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|Charity Name:|Charity Name:|The Fraucis Bernard Cauut Lducation Trust.|
|---|---|---|
|Governing|Document:|Trust deed dated 7a February 2005.|
|Registered|Charity Number:|11'08858|
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|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.||||||||||||
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|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|||||||||
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|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||||||
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||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|
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||||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|
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|||||||||||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|
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|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||||
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|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||
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