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2022-03-31-accounts
| Legal and administrative information |
2 |
| Trustees’ report |
3-4 |
| Statement ofTrustees’ responsibilities in respect of the Trustee’s report and the financial |
S |
| statements |
|
| Independent auditor’s report to the Trustees ofThe Privy Purse Charitable Trust |
6 |
| Statement of financial acdvtues |
ID |
| Balance sheet |
Ii |
| Statement ofCash flows |
L2 |
| Notes |
13-21 |
|
Note |
Unrestricted |
Total |
Unrestricted |
Total |
|
|
funds |
funds |
Funds |
funds |
|
|
2022 |
2022 |
2021 |
2021 |
|
|
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations and legacies |
2 |
176,696 |
176,696 |
45,179 |
45,179 |
| Investments |
3 |
1,050 |
1,050 |
53,254 |
53,254 |
| Total incoming resources |
|
177,746 |
177,746 |
98,433 |
98,433 |
| Expenditure on: |
|
|
|
|
|
| Raising Funds: |
|
|
|
|
|
| Investment management fee |
|
8,615 |
8,615 |
31,561 |
31,561 |
| Charitable activities: |
|
|
|
|
|
| Ecclesiastical |
|
210,002 |
210,002 |
218,500 |
218,500 |
| Education |
|
226,808 |
226,808 |
188,105 |
188,105 |
| Other |
|
230,071 |
230,071 |
255,663 |
255,663 |
|
4 |
666,881 |
666,881 |
662,268 |
662,268 |
| Total resources expended |
|
675,496 |
675,496 |
693,829 |
693,829 |
| Net outgoing resources and movement in |
|
|
|
|
|
| fund before net gains on investments |
|
(497,750) |
(497,750) |
(595,396) |
(595,396 |
| Net gains on investments |
5 |
474,212 |
474,212 |
1,213,774 |
1,213,774 |
| Net (outgoing) / incoming resources and |
|
(23,538) |
(23,538) |
618,378 |
618,378 |
movement in fund
S |
|
|
|
|
|
| Fund balance brought fonvard at 1 April |
|
5,221,018 |
5,221,018 |
4,602,640 |
4,602,640 |
| Fund balance carried forward at 31 March |
|
5,197,480 |
5,197,480 |
5,221,018 |
5,221,018 |
|
Note |
|
|
|
|
2022 |
2021 |
|
|
£ |
L |
| Fixed assets |
|
|
|
| Investments |
5 |
5,475,690 |
5,459,051 |
| Current assets |
|
|
|
| Receivables |
7 |
1,481 |
445 |
| Cash and cash equivalents |
|
82,250 |
74,648 |
| Current Liabilities |
|
|
|
| Pavables: amounts falling due within one year |
$ |
(242,776) |
(222,770) |
| Net current assets |
|
(159,045) |
(147,677) |
| Liabilities |
|
|
|
| Pavables: amounts falling due after more than one year |
9 |
(119,165) |
(90,356) |
| Net assets |
|
5,197,480 |
5,221,018 |
| Funds |
|
|
|
| Unrestricted funds |
|
5,197,480 |
5,221,018 |
|
|
5,197,480 |
5,221,018 |
|
|
2022 |
2021 |
|
|
£ |
L |
| Cash flows from operating activities: |
|
|
|
| Net (expenditure) / income |
(as per the statement of financial activities) |
(23,538) |
618,378 |
| Ad/ustments Ion |
|
|
|
| Net gain on investments |
|
(474,212) |
(1,213,774) |
| Investment income receivable |
|
(1,050) |
(53,254) |
| (Increase / decrease in receivables |
|
(1,036) |
20,835 |
| Increase in payables |
|
48,815 |
40,033 |
| Net cash absorbed by operating activities |
|
(451,021) |
(587,782) |
| Cash flows from investing activities: |
|
|
|
| Investment income received |
|
1,050 |
53,254 |
| Purchase ofinvestments |
|
(218,253) |
(5,823,151) |
| Sale ofinvestments |
|
420,845 |
6,159,177 |
| Net cash generated by investing activities |
|
203,642 |
389,280 |
| Change in cash and cash equivalents in the year |
|
(247,379) |
(198,502) |
| Cash and cash equivalents as at |
1 April 2021 / 2020 |
370,603 |
569,105 |
| Cash and cash equivalents as |
at 31 March 2022 / 2021 |
123,224 |
370,603 |
| Analysis of cash and cash equivalents |
|
|
|
|
|
2022 |
2021 |
|
|
£ |
L |
| Cash at bank and in hand |
|
82,250 |
74,648 |
| Cash held by investment managers |
|
40,974 |
295,955 |
|
|
123,224 |
370,603 |
| Notes (continued,) |
|
|
2
Donations and legacies |
|
|
|
2022 |
2021 |
|
£ |
L |
Queen Mary’s Dolls
Ilouse |
176,328 |
44,079 |
| Oxford Scientific Films |
207 |
1,100 |
| Other donations |
161 |
- |
|
176,696 |
45,179 |
3
Dividends and interest |
|
|
|
2022 |
2021 |
|
£ |
L |
| UK Listed Investments |
1,038 |
39,721 |
| Overseas Listed Investments |
— |
13,514 |
| Bank interest |
12 |
19 |
|
1,050 |
53,254 |
4
Charitable donations |
|
|
| The following donations over f20,000 were made during the year: |
|
|
|
2022 |
2021 |
|
£ |
£ |
| City ofLondon School (Choristers) |
162,000 |
142,001) |
Chapel Royal
— I lampton Court Palace (Ecclesiastical) |
52,052 |
50,634 |
Chapel Royal
— Windsor Great Park ( Ecclesiastical) |
22,719 |
26,718 |
Chapel Royal
— Sijames’s Palace (Ecclesiastical) |
45,881 |
29,965 |
| Sandringham Group ofParishes (Ecclesiastical) |
61,064 |
61,897 |
| Game and \Vddhfe Consenration Trust |
35,468 |
27,386 |
|
379,184 |
338,600 |
|
|
Charitable |
Support |
2022 |
2021 |
|
|
Donations |
Costs |
Total |
|
|
No. |
£ |
£ |
£ |
£ |
| Ecclesiastical |
38 |
209,227 |
775 |
210,002 |
218,498 |
| Education |
2 |
226,767 |
41 |
226,808 |
188,123 |
| Other |
|
|
|
|
|
| Aged |
18 |
10,281 |
367 |
10,648 |
17,646 |
| .\ntmals |
20 |
5,480 |
408 |
5,888 |
10,153 |
| Armed Sertces |
45 |
16.511 |
918 |
17,429 |
22.327 |
| Children & Youth |
42 |
14,790 |
857 |
15,647 |
23.97 1 |
| Cultural |
19 |
8,300 |
388 |
8,688 |
11.343 |
| Disabled |
21 |
3,740 |
429 |
6,169 |
11,600 |
| Environment |
11 |
40,918 |
224 |
41,142 |
39,371 |
| Family \X’elfare |
8 |
2,070 |
163 |
2,233 |
4,285 |
| I lospices & Ilospitals |
1 1 |
8,955 |
224 |
9,179 |
20,627 |
| Medical Research |
10 |
3,390 |
204 |
3,594 |
6,003 |
| Medical \‘(‘elfare |
12 |
4,280 |
245 |
4,525 |
15,331 |
| Overseas Aid |
6 |
45,750 |
122 |
45,872 |
1,551 |
| Restoration ofCathedrals & Churches |
7 |
28.430 |
143 |
28,573 |
14,501 |
| Royal Almonry |
1 |
5,795 |
20 |
5,815 |
5,963 |
| Social \X’elfare |
13 |
5,500 |
265 |
5,765 |
9,735 |
| Sport |
21 |
5,765 |
429 |
6,194 |
[6,856 |
| Trades & Professions |
29 |
10,250 |
592 |
10,842 |
21,024 |
| Voluntary Serices |
6 |
1,745 |
123 |
1,868 |
3,348 |
|
340 |
659.9-14 |
6,937 |
666,881 |
662,266 |
were fnil (‘O’I: fi:!!) and for The Queen’s choristers, St. George’s Cha
COfl:f46,087,i. An analysis of the total movement is presented below. |
pel, \X’indsor was a cha |
rge of £64,767 |
|
2022 |
2021 |
|
£ |
£ |
| Choristers’Schoolfees/The Queen‘c ChoristerScholarshzji |
|
|
| Amounts payable |
|
|
| Commitments at 1 April |
131,268 |
113,429 |
| Commitments made in the year |
64,767 |
16,087 |
| Commitments written back in the year |
|
|
| Charged / (credited) to statement of financial activities |
196,035 |
159,516 |
| Paid in the year |
(35,190) |
(28248) |
| Commitments at 31 March |
160,845 |
131,268 |
| Commitments at31March areparable: |
|
|
| \X’ithin one year |
41,680 |
40,912 |
| After more than one year |
119,165 |
90,356 |
|
160,845 |
131,268 |
| 5 |
Investments |
|
|
|
|
|
|
Cost at |
Market Value |
Cost at |
Market Value |
|
|
31 March |
at 31 March |
31 March |
at 31 March |
|
|
2022 |
2022 |
2021 |
2021 |
|
|
£ |
£ |
£ |
£ |
| UK listed investments |
|
5,100,710 |
5,434,716 |
5,066,992 |
5,163,096 |
|
|
5,100,710 |
5,434,716 |
5,066,992 |
5,163,096 |
| Cash |
held by investment managers |
40,974 |
40,974 |
295,955 |
295,955 |
|
|
5,141,684 |
5,475,690 |
5,362,947 |
5,459,05 1 |
|
2022 |
| Opening market value ofinvestments |
5,163,096 |
| Disposals |
(376,327) |
| Purchases at cost |
218,253 |
| Unrealisedgains |
429,694 |
| Closing market value ofinvestments |
5,434,716 |
| Realised gains |
44,518 |
| Unrealised gains |
429,694 |
| Net realised and unrealised gains |
474,212 |
| 7 |
Receivables |
|
|
|
|
2022 |
2021 |
|
|
£ |
L |
| Receivables |
|
1,481 |
445 |
|
|
1,481 |
445 |
| 8 |
Current liabilities: amounts falling due within one year |
|
|
|
|
2022 |
2021 |
|
|
£ |
L |
| Purchase ledger |
|
25,972 |
1,585 |
| Donations payable |
|
204,085 |
182,912 |
| Accruals |
|
12,719 |
38,038 |
| Sundry Creditors |
|
- |
235 |
|
|
242,776 |
222,770 |
| 9 |
Payables: amounts falling due after more than one year |
|
|
|
|
2022 |
2021 |
|
|
£ |
L |
| Donations payable |
|
119,165 |
90,356 |
|
|
119,165 |
90,356 |
|
Opening |
Income |
Expenditure |
Gains / |
Closing |
|
balance at |
|
|
(losses) |
balance at |
|
1 April |
|
|
|
31 March |
|
2021 |
|
|
|
2022 |
|
£ |
£ |
£ |
£ |
£ |
| LTnrcstricted Funds |
5,221,018 |
177,746 |
(675,496) |
474,212 |
5,197,480 |
|
5,221,018 |
177,746 |
(675,496) |
474,212 |
5,197,480 |
| Year ended 31st March 2021 |
|
|
|
|
|
|
Opening |
Income |
Expenditure |
Gains / |
Closing |
|
balance at |
|
|
(losses) |
balance at |
|
1 .\pril |
|
|
|
31 March |
|
2020 |
|
|
|
2021 |
|
L |
£ |
£ |
£ |
£ |
| Unrestricted Funds |
4,602,640 |
98,433 |
(693,829) |
1,213,774 |
5,221,018 |
|
4,602,640 |
98,433 |
(693,829) |
1,213,774 |
5,221,018 |
|
Balance at year |
Balance at year |
Transactions in |
Transactions in |
Details oftransaction |
|
end |
|
the |
year |
|
| £ |
2022 |
2021 |
2022 |
2021 |
|
| Royal Collection |
339 |
28 |
176,328 |
44,080 |
Donation ofincome from RCT. net of |
| Trust RCfl |
|
|
|
|
expenses, from the admission to Queen |
|
|
|
|
|
Man’s Dolls’ I louse, \Xindsor Castle. |
| Pnvy Purse (PP) |
- |
- |
(4,840) |
(4.790) |
Recharge for Maundv Purses. |
| I listonc Royal Palaces |
(24,542) |
(23.009) |
(24,542) |
(23,230) |
Recharge for salanes ofshared |
| (IIRP) |
|
|
|
|
employees. |
| I INI Chapel Royal, St. |
1,112 |
411 |
4,475 |
411 |
Recharge for salaries ofshared |
| James’s Palace |
|
|
|
|
employees and flower expenditure. |
| (I R1CR) |
|
|
|
|
|
| Nhhtan Knights of |
- |
- |
280 |
560 |
Donation made annually |
| Windsor (MK\X) |
|
|
|
|
|