## ## |Contents||||Page| |---|---|---|---|---| |Reference and administrative|details ofthe trust,|its trustees|and advisors|| |Annual
report of the trustees||||3-6| |Independent
Auditor's
report||||7-9| |Statement
of financial
activities||||10| |Balance sheet||||| |Statement
ofcash flows||||| |Notes to the financial
statement||||13-19| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Note|2022|2021| |---|---|---|---|---|---|---| ||||||Total|Total| ||||||F|E| |Income and endowments||||||| |Investment
income||||||| |- Dividends
& interest from investments|||||584,087.45|497,837.60| |- Interest on cash deposits|||||49.30|2,485.02| |Total income and endowments|||||584, 136.75|500,322.62| |Expenditure||||||| |Cost of raising funds||||||| |Investment
management|costs||||124,318.40|98,076.69| |Charitabie
activities||||||| |Grants|||||943,500.00|740,064.00| |Support costs||||||| |Administration
costs|||||27,014.99|24,974.40| |Governance
costs: audit|||||5,580.00|4,110.00| |Cost ofgrant making|||||976,094.99|769,148.40| |Total expenditure|||||1,100,413.39|867,225.09| |Gains on investments||||||| |- realised|||||200,454.60|124,324.09| |- unrealised|||||1,131,888.92|7,073,980.18| |Net income and net movement||in funds|||816,066.88|6,831,401.80| |Reconciliation
of Funds||||||| |Fund balances brought||||||| |forward at 5 April 2021|||||29,511,525.10|22,680,123.30| |Fund balances carried forward||||||| |at 5 April 2022|||||30,327,591.98|29,511,525.10| |All activities of the trust relate to||continuing|operations.|||| ||||Note|2022||2021| |---|---|---|---|---|---|---| |||||E||F| |Net cash (used in) operating|activities||13|1,057,841.39||867,435.09| |Cash flows from investing
activities:||||||| |Dividends
& interest from|investments|||584,087.45||497,837.60| |Interest on cash deposits||||49.30||2,485.02| |Purchase of investments||||( 1,301,923.67)|(|3,466,130.82)| |Proceeds from sale of investments||||2,708,302.19||1,605,834.09| |Net cash provided
by/(used|in) investing|activities||1,990,515.27||1,359,974.11| |Increase/(decrease)
in cash|and cash equivalents||in the year|932,673.88|(|2,227,409.20)| |Cash and cash equivalents
brought
forward||||2,282,109.10||4,509,518.30| |Cash and cash equivalents|carried forward|||3,214,782.98||2,282,109.10| ## ## ## ## ## ## ## ## ## ## ## ## ## |||||For t|he|year ended|5April 2|022||| |---|---|---|---|---|---|---|---|---|---|---| |Charitable
expenditure|||||||||2022|2021| |Grants:||||||||||| |Primary
The prevention
or relief of poverty|||||||||20,000.QO|70,000.00| |The advancement
of education|||||||||115,000.00|66,000.00| |The advancement
of health or||the saving of lives|||||||317,500.00|245,500.00| |The advancement
of the arts,|culture,|||heritage|or|science|||310,000.00|133,500.00| |Secondary||||||||||| |The advancement
of citizenship||or community|||development|||||| |The advancement
ofamateur|sport||||||||26,000.00|98,664.00| |The advancement
of environmental|||protection||or|improvement|||20,000.00|54,400.00| |The relief ofthose
in need, by
hardship
or other disadvantage||reason||of youth,|age, ill-health,||disability,|financial|135,000.00
943,500.00|72,000.00
740,064.00| |Support costs
Administration
costs|||||||||27,014.99|24,974.40| |Governance
costs
—audit fee|||||||||5,580.00|4,110.00| |Total cost of grant making|||||||||976,094.99|769,148.40| ||||||||||2022|2021| ||||||||||F|E| |Grants to institutions:|||||Payment
Date|||||| |Scottish Seabird Centre||||||29/5/20||||10,000.00| |Cambridge
Science Centre
Medecins Sans Frontiers
(UK)||||||29/5/20
29/5/20||||15,000.QO
30,000.00| |Disabled Sailors Association||||||1/6/20||||21,000.QQ| |Contact A Family||||||9/6/20||||10,000.00| |Papworth
Trust Appeal
Fund
The Alan Turing
Institute||||11/06/20 8 23/11/20
24/6/20||||||17,000.00
30,000.00| |Open Hand Productions
Campaign
for National
Parks
Roald Dahl's Marvellous
Children's|||Charity|||20/7/20
7/8/20
13/8/20||||25,000.00
10,Q00.00
30,000.00| |Scottish Documentary
Institute||||||14/8/20||||16,000.00| |No Gain No Pain||||||14I8/20||||15,000.00| |Level Water||||||21/8/20||||15,000.00| |Marine Conservation
Society||||||21/8/20||||20 QQQ 00| |Care Network
Cambridgeshire||||||9/9/20||||20,Q00,00| |The Wheelchair
Football Association||||CIO||25I9/20||||12,664.00| |Outward
Bound Trust||||||15/10/20||||10,000.00| |The Back-Up Trust||||||15/10/20||||10,000.00| |Ecological Continuity
Trust
Abandofbrothers||||||15/10/20
16I10/20||||20,000.00
15,000.00| |Mary's Meals||||||20/10/20||||30,Q00.00| |Peer Productions||||||20/10/20||||5,000.00| |British Disabled
Angling
Association||||||20I10/20||||10,000.00| |Douglas Bader Foundation
Greenfingers
Charity||||||21/10/20
9/12/20||||15,000.00
10,000.00| |Derbyshire
Wildlife Trust
GreenSeas Trust||||||13/1/21
14/1/21||||3,000.00
4,400.00| |Edinburgh
Science||||||14/1/21||||11,000.00| |473367
||||||||||Brodies| ## ## ## |Grants to institutions
co|nt'|d|:|||||||2022|2021| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Payment
Date|||E|| |London
Handel
Society||||||||14/1/21|||50,000.QQ| |Addenbrooke's
Charitable|Trust|||||||14/1/21|||75,000.00| |Cool Earth Ltd||||||||14/1/21|||30,000.00| |Orchestra
ofthe Age of Enlightenment||||||||15/1/21|||37,500.00| |Sports Aid Trust||||||||15/1/21|||20,000.00| |The Egmont Trust||||||||15I1/21|||62,500.00| |British Epilepsy Association||||||||15/1/21|||5,000.00| |The Cavalier Centre||||||||5/3/21|||20,000.00| |Donation
Minute agreed|6/4/21||||||||||| |Crafts Council||||||||19/4/21||15,000.00|| |Dame Kelly Holmes Trust||||||||19/4/21||15,000.00|| |Guy's 8 StThomas'
Charity||-|Evelina|||London|||||| |Children's
Hospital
Charity||||||||19I4/21||20,000.00|| |Helen Bamber Foundation||||||||19/4/21||10,000.00|| |Legs4Africa||||||||19I4/21||15,000.00|| |The Separated
Child Foundation||||||||19/4/21||10,000.00|| |St Mungo
Community
Housing||||Assocn|||Ltd|19/4/21||20,000.00|| |Queen Elizabeth
Scholarship|||Trust||Ltd|||15/6/21||30,000.00|| |Young Enterprise||||||||15/6/21||30,000.00|| |National
Theatre of Scotland||||||||15/6/21||25,000.00|| |Morning
Star Trust
—E3,000||agreed||||but|payment|not made as charity|did not||| |reply to request
to provide|bank|||details|||||||| |Donation
Minute agreed|14/7/21||||||||||| |Migrant
& Asylum Seeker|Solidarity||||and||Actioi|3/9/21||22,500.00|| |Migrant 8 Asylum Seeker|Solidarity||||and||Action||||| |—instalment
agreed for 2023||||||||Creditor||22,500.00|| |UK-Med Charity||||||||3/9/21||30,000.00|| |The Inspire
Foundation||||||||6/9/21||10,000.00|| |Sense International||||||||6I9/21||10,000.00|| |Cetacean Research
8 Rescue Unit||||||||6I9/21||10,000.00|| |Prior's Court Foundation||||||||6/9/21||20,Q00.00|| |Ballet Rambert
Ltd||||||||6/9/21||10,000.00|| |Hansa Class UK||||||||6/9/21||10,000.00|| |Coach Core Foundation||||||||6/9/21||16,Q00.00|| |Donation agreed over 3|years||||||||||| |Care Network
Cambridgeshire||||||||6/10/21||20,000.00|| |- 3rd and final instalment|of|agreed|||donation||||||| |Donation
Minute agreed|30/10/21||||||||||| |Tom's Trust||||||||16I12/21||30,000.00|| |Friends ofthe Elderly||||||||16/12/21||10,000.00|| |RNL
I||||||||16/12/21||20,000.00|| |Seashell Trust||||||||16/12/21||20,000.00|| |Bletchley Park Trust||||||||24/12/21||20,000.00|| |The Mary Rose Trust||||||||24/12/22||20,000.00|| |Refuge Donor Account||||||||24/12/21||20,000.00|| |Donation
/Hinute agreed|January||||2022||||||| |London
Handel Society||||||||3/2/22||50,000.00|| |The Egmont Trust||||||||3/2/22||62,500.00|| |Addenbrooke's
Charitable|Trust|||||||3/2/22||75,000.00|| |0473367
1|||||||||||6rodies| ## ## |Grants to institutions|Grants to institutions|cont'd:|cont'd:||||2022|2021| |---|---|---|---|---|---|---|---|---| ||||||||E|E| |Donation
Minute agreed 5/1/22||||||||| |Vision Aid Overseas|||||16/2/22||10,000.00|| |Museum
of London|||||16/2/22||150,000.00|| |Young Women's
Trust|||||16/2/22||20,000.0Q|| |Impact Foundation|||||16/2/22||5,000.00|| |Greenfingers
Charity|||||16/2/22||10,000.00|| |The Children's
Trust|||||16/2/22||10,000.00|| |The Children's
Trust|—instalment|||2023|Creditor||10,000.00|| |The Children's
Trust|- instalment|||2024|Creditor||10,000.00|| |Kilmartin
Museum
Company|||Ltd||25/2/22||20,000.00|| ||||||||943,500.00|740,064.00| |Listed investments|||||||2022|2021| ||||||||F|| |Opening
market
value
Add: Acquisitions
at cost
Less: Disposals
Net gains on revaluation|||||||27,240,036.00
1,301,923.67
( 2,507,847.59)
1,131,888.92|18,181,435.00
3,466,130.82
( 1,481,510.00)
7,073,980.18| |Closing market value|at|5 April|||||27,166,001.00|27,240,036.00| |Historic Cost|||||||22,327,431.64|22,922,763.75| |The distribution
of investments||||is:||||| |||||||||F| |Private
Equity||||||5.57'/0|1,511,76Q|1,000,029| |UK Equity
Overseas
Equity||||||48.91%
31.70'/0|13,287,49Q
8,612,962|13,188,645
7,969,213| |Multi Asset||||||7.37%|2,002,254|3,313,983| |Specialist||||||6.45'/o|1,751,535|1,768,166| |||||||100.00'/0|27,166,001|27,240,036| |Cash at bank|||||||2022|2021| ||||||||P|| |Balmoral WP1449729 —wrap|||cash||||471,151.86|1,061,81847| |Balmoral WP1449729-||portfolio||cash|||2,717,309.34|758,974.39| |Balmoral WP1449729 —total|||cash||||3,188,461.20|1,820,792.86| |Brodies LLP - cash held|||||||24,700.99|| |Brodies LLP - Royal|Bank of||Scotland - CMS13820||||1,620.79|461,316.24| ||||||||3,214,782.98|2,282,109.10| ## ## ## ## ## ## |Funds|||||||| |---|---|---|---|---|---|---|---| ||At 5April|Income and|||Gain on||| ||2020
f|endowments|Expenditure
f||Investments|Transfer|At 5 April 2021
f| |Unrestricted|||||||| |fund|22,680,123.30|500,322.62|(|867,225.09)|7,198,304.27||29,511,525.10| |Total funds|22,680,123.30|500,322.62||867,225.09)|7,198,304.27||29,511,525.10| ||At 5 April|Income and|||Gain on||| ||2021
f|endowments
f|Expenditure||Investments
f|Transfer
f|At 5April 2022
f| |Unrestricted|||||||| |fund|29,511,525.10|584,136.75|(|1,100,413.39)|1,332,343.52||30,327,591 98| |Total funds|29,511,525.10|584,136.75||1,100,413.39|1,332,343.52||30,327,591.98| ## ## ## ## ## |1)|Reconciliation
ofnet m|ovements
in funds t|o net cash flow from o|perating
activities||||| |---|---|---|---|---|---|---|---|---| ||||||Year to 5 April||Year to 5April|| |||||||2022f||2021| ||Net movement
in funds|||||816,066.88||6,831,401.80| ||Dividends
and interest|from investments|||(|584,087.45)|(|497,837.60)| ||Interest on cash deposits||||(|49.30)|(|2,485.02)| ||(Gains) Ilosses on investments||||(|1,332,34352)|(|7,198,304.27)| ||Decrease I(Increase)|in debtors||||||| ||Increase I(Decrease)|in creditors||||42,572.00||210.00)| |||||||1,057,841.39||867,435.09| |2)|Analysis ofnet debt|||||||| ||||||Other non-cash|||| ||||At 6 April 2021|Cash flows||changes|At|5April 2022| ||||F|||||L| ||Cash and cash equivalents|||||||| ||Cash||2,282,109.10|932,673.88||||3,214,782 98| ||Borrowings|||||||| ||Debt due within one year|||||||| ||Tota
I net debt||2,282,109.10|932,673.88||||3,214,782.98|