## **THE EMMOTT FOUNDATION LIMITED** ## **ANNUAL ACCOUNTS AND TRUSTEES' REPORT** **FOR THE YEAR ENDED 31 AUGUST 2020** **REGISTERED CHARITY NO: 209033 REGISTERED COMPANY NO: 00710369** ## **THE EMMOTT FOUNDATION LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Council's Report|1 - 4| |Auditor's Report|5 - 7| |Statement of Financial Activities|8| |Balance sheet|9| |Cash Flow Statement|10| |Notes to the Financial Statements|11 - 15| |Investment Schedule|16 - 22| ## **THE EMMOTT FOUNDATION LIMITED REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 AUGUST 2020** ## **Reference and administrative information** ## **The Council** Mr C R Dick Mrs D J Forbes (Resigned 29 June 2020) Mr T E P Stevenson Mrs S J Ainsworth Mr E D A Barnes Mrs E E A Mckendrick Mrs D Coggan (appointed 2 March 2020) The Articles of Association dated 12 December 1961 established a Council of Management. All the members of Council are Trustees of the Charity and are also Directors of the Company. ## **Web Address** www.emmottfoundation.org ## **Registered Office** 10 Queen Street Place, London, EC4R 1AG ## **Charity Number: 209033** ## **Company Number: 00710369** ## **Education Officers** Mr & Mrs P Spillane ## **Auditors** Williamson Morton Thornton LLP, Verulam Point, Station Way, St Albans, Hertfordshire AL1 5HE ## **Bankers** Child & Co, 1 Fleet Street, London, EC4Y 1BD ## **Administration & Accountancy** Haysmacintyre LLP, 10 Queen Street Place, London, EC4R 1AG ## **Investment Managers** UBS Wealth Management (UK) Ltd, 1 Curzon Street, London, W1J 5UB ## **Report of the Council for the year ended 31 August 2020** The Council present their report and accounts for the year ended 31 August 20 20 . The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document (The Memorandum and Articles of Association dated 12 December 1961), the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Second Edition). The report of the Council also serves as a Directors' Report as required by S417 of the Companies Act 2006. ## **Structure, governance and management** The Charity is a Company limited by guarantee and is governed by its Memorandum and Articles of Association dated 12 December 1961. New Council members are appointed by the Council of Management based on recommendations made by the existing Council members. When new members join the Council they are provided with further information regarding finances governance and charitable objectives. The Memorandum and Articles of Association provides for a minimum of 3 and a maximum of 11 members of Council. The Charity is governed by the Council of Management who meet twice a year in Spring and again in Summer. The Council agrees the broad strategy and areas of activity for the Foundation, including consideration of grants, investment, reserves and risk management polices and performance. There is a further 'paper' meeting in November when residual grant items for the current academic year are reviewed and determined. - 1 - **THE EMMOTT FOUNDATION LIMITED REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 AUGUST 2020** ## **Structure, governance and management (con't)** The day to day business of the Charity is in the hands of the Education Officers. Their functions include handling all grant enquires, visiting families where there is a prima facie case for a grant, liaising with other charities and presenting applications falling within the grant criteria to the trustees for their consideration. The Education Officers also run the lowkey appeal which currently targets former grant holders. ## **Risk Management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operation and finances of the Charity, and are satisfied that systems are in place to mitigate exposure to the major risks. The Trustees consider that the key risks relate to the Charity's banking and investment operations both of which are carried out on behalf of the Charity by independent regulated entities. In addition, the Trustees perform their own checks in these areas. ## **Objective and Activities** The objective of the Charity is to make grants for educational purposes. The Council has had due regard to the guidance from the Charity Commission on public benefit in deciding what activities the Charity should undertake. Accordingly grants are primarily intended for children whose parents or guardians can no longer meet their considered financial commitments for education in either state or independent sixth forms as a result of a family crisis such as death, severe illness, accident, divorce, desertion , loss of employment , domestic violence and bullying. Consequently support is often given to children of families where the household income is very low. Consideration will also be given to cases where there is a major educational or pastoral problem, including the impact of parental drug and/or alcohol abuse. The present policy of the Council is to make grants direct to schools to assist towards sixth form fees for students, normally with high academic standards, capable of qualifying for entry to University. Grants are normally only considered if the school is also willing to make a significant contribution towards the cost of the school fees. ## **Grant making policy** The Foundation receives a number of enquires for grants which are dealt with by the Education Officers who then send out standard application forms to those enquiries which fall within the Foundation's objectives. The Education Officers or their equivalent from similar charities then usually visit the applicant once the application form is received and the case is then prepared to the Council members for their consideration. ## **Achievements and Performance** The Charity each year receives more grant applications than it is able to fund, but the Council is pleased to assist as many students falling within its grant criteria as is possible. The Education Officers receive progress reports from schools after grants have been in place for five months and final reports are obtained once A level results are known. In both cases a summary, in tabular form, is presented to Council. In the academic year 2019/20 the Foundation assisted 86 pupils. Of these, 42 were in the Upper Sixth. In their A levels, 89% were grade C or above and 41% were A or A*. ## **Financial Review** Grants made during the year amounted to £ 332,036 (201 9 : £3 74 , 070 ). The net increase in resources for the year amounted to £ 79,828 (201 9 : £ 67,676 ). Losses on investments for the year amounted to £ 1,681,849 (201 9 : £ 417,680 ). The council is satisfied with the net financial position at 31 August 20 20 of £ 9,234,080 (201 9 : £1 0 , 836,101 ). The Charity received donations of £85,760 (2019: £88,860) as set out in note 5 to the accounts. ## **Plans for the future** The Foundation is managed with a view to it being able to continue its activities for the future. ## **Key Management Personnel** The Trustees consider the board of trustees and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All trustees give of their time freely and no trustee received remuneration in the year. Details of trustees expenses and related party transactions are disclosed in note 9 to the accounts. - 2 - **THE EMMOTT FOUNDATION LIMITED REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 AUGUST 2020** ## **Public Benefit** The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidence published by the commsion in determining the activites undertaken by the Charity. ## **Investment Policy and performance** The Council has appointed UBS Wealth Management (UK) Limited to manage the Foundation's investments and has given it discretionary powers. The Council accepts a medium degree of investment risk and has appointed an investment sub-commitee to meet with the investment managers once a year to review the investment performance. ## **Reserves Policy** The Foundation is mainly reliant on its return from investments to fund its charitable aims, and therefore has a reserves policy which aims to provide sustainable funding for the future. The Council seeks to expend at least its annual income to fulfil its charitable aims, and to maintain the real value of its funds. ## **Fundraising Activity** The charity's income is from its investment portfolio. No fundraising activity is undertaken. ## **Going Concern** The Council is of the opinion that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the Charity's ability to do so. ## **COVID-19 Impact** Dvidend income looks likely to be down by around 30% in 2021 with the reduction expected to partially increase in 2022. We will be monitoring this position carefull, together with the capital value of our funds which has declined but appears to have now stabilised. ## **Statement of Council Members' Responsibilities** Company Law requires the Council members to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the company and of the profit and loss of the company for that period. In preparing those financial statements, the Council members are required to: - select suitable accounting policies and then apply them with consistency; - observe the methods and principles in the Charities SORP - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Council members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 3 - **THE EMMOTT FOUNDATION LIMITED REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 AUGUST 2020** ## **Information to Auditors** As far as the Council members are aware, there is no relevant audit information of which the Charity’s auditors are unaware. The Council members have taken all the steps that they ought to have taken as a Council members in order to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information. This report has been prepared in accordance with part 15 of CA2006 relating to Small Companies. ## **AUDITORS** With Section 485 of the Companies Act 2006, a resolution proposing the reappointment of Williamson Morton Thornton LLP as auditors to the Company will be put to the annual general meeting. Approved by the Council at the Meeting on 29 March 20 21 and signed on its behalf by: Richard Dick Chairman of the Council - 4 - **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EMMOTT FOUNDATION LIMITED** ## **Opinion** We have audited the financial statements of The Emmott Foundation Limited (the 'charitable company') for the year ended 31 August 2020 which comprise the Statement of Financial Activities (including income and expenditure account), the balance sheet, statement of Cashflows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - . have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. ## **Other Information** The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees' report has been prepared in accordance with applicable legal requirements. - 5 - **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EMMOTT FOUNDATION LIMITED** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees' were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the trustees' responsibilities statement the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - 6 - **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE EMMOTT FOUNDATION LIMITED** ## **Auditor's responsibilities for the audit of the financial statements (con't)** We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Use of our Report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## WMT ## **Elizabeth Irvine (Senior Statutory Auditor)** For and on behalf of WMT, Chartered Accountants Statutory Auditor Verulam Point Station Way St Albans Hertfordshire AL1 5HE 07 April 2021 - 7 - ## **THE EMMOTT FOUNDATION LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure account) FOR THE YEAR ENDED 31 AUGUST 2020** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**Funds**|**Funds**| ||**Note**|**2020**|**2019**| |**INCOME FROM**||**£**|**£**| |Investments|**4**|408,484|437,180| |Donations and legacies|**5**|85,760|88,860| |**Total Income**||494,244|526,040| |**EXPENDITURE ON**|||| |Raising Funds - Investment Manager Costs||(6,218)|(8,337)| |Charitable activities|**8 & 9**|(408,198)|(450,027)| |**Total Expenditure**||(414,416)|(458,364)| |Net income before gains|||| |and losses on Investments||79,828|67,676| |Net (losses) on investments|**3**|(1,681,849)|(417,680)| |**Net (Expenditure)**||(1,602,021)|(350,004)| |**Fund Balance as at 1 September 2019**||10,836,101|11,186,105| |**Fund Balance as at 31 August 2020**||9,234,080|10,836,101| All activities relate to continuing activities. - 8 - ## **THE EMMOTT FOUNDATION LIMITED** ## **BALANCE SHEET AS AT 31 AUGUST 2020** |**Note**
**FIXED ASSETS**
Investments
**3**
Tangible Assets
**2**
**CURRENT ASSETS**
Child & Co Bank Accounts
Stockbrokers accounts
Debtors
**11**
**CREDITORS: Amounts falling due**
**Within one Year**
**10**
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**Represented by:**
**UNRESTRICTED FUNDS**|**2020**
**£**
802,818
32,445
10,000
845,263
80,833|**£**
8,469,554
96
8,469,650
764,430
9,234,080
9,234,080
9,234,080|**2019**
**£**
681,541
76,728
758,269
44,458|**£**
10,122,170
120
10,122,290
713,811
10,836,101
10,836,101
10,836,101| |---|---|---|---|---| The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. Under s454 of the Companies Act 2006, on a voluntary basis the Council can amend these financial statements if they subsequently prove defective. The financial statements were approved and authorised for issue by the council on 29 March 2021 and were signed below on its behalf by ## Tim Stevenson ......................................... ......................................... Richard Dick Tim Stevenson The notes on pages 11 to 15 form part of these financial statements. The Registered Charity No. is 209033. The Registered Company No. is 00710369 - 9 - **THE EMMOTT FOUNDATION LIMITED STATEMENT OF CASH FLOWS YEAR ENDED 31 AUGUST 2020** |||||**2020**||**2019**| |---|---|---|---|---|---|---| ||||**Note**|||| |||||**£**||**£**| |**Cash**|**used in operating activities**||**a**|(302,257)||(412,622)| |**Cashflows from investing activities**||||||| |Purchase of investments||||(5,614,566)||(4,216,308)| |Proceeds from sale of investments||||5,585,332||4,169,309| |Decrease in investment portfolio cash||||35,452||55,197| |Investment income||||408,484||437,180| |||||414,702||445,378| |**Increase in cash at bank and on deposit**||||112,445||32,756| |**Cash**|**at bank and on deposit at beginning of year**|||690,373||657,616| |**Cash**|**at bank and on deposit carried forward**|**b**||802,818||690,372| |**Note**|**to Statement of cash flows**|||||| |||||**2020**||**2019**| |||||**£**||**£**| |**a**|**Reconciliation of Net expenditure to**|||||| ||**Net Cash outflow from Operating Activities**|||||| ||Net (expenditure)|||(1,602,021)||(350,004)| ||Increase/(decrease) in creditors|||36,375||(48,703)| ||(Increase)/Decrease in Debtors|||(10,000)||5,555| ||Investment income|||(408,484)||(437,180)| ||losses on investments|||1,681,849||417,680| ||Depreciation|||24||30| |||||(302,257)||(412,622)| |**b**|**Cash and cash equivalents**|||||| ||Child & Co bank accounts|||802,818||681,541| ||Stockbroker income account|||||8,831| |||||802,818||690,372| |**c**|**Changes in net debt**|**At 1**|**September**|Cash Flows|At|31 August| ||||**£**|
**£**||£| ||Cash at bank and in hand||690,373|
112,445||802,818| - 10 - **THE EMMOTT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS** The Financial Statements have been prepared in accordance with applicable accounting standards. The particular accounting policies are described below: ## **1 ACCOUNTING POLICIES** The principal accounting policies of the Charity are as follows ## **(a) Basis of accounting** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)) (secound edition), the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Emmott Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The functional and presentational currency is sterling. The Charity is a Company limited by guarantee and is governed by its Memorandum and Articles of Association dated 12 December 1961. The registered address is 10 Queen Street Place, London, EC4R 1AG. ## **(b) Investments** - Investments are stated at the middle-market values ruling at the balance sheet date. - Income arising from these investments is accounted for when it is receivable. - Realised gains and loses are calculated on proceeds less opening market value. ## **(c) Tangible assets** Depreciation is provided to write off tangible assets over their estimated useful lives at 20% on the written down value. ## **(d) Expenditure** Support and Overhead costs have been allocated between Governance and Charitable activities on the basis of time spent and are accounted for on an accruals basis. ## **(e) Taxation** The Foundation is not liable to U.K. Taxation ## **(f) School Fees** School fees are accounted for in the Statement of Financial Activities when they are due. ## **(g) Investment Management Fees** Investment Management fees are payable when the broker commissions fall short of the guaranteed minuimum management sums due to the broker. ## **(h) Donations Received** Donations received are accounted for in the Statement of Financial Activities on a receivable basis, with grants subject to donor imposed conditions specifying the time period in which the expenditure of resources can take place treated as deferred income. ## **(i) Going Concern** The Council is of the opinion that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the Charity's ability to do so. ## **(j) Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. - 11 - **THE EMMOTT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS** ## **(k)** ## **Creditors and provisions** Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **(l)** ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **(m)** ## **Financial Instruments** The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initally recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **(n)** ## **Fund Accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. ## **(o) Material judgements and uncertainties** The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. There are no judgements made that have a significant effect on the amounts recognised in the financial statements. |**2**
**TANGIBLE ASSETS**
(Office equipment)
Cost at 1 September 2019
Additions
At 31 August 2020
Depreciation at 1 September 2019
Depreciation for the year
At 31 August 2020
Net Book Value 31 August 2020
**3**
**LISTED INVESTMENTS**
Listed Securities on U.K. Stock Exchange
Market Value as at 1 September 2019
Less: Disposals at opening market value
(proceeds £5,585,332)
Add: Acquistions at cost
Unrealised (losses) during the year to 31 August 2020
Market Value as at 31 August 2020
Historical cost as at 31 August 2020|**2020**
**£**
11,598
-
11,598
11,478
24
11,502
96
**2020**
**£**
10,122,170
(6,002,062)
5,614,566
(1,265,120)
8,469,554
9,405,168|**2019**
**£**
11,598
-
11,598
11,448
30
11,478
120
**2019**
**£**
10,492,851
(4,217,739)
4,216,308
(369,250)
10,122,170
9,612,650| |---|---|---| - 12 - **THE EMMOTT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS** ## **3 LISTED INVESTMENTS (CON'T)** Historical Unrealised (loss)/gain as at 31 August 2020 (935,614) 509,520 Individual holding exceeding 5% of the value of investments were Pimco Global Advisors Ltd UK Corp Bd Fd £475,039 (2019: Nil) Reckitt Benkiser Group Oridnary 10p £436,031 (2019 : £345,162) Vanguard Investment Series FTSE 100 £424,842 (2019 : £132,584). |**4**|**INCOME**|||**2020**|||**2019**| |---|---|---|---|---|---|---|---| |||||**£**|||**£**| ||Investment Income|||397,452||433,583|| ||Non UK Investment Income|||9,349|||1,256| ||Deposit Account Interest|||1,355|||1,799| ||Stockbroker Interest|||328|||542| |||||408,484||437,180|| |**5**|**DONATIONS RECEIVED**|||**2020**|||**2019**| |||||**£**|||**£**| ||Appeal|||760|||800| ||W O Street Foundation|||30,000|||30,000| ||Eleanor Hamilton|||55,000|||50,000| ||Bequest from P J Moncreiff|||-|||8,060| |||||85,760|||88,860| |**6**|**EDUCATION**||||||| ||**HIGHER EDUCATION**|||**2020**|||**2019**| |||||**£**|||**£**| ||Direct individual fee assistance Sixth Form|||325,436||367,470|| ||Scholarship|||6,600|||6,600| |||||332,036||374,070|| |**7**|**Allocation of Support cost**|**2020 Support**|**2020**||**2020 Total**|**2019 Total**|| ||and overheads|**Costs**|**Governance**||**Costs**|**Costs**|| ||||**Costs**||**Allocated**|**Allocated**|| |||**£**|**£**||**£**|**£**|| ||Staff Costs|27,780||3,019|30,799||31,928| ||Administration|35,162||10,177|45,339||43,999| ||Depreciation|22||2|24||30| |||62,964||13,198|76,162||75,957| - 13 - **THE EMMOTT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS** |**8**|**Analysis of Charitable expenditure**|**Grant Funded**|**Support &**|**Support &**|**Total**|**Total**|**Total**| |---|---|---|---|---|---|---|---| |||**Activity**|**Governance**||**2020**|**2019**|| ||||**Costs**||||| |||**£**|**£**||**£**|**£**|| ||Education|332,036||76,162|408,198|450,027|| |||332,036||76,162|408,198|450,027|| |**9**|**Analysis of governance costs**|||**2020**|||**2019**| |||||**£**|||**£**| ||Audit fees|||6,270|||6,095| ||Expenses reimbursed|||847|||950| ||Gross Wages|||2,795|||2,734| ||Employers NI|||224|||200| ||Administration|||3,060|||2,610| ||Legal Fees|||-|||233| ||Depreciation|||2|||3| |||||13,198|||12,825| During the year the Council had two administrative employees (2019 - 2). No employees earned in excess of £60,000. The Council consider that there are no employees that qualify as key management personnel. Neither the Council nor persons connected with them received any remuneration or other benefits from the Foundation. The aggregate amount of reimbursed expenses paid to the Council members was £0 (2019: £0). The Foundation operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Foundation in an independently administered fund. The pension cost charge represents contributions payable by the Foundation to the fund and amounted to £Nil (2019 : £0). Contributions totalling £Nil (2019 : £0) were payable to the fund at the balance sheet date. ## **10** |**CREDITORS, amounts falling due within one year**
Accountancy fees
Audit fees
Wages & PAYE & NIC
Deferred Income
Expenses
School fees|**2020**
**£**
12,750
6,300
3,692
55,000
591
2,500
80,833|**2019**
**£**
5,100
6,150
2,000
30,000
1,208
-
44,458| |---|---|---| Deferred income was one donation that was received in advance of the 2020/2021 academic year. The prior year defered income was released in the current year. ## **11** |**Debtors**
Pre-paid Scholarship|**2020**
**£**
10,000|**2019**
**£**
-| |---|---|---| - 14 - **THE EMMOTT FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS** ## **12 Financial Instruments** |**Financial Assets**
Financial assets measured at fair value
Financial assets measured at amortised cost
**Financial liabilities**
Financial liabilities measured at amortised cost|**2020**
**£**
8,469,554
8,469,554
19,641|**2019**
**£**
10,122,170
10,122,170
12,458| |---|---|---| Financial assets measured at fair value through profit or loss comprise listed shares. Financial assets measured at amortised cost comprise debtors due within one year. Financial liabilties measure at amortised cost comprise of creditors, amounts falling due within one year. ## **13 CONTROLLING PARTY** No single party has ultimate control over the Foundation. ## **14 Related Party Transactions** No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. - 15 - ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
3i Group plc
Ordinary 73 19/22p shares
Aberdeen Standard Invts Lux S.A.
Select Emerging Mkts Bd I Minc GBP Dis
6,796
Avast Plc
Ordinary GBP0.10
25,351
Aviva
Ordinary 25p shares
84,495
Axa Funds Management Sa
US Hgh Yield Bnds I GBP Inc
1,034.00000
Barclays Plc
Ordinary 25p Shares
117,123
Beazley Plc
Ordinary GBP0.05
55,388
Blackrock Global Funds
Bgf Emerging Marketbd E Dist USD Nav
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
24/07/2020
14,234
24/07/2020
4,498
62,108.00
96,334.00
24/07/2020
3,512
299,197.00
25/03/2020
18,662
28/05/2020
15,563
105,975.00
159,990.00
12/08/2020
16,544
314,604.00
25/03/2020
13,535
30/04/2020
8,439.00000
**1,038,208.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
124,262.12
31/08/2020
39,264.67
05/02/2020
3,826
29/04/2020
2,970
20,269.87
28/05/2020
9,829
31/08/2020
48,512.31
19/12/2019
8,184
42,001.80
31/03/2020
14,017
24/06/2020
9,456
31/08/2020
26/03/2020
188.00000
31/08/2020
18,640.00
31/08/2020
54,697.17
31/08/2020
73,508.33
10/06/2020
8,439.00000
**421,156.27**|**Proceeds**
**£**
(12,179.21)
35,032.34
21,990.75
47,896.19
(22,768.41)
34,578.15
38,262.00
26,212.53
36,831.08
15,991.76
245.82
28,976.00
72,794.17
81,369.09
**405,232.26**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
18,732
66.89
(5,151.80)
10,545.91
19,034
5,598.59
(8,779.11)
(4,519.83)
87,063
(3,276.42)
846.00000
133,667
68,923
7,860.76
**2,344.99**|**Book Value**
**M**
**31/08/2020**
**£**
175,706.00
102,022.00
246,127.00
86,461.00
149,654.00
296,507.00
**1,056,477.00**|**arket Value**

**31/08/2020**
**Date**
**£**
175,706
30/09/2019
31/10/2019
29/11/2019
31/12/2019
31/01/2020
28/02/2020
31/03/2020
30/04/2020
21/10/2019
102,022
06/07/2020
26/09/2019
11/05/2020
02/06/2020
246,127
08/01/2020
86,461
23/09/2019
149,654
03/04/2020
296,507
30/03/2020
**1,056,477**|**Net Income**
**£**
254.95
235.92
234.82
232.84
237.24
220.93
96.70
94.36
857.30
2,083.67
7,387.58
4,177.36
3,513.69
4,541.82| |---|---|---|---|---|---|---|---| ||||||||**24,169.18**| Page 16 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
BP plc
Ordinary US$0.25 shares
100,783
BT Group Plc
Ordinary 5p shares
109,806
Close Brothers Group Plc
Ordinary 25p shares
15,956
Diageo Plc
Ordinary 28 101/108p shares
10,318
Elementis
Ordinary GBP0.05
56,250
Fil Investment Services(Uk)limited
Instl UK Corporate Bond
148,378.00000
GlaxoSmithKline Plc
Ordinary 25p Shares
26,261
Goldman Sachs Ast Mgt Fd Svcs Ltd
Emerging Mkts Corp Bd Ptf R H GBP
39,878.00000
Goldman Sachs Ast Mgt Fd Svcs Ltd
Emg Mkts Debt Portfolio Is GBP Dis Hgd
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**1,038,208.00**
504,117.00
12/12/2019
20,752
181,883.00
205,673.00
25/03/2020
2,003
361,491.00
25/03/2020
710
12/08/2020
785
84,319.00
203,575.00
449,483.00
25/03/2020
3,901
24/06/2020
1,853
361,693.00
12/11/2019
37,505.30000
20/12/2019
4,375.00000
26/03/2020
9,286.00000
13/08/2020
9,184.00000
**3,390,442.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**421,156.27**
96,765.79
25/03/2020
39,530
24/07/2020
20,054
31/08/2020
12/12/2019
109,806
21,350.10
02/09/2019
385
03/09/2019
857
31/08/2020
17,473.44
28/05/2020
1,220
20,526.21
31/08/2020
25/03/2020
37,975
31/08/2020
05/02/2020 148,378.00000
57,005.05
01/11/2019
1,486
31,013.44
28/05/2020
1,725
24/07/2020
1,369
31/08/2020
12/11/2019
39,878.00000
361,693.00
06/02/2020
31,101.00000
40,099.50
13/08/2020
2,408.00000
72,139.68
31/08/2020
85,469.06
**1,224,691.54**|**Proceeds**
**£**
**405,232.26**
127,894.61
59,062.80
142,617.75
207,746.66
4,949.32
10,823.73
23,281.71
34,742.22
91,735.76
18,148.43
14,209.31
204,591.15
26,052.90
28,094.40
21,472.62
56,324.20
361,693.00
288,371.58
22,114.71
(6,447.45)
**2,142,711.67**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**2,344.99**
(67,546.18)
(40,086.45)
61,951
25,863.66
(13.33)
(223.01)
16,717
(7,181.67)
10,593
(38,776.26)
18,275
1,016.15
618.54
(843.30)
(1,489.61)
27,435
(10,006.14)
1,046.74
26,841.30000
**(135,275.87)**|**Book Value**
**M**
**31/08/2020**
**£**
**1,056,477.00**
163,675.00
187,732.00
265,831.00
13,185.00
403,843.00
246,403.00
**2,337,146.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**1,056,477**
20/09/2019
20/12/2019
27/03/2020
163,675
19/06/2020
09/09/2019
26/11/2019
22/04/2020
187,732
03/10/2019
265,831
09/04/2020
27/09/2019
13,185
29/05/2020
29/02/2020
10/10/2019
09/01/2020
09/04/2020
403,843
09/07/2020
16/12/2019
246,403
**2,337,146**|**Net Income**
**£**
**24,169.18**
8,412.86
7,886.27
9,912.15
6,840.94
6,210.79
6,474.16
5,309.60
2,828.16
1,255.50
2,404.02
4,989.59
4,707.25
5,698.25
5,448.44
20,827.37| |---|---|---|---|---|---|---|---| ||||||||**123,374.53**| Page 17 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
Goldman Sachs Ast Mgt Fd Svcs Ltd
Global High Yield Portfolio Is GBP Dis
11,545.71400
Goldman Sachs Ast Mgt Fd Svcs Ltd
Emerging Mkts Corp Bd Ptf I GBP Hdg
HSBC Holdings Plc
Ordinary US$0.50 (UK Reg)
33,284
Ig Group Hldgs
Ordinary GBP0.00005
31,686
Imi
Ordinary GBP0.28571428
Informa Plc
Ordinary GBP0.001
43,219
Insight Investment Discretionary Fd
UK Corp All Maturities Bd Net P Inc
181,472.00000
Intermediate Capital Group Plc
Ordinary GBP0.2625
Ishares
GBP Core Corporate Bond
1,321
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**3,390,442.00**
105,066.00
12/03/2020
9,361.00000
20/07/2020
740.00000
196,842.00
12/12/2019
11,874
171,041.00
25/03/2020
4,273
12/08/2020
4,138
24/07/2020
6,215
374,536.00
12/08/2020
4,514
204,719.00
25/03/2020
8,339
24/07/2020
1,507
203,348.00
**4,645,994.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**1,224,691.54**
78,367.02
27/08/2020
11,120.00000
31/08/2020
74,704.67
31/08/2020
68,570.88
25/03/2020
45,158
26,489.76
28/05/2020
6,980
31,975.80
31/08/2020
68,209.32
31/08/2020
19,297.05
02/09/2019
2,970
03/09/2019
2,016
31/08/2020
05/02/2020 181,472.00000
73,187.46
28/05/2020
2,740
21,735.95
31/08/2020
11/03/2020
127
31/08/2020
**1,687,229.45**|**Proceeds**
**£**
**2,142,711.67**
96,260.28
135.46
(1,197.33)
226,301.86
52,397.24
(70,295.13)
2,641.32
25,789.84
17,092.32
173,908.36
204,212.97
34,853.52
(26,263.27)
19,081.21
(2,199.73)
**2,895,430.59**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**(135,275.87)**
(1,305.28)
9,786.71400
740.00000
(39,111.02)
14,054.55
33,117
6,215
51.81
(378.34)
42,747
(506.03)
10,805.84
7,106
(468.52)
1,194
**(152,132.86)**|**Book Value**
**M**
**31/08/2020**
**£**
**2,337,146.00**
85,732.00
75,902.00
261,459.00
65,568.00
176,716.00
97,139.00
185,998.00
**3,285,660.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**2,337,146**
16/12/2019
85,732
75,902
26/09/2019
20/11/2019
24/10/2019
261,459
27/02/2020
65,568
16/09/2019
176,716
15/10/2019
05/08/2020
97,139
25/09/2019
27/12/2019
25/03/2020
185,998
24/06/2020
**3,285,660**|**Net Income**
**£**
**123,374.53**
5,955.59
2,673.87
2,596.05
9,581.85
4,106.51
3,492.18
2,579.47
2,004.44
1,202.90
1,183.88
1,051.91
1,021.35| |---|---|---|---|---|---|---|---| ||||||||**160,824.53**| Page 18 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
Ishares
Ishares Core UK Gilts GBP
45,729
Jpmorgan Asset Mgmt(Europe)s.A.R.L
Emerging Markets Debt I2 GBP Dis Hgd
Jpmorgan Asset Mgmt(Europe)s.A.R.L
Emerging Mkts Corp Bd I2 GBP Dis Hedged
825.89500
Jpmorgan Asset Mgmt(Europe)s.A.R.L.
Emerging Markets Debt C GBP Dis Hgd
1,106.00000
Lloyds Banking Group
Ordinary GBP0.10
535,583
M&g Plc
Ordinary GBP0.05
M&G Securities Ltd
Corporate Bond I GBP Inc
790,896.00000
Moneysupermarket.Com Group Plc
Ordinary GBP0.0002
36,892
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**4,645,994.00**
661,141.00
06/02/2020
21,302
26/03/2020
5,890
13/08/2020
5,507
10/06/2020
841.00000
84,572.00
119,935.00
266,881.00
25/03/2020
112,737
28/05/2020
153,163
21/10/2019
23,263.00
25/03/2020
125,682.00
24/07/2020
51,097.00
334,786.00
137,792.00
**6,251,101.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**1,687,229.45**
302,629.82
01/11/2019
9,345
86,926.78
21/11/2019
14,736
81,559.47
20/12/2019
21,648
12/03/2020
8,903
28/05/2020
1,636
24/06/2020
10,658
31/08/2020
83,802.08
31/08/2020
26/03/2020
143.00000
20/07/2020
682.89500
06/02/2020
582.00000
30/04/2020
524.00000
41,367.66
24/06/2020
57,022
50,245.09
31/08/2020
24/06/2020
17,660.00
191,253.39
31/08/2020
85,415.25
11/02/2020 790,896.00000
28/05/2020
7,867
31/08/2020
**2,610,428.99**|**Proceeds**
**£**
**2,895,430.59**
132,074.59
202,907.48
298,302.71
132,155.76
24,385.35
158,032.71
361.49
(3,114.92)
12,704.63
69,993.28
60,775.50
44,098.32
18,392.93
121,933.49
28,074.74
(61,528.75)
334,885.85
26,304.12
19,998.67
**4,516,168.54**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**(152,132.86)**
(3,033.60)
(10,142.75)
(14,679.87)
5,674.05
852.60
4,724.59
11,502
841.00000
(1,938.63)
64.54
(2,336.77)
(12,724.41)
(7,112.33)
744,461
5,398.35
182,382.00
99.85
(3,079.21)
29,025
**(190,366.45)**|**Book Value**
**M**
**31/08/2020**
**£**
**3,285,660.00**
167,432.00
86,917.00
211,055.00
315,521.00
88,410.00
**4,154,995.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**3,285,660**
27/11/2019
27/05/2020
167,432
86,917
19/09/2019
19/09/2019
13/09/2019
211,055
27/05/2020
29/05/2020
29/05/2020
315,521
29/05/2020
30/11/2019
28/02/2020
13/09/2019
88,410
14/05/2020
**4,154,995**|**Net Income**
**£**
**160,824.53**
3,234.54
1,422.88
8.26
6,127.24
5,998.53
23,488.63
2,882.82
2,719.89
1,143.65
3,176.40| |---|---|---|---|---|---|---|---| ||||||||**211,027.37**| Page 19 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
Nordea Investment Funds S.A.(Lu)
European High Yield Bond Hai GBP
21,339.00000
Northern Trust Lux Mgmt Co Sa
Ashmore Sicav Emg Mkt Debt Z2 GBP Dis
379.62600
Pearson Plc
Ordinary 25p shares
10,687
Pimco Global Advisors Irl Ltd
UK Corp Bd Fd Inst Inc GBP
Prudential Plc
Ordinary 5p shares
23,263
Reckitt Benckiser Group Plc
Ordinary shares of 10P
5,394
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**6,251,101.00**
207,842.00
35,966.00
88,852.00
25/03/2020
3,525
06/02/2020
51,949.00000
29/05/2020
2,953.00000
25/06/2020
2,002.00000
318,238.00
345,162.00
25/03/2020
476
24/06/2020
317
**7,247,161.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**2,610,428.99**
12/03/2020
2,282.00000
31/08/2020
31/08/2020
17,913.73
31/08/2020
567,897.12
12/03/2020
4,583.00000
31,131.85
26/03/2020
5,581.00000
21,427.91
13/08/2020
2,468.00000
31/08/2020
01/11/2019
2,892
31/03/2020
3,158
31/08/2020
27,911.40
28/05/2020
381
22,959.23
31/08/2020
**3,299,670.23**|**Proceeds**
**£**
**4,516,168.54**
21,343.55
8,194.31
1,933.00
27,263.73
48,929.71
54,975.64
26,422.90
7,412.00
38,773.45
32,726.76
25,216.96
26,443.57
(64,213.19)
**4,771,590.93**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**(190,366.45)**
(883.14)
19,057.00000
379.62600
14,212
(1,170.82)
(6,034.85)
(471.96)
44,272.00000
(789.13)
(10,474.70)
17,213
2,228.75
5,806
**(207,962.30)**|**Book Value**
**M**
**31/08/2020**
**£**
**4,154,995.00**
177,421.00
34,033.00
79,502.00
475,039.00
210,257.00
436,031.00
**5,567,278.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**4,154,995**
30/04/2020
177,421
13/09/2019
14/10/2019
15/11/2019
13/12/2019
15/01/2020
14/02/2020
13/03/2020
16/04/2020
18/05/2020
15/06/2020
14/07/2020
34,033
14/08/2020
13/09/2019
79,502
07/05/2020
31/03/2020
30/06/2020
475,039
26/09/2019
31/10/2019
210,257
15/05/2020
26/09/2019
436,031
28/05/2020
**5,567,278**|**Net Income**
**£**
**211,027.37**
8,061.11
216.98
205.95
232.15
199.32
222.01
221.13
193.57
119.71
207.40
164.09
151.82
150.55
641.22
1,918.62
3,997.07
867.92
3,826.76
4,245.32
3,937.62
5,963.92| |---|---|---|---|---|---|---|---| ||||||||**246,771.61**| Page 20 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
Relx Plc
GBP0.1444
Rio Tinto Plc
Ordinary 10p shares (Regd.)
3,593
Royal Bank of Scotland Group Plc
Ordinary 25p shares
114,207
Royal Dutch Shell plc
Class 'B' Ordinary Euro 0.07 Shares
27,345
Royal London Asset Management
Sterling Credit Instl A GBP Dis Nav
56,570.000
Schroders Plc (New Co.)
Ordinary £1 shares (Voting)
Smith David S Holdings Plc
Ordinary 10p shares
51,158
**Carried Forward**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**7,247,161.00**
25/03/2020
20,796
149,092.00
211,797.00
01/11/2019
12,520
25/03/2020
38,758
28/05/2020
35,825
619,364.00
12/08/2020
1,577
81,065.00
05/02/2020
110,066.000
24/06/2020
17,536.000
01/07/2020
24/07/2020
819
27/07/2020
595
28/07/2020
712
29/07/2020
477
30/07/2020
1,133
31/07/2020
2,138
03/08/2020
378
173,937.00
02/09/2019
7,763
03/09/2019
5,917
**8,482,416.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**3,299,670.23**
349,752.39
28/05/2020
2,173
31/08/2020
25/03/2020
3,593
26,855.27
19/12/2019
12,965
54,348.92
24/06/2020
16,719
44,200.31
31/08/2020
18,581.06
01/11/2019
1,200
31/03/2020
2,723
24/07/2020
4,876
31/08/2020
159,632.91
11/03/2020
14,388.000
24,849.39
26/03/2020
18,176.000
(730.51)
31/08/2020
24,421.92
31/08/2020
17,754.10
21,293.87
14,269.79
33,855.55
63,921.83
11,511.77
26,587.77
25/03/2020
14,026
20,195.28
31/08/2020
**4,210,971.85**|**Proceeds**
**£**
**4,771,590.93**
40,863.42
(3,850.67)
130,235.65
31,927.13
20,278.30
91,443.45
26,556.19
36,258.82
57,791.54
224,740.79
20,557.86
23,781.93
2,647.62
5,845.83
38,226.68
41,522.06
**5,560,417.53**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**(207,962.30)**
4,317.36
18,623
(18,856.35)
7,511.44
(7,487.06)
171,626
(623.80)
(25,417.11)
(52,649.81)
20,123
(224.93)
(2,472.45)
151,608.000
6,252
(9,520.31)
50,812
**(313,385.32)**|**Book Value**
**M**
**31/08/2020**
**£**
**5,567,278.00**
317,057.00
193,577.00
213,907.00
215,132.00
181,183.00
131,451.00
**6,819,585.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**5,567,278**
28/05/2020
317,057
16/04/2020
20/09/2019
193,577
23/09/2019
18/12/2019
23/03/2020
213,907
22/06/2020
30/09/2019
31/12/2019
31/03/2020
215,132
30/06/2020
181,183
01/11/2019
131,451
01/05/2020
**6,819,585**|**Net Income**
**£**
**246,771.61**
6,675.52
6,376.50
15,988.98
10,393.83
9,341.61
9,516.78
2,969.91
767.88
751.19
729.70
983.07
7,132.18| |---|---|---|---|---|---|---|---| ||||||||**318,398.76**| Page 21 ## **THE EMMOTT FOUNDATION LIMITED** ## **SCHEDULE OF INVESTMENTS & INCOME** ## **YEAR ENDED 31ST AUGUST 2020** |**Holding**
**01/09/2019**
**Brought Forward**
SSE Plc
GBP0.50
19,913
Ubs Asset Management (Uk) Ltd
S&p 500 Index J Inc Nav
UBS ETF MSCI Emerging Market
Shs A Distribution (GBP)
UBS IRL PLC
MSCI ACWi SF Units hedged USD ETF
Unilever plc
Ordinary 3.1111p shares
8,462
Union Bancaire Privee Sa
Global High Yield Solution Ih GBP Dist
905.00000
Vanguard Investment Series
Ftse 100 Etf Inc Nav
4,149.00000
Vodafone Group Plc
Ord USD0.209538
261,946
WPP Group Plc
Ordinary 10p shares
34,063
**TOTAL:**|**Book Value**
**Additions**
**01/09/2019**
**Date**
**Quantity**
**£**
**8,482,416.00**
229,199.00
02/09/2019
2,008
25/03/2020
4,703
24/07/2020
1,967
29/05/2020
422.00000
23/12/2019
3,892
24/06/2020
2,115
439,686.00
25/03/2020
1,076
28/05/2020
828
101,161.00
132,584.00
04/11/2019
4,392.00000
21/11/2019
7,443.00000
26/03/2020
2,150.00000
24/07/2020
1,355.00000
406,645.00
12/12/2019
59,967
24/06/2020
27,320
12/08/2020
21,088
330,479.00
**10,122,170.00**|**Disposals**
**Cost**
**Date**
**Quantity**
**£**
**4,210,971.85**
23,429.55
24/06/2020
1,705
60,282.18
31/08/2020
26,157.06
85,673.62
13/08/2020
422.00000
330,100.79
27/03/2020
3,892
176,222.46
31/08/2020
43,116.21
24/06/2020
561
35,353.44
24/07/2020
9,805
26/03/2020
126.00000
31/08/2020
142,580.74
13/12/2019
1,650.00000
239,599.44
24/06/2020
1,035.00000
55,066.97
12/08/2020
711.00000
36,909.86
31/08/2020
87,552.76
31/08/2020
35,347.44
25,471.01
31/08/2020
**5,613,835.38**|**Proceeds**
**£**
**5,560,417.53**
23,363.30
(19,466.00)
88,500.38
267,057.87
1,187.46
25,167.56
455,769.65
12,647.33
8,202.71
52,460.24
27,876.47
19,498.17
74,267.61
142,330.21
110,442.00
**6,849,722.49**|**Profit**
**Holding**
**(Loss)**
**31/08/2020**
**£**
**(313,385.32)**
3,324.51
26,886
2,826.76
(63,042.92)
2,115
(2,874.63)
(34,343.81)
(1,436.96)
779.00000
(677.95)
(4,565.73)
(2,552.84)
16,093.00000
370,321
34,063
**(416,728.89)**|**Book Value**
**M**
**31/08/2020**
**£**
**6,819,585.00**
338,495.00
175,035.00
78,874.00
424,842.00
412,686.00
220,037.00
**8,469,554.00**|**arket Value**
**31/08/2020**
**Date**
**£**
**6,819,585**
20/09/2019
13/03/2020
338,495
12/02/2020
175,035
07/08/2020
11/09/2019
04/12/2019
18/03/2020
04/06/2020
24/04/2020
78,874
09/10/2019
27/12/2019
08/04/2020
424,842
24/06/2020
07/02/2020
07/08/2020
412,686
220,037
04/11/2019
**8,469,554**|**Net Income**
**£**
**318,398.76**
10,798.79
5,261.04
3,777.51
5,571.11
3,722.87
3,026.01
2,938.01
3,447.03
5,608.80
1,787.10
3,762.97
6,230.05
1,657.91
9,948.19
13,133.08
7,732.30| |---|---|---|---|---|---|---|---| ||||||||**406,801.53**| Page 22