2023-03-31-accounts

		Page No
Report ofthe Managing	Trustees	1-8
Auditor's Report
Statement of Financial	Activities	12
Balance Sheet		13
Notes to the Accounts		14-22

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31March 2	023
			Notes	2023	2022
				f
Fixed assets
Tangible assets				357	421
Investments				4,325,784	4,971,738
				4,326,141	4,972,159
Current assets
Cash at bank and		in	hand	12,750	43,776
				12,750	43,776
Creditors: amounts			falling due within
one year			6	(193,456)	(191,375)
Net current	liabilities			(180,706)	(147,599)
Total assets less		current liabilities		4,145,'l35	4,824,560
Creditors: amounts		falling due after more
than one year			7	(349,424)	(509,148)
Net assets				3796011	4313412
Funds
Endowment	Fund		10	1,313,521	1,500,000
Designated Fund			10	158,861
Income Fund			10	2323629	2,815,412
				3796011	4313412
Approved on	103uly		2023
				- Managing Trustee
				Canon PB Maxwell
				Managing Trustee
				Mrs jM Eccleston
				- Managing Trustee
				Mrs A3 Kenna

2	Investment	Income	2023	2022
				E
	Dividend Income		134,089	138,658
	Bank Interest			6
	Rental Income		10,542	10,542
			144,715	149,206

Total expenditure
				*Charitable		activities *
			Raising	Grant	Support		Governance
			funds	funding		costs	costs	2023	2022
			E	E		E	E	6	E
Investment management		costs	32,723					32,723	38,069
Grants				42,500				42,500	21,958
Keswick Park						1,500		1,500	5,900
Low Road Expenses						1,031		1,031	16,486
Insurance						771		771	715
Sundry expenses						600		600
Depreciation								64	74
Bank Charges						113		113	93
Finance costs					15,276			15,276	18,468
Copy/Post/Computer	Services						956	956	1,337
Executive Officer's	expenses						772	772	343
Executive Officer's	Charge						11,437	11,437	9,525
Managing Trustees'	travel						685	685	345
Managing Trustees'	meetings						204	204	961
Audit							4,998	4,998	5,216
Accountancy							5,200	5,200	5,200
Subscriptions							453	453	411
			32,723	42,500	19,355		24,705	119,283	125,101

and a grant of	E15,000 to Synergy MAT payable over 3 fiscal years.
		2023	2022
Auditor's remuneration		E	E
Audit - current	year	5,000	5,000
Audit - previous	year	(2)	216
		4,998	5,216

ea	r ended	31March 2023	31March 2023
4	Tangible	fixed assets
						Computer
						equipment
						2023
	Cost
	At 1 April	2022 and 31 March 2023				3,742
	Disposals					(3,019)
	At 31 March 2023					723
	Depreciation
	At 1 April	2022				(3,321)
	Charge for the year					(64)
	Eliminated	on disposal				3,019
	At 31 March 2023					(366)
	Net book	value at 31 March 2023				357
	Net book	value at 31 March 2022				421
	All fixed assets are for the Charity's			own use.
5	Investments
					2023	2022
					6
	Investment properties				445,000	295,000
	Securities				3,880,784	4,676,738
					4,325,784	4,971,738
	Investment properties
					2023f	2022 6
	59 Low Road Keswick		(original cost	630,800)
		At 1 April 2022			95,000	95,000
		Revaluation			70,000
		At 31 March	2023		165,000	95,000
	Pasture land adjoining		Keswick Hall	(original cost 628,750)
		At 1 April 2022			200,000	200,000
		Revaluation			80,000
		At 31 March	2023		280,000	200,000
					445,000	295,000

Notes to the accounts	Notes to the accounts
Year ended 31March		2023
5 Investments [continued]
							2023	2022
								6
Securities
Market value at	1 April 2022						4,676,738	4,672,203
Additions							375,573	7,046
Disposal proceeds							(476,694)	(150,896)
							4,575,617	4,528,353
Unrealised (losses)/gains							(694,833)	148,385
Market value at3IMarch					2023		3,880,784	4,676,738
6 Creditors: amounts		due	within one year				2023	2022
								6
Trade creditors							81
Accruals							5,000	8,000
Deferred income	(note 8)						3,375	3,375
Grants committed	-	Diocesan			RE advisers (note 9)		180,000	180,000
Grants committed	-	Synergy		MAT (note 9)			5,000
							193,456	191,375
7 Creditors: amounts		due	after more than one year				2023f	2022 E
Long Term Grant	Commitment				for Diocesan	RE advisers (note 9)	344,424	509,148
Long Term Grant	Commitment				for Synergy	MAT (note 9)	5,000
							349,424	509,148
8 Deferred income							2023	2022
Deferred income	brought		forward				3,375	3,375
Released during	the	year					(3,375)	(3,375)
Deferred during	the	year					3,375	3,375
Deferred income	carried forward						3,375	3,375

9	Grant com	m	itments
						Commitments	Increase in			Commitments
					brought forward		commitments		Payments	carried forward
						at 1.4.22	less variations		in year	at31.3.23
	Grants					3,000		42,500	(35,500)	10,000
	Diocesan RE		advisers			689,148		15,276	(180,000)	524,424
						692,148		57~776	(215(500)	534,424
10	Funds			Balance at			Transfers		Gains/	Balance at
	2023			1.4.22f	Income f	Expenditure f	between	funds f	(losses) f	31.3.23 f
	Endowment		Fund	1,500,000	47,249	(10,577)			(223,151)	1,313,521
	Designated	Funds:
	Keswick	Park		850	6,750	(1,500)			80,000	86,100
	Low Road				3,792	(1,031)			70,000	72,761
	Unrestricted		Income Fund	2,814,562	86,924	(106,175)			(471,682)	2,323,629
	Totalfunds			4,315,412	144,715	(119,283)			(544,833)	3,796,011
	Funds			Balance at			Transfers		Gains/	Balance at
	2022			1.4.21f	Income f	Expenditure f	between	funds f	(losses)f	31.3.22f
	Endowment		Fund	1,500,000	47,989 (12,368)		(117,479)		81,858	1,500,000
	Designated	Funds:
	Keswick	Park			6,750	(5,900)				850
	Low Road				3,792	(16,486)		12,694
	Unrestricted		Income Fund	2,642,921	90,675	(90,347)		104,785	66,527	2,814,562
	Totalfunds			4,142,921	149,206	125,101			148,385	4,315,412

1	1	Analysis o	fnet assets between fund	s
		2023		Unrestrictedf	Designated	f.	Endowment f	Totaif
		Fixed assets		357				357
		Investments		2,853,402	158,861		1,313,521	4,325,784
		Net current	liabilities	(180,706)				(180,706)
		Long term liabilities		(349,424)				) (349,424
				2,323,629	158,861		1,313,521	3,796,011
				Unrestrictedf	Designated	f	Endowment f	Totalf
		Fixed assets		421				421
		Investments		3,471,738			1,500,000	4,971,738
		Net current	liabilities	(148,449)	850			(147,599)
		Long term liabilities		(509,148)				(509,148)
19	I	Page		2,814,562	850		1,500,000	4,315,412

13 Financial instruments
The carrying amounts ofthe charity's		financial	instruments	are	as follows:	2023	2022
						E
Financial assets
Measured at fair value through	net income;					3,880,784	4,676,738
Fixed asset listed investments	(note 5)
14 Total return investment						Unapplied
					Endowment	Total Return	Total
						E	E
At start of accounting period:
Trust for permanent endowment					733,000		733,000
Unapplied total return						767,000	767,000
Movements in the accounting period:
Investment return (dividends,	interest)					47,249	47,249
Investment return (gains/losses)						(223,151)	(223,151)
Less investment management	costs					(10,577)	(10,577)
Unapplied total return allocated to	income
Net movements in the accounting	period					(186,479)	(186,479)
At end of accounting period:
Trust for investment/permanent	endowment				733,000		733,000
Unapplied total return						580,521	580,521
					733,000	580,521	1,313,521
Held as follows:
Deposit account							1,297,424
Stock account							16,097
							1,313,521

As at 31st March	2	023
								2023	2022
Income								E
Investment income	on 3 M Finn BrCo portfolio							134,089	138,658
Rents								3,792	3,792
Keswick Park Tenancy								6,750	6,750
Barclays Bank Saver	Account Interest							84	6
								144,715	149,206
Expenditure
Costs ofgenerating		funds
Investment management			costs	- Restricted	Fund			10,577	25,701
				- Unrestricted		Fund		22,146	12,368
Grants payable
Grants								42,500	21,448
Keswick Hall Lecture		Grant							510
Support costs
Low Road Expenses								1,031	16,486
Keswick Park Maintenance								1,500	5,900
Copy/Post/Computer		Supplies/Software/Website						956	1,252
Insurance								771	715
Sundry expenses								600	85
Bank Charges								114	93
Governance costs
Executive Officer's Expenses								772	343
Executive Officer's Charge								11,437	9,525
Managing Trustees'	Travel							685	345
Managing Trustees'	Meetings							203	961
Audit Br Review								4,998	5,216
Accountancy								5,200	5,200
Depreciation								64	74
Subscriptions								453	411
Finance Cost								15,276	18,468
								119,283	125,101
Net income for the investments		year before gains/(losses)					on	25,432	24,105