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|Trustees'<br>annual<br>report||||
|---|---|---|---|
|Reference and administrative|details|||
|Structure, governance<br>&management||||
|Objectives and activities||||
|Achievements<br>and performance||and plans for future pedods||
|Public benefit||||
|Financial<br>review||||
|Trustees'<br>responsibilities||||
|Independent<br>Auditors'<br>report||||
|Statement offinancial activities||||
|Balance sheet|||12|
|Statement ofcash flows|||13|
|Notes tothe financial statements||||





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|Academic|Year|||||4thft 5tll|Total|Grant Awarded|
|---|---|---|---|---|---|---|---|---|
|||1"Year|2"|Year|3"Year|Year|Nos|for H.E.|
|2012-13||13||15|17|7|52|E54,540|
|2013-14||15||10|8|6|39|E37,393|
|2014-15||15||6|6|9|36|E31,116|
|2015-16||14||12|7|6|39|E33,147|
|2016-17||8||13|8|8|37|635,230|
|2017-18||10||9|15|13|47|E42,937|
|2018-19||13||4|8|7|32|E49,682|
|2019-20||9||9|6|7|31|E29,353|
|2020-21||11||11|8|9|39|E33,459|
|2021-22||9||10|6|8|33|E44,247|



|||2021-22||2020-21||
|---|---|---|---|---|---|
|Category||Grant for|As %age of|Grant for|As Stage of|
|||Category|total grant|Category|total grant|
|Primary<br>—Individuals||E4,595|1.72SS|E2,631|1.01%|
|Secondary|and Further|f23,323|8.71St|E13,019|5.02SS|
|Education|—Individuals|||||
|Higher Education||E31,710|11.85N|E33,459|12.92SS|
|Schools||E205,942|76.93%|E205,047|79.21St|
|Special needs||E2,121|0.79%i|E4,696|1.81N|
|TOTAL||E267,691|100.00S4|E258,852|100.00SS|





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||||||Unrestricted|Restricted|Total|Tots I|
|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|Funds|Funds|
|||||Note|2022|2022|2022|2021|
||||||6|6|6|E|
|INCOME|||||||||
|Investment<br>income|||||406,286||406,286|387,390|
|Otherincome|||||1,250||1,250||
|Totalincome|||||407436||407,536|387,390|
|EXPENDITURE|||||||||
|Costs of raising funds|||||||||
|Investment<br>management||costs||8|10,256||10356|9,421|
|Investment<br>property|costs|||8|95,530||95,530|103,624|
|Expenditure<br>on charitable|||activities||||||
|Education|||||267,691||267,691|258,852|
|Governance<br>costs|||||8,874||8,874|9,744|
|Total expenditure|||||382351||382,351|381,641|
|Net income (expenditure)|||and net||||||
|movement<br>in funds|before||gains and|losses|||||
|on investments|||||25,185||25,185|5,749|
|Gains (losses) on revaluation|||and||||||
|disposal ofinvestments||||10|80,617||80,617|467,447|
|Gain on revaluation|ofinvestment||||||||
|property||||9|1,101,250||1,101,250||
|Net movement<br>in funds|||||1,207,052||1,207,052|473,196|
|Fund balance at 1April 2021|||||9,298,611|500|9,299,111|8,825,915|
|Fund balance at31March||2022|||10,505,663|500|10,506,163|9,299,111|





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||||Note|2022f|2021<br>f|
|---|---|---|---|---|---|
|Fixed assets||||||
|Investment|properties||9|7,620,000|6,518,750|
|Investments|||10|2,639/76|2,552,020|
|||||10,259&476|9,070,770|
|Current assets||||||
|Debtors||||8,957|25,254|
|Cash at bank and in||hand||276/94|238,618|
|||||285/51|263,872|
|Creditors: amounts||falling||||
|due within one year|||12|(38,764)|I35,531I|
|Net current|assets|||246'687|228,341|
|Net assets|||13|10,506,163|9,299,111|
|FUNDS||||||
|Restricted funds|||14||500|
|Unrestricted|funds|||||
|General funds||||10,505,663|9,298,611|
|Total funds||||10,506p163|9,299,111|





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||||2022|2021|
|---|---|---|---|---|
||||6|6|
|Net cash generated<br>from|operating|activities|44,715|(12,433)|
|Cash flow from investing|activities||||
|Purchase ofinvestments|||(53,675)|(323,752)|
|Disposals ofinvestments|||46,836|340,583|
|Net cash flow from investing<br>activities|||(6,839)|16,831|
|Change in cash and cash|equivalents|inthe year|37,876|4,398|
|Cash and cash equivalents|brought|forward|238,618|234,220|
|Cash and cash equivalents|carded forward||276894|238,618|
|Cash and cash equivalents|consists|of:|||
|Cash at bank and in hand|||276/94|238,618|
|Net cash generated<br>from|operating|activities|||
|Net movement<br>in funds before gains||and|||
|losses on investments|||25,185|5,749|
|Depreciation|||||
|Decrease (increase) in debtors|||16,297|(16,291)|
|Increase (decrease)<br>in creditors|||3,233|(1,891)|
||||44,715|(12,433)|





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|3|Investment<br>income||2022|2021|
|---|---|---|---|---|
||||6|5|
||Income from UK property||||
||Rents receivable||347,314|335,095|
||Income from UK investments||||
||Interest and dividends||58,944|51,371|
||Bank interest<br>receivable||28|924|
||||58,972|52,295|
||Total investment<br>income||406,286|387,390|
|4|Other Income||||
||This represents<br>the proceeds from the sale|ofa small parcel of land.|||
|5|Staffcosts||2022|2021|
||||6|6|
||Salaries and wages||33,246|31,609|
||Socialsecudty<br>costs||||
||||33,246|31,609|
||The average number of part time employees|during the year was|Number|Number|
||Administration<br>support staff||||
||Cleaner||||



|7|Grants payable||2022|2021|
|---|---|---|---|---|
||||6|6|
||Grants awarded|to voluntary<br>schools and organisations|||
||Ambleside|Primary School|79,914|96,616|
||Grasmere|Primary School|59,109|53,760|
||Iangdale|Primary School|66,520|54,671|
||Special grant for Kids Centre booklets||399||
||||205,942|205,047|
||Grants awarded|to individuals|61,749|53,805|
||||267,691|258,852|





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|Investment|properties||Fixtures,||
|---|---|---|---|---|
|||Freehold<br>land|fittings and||
|||and buildings|equipment|Total|
|||6|E|E|
|Cost/Valuation|||||
|At 1April 2021||6,518,750|70,319|6,589,069|
|Additions|||||
|Revaluation||1,101,250||1,101,250|
|At31March|2022|7,620,000|70,319|7,690,319|
|At cost|||70,319|70,319|
|At valuation||7,620,000||7,620,000|
|||7,620,000|70,319|7,690,319|
|Depredation|||||
|At 1April 2021|||70,319|70,319|
|Dispose Is|||||
|Charge forthe year|||||
|At 31March|2022||70,319|70,319|
|Net book value:|||||
|At31March|2022|7,620,000||7,620,000|
|At 31March|2021|6,518,750||6,518,750|



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|10|Fixed Asset Investments|Fixed Asset Investments|2022|2021|
|---|---|---|---|---|
||Fairvalue:||E|E|
||At 1April 2021||2,552,020|2,101,404|
||Additions at cost||53,675|323,752|
||Disposa<br>I proceeds||(46,836)|(340,583)|
||Increase (decrease)|in fair value|80,617|467,447|
||At31March 2022||2,639876|2,552,020|





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|Fixed Asset Investments<br>(continued)||Market||Market|
|---|---|---|---|---|
||Cost|Value|Cost|Value|
||2022|2022|2021|2021|
||||E|E|
|Direct Property &Property<br>Funds|||||
|Mayfair Capital In Prop Inc Trust|76,016|92,2SS|76,016|77,991|
|Fixed Interest 8 fixed interest funds|||||
|Rathbone<br>UT MGT Ethical Bond|48335|44,511|44,283|44,127|
|Royal London<br>Ehtivcal Bond 2|49~5|45,974|||
|UKGovt. 8%Treasury 2021|||24,635|17,826|
|Retag &Charity Bon 4.375%5NR 29/07/23|||21,356|20,789|
|Places for People 4.25%|24,425|25,312|24,425|25,678|
|Retail Charity<br>BON 5%NTS 12/04/26|||8,125|9,273|
|Reta BCharity<br>son 4.25%SNR 06/07/2028|22,725|22,316|14,625|25,581|
|Retail Charity<br>BOB4.5%BDS30/04/25|24,307|24+67|24,307|28,240|
|Retail Charity<br>BUN 4.%5NR SEC31/10/2027|26,725|27,205|26,725|23,066|
|Retail Charity<br>BON 4.25%SNR 2028|24,625|25,073|22,725|25,424|
|Retail Charity Bon 4.25%SNR 20/06/2028|14,625|15,197|24,625|15,543|
||235,102|230,455|235,831|235,547|
|Global Equities &Equity Funds lex UK)|||||
|Castlefield<br>FS PTN B.E.S.TSUST EURP|63996|77,372|63.396|77,485|
|Global Equities &Equity Funds (In UK)|||||
|Fundrock<br>Ptnrs Ltd - GBPacc.|73,043|83,789|72,975|81,107|
|First Sentier Invr Stewart inv.|85,782|101,035|85,782|95,025|
|Lion Trust Fund Par Future GBL|39,120|44,929|39,120|42,502|
|Sarasin Fund Manag. GBLEqty|30,095|35,785|30,095|33,507|
||228,040|265,538|227,972|252,141|
|Multi-Asset<br>Funds|||||
|Castlefield<br>FD PTN MNGD Mutli-Asset|88,763|111,633|88,763|105,451|
|COIF income shares|23,785|547,226|23,785|496,871|
||112,548|658859|112,548|602,322|
|Other assets|||||
|Capital for Colleagues Ord OAO|43,605|64,074|43,605|42,241|
|UK Equities &Equity Funds|||||
|Castlefield<br>FD PTN BESTIncome|517~|536,892|518,164|533,232|
|Castlefield<br>FD PTN UK Smaller Cos Fund|379,378|587,477|379,378|603,316|
|Castlefield<br>FD PTN UK Opportunities|45,913|126,521|45,913|127,745|
||943,137|1,250,890|943,455|1,264,293|
|TOTAL|1,701,844|2,639,476|1,702,823|2,552,020|





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|11|Debtors|||2022|2021|
|---|---|---|---|---|---|
||||||E|
||Other debtors|||8,957|25,254|
||Prepayments|and accrued income||||
|||||8,957|25,254|
|12|Creditors: amounts||falling due within one year|2022|2021|
|||||E|E|
||Trade creditors and||accruals|14,130|14,133|
||Other creditors|||24,634|21,398|
|||||38,764|35,531|



|Analysis|ofnet assets between funds|General|||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||E|E|E|
|Fixed assets||10,258,976|500|10,259,476|
|Current|assets|285,451||285,451|
|Current|liabilities|(38,764)||(38,764)|
|Net assets at31March 2021||10,505,663|500|10,506,163|
|Restricted funds|||2022|2021|
||||E|E|
|At31M|rch2022and31March2021||500|500|



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|15|Unrestricted<br>funds||2022|2021|
|---|---|---|---|---|
||||E|E|
||Balance at 1Apdl 2021||9,298,611|8,825,415|
||Incoming resources||407,536|387,390|
||Resources expended||(382,351)|(381,641)|
||Investment<br>(losses)|gains|80,617|467,447|
||Property<br>revaluation|gain|1,101,250||
||Balance at31March|2022|10,505,663|9,298,611|