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|||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||||||
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||||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)|
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|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|
##
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||||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||
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##
|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|