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2023-04-05-accounts

Page
General
information
Report ofthe trustees 3-5
Statement of trustees' responsibilities
Independent
auditors'		 report 7-10
Statement
of financial		 activities
Balance sheet 12
Cashflow 13
Accounting
policies		 14 - 15
Notes to the financial statements 16 —18

Trustees Stefan Olsson (Appointed
John Tierney (Appointed		 Stefan Olsson (Appointed
John Tierney (Appointed		 24.01.17)
24.01,17)
Dominic
Allain (Appointed		 24,01,17)
Jim Barrat (Appointed 24.01.17)
Accountant Handelsbanken
Wealth		 &Asset Management
77 Mount Ephraim
Tunbridge
Wells
Kent
TN4 8BS
Independent Auditors Gibson Booth Chartered
Statutory
Auditors		 Accountants 8
New Court, Abbey Road North
Shepley
Huddersfield
HD8 BBJ
Principal Office 77 Mount Ephraim
Tunbridge
Wells
Kent
TN4 8BS
Registered charity number 1172421

Unrestricted Expendable Total Total
Income endowment this period last year
Note Fund Fund 2023 2022
'
K E f.
Incoming resources
Voluntary
Income
Donations
and compensation		 9,024,711 9,024,711 'I,92 'I .126
Tax refund
due on gift aid		 1,500,013 1,500,013 475,000
Investment
income		 82,294 82,294 52.394
Total incoming
resources		 82,294 10,524,724 10,607,018 2,448,520
Resourses expended
Cost ofgenerating
funds
Investment
management		 costs
Charitable
activities
Grants made 1,450,000 1,450,000 1 430 000
Other
Audit fees 1,740 1,740 'I,560
Accountancy
and advice		 fees 6,000 6,000 6 000
Bank charges 22 22 22
Total resources expended 1,457,762 1,457,762 1,437,582
Net incoming/(outgoing) resources (1,375,468) 10,524,724 9,149,256 1,010,938
before transfers
Gross transfers
between		 funds 1,375,468 1 375,468
Net income/(outgoing) resources before 9,149,256 9,149,256 1,010,938
other recognised
gains		 and losses
Other recognised
gains		 and losses
(Losses)/gains
on investment		 assets (434,078) (434,078) 2,500
Net movements
in funds		 8,715,178 8,715,178 1,013,438
Fund balance
brought
forward
Fund balance carried forward		 at 5April 2023 7,792,833
16,508,011		 7,792,833
16,508,011		 79 .)95
7792,833
11

Total Total
Note this period last year
2023 2022
Fixed assets E
Investment at market value 11752,137 7 136,766
Current assets
Debtors 13
Cash at Handelsbanken 4,747,737 660,452
Cash at Heartwood 12,805 G,5
Current liablities
Creditors: amounts falling due within one year (4,680) l4 440l
Net current assets 4,755,875 656,067
Net assets 16,508,011 7 792,833
Funds
Expendable endowment fund 16,508,011 7,(92,833
Unrestricted income fund
16,508,011 7,792,833

2023 2022
Net income for the year 9,149,256 1,010,938
Adjustments
for
Interest and dividends (82,294) (52,394)
Decrease/(Increase)
in debtors		 (13)
Increase
in creditors		 240 (2,580)
Cash flows from operating activities 9,067,190 955,964
Cash flows from investing
Interest and dividends		 activities 82,294 52,394
Proceeds from sale of investments 3,962,459 1,000,000
Purchase
ofinvestments		 (9,011,908) (1,923,025)
Net cash used by investing
activities		 (4,967,156) (870,631)
Change
in cash and cash equivalents
Cash and cash equivalents
brought		 forward 4,100,034
660,507		 85,333
575,174
Cash and cash equivalents carried forward 4,760,541 660,507

2023 2022
E
1 Income
Gift Aid donations
Canada
Life compensation
payment
Gift of shares
(Donations
and related tax refunds are all expendable		 endowment fund income) 6,000,053
3,024,658
9,024,711		 1.900 OOO
21 126
'l.921.126
2 Investment
income
Handelsbanken
interest
LF Hb Balanced
Multi Asset Fund
I Inc dividend
(Investment
income is all unrestricted
funds Income)		 distributions 2,890
79,404
82,294		 52.394
52 394
3 Grants
Grief to Grace
Royal Opera House
Opera RARA
The Congregation
ofthe Holy Spirt
Westminster
Cathedral
Jesuits
in Britain
(Grant expenditure
is ail unrestricted
Fund expenditure)		 150,000
1,000,000
100,000
200,000
1,450,000		 'i r~o 0()O
1OO,OOO
80 OOO
100.000
1 000,000
'1.430,000
4 Other
Audit fee: 2021-22
Accountancy
and Wealth
aclvice fees to 31		 March 2022 1.560
6,000
(Handelsbanken
Wealth		 Mgi)
Bank chaiges
Audit fees for 2022-2023
Accountancy
and Wealth advice fees to 31		 March 2023 1,740
6,000
(Handelsbanken
Wealth		 Mgt)
Bank charges
(other expenditure
is all unrestricted
fund expenditure)		 7,762 7,582
5 Fixed asset investments
Market value
Carrying
(market) value at beginning
ofyear
Add Additions
at cost
Less disposals at carry value
Add/(deduct)
net gain/(loss)
on revaluation
Carrying
(market) value at end ofyear		 7,136,766
9,011,908
3,962,459
434,078
11,752 137		 6 21 I,241
1,92".025
1,OOO, OOO
roo
136 766
THE PONTOON THE PONTOON TRUST TRUST
NOTES TO THE FINANCIAL STATEMENTS
As at 5 April 2023
2023 2022
f.
5 Fixed asset investments
continued
Analysis of Investment Mkt Value Mkt Value
at year end at year end
8,001,727.314 Hb Balanced
Multi Asset Fund		 I Inc 11,752,137 7,136.766
Total 11,752,137 7,136766
The historic cost of these investments was f11,671,489 (2022:66,656,988)
6 Debtors
Outstanding gift aid refund 13
13
7 Creditors: amount falling due within one year
Audit fee. 1 440
Accountancy and VVealth advice fees to 3'1 March 2022 3.000
(Handelsbanken Wealth Mgt)
Audit fees 1,680
Accountancy and Wealth advice fees to 31 March 2023 3,000
(Handelsbanken Wealth Mgt) 4,680 4 440

8 Analysis
of		 Funds At Income Expenditure Gains losses At
06-Apr-22 &transfers 05-Apr-23
F F
Expendable
Unrestricted		 endowment
funds		 funds 7,792,833 10,524,724
82,294		 (1,457,762) (1,809,546)
1,375,468		 16,508,011
7,792,833
At Income Expenditure Gains losses At
06-Apr-21 &transfers 05-Apr-22
F F F
Expendable
Unrestricted		 endowment
funds		 funds 6,779,395 2,396,126
52,394		 (1,437,582) (1,382,688)
1,385,188		 7,792,833
6,779,395 2,448,520 ~1,437,582 2,500 7,792,833