| Contents | Page | |||
|---|---|---|---|---|
| Independent examiner*s report |
||||
| Trustees' Report |
2-5 | |||
| Sterling Section Balance sheet | ||||
| Sterling Section Statement of | Financial | Activities | ||
| Sterling Section Donations | ||||
| Sterling Section Investments | and Investment | Changes | 9-10 | |
| Dollar Section Balance Sheet | ||||
| Dollar Section Statement of Financial | Activities | 12 | ||
| Dollar Section Grants | 13 | |||
| Dollar Section Investments and Investment |
Changes | 14-15 | ||
| Notes to the Accounts |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Fixed income | 54,254.00 | 4.27'/o | 163,784 | 15.80'/o | |
| US Shares | 535,781.00 | 42.16/o | 492,258 | 47.48'/o | |
| Non-US Shares | 655,199.00 | 51.55/o | 383,728 | 37.02'/o | |
| Cash | 25,684.96 | 2.02'/0 | -3,091 | 30o/o | |
| Total financial | investments | 1 270918.96 | 100o/ | 1036680 | 100'/o |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| F | ||||||
| UNRESTRICTED FUNDS | 3,960,892.08 | 3,778,037.77 | ||||
| There are | no restricted or endowment | funds | ||||
| represented | by.'- | |||||
| INVESTMENTS at Market Value | 3,668,661.34 | 3,422,046.40 | ||||
| CASH BALANCES | ||||||
| Raymond James ($5796.57) |
260,301.23 4,281.17 |
51,663.68 67,111.93 |
||||
| CAF Bank | 29,269.05 | 237,503.54 | ||||
| Hunters | 5,939.29 | 6,476.62 | ||||
| Creditor | ||||||
| Hunters | -7,560.00 | -6,764.40 | ||||
| 3,960,892.08 | 3,778,037.77 | |||||
| Approved | by the Trustees on | ', | ~tL | |||
| C | e | or@biles | ||||
| A | D Gemmill | |||||
| Vernorkhiles |
| for | the | year en | ded 31stDecemb | er 2021 | |
|---|---|---|---|---|---|
| INCOMING RESOURCES | 2021 | 2020 | |||
| E | |||||
| Fixed Interest (gross) | 20,125.58 | 19,593.74 | |||
| UK Dividends | 35,992.14 | 38,033.53 | |||
| Unit Trust Accumulation Units |
259.54 | 201.52 | |||
| UK Property Income Distributions | 928.00 | 903.20 | |||
| Foreign Interest | 0.00 | 0.00 | |||
| Overseas Dividends |
25,710.96 | 26,285.5? | |||
| Donation from Ernest Kleinwort |
Charitable | Trust | 0.00 | 5,000.00 | |
| 83,016.22 | 90,017.56 | ||||
| RESOURCES EXPENDED | |||||
| Transfer to Dollar Section | 150,000.00 | 0.00 | |||
| Direct Charitable Ex enditure |
|||||
| Donations | 53,000.00 | 47,500.00 | |||
| Mana ement and Administration |
Ex enditure | ||||
| Hunters fees and disbursements | for 2021 inc VAT | 20,760.00 | 16,764.70 | ||
| G Taviner fee for 2021 | 4,039.77 | 4,000.00 | |||
| Burgess Hodgson Independent Examination |
fee 2020 a/cs | 967.22 | 937.28 | ||
| LEIfee | 0.00 | 78.00 | |||
| Raymond James fees |
14,932.39 | 14,874.05 | |||
| Trustees meeting expenses |
433.13 | 0.00 | |||
| Trustee travel expenses | 102.70 | 0.00 | |||
| Bank fees | 229.00 | 60.00 | |||
| Loss on currency conversion | 1,773.81 | 1,690.22 | |||
| 246,238.02 | 85,904.25 | ||||
| There are no publicity or fund | raising costs | ||||
| Net Income/Outgoing Resources |
in year | -163,221.80 | 4,113.31 | ||
| GAIN/LOSS ON INVESTMENTS |
IN | THE YEAR | |||
| Realised | -2,382.82 | 21,918.47 | |||
| Unrealised | 348,458.93 | 229,712.27 | |||
| BALANCE B/FWD AT 1STJANUARY 2021 | 3,778,037.77 | 3,522,293.72 | |||
| BALANCE at 31stDecember 2021 | 3,960,892.08 | 3,778,037.77 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Cheque | No | Z | |||
| 38 | Curly Tails | 3,000 | 2,500 | ||
| Durrell Wildlife Conservation | Trust (Jersey) | 2,000 | 2,000 | ||
| 39 | Environmental Investigation |
Agency | 2,000 | 2,000 | |
| 4o | Fauna 8 Flora International | 3,000 | 3,000 | ||
| 41 | Free the Bears UK | 5,000 | 5,000 | ||
| 42 | Freshfields Animal Rescue |
2,000 | 2,000 | ||
| 43 | Help in Suffering (UK) |
2,000 | |||
| Mauritian Wildlife Foundation |
(Mauritius) | 6,000 | 5,000 | ||
| 6,000 | |||||
| 44 | Mayhew Animal Home |
2,000 | 1,000 | ||
| Reef Conservation (Mauritius) |
2,000 | 2,000 | |||
| 37 | Royal Veterinary College Animal Care Trust |
5,000 | |||
| 4s | Safe Haven for Donkeys | 2,000 | |||
| Society ofSt Pius X(Switzerland) | 12,000 | 12,000 | |||
| &o& | Zimbabwe NSPCA (Zimbabwe) |
5,000 | 5,000 | ||
| 53000 | 47 500 |
| Value at | Value at | |||||
|---|---|---|---|---|---|---|
| Income | 31/12/21 | 31/12/20 | ||||
| Fixed Interest | E | E | ||||
| 2100,000 F200,000 f43,500 |
Marks 8 Spencer 6.125'/o MTN 6/12/2021 Tesco 6.15'/o 15/11/37 UK Treasury 4.125'k I/L 22/1/2030 |
7,375.00 8,861.04 3,889.54 |
0.00 193,051.54 167,465.10 |
106,290.52 190,975.60 166,467.50 |
||
| 20 125.58 | ||||||
| UK Equi | ties | |||||
| 18,000 | BPUS$0.25 | 2,796.76 | 59,490.00 | 45,864.00 | ||
| 1,550 | British American Tobacco Ord 25p | 3,321.65 | 42,369.25 | 41,974.00 | ||
| 2,000 | Derwent London Ord 5p |
1,277.00 | 68,300.00 | 61,920.00 | ||
| 1,700 2,600 4,100 1,400 130,000 11,000 11,666 3,208 11,666 3,000 |
Diageo Ord 0.28 101/108p Experian Ord US$0.10 Glaxosmithkline Imperial Brands Ord 10p Lloyds Banking Group Ord 1p JP Morgan Asia Grow Ord 25p M8G Ord 5p National Grid Ord 0.113953 Prudential Ord 5p Royal Dutch Shell "B"Ord &0.07 |
1,233.35 890.55 3,280.00 1,940.54 1,612.00 2,123.00 2,138.37 1,577.05 1,353.24 1,789.80 |
68,612.00 94,432.00 65,870.60 22,631.00 62,140.00 49,555.00 23,273.67 33,998.38 148,683.17 48,672.00 |
48,926.00 72,202.00 55,022.00 21,497.00 47,372.00 53,515.00 23,092.84 27,749.20 157,141.02 37,782.00 |
||
| 15,000 4,000 |
Scottish Mortgage Inv Trust Ord 5p SSEOrd 50p |
523.50 3,240.00 |
200,625.00 65,960.00 |
182,100.00 60,000.00 |
||
| 5,300 | Unilever Ord 0.031111p |
7,823.33 | 209,111.50 | 232,776.00 | ||
| 36920.14 | ||||||
| 4,000 | Aberdeen Mgs Emerging Markets |
Equity Acc | 259.54 | 39,360.80 | 40,756.00 | |
| Foreign | Equities | |||||
| 14,000 | Aberdeen Asian Inc Ord NPV |
1,302.00 | 32,340.00 | 31,990.00 | ||
| 90 60 |
Adobe Inc Com US$0.0001 Alphabet Inc Cap Stock "C" |
0.00 0.00 |
37,693.15 128,226.92 |
32,964.07 76,980.33 |
||
| 40 | Amazon Com lnc$0.01 |
0.00 | 98,505.58 | 95,409.71 | ||
| 1,100 | Apple Inc NPV | 579.47 | 144,262.43 | 106,894.43 | ||
| 20,000 | Australian Foundation Inv NPV |
2,585.45 | 90,823.69 | 82,418.35 | ||
| 550 | Becton Dickinson US$1 | 841.56 | 102,154.41 | 100,788.01 | ||
| 700 | Boston Properties Inc US$0.01 |
836.90 | 59,547.85 | 0.00 | ||
| 800 | HenkelAG 8 Co NPV |
921.65 | 0.00 | 56,784.81 | ||
| 1,632 340 |
Jardine Matheson Holdings USD0.25 Meta Platforms Inc Cl "A" (formerly Facebook) |
1,977.82 0.00 |
66,305.99 84,461.99 |
66,931.78 68,017.43 |
||
| 740 | Microsoft Corp Com | 1,041.46 | 183,812.64 | 120,539.60 | ||
| 2,760 | Nestle SF1 Reg | 3,833.33 | 285,012.88 | 238,150.79 | ||
| 900 | Paypal Holdings Com |
0.00 | 125,351.37 | 154,366.69 | ||
| 359 | Pernod Ricard Eur1.55 |
690.68 | 63,809.50 | 51,446.38 | ||
| 670 | Philip Morris Int Com NPV | 2,322.94 | 47,009.90 | 40,623.45 |
| Value at | Value at | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Income | 31/12/21 | 31/12/20 | |||||||
| 930 | Pinterest Inc Com |
CL A | 0.00 | 24,967.69 | 44,884.10 | ||||
| 1,500 | Procter 8 Gamble | NPV | 2,285.97 | 181,223 | 152,850.70 | ||||
| 600 1,700 |
Roche Holdings AG Genusscheine NPV Verizon Communictions Com USD0.10 |
2,740.54 3,451.94 |
184,312 65,239 |
153,438.71 73,144.38 |
|||||
| 25411.71 | 3668661.34 | 3,422,046.40 | |||||||
| Market Value at 31/12/20 or | cost in year of investments | sold | -163,075.33 | ||||||
| Cost of | investments purchased |
in 2021 | 61,231.34 | ||||||
| Adjusted | M/V at 31/12/20 | 3,320,202.41 | |||||||
| Market Value at 31/12/21 | 3,668,661.34 | ||||||||
| UNREALISED GAIN/LOSS | IN | 2021 | 348,458.93 |
| IN | VESTMENT CH |
ANGES | in the year en | ded 31stDece | mber 2021 | ||
|---|---|---|---|---|---|---|---|
| Value at | |||||||
| 31/12/20 or | |||||||
| DISPOSALS | Proceeds | cost in year | Gain/Loss | ||||
| E | |||||||
| 17/6/21 | 800 Henkel | 54,958.20 | 56,784.81 | -1,826.61 | |||
| 28/9/21 | 291 Jackson Financial | 5,?34.31 | 5,734.31 | ||||
| 7/12/21 | 100,000 | Marks 8 Spencer | 6.125%7/1 2/21 | 100,000.00 | 106,290.52 | -6,290.52 | |
| 160692.51 | 163075.33 | -2382.82 | |||||
| ACQUISI | TIONS | Cost | |||||
| 17/6/21 | 700 Boston Properties | 60,971.80 | |||||
| 1/9/21 | 291 Jackson Financial | spin off from Prudential | |||||
| Aberdeen | Mgs Emerging | Markets | Equity Acc | 259.54 | Acc dividend | ||
| 61 231.34 |
| based on | UK Charity | Commission r |
equirements | ||
|---|---|---|---|---|---|
| INCOMING RESOURCES | 2021 | 2020 | |||
| $ | $ | ||||
| Transfer from Sterling Section ofTrust | 204,900.00 | 0.00 | |||
| US Common Stocks | 714.03 | 721.92 | |||
| Non-US Shares net income | 10,648.38 | 10,752.52 | |||
| 216 262.41 | 11474.44 | ||||
| RESOURCES EXPENDED | |||||
| Direct Charitable Ex enditure |
67,500.00 | 68,741.00 | |||
| Mana ement and Administration Ex |
enses | ||||
| Hunters administration fees for the year ended |
12/31/21 | 21,761.41 | 18,573.43 | ||
| Ryan & McDonald fees for preparing | Federal Return of | ||||
| Private Foundation for the year ended |
12/31/20 | 2,700.00 | 2,700.00 | ||
| David Orr - independent investment |
advisor | 3,000.00 | 3,000.00 | ||
| Pictet Custody fees | 529.67 | 342.84 | |||
| Pictet Admin fees | 8,540.52 | 7,?43.83 | |||
| Sundry Bank Charges and interest | 334.53 | 342.39 | |||
| Loss on currency conversion | 91.67 | ||||
| 104457.80 | 101443.49 | ||||
| There are no publicity or fund raising costs | |||||
| Net Incoming/Outgoing expenditure |
for the year | 111,804.61 | -89,969.05 | ||
| GAIN/LOSS ON INVESTMENTS IN |
THE YEAR | ||||
| Realised | 2,003.86 | -35,351.80 | |||
| Unrealised | 120,430.90 | 177,293.75 | |||
| BALANCE B/FWD AT JANUARY 1ST2021 | 1,036,679.59 | 984,706.69 | |||
| BALANCE AT DECEMBER 31ST2021 | 1,270,918.96 | 1,036,679.59 |
| 2021 SYLVANUS CHARITABLE TRUST 98-0032428 DOLLAR SECTION GRANTS |
||
|---|---|---|
| 2021 | 2020 | |
| $ | $ | |
| CONSERVATION FORCE TRUST for DAPU 3240S.1-10Service Road W Suite 200 Metairie Louisiana 70001-6911 |
7,000 | 7,000 |
| FRIENDS OF COMMUNITY ANIMAL SERVICES PO Box7487 Spreckels CA 93962 |
3,000 | 2,000 |
| MIDDLEBURY COLLEGE 460 Pierce Street Monterey CA 93940 |
10,000 | 12,241 |
| PEACE OF MIND DOG RESCUE PO Box51554Pacific Grove CA 93950 |
5,000 | 5,000 |
| SAN FRANCISCO ZOOLOGICAL SOCIETY | 7,000 | 7,000 |
| 1 Zoo Road San Francisco CA 94132-1098 | ||
| SHANTIPROJECT 730 Polk Street San Francisco CA 94019 |
4,500 | 4,500 |
| SPCA FOR MONTEREY COUNTY PO Box3058 Monterey CA 93942 |
8,000 | 8,000 |
| SPCA OF WESTCHESTER 590 North State Road Briarcliff Manor NY 10510 |
4,000 | 4,000 |
| VENTANA WILDERNESS SANCTUARY 9699Blue Larkspur Ln Ste 105, Monterey, CA 93940 |
7,500 | 7,500 |
| WILDLIFE CONSERVATION SOCIETY 185th St &Southern Boulevard Bronx NY 10460 |
7,000 | 7,000 |
| WONDER DOG RESCUE | 4,500 | 4,500 |
| 2926 16th Street San Francisco CA 94013 | ||
| 67500 | 68741 |
| Market | ||||||||
|---|---|---|---|---|---|---|---|---|
| Value at | Gross | |||||||
| Book Value | 31/12/21 | Interest | ||||||
| FIXED INCOME | $ | $ | $ | |||||
| 110 | Bluebay | High Yield Bond | 40571.03 | 54 254 | 0.00 | |||
| US COMMON STOCKS | Dividends | |||||||
| 52 | Alphabet | "A" | 40,519.94 | 150,646 | 0.00 | |||
| 55 | Amazon | 18,790.34 | 183,389 | 0.00 | ||||
| 678 | Exact Sciences | 50,413.25 | 52,769 | 0.00 | ||||
| 205 | Ishares | Vll-Core | SBP500 USD ETF | 43,070.62 | 99,903 | 0.00 | ||
| 300 | Procter | 8 Gamble | 24,838.46 | 49,074 | 714.03 | |||
| 714.03 | ||||||||
| Net offoreign | ||||||||
| NON-US | SHARES | tax | ||||||
| 909 | Diageo | 25,183.13 | 49,691 | 885.86 | ||||
| 2,560 | Fidelity-Global | Dividend | Y-Ac USD | 0.00 | 69,197 | 0.00 | ||
| 360 | Nestle (Swiss tax | 35'/o) | 22,115.15 | 50,352 | 691.75 | |||
| 1,200 | Novartis | Reg (Swiss tax | 35'/o) | 60,777.33 | 105,730 | 2,470.42 | ||
| 1,705 | Pfizer | 0.00 | 100,680 | 930.92 | ||||
| 120 | Roche Holdings( | Swiss | tax 35'/o) | 21,367.38 | 49,928 | 753.48 | ||
| 424 | Siemens | 0.00 | 73,618 | 0.00 | ||||
| 355 | Zurich Insurance | 100,843.71 | 156,003 | 4,915.95 | ||||
| 407919.31 | 1 190980 | 10648.38 |
| Market Value | Market Value | ||||
|---|---|---|---|---|---|
| Disposals | at 31/12/20 | Proceeds | Gain/Loss | ||
| 4/7/21 | 100Pimco Gis Gig Credit lnstit | 2,234.00 | $ 2,091.28 | $ -142.72 | |
| 7/26/21 | 35lshares Vll-Core S8P500 | 13,186.25 | 15,493.30 | 2,307.05 | |
| 7/29/21 | 4700 Pimco Gis Gig Credit Instit | 104,998.00 | 104,837.53 | -160.47 | |
| 120418.25 | 122422.11 | 2003.86 | |||
| Acquisitions | Cost | ||||
| 7/14/21 | 2560 Fidelity-Glob Div |
Y-Acc USD | 68,128.11 | ||
| 7/14/21 | 1705Pfizer | 68,549.91 | |||
| 7/14/21 | 424 Siemens | 68,773.33 | |||
| 205451.35 | |||||
| $ | |||||
| Market Value of investments at 31/12/20 |
1,039,770.00 | ||||
| Less Market Value at 31/12/20 of investments | sold | -120,418.25 | |||
| Add cost of investments | purchased | 205,451.35 | |||
| Adjusted Market Value |
at 31/12/20 | 1,124,803.10 | |||
| Market Value of investments at 31/12/21 |
1,245,234.00 | ||||
| Unrealised gain/loss |
in 2021 | 120,430.90 |