# ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |ltat|ion
with t|he Chair|he Chair|.|.|||| |---|---|---|---|---|---|---|---|---| |1.|Insufficient|funds||generated,||||The number ofscholarships
awarded
each year is related| ||through
returns
on investments|||||||to affordability.
A spending
policy has been adopted
for| ||and a fundraising|||campaign,||to||clarity and consistency
in determining
affordability.
A new| ||support the
awarding
of||ongoing
annual
Kennedy Scholarships.|||||fundraising
campaign
is being
planned
to strengthen
the
Trust's investment
portfolio for the future.| |2.|The Trust's||acquisition
of||a|||Trustees are chosen with the scholarship's
reputation
very| ||reputation|that would threaten|||||the|much
in mind.
They themselves
come from a variety
of| ||standing
ofthe scholarships,|||||either||backgrounds
and
regularly
reconsider
the
criteria
for| ||in the eyes of potential
first-rate
applicants
or among academics at|||||||awarding
scholarships
and
the
outcomes
in
terms
of
diversity of background
as well as fields ofstudy.| ||Harvard
or MIT.|||||||| |3.|Inadequate||management||of|||The
Trust
uses
a
reputable
company
for
its
online| ||applicants'|personal
data|||in an|||application
system,
which
employs
password-protected| ||online application
data breach.|||system,|or|other||access to individual
data,
encryption
and SSL security
certificates
for safe
data
transmission.
It has
robust| |||||||||disaster-recovery
procedures.
The Trust also has robust| |||||||||policies pertaining
to data handling
and storage.| |4.|Accident or||injury|to a member|||of|The Trust has considerable
public liability cover, at a level| ||the public|visiting||the Kennedy||||researched
and market-tested
in 2016,to ensure that any| ||Memorial|at|Runnymede.|||||claim
from a member
of the
public
could
be met.
In| |||||||||addition,
there
are
signs
throughout
the
site
warning| |||||||||visitors of heightened
risks
in wet weather.
The memorial| |||||||||is
in a
rural
rather
than
a parkland
location
therefore| |||||||||requiring
appropriate
footwear.
Partnership
with
the| |||||||||National
Trust
and
regular
visits
by the
Director
and| |||||||||Trustees
ensure
the
landscape
management
risks are| |||||||||appropriately
monitored
and acted upon.| |5.|Disruptions||to operations||or awards|||Following
the
coronavirus
pandemic
the
Trust
has| ||relating
to|planned||office|closure|||enhanced
its digital
capabilities
and procedures
so as to| ||and/or loss of important
records.|||||||facilitate
remote
working
and
operations,
ensuring| |||||||||continuity
of activities
and organisational
resilience.
The| |||||||||Director now works
remotely,
primarily,
and the Trustees| |||||||||have decided to close the Trust's office. Planning
for this| |||||||||closure
is underway
so as to undertake
this
process| |||||||||efficiently
and
with
minimal
operational
disruptions.| |||||||||Essential
operational
files are
now
digitised
and
other| |||||||||physical
files will be assessed as to their future storage—| |||||||||whether
in
digitised
format
or
physically
retained.
A| |||||||||repository
will be sought
for the Trust's
most
important| |||||||||documents
—particularly
applications
and
operational| |||||||||records
(with
appropriate
access restrictions)
so as to| |||||||||reserve
its archive.| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Total|Total| |---|---|---|---|---|---| |||||Unrestricted|Unrestricted| ||||Note|2023|2022| |Income and endowments||from:|||| |Donations
and legacies||||158,849|196,310| |Investment
Income||||72,924|85,451| |Total Income||||231,773|281,761| |Expenditure:|||||| |Charitable
activities:|||||| |Runnymede
Memorial|expenses|||16,798|6,662| |Graduate
scholarships|and|expenses||737,529|960,072| |Scholarship
application|costs|||49,660|24,938| |Total expenditure||||803,987|991,672| |Net expenditure
before|gains on investments|||(572,214)|(709,911)| |Net gains on investments||||156,339|890,179| |Net (expenditure)
l income and net|||||| |movement
in funds for the year||||(415,875)|180,268| |Reconciliation
offunds:|||||| |Total funds brought
forward||||17,295,004|17,114,736| |Total funds carried forward||||16,879,129|17,295,004| ## |||Note|2023|2023|2022|2022| |---|---|---|---|---|---|---| |Fixed assets||||||| |Tangible fixed assets||||71,804||72,012| |Investments||||16,463,683||16,865,088| |Total Fixed Assets||||16,535,487||16,937,100| |Current assets||||||| |Sundry debtors and|prepayments||77,413||55,128|| |Cash and bank balances|||294,686||328,554|| |Total Current Assets|||372,099||383,682|| |Liabilities||||||| |Creditors: amounts|falling due|||||| |within one year||10|(28,457)||(25,778)|| |Net current assets||||343,642||357,904| |Net assets||||16,879,129||17,295,004| |Financed
by:||||||| |Funds ofthe charity||||||| |Unrestricted
income|funds:|13||16,879,129||17,295,004| |Approved
on behalf|ofthe Trustees on|7 July 2023||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Post|Scholarship||| |---|---|---|---|---|---| |||Graduate|Application|Total|Total| |||Scholarships|Costs|2023|2022| |University
and stipend fees||621,466||621,466|871,449| |Student travel and expenses||24,710|4,833|29,543|42,660| |Summer research scholarships||2,413||2,413|| |Programme|support costs|9,610|5,755|15,365|2,974| |||658,199|10,588|668,787|917,083| |Staff costs||50,565|24,905|75,470|56,789| |Premises costs||7,728|3,806|11,534|9,788| |Administration|costs|2,989|1,474|4,463|3,258| |Exchange losses / (gains)||4,961|2,443|7,404|(19,788)| |Contributions|Frank Knox||||| |Scholars||15,349|7,560|22,909|43,487| |||50,894|25,068|75,962|6,560| |Cost met by|specific conditions|15,349|7,560|22,909|43,487| |||66,243|32,628|98,871|50,047| |Governance|Costs||||| |Accountancy||6,208|3,057|9,265|8,575| |Audit fee||5,020|2,472|7,492|6,250| |Legal and professional||1,859|915|2,774|3,055| |||13,087|6,444|19,531|17,880| |Total costs for year||737,529|49,660|787,189|985,010| ||for the y|ear ended 30April 2023 (|Continued)|| |---|---|---|---|---| |5
Analysis ofcharitable|expenditure|—Comparative
2022||| |||Post|Scholarship|| |||Graduate|Application|Total| |||Scholarships|Costs|2022| |University
and stipend fees||871,449||871,449| |Student travel and expenses||42,184|476|42,660| |Summer research scholarships||||| |Programme
support costs||928|2,046|2,974| |||914,561|2,522|917,083| |Staff costs||38,049|18,740|56,789| |Premises costs||6,558|3,230|9,788| |Administration
costs||2,182|1,076|3,258| |Exchange
(gains) Ilosses
Contributions
Frank Knox 8
Scholars|Fulbright|(13,257)
29,377|(6,531)
(14,47
~0|(19,788)
43,487| |Cost met by specific conditions||29,377|14,470|43,487| |||4,155|2,045|6,200| |Governance
Costs||||| |Accountancy||5,745|2,830|8,575| |Audit fee||4,187|2,063|6,250| |Legal and professional||2,047|1,008|3,055| |||11,979|5,901|17,880| |Total costs for year||960,072|24,938|985,010| ## ## |2023|2022| |---|---| |Number|Number| ## |Total remuneration
paid to key manageme
Fixed assets|nt
personnel
for the year was f73,4|34 (2022:f69,03|8).| |---|---|---|---| ||Runnymede|Office|| ||Memorial|equipment|Total| |Cost|||| |At 1 May 2022|71,178|1,042|72,220| |Additions|||| |30 April 2023|71,178|1,042|72,220| |Depreciation|||| |At 1 May 2022||208|208| |Charge for the year||208|208| |At 30 April 2023||416|416| |Net book va/ue|||| |At 30 April 2023|71,178|626|71,804| |At 30 April 2022|71,178|834|72,012| ## |Investments|||||||2023|2022| |---|---|---|---|---|---|---|---|---| |Market value|at 1 May||||||16,865,088|16,852,908| |Additions|||||||16,108,177|| |Disposals|||||||(16,662,782)|(448,810)| |Realised gains|||||||329,618|28,226| |Net unrealised
investment|||(losses)|Igains|||(173,279)|861,953| |Cash deposit|movement||||||(3,139)|(429,189)| |Market value|at 30 April||||||16,463,683|16,865,088| |The valuation|at 30 April||2023 comprises:|||||| |Investments|listed on|a recognised||Stock Exchange|including|unit trusts||| ||||||||2023|2022| |UK listed investments||—managed||funds|||640,667|2,535,666| |Overseas —managed||funds|||||15,823,165|14,326,433| |Cash deposits|||||||(149)|2,989| ||||||||16,463,683|16,865,088| ## ## |The following
investments
comprise|more than|5%ofthe value o|fthe total portfo|lio:|| |---|---|---|---|---|---| |||2023|2022|2023|2022| |||||0/|0/| |Charitrak
UK|||1,743,662||10| |BRISHS DEV WD ESG IDX|||7,770,514||46| |BRBGF EMG MKTS EQTY|||1,446,992||9| |BRISHS GBL INFL LKD IDX|||4,320,066||26| |BR UK Property||640,667|792,004||5| |ISHS CORE WORLD|||788,861||5| |AMUNDI ESG GLOBAL LOW CARBON||11,093,712||67|| |AIS US CORP SRI IU C||1,623,204||10|| |AIS US CORP SRI IHG D||3,106,249||19|| |Sundry debtors and prepayments:|amount|falling due within|one year|2023|2022| |Other debtors||||66,274|44,986| |Tax and social security|||||6,932| |Prepayments
and accrued income||||11,139|3,210| |||||77,413|55,128| ## ## ## ## ## ## ## ## |||LA
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