2023-07-31-accounts

		Page
Report ofthe Trustees		2 to 11
Report ofthe Independent Auditors		12to 15
Statement of Financial	Activities	16
Balance Sheet		17to 18
Cash Flow Statement		19
Notes to the Cash Flow Statement		20
Notes to the Financial	Statements	21to 35

						2023	2022
		Notes	Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
			E	E	E	E	E
INCOME AND ENDOWMENTS:
Donations and legacies			2,250			2,250	451,500
Investment income			436,796		165,817	602,613	492,839
Other income			43,811			43,811	54,540
Total income			482,857		165,817	648,674	998,879
EXPENDITURE ON
Raising funds:
Investment management	costs	4	99,965		32,017	131,982	128,477
Charitable activities:
Attributable to grant making		5	546,444			546,444	747,404
Total expenditure			646,409		32,017	678,426	875,881
NET INCOME/(EXPENDITURE)			(163,552)		133,800	(29,752)	122,998
BEFOREINVESTMENT GAINS /
(LOSSES)
Net investment gains / (losses)		12	(130,140)		(258,710)	(388,850)	842,422
NET INCOME/(EXPENDITURE)			(293,692)		(124910)	(418602)	965,420
RECONCILIATION OF FUNDS		19
Total funds brought forward			18,284,025	9,636	8,276,761	26,570,422	25,605,002
Transfers between funds
Net Income/(Expenditure)			(293,692)		(124,910)	(418,602)	965,420
TOTAL FUNDS CARRIED			17,990,333	9,636	8,151,851	26,151,820	26,570,422
FORWARD

Balance Sheet
					2023	2022
	Notes	Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	funds	funds
		E	E	E	E	E
FIXEDASSETS
Tangible assets	13	120,865			120465	121,985
Investments
Investments	14	6,670,191		7,806,041	14p476,232	15,255,559
Investment property	15	10,699,644		345,810	11,045,454	10,879,165
		17,490,700		8,151,851	25,642,551	26,256,709
CURRENT ASSETS
Debtors	16	184,164			184,164	182,169
Cash at bank		510,964	9,636		520,600	429,285
		695,128	9,636		704,764	611,454
CREDITORS
Amounts falling due within one year	17	(43,806)			(43,806)	(62,209)
NET CURRENT ASSETS		651,322	9,636		660,958	549,245
TOTAL ASSETS LESSCURRENT		18,142,022	9,636	8,151,851	26,303,509	26,805,954
LIABILITIES
CREDITORS
Amounts falling due after more than	18	(151,689)			(151,689)	(235,532)
one year
NET ASSETS		17,990,333	9636	8151851	26~151p820	26 570422
FUNDS
Unrestricted funds:
General fund					1,340,504	1,088,570
Designated fund					16,649,829	17,195,455
TOTAL FUNDS CARRIED FORWARD					17,990,333	18,284,025
Restricted funds					9,636	9,636
Endowment funds					8,151,851	8,276,761
					26,151,820	26,570,422

				2023	2022
			Notes	6	E
Cash flows from operating	activities
Cash generated from operations				(599,660)	(254,447)
Net cash used in operating	activities			(599,660)	(254,447)
Cash flows from investing	activities
Purchase ofquoted investments				(9,083,952)	(3,809,570)
Purchase ofinvestment property				(57,498)	(22,816)
Sale ofquoted investments				9,038,687	4,685,698
Movement on cash held at	Cazenove			332,361	(520,703)
Accrued income on quoted	investments			(5,410)	(729)
Interest received				25,302	2,545
Dividends received				307,685	233,205
Net cash provided by investing activities				557,175	567,630
Cash flows from financing	activities
Income attributable to endowment				165,817	117,647
Expenditure attributable to endowment				(32,017)	(32,945)
Net cash provided by financing activities				133,800	84,702
Change in cash and cash equivalents		in the		91,315	397,885
reporting period
Cash and cash equivalents	at the beginning of			429,285	31,400
the reporting period
Cash and cash equivalents	at the end	ofthe		520,600	429,285
reporting period

Reconciliation Activities	of Ne	t Income/(Ex	penditure) to N	et Cash Flow from	Operating
				2023	2022
				6	E
Net income/(expenditure)		for the reporting	period (asper the	(418,602)	965,420
Statement of Financial Activities)
Adjustments for:
Depreciation charges				1,120	1,125
(Gain)/losses on investments				388,850	(842,422)
Interest received				(25,302)	(2,545)
Dividends received				(307,685)	(233,205)
Income attributable	to endowment			(165817)	(117,647)
Expenditure attributable to		endowment		32,017	32,945
(Increase)/decrease	in debtors			(1,995)	(4,013)
Increase/(decrease)	in creditors			(102,246)	(54,105)
Net cash used in operations				(599,660)	(254,447)

Anal	ys	is of Changes in Net F	unds
			At	1.8.22	Cash	flow	At	31.7.23
				E		E		E
Cash	at	bank		429,285		91,315		520,600

		2023	2022
		5	E
Donations		2,250	451,500
The above donations	have been made for the following purposes:
Ms Ye			450,000
Other		2,250	1,500
		2,250	451,500

			2023	2022
			6	6
Rent received			269,626	257,089
Dividends and interest			307,685	233,205
Interest —cash deposits			14,138	970
Interest —deferred	premium	and loans	11,164	1,575
			602,613	492,839

RAISING	FUNDS
Investment	management	costs
			2023	2022
			6	5
Investment	management	costs —brokers fees	61,587	65,543
Cost ofrental properties			70,395	62,934
			131,982	128,477

				Grant	Support
				funding of	costs	Totals
				activities	(see note 7)
				(see note 6)
				E	6	6
Attributable	to	grant	making	480,840	65,604	546,444

income/(	expenditure) is stated after changing/(	crediting):
		2023	2022
		6	E
Auditors'	remuneration	6,048	5,622
Depreciation —owned assets		1,120	1,125
		7,168	6,747

		2023	2022
		6	E
Wages	and salaries	43,811	54,540
Other	pension costs	6,385	6,385
		50,196	60,925

NET GA	INS/(LOSSES) QN INVESTM	ENT
		2023	2022
		E	f
Investment	portfolio	(497,640)	(763,926)
Investment	properties	10$,790	1,606,348
		(388,$50)	842,422

TANGIBLE FIXED ASSETS
	Leasehold	Improvements	Library	Totals
	property f	to property f	f	E
COST
At 1August 2022 and 31July 2023	150,000	4,095	15,391	169,486
DEPRECIATION
At 1August 2022	30,000	2,492	15,009	47,501
Charge for year	1,000	82	38	1,120
At 31July 2023	31,000	2,574	15,047	48,621
NET BOOK VALUE
At 31July 2023	119,000	1,521	344	120,865
At 31July 2022	120,000	1,603	382	121,985

FIXE	D ASSET	INVESTMENTS
			2023		2022
			6		E
Listed	investment	portfolio	14/76,	232	15,255,559

Movement in fixed asset	investments
		2023	2022
		6	E
Market value at 1August (excluding cash held)		14,466,912	16,106,238
Additions at cost		9,083,952	3,803,972
Disposal proceeds		(9,038,687)	(4,680,101)
Gains/(Losses) on investment	assets	(497,640)	(763,926)
Accrued interest (movement)		5,410	729
Market value at 31July (excluding cash held)		14,019,947	14,466,912
Cash held at 31July		456,285	788,646
Market value ofinvestments	31July	14,476,232	15,255,558

			E
Valuation	in	2020	8,270,853
Valuation	in	2021	834,148
Valuation	in	2022	1,774,164
Valuation	in	2023	166,289
			11,045,454

			2023	2022
			E	E
Amounts	falling due within one year:
Loans			10,399	17,605
Prepayments		and accrued income	3,574	5,469
			13,973	23,074
Amounts	falling due after more than one year:
Deferred	premium		170,191	159,095
			184,164	182,169

	2023	2022
	6	E
Lease premiums	33,177	52,969
Accrued expenses	10,629	9,240
	43,806	62,209

	2023	2022
	6	6
Lease premiums	144,689	228,532
Security premiums	7,0M	7,000
	151,689	235,532

			Net	Transfers
		At 1.8.22	movement in	between	At 31.7.23
			funds	funds
			f	f
Unrestricted	funds
General fund		1,088,570	(128,745)	380,679	1,340,504
Designated	fund	17,195,455	(164,947)	(380,679)	16,649,829
		18,284,025	(293,692)		17,990,333
Restricted funds
Restricted		9,636			9,636
Endowment	funds
Endowment	fund	8,276,761	(124,910)		8,151,851
TOTAL FUNDS		26,570,422	(418,602)		26,151,820
movement	in funds, included	in the above are as follows:
		Incoming	Resources	Gains and	Movement in
		resources	expended	losses	funds
		f	f	f	f
Unrestricted	funds
General fund		488,094	(616,839)		(128,745)
Designated	fund	(5,237)	(29,570)	(130,140)	(164,947)
		482,857	(646,409)	(130,140)	(293,692)
Endowment	funds
Endowment	fund	165,817	(32,017)	(258,710)	(124,910)
TOTAL FUNDS		648,674	(678,426)	(388,850)	(418,602)

			Net	Transfers
		At 1.8.21	movement in	between	At 31.7.22
			funds	funds
			E	E
Unrestricted	funds
General fund		755,876	(74,105)	406,799	1,088,570
Designated	fund	16,263,456	1,338,798	(406,799)	17,195,455
		17,019,332	1,264,693		18,284,025
Restricted funds
Restricted		9,636			9,636
Endowment	funds
Endowment	fund	8,576,034	(299,273)		8,276,761
TOTALFUNDS		25,605,002	965,420		26,570,422

		Incoming	Resources	Gains and	Movement in
		resources	expended	losses	funds
		E	E	E	E
Unrestricted	funds
General fund		881,232	(810,337)	(145,000)	(74,105)
Designated	fund		(32,599)	1,371,397	1,338,798
		881,232	(842,936)	1,226,397	1,264,693
Endowment	funds
Endowment	fund	117,647	(32,945)	(383,975)	(299,273)
TOTALFUNDS		998,879	(875,881)	842,422	965,420

rrent year	12months and pri	or year 12months combi	ned position is a	s follows:
			Net	Transfers
		At 1.8.21	movement in	between	At 31.7.23
			funds	funds
			E	E
Unrestricted	funds
General fund		755,876	(202,850)	787,478	1,340,504
Designated	fund	16,263,456	1,173,851	(787,478)	16,649,829
		17,019,332	971,001		17,990,333
Restricted funds
Restricted		9,636			9,636
Endowment	funds
Endowment	fund	8,576,034	(424,183)		8,151,851
TOTAL FUNDS		25,605,002	546,818		26,151,820

		Incoming	Resources	Gains and	Movement in
		resources	expended	losses	funds
		E	E	E	E
Unrestricted	funds
General fund		1,369,326	(1,427,176)	(145,000)	(202,850)
Designated	fund	(5,237)	(62,169)	1,241,257	1,173,851
		1,364,089	(1,489,345)	1,096,257	971,001
Endowment	funds
Endowment	fund	283,464	(64,962)	(642,685)	(424,183)
TOTALFUNDS		1,647,553	(1,554,307)	453,572	546,818

						Endowment	Unapplied	Total
							Total Return	Endowment
							E	E
At the beginning		ofthe reporting		period:
Gift component		ofthe permanent		endowment		5,538,795		5,538,795
Unapplied	total	return					2,392,156	2,392,156
						5,538,795	2,392,156	7,930,951
Movement	in the reporting		period:
Investment	return: dividends		and	interest			165,817	165,817
Investment	return: realised		and unrealised		gains		(258,710)	(258,710)
Less: investment		management costs					(32,017)	(32,017)
							(124,910)	(124,910)
Unapplied	total	return allocated to income			in the reporting
period
Net movements		In the reporting period					(124,910)	(124,910)
At the end	ofthe reporting		period
Gift component		ofthe permanent		endowment		5,538,795		5,538,795
Unapplied	total	return					2,267,246	2,267,246
Total						5,538,795	2,267,246	7,806,041