THE WILLIAM & ELLEN VINTEN TRUST
(Registered Charity No. 285758)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023
THE WILLIAM & ELLEN VINTEN TRUST
Contents
| Page | |
|---|---|
| Trustees Report | 1 |
| Independent Examiners Report | 4 |
| Statement of financial activity | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 |
THE WILLIAM & ELLEN VINTEN TRUST Trustees report for the year ended 31 March 2023
The Trustees present their annual report and financial statements of the Charity for the year ended 31[st] March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial Reporting Standard for Smaller Entities.
Objectives and activities
The principal activity of the trust during the year was continuing to pursue initiatives to increase the interest of school and college students in the Bury St Edmunds area in science and technology subjects with a view to increasing the numbers who might consider careers related to engineering and improving their attainment, as well as supporting, through bursaries, students studying engineering at university.
Achievements and Performance
The Trust, in consultation with local training providers, maintained its scheme for grants to local companies running the modern Craft Apprenticeship Scheme for engineering apprentices but this will end this year. The Trust are currently working with West Suffolk College to explore how they can best support Apprenticeships.
The link with the Smallpeice Trust, established in 2008, has continued with the Trust offering funding for local students to attend Smallpeice courses. The Trust held a three day residential course at Culford School, for 50 local students in October 2022 which it is was be supported by the Smallpeice Trust, Thales and Jaguar Landrover. The total cost of the engineering experience was £17,116.88
Dave Marriott (Clerk) retired in October 2022 and Helen Symonds was appointed, with a two‐month hand over. The Trust now operate through a Microsoft 365 Charities platform to enable all documents to be stored and shared via the Microsoft cloud. This has also allowed Trustees the option to attend meetings via Teams and the Trust has a conference speaker to support this.
Re‐establishing contacts and engagement with the schools has varied and the Trust are hoping this to continue to improve. The Trust has plans to improve the website to increase engagement and the use of social media is also being considered.
The integrity of the charity is protected by having independent investment advisors and independent inspectors, both of whom report formally to the board. The Trustees have regular meetings with, and reports from, the independent advisor, which manages the majority of the Trust’s investments on a low risk discretionary management basis.
The trust now has a ‘Bankline’ account with NatWest, for which Helen Symonds, David Youngman and Derek Langley are all registered. All payments require a second authorisation by midnight on the day the payment is raised.
Investment policy and performance
The overall financial position remains good. The income of the William & Ellen Vinten Trust is disbursed in an appropriate manner.
1
THE WILLIAM & ELLEN VINTEN TRUST Trustees report for the year ended 31 March 2023
The charity has invested funds to generate income and maintain real capital values. Performance of investments is monitored by trustees. 19.2% of the total investments are held in Vitec shares and the remaining 80.8% held in a varied portfolio. Both are managed by Investec Wealth and Investment.
Reserves Policy –
The Trustees have established a Reserves Policy with reference to Charity Commission guidance (CC19) and accounting standards, with the aim of spending any income from investments in anyone year. Cashflow is carefully monitored to match income receipts with operating expenditure. Subject to this, they do not feel that reserves are necessary. Whilst the Trustees do not intend to build up reserves for unspecified purposes, if the applications received do not warrant grants equal to the income any unspent income will be carried forward to the next period. The balance on the unrestricted fund was £38,016. At the year end, the Trust also held reserves of £1,806,052 in the endowment fund.
Financial Review
The William and Ellen Vinten Trust is primarily funded by income from these investments. Investment income amounted to £58,421 for the year. Grants for both education and training amounted to £35,501 with total expenditure amounting to £59,362. The overall result was a deficit for the year of £(1,211). The investment portfolio showed a net movement in valuation of £(335,255).
Structure, governance and management
The Trust is constituted under a deed of trust dated 31st August 1982 between Mrs Jean Crosher and “The First Trustees” and was last amended on 20 April 2012. It is a registered charity with the Charity Commission, the registered number is 285758.
The trust deed governing the William and Ellen Vinten Trust prescribed individuals and groups that nominate trustees on a rotating basis. A trustee’s term is for three years. A member of the family of the founder of the charity is also nominated by the outgoing family member. This trustee’s term of office is for his, or her, own determination.
Robin Crosher has retired from his role as Trustee and appointed his son Andrew Crosher in his place.
| Robin Crosher has retir place. |
ed from his role as Trustee and appointed his | son Andrew Crosher in h |
|---|---|---|
| Trustees | Appointed by | Date of Retirement |
| R H Crosher | Trust Deed | 28 Apr 23 |
| A Crosher | Trust Deed | ‐ |
| J Guest | The Chairman of Greene King | 29 Sep 26 |
| D Youngman | Thales Optronics | 9 Jan 24 |
| S Kenchington | Co‐opted by the Trustees (Acting Chair) 28 Apr 25 | |
| K Honeyman | Co‐opted by the Trustees | 20 May 23 |
| D Langley | Co‐opted by the Trustees | 29 Sep 26 |
| E Devlin | Co‐opted by the Trustees | 29 Sep 26 |
| J Mills | Co‐opted by the Trustees | 23 Sep 25 |
The principal address of the trust is 31 Saxham Street, Stowupland, Stowmarket, Suffolk, IP14 5DA
2
THE WILLIAM & ELLEN VINTEN TRUST Trustees report for the year ended 31 March 2023
Trustees responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the applicable Charities SORP;
-
Make judgements and estimates that are reasonable and prudent;
-
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume
-
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
19/11/2023 Approved by the trustees on ………………………… and signed on their behalf by:
D Youngman Chairman of the Trustees
3
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WILLIAM & ELLEN VINTEN TRUST
I report to the trustees on my examination of the accounts of the William and Ellen Vinten Trust (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Rumsey Helen Rumsey (Dec 11, 2023 08:08 GMT)
H Rumsey FCA, Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ 11/12/2023 …………….…..2023
Page 4
THE WILLIAM & ELLEN VINTEN TRUST
Statement of financial activities for they year to 31 March 2023
| Notes Income & Endowments from Donations & legacies Investment Income 1b Dividends receivable Interest receivable(gross) Quoted Investments High Interest Cheque Account COIF Investec Client Account Total incoming resources Expenditure on 1c Raising funds Portfolio management fees Charitable Projects and Grants Education Training Secretarial costs and disbursements Independent examiners fee Total resources expended Net income/(expenditure)before gains/(losses) on investments Net gains/(losses) on investment assets Net movements in funds Total Funds brought forward Total Funds carried forward |
Unrestricted funds £ 30,564 26,729 ‐ 561 567 58,421 ‐ 35,501 8,741 1,208 45,450 |
Unrestricted funds £ 30,564 26,729 ‐ 561 567 58,421 ‐ 35,501 8,741 1,208 45,450 |
Endowment funds £ ‐ ‐ ‐ ‐ ‐ ‐ 14,181 ‐ ‐ ‐ ‐ ‐ |
Endowment funds £ ‐ ‐ ‐ ‐ ‐ ‐ 14,181 ‐ ‐ ‐ ‐ ‐ |
Total 2022/23 £ 30,564 26,729 ‐ 561 567 58,421 14,181 35,501 ‐ 8,741 1,208 45,450 |
Total 2021/22 £ ‐ 17,743 27,995 3 14 ‐ |
||
|---|---|---|---|---|---|---|---|---|
| 45,755 | ||||||||
| 10,682 34,450 ‐ 7,775 1,152 |
||||||||
| 43,377 | ||||||||
| 45,450 | 14,181 | 59,632 | 54,059 | |||||
| 12,970 ‐ 12,970 25,046 38,016 |
(14,181) (335,255) (349,436) 2,155,488 1,806,052 |
(1,211) (335,255) (336,466) 2,180,534 1,844,068 |
(8,303) 118,474 |
|||||
| 110,171 2,070,364 |
||||||||
| 2,180,535 |
Page 5
THE WILLIAM & ELLEN VINTEN TRUST
Balance sheet as at 31 March 2023
| Notes Fixed assets Investments 1a & 2 Current assets Debtor ‐ Interest receivable Cash at bank and in hand Total current assets Creditors 6 Net current assets Net assets The funds of the charity Endowment funds Unrestricted income funds Total funds |
Unrestricted funds £ ‐ 2,559 36,677 39,236 1,220 38,016 38,016 ‐ 38,016 38,016 |
Endowment funds £ 1,661,090 ‐ 144,962 144,962 ‐ 144,962 1,806,052 1,806,052 ‐ 1,806,052 |
Total 2023 £ 1,661,090 2,559 181,639 184,198 1,220 182,978 1,844,068 1,806,052 38,016 1,844,068 |
Total 2022 £ 1,991,014 2,401 188,271 |
|---|---|---|---|---|
| 190,672 1,152 |
||||
| 189,520 | ||||
| 2,180,534 | ||||
| 2,155,488 25,046 |
||||
| 2,180,534 |
Notes 1 to 6 form an integral part of this statement
Approved by the trustees on…………………………………………….
and signed on their behalf
----- Start of picture text -----
)
)
James Guest (Nov 17, 2023 14:58 GMT) )
SAKenchington )
SAKenchington (Nov 17, 2023 15:39 GMT)
) Trustees
)
)
Emma Devlin (Nov 26, 2023 19:12 CST) )
J D Milld (Dec 8, 2023 10:13 GMT) )
Derek Langley (Dec 8, 2023 17:23 GMT)
Keith Honeyman (Dec 9, 2023 11:34 GMT)
----- End of picture text -----
Page 6
THE WILLIAM & ELLEN VINTEN TRUST
NOTES TO THE ACCOUNTS Year ended 31 March 2023
1. Accounting Policies
(a) Basis of preparation
The accounts are prepared in accordance with the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards, with the requirements of the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 SORP), issued on 16 July 2014 and updated 2 February 2016 and the Charities Act 2011 and UK Generally Accepted Accounting Practice, as it applies from 1 January 2015.
The accounts have been presented in sterling which is the functional currency of the charity.
The charity has prepared its financial statements to give a ‘true and fair’ view and in doing so has departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to give a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), issued on 16 July 2014 and updated 2 February 2016, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn.
The trust constitutes a public benefit entity as defined by FRS 102.
(b) Going Concern
At the time of approving the accounts the trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparation of the accounts.
(c) Fund structure & Objects
The endowment fund was created by a gift from the Vinten family. The income of this fund is unrestricted which the trustees are free to use for any purpose in furtherance of the charitable objects. The terms of the endowment allow the capital of the fund to be spent if the trustees so determine.
(d) Income recognition
All incoming resources are recognised in the financial statements as soon as all conditions for receipt have been met, namely: entitlement, probability of receipt, and measurement of amount.
Page 7
THE WILLIAM & ELLEN VINTEN TRUST
NOTES TO THE ACCOUNTS Year ended 31 March 2023
1. Accounting Policies (Cont’d)
(e) Expenditure recognition
Charitable grants and other expenditure are recognised in the financial statements as soon as there is a legal or constructive obligation committing the charity to the expenditure.
Support costs enable grant‐making activities to be undertaken, and are allocated to the relevant expense category (investment management expenses or charitable activities) either directly or apportioned on an appropriate basis. Trustees pay an honorarium to the Clerk to carry out the agreed duties of the Clerk.
(f) Investments
Investments are shown at market value. Changes in value during the year, whether realised or unrealised, are included in the Statement of Financial Activities.
There has been no change to the valuation rules and methods of accounting since last year.
(g) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
(h) Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no critical accounting estimates.
Page 8
THE WILLIAM & ELLEN VINTEN TRUST
Notes to the Accounts
| **2 ** | Investments Endowment Fund Original endowment 361,400 The Vitec Group Plc shares, value at date of transfer to the trust (292p) Overall increase in value to 31 March (realised and unrealised) Less sales undertaken in previous years Add purchases undertaken in previous years Less sale of shares Profit/(loss) on sale of shares Investments purchased (adjusted for accrued interest) Change in value at 31 March Investment value at 31 March 2023 A detailed investment schedule is on page 10 |
2023 1,055,288 1,055,282 (3,773,161) 3,653,605 1,991,014 (125,490) (13,865) 1,851,660 130,820 (321,390) 1,661,090 |
2022 1,055,288 952,642 (3,463,852) 3,325,593 |
|---|---|---|---|
| 1,869,671 (325,143) 15,834 |
|||
| 1,560,362 328,012 102,640 |
|||
| 1,991,014 | |||
All of the shares are held in Investecs nominee name.
The Mid‐Market Value at 31 March 2023 is as provided by Investec
Page 9
The William & Ellen Vinten Trust
Schedule of Investments held
| Nominal | Holding | Mid Market Value Additions Date 1 Apr 22 Proceeds Reali |
Mid Market Value Additions Date 1 Apr 22 Proceeds Reali |
Mid Market Value Additions Date 1 Apr 22 Proceeds Reali |
Mid Market Value Additions Date 1 Apr 22 Proceeds Reali |
Unrealised Mid Market movement Value Gain/(Loss) in value 31 Mar 23 sations |
Unrealised Mid Market movement Value Gain/(Loss) in value 31 Mar 23 sations |
Unrealised Mid Market movement Value Gain/(Loss) in value 31 Mar 23 sations |
Dividends Interest Income |
Dividends Interest Income |
|---|---|---|---|---|---|---|---|---|---|---|
| 28,600 | A2D Funding Plc 4.75% Bds 18/10/22 | 29,059 | 28,841 | (218) | ||||||
| 40,000 | Aberdeen Stan Eurp Log Ord GBP0.01 | 43,900 | (16,620) | 27,280 | 1,916.00 | |||||
| 35,000 | Allianz Glb invest Gilt yield I Inc | 64,768 | 6 Mar 23 | 50,859 | (13,910) | |||||
| 45,000 | Allianz Glb invest strategic bond I Inc | 52,173 | (7,920) | 44,253 | 1,041.00 | |||||
| 35,000 | AXA Investment Man US Sht Dur High Yield Bd | 30,821 | (2,198) | 28,623 | 1,390.00 | |||||
| 6,466 | BH Macro | 27,901 | 13 Feb 23 | (792) | 27,109 | |||||
| 27,000 | BMO Fund Mgmt | 52,137 | 29 Apr 22 | 270 | (3,915) | 47,952 | 1,803.00 | |||
| 100 | CG Portfolio Fd Real Return A GBP Sett | 20,961 | (928) | 20,033 | 342.00 | |||||
| 20,000 | Canadian Imp Bank Idx/Lkd Snr 23/10/25 | 23,279 | 1,075 | 24,354 | ||||||
| 20,000 | Canadian Imp Bank 5.4% FTSE/S&P ACall | 19,476 | 13 Dec 22 | 20,000 | 524 | |||||
| 25,000 | Citigroup Glb Mkts 5.57%FTSE | 26,183 | (568) | 25,615 | 1,393.00 | |||||
| 39,334 | Enquest Plc 7% Snr Emtn 15/2/23 | 39,774 | (801) | 38,973 | 2,753.00 | |||||
| 35,000 | Fundrock Ptnrs Ltd Fp Wheb Sust | 73,143 | (3,472) | 69,671 | 566.00 | |||||
| 47,287 | Greencoat UK Wind Ord GBP 0.01 | 72,065 | 2,010 | 74,075 | 4,142.00 | |||||
| 20,647 | HICL Infrastructure Ord | 36,772 | (4,872) | 31,900 | 1,703.00 | |||||
| 40,000 | Hipgnosis Songs Fu Ord Npv | 48,240 | (15,780) | 32,460 | 2,100.00 | |||||
| 45,000 | Impax Funds (Ire) Environmental Mkts | 75,870 | (3,465) | 72,405 | 220.00 | |||||
| 25,839 | INT Public Partner Ord | 44,727 | (7,657) | 40,504 | 2,220.00 | |||||
| 2,153 | INT Public Partner Ord | 3,434 | 26 Apr 22 | |||||||
| 10,000 | International Pers 7.75% Gtd Snr 14/12/23 GBP | 10,073 | (60) | 10,013 | 1,200.00 | |||||
| 12,500 | Ishares Ii Plc | 68,844 | (6,653) | 62,191 | 764.00 | |||||
| 40,000 | J P Morgan Am UK Ltd | 25,812 | (316) | 25,496 | 796.00 | |||||
| 59,991 | Jupiter UT Mngrs, Strategic Bond Z Inc | 37,182 | (4,349) | 32,833 | 1,537.00 | |||||
| 19,287 | Jupiter UT Mngrs, UK Special Situations I | 20,324 | 1,302 | 21,626 | 717.00 | |||||
| 10,300 | Ladbrokes Grp Fi, 5.125% 16/09/22 | 10,393 | 21 Sep 22 | 10,300 | (93) | |||||
| 50,000 | Legal & General UT L&G High Inc Trust (I) Dis | 21,260 | (2,805) | 18,455 | 1,170.00 | |||||
| 11,950 | Link Fund Manager Trojan Ireland 0 GBP Dis | 18,920 | (517) | 18,403 | ||||||
| 20,000 | Lloyds Bank Plc 7.625 Mtn 04/25 | 22,574 | (1,999) | 20,575 | 1,525.00 | |||||
| 23,615 | M&G Securities Ltd Gbl floating Rate High | 22,779 | (716) | 22,063 | 1,461.00 | |||||
| 365 | Maitland Instl Svc MI Twentyfour Am Dyn Bd | 38,797 | (5,443) | 33,354 | 1,841.00 | |||||
| 4,000 | Jupiter AM(EURope)UK Dynamic Equite | 20,322 | (3,276) | 17,046 | 161.00 | |||||
| 16,650 | Morgan Stanley BV 543% FTSE Supertracker 25 | 26,610 | 1,285 | 27,895 | ||||||
| 250 | Oaktree (Lux) Fds / Fundrock Mgmt Co | 22,395 | (2,337) | 20,058 | 1,229.00 | |||||
| 15,000 | Paragon Banking Gp 6% Snr Emtn 28/8/24 | 16,103 | (1,133) | 14,970 | 900.00 | |||||
| 43,000 | Picton Property Income Ord NPV | 42,441 | (12,663) | 29,778 | 1,505.00 | |||||
| 15,000 | Cooperatieve Rabob 4% Snr Mtn 19/9/22 | 15,168 | 20 Sep 22 | 15,000 | (168) | |||||
| 3,000 | Scot Mort Inv Tst Ord GBP0.05 | 30,780 | (10,407) | 20,373 | 110.00 | |||||
| 17,301 | Sequoia Economic I NPV | 17,716 | (3,823) | 13,893 | 1,108.00 | |||||
| 20,000 | Schroder Unit Tst Gbl Cities Real Estate | 20,680 | (4,644) | 16,036 | 249.00 | |||||
| SLF Realisation C | ||||||||||
| SLF Realisation Ordinary | ||||||||||
| 769 | SLF Realisation C Shs Npv | 83 | 81 | 64 | 66 | |||||
| 3,985 | SLF Realisation Ord Npv | 351 | 139 | 40 | 252 | |||||
| 50,000 | Tesco 6% 14/12/29 | 50,000 | 24 Oct 22 | 313 | 50,313 | 3,000.00 | ||||
| 12,500 | Twentyfour Income Ord Red GBP 0.01 | 13,344 | (719) | 12,625 | 464.00 | |||||
| 40,750 | UK Govt 0.125% I/L Gilt 22/03/29 | 67,720 | (4,389) | 63,331 | 77.00 | |||||
| 35,700 | UK Govt 0.125% Idx Lkd 22/11/36 | 63,213 | (12,890) | 50,323 | 62.00 | |||||
| 22,000 | UK Govt 2% I/L Stk 26/1/35 | 66,499 | (10,671) | 55,828 | 440.00 | |||||
| 30,000 | UK Govt 2.25% Gilt 07/09/23 | 30,383 | (620) | 29,763 | 675.00 | |||||
| 50,000 | UK Govt 2.75% Gilt 07/09/24 | 49,486 | 23 Sep 22 | (302) | 49,184 | 1,375.00 | ||||
| 36,000 | Vitec Group Plc Ord 20p shares | 486,900 | (167,760) | 319,140 | 14,400.00 | |||||
| Totals | ||||||||||
| 1,991,014 130,820 125,490 |
(13,865) (321,390) 1,661,090 |
44,955.00 13,400.00 |
Page 10
THE WILLIAM & ELLEN VINTEN TRUST
Notes to the Accounts
3 Grants
At 31 March 2023, the Trustees had undertaken to provide grants to be paid after that date of £46,206 during the financial year 2023/24.
Grants to individuals totalled £19,250 (2022, £41,600) and to institutions £26,956 (2022, £11,500)
4 Secretarial costs and disbursements
| The costs expended were: Jabu Designs (Web site) Retirement gift Portable Speaker Mrs H Symonds Mr D Marriott Creditors Ensors |
2023 £ 216 ‐ 82 4,235 4,209 8,742 2023 £ 1,220 |
2022 £ 216 25 7,534 |
|---|---|---|
| 7,775 | ||
| 2022 £ 1,152 |
5 Creditors
6 Trustees Expenses
No trustees expenses were paid during the year (2022 Nil)
7 Statement of funds
| Endowment Fund Unrestricted fund Total of funds |
Gains / B/Fwd Income Expend (losses) C/Fwd 2,155,488 ‐ (14,181) (335,255) 1,806,052 25,046 58,421 (45,450) ‐ 38,016 |
|---|---|
| 2,180,534 58,421 (59,632) (335,255) 1,844,068 |
8 Comparative Statement of Financial Activities by fund
| Income and endowments from Dividends receivable Interest receivable (gross) Expenditure on Raising funds Charitable activities Net Income (expenditure) before gains/(losses) on investments Net gains/(losses) on investment assets Net movement in funds |
Unrestricted | Unrestricted | Unrestricted | Endowment funds £ ‐ ‐ ‐ 10,682 ‐ 10,682 (10,682) 118,474 107,792 |
Total funds 17,743 28,012 |
|
|---|---|---|---|---|---|---|
| funds £ 17,743 28,012 45,755 ‐ 43,377 43,377 2,378 ‐ 2,378 |
||||||
| 45,755 10,682 43,377 |
||||||
| 54,059 | ||||||
| (8,304) 118,474 |
||||||
| 110,170 |
Page 11