| Page | |||
|---|---|---|---|
| Reference and administrative | details ofthe charity, its Trustees and advisers | ||
| Trustees' report | 2-4 | ||
| Independent auditors' |
report | on the financial statements | 5-8 |
| Statement offinancial | activities | ||
| Balance sheet | 10 | ||
| Notes to the financial | statements | 11-19 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE | DETAILS OF THE | DETAILS OF THE | CHARITY, ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|
| FOR THE YEAR ENDED | 5APRIL 2022 | |||||
| Trustees | Mr P Denby, Chairman | |||||
| Mr D M Gerry | ||||||
| Mrs J Welch | ||||||
| Charity Registered | ||||||
| Number | 216471 | |||||
| Principal | Office | St Swithin's Court |
||||
| 1 Flavian Road | ||||||
| Lincoln | ||||||
| LN2 4GR | ||||||
| Independent | Auditors | Streets Audit LLP | ||||
| Chartered Accountants |
& Statutory | Auditor | ||||
| Tower House | ||||||
| Lucy Tower Street | ||||||
| Lincoln | ||||||
| LN1 1XW | ||||||
| Bankers | Handelsbanken | pic | ||||
| 1st Floor, 5 Henley Way | ||||||
| Doddington Road |
||||||
| Lincoln | ||||||
| LN6 3QR | ||||||
| Solicitors | Chattertons | |||||
| St Swithin's Court |
||||||
| 1 Flavian Road | ||||||
| Lincoln | ||||||
| LN2 4GR | ||||||
| Investment | Advisors | Brewin Dolphin | Limited | |||
| Olympic House | ||||||
| Doddington Road |
||||||
| Lincoln | ||||||
| LN6 3SE |
| Unrestricted | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022 f |
2022 F |
2022 8 |
2021f | ||
| Income and endowments | from: | |||||
| Investments | 47,466 | 47,466 | 50,102 | |||
| Total income and endowments | 47,466 | 47,466 | 50,102 | |||
| Expenditure on: |
||||||
| Raising funds | 15,200 | 15,200 | 12,751 | |||
| Charitable activities |
23,520 | 23,520 | 51,080 | |||
| Total expenditure | 38,720 | 38,720 | 63,831 | |||
| Net income/(expenditure) | before net | |||||
| gains on investments | 8,746 | 8,746 | (13,729) | |||
| Net gains on investments | 37,358 | 37,358 | 625,544 | |||
| Net movement in funds |
8,746 | 37,358 | 46,104 | 611,815 | ||
| Reconciliation offunds: |
||||||
| Total funds brought forward |
33,114 | 2,189,284 | 2,222,398 | 1,610,583 | ||
| Net movement in funds |
8,746 | 37,358 | 46,104 | 611,815 | ||
| Total funds carried forward | 41,860 | 2,226,642 | 2,268,502 | 2,222,398 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| E | K | F | ||
| Managed | investments | 47,466 | 47,466 | 50,102 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2021 | |||
| 6 | K | E | |||
| Investment | management | fees | 14,950 | 14,950 | 12,499 |
| Bank charges | 250 | 250 | 252 | ||
| 15,200 | t5,200 | 12,751 |
| Grant | |||||
|---|---|---|---|---|---|
| funding of |
Support | Total | Total | ||
| activities | costs | funds | funds | ||
| 2022 | 2022 | 2022 | 202'I | ||
| E | E | E | E | ||
| Payment | ofgrants | 19,468 | 4,052 | 23,520 | 51,080 |
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| F | E | ||
| Secretadal | services | 2,042 | 4,705 |
| Governance | costs | 2,010 | 1,980 |
| 4,052 | 6,685 |
| Grants to | Total | Total | ||
|---|---|---|---|---|
| Institutions | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| E | E | E | ||
| Payment | ofgrants | 19,468 | 19,468 | 44,395 |
| Listed | |
|---|---|
| investments | |
| Cost or valuation | |
| At 6April 2021 | 2,138,498 |
| Additions | 440,499 |
| Disposals | (404,997) |
| Revaluations | (14,230) |
| At 5 April 2022 | 2,159,770 |
| Net book value | |
| At 5 April 2022 | 2,159,770 |
| At 5April 2021 | 2,138,498 |
| Material I | nvestments | ||
|---|---|---|---|
| 2022f | 2021 | ||
| UK Bonds | 215,687 | 200,120 | |
| Overseas | Bonds | 44,528 | 47,472 |
| UK Equities | 583,886 | 608,312 | |
| Overseas | Equities | 648,925 | 551,878 |
| Global Investments | 294,472 | 305,090 | |
| Absolute | Return | 52,525 | |
| Property | 68,068 | 61,614 | |
| Private Equity | 132,140 | 181,213 | |
| Other Investments | 172,064 | 130,274 | |
| 2,159,770 | 2,138,498 |
| 2022f | 2021 |
|---|---|
| 1,550 | |
| 1,550 | |
| 2022f | 2021f |
| 2,010 | 1,980 |
| Statement | offunds | - cu | rren | t year | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at 6 | Gains/ | Balance at 5 | ||||||||||
| April 2021 Income |
Expenditure | (Losses) | April 2022 | |||||||||
| K | 6 | E | E | 8 | ||||||||
| Unrestricted | funds | |||||||||||
| General funds | 33,114 | 47,466 | (38,720) | 41,860 | ||||||||
| Endowment | funds | |||||||||||
| Endowment | funds | 2,189,284 | 37,358 | 2,226,642 | ||||||||
| Total offunds | 2,222,398 | 47,466 | (38,720) | 37,358 | 2,268,502 | |||||||
| Endowment | Funds | represent | a permanent endowment |
which | is | not | available | for distribution. | ||||
| Endowment | Funds | contain | F100,000 of Unrestricted Funds. |
During 2010, the Trustees |
made the |
|||||||
| decision to | make surplus | Unrestricted Funds available for investment to capitalise |
on the recovery ofthe | |||||||||
| stock market. It is |
noted | that should the need arise |
for charitable | usage of | these | unrestricted | reserves | |||||
| then a transfer would be | made from the Endowment Fund to |
the Unrestricted | Fund. | |||||||||
| Unrestricted | Funds | are those | which can be utilised at | the discretion | ofthe Trustees. | |||||||
| Statement offunds - prior year | ||||||||||||
| Balance at | Geina' | Balance at | ||||||||||
| 6April 2020 | Income | Expenditure | (Losses) | 5April 2021 | ||||||||
| E | E | L | ||||||||||
| Unrestricted | funds | |||||||||||
| General funds | 46,843 | 50,102 | (63,831) | 33,114 | ||||||||
| Endowment | funds | 1,563,740 | 625,544 | 2,189,284 | ||||||||
| Total offunds | 1,610,583 | 50,102 | (63,831) | 625,544 | 2,222,398 |
| Summary |
offunds - current ye | ar | ||||
|---|---|---|---|---|---|---|
| Balance at 6 | Gains) | Balance at 5 | ||||
| April 2021 6 |
Income 6 |
Expenditure 6 |
(Losses) 6 |
April 2022 6 |
||
| General funds | 33,114 | 47,466 | (38,720) | 41,860 | ||
| Endowment | funds | 2,189,284 | 37,358 | 2,226,642 | ||
| 2,222,398 | 47,466 | (38,720) | 37,358 | 2,268,502 | ||
| Summary | offunds - prior year | |||||
| Balance at | Gains/ | Balance at | ||||
| 6April 2020 8 |
Income 6 |
Expenditure | (Losses) | 5April 2021 L' |
||
| General funds | 46,843 | 50,102 | (63,831) | 33,114 | ||
| Endowment | funds | 1,563,740 | 625,544 | 2,189,284 | ||
| 1,610,583 | 50,102 | (63,831) | 625,544 | 2,222,398 |
| Analysis ofnet assets between funds -curr | ent year | ||
|---|---|---|---|
| Unrestricted | Endowment | Total | |
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| 6 | 6 | 6 | |
| Fixed asset investments | 2,159,770 | 2,159,770 | |
| Current assets | 43,870 | 66,872 | 110,742 |
| Creditors due within one year | (2,010) | (2,010) | |
| Total | 41,860 | 2,226,642 | 2,268,502 |
| Unrestricted | Endowment | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| 8 | E | |||
| Fixed asset investments | 2,138,498 | 2,138,498 | ||
| Current | assets | 35,094 | 50,786 | 85,880 |
| Creditors | due within one year | (1,980) | (1,980) | |
| Total | 33,114 | 2,189,284 | 2,222,398 |