| Page | |
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| TRUSTEES' ANNUAL REPORT |
1-4 |
| INDEPENDENT EXAMINER'S REPORT |
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| STATEMENT OF FINANCIAL ACTIVITIES |
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| BALANCE SHEET | |
| STATEMENT OF CASHFLOWS | |
| NOTES TO THE FINANCIAL STATEMENTS |
9-15 |
| Reference | and Administration | Details ofthe Charity its Trustees | Details ofthe Charity its Trustees | and Advisors | and Advisors | and Advisors | |||
|---|---|---|---|---|---|---|---|---|---|
| Settlor | Rt Hon Bryan | Walter, Second | Lord Moyne | ||||||
| Registered | Charity Number | 205375 | |||||||
| Trustees | The Hon Finn |
Benjamin | Guinness | ||||||
| The Hon Rosaleen | Elisabeth | Mulji | |||||||
| The Hon Catriona | Rose Guinness | ||||||||
| The power of | appointing | Trustees isvested | in The Honourable | Rosaleen | |||||
| Elisabeth Mulji. |
|||||||||
| Principal Office | Biddesden House |
||||||||
| Andover | |||||||||
| Hampshire | |||||||||
| SP119DN | |||||||||
| Solicitors | Withers LLP |
||||||||
| 20 Old Bailey | |||||||||
| London | |||||||||
| EC4M 7AN | |||||||||
| Independent | Examiner | Stephen Mason | BScFCA | ||||||
| FKCA Limited | |||||||||
| 260-270 Butterfield | |||||||||
| Great Marlings | Luton | ||||||||
| Bedfordshire | |||||||||
| LU2 BDL | |||||||||
| Accountants | TMF Global Services (UK) | Ltd | |||||||
| 960Capability | Green | ||||||||
| Luton | |||||||||
| Bedfordshire | |||||||||
| LU1 3PE | |||||||||
| Investment | Managers | Cazenove Capital Management | |||||||
| 1London Wall | Place | ||||||||
| London | |||||||||
| EC2Y SAU | |||||||||
| Bankers | Cazenove Capital |
Management | |||||||
| 1London Wall | Place | ||||||||
| London | |||||||||
| EC2Y 5AU |
| Unrestricted | Funds | |||||
|---|---|---|---|---|---|---|
| Expendable | Total | Total | ||||
| Endowment | Income | 2023 | 2022 | |||
| Note | ||||||
| INCOME AND ENDOWMENTS | ||||||
| Investments | 186,637 | 186,637 | 154,722 | |||
| TOTAL INCOME | 186,637 | 186,637 | 154,722 | |||
| EXPENDITURE | ||||||
| Cost of raising funds | 29,348 | 29,348 | 27,661 | |||
| Charitable activities |
191,804 | 191,804 | 166,568 | |||
| TOTAL EXPENDITURE | 29,348 | 191,804 | 221,152 | 194,229 | ||
| NET INCOME/(EXPENDITURE} | BEFORE GAINS | |||||
| AND LOSSESON INVESTMENTS | (29,348) | (5,167) | (34,515) | (39,507) | ||
| Net gains/(losses) on investments |
(600,226) | (600,226) | 947,718 | |||
| NET INCOME/(EXPENDITURE) | AFTER GAINS | |||||
| AND LOSSESON INVESTMENTS | (629,574) | (5,167) | (634,741,} | 908,211 | ||
| TRANSFER BETWEEN FUNDS | (5,167) | 5,167 | ||||
| OTHER RECOGNISED GAINS/(LOSSES) | ||||||
| Net gains/(losses) on foreign currency exchange |
17,617 | 17,617 | 8,176 | |||
| NET MOVEMENT IN FUNDS |
(617,124) | (617,124) | 916,387 | |||
| FUND BALANCES BROUGHT FORWARD | 11,225,192 | 11,225,192 | 10,308,805 | |||
| FUND BALANCES CARRIED FORWARD | 10,608,068 | 10,608,068 | 11,225,192 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | f | f | |||||
| Cash flows from operating | activities: | ||||||
| Net cash provided by (used in) operating |
activities | 14 | (219,129) | (194,814) | |||
| Cash flows from investing | activities: | ||||||
| Investment income |
186,637 | 154,722 | |||||
| Proceeds from sale of investments | 1,607,820 | 2,008,980 | |||||
| Purchase of investments | (1,746,869) | (1,912,607) | |||||
| Net cash provided by (used in) investing |
activities | 47,588 | 251,095 | ||||
| Cash flows from financing | activities: | ||||||
| Gain/(loss) on foreign currency exchange |
17,617 | 8,176 | |||||
| Net cash provided by (used in) financing |
activities | 17,617 | 8,176 | ||||
| Change in cash and cash equivalents |
in the year | (153,924) | 64,457 | ||||
| Cash and cash equivalents | at the beginning | ofthe year | 274,351 | 209,894 | |||
| Cash and cash equivalents | at the end | of | the year | 120,427 | 274,351 | ||
| 2023 | 2022 | ||||||
| Note | f | ||||||
| Represented by: |
|||||||
| Cash held within the investment portfolio |
117,116 | 271,850 | |||||
| Cash at bank | 3,311 | 2,501 | |||||
| 120,427 | 274,351 |
| Investment | income | income | 2023 | 2022 | |
|---|---|---|---|---|---|
| E | E | ||||
| Geographically: | |||||
| Within the | UK | 99,404 | 93,195 | ||
| Outside the | UK | 79,754 | 61,507 | ||
| 179,158 | 154,702 | ||||
| Interest on | cash deposits | 7,479 | 20 | ||
| 186,637 | 154,722 | ||||
| All investment | income relates to quoted investments. | ||||
| COST OF RAISING FUNDS | |||||
| 2023 | 2022 | ||||
| f | E | ||||
| Investment | management | charges | 29,348 | 27,659 | |
| Bank charges | 2 | ||||
| 29,348 | 27,661 |
| in furtherance | of its char | itable objectives. |
|||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| f | f | ||||
| Grant funded | activity | 184,843 | 160,595 | ||
| Support and | governance | costs - Governance | -income | 6,961 | 5,973 |
| 191,804 | 166,568 |
| Gra | nts over f1,000 in | d | es | c | end | ing o |
rder ofma | gnitude | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fare Share S.W. | for food | banks | 5,000 | ||||||||||||
| 2 | Prospect Hospice, Swindon | towards | clinical nursing |
service | 5,000 | |||||||||||
| 3 | Marie Curie | for work | inWiltshire | and | neighbourin | g counties | 5,000 | |||||||||
| 4 | Samaritans | for work | in Wilts hire | and | neighbouri | ng counties | 5,000 | |||||||||
| 5 | Macmillan CancerSupport |
General | donation | 5,000 | ||||||||||||
| 6 | NSPCC | for Swindon &Wiitshire |
5,000 | |||||||||||||
| 7 | Prisoners' Advice Service |
General | donation | 4,000 | ||||||||||||
| 8 | Salisbury Cathedral | for work | in Wiltshire | 4,000 | ||||||||||||
| 9 | Swindon MS & Neuro |
Therapy Centre | towards | salaries | 3,000 | |||||||||||
| 10 | Listening Books |
to subsidise access in Wiltshire |
3,000 | |||||||||||||
| 11 | NASS | patients | group at at GW | Hospital | Swi | ndon | 3,000 | |||||||||
| 12 | MHA Communities | Swindon | for work | i n Wi Its hi re | 3,000 | |||||||||||
| 13 | Maggie's Southampton |
for work | in Hampshire | 3,000 | ||||||||||||
| 14 | Prisoners Education |
Trust | for work | in Wiltshire | 3,000 | |||||||||||
| 15 | Salisbury Food Bank |
for work | in Wiltshire | 3,000 | ||||||||||||
| 16 | NHS Great Western | Hospita | I | Way forwa rd Progra mme | 3,000 | |||||||||||
| 17 | Salisbury District Hos pital |
towa rds | the Patient Fund | 3,000 | ||||||||||||
| 18 | Anthony Nolan |
post tra ns p Iant care | 3,000 | |||||||||||||
| 19 | Revitalise | for work | in Wiltshire | 2,079 | ||||||||||||
| 20 | MNDA | General | donation | 2,000 | ||||||||||||
| 21 | Living Paintings | for work | in Wiltshire | 2,000 | ||||||||||||
| 22 | Arts Together | for work | in Wiltshire | 2,000 | ||||||||||||
| 23 | Turn2Us | for work | in Wiltshire | 2,000 | ||||||||||||
| 24 | Salvation Army |
for work | in Wilts hire | 2,000 | ||||||||||||
| 25 | Cavell Nurses' Trust |
for work | in Wiltshire | 2,000 | ||||||||||||
| 26 | Fight Against Blindness | towards | clinical psychology |
in Southe | rn Region | 2,000 | ||||||||||
| 27 | Amber | for work | in Wilts hire | 2,000 | ||||||||||||
| 28 | HELP | for work | in Wiltshire | 2,000 | ||||||||||||
| 29 | CLICSargent | for work | in Wiltshire | 2,000 | ||||||||||||
| 30 | Enham Trust | for work | in Hampshire | 2,000 | ||||||||||||
| 31 | Hope for Tomorrow | for work | in Wiltshire | 2,000 | ||||||||||||
| 32 | Design Ability Charity | Ltd | General | donation | 2,000 | |||||||||||
| 33 | Wiltshire Music Centre |
for work | in Wilts hire | 2,000 | ||||||||||||
| 34 | Second Chance | for work | in Wiltshire | and | Hampshire | 2,000 | ||||||||||
| 35 | Brain Wave | for work | in Wiltshire | and | Hampshire | 2,000 | ||||||||||
| 36 | React | for work | in Wiltshire | and | Hampshire | 2,000 | ||||||||||
| 37 | Poppy Factory | General | donation | 2,000 | ||||||||||||
| 38 | New Life | for work | in Wiltshire | 2,000 | ||||||||||||
| 39 | Greatwood | for mental health wellbeing |
programm | es | 2,000 | |||||||||||
| 40 | Sixty One | Prisoners | and exprisoners | 2,000 | ||||||||||||
| 41 | RABI (Roya I Agricultura |
I | Benevolent Assn. ) | Genera I |
donation | 2,000 | ||||||||||
| 42 | Homestart S.Wiltshire |
for work | in Wiltshire | 2,000 | ||||||||||||
| 43 | Wiltshire Bobbyyan |
Trust | for work | in Wilts hire | 2,000 | |||||||||||
| 44 | Countess Brecknock |
CharitableTrust | Genera I |
donation | 2,000 | |||||||||||
| 45 | Spinal injuries Association | General | donation | 2,000 | ||||||||||||
| 46 | Brendon Care |
General | donation | 2,000 | ||||||||||||
| 47 | YCDT(Young Carers | Development | Trust) | General | donation | 2,000 | ||||||||||
| 48 | Lullaby Trust | General | donation | 1,285 | ||||||||||||
| Tota I gra nts over E1,000 | 127,364 | |||||||||||||||
| Total of 73other grants | up | to E1,000 | 66,100 | |||||||||||||
| Total of 121grants | in | year | 193,464 | |||||||||||||
| Prior yea rgrant adjustments | (8,621) | |||||||||||||||
| 184,843 |
| ANALYSIS OF CHAR Grants by value |
ITABLE ACTIVITI | ES - contin | ued | ued | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| No of | Total | No of | Total | |||
| Grants | Value | Grants | Value | |||
| E | E | |||||
| E1-f249 | 1 | 200 | 2 | 200 | ||
| E250 - E499 | 1 | 400 | ||||
| f500 —E999 | 11 | 5,500 | 11 | 5,800 | ||
| E1,000 - E2,499 | 90 | 119,364 | 78 | 106,905 | ||
| E2,500 - E4,999 | 12 | 38,000 | 9 | 28,100 | ||
| E5,000+ | 6 | 30,000 | 4 | 20,000 | ||
| 121 | 193,464 | 104 | 161,095 | |||
| Grants by category | ||||||
| All grants are made | to institutions | |||||
| 2023 | 2022 | |||||
| Number | E | Number | ||||
| Projects outside of | the UK | 1 | 500 | 3 | 2,500 | |
| Projects in Wiltshire | 5 neighbouring | areas | 83 | 139,179 | 88 | 142,174 |
| Projects elsewhere | in the UK | 37 | 53,785 | 13 | 16,421 | |
| 121 | 193,464 | 104 | 161,095 |
| Support costs | Support costs | and how these were allocated | between | Governance | and Charitable | Activities are shown | below: |
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Charitable | Charitable | ||||||
| UNRESTRICTED INCOME FUND | Governance Activities |
Governance Activities |
|||||
| f | E | ||||||
| Independent | Examiner's fees | 1,422 | 1,230 | ||||
| Independent | Examiner's fees p/y adjustment | 192 | |||||
| Accountancy | and taxation services | 5,312 | 4,607 | ||||
| Postage stamps | 66 | ||||||
| Information | Commissioner | 35 | 35 | ||||
| Unrecoverable | debtor | 35 | |||||
| 6,961 | 5,973 |
| FIXEDASSET INV | ESTMENTS | |||
|---|---|---|---|---|
| Total | Total | |||
| 2023 | 2022 | |||
| E | E | |||
| Market value at 5 April 2022 | 10,959,335 | 10,107,990 | ||
| Disposal proceeds | (1,607,820) | (2,008,980) | ||
| Acquisitions at cost |
1,746,869 | 1,912,607 | ||
| Net gains/(losses) | on revaluation | and disposal | (600,226) | 947,718 |
| Market value at 5 April 2023 | 10,498,158 | 10,959,335 | ||
| Cash held within | the investment | portfolio | 117,116 | 271,850 |
| 10,615,274 | 11,231,185 | |||
| Historical cost as | at 5 April 2023 | 5,629,681 | 5,081,105 | |
| Split: | ||||
| Listed investment | assets in the UK | 8,924,607 | 9,14e,e58 | |
| Listed investment | assets outside | the UK | 987,102 | 1,372,884 |
| Funds of unlisted | investments | 586,449 | 439,793 | |
| 10,498,158 |
| Name | Holding | Market Value | ||||
|---|---|---|---|---|---|---|
| f | ||||||
| Diageo —Ordinary 28 | 101/108p shares | 37,283 | 1,367,913 | |||
| Bryth ICVC | Fund | 3,572,500 | 4,186,970 | |||
| MLG Global | Class PP | 649,997 | 819,451 | |||
| CASH AT BANK | ||||||
| 2023 | 2022 | |||||
| E | E | |||||
| Stockbrokers | income | account | (495) | (840) | ||
| Bank account | 3,806 | 3,341 | ||||
| 3,311 | 2,501 | |||||
| LIABILITIES | - amounts | falling due within one year | ||||
| 2023 | 2022 | |||||
| E | ||||||
| Independent | Examiner's | fees | 1,422 | 1,230 | ||
| Accounting | and taxation | services | 1,889 | 1,306 | ||
| Investment | management | charges | 7,206 | 5,958 | ||
| 10,517 | 8,494 |
| Expendable | Income | Total | |||||
|---|---|---|---|---|---|---|---|
| 2023 | Endowment | Fund | 2023 | ||||
| Unrestricted | funds | comprise | the | following: | E | E | E |
| Investments | 10,498,158 | 10,498,158 | |||||
| Cash | 117,116 | 3,311 | 120,427 | ||||
| Creditors | (7,206) | (3,311) | (10,517) | ||||
| 10,608,068 | 10,608,068 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Net movement in |
funds (as per | the Statement | of Financial Activities) | (617,124) | 916,387 | |||
| (Gains) on investments shown |
in investing | activities | 600,226 | (947,718) | ||||
| (Gains)/losses on exchange rate |
(17,617) | (8,176) | ||||||
| Deduct investment | income shown in investing |
activities | (186,637) | (154,722) | ||||
| Deduct gift ofshares/voluntary | contribution | shown | in financing | activities | ||||
| (Decrease)/increase | in creditors | 2,023 | (620) | |||||
| Decrease/(increase) | in debtors | 35 | ||||||
| Net cash provided | by (used in) | operating | activities | (219,129) | (194,814) |
| Fund | Fund | |||||
|---|---|---|---|---|---|---|
| balances | balances | |||||
| brought | Gains and | carried | ||||
| Fund Name | forward | Income | Expenditure | Transfers | losses | forward |
| Expendable | ||||||
| endowment | 11,225,192 | (29,348) | (5,167) | (582,609) | 10,608,068 | |
| Income | 186,637 | (191,804) | 5,167 | |||
| Total Funds | 11,225,192 | 186,637 | (221,152) | (582,609) | 10,608,068 |