The Everard Foundation Annual Report & FÉnancial Statements For the Year Ended 5th April 2022
The Evergrd FouJdation Page I Aniual rt for the Year Ended 5 2022 L¢gal and Adminigtrntion Detsik Thettiistees aTe ple&8ed kn penttheirreporttogetherwith the financial ststements of th¢ ¢harity for th¢ year ended 5th April 2022. The fmancial statementshave been PTepared in accoTdance with th¢ accounting polici# set out in th¢ notes to the the acwunts and comply with the chaTitys goveming document. The Chariti% Ad2011 and Ac¢ounting attd Reporting by Charities: gtaternent of Reeommended Prg¢tice applicable to charities preparin4 their accounts in accordanc¥ with th¢ Financial R¢portiD8 Stat)dard 4)pli¢able in the UK and Republic 0£118d wblished in Othib¢r 2019. Th¢ Tnwees affling throughout the ycar, who were not tunun¢rnted and rectiyed nts expenses. w¢r¢: Mr. Richard A.S. EVerd Mrs. serA. RT¢hords Mr. Simon J. Athinson Mrs. ChsTlotte lone Vowl&s Mx. Atkingm ig, htswevu. & pgrtner in Currey & Co LLP. 33 Quetn Anne Stre£L )Ton WIG 911Y, 5oliciiQrn to the twst who provided accountsncy and tsx services Ghargiti8 an annual f¢e in this connection. detsils of which appear in the financial Sents. The inve9tment portfolto managerg gre Eve Parinets, 45 Gresham Strctl London EC2V 7BO. Th¢ eharityg bankerg are Natwest PIE LLicester City. The independent ex8Tniner ig Ailsa Farey CA. of MillbankFinanGiAI S¢ThiG65 Fourth FIr, 7 Swallow Str¢¢4 LondoT4 WIB 4DE Stru¢¢uTe ManagetheD* The chgrity was esrablished as & grani making trust by D¢ed of Trust dat¢d I lth Ortobtr 1976 and is rystwed with the Charity commissio No.. 272248. The ¢haTity's address is 33 Qell Anne Street, London WIG 9HY. The eh3Tity is controll&1 by a l)o&rd of tru5tGefj who llwi4g¢ all aspects of the tilt$ affAirs and in hom vests the Wer to app(pinl tnJst¢d. Thetraitting needs of the tntstéts are revièwed on an gnnual basls. ond existing truste¢s a provided with traInll ¥ and Wh required. ThBtiainins costs inGurred in the cuttefit ye&r wer¢ £blil12020,QI.. £Nil)- They have received appropriate briefing on their responsibillties uniler the law relating to ¢hariti¢s and th¢ir duty to cnsurethat their charitabl¢ activities are for th¢ public b¢n¢fit. Tho geleetiot) of future trustees wll have Tegard to th¢ skills, knowl¢dge and experience needed for thc ¢ffefflive administration ofthe tharity. Any new tru$tees will be piovided with copies of the Chsrity Con]SSIon,5 guidartC£ to trustees and gtv¢n an iDtroduction EO tnE #iLl¥li4¥b VL Uif Wi4uIIy VJ Ultr R¢i#ttd Parties No transactions took place with reIated parties although ¢xp¢Dses are ¢harged for the services provided by Currey & Co LLP as disG105ed abov
PagF 2 Risk Manag¢m¢llt The majorrisks to whi& the chlty is dwretically e profitabilty thus dividen& deelartd onthe tr8, SI1£¢ant shartholdittg lll Evetard Brewery Ltd ("EB Ltd"). I privately owThl comp2ny. andthe incomktM of its invesfvt are a SIlfilt downtutn in anagcr5 alld th¢ ttaud or n(gSe olth¢ 513 01 th¢ir bankGr4 dgmts oin0Ill&, Thelrustee$ believe tbat by delegAting investment management to recognised cithTity ]nY¢stu profts5ipnals and monitoriug th¢irperfOnee, they have established the ffectivt systems to miti8at¢ th¢se risks. The twstees 8]so believe that ti remaing in the trtr$ kst intcrc to (ontitiue to hold shares in EB Lid in the eiyectstion of a reasonabl¢ davidend income strexm deriving from that shehOlding. The trE]Stees maintsin close Itnks with th• B¢)ard of DireGtor5 of EB Ltd and r¢D]ain confAdert¢ in th¢ manawt of the Company. The trusteeg. ha8Yng agsessed these ri$ks. 2re satisfied that systems are pia¢e to mitiwe the charitys exposure thereto. The Tnastees have $atisfi¢dthet)yclve5 that thetsitst is a going eoftcern and hag adequate resources to continue in operaiional existence for the forcable futtwe. Th¢ chaTitabl¢ activities are funded by the inv¢btr¢nc portfolio and alth(gh Covid-19 has had a negative ithpact on this, the portfolio has Sufficicnt VRluc to.wpport c4)ntinued gtEnr nking. obJ¢th Jnd ArthTits¢s The charitils obj¢tts PTovide thatr. "Subjectto any appointment the Tn]stees should hold the Tmst Fund upon Tnjst io pay or wply tFLe income thEreof to such charktable follndations 8nd for sueh eh2Titable pwpos¢s a5 the TTUSttts in th¢ir di5cr¢tion shall from tim¢ to lim¢ think fit" In wnsidering how best lo achieve these objeuives the tnLStees hav¢ had rrwd to tli¢ 8uidanc¢ on public benefft isgued by the Chariry Louunission. The objective of the trust ig to geekio obtain a su5tsinable rctum fmm Iheir investment po0110 and in parti'¢ular an income in¢r¢agins at le&st in line with flativ51 ov¢[ th¢ medLUm terni. The charity is reliant on receiving neithtr additionh] fimding from donors nor any particul¥r I] of in¢om¢ froln its inv¢sknent& The trustec5 nomMSty oftly DRke grants or103EJs to Oth r¢gigtsred eh2ritie$ in 9re9s in whieh the ttuslees have an interest in parti¢ulor, the advan¢¢m¢nt ol¢ili•W)ip or WmmUDity velopm¢ni envir4)nm¥ntsl proteL#ion #nd irnprovemert 2thd the telief of th018 in need in and ground the county of t£ic£st¢r5hire. The 5GOP6 of th¢it giving is detem)in¢d only by the ext¢ni of their resources" it is nol otherwjsc r¢5tri&ed either geowhically. or by th? type of aetivity cale on by prospcctiv¢ btn¢fi¢iarie5 or Y&ppli(nts. Th$ tnjsoes continue to rnake gtants in support of eharitsble organisations in furtherance of the chwitys objeL foT the publi¢ t¢n¢fit. Public Benefrt Thetrusteeg confllrn that they have complied with the duty in section 17 of th¢ Chariti¢s Ath 2011 and hay¢ referred to the 8UIdan ¢ontained in the Charity Commis5ion'$ 8eneral guidanee on publi beT3efit when reviewirftgthe cl]3ritJls aims and objeciives and in planning firtut¢ tiVitI¢3 and s¢tting thc donations policy for the year. The benefrtthat a[eS is the provisiort of fimdingto org8nis8tions that demongErate charitable purp)s
verard F Page 3 AllJMal R¢ rt foT the Y¢ar EDded 5th A ri12022 Achievements and Ptrfomam¢¢ During th¢ Gours¢ of th¢ yearth¢ trust made16 totallin8 £76,8SO as set out in note S Èo these arunts. The trL4tees ¢onsider thattheirprincipal objectives ar¢ being achievfra. Thetrust¢¢s arÈ pleased with the progress made in the fi1Cial year 5th April ?022 gnd look fonvard to allding th¢ir work with nw]y oth¢r chariti&s in the yeaTS to Gom¢. Vinanclal Review On 5th April 2022 the inv¢51ment portfolio was worth £17231240 0020121.. £17.233.060) and in th¢ year endins 5th April 2022 the investsnent income was £61,852 (2020121: £78.391). The expenditure on ¢harit8ble activitie5 talled £55.288 (2020r21.. £76.980). The tNstee5 recOlse thatno dividends wert Serated from EB Ltd In 2021122, and the only incomc was g¢n¢rated from the trnstces, portfolio of inYLstments Tnanagal by S1th & williau0TI Inv¢stm¢nt Manag¢m¢nt LiTnit&l. The tsust¢es are 5fyti$fied thatthe d)arity's ass¢ts are available arKI adequate to meet its obligations. Fixed Asset IVeStMets lttvesttnents are a forni of ble finanelal instnttnent and are initially recognised at theirtrangsction Yalu¢ and subs¢qu¢ntty m¢&sur¢d atth¢ir fair Yajuc as * the balance sheet dat¢ using th¢ closing quoted tnarket price. The Statt of fjnancial actiiryties include5 the net g#sns 8nd losses arising on r¢YaluyAtion disp05a]s throughout the year. Th¢ forni of fillan¢ial risk taced by the tharity is that of volatility in equity maTk¢ts and investment markets due to wider economic condition& the atti¢ of investm to invesiTheJit risL and Changes in sentiment con¢erning equities and within particularsectors or sub sectors. Reallsed Gains #od LTrss¢S All £ains and losse5 aTe kn to the Stat¢mcnt of FinanGial Activities as th¢y aris¢. Realised gains and 1058e$ tsn 5nveStments are calculated as the diff¢rErtce bthveen sales proceeds and their opeThing carrying valu¢ or their pur¢hase valu¢ if aquired sub5¢qu¢n¢ to the fjrst dY4y of the rJnkn¢ial yw. UnT¢#li18d gAins 2nd loggeg gre rgleulAted 99 the differenoe berween the fair v21ue atthe year end and their caryg value. Realised and UnT]sed investtnent gains and lo5se5 3re combined Jrt the Statement of Financial Activitie5. EJDplDyees The charity 6mploys no staff. the Trnst D¢ed the tre$ are etAt)owèt&l to invegt in anytype of investhgnt h]ch the srKs Kiuld makE ifthgy Iv¢ absolutcty aTJd bEncfi¢ially entitled. The Investment Poliry is monitored by regulax tnvestsnent reports 2nd 4Tmual meetings with the Investment Manager. The trustees remain satisfied wttlL the perfomwice of their Inv¢5tm¢nt Mattaser and that th¢ tntstees. mandate rernains T0pal¢. A brtakdown of (he invcs¢tll¢tLts held al the yeaT ended 5th April 2022 e8nbe seen on page I l. ReserYe5 Pol It is the trustees, policy to distribute #pprox]mately one years income tti the course of each financial Y¢ and to retain a rr¥¢ only sufficicnt to b¢ abl¢ to rG5pond cxpeditiously and when appTopriatc to Urgent appeals. At the BalHnee Shetst data tho unr4gtrictod ro8orv•g amounted to £17.553.810. PI2ns for ltte Fvture Th¢ trustees intend th&t the prKn¢ipal obj*tives should b¢ pur5u¢d in peOty.
The EverArd Foundation Annual Re ort for the VeAr Ended 5th A ril 2022 Statement of Trustees, Responsibilities The tnleeS are responsible for preparino the trwsiees, report 2nd the finan¢ial siatements in accordance wilh applicabl¢ law aTid regulations. The law applicable to charirie5 in England and Wales r¢quirÉs iht mist5 to pr¢par¢ finanrial StateMts for Cach financi&l year in accord4Je¢ with United KIDgdom G¢n¢rally Aceepted Ae¢ountittg Practice (United Kingdom Ac¢ountinE Standards and applicablc regulations). Under that law th¢ trustees must not appove the financial statements unless they are satisfied that they give a true 2nd fair view of the state of affairs of the ¢harity and of the incoming resources and application of resources of the charity for thai period. In preparing these financial 51atcm¢nts. th¢ trustees are required to.. sclcct 5UiEable accounting poli¢i¢s and ihcn apply Ih¢m GonsiSt¢ntly" observe the meihod5 and principle5 in the Charities SORP IFRS I O?} mak¢ judgements and estimates that ar¢ re¥(>nable and prjdent; state M'hether applicable aeeouniing standards have been folloth'ed, subject to anv rnaterial depaTtUTes disc105ed and explained in the financial staiements" and prepare the financial siatements on ihe uoing concem basis unle55 it 15 inappropriate lo presume ihat rhe tharity will continue iD business_ The trustees are Tesponsibl¢ for keeping Adequate accounting re¢ords which are sufficient io show and explain Ihe charity's transa¢tion5 and disc105C With ieasonable ac¢ura¢)' ar anj titne th¢ fillancial position olthe ¢harity and enable them to ensure that the fingneial ststements comply with the Charities Act ?01 l. th¢ Charities (Accounts and Reports} Regulations ?008 and the provisions of the trusi deed. They are also responsible for safeguarding the assets of the charity and henee for iaking reasonable steps for th¢ pr¢vention and d d 3Dd other iTregularities. RASEV onbe of the trustees ..2023
Page 5 The Eve rd Foundation Statement of Finanei81 Activities For the Year ended 5th A ril 2022 Notes 2022 2021 Ineome from: Investments Total 61,852 61,852 78,391 78,391 Expenditsre on: Charitable activities Raising funds Total (85,288) (21,971) (107,259) (76,981) (20,004) (96.985) Net Ineome/{expenditure) (45,407) (18,594) Cainsl{losses) investment as$¢ts Net movement in funds 10 15 134,148 88.741 523,549 504,955 Rewnciliaton of funds: Fund balanc¢s brought forward l7,465,069 16,960,114 Fund balances carried forward £17,553,810 £17,465,069
Page 6 The Everard Foundation Balance Sheet as at 5th A ril 2022 Notes 2022 20?1 Fixed Assets Investments at CULTent value 17,231,240 17.231.240 17.2J3,060 17.2i3,060 Current Assets Debtors Chromebooks Cash at bank and on deposil 2 Silver Foxes 200.000 200,091 480 37,355 370 2)8 ?96 12 13 lJl.5?? 370 33l,892 Creditors: Amounts due within one year Accruals 14 {9,J2?) (9,J22) (6,287) (6.287) Net cuent assets Total Net Assets 3?2,570 232,009 £17,55J,810 £17,465,069 The Funds of the Charity Unrestricted funds Total Charity Funds 17,553,810 17,465,069 £17,553,810 £17,465,069 Approved by the rustees on 2023 and signed on their behalf by: Trustee
Pag¢ 7 Tbe Everard tlon All¢ig1 Ststements for the Year Ended Stb A rfjl 2022 l A¢¢tsuDting Politles A) Bsis of fiDan¢i statsments preparti(m The financial seMe[tE. uf the charity, which 15 apublic trnefit entity. have been prepared in accordance with th¢ Chartties SOPP (FRS 102)'Accountins and Reportins by Chariiies: Stat¢m¢M of R¢wmmend¢d Practice appIlbI¢ to GItIeS prepJTing their accounts in aGwrdpnce with the Financia] R9rtIng StaY2dard applible in th¢ UK and Repjjblic of Ireland (FRS 102) (effertiv¢ l January 2015).. the Financial Reporting Standard applicable &n tbe United Kkngdom and R¢public of IrelaThd atld the Charities Act 2011. Th¢ finaJKial statements have been PPared under the historical Cfm l%)nv¢nuo Th¢ finan¢ial slat¢ments hav¢ been prep1 to give a kn and faif view and have departed from th¢ Charities (A¢¢ounts and Reports) Regulations 2008 only to the extent required to give a'true and fairf view. This d¢partur¢ ha5 IvOlV following AUting and R¢porting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in th¢ UK aT R¢public of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by ChaTities: Ststement of Recommended Practice effective from 1st April 2005 which ha5 sinGe been removed. b) N¥Nr¢ of Funds All fimds held aye uJtre8trieted And the fnLee$ are free th uge them in accordaftce with the clwitable objects. c) FIA¢d AsS¢t IV¢tents Invethents gre stated 8t mHrket value atthe bance gheet date. Overs&qs investments are translated iRto sterling the rntes rulin8 at the year end. The Statement of Fingncial Activities (SOFA) includes the net gains and losse8 on revaluation and disposals throughout th¢ y¢ar. d) Investment Income Investment income ig accounted for when receiwdble and is statj gross of any rec19imknle taxatiott relief. ¢) Raxsing Fund$ Expendittwe is accountsd foron an aecrual ba81& and h8s classifieAI under headings that a88gate ail costs related to that ¢at¢gory and are shown in tht notes to the financial statements. fj Charltsble Gr4nts Grants payabl¢ aTe recognised in th¢ SOFA when they ar¢ approved by the tntstees and the recipient betrt informed of the amount to be pai Foreign Currtntks Transa¢Éions d¢nominated in a for¢] ¢utr¢ncy are translat¢d into slerling at the rate of exch8nge rnlillg at the dats of the transaction. At the balance sheet date monetary agsets and liabilitie5 denominated in a foreign Curreft translated at the rate ruling at that dat¢. All exchange differenczs are dealt with in the SOF 2 Remuner#tlon of Tn Jn th¢ finattoip&l yfjar to 5th A1 2022 th6 ttubto& did not r¢¢otve qtLy (2020121.. £Nil) but did 1ve reimbwsement for expenses incutr)J in the yeaT.
Page 8 The EveTrd Foundatlon Flotes to th¢ Finn¢ial Stats 1712 ¢ YeAr 2022 3 Investment lllcome UK Dividends- quoted UK Dividends - unquoted Unit Tnasl Incom¢ Fixed interest stock Propety Income Overseas income Overseas withholding tsx ropayment HMRC penalty refund Dividend differen¢¢ BAnk Inter¢st 2021 20,850 21,410 7,086 1,203 2,310 29.896 368 loo 37 7,252 1,970 3,428 44,229 67 £78,356 £61,852 4 Ch2ritsble A¢tsvities Support (see not¢ 5) (see llote 6) Totsl Charirabl¢ expenditure £76,850 8.438 85,288 5 Dlrecl Costs The Charity undertook no dir¢¢t ch¥itabl¢ acllvities bul awarded grdnts to a number of institutions in furtheTance of its charitsble objectives. These aTe &$ follows: 2022 2021 1st Queens Dr4oon (iuard$ R¢gim¢ntsI Tst ABF The Soldier's Charity Age UK Lei¢¢st¢r & Rutland Anstey Nomads Blaby & Whetstone Youth Club Boost Brainstrllst British H¢art Foundation Charli¢ Waller Trust 2.000 1.000 50.500 450 700 1,000 5,000 5,000 5.000 250 8,400 62,500
Page 9 Th Everard Fou e FIDan¢ial Ststements for thA ri12022 Notes t e Year 2022 2021 S Dlrect Costs ton Balance blf Leicester Ho4)itaJ5 Charity Marie Curie Prostaid Rotary Club of L¢i¢¢ster Trnst Fund Scout Asso¢ialion Sembl¢ FoundatÈon Stsps St John Chur¢h Tennis Leicester Charitsble Trust UK Veterans Hearing Foundation Warning Zone (L¢i¢ester & Rutland Critncbeat) Young Entense Young Leicestershire Ltd 8,400 25,000 62,500 250 440 1,200 500 1,000 20.000 2,000 4,450 13,500 5.000 750 1.000 50 £ 76.850 £ 69.190 Analysis of 8r4Dts made Grants to Grnnts to Institutio IndRviduals Total Advancem¢nt of: duoation r¢ligion health or the s&ving of lÈves Citizenship or Community development the arts, culture, heritage or sciene¢ environmentsl protection or improvement the relief of thos¢ in ri¢¢d animal welfare promotion of etTIGiency of the armed forces y other eharitsbl¢ purposes 4,900 4.450 31,200 14250 4,9QO 4,450 31,200 14.250 21.050 21,050 1.000 1.000 £76.850 £0 £76,850
Page 10 The Ever4ni FDundxti ancial Ststemell r the Year End SthA ril 2022 otes to the 2022 2021 6 SllPPQrt Costs Independent Exathination f¢¢ Bank charges Withholdin£ Auditols fees DeprlatIOn LEI Registration fee Lega] and ProfessioJ)a] fees 243 368 2S 96 480 144 7,470 £8,438 72 7.326 £7.791 7 Expenditure on Raising Fullds 2022 2021 Investment management fees £21,971 £20.004 8 Employees There e no employees so ¢onsequendy no staff costs have been in¢uTr¢d.
undg I StatemÈiits for Pagèll th Y rEnded 02 9 IRvestm¢llts held At5th April 2022 20,302 438 IlJ,020 3,31JO 625 13,180 3.670 13Q 505 7,939 38,656 AUnUM Finteeh PLC Ip Ord Astrathi¢ca plc Ord USSO.25 Aviva pl¢ 25p Ord ?6.646.38 45262.92 44.088.(41 55242.00 59.063.#6 50,466.22 27.047.90 26.9Q4.80 53,322.95 30.168.20 42,424.96 46.190.00 49.613.04 1,328.04 93,693.C15 14,550.000.00 29.865.70 44,622.05 52.439.2tp 55,972.80 27,783.45 48,503.32 86.315.97 33,510.24 65325.80 113.594.94 3830%.115 55.165,31 30,885.80 47.519_28 59.299.20 84,164.50 75,900.00 55,666.4Y 56,020.58 16.625.25 01.I26.01 64,111.25 45,849.30 48,009.50 26,215.20 40.392.00 35,473.88 99,157.89 46.843.80 57.658.00 43,6g6.91 84,588.88 47,642.70 24.990.00 01,089.63 41.890.50 25.639.63 98,024.43 £J 7231,240 Bla¢krock Small¢rCorfij)i¢S Trust ?5p Ord Bl¥kstort Oroup LP Cotnmon UniLS BP plc ord USSQ.25 Burford Capital Ltd FJPV CG Portfolio Fund Rc Returo A. £ CG Portfolio Fund plc Dollar Hedged £ Dis Con(tuit HoldEngs Ltsl Cotnmon Shtres USSO.01 Corditht Diwtsl Infrastruth Ltd Ord NPV Shar CRH Ord Euro 0.32 Croda ITrternation8110.609756p O DP AirL7afi l Ltd Old Prev NPV Edgewond L Sslect US Select Growth I Z US$ Everard$ Bresvery Ltd £1 ord EXpan pl¢ Ord US$O.10 F8ir Oaks Income blmd Ltd. Ord NPV (201T) Findltty Park Funds plc American £ Hedged Disi Fidelity Inv Servi¢¢s IUKI Ltd FiO¢lityA8i& W Aw£ Fidelity Inv Servic¢5 Chtna SpeciaI Situations Ip Ord Hern)es IDV MaD88emettt Global Ety)erging marke J2 In¢£ 14BL I1.40Yo FfSEsTx Def Autocajl 2414Q020 Infornia plc O_OOlp Ord jPmor Asset M8nagernent UK Ltd Japan C Ac¢ Jupiter U.T. Man¢rS Europ¢an Z In Jupiw u.T, ManaEers Jap¥m Incomez £ Dis tAzard Global lttvestment Funds plcRarhttre Mi¢ro¥oft Corporatiots Common USSQ.00000625 h4onlanam ASS Mana£emertt Montsnaro UK Ineorne & S¢¢d Murray Internatiottal Tntst •5p Ord National Grld pl¢ k2.431289p Ord NB Private F,quity PaTtners Lid Clw A Ord Shares N¢uirger Berman Inv. Punds pl¢ Uncorr¢lated Str&egies P £ Acc Novatti5 Afj CHF 0.5Q (R¢gd) Ocado Group plc 2p Ord POIM Funds pl¢ US Corptsrnte B(pnd I £ Dis Hedged Pershing Square Hold]"ngs Ltd NPV Phwnfx Group Holdtngs Euro 0.0001 Real Estat¢ CTedit Inv Ltd Ord NPV ReckittB¢nGkser Group plc lQp o Tinto plc lop Ord RWE AG NPV s0d¢[ Inve50n¢nt Wement Lux SA A¥ian Totsl Return C Inc SDCL Effieiency Income Trust Ip Ord SecuT¢ Inrne RF.11-plc lop Ord Squoia Efjonomi¢ Infra lTrc Fund NPV Styline Umbre112 Fund E8ul¢ Cap US E4Juity Vue PundR £ Smiths Ciroup plc 37.5p Ord Syncon& Ltd Ord NPV Third Point Offshore Ltd NPV US$ Tntax Euruknx plc Ord Euto 0.01 Unilever plc 3.11 I Ip Ord Xtrackcrs Efc plc {IE) Physi4Y] Gold ETC£ 618 79,000 305 303,947 i.oio 93,435 590 3,380 10,645 31240 66,300 35,859 202(X) 3.748 3),500 435 130 21,290 4.640 6,95CI 4,600 5.015 830 1,350 645 2,155 7.350 31,900 440 660 1,050 227 38.650 12.700 42,663 026 3.430 15.000 3,100 39,150 725 4,133
nd*iio Page 12 oteB to t ear 9a goin{lOSses) on investrwits 2022 2021 Revaluation of investments GaiJV{10s5) otl 58leof investments 94J46 39,802 £134.148 45OJ74 72,595 £521969 10 Flxed Asset IBV¢5tments 2tr22 2021 Cost or Vdluation at 5th April 2021 Additions Dispos5 Valuation ¢h8ngLs at 5(b Api?J 2022 17.025,525 469.214 (397,647) 134.148 £17J31240 16.524,917 752J67 1774.728) 522,969 £17,025,525 Forthe purposes of the 2022 acrounts, the tw$tee3 obtsined an indepthdent profwional vUatIOn èfthe fair value of the unlisted inve$tm¢nts at 5thApril 2Q19. and h&'e awcd to use this mgrk valuation as at 5th Aprii 2022. The bookvalu¢ofthe quotrd ittvt5tsllents 5th April 2022 15 L,IL? IrJ. Net 82itys/{losstsl on inv¢8tsncnts includes reelis¢d gatns forthe year of £39,36412021: Gain £72.595) and urwe41ise4J gdin on YevatiOn to market value of £94.34612021: Oain £450,954X J l Dtbtor5 AJ4ounts fauing d. Loans to.. Ag¢ UK L&icastrrshir¢ & Ruitalld (repayable in 3 yeAr5) Warning Zone EqualirIor payrnents OUtstsnd5n8 Dividend outstanding 2022 2021 100.000 loo,00( ioo,ooo loo.000 91 £200.000 £2QO,091 12 Cash at 2022 2021 Natw&8t Bank pl Evelyn PatThS Cur¥ey & Co LLP Client Account 13.573 110,871 7,078 £131.522 13.575 13,009 7.35S 13 thrreDtAs&ets 2022 2021 2 Sterlink Silver foxes £370 £370
Pag¢ 13 The EverArd Foundation Notes to the Flnanclol Statements for the Year Ended Sth A ril 2022 14 Creditors: Amounts faillng due wlthin one yvAr 2022 2021 Cu]Tey & Co LLP fc¢s Tnvestm¢nt Mwagemeni fee Independent Examin&ion lee 3.570 5.362 390 £9,322 5,199 1,088 £6287 15 Movement In Funds 2022 2021 Unrestricted Funds.. Bance brought torward Net rnovement in funds Balan¢¢ ¢gtti¢d fotward 17,465,069 88,741 £17,533.810 16,960,694 5(J4.375 £17,465,069 Net Moent in fi]Dits in¢luded in the above are as follow5- CaiDS alld Movement i (losstsl funds Incom¢ Outgoings Unrestricted funds 61,852 {107,2591 134.148 88,741 16 Related Party Tr2n52Ctioths Includ¢d iii d¢btors twu WllC¥S5ionary inier¢5t free 10gm5 of £IW,000. Th¢ loart to Agc UK Leicestershire is repayable in January 2023, 8nd the Loan to Warning 7,onc is repayable in annual in%tsllmenis of not less than £20,000 on i)r before 1st June in the years 2020, 2021, 2022, 2023 and 2024 or on ally eaTIE¢r d&e. Waming /on¢ 15 a charitablc Compimy limid by guarani¢¢ of whiGh Mr Richard A S Evcrard OBE is the pr¢5idcnt. The trustces sub8equcntly agreed thai Waming 7Dne could receive a repaymeni holiday? on the basLS that the rcp#yM1S could be ma(1¢ when the funds became available.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EVERARD FOUNDATION FOR THE YEAR ENDED SAPRIL 2022 I report to the ¢haTity trustees on rny examination of the accounts of the Gh4rity for the year ended 5 April 2022 which are set out on pages 5 to 13. Resptyisibilitles and b8SI8 of rèport As the charity's tru5tee5 you aTe responsible for the preparation of the accounts in aGcordanGe with the reouir6m&nts ol the Charili8s Acl 2011 1.the Acti. I report in SpeCt of my exarnination of the eharily's accounts carried c>ul under section 145 of the Act and in caTrying out my eMnation I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the A¢t. Independeni Examin¢f$ siatement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any rnAieri81 respect.. aGGounting records were not kÈpi ift respect of the charity as required by section 130 of the Act.. or the acCntS do not accord wth those re¢ord8,' or the aGGount5 do Gotnply with the applicable requirements conc¢ming th¢ fom and conlenl of 8Gcounis sei out in the Charltles (Accounts and Reports) Regul2iions 2008 other than any requirernent that the accounts give a 'trué and fair Vie which is not a matter consid•red as part ol an independent xamin31ion. I have no concem3 and have come across no other matter5 in ctsnnection with the examinatÈon to which altention should be drawn in thi5 report in order to enable a proper understanding ol the a¢¢ounts to be re8ched. Ailsa Farey CA CTA 41h Floor 7 Svrallow Stre&t London W1B4DE DATED Ihis 181h day of April 2C123.