2022-03-31-accounts - Lempriere Pringle 2015

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Page
Trustees' Report					1-5
Independent	Auditors'	Report			6-8
Consolidated	Statement		of Financial	Activities
Balance Sheet
Consolidated	Cash Flow		Statement
Notes to the	Financial	Statements			12-24

							e. e
Bishop Auckland based	Trusts
he Auckland Project (formerly Auckland				Castle Trust)		5,000,000	7,250,000
Eleven Arches Trust						1,000,000	1,500,000
urbaran Trust						515,992	982,880
Other Grants
rchbishop of Canterbury	Discretionary			Trust		100,000	100,000
rt Fund (Ruffer Curatorial		Bursary)				75,000	75,000
County Durham Community		Foundation				500,000	500,000
First Fruit						500,000	75,000
SHED (previously Seedbed		Christian	Communities		Trust)	3,500,000	3,500,000
General Grants ofless than		E5,000				8,000	3,000
Stockton Project						50,000	34,62
Prince's Trust						85,450	51,270
ear Valley Women's Project						50,000	60,000
otal Grant and Donations						11,384,44	14,131,775

Trustees			J G Ruffer
			J M Ruffer
			H C O' Rourke
			A G RWindham
			N M Fraser
			E Booker
			ASC Chartres	(Appointed	20 April 2021)
Secretary			J E Henderson
Charity registered		number	1161516
Principal office			58 Kingsway
			Bishop Auckland
			DL'l4 7JS
Independent	Auditor		Haines Watts
			17Queens Lane
			Newcastle upon Tyne
			NE1 1RN
Bankers			Barclays Bank	Pic
			6 Market Place
			Durham
			County Durham
			DH1 3NO
Investment	Manager		Ruffer LLP
			80 Victoria Street
			London
			SW1E5JL

			Note	Unrestricted	Restricted
				Funds	Funds	2022	2021
							F
Income from:
Donations			4	1,622,357	3,000,000	4,622,357	1,440,000
Other trading activities			12	13,814,980		13,814,980	12,465,820
investment income			5	3,967,930		3,967,930	3,300,037
Other income							1,084
Total income				19,405,267	3,000,000	22,405,267	17,206,941
Expenditure on:
Charitable activities			6	11,356,816		11,356,816	14,097,888
Other trading activities			12	2,550		2,550	2,080
Total expenditure				11,359,366		11,359,366	'14,099,968
Net income before transfers		and	investment
gains and losses				8,045,901	3,000,000	11,045,901	3,107,072
Transfers between funds			15	3,000,000	( 3,000,000 )
Net loss on investments			12	( 4,284,547 )		( 4,284,547 )	( 5,272,889 )
Net movement in funds				6,761,354		6,761,354	( 2,165,817 )
Reconciliation offunds
Fund balances brought	forward			16,735,614		16,735,614	18,901,431
Fund balances carried	forward			23,496,968		23,496,968	16,735,614

				Group	Group	Charity	Charity
				2022	2021	2022	2021
			Note	E		f
Fixed assets
Investments			12	5,126,031	2,033,378	5,126,131	2,033,478
Current assets
Debtors			13	13,822,685	12,465,820	7,706	7,706
Cash at bank	and in	hand		4,573,138	2,303,600	4,568,542	2,295,793
				18,395,823	14,769,420	4,576,248	2,303,499
Liabilities:
Creditors: amounts		falling due within
one year			14	( 24,886 )	( 67,184 )	( 17,841 )	( 65,202 )
Net current	assets			18,370,937	14,702,236	4,558,407	2,238,297
Net assets				23,496,968	16,735,614	9,684,538	4,271,775
The funds ofthe charity: Unrestricted funds				23,496,968	16,735,614	9,684,538	4,271,775
Restricted funds
			15	23,496,968	16,735,614	9,684,538	4,271,775

			Note	2022	2021
					F
Net cash provided by operating activities			18	5,678,810	( 2,490,914 )
Cash flows from investing	activities
Interest and dividends				3,967,928	3,372,411
Payments to acquire fixed asset investments				( 7,377,200 )	( 2,199,724 )
Receipts on sale offixed asset investments
Net cash provided by invesfing activities				( 3,409,272 )	1,172,687
Change in cash and cash	equivalents for	the year		2,269,538	( 1,318,227 )
Cash and cash equivalents reporting year	at the beginning	ofthe		2,303,600	3,621,826
Cash and cash equivalents	at the end of	the
reporting year				4,573,138	2,303,600
Cash and cash equivalents	consist of:
Cash at bank and in hand				4,573,138	2,303,600

						2022	2021
Income						8,590,287	4,741,221
Charitable	donation		from	subsidiary	company	12,463,839	10,197,000
						21,054,126	14,938,221
Expenditure	on	charitable		activities		( 14,734,016 )	( 14,097,889 )
Net gain/(loss)		on	investments			(3,907,347 )	( 8,684,524 )
Net movement		in	funds			2,412,763	( 7,844,192 )

3. Comparative	Statement of	Financial Activities
		Note	Unrestricted	Restricted
			Funds	Funds	2021	2020
			f	F	f
Income from:
Donations		4	1,440,000		1,440,000	7,174,478
Other trading activities		12	12,465,820		12,465,820	10,200,000
investment income		5	3,300,037		3,300,037	4,224,606
Other income			1,084		1,084	1,297
Total income			17,206,941		17,206,941	21,600,381
Expenditure on:
Charitable activities		6	14,097,888		14,097,888	20,700,723
Other trading activities		12	2,080		2,080	2,930
Share in associate's	result	12				3,105,814
Total expenditure			14,099,968		14,099,968	23,809,467
Net income before investment
gains			3,107,072		3,107,072	( 2,209,086 )
Net (loss)/gains on	investments		( 5,272,889 )		( 5,272,889)	28,067
Net movement in funds			( 2,165,817 )		( 2,165,817 )	( 2,181,019 )
Reconciliation offunds
Fund balances brought forward			18,901,431		18,901,431	21,082,450
Fund balances carried forward			16,735,614		16,735,614	18,901,431

4.	Donations
			2022	2021
				f.
	J G Ruffer	(note 17)	2,407,208	1,440,000
	N M Fraser	(note 17)	1,000,000
	Other		1,215,149
5.	Investment	income
			2022	2021
			f
	Dividends	(net)	3,967,930	3,300,037

					Grant funded	Support	Total	Total
					activity	costs f	2022 f	2021
Funded	from	wide	range	funds	11,348,811	8,005	11,356,816	14,097,888
					11,348,811	8,005	11,356,816	14,097,888

Allocation	ofsupp	ort c	osts
				Basis ofallocation	2022	2021
Consultancy	costs			Invoiced		7,133
Other				Invoiced		4,967
Governance	costs	(note	8)	Invoiced	8,005	7,908
					8,005	20,008

Analysis ofgove	rnance costs
		2022	2021
			F
Trustee indemnity	insurance	905	1,008
Audit fee		7,100	6,900
		8,005	7,908

All grants are paid to institutions	All grants are paid to institutions	as noted	below;		2022	2021
Auckland Castle based trusts
Auckland Castle Project					5,000,000	7,250,000
Eleven Arches					1,000,000	1,500,000
The Zurbaran Trust					515,992	982,880
Other Grants
Archbishop of Canterbury's The Art Fund	Discretionary		fund		100,000 75,000	100,000 75,000
County Durham Community First Fruit	Foundation				500,000 500,000	500,000 75,000
Princes Trust					85,450	51,270
SHED (previously Seedbed	Christian	Community		Trust)	3,500,000	3,500,000
Wear Valley Womens Various grants in Stockton Grants of less than F5,000	on Tees				50,000 50,000 8,000	60,000 34,625 3,000
					11,384,442	14,131,775

Auditors remuneration
				2022	2021
Fees payable to the charity's auditors for the audit ofthe charity's annual accounts (chanty - E6,900)				9,150	8,940
Non-audit services				600	600
Fixed asset investments
		Group	Group	Charity	Charity
		2022	2021	2022	2021
			F	F	F
Fixed asset listed investments		2,126,031	2,033,378	2,126,031	2,033,378
Other investments		3,000,000		3,000,000	100
		5,126,031	2,033,378	5,126,031	2,033,478
Fixed assets listed investments					f
Market value at 1 April 2021					2,033,378
Additions to investments at	cost
Disposals at carrying value
Revaluation ofinvestments	to market value				92,653
Market value at 31 March 2022					2,126,031
Historicalcost					380,197

	Investment in	Investment	in	Total
	associate f	subsidiary f
Cost
Balance at 1 April 2021	8,577,363		100	8,577,463
Additions	7,377,200			7,377,200
At 31 March 2022	15,954,563		100	15,954,663
Impairment
Balance at 1 April 2021	8,577,363			8,577,363
Written off during the year	4,377,200			4,377,200
At 31 March 2022	12,954,563			12,954,563
Carrying Amount
At 31 March 2022	3,000,000		100	3,000,100
At 31 March 2021			100	100

							2022f	2021
Valuation	gains	I(losses)	on	listed	investments		92,653	( 115,786 )
lmpairments						(	4,377,200 )	( 5,157,103 )
						(	4,284,547 )	( 5,272,889 )

13.	Debtors:	am	ounts	receivab	le within one year
						Group	Group	Charity	Charity
						2022 f	2021 f	2022f	2021f
	Prepayments		and accrued income			13,822,685	12,465,820
	Amounts	due	from subsidiary		undertaking			7,706	7,706
						13,822,685	12,465,820	7,706	7,706
14.	Creditors: amounts			falling	due within one year
						Group	Group	Charity	Charity
						2022	2021	2022	2021
						f		f	f
	Accruals	- grants payable					55,938		55,938
	Accruals	- other				24,866	9,264	17,841	9,264
						24,866	65,202	17,841	65,202

For the ea	r ended 3	1March 2022
		Balance at						Balance at
		1 April			Gain/loss			31 March
		2021 f	Incomef	Expenditure	on investment	f	Transfers f	2022f
Unrestricted	fund
-Wide range		16,735,614	19,405,267	( 11,736,566 )	( 3,907,347	)	3,000,000	23,496,968
Restricted	fund
- Colnaghl			3,000,000				( 3,000,000 )
		16,735,614	22,405,267	( 14,736,566 )	( 907,347	)		23,496,968

For the	ear	ended 31March 2021
		Balance at						Balance at
		1 April				Gain/loss		31 March
		2020	Income	Expenditure	on	investment	Transfers	2021
			F	E
Unrestricted		fund
-Wide	range	18,901,431	14,941,221	( 14,099,968 )	( 5,272,889 )			14,469,795
		18,901,431	14,941,221	( 14,099,968 )	(5,272,889 )			14,469,795

Analysis	ofnet assets between funds
For the	ear ended 31March 2022	Unrestricted	Restricted	Total
		Funds	Funds	Funds
			E
Investments		5,126,031		5,126,031
Current	assets	18,370,936		18,370,936
		23,496,967		23,496,967
For the	ear ended 31March 2021	Unrestricted	Restricted	Total
		Funds	Funds	Funds
				E
Investments		2,033,378		2,033,378
Current	assets	12,436,417		12,436,417
		14,469,795		14,469,795

Reconciliation of net incoming resources to net ca	sh inflow
	2022	2021
Net movement in funds	6,761,354	( 4,431,636 )
Investment income	(3,967,930)	(3,300,037 )
(Gain)/loss on investments	4,284,547	5,272,889
(Increase)/decrease in debtors	(1,356,866)
(Decrease) in creditors	(42,295)	( 32,130 )
Net cash inflow	5,678,810	( 2,490,914 )