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2022-04-05-accounts

Page
Legal and administrative information
Trustees' report 2-5
Independent
examiner's		 report
Statement offinancial activities
Statement of financial position
Statement ofcash flows
Notes to the accounts 10-16
Schedule of investments 17

Trustees Rathbones
Trust Company		 Rathbones
Trust Company		 Rathbones
Trust Company		 Limited
Mr P M H Andreae
Mrs RJAndreae
Charity number 258516
Registered office 8 Finsbury
Circus
London
EC2M 7AZ
Independent examiner Mr David Matkins
Bourner Bullock Chartered Accountants
114St Martin's Lane
Covent Garden
London
WC2N 4BE
Solicitors Currey 8 Co
33Queen Anne Street
London
W1G 9HY
Investment advisors Rathbones
Investment		 Management Limited
8 Finsbury
Circus
London
EC2M 7AZ
UK

2022 2021
Notes
Income
Donations
and legacies		 34,795
Investments 25,588 25,158
Total income 25,588 59,953
Expenditure
Raising funds 6,826 7,446
Charitable
activities		 101,550 281,061
Total resources expended 108,376 288,507
Net expenditure before investment (losses) / gains (82,788) (228,554)
Net (losses)/gains on investments (21,081) 555,602
Net movement in funds (103,869) 327,048
Fund balances at 6April 2021 1,632,443 1,305,395
Fund balances at 5April 2022 1,528,574 1,632,443

2022 2021
Notes
Fixed assets
Investments 12 1,555,112 1,666,015
Current assets
Cash at bank and in hand 14,496 6,858
Creditors: amounts falling due within 13
one year (41,034) (40,430)
Net current
liabilities		 (26,538) (33,572)
Total assets less current liabilities 1,528,574 1,632,443
Income funds
Unrestricted funds 1,528,574 1,632,443
1,528,574 1,632,443

2022 2021
Notes E
Cash flows from operating activities
Cash absorbed
by operations		 14 (107,772) (231,825)
Investing
activities
Proceeds on disposal
of investments		 72,558 207,475
Dividends
and interest received		 25,588 25,158
Net cash generated
from		 investing
activities 98,146 232,633
Net (decrease)/increase in cash and cash
equivalents (9,626) 808
Cash and cash equivalents at beginning ofyear 13,232 25,777
Effect of foreign exchange rates 102 (13,353)
Cash and cash equivalents at end of year 15 3,708 13,232

4 Investments
2022 2021
Income from listed investments 3,971 8,102
Foreign income 21,617 17,056
25,588 25,158
5 Raising funds
2022 2021
Investment
management		 fee 6,826 7,446
6 Charitable
activities
2022 2021
Grant funding
of activities		 (see note 7) 83,670 262,900
Share ofgovernance costs (see note 8) 17,880 18,161
101,550 281,061
7 Grants payable
2022 2021
E
Grants to institutions:
Elderly 8 Social Care 40,000 57,000
Religious
Organisations		 1,500 31,000
The Arts and Museums 10,020 24,700
Youth
& Education		 20,000 92,200
Medical
& Mental		 Health 1,300 20,000
Conservation 10,850 38,000
83,670 262,900

8 Support costs Support costs
Support Governance 2022 2021 Basis of
costs costs allocation
F
Trust management 16,200 16,200 15,600 Governance
SRC Blue book annual subscription 901 Governance
Independent examination 1,680 1,680 1,640 Governance
Bank charges 20 Governance
17,880 17,880 18,161

Net (l osses ) / gains on investments
2022 2021
F
Revaluation of investments (91,529) 473,707
Gains on sale of investments 70,346 95,248
Gains / (loss) on exchange 102 (13,353)
(21,081) 555,602

Fixed ass et investment s
Listed Cash in Total
investments portfolio
Valuation
At 5April 2021 1,659,641 6,374 1,666,015
Currency gain 102 102
Unrealised (loss) (91,529) (91,529)
Realised gain 70,346 70,346
Cash held in investment portfilio (17,264) (17,264)
Disposals (72,558) (72,558)
At 5April 2022 1,565,900 (10,788) 1,555,112
Investment Investment Units Market Value %ofTotal Market
Agnico Eagle Mines Ltcl 4,900 234,160 14.99%
Barrick Gold Corp 7,200 134,119 8.58%
Newmont
Corp		 4,200 255,435 16.35%
Nestle SA 1,000 101,387 6.49%
Paypal Holdings 2,750 246,392 15.77%
Union Pacific Corp 1,125 215,996 13.83%
2022 2021
E
Listed investments 1,565,900 1,659,641
Cash in investment portfolio (10,788) 6,374
1,555,112 1,666,015
Historic cost of investments 1,038,184 1,096,273
13 Creditors: amounts falling due within one year
2022 2021
E E
Investment management fees 1,633 1,749
Trustees' management fees 16,200 15,600
Independent
examiner's		 fees 3,320 3,200
Peter Andreae 19,881 19,881
41,034 40,430

14 Cash generated from operatio ns
2022 2021
E E'
(Deficit)/surpus for the year (103,869) 327,048
Adjustments
for:
Investment
income recognised		 in statement of financial activities (25,588) (25,158)
Gain on disposal of investments (70,346) (95,248)
Fair value gains and losses on exchange (102) 13,353
Fair value gains and losses on investments 91,529 (473,707)
Movements
in working
capital:
Increase
in creditors		 604 21,887
Cash absorbed by operations (107,772) (231,825)
15 Cash and cash equivalents
2022 2021
E F
Cash at bank and
in hand		 14,496 6,858
Cash held
in investment
portfilio		 (10,788) 6,374
3,708 13,232

Donations
made to		 institutions
during the		 year
2022 2021
E
Art UK 20,000
Basingstoke
and Alton Cardiac Rehabilitation		 Charity 200
Basmom 40,000 40,000
Brain Tumour Appeal 300
Brompton Association 10,000
Brompton
Oratory		 10,000
Coram Beanstalk 500
Diocese of Portsmouth 10,000
Elias Ashmole
Group		 1,700 1,700
Felix Project 4,000
Grange
Festival		 2,420
Hampshire
Field Club		 850
Hampshire
Gardens		 Trust 3,000
Hospital
ofSt Cross		 Winchester 1,000
Hunt Staff Benefit Society 30,000
London
Libary		 1,000
Mary's Meals 10,000
National
Gallery Trust		 2,900 3,000
Releasing
Potential		 20,000 25,000
Royal British Legion 20,000
Save Britains Heritage 10,000 25,000
St Anne's
College		 500
St Gregorys
Foundation		 500
St John's Ambulance 3,000
St Peter and Pauls Church 1,000 1,000
Tait Memorial
Ytust		 1,000
Trinity College 25,000
Trinity Winchester 10,000
Venice in Peril Fund 2,000
Westminster
Cathedral		 10,000
83,670 262,900
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