| Trustees' Report |
I | - | 2 | ||
|---|---|---|---|---|---|
| Independent Examiner's |
Report | ||||
| Statement offinancial | activities | ||||
| Balance sheet |
| Unrestricted | Unrestricted | Restricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| Note | funds | funds | funds | 2022 | 2021 | ||||
| INCOMING RESOURCES |
|||||||||
| Grant income and donations | 1,000 | 1,000 | 5,000 | ||||||
| Investment income |
|||||||||
| Bank and bond interest | |||||||||
| Other investment income |
46,598 | 46,598 | 52,286 | ||||||
| Total incoming resources |
47,598 | 47,598 | 57,286 | ||||||
| RESOURCES EXPENDED | |||||||||
| Costs ofactivities in furtherance |
|||||||||
| ofthe Charity's objects |
|||||||||
| Payments to Mico Foundation, |
Jamaica | 43,000 | 43,000 | 52,000 | |||||
| Cost ofgenerating funds |
|||||||||
| Investment management |
charges | 3 | 3,540 | 3,540 | 1,551 | ||||
| Governance | 3 | 1,620 | 1,620 | 1,560 | |||||
| Other expenditure | 3 | 2,300 | 2,300 | 2,337 | |||||
| Total resources expended | 46,920 | 3,540 | 50,460 | 57,448 | |||||
| Net incoming/(outgoing) | resources | ||||||||
| before transfers | 678 | (3,540) | (2,862) | (162) | |||||
| Transfer between funds |
|||||||||
| 678 | (3,540) | (2,862) | (162) | ||||||
| Other recognised gains/losses |
|||||||||
| Unrealised gains/(losses) |
on | ||||||||
| investment assets |
62,607 | 62,607 | 286,776 | ||||||
| Realised gains/(losses) on |
|||||||||
| investment assets |
122 | 122 | 315 | ||||||
| Net movements in funds |
678 | 59,189 | 59,867 | 286,929 | |||||
| Fund balances brought forward |
79,724 | 1,632,835 | 1,712,559 | 1,425,630 | |||||
| Fund balances carried forward | 80,402 | 1,692,024 | 1,772,426 | 1,712,559 |
| Note | ~02 | ||||
|---|---|---|---|---|---|
| FIXEDASSETS | |||||
| Investments | 1,758,721 | 1/99,542 | |||
| CURRENT ASSETS | |||||
| Debtors | 11,427 | 9,257 | |||
| Deposits with investment | manager | 2,163 | 3,765 | ||
| Cash at bank | 2,735 | 2,495 | |||
| 16&325 | 15,517 | ||||
| CREDITORS: AMOUNTS PALLING | |||||
| DUE WITHIN ONE YEAR | 5 | 2,620 | 2,500 | ||
| NET CURRENT ASSETS | 13,705 | .13,017 | |||
| TOTAL NETASSETS | 1&772,426 | 1,712&559. | |||
| CAPITAL FUNDS | |||||
| Endowment fund |
1,692&024 | 1,632,$35 | |||
| RESTRICTED FUND | |||||
| Restricted funds | |||||
| UNRESTRICTED FUNDS | |||||
| General funds | 80,402 | 79,7M | |||
| 1,772&426 | 1,712,559 | ||||
| Approved by the Trustees |
on | ) '7 | |||
| The Revd Rachel Benson | DL | ||||
| Chairman ofTrustees | r | Tlllstce | |||
| The notes on pages 6to 8 | form | part ofthese | financia statements. |
| Total admi | nistration and |
management costs ofthe charity |
can be further analysed as follows:- |
|
|---|---|---|---|---|
| 2022 | 2021 | |||
| Audit and | accountancy | 1,620 | 1,560 | |
| Secretary's | fee | 2,000 | 2,000 | |
| Investment | management | charges | 3,540 | 1,551 |
| Bank charges | 40 | 80 | ||
| Insurance | 260 | 257 | ||
| 7,460 | 5,448 |
| Fixed asset investments | |||
|---|---|---|---|
| 2022 | 2021 | ||
| Quoted investments |
|||
| Market value at start ofyear | 1,699,542 | 1,415,592 | |
| Cash movements | 39 | ||
| Disposals at open market | value | (3,428) | (2,865) |
| Net unrealised investment |
gains/(losses) | 62,607 | 286,776 |
| Market value at end ofyear | 1,758,721 | 1,699,542 | |
| Historical cost at end ofyear | 1,604,648 | 1,607,892 | |
| Bonds | 262,218 | 278,004 | |
| Equity | 1,095,916 | 1,104,165 | |
| Alternatives | 269,384 | 207,321 | |
| Cash | 131,203 | 109,942 | |
| 1,758,721 | 1,699,542 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| f | |||||
| Accruals | 2,620 | 2,500 | |||
| Designated | fund | ||||
| No funds were designated | out ofunrestricted | funds. |
| Balance | Gains/ | Balance | ||
|---|---|---|---|---|
| 1 April | Outgoing | (losses) | 31 March | |
| 2021 | resources | and transfers | 2022 | |
| Endowment | 1,632,835 | (3,540) | 62,729 | 1,692,024 |