This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

PDF
Markdown

2023-03-31-accounts

		Pages
Trustees' annual report		1to4
Independent examiner's report to the trustees
Statement offinancial	activities
Statement offinancial	position
Notes to the financial	statements	8to17

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	of management		A. Daftari
			T.Lane
Company secretary			Mrs. A. Critchlow		Horning
Independent	examiner		Paul Cridland	FCA
			61 Macrae Road
			Ham Green
			Bristol
			BS20ODD
Bankers			Lloyds TSBBank		Pic
			41 Courtenay	Street
			Newton Abbot
			Devon
			TQ12 2QW
			CAF Bank Limited
			PO Box289
			West Mailing
			Kent
			ME194JQ
Investment	managers		Investec
			30 Gresham	Street
			London
			EC2V7QP

						2023		2022
					Unrestdicted	Endowment
					funds	funds	Total funds	Total funds
				Note	8	6		F
Income and endowments
Investment income					175	68,843	69,018	73,787
Total income					175	68,843	69,018	73,787
Expenditure
Expenditure on raising funds:
Investment management			costs	5		20,068	20„068	20,300
Expenditure on charitable		activities		6,7	77,644		77,644	103,792
Total expenditure					77,644	20,068	97,712	124,092
Net (losses)/gains	on investments			10		(236,723)	(236,723)	113,697
Net (expenditure)/income					(77,469)	(187,948)	(265,417)	63,392
Transfers between	funds				87,000	(87,000)
Net movement in	funds				9,531	(274,948)	(265,417)	63,392
Reconciliation of	funds
Total funds brought	forward				32,162	2,913,849	2,946,011	2,882,619
Total funds cardied forward					41,693	2,638,901	2,680,594	2,946,011

			2023	2022
		Note	5	F
Fixed assets
Tangible Qxed assets		16	200	250
Investments		17	2,632,598	2,904,552
			2„832,796	2,904,802
Current assets
Debtors		18	15,042	17,233
Cash at bank and in	hand		38,946	29,829
			53,988	47,062
Creditors: amounts	falling due within one year	19	8,190	5,853
Net current assets			47,798	41,209
Total assets less current liabilities			2,680,594	2,946,011
Net assets			2,680,594	2,946,011
Funds ofthe charity
Endowment funds			2,638,901	2,913,849
Unrestricted funds			41,693	32,162
Totslcharityfunds		21	2,680,594	2,946,011

Investment	income
				Unrestricted	Endowment	Total Funds
				Funds	Funds	2023
					F
Income from	listed investments				68,843	68,843
Bank interest	receivable			175		175
				175	68,843	69,018
				Unrestricted	Endowment	Total Funds
				Funds f	Funds f	2022 f
Income from	listed investments				73,781	73,781
Bank interest	receivable					6
					73,781	73,787
Investment	management	costs
			Endowment	Total Funds	Endowment	Total Funds
			Funds	2023	Funds	2022
				K	f	E
Portfolio management			20,068	20,068	20,300	20,300

Expenditu	re on charitable	activities	by fund type
			Unrestricted	Total Funds	Unrestricted	Total Funds
			Funds	2023	Funds	2022
			9	5	6	5
Education	and educational	research	10,470	10,470	15,135	15,135
Arts and	arts research		10,394	10,394	18,900	18,900
Social sciences and science			12,581	12,581	25,766	25,766
Pensions	and compassionate		21,970	21,970	22,930	22,930
Support costs			22,229	22,229	21,061	21,061
			77,644	77,644	103792	103792

Expendit	ure	on charitable	activities	by activity type
				Activities
				undertaken	Support	Total funds	Total fund
				directly	costs	2023	2022
				E	F	5
Education	and educational		research	10,470	2,795	13,265	17,395
Arts and	arts	research		10,349	2,774	13,168	22,747
Social sciences and science				12,581	3,358	15,939	28,588
Pensions	and compassionate			21,970	5,886	27,856	26,353
Governance		costs			7,416	7,416	8,709
				55,415	22,229	77,644	103,792

			CI ID0	IDCI N cCNCD Dt Ol LO LO N 0! 'CC	IDCI N cCNCD Dt Ol LO LO N 0! 'CC	IDCI N cCNCD Dt Ol LO LO N 0! 'CC	IO CI N
			Ch		IO	IO	CD
			ClN ID0		00 CO I Ch ION		N OlN
		m0		IOIOCD Ol CO CO			~CO
		LDC	O	Ch
		Cl
		00
Vl C 0 UlC hl	'Cl C hl	C 0 LhN DlO.	ID t0	'LC N NCO DI Cf CD		I	IO CD 00 LO
CL		E00
	DI O0 CO	fh Cl0 CI0	Cl0C Cl O Ih	0& OCN	LO	I	CD IA ch Ch
		rh
		fh Z	C O	N	N		I
		hl	ID	Dt CI	I		I
			ID
			th
			hl
C 0 Dl0	'0 C hl	m C.0 0! O	o m ID Ih hl	COL DCOICO		I	LO CD I
CU		'0
		ID

Ye	ar ended 31 March 2023
9.	Analysis ofgrants
		2023	2022
		6	5
	Grants to institutions
	Grants to institutions	52,515	80,726
	Grants to individuals
	Grants to individuals	2,900	2,005
	Total grants	55,415	82,731

10.	Net (losses)/g		ains on	in	vestment	s
							Endowment			Total Funds		Endowment	Total Funds
									Funds 6		2023 6	Funds f	2022 f
	Gains/(losses)		on other	investment
	assets							(236,723)			(236,723)	113,697	113,697
11.	Net (expenditure)/income
	Net (expenditure)/income				is stated	after	charging/(crediting):
												2023	2022
												5	f
	Depreciation	oftangible		fixed assets								50	50
12.	Independent		examination		fees
												2023	2022
												f	F
	Fees payable		to the independent			examiner		for:
	Independent	examination			ofthe financial		statements					1,500	1,500
13.	Staff costs
	The total staff		costs and	employee		benefits for			the reporting		period are	analysed as	follows:
												2023	2022
												6	6
	Wages and salaries											13,187	12,572
	Employer contributions			to	pension	plans						395	377
												13,582	12,949

Funds transferred is the sum drawn down from the inv Tangible fixed assets	estment portfolio during the year.
	Equipment	Total
	6
Cost
At 1 April 2022 and 31 March 2023	2,195	2,195
Depreciation
At 1 April 2022	1,945	1,945
Charge for the year	50	50
At 31 March 2023	1,995	1,995
Carrying amount
At 31 March 2023	200	200
At 31 March 2022	250	250

Investments
	Cash or cash	Listed
	equivalents f	investments f	Total 5
Cost or valuation
At 1 April 2022	113,510	2,791,042	2,904,552
Additions		619,334	619,334
Disposals		(576,283)	(576,283)
Fair value movements		(236,723)	(236,723)
Other movements	(78,284)		(78,284)
At 31 March 2023	35,226	2,597,370	2,632,596
Impairment
At 1 April 2022 and 31 March 2023
Carrying amount
At 31 March 2023	35,226	2,597,370	2,632,596
At 31 March 2022	113,510	2,791,042	2,904,552

18.	1)3,640 Van Debtors	guard F	unds Pic S&P500 Ucits Eff USD Dis, ma	rket value f212.142
				2023 5	2022 f
	Prepayments	and accrued income		15,042	17,233
19.	Creditors: amounts		falling due within one year
				2023	2022
					F
	Accruals and	deferred	income	6,060	5,618
	Other creditors			130	235
				6,190	5,853

								At
			At				Gains and	31 Mar 202
			1 Apr 2022 f	Income f	Expenditure f	Transfers f	losses f	3 f
General	funds		32,162	175	(77,644)	87,000		41,693
								At
			At				Gains and	31 Mar 202
			1 Apr 2021	Income f	Expenditure f	Transfers f	losses f	2 f
General	funds		40,948	6	(103,792)	95,000		32,162
Endowmentfunds
								At
			At				Gains and	31 Mar 202
			1 Apr 2022 f	Income f	Expenditure f	Transfers f	losses f	3 f
Expendable
Endowment		Fund
—Capital	Fund		2,913,849	68,843	(20,068)	(87,000)	(236,723)	2,638,901
								At
			At				Gains and	31 Mar 202
			1 Apr 2021 f	Income f	Expenditure f	Transfers F	losses	2 f
Expendable
Endowment		Fund
- Capital	Fund		2,841,671	73,781	(20,300)	(95,000)	113,697	2,913,849

22.	Analysis ofnet ass	e	ts betw	een funds
					Unrestricted		Endowment	Total Funds
						Funds f	Funds	2023
	Tangible fixed assets					200		200
	Investments					2,365	2,630,231	2,632,596
	Current assets					45,318	8,670	53,988
	Creditors less than	1	year			(6,190)		(6,190)
	Net assets					41,693	2,638,901	2,680,594
					Unrestricted		Endowment	Total Funds
						Funds	Funds	2022
						6		6
	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)		(5,853)
	ftet assets					32,162	2,913,849	2,946,011
23.	Financial instruments
	The carrying amount		for each	category offinancial	instrument	is as follows:
							2023	2022
								6
	Financial assets measured			at fair value through	income	and expenditure
	Fixed assets investments						2,632,596	2,904,552