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|||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||||
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|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|
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||||||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|
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||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|
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