2023-03-31-accounts

			Page
Legal and administrative		information
Trustees' Report			2-4
Independent Auditors'	Report and opinion		5-8
Statement ofFinancial	Activities
Balance Sheet			10
Statement ofCash Flows
Notes forming part ofthe		Financial Statements	12-19

					Note	Unrestricted	Fund	2023	2022
						Endowment	Income	Total	Total
						Fund	Fund
Income
Investments
Income from UK government			securities				6,094	6,094	6,432
Income from UK fixed		interest	stocks				46,512	46,512	41,612
Income from overseas		bonds					5,532	5,532	9,603
Dividends from UK equities							344,762	344,762	362,324
Dividends from overseas equities							68,665	68,665	52,007
Income from global investments							8,612	8,612	8,688
Income from property		stocks					18,561	18,561	21,281
Income from private	equity stocks						27,278	27,278	38,554
Bank deposit interest							1,010	1,010
Total income							527,026	527,026	540,501
Expenditure
Raising funds:
Investment management		costs				(73,202)		(73,202)	(80,476)
Charitable activities:
Distributions to charitable bodies
Grants					12		(523,000)	(523,000)	(987,000)
Support costs
Accountancy charges							(33,945)	(33,945)	(35,175)
Audit fees							(4,680)	(4,680)	(4,440)
Bank charges							(76)	(76)	(75)
Total expenditure						(73,202)	(561,701)	(634,903)	(1,107,166)
Net expenditure before	gains and
losses on investment						(73,202)	(34,675)	(107,877)	(566,665)
Net (Losses)/Gains on investments						(1,213,713)		(1,213,713)	378,642
Net expenditure after (losses)/gains				on
investments						(1,286,915)	(34,675)	(1,321,590)	(188,023)
Reconciliation offunds
Total funds brought forward at 1			April		9	17,804,021	200,108	18,004,129	18,192,152
Total funds carried forward at 31March					9	16,517,106	165,433	16,682,539	18,004,129

			Note	2023	2022
				Total	Total
Fixed Assets
Investments				16,476,319	17,763,236
Current Assets
Debtors				47,403	147,802
Cash at bank and in		hand		182,635	110,866
				230,038	258,668
Creditors - amounts		falling due within one year	7	(23,818)	(17,775)
Net current assets				206,220	240,893
Total Net Assets				16,682,539	18,004,129
The funds ofthe charity:
Unrestricted Funds:
Endowment	Fund			16,517,106	17,804,021
Income Fund				165,433	200,108
				16,682,539	18,004,129

				Note	2023	2022
					Total	Total
Operating activities:
Net cash used in operating		activities		13	(503,527)	(1,021,215)
Investing activities:
Dividends and interest Rom investments					575,296	519,825
Transfer out ofcapital account						375,000
Net cash from investing	activities				575,296	894,825
Change in cash and cash	equivalents		in the reporting
period					71,769	(126,390)
Cash and cash equivalents		at 1 April			110,866	237,256
Cash and cash equivalents		at 31March		14	182,635	110,866
Relating to:-
Bank balances included in		"cash at bank and in hand"			182,635	110,866
					182,635	110,866

Fixed Ass	et I	nvestments -Managed Funds
			Total
			2023
Fair value
At 1 April			17,609,196
Additions	at cost		3,210,514
Disposals	at carrying value		(3,939,275)
Net (loss)/gain		on revaluation	(933,301)
			15,947,134
Cash held	on	investment	529,185
At 31March			16,476,319

The value ofthe	investment portfolio analysed	by investment holdings is as follows	:
Listed securities	comprise:	2023	2022
UK government	securities	309,662	328,235
UK fixed interest	stocks	1,235,323	1,400,374
Overseas bonds		162,226	385,413
UK equities		8,939,761	10,293,955
Overseas equities		4,038,495	3,370,897
Global investinents		453,831	508,148
Property		335,187	560,392
Private equity		472,649	761,782
		15,947,134	17,609,196

6	Debtors					2023	2022
	Other debtors						52,129
	Accrued income					47,403	95,673
						47,403	147,802
7	Creditors - amounts		falling due within	one year		2023	2022
	Accruals					23,818	17,775
						23,818	17,775
8	Analysis ofnet assets		between funds
					Endowment	Income	Total
					fund	fund
	Fixed asset investments				16,476,319		16,476,319
	Current assets				40,787	189,251	230,038
	Creditors - amounts	falling due within one year				(23,818)	(23,818)
	Net assets at 31March		2023		16,517,106	165,433	16,682,539
	Comparative analysis		ofnet assets between funds
					Endowment	Income	Total
					fund	fund
	Fixed asset investments				17,763,236		17,763,236
	Current assets				40,785	217,883	258,668
	Creditors - amounts	falling due within one year				(17,775)	(17,775)
	Net assets at 31March 2022				17,804,021	200,108	18,004,129

					Transfer of
		1 April 2022	Income	Expenditure	funds	Other losses	31March 2023
Endowment	fund	17,804,021		(73,202)		(1,213,713)	16,517,106
Income fund		200,108	527,026	(561,701)			165,433
		18,004,129	527,026	(634,903)		(1,213,713)	16,682,539
Comparative	movement in funds
					Transfer of
		1April 2021	Income	Expenditure	funds	Other gains	31March 2022
						f
Endowment	fund	17,880,855		(80,476)	(375,000)	378,642	17,804,021
Income fund		311,297	540,501	(1,026,690)	375,000		200,108
		18,192,152	540,501	(1,107,166)		378,642	18,004,129

10	Comparative	information	for total funds	2022	2022	2022
				Endowment	Income	Total
						f.
	Income from	investments			540,501	540,501
	Expenditure	on raising funds		(80,476)		(80,476)
	Expenditure	on charitable	activities		(1,026,690)	(1,026,690)
	Gain on investments			378,642		378,642
	Net movement in funds			298,166	(486,189)	(188,023)

Grants
			2023	2022
Baiardo's			15,000	30,000
Royal Trinity Hospice			15,000	30,000
Trinity - Laban Conservatoire	ofMusic an	d Dance	14,000	24,000
Art Fund (previously National	Art Collecti	ons Fund)	12,000	24,000
The Children's Society			12,000	24,000
Friends ofthe Elderly			12,000	24,000
Help Musicians UK			12,000	24,000
Macmillan Cancer Support			12,000	24,000
Marie Curie Cancer Care			12,000	24,000
National Youth Orchestra of	Great Britain		12,000	24,000
Queen Elizabeth's Foundation			12,000	24,000
Saint Mungo's			12,000	24,000
Salvation Army Trust			12,000	24,000
Scope			12,000	24,000
Stroke Association			12,000	24,000
The Hepworth Wakefield			10,000	20,000
St Wilfreds Hospice Eastbourne			10,000	20,000
Alzheimers Research Trust			7,000	13,000
Canine Partners for Independence			7,000	13,000
Coram Family Survival Pack	Appeal		7,000	13,000
Crusaid (Terrance Higgins Trust)			7,000	13,000
Elizabeth Finn Trust			7,000	13,000
Enham Trust			7,000	13,000
First Story			7,000	13,000
Glyndebourne Arts Trust			7,000	13,000
Greater London Fund for the	Blind		7,000	13,000
Helen and Douglas House			7,000	13,000
King Edward VII Hospital Sister Agnes			7,000	13,000
L'Arche			7,000	13,000
Longford Trust			7,000	13,000
Motor Neurone Disease Association			7,000	13,000
National Council ofYMCA			7,000	13,000
National Society for the Prevention ofCru		elty to Children	7,000	13,000
National Trust			7,000	13,000
National Youth Choirs ofGreat Britain			7,000	13,000
Rhythm Studio Foundation			7,000	13,000
Save the Children Fund			7,000	13,000
Shipston Home Nursing			7,000	13,000
Southern Thailand Elephant Foundation			7,000	13,000
Balance CfFwd			362,000	698,000

Grants (continued)
					2023	2022
Balance B/Fwd					362,000	698,000
StGiles Trust					7,000	13,000
Toynbee Hall					7,000	13,000
Zane					7,000	13,000
Ability Net					5,000	9,000
All Saints Choir and Music		Trust	Fund		5,000	9,000
All Saints Margaret Street					5,000	9,000
Centrepoint (Soho)					5,000	9,000
College ofStBarnabas					5,000	9,000
Greenwich, Deptford 4Rotherhithe				Sea Cadet Unit	5,000	9,000
Holland Park Opera					5,000	9,000
Home Start UK					5,000	9,000
Hospice Care Kenya					5,000	9,000
Independent Age					5,000	9,000
Longborough Festival	Opera				5,000	9,000
Mildmay Hospital					5,000	9,000
Multiple Sclerosis National		Therapy		Centres	5,000	9,000
PCC Cherington					5,000	9,000
Practical Action					5,000	9,000
Royal College ofMusic					5,000	9,000
StJoseph's Pastoral Centre					5,000	9,000
The Game and Wildlife Conservation				Trust	5,000	9,000
Wallace Collection					5,000	9,000
WWF (UK)					5,000	9,000
Barn Owl Trust					4,000	7,000
Battersea Summer Scheme					4,000	7,000
Benslow Music Trust	Instrument		Loan Scheme		4,000	7,000
British Wheelchair Sports Foundation					4,000	7,000
Chaseley Trust					4,000	7,000
Friends ofEastbourne	Hospitals				4,000	7,000
Koestler Trust					4,000	7,000
Red Squirrel Survival	Trust				4,000	7,000
Sir John Soane's Museum					4,000	7,000
Songbird Survival					4,000	7,000
					523,000	987,000

	Reconciliation ofnet movement	Reconciliation ofnet movement	in funds to	net cash	used in
	operations						2023	2022
	Net movetnent in funds for	the year					(1,321,589)	(188,023)
	Adjustments for:
	Losses/(gains) on investments						1,213,713	(378,642)
	Dividends and interest from investments						(527,026)	(540,501)
	Investment manager fees						73,202	80,476
	Decrease/(increase) in debtors						52,129
	Increase/(decrease) in creditors						6,044	5,475
	Net cash used in operating	activities					(503,527)	(1,021,215)
14	Analysis ofchanges in net	debt			At 1	April	Cash flows	At 31March
						2022		2023
	Fund balances at 31March	2023	as represented	by:
	Cash at bank and in hand				110,866		71,769	182,635