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|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|||
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|||||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|
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|||||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|
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|||||||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|||||||
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|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2022|2022|2021|
|88,089|88,089|2,000,000|
|2,000,000|2,000,000||
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|||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||
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||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
|Investment|management|fees|1,360|1,360|2,205|
|Total 2021|||2,205|2,205||
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|||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||
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||||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||
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|||||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||
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||||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||
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|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|
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||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|
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|||||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|
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||||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|
##
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|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|
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|At 6April||At 5April|
|---|---|---|
|2021|Cash flows|2022|
|639,166|(130,010)|509,156|
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