| Page | |
|---|---|
| Legalandadministrativeinformation | |
| Trustees'report | |
| Statementoftrustees'responsibilities | 7 |
| Independentexaminer'sreport | 8 |
| Statementoffinancialactivities | |
| Statementoffinancialposition | 10 |
| Statementofcashflows | 11 |
| Notestotheaccounts | 12-18 |
| Trustees | MrARMacdonald-Buchanan(Chairman) | |
|---|---|---|
| MrHJMacdonald-Buchanan | ||
| MrsJCLascelles | ||
| MissCMLascelles | (Appointed18August2021 | |
| Charitynumber | 209994 | |
| Registeredoffice/addressforappeals | RathboneTrustCompanyLimited | |
| 8FinsburyCircus | ||
| London | ||
| EC2M7AZ | ||
| Independentexaminer | DavidMatkinsFCA | |
| BournerBullockChartered Accountants | ||
| 114StMartin'sLane | ||
| CoventGarden | ||
| London | ||
| WC2N4BE | ||
| Solicitors | Currey&Co | |
| 33QueenAnneStreet | ||
| London | ||
| W1G9HY | ||
| InvestmentadvisorsIbankers | RathboneInvestmentManagementLimited | |
| 8FinsburyCircus | ||
| London | ||
| EC2M7AZ | ||
| UK |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds |
||
| 2021 | 2020 |
||
| Notes | £ |
£ |
|
| Incomefrom: | |||
| Donation | 3 | - | 28 |
| Investmentincome | 4 | 143,143 | 119,443 |
| Otherincome | 5 | 869 | (2,258) |
| Totalincome | 144,012 | 117,213 |
|
| Expenditureon: | |||
| Raisingfunds | 6 | 12,716 | 10,978 |
| Charitableactivities | 7 | 119,218 | 88,824 |
| Totalresourcesexpended | 131,934 | 99,802 |
|
| Netexpenditurebeforeinvestmentgains/(losses) | 12,078 | 17,411 |
|
| Netgains/(losses)oninvestments | 12 | 242,974 | 3,404 |
| Netmovementinfunds | 255,052 | 20,815 |
|
| Fundbalancesat1January2021 | 4,369,595 | 4,348,780 |
|
| Fundbalancesat31December2021 | 4,624,647 | 4,369,595 |
| 2021 | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixedassets | ||||||
| Investments | 13 | 4,213,186 | 4,125,963 | |||
| Currentassets | ||||||
| Debtors | 14 | 136,719 | 1,697 | |||
| Cashatbankandinhand | 255,495 | |||||
| 257,192 | ||||||
| Creditors:amountsfallingduewithin | ||||||
| oneyear | 15 | (41,140) | ||||
| Netcurrentassets | 243,632 | |||||
| Totalassetslesscurrentliabilities | 4,624,647 | 4,369,595 | ||||
| Incomefunds | ||||||
| Unrestrictedfunds | 4,624,647 | 4,369,595 | ||||
| 4,369,595 | ||||||
| TheaccountswereapprovedbytheTrusteeson-9.............. | Z6V, |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cashflowsfromoperatingactivities | |||||
| Cashabsorbedbyoperations | 18 | (239,476) | (99,510) | ||
| Investingactivities | |||||
| Purchaseofinvestments | (1,130,140) | (539,673) | |||
| Proceedsondisposalofinvestments | 1,364,744 | 513,298 | |||
| Investmentincomereceived | 139,075 | 118,363 | |||
| Netcashgeneratedfrominvesting | |||||
| activities | 373,679 | 91,988 | |||
| Netcashusedinfinancingactivities | - | - | |||
| Netincrease/(decrease)incashandcash | |||||
| equivalents | 134,203 | (7,522) | |||
| Cashandcashequivalentsatbeginningofyear | 341,571 | 349,093 | |||
| Cashandcashequivalentsatendofyear | 475,774 | 341,571 | |||
| Relatingto: | |||||
| Cashatbankandinhand | 315,882 | 255,495 | |||
| Shorttermdepositsincludedincurrent | |||||
| assetinvestments | 159,892 | 86,076 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Donations | - | 28 |
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Incomefromlistedinvestments | 120,282 | 92,744 | |
| Unittrustinterest | 1,930 | 7,475 | |
| REIT | 4,325 | 3,425 | |
| Overseasdividendincome | 14,385 | 16,919 | |
| Overseasinterest | 3,089 | - | |
| 144,011 | 120,563 | ||
| Less:Overseastaxdeducted | (868) | (1,120) | |
| 143,143 | 119,443 | ||
| 5 | Otherincome | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Bankinterest | - | 302 | |
| Accruedinterest(charge) | 869 | (2,560) | |
| 869 | (2,258) | ||
| 6 | Raisingfunds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Investmentmanagement | 12,716 | 10,978 | |
| 12,716 | 10,978 | ||
| 7 | Charitableactivities | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Grantspayable(seenote8) | 102,500 | 75,000 | |
| Governancecosts(seenote9) | 16,718 | 13,824 | |
| 119,218 | 88,824 |
| 2021 | 2020 |
|---|---|
| £ | £ |
| 102,500 | 75,000 |
| Supportcosts | |||||
|---|---|---|---|---|---|
| Support | Governance | 2021 | 2020 | Basisof | |
| costs | costs |
allocation | |||
| £ | £ |
£ | £ | ||
| Legalfees | - | 3,000 |
3,000 | - | |
| Trustadministrationfee | - | 12,000 |
12,000 | 12,000 | Governance |
| Independentexaminers'fee | - | 1,718 |
1,718 | 1,824 | Governance |
| - | 16,718 |
16,718 | 13,824 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Revaluationofinvestments | 242,913 | 96,630 |
| Gain/(loss)onsaleofinvestments | 61 | (93,226) |
| 242,974 | 3,404 |
| Listed | Cashin | Total | |
|---|---|---|---|
| investments | portfolio | ||
| £ | £ | ||
| Costorvaluation | |||
| At1January2021 | 4,039,887 | 86,076 | 4,125,963 |
| Additions | 1,136,361 | - | 1,136,361 |
| Valuationchanges | 242,913 | - | 242,913 |
| Gains/(losses)onsaleofinvestments | 61 | - | 61 |
| Cashavailabletoinvest | - | 73,816 | 73,816 |
| Disposals | (1,365,928) | - | (1,365,928) |
| At31December2021 | 4,053,294 | 159,892 | 4,213,186 |
| Carryingamount | |||
| At31December2020 | 4,039,887 | 86,076 | 4,125,963 |
| Investment | Units | MarketValue | %ofTotal | |
|---|---|---|---|---|
| £ | MarketValue | |||
| FidelityGlobalDividendWInc | 100,000 | 224,600 | 5.16 | |
| 2021 | 2020 | |||
| Thegeographicalsplitofinvestmentsattheyearendwasasfollows: | £ | £ | ||
| UnitedKingdom | 3,661,033 | 3,836,842 | ||
| Non-UnitedKingdom | 552,153 | 289,121 | ||
| 4,213,186 | 4,125,963 | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Listedinvestments | 4,053,294 | 4,039,887 | ||
| Cashininvestmentportfolio | 159,892 | 86,076 | ||
| 'I,LIJ,IOO | 'F,IGO,tOJ | |||
| Historiccostofinvestmentsareasfollows: | 2021 | 2020 | ||
| C | c | |||
| Listedinvestments | IL) | LyLG,'tyO |
| Debtorsfallingduewithinoneyear | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Saleproceedsdue | 135,440 | - |
| Dividendsdue | 1,279 | 1,381 |
| Prepaymentsandaccruedincome | - | 316 |
| 136,719 | 1,697 | |
| Creditorsfallingduewithinoneyear | ||
| 2021 | 2020 | |
| £ | £ | |
| Trustadministrationfee | 12,000 | 12,000 |
| Independentexaminer'sfee | 1,640 | 1,560 |
| Donations | 27,500 | - |
| 41.140 | 13.560 |
| 18 | Cashgeneratedfromoperations | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Surplusfortheyear | 255,052 | 20,815 | |
| Adjustmentsfor: | |||
| Investmentincomerecognisedinstatementoffinancialactivities | (142,731) | (118,680) | |
| (Gain)/lossondisposalofinvestments | (61) | 93,226 | |
| Fairvaluegainsandlossesoninvestments | (242,913) | (96,630) | |
| Movementsinworkingcapital: | |||
| (Increase)/decreaseindebtors | (136,403) | 1,495 | |
| Increaseincreditors | 27,580 | 264 | |
| Cashabsorbedbyoperations | (239,476) | (99,510) | |
| 19 | Cashandcashequivalents | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Cashatbankandinhand | 315,882 | 255,495 | |
| Cashavailabletoinvest | 159,892 | 86,076 | |
| 475,774 | 341,571 | ||
| 20 | Donationsmadeduringtheyear | ||
| 2021 | 2020 | ||
| £ | £ | ||
| CarriejoCharitableTrust | 10,000 | 35,000 | |
| CharitiesAidFoundation-AlastairMacdonald-Buchanan | - | 18,000 | |
| CharitiesAidFoundation-JillRosamondeMacdonald-Buchanan | - | 2,000 | |
| OrrinCharitableTrust | 25,000 | 20,000 | |
| GOEDLife | 5,000 | - | |
| OracleCancerTrust | 10,000 | - | |
| CureParkinsons | 30,000 | - | |
| CountryFoodTrust | 7,500 | - | |
| NationalHorseRacingMuseum | 5,000 | - | |
| Stowe School | 10,000 | - | |
| 102,500 | 75,000 |