##
##
##
|||Page|
|---|---|---|
|Trustees'
report||1-5|
|Statement oftrustees'|responsibilities||
|Independent
auditor's|report||
|Statement offinancial|activities|10|
|Balance sheet|||
|Statement ofcash flows||12|
|Notes to the financial|statements|13-26|
##
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##
##
|Reference|Reference|and Administrative|and Administrative|Details||||
|---|---|---|---|---|---|---|---|
|Company||number|||7442773|||
|Charity|number||||1139224|||
|Trustees|and Directors||||Diane Briere|de I'Isle-Engelhardt||
||||||Henry Engelhardt|||
||||||Louisa Scadden|||
||||||Damien
Engelhardt|||
||||||Adrian
Engelhardt|||
||||||Shanna
Briere de I'Isle Engelhardt|||
||||||Tara Briere de I'Isle Engelhardt|||
|Key management|||personnel||Rebecca Watkins - Foundation||Director|
|Auditor|||||Azets Audit Services|||
||||||Ty Derw|||
||||||Lime Tree Court|||
||||||Cardiff Gate Business Park|||
||||||Cardiff|||
||||||CF23 8AB|||
|Registered||Office|||C/0 Azets|||
||||||Ty Derw|||
||||||Lime Tree Court|||
||||||Cardiff Gate Business Park|||
||||||Cardiff|||
||||||CF23 8AB|||
|Bankers|||||Lloyds Bank|||
||||||4th Floor|||
||||||10Canons Way|||
||||||Harbourside|||
||||||Bristol|||
||||||BS15FL|||
|Solicitors|||||Withers
LLP|||
||||||16 Old Bailey|||
||||||London|||
||||||EC4M 7EG|||
|Investment||Providers|||Julius Baer|||
||||||1 St Martin's|Le Grand||
||||||London|||
||||||EC144AS|||
##
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##
##
##
|||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2022|2021|
||||||Note|f'|F|
||||||s|||
|Lnn;~mf~rm:||||||||
|Donations
and|legacies||||||47,700,000|
|Investments||||||32,218,673|29,629,124|
|Total income||||||32,218,673|77,329,124|
|Ex enditure on:||||||||
|Charitable
activities||||||20,961,863|18,189,161|
|Net gains/(losses)||on investments|||9|(124,754,000)|8,555,000|
|Net (outgoing)/incoming|||resources|||(113,497,190) 67,694,963||
|Other recognised||gains|and losses|||||
|Other gains or|losses||||10|93,839|(339,014)|
|Net movement|in|funds||||(113,403,351) 67,355,949||
|Fund balances|at 1 December 2021|||||485,391,364|418,035,415|
|Fund balances|at|30 November||2022||371,988,013|485,391,364|
##
##
##
|||||2022|2021|
|---|---|---|---|---|---|
||||Notes|||
|Fixed assets||||||
|Investments||||280,403,650|400,375,770|
|Current assets||||||
|Debtors|||13|216,250|216,250|
|Investments|||14|90,096,248|76,264,256|
|Cash at bank|and in|hand||1,866,412|8,954,601|
|||||92,178,910|85,435,107|
|Creditors: amounts||falling due within||||
|one year|||15|(594,547)|(419,513)|
|Net current assets||||91,584,363|85,015,594|
|Total assets|less current liabilities|||371,988,013|485,391,364|
|Income funds||||||
|Unrestricted|funds|||371,988,013|485,391,364|
|||||371,988,013|485,391,364|
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Notes||||
|Cash flows from operating||activities||||||
|Cash (absorbed
by)/generated||from||17||||
|operations||||||(20,692,990)|29,778,946|
|Investing
activities||||||||
|Purchase
of investments|||||||(47,700,000)|
|Investment
income received|||||32,218,673||29,629,124|
|Net cash generated
from/(used|||in)|||||
|investing
activities||||||32,218,673|(18,070,876)|
|Net cash used in financing||activities||||||
|Net increase
in cash and cash|||equivalents|||11,525,683|11,708,070|
|Cash and cash equivalents|at beginning|||ofyear||89,356,627|77,648,557|
|Cash and cash equivalents||at|end of|year||100,882,310|89,356,627|
|Relating to:||||||||
|Cash at bank and in hand||||||1,866,412|8,954,601|
|Short term deposits
included||in current||asset||||
|investments||||||90,096,248|76,264,256|
|Cash balances
held
in investment|||portfolio|||8,919,650|4,137,770|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Total|Unrestricted|
|---|---|---|---|
||||funds|
|||2022|2021|
||||F|
|Donated|shares||47 700 000|
##
|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2022|2021|
||||F|
|Dividend|income|31,327,000|29,393,000|
|Bank and|other interest received|891,673|236,124|
|||32,218,673|29,629,124|
##
##
##
##
|||2022|2021|
|---|---|---|---|
|Staff costs||69,950|59,819|
|Other costs||8,280|8,489|
|Governance|costs - audit fees|3,654|3,919|
|||81,884|72,227|
|Donations|(note 6)|20,879,979|18,116,934|
|||20,961,863|18,189,161|
##
##
|6|Donations||||
|---|---|---|---|---|
||||2022|2021|
||Children
&Young People||||
||Action for Children||35,000|50,000|
||Barnardo's||220,000|210,000|
||Canolfan
Plant Jig-So Children's|Centre|22,810||
||Children
ofthe Mekong||30,000||
||Clybiau
Plant Cymru
Kinds Club||25,000||
||Duke of Edinburgh
Award Scheme|||29,995|
||Eagle House Youth Development|CIC||59,000|
||Fishguard
and Goodwick Young|Persons Trist (POINT)|21,540||
||Home-Start
Cymru for Families|||274,781|
||Milford Youth Matters|||25,000|
||NSPCC||500,000|500,000|
||Pontypridd
YMCA|||150,000|
||Save the Children||295,312|291,883|
||Senghenydd
Youth Drop in Centre|||36,000|
||Starlight
Children's
Foundation|||40,000|
||Stephans
8 George Charitable
Trust||35,000|35,000|
||Swansea Art Music Digital||25,000|25,000|
||The Aloud Charity||35,000|35,000|
||Valley Kids|||137,000|
||Vine Youth||36,000|50,000|
||Youth Shedz Limited|||28,000|
||||1,280,662|1,976,659|
||Education||||
||Cadoxton
Primary School||45,000||
||College Bound (A Million Stars)||38,954|37,261|
||Empower-Be The Change||34,356||
||Hilltop Schools Inc|||111,668|
||INSEAD||107,450|115,303|
||Place2Be||160,580||
||Plan International
UK (Wales)||293,442||
||RESOLVEit CIO||160,000|151,500|
||Stay at School||30,000||
||Tape Community
Misic & Film||30,604||
||University
of Michigan||93,496|82,758|
||UWC Atlantic College||253,500|229,000|
||||1,247,382|727,490|
||Environment||||
||BBCStudios||999,777|1,000,713|
||Cynnal
Cymru - Sustain Wales||24,000|9,399|
||Earth Restoration
Alliance dba Global Choices||313,258|149,197|
||Giraffe Conservation
Foundation|($100,000)|83,986|73,443|
||Global Feedback Ltd||35,000||
##
##
|6|Donations||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||Greenpeace
UK|||||||500,000|150,000|
||Grow Cardiff|||||||35,637|29,873|
||International
Animal Rescue|||||||100,000||
||Manor Wildlife Park||||||||50,000|
||Mount Elgon Foundation|||||||30,000||
||National
Zoological Society|||ofWales|||||50,000|
||Oceana Inc|||||||250,000|250,000|
||Save the Children
Green||Climate|||Fund Ethiopia||116,667||
||Surfers Against Sewage|||||||100,000|30,000|
||The Orchard
Project|||||||92,697|88,456|
||The Wildlife Trust ofSouth|||and West Wales|||||50,000|
||The Woodland
Trust|||||||47,950||
||WWF - UK|||||||257,197|127,400|
|||||||||2,986,169|2,058,481|
||Health|||||||||
||Alzheimer's
Society||||||||59,000|
||AP Cymru - The Autism||Charity||||||41,452|
||Aspire|||||||32,000|31,081|
||Auditory
Verbal UK||||||||34,905|
||Brainstrust|||||||25,000||
||Brecon and District Mind||||||||40,000|
||Bridgend Carers Centre|||||||35,000|29,000|
||British Heart Foundation|||||||100,000|113,000|
||Centre ofSign-Sight-Sound||||||||29,727|
||Cerebra|||||||23,436||
||Cerebral Palsy Cymru|||||||97,275|72,151|
||Conwy
Mind|||||||26,182|42,987|
||Cruse Bereavement
Support||||Cymru|||53,065|61,686|
||Dementia
UK|||||||25,000|25,000|
||Elton John Aid Foundation|||(EJAF)||||50,000|50,000|
||Hospice ofthe Valleys|||||||39,100|28,040|
||Hywel Dda Health Charities|||-|Bronglas Chemo||Unit|300,000||
||Inspiring
Hope (Inspire|Merthyr)||||||25,000|25,000|
||KIM Inspire|||||||25,500|23,000|
||Macmillan
Cancer Support|||||||200,000|110,000|
||Maggie's Centre|||||||62,000|57,000|
||Mental
Health
Football|in Wales||||||25,000|14,130|
||Mid 8 North Powys Mind|||||||75,805|10,897|
||Mind Monmouthshire||||||||25,000|
||Mind Neath Port Talbot||||||||33,815|
||Moondance
Cancer Initiative|||||||1,445,000|746,000|
||Multiple Sclerosis Trust||||||||53,000|
||Nightingale
House Hospice|||||||25,000|28,749|
||North Wales Recovery|Communities|||||||21,840|
||PreventEd
(formally
NCADA)|||||||38,948|37,277|
||Ray of Light Wales Cancer|||Support|||||35,626|
||Recovery Cymru
Community||||||||23,892|
##
##
##
|||||||||
|---|---|---|---|---|---|---|---|
|Donations|||||||(Continued)|
|||||||2022|2021|
|Rowan Tree Cancer Centre||||||50,000|50,000|
|Royal Osteoporosis
Society||||||25,000|25,000|
|St David's Hospice Care (N Wales)|||||||39,078|
|StJohn Ambulance
Cymru||||||70,077|42,308|
|St Kentigern
Hospice||||||50,000|100,000|
|Steps2 Recovery||||||40,000|40,000|
|Teenage Cancer Trust||||||49,109|46,500|
|Tenovus Cancer Care|||||||105,000|
|The Autism
Directory|||||||24,000|
|The END Fund ($1,000,000)||||||840,054|730,066|
|The Fatham Trust||||||31,500||
|The Hydration
Foundation||||||25,000||
|Touch Trust|||||||24,616|
|Ty Ellis||||||27,078||
|Ty Hafan||||||30,000|41,000|
|Ty Hapus CIO||||||100,000|100,000|
|Velindre
University
NHS Trust||||||30,000||
|Wales Air Ambulance||||||35,000||
|Yab Group Ltd- The Yab Hub- Wrexham||||||36,000||
|||||||4,167,129|3,270,823|
|Causes
in Wales||||||||
|Aber Food Surplus|||||||36,400|
|Aberystwyth
University|- Dewis Choice||||||105,000|
|Accessibility
Powys|||||||24,460|
|Action for Elders Trust||||||50,000|50,000|
|Age Cymru
Powys|||||||33,920|
|Age Cymru West Glamorgan|||||||31,064|
|Arts 8 Business Cymru||||||50,000|50,000|
|Arts Factory (RCT)||||||30,000||
|Atal YFro|||||||38,338|
|Awel Aman Tawe||||||100,000||
|Baobab Bach CIC||||||134,853||
|Benefice of Upper Islwyn|||||||34,261|
|Boomerang
Cardiff|||||||233,000|
|Breacon Mountin
Rescue Team||||||50,000||
|Bridge The Gap for BAME Community|||(Daughters||ofthe|||
|King)|||||||28,742|
|British Red Cross||||||91,321||
|Bridgend Carers Centre||||||||
|Caerau Development
Trust|||||||30,620|
|Calan Domestic Violence Services|||||||44,636|
|Cambrian
Village Trust|Ltd||||||46,600|
|Can Cook||||||96,050|167,000|
|Canolfan
Gymunedol
Ystradowen||Community||Centre||||
|CGYCC|||||||22,072|
|Canolfan
Pentre CIO||||||30,000|38,680|
##
##
##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Donations|||||||||(Continued)|
|||||||||2022|2021|
|Cardiff Women's
Aid||||||||64,138|43,154|
|Carers Trust Crossroads|West|||Wales||||34,937|9,000|
|Chapter
Cardiff Ltd||||||||30,000|30,000|
|Citizens Advice Caerphilly||Blaenau Gwent|||||||26,359|
|Citizens Advice Cardiff and|||Vale||||||62,367|
|Citizens Advice Cymru||||||||926,846||
|Clore Social Leadership|||||||||30,000|
|Community
Foundation|Wales|||(Nation of|Sanctuary|||||
|Croeso Fund)||||||||50,000||
|Cwmni'r
Fran Wen||||||||49,198||
|Cyngor ar Bopeth Cylch|Conwy|||District Citizens|||Advice|||
|Bureau|||||||||22,970|
|Cyngor ar Bopeth Powys||Citizens Advice||||||21,188|28,375|
|Dal Dy Dir|||||||||22,210|
|Dewis Choice (Aberystwyth|||University)|||||90,612||
|Dogs Trust||||||||99,997|47,023|
|Domestic Abuse Safety|Unit North Wales||||(DASU)|||49,890|49,890|
|Emmaus
South Wales||||||||26,520||
|Enfys Foundation|||||||||25,000|
|Follow Your Dreams|||||||||7,275|
|Food Redistribution
Wales|||Ltd T/A FareShare|||Cymru||121,050|123,000|
|Food Cycle||||||||30,000|15,329|
|FoodShare
North Wales|CIC||||||||34,000|
|Galeri Caernarfon
Cyf||||||||25,000|25,000|
|Gisda|||||||||50,000|
|Goldies Cymru||||||||62,500|75,900|
|Gwasanaeth
Cynnal
Gofalwyr/||||Carers Outreach|||Service||43,382|
|Hafan Cymru||||||||30,000|1,000|
|Hafren Theatre (part ofthe|||NPTC Group||ofColleges)||||35,000|
|Hay Castle Trust|||||||||150,000|
|Hope Ministries
Cwmbran||||||||8,000|25,000|
|Horn Development
Association||||CIC||||25,000|28,000|
|Hug gard||||||||240,000|126,401|
|Islwyn
Minstry Area - Rhymney||||Foodbank||||37,000||
|Kings Church: Jesus Cares|||Project|||||200,000||
|Live Music Now Wales|||||||||21,320|
|Llamau||||||||75,659|75,659|
|Manage
Money Wales CIC||||||||25,979||
|Montgomeryshire
Family||Crisis||Centre|||||37,889|
|Music in Hospitals
8 Care|||||||||58,751|
|Nantymoel
Amateur
Boxing|||Club||||||30,000|
|National
Literacy Trust|||||||||24,970|
|Neuadd
Goffa Penmachno|||(Penmachno||Village||Institute)||25,000|
|New Pathways|||||||||82,411|
|NoFit State Circus|||||||||60,000|
|NW Nappy Collaborative||CIC||||||28,000||
|Oasis Cardiff|||||||||33,750|
|Parish of Porthkerry,
Rhoose 8||||Penmark|||||30,000|
|Parish ofStThomas and||Kilvey|||||||30,802|
##
##
||||||||||
|---|---|---|---|---|---|---|---|---|
|Donations||||||||(Continued)|
||||||||2022|2021|
|PAVO (Powys Association
ofVoluntary||||Organisations)|||24,180|47,013|
|Pembrokeshire
Fream|||||||39,236||
|People and Work Unit|||||||35,000|28,500|
|Phoenix Domestic Abuse Services|||||||56,720|42,277|
|Poppy Factory RBL||||||||43,738|
|Port Talbot and Afan Women's||Aid (Thrive Women's||||Aid)||26,381|
|PRIME Cymru|||||||140,000|50,000|
|PTAWA Enterprise
Ltd|(Thrive|Group Wales)||||||22,440|
|Purple Shoots|||||||240,000|250,000|
|RASASC, North Wales|||||||29,960|30,000|
|RCS (Rhyl City Strategy)||||||||71,336|
|RCT Domestic Abuse Services|||||||25,000||
|Relate|||||||52,818|52,818|
|Resolven
Building Blocks||||||||25,353|
|Safer Merthyr
Tydfil|||||||24,182|27,725|
|Safer Wales|||||||150,000|125,000|
|Shared Lives Plus|||||||46,414||
|Sherman
Theatre|||||||40,170||
|Social Firms Wales||||||||30,000|
|Span Arts||||||||24,500|
|Spectacle Theatre
Ltd||||||||28,543|
|Sported Foundation|||||||50,000|40,000|
|St David's Diocesan Council for Social Responsibility:|||||||||
|Plant Dewi||||||||37,032|
|St Giles Trust||||||||25,686|
|St Gwladys
Church
Hall|||||||26,000||
|Street Football Wales|||||||40,000||
|Struggles 2 Smile|||||||24,000||
|Support Through
Court|||||||35,000|10,000|
|Swansea Women's
Aid||||||||58,243|
|TCC (Together Crating|Communities/Trefnu||||Cymunedol||||
|Cymru)|||||||24,000||
|The Armed Forces Bikers Veterans|||Charity|||||30,000|
|The Big Issue|||||||69,398|194,350|
|The Biscuit Fund||||||||45,000|
|The Bridge Mentoring|Plus Scheme|||||||38,396|
|The Community
Cafe (affiliated to|||Father's place )|||||23,980|
|The Costar Partnership|||||||36,000||
|The Gathering
Place|||||||23,000|20,000|
|The Hwb Torfaen||||||||25,200|
|The Old Mill Foundation||||||||15,000|
|The Queens
Hall Narberth||||||||33,072|
|The Royal British Legion Poppy Factory|||||||44,683||
|The Springboard
Charity 8 Springboard||||UK||||22,500|
|Theatre
Clwyd|||||||1,500,000||
|Theatre Development|Trust - THEATRE|||ARTISTS FUND|||36,000|68,000|
|Threshold
DAS|||||||54,006||
|Trussell Trust|||||||455,000||
|Tumble
Family Centre||||||||23,352|
##
##
|6|Donations|||(Continued)|
|---|---|---|---|---|
||Twynyrodyn
Community|Hub||54,050|
||Urdd Gobaith
Cymru|||24,000|
||ValePlus
Cymru and Vale Extra||30,000|6,600|
||Vision of Hope|||27,000|
||Voluntary
Arts Wales|||27,166|
||Wales Millennium
Centre||50,000|50,000|
||Welsh Dance Theatre Trust||||
||T/A Rubicon Dance||104,374|24,300|
||Wallich
Clifford Community||292,287|150,000|
||Welsh Housing
Aid (t/a Shelter Cymru)|||49,924|
||Welsh Refugee Council|||25,000|
||YHA (England
and Wales)|||48,558|
||||6,781,166|4,783,013|
##
##
##
||||||||||
|---|---|---|---|---|---|---|---|---|
|Donations||||||||(Continued)|
||||||||2022|2021|
|International||development||and humanitarian||aid|||
|Mary's Meals|||||||750,000|750,000|
|Plan International|||||||626,440|626,440|
|Unicef (Madagascar|||Eco-Village)||||399,330||
|Welsh Aid|for|Ukraine|(WAFU)||||85,000||
||||||||1,860,770|1,376,440|
||||||||2022|2021|
|Other|||||||||
|California|Coalition of Rural|||Housing||||110,197|
|The INSP|Foundation||(International||Network of|Street|||
|Papers)|||||||100,000|50,000|
|The Freedom||Fund US|||||1,000,000|1,000,000|
|Less than|f20,000 each||||||1,456,701|2,763,832|
||||||||2,556,701|3,924,029|
|Total|||||||20,879,979|18,116,934|
##
|The average|monthly
number
ofemployees
during th|e year was:||
|---|---|---|---|
|||2022|2021|
|||Number|Number|
|Employment|costs|2022|2021|
|Wages and salaries||65,733|57,760|
|Social security costs||4,217|2,059|
|||69,950|59,819|
##
##
##
|2022|2021|
|---|---|
|Number|Number|
|Unrestricted|Unrestricted|
|---|---|
|funds|funds|
|2022|2021|
||F|
|(124,754,000)|8,555,000|
|Unrestricted|Unrestricted|
|---|---|
|funds|funds|
|2022|2021|
||F|
|93,839|(339,014)|
##
##
|Fixed a|sset inve|stments||||
|---|---|---|---|---|---|
||||Listed|Cash in|Total|
||||investments|porffolio||
||||F|||
|Cost or|valuation|||||
|At 1 December 2021|||396,238,000|4,137,770|400,375,770|
|Valuation|changes||(124,754,000)||(124,754,000)|
|Dealing|account|||4,782,594|4,782,594|
|At 30 November||2022|271,484,000|8,920,364|280,404,364|
|Carrying|amount|||||
|At 30 November||2022|271,484,000|8,920,364|280,404,364|
|At 30 November||2021|396,238,000|4,137,770|400,375,770|
##
|||||||||
|---|---|---|---|---|---|---|---|
|12|Financial||instruments|||2022|2021|
||Carrying|amount of||financial assets||||
||Instruments||measured|at fair value through|profit or loss|361,580,248|472,502,256|
|13|Debtors|||||||
|||||||2022|2021|
||Amounts||falling due|within one year:||||
||Other debtors|||||216,250|216,250|
##
|||2022|2021|
|---|---|---|---|
|Listed|investments|90,096,248|76,264,256|
##
##
##
|Creditors: amounts
falling due within one y|ear||
|---|---|---|
||2022|2021|
||K||
|Accruals|594,547|419,513|
##
|17|Cash generated
from operations|Cash generated
from operations|||2022|2021|
|---|---|---|---|---|---|---|
||(Deficit)/surpus
for the year||||(113,497,190)|67,694,963|
||Adjustments
for:||||||
||Investment
income recognised|in statement|offinancial|activities|(32,218,673)|(29,629,124)|
||Foreign exchange differences||||93,839|(339,014)|
||Fair value gains and losses on|investments|||124,754,000|(8,555,000)|
||Movements
in working
capital:||||||
||(Increase)/decrease
in debtors|||||242,000|
||Increase
in creditors||||175,034|365,121|
||Cash (absorbed
by)/generated|from operations|||(20,692,990)|29,778,946|
|18|Analysis ofchanges
in net funds||||||
||The charity had no debt during|the year.|||||