| Page | |
|---|---|
| Legalandadministrativeinformation | 1 |
| Trustees'report | 2-4 |
| Independentexaminer'sreport | 5 |
| Statementoffinancialactivities | 6 |
| Statementoffinancialposition | 7 |
| Notestothefinancialstatements | 8-14 |
| Scheduleofinvestmentsandincome | 15-20 |
| Trustees | MrDavidWilliamEdmundSterry |
|---|---|
| MrsWendyAnnSterry | |
| MrJamesWilliamSterry | |
| MrsNicolaKateClatworthy | |
| Charitynumber | 1143953 |
| Independentexaminer | MrJamesHurrell |
| RathbonesTrustCompanyLimited | |
| 30GreshamStreet | |
| London | |
| EC2V7QN | |
| Accountants | RathbonesTrustCompanyLimited |
| 30GreshamStreet | |
| London | |
| EC2V7QN | |
| Investmentmanager | RathbonesInvestmentManagementLimited |
| 30GreshamStreet | |
| London | |
| EC2V7QN |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ |
£ | |
| Incomeandendowments | |||
| Investments | 3 | 105,022 | 76,359 |
| Otherincome | 4 | 471 | |
| Totalincome | 105,493 | 76,359 | |
| Expenditure | |||
| Raisingfunds | 5 | 16,960 | 16,737 |
| Charitableactivities | 6 | 97,361 | 121,773 |
| Totalresourcesexpended | 114,321 | 138,510 | |
| Netgains/(losses)oninvestments | 13 | 164,891 | (328,525) |
| Netmovementinfunds | 156,063 | (390,676) | |
| Fundbalancesat6April2023 | 3,549,210 | 3,939,886 | |
| Fundbalancesat5April2024 | 3,705,273 | 3,549,210 |
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixedassets | |||||
| Investments | 12 | 3,629,079 | 3,497,535 | ||
| Currentassets | |||||
| Debtors | 14 | 2,301 | |||
| Cashatbankandinhand | 82,450 | 59,952 | |||
| 84,751 | 59,952 | ||||
| Creditors:amountsfallingduewithin | |||||
| oneyear | 15 | (8,557) | (8,277) | ||
| Netcurrentassets | 76,194 | 51,675 | |||
| Totalassetslesscurrentliabilities | 3,705,273 | 3,549,210 | |||
| Incomefunds | |||||
| Unrestrictedfunds | 3,705,273 | 3,549,210 | |||
| 3,705,273 | 3,549,210 |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| UKdividends | 32,412 | 29,860 | |
| UKInterestfromfixedandunittrusts | 36,632 | 17,926 | |
| Overseasdividendsandinterest | 20,124 | 20,308 | |
| Bankinterest | 15,854 | 8,265 | |
| 105,022 | 76,359 | ||
| 4 | Otherincome | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accruedincome | 471 | ||
| 5 | Raisingfunds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Investmentmanagementfees | 16,960 | 16,737 |
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds |
|
| 2024 | 2023 |
|
| £ | £ |
|
| Grants(seenote17) | 90,400 | 110,200 |
| Shareofgovernancecosts(seenote8) | 6,961 | 11,573 |
| 97,361 | 121,773 |
|
| Grantspayable | ||
| Total | Total | |
| 2024 | 2023 | |
| £ | £ | |
| Grantstoinstitutions: | ||
| Children | 23,000 | 35,000 |
| Disability | 3,000 | 6,000 |
| Poverty | 4,000 | 4,000 |
| Individuals | 2,400 | 2,400 |
| International | 35,000 | 22,000 |
| Sport | 8,000 | 19,800 |
| Theatre&Arts | 10,000 | 10,000 |
| Education | 5,000 | |
| Other | 11,000 | |
| 90,400 | 110,200 |
| Governancecosts | ||||
|---|---|---|---|---|
| SupportcostsGovernancecosts | 2024 | 2023 | ||
| £ | £ | £ | £ | |
| Bankcharges | 61 | 61 | 28 | |
| Accountancy | 2,725 | 2,725 | 2,690 | |
| Legalfees | 2,700 | 2,700 | 7,380 | |
| Independentexaminer'sfees | 1,475 | 1,475 | 1,475 | |
| 6,961 | 6,961 | 11,573 |
| Listed | Cashin | Total | |
|---|---|---|---|
| investments | portfolio | ||
| £ | £ | ||
| Valuation | |||
| At6April2023 | 3,032,621 | 464,914 | 3,497,535 |
| Additions | 1,358,760 | 1,358,760 | |
| Valuationchanges | 154,117 | 154,117 | |
| Realisedprofit | 10,774 | 10,774 | |
| Invested | (82,649) | (82,649) | |
| Disposals | (1,309,458) | (1,309,458) | |
| At5April2024 | 3,246,814 | 382,265 | 3,629,079 |
| At5April2023 | 3,032,621 | 464,914 | 3,497,535 |
| Investment | Units | MarketValue %ofTotalMarket |
MarketValue %ofTotalMarket |
|---|---|---|---|
| £ | Value | ||
| ArtemisCorporateBond | 250,000 | 229,575 |
7.07% |
| BailieGiffordStrategicBondBInc | 300,000 | 228,450 |
7.04% |
| BlackrockCorpBond | 216,238 | 218,855 |
6.74% |
| JPMorganAmericanInvTrust | 20,000 | 195,600 |
6.02% |
| MercantileInvestmentTrust | 75,000 | 166,500 |
5.13% |
| MurrayIncomeTrust | 20,000 | 165,000 |
5.08% |
| MurrayInternational | 70,000 | 173,600 |
5.35% |
| PolarCapitalTechnologyTrust | 8,000 | 239,600 |
7.38% |
| ScottishMortgagesInvTrustPLC | 29,500 | 252,992 |
7.79% |
| WsRufferInvestment | 49,763 | 172,075 |
5.30% |
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Listedinvestments | 3,246,814 | 3,032,621 |
| Cashininvestmentportfolio | 382,265 | 464,914 |
| 3,629,079 | 3,497,535 |
| 13 | Netgains/(losses)oninvestments | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Gain/loss)onrevaluationofinvestments | 154,117 | (188,984) | |
| Gain/(loss)onsaleofinvestments | 10,774 | (139,541) | |
| 164,891 | (328,525) | ||
| 14 | Debtors | ||
| 2024 | 2023 | ||
| Amountsfallingduewithinoneyear: | £ | £ | |
| Prepaymentsandaccruedincome | 2,301 | ||
| 15 | Creditors:amountsfallingduewithinoneyear | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accrualsanddeferredincome | 8,557 | 8,277 |
| 17 | Grantspayable | |||
|---|---|---|---|---|
| OutsideofUK | 2024 | 2023 | ||
| £ | £ | |||
| Grantstoinstitutions: | ||||
| APEProject | 3,000 | |||
| BirminghamBallet | 3,000 | |||
| BocciaEngland | 2,000 | 3,000 | ||
| Cecily'sFund | Zambia | 4,000 | ||
| Challengers | 4,000 | 4,000 | ||
| ChildrenonTheEdge | Uganda | 4,000 | 4,000 | |
| CityUniversity | 5,000 | |||
| CricketwithoutBoundaries | 2,000 | |||
| DramaExpressionsforChildren | 2,000 | 2,000 | ||
| EikonCharity | 3,000 | 2,000 | ||
| FelixProject | 4,000 | 4,000 | ||
| FootstepsInternational | Kenya | 3,000 | 3,000 | |
| ForeverAngels | Tanzania | 3,000 | ||
| GetSet4Tennis | 3,000 | |||
| HandicappedChildren'sActionGroup | 3,000 | |||
| HappyDays | 5,000 | |||
| HoneyPotChildren'sCharity | 3,000 | 3,000 | ||
| ImpactFoundation | Kenya | 3,000 | ||
| IslandTrust | 3,000 | |||
| Jessie'sTrust | 2,000 | |||
| KeenLondon | 3,000 | 3,000 | ||
| KidsClubKampala | Uganda | 4,000 | 3,000 | |
| KidsOut | 2,000 | |||
| KMCharity | 2,000 | |||
| LunchbowlNetwork | Kenya | 4,000 | 3,000 | |
| MalaikaKids | Tanzania | 4,000 | 4,000 | |
| NorthernBallet | 12,000 | |||
| OrionHarriers | 1,800 | |||
| RainbowTrust | 5,000 | 5,000 | ||
| Re-cycleBikesAfrica | Zambia | 3,000 | ||
| SandDams | Kenya | 2,000 | ||
| SightforSurrey | 3,000 | 3,000 | ||
| SquarePegsArts | 4,000 | 4,000 | ||
| StarlightChildren'sFoundation | 3,000 | 3,000 | ||
| SnowCamp | 4,000 | 4,000 | ||
| TankertonFootballClub | 2,000 | |||
| ThomasTheyer Foundation | 3,000 | |||
| TotalInsightTheatre | 2,000 | |||
| TreloarTrust | 3,000 | |||
| ToolsforSelfReliance | Malawi | 2,000 | ||
| YoungUrbanArtsFoundation | 2,000 | |||
| ZambiaOrphansAidUK | Zambia | 2,000 | 2,000 | |
| Carriedforward | 88,000 | 107,800 |
| Grantspayable | (Continued) | ||
| OutsideofUK | 2024 | 2023 | |
| £ | £ | ||
| Broughtforward | 88,000 | 107,800 | |
| Grantstoindividuals: | |||
| EthanO'Shea | 1,200 | 1,200 | |
| CEAlexander | 1,200 | 1,200 | |
| 2,400 | 2,400 | ||
| Total | 90,400 | 110,200 |
| At6April | Incoming | Resources | Gainsand | At5April | |
|---|---|---|---|---|---|
| 2023 | resources | expended | losses | 2024 | |
| £ | £ | £ | £ | £ | |
| Generalfunds | 3,549,210 | 105,493 | (114,321) | 164,891 | 3,705,273 |
| Previousyear: | At6April | Incoming | Resources | Gainsand | At5April |
| 2022 | resources | expended | losses | 2023 | |
| £ | £ | £ | £ | £ | |
| Generalfunds | 3,939,886 | 76,359 | (138,510) | (328,525) | 3,549,210 |
| Holding | MarketValue | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValue | GrossIncome | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | April2023 | 6April2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
| £ | £ | £ | £ | £ | £ | £ | ||||||
| 3iInfrastructure | ||||||||||||
| OrdinaryNoParValue | ||||||||||||
| 40,000 | 126,000 | 9,250 | 30,062 | 2,230 | ||||||||
| 2,260 | ||||||||||||
| 4,247 | 49,250 | 160,309 | 120 |
|||||||||
| ArtemisFundManagers | ||||||||||||
| CorporateBondFGBPDis | ||||||||||||
| 200,000 | 179,880 | (345) | 1,806 | |||||||||
| 50,000 | 42,915 | 2,350 | ||||||||||
| (315) | 2,864 | |||||||||||
| 7,440 | 250,000 | 229,575 | 3,133 |
|||||||||
| BaillieGifford | ||||||||||||
| StrategicBondBIncNay | ||||||||||||
| 215,000 | 157,810 | 85,000 | 60,809 | 452 | ||||||||
| (178) | 452 | |||||||||||
| 452 | ||||||||||||
| 452 | ||||||||||||
| 1,200 | ||||||||||||
| 1,200 | ||||||||||||
| 1,680 | ||||||||||||
| 630 | ||||||||||||
| 630 | ||||||||||||
| 630 | ||||||||||||
| 870 | ||||||||||||
| 10,009 | 300,000 | 228,450 | 870 |
| Holding | MarketValue | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValueGrossIncome | MarketValueGrossIncome | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6April2023 | 6April2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
| £ | £ | £ | £ | £ | £ | £ | |||||
| BaillieGifford&Co | |||||||||||
| PositiveChangeBAcc | |||||||||||
| 42,300 | 131,638 | 465 | 42,300 | 137,644 | 5,541 | 465 | |||||
| BlackrockAssetManagementUKLtd | |||||||||||
| CorporateBondInc | |||||||||||
| 160,000 | 163,600 | 160,000 | 153,616 | (9,984) | 1,520 | ||||||
| 1,683 | |||||||||||
| 1,746 | |||||||||||
| 1,814 | |||||||||||
| BlackrockFundManagersLtd | |||||||||||
| CorporateBondSInc | |||||||||||
| 166,238 | 153,616 | 284 | |||||||||
| 50,000 | 46,559 | 546 | |||||||||
| (242) | 18,922 | 216,238 | 218,855 | ||||||||
| CGPortfolioFund | |||||||||||
| RealReturn'A' | |||||||||||
| 800 | 160,128 | 800 | 171,356 | 11,228 | 3,562 | ||||||
| CgPortfolioFundlcav | |||||||||||
| RealReturnAGBPNav | |||||||||||
| ChangedfromCGPortfolioFdPlcRealReturnAGBPNav | on21/02/2024 | ||||||||||
| 800 | 171,356 | (21,028) | 800 | 150,328 |
| Holding | Market | Value | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValue | GrossIncome | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | April2023 | 6April | 2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
| £ | £ | £ | £ | £ | £ | £ | |||||||
| EdinburghInvestmentTrust | |||||||||||||
| Ordinary25p | |||||||||||||
| 22,000 | 144,100 | 1,474 | |||||||||||
| 1,474 | |||||||||||||
| 1,474 | |||||||||||||
| 7,040 | 22,000 | 151,140 | 1,474 |
||||||||||
| FinsburyGrowthTrust | |||||||||||||
| Ordinary25p | |||||||||||||
| 12,160 | 109,075 | 1,034 | |||||||||||
| (7,904) | 12,160 | 101,171 | 1,277 |
||||||||||
| FirstTrust | |||||||||||||
| CloudComputingUCITSETF | |||||||||||||
| 4,200 | 91,151 | 4,200 | 108,706 | 17,555 | |||||||||
| HidInfrastructurePlc | |||||||||||||
| OrdinaryGBP0.0001 | |||||||||||||
| 104,000 | 161,824 | 24,000 | 30,312 | 689 | |||||||||
| 1,464 | |||||||||||||
| 43 | |||||||||||||
| 2,100 | |||||||||||||
| 943 | |||||||||||||
| 1,200 | |||||||||||||
| 878 | |||||||||||||
| (32,136) | 128,000 | 160,000 | 1,264 |
| Holding | Holding | MarketValue | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValueGrossIncome | MarketValueGrossIncome | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6April | 2023 | 6April2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
£ |
£ |
£ |
£ |
£ |
£ |
£ |
||||||
| IfslEvenlodeInvestmentFundsIcyc | ||||||||||||
| lfslEvenlodeIncomeFundDDis | ||||||||||||
| ChangedfromEvenlodeInvMgmtLtdTb | EvenlodeIncomeDDison02/10/2023 | |||||||||||
| ChangedfromWsEvenlodeInvestmentFundsIcvcWsEvenlodeIncomeFund | DDison09/03/2024 | |||||||||||
| 79,986 | 204,013 |
79,986 | 201,270 | (2,743) | 1,616 | |||||||
| 1,353 | ||||||||||||
| JlenEnvironmentalAssetsGroup | Ltd | |||||||||||
| OrdinaryNoParValue | ||||||||||||
| 160,000 | 193,280 |
2,864 | ||||||||||
| 3,024 | ||||||||||||
| 3,024 | ||||||||||||
| (51,840) | 160,000 | 141,440 | 3,040 | |||||||||
| JPMorganAmericanInvTrustplc | ||||||||||||
| Ordinary5pshares | ||||||||||||
| 24,320 | 169,997 | 4,320 | 35,531 | 5,334 | 1,155 | |||||||
| 55,800 | 20,000 | 195,600 | 608 | |||||||||
| LinkFundSolutionsLtd | ||||||||||||
| TrojanXInc | ||||||||||||
| 134,000 | 169,363 | 134,000 | 166,508 | (2,855) | ||||||||
| MercantileInvestmentTstPic(The) | ||||||||||||
| OrdinaryGBP0.025 | ||||||||||||
| 75,000 | 153,000 | 1,088 | ||||||||||
| 1,088 | ||||||||||||
| 13,500 | 75,000 | 166,500 | 1,088 |
| Holding | Holding | MarketValue | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValue | GrossIncome | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | April | 2023 | 6April2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
| £ | £ | £ | £ | £ | £ | £ | |||||||
| MurrayIncomeTst | |||||||||||||
| OrdinaryGBP0.25 | |||||||||||||
| 20,000 | 159,800 | 1,900 | |||||||||||
| 5,200 | 20,000 | 165,000 | 1,900 |
||||||||||
| MurrayInternationalTrust | |||||||||||||
| OrdinaryGBP0.05 | |||||||||||||
| 70,000 | 167,300 | 1,680 | |||||||||||
| 6,300 | 70,000 | 173,600 | 1,680 |
||||||||||
| PersonalAssetsTrustPlc | |||||||||||||
| GBP0.125 | |||||||||||||
| 40,000 | 189,800 | 40,000 | 187,640 | (2,160) | 560 | ||||||||
| PolarCapitalTechnologyTrust | |||||||||||||
| Ordinary25p | |||||||||||||
| 8,000 | 156,320 | 83,280 | 8,000 | 239,600 | |||||||||
| ScottishMortgageInvTrust | |||||||||||||
| Ord5p | |||||||||||||
| 29,500 | 189,567 | 738 | |||||||||||
| 63,425 | 29,500 | 252,992 | 472 |
||||||||||
| SSGASPDRETFSEurope | Iplc | ||||||||||||
| S&O500ETF(GBP) | |||||||||||||
| 450 | 147,102 | 450 | 147,186 | 84 | |||||||||
| Treasury | |||||||||||||
| 41/4%Stk07/06/2032 | |||||||||||||
| 112,500 | 117,236 | (2,182) | 112,500 | 115,054 |
| Holding | Holding | MarketValue | Additions | Disposals | Disposals | Profit | Unrealised | Holding | Holding | MarketValue | GrossIncome | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6April | 2023 | 6April2023 | Quantity | Cost | Quantity | Proceeds | (Loss) | Profit | 5April | 2024 | 5April2024 | |
£ |
£ |
£ |
£ |
£ |
£ |
£ |
||||||
| Treasury | ||||||||||||
| 41/4%Stk2036 | ||||||||||||
| 110,000 | 109,338 | 1,432 | 110,000 | 110,770 | 2,338 |
|||||||
| UnitedKingdom(GovernmentOf) | ||||||||||||
| 0.875%Bds31/01/2046GBP1000'regs' | ||||||||||||
| 230,000 | 117,072 | (2,716) | 230,000 | 114,356 | 1,006 |
|||||||
| WsRufferInvestmentFunds | ||||||||||||
| WsRufferTotalReturnJDis | ||||||||||||
| ChangedfromLinkFundSolutionsLtdRufferTotalReturnJDison09/10/2023 | ||||||||||||
| 49,763 | 187,974 | 2,437 | ||||||||||
| (15,899) | 49,763 | 172,075 | 1,827 |
|||||||||
| TOTAL: | 3,032,622 | 1,358,760 | 1,309,457 | 10,772 | 154,118 | 3,246,815 | 89,175 |