## ||**Page**| |---|---| |Trustees’ Annual Report|1| |Accountant’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8| ## ## |Settlors|Gilbert Prousch| |---|---| ||George Passmore| |Dates of Constitution|4th October 2017| |Trustees|Gilbert Prousch| ||George Passmore| ||Richard Riley| ||Michael Bracewell| ||Nigel Fox| |Nature of CIO|A registered charity, registered with the Charity Commissioners for England| ||and Wales as number 1174981| |Registered Office|12 Fournier Street| ||London| ||El 6QE| |Investment Managers|Cazenove| ||1 London Wall Place| ||London| ||EC2Y 5AU| |Bankers|Messrs. Hoare & Co.| ||37 Fleet Street| ||London| ||EC4P 4DQ| |Solicitors|Charles Russell Speechlys| ||5 Fleet Place| ||London| ||EC4M 7RD| |Accountants|Moore Kingston Smith LLP| ||6th Floor| ||9 Appold Street| ||London, EC2A 2AP| ## ## ## ## ## ## ## ## ## ## ## ## ## ## 15 December 2022 ## |||**- Unrestricted Funds -**|**- Unrestricted Funds -**|**Total**|- Unrestricted Funds -|- Unrestricted Funds -|Total| |---|---|---|---|---|---|---|---| ||||**Expendable**|**Funds**||Expendable|Funds| ||Notes|**Income **|**Endowment**|**2022**|Income|Endowment|2021| |**Income and Expenditure**||**£**|**`£`**|**£**|£|£|£| |**INCOME FROM:**|||||||| |Donations & legacies:-|||||||| |Donations received|2|**6,339**|**`425,000`**|**`431,339`**|`200`||`200`| |Investment income|3|**8,637**||**`8,637`**|`21,628`||`21,628`| |**TOTAL INCOME**||**14,976**|**`425,000`**|**`439,976`**|`21,828`||`21,828`| |**EXPENDITURE ON:**|||||||| |Raising funds:-|||||||| |Investment Management Costs|||**`5,858`**|**5,858**||`15,953`|`15,953`| |Charitable activities|`4`**_1_**`5`|**`70,392`**||**70,392**|`11,559`||`11,559`| |**TOTAL EXPENDITURE**||`70,392`|**`5,858`**|**76,250**|`11,559`|`15,953`|`27,512`| |**NET OPERATING INCOME/(EXPENDITURE **||**(55,416)**|**419,142**|**`363,726`**|`10,269`|`(15,953)`|`(5,684)`| |**OTHER RECOGNISED GAINS/(LOSSES)**|||||||| |Gains/(losses) on Investments|`7`||**`19,405`**|**`19,405`**||`608,701`|`608,701`| |**NET **INCOME/(EXPENDITURE)||**`(55,416)`**|**`438,547`**|**`383,131`**|`10,269`|`592,748`|`603,017`| |Gross transfer between Funds|9||||||| |**NET MOVEMENT IN FUNDS**||**`(55,416)`**|**`438,547`**|**`383,131`**|`10,269`|`592,748`|`603,017`| |**RECONCILIATION OF FUNDS**|||||||| |Total funds brought forward||**214,807 **|**11,654,260 **|**11,869,067**|204,538|11,061,512|11,266,050| |**BALANCES CARRIED FORWARD**||**159,391 **|**12,092,807 **|**12,252,198**|214,807|11,654,260|11,869,067| ## ||Notes|**2022**|2021| |---|---|---|---| |||**£**|£| |**FIXED ASSETS**|||| |Intangible fixed assets|6|**`13,468`**|| |Tangible fixed assets|7|**`11,010,831`**|7,958,080| |Investments|8|**`529,261`**|2,759,856| |||**11,553,560**|10,717,936| |**CURRENT ASSETS**|||| |Cash held at|||| |C. Hoare & Co.||**209319**|256,577| |Cazenove||511,225|976,203| |Metro||**14,717**|| |Debtors|11|____ **55**|348| |||**735316**|1,233,128| |**CURRENT LIABILITIES**|||| |Creditors - amounts falling due within one year|12|**36,678**|5,880| |**NET CURRENT ASSETS**||**698,638**|1,227,248| |**NET ASSETS**||**12,252,198**|11,945,184| |**FUNDS**|||| |Unrestricted Funds|||| |Income||**159391**|214,807| |Expendable Endowment||**12,092,807**|11,654,260| |||**12,252,198**|11,869,067| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |**3 **|**INVESTMENT INCOME**|**`2022`**|`2021`| |---|---|---|---| |||**`£`**|`£`| ||Investment income|**`8,371`**|21,138| ||Interest on cash deposits|**`267`**|490| |||**`8,637`**|21,628| |**4 **|**CHARITABLE ACTIVITIES**|**`2022`**|`2021`| |||**`£`**|`£`| ||Staff costs (see note 5)|**`27,300`**|| ||Support costs (see below)|**`43,092`**|`11,559`| |||**`70,392`**|`11,559`| ||**Support costs are split as follows:**|**`2022`**|`2021`| |||**`£`**|`£`| ||Rates & water|**`679`**|`239`| ||Light & heat|**`7,320`**|`2,581`| ||Repairs & maintenance|**`4,960`**|`540`| ||Insurance|**`1,942`**|`1,811`| ||Legal & professional fees|**`11,559`**|`75`| ||Finance costs|**`581`**|`433`| ||Computer costs|**`2,143`**|| ||Depreciation|**`3,575`**|| ||Amortisation|**`1,124`**|| ||Other office costs|**`449`**|| ||Governance Costs||| ||Moore Kingston Smith Independent Examiner’s fee:||| ||Current year|3,960|2,400| ||Whitefield Co. Accountancy Fees|**4,800**|3,480| |||**43,092**|11,559| |**5 **|**STAFF COSTS**|**2022**|`2021`| |||**£**|`£`| ||Salaries, National Insurance and Pension costs|**27,300**|| |||**27,300**|| ## |**INTANGIBLE FIXED ASSETS**|**Website**|| |---|---|---| ||**Development**|**Total**| ||**£**|**£**| |**Cost/Market Value**||| |Brought Forward||| |Additions|14,592|14,592| |At 30 April 2022|14,592|14,592| |**Amortisation**||| |Brought Forward||| |Charge for the period|1,124|1,124| |At 30 April 2022|1,124|1,124| |**Net Book Value**||| |At 30 April 2022|13,468|13,468| |At 30 April 2021||| ## |**TANGIBLE FIXED ASSETS**||||| |---|---|---|---|---| ||**Freehold**|||| ||**Land and**|**Fixtures and**||| ||**Buildings**|**Fittings Equipment**||**Total**| |**Cost/Market Value**|**£**|**£**|**£**|£| |Brought Forward|7,958,080|||7,958,080| |Additions|2,993,726|48,977|13,623|3,056,326| |At 30 April 2022|10,951,806|48,977|13,623|11,014,406| |**Depreciation**||||| |Brought Forward||||| |Charge for the period||1,560|2,015|3,575| |At 30 April 2022||1,560|2,015|3,575| |**Net Book Value**||||| |At 30 April 2022|`10,951,806`|47,417|11,608|`11,010,831`| |At 30 April 2021|`7,958,080`|||`7,958,080`| ## ## |**Movement in fixed asset investments**||| |---|---|---| ||`2022`|2021| |**Listed investments**|`£`|£| |Market Value Brought Forward|**2,759,856**|4,151,155| |Purchase costs
`Add:`||| |Sale proceeds
`Less:`|**(2,250,000)**|(2,000,000)| |Realised gains|**288,279**|158,657| |(Losses) on revaluation|**(268,874)**|450,044| |**Market Value of Investments**|**529,261**|2,759,856| |Historical cost|**465,072**|2,426,793| ## ## ## ## |**DEBTORS**||| |---|---|---| ||**2022**|2021| ||**£**|£| |Prepayments|**`55`**|`348`| ||**`55`**|`348`| |**CREDITORS**||| ||**2022**|2021| ||**£**|£| |Accruals|**36,678**|5,880| ||**36,678**|5,880| ## ## |**ANALYSIS OF NET ASSETS BY F**|**UND**||| |---|---|---|---| ||**Unrestricted**|**Expendable**|| ||**income fund**|**Endowment**|**Total**| |**As at 30 **April **2022**|**£**|**£**|**£**| |Tangible fixed assets||11,024,299|**`11,024,299`**| |Investments||529,261|**`529,261`**| |Current assets|196,069|539,247|**`735,316`**| |Current liabilities|(36,678)||**`(36,678)`**| ||159,391|12,092,807|**`12,252,198`**| ||**Unrestricted**|**Expendable**|| ||**income fund**|**Endowment**|**Total**| |**As **at 30 April **2021**|**£**|**£**|**£**| |Tangible fixed assets||7,958,080|**`7,958,080`**| |Investments||2,759,856|**`2,759,856`**| |Current assets|220,687|936,324|**`1,157,011`**| |Current liabilities|(5,880)||**`(5,880)`**| ||214,807|11,654,260|**`11,869,067`**|