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|Page|1|Legal and Administrative
Information|Legal and Administrative
Information|
|---|---|---|---|
||2 —5|Report ofthe Trustees||
|||Report ofthe Accountants||
|||Statement ofFinancial Activities||
|||Balance Sheet||
||9 —13|Notes to the Financial
Statements||
||14|Detailed Income and Expenditure|Account|
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||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||Funds||
||||||2021|2020|
|||||Notes|||
|Income and|Endowments||||||
|Other trading|activities||||12,405|13,784|
|Donations
and||Legacies|||14,908|661|
|Income from|Investments||||19,203|10,293|
|Total incoming||and endowments|||46,516|24,738|
|Expenditure|on|raising funds|||||
|Expenditure|on charitable||activities||(130,664)|(147,856)|
|Other expenditure|||||||
|Net gains(loss)||on investments|||158,204|181,466|
|Net Income/(expenditure)|||||74,056|58,348|
|Net Movement||in Funds|||74,056|58,348|
|Total funds|at|1December|2020||1,596,905|1,538,557|
|Total funds|at|31December|2021||1,670,961|1,596,905|
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|||NOTES|2021|2020|
|---|---|---|---|---|
|FIXEDASSETS|||||
|Investments|||1,477,507|1,465,543|
|CURRENT ASSETS|||||
|Debtors||10|1,915|1,695|
|Cash at Bank and in Hand||11|193,099|136,311|
||||195,014|138,006|
|Creditors:
amounts|falling due within one year|12|(1,560)|(6,644)|
|NET CUIMENT ASSETS|||193,454|131,362|
|TOTAL ASSETSLESSCURRENT LIABILITIES|||1,670,961|1,596,905|
|Creditors:
amounts|falling due after more than one year||||
||||1,670,961|1,596,905|
|Unrestricted
funds|||||
|General|||1,670,961|1,596,905|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|Income from investments
listed||on arecognised stock|||exchange or|||
|held
in
Common|investment|funds,|open|ended|investment|||
|companies,
Unit trusts or other||collective investment|||schemes|19,186|9,980|
|Interest on cash held as part ofthe investment||||portfolio||17|313|
|Other interest||||||||
|||||||19,203|10,293|
|XPENDITURE ON CHARITABLE ACTIVITIES||||||||
|||||||2021|2020|
|Salaries and associated Pension Contributions||||||35,435|39,986|
|Research Fellowships||||||34,913|54,698|
|Trustees expenses|||||||732|
|Ruffer Investment|Management|Fees||||15,425|13,535|
|Accountancy
Fees||||||1,416|1,400|
|Office expenses||||||5,958|6,427|
|Office Rental||||||1,950||
|Publishing||||||9,317|7,078|
|Grants payable||||||26,250|24,000|
|||||||130,664|147,856|
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|6.2
Accountancy|fees||||||||
|---|---|---|---|---|---|---|---|---|
|Fees for examination|ofthe accounts||were|as|follows:||||
||||||||2021|2020|
|||||||||f.|
|Independent
examiner*s fees for reporting||||on|the|accounts|1,416|1,400|
|Other fees (for example: advice,||consultancy,|||accountancy||||
|services) paid to the|independent|examiner||or|auditor||None|None|
|PAID EMPLOYEES|||||||||
|7.1
Staff Costs|||||||||
||||||||2021|2020|
|Gross wages, salaries|and benefits in||kind||||33,829|38,195|
|Employer's
National|Insurance|costs|||||||
|Pension costs|||||||1,606|1,791|
||||||||35,435|39,986|
|7.2
Average number offull-time|||equivalent|||employees|||
||||||||2021|2020|
|Full-time
equivalent|number of|employees|||||1.0|1.0|
|Working in:|||||||||
|~
Charitable
activities|||||||0.8|0.8|
|~
Governance|||||||0.2|0.2|
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||2021|2020|
|---|---|---|
|Market value at 1 December 2020|1,306,569|1,324,098|
|Acquisitions
at cost|564,276|459,658|
|Disposal proceeds|(557,095)|(658,653)|
|Net gain/(loss)
on revaluation|158,204|181,466|
|Market Value at 31December 2021|1,471,954|1,306,569|
|Cash awaiting
investment|5,553|158,974|
|Total value at 31December 2021|1,477,507|1,465,543|
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||||2021|2020|
|---|---|---|---|---|
||UK Investments
—Fixed Interest||||
||—Equities etc||257,949|227,923|
||-Index linked||291,462|113,755|
||- Credit &Illiquid
Strategies Funds||99,136|144,886|
||Overseas Investments
—Fixed Interest||||
||-Index linked||236,332|282,919|
||—Equities etc||587,075|537,086|
||- Credit &Illiquid Strategies Funds||||
||||1,471,954|1,306,569|
||(Note: Overseas Equities includes Global Funds )||||
||Investments
at 31December 2021 which are over 5%ofportfolio by value are:||||
||British Government
1.25%Treasury Index-Linked|(22/03/2068)|129,562|103,678|
||Ruffer SICAV Fixed Income Z GBP Cap||236,332|282,919|
||Ruffer Multi Strategies Fund Limited|||94,481|
||LFRuffer Gold CAcc||77,556|70,533|
|10|DEBTORS||||
||||2021|2020|
||Other debtors||1,315|1,695|
||Prepayments
and accrued income||600||
||||1,915|1,695|
|11|CASH AT BANK AND IN HAND||||
||||2021|2020|
||Short term deposits||184,865|94,848|
||Cash at bank and on hand||8,234|41,463|
||||193,099|136,311|
|12|CREDITORS: amounts
falling due within one year||||
||||2021|2020|
||Trade creditors||||
||Other creditors and accruals||1,560|6,644|
||||1,560|6,644|
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|2020|||||2021||
|---|---|---|---|---|---|---|
|||INCOME|||||
||517|Donations
and legacies|||14,752||
||144|Gift Aided donations|||156||
|661||Tax Recovered on Gift Aid||||14,908|
|||OTHER INCOME|||||
||313|Deposit Account Interest|||17||
||9,980|Ruffer Investment
Income|||19,186||
|24,077|13,784|Sales ofPublications|etc||12,405|31,608|
|24,738||||||46,516|
|||ADMINISTRATIVE|COSTS||||
||39,986|Salaries|||35,435||
||24,000|Grants|||26,250||
||54,698|Research Fellowships|||34,913||
||732|Trustees Expenses|||||
||13,535|Ruffer Investment
Management||Fees|15,425||
||7,078|Printing,
Publications|and Books etc||9,317||
||1,400|Accountancy
Fees|||1,416||
|||Office Rent|||1,950||
|147,856|6,427|Administrative
Expenses|||5,958|130,664|
|(123,118)||OPERATING (DEFICIT)||||(84,148)|