2022-03-31-accounts

		Page
Legal and Administrative	Details
Report ofthe Trustees		4-10
Report ofthe Independent	Auditor	11-13
Statement ofFinancial Activities		14
Balance Sheet
Statement ofCash Flows		16
Notes to the Financial Statements		17-25

Patron		Baroness Cumberlege	Baroness Cumberlege
Trustees		Dr Jacqueline Gerrard		MBE RM (Chair		to 31 Dec2021)
		Marcia Lord —Lay	Trustee (Vice Chair,			Interim Chair from 1 Jan 2022)
		Dr Phoebe Pallotti	RM	(to 28	October 2021)
		Sheona Brown RM
		Sheryl Grace Thomas		RM
		Benash Nazmeen	RM
		Logan Van Lessen	RM
		Johanna Rhys Davies —Legal Trustee
		Louise De'Ath —Financial Trustee (to 31 March 2022)
		Deepa Verma —Financial Trustee (from 31 March 2022)
Executive	Director	Dr Miranda Scanlon (to 3October 2021)
		Susan Soar (from 4October 2021)
Principal	Address	12 Edmond Locard	Court
		Chepstow
		Monmouthshire
		NP16 6FA
Auditors		PKF Littlejohn LLP
		Statutory Auditors
		15Westferry Circus
		Canary Wharf
		London E144HD
Bankers		Adam &Company	pic
		6Adelaide Street
		London
		WC2N 4HZ
Investment	Advisors	Adam &Company	Investment		Management		Ltd (to 1 October 2021)
		25StAndrew Square
		Edinburgh
		EH2 1AF
		Adam &Company	Wealth Management			(from 1 October 2021)
		40 Princes Street
		Edinburgh
		EH2 2BY
Charity Registration
Number		1191317

			Unrestricted	Endowment	Total	Total
		Notes	Funds	Funds	2022	2021
Income from:
Donations and legacies		2	18,021		18,021	68,667
Investments		3	49,598		49,598	33,557
Total income			67,619		67,619	102,224
Expenditure on:
Raising funds		4	4,173	8,484	12,657	12,419
Charitable activities		5	44,683		44,683	63,668
Total expenditure			48,856	8,484	57,340	76,087
Gain/(loss) on investments				53,336	53,336	200,731
Net income/(expenditure)			18,763	44,852	63,615	226,868
Transfers between	funds	14
Net movement in funds			18,763	44,852	63,615	226,868
Reconciliation offunds:
Total funds, brought	forward		129,111	1,241,318	1,370,429	1,143,561
Total funds carried forward		14	147,874	1,286,170	1,434,044	1,370,429

			Notes	2022		2021
Fixed Assets
Tangible assets			10	113		493
Investments			11	1,415,332		1,370,498
					1,415,445	1,370,991
Current Assets
Debtors and prepayments			12	759		728
Cash at bank and	in	hand		36,123		14,328
				36,882		15,056
Creditors: Amounts		falling due
within one year			13	18,283		15,618
Net Current Assets/(Liabilities)					18,599	(562)
Total Net Assets					1,434,044	1,370,429
Charity Funds
Endowment funds					1,286,170	1,241,318
Unrestricted funds	-	General			48,374	44,111
	-	Designated			99,500	85,000
			14		1,434,044	1,370,429

THE IOLANTHE MIDWIFERY TRUST				AT 3	1 MARCH 2022
				2022	2021
Cash flow provided from operating	activities			(36,250)	(1,214)
Cash flow from investing activities
Investment income received				49,598	33,557
Payments to acquire investments				(34,614)	(76,176)
Receipts from sales ofinvestments				49,449	43,875
Payments to acquire fixed assets				(55)
Transfer (to)/from investments				(6,333)	(4,854)
Net cash flow provided by investing	activities			68,045	(3,598)
Change in cash and cash equivalents		in the	year	21,795	(4,812)
Cash and cash equivalents at start	of	year		14,328	18,140
Cash and cash equivalents at end ofyear				36,123	14,328
Cash and cash equivalents consist	of:
Cash at bank and in hand				36,123	14,328
Reconciliation of net income/(expenditure)			to net cash flow from operating
activities
Net income/(expenditure) for year				63,615	226,868
Investment income receivable				(49,598)	(33,557)
Depreciation oftangible fixed assets				435	2,998
(Gains)/losses on investments				(53,336)	(200,731)
Decrease/(increase) in debtors				(31)	1,457
Increase/(decrease) in creditors				2,665	1,751
Net cash flow provided from operating		activities		(36,250)	(1,214)

ncome from donations	and legacies
				Total	Total
				2022	2021
				6	6
Donations				6,021	8,667
Legacies				12,000	60,000
				18,021	68,667
ncome from donations 2021 -f7,942) and Enil	was 66,021 (2021 - 68,667), (2021-f725) was attributable	all of which to restricted	was attributable funds.	to unrestricted	funds
ncome from investments
				Total	Total
				2022	2021
				F	f
Dividends				49,378	33,281
Bank interest				220	276
				49,598	33,557

			Total	Total
			2022	2021
				6
Fundraising	management	costs	4,173	4,622
Investment	management	costs	8,484	7,797
			12,657	12,419

xpenditure
		Raising	Charitable	Total	Total
		Funds	activities
				2022	2021
			E	E	E
Costs directly allocated to activities
Grants payable			20,815	20,815	36,592
Awards ceremony	costs		70	70	103
Marathon expenses		2,589		2,589	2,605
Investment management		8,484		8,484	7,797
Support costs allocated on the basis ofusage
Office costs		34	647	681	164
ITcosts		106	2,008	2,114	1,825
Subscriptions		4	86	90	135
Staff costs		787	14,965	15,752	12,535
Trustee meeting	travel	49	439	488
Depreciation		22	413	435	2,998
Promotion		60	540	600	754
Auditor's fees		333	2,997	3,330	3,240
Insurance		20	183	203	203
Governance costs		169	1,520	1,689	7,136
Total expenditure		12,657	44,643	57,340	76,087
2021 totals		12,419	63,668	76,087

uring the y	ear, there was an average head count oftwo (	2021 - one) members of part-time st	aff
		2022	2021
Wages and	salaries	15,608	12,350
Employer's	pension contributions	144	185
		15,752	12,535

Tangible Fixed Assets
	Website	Furniture	Total
	Development	&
	IIT	Fittings
Cost	F	8
As at 1 April 2021	11,699	486	12,185
Additions	55		55
As at 31 March 2022	11,754	486	12,240
Depreciation
As at 1 April 2021	11,400	292	11,692
Charge for the year	313	122	435
As at 31 March 2022	11,713	414	12,127
Net Book Values
As at 31 March 2022	41	72	113
As at 31 March 2021	299	194	493

		2022	2021
		E	6
Market values
British Government	Stocks	26,858	27,367
UK fixed interest securities		161,125	203,619
Overseas fixed interest securities		54,141
UK equities and unit	trusts	619,328	624,263
International equities	and equity trusts	435,408	406,350
Property		55,312	56,072
		1,356,172	1,317,671
Cash deposits		59,160	52,827
		1,415,332	1,370,498
Listed investments	summary
Market value at 1 April 2021		1,317,671	1,084,638
Additions at cost		34,614	76,176
Disposals at opening	market value	(56,890)	(70,637)
Unrealised gains/(losses)		60,777	227,494
Market value at 31 March 2022		1,356,172	1,317,671
12.Debtors
		2022f	2021 6
Prepayments		759	728
Debtor
			728
13.Creditors: Amounts	Falling Due Within One Year
		2022	2021
		8	6
Grants payable		13,975	12,371
Other creditors		4,308	3,247
		18,283	15,618

		General	Designated	Endowment	Total
		Funds	funds	funds	2022
Tangible	fixed assets	113			113
Investments		29,662	99,500	1,286,170	1,415,332
Current	assets	36,882			36,882
Current	liabilities	(18,283)			(18,283)
		48,374	99,500	1,286,170	1,434,044

Comparati ve figures
	General	Designated	Endowment	Total
	Funds	funds	funds	2021
Tangible fixed assets	493			493
Investments	44,180	85,000	1,241,318	1,370,498
Current assets	15,056			15,056
Current liabilities	(15,618)			(15,618)
Total expenditure	44,111	85,000	1,241,318	1,370,429

	IT	IMT CIO	Charity	Combined	Total
	(pre-merger)	(pre-merger)	(post-merger)
Total income	6,176		61,443		67,619
Total expenditure	5,416		51,924		57,340
Net income/(expenditure	760		9,519		10,279
Other gains/(losses)	35,573		17,763		53,336
Net movement in funds	36,333		27,282		63,615

		IT	IMT CIO		Combined	Total
		F		6		6
Total income		102,224				102,224
Total expenditure		76,087				76,087
Net income/(expenditure		26,137				26,137
Other gains/(losses)		200,371				200,371
Net movement	in funds	226,868				226,868
Total funds b/f		1,143,561			1,143,561
Total funds c/f		1,370,429			1,370,429

able 3:Ana	l	ysis of net assets a	t the date ofmerger	(6)
				IMT CIO	Combined	Total
Net assets			1,406,762			1,406,762
Re resented		b
Unrestricted		funds	132,946			132,946
Restricted	income funds
Endowment		funds	1,273,816			1,273,816
Total funds			1,406,762			1,406,762