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||||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 tothe 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|||||
|||Gloucesters hire|||||
|||GL8 8SQ|||||
|Administrator||The Trust Partnership||(Foundations)||Limited|
|Independent|auditors|Dunkley's|||||
|||Woodland
Grange|||||
|||Woodlands
Lane|||||
|||Bradley Stoke|||||
|||Bristol BS324jY|||||
|Bankers||CAF Sank 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|Sarasin 5Partners|LLP||||
|||juxon House|||||
|||100St. Paul's Churchyard|||||
|||London
EC4M 8SU|||||
|||Waverton
Investment||Management||Limited|
|||16Babmaes Street|||||
|||London|||||
|||SW1Y 6AH|||||
|||Whitley Asset Management
Calder 5Co., St Vincent House|||||
|||30 Orange Street|||||
|||London WC2H 7HF|||||
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|||||Capital|Income|Total|Total|
|---|---|---|---|---|---|---|---|
||||Note|funds|funds|funds|funds|
|Income and endowments||from:||2023|2023|2023|2022|
||||||||E|
|Investments|||||540,450|540,450|508,179|
|Other income|||||2,334|2,334||
|Total income and endowments|||||542,784|542,784|508,179|
|Expenditure
on:||||||||
|Raising funds||||215,801||215,801|169,327|
|Charitable
activities|||||949,479|949,479|766,840|
|Total expenditure||||215,801|949,479|1,165,280|936,167|
|Net (expenditure)|before|investment||||||
|losses)/ gains||||(215,801)|(406,695)|(622,496)|(427,988)|
|Net (losses)/gains|on investments||12|(1,869,054)|-|(1,869,054)|(71,564)|
|Net (expenditure)/income||before||||||
|transfers||||(2,084,855)|(406,695)|(2,491,550)|(499,552)|
|Transfers
between|Funds||15|(234,985)|234,985|||
|Net (expenditure)/income||before other||||||
|recognised gains and losses||||(2,319,840)|(171,710)|(2,491,550)|(499,552)|
|Net movement
in funds||||(2,319,840)|(171,710)|(2,491,550)|(499,552)|
|Reconciliation of|funds:|||||||
|Total funds brought|forward|||32,305,420|228,900|32,534,320|33,033,872|
|Total funds carried forward||||29,985,580|57,190|30,042,770|32,534,320|
##
|ASAT5APRI|L|2023||||||
|---|---|---|---|---|---|---|---|
||||||2023||2022|
||||Note||E||E|
|Fixed assets||||||||
|Investments|||12||29,972,088||32,359,645|
|Current assets||||||||
|Cash at bank and|in|hand||290,034||406,945||
|Creditors: amounts||falling due within one||||||
|year|||13|(139,352)||(172,270)||
|Net current assets/(liabilities)|||||150,682||234,675|
|Total assets less|assets/(liabilities)||||30,122,770||32,594,320|
|Creditors: amounts||falling due after more||||||
|than one year|||14||(80,000)||(60,000)|
|Net assets|||||30,042,770||32,534,320|
|Charity Funds||||||||
|Unrestricted
Capital||funds|15||29,985,580||32,305,420|
|Unrestricted
Income||funds|15||57,190||228,900|
|Total funds|||||30,042,770||32,534,320|
##
##
|||||2023|2022|
|---|---|---|---|---|---|
||||Note|E|E|
|Cash flows from operating
activities||||||
|Net cash used
in operating
activities|||17|(1,175,864)|(1,049,763)|
|Cash flows from investing
activities:||||||
|Dividends
and interest from investments||||540,450|508,179|
|Proceeds from sale of investments||||8,310,129|33,663,551|
|Purchase of investments||||(7,791,626)|(32,786,737)|
|Net cash provided
by investing|activities|||1,058,953|1,384,993|
|Change in cash and cash equivalents||in the year||(116,911)|335,230|
|Cash and cash equivalents
brought|forward|||406,945|71,715|
|Cash and cash equivalents
carried forward|||18|290,034|406,945|
|All funds are unrestricted.||||||
|The notes on pages 14to 21 form|part of|these financial|statements.|||
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|Investment
income|||||
|---|---|---|---|---|
||Capital|Income|Total|Income|
||funds|funds|funds|Funds|
||2023|2023|2023|2022|
|||||E|
|Income from listed investments||540,450|540,450|508,179|
|||540,450|540,450|508,179|
|Total 2022||508,179|508,179||
|3.|Other incoming resources|Other incoming resources|Other incoming resources|Other incoming resources|Other incoming resources||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Capital|Income|Total|Total|
||||||||||funds|funds|funds|funds|
||||||||||2023|2023|2023|2022|
||Other incoming||resources|||||||2,334|2,334||
||Total 2022||||||||||||
|4.|Analysis ofExpenditure||||by expenditure|||type|||||
|||||||||||Othercosts|Total|Total|
|||||||||||2023|2023|2022|
||Expenditure|on investment|||management||(note 5)|||215,801|215,801|169,327|
||Costs of raising funds|||||||||215,801|215,801|169,327|
||Grants payable||(note|7)||||||907,461|907,461|726,911|
||Support costs||(note 6)|||||||30,570|30,570|30,681|
||Charitable|activities||||||||938,031|938,031|757,592|
||Expenditure||on governance|||(note 8)||||11,448|11,448|9,248|
|||||||||||949,479|949,479|936,]67|
||Total 2022||||||||||||
|||||||||||936,167|936,167||
|5.|Investment|management||||costs|||||||
||||||||||Capital|Income|Total|Total|
||||||||||funds|funds|funds|funds|
||||||||||2023|2023|2023|2022|
||Investment|manager||fees||||||215,801|215,801|169,327|
|||||||||||215,801|215,801|169,327|
||Total 2022|||||||||169,327|169,327||
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||E|E|
||Administration||and professional||fees|30,498|30,571|
||Bank charges|||||72|110|
|||||||30,570|30,681|
|7.|Grants|payable||||||
|||||||2023|2022|
||||||||E|
||Medicine|and|health|||111,574|103,409|
||Social welfare|||||350,022|340,225|
||Education|||||110,500|24,400|
||Training|and|employment|||7,000|16,041|
||The Arts|||||54,365|50,315|
||Environment||and conservation|||258,000|135,000|
||Sports and leisure|||||16,000|57 521|
|||||||907,461|726,911|
|8.|Governance||costs|||||
|||||||Income|Income|
|||||||funds|Funds|
|||||||2023||
|||||||E||
||Auditors'|remuneration||||2,160|2,160|
||Year end|accountancy||costs||3,600|3,600|
||Legal and|professional||||5,688|3,488|
|||||||11,448|9,248|
||All funds|are|unrestricted.|||||
##
||Reconciliation ofgrants payable:|||
|---|---|---|---|
|||2023|2022|
|||E|E|
||Accrued at 6 April 2022|165,000|307,000|
||Grants payable for the year (note 7)|907,461|726,911|
||Grants paid during the year|(912,461)|(868,911)|
||Accrued at 5 April 2023|160,000|165,000|
||Grant commitments
(continued)|||
||Payable as follows:|||
|||2023|2022|
|||E|E|
||Grants payable
&lyr (note 13)|80,000|105,000|
||Grants payable
&lyr (note 14)|80,000|60,000|
||Total|160,000|165,000|
|10.|Net income/(expenditure)|||
||This is stated after charging:|||
|||2023|2022|
|||E|E|
||Auditors'
remuneration
- audit|2,160|2,160|
##
##
|Fixed as|set investments|||||
|---|---|---|---|---|---|
|||||Cash||
||||Listed|awaiting||
||||securities|investment|Total|
|Market|value|||||
|At 6 April|2022||31,224,090|1,135,555|32,359,645|
|Additions|||7,791,626||7,791,626|
|Disposals|||(8,030,592)||(8,030,592)|
|Revaluations|||(1,869,054)||(1,869,054)|
|Increase|in cash awaiting|investment||(279,537)|(279,537)|
|At 5 April|2023||29,116,070|856,018|29,972,088|
##
|Creditors: Amounts|falling due within one year|||
|---|---|---|---|
|||2023|2022|
|||E|E|
|Trade creditors||2,411|7,289|
|Accruals||56,941|59,981|
|Grants accrued - (see|Note 9)|80,000|105,000|
|||139,352|172,270|
|Creditors: Amounts|falling due af'ter more than one year|||
|||2023|2022|
|||E|E|
|Grants accrued - (see|Note 9)|80,000|60,000|
##
##
||Balance at|||||Balance at|
|---|---|---|---|---|---|---|
||6 April|||Transfers||5 April|
||2022|Income|Expenditure|in/out|Losses|2023|
||E|E|E|E|E|E|
|Income funds|228,900|542,784|(949,479)|234,985||57,190|
|Capital funds|32,305,420||(215,801)|(234,985)|(1,869,054)|29,985,580|
|Total offunds|32,534,320|542,784|(1,165,280)||(1,869,054)|30,042,770|
##
|Statement offunds|- prior year||||||
|---|---|---|---|---|---|---|
||Balance at|||||Balance at|
||6April|||Transfers||5April|
||2022|Income|Expenditure|in/out|Losses|2023|
||E|E|E|E|E|E|
|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|
##
|||||||||Capital|Income|Total|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|funds|
|||||||||2023|2023|2023|
|||||||||E|E|E|
|Fixed|asset investments|||||||29,972,088||29,972,088|
|Current assets|||||||||290,034|290,034|
|Creditors due within|||one|year||||(51,181)|(88,171)|(139,352)|
|Creditors due in||more than one year|||||||(80,000)|(80,000)|
|||||||||29,985,580|57,190|30,042,770|
|Analysis ofnet||assets||between funds - prior year|||||||
|||||||||Capital|Income|Total|
|||||||||funds|funds|funds|
|||||||||2022|2022|2022|
||||||||||E|E|
|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|
|All funds are unrestricted.|||||||||||
|17.|Reconciliation ofnet||||movement||in funds to net cash flow from operating||activities||
||||||||||2023|2022|
||||||||||E|E|
||Net (expenditure)/income||||for|the year (as per Statement of Financial|||||
||Activities)|||||||(2,491,550)||(499,552)|
||Adjustment||for:||||||||
||Losses/(Gains)||from investments|||||1,869,054||71,564|
||Dividends|and|interest from investments|||||(540,450)||(508,179)|
||(Decrease)/Increase
in||||creditors|||(12,918)||(113,596)|
||Net cash|used in operating||||activities||(1,175,864)||(1,049,763)|
|18.|Analysis|ofcash||and|cash|equivalents|||||
||||||||||2023|2022|
||||||||||E|E|
||Cash
in hand||||||||290,034|406,945|
||||||||||290,034|406,945|