2022-03-31-accounts

		Pages
Trustees'	annual report	1 to 4
Independent examiner's report to the trustees
Statement	offinancial activities
Statement	offinancial position
Notes to the financial statements		Sto17

Registered	charity	name	The Elmgrant	Trust	Trust
Charity registration		number	313398
Principal office			Elmhirst Centre
			Dartington Hall
			Totnes
			Devon
			TQ9 6EL
The trustees			M.B.Ash		-Chairperson
			S.Young
			P.B.Elmhirst
			M.R.W. Sharman
Committee	ofmanagement		D.J.Young
			A. Daftari
			T. Lane
Company secretary			Mrs. A. Critchlow		Horning
Independent	examiner		Paul Cridland	FCA
			61 Macrae Road
			Ham Green
			Bristol
			BS20 ODD
Bankers			Lloyds TSBBank		Pic
			41 Courtenay	Street
			Newton Abbot
			Devon
			TQ12 2QW
			CAF Bank Limited
			PO Box289
			West Mailing
			Kent
			ME194JQ
Investment	managem		Investec
			30Gresham Street
			London
			EC2V 7QP

						2022		2021
					Unrestricted	Endowment
				Note	funds f	funds 6	Total funds	Total funds 6
Income and endowments
Investment income						73,781	73,787	66,944
Total income						73,781	73,787	66,944
Expenditure
Expenditure on raising funds:
Investment management			costs	6		20,300	20,300	19,159
Expenditure on charitable		activities		6,7	103,792		103,792	96,511
Total expenditure					103,792	20,300	124,092	115,670
Net gains on investments				10		(113,697)	(113,697)	(443,509)
Net income					(103,786)	167,178	63,392	394,783
Transfers between	funds				95,000	(95,000)
Net movement in	funds				(8,786)	72,178	63,392	394,783
Reconciliation of	funds
Total funds brought	forward				40,948	2,841,671	2,882,619	2,487,836
Total funds carried forward					32,162	2,913,849	2,946,011	2,882,619

					2022	2021
				Note
Fixed assent
Tangible fixed assets				16	250	300
lpvestments				17	2,904,552	2,832,417
					2,904,602	2,832,717
Current assets
Debtors				16	17,233	16,933
Cash at bank	and	in	hand		29,829	38,674
					47&062	55,607
Creditors: amounts			falling due within one year	19	5,853	5,705
Net current	assets				41,209	49,902
Total assets	less	current liabilities			2,946,011	2,882,619
Net assets					2,946,011	2,882,619
Funds ofthe charity
endowment funds					2413,849	2,841,671
Unrestricted	funds				32,162	40,948
Total chirr lty funds				21	2,946,011	2,882,619

prepayment will lead to a reduction in future p Investment income	ayments or a cash refund.
	Unrestricted	Endowment	Total Funds
	Funds	Funds	2022
	E
Income from listed investments		73,781	73,781
Bank interest receivable	6		8
	6	73,781	73,787
	Unrestricted	Endowment	Total Funds
	Funds	Funds	2021
		f	E
Income from listed investments		66,927	66,927
Bank interest receivable	17		17
	17	66,927	66,944

		Endowment	Total	Funds	Endowment	Total	Funds
		Funds		2022	Funds		2021
		F		8	E		E
Portfolio	management	20,300		20,300	19,159		19,159

			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2022 f	Funds F	2021 f
Education	and educational	research	15,135	15,135	15,618	15,618
Arts and	arts research		18,900	18,900	16,763	16,763
Social sciences and science			25,766	25,766	25,484	25,484
Pensions	and compassionate		22,930	22,930	19,100	19,100
Support costs			21,061	21,081	19,546	19,546
			103,792	103,792	96,511	96,511

Expendit	ure	on charitable	activities by	activity type
				Activities
				undertaken		Total funds	Total fund
				directly	Support costs f	2022 f	2021 F
Education	and educational		research	15,135	2,260	17,395	18,065
Arts and	arts	research		18,900	3,847	22,747	20,754
Social sciences and science				25,766	2,822	28,588	28,109
Pensions	and compassionate			22,930	3,423	26,353	22,091
Governance		costs			8,709	8,709	7,492
				82,731	21,061	103,792	96,511

Ye	ar ended 31 March 2022
9.	Analysis ofgrants
		2022	2021
		8	F
	Grants to institutions
	Grants to institutions	80,725	73,165
	Grants to individuals
	Grants to individuals	2,005	3,800
	Total grants	82,731	76,965

	The major grants paid to institutions	The major grants paid to institutions	The major grants paid to institutions	The major grants paid to institutions	of	F2,000 and	F2,000 and	over in the	year were:
	St Mary's Totnes Heritage		Trust							F2,500
	Torpoint Rowers Club									F2,500
	The Appledore	Book Festival								E2,100
	Bovey Tracey	Paradiso Arts								F2,000
	Dartington Hall Trust									52,000
	CLEAR Emotional Trauma		&Therapy			Specialists				52,000
	Ballons Devon									F2,000
	Totnes Caring	Ltd								F2,000
	Rowcroft House Foundation Ltd									F2,500
	A breakdown	of grants payable to			institutions		can	be obtained	from the Trust's	secretary.
10.	Net gains on	investments
							Endowment		Total Funds	Endowment	Total Funds
								Funds	2022	Funds	2021
								E	5	E	f
	Gains/(losses)	on other investment			assets			113,697	113,697	443,509	443,509
11.	Net income
	Net income is	stated after	charging/(crediting):
										2022	2021
											E
	Depreciation oftangible fixed assets									50	50
12.	Independent	examination	fees
										2022 f	2021 F.
	Fees payable	to the independent		examiner			for:
	Independent examination		ofthe financial statements							1,500	1,500

Staff costs
The total staff costs and	employee	benefits for the reporting	period are analysed as follows:
			2022	2021
			8	6
Wages and salaries			12,572	12,428
Employer contributions	to pension	plans	377	373
			12,949	12,801

equivalent em	ployees during the year is analysed a	s follows:
		2022		2021
		No.		No.
Administrative	staff		1		1

Funds transferred is the sum drawn down from the investm Tangible fixed assets	ent portfolio during the year.
	Equipment	Total
	E	8
Cost
At 1 April 2021 and 31 INarch 2022	2,195	2,195
Depreciation
At 1 April 2021	1,895	1,895
Charge for the year	50	50
At 31 taarch 2022	1,945	1,945
Carrying amount
At 31 March 2022	250	250
At 31 March 2021	300	300

Investments
	Cash or cash	Listed
	equivalents	investments	Total
	F		F
Cost or valuation
At 1 April 2021	19,913	2,812,504	2,832,417
Additions		419,003	419,003
Disposals		(554,161)	(554,161)
Fair value movements		113,696	113,696
Other movements	93,597		93,597
At 31 March 2022	113,510	2,791,042	2,904,552
Impairment
At 1 April 2021 and 31 INarch 2022
Carrying amount
At 31 March 2022	113,510	2,791,042	2,904,552
At 31 March 2021	19,913	2,612,504	2,832,417

Debtors
			2022	2021
				F
Prepayments	and accrued income		17,233	16,933
Creditors: amounts		falling due within one year
			2022	2021
Accruals and	deferred	income	5,618	5,260
Social security	and other taxes			217
Other creditors			235	228
			5,853	5,705

Unrestricted	funds
							Gains and	At
		At 1	Apr 2021	Income	Expenditure F	Transfers F	losses f	31 hllar 2022 f
General funds			40,948	6	(103,792)	95,000		32,162
							Gains and	At
		At 1	Apr 2020 f	Income f	Expenditure F	Transfers f	losses f	31 Mar 2021 f
General funds			44,442	17	(96,511)	93,000		40,948
Endowment	funds
							Gains and	At
		At 1	Apr 2021	Income	Expenditure F	Transfers	losses f	31 Mar 2022 F
Expendable
Endowment	Fund
-Capital Fund		2,841,671		73,781	(20,300)	(95,000)	113,697	2,913,646
							Gains and	At
		At 1	Apr 2020	Income f	Expenditure f	Transfers f	losses	31 Mar 2021
Expendable
Endowment	Fund
-Capital Fund		2,443,394		66,927	(19,159)	(93,000)	443,509	2,841,671

Analysis of net as	sets between funds
		Unrestricted	Endowment	Total Funds
		Funds	Funds	2022
		F	f	f.
Tangible fixed assets		250		250
Investments		2,365	2,902,187	2,904,552
Current assets		35,400	11,662	47,062
Creditors less than	1 year	(5,853)		(5,653)
Net assets		32,162	2,913,849	2,946,011

Tangible fixed assets	Tangible fixed assets
Investments
Current assets
Creditors less than	1 year
Net assets

Unrestricted	Endowment	Total Funds
Funds	Funds	2021
	F-
300		300
2,365	2,830,052	2,832,417
43,988	11,619	55,607
(5,705)		(5,705)
40,948	2,841,671	2,882,619

The carrying	amount for each	category offinancial	instrument	is as follows:
					2022	2021
					E
Financial assets measured		atfair value through	income	and expenditure
Fixed assets	investments				2,904,552	2,832,417