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|Solicitor:|Wedlake Bell, 16 Bedford Street, Covent Garden, London WC2E 9HE|
|---|---|
|Independent Examiner:|Kerry Gallagher, FCA DChA of RSM UK Tax and Accounting Limited,|
||Davidson House, Forbury Square, Reading, Berkshire RGl 3EU|
|Bankers:|Lloyds TSB Bank pic, South Kensington Branch,|
||67/69 Old Brampton Road, London SW5 9HZ|
|Investment Manager:|Investec Wealth & Investment, Unit 4, The Billings,|
||3 Walnut Tree Close, Guildford, Surrey GUl 4UL|
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|||**Unrestricted Funds**|**Unrestricted Funds**|
|---|---|---|---|
|||**2022**|**2021**|
||**Notes**|£|£|
|**INCOME FROM:**||||
|Investments|2|62,096|70,931|
|**TOTAL**||62,096|70,931|
|**EXPENDITURE ON:**||||
|**Raising funds**||||
|Investment management costs|3|(43,639)|(41,404)|
|**Charitable activities**||||
|Grant giving|4|(73,646)|(94,193)|
|**TOTAL**||(117,285)|(135,597)|
|Net gains on investments|7|238,452|783,139|
|**NET INCOME AND NET MOVEMENT IN FUNDS**||183,263|718,473|
|**RECONCILIATION OF FUNDS**||||
|Fund balances brought forward at 6 April 2021||4,141,878|3,423,405|
|**FUND BALANCES CARRIED FORWARD**||||
|**AT 5 APRIL 2022**|9|4,325,141|4,141,878|
||||--------
--------|
|||**2022**|**2021**|
|---|---|---|---|
||**Notes**|£|£|
|**FIXED ASSETS**||||
|Investments|7|4,144,368|3,898,287|
|**CURRENT ASSETS**||||
|Cash at bank and in hand||187,313|247,131|
|**LIABILITIES**||||
|Creditors: Amounts falling due within one year|8|(6,540)|(3,540)|
|**NET CURRENT ASSETS**||180,773|243,591|
|**TOTAL ASSETS LESS CURRENT LIABILITIES & NET ASSETS**||4,325,141|4,141,878|
|||========|`========`|
|**THE FUNDS OF THE CHARITY**||||
|**Unrestricted income funds**||||
|General Fund|9|4,325,141|4,141,878|
|**TOTAL CHARITY FUNDS**||4,325,141|4,141,878|
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|2.|**INVESTMENTS**|**Unrestricted **|**Funds**|
|---|---|---|---|
|||**2022**|**2021**|
|||£|£|
||Income from investments listed on a recognised|||
||stock exchange|62,096|70,931|
|||`=======`||
##
|3.|**INVESTMENT MANAGEMENT COSTS**|**Unrestricted Funds**|**Unrestricted Funds**|
|---|---|---|---|
|||**2022**|**2021**|
|||£|£|
||Costs of maintaining investment property|341|4,497|
||Investment management charges|43,298|36,907|
|||43,639|41,404|
|||------|------|
|4.|**GRANT GIVING**|**Unrestricted Funds**||
|||**2022**|**2021**|
|||£|£|
||Grants made to institutions:|||
||In support of the aged and the poor|13,800|21,700|
||In support of education and children|36,009|50,585|
||In support of religion|9,500|6,400|
||In support of prisoners and captives|10,000|11,294|
|||69,309|89,979|
||Governance costs (see note 5)|4,337|4,214|
|||73,646|94,193|
||||-------
-------|
||Grants of between £500 and £10,000 were made to 105 institutions (2020/2021: grants of|Grants of between £500 and £10,000 were made to 105 institutions (2020/2021: grants of|Grants of between £500 and £10,000 were made to 105 institutions (2020/2021: grants of|
|---|---|---|---|
||between £300 and £10,000 were made to 147 institutions) in support of general charitable|||
||purposes within the objectives of The Sydney Black Charitable Trust.|||
|5.|**GOVERNANCE COSTS**|**Unrestricted Funds**||
|||**2022**|**2021**|
|||£|£|
||Independent examiner's fee|3,798|3,540|
||Other operating expenses of the charity|539|674|
|||4,337|4,214|
|7.|**INVESTMENTS**|**Investments listed**|**Long leasehold**|||
|---|---|---|---|---|---|
|||**on a recognised**|**investment**|**Total**|**Total**|
|||**stock exchange**|**property**|**2022**|**2021**|
|||£|£|£|£|
||Market value as at|||||
||6 April 2021|3,618,287|280,000|3,898,287|3,137,204|
||Additions at cost|1,007,690|20,400|1,028,090|697,458|
||Disposal proceeds|(1,020,461)||(1,020,461)|(719,514)|
||Realised gains|68,969||68,969|83,573|
||Unrealised gains|164,883|4,600|169,483|699,566|
||Market value as at|||||
||5 April 2022|3,839,368|305,000|4,144,368|3,898,287|
|||`-------------------------`|||--------|
|||`-------------------------`|||--------|
||Historical cost as at|||||
||5 April 2022|3,162,526|128,297|3,290,823|3,040,944|
|||`-------------------------`
`-------------------------`||--------
--------|--------
--------|
|7.|**INVESTMENTS** (Continued)|||
|---|---|---|---|
||At the balance sheet date, the market value of the|**2022**|**2021**|
||charity's listed investment portfolio comprised:|||
||UK investments|1,168,453|1,330,759|
||Overseas investments|2,670,915|2,287,528|
|||3,839,368|3,618,287|
||Fixed income securities|540,400|578,315|
||Equities|2,524,617|2,311,395|
||Unit trust funds and other similar securities|774,351|728,577|
|||3,839,368|3,618,287|
|||--------
--------|--------
--------|
||market value of the listed investment portfolio:|||
|---|---|---|---|
|||**2022**|**2021**|
||Artemis Fund Managers US Select Income units|293,675|264,985|
||Blackrock Financial Management European Dynamic Income|80,724|187,439|
||Vanguard Funds S&P 500 units|105,554|197,636|
|||-------|-------|
|||-------|-------|
|8.|**CREDITORS**|**2022**|**2021**|
|||£|£|
||Amounts falling due within one year:|||
||Accruals|6,540|3,540|
##
||**Balance at**||||**Balance at**|
|---|---|---|---|---|---|
||**6 April**|||**Gains on**|**5 April**|
||**2021**|**Income**|**Expenditure**|**investments**|**2022**|
||£|£|£|£|£|
|**Unrestricted income**||||||
|**funds:**||||||
|General Fund|4,141,878|62,096|(117,285)|238,452|4,325,141|
||--------|-------|-------|-------|--------|
||--------|-------|-------|-------|--------|
||**Balance at**||||**Balance at**|
||**6April**|||**Gains on**|**5 April**|
||**2020**|**Income**|**Expenditure**|**investments**|**2021**|
||£|£|£|£|£|
|**Unrestricted income**||||||
|**funds:**||||||
|General Fund|3,423,405|70,931|(135,597)|783,139|4,141,878|
||`========`|||||