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|||Page|
|---|---|---|
|Trustees'
Annual Report||1-3|
|Report ofthe Independent|Auditors|4-6|
|Statement ofFinancial Activities|||
|Balance Sheet|||
|Cash Flow Statement|||
|Notes to the Financial Statements||10-15|
##
|Founder||Charles Henry Alan Skey (died 7th July 2012)|Charles Henry Alan Skey (died 7th July 2012)|Charles Henry Alan Skey (died 7th July 2012)||||
|---|---|---|---|---|---|---|---|
|Dates ofDeeds||Trust Deed - 4th April|1979|||||
|||Deed ofAppointment|- 10th March 1987|||||
|||Deed ofAppointment|-6th May 1997|||||
|||Deed ofAppointment|-8th November 2000|||||
|||Deed ofAppointment|-7th November 2006|||||
|||Deed ofAppointment|-30th October 2010|||||
|Trustees||Christopher
Bryan Berkeley||||||
|||John Maityn Leggett||||||
|||Reverend James Henry|Aufrere Leggett|||||
|||David Bryan Berl&eley||||||
|||Edhvard James Berkeley||||||
|||The power to remove and to appoint anew or additional|||Trustees is vested||in the Trustees.|
|||The objects ofthe Trust is to support or promote such charitable||||purposes|as the Trustees|
|||may in their absolute discretion||deteimine.||||
|Natum ofTmst||A registered
charity, registered||with the Charity Commissioners||for England
and Wales as||
|||number 277697.||||||
|Registered|Office|Messrs. Hoare Trustees||||||
|||37Fleet Street||||||
|||London||||||
|||EC4P 4DQ||||||
|Independent|Auditor|Moore Kingston Smith|LLP|||||
|||9Appold Street||||||
|||London, BC2A 2AP||||||
|Investment|Managers|Investec Wealth &.Investment||Ltd||||
|||30Gresham Street||||||
|||London, BC2V7QN||||||
|Bankers||C.Hoare &Co.||||||
|||37Fleet Street||||||
|||London, BC4P 4DQ||||||
|Administrators||Messrs. Hoare Trustees||||||
|||37Fleet Street||||||
|||London, BC4P4DQ||||||
|Solicitors||Russell-Cooke LLP||||||
|||2Putney Hill||||||
|||London, SW156AB||||||
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|||||Unrestricted|Unrestricted|I&'unde||Unrestricted|Unrestricted|Funds||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Expendable||Total||Expendable||Total|
|||||Incoure|Endotvment||I&'ands|Income|Endowment||Funds|
||||Notes||||2023||||2022|
|Income and Expenditure|||||||8|||6|6|
|INCOME||||||||||||
|Investment
income|||2|512,543|||512,543|429,434|||429,434|
|TOTAL INCOME||||512,543|||512,543|429,434|||429,434|
|EXPENDITURE||||||||||||
|Costs ofraising funds||||||||||||
|Investment
Management|Costs|||||69&671|69&671|||75,346|75,346|
|Charitable
activities|||3|826&579|||826,579|999,817|||999,817|
|TOTAL EXPENDITURE||||826,579||69,671|896,250|999,817||75,346|1,075,163|
|NE&.TOPERATING (E&XPENDITURE)||||(314,036)||(69&671)|(383,707)|(570,383)||(75,346)|(645,729)|
|OTHER RECOGNISED (LOSSES)/GAINS||||||||||||
|Realised (Losses) on investment||disposals|6|||(191&425)|(191&425)|||(40,257)|(40,257)|
|(Losses)/Gains
on revaluation|of|investments|6|||(1,110,688)|(1,110,688)|||535,879|535&879|
|NET (EXPENDITURE)/INCOME||||(314,036)||(1,371&784)|(1&685,820)|(570,383)||420,276|(150,107)|
|Gross transfer between Funds|||7|314,036||(314,036)|-|570,383||(570,383)||
|NET MOVEME&NT IN FUNDS||||||(1,685,820)|(1&685,820)|||(150,107)|(150,107)|
|RECONCILIATION
OFFUNDS||||||||||||
|Total funds brought
forward||||||16&704,659|16&704,659||16,854,766||16,854,766|
|BALANCES CARRIED FORWARD||||||15&018,839|15,018&839||16&704&659||16&704&659|
##
||Notes|2023|2022|
|---|---|---|---|
|||5||
|FIXEDASSETS||||
|Investments|6|14&138,681|15,455,548|
|CURRENT ASSETS||||
|Cash atBank||359&675|406,230|
|Fixed tenn deposit||500&000|800,000|
|Debtors||50,954|71,671|
|||910,629|1,277,901|
|CURRENT LIABILITIES||||
|Cmditors - falling due within one year||(30,471)|(28,790)|
|NET CURRENT ASSETS||880,158|1,249,111|
|NET ASSETS||15,018,839|16,704,659|
|UNRESTRICTED I&'UNDS||||
|Expendable
Endowment||15,018,839|16,704,659|
|Income Fund||||
|TOTAL UNRESTRICTED FUNDS||15&018,839|16,704,659|
##
|||||2023|2022|
|---|---|---|---|---|---|
||||Notes|8|8|
|Cash flows from operating activities||||||
|Net cash (used in) operatiug
activities|||10|(873,852)|(1,090,661)|
|Cash flows from investing
activities||||||
|Dividends
and hiterest from investments||||512,543|429,434|
|Proceeds fiom sale offixed asset investments||||776,234|1,446,775|
|Purchase offixed asset investments||||(472,085)|(911,333)|
|Net cash provided
by investing
activities||||816,692|964,876|
|Change iu cash aud cash equivalents|iu the reporting|period||(57,160)|(125,785)|
|Cash and cash equivalents
at the beginning ofthe reporting period||||422,280|548,065|
|Cash and cash equivalents
at the end|ofthe reportiug|period||365)120|422,280|
|Cash th cash equivalents
comprise:||||||
|Cash atBank||||359,675|406,230|
|Cash held in investment
portfolio||||5,445|16,050|
|||||365,120|422)280|
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|2|INVESTMENT INCOME||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||g|5|
||Investment
income||||508&833|428,597|
||Interest on cash deposits||||3,710|837|
||||||5121543|429,434|
|3|CHARITABLE ACTIVITIES||||||
||The charity undertook
no direct charitable activities but awarded donations||||to anumber ofinstitutions|in|
||fm themnce ofits charitable|activities.|||||
||||||2023|2022|
||||||g||
||Grants made||||800)000|975,500|
||Support costs||||||
||Governance
costs (see note||4)||26&579|24,317|
||||||825,579|999,817|
||The grants made comprised|the following:|||||
||Advancenrent
ofeducation||||4,11&II|40,000|
||Brasenose College, Oxford||||15&000|15,000|
||Monkton Combe School||||301000||
||Sherborne School Foundation|||||25,000|
||Advancement
ofreligion||||2801000|88,000|
||Becontree Chu)ch||||250,000||
||London City Mission||||20,000|70,000|
||St. Andrew's
Church, Kendray|||||10,000|
||St.James' Chutre, Ryde||||10,000|8,000|
||Advancement
ofhealth or|the saving oflives|||30,000|25,000|
||Dementia IJK||||101000|10,000|
||French Hospital||||10)000|10&000|
||World Sight Foundation||||101000|5,000|
||Advauccment
ofcitizenship||or community|development|70&000|245,5IIO|
||Centre for Bnterprise Markets and Ethics||||101000|35,000|
||Envision||||10&000|10,000|
||The Branch, Chipping Norton||||50,000|200&000|
##
|3|CHARITABLE ACTIVITIES Cont'd|CHARITABLE ACTIVITIES Cont'd||2023|2022|
|---|---|---|---|---|---|
|||||5||
||Advilncement
ofnl'ts, culture, heritage||orscience|),ยป|395,000|
||Almeida Theatre|||12&500|60,000|
||British Film Institute|||10,000|60,000|
||English Stage Company Ltd||||20,000|
||Greenwich
Poundation
for the|Old Royal Navnl College||35,000||
||Help Musicians UK||||25,000|
||Institute ofImagination|||30&000|20,000|
||Polka Theatre|||10,000|210,000|
||Royal Museums
Greemvich|||40)000||
||Advancenient
ofmnateur
sport|||50&000|95,000|
||MCC Foundation|||30,000|65,000|
||On Course Foundation|||20,000|30,000|
||Relief ofthose In need by reason|ofyouth, age, ill-healtli,||||
||disability, financial hardship|or other disadvantage|||22,500|
||Hebrldean
Pursuits
Outdoor Learning||(Roses Charitable Trust)|22,500|22,500|
||SiMBA|||25,000||
||Stephen House Memorial Fund|||100,000||
||Promotion oftire efficiency ofthe nrmed forces ofthe Crown,|||||
||orofthe efficiency ofthe police, fire||and rescue service or|||
||anibulance
se)vices|||40,000|65,000|
||Fusiliers London Fund||||50,000|
||Imperial War Museum||||15,000|
||Tho Pusiliers Fund|||20)000||
||The Welsh Guard|||20)000||
|4|ANALYSIS OP GOVERNANCE|COSTS||||
|||||2023|2022|
|||||8||
||Trustees' expenses|||I&223|588|
||Auditor's
remuneratlono|||||
||Audit fee for the year|||5,900|5,550|
||Prior year under provision|||210|150|
||Messrs. Hoare Trustees:-|||||
||Administration
fee for the year|||18,000|16,250|
||Prior year under/(over)|provision||1,246|801|
||Investec Wealth &Investment - Legal Entity Identifie fee||||78|
||Russell Cooke LLP legal fees||||900|
|||||26,579|24,317|
||Investment
Management
Costs|||||
||Investec Wealth &Investment - Legal Entity IdentiTier fee|||78||
||Investec Management
fees|||69,593|75,346|
|||||69&671|75,346|
##
##
|6|AXED ASSETINVESTMENTS|AXED ASSETINVESTMENTS|||
|---|---|---|---|---|
||Movement
in fixed nsset investments||||
||||2023|2022|
||Listed investments||||
||Mmket Vnlue Brought Forward||15,439,498|15,979,318|
||Additions
atcost||772,085|911,333|
||Less Disposal proceeds||(77G,234)|(1,946,7'/5)|
||Realised Gain/(Loss)
on dispossls
Gahis/(Losses)
on revaluation||(191,425)
~l,e,e i|(40,257)
535,879|
||Marl&et Value Cnrricd Fomvnrd||14,133)236|15,439,498|
||Cash held by brokers||5,445|16,050|
||Total Investnicnts
nt 5th April 2023||14,138&681|15,455,548|
||Historical costofInvestments|as at 5th April 2023||9,7|
||Geographical
Analysis||||
||United Kingdom
investments||5,968,645|5,738,825|
||Overseas investments||8,158,487|9,700,673|
||||14,127,132|15,439,498|
##
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|CREDITORS|||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||g||
|Investec Wealth &Investment|Management|||fees|6,571|6,990|
|Moore Kingston Smith - Auditor's||Remuneration|||5)900|5,550|
|Messrs. Hoare Trustees Administration|||fees||18,000|16,250|
||||||30)471|28,790|
|RE)CONCILIATION
OFOPERATING DEFICITTO NET CASH|||||||
|OUTI'LOW I'ROM OPERATING|||ACTIVITIES||2023|2022|
||||||8|5|
|Net operating
expenditure|||||(383,707)|(645,729)|
|Investment
Income|||||(512)543)|(429,434)|
|Decrease/(Increase)
in Debtors|||||20)717|(16,211)|
|(Decrease)/Increase
in Creditors|||||1,681|713|
|Net cash outflow fiom operating|activities||||(873,852)|(1,090,661)|
##
P880 15