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|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|
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||||||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|
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|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|
##
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|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)|
##
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|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|