REGISTEREDCHARITY NtNBER: 289255 REPORTOF THE TRUSTEES AND UNAUDrrED FINANCIAL sfAIEMENTS FOR THE YEAR ENDED S APRIL 21123 FOR F c sfoKES TRU Harri)n Beale & Owen Litnited Chart¢red A¢wuntants Seven Stars House I Wheler Road Coventy CV3 4LB
F C STOKES TRII CONTENTS OF THE FINANCIAL sfATEMENTS ror theyearended 5 Aprli 2023 Page Reference attd Administrntive Dttsils Report of th¢ Trnrtees 2 to 3 Independent Examiner's Report StstementofFID8D¢ial A¢tiwiti¢s Bala¢¢ Shttt Notu to the Fimancil St•rnents 7 to 14 Detaikd Sl8tement of Financial Adrvitit5 15
F c STOKES TRU REFERENCE AND ADMINISTRATIVE DETAIts for the yeAr ethded 5 April 21J23 'I'RusfEES RJBrow MrsN Gr¢gory PRINCIPAL ADDRE&S clo Harnmons Solicitors Park Hous¢, Pth 1103d Stalion sqre Cov¢nty West Midland5 CVI 2FL REGISTKRED CHAIUTY NUMBER 2855 INDEPENDENT EXAtWlYER HaEYison Beale & Ow¢n Lunid Chartered Accountant5 Seven Stats H(MLS¢ I Wh¢l¢r Roi Coventy CV3 4LB Lloyds Bank pl¢ t£vel 3, Citymark 150 Founlainbridge Edinburgh EH3 9PE SOLICITORS Halnmons Solicitors Patk Hous¢ Park Road Station Squ&re Coventy Cvi 2FL BROKERS I1]ter Chewot 81b Floor Two Snowhill Bimiingham B4 6GA Page I
F C STOKES TRUST REPORT OF THE TRUSTEES forthe yeAr ended S Aprll 21123 Th¢ tNst¢¢s pr¢s¢nl th¢ir report with the fum11 statements of the ¢harAty for the Y ended 5 April 2023. The tne¢S have a(k)pted the provisions of Accounting and Reporting by Charities.. St¢meni of Re¢omm¢nded Pra¢tice appli¢obl¢ to ch1t]eS preparing their accounts in accorthee with the Financi ReFrf)rtin8 Stsndard applicable An the UK and Republicof Irelatml (frIiS 102) {effective l Jalhuary 2019). 0ECTIVEs AND ACTlVI'fiES ObJe¢tlves, aethfjtles public benefit The objecliycs of the tt are t(> pay the i0¢ of th¢ trusi to or for The betLefii of such ¢hariiable insiitutions or other Charitable objects in England as the inle¢S may in their absolut¢ dis¢Jrtion think fit. The trustees coth that th¢y have referred to the guidare coDtsined in the Charity Commis5jO]1'5 general kFuldaTC on public benefit when reviewing the ttust's aims obj¢¢tives in platIng a¢tivili¢s and s¢uliDg th¢ 8rantmakiTh8 Folicy forthe year. ACHIEVEMENf AI4D PERFORNIANCE ChxritsblÈ artiwities During the year. 29 grydnt &pplications (2022 - 66} were approved in relation to 29 OanIsat?S (2022 - 43) totallillg £28,950 (2022- £69,750) detsils of which are provid iti the ntstes to these fin8n¢iai sthmenis. Inv¢stmentperfornignte The charity holds rnulti &85et Frfo]io investm&S that managed by Quilter Ch¢vL These rtr0]loS ar¢ held to pSenTe capttal value whilsi providing a small. su5tsiDable level of income. FINANCIAL REVIEW Fln#Dd4l The twst is liant on the income its investh)cnt propertie4 qwted invcstmejjts and other rights, the income from which lotalled £57,633 (2022 - £55,575y The costs of generaiing this income tots]It4 £31.726 (2022 - £10,350) wth chwitable sUprt and governance costs of £14,538 (2022 - £15,544). The ehaTity also paid out grants thI]Ing £28,950 (2022- £69,750) during the year. Over811 unTtstricted restrves have decreased kn £110.467 (2022- £131,948). R¢s¢Trvtt policy It is ihe policy of the charity to maintain unr¢stri¢trd funds, which are the free erVeS of the charity. at a levd ih equates to approxitelY one yearfs unrestric1 exdi1re. This iyovides $utTicieni funds to ¢ov¢r the ¢osts of genernting fi]nds, supwrt costs a1 one yeafs grant applications. Any 5urplu5 fund5 are hcld in 1nvtstMeT OT short temj detrf)sits to help inalEIn the incorne lcvels in firture yeaTS. FUTURE PLANS The trustees plan to n)aintain the level of grdnt ndIng given. The trustees are aware of the w)tential effe(ts that the cOd 19 pandemic may have on the walue of the investhient porrfolios and Mryew on a regular basis to E¢ abl¢ to mallage any large redu¢tions in value. Th¢ inv4$1mt proixrties are let oul on long terni t£nancies and the trnstees d not LKpe£t thes¢ to become void in the near ththre. sniucTURE. GOVERNANCE AND MANAGEMEIYT GovernlDg dotunjent The charty is eontrollcd by Tts governin8documen( a detd Of trust and constitutes on unin¢orp)rnted charity. Chrity etsnstlwtiott F C Stokes Trust is an uninwrp)Tat¢d tnt s¢t up under the will of the late Frederick Charles Stokes. who died on 12 May 1962. The life tenant died on 19 Febnwy 1984 and the t¢ was regist¢red with the Chatity Commission on 16 April 1984 as registered cbarity numb¢r289255. ReenJltm¢nt #ppointtnent of new trnstees The trnstees are recruited and appointcd by the B(th of Irustees under the trust de. At lh¢ trustt¢s meding& the trustees diswss th¢ wt appli¢ion& inv¢s)knents. reserves and risk management Jx)licies and PerfOrnth. Riyk rnanigement The trustee5 have a duty to identify vieW the risks to which the charity is ex{ and ¢Dsw¢ appropriat¢ ntrols ar¢ in place to provide reasonable ISrni¢¢ against frdud and emr. The tnst¢¢s have examined the major strat¢gic, business and ope]ational risks that th¢ Charity f¥es and tonfirni that sysiems have been established to enable re13 T¢Wrts to be prOded so that the neccssary steps can be taken lo le5s¢n these risks. Pa8e 2
F c srokTs TRUST REPORT OF THE TRUSTEES for theyear ended 5 April 2023 Approv&J by order ofthe IK>ard oftwttts on 14November 2023 &)d Sied on ILS FKhalf by.. R J Brown. TTUStee Page 3
INDEPENDENf EXAMINER'S REPORTTO THE TRUSTb&S OF F C STOKES TRusr Independent examlner'$ report to th• trnstses ofF C Stokes Trnst I report to thc charity trnstees on my examitmtion of the aoniS of F C Stokes Tnth (th¢ Twst) for the y¢ar ended S April 2023. ResponslbllAlSes b4$is of Y¢port As the charity trustees of the TrLLSt you are resw>nsible for the preparation of the accounts accordance with th¢ requirements of the Charili¢s A¢¢ 2011 fthe Act,). I irt respect of my examination of the Twsfs ¢wrial under S¢¢tion 145 of the Aet and in eanying out my examination I hav¢ followed &ll applicable Directions given by the Charity CL)mmission under Section 145(5)(b) of the Act. Indeptlldtnt statement I have completsd my examfftnation. I confirni Itt no matttial matters haye come to njy att¢Mion in c(¥meciion with th¢ examination giving me $¢tO believe that any material respect.. accounting records were kew in Spect of the Tn1 asrtyuiml by Seclion 130 ofthe Art. or th¢ accounts do not acrd with those recoTds" or the accounts do noi wmply with the applieable requirement5 concerning the forni and cothent of accounts set oirt in the Charities (Accounts and Rewrts) Regulation5 20CI8 other than any Te4uiranent that Ihe accounts give a true aThJ fair viw whith is Th)t a matt¢r ¢onsid¢rd as wiof an independ¢nt examin10. I Iw¢ no concems and have come asS ]M) other matters in connection with the exatniDation to which attention should be drawn in this re)rt in i)rdcrtoenable a properundertthnding of the a¢countsts be reach. Gregg Okner13A tHons) MPhil ACA Harrison Beale & Owen Limited Chart¢r¢d AceoLuthts Seven Stars House I Wh¢l¢r Road C4)Yenty CV3 4LB 14 Novembw 2023 Page 4
F C STOKES TRUST srATFMEPry OF FIP4AP*CIAL ACTIlTIEs for th¢ ye¥r ¢nded 5 April 2023 2023 2022 Tothl fimds Unrestricted Endowment fund funds Notes INCOML AND EIYDOWMENTS FROM Investment inwme 50,720 913 57h33 55,575 EXPENDTfuRE OI¥ Raising fil[5 2&713 1013 31,726 10,350 Charltsble 8dlviti Gra5 43,488 85294 Totsl 722111 3013 75214 95,644 Net gain110$$cs) on investments (23,780) (11,780) 12,575 NET tNCOMEI(EXPENDrruRE) (21,481) (19180) (41 J61) 127,494) RECONCILIATION OF FUF4DS Total filttds brougm fotward 131,948 2J17,430 2A49J78 2,476.872 TOTAL FiJNDS CARRIED FORWARD 110,467 2AO&017 2,449,378 Th¢ not¢5 f¢Jrm partof thes¢finaTKial stat¢ments Page J
F C STOKES TRVST BALANCE SHErr 5 April 2023 2023 Tolgl nds 2022 Totsl fimds Unrestricted fund Endowm¢nt fijnd )tes FIXED ASSE13 Investments Investment$ I¢Stment property 111&179 184060 2JOO,OIJO 293,1139 2,IWIIOI 306,825 2.100,000 10 108.179 228U60 2J91039 2.406.825 CURRENT ASSETS Debiors 8J71 11690 21,061 49,410 CREDtroRS Amounts falling due within one ye 12 (fj083) (6.1183) (A857) NET CURRENf ASSETS 12,6YJ 14.978 42,553 TOTAL ASSETS LESS CURRENT LIABILTfiES 11•,467 2297JXI 2A08,O17 2,449J78 IYET ASSETS 11•,467 2297,$9) 2,408,Ik17 2,449,378 13 Unrestric1 funds Endowm¢nt fvnds 110,467 22975 131,948 2Jl 7,430 TOTAL FUNDS 2,4041117 2,449,378 Th¢ financial stslements wcre approved by the Bosrd of Tr*te¢S and autknised for issue on 14 Novonber 2023 And wer¢ sigll¢d on its khalf by.. R J BTQWJI- Tn]st¢e The Lotes fornh part of these fllTrallcial statements Page 6
F C STOKES TRUST N(YrES TO THE FINANCIAJ. STATEMENrs for the ye•r ended S April 2023 ACCOUNTINC POLICtES Bayi5 of prep3ng1he fJnaDeial sta¢eJDellts The financial statements of the cknity, which is a public benefit entity under FRS 101 have been prcpared in accordance with the Chariti¢s SORP (FRS 102) 'A¢counling and Reporting by Charitie5'. Ststement of Recommended Prtice applicable to charities preparing their ac£ounts in aceordance with the Financial Reporting Standard applicablc in the UK and Republic of Ireland (FRS 102) (effLxtive l january 2019),, Financial Reportin8 Standard 102 The Financial Reporting Standard applicable the UK and Republie of Ircland. and th¢ Charities Act 2011. The financial siat¢ments have b¢¢n pr¢p8rd und¢r the h1stori¢ wst convention, with th¢ ¢x¢¢ption of inv¢slmfflts which are included at mark¢t value, as modifjed by the reluatiOn of certsin assets. Intome All income is recognised in the Statcmcnt of Financial Activitie5 once thc charity entitlement to the fiJnd4 it l5 probable that the incorne will be rttcived and the #mount cttn be measured reliably. Expendire Liabilities are rolS¢d os ¢xpffldItte as soon as there is a l¢ga] or constructive obligation comD]itting the cljarity to that expelldltu, it PTobable that a ttansfff of e¢ontsmi¢ benefits will be requira in sti¢Ment and the amouni tsf the obl1110n ¢an be meawr¢d ffliably. Ewnditure is ac¢ounted for on an accrua]s b&sis and h&s been cla55ified under he]¥S that agwgate all rost r¢lated to the category. Where costs cannot be ditEdly attributed to particular haxn8S tFw have been aU(Kattd to activities on a basis consisteth with thg use of re)urces. Raising thnds costs comprise those Costs diJEct]y atrributable to managing the Itment pxrfolio and ¢ommercial property exptnse5. Grants payable are accounted for when the trustees have agreed pay the grnnt without condition and the r¢¢ipieni has a reasonable eXPtation that th¢y will wiv¢ a grani or any wndilion attacn$ to th¢ grant is outside the control of the tn]st. SupTth c051s represent the cost5 (or procsitI8 grallt5 nd applications. Goveman¢¢ costs in¢lude those Costs incurred in the governance of the charity and its assets a1 are primarily &ssociated wth constitutional and stalutory requireents. The charity is IK rtgistthtd for VAT purpose& expenditwe is therefore shown in¢lusiv¢ of )y VAT. GI[5 Off¥d Subj{ to ¢ondilK)ns whith hav¢ not been met 8t th¢ year ¢nd dat¢ are N>ted as a ¢ommittn¢nt but not accrn¢d expenditure. Investment pDrtY Inv¢5tm¢nt PToperty is showi at most recent valuaiion. Any aB£ffgate OT defjcit arising from thgeS in fair value is recognised in the Statemenl of Financial Activilies. Tax& The charity 15 exempi fr( knxort its cbaritablc activities. Fund #ccounting Unr¢siri¢t¢d fiumls ¢an be uxd in wth th¢ tharitsbl¢ obj&tiYes atthe discretiott of the Mi$tees. Restricted fi]nds can onty be used for particular restrided purposes withirt the objects of the ¢harity. Restrictions arise when spe¢ifi¢d by th¢ doror whcn funds we T8is¢d for particularrestricted purw. The ¢harity has a single pernianent ¢ndowThent. The trust provided for the tTUStees to invt5l the capital in petuity. the income of which is wholly uureytriaed. Any ¢apital gains or loss¢s wising on the investments fom part of th¢ fi]]Ml. Inv¢stmenl management charges and legal advice relating to the fid are ¢harged against unrestiicted fun¢ls. Further rxplanation of the T)atLTe and pur5¢ of each is included in the notes to th¢ fin8n¢i81 Stem¢ts. Page 7 continued...
F c sfoKES TRUST NOTES TO THE FINANCIAL STATEMENTS- eontinued ror the year ellded 5 April 2023 INVESTMF.NT INCOME 2023 2022 Retts reeeived Portfolio returns 5ffj720 913 50560 5,015 57ffi33 55,575 RAISING FUNDS RaA%iDg donations and lewits 21111 2022 Insurance Collection commission WKI agents, fees Sto¢kbroke¢s fe¢s Repairs and maintenance General propery ¢(6ts 3037 JA55 3J112 1,176 21JH6 3J07 3,434 3208 113 288 31,726 10.350 CHARITABLE ACTivrriES COSTS Grant funding of aclivities (seenole Supw)rt costs (see )te6} 5) Totals Grants 28.9511 14J38 43.488 GRANfs PAVABLE 21)23 2022 Grants 2&9511 69.750 Page 8 Continued...
F C STOKES TRusr NOTESTO THE FJNANCIALSTATEMENfs- eontlnued forthe year endNI 5 Aprll 2023 GRANfs PAYABLE. tontinued The tots] gjwsts paid institutions dwing th¢ yearwas as follows.. 21123 2022 Annonico Coajsort Ashow PCC Acorns ChildTen's Hospice Trust Bamardo's Blood CancerUK British B]ind Sport Bricish Disabled Angling Association British Heart Fouthion Can¢erResearth UK Casiel Froma Cats PrOttion Coundon ca C¢ntr¢ Charity Coven)y B¢)ys' Club Coventsy F(N)dbAnk Coventry City Nfissi Crohns and Colitis [klItid t For &)od IW TnLSt Iheam Holiday5 Guide Dogs Guy's Gift Holy Trirtity Coventry Development Trnst Hop¢ Coventy Ille05tomy AS01&1i0Th Kenilworth Readers SmFices for the Blind Kidz Club Coventy Macmillan Canccr Supw Mariecwic Mary Ann Evans Hospi¢¢ Mercia MS Therdpy Centre Molly Olly'$ Wishes Mr R H Brown Myton Hospice Nune&ton & North Watw¢kshire Equestrian Centre Nun¢aton & Warwi¢k5hir¢ Wildlif¢ PDSA Royal Nationa] Lrf¢iThMt knstitsmion Safeline Shine A Light Th¢ Coventy Children's B(xTri Fund The EnteTprise Club Disabled People The Friendship Ptoj1 The Light Houqe Thc Notable5 Ihe sVati( Am]y lluiY¢ Tffty firn's Children Cenire Uni Hospits15 Coveniry & Wan¥i¢kshir¢ Warwick5hire& Northampton Air ArnbulaTJCC Warwickshire & Solihull Blood Bikes Wanvi¢kshir¢ Young Corers Waverley Day Centre IJ 3,000 1,000 750 750 .000 1.000 2.000 2.000 1,000 1.000 ,000 ,750 1,000 2,000 2,000 1,000 2.000 1,000 ,750 2,500 ,000 1,000 iJ)00 1.0 1000 iJoo 5110 IJJ 1,0 750 iJJ(N) 750 2,000 1,000 1,000 1,500 2,000 2.000 2,000 2,000 21KI 4,000 750 1,000 1,000 3,000 750 1,500 500 2,000 2,000 2,000 1,0 iJJ( 1,000 2,000 750 3,500 1,000 1,000 1,000 conlinued...
F C STOKES TRusr NOTES TO TH£ FINANCIAL STATEMENTS- for ¢heyegT eDded S April 21123 GRANTS PAYABLE- ¢onlinued 2&950 69.750 SUPPORT COSTS Govern¢ costs 14W8 TRUSTE, REMUNERATION AND BENEFITS Thett weje no tru5tees' Temuneration or other benefits for the yetr end&J 5 April 2023 nor for the year ended 5 April 2022. Trnstee¥' expe$¢8 Thete were no trtte5, expenses paid for theyear ended 5 April 2023 norforthe yew ended 5 April 2022. COMVARATtVES FOR THE STATEMENT OF FIT4ANCIAL ACTIVITIES Unr¢stri¢*ed fimd Endowm¢nt Total funds INCOMF AND ENDOWMENTS FROM l]Jvestrn¢nt in¢ome 50560 5.015 55.575 EXPENDTfuRE ON Raising funds 7,143 3207 10,350 ritsble gctivities G¢ts 85294 85,294 Totsl 92.437 3207 95.644 N¢t gains investments 12,575 12,575 NET TrICOMEiIEXPENDITURE) (41,877) 14,383 (27,494) REC.ONCILIATION OF FUNDS Total ndS bnught fonvard 173,825 2.303,047 2.476,872 TOTAL FUNDS CARRIED FORWARD 131.948 2.317.430 2.449.378 Page 10 continued...
F C STOKES TRUST NOTES TO THE FINANCIAL STATEMENIS- continued for theyear ended 5 April 2023 FIXED A£T JNVESTMENTS Listed investm¢nts MARKETVALU At 6 April 2022 Addition5 Disposals Revu1(s 311fy825 321.682 (311ffj88) (23,780) At 5 April 2023 293,•39 NEf BOOK VALUE At5 April 2023 293.039 Ai 5 April 2022 306.825 Ther¢ w¢r¢ no inv¢stsn¢DI sets outside the U Cost or v8]uain * 5 April 2023 is represented by.. Listed investments Valuation in 2023 Cost 511 29U28 Fixed asset investments &e hdd 0£ multi asset JM)rtfolios mamged by QrrilterChevM)l. i•. INVEsfMENf PROPERTY FAIR VALVE Ai 6 April 2(Q2 and 5 April 2023 2,100.0011 NET BOOK VALUE At 5 April 2023 2,100,OIMI Ai 5 April 2(r22 2,100,000 Investment property ¢omprises Heath Fam) and Wilcox Gors¢ in Wolslon and 302 London RO ID Coventy. Heath Farn] alld Wilcox GoT5e are valued at £2,(rfbO,000 and have an historic cost of £41,106. 302 London Road i5 held at £IOO.000 with historic cost of £937. HeAth Fami and Wil¢ox Gors¢ has genernted income of £45,IK>O {2022 - £45.IMK)). 302 Lbthn Road h&8 8tnernted income of£5,720 {2022- £5,560). Heath Farm and Wikox Gorse wtre valued by Imeitts CommeIal at 5 April 2014 at open rnark¢t value and 302 London Road was valued by Payne Associates at 5 April 2014 at open market value. The trustees have rcviewed th¢se valuations a¢ each subsequent reporting date and ¢OTL5id¢r that the ¢wing va]u¢ is malerialty consistent with ih¢se valuations. Page 11 continued...
F C STOKES TRUST NOTES TO THE FINANCIAL STATEMENfs- efrntinued for the yeartt)ded 5 April 2023 DEWTOKS: AMOUNTS Tr ALLINC DUE WITHIN ONE YEAR 1023 2022 OtherdeFAors Invcstment cash aceount payments aJ)d ac¢nd income 16989 938 3.134 33,283 13,020 3.107 211161 49.410 12. CREDITORS.. AMOUNTS FALLIIYG DUE WITHIN ONE YEAR 2023 2022 Ind¢p¢nd¢nt examinerfs and accountancy fees Accnjed LKpenses 2,IiMI 3J83 2,1(K) 4,757 6.857 13. MOTrTMENT IN FUNDS Net mov¢m¢nt in fid5 At 5.4.23 At 6.4.22 Unrestricted fud5 G¢neral fi]nd 131J48 (21A81) IIOA67 ndowment Pemiè]wit endown)ent 2Jl7, (19W) 2297550 TOTAL FUNDS 2,449J78 {41J61) 2AO8.017 Nd movematt An fiu]ds. inckn¢Jed in the above areas follows.. Incoming resources RoUrceS expended Gains and ]osses Movement in filnds Unrestricted Genffal fimd 50,72 {722O1) (21381 > EndoThTheDt fvnds Pernianent endowment 6.913 (3,013) (23,780) (19l8(1) TOTAL FUNDS 57,633 (75214) (23,780) (41 J61) Page 12 continued...
F C STOKES TRUST NOTES TO THE FINANCL4L STATEMENTS- e•Dtlllued for the year ellded S April 2023 13. MOVEMENf IN FUNDS- continued Comparatlves for in fwids Net movement in fvnds Al 5.4.22 At 6.4.21 restricted General 173.825 {41,877) 131,948 dowmtnt funds Pcrn]anetht cth(k>wment 2,303.047 14J83 2,317,430 TOTAL FUNDS 2,476,872 (27,494) 2.449.378 Comparative net movement in fuThls, )ldeA in the alM)ve are as follows: Incoming resources Resources expended Gains and losses Movemcnt in fvnds UDrestrtcted GtraI fuTMI 50,5f4) (92,437) (41,877) Endowment Ibnds P¢mianent enthwm¢nt 5,015 (3,207) 11575 14,383 TOTAL FUF4DS 55.575 (95,644) 12,575 (27,494) A current year 12 months and prioryew 12 m(Trnths wmbin¢d p)sition is &8 follows: Net movernent in fimds At 5.4.23 At 6.4.21 UDre5tricle4J General thnd 173.825 {63.358) 110,467 EndoYmieDt tunds Pemiantnt enth)wment 2.303.047 15,4971 2,297,550 TOTAL FUNDS 2,476,872 (68,8551 2.408.017 Page 13 continued...
F C STOKES TRUST NOTESTO THE FINANCIAL sTATEmETrs- eontinued for the yr ended 5 April 21123 13. MOVEl¥fET4T JN FUNDS. fontiNued A current year 12 rnonth5 and PTior yew 12 months cornbilled net rnoveTneTht in funds, included in the ave are as follows.. Incoming re9)UT¢¢S Re50urce5 expended Gains and hsses in fid$ Unrestrktttl funds Genwd fijnd 101,280 (164,638) (63,3S8) Endowment funds Pem)8nent endowment 11,928 (6.220) (11,205) {5,497) TOTAL FUNDS 113,208 (170,858) 111205) (68,8551 F C Stoke5 PErmanenl endowmtnl rd wa5 e5tabli5hed in 1984 for the beDefit of such rharithbl¢ institutions or tharitabl¢ ¢aus¢s in England as th¢ trustees may, in theirabsolute discretion, think fit. Vnrestiictcd rescrves represajt cumulative surpluses since inception. 14. RELATED PARTY DJSCU)SURES There wcre M related Party tr#rtsactions forthe yearended 5 April 2023. Pag¢ 14
F C STOKES TRUST DETAILED STATEMEJYT OF FIP4ANCIAL ACTIVITIES ror Ihe year eDd¢d 5 April 2023 2023 2022 INCOME AP4D FNDOWMENrs Inves¢m¢ntincom¢ R¢nts rec¢iv¢d Portfolio reiurns 50,720 6913 50,560 5.015 57h33 55,575 Total ineoming res0ree$ 57W3 55,575 EXPENDITURE Ralslng th)nAtI•)DS and leg*iies Inswznc¢ Collectioll commission and agents. fees Stockbrokefs fees Repairs arnd maintenaELce Generdl property Costs 3,037 3A55 3A112 1,176 21A146 3,434 288 31,726 10,350 ChAritsble artivitios Grants to institutio 28J5• 69,750 Support Costs Management C1k'S fees 13,390 Governanc¢ costs Indep¢nd¢ni ¢xamin&s fee Legal fees 5,418 9,120 2,154 14138 2,154 Tota] re50urce5 exwidEd 75314 95,644 Net exwidi¢ur¢ roTe gaihl Ad losses (17WI) (40,069) Reallsed re£ognked gains È]Mt 108Se8 Portfolio gainsllosses (23,7811) 12575 Net expenditure {41J61) {27,494) 'I'bis page does tKrt form partof the statutory finla1 statements Pag¢ 15