2021-12-31-accounts

	Note	Restricted	Funds	Unrestricted	Unrestricted	Funds		2020
		Endowed	Legacies	Seneral		Reserve	Total
		Funds	Fund	Fund		Fund	Funds
		6		6		2	6	8
income snd endowments from
Donations and legades
Subscrlptlons				19			19	21
Income from Investms rds
Ult Investment buarrre		959.397	42.192	167523		39,I25	l,l98,237	9442I7
Non UK Investment Income		190,384	8,373	31,259		35,231	266,247	229,173
Deposit Interest		46,209	1,988	7,423		11	54,631	34,115
'I'otal Income and endowments		1,194,990	52,553	't96,224		74,387	1,818,134	1 207,528
Expenditure on
Expendlbse on raising funds	4	155,143	6,823	25,473			187,439	156,912
Expenditure on Charitable acbviea	6	1,094,399	48,161	179,772			1,322,822	1,331,052
Total Expenditure		1,250,042	54,91'4	205,245			1,510,281	1487,964
		(55,052)	(2,421)	(9,021)		74,367	7,873	(280,438)
Net Galrts/(losses) on Investmenta	10tt 12	4,959,468	218,104	814,293		62'l,172	6,613,027	1,602,728
Net Income I(Expenditure)		4,904,406	216,683	806,272		895,539	6,820,900	1,322290
Transfer ofSpecial Dividends
Transfers betweenfunda			2,421	9,021		(66,494)
Net Movement ofFunds		4,959,458	218,104	814r293		829,045	8,820,900	1,322,290
Total Funds Brought Forward		36,677,658	1,611,514	8,021,445	4,344,791		48,855,408	47,333,118
Total Funds Carried Forward		41,637,'l18	1,829,618	8,836,736	+973,836		55,278,308	48,655,408

the Year ended 3	1stOece	mber 2020
			Restricted	Funds	Unrestricted	Funds
			Endowed	Legacies	General	Reserve	Total
			Funds	Fund	Fund	Fund	2020
			6	6	6	6	6
Income and endowments from
Donations and legacies
Subscrlptlons					21		21
Income from Investments
UK Investment	Income		750,147	32,989	123,167	37,014	044,217
Non UK Investment Income			167,764	7,378	27,545	26,486	229,173
Deposit Interest			27,885	1,226	4,578	426	34,115
Total Income and	endowments		946,796	41,593	1SS,311	64,826	1,207,626
Expenditure on
Expenditure on	raising funds		129,876	5,712	21,324		166,912
Expenditure on	Charitable	activities	1,101,712	48,450	180,890		1,331,052
Total Expenditure			1,231,5S8	64,162	202,214		1,487,964
			(285,792)	(12,669)	(46,903)	64,826	(280,438)
Net Gains((losses)	on Investments		1,050,800	48,203	172,498	333,427	1,602,728
Net Income IExpenditure			764,808	33,634	126,695	398,263	1,322,290
Transfers between	funds		286,792	12,569	46,903	(345,264)
Net Movement of	Funds		1,050,600	48,203	1?2,498	52,989	1,322,2SO
Total Funds Brought Forward			35,627,068	1,665,311	5,848,947	4,291,802	47,333,118
Total Funds Carried Forward			36,677,858	1,811,514	6,021,446	4,344,791	48,866,408

The Liverpool Merchants' Guild								Page 13
Statement ofCash Flows
Year ended 31st December 2021
							2021	2020
Reoonciliatlon ofnet income to net cash flow from operating						acgvltles
Net Income for the reporgng period (es per the statement					of	financial
activities)							6,620,900	1,322,290
Adjustments for:
Nst (gains) on investments							(6,613,027)	(1,802,728)
Dividends, Interest from Investments							(1,618,116)	(1,207,506)
Decrease in debtors							8,842	2,672
increase In creditors							13,664	1,454
Net cash provided (used by) operating	activities						~4487736	~4.483847
Statement ofCash Flows
Cash Flows from Operating Activities:
Net cash provided (used by) operating	activities						~1,487736	~4483817
Cash Flows from investing Activities:
Dividends, Interest from investments							1,518,115	1,207,606
Proceeds from sais ofinvestments							6,624,629	7,546,133
Purchase ofinvestments							(4,298,683)	(8,191,802)
Net cash provided by (used by) Investing		activities					3844.181	661836
Change in cash and cash equivalents	in	the the reporting			period		2,356,425	(921,981)
Cash and cash equivalents at the beginning			ofthe reporting			period	1,143,906	2,085,887
Cash snd cash equivalents at the end	ofthe		reporting	period			3,600.331	1,143,906
hllade up as to:
Reserve Fund - Current Assets - Cash	at	bank					685,662	338,215
Common Investment Fund - Fixed Assets		- Cash Deposits					2,814,679	807,691
							3,600,331	1,143,906

				Note	Restricted	Funds	Unrestrtcted	Funds
					Endowed	Legacies	General	Reserve	Total
					Funds	Fund	Fund	Fund	Funds
					5	8	8	8
Subscrlptlons							19		19
UK Investment	Income				%9,397	42,192	157,523		1,159,112
Non UK Investment Income					190,384	8,373	31,259		230,016
Deposit Interest					45,209	1,988	7,423		54,620
					1,194,990	52,553	198,224		1,443,767
Expenditure on	raising funds				155,143	6,823	25,473		187,439
Expenditure on	charitable	acitvltles			1,094,899	48,161	'l79,772		1,322,822
					1,250,042	54,974	205,245		1,610,261
Net deficit before gains snd tosses, to be				transferred	55,052		9,021	(66,494
Fixed Aseste
Investments
Common Investment Fund						In UK	Outside UK	Total	2020
								2021
							8
Market Value 1slJanuary		2021				28,063,426	15,439,500	43,602,926	42,062223
Acquisltlons						1,885,641	1,743,213	3,628,854	6,991,486
Dlsposals						(3,743,172)	(1,892,870)	(5,635,842)	(6,820,084)
Realised Gains	/ (losses)					269,836	173,M6	443,421	619,531
Unrsallsed gains/( losses)		on	revaluation	of Investments		3,479,516	2,068,919	5,548,434	749,770
Market Value 31stDecember			2021			29,965,246	17,532,547	47,487,793	43,502,926
Cost at 31stDecember 2021						20,921,241	11,363,714	32,274,956	27,089,832
Investment Cash Deposits
Cash at Bank						2,814,679		2,814,679	807,691
Total Common	Invsstmsnt		Fund Investments			32769925	17&532547	50j302&472	44&310 6'l7

ea	r ended 31stDe	cember 2021
			Value		Value
10	Fixed Assets (cont}		31,12,2021		31.12.2020
	UK Investments		8		6
	Fixed Income		404,429	1.36	417,339	1.49
	Banks		'l,706,920	5.70	1,328,808	4.73
	Beverages		'I,630,544	BA4	I, I62,712	4rl4
	Food and Drug Retailers		1,924,642	6.43	2,039,702	7,27
	General Financial		870,320	2.24	665,112	2.37
	General Industries		577,000	1.93	488,600	1.74
	Global Investments		4,010,282	1639	4,518,984	IB.ID
	Health				679,500	2.42
	Infrastructure Funds		2,523,280	8.42	1,931,256	6.88
	Investment Trusts		1,033,725	3A5	1,396,863	4.98
	Life Assurance		1,327,890	4A3	1,286,280	4.58
	Media and Photography		2,361,220	7.88	1,811,250	6,45
	Mining		1,357,628	4.53	2,220,659	7.91
	Oil and Gas		2,861,574	9.65	2,216,181	7.89
	PharmaceuOcals		1,804,084	6.02	1,397,857	4.98
	Precious Metals		603,200	2.01
	Private Equity Stock		626,241	2.09	632,443	1.90
	Real Estate Holding	and Development			409,122	1.46
	Software &Computer Services		'l68,055	0.66	414,520	1AS
	Support Services		1,712,701	5.72	1,203,568	429
	Telecommunication	Services	2S9,824	0.97	312,233	1,11
	Tobacco		687,703	1.96	582,220	2.07
	UK Investment Grade Bonds		384,433	1.28	408,222	1A6
	Water &Gas		789,551	2.65	644,425	2.31
			29,965,246	100.00	28,083,426	100.0D
	Investments outside the UK
	Asia		1,688,131	9.62	1,663,147	10,77
	Europe Investment	Trusts	2,315,119	13.20	1,987,360	12.74
	Japanese		1,986,991	11.22	1,886,685	'l2.22
	USShares		11,564,306	65.96	9,863,300	62,59
	Emerging markets				269,018	1.68
			17,532,647	100.00	16,439,5DD	100.00
	Total Quoted Investments		47,487,793		43&02,928

Debtors			2021	2020
			5	f
Due within one year	Other debtors		307	258
			307	000
Dus after more than	Secured loans to beneficiaries		66,228	72,947
ons year	Unsecured	loans to beneficiaries	18,681	20,853
			04,009	03,000

Quoted Investments In UK		202'I		2020
Market Value 1stJanuary 2021		3,962,630		3,154,936
Acqulsl0ons		669,729		1,200,316
Dlsposals		(988,787)		(726,049)
Realised gains/(losses)		93,667		(20,558)
Unrsallssd galnson revaluation	ofinvestments	527,505		353,985
Market Value 31st December	2021	4,264,744		3,9623630
Cost at 31stDecember 2021		BII70700	,	, 3330,000

12	Current Asset investments						(cont)
								Value		Value
								31.12.2021		31,12,2020
								f		f
	Banks							162,437	3.81	126,822	3.18
	Household Goods							19,660	0.46	20,280	0.51
	Fixed Income							186,OBO	4.34	190,968	4.82
	General Industries							96,205	2.23	80,619	2.03
	Infrastructure Funds							51,926	1.22
	Investment Trusts							44,303	1.04	85,217	2.16
	Media and Photography							183,860	4.31	146,OOO	3.66
	Water and Gas							40,272	0.94	32,670	0.83
	Oil &Gas							68,499	1.37	45,100	1.14
	Pharmaceutlcals							296,606	8.95	242,832	8.13
	Private Equity Stock							62,977	1.48	53,644	1.36
	Software & Computer			Services				63,021	1.48	47,300	1,19
	Support Services							44,260	1.04
	Telecommunications		Services					107,167	2.51	116,442	2,91
	Europe Investmsnt	Trusts						304,093	7.13	463,883	11.45
	USShares							2,084,796	48.88	1,827,355	41.0/
	Japanese							460,720	10.80	437,380	11.04
	Emerging Markets									269,018	6.54
								4,264,744	100.00	3,962,630	100.00
13	Creditors - amounts		dus			within one year			2021		2020
	Accruals								61,776 61776,		48,112 46,112
14	Capital Funds
											f
	Balance 1stJanuary		2021						43,788,167		43,041,316
	Net (outgoing) / incoming					resources for ths year			(68,494)		(346,264)
	Transfer from Reserve			Fund					66,494		346,284
	Realised investment		gains			/ (losses)			443,421		(4,919)
	Unrealfssd gains on	revaluation					of invsstm ants		5,648,434		749,770
	Balance 31stDecember					2021			49,778,222		43,786,167
15	Reserve Fund
									f		f
	Balance 1stJanuary		2021						4,344,791		4,291,802
	Nst Incoming resources			for the			year		74,387		64,826
	Transfer (to) from Capital					I unde			(60,494)		(345204)
	Realised gains/(losses)				on disposal ofinvsstmenls				93,687		(20,668)
	Unreal ised gains on	revaluation					of investments		527,605		353,985
	Balance 31stDecember				2021				4,972,8114		4844791

Ye	ar ended 31stDe	cember 202'I
16	Capital Funds
			2021	2020
				8
	Restrloted Funds
	Permanent Endowed	Fund	41,637,116	36,677,668
	Legacies Fund		'i,829,618	1,611,614
	Unrestricted Funds
	General Fund		6,836,738	6,021,446
	Total Capital Funds		60,302,472	44 313417

There are	no other relat	ed parly transaction	s.
Financial	instruments				2021	2020
Canylng amount offlnsndal assets
Debt Instruments measured at amorflsed cost
	Debtors				84,909	93,800
	Cash held				3,600,331	1,143,906
					5, 55515	5557M
Instnunents	measured	at fair value through	SOFA
	Investments	held by Reserve	Fund		4367L744	3.982,630
	Invesbnsnts	held by Common	Investment	Fund	47.487,793	43,502,926
					51,75,	.555575
carrying amount offinanrxal llablfltiss
Measured	et amorflsed	cost
	Accrusls				. 7	55,1