KIPPS MEMORIAL TRUST
CHAIRMAN’S AND TRUSTEES REPORT FOR THE YEAR 2021
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The Kipps Memorial Trust continued to pay for Caxton PCC’s contribution to the Papworth Team Ministry for their allocated cost of clergy expenses.
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The trust changed its investment policy to provide some spread across its investments and now employs CCLA as the second of its investment managers in addition to M&G Charifund.
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Some funds have again been accumulated to maintain the real value of the original bequest.
4. The Accounts have been audited by Mr Andrew Herbert.
- The trustees thanked Mr Tim Pearce-Higgins for the work he put into the creation of the original trust in 1995, and for the contribution he has made as trustee over the past 27 years.
NHAP 31.10.22
Kipps Memorial Trust — Accounts for the 12 months ending 31/12/21
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| have examined the income and expenditure statement and balance sheet of the Kipps Memorial Trust for the 12 months ending 31/12/21 and have reconciled movements in balances to bank and investment statements.
| can confirm that, in my opinion the accounts represent a true record of transactions during the period.
Andrew Herbert FCMA 15 August 2022
The Old Farmhouse 51 Caxton End Bourn
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Kipps Memorial Trust Summary of financial records for the 12 months to 31/12/2021
| 1 Bank Accounts | 1 Bank Accounts | 3. Income Statement | 3. Income Statement | 5. Balance Sheet | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Barclays | CommunityAccount (1094336) | At 1/1/21 | £ 2511,35 |
Income | M&G Charifund | £ 30716.22 |
At31/12/21 | 31/12/21 | At31/12/20 | Change | ||||
| From BPA2 | 48228.39 | COIF Charity Funds | 999,49 | £ | £ | £ | ||||||||
| From Coif Charities Investment | 999.49 | interest received | 5,81 | Investments | 697485.14 | 56973189 | 127753.26 | |||||||
| Payments | Papworth Team Coif Charities Investment Trust |
-2958.96 -45000 |
31721,52 eee |
Cash Net Assets |
63434.48 —82872.06 -19437,58 en |
|||||||||
| DonationWCYM | ~3200 | Expenditure | PapworthTeam | ~2958,96 | ||||||||||
| At 31/12/21 | Interest paid | -0,14 580,13 coer |
Interest paid Donations WCYM |
-0,14 ~3200,00 pemreettonbvivdibiney -6159,10 |
Liabilites Total Net Assets |
9 0 ie) iii mii 760919.62 652603.95 10831568 |
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| Business Premium Account (93846067) BPA1 | At 1/1/21 | 5401.24 | ||||||||||||
| Receipts | Interest received | a 0,52 |
Net Surplus | 25562,42 | ||||||||||
| At 31/12/21 | 5401.76 | |||||||||||||
| Sximntmot | ||||||||||||||
| Change in value of investments | 127753.26 | |||||||||||||
| Business Premium Account (20582603) BPA2 | At 1/1/21 | 74959,47 | ||||||||||||
| Receipts | M&G Charifund | 30716,22 | Net transfer to reserves | _. 153315,68 |
||||||||||
| Interest received | 5,29 | |||||||||||||
| Payments | To CommunityAccount | -48228.39 | ||||||||||||
| At 31/12/21 | $7452.59 | |||||||||||||
| seaman | ||||||||||||||
| 4. Cash Flow | ||||||||||||||
| 2. Investments | Opening cash balances | 82872.06 | ||||||||||||
| Closing Cash | Balances | 63434.48 | ||||||||||||
| M&G Charifund | Units | Atd/y/21 | 41508,403 | Net Movement | ~19437.58 | |||||||||
| At 31/12/21 | 41508,403 | |||||||||||||
| Change | 0 emetic |
Receipts | 31721,52 | |||||||||||
| Payments | ~6159,10 | |||||||||||||
| Unitvalue | At 1/1/21 (p) | 1372.57 | Payments (Investments) | -45000 | ||||||||||
| At 31/12/21 (p) | 1556.20 | Net Movement | -19437,58 | |||||||||||
| Change (p) | meee 183,63, | |||||||||||||
| Total Investment | Value | At 1/1/21 (£) | 56973189 | |||||||||||
| ma | At 31/12/21 (£) | 645953.77 | ||||||||||||
| . | Change (£) * |
76221,88 ue |
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| COIF Charity Funds (139010001T} | Units | Atd/4/24 | 0 | |||||||||||
| Purchase | =On | On 25/03/2021 | 2505.61 | : | ||||||||||
| At 31/12/21 (mid) | 2505.61 | |||||||||||||
| Change | 2505.61 Soc |
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| Unit value | At 1/1/21 (p) | 0 | ||||||||||||
| On 25/03/2021 (p} | 1795.97 | |||||||||||||
| At 31/12/21 (p) | 2056.64 | |||||||||||||
| Change (p) | 2056.64 | |||||||||||||
| Value | At 1/1/21 (£) | 0.00 | ||||||||||||
| On 25/03/2021 (£) | 45000.00 | |||||||||||||
| At31/12/21 (£) | 51531.38 | |||||||||||||
| Change (£) | 51531,38 |
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Kipps Memorial Trust — Accounts for the 12 months ending 31/12/21
| have examined the income and expenditure statement and balance sheet of the Kipps Memorial Trust for the 12 months ending 31/12/21 and have reconciled movements in balances to bank and investment statements.
| can confirm that, in my opinion the accounts represent a true record of transactions during the period. oS
Andrew Herbert FCMA 15 August 2022
The Old Farmhouse 51 Caxton End Bourn