## |||Page No| |---|---|---| |Report ofthe Managing|Trustees|1-8| |Auditor's
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f- f- a||| ## ## |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|