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 ￿$01￿tion 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￿$10r¢S. None of the Trustees
are remunerated.
Objectlvos and activiti¢s
The objects of the Charity are to apply the income and all or such part or parts of the capital at such
times and in such manner to or for the benefit of 5u¢h excluswely Charitab￿ objects and purposes
(regarded as charitable under the laws of EngL4nd and Wales) in any part of the Wor￿ as the Trustees
think fil.
The Charitys aim is to further good causes by the payment of donatsDns to other charities whose
charitable objects al￿￿ with its own. The charty registered with the Charity Commission in August
2017, havit)g been fDrmeé with general charitable purposes. The trustees have di5crelK)n to consider
wide range of potenbal benefi￿arles. To dale, the trustees have sought lo select Charities that seek lo
look after military and ex-military personnel, in accordance with the wtshes of one of the donors. The
Tru51ee$ 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. wh￿h 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)rtf￿10 recorded fair value losses of £1.454,445 (2022.. £1,976,530} durir
the year.
The trustees are satisfied vrith investment perfon￿lneE 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 f￿ng 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 S￿n￿e8n1 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 A￿U￿ting Standards Iuniled Kirkgdom Generally
Accepted Accounting Practice}.
The law applicable to charities in ErrfJ￿nd 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 appI￿ation 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 b￿n 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 wh￿h 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 rep￿ing framework that has been applied in their preparation is applicable law and
United Kingdom Accounting Standards, including FRS 102 The Fina￿la1 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 appliCa￿n 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 aL￿110r,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 iden11f￿d any material uncertainties relating to
events or condition5 thaL Individually or colknhvety, may cast sign1f￿ant 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 eXpli￿lIY staled it) our report, we do not express any fom of assurance conclusion Ihereon.
In conr￿CtIon 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 kno￿edge 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 r￿t 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 r￿eSSary 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 res￿nSIble for assessing the charivs abilty lo
Continue as a going concern. disch)sing, as ap￿￿b￿. 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 a￿yS 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 deciS￿nS of users taken on
the basis of these financ￿1 statements_
IrregulaTTties, including fraud, are instsnces of nOn-com￿lanCe Yrith Lgw5 and regulations. We design
prctedures in lirbe with our ￿SPOnsIbl1￿s. oudined above, to de￿t material misststements in respgGI
of irregularities, including fraud. The exienl to wh￿h our pr￿dureS 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 11￿ctorS 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 framewot*s direclty appltable to the financial statem8nt8
reporting framework (FRS 102 and the COmpan￿S Act 20(E) and the re*nt tax Compliance
regulations in the Ul(
We considered the nature of the indu5ty, the Control envI￿nMent 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 p￿Vent. deter and det￿t 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
e￿or.

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
Un￿StrICted
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 k￿SeS 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 IT￿dIfIed 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 ￿ th￿r ex￿nditure declared by the dDnor or
through the terms of an appeal, and fall into one of Iwo sutrflasses". restricted income funds or
endowm￿1 funds.
12

The Sinclair Charity
Notes to the Financial Statements (conllnu
Year ended 31 December 2023
Accountlng policlès (contlnu•dJ
Incoming re￿urCeS
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 assoc￿ted wrf(h the transaction will flow to the
charity and the amount can be reliabty measured. The follow.ng speufic poI￿leS are applied to
particular calegories of in￿rne-.
income from donations or grants is recognised when there is evidence of enlf(lement to the grft.
receipt is prOba￿e 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 wh￿h it relates-.
expenditure on chantable actsvibes includes all costs i￿u[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
befv￿eft 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
unrestr￿ted 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 inveStm￿ts 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 financ￿1 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 dIr￿r of Mountview Estates P.L.C.
and two of the trustees of the charty are also directors of Sinclair Estates Limited.
17