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|---|---|---|
|Trustees'
report||1-2|
|Statement oftrustees'|responsibilities||
|Accountants'
report|||
|Statement offinancial|activities||
|Balance sheet|||
|Statement ofcash flows|||
|Notes to the financial|statements||
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|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|||
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||||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|
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||||||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|
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|||||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|
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|||||||||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|
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||||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)|
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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2023|2022|
|Gains/(losses)|upon:|||
|Foreign exchange||(19,857)|(14,736)|
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|||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|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|||||||f|
|Carrying|amount of||financial assets||||
|Instruments||measured|at fair value through|profit or loss|851,845|867,591|
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|2023|2022|
|---|---|
||E|
|6,600|3,900|
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|||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|
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|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||||||