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## 

|Trustees||Sir Algernon<br>Heber-Percy|Sir Algernon<br>Heber-Percy|
|---|---|---|---|
|||A H S Hannay||
|||A H M Wilson||
|Administrator||Lynne Loxley||
|Email address||llctadminCBleverhulme.|net|
|Chadity number||212431||
|Pdncipal address||Estate Office||
|||Thornton<br>Hough||
|||Wirral||
|||Merseyside||
|||CH63 1JD||
|Auditor||Mitchell Charlesworth|IAudit) Limited|
|||3rd Floor||
|||5Temple Square||
|||Temple Street||
|||Liverpool||
|||Merseyside||
|||L2 SRH||
|Bankers||Barclays Bank pic||
|||1Churchill<br>Place||
|||London||
|||E14SHP||
|Investment|managers|Schroder lk Co Limited||
|||1London Wall Place||
|||London||
|||EC2Y SAU||





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||||Page|
|---|---|---|---|
|Trustees' report||||
|Independent|auditor's|report|7-11|
|Statement of|financial|activities|12|
|Balance sheet|||13|
|Statement of|cash flows||14|
|Notes tothe financial||statements|15 - 23|





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|Equities|||74.1|
|---|---|---|---|
|Bonds|||7.6|
|Multi-Asset|funds||0.0|
|Hedge funds|||1.2|
|Private equity funds|||0.0|
|Property|||0.9|
|Commodities|||4.0|
|Structured|products||2.8|
|Insurance|and 'Alternatives'|funds|3.7|
|Cash|||5.2|
||||100.0|





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|Equities|||71.1|
|---|---|---|---|
|Bonds|||8.8|
|Multi-Asset|funds||0.0|
|Hedgefunds|||1.3|
|Pffivate equity funds|||0.0|
|Property|||1.1|
|Commodities|||4.6|
|Structured|products||3.3|
|Insurance|and 'Alternatives'|funds|4.3|
|Cash|||5.1|
||||100.0|






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|||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
|||||2022|2022|2022|2021|2021|2021|
||||Notes|f|E|f|6|6|E|
|Income from:||||||||||
|Investments|||2|861,364||861,364|587,106||587,106|
|Ch||||||||||
|Raising funds|||3|44,560|89,119|133,679|43,903|S7,S06|131,709|
|Charitable<br>activities|||4|360,428||360,428|305,339||305,339|
|Total expenditure||||404,988|89,119|494,107|349,242|S7,806|437,048|
|Net gains/(losses)||on||||||||
|investments|||||936,558|936,558||8,042,753|8,042,753|
|Net movement|in funds|||456,376|847,439|1,303,815|237,864|7,954,947|8,192,811|
|Fund balances|at|6 April|2021|(843,581)|42,274,834|41,431,253|(1,081,445)|34,319,887|33,238,442|
|Fund balances|at|5April|2022|(387,205)|43,122,273|42,735,068|(843,581)|42,274,834|41,431,253|





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|||||||||2022||2021||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes||E||E||
|Fixed assets||||||||||||
|Investments|||||||10||42,987,828||42,358,511|
|Current assets||||||||||||
|Debtors|||||||12|65,818||8,319||
|Cash at bank||and in|hand|||||246,338||92,527||
|||||||||312,156||100,846||
|Creditors: amounts|||falling due within one|||||||||
|year|||||||13|(340,291)||(375,604)||
|Net current|liabilities||||||||(28,135)||(274,758)|
|Total assets|less current|||liabilities|||||42,959,693||42,083,753|
|Creditors: amounts|||falling due after more|||||||||
|than one year|||||||14||(224,625)||(652,500)|
|Net assets|||||||||42,735,068||41,431,253|
|Capital funds||||||||||||
|Expendable|endowment|||fund|||16||43,122,273||42,274,834|
|Income funds||||||||||||
|Unrestricted||funds||||||||||
|Designated|funds|||||||350,334||525,010||
|General unrestricted|||funds|||||(737,539)||(1,368,591)||
||||||||||(387,205)||(843,581)|
||||||||||42,735,068||41,431,253|
|The financial||statements||were approved|by|the Tr|e P28,|ber 2022||||
|SIYAigernon||Hg(rer-Percy||||A H|5 Hannay||A H|M Wilson||
|Trustee||||||Trustee|||Trustee|||





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||||2022||2021||
|---|---|---|---|---|---|---|
|||Notes|6||6||
|Cash flows from operating<br>activities|||||||
|Cash absorbed by operations||22||(957,295)||(839,788)|
|Investing activities|||||||
|Purchase ofinvestments|||(3,331,443)||(22,482,149)||
|Proceeds from disposal of investments|||3,638,684||22,663,470||
|Investment<br>income received|||803,865||605,462||
|Net cash generated<br>from investing|activities|||1,111,106||786,783|
|Net cash used in financing<br>activities|||||||
|Net Increase/(decrease)<br>in cash and cash equivalents||||153,811||(53,005)|
|Cash and cash equivalents<br>at beginning||ofyear||92,527||145,532|
|Cash and cash equivalents<br>at end ofyear||||246,338||92,527|





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|||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2022|2021|
|||||||f|f|
|Income from listed investments||||||858,438|585,845|
|Interest receivable||||||2,926|1,261|
|||||||861,364|587,106|
|Raising funds||||||||
|||Unrestricted|Expendable|Total|Unrestricted|Expendable|Total|
|||funds|endowment||funds|endowment||
|||2022|2022||2021|2021|2021|
|||f|f||E|E|f|
|Investment|managers fees|44,560|89,119|133,679|43,903|87,806|131,709|
|||44,560|89,119|133,679|43,903|87,806|131,709|





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|4|Charitable<br>activities||||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||6|6|
||Grants payable (see note 5)||||341,049|287,412|
||Share ofsupport costs (see note 6)||||11,507|11,507|
||Share ofgovernance|costs (see note 6)|||7,872|6,420|
||||||360,428|305,339|
|5|Grants payable||||||
||||||2022|Number of|
||||||6|Grants|
||Grants paid of620,000or more during the|||year:|||
||Bolton School||||30,000||
||Chester Cathedral||||237,875||
||Lady Lever Art Gallery||||25,000||
||University ofLiverpool||||100,000||
||Liverpool<br>Heart and Chest Hospital||||20,000||
||Liverpool School ofTropical Medicine||||35,000||
||Princes Youth Trust||||21,400||
||Rose Paterson Trust||||25,000||
||Royal College ofSurgeons||||100,000||
||Chester &District Federation||ofthe Blind||20,000||
||||||614,275|10|
||||||2022|2021|
||Grants to institutions|may be categorised||as follows:|6|E|
||Health||||119,500|102,750|
||Community||||120,225|96,300|
||Education||||23,324|38,362|
||Arts||||27,000|29,000|
||Animal welfare||||17,000|10,000|
||Environmental||||3,000||
||Religious establishments||||31,000|11,000|
||||||341,049|287,412|





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|Support c|osts||||||||
|---|---|---|---|---|---|---|---|---|
||||Support costs|Governance|2022 Support costs||Governance|2021|
|||||costs|||costs||
||||E|E|||||
|Office management||fees|11,507||11,507|11,507||11,507|
|Audit fees||||5,650|5,650||4,460|4,460|
|Accountancy||||2,222|2,222||1,960|1,960|
||||11,507|7,872|19,379|11,507|6,420|17,927|
|Analysed|between||||||||
|Charitable|activities||11,507|7,872|19,379|11,507|6,420|17,927|



## 

||||Expendable|Expendable|
|---|---|---|---|---|
||||endowment|endowment|
||||2022|2021|
||||E|f|
|Revaluation|of|investments|837,841|4,667,635|
|Gain/(loss)|on|sale of investments|98,717|3,375,118|
||||936,558|8,042,753|



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|||||tistedCash|in portfolio|Total|
|---|---|---|---|---|---|---|
|||||investments|||
|||||6|||
|Cost or valuation|||||||
|At 6 April|2021|||40,651,075|1,707,436|42,358,511|
|Additions||||3,342,316||3,342,316|
|Valuation|changes|||826,968||826,968|
|Movement||in cash|||550,810|550,810|
|Disposals||||(4,090,777)||(4,090,777)|
|At 5Apdl|2022|||40,729,582|2,258,246|42,987,828|
|Carrying amount|||||||
|At 05 April||2022||40,729,582|2,258,246|42,987,828|
|At 05 April||2021||40,651,075|1,707,436|42,358,511|
||||||2022|2021|
||||||6|6|
|Investments||at fair value|comprise:||||
|UK equities,||unit trusts and treasury stock|||19,417,815|19,725,358|
|Overseas equities and unit trusts|||||21,3'11,767|20,925,717|
|Cash held|by investment||managers||2,258,246|1,707,436|
||||||42,987,828|42,358,511|



|11|Financial|instruments||2022|2021|
|---|---|---|---|---|---|
|||||6|6|
||Carrying|amount offinancial assets||||
||Instruments<br>measured at fair value through||profit or loss|40,729,582|40,651,075|
|12|Debtors|||||
|||||2022|2021|
||Amounts|falling due within one year:||6|6|
||Other debtors|||65,818|8,319|





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|13|Creditors: amounts|Creditors: amounts|falling due within one year|||
|---|---|---|---|---|---|
|||||2022|2021|
|||||6|6|
||Grants payable|||295,324|326,500|
||Accruals and deferred<br>income|||44,967|49,104|
|||||340,291|375,604|
|14|Creditors: amounts||falling due after more than one year|||
|||||2022|2021|
|||||6|6|
||Grants payable|||224,625|652,500|
|15|Reconciliation|ofgrant commitments||||
|||||2022|2021|
|||||6|6|
||Commitments|at 6April 2021||(979,000)|(1,379,500)|
||Grants paid out during the year|||812,992|687,912|
|||||(166,008)|(691,588)|
||Commitments|at 5 April 2022||519,949|979,000|
||Charge in Statement||ofFinancial Activities (note 4)|353,941|287,412|





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|Balance at|Resources|Revaluations|Balance at|Resources|Revaluations|Balance at|
|---|---|---|---|---|---|---|
|6April 2020|expended|gains and losses|6Apra 2021|expended<br>gains and losses||5Aprg 2022|
|6|6|E|f|6|f|f|
|34,319,888|(86,955)|8,042,753|42,274,834|(89,119)|936,558|43,122,273|
|34,319,888|(86,955)|8,042,753|42,274,834|(89,119)|936,558|43,122,273|



## 

||||||||Movement|in funds||
|---|---|---|---|---|---|---|---|---|---|
|||||Balance at|Transfers|Balance at|Inmming|Transfers|Balance at|
||||6|Aprg 2020||6Apra 2021|resources||5April 2022|
|||||6||6|||6|
|Special|reserve|fund||346,015|178,995|525,010|324|(175,000)|350,334|
|||||346,015|178,995|525,010|324|(175,000)|350,334|





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|Analysis ofnet assets betw|een<br>funds||||||
|---|---|---|---|---|---|---|
||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total|
||funds|funds||funds|funds||
||2022|2022|2022|2021|2021|2021|
||E|E|F.|E|E|E|
|Fund balances at 5 April|||||||
|2022 are represented|||||||
|by:|||||||
|Investments||42,987,828|42,987,828|83,677|42,274,834|42,358,511|
|Current assets/(liabilities)|(162,580)|134,445|(28,135)|(274,758)||(274,758)|
|Long term liabilities|(224,625)||(224,625)|(652,500)||(652,500)|
||(387,205)|43,122,273|42,735,068|(843,581)|42,274,834|41,431,253|



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|22|Cash generated<br>from operations|Cash generated<br>from operations|Cash generated<br>from operations||2022|2021|
|---|---|---|---|---|---|---|
||||||f|E|
||Surplus for|the year|||1,303,815|8,192,811|
||Adjustments|for:|||||
||Investment|income recognised|in statement|offinancial activities|(861,364)|(587,106)|
||Gain on disposal of investments||||(98,717)|(3,375,118)|
||Fair value gains and losses on investments||||(837,841)|(4,667,635)|
||Movements|in working capital:|||||
||(Decrease)|in creditors|||(463,188)|(402,740)|
||Cash absorbed by operations||||(957,295)|(839,788)|
|23|Analysis of|changes in net funds|||||
||The charity|had no debt during|the year.||||