2022-04-05-accounts - Marc Fitch Fund

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				Unrestricted	Unrestricted
				funds	funds
				general	general
				2022	2021
Dividends	on equities			191,669	191,181
Property	income distribution			6,688	4,831
Interest from fixed interest securities				24,317	17,517
Income from Charities		Property	Fund	21,090	20,109
Interest receivable				206	174
				243,970	233,812

							Research	Research
							and	and
							publication	publication
							2022	2021
							f	f
	Grant funding ofactivities (see note 7)						102,605	52,803
	Share ofsupport costs (see		note 8)				28,175	28,200
	Share ofgovernance	costs (see note 8)					10,203	8,929
							140,983	89,932
7	Grants payable
							2022	2021
							f
	To Institutions						80,898	47,716
	To Individuals						30,090	22,368
							110,988	70,084
	Adjustments and grants not taken up						(8,383)	(17,281)
							102,605	52,803
	Reconciliation ofmovements		on funding	commitments:			2022	2021f
	Grant creditors at start	ofyear					91,562	169,106
	Charged to expenses	in year	(as above)				102,605	52,803
	Payments made						(108,750)	(130,347)
	Grant creditors at end	ofyear
							85,417	91,562
	During the year the following		grants were	awarded		to
	Institutions:
							2022f	2021
	Moel-y-Gar hillfort excavation		report				1,000
	Hadrian's Wall Cultural	Resource Management			2022		1,200
	Economic History chapter ofVCH Wilts Vol 20:				Chippenham		3,000

Grants payable									(Continued)
The Guild Book ofthe Barbers and Surgeons ofYork								500
The Visitation of Hereford Diocese in 1397								533
Coventry Historical Map								2,615
Patrick Gwynne								500
Radar in Scotland 1938-46								1,600
Neolithic Stone Extraction								1,400
Fragments ofBronze								750
Place-names of Carmarthenshire								2,000
Frisians ofthe Early Middle Ages								500
Anglo-Saxon Charters ofWorcester Cathedral								27,500
The Buildings ofEngland: Staffordshire								7,000
Wiltshire Non-conformist Chapels and Meeting			Houses					1,000
Town and country: perspectives from the Irish Historic Towns Atlas								4,000
Creating Constable								1,000
Book Owners Online								24,800
The Bear Garden and Hope Playhouse									4,000
Discovering Old Welsh Houses database									2,250
The Anglo-Saxon Charters ofWorcester									27,500
Edward I in Wales: Wardrobe and Household		Records 1282-4							1,500
Digitisation ofthe Thoresby (Leeds Historical) Soceity's				Journal Series 1:1889			to
1989									1,200
2018 Harlaxton Symposium Proceedings:	Performance,			Ceremony		and Display	in
Late Medieval England									1,000
Waldef: a medieval French romance									500
William Claxton: the Rites of Durham									2,000
The Register ofSimon Sudbury, Archbishop		of	Canterbury,		1375-1381				400
Creswell Crags excavation reports									2,650
The Vanishing Big House in Northern Ireland									1,000
Syon Abbey: archaeological investigations	in	Syon Park,			Brentford	1997-2018			1,360
Thomas Cromwell's home at the London Austin			Friars'						1,262
Re-Using Manuscripts in Late Medieval England									1,094
								80,898	47,716

The ave	rage monthly number ofemployees during the year w	as:
		2022	2021
		Number	Number
Average	monthly number ofemployees
Employment costs		2022 f	2021f
Wages	and salaries	25,000	25,000
Other pension costs		2,760	2,?60
		27,760	27,760


11	Fixed asset investments							(Continued)
				Charities		Investments	Cash held by	Total
				Property	Fund	held by	Investment
						Investment	Manager
						Manager
	Cost or valuation
	At 6April 2021			516,301		7,417,959	203,578	8,137,838
	Additions					1,739,681	(1,739,681)
	Valuation changes				83,250	458,820		542,070
	Other cash movements						(42,074)	(42,074)
	Disposals					(1,817,313)	1,817,313
	At 5April 2022			599,551		7,799,147	239,136	8,637,834
	Carrying amount
	At 05April 2022			599,551		7,799,147	239,136	8,637,834
	At 05April 2021			516,301		7,417,959	203,578	8,137,838
							2022	2021
								F
	Investments at fair value	comprise:
	Fixed interest, preference	and convertible	shares				954,110	656,620
	UK Equities & Similar investments						6,232,305	6,229,948
	Private equity						342,755	327,446
	Property trusts						269,977	203,945
							7,799,147	7,417,959
12	Other creditors falling due within one		year
							2022	2021f
	Grants outstanding						86,417	91,562
	Accruals and deferred income						18,555	17,865
							104,972	109,427

				Movement	Movement	in funds	in funds
			Balance at	Income	Expenditure		Revaluations,	Balance at
			6April 2020				gains and	6April 2021
							losses
	Capital Fund		6,121,196		(36,839)		2,053,481	8,137,838
	Unexpended	income Fund	(37,548)	233,887	(91,752)		-	104,587
			6,083,648	233,887	(128,591)		2,053,481	8,242,425
				Movement		in funds
			Balance at	Income	Expenditure		Revaluations,	Balance at
			6April 2021				gains and	5April 2022
							losses
	Capital Fund		8,137,838		(42,074)		542,070	8,637,834
	Unexpended	Income Fund	104,587	259,652	(156,782)			207,457
			8,242,425	259,652	(198,856)		542,070	8,845,291
14	Analysis of	net assets between funds
						Unrestricted		Unrestricted
							funds	funds
							2022	2021
							f
	Fund balances at 5April 2022 are represented		by:
	Investments						8,637,834	8,137,838
	Current assets/(liabilities)						207,457	104,587
							8,845,291	8,242,425