMalta UK||||
|Secure online management|Bahamas National|7,487|53|7,540|
|platform fortraining courses|Trust||||
|thatwill support citizen science|||||
|initiatives atthe Lucayan|||||
|National Park and Bonefish Pond|||||
|National Park|||||
|Support Cape Eleuthera Island|Cape Eleuthera|18,533|132|18,665|
|School tofacilitate capacity|Foundation||||
|building and sustainingthe|||||
|Bahamian stone crabfisheryfor|||||
|thefuture|||||
|Support student enrichment at|Eton College|490,525|3,489|494,014|
|the College in accordance with|||||
|the College's charitable|||||
|purposes|||||
|Supportthe carbon offset|Wetlands|71,480|508|71,988|
|programthrough blue carbon|International Panama||||
|opportunities in mangrove|||||
|wetland areas. Develop an|||||
|integrated approach to support|||||
|wetlands conservation inthe|||||
|Gulfof Chiriqui|||||
|Support research and policy|Game & Wildlife|60,000|427|60,427|
|programme inthe Uplands,to|Conservation Trust||||
|bring Salmon Schoolto COP26 at|||||
|Glasgow, and general use|||||
|Support MarViva grantsthat|Multiplier|30,256|215|30,471|
|contributeto improved marine|||||
|enforcement capacityfor|||||
|effective Marine Special|||||
|Planning implementation in the|||||
|Great Gulfof Chiriqui|||||





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||**at 1 April 2023**|||||
|---|---|---|---|---|---|
|**5. **|**Charitable Activities (continued)**|||||
||Supportthe Rio Grande|National Fish &|56,730|404|57,134|
||Headwaters Riparian|Wildlife Foundation||||
||Restoration Program; support|||||
||projectsthat addressthe leading|||||
||factors in aquatic species|||||
||decline, including habitat|||||
||alteration, environmental|||||
||change and invasive species, and|||||
||promote healthy headwater|||||
||streams|||||
||Supportthe Our Forests Aren't|Natural Resources|75,640|538|76,178|
||Fuel Campaign and its effortsto|Defense Council||||
||reduce demand for biomass by|||||
||advocatingfor science-based|||||
||policies. Supportthe North|||||
||Carolina CAFOs Campaign;|||||
||addressthe harmsfrom CAFOs|||||
||on North Carolina communities|||||
||and environment, and advocate|||||
||for policy change|||||
||Support public relations|Partnershipfor Policy|111,198|791|111,989|
||campaignto end subsidiesfor|Integrity||||
||forest biomass in meetingthe|||||
||EU's renewable energytargets|||||
||and related efforts|||||
||Supportthe church|The PCC of St Mary|86,000|612|86,612|
|||with St Peter and St||||
|||Jude||||
||Support data publication and|The Renewable Energy|25,000|178|25,178|
||analysis relatedto renewable|Foundation||||
||energy|||||





|**5.**|**Charitable Activities (continued}**|||||
|---|---|---|---|---|---|
||Supportthe Shark Conservation|Rockefeller|2,488,645|17,703|2,506,348|
||Fund which is dedicatedto|Philanthropy Advisors||||
||protecting sharks and rays|||||
||worldwide. Support Oceans 5|||||
||grantsthat build political will|||||
||among government officials,|||||
||increasing fisheries data,|||||
||strengthening science-based|||||
||decision-making, creating new|||||
||management regimes,|||||
||increasing enforcement|||||
||activities, prohibiting oil|||||
||development, and securing new|||||
||MPAS.|||||
||Supportthe redevelopment|RUSI|756,401|5,381|761,782|
||appeal for 61 Whitehall|||||
||Supportthe Columbia University|Trustees of Columbia|756,401|5,381|761,782|
||Mailman School of Public|University inthe City||||
||Health's Centerfor Infection and|of New York||||
||Immunity effortsto establish a|||||
||Global Alliancefor Preventing|||||
||Pandemics hub in Zambiato|||||
||conduct infectious diseases|||||
||surveillance and research and|||||
||serve as a regional resource|||||
||Establish a scholarship program|The Gresham's|1,000,000|7,114|1,007,114|
||for American students at|Foundation||||
||Gresham's School|||||
||Supportthe continued work of|The Nature|94,550|673|95,223|
||the Rio Grande Water Fund and|Conservancy||||
||its associated|||||
||communications/outreach|||||
||activities|||||
||**Total expenditure**||**6,131,346**|**43,617**|**6,174,963**|





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|**Governance Costs**|||
|---|---|---|
||_`2023`_|_`2022`_|
||£|£|
|Bank charges|342|529|
|Independent auditorsfee|o|24,000|
|Independent examiners reportfee|18,000|o|
|Accountingfees and services|4,573|2,370|
|Solicitorsfees|957|3,090|
|FX (loss)|(347,383)|13,628|
||(323,511)|43,617|



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|**8.**|**Creditors: amounts falling due within one year**|||
|---|---|---|---|
|||_`2023`_|_`2022`_|
|||£|£|
||Accruals|24,973|29,280|
||Grants Creditors|107,500|127,000|
|||132,473|156,280|
|**9.**|**Creditors: amounts falling due after more than one year**|||
|||_`2023`_|_`2022`_|
|||£|£|
||Grants Creditor- Eton College pledge payment due in 2023|o|98,404|
||Grants Creditor- Eton College pledge payment due in 2024|96,251|96,833|
||Grants Creditor- Eton College pledge payment due in 2025|92,643|95,288|
|||188,894|290,525|





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||||||_2023 and 2022_|
|---|---|---|---|---|---|
|||||_Allotted called _|_up andfully paid_|
|||||_No_|£|
|Ordinary|shares|of£1|each|1|1|



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|**Movements on reserves**|||
|---|---|---|
||_Unrestricted_||
||_income_||
||_funds_|_Total_|
||£|£|
|At 2 April 2022|3,446,199|3,446,200|
|Lossforthe period|(3,705,868)|(3,705,868)|
|At 1 April 2023|(259,669)|(259,668)|



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