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2022-04-30-accounts

Reference and Administrative
Details		 Reference and Administrative
Details
Trustees'
Report		 2to4
Statement ofTrustees' Responsibilities
Independent
Auditors'		 Report 6to 9
Statement of Financial Activities 10to 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14to 21

Reference and Reference and Administrative
Details		 Administrative
Details
Trustees Mr G
l Murdoch
Mr AE Body
Principal Office Stephens
Scown
Osprey House
Malpas Road
Truro
Cornwall
TR1 1UT
Charity Registration Number 1187142
Solicitors Stephens
Scown
Osprey House
Malpas Road
Truro
Cornwall
TR1 1UT
Auditor PKF Francis Clark
Melville
Building		 East
Unit 18
23 Royal William Yard
Plymouth
Devon
PL1 3GW

Unrestricted Total
funds 2022
Note
Income and Endowments from:
Investment
income		 104,861 104,861
Total income 104,861 104,861
Expenditure
on:
Raising funds (24,714) (24,714)
Charitable
activities		 (3,937,753) (3,937,753)
Total expenditure (3,962,467) (3,962,467)
Gains on investment assets 69,361 69,361
Net expenditure (3,788,245) (3,788,245)
Net movement
in funds		 (3,788,245) (3,788,245)
Reconciliation
offunds
Total funds brought forward 7,142,239 7,142,239
Total funds carried forward 14 3,353,994 3,353,994

Total
Unrestricted 2021
Note fundsf f(As
restated)
Income and Endowments from:
Donations
and legacies		 7,158,852 7,158,852
Investment
income		 129,787 129,787
Total income 7,288,639 7,288,639
Expenditure
on:
Raising funds (36,671) (36,671)
Charitable
activities		 (503,000) (503,000)
Total expenditure (539,671) (539,671)
Gains on investment assets 393,271 393,271
Net income 7,142,239 7,142,239
Net movement
in funds		 7,142,239 7,142,239
Reconciliation
offunds
Total funds carried forward 14 7,142,239 7,142,239

30April 2 022
2021
Note 2022f K(As
restated)
Fixed assets
Investments 10 2,856,976 6,060,998
Current assets
Debtors 11 49,000 50,000
Cash at bank and in hand 12 458,018 1,034,241
507,018 1,084,241
Creditors: Amounts falling due within one year 13 (10,000) (3,000)
Net current assets 497,018 1,081,241
Net assets 3,353,994 7,142,239
Funds ofthe charity:
Unrestricted income funds
Unrestricted funds 3,353,994 7,142,239
Total funds 14 3,353,994 7,142,239

2021
2022 E(As
Note restated)
Cash flows from operating activities
Net cash (expenditure)/income (3,788,245) 7,142,239
Adjustments
to cash flows		 from non-cash items
Investment
income		 (104,861) (129,787)
Revaluation
of investments		 513
(3,892,593) 7,012,452
Working capital adjustments
Decrease/(increase)
in debtors		 11 1,000 (50,000)
Increase
in creditors		 13 7,000 3,000
Net cash flows from operating activities (3,884,593) 6,965,452
Cash flows from investing activities
Purchase
of investments		 10 (320,208)
Sale of investments 3,523,717
Investment
assets donated		 (6,060,998)
Income from dividends 104,861 129,787
Net cash flows from investing activities 3,308,370 (5,931,211)
Net (decrease)/increase
in cash and cash equivalents		 (576,223) 1,034,241
Cash and cash equivalents at 1 May 1,034,241
Cash and cash equivalents at 30April 458,018 1,034,241

a) Investm e nt managem ent
 costs
Total Total
Direct costsf 2022f 2021f
Investment management costs 24,174 24,174 36,671
5 Expenditure on charitable activities
Total
Activity 23 December
undertaken Activity Total 2019to 30
directlyf support costs
f		 30April 2022 April 2021
Payments to charitable
organisations 3,930,540 3,930,540 500,000
Governance costs 7„213 7,213 3,000
3,930,540 7,213 3,937,753 503,000

Governance costs
Unrestricted
funds Total Total
General 2022 2021
f.
Audit fees
Audit ofthe financial statements 4,500 4,500
Other fees paid to auditors 2,500 2,500
Independent examiner's fees
Examination ofthe financial statements 3,000
Allocated
support costs		 213 213
7,213 7,213 3,000
7
Net incoming
resources
Net incoming resources for the year include:
2022 2021
Audit fees 4,500
Other non-audit
services		 2,500
Independent Examiner's fees 3,000

Other investments
Listed
investments Total
Cost or Valuation
At 1 May 2021 (As restated) 6,060,998 6,060,998
Revaluation (513) (513)
Additions 320,208 320,208
Disposals (3,523,717) (3,523,717)
At 30 April 2022 2,856,976 2,856,976
Net book value
At 30April 2022 2,856,976 2,856,976
At 30 April 2021 6,060,998 6,060,998
Holding Security Market Vaue (f)
138,585 UK Government 1.875'/0 22/11/22 233,254
200,000 UK Government 2'/o 7/9/25 203,073
136,000 IK Government Idx Lkd 22/11/27 283,924

11 Debtors
2022f 2021f
Other debtors 49,000 50,000
12Cash and cash equivalents
2021
2022f f (As
restated)
Cash at bank 458,018 1,034,241

13Creditors: amounts falling due within one year
2022 2021f
Other creditors 3,000
Accruals 7,000 3,000
10,000 3,000
14Funds
Balance at Other Balance at
1 May 2021
f (As
restated)		 Incoming
resourcesf		 Resources
expended
f		 recognised
gains
f		 30April
2022f
Unrestricted funds
General
Unrestricted fund 7,142,239 104,861 (3,962,467) 69,361 3,353,994
Incoming Resources Other Balance at 30
resourcesf expendedf recognised
gains		 April 2021
f
Unrestricted funds (As restated)
General
Unrestricted fund 7,288,639 (539,671) 393,271 7,142,239

Unrestricted Total funds
funds at 30April
Generalf 2022f
Fixed asset investments 2,856,976 2,856,976
Current assets 507,018 507,018
Current liabilities (10,000) (10,000)
Total net assets 3,353,994 3,353,994

Year Ended 30 April 2022 (continu ed)
Unrestricted Total funds
funds at 30April
2021
General R (As
restated)
Fixed asset investments 6,060,998 6,060,998
Current assets 1,084,241 1,084,241
Current liabilities (3,000) (3,000)
Total net assets 7,142,239 7,142,239

16Analysis
of n		 et funds
At 1 May Financing At 30 April
2021f cash flows 2022f
Cash at bank and in hand 1,034,241 (576,223) 458,018
Net funds 1,034,241 (576,223) 458,018