Lord Clinton's Charitable Trust
Annual Report
Year ended 31 March 2022
Registered Charity Number". 268061
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|ge|||
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|1-3|Trustees' Report||
||Independent
Examiner's|Report|
||Statement
of Financial|Activities|
||Balance Sheet||
|7-14|Notes to the Accounts||
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|Trustees||The Hon Charles Fane Trefusis|The Hon Charles Fane Trefusis|
|---|---|---|---|
|||Mr J CVarleyOBE|TD|
|Charity number||268061||
|Principal address||Clinton Devon Estates||
|||The Rolle Estate Office||
|||Bicton Arena||
|||East Budleigh||
|||Budleigh
Salterton||
|||Devon
EX97BL||
|Independent|examiner|Neil Hitchings
FCA||
|||Francis Clark LLP||
|||Centenary
House||
|||Peninsula
Park, Rydon Lane||
|||Exeter EX27XE||
|Investment|managers|Sarasin 8 Partners|LLP|
|||Juxon House||
|||100St Paul's Churchyard||
|||London
EC4M SBU||
|Solicitors||Forsters LLP||
|||31 Hill Street||
|||London
W1J 5LS||
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|Year ended 31 March 20|22|||||||
|---|---|---|---|---|---|---|---|
|||Note|Unrestricted|Restricted|Endowment|Total|Total|
||||Funds|Funds|Funds|Funds|Funds|
|||||||2022|2021|
||||E|f|E||F|
|Income and endowments||||||||
|Donations
and legacies||||5,000||5,000|5,000|
|Investment
income|||21,639|||21,639|22,856|
|Management
fee rebate|||512|||512|405|
|Total income|||22,151|5,000||27,151|28,261|
|Expenditure||||||||
|Expenditure
on charitable|activities|||||||
|Grants payable
in furtherance||||||||
|ofthe charity's objects||10|23,200|1,320||24,520|19,025|
|Total expenditure|||23,200|1,320||24,520|19,025|
|Net gains on investments|||||8,116|8,116|131,037|
|Net (expenditure)/income|and|||||||
|movement
in funds|||(1,049)|3,680|8,116|10,747|140,273|
|Reconciliation offunds:||||||||
|Total funds brought
forward|||41,959|16,568|824,450|882,977|742,704|
|Total funds carried forward|||40,910|20,248|832,566|893,724|882,977|
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|3|Income and endowments|Income and endowments|||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Investment|income|||E||
||Income from:||||||
||UK investments
listed on a recognised|||Stock Exchange (net ofequalisation)|21,631|22,842|
||Cash held|as part ofthe investment|portfolio||8|14|
||||||21,639|22,856|
||Donations|and legacies|||||
||Donations|received from related parties|||5,000|5,000|
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|Statement of prior year f|inancia|l
activity (|for the year ended 3|1 INarch 202|1)||
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Endowment|Total|
||||Funds|Funds|Funds|Funds|
|Income and endowments|||||||
|Donations
and legacies||||5,000||5,000|
|Investment
income|||22,856|||22,856|
|Management
fee rebate|||405|||405|
|Total income|||23,261|5,000||28,261|
|Expenditure|||||||
|Expenditure
on charitable|activities||||||
|Grants payable
in furtherance||ofthe|||||
|charity's objects|||19,025|||19,025|
|Total expenditure|||19,025|||19,025|
|Net gains on investments|||||131,037|131,037|
|Net income and|||||||
|movement
in funds|||4,236|5,000|131,037|140,273|
|Reconciliation offunds:|||||||
|Total funds brought
forward|||37723|11,568|693,413|742,704|
|Total funds carried forward|||41,959|16,568|824,450|882,977|
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|Fixed asset investments||||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||||||||F|
|UK investments
listed on a reco|nised stock exchan|||e||||
|26,000 Sarasin Global Higher Dividend||(Sterling||Hedged) - Xlnc||48,130|45,568|
|20,100 Sarasin Thematic
Global Equity||(Sterling||Hedged)|- Xlnc|49,996|48,862|
|50,000 Sarasin Climate Active Endowments|||Fund - A Inc|||62,224|60,730|
|149,700 Sarasin Income &Reserves Fund -|||A lnc|||163,011|170,333|
|400,000 Sarasin Endowments|Fund - A|Inc||||487,306|477,058|
|||||||810,667|802,551|
|Cash held as part of investment|portfolio|||||7,641|7,129|
|Total investments
at 31 March|2022|||||818,308|809,680|
|||||Listed|Cash|2022|2021|
|Reconciliation||Investments|||at Broker|Total|Total|
|Market value at 1 April 2021|||802,551||7,129|809,680|678,238|
|Disposal||||||||
|Additions
to investments
at cost||||||||
|Equalis ation||||||||
|Management
fee rebate|||||512|512|405|
|Net gain on revaluation
at||||||||
|31 March 2022||||8,116||8,116|131,037|
|Market value at 31 March 2022|||810,667||7,641|818,308|809,680|
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||||Balance at|Income|Expenditure|Balance at|
|---|---|---|---|---|---|---|
||||1 April 2021|||31 March 2022|
||||E||E||
|Kingfisher
Fund|||5,000|2,500||7,500|
|Huish Church|Fund||1,807|||1,807|
|Wider Huish Area Fund (formerly||Bridge Fund)|4,761||(1,320)|3,441|
|Otterton
Fund|||5,000|2,500||7,500|
||||16,568|5,000|(1,320)|20,248|
|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||Funds
f|Funds
E|Funds|2022f|
|Fund balances at 31 March 2022 are||||||
|represented|by:|||||
|Fixed assets||||818,308|818,308|
|Net current assets||40,910|20,248|14,258|75,416|
|||40,910|20,248|832,566|893,724|
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|Comparati|ve
funds note - year|ve
funds note - year|ve
funds note - year|ended 31 Mar|ch 2021||||
|---|---|---|---|---|---|---|---|---|
|Restricted|funds||||||||
||||||Balance at|Income|Expenditure|Balance at|
||||||1 April 2020
E||f|31 March 2021
f.|
|Kingfisher|Fund||||2,500|2,500||5,000|
|Huish Church|||Fund||1,807|||1,807|
|Wider Huish||Area Fund (formerly||Bridge Fund)|4,761|||4,761|
|Otterton
Fund|||||2,500|2,500||5,000|
||||||11,568|5,000||16,568|
|Analysis of||net assets between||funds|||||
||||||Unrestricted|Restricted|Endowment|Total|
||||||Funds|Funds|Funds|2021|
|||||||f||F|
|Fund balances|||at 31 March 2021|are|||||
|represented||by:|||||||
|Fixed assets|||||||809,680|809,680|
|Net current|assets||||41,959|16,568|14,770|73,297|
||||||41,959|16,568|824,450|882,977|
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|Unrestricted
funds|||||
|---|---|---|---|---|
||Individuals|Institutions|Total 2022|Total 2021|
|||F|E|E|
|Local|||||
|Healfh and wellbeing|||||
|Dame Hannah
Rogers Trust||800|800|800|
|North Devon Cancer Care||500|500|500|
|||1,300|1,300|1,300|
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|Unrestricted
funds
continued||||||||
|---|---|---|---|---|---|---|---|
||||Individuals|f|Institutions
f|Total 2022
f|Total 2021
f|
|Local (continued)||||||||
|Local Community||||||||
|Knowle Village Hall|||||900|900||
|East Budleigh
with Bicton PC|||||1,320|1,320||
|Devon Historic Churches
Trust|||||1,000|1,000||
|St Mary Magdalene
Church|||||500|500||
|StSampsons
Church|||||500|500||
|Open Door, Exmouth|||||500|500||
||||||4,720|4,720||
|Parish councils||||||||
|Bicton Parish Recreation
rooms|||||||700|
|Budleigh Salterton
Relief in Need|||||||2,000|
|Vicars Christmas
Fund - East|Budleigh 8 Otterton||||600|600|600|
|Vicars Christmas
Fund - Newton||Poppleford|||800|800|800|
|Newton
Poppleford
8 Harpford|PC||||||500|
||||||1,4QO|1,400|4,600|
|Young people||||||||
|Mill Water School|||||||5,250|
|Woodbury
Salterton
Primary School|||||||500|
|Woodbury
Primary School|||||||895|
|Littleham
Primary School|||||||1,100|
|St Peters Primary School|||||||1,450|
|St Christophers
School|||||500|500|2,000|
|Beer Primary School|||||||1,250|
|Link Academy
Trust (Otterton|Primary School)||||200|200||
|The Henry Plumb
Foundation|||||500|50Q||
|Whimple
Primary School|||||100|100||
|Moretonhampstead
Swimming|Pool Trust||||500|500||
|Exmouth Sea Cadets|||||100|100||
|Dartmoor
Multi Academy Trust|||||200|200||
|Bude Refugee Support Group|||||250|250||
||||||2,350|2,350|12,445|
|Other||||||||
|Lions Club of Budleigh Salterton|||||100|100|100|
|JTCockram - Christmas
Trees|||||430|430|280|
|South West Heritage Trust|||||100|100||
||||||630|630|380|
|Total Local|||||10,400|10,400|18725|
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|Unrestricted
funds|continued|||||||
|---|---|---|---|---|---|---|---|
||||Individuals||Institutions|Total 2022|Total 2021|
|||||E|K|||
|National
and International||||||||
|British Armed Forces||||||||
|The Royal British Legion Poppy||Appeal|||300|300|300|
|Royal Marines Charity|||||2,000|2,000||
||||||2,300|2,300|300|
|Disaster Relief||||||||
|British Red Cross|||||10,000|10,000||
||||||10,000|10,000||
|Other||||||||
|Game &Wildlife Conservation||Trust|||500|500||
||||||500|500||
|Total National
and International|||||12,800|12,800|300|
|Total Unrestricted|funds||||23,200|23,200|19,025|
|Restricted funds||||||||
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