| ReferenceandadministrativedetailsoftheTrust,itsTrusteesandadvisers | |
|---|---|
| Trustees’report | |
| Independentauditor'sreportonthefinancialstatements | |
| Statementoffinancialactivities | |
| Balancesheet | |
| Statementofcashflows | |
| Notestothefinancialstatements | 13-25 |
| Trustees | LockwellTrusteeLimited,CorporateTrustee |
|---|---|
| ThefollowingaredirectorsoftheCorporateTrustee: | |
| MrJANCampbell | |
| MsGECampbell | |
| MrsJCChalmers,Chair | |
| MrJMCampbell | |
| DrCMPercy | |
| MissACampbell | |
| MrMCampbell | |
| MissEGChalmers | |
| MsJKBrown | |
| MissRECampbell | |
| MrCGPercy | |
| Charityregistered | |
| number | 245061 |
| Principaloffice | SpringfieldHouse |
| SpringfieldRoad | |
| Horsham | |
| WestSussex | |
| RH122RG | |
| Independentauditor | KrestonReevesLLP |
| CharteredAccountants | |
| StatutoryAuditor | |
| SpringfieldHouse | |
| SpringfieldRoad | |
| Horsham | |
| WestSussex | |
| RH122RG | |
| Bankers | LloydsBankPlc |
| 1WestStreet | |
| Horsham | |
| WestSussex | |
| RH121PA | |
| InvestmentAdvisors | CloseBrothersAssetManagement |
| 10ExchangeSquare | |
| PrimroseStreet | |
| London | |
| EC2A2BY |
20/11/2023
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023 | 2023 | 2022 | ||
| Note | £ | £ | £ | |
| Incomefrom: | ||||
| Donationsandlegacies | 23,000 | 23,000 | 100,000 | |
| Investments | 712,997 | 712,997 | 487,577 | |
| Totalincome | 735,997 |
735,997 |
587,577 |
|
| Expenditureon: | ||||
| Raisingfunds | 83,562 | 83,562 | 65,355 | |
| Charitableactivities | 1,507,088 | 1,507,088 | 1,383,043 | |
| Totalexpenditure | 1,590,650 |
1,590,650 |
1,448,398 |
|
| Netexpenditurebeforenet(losses)/gainson | ||||
| investments | (854,653) | (854,653) | (860,821) | |
| Net(losses)/gainsoninvestments | (590,254) | (590,254) | 1,389,482 | |
| Netmovementinfunds | (1,444,907) |
(1,444,907) |
528,661 |
|
| Reconciliationoffunds: | ||||
| Totalfundsbroughtforward | 22,499,539 | 22,499,539 | 21,970,878 | |
| Netmovementinfunds | (1,444,907) | (1,444,907) | 528,661 | |
| Totalfundscarriedforward | 21,054,632 |
21,054,632 |
22,499,539 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixedassets | |||||
| Investments | 10 | 21,199,311 | 22,498,173 | ||
| 21,199,311 | 22,498,173 | ||||
| Currentassets | |||||
| Debtors | 11 | 28,398 | 117,874 | ||
| Cashatbankandinhand | 44,903 | 55,097 | |||
| 73,301 | 172,971 | ||||
| Creditors:amountsfallingduewithinone | |||||
| year | 12 | (182,980) | (126,605) | ||
| Netcurrentliabilities/assets | (109,679) | 46,366 | |||
| Totalassetslesscurrentliabilities | 21,089,632 | 22,544,539 | |||
| Creditors:amountsfallingdueaftermore | |||||
| thanoneyear | 13 | (35,000) | (45,000) | ||
| Netassetsexcludingpensionasset | 21,054,632 | 22,499,539 | |||
| Totalnetassets | 21,054,632 | 22,499,539 | |||
| Charityfunds | |||||
| Restrictedfunds | - | - | |||
| Unrestrictedfunds | |||||
| Generalfunds | 21,054,632 | 22,499,539 | |||
| Totalunrestrictedfunds | 21,054,632 | 22,499,539 | |||
| Totalfunds | 21,054,632 | 22,499,539 |
| 2023 | 2022 | |
|---|---|---|
| Cashflowsfromoperatingactivities | ||
| Netcashusedinoperatingactivities | (1,046,211) | 6,818,193 |
| Cashflowsfrominvestingactivities | ||
| Proceedsfromsaleofinvestments | 1,766,678 | 1,404,146 |
| Purchaseofinvestments | (730,661) | (8,221,382) |
| Netcashprovidedby/(usedin)investingactivities | 1,036,017 | (6,817,236) |
| Changeincashandcashequivalentsintheyear | (10,194) | 957 |
| Cashandcashequivalentsatthebeginningoftheyear | 55,097 | 54,140 |
| Cashandcashequivalentsattheendoftheyear | 44,903 | 55,097 |
| Thenotesonpages13to25formpartofthesefinancialstatements |
| 4. | Incomefromdonationsandlegacies |
|---|---|
| Legacies | |
| Legacies | |
| 5. | Investmentincome |
| Unrestricted | Total |
|---|---|
| funds | funds |
| 2023 | 2023 |
| £ | |
| 23,000 | 23,000 |
| Unrestricted | Total |
| funds | funds |
| 2022 | 2022 |
| £ | £ |
| 100,000 | 100,000 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Incomefromlocallistedinvestments | 384,586 | 384,586 |
| Investmentincome-foreignlistedinvestments | 254,784 | 254,784 |
| Investmentincome(CPAgrossinterestreceivable) | 3,826 | 3,826 |
| Investmentincome-otherlocalinvestments | 23,925 | 23,925 |
| Investmentincome-otherforeigninvestments | 45,876 | 45,876 |
| 712,997 | 712,997 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Incomefromlocallistedinvestments | 109,494 | 109,494 |
| Investmentincome-foreignlistedinvestments | 307,403 | 307,403 |
| Investmentincome-localcash | 83 | 83 |
| Investmentincome-otherlocalinvestments | 19,726 | 19,726 |
| Investmentincome-otherforeigninvestments | 50,871 | 50,871 |
| 487,577 | 487,577 |
| Grantsto | Total |
|---|---|
| Institutions | funds |
| 2023 | 2023 |
| £ | £ |
| 1,479,500 | 1,479,500 |
| Grantsto | Total |
| Institutions | funds |
| 2022 | 2022 |
| £ | £ |
| 1,355,500 | 1,355,500 |
| Grant | |||
|---|---|---|---|
| fundingof | Support | Total | |
| activities | costs | funds | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Directcosts | 1,479,500 |
27,588 |
1,507,088 |
| Grant | |||
| fundingof | Support | Total | |
| activities | costs | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Directcosts | 1,355,500 | 27,543 | 1,383,043 |
| Analysisofsupportcosts | |||
| Total | |||
| Activities | funds | ||
| 2023 | 2023 | ||
| £ | £ | ||
| Supportcosts-bankcharges | 144 | 144 | |
| Supportcosts-Auditors’nonauditcosts | 14,271 | 14,271 | |
| Governancecosts | 13,173 | 13,173 | |
| 27,588 | 27,588 | ||
| Total | |||
| Activities | funds | ||
| 2022 | 2022 | ||
| £ | £ | ||
| Supportcosts-bankcharges | 99 | 99 | |
| Supportcosts-Auditors’nonauditcosts | 13,172 | 13,172 | |
| Governancecosts | 14,272 | 14,272 | |
| 27,543 | 27,543 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| FeespayabletotheTrust'sauditorfortheauditoftheTrust'sannual | ||
| accounts | 14,271 | 14,272 |
| FeespayabletotheTrust'sauditorinrespectof: | ||
| Allnon-auditservicesnotincludedabove | 13,173 | 13,172 |
| Listed | ||||
|---|---|---|---|---|
| investments | Cash | Total | ||
| £ | £ | £ | ||
| Costorvaluation | ||||
| At6April2022 | 22,083,975 | 414,198 | 22,498,173 | |
| Additions | 730,661 | - | 730,661 | |
| Disposals | (1,766,678) | 314,779 | (1,451,899) | |
| Revaluations | (577,624) | - | (577,624) | |
| At5April2023 | 20,470,334 |
728,977 |
21,199,311 |
|
| Netbookvalue | ||||
| At5April2023 | 20,470,334 | 728,977 | 21,199,311 | |
| At5April2022 | 22,083,975 |
414,198 |
22,498,173 |
|
| Attheyearend,thehistorical | costofthelistedsecuritiesheldbytheTrust | is£15,403,353(2022 |
- | |
| £16,409,960). | ||||
| Withinlistedsecuritiesareoverseasinvestmentswithafairvalueof£13,361,283(2022-£12,563,731). | ||||
| AllotherlistedinvestmentsareatfairvaluewithintheUnitedKingdom. |
| 11. | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Duewithinoneyear | |||
| Prepaymentsandaccruedincome | 24,918 | 14,395 | |
| Taxrecoverable | 3,480 | 3,479 | |
| Legaciesreceivable | 100,000 | ||
| 28,398 | 117,874 | ||
| 12. | Creditors:Amountsfallingduewithinoneyear | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Othercreditors | 145,500 | 85,000 | |
| Accrualsanddeferredincome | 37,480 | 41,605 | |
| 182,980 | 126,605 | ||
| 13. | Creditors:Amountsfallingdueaftermorethanoneyear | ||
| 2023 | 2022 | ||
| Othercreditors | 35,000 | 45,000 | |
| 14. | Analysisofnetassetsbetweenfunds | ||
| Analysisofnetassetsbetweenfunds-currentyear | |||
| Unrestricted | Total | ||
| funds | funds | ||
| 2023 | 2023 | ||
| £ | £ | ||
| Fixedassetinvestments Tradeinvestments Currentassets Creditorsduewithinoneyear Creditorsdueinmorethanoneyear |
20,470,334 728,977 73,301 (182,980) (35,000) |
20,470,334 728,977 73,301 (182,980) (35,000) |
|
| Total | 21,054,632 | 21,054,632 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Fixedassetinvestments | 22,083,975 | 22,083,975 |
| Tradeinvestments | 414,198 | 414,198 |
| Currentassets | 172,971 | 172,971 |
| Creditorsduewithinoneyear | (126,605) | (126,605) |
| Creditors dueinmorethanoneyear | (45,000) | (45,000) |
| 22,499,539 | 22,499,539 |
| 2023 | 2022 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | ||||||||||
| Net income/expenditure |
for | the | year |
(as | per |
Statement | of | Financial | ||
| Activities) | (1,444,907) | 528,661 | ||||||||
| Adjustmentsfor: | ||||||||||
| Unrealisedloss/(gains)on | investments | 991,822 | (1,576,557) | |||||||
| Decreaseindebtors | 85,793 | 7,845,266 | ||||||||
| Increaseincreditors | 46,375 | 20,823 | ||||||||
| Netcashprovidedby/(used | in) | operating | activities | (320,917) | 6,818,193 |
| 2023 | 2022 | ||
|---|---|---|---|
| £ | |||
| Cash | inhand | 44,903 | 55,097 |
| Total | cashandcashequivalents | 44,903 | 55,097 |
| Cashat | bankand | in | hand | At | 6April 2022 £ 55,097 |
Cashflows £ (10,194) |
At5April 2023 £ 44,903 |
|---|---|---|---|---|---|---|---|
55,097 |
(10,194) |
44,903 |
| Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasat | Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasat | theyearendno | theyearendno |
|---|---|---|---|
| obligationsexisted inrespectofthesegrants.TheTrust hadnotindicated |
itsintentionstothegrant | ||
| recipients,thereforenovalidexpectationwascreatedwiththeotherparties. | |||
| 2023 | 2022 | ||
| £ | £ | ||
| At5April2023theTrusthadcommitmentsasfollows: | |||
| Commitmentsinrespectofgrantsapprovedforprojectswhichhave | |||
| notbeenaccruedinthefinancialstatementsbutwillformpartof | |||
| grants: | |||
| Withinoneyear | 52,000 | 65,000 | |
| Betweenoneandtwoyears | - | 40,000 | |
| 52,000 | 105,000 | ||
| ReconciliationoftheGrantCommitments | 2023 | 2022 | |
| £ | £ | ||
| Openinggrantcommitment | 105,000 | 72,000 | |
| ChargedtotheStatementofFinancialActivityintheyear | (90,000) | (65,000) | |
| Newgrantcommitmentsintheyear | 37,000 | 98,000 | |
| 52,000 | 105,000 |
| Totalcharitablegrantspayableandcommitted | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Accrued | 180,500 | 130,000 |
| Commitment(above) | 52,000 | 105,000 |
| 232,500 | 235,000 |