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2022-12-31-accounts

CONTENTS
Pa eNumber
1-6 Trustees' Re ort
7-9 Auditors Re ort
10 Statement ofFinancial Activities
Balance Sheet
Debtors,
Cash
Balances,		 Creditors 4 Deposit
12-13 Interest
Schedule ofInvestments
15-16 Investment
Income
Investment
Transactions
18-20 Accountin
Policies
21-22 Other Notes to the Accounts

Legal &A dministra tive
Information		 tive
Information
Registered Charity Number:
277719
Registered Of6ce :clo Ashfords LLP, 1New Fetter Lane
London EC4A 1AN
Trustee :Tongswood
Estates Limited
Directors ofTongswood
Estates Limited :Rory MacLeay
:Dan Bayley
:Guy Selmon
:Piers Inkin
Stockbrokers :Investec Wealth
2 Gresham Street
London EC2V 7QN
Solicitors :Ashfords LLP 1 New Fetter Lane
London EC4A 1AN
Bankers :NatWest PLC
2~Floor County Gate 2 Staceys Street Maidstone ME14 1ST
Kent TN1 1QJ
Auditors :McCabe Ford Williams
Bank Chambers,
High		 Street, Cranbrook
Kent TN17 3EG
For and on behalf ofthe Trustees
~~~~
Dated. ~ .2023
Rory eay -D' irector on behalf ofTongswood Estates Limited
Dan Ba ley-
'		 o ' ector on behalf ofTongswood Estates Limited
Guy
elmon —Director —Director on behalf ofTongswood		 Estates Limited
l~4
Piers Inkin —Director —Director on behalf ofTongswood Estates Limited

2022 2022 2022 2021 2021 2021
f. f. f,
Unrestricted Endowment Total Unrestricted Endowment Total
Funds Funds Funds Funds Funds Funds
Incoming Resources
Incoming resources from generated funds
~Yolun a
Inc me
Donations
from St Ronans		 Appeal Fund
Dividends
8cInterest		 (page Ig 10,213.24 10,213.24 9,084.72 9,084.72
Rent paid by StRonans School 72,300.00 72,300.00 - 80,633.33 80,633.33
Other income - interest on late rent 3,154.14 3,154.14
Deposit Interest (page II) 10.79 IQ.79
10,224.03 72,300.00 82,524.03 9,084.72 83,787.47 92,872.19
Resources Expended
eneralin nds:
/nvesttnent
ntanagentent
costs
Investec Stockbmkets fees 3,462.50 3,462.50 3,521.64 3,521.64
3,462.50 3,462.50 3,521.64 3,521.64
Distributions
-StRonan's		 School
~ov!n~c~sls
Audit 8caccountancy fees 2,539.00 2,539.00 5,078.00 2,377.50 2,377.50 4,755.00
Companies
House Charges		 13.0Q - 13.00 13.00 - 13.00
Trustees indemnity
insurance		 540.45 540.45 608.92 608.92
Legal &,administrative fees 6,139.21 18,417.64 24,556.85 5,786.54 17,359.61 23,146.15
9,231.66 20,956.64 30,188.30 8,785,96 19,737.11 28,523.07
t/t rr
urc		 nd d
Interest payable 18,023.12 18,023.12 19,919.96 19,919.96
Bank charges 37.55 37.55 80.16 80.16
18,060.67 18,060.67 20,000.12 20,000.12
Total resources expended 9,231.66 42,479.81 51,711.47 8,785.96 43,258.87 52,044.83
Net gains/(losses)
on		 investments
Gains on inv ents:
Realised (page If) 4,339.90 4,339.90 26,639.73 26,639.73
Unrealised
(page Q)		 25,515.88) 25,515.88 10,094.73 10,094.73
Net gains/(losses)
on		 investments (21,175.98) (21,175.98) 36,734.46 36,734.46
Net Income/(Ezpenditure) 992.37 8,644.21 9,636.5S 298.76 77,263.06 77,561.82
Other recognised gains/(losses)
I sacs
inv		 en to
Unrealised
(note 5)
Net movement
in funds		 992.37 8,644.21 9,636.58 298.76 77,263.06 77,561.82
Reconcilhtion
ofFunds
Total Funds brought forward 18,888.67 7„860,671.11 7,879,559,78 18,589.91 7,783,408.05 7,801,997.96
Total funds carried forward 19,881.04 7,869,315.32 7,889,196.36 IS,S88.67 7,860,671.11 7,879,559.78

Balance Sheet as at 31 s tDec embe r 2022
2022 2022 Z022 2021 2021 2021
g f f
Unrestricted Endowment Total Unrestricted Endowment Total
Fund Fund Funds Funds Funds Funds
FIXEDASSETS
d
r -Freak		 4, r r
Tongswood
Estate (note		 5) 7,750,000.00 7,750,000.00 7,750,000.00 7,750,000.00
Assets in the Course of
Construction
(note 5)
Total Tangible Fixed Assets 7,7$0,000.00 7,750,000.00 7,750,000.00 7,750,000.0Q
Investments
at
Market Value (page L!P 292,319.00 292,319.00 338404.00 338,404.00
8,042,319.00 8,042,319.00 8,088,404.00 8,088,404.00
CURRENT ASSETS
~r
Debtors (page II) 10,847.48 54~5.00 65,072.48 20,066.43 54/25.00 74/91.43
Cash at Bank
and in hand (page II) 17,851.01 3,63527 21,48628 5,957.08 6,791.87 12748.9$
28,69&.49 57,860.27 86,558.76 26,023.51 61,016.&7 87,040.38
CREDITORS
Amounts
falling due
within one year (page Ig 8,817.45 165,676.71 174,494.16 7,134.84 160,665.60 I67,800.44
NET CURRENT ASSETS 19,881.04 (107,816.44) (87,935.40) 18,888.67 (99,648.73) (80,760.Q6)
TOTAL ASSETS less
CURRENT LIABILITIES 19,881.04 7,934,$02.56 7,954,383.60 18,&&8.67 7,988,75527 8,007,643.94
CREDITORS
Amounts
hlling due		 in
more than one year (page 1$) (65,18724) (65,187.24) (128,Q84.16) (128,084.16)
NET ASSETS 19,881.04 7,869,31$.32 7,889,196.36 18,888.67 7,860,671.11 7,879,559.78
FUNDS
Unrestricted 19,881.04 19,881.04 18,888.67 I&,&88.67
Endowment
(page+		 7,869,315.32 7,869,315.32 - 7,860,671.11 7,860,671.11
Total 19,881.04 ?,869,315.32 7,&89,196.36 18,888.67 7,860,671.11 7,879,559.78
The Gnancial statements have been prepared in accordance with the Financial Reporting
Standard		 102
and the requirements ofthe Statement ofRecommended
Practice,		 Accounting
and		 Reporting by Charities.

2022 2022 2022 2021
Unrestricted Endowment Total
Fund Fund Fund
DEBTORS
VAT recoverable 490.63 490.63
StRonans School rent due 54,225.00 54,225.00 54,225.00
Prepaid indemnity
insurance		 459.24 459.24 469.24
Transfers between unrestricted
and endowment
funds		 9,897.61 9,897.61 19,597.19
10,847.48 54,225.00 65,072.48 74,291.43
CASH BALANCES
Investec Stockbrokers 3,635.27 3,635.27 6,791.87
Ashfords Client Account
NatWest Bank Business Account 17,851.01 17,851.01 5,957.08
17,851.01 3,635.27 21,486.28 12,748.95
DEPOSIT INTEREST
Investec 10.79 10.79
Ashfords
Natwest Bank (gross)
10.79 10.79
CREDITORS: AMOUNTS FALLING DUK
WITHIN ONE YEAR
Natwest Bank Loans due within one year 140,033.75 140,033.75 129,650.63
Transfers between unrestricted
and endowment
funds		 9,897.61 9,897.61 19,597.19
VAT payable 237.24
McCabe Ford Williams 5,353.50 5,353.50 10,707.00 9,275.00
Ashfords
fees		 3,463.95 10,391.85 13,855.80 9,040.38
8,817.45 165,676.71 174,494.16 167,800.44

Debtors, Cash Balances k Creditors as at91st December 2022
2022 2022 2022 2021
Unrestricted Endowment Total
Fund Fund Fund
CREDITORS: AMOUNTS FALLING DUE
IN MORE THAN ONE YEAR
Natwest Bank Loan - New Sports Hall 205,220.99 205,220.99 257,734.79
Less: Due within one year (140,033.75) (140,033.75) (129,650.63)
65,187.24 65,187.24 128,084.16
The amounts
falling due in more than five years:
Bank loan more than five years
Repayable by instalments
The following secured debts are included within creditors
NatWest Bank Loan - New Sports Hall 205,220.99 205,220.99 257,734.79
205,220.99 205,220.99 257,734.79

Investments held at Investments held at
1.1.22 31.12.22
f f f
Holding Book Value Holding Book Value Market Value
Fixed Interest
FILFidelity Moncybuilder II,l64 I1,037.19 20,000 17,951.93 15,740.00
Invesco Corporate Bond 8,446 16,535.55
Muzinich &Co Global Tactical 100 10,546.00 100 10,546.00 9,155.00
CG Portfolio Fund 70 15,135.10 70 15,135.10 14,021.00
53,-53.84 43 633,03 38,916.00
UK Equities, Investment &Unit Trusts
Murray
Income Trust		 Ord 25p 2,300 10,948.31
Diverse Income Trust Ord Ip 14,500 7,50$.88 14,500 7,505.88 13/39.00
Mercantile
Inv TtOrd		 25p 9,000 3,725.S6 9,000 3,725.86 17,307.00
22,180.05 11/31.74 30,546.00
Overeas Equities
JP Morgaa Fleming Euro Fledgling hc
JP Morgan US Equity hc 18,467 9,442.78 18,467 9,442.78 29,215.00
Schroder Oriental
Ord		 Ip 8,500 10,469.55 8,500 10,469.55 21,803.00
1001133 19,912.33 51,018,00
International
Equities
BNYMellon Newton Higher Inc 12,000 9,812.29 12,000 9,812.29 23,024.00
F&Chv Trust 3/00 17,456.48 3,200 17,456.48 28,896.00
Murray hternational
Trust		 1,550 10,681.63 1,550 10,681.63 20,693.00
Caledonia Iavestmeats Ord 5p 500 7,358.12 500 7,358.12 17,975.00
Polar Capital Fund Global Ins 2$50 IQ,S76.86 2,250 10,876.86 17,585.00
56,185.38 56,185.38 108,173.00
Property
Schroder Real Estate 30,000 20,031.02 30,000 20,031.02 12,615.00
Alternate
Assent
Nextenergy
Solar FRed
Personal Assets Trust		 6,500
45		 7,148.60
19,869.63		 6,500
7,148.60
4$19,869.63		 7/22.00
21,476.00
25,018.23 27,018.23 28,698.00
Hedge Fuads
CG Portfolio M 165 22,520.80 165 22,520,80 22,353,00
Summary
Fixed htcrest 43,633.03 43,633.03 38,916.00
UK Equities, Investmeat &Unit Trusts 11/31.74 11/31.74 30,546,00
Ovcreas Equities 19,912.33 19,912.33 51,018.00
hternatioaal
Equities		 56,185.38 56,18$.38 108,173.00
Property 20,031.02 20,031.02 12,615,00
Alternate
Assets		 27,01823 27,01823 28,698.00
Hedge Funds 22,520.80 22,520.80 22,353.00
200,532.53 200,532.53 292,319.00
Uarcalised
gain		 91,786.47
Unrealised
gaia srisiag		 ia earlier years (117,302.35)
Movement ia uarealised gain/(loss) in 2022 ~25.535.883

WBHARMS %VILLTRUS WBHARMS %VILLTRUS T
Investment Income for the year ended 31stDecember 2022
Interest
Description Holdiag Date Gross Dividend
Overseas Fixed Interest
CdtG Portfolio Fund 165 30/I I/2022 370.65
C8cG Portfolio Fuad 70 30/11/2022 239.75
Muzinich Ec Co 100 10/06/2022 135.27
08/12/2022 119.31
Unit Trust Investment
FILMoneybuilder 11,164 26/0 I/2022 37.58
25/02/2022 32.11
25I03/2022 29.11
26/04/2022 32.30
26/05/2022 31.20
24/06/2022 32.30
26/07/2022 35.14
26/08/2022 32.71
26/09/2022 34,22
26/10/2022 31.63
25/11/2022 32.96
20,000 23/12/2022 46.03
Iavesco Coqerate Bond 8,446 30/06/2022 231.14
31/12/2022 276.73
916.96
Unit Trusts
BNY Mellon Newton hcome 12,000 28/02/2022 112.63
31/05/2022 145.38
31/08/2022 242.61
30/11/2022 129.29
IPMorgan Arn VKEquity income 18,467 31/0I/2022 120.03
29/04/2022 145,89
29/07/2022 140.35
31/IQI2022 162.51
l,l96.69
Investment Trusts 89Equities
Caledonia Investmeat Trust 500 06/01/2022 87.50
04/08/2022 236.50
04/08/2022 875.00
Foreign 4Colonial Inv Tst 3/00 01/02/2022 96.00
10/05/2022 121.60
0I/08/2022 102.40
Ol/ll/2022 102.40
Mercantile hvestment Trust 9,000 01/02/2022 121.50
03/05/2022 256.50
Ol/08/2022 121.50
01/11/2022 121.50
Murray
Income Trust		 2/00 17/03/2Q22 189.75
16/06/2022 1&9.75
15/09/2022 258.75
Personal Assets Trust 45 12/0 I/2022 63.00
13/04/2022 63.00
22/07/2022 126.00
07/10/2022 63.00
3,195.65
Investme nt Inco me for the year ended 31stDecember 202 2
Interest
Description Holding Date Gross Dividend
g
Brought forward 3,195.65
Murray International Trus 1,550 18/02/2022 186.00
18/05/2022 294.50
16/08/2022 186.00
18/11/2022 186.00
Diverse Income 14,500 25/02/2022 130.50
31/05/2022 130.50
31/08/2022 130.50
30/11/2022 174.00
Utilico Emerging Markeh 6,000 27/03/2020
19/06/2020
4,613.65
Overeas Equities
Polar Capital Fund Globa 2,250 31/01/2022 37.80
29/04/2022 45,23
29/07/2022 84.83
28/10/2022 54.90
Scbroder Oriental 8,500 22/02/2022 161.50
13/05/2022 161.50
26/08/2022 170.00
30/11/2022 476.00
Nextenergy Solar F 6,500 31/03/2022 116.35
30/06/2022 116.35
30/09/2022 122.20
31/12/2022 122.20
1,668.86
Property
Schroder Real Estate REI' 30,000 25/03/2022 231.60
30/06/2022 238.50
19/0&/2022 240.90
09/12/2022 240.90
951.90
Income
Overseas Fixed hterest 864.98
Unit Trust Interest 915.16
Unit Trust Dividends 1,198.69
investment Trusts 8'c Equities Dividends 4,613.65
Overeas Equities Dividends 1,668.86
Property Income Dividends 951.90
10,213.24

Dfsposals f.
Date Nominal Description Book Value Proceeds Gain/(Loss)
04/11/2022 2,300 Murray Income Trust Ord 25p 10,948.31 18,147.57 7,199.26
07/11/2022 8,446 Invesco Corporate Bond 16,535.55 13,676.19 (2,859,36)
27,483.86 31,823.76 4,339.90
Acquisitions
Date Nominal Description BookValue Mode
09/11/2022 8,836 FILFidelity Moneybuilder 6,914.74
6,914.74
01/01/2022 Book Value 221,101.64
Less Disposals at cost (as above) 27,483.86
193,617.78
Add Acquisitions at cost (as above) 6,914.74
31/12/2022 Book Value 200,532.52

Freehold Assets in the course
Property ofconstruction Total
Cost or valuation:
At 1January 2022 7,750,000.00 7,750,000.00
Additions
Disposals
At 31December 2022 7,750,000.00 7,750,0Q0.00
Depreciation:
At 1 January 2022
Charge for year
Dispo sais
At 31December 2022
Net book value
At 31December 2022 7,75Q,000.00 7,750,000.00
At 31December 2021 7,750,000.00 7,750,000.00