| Page | ||
|---|---|---|
| Trustees' report |
1-2 | |
| Statement oftrustees' | responsibilities | |
| Accountants' report |
||
| Statement offinancial | activities | |
| Balance sheet | ||
| Statement ofcash flows | ||
| Notes to the financial | statements |
| Trustees | JR Fletcher OBE | ||||
| Mr N Smillie | |||||
| AJ Golightly | |||||
| Charity | number | 1193635 | |||
| Registered | office | c/o PM+M Solutions for | Business LLP | ||
| New Century House |
|||||
| Greenbank Technology |
Park | ||||
| Challenge Way |
|||||
| Blackburn | |||||
| Lancashire | |||||
| BB15QB | |||||
| Accountants | PM+M Solutions | for Business LLP | |||
| New Century House |
|||||
| Greenbank Technology |
Park | ||||
| Challenge Way |
|||||
| Blackburn | |||||
| BB15QB | |||||
| Portfolio | Managers | Bank Julius Baer | & Co. | Ltd | |
| No 1,The Plaza | |||||
| Elizabeth Avenue | |||||
| Guernsey | |||||
| GY1 4BS |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| Notes | E | E | ||
| Income from: | ||||
| Donations and |
legacies | 944,221 | ||
| Investments | 9,475 | 5,256 | ||
| Total income | 9,475 | 949,477 | ||
| Charitable activities |
11,167 | 11,029 | ||
| Net losses on investments | (66,664) | (14,343) | ||
| Net income/(expenditure) | (68,356) | 924,105 | ||
| Other recognised gains and losses: |
||||
| Other gains | 19,857 | 14,736 | ||
| Net movement | in funds | (48,499) | 938,841 | |
| Reconciliation | offunds: | |||
| Fund balances | at 6 April 2022 | 938,841 | ||
| Fund balances | at 5April 2023 | 890,342 | 938,841 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | R | |||||||
| Fixed assets | ||||||||
| Investments | 12 | 851,845 | 867,591 | |||||
| Current assets | ||||||||
| Cash at bank and | in | hand | 45,097 | 75,150 | ||||
| Creditors: amounts | falling due within | 14 | ||||||
| one year | 6,600 | 3,900 | ||||||
| Net current assets | 38,497 | 71,250 | ||||||
| Total assets less | current liabilities | 890,342 | 938,841 | |||||
| The funds ofthe | charity | |||||||
| Unrestricted funds |
890,342 | 938,841 | ||||||
| 890,342 | 938,841 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| Cash flows from operating | activities | ||||||
| Cash generated from operations |
17 | 11,390 | 951,829 | ||||
| Investing | activities | ||||||
| Purchase | ofinvestments | (146,727) | (2,049,411) | ||||
| Proceeds | from disposal of investments | 115,665 | 1,180,774 | ||||
| Investment | income received | 9,475 | 5,256 | ||||
| Net cash | used in investing | activities | (21,587) | (863,381) | |||
| Net cash | used in financing | activities | |||||
| Net (decrease)/increase in cash and |
cash | ||||||
| equivalents | (10,197) | 88,448 | |||||
| Cash and | cash equivalents | at beginning | ofyear | 75,150 | |||
| Effect offoreign exchange rates | (19,856) | (13,298) | |||||
| Cash and | cash equivalents | at end of | year | 45,097 | 75,150 |
| Investments | Investments | Investments | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||||
| E | E | |||||||||
| Direct costs | ||||||||||
| Foreign Taxation | 1,772 | 817 | ||||||||
| Porffolio Management | and administration | fees | 6,695 | 6,312 | ||||||
| 8,467 | 7,129 | |||||||||
| Share of | support and | governance | costs (see note 6) | |||||||
| Governance | 2,700 | 3,900 | ||||||||
| 11,167 | 11,029 | |||||||||
| Analysis | by | fund | ||||||||
| Unrestricted | funds | 11,167 | 11,029 | |||||||
| 6 | Support | costs | ||||||||
| Support | Governance | 2023 | 2022 | |||||||
| costs | costs | |||||||||
| K | E | |||||||||
| Accountancy | fees | 2,700 | 2,700 | 3,900 | ||||||
| 2,700 | 2,700 | 3,900 | ||||||||
| Analysed | between | |||||||||
| Charitable | activities | 2,700 | 2,700 | 3,900 |
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| Gains/(losses) | arising on: | E | ||
| Revaluation ofinvestments Sale ofinvestments |
(45,797) (20,867) |
8,976 (23,319) |
||
| (66,664) | (14,343) |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Gains/(losses) | upon: | ||
| Foreign exchange | (19,857) | (14,736) |
| Unlisted | ||
|---|---|---|
| investments | ||
| Cost or valuation | f | |
| At 6April Additions Valuation Disposals |
2022 changes |
867,591 146,727 (25,941) (136,532) |
| At 5April | 2023 | 851,845 |
| Carrying | amount | |
| At 05April | 2023 | 851,845 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| f | ||||||
| Carrying | amount of | financial assets | ||||
| Instruments | measured | at fair value through | profit or loss | 851,845 | 867,591 |
| 2023 | 2022 |
|---|---|
| E | |
| 6,600 | 3,900 |
| At 6April 2022 |
Incoming resources |
Resources expended |
Gains and losses |
At 5April 2023 |
||
|---|---|---|---|---|---|---|
| E | ||||||
| General | funds | 938,841 | 9,475 | (11,167) | (46,807) | 890,342 |
| Previous | Period: | At 6April 2021 |
Incoming resources |
Resources expended |
Gains and losses |
At 5April 2022 |
| General | funds | 949,477 | (11,029) | E 393 |
E 938,841 |
| 17' | There were no disclosable related party tra |
There were no disclosable related party tra |
nsactions d |
uring the year (2022 | -none). | |
|---|---|---|---|---|---|---|
| Cash generated from operations |
2023 | 2022 | ||||
| E | E | |||||
| (Deficit)/surpus for the year |
(68,356) | 924,106 | ||||
| Adjustments for: |
||||||
| Investment income recognised Foreign exchange differences Loss on disposal ofinvestments Fair value gains and losses on |
in statement investments |
offinancial | activities | (9,475) 19,857 20,867 45,797 |
(5,256) 14,736 23,319 (8,976) |
|
| Movements in working capital: |
||||||
| Increase in creditors |
2,700 | 3,900 | ||||
| Cash generated from operations |
11,390 | 951,829 | ||||
| 18 | Analysis ofchanges in net funds |