THE ENGLEFIELD CHARITABLE TRUST FINANCIAL STATEMENTS for the Year ended 31" March 2024 INDEX Page Genal Infomiation Report of the TSteeS Independent Auditors, Rqx)rt Statement of Financi31 ActivitAes Balanc¢ Sheet io Statement of Cashflows Notes to the Accounts 12- 19
THE ENGLEFIELD CHAIUTABLE TRUST GE]YERAL INFORMATION Settlement dated: 1 Sih November 1968 Settlor.. Sir William Benyon Trustees.. Catherine Rose Ingrid Ilaig (Chairman) The Ri. Hon. The Lord Benyoi) PC The IAdy Zoe Lavinia Beatricc Brnyon Lady Elizabeih Benyon Melissa Anastazia Victoria Ows¢on Richard lan David Bampfylde Richard (Tareih Griffiths AtKlrew James Hutton Secretary to the Trustees". Michcle D¢ Angeli Charity Registration Number". 258123 Principal Office.. Englcfield fstate Office F.nglefield Road "lTheale ReadÉng Berkshire RG7 5DU Solicitots: Payn¢ Hicks Beach 10 New Square Lincoln's Im) London WC2A 3QG Stockbrokers and Investment Managers.. Cazenove Capithl l London Wall Place London EC2Y SAU CCLA Investment Managetnent Ltd Senator House 85 Queen Victoria Sireet Lnndon EC4V 4ET Stonehage Fleming 15 Suffolk Street LA)ndon SWIY 4HG Auditors.. Saffery LLP 71 Queen Victoria Sire¢t London EC4V 4BE Bankers.. Lloyd5 plc 24 Broad Street Readu Berkshire RGI 2BT
THE ENGLEFIELD CHARITABLE TRUST TRUSTEES, REPORT The Truste¢s presenttheir RqKJrt iogetherwith the audiied financial staiements forthe Trtl for th¢ yearended 31" March 2024. Th¢ legal and administrntive infornialion sei oui on page I fornis part of this repon. s'rRL'CTURE, GOVERNAf4CE AND MANAGEMENT Constltutlon The En¥lcfield Chari¢able Trusi is a charithbl¢ trust for general ¢han"table purpos¢s koverned by a Charitable TNgL Deed dated 15, November 1908 and ¢OnSiiwied an unincorpord¢¢d &s%0¢iaiion. Clause 4 of the Chariiable Trust Deed provides ihat the'fNsre&s may apply the 8miual income and the original expendable apitol of the Charity for such Lharitable objects as the Tw51e¢s Tnay irt their absolute discrction thitik fit. By dceds and conveyances daicd 25 March 1969 and 19 July 1970. Sir William Benyon gav¢ the Trnstees various properties to hold as a penn8neni endowment fund for ihe Charity. Trustees Tru4te¢s are re¢TUited and appoinied so as ensure that the i¥)ard a5 a whole tios a ronge of compeiencie6 and exp¢ri¢nce appropriate for a Erani makin8 charily of Ihi% %izc. New TrUStC ar¢ provided with a 11 induction ¢0 the charity and training is provided where required. Tstc% are 8ppointyJ by the board iti general meeting. They havc re¢¢ived no remuneration nor has any person ¢OnntCd with ihem. Truslee$' respottsibRlili¢s TheTrnsiees are 5pon%1ble for preparing theTrnsiees' Reportand the fwancial $tsiemcniS iti accordance with applicable law and United Kingdom Aecounring Standards (Unii¢d Kingdom Generally ALeepted Accounting Praeticel. The law applicable to charilics in England & Walcs requires Ihe TnL4te¢s io prepare fjnancial siatements for cach fthancial y¢ar which give a trne and fair view of the state of affair5 of the charity and of the inci)mthg resourc&¥ and appli¢ation of regources of the clwity for tha¢ period. ID preparing thesc fmancial $tatemcnt&. the Ittee is requircd to.. s¢l¢ct suitsble accouniing policies and ihen apply ihem ¢onsistenily- observe ihe method5 aTxd pnncipleg in the Clwities SORP; make judgements and estimates ihat are rcosonable and pnLdcnl,' state whether applicable accouniing Standards hav¢ been followed, subjeci to any marIal departures disclosed and explained in the financial siat¢mcnl&': prepare the fjnancial giatemenis on the going concern basis un1¢55 it Is Inappropriate io presume that the charily will continu¢ tn bustness. The TTU$tees are rtsponsibke for keeping proper arxounling records ihat disclose wilh reasonable acLuracy ai any time the financial position of the chariiy and tu enable them to cnsure that thc financial statetnent Comply with ilie Charities Act 2011, the applicable Chari¢ies (Accounts and Reports) Regularions ?(X)8, and the provision of ihe'frusi deeds. They ar¢ also w%ponsible for safeguardin8 the asseis of ihe Charity and taking teAsonabl¢ steps for th¢ prevention and deteetion of fraud and other kffe8ulariii¢s. Th¢ fjnanciai siaiements have been prepared in accordance with the aCUting po15cie5 $et out in ttotes to the accounts and comply with the charity'¥ governing durnent. the Chariii¢s Act 2011 and Accounting and RertIng by Charities.. Statem¢nl of Recommended Prdctice applicable chariiies prcparing th¢ir accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ir¢iand second e41ilion. Organlsatioll#l structure Major d¢¢isions relatin¥ to the strategy and plicies of th¢ chwity are made by the Trugtees as a board. Ai half yearly Tru¥tees' meetings, the 1.ste¢S agree the broad stra8Y and areas of activity for the Ch8rity, includin&T consideration of gr4)nt tnaking. investments. reserves and risk management policies. The day to day administration is carried ou¢ by the Engl¢field E.%tatc office and this is supplemenied by the Secrei8ry who assists the Trustees with the goveniance of the OTganisation and mattagement of the 8r8ni expenditUTE. Rlsks The major rtsks io which the chariiy is exp03ed, as ideniifi¢d by the Twstee5, have bccn reviewed and the Trusiebs are Satisfied ihai system% have been esiabli5hcd to miiigai¢ these tixks. The Truste% recognise thai one of the main risks Ih¢y facL includes the pcrformance of ih¢ir investsnenrs. To rnitIga this risk. invcsunenis. are held by rcpuiable iiivesiment managers authorised by the FCA and Trnstees r¢ceivc quanerly perfomianLe reports and meet Lwice a year wilh the iftvesiment managers w review invcstmenr perfoTTnanre a¥ainst recogtJiA bert¢bmarks.
THE ENGLEFIELD CHARITABLE TRUST TRUSTEES, REPORT OBJECTS Af4D ACTIvrriEs Objeetlv¢s #nd Alms It i¥ the objcct ol the clwity is 10 act as a grani making irust and respond to Icquc4ts for fUncl81 a%sistsnce on their mcrils. giving partitular cottsideration to causes in lh¢ BeTk%hire area. It is thc policy of tlie Trusttc%, iaking one year with another, to distribute the whole of the nei income of ihe Chariry to other chwitable at]d qualifying iiistituiion¥ and good causes. The Charity does not aciively fundraisc aThd sttks io ¢ontinuc its charitabl¢ work through the ¢arcful stewardship of its ¢Xigling resources and pernianent endowmeni. Strategy The Strategy of the TnLStees is io maximise the tothl rewrn from its PernWnt endowment through the following.. invest car¢fvlly in the fabric of the Trust's land alld buildings. improvg the rcbjrn from ihe Trus¢'S investments: review ihe perforniance of the Tn]si's investment managets on a regular b1$,. aftd consider altcrnalive invesunents as oppominiti&s arise. Through maximtsing the to(al return thc TnJsie¢s will bc able to provid¢ a larger numb¢r of grants to local charitable cAug¢s. Grantmv4kSng policlei The grant making policy adopted by the Trnstees is for applicaiions to bc completed by the grantces which outline thc reasons for th¢ Lirant and the background of their charithble organisation. At ca¢h Tn]5tee me¢ting ihe TNstees rLvicw ¢ach applicatiotj on its merits to cnsure tha( the donations made will providc the greatest impact possible. The type5 of organi5Atkons supported by Ihe Trust include.. Local churches and religious groups Local conservation. heritag¢ and arL* charitable organisatlons Local youth, cducalion and communiiy charitsble organisauons Local social and welfare projects Overseas proje¢ts FIM Force.1 charities PUBLIC BENEFIT Taking fully into account the objeciives and aims, Ntralegy. significant activilies and grantmaking poli¢i¢3, thc Truglee$ have nclUded ihai the trt rnccts the public benefii requiremeni be¢au%e= 11 Ihe benefit that arises froTll the tni¥t's aim5 is that the tntst is able make substsntial grants and donatio[ to other charitics., 21 the tru%t's aims intend to ben¢fi¢ oth¢r charities.. 31 therc are no resiriciions on who ¢at] have tbe opNTrrtimiry to benefii and 41 nobody receives any private benefit from the trusL Th¢ Trustees have given due regard io the Charity Commission's guidance ott public Ixncfil. FUNDLL4ISJNG The Trustees tak¢ their resp)Thsibility under the Cbarities (Pmtettion and Social Investsnent) Ac¢ 2016.8eriously and have considere41 the iTtiplications on their activiiics. The charity docs not raise fvnds direcily from ihe genvTal public and does not activ¢ly 8olicit donaiioDS. Therefor¢, the trnstees do not Consider li necessary 10 hav¢ J fonnal fundraising policy in place. The Tru¥tees are not aware of any complaints made in respect of fundraising during the period.
THE ENGLEFIELD CHARITABLE TRUST TRUSTEES, REPORT ACHIEvF.lETr4Ts LND PERFORMANCE Charltable acilvities undertaken The Trngtees have coniinued their operation5 of providing affordable housing 10 tenants on low incorn and of making grant% and donations to 10¢21 and oih¢r charithble bodies. Investment performance v. Investment objectives The total return perfom]ance of the portfolio w&8 an incrtase of I l. lQ/fj for the year endcd 31° March 2024 which includes CCLA Charities Invesiment Fund +13.1/o and Cazenove Capital 9.9•A. This wmpar¢s with UK RPI +4.39/0 and world equity markets (MSCI World Index) +22.50h. Donatlons In thc year ended 3151 March 2024. the TTUSittS made donations of £314.639 (2023.. £363.239) as srl Out in noie 5 132 (2023.. 1351 donations were made. varying size from £150 10 £12.500. 230 {2023.. 214) applicAtions were r¢cKived during the year and the Tnjstees continued their policy of exatnining each one on its merits. Fa¢ftr5 relevant to *¢hievement ofobjective The faLto¢s relevani to the aLhievement of the"I'ALSi'S Objectiv include.. the emplOY¢nt of professional advisors. an annual review of tsrgets to improve th¢ return from invegtmenis. monitOTing the achievement oran increase in the qualiiy of Trust assets and iftvestm¢nts: and an updated risk agsessment. FINANCIAL REVIEW Rtvlew of financial position The Charity is entirely rcliani on ihe in¢omc and invesim¢n¢ rn9 from its pcmianeni endown¢nl. The Charity Unrestrivttd Fullds generaLed net income 3ftcr property Costs but bcfore charitable cosis of £19,031 (2023.. £19,886) and incuTred costs of £337.664 (2023.. £381.146) on its ¢haritsble activiiies. Net expcndiiure before transfers durll ¢be year wa% £3 18,633 12023.. £361,260). Following the transfer from total return for 8ppli¢ation fo thc unresiricied fund of £420,508 {2023: £391,430), ¢he net movcmen( on funds w&% an increa5¢ Of £101.875 (2023.. £30,170) for the year which increased the value of its unresiricted funds (0 £577,45112023: £475,576). The Charity incurred a net surplus on the Endowment FuTd of £1,453 J97 (2023.. £328.187 deficit). This comprised £484,21 l investment income (2023.. £471,409). a £981.091 gain {2023.. £787,474 lossl on the investment portfolio, £11.905 (2023.. £12,122) investmcnt manag¢m¢nt feu on the inv¢stment portfolio. Reserv Total free reserves at 31$1 March 2024 were £577.451 {2023.. £475,576). As Stated alx)ve. under the Objeci of the Chariry, it is the policy of the TTUStecs to dis¢ribui¢ ihe whole of the charity's income and noi to hold reserve& exeepi when e¢e&sary. At the 3151 March each year the Charity would expcci rtserv¢s to be approxirnately equivaieni io the next year's total eXpendine. Permanent Endowment Fund The pmnaneni endowment fuftd repru¢nL% the cumi maTk¢t value and proceed$ from s8le of the original property given by Sir William B¢nyon. 108ether with the capithl profL¢3 or 10&8es arising from revAluation and reinvestsnent of those aysets. Uurestrlcted Fund Surplus income Aol distributed durirtg the year is added to the genetal unr¢strlcd fimd and is available for future charitable diytribu(ions.
THE ENGLEFIELD CHARITABLE TRUST TRUSTEES, REPORT Prlllclpal funding Sources The principal funding bource of the ch8riiy is inv¢s¢mcnt income. ExpendIts¢ iti year undtt review has sUPPOrted the key objectives of the charity by aSSiSling lo] and other charitable bodies. Investment policy 4nd objectives Clau¥¢ 7 of ihe Charitablc'l rusi Deed providcs thai th¢ Trustee %hall have unre%trÈcted powers of inve%ting in all respects as if ihey were absolutcly eniiiled io the TtU81 Fund b¢neficially and subject to no re&triciion with Tcgard ro advi¢¢ in relation (o investmcnt. In pracii¢e, Lt LS the policy of ihe Tnlet$ to maximi5e investmetti income in the long *rni by invesiing in a balanced portfolio of investmenis weighted iTt favour of equities. Th¢ iticrease in the value of the investmenis over the current y¢ar ig due to the fluctuation of the stock markei. Plans for the future The TnLStces' plans for the future are to.. iticrease over tirne the amount of donaiions to ¢hJritics- and explore further opportuniiies for investhieni. The twstee5, therefore, cottsider ihat the clwrity is abl¢ to operare for at least 12 months from thc dale of signing thc acLounts and, as such, is a going conccm. Signed on behAlf of the Trustees Englefield Estate Office Theale Reading Berkshire RG7 5DU Catherine Haig Chaimian (jf TnESttts 23rd September 2024
THE ENGLEFIELD CHARITABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE ENGLEFIELD CHARITABLE TRUST Oplnlon We hLvc audited the financial siatements of The Englefi¢ld Charitabl¢ Trust for the ycar ended 31 March 2024 which Comprise the Stament of flnancial actlVLties. balance 5he¢t..%tatcment of cash flows and noies (o ihe financial stai¢ments. includitig ssgnificant accouniing policic5. The financial rcwirting frdmework thai hag been applied in their preparatlon 18 applicable law and United Kingdorn Accounring Standards, including Financial RepOrtll Siandard I02. the Financial R¢porting Stsndard applicable in the UK and Republic of Ire18nd Iunktcd Kingdom Generally Accepted Accouniing Practice). In our opinion the firtala1 statemertls: give a tnJ¢ and fair view of the S{¢ of thc chariry's affairs as 8131 March 2024 and of Lis incoming resources and application of rcsources for the then ended. have been properly prepar¢d An accordance UDit¢d Kirtgdom Generdlly Accepted AoGounting Practi¢e; have been prepared in accordan¢e with the requirements of the Charities A¢t 2011. Ba$1% for opinio We conducied our audit in accordallcc with International Standards on Auditing (UK) (ISAS IUK)) and 8ppIic8ble law. Our responsibiliiie5 under ih05e standaTd% are further dwribed Èn the Auditor's responsibilitie¥ foT the audit of thc finanLLal sraiem¢nt8 %ction of our reEX)rt. We are indeI)dent of the charity in accordance wirh thc eihical requircrnents thai are relevanl to our audit of the flnancial siarements. In the UK, including the FRC'S Ethical Standard, and wc have fulfilled our othcr ethical responsibililies tn accordance with these requirements. We believe thai the audit evidence we have obtained is sufficient and approprial¢ to provid¢ a bL4is for our opinion. Conclu%ions relating to going eoncero In auditing the fman¢ial statcments, w¢ have ¢on¢lud¢d that the trustees. use of th¢ going eoncern basis of accounting irt the preparation of the financial siatemcnts is appropriate. B&%cd on the work we have perfornied, wc have not idenufied atty maierial uncertainties relating to cvenis or ¢ondition8 that, individually or colleciively, may casi stgnificani doubt on the chariry's ability io coniinu¢ &$ a goit]g wncern for a period of at least twclve months from when th¢ fthan¢ial 4taiements are authorised for issue. Our respon5ibilitie8 and the responsibilittes of the tru$ttcs with respeci io going concem are dcscribed in th¢ rclcvant sections of thi4 report. Other information The trusteey are responsible foi the other infomiation. The other inforntiOll compri8¢s thc irtfornu4tion included in th¢ annual report, other ihan thc financial stat¢ments and ouraudiior's report thereon, Our opinion on ihe financial statem¢nts does not cover ihe other infomiaiion and. except to the extent otherwise expliciily stated in our report. we do not ¢Apre5S any lorm of assuran conclu.¥ion th¢r¢on. Our re.4ponsibility is to rc2d the other information and. in doing so, consider whether the oiher informatioll is materially incon%i¥ieni with th¢ financial siat¢ments or our knowledge obtained in the course of the audii or othcrwise appears to be materially missrat¢d. If wc identify such material in¢onsistencic5 or apparent material mkss(aiement%. we are required to deterniine whether this giyes ris¢ to a maieriol missthternent in the fthaDcial slateEnenis ihemselvcs. If, based on the work we have perfornied. we conclud¢ that thu¢ is a material missiatement of this other inforniation; we are r¢quired to report that faci. We have nothing to report in this rc¥aTd. Matters on which we are requlred io repori by exception We havc nothing to Fcpgrt in r¢sp¢ci of the lollowing mattery in relaiion to which the Clwities (Accounlg 8nd Repons) Re¥ulations 2008 requirt us to r¢port to yf)u if, in our opinion.. the infornjation given the TTusl¢e$' Annual Report is inconsistent in any material re$peci with the finanGi81 siat¢ment8' or
THE ENGLEFIELD CHAIUTABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE ENGLEFIELD CHARSTABLE TRUST the Charity has not kept sufft¢ient ateountin8 records; or the financial yiaiemenis are not in agreem¢ni with the aecourtting records and returns,. or we hav¢ not rcceived all the infonnaiion and explanations we r¢quire for our audit. Re$ponsibiiitie# of trustecs A$ explained more fully in the Tru.4tee8' Responsibiliti&% Siaiement set ou¢ on page 2, the trnstccs are responsible for the preparation of the fan¢la1 statements and for bcing %81i$fied that they give a trne and fair view, and for SULh iniemal ¢ontrol ab the trustees d¢l¢rmanc is necessary to enable the preparation of fll)sncial statements that are free from material misstatemcnt, wheiher due to fraud or eIr. In preparing the financial ¥tatemenrs, the trustcGs are respot]sible for asssing the Charity's ability to ¢ontinue as a going concern, disclosing, as applicable, matters relalcd togoing wncetn and using the going coThcernbasis of accounting unless the trnstees ei¢her intcnd io liquidate thc chariiy or io ¢ease operntions, or have no rcaiisiic alternative bui w do so. Audltors, resportslbllities for the udlt of the financial $tteme*ts We have b¢¢n appoinied as auditory under the Charities Aci 2011 ond report in accordan¢e with regulation5 madc under that Act. Our objcctives are io obtain rea8Ortable assurancc aboul wh¢ther the financial sia(emeDL4 as a whole are frec from material mibstalement, wheih¢r due 10 fraud or error. and 10 issue an auditors, retK>rt that includes our opinion. Reasonable assurance is a high l¢vel of assuran¢¢, but l5 not a guaranttt that att audit conducted in accordance with ISAS IUKI will alway.¥ detect a material Tnissiaiement when il exisis. Mi&statements can arise from fraud or error and are considered material if, individually or in ihe aggrcgalc, they could iea50nably be expeCd to influence the ¢conomic de£i5ion.% of Users taken on the b&%is of these financial Slements. Irre8ulariii¢s, tncluding fraud, are insthnces of non-compliance with laws and regulaiions. We desigll procedure¥ in line with our respon%ibiliiies, outlined above, (o dei¢ct t¥Latcrial mtssiatements in rc5pett of itT¢gularilies, including fraud. The gpecific procedures for ihis en8agement aud th¢ exteni which these are capable of detecting irregularitics, including fraud ar¢ detailed below. Identifying and assessing ri8ks relat1 io irregu14Tities- We osscssed the susceptibility of the charity's financial statements to material misslatcmeni aod how fraud might ocwr, including through discu.%sion8 with ihe trust. dis¢ussions within our audal team planning meeting, updating our record of int¢rnal conirols and cn¥uring ih¢se controL8 opeTat¢d as intended. We evaluated p05%ible tncentivcs and opportuniti¢s for frauduleni majipulalion of ihe financial.4tatements. We identified laws and re¥ulaiions iliat are of significance in the ¢ontexi of the ¢harity by dis$5105 with ¢rnsiees Jnd updtttin¥ understsnding of the 8ector in which th¢ charity opcraies. Laws and regulations of dire¢¢ significance in the ¢ontexl of the clwity in¢lLade the Charities Aei 201 I, the Charitic9 {Aceount5 and Reporfsl Regulations 2008 and guidance iwed by Chan"ty Cottllnission for England and Wales. Audit response to risks identified.. We con5Ldcrcd the exlent of compliance with these laws ond regulaitons as part of our audil procedures an thc lated fman¢ial slaiemeni iiems including a review of financial ststement disclosures. W¢ reviewed ihe ¢harity'% records of breaches of laws and regul2tlOT18, minul¢s of meetings J)nd correspondence with relevant authorities to idcntify potential material mi%sta(emenis arising. We discUd thc charily's policics and proc&lurex for compliance with laws atld regulations wilh members of managetnent rcw)nsible for Compliance. During ihe planning Tnecting with the audit arn, the engagemeni Partller drew attCAiion to the key &reas which might involve non-¢ompliancc wilh laws and regulalions or fraud. We enquired of management whcthcr they were awarc of any insran¢e5 of non-compliance with laws and reEulatiorn$ or knowledge of any atiual, suspcclcd or alleged fraud. We addressed the ri.sk of fraud ihrough managem¢nt override of corttrols by t&sting the appropriatcnes8 of journal entric4 and identifyins any 8ignifi¢ani transactions that were unusual or ouiside the nornal course of bu%iness. W¢ as5¢5sed whether judg¢menlS made in making accounting esiimat¢s gave rise to a pO)ble irtdicaiion of mtn8gement bia3.
THE ENGLEFIELD CHAIUTABLE TRUST INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE ENGLEFIELD CHAIUTABLE TRUST At the ¢ompleiion si&ge of the audit. the ¢ngagement parther's review ineluded ensuring thai the ieam h&d approach¢d Iheir work wilh appropriate professional s¢epticiyn and thus the capacity to identify nim-compliance w5th laws and r¢gulation$ and fraud. Thcre are inherent IiTnilations tn ihe audit procedures described above and the further removed non.complian¢¢ with law% arld regula¢ion8 i% froTn the ¢v¢nts and tronsaLlions reflected in the fancial staiemenis, th¢ likely we would becomc aware of it. Also, the risk of not detwting & material missthtemeni due io frdud is higher than thc risk of not detectingF one resuliing froTn CTror, as fraud moy involve deliberate concealm¢nt by. for exalnple. forgery or intentional misrepresentations, or through coll10n. A furthcr dc%criplion of our respoxjtiibilities is available on the Financial Reporting Council's website at.. www.frc.org.uklauditorsiespon$ibilities. This descripiion fornis part of our auditor's rqjo Use of our report Thi4 report is made solely to the charity's trus'tees, as a body, in accordance with Parf 4 of th¢ Charities (Ac¢ounts and Reports) Regulation$ 2008. Our audit work been undertakcn so ihai we mighi siaie to the tru$t¢cs thos¢ matterb we are requir¢d to state to th¢m in an auditor 5 reporf alld for no other PUTP05e. To the fullest extcnt pcrniitled by law. we do not aco¢pt or assume responsibility 10 8nyolle other than the chariry and the trNsiee5 as a body, for our audit work, for this reporL or for th¢ opinions we have fomed. SalTery LLP 71 Que¢n Victoria Sireet London EC4V 4BE Chartered ACcoUntts Siatutory Auditors Date.. 13 &eoeLLb& 'LL 9-4 Saffery LLP is eligible io aci &8 an auditor iti iern)s of section 1212 of the Comp8ni¢s Act 2006
THE ENGLEFIELD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the Year ended 31$t M*r¢h 2024 Tot41 Totol Ptrm#nent UDrestrieted Endowment Funds Fund Fund5 Funds year ended ended Jlst M#rth 2024 31$t March 2025 Note INCOMF Investment incom¢ 214.779 484,211 698,990 671,516 TOTAL 1Tr4COME 214,779 484,211 698,990 671.516 ExPENDvRE RaisinR ¥'urtds Investmcnt man&gem¢nt costs Property costs Charitable attlvltles 11.905 11,905 195,748 12,122 180,221 195,748 Donations 337.664 337,664 381, J46 TOTAL EXPENDITURE 533,412 11.905 545,317 573,489 NE'I. F.XPENDI'I'L'Rb: BF.FORE GAITrISILOSSES ON INVLS'I'.MEYI TS (318,633) 472.306 153,673 98,027 8 Gains/lLoss¢s) on revaluations and disposals of investmen15 properties GaIn(LOsSeS) on alUationS and disposals of inv¢$tments assets 981.091 981.091 (787,474) NET (EXPF.NDITUREyINCOME (318,633) 1,453,397 1,134,764 (669,447) Transfers between fulldi l O Transfer from ioial return for application 420,508 (420,508} NET MOITMENTS IN FUNDS 101.875 ,032,889 1,134.764 (689,447> RECONCILIATION OF FIJNDS TOT.4L Tr DNDS BROUGHT bORWARD 475.576 18.557.137 19,032,713 19,722,169 TOTAL FUNDS CARRIED FORWARD 577,451 19.590.026 20,167,477 19,032, 713 See nots 31for ihe previousyears Sialemeni OfFinancial Aciiviiies comparalives. The no¢¢J ort pages 12 10 19 formpari oJihesÉftnoncial stalemenls
THE ENGLEFIELD CHARITABLE TRUST BALANCE SHEET at 31s¢ March 2024 Note 2024 2023 FIXE"D ASSETS Inv¢$tmeni Properti¢s Inv¢s¢rnenis 5,780,000 14,016,929 5. 780,000 13,047,647 Total Fixed Assets 19,796,929 18,827,647 CURRENT ASSETS I I Sundry Debtot3 12 Cash at Banks 127.990 308.520 126,666 243, 186 Total Current Assets 436,510 369.852 13 CREDITORS: AMOUNTS Tr ALLING DUE WITHIN ONE YF.AR (65,962) {154. 786) Net Current Assets 370,548 215,066 CREDITORS: AMouKfs FALLING DUE IN ORE TEIAN ONE YF.AR 14 (10,000) TOTAL NET ASSETS 20,167,477 19,032, 713 R¢presented by.. 16 Unrestrleted Funds 577.451 475,576 16 Permanertt Endowment Fund 19.590,026 18,557.137 TOTAL FUNDS 20,167,477 19,032. 713 Trustee Catherine Haig Trnstr¢ Ri¢hard Benyon Approved by the Trustees '. 23rd September 2024 The no¢£s on p(4ges 12 to 19forpn pari ofthesefindneiol siaiements 10
THE ENGLEFIELD CHARITABLE TRUST STATEMENT OF CASH FLOWS for the Year ended 31st March 2024 Note 2024 2023 Cash used In oper#tln8 aetlvities 20 (642,959) (672.J29) Cash flows from investing activities Inl¢r¢st and dividends Purchase of investments Movement in cash held for inve$tm¢nl Proceeds from sale of investments 696.484 065, 704 (96,000) 41.668 54,385 (21.757) 33,566 Cash provided by Investing acliviti¢s 708,293 605, 757 Incre#sel (Decrease) in cash and cash equSvalents in the year 65J34 (6.372) Cash and cash equival¢nts at the bewTU)in8 of the year 243.186 249.558 CAsh And eash equivalent$ at the end of the year 12 308,520 243,186
THE ENGLEFIELD CHARITABLE TRUST NOTES TO THE FINknCJAI. STATEMENTS for the year ended 31M March 2024 ACCOUNTING POLICIES A) Bayls of preparation The finanLial slAiements. have been prepared under the historical Convenuon, other than inves¢m¢ni properties and li8ted invcsttnents which are staled ai valuation. The financial tateMen1S have been prLpAred in a¢cordance wilh ihe Statcment of Recommended Praciice= Accouniing and Reponing by Charitics preparing their accounts in ccordance with the trinancial R¢portÉng Sthndard applicable in the UK and Kepublic of Ireland (FRS 102) and th¢ Financial Reporting Standard applicable in the UK and Republic of Irtland (FRS 1021 and ihe Charitie8 Act 2011. The accounts Ifinttttcial staiements) have been prcpated to giv¢ a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulaiions 2008 only to th¢ extcn¢ r¢quir¢d to provide a 'ttue and fair view,. This departure has involved following Accoullling 8nd Rewrting by Charittes prtparing their accounis in a¢cordanLe with the Finencial Reponing StaTMl8rd applicablc iD the UK and Republic of Ireland (FRS 1021 rarher than th¢ Accounting and Reporting bycharilies.. Sraiement of lim)mm¢nded Pra¢iicc etrective from l April 2005 which has since been withdrdwn. The fall¢la1 5tatcmenis are prepared in slerling, which is the fvnctional currency of thc Charity, Monetary rnounis in Ihese fjnancial siaiemenL8 are roundcd to the near¢st £. The trnst ¢onst2tuies a publi¢ benefii enlity as dcfincd by FRS 102. b) Total reiurn The fund is invested as shown in note 9. Following a review of invc8tmeni marjagcrs. the TTu$*es resolvcd to adopi a tothl reium policy for (he managed ponfulio from l April 2016. Prior 10 the resolution &ll capital returns were ¢r¢dited to thc Endowment Fund artd all income remrns to the Unrestricied Fund. The Trusiees have decided (o tran3fcr 3Yo of ¢h¢ valu¢ io unrestricted funds foi applicaiion based on the expecied return included within the invesim¢¥Lt MagerS Jllattdatr. This will be reviewed periodically. e) Inve$¢meni propcrtl¢S Jnvesllnent properties stated at market V8h at the ba]attce sheet dtt Revaluatio are IOnned ut nol rn¢xe th8m 3 year int]S by ¢xterna] fimi of thtttExI • and any reluation gain or lo arising is trzTh8feJMi to the EndoTren1 Fund. d) Ittvestments Inve%trneAts' are stst¢d at fair value at the ba]ance sbeet ¢Jat. Rc81iged gains and lotw are calculated as the diff¢rence bctweert sale proceeds and markec value at the pr¢vÈous balsntc shttt dale. Inve%tment income is accounied for on a receivabkb&qi& el Income Income is included on a receivable b&8]& Incoffle frDm investhient properlicg is unrestri¢ted. Dividends ond interest, repreSentll th¢ rettLllLS on veStreLx are allocat the Endowmen¢ Fun& A rA)nion is then allocared to income as Set ou¢ in note 9. No iNom¢ h&% uycluded in the sthtement of fllwlcial aclivLties of ¢xpendi(ure. fj EXPenditre Liabilities are recogni5ed whcn a contrlua1 obligation arists. tX)nations &e recogni%ed as liabiliiies when approved by theTru%tees forimmediatcpaymeni. Items includedwithin tjwof expenditureon the basis of theirpredomsTw)t ¢har&ctcri.¥tics. Wb¢re donations are agrcd with perfornwice obFctives or tirnc restrictiotLS the eKpenditure i$ r¢cogniscd in the P¢Ti(xl whue the Ilonation r g) Raising fundy The cosis of rai$xng fi]nds co¥Lsi$i of investment management fee5 incurred in the rnana¥emt of the ctwity'8 inve¥rnent EK)rtftslio and thc c(K4ts of maintaining the chan"ty's invo¥knent housing and management, shown in Note 3. 12
THE ENGLEFIELD CHAIUTABLE TRUST NOTES TO THE FI.YLNCIAL STATEMENTS for the year end 31M M*rch 2024 ACCOUIYTING POLICIES h) CharltAble activitiej Costs of charithble activities &ticludedonation4 as in ¢4. CovernAnce costs Governance ¢o%ts compriseall cry81% involving th¢ public accOunbilltyof the charity amd its compliance with r¢gulatiort and good prEctice. These cosL% inclu& co$ related to ¥talury audit a1 legal fees. Thexc eosis are apportioned between the activi12es of th¢ ¢lJarity (m a lime buis. J) Value Added Tax The Ttust makes no iaxable supplies and Ihcrcfore is noi regi.8tcred for VAT purposes. Accordingly all relevant expendiiure i% inclusive of Value Added Tax. kl Permanent endowment fund ThL endowment fijnd rLyresenis pmm and investmenL togcther with any profit or lo arising from disposal and replacemen¢ of thc%e assets. and sum$ transferruj io th¢ ffldowmeni fvnd from the unrestric4 fund LA recogniti¢)n of the fact thai yp18 iticonK hjs becn c4)itsli%d by way ofprom impiovanenL l) Unrestricted fund Surplus inLotne noi distributed during th¢ year is transferred to the unrcstrictrd fvnd and as available for fuiure charitable distribuiions. m) Financial Instruments The Chari¢y only has fncIal assets and finan¢ial liabililies of a kind thai qualify as basic flnancial in5trument%. BASIC financial InsJmenls are iniiially recogniscd ai transa¢¢ion valuc and subsequently measured at their settlement value. n) Going concern The Trusiees have conyidered the fujancial po8iiion of the chariiy and the strong inv¢stment perforntsnce during the year as well &¥ thc posi year end period and consider that the charity tt) be a golng ¢ort¢ern. The aceounis have been prq)ared on this basks. o) Key esilmate$ and JlldEements n application of the ¢harily's accounting policics. the 1rUste arc required to ake judg¢ments. estimates And assumpiions aboui the ¢arrying amount of &%sCt5' and Iiabiliiies thai are not readily apparent from other sources, The cstimates and a5$0¢iatLd assumpiion¥ are based on liis(orical experiences and other factor4 ¢onliidered 10 be relevant. Actual results may differ from thtse estimaies. 13
THE ENGLEFIELD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for the Year ended 31st March 2024 2024 2023 INVESTME.N'I" INCOME Rent Dividends Interest 214,779 480.156 4,055 £698.990 200. 107 470,271 I, 138 £671,510 INVESTMF.iYr MAE¥AGEMENf COSTS £11,905 £12,122 Investm¢nt managernenl Costs include only thos¢ costs ¢harg¢d direcily to the Charity by its Inveslm¢nt Managers and do not include any costs a5soci8l¢d with the underlying funds. PROPERTY COSTS Heat and Light Propcny Repairs lienl & Raies Insurance Management Charge Other Governan¢¢ Costs (15Q/o) 7,724 156,355 577 3,894 13.560 9.575 4,063 £195.748 11.885 153.pl 7 814 2.115 6,000 2.330 3,160 £180,221 DONA'rioys Church / Religion ConseTvatiun l Hcritage l Arts Youth l Edu¢ation / Community Social & Welfatt / Support Overseas MediLal / Support HM Forces 27,850 42.650 108.055 112.084 4,000 18,000 2,000 314,639 23,025 £337,664 61.500 54,800 117,594 97,690 12,000 7,655 12,000 363,23 17.907 £381.146 Governanc¢ Costs (85 %) Breakdown between institutions and individuals: To institutions To individuals 312,859 1,780 £314 639 361,489 1. 750 £363.239 The TruStS have taken the siaiuiory exemption> provided by Charity IAW in Engl8nd and Wales. which allows them io not provide the names of grant r¢cipients and th¢ amounis of these grants during the lifetim of the settlor's spouse. 14
THE ENGLEFIELD CHARITABLE TRUST NOTES TO THE FINAIYCIAL s"fATE.MEYTS for the Year ended 31st March 2024 2024 2023 6 GOVERNANCE COSTS Audit Fee 9,138 17,950 £27,088 7,062 14,005 £21,007 General Expenses These 5t& have been apportioned a¢ros5 the Chariiable &tlVlEi¢S aknve on ihe basi% Of lime spent on the relevant activity. 7 STAFF The ¢harily does not employ any staff. The day ¢0 day administration of the charity is catTied out by ihe Engleficld Estate offic¢ as too is the Secreiary who a&sists ihe TTUStcc& with th¢ governance of the organisation and the management of the 8fdnt expenditure. 8 INVESTMENT PROPERTIES 2024 2023 Valuatio £5,780.(X)o £5. 78fJ.000 Freehold Laud Windmill Common, MtYtimer- l¢Ilra1 Lartd and Wwdlind {1.75 acr) Pambcr HeAih- AgrirultUTal Land110.82 acrcs) Burghlield- AgriGvltur81 Land & Wat¢r (15_26 Acres) Theale- Land #djoining Railway 45,(KK> 125.0(K) 185,0(K) 25,0 45,0110 125.000 185.000 25.000 380,000 380,000 Fr¢ehold Propertie5: 26 sLbUry Gate. Sp¢nccr5 WryNJ. Reading 1 8 Rowlaiids Closc, Mortimer 345.fy)0 1,990.(X)O 320,IX)O 345.00 1,990,OOQ 32Q,ImO Roida. Ufton N¢rv¢t 2,655,000 2.655,000 Lea¥ehold Propertles: 1-4 St MHTki Cli>sc. EDglcfield199 years from 29.9.721 02A. 64 and 64A ChuTeh Strecr. Th¢81¥ (99 ycars 19.3.76) 6, 6a and 7 Th¢ Sireei. Engicfi¢ld185 years fro 24.6.8¥1 1,135.OCM) 930,0) 680,0(XJ 1,135,0110 930,090 680,000 2.745,000 2, 745,000 Tot81 £5,780.000 £5,780,OOfl A full ternal valuation of the prowli w&4 perfornied in J¥nuary 2022 by CaTtcr Jonas, ¢hartered sutveyors, a rirni external io (he chari(y. The basis of valuatkon used by ihem was open market exisiing use value. This valuation is reflected in the figures alx)vc. Havit)g considered this professional advice, the injsw are sai15fied thai the inv&¥tment properties ar¢ fairly valued &131 March 2024. 15
THE ENGLEFIELD CHARITABLE TRUST N(yfES TO THE "INANCIAL ST ATF.MENTS for the YeAr ended 31st Mareh 2024 INVESTMLN'rs 2024 2023 Market value at 1st April 2023 Additions Disposals Gainsl(Los$esl on rcvaluaiions and di5posal8 Incteasel (Decrease) in Cash held for investmeni Market value xt 31$1 March 2024 13,047.647 13,835,174 96.000 (54,385) (787,474) (41,OLfj8) £13,047,047 (33,366) 981,091 21.757 £14,016,929 Cost at 31st MAreh 2024 £12.048.618 £12,042,235 Thc portfolio wll5i5ts of the following ¢agories of investsnents= Al market valuc 21124 2023 Venture Fund Altematsvc Strategies Multi As8cts' Funds 87,445 3.714 13.900,276 13.991,435 25,494 iio.ooi 3,106 12,9311.lJ43 J3,043,9JO 3, 737 Cash Accounts 14 016.929 13,047.647 Withirt these ¢ategorics the following IVtmCnts had a maret value grear than £500.000 .. 2024 2023 cotF Clwities Ethical Investment Fund Cazenoyc Charity Respon5iblc Multi-Ass¢i Fund (RMAFI 7.122.243 6.778.033 0,4AS,093 6,444,P50 10 TOTAL RETURN EndownAt Un#pplled ioial rftyrn Total Endowment Broughi f0tVrJ l April 2023 16.125,617 2,431.320 18,557,137 Movemettts Investment rctUrn5 (dividends and in*rest) Investmcnt returns (gainO$s} Less inv¢slm¢nt manag¢m¢nt costs 484.211 981,091 (11,905) 1.453,397 484.211 981,091 {11,905 1,453,397 Unapplied total retum a]located io tncome in the reporting period 1420.508 (420.508 Nei movcmcnts in reporting period Caffied forward 31 Mah 2024 1,032.889 1.032.889 £16,125,617 £3,464 409 £19 590.026 16
THE ENGLEFIELD CHARITABLE TRUST IIOTES TO THE FINANCIAL STATEMEI¥TS for the Year ended 31st.M•rch 2024 SUNDRY DEwfoRS 2024 2023 Trade Dcbiors Prepaymcn15 Englefjeld Horn¢ Farms Parnkcr5hip A¢crlled Incon 821 4.598 1.891 120,680 £1 ?7,990 5,462 2.155 2.877 118.174 £126.660 12 CASH AT BANKS 2024 2023 Lloyds Bank- Curr¢ttt Account £308,520 £245.186 ij CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 3Q23 Trade Crcditors Donation5 Payable The Bcnyon Trust .nBleficld Es'laie LP Other Creditots 10,496 10.IKX) 15.998 6,744 125.000 1.440 38 21,564 £J54, 786 29.468 £65.962 14 CREDITORS: AMOUNTS FALLING DUB IN MORE THAN ONK YEAR 2024 2Q23 Donations Payabl¢ £io.000 Thr prior year balaDG¢ relates to a donation payabl¢ w Wa*nnill Theaiff in the year ¢ndd 31 March 2025. tyow incllldcd in creditQTS falling due within one year. 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS IDve5tmtNI Propcrtkn Inve4tmeAts Net cENt CredltOTS Asset5
IYear Tot•1 Year ended 31 Mir¢h 2024 unstrIcd Funds Pcrman¢ni Endowment Fund 577.451 121K).9031 £370,548 577,451 19,590,026 20.167.477 5.780.000 14,016,929 £5,780,000 £14.016,929 Y¢8r ended 31 M*r¢h 2023 Unreslricted F'und5 Perman¢fti &nd0wrrn¢ Fund 475,576 475,576 (260.510} 110.((x)) 18,557.137 £215.(166 £(IU,DOOl £19.032.713 5.780,IMKI 13.047.647 £5.780,(KK> £13.047,647 17
THE ENGLEFIELD CHAIUTABLE TRUST NOTES I'O TFIE FINANCIAL STATEMENTS for tbe Year ended 31$t March 2024 16 FUNDS Unr¢stTlded EAdowment Fund Totil Total fvnd8 brovghi foTW4T In¢ome Expendiiurc and on revaluation and disp0581 of in¥ent asscts TrHn5f¢r beiweell fund5 475.576 214,779 18,557.137 484.211 19.032.713 698.990 (533.412) 420.508 969.186 {420.508} 435,774 Toial funds ¢arri¢d lornard £577,451 £19,590,026 £20.167.477 Th¢ transfer from thc UnTtStrÈcted fund to th¢ cniknvmcnt tEd rePr&ts the eosis of fflaint¢nAnce which hove c&piraliscd, of Tepaym¢nts OD bank loans tyttach to thc prOpIe 17 RELATED PARTIES Uftort C(>u uLtional TDJSI Richard Benyoft was a dIlur of the Engleficld Est¥i¢Tros¢ CoTW)ration Limited until 14 May 2021 which 18 11 Ini$tee of Iht B¢nyun Tru.81 which own5 Uftvn Court. Ufton Court has been Icas¢d 10 th¢ Ufton Court E41utaiional Trusi lu whom in Ihc ycar 31 March 2024 donatioths of £nil 12023. nil) have been mth. At 31 Mi JrLh 2024, £nil12023.. £110,(thl is includcd within CTediLOTS falling du¢ within onc year. Richard Benyon's sisicr. Mi r5 M.E.Riall. 15 Founding Dire¢thr and Company Setretary of IhL Ufton Court Eduaii()nal TDJSI. z B¢nyon. a tyu51cc of Ihc Ingl¢fi¢ld CIMtitabl¢ TTU$i. ttnd Edward CrN)kes. who 15 an ¥mployee and Ihc wmpany secTCWy of thr En8l¢field EsLitc Trust CoTfA)ration Limtwl. were jt¢S of the Ufton Court Ru10nd1 Trust during the year. TheBL n'l. Riihard Benyon was 8 diTttttV of th¢ Englcfield E$TAt corr1100 Limi ¥n¢il 14 Mèy 2U21. tN5t ot'The Benyon Tns¥1, which marmgcs thc dJy 10 day admirtistraiion ofihe chariry. During the yw lo 31 Match 2024 the Benyon Trust charyed £25,080 (2023.. £17,232) for manag¢t serviccs Ll 8.33812023.- £6.6381 For ildIng maint¢nantt ervices. Th¢ Brmyon Trust also puid cthain suppliers On behalf of thc Charity and recovtr¢d Ihis ¢oM fmm the Chariry. A ¢hEitabl¢ donation of £1251(202] .. £12500) was paid during ih¢ yeAr 10 thc BYon Trnst io SUPPDrt the Engl¢ficld Sch£x)Is Doy irtiiiativ¢. At 31 MJr¢h 2024, the Benyon Trust was owed £15.998 (2023.. £1.4401 from th¢ Chariry. Richlvd Bcnyon was a dirwtt>rof the Engl¢fi¢ld E4ate Trust Corporlon Limiruj until 14 May 2021, trustee of ihe EnElrfield TnLqt. During thc 31 March 2024. the Ert8lefield TTU¥t paid ¢ertain 5upplivs on bdjajf of ihc Churity 8nd recovercd this Cosi fr(hn the Chariry. At 31 March 2024 the Englcfidd Trnst owed £nil 12023.. £nil) to the ChwTity- cld E5 Richard B¢nyon 14 4 limited partntt of ihe En8leficld Esta1¢ LP and is also of ihc Engl¢fJeld E%tate Trust CoTporaiion Litnit£d until 14 Mky 2021 which ib IhL general panncr of the Engleficld Estate LP. During thc yrar LO 31 March 2024, th¢ Englefietd Estat¢ LP rAid ttstsin supplitys on beh&lf of Ih¢Ch8rity and rcLover¢d this cost frDm Ihc Charity. At 31 MaTch 2024 the Englefield Estat¢ LP wa$ owed £nil (2023.. £38) flom th¢ Ch4rity. Richard Bcnyon a diT¢Cts)r of the Engl¢ti¢ld Estaie Trnsi CorwrJlion Limircd until 14 May 2021. 8 rtrttr TD ngcflc1d Hurn¢ Farms Partnership. During the year, £102¢ (2023.. £9.6001 rrnl and £1.89] (2023.. £2.877) propcrty CO815 w¢r¢ charged to En8l¢fi¢ld Home Fanns Pannv8hip. A(31 Mgrch 2024. ENglthcld Hom£ Farni Partncrship owed £1,89112023.. £2,1177) io the ChaTiiy. 18 TIi4NSACTIONS WITH TRUSTEES No Irusicc5 f¢Leived any remuncralii>n tSurit)8 the ycar12023 .. £nill Trusitt¥ received reimbuT5Ctncnl for travel and subsist ¢xpenses tomlling £360 during thcye4r (2023 ." £307). 18
THF. ENGLEFIELD CHARrrABLE TRUST iYOTES TO THE FINANCIAL STATEMENTS for the Year ended 315t Marth 2024 19 OPLRATIIYG LEASE RECEivrs The total of r¢nis rtseivable expeci(yJ in the nexi financial year i5 U17.771. A numb¢r vf the propettie5 (Ktsupied ai r¢y115 by vulnerable trAwficiari¢s under ihc ¢h4ritls objeal$ gnd Ih¢ arrangements aTC therL'fi)re noi ¢on5idcTd tnle owating le&Ks. Othtt have upcoming rent review$ but il is highly likely that th¢5c long sthndiJl8 ants will rthain. For lif¢ ienanrs Is no way Ol'ktWtrt8 wlK> ihe death of th¢ lif¢ t¢nanl will le¥•J 10 Ihc temiinaiioo of rhc lease. FRS 102 $20.30 rLNuires disclosur¢ of lea&e reCeiptsd in 2-5 years aJ 0y 5 ycar%. bas•J on thc cxpits¢ion dalc of curr1 Ic4Lses. The Irustccs Eon$tder thai the l¢v¢l of variabltt involvpj mean thai including any fi8ure for th15 would bc misleading lo us¢rs ofthe a¢¢oun 20 RECONCILIATION OF P4ET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACtIVlTIES 2024 2013 NL xnovemeni in fund¥ Dedr iniercsl income shown in invc5¢in8 activities Deduct ggin51add baik llnrealis¢d 1055ts on invLsimenis Decr&tsc in d¢btv De¢reas¢ in Lrdil(>rs 1.134.764 {698,IMI {981.0911 (089.447) (071.516) 787.474 501 9. 141 (672.129) 98.8241 1fv12.9591 Analysig of ¢han8&% in net debL At sthrtofthc year Cash fiows Al ¥Ld tsf the year Cash Cash h¢Jd as part of irtvesth)ents 243,186 3,737 246.923 65.334 21.757 87.(YJl 308.520 25.494 334,014 21 PREVIOUS YEAR'S STATEMENT OF FINANCIAL AcfJviTIES Ptmnent gndowmrnl Total Furtds Ye¥r F.nded 31$¢ Mah 2023 Unrtstri¢¢¢d Fund¥ INCOMF InY£bim¢nl Income 2.707 471.409 671.516 'I'OTAL INcnMg kXP&lYDITUR RAlsln% fund5 Invesim¢nt maDa¥eml eosts Propcny ¢0515 Chri¢able A¢tivitSe5 Donations 2fy1,107 471,409 671,516 12,122 12,122 180,221 180221 381.146 381.140 rn'rAL £XPENDTTURE 561J67 12.122 573.489 NEI. INCOMKIEXPENDITURII (3612601 459287 98.027 GainsI{Lot$) ()n ValuatIOnS Jdisp>sal$ of invesmicnls lly¥ets 1787.4741 1787.474} NET INCQMF. AP4D Nrr MOV&MEI4T IN FliNIK 1361260) {328.l87) {689,4471 I'rAngfers betw¢en funth 'rrdnsf¢f from total return for applicat NET IEXPF.NDI'fuREJIINCOME AND NET MOVF.MTr.'N"I'.S IN FUtr4DS 391.430 {391.430) 30.170 1719.6171 (689.4471 Ro¢on¢lll#tlon of lunds TOTAL FUNDS BROUCIIT FORWARD 445.4( 19276.754 19.722.160 TOTAL FUNDS CARRIED FORIVARD £475 576 £18 557 117 £19 032 713 19