| Legal and administrative information |
Legal and administrative information |
1 |
|---|---|---|
| Report of the trustees | 2 | |
| Report of the independent auditors to the trustees | 10 | |
| Statement of financial | activities | 15 |
| Statement of financial | position | 16 |
| Notes to the financial | statements | 17 |
| Unrestricted | Unrestricted | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|---|
| income | capital | Total | Total | |||||
| Notes | ||||||||
| INCOME AND ENDOWMENTS | ||||||||
| Investment income |
2 | 391, 367 | 391,367 | 359,590 | ||||
| Total income |
391, 367 | 391, 367 | 359, 590 | |||||
| EXPENDITURE ON |
||||||||
| Raising funds Investment management |
fees | 3 | 25, 298 | 25, 298 | 50,596 | 58, 161 | ||
| Charitable activities |
4, | 5 & | 6 | 314, 669 | 193, 669 | 508, 338 | 390,976 | |
| Other | ||||||||
| Governance costs |
5 & | 7 | 15, 504 | 15, 505 | 31, 009 | 30, 173 | ||
| Total expenditure | 355, 471 | 234, 472 | 589, 943 | 479, 310 | ||||
| Net income/(expenditure) | 35, 896 | 234, 472) | 198, 576) | 119, 720) | ||||
| Other recognised gains |
and losses | |||||||
| Realised ( losses)/ gains on investments |
8 | 431, 338) | 431, 338) | 55, 123) | ||||
| Unrealised ( losses)/ gains |
on investments | 8 | 216,350) | 216, 350) | 137,516) | |||
| Other gains / ( losses) Exchange gains/(losses) |
10, 646) | 10,646) | 21, 292) | 1, 622 | ||||
| Total recognised gains and losses |
10,646) | 658, 334) | 668, 980) | 191, 017) | ||||
| Net movement in funds | 25, 250 | 892, 806) | 867, 556) | 310, 737) | ||||
| Reconciliation of funds | ||||||||
| Total funds brought forward 06 April | 2022 | 119, 405 | 10,597,435 | 10, 716, 840 | 11, 027,577 | |||
| Total funds carried forward 05 April | 2023 | 144, 655 | 9,704,629 | 9,849,284 | 10,716,840 |
| Notes | 2023 | 2022 | ||
|---|---|---|---|---|
| FIXED ASSETS | ||||
| Investments at market value |
8 | 9,346, 860 | 10,515, 334 | |
| CURRENT ASSETS | ||||
| Cash at bankibroker |
9 | 512, 457 | 207, 518 | |
| Debtors | ||||
| Loan receivable |
10 | 28, 022 | 27, 646 | |
| 540, 479 | 235, 164 | |||
| LIABILITIES | ||||
| Creditors falling due within one year | 11 | 38, 055 | 33,658 | |
| NET CURRENT | ASSETS | 502, 424 | 201, 506 | |
| TOTAL NET ASSETS | 9, 849, 284 | 10, 716, 840 | ||
| THE FUNDS OF | THE CHARITY | |||
| Unrestricted income funds |
||||
| Capital account | 9,704,629 | 10, 597, 435 | ||
| Income account |
144, 655 | 119, 405 | ||
| UNRESTRICTED | FUNDS | 12 | 9,849,284 | 10, 716, 840 |
| 2. | INVESTMENT INCOME | 2023 | 2022 |
|---|---|---|---|
| Dividends -UK equities | 140,798 | 133, 366 | |
| Interest —bank deposits | 16,750 | ||
| Interest —fixed interest securities &funds | 233, 819 | 226, 224 | |
| 391, 367 | 359, 590 | ||
| 3. | INVESTMENT MANAGEMENT FEES | 2023 | 2022 |
| Investment management fees,inclusive of custodian charges |
50, 596 | 58, 161 |
| 4. | GRANTS AWARDED |
GRANTS AWARDED |
2023 | ||
|---|---|---|---|---|---|
| Grants from income: | |||||
| Action for Kids | 4,000 | ||||
| Activeens | 2,000 | ||||
| Age Concern East Sussex | 3, 000 | ||||
| Alexandra Rose Charity |
2,000 | ||||
| Alice House Hospice | 4,000 | ||||
| Be Enriched Elements | 4,000 | ||||
| Bollington Community |
Association | 4,000 | |||
| British Red Cross Society Emergency Appeal | 5, 000 | ||||
| Care for Carers | 3, 000 | ||||
| Care in Mind | 3,000 | ||||
| Chailey Heritage Foundation | 2,000 | ||||
| Childrens'Heart Federation | 3, 500 | ||||
| Community Action Ghana | 3, 000 | ||||
| Cyrenians | 3, 000 | ||||
| Demelza House Childrens'Hospice | 2,000 | ||||
| Dentaid Limited | 4,000 | ||||
| Dunfermline Athletic Disabled |
Supporters | 4,000 | |||
| Eric Lidell | 2,000 | ||||
| Erskine Hospital | 2,000 | ||||
| Father Hudson Society | 3, 000 | ||||
| Feedback | 2,000 | ||||
| Fight against blindness | 3, 000 | ||||
| Golden Oldies |
4,000 | ||||
| Good Neighbours UK | 3, 000 | ||||
| Grounded Community | 3, 000 | ||||
| Gympanzees | 2,000 | ||||
| Harrow Samaritans | 1, 000 | ||||
| Hope House Childrens' | Hospice | 2,000 | |||
| Intouch/ Kids United | 4,000 | ||||
| Kids n' Action | 5, 000 | ||||
| Sub -total carried forward | 91, 500 | ||||
| 20 |
| 5 | APRIL | 2023 | ||
|---|---|---|---|---|
| 4. | GRANTS AWARDED ( continued) |
2023 | ||
| f. | ||||
| Sub -total brought forward |
91,500 | |||
| Lake District Mobility | 4,000 | |||
| Livingstone Tanzania Trust | 2,000 | |||
| London Wheelchair Rugby Club | 4,000 | |||
| Marie Curie | 3, 000 | |||
| Motor Neurone Disease Association | 3,000 | |||
| Music of Life Foundation | 4,000 | |||
| Newlife Charity Disabled Children | 3, 000 | |||
| Northern Ballet |
2,000 | |||
| Our Special Friends Ltd | 5, 000 | |||
| Outward | 4,000 | |||
| Overgate Hospice |
3, 000 | |||
| Pasic Cancer support |
3, 000 | |||
| React | 4,000 | |||
| Richmond Furniture Scheme | 4,000 | |||
| Ryde Methodist Church | 2,000 | |||
| Salvation Army UK | 20, 000 | |||
| Save the Children -Emergency Appeal | 5, 000 | |||
| Save the Children -Pakistan | 5, 000 | |||
| Save the Children -Turkey | earthquake appeal | 10, 000 | ||
| Scottish Outdoor Education | Centre | 4, 000 | ||
| Seashell Trust | 3, 000 | |||
| Solihull Moors Foundation | 2,000 | |||
| Spread Some Sunshine | 2,000 | |||
| St Christopher' s Hospice | 4,000 | |||
| Sunshine Wishes Childrens' | Charity | 3,000 | ||
| Suvai Deafeast Community | 1, 500 | |||
| Teenage Cancer Trust | 5, 000 | |||
| The Africa Foundation | 4, 000 | |||
| The British Disabled Angling Association | 3, 000 | |||
| The Brock Garden Centre | 4,000 | |||
| Sub -total carried forward | 217, 000 |
| 4. | GRANTS AWARDED ( continued) |
2022 |
|---|---|---|
| Sub -total brought forward |
217,000 | |
| The Connection at St Martin in the Field | 20, 000 | |
| The Cotton Tree Trust |
3, 000 | |
| The Dolphin Society | 3, 000 | |
| The Ellen MacArthur Cancer Trust |
5, 000 | |
| The Guide Dogs for the Blind | 5, 000 | |
| The Ickle Pickle Partnership Limited | 4,000 | |
| The Myton Hospice | 3, 000 | |
| The Olive Branch ( Faith in action) | 4,000 | |
| The Open Door Edinburgh | 4,000 | |
| The Separated Children Foundation | 5,000 | |
| Thomley Hall Centre | 4,000 | |
| Tools for Solidarity | 1, 000 | |
| Victoria College | 3, 000 | |
| Wessex Childrens'Hospice | 4,000 | |
| West Coast Crash Wheelchair Rugby | 3, 000 | |
| Willow Foundation | 2,000 | |
| Wings for Warriors | 3, 000 | |
| Total grants from income | 293, 000 | |
| Grants from Capital: | ||
| ABF The Soldiers Charity | 4,000 | |
| Big Issue Foundation | 2,000 | |
| Boccia England | 3, 000 | |
| Butterwick Limited | 3, 000 | |
| Childrens'Heart Surgery Fund | 4,000 | |
| City Escape | 2, 000 | |
| Clatterbridge Cancer Charity |
2,000 | |
| Dentaid | 91, 000 | |
| Diverse Abilities | 3, 000 | |
| Sub -total carried forward | 114,000 |
| 4. | GRANTS AWARDED ( |
continued) | 2022 |
|---|---|---|---|
| f. | |||
| Sub -total brought forward | 114,000 | ||
| Great Western Air Ambulance | 3, 000 | ||
| Heart of Kent Hospice | 5, 000 | ||
| Katharine House Hospice |
2,000 | ||
| Noah' s Ark Childrens' Hospice |
3, 500 | ||
| Norfolk Hospice |
3, 000 | ||
| North Yorkshire Hospice Care |
4,000 | ||
| Prisoners'Education Trust | 2,000 | ||
| Quest for Learning | 4,000 | ||
| Sick Childrens' Trust |
4,000 | ||
| SPACE | 1, 000 | ||
| St Joseph' s Hospice Association | 2,500 | ||
| St Wilfred' s Hospice |
2,000 | ||
| Sudden Productions | 2,000 | ||
| Thames Valley Air Ambulance | 4,000 | ||
| Ty Hafan | 3, 000 | ||
| Wakefield Hospice | 5, 000 | ||
| Whizz Kidz |
5, 000 | ||
| Willow Wood Hospice | 3,000 | ||
| 172, 000 | |||
| Total grants from capital |
| Charitable | ||||
|---|---|---|---|---|
| Total | Governance | activities | Basis of | |
| allocated ( | Note 7) | Note 6) | apportionment | |
| Administration, | ||||
| 80%charitable | ||||
| accountancy & | ||||
| office expenses | 54,172 | 10, 834 | 43, 338 | activities |
| Allocation | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|
| Grant | of 50%of | income | income | |||||
| Sector | funded | support | fund | fund | ||||
| activity | costs | 2023 | 2022 | |||||
| Grants from income |
||||||||
| Medical | and social | care | 15 | 45, 500 | 3, 365 | 48, 865 | 107, 941 | |
| Disabled | and aged | 32 | 92,500 | 6, 841 | 99,341 | 88, 917 | ||
| Homeless | 8 | 24, 000 | 1, 775 | 25,775 | 30, 639 | |||
| Children | and young | persons | 37 | 108, 000 | 7,987 | 115, 987 | 110,147 | |
| Church and community | projects | 8 | 23, 000 | 1, 701 | 24,701 | 32,844 | ||
| 293, 000 | 21, 669 | 314, 669 | 370, 488 | |||||
| Capital | Total | Total | ||||||
| Total | 50%of | charitable | charitable | |||||
| Sector | income | support | activities | activities | ||||
| 2023 | costs | 2023 | 2022 | |||||
| Grants from income | ||||||||
| Medical | and social | care | 15 | 48, 865 | 3, 365 | 52,230 | 113, 882 | |
| Disabled | and aged | 32 | 99, 341 | 6, 841 | 106, 182 | 93, 834 | ||
| Homeless | 8 | 25,775 | 1, 775 | 27,550 | 32, 278 | |||
| Children | and young persons | 37 | 115, 987 | 7,987 | 123, 974 | 116, 294 | ||
| Church and community | projects | 8 | 24,701 | 1, 701 | 26,402 | 34,688 | ||
| 314, 669 | 21, 669 | 336,338 | 390, 976 | |||||
| Grants from capital | ||||||||
| Medical | and social | care | 84 | 145, 000 | 145, 000 | |||
| Disabled | and aged | 6 | 10, 000 | 10, 000 | ||||
| Homeless | 1 | 2, 000 | 2,000 | |||||
| Children | and young | persons | 8 | 14, 000 | 14,000 | |||
| Church and community | projects | 1 | 1, 000 | 1, 000 | ||||
| Total Charitable Activities |
314, 669 | 193, 669 | 508,338 | 390, 976 |
| 7. | ANALYSIS OF GOVERNANCE COSTS | ANALYSIS OF GOVERNANCE COSTS | |||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Trustees'expenses | 5,686 | 5, 656 | |||
| Auditors remuneration | 5,240 | 4,920 | |||
| Administration,accountancy & | sundry ( refer to note | 5) | 10,834 | 10, 243 | |
| Legal and professional fees — | database development | 9,249 | 9,354 | ||
| 31, 009 | 30, 173 | ||||
| Governance costs have been allocated equally between income and capital, |
| 8. | FIXED ASSET INVESTMENTS | ||
|---|---|---|---|
| Movement in fixed asset investments | 2022 | 2021 | |
| Market value at beginning ofthe year | 10,515,334 | 10,783,243 | |
| Additions at cost | 4,780, 855 | 723,416 | |
| Disposal proceeds | 5,301, 641) | 798, 686) | |
| Net investment gains/(losses):- | |||
| Realised | 431, 338) | 55, 123) | |
| Unrealised | 216,350) | 137,516) | |
| Market value at the end of the year | 9,346, 860 | 10,515, 334 | |
| Historical cost at the end of the year | 9,040,773 | 9,642,059 | |
| Investments at market value comprised: | |||
| Equities and fiends | 4,832,690 | 6,098, 308 | |
| Fixed asset securities | 4,514, 170 | 4,417, 026 | |
| 9,346, 860 | 10, 515, 334 | ||
| UK investments | 1, 938,053 | 2, 531, 448 | |
| Overseas investments | 7,408,807 | 7,983, 886 | |
| 9,346,860 | 10,515,334 |
| Investment | Shareholding % | Total | Market value | |
|---|---|---|---|---|
| market value | 2023 | |||
| Aegon High Yield Global | 212, 000 | 9.92% | 927,161 | |
| Bond A GBP | ||||
| New Capital Wealthy Nations Bond Fund GBP | 6, 570 | 5. 97% | 557,727 | |
| Guinness Global Equity Income B USD JP Morgan Income A Div USD |
45, 000 4,730 |
7.00% 5. 17% |
654, 585 483, 106 |
|
| Pimco Global Investors Series Plc Income | 61, 000 | 5. 43% | 507, 520 | |
| Fund GBP | ||||
| Standard Chartered plc 5. 125%06/ 06/2034 | 590, 000 | 5. 65% | 528, 168 | |
| 9. | CASH AT BANK | Account | 2023 | 2022 |
| Capital | ||||
| UBS AG,Jersey ( GBP &EUR &USD) | Deposit | 371, 397 | 132, 732 | |
| Income | ||||
| UBS AG,Jersey ( GBP,EUR &USD) | Deposit | 136, 258 | 52, 506 | |
| Barclays Bank Plc | HICA | 22, 280 | ||
| Butterfield Bank Jersey |
Call | 4,802 | ||
| 141,060 | 74,786 | |||
| Total cash at bank | 512, 457 | 207, 518 | ||
| 10. | LOAN RECEIVABLE | 2023 | 2022 | |
| Capital | ||||
| The Executors of C V Green | 28,022 | 27,646 |
| 11. | ANALYSIS OF CURRENT | ANALYSIS OF CURRENT | LIABILITIES: | ||
|---|---|---|---|---|---|
| Creditors under one year |
2023 | 2022 | |||
| Income | |||||
| Custodian fees |
1, 112 | 1, 115 | |||
| Investment management | fees | 5,565 | 6, 097 | ||
| Administration fee and |
sundry | expenses | 6,513 | 7, 117 | |
| Audit fee —Spenser Wilson & | Co | 2,600 | 2,500 | ||
| Database maintenance | 3,237 - | ||||
| 19, 027 | 16, 829 | ||||
| Capital | |||||
| Custodian fees | 1, 112 | 1, 115 | |||
| Investment management | fees | 5,565 | 6,097 | ||
| Administration fee and | sundry | expenses | 6,513 | 7, 117 | |
| Audit fee —Spenser Wilson & | Co | 2,600 | 2,500 | ||
| Database maintenance |
3,238 | ||||
| 19, 028 | 16, 829 | ||||
| Total income and capital current liabilities |
38, 055 | 33, 658 |
| Funds b/f | Incoming resources |
Resources expended |
Gains & losses |
Funds c/f | |
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | 10, 716, 840 | 391,367 | 589,943) | 668, 980) | 9,849,284 |