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2022-12-31-accounts

		Page
Trustees' Annual Report		1-8
Independent	Auditor's Report	9-12
Consolidated	Statement of Financial Activities	13
Consolidated	Balance Sheet	14
Charity Balance Sheet		15
Consolidated	Statement ofCash Flows	16
Notes to the	Financial Statements	17-24

set Allocation	and	Strategy		2022	2022	See Notes
				E	o/o
Cash				62,559	2.18
Multi Asset				79,394	2.76
Property Commodities				79,386 109,434	2.76 3.81
Alternatives				256,788	8.94
Fixed Interest		UK Government		204,972	7.13
		Other		136,516	4.75
				929,049	32.33
Equities		UK North America Europe Japan Asia Pacific		543,255 525,321 330,655 47,160 286,677	18.91 18.28 11.51 1.64 9.98
		Emerging Global	Markets	50,289 160,843	1.75 5.60
				1,944,200	67.67
Total				2,873,249	100.00

					Unrestricted	Unrestricted	Funds
					Capital		Income	Total	Total
				Page	Fund 8		Fund E	2022 8	2021
Income from:
Donations (note 2) Investments (note	3)			19 19			288,490 72,812	288,490 72,812	29,616 59,724
Total income							361,302	361,302	89,340
Expenditure on:
Charitable activities (note 5) Raising funds (note 6)				20 20			180,202 32,252	180,202 32,252	114,282 33,602
Total expenditure							212,454	212,454	147,884
Net income / (expenditure) (losses)/gains		before	net				148,848	148,848	(58,544)
Net (losses)/gains (note 7)	on investments			21	(281,384)			(281,384)	300,255
Net unrealised gain on investment (note 11)			cash	23	1,564			1,564	130
Net movement in	funds				(279,820)		148,848	(130,972)	241,841
Reconciliation of	funds:
Total funds brought at 1 January 2022	forward				2,852,856		295,352	3,148,208	2,906,367
Total funds carried forward at 31 December 2022					F 2,573,036	F	444,200	E 3,017,236 j 3,148,208

		Page	2022	2021
			E	E
Net Cash flows from operating activities
Net incoming resources before gains Less investment income and deposit interest Loss / (gain) on investment assets (Increase) in debtors and prepayments Increase/(decrease) in creditors (Gain) on revaluation of investment cash		13 23	(130,972) (72,812) 281,384 (1,144) 435 (1,564)	241,841 (59,724) (300,255) (606) (902) (130)
Net cash expended from operating activities			75,327	(119,776)
Cash flows from investing activities
Investment income		19	71,980	59,715
Deposit interest Payments to acquire investments Receipts from sales of investments		21 21	832 (163,385) 90,172	9 (226,464) 90,200
Net cash generated from investing activities			(401)	(76,540)
Net increase /(decrease) in cash and cash equivalents		for the year	74,926	(196,316)
Reconciliation ofnet cash flow to movement	in net funds
Net cash resources at 1 January 2022 Gain on revaluation of investment cash		23	143,785 1,564	339,971 130
Cash and cash equivalents at 31 December	2022		E220,275	E 143,785
Cash and cash equivalents consist of:
Cash held with Coutts 8 Co		22	33,130	37,901
Cash held with Close Brothers		20/22	62,558	90,191
Cash held with Bank ofScotland		22	124,587	15,693
			E220,275	E 143,785

		Page	2022		2021
INCOME FROM DONATIONS	AND LEGACIES
Donations received			288,490		19,616
Legacy received					10,000
		13	E 288,490	L	29,616
INCOME FROM INVESTMENTS
Income from UK quoted securities Income from foreign quoted securities			42,014 29,885		39,047 20,631
Adjustment for accrued income Accrued income received			81		(11) 48
			71,980		59,715
Deposit interest from accounts	with
-Coutts 8 Co			421
-Close Brothers			228
-Bank of Scotland			183
Total Investment Income		13	72,812	E	59,724

EXPENDITURE ON RAI	SING FUNDS
Investment management Online fundraising fees Tax credits on investment	fees income - overseas withholding	tax			23,307 4,426 3,744		23,691 274 3,477
Miscellaneous					775
Website							5,880
			13	E	32,252	f	33,602

FIXEDASSET INVESTMENTS (AT MARKET VALUE)	Page	2022 6	2021 6
Held with Close Asset Management Ltd
Quoted investments within the United Kingdom Quoted investments outside the United Kingdom		1,600,010 1,210,680	1,722,152 1,296,709
		2,810,690	3,018,861
Cash held as part ofthe investment portfolio		48,103	77,299
	14	2,858,793	3,096,160
Subsidiary undertaking (at cost) —see below		200	200
	15	E 2,858,993	E 3,096,360
Net unrealised (loss)/gain on UK investments Net unrealised (loss)/gain on overseas investments		(175,545) (101,602)	134,275 176,078
		(277,147)	310,353
Net realised (loss) on UK investments Net realised (loss) on overseas investments		(330) (3,907)	(9,653) (445)
		(4,237)	(10,098)
Total net (loss)/gain on Fixed Asset Investments	13	6 (281,384)	6 300,255

investment porffolio in the year	.
Quoted investments:			2022 6	2021 k
Market value at 1 January 2022			3,018,861	2,582,342
Additions at cost			163,385	226,464
Disposal proceeds at carrying value Net realised investment (loss) on sales Net unrealised investment (loss)/gain on revaluation			(90,172) (4,237) (277,147)	(90,200) (10,098) 310,353
Market value at 31 December	2022		6 2,810,690	F 3,018,861
Historicalcostat31December	2022		6 2,003,586	F 1,886,568

					Group	Group			Charity	Charity
8.	DEBTORS		Page		2022 8		2021 E		2022 E		2021 8
	Accrued income				2,200		2,119		2,200		2,119
	HM Revenue &Customs				1,867		1,171		1,867		1,171
			13/14	6	4,067	L'	3,290	E	4,067	F	3,290
9.	CASH AT BANK
	Bank of Scotland Pic
	Sterling deposit account Sterling current account				5,609 118,977		5,608 10,936		4,758 118,977		4,757 10,936
			14/15		124,586		16,544		123,735		15,693
	Coutts &Co		14/15		33,130		37,050		33,130		37,050
	Close Brothers
	US dollar capital a/c ($17,421)				14,456		12,892		14,456		12,892
			14/15	E	172,172	6	66,486	8	171,321	2	65,635
10.	CREDITORS - amounts	falling due	within	one	year
	Investment management Audit fee	fees			5,857 4,800		6,215 4,800		5,857 4,800		6,215 4,800
	Trust administrator				3,857		1,985		3,857		1,985
	Client co-ordinator				3,762		2,906		3,762		2,906
	Future commitments				885		3,000		885		3,000
	Sundry expenses				180				180
			14/15	9	19,341	F	18,906	f	19,341	8	18,906

							Page		2022		2021
11.	FINANCIAL INSTRUMENTS
	The carry amounts ofthe charity's			financial	instruments		are as follows:
	Financial assets
	Measured at fair value through SOFA: -Fixed asset quoted investments (note 7) -Cash under management (note 7) -Cash at bank and in hand (note 9)						20 19 21		2,810,690 48,103 171,321		3,018,861 77,299 65,635
	Measured at amortised cost:
	-Accrued income (note 8) -Other debtors (note 8) -Prepayrnents						21 21		2,200 1,171 1,867		2,119 1,171 1,178
	Financial liabilities
	Measured at amortised cost:
	-Accruals (note 10)						21		19,341		18,906
	The income, expenses, net gains		and net		losses
	attributable to the charity's financial			instruments		are
	summarised as follows:
	income and expense
	Measured at fair value through	SOFA:
	Net (losses)/gains (at fair value)						13	9	(279,820)	E 300,385
12.	FOREIGN EXCHANGE GAIN
	Revaluation of Close Brothers US			dollar account			13	8	1,564	R	130