## ## ||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)|