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|REPORT OF THE TRUSTEES|||
|REPORT OF THE INDEPENDENT|EXAMINER||
|STATEMENT OF FINANCIAL ACTIVITIES|||
|BALANCE SHEET|||
|NOTES TO THE FINANCIAL STATEMENTS||8-11|
|2020 STATEMENT OF FINANCIAL|ACTIVITIES|12|
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||||INCOME|INCOME|FUND|EXPENDABLE||TOTAL|TOTAL|
|---|---|---|---|---|---|---|---|---|---|
|||||(unrestricted)||ENDOWMENT||2021|2020|
|||Notes||f.||||f.|F|
|INCOME AND EXPENDITURE|||||||||(page 12)|
|Income and Endowments||from||||||||
|Investment
income||||78,769||||78,769|65,055|
|Other income|||||148|||148|63|
|Total Income||||78,917||||78,917|65,118|
|EXPENDITURE ON||||||||||
|Raising Funds||||||||||
|Investment
management|fees|||||19,764||19,764|17,767|
|Charitable
Activities||||||||||
|Grants||||48,000||||48,000|30,200|
|Support costs||||23,060||||23,060|24,854|
|Total Expenditure||||71,060||19,764||90,824|72,821|
|NET INCOME/(EXPENDITURE)|||||7,857|(19,764)||(11,907)|(7,703)|
|Other recognised
gains/(losses)||||||||||
|Foreign currency (loss)
Gains/(losses)
on investments:||||||(457)||(457)|(230)|
|-realised||||||25,243||25,243|(23,749)|
|-unrealised||||||308,295||308,295|138,270|
|||||||333,081||333,081|114,291|
|Net Movement
in Funds|||||7,857|313,317||321,174|106,588|
|Reconciliation
of Funds||||||||||
|Fund Balances brought|forward|||19,571||5,786,712||5,806,283|5,699,695|
|TOTAL FUNDS CARRIED||FORWARD AT||||||||
|31 DECEMBER 2021|||F|27,428||E6,100,029|f.|6,127,457|E5,806,283|
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|||Notes||2021|||2020|
|---|---|---|---|---|---|---|---|
|Fixed Assets||||||||
|Investments|||||3,409,100||3,076,542|
|Freehold
properties|||||2,603,000||2,603,000|
|Chattels|||||50,817||50,817|
||||||6,062,917||5,730,359|
|Current Assets||||||||
|-BDP Pitmans|LLP - Client Account||313|||1,622||
|- Metro Bank account|||400|||600||
|- Investec Accounts|||73,778|||75,402||
|Total Current Assets|||74,490|||77,624||
|Less: Creditors||||||||
|Amounts
falling|due within one year|||||||
|Accruals|||9,950|||1,700||
|Grants committed||||||||
||||9,950|||1,700||
|Net current assets|||||64,540||75,924|
|Net Assets||||F|6,127,457||E 5,806,283|
|Funds ofthe Charity||||||||
|Capital Funds||||||||
|Expendable
Endowment|||||6,100,029||5,786,712|
|Income Funds||||||||
|Income Fund (unrestricted)|||||27,428||19,571|
|Total Funds||||F|6,127,457||E 5,806,283|
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||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||f.||
||Income from|overseas|||holdings||||||26,222|24,664|
||Income from|UK investments|||||||||||
||-fixed|interest|||||||||5,097|4,000|
||- equities||and unit|||trusts|||||42,741|32,597|
||- property||||||||||4,709|3,794|
||||||||||||F78,769|E65,055|
|3.|Other Income||||||||||2021|2020|
||||||||||||f.||
||Investec - deposit|||interest|||||||143|63|
||Orion Publishing||royalties||||||||5||
||||||||||||148||
|4.|Expenditure||||||||||||
||Raising funds||||||||||||
||Investec investment|||management|||and safe custody fees||||19,764|17,767|
|||||||||||F|19,764|E 17,767|
|5.|Charitable
Activities||||||||||||
||||||||Income|Fund|Expendable||Total|Total|
||||||||(unrestricted)||Endowment||2021|2020|
||||||||F||||E|E|
||Grants committed|||*|||48,000||||48,000|30,200|
||Support and governance||||costs||||||||
||BDBPitmans|LLPfees|||||21,750||||21,750|23,154|
||Independent|Examination||||fee||1,310|||1,310|1,700|
||||||||23,060||||23,060|24,854|
||||||||F71,060||||F71,060|F55,054|
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|6.Investments|6.Investments||||||||
|---|---|---|---|---|---|---|---|---|
|Movements
on quoted
investments||were||as follows:||2021||2020|
|||||||E||E|
|Market value at 1 January 2021||||||3,076,542|2,945,830||
|Add: acquisitions
at cost||||||259,964||321,236|
|Less:
realised gain/(loss)|||||25,243||||
|proceeds||||(260,944)||(235,701)||(328,794)|
|Net gain/(loss)
on revaluation|at 31|December 2021||||308,295||138,270|
|Market value at 31 December|2021||||F|3,409,100|E3,076,542||
|Historical cost as at 31 December 2021|||||F|2,155,178|22,036,880||
|All investments
are listed on|a recognised|||stock exchange.|The following|investment|accounted|for more|
|than 5%ofthe portfolio by value.|||||||||
|Findlay Park Funds|American||USD Dis|||8.66%||7.03%|
|7.Freehold Properties
and|Chattels||||||||
|||||2021|2020|
|---|---|---|---|---|---|
||||||E|
|Main|House, gardens
and outbuildings|||1,600,000|1,600,000|
|Land|(22.39acres)|||110,000|110,000|
|The|Coach House (subject to Robertson|tenancy)||475,000|475,000|
|The|Coach House (subject to KJohnson|lease)||90,000|90,000|
|The|Old Lodge|||140,000|140,000|
|The|New Lodge (subject to Lee tenancy)|||188,000|188,000|
|Total|value of properties||F|2,603,000|F2,603,000|
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|8.Analysis of Net Assets Between Fund|8.Analysis of Net Assets Between Fund|8.Analysis of Net Assets Between Fund|s|||||||
|---|---|---|---|---|---|---|---|---|---|
|Fund balances at 31 December 2021 are|||||Income Fund||Expendable||Total Funds|
|represented
by:|||||(unrestricted)||Endowment|||
||||||F||||F|
|Fixed Assets|||||||6,062,917||6,062,917|
|Current Assets|||||37,378||37,112||74,490|
|Creditors|||||(9,950)||||(9,950)|
|Net Assets|||||27,428|F|6,100,029|F|6,127,457|
|The summary
of|net assets between|funds|for 31||Income Fund||Expendable|Total Funds||
|December 2020|was as follows:||||(unrestricted)||Endowment|||
||||||F||F|||
|Fixed Assets|||||||5,730,359||5,730,359|
|Current Assets|||||21,271||56,353||77,624|
|Creditors|||||(1,700)||||(1,700)|
|Net Assets|||||19,571|F|5,786,712|F|5,806,283|
|9.Summary of Fund Movements||||||||||
||||2021||2021||2020||2020|
|||Income Fund|||Expendable|Income Fund||Expendable||
|||(unrestricted)|||Endowment|(unrestricted)||Endowment||
||||||F||F||F|
|Balance brought|forward||19,571||5,786,712||9,507||5,690,188|
|Income|||78,917||||65,118|||
|Expenditure|||(71,060)||(19,764)||(55,054)||(17,767)|
|Other recognised|gains/(losses)||||333,081||||114,291|
|Balance carried forward||E|27,428|F|6,100,029|F|19,571|F|5,786,712|
|Total funds|||2021 -|F|6,127,457||2020 -|E|5,806,283|
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|||||INCOME FUND|INCOME FUND||EXPENDABLE||TOTAL|
|---|---|---|---|---|---|---|---|---|---|
||||||(unrestricted)||ENDOWMENT||2020|
||||Notes|||||||
|INCOME AND EXPENDITURE||||||||||
|Income and Endowments||from||||||||
|Investment
income|||||65,055||||65,055|
|Other income|||||63||||63|
|Totallncome|||||65,118||||65,118|
|EXPENDITURE ON||||||||||
|Raising Funds||||||||||
|Investment
management|fees||||||17,767||17,767|
|Charitable
Activities||||||||||
|Grants|||||30,200||||30,200|
|Support costs|||||24,854||||24,854|
|Total Expenditure|||||55,054||17,767||72,821|
|NET INCOME/EXPENDITURE|||||10,064||(17,767)||(7,703)|
|Other recognised
gains/losses||||||||||
|Foreign currency (loss)|||||||(230)||(230)|
|Gains/(losses)
on investments:||||||||||
|-realised|||||||(23,749)||(23,749)|
|-unrealised|||||||138,270||138,270|
||||||||114,291||114,291|
|Net Movement
in Funds|||||10,064||96,524||106,588|
|Reconciliation
of Funds||||||||||
|Fund Balances brought|forward||||9,507||5,690,188||5,699,695|
|TOTAL FUNDS CARRIED||FORWARD|AT|||||||
|31 DECEMBER 2020||||f|19,571|F|5,786,712|E|5,806,283|