2023-04-05-accounts

Reference and Administrative	Reference and Administrative	Details
Trustees' Report			2to 4
independent Auditors'	Report		5to 8
Statement of Financial	Activities
Balance Sheet			10
Cash Flow Statement
Notes tothe Financial	Statements		12to 22

Trustees				Sir lan Heathcoat	Sir lan Heathcoat	Amory,	Bt DL
				Mrs Catherine	Elizabeth		Cavender
Charity Registration			Number	204958
Principal	Office			The Island
				Lowman Green
				Tiverton
				Devon
				EX164LA
Auditor				Weslcotts (SW) LLP
				47 Boutport Street
				Bamstaple
				Devon
				EX31 1SQ
Solicitors				Ashfords
				Ashford House
				Grenadier Road
				Exeter
				Devon
				EX1 3LH
Bankers				Lloyds Bank PLC
				Tiverton
				46 Fore Street
				Tiverton
				Devon
				EX166LF
Investment		brokers		Kleinwort Hambros
				8St James's Square
				London
				SW1Y4JU
Administration				Lawman Manufacturing			Company	Ltd
				The Island
				Lowman Green
				Tiverton
				Devon EX164LA

			Unrestricted	Endowment	Total	Total
			funds	funds	2023	2022
		Note		E	E	E
Income and Endowments		from:
Investment income		3	506,752		506,752	405,274
Total income			506,752		506,752	405,274
Expenditure on:
Raising funds Charitable activities			(84,019) ~(414.287		(84,019) ~(414,287	(91,326) ~412,331
Total expenditure			(498,306)		(498,306)	(503,657)
Gains/(losses) on investment assets			~(,300,202		~(,300.202	200,094
Net (expenditure)/income			(1,291,756)		(1,291,756)	101,711
Reconciliation of	funds
Total funds brought	forward		13,832,184	312,500	14,144,684	14,042,973
Total funds carried	forward	17	12,540,428	312,500	12,852,928	14,144,684

Balance S	heet as	at 5April 2023
				2023	2022
			Note
Fixed assets
Investments			11	12,686,150	14,121,492
Current assets
Debtors			12	12,072	15,235
Cash at bank	and in hand		13	184,429	53,337
Creditors: Amounts		falling due within one year	14	196,501 ~29,333	68,572 ~40.380
Net current	assets			166,778	28,192
Total assets less current liabilities Creditors: Amounts falling due after more than one year			15	12,852,928	14,149,684 ~5,QDO)
Net assets				12,852,928	14,144,684
Funds ofthe charity:
Endowment	funds			312,500	312,500
Unrestricted	income	funds
Unrestricted	funds			12,540,428	13,832,184
Totalfunds				12862,928	14,144.084

Cash Flow Statement	f	or the Year	Ended 5	April	2023
						2023	2022
					Note	6	6
Cash flows from operating		activities
Net cash (expenditure)/income						(1,291,756)	101,711
Adjustments to cash flows		from non~ah	items
Investment income Revaluation of investments						(506,752) 924,636	(405,274) ~164,273
						(873,878)	(457,836)
Working capital adjustments
Decrease/(increase) in debtors Decrease in creditors Net cash flows from operating activities					12 14	3,163 ~15,657 ~888,372	(1,411) ~27,249 ~(476396,
Cash flows from investing		activities
Acquisitions ofinvestments						(3818 796)	(3 343 055)
Proceeds from sale ofinvestments						4,547,957	3,150,378
Cash in or out ofendowment		funds from the	acquisition	and
disposal ofinvestments						(218,449)	238,567
Dividend income						506,752	405,274
Net cash flows from investing		acbvities				1,017,464	451,164
Net increase/(decrease) in cash and cash equivalents						131,092	(25,232)
Cash and cash equivalents	brought forward					53,337	78,569
Cash and cash equivalents	carried forward					184,429	53,337

				Unrestricted
				funds	Total
				General	2023
Income	from dividends;
Income	from listed	investments		239,596	239,596
Income	from other	unlisted	investments	33,563	33,563
Property	income dividends			9,371	9,371
Interest	on stock			122,173	122,173
Interest	on deposit	with stockbrokers		4,268	4,268
Foreign	Dividends	- quoted	shares	97,781	97,781
				506,752	506,752
				Unrestricted
				funds	Total
				Generalf	2022 8
Income	from listed	investments		203,417	203,417
Income	from other	unlisted	investments	33,562	33,562
Interest	on stock			95,541	95,541
Foreign	Dividends	-quoted	shares	72,754	72,754
				405,274	405,274

			Unrestdcted
			funds	Total
			Generalf	2023f
Other investment	management	costs;
Other porffolio	management	costs	84,019	84,019
			84,019	84,019
			Unrestricted
			funds	Total
			Generalf	2022f
Other investment	management	costs;
Other portfolio	management	costs	91,326	91,326
			91,326	91,326

5 Expenditure on charitable activ	ities
	Unrestricted
	funds	Total	Total
	Generalf	2023f	2022f
Grants payable	409,656	409,656	406,547
Bank charges			30
Website costs	84	84	108
Audit fees	3,560	3,560	4,660
Accountancy fees	640	640	640
Trustees' expenses	347	347	346
	414,287	414,287	412,331

Support cos	ts allocated to charitable activiti	es
		Other
		support	Total
		costs	2023
		8	8
Website costs		84	84
Audit fees		3,560	3,560
Accountancy	fees	640	640
Trustees' expenses		347	347
		4,631	4,631
		Other
		support	Total
		costsf	2022 8
Bank charges		30	30
Website costs		108	108
Audit fees		4,660	4,660
Accountancy	fees	640	640
Trustees' expenses		346	346
		5,784	5,784

Analysis ofgrants
	Grants to	institutions	Grants to	individuals
	2023	2022	2023	2022
	8	8		8
Analysis
Educational	209,972	202,739	8,508	14,478
General - social and
environmental	158,121	145,910
General - health	9,745	18,400	2,070	4,670
General - relief of poverty	6,640	10,350
Religious	14,600	10,000
	399,078	387,399	10,578	19,148

				2023	2022
				6	6
Educational
Birkenhead school				12,000	12,000
Blundell's school				54,699	40,249
Bymore Academy					6,350
Cheltenham College					12,021
Devon County Council				5,050
Exeter Cathedral	School			44,700	39,800
Exeter School					6,000
Royal Ballet School					6,000
Tubers Academy	Ltd			12,258
				128,707	122,420
General - Social	&Environmental
Rona Sailing Project				110,500	96,510
Westcountry Rivers		Trust			15,000
				110,500	111,510
General - Health
Exeter Paediatric	Integrated		Care Solutions		9,000
					9,000
General - Relief	of Poverty
Churches Housing		Action Team			6,750
					6,750
				239,207	249,680

11 Fixed asset Investm	ents
						2023f	2022f
Cash held as part of investment		funds				552,510	334,061
Fixed Asset Investments						12,133,640	13,787,431
						12,686,150	14121.492
		Listed		Unlisted
		investmentsf	investments		f	2023 f	2022f
Cost orValuation
At 6 April 2022		12,841,086		946,345		13,787,431	13,440,481
Revaluation		(914,576)		(10,054)		(924,630)	154,273
Additions Disposals		3,818,796 ~4547857.		,	-	3,818,796 ~4,547,857	3,343,055 ~3,150,378
At 5 April 2023		11,197,349		936,291		12,133,640	13,787,431
Cash held as part ofinvestment funds		552,510				552,510	334,061
		11,749,859		936,291		12,686,150	14,121,492
12Debtors
						2023 f	2022 f
Other debtors						12.572	15235
13Cash and cash equivalents
						2023f	2022f
Cash at bank						184,429	53,337
14Creditors: amounts	falling	due within one year
						2023	2022f
Other creditors						25,523	36,180
Accruals						4,200	4,200
						29,723	40,380

17Funds
						Other
		Balance				recognised	Balance
		at 6Apdil 2022 f	Incoming resources f	Resources expended f	Transfersf	gainsl (losses) f	at 5April 2023f
Unrestricted	funds
General
General Funds		13,808,992	506,752	(175,755)	(466,137)	(1,300,202)	12,373,650
Designated Funds		23,192		~322,557	466,137		166,778
		13,832,184	506,752	(498,306)		(1,300,202)	12,540,428
Endowment	funds
Permanent
The Trust	Fund	312,500					312,500
Total funds		14.144,684	566,752	~4M,3M		~1,3M,282	12,852,928