| Contents | ||||||
|---|---|---|---|---|---|---|
| Page | ||||||
| Reference and admlnstrative | details ofthe charity, its Trustees and advisers | |||||
| Report ofthe | Trustees | 2-7 | ||||
| Independent | Auditor's | Report | ||||
| Statement of | Financial | Activities and Income | gr expenditure | account | 10 | |
| Balance Sheet | ||||||
| Notes tothe | Finandal | Statements | 12-16 |
| Trustees | The following are the Trustees who served dunng | The following are the Trustees who served dunng | The following are the Trustees who served dunng | The following are the Trustees who served dunng | The following are the Trustees who served dunng | The following are the Trustees who served dunng | the year and | |
|---|---|---|---|---|---|---|---|---|
| are appointed as and when necessary. | ||||||||
| Ms. Tracey Fletcher | ||||||||
| Mr. Thomas Gayfer | ||||||||
| Ms. Palrikea Okonkwo | ||||||||
| Ms, Anne Young | ||||||||
| Director | Ms. Rachel Oglethorpe | |||||||
| Address | Marshall House |
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| 66Newcomen Street |
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| London | ||||||||
| SE1 1YT | ||||||||
| Auditors | RPG Crouch Chapman | LLP | ||||||
| Chartered Accountants |
||||||||
| 5th Floor | ||||||||
| 14-16Dowgate Hill |
||||||||
| London EC4R 2SU | ||||||||
| Solicitors | Stone King LLP | |||||||
| Boundary House | ||||||||
| 91Charterhouse Street |
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| London | ||||||||
| EC1M 6HR | ||||||||
| Bankers | Messrs C Hoare & | Co. | ||||||
| 37 Fleet Street | ||||||||
| London | ||||||||
| EC4P 4DQ | ||||||||
| Investment | managers | Brewin Dolphin Securiees Limited | (until | 27 March | 2022) | |||
| 12Smithfield Street |
||||||||
| London | ||||||||
| EC1A9BD | ||||||||
| lnvestec Wealth 8 Investment | Limited | (until 27 March 2022) | ||||||
| 2Gresham Street | ||||||||
| London | ||||||||
| EC2V 7QP | ||||||||
| Sarasin 8 Partners | t)K | (from 28 March | 2022) | |||||
| Juxton House | ||||||||
| St Paul's Churchyard | ||||||||
| EC4M 8BU | ||||||||
| Charity Number | 259963 |
| The total grants awarded are as follows: |
|||||
|---|---|---|---|---|---|
| 1.1 OPEN FUND GRANTS | 2022 | 2021 | |||
| ROUND 1i MULTI-YEAR - Year 3of3 | |||||
| Home-Start Southwark |
E | 30000 | E | 30000 | |
| IRMO (Indoamerican Refugee and Migrant Organization) Loughborough Junction Action Group |
E | 30.000 30.000 |
E E |
30,000 30,000 |
|
| St.Matthew's Project |
E | 30,000 | E | 30,000 | |
| Stepping Stones Learning and Leisure Westminster House Youth Club |
E E |
30,000 30,000 |
E E |
30.000 30,000 |
|
| TOTAL OPEN FUND GRANTS ROUND 1 | E | 180,000 | E | 180,000 | |
| ROUND 2; MULTI-YEAR - Year 1 of3 | |||||
| Bright Centres | E | 30,000 | |||
| CEF Lyncx (Community Education Foundation |
&Lyncx) | E | 30,000 | ||
| Juvenis | E | 30,000 | |||
| Southside Young Leaders Academy (SYLA) |
E | 25,000 | |||
| Southwark Day Centre for Asylum Seekers |
E | 30,000 | |||
| Spring Community Hub |
E | 30,000 | |||
| Your Story | E | 30,000 | |||
| TOTAL OPEN FUND GRANTS ROUND 2 | 205,000 | ||||
| 1.2 OPEN FUND GRANTS.' ONE-OFF DEVELOPMENT | |||||
| Brixton Wings | E | 5,000 | |||
| TOTAL OPEN FUND GRANTS | E | 390,000 | E | 180,000 | |
| 2.STRATEGIC FUND GRANTS: | |||||
| iVAR (Open and Trusting Campaign) |
E | 1000 | E | ||
| TOTAL STRATEGIC FUND GRANTS | E | 1.000 | E | ||
| TOTAL OPEN AND STRATEGIC FUNDS AWARDED | E | 391,000 | E | 180,000 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrsstricted | Unrestncted | |||||||
| Notes | Fund | Fund | ||||||
| Income from: | ||||||||
| Investments | 158.487 | 164,258 | ||||||
| Total Income | 158,487 | 164,258 | ||||||
| Expenditure on: |
||||||||
| Raising funds | ||||||||
| Investment management |
costs | 11,215 | 19,724 | |||||
| Charitable activities |
||||||||
| Grants | 391,000 | 180,000 | ||||||
| Salaries | 48,370 | 4D,535 | ||||||
| Administrsbon | costs | 38,504 | 32,746 | |||||
| Total Expenditure | 489,089 | 273,005 | ||||||
| Net Expenditure | before gains | on | ||||||
| Investment assets | (330,602) | (108,747) | ||||||
| Galas/(Losses) | on | investment | assets | (702,768) | 910,048 | |||
| Nst (Expenditure) | Income | (1,033,370) | 801,30'I | |||||
| Net movement | in | funds | (1,033,370) | 8D1,301 | ||||
| Reconciliation | offunds | |||||||
| Total Funds at 1st | October | 2021 | 6,024,626 | 5,223,325 | ||||
| Total Funds at | 30th September | 2022 | 14 | 4,991,256 | 6.024,626 |
| lh | e year ended 30September 202 | 2 | ||||||
|---|---|---|---|---|---|---|---|---|
| 2 | Investment income |
2022 | 2021 | |||||
| Income from investments | 8 | 158,48 | 8 | 184.258 | ||||
| 3 | Grants to Instgutions | 2022 | 2021 | |||||
| Charitable Grants approved: |
E | p | ||||||
| Open Fund Grants | ||||||||
| Round 1:Multi-Year - Year 3of | 3 | |||||||
| Home-Start Southwark |
30,000 | 30,000 | ||||||
| Indoamerican Refugee and Migrant Organization |
(IRMO) | 30,000 | 30,000 | |||||
| Loughborough Junction Action Group |
30,000 | 30,000 | ||||||
| St Matthew's Project |
30,000 | 30,000 | ||||||
| Stepping Stones Learning and Leisure | 30,000 | 30.000 | ||||||
| Westminster House Youth Club |
30,000 | 30,000 | ||||||
| Total Open Fund Grants Round | 1 | 180,000 | 180,000 | |||||
| Round 2:Multi-Year -Year 1of | 3 | |||||||
| Bright Centres | 30,000 | |||||||
| CEF Lyncx (Community Education |
Foundation | & | Lyncx) | 30,000 | ||||
| Juvenis | 30,000 | |||||||
| Southside Young Leaders Academy(SYLA) | 25,000 | |||||||
| Southwark Day Centre (or Asylum |
Seekers | 30,000 | ||||||
| Spring Community Hub |
30,000 | |||||||
| Your Story | 30,000 | |||||||
| Total Open Fund Grants Round | 2 | 205,000 | ||||||
| Round 2:One-Off Development | ||||||||
| Brixton Wings | 5,000 | |||||||
| Total Open Fund Grants | 390,000 | 180,000 | ||||||
| Strategic Fund Grants | ||||||||
| IVAR | 1,000 | |||||||
| 1,000 | ||||||||
| Total Open and Strategic Funds | Grants | 8 | 391,000 | E | 180,000 |
| THE PETER MINET TRUST | |||||||
|---|---|---|---|---|---|---|---|
| NOTES TO THE ACCOUNTS | |||||||
| Forthe year ended 30September 2922 5 Salaries |
2022 f |
2021f | |||||
| Salary ofTrust Director Pension to former employee National insurance |
40,200 5,270 890 |
33.208 5,246 408 |
|||||
| Contribution to Trust Director's pension |
plan | f | 2,010 48,370 |
f | 1.674 40,535 |
||
| No | No | ||||||
| The average monthly number of employees |
was | 1 | 1 | ||||
| No employee received remuneration |
of | more | than f60,000. | ||||
| Apart from the Trustees, key management comprises the Trust Director. remuneration of key management amounted tof40,200(2021:f33,208) |
The aggregate | ||||||
| 6 Related party transactions | |||||||
| There were no related party transactions |
other than those stated in Note | 4. | |||||
| 7 Administration | 2022f | 2021 f |
|||||
| Office expenses | 10,147 | 12,435 | |||||
| Property expenses | 11,816 | 9,035 | |||||
| Professional fees | 9,972 | 4,444 | |||||
| Trustee training | 1,071 | ||||||
| Audit fee - current year | 3,480 | 3,300 | |||||
| Auditors - other services | 734 | 555 | |||||
| Depreciation | 1,284 38,504 |
f | 2,977 32,746 |
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| 8 Investments | 2022 | 2021f | |||||
| Listed Investments | |||||||
| Market value et 1 October 2021 | 5,558,909 | 4,673,945 | |||||
| Additions | 5,843,099 | 676,715 | |||||
| Disposals | (5,733,564) | (701,799) | |||||
| Realised losses Revaluation of portfolio |
(341,192) ~361. 8 |
(5,138) 915,186 |
|||||
| 4,965,676 | 5,558,909 | ||||||
| Cash with investment managers |
8,000 | 149,950 | |||||
| Market value at 30September 2022 | 4,973,676 | 5,708,859 |
| 9 | Tangible 6Intangible | Assets | Tangible | Tangible | Intangible | ||||
|---|---|---|---|---|---|---|---|---|---|
| Office | Benefactor | Webstte | |||||||
| equipment | software | build | Total assets | ||||||
| Cost | E | E | E | E | |||||
| Cost at 1stOctober 2021 | 5,409 | 2,010 | 6,000 | 13,419 | |||||
| Additions | 1.288 | 1,288 | |||||||
| At 30th September 2022 | 6,697 | 2,010 | 6,000 | 14.707 | |||||
| Depreciation | |||||||||
| At 1st October 2021 | 4.613 | 2,010 | 6,000 | 12,623 | |||||
| Charge for Ihe year | 1,284 | 1,284 | |||||||
| At 30th September 2022 | 5,897 | 2,010 | 6,000 | 13,907 | |||||
| Net Book Value | |||||||||
| At 30th September 2022 | E | 800 E | Nil | E | Nil | 6 | 800 | ||
| At 30th Seplember 2021 | E | 796 E | Nil | E | Nil | E | 796 | ||
| 10 | Debtors | 2022 | 2021 | ||||||
| Due within ons year: | E | E | |||||||
| Dividends receivable |
2,466 | ||||||||
| Accrued income | g95 | ||||||||
| Prepaid rent and services |
8,924 | 8,101 | |||||||
| E | 9,919 | E | 10,567 | ||||||
| 11 | Creditors | 2022 | 2021 | ||||||
| Due within one year: | |||||||||
| Audit fee | 3,480 | 3,300 | |||||||
| Professional fees | 7,340 | 6,637 | |||||||
| Other creditom | 335 | 175 | |||||||
| E | 11,155 | E | 10,112 |
| Balance | Transfers | Balance at | Balance at | |||||
|---|---|---|---|---|---|---|---|---|
| 01-Oct-21 | Income | Expenditure | in/out | 30-Sep-22 | ||||
| 6 | 2 | 6 | 6 | |||||
| Designated | funds | 180,000 | 230,000 | 410.000 | ||||
| Expenditure | 5,471,130 | 158,487 | (489,089) | (230.000) | 4.910,528 | |||
| General fund: Gains/(I. oases) on | ||||||||
| investments | 373,496 | - | 702,768 | |||||
| Total Unrestricted | funds | 6,024,626 | 158,487 | (1,191,857) | 4,991,256 | |||
| Total offunds | 6,024,626 | 158.487 | 1,191,857 | 2 | 4,991,256 |
| Balance | Transfers | Balance at | Balance at | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 01-Oct-20 | Income | Expenditure | in/out | 30-Sep-21 | |||||
| 2 | |||||||||
| Designated | funds | 360,000 | (180,000) | 180,000 | |||||
| Expenditure | 5,399,877 | 164,258 | (273,005) | 180.000 | 5.471,130 | ||||
| General fund: Gains/(Losses) | on | ||||||||
| investments | 536552 | 910048 | 3734g6 | ||||||
| Total Unrestricted | funds | 5,223,325 | 164,258 | 637,043 | 6,024,626 | ||||
| Total offunds | 5,223,325 | 164,258 | 637,043 | 6 | 6,024,626 |
| Analysts ofnet assets between funds - Cunent year | |||
|---|---|---|---|
| Unrestricted | Designated | Total | |
| Funds | Funds | Funds | |
| 6 | 6 | 6 | |
| Invsstmsnts | 4,563,676 | 410,000 | 4,973,676 |
| Tangible fixed assets | 800 | 800 | |
| Current assets | 27,935 | 27,935 | |
| Creditors due within one year | 11,155 | ||
| 4,561,256 | 410,000 | 4,991,256 | |
| Analysis ofnet assets between funds - Prior year | |||
| Unrsstricted | Designated | Total | |
| Funds | Funds | Funds | |
| 6 | 6 | 6 | |
| Invsshnents | 5,528,859 | 180,000 | 5,708,859 |
| Tangible fixed assets | 798 | 796 | |
| Current assets | 325,083 | 325,083 | |
| Creditors due within one year | 10,112 | ||
| 5,644,626 | 180,000 | 6,024,626 |
| 8 | Investments | Property | Cash with | Cash with | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quoted UK | Cash with | Investment | Property | 2022 | 2021 | ||||||||
| Investments | Stockbroker | Fund | Managers | Total | Total | ||||||||
| E | f | E | E | ||||||||||
| Market value 1stOctober 2021 | 5,308,583 | 146,870 | 250,326 | 3,080 | 5,708,859 | 5,112,881 | |||||||
| Additions | 5,843,099 | 5,843,099 | |||||||||||
| Disposals | (5,733,564) | (5,733,564) | |||||||||||
| Net movement | in Cash | (146,870) | (3,080) | (149,950) | (314,070) | ||||||||
| Realised investment | gain/(loss) | (341,192) | (341,192) | ||||||||||
| Unrealised investment |
gains(loss) | (361,576) | (361,576) | 910,048 | |||||||||
| Market value | 30th September 2022 | E | 4,715,350 | E | f 250,326 | f | f | 4,965,676 | E 5,708,859 | ||||
| Historical cost | at 30th September 2022 | f | 3,128,478 | f | 146,870 | E 241,062 | r | 3,080 | f. | 3,519,490 | E 3,519,490 | ||
| Historical cost | at 30th September 2021 | f | 3,128,478 | E | 146,870 | E 241,062 | f. | 3,080 | f | 3,519,490 | E 3,723,576 | ||
| UK Investments | f | 2,803,975 | E 3,432,538 | ||||||||||
| Foreign Investments | E | 2,161,701 | E 1,680,343 | ||||||||||
| 4,965,676 | 5,112,881 |