2021-04-05-accounts

3rd February

	Note	2021	2020
IncomeandExpenditure
Incomefrom:
Investments	2	51,448.37	4,937.19
InterestReceivable	2	-	52.43
		51,448.37	4,989.62
Expenditureon:
RaisingFunds
InvestmentManagementFees		10,507.19
Charitableactivities
Donations	9	455,553.94	665,803.20
Fundingcommitments	10	1,792,268.01
OtherExpenditure
MacfarlanesFees		18,600.00	13,816.55
AccountancyFees		5,100.00	-
ConsultancyFeesandExpenses
SASM.G.I.I.		-	13,853.13
CepedaFees		236.64	-
BankCharges		407.58	368.76
LEIRegistrationFee		-	78.00
TotalResourcesExpended		2,282,673.36	693,919.64
Realisedgains(losses)		90,819.82	64,679.53
Unrealisedgains(losses)		(414,861.56)	(331,131.59)
NetCurrencygains(losses)		(83,261.89)	113,117.58
Netgains(losses)oninvestments		(407,303.63)	(153,334.48)
Netmovementinfunds		(2,638,528.62)	(842,264.50)
Fundbalancesat6April2020		5,010,482.92	5,852,747.42
Fundbalancesat5April2021		£2,371,954.30	£5,010,482.92
Allfundsareunrestricted

	NOTESTOTHEFINANCIALSTATEMENTSFORT	HEyearto5April2021
2	IncomefromInvestments	2021	2020
	IncomefromOverseasSecurities	51,448.37	4,937.19
	InterestonCashDeposits		52.43
		51,448.37	4,989.62

5	Netgains/(losses)onInvestments	2021	2020
		£	£
	RevaluationofInvestments	(414,861.56)	(331,131.59)
	Gain/lossonSaleofInvestments	90,819.82	64,679.53
	Currency	(83,261.89)	113,117.58
		(407,303.63)	(153,334.48)
6	FixedAssetInvestments	2021	2020
		£	£
	UnlistedInvestments
	ListedInvestments	3,849,289.82	4,873,283.86
		3,849,289.82	4,873,283.86
	ListedInvestmentsincludedabove:
	OverseasSecurities	3,849,289.82	4,873,283.86

	MovementsinFixedAssetInvestments	2021	2020
		Shares	Shares
		£	£
	CostorValuation
	At5April2020	4,873,283.86	5,843,106.23
	Additions	4,792,999.00	5,796,399.37
	ValuationChanges	(414,861.56)	(331,131.59)
	Disposals	(5,402,131.48)	(6,435,090.15)
	At5April2021	3,849,289.82	4,873,283.86
	CarryingAmount
	At5April2021	3,849,289.82	4,873,283.86
7	FinancialInstruments
		2021	2020
		c	£
	CarryingAmountofFinancialAssets	3,849,289.82	4,873,283.86
	Equityinstrumentsmeasuredatfairvalue
	throughprofitorloss	3,849,289.82	4,873,283.86
	CarryingAmountofFinancialLiabilities
	Measuredatamortisedcost	1,512,264.81	12,104.40
	FinancialLiabilities:breakdown
	Amountsfallingduewithinoneyear:
	AccountancyFees	5,100.00	7,200.00
	ConsultancyFees		4,904.40
	MacfarlanesFees	2,400.00
	Fundingcommitments	447,176.46
		454,676.46	12,104.40
	Fundingcommitmentsdueafteroneyear	1,057,588.35
		1,512,264.81	12,104.40
8	Cashatbankandinhand
		2021	2020
		£	£
	Macfarlanes	3,108.49	6,508.49
	ItauPrivateBank:
	US$CurrentAccount($44,241.64)	31,820.80	142,794.97
		34,929.29	149,303.46

CharitableDonationsmadebyTheTrust
	2021		2020
	£		£
JohnsHopkinsUniversity			158,548.00
InstituteABCD	395,344.64		297,888.12
Prosaber	40,300.13		30,077.30
SPDMAssociacaoPaulistaParaDesen	19,909.17		30,549.40
Y-Mind			148,740.38
	£455,553.94	£	665,803.20

OverseasSecurityInterest
	Holding	Date	Gross	Tax	Net
BancoBradesco(Grand
CaymanBranch)5.75%
1.3.2022	200,000.00	01/09/20	4,292.12		4,292.12
		01/03/21	4,124.16		4,124.16
BancodoBrasil(Grand
CaymanBranch)5.875%
26.01.22	200,000.00	26/07/20	4,592.89		4,592.89
		26/01/21	4,280.08		4,280.08
CitigroupInc4.5%14/01/2022	189,000.00	14/07/20	3,390.05		3,390.05
		14/01/21	3,107.79		3,107.79
GoldmanSachs5.25%
27.07.21	190,000.00	27/07/20	3,873.62		3,873.62
		27/01/21	3,640.90		3,640.90
ItauUnibanco6.2%21.12.21	200,000.00	21/12/20	4,644.39		4,644.39
MorganStanley4.1%22.05.23	183,000.00	22/11/20	2,823.68		2,823.68
Naturacosmeticos5.375%
01.02.23	200,000.00	01/08/20	4,107.64		4,107.64
		01/02/21	3,929.10		3,929.10
Petrobas6.125%17.01.22	191,000.00	17/07/20	4,641.95		4,641.95
			51,448.37		51,448.37

2)	Investmentsheldat5	Investmentsheldat5	April2020		Investmentsheldat5April2021	Investmentsheldat5April2021	Investmentsheldat5April2021
						Costor
	Holding	Cost	Market	Holding	Cost	2020	Market	Unrealised
			Value			Adjusted	Value	gains/(losses)
						Value
AmundiFunds
SICAVCash
USD				5889.81	510,655.45	510,655.45	463,149.00	(47,506.45)
Banco
Bradesco
(Grand
Cayman
Branch)5.75%
1.3.2022				200,000	171,029.03	171,029.03	149,982.40	(21,046.63)
Bancodo
Brasil(Grand
Cayman
Branch)
5.875%
26.01.22				200,000	170,806.15	170,806.15	150,461.40	(20,344.75)
CitigroupInc
4.5%
14/01/2022				189,000	163,844.50	163,844.50	141,716.31	(22,128.19)
Goldman
Sachs5.25%
27.07.21				190,000	163,805.82	163,805.82	140,013.36	(23,792.46)
'tauAAAFund
Moderate
Class4	51,119.365	5,204,415.45	4,873,283.86
RauBBA
International
Plc				1,209,000	915,843.13	915,843.13	867,346.88	(48,496.25)
ItauUnibanco
6.2%21.12.21				200,000	168,468.26	168,468.26	149,303.51	(19,164.75)
JPMorgan
LiquiditySICAV
USDFundA				78.77	874,247.41	874,247.41	790,883.44	(83,363.97)
MFSMeridian
FundsSICAV
USGovtBond
FundAl				36,307.054	560,505.55	560,505.55	489,634.66	(70,870.89)
Morgan
Stanley4.1%
22.05.23				183,000	160,467.46	160,467.46	142,851.12	(17,616.34)
Natura
Cosmeticos
5.375%
01.02.23				200,000	166,236.79	166,236.79	149,460.95	(16,775.84)
Nordea1
SICAVUS
CORPBOND
FUNDBP				17,910.448	238,241.83	238,241.83	214,486.79	(23,755.04)
		£5,204,415.45	£4,873,283.86		£4,264,151.38	£4,264,151.38	£3,849,289.82	(£414,861.56)

Acquisitions
	Holding	Date	Cost/Book	Event
			Value
			£
AmundiFunds
SICAVCash
USD	10,083.417	08/07/20	874,247.38	Purchase
Banco
Bradesco
(Grand
Cayman
Branch)5.75%
1.3.2022	200,000	07/07/20	171,029.03	Purchase
Bancodo
Brasil(Grand
Cayman
Branch)
5.875%
26.01.22	200,000	07/07/20	170,806.15	Purchase
CitigroupInc
4.5%
14/01/2022	189,000	07/07/20	163,844.50	Purchase
Goldman
Sachs5.25%
27.07.21	190,000	07/07/20	163,805.82	Purchase
ItauBBA
International
Plc	1,209,000	31/07/20	915,843.13	Purchase
RauUnibanco
6.2%21.12.21	200,000	07/07/20	168,468.26	Purchase
JPMorgan
Liquidity
SICAVUSD
FundA	78.766	08/07/20	874,247.41	Purchase
MFSMeridian
FundsSICAV
USGovtBond
FundAl	36,307.054	08/07/20	560,505.55	Purchase

Morgan
Stanley4.1%
22.05.23	183,000	07/07/20		160,467.46	Purchase
Natura
Cosmeticos
5.375%
01.02.23	200,000	07/07/20		166,236.79	Purchase
Nordea1
SICAVUS
CORPBOND
FUNDBP	17,910.448	09/07/20		238,241.83	Purchase
Petrobas
6.125%
17.01:22	191,000	07/07/20		165,255.69	Purchase
				4,792,999.00
Disposals
	Holding	Date	MarketValue	Proceeds	Profit/(Loss)	Event
			£	£	£
AmundiFunds
SICAVCash
USD	1,449.116	12/08/20	125,640.53	121,284.74	(4,355.79)	Sale
	2,744.49	11/02/21	237,951.40	217,124.99	(20,826.41)	Sale
ItauAAAFund
Moderate
Class4	51,119.365	17/04/20	4,873,283.86	4,992,908.94	119,625.08	Sale
Petrobras
6.125%
17.01.22	191,000	21/09/20	165,255.69	161,632.63	(3,623.06)	Sale
Totals			£5,402,131.48	£5,492,951.30	£90,819.82