| Page | ||||
|---|---|---|---|---|
| Reference and Administrative Details |
||||
| Report ofthe Trustees | 2 | to | 8 | |
| Statement ofTrustees' | Responsibilities | |||
| Report ofthe Independent Auditors |
10 | to | 13 | |
| Statement of Financia | IActivities | 14 | ||
| Balance Sheet | 15 | |||
| Cash Flow Statement | 16 | |||
| Notes to the Cash Flow Statement | 17 | |||
| Notes to the Financial | Statements | 18 | to | 27 |
| TRUSTEES | J P Fell (Chairman) | |||||
|---|---|---|---|---|---|---|
| S G Orlik | ||||||
| M A Petetin (resigned | 29.10.22) | |||||
| N M Gower-Smith | (resigned 28.2.23) | |||||
| A V Scanlan | ||||||
| R A V Edmondson | (deceased 30.5.22) | |||||
| S P Curran | ||||||
| KSGolding | ||||||
| N Snook | ||||||
| M A G Cooper (appointed | 28.2.23) | |||||
| J Donovan (appointed |
9.5.23) | |||||
| J L Merton (appointed | 28.2.23) | |||||
| COMPANY SECRETARY | SStocker | |||||
| REGISTERED OFFICE | Suffolk House | |||||
| George Street | ||||||
| Croydon | ||||||
| Surrey | ||||||
| CRO OYN | ||||||
| REGISTERED COMPANY NUMBER | 07170030(England | and | Wales) | |||
| REGISTERED CHARITY NUMBER | 1135646 | |||||
| INDEPENDENT AUDITORS | Simpson Wreford | 5 Partners | ||||
| Chartered Accountants |
R Statutory | Auditors | ||||
| Suffolk House | ||||||
| George Street | ||||||
| Croydon | ||||||
| Surrey | ||||||
| CRO OYN | ||||||
| TREASURER | I Venters | |||||
| INVESTMENT ADVISORS | Quilters Cheviot Limited | |||||
| Senator House | ||||||
| 85 Queen Victoria | Street | |||||
| London | ||||||
| EC4V 4AB |
| 31.3.23 | 31.3.22 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | f | f | f | f | |||
| INCOME AND ENDOWMENTS | FROM | ||||||
| Donations and legacies |
28,045 | 95,066 | 123,111 | 285,612 | |||
| Investment income |
131,584 | 164,205 | 295,789 | 267,804 | |||
| Total | 159,629 | 259,271 | 418,900 | 553,416 | |||
| EXPENDITURE ON | |||||||
| Charitable activities |
|||||||
| General | 178,872 | 763 | 179,635 | 170,074 | |||
| Maintenance Grants |
318,653 | 318,653 | 235,888 | ||||
| Robert Freeman Master's |
Fund | 5,493 | 5,493 | 5,607 | |||
| Total | 178,872 | 324,909 | 503,781 | 411,569 | |||
| Net gains/(losses) on investments |
(378,036) | (386,344) | (764,380) | 864,462 | |||
| NET INCOME/(EXPENDITURE) | (397,279) | (451,982) | (849,261) | 1,006,309 | |||
| RECONCILIATION OF FUNDS |
|||||||
| Total funds brought forward | 4,371,879 | 5,354,899 | 9,726,778 | 8,720,469 | |||
| TOTAL FUNDS CARRIED FORWARD | 3,974,600 | 4,902,917 | 8,877,917 | 9,726,778 |
| 31st | March 2023 | ||||||
|---|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||||
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | funds | funds | ||||
| Notes | f | f | f | F | |||
| FIXEDASSETS | |||||||
| Tangible assets | 11 | 22,946 | 22,946 | 23,346 | |||
| investments | 12 | 3,733,063 | 4,464,109 | 8,197,172 | 9,152,945 | ||
| 3,733,063 | 4,487,055 | 8,220,118 | 9,176,291 | ||||
| CURRENT ASSETS | |||||||
| Cash at bank | 244,537 | 422,685 | 667,222 | 558,265 | |||
| CREDITORS | |||||||
| Amounts falling due within |
one year | 13 | (3,000) | (6,823) | (9,823) | (7,778) | |
| NET CURRENT ASSETS | 241,537 | 415,862 | 657,399 | 550,487 | |||
| TOTAL ASSETS LESSCURRENT LIABILITIES | 3,974,600 | 4,902,917 | 8,877,517 | 9,726,778 | |||
| NET ASSETS | 3,974,600 | 4,902,917 | 8,877,517 | 9,726,778 | |||
| FUNDS | 14 | ||||||
| Unrestricted funds: |
|||||||
| General fund |
3,974,600 | 4,371,879 | |||||
| Restricted funds: | |||||||
| Robert Freeman | Master's | Fund | 147,872 | 163,343 | |||
| Welfare Fund |
4,755,045 | 5,191,556 | |||||
| 4,902,917 | 5,354,899 | ||||||
| TOTAL FUNDS | 8,877,517 | 9,726,778 |
| Cash Flow Statement | ||||||
|---|---|---|---|---|---|---|
| for the | year ended 31st March | 2023 | ||||
| 31.3.23 | 31.3.22 | |||||
| Notes | E | E | ||||
| Cash flows from operating | activities | |||||
| Cash generated from operations |
(378,226) | (122,442) | ||||
| Net cash used in operating | activities | (378,226) | (122,442) | |||
| Cash flows from investing | activities | |||||
| Purchase offixed asset investments | (874,014) | (779,698) | ||||
| Sale of fixed asset investments | 1,065,408 | 423,307 | ||||
| Dividends received |
295,789 | 267,804 | ||||
| Net cash provided by/(used |
in) investing | activities | 487,183 | (88,587) | ||
| Change in cash and cash equivalents |
in the | |||||
| reporting period |
108,957 | (211,029) | ||||
| Cash and cash equivalents | at the beginning | |||||
| ofthe reporting period |
558,265 | 769,294 | ||||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
667,222 | 558,265 |
| RECONCILIATION OF |
NET (E | XPENDITURE)/IN | COME TO NET CASH FLOW |
FROM OPERATING ACT | IVITIES |
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| f | f | ||||
| Net (expenditure)/income | for the reporting | period (as per the | |||
| Statement of Financial Activities) | (849,261) | 1,006,309 | |||
| Adjustments for: |
|||||
| Depreciation charges |
400 | 400 | |||
| Losses/(gain) on investments |
764,380 | (864,462) | |||
| Dividends received |
(295,789) | (267,804) | |||
| Decrease in debtors |
5,378 | ||||
| Increase/(decrease) | in creditors | 2,044 | (2,263) | ||
| Net cash used in operations | (378,2261 | (122,442) |
| At 1.4.22 | Cash flow | At 31.3.23 | |
|---|---|---|---|
| f | f | f | |
| Net cash | |||
| Cash at bank | 558,265 | 108,957 | 667,222 |
| 558,265 | 108,957 | 667,222 | |
| Total | 558,265 | 108,957 | 667,222 |
| Incoming | Resources | 31.3.23 | 31,3.22 | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | Funds | |||
| f | E | E | E | |||
| Voluntary | income | |||||
| Donations | 28,045 | 95,066 | 123,111 | 157,036 | ||
| Legacies | 128,576 | |||||
| Donations | and legacies | 28,045 | 95,066 | 123,111 | 285,612 | |
| Investment | income | |||||
| Dividends | and interest | 131,584 | 159,019 | 290,603 | 262,979 | |
| Robert Freeman Master's |
Fund dividends | 5,186 | 5,186 | 4,825 | ||
| Total income | 159,629 | 259,271 | 418,900 | 553,416 | ||
| INVESTMENT INCOME | ||||||
| 31.3.23 | 31.3.22 | |||||
| E | E | |||||
| Investment | income | 295,789 | 267,804 |
| Charitable activities |
31.3.23 | 31.3.22 | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| Fund | Fund | Funds | Funds | ||||
| E | E | E | E | ||||
| Grants and donations | |||||||
| Pembroke Music g. Dance projects |
30,000 | 30,000 | 30,000 | ||||
| Arundel Castle Cricket Foundation |
10,000 | 10,000 | 10,000 | ||||
| Guildhall School of Music |
awards | 20,000 | 20,000 | 20,000 | |||
| Riding and Carriage Driving |
For the Disabled | ||||||
| Barrow Farm | 10,000 | 10,000 | 10,000 | ||||
| Sheriffs' and Recorder's |
Fund | 10,000 | 10,000 | 10,000 | |||
| Royal British Legion | 500 | 500 | 500 | ||||
| Corporation ofthe Sons |
of | the Clergy | 500 | 500 | 500 | ||
| The London Regiment Welfare Fund |
2,500 | ||||||
| St Lawrence Jewry | 1,000 | 1,000 | 1,000 | ||||
| Physics Partners | 10,000 | 10,000 | 10,000 | ||||
| ABFThe Soldiers' Charity | 1,000 | 1,000 | 1,000 | ||||
| Bobath Centre | 12,000 | 12,000 | 12,000 | ||||
| Mark Evison Foundation | 10,000 | 10,000 | 10,000 | ||||
| St. Paul's Cathedral Foundation |
1,000 | 1,000 | 1,000 | ||||
| Katherine Low Settlement |
5,000 | 5,000 | 5,000 | ||||
| Spitalfields Crypt Trust |
11,000 | 11,000 | 11,000 | ||||
| Barrier Breakers Foundation | 6,320 | 6,320 | 5,000 | ||||
| Small donations | 1,000 | ||||||
| Kids Space | 1,000 | 1,000 | |||||
| CHCD Charitable Trust (Magical Taxi Tour Disney) |
1,500 | 1,500 | |||||
| Build Up Foundation | 6,250 | 6,250 | |||||
| Irish Guards Benevolent |
Fund | 2,500 | 2,500 | ||||
| Welfare fund | |||||||
| Maintenance grants |
64,600 | 64,600 | 24,150 | ||||
| Pensions and general relief |
73,500 | 73,500 | 41,625 | ||||
| One off Grants | 33,088 | 33,088 | 25,777 | ||||
| Welfare Assistance | 30,863 | 30,863 | 24,560 | ||||
| TV Rentals and Licences | 13,174 | 13,174 | 6,126 | ||||
| Christmas and Birthday |
Gifts | 22,163 | 22,163 | 25,345 | |||
| Building insurance relief |
540 | 540 | 704 | ||||
| Deprecation of Buildings |
400 | 400 | 400 | ||||
| House Insurance | 364 | 364 | 251 | ||||
| Robert Freeman Master's |
Fund | ||||||
| Master's charitable donations |
4,750 | 4,750 | 4,750 | ||||
| 149,570 | 243,442 | 393,012 | 291,188 |
| 31.3.23 | 31.3.22 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||||
| Fund | Fund | Funds | Funds | |||||||
| f | f | f | ||||||||
| Grants and | donations | 149,570 | 243,442 | 393,012 | 291,188 | |||||
| Support costs | and governance | |||||||||
| Auditors' remuneration |
3,600 | 3,600 | 7,200 | 6,000 | ||||||
| Investment | management | fees | 19,476 | 23,218 | 42,694 | 44,625 | ||||
| Trustees' indemnity |
insurance | 663 | 663 | 651 | ||||||
| Administration | fees | 5,040 | 47,040 | 52,080 | 50,400 | |||||
| Office costs | and bank charges | 523 | 4,608 | 5,131 | 14,357 | |||||
| Sundries | 3,001 | 3,001 | 4,349 | |||||||
| 29,302 | 81,467 | 110,769 | 120,382 | |||||||
| Total | 178,872 | 324,909 | 503,781 | 411,589 | ||||||
| GRANTS PAYABLE | ||||||||||
| 31.3.23 | 31.3.22 | |||||||||
| f | f | |||||||||
| General | 149,570 | 140,500 | ||||||||
| Maintenance | Grants | 237,928 | 145,287 | |||||||
| Robert Freeman Master's | Fund | 4,750 | 4,750 | |||||||
| 392,248 | 290,537 | |||||||||
| SUPPORT COSTS | ||||||||||
| Governance | ||||||||||
| Management | Finance | Other | costs | Totals | ||||||
| f | f | f | f | f | ||||||
| General | 5,046 | 517 | 20,139 | 3,600 | 29,302 | |||||
| Maintenance | Grants | 54,520 | 129 | 22,475 | 3,600 | 80,724 | ||||
| Robert Freeman Master' s | ||||||||||
| Fund | 743 | 743 | ||||||||
| 59,566 | 646 | 43,357 | 7,200 | 110,769 |
| Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| E | E | E | ||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies | 26,691 | 258,921 | 285,612 | |||
| Investment income |
118,402 | 149,402 | 267,804 | |||
| Total | 145,093 | 408,323 | 553,416 | |||
| EXPENDITURE ON | ||||||
| Charitable activities |
||||||
| General | 170,074 | 170,074 | ||||
| Maintenance Grants |
235,888 | 235,888 | ||||
| Robert Freeman Master's |
Fund | 5,607 | 5,607 | |||
| Total | 170,074 | 241,495 | 411,569 | |||
| Net gains on investments | 429,161 | 435,301 | 864,462 | |||
| NET INCOME | 404,180 | 602,129 | 1,006,309 | |||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought |
forward | 3,967,699 | 4,752,770 | 8,720,469 |
| 10. | COMPARATIVES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| f | f | f | |||
| TOTAL FUNDS CARRIED FORWARD | 4,371,879 | 6,364,899 | 9,726,778 | ||
| 11. | TANGIBLE FIXED | ASSETS | |||
| Freehold | |||||
| property | |||||
| f | |||||
| COST | |||||
| At 1st April 2022 | and 31st March 2023 | 40,178 | |||
| DEPRECIATION | |||||
| At 1st April 2022 | 16,832 | ||||
| Charge for year | 400 | ||||
| At 31st March 2023 | 17,232 | ||||
| NET BOOK VALUE | |||||
| At 31st March 2023 | 22,946 | ||||
| At 31st March 2022 | 23,346 | ||||
| 12. | FIXEDASSET INVESTMENTS | ||||
| Listed | |||||
| investments | |||||
| f | |||||
| MARKET VALUE | |||||
| At 1st April 2022 | 9,152,945 | ||||
| Additions | 874,014 | ||||
| Disposals | (1,196,866) | ||||
| Revaluations | (632,921) | ||||
| At 31st March 2023 | 8,197,172 | ||||
| NET BOOK VALUE | |||||
| At 31st March 2023 | 8,197,172 | ||||
| At 31st March 2022 | 9,152,945 |
| Listed | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| investments | |||||||||
| f | |||||||||
| Valuation in 2023 |
2,435,368 | ||||||||
| Cost | 5,761,804 | ||||||||
| 8,197,172 | |||||||||
| Revaluations | 31,3.23 | 31.3.22 | |||||||
| f | E | ||||||||
| Realised (losses) | /gains | (131,459) | 59,175 | ||||||
| Unrealised (losses) / gains |
(632,921) | 805,287 | |||||||
| 764,380 | 864,462 | ||||||||
| CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||||||||
| 31.3.23 | 31.3.22 | ||||||||
| f | f | ||||||||
| Trade creditors | 3,223 | 1,778 | |||||||
| Accruals and | deferred | income | 6,600 | 6,000 | |||||
| 9,823 | 7,778 | ||||||||
| MOVEMENT | IN | FUNDS | |||||||
| Net | |||||||||
| movement | At | ||||||||
| At 1.4.22 | in funds | 31.3.23 | |||||||
| f | f | f | |||||||
| Unrestricted | funds | ||||||||
| General fund | 4,371,879 | (397,279) | 3,974,600 | ||||||
| Restricted funds | |||||||||
| Robert Freeman | Master's | Fund | 163,343 | (15,471) | 147,872 | ||||
| Welfare Fund | 5,191,556 | (436,511) | 4,755,045 | ||||||
| 5,354,899 | (451,982) | 4,902,917 | |||||||
| TOTAL FUNDS | 9,726,778 | (849,261) | 8,877,517 |
| Incoming | Resources | Gains and | Movement | |||||
|---|---|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||||
| f | f | f | f | |||||
| Unrestricted | funds | |||||||
| General | fund | 159,629 | (178,872) | (378,036) | (397,279) | |||
| Restricted funds | ||||||||
| Robert | Freeman Master's | Fund | 5,186 | (5,492) | (15,165) | (15,471) | ||
| Welfare | Fund | 254,085 | (319,417) | (371,179) | (436,511) | |||
| 259,271 | (324,909) | (386,344) | (451,982) | |||||
| TOTAL | FUNDS | 418,900 | (503,781) | (764,380) | (849,261) | |||
| Comparatives | for movement | in funds | ||||||
| Net | ||||||||
| movement | At | |||||||
| At 1.4.21 | in funds | 31.3.22 | ||||||
| f | f | |||||||
| Unrestricted | funds | |||||||
| General | fund | 3,967,699 | 404,180 | 4,371,879 | ||||
| Restricted funds | ||||||||
| Robert | Freeman Master's | Fund | 164,034 | (691) | 163,343 | |||
| Welfare | Fund | 4,588,736 | 602,820 | 5,191,556 | ||||
| 4,752,770 | 602,129 | 5,354,899 | ||||||
| TOTAL | FUNDS | 8,720,469 | 1,006,309 | 9,726,778 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| f | f | f | f | |||
| Unrestricted | funds | |||||
| General fund | 145,093 | (170,074) | 429,161 | 404,180 | ||
| Restricted funds | ||||||
| Robert Freeman Master's | Fund | 4,825 | (5,607) | 91 | (691) | |
| Welfare Fund | 403,498 | (235,888) | 435,210 | 602,820 | ||
| 408,323 | (241,495) | 435,301 | 602,129 | |||
| TOTAL FUNDS | 553,416 | (411,569) | 864,462 | 1,006,309 |