2023-04-05-accounts

			Page
Report ofthe Trustees		1	to	4
Statement ofTrustees'	Responsibilities
Report ofthe Independent Auditors		6	to	9
Statement ofFinancial	Activities		10
Balance Sheet
Cash Flow Statement			12
Notes to the Cash Flow Statement			13
Notes to the Financial Statements		14	to	20

						Period
						6.4.22
						to	Year Ended
						319.23	5.4.22
						Unrestricted	Total
						fond	funds
					Notes	g
INCOME	AND ENDOWMENTS FROM
Investment	income					382,873	418,060
EXPENDITURE			ON
Raising funds						78,600	83,106
Charitable	activities
Donations						444,000	460,250
Total						522,600	543,356
Net gains/(losses)		on investments				(666,830)	805,744
NET INCOME/(EXPENDITURE)						(806,557)	680,448
RECONCILIATION				OF FUNDS
Total funds	brought		forward			14,045,063	13,364,615
TOTAL FUNDS CARRIED FORWARD						13438,506	14,045,063

		31.323	5.4.22
		Unrestricted	Total
		fund	funds
	Notes
FIXEDASSETS
Investments		13,126,983	13,976,182
CURRENT ASSETS
Cash at beak		135~7	94,079
CREDITORS
Amounts falling due within one year		(24,044)	(25,198)
NET CURRENT ASSETS		111423	68,881
TOTAL ASSETSLESSCURRENT
LIABILITIES		13/38/06	14,045,063
NKT ASSETS		13438,506	14,045,063
FUNDS
Unrestricted funds		13438,506	14,045,063
TOTAL FUNDS		13438,506	14,045,063

					Period
					6.4.22
					to	Year Ended
					31.3.23	5.4.22
				Notes
Cash flows from	operating		activities
Cash generated from operations					(140,881)	(122,894)
Net cash used in	operating	activities			(140,881)	(122,894)
Cash flows from	investing		activities
Purchase offixed	asset investments				(3,020,197)	(4,665,556)
Sale offixed asset investments					3/02466	4,827,536
Net cash provided	by investing			activities	182469	161,980
Change in cash and cash		equivalents
in the reporting	period				41,488	39,086
Cash and cash equivalents			at	the
beginning ofthe	reporting		period		94,079	54,993
Cash and cash equivalents			at	the end
ofthe reporting	period				135467	94,079

						Period
						6.4.22
						to	Year Ended
						313.23	5.4.22
	Net (expenditure)/income			for the reporting	period (as per the
	Statement ofFinancial Activities)					(806,557)	680,448
	Adjustments	for:
	Losses/(gain)	on investments				666,830	(805,744)
	(Decrease)/increase		in creditors			(1,154)	2,402
	Net cash used in operations					(140,881)	(122,894)
2.	ANALYSIS	OF CHANGES IN NET FUNDS
					At 6.4.22	Cash flow	At312.23
	Net cash
	Cash at bank				94,079	41,488	135,567
					94,079	41,488	135,567
	Total				94&079	41,488	135,567

			31.3.23	5.4.22
Income from investments:
-Client money interest (gross)			532
-Currency client money interest (gross)			226
—UK unit trust, investment	bust and	OEIC interest	37,196	41,322
-Other UK interest			1,014
-UK dividends			137/53	161,254
—UK unit trust, investment	trust and	OEIC dividends	100@79	110,191
-Properly income distributions			11/07	10,753
-Income from non-UK investments		—interest		7,413
-Income from non-UK investments		—dividends	94,000	86,900
-UK fixed interest income			677	124
-Accrued income			89	103
			382,873	418,060

RAISING	FUNDS
Investment	management	costs

			Period
			6.4.22
			to	Year Ended
			319.23	5.4.22
Costs ofgenerating	investment	income	71,868	77,282
Support costs			6,732	5,824
			78,600	83,106
GRANTS PAYABLK
			Period
			6.4.22
			to	Year Ended
			319.23	5.4.22
Donations			444&000	460,250
Grants payable to	institutions	during the year were as follows:
			31.3.23	5.4.22
			I	g
			298400	379,250

	Grants payable to individuals	Grants payable to individuals	during the year were as follows:
				31.3.23	5.4.22
				145+00	81,000
5.	SUPPORT COSTS
				31.3.23	5.4.22
	Auditors' Remuneration			3/00	2,814
	Accountancy	and legal fees		3414	2,954
	Bank charges			218	56
				6,732	5,824

FIXEDASSETINVESTMKNTS	FIXEDASSETINVESTMKNTS
~TVALUE fie		Listed investments
At 6April 2022		13/76,182
Additions		3,020,197
Disposals		(3402,566)
Net gains/(losses)	on investments	(666,830)
At 31March 2023		13,126,983
NKT BOOK VALUE
At 31March 2023		13,126J83
At 5 April 2022		13,976,182

	Historical Cost:
	At 31March 2023	11,763,133
	At 5 April 2022	11,654478
	Investments at fair value		319.23	5.4.22
	Comprised:
	Equities		9,804,673	10,454,407
	Fixed interest securities		3,169,667	3,408,188
	Cash held within the investment	portfolio	152,643	113,587
			13,126,983	13,976,182
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.3.23	5.4.22
	Accrued expenses		24&044	25,198
9.	MOVEMENT IN FUNDS
			Net
			movement	At
		At 6.4.22	in funds	31.3.23
	Unrestricted funds
	General fund	14)045,063	(806,5571	13/38)506
	TOTAL FUNDS	14,045,063	(806,5571	13438,506

			incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
Unrestricted	funds
General fund			382,873	(522,600)	(666,830)	(806,557)
TOTAL FUNDS			382,873	(522,600)	(666,830)	(806457)
Comparatives	for movement	in funds
					Net
					movement	At
				At 6.4.21	in funds	5.4.22
				f,
Unrestricted	funds
General fund				13,364,615	680,448	14,045,063
TOTALFUNDS				13,364,615	680,448	14,045,063

		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds
General fund		418,060	(543,356)	805,744	680,448
TOTAL FUNDS		418,060	(543,356)	805,744	680,448