2022-12-31-accounts - William Dudley Trust

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		Page
Report ofthe Trustees		1-4
Independent Examiner's	Report	5-6
Statement of Financial	Activities
Balance Sheet
Notes to the Accounts		9- 16

			Unrestricted	Permanent	Total	Total
		Notes	Income f	Endowment	2022f	2021f
Incoming Resources
Investment income			48,373		48,373	48,154
			48,373		48,373	48,154
Resources Expended
Charitable expenditure:
Grants payable			40,425		40,425	43,508
Management expenses			6,614	7,895	14,509	14,156
Total Resources Expended			47,039	7,895	54,934	57,664
Net expenditure before	gain/
(losses) on investments			1,334	(7,895)	(6,561)	(9,510)
Deficit on investments				(102,857)	(102,857)	164,047
Realised net (loss)/gain	on
investments				(25,397)	(25,397)	(1,619)
Cash fractions &.equalisation
received
Net (expenditure)/income			1,334	(136,149)	(134,815)	153,007
Fund balances brought	forward at
1 january 2022			50,535	1,394,134	1,444,669	1,291,662
Fund balances carried forward
31 December 2022			51,869	1,257,985	1,309,854	1,444,669

		Unrestricted	Permanent	Total	Total
		Income	Endowment	2022	2021
	Note				f.
Fixed Assets
Investments			1,257,985	1,257,985	1,394,134
Current Assets
Income tax recoverable					364
Lloyds Bank Plc current account		53,663		53,663	51,965
Quilter Cheviot income account
Cash in hand		30		30	30
		53,693		53,693	52,359
Less Creditors:
Amounts falling due within one year	8	(1,824)		(1,824)	(1,824)
Net Current Assets		51,869		51,869	50,535
Total Net Assets		51,869	1,257,985	1,309,854	1,444,669
Funds (Page 7)		51,869	1,257,985	1,309,854	1,444,669

				2022f	2021f
Investment	income	from UK	listed investments	33,659	33,448
Investment	income	from non-UK listed investments		15,078	14,706
Investment	income	receivable	adjusted	(364)
				48,373	48,154

THE	WILLIAM DUDLEY TRUST
NOTES TO THE ACCOUNTS (Continued)
FOR	THE YEAR ENDING 31DECEMBER2022
3.	Grants Payable
							2022f	2021
	a) Primary Objective (per page 2)
	The Prince's Trust						20,000	25,000
	School ofjewellery, Birmingham		City University
	Design for Industry Final Degree Module Awards						6,000	5,500
	Design for Industry New Designers Event Awards						4,000	1,050
	Artist in Residence Bursary						2,000	2,000
							32,000	33,550
	b) Second Objective (per page 2)
	Age Concern, Birmingham						7,000	7,000
	c) Third Objective (per page 2)
	General Grants to Institutions	(towards		expenditure		as itemised)
	African Women Impact UK
	(Women Matters' programme)							1,000
	BIRCH Network
							1,000
	East African Women's Actions
	(Elderly refugees mental health project)							1,000
	Family Connection Association
	(Women's DIY skills training)							958
	Sudden Productions
	(Costs of printing handouts)						425
	Total number 7 (2021:8)						1,425	2,958
	Total Grants Payable						40,425	43,508
	Grants payable were attributable	to	unrestricted		funds.

3.	Grants Payable (continued)	Grants Payable (continued)	Grants Payable (continued)
	Reconciliation ofGrants		Payable
	Commitments	made in the	year			40,425	43,508
	Commitments	at 1january	2022
	Grants paid during the year					(40,425)	(43,508)
	Commitments	at 31 December		2022
4.	Management	Expenses				2022	2021
	Unrestricted	Income Fund
	Administration	fees (see below)				4,320	4,320
	Independent	examination	fees				638
	Accountancy	charges				1,800	1,162
	PO box					284	284
	Miscellaneous	expenses				211	134
						6,615	6,538
	Permanent	Endowment	Fund
	Stockbroking	and investment		advice management	fee	7,895	7,618
	Miscellaneous	expenses
						7,895	7,618

5.	Investments
					Unrestricted	Permanent		Total			Total
			Notes		Income	Endowmentf		2022			2021
	Market value at	31December		2021		1,362,279		1,362,279		1,205,562
	Add: additions at cost					103,346		103,346			67,948
										1,273,510
	Less: disposal at opening
	market value or	later cost		6		(160,616)		(160,616)		(75,278)
						1,305,009		1,305,009		1,198,232
	(Loss)/gain on revaluation					(102,857)		(102,857)		164,047
						1,202,152		1,202,152		1,362,279
	Quilter Cheviot client capital		acc			55,833		55,833			31,855
	Market value at	31 December		2022		1,257,985		1,257,985		1,394,134
6.	Realisation ofInvestments
							Opening		Gain/Loss		on Disposal
					Proceeds of		Market				From	opening
					Disposal		value				Market Value
					(excl accrued		5./or				5./or
					interest) f		Later	costf	From	cost f	Later	Cost f
	UK Listed
	Ashtead Group
	85 Ordinary				4,305	2,136	5,051		2,169		(746)
	Barelays PLC
	7,050 Ordinary				10,375	13,065	13,065		(2,690)		(2,690)
	Findlay Park
	250 Ordinary				34,738	4,472	36,970		30,266		(2,232)
	Franklin Templeton Funds
	2,617 Ordinary				23,328	21,381	28,617		1,947		(5,289)
	Lloyds Banking	Group
	22,500 Ordinary				9,665	14,094	10,755		(4,429)		(1,090)
	Matthews Asia
	2,400 Ordinary				33,792	32,004	35,832		1,788		(2,040)
	Princess Private	Equity
	2,495 Ordinary				19,018	20,859	30,327		(1,841)		(11,309)
	Grand Total				135,219	108,010	160,616		27,209		(25,397)

Summary ofInvestments	Summary ofInvestments								Market
								Cost	Value
UK Listed
375	Anglo American 55c							5,016	11,310
265	Ashtead Group ordinary 10p							6,658	12,508
28,500	Assura Plc Ordinary 10p							20,172	15,547
175	Astrazeneca Ordinary 25c							7,502	19,632
65,000	AXA Investment Man US Sh Dr Hg Yd					Bd Zi Gr Inc		65,955	53,437
22,500	Baillie Gifford RCo japanese Income				Growth			31,014	30,713
6,000	Barclays Plc Ordinary 25p							9,372	9,511
10,000	BlackRock World Mining Ordinary		5p					21,302	69,700
35,000	BlackRock Continental European	Income						43,496	60,347
3,000	British Petroleum Ordinary 25c							15,772	14,247
3,730	CT Property Growth RIncome							40,188	34,062
24,000	Fidelity UCITS ICAV US Quality Income ETF							126,540	161,190
43,416	Fidelity Investment Funds							45,397	34,169
20,000	Gresham House Energy Storage	Fd		Plc				23,082	32,300
6,500	Henderson Far East Income Ordinary					NPV		24,645	17,761
15,000	HICL Infrastructure Co Ltd Ordinary			0.01p				22,133	24,660
1,500	Intermediate Capital Group Ordinary				26.25p			10,901	17,220
15,000	International Public Partner Ordinary				0.01p			22,316	22,740
6,500	Legal fk General Ordinary 2.5p							17,150	16,218
10,750	MRG Plc Ordinary 5p							23,875	20,194
20,000	Mercantile Investment Trust PLC		Ordinary				25p	26,681	38,400
1,200	National Grid							12,830	11,969
4,000	Nb Private Equity Class A Ordinary			1c				26,063	64,000
1,000	Persimmon pic Ordinary 10p							12,718	12,170
750	Prudential Sp							11,265	8,456
303	Prusik Asian Equity Income							51,712	50,728
375	Rio Tinto pic Ordinary 10p							15,291	21,743
25,000	Royal London Bonds Funds							29,225	28,700
1,250	Royal Dutch Shell pic BOrdinary		Eur		0.07			17,724	29,075
3,750	Smiths DS Ordinary 10p							15,932	12,056
125	Taiwan Semiconductor Manufacturing							12,379	7,698
6,710	Tesco Ordinary 6.33333p							21,211	15,044
12,000	The Renewables Infrastructure							16,981	15,600
175	Unilever pic Ordinary 3.1111p							3,300	7,319
2,500	3i Ordinary 73.86p							24,717	33,538
	(2021:Cost f870,341, Market	Value				E1,123,554)		880,513	1,034,789

7.	Summary	ofInvestments (Continued)	ofInvestments (Continued)			Market
					Cost E	Valuef
	Non-UK Listed
	3,750		Black Rock GF Global High Yield A1US$		15,240	21,361
	250		Findlay Park Funds Plc American Fund		4,472	32,603
	2,800		HSBC Effs SR P 500 Ucits Etf		51,315	90,005
	2,000		HSBC Goldings Plc ord USD0.50		10,488	10,314
	175		Novartis AG CHF 0.5		9,818	13,080
			(2021:Cost f106,173,Market Value f238,725)		91,333	167,363
	Total UK and Non-UK Listed
			(2021:Cost f976,514, Market Value f1,362,279)		971,846	1,202,152
	Cash (UK)
	Quilter Cheviot capital account
			(2021:Cost f31,855, Market Value f31,855)		31,855	55,833
			(2021:Cost f1,008,369, Market Value	f1,394,134)1,003,701		1,257,985
8.	Creditors	Falling Due within One Year
			Unrestricted	Permanent	Total	Total
			Income	Endowment E	2022	2021f
	Accruals:
	Independent		examination fees 638		638	638
	Accountancy		charges 1,186		1,186	1,186
			1,824		1,824	1,824
			1,824		1,824	1,824