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2022-12-31-accounts

Reference and Administrative
Details		 Reference and Administrative
Details
Trustees'
Report		 2 —9
Statement
of Trustees'		 Responsibilities 10
Independent
Auditor's		 Report 11 —14
Consolidated
Statement
of Financial Activities		 15 —16
Consolidated
Balance		 Sheet 17
Balance Sheet 18
Consolidated
Statement
of Cash Flows		 19
Notes to the Financial Statements 20 —32

Founder The Late Hon Mrs Isobel Cooper-Heyman
Trustees Mrs S C Gardiner
Mrs V M Westhorp
Mr M Mogford
Mr M J Starkey
Mr P Metcalfe
Ms E Gardiner
Secretary D B McManus
Correspondence address AC Mole
Stafford House
Blackbrook Park Avenue
Taunton
TA1 2PX
Auditor Alexandra
Shore FCA CTA DChA
A C Mole
Stafford House
Blackbrook Park Avenue
Taunton
TA1 2PX
Principal bankers CAF Bank Ltd
25 Kings
Hill Avenue
Kings
Hill,
West Mailing
Kent
ME194JQ
Investment advisors J M Finn &Co Ltd
4Coleman Street
London
EC2R 5TA
Solicitors Bates Wells & Braithwaite London LLP
Scandinavian House
2-6 Cannon Street
London
EC4M 6YH
Charity Registration Number 1157779

4.2
Review		 of 2022 activities and achievement and achievement and achievement ofthe objectives ofthe objectives
~ Grants
awarded		 totalled E477,948. The grants were awarded to the
following
partner organisations:
~ s.
.
~
Suffolk Community Foundation F80,000
Kent Community Foundation f40,000
Berkshire Communit Foundation E80,000
Wiltshire
Community		 Foundation E80,000
Tyne 8 Wear and Northumberland Community Foundation E80,000
Quartet
Community		 Foundation E50,000
Voice4Change E48,322
Kissing
it Better		 E19,626
Total
aid		 f477,948

Unrestricted Designated Total
funds funds 2022
Note
Income from:
Other trading
activities		 642,495 642,495
Investment
income		 131,677 131,677
Total Income 774,172 774,172
Expenditure
on:
Raising funds 5 (193,341) (193,341)
Charitable
activities		 6 (493,975) (493,975)
Other expenditure 11 43,142 (43,142)
Total Expenditure (730,458) (730,458)
Net (losses) on investment assets 12 (913,442) 913,442)
Net expenditure (869,728) (869,728)
Transfers
between		 funds
Net movement
in funds		 (869,728) (869,728)
Reconciliation
offunds
Total funds brought forward 6,095,907 8,080,000 14,175,907
Total funds carried forward 16 5226179 8080000 13306179

Unrestricted Designated Total
Note funds
f		 funds 2021f
Income from:
Other trading
activities		 620,021 620,021
Investment
income		 128,223 128,223
Totallncome 748,244 748,244
Expenditure
on:
Raising funds 5 (146,515) (146,515)
Charitable
activities		 6 (501,930) (501,930)
Other expenditure 11 38,633) (38,633)
Total Expenditure (687,078) (687,078)
Net gains on investment assets 12 517,516 517,516
Net income 578,682 578,682
Transfers
between		 funds
Net movement
in funds		 578,682 578,682
Reconciliation
offunds
Total funds brought forward 5,517,225 8,080,000 13,597,225
Total funds carried forward 16 6,095,907 8,080,000 14,175,907

2022 2021
Note E f
Fixed assets
Investments 13 12,073,164 13,015,749
Current assets
Debtors 27,191 22,269
Cash at bank and in hand 1,372,325 1,302,910
1,399,516 1,325,179
Creditors: Amounts falling due within one year 15 166,501 165,021
Net current assets 1,233,015 1,160,158
Net assets 13,306,179 14,175,907
Funds ofthe group:
Unrestricted funds 5,226,179 6,095,907
Designated funds 8,080,000 8,080,000
Total funds 16 13,306,179 14,175,907

CHARITY BA LANCE SHEET AS AT 31 DECEMBER 2022
Note 2022
8		 2021
f
Fixed assets
Investments 13 13,146,495 13,989,147
Current assets
Debtors 14 1,925 2,822
Cash at bank and in hand 178,583 206,392
180,508 209,214
Creditors: Amounts falling due within one year 15 20,824 22,454
Net current assets 159,684 186,760
Net assets 13,306,179 14,175,907
Unrestricted funds 5,226,179 6,095,907
Designated funds 8,080,000 8,080,000
Total funds 16 13,306,179 14,175,907

Note 2022 2021
Cashflowe from operating
activities
Net cash (used in) operating
activities		 (91,405) (73,380)
Cashflowe from investing
activities
Dividends,
interest and rent from investments		 131,677 128,223
Proceeds from sale of investments 540,791 364,711
Purchase of investments (574,215) (297,250)
Net cash provided
by investing
activities		 98,253 195,684
Change
in cash and cash equivalents		 in the reporting period 6,848 122,304
Cash and cash equivalents
at the beginning		 of the year
1,366,645 1,244,341
Cash and cash equivalents
at the end		 ofthe year 1,373,493 1,366,645
Cash and cash equivalents
Cash in hand 1,372,325 1,302,910
Cash held within
investment
portfolio		 1,168 63,735
1,373,493 1,366,645
Reconciliation
ofnet (expenditure)/income		 to net cashf low from operating
activities
Net (expenditure)/income
for the period as		 per the
Statement of Financial Activities (869,728) 578,682
Adjustments
for:
Losses/(Gains)
on investments		 913,442 (517,516)
Dividends,
interest and rents from investments		 (131,677) (128,223)
(Increase)/Decrease
in debtors		 (4,922) 4,361
Increase/(Decrease)
in creditors		 1,480 (10,684)
Net cashf low from operating
activities		 (91,405) (73,380)

Total Total
2022 2021
E
Dividends receivable from listed investments 95,960 97,732
Income from rents 25,546 25,548
Interest receivable on bank deposits 10,171 4,943
131,677 128,223

Total Total
2022 2021
E
Property expenses 85,606 31,524
Portfolio management fees 95,687 105,191
Other governance costs 12,048 9,800
193,341 146,515

Total Total
2022f 2021f
Direct grants to organisations 477,948 486,150
Governance costs - Note 7 16,027 15,780
493,975 501,930
Direct grants to organisations:
Suffolk Community Foundation 80,000 80,000
Kent Community
Foundation		 40,000 80,000
Berkshire Community Foundation 80,000 80,000
Wiltshire
Community		 Foundation 80,000 80,000
Tyne & Wear and Northumberland Community Foundation 80,000 80,000
Voice4Change 48,322
In Deep Community Task Force 5,830
Guernsey
Voluntary		 Service 10,494
Kissing
it Better		 19,626 19,826
Quartet
Community		 Foundation 50,000 50,000
477,948 486,150

Governance costs
Total Total
2022 2021
f f
Audit ofthe financial statements (note 10) 10,650 10,808
Consultancy fees 3,672 3,033
Trustee expenses 50
Other governance costs 1,655 1,939
16,027 15,780

9
Staff costs
The aggregate
payroll		 costs were as follows:
2022
E		 2021f
Staff costs during the year were:
Payments
to individuals		 for services as Directors 57,400 56,200

2022f 2021
Audit ofthe financial statements 9,210 8,030
Taxation 1,440 930
Other 1,848
10,650 10,808

12 Net gains/(losses) on investments on investments on investments
2022 2021
E f
Net realised investment (loss)/gain on disposal of investments (92,366) 11,780
Revaluations (821,076) 505,736
Net (losses)/gains
on		 investments (913,442) 517,516
13Fixed Asset Investments
Group
2022 2021
f f
Investment
properties		 8,681,364 8,681,364
Listed investments 3,391,800 4,334,385
12,073,164 13,015,749
Investment
properties
Investment
properties
f
Cost or Valuation
At1 January 2022 8,681,364
Revaluation
At 31 December 2022 8,681,364
Net book value
At 31 December 2022 8,681,364
At 31 December 2021 8,681,364
Listed investments 2022f 2021
E
Cost or Valuation
Market Value at 1 January 4,270,650 3,862,746
Acquisitions
at cost		 574,215 297,250
Disposals (633,157) (352,931)
Revaluation (821,076) 463,585
Market Value at 31 December 3,390,632 4,270,650
Cash held within the investment portfolio 1,168 63,735
3,391,800 4,334,385

Charity
2022 2021
Investment properties 870,000 870,000
Shares in group undertakings and participating interests 8,884,695 8,784,762
Listed investments 3,391,800 4,334,385
13,146,495 13,989,147
Investment
properties
Investment
properties
B
Cost or Valuation
At 1 January 2022 870,000
Re va
Iuat ion
At 31 December 2022 870,000
Net book value
At 31 December 2022 870,000
At 31 December 2021 870,000

Shares in group undertakings and participating
interests
Subsidiary
undertakings Total
E
Cost
At 1 January 2022 8,784,762 8,784,762
Revaluation 99,933 99,933
At 31 December 2022 8,884,695 8,884,695
Net book value
At 31 December 2022 8,884,695 8,884,695
At 31 December 2021 8,784,762 8,784,762
Listed investments
2022 2021
F E
Cost or Valuation
MarketValueat1 January 4,270,650 3,862,746
Acquisitions
at cost		 574,215 297,250
Disposals (633,157) (352,931)
Revaluation 821,076) 463,585
Market Value at 31 December 3,390,632 4,270,650
Cash held within investment portfolio 1,168 63,735
3,391,800 4,334,385

Group
Balance at 31
Balance at 1 Other December
January 2022 Income Expenditure recognised 2022
E (losses) E
General 6,095,907 774,172 (730,458) (913,442) 5,226,179
Designated 8,080,000 8,080,000
Total funds 14,175,907 774,172 730,458) (913,442) 13,306,179
Other Balance at 31
Balance at 1 recognised December
January 2021
E		 Income Expenditure
E		 gains
f		 2021
General 5,517,225 748,244 (687,078) 517,516 6,095,907
Designated 8,080,000 8,080,000
Total funds 13,597,225 748,244 (687,078) 517,516 14,175,907
Charity
Other Balance at 31
Balance st 1 recognised December
January 2022 Income Expenditure (losses) 2022
E E E E
Unrestricted funds
General 6,095,907 472,467 (528,686) (813,509) 5,226,179
Designated 8,080,000 8,080,000
Total funds 14,175,907 472,467 528,686) (813,509) 13,306,179
Other Balance st 31
Balance st 1 recognised December
January 2021 Income Expenditure gains 2021
E
Unrestricted
General 5,517,225 623,313 (542,433) 497,802 6,095,907
Designated 8,080,000 8,080,000
Total funds 13,597,225 623,313 (542433) 497,802 14,175,907

Group
2022
Unrestricted Designated Total
funds Funds Funds
E
Fixed asset investments 3,993,164 8,080,000 12,073,164
Current assets 1,399,516 1,399,516
Current babilities 166,501) (166,501)
Totalnet assets 5,226,179 8,080,000 13,306,179

Charity
2022
Unrestricted Designated Total
Funds Funds Funds
E
Fixed asset investments 5,066,495 8,080,000 13,146,495
Current assets 180,508 180,508
Current liabilities 20,824) 20,824)
Total net assets 5,226,179 8,080,000 13,306,179
Group
2021
Unrestricted Designated Total
Fundsf Funds
8		 Fundsf
Fixed asset investments 4,935,749 8,080,000 13,015,749
Current assets 1,325,179 1,325,179
Current liabilities 165,021) 165,021)
Total net assets 6,095,907 8,080,000 14,175,907
Charity
2021
Unrestricted Designated Total
Funds Funds Funds
E'
Fixed asset investments 5,909,147 8,080,000 13,989,147
Current assets 209,214 209,214
Current liabilities 22,454) 22,454)
Total net assets 6,095,907 8,080,000 14,175,907