2023-04-05-accounts

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REFERENCE ANO ADMINISTRATIVE INFORMATION
TRUSTEES' ANNUAL REPORT		S-S
INDEPENDENT EXAMINER'S	REPORT
STATEMENT OF FINANCIAL	ACTIVITIES
BALANCE SHEET
NOTES TO THE FINANCIAL	STATEMENTS	9-14

		Unrmtrlcted
		General	lava
		Fund	Scholarship	Permanent		Tote I
		Income	Income		2023	2021
	Nate		5	5	8	5
INCOME lt ENDOWMENTS
Investments		67,394			67,394	68,961
TOTAl INCOME		67,394			67,394	68,961
EXIIENDITURE
Cost ofgenerating funds	3			18,187	18,187	19,186
Charitable activities	4	48,086	32,070	10,460	90,616	40,174
TOTAL EXPENDITURE		4S,086	32,070	28.647	108,803	59,360
NET INCOME/(EXPENDITURE)	BEFORE GAINS AND
LOSSESON INVESTMENTS		19,308	(32,PTP)	(28,647)	(41,409)	9,601
Net gains/(losses) on investments				(195,615)	(195,615)	126,612
NET INCOME/(EXPENDITUliE)	AFTER GAINS AND
LOSSESON INVESTMENTS		19,308	(32,070)	(224 262)	(237024)	136213
TRANSFER BETWEEN FUNDS	6	(30,000)	30,000
oTHER RrcQGNIsED GAINs/(LossE5)
Gains/(losses) on currency
NET MOVEMENT IN FUNDS		(10,692)	(2,070)	(224,262)	(237,024)	136,213
FUND BAIANCES BROUGHT	FORWARD	22,384	76,292	2,571,315	2,669,991	2,533,778
FUND BALANCES CARRIED FORWAIID		11,692	74,222	2,347,053	2,432,967	2,669,991

					General	Law
					Fund	Scholarship	Permanent	Total	Total
					Income	Income	Endowment	20H	2022
				Note	E	5		4	E
FIXEDASSETS
Investments	-quoted						2,422,542	2,422,542	2,636,240
							2,422,542	2,422,542	2,636,240
CURRENT ASSETS
Amount lent	to Permanent Endowment			6		50,000		50,000	50,000
						50,000		50,000	50,000
Cash
Bank current	accounts				50,018	22,932	(15,574)	57.376	48,159
Bank deposit	account					1,290		1,290	1,281
					50,018	24,222	(15,574)	56,666	49,440
TOTAL CURRENT ASSEIS					50,018	74,222	(15,574)	108,666	99,440
LIABILITIES:	amounts	faslna due within one year
Creditors				8	38,326		9,915	48,241	15,689
Amount lent	by Income Accounts						50,000	50,000	50,000
					39,326		59,915	98,241	65,669
NET CURRCNTASSETS/(			IABIUTIES)		11,692	74.222	(75,489)	10,425	33,751
TOTAL ASSETS LESSCURRENT LIABILITIES					11,692	74,222	2,347,053	2,432,967	2,669,991
UABILITIESr	amounts	faRlng due after one year
Creditors
NET ASSETS					11,692	74,222	2,347,053	2,432,967	2,669,991
Representinlp
FUNDS -RESTRICTED
Permanent Endowment							2,347,053	2,347,053	2,571,315
Law Scholarship Income Account						74,222		74,222	76,292
FUNDS -UNRESIRICTED
General Fund Income		Account			11,692			11,692	22,384
					11,692	74,222	2,347,053	2,432,967	2,669,991
Approved by the Trustees			on:		-l2-ZcsCZ		CC~
				Date		and slSned on their	behalf by:	Ms CSharp - Trustee

				General	Permanent	Total
				Fund Income	Endowment	202S	2022
Comprise:						f	f
Investment	advisers'	aha	rBes		18,187	18,187	19,186

						Unrestricted	lew
						General	Scholamhip				Total	Total
						Fund Income f	Income f		Permanent E		2023 f	2022 f
EXPENDITURE
Grants awarded					4b	22,385	32,070				54,455	16,039
Grant support casts					4a	9,089					9,089	2,112
Governance costs					4c	16,612			10,460		27,072	22,023
TOTAL EXPENDITURE						48,086	32,070		10,460		90,616	40,174
AllOCATION OF	SUPPORT COSTS AND					OVERHEADS
The breakdown	of support			costs and		how these were	allocated	between	Governance	and	Charitable	Activities	i
shown in the table below:
						Grant			2023			2022
						Support			Tatel			Total
Cost Type						Costs	Gavernance		Agocated		Nlocated
						8
Independent examiner's			fees					1,S06		1,506		1,410
Accountancy and	administration				fees	983		18,672	19,655			17,137
Solicitors' fees						1,109		6,285		7,394		4,365
Bank charges								89		89		103
PubEclty expenses						6,997				6,997		600
information Commissioner								35		35		35
Trustees' Indemnity		Insurance						485		485		485
						9,0S9		27,072	36r161			24,135

7.	INVESTMENTS
					2028	2022
					Total	Total
					6	6
	Market value at 5 Aprg 2022				2,548,180	2,514,960
	Aoquisitions at cost				486,096	414,594
	Sales proceeds from dlsposals				(469.677)	(507,986)
	(Loss)/gain ln the year				(195,615)	126,612
	Market value at 5 Aprg 2023				2,368,984	2,548,180
	Cash held within the investment	portfolio			53,558	88,060
					2,422,542	2,636,240
	UK equities and collective investments				2,141,185	2,382,069
	UKgovernment and other fixed	interest stocks			227,799	166,111
	Market value at 5Aprg 2023				2,368,984	2,548,180
	Historical cost at 5April 2023				1,885,313	1,745,713
	The fogowing investment comprises more than SNofthe value ofthe investment				portfolio:
	Name			Holding	Market VaIII4
	SPDR SILP500 ETPTrust USD Distrlhutien		shares	403	E131,950
L	CREDITORS
						2022
	Amounts fallIng due within one	year
	Accru als				21,171	15,689
	Scholarship 2023/2024				27,070
					48,241	15,6$9