| Page | ||
|---|---|---|
| Report ofthe trustees | 1-4 | |
| Independent examiners |
report | |
| Statement offinancial | activities | |
| Balance sheet | ||
| Notes to the financial statements | 8 —15 |
| Endowment | Unrestricted | 2022 | 2021 | |||
|---|---|---|---|---|---|---|
| Note | Funds | Funds | Total | Total | ||
| Income and endowments | ||||||
| Investments | 26,362 | 26,362 | 21,930 | |||
| Expenditure | ||||||
| Cost ofgrant making | ||||||
| - Royal Naval Benevolent | Trust for | |||||
| Pembroke House, Gillingham |
(14,860) | (14,860) | (21,000) | |||
| - Hospital of Sir John Hawkins |
(12,000) | (12,000) | (8,500) | |||
| - Mission to Seafarers | (5,000) | (5,000) | (5,000) | |||
| (31,860) | (31,860) | (34,500) | ||||
| Charitable activities |
||||||
| -Trustees expenses | (500) | (500) | (500) | |||
| - Bank charges | ||||||
| - Independent examiner's |
fee | (1,479) | (1,479) | (1,400) | ||
| Cost of raising funds | ||||||
| - Investment management |
costs | (7,245) | (7,245) | (6,950) | ||
| Total expenditure | (7,245 | 33,839 | (41,084) | (43,350) | ||
| Net income/(expenditure) | before | |||||
| gains and losses on investments | (7,245) | (7,477) | (14,722) | (21,420) | ||
| Net gains and losses on | investments | 47,437 | 47,437 | 165,475 | ||
| Net movements in funds |
40,192 | (7,477) | 32,715 | 144,055 | ||
| Total funds brought forward | 854,224 | 17,653 | 871,877 | |||
| Total funds transferred | from Medway | |||||
| Mission to Seamen Trust | 727,822 | |||||
| Total funds carried forward | 894,416 | 10,176 | 904,592 | 871,877 |
| Balance sheet | Balance sheet | |||||
|---|---|---|---|---|---|---|
| For the year | ended 5 April 2022 | |||||
| 2022 | 2021 | |||||
| Note | Total | Total | ||||
| F | ||||||
| Fixed assets | ||||||
| Investments | 3 | 860,423 | 838,662 | |||
| Current assets | ||||||
| Cash at bank | 4 | 47,519 | 36,448 | |||
| Current liabilities |
||||||
| Creditors | 5 | (3,350) | (3,233) | |||
| Net current assets | 44,169 | 33,215 | ||||
| Total assets | 904,592 | 871,877 | ||||
| Represented | by | |||||
| Endowment | funds | |||||
| Capital fund | 7 | 894,416 | 854,224 | |||
| Unrestricted | funds | |||||
| Income and expenditure | account | 8 | 10,176 | 17,653 | ||
| 904,592 | 871,877 | |||||
| Approved by |
the Board | ofTrustees | on 24th November | 2022 and signed on its | ||
| behalf by | ||||||
| Trustee | Trustee |
| 3) Investment Income |
3) Investment Income |
||
|---|---|---|---|
| 2022 | 2021 | ||
| Dividends | 21„'QQ | ||
| 4) Investment Summary |
|||
| 2022 | 2021 | ||
| E | |||
| Market value 6 April | 2021 | 838,662 | 660,885 |
| Acquisitions | 82,603 | 94,227 | |
| Disposals at opening | market value | (100,902) | (67,748) |
| Net gains on revaluation | 40 060 | 151295 | |
| Market value 5 April | 2022 | ||
| Historical cost 5 April | 2022 |
| The Medway Mission |
The Medway Mission |
to Mariners | |||
|---|---|---|---|---|---|
| Notes to the financial | statements | ||||
| For the year ended 5April 2022 | |||||
| 5)Cash at Bank | |||||
| 2022 | 2021 | ||||
| F | |||||
| Current account | 9,819 | 17,221 | |||
| Charles Stanley | deposit | 37700 | 19227 | ||
| 6)Creditors | |||||
| 2022 | 2021 | ||||
| Accruals | |||||
| 7) Endowment | Funds | ||||
| 2022 | 2021 | ||||
| E | |||||
| Capital Fund | |||||
| Balance brought | fowvard 6 April 2021 | 854,224 | |||
| Transfer from Medway | Mission to Seamen Trust | 695,699 | |||
| Gains on sales | of investments | 7,376 | 14,177 | ||
| Revaluation of investments |
40,060 | 151,298 | |||
| Brokers fees Exchange loss on sale/acquisition |
of investments | (7,244) | (6,781) ~169 |
||
| Balance carried | forward | 5 April 2022 | |||
| 8) Unrestricted | Funds | ||||
| 2022 | 2021f | ||||
| income and expenditure account |
|||||
| Balance brought | forward 6 April 2021 | 17,653 | |||
| Transfer from Medway | Mission to Seamen Trust | 32,123 | |||
| Deficit for the year | ~7477 | (1447DI | |||
| Balance carried | forward | 5 April 2022 |
| 9)Analysis of n |
et as | sets betw | een fund |
s | ||
|---|---|---|---|---|---|---|
| Endowment | Unrestricted | Total | ||||
| Funds | Funds | |||||
| F | ||||||
| Fund Balances | at 5 April 2022 | are | ||||
| represented by |
||||||
| Investments | 860,423 | 860,423 | ||||
| Current assets Current liabilities |
35,743 ~1750 |
11,776 ~1600 |
47,519 ~3350 |
|||
| Total net assets | ||||||
| Unrealised gains included above |
||||||
| On investments | 242 904 | 242 904 | ||||
| Total unrealised | gains | at 5 April | 2022 | |||
| Reconciliation | ofmovements | in | ||||
| unrealised gains on |
investments | |||||
| Unrealised gains |
at 6 | April 2021 | 208,637 | 208,637 | ||
| In respect ofdisposals | (5,793) | (5,793) | ||||
| Gains on revaluations | in the year | 40 060 | 40 060 | |||
| Unrealised gains |
at 5 | April 2022 |
| NOTES TO THE | FINANCIAL STATEMENTS | FINANCIAL STATEMENTS | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FOR THE YEAR | ENDED 5TH APRIL 2022 | ||||||||||||||||
| (continued) | |||||||||||||||||
| 2) INVESTMENT SUMMARY | |||||||||||||||||
| Market | value | Acquisitions | Disposals | Profit/(loss) | Change | in | Market value | Book value | Income | Book value | Income | ||||||
| 2021 | Valuation | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||
| f | f | f | f | f | f | f | |||||||||||
| Accenture PLC |
|||||||||||||||||
| 115US$0.000025 A shares | 23.273 | 11,238.55 | 3,143.54 | 4,422 | 19,600.07 | 7,618.26 | 209.46 | 11,681.33 | 219.45 | ||||||||
| American Tower | Corpn | ||||||||||||||||
| 75 US$0.01 Common stock | 13,206 | 1,815 | 15,020.85 | 11,909.43 | 239.24 | I 1,974.00 | 0.00 | ||||||||||
| Baillie Gi(ford & | Co | ||||||||||||||||
| 330Japanese Small Companies | BNav Units | 20,057 | (5,013) | 15,044.70 | 21,170.63 | 0.00 | 21,154.88 | 0.00 | |||||||||
| Blackrock Fund Managers | Ltd | ||||||||||||||||
| 24,792.70 Continental Europe |
Income D Units | 43,263 | 1,052 | 44,315.54 | 29,956.21 | 1,392.45 | 29,956.21 | 1,149.90 | |||||||||
| Compass Group | |||||||||||||||||
| 885Ords 0.1105 | 13.231 | 13,495.83 | 265.08 | 0.00 | 14,901.57 | 0.00 | |||||||||||
| Diageo PI.C | |||||||||||||||||
| 880 Ordinary 28p 101/IOS |
shares | 26,462 | 11,463.85 | 2,593.20 | 5,689 | 23,280.08 | 2,772.67 | 638.44 | 4, | 170.86 | 614.95 | ||||||
| First Trust Global | Funds | ||||||||||||||||
| 1,330US Equity | Income UCITS ETFA USD | 28,139 | 3,540 | 31,679.46 | 24,718.32 | 862.04 | 24,718.32 | 555.28 | |||||||||
| FRP Advisory Group PLC |
|||||||||||||||||
| 13,285 Ordimuy | Ip shares | 17,473.43 | (1,199) | 16,274.13 | 17,473.43 | 106.28 | 0.00 | 0.00 | |||||||||
| Genuit Group PLC | |||||||||||||||||
| 2,330Ordinary | O.Ip shares | 13,211 | (1,829) | 11,382.05 | 12,524.36 | 205.04 | 12,524.36 | 0.00 | |||||||||
| Glaxo Smithkline | PLC | ||||||||||||||||
| 1,410Ordituuy | 25p shares | 18,014 | 24,023.58 | 10,427.38 | 1,128.00 | 10,427.38 | 1,128.00 | ||||||||||
| Home Reit PLC | |||||||||||||||||
| 26,000f0.01Ords | 29,640 | 2,964 | 32,604.00 | 26,230.00 | 637.52 | 26,230.00 | 215.80 | ||||||||||
| Hill &Smith | |||||||||||||||||
| 83925p Onls | 12,350 | 151 | 12,501.10 | 10,397.17 | 247.51 | 10,397.17 | 77.19 | ||||||||||
| Intertek Group | |||||||||||||||||
| '250 Ip Ords | 14,300 | (1,085) | 13,215.00 | 15,716.67 | 264.50 | 15,716.67 | 0.00 | ||||||||||
| International Flavours & Fragrances |
|||||||||||||||||
| 110Common Stock $0.125 | 0.00 | 0.00 | 49.72 | 0.00 | 163.00 | ||||||||||||
| CC Japan Income | &Growth Trust | ||||||||||||||||
| 12,158f0.01 Ords | 0.00 | 0.00 | 0.00 | 170.21 | |||||||||||||
| Carried forward | 255,146 | 17,473.43 | 36,198.23 | 6,001.82 | 16,517.12 | 258,940.56 | 190,914.53 | 5,980.20 | 193,852.75 | 4,293.78 | |||||||
| -13- |
| 2) INVESTMENT SU | M | M | ARY | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Market | value | Acquisitions | Disposals | Profit/(loss) | Change in | Market value | Book value | Income | Book value | Income | |||||
| 2021 | Valuation | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||
| f | f | f | f | ||||||||||||
| Brought forward | 255,146 | 17,473.43 | 36,198.23 | 6,001.82 | 16,517 | 258,940.56 | 190,914.53 | 5,980.20 | 193,852.75 | 4,293.78 | |||||
| Johnson R Jolmson | |||||||||||||||
| 160Connnon stock $1 |
18,803 | 2,$45 | 21,647.92 | 15,143.95 | 421.27 | 15,143.95 | 410.70 | ||||||||
| Kion Group AG | |||||||||||||||
| 294 Ords | 21,304 | (6,661) | 14,643.67 | 16,592.90 | 75.72 | 16,592.90 | 6.97 | ||||||||
| Matthews International |
Funds | ||||||||||||||
| 2,689.88Asia Dividend | IGBP Dist units | 54,793 | (6,644) | 48,148.85 | 34,999.99 | 1,252.03 | 34,999.99 | 792.18 | |||||||
| JP Morgan FIobal Emerging | Markets Income Trust | ||||||||||||||
| 15,550f0.01Ords | 23,448.24 | (2,456) | 20,992.50 | 23,448.24 | 637.55 | 0.00 | 0.00 | ||||||||
| National Grid |
|||||||||||||||
| 2,209Ordinmy 12.431289p shares |
19,075 | 7,676 | 26,750.99 | 14,526.23 | 1,090.58 | 14,526.23 | 1,082.41 | ||||||||
| Nextera Energy Inc | |||||||||||||||
| 380Common stock 80.01 | 21,001 | 3,9$1 | 24,982.67 | 12,964.47 | 375.17 | 12,964.47 | 346.41 | ||||||||
| Phoenix Group Holdings | PLC | ||||||||||||||
| 2,025 Otrdinary 10p shares |
13,901.94 | (1,270) | 12,631.95 | 13,901.94 | 4$8.03 | 0.00 | 0.00 | ||||||||
| Reckitt Benckiser Group | PLC | ||||||||||||||
| 220 Ords f0.10 | 14,293 | (1,186) | 13,107.60 | 13,377.14 | 384.12 | 13,377,14 | 384.12 | ||||||||
| Relx PLC | |||||||||||||||
| 615f0.1444 Ords | 11,285 | 3,752 | 15,036.75 | 5,536.98 | 293.36 | 5,536.9$ | 425.51 | ||||||||
| Rio Tinto | |||||||||||||||
| 350Ordinary 10pshares |
19,180 | 2,240 | 21,420.00 | 11,583.18 | 2,424.56 | 11,583.18 | 1,040.24 | ||||||||
| Royal Dutch Shell 1310"B"shares 0.07Euni |
17,494 | 10,291 | 27,785.10 | 14,422.94 | 864.35 | 14,422.94 | 518.33 | ||||||||
| Schroeder Unit Trusts | |||||||||||||||
| 27,345.97Asian Income | Maximiser Z Dis | 14,564 | (366) | 14,198.03 | 15,913.07 | 1,054.65 | 15,913.07 | 947.75 | |||||||
| Schroeder Unit Trusts | |||||||||||||||
| 46,875US Equity Income | Maximiser Z Dis | 28,458 | 3,572 | 32,029.69 | 25,203.25 | 1,528.83 | 25,203.25 | 1,377.43 | |||||||
| Smiths (DS) | |||||||||||||||
| 4,020 10p Ords | 16,627 | (3,779) | 12,847.92 | 15,724.71 | 486.42 | 15,724.71 | 0.00 | ||||||||
| TBailey Fund Services | |||||||||||||||
| 10,250.534TBEvenlode | Income C Dis Units | 23,290 | 24,484.64 | 1,194.40 | 0.00 | 0.00 | 315.17 | 24,852.09 | 655.94 | ||||||
| Vodafone Group PLC | |||||||||||||||
| 10,334Ordinary 80.2095238 shares | 13,812 | (845) | 12,967.10 | 10,005.61 | 784.62 | 10,005.61 | 832.99 | ||||||||
| 549,127 | 54,$23.61 | 60,682.87 | 7,196.22 | 27,667.44 | 578,131.30 | 434,259.13 | 18,456.63 | 424,699.26 | 13,114.76 | ||||||
| - 14- |
| 2)INVESTMENT SUMMARY | 2)INVESTMENT SUMMARY | 2)INVESTMENT SUMMARY | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Market | value | Acquisitions | Disposals | Profit/(loss) | Change | in | Market value | Book value | Income | Book value | Income | ||||||||
| 2021 | Valuation | 2022 | 2022 | 2022 | 2021 | 2021 | |||||||||||||
| f | f | f | f | f | f | ||||||||||||||
| Global Investment Funds |
|||||||||||||||||||
| BNY Mellon Fund Managers | Ltd | ||||||||||||||||||
| 24,143.55 Units Real Return | Instl W GBPDis | 27,743 | (99) | 27,644.36 | 24,785.75 | 475.10 | 24,785.75 | 561.52 | |||||||||||
| Charities OIFtcial Investment |
Fund | ||||||||||||||||||
| 2,230.43 Income shares | 39,984 | 4,048 | 44,031.59 | 6,709.92 | 1,191.26 | 6,709.92 | I, | 167.84 | |||||||||||
| Foresight Group Global Real | Intrastructure | ||||||||||||||||||
| 20,680 Units | 27,779.33 | 416 | 28,195.11 | 27,779.33 | 0.00 | 0.00 | |||||||||||||
| Ninety One Fund Managers | UK | ||||||||||||||||||
| 23,838.729 Units Diversified | J2 Income | 24,132 | (I, | 159) | 22,973.38 | 24,958.28 | 858.54 | 24,958.28 | 919.00 | ||||||||||
| International Public Partnemship |
|||||||||||||||||||
| 16,295 lp Ord shares | 27,408 | 521 | 27,929.63 | 21,506.13 | 1,215.61 | 21,506.13 | I, | 184.65 | |||||||||||
| Maitland Institutional Services Ltd |
|||||||||||||||||||
| 49,109.4427 Units Charles | Stanley | Monhly | High Income | 47,417 | 47,596.05 | 179.51 | 0.00 | 0.00 | 1,325.97 | 49,845.08 | 1,931.99 | ||||||||
| Polar Capital Funds | |||||||||||||||||||
| 6321.5007 Units Global Insurance | E | 36,534 | 6,978 | 43,512.79 | 12,902.74 | 540.49 | 12,902.74 | 557.56 | |||||||||||
| RITCapital Partners | |||||||||||||||||||
| 1,265 Ordinary fI shares | 30,297 | 1,771 | 32,067.75 | 13,572.36 | 445.92 | 13,572.36 | 680.76 | ||||||||||||
| Schroeder Unit Trusts | |||||||||||||||||||
| 29,858.7315Strategic Credit L Dis | 28,784 | (1.311) | 27,473.03 | 29,727.12 | 1,270.28 | 29,727.12 | 1,241.35 | ||||||||||||
| 262,299 | 27,779.33 | 47,596.05 | 179.51 | 11,166.07 | 253,827.64 | 161,941.63 | 7,323.17 | 184,007.38 | 8,244.67 | ||||||||||
| Fixed interest securities | |||||||||||||||||||
| Treasury 2'/~% Index Linked |
Stock | 2024 | |||||||||||||||||
| f7,640 Stock | 27,237 | 1,227 | 28,463.58 | 21,318.30 | 582.17 | 21,318.30 | 570.25 | ||||||||||||
| 27,237 | 0.00 | 0.00 | 0.00 | 1,226.98 | 28,463.58 | 21,318.30 | 582.17 | 21,318.30 | 570.25 | ||||||||||
| SUMMARY | |||||||||||||||||||
| Equities | 549,127 | 54,823.61 | 60,682.87 | 7,196.22 | 27,667.44 | 578,131.30 | 434,259.13 | 18,456.63 | 424,699.26 | 13,114.76 | |||||||||
| Global Investment Funds |
262,299 | 27,779.33 | 47,596.05 | 179.51 | 11,166.07 | 253,827.64 | 161,941.63 | 7,323.17 | 184,007.38 | 8,244.67 | |||||||||
| Fixed Interest Securities | 27,237 | 0.00 | 0.00 | 0.00 | 1,226.98 | 28,463.58 | 21,318.30 | 582.17 | 21,318.30 | 570.25 | |||||||||
| 838,662 | 82,602.94 | 108,278.92 | 7,375.73 | 40,060.49 | 860,422.52 | 617,519.06 | 26,361.97 | 630,024.94 | 21,929.68 | ||||||||||
| 15- |