This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2022-05-31-accounts
| Reports |
Reports |
| Referenceandadministrativedetailsofthe |
|
| charity,itstrusteesandadvisers |
1 |
| Trustees'report |
2 |
| Independentauditor'sreport |
31 |
| Accounts |
|
| Statementoffinancialactivities |
35 |
| Balancesheet |
36 |
| Statementofcashflows |
37 |
| Principalaccountingpolicies |
38 |
| Notestotheaccounts |
42 |
| Trustees |
DCrudge |
|
BEdgar |
|
REller |
|
CGibson |
|
HHamer(Chairperson) |
|
KSmalls |
|
RTocockMBE |
|
STopping |
| Postaladdress |
BHSTrustFund |
|
POBox7762 |
|
Kettering |
|
NN166NP |
| Telephone |
07495723550 |
| Charityregistrationnumber |
1171705 |
| Auditor |
BuzzacottLLP |
|
130WoodStreet |
|
London |
|
EC2V6DL |
| Bankers |
HSBCBankplc |
|
90BakerStreet |
|
London |
|
W1M2AX |
| Investmentmanagers |
InvestecWealthandInvestmentLimited |
|
30GreshamStreet |
|
London |
|
EC2V7QN |
| Solicitors |
RoydsWithyKingLLP |
|
69CarterLane |
|
London |
|
EC4V5EQ |
H Hamer
7 February 2023
15 February 2023
|
|
Unrestrictedfunds |
Unrestrictedfunds |
|
|
2022 |
2021 |
|
|
funds |
funds |
|
Notes |
£ |
£ |
| Incomefrom: |
|
|
|
| Investments |
1 |
73,312 |
68,844 |
| Interestreceivable |
1 |
23 |
19 |
| Othersources |
|
155 |
142 |
| Totalincome |
|
73,490 |
69,005 |
| Expenditureon: |
|
|
|
| Raisingfunds |
|
|
|
| .Investmentmanagementfees |
|
21,889 |
21,394 |
| Charitableactivities |
|
|
|
| .ReliefofhardshipamongstformeremployeesofBhs |
|
|
|
| Limited,theirdependentsandretiredemployeesofthat |
|
|
|
| company |
2 |
232,401 |
204,023 |
| Totalexpenditure |
|
254,290 |
225,417 |
| Netexpenditurebeforeinvestment(losses)gains |
|
(180,800) |
(156,412) |
| Netinvestment(losses)gains |
8 |
(112,333) |
475,332 |
| Net(expenditure)incomeandnetmovementinfunds |
5 |
(293,133) |
318,920 |
| Reconciliationoffunds: |
|
|
|
| Fundbalancesat1June2021 |
|
3,469,541 |
3,150,621 |
| Fundbalancesat31May2022 |
|
3,176,408 |
3,469,541 |
H Hamer
7 February 2023
|
Notes |
2022 |
2021 |
|
|
£ |
£ |
| Cashflowsfromoperatingactivities: |
|
|
|
| Netcashusedinoperatingactivities |
A |
(277,024) |
(184,798) |
| Cashflowsfrominvestingactivities: |
|
|
|
| Investmentincomeandinterestreceived |
|
75,506 |
66,850 |
| Proceedsfromdisposalofinvestments |
|
438,693 |
885,716 |
| Purchaseofinvestments |
|
(238,269) |
(745,628) |
| Netcashprovidedbyinvestingactivities |
|
275,930 |
206,938 |
| Changeincashandcashequivalentsintheperiod |
|
(1,094) |
22,140 |
| Cashandcashequivalentsat1June2021 |
|
139,233 |
117,093 |
| Cashandcashequivalentsat31May2022 |
B |
138,139 |
139,233 |
| Notestothestatementofcashflowsfortheperiodto31May2022 |
|
|
|
| Reconciliationofnetmovementinfundstonetcash |
usedinoperatingactivities |
|
|
|
|
2022 |
2021 |
|
|
£ |
£ |
| Netmovementinfunds(asperthestatementoffinancialactivities) |
|
(293,133) |
318,920 |
| Adjustmentsfor: |
|
|
|
| Losses(gains)oninvestments |
|
112,333 |
(475,332) |
| Investmentincomeandinterestreceivable |
|
(73,335) |
(68,863) |
| Decreaseindebtors |
|
|
6,000 |
| (Decrease)increaseincreditors |
|
(22,889) |
34,477 |
| Netcashusedinoperatingactivities |
|
(277,024) |
(184,798) |
| Analysisofchangesincashandcashequivalents |
|
|
|
|
2021 |
Cashflows |
2022 |
|
£ |
£ |
£ |
| Cashatbankandinhand |
75,211 |
47,086 |
122,297 |
| Cashheldbyinvestmentmanagers |
64,022 |
(48,180) |
15,842 |
| Totalcashandcashequivalents |
139,223 |
(1,094) |
138,139 |
| Incomefrom:Investmentsandinterestreceivable |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Incomefromlistedinvestments |
|
|
| UKfixedinterestsecurities |
4,736 |
5,070 |
| Overseasequities |
21,797 |
19,634 |
| UKequities |
32,461 |
33,266 |
| Alternatives |
14,318 |
10,874 |
|
73,312 |
68,844 |
| Incomefrominterestreceivable |
|
|
| Bankinterest |
17 |
19 |
| Interestoncashheldwithinvestmentmanagers |
6 |
|
|
23 |
19 |
| Total |
73,335 |
68,863 |
Expenditureon:Reliefofhardshipamongstformeremploye
dependentsandretiredemployeesofthatcompany |
esofBhsLimi |
ted,their |
|
2022 |
2021 |
|
£ |
£ |
| Grantspayable |
140,419 |
132,846 |
| RetiredStaffAssociationexpenses |
8,076 |
1,348 |
| Administrationcostsincludingliaisonwithgrantandloanrecipients |
83,906 |
69,829 |
|
232,401 |
204,023 |
|
2022 |
2021 |
|
£ |
£ |
| Hardshipgrants |
122,027 |
114,511 |
| Christmasgrants |
16,169 |
18,335 |
| Holiday |
2,223 |
— |
|
140,419 |
132,846 |
|
2022 |
2021 |
|
£ |
£ |
| Wagesandsalaries |
41,548 |
33,394 |
| Governancecosts |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Auditor'sremuneration(includingVAT): |
|
|
| .Statutoryauditservices |
9,150 |
7,602 |
| Legalandprofessional |
1,152 |
4,624 |
|
10,302 |
12,226 |
| Netincome(expenditure)andnetmovementinfunds |
|
|
| Thisisstatedaftercharging: |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Staffcosts(note3) |
41,548 |
33,394 |
| Auditor'sremuneration(includingVAT) |
9,150 |
7,602 |
| Investments |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Listedinvestmentsatmarketvalue |
|
|
| .At1June2021 |
3,375,755 |
3,040,511 |
| .Additionsatcost |
238,269 |
745,628 |
| .Disposalsatopeningbookvalue(proceeds:£438,693;realised |
|
|
| gains:£24,380) |
(414,313) |
(798,416) |
| .Unrealisedgains(losses)onrevaluation |
(136,713) |
388,032 |
| .At31May2022 |
3,062,998 |
3,375,755 |
| Cashheldbyinvestmentmanagersforreinvestment |
15,842 |
64,022 |
|
3,078,840 |
3,439,777 |
| Listedinvestmentsatcost |
2,377,703 |
2,498,084 |
|
2022 |
2021 |
|
£ |
£ |
| UKfixedinterestsecurities |
80,540 |
126,469 |
| Overseasfixedinterestsecurities |
149,028 |
135,919 |
| UKequities |
922,095 |
1,109,204 |
| Overseasequities |
1,415,113 |
1,546,898 |
| Propertyfunds |
224,494 |
192,864 |
| Alternatives |
271,728 |
264,401 |
|
3,062,998 |
3,375,755 |
|
2022 |
2022 |
2021 |
2021 |
|
Market |
%of |
Market |
%of |
|
value
£ |
portfolio
% |
value
£ |
portfolio
% |
| CharitiesPropertyFund |
187,766 |
6.1 |
161,694 |
4.8 |
| SchroderInvMgEISFAsianTotalRtnC |
158,341 |
5.2 |
175,303 |
5.1 |
| JPMorganFundsLtdUSEquityIncK |
231,450 |
7.6 |
200,400 |
6.0 |
| BaillieGiffordAmericanW3Dis |
110,542 |
3.6 |
200,421 |
6.0 |
| SpdrS&P500EtfTr.UnitsSer1S&P |
393,245 |
12.8 |
394,048 |
11.7 |
| Debtors |
|
|
|
2022 |
2021 |
|
£ |
£ |
| Accruedinvestmentincome |
231 |
2,402 |
|
231 |
2,402 |
| Creditors:amountsfallingduewithinone |
year |
|
|
2022 |
2021 |
|
£ |
£ |
| Investmentpurchase |
— |
27,200 |
| Grantspayable |
11,898 |
8,428 |
| Accruals |
13,062 |
12,221 |
|
24,960 |
47,849 |
Thetotalunrealisedgainsat31May2022constitutedmovem
asfollows: |
entsonrevaluatio |
nandwere |
|
2022 |
2021 |
|
£ |
£ |
| Totalunrealisedgainsat31May2022:Oninvestments |
685,295 |
877,671 |
| Reconciliationofmovementsinunrealisedgains: |
|
|
| Unrealisedgainsat1June2021 |
877,671 |
584,145 |
| Inrespecttodisposalsintheperiod |
(80,044) |
(94,506) |
| Net(losses)gainsarisingonrevaluationsarisingintheperiod |
(112,332) |
388,032 |
| Totalunrealisedgainsat31May2022 |
685,295 |
877,671 |