|Contents ofthe Financial|Statements| |---|---| |Report ofthe Trustees|| |Report ofthe Independent|Auditors| |Statement ofFinancial Activities|| |Balance Sheet|| |Statement ofCash Flows|| |Notes to the Financial
Statements|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Notes|2023|2022| |---|---|---|---|---|---| |INCOME A EXPENDITURE|||||| |Income|||||| |Investment
income||||514,127|362,519| |Total income||||514,127|362,519| |Expenditure:|||||| |Charitable
activities||||174,037|246,000| |Other support (income)/costs||||(5,377)|(6,835)| |Total resources
expended||||168,660|239,165| |Net income and net movement|||||| |in funds before gains on investments||||345,467|123,354| |Unrealised
(loss) / gain on investment||assets|6|(423,545)|176,174| |Realised gain on investment|assets||6|389|65,565| |Net movement
in funds|||10|(77,689)|365,093| |Total funds brought
forward|||10|5,918,153|5,553,060| |Total funds carried forward|||10|E5,840,464|K5,918,153| |BALANCE SHEE|T AS|AT 5r" APRIL 2023||| |---|---|---|---|---| |||Notes|2023|2022| |FIXEDASSETS||||| |Listed Investments|at market value||6,009,547|4,479,006| |CURRENT ASSETS||||| |Debtors|||76,836|31,104| |Cash at bank|||1,864,081|3,523,163| ||||1,940,917|3,554,267| |CREDITORS: Amounts||falling due||| |within one year|||(10,000)|(15,120)| |NET CURRENT|ASSETS||1,930,917|3,539,147| |TOTAL ASSETS|LESS|CURRENT LIABILITIES|7,940,464|8,018,153| |CREDITORS: Amounts||falling due||| |after one year|||(2,100,000)|(2,100,000)| |TOTAL NKT ASSETS|||K5,840,464|K5,918,153| |Funds ofthe Foundation,||divided into:||| |Unrestricted
funds||10|5,840,464|5,918,153| |TOTAL CHARITY FUNDS|||K5,840,464|E5,918,153| ## |STATEMENT Ol CASH FLOWS FOR|STATEMENT Ol CASH FLOWS FOR|THK YEAR ENDED 5T" APRIL 2023|THK YEAR ENDED 5T" APRIL 2023|| |---|---|---|---|---| |||Notes|2023|2022| |NKT MOVEMENT IN FUNDS|||(77)689)|365,093| |Adjustments
for:||||| |(Increase)/decrease
in debtors|||(45,732)|3,003| |Change in fair value ofinvestments|||423,156|(241,739)| |Decrease in creditors|||(5,120)|5,520| |Net cash generated
from|operating|||| |activities|||294,615|131,877| |Cash flows from investing|activities|||| |Purchase ofinvestments|||(2,215,796)|| |Disposal ofinvestments|||262,099|255,425| |Net cash used in investing|activities||(1,953,697)|255,425| |Net increase/(decrease)
in cash and||||| |cash equivalents|||(1,659,082)|387,302| |Cash and cash equivalents|at the|||| |beginning ofthe year|||3,523,163|3,135,861| |Cash and cash equivalents|at the|||| |end ofthe year|||1,864,081|3,523,163| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||2023|2022| |---|---|---|---| |Dividends|and interest receivable from listed investments|509,994|362,519| |Bank interest received||4,133|| |||6514,127|F362,519| ## ## |4.|GRANTS AND DONATIO|NS
PAY|ABLK||||| |---|---|---|---|---|---|---|---| |||||||2023|2022| ||Grant funding
activities (Grants and donations)|||||E174,037|6246,000| ||The total grants paid to institutions||during the year were as follows:||||| |||||||2023|2022| ||Cherry Trees|||||10,000|| ||Empire Fighting Chance|||||5,500|| ||Help 2Read|||||5,000|5,000| ||Home-Start
Richmond,|Kingston|&Hounslow|||1,000|| ||Les Amis Limited|||||10,000|| ||Oakleaf Enterprise|||||25,000|| ||ReGenerate|||||5,000|| ||Spark Somerset|||||37,537|| ||Arthouse
Unlimited||||||50,000| ||Frome Medical Practice||||||25,000| ||London Cares Family||||||4,000| ||Phyllis Tuckwell Hospice||||||1,000| ||Sports Traider||||||15,000| ||StGeorges Crypt||||||50,000| ||Surrey Drug &Alcohol|Care|||||10,000| ||The Cares Family Limited||||||11,000| ||The Kensington
and Chelsea Foundation|||||75,000|75,000| |||||||E174,037|6246,000| |5.|OTHER (SUPPORT COSTS)||||||| |||||||2023|2022| ||Other resources expended||||||| ||Finance costs|||||2,639|3,085| ||Foreign exchange (gain)|/ loss||||(12,856)|(15,440)| ||Governance
costs||||||| ||Auditors'
remuneration|(inclusive|ofVAT) —current year|||2,500|2,580| ||Accountancy
fees (inclusive ofVAT) —current year|||||2,500|2,580| ||Auditors'
remuneration|(inclusive|ofVAT) —prior year additional||fee|(80)|180| ||Accountancy
fees (inclusive ofVAT) —prior year additional|||fee||(80)|180| |||||||K(5,377)|K(6,835)| ## ## ||||Cost|Fair value| |---|---|---|---|---| |At 6'" April 2022|||64,291,879|64,479,006| |Additions|||2,215,796|2,215,796| |Disposals|||(261,710)|(262,099)| |Realised gain||||389| |Unrealised
gain||||(423,545)| |At 5"' April 2023|||5.6,245,965|E6,009,547| |D~eecri lion||H~doldin|Cost|Fair Value| |||||At| |||||~5eA ril| |||||2023| |UK Fixed Interest||||| |Co-Operative
Group 11%Gtd Sub 20/12/2025 GBP||527,500|740,877|570,199| |Bristol &West 8.125%PrfGBP1||100,000|98,885|110,500| |Ecclesiast Ins Off8,625%Non|Cum IRRPrf GBP|188,000|191,760|245,340| |REA Hldgs 9%Cum PrfGBP1||1,280,000|1,314,976|1,152,000| |Raven Russia GBP0.01Prf Shs||104,459|135,983|| |New City High Yield Fund Ordinary||1,750,000|895,292|851,375| |Tesco Property Fin. 1Plc 7.6227% Gtd 13/07/39 GBP||250,000|208,826|288,741| |Scottish Widows Ltd 7% Sub Nts 16/06/2043 GBP||200,000|199,735|210,869| |Marks & Spencer Plc 4.5%SNR EMTN 10/07/2027||500,000|441,458|466,007| |Morrison (WM,) Supermarkets|3.5%GTD SNR EMTN|||| |27/07/2026||500,000|371,171|387,287| |Bank ofIreland Group Plc 13.375%SUBBUSPERP||||| |GBP100||500,000|838,436|894,656| |Chesnara Plc 4.75%LT2 NTS 04/08/2032||||| |GBP100000'REGS||500,000|372,445|368,786| |Enquest Plc 9%GTD SNR NTS 27/10/2027 GBP1||||| |'REGS'||200,000|192,286|209,762| |Overseas Fixed Interest||||| |Aggregated
Micr, 8%Nts 17/10/2036 GBP1||250,000|243,835|254,025| |At 5~ April 2023|||66,245,965|E6,009,547| |NOTES TO THE FINANCIAL|NOTES TO THE FINANCIAL|STATEMENTS|I'OR THE YEAR ENDED 5T"APRIL 2023|I'OR THE YEAR ENDED 5T"APRIL 2023|(Continued)| |---|---|---|---|---|---| |7.|DEBTORS||||| ||||2023||2022| ||Accrued income||F76,836||F31,104| |8.|CREDITORS: Amounts|falling due within|one year||| ||||2023||2022| ||Accruals and trade creditors||E10,000||615,120| |9.|CREDITORS: Amounts|falling due after|more than one year||| ||||2023||2022| ||Concessionary
loans||K2,100,000|E2,100,000|| |VE|MKNT IN|FUNDS|| |---|---|---|---| ||||General| ||||unrestricted| ||||fullc1s| |At|6"' April 2022||K5,918,153| |Net|movement|in funds in year|(77,689)| |As|at 5"' April|2023|E5,840,464| |||Incoming|Resources|Gains and|Movement
in| |---|---|---|---|---|---| |||resources|expended|losses|fllncls| |||E|||E| |Unrestricted|funds||||| |General fund||514,127|(168,660)|(423,156)|(77,689)| ## ## ## |ANALYSIS|OF CHANGES IN N|ET DEBT|||| |---|---|---|---|---|---| |||At 6April|Cash||At 5 April| |||2022|flows|Non-cash|2023| ||||K||| |Cash at bank|and in hand|3,523,163|(1,659,082)||1,864,081| |Concessionarv|Loans|(2,100,000)|||(2,100,000)| |||1„423„163|(1„659,082)||(235,919)|