2021-04-05-accounts - The George Cadbury Trust (Edward Cadbury Section)

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		NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	NAME IS GEORGE CADBURY FUND	'A' ACCOU	'A' ACCOU	NT	NT
		Report and Financial Statements for the year								ended 5 April		2021
Contents
Page.'
		Reference and Administration				details
2.4		Report of the Trustees
		Report ofthe Independent			Examiner
		Statement of Financial		Activities
		Balance Sheet
8-12		Notes forming part of		the	Financial Statements
Trustees
		Mr Tim Cadbury
		Mr Mark Cadbury
		Mr Roger VJ Cadbury
		Mrs A Janie Cadbury
		Mr Benedict Cadbury
Prlndpal	Office
		BDO LLP, 2 Snowhill,	Birmingham,				84 6GA
Accountants
		BDO LLP, 2 Snowhill,	Birmingham,				84 6GA
Independent		Examiner
		R MacLaren, Michael		Dufty		Partnership		Limited,		61 Charlotte		Street, The Counting		House,
		Birmingham, 83 1PX
Investment		Managers
		Smith and WRIIamson		Investment			Management,		3rd Floor, 9Colmore Row, 8328J
Bankers
		Lloyds Bank, University		of	Birmingham			Branch,	142 Edgbaston		Park Road, Birmingham,			815 2TY
		The Charity Bank Limited,			Fosse House,			182 High Street, Tonbridge,					TN9 18E

		Notes	2021	2020
			E	E
income and endowments	from
Investments			164,236	190,669
Total			164,236	190,669
Expenditure on
Raising funds			27,696	26,624
Charitable activities
Activities undertaken			341,130	170,000
Support costs			692	792
Other expenditure			7,607	8,323
Total			377,125	205,739
Net (expenditure)/income	before
investment gains/(losses)			(212,889)	(15,070)
Net gains/(losses) on investments			2,251,376	(1,199,579)
Net income/(expenditure)			2,038,487	(1,214,649)
Total funds at 6 April 2020			6,956,245	8,170,894
Total funds at 5 April 2021		10	8,994,732	6,956„245

2	Investment income				2021		2020
					E		E
	Dividend and interest	from	quoted investments		163,910		190,398
	Interest on cash deposits				326		271
					164,236		190,669
3	Raising Funds				2021		2020
					E		E
	Investment managers	fees			27,696		26,624
4	Charitable Activities		Activities
			Undertaken		Support	Total	Total
			Directly		Costs	2021	2020
			(see	note 5)	(see note 6)
				E	E
	Woodbrooke - College
	Bursaries and subscriptions			35,000		35,000	35,000
	Grants paid or payable			306,130	692	306,822	135,792
				341,130	692	341,822	170,792
5	Grants paid or payable				202'I		2020
					E		E
	Subscrlptions
	Woodbrooke - College	Bursaries and subscriptions			35,000		35,000
	Donations
	Alton Quaker				5,000		1,000
	Avon Croft Museum						5,000
	Bootham School				5,000		5,000
	Boumville Carillon						3,000
	Boumville Friends Meeting		House		5,000		500
	Boumville Quaker Meeting						1,000
	Boumville Village Trust (Note)				35,000		7,000
	Carried Forwards				85,000		57,500

	THE GEORGE CA	DBURY TRUST (EDWARD CA GEORGE CADBURY	DBURY TRUST (EDWARD CA GEORGE CADBURY	DBURY SECTION) WHOSE WORKI FUND 'A' ACCOUNT	NG NAME IS
		Notes tothe financial statements		for the year ended 5 April 2021
5	Grants paid or payable (continued)			2021	2020
				E	E
	Brought Forwards			85,000	57,500
	Britain Yearly Meeting			6,000
	Bryony House			7,300	8,300
	Chawton House Library			2,000
	Chiltems Area Quaker Meeting				2,000
	Cork Monthly Meeting			5,00D	1,000
	Gloucestershire Area Quaker Meeting				2,500
	Horsham Quaker Meeting				1,000
	Ironbridge Gorge Museum	Trust		18,000
	JaiJagat 2020 - unpresented			(2,000)	2,000
	Jordan's Village Hall Trust			12,000
	Leighton Park Trust			10,000
	Owvestry Quaker Meeting			7,500
	Quaker Christmas Parcels			3,000	2,000
	Quaker International Educational		Trust	25,000
	Quaker Social Action			9,000
	Rose Hill Trust Ironbridge	Museum		20,000	3,000
	Sally Manor (Note)			24,000	40,000
	Sibford School			io,ooa	10,000
	Sidcot School			32,000	17,700
	SOF 8ournville Friends Meeting			5,000
	Stoubridge Quakers				1,000
	The Friend Publications Ltd			10,000
	Warwick Local Meeting				1,000
	West Wiltshire end East Somerset		AM	1,330
	Winchester Meeting House				1,000
	Woodbrooke Quaker Study	Centre		51,000	20,00D
				341,130	170,000

Investments					2021		2020
Market value at 6 April 2020						6,685,984		7,974,353
Acquisition cost in the year			3,416,638				1,656,D24
Disposals in the year			(3,496,181)				(1,744,814)
						(79,543)		(88,790)
Rea(ised gains on disposals				799,094			596,532
Movement in unrealised valuation			1,452,282				(1,796,111)
						2,251,376		(1,199,579)
Market value at 5 April 2021						8,857,817		6,685,984
Cash held within the investment		portfolio				39,994		89,411
Total value ofportfolio at	SApril	2021				8,897,811		6,775,395
Historical cost at 5 April 2021						6,840,398		6,120,848
At 5 April 2021 the market	value	is divided:
Bonds - 8 holdings							1,945,145	21.90%
Alternatives 8 Multi-Asset	-7 holdings						2,092,482	23.50%
UK Equities ~ 6 holdings							1,604,053	18.00%
USA - 4 holdings							1,223,757	13.80%
Europe - 2 holdings							342,843	3.90%
Japan - 1 holdings							229,900	2.60%
Pacific Basin ex Japan - 2 holdings							637,937	7.20%
Emerging Markets - 2 holdings							781,700	8.70%
							8,857,817	99.60%
Uninvested cash capital							39,994	0.40%
							8,897,811	100.0D%
The following investments	in the	portfolio exceeded			5%;
							Market
							Value
Polar Capital Funds Global	Convertible		I GBP DIS				472,160	5.3%
Vanguard Investment Series GLobal Credit BD Investor					GBP Inc	HDG	524,782	5.9%
BBGIGlobal Infrastructure	S.A. Ord NPV						465,480	5.2%
3i Infrastructure Ord NPV							563,350	6.3%
Alphabet Inc							446,701	5.0%
Ashoka India Equity Inv Trust PLC Ord			GBP0.01				491,700	5.5%