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2022-03-31-accounts

nts
Chair's Foreword.
Strategic Report..
Trustees'
Report .
Auditors'
Report..		 19
Statement of Financial Activities. .. 22
Balance Sheet...
Statement ofCashflows. . 24
Notes to Financial Statements. . .2S

Unrestricted
Funds		 Year Ended
31March
2022		 Unrestricted
Funds		 Year Ended
31March
2021
Total Total
Notes f000 f000 F000 f000
Income From:
Donations
and Legacies		 1,120 1,120 2,074 2,074
Other Trading Activities 6 6 25 25
Investments 866 866 862 862
Total Income 1,992 1,992 2,961 2,961
Expenditure
on:
Raising Funds 53 53 53 53
Investment
Management		 Fees 110 110 101 101
Charitable
Activities		 1,905 1,905 1,787 1,787
Total Expenditure 2,068 2,068 1,941 1,941
Net Gains / (Loss) on Investments 292 292 3,601 3,601
Net Income/(Expenditure) 216 216 4,621 4,621
Transfers Between Funds
Other Recognised
Gains /		 (Losses):
Actuarial
Gains / (Losses) on
Defined Benefit Pension Scheme		 21 405 405 (142) (142)
Net Movement
in Funds		 621 621 4,479 4,479
Reconciliation
of Funds
Total Funds Brought Forward 26,760 26,760 22,281 22,281
Total Funds Carried Forward 27,381 27,381 26,760 26,760

31March 2022 31March 2021
NOTES f000 f000 f000 f000
Fixed Assets
Intangible
Assets		 11 0 29
Tangible Assets 12 3 7
Investments:
Commercial		 13 25,041 23,385
Investments:
Social		 14 79 85
Total Fixed Assets 25,123 23,506
Current Assets
Debtors 15 399 1,255
Cash at Bank and in Hand 1,872 2,374
Total Current Assets 2,271 3,629
Creditors
Amounts
falling due within one year		 16 (158) (143)
Net Current Assets 2,113 3,486
Total assets less current liabilities 27,236 26,992
Creditors
Amounts
falling due after		 one year 16
Defined Pension Scheme Liability 21 145 (232)
Total Net Assets 27,381 26,760
Funds
Restricted
Funds		 0 0
Unrestricted
Designated		 Funds 24,352 24,543
Unrestricted
Free Funds		 2,884 2,449
Pension Reserve 145 (232)
Total Charity Funds 27,381 26,760

OR THE YEAR ENDED 31M A RCH 2022
Year Ended Year Ended
Note 31March 31March
2022 2021
f000 f000
Cash Flows from Operating Activities:
Net Cash Provided by/(used in) Operating Activities 23 (32)
Cash Flows from Investing Activities:
Returns from Investments 866 862
Purchase of Property,
Plant,		 Equipment &Intangibles (3) 1
Proceeds from Sale of Investments 136 0
Purchase of Investments (1,500) 0
Net Cash Provided by/(used in) Investing
Activities		 (501) 863
Change
in Cash and Cash Equivalents		 in the year (502) 828
Cash and Cash Equivalents at the 1April 2021 2,374 1,546
Cash and Cash Equivalents at the 31March 2022 1,872 2,374

Year ended Year ended
31March 31March
2022 2021
EOOD EOOD
Donations from RICS members 683 695
Other cash donations 248 287
Donated office space 0 0
Donations 931 982
Legacies 179 1,082
Unrestricted grants 10 10
Total 1,120 2,074

Year ended Year ended
31March 31March
2022 2021
EOOO EOOO
Trading subsidiary 0
Lottery income 25
Total 25

.Investme nt
Income
Year ended Yearended
31March 31Ivlarch
2022 2021
6000 f000
Dividends from listed investments 676 698
Investment return 183 160
Dividends from unlisted
investments
Total 866 862

Yearended Year ended
31March 31March
2022 2021
f000 6000
Costs ofactivities 1 1
Lottery costs 5 22
Staff costs 47 30
Total 53 53
Investment manager fees 110 101
Total 163 154

Year ended Year ended
31March 31March
2022 2021
EOOO EOOD
Grant Making to Individuals
Grants approved 314 436
Staff costs 117 90
Depreciation 6 7
Other costs 0 0
Support &Governance 116 75
Total 553 608
Advice and Beneficiary Support
Staff costs 207 224
Depreciation 11 17
Other costs 47 25
Support &Governance 205 188
Total 470 454
Engagement and Communications
Staff costs 193 162
Depreciation 10 12
Other costs 96 6
Support &Governance 182 135
Total 481 315
Workshops and Webinars
Staff costs 155 195
Depreciation 9 14
Other costs 65 38
Support &Governance 173 163
Total 402 410
Total
Grants approved 314 436
Staff costs 671 671
Depreciation 36 50
Other costs 208 69
Support &Governance 676 561
Total 1,905 1,787

.Analysis of Support and Go vernance Costs
Year ended Yearended
31March 31March
2022 2021
f000 f000
Grant Making to Individuals
Staff costs 55 30
Consultancy 5 3
Information and technology costs 21 15
Other costs 18 13
Governance 17 14
Total 116 75
Advice and Beneficiary Support
Staff costs 97 74
Consultancy 9 7
Information and technology costs 37 37
Other costs 33 34
Governance 29 36
Total 205 188
Engagement and Communications
Staff costs 86 54
Consultancy 8 5
Information and technology costs 33 26
Other costs 29 24
Governance 26 26
Total 182 135
Workshops and Webinars
Staff costs 82 65
Consultancy 7 6
Information and technology costs 31 32
Other costs 28 29
Governance 25 31
Total 173 163
Total
Staff costs 320 223
Consultancy 29 21
Information and Technology Costs 122 110
Other costs 108 100
Governance 97 107
Tota I 676 561

Yearended Year ended
31March 31March
2022 2021
f000 fOOD
Depreciation 36 50
Auditor's remuneration 14 13
.Employee s
Yearended Year ended
31March 31March
2022 2021
f000 f000
Staff costs comprise:
Salaries 889 833
Social security costs 85 72
Other pension contributions 130 108
Total 1,104 1,013

1.Intangible
Fixed Assets
Year ended
31March
2022
6000
Software
Development
Cost
At 1April 2021 88
Additions 0
Disposals 0
At 31March 2022 88
Depreciation
At 1April 2021 59
Disposals 0
Charge for year 29
At 31March 2022 88
Net book value
At 31March 2022
At 31March 2021 29

2.Tangible
Fixed Assets
Yearended
31March
2022
f000
Office
Equipment
Cost
At 1April 2021 62
Additions 3
Disposals (2)
At 31March 2022 63
Depreciation
At 1April 2021 55
Disposals (2)
Charge for year 7
At 31March 2022 60
Net book value
At 31March 2022
At 31March 2021

31March 31March
2022 2021
6000 6000
Quoted securities at fair value
Sarasin Endowment Fund 24,961 23,189
Unquoted
securities at fair value
Gravesend
and District Property Company		 80 196
Total commercial investments 25,041 23,385
14.Social Investments
31March 31March
2022 2021
6000 6000
Interest free loans with no fixed repayment date,
made to beneficiaries
Loans outstanding at 1April 221 228
l.oans repaid during the year (11) (7)
Loans outstanding at 31March 210 221
Provision for bad debts on loans
Provision at1April (136) (136)
Provision released in the year 5 0
Provision at 31March (131) (136)
Net loans outstanding
as at 31March		 79 85

15.Debtors
31March 31March
2022 2021
f000 6000
Taxation recoverable 44 64
Prepayrnents and accrued income 251 1,052
Other debtors 104 139
Total 399 1,255

31March 31March
2022 2021
f000 f000
Trade creditors 36 9
Grant commitments 54 73
Accruals 44 40
Taxation and social security 22 20
Other creditors 2 1
Total 158 143
31March 31March
Grant Commitments 2022 2021
f000 f000
Balance 1April 2021 73 79
Additions 309 436
Paid (328) (442)
Balance 31March 2022 73

17.Net Assets
31March 31March 31March 31March
2022 2022 2021 2021
Unrestdcted Total Unrestricted Total
f000 EOOO f000 f000
Fixed assets 3 3 36 36
Investments 25,120 25,120 23,470 23,470
Net current assets 2113 2,113 3,486 3,486
Provisions 145 145 (232) (232)
TOTAL 27,381 27,381 26,760 26,760

18.Movemen t
in Funds		 in the Year
Balance at Income Expenditure Transfers Gains / Balance at
1April 2021
f000		 f000 f000 f000 (losses)
f000		 31March
f000		 2022
Free reserves 2,449 1,992 (2,005) 448 0 2,884
Income fund 23,307 0 0 (250) 292 23,349
Development fund 1,200 0 0 (200) 0 1,000
Pension reserve (232) 0 (28) 405 145
Fixed asset fund 36 0 (35) 0 3
Restricted fund 0 0 0 0 0
Tota I 26,760 1,992 (2,068) 0 697 27,381
Balance at Income Expenditure Transfers Gains / Balance at
1April2020 (losses) 31March 2021
f000 f000 f000 f000 f000 f000
Free reserves 2,827 2,961 (1,877) (1,462) 0 2,449
Income fund 17,844 0 0 1,862 3,601 23,307
Development fund 1,600 0 0 (400) 0 1,200
Pension reserve (75) 0 (15) (142) (232)
Fixed asset fund 85 0 (49) 0 36
Restricted fund 0 0 0 0 0
Total 22,281 2,961 (1,941) 0 3,459 26,760

31March 31March
Financial assumptions 2022 2021
5S pa Yo pa
Discount rate 2.60'Yo 1.9556
Pension increases 3.25'Yo 2.85Yo
Salary increases 4.25Yo 3.85Yo
31March 31March
2022 2021
f000 f000
Fair value ofcharity's share ofthe funds' assets 2,404 2,057
Present value ofthe defined benefit obligation (2,259) (2,289)
Charity's share ofthe funds' net deficit 145 (232)
31March 31March
2022 2021
f000 EOOO
The analysis ofthe assets ofthe scheme is as follows:
Equities 1,368 1,118
Target return
funds		 518 484
Infrastructure 245 174
Property 216 187
Cash 57 94
Total 2,404 2,057
Reconciliation ofdefined benefit obligation:
Opening defined benefit obligation 2,289 1,853
Current service cost 47 38
Interest cost 44 43
Contributions
by members		 7 7
Estimated
benefits paid, net oftransfers		 in (22) (67)
Change in financial assumptions (110) 455
Experience gain / (loss) on defined benefit obligation 4 (21)
Past service costs including
curtailments		 0 0
Change in demographic
assumptions		 0 (19)
Closing defined benefit obligation 2,259 2,289

Reconciliation offair value ofemployer Reconciliation offair value ofemployer assets: assets: assets:
Opening fair value ofemployer assets 2,057 1,778
Interest on assets 40 41
Contributions
by members		 7 7
Contributions
by employer,
including		 unfunded 26 27
Return on assets less interest 299 273
Administration
expenses		 (3) (2)
Estimated
benefits paid plus unfunded		 transfers
in		 (22) (67)
Other actuarial
gains		 0 0
Closing fair value ofemployer's
assets		 2,404 2,057
he total return on fund assets for the year to 31March 2022 was f339k (2020/21f314k).
mounts
recognised
in the Statement		 of Financial Activities in respect ofdefined benefit
Year Year
ended 31 ended 31
March March
2022 2021
f000 f000
Service cost 44 49
Net interest on the defined
liability		 (4) 4
Administration
expenses		 3 3
Tota I loss / (profit) 56
emeasurements
in other comprehensive		 income:
Year Year
ended 31 ended 31
March March
2022 2021
Remeasurement
ofthe net assets / (defined		 liability) f000 f000
Return on Fund assets in excess ofinterest 299 273
Other actuarial
gains
/ (losses) on assets		 0 0
Change
in financial
assumptions		 110 (455)
Change
in demographic
assumptions		 0 19
Experience
gain / (loss) on defined benefit		 obligation (4) 21
Changes
in effect ofasset ceiling		 0 0
Remeasurement
ofthe net assets/(defined		 liability) 405 (142)

1April 2022
to 31March
2023
EOOO
Service cost
Net interest cost (4)
Administration expenses 3
Total charge
Estimated
employer's		 contributions 26

Year Ended Year Ended
31March 31March
2022 2021
EOOO EOOO
Net income / (expenditure)
for the year		 216 4,621
Depreciation
and amortisation		 36 50
Disposal ofsocial investment 11 7
(Gains) / losses on investments (292) (3,601)
Change of provision
- bad debts		 (6)
Defined benefit pension scheme adjustment 28 15
Returns on Investments (866) (862)
(Increase) / decrease in debtors 857 (217)
Increase / (decrease) in creditors 15 (45)
Net cash provided
by / (used by) operating		 activities (32)

31Iviarch 31March
2022 2021
6000 f000
Financial assets
Financial assets measured at
expenditure		 fair value through income and 25,041 23,385
Financial
cost		 assets that are debt instruments measured at amortised 2,306 3,650
27,347 27,035
Financial liabilities
Financial liabilities measured at amortised cost (158) (143)
31March 31March
2022 2021
6000 6000
Total investment
income for financial
value through
income and expenditure		 assets measured at fair 866 862
Net gains on financial assets measured
income and expenditure		 at fair value through 292 3,601

5.Reconciliation
ofNet Debt
1April 2021 Cashflows 31March 2022
6000 f000
Cash 2,374 (502) 1,872
Finance lease obligations
Tota I 2,374 (502) 1,872