2022-03-31-accounts - The Conservative Agents' Charity

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FORTHE YEAR ENDED 31MARCH 2022
	Page No.
Reference and Administrative Information
Trustees' Report	4 —9
Report ofthe Independent Auditors	10-13
Statement of Financial Activities	14
Balance Sheet	15
Notes tothe Financial Statements	16-21

Founded 1892:Registered	Charity Number 216438	Charity Number 216438	Charity Number 216438	Charity Number 216438	Charity Number 216438
Reference and Administrative			information
Patron
The Rt Hon Lady (Theresa)	May		MP appointed		October 2020.
FInancial Trustees
Mr Graham Park CBE - Chairman			of Financial Trustees			until 26October 2021
Mr Donald Porter CBEChairman			of Financial Trustees			from 26October 2021
Mr Charles Barwell OBE
SirAnthony Garrett CBE
Mr Brain Hamill appointment		confirmed		on 26October 2021
The Baroness (Emma) Pidding		CBE
Mr John Watson OBE
Officers
President
SirAnthony Garrett CBE
HonoraryTreasurer
Mr James Cockram
Honorary Secretary
Mrs Sally Smith MBE BA
Appointed Registrar
Mr Andrew Varney

Cooper Parry Group Umited	Cooper Parry Group Umited
Statutory Auditor
Cubo Birmingham
Office401, 4~ Floor
Two Chamberlain	Square
Birmingham
B33AX

					2022	2021
					Total	Total
					Unrestricted	Unrestricted
					funds	funds
				Note	E	E
Income and endowments			from:
Donations and	legacies				4,612	11,820
Other trading	activities				6,557
investments					22,026	39,626
Total					33,195	51,446
Expenditure on:
Raising funds					12,052	17,260
Charitable activities					256,449	256,228
Total					268,501	273,488
Net expenditure					(235,306)	(222,042)
Other recognised gains			and losses
Gains on investment		assets			153,685	403,238
Net movement	in funds				(81,621)	181,196
Recondliation	offunds
Total funds brought		forward at 1April
2021					2,152,411	1,971,215
Total funds carried		forward at 31
March 2022					2,070,790	2,152,411

Notes	tothe FInancial Statements forthe year ended S1March 2022 {continued)	tothe FInancial Statements forthe year ended S1March 2022 {continued)
	f)	Investments
		Investments are shown in the balance sheet at mid-market value.
		All income from investments isaccrued.
		Realised investment gains are the surplus ofproceeds of realisation		over market			value		at the previous
		year end orcost ofpurchase during the year, after charging costs ofsale.
		Unrealised investment gains or losses are the difference between costofpurchase or carrying value at
		previous balance sheet date and year end balance sheet value after	adjusting			for disposals.
	g)	Cash
		Cash is represented by cash in hand and deposits with financial institutions			repayable				without	penalty
		on notice ofnot more than 24 hours.
	h)	Debtors and Creditors
		Debtors and creditors with no stated interest rate and receivable		or payable			within one year				are
		recorded attransaction price.
	i)	Foreign currendes
		Overseas investments are converted into sterling at the exchange		rates ruling			at the		year end.		Cost
		values are shown at the exchange rates ruling at the date ofpurchase.
	j)	Taxation
		The Association, asa charity, is not subject totax and is able to reclaim tax deducted						at source.
	k)	Finandal instruments
		The trust only has financial assets and financial liabilities of a	kind that			qualify		as basic financial
		instruments. Basic financial instruments are initially recognised at	transaction			value		and subsequently
		measured at their settlement value.
	I)	Funds
		All funds are unrestricted.
S	jUDGEMENTS IN APPLYING ACCOUNTING POUCIES AND KEYSOURCES OF ESTIMATION UNCERTAINTY
	Estimates and judgements are continually evaluated and are based on historical experience and other									factors,
	including expectations offuture events that are believed to be reasonable		under the			circumstances.
	Critical accounting estimates and assumptions:
	The charity makes estimates and assumptions concerning the future. The		resulting		accounting				estimates		will,
	by definition, seldom equal the related actual results. The trustees do not believe				there are any assumptions
	that have a significant risk of causing a material adjustment to the carrying			amounts			of assets and liabilities
	within the next financial year are addressed below.
4	INCOME FROM DONATIONS AND LEGACIES
						2022					2021
							E				E
		Members' subscription &other donations				4,612					11,820

5	INCOME FROM OTHER TRADING ACTIVITIES	INCOME FROM OTHER TRADING ACTIVITIES	INCOME FROM OTHER TRADING ACTIVITIES	INCOME FROM OTHER TRADING ACTIVITIES
					2022f	2021 f
	Contributions		towards AGM		6,557
6	INVESTMENT	INCOME
					2022f	2021 f
	Listed investments				22,026	39,626
7	EXPENDITURE		ON RAISING FUNDS
					2022 f	2021f
	Investment	management		fees	12,007	16,979
	Interest				45	281
					12,052	17,260
8	EXPENDITURE		ON CHARITABLE ACTIVITIES
					2022	2021
					f	f
	Grants made		(note 9)		216,327	225,534
	Governance		cost (note 10)		40,122	30,694
					256,449	256,228

Note	s tothe Finandal Statements forthe year ended 31March 2022 (continued)
9	GRANTS AWARDED
	All grants awarded in the year have been made to individuals.
	The grants awarded during the year can be categorised as follows:
	Type ofGrant	2022	2021
		E	E
	Special grants	158,656	147,250
	Monthly grants TVlicence grants	42,588	58,141 575
	First seasonal grants Second seasonal grants	4,157 5,099	3,849 4,751
	Newspapers grants Discretionary grants	1,345 4,482	2,162 8,806
		216,327	225,534
10	GOVERNANCE COSTS
		2022	2021
		E	E
	Secretarial and office Audit fees	30,222 9,900	21,694 9,000
		40,122	30,694

Fund, holding 60,778.430units	at a	m	arket value ofE2,	039,724.
					2022	2021
					E	E
Market value at 1April 2021					2,121,563	1,934,304
Additions					2,327,881	902,896
Disposals					(2,547,904)	(1,076,250)
Movement in capital account					(15,501)	(42,625)
Net realised investment gains	/ (losses)				253,528	105,518
Net unrealised investment gains					(99,843)	297,720
Market value at 31March 2022					2,039,724	2,121,563
Historical cost at 31March 2022					2,139,566	1,605,957
Income and accumulation managed			funds		2,039,724
United Kingdom listed investments						708,479
Overseas listed investments						1,319,545
United Kingdom cash deposits						15,501
Interest in freehold property						78,038
Market value at31March 2022					2,039,724	2,121,563
Individual holdings at 31March	2022		in excess of5%of	the portfolio value was	as follows:
Holding Investment					2022	2021
					E	E
60,778.430
(2021:Nil) Rothschild	&Co		New Court Fund		2,039,724
Nil (2021:840) Findlay Park Fds						100,337
The fund manager's latest factsheet		can be found here		which includes a review	ofhistoric performance	and an
analysis ofthe underlying holdings		and allocations ofthe New Court Fund 6BP.
DEBTORS
					2022	2021
					E	E
Accrued income						9,299
LIABIUTIES —amounts falling due within one year
					2022	2021
					E	E
Accruals					9,928	9,600

FINANCIAL	INSTRUMENTS
			2022	2021
			E	E
Financial	assets
Financial	assets measured at fair value through	profit and loss	2,080,371	2,152,712

ECONCIUATION OF MOVEMENT IN TOTAL FUNDS
	2022	2021
	E	E
At 1April 2021	2,152,411	1,971,215
Net deficit for the year	(235,306)	(222,042)
Gains on investments	153,685	403,238
At 31March 2022	2,070,790	2,152,411