2022-06-30-accounts

		Page
Legal and administrative	information
Report ofthe Trustees		4-11
independent auditors'	report tothe Trustees	12-15
Statement offinancial	activities	16
Balance sheet		17
Cashflow stateinent		18
Notes tothe financial statements		19-29

	Note	Unrestricted	Unrestricted	Total	Total
		Income Fund	Capital Fund	Funds	Funds
		2022	2022	2022	2021
		E	E	E	E
Income from:
Donations and legacies		15,000		15,000	3,913,449
Income from investments:
Investment income		488,405		488,405	320,931
Total income		503/I05		503,405	4,234,380
Expenditure on:
Costs of raising funds			176,755	176,755	133,920
Expenditure on charitable
activities	4	655,668	3,143	658,811	464,377
Total expenditure		655,668	179JI98	835,566	598,297
Net income for the year before
gains and losses		(152,263	179JI98)	(332,161)	3,636,083
Realised investment gains/(losses):
— on foreign currency		5,673		5,673	(182/I22)
— on fixed asset investments			236,387	236,837	102,921
		5,673	236,387	242,060	(79,501)
Unrealised investment
gains/(losses):
— on foreign currency		16,095		16,095	2,007
— on fixed asset investments			(38,188	38,188	(1,559p021)
Net gains/(losses) on investments		16,095 21,768	(38,188 198.199	22,093 219.967	(1,557,014) ~6%.
Net income		(130,495)	18,301	(112,194)	1,999,568
Transfer between funds		(729,812)	729,812
Net movement in funds		(860,307)	748,113	(112,194)	1,999,568
Reconciliation offunds
Balance brought forward at 1July
2021		2,671,971	32,107,852	34,779,823	32,780,255
Balance carried forward at 30June
2022	13	1,811,664	32355,965	34,667,629	34,779,823

			Note	2022	2021
					6
Fixed assets
Investments	portfolio			5,525,442	32,104p536
Investments	property			27,328,692
Tangible assets				1,831	3,316
				32,855,965	32,107,852
Current assets
Cash at bank	and in hand			2~38,754	2,715,804
Debtors			10	110,667	43,645
				2,549,421	2,759,449
Current liabilities
Creditors: amounts		falling due within one year-		(213,007)	(80,435)
unrestricted
Net current	assets			2,336,414	2,679,014
Total assets	less current liabilities			35,192,379	34,786,866
Creditors: amounts Year - unrestricted		falling due after more than one	ss	~(524.750	(7,043)
Net assets				34,667,629	34,779,823
Funds
Unrestricted	capital fund			32,855,965	32,107,852
Unrestricted	income fund			1,811,664	2,671,971
Total unrestricted		funds		34,667,629	34,779,823

						2022	2022	2021	2021
						f	f	f	f
Net cash inflow from	operating
activities (Note 15)							(234,167)		3,252~4
Returns on investment		and	servicing
offinance
Dividends received						211,602		214,345
Interest received						156,958		106,586
Rent received						56,045
							424,605		320,931
Capital expenditure	and financial
investment
Proceeds from sale ofinvestments						30,840,418		7,649,983
Purchase offixed assets						(1,658)
Purchase of Investment		Property				(27,328,692)
Purchase ofinvestments						(7,435,823)		(28,187,227)
							(3,925,755)		(20,537,244)
Effect ofcurrency translation				on cash
and cash equivalents							292,144		(1,676,367)
Net decrease in cash							(3,443,173)		(18,640,236)
Analysis ofnet funds
						Net	balance at 1July	Cash increase	Net balance
							2021	/(decrease)in	at 30June
								the year	2022
								E	f
Cash at bank							2,715,804	(277,050)	2,438,754
Investment cash (see		note	helow)				3531400	(3,166,123)	365,277
							6,247,204	(3,443,173)	2,804,031
Note
(Decrease) in cash awaiting			investment		(nore 7)				(3,372,697)
Unrealised gains on	cosh held forinvestment								206,574
									(3,166,123)

						2022	2021
						6	6
	Donations	—unrestricted					3,898,449
	Value ofservices received treated				as a donation - unrestricted	15,000	15,000
						15,000	3,913,449
3.	Investment	income
						2022	2021
						f	6
	interest	earned				156,909	101,992
	Dividend	income				211,602	214,345
	Rental income					119,845
	Other Interest					49	4,594
						488,405	320,931
4.	Expenditure	on	charitable	activities
						2022	2021
						6	f
	Grant-making		(see below)			364,452	203,423
	Support	costs				281,259	245,612
	Governance costs					13,100	15,342
						658,811	464,377

Expenditure on charitable activities continued:	Expenditure on charitable activities continued:
The following grants were made during the year:
					2022	2021
					f	E
Apricot Centre —Contribution to support young people			leaving care			18,100
Barefoot Kitchen —Support costs for new	community	growing		site		9,000
Bike Stop —Covid-19 relief grant					17,342
Brookside Theatre —Contribution toward	a youth production				5,0M	10,450
Buddhist Heritage Project —Archive building repairs						5,386
Buddhist Heritage Project -Overheads 2021					32,205	32,324
Creative Learning					6,650
Conservation Collective					1,750
Denton Youth and Community Project					15,000
Devon Environment Foundation —Support Devon	for environmental			projects in	9,000	10,000
Earth Doctors Ltd "BigRiver Bakery"					5,000	15,150
Enactus LiK- Covid-19 relief grant						5,000
Ethnic Talents Non-profit Bt —Contribution integration of marginalised communities	towards	labour market				(11,356)
Escape2Make					4,000
Firestarter Association					15,424
Flow Foundation —Contribution towards capacity building work					3,189	10,643
Foundation Futures —Contribution towards 'Makes		Stuff' pilot			14,030
Green Schools Project					15,000
High Trees Community Development Trust					20,000
jai Bhim Trirantna Buddhist Community —Support for financial stabilisation						14,089
Live Consciously Association —Contribution	towards	purchase		ofa van		613
Mahajana Foundation —Covid-19 relief grant					9,045
Make Your Way CIC- Contribution towards external		business		support
Oswin Project —Contribution toward Cafe	16					26,000
Plastic Free North Devon —'Protect our Playground'		project				8,995
Roma Minority Representatives					6,650
Romaversitas Ala pitvany					4,577
Smile For Life Children's Charity (SFL)					14,810
T-Tudok —Assistance to introducing a new	methodology		in a school			4,645
Well Grounded —Covid-19 relief grant					15,000	(24,500)
Wilder City					14,690
Women for the Future Association —Roma	Heroes				22,000
Wonderworkshop Association —Support for Community Programme			Assistants		102p090	35,256
Woodshed Workshop CIC —Contribution to provide		support for learners			12,000	17,630
Woodshed Workshop CIC —Covid-19 relief	grant					674
Youth Realities —Contribution to meet increased service			demand			15,324
Total ofgrants awarded					364,452	203,423

	2022	2021
	E	E
Salaries	112,968	104,711
Social Security Costs	17,068	11,296
Pension Costs	3,546	2,352
	133,582	118,359

			2022	2021
			E	E
This is stated	after charging:
Auditors' remuneration		-audit ofaccounts	12,100	10,409
Auditors' remuneration		—other services	4,120	2,023
Depreciation			3,143	3,490
Net incoming	resources	are shown after any foreign exchange movement.

nvestments
			2022	2021
			E	E
Market value at 1July 2021			32,104,536	25,771,126
Purchases made during the	year		7,435,823	28,187,227
Sales proceeds received			(30,840,418)	(7,649,983)
(Decrease) in cash awaiting	investment		(3,372,697)	(12,747,734)
Gains and (losses) on investments		for the year
- Realised			236,387	102,921
IJnrealised			(38,189)	(1,559,021)
Market value at 30June 2022			5,525,442	32,104,536

.	Investments continued	Investments continued	Investments continued
	Analysis of market value at 30June 2022
				2022	2021
				f	E
	Equities- listed on a recognised		Stock Exchange	628,298	5,108,726
	Bonds			2,354,777	22,083,625
	Absolute return funds			2,177,090	1,380,785
	Cash awaiting	investment		365,277	3,531,400
	Market value	at 30June 2022		5,525,442	32,104,536
&.	Investment	property
				2022	2021
				6	E
	Investment property			27,328,692
	Market value	at30June 2022		27,328,692

	Furniture,	Website	Total
	fittings and	design and
	equipment	development
	f	6
Cost
At 1July 2021	22,209	5,956	28,165
Additions during the year	1,658		1,658
Disposals
At 30June 2022	23,867	5,956	29,823
Depreciation
At 1July 2021	18,893	5,956	24,849
Charge for the year	3,143		3,143
Depreciation on disposal
At 30June 2022	22,036	5,956	27,992
Net book value
At 30June 2022	1,831		1,831
At 30June 2021	3,316		3,316

		2022	2021
		6	6
Prepayments		30,405	23,073
VAT recoverable		43,053
Other debtors		37,209	20,572
		110,667	43,645
reditors - Amounts	falling due within one year
		2022	2021
		6	6
Trade creditors		21,822	3,581
Grant commitments		111,775	33,865
Accruals and deferred	income	75,331	42,699
Other creditors		4,079	290
		213,007	80,435
editors - Amounts	falling due after more than one year
		2022	2021
		f	6
Grant commitments		16,850	7,043
Rent deposits		507,900
		524,750	7,043

13.	Analysis of net as	set	s betwee	n fun	ds
					Unrestricted	Unrestricted		2022	2021
					income fund	capital	fund
								Total	Total
	Tangible fixed assets						1,831	1,831	3,316
	Investments (including		property)			32,854,134		32,854,134	32,104,536
	Net current assets				2,336,414			2,336,414	2,679,014
	Creditors due after one		year		(524,750)			(524p750)	(7,043)
	Net surplus				1,811,664	32,855,965		34,667,629	34'779,823
14.	Movement in funds
					Unrestdcted	Unrestricted		2022	2021
					income fund	capital fund
								Total	Total
								6	6
	Balance at 1July 2021				2,671,971	32,107,852		34,779,823	32,780,255
	Incoming resources				503,405			503~5	4,234,380
	Resources expended				(655,668)	(179,898)		(835,566)	(598,297)
	Realised/(unrealised)	gains and
	losses				21,768	198,199		219,967	(1,636,515)
	Transfer between funds				(729,812)	729,812
	Balance at 30June 2022				1,811,664	32,855,965		34,667,629	34,779,823
15.	Reconciliation of net incoming			resources to operating		activities
								2022	2021
								f	6
	Net (deficit)/income	for the year		before	(losses)/gain			(332,161)	3,636,083
	Depreciation charges							3,143	3,490
	Dividends, interest and		rent receivable					(488,406)	(320,931)
	(Increase) in deferred	rental income						(63,800)
	(Increase)/Decrease	in	debtors					(3,222)	24,010
	Increase in creditors							562,562	6,163
	Increase/(Decrease)	in	grant commitments					87,717	(96,371)
	Net cash inflow from operating			activities				(234,167)	3,252,444

		2022	2021
Within one year		9,742	19,483
After one year but within	five years		9,742
Total		9,742	29,225