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||||Page|
|---|---|---|---|
|Reference and administrative||details||
|Trustees'
report|||2-5|
|Independent
auditor's|report||6-8|
|Statement offinancial|activities|||
|Balance sheet|||10|
|Notes to the financial|statements||11-17|
##
|Charity number|Charity number|||214244||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Registered|and principal||office|2nd Floor, 1 Park House||||||||
|||||Station Square,||||||||
|||||COVENTRY||||||||
|||||CV1 2FL||||||||
|Trustees||||P, Devine|||{Chairman)|||||
|||||D. Cawdery|||{ViceChairman)|||||
|||||R.M.S.Allanson||||||||
|||||D.W. Arundale||||||||
|||||D.C. Brinkley||||||||
|||||J.H. Colligan||||||||
|||||J. Hogan||||||||
|||||D. Murphy||||||||
|||||K.M. Rafferty||||||||
|Clerk to the|managing|trustees||P. Roberts||||||||
|Members ofthe investment||||R,M.S, Allanson|||Trustee,|retired||investment|manager|
|sub-committee||||D.W. Arundale|||Trustee|||||
|||||D. Cawdery|||Trustee|||||
|||||T. Ryan|||Retired|stockbroker||||
|Independent|auditors|||Cocke, Vellacott
gi Hill||||||||
|||||Unit 28 City Business Centre||||||||
|||||Lower Road||||||||
|||||LONDON SE162XU||||||||
|Bankers||||The Co-operative|Bank|p.l.c||||||
|||||P.O. Box101||||||||
|||||3rd Floor, 1Balloon Street||||||||
|||||Manchester
M604EP||||||||
|Investment|adviser|||BRIWealth Management||PLC||||||
|||||BRI House||||||||
|||||Elm Court||||||||
|||||Meriden
Business|Park|||||||
|||||COVENTRY CVS 9RL||||||||
|Solicitors||||Shakespeare
Martineau||LLP|Stone King||LLP|||
|||||Solicitors|||Boundary||House|||
|||||Two Colton Square|||91Charterhouse|||Street||
|||||Leicester LE1 1QH|||London|EC1M 6HR||||
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|||||2022|2021|
|---|---|---|---|---|---|
|||||Total|Total|
||||Notes|f|E|
|Income from:||||||
|Donations
and|legacies|||83,624|116,921|
|Investment
income||||289,035|259,373|
|Total income||||372,659|376,294|
|Expenditure
on:||||||
|Raising funds||||13,286|11,548|
|Charitable
activities||||546,265|64,945|
|Total expenditure||||559,551|76,493|
|Net gains/(losses)|on disposal of investments|at book cost||49,875|19,764|
|Net income/(expenditure)||||(137,017)|319,565|
|Other recognised|gains and losses|||||
|Unrealised
gains/|(losses) on investments|||768,277|884,189|
|Net movement
in|funds|||631,260|1,203,754|
|Reconciliation
of|funds|||||
|Total funds brought forward||||9.229.979|8,026,225|
|Total funds carried forward||||9,861,239|9,229,979|
##
|||||||2022|2021||
|---|---|---|---|---|---|---|---|---|
|||||Notes|||f||
|Fixed assets|||||||||
|Investments|||||||||
|Investments||||8 (a)||8,971,806||8,137,507|
|Programme|related|investments||8 (b)||844,649||811,473|
|Total fixed assets||||||9,816,455||8,948,980|
|Current assets|||||||||
|Debtors|||||7,492||6,085||
|Cash at bank|and in|hand|||88,776||322,246||
|Iotal current|assets||||96,268||328,331||
|Liabilities|||||||||
|Creditors: amounts||falling|||||||
|due within|one year|||10|(51,484)||(47,332)||
|Net current|assets|||||44,784||280,999|
|Total assets|less current||liabilities|||9,861,239||9,229,979|
|Funds|||||||||
|Unrestricted|income|funds:|||||||
|General reserves||||11||5,206,868||5,329,540|
|Revaluation|reserve|||11||3,809,722||3,088,966|
|Long term loans reserve||||1'1||844,649||811,473|
|Total charity|funds|||||9,861,239||9,229,979|
|The financial|statements||were approved|by the board oftrustees|on 19July|2022 and signed on its behalf by;|||
|P. Devine||||||D.Cawdery|||
|Tt||||||Trustee|||
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||||||2022|2021|
|---|---|---|---|---|---|---|
|Auditors'|remuneration|from audit work|||4,050|4,000|
|Auditors'|remuneration|from non-audit||work|800|800|
|and after|crediting:||||||
|Profit on foreign currencies|||||37||
|Donations|and legacies||||2022
f|2021f|
|Donations|from circles|and provinces|||4,210|4,111|
|Donations|from members||||60,048|66,021|
|Tax recoverable
under||members'|gift aid||12,361|13,707|
|Legacies|||||7,005|33,082|
||||||83,624|116,921|
|Investment|income||||2022f|2021f|
|Income from
UK listed||investments|||289,035|258,351|
|Bank interest receivable||||||1,022|
||||||289,035|259,373|
##
##
|Expenditure
on raising|fund|s|||
|---|---|---|---|---|
||||2022|2021|
||||Total
E|Totalf|
|Irrvesunent
advisers'
r.osLs|||13,286|11,548|
|Analysis ofcharitable
activities|||||
|(a) Grants and loans|||2022|2021|
|Grants and non-secured|loans payable to individuals:||Total
E|Totalf|
|Grants made|||165,028|209,289|
|Non-secured
loans made|||663,884|455,021|
||||828,912|664,310|
|Less: recovered
during|the year||(327,755)|(649,516)|
|Total net grants
and loans|||501,157|14,794|
||||Number|Number|
|Recipients ofgrants
only {allto individuals)|||20|18|
|(b) Analysis of support|costs|||f|
|Staff costs (see note 7)|||22,624|22,280|
|Telephone|||230|253|
|Office expenses|||10,000|10,000|
|Exchange {gains)/losses|||(37)||
|Computer
costs|||1,351|3,220|
|Bank charges and general expenses|||1,430|1,134|
||||35,598|36,887|
|(c) Analysis ofgovernance||costs|2022|2021|
||||E||
|Auditors'
remuneration|—audit work||4,050|4,000|
|Auditors'
remuneration|—non audit work||800|800|
|Committee
expenses|||1,122||
|Profess i o na
I fees
—legal|fees||3,538|8,464|
||||9,510|13,264|
|Total charitable
activities expenses|||546,265|64,945|
##
|Trustees and employees
Staff costs were as follows:|Trustees and employees
Staff costs were as follows:|2022
f|2021|
|---|---|---|---|
|Wages and sa|Iaries|20,953|20,643|
|Socia I security|costs|1,671|1,637|
|||22,624|22,280|
##
|(a) Fixed|asset investments|asset investments|||Investments|
|---|---|---|---|---|---|
||||||portfolio|
|Valuation||||||
|At 1April|2021||||8,137,507|
|Disposals|||||(362,565)|
|Net movements
in cash held by brokers|||for investment||428,587|
|Unrealised|gains/(losses)|on revaluation|of investments||768,277|
|At 31March 2022|||||8,971,806|
|Historical|cost as at 31March 2022.||||5,162,084|
|Historical|cost as at 31March 2021||||5,048,541|
|All fixed asset investments||are held within the United||Kingdom.||
##
##
||The investm|ents ofthe charity at 31|ents ofthe charity at 31|ents ofthe charity at 31|ents ofthe charity at 31|March|March|2022 were|2022 were|2022 were|as follows:|Cost
Market value|Cost
Market value|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Holdings||Description||||||||||f|
||38,000||Aviva pic||||||||Ord. 25p|220,721|171,798|
||12,000||BHP Billiton pic||||||||Ord, NPV (Dl)|74,390|354,240|
||30,000||BP pic||||||||Ord. USD 0.25|120,740|112,605|
||52,000||BTGroup pic||||||||Ord. Sp|98,895|94,744|
||3,690||CRH||||||||Qrd Eur 0,32|101,911|113,357|
||15,000||Diageo pic||||||||Ord. 28935185|38,082|579,525|
||20,000||Experian
pic||||||||Ord. USD 0.10|101,664|590,200|
||21,500||GlaxoSmithKline|pic|||||||Ord. 25p|47,387|354,148|
||152,650||GCP Infrastructure||Investments||||Ltd||Ord. 1p|198,715|168,526|
||28,333||HSBC Holdings
pic||||||||Ord. USD 0.50|168,138|148,861|
||144,142||Lloyds Banking Group|||pic|||||Ord, 10p|148,371|67,833|
||632,654||M 5 G Charibond||Inc|||||||811,070|746,722|
||19,500||MR G pic||||||||Ord. Sp|10,933|43,134|
||26,459||Natwest
Grp PLC|(previously||||RBS)|||Ord. El|142,922|57,125|
||18,000||Pearson
pic||||||||Qrd. 25p|136,108|135,108|
||11,000||Persimmon
pic||||||||Ord. 10p|156,126|236,610|
||30,000||Polar Capital Technology||||Trust||pic||Ord. 25p|30,020|683,400|
||19,500||Prudential
pic||||||||Ord. Sp|65,770|221,130|
||27,000||RELX pic||||||||Ord. 14 51/116p|160,829|643,410|
||6,100||Rio Tinto pic||||||||Ord. (Reg) 10p|56,480|370,941|
||5,333||Severn Trent pic||||||||Ord. 97 17/19p|43,698|164,150|
||11,000||Shell Pic||||||||Ord. Euro 0.07|251,210|231,935|
||1,000,000||The Charities
Property|||Fund||||||1,029,602|1,444,400|
||10,000||Unilever
pic||||||||Ord. 3 1/9p|14,300|345,500|
||54,545||Vodafone
Group|pic|||||||Ord. USD 0.20 20/21|109,692|68,094|
||Invesunenus|listed on the UK Stock Exchange||||||||||4,337,774|8,147,496|
||Cash held as|part ofthe investment
portfolio||||||||||824,310|824,310|
||Total investments
as at31March||||2022|||||||5,162,084|8,971,806|
||*These items||represent
material||investments||||that|are|over 5% by value ofthe|portfolio.||
|8.|(b) Programme||related investments|||||||||2022
f|2021
6|
||Secured recoverable
loans supporting|||||the charitable||||objectives (see below)||844,649|811,473|
||Analysis ofmovements
in secured||||recoverable||||loans|is|as below:|||
||Loans recoverable
brought forward|||||||||||811,473|765,138|
||Transfers (to)/from
non-secured||||loans|||||||71,150|91,535|
||Repayments|received
during the||year||||||||(37,974)|(45,200)|
||Loans recoverable
carried forward|||||||||||844,649|811,473|
##
|During
the year to 31 March
2022 administration
Association
Limited as follows:|expenses
were
recharged
to the charity
by Th|e Catenian|
|---|---|---|
||2022
f|2021f|
|Office Expenses|10,000|10,000|
|Salaries|22,624|22,280|
||32,624|32,280|