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||INDEX|Page|
|---|---|---|
|General Information|||
|Report ofthe Trustees||2-5|
|Independent
Auditors'|Report|6-8|
|Statement ofFinancial|Activities||
|Balance Sheet||10|
|Statement ofCashflows|||
|Notes to the Accounts||12-19|
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|Settlement|dated:|dated:||15th November
1968|||
|---|---|---|---|---|---|---|
|Settlor:||||Sir William Benyon|||
|Trustees:||||Catherine Rose Ingrid Haig (Chairman)|||
|||||The Rt. Hon. The Lord Benyon|PC||
|||||The Lady Zoe Lavinia Beatrice|Benyon||
|||||Lady Elizabeth Benyon|||
|||||Melissa Anastazia Victoria Owston|||
|||||Richard Ian David Bampfylde|||
|||||Richard Gareth GriAiths|||
|||||Andrew James Hutton (Appointed||13aMarch 2023)|
|Secretary|to|the Trustees:||Michele De Angeli|||
|Charity Registration|||Number:|258123|||
|Principal OAice:||||Englefield Estate Office|||
|||||Englefield Road|||
|||||Theale|||
|||||Reading|||
|||||Berkshire RG7 5DU|||
|Solicitors:||||Payne Hicks Beach|||
|||||10New Square|||
|||||Lincoln's Inn|||
|||||London WC2A 3QG|||
|Stockbrokers||and||Cazenove Capital|||
|Investment|Managers:|||I London Wall Place|||
|||||London EC2Y 5AU|||
|||||CCLA Investment
Management|Ltd||
|||||Senator House|||
|||||85 Queen Victoria Street|||
|||||London EC4V4ET|||
|||||Stonehage Fleming|||
|||||15 Suffolk Street|||
|||||London SWIY4HG|||
|Auditors:||||Saffery LLP|||
|||||71 Queen Victoria Street|||
|||||London EC4V4BE|||
|Bankers:||||Lloyds pic|||
|||||24 Broad Street|||
|||||Reading|||
|||||Berkshire RGI 2BT|||
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||||||Total|Total|
|---|---|---|---|---|---|---|
|||||Permanent|Funds|Funds|
||||Unrestricted|Endowment|year ended|year ended|
|Note|||Funds|Fund|31stMarch 2023|31st/tfarch
ZIIZ|
||INCOME||||||
|2|Investment
Income||200,107|471,409|671,516|557,037|
||TOTAL INCOME||200,107|471,409|671,516|557,037|
||EXPENDITURE||||||
||Raising Funds||||||
||Investment
management
costs|||12,122|12,122|18,695|
|3|Property costs||180,221||180,221|83,747|
||Charitable
activities||||||
|4|Donations||381,146||381,146|325,685|
||TOTAL EXPENDITURE||561,367|12,122|573,489|428,127|
||NET EXPENDITURE
BEFORE||(361,260)|459,287|98,027|128,910|
||GAINS/LOSSES
ON INVESTMENTS||||||
|7|Gains/(Losses)
on revaluations|and disposals||||1,930,000|
||ofinvestments
properties||||||
|8|Gains/(Losses)
on revaluations|and disposals|||||
||ofinvestments
assets|||(787,474)|(787,474)|679,448|
||NET (EXPENDITURE)/INCOME||(361,260)|(328,187)|(689,447)|2,738,358|
||Transfers
betweea funds||||||
|9|Transfer from total return for application||391,430|(391,430)|||
||NET MOVEMENTS IN FUNDS||30,170|(719,617)|(689,447)|2,738,358|
||RECONCILIATION
OF FUNDS||||||
||TOTAL FUNDS BROUGHT FORWARD||445,406|19,276,754|19,722,160|16,983,802|
||TOTAL FUNDS CARRIED FORWARD||475,576|18,557,137|19,032,713|19,722,160|
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|Note|||2023|2022|
|---|---|---|---|---|
|||||f|
||FIXEDASSETS||||
|7|Investment
Properties||5,780,000|5,780,000|
|8|Investments||13,047,647|13,835,174|
||Total Fixed Assets||18,827,647|19,615,174|
||CURRENT ASSETS||||
|10|Sundry Debtors||126,666|121,355|
|11|Cash at Banks||243,186|249,558|
||Total Current
Assets||369,852|370,913|
||CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR||(154,786)|(153,927)|
||Net Current (Liabilities)/|Assets|215,066|216,986|
||CREDITORS: AMOUNTS FALLING DUE IN
MORE THAN ONE YEAR||(10,000)|(110,000)|
||TOTAL NET ASSETS||19,032,713|19,722,160|
||Represented
by:||||
|15|Unrestricted
Funds||475,576|445,406|
|15|Permanent
Endowment|Fund|18,557,137|19,276,754|
||TOTAL FUNDS||19,032,713|19,722,160|
##
||||Note|2023|2022|
|---|---|---|---|---|---|
||||||6|
|Cash used in operating
activities|||19|(672,129)|(565,859)|
|Cash flows from investing|activities|||||
|Interest snd dividends||||665,704|482,605|
|Purchase ofinvestments||||(96,000)|(13,851,402)|
|Movement
in cash held for|investment|||41,668|734,812|
|Proceeds from sale ofinvestments||||54,385|13,268,347|
|Cash provided
by investing|activities|||665,757|634,362|
|(Decrease)/increase
in cash and cash equivalents||in tbe year||(69372)|68,503|
|Cash and cash equivalents|at the beginning ofthe year|||249,558|181,055|
|Cash and cash equivalents|at the end ofthe year||11|243,186|249,558|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|2|INVESTMENT INCOME|||||f,|6|
||Rent|||||200,107|195,796|
||Dividends|||||470,271|356,895|
||Interest|||||1,138|4,346|
|||||||8671,516|6557,037|
|3|PROPERTY COSTS|||||||
||Heat and Light|||||11,885|8,900|
||Property Repairs|||||153,917|53,145|
||Rent &Rates|||||814|550|
||Insurance|||||2,115|1,383|
||Professional
Fees||||||6,138|
||Management
Charge|||||6,000|6,000|
||Other|||||2,330|4,754|
||Governance
Costs (15%)|||||3,160|2,877|
|||||||8180,221|883,747|
|4|DONATIONS|||||0||
||Church
/ Religion|||||61,500|21,317|
||Conservation
/ Heritage|||/ Arts||54,800|22,500|
||Youth / Education|/ Community||||117,594|96,619|
||Social &Welfare
/|Support||||97,690|138,443|
||Overseas|||||12,000|15,000|
||Medical Research|/ Support||||7,655|15,500|
||HM Forces|||||12,000||
|||||||363,239|309,379|
||Governance
Costs|(85%)||||17,907|16,306|
|||||||8381,146|6325,685|
||Breakdown
between||institutions||and individuals:|||
||To institutions|||||361,489|309,379|
||To individuals|||||1,750||
|||||||f363,239|6309,379|
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|||||
|---|---|---|---|
|INVESTMENT PROPERTIES||2023|2022|
|Valuation||K5,780,000|65,780,000|
|Freehold Land||||
|Windmill
Common,
Mortimer - Agricultural|Land snd Woodland (1.75 acres)|45,000|45,000|
|Pamber Heath - Agricultural
Land (10.82acres)||125,000|125,000|
|Burghfietd - Agricultural
Land ei, Water (15.26 acres)||185,000|185,000|
|Theale - Land adjoining
Railway||25,000|25,000|
|||380,000|380,000|
|Freehold Properties:||||
|26 Stanbury
Gate, Spencers Wood, Reading||345,000|345,000|
|1-8 Rowlsnds
Close, Mortimer||1,990,000|J,990,000|
|Raids, Uflon Nervet||320,000|320,000|
|||2,655,000|2,655,000|
|Leasehold Properties:||||
|1-4StMarks Close, Englefield (99years from 29.9.72)||1,135,000|1,135,000|
|62A, 64 snd 64A Church Street, Theale (99|years from 19.3.76)|930,000|930,000|
|6,6a and 7 The Street, Englefield (85 years|from 24.6.88)|680,000|680,000|
|||2,745,000|2,745,000|
|Total||K5,780,000|65,7eo,ooo|
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|INVESTMENTS|INVESTMENTS||||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||f||
|Market value at|1stApril 2021||||||||||13,835,174|15,507,483|
|Additions|||||||||||96,000|15,851,402|
|Disposals|||||||||||(54,385)|(13,268,347)|
|Gains/(Losses)|on|revaluations||||and disposals|||||(787,474)|679,448|
|Increase/ (Decrease) in cash||||held for investment|||||||(41,668)|(734,812)|
|Market value at 31st|||March||2022||||||K13,047,647|f13,83$,174|
|Cost at 31stMarch 2022|||||||||||812,042,235|f10,425,022|
|The portfolio consists|||ofthe|following|||categories||ofinvestments|'.|||
||||||||||||At market|value|
||||||||||||2023|2022|
||||||||||||K|f|
|Venture Funds|||||||||||110,001|188,034|
|Alternative
Strategies|||||||||||3,866|5,622|
|Multi Assets Funds|||||||||||12,930,043|13,596,1/3|
||||||||||||13,043,910|15,789,769|
|Cash Accounts|||||||||||3,737|45,405|
||||||||||||13,047,647|13,835,174|
|Within these categories|||the following||||investments||had amarket|value greater than f500,000;|||
||||||||||||2023|2022|
|||||||||||||f|
|COIF Charities|Ethical||Investment
Fund||||||||6,485,093|6,825,397|
|Cazenove Charity Responsible||||||Multi-Asset||Fund|(RMAF)||6,444,950|6;770,716|
|TOTAL RETURN|||||||||Eadowment||Uaapplied|Total|
||||||||||||total return|Endowment|
|||||||||||f.|f||
|Brought forward|I|April 2022||||||||16,125,617|3,151,137|19,276,754|
|Movements|||||||||||||
|Investment
returns||(dividends|||and interest)||||||471,409|471,409|
|Investment
returns||(gains/losses)|||||||||(787,474)|(787,474)|
|Less investment|management||||costs||||||(12,122)|(12,122)|
||||||||||||(328,187)|(328,187)|
|Unapplied
total|return||allocated|||to income|||||||
|in the reporting|period||||||||||(391,430)|(391,430)|
|Net movements|in reporting|||period|||||||(719,617)|(719,617)|
|Carried forward|31|March 2023|||||||f16,125,617||f2,431,520|f18,557,137|
##
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|||||
|---|---|---|---|
|10|SUNDRY DEBTORS|2023|2022|
|||g||
||The Englefteld
Trust||388|
||Trade Debtors|3,462|2,536|
||Prepayments|2,153|3,629|
||Englefield
Home Farms Partnership|2,877|2,439|
||Accrued Income|118,174|772,363|
|||5126666|f)ZL355|
|11|CASH AT BANKS|2023|2022|
|||8||
||Lloyds Bank - Current Account|8243 186|4249558|
|12|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|2023|2022|
||Trade Creditors|6,744|4,359|
||Donations
Payable|125,000|120,500|
||The Benyon Trust|1,440|4,522|
||Englefield
Estate LP|38|520|
||Other Creditors|21,564|Z4,0Z6|
|||2154386|f(53,927|
|13|CREDITORS: AMOUNTS FALLING DUE IN MORE THAN|2023|2022|
||ONE YEAR
Donations Payable|210000|6
4111040.|
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|ANALYSI|S OFNET|ASSETSBETWEEN|FUNDS|||||
|---|---|---|---|---|---|---|---|
||||Investment
Properties|Investments|Net Current
Assets|Creditors
)I Year|Total|
|Year ended 31March||2023|||||8|
|Unrestricted|Funds||||475,576||475,576|
|Permanent|Endowment|Fund|5,780,000|13,047,647|(260,510)|(10,000)|18,557,137|
||||$5 7$0000|$13047 647|$215066|I 10000|f19032713|
|Year ended 31March||2022||||||
|Unrestricted|Funds||||445,406||445,406|
|Permanent|Endowment|Fund|5,780,000|13,835,174|(22$,420)|(110,000)|19,276,754|
||||$5 780000|$13$35 174|$216986|g 110000|XI9722 160|
##
|FUNDS|||||Unrestricted|Endowment||
|---|---|---|---|---|---|---|---|
||||||Fundf|Fund
f|Total
f|
|Total funds|brought|forward|||445,406|19,276,754|19,722,160|
|Income|||||200,107|471,409|671,516|
|Expenditure|and net|gain on revaluation||||||
|and disposal|ofinvestment||assets||(561,367)|(799,596)|(1,360,963)|
|Investment|properties|revaluation||gain||||
|Transfer between
funds|||||391,430|(391,430)||
|Total funds|carried forward||||f475 576|f18557 137|f19032713|
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|OPERATING ACTI|VITIES|||||||
|---|---|---|---|---|---|---|---|
||||||2023||2022|
||||||||6|
|Net movement
in funds|||||(689,447)||2,738,358|
|Deduct interest
income|shown in|investing||activities|(671,516)||(557,037)|
|Deduct gains/add
back|unreahsed|losses|on|property|||(I,930,000)|
|Deduct gains/add
back
Decrease/
(increase) in
Increase
/ (decrease) in|unreahsed
debtors
creditors|losses|on|investments|787,474
501||(679,448)
84/
~v|
||||||(672,129)||1'565,859)|
|Analysis ofchanges
m|net debt;|||||||
||||||At start ofthe year|Cash flows|At end ofthe year|
||||||8|8|f|
|Cash|||||249,558|(6,372)|243,186|
|Cash held as part ofinvestments|||||45,405|41,668|3737|
||||||294,963|(48,040)|246,923|
|PREVIOUS YEAR'S|STATEMENT||OF|FINANCIAL|ACTIVITIES|||
|||||||Permanent|Total Funds|
||||||Unrestricted|Endowment|Year Ended|
||||||Funds|Fund|31stMarch 202|
||||||||8|
|INCOME||||||||
|Investment
Income|||||195,796|361,241|557,037|
|TOTAL INCOME|||||195,796|361,241|557,037|
|EXPENDITURE||||||||
|Raising funds||||||||
|Investment
management
costs||||||18,695|18,695|
|Property costs|||||83,747||83,747|
|Charitable
activities||||||||
|Donations|||||325,685||325,685|
|TOTAL EXPENDITURE|||||409 432|18695|428 127|
|NET INCOME/EXPENDITURE|||||(213,636)|342,546|128,910|
|Gains on revaluations
and disposals||||||||
|ofinvestments
assets||||||679,448|679,448|
|NET INCOME AND NET MOVEMKNT|||IN FUNDS||(213,636)|2,951,994|2,738,358|
|Transfers betweea fuads||||||||
|Transfer from total return|for spphcation||||415,055|(415,055)||
|NET (EXPENDITURE)/INCOME||AND||||||
|NKT MOVEMENTS IN|FUNDS||||201,419|2,536,939|2,738,358|
|Reconciliation offunds||||||||
|TOTAL FUNDS BROUGHT FORWARD|||||243 987|16739815|16983 802|
|TOTAL FUNDS CARRIED FORWARD|||||8445 406|819276 754|819722 160|
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