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||**Page**|
|---|---|
|**Reference and administrative details of the company, its trustees and advisers**|**1**|
|**Trustees' report**|**2 −5**|
|**Independent auditor's report on the financial statements**|**6 −9**|
|**Statement of financial activities**|**10**|
|**Balance sheet**|**11 −12**|
|**Notes to the financial statements**|**13 −23**|





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|**Trustees**|A L Banes|
|---|---|
||L S Block|
||J B Francken|
||D J Jepps|
||H Kuper|
||R Mariner|
||S Morris MBE|
||J S Segal|
||N A Spencer|
||A E Virchis|
|**Company registered**||
|**number**|07516569|
|**Charity registered**||
|**number**|1141727|
|**Registered office**|32 Haverhill Road|
||Stapleford|
||Cambridge|
||CB22 5BX|
|**Company secretary**|D Jepps|
|**Independent auditor**|Blick Rothenberg Audit LLP|
||Chartered Accountants|
||16 Great Queen Street|
||Covent Garden|
||London|
||WC2B 5AH|
|**Bankers**|National Westminister Bank|
||North Finchley Branch|
|**Solicitors**|Howard Kennedy|
||No. 1 London Bridge|
||London|
||SE1 9BG|





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|||**Unrestricted**|**Restricted**|**Total**|Total|
|---|---|---|---|---|---|
|||**funds**|**funds**|**funds**|funds|
|||2022|2022|2022|2021|
||**Note**|£|£|£|£|
|Income from:||||||
|Donations and legacies|3|67,645||**67,645**|44,564|
|Other trading activities|4|**46,468**||**46,468**|8,258|
|Investments|**5**|**17,130**||**17,130**|23,633|
|**Total income**||**131,243**||**131,243**|76,455|
|**Expenditure** on:||||||
|Raising funds|6|**1,980**||**1,980**|1,980|
|Charitable activities|7|157,532||157,532|156,366|
|Other expenditure|**8**|**7,450**||**7,450**|5,019|
|**Total expenditure**||**166,962**||166,962|163,365|
|**Net expenditure before net**||||||
|**(losses)/gains on investments**||(35,719)||(35,719)|(86,910)|
|Net (losses)/gains on investments||(8,308)||(8,308)|75,034|
|Net **movement in funds**||**(44,027)**||**(44,027)**|(11,876)|
|Reconciliation o f funds:||||||
|Total funds brought forward||491,326|**500,000**|991,326|1,003,202|
|Net movement in funds||(44,027)||(44,027)|(11,876)|
|**Total funds carried forward**||**447,299**|**500,000**|**947,299**|991,326|





## 

||||**2022**||2021|
|---|---|---|---|---|---|
||**Note**|||||
|**Fixed assets**||||||
|Investments|10||**773,558**||859,671|
||||**773,558**||859,671|
|**Current assets**||||||
|Debtors|11|**20,527**||17,912||
|Cash at bank and in hand||**165,431**||125,493||
|||**185,958**||143,405||
|Creditors: amounts falling due within one||||||
|year|12|**(12,217)**||(11,750)||
|**Net current assets**|||**173,741**||131,655|
|**Total assets less current liabilities**|||**947,299**||991,326|
|**Total net assets**|||**947,299**||991,326|
|**Charity funds**||||||
|Restricted funds|13||**500,000**||500,000|
|Unrestricted funds|13||**447,299**||491,326|
|**Total funds**|||**947,299**||991,326|





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||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2022**|
||**£**|**£**|
|Donations|67,645|**67,645**|
||_Unrestricted|Total|
||funds|funds|
||2021|2021|
||£|£|
|Donations|44,564|44,564|



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|||**Unrestricted**|**Total**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2022**|**2022**|
|||**£**|**£**|
|Events|income|46,468|**46,468**|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||£|£|
|Events|income|8,258|8,258|





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||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2022**|
||**£**|**£**|
|Investment income|17,130|**17,130**|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
||£|£|
|Investment income|23,594|23,594|
|Bank interest|39|39|
||23,633|23,633|



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|||**Unrestricted**|**Total**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2022**|**2022**|
|||**£**|**£**|
|Events|expense|1,980|**1,980**|
|||Unrestricted|Total|
|||funds|funds|
|||2021|2021|
|||£|£|
|Events|expense|1,980|1,980|





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||||||**Unrestricted**||
|---|---|---|---|---|---|---|
||||||**funds**|**Total**|
||||||**2022**|**2022**|
||||||**£**|**£**|
|Karen's|Home|from|Home,|Birmingham|23,392|**23,392**|
|Karen's|Home|from|Home,|Hammersmith|63,322|**63,322**|
|Karen's|Home|from|Home,|Oxford|29,480|**29,480**|
|Karen's|Home|from|Home,|Cambridge|41,338|**41,338**|
||||||157,532|**157,532**|
||||||Unrestricted||
||||||funds|Total|
||||||2021|2021|
||||||£|£|
|Karen's|Home|from|Home,|Birmingham|23,037|23,037|
|Karen's|Home|from|Home,|Hammersmith|62,382|62,382|
|Karen's|Home|from|Home,|Oxford|29,443|29,443|
|Karen's|Home|from|Home,|Cambridge|41,504|41,504|
||||||156,366|156,366|





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||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2022**|
||**£**|**£**|
|Postage and publicity|4,075|**4,076**|
|JustGiving fees|216|**216**|
|Newsletter costs|96|**96**|
|Investment management costs|3,063|**3,063**|
||7,450|**7,450**|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
||£|£|
|Postage and publicity|1,008|1,008|
|JustGiving fees|302|302|
|Newsletter costs|153|153|
|Investment management costs|3,556|3,556|
||5,019|5,019|



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||**Listed**|
|---|---|
||**securities**|
||**£**|
|**Cost or valuation**||
|At 1 June 2021|**859,671**|
|Additions|**301,966**|
|Disposals|**(379,771)**|
|Revaluations|**(8,308)**|
|At 31 May 2022|**773,558**|
|**Net book value**||
|At 31 May 2022|**773,558**|
|At 31 May 2021|859,671|





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||**2022**|2021|
|---|---|---|
|Travis Perkins 4.5%|**19,918**|21,364|
|National Grid Plc 1.25%||57,038|
|Tesco Plc 6.125%||31,252|
|London Stock Exch 4.75%||46,809|
|Burford Cap Plc 6.5%||47,607|
|Roche Finance Euro 5.375%|**46,615**|49,750|
|Fundrock Partners Credo Dynamic|**270,256**|240,040|
|Xtrackers MSCI|**54,930**|56,978|
|BP Capital Markets 4.24%|**47,840**|52,829|
|BUPA Finance 4.125%||22,183|
|General Accident 8.875%|**39,750**|49,050|
|Downing Rnew||19,000|
|TP !cap 5.25%|**20,194**|22,802|
|Severn Trent 1.3%|**58,941**|56,151|
|Investec 9.625%||24,398|
|Tesco 3.322%|**21,908**|20,600|
|Urban Logistics Reit|**17,400**|29,522|
|Biopharma US$ sterling equivalent||12,298|
|Canary Wharf 3.375%|**18,428**||
|Hipgnosis Songs|**32,281**||
|Supermatket Income REIT|**44,783**||
|TwentyFour Inc|**13,788**||
|Pinewood Ginance 3.25%|**33,202**||
|Vodafone 4.875%|**29,767**||
|Gresham House Energy Storage|**3,557**||
||**773,558**|859,671|





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||**2022**|2021|
|---|---|---|
|**Due within one year**|||
|Other debtors|**3,429**|3,444|
|Prepayments and accrued income|**17,098**|14,468|
||**20,527**|17,912|



||**2022**|2021|
|---|---|---|
|Accruals|**12,217**|11,750|





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|**Statement of funds −c **|**urrent year**|||||
|---|---|---|---|---|---|
|||||**Unrealised**||
|||||**and realised**||
|||||**investment**||
||**Balance at**|||**gains/**|**Balance at**|
||**1 June 2021**|**Income**|**Expenditure**|**(losses)**|**31 May 2022**|
|**Unrestricted funds**||||||
|Unrestricted funds|**491,326**|**131,243**|**(166,962)**|**(8,308)**|**447,299**|
|**Restricted funds**||||||
|Restricted funds|**500,000**||||**500,000**|
|**Total of funds**|**991,326**|**131,243**|**(166,962)**|**(8,308)**|**947,299**|
|**Statement of funds −prior year**||||||
|||||Unrealised||
|||||and realised||
|||||investment||
||Balance at|||gains/|Balance at|
||1 June 2020|Income|Expenditure|(losses)|31 May 2021|
|**Unrestricted funds**||||||
|Unrestricted Funds|503,202|76,455|(163,365)|75,034|491,326|
|**Restricted funds**||||||
|Restricted Funds|500,000||||500,000|
|**Total of funds**|1,003,202|76,455|(163,365)|75,034|991,326|





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|**Analysis of net assets between funds −current year**||||
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**|**funds**|
||**2022**|**2022**|**2022**|
||**£**|**£**|**£**|
|Fixed asset investments|273,558|500,000|**773,558**|
|Current assets|185,958||**185,958**|
|Creditors due within one year|(12,217)||**(12,217)**|
|**Total**|447,299|500,000|**947,299**|
|**Analysis of net assets between funds −prior year**||||
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||£|£|£|
|Fixed asset investments|359,671|500,000|859,671|
|Current assets|143,405|−|143,405|
|Creditors due within one year|(11,750)||(11,750)|
|**Total**|491,326|500,000|991,326|



## 

||**2022**|2021|
|---|---|---|
||**£**|£|
|Not later than 1 year|**92,540**|64,130|
|Later than 1 year and not later than 5 years|**26,110**||
||**118,650**|64,130|