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||Page|
|---|---|
|ReferenceandadministrativedetailsoftheTrust,itsTrusteesandadvisers|1|
|Trustees’report|2-5|
|Independentauditor'sreportonthefinancialstatements|6-9|
|Statementoffinancialactivities|10|
|Balancesheet|11|
|Statementofcashflows|12|
|Notestothefinancialstatements|13-25|





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|Trustees|LockwellTrusteesLimited,CorporateTrustee|
|---|---|
||ThefollowingaredirectorsoftheCorporateTrustee:|
||Mr<br>J<br>ANCampbell|
||MsGECampbell|
||MrsJCChalmers,Chair|
||MrJMCampbell|
||DrCMPercy(Resigned12June2023)|
||Miss<br>ACampbell|
||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|





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# 19 December 2024 



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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2024|2024|2023|
||Note|£|£|£|
|Incomefrom:|||||
|Donationsandlegacies|4|-|-|23,000|
|Investments|5|630,891|630,891|712,997|
|Totalincome||630,891|630,891|735,997|
|Expenditureon:|||||
|Raisingfunds|7|84,773|84,773|83,562|
|Charitableactivities|7|1,443,944|1,443,944|1,507,088|
|Totalexpenditure||1,528,717|1,528,717|1,590,650|
|Netexpenditurebeforenetgains/(losses)on|||||
|investments||(897,826)|(897,826)|(854,653)|
|Netgains/(losses)oninvestments||1,598,511|1,598,511|(590,254)|
|Netmovementinfunds||700,685|700,685|(1,444,907)|
|Reconciliationoffunds:|||||
|Totalfundsbroughtforward||21,054,632|21,054,632|22,499,539|
|Netmovementinfunds||700,685|700,685|(1,444,907)|
|Totalfundscarriedforward||21,755,317|21,755,317|21,054,632|





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||||2024||2023|
|---|---|---|---|---|---|
||Note||£||£|
|Fixedassets||||||
|Investments|10||21,833,628||21,199,311|
||||21,833,628||21,199,311|
|Currentassets||||||
|Debtors|11|56,079||28,398||
|Cashatbankandinhand||33,132||44,903||
|||89,211||73,301||
|Creditors:amountsfallingduewithinone||||||
|year|12|(120,022)||(182,980)||
|Netcurrentassets|||21,802,817||21,089,632|
|Totalassetslesscurrentliabilities|||21,802,817||21,089,632|
|Creditors:amountsfallingdueaftermore||||||
|thanoneyear|13||(47,500)||(35,000)|
|Totalnetassets|||21,755,317||21,054,632|
|Charityfunds||||||
|Restrictedfunds|||-||-|
|Unrestrictedfunds||||||
|Generalfunds||21,755,317||21,054,632||
|Totalunrestrictedfunds|||21,755,317||21,054,632|
|Totalfunds|||21,755,317||21,054,632|





## 

|Statementofcashflows|||
|---|---|---|
|Fortheyearended5April2024|||
||2024<br>£|2023<br>£|
|Cashflowsfromoperatingactivities|||
|Netcashusedinoperatingactivities|(521,096)|(1,046,211)|
|Cashflowsfrominvestingactivities|||
|Proceedsfromsaleofinvestments<br>Purchaseofinvestments|1,935,386<br>(1,426,061)|1,766,678<br>(730,661)|
|Netcashprovidedbyinvestingactivities|509,325|1,036,017|
|Changeincashandcashequivalentsintheyear|(11,771)|(10,194)|
|Cashandcashequivalentsatthebeginningoftheyear|44,903|55,097|
|Cashandcashequivalentsattheendoftheyear|33,132|44,903|
|Thenotesonpages13to25formpartofthesefinancialstatements|||





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|4.|Incomefromdonationsandlegacies|
|---|---|
||Legacies|
||Legacies|
|5.|Investmentincome|



||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2024|2024|
||£|£|
|Legacies|||
||Unrestricted|Total|
||funds|funds|
||2023|2023|
||£|£|
|Legacies|23,000|23,000|
||23,000|23,000|
|Investmentincome|||
||Unrestricted|Total|
||funds|funds|
||2024|2024|
||£|£|
|Incomefromlocallistedinvestments|219,031|219,031|
|Investmentincome-foreignlistedinvestments|313,655|313,655|
|Investmentincome(CPAgrossinterestreceivable)|22,102|22,102|
|Investmentincome-otherlocalinvestments|26,419|26,419|
|Investmentincome-otherforeigninvestments|49,684|49,684|
||630,891|630,891|



||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|





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## 

|6.|Analysisofgrants(continued)|Analysisofgrants(continued)||
|---|---|---|---|
||NACOA||20,000|
||NicheInternational||15,000|
||NuffieldFarmingScholarshipsTrusts||10,000|
||OesophagealPatientsAssociation||10,000|
||OfftheStreets||5,000|
||One25||20,000|
||PlantYourFuture||15,000|
||PlayBuddiesTrust||5,000|
||PrisonersAbroad||5,000|
||RambertSchoolofBallet|&ContemporaryDance|10,000|
||Re-Cycle||6,000|
||RegionalScreenScotland||5,000|
||Restore||30,000|
||RightTrackScotland||12,000|
||RiversideCounsellingService||10,000|
||RoyalAgriculturalBenevolentInstitution||15,000|
||SaveTheChildren||125,000|
||ScottishWildlifeTrust||15,000|
||ScoutsScotland||2,000|
||SenseInternational||9,000|
||ShelterScotland||10,000|
||Shelterbox||15,000|
||SightScotland||5,000|
||SiglodeOro||8,000|
||SOFEA||45,000|
||SolarAid||10,000|
||SpencerContact||10,000|
||StMungos||25,000|
||StreetChild||30,000|
||SupportDogs||5,000|
||TheAdamiProject,Sierra|Leone|4,000|
||TheArmonicoConsort||5,000|
||TheCrawickMultiverseTrust||5,000|
||TheDashCharity||10,000|
||TheHertfordshireCommunityFoundation||20,000|
||TheOpenUniversityScholarshipFund||20,000|
||TheRoyalNationalOrthopaedicHospitalNHSTrust||5,000|
||TheRoyalNationalCollegefortheBlind||5,000|
||TheRoyalNationalInstituteforDeafPeople||10,000|
||TheSnitterfieldVillageHall||25,000|
||TheUpperRoom||37,500|
||TinnitusUK||15,000|
||TrinityCommunityArts||130,000|
||Waterside||5,000|
||WhizzKidz||7,000|
||WintercomfortfortheHomeless||10,000|
||WycombeYouthAction||5,000|
||TotalGrants||1,413,000|



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## 

|||Grant|||
|---|---|---|---|---|
|||fundingof|Support|Total|
|||activities|costs|funds|
|||2024|2024|2024|
|||£|£|£|
|Direct|costs|1,413,000|30,944|1,443,944|
|||Grant|||
|||fundingof|Support|Total|
|||activities|costs|funds|
|||2023|2023|2023|
|||£|£|£|
|Direct|costs|1,479,500|27,588|1,507,088|



## 

|||Total|
|---|---|---|
||Activities|funds|
||2024|2024|
||£|£|
|Supportcosts-bankcharges|163|163|
|Supportcosts-Auditors’nonauditcosts|14,500|14,500|
|Governancecosts|16,281|16,281|
||30,944|30,944|
|||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|





## 

||2024|2023|
|---|---|---|
||£|£|
|FeespayabletotheTrust'sauditorfortheauditoftheTrust'sannual|||
|accounts|14,500|14,271|
|FeespayabletotheTrust'sauditorinrespectof:|||
|Allnon-auditservicesnotincludedabove|16,281|13,173|



||Listed|||||
|---|---|---|---|---|---|
||investments|Cash||Total||
||£||£|£||
|Costorvaluation||||||
|At6April2023|20,470,334|728,977||21,199,311||
|Additions|1,426,061|-||1,426,061||
|Disposals|(1,935,386)|(471,298)||(2,406,684)||
|Revaluations|1,614,940|-||1,614,940||
|At5April2024|21,575,949|257,679||21,833,628||
|Netbookvalue||||||
|At5April2024|21,575,949|257,679||21,833,628||
|At5April2023|20,470,334|728,977||21,199,311||
|Attheyearend,thehistorical|costofthelistedsecuritiesheldby theTrust|<br>is£15,073,037(2023|||-|
|£15,403,353).||||||
|Withinlistedsecuritiesareoverseasinvestmentswithafairvalueof£14,378,221(2023|||-£13,361,283).|||
|AllotherlistedinvestmentsareatfairvaluewithintheUnitedKingdom.||||||





## 

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|11.|Debtors||||
|---|---|---|---|---|
||||2024|2023|
||||£|£|
||Duewithinoneyear||||
||Prepaymentsandaccruedincome||52,679|24,918|
||Taxrecoverable||3,400|3,480|
||||56,079|28,398|
|12.|Creditors:Amountsfallingduewithin|oneyear|||
||||2024|2023|
||||£|£|
||Othercreditors||78,214|145,500|
||Accrualsanddeferredincome||41,808|37,480|
||||120,022|182,980|
|13.|Creditors:Amountsfallingdueafter|morethanoneyear|||
||||2024|2023|
||||£|£|
||Othercreditors||47,500|35,000|
|14.|Analysisofnetassetsbetweenfunds||||
||Analysisofnetassetsbetweenfunds|<br>-currentperiod|||
||||Unrestricted|Total|
||||funds|funds|
||||2024|2024|
||||£|£|
||Fixedassetinvestments||21,575,949|21,575,949|
||Tradeinvestments||257,679|257,679|
||Currentassets||89,211|89,211|
||Creditorsduewithinoneyear||(120,022)|(120,022)|
||Creditorsdueinmorethanoneyear||(47,500)|(47,500)|
||Total||21,755,317|21,755,317|





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||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2023|2023|
||||||£|£|
|Fixedassetinvestments|||||20,470,334|20,470,334|
|Tradeinvestments|||||728,977|728,977|
|Currentassets|||||73,301|73,301|
|Creditorsduewithinoneyear|||||(182,980)|(182,980)|
|Creditorsdueinmorethanone|year||||(35,000)|(35,000)|
|Total|||||21,054,632|21,054,632|
|Reconciliationofnetmovement||infunds|to|netcashflow|fromoperatingactivities||
||||||2024|2023|
||||||£|£|
|Netincome/expenditure<br>for|the|period|(as|perStatement|<br>ofFinancial||
|Activities)|||||700,685|(1,444,907)|
|Adjustmentsfor:|||||||
|Unrealisedloss/(gains)oninvestments|||||(1,143,642)|991,822|
|Decrease/(increase)indebtors|||||(27,681)|85,793|
|Increase/(decrease)increditors|||||(50,458)|46,375|
|Netcashusedinoperatingactivities|||||(521,096)|(320,917)|
|Analysisofcashandcashequivalents|||||||
||||||2024|2023|
||||||£|£|
|Cashinhand|||||33,132|44,903|
|Totalcashandcashequivalents|||||33,132|44,903|



## 

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## 

|||||At|6April||At5April|
|---|---|---|---|---|---|---|---|
||||||2023|Cashflows|2024|
||||||£|£|£|
|Cashat|bankand|in|hand||44,903|(11,771)|33,132|
||||||44,903|(11,771)|33,132|



|Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno<br>obligationsexisted<br>inrespectofthesegrants.TheTrusthadnotindicated<br>itsintentionstothegrant|Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno<br>obligationsexisted<br>inrespectofthesegrants.TheTrusthadnotindicated<br>itsintentionstothegrant|Thegrantcommitmentsdetailedbelowarenotrecognisedasaccrualsbecauseasattheyearendno<br>obligationsexisted<br>inrespectofthesegrants.TheTrusthadnotindicated<br>itsintentionstothegrant|
|---|---|---|
|recipients,thereforenovalidexpectationwascreatedwiththeotherparties.|||
||2024|2023|
||£|£|
|At5April2024theTrusthadcommitmentsasfollows:|||
|Commitmentsinrespectofgrantsapprovedforprojectswhichhave|||
|notbeenaccruedinthefinancialstatementsbutwillformpartof|||
|grants:|||
|Withinoneyear|35,000|52,000|
||35,000|52,000|
|ReconciliationoftheGrantCommitments|2024<br>£|2023<br>£|
|Openinggrantcommitment|52,000|105,000|
|ChargedtotheStatementofFinancialActivityintheyear|(17,000)|(90,000)|
|Grantcommitmentswithdrawn|(10,000)|-|
|Newgrantcommitmentsintheyear|10,000|37,000|
||35,000|52,000|





## 

|Totalcharitablegrantspayableandcommitted|2024|2023|
|---|---|---|
||£|£|
|Accrued|130,000|180,500|
|Commitment(above)|35,000|52,000|
||165,000|232,500|



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