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|Trustees||Sir Algernon
Heber-Pecy|Sir Algernon
Heber-Pecy||
|---|---|---|---|---|
|||A H S Hannay|||
|||A H M Wilson|||
|Administrator||Lynn e Loxley|||
|Email address||llctadmin@leverhulme,||net|
|Charity number||212431|||
|Principal address||Estate Office|||
|||Thornton
Hough|||
|||Wirra
I|||
|||Merseyside|||
|||CH63 1JD|||
|Auditor||Mitchell
Charlesworth||LLP|
|||3rd Floor|||
|||5Temple Square|||
|||Temple Street|||
|||Liverpool|||
|||Merseyside|||
|||L2 5RH|||
|Bankers||Barclays Bank|pic||
|||1Churchill
Place|||
|||London|||
|||E145HP|||
|Investment|managers|Schroder S.Co Limited|||
|||T/A Cazenove|Capital Management||
|||12 Moorgate|||
|||London|||
|||EC2R 6DA|||
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||||Page|
|---|---|---|---|
|Trustees'
report|||1-7|
|Independent|auditor's|report|8-12|
|Statement of|financial|activities|13|
|Balance sheet|||14|
|Statement of|cash flows||15|
|Notes to the financial||statements|16-25|
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|Equities
Bonds||75,3
8.0|
|---|---|---|
|Multi-Asset
funds||0.2|
|Hedge funds
Private equity funds
Property
Commodities
(Gold)||0.1
0.6
3.5|
|Structured
products||3,6|
|Insurance
and 'Alternatives'|funds|3.1|
|Cash|||
|||100.0|
|Equities
Bonds|||72.2
9.5|
|---|---|---|---|
|Multi-Asset|funds|||
|Hedge funds
Private equity funds
Property
Commoditi es (Gold)|||1.3
0.1
0.7
4.2|
|Structured|products||4.2|
|Insurance|and 'Alternatives'|funds|3.7|
|Cash|||3.8|
||||100.0|
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||||||Unrestricted|Endowment|Total|Unrestricted|Endowment|Tota
I|
|---|---|---|---|---|---|---|---|---|---|---|
||||||funds|funds||funds|funds||
||||||2021|2021|2021|2020|2020|2020|
|||||Notes|f||f|f|E|f|
|Income from:|||||||||||
|Investments|||||587,106||587,106|695,470||695,470|
|Ex enditure|on:||||||||||
|Raising funds|||||43,903|87,806|131,709|46,202|92,400|138,602|
|Charitable
activities|||||305,339||305,339|1,179,697||1,179,697|
|Total resources||expended|||349,242|87,806|437,048|1,225,899|92,400|1,318,299|
|Net gains/(losses)|||on||||||||
|investments||||||8,042,753|8,042,753||(4,616,812)|(4,616,812)|
|Net movement||in|funds||237,864|7,954,947|8,192,811|(530,429)|(4,709,212)|(5,239,641)|
|Fund balances||at|6 April||||||||
|2020|||||(1,081,445)|34,319,887|33,238,442|(551,016)|39,029,100|38,478,084|
|Fund balances||at|5 April||||||||
|2021|||||(843,581)|42,274,834|41,431,253|(1,081,445)|34,319,888|33,238,443|
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||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|f||||
|Fixed assets|||||||||
|Investments||||10||42,358,511||34,497,079|
|Current assets|||||||||
|Debtors||||12|8,319||26,675||
|Cash at bank|and in|hand|||92,527||145,532||
||||||100,846||172,207||
|Creditors: amounts||falling due within one|||||||
|year||||13|(375,604)||(582,843)||
|Net current|liabilities|||||(274,758)||(410,636)|
|Total assets|less current||liabilities|||42,083,753||34,086,443|
|Creditors: amounts||falling due after more|||||||
|than one year||||14||(652,500)||(848,000)|
|Net assets||||||41,431,253||33,238,443|
|Capital funds|||||||||
|Expendable|endowment||fund|16||42,274,834||34,319,888|
|Income funds|||||||||
|Unrestricted|funds||||||||
|Designated|funds|||17|525,010||346,015||
|General unrestricted||funds|||(1,368,591)||(1,427,460)||
|||||||(843,581)||(1,081,445)|
|||||||41,431,253||33,238,443|
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||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|||||Notes|f||f||
|Cash flows from operating|activities||||||||
|Cash absorbed
by operations||||22||(839,788)||(1,000,750)|
|Investing
activities|||||||||
|Purchase of investments|||||(22,482,149)||(10,965,684)||
|Proceeds on disposal of investments|||||22,663,470||11,247,512||
|Investment
income received|||||605,462||711,409||
|Net cash generated
from|investing|activities||||786,783||993,237|
|Net cash used in financing|activities||||||||
|Net decrease
in cash and|cash equivalents|||||(53,005)||(7,513)|
|Cash and cash equivalents|at beginning||ofyear|||145,532||153,045|
|Cash and cash equivalents|at end ofyear|||||92,527||145,532|
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||||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2021|2020|
||||||||f|f|
|Income from|listed investments||||||585,845|691,479|
|Interest receivable|||||||1,261|3,991|
||||||||587,106|695,470|
|Raising funds|||||||||
||||Unrestricted|Expendable|Total|Unrestricted|Expendable|Tota
I|
||||funds|endowment||funds|endowment||
||||2021|2021|2021|2020|2020|2020|
||||f|f|f|E|f|f|
|Investment|managers|fees|43,903|87,806|131,709|46,202|92,400|138,602|
||||43,903|87,806|131,709|46,202|92,400|138,602|
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|4|Charitable
activities||||
|---|---|---|---|---|
||||2021|2020|
||||f|f|
||Grants payable (see note 5)||287,412|1,161,624|
||Share ofsupport
costs (see note 6)||11,507|12,143|
||Share ofgovernance
costs (see note 6)||6,420|5,930|
||||305,339|1,179,697|
|5|Grants payable||||
||||2021|Number of|
||||f|Grants|
||Grants paid off20,000or more during the year:||||
||Bolton School||30,000||
||Helsmdale
Primary School||21,538||
||Lady Lever Art Gallery||50,000||
||University
of Liverpool||100,000||
||Liverpool
Heart and Chest Hospital||20,000||
||Liverpool
School of Tropical Medicine||35,000||
||Warrington
Youth Club (for Onside Youth|Zones)|25,000||
||Royal College of Physicians||50,000||
||Royal College ofSurgeons||100,000||
||||431,538||
||||2021|2020|
||Grants to institutions
may be categorised|as follows:||E|
||Health||102,750|190,574|
||Community||96,300|101,400|
||Education||38,362|385,000|
||Arts||29,000|22,500|
||Animal welfare||10,000|20,000|
||Environmental|||3,150|
||Religious establishments||11,000|439,000|
||||287,412|1,161,624|
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|Support c|osts||||||||
|---|---|---|---|---|---|---|---|---|
||||Support costs|Governance|2021|Support costs|Governance|2020|
|||||costs|||costs||
|Office management||fees|11,507||11,507|11,507||11,507|
|Other expenses||||||636||636|
|Audit fees||||4,460|4,460||4,109|4,109|
|Accountancy||||1,960|1,960||1,821|1,821|
||||11,507|6,420|17,927|12,143|5,930|18,073|
|Analysed|between||||||||
|Charitable|activities||11,507|6,420|17,927|12,143|5,930|18,073|
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||||Expendable|Expendable|
|---|---|---|---|---|
||||endowment|endowment|
||||2021|2020|
||||f|E|
|Revaluation|of|investments|4,667,635|(4,167,052)|
|Gain/(loss)|on|sale of investments|3,375,118|(449,760)|
||||8,042,753|(4,616,812)|
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|Fixed asset investments|Fixed asset investments|Fixed asset investments||||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Listed|Cash in|Total|
|||||||investments||portfolio||
|Cost or valuation||||||||||
|At 6 April 2020||||||33,429,234||1,067,845|34,497,079|
|Additions||||||22,482,149|||22,482,149|
|Valuation
changes||||||4,667,635|||4,667,635|
|Movement
in cash||||||||639,591|639,591|
|Disposals||||||(19,927,943)|||(19,927,943)|
|At 5 April 2021||||||40,651,075||1,707,436|42,358,511|
|Carrying amount||||||||||
|At 05 April 2021||||||40,651,075||1,707,436|42,358,511|
|At 05 April 2020||||||33,429,234||1,067,845|34,497,079|
|||||||||2021|2020|
|||||||||f|f|
|Investments
at fair value comprise:||||||||||
|UK equities,
unit|trusts|and treasury stock||||||19,725,358|19,000,241|
|Overseas equities|and unit trusts|||||||20,925,717|14,428,993|
|Cash held
by investment||managers||||||1,707,436|1,067,845|
|||||||||42,358,511|34,497,079|
|The investments|are listed on the United||Kingdom||Stock Exchange and are stated at mid-market
value.|||||
|The total cost of managing
the portfolio
f510,198),the fall in costs can mainly be|||including
attributed||third-party
to changes|fund fees and
to use of more|brokerage
fees was f396,370 (2020:
passive funds as predicted
last year.|||
|Financial instruments||||||||2021|2020|
|||||||||f|f|
|Carrying amount|offinancial assets|||||||||
|Instruments
measured||at fair value through||profit or loss||||40,651,075|33,429,234|
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|12|Debtors||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||Amounts
falling|due||within one year:|f|f|
||Other debtors||||8,319|26,675|
|13|Creditors: amounts||falling due within one year||||
||||||2021|2020|
||||||f|f|
||Grants payable||||326,500|531,500|
||Accruals and deferred|||income|49,104|51,343|
||||||375,604|582,843|
|14|Creditors: amounts||falling due after more than one year||||
||||||2021|2020|
||||||f|f|
||Grants payable||||652,500|848,000|
|15|Reconciliation|ofgrant commitments|||||
||||||2021|2020|
||||||f|f|
||Commitments|at 6 April 2020|||(1,379,500)|(1,075,000)|
||Grants paid out during the year||||687,912|857,124|
||||||(691,588)|(217,876)|
||Commitments|at 5|April 2021||979,000|1,379,500|
||Charge
in Statement|||of Financial Activities (note )|287,412|1,161,624|
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||||||Balance|at|Transfers|Balance at|Transfers|Transfers|Balance at|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||6 April 2019|||6 April 2020|||5Apnl 2021|
|||||||f||||f|f|
|Special reserve||fund|||195,052||150,963|346,015|178,995||525,010|
||||||195,052||150,963|346,015|178,995||525,010|
|pecial reserve||fund||||||||||
|he trustees|set up a designated|||fund on|1st September||2004 to build|up a reserve out|of which|large|donations|
|could be made||in the future.||||||||||
|Analysis of|net|assets between|funds|||||||||
|||Unrestricted|||Endowment||Total|Unrestricted|Endowment||Total|
|||||funds|funds|||funds|funds|||
|||||2021|2021||2021|2020|2020||2020|
|||||f||f|f|f||f|f|
|Fund balances||at 5||||||||||
|April 2021 are||||||||||||
|represented|by:|||||||||||
|Investments|||42,358,511||||42,358,511|177,191|34,319,888||34,497,079|
|Current
assets/(liabilities)||||(274,758)|||(274,758)|(410,636)|||(410,636)|
|Long term liabilities||||(652,500)|||(652,500)|(848,000)|||(848,000)|
||||41,431,253||||41,431,253|(1,081,445)|34,319,888||33,238,443|
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|22|Cash generated|from operations|from operations|||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||f|f|
||Surplus/(deficit)|for the year||||8,192,811|(5,239,641)|
||Adjustments
for:|||||||
||Investment
income recognised||in statement|offinancial|activities|(587,106)|(695,470)|
||(Gain)/loss
on|disposal of investments||||(3,375,118)|449,760|
||Fair value gains|and losses on investments||||(4,667,635)|4,167,052|
||Movements
in|working capital:||||||
||(Decrease)/increase
in creditors|||||(402,740)|317,549|
||Cash absorbed|by operations||||(839,788)|(1,000,750)|
|23|Analysis ofchanges
in net funds|||||||
||The charity had|no debt during|the year.|||||