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2024-03-31-accounts
| Legal and administrative information |
|
| Trustees’ report |
3-5 |
| Statement ofTrustees’ responsibilities in respect of the Trustee’s report and the financial |
6 |
| statements |
|
| Independent auditor’s report to the Trustees ofThe Privy Purse Charitable Trust |
7-10 |
| Statement of financial activities |
11 |
| Balance sheet |
12 |
| Statement of Cash Flows |
13 |
| Notes |
14-22 |
|
I\Tote |
Unrestricted |
Total |
Unrestricted |
Total |
|
|
funds |
funds |
Funds |
funds |
|
|
2024 |
2024 |
2023 |
2023 |
|
|
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations and legacies |
2 |
886,246 |
886,246 |
629,588 |
629,588 |
| Investments |
3 |
242,550 |
242,550 |
219,949 |
219,949 |
| Total incomingresources |
|
1,128,796 |
1,128,796 |
849,5F |
849,53 |
| Expenditure on: |
|
|
|
|
|
| Raising Funds: |
|
|
|
|
|
| Investment management fee |
|
7,895 |
7,895 |
7,964 |
7,964 |
| Charitable activities: |
|
|
|
|
|
| Ecclesiastical |
|
254,694 |
254,694 |
238,463 |
238,463 |
| Education |
|
725,323 |
725,323 |
202,289 |
202,289 |
| Other |
|
425,943 |
425,943 |
186,016 |
186,016 |
|
4 |
1,405,960 |
1,405,960 |
626,68 |
626,768 |
| Total resources expended |
|
1,413,855 |
1,413,855 |
634,732 |
634,732 |
| Net (outgoing) / incoming resources and |
|
|
|
|
|
movement in
fund before net gains /
(losses) on investments |
|
(285,059) |
(285,059) |
214,805 |
214,805 |
| Net gains/ (losses) on investments |
|
284,631 |
284,631 |
(338,621) |
(338,621) |
| Net outgoing resources and movement in |
|
(428) |
(328) |
(123,816) |
(123,816) |
| Fund balance brought forward at I .\prd |
|
5,073,664 |
5,073,664 |
5,197,480 |
5,197,480 |
| Fund balance carried forward at 31 March |
|
5,073,236 |
5,073,236 |
5,073,664 |
5,073,664 |
|
I\ToIe |
|
|
|
|
2024 |
2023 |
|
|
£ |
|
| Fixed assets |
|
|
|
| Invesunents |
5 |
5,526,275 |
5,094,916 |
| Current assets |
|
|
|
| Receivables |
7 |
6,246 |
1,601 |
| Cash and cash equivalents |
|
614,834 |
417,010 |
| Current Liabilities |
|
|
|
| Pavables: amounts falling due within one year |
8 |
(517,118) |
(330,437) |
| Net current assets / (liabilities) |
|
103,962 |
88,174 |
| Liabilities |
|
|
|
| Pavables: amounts falling due after more than one year |
9 |
(557,001) |
(109,126) |
| Net assets |
|
5,073,236 |
5,073,664 |
| Funds |
|
|
|
| L’nrestricted funds |
|
5,073,236 |
5,073,664 |
|
|
5,073,236 |
5,073,664 |
|
|
2024 |
2023 |
|
|
£ |
£ |
| Cash flows from operating activities: |
|
|
|
| Net expenditure |
|
(428) |
(123,816) |
| Adjustments for: |
|
|
|
| Net (gain) / loss on investments |
|
(284,631) |
338,621 |
| Investment income receivable |
|
(242,550) |
(219,949) |
| Gncrease / decrease in receivables |
|
(4,645) |
(120) |
| Increase in pavables |
|
634,256 |
77,922 |
| Net cash generated by operating activities |
|
102,002 |
72,658 |
| Cash flows from investing activities: |
|
|
|
| Investment income received |
|
242,550 |
219,949 |
| Movement in investment proportion |
|
(146,728) |
1,179 |
| Net cash generated by investing activities |
|
95,822 |
221,128 |
| Change in cash and cash equivalents in the year |
|
197,824 |
293,786 |
| Cash and cash equivalents as at I £\prd 2023/ 2022 |
|
417,010 |
123,224 |
| Cash and cash equivalents as at 31 March 2024 / 2023 |
|
614,834 |
417,010 |
| Analysis ofcash and cash equivalents |
|
|
|
|
|
2024 |
2023 |
|
|
£ |
L |
| Cash at bank and in hand |
|
125,734 |
213,54 |
| Cash held by investmenr managers |
, |
489,100
— |
203,256. |
|
|
614,834 |
117,010 |
|
2024 |
2023 |
|
£ |
£ |
| Queen Mary’s Dolls House |
772,749 |
515,195 |
| Oxford Scientific Films |
930 |
1,831 |
| Spun Gold TV |
33,899 |
10,762 |
| Pladnumjubilee Pageant |
- |
100,000 |
| Other Donations |
78,668 |
1,800 |
|
886,246 |
629,588 |
|
2024 |
2023 |
|
£ |
£ |
| UK Listed Investments |
223,590 |
215,987 |
| Bank interest |
18,960 |
3,962 |
|
242,550 |
219,949 |
| The following |
donations over £20,000 were made during the year: |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
| City ofLondon School (Chorisrers) |
|
211,000 |
162,000 |
| Chapel Royal |
— Hampton Court Palace (Ecclesiastical) |
67,468 |
55,411 |
| Chapel Royal |
— \‘(indsor Great Park (Ecclesiastical) |
21,176 |
30,210 |
| Chapel Royal |
— SrJames’s Palace (Ecclesiastical) |
49,988 |
50,823 |
| Sandringham |
Group ofParishes (Ecclesiastical) |
87,641 |
65,904 |
| Crathte Kirk Church (Restoration of Churches) |
|
50,900 |
- |
| West Newton Church (Restoration ofChurches) |
|
50,900 |
- |
|
|
539,073 |
361,318 |
|
|
Charitable |
Support |
2024 |
2023 |
|
|
Donations |
Costs |
Total |
Total |
|
No. |
£ |
£ |
£ |
£ |
| Ecclesiastical |
39 |
252,857 |
1,837 |
254,694 |
236,463 |
| Education |
3 |
725,182 |
141 |
725,323 |
202,289 |
| Other |
|
|
|
|
|
| Aged |
16 |
8,800 |
754 |
9,554 |
11,734 |
| Animals |
20 |
6,650 |
942 |
7,592 |
7,105 |
| Armed Services |
43 |
15,100 |
2,025 |
17,125 |
14,728 |
| Children & Youth |
40 |
17,350 |
1,884 |
19,234 |
18,083 |
| Cultural |
18 |
18,060 |
848 |
18,908 |
9,792 |
| Disabled |
21 |
7,050 |
989 |
8,039 |
7,528 |
| Environment |
10 |
9,720 |
471 |
10,191 |
6,128 |
| Family Welfare |
9 |
38,375 |
424 |
38,799 |
2,32 |
| Hospices & l-lospirals |
11 |
7,800 |
516 |
8,318 |
11,050 |
| I\ledical Research |
9 |
3,900 |
424 |
4,324 |
4,428 |
| Medical Welfare |
14 |
6,150 |
659 |
7,109 |
5,423 |
| Overseas Aid |
6 |
35,900 |
283 |
36,183 |
46,046 |
| Restoration of Cathedrals & Churches |
4 |
102,650 |
188 |
102,838 |
5,823 |
| Royal Almonrv |
1 |
8,684 |
47 |
8,731 |
5,598 |
| Social\clfare |
19 |
101,318 |
895 |
102,213 |
6,946 |
| Sport |
22 |
9,550 |
1,036 |
10,586 |
7,528 |
| Trades & Professions |
29 |
12,400 |
1,366 |
13,766 |
13,060 |
| Volunran’ Services |
6 |
2, L50 |
283 |
2,433 |
2,284 |
|
340 |
1,389,946 |
16,014 |
1,405,960 |
626,768 |
|
2024 |
2023 |
|
£ |
£ |
| C’hodsters’Schoollees/TheKing’s ChoristerScholarship |
|
|
| Amounts payable |
|
|
| Commitments at I .\pril |
150,024 |
160,845 |
| Commitments made in the year |
508,865 |
29,421 |
| Commitments written back in the year |
- |
- |
| Charged / (credited) to statement of financial activities |
508,865 |
190,266 |
| Paid in the year |
(44,279) |
(40,242) |
| Commitments at 31 March |
614,610 |
150,024 |
| C’ommitmentsat31March areparable: |
|
|
| Xithin one year |
57,609 |
40,598 |
| After more than one year |
557,001 |
109,426 |
|
614,610 |
150,024 |
| Note |
s (vntinzied) |
|
|
|
|
| 5 |
Investments |
|
|
|
|
|
|
Cost at |
MarketValue |
Cost at |
Market Value |
|
|
31 March |
at 31 March |
3 1 March |
at 31 March |
|
|
2024 |
2024 |
2023 |
2023 |
|
|
£ |
£ |
£ |
£ |
| UK listed investments |
|
6,416,135 |
5,526,275 |
5,099,529 |
5,094,916 |
|
|
6,416,135 |
5,526,275 |
5,099,529 |
5,094,916 |
| Cash |
held by investment managers |
489,100 |
489,100 |
203,256 |
203,256 |
|
|
6,905,235 |
6,015,375 |
5,302,785 |
5,298,172 |
|
2024 |
|
£ |
| Opening marketvalue of investments |
5,094,916 |
| Movement in fund proportion |
146,728 |
| Unrealised gain |
284,631 |
| Closing market value ofinvestments |
5,526,275 |
| 7 |
Receivables |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
| Receivables |
|
6,246 |
1,601 |
|
|
6,246 |
1,601 |
| 8 |
Current liabilities: amounts falling due within one year |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
| Purchase ledger |
|
146,531 |
78,408 |
| Donations payable |
|
305,161 |
202,598 |
| Accruals |
|
65,326 |
45,924 |
| Sundry Creditors |
|
100 |
3,507 |
|
|
517,118 |
330,437 |
| 9 |
Payables: amounts falling due after more than one year |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
| Donations payable |
|
557,001 |
109,126 |
|
|
557,001 |
109,126 |
| 10 |
Analysis ofchanges in net debt |
|
|
|
|
|
1April |
Cash |
31 March |
|
|
2023 |
flows |
2024 |
|
|
£ |
£ |
£ |
| Cash |
and cash equivalents |
417,010 |
197,824 |
614,834 |
|
|
417,010 |
197,824 |
614,834 |
|
Opening |
Income |
Expenditure |
Gains / |
Closing |
|
balance at |
|
|
(losses) |
balance at |
|
lApril |
|
|
|
31 March |
|
2023 |
|
|
|
2024 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted Funds |
5,073,664 |
1,128,796 |
(1,413,855) |
284,631 |
5,073,236 |
|
5,073,664 |
1,128,796 |
(1,390,586) |
284,631 |
5,073,236 |
| Year ended 31” March 2023 |
|
|
|
|
|
|
Opening |
Income |
Expenditure |
Gains / |
Closing |
|
balance at |
|
|
(losses) |
balance at |
|
1 April |
|
|
|
31 March |
|
2022 |
|
|
|
2023 |
|
£ |
£ |
£ |
£ |
£ |
| L:nrestr,cted Funds |
5,197,480 |
849,537 |
(634,732) |
(338,621) |
5,03,664 |
|
5197,480 |
849,537 |
(634,732) |
(338,621) |
5,073,664 |
|
Balance atyear |
Balance atyear |
Transactions in |
Transactions in |
Details oftransaction |
|
end |
|
the |
year |
|
| £ |
2024 |
2023 |
2024 |
2023 |
|
| Royal Collection |
|
|
|
|
Donation ofincome from RCT, net of |
| Thist (RCT) |
(3,564) |
(3,508) |
772,749 |
515,195 |
expenses, from the admission to Queen |
|
|
|
|
|
Mary’s Dolls’ I-louse. Windsor Castle. |
| Prin’ Purse (PP) |
(8,495) |
- |
(8,495) |
(4,619) |
Recharge for Maundv Purses. |
1-listonc Royal Palaces
(1 IRP) |
-39,694 |
(2,810) |
39,694 |
(r,s1o) |
Recharge for salaries of shared
employees. |
F FM Chapel Royal, St.
James’s Palace
(1-IMCR) |
829 |
152 |
829 |
1,143 |
Recharge for salaries ofshared
employees and flower expenditure. |
Nhlitan Knights of
Windsor (MKW) |
350 |
- |
-
3D0 |
-
flU |
Donation made annually. |
Treasurer to The
King (Ti K) |
— |
170 |
(30,118) |
470 |
Recharge for rent, utilities and flower
expenditure relating to 1-IMCR. |