| Pages | 1 —3 | Trustees' Annual Repott |
Trustees' Annual Repott |
|---|---|---|---|
| 4-6 | Independent Auditors' |
Report | |
| Statement ofFinancial | Activities | ||
| Balance Sheet | |||
| Statement ofCash Flows | |||
| 10 —13 | Notes to the Accounts |
| General | |||||
|---|---|---|---|---|---|
| Notes | Funds | ||||
| 2021 | 2020 | ||||
| INCOME AND EXPENDITURE | |||||
| Income from investments | 80,850 | 76,460 | |||
| Total income | 80,850 | 76,460 | |||
| Expenditure: | |||||
| Expenditure on charitable |
activities | 30,000 | 37,000 | ||
| Governance costs |
38,046 | 14,590 | |||
| Total expenditure | 68,046 | 51,590 | |||
| Net income before gains | on investments | 12,804 | 24,870 | ||
| Gain / (loss) on disposal | ofinvestments | 21,395 | (92,684) | ||
| Gain on revaluation ofinvestments |
478,479 | 346,293 | |||
| Net movement in funds |
512,678 | 278,479 | |||
| Total funds brought forward | 3,754,283 | 3,475,804 | |||
| Total funds carried forward | K4,266,961 | K3,754,283 |
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| Fixed assets | ||||
| Investments | 4,054,852 | 3,568,954 | ||
| Current assets | ||||
| Cash at bank | and in hand | 225,109 | 198,329 | |
| Creditors due within one year | (13,000) | (13,000) | ||
| Net current | assets | 212,109 | 185,329 | |
| Total assets | less current liabilities | X4,266,961 | K3,754,283 | |
| Income funds | ||||
| Unrestricted | funds: | |||
| General funds | 4,266,961 | 3,754,283 | ||
| K4,266,961 | X3,754,283 |
| 2021 | 2020 | ||
|---|---|---|---|
| Cashflow from operations | |||
| Payments | |||
| Expenditure on charitable activities Governance costs Interest paid |
30,000 38,046 |
56,000 14,530 |
|
| Total payments | 68,046 | 70,530 | |
| Net cash outflow from operations | (68,046) | (70,530) | |
| Investing activities |
|||
| Dividends received Interest received on cash deposits Purchase ofinvestments Proceeds fiom disposal ofinvestments |
80,827 23 (362,965) 376,941 |
76,424 36 (489,290) 488,082 |
|
| Net cashflow from investing | activities | 94,826 | 75,252 |
| Increase in cash for year | 26,780 | 4,722 | |
| Cash brought forward | 198,329 | 193,607 | |
| Cash carried forward | f225,109 | KI98,329 |
| 2. | Income from investments | 2021 | 2020 | |
|---|---|---|---|---|
| Dividends and interest receivable from investments |
80,827 | 76,424 | ||
| Interest on cash deposits | 23 | 36 | ||
| K80,850 | K76,460 | |||
| 3. | Direct charitable expenditure |
2021 | 2020 | |
| Grants payable to institutions | in | |||
| furtherance ofthe Charity's |
objectives | |||
| The Cool Play Trust | 10,000 | |||
| Charlotte Cardinals Rugby Club |
10,000 | |||
| Vision Sports Ireland | 10,000 | |||
| Friends ofRwandan Rugby |
10,000 | |||
| Lesotho Rugby Academy | 7,000 | |||
| The Matt Ratana Rugby Foundation | 10,000 | |||
| Max Brito Rugby Centre | 10,000 | |||
| S30,000 | K37,000 | |||
| 4. | Governance costs |
2021 | 2020 | |
| Investment management charges |
30,775 | 12,079 | ||
| Audit fee | 3,000 | 3,000 | ||
| Insurance | 614 | |||
| Losses /(gains) on foreign exchange rates Bank charges |
3,521 136 |
(681) 192 |
||
| 38,046 | 14,590 |
| Investments | |
|---|---|
| Market Value at 1"January, 2021 | 3,568,954 |
| Additions at cost |
362,965 |
| Disposal proceeds | (376,941) |
| Gain on disposal | 21,395 |
| Gain on revaluation | 478,479 |
| Market value at31"December, 2021 | K4,054,852 |
| Cost at31"December, 2021 | f.2,113,402 |
| over 5%ofportfolio | by value a | re | : | , | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Alliance Trust Plc | 410,736 | 358,598 | ||||
| Artemis Strategic Global Select | JInc | 230,094 | 194,112 | |||
| Bankers Investment | Trust Plc | 338,250 | 303,600 | |||
| Foreign 4,Colonial | Investment | Trust Plc | 306,043 | 260,104 | ||
| Scottish American | Investment | Company | Plc | 247,508 | 212,280 | |
| Scottish Mortgage | Investment | Trust Plc | 307,625 | 517,164 | ||
| Creditors due within one year | 2021 | 2020 | ||||
| Accruals | f.13,000 | f, 13,000 |
| General | Funds | |||
|---|---|---|---|---|
| Unrestricted | funds | 2021 | 2020 | |
| At 1"January, | 2021 | 3,754,283 | 3,475,804 | |
| Net movement | in funds | 512,678 | 278,479 | |
| At 31"December, 2021 | S4,266,961 | K | 3,754,283 | |
| Represented | by: | 2021 | 2020 | |
| Investments | 4,054.852 | 3,568,954 | ||
| Net current assets | 212,109 | 185,329 | ||
| f.4,266,961 | K | 3,754,283 |