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|REPORT OFTHE TRUSTEES|||
|REPORT OF THE INDEPENDENT|EXAMINER||
|STATEMENT OF FINANCIAL ACTIVITIES|||
|BALANCE SHEET|||
|NOTES TO THE FINANCIAL STATEMENTS||7HO|
|2022 STATEMENT OF FINANCIAL|ACTIVITIES SHOWING||
|ALLOCATION
BETWEEN FUNDS|||
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||||||INCOME FUND|EXPENDABLE|TOTAL|TOTAL|
|---|---|---|---|---|---|---|---|---|
||||||(unrestricted)|ENDOWMENT|2023|2022|
||||Notes||6|6|6|6|
|INCOME AND EXPENDITURE||||||||(page 11)|
|Income and Endowments||from:|||||||
|Investment
income
Bank interest|||||55,736.67
2,000A1||55,736.67
2,000.41|58,479|
|Total Incoming|||||57,737.08||57,737.08|58,479|
|EXPENDITURE ON|||||||||
|Raising Funds|||||||||
|Investment
management|fees|||||12,551.89|12,551.89|13,513|
|Charitable
Activities|||||||||
|Grants|||3||76,981.68||76,981.68|10,367|
|Support costs|||10||6,473.00||6,473.00|6,587|
|Total Expenditure|||||83,454.68|12,551.89|96006.57|30,467|
|Net (expenditure)/income
investment
gains||before|||(25,717.60)|(12,551.89)
I|(38,269.49)|28,012|
|(Losses)/gains
on investments:|||||||||
|Realised
Unrealised||||||(12,035A3)
(147,844.69)|(12,035.43)
(147,844.69)|(1,183)
66,771|
|Net (expenditure)/income|||||(25,717.60)|(172,432.01)|(198,149.61)|93,600|
|Other recognised
gains/losses|||||||||
|Currency gains/(losses)|||||||||
|Net movement
offunds|||||(25,717.60)|(172,432.01)|(198,149.61)|93,600|
|Reconciliation
ofFunds|||||||||
|Fund Balances brought
forward|||||132,845.97|1,887,238.39|2,020,084.36|1,926,484|
|Fund Balances carried forward||||E|107,128,37|E1,714,806.38|E 1,821,934.76|F-2,020,084|
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||Notes||2023||2022||
|---|---|---|---|---|---|---|
|Fixed Assets|||||||
|Investments|||1,618,843.14|||1,809,126|
|Current Assets|||||||
|- Metrcbank
account||48,876.65||5,557|||
|- Charles Stanley tt Co accounts||198,371.85||207,415|||
|Total Current Assets|||247,248AO|||212,972|
||||1,868,091.54||2,022,098||
|Less: Creditors|||||||
|Amounts
fal(ing due within one year|||||||
|Accruals||4,256.00||2,014|||
|Grants committed||399D0.79|||||
||||44,156.79|||2,014|
|Total Net Assets|||61,821,934.75||62,020,084||
|Funds ofthe Charity|||||||
|Capital Funds|||||||
|Expendable
Endowment|||1,714,806.38|||1,887,238|
|Income Funds|||||||
|Income Fund (unrestricted)|||107,128.37|||132,846|
|Total Funds|||61,821,934.75||F|2,020,084|
|Approved
by:|||||||
|Oats
I0|||||||
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|Investments|Investments|Investments|Investments|Investments|Investments|||||
|---|---|---|---|---|---|---|---|---|---|
|Movements
on quoted investments
were as follows:||||||||2023|2022|
|||||||||6|8|
|Market value at 6April||2022||||||1,809,125.95|1,816,621|
|Add:
acquisitions
at cost
Less:
realised gain/(loss'
(12,03543)
5:9
8
~88885.59||||||||58,282.90
(100,721.02)|163,557
(237,823)|
|Net (loss)/gain
on revaluation
at 5April 2022||||||||(147,844.69)|66,771|
|Market value at 5April||2023|||||E|1,618,843.14|81,809,126|
|Historical cost as at 5 April 2023|||||||E|1,442,497|81,475,884|
|All investments
are listed||on a recognised||stock exchange.||There was only|one investment,|||
|Shell Ord Eur 0.07,which||accounted|for more than 5%of the|||portfolio by value.||||
|The total market value is||made up as|follows:|||||||
|||||||||2023|2022|
|||||||||6|8|
|Overseas
investments||-equities||||||484,908.54|362,587|
|UK Investments||-fixed Interest||||||189,623.96|287,055|
|||-equities||||||861,162.83|1,039,222|
|||-property||||||83,147.81|120,262|
||||||||6|1,618,843.14|F1,809,126|
|Income from investments||for the year|comprises||the following:|||||
|||||||||2023|2022|
|||||||||6||
|Income from overseas|holdings|||||||12,670.61|11,499|
|Income from UK investments||||||||||
|||-fixed interest||||||3,981.56|4,060|
|||-equities|and unit trusts|||||37,686.64|42,520|
|||-property||||||1,397.86|400|
|||||||||855,736.67|P.58,479|
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|nd balances at5 April 202|3 are represented
by:||||
|---|---|---|---|---|
||Income Fund|Expendable|Total Funds|2022|
||(unrestricted)|Endowment|||
|||E|||
|Investments||1,618,843.14|1,618,843.14|1,809,126|
|Current Assets|151,285.16|95,963.24|247,248A0|212,972|
|Creditors|(44,156.79)||(44,156.79)|(2,014)|
|Total Net Assets|E 107,128.37|E 1,714,806.38|E 1,821,934.75|2,020,084|
|The summary o|f net assets|between|funds for 5Apdl 2|funds for 5Apdl 2|022 was as follows:||||
|---|---|---|---|---|---|---|---|---|
||||Income Fund||Expendable||Total Funds||
||||(unrestricted)||Endowment||||
|||||E|E||||
|Investments|||||1,809,125.95||1,809,125.95||
|Current Assets||||134,859.57|78,112.44||212,972.01||
|Creditors||||(2,013.60)|||(2,013.60)||
|Total Net Assets|||E 132,845.97||E 1,88'7,238.39|E|2,020,084.36||
|6.Summary of|movement|in funds|||||||
|||||2,023|2,023||2,022|2,022|
||||Income Fund||Expendable|Income Fund||Expendable|
||||(unrestricted)||Endowment||(unrestricted)|Endowment|
|||||E|E||E|E|
|Balance brought|forward|||132,845.97|1,887,238.39||91,321|1,835,163|
|Income||||57,737.08|||58,479||
|Expenditure||||(83,454.68)|(12,561.89)||(16,954)|(13,513)|
|Other gains/(losses)|||||(159,880.12)|||65,588|
|Currency losses|||||||||
|Balance carded|forward||8|107,128.37|8 1,71~,806.38|2|132,846|7. 1,887,238|
|Total funds||||2023 -|E 1,821,934.75||2022 -|F 2,020,084|
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|||||Income Fund|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|
|||||(unrestricted)|Endowment|2023|2022|
||||||E|E|E|
|Metro Bank|charges|||93.00||93.00|53|
|Legal and professional||fees||5,940.00||5,940.00|6,096|
|Independent|Examination||fee|440.00||440.00|438|
|||||86,473.00||86,473.00 .|E6,587|
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|||||INCOME FUND|EXPENDABLE|TOTAL|
|---|---|---|---|---|---|---|
|||||(unrestricted)|ENDOWMENT|2022|
|||||F-|6|E|
|INCOME AND EXPENDITURE|||||||
|Income and Endowments||from|||||
|Investment
Income||||58,479,05||68,479.05|
|Total Incoming||||58,479.05||58,479.05|
|EXPENDITURE ON|||||||
|Fundraising
costs|||||||
|Investment
management|fees||||13,512.69|13,512.69|
|Charitable
Expenditure|||||||
|Grants
Supportcosts||||10,367.45
6,687.06||10,367A5
6,587.06|
|Total Expenditure||||16,954.61|13,512.69|30,467.20|
|Net income/(expenditure)
investment
gains||before||41,524.54|(13,512.69)|28,011.86|
|Gains/(losses)
on investments'.|||||||
|Realised
Unrealised|||||(1,183.54)
66,771.47|(1,183.54)
66,771A7|
|Net income/(expenditure)||||41,624.54|52,075.24|93,599.78|
|Other recognised
gains/losses|||||||
|Currency gains/(losses)|||||||
|Net movement offunds||||41,524.54|52,075.24|93,599.78|
|Reconciliation
of Funds|||||||
|Fund Balances broughtforward||||91,321.43|1,835,163,15|1,926,484.58|
|Fund Balances carried forward|||6|132,845.97|61,887,238.39|E2,020,084.36|