| year, new grant commitments | tota | lling E9 |
08,837 | , w | ere made. |
||
|---|---|---|---|---|---|---|---|
| Performance | |||||||
| The total value of the Foundation's | investments | at | 31 July 2021 was E18,927,058 (E17,393,078 | ||||
| at 31 July 2020). There is no investment |
in tobacco related compames. | Investments | are held | ||||
| exclusively in trusts managed |
by Sarasin investment | managers:- | |||||
| 2022 | 2021 | ||||||
| E | |||||||
| Investment in unit trusts |
17,776,031 | 18,896,173 | |||||
| Cash held for investment | purposes | 242,114 | 30 885 | ||||
| E18,018,145 | E18,927,058 | ||||||
| The units held in unit trusts include the following | asset allocations:- | ||||||
| Fixed Income | 1,396,851 | 1,925,553 | |||||
| Equities | 10,440&971 | 13,426,651 | |||||
| Property | 2,048,498 | 1,262,777. | |||||
| Alternative Assets |
2&516&865 | 1,764,853 | |||||
| Liquid Assets | 1 614 960 | 547 224 | |||||
| E18 018 145 | E18,927,058 |
| Notes | 2022 | 202i | |||||
|---|---|---|---|---|---|---|---|
| FIXEDASSETS | |||||||
| Investments | 7.9 | 22 928 1211 | 23 837633 | ||||
| 22,928,120 | 23,837,033 | ||||||
| CURRENT ASSETS | |||||||
| Debtors | 10 | 15,830 | 3,079 | ||||
| Cash at Bank | 256 594 | 523 252 | |||||
| 272,424 | 526,331 | ||||||
| Creditors: Amounts |
falling due | ||||||
| within one year | II | ~1194762 | ~776 287 | ||||
| Net Current Assets (Liabilities) |
/ | (922,338) | (249,956) | ||||
| Total Assets less current liabilities |
22,005,782 | 23,587,077 | |||||
| Creditors: Amounts | falling due | ||||||
| after one year | 12 | (456,667) | (820,792) | ||||
| TOTAL NET ASSETS | 621549 115 | 622 766 285 | |||||
| RESTRICTED FUNDS | 13 | 2,336,438 | 2,320,461 | ||||
| CAPITAL FUNDS | |||||||
| Expendable Endowment |
13, 14 | 15,558,903 | 16,730,931 | ||||
| INCOME FUND | |||||||
| Unrestricted General |
Fund | 13 | 3 653 774 | 3 714893 | |||
| TOTAL FUNDS | E21,549,115 | 822,766,285 |
| CASH FLOWS FROM OPERATING ACTIVITIES | CASH FLOWS FROM OPERATING ACTIVITIES | Notes | 2022 | 2021 |
|---|---|---|---|---|
| Cash used by operations | (856,712) | (933,407) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Investment income received |
500,137 | 5527914 | ||
| Proceeds from the sale of investments Purchase of investments |
801,048 ~499902 |
1,101,659 ~552843 |
||
| 801,283 | 1,101,730 | |||
| Change in cash and cash equivalents |
in the | |||
| reporting period |
(55,429) | 168,323 | ||
| Cash and cash equivalents at the beginning |
ofthe | |||
| reporting period |
554 137 | 305814 | ||
| Cash and cash equivalents at the end |
ofthe | |||
| reporting period |
497 700 | 554 137 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| Net (expenditure)/income for |
the reporbng | period (as per the Statement | of | (1,217,170) | 1,664,950 | ||
| Financial Activities) |
|||||||
| Investment income |
received | (500,137) | (552,914) | ||||
| (Gains)/losses in investments |
(excluding | within cash balances) | 818,996 | (2,066,005) | |||
| (Increse)/Decrease | in debtors | (12,751) | 19,179 | ||||
| Increase in creditors |
54350 | 1 383 | |||||
| Net cash used by | operations | ~050 712 | ~933407 |
| At 1August | Cash flow | At 31luly 2022 | ||||
|---|---|---|---|---|---|---|
| 20216 | E | |||||
| Cash | at bank and | in hand | 523,252 | (266,658) | 256,594 | |
| Cash | held by investment | manager | 30885 554 137 |
211229 ~50 429 |
242 114 498 708 |
| NHLF | VRFT | TOTAL | 2021 | ||||
|---|---|---|---|---|---|---|---|
| 6 | 6 | 6 | |||||
| Donations | 26,904 | 26,904 | 14,539 | ||||
| Legacies | 111278 | 111278 | 63 930 | ||||
| 138182 | 138182 | 78,469 | |||||
| VESTME | NT INCOME | -----------2022—————------— | |||||
| NHLF | VRFT | TOTAL | 2021 | ||||
| 6 | 6 | 6 | 6 | ||||
| Income from listed investments | 339,376 | 160,607 | 499,983 | 552,860 | |||
| Interest on | cash deposit | 154 | 154 | 54 | |||
| 339530 | 160607 | 500 137 | 552 914 | ||||
| AISING FUNDS | ------------2022--------- | ||||||
| NHLF | VRFT | TOTAL | 2021 | ||||
| 6 | 6 | 6 | |||||
| Investment | Management | Fees | 14,365 | 13,986 | 88,351 | 104,605 | |
| Advertising | 1,605 | 1,605 | 1,605 | ||||
| Computer | Support | 332 | 332 | 1,105 | |||
| Professional | Fees | ||||||
| 76302 | 13986 | 90288 | 107315 |
| 5.CHARITABLE ACTIVITIES | 5.CHARITABLE ACTIVITIES | 5.CHARITABLE ACTIVITIES | |||
|---|---|---|---|---|---|
| oirect Grants to NHLI Faculty of I4edicine Imperial | College London | 2022 | 2021 | ||
| - Endowment | Fund | 700,000 | 700,000 | ||
| - General | Fund | 208,837 | 209,437 | ||
| - VRFT | |||||
| Support Costs (see note 6) | 37 368 | 15687 | |||
| E946 285 | E925 124 | ||||
| 6.SUPPORT COSTS | |||||
| Payment to auditors: | Audit fees | 5,640 | 5,400 | ||
| Secretarial costs | 12,142 | 10,184 | |||
| Legal costs | 19,437 | ||||
| Bank Charges | 149 | 103 | |||
| E37368 | E15687 |
| INVESTMENTS | |||
|---|---|---|---|
| 2022 | 2021 | ||
| E | E | ||
| Social Investments | 4,909,975 | 4,909,975 | |
| Quoted Investments | 17,776,031 | 18,896,173 | |
| Cash held f'or investment |
purposes | 242 114 | 38885 |
| Total Investments | 622,928,120 | 623,837,033 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 8 | |||||||||
| Balance | at | 1"August | 2021 | and | at | 31"July | 2022 | 14,909,975 | 64,909,975 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| 8 | F. | |||||||
| (a) | Quoted investments | (at | market | value) | ||||
| - | NHLF | 14,914,610 | 15,960,188 | |||||
| - | Viscount | Royston | Fellowship | Trust | 2 861421 | 2 935985 | ||
| 17,776,031 | 18,896,173 | |||||||
| Cash held | for investment | purposes | ||||||
| NHLF | 225,097 | 21,869 | ||||||
| - | Viscount | Royston | Fellowship | Trust | 17917 | 9816 | ||
| E18/018/145 | 618,927,058 |
| 2022 | 2021 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| E | |||||||||||
| (b) | Movements in quoted investments Balance brought forward at 1"August 2021 |
18,896,173 | 17,378,984 | ||||||||
| Additions | 499,902 | 552/843 | |||||||||
| Sale proceeds | (801,048) | (1,101,659) | |||||||||
| Realised and unrealised | gain/(loss) | - NHLF - VRFT |
(688,352) ~330644 |
1,756,565 309440 |
|||||||
| Balance carried forward | at | 31"Iuly | 2022 | 17,776,031 | 18,896,173 | ||||||
| Investments at Cost —NHLF |
E12,193/080 | E12,288,751 | |||||||||
| Investment at Cost —VRFT |
E1,895,232 | E1,817,128 | |||||||||
| (c) | Investments held comprise |
units in | one unit trusts: | ||||||||
| 4,631,735(2021:4,830,561) —Sarasin Alpha | Charity | Fund | 14,914,610 | 15,960,188 | |||||||
| (Accumulation) | |||||||||||
| 888,614(2021:888,614) | - | Sarasin | Alpha Charity | Fund | 2,861,421 | 2,935,985 | |||||
| (Accumulation) —VRFT |
|||||||||||
| E17,776,031 | E18,896,173 | ||||||||||
| (d) | The units held in unit trusts | include the following | asset | allocations:- | |||||||
| Fixed Income | 1,396,851 | 1,925,553 | |||||||||
| Equities | 10,440,971 | 13,426,651 | |||||||||
| Property | 2,048,498 | 1,262,777 | |||||||||
| Alternative Investments |
2,516,866 | 1,764,853 | |||||||||
| Liquid Assets | 1 372 845 | 516339 | |||||||||
| E17,776,031 | E18,896,173 | ||||||||||
| 10. | DEBTORS | ||||||||||
| Other Debtors | 15830 | 3079 | |||||||||
| F15,830 | E3,079 |
| Balance | Balance | ||||||
|---|---|---|---|---|---|---|---|
| Brought | Investment | Resources | Castled | ||||
| Forward at 1 August 2020 |
Gain/(Loss) | Income | Expended | Forward at 313uly 2021 |
|||
| Unrestricted | Funds | ||||||
| General | funds | 2,939,958 | 460,085 | 631,383 | (316,533) | 3,714,893 | |
| Endowment | Funds | 16134451 | 1296480 | 700 000 | 16730931 | ||
| 19,074,409 | 1,756,565 | 631,383 | (1,016,533) | 20,445,824 | |||
| Restricted | Funds | ||||||
| Viscount | Royston | ||||||
| Fellowship | Trust | 2026 927 | 309440 | 15906 | 2 320461 | ||
| 621 101336 | K2 066005 | 6631383 | I 1032439 | 622 766 285 |
| e reaown etween |
ns o ncome an —— -Unrestricted |
expenture o Funds---- |
r te year endi | ng July |
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| General | Endowment | Viscount | 2021 | |
| Fund | Fund | Royston | Total | |
| Fegowshlp | ||||
| Fund | ||||
| E | ||||
| INCOME AND ENDOWMENTS | ||||
| FROM: | ||||
| Donations and Legacies |
||||
| Voluntary Income |
||||
| Charitable Activities |
78,469 | 78,469 | ||
| investment Income |
||||
| 552914 | 552 914 | |||
| TOTAL INCOME | 631383 | 631383 | ||
| EXPENDITURE ON: | ||||
| Raising Funds | 91,409 | 15,906 | 107,315 | |
| Charitable Activities |
225 124 | 700 000 | 925 124 | |
| TOTAL RESOURCES EXPENDED | 316533 | 700 000 | 15906 | I 032439 |
| Gain/(Loss) on Investments |
460085 | I296480 | 309450 | 2 066 005 |
| NET MOVEMENT IN FUNDS | 774,935 | 596,480 | 293,534 | 1,664,949 |
| Fund Balances at 1"August 2020 |
2 939958 | 16134451 | 2 026927 | 21 101336 |
| FUND BALANCES | ||||
| AT 31w IULY 2021 | E3714893 | E16730931 | E2,320461 | E22766285 |