| 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 | 2023 | 2022 | ||
|---|---|---|---|---|
| E | E | |||
| Unrestricted | Unrestricted | |||
| INCOME AND ENDOWMENTS | FROM: | |||
| Donations | 1,500 | |||
| Investments: | ||||
| - investment income |
160,671 | 168,615 | ||
| - interest receivable | 1,325 | 101 | ||
| Total | 163,496 | 168,716 | ||
| EXPENDITURE ON: | ||||
| Raising funds | ||||
| —Investment management |
fees | |||
| Charitable activities |
270,079 | 258,498 | ||
| Total | 270,079 | 258,498 | ||
| NET INCOME/(EXPENDITURE) | BEFORE INVESTMENT GAINS | (106,583) | (89,782) | |
| NET GAINS/(LOSSES) ON | ||||
| INVESTMENTS | (145,717) | (282,367) | ||
| NET INCOME/(EXPENDITURE) | (252,300) | (372,149) | ||
| FUND BALANCE 8/F AT 1 AUGUST 2022 | 5,258,646 | 5,630,795 | ||
| FUND BALANCE C/F AT31JULY 2023 | 5,006,346 | 5,258,646 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | ||||||||
| FIXEDASSETS | ||||||||
| Listed Investments | 5,102,747 | 5,375,964 | ||||||
| CURRENT ASSETS | ||||||||
| Debtors | 37,245 | 45,335 | ||||||
| Cash at bank | and in hand | 66,414 | 38,674 | |||||
| 103,659 | 84,009 | |||||||
| CREDITORS: | ||||||||
| Amounts Falling Due Within 1Year |
||||||||
| Sundry Creditors | 8 | (4,560) | (3,530) | |||||
| Committed | grants | 8 | (195,500) | (197,797) | ||||
| (200,060) | (201,327) | |||||||
| NET CURRENT ASSETS | ||||||||
| (LIABILITIES) | (96,401) | (117,318) | ||||||
| TOTAL ASSETS LESSCURRENT | ||||||||
| LIABILITIES | 5,006,346 | 5,258,646 | ||||||
| NET ASSETS | 5,006.346 | 5,258,646 | ||||||
| Represented | by; Funds and Reserves | |||||||
| Designated Fund |
9 | 4,500,000 | 4,755,000 | |||||
| GeneralFund | 506,346 | 503,646 | ||||||
| TOTAL FUNDS CARRIED FORWARD | ||||||||
| AT31JULY2023 | 5,006,346 | 5,258,646 |
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | E | |||||||||
| Donations | 1500 | |||||||||
| Income from | Listed Investments | |||||||||
| Fixed interest: UK |
4,980 | |||||||||
| Fixed interest: Overseas |
||||||||||
| UK Equities | 4,815 | |||||||||
| UK Authodised Unit Trust |
160,671 | 152,606 | ||||||||
| Overseas Equities: Asia & |
North America | 46 | ||||||||
| Overseas Equities: Europe/Emerging | Markets | |||||||||
| Alternative Markets: Properly |
3,163 | |||||||||
| Alternative Markets: Infrastructure |
1,500 | |||||||||
| Alternative Markets:Private |
Equity | 1,505 | ||||||||
| 160,671 | 168,615 | |||||||||
| Interest Receivable | ||||||||||
| COIF | Charities Deposit Fund |
1,292 | 101 | |||||||
| Quilter Cheviot | 33 | |||||||||
| 1,S25 | 101 | |||||||||
| 2 | PROMDTING | AND ENHANCING CHARITABLE WORK |
||||||||
| The Charity | makes grants to both individua | Is and institutions | in accordance with its grant-making | policy set out in the Trustees | Report | |||||
| 2023 | 2022 | |||||||||
| E | 5 | |||||||||
| Grants payable to Institutions | (a, b) | 231,000 | 210,810 | |||||||
| Grants adjusted | (9,987) | |||||||||
| Grants to Individuals (c) |
6,000 | 10,000 | ||||||||
| Grant administration costs |
29,697 | 27,067 | ||||||||
| Governance costs (d) | 13,369 | 10,621 | ||||||||
| 270,079 | 258,498 | |||||||||
| (a) | General Charitable | Donations | 38,000 | 35,000 | ||||||
| (b) | Arts Institutions &Organisations |
193,000 | 175,810 | |||||||
| (c) | Individual Donations |
6,000 | 10,000 | |||||||
| 237,000 | 220,810 | |||||||||
| (a) | General | 2023 | 2022 | |||||||
| F. | ||||||||||
| Donations under E5,000were |
given to 37charities | (2022:33) | 38,000 | 35,000 | ||||||
| Total General Donations | 38,000 | 35,000 |
| Arts | Institutions &Organisations |
2023 | 2022 | |
|---|---|---|---|---|
| 6 | ||||
| St Paul's School (Bursary/Creative | Arts Awards) | 26,0M | 24,000 | |
| Byam Shaw School ofArt, CSM (UAL) | 7,500 | |||
| West Dean College | S,BM | 12,000 | ||
| Textile Conservation Foundation |
10,0M | 10,000 | ||
| 5 | The Royal Academy ofArt Schools | 5,500 | 12,000 | |
| 6 | Royal College of Music | 5,500 | 5,500 | |
| 7 | Guildhall School Trust |
11,000 | 10,000 | |
| 8 | Royal Northern College ofMusic |
5,500 | 5,000 | |
| 9 | Bishopsland Educational Trust |
18,000 | 11,250 | |
| 10 | Trinity Laban Conservatnirr | 11,000 | 13,310 | |
| 11 | Bristol Old VicTheatre School | 5,500 | 5,00D | |
| 12 | Guildford School Acting, Surrey Umv |
5,000 | 5,00D | |
| 13 | RADA | 5,500 | 5,000 | |
| 14 | London ContemporaryDanceSchool | 5,500 | 5,000 | |
| 15 | LAMDA | 5,500 | 5,000 | |
| 16 | Royal Drawing School | 6,000 | ||
| 17 | Courtauld institute ofArt |
7,000 | 5,000 | |
| 18 | City ILGuilds ofLondon Art School | 11,000 | 7,000 | |
| 19 | Wimbledon College of Art, UAL |
5,500 | 5,25D | |
| 20 | South House Silver Workshop Trust |
5,000 | ||
| 21 | Royal Welsh Cogege of Music & Drama | 5,500 | 5,00D | |
| 22 | Rambert School of Ballet | 5,500 | 5,000 | |
| 23 | Contemporary British Silversmiths |
10,000 | 3,000 | |
| 24 | Royal Central School ofSpeech Drama | 5,500 | 5,000 | |
| 25 | Royal Conservatoire ofScotland |
5,500 | 5,000 | |
| 26 | Scottish Goldsmiths Trust |
2,000 | ||
| 193,000 | 175,810 |
| LISTED | INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Movements in listed investments |
during the | year were as follows: | 6 | 6 | ||
| Market value at 31July 2022 | 5,375,964 | 5,531,369 | ||||
| Additions at cost |
5,635,611 | |||||
| Disposals at opening market | value | (131,880) | (5,532,425j | |||
| (realised loss: (4,380)(2022 | ||||||
| proat:627, 234) | ||||||
| Net unrealised (losses)/gains |
in the | |||||
| year | (141,337) | (309,601) | ||||
| Marketvalue at31July2022 |
5,102,747 | 5,375,964 | ||||
| Cost oflisted investments at31July 2023 |
5,546,091 | 5,685,611 | ||||
| AR investments were dealt in on a recognised stock exchange |
||||||
| Listed investments held at 31July 2023comprised the following: |
2023 | 2022 | ||||
| 6 | E | |||||
| Uk investment &Unit Trusts |
5,102,747 | 5,375,964 | ||||
| 5,102,747 | 5,375,964 | |||||
| The fallowing holding comprised |
a material | holding | at31July 2023 (porffoiio%) | |||
| Quilter Cheviot Charity Global Income &Growth | Fund (GIGF) | 100% |
| 6 | DEBTORS | ||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| R | E | ||||||
| Accrued investment | income | 37,245 | 45,335 | ||||
| 7 | CASHATBANKANDINHAND | ||||||
| 2023 | 2022 | ||||||
| 6 | E | ||||||
| C Hoare &Co. | Current Account | 22,768 | 27,614 | ||||
| Quilter | Cheviot | Capital Account | |||||
| Income Account | |||||||
| COIF Charities Deposit | Fund | Deposit Account | 43,646 | 11,060 | |||
| ggr424 | 38,674 | ||||||
| 8 | CREDITORS: AMOUNTS | FALUNG DUE | WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||||
| 5 | 6 | ||||||
| 0rant | liabilities (a & | b) | 195,500 | 197,797 | |||
| Grant | administration | &governance | costs | ||||
| Auditors' remuneration |
4,560 | 3,530 | |||||
| 200,060 | 201,327 | ||||||
| (a) | Individ uals | 6,000 | 10,000 | ||||
| (b) | Arts Institutions | &Organisations | 189,500 | 187,797 | |||
| 195,500 | 197,797 |
| 9 | DESIGNATED FUNDS | DESIGNATED FUNDS | ||||
|---|---|---|---|---|---|---|
| The unrestricted | funds ofthe Charity include the foBowing fund designated for specific |
purposes | ||||
| Balance at | New | Utllised | Balance at | |||
| ~01-Au -22 | ~Desi nations | 31-Jul-23 | ||||
| 5 | E | 6 | ||||
| 2023 | 4,755,000 | (255,000) | 4,500,00D | |||
| Balance at | New | Utilised | Balance at | |||
| ~01-Au -21 | Designations | 31-Jul-22 | ||||
| 6 | E | E | ||||
| 2022 | 5,125,000 | (370,000) | 4,755,000 |