|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|6|
|Report ofthe Independent<br>Auditors|7|to|10|
|Statement ofFinancial Activities||||
|Statement ofFinancial Position||12||
|Statement ofCash Flows||||
|Notes to the Statement ofCash Flows||14||
|Notes to the Financial Statements|15|to|25|
|Detailed Statement ofFinancial Activities|26|to|27|





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|Reserve Funds are as follows:||
|---|---|
|Endowment<br>Fund|22,632,651|
|Restricted funds||
|-Prize funds and bequests|167,781|
|Unrestricted<br>funds||
|-Reserve fund|6,322,571|
|-Rest Homes fund|3,626,443|
|-Property<br>repair fund|7239,603|
||39989049|



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|||||||Period|Period|
|---|---|---|---|---|---|---|---|
|||||||8.9.22|2.9.21|
|||||||to|to|
|||||||6.9.23|7.9.22|
||||Unrestricted|Restricted|Endowment|Total|Total|
||||funds|fund|fund|funds|funds|
|||Notes||||||
|INCOME AND||||||||
|ENDOWMENTS|FROM|||||||
|Donations<br>and legacies||2|255,373|23,538||278,911|436,042|
|Other trading activities||3|1,249,918|||1,249,918|1,632,029|
|Investment<br>income||4|337,593|3,727||341,320|285,619|
|Other income|||||||50,000|
|Total|||1 842,1184|27 265||1 $70 149|2403 690|
|EXPENDITURE|ON|||||||
|Raising funds|||33,991|||33,991|33,232|
|Charitable<br>activities||||||||
|Grants payable|||395,329|||395,329|398,801|
|Running<br>costs, HTH Academy||||||||
|management<br>&admin & invest||||||||
|property<br>repairs|||1 249367|768||1 250 135|1 313,350|
|Total|||1 678687|||1679455|1745383|
|Net gains/(losses)<br>investments|on||~327,)20)|~2,096)|1 039047|709831|3 305 375|
|NET||||||||
|INCOME/(EXPENDITURE)|||(162,923)|24,401|1,039,047|900,525|3,963,682|
|RECONCILIATION OF||||||||
|FUNDS||||||||
|Total funds brought<br>forward|||17,351,540|143,380|21,593,604|39,0S8,524|35,124,842|
|TOTAL FUNDS|CARRIED|||||||
|FORWARD|||17 188617|167781|22 632651|399$9049|39088524|





||||||2023|2022|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||funds|fund|fund|funds|funds|
||Notes||||||
|FIXEDASSETS|||||||
|Tangible assets|12|||4,225,000|4,225,000|3,952,581|
|Investments|||||||
|Investments|13|7,696,797|147,484|2,074,260|9,918,541|9,904,649|
|Investment<br>property|14|||20490 000|20 490 000|19170000|
|||7,696,797|147,484|26,789,260|34,633,541|33,027,230|
|CURRENT ASSETS|||||||
|Debtors<br>Cash at bank and in hand|15|272,889<br>9321 5SS|20 297|~4156609)|272,889<br>5 185276|2,889,672<br>3334 743|
|||9,594,477|20,297|(4,156,609)|5,458,165|6,224,415|
|CREDITORS|||||||
|Amounts<br>falling due within one|||||||
|year|16|(102,657)|||(102,657)|(163,121)|
|NET CURRENT ASSETS||9 491,820|20 297|~4156609)|5 355 508|6 061 294|
|TOTAL ASSETSLESS|||||||
|CURRENT LIABILITIES||17,1S8,617|167,781|22,632,651|39,9S9,049|39,088,524|
|NET ASSETS||17 188617|167,781|22,632651|39989049|39088524|
|FUNDS|||||||
|Unrestricted<br>funds|||||17,188,617|17,351,540|
|Restricted funds|||||167,781|143,380|
|Endowment<br>funds|||||22 632651|21 593 604|
|TOTALFUNDS|||||39989049|39088 524|



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|||||Period|Period|
|---|---|---|---|---|---|
|||||8.9.22|2.9.21|
|||||to|to|
|||||6.9.23|7.9.22|
||||Notes|||
|Cash flows from operating|activities|||||
|Cash generated<br>from operations|||1|2,408 276|~2441 889)|
|Net cash provided<br>by/(used|in) operating||activities|2408 276|~2,441,889)|
|Cash flows from investing|activities|||||
|Purchase oftangible fixed assets|||||(38,520)|
|Purchase offixed asset investments||||(1,779,774)|(1,224,943)|
|Purchase ofinvestment<br>property||||(549,735)|(473,014)|
|Sale oftangible fixed assets|||||5,050,000|
|Sale offixed asset investments||||1,016,084|1,420,214|
|Sale ofinvestment<br>property||||92,500||
|Interest received||||41,189|2,779|
|Dividends<br>received||||300 129|282 840|
|Net cash (used in)/provided|by investing||activities|~879607)|5,019356|
|Change in cash and cash equivalents||in||||
|the reporting<br>period||||1,528,674|2,577,467|
|Cash and cash equivalents|at the|||||
|beginning<br>ofthe reporting|period|||4 894 060|2316593|
|Cash and cash equivalents|at the end|of||||
|the reporting<br>period||||6422 732|4894060|





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|RECONCILIATIO<br>ACTIVITIES|N<br>OFN|ET INCOME TO NET CASH FLOW FROM|OPERATING||
|---|---|---|---|---|
||||Period|Period|
||||8.9.22|2.9,21|
||||to|to|
||||6.9.23|7.9.22|
|Net income for the|reporting|period (as per the Statement ofFinancial|||
|Activities)|||900,525|3,963,682|
|Adjustments<br>for:|||||
|Depreciation<br>charges|||2,581|2,582|
|Gain on investments|||(709,831)|(3,610,676)|
|Interest received|||(41,189)|(2,779)|
|Dividends<br>received|||(300,129)|(282,840)|
|Decrease/(increase)<br>(Decrease)/increase|in debtors<br>in creditors||2,616,783<br>~60 464|(2,531,236)<br>19378|
|Net cash provided|by/(used|in) operations|2408 276|~2,441 889)|



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|ANALYSIS OF CHAN|GES IN NET FUNDS||||
|---|---|---|---|---|
|||At 8.9.22|Cash flow|At 6.9.23|
|Net cash|||||
|Cash at bank and in hand||3,334,743|1,850,533|5,185,276|
|Investments —designated|bank deposits|1 559317|~321 863|1.237457|
|||4 894060|1,528670|6 422 732|
|Total||4 894060|1 528670|6 422732|





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|DONATIONS<br>AND LE|GACIES|||
|---|---|---|---|
|||Period|Period|
|||8.9.22|2.9.21|
|||to|to|
|||6.9.23|7.9.22|
|Donations||23,693|387|
|Grants||255,218|435 655|
|||278431|436642|
|Grants received, included|in the above, are as follows:|||
|||Period|Period|
|||8.9.22|2.9.21|
|||to|to|
|||6.9.23|7.9.22|
|Grant||255 218|435 655|





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|3.|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|||
|---|---|---|---|---|---|
|||||Period|Period|
|||||8.9.22|2.9.21|
|||||to|to|
|||||6.9.23|7.9.22|
||Rental income|||1,249918|1 632 029|
|4.|INVESTMENT INCOME|||||
|||||Period|Period|
|||||8.9.22|2.9.21|
|||||to|to|
|||||6.9.23|7.9.22|
||Income &om quoted investments|||300,135|282,840|
||Bank and other deposit interest|||41 185|2779|
|||||341 320|285619|
|5.|RAISING|FUNDS||||
||Investmeut|management|costs|||
|||||Period|Period|
|||||8.9.22|2.9.21|
|||||to|to|
|||||6.9.23|7.9.22|
||Portfolio management|||~33 991|33232|
|6.|CHARITABLE ACTIVITIES COSTS|||||
||||||Grant|
||||||funding of|
||||||activities|
||||||(see note|
||||||7)|
||Grants payable||||395329|





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||||||||Period|Period|
|---|---|---|---|---|---|---|---|---|
||||||||8.9.22|2.9.21|
||||||||to|to|
||||||||6.9.23|7.9.22|
||Grants payable||||||395 329|398 801|
||The total|grants paid to|institutions||during the period was as follows:||||
||||||||Period|Period|
||||||||8.9.22|2.9.21|
||||||||to|to|
||||||||6.9.23|7.9.22|
||Grants to|institutions|||||500|500|
|8.|SUPPORT COSTS||||||||
||||||||Governance||
||||||Management|Other|costs|Totals|
||Other resources expended||||1 234 116|2 582|13432|1 250 135|
|9.|AUDITORS' REMUNERATION||||||||
||||||||Period|Period|
||||||||8.9.22|2.9.21|
||||||||to|to|
||||||||6.9.23|7.9.22|
||Fees payable to the charity's|||auditors for the audit ofthe charity's||financial|||
||statements||||||13,311|13,907|
||Auditors'|remuneration|for|non audit work|||126|120|



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|||2023|2022|
|---|---|---|---|
|Wages|and salaries|823,417|765,750|
|Social|security costs|70,449|65,577|
|Other|pension costs|65 679|61 960|
|||959545|893 2$6|



|The number ofemployees|The number ofemployees|whose|emoluments,|emoluments,|excluding|pension|contributions,|fell within the|following<br>ranges:|
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023|2022|
|165,000tof75,000||||||||1|1|
|The average monthly|number of||employees|during the period was as follows:||||||
|||||||||Period|Period|
|||||||||8.9.22|2.9.21|
|||||||||to|to|
|||||||||6.9.23|7.9.22|
|Rest homes||||||||4|4|
|Support staff||||||||34|28|
|||||||||38|32|
|TANGIBLE FIXED|ASSETS|||||||||
|||||||||W.W.||
||||||Fixtures|||adventure||
||||Freehold||and|||centre||
||||property||fittings||Pontoons|equipment|Totals|
|COST||||||||||
|At 8 September 2022|||3,950,000||125,458||27,063|43,585|4,146,106|
|Revaluations|||275 000||||||275 000|
|At 6 September 2023|||4225000||12545827063|||43585|4421106|
|DEPRECIATION||||||||||
|At 8 September 2022|||||125,458||27,063|41,004|193,525|
|Charge for year||||||||2 5$1|2581|
|At 6 September 2023|||||125|458|27 063|43 585|196106|
|NET BOOKVALUE||||||||||
|At 6 September 2023|||4225 000||||||4225 000|
|At 7September 2022|||3950000|||||2 581|3 952581|



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|13.|FIXEDASSETINVESTMENTS|FIXEDASSETINVESTMENTS||||
|---|---|---|---|---|---|
|||||Cash and||
||||Listed|settlements||
||||investments|pending|Totals|
||MARKET VALUE|||||
||At 8 September|2022|8,345,332|1,559,317|9,904,649|
||Additions||1,777,679|71,856|1,849,535|
||Disposals<br>Revaluations||(1,054,545)<br>~387,378)|(393,720)|(1,448,265)<br>~387 37&)|
||At 6 September|2023|8681088|1 237,453|9918,541|
||NKT BOOK VALUE|||||
||At 6 September|2023|8 681088|1237 453|9918541|
||At 7 September|2022|8 345332|1 559317|9,904649|
||Regional Breakdown|||||
||Extraordinary|Repair Fund||||
||UK||||45%|
||North America||||25%|
||Europe||||10%|
||Other||||8%|
||Japan||||2%|
||Rest ofthe World||||10%|
||Endowment<br>Fund|||||
||UK||||48%|
||North America||||25%|
||Europe||||8%|
||Other||||8%|
||Japan||||2%|
||Rest ofthe World||||10%|
||Reserve Fund|||||
||UK||||47%|
||North America||||25%|
||Europe||||9%|
||Other||||8%|
||Japan||||2%|
||Rest ofthe World||||9%|





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|14.|INVESTMENT|PROPERTY|||||
|---|---|---|---|---|---|---|
||FAIR VALUE||||||
||At 8 September|2022||||19,170,000|
||Additions|||||549,735|
||Disposals|||||(92,500)|
||Revaluation|||||$62 765|
||At 6 September|2023||||20,490 000|
||NET BOOKVALUE||||||
||At 6 September|2023||||20,490 000|
||At 7 September|2022||||19170000|
|15.|DEBTORS:AMOUNTS FALLING DUK %'ITHIN ONK YEAR||||||
||||||2023|2022|
||Trade debtors||||189,165|19,448|
||Other debtors||||15,547|2,533,955|
||VAT||||6,070|17,469|
||Accrued income|||||255,300|
||Prep ayments||||62 107|63 500|
||||||272 $$9|2,889672|
|16.|CREDITORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
||||||2023|2022|
||Trade creditors||||74,741|128,296|
||Other creditors||||27916|34825|
||||||102657|163 121|
|17.|MOVKMKNT|IN FUNDS|||||
||||||Net||
||||||movement|At|
|||||At 8.9.22|in funds|6.9.23|
||Unrestricted<br>funds||||||
||Reserve fund||17,351,540||(162,923)|17,188,617|
||Restricted funds||||||
||Prize funds and|bequests||143,380|24,401|167,781|
||Endowment<br>funds||||||
||Endowment<br>fund||21,593,604||1,039,047|22,632,651|
||TOTAL FUNDS||39|088524|900 525|399$9049|





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|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|Reserve fund||1,S42,884|(1,678,687)|(327,120)|(162,923)|
|Restricted funds||||||
|Prize funds and bequests||27,265|(768)|(2,096)|24,401|
|Endowment|funds|||||
|Endowment|fund|||1,039,047|1,039,047|
|TOTAL FUNDS||1 870 149|~1679455)|709 831|900525|



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||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 2.9.21|in funds|7.9,22|
||||K||
|Unrestricted|funds||||
|Reserve fund||17,074,97S|276,562|17,351,540|
|Restricted funds|||||
|Prize funds and bequests||145,995|(2,615)|143,3SO|
|Endowment|funds||||
|Endowment|fund|17,903,869|3,689,735|21,593,604|
|TOTAL FUNDS||35 124 842|3963682|39088 524|





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||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
|Unrestricted<br>funds|||||
|Reserve fund|2,400,237|(1,745,383)|(378,292)|276,562|
|Restricted funds|||||
|Prize funds and bequests|3,453||(6,06&)|(2,615)|
|Endowment<br>funds|||||
|Endowment<br>fund|||3,689,735|3,689,735|
|TOTAL FUNDS|2,403690|~1,745 3&3)|3,305,375|3963682|
||Tangible fixed||Net current||
||assets|Investments|assets|Total|
|Endowment<br>fund|8,400,000|16,896,368|(7,899,320)|17,397,048|
|Restricted funds|||||
|Prize funds and bequests||123,015||123,015|
|Unrestricted<br>funds|||||
|Reserve fund|2,051|2,524,335|3,555,865|6,082,251|
|Rest home funds||1,758,842|1,455,741|3,214,583|
|Property repair funds||3 548 115|3233 301|6 781417|
||8402051|24850675|345587|33598314 .|



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||||Period|Period|
|---|---|---|---|---|
||||8.9.22|2.9.21|
||||to|to|
||||6.9.23|7,9.22|
|INCOME AND ENDOWMENTS|||||
|Donations and legacies|||||
|Donations|||23,693|387|
|Grants|||255 218|435,655|
||||278,911|436,042|
|Other trading activities|||||
|Rental income|||1,249,918|1,632,029|
|Investment<br>income|||||
|Income &om quoted investments|||300,135|282,840|
|Bank and other deposit|interest||41 185|2 779|
||||341,320|285,619|
|Other income|||||
|Gain on sale oftangible||fixed assets||50000|
|Total incoming resources|||1,870,149|2,403,690|
|EXPENDITURE|||||
|Investment<br>management||costs|||
|Portfolio management|||33,991|33,232|
|Charitable<br>activities|||||
|Grants to institutions|||500|500|
|Grants to individuals|||394,829|398301|
||||395,329|398,801|
|Support costs|||||
|Management|||||
|Investment<br>property|repairs and expenses||656,491|704,639|
|Running<br>costs - almshouses|||79,191|102,590|
|Trinity House Academy|||2,178|8,759|
|Support costs|||496,256|480,753|
||||1,234,116|1,296,741|
|Other|||||
|Computer<br>equipment|||2,582|2,582|





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|||||||Period|Period|Period|
|---|---|---|---|---|---|---|---|---|
|||||||8.9.22||2.9.21|
||||||||to|to|
|||||||6.9.23||7.9.22|
|||||||||K|
|Other|||||||||
|Governance||costs|||||||
|Auditors'|remuneration||||||13,311|13,907|
|Auditors'|remuneration|||for non audit work|||126|120|
||||||||13,437|14,027|
|Total resources||expended||||3|679455|3 745383|
|Net income|before gains||||and losses||190,694|658,307|
|Realised recognised<br>Realised gains/(losses)|||gains and losses<br>on fixed asset investments||||709 833|~20625)|
|Net income|||||||900 525|637 682|