#
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|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||
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|||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|
##
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##
##
|||||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|
##
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##
##
|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|
##
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##
##
||||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|
##
##
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##
|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|