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||||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|





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|||for the Year|Ended 5th April|2022|||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||Unrestricted|Endowment|Total|Total|
|||Notes|funds<br>f|fundf|funds<br>6|funds<br>E|
|Income and endowments|from||||||
|Investment<br>income|||126,173||126,173|118,705|
|Expenditure<br>on|||||||
|Raising funds||||16,336|16,336|15,119|
|Charitable<br>activities|||||||
|Charitable<br>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<br>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|





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|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<br>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|





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|f(nvestment<br>inc|ome|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|||||||||5||
|Income from listed investments||||||||126,173|118,703|
|Deposit account|interest||||||||2|
|||||||||126,173|118,705|
|Raising funds||||||||||
|Investment<br>management|||costs|||||||
|||||||||2022|2021|
|||||||||K|6|
|Portfolio management||||||||16,336|15,119|
|Charitable<br>activities costs||||||||||
|||||||Grant||||
|||||||funding|of|||
|||||||activities||Support||
||||||Direct|(see note||costs (see||
||||||Costs<br>5|5)<br>6||note 6)<br>f|Totals<br>5|
|Charitable<br>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<br>Wales||||||||43,888|5,000|
|Island Trust||||||||48,646|15,223|
|Atlantic Pacific||||||||13,000|4,200|
|Pembroke<br>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<br>University||||||||60,000||
|Military Preparation||Training|College|||||14,725||
|||||||||199,038|45,723|






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|Comparatives<br>for the stat|ement<br>offinancial<br>act|ivities|||
|---|---|---|---|---|
|||Unrestricted|Endowment|Total|
|||funds|fund|funds|
|||6|8|5|
|Income and endowments|from||||
|Investment<br>income||118,705||118,705|
|Expenditure<br>on|||||
|Raising funds|||15,119|15,119|
|Charitable<br>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<br>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|






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|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<br>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|





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|Net moveme|nt|in funds,<br>incl|ude|d<br>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<br>6|expended|losses<br>f|in funds<br>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|