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||Page|
|---|---|
|Legalandadministrativedetails|1|
|Trustees'annualreport|2—4|
|StatementofTrustees'responsibilities|5|
|Independentexaminer'sreport|6|
|Statementoffinancialactivities|7|
|Statementoffinancialposition|8|
|Notes|9-15|





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## Kerry Gallagher 

04/09/25 



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|||Unrestricted|Endowment|Yearto|Yearto|
|---|---|---|---|---|---|
||Note|Funds|Funds|31December|31December|
|||2024|2024|2024|2023|
|||£|£|£|£|
|Income||||||
|Investmentincome|2|31,031||31,031|29,408|
|Interestreceived||10,877||10,877|7,348|
|Totalincome||41,908||41,908|36,756|
|Expenditure||||||
|Costofraisingfunds||||||
|Investmentmanagementcosts|4|8,785|8,102|16,887|16,206|
|ExpenditureonCharitableactivities|3,5|118,036||118,036|119,700|
|Totalexpenditure||126,821|8,102|134,923|135,906|
|Netexpenditureandnetmovementsin||||||
|fundsbefore||||||
|(losses)oninvestments||(84,913)|(8,102)|(93,015)|(99,150)|
|Netgainoninvestmentassets|6|109,793|44,544|154,337|146,006|
|Netmovementinfunds||24,880|36,442|61,322|46,856|
|Reconciliationoffunds||||||
|Fundbalancesbroughtforward1January||1,317,877|941,365|2,259,242|2,212,386|
|Fundbalancescarriedforward31||||||
|December||1,342,757|977,807|2,320,564|2,259,242|





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|nvestmentincome|||||
|---|---|---|---|---|
||Unrestricted|Endowment|Total|Total|
||Funds|Funds|2024|2023|
||£|£|£|£|
|Listedinvestmentincome-dividends|31,031||31,031|29,408|



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|haritableexpenditure||||||
|---|---|---|---|---|---|
|||Unrestricted|Endowment|Total|Total|
||Note|Funds|Funds|2024|2023|
|||£|£|£|£|
|Directexpenditure:||||||
|Paymentstoformeremployees||20,092||20,092|23,604|
|Paymentstowidowsof||||||
|formeremployees||7,073||7,073|8,072|
|NautilusWelfaredonation||25,572||25,572|23,283|
|||52,737|-|52,737|54,959|
|Supportcosts|5|60,349||60,349|59,931|
|Governancecosts|5|4,950||4,950|4,810|
|||118,036||118,036|119,700|





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|||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|
|||Funds|Funds|funds|funds|
|||||2024|2023|
|||£|£|£|£|
|ManagementCosts|2024|8,785|8,102|16,887||
|ManagementCosts|2023|8,411|7,795||16,206|



||Charitable||Total|Total|
|---|---|---|---|---|
||activities|Governance|2024|2023|
||£|£|£|£|
|Salariesandpension|47,208||47,208|45,837|
|Independentexamination|-|4,950|4,950|4,810|
|Legalandprofessionalfees|107||107|35|
|Trusteesliabilityinsurance|2,463||2,463|3,033|
|Postage,stationery,telephone,travel,|||||
|computerandrent|10,502|-|10,502|10,979|
|Bankcharges|69||69|47|
||60,349|4,950|65,299|64,741|



|<br>theirservices.|||
|---|---|---|
|Staffcosts|2024|2023|
||£|£|
|WagesandSalaries|33,927|33,287|
|EmployersSocialSecurityCosts|3,427|3,338|
|OtherPensionCosts|5,912|5,912|
|HealthInsurance|3,942|3,300|
||47,208|45,837|





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||IndependentExaminersremuneration|||||
|---|---|---|---|---|---|
||||2024||2023|
||IndependentExaminersservices||4,950||4,810|
||||4,950||4,810|
|6|Netgainsoninvestmentassets|||||
|||Unrestricted|Endowment|Total|Total|
|||Funds|Funds|funds|funds|
|||||2024|2023|
|||£|£|£|£|
||Netrealised/unrealisedgains2024|109,793|44,544|154,337||
||Netrealised/unrealisedgains2023|106,309|39,687||146,006|
|7|Investments|||||
|||||2024|2023|
|||||`£`|`£`|
||Quotedinvestments|||||
||Openingmarketvalueat1January|||2,186,441|2,111,821|
||Additionsatcost|||186,607|435,087|
||Disposalproceeds|||(285,305)|(506,473)|
||Netrealised/unrealisedgains/(losses)|||154,337|146,006|
||Marketvalueat31December|||2,242,080|2,186,441|
||Historiccost|||1,798,782|1,930,722|
||QuotedInvestmentsatmarketvaluecomprised:|||||
|||||2024|2023|
|||||`£`|`£`|
||UKFixedInterestSecurities|||108,378|157,075|
||UKEquities|||687,021|724,177|
||OverseasEquities|||869,000|791,138|
||OverseasFixedInterest|||244,253|190,470|
||Commodities|||100,293|87,662|
||HedgeFunds|||233,135|235,919|
|||||2,242,080|2,186,441|





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|8|Debtors|||
|---|---|---|---|
|||2024|2023|
|||`£`|`£`|
||Otherdebtors|2,810|2,415|
|||2,810|2,415|
|9|Creditors:amountsfallingduewithinoneyear|||
|||2024|2023|
|||`£`|`£`|
||Othertaxandsocialsecurity|1,475|1,457|
||Othercreditors|16,422|10,506|
|||17,897|11,963|



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|||Movement|inresources:|||
|---|---|---|---|---|---|
||Balanceat||||Balanceat|
||1January||||31December|
||2024|Incoming|Expenditure|Gain|2024|
|Permanentendowment||||||
|CapitalFund|941,365||(8,102)|44,544|977,807|
|UnrestrictedFund|1,317,877|41,908|(126,821)|109,793|1,342,757|
||2,259,242|41,908|(134,923)|154,337|2,320,564|





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|||Movement|inresources:|||
|---|---|---|---|---|---|
||Balanceat||||Balanceat|
||1January||||31December|
||2023|Incoming|Expenditure|Gain|2023|
|||£|£|£||
|Permanentendowment||||||
|CapitalFund|842,851||(7,795)|106,309|941,365|
|UnrestrictedFund|1,369,535|36,756|(128,111)|39,697|1,317,877|
||2,212,386|36,756|(135,906)|146,006|2,259,242|



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|||Net|||
|---|---|---|---|---|
|||Current|Total|Total|
||Investments|Assets|2024|2023|
||£|£|£|£|
|EndowmentFunds|1,067,294|(89,487)|977,807|941,365|
|UnrestrictedFunds|1,174,786|167,971|1,342,757|1,317,877|
||2,242,080|78,484|2,320,564|2,259,242|
|||Net|||
|||Current|Total|Total|
||Investments|Assets|2023|2022|
||£|£|£|£|
|EndowmentFunds|1,093,765|(152,400)|941,365|842,851|
|UnrestrictedFunds|1,092,676|225,201|1,317,877|1,369,535|
||2,186,441|72,801|2,259,242|2,212,386|



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