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||||Page|
|---|---|---|---|
|Trustees'|annual
report|||
|Independent
auditor's||report to the members||
|Statement|offinancial|activities||
|Statement|offinancial|position|10|
|Statement|ofcash flows|||
|Notes to the financial||statements|12|
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|Registered|Registered|charity|name|The Sinclair Charity|
|---|---|---|---|---|
|Charity|registration||number|1174460|
|Principal|office||||
|||||Mountview
House|
|||||151 High Street|
|||||London|
|||||N14 6EW|
|The trustees||||Mrs C Sinclair|
|||||Mr AK Stubbs|
|||||Mr DM Sinclair|
|Auditor||||TC Group|
|||||Statutory
Auditor|
|||||Lynton House|
|||||7-12Tavistock Square|
|||||London|
|||||WC1H 9BQ|
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|Year ende|d|31|Dece|mbe|r 2022|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||2022||2021|
||||||||Unrestricted|||
||||||||funds|Total funds|Total funds|
|||||||Note|E|E|E|
|income and|endowments|||||||||
|Donations
and||legacies||||4|||543,889|
|Investment|income|||||5|753,797|753,797|419,592|
|Total income|||||||753,797|753,797|963,481|
|Expenditure||||||||||
|Expenditure|on|raising funds:||||||||
|Investment||management|||costs|6|33,114|33,114|31,633|
|Expenditure|on|charitable||activities||7,8|581,874|581,874|511,201|
|Total expenditure|||||||614,988|614,988|542,834|
|Net income|||||||138,809|138,809|420,647|
|Other recognised|||gains|and|losses|||||
|Revaluation|of|investments|||||(1,976,530)|(1,976,530)|1,679,461|
|Net movement||in|funds||||(1,837,721)|(1,837,721)|2,100,108|
|Reconciliation||of|funds|||||||
|Total funds|brought||forward||||16,456,747|16,456,747|14,356,639|
|Total funds|carried forward||||||14,619,026|14,619,026|16,456,747|
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|The Sinclair Charity
Statement of Financial|The Sinclair Charity
Statement of Financial|Position||||
|---|---|---|---|---|---|
|31 December 2022||||||
|||||2022|2021|
||||Note|||
|Fixed assets
Investments|||13|14,273,936|16,207,106|
|Current assets
Cash at bank and
in|hand|||365,190|266,441|
|Creditors: amounts|falling|due within one year|14|(20,100)|(16,800)|
|Net current assets||||345,090|249,641|
|Total assets less current||liabilities||14,619,026|16,456,747|
|Net assets||||14,619,626|16,456,747|
|Funds ofthe charity
Unrestricted
funds||||14,619,026|16,456,747|
|Total charity funds|||15|14,619,026|16,456,747|
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|Year ended 31 Decemb|er 2022||||
|---|---|---|---|---|
||||2022
f|2021
f|
|Cash flows from operating|activities||||
|Net income|||138,809|420,647|
|Adjustments
for:|||||
|Dividends
and interest
from|investments||(753,797)|(419,592)|
|Accrued expenses|||3,301|3,600|
|Cash generated
from operations|||(611,687)|4,655|
|Net cash (used in)/from
operating
activities|||(611,687)|4,655|
|Cash flows from investing|activities||||
|Dividends
and interest from|investments||753,797|419,592|
|Purchases
ofother investments|||(849,800)|(2,319,447)|
|Proceeds from sale ofother|investments||806,439|1,834,494|
|Other investing
cash flow adjustment||||(1)|
|Net cash from/(used
in) investing
activities|||710,436|(65,362)|
|Net increase/(decrease)
in|cash and cash|equivalents|98,749|(60,707)|
|Cash and cash equivalents|at beginning|ofyear|266,441|327,148|
|Cash and cash equivalents|at end ofyear||365,190|266,441|
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|4.|Donations||and legacies||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2022|Funds|2021|
||||||E||E|F|
||Legacies||||||||
||Investment||porffolio and cash||||543,889|543,889|
|5.|Investment||income||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2022|Funds|2021|
||||||E|E|E|E|
||Dividends|from investments|||753,797|753,797|419,592|419,592|
|6.|Investment||management|costs|||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2022|Funds|2021|
||||||F|E|E|E|
||Portfolio management||||33,114|33,114|31,633|31,633|
|7.|Expenditure||on charitable|activities|by fund type||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2022|Funds|2021|
||||||E|E|E|F|
||Donations||||570,000|570,000|500,000|500,000|
||Support costs||||11,874|11,874|11,201|11,201|
||||||581,874|581,874|511,201|511,201|
|8.|Expenditure||on charitable|activities|by activity type||||
||||||Grant funding|Support|Total funds|Total fund|
||||||of activities|costs|2022|2021|
||||||E|E|F|F|
||Donations||||570,000||570,000|500,000|
||Governance||costs|||11,874|11,874|11,201|
||||||570,000|11,874|581,874|511,201|
|9.|Analysis|ofsupport costs|||||||
|||||||Professional|||
|||||||fees|Total 2022|Total 2021|
|||||||f.|F|F|
||Governance||costs|||11,874|11,874|11,201|
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|10.|Analysis
ofgrants|||
|---|---|---|---|
|||2022|2021|
||||F|
||Grants to institutions|||
||Donations|570,000|500,000|
||Total grants|570,000|500,000|
|11.|Net income|||
||Net income is stated after charging/(crediting):|||
|||2022|2021|
|||E|F|
||Fees payable for the audit ofthe financial statements|7,800|7,200|
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|Investments||||
|---|---|---|---|
||Listed|Other||
||investments|investments|Total|
||E|E||
|Cost or valuation||||
|At 1 January 2022|12,978,369|3,228,737|16,207,106|
|Additions|849,800||849,800|
|Disposals|(806,439)||(806,439)|
|Fair value movements|(1,671,691)|(304,840)|(1,976,531)|
|At 31 December 2022|11,350,039|2,923,897|14,273,936|
|Impairment||||
|At 1 January
2022 and 31 December 2022||||
|Carrying
amount||||
|At 31 December 2022|11,350,039|2,923,897|14,273,936|
|At 31 December 2021|12,978,369|3,228,737|16,207,106|
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|||||2022|2021|
|---|---|---|---|---|---|
|||||E||
|Accruals|and|deferred|income|20,100|16,800|
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|||||At||||At|
|---|---|---|---|---|---|---|---|---|
|||1|January|20|||Gains and|31 Decembe|
|||||22|Income|Expenditure|losses|r 2022|
||||E||E|E|E|E|
|General|funds||16,456,747||753,797|(614,988)|(1,976,530)|14,619,026|
|||||At||||At|
|||1|January|20|||Gains and|31 December|
|||||21|Income|Expenditure|losses|2021|
||||E||E|E|E|E|
|General|funds||14,356,639||963,481|(542,834)|1,679,461|16,456,747|
|Analysis|of net as|sets between funds|||
|---|---|---|---|---|
||||Unrestricted|Total Funds|
||||Funds|2022|
||||E|F|
|Investments|||14,273,936|14,273,936|
|Current|assets||365,190|365,190|
|Creditors|less than|1 year|(20,100)|(20,100)|
|Net assets|||14,619,026|14,619,026|
||||Unrestricted|Total Funds|
||||Funds|2021|
|||||F|
|Investments|||16,207,106|16,207,106|
|Current|assets||266,441|266,441|
|Creditors|less than|1 year|(16,800)|(16,800)|
|Net assets|||16,456,747|16,456,747|
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|Analy|sis|ofc|hang|es|
in net debt|||||
|---|---|---|---|---|---|---|---|---|---|
||||||||At||At|
|||||||1|Jan 2022|Cash flows|31 Dec 2022|
||||||||E|E||
|Cash|at|bank|and|in|hand||266,441|98,749|365,190|
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