Summary of accounts
Audited accounts can be accessed via the Charity Commission.
| Year ending | 2007/08 | 2008/09 | 2009/10 |
|---|---|---|---|
| Gross income | 168.3 | 164.7 | 144.0 |
| Investment management | 46.5 | 37.8 | 43.0 |
| Charitable grants | 156.1 | 204.3 | 238.3 |
| Other charitable activities | 20.0 | 22.2 | 22.5 |
| Governance | 6.7 | 6.5 | 7.0 |
| Net inflow/(outflow) of resources |
(61.1) | (106.1) | (166.8) |
| Net investment gains/losses |
(365.6) | (2,184.3) | 1,826.7 |
| Fund balances | 6,259.1 | 3,968.8 | 5,628.7 |
Notes:
1. All figures £000s.
2. Charitable grants are amounts paid out.
3. Governance includes fees for audit and accountancy.
4. Net investment gains/(losses) reflect changes in stock market values, realised and unrealised.
5. Fund balances are at valuation on 5th April.
The Trustees' investment policy is to maximise the growth of capital and income. As a guide to what can be spent on grants they use an estimate of the Foundation's annual income, but they also have the power to draw on capital annually.