||||Page|
|---|---|---|---|
|Reference and Administrative||Details||
|Report ofthe Trustees|||2 to 3|
|Independent<br>Auditor's|Report||4 to 6|
|Statement ofFinancial|Activities|||
|Balance Sheet||||
|Cash Flo&v Statemeut||||
|Notes to the Financial|Statements||10to 21|
|Detailed Statement<br>of|Financial|Activities|22 to 23|





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||||Notes|Consolidated|Consolidated|Charity|||
|---|---|---|---|---|---|---|---|---|
|||||2022|2021|2022|2021||
|||||Unrestricted|Unrestricted|Unrestricted|Unrestricted||
|||||fund|fund as restated|fund|fund|as restated|
|||||||f.|||
|INCOME|AND ENDOWMENTS||FROM||||||
|Donations|and legacies||3|2,955,185||2,874,085|||
|Investinent|income|||708,414|587,692|137,684||110,012|
|Total||||3,663,599|587,692|3,011,769||110,012|
|EXPENDITURE ON|||||||||
|Charitable|activities||||||||
|Resources|expended|||(440,064)|(423,533)|(156,749)||(86,630)|
|Net gains on investments||||850,965|724,820|850,965||724,820|
|NET INCOME||||4,074,500|888,979|3,705,985||748,202|
|Taxation||||~69,249)|~11,088)||||
|NET INCOMEAFTER TAX||||4,005,251|877,891|3,705,985||74,8202|
|Profit attributable||to:|||||||
|Parent entity||||3,933,427|846,766|3,705,985||748,202|
|Non-controlling<br>interest||||71,824|31,125||||
|||||4,005,251|877,891|3,705,985||748,202|





## 

|||Notes|Consolidated|Consolidated|Charity|Charity|
|---|---|---|---|---|---|---|
||||2022|2021|2022|2021|
||||Unrestricted|Umestricted|Unrestricted|Unrestricted|
||||fund|fund as restated|fund|fund as restated|
|FIXEDASSETS|||||||
|Tangible fixed assets||12|98,544|70,661|||
|Investments||13|6,120,709|3,018,897|11,834,883|8,182,440|
|Investment<br>propeiQ||14|7,082,500|6,557,500|||
|CURRENT ASSETS|||||||
|Debtors||15|13,511|12,546|309||
|Current asset investments||16|462,922|396,502|||
|Cash at bank|||556,111|465,492|171,312|85,803|
||||1,032,544|874,540|171,621|85,803|
|CREDITORS|||||||
|Amounts<br>falling due within one year||17|177,459|352,708|33,627|1,351|
||||855,085|521,832|137,994|84,452|
|TOTAL ASSETSLESSCURRENT|||||||
|LIABILITIES|||14,156,838|10,168,890|11,972,877|8,266,892|
|Provisions||19|395,274|287,195|||
|NET ASSETS|||13,761,564|9,881,695|11,972,877|8,266,892|
|FUNDS|||||||
|Non-controlling|interest||1,788,687|1,614,803|||
|Parent interest|||11,972,877|8,266,892|11,972,877|8,266,892|
|TOTAL FUNDS||20|13,761,564|9,881,695|11,972,877|8,266,892|





## 

|ASH FLOW STATEMENT<br>TH APRIL 2022||||||||
|---|---|---|---|---|---|---|---|
||||||Conslidated|||
|||||Note|2022||2021|
||||||Unrestricted||Unrestricted|
||||||fund|fund|(as restated)|
|CASH FLOWS FROM OPERATING ACTIVITIES||||||||
|Net cash provided by operating|activities|||A|3,126,805||(506,225)|
|CASH FLOWS FROM INVESTING ACTIVITIES||||||||
|Interest received and paid, bank|charges and dividends||received||135,133||102,821|
|Proceeds fiom the sale offixed assets|||||9,500||60,000|
|Purchase offixed assets|||||(61,739)||(64,850)|
|Proceeds fiom sale ofinvestinents|||||296,102||605,627|
|Purchase ofinvestments|||||3,202,597||209,971|
|Net cash used in investing<br>activities|||||303,204||(12,598)|
|CASH FLOWS FROM FINANCING ACTIVITIES||||||||
|Repayments<br>ofborrowing|||||212,585||15,747|
|Net cash used in financing<br>activities|||||(212,585)||(15,747)|
|CHANGE IN CASH AND CASH EQUIVALENTS|||IN THE|||||
|PERIOD|||||90,619||(28,345)|
|CASH AND CASH EQUIVALENTS AT THE||BEGINNING||||||
|OF THK PERIOD|||||465,492||493,837|
|CASH AND CASH EQUIVALENTS AT THK||KND|OFTHE|||||
|PERIOD|||||556,111||465,492|
|NOTE A||||||||
|Net income for the period (as per the statement||offinancial||||||
|activities)|||||4,005,251||877,891|
|Less non-controlling<br>interest adjustments|||||(125,383)||(98,563)|
|Adjustments<br>for:||||||||
|Depreciation<br>charges|||||33,856||24,450|
|Gains on investments|||||(786,737)||(1,084,597)|
|Interest received and payable|||||(135,133)||(102,821)|
|Profit on the sale offixed assets|||||(9,500)||(42)|
|(Increase)<br>/ decrease in debtors|||||(965)||30,267|
|Increase<br>/ (decrease) in creditors|||||145,416||152,810|
|Net cash provided<br>by operating|activities||||3,126,805||506,225|





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## 

|3.|DONATI|ONS<br>AND LEGACIES||||||
|---|---|---|---|---|---|---|---|
||||Consolidated|||Charity||
||||2022|2021|2022|2021||
|||||as restated||as restated||
||Donations|received|2,955,185||2,874,085|||
|4.|INVESTMENT INCOME|||||||
|||||Consolidated||Charity||
||||2022|2021|2022||2021|
|||||as restated||as|restated|
||Deposit account interest||13,579|11,265|13,579||11,162|
||Income Irom listed investments||124,115|98,860|124,105||98,850|
||Amounts|written onto investments|3,887|82,420||||
||Rental income||494,981|391,801||||
||Other income||71,852|3,346||||
||||708,414|587,692|137,684||110,012|



## 

|||||Grant funding|Grant funding|||
|---|---|---|---|---|---|---|---|
|||||activities||Support costs||
|||||(see note|6)|(see note 7)|Totals|
||Consolidated|-other||122,985||317,079|440,064|
||Charity - other|||122,985||33,764|156,749|
|6.|GRANTS PA.YABLE|||||||
|||||||Consolidated|and Charity|
|||||||2022|2021|
||||||||as restated|
||Other||||||65,500|
|7.|SUPPORT|COSTS||||||
|||||||Governance||
||||Management|Finance||costs|Totals|
||||||||f,|
||Consolidated|-Other|307,317|2,562||7,200|317,079|
||Charity - Other||26,475||89|7,200|33,764|





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## 

|||Consolidated|Charity|
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||fund|fund|
|||as restated|as restated|
|INCOME AND ENDOWMENTS FROM||||
|Investment<br>income||587,692|110,102|
|EXPENDITURE ON||||
|Charitable<br>activities||||
|Resources expended||(423,533)|(86,630)|
|Net gains on investments||724,820|724,820|
|NKT INCOME||888,979|748,202|
|Taxation||11,088||
|NKT INCOME AFTER TAX||877,891|748,202|
|Less parent interest in subsidiary|profits|98,563||
|Consolidated<br>profit movement||779,328|748,202|
|RECONCILIATION<br>OF FUNDS||||
|Parent interest brought forward<br>Non-controlling<br>interest brought|forward|7,518,690<br>1,538,677|7,518,690<br>~423,53|
|Total funds brought forward||9,102,367|7,518,690|
|TOTAL FUNDS CARRIED FORWARD||9,881,695|8,266,892|



## 



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## 

|TANGIBLE FIXEDASSETS|||
|---|---|---|
||Plant and|Charity Plant|
||Machinery|and Machmery|
||Etc|Etc|
|COST|||
|At 1"April 2021|189,859||
|Additions<br>Disposals|61,739<br>~20,276)||
|At31"March 2022|231,322||
|DEPRECIATION|||
|At 1"April 2021|119,198||
|Charge for the year<br>Elimination<br>on disposal|33,856<br>~20,276)||
|At 31"March 2022|132,778||
|NET BOOK VALUE|||
|At 3162 March 2022|98,554||
|At 31"March 2021|70,661||





## 

## 

|FIXEDA|SSE|TINVESTMENTS||||||
|---|---|---|---|---|---|---|---|
||||Consolidated|||Charity||
||||2022||2021|2022|2021|
|||||as|restated||as restated|
|Shares|||5,644,963|2,662,686||5,644,963|2,662,686|
|Other|||475,746||356,211|475,746|356,211|
|Investment|in|subsidiary||||5,714,174|5,163,543|
||||6,120,709|3,018,897||11,834,883|8,182,440|



|Cost or valuation<br>at 5th April 2022 is repre|sented<br>by:|||
|---|---|---|---|
|||Cash and||
||Listed|Settlements||
||Investinents|Pending|Totals|
|MARKET VALUE||||
|At 6'" April 2021|2,560,505|102,181|2,662,686|
|Additions|2,142,461|874,181|3,016,642|
|Disposals|(296,102)||(296,102)|
|Revaluations|261,737||261,737|
|At 5'" April 2022|4,668,601|976,362|5,644,963|



|Iflisted inve|stments<br>had not been revalu|ed,<br>they would have|been included at the followi|ng<br>historical cost:|
|---|---|---|---|---|
||||2022|2021|
|||||as restated|
|||||f.|
|Cost|||3,760,603|1,903,414|
|Investments|(neither listed nor unlisted)|were as follows:|||
||||2022|2021|
|||||as restated|
|Government|stocks||632|692|
|Building societies and fixed|||475,114|355,519|
||||475,746|356,211|





## 

|14.|INVESTMENT PROPERTY|||
|---|---|---|---|
|||Consolidated|Charity|
|||Total|Total|
||FAIR VALUE|||
||At 1"April 2021|6,557,500||
||Revaluations|525,000||
||At 31"March 2022|7,082,500||
||NET BOOK VALUE|||
||At 31"March 2022|7,082,500||
||At 31"March 2021|6,557,500||




## 

## 

|DEBTORS:AMOUNTS FALL|ING DUK WITHIN ONE YEAR|ING DUK WITHIN ONE YEAR||||
|---|---|---|---|---|---|
||Consolidated|||Charity||
||2022|2021||2022|2021|
|||as|restated||as restated|
||||||f.|
|Trade debtors|8,221||6,029|||
|Prepayments|5,240||6,517|309||
|Other debtors|50|||||
||13,511||12,546|309||



## 

|||Consolidated|Consolidated|||Charity||
|---|---|---|---|---|---|---|---|
|||2022|2021||2022||2021|
||||as|restated|||as restated|
|Listed investments||1,335||1,581||||
|Unlisted|investments|101,100||20,000||||
|Other||360,487||374,921||||
|||462,922||396,502||||





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## 

|CREDITO|RS: AMOUNTS FALLING|DUE WITHIN O|NE YEAR|||
|---|---|---|---|---|---|
||||Consolidated|Charity||
|||2022|2021|2022|2021|
||||as restated||as restated|
|Bank loans|||212,585|||
|Trade creditors||6,154|18,495|||
|Accruals||27,640|26,193|33,627|1,351|
|Corporation|tax|60,920|14,204|||
|Other tax and social security||52,798|11,969|||
|Other creditors||29,947|69,262|||
|||177,459|352,708|33,627|1,351|



## 

|||Consolidated||Charity||
|---|---|---|---|---|---|
||2022|2021|2022||2021|
|Within one year|2,552|2,552||||
|Between one and five years|638|3,189||||
||3,190|5,741||||



## 

|PROVISIONS FORLIABILITIES|||||
|---|---|---|---|---|
||Consolidated|||Charity|
||2022|2021|2022|2021|
|Deferred Tax|395,274|287,195|||
|||Deferred||Deferred|
|||Tax||Tax|
|Balance at 1"April 2021||287,195|||
|Accelerated<br>capital allowances||8,329|||
|Fair value adjustments||99 750|||
|At 5th April 2022||395,274|||





## 

## 

|||||Net movement||
|---|---|---|---|---|---|
||||At 6.4.21|In funds|At 5.4.22|
|Charity|||||E|
|Unrestricted|funds|||||
|General fund|||8,266,82|3,705,985|11,972,877|
|TOTAL FUNDS|||8,266,892|3,705,985|11,972,877|
|Consolidated||||||
|Unrestricted|funds|||||
|General —parent|||8,266,892|3,705,985|11,972,877|
|General —non-controlling||interest|1,614,803|173,884|1,788,687|
|TOTAL FUNDS|||9,881,695|3,879,869|13,761,564|



|||Incoming|Resources|Gains and|Fair value|Taxation|Movement|
|---|---|---|---|---|---|---|---|
|||resources|expended|Losses|movement||In funds|
|Charity||||||||
|Unrestricted|funds|||||||
|General fund||3,011,769|~1S6,749|850,965|||3,705,985|
|TOTAL FUNDS||3,011,769|(156,749)|850,965|||3,705,985|
|Consolidated||||||||
|Unrestricted|funds|||||||
|General fund|—Parent|3,011,769|(156,749)|850,965|||3,705,985|
|General fund|—non-|156,439|(67,995)||102,060|(16,620)|173,884|
|controlling<br>interest||||||||
|TOTAL FUNDS||~14228|~2~2M4|~m|~Z.aha.|~1~2|%529AM|





## 

## 

|Comparatives|for movement|in funds||||
|---|---|---|---|---|---|
|||||Net movement||
||||At 6.4.20|In funds|At 5.4.21|
|Charity||||E||
|Unrestricted|funds|||||
|General fund|||7,518,690|748,202|8,266,892|
|TOTAL FUNDS|||7,518,690|748,202,|8,266,892|
|Consolidated||||||
|Unrestricted|funds|||||
|General funds|—parent||7,518,690|748,202|8,266,892|
|General fund|—non-controlling|interest|1,583,678|31,125|1,614,803|
|TOTAL FUNDS|||9,102,368|779,327|9,881,695|



|||Incoming|Resources|Gains and|Fair value|Taxation|Movement|
|---|---|---|---|---|---|---|---|
|||resources|expended|Losses|movement||In funds|
|Charity||||||||
|Unrestricted|funds|||||||
|General fund||110,012|~86,630|724,820|||748,202|
|TOTAL FUNDS||110,102|(86,630)|724,820|||748,202|
|Consolidated||||||||
|Unrestricted|funds|||||||
|General fund|—Parent|110,102|(86,630)|724,820|||748,202|
|General fund|—non-|114,642|(80,856)|||(2,661)|31,125|
|controlling<br>interest||||||||
|TOTAL FUNDS||~22<br>63|~1~6~86|~~20||~2661|'~32|





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## 

|||||Net movement||
|---|---|---|---|---|---|
||||At 6.4.20|In funds|At 5.4.22|
|Charity|||f.||f,|
|Unrestricted|funds|||||
|General fund|||7,518,690|4,454,187|11,972,877|
|TOTAL FUNDS|||7,518,690|4,454,187|11,972,877|
|Consolidated||||||
|Unrestricted|funds|||||
|General funds|—parent||7,518,690|4,454,187|11,972,877|
|General fund|—non-controlling|interest|1,583,678|205,009|1,788,687|
|TOTAL FUNDS|||9,102,368|4,659,196|13,761,564|



|||Incoming|Resources|Gains|and|Fair value|Taxation|Movement||
|---|---|---|---|---|---|---|---|---|---|
|||resources|expended|Losses||movement||In funds||
|Charity||||||||||
|Unrestricted|funds|||||||||
|General fund||3,121,781|~243,379|1,575,785||||4,411,095||
|TOTAL FUNDS||3,121,781|(243,379)|1,575,785||||4,411,095||
|Consolidated||||||||||
|Unrestricted|funds|||||||||
|General fund|—Parent|3,121,781|(243,379)|1,575,785||||4,454,|187|
|General fund|—non-|271,081|(148,851)|||102,060|(19,281)|205,009||
|controlling<br>interest||||||||||
|TOTAL FUNDS||3 392862|~3~22203|~15 5|85|102060|~19~21|~465|1 6|





## 

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## 

|Detail|s ofthe Tru|st's subsidiari|es<br>as at 5th April 2022|are as follows:|||
|---|---|---|---|---|---|---|
|||||Nature of|Class ofshares|%held|
|Name|ofundertaking||Registered office|business|held|(direct)|
|||||Property|||
|PMG|Investments|Limited|United Kingdom|investment|AErB Preference|100|
|||||Property|||
|PMG|Investments|Limited|United Kingdom|investment|Ordinaiy|76|





## 

## 

||Consolidated|Consolidated|Charity||
|---|---|---|---|---|
||2022|2021|2022|2021|
|||as restated|as|restated|
|INCOME AND ENDOWMENTS|||||
|Donations<br>and legacies|||||
|Donations|2,955,185||2,874,085||
|Investment<br>income|||||
|Deposit account interest|13,579|11,265|13,579|11,162|
|Income from listed investments|124,115|98,860|124,105|98,850|
|Amounts<br>written onto investments|3,887|82,420|||
|Rental income|494,981|391,801|||
|Other income|71,852|3,346|||
||708,414|587,692|137,684|110,012|
|Total incoming<br>resources|3,663,599|587,692|3,011,769|110,012|
|EXPENDITURE|||||
|Charitable<br>activities|||||
|Grants to institutions|122,985|65,500|122,985|65,500|
|Support costs|||||
|Management|||||
|Postage and stationeiy|709|1,311|200||
|Sundries|3,036|4,243||11|
|Accountancy|20,315|22,848|2,442|(150)|
|Legal fees|7,868|16,473||660|
|Management<br>fees|23,833|20,609|23,833|20,609|
|Rental expenditure|23,693|34,336|||
|Marketing<br>and advertising|1,730|1,179|||
|Director's remuneration|77,402|89,069|||
|Director's social security|9,320|8,779|||
|Wages|73,576|71,652|||
|Social security|5,472|4,109|||
|Pensions|5,203|5,203|||
|Rates and water|13,224|13,224|||
|Light &heat|1,800|3,600|||
|Telephone|2,035|3,099|||
|Travel &subsistence|11||||
|Motor expenses|5,425|6,227|||
|Insurance|10,372|18,093|||
|Repairs and renewals|1,550|1,312|||
|Computer<br>expense|1,348|956|||
|Depreciation|33,856|24,450|||
|Profit/ loss on sale ofassets|9,500|(42)|||
|Client entertainment|39||||
||307,317|350,729|26,475|21,130|
|Carried forward|430,302|416,229|149,460|86,630|





## 

|||Consolidated|Consolidated||Charity||
|---|---|---|---|---|---|---|
|||2022|2021|2022||2021|
||||as restated||as|restated|
|Carried forward||430,302|416,229|149,460||86,630|
|Finance|||||||
|Bank charges||414|224||||
|Bank loan interest||2,148|7,080||||
|||2,562|7,304||||
|Governance<br>costs|||||||
|Auditors'<br>remuneration||7,200||7,200|||
|Total resources expended||440,064|423,533|156,749||86,630|
|Net income before gains and losses||3,223,516|164,159|2,855,020|23,382||
|Realised recognised|gains and losses||||||
|Realised gains/(losses)|on fixed asset||||||
|investments||850,965|724,820|850,965|724,820||
|Net income||4,074,500|888,979|3,705,985|748,202||