The Three Squirrels Trust CIO
Registered Charity Number 1185828
Report and Financial Statements
for the period from 5[th] April 2021 to 5[th] April 2022
Trustees: Mr. C. W. Humphreys Mrs P. M. Humphreys
Office: Hazel End Farm Hazel End Bishop’s Stortford CM23 1HG
Stockbrokers: Smith & Williamson 25 Moorgate London EC2R 6AY Solicitors: HCR Hewitsons 50 - 60 Station Road Cambridge, CB1 2JH
Trustees’ Report
On 15[th] October 2019, the Charity was entered onto the Register of Charities with the Registered Charity Number 1185828. The Charity is a CIO established for general charitable purposes.
The Trustees have decided that it is appropriate for the Charity to prepare its accounts on a receipts and payments basis as it is not classed as a company and its annual income is below £25,000. Its resources derive from a single gift of £100,000, on 9 December 2019, which is invested in marketable securities under the management of Smith & Williamson.
During the year to 5 April 2022, the financial climate deteriorated and no distributions were made to allow the balance on Income Account to recover. There were no expenses in the period apart from brokers’ fees of £531.
The Principles and Procedures of the Trust as adopted on 18 October 2019 remain unchanged.
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As to risk management, the Trustees consider that the performance of the charity’s investments constitutes its main risk. The portfolio is spread over 24 separate investments, with a wide geographical coverage. However, in the longer term it is the Trustees’ intention to limit grants to available income except where special circumstances arise and, with that in mind, the brokers have been asked to adjust the portfolio with a view to improving the yield.
Dated 29 January 2023
Signed: Petronella Humphreys Trustee
The Three Squirrels Trust CIO Registered Charity Number 1185828
Capital Statement as at 5th April 2022
| 6.4.21 Opening Value | 108,590 | |
|---|---|---|
| 5.4.22 Closing Value |
||
| Represented by Cash |
15,422 | |
| Bonds & Equities (22 holdings) | 92,394 | |
| Closing value | 107,816 | |
| Loss for year | 774 | |
| Income Account to 5th April 2022 | ||
| Defcit brought forward | (5,897) | |
| Dividends and interest | 1,538 | |
| Less Brokers’ charges including VAT | 531 | 1,007 |
| Defcit carried forward | (4,890) |
Note: No grants were made in the period covered by this statement.
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