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2022-09-30-accounts

Page
Report ofthe Trustees 1 to 3
Report ofthe Xndependent
Auditors		 4 to 5
Statement
of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
Notes to the Financial Statements 10 to 15

2022 2021
Unrestricted Total
fund funds
Notes E E
INCOME FROM
Investment
income		 417,151 452,420
EXPENDITURE ON
Portfolio management 1,456 102
Charitable
activities
Charitable
Activities		 475,657 449,300
Other 18,516 18,464
Total 495,629 467,866
Net gains/(losses) on investments (1,087,899) 2,219,041
NET INCOME/(EXPENDITURE) (1,166,377) 2,203,595
RECONCILIATION OF FUNDS
Total funds
brought		 forward 16,982,645 14,779,050
TOTAL FUNDS CARRIED FORWARD 15,816,268 16,982,645

BALANCE SHEET
30September 2022
2022 2021
Unrestricted Tota
I
fund funds
Notes F
FIXED ASSETS
Investments 14,589,562 15,167,689
CURRENT ASSETS
Cash at bank 1.,231,278 1,818,870
CREDITORS
Amounts
falling due within		 one year 10 (4,572) (3,914)
NET CURRENT ASSETS 1,226,706 1,814)956
TOTAL ASSETS LESSCURRENT
LIABILITIES 15,816,268 16,982,645
NET ASSETS 15,816,268 16,982,645
FUNDS
Unrestricted
funds		 15,816,268 16,982,645
TOTAI
FUNDS		 15,816,268 16,982,645

For The Year Ended 30Sep tember
2022
2022 2021
Notes E
Cash flows from operating activities
Cash generated
from operations		 (495,362) (467,647)
Net cash used
in operating
activities		 (495,362) (467,647)
Cash flows from investing activities
Purchase
of fixed asset investments
Sale of fixed asset investments
Interest
received
Dividends
received		 (42,302,593)
41,793,212
9,200
407,951		 (8,065,534)
4,617,905
4,688
447,732
Net cash used
in investing
activities		 (92,230) (2,995,209)
Change
in cash and cash
equivalents
in the reporting
Cash and cash equivalents		 period
at the		 (587,592) (3,462,856)
beginning
ofthe reporting		 period 1,818,870 5,281,726
Cash and cash equivalents
end ofthe reporting
period		 at the 1,231,278 1,818,870


OPERATING ACTIVITIES
2022 2021
E
Net {expenditure)/income
the Statement of Financial
Adjustments
for:		 for the reporting
Activities)		 period {asper (1,166,377) 2,203,595
Losses/(ga
in}on investments
Interest
received
Dividends
received
Unrealised
(Gains)/Losses
on
Cash re-valuation
Increase
in creditors		 investment S88,092
(9,200)
(407,951)
199,807
(391)
658		 (189,018)
(4,6SS)
(447,732)
(2,030,023)
219
Net cash used in operations (495,362) (467,647)

ANALYSIS OF CHANGES IN NET FUNDS
At 1.10,21
f		 Cash flow
E		 At 30,9.22
Net cash
Cash at bank 1,818,870 (587,592) 1,231,278
1,818,870 (587,592) 1,231,278
Total 1,818,870 (587,592) 1,231,278

For
The Year Ended
The Year Ended
The Year Ended		 30Septemb er
202
2
2. INVESTMENT INCOME
2022 2021
Interest
Dividends		 9,200
407,951		 4,688
447,732
417,151 452,420
3. PORTFOLIO MANAGEMENT
Investment management costs
2022 2021
f
Portfolio management 1,456 102
4. CHARITABLE ACTIVITIES COSTS
Grant
funding
of
activities
(see note
5)
Charitable Activities 475,657
S. GRANTS PAYABLE
2022 2021
E
Charitable Activities 475,657 449,300
The total grants paid to organisations during the year was as follows:
Year ended Year ended
30.09.22 30.09.21
E
Other Charitable organisations 475,657 449,300
6. SUPPORT COSTS
Governance
Management Finance costs Totals
E E E
Other resources expended 514 71 17,931 18,516

Support cost s, included in the above, are as follows:
2022 2021
Other
resources Total
expended
f		 activities
f
Postage and stationery 514 284
Bank charges 71 82
Auditors'
remuneration
Accountancy
Legal fees		 2,127
1,395
702		 1,080
1,044
Cons u Ita ncy 13,707 15,974
18,516 18,464
AUDITORS' REMUNERATION
2022 2021
f
Auditors'
Auditor's		 remuneration
remuneration		 - Non audit 1,440
1,560		 1,080
1,044
3,000 2,124

FIXEDA SSET INVESTMENTS
2022 2021
f f
Shares
Corporate		 Bonds 14,489,562
100,000		 15,067,689
100,000
14,589,562 15,167,689

Additional
informa		 tion
as follows;
Cash and
Quoted settlements
shares pending Totals
E
MARKET VALUE
At 1October 2021 14,111,615 956,074 15,067,689
Additions 14,077,956 28,224,637 42,302,593
Disposals
Unrealised
gains/(losses)
Realised gains/(losses)		 (13,285,435)
(199,807)
(887,701)		 {28,507,777) (41„793,212)
{199,807)
(887,701)
At 30 September 2022 13,816,628 672,934 14,489,562
NET BOOK VALUE
At 30 September 2022 13,816,628 672,934 14,489,562
At 30 September 2021 14,111,615 956,074 15,067,689
HISTORICAL COST
UK Overseas 2022 2021
E
Listed investments 7,693,187 6,323,248 14,016,435 12,730,244
Cash 672,934 672,934 956,074
8,366,121 6,323,248 14,689,369 13,686,318
INVESTMENTS AT MARKET VALUE COMPRISE:
UK Overseas 2022 2021
E f
Listed investments
Cash		 7,550,748
672,934		 6,265,880 13,816,628
672,934		 14,111,615
956,074
8,223,682 6,265,880 14,489,562 15,067,689
Cost or v alua tion
at 30 September
2		 022 is represented
by:
Cash and
Quoted settlements
shares pending Totals
E E
Valuation
Cost		 in 2022 (199,806)
14,016,434		 672,934 (199,806)
14,689,368
13,816,628 672,934 14,489,562
2022 2021
E
100,000 100,000

10. CREDITORS: CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
E
Other creditors 4,572 3,914
11. MOVEMENT IN FUNDS
Net
At movement At
1.10.21 in funds 30.9.22
Unrestricted funds
General fund 16,982,645 (1,166,377) 15,816,268
TOTAL FUNDS 16,982,645 (1,166,377) 15,816,268
Net mo vement in funds,
included		 in the above are as fo llows:
Incoming Resources Gains and Movement
resources expended losses in funds
E E
Unrestricted funds
General fund 417,151 (495,629) (1,087,899) (1,166,377)
TOTAL FUNDS 417,151 (495,629) (1,087,899} (1,166,377)

Compa ratives for movement
in fun		 ds
Net
At movement At
1.10.20 in funds 30.9,21
Unrestricted funds
General fund 14,?79,050 2,203,595 16,982,645
TOTAL FUNDS 14,779,050 2,203,595 16,982,645
Compar ative net movement
in f		 unds,
included
in the ab		 ove are as foll ows:
Incoming Resources Gains and Movement
resources
E		 expended
f		 losses in funds
Unrestricted funds
General fund 452,420 (467,866} 2,219,041 2,203,595
TOTAL FUNDS 452,420 (467,866) 2,219,041 2,203,595

A curren t yea r 12 months
and prior ye		 ar 12 months
combined
position		 is as follows:
Net
At movement At
l.10.20 in funds 30.9.22
Unrestricted funds
General fund 14,779,050 1,037,218 15,816,268
TOTAL FUNDS 14,779,050 1,037,218 15,816,268
Incoming Resources Gains and iviovement
resources exp encl eel losses in funds
E E E
Unrestricted funds
General fund 869,571 (963,495) 1,131,142 1,037,218
TOTAL FUNDS 869,571 (963,495) 1,131,142 1,037,218