##
|**Founder:**|Pamela Holmwood Barlow|
|---|---|
|**Date of Death of Founder:**|24 June 2002|
|**Charity Registration Number:**|1085722|
|**Trustees:**|Clare Alison Laird (Retired 4 November 2020)|
||Hannah Tait (Appointed 4 November 2020)|
||Anne Tromans|
||Elaine Margaret Hart (Appointed 4 November 2020)|
||Alan John Sinnett (Retired 4 November 2020)|
||Elaine Hart FCILEx is employed with Shakespeare Martineau LLP.|
||The other Trustees are all partners in Shakespeare Martineau LLP.|
||Shakespeare Martineau LLP have received professional fees from the|
||trust as detailed on page 5.|
|**Nature of Governing Instrument:**|The Pamela Barlow Charitable Trust was established by deed on 7 June|
||2000. Clause 4 of the Trust Deed gives the Trustees the power to|
||appoint new Trustees.|
|**Trust Provisions:**|The Trustees shall hold the Trust Fund and the income of it upon trust|
||first to pay from it all proper costs and expenses incurred by the|
||Trustees in administering the Charity and the Trust Fund, and subject to|
||that to pay or apply the income and (if and when the Trustees in their|
||absolute discretion think fit) the whole or any parts of the capital of the|
||Trust Fund to or for such charitable institution or institutions or other|
||charitable object or objects in any part of the world as the Trustees shall|
||in their absolute discretion think fit to support or establish.|
|**Bankers:**|Credit Suisse (UK) Limited (from April 2020)|
||Five Cabot Square|
||London|
||El4 4QR|
||Coutts & Co (to July 2020)|
||440 Strand|
||London|
||WC2R OQS|
|**Solicitors:**|Shakespeare Martineau LLP|
||2ndFloor, Radcliffe House|
||Blenheim Court|
||Solihull|
||B91 2AA|
##
|Investment Managers:|Credit Suisse (UK) Limited (from April 2020)|
|---|---|
||Five Cabot Square|
||London|
||El4 4QR|
||Coutts & Co (to July 2020)|
||440 Strand|
||London|
||WC2R OQS|
|Independent Examiner:|RSM UK Tax and Accounting Limited|
||Chartered Accountants|
||St Philips Point|
||Temple Row|
||Birmingham|
||B2 5AF|
|Principal Office:|Shakespeare Martineau LLP
2KdFloor, Radcliffe House|
||Blenheim Court|
||Solihull|
||B91 2AA|
|Objects and Activities:|To pay income or capital to such charitable institution or institutions or|
||other charitable object or objects as the Trustees shall in their absolute|
||discretion think fit.|
|Policies:|In furtherance of their objects the Trustees made donations listed on|
||page 7.|
|Organisation:|All matters of policy and management of the Trust are determined by|
||regular meeting of the Trustees.|
|Donations:|The Trustees have made donations in the year ended 5 April 2021|
||totalling £29,000.|
|Financial Position:|The accounts have been prepared on a receipts and payments basis.|
||The performance of quoted investments held during the year was|
||satisfactory.|
##
##
##
##
##
##
## Vivian Shadbolt
03/02/22
|**2020**||**2021**|**2021**|
|---|---|---|---|
|£||£|£|
||**GENERAL FUND:**|||
|556,196|Disposal of investments — Coutts portfolio (see appendix)||1,052,771|
||Disposal of investments — Credit Suisse portfolio (see appendix)||282,215|
|29,341|Income from investments||15,072|
||**DEPOSIT INTEREST:**|||
|8|Coutts Client Account interest|6||
|93|Coutts Business Reserve Account interest|||
|240|Coutts Capital Account interest|6||
|341|||12|
|585,878|||1,350,070|
|**585,878**|**TOTAL RECEIPTS**||**1,350,070**|
||**PAYMENTS:**|||
||**CHARITABLE ACTIVITY DIRECT EXPENDITURE:**|||
|(519,366)|Investments purchased at book cost Coutts (see appendix)|||
||Investments purchased at book cost on set up of Credit Suisse||(612,755)|
||portfolio (see appendix)|||
||Investments purchased at book cost Credit Suisse (see appendix)||(680,942)|
|(14,500)|Donations (page 7)||(29,000)|
||**ADMINISTRATION COSTS:**|||
|(43,830)|Shakespeare Martineau Fees|(37,706)||
|(5,640)|Accountancy and Independent Examination Fees|(5,880)||
||Credit Suisse Safe Custody Fees|(1,059)||
|(7,888)|Coutts Investment Management Fees|(2,086)||
||Artorius Investment Management Fees|(7,089)||
|(57,358)|||(53,820)|
|**(591,224)**|**TOTAL PAYMENTS**||**(1,376,517)**|
|(5,346)|**NET (PAYMENTS) FOR THE YEAR**||(26,447)|
||**TOTAL BANK AND CLIENT ACCOUNT BALANCES AT**|||
|111,349|**5 APRIL 2020**||106,003|
||**TOTAL BANK AND CLIENT ACCOUNT BALANCES AT**|||
|106,003|**5 APRIL 2021 (page 6)**||79,556|
|**2020**||**2021**|**2021**|
|---|---|---|---|
|**£**||**£**|**£**|
||**BANK AND CLIENT ACCOUNT BALANCES:**|||
|95,028|Coutts & Co Client Account|-||
||Credit Suisse Accounts|71,167||
|10,975|Shakespeare Martineau LLP Client Account|8,389||
|106,003|||79,556|
||**INVESTMENTS AT COST:**|||
|1,024,715|Market value as at 5 April 2021 £1,155,939 (see appendix)||1,039,975|
|1,130,718|**TOTAL ASSETS**||1,119,531|
||**LIABILITIES:**|||
|3,120|Independent Examiner's Fees|3,180||
|2,760|Accounts Preparation Fees|2,814||
|2,086|Coutts Investment Management Fees|-||
||Artorius Investment Management Fees|2,284||
||Shakespeare Martineau LLP Fees|10,595||
|7,966|||18,873|
|7,966|**TOTAL LIABILITIES**||18,873|
##
##
##
|06/04/2020|Age UK|3,000|
|---|---|---|
|06/04/2020|NHS Charities Trust|3,000|
|06/04/2020|The Trussell Trust|3,000|
|07/07/2020|Henry|2,000|
|07/07/2020|The National Children's bureau|1,000|
|07/07/2020|Royal Manchester Children's hospital|1,000|
|07/07/2020|Roald Dahl's Marvellous Children's Charity|1,000|
|07/07/2020|The Silver Line|1,000|
|07/07/2020|We are Hourglass|1,000|
|07/07/2020|The Panathlon Foundation|2,000|
|07/07/2020|Building Circles|1,000|
|07/07/2020|John Taylor Hospice|2,000|
|07/07/2020|GL 11 Community Hub|2,000|
|07/07/2020|The Bridgend Carers Centre|1,000|
|07/07/2020|The Ambulance Staff Charity|2,000|
|07/07/2020|Carers Trust Solihull|1,000|
|07/07/2020|Brain Research UK|1,000|
|07/07/2020|Sight Savers|1,000|
|||**29,000**|
##
##
##
##
##
|Pamela Barlow Charitable Trust - Year ended 5 April 2021
Investment Schedule (Credit Suisse)||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Units|Cost of||||||||Book|Value|Market|value|
||purchased on|purchases||Units purchased|Cost of purchases||Units disposed|Proceeds|Units c/fwd|c/fwd||c/fwd||
||set up|||||||||||||
|BONDS / FIXED INTEREST||||||||||||||
|Global||||||||||||||
|iShares PLC - iShares GBP Corporate Bond UCITS ETF Shares GBP ETF||||||||||||||
|Transfers in||||||||||||||
|Purchase|447||67,190|244||37574||||||||
|Sale|||||||154|23,920||||||
|iShares PLC - iShares GBP Corporate Bond UCITS ETF Shares GBP ETF||||244||37,574|154|
23,920|537||81,454||81,793|
|iShares III PLC - iShares GBP Corporate Bond ex-Financials UCITS ETF||||||||||||||
|Transfers in||||||||||||||
|Purchase|198||26,158|422||57,127||||||||
|iShares III PLC - iShares GBP Corporate Bond ex-Financials UCITS ETF||||422||57,127|||620||83,285||82,162|
|iShares III PLC iShares FTSE UK Gilts 0-5||||||||||||||
|Transfers in||||||||||||||
|Purchase|195||26,207|96||12,960||||||||
|Sale|||||||77|
10,365||||||
|iShares III PLC iShares FTSE UK Gilts 0-5||||96||12,960|77|
10,365|214||28,803||28,578|
|iShares IV Public Limited Company iShares GBP||||||||||||||
|Transfers in|112||11,247|||||||||||
|Sale|||||||112|
11,270||||||
|iShares IV Public Limited Company iShares GBP||||-||-|112|
11,270||||||
|iShares II PLC- iShares J.P. Morgan USD EM Bond UCITS ETF||||||||||||||
|Transfers in|5,263||22,601|||||||||||
|Sale||||1,994||9,386||||||||
|iShares II PLC- iShares J.P. Morgan USD EM Bond UCITS ETF||||1,994||9,386|||7,257||31,987||34,228|
|iShares II PLC - iShares US Aggregate Bond UCITS ETF||||||||||||||
|Transfers in||||||||||||||
|Purchase|4,908||26,289|12,803||68,279||||||||
|iShares II PLC - iShares US Aggregate Bond UCITS ETF||||12,803||68,279|||17,711||94,569||91,460|
|iShares II PLC - iShares USD High Yield Corp Bond UCITS ETF Shares Hedged GBP ETF||||||||||||||
|Transfers in||||||||||||||
|Purchase|6,544||29,753|3,283||14,857||||||||
|iShares II PLC - iShares USD High Yield Corp Bond UCITS ETF Shares Hedged GBP ETF||||3,283||14,857|-||9,827||44,610||47,924|
|**EQUITIES**||||||||||||||
|Europe ex UK||||||||||||||
|Wienerberger AG||||||||||||||
|Transfer in||||||||||||||
|Sales|||||||216|
4,525||||||
|Purchased|189||2,600|27||482||||||||
|Wienerberger AG||||27||482|216|
4525||||||
|Etablissementen Franz Colruyt NV||||||||||||||
|Purchase||||64||2,957||||||||
|Etablissementen Franz Colruyt NV||||64||2,957|||64||2,957||2,768|
|Continued - see next page||||||||||||||
|Pamela Barlow Charitable Trust - Year ended 5 April 2021
nvestment Schedule (Credit Suisse)||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Units||||||||Book Value|
Market|value|
||purchased on Cost of
purchases
set up||Units purchased|Cost of purchases|Units disposed|Proceeds||Units c/fwd|c/fwd|c/fwd||
|3i Infrastructure PLC||||||||||||
|Transfer in||||||||||||
|Purchase|11,811|
29,641|3,491|
9,786||||||||
|Sale|||||1,359||4,053|||||
|3i Infrastructure PLC|||3,491|
9,786|1,359||4,053|13,943|35,926||41,341|
|Linde PLC||||||||||||
|Transfer in||||||||||||
|Purchase|17|2,500|5|
849||||||||
|Sale|||||5||906|||||
|Linde PLC|||5|849|5||906|17|
2,588||3,440|
|Ferguson PLC||||||||||||
|Purchase|||56|
3,936||||||||
|Sale|||||21||1,687|||||
|Ferguson PLC|||56|
3,936|21||1,687|35||2,460|3,131|
|ALTERNATIVE INVESTMENTS||||||||||||
|Commodities and precious metals||||||||||||
|WisdomTree Hedged Metal Securities Limited||||||||||||
|Purchase|||5,909|
61,756||||||||
|WisdomTree Hedged Metal Securities Limited|||5,909|
61,756||||5,909|
61,756||55,685|
|Real Estate||||||||||||
|Empiric Student Property PLC||||||||||||
|Transfer in||||||||||||
|Purchase|19,509|
12,765|13,045|
7,732||||||||
|Sale|||||32,554||19,098|||||
|Empiric Student Property PLC|||13,045|
7,732|32,554||19,098|||||
|Primary Health Properties PLC||||||||||||
|Transfer in||||||||||||
|Purchase|8,042|
12,624|4,384|
6,693||||||||
|Sale|||||12,426||18,590|||||
|Primary Health Properties PLC|||4,384|
6,693|12,426||18,590|||||
|M&G Property Portfolio Shares Class R - Transferred from Coutts||||||||494||4,538|4,538|
|M&G Property Portfolio Shares Class R||||||||494||4,538|4,538|
|GRAND TOTAL||612,755||680,942|||282,215||1,039,975||1,155,939|
||Units b/fwd|Book Value b/fwd|Market Value b/fwd|Units disposed|Proceeds||Units c/fwd Book Value Market
c/fwd
value c/fwd|Units c/fwd Book Value Market
c/fwd
value c/fwd|
|---|---|---|---|---|---|---|---|---|
|BONDS / FIXED INTEREST|||||||||
|Global|||||||||
|Bluebay Emerging Market Local Currency Bond|||||||||
|Sale||||119.536||10,869|||
|Bluebay Emerging Market Local Currency Bond|119.536|12,578|10,304|119.536||10,869|||
|Pimco Funds: Global Investors Series Plc Shs|||||||||
|||||1,027.603||11,304|||
|Pimco Funds: Global Investors Series Plc Shs|L027.603|12,549|11,006|1,027.603||11,304|||
|Pimco Funds: Global Investors Series Plc Institutional Shares UK Corporate Bond|||||||||
|Sale||||2,653,530||26,774|||
|Pimco Funds: Global Investors Series Plc Institutional Shares UK Corporate Bond|2,653.530|26,809|26,509|2,653.530||26,774|||
|Pimco Funds: Global Investors Series Plc Shares Institutional Class GBP|||||||||
|Purchase||||1,825.554||23,623|||
|Pimco Funds: Global Investors Series Plc Shares Institutional Class GBP|1,825.554|25,720|23,477|1,825.554||23,623|||
|Equator UK Sovereign Bond Index Fund|||||||||
|Sale||||25,205.475||28,492|||
|Equator UK Sovereign Bond Index Fund|25,205.475|25,599|28,470|25,205.475||28,492|||
|Invesco Markets II Plc Shares Hedged|||||||||
|Sale||||1,827.000||82,970|||
|Purchase|||||||||
|Invesco Markets II Plc Shares Hedged|1,827.000|74,355|83,572|1,827.000||82,970|||
|Neuberger Berman Investment Funds Plc|||||||||
|Purchase|||||||||
|Sale||||2,684.975||23,198|||
|Neuberger Berman Investment Funds Plc|2,684.975|25,735|22,849|2,684.975||23,198|||
|Barings Umbrella Fund Plc Shares GBP|||||||||
|Purchase||||121.566||10,603|||
|Barings Umbrella Fund Plc Shares GBP|121.566|12,787|10,056|121.566||10,603|||
|Vontobel Fund SICAV Shares|||||||||
|Sale||||319.765||26,067|||
|Vontobel Fund SICAV Shares|319.765|33,716|26,019|319.765||26,067|||
||||||||**Book Value Market**|**Book Value Market**|
|---|---|---|---|---|---|---|---|---|
||**Units**b/fwd|**Book Value**b/fwd|**Market Value b/fwd**|**Units disposed**|**Proceeds**||**Units c/fwdc/fwd**|**value**c/fwd|
|**EQUITIES**|||||||||
|**North America**|||||||||
|Equator US Equity USD Class C|||||||||
|Sale||||276,790439||258,019|||
|Equator US Equity USD Class C|276,790.439|241,047|244,694|276,790.439||258,019|||
|**Europe ex UK**|||||||||
|Baring Europe Select Trusts GBP|||||||||
|Sale||||448.600||16,091|||
|Baring EuroF|448.600|17,846|15,109|448.600||16,091|||
|BlackRock Index Selection Fund Units|||||||||
|Sale||||4,112.610||32,740|||
|BlackRock In|4,112.610|37,987|30,911|4,112.610||32,740|||
|**United Kingdom**|||||||||
|Coutts Multi Asset UK Growth Fund Class C - Distributing|||||||||
|Sale||||135,615.960||143,550|||
|Coutts Multi Asset UK Growth Fund Class C- Distributing|135,615.959|135,117|136,891|135,615.960||143,550|||
|Equator UK Equity Class C Distributing|||||||||
|Sale||||300,125.650||246,733|||
|Equator UK Equity Class C Distributing|300,125.647|225,160|233,348|300,125.650||246,733|||
|**Japan**|||||||||
|JPMorgan Fund ICVC Shares Class|||||||||
|Sale||||6,850.496||19,394|||
|JPMorgan Fund ICVC Shares Class|6,850.496|
16,380|
18,661|6,850.496||19,394|||
|**Pacific Basin ex Japan**|||||||||
|Fidelity Asian Smaller Companies|||||||||
|Sale||||1,269.810||7,069|||
|Fidelity Asian Smaller Companies|1,269.810|
9,010|
6,815|1,269.810||7,069|||
|Schroder International Selection Fund|||||||||
|Sale||||34.890||11,188|||
|Schroder International Selection Fund|34.890|
12,693|
10,855|34.890||11,188|||