| Page | |
|---|---|
| Trustees'AnnualReport | 1-6 |
| Independent Examiner's Report | 7 |
| StatementofFinancialActivities | 8 |
| Balance Sheet | 9 |
| Notes totheAccounts | 10-17 |
| performanceof SPRET's portfolio, its benc December 2023wereasfollows:- |
hmarkindex andtheFTSE100ov | erthe1and3 |
|---|---|---|
| 1Year | 3Years* | |
| Total return performance | ||
| Charity's portfolio | 5.7% | 3.1o/o |
| Benchmark lndex | 11.7% | 7.3% |
| FTSE1OO | 3.8o/o | 5.8% |
| Unrestrictedfunds | Unrestrictedfunds | ||
|---|---|---|---|
| Note | 2023 | 2022 | |
| ff | |||
| lncome | |||
| lnvestments | 3 | 33,794 | 30,955 |
| Total | 33,794 | 30,955 | |
| Expenditure | |||
| Raisingfunds | 4 | 9,185 | 9,712 |
| Charitable activities | 5 | 50,942 | 47,699 |
| Total | 60,127 | 57,411 | |
| Netincome before investment gains/(losses) | (26,333) | (26,456) | |
| Netgains/(losses) oninvestments | 10 | 30,969 (100,536) |
|
| Netincome/(expenditure) | 4,636(126,992) | ||
| Netmovementinfunds | 4,636(126,992) | ||
| Reconciliation offunds: | |||
| Totalfundsbroughtfonruard | 1,051,4551,179,447 | ||
| Totalfundscarried fonvard | 19 | 1,056,0911,051,455 |
| Unrestricted | funds | |||
|---|---|---|---|---|
| Note | 2023 | 2022 | ||
| fI | ||||
| Fixedassets | ||||
| lnvestments | 11 | 1,014,3991,011,792 | ||
| Totalfixedassets | 1,014,3991,011,792 | |||
| Gurrent assets | ||||
| Debtors | 14 | 340 | 363 | |
| Cashatbankand inhand | 15 | 48,539 | 48,026 | |
| Totalcurrentassets | 48,879 | 48,389 | ||
| Greditors:amountsfalling due within oneyear | 16 | 7,187 | 8,726 | |
| Netcurrentassets | 41,692 | 39,663 | ||
| Totalassets lesscurrent liabilities | 1,056,091'1,051,455 | |||
| Totalnet assets | 1,056,0911,051,455 | |||
| Funds of thecharity Unrestrictedfunds |
19 | 1,056,0911,051,455 | ||
| Totalfunds | 1,056,0911,051,455 | |||
| Srgnedbyone trusteeon behalf ofallthe frusfees: | PhilipHolt | |||
| 7June 2023 |
| oing concern e averageannualresults of the charity overthepast5years are asfollows:- |
|
|---|---|
| e | |
| -Average annualincome | 34,340 |
| -Averageannual grant and grant support expenditure | (27,791) |
| -Averageannual fundraising and governance expenditure | (15,232) |
| -Averagenet expenditure before investment gainsandlosses | (8,683) |
| -Average annualinvestment gains | 21,747 |
| -Average annualnet surplus per annum | 13,064 |
| , tobe received. |
p | |
|---|---|---|
| 3.lncomefrominvestments | 2023 | 2022 |
| € | € | |
| lncomefromlisted investments | 33,529 | 30,936 |
| lnterestfrom cashbalances | 265 | 19 |
| ':r': | 30,955 | |
| 4.Expenditure on raising funds | 2023 | 2022 |
| f | f | |
| Investment manager's fees | 9,027 | 9,187 |
| Rollits investment support fees | 158 | 525 |
| 9,185 | 9,712 |
andregulatory matters relating tothemanagement oftheportfoli |
o. |
|
|---|---|---|
| Expenditure on charitableactivities | 2023 | 2022 |
| EE | ||
| HullandEast RidingofYorkshire grants | 6,570 | 10,360 |
| NonryichandNorfolk grants | 32,221 | 24,685 |
| Total grant commitments | 38,791 | 35,045 |
| Grantmakingsupport costs | 3,983 | 3,652 |
| Governance costs | 8,168 | 9,002 |
| '::= | 47,699 |
| Analysisof grant commitments | Grantsto | Grantsto | Total | Total |
|---|---|---|---|---|
| institutionsindividuals | 2023 | 2022 | ||
| €€ | € | f | ||
| Charitablepurooseforwhichgrantsmade Advancementof education |
39,791 | 38,791 | 35,045 | |
| 38,791 | 38,791 | 35,045 | ||
| Total number ofgrantsawarded | 185 | 185 | 261 | |
| : |
andcourses,heldintheUK oroverseas,that are consistentwiththeob |
jectsofthecharity. |
|
|---|---|---|
| 7.Grantmakingsupportcosts | 2023 | 2022 |
| € | € | |
| Rollitsgrantmakingsupport fees | 1,425 | 1,295 |
| Norfolk administrator's fees | 1,769 | 1,600 |
| Norfolk administrator's costs | 574 | 542 |
| Websitecosts | 180 | 180 |
| lnformation Commissioner'sOfficeannualregistrationfee | 35 | 35 |
| ifl | 3,652 |
| Governancecosts | 2023 | 2022 |
|---|---|---|
| € | e | |
| Trustees expenses | 559 | 530 |
| Independent examiner's fee | 1,200 | 1,116 |
| Rollitsaccountingfees | 3,562 | 4,032 |
| Rollits legal and agm fees | 2,770 | 3,256 |
| Bank interest and charges | 77 | 68 |
| 8,168 | 9,002 |
| 9 | f t | ||
|---|---|---|---|
| . | Feesorexamination of theaccouns | 2O2g | 2022 |
| c | € | ||
| lndependentexaminer's fees for reporting on the accounts | 1,200 | 1,116 |
|
| 10. | Gainsand losses on investments | 2023 | 2022 |
| f | f | ||
| Losses realised during theyear | (14,484) | (2,438) | |
| Gains and (losses)onrevaluation at the year end | 45,453 | (98,098) | |
| Total investment gains and (losses) pertheSoFA | 30,969(100,536) |
| Fixedasset investments: movements summary | Cash &cash | Cash &cash | Listed |
2023 | 2022 |
|---|---|---|---|---|---|
| equivalents | investments | Total | Total | ||
| f€ | e | € | |||
| Marketvalue atbeginningofyear | 5,351 | 1,006,441 | 1,011,792 | 1,121,732 | |
| Add:additionstoinvestments during theyear | 109,961 | 109,961 | 67,664 | ||
| Less: investment disposals at carrying value | (148,887) | (148,887) | (73,412) | ||
| Add/(deduct):movement duetochanges inlistedinv'ts | 25,103 | 25,103 | 3,341 | ||
| Add/(deduct): transfersin/(out)intheyear | (29,022) | (29,022) | (e,435) | ||
| Add/(deduct):net gain/(loss)onrevaluation | 45,453 | 45,453 | (e8,0e8) | ||
| Marketvalueat end of year | 1,432 | 1,012,969 | 1,014,400 | 1,011,792 |
| Historic cost analysisof investmentsheldattheyearend | ||
|---|---|---|
| Listedinvestments | 797,067 | 797,497 |
| Cashheld forreinvestment | 1,432 | 5,351 |
| 798,499802,848 | ||
| Fixed asset investments: valuation analysis | Fairvalue | Fairvalue |
| at vearendat vear end | ||
| 2023 | 2022 |
|
| fg | ||
| Cashor cash equivalents | 1,431 | 5,351 |
| Listedinvestments | 1,012,968 | 1,006,441 |
| Total | 1,014,399 | 1,011,792 |
| Allinvestments held bythecharityarerevaluedto theirmarket value(fa investments areheld atcost lessimpairment. |
irvalue)ateachyear | end.No |
|---|---|---|
| Fixed asset investments: material holdings | Market | Shareof |
| valueI | total ot TO |
|
| Holdinos>5o/oof totallisted investmentsat31December2023 | ||
| Murraylnternational Trust Plc | 59,340 | 5.86% |
| SecuritiesTrust ofScotlandPlc | 57,288 | 5.66% |
| 116,62811.52% | ||
| Current assets: debtors | 2023 | 2022 |
| € | € | |
| Amounts fallingduewithinoneyear | ||
| Otherdebtors:-Rathbone incomeaccount | 340 | 363 |
| 340 | 363 | |
| Current assets: cash at bank and inhand | 2023 | 2022 |
| f | € | |
| HSBCcommunity account | 40,913 | 45,098 |
| Lloydscurrent account | 7,626 | 2,928 |
| 48,53948,026 |
| Greditorsandaccruals | Amountsfallinodue | Amountsfallinqdue | ||
| withinonevear 2023 2022 |
afteronevear 2023 2022 |
|||
| t€ | €€ | |||
| Othercreditors:-lndependentexaminer'sfee | 1,200 | 2,196 | ||
| Rollits'fees | 3,700 | 4,248 | ||
| Investment manager's fees | 2,282 | 2,277 | ||
| Accruals anddeferredincome | 5 | 5 | ||
| Total | 7,187 | 9,726 |
| Funds of the charity | 2023 | 2022 |
|---|---|---|
| € | € | |
| Unrestricted funds | ||
| Revaluation reserve | 215,901 | 208,944 |
| Otherundesignated funds | 840,1 90 | 842,511 |
| llotalfreefunds | 1,056,0911,051,455 |
Noneofthetrusteeshave beenpaid anyremunerationorreceiveda employmentwith the charity orarelatedentity. |
nyotherbenefitsfr | oman |
|---|---|---|
| Trustees'expenses | 2023 c |
2022 I |
| Type of expenses | ||
| Travel | 56 | 66 |
| Subsistence | 229 | 232 |
| Accommodation | 273 | 232 |
| 558 | 530 | |
| Number oftrusteesreimbursedorhadexpensespaidbythe charity | 3 | 3 |
| Transactionswithrelatedparties | |||
|---|---|---|---|
| 2023 | 2022 | ||
| NameoftrusteeRelationshipDescriptionof orrelatedoartvtocharitythe transactions |
Balance at Amountvear end cf |
Balanceat Amountvearend e€ |
|
| Rollits LLP SeebelowRollits services |
7,915 | 3,700 | 9,108 4,248 |
| 7,915 | 3,700 | 9,108 v: |