## 



## 

|||Page|
|---|---|---|
|Trustees'<br>Report||1-2|
|Independent<br>Auditors'|Report|3-5|
|Statement<br>of Financial|Activities||
|Balance Sheet|||
|Notes to the Financial|Statements|8-12|





## 

## 

## 

## 

|||2023|2022|
|---|---|---|---|
|Investment|income|f73,449|E69,900|
|Donations|received|||
|Investment|gains/ (losses)|(2214,720)|(2210,880)|
|Trust costs||F8,690|E7,423|
|Number of|donations|27|33|
|Amount of|donations|291,620|E197,800|





## 

## 



## 

## 

## 

## 

## 



## 

## 



## 

## 



## 

||Note||2023||2022|
|---|---|---|---|---|---|
|INCOME||||||
|Investment<br>income||73,449||69,900||
|TOTAL INCOME|||73,449||69,900|
|EXPENDITURE||||||
|Cost ofcharitable<br>activities||96,318||200,311||
|Governance<br>costs||3,991||3,912||
|TOTAL EXPENDITURE|||(100,309)||(204,223)|
|NET EXPENDITURE BEFORE GAINS||||||
|AND LOSSES ON INVESTMENTS|||(26,860)||(134,323)|
|GAINS AND LOSSES ON||||||
|INVESTMENTS||||||
|Realised gains/(losses)<br>on disposals|6|73,317||3,177||
|Unrealised<br>gains/(losses)<br>on revaluation<br>of investments||(288,037)||(214,057)||
|NET GAINS<br>/ (LOSSES)ON|||(214,720)||(210,880)|
|INVESTMENTS||||||
|NET MOVEMENT<br>IN FUNDS FOR THE|||(241,580)||(345,203)|
|YEAR||||||
|TOTAL FUNDS BROUGHT FORWARD|||2,384,969||2,730,172|
|TOTAL FUNDS CARRIED FORWARD|9||2,143,389||2,384,969|





## 





## 



## 

## 

## 

## 

|INVESTMENT INCOME|2023|2022|
|---|---|---|
||E||
|Income from fixed interest securities|810|2,175|
|Dividends<br>from equities|72,549|67,722|
|Interest on cash deposits and loans|90|3|
||73,449|69,900|
|COSTS OF CHARITABLE ACTIVITIES|2023|2022|
||E||
|Charitable<br>donations (see note 4)|91,620|197,800|
|Administrative<br>expenses|4,698|3,433|
||96,318|201,233|
|GRANTS PAYABLE|2023|2022|
||E||
|Grants to institutions:|||
|Charitable<br>donations|91,620|197,800|



|GOVERNANCE COSTS|2023|2022|
|---|---|---|
||E||
|Audit and accountancy fees|3,991|3,912|





## 

|INVESTMENT ASSETS|2023f|2022|
|---|---|---|
|Quoted investments|2,075,295|2,169,971|
|Unquoted<br>investments|24,750|195,150|
||2,100,045|2,365,121|



|Opening<br>market value|Opening<br>market value|||2,365,121|2,702,188|
|---|---|---|---|---|---|
|Additions||||380,810|51,083|
|Disposals||||(431,166)|(177,270)|
|Gains/(losses)|on disposals|||53,485|3,177|
|Net unrealised|investment||gains/(losses)|(268,205)|(214,057)|
|Closing market value||||2,100,045|2,365,121|
|Closing historical cost||||1,702,149|1,707,064|
|Investments<br>held at 5April||which are over 5%ofthe portfolio by||||
|value are:||||2023|2022|
|James Halstead<br>Pic||||358,560|447,360|
|Youngs 8 Co|Pic|||310,536|310,536|
|Fuller Smith 8|Turner Pic||||213,000|
|Nichols Pic||||221,500|272,000|
|John Menzies|Pic|||170,400|144,300|
|PZ Cussons Pic||||130,624|160,370|
|Henderson<br>High Income||Trust Pic|||136,361|
|Henderson<br>International||Income Trust Pic||76,800|121,450|
|Devro Pic||||147,572|62,550|
|Amalgamated|Metal Corp Pic|||121,450|27,750|
|DEBTORS||||2023|2022|
|||||E|E|
|Prepayments|and accrued||income|198|188|
|Other Debtors||||1,503|948|
|||||1,701|1,136|
|CREDITORS:|amounts|falling due within one year||2023|2022|
||||||E|
|Other creditors||||4,032|4,032|





|9.|UNRESTRICTED|INCOME FUNDS|INCOME FUNDS|2023|2022|
|---|---|---|---|---|---|
||Opening<br>balance|||2,384,969|2,730,172|
||Movement<br>in funds|during|year|(241,580)|(345,203)|
||Closing balance|||2,143,389|2,384,969|



## 

## 

##