| Principal Office | Principal Office | Guy Scadding Building, Dovehouse Street, London SW3 6LY |
Guy Scadding Building, Dovehouse Street, London SW3 6LY |
Guy Scadding Building, Dovehouse Street, London SW3 6LY |
Guy Scadding Building, Dovehouse Street, London SW3 6LY |
Guy Scadding Building, Dovehouse Street, London SW3 6LY |
|---|---|---|---|---|---|---|
| Trustees | Richard Reid, Chairman | |||||
| Magdalene Brereton |
||||||
| Professor Edwin Chilvers | ||||||
| Professor Kim Fox |
||||||
| Professor Sir Malcolm Green | ||||||
| Dr Michael Harding | ||||||
| Ludovic Lindsay | ||||||
| Baroness (Sally) Morgan of Huyton | ||||||
| Dr Paul Oldershaw | ||||||
| Secretary to | the Trustees Mrs Caroline M Wicks |
|||||
| Bankers | The Royal Bank ofScotland pic | |||||
| 36StAndrew Square, Edinburgh | EH2 2YB | |||||
| Auditors | Knox Cropper LLP, Chartered |
Accountants, | ||||
| 6S Leadenhall Street, London |
EC3A 2AD | |||||
| Investment | Manager | Sarasin &Partners LLP |
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| Juxon House, 100St.Paul's Churchyard, | London | EC4M BBU | ||||
| Website | www. nhlif. info |
| by Sarasin | investment m |
anagers:- | ||
|---|---|---|---|---|
| 2020 | 2019 | |||
| f | f | |||
| Investment | in unit trusts | 17,378,984 | 17,413,979 | |
| Cash held | for investment | purposes | 14,094 | 57,044 |
| E17,393,078 | E17,471,023 |
| Fixed Income | Fixed Income | 2,700,740 | 2,426,169 |
|---|---|---|---|
| Equities | 11,346,592 | 12,409,810 | |
| Property | 919,605 | 1,571,450 | |
| Alternative | Assets | 1,815,746 | 676,184 |
| Liquid Assets | 596,301 | 330,366 | |
| E17,378,984 | E17,413,979 |
| Notes | 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|
| FIXEDASSETS | ||||||||
| Investments | 7-9 | 22 303 D53 | 22 380998 | |||||
| 22,303,053 | 22,380,998 | |||||||
| CURRENT ASSETS | ||||||||
| Debtors | 10 | 22,258 | 49,560 | |||||
| Cash at Bank | 37172D | 166461 | ||||||
| 393,978 | 216,021 | |||||||
| Creditors: Amounts within one year |
falling | due | 11 | ~811899 | I 196309 | |||
| Net Current Assets (Liabilities) |
/ | (417,921) | (980,288) | |||||
| Total Assets less current liabilities |
21,855,132 | 21,400,710 | ||||||
| Creditors: Amounts |
falling | due | ||||||
| after one year | 12 | (783,796) | (330,475) | |||||
| TOTAL NET ASSETS | 621 1D1 336 | 521070 235 | ||||||
| RESTRICTED FUNDS | 13 | 2,026,927 | 2,243,910 | |||||
| CAPITAL FUNDS | ||||||||
| Expendable Endowment |
13,14 | 16,134,451 | 15,854,666 | |||||
| INCOME FUND | ||||||||
| Unrestricted General |
Fund | 13 | 2 939958 | 2 971659 | ||||
| TOTAL FUNDS | F21,101,336 | 621,070,235 |
| 5.CHARITABLE ACTIVITIES | 5.CHARITABLE ACTIVITIES | 5.CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|---|---|
| Qirect Grants to NHLI Faculty of Medicine Imperial | College London | 2020 | 2019 | |||
| E | ||||||
| - Endowment | Fund | |||||
| - General | Fund | 628,837 | ||||
| -VRFT | 350,000 | |||||
| Support Costs (see note | 6) | 16018 | 68 | 954 | ||
| 6994865 | 668 | 954 | ||||
| 6.SUPPORT COSTS | ||||||
| Payment to auditors: | Audit fees | 5,400 | 5,220 | |||
| Secretarial costs | 10,333 | 10,311 | ||||
| Repairs and maintenance | 53,308 | |||||
| Bank Charges | 295 | 115 | ||||
| 6161118 | 168 | 954 |
| . INVESTMENTS | |||
|---|---|---|---|
| 2020 | 2029 | ||
| E | E | ||
| Social Investments | 4,909,975 | 4,909,975 | |
| Quoted Investments | 17,378,984 | 17,413,979 | |
| Cash held forinvestment | purposes | 14094 | 57 044 |
| Total Investments | 822,303,053 | E22,380,998 |
| 2020 | 2019 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 8 | ||||||||||
| Balance | at | la | August | 2019 | and | at | 31"July | 2020 | H, | 909,975 | 84,909,975 |
| 2020 8 |
2019 f |
||||||
|---|---|---|---|---|---|---|---|
| (a) | Quoted investments | (at | market | value) | |||
| - | NHLIF | 14,815,294 | 146990/054 | ||||
| - | Viscount Royston | Fellowship | Trust | 2 563 690 | 2 623 925 | ||
| 17,378,984 | 17,413,979 | ||||||
| Cash held for investment | purposes | ||||||
| NHLIF | 12,057 | 48,408 | |||||
| - | Viscount Royston | Fellowship | Trust | 2 037 | 6 636 | ||
| 817,393,078 | 117,471,023 |
| 2020 | 2019 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| f | f | ||||||||||
| (b) | Movements in quoted investments Balance brought forward at 1"August 2019 |
17,413,979 | 16,171,792 | ||||||||
| Additions | 642,809 | 534,570 | |||||||||
| Sale proceeds | (1,127,011) | (119,067) | |||||||||
| Realised and unrealised | gain/(loss) | - NHLIF | 384,065 | 711,682 | |||||||
| - VRFT | 65 142 | 115D02 | |||||||||
| Balance carried | forward | at | 31"July | 2020 | 17,378,984 | f17,413,979 | |||||
| Investments at |
Cost —NHLIF | f12,579,143 | f12,889,941 | ||||||||
| Investment at |
Cost —VRFT | f1,734,663 | f1,642,254 | ||||||||
| (c) | Investments held comprise |
units in | one unit trusts: | ||||||||
| 5,135,210(2019:5,465,557) - Sarasin Alpha Charity | Fund | 14,815,294 | 14,990,054 | ||||||||
| (Accumulation) | |||||||||||
| 888,614(2019:883,793) - Sarasin | Alpha Charity | Fund | 2,563,690 | 2,423,925 | |||||||
| (Accumulation) | —VRFT | ||||||||||
| f17,378,984 | f17,413,979 | ||||||||||
| (d) | The units held | in | unit trusts | include | the following | asset | allocations:- | ||||
| Fixed Income | 2,700,740 | 2,426,169 | |||||||||
| Equities | 11,346/592 | 12,409,810 | |||||||||
| Property | 919,605 | 1,571,450 | |||||||||
| Alternative Investments |
1815,746 | 676,184 | |||||||||
| Liquid Assets | 556 301 | 33D 366 | |||||||||
| f17/378,984 | f17/413,979 | ||||||||||
| 10. | DEBTORS | ||||||||||
| other Debtors |
| LIABILITIES: amounts | LIABILITIES: amounts | falling due | within one year | within one year | within one year | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
| Grants payable to Imperial | College London | —VRFT - General Fund |
f 120,833 381,510 |
f 62,500 469,207 |
||||
| Audit and Accountancy Professional Fees Other Creditors and deferred |
income | —Endowment | Fund | 277,063 5,340 750 26 903 |
631,790 5,160 750 26 902 |
|||
| f811,899 | f1,196,309 | |||||||
| GRANTS PAYABLE | ||||||||
| Commitments at 1"August Commitments made in the Commitments made in the |
2019 year year - - |
Genera! Fund Endowment |
Fund | 2020 f 1,493,972 628,837 |
2019 f 2,126,401 |
|||
| Commitments made Commitments made |
in the in the |
year year - VRFT - COPD |
350,000 | |||||
| Grants paid during the year Grants paid during the year Commitments at 31uJuly 2020 - General Fund - VRFT |
(859,607) ~50 DI10 f1,563,202 |
(594,929) ~37 5DD I1,493,972 |
||||||
| Commitments at31"July 2020 are payable |
as follows: | |||||||
| Within one year | - General Fund |
381,510 | 469,207 | |||||
| - | Endowment | Fund | 277,063 | 631,790 | ||||
| -VRFT | 12D 033 | 62 500 | ||||||
| After one year | - NHLIF | 779406 442,129 |
I 163497 230,475 |
|||||
| - VRFT | 341667 | 100000 | ||||||
| 703 796 | 330675 | |||||||
| 61 563 202 | 61693972 | |||||||
| FUNDS | ||||||||
| Balance | Balance | |||||||
| Brought | Investment | Resources | Carried | |||||
| unrestnctea runes |
Forward at 1 August 2019 |
Gain/(Loss) | Income | Expended | Forward at 31300lv 2020 |
|||
| General funds Endowment Funds |
2,971,659 15854 666 |
104,280 279785 |
581,204 | (717,185) | 2,939,958 16134451 |
|||
| Restricted Funds | 18,826,325 | 384,065 | 581,204 | (717,185) | 19,074,409 | |||
| Viscount Royston | ||||||||
| Fellowship Trust |
2 243 910 f21 070235 |
65 142 f449 207 |
79 472 f660 676 |
361597 f 1078782 |
2 026 927 f21 101336 |