THE PAMELA MATTHEWS CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 REGISTERED CHARrrf No. 1117094
THE PAMELA MATTHEWS CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBÉR 2022 CONTENTS Page REPORT OF THE TRUSTEES 14 REPORT OF THE INOEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET NOTES TO THE FINANcL STATEMENTS 8-12 2021 STATEMENT OF FINcIAL ACTlVtTIES 13
THE PAMELA MATTHEVIS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees ale plèased to FY8SSnt their annual Iw5te85' ryrt together Yth the finanud staleffnts of Ihe charity for the yearended 31 Drnber2022. Reference and Admlnistrabon Detslls Full name.. T Pamela Matthekn3 Charitable Twst Registered Chanty nurtEr'. 1117(fJ4 Prinupal athjress & Solicit$.. BDB Pitrnans LLP One 8arfhobmewC105e London EC1A 7BL Tr(Btees". lan HammorKI Mccunc Penek)pe Jane Chapman Ifelired 15 Novemter 20231 Eloabelh Ann Neak lappomted 15 Noveffthr 20231 Independent ExamirEr. Sally Knvaht FCA 1 Cooper5 Me Beckenham BR3 1AJ Investment thisers.. Investe¢ 2 Gresham Str8el London EC2V 7QN $truc¢ur, Gov$rnan¢e and Managomsnt The Charity was created on the death ol ParTk MaitlEw5 on 13 OctLthr 2C¥J6 and has Lwn registered wlh the Charity Commission under numtEr 1117094. Appolntm8nt of Twst868 A Trustee or Trustees may appoin18d or discharg&1 at any b.me by resdution of a meeting of the Trustee5 provided that a memorarKILm such apwntsnent discharge is signed as a Deed, erther at the rneeting by the [SO pre&dir¥J or some other rnann8r dite(ed by the rneeb"n9 aj affanged by Other persons present al meebrvj. Thete musl be M more than foul Trustees al any tme. lan Mcculloch 15 one of the or¥Jinal TtU5tees. Elizabeth Nea 15 a s01iolor *ith e¥perien and proftrssional knovAedge of being a charty trustee. She was sultaY briefed about the Charty on tcomIng a trustee P1
THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 DECEMBER 2022 ObJg¢ts and ktlvit Tnjsl was esl8tAished by a deed dated 13 Ottor 2( wth rr81 tharitae purposes. Its assats comprise the reSu8 of the estate ot Pamela Matthews dd on 5 08(xmber 2005,. they ¥%Ere transferred lo fv chaiity follrM?ng its fornathjn on 13 Oclober 2O)6. In accordance with Trust (ed the Trustees hobj the iicome aTyJ Lxpital of the Trust Fund to appty Ihe income and all of such part or parts of the capilal in c0[an with the tharitable obFcts as Ihe Trustees tnay in their dEcreb"on think fft. The Trust W $tstes that the Trustees in "r d$(xeb"on. inst of apptyH)g the income of the Charity in any ar. may attumulate all w any p1 of irM>yne. Any awmulthns may be applied in subsequent years as thiyjgh it was ts inc¢m of Ihat year. Grant Maklng Pollctes In general tefflis. the Trust aims to support the lollowTrJ Charitab areas'.- lal LLKal Cavendi5hlSuffok cornmunty pfojeLts Ibl Animal care chantes 1¢) Armed forces chari Idl Medical ar disabilrty ¢harrte$ lel Garden and environmentsl chari lfj Arts and Cuhure Igl Charities supporied by the late Pamela Maiihews during her lrfeb.me Where proposed t1pts are not regBlered chanties. Trustees undertake a Ihorough examination of Ihe organi5ation lo ensure the purpose of Ihe grant E property con5KJe to be thantsble and that the a tnean5 of ensuring. so far as rea50nabty walCab. that any grant made shall i% propety applied to suth Charitab purpose or repa lo the Ttuslees. Rgport on PutAic Bengfit The Trustees have hthy ward to Charity C(xntnissffi's gUKyan on rNJbl¢ beriL tharills aims a r-al1n9 and for ts pubk benefft. By making gonts in acrIan wilh this ¢haritys c&jects the Trustees are confident that trir publ benefit duty is fUffild The Trustees also consk1er that there i8 no delrmnenl. harni more than in(th)lal private tnefit artsirKJ from tsrrying out the charitV'8 aims. Fund Ralslng Pollcy The Charrtl5 incotne genwated from Ihe invesknents hekj. rt does urykrtake fundraising activities. hi8vem8nts and Porfomn¢ 22 grants of £59,2 in total made CA)mmitted to lstrtInS over the year 12021.. 24 granis tolalling £48,1. They were Pa lo benefarleS who fall wthin ihe seven categories menboned above. The grants were pawj following the Truslee5' meebng5 hetrj in the year. There were two Tfustee5' rrieelings in 2022. Pa9e 2
THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ÈNDED 31 DECEMBER 2022 Flnanclal Rèvi The Trust's Fu$ hdd in investrnenis, freehokl propwties. thatiels and cash. The values of the properties and chatteLs in ISe a(rnts are the s&ne as the values used for probate purwses in Pamela matth, estate. Tf propert the subject of a rent Iree 15 year se dated 25th November 2008 lo the Lan(knark Trust Investment income Wds £85.75512021". £78.769}. ott incorr £3%12021.. £1481 ChantsLle grants of £59.28j in total re rnale CK cJ)mmitted iring ihe >ear12021.. £48,000). Supwrt costs (administration and managenAtI £25,724 12021. £23,01. Oiher e4Endrture Icharged to Trust Fund) Iude$ inveslment managEnt aryj safe IxJsl(Mly fees of£19.13612021.. £19.7641. Imvstment Policy and Perfoimance The TrLLqI Deed gives the TrLtslS ide of investrnent. The Trustees have &Jreed an investment policy, which has notified to the 8rpointed Investrnl advisors. Investe¢. The rx)li¢y of tr Trustees is lo ad)ieve a balarted p(thI ol CO[rE produong seoJrrtEs and PItal gro%4rth whilst adopting a rnedium ve1 of iisk. The perfotrnanix of the lunds is u)ntin¢Jally rnonitored by Investe¢ ar Investec's perfOanCe is rnonilored by the Tnjstees vho mt vAlh the Investment mana9er al 8$t once a year. Invesfvnls are shown at market value ralher than tKK)k ujst Mi x0rdan wlh the accounting polioes in note 1. In the year to 31 t)rnber 2022, the tharity realised k)sses on h.sted investments of £11.381 12021". gains of 5.2431. Unrealised losses £414.03312021". gains of £308.2) Reserves Pollcy The Tiust885 have establisw a Reserves Pdiw wrth feren to Chanty C(mmison guidance ICC191 and accounting standards. Cash Ilow is 0fullY TnotutoEd to match in(x)ffle retripts with operab.ng expenrtU Subject to this, the Trtee5 aim to appty all incne to tharitab purposes. As 8t 31 Decetnber 2022 there were reserves n the Unreslrided FU of £28.53512021." £27,428). to be used for charitable purposes Èn futu, allh9h the Trustees can, al their discretK)n. instead of applying Ihe Income of the thanty in any yeai. alUlate all or part of rt as if it re an atAyelion lo capital. T Trustees are rev1ng the Reserves Policy in line vAth trir intention to up the Trust over a defined Peri of tsme (see Fulure Pbns sects(} Golng Concom Trustees have prepa Ihe finar18[ StatnIS a glyng con basi5. However, LEfo rea¢hing their elOn to ¢Jo so, carefvl conderat4jn has trEen gNen lo the orooiro impact of wi economic faciors induding rIng inflation and o)st of living. The main consdeption was the volablrty of the st£K rnatket and its impliG3tions on both the Val of the investment portfolio and the Ve1 of arising Iherefrom as the carity lieS (x) tK)th to pr{u¢e sufficient funds lo rtel tts Ik?bilthes as arnl Ihey lall L1Le. Trustees are 5atlsfied Ihat rt is appropriate io wepalet finanoal ststements a gtyng o)n¢em basis. Page 3
THE PAMELA MATTHEWS CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 Risk Uonagement The risks to %%i¢h Ire Charity 6 exposed. as KlenbfS by the Twstees. have tEen revievEd and systems and ¥(edU$ have been estsblished to mar¥age Ihose risks. In partKxJLir. as rnentyon above. the Trustees do not enter into cl1trnenl5 in excess of their availab G3sh resources and as a result they operate in a very risk enviroMnI. Any drop in Ints)ff wll matthJ by an appropriate reduction in experrtU Future Plans It is the intention of the Trustees to tinUe to manage the InvestrTnt porffolio 50 as to produ an investment inconk from Tr•thic g¥anis to dl[lable organisat$ in &re the grant-making policy sel out on page 2 sin the end of ts actountiro year covered by this Report aryj Acetyjnts, thè Ttustees have transferred to The LarKtmark Trust for no matenal conshjeration freehok1 properiies and the d)atleL8. The Trustees are now (x)nserIng 8 staged distnbution wlnding up of Ihe Charrty over the next fewyear5. Re$pon$ibilil$ of the Trustees Law applicab to d)arities in EnglaNJ & Wa18S Wit8s the Tlljstees to prepare fin8rri81 statnts for each financial year wthich give a tnje and faw view of Ihe charit1$ finanual adivities duriro the ar and of fin8ncial w$ition al the end of the year. In prepafing finanoal ststements giving a true aThg fair v4, the Trustees Shou followbesl wacbee and". 5818Ct surtable acmjnting polioes aJ then apply them (91eny', - rnake judgenEnts and eslimates that are reasonable aThJ rUdent." stale vAlher applicaNe accounti 51aadard5 ar stalennts of rernrnended practKe have been follrh4Ed. subject to any departures dis¢losed aThJ explained In Ihe fin8rKial st8terrents. and.. prepa the finanoal statements on the 90ing cwcem basis unkss it 15 inappropriate to presume that t (arity wll conb"nL in oatn. The Trustees a respongbè for kNn9 accounbng records W)ich disck)se vthh asonable accuracy If financial position of the d)arity and thich enab them to ensure thal the finanoal statements ecrfny wth applieable law and gulatiOnS They a also responsible for safeguarding the assets of the ctharity and hen for taking reasonable steps for the pre"On and thte¢tKn of tr3ud and other IrregUritieS. Approved by the Trustees and signed on their behalP lan McCulloch- Trustee Date..
THE PAMELA MATTHEWS ¢HARrrABLE TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES IN RESPECTOF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 I report io the trusiees my examinaiion ol 0niS of The Pamela mat Charitaue Trust Cthe Trusfl lor the year ended 31 DeCemr 2022 vthith are set on pages 6 to 12. Re$ponslbilities and basis of report As the charity trustees of the Trust you are iesFX)nsIb fot the yq)aration of th8 ¥counts in a(xx)rdan ith th8 requirements ofthe Charitss Act 2011 fthe 2011 Act'l. I report in Spect of my 8xaminalion of the Trusf5 accounts G3rried oul under 5e¢tion 145 of ts 2011 Act and in carryiro out my examination I have fdl(Aw&Y all ts applic¥)k DirectH)ns given by the Charity Commission urKJef sectitsn 14515} Ibl of tIE 2011 Act Independent examiner's statement I hav8 cOmpted my examinabon. I cfirm ihat rKJ malerol matters have ce tr my attentson in conrwtion wth the examina"on gMr¥J cause to Ihat in any material resrrt" accountirYJ r8cords were not kept in re5P8Ct ofth8 Trust as rery1 by sethon 130 ofthe Ad.. or the accounis do rot amyd with those recd$.. or the accounts do rK)t cw wth tre 4pltsble requirements concernirvJ the lom and content of thè aeeounts s8t (xrt in ts Charities IAux)unts and Repctsl Regulations 2008 other than any requirement that the accounts give a Iruè aThY fai¢ view whid) is not a mattèr Cons&[ed as part of an independentexaminabon_ Use of my report This report is rnaije solety to Trustees, as a body, in accordance *ith Chaptèr 3 of Part 8 ofthè charib.es Act 2011. My examination has en undertaken so that I [nht State to the TtU5fs Trustee5 those tnatters which l am required to state to them In an IndepetKJent Exarninerfs RepxNt arKS for no other prup05e To the fullest extent permitted by Law, I do not accept or a5surne responsibility io any other than ihe Trusl and Trust's Trustees as a Lyjdy. lor my examinab"on. for Ihis Rert or forthe Cpinior I have f(xrned. 3•<y Salty Knight FCA 1 Coopers Mews, Beckenham. BR3 1A1 Dats." 21 February 2024 Page 5
THE PAMELA MATTHEWS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 DECEMBER 2022 INCOME FUND EXPENDABLE lunrestri¢tedl ENDOWMENT TOTAL 2022 TOTAL 2021 Ipage 131 INCOME AND EXPENDITURE Income and Endowments frorn Investment inccffie Other COMe 85.755 356 8S,7S5 356 78,789 148 Total Income 86,111 86.111 78,917 EXPENDrruRE ON Ralsing Funds Investment managemenl fees 19.136 19,136 19,764 Char6table Actfv1es Grants Support costs S9280 25.724 S9,280 25,724 48.CM)O 23.(0 Total ExndItre 85.004 19.136 104.140 90.824 NET INCOMEIIEXPENDITUREI 1.107 119,1361 118,029} 111,9071 Other recogni58d gain$llloss•sl Foreign currency Ilossl Gainslllossesl on inv6stments". -realised -unrea11sed 14571 111,3811 {414.0331 1425.4131 111,3811 {414,0331 142S,4131 25.243 308,295 333.081 Net Movement in Fund8 1.107 1444.5491 1443,4421 321,174 Reconclllatlon of Funds Fund Ba18nce5 brought forward 27.428 6,100,029 6.127.457 5.8(b.283 TOTAL FUNOS CARRIED FORWARD AT 31 DECEMBER 2022 28.$35 £ 5.655,480 £ 5.684.015 £ 6,127.457 The noies on p4e5 8 - 12 lom) part of these finala1 statements Pagp 6
THE PAMELA MATTHEVIS CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2022 2022 Fixed Assets Investments Freehold FKoperties Chattels 2,985,882 2,603,000 60.817 5.639,699 3,409.100 2.603.QKX) 50.817 6,062,917 Current Assets - BDP Pilmans LLP- ClientArtount - Metro Bank a¢¢wnt - Investec Accounis rotsl CUrnt As$ets 72 20,900 55,720 76.692 313 4Th) 73.771 74,490 Less= Creditors Amounts falllng due within one year Accruals Grants committed 12,596 19,780 32.376 9.950 9.950 Net current assets 44,316 Net Assets S.684.015 £ 6,127.457 Funds of the Charity Capital Funds ExpendabÈ EndoMnenl 5.655A80 6,11J).029 Income Funds Income Fund lunreslrictedl 28.535 27.428 Total Funds 5.684,015 £ 6,127,457 Approved by the Tnjstees aulhoris&J for issue on l?Feb 2024 and s¥Jned on their behaw by.. I n:-LLL lan Mcculloch - Trustee Dale The notes on peS 8- 12 foffli part of Ihe5e finanL¥al statets Page 7
THE PAMELA MATTHEWS CHARITABLE TRUST NOTES TO THE FINACIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2022 1. Accounting Policios The finanoal slalements have been prepared uTh1er the hi810al c16t u)nvents)n. ith the excepti that Inveslmenls are shown al rnarkel value as al the baL9n sheel date. and are in accx)rdance vrilh the Statement of Recommended PractiTr." Accounb"ng and Reporting by Charities (Oclober 20191. appli¢abl8 10 charities preparing their accounts In accordan wth the Finanaal Reporting StarKJard aptyrable in the UK and Republic of Irebnd IFRS 1021. aryj the CharrtEs Act 2011. The Charity ujnslrtules a public benefrt entity as defined by FRS 102. whe n$SatY estvnai8s IjgementS are b8s&J on his10¥1 eXpern¢£ and other factors Funds Unreslrited Income Fund comprises Ihe InLX>tne whKth Ihe Trustees ar8 free to use in accordance wilh the charitabk objects. The Expendabk EnoneI Fund represents those capital a55els whKh are held for the bryer lemi for Trust. in ar£ordan with the iemis of the Trust Deed. Inc(xpe arising on the Ewendable Endowment FUTh1 G8n k used in accor<lan¢e Ihe 014.ecls of the TTUSt arKI 15 Induded in the Unrestricted Income Fund. As an Expendabk Endowment Fund the (apital also be Spent in certaF) ircutnslances in fulIment of the Trust's obj.eds Any caprtal gains (K kssse5 art5ing on the inve5tment5 held i) the Expendab EndowTnent Fund forni part of the Tntst Fund The Trustees are SatiSfd that it B approwiate to yepare finala1 siatements on a going COnM basis. Before reachiTra thi5 corKbJsion the Trustees thsre k)n9pr-lerrn plan5 for Ihe TtU51, the irnpact of der socv)conornic events. infiation and the ¥fAatilty of Ihe stock mad(et as shM in the Report Of Ire Truslees on pwje 3 slmenl Income Income from interest, royafts and dNMlends i8 recognise(S when rTrIable". royallEs are recognised when receivabk in accordance wth the sUbslan of the levant agreernent DNKJend5 are recognised when the Shareholder's rvJhl to recei¥ payment s estaNtshed. alth(xJ9h ai the 3[ end if the ThIend is due but not received li.e. rt 'ex-diwidend"I VL k8 not Indled in these ac¢oun15, rt will be sh(wn in the sub5equenl year wltn reived. Accumu1Jn dw¥jeJS are not Pa in cash but to Ihe value of the ho1$. These are Induded withn the gains in the EWd8ts E[nt enditure A liability and related expEnditure B reCcgnj hen there s a Wl or con$tru¢twe Oblal)n ai the balan sheet date a5 a resuh of a past event,. il is l&ely to be seiw and rt tan be mèasured or esbinaled rehably Ixltr Ihan InveskneDt managernent fees (expenditure on raising funds). all administratK)n expenses are eharitable 5UPPOrt Costs. Grants are reccqnssed then the Trustees have rne the d&usion to make payment and thai decEioD has been comrnunKxled to the reCipnt and rt ts probable that payment wdl take place HowÈver. the o¢ognibon ol any liabilty will be deFeThJenl (Mi any conditN)ns attaching lo th& cx)mmitmenl. Pro rties. chattels and inveslmenls Freehold properties and chattels are valu1 at Ihe wobate values for Mrs PameLa Matthews, estate. Investments are valued al Iheir mhj market value al Ihe erKI_ The value of the ¢hatiels has been adjusted to reflect dLsposals since It probate date Rea16ed and unreali58d ainsn05ses on in¥e5tmenls Realed gainslk)sses on Ihe disposal of investments ale c8k¥Ied by refen lo the rnarkel value of those in¥eslments at the start of If accounts KfKxI . if purthased dunng the accounting perioKJ. the cost of acquiSitTr. Unrealised gainsAosses refied Ihe inueaseldetrease in vakje the accounting perK)d of Investment5 fve throwhout that or. case of Investments purtha5ed during the accounting perK and still he ai end of the ptrrd. the increaseldecrease value uxnpared to their a¢quksition C$1 P8
THE PAMELA MAThHEWS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 2. Income from inve$lments for the year comprises the following.. 2022 2021 Incorne frorn OVSeaS hoKIiThJs Income from UK investsnents fixed interest - u[lieS and unrt trusts - propety 34.139 26,222 4,968 43.160 3.48B 5,097 42.741 4,709 £ 85.755 £ 78,769 3. Other Income 2022 2021 Investe¢- dewsrt interest Onon Publishiw royaltEs 287 69 143 356 148 4. Expenditurè Raising lund$ Investec investment Manag)ent and safe (ajstody lees 19.136 19,764 19,136 19,764 5. charItsb Activi¢1 Income Fund Expendablè lunre5thdedl Endowment Total 2022 Total 2021 Grants eommrtted" 59,280 59,280 48.000 Support aThY govemance cosls BDB Pitmans LLP fees Trustee eynses Independent Examinab"on fee 24.312 102 1.310 25,724 24,312 102 1.310 25,724 21,750 1,310 22.(0 £85,004 £85.004 £7fj.O ' A list olgranls recIpnts is availab from the Twstees at the iegislered office. Page 9
THE PAMELA MATTHEWS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 8. Investments Movements on quoted inveslmentsknere as 1(Al•." 2022 2021 Market value at 1 January 2022 Add.. ao]ui8rtions at cost Less. Disposals al open rnarket value. trRirg.' realised gainlllossl proceeds 3.409,100 86,909 3.076.542 259.964 111.3811 84.714 {96.0951 1235.7011 Net unr88115ed1105sy98in on revalvath)n at 31 Dmber 2022 1414,0331 308.295 Market value at 31 2022 2,985,882 £ 3.409,1(Y) Historical cost as at 31 DeCnr 2022 2,192,376 £2,155,178 All investrnenls are listed on a recxorwsed slcd( exchan. The f10¥r vesnènt arthUn for rnoré than 5% 01 Ihe portfolio by Ydlue. Findlay Pth FutvJ5 Atnetican USD Dis 8.1 7. Freehold Properts and Chattels The Trust chattds are valued at £S).817 on 31 Deber 2022 and 2021 and the followiro propertres fomi the freehokj of Cavendish Hall. Caverwjish, Suffolk. 2022 2021 Main House, gardens and oulbuiwings Land122.39 acres) The Coach House Isubjectto R(k)ertson tenancy) The Coach House Isubjectto K Johnson lease) The Old Lodge The New Lodge Isubject to Lee tenancy} 1,600,000 110,000 475,000 90.000 140,000 188.000 1,6(X),oox) 110.OCKJ 475,OQKI 90,000 140,000 188,0(K) Total value of properbes 2.603.000 £ 2,603,000 The values in these CoUnts aThJ 2021 are the sane as thè valS used probate purposes in Parnel8 Matthews, estate. The prLFErties ere Ihe subject of a 15 year renl free kase ¢Yated 25 November 2008 to The Landmark Trust aThY have Sin been transfeired to The Lat)dma(k Trust They were not consbyered as l[j h8ld for investrnent purp05es. PaJe 10
THE PAMELA MATTHEWS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 8. Analysls of N•t Assèts Betreen Funds Fund balan$ at 31 0ecernber2022 are repre5entgd by.. Income FurKI lunrestricledl Expendable Endowment Total Funds Fixed Assets Current Assets Creditors 5.639,699 16.781 5,639,699 76,692 132,3761 60,910 (32,3761 Net Assets 28.535 6.655.480 £ 5,684,01S The 5urnrnary of net assets belween fvnd5 ftx 31 December 2021 was as folkA¥s.' Income Fund lunreslrictedl Expendable Endowment Total Funds Fixed Assets Currellt ksets Creditors S.(2.917 37.112 6.062.917 74,490 19.9501 37.378 19.9501 Net Assets 27.428 6.100.029 £ 6.127,457 9. Summary of Fund Movemènts 2022 Income Fund lunrestnctedl 2022 Expendablo Endowment 2021 Income Fund lun$trICted} 2021 Expendablo Endowment Balance brought forward 27,428 6.100.029 19,571 5.786.712 Income ExndItUre Other recognised gain(lO$SeS) 86,111 185.0041 78.917 I71.Cl {19,1361 1425.4131 119,7641 333.081 Balance canied foArj 28,535 5,655,480 27.428 £ 6.100.029 Total funds 2022 - 5.684.015 2021- 6.127.457 10. Trustaes, Remuneration and Expenses and Related Parties transactions The Trustees do not ernpkjy any slaff12021 ne1. No rernuneratn was paid during 5Ear {2021'. Nill. Travel eXps&S of £102 were reimtwrs&J to or Trustee dunng the year12021.. Nill. During tre year £24,31212021 £21.2711 was paky lo 8DB Pib7)ans LLP lor adtninistration fees. PerElope Jat Chaprnan. a trusiee who rebred before these accounts were Sned. LS also a partrer ol BD8 Pittnan5 LLP. lan Hammond cU110¢h, a trustee. was a consultant ol BDB Pthans LLP dunng the Eeri$ mring these account5. Page11
THE PAMELA MATTHEWS CHARtTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. Post Balance Sheet Event Cavendish Hall and its assooated properbe5 and o)nlents We gilted to Landmark Trust on 6 July 2023. ahead of Ihe lortnal eXry of Ihe lease in November 2023. The Trustees are reviewiro the purpose ol the Trust in tt)e longer term. On balan. they have conc1Jed It. now that the connection wilh CaveISh Hall has been discharged, tr*y shoukl gradually distribute the carxtal over a per (probably of a few years) yet to t dètermin8d. Page 12
THE PAMELA MATTHE7•VS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEhlBER 2021 INCOME FUND EXPENDABLE lunresttthjl ENDOVIMENT TOTAL 2021 Notes INCOME AND EXPENDITURE In¢ome and Endowments from Investment income Othei Income 78.769 78.769 148 Total Income 78,917 78,917 EXPENDITURE ON Raising Funds InVestMt management fees 19,764 19,764 Charitsble Aetivities Grants Support costs 48.0 23,060 48,000 23,060 Total Expenditure 71,060 19.764 90,824 NET INCOMEIEXPENDITURE 7.857 (19.7641 {11,9071 Other re¢o9nised galnsllossès Fol9n ujrrency Ilossl Gains on investments". -reslised -unre211sl 1457} 25,243 308,295 333.081 25,243 308,295 333.081 Net Movement in Fund8 313.317 321.174 Reconclliation of Funds Fund Balances brwhl fonvard 1971 5.786.712 S,806,283 TOTAL FUNDS CARRIED FORWARD AT 31 DECEMBER 2021 27A28 6.100.029 6,127,457 Pè3e 13