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|||Page|
|---|---|---|
|Administrative
details|||
|Report ofthe trustees|||
|Independent
Auditor's|report||
|Statement offinancial|activities 2022||
|Statement offinancial|activities 2021||
|Balance sheet||10|
|Statement ofcash flows|||
|Notes to the financial|statements|12|
##
|CHARITY REGISTERED No.|1175442||
|---|---|---|
|TRUSTEES:|R.M. Plummer
(Chairman)
F.J.Plummer||
||G.H. Carter||
||S.E. Floyd||
|AUDITOR:|Dafferns LLP||
||One Eastwood||
||Harry Weston Road||
||Binley Business Park||
||Coventry||
||CV3 2UB||
|BANKERS:|Handelsbanken||
||Leamington
Spa Branch||
||Myton House||
||40 Holly Walk||
||Leamington
Spa||
||CV32 4HY||
|INVESTMENT MANAGERS:|a) Close Brothers Asset Management
8'"floor||
||10,Exchange Square||
||Primrose Street, London EC2A 2BY||
||b) Baillie Gifford and Co Ltd||
||Carlton Square||
||1,Greenside
Row, Edinburgh|EH1 3AN|
||c)Punter Southall Wealth Management||
||88Wood Street, London EC2V 7QR||
|INVESTMENT ADVISOR:|Henry Denne, Punter Southall|Wealth Management|
||88Wood Street, London EC2V 7QR||
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||||Expendable|||
|---|---|---|---|---|---|
|||General|endowment|2022|2021|
|||fund|fund|Total|Total|
||Notes|F|F||E|
|INCOME AND ENDOWMENTS:||||||
|Settlements|||1,426,885|1,426,885|418,433|
|Investment
income|2|75593||75,593|55,270|
|Other income|||||110|
|TOTAL INCOME AND ENDOWMENTS||75,593|1,426,885|1,502,478|473,813|
|EXPENDITURE ON:||||||
|Raising funds||||||
|Investment
management
fees||14,482||14,482|16,731|
|Charitable
Activities||||||
|Grant expenditure|3|82,140||82,140|362,710|
|Grant related support costs|4|15,826||15,826|15,821|
|TOTAL EXPENDITURE||112,448||112,448|395,262|
|NET (EXPENDITURE)/INCOME||||||
|BEFOREOTHER RECOGNISED||||||
|GAINS &LOSSES||(36,855)|1,426,885|1,390,030|78,551|
|NET (LOSSES)/GAINS ON INVESTMENTS 5|||(1,420,610)|(1,420,610)|(623,907)|
|TRANSFERS BETWEEN FUNDS||40,000|(40,000)|||
|NET MOVEMENT
IN FUNDS||3,145|(33,725)|(30,580)|(545,356)|
|RECONCILIATION
OF FUNDS||||||
|Fund balances
brought
forward||17,340|5,110,690|5,128,030|5,673,386|
|Fund balances carried forward||20,485|5,076,965|5,097,450|5,128,030|
##
||||Expendable||
|---|---|---|---|---|
|||General|endowment|2021|
||Notes|fundf|fund|Total
f|
|INCOME AND ENDOWMENTS:|||||
|Settlements
by Mr & Mrs Plummer|||418,433|418,433|
|Investment
income|2|55,270||55,270|
|Other income||110||110|
|TOTAL INCOME AND ENDOWMENTS||55,380|418,433|473,813|
|EXPENDITURE ON:|||||
|Raising funds|||||
|Investment
management
fees||16,731||16,731|
|Charitable
Activities|||||
|Grant expenditure||362,710||362,710|
|Grant related support costs|4|15,821||15,821|
|TOTAL EXPENDITURE||395,262||395,262|
|NET (EXPENDITURE)IINCOME|||||
|BEFOREOTHER RECOGNISED|||||
|GAINS 8 LOSSES||(339,882)|418,433|78,551|
|NET (LOSSES)/GAINS ON INVESTMENTS|||(623,907)|(623,907)|
|TRANSFERS BETWEEN FUNDS||300,000|(300,000)||
|NET MOVEMENT
IN FUNDS||(39,882)|(505,474)|(545,356)|
|RECONCILIATION
OF FUNDS|||||
|Fund balances
brought
forward||57,222|5,616,164|5,673,386|
|Fund balances
carried forward||17,340|5,110,690|5,128,030|
##
||TH|E ROCKS|PRING CHARITABLE TRUST|PRING CHARITABLE TRUST|||
|---|---|---|---|---|---|---|
||||BALANCE SHEET||||
|||as|at 31December|2022|||
|||||2022||2021|
|||Notes|E|F|E|f.|
|INVESTIIENT ASSETS|||||||
|Investment||||4,539,797||4,518,652|
|Cash awaiting
investments||||114,184||74,286|
|||||4,653,981||4,592,938|
|CURRENT ASSETS|||||||
|Debtors and prepayments|||9,355||16||
|Cash at bank|||480,007||587,296||
||||489,362||587,312||
|LIABILITIES:Amounts|falling due||||||
|within one year:||6|(45,893)||(52,220)||
|NET CURRENT ASSETS||||443,469||535,092|
|NET ASSETS||||5,097,450||5,128,030|
|FUNDS OF THE CHARITY:|||||||
|Expendable
endowment|fund|||5,076,965||5,110,690|
|General
fund||||20,485||17,340|
|TOTAL CHARITY FUNDS||||5,097,450||5,128,030|
##
|||||||31 December 2022|31 December 2021|
|---|---|---|---|---|---|---|---|
|||||Notes||||
|Cash Flow from Operating||Activities|||8|1,298,771|71,052|
|Cash Flow from Investing||Activities||||||
|Payments|to acquire investments|||||(1,616,077)|(988,037)|
|Interest received||||||602|101|
|Dividends|received|||||74,991|55,169|
|Receipts|from disposal of investments|||||174,322|834,670|
|Net Cash|Flow from Investing||Activities|||(1,366,162)|(98,097)|
|Net Cash|Flow from Financing||Activities|||||
|Net increase
in cash and cash|||equivalents|||(67,391)|(27,045)|
|Cash and|cash equivalents|at|1January||2022|661,582|688,627|
|Cash and|cash equivalents|at|31 December 2022|||594,191|661,582|
|Cash and|cash equivalents|consists||of:||||
|Cash at bank||||||480,007|587,296|
|Cash awaiting
investment||||||114,184|74,286|
|||||||594,191|661,582|
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|GRANTS||||
|---|---|---|---|
|The following
grants were awarded|during the year.|||
|Kensington
and Chelsea Foundation||for:||
|West London Action for Children|||24,000|
|Nucleo Project|||15,000|
|SMART|||18,000|
|Christmas
Appeal|||5,000|
|The Playground
Theatre|||140|
|The Photography
Summer School|||20,000|
||||82,140|
##
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|ALLOCATION O|F SU|PPORT COSTS|||
|---|---|---|---|---|
||||2022|2021f|
|Grant Making|||||
|Legal and professional||fees|5,814|5,149|
|Accountancy
and|advisory||8,682|8,776|
|Audit fee —governance||cost|1,850|1,850|
|Bank charges|||255|46|
|Advertising
costs|||750||
|Foreign exchange|rate|difference|(1,525)||
||||15,826|15,821|
##
|No Trustee or person with family or business
co
expenses
during the year (2021:fNil).|nnections
with the Trustees|received any re|muneration
or|
|---|---|---|---|
|INVESTMENT|Quoted|~Ue uoted|Totalf|
|Market value at 31 December 2021|4,518,652||4,592,938|
|Acquisitions|554,430|1,045,000|1,599,430|
|Disposals|(174,322)||(174,322)|
|Dividend
reinvested|16,647||16,647|
|Revaluation|(1,420,610)||(1,420,610)|
|Market value at 31 December 2022|3,494,797|1,045,000|4,539,797|
##
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|2022|2021|
|---|---|
|7,393|5,000|
|38,500|47,220|
|45,893|52,220|
##
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|ANALYS|IS OF N|ET|ASSET|S B|ETWE|EN THE FUNDS|||
|---|---|---|---|---|---|---|---|---|
||||||||Expendable||
|||||||General|endowment||
|||||||fund|fund|Total|
|||||||F||F|
|Fixed asset investments|||||||4,653,981|4,653,981|
|Other net assets||||||20,485|422,984|443,469|
|||||||20,485|5,076,965|5,097,450|
|RECONCILIATION|||OF NET|INCOME||/ (EXPENDITURE) TO NET CASH|FLOW FROM|OPERATING|
|ACTIVITIES|||||||||
||||||||2022|2021|
|||||||||F|
|Operating|income|/ (expenditure)|||for period||(30,580)|(545,356)|
|Dividends|received||||||(74,991)|(55,169)|
|Interest receivable|||||||(602)|(101)|
|Gains on|investments||||||1,420,610|623,907|
|(Increase) / decrease|||in debtors||||(9,339)|206|
|Increase|/ (decrease)||in creditors||||(6,327)|47,565|
|Net cash|flow from|operating||activities|||1,298,771|71,052|
##
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