2022-12-31-accounts - The Connaught Trust

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			Page
Report ofthe Trustees			to	4
Report ofthe Independent	Auditors	5	to	7
Statement ofFinancial Acthrities
Balance Sheet
Notes to the Financial Statements		10	to	20

		FORT	HEYEAR ENDED 31DECEM	BER2022
				2022	2021
				Unrestricted	Total
			hlotes	funds	fundsf
INCO5IIE AND ENDOWMENTS		FROM
Donafions and legacies					12,018
Investment income				289,865	220,368
Total				289,865	232,386
EXPENDITURE ON
Raising funds				29,900	9,708
Charitable activities
Grantmaking				148,389	295,674
Total				178,289	305,382
Net gains/(lasses)	on investments			(319,699)	164,167
NET INCOMEI(EXPENDITURE)				(208,123)	91,171
RECONCILIATION	OF FUNDS
Total funds brought	forward			5,097,432	5,006,261
TOTAL FUNDS CARRIED FORWARD				4,889,309	5,097,432

	BALANCE SHEET 31DECEMBER2022
		2022	2021
		Total	Total
		funds	funds
	Notes	6	5
FIXEDASSETS
Tangible assets Heritage assets	10 11	754 64,110	1,298 76,183
Investments
Investments	12	2,906,757	3,217,188
Investment property	13	1,737,000	1,709,000
		4,708,621	5,003,669
CURRENT ASSETS
Debtors	14	10,237	5,717
Cash at bank		217,177	276,440
		227,414	282,157
CREDITORS
Amounts falling due within one year	15	(46,726)	(188,394)
NET CURRENT ASSETS		180,688	93,763
TOTAL ASSETSLESSCURRENT	LIABILITIES	4,889,309	5,097,432
NET ASSETS		4,889,309	5,097,432
FUNDS	16
Unrestricted funds		4,889,309	5,097,432
TOTAL FUNDS		4,889,309	5,097,432

DONATIONS	AND LEGAC	IES
							2022f	2021f
Donation by	Hants IOW Territorial			Trust				12,018
INVESTMENT INCOME
							2022	2021f
Rents received							141,438	95,593
Grant ofthe	right ofaccess	across car park					22,500
Dividends from equities							125,879	123,957
Interest from	cash deposits						48	818
							289,865	220,368
All investment income is derived			from assets held in the United		Kingdom	and overseas.
RAISING FUNDS
Investment	management	costs
							2022	2021
Commission	and management		fees				1,000	1,000
Investment advice							6,671	(454)
Bad debts							18,888
Property repairs and maintenance								434
Insurance							968	1,025
Sundry expenses							72	708
Estate agent	and survey fees							6,205
Printing and	advertising						1,756	243
Depreciafion							545	547
							29,900	9,708
CHARITABLE ACTIVtTIES COSTS
						Grant
					funding of
					activities		Support
					(see note		costs (see
						7)f	note 8) f	Totalsf
Grantms king					107,823		40,566	148,389

	FOR THE YEAR ENDED 31DECEMB	ER2022
6.	DIRECT COSTSOF CHARITABLE ACTMTIES
		2022	2021
			6
	Book project costs		6,000
7.	GRANTS PAYABLE
		2022	2021
		6
	Grentmaking	107,823	251,743

The tots! g	rants paid to institutions durin	g the year was as follows:
			2022	2021
Reserves
	4th Bn PWRR HQ		2,000	601
	128 Coy REME		2,195
	2Tp 579 Field Sqn RE		500	1,250
	679 (Duke ofConnaughts)	Sqn AAC	1,724
	CCoy 4 PWRR CCoy 6th BnThe Rifles		3,500 750
	MOD Leighton House		2,500
	Royal Wessex Yeorsanry		400	500
	Southampton UOTC		2,200	980
Cadets
	1105(City ofWinchester) Sqn ATC		1,400
	Alton School CCF		6,053
	Andover College CCF		2,648	2,950
	ARK Charter Academy CCF Berkshire Army Cadet Force		5,000	9,016 7,479
	Brakenhale School CCF (3	Awards)	12,930	5,000
	Bnghton Metropolitan College CCF		4,944
	Canford School CCF		5,250
	Central District Sea Cadets		5,000	7,35D
	Chichester Free School CCF		2,500
	City of Portsmouth College	CCF (2Awards)	5,792
	Claires Court School CCF			5,00D
	Cowes Sea Cadets			4,680
	Crawley Sea 8 Marine Cadets			2,500
	Denefield School CCF		5,000
	Effingham Schools Trust CCF		4,974
	Famham, Fleet and Aldershot Sea Cadets			2,000
	Hampshire and Isle ofWight ACF (4Awards)		17,588	7,376
	Hampshire and Isle ofWight RAF		5,000	105,000
	Headquarters Volunteer Cadet Corps		6,000	19,400
	HMS Excellent VCC		5,000
	John Made)ski Academy			3,011
	Littlehampton, Arundel and	Die(dict Sea Cadets	3,350	3,863
	Lord Wandsworth College			6,000
	Maidenhead Sea Cadets			2,500
	Marine Society and Sea Cadets			6,480
	Newbury Sea Cadets		5,000	8,000
	Petersfield School CCF			1,786
	Poole Sea Cadets		2,000
	Porlsmouth Grammar School CCF		3,285
	Porlsmouth Sea Cadets			1,500
	Southampton Sea Cadets			31,495
	Surrey District Sea Cadets		4,00D
	Tisbury detachment Wiltshire ACF		1,308
	UTC Reading CCF		4,032	1,576
	Volunteer Cadet Co~ps Training Centre			4,500
			133,823	251,743

AYABLE - con	tinued
4th Bn PWRR	HQ (2021 grant)		(600)
Central District	Ses Cadets (2022 grant)		(3,500)
HMS Excellent	VCC(2019grant)		(5,000)
Hampshire and isle ofWight ATC (2022		grant)	(1,500)
Hampshire Lord Lieutenants Fund			(400)
Southampton	Sea Cadets (over accrued	in 2021)	(15,000)
			107,823	251,743

SUPPORT COSTS	SUPPORT COSTS
					Governance
			Management	Finance	costs	Totals
			E	6		L'
Grantmaking			2,403	59	38,104	40,566
Support costs, induded		in the above,	are as follows:
Management
					2022	2021
						Total
					Grantmaking f	activities
Marketing					1,527	620
Sundries					108	849
ITsupport					768	944
					2,403	2,413
Finance
					2022	2021
						Total
					Grantmaking	activities
Bank charges					59	88
Governance costs
					2022	2021
						Total
					Grantmaking	activities
					6	E
Accountancy					780	750
Auditors'	remuneration				5,850	866
IEFees						2,240
Executive	to the Trust's	fees			27,019	26,056
Trustees'	expenses				2,105	2,679
Professional fees					2,350	2,839
					38,104	35,430

TANGIBLE FIXEDASSETS
					Fixtures
					and
					fit0ngs
					E
COST
At 1 January 2022 and 31 December 2022					7,119
DEPRECIATION
At 1 January 2022					5,821
Charge for year					544
At 31 December 2022					6,365
NET BOOK VALUE
At 31 December 2022
At 31 December 2021					1,298
HERITAGE ASSETS
MARKET VALUE	2022	2021	2020	2019	2018
At 1 January	76,183	75,315	55,905	55,905	59,605
Additions	280	868	19,410
Revaluations	(11,313)				(3,700)
Disposals At 31 December	(1,040) 64 110	76183	75315	55905	55905
NET BOOKVALUE
At 31 December	64 110	76 183	75315	55905	55905

FIXEDASS	ET IN	VEST	MENTS
							Listed
							investmentsf
MARKET VALUE
At 1 January	2022						3,217,188
Additions							30,968
Disposals							(5,014)
Revaluations							(336,385)
At 31 December 2022							2,906,757
Cash available to		invest					23
NET BOOKVALUE
At 31 December 2022							2,906,757
At 31 December 2021							3,217,188
Analysis of	investments		by type:
						2022 f	2021 f
Equities						1,853,767	2,293,774
Bonds						333,920	283,592
Multi-Asset	Funds					47,792	53,779
Properly						204,929	226,476
Other						313,101	299,160
Cash held within the investment				porffolio		153,248	60,407
						2,906,757	3,217,188
Analysis of	investments		between	those held within or outside the United	Kingdom:
						2022 f	2021
Within the United		Kingdom				1,215,548	1,024,434
Outside the	United	Kingdom				1,691,209	2,192,754
						2,906,757	3,217,188

FAIR VALUE
At 1 January 2022		1,709,000
Revaluation		28,000
At 31 December 2022		1,737,000
NET BOOK VALUE
At 31 December 2022		1,737,000
At 31 December 2021		1,709,000
Fair value at 31 December 2022 is represented	by:
Valuation in 2022		1,737,000

				2022	2021
				f	6
Other debtors				30	30
Accrued	income			9,210	3,616
Prepayments				997	2,071
				10,237	5,717
CREDITORS: AMOUNTS			FALLING DUE WITHIN ONE YEAR
				2022	2021
					6
VAT				5,891	9,402
Grants payable				7,195	149,000
Deferred	income	(see below)		25,095	25,039
Accrued	expenses			8,545	4,953
				46,726	188,394
Deferred income				2022	2021
Brought	forward			25,039	9,023
Amount	released	to incoming resources		(25,039)	(9,023)
Amount	deferred	in year		25,095	25,039
Carried	forward			25,095	25,039

MOVEMENT	IN FU	NDS
				Net
				movement	At
			At 1.1.22	in funds	31.12.22
Unrestricted	funds
General fund			4,985,985	(206,596)	4,779,389
Repairs to Property		Fund	86,822		86,822
Marketing Fund			18,607	(1,527)	17,080
Book project			6,018		6,018
			5.097,432	(208,123)	4,889,309
TOTALFUNDS			5,097,432	(208,123)	4,889,309

Net movement	in fu	nds, include	d in the above	are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				6	6	K
Unrestricted	funds
General fund				289,865	(176,762)	(319,699)	(206,596)
Marketing Fund					(1,527)		(1,527)
				289,865	(178,289)	(319,699)	(208,123)
TOTAL FUNDS				289,865	(178,289)	(319,699)	(208,123)
Comparatives	for	movement	in funds
						Net
						movement	At
					At 1.1.21 8	in funds f	31.12.21 6
Unrestricted	funds
General fund					4,899,778	66,207	4,965,965
Repairs to Property		Fund			87,256	(434)	86,822
Marketing Fund Book project					19,227	(620) 6,018	18,607 6,018
					5,006,261	91,171	5,097,432
TOTAL FUNDS					5,006,261	91,171	5,097,432

Comparative	net mo	vement in funds, i	ncluded in the above are as	follows:
			Incoming resources	Resources expended	Gains and losses	lVlovement in funds
			6			8
Unrestricted	funds
General fund			220,368	(298,328)	164,167	86,207
Repairs to Properly		Fund		(434)		(434)
Marketing Fund				(620)		(620)
Book project			12,018	(6,000)		6,018
			232,386	(305,382)	164,167	91,171
TOTALFUNDS			232,386	(305,382)	164,167	91,171