2022-12-31-accounts - The Serth And Gates Charity

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			Page
Report ofthe Trustees			1to3
Report ofthe Independent Auditors			4to5
Statement of Financial	Activities
Statement of Financial	Position
Notes to the Financial	Statements		8to 14
Detailed Statement of	Financial	Activities	15

Principal address
c/o Wedlake Bell LLP
71Queen Victoria Street
London
EC4V 4AY
Trustees
TWest
J A Cutts
Auditors
Villars Hayward	LLP
Chartered Accountants,
Chartered Tax Advisers		and Statutory	Auditors
Boston House
Henley-on-Thames
RG9 1DY
Lawyers
Wedlake Bell LLP
71Queen Victoria Street
London
EC4V 4AY
Bankers
National Westminster		Bank Pic
PO Box No. 159
322 High Holborn
London
WC1V 7PS
Investment Managers
Brewin Dolphin
12Smithfield Street
London
EC1A9BD
STATEMENT OF	TRUSTEES RESPONSIBILITIES

					31.12.22	31.12.21
					Unrestricted	Total
					funds	funds
				Note	f	f
INCOME AND	ENDOWMENTS		FROM:
Investment income					352,805	335,284
EXPENDITURE	ON:
Raising funds
Investment management		costs			60,209	61,727
Charitable activities
Donations					232,500	487,200
Other					55,788	39,677
Total					348,497	588,604
Net (loss)/gain	on investments				(1,492,702)	1,314,038
NET (DEFICIT)/SURPLUS					(1,488,394)	1,060,718
RECONCILIATION OF FUNDS
Total funds brought forward					12,291,669	11,230,951
TOTAL FUNDS	CARRIED	FORWARD			10,803,275	12,291,669

			The Serth and Gates Charit
			Statement of Financial Position
			as at
			31December 2022
				31.12.22	31.12.21
			Note
FIXED ASSETS
Investments				10,414,006	11,878,638
CURRENT ASSETS
Cash at bank				353,356	437,008
Wedlake Bell	LLP client account			201,839	327,973
				555,195	764,981
CREDITORS
Amounts falling due		within one year		(118,526)	(227,950)
NET CURRENT ASSETS				436,669	537,031
TOTAL ASSETS LESSCURRENT LIABILITIES				10,850,675	12,415,669
CREDITORS
Amounts falling due		after more than one year		(47,400)	(124,000)
NET ASSETS				10,803,275	12,291,669
FUNDS
Unrestricted	funds:
Income Fund				354,804	262,393
Designated Capital		Fund		10,448,471	12,029,276
TOTAL FUNDS				10,803,275	12,291,669

INVESTMENT INCOME			31.12,22	31.12.21
			Unrestricted	Total
			funds	funds
Cash investments			1,396	22
Investment income			351,409	335,262
			352,805	335,284
INVESTMENT MANAGEMENT		COSTS
			31.12.22	31.12.21
			Unrestricted	Total
			funds	funds
Portfolio management			60,209	61,727
CHARITABLE ACTIVITIES
Donations			31.12.22	31.12.21
				f
Funding committed not yet paid brought forward at 1January 2022
The Horse Trust			(141,000)	(25,992)
University ofGlasgow			(60,000)
Blue Cross			(15,000)	(12,000)
Dogs Trust			(15,000)	(12,000)
Greatwood			(15,000)	(15,000)
Hearing Dogs for Deaf People			(15,000)	(12,000)
PDSA			(15,000)	(12,000)
SPANA			(15,000)	(15,000)
The Brooke Hospital for Animals			(15,000)	(15,000)
Battersea Dogs and Cats	Home		(10,000)
Dogs for Good			(10,000)	(10,000)
Ufton Court Educational	Trust		(2,700)	(3,000)
Cherington PCC			(1,500)	(1,500)
Friends of Mann Cottage	Surgery		(1,500)	(1,500)
Guiting Festival			(1,500)	(750)
Longborough Festival Opera			(1,500)	(1,500)
Shipston Home Nursing			(1,500)	(1,250)
The Carice Singers			(1,500)	(500)
Henley Music School				(2,000)
The Chiltern Centre				(1,000)
The Rivertime Boat Trust				(1,000)
Total Funding committed	not	yet paid at1 January 2022	(337,700)	(142,992)
Note continued on page	10

CHARITABLE ACTIVITIES	(continued)
Donations			31.12.22	31.12.21
			E	f
Donations paid during the year
University ofSurrey			50,500	49,000
The Horse Trust			47,000	25,992
University of Bristol			45,000	71,500
Battersea Dogs and Cats	Home		35,200
University ofGlasgow			30,000	30,000
Greatwood			30,000	15,000
Society of Protection ofAnimals Abroad		(SPANA)	30,000	15,000
Blue Cross			30,000	12,000
The People's Dispensary	for Sick Animals	(PDSA)	30,000	12,000
Dogs For Good			30,000	10,000
NationalAnimal Welfare	Trust		20,000
Hearing Dogs for the Deaf			15,000	12,000
Dogs Trust			15,000	12,000
Four Paws			10,000
Ufton Court Educational	Trust		2,700	3,000
Longborough Festival Opera			1,500	1,500
Friends of Mann Cottage	Surgery		1,500	1,500
Cherington PCC			1,500	1,500
Shipston Home Nursing			1,500	1,250
Guiting Festival			1,500	750
The Carice Singers			1,500	500
Acorns			1,000
The Brooke Hospital for	Animals			15,000
Rivertime Boat Trust				2,000
The Chiltern Centre				1,000
Total donations paid during the year			430,400	292,492
Funding committed not	yet paid carried	forward at 31December 2022
The Horse Trust			94,800	141,000
University ofGlasgow			30,000	60,000
Dogs Trust			15,000	15,000
Cherington PCC				1,500
Friends of Mann Cottage Surgery				1,500
Guiting Festival				1,500
Longborough Festival Opera				1,500
Shipston Home Nursing				1,500
The Carice Singers				1,500
Ufton Court Educational	Trust			2,700
Blue Cross				15,000
Greatwood				15,000
Hearing Dogs for Deaf People				15,000
PDSA				15,000
SPANA				15,000
The Brooke Hospital for	Animals			15,000
Battersea Dogs and Cats Home				10,000
Dogs for Good				10,000
Total Funding committed not yet paid			139,800	337,700
Total Donations			232,500	487,200

Professional	fees	and charges			31.12.22	31.12.21
						E
Legalfees					40,966	23,847
Independent	auditor's fee - audit				9,091	8,658
Independent	auditor's fee —other services				5,806	5,500
Under / (over) accrued fees -			audit		(147)	1,595
Other - Bank	charges				72	77
					55,788	39,677
Split as follows:		- Income Fund			27,894	19,839
		- Designated	Capital	Fund	27,894	19,838
					55,788	39,677

FIXEDASSET INVESTMENTS
	Listed
	investments
MARKET VALUE
At 1January 2022	11,878,638
Additions	2,140,566
Disposals	(2,112,496)
Revaluations	(1,492,702)
At 31December 2022	10,414,006
NET BOOK VALUE
At 31December 2022	10,414,006
At 31December 2021	11,878,638

					31.12.22	31.12.21
Funding committed	not	yet paid (see analysis below)			92,400	213,700
Creditors and accruals					26,126	14,250
					118,526	227,950
Analysis offunding	committed		not yet paid
The Horse Trust					47,400	47,000
University ofGlasgow					30,000	30,000
Dogs Trust					15,000	15,000
Cherington PCC						1,500
Friends of Mann Cottage		Surgery				1,500
Guiting Festival						1,500
Longborough Festival Opera						1,500
Shipston Home Nursing						1,500
The Carice Singers						1,500
Ufton Court Educational		Trust				2,700
Blue Cross						15,000
Greatwood						15,000
Hearing Dogs for Deaf People						15,000
PDSA						15,000
SPANA						15,000
The Brooke Hospital	for	Animals				15,000
Battersea Dogs and	Cats	Home				10,000
Dogs for Good						10,000
					92,400	213,700
CREDITORS: AMOUNTS		FALLING DUE AFTER MORE THAN ONE YEAR
					31.12.22	31.12.21
Analysis offunding	committed		not yet paid
The Horse Trust					47,400	94,000
University ofGlasgow						30,000
					47,400	124,000
MOVEMENT IN FUNDS
					Designated
				Income	Capital
				fund	fund	Total
						E
Total funds brought	forward at 1.1.22			262,393	12,029,276	12,291,669
Incoming resources				352,805		352,805
Resources expended
- Investment management			costs		(60,209)	(60,209)
- Donations				(232,500)		(232,500)
-Other				(27,894)	(27,894)	(55,788)
Gain/(Loss) on investments					(1,492,702)	(1,492,702)
Total funds carried forward at31.12.22				354,804	10,448,471	10,803,275
Movement in funds	in year			92,411	(1,580,805)	(1,488,394)

								31.12.22	31.12.21
									E
Financial	assets at fair value		through	Statement		of Financial Activities
Investments								10,414,006	11,878,638
Financial	assets that are debt instruments				measured		at amortised	cost
Cash at bank								353,356	437,008
Financial	liabilities	measured	at amortised		cost
Creditors	&1year							(118,526)	(227,950)
Creditors	&1year							(47,400)	(124,000)
The fair	values ofthe assets held at fair value through						Statement of	Financial Activities at the Balance Sheet date are
determined using		quoted prices.

The following	The following	bursaries	of Bristol, Glasgow and Surrey respectively.
University	of	Bristol
~Academic	ear
2012/13			46,875
2013/14			45,465
2014/15			55,000
2015/16			31,000
2016/17			60,000
2017/18			64,000
2018/19			54,000
2019/20			7,000
2020/21			27,000
2021/22			44,000
2022/23			45,000
			479,340
University	ofGlasgow
A~cad mic	ear		E
2012/13			40,000
2013/14			50,000
2014/15			63,000
2015/16			61,000
2016/17			47,000
			261,000
University	ofSurrey
~Acad mic	ear		E
2018/19			7,000
2019/20			7,000
2020/21			18,000
2021/22			49,000
2022/23			50,500
			131,500
Total bursaries		awarded	871,840

			—Unrestricted	—Unrestricted	funds--	funds--
			Income	Fund	Designated		Total funds	Prior period total
					Capital	Fund		funds
			f		f			E
INCOME AND ENDOWMENTS		FROM
Cash investments				1,396			1,396	22
Investment income			351,389				351,389	335,262
Sundry income				20			20
Total incoming resources			352,805				352,805	335,284
EXPENDITURE ON
Investment management	costs
Portfolio management						60,209	60,209	61,727
Charitable activities
Donations			232,500				232,500	487,200
Support costs
Finance
Bank charges				36		36	72	77
Governance costs
Accountancy and legal	fees			27,858		27,858	55,716	39,600
Total resources expended			260,394			88,103	348,497	588,604
Net income/(expenditure)	before gains and losses			92,411	(88,103)		4,308	(253,320)
Net gains on investments					(1,492,702)		(1,492,702)	1,314,038
Impairment ofassets to fair value
Net income/(expenditure)				92,411	(1,580,805)		(1,488,394)	1,060,718