2023-03-31-accounts - The F Glenister Woodger Trust CIO

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			Page
Report ofthe Trustees		1	to	5
Report ofthe Independent Auditors		6	to	7
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement			10
Notes to the Cash Flow Statement
Notes to the Financial Statements		12	to	20
Detailed Statement ofFinancial	Activities		21

							2023	2022
					Unrestricted	Endowment	Total	Total
					fund	fund	funds	funds
				Notes
INCOME AND ENDOWMENTS			FROM
Investment income				2	1,582,381		1,582,381	1,526,439
EXPENDITURE	ON
Raising f'unds					214,925		214,925	297,628
Charitable activities
Grant funding					812,350		812350	742 806
Total					1,027,275		1,027,275	1,040,434
Net. gains/(losses)	on investments				~527,527)	198,685	~328,842)	1,1711,999
NET INCOME					27,579	198,685	226,264	1,665,004
Transfers between funds				14	(1,230,760)	1,230,760
Other recognised Gains/(losses) on	gains/(losses) revaluation offixed assets				~3,316,685)		~3,316,685)
Net movement in	funds				(4,519,866)	I,429,445	(3,090,421)	1,665,004
RECONCILIATION OF FUNDS
Total funds brought forward					47,952,023	2,800,000	50,752,023	49,087,019
TOTAL FUNDS	CARRIED	FORWARD			43,432,157	4,229,445	47,661,602	50,752,023

					2023	2022
			Unrestricted	Endowment	Total	Total
			fund	fund	funds	funds
		Notes
FIXEDASSETS
Tangible assets		8	1,700,000		1,700,000	1,700,000
Investments
Investments		9	19,499,993		19,499,993	18,029,417
Investment property		10	21,006,914	4,229,445	25,236,359	29,212,462
			42,206,907	4,229,445	46,436,352	48,941,879
CURRENT ASSETS
Debtors		11	263,013		263,013	397,388
Cash at bank			1,981,430		1,981,430	2,144,188
			2,244,443		2,244,443	2,541,576
CREDITORS
Amounts falling due within	one year	12	(773,125)		(773,125)	(576,373)
NET CURRENT ASSETS			1,471,318		1,471,318	1,965,203
TOTAL ASSETS LFSSCURRENT
LIABILITIES			43,678,225	4,229,445	47,907,670	50,907,082
CREDITORS
Amounts falling due after more than one year		13	(246,068)		(246,068)	(155,059)
NET ASSETS			43,432,157	4,229,445	47,661,602	50,752,023
FUNDS		14
Unrestricted funds					43,432,157	47,952,023
Endowment funds					4,229,445	2,800,000
TOTAL FUNDS					47,661,602	50,752,023

				2023	2022
			Notes
Cash flows from operating	activities
Cash generated from operations				859,085	316,336
Net cash provided by operating		activities		859,085	316,336
Cash flows from investing	activities
Purchase offixed asset investments				(6,216,346)	(7,625,222)
Purchase ofinvestment property				(840,582)	(109,706)
Sale offixed asset investments				4,218,243	7,618,143
Sale ofinvestment property				1,698,685
Interest received				8,345	3,350
Dividends received				109,812	185,167
Net cash (used in)/provided	by	investing	activities	~1,021,843)	71,732
Change in cash and cash	equivalents		in
the reporting period				(162,758)	388,068
Cash and cash equivalents	at	the
beginning ofthe reporting	period			2,144, 188	1,756, 120
Cash and cash equivalents	at	the end	of
tlie reporting period				1,981,430	2,144,188

	RECONCILIATION	RECONCILIATION	OF NET INCOME TO NET CASII FLOW FROM	OF NET INCOME TO NET CASII FLOW FROM	OPERATING
	ACTIVITIES
					2023	2022
	Net income for the	reporting		period (as per the Statement ofFinancial
	Activities)				226,264	1,665,004
	Adjustments for:
	Losses/(gain) on investments				328,842	(1,178,999)
	Interest received				(8,345)	(3,350)
	Dividends received				(109,812)	(185,167)
	Decrease in debtors Increase/(decrease)	in	creditors		134,375 287,761	39,455 ~20,607
	Net cash provided	by	operations		859,085	316,336
2.	ANALYSIS OF CFIANGES			IN NET FUNDS
				At 1.4.22	Cash flow	At 31.3.23
	Net cash
	Cash at bank			2,144, 188	~162,758)	1,981,430
				2,144,188	~162,758)	1,981,430
	Total			2,144, 1118	~162,758)	1,981,430

		2023	2022
Rents receivable		870,456	813,681
Income from listed	investments	593,768	524,241
Lease terminations	and extensions	109,812	185,167
Interest receivable		7,023	387
Other income		1,322	2,963
		1,582,381	1,526,439

Investment	management	management
					2023	2022
Property maintenance		cost			125,229	215,044
Professional	fees for property		management		79,104	69,683
Legal and professional		fees for	property	management	10,592	12,901
					214,925	297,628

4.	CHARITABLE ACTIVITIES COSTS
		Grant
		funding of
		activities	Support
		(see note	costs (see
		5)	note 6)	Totals
	Grant funding	766,938	45,412	812,350
5.	GRANTS PAYABLE
			2023	2022
	Grant fundtng		766,938	699,909

GRANTS PAYABLE - continu	ed
					2023	2022
The Academy, Selsey						5,000
Apuldram Centre						5,000
Blesma					2,000	2,000
Calibre Audio					2,000	1,000
Cancer wise					15,000
Carers Support West Sussex						20,000
Chichester Bell Tower Youth Drop		in Centre			3,000	2,000
Chichester Boys' Club						5,000
Chichester Canoe Club						2,000
Chichester Harbour Conservancy						77,528
Chichester Harbour Trust						18,400
Chichester Rugby Football Club					75,000
Chichester Runners and Athletic	Club					20,000
Dementia Support						150,000
Donnington House Care Home					10,000
Downview Community Youth Group					60,000
Downview Community Hall					828
East Wittering &Bracklesham	Parish Council				2, 104
Friends ofEast Wittering Community			Primary	School	59,000	7,531
Friends ofWest Wittering Primary		School			1,500
Friends ofWittering Medical Centre					1,749
Home-Start Chichester and District					136,606
Kent, Surrey &Sussex Air Ambulance					25,000	15,000
Local Primary Schools STEM Project					285,000
Manhood Peninsula Partnership						1,500
Manhood Wildlife and Heritage	Group					80,000
PBCFoundation					375	365
Pregnancy Options Centre					5,000	3,000
RNIB					1,500	1,600
Rotary Club ofChichester Harbour					15,000	10,000
Sanctuary in Chichester					2,000
Sidlesh&un Primary School					10,000
Spinal Injuries Association					2,000	1,000
St. Anthony's School						16,000
St Peter's Roman Catholic Church		Hall			80,000
University ofChichester					468	161,507
Unloc					22,050
Walking with the Wounded					2,000	2,000
West Sussex Mediation Service						1,200
West Wittering Cricket Club						3,500
West Wittering Memorial Hall						1,065
West Wittering Parish Council					800	26,496
West Wittering Parochial Church		Council			10,000
West Wittering Parochial School						50,000
Witterings &District Bowls Club						7,500
Witterings Short Mat Bowls Club						4.000
Wittering United Football Club					650
Youth Dream Selscy					7,758
Less grants written off in year					838,388 ~71,450)	701,192 ~1,283)
Iotal grants					766,938	699,909

TANGIBLE FIXED ASSETS
	Freehold
	property	Land	Totals
COST
At 1st April 2022 and 31stMarch 2023	700,000	1,000,000	1,700,000
NFT BOOK VALUE
At 31stMarch 2023	700,000	1,000,000	1,700,000
At 31st March 2022	700,000	1,000,000	1,700,000

						Cash and
				Listed	Unlisted	settlements
			investments		investments	pending	Totals
	MARKET VALUE
	At 1stApril 2022		17,514,590		3,952	510,875	18,029,417
	Additions		6,216,346			7,166,889	13,383,235
	Disposals		(5,129,722)			(6,813,906)	(11,943,628)
	Revaluations			30,969			30,969
	At 31st March 2023		18,632,183		3,952	863,858	19,499,993
	NET BOOK VALUE
	At 31stMarch 2023		18,632,183		3,952	863,858	19,499,993
	At 31st March 2022		17,514,590		3,952	510,875	18,029,417
	FIISTORICAL COST
	At 31 March 2023						16,777,901
	At 31 March 2022						15,196,773
	Investment assets	held are detailed	as follows:
						2023	2022
	UK					15,336,400	13,553,007
	Europe					1,860,672	1,835,651
	North America					1,435, 111	2,125,932
	Cost or valuation	at 31st March 2023 is represented		by:
						Cash and
				Listed	Unlisted	settlements
				investments	tnvestments	pending	Totals
	Valuation in 2023		18,632,183		3,952	863,858	19,499,993
10.	INVESTMENT	PROPERTY
	FAIR VALUE
	At 1st April 2022						29,212,462
	Additions						840,582
	Disposals Revaluation						(1,500,000) ~3,316,685)
	At 31stMarch 2023						25,236,359
	NET BOOK VALUF.
	At 31stMarch 2023						25,236,359
	At 31st March 2022						29,212,462

DEBTO	RS:AMOUNTS FALLING DUE WITHIN ON	E YEAR
		2023	2022
Due from	Astons	37,854	40,442
Due from Dividends	I-Iellier Langston in transit	19,532 122,021	139,148 123,917
Accrued	interest	1,188	160
Prepayments and accrued income Accrued income		31,843 50,575	39,227 54,494
		263,013	397,388

			2023	2022
VAT			12,533	12,231
Other creditors			565,313	402,570
Accruals	and deferred	income	195,279	161,572
			773,125	576,373

CRE	DITORS: AMOUNTS FALLING DUE A	FTER MORE THAN ONE YEAR
		2023	2022
Other	creditors	246,068	155,059

	Schools STEM	Schools STEM	Project f151,66	7,	Homestart Chichester 8c Dis	trict K83,051 and	Youth Dream Se	lsey f4,000.
14.	MOVEMENT		IN FUNDS
						Net	Transfers
						movement	between	At
					At 1.4.22	in funds	funds	31.3.23
	Unrestricted	funds
	General fund				47,952,023	(3,289,106)	(1,230,760)	43,432,157
	Endowment	funds
	Endowment				2,800,000	198,685	1,230,760	4,229,445
	TOTAL FUNDS				50,752,023	~3,D90,421)		47,661,602
	Net movement		in funds, included		in the above are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
	Unrestricted		funds
	General fund				1,582,381	(1,027,275)	(3,844,212)	(3,289,106)
	Fndowment		funds
	Endowment						198,685	198,685
	TOTAL FUNDS				1,582,381	1),027,275)	13,645,527)	13,090,421)
	Compar atives for movement			in	funds
							Net
							movcnlcllt	At
						At 1.4.21	in funds	31.3.22
	Unrestricted		funds
	General fuMI					46,287,019	1,665,004	47,952,023
	Endowment		funds
	Endowment					2,800,000		2,800,000
	TOTAL FUNDS					49,087,019	1,665,004	50,752,023

					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
						f.
Unrestricted	funds
General fund					1,526,439	(1,040,434)	1,178,999	1,665,004
TOTAL FUNDS					1,526,439	~1,040,434)	1,178,999	1,665,004
A current year		12 months	and prior	year 12 months	combined	position is as follows:
						Net	Transfers
						movement	between	At
					At 1.4.21	in funds	funds	31.3.23
						f,
Unrestricted		funds
General fund				46,287,019		(1,624,102)	(1,230,760)	43,432,157
Endowment	funds
Endowment					2,800,000	198,685	1,230,760	4,229,445
TOTAL FUNDS				49,087,019		~1,425,417)		47,661,602

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
					f.
Unr'estricted	funds
General fund		3,108,820	(2,067,709)	(2,665,213)	(1,624, 102)
Endowment	funcls
Endowment				198,685	198,685
TOTAL FUNDS		3,108,820	~2,067,709)	~2,466,528)	~1,425,4)7)

					2023	2022
INCOME AND ENDOWMENTS
Investment income
Rents receivable					870,456	813,681
Income from listed investments					593,768	524,241
Lease terminations and	extensions				109,812	185,167
Interest receivable					7,023	387
Other income					1,322	2,963
					1,582,381	1,526,439
Total incoming resources					1,582,381	1,526,439
EXPENDITURE
Investment management		costs
Property maintenance	cost				125,229	215,044
Professional fees for property			management		79,104	69,683
Legal and professional	fees for		property
management					10,592	12,901
					214,925	297,628
Charitable activities
Grants to institutions					766,938	699,909
Support costs
Governance costs
Auditors' remuneration					13,867	12,323
Auditors' remuneration for non audit				work		1,361
Accountancy and legal fees					1,224	1,930
Trustee meeting expenses					2,029	621
Trust administration	costs				28,292	26,662
					45,412	42,897
Total resources expended					1,027,275	1,040,434
Net income before gains		and	losses		555,106	486,005
Realised recognised	gains and losses
Realised gains/(losses)	on	fixed asset		investments	(558,496)	144,342
Realised gains/(losses)	on	investment		property	198,685
Net income					195,295	630,347