Registered Charfty Number 313368
(England & Wales)
DARTMOUTH STREET TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2022

RTMOUTH STREET TRUST
CONTENTS
Page
Legal and Administratwe Infornalion
Report ofthe Trustees and Stalem&nl of Trustees, Respongbilities
Report ofthe Independent Examiner
Statement of Financial A¢tivitigS
statement of Financial Position
Notes to the Finanaal Statements
8-12

DARTMOUTH STREET TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
REGISTERED CHARITY NUMBER
313368
TRUSTEES
G Marsden Ichair of Trusteesl
J K L Beever
N Budei
SJGCrine
Baroness Hayter of Kentish Town
Rt Hon Lord Radice I￿￿gned 1 Aprtl 20221
MRae
J Redmond-wtthey Asato
Baroness Thomton
S Malhotra MP lfrom 24 November 20211
G Wright
P Mutero (from 24 November 20211
ADMINISTRATOR
G Vvrighl
ADDRESS
35 Ridgmounl Gardens
London
WC1E 7AS
INDEPENDENT EXAMINER
David Hadey
FUNDS MANAGER
CAF
25 Kings Hill Avenue
West Mallin9
Kent
ME194TA
BANKERS
National Weslminsler Bank plc
PO Box 3038
57 Victoria Street
London
SW1H OHN

DARTMOUTH STREET TRUST
REPORT OF THE TRUSTEES
FOR YEAR ENDED S APRIL 2022
The tDJstees presenttheir report and finanaal statements of the Trustfor th8 year ended S April 2022. The finar￿la1
statements have been prepa￿d in accordance with the accounting policies set out in note 1 to the accounts and
comply with the charity's ttust deed, the Charities Act 2011 and Accounting and Reportiw by Charilies.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance the Financial
ReportirrfJ Standard appllcab16 in th& UK and Republk of Irèland publish6d on 16 July 2014.
OBJECTS AND P
LICIES
The Twsl was C￿ated by Trust Deed dated 25 March 1942 for the promotion of studies In political, economic and
social science and cognate educational subjects and forthe promotion of education and dissemination of knowleOJe
in such science and subjects and is an unrestricted fvnd.
In 1983 Dartmouth Street Trust received a bequest from Ihts late H T Bucklts, which is to be held on trust ft>rever
thereafter to apply the income thereof for general purposes and is a Teslri¢l8d fund. Incorne is Conside￿d to be
dividends and interest fro￿ investsnents.
ORGANISATIONAL STRUCTURE
Tha Trust is based in the United Kingdom al the registered address shown on page 1 under the control and
jurisdiction of tha tnJstg98 whose d8tails ar8 also shown on page 1.
FINANCIAL RESULTS
DLJrlng the year. there was a nel increas8 in the total funds forthe year of £46,24812021.' £139,268}.
The fund balances al S April 2022 were as follow8.'
UnreStr￿ed Fund
£252.661 12021.. £248,097>
H T Buckle Restiicted Fund
£557,839 12021.. £516.155}
MOVEMENT IN PORTFOLIOS
Th6 UK Stock rnarkel was adversely affected by economic and political condrf£ions during the first quartér of 2022.
Rising interest rates and groth fears continued to worry investors. The war in Ukraine and resulting $anctions on
Russia pressur8d thg UK equty markat. Thèsg ovents ¢oinci(1od with thg year end for the tharity.
OBJECTIVES ANDACTIVITIES FOR THE PUBLIC BENEFIT
The Trustees gav8 a grant of£28.000 to thè Fabian So(xèty .' Ic> support thè work of a ngw Commission on Poverty
and Regional Inequality. The Commissioners are from London and the north, the $oulh and the s()uth west of
England, as tnany of the policy areas are devolved lo the nations. However. there wll be inputs from Wales and
Scotland. Two or more of the Commissioners have experience of poverty,. a virtual 'Lived experience reference
group, will be involved throughout the Commission., at its eviden￿ sessions, it will hear from those with that
experience of poverty. The Commlssion alms to develop and promote plans to redu¢e poverty in all re9ions, cities
and towns in England. 11 will focus on ttte Gauses of variations in poverty beiween plaG8s with high and low povèty
rates. rather than UK-wde issues such as tsx and social security- ie the national and local policies and conditions
that lead lo concentrations of poorfy paid, low quality jobs,. insufficient hours of work,. and high housng and livi
osts. 11 wll cover tayjbenefit issues where there is a clear spatial dimension leg housing costsl or where loGg1
action is possible
THE TRUST'S PLANS FOR THE FUTURE ACTIVITIES INCLUDE.
The Trust will cffiimission research into how to coneeplualis& and measure Inequalilles of power.

**DARTMOUTH STREET TRUST REPORT OF THE TRUSTEES** 

**FOR YEAR ENDED 5 APRIL 2022** 

## STATEMENT OF PUBLIC BENEFIT 

This research will continue our policy of promoting studies in political, economic and social science, with an emphasis on social prosperity and social justice. 

## NET INCOMING RESOURCES 

There was a net deficit of £2,896 on operating activities. The trustees will continue to take account of the present market uncertainty when making grants in the year 2022/23. The policy continues to be, taking one year with another, to make grant payments not exceeding the trust's annual income. They will endeavour to maintain the present level of charitable activity. 

## INVESTMENT POLICY 

The Trustees have the power to invest in such assets as they see fit. The trustees intend to keep the trust's investment policy with a portfolio of fixed interest and tracker funds under regular review. 

## RESERVES POLICY 

The reserves are held in order to produce an investment income which is used by the Trust in undertaking its activities. The trustees consider that this level of reserve is necessary to generate an income to support the Trust's purpose and that it continues to be satisfactory given the present market conditions. 

## GRANT MAKING POLICY 

The trust makes grants for the promotion of studies in political, economic and social science and cognate educational subjects, and for the promotion of education and dissemination of knowledge in such science and subjects. Decisions are made at meetings of trustees, generally held twice a year. Restrictions: The Trust does not fund students, undergraduate or postgraduate courses. 

## RISK MANAGEMENT 

The principal risks faced by the Trust lie in the performance of investments. The trustees consider variability of investment returns on funds the charity's major financial risk. Investment policy is to accept a moderate level of risk for charitable holdings. 

## TRUSTEES 

The trustees in office during the year and at the date of this report are set out on page 1. 

The Trustees also wish to express their deep regret at the death in August 2022 of our former colleague, Giles, the Rt Hon Lord Radice, who resigned from the Trust earlier this year. Throughout his long association with the - Trust, Giles published and encouraged research based initiatives which made significant contributions to public policy in both the UK and internationally. For that, all his thoughts and advice to the Trust and the warmth with which it was given, we will miss him greatly. 

The power of appointing any new trustee is exercised by the existing trustees. 

3 



DARTMOUTH STrEEf TRUST
RE
RTO
THE TRUSTEES
FOR YEAR ENDED 5 APRIL 2022
TR
TEE
ESPONSIBILITIES IN RELATION TO THE FIKANCIAL STATEMENTS
The trustees are reswnsible for preparing a truste8S' annual r8port and )Inancial statements in accordance
with applicable law and United Kingdom Accountlng Standards (United Kingdom Generalty Accepted Accounting
Practice).
Th8 law applicable to charities in England and Wales requires tho charity trustees to preparè financial statements for
each year which give a tnje and fair wew of the state of affairs of the charity and of the Kicoming resources and
appllcallon ofre8our¢e8, of the charity forthal period. In preparing the financAal statements. the trustees are r8quired
select sullable accounting poli¢i8s and then appty them consistently;
observe the m8thod$ and principlgs in the applicable Charities SORP;
make judgements and èstimatès that arg r8ason8blg and pnjdgnl.,
state whether applicable occountin9 Standards have been followed, Subject to any material departure8 that
musl be disclosed and explained in th& financial $t8tsments-
prepare the financial statements on the goin9 Concem bass unless it Is Inappropriate to prèsume that th8
charity wll continue in business.
The trustees are responsible for keeping proper accounttng records that disclose with reasonable accuracy at any
time the financial position of the charity and to enable them to ensure that the financsaS stsiements Comply wth th8
Charities Acl 2011 and the applicable Charities (Accounts and reports) R￿ulationS. They are glso responslblo for
safeguarding thè assets ofthe charity and tawng reasonable steps forthe preventlon and detectlon offraud and other
Irregularilies.
The trustees are respon&ble for the MaIntenan￿ And intttgFity of the thArity and ￿nancIal inf0m￿li0n In accordance
with leg¢siation In tha UnÉtsd Kingdom govgmirt9 thè preparation and di889mination of financial statements.
DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINER
So far &8 each trustee is awarg. thore is no rg18vant information. bèing Intr)M￿tIOn na￿ed by the independent
examinerin connecbon with preparing their report, of which the independent examiner is unaware, and each trustee
has taken all steps tral ￿h8 ought lo have 18k8n to rnake herlhimself aware of any relevant matters and to ensure
thatthe company's independentexaminer is aware of such information. Su¢h steps inoltKle making inquiries of other
trustses and the Independent examinerand othersteps requlred bythe trustees. duty to exercise due eare and skill.
Approve(I by the trlthes on 19¥h OLtob&nd Sgned on their b8haKby.'

DARTMOUTH STREET TRUST
INDEPENDENT EXAMINER'S REPORT TO THE
TRUSTEES OF THE DARTMOUTH STREET TRUST
I report on the accounts of the Trust for the year ended 5 April 2022 which are s8t out on pag8s 6 to 12.
Respective Responslbllities of Trustggs and Examiner
The charity's Trustees are responsible for the preparation of th8 accounts. The charity'5 Trust885 cOnsi￿r that an
audit is not required lor this Period under se¢lion 144121 of the Charities Act 2011 Ilhe 2011 Acll anij that an
independent examination is nesdèd.
It Is my responsibllty Its-
examine the accounts under section 145 ofthe 2011 Act.,
to follow the procedur88 laid down in the generdl Directions given by the Charity Commission under
Section 14515llbl of the 2011 Act,. and
to state whether particular matters have come lo my attention.
Basis of Independent Examinerfs Report
My examination was carried out in accoTdanGe with the General DireGtions given by the Charity Commission. An
examlnalion includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records. It alsc) includes Cc>n￿derat1on of any unusual items or disclosurés in thè accounts. and
seeking explanations frotn you as Trustees conoeming any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts
present a Iru¢ and fair view. and the report is limited to those matters set out in the statement below.
Independent Examlnerfs Statement
In connection with my examination. no matter has come to my attention..
111 uthich gives me reasonable cause to believe that in any material respect the requirements-.
to keep accounting records in accordance section 130 of the 2011 Act., and
to prepare accounts which accord with the accounting records and comply with the accounting
requirements of the 2011 Act have not been met: or
121 to wh¢ch, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to
be reached.
yl-4
Dated.. IGld 4lzot

DARTMOUTH STREET TRUST
STATEMENT OF NNANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022
Note
Unrestrlcted
Fund
Total
2022
Total
2021
Buckle
Fund
INCOMING RESOURCES
Donations
2.130
2,130
2,291
Investment Income
6,835
16,199
23,034
20,108
TOTAL INCOMING RESOURCES
8,964
16,199
25,163
23.399
RESOURCES EXPENDED
Charitable Acliwti8S
28,000
28,000
25,000
Govem8rkce Costs
60
60
1,140
TOTAL RESOURCES
EXPENDED
28,060
28,060
26,140
NET
OUTGOING
RESOURCES
INCOMING
119,0951
16.199
12,8961
13,7411
Transfers Between Funds
16,199
{16,1991
Net incomel
ex
nditure
and
net movement in funds before
alns and lo$$¢$ on
investments
{2,8961
12,8961
13,7411
OTHER RECOGNISED GAINS
AND LOSSES
Realised Ilossesygains on
inv8stslltsnts
Unrealised Ilossesygains on
investrnents
7,460
41,684
49,144
143,009
NET MOVEMENT IN FUNDS
4,564
41,684
46,248
139,268
Total funds brought fO￿ard
248,097
516,155
764,252
624,984
TOTAL FUNDS AT S APRIL 2022
252,661
557,839
810.500
764,252
The notes on page 8 to 12 fomi part of these financial statements.

DARTMOUTH STREET TRUST
STATEMENTS OF FINANCIAL POSITION AS AT S APRIL 2022
Not•
Unr•strict•d
Fun
Total
2022
Total
2021
Buckle
Fund
FIXED ASSETS
Investments
230.812
7.839
788,651
739,507
CURRENT ASSETS
Debtors
366
366
392
Cash at Bank
24,723
24,723
27,593
25,089
25,089
27.985
CREDITORS
Amounts falllng due w5thin on•
year
Creditors & 8ccru8ls
10
13,2401
13.2401
13,2401
NEf CURRENT ASSETS
21,849
21,849
24,745
TOTAL NET ASSETS
252,661
557,839
810,500
764,252
FUND
252,661
557,839
810,500
764,252
The financial slaternenls werB approved by thè Managlng Twstees and aulhorfsed f<￿ issue on If OcPèber and
signed on their behalf by..
102L
The notes on paga 8 to 12 ft>rm p8rt of th8se financial stslements.

DARTMOUTH STREET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
Accountin
Poli
Basis of
ration and assessment of
oin
concem
The Financial statements have been prepared tJndeT the hislollGal ¢osl ¢onvention with items
recognised at co* or Iransacbon valt5e Un￿$5 otherwise ststed in the retevant notelsl to these
accounis.
The finan¢ial 818tem8nls have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts in
accordance wth the Finanaal Reporbng Standard applicable in the UK IFRS 102lleffECtive 1
January 2019FCharilies SORPIFRS1021 and the Financi81 Reporting Standard applicable in the
UK.
The trust constitut9$ a public benefit entity as defined by FRS 102.
The financial statements are prepared in steding wh￿h is the functional currency of the charity-
The trustees consider that there are no material uncertainties about the Trust's ability lo continue
as a going concem.
The most significant a￿aS of uncertainty that affect the carrying value of assets held by the Trust
are the level of investment return and the perfom)ance of investment marf(ets (see the investment
policy and perfomiance and risk management sections of the tnjstees, annual ￿port for more
infomiationl.
omin
Re80urces
All incoming r8sources are included in the Statement of Financial Activities when the charity is
legally entitled to the income and the amount can be quantified with reasonable certainty.
Donations are recognised on the receivable basis.
Investments
Investments are accounted for at market value, which gives rise to unrealised gainsAosses which
are included in the Statamant of Finan¢i81 A¢tiviti8s. Roalised gainsllosses arising on the disposal
of investments during the year are separately recorded in the Statement of Financial A¢livilie$.
Resources Ex
nded
Expenditure is included on an 8￿ru81$ basis.
8bl
Grants payable are rgcognised in the SOFA as charitable expenditure in the period in which the
grant is auth0ri5ed and any preconditions have been mel. A list of grants payable can be found in
Note 5.

DARTMOUTH STREET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022
Fund A
ounti
Unrestiicted Fund - can be used in accordance ￿th the charltsble obje¢ts 8t the discretion of the
trustees. H T Buckle Fund - income can be Ljsed for general purposes, the fund to be held in trust
pèman&nUy.
DONATIONS AND FUNDRAISING
2022
2021
Individuals
InslilulK)ns
1.965
165
2,291
2,130
In 2021 and 2022 all of the income from donations w88 attributable lo the general fund.
NVESTMENT INCOME
2022
2021
Unreslricled Fund
6.835
6.407
H T Buckle Fund
16.199
13.701
23,034
20,108
4. TAXATION
As Dartmouth Street Trust is a registered charity il is therefore nol liable to corporation lax 8nd capital
gains lax by wrtue of various exemptions available to registered chaflU&s.

DARTMOUTH STREET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
CHARITABLE ACTIVIMES
The charity meets its charitsble purposes by ProV￿1r0 granis in accordance with the charitable objects of
the tNsl.
2022
2021
Fabian Society- To be spent in followiro areas-.
To support the wotlo ofa new commission on Poverty and R￿j10ft81
Inequality.
28.000
25,000
Total spend on Charitsblg activities
28,000
25,000
UPPORT COSTS
2022
Govemance
2021
Gov8man¢8
Charflabl&
clivity
Total
Charitsbl8
acttvity
Totsl
Independent
examination
1,080
1,080
Bank Charges
25
25
25
25
Sundry Expenses
35
35
35
35
60
60
1,140
1,140
7. TRUSTEES, REMUNERATION
The trustees received no remuneration or expenses during the year12021.. £nlll-
io

DARTMOUTH STREET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
FIXE
ASSET INVESTMENTS
Unrestrictéd
Fund
Total
2021
Total
2020
Bu¢kle
Fund
Market valu8 al 6 April 2021
223.352
516,155
739.￿)7
596.499
Acquisitions at cost
Sale proceeds from disposals
Realised Ilossllgain on disposal
Unrealised Ilossygain8
41,684
49,142
143,(X)9
Market Value at S April 2(122
230,812
557,839
788,651
596,499
180,313
385,269
Histori¢al cost at 5 April 2021
565,582
5.582
DEBTORS
2022
2021
Gtft aid recov&rable
366
391
36
391
10. CREDITORS
2022
2021
Accruals
3,240
3,240
3,240
3,240
li

DARTMOUTH STREET TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
11. FUNDS 2022
At 6 April
2021
Incoming
sources
Outgoing
resources
Net {lossl
gain on
Investments
Tr8nsfer
At 5 April
2022
Unrestricted
Fund
248,097
8,965
128,0601
7,460
16.199
252,661
HT Buckle
Fund
516,155
16,199
41.684
116.1991
557,839
764,252
25,164
28,060
49,144
810,500
FUNDS 2021
Al 6 April
2020
Incoming
resources
Outgoing
resources
N8t Iloss}
gain on
investments
Transfor
At 5 April
2021
Unrestricted
Fund
216.￿4
8.698
126.140}
34,934
13.701
248,097
HT Buckle
Fund
408,080
13,701
108.075
{13,7011
516.155
624,984
22,399
26,140
143,009
764,252
Investment income arising on the HT Buckle Fund is transferred lo the unrestricted fund in line wth the
charity's accounting policy which permits the income to be used for general purposes.
12