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||INDEX|Page|
|---|---|---|
|General Information|||
|Report ofthe Trustees||2-5|
|Independent
Auditors'|Report|6-8|
|Statement ofFinancial|Activities||
|Balance Sheet||10|
|Statement ofCashflows|||
|Notes to the Accounts||12-19|
##
|Settlement|dated:|dated:||15th November
1968|15th November
1968||
|---|---|---|---|---|---|---|
|Settlor:||||SirWilliam Benyon|||
|Trustees:||||Catherine Rose Ingrid Haig (Chairman)|||
|||||The Rt. Hon. The Lord Benyon||PC|
|||||The Lady Zoe Lavinia Beatrice||Benyon|
|||||Lady Elizabeth Benyon|||
|||||Melissa Anastazia|Victoria Owston||
|||||Richard Ian David|Bampfylde||
|||||Richard Gareth Griffiths|||
|Secretary|to|the Trustees:||Michele De Angeli|(appointed|5 October 2020)|
|||||Alexander Reid (retired 22 July||2020)|
|Charity Registration|||Number:|258123|||
|Principal|Office:|||Englefield Estate Office|||
|||||Englefield Road|||
|||||Theale|||
|||||Reading|||
|||||Berkshire RG7 5DU|||
|Solicitors:||||Payne Hicks Beach|||
|||||10New Square|||
|||||Lincoln's
Inn|||
|||||London WC2A 3QG|||
|Stockbrokers||and||Stonehage Fleming|||
|Investment|Managers:|||15Suffolk Street|||
|||||London|||
|||||SWIY4HG|||
|||||CCLA Investment|Management|Ltd|
|||||Senator House|||
|||||85Queen Victoria|Street||
|||||London|||
|||||EC4V 4ET|||
|Auditors:||||Saffery Champness|LLP||
|||||71 Queen Victoria|Street||
|||||London|||
|||||EC4V 4BE|||
|Bankers:||||Lloyds pic|||
|||||24 Broad Street|||
|||||Reading|||
|||||Berkshire RG1 2BT|||
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
||||||Permanent|Funds|Funds|
|||||Unrestricted|Endowment|year ended|year ended|
|Note||||Funds|Fund|31stMarch 2021|31stMarch 2tt2t/|
|||||||6||
||INCOME|||||||
|2|Investment
Income|||197,416|245,416|442,832|436,270|
||TOTAL INCOME|||197,416|245,416|442,832|436,270|
||EXPENDITURE|||||||
||Raising Funds|||||||
||Investment
management|costs|||19,764|19,764|19,120|
|3|Property costs|||62,316||62,316|88,758|
||Charitable
activities|||||||
|4|Donations|||359,863||359,863|909,444|
|5|Supporting
Education||||||12,155|
||TOTAL EXPENDITURE|||422,179|19,764|441,943|1,029,477|
||NET EXPENDITURE BEFORE|||(224,763)|225,652|889|(593,207)|
||GAINS/LOSSES ON INVESTMENTS|||||||
|9|Gains/(Losses)
on revaluations||and disposals|||||
||ofinvestments
assets||||2,451,495|2,451,495|(960,793)|
||NET (EXPENDITURE)/INCOME|||(224,763)|2,677,147|2,452,384|(1,554,000)|
||Transfers
between
funds|||||||
|10|Transfer from total return|for application||399,224|(399,224)|||
||NET MOVEMENTS IN|FUNDS||174,461|2,277,923|2,452,384|(1,554,000)|
||RECONCILIATION
OFFUNDS|||||||
||TOTAL FUNDS BROUGHT FORWARD|||69,526|14,461,892|14,531,418|16,085,418|
||TOTAL FUNDS CARRIED FORWARD|||243,987|16,739,815|16,983,802|14,531,418|
||See note 21for the previous years Statement|||OfFinancial Activities|comparati ves.|||
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|Note|||2021|2020|
|---|---|---|---|---|
||FIXEDASSETS||||
|8|Investment
Properties||3,850,000|3,850,000|
|9|Investments||13,307,483|11,071,752|
||Total Fixed Assets||17,157,483|14,921,752|
||CURRENT ASSETS||||
|11|Sundry Debtors||47,764|36,957|
|12|Cash at Banks||181,055|49,565|
||Total Current
Assets||228,819|86,522|
||CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR||(182,500)|(146,856)|
||Net Current
(Liabilities)/|Assets|46,319|(60,334)|
||CREDITORS: AMOUNTS FALLING DUE IN||||
||MORE THAN ONE YEAR||(220,000)|(330,000)|
||TOTAL NET ASSETS||16,983,802|14,531,418|
||Represented
by:||||
|16|Unrestricted
Funds||243,987|69,526|
|16|Permanent
Endowment|Fund|16,739,815|14,461,892|
||TOTAL FUNDS||16,983,802|14,531,418|
|||I.|||
||Trustee|Trustee|||
||Catherine
Haig|Richard Benyon|||
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||||Note|2021|2020|
|---|---|---|---|---|---|
|Cash used in operating
activities|||20|(527,106)|(591,598)|
|Cash flows from investing|activities|||||
|Interest and dividends||||442,832|436,270|
|Purchase ofinvestments||||(1,750,060)|(648,26'4)|
|Movement
in cash held for invesnnent||||172,881|(400,532)|
|Proceeds from sale ofinvestments||||1,792,943|1,217,915|
|Cash provided by investing|activities|||658,596|605,389|
|Increase in cash and cash|equivalents|in the year||131,490|13,791|
|Cash and cash equivalents|at the beginning ofthe year|||49,565|35,774|
|Cash and cash equivalents|at the end|ofthe year|12|181,055|49,565|
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||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|2|INVESTMENT INCOME|||||||||f|
||Rent||||||||197,416|189,747|
||Dividends||||||||230,928|229,869|
||Interest||||||||14,488|16,654|
||||||||||442,832|f436,270|
|3|PROPERTY COSTS||||||||||
||Heat and Light||||||||9,465|9,656|
||Property Repairs||||||||40,223|66,385|
||Rent &Rates||||||||673|568|
||Insurance||||||||1,183|446|
||Other||||||||2,380|3,348|
||Management
Charge||||||||6,000|6,000|
||Governance
Costs (15%)||||||||2,392|2,355|
||||||||||62,316|f88,758|
|4|DONATIONS||||||||||
||Church
/ Religion||||||||47,023|44,867|
||Conservation
/ Heritage|||/ Arts|||||18,000|45,946|
||Youth / Education||/ Community||||||186,090|663,521|
||Social &Welfare|/|Support||||||82,925|49,200|
||Overseas|||||||||13,000|
||Medical Research||/ Support||||||9,270|63,566|
||HM Forces||||||||3,000|16,000|
||||||||||346,308|896,100|
||Governance
Costs||(85%)||||||13,555|13,344|
||||||||||f359,863|f909,444|
||Breakdown
between institutions||||and individuals:||||||
||To institutions||||||||345,958|894,350|
||To individuals||||||||350|1,750|
||||||||||R3463M|f896,100|
||The Trustees have taken the statutory|||||exemption,|provided|by|Charity Law in England|and Wales,|
||which allows them|to not||provide|the|names ofgrant recipients|||and the amounts ofthese grants||
||during the lifetime|ofthe settlor's|||spouse.||||||
|5|SUPPORTING
EDUCATION||||||||||
||Englefield
Schools||Days|||||||sar 155|
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|INVESTMENTS|||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||f|
|Market value at 1stApril 2020|||||||||11,071,752|12,201,664|
|Additions|||||||||1,750,060|648,264|
|Disposals|||||||||(1,792,943)|(1,217,915)|
|Gains/(Losses)
on revaluations|||||and disposals||||2,451,495|(960,793)|
|Increase/ (Decrease) in cash|||held for investment||||||(172,881)|400,532|
|Market value at 31st|March|||2021|||||f137307,483|817,871,772|
|Cost at 31stMarch 2021|||||||||f10,425,022|f10,271,979|
|The portfolio consists|ofthe||following|||categories|ofinvestments;||||
||||||||||At market|value|
||||||||||2021|2020|
|Venture Funds|||||||||250,758|284,000|
|Liquidity
Fund||||||||||66,000|
|Equities
—Quoted|||||||||4,460,168|3,339,168|
|Alternative
Strategies|||||||||851,413|538,470|
|Fixed Income|||||||||1,423,050|1,333,204|
|Multi Assets Funds:|||||||||5,553,785|4,569,720|
||||||||||12,539,174|/0,130,562|
|Cash Accounts|||||||||768,309|941,190|
||||||||||13,307,483|11,071,752|
|Within these categories|the|following||||investments|had a market|value greater than 1500,000:|||
||||||||||2021|2020|
|||||||||||f|
|COIF Charities Investment||Fund Income Units|||||||5,553,785|3,603,910|
|SFGlobal Equities Fund Class A Income|||||||||4,460,168|3,339,168|
|Plain Andrews
Unit Trust FD||||GBP||||||965,811|
|TOTAL RETURN|||||||Endowment||Unapplied|Total|
||||||||||totalreturn|Endowment|
|Brought forward
1 April 2020||||||||14,195,617|266,275|14,461,892|
|Movements|||||||||||
|Investment
returns
(dividends||||and interest)|||||245,416|245,416|
|Investment
returns
(gains/losses)|||||||||2,451,495|2,451,495|
|Less investment
management||||costs|||||(19,764)|(19,764)|
||||||||||2,677,147|2,677,147|
|Unapplied
total return|allocated||||to income||||||
|in the reporting
period|||||||||399,224)|(399,224)|
|Net movements
in reporting|||period||||||2,277,923|2,277,923|
|Carried forward 31March||2021||||||f14,195,617|f2,544,198|E16739817|
##
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|11|SUNDRY DEBTORS|SUNDRY DEBTORS|||||2021||2020
f|
|---|---|---|---|---|---|---|---|---|---|
||Trade Debtors||||||2,315||2,052|
||Prepayments||||||2,153||2,/53|
||Englefield
Home Farms||Partnership||||1,075|||
||Accrued investment|income|||||42,221||32,752|
||||||||64»6||636957|
|12|CASH AT BANKS||||||2021||2020|
||||||||||f|
||Lloyds l3ank
—Current||Account||||181,055||48,078|
||Cash with Flemings|-I|income Accounts||||||/,487|
||||||||f181,055||f49,565|
|13|CREDITORS: AMOUNTS FALLING DUE WITHIN||||ONE YEAR||2021||2020|
||||||||||f|
||Trade Creditors||||||10,567||4,750|
||Donations
Payable||||||150,000||//0, 000|
||The Benyon Trust||||||4,488||2,069|
||The Englefteld Trust||||||||2,2/4|
||Engletleld
Estate LP||||||||/53|
||Other Creditors||||||17,445
f.182,500||27,670
f/46,856|
|14|CREDITORS: AMOUNTS FALLING DUE IN MORE THAN||||||2021||20Z0|
||ONE YEAR||||||f||f|
||Donations
Payable|||||||||
||Thts amount
due relates||to donations|payable to the Uhon Court Educational||Trust for the|period May 2022 to November 2023.|||
|15|ANALYSIS OF NET||ASSETSBETWEEN FUNDS|||||||
||||||Investment||Net Current|Creditors||
||||||Properties|Investments|Assets|&I Year|Total|
||Year ended 31March||2021|||||f||
||Unrestricted
Funds||||||243,987||243,987|
||Pamanent
Endowment||Fund||3,850,000|13,307,483|(197,668)|(220,000)|16,739,815|
||||||f3,850,000 f13,307,483||f46,319|f.220,000|f16,983,802|
||Year ended 31March||2020||f||f|||
||Unrestricted
Funds||||||69,526||69,526|
||Pamanent
Endowment||Fund||3,850,000|11,071,752|(129,860)|(330,000)|14,461,892|
||||||f3,850,000 f11,071,752||I, 60,334|I330000|f14531418|
##
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|FUNDS|||Unrestricted|Endowment||
|---|---|---|---|---|---|
||||Fund|Fund|Total|
|Total funds|brought
forward||69,526|14,461,892|14,531,418|
|Income|||197,416|245,416|442,832|
|Expenditure|and net gain on revaluation|||||
|and disposal|ofinvestment|assets|(422,179)|2,431,731|2,009,552|
|Transfer between
funds|||399,224|(399,224)||
|Total funds|carried forward||f243 987|f16739815|f16983802|
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||||||2021||2820f|
|---|---|---|---|---|---|---|---|
|Net movement
in funds|||||2,452,384||(/,554,000)|
|Deduct interest
income shown|in|mvesting||activities|(442,832)||(436,270)|
|Deduct gains/add
back unrealised||losses on||investments|(2,451,495)||960,793|
|Decrease/ (increase) in debtors|||||(10,807)||(2,080)|
|Increase / (decrease) in creditors|||||||439,959|
||||||(527,106)||(59/,598)|
|PREVIOUS YEAR'S STATEMENT||||OF FINANCIAL|ACTIVITIES|||
|||||||Permanent|Total Funds|
||||||Unrestmcted|Endowment|Year Ended|
||||||Funds|Fund|31st March 2020|
|INCOME||||||||
|Investment
Income|||||189,747|246,523|436,270|
|TOTAL INCOME|||||189,747|246,523|436,270|
|EXPENDITURE||||||||
|Raising funds||||||||
|Investment
management
costs||||||19,120|19,120|
|Property costs|||||88,758||88,758|
|Chariiable
activities||||||||
|Donations|||||909,444||909,444|
|Supporting
Education|||||12,155||12,155|
|TOTAL EXPENDITURE|||||1,010,357|19,120|1,029477|
|NET INCOME/EXPENDITURE|||||(820,610)|227,403|(593,207)|
|Gains on revaluations
and disposals||||||||
|ofinvestments
assets||||||(960,793)|(960,793)|
|NET INCOME AND NET MOVEMENT||||IN FUNDS|(820,610)|(733,390)|(1,554,000)|
|Transfers
benveen funds||||||||
|Transfer
Irom total return
for application|||||332,153|(332,153)||
|NKT (EXPENDITURE)/INCOME|||AND|||||
|NKT MOVEMENTS
IN FUNDS|||||(488,457)|(1,065,543)|(1,554,000)|
|Reconciliation offunds||||||||
|TOTAL FUNDS BROUGHT|FORWARD||||557 983|15527435|16085 418|
|TOTAL FUNDS CARRIED FORWARD|||||f69 526|f14461 892|f14531 418|