THE ALEXANDER FUND ARe istered Charit No. 303765 TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022 THE ALEXANDER FUND FULL NAME OF CHARITY The Alexander Fund GOVERNING INSTRUMENT Scheme regulated by the High Court {Chancery Division) of 20 January 1964, as varied by schemes of the Charity Commissioners dated 20 July 1987 and 18 April 1994 DATE OF REGISTRATION 1 January 1964 REGISTERED CHARITY NO. 303765 TRUSTEES OF CHARITY DURING THE YEAR ENDING 31ST DECEMBER 2022 Mrs Linda Hurford (retired as trustee by resolution on 15.6.2022. Miss Hannah Crampton Chrislopher John Evans Mrs Gillian Williams lan Malcolm Andrews Gary Raymond Cooper Gavin Crockett Ferguson Ms Rosemary Frances Merricks PRINCIPAL ADDRESS clo Minerva House 5 Monlague Close London SEI 9BB SOLICITORS TO THE CHARITY Winckworlh Sherwood LLP MineNa House 5 Montague Close London SE19BB BANKERS TO THE CHARITY Winckworth Sherwood LLP Client current and deposit accounts {wilh Lloyds Bank) AUDITORS TO THE CHARITY Newton & Garner Limited Building 2 30 Friern Park North Finchley London N12 9DA AREA OF BENEFIT London Boroughs of Lambelh and Wandsworth INVESTMENT POWERS All sums of cash belonging to the Charity other than sums needed for immediate working purposes are invested in Irusl for the Charity. The trustees determine the level of Income reserves required at their meetings held four limes a year. RISKS The charity is exposed lo fluclualions in the stock market. In selecting investments, the trustees follow advice given by Investec Weallh & Investment, subject lo their scrutiny of each quarterly report. ORGANISATIONAL STRUCTURE The Charity is presently managed by 7 trustees. The clerk to the Iruslees is responsible for the day-to-day running of the Charity and reports lo the trustees at each of 4 meelings held in the financial year. The trustees applied to have the scheme allered so Ihat the minimum number of trustees at any one lime can be five and the maximum eight. The paperwork to achieve this was executed and an online submission was made to the Charily Commission on 05.06.2014. APPOINTMENT OF TRUSTEES Trustees are chosen by personal knowledga of the current trustees from among members or former members of the Scout Association. The Gontinuing Irustees appoint the new trustee by resolution. ANNUAL REPORT The objects of the charity The objecls of the Charity are set out in the Scheme of 1994 as follows.. (al The income of the Endowment Fltnd and the income and property of the Expendable Fund shall be applied in furthering the aims of the Scout Association within the London Boroughs of Lambeth and Wandsworth., {bl The income of Ihe Endowment Fund not required to be expended as aforesaid shall form part of the Expendable Fund. The objects of the Charity as mentioned above are intended to cover Public Benefit as defined in the Charities Act 2011. Summary of pollcies adopted In order to further the charity's objects The trustees award grants to members of the Scout Association in the London Boroughs of Lambeth and Wandsworth to enable them to attend Scoul camps. Grants are also awarded to improve facilities at Scout camps and halls for Scout me81ings, and for training. The trustees receive granl applications and make decisions based on their local knowledge. Each trustee represents a different local district. In making grants, the trustees lake into account the Scout Association's Policy Rules and Regulations for Scouting. Achievements and performance During the year ended 31st December 2022 the trustees awarded grants tolalling £61,721.94. The stock and share portfolios overall have decreased from £3,089,411 to £2,733,584 2022., the Endowment Fund portfolio has decreased by 50/., the Expendable Fund has decreased by 150/0 and the Broome Fund has decreased by 15.76 %. Future plans The Irustees continue lo assist Scouting aclivilies in the London Boroughs of Lambeth and Wandsworth. There are no major plans at present. Income The total income received during the year was £63,998.83, and the total income expenditure was £70,350.26, plus capital expenditure of£29,955.83 making a lotal of £100.306.09. Review of transactions and financial position of the charity A loss of £27.85 was realised in the Endowment Fund, a loss of £19,520.00 was realised in the Expendable Fund and a loss of £37,639.26 was realised in the Broome fund during the year. Review of the financial statements for the year ending 31st December 2022 The trustees appointed Winckworth Shenmood LLP to prepare the financial stalements and report for the year ended 31st December 2022. The financial statements have been independently examined by Newton & Garner Ltd who have given an unqualified report. Trustees responsibilities The Charity trustees are responsible for preparing Ihe trustees, report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees lo prepare the Truslees, Annual Report and financial slalemenls for each financial year which give a true and fair view of the Charity's financial activities during the year and of ils financial position at the end of the year. In preparing financial slalements the trustees are required to.. Select suitable accounting policies and then apply them consistently. ObseNe the methods and principles in the Charities SORP. Make judgern8nts and estimates that are reasonable and prudent. (iv) State whether applicable accounting standards have been followed, subject to any material departures and explained in the financial statements. Prepare the financial statements on the going con￿rn basis unless it is inappropriate lo presume that the Charity will continue in operation. (v) The truslees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial slalemenls comply with the Charities Act 2011, Ihe Charity (accounts and reports) Regulations 2008 and the provisions of the Irusl deed. They are also responsible for safeguarding Ihe assel of the Charity and hence for taking reasonable steps for the prevention and detection of fraud a ther irregularities. Chri pher John Evans (Chair of trustees) ated THE ALEXANDER FUND ARe istered Charit No. 303765 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 THE ALEXANDER FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 CONTENTS PAGE REPORT TO THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER GENERAL INFORMATION FINANCIAL STATEMENTS Notes to Ihe Financial Statements Balance Sheet Slatement of Financial Activities Capital Account Income Account Schedule of Grants 10 Schedule of Creditors Schedule of Stocks and Shares 12-17 THE ALEXANDER FUND REPORT TO THE TRUSTEES We have prepared the financial statements set out on pages 5 10 17 from the records of the Trust maintained by the trustees and provided lo us. The total markel value of the securities was'.- '% INCREASEI DECREASE -5.05 % 31.12.2022 31.12.2021 £1,127,718 £1,187,722 £477,992 £562,680 £1,127,874 £1,339,009 Endowment Fund Expendable Fund Broome Expendable Fund -15.770 The income received was'.- % INCREASEI DECREASE -2.57 /. -5.26 /. 31.12.2022 £32.300 £16,208 £15,439 31.12.2021 £33.152 £17,108 £10,558 Endowment Fund Expendable Fund Broome Expendable Fund Under Section 145 {1) of the Charities Act 2011 the trustees may elecl either-_ (al to have the accounts examined by an independent examiner,. or Ibl lo have the accounts audited by a person qualified under the definition contained in Section 144 {2) of the said A¢t. The trustees have elecled to appoint Newton & Garner Ltd, chartered accountants, lo independently examine the accounts in accordance with the above provisions, and Ih8ir report is contained in these financial slatemenls. io DATED WINCKWORTH SHERWOOD LLP THE ALEXANDER FUND CHARITY NO. 303765 YEAR ENDED 31ST DECEMBER 2022 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE ALEXANDER FUND I report lo the trustees on my examination of the accounts of the above charity ('th8 Trust") for the year ended 31st De¢ember 2021, which are sel out on pages 5 to 17. Res onsibilities and basis of re ort As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.lhe Act"). report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and ir) carrying out my examination, I have followed all Ihe applicable Directions given by the Charity Commission under section 145(5llb) of the Act. Inde endent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the which gives me cause to believe that in, any material respect.. the accounting records were not kepl in accordance with section 130 of Ihe Charities Acl-, or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair. view which is not a matler considered as part of an independent examination. I have no concerns and have come across no olher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robert Knight FCCA ATII Newton & Garner Limited Chartered Accounlanls BUILDING 2 30 FRIERN PARK NORTH FINCHLEY LONDON N129DA DATE.. 13th October 2023 THE ALEXANDER FUND GENERAL INFORMATION DATE: 1st January 1964 GOVERNING INSTRUMENT.. Scheme regulated by the High Court (Chancery Division) of 20 January 1964, as varied by schemes of Ihe Charity Commissioners dated 20 July 1987 and 18 April 1994 ORIGINAL TRUSTEES: Not known PRESENT TRUSTEES.. Mrs Linda Hurford Miss Hannah Cramplon Christopher John Evans Mrs Gillian Willlams lan Malcolm Andrews Gary Raymond Cooper Gavin Crockell Ferguson Ms Rosemary Frances Merricks TRUST PERIOD: In perpetuity BENEFICIAL TERMS AND BENEFICIARIES- The income of the Endowment Fund and the income and property of the Expendable Fund shall be applied in furthering the aims of the Scout Association within the London Bomughs of Lambelh and Wandsworth. The income of the Endowment Fund not required lo b8 expended as aforesaid shall form part of the Expendable Fund. ADMINISTRATIVE TERMS: There shall be a minimum of 5 trustees. Continuing Iruslees shall appoint new Irustees by resolution. The Irnstees shall meet at least once every 3 months. CAPITAL AND INCOME TAX This is a charitable trust and thereby enjoys certain TREATMENT OF TRUST: taxallon privileges. Income Tax Income of the Alexander Fund is exempl so far as il is applied for charitable purposes. ital Gains Tax The Alexander Fund is exempt from CGT on gains 2pplied for charitable purposes. Inherllan¢e Tax Gifts to the Alexander Fund are generally exempl from IHT. SpeGSal rules apply to a charity in the form of a discretionary Irusl so that, provided the property is held THE ALEXANDER FUND GENERAL INFORMATION contd: for charitable purposes only, it is not relevant property" and there is no ten year anniversary charge under s64 IHTA 1984. SOLICITORS.. Winckworth Sherwood LLP Minerva HoLtse 5 Montague Close London SEI 9BB STOCKBROKERS.. Inveslec Wealth & Investment 30 Gresham Street London EC2V 7QN ANY OTHER INFORMATION: Keith Merrall the administrator does much of the day to day running of the Charity with help from the trustees. THE ALEXANDER FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2022 ACCOUNTING POLICIES Basis of Pre aration The financial statements have been prepared in accordance with Accounting and Reporting by ChaTilies: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20151- (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The trust conslilules a public benefit entity as defined by FRS 102. The Iruslees consider Ihal there are no malerial uncertainties about the trust's abilily to continue as a going concern. Reconciliation with revious Generall Acce led Accountin Practice In preparing the accounts the trustees have considered whether in applying Ihe accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatement has been required. Income Reco nition All income is recognised once the charity has enlillemenl lo the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. Interest on funds held on deposit is included when receivable and the amounl can be measured reliably by the charity, this is normally upon nolificalion of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investm8nt portfolio. enditure rec nilion Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity to that expenditure, il is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. 2. Inveslments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as al the balan￿ sheet date using the closing quoted market price. The statement of financial activities includes the nel gains and losses arising on revaluation and disposals throughout the year. The trust does not acquire put options. derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic condilions, the altitude of investors to investment risk, and Changes in sentiment concerning equities and within particular Sectors or sub sectors. Realised ains and losses All gains and 108ses are taken to the Slalement of Financial Activities as they arise. Realised gains and losses on investments a￿ calculaled as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculated as the difference belween the fair value al the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Slalemenl of Financial Activities 3. Grants Pa able The dislribulions are accounted for on the basis of actual payments made during the accounting period. {con￿nve￿I THE ALEXANDER FUND BALANCE SHEET AS AT 31ST DECEMBER 2022 31.12.2022 31.12.2021 Stocks and shares Endowment Fund Expendable Fund Broome Expendable Fund 1,127,718.00 477,992.00 1,127,874.00 1,187,722.00 562,680.00 1,339,009.00 Investec Wealth & Investment- balances held Endowment Fund Expendable Fund Broome Expendable Fund 1,142.55 1.394.46 3.291.66 3,251.65 2,502.39 2,741.41 Winckworth She￿ood client deposil account 44.372.63 65,203.00 Less creditors - per schedule on page 11 (6.360.24) (10,744.801 £2,777,425.06 £3,152.364.65 This is represented by'.- CAPITAL ACCOUNT {Page 8) 2,715,260.59 3,083,848.75 INCOME ACCOUNT (Page 9) 62,164.47 68.515.90 £2,777,425.06 £3,152,364.65 Weap the aGGounts of the Trust in respect of the period ended r 2022 as set out ages5to17. Ch er Chair of trustees) vans Dale THE ALEXANDER FUND STATEMENT OF FINANGIAL ACTIVITIES FOR THE YEAR ENDING 31ST DECEMBER 2022 2022 Ca 2022 Incom8 2022 Tolal Funds 2021 Total Funds Incom8 and Ex 8ndilur8 Incomin resourees Investment Income- Endowment Fund (Page 91 Inveslmenl income- Expendable Fund IPage 91 Inve5ttnenl inc0rn8- Broome Expendable FuThd 0.00 0.00 32.299.g9 16.208.27 32,299.99 16.208.27 33.151.93 17.107.64 (Paoe 91 Gross Intèrast 0.00 0.00 15.439.31 51.26 15.439.31 51.26 10.557.82 0.00 Total incoming resources Resour￿$ used Di18Ct charitable @x ndilur8 Di51ributions made Ischedulel Olher expendllure Adminislralion costs 0.00 63 998.83 63 998.83 60 817.39 0.00 0.00 29,955.83 61.721.94 1.188.32 7.440.00 61.721.94 1.188.32 37.395.83 18.938.04 1.253.63 41,457.71 Tolal r880ur¢es used Nel incomin oin for the ai nised alns and losses Other recokn_ Gains and losses on inveslments:_ R&alised Endowment Fund Expendable Fund Broomo ExpendatI8 Fund Unr•81ised Endowment Fund Expendable Fund Broome EXpenda￿e Fund 29,955.83 70.350.26 100.306.09 61,649.38 T8sourc&s 129,g55.831 {6.351.431 136.307.261 1831.991 127.851 {19.520.001 137,639.261 0.00 0.00 127.851 119,520.001 137,639.261 2.115.62 1480.001 1574.751 0.00 154.094.891 162.694.641 (164,655.691 0.00 0.00 0.00 154.094.891 162.694.641 1164,655.691 130.236.23 1.436.57 179,554.85 Net movement In funds Balances brought fO￿ard al 1st January 2022 Balances cariied forward 81 31st December 2022 1368.588.16) 16.351.431 1374,939.591 311,516.53 3.083,848.75 68,515.90 3,152,364.65 2,840,848.32 £2 715 260.59 £62 164.47 £2 777 425.06 £3 152 364.85 THE ALEXANDER FUND CAPITAL ACCOUNT YEAR ENDED 31ST DECEMBER 2022 31.12.2022 3,Q83,848.75 31.12.2021 2,803,417.94 Balance brought fO￿ard al 1st JanLtary 2022 Add:. Revaluation of stocks and shares Endowment Fund Expendable FLtnd Broome Expendable Fund (54,094.89) (62,694.641 (164,655.691 130,236.23 1,436.57 179,554.85 ProfiU(Loss) on sale of stock and shares Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund (Page 171 (27.85) (19,520.00) (37.639.26) 2,115.62 (480.00) (514.75) 2,745,216.42 3,115,766.46 Less:. Legal, accountancy, taxation and administration charges 6.200.00 7.950.00 VAT Ihereon 1.240.00 1.590.00 Disbursements 334.38 20.88 Secretarial fees 700.00 600.00 Newton & Garner independent examination fees 1.350.00 1,300.00 VAT thereon 270.00 260.00 Investec Wealth & Investment investmenl management charges 19.861.45 20,196.83 Balance carried foNard at 31st December 2022 £2,715,260.59 £3,083,848.75 THE ALEXANDER FUND INCOME ACCOUNT YEAR ENDED 31ST DECEMBER 2022 31.12.2022 68,515.90 31.12.2021 37,430.38 Balance brought foward al 1st January 2022 Dividends and interest Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund {Page 17) 32,299.99 16,208.27 15,439.31 33,151.93 17.107.64 10,557.62 Gross Interest 51.26 0.00 132.514.73 98.247.57 Less=_ Legal, 8c¢ountancy, laxalion and administration charges 6,200.00 7,950.00 VAT thereon 1,240.00 1.590.00 Grants (see page 10) 61,721.94 18,938.04 Dividends accumulated 0.00 65.31 Marsh Limited - Indemnity Insurance 1,188.32 1,188.32 Balance carried forward as at 31st December 2022 £62,164.47 £68,515.90 THE ALEXANDER FUND GRANTS YEAR ENDED 31ST DECEMBER 2022 1 sl Balham Air Scouts 15th Lambelh Scout Group 15th Lambelh Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group Lambelh District Scout Council Lambelh District Scout Council Lambelh District Scout Council 4th Balham & Tooting Scout Group 4th Balham & Tooting Scout Group 4th Slrealham Scout Group 4th Slreatham Scout Group 4th Strealham Scout Group 4th Streatham Scout Group 4th Streatham Scout Group 4th Strealham Scout Group 19th Clapham Scout Group 19th Clapham Scout Group 2nd Streatham Hill Scout Group 2nd Streatham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slreatham Hill Scout Group 9th Soulhside Scout Group 9th Sotslhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 8th Lambeth Scout Group 8th Lambeth Scout Group 8th Lambeth Swul Group 8th Lambelh Scout Group 8th Lambeth Scout Group 8th Lambelh Scout Group 8th Lambelh Scout Group 8th Lambelh Scout Group 286.00 120.00 587.00 677.82 741.07 1,424.85 850.00 1,135.00 442.83 60.00 1,000.00 2,595.55 4,006.71 131.42 865.25 3.760.37 424.24 949.51 949.51 675.00 792.50 858.19 517.17 634.47 75.00 246.60 616.12 689.14 1.144.21 213.15 1,159.51 194.00 306.00 298.50 4,000.00 1,002.58 24.00 149.32 305.75 12.00 27.50 85.00 30. 22nd Streatham Scoul Group 22nd Strealham Scout Group 32nd Strealham St. Balholomews Scout Group 32nd Strealham St. Balholomew's Scout Group 32nd Strealham St. Balholomews Scout Group 12114th Batlersea Westside Scout Group 121141h Batlersea Westside Scout Group 12114th Batlersea Westside Scout Group 16th Batlersea Sea Scout Group 16th Batlersea Sea Scout Group 16th Batlersea Sea Scout Group 1st Streatham Common Scout Group 1 st Slreatham Common Scout Group 1st Slreatham Common Scout Group Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council 2nd Wandsworth Scout Group 8th Wandsworth Scout Group 8th Wandsworth Scout Group Orion Explorer Unit 19th Clapham Scouts Group 4th South Lambeth Scout Group Mercury Explorer Unil Mercury Explorer Unil Earthart Explorers Unil 305.75 2,627.61 292.28 723.52 12.00 857.03 459.51 1.144.21 905.33 163.63 111.37 128.48 24.00 112.50 95.00 5,531.63 4,800.00 1,838.92 535.00 1,227.50 500.00 557.74 721.72 167.50 1.223.43 1.325.80 297.64 Total £61,721.94 10 Continued - THE ALEXANDER FUND SCHEDULE OF CREDITORS AS AT 31ST DECEMBER 2022 31.12.2022 31.12.2021 Ne￿on & Garner audit fees 1,350.00 1.300.00 VAT thereon 270.00 260.00 Legal, aGwuntancy. taxation and administration charges 3.950.00 7.650.00 VAT thereon 790.00 1.530.00 Disbursements (including VAT) 0.24 4.80 £6.360.24 £10,744.80 11 trOOO I I I ao IL2Q rL o al uo 1 14 00 O*N li lllai !' £4¢y 00 000- o(ri tyNC4r oo 8 S ££ 'T'T'TTT'T-'I '1 (¢J ? Iii il I, 1:11 i ow Jo >m >0 Omr (0 (OJ(O mLU ￿(Stu LLLU ?W oots ov>0 ¥45# -.¥a!% yy I i! OVQQQQ 888 JO 111 1. 15 11 O r* THE ALEXANDER FUND ARe istered Charit No. 303765 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 THE ALEXANDER FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022 CONTENTS PAGE REPORT TO THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER GENERAL INFORMATION FINANCIAL STATEMENTS Notes to Ihe Financial Statements Balance Sheet Slatement of Financial Activities Capital Account Income Account Schedule of Grants 10 Schedule of Creditors Schedule of Stocks and Shares 12-17 THE ALEXANDER FUND REPORT TO THE TRUSTEES We have prepared the financial statements set out on pages 5 10 17 from the records of the Trust maintained by the trustees and provided lo us. The total markel value of the securities was'.- '% INCREASEI DECREASE -5.05 % 31.12.2022 31.12.2021 £1,127,718 £1,187,722 £477,992 £562,680 £1,127,874 £1,339,009 Endowment Fund Expendable Fund Broome Expendable Fund -15.770 The income received was'.- % INCREASEI DECREASE -2.57 /. -5.26 /. 31.12.2022 £32.300 £16,208 £15,439 31.12.2021 £33.152 £17,108 £10,558 Endowment Fund Expendable Fund Broome Expendable Fund Under Section 145 {1) of the Charities Act 2011 the trustees may elecl either-_ (al to have the accounts examined by an independent examiner,. or Ibl lo have the accounts audited by a person qualified under the definition contained in Section 144 {2) of the said A¢t. The trustees have elecled to appoint Newton & Garner Ltd, chartered accountants, lo independently examine the accounts in accordance with the above provisions, and Ih8ir report is contained in these financial slatemenls. io DATED WINCKWORTH SHERWOOD LLP THE ALEXANDER FUND CHARITY NO. 303765 YEAR ENDED 31ST DECEMBER 2022 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE ALEXANDER FUND I report lo the trustees on my examination of the accounts of the above charity ('th8 Trust") for the year ended 31st De¢ember 2021, which are sel out on pages 5 to 17. Res onsibilities and basis of re ort As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111.lhe Act"). report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and ir) carrying out my examination, I have followed all Ihe applicable Directions given by the Charity Commission under section 145(5llb) of the Act. Inde endent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the which gives me cause to believe that in, any material respect.. the accounting records were not kepl in accordance with section 130 of Ihe Charities Acl-, or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair. view which is not a matler considered as part of an independent examination. I have no concerns and have come across no olher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robert Knight FCCA ATII Newton & Garner Limited Chartered Accounlanls BUILDING 2 30 FRIERN PARK NORTH FINCHLEY LONDON N129DA DATE.. 13th October 2023 THE ALEXANDER FUND GENERAL INFORMATION DATE: 1st January 1964 GOVERNING INSTRUMENT.. Scheme regulated by the High Court (Chancery Division) of 20 January 1964, as varied by schemes of Ihe Charity Commissioners dated 20 July 1987 and 18 April 1994 ORIGINAL TRUSTEES: Not known PRESENT TRUSTEES.. Mrs Linda Hurford Miss Hannah Cramplon Christopher John Evans Mrs Gillian Willlams lan Malcolm Andrews Gary Raymond Cooper Gavin Crockell Ferguson Ms Rosemary Frances Merricks TRUST PERIOD: In perpetuity BENEFICIAL TERMS AND BENEFICIARIES- The income of the Endowment Fund and the income and property of the Expendable Fund shall be applied in furthering the aims of the Scout Association within the London Bomughs of Lambelh and Wandsworth. The income of the Endowment Fund not required lo b8 expended as aforesaid shall form part of the Expendable Fund. ADMINISTRATIVE TERMS: There shall be a minimum of 5 trustees. Continuing Iruslees shall appoint new Irustees by resolution. The Irnstees shall meet at least once every 3 months. CAPITAL AND INCOME TAX This is a charitable trust and thereby enjoys certain TREATMENT OF TRUST: taxallon privileges. Income Tax Income of the Alexander Fund is exempl so far as il is applied for charitable purposes. ital Gains Tax The Alexander Fund is exempt from CGT on gains 2pplied for charitable purposes. Inherllan¢e Tax Gifts to the Alexander Fund are generally exempl from IHT. SpeGSal rules apply to a charity in the form of a discretionary Irusl so that, provided the property is held THE ALEXANDER FUND GENERAL INFORMATION contd: for charitable purposes only, it is not relevant property" and there is no ten year anniversary charge under s64 IHTA 1984. SOLICITORS.. Winckworth Sherwood LLP Minerva HoLtse 5 Montague Close London SEI 9BB STOCKBROKERS.. Inveslec Wealth & Investment 30 Gresham Street London EC2V 7QN ANY OTHER INFORMATION: Keith Merrall the administrator does much of the day to day running of the Charity with help from the trustees. THE ALEXANDER FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2022 ACCOUNTING POLICIES Basis of Pre aration The financial statements have been prepared in accordance with Accounting and Reporting by ChaTilies: Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 20151- (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). The trust conslilules a public benefit entity as defined by FRS 102. The Iruslees consider Ihal there are no malerial uncertainties about the trust's abilily to continue as a going concern. Reconciliation with revious Generall Acce led Accountin Practice In preparing the accounts the trustees have considered whether in applying Ihe accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatement has been required. Income Reco nition All income is recognised once the charity has enlillemenl lo the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. Interest on funds held on deposit is included when receivable and the amounl can be measured reliably by the charity, this is normally upon nolificalion of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investm8nt portfolio. enditure rec nilion Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity to that expenditure, il is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. 2. Inveslments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as al the balan￿ sheet date using the closing quoted market price. The statement of financial activities includes the nel gains and losses arising on revaluation and disposals throughout the year. The trust does not acquire put options. derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic condilions, the altitude of investors to investment risk, and Changes in sentiment concerning equities and within particular Sectors or sub sectors. Realised ains and losses All gains and 108ses are taken to the Slalement of Financial Activities as they arise. Realised gains and losses on investments a￿ calculaled as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the first day of the financial year. Unrealised gains and losses are calculated as the difference belween the fair value al the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Slalemenl of Financial Activities 3. Grants Pa able The dislribulions are accounted for on the basis of actual payments made during the accounting period. {con￿nve￿I THE ALEXANDER FUND BALANCE SHEET AS AT 31ST DECEMBER 2022 31.12.2022 31.12.2021 Stocks and shares Endowment Fund Expendable Fund Broome Expendable Fund 1,127,718.00 477,992.00 1,127,874.00 1,187,722.00 562,680.00 1,339,009.00 Investec Wealth & Investment- balances held Endowment Fund Expendable Fund Broome Expendable Fund 1,142.55 1.394.46 3.291.66 3,251.65 2,502.39 2,741.41 Winckworth She￿ood client deposil account 44.372.63 65,203.00 Less creditors - per schedule on page 11 (6.360.24) (10,744.801 £2,777,425.06 £3,152.364.65 This is represented by'.- CAPITAL ACCOUNT {Page 8) 2,715,260.59 3,083,848.75 INCOME ACCOUNT (Page 9) 62,164.47 68.515.90 £2,777,425.06 £3,152,364.65 Weap the aGGounts of the Trust in respect of the period ended r 2022 as set out ages5to17. Ch er Chair of trustees) vans Dale THE ALEXANDER FUND STATEMENT OF FINANGIAL ACTIVITIES FOR THE YEAR ENDING 31ST DECEMBER 2022 2022 Ca 2022 Incom8 2022 Tolal Funds 2021 Total Funds Incom8 and Ex 8ndilur8 Incomin resourees Investment Income- Endowment Fund (Page 91 Inveslmenl income- Expendable Fund IPage 91 Inve5ttnenl inc0rn8- Broome Expendable FuThd 0.00 0.00 32.299.g9 16.208.27 32,299.99 16.208.27 33.151.93 17.107.64 (Paoe 91 Gross Intèrast 0.00 0.00 15.439.31 51.26 15.439.31 51.26 10.557.82 0.00 Total incoming resources Resour￿$ used Di18Ct charitable @x ndilur8 Di51ributions made Ischedulel Olher expendllure Adminislralion costs 0.00 63 998.83 63 998.83 60 817.39 0.00 0.00 29,955.83 61.721.94 1.188.32 7.440.00 61.721.94 1.188.32 37.395.83 18.938.04 1.253.63 41,457.71 Tolal r880ur¢es used Nel incomin oin for the ai nised alns and losses Other recokn_ Gains and losses on inveslments:_ R&alised Endowment Fund Expendable Fund Broomo ExpendatI8 Fund Unr•81ised Endowment Fund Expendable Fund Broome EXpenda￿e Fund 29,955.83 70.350.26 100.306.09 61,649.38 T8sourc&s 129,g55.831 {6.351.431 136.307.261 1831.991 127.851 {19.520.001 137,639.261 0.00 0.00 127.851 119,520.001 137,639.261 2.115.62 1480.001 1574.751 0.00 154.094.891 162.694.641 (164,655.691 0.00 0.00 0.00 154.094.891 162.694.641 1164,655.691 130.236.23 1.436.57 179,554.85 Net movement In funds Balances brought fO￿ard al 1st January 2022 Balances cariied forward 81 31st December 2022 1368.588.16) 16.351.431 1374,939.591 311,516.53 3.083,848.75 68,515.90 3,152,364.65 2,840,848.32 £2 715 260.59 £62 164.47 £2 777 425.06 £3 152 364.85 THE ALEXANDER FUND CAPITAL ACCOUNT YEAR ENDED 31ST DECEMBER 2022 31.12.2022 3,Q83,848.75 31.12.2021 2,803,417.94 Balance brought fO￿ard al 1st JanLtary 2022 Add:. Revaluation of stocks and shares Endowment Fund Expendable FLtnd Broome Expendable Fund (54,094.89) (62,694.641 (164,655.691 130,236.23 1,436.57 179,554.85 ProfiU(Loss) on sale of stock and shares Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund (Page 171 (27.85) (19,520.00) (37.639.26) 2,115.62 (480.00) (514.75) 2,745,216.42 3,115,766.46 Less:. Legal, accountancy, taxation and administration charges 6.200.00 7.950.00 VAT Ihereon 1.240.00 1.590.00 Disbursements 334.38 20.88 Secretarial fees 700.00 600.00 Newton & Garner independent examination fees 1.350.00 1,300.00 VAT thereon 270.00 260.00 Investec Wealth & Investment investmenl management charges 19.861.45 20,196.83 Balance carried foNard at 31st December 2022 £2,715,260.59 £3,083,848.75 THE ALEXANDER FUND INCOME ACCOUNT YEAR ENDED 31ST DECEMBER 2022 31.12.2022 68,515.90 31.12.2021 37,430.38 Balance brought foward al 1st January 2022 Dividends and interest Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund {Page 17) 32,299.99 16,208.27 15,439.31 33,151.93 17.107.64 10,557.62 Gross Interest 51.26 0.00 132.514.73 98.247.57 Less=_ Legal, 8c¢ountancy, laxalion and administration charges 6,200.00 7,950.00 VAT thereon 1,240.00 1.590.00 Grants (see page 10) 61,721.94 18,938.04 Dividends accumulated 0.00 65.31 Marsh Limited - Indemnity Insurance 1,188.32 1,188.32 Balance carried forward as at 31st December 2022 £62,164.47 £68,515.90 THE ALEXANDER FUND GRANTS YEAR ENDED 31ST DECEMBER 2022 1 sl Balham Air Scouts 15th Lambelh Scout Group 15th Lambelh Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group Lambelh District Scout Council Lambelh District Scout Council Lambelh District Scout Council 4th Balham & Tooting Scout Group 4th Balham & Tooting Scout Group 4th Slrealham Scout Group 4th Slreatham Scout Group 4th Strealham Scout Group 4th Streatham Scout Group 4th Streatham Scout Group 4th Strealham Scout Group 19th Clapham Scout Group 19th Clapham Scout Group 2nd Streatham Hill Scout Group 2nd Streatham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slrealham Hill Scout Group 2nd Slreatham Hill Scout Group 9th Soulhside Scout Group 9th Sotslhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 9th Soulhside Scout Group 8th Lambeth Scout Group 8th Lambeth Scout Group 8th Lambeth Swul Group 8th Lambelh Scout Group 8th Lambeth Scout Group 8th Lambelh Scout Group 8th Lambelh Scout Group 8th Lambelh Scout Group 286.00 120.00 587.00 677.82 741.07 1,424.85 850.00 1,135.00 442.83 60.00 1,000.00 2,595.55 4,006.71 131.42 865.25 3.760.37 424.24 949.51 949.51 675.00 792.50 858.19 517.17 634.47 75.00 246.60 616.12 689.14 1.144.21 213.15 1,159.51 194.00 306.00 298.50 4,000.00 1,002.58 24.00 149.32 305.75 12.00 27.50 85.00 30. 22nd Streatham Scoul Group 22nd Strealham Scout Group 32nd Strealham St. Balholomews Scout Group 32nd Strealham St. Balholomew's Scout Group 32nd Strealham St. Balholomews Scout Group 12114th Batlersea Westside Scout Group 121141h Batlersea Westside Scout Group 12114th Batlersea Westside Scout Group 16th Batlersea Sea Scout Group 16th Batlersea Sea Scout Group 16th Batlersea Sea Scout Group 1st Streatham Common Scout Group 1 st Slreatham Common Scout Group 1st Slreatham Common Scout Group Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council 2nd Wandsworth Scout Group 8th Wandsworth Scout Group 8th Wandsworth Scout Group Orion Explorer Unit 19th Clapham Scouts Group 4th South Lambeth Scout Group Mercury Explorer Unil Mercury Explorer Unil Earthart Explorers Unil 305.75 2,627.61 292.28 723.52 12.00 857.03 459.51 1.144.21 905.33 163.63 111.37 128.48 24.00 112.50 95.00 5,531.63 4,800.00 1,838.92 535.00 1,227.50 500.00 557.74 721.72 167.50 1.223.43 1.325.80 297.64 Total £61,721.94 10 Continued - THE ALEXANDER FUND SCHEDULE OF CREDITORS AS AT 31ST DECEMBER 2022 31.12.2022 31.12.2021 Ne￿on & Garner audit fees 1,350.00 1.300.00 VAT thereon 270.00 260.00 Legal, aGwuntancy. taxation and administration charges 3.950.00 7.650.00 VAT thereon 790.00 1.530.00 Disbursements (including VAT) 0.24 4.80 £6.360.24 £10,744.80 11 trOOO I I I ao IL2Q rL o al uo 1 14 00 O*N li lllai !' £4¢y 00 000- o(ri tyNC4r oo 8 S ££ 'T'T'TTT'T-'I '1 (¢J ? 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