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2025-03-31-accounts
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Page |
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| Reportofthe Trustees |
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to |
4 |
| ReportoftheIndependentAuditor |
5 |
to |
7 |
| StatementofFinancialActivities |
|
8 |
|
| StatementofFinancialPosition |
|
9 |
|
| StatementofCash Flows |
|
10 |
|
| Notes tothe StatementofCash Flows |
|
11 |
|
| Notes totheFinancial Statements |
12 |
to |
18 |
| Detailed StatementofFinancialActivities |
|
19 |
|
|
|
31.3.25 |
31.3.24 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
| INCOME AND ENDOWMENTS FROM |
|
|
|
| Investment income |
2 |
560,424 |
528,580 |
| EXPENDITURE ON |
|
|
|
| Raising funds |
3 |
62,714 |
61,935 |
| Charitable activities |
4 |
|
|
| Charitable Donations |
|
564,306 |
523,251 |
| Total |
|
627,020 |
585,186 |
| Net gains/(losses) on investments |
|
(357,686) |
703,154 |
| NET INCOME/(EXPENDITURE) |
|
(424,282) |
646,548 |
| RECONCILIATION OF FUNDS |
|
|
|
| Total funds brought forward |
|
17,126,567 |
16,480,019 |
| TOTAL FUNDS CARRIED FORWARD |
|
16,702,285 |
17,126,567 |
StatementofFinancial Position
31 March 2025 |
|
|
|
|
|
31.3.25 |
31.3.24 |
|
|
Unrestricted |
Total |
|
|
fund |
funds |
|
Notes |
£ |
£ |
| FIXEDASSETS |
|
|
|
Investments
Investments |
9 |
15,708,684 |
16,116,561 |
| Investmentproperty |
10 |
455,160 |
391,822 |
|
|
16,163,844 |
16,508,383 |
| CURRENT ASSETS |
|
|
|
| Debtors |
11 |
5,150 |
5,150 |
| Cashatbankandinband |
|
538,456 |
627,041 |
|
|
543,606 |
632,191 |
| CREDITORS |
|
|
|
| Amountsfallingduewithinoneyear |
12 |
(5,165) |
(14,007) |
| NET CURRENT ASSETS |
|
538,441 |
618,184 |
| TOTAL ASSETS LESS CURRENT |
|
|
|
| LIABILITIES |
|
16,702,285 |
17,126,567 |
| NET ASSETS |
|
16,702,285 |
17,126,567 |
| FUNDS |
13 |
|
|
| Unrestrictedfunds |
|
16,702,285 |
17,126,567 |
| TOTAL FUNDS |
|
16,702,285 |
17,126,567 |
|
31.3.25 |
31.3.24 |
| Notes |
£ |
£ |
| Cash flows from operating activities |
|
|
| Cashgeneratedfromoperations |
(607,053) |
(542,501) |
| Interestpaid |
(60) |
(60) |
| Netcashusedinoperating activities |
(607,113) |
(542,561) |
| Cash flows from investing activities |
|
|
| Purchase offixed asset investments |
(3,784,925) |
(1,439,744) |
| Sale offixedasset investments |
3,771,779 |
281,126 |
| Interestreceived |
20,841 |
16,018 |
| Dividendsreceived |
510,833 |
485,437 |
| Netcash providedby/(usedin) investing activities |
518,528 |
(657,163) |
| Cash flows from financing activities |
|
|
| Loanrepayments in year |
|
609,909 |
| Netcash providedbyfinancing activities |
|
609,909 |
| Change in cash and cash equivalents in |
|
|
| the reporting period |
(88,585) |
(589,815) |
| Cash and cash equivalents at the |
|
|
| beginning of the reporting period |
627,041 |
1,216,856 |
| Cash and cash equivalents at the end of |
|
|
| the reporting period |
538,456 |
627,041 |
| OPERATING ACTIVITIES |
|
|
|
31.3.25 |
31.3.24 |
|
£ |
£ |
| Net (expenditure)/income for the reporting period (as per the |
|
|
| Statement of Financial Activities) |
(424,282) |
646,548 |
| Adjustments for: |
|
|
| Losses/(gain) oninvestments |
357,685 |
(703,154) |
| Interestreceived |
(20,841) |
(16,018) |
| Interestpaid |
60 |
60 |
| Dividendsreceived |
(510,833) |
(485,437) |
| Decreaseindebtors |
|
6,801 |
| (Decrease)/increaseincreditors |
(8,842) |
8,699 |
| Net cash used in operations |
(607,053) |
(542,501) |
|
At 1.4.24 |
Cashflow |
At31.3.25 |
|
£ |
£ |
£ |
| Net cash |
|
|
|
| Cashatbankand in hand |
627,041 |
(88,585) |
538,456 |
|
627,041 |
(88,585) |
538,456 |
| Total |
627,041 |
(88,585) |
538,456 |
| 2. |
INVESTMENT INCOME |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Rents receivable |
28,750 |
27,125 |
|
Investment income receivable |
510,833 |
485,437 |
|
Deposit account interest |
20,841 |
14,616 |
|
Other interest received |
|
1,402 |
|
|
560,424 |
528,580 |
| 3. |
RAISING FUNDS |
|
|
|
Raising donations and legacies |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Support costs |
10,825 |
12,912 |
|
Investment management costs |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Portfolio management |
51,829 |
48,963 |
|
Interestpayable and similar charges |
60 |
60 |
|
|
51,889 |
49,023 |
|
Aggregate amounts |
62,714 |
61,935 |
| 4. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Grant |
|
|
|
funding of |
|
|
|
activities |
|
|
|
(see note |
|
|
|
5) |
|
|
|
£ |
|
Charitable Donations |
|
564,306 |
| 5. |
GRANTS PAYABLE |
|
|
|
|
31.3.25 |
31.3.24 |
|
|
£ |
£ |
|
Charitable Donations |
564,306 |
523,251 |
|
31.3.25 |
31.3.24 |
|
£ |
£ |
| Art, Music andEntertainment |
39,540 |
59,465 |
| HealthandMedicalResearch |
121,327 |
90,522 |
| Religion |
13,000 |
12,000 |
| NatureConservation |
67,005 |
53,000 |
| Civil Society |
194,299 |
218,504 |
| Education |
65,135 |
30,760 |
| Care |
43,000 |
41,000 |
| Hospice |
21,000 |
18,000 |
|
564,306 |
523,251 |
|
|
|
|
Governance |
|
|
|
|
Management |
costs |
Totals |
|
|
|
£ |
£ |
£ |
| Raisingdonations |
and |
legacies |
640 |
10,185 |
10,825 |
|
Unrestricted |
|
fund |
|
£ |
| INCOME AND ENDOWMENTS FROM |
|
| Investment income |
528,580 |
| EXPENDITURE ON |
|
| Raisingfunds |
61,935 |
| Charitable activities |
|
| CharitableDonations |
523,251 |
| Total |
585,186 |
| Netgains oninvestments |
703,154 |
|
|
|
|
Unrestricted |
|
|
|
|
fund |
|
|
|
|
£ |
|
NET INCOME |
|
|
646,548 |
|
RECONCILIATION OF FUNDS |
|
|
|
|
Totalfunds broughtforward |
|
|
16,480,019 |
|
TOTAL FUNDS CARRIED FORWARD |
|
|
17,126,567 |
| 9. |
FIXED ASSET INVESTMENTS |
|
|
|
|
|
|
31.3.25 |
31.3.24 |
|
|
|
£ |
£ |
|
Shares |
|
15,708,684 |
16,096,561 |
|
Loans |
|
|
20,000 |
|
|
|
15,708,684 |
16,116,561 |
|
Additional informationasfollows: |
|
|
|
|
|
Listed |
Unlisted |
|
|
|
investments |
investments |
Totals |
|
|
£ |
£ |
£ |
|
MARKET VALUE |
|
|
|
|
At 1 April2024 |
14,588,145 |
1,318,239 |
15,906,384 |
|
Additions |
3,784,925 |
|
3,784,925 |
|
Disposals |
(3,850,202) |
|
(3,850,202) |
|
At31 March2025 |
14,522,868 |
1,318,239 |
15,841,107 |
|
PROVISIONS |
|
|
|
|
At 1 April2024 |
(534,424) |
344,247 |
(190,177) |
|
Revaluationadjustments |
1,752 |
320,848 |
322,600 |
|
At31 March2025 |
(532,672) |
665,095 |
132,423 |
|
NET BOOK VALUE |
|
|
|
|
At31 March2025 |
15,055,540 |
653,144 |
15,708,684 |
|
At31 March2024 |
15,122,569 |
973,992 |
16,096,561 |
|
|
|
|
Other |
|
|
|
|
loans |
|
|
|
|
£ |
|
At 1 April2024 |
|
|
20,000 |
|
Impairment intheyear |
|
|
(20,000) |
|
At31 March2025 |
|
|
|
| INVESTMENT PROPERTY |
|
|
£ |
| FAIR VALUE |
|
| At 1 April2024 |
391,822 |
| Revaluation |
63,338 |
| At31 March2025 |
455,160 |
| NET BOOK VALUE |
|
| At31 March2025 |
455,160 |
| At31 March2024 |
391,822 |
|
|
|
|
|
31.3.25 |
31.3.24 |
|
|
|
|
|
£ |
£ |
|
Otherdebtors |
|
|
|
5,150 |
5,150 |
| 12. |
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE ** |
|
YEAR |
|
|
|
|
|
|
|
|
31.3.25 |
31.3.24 |
|
|
|
|
|
£ |
£ |
|
Othercreditors |
|
|
|
5,165 |
14,007 |
| 13. |
MOVEMENT IN FUNDS |
|
|
|
|
|
|
|
|
|
|
Net |
|
|
|
|
|
|
movement |
At |
|
|
|
At |
1.4.24 |
infunds |
31.3.25 |
|
|
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
Generalfund |
|
17,126,567 |
|
(424,282) |
16,702,285 |
|
TOTAL FUNDS |
|
17,126,567 |
|
(424,282) |
16,702,285 |
|
Net movement infunds, included inthe above |
are asfollows: |
|
|
|
|
|
|
Incoming |
Resources |
|
Gains and |
Movement |
|
|
resources |
expended |
|
losses |
infunds |
|
|
£ |
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
Generalfund |
560,424 |
(627,020) |
|
(357,686) |
(424,282) |
|
TOTAL FUNDS |
560,424 |
(627,020) |
|
(357,686) |
(424,282) |
|
Comparatives for movement in funds |
|
|
|
|
|
|
|
|
|
|
Net |
|
|
|
|
|
|
movement |
At |
|
|
|
At |
1.4.23 |
infunds |
31.3.24 |
|
|
|
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
Generalfund |
|
16,480,019 |
|
646,548 |
17,126,567 |
|
TOTAL FUNDS |
|
16,480,019 |
|
646,548 |
17,126,567 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
infunds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| Generalfund |
528,580 |
(585,186) |
703,154 |
646,548 |
| TOTAL FUNDS |
528,580 |
(585,186) |
703,154 |
646,548 |
|
|
Net |
|
|
|
movement |
At |
|
At 1.4.23 |
infunds |
31.3.25 |
|
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
| Generalfund |
16,480,019 |
222,266 |
16,702,285 |
| TOTAL FUNDS |
16,480,019 |
222,266 |
16,702,285 |
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
infunds |
|
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
| Generalfund |
1,089,004 |
(1,212,206) |
345,468 |
222,266 |
| TOTAL FUNDS |
1,089,004 |
(1,212,206) |
345,468 |
222,266 |
Detailed Statement of Financial Activities
for the Year Ended 31 March 2025 |
|
|
|
31.3.25 |
31.3.24 |
|
£ |
£ |
| INCOME AND ENDOWMENTS |
|
|
| Investment income |
|
|
| Rentsreceivable |
28,750 |
27,125 |
| Investment incomereceivable |
510,833 |
485,437 |
| Depositaccountinterest |
20,841 |
14,616 |
| Other interestreceived |
|
1,402 |
|
560,424 |
528,580 |
| Total incoming resources |
560,424 |
528,580 |
| EXPENDITURE |
|
|
| Investment management costs |
|
|
| Portfoliomanagement |
51,829 |
48,963 |
| Bankinterest |
60 |
60 |
|
51,889 |
49,023 |
| Charitable activities |
|
|
| Grants to institutions |
564,306 |
523,251 |
| Support costs |
|
|
| Management |
|
|
| Travel costs |
640 |
352 |
| Governance costs |
|
|
| Auditors'remuneration |
6,225 |
5,775 |
| Sundries |
|
192 |
| Accountancyand professional |
3,960 |
6,593 |
|
10,185 |
12,560 |
| Totalresourcesexpended |
627,020 |
585,186 |
| Net expenditure before gains and losses |
(66,596) |
(56,606) |
| Realised recognised gains and losses |
|
|
| Realisedgains/(losses) onfixedassetinvestments |
(78,423) |
(7,581) |
| Net expenditure |
(145,019) |
(64,187) |