| 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. |