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