SKELTON BOUNTY ANNUAL REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2022 CHARITY NUMBER: 219370
SKELTON BOUNTY TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2022 The Trust6es present their annual report and financial stalements of the charity for the year 6nded 51h April 2022. The financial statements have been prepaTrd in accordance wlh the charity's trust deed, the Charities Act 20118nd Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reportlng Standard applicabl6 in the UK and Republic of Ireland {FRS1021 update bullell 2 (effective 181 January 201 gi. The accounts have departed from the Charfties (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a twe and fair view. This departure has involved followng the Statement of Recommended Practice for charities applying FRS 102 ralher than the version of the Statement of Recommended Practice which is referred to in the Regulations bul which has since been withdrawn. OBJECTIVES AND ACTIVITIES The charity makes grants to legally conslituled charities silualed working within the counties of Lancashire. Greater Manchester, and Merseyside Ilnduding the unitary areas of Blackburn, Blackpool, Hallon and Warringlon). Grant PAaklng Policy: Th& availability of grants is publicised and applications for grants are received each year botween F8bruary and May. Decisions about which applications ara to be supported are taken by the Trustees at Ihelr annual meeting which 15 Usually held in June or July. The Bounty makes grants whoso sizes range from as little as £50 lo a maximum of £5,000 (2021- maxSmum £5,000). Factors which are taken into account in ch¢)osing the successful applications include the amount sought, thè natur8 of the applicant charlly and the project, and whether the applicant charity has 8 track record of successfully delivering its objectives with previous assistance from the Bounty. The Trustees prefer lo make grants to assist capiial or one-off projects rather than recurring routlne expenditure. Publlc B8n8flt: In planning the charity's grant maklng activities the Trustees havo given consideration to the Charity Commission's guidance on public benefit. As a grant making charity, all applications are Gonsidered lo ensure beneficiary charities themselves deliver public benefit. ACHIEVEMENTS AND PERFORMANCE Grants were awarded lo 8412021.. 63) chattlies ranging fr(xn £400 to £2,015 (2021.. £500 to £2,500). The charity's investments are held in compostte funds which are actively rnonilored and managed throughout the year by the Investment Managers. The inwme generated by the investments has been sufficient for tha charity to maintain ils desired level of grant making. Oelails of the Charity's activity can be found on Mvw.skeltontharity.rA)m.
SKELTON BOUNTY TRUSTEES. REPORT FOR THE YEAR ENDED 5TH APRIL 2022 FINANCIAL REVIEW Investment income of £112.14012021: £104,001) was reiVed during the year. This enabled grants of £gg.068 (2021: £87,959} lo be made lo charities. Al 31st Marth 2022 capital investments were valued at £3.192,032 (2021.. £2,989.130). Reserves Policy: The policy of the Trustees is to hold free reserves of approxlmalely one ye8rfs income to protect the Bounty's ability to contlnue to make grants in the event of unexpecled redudions in income received. In practice. this policy means thal Ihe whol8 of the annual income generated each year. apart from adminislralion costs, is available for distribution in grants In the following year. Any undistribuled surpluses are carried forward for use in future years. Al the year end the charity held total funds of £3,353,048 of which £3,192,032 {2021'. £3,153,482 of whlch £2,989,130) are held as permanent 6ndowmenl funds., the balance held as unrestricted funds 8nd reg8rded as free reserves was £161.016 {2021- £164,352). The Quent year's Income was £112,14012021'. £104,001) which is lower than the level of reserves actually held due lo b'ming drfferences of psym6nts being made. Inv6stm8nt Pollcy and Powèrs: The Investment policy adopted is in accordance with the schedule to the Schom8 for the regulallon of The Skelton Bounty made in 1991. The policy is to generate income for the maklng of grants, while maintainlng capital growth to prolecl the value of Ihe investments in real temis. Historically, our Investment 2pproath has been generally UK focused with 8 relatlvely namw 8ssel allocation. Investment opportunllles have become much more global in recent years. and we l¢)ok the decision lo appoint an Independent company to carry out a review of our existing investments lo help ensure we can continue lo provide a sustainable level of grants in future years. This review has now been comploted and, bas6d on the recommendations provided. we are in the process of broadening our investment portfollo to take advantage of the w(der investment universe. Risk Manag•ment: The main risks lo which the charity is exposed. as klentified by the Trustees, have been considered and systems have been established to mitigate those risks. A detailed process Is undertaken by LCVS as the granls administrator to validate applicants aniJ applications for grants. Plans forthe Future The objectives of the charity remain unchanged for the future; the intention is lo continue to steward the charity's investment assets with Ehe aid of professional fvnd managers and to continue to use the investment income lo assist charities working in the area of benefit. Currently the areas are Lancashire. Greater Manthester, and Merseyside induding the unilary areas of Blackburn. Blackpool, Halton, and Warrington.
SKELTON BOUNTY TRUSTEES, REPORT FOR THE YEAR ENDED 5Th APRIL 2022 STRUCTURE, GOVERNANCE AND MANAGEPAENT Organlsatlon, Management and Delegatlon: The Trustees meet 8nnually to review the charitS strategy and performance, consider appllcatlons for grants, and monitor the charity's financial position and inveslmenls. The Trustees also meel at other times during the year as necessary. G0Veman of the charity continued during the ongoing Covid-19 pandemic by periodic vlrtual meetings of the Trustees as and when required. The Trnste6s have delegated the day-ttrday admini81ralion of grantMakIng, including recelving and making preliminary assessments of applications, to LCVS which is also responsible in th8 first instance for mainlaining the charity's linancial records. Recrultment and Appolntment of New Trustees: New Irusle8s are selected by th8 existing Board of Truste8s, on the basls of skills and experienc8 and to 8nsure that as a group the Trustees are knowledgeable about the whole of the Bounty's g6ographicAI area of beneflt. The Board is also responsible for thc induction and Iralnlng of the new trustees. New Iruslees are appolnted, by a resolulion of the Trustees passed al a sp8Ci81 meellng of whlch not less than 21 days, notlce has b8en given, for a lemi of five years: a trustee reachlng the end of herlhls h'rst term be re-appointed bul no trustee can serve more than two nsecUtIve temis. REFERENCE AND ADMINISTRATIVE DETAILS Skellon Bounty is a registered charity. number 219370. established under a Scheme of the Charily Commlssion sealed on 7th March 1991 and amended administratively by an Order of the Charity Commission dated 6th February 2004. The Scheme was upjated on 8th July 2018. The 1991 Schemé was made to unite three separate tharilies, The Charity of Joseph Skelton found6d by Wlll proved on 131h August 1915. The Charity of Charles Jones Skellon founded by Will proved on 1ts1 Febru8ry 1927 and The Charity of Ann Skellon founded by Will proved on 22nd June 1931. The charity uses the working name The Skellon Charity. Princlpal Offlce: 151 Dale Street, Liverpool L2 2AH Trustees: The Trustees durlng the year and up to and indIng the date of this report were: Mr R. E Hough CBE, DL Sir Mark Hedley DL Mrs E. Conn OBE, JP, DL Mrs G. S Stanley MBE. JP, DL Mrs S. Lomas OBE, DL Mrc. Hankinson DL Mrs N. Chaudhry Mrs C. Reeves Mr G. Singh MBE. DL
SKELTON BouKrY TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2022 Professional Advisers: Bankers Natwest PLC 130 Lord Streel. Southport PR9 OAE Toney Stanley ACA BWM Chartered Accountants Suite 5.1, 12 Tilhebarn Street Liverpool L2 2DT Liverpool Charity and Voluntary Services (LCVSI 151 Dale Streel. Liverpool L2 2AH Independent Examiner Accounlant & Administrator Trustaos, Rosponslbllltles The Trustees are responsible for preparing th8 Trustees, Rewrt and the accounts in accordanc6 with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England and Wales requires the Trustees to prepare accounts for each financlal year whlch give a true and fair view of the slate of 8ffairs of the charlly and of the Incomlng resources and application of resources of the charlty for thai year. In pr8parlng thes8 accounts. the Trustees are required to.. select suitable accounting policies and thon appty them conslstently. obseNe the methods and principles In the Charities SORP.. make judgements and eslimaies that are reasonable and prudent., stale whether applicable accounting standards have been folbwed, sublecl lo any material departures disclosed and explained in lh8 accounts,. and prepare the accounts on the going concem basis un18SS it is inappropriate to presume that the charity will continue in operatton. The Trustees are responsible for keeping sufficienl accounting records that dlsdose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the a¢¢ounts comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trusl deed. They are also responsSble for safeguarding Ihe assets of the charity and hence for tsking reasonab slaps for the prevention and delectlon of fraud and other irregularities. Approved on une 2022 by the Trustees and signed on their behalf by Slr Mar Trustee Hedley DL Mr Robert Hough CBE, DL Trustse Dated: 340 fiBAL>4py 2ts23
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SKELTON BOUNTY I report to the Trustees on my examination of the accounts of Skellon Bounty for the year ended Sth April 2022. This report is made solely lo the charily's trustees. as a body. in accordance wlth Section 145 of the Charities Act 2011. My examination has been undertaken so Ihal I might stal& to the ¢harily's trustees those malters l am required to slate lo them in an Independent Exarninerfs report and for no other purpose. To the fullest extent pemilted by law. I do not a¢p1 or assume responsibility lo anyone other than the charity and the thariws trustees as a t)ody, for my examinalion, for this report, or for the opinions I have formed. Responslbllltles and basls of report As the Iruslees of Skellon Bounty Y are responsible lor the preparation of the accounts in accordance with th8 requirements of the Chariues Acl 2011 {'the Act,). I report in respect of my examination of the Trust's accounts as carried out under section 145 of th8 2011 Act and in carrying out my examination I have followed all the appllcable Directions glven by the Charity Commission under seclion 145(5) (b) of the Act. Indepandent oxamlnefs statoment I have completed my examination. I confim) that no matters have com8 to my attention In connection with the examination gSvin9 me cause lo believe that in any material respect: 1. accounting records were not kept in resp8Ct of Ihe Trust as required by séctlon 130 of the Act., or 2. the accounls do not accord with those records., or 3, thè accounts do not comply with the accounts'ng requirem8nts conMIng the fomi and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requSremenl that the accounts give a 'true and falr. vtew which is not a matter considered as part of an independenl examination. I have no concerns and have come across no olher matters in connection with the examination to which allenlion should be drawn In thls report In order lo enable a proper understanding of Ihe aoUnt$ lo be reached. Tony Stanley ACA 6thJ BWM Chartered accountants Suite 5.1, 12 Tithebarn Street Llverpool L2 2DT 03.02.23
SKELTON BOUNTY STATEmETr OF FINANCIAL ACTlVtflES FOR THE YEAR ENDED 5TH APRIL 2022 Year to 5th A rll 2022 Permanent Unrestricted Endowment Notes Funds Funds Year to 5th April 2024 Total Total Income and Endowments from: Investrnents 112,140 112,140 104,001 Total 112,140 112,140 104,001 Exp•ndlture on: Raising funds Charitable activities 5.000 110.476 5,000 110.476 101.411 Total 115A76 115,476 101,411 Net lexpendltureyln¢oma and not movement In lunds before galns on Investments (3,336) (3,3361 2,590 Other recognlsod galns Gains on inv8slment assets 202,902 202,902 483,213 Net movement In fund8 {3,336) 202,902 199,566 485,803 Reconclllation of funds: Total funds brought fOard 164,352 2.989,130 3,153,482 2.667,679 Tolal funds carrl•d forward &10 161,016 3,192,032 3,353,048 3,153,482 The notes on pages 10 to 16 fomi part of these accounts. The nel movement in funds in the year was derived fn)m the continuing activity of the tharity. These Linaudlled financ4al sl818m8nts have beon suected to IndOpeIent 8X8mination. See report oti page 6.
SKELTON BOUNTY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2022 PRIOR YEAR COMPARISON Year to 51h A rll 2021 Pemianent Unrestricted Endowment Notes Funds Funds Total Income and Endowments fmm.. Inv8s¢m8nts 104,001 104,001 Total 104,001 104,001 Expendlture on.. Charitable activit18S 101.411 101,411 Total 101,411 101,411 Net Income and net mov8mont In fiinds beforn losses on Investments 2,590 2,590 Other recognlsed lossos G8lns on Inveslment 8ss8ls 483,213 483.213 Net movement In funds 2,590 483,213 485,803 Re¢on¢1118tlon of funds.. Total funds broughl fonvard 161,762 2,505,917 2,667,679 Total funds carrled filard 8-10 164,352 2,989.130 3. 153,482 The notes on pages 10 to 16 fomi part of these accounts. The net movement in funds in the year was derived from the continuing activity of the charlty. Th8se unaudited linanual slalements hav8 been subiedEd io independent exarnination. S88 rèport on ge 6.
SKELTON BOUNTY BALANCE SHEET AS AT 5TH APRIL 2022 Al 5th April 2022 At 5th April 2021 Notes Fixed assets.. Fixed asset inveslmenls 3,192,032 2,989,130 Total flx8d assets 3.192,032 2,989,130 Curront assets.. Debtors Cash balance 12,592 159,943 12,307 162,437 Total current assets 172,535 174.744 Llabllltles." Creditors falllng due within one year (11.519) (10,3921 Nat current a888Is 181.016 164,352 Net Assets 3,353,048 3,153,482 Th• funds of the charlty." Permanent Endowmert Funds Unreslrictsd Funds 8.10 9.10 3,192.032 161,016 2,989,130 164,352 3.353.048 3,153,482 Approved d authorlsed for Issue by the Trustees and slgned on thelr b8half by si Mark Hedley DL Trustee Mr Robert Hough CBE, DL Trustee 3.. F£fj.. Ay Thase unaudited fin8nGkl slat8menls have been svbjected to independent tsxamlnalion. See report on paue 6.
SKELTON BOUNTY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 ACCOUNTING POLICIES Basls of Preparatlon The accounts have been prepared under the historical Cosl convention with items recognised at cost or transaction value unbss otherwise slated in the felevanl notels) to these accounts. The fi'nancial slalemenls have been prepared in accordan wilh the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS1021 update bullelln 2 (effective 1 January 2019) and Charities Act 2011. The charity Is a publlc benefit entity as defined by FRS102. The accounts have departed from the Charities (Accounts and Rewrts) ReguLqlions 2008 only to Ihe extent raquired to provide a true and fair view. This departur8 has involved following the Slatement of Recommended Practice for charilles applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulatii)ns bul which has since been ¥Mthdrawn. The accounts are prepared in slerllng, which is the functional curr8ncy of the charity. Monelary amounts in th&se financial slal8m8nls are rounded to the nearest £. The Charlly has taken advantage of the provisions in th8 SORP for Charities applylng FRS 102 Updale Bulletin 1 not lo prepare a Statement of Cash Flows. Golng concern The Trustees have prepared finandal projections and are satisfied that tt)e charity can continue 8S 8 going concern for al least 12 months from tho date of approval of these accounts. At the time of approving the accounts, the trus188s have a reasonab16 8xpectslion Ihal Ihe charity has adequate resources to continue in operalional existence for the foreseeable future. Thus the trustees cnnlinue to adopt the going concem basts of accounting in preparlng the a¢unts. Fund Accounting Permanent Endowment funds are Inlended to be held in perpetuity. They may be Invested, and the income arising from them made available for the Trusleas to apply al Ihelr dig¢retion in accordance with the charity's objectives. Unrestricted funds are the charity's fre& reserves available for the Tnjstees to dlstribute in accordance with the charivs charitable obiecbves. Investments In accordance with Statement of Recommended Practlce: Accounting and Reporting by Charities, charily-spe¢ifi¢ and listed inveslmenls held as fixed assets are stated at market value on a date ck)sest to the accounting period end, in particular, 31st March 2022, the Iruslees do not consider the value to have changed materially at Ihe year end. Realised and unrealised gains and losses. including the gains and losses on investments h8ld withln the charlly-specrfic funds, are dealt wlh as movements on the Permanent Endowment Fund. Investments are valued at the mid-markel price on the valualion date. Income recognition Investment income is stated an accruals basis. These unsudited finana£l stalemenls have been subjected to independenl examination. S88 wort on page 6. 10
SKELTON BOUNTY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 Expenditure recognition Llabllilies are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity lo th8t expenditure. it Is probable that settlement will be required and the amount of the obligalion can be measured reliably. All expenditure is accounted for on an accruals basls. All expenses, including support costs and governan costs, where applicable, are allocaled or apportioned between activities d6pendSng on the estimated proportion of lime attribulable lo each activity. Support and governance cosls are applied to unrestricted funds unsS specifically included In the restrictions, as specified by the donor. Raising funds relates lo expendilure on the management of the investments. Charitable aclivities includes grant funding, along with associated support costs, to beneficlarles. These are dealt wlh in the Statement of Financial Aclivities when payment has been approved by Ihe charity. Governance costs relate lo compliance wilh conslllullonal and slalutory requiremenls and specifically include all costs incurred by th8 charity in producing the Annual Report. Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposlts held at ¢811 wllh banks, other short-term liquid Inveslmenls with original malurilies of three months or less, and bank overdrafts. Flnan¢lal Instruments The charity has elected to apply the prowslons of Secllon 11 'Basic Flnanclal Instruments, and Section 12 '0ther Finan¢ial Instruments Issues, of FRS 102 to all of Its flnancial Instruments. Flnancial inslnrments are recognised in the charity's balance sheel when the charlly becomes party lo the contractual provisions of the in51rument. Flnanclal assets and liabilities are offset, wlh the net amounts presented in the flnanclal statements, when there is a legally enforceable rlghl lo set off the recognised amounts and there is an intention to settle on a net basls or lo realise th8 asset and s8tt1e Ihe liability simultaneously. Baslc financial assets Basic financial assels, which include debtors and cash and bank balans, are Inltially measured at transaction price induding transaction costs and are subsequenlty carried al amortised cost using the eff8Ctive interest malhtyj unless the arrang8m8nl constitutes a financing transaction, where the Iransaclion is measured 21 the preser¢l value of the future receipts discounted at a markel rate of inter8St. Finan(?al assets dassified as receivablo thin one year are not amortised. Baslc flnanclal Ilabililles Basic financial liabilities, including credilors and bank loans are initially recognis6d at transaction price unless the arrangement nStituteS a finanng transaction, where the debt instrument is measured at the present value of the future recelpts discounted at a markel rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequenlly carried at amortised cost. using the effective interest rale method. These unaudited finanual stalemenls have been sut4.eded lo ind8pendent examiro(ion. Soo report on p8gè 6.
SKELTON BOUNTY NOTES TO THE AccouKfs FOR THE YEAR ENDED 5TH APRIL 2022 Derècognltlon of financlal Ilabllltles Financial liabilities are derecognised whèn the charitys contraclual obligations expire or ar6 discharged or canlled. Taxation The charlty benefits from various exemptions from taxation afforded by lax legislation and is not liable to corporation lax on income or gains falling within Ihose exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts indusive of VAT. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies. the trustees are required lo make ludgoments, eslimates and assumptions about the carrying amount of assets and liabllitios that ara not readlly apparent from other sources. The estimates and associated 8ssumpllons are based on hislorlcal experience and olher factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revIev on an ongolng basls. Revlslons to accounting estimates are recognlsed in the period in which the estimate is revised where the revision affects only that Period, or in Ihe period of the revislon and future periods wher8 the revision affects bolh curr8nt and futu periods. CHARITABLE ACTIVITIES Unrestrl¢t8d UnTaslrl¢t8d 2022 2021 Dirèct charitable expenditure.. Grant funding Grant making adminlstration 99,068 7.158 87,959 7,000 106,226 94,959 Support and govern8n¢e cosls.. Website devek>pmenl Trustee meeting Accountancy Independent examination 612 129 2,045 1,464 3.060 2,000 1,392 4,250 6.452 110,476 101N11 The88 UaUdIted financ3al si8temenls have been Slected lo IndepeIent eK8minallon. See report on page 6, 12
SKELTON BOUNTY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 During the year the following grants to charities were mad8: A 8realh for Llfe Children's Charity Accrington Sea Cadets Activate CES Aighlon Bailey and Chaigley War Memorial Hall ARC Project Blackbum Audacious Foundation Bangladesh Welfare Associatii Blg Help Projèct Blackpool Carers Bridge Community Centre Brllish R8d Cross Cancercare North L8ncashire and South Cumbria Caring Connections Limiled CATS Youth Theatre CEEP Christ Church, Lancaster Community Llves Matter Corn8rslone Church Liverpool Croxtelh and Gillmoss Community Federauon Cruse Bereavement Care Wlrral Oepaul UK Hallon Haven Hospice Happy Days Children's Chariiy Heartbeat NWCC Humans MCR Jlgsaw (Bury) KIND Lancashlre Women L'Arche LGBT Out In The Bay Llverpool Cancer Care Self Help Group Liverpool Lighthouse Liverpool Six Community Association Manchester Cares Mancunian Way Men Too Mersay Counselling and Therapy Centre Merseyside Youth Association Merseyside Youth Challenge Trust Metal Culture Ltd National Youth Advocacy Servlce {NYAS) Norris Green Youth Centre Lld 1,000 1,500 1,500 2,000 1,500 2,000 1.200 1,000 1,500 1,500 1,500 1,234 1,500 1,500 1.000 2,000 1,000 1,000 1,500 2,015 1,050 1,000 1,008 1,000 1,000 1,410 2,000 1,000 2,000 1,000 1,000 1,080 1,200 1,500 1,500 1,000 1,600 1,500 1,000 1,500 1.000 56,797 Th85e unaudited fina[Al5181eM8nl8 have been subjecled lo independenl exami118tion. S88 report on pago 6. 13
SKELTON BOUPtrf NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5Tr1 APRIL 2022 Granls continu8d. Paper Cup Project Park Farm Community Centre Pop Arts RAISE Limi18d Reachout UK R84ish Reuben's Retreat Rlde2Success SARELI {Salford Refijgees Link) Sl Ann's Hospice Sl James in Ihe Cily Sl Joseph's Hospice Sl Mary's Church W8vertree St Nathaniel's Church Tandem Thealre TEAM RISE The Openlng Doors Project The Widows Empowerment Trust Vauxhall Community Law & Informatlon Cèntre Wesl Lancs Scouts Paddk8SPOrt Wigan & Leigh Hospice Wigan Boys & Gids Club Wlrral Hosplce Sl John's Worfd-wkje LSfe Enhancement Facllily 56, 191 1,500 1,476 1,000 1,000 1.035 1,560 2,000 2,000 1,450 2,000 1.000 1,500 1,000 1,000 1,000 1,250 1.090 1,000 1,500 1,000 1,200 1,305 1,500 1,060 88,223 10.845 Other grants 99,068 FIXED ASSET INVESTMENTS 2022 2021 Charlty4peclflc Investments: Mark8t value at 61h April Unrealised gains on inveslment assets 2.989.130 202,902 2,505.917 483.213 Market value at 5th Aprfl 3,192,032 2.989,130 Hlstorlc Cost at 5th Aprfl 939.705 939.705 These unaudited finan81 $lalemenls have be8n subjerled to tndependE¥tI examlnatlon. See report on page 6. 14
SKELTON BOUNTY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 The Charity hokls 43.320/0 (2021: 43.62Yo) of ils fixed asset investments in The Equrties Investment Fund for Charities (Charifund) and The Charities Fixed Interest Common Investment Fund (Charibond) managed by M&G Investments, Charilies Division on behalf of M&G Securities Limited. Al s April 2022 the charity held 79.269 unils of Charifund with a price of 1,579.71 p8nce per unil (2021.. 79,269 uniis with a price of 1,472.41 pence per unit) and 110,680 units of Charibond with a prirA of 118.03 pence per unil (2021.. 110,680 units with a price of 123.52 pen per unit). The rem8ining 56.68Y. {2021: 56.38¥th) of the tharily's fixed asset invéstm6nts are held in COIF Charilies Investment Fund and COIF Charities Fixed Inleresl Fund, consliluent fndS of COIF Charity Funds which are managed by CCLA Investsnenl Management Limiled and registered with the Charily Commission. At 5th April 2022 the ¢harily held 86,386 units of COIF Charities Investment Fund wllh a price of 1,947.35 pence per unil (2021- 86.386 units with a price of 1.792.64 pence per unSt) 8nd 101,409 units, with a price of 125.17 pence per unil, of COIF Charitles Fixed Interest Fund (2021.. 101,409 unlts. vith a price of 134.76 p8nce per unil). DEBTORS 2022 2021 Accrued income £12.592 £12,307 CREDITORS 2022 2021 Admlnlstralion Independent examination f88 9,203 2,316 9,000 1,392 11,519 10,392 FINANCIAL INSTRUMENTS 2022 2021 Carying amount of finanaal assets.. Debt instruments measured al cost Equty instwments measured at fair value through Income and expenditure 172,535 174,744 3.192,032 2.989,130 Carrying amount of financial liabilities". Measured al cost 11.519 10,392 These unaudiled finan81 statamenls have been subiecled lo )dependell1 examinaiion. See report or* page 6. 15
SKELTON BOUNTY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 PERMANENT ENDOWMENT FUNDS These funds are held for the purposes of providing annual income for grant making. UNRESTRICTED FUNDS Investment income received to fund grant payments and costs incurred in the administration of the Charity. 10. ANAL YSIS OF NET ASSETS BETWEEN FUNDS Flxed Assel Investments Current Assets Current Llabllltles Total Unrestrlcled Funds 172,535 {11.5191 161,016 Pemianent Endowment Funds 3.192,032 3,192.032 3,192,032 172.535 (11,519) 3,353,048 RELATED PARTIES No trustee received remuneration or was relmbursed expenses dudng the year12021'. None). No other transactions have been undertaken by or on behalf of the charity in whlch a Truslee or conn8cl8d person has a material interest. These unatjdiled lin8ncial staiements have been subjeued lo iThJependenl examin8bon. See report on page 6. 16
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