| Charity Name: | Charity Name: | The Fraucis Bernard Cauut Lducation Trust. |
|---|---|---|
| Governing | Document: | Trust deed dated 7a February 2005. |
| Registered | Charity Number: | 11'08858 |
| atthe date o | fthis report:- | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RP Fisher | ||||||||||||||
| A Hudson | ||||||||||||||
| HN Newsum | ||||||||||||||
| Mrs IPerl | by | |||||||||||||
| MRPurser | - resigned | 7e April 2022 | ||||||||||||
| CRussia | ||||||||||||||
| Mrs DKRyan | ||||||||||||||
| Principal Address; | 10Lombard | Street, Newark, | Nottinghamshire, | NG24 | IXE. | |||||||||
| Independent | Examiner: | Adriau Heigh FCA, |
Stephensou | Nuttall | & Co., | Chartered | Accountants, | Ossington | ||||||
| Chambers, | 6/8 Castle | Oats, | Newark, | Nottiughamsbire, | NO24 | 1 | AX. | |||||||
| Pnvestment | Maaagers: | Brewiu Dolphin Ltd., | 1"Boor, Waterfront | HOuse, Waterfront | Plaza, 35 Station | Street, | ||||||||
| Nottingharn, | NG2 3DQ. | |||||||||||||
| Bankers: | National Westminster | Bank | pic.,I Market | Place, Newark, Nottinghamshire, | NG24 | IDY. | ||||||||
| Specific Restrictions: | None. | |||||||||||||
| Investment | Powers.' | By authority | ofthe Trust deed. |
| for the Year Ended 5 A | ril 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Total | Total | |||||||
| Unrestricted | Endowment | Funds | Funds | |||||
| Funds | Funds | Year Ended | Year Ended | |||||
| 5/4/22 | 5/4/22 | 5/4/22 | 5/4/21 | |||||
| Notes | 8 | |||||||
| INCOME | ||||||||
| Donations | 1,083 | 1,083 | 985 | |||||
| Investment Income |
||||||||
| Dividends - Equities | 14,423 | 332 | 14,755 | 18,171 | ||||
| Dividends - Absolute return |
funds | 5377 | 5377 | 5,021 | ||||
| Interest —UK govtsnment bonds |
2,825 | |||||||
| Interest - Corporate bonds | 9,966 | 9,966 | 8,131 | |||||
| Interest ou cash deposits | 13 | 13 | 56 | |||||
| Rental income | ~12 04 | LZ 820 | ||||||
| TOTAL INCOME | 42 966 | ~33 | ~400 | |||||
| EXPENDITURE | ||||||||
| Costs ofraising funds | 5,602 | 8,456 | 14,'058 | 10,632 | ||||
| Charitable activities |
26,350 | 26,350 | 39,290 | |||||
| Other costs | 4 313 | |||||||
| TOTAL EXPENDITURE | 3~665 | 44 '121 | ~53 905 | |||||
| NET INCOME/(EXPENDITURE) | BEFORE | |||||||
| GAINS/(LOSSES) ON INVESTMENTS | 6,701 | (8,124) | (1,423) | (5,896) | ||||
| GAINS/(LOSSKS) ON INVESTMENT ASSETS | ||||||||
| Investments Gains/(Losses) |
-Realised | 8,384 | S,384 | 36,182 | ||||
| Investments Gains/(Losses) |
-Unrealised | 7 | 4,573 | 4,573 | 115,187 | |||
| Invesiment Property Gains/(Losses) |
-Unreaiised | 9 | 20dKQ | 2~0 | ||||
| TOTAL GAINS/(LOSSES) | ON INVESTMENT ASSETS | ~32 | 57 | |||||
| NET INCOME/(EXPENDITURE) | 6,701 | 24~3 | 31,534 | 145,473 | ||||
| TRANSFERS BETWEEN | FUNDS | |||||||
| NKT MOVEMENT IN FUNDS | 61701 | 24,833 | 31,534 | 145,473 | ||||
| RECONCILIATION OFFUNDS |
||||||||
| Total funds brought forward | ~115 5 7 | ~1443 | 34 | ~158831 | 1413358 | |||
| TOTAL FUNDS CARRIED FORWARD |
| 2IACAECE EEEET ~E"A 22222 |
|||||
|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| 5/4/22 | 5/4/22 | 5/4/22 | 5/4/21 | ||
| Nates | 5 | 5 | |||
| FIXEDASSETS | |||||
| Investments -Listed investments |
1,141,146 | 1,141,146 | 1,147,991 | ||
| Invesnnents -Cash deposits Investment property |
49,006 ~280 000 1,470,152 |
49,006 2ii2i 1,470,152 |
37377 2KOK2I 1,445,368 |
||
| CURRENT ASSETS | |||||
| Debtors | 10 | 1,402 | 1,401 | 358 | |
| Cash at bank | 125775 | ~125775 | 119730 | ||
| 127,176 | 127,176 | 120,088 | |||
| LIABILITIES Creditors: Amounts faRing due withut one year |
~4878 | ~2085 | ~6) | ~66 | |
| NKT CURRENT ASSETS | ~122 29 | ~08 | ~1 | ~113 | |
| TOTAL NET ASSETS | |||||
| FUNDS OFTHE CHARITY | 14 | ||||
| UNRKSTMCTKD FUNDS | |||||
| General Reserve | 122,298 | 122,298 | 115,597 | ||
| RESTRICTKD FUNDS Expendable Endowment Funds |
~146 | 1468067 | ~14 | ||
| TOTAL CHARITY FUNDS |
| The breakdown ofsupport costs and how these were allocated between the table below. |
Charitable Activities and |
Governance is shown on |
|
|---|---|---|---|
| Totstl | Charitable | Other | |
| Administration fees Allocated |
Activilties 600(20%) |
Costs~(80%) | |
| Support casts are a))coated on the basis ofabest estimate oftime spent in respect ofthe activity cast ctuegoty. | |||
| 3. | COSTSOFRAISING FUNDS | ||
| 5/4/22 | 5/4/21 | ||
| Investment property costs |
|||
| Insurance | 358 | 384 | |
| Repairs to property | 3,120 | 517 | |
| Managing agents conunission |
1,464 | 1,538 | |
| Letdng fees | 660 5,602 |
2,439 | |
| Investment management fees |
~84 | 8 193 | |
| 4. | CHARITABLE ACTIVITIES | ||
| 5/4/22 | 5/4/21 | ||
| Grants to beneficiaries | 25,750 | 38,750 | |
| Adrninistradon fees (note 2) |
600 | 540 |
| 5/4/22 | 5/4/21 | |||
|---|---|---|---|---|
| f, | ||||
| Accountancy | 1,122 | 1,068 | ||
| Independent | examiner's | fee | 756 | 720 |
| Administration fees (note 2) Sundry expenses |
2,400 35 |
2,160 35 |
| Absolute | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Government | Corporate | Return | ||||||||||
| Bonds | Bonds | Funds | Equities | Totats | ||||||||
| E | E | |||||||||||
| VALUATION | ||||||||||||
| At 6a April, | 2021 | 108,401 | 264,790 | 197,671 | 577,129 | 1,147,991 | ||||||
| Additions at cost |
l38/66 | 19,578 | 96,497 | 254,341 | ||||||||
| Disp oasis atmarket value Net gains/(losses) on listed investments At 5e Apn12022 |
(108,401) | (10,439) ~2080 |
~3714 | (146,919) 31367 5R¹74 |
(265,759) | |||||||
| NET BOOKVALUE At5™ April 2022 |
||||||||||||
| At 5+April | 2021 | |||||||||||
| Listed Inv'estments | comprise the | foliowhtg: | ||||||||||
| 5/4/22 | 5/4/21 | |||||||||||
| E | ||||||||||||
| Government | Bonds | |||||||||||
| f,50,000 | 2.00'/o Treasury Stock | 2025 | 53,898 | |||||||||
| E50,000 | 2.75%Treasury stock | 2024 | ~5450 | |||||||||
| 1QSAE | ||||||||||||
| Corporate 62,021.85 40,000 |
Bonds | FIL UK Money Builder Henderson Fixed Interest |
Income | 58,412 22464 |
63,076 | |||||||
| 10,000 | ishares US | Treasury Inflation | - Protected | Security | 54,180 | |||||||
| 49353.79 | Jupiter Strategic Bond | Income | 46,501 | 49,304 | ||||||||
| 40,000 | Maitland SelectBond | 67,430 | 44,026 | |||||||||
| 4,500 | Pimco SelectUK Income Bond | 47,550 | 46,440 | |||||||||
| 250 | Robeco Global Credits | 25410 | ||||||||||
| 500 | Twentyfour | Asset Management | Corporate | Bond Income | 47,990 | 51,505 | ||||||
| E10„000 | 4.75%London Stock Exchange | 2/11/2021 | ~IO | |||||||||
| 264 790 |
| INVESTMENTS | - LISTED INVESTMENTS —continued | |||
|---|---|---|---|---|
| 5/4/22 | 5/4/21 | |||
| f | 8 | |||
| Absolute Return | Funds | |||
| 27,000 | Artemis Global High Yield Bond |
25,183 | 26,009 | |
| 40,000 | Henderson UK Absolute Return |
42,960 | 42,840 | |
| 60,000 | Ninety One Diversified Income |
57,822 | 60,738 | |
| 575/475 | Muzmich Global Tactical Credit Fund Hedged |
57,270 | 49,984 | |
| 60/40 | Personal Assets Trust pic 812.50ord |
~DDD 2~55 |
18 100 197671 |
|
| Equities | ||||
| 5,000 | Aberdeen Asian Income Fund Ltd NPV ord |
11,350 | ||
| 230 | Amphenal Corp US$0.001 |
13,033 | ||
| 250 | Ashtesd Group pic 10p ord | 11,730 | 11,183 | |
| 60 | Berkshire Hathaway Com US$0.0033 |
15,760 | ||
| 10,000/16,000 | Blacklock Contineutal European |
17,874 | 27,920 | |
| 20,000/29,318.297 | BNYMellon Fund Managers Newton Asian Income |
24316 | 34,320 | |
| 2,500 | BPpicUS$0.25 ord | 9,572 | 7,245 | |
| 150 | Croda International pic 10.609p ord |
12,042 | ||
| 315 | Fastenal Com US$0.01 | 14,230 | ||
| 5DO | Diageo pic 28 101/108p ord | 19,S98 | 15,035 | |
| SDO | Experian US $0.10ord | 14,785 | 12,730 | |
| 6,750/10,500 7,000 1+50 1,750 475 |
Fidelity US Quality Income First Sentier Global Listed Infrastructure GlaxoSmithKlme pic 25p ard Hiscox Ltd 6.5p ord Inditex Euro 0.03 |
46,187 16,780 21/98 17334 7,924 |
61,031 14,617 ]5/70 15,186 11,441 |
|
| 140 | Intercontinental Exchange Com US$0.01 |
13,918 | ||
| 10,000 28,935.361 18300 350 5,000 25,000/20,000 5,000/10, 000 200 |
JPMorgan Global Emerging Markets Income Trust pic lp ord JPMorgan US Equity Income Jupiter Japan Income Kana Oys Corporation NPV 'B' ord Legal /I General Group pic 2.5p ord Maitiand North Ainerican Equity Mercantile Investment Trust pic 25p ord Novartis AG CHF 0.50 |
13,500 19,640 13,663 13,635 48,948 11,DOO 13,469 |
14,500 37,500 20,593 20,693 14,175 36,874 25,600 12,450 |
|
| 650 650 |
Prudential pic Sp ord RELXpic 14/116p ord |
7,368 15,892 |
10,084 Ii,928 |
|
| 1,200 1,000 ]5,000 26,075.8 |
RIT Capital Partners ptc El ord Royal Dutch Shell ptc Euro 0.07 ord Schroder Asian Income Schroder Global Cities Real Estate |
12,045 14,446 |
28,740 13,3S4 12,008 12,302 |
|
| 90 | Texas Insmunents Com US$1.00 |
12,145 | ||
| 25 | Thermo Fisher Scientific Com US$1.00 | 11,125 | ||
| 12300 500 |
TRProperty Investment Trust pic 25p ord Unilever pic 3 I/9p ord |
57,035 1767 ~074 |
48,190 20 110 ~2 |
|
| Total | ||||
| The hiatarlc cost | oflisted investments on 5 April 2022 was f1,074,153 (2021 - f1,040,038k |
|||
| INVESTMENTS | —CASH DEPOSITS | |||
| 5/4/22 | 5/4/21 | |||
| Brewin Dolphin | Capital account |
| 19. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
||
|---|---|---|---|
| 5/4/22 | 5/4/21 | ||
| Accrued income, | 1,186 | 104 | |
| Prepayinents | ~21 Llll |
254 Z5 |
|
| 11. | CREDITORS: AMOUNTS FALLING | ||
| DUK WITHIN ONE YEAR | |||
| 5/4/22 | 5/4/21 | ||
| Accrued expanses | f~63 |