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|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|||
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||||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|
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|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|
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|||||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|
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||||||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|
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|||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|
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|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|
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|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|
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|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|
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|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|
##
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|||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|
##
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|||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|
##
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|||||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|
##
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|||||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|
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|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|
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|2023|2022|
|---|---|
||6|
|11,403|6,000|
|2023|2022|
|---|---|
|54,725,432|52,288,941|