2022-04-05-accounts - The Schroder 1905 Trust

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Bankers		Schroder	& Co	Ltd	Ltd
		1London	Wall	Place
		London
		EC2Y SAU
Investment	Manager	Cazenove	Capital
		1London	Wall	Place
		London
		EC2Y SAU
Solicitors		Russell-Cooke		LLP
		2 Putney	Hill
		London
		SW15 6AB
Auditor		Sayer Vincent		LLP
		Invicta House
		108-114Golden			Lane
		london
		EC1YOTL

					2022	2021
					Total	Total
		Notes	Restricted	unrestricted	funds	funds
			E	E	E	E
Income and endowments	from:
Investments			141,335	352,189	493,524	467,309
Rental income				15,000	15,000	10,200
Total			141,335	367,189	508,524	477,509
Expenditure on:
Raising funds —investment	manager fees		4,376	10,889	15,265	13,912
Charitable activities
Grants payable		3/4	71,203	156,197	227,400	225,270
Costs in support ofgrant	making	3	3,358	8,367	11,725	7,086
Governance costs		3	2,618	16,712	19,330	14,676
Total			81,555	192,165	273,720	260,945
Net income before gains	and
losses on investments			59,780	175,024	234,804	216,564
Net gains on investments			157,514	358,403	515,917	2,195,600
Net income, being net movement
in funds			217,294	533,427	750,721	2,412,164
Fund balances bought forward			3,595,180	9,257,080	12,852,260	10,440,096
Fund balances carried forward			3,812,474	9,790,507	13,602,981	12,852,260

Balance	She	et as at 5 April 2022
			Notes	2022	2021
				6	6
Fixed assets
Tangible fixed assets				146,850	130,882
Investments				13,148,127	12,400,484
				13,294,977	12,531,366
Current assets
Debtors				126,365	115,561
Cash at bank	and in	hand		256,879	224,212
Total current	assets			383,244	339,773
Liabilities
Creditors: amounts		due within 1year		(75,240)	(18,879)
Net current	assets			308,004	320,894
Net assets				13,602,981	12,852,260
Funds			10
Restricted funds				3,812,474	3,593,611
Unrestricted	funds			9,790,507	9,258,649
Total funds				13,602,981	12,852,260

						Notes	2022	2021
							6	f
Cash flows from operating activities:
Net cash provided by/(used in) operating		activities				(a)	29,720	(17,012)
Cash flows from investing activities:
Dividends and interest from investments							250,641	236,938
Proceeds from sale ofinvestments							130,925	222,774
Purchase ofinvestments							(391,983)	(286,632)
Purchase offixed assets							(15,968)
Change in investment cash							29,332	(16,397)
Net cash provided by investing activities							2,947	156,683
Change in cash and cash equivalents	in the reporting		period				32,667	139,671
Cash and cash equivalents at the beginning		ofthe reporting		period		(b)	224,212	84,541
Cash and cash equivalents at the end	ofthe reporting		period			(b)	256,879	224,212
(a) Reconciliation ofnet income/(expenditure) to net			cash flows		from operating	activities
Net income for the reporting period							750,721	2,412,164
Adjustments for:
Gains on investments							(515,917)	(2,195,600)
Dividends and interest from investments							(250,641)	(236,938)
(Increase)/decrease in debtors							(10,804)	918
Increase in creditors							56,361	2,444
Net cash provided by/(used in) operating		activities					29,720	(17,012)
(b) Analysis ofcash and cash equivalents
Cash in hand							256,879	224,212
Total cash and cash equivalents							256,879	224,212
Analysis ofchanges in net debt				6	April 2021 6	Cash flows f	Non-cash 6	5Apdl 2022 6
Cash and cash equivalents					224,212	32,667		256,879

to the financ	to the financ	to the financ	ial	st	a	tem	ents	f	or th	e y	ea	r ende	d 5 April
Investment income
								Kaiser Wilhelm			8		OPH	2022		2021
							Restricted			Unrestricted			Restricted	Total		Tata I
									E			E	E	E		E
Bank interest												24	4	28		2
Dividends received			and foreign exchange								352,165		141,331	493,496	467,307
Tote I											352,189		141,335	493,524	467,309
Included within	investment				income		is E141,335(2021:E135,877) in respect of restricted income.
Charitable activities
												Cost
								Grants		in support of			Governance	2022		2021
								payable		grant	making		costs	Total		Total
									E			E	E	E		E
Kaiser Wilhelm 8 Fund
Grants payable (see			note 4)					156,400						156,400	150,270
Administration												8,367		8,367		5,060
Property insurance			and fire		alarm								1,305	1,305		1,209
Accountancy													1,128	1,128		500
Audit													5,395	5,395		5,142
Legalfees													3,504	3,504		2,785
Sundry costs													5,380	5,380		1,367
Old People's Home'
Grants payable (see			note 4)					71,000						71,000		75,000
Administration												3,358		3,358		2,026
Accountancy													453	453		500
Audit													2,165	2,165		2,058
Legal fees																1,115
Total								227,400			11,725		19,330	258,455	247,032
Included within * In accordance	charitable activities is E77,179 (2021:E80,699)relating with Charity Commission guidance, the Old People's												to restricted funds. l-iome, as the charity	with the	narrower	objects
accounts for its funds and				therefore			activities,		is restricted		within the financial statements.
Grants payable
								Kaiser Wilhelm			8		OPH	2022		2021
							Restricted			Unrestricted			Restricted	Total		Total
									E			E	E	E		E
German Seaman's		Mission									65,000			65,000		61,200
Council ofGerman		Church		Work					203		72,797			73,000		55,070
German Welfare	Council												71,000	71,000		75,000
The Congregation		at German				Christ
Church, London
Pastoral Assistant											15,900			15,900		14,000
St Martin's	Procession											2,500		2,500
Westminster Roman			Catholic			Diocese
Trustee German		Church		(St		Boniface)										20,000
Total									203		156,197		71,000	227,400	225,270

to the financia	l st	ate	me	nts		for th	e year end	ed	5 April	202	2
Tangible fixed assets											2022			2021
											E			E
Kaiser Wilhelm II Fund
Freehold property:
Cost											146,850			130,882
This relates to a detached house			purchased			on 28 February 1994at 16Advice Avenue,				Chafford Hundred,			Grays, Essex.
The property was initially purchased				as an	investment		asset and let at	a commercialrent.		The property		is	now provided
rent free to a charity,	effectively		the trustees have				made a grant 'in	lieu' of rent. This grant amounted					to E15,000 in
2022 (2021:E10,200)	and is	shown		as rental income			and as a grant payable		in the accounts.		The freehold			property is
held on behalf of the	managing		trustees		by the Custodian Trustee			of Withers Trust		Corporation Limited				(Company
Registration Number	3697358).		During the			year, improvements of E15,968 were made to					the property.			These have
been capita lised.
Investments											2022			2021
							KWII		OPH		Total			Total
							E		E		f			f
Market value bought forward							8,826,493	3,523,223		12,349,716				10,090,258
Cost ofacquisitions during the year							273,919		118,064		391,983			286,632
Proceeds from disposals in the year							(91,813)		(39,112)		(130,925)			(222,774)
Net cash invested							182,106		78,952		261,058			63,858
Net gain on revaluation	in the year						358,403		157,514		515,917			2,195,600
Market value of investments		carried		forward			9,367,002	3,759,689		13,126,691				12,349,716
Cash held as part of portfolio		investment					12,250		9,186		21,436			50,768
Total market value at	5April	2022					9,379,252	3,768,875		13,148,127				12,400,484
											2022			2021
							KWH		OPH		Total			Total
							E		E		f			E
Investments at market	value	comprise:
LIK quoted investments							9,367,002	3,759,689		13,126,691				12,349,716
Cash held in Investment Portfolio							12,250		9,186		21,436			50,768
Historic cost ofinvestments		at 5	April 2022				8,112,665	3,253,614		11,366,279				10,997,953

7.	Debtors							KWH		OPH	2022	2021
								6		6	6	6
	Other debtors:
	Accrued investment			income				90,150		36,215	126,365	115,561
								90,150		36,215	126,365	115,561
8.	Creditors: amounts		due within			1year		KWII 6		OPHf	2022 f	2021 f
	Accruals —audit, accountancy fees &administration						fees	12,766		5,976	18,742	15,286
	Accruals —maintenance				work			2,748			2,748
	Grant creditors							50,000			50,000
	Investment	manager		fees				2,675		1,075	3,750	3,593
								68,189		7,051	75,240	18,879
9.	Analysis of	net assets between				funds —2022		Kaiser Wilhelm	ii Fund		OPH
								Restricted		Genera I	Restricted	Total
								funds		funds	funds	funds
								6		6	6	6
	Fixed assets								146,850			146,850
	Investments								9,379,252		3,768,875	13,148,127
	Net current	assets							264,404		43,600	308,004
									9,790,506		3,812,475	13,602,891
	Analysis of net assets			between		funds —2021		Kaiser Wilhelm	II	Fund	OPH
								Restricted		General	Restricted	Total
								funds		funds	funds	funds
								f		5	6	6
	Fixed assets								130,882			130,882
	Investments								8,855,505		3,544,979	12,400,484
	Net current	assets						203	270,692		49,999	320,894
								203	9,257,079		3,594,978	12,852,260

Movement in funds —2022	Movement in funds —2022	At start	Incoming	Outgoing	Net	At the end
		ofyear	resources	resources	gains	ofyear
		E	E	E	E	E
Restricted funds
Kaiser Wilhelm II Fund		203		(203)
Old People's Home		3,594,977	141,335	(81,352)	157,514	3,812,474
Total restricted funds		3,595,180	141,335	(81,555)	157,514	3,812,474
Total unrestricted	funds	9,257,080	367,189	(192,165)	358,403	9,790,507
Total funds		12,852,260	508,524	(273,720)	515,917	13,602,891
Movement in funds —2021		At start	Incoming	Outgoing	Net	At the end
		ofyear	resources	resources	gains	ofyear
		E	E	E	E	E
Restricted funds
Kaiser Wilhelm II Fund		203				203
Old People's Home		2,890,372	135,878	(84,757)	653,485	3,594,978
Total restricted funds		2,890,575	135,878	(84,757)	653,485	3,595,181
Total unrestricted	funds	7,549,521	341,631	(176,188)	1,542,115	9,257,079
Total funds		10,440,096	477,509	(260,945)	2,195,600	12,852,260