E J Av*TI & Co Iamlted 178 Twyfonl Rd IA•Ddoo IIA2 OSN
Financi Resul Highlights Refuce and AdmInlstraii drtails of the Chartty. its Th&ea and advi$ Rep)rt ofthe Board ofTnts 315 Ind¢dent Exeminer's Rq Statement of finmGld thizl&8 Balance She& as * 31 De<embcr 2022 iolii Note on investments h¢ld at 31 Dmiber21J22: Investments hekl at morkrt vdue Note on donations as at 3] December21f22 12 13
Page I FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Total In¢om¢ 26,896 Charitable do1108 24.669 (2Q978) Net ll1 aossy8ain on investsn&ts (49.139) Year end value of inves 641995 123.037) 60.557 6134 urICted ofthe (*taTity 641564 691725
P2 TRusfEKS Mr M R WThite (CbaDThi) Mr R J O Holman FCA cfre4surer) MT5 K Caseley MT PDCNKtidMMAFCA Mrs C J Walters MSQ MRCSLT Mts C V M Davcy LL.B Mrs N stts Mrs E J Hopp Mrs A S*vffis Mrs E Bradshew Mr N J M Hud%)n Rev J Whittaktt SECRETARY AND AJIMINisfRATOR Mrs A J Holman CORRESPONDENCE ADDRLSS I l GaK)a Avthue SW15 6DY Bartlays Bank Pl¢ 60 High Street London SWI J CCIA knva8thient Manwert Limlted i Anxel tar£. Lmlcm EC4R 3AB Ass[Me12 SOuclRs M¢5srs Rwll-C(x)ke Solicitors 2 Putney lfjll LondLm SW15 E J Avari & Co Ltd 178 Twyford Rowl
ofthc TnfOrth¢yr4md 31 Eknber 2021 23 Au8Urt 2QI. ObJiw ofthe Tr•8t The po]ty ofthe ThL its atoty drd all knve6ti• (thiog as the shall think fiL biannually. Plan$ frJr2033 The gross inc(xue ofth¢ TTUSt ID 2022 tr)£896 C2021." £24.669) Ats 8dminikntsve exFVtsa% a1 y)van{x&S of£lJ40 (yr21: 4651% £14956 P021: £21018) was alIable for diskn.
Page 4 THE MtLES TRUST FOR THE pifThEY AND ROEHAMPTON commuNy REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 FINANCIAL REVIEW AND RLSUL13 (comlinued) The grants made by th¢ Tnistees in 2022 made up as follows: Youth 8.193 5.487 Community 14.450 14.750 Church 23 On 31 December 2022 the total asset less current liabilities of the Tn Including quoted investments at middle m8rket value, amounted to £641,564 (2021: £692.725). During the year there w¢re unrealised Oosses) on the Tn'S investment holdings of £49.139 (2021: net u¢allS¢d gains of £60,557) shown in Note 2 on pa8e I l. The tntee8 have tsken the view thaL as a long-terni investor. the interests of the Trust ar¢ be3t served by remairring fully invested. The results for the year are Sthout in detsil on page 8. Investment Poliey The Trust is a long-terni investor. The trustees decided some years ago that inv¢stm¢nt management should be dele8ated to specialists with expertise in acting for chan'ties. The t currently invests in funds manag¢d by cc M&G. Black Rock and Propety Income Trust for Clwities. The trustees also agreed that the TTUSt's px)rtfolio slKfvuld contain a mix of fixed interes¢ equity and property funds. The fixed interest funds are to ensurc st¢ady income and some Wital protectio the equities are intended tt) provide capitsl gro} and income, while the property fimds rq)res¢nt an alternative fonn of asseL The trustees recognise that equity investmcnts are more volatile over short period. Although the trnstees are able to pay grants out of capital. they aim to cover almost all annual grants out of regular incotn¢. tn 2022 the fixed inteT¢St fimds decre by 13.20/• (2021.. de¢re¢d by 5.06Yo) in vajuc and the income yield w&$ 2.48 % (2021:2.48 %). Eluity funds showed capitsl reduction of 4.610/0 (2021: capital appreciation of 11.9010). Of the Trust's totsl investment holdings at the end of 2022, 740/0 were in equity fund&15 % in fixed interes¢ and I IO/ts in property in¢oni¢. The trustees are satisfied tbat their inveslment pKJli¢y is pnmlent and relatively low risL whil¢ also being able to generate steady income for distribution to the orgaDisations that the Trust supports. Additional inforniation on the Trust's inveslments Can be in Not¢s 2 and 6. on pages I l and 12 respectively. Rtsk M*nag¢ment The Trustees have &ssessed the major risks to which the Charity is expw(L in particular thos¢ related to the operation, investments holdings and finances of the clwity, and are satisfied that systems are in place to mitigate their ¢xposur¢ to tbc maioi risk&
Pag¢ 5 REPORT OF IEE ARD OF TRUSIELS FOR rn YEARENDED 31 DFLEMBER2022 Rbk Management {coDliiuul) On 25 May 2020. the Gene4al Da Prot&on klon (GDPR) ca¥nc into for¢a Data pn)tection and infoTmation govrnancc w¥licies arc in pkn and ate Thiewe41 to ctLsure that the internal pr(w are robust and rnpty with any new legislrtivc or regulatory requircmen Ruerve Poli The Funds ofthe Tn u1]IBS and th¢ TneJ knve re¢d forthc Jxrwt to mntaIn the rnt level ofgrants during the years it ncrt cxGced the t(rt of income on investh)ents. This p)licy is $ubjeGt to ryularr¢view. Taking into account the unrtsljzed (Icw) of (£49.139) (2(Y21: unrealiTht itivestmQtt gain of 60.557X there is att unfavourabk Det IDI)vinent Iluxls for the yw of (£51.161) 12021: gain of £59.538). IDdepeDdeMt Ei#miMer E J Avari and Co. Limitoj have expres*l their willingness to Continue in offKe 49 th¢ 1Th4q)endeot Examintr and a rcsolution to EcapIn¢ than will be wop)s&l at the AnllU Gtr Mectin The Jrwt ofthe w88 apwoved ott 12 a 43 and Sign on its bdfby". M R White (ChainnaD)
Page 6 I report on the unaudited accowts of the clwity for the year omkd 31 Dfyxmber 2022 which a set out on pages 8 to 13. ReJpe¢tive reJpoDsffibillkne8 of trM8teu examlner The charity's trustees are responsible for the preJ>aMion of the acut& The ¢lwity's tn consider that an audit is not requircd for this year (under Section 144(2) of the cknities Aet 2011 (th¢ 2011 Act) and that an indewent examIOn is r4uir&l. The clwity's gro incom¢ did not exceed £250.0 and l am qualified to undotskn the examinth by Eeing & qualified member of thc A$8o¢Èation of It is my responsibilty to: Examine the accounts under Section 145 of 2011 ACL To follow the wcedures laid down in the GeDttal DI109 given by the Charity Con]mi5Si (under Section 145(5Xb) of the 2011 Act}: and . To stats particaT matters have come to my attentio Basis of the IDdep¢ndMt examlDer's report My exam1rOn was carried out in w)[dan with the General Directions given by the Charlty Con)missioty An eXaMitiOn inclth a review of the &counting records kept by the charity and a comparison ot the accounts Presented with those TKollts. It a180 includes wnsideration of any un items or disclosures in th¢ a¢unts. and s¢eking explaDatioDS from you a8 trstee$ ¢ern any such matters. Tr procedures undertaken do Th)t provide all the evidence that would be requitsl in an audi( and cons¢qwitly. no opinion is given as to wtrdier the aOUnts pSeth a 'tnx and fair view, and the report is limited to those n)atters set out in the Statem below. nd¢p¢Dd¢nt examlner's st*tement (l) which gives rea8onable ¢aw¢ to belÉ¢ve thaL in any Duler1 respecL the requirements to keep records in a¢cordw WAth Se¢tion 130 of the 2011 A¢ and to prepare accounts which xcord with the xcounting TOrdS to comply w2th the awuntin8 Itquirements of th¢ 2011 Act have not been met: or (2) to which, in my Opinio attattioll stK)uld be dtawn in onler to enable a proper und$th8 of the accounts to be EduIji J A BCOM. MAAT E J Avari & Co Limited Th¢ Association of AccountiD8 TeChtiicia8 Licence Number 1004948 178 Twyford Road Harrow, Middle London HA2 OSN uKJk 1013
2021 cOmc RESOURCES Admlnistration co 1.915 71X) 736 Charitabl¢ thy110 NET (OUTGOtNG) RESOURCKS 022) (1.019) Net unff41ised Oossygains on inv¢stIllr$ IiINFAVOURABLEy FAVOURABLE Nzr
Page 8 Notes 2022 2022 2021 tNCOMtNG RLSOURC Incoming resources from 8M•rated famds Inve8tmeDt inefjme Bank and Other Interest: Gr(kss ]ncome from Chthrity Fund 13 13 Admlnbtratlou Cwts Gov•rnaDee eofjt Ex&min¢r's fees Charltable Do•allo Youth (&193) (14.450) (8,193) (14.450) (5,487) (14.750) Church 97 97 91 N¢t (ruourt¢s) expad¢d lth olthtt gai48 & Ie• (1022) (T22) (1,019) Net unrealised (lossy gain OD Inv¢stm¢nts (51.161) (51,161) 59J38 Reconciliation of Funds Totsl Funds brought ftrwwd •¥ previousty ryx)rted at 31 tkccmber 2022 Thc statement olfinanciaI &aivitio4 inchmks all gains S1 zwni7£d in theyear. The note5 rn FVS 10 to 13 foym part ofthe5¢ 3¢#iunfflt&
cHTyUMBER 246784 BALANCE SllEET AS AT 31 DECEMBER 2022 2022 2021 FIXED ASSETS ou(TrED NVESThEFllS Inv¢sttnents at Middk MaEkrt VaiuÉs . WiderRan8¢ tnvethmts 641995 692.134 Sundry Debtors Cash at bank and In hand . Community I30 . COIF Ctthrth¢s Dwit Fund LQL7 630 1.188 Credltors: knouts f118 duè wlthin one year ASSE13 T(yfAL ASSETS LLSS These financlal have kn 8wroval by the Tntstees on iz 2023 and are signed on their behalf by: M R White
Page io 31 DECEMBER 2022 These financial statwents have ircn prepar in compliance with FRS 102 'The Financial Rep)rting Standard applieable in the UK and the RelIC ofknd,, the Stonent of R¢commended Prndic¢-Aco)Uffling and Rcp)rting by awiti¢5 (SORP 2019) applicable to charities preparing theiraccounts iti Wrdantr with the Financial Rwing Standard applicabk in the UK and RwbliG of Ircland (FRS102) (Charities SORP (FRS102) and the Charities AL# 2011. 2. ACCOiJNllThG POLICILS The followin8 accountin8 wli¢ies have beth used c¥)nSiY in knJia8 itans whick ar¢ (a) BAsh of Accoutttia% Thc fllthn¢ial staternts aTe prwed under the historic convention. The ctharity has tsk adv2nta8e ofthe exemption in Finala1 Rwtin8 staJr Nol from the to oduc¢ a flow Slatell (m the grounds th8t it is a small charity. (b) Pr¢paraliofj of rtatemr4ts- Goiy Cone•Tr b•l• OD the basis 0fVrent financial projections and after making such enquiries as are considcrcd appropriat4 the InLcts do not gnticipate any changes to the Tn&'5 optratiOD in the foreseeabl¢ fi2tur4 2t le twelve months the date ofsftgnin8 the financial stat¢m¢nts. H¢nce the trustees ntinue to adopt the going ciffjcan in wing the financial statQDLYrts. {c) IDvents.UDrealued GalM• & Investrnents are shown in the balm Sheet at thcir mthet valu4 as indicated by individual fimd matw. Ihe unrealised gains and losw inve&ments shown in the financial statema)ts relate to the movonort in Ik market Val of the trfolio during the financial year. (d) IDveJtm¢nt Income Credit is tskn in the Statanmt of Filia1 ActsVit in year dw whicth inv¢sknent inrne is received or tttomes roxvabk (e) Chari14bl¢ DoD&tioms Ch8Titable doDadons are m•1e at th¢ d&s10n ofT ar¢ debtt¢*a to tht ststemcnt of financial a1vineS in the year in vA]ich they aw3rd¢
Pa8¢11 2022 Publithed Total loss Value Market Value As at i January 2022 unrealis (loss) OD revaluatioD at 31 £22 Carrying amount at 31 Deceth 2022 691134 3. DEwfoRS 2022 2021 ONE YEAR 2021 Unc14tmed Audit Fee4 relating to prior yws 700 615 5. AhlALYSIS OF NET kqSEI3 BY rn 2022 2022 Unrestricted Total fimd Quotaj invethents Cpsh at bank and in IWMI 641995 2.627 642.995 1627 CrEditOf5 Net AsRts at 31 Decantv 2(r22
Page 12 Flxed I*¢eTe•t CQIF chariti Fixed Intuest P1 43294.69 Units M & G Charilmx 44,188 Units UK F4uhl M & G Charifiuml 14,035 Incom¢ Units Black Rock Merrill LyrKh Clwis 38.8(KJ Inmc Units E8tate Proity Tncome Thist forawiti 88287 Unxts tW96.51 SO.126 54768.79 47.800 11&527.59 20Q242 99.WlJ6 267.882 Total (Not• 2)
Page 13 31 DECEMBER 20n (CONTINUED) 7 DONATIONS: YOUTH Small Steps for Parents Shine Agaiti Wandsworth Bm8h (Btandlehow Schc•)1) 12(Kl Wandsworth Boxing Club St Mary's Church of ED8land ScJKM)I 5(K) R¢generatr.com 695 5(Ki Our Lady of Victories SclKY)I I)ovcr House Lion5 FC 5( Roehampton Churth Sknl Cobra Boxin8 Club 790 1,000 1,750 {413) 920 Putney Relief Committee Friends of Wandswonh P*k Wimbledon & Putney CIKnmons Conmat(Ys The Wednesd&y Club National Schizophrettia So¢iety Lymie Corw)ration (Alton Eslate Arts) Wandsworth Bereavement knie R¢gencrat¢ Rise Hom¢start Wandsworth Wandsworth Prison Chaplaincy Royal Trinity Hospice Clothe Me Thank you 4250 5(Ki 500 u( 1.750 250 15(N) 1.500 1,000 750 500 Ri¢hrnond & m¢dlSt CIrlt St Margaret's Church Curatel A&sistant Priest St hl8ry'S Parish of Putncy- ScrublKry proiert Holy Trinity. Roehampton PCC Vicar ofAll Saints. Puthey T¢am Rlor of Putney (StMary'8) 1,000 51VJ 200 iJ(M) iJoo 335 250