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||||Note|Restricted|Funds|Unrestricted|Funds||2019|
|---|---|---|---|---|---|---|---|---|---|
|||||Endowed|Legacies|General|Reserve|Total||
|||||Funds|Fund|Fund|Fund|Funds||
|||||||||6||
|Income and endowments
from||||||||||
|Donations
and|legacies|||||||||
|Subscriptions||||||21||21|21|
|Income from Investments||||||||||
|UK Investment|Income|||750,147|32,989|123,167|37,914|944,217|1,226,448|
|Non UK Investment
Income||||167,764|7,378|27,545|26,486|229,173|229,085|
|Deposit Interest||||27,885|1,226|4,578|426|34,115|15,446|
|Total Income and|endowments|||945,796|41,593|155,311|64,826|1,207,526|1,471,000|
|Expenditure
on||||||||||
|Expenditure
on|raising funds||4|129,876|5,712|21,324||156,912|161,643|
|Expenditure
on|Charitable|activities|5|1,101,712|48,450|180,890||1,331,052|1,277,753|
|Total Expenditure||||1,231,588|54,162|202,214||1,487,964|1,439,396|
|||||(285,792)|(12,569)|(46,903)|64,826|(280,438)|31,604|
|Net Gains/(losses)|on investments||10812|1,050,600|46,203|172,498|333,427|1,602,728|6,477,462|
|Net Income/(Expenditure)||||764,808|33,634|125,595|398,253|1,322,290|6,509,066|
|Transfer ofSpecial Dividends||||||||||
|Transfers
between|funds||9|285,792|12,569|46,903|(345,264)|||
|Net Movement of|Funds|||1,050,600|46,203|172,498|52,989|1,322,290|6,509,066|
|Total Funds Brought Forward||||35,627,058|1,565,311|5,848,947|4,291,802|47,333,118|40,824,052|
|Total Funds Carried Forward||||36,677,658|1,611,514|6,021,445|4,344,791|48,655,408|47,333,118|
##
|the Year ended 3|1st Dece|mber 2019||||||
|---|---|---|---|---|---|---|---|
||||Restricted|Funds|Unrestricted|Funds||
||||Endowed|Legacies|General|Reserve|Total|
||||Funds|Fund|Fund|Fund|2019|
||||||6|F|F|
|Income and endowments
from||||||||
|Donations
and legacies||||||||
|Subscriptions|||||21||21|
|Income from Investments||||||||
|UK Investment|Income||971,257|42,713|159,471|53,007|1,226,448|
|Non UK Investrnerrt
Income|||168,266|7,400|27,628|25,791|229,085|
|Deposit Interest|||12,184|536|2,000|726|15,446|
|Total Income and|endowments||1,151,707|50,649|189,120|79,524|1,471,000|
|Expenditure
on||||||||
|Expenditure
on|raising funds||133,792|5,884|21,967||161,643|
|Expenditure
on|Charitable|activities|1,057,596|46,510|173,647||1,277,753|
|Total Expenditure|||1,191,388|52,394|195,614||1,439,396|
||||(39,681)|(1,745)|(6,494)|79,524|31,604|
|Net Gains/(losses)|on investments||4,936,397|217,089|810,506|513,470|6,477,462|
|Net Income I Expenditure|||4,896,716|215,344|804,012|592,994|6,509,066|
|Transfers
between|funds||39,681|1,745|6,494|(47,920)||
|Net Movement
of|Funds||4,936,397|217,089|810,506|545,074|6,509,066|
|Total Funds Brought Forward|||30,690,661|1,348,222|5,038,441|3,746,728|40,824,052|
|Total Funds Carried Forward|||35,627,058|1,565,311|5,848,947|4,291,802|47,333,118|
##
##
|31stD|ecember 2020|||||||
|---|---|---|---|---|---|---|---|
||||Note||2020||2019|
||||||||F|
|Fixed Assets||||||||
||Investments
and cash|held by the||||||
||Common
Investment
Fund||10||44,310,617||43,041,316|
|Current|Assets|||||||
||Debtors & prepayments|due within one year|11|258||130||
||Debtors due after more than one year||11|93,800||96,600||
||Investments||12|3,962,630||3,154,936||
||Cash at Bank|||336,215||1,086,794||
|||||4,392,903||4,338,460||
|Current|Liabilities|||||||
||Creditors
&accruals due in|||||||
||less than one year||13|48,112||46,658||
|Reserve Fund I Net Current Assets|||||4,344,791||4,291,802|
|Total Assets less Current
liabilities|||||48,655,408||47,333,118|
|Funds|ofthe Charity:|||||||
||Restricted Funds:|||||||
||Permanent
Endowed|Funds|16||36,677,658||35,627,058|
||Legacies Fund||16||1,611,514||1,565,311|
||Unrestricted
Funds:|||||||
||General
Fund||16||6,021,445||5,848,947|
||Reserve Fund||15||4,344,791||4,291,802|
|Total Charity Funds|||||48,655,408||47,333,118|
|The Liverpool
Merchants'
Guild||||||||Page 12|
|---|---|---|---|---|---|---|---|---|
|Statement ofCash Flows|||||||||
|Year ended 31stDecember 2020|||||||||
||||||||2020|2019|
|Reconciliation
ofnet income to net cash||flow from operating||||activities|||
|Net income/(expenditure)
for the reporting|||period (as|per|the|statement|||
|offinancial activities)|||||||1,322,290|6,509,066|
|Adjustments
for:|||||||||
|Net (gains)
/ losses on investments|||||||(1,602,728)|(6,477,462)|
|Dividends,
interest from investments|||||||(1,207,505)|(1,470,979)|
|Decrease
in debtors|||||||2,672|16,902|
|Increase
/ (Decrease) in creditors|||||||1,454|(16,419)|
|Net cash provided
by (used by) operating||activities|||||~1,483,837|~4,438,892|
|Statement ofCash Flows|||||||||
|Cash Flows from Operating
Activities:|||||||||
|Net cash provided
by (used by) operating||activities|||||~1483817
,|.~1,438,892|
|Cash Flows from investing
Activities:|||||||||
|Dividends,
interest from investments|||||||1,207,505|1,470,979|
|Proceeds from sale of investments|||||||7,546,133|4,318,434|
|Purchase
of investments|||||||(8,191,802)|(3,834,274)|
|Net cash provided
by (used by) investing||activities|||||561,836|1,955,139|
|Change
in cash and cash equivalents|in the the reporting||||period||(921,981)|516,247|
|Cash and cash equivalents
at the beginning|||ofthe reporting|||period|2,065,887|1,549,640|
|Cash and cash equivalents
at the end|of|the reporting||period|||1,143,906|2,065,887|
|Made up as to:|||||||||
|Reserve Fund - Current Assets - Cash|at|bank|||||336,215|1,086,794|
|Common
Investment
Fund - Fixed Assets||-|Cash Deposits||||807,691|979,093|
||||||||1,143,906|2,065,887|
##
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##
##
##
|3|Donations|and Legacies|and Legacies|||2020
6|2019
f|
|---|---|---|---|---|---|---|---|
||Legacies - see page 5 for|||details||||
||Donations - see page 5||for||details|||
|4|Expenditure|on Raising||funds||2020
f|2019
6|
||Investment|Management||fees||156,912|161,643|
|||||||156,912|161,643|
|5|Expenditure|on Charitable|||activities|2020|2019|
||||||||6|
||Pensions|||||1,107,163|1,014,475|
||Grants|||||107,313|143,833|
||Auditors'
remuneration|||||4,656|4,482|
||Secretaries|fees||||108,000|108,000|
||Legal Costs||||||2,550|
||Postage and stationery||and||web design|3,920|4,413|
|||||||1,331,052|1,277,753|
##
##
##
##
##
|ofthe other fund|s and is m|ade|up as follo|ws:||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Note|Restricted|Funds|Unrestricted|Funds||
||||||Endowed|Legacies|General|Reserve|Total|
||||||Funds|Fund|Fund|Fund|Funds|
||||||||6||6|
|Subscriptions|||||||21||21|
|UK Investment|Income||||750,147|32,989|123,167||906,303|
|Non UK Investment
Income|||||167,764|7,378|27,545||202,687|
|Deposit Interest|||||27,885|1,226|4,578||33,689|
||||||945,796|41,593|155,311||1,142,700|
|Expenditure
on|raising funds||||129,876|5,712|21,324||156,912|
|Expenditure
on|charitable|acitvities|||1,101,712|48,450|180,890||1,331,052|
||||||1,231,588|54,162|202,214||1,487,964|
|Net deficit before gains and losses, to be||||transferred|285,792|12,569|46,903|(345,264)||
|Fixed Assets||||||||||
|investments||||||||||
|Common
investment
Fund||||||In UK|Outside
UK|Total|2019|
|||||||||2020||
||||||||8|F||
|Market Value 1st January||2020||||29,615,798|12,446,425|42,062,223|36,245,852|
|Acquisitions||||||3,009,361|3,982,125|6,991,486|3,550,024|
|Disposals||||||(3,720,726)|(3,099,358)|(6,820,084)|(3,697,645)|
|Realised Gains|/ (losses)|||||291,118|228,413|519,531|519,531|
|Unrealised
gains/( losses)||on|revaluation|of Investments||(1,132,125)|1,881,895|749,770|5,444,461|
|Market Value 31st December|||2020|||28,063,426|15,439,500|43,502,926|42,062,223|
|Cost at 31st December 2020||||||16,378,678|10,691,154|27,069,832|26,501,360|
|Investment
Cash Deposits||||||||||
|Cash at Bank||||||807,691||807,691|979,093|
|Total Common|Investment||Fund Investments|||28,871,117|15,439,500|44,310,617|43,041,316|
##
##
|ear|ended 31stDec||m|ber 2020|||||
|---|---|---|---|---|---|---|---|---|
||||||Value||Value|0/|
|10|Fixed Assets (cont)||||31.12.2020||31.12.2019||
||UK Investments||||6||||
||Fixed Income||||417,339|1.49|1,553,099|5.24|
||Banks||||1,326,608|4.73|1,557,532|5.26|
||Beverages||||1,162,712|4.14|1,293,002|4.37|
||Food and Drug Retailers||||532,220|1.90|1,005,112|3.39|
||Food Producers
and||Processors||888,282|3.17|879,889|2.97|
||General
Finacial||||665,112|2.37|450,680|1.52|
||Global Investments||||4,518,964|16.10|3,705,549|12.51|
||Health||||679,500|2.42|824,625|2.78|
||Household
Goods||||619,200|2.21|580,110|1.96|
||Infrastructure
Funds||||1,931,256|6.88|1,909,153|6.45|
||Investment
Trusts||||1,396,663|4.98|1,536,200|5.19|
||Life Assurance||||1,285,280|4.58|1,423,380|4.81|
||Media and Photography||||1,811,250|6.45|1,305,025|4.41|
||Mining||||2,220,659|7.91|2,089,582|7.06|
||Oil and Gas||||2,215,181|7.89|2,618,693|8.84|
||Pharmaceuticals||||1,397,857|4.98|1,651,260|5.58|
||Private Equity Stock||||532,443|1.90|475,888|1.61|
||Real Estate Holding||and Development||409,122|1.46|565,686|1.91|
||Software 8Computer|||Services|414,520|1.48|831,773||
||Support Services||||1,692,158|6.03|1,268,717|4.28|
||Telecommunication||Services||312,233|1.11|378,893|1.28|
||Tobacco||||582,220|2.07|613,985|2.07|
||UK Investment
Grade|||Bonds|408,222|1.45|394,461|1.33|
||Water &Gas||||644,425|2.30|703,504|5.18|
||||||28,063,426|100.00|29,615,798|100.00|
||Investments
outside|||the UK|||||
||Asia||||1,663,147|10.77|1,883,527|15.13|
||Europe Investment|Trusts|||1,967,350|12.74|2,242,410|18.02|
||Japanese||||1,886,685|12.22|1,726,121|13.87|
||Overseas
High Yield||Bonds||||||
||US Shares||||9,663,300|62.59|6,279,157|50.45|
||Emerging
markets||||259,018|1.68|315,210|2.53|
||||||15,439,500|100.00|12,446,425|100.00|
||Total Quoted Investments||||43,502,926||42,062,223||
##
|11|Debtors|||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||||8|8|
||Due within one year||Income tax|recoverable||||||
||||Other debtors|||||258|130|
|||||||||258|130|
||Due after more than||Secured loans||to|beneficiaries||72,947|72,947|
||one year||Unsecured|loans||to beneficiaries||20,853|23,653|
|||||||||93,800|96,600|
||Loans to beneficiaries||are interest-free||and have no fixed||date for repayment.|||
||As there is no certainty||as to when|loans||to beneficiaries|will be recovered,|the net present value ofthose loans||
||cannot be measured|||||||||
|12|Current Asset Investments|||||||||
||Quoted
Investments|in|UK|||||2020|2019|
||||||||||6|
||Market Value 1stJanuary 2020|||||||3,154,936|2,978,006|
||Acquisitions|||||||1,200,316|284,250|
||Disposals|||||||(726,049)|(620,789)|
||Realised gains/(losses)|||||||(20,558)|90,349|
||Unrealised
gains/( losses) on revaluation|||||of investments||353,985|423,120|
||Market Value 31st December 2020|||||||3,962,630|3,154,936|
||Cost at 31st December||2020|||||3,239,806|2,627,127|
##
|12|Current Asset Invest|ment|s|(cont)|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Value||Value|0/|
||||||||31.12.2020||31.12.2019||
||||||||||6||
||Banks||||||125,822|3.18|111,376|3.53|
||Household
Goods||||||20,280|0.51|19,000|0.60|
||Fixed Income||||||190,968|4.82|354,360|11.23|
||Investment
Trusts||||||85,217|2.15|95,980|3.04|
||Media and Photography||||||145,000|3.66|55,825|1.77|
||Water and Gas||||||32,870|0.83|35,883|1.14|
||Oil 8 Gas||||||45,100|1.14|49,518|1.57|
||Pharmaceuticals||||||242,832|6.13|294,581|9.34|
||Private Equity Stock||||||53,544|1.35|47,857|1.52|
||Software
& Computer|Services|||||47,300|1.19|100,998|3.20|
||Support Services||||||80,619|2.03|68,145|2.16|
||Telecommunications|Services|||||115,442|2.91|140,088|4.44|
||Europe Investment
Trusts||||||453,883|11.45|357,648|11.34|
||US Shares||||||1,627,355|41.07|763,047|24.19|
||Japanese||||||437,380|11.04|345,420|10.95|
||Emerging
Markets||||||259,018|6.54|315,210|9.99|
||||||||3,962,630|100.00|3,154,936|100.00|
||Creditors
-amounts|due|within one year|||||2020||2019|
|||||||||6||6|
||Accruals|||||||48,112||46,658|
|||||||||48,112||46,658|
|14|Capital Funds||||||||||
||Balance 1stJanuary|2020||||||43,041,316||37,077,324|
||Net (outgoing)
/ incoming||resources for the year|||||(345,264)||(47,920)|
||Transfer from
/ (to) Reserve Fund|||||||345,264||47,920|
||Realised investment|gains||/ (losses)||||(4,919)||519,531|
||Unrealised
gains
/ (losses)|||on revaluation||of investments||749,770||5,444,461|
||Balance 31st December||2020|||||43,786,167||43,041,316|
|15|Reserve Fund||||||||||
|||||||||||6|
||Balance 1stJanuary|2020||||||4,291,802||3,746,728|
||Net incoming
resources for the year|||||||64,826||79,525|
||Transfer (to) / from Capital|||Funds||||(345,264)||(47,920)|
||Realised gains
/ (losses) on disposal||||of|investments||(20,558)||90,349|
||Unrealised
gains
/ (losses)|||on revaluation||of investments||353,985||423,120|
||Balance 31st December||2020|||||4,344,791||4,291,802|
##
##
|16|Capital Funds|||||
|---|---|---|---|---|---|
|||||2020|2019|
|||||6|F|
||Restricted
Funds|||||
||Permanent
Endowed||Fund|36,677,658|35,627,058|
||Legacies Fund|||1,611,514|1,565,311|
||Unrestricted|Funds||||
||General
Fund|||6,021,445|5,848,947|
||Total Capital|Funds||44,310,617|43,041,316|
##
##
##
##
||There are||no other relat|ed
party transactio|n|s.||||
|---|---|---|---|---|---|---|---|---|---|
|20|Financial||instruments|||||2020|2019|
||Carrying|amount offinancial assets||||||||
||Debt instruments
measured
at amortised||||cost|||||
||||Debtors|||||93,800|96,600|
||||Cash held|||||1,143,906|2,065,887|
|||||||||1,237,706|2,162,487|
||Instruments||measured|at fair value through||SOFA||||
||||Investments|held by Reserve||Fund||3,962,630|3,154,936|
||||Investments|held by Common||Investment|Fund|43,502,926|42,062,223|
|||||||||47,465,556|45,217,159|