2023-04-05-accounts

REFERENCE AND	REFERENCE AND	ADMINISTRATIVE	ADMINISTRATIVE	DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS
		FOR THE YEAR ENDED 5APRIL 2023
Trustees		The Hon.	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

								Total
						Unrestricted	Total	funds
						funds	funds	2022
						2023	2023	As Restated
					Note	f.	f.
Income from:
Donations and legacies								88,089
Investments						485,013	485,013	626,632
Total income						485,013	485,013	714,721
Expenditure on:
Raising funds						1,548	1,548	1,360
Charitable activities						1,112,711	1,112,711	871,767
Total expenditure						1,114,259	1,114,259	873,127
Net expenditure		before net (losses)/gains		on
investments						(629,246)	(629,246)	(158,406)
Net (losses)/gains			on investments			(983,583)	(983,583)	1,519,354
Net movement	in		funds			(1,612,829)	(1,612,829)	1,360,948
Reconciliation	of		funds:
Total funds brought			forward			20,406,813	20,406,813	19,045,865
Net movement	in	funds				(1,612,829)	(1,612,829)	1,360,948
Total funds carried forward						18,793,984	18,793,984	20,406,813

							2022
					2023		As Restated
			Note		f.
Fixed assets
Investments			10		19,227,665		20,211,306
					19,227,665		20,211,306
Current assets
Debtors						65,575
Cash at bank	and	in hand		264,446		509,156
				264,446		574,731
Creditors: amounts		falling due within one
year			12	(445,181)		(231,197)
Net current liabilities Iassets					(180,735)		343,534
Total assets	less	current liabilities			19,046,930		20,554,840
Creditors: amounts		falling due after more
than one year			13		(252,946)		(148,027)
Total net assets					18,793,984		20,406,813
Charity funds
Unrestricted	funds		16		18,793,984		20,406,813
Total funds					18,793,984		20,406,813

					As restated
				2023	2022
Cash flows from operating		activities
Net cash	used in operating	activities		(729,781)	1,331,448
Cash flows from investing		activities
Dividends,	interests and rents from investments			485,013	626,632
Proceeds	from sale of investments			6,500,054
Purchase	of investments			(6,499,996)	(2,088,090)
Net cash	provided by/(used in) investing		activities	485,071	(1,461,458)
Cash flows from financing		activities
Net cash	provided by financing activities
Change in cash and cash		equivalents in	the year	(244,710)	(130,010)
Cash and	cash equivalents	at the beginning	ofthe year	509,156	639,166
Cash and	cash equivalents	at the end of	the year	264,446	509,156
The notes	on pages 13to 23 form part ofthese financial statements

		Unrestricted	Total
		funds	funds
		2023	2023
Unrestricted	legacy

Unrestricted	Total
funds	funds
2022	2022
88,089	88,089

		Unrestricted	Total
		funds	funds
		2023f	2023 f.
Interest received on cash deposits		1,177	1,177
Dividends	received	483,836	483,836
		485,013	485,013

Unrestricted	Total
funds	funds
2022	2022
As Restated	As Restated
626,632	626,632

			Unrestricted	Total
			funds	funds
			2023f	2023 f.
Investment	management	fees	1,548	1,548

Unrestricted	Total
funds	funds
2022	2022
1,360	1,360

Grant	making	activities
Grant	making	activities

Unrestricted
funds	Total
2023	2023
f.	f.
1,112,711	1,112,711

Unrestricted
funds	Total
2022	2022
871,767	871,767

	Support	Total
Direct costs	costs	funds
2023	2023	2023
f.	f.	f.
1,070,828	41,883	1,112,711

	Support	Total
Direct costs	costs	funds
2022	2022	2022
832,962	38,805	871,767

				Grant
				making	Total
				activities	funds
				2023	2023
Stationery		and postage		378	378
General	management			21,332	21 332
Audit and		accounting	fees	19,305	19,305
Bank charges				868	868
				41,883	41,883

				Grant
				making	Total
				activities	funds
				2022	2022
Stationery		and postage		2,250	2,250
General	management			22,815	22,815
Audit and		accounting	fees	13,740	13,740
				38,805	38,805

		Grants to	Total
		Institutions	funds
		2023	2023
Grant making activities		1,070,828	1,070,828
		2023	2022
Grants paid in the year		f	f
Arts		199,300	177,800
Community		57,274	33,220
Cultural@ Environmental		52,500	35,000
Disability		144,664	140,217
Education		88,000	69,820
Hardship Allevation		42,570	14,000
MedicalTreatment/Care		102,558	128,816
Social Welfare		68,584	64,520
Total grants paid in the year		755,450	663,393
Grants awarded in prior year		(218,518)	(168,724)
Future commitments awarded	in current year	534,072	349,318
Prior year provision			(3,000)
Total grants paid and awarded	in the year	1,071,464	840,987
Finance charges on discounting	offuture commitments	(636)	(8,025)
Total		1,070,828	832,962
		Grants to	Total
		Institutions	funds
		2022	2022
Grant making activities		832,962	832,962

					UK Equities	OEICs	Total
	Valuation
	At 6 April 2022				1,567,443	18,643,863	20,211,306
	Additions					6,499,996	6,499,996
	Disposals					(6,500,054)	(6,500,054)
	Revaluations				(126,046)	(857,537)	(983,583)
	At 5 April 2023				1,441,397	17,786,268	19,227,665
	Market value
	At 5 April 2023				1,441,397	17,786,268	19,227,665
	At 5April 2022				1,567,443	18,643,863	20,211,306
11.	Debtors
							2022
						2023	As Restated
	Due within one year
	Prepayments	and accrued income					65,575
							65,575
12.	Creditors: Amounts		falling due within one year
						2023	2022
						f.
	Accruals and	deferred	income			16,664	13,139
	Grants accrued - institutional			(see note 14)		428,517	218,058

2023	2022
445,181	231,197

13.	Creditors: Amounts	Creditors: Amounts	falling	due after more than one	year
						2023f	2022
	Grants accrued -	institutional		(see note 14)		252,946	148,027
14.	Grants accrued
						2023	2022
	Opening grant commitments					366,085	196,515
	Opening commitments		paid	in current year		(218,058)	(168,724)
	New commitments	awarded		in the year		534,072	349,318
	Cancelled grants						(3,000)
	Finance charges	on discounting of future commitments			(movement)	(636)	(8,024)
						681,463	366,085

			2023	2022
			f.
Due	within	one year (see note 12)	428,517	218,058
Due	after	one year (see note 13)	252,946	148,027
			681,463	366,085

Stateme	nt o	ffunds - curren	t year
			Balance at 6			Gains/	Balance at 5
			April 2022	Income	Expenditure	(Losses)	April 2023
Unrestricted		funds
General	Funds - all funds		20,406,813	485,013	(1,114,259)	(983,583)	18,793,984

Stateme	nt o	ffunds - prior y	ear
							Balance at
			Balance at			Gains/	5April 2022
			6April 2021	Income	Expenditure	(Losses)	As Restated
Unrestricted		funds
General	Funds - all funds		19,045,865	714,721	(873,127)	1,519,354	20,406,813

Analysis of net assets between funds - current year
	Unrestricted	Total
	funds	funds
	2023	2023
	f.	f.
Fixed asset investments	19,472,299	19,472,299
Current assets	19,812	19,812
Creditors due within one year	(445,181)	(445,181)
Creditors due in more than one year	(252,946)	(252,946)
Total	18,793,984	18,793,984

Analysis ofnet assets between funds - prior year
	Unrestricted	Total
	funds	funds
	2022	2022
	As Restated	As Restated
Fixed asset investments	20,211,306	20,211,306
Current assets	574,731	574,731
Creditors due within one year	(231,197)	(231,197)
Creditors due in more than one year	(148,027)	(148,027)
	20,406,813	20,406,813

												2022
											2023	As Restated
Net income/expenditure		for	the	year	(as		per	Statement	of	Financial
Activities)											(1,612,829)	1,360,948
Adjustments for:
Dividends and interest		from investments									(485,013)	(626,632)
Decrease in debtors											65,575	1,944,387
Increase/(decrease)	in	creditors									318,903	172,099
(Gains)/losses on investments											983,583	(1,519,354)
Net cash provided	by/(used		in)	operating		activities					(729,781)	1,331,448

			2023	2022
			f.
Cash	in	hand	264,446	509,156

At 6April		At 5April
2022	Cash flows	2023
509,156	(244,710)	264,446