| Trustees | The Ninth Earl Cadogan |
DL-Chairman | DL-Chairman | ||
|---|---|---|---|---|---|
| Countess Cadogan | |||||
| Lady Anna Thomson | |||||
| The Hon. William Cadogan | |||||
| Administrative | office | 10Duke ofYork Square | |||
| London SW3 4LY | |||||
| Secretary to | trustees | P M Loutit | |||
| Bankers | Coutts &Co | ||||
| 440 Strand | |||||
| London WC2R 0QS | |||||
| Investment Managers |
Schroder 5Co. | ||||
| 12 Moorgate | |||||
| London EC2R 6DA |
|||||
| Auditors | Dixon Wilson Audit Services | LLP | |||
| 22 Chancery Lane |
|||||
| London WC2A 1LS | |||||
| Charity registration | number | 247773 |
| Rector's | General | Rec'toi's | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted Income Fund |
Restricted Income |
Permanent Endowment |
Permanent Endowment |
Total 2023 | Total 2022 | ||
| Fund | Fund | Fuiicl | |||||
| Note | E | ||||||
| Income and | |||||||
| Endowments from: |
|||||||
| Donations and legacies |
2 | 1,987,035 | 1,987,035 | 552,471 | |||
| Investment income |
3 | 1,690,947 | 1,690,947 | 1,540,91fi | |||
| Total incoming resources |
3,677,982 | 3,677,982 | 2,093,38/ | ||||
| Expenditure on: |
|||||||
| Raising funds | 8,603 | 8,603 | 24,616 | ||||
| Charitable activities |
5 | 3,256,845 | 17,500 | 3,274,345 | 2,757,403 | ||
| Total expenditure | 3,256,845 | 17,500 | 8,603 | 3,282,948 | 2,782,019 | ||
| Gains/(losses) on |
|||||||
| investments: | |||||||
| Realised | 249,013 | ||||||
| Unrealised | 2,436,491 | 2,436,491 | (2,095,381) | ||||
| Net income/(expenditure) |
421,137 | (17,500) | 2,427,888 | 2,831,525 | (2,535,000) | ||
| Transfer between funds |
(17,500) | 17,500 | |||||
| Net movement in funds |
403,637 | 2,427,888 | 2,831,525 | (2,535,000) | |||
| Fund balances brought forward |
8 | 54,519 | 1,109 | 52,225,091 | 64,895 | 52,345,614 | 54,880,614 |
| Fund balances carried forward |
458,156 | 1,109 | 54,652,979 | 64,895 | 55,177,139 | 52,345,614 |
| BALANCE SHEET t 5 April 2023 |
|||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Note | E | ||||
| Fixed assets | |||||
| Investments | 54,725,432 | 52,288,941 | |||
| Current assets | |||||
| Cash at bank | 463,110 | 62,673 | |||
| Current liabilities - amounts |
falling due within | one year | |||
| Accrued expenses | 11,403 | 6,000 | |||
| Net current assets | 451,707 | 56,673 | |||
| Total assets less current liabilities |
55,177,139 | 52,345,614 | |||
| Funds | |||||
| UNRESTRICTED FUND |
|||||
| General Fund - income |
458,156 | 54,519 | |||
| RESTRICTED FUND | |||||
| Rectors' Fund —income |
1,109 | 1,109 | |||
| ENDOWMENT FUNDS |
|||||
| General Permanent | Fund | 54,652,979 | 52,225,091 | ||
| Rectors' Permanent | Fund | 64,895 | 64,895 | ||
| 655,177,139 | 52,345,614 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Net movement in funds |
2,831,525 | (2,535,000) | |||
| Add net losses gains on investments | (2,436,491) | 1,846,368 | |||
| Deduct interest income shown in investing |
activities | (701) | (863) | ||
| Deduct dividend income shown in investing |
activities | (1,690,246) | (1,540,053) | ||
| Increase in creditors |
5,403 | ||||
| Net cash used in operating activities |
(1,290,510) | (2,229,548) | |||
| Cash flows from investing activities |
|||||
| Dividends received |
1,690,246 | 1,540,053 | |||
| Interest received | 701 | 863 | |||
| Proceeds from sales of investments | 5,181,293 | ||||
| Purchase ofinvestments | (5,409,702) | ||||
| Net cash provided by investing activities |
1,690,947 | 1,312,507 | |||
| Change in cash and cash equivalents |
in the | year | 400,437 | (917,041) | |
| Cash at bank and cash equivalents | brought | forward | 7 | 62,673 | 979,714 |
| Cash at bank and cash equivalents | carried | forward | 7 | 463,110 | 62,673 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| f | f | |||||
| Distribution | from Lady | Cadogan | 1983settlement | 1,460,470 | 432,174 | |
| Distribution | from the Cadogan | Pension Trust | 13,442 | |||
| Donation | from Cadogan | Estates | Limited | 526,565 | ||
| 1,987,035 | 445,616 |
| 2023 | 2022 | ||
|---|---|---|---|
| f | f | ||
| Dividends from quoted investments |
194,957 | 123,523 | |
| Gross interest from quoted | investments | 198 | 760 |
| Dividends from unquoted |
investments | 1,495,289 | 1,416,531 |
| Gross interest from unquoted investments |
|||
| Bank deposit interest | 503 | 103 | |
| 1,690,947 | 1,540,917 |
| GRANTS | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| To charities supporting | social and | welfare aspects within the | ||||
| community: | ||||||
| Anglican Centre |
in Rome | 10,000 | ||||
| Ardington Church |
10,000 | 10,000 | ||||
| Chelsea Physic | Garden | 200,000 | 200,000 | |||
| Children's Trust |
150,000 | 100,000 | ||||
| Culford Village | Hall | 5,000 | ||||
| Dunkeld g Birnam Sports K Leisure |
Hub | 20,000 | ||||
| East Sutherland | Rescue | Association | 65,000 | |||
| Girlguiding Blairgowrie |
& Rattray District | 5,000 | ||||
| Glass Door | 100,000 | 100,000 | ||||
| Holy Tnnity Church PCC |
18,838 | |||||
| Lifeiites | 5,000 | |||||
| London Playing |
Fields Foundation | 75,000 | 75,000 | |||
| Maggie's | 5,000 | 5,000 | ||||
| Natural History |
Museum | 500,000 | 500,000 | |||
| NSPCC | 30,000 | 10,000 | ||||
| Prince's Trust | 25,000 | 25,000 | ||||
| Rainbow Trust |
3,000 | |||||
| Royal Horticultural Society |
200,000 | 200,000 | ||||
| Safe Families | 15,000 | |||||
| Samaritans | 15,000 | 15,000 | ||||
| Scottish Mountain Rescue |
5,000 | 5,000 | ||||
| Stable Family Home Trust | 5,000 | |||||
| Women's Trust |
5,000 | 5,000 | ||||
| Total charities supporting | social and welfare aspects within the | |||||
| community | 1,363,838 | 1,358,000 |
| GRANTS (CONTINUED) | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| To charities supporting medical research: |
|||||
| Alzheimer's Research Ul& |
10,000 | 10,000 | |||
| British Heart Foundation | 10,000 | 10,000 | |||
| Chelsea g Westminster Hospital —Best for you |
50,000 | ||||
| Cystic Fibrosis Trust | 5,000 | 5,000 | |||
| Downs Syndrome Association |
5,000 | 5,000 | |||
| JDRF | 50,000 | ||||
| London Air Ambulance |
50,000 | 50,000 | |||
| Moghissi Laser Trust Fund |
25,000 | ||||
| Moorfields Eye Hospital |
25,000 | ||||
| Parkinson's UK |
5,000 | 5,000 | |||
| Prostate Cancer Research | 10,000 | ||||
| Royal Brompton g Harefield |
Hospitals | 15,000 | 10,000 | ||
| Royal College ofSurgeons | 100,000 | ||||
| Royal Hospital for Neuro-disability | 10,000 | ||||
| Royal Osteoporosis Society |
10,000 | ||||
| Scotland's Charity Air Ambulance |
(SCAA) | 10,000 | 10,000 | ||
| StJohn Ambulance | 5,000 | ||||
| World Sight Foundation | 2,000 | 2,000 | |||
| Total charities supporting | medical research | 212(000 | 292,000 |
| GRANTS (CONTINUED) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||||
| To military charities: |
|||||||||
| ABF the Soldiers Charity | 25,000 | 25,000 | |||||||
| Coldstream Guards |
10,000 | 10,000 | |||||||
| Commonwealth War Graves Foundation |
25,000 | ||||||||
| F.A.N.Y | 17,000 | 15,000 | |||||||
| Guards Chapel Trust | 60,000 | ||||||||
| Guild Air Pilots Trust | 11,500 | 11,000 | |||||||
| Gurkha Welfare Trust | 5,000 | ||||||||
| Royal Hospital Chelsea |
—In-House | Mobility | Fund | 150,000 | 150,000 | ||||
| Taigh Mor Foundation | 50,000 | ||||||||
| Total military charities |
273,500 | 291,000 | |||||||
| 2023 | 2022 | ||||||||
| To charities supporting | conservation | and | the environment: | ||||||
| Blue Highlands Raptor Rescue & Avian |
Conservation | Centre | 25,000 | 25,000 | |||||
| Bumblebee Conservation |
Trust | 5,000 | |||||||
| I-lighland Wildlife Rescue |
Charity | 25,000 | |||||||
| Missing Salmon Alliance | 50,000 | ||||||||
| Thiriestone Castle Charitable Trust |
10,000 | ||||||||
| Total charities supporting | conservation | and the environment | 50,000 | 90,000 |
| GRANTS (CONTINUED) | |||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| To educational charities: |
|||||||
| City & Guilds of London Art School |
20,000 | ||||||
| Countryside Learning Scotland |
10,000 | 10,000 | |||||
| Foundling Museum |
10,000 | ||||||
| Friends of CCHT Federation | 30,000 | 30,000 | |||||
| Heathfield School |
100,000 | 100,000 | |||||
| National Horse Racing Museum |
25,000 | ||||||
| Royal Masonic Charitable | Foundation | 1,009,134 | |||||
| Royal Masonic School for Girls | —Cadogan | Hardship | Fund | 44,970 | 40,000 | ||
| Royal Masonic School for Girls | —Cadogan | Rose Bursary | 124,000 | ||||
| SRUC Oatridge Campus |
10,000 | 10,000 | |||||
| Tall Ships Youth Trust | 2,000 | ||||||
| Total educational charities |
1,231,104 | 344,000 | |||||
| 2023 | 2022 | ||||||
| To animal welfare charities: | |||||||
| Battersea Cats & Dogs Home | 10,000 | 20,000 | |||||
| Blue Cross | 25,000 | 25,000 | |||||
| Brooke Action for working | horses | g donkeys | 20,000 | 20,000 | |||
| Canine Partners | 10,000 | 10,000 | |||||
| Dogs Trust | 1,000 | 1,000 | |||||
| Game &Wildlife Trust | 50,000 | 175,000 | |||||
| Red Squirrel Survival Trust |
10,000 | ||||||
| Royal Veterinary College |
100,000 | ||||||
| WWF-UK | 5,000 | 5,000 | |||||
| Total animal welfare charities | 121,000 | 366,000 | |||||
| TOTAL DONATIONS | 3,251,442 | 2,741,000 |
| 2023 | 2022 | ||
|---|---|---|---|
| E | E | ||
| General | fund Income: | ||
| Audit fee | 5,403 | 5,403 | |
| 5,403 | 5,403 |
| GENERAL | PERMANENT | PERMANENT | ENDOWMENT | ENDOWMENT | FUND | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Market | ||||||||||
| Value at | ||||||||||
| LISTED | Cost | 5April 2023 | ||||||||
| E | ||||||||||
| 8,617,277 | SUTL Cazenove | Charity | Responsible | Multi-Asset | Fund | 4,997,653 | 4,565,433 | |||
| 4,997,653 | 4,565,433 | |||||||||
| Market | ||||||||||
| Value at5 | ||||||||||
| Cost | April2023 | |||||||||
| UNLISTED | ||||||||||
| Cadogan | Group Holdings | Limited: | ||||||||
| 4,982,083 | Ordinary | E1shares | 60,000 | 48,800,000 | ||||||
| Cadogan | Hotels Group | Limited: | ||||||||
| 3,923,390 | Ordinary | E1shares | 1,360,000 | |||||||
| 60,000 | 50,160,000 |
| UK investments listed |
||||
|---|---|---|---|---|
| on a recognised | Unlisted | |||
| exchange | investments | Total | ||
| Market value | at 5 April 2022 | 4,848,941 | 47,440,000 | 52,288,941 |
| Additions | 1,014,633 | 1,014,633 | ||
| Disposals | (1,014,633) | (1,014,633) | ||
| Net gain/(loss) | on revaluation | (283,509) | 2,720,000 | 2,436,491 |
| Market value | at 5 April 2023 | 4,565,432 | 50,160,000 | 54,725,432 |
| Historical cost at 5 April 2023 | 4,997,653 | 60,000 | 5,057,653 |
| 2023 | 2022 | |
|---|---|---|
| E | f | |
| Cash in bank | 453,882 | 44,842 |
| Brokers deposit | 9,228 | 17,831 |
| Total cash and cash equivalents | 463(110 | 62,673 |
| Rector's | General | Recto ra' | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted Income Fund |
Restricted Income |
Permanent Endowment |
Permanent Endowment |
Total 2022 | Tota I 2021 |
|||
| Fund | Fund | Fund | ||||||
| Note | E | |||||||
| Income and | ||||||||
| Endowments | from: | |||||||
| Donations and |
legacies | 2 | 552,471 | 552,471 | 810,616 | |||
| Investment income |
3 | 1,540,916 | 1,540,916 | 1,781,080 | ||||
| Total incoming resources |
2,093,387 | 2,093,387 | 2,591,696 | |||||
| Expenditure on: |
||||||||
| Raising funds | 24,616 | 24,616 | 26,822 | |||||
| Chantable activities |
5 | 2,746,403 | 11,000 | 2,757,403 | 2,492,881 | |||
| Total expenditure | 2,746,403 | 11,000 | 24,616 | 2,782,019 | 2,519,703 | |||
| Gains/(losses) | on | |||||||
| investments | ||||||||
| Realised | 249,013 | 249,013 | 305,855 | |||||
| Unrealised | (2,095,381) | (2,095,381) | (10,740,776) | |||||
| Net income/(expenditure) |
(653,016) | (11,000) | (1,870,984) | (2,535,000) | (10,362,928) | |||
| Transfer between funds |
(11,000) | 11,000 | ||||||
| Net movement funds |
in | (664,016) | (1,870,984) | (2,535,000) | (10,362,928) | |||
| Fund balances broughtforward |
8 | 718,535 | 1,109 | 54,096,075 | 64,895 | 54,880,614 | 65,243,542 | |
| Fund balances forward |
carried | 54,519 | 1,109 | 52,225,091 | 64,895 | 52,345,614 | 54,880,614 |
| Investments | Bank balances | Creditors | Total | ||||
|---|---|---|---|---|---|---|---|
| f | f | ||||||
| Unrestricted | General | Fund | 469,559 | (11,403) | 458,156 | ||
| Restricted | Rectors' Fund | 1,109 | 1,109 | ||||
| Endowment | Funds: | ||||||
| General | Permanent | Fund | 54,660,537 | (7,558) | 54,652,979 | ||
| Rectors' | Permanent | Fund | 64,895 | 64,895 | |||
| 54,725,432 | 463,110 | (11,403) | f55,177,139 | ||||
| At | 5 April 2022 |
||||||
| Investments | Bank balances | Creditors | Total | ||||
| f | f | f | |||||
| Unrestricted General |
Fund | 60,519 | (6,000) | 54,519 | |||
| Restricted | Rectors' Fund | 1,109 | 1,109 | ||||
| Endowment | Funds; | ||||||
| General | Permanent | Fund | 52,224,046 | 1,045 | 52,225,091 | ||
| Rectors' | Permanent | Fund | 64,895 | 64,895 | |||
| 52,288,941 | 62,673 | (6,000) | 52,345,614 |
| Payable | in | the | year to 5 April 2024 | 1,415,000 |
|---|---|---|---|---|
| Payable | in | the | year to 5 April 2025 | 1,050,000 |
| Payable | in | the | periods post 5 April 2024 | 2,450,000 |
| 4,915,000 |
| 2023 | 2022 |
|---|---|
| 6 | |
| 11,403 | 6,000 |
| 2023 | 2022 |
|---|---|
| 54,725,432 | 52,288,941 |