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|||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|
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|||||||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|
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|||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|
##
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##
|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|
##
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##
##
||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|
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