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2021-12-31-accounts

Charity registration number 1077501

THE DISCHMA CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE DISCHMA CHARITABLE TRUST

CONTENTS

Page
Legal and administrative information 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the accounts 10 - 16
Investment schedule 17 - 18

THE DISCHMA CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms Selina Robertson (Chair) Ms Alana Robertson Mr Edward Robertson Mrs Lorna Robertson Timmis J.P. Sir Simon Robertson Lady Virginia Robertson Secretary Rathbone Trust Company Limited Charity number 1077501 Registered office 8 Finsbury Circus London EC2M 7AZ Independent examiner Mr David Matkins FCA Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

THE DISCHMA CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report and financial statements for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the Charities Act 2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)'. The Financial Statements also comply with the Charity's governing document.

Objectives and activities

The Dischma Charitable Trust was created by Deed dated 9th April 1999. The Trustees shall hold the capital and the income of the Trust Fund upon trust to apply income and, as far as may be necessary, the capital for or towards such charitable purposes and to make donations to such charitable bodies or institutions at such times and in such manner as the Trustees may, in their absolute discretion, think fit.

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission.

Main activities

The Charity was created by the Settlement Deed to make donations to such charitable body or institution that the Trustees deemed fitting. During the year under review the Trustees have made donation payments to 50 charitable organisations that cover a wide spectrum of such bodies. The differing types of charitable organisations that have benefited during the year have been broadly broken down under a number of categories as detailed in note 6 of the accounts.

Grant making policies

The Trustees meet half yearly to review applications for funding. Only successful applicants are notified of the Trustees' decision.

It is the Trustees’ aim to grow the fund in real terms over time but also to distribute or pledge up to 3% of the market value of the investment portfolio, less administrative costs, on an annual basis to worthy causes. The annual income arising is used first, with any balance required to make up the 3% taken from capital funds. As a result of this policy, it is likely that the amount available to the Trustees for distribution each year may fluctuate depending on the annual performance of the investment portfolio.

The Trustees have elected to concentrate (although not exclusively) their current donations policy on charities concerned with Education, Arts and Culture, Conservation and Human and Animal Welfare.

The Trustees, when considering donations to UK based charities tend to favour those charities which mainly operate in London and Hampshire.

The Trustees do not normally support charities which carry out medical research.

During the year under review, the Trustees made a total of 50 donations, as detailed in note 16 of these accounts. The analysis of the donations showing the various types of charities supported are also shown in note 6 of these accounts.

Achievements and performance

The Trustees have made grant payments to charities during the year that have totalled £107,000. This showed an increase of £91,100 as compared with the previous year when they made donations totalling £15,900. The COVID-19 lockdowns impacted on the level of giving in 2020 as the Trustees were unable to convene their normal meetings. In 2021 the trustees ensured even when it was not possible to physically meet that the Charity's level of giving returned to that of previous years, before the pandemic.

THE DISCHMA CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

Total incoming resources were £25,965 (£13,600 in 2020), with £123,308 (£31,956 in 2020) being committed to charitable activities of which £1,027 (£537 in 2020) related to costs of raising funds and £16,308 (£16,056 in 2020) governance costs, resulting in net incoming resources of £835,037 (incoming £487,949 in 2020).

The total movement of resources in the year also include the realised gain in the year £301,363 (gain £6,892 in 2020) and an unrealised gain based upon the market value of the investments at the year end of £631,084 (gain £499,766 in 2020), and currency gain of £960 (gain £184 in 2020).

Reserves

As mentioned above, it is the Trustees’ aim to distribute or pledge up to 3% of the market value of the portfolio, less administration costs, on an annual basis to worthy causes. The annual income arising from investments will be used first, with any balance required to make up the 3% taken from capital funds. The remaining capital of the Charity will be held to generate future income and to be available to fund individual donations in accordance with the Trustees’ grant making policies.

Plans for the future

The Trustees do not envisage any further significant changes to their aims and objectives, they intend to continue supporting a fewer number of charities at an increased level.

Investment policy

The Dischma Charitable Trust’s investments are predominantly invested on a discretionary basis by James Hambro and Partners through the Sardasca Fund. There are then a range of illiquid assets selected by the previous investment manager, Stonehage Fleming, which are being reduced over time as well as a holding in the Whale Rock Flagship Fund gifted by Sir Simon Robertson to the Dischma Charitable Trust in 2019.

Investment performance Capital

After a reasonable 2020, the Sardasca Fund performed strongly in 2021 as the market rotated back into quality and growth companies. These companies usually form the core of the Sardasca Fund’s investments given that they tend to deliver higher and more consistent returns. During the period individual holdings such as Alphabet, Intuit, Microsoft and Thermo Fisher contributed particularly strongly.

The proportion of the Fund invested directly in company shares, as opposed to invested through third-party equity investment funds, was increased over the year from 57% of the Fund to 62% of the Fund. In consultation with the Trustees, James Hambro and Partners believe that investing in these companies is the best way to protect and grow the value of assets after the effects of inflation for the long term.

However, companies, and markets generally, inevitably have setbacks. To provide some protection, the exposure to equities has been balanced with investment in other assets such as bonds, alternatives and cash. The Fund finished the period with 72% in equities and a combination of more defensive holdings in the form of US government-issued, inflation-protected bonds, gold, absolute return funds and a higher cash balance.

Income

Over the period under review, the Trust received less in investment income than was distributed in grants. However, bearing in mind that the Trustees measure investment performance on a total return basis and gauge their distributions accordingly, the Trustees are satisfied that the level of investment income should not impact their grant giving capabilities.

THE DISCHMA CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Risks

Risk management is considered regularly at the Trustees’ meetings. The Trustees are satisfied that the right processes are in place to identify the major risks to which the Charity is exposed and that systems are in place to manage them in so far as is possible.

The main risk identified is investment market risk. The Trustees consider this risk appropriate given the intention is to grow the value of the Trust’s assets after the effects of inflation over the long term to support future grant giving. This risk is mitigated by the long investment time horizon of the Trust, the level of grant giving relative to the size of the Trust’s assets and the flexibility on making grants in any individual period, and the choice of investment manager and their investment approach.

The other key risk identified relates to the counter-party risk related to the Charity’s holding of cash and investments. This risk has been mitigated by the selection of an investment manager to manage the Charity’s investments and cash, who in turn has selected a strong and stable custodian for holding these assets.

Structure, governance and management

The Trustees who served during the year were:

Ms Selina Robertson (Chair) Ms Alana Robertson Mr Edward Robertson Mrs Lorna Robertson Timmis J.P. Sir Simon Robertson Lady Virginia Robertson

The power of appointing new Trustees of the Charity is vested in the Settlor of the Charity, Sir Simon Robertson, and after the death of the Settlor in such person as the Settlor shall by Deed or Will appoint.

The Charity's other advisors are noted on page 1.

Decision making

In a normal year with no lockdown restrictions, the Trustees meet half yearly to review applications for funding, investment performance, income levels and the financial statements. In between Trustees’ meetings, urgent appeals may be considered and subsequently ratified at the following half yearly meeting. As it was not possible for the Trustees to meet in person during 2021, the donations made were agreed by email and ratified by the Trustees’ unanimous approval of these financial statements.

Trustee training

Despite lockdown restrictions, the Trustees have continued to correspond with their professional advisors regularly by telephone and email and the advisors are specifically instructed to appraise the Trustees of relevant technical and practice issues as they arise.

THE DISCHMA CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees' report was approved by the Board of Trustees.

...............................................................

Dated: 29 March 2023

Ms Selina Robertson (Chair) For and on behalf of all Trustees

THE DISCHMA CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE DISCHMA CHARITABLE TRUST

I report to the Trustees on my examination of the financial statements of The Dischma Charitable Trust (‘the Charity’) for the year ended year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and related notes.

This report is made solely to the Charity’s Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the Charity’s Trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

.................................................. David Matkins FCA

Dated: 29 March 2023

Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

THE DISCHMA CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Income
Investment income
3
Total income
Expenditure
Raising funds
4
Charitable activities
5
Total resources expended
Net outgoing before investment gains
Net gains on investments
10
Net movement in funds
Fund balances at 1 January 2021
Fund balances at 31 December 2021		 2021
£
25,965
25,965
1,027
123,308
124,335
(98,370)
933,407
835,037
7,189,832
8,024,869		 2020
£
13,600
13,600
537
31,956
32,493
(18,893)
506,842
487,949
6,701,883
7,189,832

THE DISCHMA CHARITABLE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds - general		 2021
£
£
8,005,850
-
35,111
35,111
(16,092)
19,019
8,024,869
8,024,869
8,024,869		 2020
£
£
7,087,070
121
118,541
118,662
(15,900)
102,762
7,189,832
7,189,832
7,189,832		 2020
£
£
7,087,070
121
118,541
118,662
(15,900)
102,762
7,189,832
7,189,832
7,189,832
7,189,832
7,189,832
7,189,832

The financial statements were approved by the board of Trustees and authorised for issue on 29 March 2023 and are signed on its behalf by:

...........................................................

Ms Selina Robertson (Chair) For and on behalf of all Trustees

Dated: 29 March 2023

THE DISCHMA CHARITABLE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

2021
2020
Notes
£
£
£
Cash flows from operating activities
Cash absorbed by operations
14
(123,062)
Investing activities
Purchase of investments
(175,007)
(206,693)
Proceeds on disposal of investments
482,262
208,179
Dividends and interest received from investments
25,965
14,547
Net cash generated from investing
activities
333,220
Net increase/(decrease) in cash and cash
equivalents
210,158
Cash and cash equivalents at beginning of year
166,649
Cash and cash equivalents at end of year
15
376,807		 £
(38,444)
16,033
(22,411)
189,060
166,649

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition)’ and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition)’rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

1.2 Going concern

The Trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern . The review of the financial position, reserves levels and future plans gives Trustees confidence the Charity remains a going concern for the foreseeable future.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for a specific purpose.

1.4 Incoming resources

Donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Donations made in a form other than cash are initially recognised at the market value at the date of the gift.

Investment income is accounted for on an accruals basis in the period to which it relates.

1.5 Expenditure

Grants are included in the financial statements when approved by the Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued. Grants offered that are subject to conditions that have not been met at the year end are noted as a commitment but not accrued as expenditure.

Management and administration costs comprise those costs incurred in running the Charity. They have been apportioned on the basis of time spent between charitable activities, cost of raising funds and governance costs.

Governance costs consist of those costs associated with the overall running of the Charity and meeting statutory and regulatory requirements.

1.6 Investments

Fixed assets investments represent listed investments which are stated at market valuation, where market value represents the mid market value on the last trading day before the year end. Any unrealised or realised gains arising from investments are accounted for in the Statement of Financial Activities.

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.7 Financial instruments

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

The Trust does not acquire put options, derivatives or other complex financial instruments.

1.8 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

1.9 Debtors

Debtors are recorded at their expected settlement amount.

1.10 Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Investment income

Income from listed investments
Fixed interest
Accrued interest
4
Raising funds
Investment management
5
Charitable activities
Grant funding of activites (see note 16)
Share of governance costs (see note 7)
6
Grants payable
Wildlife & Conservation
General Medical, Mental Health and Disabled
Children and Youth Welfare
General
Education
Elderly Welfare
The Relief of Poverty
The Arts, Theatres & Museums etc
Animal Welfare
Homelessness		 2021
£
25,208
-
757
25,965
2021
£
1,027
1,027
2021
£
107,000
16,308
123,308
2021
£
13,500
31,250
11,350
23,400
2,500
5,500
-
4,500
2,000
13,000
107,000		 2020
£
11,249
2,351
-
13,600
2020
£
537
537
2020
£
15,900
16,056
31,956
2020
£
2,000
2,900
-
5,000
5,000
-
1,000
-
-
-
15,900

All of the above grants were payable to institutions.

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Support costs

Management and administration fees
Independent examiner's fee
LEI fees		 Support
costs
Governance
costs
£
£
-
14,400
-
1,830
-
78
-
16,308		 2021
£
14,400
1,830
78
16,308		 2020 Basis of
allocation
£
14,400 Governance
1,500 Governance
156 Governance
16,056

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, benefits or reimbursed expenses from the Charity during the year or the previous year.

9 Employees

There were no employees during the year or the previous year.

10 Net gains on investments

Unrealised gains on investments
Gain on sale of investments
Gain on foreign currency exchange
Fixed asset investments
Investments
£
Valuation
At 31 December 2020
7,038,962
Additions
175,007
Unrealised loss
631,084
Realised gain
301,363
Cash available to invest
-
Disposals
(482,262)
At 31 December 2021
7,664,154		 2021
£
631,084
301,363
960
933,407
Cash in
portfolio
£
48,108
-
-
-
293,588
-
341,696		 2020
£
499,766
6,892
184
506,842
Total
£
7,087,070
175,007
631,084
301,363
293,588
(482,262)
8,005,850

11 Fixed asset investments

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

11 Fixed asset investments

(Continued)

Investments representing more than 5% of the portfolios total market value (excluding cash):

Investment Units Market Value % of Total Market
£ Value
S&W The Sardasca Fund £ Inc 2,986,042 6,127,358 79.95%
Whale Rock Flagship Fund Ltd 331.1561 1,428,072
18.03%
2021 2020
£ £
Listed investments 7,664,154 7,038,962
Cash in investment portfolio 341,696 48,108
8,005,850 7,087,070
Historic cost of investments 6,322,878 6,535,313
12 Debtor: amounts falling due within one year
2021 2020
£ £
Accrued interest - 121
13 Creditors: amounts falling due within one year
2021 2020
£ £
Management and administration fee 14,400 14,400
Independent examiner's fee 1,692 1,500
16,092 15,900

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 Cash generated from operations
2021 2020
£ £
Surplus for the year 835,037 487,949
Adjustments for:
Investment income recognised in profit or loss (25,965) (13,600)
Gain on disposal of investments (301,363) (6,892)
Unrealised gains (631,084) (499,766)
Movements in working capital:
Decrease in debtors 121 -
Increase/(decrease) in creditors 192 (6,135)
Cash absorbed by operations (123,062) (38,444)
15 Cash and cash equivalents
2021 2020
£ £
Cash at bank and in hand 35,111 118,541
Cash available to invest 341,696 48,108
376,807 166,649
16 Donations made during the year
2021
£
Abortion Support Network 2,000
Acid Survivors Trust International 2,000
Age UK 2,000
Albert Kennedy Trust 2,000
Alton Community Centre 1,000
Amref Health Africa 2,000
Arts Emergency 2,500
Breast Cancer Haven 2,000
Brooke Hospital for Animals 2,000
Cardiac Risk in the Young 1,000
Cardinal Hume Centre 1,000
Care for Children 400
Carers Trust 2,000
Children's Heart Foundation 750
Clowns in the Sky 750
Compassion in World Farming 5,000
Disabled Sailors Trust 1,500
Carried forward 29,900

THE DISCHMA CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

16 Donations made during the year (Continued)
2021
£
Brought forward 29,900
Dorset & Somerst Ambulance 1,000
Ella's Home 1,000
Film & TV Charity 2,000
Fine Cell Work 5,000
Gantry Youth Theatre 1,000
Get Set Girls 400
Girl's Network 2,000
Glass Door 10,000
Hackney Migrant Centre 5,000
HART Wildlife Rescue 2,000
Hourglass 2,000
Just for Kids Law 400
Listening Books 1,500
Microloan Foundation 2,500
Play Cabin, Woodgreen 500
Praxis Community Projects 400
Re-Cycle 1,500
Royal Trinity Hospice 10,000
Sarcoma UK 2,000
School Connect 500
Siblings Together 400
Sistah Space 2,500
Solace Women's Aid 3,000
SPANA 1,500
Stable Family Home Trust 2,000
Surfers Against Sewage 1,500
TalentEd 500
The Lullaby Trust 500
The Ralph Bates Pancreatic 4,000
Wanstead Youth Club 500
Water Harvest 1,000
Womankind 5,000
World Animal Protection 4,000
107,000

THE DISCHMA CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 DECEMBER 2021

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Gross Income
1 January 2021 1 January 2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 December 31 December
2021 2021
£ £ £ £ £ £ £ £
Blackrock Asset Mgmt Ireland Ltd
Bgi Sterling Liquidity 1st Fd I (Instl)
310,000 310,000 40,000 40,000 270,000 270,000 619
Duet Real Estate Finance Ltd
Ordinary No Par Value
86,746 86,746
FF&P Enhanced Opportunities
Commodities Cell B
2,559 6,501 2,559 6,501
FF&P Venture Funds PCC
Cell V Class B
13,048 3,653 9,933 2,785 4 3,115 872
GHP Russia Real Estate Develop Ltd
Ordinary shares US$0.001
6,263 57,618 959 7,245 (1,578)
161 1,337 (148)
2,646 12,536 (11,803) (22,971) 2,497
Sardasca Fund
Third Party Funds Global Equities
2,986,042 6,127,358 4,718
10,272
11,646
(641,999) 2,986,042 5,485,359 11,317

THE DISCHMA CHARITABLE TRUST

INVESTMENT SCHEDULE

FOR THE YEAR ENDED 31 DECEMBER 2021

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Market Value Gross Income
1 January 2021 1 January 2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 31 December 31 December
2021 2021
£ £ £ £ £ £ £ £
Stonehage Fleming
Heritage Fund B
33,279 38,084 2,089 2,407 17
1,997 2,210 (75)
3,006 2,620 (821) (9,722) 26,187 20,246
Stonehage Fleming Global Property PCC
Y Series Growth
40,981 2,869 40,981 2,869
Whale Rock Flagship Fund Ltd
Class A3 Series
331 1,428,072 (559,647) 331 868,425
TOTAL: 7,664,155 310,000 71,140 (14,404) (1,234,339) 6,654,272 38,572