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|---|---|---|---|
|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|
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||||Unrestricted|Funds|||
|---|---|---|---|---|---|---|
||||Expendable||Total|Total|
|||NOTE|Endowment|Income|2021|2020|
|||||||6|
|INCOME|||||||
|Investment
income||||2,228,905|2,228,905|3~,738|
|TOTAL INCOME|||||~28,905|3~,738|
|EXPENDITURE|||||||
|Costa ofgenerating|funds|||76,704|76,704|75,949|
|Charitable activities||||1,911,135|1,911,13S|2473,652|
|TOTAL EXPENDITURE||||1,987,839|1,987,839|2,749,601|
|Transfers between|funds|8|500,000|(300,000)|||
|GAINS/(LOSSES) ON INVESTMENTS|||||||
|Realised||9|616,178||616,178|123~|
|Unreallsed||9|25398,957||25398,957|19,465%0|
|NET INCOME/(EXPENDITURE)|||26315,135|(258,934)|26~,201|(18,305~)|
|(Losses)/Gains
an foreigne~|||(25,602)|(387)|(25,989)||
|NET MOVEMENT|IN FUNDS||26389,533|(259,321)|26~,212|(18,505363)|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|farward||106,713,153|837,460|107~,613|126A56A76|
|BALANCE CARRIED FORWARD|||1382
86|578,139|133,780425|107~,613|
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|||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|
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|||2021|2020|
|---|---|---|---|
|Income|from Investments|2,028~|3,437,7S7|
|Income|from Interest|200&4|147981|
|Interest|on cash deposits|118||
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|||||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|
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|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||
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||||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|
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|'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||
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|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||
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||Unreshicted|Unrestricted|||
|---|---|---|---|---|
||Expendable|income||2021|
||Endowment||||
|Investments|129,136,679||129,136Ai79||
|Cash at Bank|4A$5,007|559%8|4,625,510||
|Debtors||47486||47486|
|Creditors||282I50||28,850|
||133202,686|578,139|133,7803!25||
||Unrestdcted|Unrestricted|||
||Expendable|Income||2020|
||Endowment||||
|Investments|100,889,121||100,889,121||
|Cash at Bank
Creditors|5,824,032|880410
43~)|6,7042N2
43~||
||106,713,153|837,460|107|Ai13|
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