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|Trustees||MrJ P May||
|---|---|---|---|
|||MrJ MHulse||
|||Mr N QAbell||
|Charity number||286838||
|Principal address||27Widney Road||
|||Knowie||
|||Solihull||
|||West Midlands||
|||B939DX||
|Auditor||BurgisIBullock||
|||23-25 Waterloo|Place|
|||Leamington
Spa||
|||Warwickshire||
|||CV32 SLA||
|Bankers||Handelsbanken||
|||Myton House||
|||40 Holly Walk||
|||Leamington
Spa||
|||CV32 4HY||
|Solicitors||Wright Hassall|LLP|
|||Olympus
Avenue||
|||Leamington
Spa||
|||Warwickshire||
|||CV34 6BF||
|Investment|advisors|EFG Harris Allday||
|||33Great Charles Street||
|||Birmingham||
|||833JN||
##
||||CONTENTS||
|---|---|---|---|---|
|||||Page|
|Trustees'
report||||1-5|
|Statement of|trustees'|responsibilities|||
|Independent|auditor's|report|||
|Statement of|financial|activities|||
|Balance sheet||||12|
|Statement of|cash flows|||13|
|Notes tothe financial||statements||14-23|
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||||2022|2021|
|---|---|---|---|---|
|||Notes|f|f|
|Income from:|||||
|Investment
income|||1,448,139|1,118,547|
|Expenditure
on:|||||
|Cost ofraising funds|||20,523|22,851|
|Charitable
activities|||535,939|1,282,401|
|Total resources expended|||556,462|1,305,252|
|Net (losses) / gains on investments|||262,015|6,310,435|
|Net movement
in funds|||1,153,692|6,123,730|
|Fund balances at 1April 2021|||32,018,202|25,894,472|
|Fund balances at31March 2022|||33,171,894|32,018,202|
|All ofthe above income and expenditure|relates tothat ofunrestricted|funds.|||
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|f|f|
|Fixed assets|||||||
|Investment|properties|||10|6,339,442|3,787,000|
|Investments||||11|27,807,460|29,695,446|
||||||34,146,902|33,482,446|
|Current assets|||||||
|Debtors|||||537,232|105,326|
|Cash at bank||and in|hand||303,330|921,427|
||||||840,562|1,026,753|
|Creditors: amounts|||falling due within||||
|one year|||||(872,003)|(1,003,456)|
|Net current|(liabilities)/assets||||(31,441)|23,297|
|Total assets|less current liabilities||||34,115,461|33,505,743|
|Creditors: amounts|||falling due after||||
|more than one year|||||(943,567)|(1,487,541)|
|Net assets|||||33,171,894|32,018,202|
|Income funds|||||||
|Unrestricted||funds|||33,171,894|32,018,202|
||||||33,171,894|32,018,202|
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||||2022|2021|
|---|---|---|---|---|
|||Notes|f|f|
|Cash flows from operating|activities||||
|Cash absorbed
by operations||17|(1,663,795)|(1,444,562)|
|Investing activities|||||
|Purchase ofinvestment
property|||(2,552,442)|(200,368)|
|Purchase ofother investments|||(1,245,780)|(5,080,662)|
|Proceeds on disposal ofother investments|||3,395,781|5,471,338|
|Investment
income received|||1,448,139|1,118,547|
|Net cash generated
from|investing||||
|activities|||1,045,698|1,308,855|
|Net cash used in financing|activities||||
|Net decrease in cash and|cash equivalents||(618,097)|(135,707)|
|Cash and cash equivalents|at beginning|ofyear|921,427|1,057,134|
|Cash and cash equivalents|at end ofyear||303,330|921,427|
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||||2022|2021|
|---|---|---|---|---|
||||f|f|
|Rental income|||299,894|255,718|
|Dividends|and interest from listed investments||1,083,245|862,559|
|Dilapidation||income|65,000||
|Interest receivable||||270|
||||1,448,139|1,118,547|
|Cost ofraising funds|||||
||||2022|2021|
||||f|f|
|Investment||management|20,523|22,851|
||||20,523|22,851|
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|||||Other|Other|costs|Grants||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||payable||2022|2021|
|||||||f|f||f|f|
|Grant funding ofactivities||(see note|6)||||511,805|511,805||1,252,883|
|Governance
costs|||||24,134|||24,134||29,518|
||||||24,134||511,805|535,939||1,282,401|
|Governance
costs|include|payments|of|an audit fee of||f7,050|(2021 - f7,600) and f4,100(2021-||||
|f4,995) for accountancy||fees, trustees||remuneration|of f2,805 (2021 - f3,570), legal fees of fnil||||||
|(2021-f5,155),trustees||reimbursed|expenses off392(2021-f420) and insurance||||||costs reimbursed||
|off5,238(2021-|f5,410).||||||||||
|Grants payable|||||||||||
||||||||||2022|2021|
||||||||||f|f|
|Grants to:|||||||||||
|Newcastle
University|||||||||27,500|25,000|
|C.E.I.F|||||||||25,995|715,023|
|University
of Reading|||||||||27,500|25,000|
|Harper Adams|||||||||27,500|25,000|
|Studley College|||||||||33,000|30,000|
|Hartpury
College||||||||||250,000|
|Nuffield
Farming Scholarship||||||||||30,000|
|Sir Harold
Hillier Gardens|||||||||25,000||
|Warwick Hub|||||||||71,797||
|Royal Agricultural|University||||||||27,500||
|Henry Plumb Foundation|||||||||69,567||
|Other Grants
&f25,000||||||||176,446||152,860|
|||||||||511,805||1,252,883|
##
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|||2022|
|---|---|---|
|||f|
|Grants committed|as at01April 2021|2,403,062|
|Grants paid in year||(1,193,961)|
|New grants commited||511,805|
|Grant commitment|as at 31March 2022|1,720,906|
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||f|f|
|Revaluation|of|investments||420,467|5,213,707|
|Gain/(loss)|on|sale of investments||(158,452)|532,096|
|Revaluation|of|investment|properties||564,632|
|||||262,015|6,310,435|
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||||2022|
|---|---|---|---|
||||f|
|Fair value||||
|At 1April|2021||3,787,000|
|Additions|through|external acquisition|2,552,442|
|At31March 2022|||6,339,442|
##
||Listed|Unlisted|Cash in|Total|
|---|---|---|---|---|
||investments|investments|portfolio||
||f|f|||
|Cost or valuation|||||
|At 1April 2021|29,583,228|4,500|107,718|29,695,446|
|Additions|1,245,780|||1,245,780|
|Valuation
changes|420,467|||420,467|
|Cash movement|||357,249|357,249|
|Disposals|(3,911,482)|||(3,911,482)|
|At 31March 2022|27,337,993|4,500|464,967|27,807,460|
|Carrying amount|||||
|At31March 2022|27,337,993|4,500|464,967|27,807,460|
|At 31March 2021|29,583,228|4,500|107,718|29,695,446|
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|12|Financial|instruments|instruments|||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||f|f|
||Carrying|amount|offinancial assets|||||
||Instruments
measured
at fair value through||||profit or loss|27,337,993|29,583,228|
||Carrying|amount|offinancial|liabilities||||
||Measured|at fair|value through|profit or loss||||
||-Other financial||liabilities|||1,626,723|2,403,061|
|13|Debtors|||||||
|||||||2022|2021|
||Amounts|falling|due within one year:|||f||
||Other debtors|||||522,232|50,326|
||Prepayments
and accrued income|||||5,000|40,000|
|||||||527,232|90,326|
|||||||2022|2021|
||Amounts|falling|due after more than one year:|||f|f|
||Prepayments
and accrued income|||||10,000|15,000|
||Total debtors|||||537,232|105,326|
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|14|Creditors: amounts|Creditors: amounts|falling|due within|one year|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
||||||||Notes|f|f|
||Other taxation||||||||8,223|
||Deferred income||||||16|76,405|52,028|
||Trade creditors|||||||3,303|15,170|
||Other creditors|||||||777,339|915,521|
||Accruals|||||||14,956|12,514|
|||||||||872,003|1,003,456|
|15|Creditors: amounts||falling|due after more than one year||||||
|||||||||2022|2021|
|||||||||f|f|
||Other creditors|||||||943,567|1,487,541|
||Other creditors relate to unconditional||||grant commitments.|||||
|16|Deferred income|||||||||
|||||||||2022|2021|
|||||||||f|f|
||Arising from rental||income|invoiced
in||||||
||advance|||||||76,405|52,028|
||Deferred income|is|included|in the financial statements||as|follows:|||
|||||||||2022|2021|
|||||||||f|f|
||Deferred income|is|included|within:||||||
||Current
liabilities|||||||76,405|52,028|
||Movements
in the||year:|||||||
##
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|16|Deferred income|||||(Continued)|
|---|---|---|---|---|---|---|
||Deferred income at|1April 2021|||52,028|22,490|
||Released from previous
periods||||(52,028)|(22,490)|
||Resources deferred|in the year|||76,405|52,028|
||Deferred income at|31March 2022|||76,405|52,028|
|17|Cash generated
from operations||||2022|2021|
||||||f||
||Surplus forthe year||||1,153,692|6,123,730|
||Adjustments
for:||||||
||Investment
income|recognised
in statement||offinancial activities|(1,448,139)|(1,118,547)|
||Loss/(gain)
on disposal ofinvestments||||158,452|(532,096)|
||Fair value gains and|losses on investment|properties|||(564,632)|
||Fair value gains and|losses on investments|||{420,467)|(5,213,707)|
||Movements
in working capital:||||||
||(Increase)
in debtors||||(431,906)|{69,669)|
||{Decrease) in creditors||||(699,804)|(99,179)|
||Increase
in deferred|income|||24,377|29,53&|
||Cash absorbed
by operations||||(1,663,795)|(1,444,562)|
|18|Analysis ofchanges|in net funds|||||
||The charitable trust|had no debt during the||year.|||