## |||Page| |---|---|---| |Legal and admmistrative
information||| |Trustees'
report||2-3| |Statement
oftrustees'|responsibilities|| |Independent
auditor's|report|5i7| |Statement offinancial|activities|| |Statement offinancial|position|| |Notes to the financial|statements|10-15| ## ## ## |The trustees
present their annual
report and finanmal
statements
for the year ended 5April 2023.| |---| |The financial
statements
have been prepared
in accordance
with the accounting
poliaes set out in note
1 to the financial
statements
and comply with the charity's governing
document,
the Charities Act 2011 and "Accounting
and Reporting
by Charities: Statement of
Recommended
Practice applicable to charities
preparing
their accounts
in accordance
with the Financial
Reporting
Standard
applicable
in the UK and Repubhc of Ireland
published
in October 2019".| |The legal and administrative
information
page farms part ofthis report.| |Objectives and activities| |The Trust Deed permits
the trustees
to apply the Trust to such charities
and for such charitable
purposes
and
in such proportions
and
in such manner
and subject ta such terms and conditions as they may determine.| |The Trust aims to provide
finanmal
contributions
to organisations
(whether
voluntary
or otherwise)
whose purposes
are deemed
by the
trustees
to be of benefit to those less fortunate
in society or to society in general,
with particular
emphasis
on the North of England.| |Under the Trust
Deed the trustees
have
absolute
discretion
as to the investment
of the charity's
funds.
The Endowment
Fund
is
represented
by the unlisted
company shares and therefore
not available
for reinvestment.
Free reserve funds are generally
placed on
interest
bearing deposits.| |The pohcy ofthe trustees
is ta donate
only to local charities or charities ofwhich the trustees
have close personal
knowledge,
interest
or assamation
and particularly
those
involving
young people. Donations
are not made to individuals
(unless they are part ofa group or
organisation
with charitable status) or local authorities.| |All applications
to the Trust are considered
and responded
to by the trustees
who provide
help and assistance
on a purely
voluntary
basis. The trustees
review their policy on donations
from time to time.| |The trustees have paid due regard to guidance
issued
by the Charity Commission
in deciding
what activities the charity should
undertake.| |Achievements
and performance| |The Trust invests
its funds cautiously
taking
advice as considered
appropriate.
The Trust does not undertake
any activities
to raise
funds.| |The Trust made 15(2022 3)donations
to 14charities
totalling f454,500 (2022:f125,000)to a wide range oforganisations
and these
are setout
in detail
in note 5to the accounts.| |Financialreview| |Reserves policy| |The trustees
consider that the charity requires
an adequate
level of reserves
in order to protect
its long term
ability to maintain
the
level af regular
charitable
giving,
having
regard
to the charity's
main sources of income. The trustees'
future
policy
is to seek to fully
distribute
its net income after retaining
sufficient to maintain
the real value ofthe Trust's accumulated
reserves| |At 5April 2023 free reserves weref787,473(2022:f810,875)| |Risk management| |The trustees
have assessed the maior risks to which the charity is exposed, and are satisfied that systems
are in place to mitigate
exposure
to the malar risks.| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |JW|ers LLP|ers LLP| |---|---|---| |Chartered||Accountants| |Statutory||Auditor| |Genesis 5| |---| |Church
Lane| |Heslington| |York| |Y0105DQ| ## ## ## |||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| |||||2023|2023|2023|2022|2022|2022| ||||Notes|6|f.|6||6|6| |Income|||||||||| |Investments||||452,256||452,256|402,297||402,297| |Expenditure|||||||||| |Charitable
activities|||4|468,674||468,674|129,538||129,538| |Net income for the year||||(16,418)||(16,418)|272,759||272,759| |Other recognised||gains|and losses||||||| |Other gains or|losses||9|(6,894)|2,386,540|2,379,646|44,308||44,308| |Net movement|in funds|||(23,312)|2,386,540|2,363,228|317,067||317,067| |Fund balances|at 6April 2022|||810,785|18,691,660|19,502,445|493,718|18,691,660|19,185,378| |Fund balances|at|5 April|2023|787,473|21,078,200|21,865,673|810,785|18,691,660|19,502,445| ## ## ## |||||2023||2022|| |---|---|---|---|---|---|---|---| ||||Notes|f.||6|| |Fixed assets|||||||| |Investments|||10||21,502,552||19,122,906| |Current assets|||||||| |Cash at bank and|in|hand||476,081||453,239|| |Creditors: amounts||falling due within one year|11|(75,960)||(38,700)|| |Net current assets|||||400,121||414,539| |Total assets less|current liabilities||||21,902,673||19,537,445| |Creditors: amounts||falling due after more than|||||| |one year|||12||(37,000)||(35,000)| |Net assets|||||21,865,673||19,502,445| |Income funds|||||||| |Endowment
funds|||||21,078,200||18,691,660| |Unrestricted
funds|||||787,473||510,785| ||||||21,865,673||19,502,445| ## ## ||Charity information|| |---|---|---| ||The Patncia 8, Donald Shepherd
Charitable
Trust is an unincorporated
chanty registered
in England
and Wales.|| |1.1|Accounting
convention|| ||The financial
statements
have been prepared
in accordance
with the charity's
trust deed,
the Charities Act 2011, FRS I02|"The| ||Financial
Reporting
Standard
apphcable
in the UK and Republic of Ireland" ("FRS102")and the Charities SORP "Accounting|and| ||Reporting
by Charities.
Statement
of Recommended
Practice applicable
to charities
preparing
their accounts
in accordance|with| ||the Financial
Reporting
Standard
applicable
in the UK and Reputilic
of Ireland (FRS 102)"(effective
I January 2010).The charity
is a Public Benefit Entity as defined
by FRS 102.|| ||The charity has taken advantage
ofthe provisions
in the SORP for chanties
not to prepare a Statement ofCash Flows|| ||The financial statements
have departed
from the Chanties
(Accounts and Reports) Regulations
2008 only to the extent required
to|| ||provide a true and fair view. This departure
has involved
following
the Statement
of Recommended
Practice for charities
applying
FRS 102rather than the version
of the Statement
of Recommended
Practice which
is referred to in the Regulations
but which
has
since been withdrawn.|| ||The financial statements
are prepared
in sterhng,
which
is the functional
currency ofthe charity.|| ||The finanaal statements
have been prepared
under the histoncal cost convention
as modified
for the fair value of investments.|The| ||principal
accounting
policies adopted are set out below.|| |1.2|Going concern|| ||At the time of approving
the financial
statements,
the trustees
have
a reasonable
expectation
that the chanty
has
adequate
resources
to continue
in operational
existence
for the foreseeable
future. Thus the trustees
continue
to adopt the going concern
basis ofaccounting
in preparing
the finanaal
statements|| |1.3|Charitable
funds|| ||Unrestricted
funds are available
for use at the discretion
ofthe trustees
in furtherance
oftheir charitable objectives.|| ||Endowment
funds are expendable
funds at the discretion
ofthe trustees
under the terms of the trust deed.|| |1.4|Income|| ||Investment
income
isaccounted
for in the period
in which the charity
is entitled to receipt.|| |1.5|Expenditure|| ||Expenditure
is recognised
once there is a legal or constructive
obligation
ta transfer economic benefit to a third party,
it is probable
that a transfer ofeconomic benefits
will be required
in settlement,
and the amount
ofthe obligation
can be measured
reliably.|| ||Expenditure
is classified
by activity. The costs of each activity are made up ofthe total of direct costs and shared costs, including
support costs involved
in undertaking
each activity. Direct costs attributabie
to a single activity are allocated
directly to that activity.
Shared
costs which
contribute
to more
than
one activity
and support
costs which
are not attnbutable
to a single
activity
are
apportioned
between those activities
on a basis consistent
with the use of resources.
Central
staff costs are allocated
on the basis|| ||of time spent, and depreciation
charges are allocated
on the portion ofthe asset's use.|| ||Expenditure
is included
on an accruals basis|| ||Support costs have been allocated
in full to charitable
activities.|| ||Grants payable are accounted
for as they are payable. The trustees correspond
regularly
to approve these grants.|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Charitable|Charitable| |---|---|---|---| |||Expenditure|Expenditure| |||2023|2022| |Grants
payable (see note 5)||464,500|125,000| |Share ofsupport costs (see note 6)||1,850|1,978| |Share ofgovernance|costs (see note 6)|2,324|2,560| |||468,674|129,538| |Grants payable|||| |||Charitable|Charitable| |||Expenditure|Expenditure| |||2023|2022| |Grants to institutions|||| |Antibiotic Research|UK|50,000|| |Bntish Red Cross (Ukraine Appeal)||20,000|10,000| |Richard Shephard
Music Foundation|||10,000| |SASH||30,000|| |Shepherd
Group Brass Band||36,000|| |SBSA||50,000|| |North Yorkshire Scouts||10,000|| |The Island||75,000|| |York Cemetery
Trust||50,000|| |York Festival Trust||10,000|| |York Food Bank||20,000|| |All Saints Church
Newton||10,000|| |York Theatre Royal|||105,000| |York Against Cancer||100,000|| |Grants and donations|under 83,500|3,500|| |||464,500|125,000| ## ## |FO|R THE yEAR ENDED 5|R THE yEAR ENDED 5|APRIL 2023|||||| |---|---|---|---|---|---|---|---|---| |6|Support costs|||||||| ||||Support costs|Governance|2023|Supportcosts|Governance|2022| |||||costs|||costs|| ||Bank charges||81||81|105||105| ||Accountancy|fees|1,636||1,636|1,740||1,740| ||Fee protection|insurance|133||133|133||133| ||Audit fees|||2,324|2,324||2,560|2,560| ||||1,850|2,324|4,174|1,978|2,560|4,538| ||Analysed between|||||||| ||Chantable
activities||1,850|2,324|4,174|1,978|2,560|4,538| ## ## |Other gai|ns or losses||||||| |---|---|---|---|---|---|---|---| ||||||Unrestricted|Endowment|Unrestricted| ||||||funds|funds|funds| ||||||2023|2023|2022| ||||||6|6|f| |Unrealised|(losses)/gains|on|investment|assets|(6,894)|2,386,540|44,308| ## ## ## |||||||||2023|2022| |---|---|---|---|---|---|---|---|---|---| |||||||||E|E| ||Investments|at|fair value comprise;||||||| ||UK Equity share|||||||424,352|431,246| ||Other unlisted||securities|||||21,078,200|18,691,660| |||||||||21,502,552|19,122,906| |1'I|Creditors: amounts|||falling due within|one|year|||| |||||||||2023|2D22| |||||||||E|f| ||Other creditors|||||||72,000|35,000| ||Accruals|||||||3,960|3,700| |||||||||75,960|38,700| |12|Creditors: amounts|||falling due after more||than one year|||| |||||||||2023|2022| |||||||||E|E| ||Trade creditors|||||||37,000|35,000| |13|Analysis
of net assets between funds||||||||| ||||||||Unrestricted|Endowment|Total| ||||||||funds|funds|| ||||||||2D23|2023|2023| |||||||||E|f| ||Fund balances||at 5|April 2023 are represented||by:|||| ||investments||||||424, 352|21,078,200|21,502,552| ||Current
assets/(liabilities)||||||400,121||400,121| ||Long term liabilities||||||(37,000)||(37,000)| ||||||||787,473|21,078,200|21,865,673| ||||||||Unrestricted|Endowment|Total| ||||||||funds|funds|| ||||||||2022|2022|2022| ||||||||E|E|f| ||Fund balances||at 5 April 2022 are represented|||by:|||| ||Investments||||||431,246|18,691,660|19,122,906| ||Current
assets/(liabilities)||||||414,539||414,539| ||Long term liabilities||||||(35,000)||(35,000)| ||||||||810,785|18,691,660|19,502,445| ##