##
##
##
##
|||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|