THE SAMUEL SMITH'S AND SPENCER'S CHARITIES For the year ended 31 December 2022 Accoumrs Registered Charity No. 240936
| Page | ||
|---|---|---|
| Annual Report of the Trustees |
1-2 | |
| Independent Examiner's |
Report | |
| Statement of Financial |
Activities | |
| Balance Sheet | ||
| Notes on Accounts | 6-]0 |
| For the year ended | 31 | December 20 | 22 | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Accumulated | Endow- | ||||||||
| Income | Designated | ment | Total | Total | |||||
| Notes | fund | fund | fund | 2022 | 2021 | ||||
| K | E | ||||||||
| Income and endowments | |||||||||
| Income from Investments | 57,215 | 57,215 | 53,533 | ||||||
| Rental income | 2,013 | 2,013 | 1,297 | ||||||
| interest receivable | 490 | 490 | 477 | ||||||
| Other income | |||||||||
| Total incoming resources |
59,718 | 59,718 | 55,307 | ||||||
| Other expenditure | |||||||||
| Fundraising costs |
|||||||||
| Cost of generating funds |
|||||||||
| Stockbrokers fees |
2,418 | 11,904 | 14,322 | 14,663 | |||||
| Charitable expenditure |
|||||||||
| Pensions | 24,580 | 24,580 | 22,245 | ||||||
| Other charitable gifts |
11,840 | 11,840 | 6,780 | ||||||
| Support costs | 16,248 | 16,248 | 15,287 | ||||||
| Charitable activities |
2,319 | 2,319 | 2 148 | ||||||
| Total resources expended | 54,987 | 2,418 | 11,904 | 69,309 | 61,123 | ||||
| Net income/(expenditure) | |||||||||
| before other recognised | gains and losses | 4,731 | (2,418) | (11,904) | (9,591) | (5,816) | |||
| Profit/(loss) on investment Realised Unrealised |
assets | (32,430) ~5,633 |
(145,676) ~2B,639 |
(178,106) ~32,272 |
42,628 177,014 |
||||
| Net movement in funds |
4,731 | (40,481) | (184,219) | (219,969) | 213,826 | ||||
| Balance at 1 January 2022 | 161,035 | 328,7 | I0 | 1,780,833 | 2,270,578 | 2,056,752 | |||
| Balance at 31 December | 2022 | 165,766 | 288,229 | 1,596,6 I4 | 2,050,609 | 2,270,578 |
| Notes | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| Fixed assets | ||||||||
| Tangible fixed assets |
80,158 | 80,158 | ||||||
| Investments | 1,935,111 | 2,159,622 | ||||||
| 2,015,269 | 2,239,780 | |||||||
| Current assets | ||||||||
| Cash at bank and in | hand | 40,743 | 35,938 | |||||
| 40,743 | 35,938 | |||||||
| Creditors: amounts |
falling | |||||||
| due within one year | (5,403) | (5,140) | ||||||
| Net current assets | 35,340 | 30,798 | ||||||
| Total assets less current | ||||||||
| liabilities being total |
net assets | 2,050,609 | 2,270,578 | |||||
| Endowment fund |
1,596,614 | 1,780,833 | ||||||
| Unrestricted funds |
||||||||
| Accumulated income fund |
I65,766 | 161,035 | ||||||
| Designated fund |
288,229 | 328,710 | ||||||
| 2,050,609 | 2,270,578 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 2 | ||||||
| Other charitable | gifts | |||||
| May gifts | 2,420 | 1,800 | ||||
| Cash payments | in lieu of coal | 6,580 | 2,640 | |||
| Christmas | gifts to pensioners | 2,160 | 1,720 | |||
| Bibles | 180 | 180 | ||||
| Relief in Need | 500 | 440 | ||||
| 11,840 | 6,780 | |||||
| Support costs | ||||||
| Clerk | 8,820 | 8,250 | ||||
| Almoner | 3,960 | 3,650 | ||||
| IT capital costs &support | I,440 | 1,320 | ||||
| Insurance | 662 | 654 | ||||
| Postage and poundage | 495 | 503 | ||||
| Stationery | and sundries | 758 | 46 | |||
| Bank fees | 113 | |||||
| Repairs | 864 | |||||
| 16,248 | 15,287 | |||||
| 3 | Charitable | activities | ||||
| Independent | examiners' | fee | 2,3 I9 | 2,148 |
| Freehold land at Dugglns Lane, Tile Hill, Coventry |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost | 80,158 | 80,158 | |||||||||
| The charity purchased the freehold land on 29June 1995and |
in the opinion | of the | trustees | Its current | |||||||
| market | value is not materially different from the amount reflected |
in the | accounts. | ||||||||
| 6 | Fixed asset invesments | ||||||||||
| 2022 | 2021 | ||||||||||
| Quoted investments | |||||||||||
| Market value at 1 January 2022 | 2,159,622 | 1,953,893 | |||||||||
| Purchases at cost |
2, 'I 62,861 | 271,147 | |||||||||
| Disposals at market value b/fwd |
(2,360,122) | (224,948) | |||||||||
| (Decrease)/Increase in cash awaiting investment Unrealised gain/ (loss) in the year |
5,022 ~32,272 |
(17,484) 177,014 |
|||||||||
| Market value at 31 December 2022 | 1,935,1 I1 | 2,159,622 | |||||||||
| Historical cost at 31 December 2022 | 1,949,234 | 1,699,657 | |||||||||
| 2022 | 2021 | ||||||||||
| Market | Market | ||||||||||
| Endowment fund |
value | Cost | value | Cost | |||||||
| nil (1185) 903 31 Group ord 0.738636 COIF Income shares |
16,406 | 1,786 | 17,171 18,565 |
11,24 I 1,786 |
|||||||
| nil (35) nil (263) nil (68,650) nil (320) nil (304) nil (28,462) nil (5,703) nil 20625 Aberforth Unit Trust Managers Ashtead Group Assura ord 0.10 AstraZeneca Aveva Group ord 0.03556 Bailie Gifford &Co Japanese Barclays PLC BBGISICAV S.A. ord NPV |
UK Small Co. Income W4 |
9,735 15,627 47,918 27,770 10,348 42,778 10,665 36,218 |
7,950 6,298 42,147 11,355 10,740 40,790 11,018 28,003 |
||||||||
| nil (1,147) nil (5825) nil (41,270) nil (155) nil (519) nil (27910) nil (25897) nil (435) nil (34,860) nil (12,121) nil (4987) nil (995) nil (548) nil (20,120) nil (692) BHP B P ord USD 0.25 Blackrock Continental European Income D British American Tobacco Diageo ord 0.28 Doric Nimrod Air One Ltd ord Pref European Fund - Alliance Bernstein Experian Fidelity UCITS Icav US Quality Income E FIL Investment Services Franklin Templeton Fund Mgt - Emrging Mkts GlaxoSmithKIine Halma Henderson Investment Funds Ltd European S1 Henderson Investment Funds |
25,228 19,252 79,424 4,237 20,947 8,233 31,413 15,799 239,445 18,047 9,514 15,986 17,536 26,236 9,467 |
22,175 30,991 61,089 4,258 10,064 27,840 26,621 4,997 198,652 11,395 6,858 13,361 7,732 25,230 5,529 |
|||||||||
| Balance c/fwd to page 9 | 16,406 | 1,786 | 777,559 | 628,120 |
| Fixed asset | investments (continued) |
|||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Market | Market | |||||
| Value | Cost | Value | Cost | |||
| Endowment | fund (continued) | 2 | ||||
| Balance b/fwd | from page 8 | 16,406 | 1,786 | 777,559 | 628,120 | |
| nil (26231) nil (23,352) |
Hermes Investment Fund International Public Partner ord 0.0001 |
27,692 43,098 |
27,285 38,593 |
|||
| nil (18677) nil (26400) nil (3930) nil (21,110) nil (103) nil (2810) nil (3754) nil (1025) nlf (240) nil (3887) nil (3800) nil (975) |
JP Morgan American Investment Trust 0.05 JP Morgan Asset Mngmnt Emerging Mkts C Legal and General Group ord 0.025 Lloyds Banking Group ord 0.1 London Stock Exchange Group ord Matthews Asia SICAV Asia exJapan Div S M&G Pic ord 0.05 National Grid Ocado Group Pimco Gbl Invrs Gbl Inv Grad Cred Hgd instl Polar Capital Funds A&A Intel S Prudential 0.05 |
143,253 51,348 11,692 10,09 I 7, I38 41,953 7,489 10,863 4,027 52,980 59,242 12,426 |
78,444 42,659 5,890 11,597 4,860 28,044 7,578 9,505 5,366 52,925 35,492 10,094 |
|||
| 1,530,000 (nil) nil (575) nil (2315) nil (38015) nil (972) nil (344) nil (1449) nil (2,217) nil (149) nil (451) nil (25784) nil (16411) nil (22772) |
Quilter Invrs Charity Auth Inv Fds QC Global Reed Elsiver Royal Dutch Shell "B" Royal London Unit Trust Managers Inc Z Sands Capital Funds Schroder Inv Mgmt Segro ord 0.10 Smith (DS) ord 0.10 Sparx Funds pic Unilever ord 0.031111 UK Govt 4.5%Snr Bnds 07/12/2042 UK Govt 1,5% Gilt Bds 22/07/2047 UK Govt 0.125%Gilt Bds 07/09/2036 |
Ir | 1,559,070 | 1,583,550 | 13,812 37,559 54,666 46,014 62,357 20,815 8,509 19,569 17,794 41,716 17,599 41,657 |
8,018 23,266 53,824 34,224 43,293 3,733 6,841 17,900 I I,905 40,152 20,289 35,820 |
| nil (426) nil (282) nil (415) nil (350) |
Vanguard Funds FTSE250 UCITS ETF Vontobel Asset Management Vulcan Global Value Fund Whitbread ord GBP0.76797385 Cash awaiting investment |
17,160 | 17,160, | 15,477 31,138 58, I87 10,483 6,376 |
12,871 30,954 40,653 11,670 6,376 |
|
| Total | 1,592,636 | 1,602,496 | 1,764,579 | 1,388,241 |
| Fixed ass | et investm | ents (continued) |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||||||
| Market | Market | ||||||||||
| Designated fund - Reserve fund |
Value | Cost | Value | Cost | |||||||
| 2 | 2 | 6 | 9 | ||||||||
| nil (82) nil (670) |
Astrazeneca ord British American |
USD0.25 Tobacco o |
0.25 | 7,116 18,314 |
5,867 8,593 |
||||||
| 11,534 | (23,068) | Charities Property |
Fund | Inc | 16,830 | 14,996 | 31,642 | 29,991 | |||
| nil (533) nil (770) |
Compass Group ord 0.1105 intermediate Capital Group ord |
8,800 16,894 |
4,339 9,112 |
||||||||
| nil (23) | London Stock Exchange | Group o | 1,594 | 1,085 | |||||||
| nil (1490) | M&G ord 0.05 | 2,973 | 3,275 | ||||||||
| 30,742 | (30,742) | Mayfair Capital Investment |
Prop | 26,063 | 28,000 | 28,546 | 28,000 | ||||
| nil (4495) | NB Private Equity |
Ptnrs class A | 83,158 | 46,682 | |||||||
| nil (538) | Persimmon ord 0.10 |
15,365 | 8,139 | ||||||||
| 260,000 (nil) | Quilter Invrs Charity Auth |
Inv Fds | 0 | 264,940 | 269,100 | ||||||
| nil (190) | Renlshaw ord GBP0.20 |
9,082 | 10,711 | ||||||||
| nil (440) | Rio Tinto | 21,525 | 19,873 | ||||||||
| nil (1150) | Sands Capital F Emrging | Mkts A | 27,244 | 18,768 | |||||||
| nil (705) | Smith Group ord | 0.375 | 11,135 | 7,802 | |||||||
| nil (240) | Vanguard lnv Grd Bond |
Idx | ETF | 26,892 | 27,064 | ||||||
| nil | (41,456) | VH Gbl Sustainable Energy |
Qpps | F | 44,358 | 41,710 | |||||
| Cash awaiting investment |
34,642 | 34,642 | 40,405 | 40,405 | |||||||
| Total | 342,475 | 346,738 | 395,043 | 311,416 | |||||||
| Total | fixed asset investments | 1,935,111 | 1,949,234 | 2,159,622 | 1,699,657 | ||||||
| Analysis | ofassets | between funds | |||||||||
| Accumulated | |||||||||||
| income | Designated | Endowment | Total | ||||||||
| fund | fund | fund | funds | ||||||||
| 6 | 2 | f | |||||||||
| Fund | balances | at 31 December 2022 | |||||||||
| are represented | by: | ||||||||||
| Tangible fixed assets |
80,158 | 80,158 | |||||||||
| Investments | 342,475 | 1,592,636 | 1,935,111 | ||||||||
| Net current assets/(liabilities) |
165,766 | (54,246) | (76,180) | 35,340 | |||||||
| Total | net assets | 165,766 | 288,229 | 1,596,614 | 2,050,609 |