British Charity Fund - Berne
Trustees’ Report 2021
Trustees and their activity
Following 2020, when due to Covid restrictions no meetings were held, the previous annual rhythm of 2 formal meetings was resumed, but this time in June and November. Most of our activities (supporting recipients of funds and investment decisions) are carried out through the Internet by e- mail.
Most trustees are actively involved in providing support and advice to our recipients in their area of the country.
One trustee resigned and has not, so far, been replaced but we are still 8.
Investments
The year 2021 was quite successful for our investments, which increased in value by just over CHF 100’000.
Income from Investments
Yield on our investments at CHF 32,644 fell below our target of 4% despite an increase of CHF 2,000.
Expense of CHF 46,014 was, for the first time, more than our income of CHF 44,264.
Recipients of Funds
We now provide regular support to 4 households on a regular monthly basis. We also supported five others on a less regular basis with one-off payments.
Our efforts to increase our giving are finally paying off, helped by the fact that two other charities catering for expats have reduced their activity.
Total disbursements amounted to CHF 41,500 against direct revenue of CHF 32’644.
British Charity Fund - Berne Financial Statement
Charity Fund Accounts 2021 as at 31.12.2021
Accounts
| Account | Description | Balance | Opening |
|---|---|---|---|
| CHF | CHF | ||
| BALANCE SHEET | |||
| ASSETS | |||
| 1000 | Cash | ||
| 1020 | Bank current account BEKB | 3,594.50 | 6,993.35 |
| 1030 | Securities account (Money-Net) | 192,969.27 | 227,199.58 |
| 1050 | Securities valuation | 1,016,706.30 | 861,890.40 |
| 1060 | Conversion transit cash | ||
| 1070 | Provisions at year-end | ||
| 1100 | Securities Portfolio | -103,281.60 | 17,190.25 |
| 1150 | Withholding tax to be recovered | 10,743.06 | 9,204.50 |
| TOTAL ASSETS | **1,120,731.53 ** | 1,122,478.08 | |
| LIABILITIES | |||
| 2000 | Agreed payments not yet disbursed | ||
| 2400 | Treasurer for payments made | ||
| 2410 | Expense Payments due | ||
| 2900 | Brought forward profit or loss | -25,362.30 | |
| 2950 | Capital Value of Fund | -1,122,478.08 | -1,097,115.78 |
| Profit (-) or loss(+) of the current year | 1,746.55 | ||
| TOTAL LIABILITIES | **-1,120,731.53 ** | -1,122,478.08 | |
| Difference in accounts | |||
| INCOME & EXPENSE STATEMENT | |||
| EXPENSE | |||
| 3000 | Loss on valuation / disposal of investments | 200.00 | |
| 3100 | Bank and current account charges | 124.20 | |
| 3120 | Courtage and Taxes | 823.45 | |
| 3130 | Stamp duty | 155.25 | |
| 3140 | Safekeeping fees | 2,436.65 | |
| 3200 | Payments to individuals | 36,499.35 | |
| 3300 | Payments to other Organizations | 5,000.00 | |
| 3500 | Trustees' expenses ( Meetings) | 362.30 | |
| 3510 | Trustees' expenses for recipients | 211.10 | |
| 3800 | Miscellaneous expenses | 201.90 | |
| 3900 | Excess of Income over Expense at year-end | ||
| TOTAL EXPENSES | 46,014.20 | ||
| INCOME | |||
| 4000 | Profit on valuation / disposal of investments | -11,623.20 | |
| 4100 | Dividends and assimilated income | -32,644.45 | |
| 4150 | Accrued interest at year-end | ||
| 4300 | Bank interest | ||
| 4500 | Repayment of disbursements | ||
| 4800 | Donations | ||
| 4900 | Excess of Expense over Income at year-end | ||
| TOTAL INCOME | -44,267.65 | ||
| Excess(-) Deficit(+) from Income & Expense Statement | 1,746.55 |
-1-
British Charity Fund, Berne Audit Report for the Financial Year 2021
I have examined the accounts submitted by your Treasurer, Nigel Coombs, in accordance with the mandate given to me.
I carried out the audit between mid-July and 10 August 2022 and found the accounts to be kept in an orderly and accurate fashion. All the documents required for my review were produced.
The accounts show income of Fr44,267.65 and expenditure of Fr46,014.20, resulting in a deficit of Fr1,746.55, and reducing the capital value of the fund to Fr1'120'731.53.
I can confirm that the Treasurer's Report, taken in conjunction with the Financial Statements printed out from the Banana accounting system represent a fair and accurate picture of the Fund's position at the end of 2021.
I accordingly recommend that the Trustees accept the accounts as presented and that the Treasurer be thanked for the work he has done.
Hector Davie