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||**Pages**|
|---|---|
|Directors, officers and advisers|1|
|Directors’ report|2-6|
|Auditors’report|7 - 10|
|Statement of financial activities|11|
|Income and expenditure account|12|
|Balance sheet|13|
|Notes to the financial statements|14 - 19|





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|**Directors**|H R A Anderson|(Chairman)|
|---|---|---|
|**and Trustees**|D T A Boyle||
||RAD Cowlin||
||Mrs Deborah Reed||
||B Salmon||
||Ms Moira Usher||
||Ms Deborah Hollister||
|**Secretary**|Mrs Verity Barclay||
|**Registered Office**|820 The Crescent||
||Colchester Business Park||
||Colchester||
||Essex||
||C049YQ||
|**Registered Number**|Company 00183411||
||Charity<br>310038||
|**Auditors**|Scrutton Bland LLP||
||820 The Crescent||
||Colchester Business Park||
||Colchester||
||Essex||
||C049YQ||
|**Bankers**|CAF Bank Ltd||
||25 Kings Hill Avenue||
||Kings Hill||
||West Mailing||
||Kent ME19 4JQ||
|**Solicitors**|Birkett Long LLP||
||Faviell House||
||1 Coval Wells||
||Chelmsford||
||Essex||
||CM1 1WZ||
|**Investment Advisers**|Investec Wealth and Investment Limited||
||30 Gresham Street||
||London||
||EC2V 7QN||





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||£|
|---|---|
|The Clare School|23,630|
|Accuro|7,500|
|The Gifted|10,000|
|Able Kidz|5,000|
|Grove Cottage|9,370|
|Castledon School|5,000|
|Grove Cottage|5,000|
||£65,500|





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||**£**|
|---|---|
|St Helena School, Colchester|7,889|
|Stowmarket School|23,998|
|The Mix, Stowmarket|25,418|
|St Edmundsbury and Ipswich MAT|77,903|



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|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
||**Notes **|**funds**|**funds**|
|||2022|**2021**|
|||£|£|
|**Income**||||
|Income from investments||66,616|108,761|
|**Total income**||**66,616**|108,761|
|**Expenditure**||||
|Grants payable in furtherance of the Charity’s objects|**8**|**188,453**|130,030|
|Cost of grant making|9|**3,979**|3,551|
|Management and administration costs|**10**|**68,398**|313,529|
|**Total expenditure**||**260,830**|447,110|
|Net realised and unrealised investment gains/(losses)||**374,922**|1,541,260|
|**Net movement in funds**|3|**180,708**|1,202,911|
|**Total funds brought forward at 1 April 2021**||**5,414,701**|4,211,790|
|**Total funds carried forward at 31 March 2022**||**5,595,409**|5,414,701|





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||**Note**|||
|---|---|---|---|
|||**2022**|**2021**|
|||**£**|**£**|
|**Gross income**||**66,616**|108,761|
|**Total expenditure**||**260,830**|447,110|
|**Net expenditure before fixed asset disposal**||**(194,214)**|(338,349)|
|**Realised profit on sale of investments**||**83,576**|269,041|
|**Net expenditure for the financial year**|3|**£(110,638)**|£(69,308)|



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||**Notes**|||
|---|---|---|---|
|||**2022**|**2021**|
|||£|£|
|**Fixed assets**||||
|Investment properties|4|**103,500**|103,500|
|Other investments|5|**5,483,649**|5,119,312|
|||**5,587,149**|5,222,812|
|**Current assets**||||
|Debtors|6|**526**|564|
|Cash at bank and in hand||**329,781**|598,841|
|||**330,307**|599,405|
|**Creditors: amounts falling due**||||
|**within one year**|7|**(322,047)**|(407,516)|
|**Net current assets**||**8,260**|191,889|
|**Total net assets**||**£5,595,409**|£5,414,701|
|**Funds**||||
|Unrestricted funds - includes revaluation reserve of||||
|£2,097,205 (2021 : £ 2,087,280)|11|**£5,595,409**|£5,414,701|






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|||**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
||Auditors’ remuneration: in respect of audit services|**4,563**|3,719|
|**4 **|**FIXED ASSETS - INVESTMENT PROPERTIES**|||



||**Investment**|
|---|---|
||**property**|
||**£**|
|**Cost or valuation**||
|At 1 April 2021|**103,500**|
|Valuation at 31 March 2022|**103,500**|
|**Net book values**||
|At 31 March 2022|**103,500**|
|At 31 March 2021|**£ 103,500**|





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||**2022**|**2021**|
|---|---|---|
||£|£|
|Listed investments:|||
|Market value at 1 April|**5,119,312**|3,619,962|
|Additions|**702,680**|1,321,591|
|Disposals|**(629,689)**|(1,094,460)|
|Net unrealised investment gains|**291,346**|1,272,219|
|Market value of listed investments at 31 March|**£5,483,649**|£5,119,312|
|Historical cost at 31 March|**£3,482,694**|£3,128,282|
||**2022**|**2021**|
||£|£|
|Listed investments at market value consist of the following:|||
|**UK equities**|||
|Aberforth Smaller Companies Investment Trust|-|378,994|
|**International equities**|||
|Herald Investment Trust|**529,932**|662,400|
|Scottish Mortgage Investment Trust|**1,041,903**|1,347,345|
|Witan Investment Trust|**459,500**|452,000|
|Fundsmith|**1,244,790**|1,013,720|
|HG Capital|**592,209**|319,750|
|Blackrock World Mining Trust|**517,824**||
|**Property**|||
|The Charities Property Fund|**1,097,491**|945,103|
||**£5,483,649**|£5,119,312|
|**DEBTORS**|||
||**2022**|**2021**|
|Prepayments|**£526**|£ 564|





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||**2022**|**2021**|
|---|---|---|
||£|£|
|Other creditors|**142,047**|**227,516**|
|Government grants|**180,000**|**180,000**|
||**£322,047**|**£407,516**|



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||**2022**|**2021**|
|---|---|---|
|Consultancy and travel expenses in relation|||
|to grants payable|**£3,979**|£3,551|
|**MANAGEMENT AND ADMINISTRATION COSTS**|||
||**2022**|**2021**|
||£|£|
|Legal and professional fees and related claims|**66,826**|311,935|
|Bank charges and interest|**110**|97|
|Office costs|**1,462**|1,497|
||**£68,398**|£ 313,529|



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||**1 April**|**Other**|**31 March**|
|---|---|---|---|
||**2021**|**movements**|**2022**|
|**£ **|**5,414,701**|**£180,708**|**£5,595,409**|





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||2022|**2021**|
|---|---|---|
|**Financial assets**|||
|Financial assets measured at fair value|**£5,483,649**|£5,119,312|
||2022|**2021**|
|**Financial liabilities**|||
|Financial liabilities measured at amortised cost|**£322,047**|£407,516|