This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2021-04-05-accounts
|
Page |
| Legalandadministrativeinformation |
1 |
| Trustees'report |
2-5 |
| Independentexaminer'sreport |
6 |
| Statementoffinancialactivities |
7 |
| Statementoffinancialposition |
8 |
| Statementofcashflows |
9 |
| Notestotheaccounts |
10-16 |
| Scheduleofinvestments |
17-20 |
| Trustees |
RathboneTrustCompanyLimited |
|
MrPMHAndreae |
|
MrsRJAndreae |
| Charitynumber |
258516 |
| Registeredoffice |
8FinsburyCircus |
|
London |
|
EC2M7AZ |
| Independentexaminer |
MrDavidMatkins |
|
BournerBullockCharteredAccountants |
|
SovereignHouse |
|
212-224ShaftesburyAvenue |
|
London |
|
WC2H8HQ |
| Solicitors |
Currey&Co |
|
33QueenAnneStreet |
|
London |
|
W1G9HY |
| Investmentadvisors |
RathboneInvestmentManagementLimited |
|
8FinsburyCircus |
|
London |
|
EC2M7AZ |
|
UK |
|
|
2021 |
2020 |
|
Notes |
£ |
£ |
| Incomeandendowments |
|
|
|
| Donationsandlegacies |
3 |
34,795 |
49,920 |
| Investments |
4 |
25,158 |
29,998 |
| Otherincome |
5 |
- |
49 |
| Totalincome |
|
59,953 |
79,967 |
| Expenditure |
|
|
|
| Raisingfunds |
6 |
7,446 |
6,132 |
| Charitableactivities |
7 |
281,061 |
203,644 |
| Totalresourcesexpended |
|
288,507 |
209,776 |
| Netexpenditurebeforeinvestment(losses) |
|
(228,554) |
(129,809) |
| Net(losses)/gainsoninvestments |
12 |
555,602 |
(96,742) |
| Netmovementinfunds |
|
327,048 |
(226,551) |
| Fundbalancesat6April2020 |
|
1,305,395 |
1,531,946 |
| Fundbalancesat5April2021 |
|
1,632,443 |
1,305,395 |
|
|
2021 |
|
2020 |
|
|
Notes |
£ |
£ |
£ |
£ |
| Fixedassets |
|
|
|
|
|
| Investments |
13 |
|
1,666,015 |
|
1,317,518 |
| Currentassets |
|
|
|
|
|
| Cashatbankandinhand |
|
6,858 |
|
6,420 |
|
| Creditors:amountsfallingduewithin |
14 |
|
|
|
|
| oneyear |
|
(40,430) |
|
(18,543) |
|
| Netcurrentliabilities |
|
|
(33,572) |
|
(12,123) |
| Totalassetslesscurrentliabilities |
|
|
|
|
|
| Incomefunds |
|
|
|
|
|
| Unrestrictedfunds |
|
|
1,632,443 |
|
1,305,395 |
|
|
2021 |
|
2020 |
|
|
Notes |
£ |
£ |
£ |
£ |
| Cashflowsfromoperatingactivities |
|
|
|
|
|
| Cashabsorbedbyoperations |
15 |
|
(231,825) |
|
(143,556) |
| Investingactivities |
|
|
|
|
|
| Purchaseofinvestments |
|
|
|
(256,171) |
|
| Proceedsondisposalofinvestmens |
|
207,475 |
|
338,541 |
|
| Dividendsandinterestreceived |
|
25,158 |
|
29,998 |
|
| Netcashgeneratedfrominvesting |
|
|
|
|
|
| activities |
|
|
232,633 |
|
112,368 |
| Netincrease/(decrease)incashandcash |
|
|
|
|
|
| equivalents |
|
|
808 |
|
(31,188) |
| Cashandcashequivalentsatbeginningofyear |
|
|
25,777 |
|
50,776 |
| Effectofforeignexchangerates |
|
|
(13,353) |
|
6,189 |
| Cashandcashequivalentsatendof |
16 |
|
|
|
|
| year |
|
|
13,232 |
|
25,777 |
|
2021 |
2020 |
|
£ |
£ |
| Donationsandgifts |
34,795 |
49,920 |
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Incomefromlistedinvestments |
8,102 |
13,265 |
|
Foreignincome |
17,056 |
16,733 |
|
|
Lo,loo |
Ly,yyo |
| 5 |
Otherincome |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Bankinterest |
- |
49 |
| 6 |
Raisingfunds |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Investmentmanagementfee |
7,446 |
6,132 |
| 7 |
Charitableactivities |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Grantfundingofactivities(seenote8) |
262,900 |
186,400 |
|
Shareofgovernancecosts(seenote9) |
18,161 |
17,244 |
|
|
281,061 |
203,644 |
|
2021 |
2020 |
|
£ |
£ |
| Grantstoinstitutions: |
|
|
| Elderly&SocialCare |
57,000 |
1,000 |
| ReligiousOrganisations |
31,000 |
40,000 |
| TheArtsandMuseums |
24,700 |
30,900 |
| Youth&Education |
92,200 |
70,500 |
| OtherNational&InternationalCharities |
- |
5,000 |
| Medical&MentalHealth |
20,000 |
4,000 |
| Conservation |
38,000 |
35,000 |
|
262,900 |
186,400 |
| Supportcosts |
|
|
|
|
|
|
Support |
Governance |
2021 |
2020 |
Basisof |
|
costs |
costs |
|
|
allocation |
|
£ |
£ |
£ |
£ |
|
| Trustmanagement |
- |
15,600 |
15,600 |
15,600 |
Governance |
| SRCBluebookannualsubscription |
- |
901 |
901 |
- |
Governance |
| Independentexamination |
- |
1,640 |
1,640 |
1,644 |
Governance |
| Bankcharges |
- |
20 |
20 |
- |
Governance |
|
|
18,161 |
18,161 |
17,244 |
|
|
|
2021 |
2020 |
|
|
£ |
£ |
| Revaluationofinvestments |
|
473,707 |
(82,107) |
| Gains/(loss)onsaleofinvestments |
|
95,248 |
(20,824) |
| (Loss)/gainonexchange |
|
(13,353) |
6,189 |
|
|
555,602 |
(96,742) |
| Fixedassetinvestments |
|
|
|
|
Listed |
Cashin |
Total |
|
investments |
portfolio |
|
|
£ |
£ |
£ |
| Costorvaluation |
|
|
|
| At5April2020 |
1,298,161 |
19,357 |
1,317,518 |
| Unrealised/Realisedgains |
568,955 |
- |
568,955 |
| Currency(loss) |
- |
(13,353) |
(13,353) |
| Cashheldininvestmentportfilio |
- |
370 |
370 |
| Disposals |
(207,475) |
- |
(207,475) |
| At5April2021 |
1,659,641 |
6,374 |
1,666,015 |
| Investmentsrepresentingmore |
Investmentsrepresentingmore |
than5%ofthe |
portfoliostotalmarketvalue: |
| Investment |
Units |
MarketValue |
%ofTotalMarket£Value |
| AgnicoEagleMinesLtd |
4,900 |
211,673 |
12.86% |
| BarrickGoldCorp |
7,200 |
106,907 |
6.49% |
| NewmontCorp |
4,200 |
188,900 |
11.48% |
| PaypalHoldingsInc |
3,400 |
523,937 |
31.83% |
| UnionPacificCorp |
1,125 |
180,944 |
10.99% |
|
2021 |
2020 |
|
£ |
£ |
| Listedinvestments |
1,659,641 |
1,298,161 |
| Cashininvestmentportfolio |
6,374 |
19,357 |
|
1.666,015 |
1.317.518 |
| Historiccostofinvestments |
1,096,273 |
1,142,463 |
| 14 |
Creditors:amountsfallingduewithinoneyear |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Investmentmanagementfees |
1,749 |
1,383 |
|
Trustees'managementfees |
15,600 |
15,600 |
|
Independentexaminer'sfees |
3,200 |
1,560 |
|
PeterAndreae |
19,881 |
- |
|
|
40,430 |
18,543 |
| 15 |
Cashgeneratedfromoperations |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Surplus/(deficit)fortheyear |
327,048 |
(226,551) |
|
Adjustmentsfor: |
|
|
|
Investmentincomerecognisedinstatementoffinancialactivities |
(25,158) |
(29,998) |
|
(Gain)/lossondisposalofinvestments |
(95,248) |
20,824 |
|
Fairvaluegainsandlossesonexchange |
13,353 |
(6,189) |
|
Fairvaluegainsandlossesoninvestments |
(473,707) |
82,107 |
|
Movementsinworkingcapital: |
|
|
|
Increaseincreditors |
21,887 |
16,251 |
|
Cashabsorbedbyoperations |
(231,825) |
(143,556) |
| 16 |
Cashandcashequivalents |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Cashatbankandinhand |
6,858 |
6,420 |
|
Cashheldininvestmentportfilio |
6,374 |
19,357 |
|
|
13,232 |
25,777 |
| Donationsmadetoinstitutionsduringtheyear |
|
|
|
2021 |
2020 |
|
£ |
£ |
| ArtUK |
20,000 |
- |
| BasingstokeandAltonCardiacRehabilitationCharity |
200 |
1,000 |
| Basmom |
40,000 |
40,000 |
| BromptonAssociation |
10,000 |
- |
| BromptonOratory |
10,000 |
- |
| CoramBeanstalk |
500 |
- |
| DioceseofPortsmouth |
10,000 |
- |
| DukeofEdinburgh'sAward |
- |
5,000 |
| EliasAshmoleGroup |
1,700 |
1,500 |
| FelixProject |
4,000 |
- |
| GiftofSight |
- |
1,000 |
| GrangeFestival |
- |
5,000 |
| HampshireGardensTrust |
3,000 |
- |
| HospitalofStCrossWinchester |
- |
500 |
| HuntStaffBenefitSociety |
30,000 |
- |
| JohnofJerusalemHospital |
- |
1,000 |
| LondonLibary |
1,000 |
- |
| Mary'sMeals |
10,000 |
- |
| NationalGalleryTrust |
3,000 |
2,900 |
| NewnhamCollege |
- |
10,000 |
| PetersfieldMuseum |
- |
10,000 |
| ReleasingPotential |
25,000 |
15,000 |
| RoyalBritishLegion |
20,000 |
- |
| RoyalOperaHouseFoundation |
- |
1,500 |
| RoyalNationalLifeBoatService |
- |
- |
| RoyalNavyandMarines |
- |
5,000 |
| SaveBritainsHeritage |
25,000 |
25,000 |
| StAnne'sCollege |
500 |
- |
| StGregorysFoundation |
- |
1,000 |
| StJohn'sAmbulance |
3,000 |
500 |
| StPeterandPaulsChurch |
1,000 |
1,000 |
| TabletTrustDevelopment |
- |
10,000 |
| TallShipsYouthTrust |
- |
25,000 |
| TrinityCollege |
25,000 |
2,500 |
| TrinityWinchester |
10,000 |
- |
| TheCountryTrust |
- |
2,000 |
| ThePublicCatalogueFund(ArtUK) |
- |
10,000 |
| VeniceinPerilFund |
- |
10,000 |
| WestminsterCathedral |
10,000 |
- |
|
262,900 |
186,400 |
|
Holding |
Market |
Value |
Additions |
|
Disposals |
Disposals |
Realised |
Unrealised |
Holding |
Holding |
Market |
Value |
NetIncome |
|
6April2020 |
6April |
2020 |
Quantity |
Cost |
Quantity |
Proceeds |
Profitl(loss) |
Profitl(loss) |
5April |
2021 |
5April |
2021 |
|
|
|
£ |
|
|
£ |
|
£ |
£ |
£ |
£ |
|
£ |
|
£ |
| AdobeInc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSD0.0001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
150 |
|
35,929 |
|
|
|
|
|
17,146 |
|
150 |
|
53,075 |
|
| AEATechnologyGroup |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| NPVordinaryshares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,981 |
|
|
|
|
|
|
|
|
100,981 |
|
|
|
|
| AgnicoEagleMines |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonNoParValue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,900 |
178,563 |
|
|
|
|
|
|
|
|
|
|
|
656 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
638 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,070 |
|
|
|
|
|
|
|
|
|
33,110 |
|
4,900 |
211,673 |
|
1,052 |
| BarrickGoldCorp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonNoParValue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,200 |
117,181 |
|
|
|
|
|
|
|
|
|
|
|
337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
412 |
|
|
|
|
|
|
|
|
|
(10,274) |
|
7,200 |
106,907 |
|
395 |
| BectonDickinson |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSD1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
150 |
|
27,745 |
|
|
150 |
29,888 |
2,143 |
|
|
|
|
|
82 |
| BurfordCapitalLtd |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OrdinaryNoParValue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,000 |
|
6,336 |
|
|
|
|
|
7,494 |
|
2,000 |
|
13,830 |
|
|
Holding |
Market |
Value |
Additions |
|
Disposals |
Disposals |
Realised |
Unrealised |
Holding |
Holding |
Market |
Value |
NetIncome |
|
6April2020 |
6April |
2020 |
Quantity |
Cost |
Quantity |
Proceeds |
Profitl(loss) |
Profit/(loss) |
5April |
2021 |
5April |
2021 |
|
|
|
£ |
|
|
£ |
|
£ |
£ |
£ |
£ |
|
£ |
|
£ |
| CouplandCardiffFunds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| JapanAlphaTJpyAcc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,100 |
|
30,786 |
|
|
|
|
|
18,702 |
|
5,100 |
|
49,488 |
|
| ExxonMobilCorp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonStock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
490 |
|
15,674 |
|
|
|
|
|
|
|
|
|
|
281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
271 |
|
|
|
|
|
|
|
|
|
4,252 |
|
490 |
|
19,926 |
259 |
| GenElectricCoAmerica |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUS$0.06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,000 |
|
16,471 |
|
|
|
|
|
|
|
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19 |
|
|
|
|
|
|
|
|
|
12,592 |
|
3,000 |
|
29,063 |
19 |
| M&Gplc |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5pOrdinaryShares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,900 |
|
27,241 |
|
|
16,000 |
30,396 |
12,892 |
|
|
|
|
|
959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,968 |
|
|
|
|
|
|
|
|
|
8,900 |
|
8,900 |
|
18,637 |
1,494 |
| Merck&CoIncNew |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonStkUSD0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,150 |
|
71,535 |
|
|
|
|
|
|
|
|
|
|
482 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
476 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
461 |
|
|
|
|
|
|
|
|
|
(7,802) |
|
1,150 |
|
63,733 |
464 |
| Holding |
Market |
Value |
Additions |
|
Disposals |
Disposals |
Realised |
Unrealised |
Holding |
Holding |
Market |
Value |
NetIncome |
| 6April2020 |
6April |
2020 |
Quantity |
Cost |
Quantity |
Proceeds |
Profitl(loss) |
Profitl(loss) |
5April |
2021 |
5April |
2021 |
|
|
£ |
|
|
£ |
|
£ |
£ |
£ |
£ |
|
£ |
|
£ |
| NestleSA |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CHF1(Regd) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1,000 |
|
85,400 |
|
|
|
|
|
(4,343) |
|
1,000 |
|
81,057 |
1,439 |
| NewmontCorporation |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSD1.60 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4,200 |
161,552 |
|
|
|
|
|
|
|
|
|
|
|
709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,050 |
|
|
|
|
|
|
|
|
27,348 |
|
4,200 |
188,900 |
|
1,394 |
| NovartisAG |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CHFO.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 430 |
|
29,292 |
|
|
430 |
30,355 |
1,063 |
|
|
|
|
|
|
| PaypalHoldingsInc |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSDO.0001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3,400 |
256,262 |
|
|
|
500 |
116,836 |
79,150 |
305,361 |
|
2,900 |
523,937 |
|
|
| RocheHoldingsAg |
|
|
|
|
|
|
|
|
|
|
|
|
|
| GenusscheineNoParValue |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 150 |
|
40,385 |
|
|
|
|
|
(5,195) |
|
150 |
|
35,190 |
678 |
| RoyalDutchShell |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 'B'SharesEURO.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2,500 |
|
35,460 |
|
|
|
|
|
|
|
|
|
|
317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
302 |
|
|
|
|
|
|
|
|
|
|
|
|
|
312 |
|
|
|
|
|
|
|
|
(2,075) |
|
2,500 |
|
33,385 |
299 |
|
Holding |
Market |
Value |
Additions |
|
Disposals |
Disposals |
Realised |
Unrealised |
Holding |
Holding |
Market |
Value |
NetIncome |
|
6April2020 |
6April |
2020 |
Quantity |
Cost |
Quantity |
Proceeds |
Profitt(loss) |
Profit/(loss) |
5April |
2021 |
5April |
2021 |
|
|
|
£ |
|
|
£ |
|
£ |
£ |
£ |
£ |
|
£ |
|
£ |
| Schlumberger |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSD0.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,303 |
|
15,190 |
|
|
|
|
|
|
|
|
|
|
516 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
129 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
125 |
|
|
|
|
|
|
|
|
|
10,647 |
|
1,303 |
|
25,837 |
118 |
| UnionPacificCorp |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CommonUSD2.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,125 |
127,175 |
|
|
|
|
|
|
|
|
|
|
|
744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
715 |
|
|
|
|
|
|
|
|
|
53,769 |
|
1,125 |
180,944 |
|
677 |
| VodafoneGroup |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OrdinaryUS$0.2095238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,000 |
|
19,984 |
|
|
|
|
|
|
|
|
|
|
734 |
|
|
|
|
|
|
|
|
|
4,075 |
|
18,000 |
|
24,059 |
717 |
| TOTAL: |
|
1,298,161 |
|
|
|
|
207,475 |
95,248 |
473,707 |
|
|
1,659,641 |
|
25,157 |