| Page | ||
|---|---|---|
| Reference and administrative details ofthe Charity, |
its Trustees and advisers | |
| Trustees' report |
2-10 | |
| Trustees' responsibilities statement |
||
| Independent examiner's report |
12 | |
| Statement offinancial activities |
13 | |
| Balance sheet | ||
| Notes to the financial statements | 15-29 |
| Trustees | J Geoghegan, | Chairman | Chairman | Chairman | ||||
|---|---|---|---|---|---|---|---|---|
| SC Mckeand-Han, | Legal Advisor | |||||||
| C Chanda | ||||||||
| W Dear | ||||||||
| G Dibiase | ||||||||
| V Kyte | ||||||||
| E Patsalos | ||||||||
| C V Pocock | ||||||||
| A Singh | ||||||||
| S Haidry | ||||||||
| Charity registered | ||||||||
| number | 1140672 | |||||||
| Principal | office | cio RPG Crouch Chapman | LLP | |||||
| 14-16Dowgate | Hill | |||||||
| London | ||||||||
| EC4R 2SU | ||||||||
| Principal | operating | cio RPG Crouch Chapman | LLP | |||||
| office | 14-16Dowgate | Hill | ||||||
| London | ||||||||
| EC4R 2SU | ||||||||
| Treasurer | Tom Monell | |||||||
| Accountants | RPG Crouch Chapman | LLP | ||||||
| 14-16Dowgate | Hill | |||||||
| London | ||||||||
| EC4R 2SU | ||||||||
| Bankers | HSBC | |||||||
| Church Street | ||||||||
| Weybridge | ||||||||
| Surrey | ||||||||
| KT136DF | ||||||||
| Solicitors | Thomson Snail |
& Passmore | ||||||
| 3 Lonsdale Gardens | ||||||||
| Tunbridge Wells |
||||||||
| TN1 1NX | ||||||||
| Investment | Adivser | Veritas Investment | Management | LLP | ||||
| 90 Long Acre | ||||||||
| London | ||||||||
| WC2E 9RA | ||||||||
| Independent | Examiner | Jeremy Tyrrell | ||||||
| RPG Crouch Chapman | LLP | |||||||
| 14-16Dowgate | Hill | |||||||
| London | ||||||||
| EC4R 2SU |
| Endowment | Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| Note | 2022 f |
2022 f |
2022 | 2027f | |||
| Income and endowments | from: | ||||||
| Donations and legacies |
14,081 | 14,081 | |||||
| Investments | 3,962 | 3,962 | 5,039 | ||||
| Other income | 133,161 | 133,161 | |||||
| Total income and | endowments | 3,962 | 147,242 | 151,204 | 5,039 | ||
| Expenditure on: |
|||||||
| Raising funds | (810) | (3,914) | (4,724) | 1,857 | |||
| Charitable activities |
379,645 | 379,645 | 275,450 | ||||
| Total expenditure | (810) | 375,731 | 374,921 | 277,307 | |||
| Net Income/(expenditure) | before net | ||||||
| (losses)/gains on |
investments | 4,772 | (228,489) | (223,717) | (272,268) | ||
| Net (losses)/gains | on investments | (30,912) | (150,765) | (181,677) | 318,074 | ||
| Net (expenditure)/income | (26,140) | (379,254) | (405,394) | 45,806 | |||
| Transfers between |
funds | 19 | (154,243) | 154,243 | |||
| Net movement in |
funds | (180,383) | (225,011) | (405,394) | 45,806 | ||
| Reconciliation of |
funds: | ||||||
| Total funds brought | forward | 496,111 | 307,731 | 803,842 | 758,036 | ||
| Net movement in funds |
(180,383) | (225,011) | (405,394) | 45,806 | |||
| Total funds canied forward | 315,728 | 82,720 | 398,448 | 803,842 | |||
| The Statement offinancial |
activities includes | all | gains and losses | recognised in the |
year. |
| Note | 2022 | 2021f | |||||
|---|---|---|---|---|---|---|---|
| Fixed assets | |||||||
| Investments | 12 | 1,844,469 | 2,255,146 | ||||
| 1,844,469 | 2,255,146 | ||||||
| Current assets | |||||||
| Debtors | 13 | 18,770 | 6,406 | ||||
| Cash at bank and | in hand | 14,989 | 84,990 | ||||
| 33,759 | 91,396 | ||||||
| Creditors: amounts | falling | due within one | |||||
| year | 14 | (294,428) | (1,271,504) | ||||
| Net current liabilities |
(260,669) | (1,180,108) | |||||
| Total assets less | current | liabilities | 1,583,800 | 1,075,038 | |||
| Creditors; amounts |
falling | due after more | |||||
| than one year | 16 | (1,185,352) | (271,196) | ||||
| Total net assets | 398,448 | 803,842 | |||||
| Charity funds | |||||||
| Endowment funds |
19 | 315,728 | 496,111 | ||||
| Unrestricted funds |
19 | 82,720 | 307,731 | ||||
| Total funds | 398,448 | 803,842 |
| Unrestncted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022f | 2021f | |
| Donations | 14,081 | 14,081 |
| Endowment | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022f | 2022 | |||
| Dividends | and | interest | 3,962 | 3,962 |
| Unrestricted | Total | |||
| funds | funds | |||
| 2021f | 2021f | |||
| Dividends | and | interest | 5,039 | 5,039 |
| Unrestricted | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||
| 2022 | 2022f | 2021f | |||||||
| Capital | Contribution | arising from loan interest foregone | 133,161 | 133,161 | |||||
| 6. | Investment | management | costs | ||||||
| Endowment | Unrestricted | Total | |||||||
| funds | funds | funds | |||||||
| 2022 f |
2022 f |
2022f | |||||||
| Investment | management | costs | (610) | (3,914) | (4,724) | ||||
| Endowment | Total | ||||||||
| funds | funds | ||||||||
| 2021f | 2021f | ||||||||
| Investment | management | costs | 1,857 | 1,857 | |||||
| 7. | Analysis | of | grants | ||||||
| Grants to | Total | ||||||||
| Individuals | funds | ||||||||
| 2022f | 2022 f. |
||||||||
| Grants, | Grant giving | and | mentee support | 337,614 | 337,614 | ||||
| Grants to | Total | ||||||||
| Individuals | funds | ||||||||
| 2021 f' |
2021f | ||||||||
| Grants, | Grant giving | and mentee support | 232,238 | 232,238 |
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Total | |||||
| 2022f | 2022f | |||||
| Grant | giving | and | mentee | support | 379,645 | 379,645 |
| Unrestricted | ||||||
| funds | Total | |||||
| 2021f | 2021f | |||||
| Grant | giving | and | mentee | support | 275,450 | 275,450 |
| Activities | Grant | |||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | funding of |
Support | Total | |||||
| directly | activities | costs | funds | |||||
| 2022f | 2022 | 2022 | 2022f | |||||
| Grant | giving | and | mentee | support | 28,141 | 337,614 | 13,890 | 379,645 |
| Activities | Grant | |||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | funding ol | Support | Total | |||||
| directly | activiVes | costs | funds | |||||
| 2021 | 2021f | 2021f | 2021 | |||||
| Grant | giving | and | mentee | support | 29,953 | 232,238 | 13,259 | 275,450 |
| Grant giving | |||
|---|---|---|---|
| and mentee | Total | ||
| support | funds | ||
| 2022f | 2022f | ||
| Staff | costs | 24,147 | 24,147 |
| Bank | and other charges | 1,673 | 1,673 |
| Travel and subsistence | 40 | 40 | |
| IT and software costs | 30 | 30 | |
| Admin | and office costs | 149 | 149 |
| Gifts and entertainment | 2,102 | 2,102 | |
| 28,141 | 28,141 | ||
| Grant giving | |||
| and mantes | Total | ||
| support | funds | ||
| 2021f | 2021f | ||
| Staff costs | 25,068 | 25,068 | |
| Bank and other charges | 1,481 | 1,481 | |
| Travel | and subsistence | 785 | 785 |
| IT and | software costs | 19 | 19 |
| Admin | and office costs | 2,232 | 2,232 |
| Gifts and entertainment | 368 | 368 | |
| 29,953 | 29,953 |
| Grant giving | ||||||||
|---|---|---|---|---|---|---|---|---|
| and mentee | Total | |||||||
| support | funds | |||||||
| 2022 | 2022 | |||||||
| E | ||||||||
| IT and | software costs | 939 | 939 | |||||
| Admin | and | office costs | 4,497 | 4,497 | ||||
| Governance | costs | 8,454 | 8,454 | |||||
| 13,890 | 13,890 | |||||||
| Grant giving | ||||||||
| and mentee | Total | |||||||
| support | funds | |||||||
| 2021 | 2021 | |||||||
| E | E | |||||||
| IT and | software costs | 1,075 | 1,075 | |||||
| Admin | and | office costs | 4,888 | 4,888 | ||||
| Governance | costs | 7,296 | 7,296 | |||||
| 13,259 | 13,259 | |||||||
| 10. | Staff costs | |||||||
| 2022 E |
2021f | |||||||
| Wages | and | salaries | 23,625 | 23,625 | ||||
| Social | security costs | 1,023 | ||||||
| Contribution | to defined | contribution | pension | schemes | 522 | 420 | ||
| 24,147 | 25,068 | |||||||
| The average | number ofpersons employed | by the Charity during | the year was as follows: | |||||
| 2022 | 2021 | |||||||
| No. | No. | |||||||
| Administration | and support |
| Listed | ||
|---|---|---|
| investments | ||
| E | ||
| Cost or valuation | ||
| At 1 January 2022 | 2,255,146 | |
| Disposals | (229,000) | |
| Revaluations | (181,677) | |
| At 31 December 2022 | 1,844,469 | |
| Net book value | ||
| At 31 December 2022 | 1,844,469 | |
| At 31December 2021 | 2,255,146 | |
| Breakdown ofgains/ (losses) |
||
| 2022 | 2021 | |
| 6 | E | |
| Realised gains/ (losses) |
(20,859) | 20,508 |
| Unrealised gains/ (losses) |
(160,818) | 297,567 |
| (181,677) | 318,075 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | |||
| Due within | one year | ||
| Other debtors | 327 | 327 | |
| Prepayments | and accrued income | 18,443 | 6,079 |
| 18,770 | 6,406 |
| 2022 | 2021 | |
|---|---|---|
| E | ||
| Trade creditors | 4,253 | 4,253 |
| Other creditors | 1,000,000 | |
| Accruals | 290,175 | 267,251 |
| 294,428 | 1,271,504 |
| Accrued educational | expenses | 284,895 | 256,295 |
|---|---|---|---|
| Other accrued expenses | 5,280 | 10,956 | |
| 290,175 | 267,251 |
| 2022 | 2021 | ||
|---|---|---|---|
| F | E | ||
| Other creditors | 866,839 | ||
| Accrued educational | expenses | 318,513 | 271,196 |
| 1,185,352 | 271,196 |
| 2022 | 2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | E | |||||||||||
| Financial | assets | |||||||||||
| Financial | assets | measured | at | fair | value | through | income | and | expenditure | 1,844,469 | 2, | 255,146 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||||
| January | Transfers | Gains/ | December | ||||
| 2022 | Income | Expenditure | in/out | (Losses) | 2022 | ||
| E | E | E | |||||
| Unrestricted | |||||||
| funds | |||||||
| Designated | |||||||
| funds | |||||||
| Designated | |||||||
| Fund | 80,757 | (80,757) | |||||
| General | funds | ||||||
| General | Funds | 226,974 | 147,242 | (375,731) | 235,000 | (150,765) | 82,720 |
| Total | |||||||
| Unrestricted | |||||||
| funds | 307,731 | 147,242 | (375,731) | 154,243 | (150,765) | 82,720 | |
| Endowment | |||||||
| funds | |||||||
| Endowment | |||||||
| Fund | 496,111 | 3,962 | 810 | (154,243) | (30,912) | 315,728 | |
| Total of | funds | 803,842 | 151,204 | (374,921) | (181,677) | 398,448 |
| Stateme | nt of fun | ds - prior year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at | 31 | ||||||
| 1January | Transfers | Gainsr | December | ||||
| 2021f | Incomef | Expendituref | inloutf | (Losses)f | 2021f | ||
| Unrestricted | |||||||
| funds | |||||||
| Designated | |||||||
| funds | |||||||
| Designated | |||||||
| Fund | 68,193 | (29,737) | 29,737 | 12,564 | 80,757 | ||
| General | funds | ||||||
| General | Funds | 205,424 | (245,713) | 267,263 | 226,974 | ||
| Total | |||||||
| Unrestricted | |||||||
| funds | 273,617 | (275,450) | 297,000 | 12,564 | 307,731 | ||
| Endowment | |||||||
| funds | |||||||
| Endowment | |||||||
| Fund | 484,419 | 5,039 | (1,857) | (297,000) | 305,510 | 496,111 | |
| Total of | funds | 758,036 | 5,039 | (277,307) | 318,074 | 803,842 |
| Analysis of net assets between funds - current |
year | ||
|---|---|---|---|
| Endowment | Unrestricted | Total | |
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| f | f | ||
| Fixed asset investments | 315,728 | 1,528,741 | 1,844,469 |
| Current assets | 33,759 | 33,759 | |
| Creditors due within one year | (294,428) | (294,428) | |
| Creditors due in more than one year | (1,185,352) | (1,185,352) | |
| Total | 315,728 | 82,720 | 398,448 |
| Analysis | of net assets between funds -prior y | ear | ||
|---|---|---|---|---|
| Endowmenl | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| 8 | E | 6 | ||
| Fixed asset investments | 488,114 | 1,767,032 | 2,255,146 | |
| Current | assets | 7,997 | 83,399 | 91,396 |
| Creditors | due within one year | (1,271,504) | (1,271,504) | |
| Creditors | due in more than one year | (271,196) | (271,196) | |
| Total | 496,111 | 307,731 | 803,842 |