CLARKE'S & MARSHALL'S CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED ST 31 MARCH 2024 Percy Westhead & Company Chartered Accountants And Statutory Auditors Hanover House 30-32 Charlotte Street Man¢hester M14FD
CLARKE'S & MARSHALL'S CHARITIES CONTENTS PAGE Officers and Professional Advisers Trustees, Report Auditor's Report Statement of Financial Activities Balance Sheet Notes to the Financial Slalements 10-15 The following pages do not fonn part of the Accounts... Investment Schedule 16-20
CLARKE'S AND MARSHALL'S CHARITIES OFFICERS AND PROFESSIONAL ADVISERS Founded by: George Marshall George Clarke Trustees acting during the year ended 31•1 March 2024 Peler Richard Higham {Chairman) Charles David Oakes Alfred Henry Marinus Stone Roderick Michael Withinshaw (Hon. Treasurer) Giles Hugh Joynson Gaddum Peter Anthony Nicholas Somekh Kathryn Ann Graham (Hon. Secretary) James Chrislian Patrick Bailey John George McDakin Simpson Kale Victoria Lawlor Jeremy Charles Steele 1624 1636 Address: 2 Brindle Heights Brindle Chorley Lancashire PR6 8YA Bankers: Virgin Money 6 Bridge Streèt St Helens WA10 1NF Investment Managers: Rathbones Incorporating Investec Wealth and Investment (UK) 2 Floor 3 Hardman Street Spinningfields Manchester, M3 3HF Auditor: Percy Westhead & Company Chartered Accounlants and Statutory Auditors Hanover House 30-32 Charlotte Street Manchester, M14FD Charitable Ststus: Registered Charity Number 220728
CLARKE'S AND MARSHALL'S CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 3181 MARCH 2024 Constitution The Charities were founded by George Marshall and George Clarke in 1624 and 1636 respectively. A renewed Trust Deed was effected on 301h March 1932 and the Charities are registered with the Charity Commission, Number 220728. As the Charities have common trustees and objectives, the Charity Commission has directed that they be treated and adminislered as a single Charity. The Charities, address is shown on page 1. Objectives and activities for the public beneftt The purpose of the Charities is the support of the needy in the Manchester area through making grants to appropriate individuals and institutions. The Trustees confirm that Ihey have referred lo the Charity Commission's guidance on public benefit when reviewing the Charities, aims and objectives, in planning future activities, and setting the grant making policy for the year. As in previous years the Charities further their charitable purposes by managing and receiving income from their Investments and other Assets and, from the income, making an annual contribution lo the Manchester Relief in Need Charity in accordance with the Charity Commission Scheme dated 18 November 1974. Trustees and Organlsation The Trustees determine the general direction and policies of the Charities at annu81 meetings. These policies are implemented on a day to day basis by the chairman, the treasurer and the secretary, in conjunction with the investment advisers and discussion with the other Trustees as appropriate. Delails of the Trustees acling during the period are shown on page 1. New Trustees may be appointed by the current Trustees. Flnances and Activlty Details of the result5 and the Charities, slate of affairs are shown on pages 8 and 9 of the Accounls. The Trustees consider these lo be satisfactory and consider that the Gharities have adequate resources to enable them to continue to meet their objectives. Income Fund Investment and other income increased compared to the previous period and amounted to £73,997 (2023.. £69,619). In furtherance of their objectives, the Charities made a contribution of £57,500 to the Manchester Relief in Need Charity {2023'. £57,500) which greatly assisted Ihat Charity in carrying out its work. At the year- end there was a surplus of income, and after taking into account unrealised losses arising from the revaluation of investments, the accumulated balance on Income Fund increased from £183,696 to £194,820. Of this balance, the sum of £73.001 represenls unrealised gains on the revaluation of investments (2023.. £74,534)- Capital Fund Investment management costs increased in the year to £9,340 {2023'. £6,501), there were realised losses on disposal of £558 in the year and unrealised losses on revaluation were £13,054. As a result of this, the balance on Capital Fund at 31 st March 2024 decreased to £1,317.402 {2023'. £1,340,353) Of Ihis bal8n¢e, the sum of £592,389 represents unrealised gains on the revaluation of investmenls {2023.- £630,365).
CLARKE'S AND MARSHALL'S CHARITIES ST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 {Continued) Investments Investment Policy Under the terms of the Charities, constitution, the Trustees have unrestricted powers of investment. In exercising these powers, the Trustees seek to achieve a balanced return to produce income to meet the annual contribution lo the Manchester Relief in Need Charity, whilsl at the same time achieving long temi capital growth to maintain the real value of the underlying funds. The investment portfolio returned a positive performance for the twelve months to March. Global equity indices rallied over the period with fixed income continuing to underperform cash. Global growth turned out lo be more resilient than anticipated, especially in the United States. The much-discussed US recession did not materialise in 2023 and appears not to be happening in 2024. Both the UK and Germany have suffered consecutive quarters of shrinking GDP, thus entering technical recessions, however the downturns in both countries have been marginal. Moving forward inflation will be a key determinant of short-temi outcomes for the economy and the market, it will define central bank policy. We believe that central banks remain alert to the risk of additional inflation but they are hinting that they will support economic slability if a choice has to be made. We continue to maintain a qualty bias in our inveslments, especially in terms of balance sheet strength and a¢S to liquidity. Transactlons There have been a number of investment changes during the period as detailed on the investment schedule, with a net decrease in monies invested of £2,963. The Charities have continued to retain some liquid funds to enable Ihem to take advantage of possible investment opportunities. The total value of investments at 3181 March 2024 was £1,441,311 {2023.' £1.459.419). Details regarding investments are shown in Note 7 to the Accounls and in the detailed investment schedule on pages 16 to 20. Reserves Pollcy Income Fund As indicated in the notes to the accounts, the Charities, policy is to distribute the clear yearly income to the Manchester Relief in Need Charity. A5 a result of events in previous years, a balance has been accumulatsd on Income Fund and this is gradually being utilised to increase the annual payments to the above mentioned Charity. Capital Fund It is the policy of the Charities to retsin this Fund and the underlying investments, in order to provide a ontinuing source of income to enable the objective of making annual payments as outlined above to be continued in the future. Rlsk Management The Trustees review the major risks that the Charities face on a regular basis. The Trustees are satisfied that such risks are understo¢xl and systems are in place to ensure Ihal these will not affect the Charities, ability to continue their activities in the future. Trustees Responslbllities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi).
CLARKE'S AND MARSHALL'S CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 318T MARCH 2024 (Contlnued) The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a Irue and fair view of the state of affairs of the Charities and of the incoming resour¢es and application of resources of the Charities for that period. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgments and estimates that are reasonable and prudent. state whether applicable accounting slandards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charities will continue in business. The Truslees are responsible for keeping proper accounting records thal disclose with reasonable accuracy at any time the financial position of the Charities and enable them to ensure that Ihe financial slalemenls comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assels of the Charities and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the Trustees and signed on their behaW. K. A. Graham (Hon Secretary) Date
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES Opinion We have audited the financial statements of Clarke's and Marshall's Charities (the °Charities') for the year ended 31. March 2024 which ¢omprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their préparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statemenls.. give a true and fair view of the state of the Charities, affairs as at 31d March 2024 and of its income and expenditure for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducled our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audito¢s responsibilities for the audTrt of the financial slalements section of our report. We are independent of the Charities in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Slandard, and the provisions available for small entities, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Conclusions relatlng to golng concern In audlting the financial statemenls, we have concluded that the trustees, use of the going conrn basi5 of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relaling to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going COnM are described in the relevant sections of this report. other Infomiation The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditorfs report thereon. The truslees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES {Continuedl Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the trustees, report is inconsistent in any material respect with the financial statements., or sufficient accounting records have not been kept- the financial statements are not in agreement with the accounting records and returns.. or we have not obtained all the information and explanations necessary for the purposes of our audit. Responsibilities of the trustees As explained more fully in the trustees. responsibilities statemenl, the trustees are responsible for the preparation of the financial statemenls and for being satisfied that they give a true and fair view, and for Such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misslatement, whether due to fraud or error. In preparing the financial slatements, the trustees are responsible for assessing the Charities, ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going conrn basis of accounting unless the trustees either intend to liquidate the Charities or to cease operations. or have no realistic alternative but to do so. Our responsibilities forthe audit of the financlal statements We have been appointed as auditor under section 145 of the Charities Ad 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditols report that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance wtth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detecl material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
CLARKE'S AND MARSHALL'S CHARITIES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CLARKE'S AND MARSHALL'S CHARITIES (Continued) We identified areas of laws and regulations, relevantlo charities of this size, that could reasonably be expected to have a material effect on the financial statements from discussions with the trustees and key personn81. We communicated identified laws and regulations to our audit team and remained alert to any indications of non-compliance with laws and regulations. The Charities are subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedure5 on the relaled financial Statement item5. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected som6 material misstatements in the financial statements, as these may for example involve fraud or override of internal controls and we are not responsible for preventing non-compliance. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: Iwww.frc.org.uklauditorsresponsibilitiesl. This descriptson forms part of our auditorfs report. Use of our report This report is made solety to the Charities, trustees, as a body, in accordan Part 4 of the Charities (Accounls and Reports) Regulations 2008. Our audtt work has been undertaken so that we might stste to the Charities, trL*slee5 those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charities, trustees as a body, for our audit work. for this report, or for the opinions we have formed. Percy Westhead & Company Chartered Accountants and Ststutory Auditors Hanover House 30-32 Charlotte Street Manchester M14FD Date.. 11 I l. lolY- Percy Westhead & Company is eligible for appointrnent as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
CLARKE'S AND MARSHALL'S CHARITIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31ST MARCH 2024 Income Fund 2024 Capital Fund 2024 Total Funds 2024 Total Funds 2023 Notes INCOME AND ENDOWMENTS Investment incorne 73,9%.99 73,996.99 69,619 TOTAL INCOME 73,996.99 73,996.99 69,619 EXPENDITURE Costs of ralslng funds Investment management costs 9,339.87 9,339.87 6,501 Expenditure on charitable activities Grant making 61,340.00 61,340.00 61,220 TOTAL EXPENDITURE 61,340.00 9,339.87 70,679.87 67,721 NET INCOMEIIEXPENDITUREI BEFORE GAINS AND LOSSES ON INVESTMENTS 12,656.99 19,339_871 3,317.12 1,898 GAINSILOSSES ON INVESTMENTS Realised gainslllossesl on investments Unrealised gainslllossesl on investments 1558.141 113,053.521 {558.14} 114,586.52) 14371 1144,526} {1,533.001 NET MOVEMENT IN FUNDS 11,123.99 122.951.53} {11,827.541 1143,(E5) R¢conciliation of Funds Fund Balan5 brought forward 183,695.79 1,340,353.36 1.524.049.15 1,667,114 FUND BALANCES CARRIED FORWARD 10 £194,819,78 £1,317,401.83 £1.512,221.61 £1,524,049 The notes on pages 10 to 15 form part of these Accounts.
CLARKE'S AND MARSHALL'S CHARITIES BALANCE SHEET AS AT 31ST MARCH 2024 Income Fund 2024 Capital Fund 2024 Total Funds 2024 Total Funds 023 NotOS FIXED ASSETS Investments 82,429 00 1,358,882.00 1,441,311.00 1,459,419 Totsl Fixed Assets 82.429.00 1,358,882.00 1,441,311 00 1,459,419 CURRENT ASSETS Debtors Cash at bank and in hand 11,583.42 104,647.36 11,$83.42 63,167.19 677 67,673 141.480.171 Totsl Current Assets 116.230.78 141.480.171 74,750.61 68,350 LIABILITIES Creditors falling due wrthin one year 3,840.00 3,840.00 3,720 NET CURRENT ASSETS 112,390.78 141.480.171 70,910.61 64,630 NET ASSETS £194,819 78 £1,317,401 83 £1,512,221.61 £1,524,049 THE FUNDS OF THE CHARITIES Capital Funds General capital fund Revaluation capital fund Unrestricted Income Funds General income fund Revaluation income fund 725.012.78 592.389 05 725,012 78 592,389.05 709.988 630,365 121.818.70 73,001.08 121,818.70 73.001.08 109,162 74,534 TOTAL CHARITIES FUNDS £194.819 78 £1,317,40183 £1,512,221.61 £1,524,049 The financial statements on pages 8 10 15 wefe approved by the Trustees and signed on their behalf by the undermenlioned Trustees on 5t I P. R. Higham ICh8irmanl R. M. Wf(hinshaw iron Treasurer) K. A. Graham IHon. Secretary) The notes on pages 10 10 15 fom part of these Accounts.
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 1 ACCOUNTING POLICIES lal Basis of A¢¢ounting The financial st*ements have been prepared undèr the historical cost convention with items COgniSed al cosl or transaction value unles$ otheiSe st81ed in the relevant notelsl to these accounts. The finanaal staternerils have been ppared in a¢cordance with thè Staternenl of Recornmended Practice.. Accounting and Reporting by Charities preparing their accoLsnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingijom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charities constitute a public benefit entity as defined by FRS 102. The Iruslees consider that there are no material uncertainties about the Charities, ability to continue as a going con¢em. With respèct to the next reporting per¥od. 2024-25, the most significant areas of uncertainty Ihal affect thè carying value of assets held by the Trust are the level of investment return and the perfomance of investment markets Ise& the investment policy and perfomiance and risk management section5 Of the Iruslees, 8nnual report for more informalionl. Ibl Fund Aeeounting The Capital Fund is an expendable endowment fund. The in¢ome from this fund is unreslrided and available lor use al the discretion of the Trustees in furtherance of the 96neral objectives of the Charities. Unrestricted income funds cornprise those funds whi¢h the trustees are free to uso for any purpose in furtherance of the chaiilable objec15. Unrèstricted funds include de3ignaled funds where the trustees, al their discretion, have created a fund for a specific purpose. 1¢) Flxod Asset Investments Investments are a fomi of basic financial insliumÈnt and are initially recognised at their transaction value and subsequently measured at thèir lair value as at the balanc sheet dale using the closing qvoted market pricé. The 3talement of fin8n¢ial aclivilie5 indudes the nel gains and losses arising on revaluation and disposals throughout thg year. The Charities do not acquiw put options, derivatives OT other complex financial instruments. All gains and losses 8ie takon to the Slalement of Financial Aclivilies as they arlse. Realised gain5 and losses on investments are ealculated as the difference belween sales proceeds and their opaning carying value or their pur¢hase value if a¢quired subsequent to the first day of the financial year. Unrealised gain5 and losses are c8l¢ulated as the difference between the faiT value at the year end and their carrying value. Idl Investment Income and Int•r&st Receiv¥bl• Income from investments is recognis8d in the Acix)unts at the dale when it becomes payable. This policy represents a departUTe from recommènded accounting princAples which require income to be recognised in the accounts on an a¢cruals basis. In the circurnslances ol these Charities, the Ttuslees consider if inappropriats lo recognise this in¢ome until the datè when this is due to be received. Following the abolition of Advance Corporation Tax and in accordance with recommènded accourtb.ng practice, dividends from UK Companies and Unit Trusts are stated net. Other investmènt income is stated gross. Income from Chief and Ground Rents and bank interest receivable 1$ accounted for on the accruals basis and is $18ted gross. 10-
CLARKE'S AND hlARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 (•) Expendituyg r•¢ognition Liabiif(les are recognised as expenditure as soon as there is a legal or constructive obligation cornmitting the ¢tharilies lo that expenditure, il is probable that settlement wlll be required and the amount of ihe obligation can be measured r•liably. All expenditure is aceounled tor on an accruals basis. All expenses including support costs and governanee $15 are allocated or 8PPOrtioned to the applicable expènditure headings. For mofe information on thi8 attribution refer to note (gl below. ID Allocatlon of support and governance costs Support costs have been allocated lo other support ¢osts. Governance ¢osls cornprise all costs involving the public accountability of the charities and their compliance with regulation and good practice. These costs include costs related to slalutory audit together with an apportionment of ovèrhead and support Sts. Govemance costs support costs relating to charitable activities havo been apportioned based on the number of individual grant awards mada in recognition that the administrative ¢08ts of awarding. monitoring and assessing grants are broadly equivalent. The allocation of support and govemance costs is anatysed in note 5. Igl Costs of raising funds The costs of geneTab'ng fvnds consist of inStMent managemgnl $ts and any legal fees. Ihl Charftabl8 a¢tivitits Costs of charitable actlvities indude grants made, govemance ¢osts and an apportionment of support wsls as shown 2. TRUSTEES, FEES The trusteas all give freely thèir lime and expertise without any form of rernuneration or other benefit in cash or kind12023'. £nil}. No expenses hav8 been paid to thè trustees in the year12023'. £nill. 3 INVESTMENT INCOME 2023 Income from investrnents Interest on cash d6posIIs Chief and Ground Rents receivable 73.110.32 712.17 174.50 69,313 132 174 73.996.99 69,619 11
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 4 INVESTMENT MANAGEMENT COSTS 2024 2023 Inveslrnenl managemént fees 9.339 87 6.501 9,339.87 6.501 In 2024, 811 £9,339.8712023.' £6,501) of investrnent management costs were attributable to Capital funds ALLOCATION OF GOVERNANCE AND SUPPORT COSTS The breakdown of support C0515 and governancè cos15 are shown below. Apportionment is solely to grant making expenditure as the sole activity. 2024 023 Support costs Bank charges 2024 2023 Govèmance co¥ts: Auditorfs remuneration 3,840.00 3,720 3.840.0 3.720 2024 2023 Allocation of governanc8 and othor support Costs: Grant rnaking 3,840.00 3,720 3,840.00 3,720 The trustees have decided lo meet all g0Veman costs from unrestricted funds and so no alloc81ion or charge is made to restricted funds for any goveman¢e related costs. The auditorfs ramunaration constitultrd an audit fee of £3,84012023'. £3,720). 12-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST klARCH 2024 ANALYSIS OF CHARITABLE EXPENDITURE The charities undertake their charitable activities through grant making and awarded grants in furtherance of their charitable activities. Support and Grnntfunded governan¢o tivi Total 202 Total Funded from unrestricted funds.. Grant making S7,SOJ.00 3,840.00 61,340.00 61,220 Totsl 57.500.00 3,840.00 61,340.00 61,220 Recipients of In$tltytional grants: The Lord Mayoi's Charities were merged with other eharities in 1974 to fomi the Manchester Relièf in Need Chafity. Al the meeting of the Trustees of the Clarke's and Marshall's Charitiès on 23rcS July, 1974, il was resolved that the clear yearty income of the charities be paid for the lime being to the Manchester Relief in Need Charity. Amount of Contributlon ar of accoun 201712018 201812019 201912020 2020r2021 202112022 202212023 202312024 55,000 55,000 55,000 55,000 55.000 57,500 57,500 7. FIXED ASSET INVESTMENTS In¢ome Fund Capitsl Fund 202 Total Fund¥ 2024 Total 2023 Movement In fix•d a$$et invesbnants Valuation at start of year Additions al cost Disposals- prOedS Investment gainsllosses- Realised Unrealised Valuation at end of year 83,962.00 1,375,457.00 56.213.25 159,176.59} 1,459.419.00 56,213.25 159,17fj.591 1,593.440 78.761 165,8191 {558.141 13,053 52 1,358,882.00 {558.141 14,586.52 1.441,311.00 {43n 144,526 1,459419 1.533.00 82,429.DO HlstOTical Cost Revaluation Rosorve 9,427.92 73,001.08 82,429.00 766,492.95 592,389.05 1358.882.00 775.920.87 665,390.13 1,441.311.00 754,520 704,899 1,459.419 Investments atfalr value comprls8d'. Investments Chief and Ground Rents 82,429.00 1.358,882. 1,441,311.CK) 1,459,419 82,429.00 1,358,882.00 1.441,311.00 1.459.419 13-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 All inveslmenls are carried al their fair value. Invèstment in equitios and fixed interest securities are all traded in quoted public markets, prirnaiily the London Stock Exchange. Holdings in comrnon investment funds, unit trusts and open-ended invèstment companies are al the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and pur¢ha8es are recognised at the dale of trade al cost Ilhat is their transaction valuel. Following the change in the administration of the Charities in 1991 the documents of tille in support of the Receivable Chief and Ground Rents were reviewed and it was wnfirmed that the nècèssary deeds wère held to givè good marketable lille to only some of the rents re1Vable. No valuation ha5 beèn attributed lo these in previous Accounts. and these have been included in the Accounts on the basis of a £nil valuats'on. The Trustees do not consider il appropriate to place 8 valuation on these al the present lime. 8. ANALYSIS OF CURRENT ASSETS 2024 2023 Other debtors Clubs & Societiès Current Account Funds held with Stockbroker 11,58342 34,051.34 29.115.85 74,750.61 677 57,142 10,531 68,350 9. ANALYSIS OF CURRENT LIABILITIES 2024 2023 Crndltors under l year A¢cruals 3,840.00 3,840.00 3,720 3,720 10. ANALYSIS OF CHARITABLE FUNDS Analysis of Fund movements Galns and Balance Income Ex nditu Fund c Capital a¢¢aunt General Revaluation Total 709,988.47 630,364.89 1,340.353.36 19.339.871 113,611.661 37,975.84 37,975 84 725.012.78 592,389.05 1,317,401.83 19.339.871 {13,611.661 In¢ome Fund Gentsral R6valuation Totsl 109,161.71 74,534.08 183,695.79 73,996.99 161,340.001 {1.533.00} 1,533.00 1,533.00 121,818.70 73,001.08 194,819.78 73,996.99 161,340.001 11,533.001 Totsl 1,524,049.15 70.679.87 15,144.66 1.512,221.61 14-
CLARKE'S AND MARSHALL'S CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ANALYSIS OF CHARITABLE FUNDS - PREVIOUS YEAR Analysis of Fund movemènts Galns an lo Balance blfw ncom8 nditure Capltsl account General Rgvalualion Total 714,231.62 772,121.22 1,486,352.84 16,501.15) (139,498.331 141,756.33 141,756.33 709,988.47 830,364.89 1,340,353.36 {6,501.15) 1139,498.331 Income Fund General Revaluation Total 100.762.23 79,999 08 180,761.31 69,619.48 161,220.001 {5,465,00) 5,465.00 5,465.00 109,161.71 74,534.08 183,695.79 69,619.48 161,220.001 15,465.00} Total 1,667,114.15 67,721.15 144,963.331 1,524,049.15 All Funds a unrestricted. At a meeting of the Trustee8 on 23rd July 1974, il was resolved that the clear yearfy income of the Cha¥ities be paid for the lirne being lo the Manchesl&r Relief in Need Charty. 15-
ity * c> ¢0 C> C>pO 1111 1111 cccc occ>0 E E E (90
45 e4 *vV ce EEEEE NNN cccc 000 ta ro DJ ts) v) v) r
O IQ SÉ 00 51 51 stl*' PE EE ¢JE
111 KL OOOC? è758EEEE OfnOOOOO Sxzzzzz