| Page | |||
|---|---|---|---|
| Reportofthe Trustees | 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) |