CHARITY REGISTRATION NUMBER: 1174460 The Sinclair Charity Financial Statements 31 December 2023
The Sinclair Charity Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent auditorfs report to the members Statement of financial activities Statement of financial posttion 10 Statement of cash flows 11 Notes to the financial statements 12
The Sinclair Charity Trustees, Annual Report Year ended 31 December 2023 The trustees Present their report and the financial statements of the charity for the year ended 31 December 2023. Reference and admlnistratlve detslls Reglstered charlty name The Sinclair Charty Charity registratSon number 1174460 Prlncipal office Mounfview House 151 Street London N14 6EW The trustees Mrs C Sinclair Mr AK Slubbs Mr D M Sinckir Auditor John Crook & Parlners Statutory Audrtor 255 Greeft Lane5 Palmers Green London N13 4XE Bankers Barclays Bank PLC 1 Churchill Pla London E14 5HP Flnancial advisers Chartes Stanley & Co Limit Vadalech House Hounsdown Business Park Bulls Copse Road Southampton S040 9LR
The Sinclair Charity Trustees. Annual Report Icontsnuedj Year ended 31 December 2023 Structure, govomance and rnanapment The Sin¢lair Charity is constitLrted under a Trust Deed dated 22 December 2016 ¢ted by the Trustees. The Trustees who have served during the peric#J were.. Duncan Sinclair Andrew Stubbs Corrine Sinclair There must be at least hyo trustees. Tnjstees, other than Duncan Sinclair. are appointed for maximum of three years by a $01tion of the trustees. In selecting rndivKluals for appointment as trustee5, the trustee5 have regard to the skills. knowledge and exper*nce needed for the effective administration of the Charity. No formal training is provided to new trustees. however they are requir&J to sbjdy their responsibilities and are provided with guKlance issued by The Charity Commission. The Charity is govemed and managed by the Trustees. who tske all de$10r¢S. None of the Trustees are remunerated. Objectlvos and activiti¢s The objects of the Charity are to apply the income and all or such part or parts of the capital at such times and in such manner to or for the benefit of 5u¢h excluswely Charitab objects and purposes (regarded as charitable under the laws of EngL4nd and Wales) in any part of the Wor as the Trustees think fil. The Charitys aim is to further good causes by the payment of donatsDns to other charities whose charitable objects al with its own. The charty registered with the Charity Commission in August 2017, havit)g been fDrmeé with general charitable purposes. The trustees have di5crelK)n to consider wide range of potenbal benefiarles. To dale, the trustees have sought lo select Charities that seek lo look after military and ex-military personnel, in accordance with the wtshes of one of the donors. The Tru51ee$ have also identified charities that invest in research for the cure of ¢ertain conditions, particulady where that research may alleviate the symptoms of those already suffering from the condib'on. The Charity's activities to date have included the payment of donation5 to charities that the Trustees have identified as furthering its charitable purposes as descri above. In carrying out the activkties the Trustees have had regard to the Charity Commission'5 guidan¢e on public benefiL Achievements and perfomiance The Trustee5 have applEd the CttarFtys funds in e0rdance wrth Ihe objectNes of the Tru51. t)onations lolalling £650,CW {2022". £570,(KKJ) have tEen made in the year. whh have been funded from investment income.
The Sinclair Charity Trustees, Annual Report (conliiitsè Year ended 31 December 2023 Financlal review Duriw the period dNidends of £731.974 (2022: £753.7971 were re*ived from the company's equity investments. The charity's investrmenl P)rtf10 recorded fair value losses of £1.454,445 (2022.. £1,976,530} durir the year. The trustees are satisfied vrith investment perfonlneE and with the dividend yield obtained from the equity investments held. The investment Fdicy adopted by the Iruslees 15 to invest for the best financial retum wthin an acceptable level of risk. The investment objectNe 15 to balance income and capital retums The investrnent assets are to be managed to at ka51 maintain the rèal caprtal value of the portfolio, whilst generating a sustainable of investrnent income to support the current charitable adivtties. At the period end. the Charty had reserves of £13.208.410 {2m'. £14.619,0261 all of whiGh we unrestricted. The Charity holds reserves in order lo generate income to fvnd rts charitable acb"vities. The trustees aim to maintsin reserve5 at a level whereby current levels of expenditure incurred in the key aclivilie5 of the Charty can be 501ety funded from investrnent income. This will be achieveé by maintaining current levels of suitable inve5trnents aThJ onty apptying investment income lo charitable activities. The principal risks and uncertainb'es fng the Charity are the maintenance of reserves and the generation of investment income to finance the acbvtties of the Charity. These risks are miligaled by holding good quality, income generating inve5trments, as describ8d in the investment policy above. Al the period end the Trustee5 a salisfied wrth the level of reseryes and the qualty ol investments, which they intend to hold for Ihe long term. Plans for future periods There are cuffently no Sne8n1 plans for the fijlure. The Tntstees aim to continue as Ihty are, subject to any other assets being dona to the Charity. Trusteps. responslbllities statement The trustees are responsibte for preparing the tru5tees' reFQrt and the ffinancial slalements in accordance wlh applicable law and United Kingdom AUting Standards Iuniled Kirkgdom Generally Accepted Accounting Practice}. The law applicable to charities in ErrfJnd and Wales requires the charity trustees to prepare th'nancial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and appIation ol resources, of the charity for that pericxj.
The Sinclair Charity Trustses, Annual Report Iconliftued) Year ended 31 December 2023 In preparing these financial statements, the trustees are required lo.. select suitable accounting pol$ and then apply them con5iStentty', observe the methods and principles in the applicabbe Charitiès SORP.. make judgments and accounbng esb"mates that are reasonable and pnjdent.. stsle whether applicable UK Accounting Standards have bn followed. subject lo any material departuies disclosed and explained in the financial statements. prepare the financial ststements on the going concem basis unless il 15 inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitys Iransaetions and disclose wth reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charitses {Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible ft)r 5afegL5arding the assets of the charity and hence for taking reasonable steps for the prevention and deleetKJn of fraud and other irregularities. The trustees, annual report was approved on 2A.-..1.-. .&o.aJ+. and signed on half of the board of trustees by". Jh.s_L, Mr D M Sinclair Trustee
The Sinclair Charity Indapendent Audittir's Report lo the Membern of The Sinclair Charity Yoar endad 31 Decembor 2023 Oplnlon We have audited the fr'nancial statements of The Sinclair Chanty (the 'chariWI for the year ended 31 December 2023 whh comprrse the stslement ol th"nan¢ial a¢tNities, statement of financial position, statement of cash flows ané the related notes, including a summary of sHJnificant accounting policies. The financi81 reping framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Finala1 Reporting Standard applicable in the UK and Repu ot Ireland (Unrted "ngdorn Generalty Accepted Accounting Pr&ticel. In our opinion the financial statements- give a true ané fair view of the state of the ehartvs affair5 as at 31 Decernber 2023 and of its incoming resources and appliCan of resou$, including its income and exp8ndilure, for the year then ended., have been proFErty prepared in accordance wtth United KirKJdom Generalty Accepted Accounb'ng Practice., have been prepared in a¢cordan¢e with the requirements of the Charities Act 2011. Basis for oplnion We condLtcted our audtt in accordance with Intemational Stsndards on Auditing {UK) IISAS (UK)) and applicable law. Our responsibilities under those standards a further described in the aL110r,5 responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audrt of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance vAth these requirements. We believe that the audit evrdence we have obtained is sufficient and appropriate to provKle a basis for our opinion. Concluslons relating to going concern In auditing the financial stslements, we have ¢on¢luded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Basèd on the work we have perform&J. we have not iden11fd any material uncertainties relating to events or condition5 thaL Individually or colknhvety, may cast sign1fant doubl on the charity's ability to continue a5 a going concem for a Per of al least twefve months from when the fi'nancial statements are authorised for issue. Our responsibilrties and the responsiLMlities of the trustees wth tespecl to going concern are described in the relevant sections of this report.
The Sinclair Charity Independent Auditor's Report to the Members of The Slnclair Charity icontlnyedj Year ended 31 December 2023 other infonnation The other infonnation comprises the infomiatKJn included in the annual report, other than the financial statements ané our audrtor's rewt Ihereon. The trustees are reswn5ible for the other information. Our opinion on the financial ststements does not cover the other information and, except to the extent otherwise eXplilIY staled it) our report, we do not express any fom of assurance conclusion Ihereon. In conrCtIon wlh our audit of the financial statements, our resFM)nsibilty i% to read the other infomiation and, in doing so. consider ether Ihe other information is materially inconsistent with the financial statements or our knoedge obtained in the audit or otherwtse appears to be materially mi5Staled. If we identify such material inconsistencies or appatent material misstatements, we are required to determine whether there 15 a material misstatement in the financial statements or a material isstalement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required lo report that fact. We have nothing io repjrt in this regard. Matters ¢)n which we are requlred to rgport by exceptton In the light of the knowledge and understandirkg of the Charity and its environment obtained in the course of the audit. we have not identified material misstatements in the trustees, report. We have nothing to rekK)rt in re$t of the follcwring matters in relation to which the Charities Act 2011 requires us to report lo you rf, in our opinion.. information given in the trustees. report is inconsisient in any material reswct wrth the rinancial statements", or adequate accounting records have not been kep( or the financia5 statements are rt in agreement th the accounting records and retums., or we have not receNed all the infgmiation and explanations we require for our audit. Responslbllltlgs of trustees As explained more fulty in the trustees, responsibilities staternenL the trustees are responsible for the preparation of the financial statements and for being satisfied thal they give a true and fair view. and for such internal control as the trustees delemine is reSSary to enable the preparation of financial slalemen15 that are free from material misstatemenL whether due to fraud or error. In preparing the financial ststements. the trustees are resnSIble for assessing the charivs abilty lo Continue as a going concern. disch)sing, as apb. matters related to going concern and using the going concem basis of a¢counting unless the trustees erthw intend to Siquidale the charity or lo eease operations, or have no realtstic alternative bul to do so.
The Sinclair Charity Independent Auditorfs Report to the Members of The Sinclair Charity (thivnued) Year ended 31 December 2023 Audltorfs respon$ibllliles for the audlt of the financial statements Our objectNes are to obtain reasonable assurance about whether the financial stslements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditor's report Ihal includes our opinton. Reascinable assurdnce is a hHJh level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} will ayS detect a material misslatemenl when It exists. Misslalemenls can arise from fraud or effor and are consKlered material if, indNidually tsr in the gregale, they could reasonably be expected to inftuen the economic deciSnS of users taken on the basis of these financ1 statements_ IrregulaTTties, including fraud, are instsnces of nOn-comlanCe Yrith Lgw5 and regulations. We design prctedures in lirbe with our SPOnsIbl1s. oudined above, to det material misststements in respgGI of irregularities, including fraud. The exienl to whh our prdureS are Capable of detecb'ng irregularrties, induding fraud is detsiled belovr. Extent to which th¢ audlt was considergd capable of detecting Irregularttles. in¢ludlng fraud The objectives of our audit. in respect to fraud, a.. to identify and assess the risks of material misststement of the financial ststements due to fraud- to obtain suffictenl appropriate audit evidence regarding the assessed risks of material misstatement dve to fwaud, through designing and implèmenb'ng appropriate responses." and lo resp)nd approprBtdy to fraud or suspected fraud identified during the audiL However, the primary respDnsibility for the prevention and detection of fraud rests with both those charged th govemance of the entity and rt5 management Our approach was as lollows: We idenlifieol areas of laws and regulations that coukj reasonably be expected lo have a material effect on the financial statements frorn our general commercial and sector experience, and IhrDugh discussion with the 11ctorS and other mana9emelll las requirgj by auditsng stsndardsl, and discussed with the directors and other management the polic and wocedures regarding compliance with laws and regulations., We considered the legal and regulatory framewots direclty appltable to the financial statem8nt8 reporting framework (FRS 102 and the COmpanS Act 20(E) and the re*nt tax Compliance regulations in the Ul( We considered the nature of the indu5ty, the Control envInMent arKI business perfomiance. including the key drivers for management's rernuneratiDn'. We communicated identified laws and reguLati)ns througmiut Our team and remained alert to any indications of non-compliance throughout the audrt- We considered the procedures and controls that the company has estsblished to address risks identified. or that otherwise pVent. deter and dett fraLKI'. and sentor management monitors those programmes and controls. Baseé on this understanding we designed our aLwJit procedures lo identty non-¢omplianc& with such laws and regulations. Where the rtsk was considered lo be higher, y p&rformed audFt procedures to address each identified fraud risk. These prc¢edures included.. consideration of compliance wth the Charities Act 2011," testing manual joumals,. reviewing the financial statement disclosures and testing lo supporting documentalTron. perfomiing anatytical procedure5'. and enquiring of management. and were designed to provide reasonable assurdn¢e that the financial statements were free from fraud or eor.
The Sinclair Charity Notes to the Financial Ststements (conlinu*dJ Year ended 31 December 2023 Owing lo the inherent limitations ol an audii. there is an unavoidable risk Ihal we may not have detected some malenal rllisslalements in the financial slatemenls. even though we have properly planned and perlormed our audil in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations lirregulariliesl Is from the events and Iransaclions reflected in the financial slalemenls, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves inlenlional concealment, forgery. collusion. omission or misrepresèntation. We are not responsible for preventing non-compliance and cannot be expected lo delect non-compliance with all laws and regulations. A furthei description of our responsibilities for the audrt of the Iinancial slalemenls is Irxaled on the Financial Reporting Council's website al www.frc.org.uklauditorsresponsibililies. This description forms part of our auditor's report. Use ol our report This report is made soleFy lo the charity's members. as a body. in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stale lo the charity's members those mallers we are required lo stale lo them in an auditors report and for no other purpose_ To the fullest extent pemiilled by law. we do not accept or assume sponsibilty to anyone other than the charity and the charity's members as a body, for our audil work, for this report. or for e opinions we have formed. lan Hunt FCA {Senior Statutory Auéilor) For and on behalf of John Crook & Partners Statutory Auditor 255 Green Lane5 Palmers Green London N134XE 11 October 2024
The Sinclair Charity Statement of Flnanclal Activitles Year ended 31 December 2023 2023 UnStrICted fiJnds Total fund$ Total funds 2022 Income and endowments nvestrnenl income 731,974 731.974 7S3,797 753,797 Total Income 731,974 731,974 Expendrture Expenditure on raising funds- Investmenl management costs Expenditure on ¢haritsble acb'vitEs Total expendlture 31.669 656.476 31,669 656,476 688.145 33,114 581,874 614,988 688,145 Net Income 43,829 43,829 138.809 oth8r recognised galns and Sosses Revaluation of investments {1,454.445) (1,454,445} {1.976,530) (1,410.6161 11,410,616) (1,837,721) Net movement in funds Reconclliation of funds Total fund5 brought forward Total funds carried forward 14.619,Q26 14,6f9.026 16.456,747 13,208.410 13.208,410 14,619,026 The statement of financial activit*s includes all gains and kSeS recognised in the year. All income and expenditure derive from continuing activibes. The note¥ on pages 12 to 17 forrn part ol these financial statements.
The Sinclair Charity Statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Investments 12 12,880,581 14,273.936 Current assets Cash at bank and in hand 333,829 365,190 Creditors.. amounts falling due within one yoar Ngt current assets 13 (6,0001 327.829 120,1001 345,090 Total assets less current liabilities 13,208,410 14.619,026 13,208,410 14,619,026 Net assets Funds of the charity Unrestricted funds 13,208,410 14,619,026 14 13,208,410 14,619,026 Total charity funds These financial stslements were approved by the LYJard of tntstees and aulhorised for issue on .-..8.-.lQll+, and are signed on behalf of the Lxjard by.. Mr D M Sinclair Trustee The notes on pages 12 to 17 f¢)mi part of these financial statements. io
The Sinclair Charity ststement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operating actlvlties Nel income 43,829 138,809 Adjuslmenls for. Divicsends and intetest from investments Accrued lincomeyexFwL5es Cash generated from operalic)ns Nel cash used in operating activities (731.9741 {14.1001 1702,24SI (702,2451 1753,7971 3,301 1611.6871 1611,6871 C8sh fbows from invfjsting actlvities Dividends and interest from investrnerkts Purchases of other investments Proceeds from sale of other invesiments Nel cash from investing acbwtss 731,974 753,797 {1.576,6571 {849,80DI 1,515,567 8Cfj,439 670,884 710,436 Net Idecrease)fincrease in cash and cash equivalents Cash and cash equivalents al beginning of year Cash and cash equlvalents at end of year (31,361) 365.190 98,749 266,441 333.829 365,190 The notes on pages 12 to 17 fonn part of thtse financial $taternents. 11
The Sinclair Charity Notes to the Financial Statements Year ended 31 December 2023 General inforniatbon The charity is a public benefrt entty and a wistered charity in England and Wales and is uniwjrporaled. The addres5 of the principal is Mountview House, 151 High Street, London, N14 6EW. statement of compliance These financial statements have been prepared in complk?n¢e with FRS 102, 'The Financial Report'ng Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Pracbce applrable to chariti'es preparing their accounts in xcordance with the Financial Reporting Standard applicab in the UK and Republ ol Irelan¢J {FRS 1021 (Charities SORP IFRS 10211 and the Charibes Act 2011. Accounting policies Ba8ls of preparatlon The financial ststements have tttn prepared on the historical c05t basis, as ITdIfIed by the revaluation tsf investments measured al fair value through income or expenditure. Going ¢oncern Having reviewed the ¢hariWs reserves and cash balances, the Truslees have ml identified any material uncertainties about the charitys abilty to continue as a going concem. Judgernents and key sources of estimation uncwtainty The weparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts rewrted. These estimates and judgements are continually rewewed and are based on experience and other factors. including expectations of future events that are believed to be asOnable under the circumstances. The only swnificant judgements and estimates made reLale to those 8pplied in valuing the Charty's investment in unlisted company shares, which are stsled at £2,598,376. The valuats'on has been arrived at by taking the fair value of the ¢ompanls assets, with the except of property assets Df £1.1 m which are hekj for tradiry. These propety assets are included in the valuation al historic t¥)ok value. Fund accounting Unrestn'cted funds a availab for use at the discreb.on of the trustees to further any of the charity's purposes. Designated funds are unreslricted funds earmarked by the trustees for part+cuLar future projeGt or commitmenL Restricted funds are suty'ected to re5trict#)ns thr exnditure declared by the dDnor or through the terms of an appeal, and fall into one of Iwo sutrflasses". restricted income funds or endowm1 funds. 12
The Sinclair Charity Notes to the Financial Statements (conllnu Year ended 31 December 2023 Accountlng policlès (contlnu•dJ Incoming reurCeS All income is included in the ststement of finanual activits'es when enb"Uemenl ha5 passed to the charity, it is probable that the economic benefts assocted wrf(h the transaction will flow to the charity and the amount can be reliabty measured. The follow.ng speufic poIleS are applied to particular calegories of inrne-. income from donations or grants is recognised when there is evidence of enlf(lement to the grft. receipt is prObae and its amount be measured relrabty. Divtyjends are recognised orKe the divKlend has been declared and notrficath)n has been received of the divrdend due. Resour¢89 expanded Expenditure is rec(onised on an accruals basi5 as a liabilty is incurred. Expenditure includes any VAT which cannot be fulty re¢overed. and is classified under headings of the slatemerbl of financial activities to whh it relates-. expenditure on chantable actsvibes includes all costs iu[red by a ¢harity in undertaking a¢trvities that futher its Charitab aims for the benefit of its benefick?ries. including those support Costs and costs relating to the governance of the charity apportKsned to charttable activities. - other expenditure includes all expenditure that Is neither related to raisi funds for the charity nor part Of its expenditure on Charitab actNTbes. I costs a allccaled to expendf(ure categories rellecting the use of the resource. Direct costs attributable to a single actmty are albocated direclly to that activty. Shaied costs are apportioned befveft Ihe activrties they contribute to on a reasonable. ju5tifiabk and consistent basis. Investments Unlisted equity investments are initialty recorded al cosL and subsequentty measured at lair value. If fair value cannot be reliably measured, assets are measured at cost le$$ impaimienL Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Financial instruments A financial asset or a financial liability is recognised only when Ihe enbty becomes a party to the contractual provisions of the instrument Basie financial instruments are inib.alty reccgnised at the amount receNable or payable including any related transact*)n costs, unless the arrangement conslilute5 a finan¢ing transaction, where it is recognised al the present value of the future payments discounted al a market rate of interest for a similar debt instrument Current assets and current liabiltlies are subsequendy measured at the cash or olher consideratron exF)ected to be pa or received and not dtscounted. 13
The Sinclair Charity Notss to the Financial Statements (contlllue Year ended 31 December 2023 Investment Income Unreslitted Totsl Funds Unrestricted Totsl Funds Funds 2023 Funds 2D22 Dividends from investments 731,974 731.974 753.797 753,797 Investment management costs Unrestiicted Totsl Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Portfolio management 31,669 31,669 33,114 33,114 6. Expend]ture on charitsble activitles by fund typo unrestrted Total Fund$ Unrestricted Total Fund$ Funds 2023 Funds 2022 Donations Supwrt costs 650.000 6.476 650.000 6.476 656,476 570.000 11,874 570.000 11,874 656.47S 581,874 581,874 Expenditure on charltable actIvIt by activity type Grant funding of ¥tivrties Supwt costs Total funds 2023 Tolal fund 2022 Donations Governance costs 650.oc 650,000 6.476 570,ODO 11,874 581,874 6,476 6,476 650.000 656.476 Analysis of support costs Professional fees Total 2023 Totsl 2022 Govemance costs 6,476 6,476 11,874 Analysls of grants 2023 2022 Grants to instltLrtions Donations 650.OCK) 570,000 570.000 Total granls 650,r)00 14
The Sinclair Charity Notss to the Financial Statemènts Iconthiu8d) Year ended 31 December 2023 10. Net in¢ome Net income is stated after ¢hargingl(crediti'ngl.' 2023 2022 Fees payable for the audit of the finan¢ial ststements 6,000 7,800 11. Trustee remuneration and expenses No Trustee received any remuneratb)n or was reimbursed for exwnses in either the current or previous year. 12. Investments Listed Other investrnents investments Total Cost or valuation Al 1 January 2023 Additions Disposals Fair value movements 11,350,039 2,923,897 14,273,936 1,576,657 1,576,657 (1,515,567) 11,515,56n (1.128,9241 (325,5211 11,454,445} 10.282,205 2,598.376 12,880,581 At 31 Dacember 2023 Impairment At 1 January 2023 and 31 December 2023 Carrylng amount At 31 December 2023 10.282,205 2.598,376 12,880,581 2,923,897 14,273,936 At 31 December 2022 11,350,039 All inveStmts shown above are held al valuation. Flnanclal assets held at fair value Listed and unlisted investments are measured at fair Value th thanges in fair value being recognised in profit or ioss. 13. Cr•dltor5: amounts falling due wlthln one year 2023 2022 Accruals and deferred income 6,OCK) 20,100
The Sinclair Charity Notes to the Flnancial Statements (continued) Year end8d 31 December 2023 14. Analy$i5 of charitable lur Unrestricted funds 1 January 202 Gains and 31 December kisses 2023 Income Exwditure General funds 14,619,026 731.974 1688,1451 11,454,445) 13.208,410 At 1 January 202 At Gains and 31 December losses 2022 Income ExpendibJre General funds 16,456,747 753.797 (614,988) {1.976.5301 14,619,D26 15. Analysis of not assets between fund$ Unrestricted Totsl Funds Funds 2023 Investrnenls Current assets Creditors less than 1 year 12,880,581 12,880,581 333,829 333,829 {6,0001 16,0001 13,208,410 13.208,410 Net assets Unrestricted TDtsI Funds Funds 2022 Investments Current assets Creditors less than 1 year Net assets 14,273,936 14,273.936 365,190 365,190 {20,1001 120.1001 14,619,026 14,619,D26 Unrestricted funds are funds the charrty can use in accordance with its charitable objectives. There are no restricted or deswJnated fvnds held. 16. Flnanctal Instruments The carying amount for each category of financ1 instrument is as folloK.' 2023 2022 Flnancial assets n7easured at falr value through income and expendlture Financial assets measured at fair value through income and expenditure 12,880,581 14,273,936 16
The Sinclair Charity Notes to the Financial Statements (eonffjn Year ended 31 December 2023 17. Analysts ol Ghanges in Thet debt At 1 Jan 2023 Cash flows 31 Dec 2023 Cash al bank and in hand 365,190 {31,361} 333,829 18. Related parties During the year the charity received dwidend incorne of £435,877 12022.. £435.877} from Mountview Eststes P.L.C. and dNidend income of £162,487 (2022.. £211.234) from Sinclair Estates Limited. One of the trustee of Ihe chanty is also a dIrr of Mountview Estates P.L.C. and two of the trustees of the charty are also directors of Sinclair Estates Limited. 17