| Contents | ~Pa e | ||
|---|---|---|---|
| Trustees' Report |
1-6 | ||
| Independent Examiner's |
Report | ||
| Statement ofFinancial Activities |
|||
| Balance Sheet | |||
| Notes to the Financial Statements | 10-14 | ||
| The following pages do |
not form part ofthe statutory | accounts: | |
| Schedule of Investments | 15-17 | ||
| Purchase ofInvestments | 18 | ||
| Sale of Investments | 19 |
| REFERENCE | AND ADMINISTRATIVE DETAILS |
AND ADMINISTRATIVE DETAILS |
AND ADMINISTRATIVE DETAILS |
AND ADMINISTRATIVE DETAILS |
||
|---|---|---|---|---|---|---|
| CHARITY NAME: | The Charlton | Bequest | and | Dispensary | Trust | |
| CHARITY NUMBER: | 1055160 | |||||
| OPERATIONAL | ADDRESS: | 24 Green Close | ||||
| Tynemouth | ||||||
| Tyne &Wear | ||||||
| NE30 2TY | ||||||
| BANKERS: | Lloyds Bank | pic | ||||
| 69Bedford Street | ||||||
| North Shields | ||||||
| NE29 OAU | ||||||
| INDEPENDENT | EXAMINER | EJ Hartshorne-Ferguson | BA FCA | |||
| Bell Tindle Williamson | LLP | |||||
| The Old Post | Office | |||||
| 63Saville Street | ||||||
| North Shields | ||||||
| Tyne &Wear | ||||||
| NE30 1AY | ||||||
| TRUSTEES |
| THE CHARLTON BEQUEST AND DISPEN | THE CHARLTON BEQUEST AND DISPEN | SARY TRUST | |||
|---|---|---|---|---|---|
| STATEMENT OF FINANCIAL ACTIVITIES | FOR THE YEAR | ENDED | |||
| 31 MARCH 2023 | |||||
| Unrestricted | Restricted | Total | Total | ||
| Notes | Funds | Funds | 2023f | 2022 8 |
|
| INCOME: | |||||
| Bank interest received | 7 | ||||
| Investment income |
18,992 | 18,992 | 16,013 | ||
| Income from charitable activities |
|||||
| Property Income |
|||||
| 47 Linskill Terrace - Gross rents | 26,865 | 26,865 | 25,510 | ||
| 63 Percy Park Road - Gross | rents | 23,830 | 23,830 | 28,085 | |
| TOTAL INCOMING RESOURCES |
69,687 | 69,687 | 69,615 | ||
| EXPENDITURE | |||||
| Expenditure on Charitable |
Activities | ||||
| Property Expenses: | |||||
| 47 Linskill Terrace | 8,603 | 8,603 | 26,414 | ||
| 63 Percy Park Road | 14,399 | 14,399 | 8,051 | ||
| Governance costs |
2 | 13,294 | 13,294 | 11,643 | |
| 36,296 | 36,296 | 46,108 | |||
| NET INCOMING RESOURCES |
|||||
| BEFORE OTHER RECOGNISED | |||||
| GAINS/(LOSSES) | 33,391 | 33,391 | 23,507 | ||
| Realised (losses)/gain on disposal of |
|||||
| investments | 3 | (3,271) | (527) | (3,798) | 1,528 |
| SURPLUS FOR YEAR | 30,120 | (527) | 29,593 | 25,035 | |
| Unrealised (losses)/gain on |
|||||
| investment assets |
(52,084) | (4,757) | (56,841) | 96,110 | |
| Property revaluation surplus |
80,307 | 80,307 | |||
| NET MOVEIIIIENT IN FUNDS | 58,343 | (5,284) | 53,059 | 121,145 | |
| RECONCILIATION OF FUNDS |
|||||
| Fund balances brought forward | |||||
| at 1 April 2022 | 2,296,275 | 454,090 | 2,750,365 | 2,629,220 | |
| Fund balances carried forward | |||||
| at 31March 2023 | E2,354,618 | 5448,806 | 62,803,424 | 62,750,365 |
| 2023 E |
2022f | |||||
|---|---|---|---|---|---|---|
| Governance | costs comprise: | |||||
| Independent Administration |
Examiners fee and accountancy |
878 1,680 |
827 1,614 |
|||
| Honorarium | and donations | 300 | 500 | |||
| Subscripttons | 229 | 224 | ||||
| Professional | Fees (managing | surveyor) | 1,820 | 500 | ||
| Other | 655 | 469 | ||||
| Investment | Porffolio Management | Fees | 6,832 | 7,509 | ||
| Property valuation fees |
900 | |||||
| 613,294 | 511,643 |
| 3. (L |
OSS)/GAIN ON SALE OF INVEST |
MENTS | ||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| Funds | Funds | Total | ||
| 2023 | 2023 | 2022 | ||
| 8 | 6 | |||
| Proceeds | ofsale | 55,858 | 70,000 | 14,779 |
| 31 March | 2022 market value | (59,129) | (70,527) | (13,251) |
| (Loss)/gain | on sale of investments | 8(3,271) | F(527) | 61,528 |
| 47 Linskill | 63 Percy | |||
|---|---|---|---|---|
| Terrace | Park Road | Total | ||
| E | 8 | 5 | ||
| COSTNALUATION | ||||
| At 1 April 2022 Refurbishments at cost |
490,000 82,338 |
790,000 92,355 |
1,280,000 174,693 |
|
| Revaluation | surplus | 22,662 | 57,645 | 80,307 |
| At 31 March | 2023 | 595,000 | 940,000 | 1,535,000 |
| NET BOOK | VALUE | |||
| At 31 March | 2023 | 5595,000 | 5940,000 | F1,535,000 |
| At 31 March | 2022 | 6490,000 | f790,000 | 51,280,000 |
| value | off714,738(202 | 2 - F775 | ,650). | The split is as foll | ows: | |||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| E | 5 | |||||||
| UK Fixed Interest | 90,454 | 76,659 | ||||||
| UK Equities Overseas Equities Alternative Investments |
147,645 353,104 96,001 |
182,979 378,789 121,146 |
||||||
| Cash | 27,534 | 16,077 | ||||||
| f714,738 | 5775,650 | |||||||
| 8. | SINKING FUNDS | |||||||
| The sinking fund is represented |
by: | |||||||
| Original | Original | Market | Market | |||||
| Nominal | cost | cost | value | value | ||||
| valuef | 2023 5 |
2022 5 |
2023 | 2022 6 |
||||
| Charity | Commissioners | |||||||
| (a) | F1 Accumulative shares (47 Linskill Terrace) |
432.21 | 590 | 590 | 99,050 | 99,940 | ||
| (b) | f1 Accumulative (63 Percy Park |
shares Road) |
1,874.36 | 260,657 | 303,073 | 429,549 | 503,936 | |
| (c) | 51 Income units | 11.00 | 206 | 214 | ||||
| f261,247 | F303,663 | 5528,805 | F604,090 |
| Schedule ofInvestments for th 31 March 2023 |
e year ended | |||||
|---|---|---|---|---|---|---|
| Original | Original | |||||
| cost or | Market | coal oi' | Market | |||
| Nominal | valuation | value | valuation | value | ||
| value | 31.03.22 | 31.03.22 | 31.03.23 | ~132 | ||
| UK BONDS | ||||||
| Bond Funds | ||||||
| UK Govt Treasury Bond 5%2025 |
8395.91 | 8,759.87 | 8,619.06 | |||
| GCP Infrastructure 1p ord |
12,000 | 14,829.DO | 13,248.00 | 14,829.00 | 10,224.00 | |
| Twenty Four AM Corp Bond El | 250 | 25,261.00 | 23,973.00 | 25,261.00 | 20,487.50 | |
| Vanguard Inv Ser UK Gvt Bond Index Inst Pls Inc |
100 | 11,346.00 | 11,18000 | 11,346.00 | 8,924.39 | |
| IShares Ig pic market 130XXCorp |
190 | 19,637.00 | 23,072.00 | 19,637.00 | 19,747.65 | |
| A2D Funding pic4.75%Bond |
5,000 | 5,020.00 | 5,186.00 | |||
| TOTAL FOR UK BONDS | 76,093.00 | 76,659.00 | 79,832.87 | 68,002.80 | ||
| OVERSEAS BONDS | ||||||
| Henderson Inv Fixed Int Monthly |
Income Janus | 35,000 | 21,13100 | 19,464.00 | 21,131 DO | 16,513.00 |
| Robeco Lux SA Global Credits I | BH | 65 | 7,258.00 | 6,547.00 | 7,258.00 | 5,93840 |
| 28,389.00 | 26,011.00 | 28,389.00 | 22,451.40 | |||
| UK EQUITIES | ||||||
| Royal Dutch Shell '8' Ord Eur 0.07 | 700 | 10,118.00 | 14,760.00 | 10,118.00 | 16,159.50 | |
| Croda International ord shares |
170 | 7,867.00 | 13,396.00 | 7,867.00 | 11,046.60 | |
| Rio Tinto ord Icp | 200 | 7,393.00 | 12,162.00 | 7,393.00 | 10,958.00 | |
| Experian ord US$0.10 | 320 | 7,937.00 | 9,443.00 | 7,937.00 | 8,512.00 | |
| Disgeo 28p ord | 26D | 4,239.00 | 10,045.00 | 4,239.00 | 9,396.40 | |
| Taylor Vyimpey Ip ord |
2,000 | 3,070.00 | 2,614.00 | 3,070.00 | 2,379.00 | |
| Unilever pic 3.1111pord | 300 | 8,053.00 | 10,365.00 | B,D53 00 | 12,57000 | |
| Smith & Nephew ord US$0.20 |
430 | 6,812.0D | 5,246.00 | |||
| Haleon Pic ord E001 | 700 | 477.00 | 2,25400 | |||
| Glaxo Smith Kline 25p ord | 560 | 2,512.00 | 11,530.00 | 2,035.00 | 8,002.40 | |
| Relx pic60.1444 | 380 | 7,221.00 | 9,055.00 | 7,221.00 | 9,948.40 | |
| Compass Group 11.05p ord | 542 | 4,98800 | 8,943.00 | 4,988 00 | 11,018.86 | |
| Intercontinental Hotels ord 20.852p |
170 | 4,82300 | 8,823.00 | |||
| National Grid ord 12.431289p |
550 | 2,784.00 | 6,448 00 | 2,784.00 | 6,03075 | |
| Legal and General ord 2 5p | 3,000 | 6,746.00 | 8,180.00 | 6,746.00 | 7,167.00 | |
| Prudential Bp ord |
810 | 8,621.00 | 9,185.00 | 8,621.00 | 8,926.2D | |
| Schroders VTG Shs E1 5for I reorg | 1,176 | 3,204.00 | 6,462.00 | 3,204.00 | 5,409.60 | |
| Jupiter Fund Mngrs (Menan) UK |
Mid Cap | 12,000 | 8,883.00 | 17,258.00 | ||
| ESRiver &Mercantile UK Equity |
Inc | 3,003 | 6,850.00 | 8,207 00 | 6,650.00 | 7,843 10 |
| Mercantile Inv Trust pic 25p ord |
5,000 | 8,585.00 | 10,875.00 | 8,585.00 | 10,025.00 | |
| TOTAL FOR UK EQUITIES | 118,506.00 | 182,977.00 | 100,188.00 | 147,644 81 |
| Original | Original | ||||
|---|---|---|---|---|---|
| cost Or | Msfliet | cost oi' | Market | ||
| Nominal | valuation | value | valuation | value | |
| value | 31.03.22 | 31.03.22 | 31.03.23 | 3103.23 | |
| NORTH AMERICAN EQUIIIES | |||||
| Stryker Corp Com Stock $010 | 33 | 7,187 85 | 7,61998 | ||
| Artemis Fd Mgrs Vs Select Instit |
17,0DO | 39,371.00 | 53,46800 | 35,227.00 | 42,054 60 |
| JP Morgan Funds Ltd US Equity Inc |
43,403 | 25,410.00 | 88,884.00 | 25,410.00 | 63,97608 |
| I Shares S&P500 | 1,700 | 31,203 00 | 56,273.00 | 31,203.00 | 53,129.25 |
| Booking Holdings Inc Com $0008 |
4 | 8,176.00 | 8,581.84 | ||
| Vanguard Funds ptc S&P50D UCll S |
850 | 41,876 DO | 59,130.00 | 41,87800 | 55,828.00 |
| TOTAL FOR NORTH AMERICAN EQUITIES | 137,860.00 | 235,755.00 | 149,079.85 | 231,189.75 | |
| EUROPEAN EQUITIES | |||||
| Blackrock FM Ltd Euro Dynamic FD Inc |
7,000 | 8,140.00 | 18,168.00 | 5,814.00 | 13,219.14 |
| Blackrock FM Ltd Conti Euro Inc Fund | 16,000 | 23,439.00 | 28,814.DO | 23,439.00 | 29,147.07 |
| TOTAL FOR EUROPEAN EQUITIES | 31,579.00 | 46,98200 | 29,253.00 | 42,36621 | |
| JAPANESE EQUITIES | |||||
| Bsillie Gifford Japanese 8 Nav Inc | 1,250 | 22,158.00 | 24,930.00 | 18,465.00 | 19,362.50 |
| TOTAL FOR JAPANESE EQUITIES | 22,158.00 | 24,930.00 | 18,46500 | 19,362.50 | |
| ASIA PACIFIC EQUIIIES | |||||
| First Sentier/Stewan Invrs Asia |
5,500 | 2D,731.DO | 24,453.00 | 14,252 57 | 16,45985 |
| Bny Mellon Newton Asia Inc | 28,0DO | 27,399.00 | 33,869.00 | 27,39900 | 31,78000 |
| TOTAL FOR ASIA PACIFIC EQUITIES | 48,13000 | 58,322.00 | 41,651.57 | 48,239.85 | |
| EMERGING MARKET EQUIIIES | |||||
| JP Morgan Asset Man Emg Mkts | 18,000 | 11,448.00 | 12,800.00 | 11,448.00 | 11,944.80 |
| TOTAL FOR EMERGING MARKET EQUIIIES | 11,448.00 | 12,800 DO | 11,448.00 | 11,944.80 | |
| GLOBAL INVESTMENTS | |||||
| Franklin Tmpltn Clarbfidge Gbl Infa Inc |
10,00D | 10,020.00 | 14,44000 | 10,02D.OO | 13,23000 |
| Scotbsh Mortgage Inv Trust 5p ord |
1,000 | 2,679.00 | 10,260.00 | 2,679.00 | 6,786.00 |
| TOTAL FOR GLOBAL INVESTMENTS | 12,699.00 | 24,700.0D | 12,699.00 | 20,D16.00 |
| Original | Original | ||||
|---|---|---|---|---|---|
| cost or | Market | costof | Market | ||
| Nominal | valuation | value | valuation | value | |
| value | ~31 3.22 | 31.03.22 | 31.03.23 | 31.03.23 | |
| ABSOLUTE RETURN INVESTMENTS | |||||
| BNY Mellon Fnc Mangr Gl Dynamic | 15,000 | 14,536.00 | 13,875.00 | 14,536.00 | 13060.30 |
| Muzinich funds Ghl Tactical Hgd S Inc |
96.61 | 9,689.00 | 9,611.00 | 9,889.00 | 9,032.26 |
| Personal Assets Trust picf0.125 | 5,00D.OO | 21,981.00 | 25,200.00 | 21,981.00 | 23,875.00 |
| TOTAL ABSOLUTE RETURN INVESTMENTS | 46,206.00 | 48,686.00 | 46,208.00 | 45,967.56 | |
| PROPERTY | |||||
| Blsckrcck FM Ltd Ishares Prop Secs |
10,500 | 19,302 | 21,750 | 19,302 | 17,153 |
| TOTAL FOR PROPERTY | 19,302 | 21,750 | 19,302 | 17,153 | |
| OTHER INVESTMENTS | |||||
| HICL Infrastructure pic ord 20.0001 |
8,300 | 14,720.43 | 12,86500 | ||
| TOTAL FOR PROPERTY | 0.00 | 0.00 | 14,720.43 | 12,865.00 | |
| CASH | |||||
| Cash deposit and dealing account | 15,606.00 | 15,60600 | 25,678.09 | 25,678.09 | |
| Income account | 471.00 | 471.00 | 1,856.37 | 1,85637 | |
| TOTAL CASH | 16,077.00 | 16,077.DO | 27,534.46 | 27,534.46 | |
| TOTAL FOR ALL INVESTMENTS | 568,447.00 | 775,649.00 | 578,769.18 | 714,737.81 |
| DATE | NAME AND SHARE | NAME AND SHARE | NO. | COST |
|---|---|---|---|---|
| 06/06/2022 | HICL Infrastructure | pic Ord 60.0001 | 8,300 | 14,720.43 |
| 26/10/2022 | UK Govt. Treasury | Bond 5N 2025 | 8,395.91 | 8,759.87 |
| 24/02/2023 | Stryker Corp Com | Stk $0.10 | 33 | 7,187.85 |
| 24/02/2023 | Booking Holidays | Inc Com 50.008 | 4 | 8,175.86 |
| esl e tsales |
f0 these | f0 these | f0 these | f0 these | e ded | e ded | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31M r h 2023 | |||||||||||||||||||
| 5 | I sProreeds | P oft/(losel | ProBt/(I ) |
||||||||||||||||
| N tof | Orlgi al |
32/03/2023 | on | 0 | |||||||||||||||
| Date | Nomen | dsh e |
No | comm)mien | cost | Ma kmvalm | cost | Ma ketval e |
|||||||||||
| 29/04/2022 29/04/2022 |
Bs off do Bl k«kFDMS |
aDthF 5 p Dy |
d(IP FdD |
) | 250 2,000 |
3,S57 50 4,672 24 |
3,69300 Z325 71 |
4,15500 5,19085 |
16450 2.34653 |
(29750) (Sls6!) |
|||||||||
| 01/05/2022 | An | I | Fd | ICVCUSS l*NFd | 2,000 | 5,284.60 | 4,14431 | 5,628 21 | 1,140.29 | (34361) | |||||||||
| 04/05/2022 | 2,500 | 7,443 75 | 6,478 43 | 7,641 56 | 96532 | (19781) | |||||||||||||
| 08/05/2022 | I pt | F | dMg | IM | I UK | Md C | 0 | 12,000 | 14,995M | 6,S8300 | 17,25S00 | 8,11260 | I2.26240) | ||||||
| 04/Dl/2023 | 5 | th8 | N | phe | Od5020 | 430 | 4,82180 | 6,81200 | 5,24600 | (1,990 20) | (424.20) | ||||||||
| 08/02/2023 | I I | 0 | \I | |IN I | I 0420.8520 | 170 | 9,73800 | 4,623 00 | 8,823 00 | 5,11500 | 91500 | ||||||||
| 09/10/2022 27/09/2022 |
A"DF d *h d |
gpl pl |
475%8 MRp d20p hf* |
d ttl |
t | 5,000 | 5,042 10 1.95 |
5,020 00 | 5,186M | 22 10 I 95 |
(14390) I 95 |