2023-03-31-accounts - The Pack Foundation

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		Page
Legal and sdminisealive	information
Trustees' Reporl
Independent examiner's	report
Statement olfinancial activges
Balance sheet
Notes totha dnancial statements		8-12

Trlrstees				Gerald N Pack
				Carol APack
				Ellsabeth Hirlemann
				Matthew Peck
				Simon Pack
				Jeremy Pack
				Hannah Aylstt
Key Management		Pemonnsl		Trustees ss above, and Simon Whitehouse
Principal address				37St Margaret's	Street
				Canterbury
				Kent
				CT1 2TU
Independent	examiner			Samantha Rouse FCCA DChA
				Kreston Reeves	LLP
				Chanered Accountants
				37St Margaret's	Street
				Canterbury
				Kent
				CT12TU
Sankem snd	Invssbnent		Managers	Coutls &Co
				440Strand
				London
				WC2R OQS

I report to the trustees on my examination ofthe accounts ofthe charity for the year ended 31 March 2023.	I report to the trustees on my examination ofthe accounts ofthe charity for the year ended 31 March 2023.	I report to the trustees on my examination ofthe accounts ofthe charity for the year ended 31 March 2023.	I report to the trustees on my examination ofthe accounts ofthe charity for the year ended 31 March 2023.	I report to the trustees on my examination ofthe accounts ofthe charity for the year ended 31 March 2023.
Responslbgilles	and basis ofreport
As the charity's trustees you are responsible for the preparation ofthe accounts			in accordance	with the requirements		of
the Charities Act	2011 ('the 2011Act').
I report in mspect of my examinafion ofthe charity's accounts		cerned out under section 145ofthe Act and in			canying	out
my examinabon	I have followed afi the applicable Directions	given by the Charity	Commission	under secbon	145(5)(b)of
the Act.
Independent examiner's statement
I have completed	my examination. I confirm that no material	matters have come	to my attention in connection with			the
examination giving me cause to believe that in any material respect:
1.	accounting records were not kept in respect	ofthe charity as required by section 130ofthe 2011Act;				or
2.	the accounts do not accord with those records; or
3.	the accounts do not comply with the applicable requirements		concerning	the form and	content	of
	accounts set out in the Charities (Accounts	and Reports) Regulations 2008 other than any			requirement
	that the accounts give a 'We and fair vieW	which is not a maiter considered		as part ofan independent
	examination.

					Unrestricted	funda
				Notes	2023	2022
						2
Income from:
Investment income					35,832	31,839
Donations received					8,420	2,470
Other Income					4
GE Aid					2,105	618
Total Income
Expendltum on:
Cost of raising funds
Investment	management		fees		8,742	9,065
Charitable expenditure					26,978	81,057
Other expenditure					2,204	2,730
Total expenditure
Net Income before gains		on investments			8,437	(57,925)
Realised and unrealised	gains on investments			6.2	(90.662)	95,591
Exchange rate movements		on cash	held as inveslmsnt		1,811	504
Net movement In funds					(80,414)	38,170
Reconcglation offunds:
Fund balances st 1 Aprg		2022			1,865,342	1,827,172
Fund balances st 31March 2023					84R8	88

Direct charitable expenditure	Direct charitable expenditure	Direct charitable expenditure								2023	2023	2022
										E		E.
General grants;
Porchlight										10,000		15,000
Demelza										5,000		5,000
Good Chance Theatre										5,000
Kent Community Foundation										2,855		2,473
NSPCC										668		2,004
Royal Briash Legion												20,000
British Red Cross												10,000
UNHCR UK												10,000
Prostate Cancer												5,000
King's College Hospital	Charity											5,000
Royal Marsden Cancer	Charity											3,600
Other sundry grants										3,455
										26,978		81,057
Otherexpenditure										2023		2022
										E		E
Accountants remuneration										1,422		1,844
Professional fees										782		886
										2204		27
Included within 'Accountants		remuneration'			are Independent			Examiners fees ofE1,422 (2022 E1,844).
Trustees' remunenttion
The Trustees received no	remuneration			or reimbursement				during the year (2022: None).
The Trustees consider that		themselves			and Simon Whitehouse comprise the Key Management						Personnel of
the charity in charge of directing			and controlling,			running		and operating	the charity on	a day to	day	basis. All
Trustees give of their time		freely	and no		Trustee	received		remuneration	in the year. Simon Whitehouse is an
external consultant.
As noted above no Trustees		received any remuneration					during the year (2022:Enil) and			amounts	due to Key
Management Personnel in the year amounted to						E782(2022:E886).
Fixed assets investments										2023		2022
Quoted investments comprise:										E		E
Bank and cash deposits										31,249		36,811
Coutls Bank Charity Porffotio (note 5.2)									1 729954		1	818542
										1 761203	1 855353
Quoted investments										2023		2022
										E
At 1 April 2022										1,818,542	1,763,093
Ad(aaons										887,846		759,555
Disposals										(885,772)		(799,697)
Net realised and unrealised		investment		(losses) Igains						90662		95,591
At 31March 2023										1 729954	1 818542

5	Fixed assets investments	Fixed assets investments					2023	2022
							8	2
5.3	Cost at 31 March						1697537	1 682568
	Holdings	in investments at 31 March, which		are material		in value are:
		Coutts UK ESG Insights	Equity Fund				326,148	118,728
		Coutls US and Canada	Enhanced	Index Govt		Bond Fund CGBP Dist	287,030
		Coutls US ESG InsigMs	Equity Fund				282,502	323,926
		Coutts Europe Acdvely	Managed	US Equity	Index Fund		148,719	177,860
		Coutls Europe Adivety	Managed	UK Equity	Index Fund		132,507	140,050
		Vangaurd Emerging Markets Stock Index					68,763	29,146
		Invesco European Equiiy Fund					53,093	64,423
		Legal &General Health	and Pharma				49,316	41,869
		Royal London Bond Funds ICVC		Shares YGBP Royal London Short Term			41,696
		Neuberger Barman Short Duration		Emerging		Mkt Debt	41,158	45,056
		Robeco Capital growth	- Emerging	Stars			34,943	37,307
		Cootie US ESG Insights	Equity Fund (hedged)				33,069	43,757
		Coutls Europe Enhanced Index Government			Bond Fund CGBP Dist		29,192
		Xtrackers —MSCI Japan					27,482	28,887
		Royal London sustainable leaders					18,088	39,009
		Artemis UK Select Fund	GBP				17,827	35,170
		Equator UK Sov Debt fund						233,788
		iShares FTSE 100UCITS ETFGBP						144,271
		Capital International Fund New Perspective			Fund			57,739
		UBSChina Fixed Income						43,404
		Schroder Income Fund	GBP					36,996
	Debtom						2023	2022
							6	6
	Gift Aid						21 5	618
	Cash at	bank					2023	2022
							5	6
	Bank and money market deposits						24224	12079
	Creditors: amounts falling due within one year						2023	2022
							2	6
	Accruals	and deferred income					2604	2708
	Financial	instruments					2023	2022
							2	2
	Financial	assets measured at farr	value				1 729954	1818542
	Financial	assets measured at fair	value comprise investments.

Unresbtcted	funds	funds
Unrestricted	funds - current year
							Transfer
		As at	1 Aprg			Unmagsed	behveen	As at 31
			2022	Income	Expenditure	losses	funds	March 2023
			2	2	2	2	2		2
Unrestricted
-General fund			9,989	10,619	(29,182)		32,299	23,725
Designated - Fixed asset	fund investment	1 855353		35742	8742	88851	32299	1761203
								17
Unrestricted	funds - prior year
							Transler
		As at	1 Aprg			Unreslised	between	As at 24
			2021	Irlcorrw	Expenditure	gains	funds	Mamh	2022
			2	2	2	8	2		2
Unrestricted
-General fund				3,093	(83,787)				9,989
Designated	fund
- Fixed asset	investment	1 782834		31834	906	96095	46345	1855353
Transfer between funds