THE MAGOG TRUST FINANCIAL STATEMErus AND REPORT OF THE DIREcfoRS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Company No- 2426534 IEngland and Wales) Charity No: 802150 PATRONS Sir Hugh Duberly KCVO C8 Robert Macfarlane BA, Ph.D. Icantabl, MPhil Ioxon rust.o The Ma8ogTrust Report and Accountsforthe yearemded 315t March 2023 THE MAGOG TRUST Contents Page Legal and Administrative information Report of the Dirertors and Trustees Report of the Independent Examlner ststement of Financlal Actlvttles Balance Sheet Notes fomiing part of the Financial Statements 10-13 The Ma8ogTrust Rewtand Accountsfor ￿ yearended 3tst Marth 2023 THE MAGOG TRUST LEGAL AND ADMINISTRATIVE INFORMATION DIRECTORS AND TRusfEES The DSrectors, who are also Trustees, who served during the financial year, ère as follows.. Mr Christopher Bow- Chair Mrs Kathleen Foreman (retired 15 Ortober 20221 Dr Bryan Davies Dr Geoff Hale Mrs Claire Beale Ms Sara Sayer Mr Nrcholas Clrffe- Treasurer (resigned 28 July 20221 COMPANY SECRETARY Mrs Kathleen Foreman REGISTERED OFFICE Verger's Cotta8e, I, Gog Ma808 Way, Stapleford. Cambridge, C822 58Q BANKERS Barclays Bank plc INDEPENDENT EXAMINER Ms Jayne Merrlck 6 Churchfield Avenue, Sawston, C822 3LA SOLICITORS 8lrketts LLP, 141-145 Princes Street, Ipswich. IPI IOJ INVESTMENT MANAGERS Charles Stanley, 1st Floor, 3 Station Squa￿. Cambridge, CBI 2GB The MasogTrust Rep¢Jrt and Accounts fottheyearended 3151 Marth 2023 THE MAGOG TRUST REPORT OF THE DIREcfoRS AND TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The TrLtstees, who are a150 dirertors of the Chartyfor the purwses of Cornpany Law* presenttheir annual feport and the independently examined financral statements forthe yearended 31 Marth 2023. The financial statements have been prepa￿d In accordanTr WFth the CharitEs Statement of Recomrrlended Prattice IFRS1021. app1Ka￿e accounting standarits and the compan￿￿£t2£￿6. Oblects of the dwrlty* prfnclpal athitses and or¥anlsatlon of ourfMYk The Charty is consrituted as a company Ilmired byguarantee and is. therefore, governed by a memorandum and articles ol associat￿Tr. The Charity's object and (ts principal athtty continues to tE restorlngthe rnajor part of its landholdingto chalk grassland and woodland open for publK amenftywrth P￿i$M)N for wikllrfe conservation and 5aDCtuary. The Charity 1$ a re8lstered farrner. The Charity is organised 50 thatthe Trustees meet reguLadyb) manage Its affairs. They a￿ supported bya part-time offKe admin￿tratOr. Work on the ￿nd Fs MaIn￿(arried out by contrattors or by volunteer5 DevelopmenL artlvltles and athle4emuts durlr¥the year The Magog Down has continued to pmwde Member5. Friends and viFitor5 w6th the opp)rt￿nitY to enjoy a quiet and relaxing environmenc Visttor numbers have fallen frorn the peak seen dur¢n8 the pandemK but it 15 plea51ngto note that the TrustCOMIn￿ to attract new Friends. We would not be ableto maintain wonderful enwronn￿ntVriEhOutthe support ofthe manyvolunteers who attend the tnorjthly worknng partles and contribu* to the gate ros*r. I should liketo express my appreciatlon for the time and effort theyall devote to the Trust. Atthe last AGM in CKtober 2022. Chrisrophersouth stepped down as President of the Trust. He %¥as Instrumental in its creation over 30 years ago ￿ are grateful for hts SuppOrt￿r$In￿. We wtsh hirn well for thefuture. Sadty, two of our patrons have ￿Cent￿ passed away. lan Hay Davison in (ktober 2022 and David Rayner in January this vear. David, in particular, was a keen kxal suptN)rter of the TrLfStand our liAkwith h¢s famity will continue through his son, Adam. who famis the lower sw of the South Down on our behalf. Our new website went lThfe in November 2022 and ts well worth a v6r(. itstrdcilityforonline Friend applications and renewals has swnrflcant￿ enhanced the effidencyof ouradmlnlstraiion. As explained in last year'5 report. a nK)tion to changethe constftutth of theTrusrwas approved atthe 2022 AGM which wlll allowTrustees and rekted parttes to be eM￿0ved. The running of our organisatKJn is depender*t upon a small number of active participants and we find it drffiCU￿tO repla￿ those who ￿Ve. This change will build in greater resilience and f￿Xibl1ty byallowing usto reward effort5 (Ner and above the normal COUT5e of trustee dutie5. Even with this change, anv such employrnent will have to be j￿$t[fied and appro¥ed bvThe Char116es Commission. The Trustees have contlnued to work wSth Raneeford. the devek)pers of the Tetirement village. to establish the associated ¢ountryside park. The protvsed busway Icarnbridgeshire south East TransFK>rt kheme- c5￿} has SmplnEed upon our original plans as one-third of the land is to be held backfrorn us unttl its route ￿ finalised. We expect to tske ownership of the rest later this year. A plan for its deveknpment and management has been p￿pared readyfor approval bythe I￿al authority. The aim is to restore the lond to chalk grassknd and be called Chalk Hill. Although the frust doe5 not see it5eff as a rampavdning organisat￿. the Tntsteesare opposed to CSET. principally on the grounds that it will deswil an attractrve part of the green￿lt and the YFew of the bndscape from Magog Down. The Trusr is supporting the'8etterWoy5 than Busway" campa￿￿ group whKh wlll OPkW)5e CSEf atthe forthcoming public enquiry. The Trustees are encouraged bythe irKreasin8 dNer5rty of ffora and fauna to be found on the Down. F*ramidal Orchids may now be seen in profu5k)n on Tt5 northem slu￿5 and some rarety seen buttetfiie5 s￿h asthe Greeft Hair5treak and the Chalk Hlll Blue have been spotted. Flnalky, I would Ilke to expre￿ mythanks to the otherTnstee5 fortheir support and expert aLfvice. Also, to ourtwo rangers who Wol*tireth￿to rnaintsin the land and itsfabrK in such gcK)d conditlon. The MagoETrust Repwtajd AicountsfutheyeaTerKled 315tMarrh Z023 Tran5a¢dons and finandal position The Statementof Fiftanoal N£ti¥ittes show5 3 deficit forthe year of £19,41512022= £87.374surplusl, caused bya1055 of £47,476 on the Trust'5 investments12022.. £50,227 5vrpltLS1. The underlying resuttfrorn nornial activtbes was 25% dowft on ￿¥earat£28.C￿112o22= £37.1471. Total income. at £156,253. was 13% knverthan the pwous year12022.. £180,094). Combined Intome from subscrlptions and parking charges, at £59.730, was 16% (k)vffl OTr the previous year12022= £E71.2541. ￿f￿tting a general redUCt￿n in visitorsto the Down. Rural grarts were 38% h)werat £17.48612022.. £28,398), partly ￿fleCting the phasing of receipts but a1500n80ing reduttw dueto govemment policy. Totsl e¥pendsture reduced by IO% to £U8.19212022.- £142.9471. This was mainty due to k)wercosts incL*rred on the new website as the projett d￿WtO a ck)se. Tan8ible flxed 05sets for use ￿thed￿rIty Detsils of movements in fixed assets are setout in rK)te 5 to the accoun￿ All land apartfrom The Feoffee Fleld anLlJane's Piece is held freehold. Thefe i% fto leasehold property- The Trust holds a parcel of lafid known asThe FeoffeÈ F￿[d on an agrictsliurdl tenancy with the sta￿efo[d Feoffee Charity. which runs for a 20 year term until November2040. Jane's Piece is held on a licence. at a peppercom ￿TrIal. from the sarne chartty.The acquisttlon of f￿hts overthis land ha5 enabled the TrLtstto improve accessfor walkers. Investments In 2023, total investrnent income Improved by 21% to £22.86712022.. £18.8951, substsntiallyabove our present tsrget of £18,CXIO. The market walue of our investment KKJrtfolKI decllned by S%to £708￿2012o22.. £742.8161. The present level of irKome remains adequate tosupp)rtthe current level of rtornial artNty- This excludes funds required for any futurè major projetts or works progrdrnme. As such, the Trfftesare aware of the need to Secure the long-term management of the laftd and conslder that drawing on reserves may be necessary in the medium to long term. The 8oard of Trustees considers the fin3ncS3l POSitK)n of the Chartty to be sati5tsctory and its wliry isto have cash funds available to meet the fO￿Seeable medium term need Dirertors and Trustees All Director5 of the Company a￿ also Trustees of the Charlty. and there a￿ no other Trnstees. AJI of the Trustees named on page 3 served throughout the year unSess otheThAse indtsted. The Board has pw)werto appoint addthonalTrustees as consider5 fi( to do so. Ch￿stOpher 8ow. Sara Sayerand aalre Beale are due to retire by rotstton atthe forthcoming Annual Genefal Meeting. All three have Ind￿ated their V￿111ngneSS to srafid for re-eJettK¥n. John 0'BOy￿ was appointed as a Trustee on 5 September 2023. This apwntrnentwlll be put before the forthcoming Annual General Meetingfor ratification. In accordance wf(h the managementof any potential conftsct5 of interest. it 15 decIa￿dthat.' Sara Sayer Is a Partner of B4rketts LLP, a firm of solicitor5 used by the T￿St. aaiTe Beale provides ranger servw to the Trust on a contratt for seTh￿e of no r￿ed term. A relative of Christopher Bow provided website and ITsupkk)rt undera contraLt forservts. Rlsk manawnent TheTrustees actNely revlèw the major rlsks thatthe Charityfaty on a regular basis and trelieve that malntsining reserves 3t current *evels, combined wtth a￿ annual review of the controls over key financial systems. will prOv￿de suffic￿nt resources in the event of adverse condrf(K)ns. The Trustees have atso examifted ￿ratIonal and buslnes5 risks faced bythe Charity and confirm thatthey have estsblished sWems to rnittrgate the S￿nIfICant risks. The MagDgTrust Report and Accounts fort1* year enoed 3tst March 2023 Trustees, re5ponslbllltfes In relationto the finandal stater The Trustees are reqUI￿d by cornpany law to prepare financial statementsfor each financial yearthat give a true and falr ew of the financrdl artiv￿e5 n of the Chartyand Ènable them to eTrsure thatthe financkil statements ctsmpty wtth the Cornpanles Act 2006. Theyare also reswJnsi1￿e for safeguardiTr8the a$5ets of the Charrty and hentt for takin8 reasonable steps forthe prevention and detectton of fraud arbd other irregularitses. Indèpendentexamlnation The Income and turnoverof the Charityare such thara fvll audit is not ￿Uired forthe currentand future yeaT5. firn Phllllps, who has eKamlned the Trust's accounts ft>r rnany years, re5Vdned on 11 2023 for his own busines5 reason5. He confim>ed that he stood by his F¥ewous eKaminatK)nsand the Trn5tees have thanked hlm forhis pa#5ervices. Jayne Merrick was appointed to fill the casual vacancyafid the Board interydsto proFy)se that she be appolnted a5 Independent Examlner at the Annual Generol Meetingto be held in (ktober 2023. publ￿ benefft The Trustees are aware of The charityCommiss￿n's gUIdan￿ in relatK)n to delNerifi¥ public ￿nerrt. In pron￿n8the conservation of Magog Down and ensurin8 access to an extensive area of open spatr. the Trustees consider that they are fulfilling the require￿￿ntto del(vera public ￿Trefit The specrftareas of actNityare detarled On pages 4 and S of thls report. Approval The above report has been prepa￿d In accordance wrth the small compan*s' ￿1rne. CompaniesAct21YJ6. Itwas approved bythe Board of Dlrettor5 and Trustee5 on 5 Septemkr 2023. and signed on its behatF Chrtstoph•r Bow Chalt and Trustee Dirertor The Ma8ogTrust Reportand Accountststheyearended 3151 Marth 2QY THE MAGOG TRUST C4Jmpany Number 2426534 INDEPENDENf EXAMINERS REPORT TO THE TRUSTEES I report¢mthe ¥tKwnts ofthe Cornpwforthe yendEd 31 Marth 2023. *thlth areset0lrt(￿ pa8e$ 8t0 TheTrnstees Iwho are also directors of the CornpanyfordE purFo)ses of companylavl are responsible forthe preparatfon ofthe accounts.TheTrnstees et￿aerthatan audit is not req￿[red ft*thi5 year undersecbon 144121 tsf the Ch•rftlesArt2011 Ithv 2011 Adl andthat an In*erthTrtexamirotion ts neede(L Havlngsatisfied rnyselfthat tk (harttyls MtsubJeLttv unts tompany law•￿ is eligiblefry 5Thde￿de￿t examil￿tion. *t is my respO￿lbIl￿tO.' ey2minethe atmints under 5ertlon 145 of the 2011Act ttjfdlowtht wc¢edtsre5 laid thwn in the General Direthortsglvets ￿TheCharEtyc0MM1sS[0nffS (under Srfbon 145151 Ibl ofthe 2011ktl: andto st3tewhetherparttuJlar mattershavE¢o￿to my aitErrt¥o My examln*on was c4rried outln aCcOrdan￿￿ththeGeneral iJirectiortsO¥en byThetharityCommlsston. An examI[￿tion Indudes a revtew of the ac¢ounttng records kept lryV*Charityand a comparfson of the accounts presented wrththose records. ￿￿1$0 indudes trjftwderation of any l5nusu￿ Items or &5dosures In the accounts and seeksng eXplanaUc￿$frorn you aSTn￿ coftteming any suth matter& The wotedure5 undertaken do not provlde all the ewderKe thatwould be required Fn an audtt and CLwuentty rK*oplnion is8iven as towhetherthe ￿CoUnts esent a'*rueand fairMew- and the rewrtis limited to*￿e matters setout in thestatement below. 111 whith 8lves me reasonat4e ¢au% to b￿￿Ve11￿ in arrymaiErial resF*¢ the rewlrements to keep account1￿ record5 in accordano withsection 386 of theCompanie5 Art 2( to prepareac(ounts whith aLxord wtth theac(ountlng records. cC*nply￿th the8Ctounlsn8 requlremer of 5ectlon 396 ofthe C(xnpaTries Act 20[￿ aml wlth themethods afidprina￿eS ofthe Ststememtof Recommended Prnthce: Ar£￿Trt[￿ arKI Report1￿4 bycharrknes ha¥É Ttotbeen me¢ or 121 lowhlth, in myoplNon, attent6on shoukl be drawn In OFdertoenable4 proFer urnkF5tanthng oftheaccounts to be reathÈd. Jayne MÈrrtc* 6 Churchfiefd Avenue wston Cambridge CB22 3LA A￿*￿t2023 The Magc8 Trust Report and A¢¢vuntsforthÈ >*¥eThled 31st 2023 THE MAGOG TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATEME￿ OF FINANaAL AcnvmES Notss Restrkted Unrestricted Total fvnds fund5 fur 2023 Total funds 2023 2022 INCOMING RESOURCES Donations and legacies Charitable activi￿e$ Investrnents 810 5.916 127A70 22￿67 156253 7,315 153,884 18,895 180,094 127A70 2ZA67 155,443 TOTAL INCOME 810 RESOURCES EXPENDED char[tab￿ actNities Other 810 119,954 7A28 127A82 120.764 7N28 128.192 135.386 7,561 142,947 TOTAL EXPENffftiRE 81 NET INCOMING RESOURtsS BÉFORE OTHER GAINSIILQSSESI 28.061 38.061 37.147 IIET ILOSSESIIGAINS ON III¥ESTMENTS 147A761 147A761 50,227 MOVEMENT IN FUNDS 119A151 {19A151 87,374 NET MIWEMENTIN FUNDS 15 19.415 Reconcillatton of funds Total funds brought forward Totsl funds carried forward 1.401,159 1,401.159 1.313.785 The notes on pages 10 to 13 fom partofthe5e accounts. The statement of financial att￿ltieS includes all gainsafid bsse5 in the year. All incorne and expend￿Ure derfves from continuing thibes The Ma806Trust Rep￿tand Accountsfor the yearended 3tst March 2023 THE MAGOG TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 BALANCE SHEEfAS AT 31 MARCH 2023 2023 2022 Notes FIXED ASSEts Tangible assets Investments 519.956 708,820 1.228.776 525,442 742,816 1,268.258 IRRE14T ASSETS Debtors Fund rnanagement cash account COIF ￿5h dewsits Cash at bank and In hand 54,345 27.558 65.674 52,7XI 15.672 27.731 34.070 83,661 161.134 CREDITORS: amounts fallin8 due wtthin one year 47 28.233 NEf OJRRENT ASSEfs NET A55ETS 152.968 lJ81,744 132,901 1,401,159 CHAAITY FUNDS Accumulated fund ExK*ndable endowment General fund 9-10 477352 657￿69 246,513 1,381.744 477,352 705,345 218,462 1,401,159 TOTAL FUNDS The notes on pages 10 to 13 fomi partof theseaccounts. Forthe yeorended31rtMurch 2023. thecompony wu5 entrued ttsexempdon Ltnder5ecllon477(lJ Comport*5Art2L￿. No rnernbe￿ hove required the compony to obtoin uuditof ts (Kcountsfor the yeurin qtsertion in occordan￿ with section 476121. Thedirectors ocknowledge th•"rresponsibiltyfvr.' l) Enstsring the C¢>7)pany keeps occounting remrd5 which C¢ynplywfthsectson386 2) Preparing rjccounts whlch o trt￿ 0ndfvirv￿W of the5tuteof affrlirs of the componyos otthe end ofits linunciolyeorondofftsprofft ondlossfvrthefinonciLJlpenodin uccordunce withsection 396. ond whlch othermse comply with the requirements of the C(MnponlesArtreluting toocroynts. soJoros opplicoble to the compony. Thesefinonciolstoternents ho¥Ebeen prewredin t7ccordonce wfth thespeclolprovissons of Purt 15 CompJniesAcr2(I reloting t05mull compunies. Approved by the Board of Dirertors orn1 TFU5tees ty) S September2023. and skned on its beh•lfby Chrfstopher Bow Chalr and Triistee Dlrector Company Number 2426534 The Ma8DgTrust Report and Accounts fortheyearended 31s1 Marth 2023 THE MAGOG TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 I ACCoU￿1NG pouaES 1.1 Bagis of preparation ofa(C￿nts The financial stateFrerrts have been Prepa￿ under the hth?rical costconvention. wtth the exception of invettments which are included at market walue. The financial Smements have been p￿pared Sn accordan￿ wlth the Charities Statement of Recommentyed Practice IFRS1021. applicable accountingstandards and the Companie5 Act 2(Kl6. The financlal Statements have been prepa￿d on a golng concern basis. The Trustee5 have wiewed the current level of fund5 held and the expected iftcoFrE and expendrture for 12 monthsfrorn the date of approval of these accounts and regardthese assufficientto justrfythe going corKem basis. 1.2 IncorThng resour Income and donations are included in incoming resources wheth they are re￿1¥ab￿. except when the donors specrfy that they must be used in futurÈ accoÈtnting periods or dono¢s condrtion5 have not been fulfilled, then the income is deferred. The income from fundraisingventures is shown gross with the assocbted costs included irTr fundraisin8 COSL%. The Trustclairn5 refund5 of Income Tax on donations for wh￿h tt holds a valid Grft declaration forthe year whlch the money ￿ received.These refvnds are tncluded in tTrcoming resour￿5 forthat year. Income receNed from memberships whth gwe an ent6tlerDent to f￿ padtingaThd tar parklftg char8e5 ￿led on non-mernber visito￿ is stated net of ValueAdded Tax. 13 Resour￿ empended Resources expended are induded in the Ststementof FiTranclal Actwithes on an accruals basis. Expenditure which is di￿rtIv attributableto SF￿thc attrvities has been included in these COtt£ate8ories. Where costs are attributable to more than one aLtivrty, they have been apportioned across the costcategories on a basis consistent Wtth the use of these resources. IA Financèand opernting leases Rentals applicable to operatinE leases are chaiged to the Statement of Flnancial Ath¥itse50verthe peri(Kl they are Incurred. The Trust has no finan￿ lease5 at presenL 1.5 fanglble Fixed Asséts Individual fixed assets COSknng £l,(KK> or rrOre3￿ capitsli5ed atCOSL DepreclatSon is provlded on all tsngible fixed assets at rote5 cakulated to write off the cost. on a St{a￿ht Ilne basis. over their expected Ltseful econom￿ INe5 asfolbws.. Downland fvMItu￿ & f¢xture5 10%-25% straight Ilne basL% Machinery & equipment 25% straigm line basis No dep￿tiatIOn is provided on {￿ehOld Jand. IMpr￿￿MeThts io excess of £1,000 carrkd out on the site are capitèlised but not amortlsed due totheir enduring natu￿ and the Maintenan￿ pro8ramrne undertaken by the Trust. The Trustee5 have reviewed the value of the Jand considerthatthere is no irnpalrment of value for the period ended 31 Ma¥ch 2023. 1.6 Inve5tmei)ts Inve5trnents are stated at marketvalue at the balance Sheet date. The Ststement of Financlal Activities Includes the net galns/llossesl arising on revaluations and disposab thrwghout the year. 1.7 Taxat5on As a re&5tered charrty. theTnJ5t is exemptfrorn Income and corporatK)n tsxand tan recovertax paid on donatK)ns underthe Gfft Aid scher*. The T￿￿t is also exemptfrorn Capffal GainsTax. so all gains are stated gross. The frust accounts for VAT on its rnemtership5 and car parkin8 income. Its other Income. apart from a small amount of donations. is derNed from farming and as%>crated substdies. The Twst ts therefore ab￿t0 recover all VAT Incurred on tt5 expenditure. The Ma6L¥Tru5t Reportand Accounts forthÈyearended 31si March 2023 io 2 ANALYSIS OF INCOME Restrfcted Vnres¢rfrted Funds 2023 Total 2022 2023 D(mations and kn¢le5 Donations and gthts Legacies 4054 252 6.315 (haritsble acthiyes BPS incorne Car parkin8 fees Countryside Stewardship Farrning income Metnbership fees- free paF*ingentrdErnem Orher IQA25 22.605 6.661 50.014 37.125 13,021 30,973 15,377 53.551 40,281 Investments Income from listed investrnents Interest recewable on cash deK¥)stts TOTAL INCOMÈ 22,263 18,876 19 810 155,443 180.094 3 ANALYSIS OF EXPENDITURE Funds 2023 Funds 2023 Totsl 2022 char1tsbleatti￿¥es Farming costs Ranger & other services AdMIn￿ratIon Webstte and InfomiatKJn Technokey Repairs & maintenartce DepreCiat￿n on tangible r￿ed assets Flent Parking machine costs Professional fees Insurance Independent examinauon fee Other Fund management costs 41,928 21,138 21,290 22,450 13,879 5,323 1,140 3,301 3,106 1,631 200 Zl.359 23.2Q4 10.686 13.731 810 2.921 1.970 215 7,561 810 127382 142,947 4 STAFF COSTS 2023 2022 Staff salary ¢05t Employer ptnsion cortFilKrtlon A78 283 12.761 The average number of per50nsemployed in theyeaTwa5 0.7512022= nlll Prior to the employmentof an admin*strator, administratrye sUp￿)rt was provlded by a contratt forservice. One trustee, Claire Beale. provided rangerservices undera corttrartthrough her business which ￿ceiVed É19.090 12022.. £17.4741. A ￿lated party, Rachel Bow. prowded ￿6s[te support under a contratt through her busine55 which weryed £4,26012022.. £2251. Smoll Sums for out of txxket expÈnsÈs are relmbuned to trust￿. The Magog Trust Report¥nd Acwuntstrthe year end￿ 31st Marth 2023 li 5 TANGIBLE FIXED ASSErs L¥ Oownland M•thFnery & Furntture & EgU4pment Amtures Total Costlvaluatton At l April 2Q22 and 31 Marth 2023 508,335 17.758 18.5SS Depreciation At l April 2022 Charge for the year At 31 March 2023 10.116 1,702 11,818 19.206 3.784 12W4 24.692 Net book ¥alue At 31 Mar¢h 2023 5.681 519,956 At 31 March 2022 508.335 7,642 9.465 525,442 6 INVESTMENTS At Cost Value 2013 Value 2022 Fixed Income Bonds/Fund5 Equltles UK Equities Internatbnal Equitles Equity Total 195.117 175.561 133.606 118.171 271.256 389A27 149,817 290,125 439.942 181.229 285,679 Investment Funds Its550 129.521 128,853 Property 16M7 14.175 40,342 Total Listed InvestrneTrts 616.IM3 742.743 Cash held in capital fund Total Investments at 31 Mar¢h2023 136 136 ?08￿20 73 742,816 616 179 Investment portfolio at l April 2022 Additions Disposals Unre8lised ILos5es116alnsforyear lfivestTh￿nt portfollo at 31 Marth 2023 Charles Stanley Capital Account 577.936 146.963 1108*561 742,743 682,295 146,963 126,231 I￿6,893) 1116.5531 144,1291 50,770 616,043 708.684 742,743 136 136 73 708 616.179 742 816 7 DEBTORS 2023 2022 GiftAid RecoveraNe VAT Income due from harvest Other debtors 1,873 5.780 6.469 1,550 15.672 2,843 50.014 54,345 8 CREDITORS: amounts falli￿ due wlthin oneyear 2023 2022 Familng costs payab Accrued expenses VATpayab 11.380 14.568 2.285 28.233 6￿69 L785 47339 The Ma8ogTrtst RepNtand Accountsforlhe yearended 3tstMarch 2023 12 9 STATEMENTOF FUNDS At l Aprfl 2021 MrNement durtng 2021-22 At 31 March 2022 Movement durin8 2022-23 At 31 March 2023 Unrestrlcted funds.. Accumulated fund Expendab￿ endtswment General fund Total unrestrlcted funds 477.352 655.118 181.315 1.313.785 477,352 705,345 218.462 1,401,159 477.352 657,869 246,523 1,381744 50.227 37.147 87,374 147,4761 28,061 119,4151 nrestr ed Fun Accumulated Fund This represents funds ralsed by mernbersofThe Ma8tgTn￿a￿d aPpl￿d to the purchase and restoration of Magog Down. Expendable Endowmènt Fund Th55 comprSses le8acles recelved bythe charRy. The In¥estment Income thi5fund ts applled to the prfnclpal objects of the charlty as set out on page 4. General Fund Th15 represents the cummulati%* reserVesge￿rated by tts attfr4lUes rh*rtyff*. 10 ANALYSIS OF NET A$5ETS BmyEEN FU14DS At 31 March 2023 Tanglble Irwestments Cash at and In hand Other net urrent ssets Net 4ssets un￿$tr￿￿ed funds.. Accumulated fund ExpÈndable en(lowmtnt Gèneral fund Total 477.352 477,352 657.869 246,S23 1381 744 657.869 50.9SI 42.604 S19.956 145,962 145,962 7,006 At 31 March 2022 Ta#8lble fixed nvestments Cash at bank and In hènd Othér net current Net assets Uniestricte*J funds.. Accumulated fund Expendable endowment General fund Total 477,352 477.352 705.345 218,462 1,401,159 705.345 37.471 48,0 525.442 145.462 145.462 12,561 12,561 742,816 The MègogTrust Report ond Ac£ounts for the yearended 315t Marth 2023 13