2022-04-05-accounts - The Joseph And Elizabeth Hodgson Trust Fund

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Name of	Charity	Charity	The Joseph &Elizabeth	Trust Fund	Trust Fund
Charity Number			1108192
Governing		Instrument	Declaration ofTrust dated 15th	February	2005
			establishing an unincorporated	Charitable	Trust
Trustees			Mr M G Brabner
			Mr TA F Leary
			MR R ESGill
Principal	Office of		Horton House
the Charity			Exchange Flags
			Liverpool L2 3YL
Investment		Advisers	Investec Wealth 5Investment
			The Plaza
			Old Hall Street
			Liverpool L39AB

		JOSEPH ELIZABETH HODGSON TRUST FUND
		ACCOUNTS FOR THE YEAR ENDED 5APRIL 2022
Solicitors		Brabners LLP
		Horton House
		Exchange Flags
		Liverpool L2 3YL
independent	Examiner	Giles Mattocks FCA
		Mattocks Grindley
		18Mulberry Avenue
		Widnes WA8 OWN

			Unrestricted	funds 2021	Total Funds
Incomin Resources			~Ca ital	Income	2022	2021
			E	E	E	E
Incoming resources	from generated	funds
investment income			1,544	90,071	91,615	68,173
Total incoming resources			1,544	90,071	91,615	68,173
Resources ex ended
Costs ofgenerating	funds
Investment management			19,676		19,676	18,018
Charitable activities				92,839	92,839	113,034
Governance			6,059	7,480	13,539	7,428
Scholars Dinner				422	422
Bank transfer fee				19	19	19
Total resources expended			25,735	100,760	126,494	138,499
Net outgoing resources
for the year			(24,191)	(10,689)	(34,879)	(70,326)
Gain on revaluation	of
Investments			110,647		110,647	754,484
Gain on sale of
Investments			3,568		3,568	66,551
Total funds brought	forward
at 5th April 2021			4,010,043	(43,213)	3,966,829	3,216,120
Total funds carried forward
at 5th April 2022			4,100,067	(53,902)	4,046,165	3,966,829

Capital account per Schedule 1	Capital account per Schedule 1	Capital account per Schedule 1			4,100,067
Income account per Schedule 3					(53,902)
					4,046,165
Represented	by:-
Trust Investments		at Market Value per Schedule 2/6			3,938,970
Cash held by	Investec Wealth &Investment		Limited
		Capital		84,074
		Income		18,773
Cash held by	Brabners LLP			10,289	113,136
less: Creditors
Bank transfer	fees			19
Brabners LLP	(Half	yearly invoice)		3,582
Independent	Examiners Fee			2,340	(5,941)
					4,046,165

3.Investment	Income							2022	2021
								f	f
Stock exchange investments								91,165	68,170
Interest received Brabners		LLP							3
								91,165	68,173
4.Charitable	Activities							2022	2021
								f	f
Donations								~92839	113034
5.Governance	costs							2022	2021
								f	f
Accountancy,	Legal and Independent			Examiner's		Fees		~13539	~7428
6.Other resources ex ended								2022	2021
								f	f
Investment management		costs						~19676	~18018
7.Cash at bank								2022	2021
								f	f
Brabners LLP								10,289	7,569
Barclays PLC								0	22,689
								10,289	30,258
8.Current liabilities: amounts			fallin	due within		one	ear	2022	2021
								f	f
Accountancy,	legal and Independent			Examiner's		fees		5,940	3,660
Outstanding final fee payment			for Liverpool		University
2020 LLM and	PhD Scholars								55,857
								5,940	59,517

					2022	2021
					E	E
Balance at	5th April 2021				4,010,043	3,211,037
Add:
Equalisation	payment				1,544	92
Gain on sale ofinvestments			per Schedule 6		3,568	66,551
Unrealised	gain on revaluation			to market value at 5 April 2022
at 5 April 2022 (Schedule 2)					110,647	754,484
					4,125,802	4,032,165
less:
Investec Wealth and		Investment		Ltd fees	19,676	18,018
DSG Tax Return						420
Brabners LLP annual		fees			4,889	3,000
Fees for preparation		ofa deed		ofappointment		360
Independent	Examiner's fees				1,170	324
					25,735	22,122
To Balance	Sheet				4,100,067	4,010,043
Note:-
Capital account					2022	2021
					f	E
Represented	by:-
Investments	at market value				3,938,970	3,894,750
Cash					161,097	115,293
					4,100,067	4,010,043

Holding		Security	Market	Market	Surplus/
			Value at	Value	(deficit)
			5.4.2021	at	on
			or cost	5.4.2022	revaluation
486		Astrazeneca pic ord $0.25	34,863	50,228	15,365
680		British American Tobacco	18,464	21,956	3,492
		pic-ord 25p
1220.000		Diageo pic ord 28101/108p	36,682	48,541	11,859
2,250		Glaxosmithkline pic	28,748	38,331	9,583
		ord 25p
4,700		HSBC Holdings pic	19,887	24,807	4,920
		ord $0.50 (UK reg)
8,100		Legal &General Group pic	22,968
(8,100)		ord 0.25p	(22,968)
			0
1,100		RioTinto pic ord 10p	60,297	67,315	7,018
11,570		Artemis Fund Managers	8,527	8,043	(484)
		Ltd High Income Fund
1,600		Experian pic ord USD0.10	40,744
(420)			(10,695)
	1,180		30,049	34,887	4,838
1,100		Findlay Park Funds pic	131,496	150,721	19,225
		FPAmerican Smaller Cos
1,140		Unilever pic ord 0.031111p	45,848	40,310	(5,538)
47,650		Manfd Mgmnt UK Ltd Man	86,675
		GLG Japan Core Alpha Prof
		acc dividend adjustment	1,552
			88,227	93,346	5,119
6,250		Aviva pic ord 25p	25,572	27,503	1,931

Holding	Security		Market	Market	Surplus/
			Value at	Value	(deficit)
			5.4.2021	at	on
			or cost	5.4.2022	revaluation
1,460	Smith R Nephew	ord	19,852
(1,460)	US80.20		(19,852)
1530	Compass Group ord 0.1105		22,870	25,180	2,310
34,166	Int Public Partners	0.0001p	57,536	58,526	990
10,204	Melrose Indst pic	ord .686	17,719
(1,021)	9:10consolidation		(1,773)
9,183			15,946	11,288	(4,658)
11,480	Baillie Gifford American		198,374
(2,340)	Brow lnc		(40,435)
9,140			157,939	124,852	(33,087)
45,079	GCP Infrastructure	Ord	46,116	50,308	4,192
	0.01p
112,475.55	Schroder Unit Tst Asian		154,654
	acc dividend adjustment		1,042
(48,668)	Alpha Plus Zacc		(67,369)
112,476			88,326	80,461	(7,865)
1,550	BHP Group PLC US$0.50		32,050	45,954	13,904
8,354.208	Blackrock AM UK Blk UK		116,625
	Smaller Cos Acc
	accdividend adjustment		1,001
			117,626	121,569	3,943
66,876.37	Franklin Templeton	inc UK	99,967
	Mid Cap W
	acc dividend adjustment		1,907
			101,874	96,302	(5,572)

Holding	Security		Market	Market	Surplus/
			Value at	Value	(deficit)
			5A.2021	at	on
			or cost	5.4.2022	revaluation
62,920	Primary Health Property		92,964
(35,384)	ord 0.125		(52,808)
27,536			40,156	41,566	1,410
122,812.1578	Royal London UTM	Sting	175,867	165,428	(10,439)
	Credit Gross MC
103,000	Charities Property	Fund	128,111
(103,000)	income		(128,111)
0
620	Intertek Group ord	0.01p	35,470	32,779	(2,691)
74,732.989	JP Morgan AM UK	Ltd US	96,854	113,594	16,740
	Equity Income Cinc Nav
37,000	Blackrock European		92,223
(10,021)	Dynamic Fund		(24,977)
26,979			67,246	69,570	2,324
48,700	Nextenergy Solar Frd		49,041	50,307	1,266
f77,000	UK (Govt) 2%Gilt 7/09/25		83,008	78,434	(4,574)
715	invesco Physical MA		86,564	101,443	14,879
	Secured Gold Ltd Nts US$
4,410	Auto Trader Group	ord 0.01	24,692	29,106	4,414
48,328	Civitas Social Hon ord 0.01		52,098	42,577	(9,521)
	2/12/22
35,000	Citi Group Gbl Lux	0%	59,255	58,625	(630)
838	Associated British Foods		20,535
(838)	ord 0.0568		(20,535)
E56,900	UK (Govt) 0.125%index		76,032	80,648	4,616
	linked Snr 22.03.26
23,386	Polar Cap Gbl Health		56,828
(23,386)	ord 0.25		(56,828)

Holding	Security	Market	Market	Surplus/
		Value at	Value	(deficit)
		5.4.2021	at	on
		or cost	5.4.2022	revaluation
77,050.458	M&G Securities Ltd Gbl	74,731	74,531	(200)
	Floating Rate High Yield
	(18/06/20)
79,400	Schroeder Unit Tst Europe	67,506	69,539	2,033
	C lnc Nav Sett
60,000	Valu-Trac Invest Protean	58,519	57,075	(1,444)
	Capital Eledr A Dis
70,400	RBCToronto 1.5/0 Nts	64,137
(70,400)	Steepener 29/08/22	(64,137)
2,250	Halma PLC ord 0.10p	54,866
(1,060)		(25,848)
1,190		29,018	30,666	1,648
26,500	Link Fund Sol Ltd LF	97,687	102,014	4,327
60,000	Linked Fund Sol Ltd	129,276
(15,300)	Miton US Smaller Cos	(32,965)
44,700	Now premier Portfolio	96,311	79,030	(17,281)
16,900	Sequoia Economic INPV	17,627	17,356	(271)
415	London Stock Exchange	29,996
144	ord 0.06918604	9,779
559		39,775	46,727	6,952
1,840	Bunzl ord 0.32142857	43,433	56,681	13,248
9,800	Ishares PLC USD	52,151	53,096	945
87,500	Thesis UT Mgmnt Ltd	129,929
	Tellworth UK Smt CO
	accdividend adjustment	794
		130,723	123,375	(7,348)
3,390	National Grid	29,276	41,044	11,768
	ord 0.12431289p
5,200	Phoenix Gp Hldg ord 0.10p	37,060	32,427	(4,633)

			Schedule 2/5
	SCHEDULE OF INVESTMENTS AS AT5APRIL		2022
Holding	Security	Market	Market	Surplus/
		Value at	Value	(deficit)
		5.4.2021	at	on
		or cost	5.4.2022	revaluation
1,200	Greggs ord 0.02p	27,576	29,376	1,800
575	Findley Park Fds	68,839	78,867	10,028
	American
114,110	Canadian Imperial Bank	101,958	118,241	16,283
	136%SRP Accul 26 USD
319	Invesco Physical Secured	38,593
178	Gold Lkd Nts 31/12	23,024
497		61,617	70,606	&,989
1,450	Schroder PLC Non Vtg Ord	36,649	28,667	(7,982)
152,000	FIL Inv Suc UK Money	154,584	143,154	(11,430)
	Builder income
12,910	Frst Sentier Invr Stewart	124,281
	Invrs Asia Pac Ldrs
	acccdividend adjustment	297
		124,578	130,193	5,615
PURCHASES IN YEAR
48,480	Aquila Energy Effi ord 0.01	48,515	36,724	(11,791)
102,000	Barclays Bank PLC602%	101,035	101,031	(4)
	FTSE/SRP Inc
43,440	Empiric Student GBP0.01	39,740	38,966	(774)
63,000	FIL Inv Svcs UK Global Div	136,871	136,899	28
23,600	GCP Student Living Ord .01	40,156
(23,600)		(40,156)
		0
1,710	Relx PLC GBP0.1444	36,627	41,801	5,174

10,800 Secure	Income REIT	40,482	48,978	8,496
93,600 Schroder Unit Tst Global C		60,210	67,401	7,191
Unrealised gain on revaluation	to market value
at 5 April 2022 to Schedule 1			3,938,970	110,647

					Schedule 3
				INCOME ACCOUNT
					2022	2021
					E	E
Balance	at 5th April 2021				(43,213)	5,083
Add:-
Dividends per Schedule 4/4					54,103	68,077
Other investment		income	per	Schedule 5/2	35,968
Brabners	LLp gross	interest
					46,858	73,164
Less:-
Income payments:
Tofund	PhD students				36,259	55,454
Tofund	LLM students				56,580	57,580
Bank transfer fees					19	19
Independent Examiner's			Fees		1,170	324
Brabners	LLP annual fees				4,889	3,000
Website	fees				1,421
Scholars	Dinner				422
					(100,760)	(116,377)
To Balance Sheet					(53,902)	(43,214)

Holding		Date	Dividend
UK DIVIDENDS
Associated	British Foods	09/07/2021	51.96
Astrazeneca		13/09/2021	314.93
		28/03/2022	706.16
Auto Trader	Group	24/09/2021	220.50
		28/01/2022	119.07
Aviva		14/05/2021	875.00
		07/10/2021	459.38
BHP Group	PLC	21/09/2021	2,237.86
British American Tobacco		12/05/2021	366.52
		19/08/2021	366.52
		11/11/2021	366.52
		09/02/2022	366.52
Bunzl		01/07/2021	704.72
		05/01/2022	298.08
Compass Group		28/02/2022	214.20
Diageo		08/04/2021	341.11
		07/10/2021	544.00
Experian		23/07/2021	377.23
		04/02/2022	137.98
Glaxosmithkline		08/04/2021	517.50
		08/07/2021	427.50
		07/10/2021	427.50
		13/01/2022	427.50
Greggs		08/10/2021	180.00
Halma		12/08/2021	242.55
		04/02/2022	87.47

HSBC Holdings	HSBC Holdings	HSBC Holdings	PLC	29/04/2021	507.24
				30/09/2021	240.65
Intertek	Group			18/06/2021	443.92
				07/10/2021	212.04
JP Morgan		Europe - Aremis		19/04/2021	92.06
				28/07/2021	115.85
				12/10/2021	97.86
				12/01/2022	93.66
Legal 5General			Gp	27/05/2021	1,023.84
				20/09/2021	419.58
London Stock Exchange				26/05/2021	214.56
				21/09/2021	103.75
Melrose	Indust		PLC	19/05/2021	76.53
				15/10/2021	68.87
National	Grid			18/08/2021	1,090.22
				19/01/2022	583.42
Polar Cap		Gbl Heal		31/08/2021	233.86
Phoenix	Gp Hdgs PL			18/05/22021	1,253.20
				03/09/2021	1,253.20
Primary	Hlth Prop			25/02/2022	447.46
RioTinto				15/04/2021	3,174.93
				23/09/2021	4,445.10
Schroders		PLC		06/05/2021	1,145.50
				23/09/2021	536.50
Smith 5	Nephew			12/05/2021	242.65
				27/10/2021	153.30
Unilever	PLC			10/06/2021	422.94
				08/09/2021	421.00
				01/12/2021	410.17
				22/03/2022	410.63

UK UNIT TRUST DIVIDENDS	UK UNIT TRUST DIVIDENDS
Blackrock	Am UK		30/04/2021	210.55
			29/10/2021	790.06
First Sentier Invr			30/09/2021	297.09
Franklin	Tmpltn Fd		28/05/2021	676.82
			30/11/2021	1,229.79
JP Morgan	Funds Ltd		30/04/2021	485.76
US Equity	lnc KGBP		30/07/2021	470.82
			29/10/2021	530.60
			31/01/2022	485.76
Link Fund	Sol Ltd		14/05/2021	300.99
LF Ruffer Total rtn			15/11/2021	864.32
Man Fd Mfmnt UK Ltd			31/07/2021	1,552.48
Schroder Unit Trust			31/08/2021	1,041.75
			19/11/2021	315.24
			15/03/2022	768.27
Thesis UT	Mgmt Ltd		31/05/2021	93.19
			30/11/2021	700.79
OVERSEAS DIVIDENDS
BHP Group Ltd		Australia	28/03/2022	1,741.90
GCP Infrastructure		Jersey	08/06/2021	788.88
			09/09/2021	788.88
			09/12/2021	788.88
			08/03/2022	788.88
INT Public	Partner	Guernsey	04/06/2021	1,257.31
			17/11/2021	1,291.47
Nextenergy Solar F		Guernsey	08/06/2021	858.34
			30/09/2021	871.73
			31/12/2021	871.73
			31/03/2022	871.73

Barciays	Barciays	Bank PLCf6.2%FTSE/S&P	Bank PLCf6.2%FTSE/S&P	12/01/2022	3,162.00
UK 2%SNR 7/09/2025				07/09/2021	770.00
				07/03/2022	770.00
UK 0.125%Idx/Lkd 22/03/26				22/09/2021	42.01
				22/03/2022	43.75
Deposit		account interest		05/04/2022	1.38
UNIT	TRUST INTEREST
Charities		Prop Fd		14/05/2021	1,435.56
FIL Inv Svcs UK				26/04/2021	265.24
				26/05/2021	431.98
				25/06/2021	434.57
				26/07/2021	431.07
				26/08/2021	469.07
				24/09/2021	435.94
				26/10/2021	430.62
				26/11/2021	423.47
				26/12/2021	422.86
				26/01/2022	511.63
				25/02/2022	437.15
				25/03/2022	396.42
M&G	Securities		Ltd	30/06/2021	681.43
				30/09/2021	725.35
				31/12/2021	725.89
				31/03/2022	1,077.17
Roya	I Londom		Utm	30/06/2021	1,241.53
				30/09/2021	1,501.26
				31/12/2021	1,576.54
				31/03/2022	1,536.87

Valu-Trac Investment		28/05/2021	615.81
Protean Capital Elder		31/08/2021	602.94
		30/11/2021	625.20
		28/02/2022	625.20
REAL ESTATE INVESTMENT TRUST
Total of UK REIT Distribution			6,497.46
OVERSEAS INTEREST
Ishares li PLC	Eire	26/05/2021	165.62
USD Tips Ucits EtfGBP		25/08/2021	140.14
		24/11/2021	121.52
		24/02/2022	123.48
RBCToronto	Canada	29/05/2021	2,141.30
30Y-2YSteepner 2022 USD		29/08/2021	2,235.01
		29/11/2021	1,693.74
Other investment income to Schedule 3			35,968.18

Holding		Date of	Market	Sale	Profit/
		sale	Value	Proceeds	(loss) on
			@5/04/2021		sale
			or purchase
Associated British Foods Ord 0.0568		11/11/21	20,535	16,824	(3,711)
Baillie Gifford American		8/2/22	40,435	30,713	(9,722)
Blackrock Fm Ltd European	Dynamic	20/7/22	24,977	27,262	2,285
Charities Property Fund		25/3/21	128,111	127,325	(786)
Experian Ord USD0.10		13/10/21	10,695	13,036	2,341
GCP Student Living ord .01		24/12/21	40,156	50,268	10,112
Halma Ord GBP0.10		13/10/21	25,848	29,297	3,449
Legal &General GBP0.025		1/12/21	22,968	23 133	165
Melrose Industries		31/8/21	1,773	1,531	(242)
Polar Cap GBL Heal GBPord	0.25	2/9/21	56,828	68,017	11,189
Premier Portfolio Pm USSmaller Cos		29/4/21	32,965	34,873	1,908
Primary Hlth Pro ord 0.125		16/4/21	52,808	52,474	(334)
RBCToronto Branch 30Y-2YSteepner		12/1/22	64,137	53,683	(10,454)
Schroder Unit Tst Asian Alpha Plus		20/7/21	67,369	65,472	(1,897)
Smith &Nephew ord USD 0.20		10/1/22	19,852	19,117	(735)
Loss on sale to Schedule 1			609,457	613,025	3,568