## |||Page| |---|---|---| |Report ofthe Trustees||1-4| |Independent
Examiner's|Report|5-6| |Statement of Financial|Activities|| |Balance Sheet||| |Notes to the Accounts||9- 17| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Permanent|Total|Total| |---|---|---|---|---|---|---|---| |||||Income|Endowment|2023|2022| ||||Notes||||| |Incoming
Resources|||||||| |Investment
income||||50,526||50,526|48,373| |||||50,526||50,526|48,373| |Resources Expended|||||||| |Charitable
expenditure:|||||||| |Grants payable||||45,000||45,000|40,425| |Management
expenses||||7,135|7,596|14,731|14,509| |Total Resources Expended||||52,135|7,596|59,731|54,934| |Net expenditure
before|gain/||||||| |(losses) on investments||||(1,609)|(7,596)|(9,205)|(6,561)| |Increase/(decrease)
in|unrealised||||||| |revaluation
of investments|||||60,878|60,878|(102,857)| |Realised net gain/(losses)||on|||||| |investments|||||10,261|10,261|(25,397)| |Net (expenditure)/income||||(1,609)|63,543|61,934|(134,815)| |Fund balances
brought|forward at||||||| |1january
2023||||51,869|1,257,985|1,309,854|1,444,669| |Fund balances carried forward|||||||| |31December 2023||||50,260|1,321,528|1,371,788|1,309,854| |||Unrestricted|Permanent|Total|Total| |---|---|---|---|---|---| |||Income|Endowment|2023|2022| ||Note||||| |Fixed Assets|||||| |Investments|||1,321,528|1,321,528|1,257,985| |Current Assets|||||| |Income tax recoverable|||||| |Lloyds Bank Plc current account||52,054||52,054|53,663| |Quilter Cheviot income account|||||| |Cash
in hand||30||30|30| |||52,084||52,084|53,693| |Less Creditors:|||||| |Amounts
falling due within one year|8|(1,824)||(1,824)|(1,824)| |Net Current Assets||50,260||50,260|51,869| |Total Net Assets||50,260|1,321,528|1,371,788|1,309,854| |Funds (Page 7)||50,260|1,321,528|1,371,788|1,309,854| ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2023|2022| |---|---|---|---|---|---|---| |Investment|income|from|UK|listed investments|33,166|33,659| |Investment|income|from|non-UK listed investments||17,360|15,078| |Investment|income|receivable||adjusted||(364)| ||||||50,526|48,373| |3.|Grants Payable|||||||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||2023f|2022f| ||a) Primary
Objective (per page 2)|||||||||| ||The Prince's Trust||||||||20,000|20,000| ||School ofjewellery,
Birmingham||City|University||||||| ||Design for Industry
Final Degree Module|||||Awards|||4,500|6,000| ||Design for Industry
New Designers|||Event||Awards|||4,000|4,000| ||Artist in Residence
Bursary||||||||4,500|2,000| ||||||||||33,000|32,000| ||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)||| ||BIRCH Network|||||||||1,000| ||Special Olympics
City of Birmingham||||||||1,000|| ||Sudden
Productions|||||||||| ||(Costs of printing
handouts)|||||||||425| ||Sandwell
Youth
in Action||||||||1,000|| ||Maryvale
Community
Project||||||||1,000|| ||Sandwell
Asian Development|Association|||||||1,000|| ||Make Them Smile||||||||1,000|| ||Total number
10(2022: 7)||||||||5,000|1,425| ||Total Grants Payable||||||||45,000|40,425| ||Grants payable
were attributable|to|unrestricted||||funds.|||| |3.|Grants Payable (continued)|Grants Payable (continued)|Grants Payable (continued)|||| |---|---|---|---|---|---|---| ||||||2023|2022| ||Reconciliation
ofGrants||Payable|||| ||Commitments|made
in the year|||45,000|40,425| ||Commitments|at 1january|2023|||| ||Grants
paid during
the year||||(45,000)|(40,425)| ||Commitments|at 31 December 2023||||| |4.|Management|Expenses||||| ||||||2023|2022f| ||Unrestricted|Income Fund||||| ||Administration|fees (see below)|||4,620|4,320| ||Independent|examination
fees||||| ||Accountancy|charges|||1,800|1,800| ||PO box||||300|284| ||Website||||361|| ||Miscellaneous|expenses|||53|210| ||||||7,135|6,614| ||Permanent|Endowment|Fund|||| ||Stockbroking|and investment|advice management|fee|7,596|7,895| |5.|Investments|||||| |---|---|---|---|---|---|---| ||||Unrestricted|Permanent|Total|Total| |||Notes|Income
f|Endowment|2023
f|2022f| ||Market value at 31 December 2022|||1,202,152|1,202,152|1,362,279| ||Add: additions at cost|||230,623|230,623|103,346| |||||1,432,775|1,432,775|1,465,625| ||Less: disposal at opening|||||| ||market value or later cost|6||(217,698)|(217,698)|(160,616)| |||||1,215,077|1,215,077|1,305,009| ||Gain/(loss)
on revaluation|||60,878|60,878|(102,857)| |||||1,275,956|1,275,956|1,202,152| ||Quilter Cheviot client capital|acc||45,572|45,572|55,833| ||Market value at 31 December 2023|||1,321,528|1,321,528|1,257,985| ## |.
Realisation ofInvestm|ents||||| |---|---|---|---|---|---| |||||Gain/Loss|on| |||||Disposal|| ||Proceeds|Cost|Opening|From|From| ||of||market|cost
opening|| ||disposal||value|market|| ||(excl||5./ or||value| ||accrued||Later||5./ or| ||interest)||cost||Later| ||||||cost| |UK Listed|||||| |Anglo American
USD0.54945|2,965|1,605|3,884|1,360|(919)| |120 Ordinary|||||| |Ashtead
Group|1,694|754|1,416|940|278| |30 Ordinary|||||| |Assura
Plc|16,013|20,172|15,547|(4,159)|466| |28500 Ordinary|||||| |Baillie Gifford Inv Funds II|15,480|15,507|15,357|(27)|124| |11250Ordinary|||||| |Blackrock Continental
European
Inc D Dis|61,672|43,496|60,347|18,177|1,325| |35000 Ordinary|||||| |Blackrock World
Mining
Trust|19,251|6,391|20,910|12,860|(1,659)| |3000 Ordinary|||||| |Dechra Pharmaceuticals|22,321|16,513|16,513|5,808|5,808| |600 Ordinary|||||| |Henderson
Far East Income
Ltd|16,837|24,645|17,761|(7,808)|(924)| |6500 Ordinary|||||| |National
Grid|11,289|12,830|11,969|(1,542)|(680)| |1200 Ordinary|||||| |Persimmon|12,239|12,717|12,170|(478)|69| |1000Ordinary|||||| |Rio Tinto|3,036|2,446|3,479|589|(443)| |60 Ordinary|||||| |Sandoz Group|811|496|496|316|315| |35 Ordinary|||||| |Tesco|16,454|21,210|15,044|(4,756)|1,410| |6710Ordinary|||||| |3i Group|27,896|16,807|22,806|11,089|5,090| |1700Ordinary|||||| |Grand Total|227,959|195,590|217,698|32,369|10,261| ## ||||||||Market| |---|---|---|---|---|---|---|---| |||||||Cost|Value| |UK Listed|||||||| |800|3i Group ord GBP0.738636|||||7,909|19,368| |255|Anglo American
USD0.54945|||||3,410|5,025| |235|Ashtead
Group ord GBP0.10|||||5,905|12,836| |175|Astrazeneca
ord USD0.25|||||7,502|18,550| |65,000|AXA Fixed Interest Investment|ICVC AXA US Short Dur||||65,955|55,367| ||High Yield ZI Gross DIS||||||| |11,250|Baillie Gifford Inv Funds II ICVC Japanese|||Inc Gth W4||15,507|15,199| ||Dis||||||| |6,000|Barclays Plc Ord GBP0.25|||||9,372|9,227| |7,000|Blackrock World
Mining Trust ord GBP0.05|||||14,911|41,090| |3,000
3,730|BP ord USD0.25
CT Property
Growth 5Income|Fd ICVC|Q|GBP|Dis|15,772
40,188|13,985
35,832| |3,400|Draktrace
Plc|||||11,442|12,468| |60,078|Fidelity European
R GBP Dis|||||61,692|65,005| |43,416|Fidelity Moneybuilder
Income Fund|||||45,397|35,484| |20,000|Gresham
House Energy Storage Fd Plc|||||23,082|21,800| |15,000|HICL Infrastructure
Plc Ord|||||22,133|20,790| |2,000|HSBC Holdings
Plc ord USD0.50|||||10,488|12,710| |1,500
6,500|Intermediate
Capital Group Plc ord GBP0.2625
Legal 5General
Group ord GBP0.025|||||10,900
17,150|25,208
16,322| |13,000|MRG Investment
Funds (1)M5G japan||Sterling||PP Dis|15,537|17,189| |10,750|MRG Plc Ord GBP0.05|||||23,875|23,908| |20,000|Mercantile
Investment
Tst Pic (The) Ord||GBP0.025|||26,681|44,300| |19,550|Octopus Renewables
Infra Tr Plc ord GBP0.01|||||20,177|17,595| |750|Prudential
GBP0.05|||||11,265|6,654| |315|Rio Tinto ord GBP0.10|||||12,844|18,402| |25,000|Royal London
Bond Funds ICVC Sterling||Credit||Z|29,076|30,225| |1,250|Shell Plc ord EURO.07|||||17,725|32,144| |3,750|Smith(DS) ord GBP0.10|||||15,932|11,524| |175|Unilever
Plc ord GBP0.031111|||||3,300|6,650| ||(2022: Cost f880,513; Market|Value f1,123,554)||||565,128|644,857|