2022-03-31-accounts

		Page
Trustees' report		1-5
Trustees' responsibilities statement
Independent auditors'	report on the financial statements	7-9
Statement offinancial	activities	10
Balance sheet
Notes to the financial	statements	12-21

Structure, g	overnance and m	anagement (continued)
Independent	auditors	MHA Maclntyre	Hudson
		Chartered Accountants
		Statutory Auditors
		Moorgate House
		201 Silbuiy Boulevard
		Milton Keynes
		Bucking hamshire
		MK9 1LZ
Bankers		Arbuthnot Latham
		7 Wilson Street
		London
		EC2M 2SN
Solicitors		Withers LLP
		20 Old Bailey
		London
		EC4M 7AN
Investment	Managers	Waverton Investment		Management
		16Babmaes Street
		London
		SW1Y6AH
Risk Management

			Unrestricted	Endowment	Total	Total
			funds	funds	funds	funds
		Note	2022 f	2022 f	2022f	2021
Income and endowments	from:
Donations and legacies			117		117	10,061
Investments			265,321		265,321	134,518
Total income and endowments			265,438		265,438	144,579
Expenditure on:
Raising funds		5		60,740	60,740	60,502
Charitable activities		8	1,353,402		1,353,402	348,608
Total expenditure			1,353,402	60,740	1,414,142	409,/10
Net expenditure before net gains on
investments			(1,087,964)	(60,740)	(1,148,704)	(264,531)
Net gains on investments				425,665	425,665	1,345,110
Net (expenditure)/income			(1,087,964)	364,925	(723,039)	1,080,579
Transfers between funds			1,087,964	(1,087,964)
Total transfers			1,087,964	(1,087,964)
Net movement in funds				(723,039)	(723,039)	1,080,579
Reconciliation offunds:
Total funds brought forward				9,589,319	9,589,319	8,508,740
Net movement in funds				(723,039)	(723,039)	1,080,579
Total funds carried forward				8,866,280	8,866,280	9,589,319

				Note			2022f			2021
Fixed assets
Investments							8,843,726			9,586,656
							8,843,726			9,586,656
Current assets
Debtors						75			480
Cash at bank and	in hand					49,143		27,143
						49,218		27,623
Creditors: amounts	falling due		within one
year				13		(26,664)		(24,960)
Net current assets							22,554			2,663
Total assets less	current liabilities						8,866,280			9,589,319
Net assets excluding		pension	asset				8,866,280			9,589,319
Total net assets							8,866,280			9,589,319
Charity funds
Endowment funds							8,866,280			9,589,319
Restricted funds
Unrestricted funds
Total funds							8,866,280			9,589,319
The financial /Q QPrtvu ~&	statements +02+		were	approved	and	authorised for issue by and signed on their behalf by: !			the	Trustees on
Mrs J MHoope~~						Mrs C	Reihill j ~(	g~	/

	Unrestricted	Total	Total
	funds	funds	funds
	2022f	2022	2021
Donations			10,000
Royalty income	117	117	61
	117	117	10,061

		Unrestricted	Total	Total
		funds	funds	funds
		2022	2022f	2021 E
UK Equities and Unit Trusts		168,877	168,877	35,014
Overseas	Equities	96,444	96,444	99,504
		265,321	265,321	134,518

		Endowment	Total	Total
		funds	funds	funds
		2022	2022f	2021
Investment	management	60,740	60,740	60,502

				Grants to	Total	Total
				Institutions	funds	funds
				2022	2022	2021
				F	E
Grants,	prizes	8	donations	1,328,355	1,328,355	305,994

Grants Payable for the year
	2022			2021
	K
Educational Support
Garsington Opera Education	8,000			8,000
Annos Africa	4,300			4,300
Achievement for All	1,500			3,000
Kiran Society				30,000
Farms for City Children	10,000			10,000
The Children's Bookshow	20,000
The Anne Frank Trust				6,000
Royal Society of Literature - reading together programme	15,000
Tristan Carter (cello tuition)	2,400
Support for the arts
Garsington Opera - Arts Hub	50,000
Stephen Spender Prize/Trust	5,000			5,000
Arkbound Foundation	5,000			5,000
St Stephen's Church - music	15,000			15,000
British Film Institute	20,000			20,000
English National Ballet	15,000
English Touring Opera	3,000
Four Corners	5,000
Deborah Rogers Foundation				10,000
High Tide	6,000			3,000
Royal Court Theatre	5,000			5,000
National Opera Studio				5,000
Holland Park Opera	5,000
Wiltons Music Hall				25,000
British Library	10,469			10,000
Soldiers Arts Academy	5,000			5,000
LAMDA (London Academy of Music 8 Dramatic Art)	2,500			2,500
Imperial War Museum	5,000			8,000
National Theatre	25,000			25,000
Sound & Music	5,000 gpss@,			5,000
Royal College of Music	5,000
Unicorn Theatre (Carol Jenner Productions)	5,000			5,000
The Little Angel Theatre	1,980			2, '/00
Wild Plum Arts	2,500			4,650
Young Classical Artists				5,000
StAnza, Scotland's Poetry Festival	4,500
Orchestra ofthe Age of Enlightenment	3,000
			,	Page 16
	PRACTICAL	TRUST s'r.~

The T.S.Eliot Foundation			1,000,000
Support for disadvantaged	groups
The Book Trade Charity			10,000	10,000
Autism Bedfordshire (covid crisis appeal)				5,766
The Felix Project (emergency	funding)		25,000	25,000
MK Womens Aid (emergency	funding)			7,678
The Need Project (food bank)				3,000
Refuge (emergency funding)			5,000	2,500
Hospital Rooms (Bethlem Mental Health		Unit)	2,500	20,000
The Dalgarno Neighbourhood	Trust (food bank)		3,000	3,000
Helen 8 Douglas Hospice			2,550
The Daisy Garland			5,656
Latymer Community Church			2,500	2,500
The Big Issue Foundation			5,000
Grants payable in the year			1,328,355	305,994
Analysis ofexpenditure on	charitable	activities
Summary by fund type

		Total	Total
		funds	funds
		2022	2021
Salaries 8 social security		7,692	7,695
Bank charges		70	190
Sundry		35	35
Website costs		1,980	2,080
Legal fees		5,250	2,650
Governance	costs- Audit and accountancy	10,020	29,964
		25,047	42,614

		Listed
		investments
		f.
Cost or valuation
At 1 April 2021		9,586,656
Purchases/ accumulations/	equalisations	3,892,112
Net movement in portfolio	cash on capital accoount	(313,492)
Sale proceeds from disposals		(4,T4T,215)
(Loss)/gain in the year		425,665
At 31 March 2022		8,843,726
Net book value
At 31 March 2022		8,843,726
At31March 2021		9,586,656

		2022	2021
		E
Due within	one year
Prepayments	and accrued income	75	480
		75	480