## # ## |||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| ## ##