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