2021-03-31-accounts - P F Charitable Trust

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			Page
Reference and Administrative		Information
Trustees' Annual Report			2-5
Independent Auditor's	Report		6-9
Statement ofFinancial	Activities		10
Cash Flow Statement			12
Notes to the Finandai	Statements		13-19

		Nate	2021	2020
NET CASH ABSORBED A~S (see below)	BY OPERATING		(2375,814)	(6374,763)
Cash flows from investing activities Dividends snd interest from investments ~from the sale of invesbnents			2,228,905 6,239.091	3,585,738 7,453,843
Purchase ofinvestments			8A71,514	4,9952!32
Net cash provided by investing	activities		3518	6,043,749
Change in cash in period			(2,079~)	5,3072)94
Cash brought forward			6,704,842	3,396,948
Cash canted forward			4,625,510	6704,842
RECONCII.IATION OFNET MOVEMENT IN
EUNDS TO NET CASH PLOW	FROM OPERATING
ACTIVITfES
Net movement in funds far the	period ended 31 March		26~,212	(22,144,771)
2021 (as per the Statement of Financial Activities, page
10)
Adjustments for:
Dividends and interest from	investments	3	(2,228.905)	(3~,738)
Realised (gain) on the sale ofinvestments Unreatlsed (gain)/loss in revaluing investments		9 9	(616,178) (25,398,957)	(125300) 19~,320
(Decrease)/Increase in debtors		10	(47,486)
(Decrease)/fncmm in creditars		11	14,500	13,726
Net cash absorbed by operating	actlvlties (see above)		2,075,814	6374,765

				2021	2020
					6
Investment	Management	Fees (after fee adjustment/rebetes)		28,736	24,081
Custody and Admlnistmtlon			Fees	47,968	51868
				76,704	78 49

ABFThe Soldiers' Charity	80,000
institute ofCancer Rssear*	50,000
Bacon Hospice	50,000
Scar Free Foundation	40,000
(The) Alice Marshall Hall	30,000
Grants above 620,0000and up to 630,000 Grants above 55,000and up to620~	176~ 486~
Grants fSA)00 and below	988780
Total for the year

			2021	2020	2021	2020
			No.	No.	6	6
The prevention of	relief afpoverty		15	11	77,000	46,000
The advancsinent	ofeducation		31	46	151,500	318,000
The advancement	ofreligion		3	7	37,500	68,500
The advancement	ofhealth or the saving oflives		170	186	1P42,000	1~500
The advancement	of citizenship or community		14	20	100,000	64,000
development
The advancement	ofthe arts, cuhure, heritage or		31	43	127,780	229,280
The advancement	ofamateur sport		6	4	28,000	21,000
The advancement	afenvironmental protection or		7	13	29,000	139,500
improvement
The rsttef af those	in need by reason ofyouth, ags, Bl-		46	57	144,000	2H,500
health, dlsaMity, financial hardship or		other
disadvantage
The promotion of the~or of	the efficiency of the armed forces of the efficiency of the polio», flra and		4	4	85,000	14,000
rescue services or	ambulance services
The advancement	of human rights, conflict rssolutian of		1	1	2,500	2,000
recondltatton or	the promotion of religious or	racial
harmony orequaflty and diversity
The advancement	ofanimal welfare		6	4	17,000	11,000
Any other purposes that are recognised as charitable				1		56,000
under sub-section	(4)ofthe Charities Act 2006s.2		334	397	~41~	~5~
Refund ofunused donation from previous year Support and Governance casts (sesnate 7)					(2,000) 71~	238 72
Charitable Activities			334	397	2,911,135	73652

'7.	SUPPORT	SUPPORT	AND	AND	GOVERNANCE	GOVERNANCE	GOVERNANCE	COSTS	COSTS
												Total	Total
												2021	2020
												6
	Legal and	Prohsetonal Fees										60,000	60,000
	Auditor'4	retnuneradan										10,000	IO,OOO
	Auditor'4	remuneration prior					year	under/(over)		accrual		500	(400)
	Secretary'e	fees and expentws										(200)	17,266
	IT											1,140	1,140
	Bank charges											415	133
	Other charges												150~
	ToCharitable			activities									238972
8.	MAINTENANCE				OFENDOWMENT				FUND
	In acconiance			with the Trustees'				intentions		to preserve	capital and	enhance income levels,
	transfer of6500,000was made fram							the	Income Fund to the Expendable			Endowtnent	Fund (202	0
	6794,860),
	FIXEDASSETINVESTMENTS
	Movement		in	fixed asset investments
					Unlisted	Securities				Listed Sacurlllee		Total	Total
					2021		2020			2021	2020	2021	2020
												6		6
	value Market				9,117,934		Sr83787		9L771,187		II4,193365	100&9,121	122689,132
	brought forward
	Ac0uieitlone at				907486		14952)32		7463,938		3,500AXO	Sr471314	4.9952I32
	cost
	Less disposal				(XIAI61)		(1,409,082)		(5,937,230)		(6844,762)	(6%9,091)	(7,433,843)
	proceeds
	Realised gains on				15,989		96d80			600,189		616,178
	disposal
	Gains/0oeara) on				8052I75		4402117		24r393,052		(19,906,237)	25498,957	(19r465320)
	revaluation
	Market Value			IMere93			9,117,934		11sr591,186		91P7L167	129,136879	180489,121
	Carried Forward
	H/starica1 Casts				9369~		9,663M		92,06I,907		90436373	101%V51	99,499,779
	Geegrapldcal
	Analysis
	United Ktngdom				803,558		IPI9471		108,072r846		86,766,395	106,876r403	87,795,766
	investments
	Overeeee				9,741,935		8,088463		10d18340		SAKl4,792	20,260,274	13,093,355
	Investments
				10r545r493			9r117r934		Ilsrsstr186		91771r187	129r136r679	109rsasrt21

9,	FIXEDASSETINVESTMENTS	(CONTD)	(CONTD)
	The fo0owing investments comprise	in excess ofthe 5%ofthe value ofthe port/olio:
	Investment		Holding
	Stonehage Fleming Global Erluittes Fund 11		22319,91I	56,647,936
	hhare Core FTSE100UCITS ETF		1,590,182	10509,513
	Evenlodge Global Income Fund Stonehage~UKEquity Fund		8,036472 4,3279M	10~1,287 7,177,808
	Plmco Global Advisors IRI.LTD	GISIncome Hedged	650,125	6,793,809
10.	DEBTORS
			2021
	Income Due		47,486
			47rHI6
11,	CREDITORS —amounts falling	due within one year
			2021
	Accruals		28,850