##
|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|4|
|Report ofthe Independent
Auditors|5|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Notes to the Financial Statements|11|to|19|
|Detailed Statement ofFinancial Activities|20|to|21|
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|FORTHK YEAR|EN|DED 5APRIL 2022||||
|---|---|---|---|---|---|
|||||5.4.22|5.4.21|
|||||Unrestricted|Total|
|||||fund|funds|
||||Notes||f|
|INCOME AND ENDOWMENTS FROM||||||
|Donations
and legacies||||2139100|142,350|
|Investment
income||||286463|272,535|
|Total||||499,463|414,885|
|EXPENDITURE|ON|||||
|Raising funds||||55,998|48,273|
|Charitable
activities||||||
|Donations
paid||||2031528|387,509|
|Other||||13487|14,919|
|Total||||272,913|450,701|
|Net gains/(losses)|on investments|||(24,154)|1,019,357|
|NET INCOME||||202496|983,541|
|RECONCILIATION||OF FUNDS||||
|Total funds brought||forsvard||7,835)086|6,851,545|
|TOTAL FUNDS|CARRIED FORWARD|||8,037,482|7,835,086|
##
|BALANCE SHE
5APRIL 2022|ET||||
|---|---|---|---|---|
||||5.4.22|5.4.21|
||||Unrestricted|Total|
||||fund|funds|
|||Notes||f.|
|FIXEDASSETS|||||
|Tangible assets||10|456|580|
|Investments||11|8,318,514|8,148,782|
||||8,318,970|8,149,362|
|CURRENT ASSETS|||||
|Debtors: amounts|falling due within one year|12|161989|15,471|
|Cash at bank|||239435|337490|
||||256424|352,761|
|CREDITORS|||||
|Amounts
falling due within one year||13|(19,467)|(19,734)|
|NET CURRENT|ASSETS||236,857|333,027|
|TOTAL ASSETSLESSCURRENT|||||
|LIABILITIES|||8,555,827|8,482,389|
|PROVISIONS FORLIABILITIES||14|(518445)|(647,303)|
|NET ASSETS|||8&037i482|7,835,086|
|FUNDS||15|||
|Unrestricted
funds|||gi037,482|7,835,086|
|TOTAL FUNDS|||8,037,482|7,835,086|
##
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|||||||||5.4.22|5.4.21|
|---|---|---|---|---|---|---|---|---|---|
||Listed investments|||||||178)100|125,350|
||Other donations|||||||35,000|17,000|
|||||||||213)100|142,350|
|3.|INVESTMENT INCOME|||||||||
|||||||||5.4.22|5.4,21|
|||||||||f||
||Beambridge|Clubroom||rental income||||30|15|
||Listed investments|||||||206,183|191,088|
||Investment|property|income|||||64,131|65,432|
||Other interest|||||||16,019|16,000|
|||||||||286463|272,535|
|4.|RAISING|I)'UNDS||||||||
||Investment|management|||costs|||||
|||||||||5.4.22|5.4.21|
||Support costs|||||||55,998|48,273|
|5.|CHARITABLE ACTIVITIES COSTS|||||||||
||||||||||Direct|
||||||||||Costs|
||||||||||f|
||Donations
paid||||||||203,528|
|6.|SUPPORT|COSTS||||||||
|||||||Management|Finance|Other|Totals
f|
||Investment|management|||costs|55,790||208|55,998|
||Other resources expended||||||5,072|8415|13/87|
|||||||55,790|5,072|8,523|69485|
##
##
##
##
|COMPARATIVKS|FORTHE STATEMENT OF FINANCIAL AC|TIVITIES|
|---|---|---|
|||Unrestricted|
|||fund|
|INCOME AND ENDOWMENTS FROM|||
|Donations
and legacies||142,350|
|Investment
income||272,535|
|Total||414,885|
|EXPENDITURE ON|||
|Raising funds||48,273|
|Charitable
activities|||
|Donations
paid||387,509|
|Other||14,919|
|Total||450,701|
|Net gains on investments||1,019,357|
|NET INCOME||983,541|
|RECONCILIATION|OF FUNDS||
|Total funds brought|forward|6,851,545|
|TOTAL FUNDS CARRIED FORWARD||7,835,086|
|FOR|TBEYEAR ENDED 5APRIL 2022|TBEYEAR ENDED 5APRIL 2022|TBEYEAR ENDED 5APRIL 2022|||
|---|---|---|---|---|---|
|9.|AUDITORS' REMUNERATION|||||
||Net income/(expenditure)||is stated afier charging/(crediting);|||
|||||5.4.22|5.4.21|
|||||f.|f|
||Auditors'|remuneration||2,891|2,891|
||Auditors'|remuneration|for non audit work|2,181|2,181|
|10.|TANGIBLE FIXEDASSETS|||||
||||||Fixtures|
||||||and|
||||||fittings|
||COST|||||
||At 6 April|2021|||IOJ94|
||Disposals||||(372)|
||At 5 April|2022|||10,622|
||DEPRECIATION|||||
||At 6 April|2021|||10,414|
||Charge for year||||124|
||Eliminated|on disposal|||(372)|
||At 5 April|2022|||10)166|
||NKT BOOK VALUE|||||
||At 5 April|2022|||456|
||At 5 April|2021|||580|
|11.|FIXEDASSETINVESTMKNTS|||||
|||||5.4.22|5.4.21|
||Shares|||8,118,514|7,948,782|
||Loans|||200,000|200,000|
|||||8418,514|8,148,782|
##
##
##
||||||||Listed|Unlisted||
|---|---|---|---|---|---|---|---|---|---|
|~TVALUE||||||investments
f||investments|Totals
f|
|At 6 April|2021|||||5,529,742||2,419&040|7,948,782|
|Additions|||||||745,268||745468|
|Disposals|||||||(551&382)||(551482)|
|Revaluations||||||||(270&000)|(270,000)|
|Net gains/(losses)||realised|||||127,797||127,797|
|Net gains/(losses)||unrealised|||||118&049||118,049|
|At 5 April|2022|||||5,969,474||2,149,040|8,118,514|
|NET BOOK VALUE||||||||||
|At 5 April|2022|||||5,969,474||2,149,040|8,118,514|
|At 5 April|2021|||||5,529,742||2,419,040|7,948,782|
||||||||||Other|
||||||||||loans|
|At 6 April|2021 and 5||April|2022|||||200,000|
|Listed investments||included||above||||||
|||||||||2022|2021|
|||||||||f||
|UK||||||||4,175,184|3,901,193|
|Non UK||||||||~1749290|I 628 549|
|||||||||~5969474|552
42|
|Cost or valuation||at 5 April||2022 is|represented|by:||||
||||||||Listed|Unlisted||
|||||||investments||investments|Totals|
|Valuation|in 2022|||||5,969,474||2&149,040|8,118414|
|The largest|fixed asset||investments,||defined as|those which represent|more than|5'/i& ofthe portfolio|by value, are:|
|||||||||Market Value||
|||||||||at 5th April 2022
f||
||||The|Glebe|Farm, Munslow||||1,300,000|
|2&520|||JK|Funds|Pic||||619414|
|220,000|||Legal Sk General Group||||||599,940|
|201,000|||Carvetian||Capital||||599,784|
##
|NOT
FOR|ES TO THE FINANCIAL STATEMENTS - continued
THE YEAR ENDED 5APRIL 2022|ES TO THE FINANCIAL STATEMENTS - continued
THE YEAR ENDED 5APRIL 2022|||
|---|---|---|---|---|
|12.|DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||5.4.22|5.4.21|
||||f||
||Other debtors||466|466|
||Prepayments
and accrued income||16&523|15,005|
||||16,989|15,471|
|13.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
||||5.4.22|5.4.21|
||Other creditors||19&467|19,734|
|14.|PROVISIONS FOR|LIABILITIES|||
||||5.4.22|5.4.21|
|||||f|
||Committed
charitable|donations|518445|647,303|
##
##
|MOVE|MEN|T IN FUNDS|||||
|---|---|---|---|---|---|---|
||||||Net||
||||||movement|At|
|||||At 6.4.21|in funds|5.4.22|
|Unrestricted||funds|||||
|General|fund|||7,835,086|202,396|8,037,482|
|TOTAL|FUNDS|||7,835,086|202496|8&037,482|
|Net movement||in funds, included|in the above are as follows:||||
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
|Unrestricted||funds|||||
|General|fund||499,463|(272„913)|(24,154)|202496|
|TOTAL|FUNDS||499,463|(272913)|(24,154)|202496|
##
##
|||||Net||
|---|---|---|---|---|---|
|||||movement|At|
||||At 6.4.20|in funds|5.4.21|
|Unrestricted||funds||||
|General|fund||6,851,545|983,541|7,835,086|
|TOTAL|FUNDS||6,851,545|983,541|7,835,086|
||||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|---|
||||resources|expended|losses|in funds|
||||8||||
|Unrestricted||funds|||||
|General|fund||414,885|(450,701)|1,019,357|983,541|
|TOTAL|FUNDS||414,885|(450,701)|1,019,357|983,541|
||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 6.4.20|in funds|5.4.22|
|||f|||
|Unrestricted|funds||||
|General fund||6,851,545|1,185,937|8,037,482|
|TOTAL FUNDS||6,851,545|1,185,937|8,037,482|
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|||||f.||
|Unrestricted|funds|||||
|General fund||914,348|(723,614)|995,203|1,185,937|
|TOTAL FUNDS||914,348|(723,614)|995,203|1,185,937|
##
##
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##
##
##
|The carry|ing
value|ofthe ch|arity's
fin|ancial assets and liabilities
are summarise|d
by category belo|w:|
|---|---|---|---|---|---|---|
||||||5.4.22|5.4.21|
|Financial|assets at|amortised|cost||256/24|352,761|
|Financial|liabilities|at amortised
cost|||19,467|19,734|
|Financial|assets at|fair value|through|the Statement ofFinancial Activities|8418r514|8,148,782|
##
|THE MILLICHOPE FOUNDATION|THE MILLICHOPE FOUNDATION|THE MILLICHOPE FOUNDATION||||
|---|---|---|---|---|---|
|DETAILED STATEMENT
FFINANCIAL ACT|||S|||
|FOR THK YEAR ENDED||5APRIL 2022||||
|||||5.4.22|5.4.21|
|INCOME AND ENDOWMENTS||||||
|Donations
and legacies||||||
|Listed investments||||178&100|125,350|
|Other donations||||35,000|17,000|
|||||213,100|142,350|
|Investment
income||||||
|Beambridge
Clubroom|rental income|||30|15|
|Listed investments||||206,183|191,088|
|Investment
property
income||||64,131|65,432|
|Other interest||||16,019|16,000|
|||||286463|272,535|
|Total incoming
resources||||499,463|414,885|
|EXPENDITURE||||||
|Charitable
activities||||||
|Donations
paid||||203,528|387,509|
|Support costs||||||
|Management||||||
|Beambridge
Clubroom|expenses|||185|169|
|Portfolio management|fees|||28,096|24,277|
|Property
management|fees|||27,509|23,827|
|||||55,790|48,273|
|Finance||||||
|Audit fees||||2,891|2,891|
|Auditors'
remuneration|for non audit work|||2,181|2, 181|
|||||5&072|5,072|
|Other||||||
|Bank charges
and interest||||288|232|
|Oifice administration||||8,046|9,431|
|Travel and subsistence||||65|60|
|Depreciation||||124|124|
|||||8/23|9,847|
|Total resources expended||||272&913|450,701|
|Net income/(expenditure)||before gains and||||
|losses||||226,550|(35,816)|
##
|||||5.4.22|5.4.21|
|---|---|---|---|---|---|
|Realised recognised||gains and losses||||
|Realised gains/(losses)||on|fixed asset investments|127&797|111,174|
|Unrealised|gains/(losses)||on fixed asset|||
|investments||||(151&951)|908,183|
|Net income||||202&396|983,541|
##
|A4U||||||||2,000|
|---|---|---|---|---|---|---|---|---|
|ABFThe Soldiers' Charity||||||||1,000|
|Acorns Children's
Hospice||||||||2,500|
|Action for Children||||||||2,500|
|Age Concern Ludlow||||||||1,000|
|Age UK Shropshire
Telford &.Wrekin||||||||2,000|
|Albrighton
Trust Ltd||||||||2,000|
|Alstrom Syndrome UK||||||||2,000|
|Armonico
Consort||||||||1,000|
|BagBooks||||||||1,000|
|Birmingham
Children's|Hospital|||Charity||||2,500|
|Brain Tumor Support||||||||1,000|
|Brazilian Atlantic Rainforest Trust||||||||15,000|
|Breast Cancer Haven||||||||2,000|
|British Wireless for the|Blind|||||||500|
|Burwarton
&District Agricultural|||||Society|||1,000|
|Caring for God's Acre||||||||1,000|
|Climbing
Out||||||||1,000|
|Community
Council ofShropshire||||||||5,000|
|Conservation
Trust for St||Laurence,||||Ludlow||2,000|
|Corvedale CofEAided|Primary|||School||||5,500|
|Corvedale School Governors||||||||5,000|
|Countryside
Learning||||||||2,500|
|CPR Wales||||||||1,500|
|CPRE||||||||1,000|
|CPRE —Shropshire
Branch||||||||3,000|
|Crane Quality Counselling||||||||2,500|
|DEC Ukraine Appeal||||||||10,000|
|Derwen College||||||||8000|
|Dream Holidays||||||||1,000|
|Echo International
Health||Services|||Ltd|||2,000|
|Elephants
for Africa||||||||2,000|
|Ethos Group Oswestry||||||||2,000|
|Fauna &Flora International||||||||10,000|
|Foundation
Ukraine||||||||12,736|
|Friendly Transport Service Shropshire||||||||2,000|
|Garne &Wildlife Conservation|||Trust|||||10,000|
|Global Canopy Foundation||||||||20,000|
|Go Beyond||||||||2,000|
|Gordon Wright Trust||||||||500|
|Hands Together Ludlow||||||||2,500|
|Harper Adams University||Development|||||Trust|2,500|
|Carried forward||||||||156,236|
##
|Brought forward||156,236|
|---|---|---|
|Headway
Shropshire||3,000|
|Highlands
Jk Islands Environment
Foundation||5,000|
|Home-Start Telford tk Wrekin||3,000|
|Hope House||2,500|
|Isle ofJure Development|Trust|500|
|Jura Care Centre Group||1,500|
|Juvenile Diabetes Research Foundation||1,000|
|Live Music Now||1,500|
|Longmynd
Adventure
Camp||1,000|
|Ludlow Branch RJAH League ofFriends||2,500|
|Ludlow College Bursary|Pund|1,000|
|Macular Society||2,000|
|Marie Curie||2,500|
|Maurice Chandler
Sports|Centre|2,000|
|Medecins sans Frontieres||10,000|
|Megan Baker House||5,000|
|MHA Communities
( Live at Home Scheme)||1500|
|Mid Wales Opera||1,500|
|Midlands
Air Ambulance|Charity|2,500|
|National
Trust||3000|
|National
Youth Orchestra||2,500|
|Ocalenie Foundation||12,736|
|Oxfam GB||5,000|
|Pentabus
Theatre||3,000|
|Pentru Tine||8,522|
|Pioneer Centre Bursary Fund||1,000|
|Pitchford Library||5000|
|Polish Humanitarian
Action||8491|
|Prince's Trust||3,500|
|React||1,000|
|Re-Cycle||1,000|
|Revitalise||2,500|
|Riding for the Disabled (Shropshire)||1,000|
|Royal Horticultural
Society||2,000|
|Royal National
College for the Blind||2,500|
|Samaritans - Shrewsbury|Branch|2,000|
|Severn Hospice||5,000|
|Shakespear
North Theatre|Trust|5000|
|Shrewsbury
Childrens'
Bookfest||1,000|
|Shrewsbury
Christian
Centre||3,000|
|Shrewsbury
Food Hub||2,500|
|Shrewsbury
Homes for All||3,000|
|Shropshire
Domestic Abuse Service||1,000|
|Shropshire
HiUs AONB Trust||5,000|
|Carried forward||295,986|
##
##
|Brought forward||295,986|
|---|---|---|
|Shropshire
Historic Churches Trust||5,000|
|Shropshire ME Group||2000|
|Shropshire
Rural Support||1,000|
|Shropshire
Victim Support||1,000|
|Shropshire
Wildlife Trust||3,000|
|Shropshire
Youth Association||1,000|
|South Shropshire
Furniture|Scheme|2,500|
|St Catherine's
Church - Tugford||1,000|
|StJohn Ambulance||1,000|
|StMary's Youth Project||3,000|
|StMichael's
Church - Munslow||500|
|StPeter's Ludlow Mission||500|
|Strettons Mayfair Trust||3,000|
|Surfers Against Sewage||1,000|
|Taking Part||2,500|
|Telford Christian
Council||2,500|
|Trailblazers||2,000|
|ViUage Water||1,000|
|Wild Shots Outreach||1,000|
|Working Together (Ludlow)|Ltd|2,000|
|Movement
in provision
(note 14)||(128,958)|
|||203,528|
||||||Market||
|---|---|---|---|---|---|---|
||||||Value|Cost|
|||||||f|
|Equities|||||||
|2,520|JKFunds|Pic|||619,214|403,447|
|220,000|JP Morgan|Gbl Emerg||Mkts Inc|297,000|249,967|
|1,001,493|Chaarat Gold Holdings|||Ltd|175,261|255,645|
|5,100|Rio Tinto||||312,120|207,708|
|170,000|Vodafone|Group Pic|||213,316|300,921|
|13,000|Prudential|Pic|||147,355|173,059|
|10,000|British American Tobacco Pic||||322,850|352,918|
|220,000|Legal &.General Group||||599,940|565,902|
|100,000|Bango Pic||||186,500|182,549|
|13,000|M&G Pic||||28,210|27,619|
|500,000|Lloyds Banking Group|||Pic|231,525|246,475|
|201,000|Carvetian|Capital|||599,784|522,033|
|15,000|Royal Dutch Shell||Pic||318,150|209,715|
|325|Jackson Financial||||10,453|6,352|
|11,500|Alliance Trust||||113,505|85,117|
|TOTAL UK LISTED|||||4779 794|3,789,427|
|NON-UK LISTED|||||||
|Overseas Equities|||||||
|500,000|New City High Yield Fund Ltd||||268,500|272,560|
|6,000|Novartis
AG CHF0.50||||404,053|200,977|
|400,000|Jiangsu Expressway||Co|H CNY1|327,370|222,421|
|24,000|AIA Group|Ltd|||195,722|98,472|
|3,809|Pemberton|Investments|||384,676|102,839|
|1,360|JKFunds|Pic|||213,969|191,094|
|TOTAL NON-UK LISTED|||||1,794,290|1,088,363|
|TOTAL LISTEDINV~S|||||6.969.474|4,877,79~|
|A~Mls||Cost|
|---|---|---|
|Lloyds Banking Group Pic||246,475|
|Cmvetian|Capital|152,900|
|Bango Pic||182,549|
|Jackson Financial||6,352|
|Legal and|General group|131,791|
|Pemberton|Investments|25,200|
|||745,268|
|~Di|als||Market Value|Disposal||
|---|---|---|---|---|---|
||||6th April 2021|Proceeds|GainJ(Loss)|
||||or acquisition|||
||||g|||
|Royal|Dutch Shell Pic||200,310|308,060|107,750|
|Imperial||Brands|223,275|243,322|20,047|
||||423,585|551,382|127,797|