## # ## ||||Page| |---|---|---|---| |Legal and|administrative
information||| |Trustees'|report||2-5| |Statement|oftrustees'|responsibilities|| |Independent
examiner's
report|||| |Statement|of financial|activities|| |Statement|of financial|position|| |Statement|of cash flows||10| |Notes to the financial||statements|11 —18| ## ## |Trustees||||Mr lan Paterson|Mr lan Paterson|Mr lan Paterson|||| |---|---|---|---|---|---|---|---|---|---| |||||Mr Bruce Newbigging|||||| |||||Rathbones|Trust Company|||Limited|| |||||Mr Philip
Hill|||||| |||||Ms Harriet|Hill||||| |Charity|number|||801590|||||| |Principal|office/Address||for appeals|8 Finsbury|Circus||||| |||||London|||||| |||||EC2M 7AZ|||||| |Independent||examiner||Perrys Audit||Limited|||| |||||Churchdown||Chambers|||| |||||Bordyke|||||| |||||Tonbridge|||||| |||||Kent|||||| |||||TN9 1NR|||||| |Solicitors||||Rathbones|Legal Services|||Limited|| |||||8 Finsbury|Circus||||| |||||London|||||| |||||EC2M 7AZ|||||| |Investment||advisors||Rathbones||Investment|Management||Limited| |||||8 Finsbury|Circus||||| |||||London|||||| |||||EC2M 7AZ|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2023|2022| |||Notes||| |Income from:||||| |Investments|||28,055|17,590| |Royalties|||163|485| |Total income|||28,218|18,075| |Expenditure
on:||||| |Raising funds|||2,655|3,088| |Charitable
activities|||59,616|155,632| |Total expenditure|||62,271|158,720| |Net (losses) on|investments||(34,544)|(59,394)| |Net movement|in funds||(68,597)|(200,039)| |Fund balances|at 10 May 2022||1,169,632|1,369,671| |Fund balances|at 9 May 2023||1,101,035|1,169,632| ## ## |||||||2023||2022|| |---|---|---|---|---|---|---|---|---|---| ||||||Notes||||| |Fixed assets|||||||||| |Investments|||||||1,118,631||1,188,745| |Current assets|||||||||| |Cash at bank|and|in|hand|||12,428||10,227|| |Creditors: amounts|||falling|due within|14||||| |one year||||||(30,024)||(29,340)|| |Net current
liabilities|||||||(17,596)||(19,113)| |Total assets|less|current||liabilities|||1,101,035||1,169,632| |Income funds|||||||||| |Unrestricted|funds||||||1,101,035||1,169,632| ||||||||1,101,035||1,169,632| ## ||||||2023||2022|| |---|---|---|---|---|---|---|---|---| |||||Notes||||| |Cash flows from operating|||activities|||||| |Cash absorbed
by operations||||16||(61,424)||(155,211)| |Investing|activities|||||||| |Purchase|of investments||||||(1,308,100)|| |Proceeds|from disposal
of|investments|||35,493||1,429,310|| |Investment|income received||||28,057||17,590|| |Net cash|generated
from|investing||||||| |activities||||||63,550||138,800| |Net cash|used
in financing||activities|||||| |Net increase/(decrease)||in|cash and|cash||||| |equivalents||||||2,126||(16,411)| |Cash and|cash equivalents|at beginning||ofyear||10,304||26,715| |Cash and|cash equivalents||at end of|year||12,430||10,304| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2023|2022| |---|---|---|---|---|---|---| |||||||F| ||Income from listed investments||||23,555|12,088| ||UK fixed interest||||4,471|3,599| ||Other income (REIT)|||||361| ||Overseas|investment|income||5|1,404| ||Interest receivable||||24|| ||Accrued interest|||||138| ||||||28,055|17,590| |4|Royalties|||||| ||||||2023|2022| |||||||F| ||Royalties||||163|485| |5|Raising funds|||||| ||||||2023|2022| |||||||F| ||Investment|management||fees|2,655|3,088| ||||||2,655|3,088| ## |||2023|2022| |---|---|---|---| |Grant|funding
of activities (see note 7)|28,947|125,352| |Share|of support costs (see note 8)|9,870|9,660| |Share|of governance
costs (see note 8)|20,799|20,620| |||59,616|155,632| ## ## ## |Grants|payable||| |---|---|---|---| |||2023|2022| |Arts||14,947|78,102| |Education|||1,000| |Poetry|/ Literature|2,000|15,000| |Music||9,500|26,250| |Theatre||2,500|5,000| |||28,947|125,352| |8|Support|costs|costs||||||| |---|---|---|---|---|---|---|---|---|---| |||||Support|Governance|2023|Support|Governance|2022| |||||costs|costs||costs|costs|| ||Administration||of grants|9,870||9,870|9,660||9,660| ||Independent||examiner's||||||| ||fees||||1,698|1,698||1,818|1,818| ||Legal and|professional|||684|684||852|852| ||Trustees'|management|||||||| ||fees||||18,330|18,330||17,940|17,940| ||Travel disbursement||||87|87||10|10| |||||9,870|20,799|30,669|9,660|20,620|30,280| ## ## |||2023|2022| |---|---|---|---| ||||F| |Revaluation|of investments|(35,010)|(77,434)| |Gain on sale|of investments|466|18,040| |||(34,544)|(59,394)| ## ## ## ## |13|Fixed ass|et in|vestm|e|nts||||| |---|---|---|---|---|---|---|---|---|---| |||||||Listed|Chattels|Cash in|Total| |||||||investments||portfolio|| ||Valuation||||||||| ||At 9 May|2022||||1,173,205|15,463|77|1,188,745| ||Unrealised|(loss)||||(35,010)|||(35,010)| ||Realised|gain||||466|||466| ||Cash available||to invest||||(4,014)|(75)|(4,089)| ||Disposals|||||(31,481)|||(31,481)| ||At 9 May|2023||||1,107,180|11,449||1,118,631| |||||||||2023|2022| ||Listed investments|||||||1,107,180|1,173,205| ||Chattels|||||||11,449|15,463| ||Cash
in investment|||porffolio||||2|77| |||||||||1,118,631|1,188,745| |14|Creditors: amounts||||falling due within one year||||| |||||||||2023|2022| ||Accruals and deferred||||income|||30,024|29,340| ## ## ## ||||2023|2022| |---|---|---|---|---| |Mr|Ian|Paterson|63|10| ||||63|10| |16|Cash generated
from operations|Cash generated
from operations|Cash generated
from operations|||2023|2022| |---|---|---|---|---|---|---|---| ||Deficit for the year|||||(68,597)|(200,039)| ||Adjustments
for:||||||| ||Investment
income|recognised|in statement|of financial|activities|(28,055)|(17,590)| ||Gain on disposal
of|investments||||(466)|(18,040)| ||Fair value gains and|losses on|investments|||35,010|77,434| ||Movements
in working
capital:||||||| ||(Increase)/decrease|in debtors|||||384| ||Increase
in creditors|||||684|2,640| ||Cash absorbed
by|operations||||(61,424)|(155,211)| ## ## ## |Cash|and cash eq|uivalents||| |---|---|---|---|---| ||||2023|2022| |Cash|at bank and|in hand|12,428|10,227| |Cash|available to|invest|2|77| ||||12,430|10,304| ## ## |18|Donations
approved|during|during|during|the year||| |---|---|---|---|---|---|---|---| |||||||2023|2022| ||To Institutions:||||||| ||Agenda
Poetry||||||10,000| ||Apollo Music Projects|||||1,000|| ||Art Fund|||||1,500|1,500| ||British School at Rome||||||12,677| ||Cardboard
Citizens||||||5,000| ||City 8 Guilds London Art School|||||2,500|5,000| ||Dartington
Hall Trust|||||1,500|3,000| ||De Morgan
Foundation|||||500|500| ||Druk Padma
Karpo School||||||1,000| ||Dulwich
Picture Gallery|||||1,500|3,000| ||Early Music in the Marches||||||1,250| ||Engage||||||5,000| ||Glebe Gallery Prize|||||447|| ||Institute
of Contemporary|||Arts||1,000|2,000| ||Iris Theatre|||||1,000|| ||Lennox Berkeley Society|||||500|1,000| ||Line Project|||||500|| ||Llanfyllin
Music Festival||||||3,000| ||London
Magazine|||||2,500|15,000| ||London Symphony
Orchestra||||||5,000| ||Longborough
Festival|Orchastra||||2,500|5,000| ||Moore Arts Millions|||||1,000|| ||National
Gallery of Ireland||||||24,000| ||Office of Public Works||—Derek||Hill Prize||425| ||Prism Arts|||||500|| ||Quay Theatre|||||1,500|| ||Royal Academy
ofArts|||||1,500|3,000| ||Royal Academy
of Music|||||1,250|2,500| ||Royal College of Music|||||1,250|2,500| ||Royal Drawing
School||||||3,000| ||Royal Northern
College||of Music|||1,500|3,000| ||Stephen Spender Trust|||||2,000|5,000| ||West Dean College ofArts|||||1,500|3,000| |||||||28,947|125,352| ||To Individuals:||||||| ||Lucia Pearla||||||1,000| ||||||||1,000|