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|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||||
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|||||||||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|
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||||||||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|
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||||||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|||||
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|Unrestricted|legacy|||
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|88,089|88,089|
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|||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|
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||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2023f|2023
f.|
|Investment|management|fees|1,548|1,548|
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|1,360|1,360|
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|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|
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||Support|Total|
|---|---|---|
|Direct costs|costs|funds|
|2022|2022|2022|
|832,962|38,805|871,767|
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|||||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|
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|||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|
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||||||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|
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|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|
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|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|
##
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|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|
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|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|
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||||2023|2022|
|---|---|---|---|---|
||||f.||
|Cash|in|hand|264,446|509,156|
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|At 6April||At 5April|
|---|---|---|
|2022|Cash flows|2023|
|509,156|(244,710)|264,446|
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