| Trustees | The Hon. | Susan Gina Lacroix | Susan Gina Lacroix | |
|---|---|---|---|---|
| The Hon. | Laura Helen | Weinstock | ||
| The Hon. | Clare Renton | |||
| Charity registered | ||||
| number | 1150031 | |||
| Principal office | PO Box5369 | |||
| Wincanton | ||||
| Somerset | ||||
| BA9 OBG | ||||
| Consultant | Mrs Sally | Barber | ||
| PO Box5369 | ||||
| Wincanton | ||||
| Somerset | ||||
| BA9 OBG | ||||
| Independent | auditors | BKLAudit | LLP | |
| Chartered | Accountants | |||
| Statutory | Auditor | |||
| 35 Ballards Lane | ||||
| London | ||||
| N3 1XW | ||||
| Bankers | C. Hoare | 8 Co. | ||
| 37 Fleet Street | ||||
| London | ||||
| EC4P 4DQ | ||||
| Investment | Managers | Troy Asset Management | Limited | |
| 33 Davies | Street | |||
| London | ||||
| W1K4BP |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| Note | f. | f. | ||||
| Income from: | ||||||
| Donations and legacies |
88,089 | 88,089 | 2,000,000 | |||
| Investments | 804,411 | 804,411 | 464,966 | |||
| Total income | 892,500 | 892,500 | 2,464,966 | |||
| Expenditure on: |
||||||
| Raising funds | 1,360 | 1,360 | 2,205 | |||
| Charitable activities |
871,767 | 871,767 | 296,790 | |||
| Total expenditure | 873,127 | 873,127 | 298,995 | |||
| Net income before net gains on investments | 19,373 | 19,373 | 2,165,971 | |||
| Net gains/(losses) | on investments | 1,519,354 | 1,519,354 | 1,745,538 | ||
| Net movement in |
funds | 1,538,727 | 1,538,727 | 3,911,509 | ||
| Reconciliation | offunds: | |||||
| Total funds brought | forward | 19,045,865 | 19,045,865 | 15,134,356 | ||
| Net movement in |
funds | 1,538,727 | 1,538,727 | 3,911,509 | ||
| Total funds carried forward | 20,584,592 | 20,584,592 | 19,045,865 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | f. | |||||
| Fixed assets | ||||||
| Investments | 20,211,306 | 16,603,863 | ||||
| 20,211,306 | 16,603,863 | |||||
| Current assets | ||||||
| Debtors | 243,354 | 2,009,962 | ||||
| Cash at bank and | in hand | 509,156 | 639,166 | |||
| 752,510 | 2,649,128 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 12 | (231,197) | (179,334) | |||
| Net current assets | 521,313 | 2,469,794 | ||||
| Total assets less | current liabilities | 20,732,619 | 19,073,657 | |||
| Creditors: amounts | falling due after more | |||||
| than one year | 13 | (148,027) | (27,792) | |||
| Total net assets | 20,584,592 | 19,045,865 | ||||
| Charity funds | ||||||
| Unrestricted funds |
15 | 20,584,592 | 19,045,865 | |||
| Total funds | 20,584,592 | 19,045,865 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Note | |||||||
| Cash flows from operating | activities | ||||||
| Net cash | used in operating |
activities | 17 | 1,153,669 | (608,538) | ||
| Cash flows from investing | activities | ||||||
| Dividends, | interests and rents from investments |
804,411 | 464,966 | ||||
| Proceeds | from sale of investments | 19,159 | |||||
| Purchase | of investments | (2,088,090) | |||||
| Net cash | (used in)/provided | by investing | activities | (1,283,679) | 484,125 | ||
| Change in cash and cash |
equivalents in |
the year | (130,010) | (124,413) | |||
| Cash and | cash equivalents | at the beginning | ofthe year | 639,166 | 763,579 | ||
| Cash and | cash equivalents | at the end of | the year | 18 | 509,156 | 639,166 | |
| The notes | on pages 13to 23 form part ofthese financial statements |
| Unrestricted | Total | Total |
|---|---|---|
| funds | funds | funds |
| 2022 | 2022 | 2021 |
| 88,089 | 88,089 | 2,000,000 |
| 2,000,000 | 2,000,000 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| f. | f. | |||
| Dividends | received | 804,411 | 804,411 | 464,966 |
| Total 2021 | 464,966 | 464,966 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| Investment | management | fees | 1,360 | 1,360 | 2,205 |
| Total 2021 | 2,205 | 2,205 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022f | 2022f | 2021 | ||
| Grant making | activities | 832,962 | 832,962 | 261,781 |
| Support costs | 38,805 | 38,805 | 35,009 | |
| 871,767 | 871,767 | 296,790 | ||
| Total 2021 | 296,790 | 296,790 |
| Support | Total | Total | |||
|---|---|---|---|---|---|
| Direct costs | costs | funds | funds | ||
| 2022 f. |
2022 f. |
2022 f. |
2021f | ||
| Grant making | activities | 832,962 | 832,962 | 261,781 | |
| Support costs | 38,805 | 38,805 | 35,009 | ||
| 832,962 | 38,805 | 871,767 | 296,790 | ||
| Total 2021 | 261,781 | 35,009 | 296,790 |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2021 | ||||
| Stationery | and postage | 2,250 | 2,250 | 2,400 | ||
| General | management | 22,815 | 22,815 | 22,349 | ||
| Audit and | accounting | fees | 13,740 | 13,740 | 10,260 | |
| 38,805 | 38,805 | 35,009 | ||||
| Total 2021 | 35,009 | 35,009 |
| Grants to | Total | Total | |||
|---|---|---|---|---|---|
| Institutions | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| Grant | making | activities | 832,962 | 832,962 | 261,781 |
| Total | 2021 | 261,781 | 261,781 |
| Analysis ofgrants (continued | ) | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Grants paid in the year |
||||
| Arts | 177,800 | 197,805 | ||
| Community | 33,220 | 33,672 | ||
| Cultural & Environment |
35,000 | 23,500 | ||
| Disability | 140,217 | 103,943 | ||
| Education | 69,820 | 77,775 | ||
| Hardship Alleviation |
14,000 | 22,450 | ||
| Medical Treatment/Care | 128,816 | 121,330 | ||
| Social Welfare | 64520 | |||
| Total grants paid in the year |
663,393 | 580,475 | ||
| Grants awarded in prior years |
(168,724) | (327,476) | ||
| Future commitments awarded |
in | current year | 349,318 | 25,000 |
| Prior year overprovision | 3000 | (12,000) | ||
| Total grants paid and awarded |
in the year | 840,987 | 265,999 | |
| Finance charges on discounting | of future commitments | (8,025) | (4,218) | |
| Total | 832 962 | 261 781 |
| UK Equities | OEICs | Total | |
|---|---|---|---|
| Valuation | |||
| At 6 April 2021 | 1,453,595 | 15,150,268 | 16,603,863 |
| Additions | 2,088,089 | 2,088,089 | |
| Revaluations | 113,848 | 1,405,506 | 1,519,354 |
| At 5 April 2022 | 1,567,443 | 18,643,863 | 20,211,306 |
| Market value | |||
| At 5 April 2022 | 1,567,443 | 18,643,863 | 20,211,306 |
| At 5April 2021 | 1,453,595 | 15,150,268 | 16,603,863 |
| Debtors | |||
| 2022 | 2021 | ||
| Due within one year | |||
| Prepayments and accrued income |
243,354 | 9,962 | |
| Legacy receivable | 2,000,000 | ||
| 243,354 | 2,009,962 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Accruals and deferred | income | 13,139 | 10,610 | ||
| Grants accrued | —institutional | (see note 14) | 218,058 | 168,724 | |
| 231,197 | 179,334 |
| 2022 | 2021 |
|---|---|
| f. | |
| 148,027 | 27,792 |
| Grants a | ccrued | ||||||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| Opening | grant commitments | 196,515 | 505,209 | ||||
| Opening | commitments | paid | in | current year | (168,724) | (327,476) | |
| New commitments | in | the year | 349,318 | 25,000 | |||
| Cancelled | grants | (3,000) | (2,000) | ||||
| Finance charges | on discounting | offuture commitments | (8,024) | (4,218) | |||
| 366,085 | 196,515 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f. | ||||
| Due | within | one year (see note 12) | 218,058 | 168,724 |
| Due | after | one year (see note 13) | 148,027 | 27,791 |
| 366,085 | 196,515 |
| Balance at 6 | Gains/ | Balance at 5 | |||||
|---|---|---|---|---|---|---|---|
| April 2021 | Income | Expenditure | (Losses) | April 2022 | |||
| Unrestricted | funds | ||||||
| General | Funds - all funds | 19,045,865 | 892,500 | (873,127) | 1,519,354 | 20,584,592 | |
| Statement offunds - prior year | |||||||
| Balance at | Gains/ | Balance at | |||||
| 6April 2020 | Income | Expenditure | (Losses) | 5April 2021 | |||
| Unrestricted | funds | ||||||
| General | Funds - all funds | 15,134,356 | 2,464,965 | (298,994) | 1,745,538 | 19,045,865 |
| Analysis of net assets between funds - current year | ||
|---|---|---|
| Unrestricted | Total | |
| funds | funds | |
| 2022 | 2022 | |
| f. | f. | |
| Fixed asset investments | 20,211,306 | 20,211,306 |
| Current assets | 752,510 | 752,510 |
| Creditors due within one year | (231,197) | (231,197) |
| Creditors due in more than one year | (148,027) | (148,027) |
| Total | 20,584,592 | 20,584,592 |
| Analysis of net assets between funds (continued) Analysis ofnet assets between funds - prior year |
||
|---|---|---|
| Unrestricted | Total | |
| funds | funds | |
| 2021 | 2021 | |
| Fixed asset investments | 16,603,863 | 16,603,863 |
| Current assets | 2,649,128 | 2,649,128 |
| Creditors due within one year | (179,334) | (179,334) |
| Creditors due in more than one year | (27,791) | (27,791) |
| l | 19,045,866 | 19,045,866 |
| 17. | Reconciliation of |
net movement | in funds to net cash flow from operating | in funds to net cash flow from operating | in funds to net cash flow from operating | activities | |
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| f. | |||||||
| Net income for the | year (as per Statement | of Financial | Activities) | 1,538,727 | 3,911,509 | ||
| Adjustments for: |
|||||||
| Dividends and interest from investments |
(804,411) | (464,966) | |||||
| Decrease/(increase) | in debtors | 1,766,608 | (1,995,370) | ||||
| Increase/(decrease) | in creditors | 131,154 | (314,173) | ||||
| (Gains)/losses on |
investments | (1,519,354) | (1,745,538) | ||||
| Net cash provided | by/(used in) |
operating | activities | 1,112,724 | (608,538) | ||
| 18. | Analysis ofcash | and cash equivalents | |||||
| 2022 | 2021 | ||||||
| Cash in hand |
509,156 | 639,166 |
| At 6April | At 5April | |
|---|---|---|
| 2021 | Cash flows | 2022 |
| 639,166 | (130,010) | 509,156 |