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2021-04-05-accounts

Trustees MMCFTrusteeLimited
Charitynumber 1140648
Principaladdress AlexandraHouse
StJohnsStreet
Salisbury
Wiltshire
SP12SB
Independentexaminer JamesFletcherFCA
Fletcher~ Partners
CrownChambers
BridgeStreet
Salisbury
SP12LZ
Solicitors WilsonsSolicitorsLLP
AlexandraHouse
StJohnsStreet
Salisbury
Wiltshire
SP12SB
Investmentadvisors QuitterCheviotInvestmentManagement
90LongAcre
London
WC2E9RA
SAGAS.A.
13rueCeard
CasePostale3638
CH-1211Geneva3
Switzerland
JuliusBaer&CoLtd
LefebvreCourt,LefebvreStreet
StPeterPort
Guernsey
ChannelIslands
GY14BS

Page
Trustee'sreport 1 -3
Statementoftrustee'sresponsibilities
Independentexaminer'sreport
Statementoffinancialactivities
Balancesheet 7
Notestotheaccounts 8 -13

FORTHEYEARENDED5APRIL2021
2021 2020
Notes £ £
Incomefrom:
Investments 2 149,201.38 186,423.03
Expenditureon:
Raisingfunds 3 (107,347.01) (92,414.28)
Charitableactivities 4 (460.747.331 (298.407.691
Totalexpenditure
Netgains/(losses)oninvestments 7 2.968.171.71 (388.866.491
Netmovementinfunds
Fundbalancesat6April2020 11,528,970.9912,122,236.42
Fundbalancesat5April2021 wi
n-se~~n~iA Acannonnn

2021 2021 2020 2020
Notes E £ £
£
Fixedassets
Investments 11 14,103,883.67 11,531,490.28
Currentassets
Debtors 9 3,247.46 6,110.12
Cashatbankandinhand 79,480.52 62,459.49
82,727.98 68,569.61
Creditors:amountsfallingduewithin 10
oneyear (108,361.91) (71,088.90)
Netcurrentliabilities (25,633.93) (2,519.29)
Totalassetslesscurrentliabilities 14,078,249.74 11,528,970.99
Unrestrictedfunds 14,078,249.74 11,528,970.99
14,078,249.74 11,528,970.99

2021 2020
E E
Incomefromlistedinvestments 147,287.08 181,305.23
Interestreceivable 41.78 382.62
Accruedincome 1.872.52 4.735.18
~cs~~~y~ct:~r:ixr~~~F~
3 Raisingfunds
2021 2020
E E
Investmentmanagement 107,347.01 92,414.28
107.347.01 92.414.28

4 Charitableactivities
2021 2020
E £
Grantfundingofactivities(seenote5) 406,241.76 256,003.00
Shareofgovernancecosts(seenoteb) 54,505.57 42,404.69
5 Grantspayable
2021 2020
E E
Grantstoinstitutions: 286,000.00 197,500.00
Grantstoindividuals: 120.241.76 58.503.00
6 Supportcosts
2021 2020
£ £
IndependentExaminationsfees 2,400.00 2,400.00
TrusteeExpenses 95.92 6,686.76
Legalfees 50,664.60 32,340.00
Sundrydisbursements 948.00 467.52
Bankcharges 30.05 17.84
Federalstamp - 125.57
LegalfeesreTrustCompany 367.00 367.00
54,505.57 42,404.69

7 Unrealisedandrealisedgains/(losses) 2021 2020
E E
Realisedgainsonsatesofinvestments 468,498.04 360,537.20
Revaluationofinvestments 2.499.673.67 (749.403.691
Netgains/(losses)oninvestments L,y6tS,7/7./7 (3tS~S,tS66.4y)
9 Debtors
2021 2020
Amountsfallingduewithinoneyear: £ £
Otherdebtors 3,247.46 6,110.12
10 Creditors:amountsfallingduewithinoneyear
2021 2020
£ £
Othercreditors 108,361.91 71,088.90

FixedAssetInvestments
2021 2020
Equities Bonds Other Cash £ E
Marketvalueat5 Apri12020 7,825,124.99 2,935,668.45 643,412.29 127,284.55 11,531,490.28 12,113,569.12
Acquisitionsinyear 1,571,412.62 1,402,508.72 178,873.59 3,152,794.93 2,372,931.36
Disposalsinyearatcarryingvalue (1,870,653.20)
(1,581,260.65)

(105,570.47)
(3,557,484.32) (2,432,598.17)
Unrealisedgains/(losses)onrevaluation 2,199,254.27 129,075.01 353,134.22 2,681,463.50 (502,070.69)
Increase/(decrease)ininvestmentcash 295,619.28 295,619.28 (20,341.34)
Marketvalueat5 Apri12021 9,725,138.68 2,885,991.53 1,069,849.63 422,903.83 14,103,883.67 11,531,490.28
Listedonrecognisedstockexchanges 13,680,979.84 11,404,205.73
Cash 422,903.83 127,284.55
14,103,883.67 11,531,490.28
Equities Bonds Other £ E
Historicalcostat5 Apri12021 5,597,544.55 2,772,512.00 1,011,177.34 9,381,233.89 £9,603,848.03