| Trustees' Report |
I | - | 2 | |||
|---|---|---|---|---|---|---|
| Independent Examiner's |
Report | |||||
| Statement offinancial activities | ||||||
| Balance sheet | ||||||
| Notes forming part ofthe | financial | statements | 6 | - | & |
| Unrestricted | Restricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| Note | funds | funds | funds | 2023 | 2022 | |||
| INCOMING RESOURCES | ||||||||
| Grant income and donations | 50 | 50 | 1,000 | |||||
| Investment income |
||||||||
| Bank and bond interest | ||||||||
| Other investment income |
55,761 | 55,761 | 46,598 | |||||
| Total incoming resources | 55,811 | 55,811 | 47,598 | |||||
| RESOURCES EXPENDED | ||||||||
| Costs ofactivities in furtherance | ||||||||
| ofthe Charity's objects | ||||||||
| Payments to Mico Foundation, |
Jamaica | 24,000 | 24,000 | 43,000 | ||||
| Cost ofgenerating funds |
||||||||
| Investment management |
charges | 3 | 3,295 | 3,295 | 3,540 | |||
| Governance | 3 | 1,740 | 1,740 | 1,620 | ||||
| Other expenditure | 3 | 2,270 | 2,270 | 2,300 | ||||
| Total resources expended | 28,010 | 3,295 | 31,305 | 50,460 | ||||
| Net incoming/(outgoing) | resources | |||||||
| before transfers | 27,801 | (3,295) | 24,506 | (2,862) | ||||
| Transfer between funds | ||||||||
| 27,801 | (3,295) | 24,506 | (2,862) | |||||
| Other recognised gains/losses |
||||||||
| Unrealised gains/(losses) |
on | |||||||
| investment assets |
(130,916) | (130,916) | 62,607 | |||||
| Realised gains/(losses) on |
||||||||
| investment assets |
(226) | (226) | 122 | |||||
| Net movements in funds |
27,801 | (134,437) | (106,636) | 59,867 | ||||
| Fund balances brought forward |
80,402 | 1,692,024 | 1,772,426 | 1,712,559 | ||||
| Fund balances carried forward | 108,203 | 1,557,587 | 1,665,790 | 1,772,426 |
| Note | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FIXEDASSETS | |||||||||
| Investments | 1,624,288 | 1,758,721 | |||||||
| CURRENT ASSETS | |||||||||
| Debtors | 13,709 | 11,427 | |||||||
| Deposits with investment | manager | 27,618 | 2,163 | ||||||
| Cash at bank | 2,915 | 2,735 | |||||||
| 44,242 | 16,325 | ||||||||
| CREDITORS: AMOUNTS FALLING | |||||||||
| DUE WITHIN ONE YEAR | 5 | 2,740 | 2,620 | ||||||
| NET CURRENT ASSETS | 41,502 | 13,705 | |||||||
| TOTAL NET ASSETS | 1,665,790 | 1,772,426 | |||||||
| CAPITAL FUNDS | |||||||||
| Endowment fund |
1,557,587 | 1,692,024 | |||||||
| RESTRICTED FUND | |||||||||
| Restricted funds | |||||||||
| UNRESTRICTED FUNDS | |||||||||
| General funds | 108,203 | 80,402 | |||||||
| 1,665,790 | 1,772,426 | ||||||||
| Approved by the Trustees |
on | l | A t | otto' s | I | Mds | Z | ||
| The Revd Rachel Benson | DL | ||||||||
| Chairman ofTrustees | Trustee |
| Total admi | nistration and |
management costs ofthe charity |
can be further analysed as follows:- |
|
|---|---|---|---|---|
| 2023 | 2022 | |||
| Audit and | accountancy | 1,740 | 1,620 | |
| Secretary's | fee | 2,000 | 2,000 | |
| Investment | management | charges | 3,295 | 3,540 |
| Bank charges | 20 | 40 | ||
| Insurance | 250 | 260 | ||
| 7,305 | 7,460 |
| Fixed asset investments | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Quoted investments | |||
| Market value at start ofyear | 1,758,721 | 1,699,542 | |
| Cash movements | |||
| Disposals at open market | value | (3,517) | (3,428) |
| Net unrealised investment |
gains/(losses) | (130,916) | 62,607 |
| Market value at end ofyear | 1,624,288 | 1,758,721 | |
| Historical cost at end ofyear | 1,601,433 | 1,604,648 | |
| Bonds | 257,029 | 262,218 | |
| Equity | 1,109,715 | 1,095,916 | |
| Alternatives | 225,216 | 269,384 | |
| Cash | 32,328 | 131,203 | |
| 1,624,288 | 1,758,721 |
| 5 | Creditors: | amounts falli |
ng due within one |
year | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| g | ||||||
| Accruals | 2,740 | 2,620 | ||||
| 6 | Designated | fund | ||||
| No funds were designated | out ofunrestricted | funds. |
| Balance | Gains/ | Balance | ||
|---|---|---|---|---|
| I April | Outgoing | (losses) | 31March | |
| 2022 | resources | and transfers | 2023 | |
| 8 | ||||
| Endowment | 1,692,024 | (3,295) | (131,142) | 1,557,587 |