| PAGE | |
|---|---|
| REFERENCE AND ADMINISTRATIVE INFORMATION |
|
| REPORT OF THE TRUSTEES | 4-7 |
| REPORT OF THE INDEPENDENT AUDITOR TO THE TRUSTEES | 8-9 |
| STATEMENT OF FINANCIAL ACTIVITIES | 10 |
| BALANCE SHEET | |
| NOTES TO THE FINANCIAL STATEMENTS | 12-17 |
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| 6 | 6 | |||
| Unrestricted | Unrestricted | |||
| INCOME AND ENDOWMENTS | FROM: | |||
| Investments: | ||||
| - Investment income |
168,615 | 179,553 | ||
| - Interest receivable | 101 | 36 | ||
| Total | 168,716 | 179,589 | ||
| EXPENDITURE ON: | ||||
| Raising funds | ||||
| - Investment management |
fees | 34,502 | ||
| Charitable activities |
258,498 | 288,946 | ||
| Total | 258,498 | 323,448 | ||
| NET INCOME/(EXPENDITURE) | BEFORE INVESTMENT GAINS | (89,782) | (143,859) | |
| NET GAINS/(LOSSES) ON | ||||
| INVESTMENTS | (282,367) | 698,177 | ||
| NET INCOME/(EXPENDITURE) | (372,149) | 554,318 | ||
| FUND BALANCE 8/F AT 1AUGUST 2021 | 5,630,795 | 5,076,477 | ||
| FUND BALANCE C/F AT31JULY 2022 | 5,258,646 | 5,630,795 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | E | ||||||
| FIXEDASSETS | |||||||
| Listed Investments | 5,375,964 | 5,531,369 | |||||
| CURRENT ASSETS | |||||||
| Debtors | 45,335 | 2,451 | |||||
| Cash at bank and in | hand | 38,674 | 294,880 | ||||
| 84,009 | 297,331 | ||||||
| CREDITORS: | |||||||
| Amounts Falling Due Within 1Year |
|||||||
| Sundry Creditors | 8 | (3,530) | (3,718) | ||||
| Committed grants |
8 | (197,797) | (194,187) | ||||
| (201,327) | (197,905) | ||||||
| NET CURRENT ASSETS | |||||||
| (LIABILITIES) | (117,318) | 99,426 | |||||
| TOTAL ASSETS LESS CURRENT | |||||||
| LIABILITIES | 5,258,646 | 5,630,795 | |||||
| NET ASSETS | 5,258,646 | 5,630,795 | |||||
| Represented by: Funds and Reserves |
|||||||
| Designated Fund |
9 | 4,755,000 | 5,125,000 | ||||
| General Fund |
503,646 | 505,795 | |||||
| TOTAL FUNDS CARRIED | FORWARD | ||||||
| AT31IDLY 2022 | 5,258,646 | 5,630,795 | |||||
| APPROVED: | |||||||
| Chairman | C PGrimwade | Date ofApprova | I |
| INVEST | MENT INCOME AND INT | EREST R | ECEIVABLE | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| E | 6 | ||||
| Income | from Usted Investments | ||||
| Fixed Interest: UK |
4,980 | 39,66D | |||
| Fixed Interest: Overseas |
10,070 | ||||
| UK Equities | 4,815 | 65,201 | |||
| UK Authorised Umt Trust |
152,606 | ||||
| Overseas Equities: Asia & | North America | 46 | 12,653 | ||
| Overseas Equities: Europe/Emergmg | Markets | 10,491 | |||
| Alternative Markets: Property |
3,163 | 13,409 | |||
| Alternative Markets: Infrastructure |
1,500 | 24,580 | |||
| Alternative Markets:Pnvate |
Equity | 1,505 | 3,489 | ||
| 168,615 | 179,553 | ||||
| Interest | Receivable | ||||
| COIF Charities Deposit Fund | 101 | 36 |
| The | Charity makes grants to both individuals | Charity makes grants to both individuals | Charity makes grants to both individuals | Charity makes grants to both individuals | and institutions | in accordance | with its grant-making | policy setout | m the Trustees | Report |
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| E | 6 | |||||||||
| Grants | payable to institutions | (a, b) | 210,810 | 236,760 | ||||||
| Grants | to Individuals (c) |
10,000 | 11,250 | |||||||
| Grant administration costs |
27,067 | 27,487 | ||||||||
| Governance costs(d) | 10,621 | 13,449 | ||||||||
| 258,498 | 288,946 | |||||||||
| (a) | General Chantable | Donations | 35,000 | 40,50D | ||||||
| (b) | Arts Institutions &Organisations |
175,810 | 196,260 | |||||||
| (c) | Individual Donations |
10,000 | 11,250 | |||||||
| 220,810 | 248,010 | |||||||||
| (a) | General | 2022 | 2021 | |||||||
| E | E | |||||||||
| Donations under 65,000were |
given to 33charities (2021:37) | 35,000 | 40,500 | |||||||
| Total General Donations | 35,000 | 40,500 |
| PROMOTING AND ENHANCING CHARITABLE WORK (Continued) |
PROMOTING AND ENHANCING CHARITABLE WORK (Continued) |
PROMOTING AND ENHANCING CHARITABLE WORK (Continued) |
PROMOTING AND ENHANCING CHARITABLE WORK (Continued) |
||
|---|---|---|---|---|---|
| (b) | Arts | Institutions Ik Organisations |
2022 | 2021 | |
| 1 | St Paul's School (Bursary/Creative | Arts Awards) | 24,000 | 24,000 | |
| 2 | Byam Shaw School ofArt, CSM (UAL) | 7,500 | 7,500 | ||
| 3 | West Dean Cogege | 12,000 | 12,0DO | ||
| 4 | Textile Conservation Foundation |
10,000 | 10,0DO | ||
| 5 | The Royal Academy ofArt Schools | 12,000 | 12,0DO | ||
| 6 | Royal College of Music | 5,500 | 5,500 | ||
| 7 | Guildhall School Trust |
10,000 | 10,0DO | ||
| 8 | Royal Northern College ofMusic |
5,000 | 5,000 | ||
| 9 | Bishopsland Educational Trust |
11,250 | 20,000 | ||
| 10 | Trinity Laban Conservatoire |
13,310 | 10,010 | ||
| 11 | Bristol Old Vic Theatre School | 5,000 | S,ODO | ||
| 12 | Guildford School Acting, Surrey Univ |
5,000 | 5,000 | ||
| 13 | RADA | 5,000 | 5,000 | ||
| 14 | London Contemporary Dance School |
5,000 | 5,000 | ||
| 15 | LAMDA | 5,000 | 10,000 | ||
| 16 | Courtauld Institute ofArt |
5,000 | 5,000 | ||
| 17 | City &Guilds ofLondon Art School | 7,000 | 5,000 | ||
| 18 | Wimbledon College ofArt, UAL |
5,250 | 5,250 | ||
| 19 | South House Silver Workshop Trust |
5,000 | |||
| 20 | Royal Welsh College of Music & Drama | 5,000 | 5,000 | ||
| 21 | Rambert School of Ballet | 5,000 | 5,000 | ||
| 22 | Contemporary Bntish Silversmiths |
20,000 | |||
| 23 | Royal Central School ofSpeech Drama | 5,000 | |||
| 24 | Royal Conservatoire ofScotland |
5,000 | |||
| 175,810 | 196,260 |
| (d) | Governance | Costs | 2022 | 2021 |
|---|---|---|---|---|
| Audit and | accountancy fees | 3,600 | 3,567 | |
| Consultancy: Website & Logo |
250 | 3,975 | ||
| Admmistrative fees |
5,825 | 5,765 | ||
| Trustees' | expenses | 946 | 142 | |
| 10,621 | 13,449 |
| LISTED INVESTMENTS | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Movements in listed investments during the year were as follows: |
|||||
| Market value at 31July 2021 | 5,531,369 | 4,921,964 | |||
| Additions at cost | 5,685,611 | 274,727 | |||
| Oisposals at opening market value | (5,531,415) | (323,977) | |||
| [realised profit: 627,234(2021:E39,522 | |||||
| Net unrealised (losses)/gains in the yr |
(309,601) | 658,655 | |||
| Market value at 31July 2022 | 5,375,964 | 5,531,369 | |||
| Cost of listed investments at 31July 2022 |
5,685,611 | 3,883,863 | |||
| AO investments were dealt in on a recognised stock |
exchange | ||||
| Listed investments held at31July 2022 comprised the following: |
2022 | 2021 | |||
| E | 5 | ||||
| Fixed Interest: UK |
815,997 | ||||
| Fixed Interest Overseas UK |
32D,16D | ||||
| Equities | 1,574,583 | ||||
| UK Investment & Unit Trusts |
5,375,964 | ||||
| Overseas Equities: Asia IL North America |
1,41D,533 | ||||
| Overseas Equities: Europe & Emergmg |
Markets | 412,663 | |||
| Alternative Markets: Property |
331,005 | ||||
| Alternative Markets: Infrastructure |
591,928 | ||||
| Alternative Markets: Private Equity |
74,500 | ||||
| 5,375,964 | 5,531,369 | ||||
| Ihe following holdmg comprised a matenal |
holding | at 31July 2022 (Portfolio | SL) | ||
| Quilter Cheviot Chanty Global Income | &Growth | Fund | 100N |
| FOR THE | YEAR ENDED 31JULY 2022 | Continued | |||||
|---|---|---|---|---|---|---|---|
| 6 | DEBTORS | ||||||
| 2022 | 2021 | ||||||
| 6 | E | ||||||
| Accrued Investment | Income | 45,335 | 2,451 | ||||
| 7 | CASH AT BANK AND IN HAND | ||||||
| 2022 | 2021 | ||||||
| 6 | 6 | ||||||
| C Hoare &Co. | Current Account | 27,614 | 27,690 | ||||
| Quilter Cheviot | Capital Account | (610) | |||||
| Income Account | 20,315 | ||||||
| COIF Chanties | Deposit | Fund | Deposit Account | 11,060 | 247,485 | ||
| 38,674 | 294,880 | ||||||
| 8 | CREDITORS: AMOUNTS | FALLING DUE | WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||||
| 6 | 6 | ||||||
| Grant liabilities | (a 8 | b) | 197,797 | 194,187 | |||
| Grant administration | &governance | costs | 218 | ||||
| Auditors' remuneration |
3,530 | 3,500 | |||||
| 201,327 | 197,905 | ||||||
| (a) Individuals |
10,000 | 11,250 | |||||
| (b) Arts Institutions |
8 Organisations | 187,797 | 182,937 | ||||
| 197,797 | 194,187 |
| 9 | DESIGNATED FUNDS | DESIGNATED FUNDS | ||||
|---|---|---|---|---|---|---|
| The unrestncted | funds ofthe Chanty mclude the following | fund designated for speafic |
purposes | |||
| Balance at | New | Utilised | Balance at | |||
| ~01-Au -21 | ~Desi nations | 31-Jul-22 | ||||
| E | E | E | ||||
| 2022 | 5,125,000 | (370,000) | 4,755,000 | |||
| Balance at | New | Utilised | Balance at | |||
| ~01-Au -20 | ~Desi nations | 31dul-21 | ||||
| E | 5 | E | ||||
| 2021 | 4,575,000 | 550,000 | 5,125,000 |
| 10 | ANALYSIS OF NET | ASSETS BETWEEN FUNDS | ||||
|---|---|---|---|---|---|---|
| Fund balances at31July 2022are represented | by: | 2022 | ||||
| 5 | 6 | 6 | ||||
| General Fund |
Total | |||||
| Listed Investments | 620,964 | 4,755,000 | 5,375,964 | |||
| Current Assets | 84,009 | 84,009 | ||||
| Creditors: amounts | falling due withm 1year | (201,327) | (201,327) | |||
| 503,646 | 4,755,000 | 5,258,646 | ||||
| Fund balances at31July 2021were represented | by: | 2021 | ||||
| Total | ||||||
| Listed Investments | 406,369 | 5,125,000 | 5,531,369 | |||
| Current Assets | 297,331 | 297,331 | ||||
| Creditors: amounts | falhng due within 1year | (197,905) | (197,905) | |||
| 505,795 | 5,125,000 | 5,630,795 |