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2023-03-31-accounts
| Legal and administrative information |
2 |
| Trustees’ report |
3-4 |
| Statement ofTrustees’ responsibilities in respect of the Trustee’s report and the financial |
5 |
| statements |
|
| Independent auditor’s report to the Trustees ofThe Privy Purse Charitable Trust |
6-9 |
| Statement of financial activities |
10 |
| Balance sheet |
11 |
| Statement ofCash Flows |
12 |
| Notes |
13-21 |
|
Note |
Unrestricted |
Total |
Unrestricted |
Total |
|
|
funds |
funds |
Funds |
funds |
|
|
2023 |
2023 |
2022 |
2022 |
|
|
£ |
£ |
L |
L |
| Income from: |
|
|
|
|
|
| Donations and legacies |
2 |
629,588 |
629,588 |
176,696 |
176,696 |
| Investments |
3 |
219,949 |
219,949 |
1,050 |
1,050 |
| Total incoming resources |
|
849,537 |
849,537 |
177,746 |
177,746 |
| Expenditure on: |
|
|
|
|
|
| Raising Funds |
|
|
|
|
|
| Investment management fee |
|
7,964 |
7,964 |
8,615 |
8,613 |
| Charitable acuviues: |
|
|
|
|
|
| Ecclesiastical |
|
238,463 |
238,463 |
210,002 |
210,002 |
| Education |
|
202,289 |
202,289 |
226,808 |
226,808 |
| Other |
|
186,016 |
186,016 |
230,071 |
230,071 |
|
4 |
626,768 |
626,768 |
666,881 |
666,881 |
| Total resources expended |
|
634,732 |
634,732 |
673,496 |
673,406 |
| Net incoming / (outgoing) resources and |
|
|
|
|
|
| movement in fund before net gains on |
|
214,805 |
214,805 |
(497,750) |
(497,750) |
| investments |
|
|
|
|
|
| Net (losses) / gains on investments |
5 |
(338,621) |
(338,621) |
474,212 |
4N,212 |
| Net outgoing resources and movement in |
|
(123,816) |
(123,816) |
(23,538) |
(23,538) |
| fund |
|
|
|
|
|
| Fund balance brought fpnvard at I April |
|
5,197,480 |
5,197,480 |
5,221,018 |
5,221,018 |
| Fund balance carried forward at 31 March |
|
5,073,664 |
5,073,664 |
5,197,480 |
5,197,480 |
|
Note |
|
|
|
|
2023 |
2022 |
|
|
|
Restated |
|
|
|
I |
| Fixed assets |
|
|
|
| Investments |
5 |
5,094,916 |
5,134,716 |
| Current assets |
|
|
|
| Receivables |
7 |
1,601 |
1,481 |
| Cash and cash equivalents |
|
417,010 |
123,221 |
| Current Liabilities |
|
|
|
| Pavables: amounts falling due within one year |
8 |
(330,437) |
(242,776) |
| Net current assets / (liabilities) |
|
88,174 |
(118,071) |
| Liabilities |
|
|
|
| Payables: amounts falling due after more than one year |
9 |
(109,426) |
(119,165) |
| Net assets |
|
5,073,664 |
5,197,480 |
| Funds |
|
|
|
| Unrestricted funds |
|
5,073,664 |
5,197,480 |
|
|
5,073,664 |
5,197,480 |
|
2023 |
2022 |
|
£ |
|
| Cash flows from operating activities: |
|
|
| Net expenditure (as per the statement offinancial activities) |
(123,816) |
(23,538) |
| Adjustments for: |
|
|
| Net loss / (gain) on investments |
338,621 |
(474,212) |
| Movement in investment proportion |
1,179 |
- |
| Investment income receivable |
(219,949) |
(1,050) |
| (Increase) / decrease in recetvables |
(120) |
(1,036) |
| Increase in payables |
77,922 |
48,815 |
| Net cash generated / (absorbed) by operating activities |
73,837 |
(451,021) |
| Cash flows from investing activities: |
|
|
| Investment income received |
219,949 |
1,050 |
| Purchase ofinvestments |
- |
(218,253) |
| Sale ofinvestments |
- |
420,845 |
| Net cash generated by investing activities |
219,949 |
203,642 |
| Change in cash and cash equivalents in the year |
293,786 |
(247,379) |
| Cash and cash equivalents as at 1 April 2022 / 2021 |
123,224 |
370,603 |
| Cash and cash equivalents as at 31March 2023/ 2022 |
417,010 |
123,224 |
| Analysis ofcash and cash equivalents |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Cash at bank and in hand |
213,754 |
82,250 |
| Cash held by investment managers |
203,256 |
40,974 |
|
417,010 |
123,224 |
2
Donations and legacies |
|
|
|
2023 |
2022 |
|
£ |
|
Queen Mary’s Dolls
Ilouse |
515,195 |
176,328 |
| Oxford Scientific Films |
1,831 |
207 |
| Spun Gnld 7W |
10,762 |
|
| Plaunumjubilee Pageant |
100,000 |
|
| Other donations |
1,800 |
161 |
|
629,588 |
176,696 |
3
Dividends and interest |
|
|
|
2023 |
2022 |
|
£ |
L |
| UK Listed Investments |
215,987 |
1,038 |
| Bank interest |
3,962 |
12 |
|
219,949 |
1,050 |
4
Charitable donations |
|
|
| The following donannns over f20,000 were made during the year: |
|
|
|
2023 |
2022 |
|
£ |
£ |
| Cm’ ofLondon School (Chonsters) |
162,000 |
162,000 |
Chapel Royal
— Hampton Court Palace (Ecclesiastical) |
55,411 |
52,052 |
Chapel Royal
— Windsor Great Park (Ecclesiastical) |
30,210 |
22,l9 |
Chapel Royal
—Sijames’s Palace (Ecclesiastical) |
50,823 |
45,881 |
| Sandrrngham Group ofParishes (Ecclesiastical) |
65,904 |
61,064 |
| Game and Wildlife Conservation Trust |
- |
35,468 |
|
364,348 |
379,184 |
|
|
Charitable |
Support |
2023 |
2022 |
|
|
Donations |
Costs |
Total |
|
|
No. |
£ |
£ |
£ |
£ |
| Ecclesiastical |
38 |
237,598 |
865 |
238,463 |
210,002 |
| Education |
3 |
202,221 |
68 |
202,289 |
226,808 |
| Other: |
|
|
|
|
|
| Aged |
17 |
11,347 |
387 |
11,734 |
10,618 |
| Animals |
20 |
6,650 |
455 |
7,105 |
5,888 |
| Armed Services |
43 |
13,750 |
978 |
14,728 |
17,429 |
| Children & Youth |
41 |
17,150 |
933 |
18,083 |
15,647 |
| Cultural |
19 |
9,360 |
432 |
9,792 |
8,688 |
| Disabled |
21 |
7,050 |
478 |
7,528 |
6,169 |
| Environment |
10 |
5,900 |
228 |
6,128 |
41,142 |
| Family Welfare |
8 |
2,550 |
182 |
2,732 |
2,233 |
| Hospices & Hospitals |
11 |
10,800 |
250 |
11,050 |
9,179 |
| Medical Research |
10 |
4,200 |
228 |
4,428 |
3,594 |
| Medical Welfare |
12 |
5,150 |
273 |
5,423 |
4,525 |
| Overseas Aid |
6 |
45,909 |
137 |
46,046 |
45,872 |
| Restoration of Cathedrals & Churches |
4 |
5,732 |
91 |
5,823 |
28,573 |
| Royal Almonry |
1 |
5,575 |
23 |
5,598 |
5,815 |
| Social Welfare |
13 |
6,650 |
296 |
6,946 |
5,765 |
| Sport |
21 |
7,050 |
478 |
7,528 |
6,194 |
| Trades & Professions |
29 |
12,400 |
660 |
13,060 |
10,812 |
| Voluntary’ Services |
6 |
2,150 |
134 |
2,284 |
1,868 |
|
333 |
619,192 |
7,576 |
626,768 |
666,881 |
£nil (2022: ,(niJ) and for The King’s choristers, St. George’s Chapel, \V
£64 767). An analysis ofthe total movement is presented below. |
indsor was a charge of |
£29,121 (2022. |
|
2023 |
2022 |
|
£ |
£ |
| Chotisters’Schoolfees/Theng’s ChoristerScholarship |
|
|
| Amounts payable |
|
|
| Commitments at 1 April |
160,845 |
131,268 |
| Commitments made in the year |
29,421 |
64,767 |
| Commitments written back in the year |
- |
- |
| Charged / (credited) to statement of financial activities |
190,266 |
196,035 |
| Paid in the year |
(40,242) |
(35,190) |
| Commitments at 31 March |
150,024 |
160,845 |
| Commitmentsat31March arepayable: |
|
|
| Within one year |
40,598 |
41,680 |
| After more than one year |
109,426 |
119,165 |
|
150,024 |
160,845 |
| 5 |
Investments |
|
|
|
|
|
|
Cost at |
Market Value |
Cost at |
Market Value |
|
|
31 March |
at 31 March |
31 March |
at 31 March |
|
|
2023 |
2023 |
2022 |
2022 |
|
|
£ |
£ |
£ |
£ |
| UK listed investments |
|
5,099,529 |
5,094,916 |
5,100,710 |
5,434,716 |
|
|
5,099,529 |
5,094,916 |
5,100,710 |
5,434,716 |
| Cash |
held by investment managers |
203,256 |
203,256 |
40,974 |
40,974 |
|
|
5,302,785 |
5,298,172 |
5,141,684 |
5,475,690 |
|
2023 |
|
£ |
| Opening market value ofinvestments |
5,434,716 |
| Movement in fund proportion |
(1,179) |
| Realised loss |
(664) |
| Unrealised loss |
(337,957) |
| Closing marketvalue ofinvestments |
5,094,916 |
| Realised Loss |
(664) |
| Unrealised loss |
(337,957) |
| Net realised and unrealised losses |
(338,621) |
| 7 |
Receivables |
|
|
|
|
2023 |
2022 |
|
|
£ |
£ |
| Receivables |
|
1,601 |
1,481 |
|
|
1,601 |
1,48! |
| 8 |
Current liabilities: amounts falling due within one year |
|
|
|
|
2023 |
2022 |
|
|
|
I |
| Purchase ledger |
|
78,408 |
25,972 |
| Donations payable |
|
202,598 |
204,085 |
| Accruals |
|
45,924 |
12,719 |
| Sundry Creditors |
|
3,507 |
- |
|
|
330,437 |
242,776 |
|
|
2023 |
2022 |
|
|
£ |
£ |
| Donations |
payable |
109,426 |
119,165 |
|
|
109,426 |
119,165 |
|
|
1April |
Cash |
31 March |
|
|
|
|
2022 |
flows |
2023 |
|
|
|
|
£ |
£ |
£ |
|
|
| Cash and cash equivalents |
|
123,224 |
293,786 |
417,010 |
|
|
|
|
123,224 |
293,786 |
417,010 |
|
|
| 11 |
Funds |
|
|
|
|
|
| Year ended 3t March 2023 |
|
|
|
|
|
|
|
|
Opening |
Income |
Expenditure |
Gains/ |
Closing |
|
|
balance at |
|
|
(losses) |
balance at |
|
|
1 April |
|
|
|
31 March |
|
|
2022 |
|
|
|
2023 |
|
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted Funds |
|
5,197,480 |
849,537 |
(634,732) |
(338,621) |
5,073,664 |
|
|
5,197,480 |
849,537 |
(634,732) |
(338,621) |
5,073,664 |
| Year ended 31” March 2022 |
|
|
|
|
|
|
|
|
Opening |
Income |
Expenthmre |
Gains I |
Closthg |
|
|
balance at |
|
|
(losses) |
balance at |
|
|
1 \pril |
|
|
|
31 March |
|
|
2021 |
|
|
|
2022 |
|
|
L |
£ |
£ |
£ |
£ |
| Unrestricted 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 |
|
Balance atyear |
Balance atyear |
Transactions in |
Transactions in |
Details oftransaction |
|
|
end |
the |
year |
|
| £ |
2023 |
2022 |
2023 |
2022 |
|
| Royal Collection |
(3,508) |
339 |
515,195 |
176,328 |
Donation ofincome from RCT, net of |
| Trust (RCT) |
|
|
|
|
expenses, from the admission to Queen |
|
|
|
|
|
Mary’s Dolls’ I louse, Windsor Castle. |
| Privy Purse (PP) |
- |
- |
(4,619) |
(4,840) |
Recharge for Maundv Purses. |
| I listoric Royal Palaces |
(27,810) |
(24,542) |
(27,810) |
(24,542) |
Recharge for salaries ofshared |
| (I LRP) |
|
|
|
|
employees. |
| I RI Chapel Royal, Sr. |
152 |
1,112 |
1,143 |
4,475 |
Recharge for salaries ofshared |
| James’s Palace |
|
|
|
|
employees and flower expenditure. |
| (FIMCR) |
|
|
|
|
|
| Mthtan Knights of |
- |
- |
350 |
280 |
Donation made annually |
| Windsor (MK\X) |
|
|
|
|
|
| Treasurer to The |
470 |
- |
470 |
- |
Recharge for flower expenditure relating |
| King Q17K |
|
|
|
|
to I-IMCR. |