||Page| |---|---| |Report of the Trustees|1to2| |IndependentExaminer'sReport|3| |StatementofFinancialActivities|4| |Balance Sheet|5| |Notesto theFinancialStatements|6to10| |Detailed StatementofFinancialActivities|11| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||2()22|2021| |---|---|---|---| |||Unrestricted|Total| ||Notes|funds
E|funds
f| |INCOMEANDENDOWMENTSFROM|||| |Investmentincome|2|26,928|24,710| |EXPENDITUREON|||| |Raising funds|3|9,837|10,167| |Charitableactivities|4||| |Grants in furtherance of the charity's|||| |objects||7,347|9,370| |Grant related supportcosts||3,190|3,502| |Total||20,374|
22,979| |Netgains/(losses) on investments||(90,597)|
124,518| |NETTNCOME/(EXPENDTTURE)||(84,043)|
126,249| |RECONCILIATION OFFUNDS|||| |Total funds brought forward||1,388,957|1,262,709| |TOTALFUNDSCARRIEDFORWARD||1,304,914|1,388,957| |||2()22|2021| |---|---|---|---| |||Unrestricted|Total| |||funds|funds| ||Notes|E|f| |FIXEDASSETS|||| |Investments|8|l,L63r6L2|1,251,819| |CURRENT ASSETS|||| |Cashatbank||l42tL3L|137,943| |CREDITORS|||| |Amounts fallingduewithinone year|9|(82e)|(80s)| |NET CURRENTASSETS||l4'-,3o2|137,138| |TOTAL ASSETSLESSCURRENT|||| |LIABILITIES||L,3O4|9L4|1,388,957| |NETASSETS||1,3o4,9L4|7,388,957| |FUNDS|10||| |Unrestrictedfunds||L,3O4t9l4|1,388,957| |TOTALFUNDS||1,304,914|1,388,957| ## ## ## ## ## ## ## ## ## ## |INVESTMENT INCOME||||||| |---|---|---|---|---|---|---| |||||2(J22
c||2021
I| |Dividends||||26,913||24,318| |Interest||||15||392| ||||3:t?|||24,710
:| |RAISINGFUNDS||||||| |Investmentmanagementcosts||||||| |||||2022||2021| |||||E||f| |Portfolio management||||9,837||70,767
:| |CHARITABLEACTIVITIESCOSTS||||||| |||Grant||||| |||funding of||||| |||activities||Support||| ||Direct|(see note|costs(see|||| ||Costs|s)||note6)||Totals| ||E|E||E||E| |Grants in furtherance of the||||||| |charity'sobjects||7,347||||71347| |Grant related supportcosts|2,OO;|||1,18;||3,19O| |:|2,OOt|7,347|:|1,189|:|LO,537| |GRANTS PAYABLE||||||| |||||2()22
E||2021
I| |Grants in furtherance of the charity'sobjects||||7,347||24!l| |Thetotalgrantspaidtoinstitutions during the|yearwasas|||||| |follows:||||||| |||||-2022
E||2021
t| |National Theatre||||1,5O0||7,500_| |WomenandInfantsResearch Foundation||||s,a47||| |Community Security Trust||||||1,000| |Jewish MusicBCA||||||310| |NightingaleHouse||||||6,500| |||||7t347
:||24!| |3.|RAISINGFUNDS
Investmentmanagementcosts| |---|---| ## ## ## |SUPPORTCOSTS|||| |---|---|---|---| |||Governance|| ||Finance|costs|Totals| ||E|E|t| |Grant related supportcosts|361
:|828
:|1,189| |Support costs, included in the above, areasfollows|||| |Finance|||| |||2022|2021| |||Grant|| |||related|| |||support|Total| |||costs|activities| |||E|t| |Bank charges||__t91|487| |Governancecosts|||| |||2()22|2021| |||Grant|| |||related|| |||support|Total| |||costs
E|activities
f| |Independent examiner'sfees||384|372| |Accountancy||444|432| |||828|804| ## ## ## |FIXEDASSETINVESTMENTS|| |---|---| ||Listed| ||investments| ||[.| |MARKET VALUE|| |AtlstJanuary 2022|11251rg1g| |Additions|2,39O| |Revaluations|(9O,597)| |At3lstDecember 2022|| ||'-tL63,6L2| |NET BOOK VALUE|| |At31stDecember 2022|| ||'1163r6L2| |At31stDecember 2021|1,251,919| ## ## |||2022
E|2021
t| |---|---|---|---| |Other creditors||829
:|805
:| |MOVEMENTINFUNDS|||| |||Net|| |||movement|At| ||AtLlU22|infunds|3t/t2122| ||E|E|E| |Unrestricted funds|||| |Incomefund|18,655|6,554|25,2O9| |Capital fund|L,37O,3O2|(9O,597)|1,279,7()5| ||1,388,957|(84,043)|lt304t9l4| |TOTALFUNDS|1,388,957|(84,043)|L,3O4,914| ## ## |Netmovement in funds,included|intheabove areasfollow|s||| |---|---|---|---|---| ||Incoming|Resources|Gainsand|Movement| ||resources
EE|expended|losses
E|infunds
f| |Unrestricted funds||||| |Incomefund
Capital fund|26t928|(20,374)|(90,597)|6,554
(90,597)| ||26,928|(2Or374)|(90,597)|(84,O43)| |TOTALFUNDS|26t928
:|(2(J,374)|(90,597)|(84,043)| ## ## |Comparativesformovement in fun|ds||| |---|---|---|---| |||Net|| |||movement|At| ||Atr/7/27|infunds|37/12/27| ||E|E|E| |Unrestricted funds|||| |Incomefund|t7,286|1,369|18,655| |Capital fund|r,245,422|r24,880|1,370,302| ||r,262,708|726,249|r,388,957| |TOTALFUNDS|r,262,708|L26,249|t,388,957| ## ||Incoming
resources
ET.E|Resources
expended|Gainsand

losses|Movement
infunds
E| |---|---|---|---|---| |Unrestricted funds||||| |Incomefund|24,349|(22,979)||1,369| |Capitalfund|362||t24,5r8|124,880| ||24,710|(22,979)|r24,5L8|126,249| |TOTALFUNDS|24,770|(22,979)|t24,578|L26,249| ## ## ||2022|2022|2021| |---|---|---|---| |||E|t| |INCOMEANDENDOWMENTS|||| |Investmentincome|||| |Dividends|26,9t3||24,318| |Interest||15|392| ||26,928||24,710| |Total incomingresources|26,928||24,710| |EXPENDITURE|||| |fnvestmentmanagementcosts
Portfolio management||9,837|10,767| |Charitableactivities|||| |Laytons fees
Exchange differences||2,OO4
(3)|2,222
(s)| |Grantstoinstitutions||7,347|9,310| |||9,348|11,527| |Support costs|||| |Finance|||| |Bank charges||361|481| |Governancecosts|||| |Independent examiner'sfees||384|372| |Accountancy||444|432| |||828|804| |Totalresources expended|20,374||22,979| |Netincome before gains andlosses||6,554|7,731| |Realisedrecognised gains andlosses|||| |Realisedgains/(losses)onfixedasset|||| |investments|||9,911| |Net income|:|6,554|17,642| ## |E YEAR|ENDED31STDECEMBER2022||||||| |---|---|---|---|---|---|---|---| |||Market|||||Market| |||Valueat
oL,o1.2022|Additions
intheYear|Disposals
intheYear|Profit/(Loss)
onDisposal|Revaluation
intheYear|value at
31,L2.2022| |5,000
4,755
680|Alliance Trust Ord 25p
BabcockInt.Group Ord 60p
BHPGroup US$0.50|51,550,00
15,142.00
14,955.00||||(4,17s.00)
(1,719.00)
2,524.OO|47,375.OO
13,423.OO
t7A79.OO| |4,250
42,OOO
1,685
680
14,750|Blackrock World Mining Ord5p
BNYMellon Fund Managers Global Income Units
Experian Group Ord US$o,10
Findlay ParkFundsAmericanUSDDist
FundsmithLLPEquityInst.Acc.Nav
(Accumulation dividends 29.02.2022 &31.08,2022)|25,160.00
76,650,00
61,208,00
100,412,00
100,043.00|71.59|||4,420.O0
3,935.00
(13,733.00)
(77,244.OO)
(13,791,59)|29,58O.00
ao,58s.o0
47,475.OO
89,168.00
85,323,OO| |1,500|GSKOrd 31.25p
(DemergerofHaleon 18.07,2022)|24,r02.OO|(4,625.25)|||(2,224.75)|L7|2S2.OO| |1,500|Haleon Ord!1.25
(DemergerfromGSK18.07.2022)||4,625.25|||284.75|4,910,00| |27,500
30,700
2,400
720
2,400
12,000
19,500
73,794
7,900
14,o20
3,600
t,723
16,000
55,000
1,205
7,000
722|Henderson EuroFocOrd 50p
Hermes Fund Manager Global Emerging Markets
HSBCHoldings Ord US$o.50
ImperialBrands Ord10p
IsharesMSCI USAQlty Div Ucits Etf
lPf.4organAsia Growth Ord 25p
LiontrustInvMgmt, Global EquityC GBPIncNav
MelroseIndustriesOrdO.O7 6190476
Monks Investment Trust Ord5p
Polar Capital Global Insurance E.Dis
Prudential Ord5p
Shell Ord€0.07
Schroder Oriental Ord1p
The Global Smaller Ord 2.5p
Unilever Ord 0,311111
Vodafone Group Ord US$o.2095238
Woodside Energy Group
(DemergerfromBHPGroup 01.06.2022)|44,756.OO
50,661.00
10,767.O0
7r,644.OO
77,67r.OO
54,060.00
46,746.OO
21,084,00
108,467.00
89,139.00
45,891.00
27,956.OO
42,880.00
95,480.00
47,540.OO
7,855.00|2,378.40|||(4,125.00)
(7,598.00)
1,609,00
3,278.00
2,523.OO
(10,3s0.00)
(13,467.00)
(3.341,00)
(33,s35.00)
20,433.00
(s,220.00)
72,173.OO
(1,840.00)
(16,445.00)
2,889.00
(1,958,00)
100.60|t2,376,OO
14,922.OO
80,r94.0o
43,7tO.OO
9t,279,OO
t7,743.OO
74,932.OO
109,572.00
40,67t,OO
40,129,0O
41,O40.00
79,035.00
50,429.O0
5,897.0O
2t4r9,OO
40,631,0O
43,063.00| |||1,251,819.00|2,349.99|||(90,s96,99)|1,163,612.00|