##
##
##
|h Year|Ended S
A r
2||
|---|---|---|
|||Page|
|Trustees'
Annual Report||1-3|
|Independent|Examiner's Report||
|Statement of|Fiuaoclai Activities||
|Batance sheet|||
|Notes to the Financial Statements||7-11|
|Charity Name:|Charity Name:|The Francis Bernard|Caunt Education Trust.|
|---|---|---|---|
|Governing|D'oenmenk|Trust deed dated 7|February 2005.|
|Registered|Charity Nuraber:|1108858||
##
|Charley Trus|Charley Trus|tees:|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The Sllowiug||are|the names of|the Trustees who|have acted at|||any time|during|the course of||the|relevant financial|||period and|
|at the date of||this|rcport-||||||||||||||
|||||RP Fisher|||||||||||||
|||||A Hudson|||||||||||||
|||||HN Newsum|||||||||||||
|||||Miss JParlby|||||||||||||
|||||M RPurser|||||||||||||
|||||CRossiu|||||||||||||
|||||Mrs DKRyan|||||||||||||
|Principal Address:||||10Lombard|Street, Newark,|||Notttughamshbe,||NG24|1XE.||||||
|Independent||Ksaminer:||Adriau
Heigh||FCA,|Stepbenson||Nuttsll|dk Co.,|Chartered|||Accountants,||Ossington|
|||||Chambers,
6/8||Castle|Gate,|Newark,|Nottinghamsbire,||NG24||1AX.||||
|Investment|Managerm|||Brewin Dolphin LtcL,|||1"Floor, Water&out House, Waterfront||||||Plaza, 35Station|||Street,|
|||||Nottingham,|NG2 3DQ.||||||||||||
|Bankers:||||National
Westminster|||Bank|pic., 1 Market Place, Newark,||||Nottinghamshire,|||NG24 1DY.||
|Specific R'astriet|||iona:|None.|||||||||||||
|Investment|Powers:|||By authority|ofthe Trust deecL||||||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|STATEMENT OF FINAN
for the Ye
E ded|CIAL A|IVITIES|CLUDIN|G
ME A|ND EX|PENDI|TURE ACCOU|NT|
|---|---|---|---|---|---|---|---|---|
||||||||Total|Total|
||||||||Fuads|Funds|
|||||Iinrestrieted|Endowraent||Year Eaded|Year Ended|
|||||Funds|Funds||5/4/Zl|5/4/20|
||||Notes||||8||
|INCOME|||||||||
|Donations||||985|||985||
|Iavestment Income|||||||||
|Dividends - Equities||||18,171|||18,171|21,548|
|Dividends
—Absolute return|ftmds|||5,021|||5,021|4,210|
|Interest - I/K government
bonds
Interest - Corporate bonds||||2,825
8,131|||2,825
8,131|3,500
10,986|
|Interest cn cash deposits||||56|||56|'329|
|Rental income||||12820|||~1||
|TOTAL INCOME||||4~009||||~5|
|EXPENDITURE|||||||||
|Costs ofraismg fimds||||2,439|8,193||10,632|12,284|
|Charitable
activities||||39290|||39390|38,568|
|Other costs
TOTAL EXPENDITURE||||3 983
~4712|||3983
~05|3 '659
~54'511|
|NET INCOME/(EXPENDITURE)||BEFORK|||||||
|GAINS/(LOSSES) ON INVKSTMKNTS|||||(S,193)||(53)96)|61|
|GAINS/(LOSSES) ON INVESTMENT ASSETS|||||||||
|Investments
Gains/(Losses)|- Realised||||36,182||36,182|(2,622)|
|Investments
Gains/(Lasses)
TOTA,LGAINS/(LOSSES)|-Unrealised
ON INVKSTMKNT||7
ASSETS||~11
~I|187|115187
~151 69|~135525|
|NKT INCOME/(EXPENDITURE)|||||143,176||145,473|(13@086)|
|TRANSFERS BETWEEN|FUNDS||||||||
|NET MOVEMENT IN FUNDS|||||143,176||145,473|(138sOS6)|
|RECONCILIATION
OFFUNDS|||||||||
|Total funds brought
forward|||||~100|058|1 41335S|~1551444|
|TOTAL FUNDS CARRIED FORWARD|||||||||
##
|BALANCE SHEET
A rB
21|||||||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted||Endowment|Total|Total|
|||||Funds||Funds|Funds|Funds|
||||Notes|5/4/21
f||5/4/21|5/4/21|5/4/20f|
|FIXEDASSETS|||||||||
|Investments
-l.isted investments||||||1,147,991|1,147,991|1,017,652|
|Investments
-Cash deposits
investmentP~||||||37,377
~260|37,377
~2|24+65
260 000|
|||||||1,445;368|1,445,368|1,301,917|
|CURRENT ASSETS|||||||||
|Debtors|||10||358||35&|349|
|Cash atbank||||~ll|730||0|117045|
|||||120,088|||120,088|117,394|
|LIABILITIES
Creditors: Amounts
fall tn8 due within
NKT CURRENT ASSETS||one year||~4491
115597||~2134
~4|~6625
113463|111441|
|TOTAL NET ASSETS|||||||||
|FUNDS OF THE CHARITY|||14||||||
|UNRESTRICTED FUNDS|||||||||
|General Reserve||||115,597|||115,597|113,300|
|RESTRICTED FUNDS|||||||||
|Expendable
Endowment|Funds|||||1 443 234|1443 234|I 300058|
|TOTAL CHARITY FUNDS|||||||||
|Thefinancialstatements|wereapproved|andauthorised|for issue|b the|Trustees|on .|(7 (( Zcrg(||
##
##
##
##
##
##
##
##
##
||
ihe table below.|||||
|---|---|---|---|---|---|
|||||Total|Other|
|||||AUocated|Costs|
||Administration
fees|||f.|8
~(80'!a)|
||Support costs are allocated on the basis Ofabest estimate oftime spent in respect ofthe activity cost category.|||||
|3.|COSTS OF RAISING||FUNDS|||
|||||5/4/21|5/4/20|
||Investment
property|costs||||
||Insurance|||384|395|
||Repairs to property|||517|898|
||Managing
agems
connniss ion|||1,538|1,532|
||Letting fees||||dao|
|||||2,439|3,485|
||htvestment
management||fees|8 193|8 799|
||||||J?dent|
|4.|CHARITABLE ACTIVITIES|||||
|||||5/4/21|5/4/20|
||||||8|
||Grants to beneffciaries
Adminietnuion
fees (note 2)|||38,750
~4|38,100
4ea|
##
##
||||5/4/21|5/4/20|
|---|---|---|---|---|
||||f||
|Accountancy|||1,068|1,044|
|Independent|examiner's|fee|720|'708|
|Adm'nistration|fees (note 2)||2,160|1,872|
|Sundry expenses|||35||
||||ASQ||
##
|||||||||Absolute|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||Government||Corporate||Return|||
|||||Bonds|||Bonds|Funds|Equities|Totals|
|||||||||||f,|
|VALUATION|||||||||||
|At6
April 2020||||164,871||267463||163,778|421,740|1,017,652|
|Additions|at cost||||||45,597|18,109|20i,592|265,298|
|Disposals
at market value
Net gains/Uosses)
on listed investment||||'(53,732)
~2738||(55,775)
~7705||15784|(140,639)|(250,&46)|
|At 5
April 2021|||||||||||
|NET BOOKVALUE|||||||||||
|At 5
April 2021|||||||||||
|At 5
April 2020|||||||||||
|Listed Investments||comprise the following:|||||||||
||||||||||5/4/21|5/4/20|
||||||||||f||
|Government
Bonds|||||||||||
|f50,000||2.00%Treasury slack||2025|||||53,898|55,238|
|f50,000
f50,000||2.25%Treasury stock
2.75%Treasury stock||2023
2024|||||~0|53,733
55 900|
||||||||||108401|164871|
|Corporate|Bonds||||||||||
|62,021.85||FIL UK Money Builder Income|||||||63,076|60,378|
|49,353.79||Jupiter Strategic Bond||Income|||||49/04|48,113|
|4'0,000||Maitland Select Bond|||||||44,026||
|4,500||Pimco Select UKIncome Bond|||||||4o,440|43,110|
|500||Twentyfour
Asset Management|||corporate||Bond income||51,505|49,290|
|f25,000
f10,000||4.75%A2D Funding
4.75%London Stock|pic 18/10/2022
Exchange 2/11/2021||||||10,439|26,968
10,597|
|f25,000||5.75%HSBC Holdings||pic 20/12/2027||||||28 807|
||||||||||264 790|267263|
##
##
##
|INVESTMENTS|- LISTEDINVESTMENTS —continued||||
|---|---|---|---|---|
||||5/4/21|5/4/20|
|Absolute Return|Funds||||
|27,0DO|Artemis Global High Yield Bond||86,009|22,6811|
|40,000|Henderson
UK Absolute
Return||42,840|40,680|
|60.000|Ninety One Diversified income (formerly lnvestec)||60,738|54,834|
|475|Muzinich
Global Tactical Credit Fund|Hedged|49,984|45,576|
|40|Personal Assets Trust pic f12.50 ord||18 100||
||||12LGl|163778|
|Equities|||||
|5,00D|Aberdeen
Asian Income Fund Ltd NPV ord||11,350|7,925|
|250/500|Ashtead
Group plr, 10p Ord||11,163|8,028|
|7,000|Aviva US Equity income|||8,969|
|16,000|Blackrack Continental
Eumpean||27,920|21,120|
|10,000|Blackrock ishares Global Property|||13,690|
|29,318.297|BNY Mellon Fund Managers
Newton|Asian Income|34/20|'20,450|
|2,5DO|BPpic US$025 ord||7345|6,433|
|400|British American
Tobacco pic 25p ord|||11,760|
|1350|British Land Co.pic 25p ord|||3,931',|
|1.,400|Coupland
Cardiff Japan Income et, Growth|||17,766|
|500|Diageo pk 28 101/108p ord||15,035|12,290|
|500|Experian US $0.10ord||12,730||
|10,500|Fide(ity Quality Income||6],031||
|7,000|First Sentier Global Listed in&ustructure
(formerly First State)||14,617|12,815|
|1,250|GlaxoSmithKline
pic 25p ard||15,970|18,616|
|1,750/1,000|Hiscox Lid6.5p ord||15,166|8.404|
|2,000|HSBC Holdings pic US$0,50 ord|||7,944|
|475|lnduex Euro 0.03||I1,441|9,162|
|10,000|JPMorgau Global Emergiug Markets Income Trust pic lp ord||14,500|9,400|
|28,935361|JPMorgan US Equity income||37,500|28,038|
|(ADD
350|Jupiter Japan Income
Kone Oyj Corporation
NPV 'B' ord||20,593
20,693||
|5,DDD
5,000|Lmv Debenture
Corporation pic 5p ord
Legal dt General Group pic 2' ord||14,175|22,500
7,965|
|15,000|Lloyds Banking Group pic 10p ord|||4, 159|
|20,000|Maitland North Anierican
Equity||36,874||
|10,000/15,000|Mercantile investment
Trust pic 25p ord||25,600|24,030|
|2,000|Merian US Equity Income|||22,612|
|200|Novartis AG CHF 0.50||12,450|13,627|
|650|Prudential
pic 5p ord||10,084|5,981'|
|650|RELXpic 14/1 16p ord||11,926|10/62|
|4DO|Rio Tiara pic 10p ord|||15,044'|
|1200|RIT Capital Partners pic 8I ord||28,740|18,S88|
|1,000|Rayal Dutch Shall pic Euro 0,07ord||13/54|14,1S4'|
|15,000|Schrader Asian Income||12,008||
|20,000|Schroder Global Cities Real Estate||12,302||
|12,200/4,000|TRProperty Investment
Trust pic 25p|ord|48,190|12,580;|
|500|Unilever pla 3 I/9p ord||20 110|20 185.|
|||||521 740|
|Total|||||
|The histaric coat oflisted investments
on 5"April 2021 was $1,040,038(2020-$1,038,578).|||||
|INVESTMENTS|- CASH DEPOSITS||||
||||5/4/21f|5/4/20|
##
|||||||Total|
|---|---|---|---|---|---|---|
|COST OR VALUATION|||||||
|At6|April2020|||||260,000|
|Revaluations|||||||
|At 5|April 2021||||||
|NET|BOOK VALVE||||||
|At5|April2021||||||
|At 5'|April 2020||||||
|Cost|or valuation|at5|April 2021 ls represented. by:|||f|
|Valuation||||||50230|
|Cost||||||200 770|
|Ifinvestment
property|||had not been revalued|it would have been mcludad|at the following historical|cost|
||||||5/4/21|5/4/20,|
|||||||f|
##
|10.|DEBTORS:AMOUNTS FALLING
DVK WITHIN ONK YEAR|||||
|---|---|---|---|---|---|
|||||5/4/21|5/4/20|
||Accrued income|||104|69|
||Pre payin ants|||254|2K|
|||||358||
|11.|CREDITORS: AMOUNTS FALLING|||||
||DUK WITHIN ONK YEAR|||||
|||||5/4/21|5/4/20|
||Accrued expenses|||||
|12.|CAPITAL COMMITMENTS|||||
||The Charity had no capital commitments|at 5|April 2021 (2020 - Nil).|||
##
##
##
##