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