2023-04-05-accounts - Marc Fitch Fund

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			Page
Council Members' report			1-3
Statement ofcouncil	members'	responsibilities
Independent auditor's	report		5-8
Statement offinancial	activities
Balance sheet			10
Notes to the financial	statements		11-20

Council	Members	Members	Mr C Catling
			Miss LAllason-Jones
			Dr WJ Blair
			Dr H Forde
			Mr M Hall
			Mr A H Murison
			Mr E B Nurse
			Professor C	Payne
			Professor R	Sweet
			Mr D White
Director			Mr C Catling
Bankers			Coutts 8 Co
			440 Strand
			London
			WC2R OQS
Charity	number		313303
Company		number	569597
Registered		office	C/0 Critchleys		LLP
			Beaver House
			23-38 Hythe	Bridge Street
			Oxford
			Oxfordshire
			OX1 2EP
Auditor			Critchleys Audit		LLP
			Beaver House
			23-38 Hythe	Bridge Street
			Oxford
			OX1 2EP
Solicitors			Farrer 8 Co
			66 Lincoln's	Inn	Fields
			London
			WC2A 3LH
Investment		advisors	Brewin Dolphin
			12 Smithfield	Street, London
			EC1A9BD

				Unrestricted	Unrestricted
				funds	funds
				2023	2022
			Notes
Income from:
Charitable activities				228	258
Investments				267,242	243,970
Total income				267,470	244,228
Ex enditure on:
Raising funds				39,293	42,449
Charitable activities				406,647	140,983
Total expenditure				445,940	183,432
Net gains/(losses)		on investments		(798,381)	542,070
Net movement	in	funds		(976,851)	602,866
Fund balances	at 6 April 2022			8,845,291	8,242,425
Fund balances	at	5April 2023		7,868,440	8,845,291

					2023		2022
				Notes	E
Fixed assets
Investments				12		7,789,634		8,637,834
Current assets
Debtors				13	24,354
Cash at bank	and	in	hand		324,013		312,429
					348,367		312,429
Creditors: amounts			falling due within
one year
Other creditors				14	269,561		104,972
Net current assets						78,806		207,457
Total assets	less	current liabilities				7,868,440		8,845,291
Income funds
Unrestricted	funds	-	en eral
Designated funds:
Unexpended	income		Fund		78,806		207,457
Capital Fund					7,789,634		8,637,834
				15	7,868,440		8,845,291
						7,868,440		8,845,291
						7,868,440		8,845,291

				Unrestricted	Unrestricted
				funds	funds
				general	general
				2023	2022
				F	E
Dividends	from equities			244,527	198,357
Interest from fixed interest securities					24,317
Income from Charities		Property	Fund	21,830	21,090
Interest receivable				885	206
				267,242	243,970
Charitable	activities
				2023	2022
				E	E
Royalties	received from sale of		books	228	258

Raising fu	nds
			Unrestricted	Unrestricted
			funds	funds
			general	general
			2023	2022
			f
Investment	mana	ement	39,293	42,449
			39,293	42,449

Charitable activ	ities
												Research	Research
												and	and
												publication	publication
												2023	2022
												f	E
Grant funding of	activities (see note			7)								366,182	102,605
Share ofsupport costs (see note 8) Share ofgovernance costs (see note					8)							29,008 11,457	28,175 10,203
												406,647	140,983
Grants payable
												Research	Research
												and	and
												publication	publication
												2023	2022
Grants to institutions												274,372	80,898
Grants to individuals												93,730	30,090
												368,102	110,988
Adjustments and	grants not taken		up									(1,920)	(8,383)
												366,182	102,605
During the year	the following	grants		were awarded					to Institutions:
												2023	2022
National Musuem Scotland:		The	iron artefacts					from Trimontium,		the	Roman
fort at Newstead												3,175
St Bartholomew	the Great;	900Years										2,000
Canterbury Archaeological and Sea in the Early Middle		Trust: Ages		Transitions of Northern			and Relationships Europe			over Land		3,000
University of Exeter Press:		Sacrament				an Alter						2,728
British Museum:	English Medieval				Coin Hoards:				age ofthe sterling		penny
1180-1351and English Medieval Great Debasement 1351-1560				Coin		Hoards:		from the return		to gold to the		8,500
Archaeopress: Wales	Moel-y-Gaer,	Bodfari, a small					hillfort in Denbighshire,				North	960

Grants payable	Grants payable	Grants payable	Grants payable	(C	ontinued)
University of Sheffield: Digitising the Medieval Guild Certificates of 1388-9:a pilot project				4,972
The Royal Historical Society and the Rise ofthe Modern Historical	Profession			2,437
Hearth Tax Research Project				4,000
Historic Towns Atlas				25,000
University ofLeicester: The Wilberforce Diaries, 1779-1833:Parliament, Reform, and Abolition				100,000
Victoria County History: Medieval Newport (Shropshire): an edition and other sources to c.1550	ofcharters			1,600
8th Darlington (Cockerton Green) Scout Group: Archive digitisation				5,000
Faculty of History, University of Oxford: The Writs and Charters of	William		II	4,400
Harlaxton Symposium: Medieval Travel				1,000
Bodleian Library, Oxford: Understanding the medieval Gough Map Physics, Chemistry and History	through			38,476
Courtauld Institute: The National Wall Paintings Archive				26,000
Victoria County History: VCH Wiltshire volume XIX, Mere and the	Deverill
Valley				13,500
Victoria County History: Red Books Digitisation				25,000
Victoria County History: Digitisation of Northern Archaeology				2,624
Faculty ofArchaeology, University of Oxford: Moel-y-Gar hillfort excavation		report			1,000
Archaeopress: Hadrian's Wall Cultural Resource Management 2022					1,200
Victoria County History: Economic History chapter ofVCH Wilts Vol 20: Chippenham The York Medieval Press: The Guild Book ofthe Barbers and Surgeons of		York			3,000 500
The Canterbury and York Society: The Visitation of Hereford Diocese	in 1397				533
Historic Towns Atlas: Coventry Historical Map					2,615
Twentieth-century Society: Patrick Gwynne					500
Society ofAntiquaries of Scotland: Radar in Scotland 1938-46 Prehistoric Society: Neolithic Stone Extraction					1,600 1,400
Prehistoric Society: Fragments of Bronze					750
Welsh Place-names Society: Place-names of Carmarthenshire					2,000
Boydell & Brewer: Frisians of the Early Middle Ages British Academy: Anglo-Saxon Charters ofWorcester Cathedral					500 27,500
Yale University Press: The Buildings of England: Staffordshire					7,000
Yale University Press: Wiltshire Non-conformist Chapels and Meeting	Houses				1,000
Historic Towns Atlas:Town and country; perspectives from the Irish Historic Towns Atlas					4,000
Colchester 8 Ipswich Museums Service: Creating Constable					1,000
Book Owners Online					24,800
				274,372	80,898

Support costs	Support costs	Governance costs	2023	Support costs	Governance costs	2022
	f		f	E	E
Staff costs	27,760		27,760	27,760		27,760
Other office costs	615		615	415		415
Travel expenses	633		633
Audit fees		8,658	8,658		7,872	7,872
Accountancy Expenses Bank charges		1,670 984 145	1,670 984 145		1,212 996 123	1,212 996 123
	29,008	11,457	40,465	28,175	10,203	38,378
Analysed between Charitable activities	29,008	11,457	40,465	28,175	10,203	38,378

The ave	rage monthly num	ber of employees during the year wa	s:
			2023	2022
			Number	Number
Average	monthly number	of employees
Employment costs			2023	2022
Wages and salaries Other pension costs			25,000 2,760	25,000 2,760
			27,760	27,760

12	Fixed as	set investments
				Charities		Investments	Cash held by	Total
				Property	Fund	held by	Investment
						investment	Manager
						manager
	Cost or valuation
	At 6April	2022		599,551		7,799,147	239,136	8,637,834
	Additions					2,145,032	(2,145,032)
	Valuation	changes		(80,339)		(718,042)		(798,381)
	Other cash movements						(49,819)	(49,819)
	Disposals					(2,036,632)	2,036,632
	At 5April	2023		519,212		7,189,505	80,917	7,789,634
	Carrying amount At 05 April 2023			519,212		7,189,505	80,917	7,789,634
	At 05 April 2022			599,551		7,799,147	239,136	8,637,834
							2023	2022
							E
	Investments at fair value comprise:
	Fixed interest, preference		and convertible	shares			1,046,975	954,110
	Equities & Similar investments Private equity Property trusts						5,669,213 172,477 177,580	6,232,305 342,755 269,977
	Liquidity	funds					123,260
							7,189,505	7,799,147
13	Debtors
							2023	2022
	Amounts	falling due within one year:					F.
	Prepayments and accrued income						24,354

Other creditors falling	due within one year
		2023	2022
			f
Grants Outstanding Accruals and deferred	income	260,903 8,658	86,417 18,555
		269,561	104,972

These have been split by the Council of Management into the following designated funds:	These have been split by the Council of Management into the following designated funds:	These have been split by the Council of Management into the following designated funds:	These have been split by the Council of Management into the following designated funds:	These have been split by the Council of Management into the following designated funds:
~ Capital Fund which represents		the value ofthe charity's investment portfolio;		and
~ Unexpended	Income Fund which represents		income received that has yet to	be expended.
			Movement in funds				Movement	in funds
		Balance at 6April 2021	Income Expenditure Revaluations, gains and losses		Balance at 6Aprg 2022	income	Expenditure	Transfers	Revaluations, gains and losses	Balance at 5April 2023
			E E	E				E	E
Capital Fund Unexpended	Income Fund	8,137,838 104,587	(42,074) 259,652 (156,782)	542,070	8,637,834 207,457	267,470	(39,293) (406,647)	(10,526) 10,526	(798,381)	7,789,634 78,806
		8,242,425	259,652 (198,856)	542,070	8,845,291	267,470	(445,940)		(798,381)	7,868,440