|||Page||
|---|---|---|---|
|ReportoftheTrustees|1|to|4|
|ReportoftheIndependentAuditor|5|to|7|
|StatementofFinancialActivities||8||
|StatementofFinancialPosition||9||
|StatementofCash Flows||10||
|Notes tothe StatementofCash Flows||11||
|Notes totheFinancial Statements|12|to|19|
|Detailed StatementofFinancialActivities||20||





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|||31.3.23|31.3.22|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Investment income|2|583,391|582,995|
|**EXPENDITURE ON**||||
|Raising funds|3|55,867|53,326|
|**Charitable activities**|4|||
|Charitable Donations||489,671|563,881|
|||--||
|**Total**||545,538|617,207|
|Net gains/(losses) on investments||(855,697)|968,006|
|**NET INCOME/(EXPENDITURE)**||(817,844)|933,794|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||17,297,863|16,364,069|
|**TOTAL FUNDS CARRIED FORWARD**||16,480,019|17,297,863|





|Statement ofFinancial Position<br>31 March2023||||
|---|---|---|---|
|||31.3.23|31.3.22|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**FIXED**ASSETS||||
|Investments<br>Investments<br>Investmentproperty|9<br>10|14,840,645<br>415,875<br>-|15,665,306<br>445,490|
|||_15,256,520_|16,110,796|
|CURRENTASSETS<br>Debtors<br>Cashat bankandinhand|11|11,951<br>1,217,184|76,412<br>l,130,lS8|
|||1,229,135|1,206,570|
|CREDITORS<br>Amounts fallingduewithinoneyear|12|(S,636)|(19,503)|
|||-||
|**NET CURRENT ASSETS**||1,223,499|1,187,067|
|TOTALASSETSLESSCURRENT<br>LIABILITIES||16,480,019|17,297,863|
|NETASSETS||16,480,019|17,297,863|
|||-||
|FUNDS<br>Unrestrictedfunds|14|16,480,019|17,297,863|
|TOTALFUNDS||16,480,019|17,297,863|






## 

|||31.3.23|31.3.22|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cashgeneratedfromoperations||(378,843)|(674,462)|
|Interestpaid||(87)|(96)|
|Netcash usedinoperatingactivities||(378,930)|(674,558)|
|**Cash flows from investing activities**||||
|Purchaseoffixedassetinvestments||(391,330)|(2,031,810)|
|Sale offixedassetinvestments||374,851|1,320,686|
|Interestreceived||45,608|67,491|
|Dividendsreceived||512,033|489,504|
|||--||
|Netcashprovided by/(usedin) investingactivities||541,162|(154,129)|
|**Cash flows from financing activities**||||
|Newloans inyear||(112,447)|(20,000)|
|Loanrepayments inyear||36,913|121,875|
|Netcash(usedin)/providedby financingactivities||(75,534)|101,875|
|**Change in cash and cash equivalents in**||||
|**the reporting period**||86,698|(726,812)|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**|2|1,130,158|1,856,970|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**|2|1,216,856|1,130,158|





|**OPERATING ACTIVITIES**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**Net (expenditure)/income for the reporting period (as per the**|||
|**Statement of Financial Activities)**|(817,844)|933,794|
|**Adjustments for:**|||
|Losses/(gain)oninvestments|946,289|(967,448)|
|Interestreceived|(45,608)|(67,491)|
|Interestpaid|87|96|
|Dividendsreceived|(512,033)|(489,504)|
|Decrease/(increase) indebtors|64,461|(57,662)|
|Decreaseincreditors|(14,195)|(26,247)|
|**Net cash used in operations**|(378,843)|(674,462)|
|**ANALYSIS OF CASH AND CASH EQUIVALENTS**|||
||31.3.23|31.3.22|
||£|£|
|Cashinhand|5,027||
|Noticedeposits (lessthan 3months)|1,212,157|1,130,158|
|Overdrafts includedinbankloans andoverdrafts fallingduewithinoneyear|(328)||
|Totalcashandcashequivalents|1,216,856|1,130,158|



## 

||At 1.4.22|Cashflow|At31.3.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cashatbankandin hand|1,130,158|87,026|1,217,184|
|Bankoverdraft||(328)|(328)|
||1,130,158|86,698|1,216,856|
|**Total**|1,130,158|86,698|1,216,856|





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|**2.**|**INVESTMENT INCOME**|||
|---|---|---|---|
|||31.3.23|31.3.22|
|||£|£|
||Rents receivable|25,750|26,000|
||Investment income receivable|512,033|489,504|
||Deposit account interest|8,414|17|
||Other interestreceived|37,194|67,474|
|||--|--|
|||583,391|582,995|
||||--|
|**3.**|**RAISING FUNDS**|||
||**Raising donations and legacies**|||
|||31.3.23|31.3.22|
|||£|£|
||Support costs|9,514|8,287|
||**Investment management costs**|||
|||31.3.23|31.3.22|
|||£|£|
||Portfolio management|46,266|44,943|
||Interestpayable and similarcharges|87|96|
|||---|--|
|||46,353|45,039|
|||--|---|
||Aggregate amounts|55,867|53,326|
|**4.**|**CHARITABLE ACTIVITIES COSTS**|||
||||Grant|
||||funding of|
||||activities|
||||(see note|
||||5)|
||||£|
||Charitable Donations||489,671|
||||--|
|**5.**|**GRANTS PAYABLE**|||
|||31.3.23|31.3.22|
|||£|£|
||Charitable Donations|489,671|563,881|





## 

||31.3.23|31.3.22|
|---|---|---|
||£|£|
|Art, Music andEntertainment|71,729|40,500|
|HealthandMedicalResearch|81,000|91,210|
|Religion|16,500|30,000|
|NatureConservation|55,000|49,000|
|Civil Society|195,889|224,171|
|Education|12,553|73,000|
|Care|42,000|41,000|
|Hospice|15,000|15,000|
||489,671|563,881|
|||--|



||||Governance||
|---|---|---|---|---|
|||Management|costs|Totals|
|||£|£|£|
|Raisingdonations|andlegacies|398|9,116|9,514|



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||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Investmentincome|582,995|
|**EXPENDITURE ON**||
|Raisingfunds|53,326|
|**Charitable activities**||
|CharitableDonations|563,881|
|**Total**|617,207|
|Netgains oninvestments|968,006|





|||||Unrestricted|
|---|---|---|---|---|
|||||fund|
|||||£|
||**NET INCOME**|||933,794|
||**RECONCILIATION OF FUNDS**||||
||Total fundsbroughtforward|||16,364,069|
||**TOTAL FUNDS CARRIED FORWARD**|||17,297,863|
|**9.**|**FIXED ASSET INVESTMENTS**||||
||||31.3.23|31.3.22|
||||£|£|
||Shares||14,210,736|15,110,931|
||Loans||629,909|554,375|
||||14,840,645|15,665,306|
||Additional informationas follows:||||
|||Listed|Unlisted||
|||investments|investments|Totals|
|||£|£|£|
||**MARKET VALUE**||||
||At 1 April 2022|14,080,503|747,075|14,827,578|
||Additions|391,330||391,330|
||Disposals|(443,561)||(443,561)|
||Impairments||(20,000)|(20,000)|
||At31 March2023|14,028,272|727,075|14,755,347|
||**PROVISIONS**||||
||At 1 April 2022|(400,522)|117,169|(283,353)|
||Revaluationadjustments|641,026|186,938|827,964|
||At31 March2023|240,504|304,107|544,611|
||**NET BOOK VALUE**||||
||At31 March2023|13,787,768|422,968|14,210,736|
||At31 March2022|14,481,025|629,906|15,110,931|
|||||Other|
|||||loans|
|||||£|
||At 1 April 2022|||554,375|
||Newinyear|||112,447|
||Repayments in year|||(36,913)|
||At31 March2023|||629,909|





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|**INVESTMENT PROPERTY**||
|---|---|
||£|
|**FAIR VALUE**||
|At 1 April 2022|445,490|
|Impairments|(29,615)|
|At31 March2023|415,875|
||--|
|**NET BOOK VALUE**||
|At31 March2023|415,875|
|At31 March2022|445,490|





|**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|---|---|---|---|---|---|---|
||||||31.3.23|31.3.22|
||||||£|£|
||Otherdebtors||||11,951|76,412|
|**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE **||**YEAR**||||
||||||31.3.23|31.3.22|
||||||£|£|
||Bankloans andoverdrafts (seenote 13)||||328||
||Othercreditors||||5,308|19,503|
||||||--|--|
||||||5,636|19,503|
||||||---|-|
|**13.**|**LOANS**||||||
||Ananalysisofthematurityofloans is givenbelow:||||||
||||||31.3.23|31.3.22|
||||||£|£|
||Amounts fallingduewithinoneyearondemand:||||||
||Bankoverdrafts||||328||
||||||--||
|**14.**|**MOVEMENT IN FUNDS**||||||
||||||Net||
||||||movement|At|
||||At|1.4.22|infunds|31.3.23|
|||||£|£|£|
||**Unrestricted funds**||||||
||General fund||17,297,863||(817,844)|16,480,019|
||**TOTAL FUNDS**||17,297,863||(817,844)|16,480,019|
||Netmovementinfunds, includedinthe above areas|follows:|||||
|||Incoming|Resources||Gains and|Movement|
|||resources|expended||losses|infunds|
|||£||£|£|£|
||**Unrestricted funds**||||||
||General fund|583,391|(545,538)||(855,697)|(817,844)|
||**TOTAL FUNDS**|583,391|(545,538)||(855,697)|(817,844)|





|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.21|infunds|31.3.22|
||£|£|£|
|**Unrestricted funds**||||
|General fund|16,364,069|933,794|17,297,863|
|**TOTAL FUNDS**|16,364,069|933,794|17,297,863|



||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|infunds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|582,995|(617,207)|968,006|933,794|
|**TOTAL FUNDS**|582,995|(617,207)|968,006|933,794|



|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.21|infunds|31.3.23|
||£|£|£|
|**Unrestricted funds**||||
|General fund|16,364,069|115,950|16,480,019|
|**TOTAL FUNDS**|16,364,069|115,950|16,480,019|



||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|infunds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|1,166,386|(1,162,745)|112,309|115,950|
|**TOTAL FUNDS**|1,166,386|(1,162,745)|112,309|115,950|





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|**Detailed Statement of Financial Activities**<br>**for the Year Ended 31 March 2023**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Investment income**|||
|Rents receivable|25,750|26,000|
|Investment income receivable|512,033|489,504|
|Deposit account interest|8,414|17|
|Other interestreceived|37,194|67,474|
||--|--|
||583,391|582,995|
||--|--|
|**Total incoming resources**|583,391|582,995|
|**EXPENDITURE**|||
|**Investment management costs**|||
|Portfolio management|46,266|44,943|
|Bank interest|87|96|
||--||
||46,353|45,039|
|**Charitable activities**|||
|Grants to institutions|489,671|563,881|
|**Support costs**|||
|**Management**|||
|Travel costs|398|169|
|**Governance costs**|||
|Auditors' remuneration|5,372|5,044|
|Sundries|144|194|
|Accountancy and professional|3,600|2,880|
||9,116|8,118|
|||---|
|Totalresources expended|545,538|617,207|
|**Net income/(expenditure) before gains and**|||
|**losses**|37,853|(34,212)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset investments|(68,710)|97,483|
|**Net (expenditure)/income**|(30,857)|63,271|