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2022-04-05-accounts

Reference and Administrative
Details
Trustees'
Report		 2 —4
Independent
Auditors'
Report		 5 —8
Consolidated
Statement of Financial Activities
Consolidated
Statement of Financial Position		 10—11
Company
Statement of Financial Position		 12
Consolidated
and Charity Statement ofCash Flows		 13
Notes to the Financial Statements 15 —24

Endowment Unrestricted Total Total
Capital Income Group Group
Fund Funds Funds Funds
2022 2022 2022 2021
Notes f f f f
INCOMING RESOURCES
Donations
and legacies
Investment
Property
Rental Income		 1,015,811 1,015,811 931,898
Investment
Income		 1,183,263 1,183,263 834,326
Bank Deposit Interest 2,505 2,505 421
Total Incoming Resources 2,201,579 2,201,579 1,766,645
RESOURCES EXPENDED
Charitable
Activities		 3a 291,726 291,726 265,617
Cost of Generating
Funds		 3b 634,772 634,772 680,087
Governance
Costs		 4 96,448 96,448 97,515
1,022,946 1,022,946 1,043,219
NET INCOMING RESOURCES
Net (Deficit) / Income for the year 1,178,633 1,178,633 723,426
Gains/(loss)
on Disposal		 Fixed Assets 12 (179,052) (179,052) 638,787
Foreign exchange gains/(losses) (14,467) (14,467) 104,162
investment
Revaluation		 gains/(losses) 12 3,721,267 3,721,267 5,807,880
Profit/(losses)
from
Disposal		 of Fixed
Asset Investments 12 122,475 122,475 503,156
Net Movement
in Funds		 3,419,740 1,164,166 4,583,906 6,771,099
ENDOWMENT
CAPITAL		 FUND 8c
REVENUE RESERVES
Brought forward 28,571,504 1,127,068 29,698,572 22,927,473
Funds at 5April 2022 31,991,244 2,291,234 34,282,478 29,698,572

GROUP GROUP
2022 2022 2021 2021
Notes f
FIXEDASSETS
Tangible assets 16,350,000 15,225,000
Investments 18,364,269 16,763,964
Programme
related investments		 1,405,972 1,386,610
36,120,241 33,375,574
CURRENT ASSETS
Debtors 8 391,068 396,956
Cash at Bank and
in Hand		 3,100,459 2,347,606
3,491,527 2,744,562
CREDITORS
Amounts
falling due within
year		 one 10 557,429 927,564
557,429 927,564
NET CURRENT LIABILITIES 2,934,098 1,816,998
TOTAL ASSETS LESSCURRENT
LIABILITIES		 39,054,339 35,192,572
CREDITORS: AMOUNTS FALLING DUE
AFTER ONE YEAR
Bank loan 10 (4,771,861) (5,494,000)
NET ASSETS 34,282,478 29,698,572
THE FUNDS OF CHARITY
Endowment
Capital Fund		 12 31,991,244 28,571,504
Corporate Revenue Reserves 2,291,234 1,127,069
TOTAL FUNDS 34,282,478 29,698,572

GROUP GROUP COMPANY COMPANY
2022 2021 2022f 2021
Cash flows from operating
activities:
Net (expenditure)/income
for the reporting
period		 3,841,871 6,416,322 908,536 1,281,837
Net(gains)/losses
on investments		 (2,961,818) (5,943,511) 228,962 (1,469,029)
Foreign exchange
movements
in investments		 (49,720) 104,162 41,584 80,116
Add: Non-operating
investment
management		 cost (116,441) 51,742 (116,441) 51,742
Less: Non-operating
investment
income reinvested		 1,087,295 180,998 1,035,218 180,998
Decrease/(increase)
in trade and other receivables		 (2,626,015) 198,253 (2,628,583) 71,852
(Decrease)/increase
in trade and trade payables		 2,267,663 1,837,160 159,836 38,798
Net cash from/(used
in) operating
activities		 1,442,805 829,194 690,560 236,314
Cash flows from investing
activities
Proceeds from sale oftangible assets 542,270
Purchases
ofother investments
other than loans		 23,838,627 44,405,357 14,717,271 34,455,751
Proceeds from sale of investments 36,293,465 51,643,292 14,288,294 33,859,310
Net cash from/(used
in) investing
activities		 11,912,568 7,237,935 428,977 596,441
Bank loan and overdrafts 11,222,616 9,306,986
Amount
from creditors amounts
due for more		 than
one year
Net cash used
in financing
activities		 11,222,616 9,528,000
Net increase/(decrease)
in cash and cash
equivalents 752,853 1,239,857 (261,583) 832,755
Cash and cash equivalents
at beginning
of year		 2,347,606 1,107,749 1,761,003 928,248
Cash and cash equivalents
at end ofyear		 3,100,459 2,347,606 1,499,420 1,761,003

2. Incoming Resource s
Endowment Unrestricted
Capital Income
Total Funds		 Total Funds
Fund
f		 Funds
F		 2021
f		 2021
E
Investment
Property		 Rental Income 1,015,811 1,015,811 931,898
Investment
Income		 1,183,263 1,183,263 834,326
Bank Deposit Interest 2,506 2,506 421
2,201,579 2,201,579 1,766,645
3a. Charitable
Activities
Endowment Unrestricted Total Total
Funds Funds 2022 2021
E E
Grant making 291,726 291,726 265,617
Charity and Group Total 291,726 219,726 265,617
3b. Cost ofGenerating Funds
Estate Management Costs
Ground
Rent		 18,462 18,462 18,462
Insurance 1,107 1,107 1,107
Property
management		 fees 17,286 17,286 17,286
Letting Fees 18,262 18,262 18,262
Administration
expenses		 45,920 45,920 45,920
Directors salaries & Nl 191,646 191,646 191,646
Travel and subsistence 20,080 20,080 20,080
Legal Fees 73,659 73,659 73,659
Total Estate Management Costs 386,422 386,422 386,422
Finance Costs
Financial Costs 1,433 1,433 62,362
Bank Charges 12,086 12,086 11,707
Bank Loan Interest 209,312 209,312 225,134
Investment
management		 cost 25,519 25,519 53,770
Total Finance Costs 248,350 248,350 352,972
Group Total Cost of Generating Funds 634,772 634,772 680,087
4. Governance
Cost
Professional
Fees		 59,375 59,375 1,500
Accountancy
Fees		 17,577 17,577 82,179
Auditors'
Remuneration		 (Charity) 19,496 19,496 13,836
Charity
and Group		 Total 96,448 96,448 97,515

amounted
tof11,700,09
Investments
Group Investments		 9(2 0 21:f12,34
4,414)at		 the balance sh eet date.
Listed Investments Other
Company Subsidiary Investments Total
Unlisted
Investments		 F
~Sharehotdin
At 6April 2021 39 39
Additions/transfer
Disposal/other
movement		 19 19
(a) 20 20
Loan Advances
At 6April 2021 4,047,311 4,047,311
Advanced
in the year		 10,250 10,250
Repaid
in the year		 1,681,122 1,681,124
At 5April 2022 (b) 2,376,439 2,376,439
Total unlisted
investments
at cost as at 5April 2022		 held (a+b) 2,376,459 2,376,459
Listed investments
At 6April 2021 1,849,783 10,866,835 12,716,618
Net Cash injection during the year
Movement
in cash balances		 546,295 9,086,344 9,632,639
Movement
in fiduciary		 deposits (225,856) (225,856)
Movement
in shares		 / bonds (1,284,901) (6,673,308) (7,958,209)
Movement
in time loans		 791,178 1,031,440 1,822.618
Total listed investments
held at
fair value as at 5April 2022		 (c) 1,902,355 14,085,455 15,987,810

Itt
nvesmens
/continued)
Listed investments
Listed Investments Other
Company
F		 Subsidiary
Investments
f		 Total
F
Balance carried forward
At 5April 2022 1,902,355 14,085,455 2,376,459 18,364,269
At 5April 2021 1,849,779 10,866,834 5,433,969 18,150,574
Company
Investments
Unrestricted
Funds		 Endowment
Funds
Total Funds
Year to
5Apr 22		 Total Funds
Year to
5 Apr 21
f.
Group undertakings 16,990,468 16,990,468 11,514,541
(Profit)/loss
on revaluation		 of
investment
in subsidiary
undertaking 3,650,153 3,650,153 5,475,928
Other investments (a+b) 2,376,459 - 2,376,459 4,047,347
Listed investments (c) 1,902,355 1,902,355 1,849,783
Total Company
investment		 4,278,814 20,640,621 24,919,435 22,887,599
Analysis of Investments
(I)
Other Investments		 —Grou and Com an
Loan Total
Shareholding Cost of Investments Advances Investments
shares as at 5April (Repaid)
/		 as at 5April
Company 2021 advanced 2022
Edinburgh
Sainsbury		 Group
Holdings
Limited		 10% 10 (2)
Royal Docks Hotel Group
Holdings
Limited		 5%
Marine Point Group Holdings
Limited 5 538,491 538,496
M22 Portfolio Property Limited 10% 10 639,833 (90,000) 549,843
Theobalds
Park Property
Limited 5% 1,074,995 10,250 1,085,250
Project Spirit Property Limited 4% 1,583,495 (1,583,496)
Marine Point Freehold Group
Holdings
Limited		 210,495 7,625 202,870
(a+b) 39 4,047,311 1,670,871 2,376,459

8. Group Debto rs
2022 2021f
Other Debtors 351,881 336,144
Prepayments and Accrued Income 39,187 60,812
391,068 396,956
9. Company
Debtors
2022 2021
E
Other Debtors 1,620
Loan receivable from group undertaking 6,450,755 3,812,987
Prepayments and Accrued Income 36,894 38,593
6,487,649 3,853,200
10. Group Creditors
Amounts
falling		 due within one year
2022f 2021f
Bank Loans 184,000 184,000
Social security and other taxes 48,663 51,726
Derivative
financial		 liability 7,846 274,024
Other creditors 249,895 249,558
Accruals and deferred income 67,025 168,256
557,429 927,564
The following liabilities disclosed above under creditors falling due within one year are secured falling due within one year are secured by
the group:
Bank Loans 184,000 184,000
Group Creditors
Amounts
falling due after more than one year
2022 2021
E E
Bank loans 4,771,861 5,494,000
4,771,861 5,494,000

Amounts falling due within one within one year year
2022 2021
F
Accruals and deferred
income		 30,002 49,887
Social security and other taxes 3,783
Derivative financial liability 136,169
Other creditors
30,002 189,839
12. Group Endowment
Capital		 Fund
2021 2020
F F
Balance brought
forward		 28,571,504 22,627,993
Revaluation offixed assets 2,825,000 516,000
Gains/(Losses)
on revaluation		 and fair value
movements in investments 896,267 5,291,880
Share of Profits/(Losses) from Investments (122,475) (503,156)
Gain on disposal oftangible asset 179,052 638,787
31,991,246 28,571,504
13. Auditors remuneration
2022 2021
F
Fees payable
for the		 audit ofthe financial statements 19,496 13,836
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2022 2021
f
Wages and salaries 191,646 177,607
Employer
contributions		 to pension plans 1,262
191,646 179,869