2022-04-05-accounts

	Page
Reportof the Trustees	tto2
IndependentExaminer's Report	3
StatementofFinancialActivities	4
Balance Sheet	5
Notesto theFinancial Statements	6 to11
Detailed StatementofFinancialActivities	t2

		2fJ22	202r
		Unrestricted	Total
		funds	funds
	Notes	C	f
INCOMEANDENDOWMENTSFROM
Investmentincome	2	33,630	32,rt6
EXPENDITUREON
Raising funds	3	6,739	6,693
Charitableactivities	4
Grants in furtherance ofthecharity's
objects		22,OOO	22,500
Grant related supportcosts		7,495	7,426
Total		36,234	36,619
Netgains on investments		51,231	237,957
NETINCOME		48t627	227,454
RECONCILIATIONOFFUNDS
Totalfundsbroughtforward		t,ol3,73o	786,276
TOTALFUNDSCARRIEDFORWARD		tto62t357	L,0L3,730

		2022	202r
		Unrestricted	Total
		funds	funds
	Notes	E	t
FIXEDASSETS
Investments	8	L,O33,166	ggg,127
CURRENTASSETS
Cashatbank		30,768	26,990
CREDITORS Amountsfallingduewithinone year	9	(t,577)	(1,387)
NETCURRENT ASSETS		29,191	25,603
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,0,621357	7,A13,730
l{ETASSETS		1'o62F57	7,073,730
FUNDS	10
Unrestricted funds		,0,62,357	1,013,730
TOTAL FUNDS		Lp62Fs7	1,013,730

2.	INVESTMENT INCOME
		2(J22 E	2021 I
	Dividends	30,992	29,659
	Interest	2,639	2,457
		33,63O :	32,116 :
3	RAISINGFUNDS
	Investmentmanagementcosts
		2022	2021
		E	E
	Portfolio management	4,93O	4,389
	Supportcosts	1,909	2,305
		6,739 :	6,693 :

CHARITABLEACTIVITIESCOSTS
			Grant
		fundingof
		activities			Support
	Direct	(see note		costs (see
	Costs		s)		note6)		Totals
	E		E		E		E
Grants in furtherance of the
charity's objects			22,OOO				22,OOO
Grant related supportcosts	6,497				998		7,495
	6Ae7	:	22,OOO	:	998	:	29,495
GRANTSPAYABLE
					2tJ22		2021
					E		t
Grants in furtherance of the charity's objects				:	22,oOO	22,500 :
Thetotalgrantspaidtoinstitutions duringthe	yearwasas
follows:
					zlJ22		2021
					E		t
WigmoreHallTrust					1,O0O		7,000
The LeagueoftheHelpingHand				2O,0OO			14,000
Garsington OperaLimited					1,OO0		2,500
Norwood							5,000
				22,OOO			22,500

SUPPORTCOSTS
				Governance
	Management	Finance			costs	Totals
	E		E		E	E
Investment managementcosts	t,567		242			1,809
Grant related supportcosts			242		756	998
	1,567	:	484		756	2,8O7 :
Support costs, included in the above, areas follows:
Management
				2022		2021
				Investment
				management		Total
					costs	activities
Professional fees				Etftl		E 2tO63
Finance
				2()22		2021
		Grant
	Investment	related
	management	support			Total	Total
	costs	costs		activities		activities
	E		E		E	E
Bank charges	_42	:	242	:	484	484 :
Governancecosts
				2022		2021
					Grant
				related
				support		Total
					costs 2	activities f
Independent examinersfees					37a	366
Accountancy fees					374	366
					756	732

FIXEDASSETINVESTMENTS
	Listed
	investments
	E
MARKET VALUE
At6thApril2027	988,127
Additions	34,256
Disposals	(42,a94)
Revaluations	53,677
At5thApril2022	1,O33,166
NET BOOK VALUE
AtsthApril2022	1,033,166
At5thApril2027	988,127
Investmentassetsare representedby
UK	48L,752
Overseas	55L,4L4
	1,033,166

		2lJ22	2021
		C	f
Other creditors		1,577 :	7,397
MOVEMENTINFUNDS
		Net
		movement	At
	At6/4/2t	infunds	s/4/22
	E	E	E
Unrestricted funds
Incomefund	8,319	4,135	L2,453
CapitalFund	L,OO5,4L2	44,492	LtO49,9O4
	l,ol3,73o	487627	1,062,357
TOTALFUNDS	'-toL3,730	48.t627	L,O62,357

Net movement in funds, included	in theaboveareasfollo	ws:
	Incoming	Resources	Gainsand	Movement
	resources EE	expended	losses E	infunds E
Unrestricted funds Incomefund CapitalFund	33,630 -	(29,495) (6,739)	51,23L	4,135 44,492
	33,63O	(36,234)	51,231	48,627
TOTALFUNDS	33,630	(36,234)	5'-,231	48,627 :

Gomparativesformovementinfund	s
		Net
		movement	At
	At 6/4/20	infunds	s/4/2t
	E	E	E
Unrestricted funds
Incomefund	6,L28	2,r90	8,319
CapitalFund	780,r48	225,264	L,0o5,41,2
	786,276	227,454	r,0t3,730
TOTALFUNDS	?81,2?l	227,454 :	1,013,730

Comparative net movement in f	unds,include	dintheabov	e areasfollows:	e areasfollows:
		Incoming resources EEE	ResourcesGainsand expendedlosses		Movement infunds E
Unrestricted funds
Incomefund		32,t76	(29,926)		2,LgO
CapitalFund			(6,693)	231,957	225,264
		32,rt6	(36,619)	23t,957	227,454
TOTALFUNDS	:	32,LL6	(36,619)	23I,957	227,454

		Net
		movement	At
	At 6/4/20	in funds	s/4/22
	E	E	E
Unrestricted funds
Incomefund	6,r28	6,325	t2,453
CapitalFund	780,r48	269,756	L,049,904
	786,276	276,087	t,062,357
TOTALFUNDS	786,276	276,08L	I,062,357

theabove areasfollows:				,
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	infunds
	E	E	E	E
Unrestricted funds
Incomefund CapitalFund	65,746	(59,42L) (L3,432)	,i149	6,325 ,a!::
	65,746	(72,853)	,i11"	,!,ou
TOTALFUNDS	65,746 :	(72,853)	283,188 :	,l:!31

	2022	2027
	E	f
INCOMEANDENDOWMENTS
Investmentincome
Dividends Interest	30,992 2,638	29,659 2,457
	33,630	32,L16
Total incomingresources	33,630	32,LL6
EXPENDITURE
Investmentmanagementcosts
Portfolio management	4,93O	4,388
Charitableactivities
LaytonsFees	t,567	2,063
Investecfees	4,93O	4,389
Grantstoinstitutions	22,OOO	22,5O0
	28,497	29,952
Support costs
Management
Professional fees	1,567	2,063
Finance
Bank charges	484	484
Governancecosts
Independent examinersfees	378	366
Accountancyfees	374	366
	756	732
Totalresources expended	36,234	36,619
Netexpenditurebefore gainsand losses	(2,604)	(4,503)
Realisedrecognised gains andlosses
Realisedgains/(losses)onfixedasset
investments	(2,446)
Netexpenditure	(5,05O)	(4,503)

HEDULE OFI RTHE YEAR	]{VESTMENTS ENDEDsTHAPRIL 2022
		Market						Market
		value at 06.04.21	Adjustment Market Value	Additions in the Year	Disposals in the Year	Profit/(Loss) on Disposal	Revaluation in the Year	Valueat (J5.04.22
26,000 L9,750 12,000 1,400 11,300 4,350	AberdeenStdFundMgASIEuropeEx UKInc Apax Global AlphaOrd Aviva8.75oloCumIrrPref€1 BHP(Billiton) OrdUSDO.5 Blackrock FmLtdEuropean DynamicFd Acc Centrica Ordf0.061728395	2,436.0O 26,754.00 37,624.00 18,780.00 28,949.OO		32.86 1.50	(2,479.07)	43.O7	754.OO 3,209.00 (1,320.00) 12,558.00 (1,920.50)	27,5O8.O0 40,833.O0 17,46O.0O 4t,5O7.OO 30,941.OO
1,100 t,t73 7,350	CRHOrd€0.32 Diageo Ord€0.028 101/108 FundsmithEquityiInstlAcc (Accumulations in year)	36,790.00 35,269.00 47,246.OO		78.63			(4,013.00) 11,402.00 3,998.37	32,777.OO 46,671.OO 45,363.O0
t,250	GlaxoSmithKlibe Ord 25p	15,971,00					5,324.00	21,295.O0
21,355 L2,400	GreencoatUKWind Ord €0.01 Henderson Janus European FocusIAcc (Accumulations in year)	27,676.00 35,402.00		665.77			5,542.00 661.29	33,218.O0 36,729.OO
20,000	HICLInfrestructureOrd	33.060.00					2,860.00	35,920.O0
600 2,100 33	ImperialBrandsOrd10p IsharesIiMSCIQltyDivCUnits Jackson Financial	8,934.00 60,739.00		649.a4	(es7.37)	207.53	764.O0 8,785.00	9,698.O0 69,524.O0
	(DemergerfromPrudential01.09.2021)
38,488.536 1,150	JPMorganUSEquity IncomeK .lupiterGlobal Dynamic BondD	49,829.00 11,903,00					8,613.00 (7se.00)	s8,442.OO lt,t44.oo
15,000	Lloyds Banking Group9.250loNon. Cum.Irred.Pref	23,243.O0					75.00	23,318.0O
2t,664	Lloyds Banking GroupOrdf0.10	9,266.O0					765.00	1O,O31.OO
1,330	M&GOrd €0.05	2,744.0O			(2,667.97)	(116.03)
4,400 8,000 6,100	MarksandSpencer Ordf0.25 MonksInvestment TrustOrdf0.05 Murray Investment TrustOrdf0.25	6,707.O0 109,680.00 73,O78.O0					251.00 (19,680.00) 4,819.00	6,958.OO 9O,0OO.OO 77,897.OO
1,375	Pearson Ord €0.25	10,597.00			(10,049.68)	(s47.32')
1,330 t,746	PrudentialOrd[0.05p Shell"8" €0.07	20,638.00 23,845.00					(5,559.00) 14,032.00	15,O7gt.OO 37,877.OO
77,5O0	SkylineUmbrella FortemCapitalProg Growth AccFd	20,265.00					159.00	2lJ,424.OO
20,000	Royal LondonUtm Sterling CreditInstIncZ	28,640.00					(1,700.00)	26,94O.O0
12,000	Schroder OrientalOrd€0.01	33,600.00					(s30.00)	32,67O.OO
2,000	SSEOrd €0.50	29,155.00					6,775.00	35,930.O0
1.400	South32NPV	2.208.00			(2,630.47)	422.47
2,000	Smithand NephewOrdEO.72222	27,195.00					(2,s40.00)	24,655.O0
3,163	TateandLyle Ord E0.25	24,2t9.0O			(27,763.41)	(2.4ss.ss)
3,000	Tesco Ordf0.05	6,839.00					r,404.00	8,243,0O
750	Unilever Ord€0.031111	30,163.00					(3,643.00)	26,52O.OO
16,000 1,125	Utilico Emerging Markets Ord €0.01 Wood Group(lohn)Oft80.042857L	31,600.00 3,003.00					4,240.00 (7,249.00)	35,840.OO 1,754.OO
		988,127.00		34,255.64	(40,447.97)(2,445.87)		53,677.16	1,033,166.00