2022-04-05-accounts

			Page
Reference and administrative		details ofthe charity, its Trustees and advisers
Trustees' report			2-7
Independent auditors'	report		8- 10
Statement offinancial	activities
Balance sheet			12
Statement ofcash flows			13
Notes to the financial	statements		14-21

Trustees		C.E.S.Whitbread
		P.D. Patten
		H.F. Whitbread
		M. Stern
		j.Polhill
Charity registered
number		210089
Address		6 Trull Farm Buildings
		Tetbury
		Gloucestershire
		GL8 8SQ
Administrator		The Trust Partnership		(Foundations)			Limited
Independent	auditors	Dunkley's
		Woodland Grange
		Woodlands Lane
		Bradley Stoke
		Bristol BS324jY
Bankers		CAF Bank Ltd
		25 Kings Hill Avenue
		Kings Hill
		West Mailing
		Kent
		ME194jQ
Solicitors		Veale Wasbrough	Vizards		LLP
		24 King William Street
		London
		EC4R 9AT
Investment	advisers	Cazenove Capital	Management			(Finished		November		2021)
		12 Moorgate
		London
		EC2R 1AD
		Sarasin K Partners	LLP (From November					2021)
		juxon House
		100St. Paul's Churchyard
		London EC4M 8BU
		Waverton Investment		Management			Limited		(From November		2021)
		16Babmaes Street
		London
		SW1Y 6AH
		Whitley Asset Management			(From		November		2021)
		Calder S.Co., StVincent House
		30 Orange Street
		London WC2H 7HF

				Capital	Income	Total	Total
			Note	funds	funds	funds	funds
Income and endowments		from:		2022	2022	2022	2021
				E	E	E
Investments					508 179	508,179	693,815
Other income
Total income and endowments					508,179	508,179	693,815
Expenditure on:
Raising funds				169,327		169,327	104,078
Charitable activities					766,840	766,840	1,074,248
Total expenditure			4	169,327	766,840	936,167	1,178,326
Net (expenditure)	before	investment
losses)/ gains				(169,327)	(258,661)	(427,988)	(484,511)
Net (losses)/gains	on investments		12	(71,564)	-	(71,564)	6,276,973
Net (expenditure)/income		before
transfers				(240,891)	(258,661)	(499,552)	5,792,462
Transfers between	Funds		15	(734,657)	734,657
Net (expenditure)/income		before other
recognised gains and losses				(975,548)	475,996	(499,552)	5,792,462
Net movement in funds				(975,548)	475,996	(499,552)	5,792,462
Reconciliation of	funds:
Total funds brought	forward			33,280,968	(247,096)	33,033,872	27,241,410
Total funds carried forward				32,305,420	228,90	32,534,320	33,033,872

ASAT5APRI	L	2022
					2022		2021
			Note
Fixed assets
Investments			12		32,359,645		33,308,023
Current assets
Cash at bank and	in	hand		406,945		71,715
Creditors: amounts		falling due within one
year			13	(172,270)		(205,866)
Net current assets/(liabilities)					234,675		(134,151)
Total assets less	assets/(liabilities)				32,594,320		33,173,872
Creditors: amounts		falling due after more
than one year			14		(60,000)		(140,000)
Net assets					32,534,320		33,033,872
Charity Funds
Unrestricted Capital		funds	15		32,305,420		33,280,968
Unrestricted Income		funds	15		228,900		(247,096)
Total funds					32,534,320		33,033,872

				2022	2021
			Note
Cash flows from operating activities
Net cash	used in operating activities		17	(1,049,763)	(1,048,021)
Cash flows from investing activities:
Dividends	and interest from investments			508,179	693,815
Proceeds	from sale of investments			33,663,551	19,303,266
Purchase	of investments			(32,786,737)	(19,037,360)
Net cash provided by investing activities				1,384,993	959,721
Change	in cash and cash equivalents	in the year		335,230	(88,300)
Cash and	cash equivalents brought forward			71,715	160,015
Cash and cash equivalents carried forward			18	406,945	71,715
All	funds are unrestricted.

Investment	income
		Capital	Income	Total	Income
		funds	funds	funds	Funds
		2022	2022	2022	2021
		E	E	E	E
Income from	listed investments		508,179	508,179	693,815
			508,179	508,179	693,815
Total 2021			693,815	693,815

Capital	Income	Total	Total
funds	funds	funds	funds
2022	2022	2022	2021
E	E	E	E

Other	incoming	resources
Total	2021

								Other costs	Total	Total
								2022	2022	2021
								E	E	E
	Expenditure	on investment		management		(note 5)		169,327	169,327	104,078
	Costs of raising funds							169,327	169,327	104,078
	Grants payable (note		7)					726,911	726,911	1,035,745
	Support costs (note 6)							30,681	30,681	29,417
	Charitable	activities						757,592	757,592	1,065,162
	Expenditure	on governance			(note 8)			9,248	9,248	9,086
								936,167	936,167	1,178,326
	Total 2021							1,178,326	1,178,326
5.	Investment	management			costs
							Capital	Income	Total	Total
							funds	funds	funds	funds
							2022	2022	2022	2021
							E	E	E	E
	Investment	manager	fees					169,327	169,327	104,078
								169,327	169,327	104,078
	Total 2021							104,078	104,078

6.	Support Co	sts
				2022	2021
					E
	Administration	and professional	fees	30,571	29,334
	Bank charges			110	83
				30,681	29,417
7.	Grants payable
				2022	2021
				E	E
	Medicine and	health		103,409	120,653
	Social welfare			340,225	474,367
	Education			24,400	51,225
	Training and	employment		16,041	12,000
	The arts			50,315	45,000
	Environment	and conservation		135,000	152,000
	International				150,000
	Sports and leisure			57,521	30,500
				726,911	1,035,745

			Income	Income
			funds	Funds
			2022	2021
Auditors'	remuneration		2,160	2,160
Year end	accountancy	costs	3,600	3,600
Legal and	professional		3,488	3,326
			9,248	9,086
All funds	are unrestricted.

	At 5 April 2022 the Trust had outstanding	pledges of E48,000(2021 - f109,000).
	Reconciliation ofgrants payable:
		2022	2021
	Accrued at 6 April 2021	307,000	180,000
	Grants payable for the year (note 7)	726,911	1,035,745
	Grants paid during the year	(868,911)	(908,745)
	Accrued at 5 April 2022	165,000	307,000
	Grant commitments (continued)
	Payable as follows:
		2022	2021
	Grants payable &1yr (note 13)	105,000	167,000
	Grants payable &lyr (note 14)	60,000	140,000
	Total	165,000	307,000
10.	Net income/(expenditure)
	This is stated after charging:
		2022	2021
	Auditors' remuneration - audit	2,160	2,160

12.	Fixed as	set investm	ents
						Cash
					Listed	awaiting
					securities	investment	Total
						E	E
	Market	value
	At 6 April	2021			32,880,616	427,407	33,308,023
	Additions				33,663,551		33,663,551
	Disposals				(35,248,513)		(35,248,513)
	Revaluations				(71,564)		(71,564)
	Increase	in cash awaiting		investment		708,148	708,148
	At 5 April	2022			31,224,090	1,135,555	32,359,645
13.	Creditors: Amounts		falling due within one year
						2022	2021
	Trade creditors					7,289	6,051
	Accruals					59,981	32,815
	Grants accrued - (see		Note 9)			105,000	167,000
						172,270	205,866
14.	Creditors: Amounts		falling due after more than		one year
						2022	2021
	Grants accrued - (see		Note 9)			60,000	140,000
	All funds	are unrestricted.

	Balance at					Balance at
	6April			Transfers		5 April
	2021	Income	Expenditure	in/out	Losses	2022
Income funds	( 247,096)	508,179	(766,840)	734,657		228,900
Capital funds	33,280,968		(169,327)	(734,657)	(71,564)	32,305,420
Total offunds	33,033,872	508,179	(936,167)		(71,564)	32,534,320

Statement offunds	- prior year
	Balance at					Balance at
	6April			Transfers		5 April
	2020	Income	Expenditure	in/out	Gains	2021
Income funds	( 28,159)	693,815	(1,074,248)	161,496		(247,096)
Capital funds	27,269,569		(104,078)	(161,496)	6,276,973	33,280,968
Total offunds	27,241,410	693,815	(1,178,326)		6,276,973	33,033,872

Analysis ofnet assets between funds - current year
	Capital	Income	Total
	funds	funds	funds
	2022	2022	2022
Fixed asset investments	32,359,645		32,659,645
Current assets		406,945	406,945
Creditors due within one year	(54,225)	(118,045)	(172,270)
Creditors due in more than one year		(60,000)	(60,000)
	32,305,420	228,900	32,534,320
Analysis ofnet assets between funds - prior year
	Capital	Income	Total
	funds	funds	funds
	2021	2021	2021
Fixed asset investments	33,308,023		33,308,023
Current assets		71,715	71,715
Creditors due within one year	(27,055)	(178,811)	(205,866)
Creditors due in more than one year		(140,000)	(140,000)
	33,280,968	(247,096)	33,033,872

17.	Reconciliatio	n ofnet	move	ment in funds to net cash flow from o	perating activities
					2022	2021
	Net (expenditure)/income		for	the year (as per Statement of Financial
	Activities)				(499,552)	5,792,462
	Adjustment	for:
	Losses/(Gains)	from investments			71,564	(6,276,973)
	Dividends and	interest from investments			(508,179)	(693,815)
	(Decrease)/Increase in		creditors		(113,596)	130,304
	Net cash used in operating			activities	(1,049,763)	(1,048,021)
18.	Analysis ofcash and		cash	equivalents
					2022	2021
	Cash in hand				406,945	71,715
					406,945	71,715