THE CHARENTE GROUP BENEVOLENT FUND
FINANCIAL STATEMENTS
31 DECEMBER 2022
Registered Charity No: 207151

THE CHARENTE GROUP BENEVOLENT FUND
FINANCIAL STATEMENTS
for the year ended 31 Deeember 2022
Contents
Page
Legal and administrative details
Trnstees, annual report
Statement of Trustees, responsibilities
Independent examiner's report
Stalemcnt of f￿anCIal activities
Siatemcnt of financial position
Notcs
9-15

THE CHARENTE GROUP BENEVOLENT FUND
LEGAL AND ADMINISTRATIVE DETAILS
TRUSTEES. ANNUAL REPORT
Registered Charlty Number:
207151
Legal stAtus
The Benevolent Fund was established by
a trust decd dated 2 July 1951
Trustees".
R A PilkingÉon
DCDaly
Sir T H M S Pilkington
Chief Executive Officer:
D J Hoare
Address:
32 Judges Drive
Live￿001
L6 7UB
Independent Examiner:
RSM UK Tax alld Accounting Limited
Chartered Accountants
14, Floor
20 Chapcl Sircet
Live￿001
L3 9AG
Investment Advisors:
Evelyn
Royal Liv¢r Building
Pier Head
Liverpool
L3 INY
Bankers:
Naliollal Wcstininster Bank plc
2- 8 Church Street
Liverpool
LI 3BG

THE CHARENTE GROUP BENEVOLENT FUND
TRUSTEES, ANNUAL REPORT
31 DECEMBER 2022
The Trustees present thcir report and th¢ auditcd accounts for the year ended 31 D¢¢¢mb¢r 2022.
Structurc, governance Ind management
The Charity is an unincorporated charity, constituted under a trust deed amended 4 September 2019 and is a
registered charity, number 207151. The principal place of business is 32 Judges Drive, Liverpool, L6 7UB.
The charity was established as the Harrison Line Benevolent Fund to apply the income of the Fund to make
payments to necessitous and deserving pcrsons who are, or have b¢cn, ill thc cmployment of The Charente
Steam-ship Company Limite￿ Thos & Jas Harrison Limited or of thc fornier firni of Thos & Jas Harrison, or to
the dependants of such persons.
On 2 O¢tober 2001 a Cknty Commission Scheme was sealed and approved and the objects of the charity have
been cxtended io inelude making payments to those descrving pcrsons or dependants employed by or pr¢viously
employcd by any company in tlic Charente Group or residing in Specific areas ifL whicli the Group had o￿l¢eS.
The name of the Fund was also changed to The Charente Group Benevolent Fund on the same date.
Trustees ar¢ appointed by th¢ members of the Charity at its knmual General Meeting. Vacancies occurring
between such mcctings may be filled by a resolution of the Board of Trustees. A person appointed in this way.
who wishes to continue as a Iruslcc, must offer himtherself for re-appointnent at the llext Annual General
Meeling. The minitnum number of trustees is 3. AJI trustees are skilled to catry out their responsibilities
however if any further Irdining is identified it will be provided.
Objects of the charity
The objects of Ihe charity are to make paymenls lo necessilous and deserving persons employed by or
previously employed by any company in the Charente Group or residing in specific areas in which the Group
had O￿lCeS.
Rigk management
The Trust¢C5 conlinue to assess th¢ major risks to which the fijnd may be exposed relative to strategic,
operational, regularity and financial matters. Together with its inveslment advisors the Trnstees ensur¢ that tlic
investment strategy has a heavy bias towards liquidity and a high operating cash surplus is maintained at all
limes. Additional procedures have been establishe¢ as required. to address the risks faced by the Charity.
Investments policy and performance
The Trnstees have unrestricted invcslment powers. The portfolio És regularly review¢d by the Trustees in
conjunction with independent investment advisors, Evelyn. It is th¢ policy of the Trustees to follow the
recommendation of the investment advisors and lo maintain a balanced portfolio, having a regard to income and
future anticipated cxpcnditure. The investJDclll performance is measured against relevant indexes published by
the ARC Sierlillg Balanced Asset PCI Indcx. During the year lo 31 December 2022 the Fund's portfolio value
on a total relum basis fell by l 0.9 % (2021: rose by 12.3D/u) whereas the ARC Balancd indcx fell by 9.1 ? %
(2021.. rose by 7.6/0), and the ARC Growth index fell by l 0.20/0 (2021.. rose by 10.20/0). This was largely an
impact from Ihe economic climale with inflation already gtarting to increase before the war in Ukraine further
exaccrbated it.
Trustees
The Trustccs of the Fund during the year were as shown on page l.

THE CHARENTE GROUP BENEVOLENT FUND
TRUSTEES, ANNUAL REPORT
31 DECEMBER 2022
(CONTINUED)
Key management personnel remunerydtion
The trnstee8 consider Ilie board of trustees and the Chief Executive Officer as comprising the key management
personnel of the ¢harity in chargc of directing and controlling the charity and rnnning and operating the charity
on a day Éo day basis. In addition the Chief Executive liaises with all of the beneficiaries and offers personal and
practical support throughout the year. Ail trustees give of their time freely and no tnlstee remuneration was paid
in thc year.
The lotal remuneration of the single employee is revicwcd on a yearly basis by the trustees using their
expcricnce as employers of people working within similar industries and 8imÉlar roles.
Trnstees arc rcquired to disclose all relevant int¢rests and r¢gister them with the Chief Executive and in
accordance with the Trust's tK)liey withdraw from dccisions wherc a conflict of interest arises. No relevant
issues have been registered.
Flnancial rcvicw
Th¢ accounts are set out on pages 7 to 15.
The net movement in funds for the year is a defjcit of £373,415 {2021: sU￿lUS of £180,171). This is due to..
a net realise(Vunrealised (loss)/gaill on investrnents of £{290,622) (2021.. gain £252,469)
charitable payments exceeding incoming resources by £82,793 (2021: £72.798)
Total Capital Investments at th¢ year end of £2,111,821 (202I.. £2,338,078)
Endowment Fulld £842,851 {2021- £988,996)
UnrestTicied Fund £1.369,535 {2021.. £1,596,805)
Total Funds £2,212.386 {2021= £2,585,801)
Achievements ind performanee
The Trustccs arc satisfied that, whilst continuing to makc charitablc payments in cxccss of invrstEn¢nt incoinc.
the underlying value of the fund remained strong and thc ¢u￿Cnt valuc of th¢ funds are sufficient for the current
level of eligible payments. Wliile there has bccn a gcncral dcclinc in equity valucs around thc world this
portfolio has outperfomied the market averages. These are reviewed regularly by the Trustees aiid their
investment advisors.
During the year tELe Trustees made payments of £23,554 (2021-. £20,371) to eligible fonner employees and
£10,737 (2021.. £9,519) to fonner employees, widows. The Trnstees reviewed the amount of individual
payments and madc illcrcaKs where required. Tlie Truste¢s looked at new applications, advised accordingly and
ensured that all eligiblc cmployees and their widows knew of the existence of the fund.
Durillg the year the Trustees made don&tioDs of £3,300 {2021..£9,090) to Nautilus UK Welfare Fund 8 Charity
that exists purely to provide support to retired and current seafarers and is based Bt Mariners Park il) the Wirral.
Thc Trustees have nlet with the tuanagcmcnt of Mariners Park and are satisfied that the donation will go entirely
lo lielping both ex-employees of the group (and their joint venture partThers) and other seafarers ITh the Live￿001
area.
Trustee Training And Recruitment policy
Training support and dcvclopment of trustees, particularly the induction of newly appointed trnstees, is
undertaken wher¢ it is relevant ¢￿d could increase their effective contribution to the Fund's management.
The Trnstees regularly review the proc£durcs for idcnlifying any ongoing Irdining needs.

THE CHARENTE GROUP BENEVOLENT FUND
TRUSTEES, ANNUAL REPORT
31 DECEMBER 2022
(CONTINUED)
As the main purpoK of the charity is to support the retired employees and their dependants of the Charente
Group, the Trusl¢es are appointed with a bias towards actual knowledge olthc Gioup itself. its history and onc
of whom who lives or works in the Liv¢TpooI area.
Future plans
The Trnstees proposc to inaintaill ¢harilablc pa￿llent$ lo qualifying individuals in accordance with the ternis of
the Trnst Deed and monitor likely payments against ￿tUre reservas.
The Tru5tccs havc d¢cid¢d aficr much consideralion that they will make payments that in somc years are in
excess of the fiLnd's income. There is a declining age profile and number of retitEd Charente Group employees
and their dependants and the Trustees are aware that this element of the payment structure will decline in the
future, changing, and r¢du¢ing the long tem) Capital requirements of the charity.
Reserves policy
The Trustees. plan is to maintain an adequate level of unre8tricl¢d reserves to sustain charitable payments ov¢r a
long period. having a Tegard to any uncertainty in the investment market. Given the age profile of the current
and future rccipients of the fund the Trustees currently look al maintain reserves for al least 12.5 ycars. Given
the current perfomiance this looks easily obtainable. Free reserves currcntly stand al £2.212,386, which
represents an estimated fifieen years of future payments
Publlc Benefit
The TDJs(ees consid¢r all ils ¢haritable a¢tivities to be for the benetit of th¢ public in line with Charity
Commission guidance on public benefit.
Sign¢d on behalf of the Trustees
Trustee
18 October 2023

THE CHARENTE GROUP BENEVOLENT FUND
STATEMENT OF TRUSTEES, RESPONSIBILITIES
31 DECEMBER 2022
Trustees, responsibilities in relation to the financial statements
The trustees are responsible for prq)aring the Trustees, Report aiid Ihc Fit]ancial stat￿n¢￿¢S iii accordanrc witli
applicable law and Unitd Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practicc).
The law applicable to charities in England and Wales requires the trustee8 to prepare fEnancial statements for
each financial year which give a tne and fair view of thc statc of affairs of the clwity and of the incoming
resour¢es and application of resour¢¢s of the charity for that period. In preparing these financial statements, the
trustees 8re required to:
select suitable accountillg polici¢s and then apply them consistenÉly-
' observ¢ the methods and prillcipl¢s in the Charities SORP"
make judgements and estimatcs that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial statements and,.
' prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charity will continue in opcrdtion.
The trustees ar¢ responsible for kecping proper aecounting records tbat di￿105¢ With rcasonablc accuracy at any
time the fmancial position of Ihe charity and enable them to ensure that the fjnancial statements comply with the
Charities Act 2011, the Charity (Accounts and Rq)orts) Regulations and the provisions of the trust deed. They
are also responsible for safeguarding the assets of thc charity and hence tor taking reasonable steps for Ihe
prevention aDd detection of fraud and other i￿gularitIeS.

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE CHARENTE GROUP BENEVOLENT FUND
I report to the trustees on my examination of the fLllallcial Stat¢[U￿tS of Thc Charente Group Benevolent Fund
('the charity,) for the year ended 31 De¢¢mber 2022, which are set out on pages 7 10 15.
Responsibilitics And basis of report
As thc Irustccs of the Charity you are responsible for the preparation of tlie accounts in accordance with the
requirements of the Charities Act 2011 ('Ih¢ 2011 Act')-
I re￿rt in respcct of my examination of the charity's accounts carried out under section 145 of the 201 l Act and
in canying out my examination I have followed all th6 applicable Directions given by the Charity Commission
under section 145 {5)(b) of the 201 l Act.
An indq)cndcTht examination does not involve gathering all the evidencc tbat would be rcquired in an audit and
consequently does not Cover all the matters that an auditor considers in giving their opinion on th¢ accounts. The
planningF and conduct of an audit goes beyond thc li]nited assurancc tIMt an independellt examination can
provide. Consequently, I express no opinion as to whether the accounts present a 'truc and fair view, and my
report is limited to those spccifLC matters set out in the independent examiner's stalement.
Independent examiDer's statemellt
I have completed my examination. I confinn that iio material matters have come lo my attention in Connection
with the exaTnination giving me reasonable cause to bclieve that in any material respect:
accounting records were not kept in respect of the charity as required by section 130 of tlLe 2011 Act. or
2. the accounts do not a¢cord wiib those records. or
3. the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremcnt
that the accounts give a 'true and fair vi¢w' which is not a mattcr considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the exa￿inatIon to which attention
should be drawn in this rcport in order to enable a proper understanding of the accounts to be reached.
Signed-
Jgkll GHefj
Name: John Guest
Name of applicable listed body= The Institute of Chartered Accountants IJJ EDgl2nd and Wales
Relevant professional qualification or m¢mb¢rship of professiollal body: Chartered Accountant
On behalf of RSM UK Tax and Accounting Limited
Cl￿rtered Accountants
14th Floor
20 Chapel Strcet
Livc￿00l
L3 9AG
20110123

THE CHARENTE GROUP BENEVOLENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestricted
Funds
2022
Endowment
Funds
2022
Yeydr to
Year to
31 December 31 December
2022
2021
Note
Income
Investment income
Other incomc
33,085
2,055
33,085
2,055
46,970
(2,121)
Total income
35,140
35,140
44,849
Expellditure
Cost ofroisingfunds
tnvesttncnt mallagcmcnt Costs
8,673
8.045
l6,718
18,266
Expenditure on Charitable activities
101.215
101,215
98,881
Total expenditure
109,888
8,045
117,933
117,147
Net expenditure and net movements in
funds before
gains and {lo$ses) on investments
(74,748)
(8,045)
(82,793}
(72.298)
Net (loss)/gain on inv¢5tmcnl asscts
(152,522)
(138,100)
(290,622)
252,469
Net movement in funds
(227.270)
(146,145)
(373,415)
180.171
RecollciliY4tion of funds
Fund balanccs brought forward l January
1,596,805
988,996
2,585,801
2.405,630
Fund bAIAnces e#rried forward 31
December
1,369,535
842,851
2,212,386
2,585,801
I the reslllts shown relate wholly to continuing activities.

THE CHAREIYTE GROUP BENEVOLENT FUND
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
2022
2021
Note
FKxed assets
Investments
2,111.821
2.338,078
Current assets
Debtors
Cash at bank and in hand
2,287
109,480
2,125
255,402
111,767
257,527
Creditors: amounts falling
due wiiliin one year
(11,202)
(9.804)
Net eurrent assets
100,565
247,723
Total a55ets less current liabilitie5 and
net assets
2,212,386
2,585,801
Fullds of the charity
Unrestricted
Endowment
io
io
1,369,535
842,851
1,596,805
988,996
Total charity funds
2,212.386
2,585,801
Ap
ved alld
orised for issue by the Trustees on 18 October 2023 and signed on Ilicir behalf by..
R A Pilki
Trusl¢e
The notes on pages 9 to 15 forni part of these accounts.

THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOUNTS
YEAR EIWED 31 DECEMBER 2022
Accounting policies
Basis of accounting
The financial statements have been prepared in a¢cordance with applicable accounting standards ullder
the histori¢al convention witb ass¢ls and liabilities initially re¢ogttised at historical cost except for
certain investments which ale held at market valuation, as staled in the relevant lloles to these accounts.
TILe f￿ancial statements are prepared in stcrling> which is thc fun¢tion21 currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.
The Fitvdncial statements have been prepared in accordance with the recommendations of the Statement
of Recommended Practice 'Accounting and Reporting by Charities,, preparing their accounts in
a¢cordan¢¢ with the Fillancial Rcporting Standard applicabl¢ in the UK and Republic of IrelaDd
(FRS102) (effcctivc l October 2019), (Charilies SORP (FRS102)) and thc Charities Act 2011. The
principle accounling policies adopted in the preparation of the accountlllg policies are set out below.
The Charity has taken advatttage of the provisions in thc SORP for Charitics applying FRS102 Update
Bulletin I not to prepare a Sialement of Cash Flows.
The financial statements have been prepared lo give a 'true and fair, view and havc departed from the
Charitics (Accounts and Reports) Regulations 2008 only lo the extent required to provide a 'true and
fair view,.
Thc trust constitutes a public benefit entity as defined by FRS 102. The Charity is an unincorporated
charity, constituted und¢r a trust deed datcd 2 July 1951 and is a rcgistered clmrity. number 207151.
Going Concern
The trustees havc a reasonable expectation that thc charity has adequate resources to continue in
operational existence for the foreseeable future and thus the trustees have concluded that it is
appropriate lo prepare the account5 on a going concern basis. The Trustees can if necessary reduce the
amount of charitable expenditure if long terni reserves diminish.
The trustees con5idcrcd thc implications of Covid 19 upon both their investment and the potcntial
hardship It may cause to ils ¢uyrent and ￿tUre beneficiaries. Jn respect OF th¢ investtnents thc trustees
decided to kccp one years expenditure in cash so as lo lake pressurc off the perforniance of ils
investments. In tenlls of beneflciaries the Chief Executiv¢ Officer has been in regular contact with them
to check on their well-beiiig and has taken a proactive stance in looking for any potential benefLciaiies
that may be suffering from the pandcmic or the wkder lock down process.
IDcome recognition
All income is recognised once the charity has entitlement to thc income, it is probable that the income
will be received and the amount of income can be measured rcliable.
Investment and interest inco￿¢ is accounted for in tbe accounlingy period in which it is receivablc. The
Capital Fund represents the assets with which the Fund was endowed, and is included within
Endowment Funds.
Expenses recognition
Liabilities are recognised as reSoU￿eS expended as s(x)n as there is a legal or constructive obligation
committing the Charity to the expenditure. Expenditure is accounted for on an ac¢ruals basis. All
expenses including support costs and governance costs arc allocated or apportioned to the applicable
expenditure headings.

io
THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOULYrs
YEAR ENDED 31 DECEMBER 2022
(CONTIF4UED)
Governance cosls
Governance costs comprise all costs involving the public accountability of the Chartty and its
¢omplianc¢ with regulation and good practice.
ReAlise(UUnrealised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales proceeds and their opening carryÈng
valuc or thcir purcbasc value if acquired subsequent lo thc first day of thc financial year. Unr¢alis¢d
gains and1085es arc calculated as the difference bciween thc fair value At the year end and their caryillg
value. Realised and unrealised investmenl gains and losses are combined in the Statement of Financi81
Athivities
Irre¢overable VAT
Irrecoverable VAT is charged against the category of resources expended for which it is incutred.
Fixed asset investment5
Thc Benevolcnt Fund's investment5 are divided between Capital and Income Funds. The Capital Fund
represents the assets with which the Fund was endowed, and is included within Endowment Fund5. The
Income Fund represents the excess of income over expenditure since the Fund's incq)tion.
Surpluses or dtficits arising on the disposal of investments are dealt with in the Fund to which the
investment5 concerncd bclong.
Fixed asset investments are stated at market value. Quoted investments are valued at mid market price
on thc balaEkCC Sheet date.
Quoted investments arc listed on a r¢cogFLiscd stock CKchangc.
Funds structure
The Charity has a single pernjanent endowment fund.
Unrestrict¢d incom¢ funds comprise thos¢ fi￿d5 which thc trustces are free to use for any purpose
fiwtherance of the charitable activities.
Toxation
The charity is exempt from tax on incomc and gains falling within Part I l of the Corpordtion Taxes Act
2010 or s¢¢tion 256 of the I'axation of Clmritablc Gains Act 1992 to the cxtent that these are applied to
ils charilable objects.
Debtor5
Other debtors are rccognised al the settlcment amount duc. Prepaytnents are valued at the amount
prepaid net of any discounts due.
Cash and cash equivalents
Casli and cash equivalenls include cash in hand, deposits held at call with banks, and other short-temi
liquid investments with original maturities of tbree mOTLths or less.

li
THE CHARENTE GROUP BENEVOLENT FUIYD
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
(CO]NTINUED)
Financial instrnments
The trust only has financial assets and finan¢ial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruinents are initially recogniscd at Éransaction value and subsequently
measured at their settlement value.
Critical A¢wunting E5timYdtes and Areas of Judgemellt
There are no significant estirnalcs and judgcmcThts affecting the financial staiemenls.
Investment income
Unrestrlcted Endowment
ri unds
Fund5
Total
2021
2022
Listed investment income - dividends
33,085
33.085
46,970
In 2021, all £46,970 investment income was attributable to unrestrieted funds.
Charitable expenditure
Unrestricted Endoivment
Funds
Fullds
Total
2022
Total
2021
Note
Direct expenditure..
Payments to fonner employees
Paymcnts lo widows of
fortner eTnployees
Nautilu5 Wclfare donation
23,554
23,554
20,371
10,737
3,300
10.737
3,300
9,519
9,090
37.591
37.591
38.980
Support costs
Govemance costs
59,244
4,380
59,244
4,380
55,521
4,380
101,215
101,215
98,881
AII 2021 expenditure was from Unrestricted Funds.

12
THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
(CONTINUED)
Investment Management Costs
Unrestricted Elldowmellt
Funds
Funds
TotAI
funds
2022
Total
funds
2021
Management Costs 2022
8,673
8,045
16.718
Management Costs 2021
9.864
8,402
18,266
Allocation of support & governance costs
Charitable
actI￿tieS
Total
2022
Total
2021
GoverDallce
Salaries and pension
Independent examillation
Lcgal and professional f¢¢s
Trustees liability insurance
Postage, stationery, teleplione, travel,
computer and rent
Bank charges
45,729
45,729
4.380
35
3.044
44,095
4,380
35
2,426
4,380
35
3,044
10,340
96
10,340
96
8,874
91
59,244
4,380
63.624
59,901
Trustees have claimed £nil (2021=£nil) for attending meetings and received no other remuneration for
their services.
Stsff costs
2022
2021
Wages and Salaries
Employer5 Social Security Costs
Oth¢r Pension Costs
Health Insurance
33,287
3,516
5,912
3.014
31,959
3,192
5,912
3,032
45.729
44,095
Key management personnel comprise the trustees and the chief executive. Key Manage￿¢1)t personal
remuneration including employers National Insurance Contributions amount to £45,729
(2021.. £44,095).
There was I member of staff employed during th¢ year (2021.1). No employees receivcd ctuployee
bencfits of more than £60,000.

13
THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
(CONTINUED)
Allocation of support & governance costs (continued)
Independent Examiners remunerdtion
2022
2021
Independent Examiners services
4,380
4.380
4,380
4,380
Net (Ios5es)Igain$ on investment assets
Unrc5tricted EDdowment
Fund5
Funds
Total
fullds
2022
Total
nds
2021
Net realise(Vunrealised (losses) 2022
(152,522)
(138,100)
{290,622)
Net realise(Vunrealised gains 2021
123,519
128,950
252,469
Investments
2022
2021
Quoted investmellts
Opcning markct value at l January
Additions at cost
Disposal proceeds
Net realisedlunrealised {losses)Igains
2,338,078
2,200.742
957,480
948,266
(893,115) (1,063,399)
(290,622)
252,469
Market value at 31 December
2.111,821
2,338,078
Historic cost
2,007,454
1,939,695
Quoted Investments at market value comprised..
2022
2021
UK Fixed Interest Securities
UK Equities
Overseas Equities
Overseas Fixed Interest
Commodities
Hedge Funds
Property
Other
75,174
682,751
801,485
132,220
81,726
156,497
15,917
166.051
126,809
739,244
954.161
90,613
58,726
60,302
112,444
195,779
2,111,821
2,338,078

14
THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
(CONTINUED)
Irjvestments (continued)
All itkveslmenls are primarily held to provide investment return. A]1 investmellls are Carried al their
fair value. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction
value). Unrestricted funds comprise those funds which tlLe tnLsÉecs arc f￿¢ to use in accordance with
the charilable objects.
The Trustees conduct a thorough risk analysis in ¢onjunction with their investtllenl managers Evelyn at
each of their Trustees meetings. Credit, liquidity and market risks are discussed and the Trustees ensure
that there is appropriate cash holding oEbetween 9 and 12 months cash hcld in major clearing banks in
order to ensure that all payments in the short term can be made. Crcdit risks are analysed along with
markct risks and thc fund invcsts a vcry high proportion of its assets in high liquidity FTSE 100 stocks
or their international equivalents. Only a minimal proportion is invested funds that do not havc
immcdiate distribution upon sale and the Trustees illtend to both analysis and pllrsue this low risk
stratcgy.
Debtors
2022
2021
Other debtors
2,287
2,125
2,287
2,125
Creditors: amounts falling due within one year
2022
2021
Other tax and social security
Other creditors
1,434
9,768
1,056
8.748
11,202
9,804
io
Anydlysis of charitablc funds
Movetllent in resources:
Balance Ydt
l January
2022
Balance at
31 Deeembei
2022
Incoming
Expenditure
(Loss)
Permanent cndowment
Capital Fund
988,996
(8,045)
(138,1(K))
842.851
Unrestricted Fund
1,596,805
35.140
(109,888)
(152,522)
1,369,535
2,585,801
35,140
(117.933)
(290,622)
2,212,386

15
THE CHARENTE GROUP BENEVOLENT FUND
NOTES TO THE ACCOUNTS
YEAR ENDED 31 DECEMBER 2022
(CONTINUED)
Movemellt ij) resources:
Balance it
l January
Balallce at
31 Decembei
2021
2021
Incoming
Expenditure
Gain
Pertllanellt endowment
Capital Fund
868,448
(8,402)
128,950
988,996
Unrestricted Fund
1,537,182
44,849
(108,745)
123,519
1.596,805
2,405,630
44,849
{117,147)
252,469
2,585.801
li
An&lysls of net assets between funds
Net
Current
As5et5
Total
2022
Total
2021
Investmellt5
Endowment Funds
Unrestricted Funds
1.020,110
1,091,711
(177,259)
277,824
842,851
1,369,535
988,996
1,596,805
2.111,821
100,565
2.212,386
2,585,801
Net
Current
Assets
Total
2021
Total
2020
Investments
Endowmenl Fullds
Unrestricted Funds
1.108,946
1.229,132
(119,950)
367,673
988,996
1,596,805
868,448
1.537,182
2,338,078
247,723
2,585,801
2,405,630
Purpose of funds
The charity lias a single permanenl endowinent fund. Unr¢slrictcd funds comprise thosc fund5 which
the tnjstees are free to use in a￿ordance with the charitable objects.
12
Related Party Transactions
The charity has had no related party trallS4i¢tions for the year ended 31 December 2022 {2021= £nil).