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2022-04-05-accounts

			Page
Report ofthe Trustees		1	to	3
Report ofthe Independent	Auditors	4	to	5
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements		8	to	13

		for the Year	Ended 5th April	2022
					2022	2021
			Unrestricted	Endowment	Total	Total
		Notes	funds f	fundf	funds 6	funds E
Income and endowments	from
Investment income			126,173		126,173	118,705
Expenditure on
Raising funds				16,336	16,336	15,119
Charitable activities
Charitable activities			10,684		10,684
Grants payable			203,538		203,538	48,723
Direct costs			17,424		17,424	16,858
Total			231,646	16,336	247,982	80,700
Net gains on investments				59,832	59,832	583,390
NET INCOIIIE/(EXPENDITURE)			(105,473)	43,496	(61,977)	621,395
Reconciliation offunds
Total funds brought forward			456,808	3,043,562	3,500,370	2,878,975
Total funds carried forward			351,335	3,087,058	3,438,393	3,500,370

K//		5th	April 2022
					2022	2021
			Unrestricted	Endowment	Total	Total
			funds	fund	funds	funds
		Notes			6	6
Fixed assets
Investments			346,963	3,087,058	3,434,021	3,470,782
Current assets
Debtors		10	5,890		5,890	6,457
Cash at bank			954		954	25,566
			6,844		6,844	32,023
Creditors
Amounts falling due within one year			(2,472)		(2,472)	(2,435)
Net current	assets		4,372		4,372	29,588
Total assets	less current liabilities		351,335	3,087,058	3,438,393	3,500,370
NET ASSETS			351,335	3,087,058	3,438,393	3,500,370
Funds		12
Unrestricted	funds				351,335	456,808
Endowment	funds				3,087,058	3,043,562
Total funds					3,438,393	3,500,370

f(nvestment inc	ome
								2022	2021
								5
Income from listed investments								126,173	118,703
Deposit account	interest								2
								126,173	118,705
Raising funds
Investment management			costs
								2022	2021
								K	6
Portfolio management								16,336	15,119
Charitable activities costs
						Grant
						funding	of
						activities		Support
					Direct	(see note		costs (see
					Costs 5	5) 6		note 6) f	Totals 5
Charitable activities					10,684				10,684
Grants payable						203,538			203,538
Direct costs					14,915			2,509	17,424
					25,599	203,538		2,509	231,646
Grants payable
								2022	2021
								6	5
Grants payable								203,538	48,723
The total grants	paid	to institutions		during the	year was as follows:
								2022	2021
								6	6
Atlantic College								2,000	2,000
Challenge Wales								43,888	5,000
Island Trust								48,646	15,223
Atlantic Pacific								13,000	4,200
Pembroke college								4,792	5,000
St llltyds								8,919
Newport Sea Cadets									6,500
Tenby Sea Cadets									4,800
Milford Sea Cadets									3,000
RYA Cymru								3,068
Plymouth University								60,000
Military Preparation		Training	College					14,725
								199,038	45,723

Comparatives for the stat	ement offinancial act	ivities
		Unrestricted	Endowment	Total
		funds	fund	funds
		6	8	5
Income and endowments	from
Investment income		118,705		118,705
Expenditure on
Raising funds			15,119	15,119
Charitable activities
Grants payable		48,723		48,723
Direct costs		16,858		16,858
Total		65,581	15,119	80,700
Net gains on investments			583,390	583,390
NET INCOME		53,124	568,271	621,395
Reconciliation offunds
Total funds brought forward		403,684	2,475,291	2,878,975
Total funds carried forward		456,808	3,043,562	3,500,370

Fixed asset inve	stments
					Cash and
				Listed	settlements
				investments	pending	Totals
				5	8	6
Market value
At 6th April 2021				3,256,129	214,653	3,470,782
Additions				45,029	372,313	417,342
Disposals				(258,245)	(268,595)	(526,840)
Revaluations				72,737		72,737
At 5th April 2022				3,115,650	318,371	3,434,021
Net book value
At 5th April 2022				3,115,650	318,371	3,434,021
At 5th April 2021				3,256,129	214,653	3,470,782
There were no investment		assets outside the UtL
Cost or valuation	at 5th April 2022 is represented		by:

	Cost or va	lu	ati	on at	5th April 20	22 is represented	by:
									Cash and
								Listed	settlements
								investments	pending	Totals
								8	6	5
	Valuation	in	2022					3,115,650	318,371	3,434,021
10.	Debtors:	amounts			falling due	within one year
									2022	2021
									9	8
	Prepayments			and accrued income					5,890	6,457
11.	Creditors:	amounts			falling due within one year
									2022	2021
									5	E
	Other creditors								2,472	2,435
12.	Movement		in	funds
								Net	Transfers
								movement	between	At
							At 6.4.21	in funds	funds	5.4.22
								6	8	8
	Unrestricted			funds
	General fund						443,342	(105,473)	(10,000)	327,869
	Tars Reardon			Smith	designated	fund	13,466		10,000	23,466
							456,808	(105,473)		351,335
	Endowment		funds
	Permanent		Endowment				3,043,562	43,496		3,087,058
	TOTAL FUNDS						3,500,370	(61,977)		3,438,393

Net moveme	nt	in funds, incl	ude	d in the above	are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
					5			6
Unrestricted		funds
General fund					126,173	(231,646)		(105,473)
Endowment		funds
Permanent	Endowment					(16,336)	59,832	43,496
TOTAL FUNDS					126,173	(247,982)	59,832	(61,977)
Comparatives		for movement		in funds
						Net	Transfers
						movement	between	At
					At6.4.20	in funds	funds	5.4.21
					6		6	5
Unrestricted		funds
General fund					400,218	53,124	(10,000)	443,342
Tare Reardon		Smith designated		fund	3,466		10,000	13,466
					403,684	53,124		456,808
Endowment		funds
Permanent	Endowment				2,475,291	568,271		3,043,562
TOTAL FUNDS					2,878,975	621,395		3,500,370
Comparative		net movement	in	funds, included	in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources 6	expended	losses f	in funds 6
Unrestricted		funds
General fund					118,705	(65,581)		53,124
Endowment		funds
Permanent	Endowment					(15,119)	583,390	568,271
TOTALFUNDS					118,705	(80,700)	583,390	621,395