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|---|---|---|---|
|Legal and|administrative|details||
|Trustees'|annual report|||
||||2 —4|
|Statement|ofTrustees'|responsibilities||
|Independent
examiner's||report||
|Statement|offinancial activities|||
|Statement|offinancial position|||
|Notes||||
||||9 —15|
|Registered|Charity Number:|207151||||||
|---|---|---|---|---|---|---|---|
|Legal status||The Benevolent||Fund|was established||by|
|||a trust deed dated 2 July 1951||||||
|Trustees:||RA Pilkington||||||
|||D C Daly||||||
|||SirTH M|SPilkington|||||
|Chief Executive Officer:||DJHoare||||||
|Address:||32Judges|Drive|||||
|||Liverpool||||||
|||L6 7UB||||||
|Independent|Examiner:|RSM UK|Tax and Accounting|||Limited||
|||Chartered|Accountants|||||
|||14"Floor||||||
|||20 Chapel|Street|||||
|||Liverpool||||||
|||L3 9AG||||||
|Investment|Advisors:|Evelyn||||||
|||Royal Liver Building||||||
|||Pier Head||||||
|||Liverpool||||||
|||L3 1NY||||||
|Bankers:||National
Westminster|||Bank pic|||
|||2 —g Church Street||||||
|||Liverpool||||||
|||Ll 3BG||||||
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|||||||||||Unrestricted|Endowment|Year to|Year to|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Note|Funds|Funds|31December|31December|
|||||||||||2021|2021|2021|2020|
|Income||||||||||||||
|Investment
income
Other income||||||||||46,970
(2,121)||46,970
(2,121)|43,334
442|
|Total income||||||||||44,849||44,849|43,776|
|Expenditure||||||||||||||
|Cost ofraising||funds||||||||||||
|Investment
management|||||costs|||||9,864|8,402|18,266|16,383|
|Expenditure
on||Charitable|||activities||||3,5|98,881||98,881|107,711|
|Total expenditure||||||||||108,745|8,402|117,147|124,094|
|Net expenditure|||and|net|movements|||in||||||
|funds before||||||||||||||
|gains and (tosses) on||||investments||||||(63,896)|(8,402)|(72,298)|(80,318)|
|Net gain/(loss)|on||investment|||assets|||6|123,519|128,950|252,469|(38,326)|
|Net movement||in|funds|||||||59,623|120,548|180,171|(118,644)|
|Reconciliation|of||funds|||||||||||
|Fund balances|brought|||forward|||I January|||1,537,182|868,448|2,405,630|2,524,274|
|Fund balances||carried forward|||||31|||||||
|December||||||||||1,596,805|988,996|2,585,801|2,405,630|
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|||||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2021|2020|
||||||||K|
|Listed|investment|income|- dividends|46,970||46,970|43,334|
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|||||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||Note|Funds|Funds|2021|2020|
|Direct expenditure:||||||||
|Payments|to|former employees||20,371||20,371|31,346|
|Payments|to|widows of||||||
|former employees||||9,519||9,519|20,300|
|Nautilus|Welfare donation|||9,090||9,090||
|||||38,980||38,980|51,646|
|Support|costs||5|55,521||55,521|55,085|
|Governance||costs|5|4,380||4,380|980|
|||||98,881||98,881|107,711|
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|4|Investment|Management|Management|Management|Costs|Costs|||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Endowment|Total|Total|
||||||||Funds|Funds|funds|funds|
||||||||||2021|2020|
||||||||g|g||g|
||Management|Costs|2021||||9,864|8,402|18,266||
||Management|Costs|2020||||9,123|7,260||16,383|
|5|Allocation ofsupport|||&governance|||costs||||
||||||||||Total|Total|
||||||||Charitable||2021|2020|
||||||||activities|Governance|||
||||||||g||||
||Salaries and pension||||||44,095||44,095|43,966|
||Independent|examination||||||4,380|4,380|980|
||Legal and professional|||fees|||35||35|35|
||Trustees liability
insurance||||||2,426||2,426|1,522|
||Postage, stationery,||telephone,|||travel,|||||
||computer
and rent||||||8,874||8,874|9,435|
||Bank charges||||||91||91|127|
||||||||55,521|4,380|59,901|56,065|
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|---|---|---|---|
|Staff costs||2021|2020|
|Wages and|Salaries|31,959|31,500|
|Employers|Social Security Costs|3,192|3,142|
|Other Pension Costs||5,912|5,912|
|Health Insurance||3,032|3,412|
|||44,095|43,966|
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||Independent
Examiners|remuneration|remuneration||||||
|---|---|---|---|---|---|---|---|---|
|||||||2021||2020|
||Independent
Examiners||services|||4,380||980|
||Taxation Services||||||||
|||||||4,380||980|
|6|Net (losses)/gains|on|investment|assets|||||
||||||Unrestricted|Endowment|Total|Total|
||||||Funds|Funds|funds|funds|
||||||||2021|2020|
||Net realised/unrealised||gains 2021||123,519|128,950|252,469||
||Net realised/unrealised||(losses) 2020||(32,804)|(5,522)||(38,326)|
|7|Investments||||||||
||||||||2021|2020|
||Quoted investments||||||||
||Opening
market value at 1 January
Additions
at cost||||||2,200,742
948,266|2,243,133
744,450|
||Disposal proceeds||||||(1,063,399)|(748,515)|
||Net realised/unrealised||gains/(losses)||||252,469|(38,326)|
||Market value at|31December|||||2,338,078|2,200,742|
||Historic cost||||||1,939,695|1,861,814|
||Quoted Investments|at market value||comprised:|||||
||||||||2021|2020|
||UK Fixed Interest|Securities|||||126,809|160,117|
||UK Equities
Overseas Equities
Overseas Fixed Interest||||||739,244
954,161
90,613|678,870
735,609
136,658|
||Commodities||||||58,726|60,464|
||Hedge Funds
Property||||||60,302
112,444|207,339
221,685|
||Other||||||195,779||
||||||||2 338078|2 200 742|
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||||Movement|in resources:||Balance ai|
|---|---|---|---|---|---|---|
|||Balance at||||31 Decemb|
|||1January
2021
g|Incoming
g|Expenditure|Gain/(Loss)
g|2021
g|
|Permanent
Capital Fund|endowment|868,448||(8,402)|128,950|988,996|
|Unrestricted|Fund|1,537,182|44,849|(i08 745)|123,519|1,596,805|
|||2,405,630|44,849|(117,147)|252,469|2,585,801|
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||||Movement|in resources:|||
|---|---|---|---|---|---|---|
||Balance at|||||Balance at|
||1January|||||31December|
|||2020|Incoming|Expenditure|Gain/(Loss)|2020|
||||K|||K|
|Permanent|endowment||||||
|Capital Fund||881,230||(7,260)|(5,522)|868,448|
|Unrestricted|Fund|1,643,044|43,776|(116,834)|(32,804)|1,537,182|
||2,524,274||43,776|(124,094)|(38,326)|2,405,630|
|nalysis ofnet assets between||funds|||||
|||||Net|||
|||||Current|||
||||Investments|Assets|Total|Total|
||||||2021|2020|
|Endowment|Funds||1,108,946|(119,950)|988,996|868,448|
|Unrestricted|Funds||1,229,132|367,673|1,596,805|1,537,182|
||||2,338,078|247,723|2,585,801|2,405,630|
|||||Net|||
|||||Current|||
||||Investments|Assets|Total|Total|
||||||2020|2019|
|Endowment|Funds||982,100|(113,652)|868,448|881,230|
|Unrestricted|Funds||1,218,642|318,540|1,537,182|1,643,044|
||||2,200,742|204,888|2,405,630|2,524,274|
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