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|1.|Trustees'|Report||pages|3|to|6|
|---|---|---|---|---|---|---|---|
|2.|Independent<br>Examiner's||Report|page|7|||
|3.|Financial|Statements||pages|8|to|15|





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||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
|||||Notes|Funds|Funds|
||||||2022|2021|
||||||f||
|Income from:|||||||
|Investments|||||86,933|87,722|
|Total|||||86,933|87,722|
|Expenditure<br>on:|||||||
|Raising funds<br>Investment<br>anagement||costs|||20,568|20,0 3|
|Charitable<br>activities|||||||
|Grant funding|||||303,965|316,257|
|Total|||||324,533|336,290|
|Net expenditure<br>before gains <br>(losses) on investments|||and||(237,600)|(248,568)|
|Net gains/(losses)<br>on inv s||me|tassets||66,388|433,953|
|Net income/(expenditure)<br>movement<br>i<br>funds||net|||(171,212)|185,385|
|Reconciliation<br>offunds:|||||||
|Total funds brought<br>at 1"April 2021|forward||||2,730,785|2,545,400|
|Total funds carried|forward||||||
|at 31"March 2022|||||2,559,573|2,730,785|





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|ance<br>with the following<br>permitted<br>r|anges:||||
|---|---|---|---|---|
|Fixed interest|2.5|-|42.5%|of port olio|
|Equities (overseas max 40%)|42.5|"|82.5%|of portfolio|
|Property|0|-|15%|of portf<br>lio|
|Alternatives|0|-|15%|of porffolio|
|Cash|0|-|25%|of porffolio|



|nvestments<br>list|ed on a recognise|d<br>stock exchang|e,<br>including<br>investment|Trusts:|
|---|---|---|---|---|
||||2022|202|
||||F||
|Market value|at<br>"April 2021||2,653,281|2,498,892|
|Acquisitions|at cost||236566|690882|
|Disposals|||(512,649)|(970,446)|
|Net realised gains<br>in the year<br>Net unrealised<br>gains/(losses)||in the year|128,174<br>(6,786)|8,417<br>425,536|
|Market valu|at31"March 2022||2,44,586|2,653,281|
|Historical cost as at31"March 2022|||2,036,112|2,184,021|
||||2022|2021|
|Investment<br>assets<br>in the UK|||1,551,337|1,760,090|
|Investment<br>assets outside the UK|||892, 49|893,191|
||||2,443,586|2,653,281|



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|6. FINANCIA<br>IN|STRUMEN|TS||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|Carrying<br>amount offinancial||assets:||||||
|Debt instruments|measured|at|cost|||125,809|90255|
|Equity<br>instruments|measured||a|fair|value|||
|through<br>income and expenditure||||||2,443,586|2,653,281|
|||||||2,569,395|2,74,536|
|Carrying<br>amount offinancial||liabilities:||||||
|Measured<br>at cost||||||9,992|13,467|
|7.<br>DEBTORS||||||||
|||||||2022|2021|
|P repayments||||||f170|K 16|
|8. CREDITORS||||||||
|||||||2022|2021|
|Accruals||||||R9,992|F13,467|



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