| 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 | |
| Schedule ofDonations | Appendix | 1 | |
| Schedule ofListed Investments | Appendix | 2 | |
| Investment Acquisitions and Disposals |
Appendix | 3 |
| FOR THE | AR | ED5AP 2023 |
||||
|---|---|---|---|---|---|---|
| 5.4.23 | 5.4.22 | |||||
| Unrestricted | Total | |||||
| Notes | fund | fundsf | ||||
| INCOME | AND ENDOWMENTS FROM | |||||
| Donations | and legacies | 220,134 | 213,100 | |||
| Investment | income | ~277391 | 286,363 | |||
| Total | ~497525 | 499,463 | ||||
| EXPENDITURE | ON | |||||
| Raisiug funds | 56,652 | 55,998 | ||||
| Charitable | activities | |||||
| Donations | paid | 247,402 | 203,528 | |||
| Other | ~14 146 | 13,387 | ||||
| Total | ~318 00 | 272,913 | ||||
| Net gains/(tosses) | on investments | ~234 15) | ~24,154) | |||
| NET INCOME/(EXPENDITURE) | (55,490) | 202,396 | ||||
| RECONCILIATION | OFFUNDS | |||||
| Total funds | bmught forward |
8,037,482 | 7,835,086 | |||
| TOTAL FUNDS | CARRIED FORWARD | ~781 992 | 8,037,482 |
| BALANCE SHE ~5498112 23 |
ET | |||
|---|---|---|---|---|
| 5.4.23 | 5.4.22 | |||
| Unrestricted | Total | |||
| iVotes | fund | fundsf | ||
| FIXEDASSETS | ||||
| Tangible assets Investments |
10 ll |
332 7926378 |
456 8 318.514 |
|
| 7,9263710 | 8,318,970 | |||
| CURRENT ASSETS | ||||
| Debtors: amounts Cash at bank |
falling due within one year | 12 | 6,045 534821 |
16,989 239,335 |
| 540,866 | 256,324 | |||
| CREDITORS | ||||
| Amounts falling due within one year |
13 | (19,337) | (19,467) | |
| NET CURRENT | ASSETS | ~521 29 | 236.857 | |
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 83448~9 | 8,555,827 | ||
| PROVISIONS FORLIABILITIES | 14 | (466~7) | (518,345) | |
| NETASSKTS | ~781 992 | 8.037,482 | ||
| FUNDS | 15 | |||
| Unrestricted funds |
7 981992 | 8.037.482 | ||
| TOTAL FUNDS | ~781992 | 8,037,482 |
| F R | THE AR ENDED |
5APRIL 2023 | 5APRIL 2023 | 5APRIL 2023 | ||||
|---|---|---|---|---|---|---|---|---|
| 2. | DONATIONS AND |
LEGACIES | ||||||
| 5.4.23 | 5.4.22 | |||||||
| f | ||||||||
| Listed investments | 195,134 | 178,100 | ||||||
| Other donations | ~25 000 | 35,000 | ||||||
| ~220 134 | 213,100 | |||||||
| 3. | INVESTMENT INCOME | |||||||
| 5.4M | 5.4.22 | |||||||
| f | ||||||||
| Bcambridge Clubroom |
rental income | 30 | 30 | |||||
| Listed investments | 191,583 | 206,182 | ||||||
| Investment property |
income | 65~3 | 64,132 | |||||
| Other interest | ~19875 | 16,019 | ||||||
| ~277 391 | 286,363 | |||||||
| 4. | RAISING FUNDS | |||||||
| Investment management |
costs | 5.423 | 5.4.22 | |||||
| f, | ||||||||
| Supportcosts | ~56 652 | ~55 998 | ||||||
| 5. | CHARITABLEAC~ COSTS | |||||||
| Direct | ||||||||
| Costs | ||||||||
| Donations paid |
~247 402 | |||||||
| 6. | SUPPORT COSTS | |||||||
| Management f. |
Finance f |
Other f |
Totals f |
|||||
| Investment management |
costs | 56,132 | 192 | 328 | 56,652 | |||
| Other resources expended | ~5072 | ~9074 | ~14146 | |||||
| ~56 132 | ~5264 | ~9402 | ~70 798 |
| f1,000). Mr L C N (2022:f65). |
f1,000). Mr L C N (2022:f65). |
Bury and Mrs S A Bury were reimbursed fNii in respect of travel |
Bury and Mrs S A Bury were reimbursed fNii in respect of travel |
and subsistence costs |
|---|---|---|---|---|
| COMPARATIVES | FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| Unrestricted | ||||
| fundf | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies |
213,100 | |||
| Investment income |
~286 363 | |||
| Total | ~499463 | |||
| EXPENDITURE | ON | |||
| Raising funds | 55,998 | |||
| Charitable activities |
||||
| Donations paid |
203,528 | |||
| Other | 13,387 | |||
| Total | 272,913 | |||
| Net gains/Uosses) | on investments | (24,154) | ||
| NET INCOME | 202,396 | |||
| RECONCILIATION | OFFUNDS | |||
| Total funds brought | forward | 7,835,086 | ||
| TOTAL FUNDS | CARRIED FORWARD | 8,037,482 |
| 9. | AUDITORS' ~RA | TION | ||
|---|---|---|---|---|
| Net income/(expenditme) | is stated after charging/(crediting): | |||
| 5.4.23 | 5.4.22 | |||
| Auditors' remuneration |
3&000 | 2,891 | ||
| Auditors' remuneration |
for non audit work | 2,264 | 2,181 | |
| 10. | TANGIBLE FIXEDASSETS | |||
| Fixtures | ||||
| and | ||||
| fittings f |
||||
| COST | ||||
| At 6 April 2022 and 5 April 2023 | ~10622 | |||
| DEPRECIATION | ||||
| At 6 April 2022 | 10,166 | |||
| Charge for year | 124 | |||
| At 5 April 2023 | ~10290 | |||
| NET BOOK VALUE | ||||
| At 5 April 2023 | 332 | |||
| At 5 April 2022 | 456 | |||
| 11. | FIXEDASSETINVESTMENTS | |||
| 5.4.23 | 5.4.22 | |||
| f | ||||
| Shares | 7/26/78 | 8,118,514 | ||
| Loans | 200,000 | |||
| ~7926 378 | 8,318,514 |
| Listed | Unlisted | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| investments | investments | Totals | |||||||
| f | |||||||||
| MARKET VALUE | |||||||||
| At 6 April | 2022 | 5,969,474 | 2,149&040 | 8&118&514 | |||||
| Additions | 1,178,623 | 1,178,623 | |||||||
| Disposals | (1,135,944) | (1,135,944) | |||||||
| Revaluations | 109,500 | 109,500 | |||||||
| Net gains/(losses) | realised | (65,762) | (65,762) | ||||||
| Net gains/(losses) | unrealised | (278)553) | (278,553) | ||||||
| At 5 April | 2023 | 5&667&838 | 2758,540 | 7,926,378 | |||||
| NET BOOK VALUE | |||||||||
| At 5 April | 2023 | 5&667&838 | 2,258,540 | 7,926478 | |||||
| At 5 April | 2022 | 5,969,474 | 2,149,040 | 8,118,514 | |||||
| Other | |||||||||
| loans | |||||||||
| At 6 April | 2022 | 200,000 | |||||||
| Repayments in year |
(200,000) | ||||||||
| At 5 April | 2023 | ||||||||
| Listed investments | included | above | |||||||
| 2023 | 2022 | ||||||||
| UK | 4,199,964 | 4,175,184 | |||||||
| Non UK | 1467 874 | ~17942 0 | |||||||
| ~5667 838 | 5 969474 | ||||||||
| Cost or valuation | at 5 | April | 2023 is represented | by: | |||||
| Listed | Unlisted | ||||||||
| investments | investments | Totals | |||||||
| Valuation | in 2023 | 5,667,838 | 2,258&540 | 7&126,378 | |||||
| The largest | fixed asset | investments, | defined as | those which represent | more than | 5'l& ofthe portfolio by value, are: | |||
| Market Value | |||||||||
| at 5th April 2023 | |||||||||
| The | Glebe Farm, Munslow | 1,409,500 | |||||||
| 2,520 | JK | Funds | Plc | 519,851 | |||||
| 220,000 | Legal &General Group | 587,000 | |||||||
| 251,000 | Carvetian | Capital | 717&358 | ||||||
| 6,000 | Novartis | AG | 459407 |
| 5.4.23 | 5.4.22 | ||||
|---|---|---|---|---|---|
| Other debtors | 1&616 | 466 | |||
| Prepayments | and accrued income | ~4429 | ~16523 | ||
| ~6045 | 16,989 | ||||
| 13 | CREDITORS. AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 5.423 | 5.4.22 | ||||
| f. | |||||
| Other creditors | ~19 337 | 19,467 | |||
| 14. | PROVISIONS FOR | LIAR~ | |||
| 5.423 | 5.4.22 | ||||
| f | |||||
| Committed | charitable | donations | ~466 247 | 518,345 |
| MOVEMEN | T IN FUNDS | |||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 6.4.22 | in funds | 5.4.23 | ||
| f | f | |||
| Unrestricted | funds | |||
| General fund | 8,037,482 | (55)490) | 7P81$92 | |
| TOTAL FUNDS | ~8037482 | ~55 490) | ~7981 92 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended f |
losses f |
in funds | ||
| Unrestricted | funds | ||||
| General fund | 497)525 | (318400) | (234,815) | (55,490) | |
| TOTAL FUNDS | 497 25 | ~318 00) | ~234815) | ~55 490) |
| Comparatives | for movement in funds |
|||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 6.4.21 | in funds | 5.4.22 | ||
| f | f. | f. | ||
| Unrestricted | funds | |||
| General fund | 7,835,086 | 202,396 | 8,037,482 | |
| TOTAL FUNDS | 7,835,086 | 202,396 | 8,037,482 |
| Comparative | net movement in funds |
, induded in the above are a |
s follows: | ||
|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||
| resources | expended f |
losses | in funds f. |
||
| Unrestricted | funds | ||||
| General fund | 499,463 | (272,913) | (24,154) | 202,396 | |
| TOTAL FUNDS | 499,463 | ~272,913) | ~24,154) | 202,396 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 6.4.21 | in funds | 5.4.23 | ||
| f | ||||
| Unrestricted | funds | |||
| General fund | 7,835,086 | 146,906 | 7,981,992 | |
| TOTAL FUNDS | 7,835,086 | 146,906 | ~7,981992 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources f |
expended f |
losses | in funds f. |
||
| Unrestricted | funds | ||||
| General fund | 996,988 | (591,113) | (258,969) | 146,906 | |
| TOTAL FUNDS | 996,988 | ~591113) | ~258,969) | 146,906 |
| acted as a | trustee; | ||||
|---|---|---|---|---|---|
| 5.4.23 | 5.4.22 | ||||
| Brazilian | Atlantic | Rainforest | Trust | 15,000 | 15,000 |
| 5.4.23 | 5.4.22 | ||||
|---|---|---|---|---|---|
| Financial | assets at amortised | cost | 540,866 | 256,324 | |
| Financial | liabilities at amortised cost |
19&337 | 19,467 | ||
| Financial | assets at fair value | through | the Statement ofFinancial Activities | 7926@78 | 8,318,970 |
| 5.4.23 | 5.4.22 | |||
|---|---|---|---|---|
| f. | ||||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Listed investments | 195&134 | 178,100 | ||
| Other donations | ~25 000 | 35,000 | ||
| 220,134 | 213,100 | |||
| Investment income |
||||
| Beambridge Clubroom |
rental income | 30 | 30 | |
| Listed investments | 191,583 | 206,182 | ||
| Investment property income |
65&t03 | 64,132 | ||
| Other interest | ~19875 | 16,019 | ||
| ~277391 | ~286 363 | |||
| Total incoming resources |
497425 | 499,463 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Donations paid |
247,402 | 203,528 | ||
| Support costs | ||||
| Management | ||||
| Beambridge Clubroom |
expenses | 175 | 185 | |
| Portfolio management | fees | 25/97 | 28,096 | |
| Property management |
fees | ~30 60 | 27509 | |
| 56,132 | 55,790 | |||
| Finance | ||||
| Audit fees | 3,000 | |||
| Auditors' remuneration |
for non audit work | ~2264 | ||
| 5,264 | 5,072 | |||
| Other | ||||
| Bank charges sud interest | 204 | 288 | ||
| Oflice administration | 9,074 | 8,046 | ||
| Travel and subsistence | 65 | |||
| Depreciation | 124 | |||
| ~9402 | 8,523 | |||
| Total resources expended | ~318200 | 272,913 | ||
| Net income before gains | and losses | 179,325 | 226,550 |
| 5.4.23 | 5.4.22f | |||
|---|---|---|---|---|
| Realised recognised | gains and losses | |||
| Realised gains/(losses) | on | fixed asset investments | (65&762) | 127,797 |
| Unrealised gains/(losses) |
on fixed asset | |||
| investments | ~169053) | (151,951) | ||
| Net (expenditure)/income | ~55 490) | 202,396 |
| A4U | 3,000 | ||||
|---|---|---|---|---|---|
| ABFThe Soldiers' Charity | 1,000 | ||||
| Acorns Children's Hospice |
2,500 | ||||
| Action for Children | 5,000 | ||||
| Age UK Shropshire Telford &Wrekin |
2,000 | ||||
| Albrighton Trust Ltd |
2,000 | ||||
| Alstrom Syndrome UK | 2,000 | ||||
| Bag Books | 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 | ||||
| Buglife | 500 | ||||
| Burwarton &District Agricultural | Society | 1,000 | |||
| Caring for God's Acre | 1,000 | ||||
| Climbing Out |
1,000 | ||||
| Clun Valley Music | 500 | ||||
| Community Council ofShropshire |
5,000 | ||||
| Conservation Trust for St |
Laurence, Ludlow | 2,000 | |||
| Coverdale Festival | 3,000 | ||||
| Corvedale CofEAided Primary | Scbool | 5,500 | |||
| Countryside Learning |
2,500 | ||||
| CPRE | 1,500 | ||||
| CPRE - Shropshire Branch |
3,000 | ||||
| Crane Quality Counselling | 2,500 | ||||
| DEC per Syriafl'urkey Earthquake |
Appeal | 10,000 | |||
| Depaul International (MedAid Ukraine) |
10,000 | ||||
| Derwen College | 3,000 | ||||
| Dream Holidays | 1,000 | ||||
| Echo International Health |
Services | Ltd | 2,000 | ||
| Elephants for Africa |
2,000 | ||||
| Ethos Gmup Oswestry | 2,000 | ||||
| Fauna &Flora International | 10,000 | ||||
| Friendly Transport Service Shropshire | 2,000 | ||||
| Foundation ofLudlow College |
5,000 | ||||
| Game &Wildlife Conservation | Trust | 10,000 | |||
| Global Canopy Foundation | 10,000 | ||||
| Grange Festival | 2,500 | ||||
| Gordon Wright Trust | 500 | ||||
| Hands Together Ludlow | 3,000 | ||||
| Harper Adams University | Development | Trust | 2,500 | ||
| Carried forward | 144,000 |
| Brought forward | 144,000 | |||
|---|---|---|---|---|
| Headway Shropshire |
3,000 | |||
| Highlands &Islands Environment |
Foundation | 5,000 | ||
| Holdgate Church |
5,000 | |||
| Home-Start Telford & | Wrekin | 3,000 | ||
| Hope House | 2,500 | |||
| Isle ofJure Development | Trust | 1,000 | ||
| Jure Care Centre Group | 1,500 | |||
| Juvenile Diabetes Research Foundation | 1,000 | |||
| Kidney Research UK | 500 | |||
| Live Music Now | 1,500 | |||
| Little Stars Baby Bank | 2,000 | |||
| Longmynd Adventure Camp |
1,000 | |||
| Ludlow Branch RJAH League of | Friends | 2,500 | ||
| Macular Society | 2,000 | |||
| Marie Curie | 2,500 | |||
| Medecins sans Fmntieres | 10,000 | |||
| Megan Baker House | 5,000 | |||
| MHA Communities ( Live at Home Scheme) |
1,500 | |||
| Mid Wales Opera | 1,500 | |||
| Midlands Air Ambulance |
Charity | 2,500 | ||
| National Trust | 3,000 | |||
| National Youth Orchestra |
3,000 | |||
| Nature's Safe | 5,000 | |||
| Oxfam GB | 5,000 | |||
| Pentabus Theatre |
3,000 | |||
| Prince's Trust | 3,500 | |||
| React | 1,000 | |||
| Re-Cycle | 1,000 | |||
| Revitalise | 3,000 | |||
| Riding for the Disabled | (Shropshire) | 1,000 | ||
| RJAH Alice's Garden | 5,000 | |||
| Royal Horticultural Society |
2,000 | |||
| Royal National College |
for the Blind | 2,500 | ||
| Samaritans - Shrewsbury | Branch | 2,000 | ||
| Severn Hospice | 5,000 | |||
| Shrewsbury Childrens' |
Bookfest | 1,000 | ||
| Shrewsbury Christian Centre |
4,000 | |||
| Shrewsbury Food Hub |
2,500 | |||
| Shrewsbury Homes for |
All | 3,000 | ||
| Shrewsbury Men's Shed |
5,000 | |||
| Shropshire Domestic Abuse Service |
1,000 | |||
| Shropshire Hills AONB Trust |
5,000 | |||
| Carried forward | 265,000 |
| Brought forward | 265,000 | ||
|---|---|---|---|
| Shropshire Historic Churches |
Trust | 5,000 | |
| Shropshire Rural Support |
1,000 | ||
| Shropshire Wildlife Trust |
3,000 | ||
| Shropshire Youth Association |
1,000 | ||
| South Shropshire Furniture |
Scheme | 2,500 | |
| StCatherine'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 | 4,000 | ||
| Surfers Against Sewage | 1,000 | ||
| Taking Part | 2,500 | ||
| Telford Christian Council |
2,500 | ||
| Tratlblazers | 2,000 | ||
| Village Water | 1,000 | ||
| Wild Shots Outreach | 1,000 | ||
| Working Together (Ludlow) | Ltd | 2,000 | |
| Movement in provision (note |
14) | (52,098) | |
| 247,402 |
| The Millichope Foundation | The Millichope Foundation | |||||
|---|---|---|---|---|---|---|
| Schedule ofListed Invesbnents | ||||||
| For The Year Ended 5th April 2023 | ||||||
| Market | ||||||
| Value | Cost | |||||
| -LI TED | ||||||
| Equities | ||||||
| 2,520 | JKFunds Pic | 519,851 | 403,447 | |||
| 220,000 | JP Morgan Gbl | Bmerg | Mkts Inc | 281,600 | 249,967 | |
| 1,001,493 | Chaarat Gold Holdings | Ltd | 109,163 | 255,645 | ||
| 5,100 | Rio Tinto | 269,433 | 207,708 | |||
| 1,250 | Microsoft Crop | 285,448 | 252,996 | |||
| 13,000 | Prudential Pic |
143,390 | 173,059 | |||
| 4,000 | Taiwan Semiconductors | Man Ltd | 289,764 | 256,290 | ||
| 250,000 | Legal &General | Group | 587,000 | 632,009 | ||
| 150,000 | Bango Pic | 300,000 | 282,396 | |||
| 13,000 | M&G Pic | 24,681 | 27,619 | |||
| 500,000 | Lloyds Banking | Group | Pic | 242,150 | 246,475 | |
| 251,000 | Carvetian Capital |
717,358 | 655,983 | |||
| 325 | Jackson Ftnancial | 9,316 | 6,352 | |||
| 11,500 | Alliance Trust | 111,435 | 85,117 | |||
| 75,000 | City ofLondon | Investment Trust Pic |
309,375 | 308,250 | ||
| TOTAL UK LISTED | 4,199964 | 4,043,313 | ||||
| NON-UK LISTED | ||||||
| Overseas Equities | ||||||
| 500,000 | New City High | Yield Fund Ltd | 243,250 | 272,560 | ||
| 6,000 | Novartis AG CHF0.50 |
459,207 | 200,977 | |||
| 24,000 | AIA Group Ltd | 205,029 | 98,472 | |||
| 4334 | Pemberton Investments |
345,848 | 144,003 | |||
| 1,360 | JKFunds Plc | 214,540 | 191,094 | |||
| TOTAL NON-UK LISTED | 1,467,874 | 907,106 | ||||
| TOTAL LISTEDINVES~ | 5667,838 | 4,950,419 |
| ~A~ii | Cost | |||
|---|---|---|---|---|
| Microsoft | Corp | 252,996 | ||
| Carvetian | Capital | 133,950 | ||
| Bango Pic | 99,847 | |||
| City ofLondon Investment | Trust Pic | 308,250 | ||
| Legal and | General group | 66,106 | ||
| Taiwan Semiconductors | Man Ltd | 256,290 | ||
| Link Fund | Solutions | 20,020 | ||
| Pemberton | Investments | 41,164 | ||
| 1,178,623 |
| D~iosa | Market Value | Disposal | |
|---|---|---|---|
| 6th April 2022 | Proceeds | Gaia/(Loss) | |
| or acquisition | |||
| Royal Dutch Shell Pic | 318,150 | 305,848 | (12,302) |
| Vodafone Group PLC | 213,316 | 154,721 | (58,595) |
| British American Tobacco PLC | 322,850 | 352,372 | 29,522 |
| Link Fund Solutions | 20,020 | 20,194 | 174 |
| Jiangsu Expressway | 327,370 | 302,809 | (24,561) |
| 1,201,706 | 1,135,944 | (65,762) |