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|Table of Contents||
|Legal and Administration||
|Trustees
Annual
Report||
|Independent
Auditors
Report||
|Statement
of Financial Activities|10|
|Balance Sheet||
|Statement ofCash Flows|12|
|Investment
Portfolio Valuation|13|
|Accounting
Policies and Notes to Accounts|16|
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||||||2020|2019|
|---|---|---|---|---|---|---|
||||||6||
|income|||||||
|Income from Investments|||||109,797|136,269|
|Total Income|||||109,797|136,269|
|Expenditure|||||||
|Costs of raising funds|||||||
|Investment
management|costs||||29,054|30.080|
|Other expenditure|||||4,140|4,170|
|Total Expenditure|||||33,194|34,250|
|Net Income/(Expenditure)||before Gains and Losses|||||
|on Investments|||||76,603|102,019|
|Net Gain/(loss)on
investments|||Note|I|71,167|607,835|
|Net Movement
in Funds|||||147,770|709,854|
|Reconciliation
ofFunds. '|||||||
|Funds Brought Forward|||||4,856,728|4,146,874|
|Total Funds Carried|Forward||||5,004,498|4,856,728|
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|Balance Sheet|as at|De|cember 20|20||||
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||6||
|Investments||||||||
|Market value
I January||||||4,803,273|4,390,641|
|Additions
during the year||||||1,256,369|683,374|
|Disposals
during the year||||||(1,158,181)|(878,577)|
|R,ealised
gains on disposal||||||(66,864)|102,266|
|Unrealised
(loss)/gsins|on revaluation|||||138,031|505,569|
|Other movements||||||(608)||
|Market Value 31 December||||||4,972,020|4,803,273|
|Current Assets||||||||
|Investec Deposit and Income Account||||27,947|||44,633|
|Bank ofScotland Flexible Current||Account||20,644|||20,645|
|||||48,591|||65,278|
|Liabilities||||||||
|Creditors||||(11,973)|||(11,823)|
|St Paul's Cathedral||||(4,|140)|||
|||||(16,113)|||(11,823)|
|Net Current
(Liabilities)/Assets||||||32,478|53,455|
|Total Net Assets||||||5,004,498|4,856,728|
|Funds ofthe Charity||||||||
|Restricted
Funds||||||||
|Capital
Fund||||||||
|Opening
value||||4,599,757|||3,991,922|
|Realised
gains on disposal ofinvestments||||(66,864)|||102,266|
|Unrealised
(loss)/gains|on revaluation||ofinvestments|138,031|||505,569|
|Closing Value||||||4,670,924|4,599,757|
|Income Fund||||||||
|Opening
value||||256,971|||154,952|
|Income less expenditure||||76,603|||102,019|
|Closing Value||||||333,574|256,971|
|Total Charity
Funds||||||5,004,498|4,856,728|
|The financial
statements|on pages|10to 18were approved||by the Truste||s on 14June 2021|and signed on their behalf|
|by:||||||||
|Jam
ambro,
Chairman||||Anthony|13ird,|Trustee||
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|Reconciliation
of
ctivities|net inc|ome to|net|cash|flows from|operat|
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||6|6|
|Cash flows from operating|activities||||||
|Net expenditure
for the reporting
period|||||147,770|709,854|
|(as per the statement
ofgnancial activities)|||||||
|Adjustments
for:|||||||
|Dividends,
interest
and rents|from investments||||(109,797)|(136,269)|
|Loss/(Gains)
on investments|||||PI, 167)|(607,835)|
|Other movements
in investments|||||608||
|Increase / (Decrease) in creditors|||||4,290|(399,560)|
|Net cash used in operating|activities||||(28,296)|(433,810)|
|Cash flows (rom Investing|activities||||||
|Dividends,
interest
and rents|(rom investments||||109,797|136,269|
|Proceeds from sale of investments|||||1,158,181|878,577|
|Less: Purchase
of Investments|||||(1,256,369)|(683,374)|
|Net cash used in Investing|activities||||11,609|331,472|
|Change
In cash and cash equivalents||in the reporting||period|(16,687)|(102,338)|
|Cash and cash equivalents
at|the start ofthe reporting||period||65,278|167,616|
|Cash and cash equivalents|at the end ofthe reporting|||period|48,591|65,278|
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|Investmen|t
Portfolio as at 3 I D|ecem|ber 202|0||
|---|---|---|---|---|---|
|2020 Holding|Stock Description|||2020f|2019E|
||Fixed Interest and Bonds|||||
|66,000|A2D Funding
Pic 4.7590Gtd Snr 18/10/22 GBP|||70,782|70,897|
|74,000|Barclays Bank Pic5.75' Sub 14/09/26 GBP1000|||92,286||
|60,000|Intermed
Cap Grp 59v Gtd Snr 24/03/2023||GBP|64,802|63,315|
|13,200|Ishares
li Pic USD Tips Ucits Etf GBP Dls|||71,577||
|60,000|Natl Australia
Bk5.125/0 Snr Mtn 09/12/21||GBP|62,999|64,725|
|73,000|Scot Power UK Pic6.75YoSnr 29/05/23 GBP1000|||87,039||
||UK(Govt of) 2.5SSIdx/Lkd 17/07/24||||92,045|
||UK(Govt of)
Idx/Lkd
Snr 16/04/2020|G8P|||106,036|
||Total Fixed Interest and Bonds|||449,485|397,018|
||Equities|||||
|63,800|Aberdeen
Std Fd Mg ASI UK Smlr Cos Instl||GBP D|76,751||
|9,700|Assocd Brit Foods Ord GBP0.0568 n|||219,657|251,958|
|1,420
23,350|Astrazeneca
Ord USD0.25
Baillie Gifford American
W3 Dis '|||104,029
414,696|102,307|
|5,100|Baillie Gifford Japanese W3 Dis|||90,882||
|1(865|BHP Group Pic Ord USDO.SO|||35,927|33,169|
|37,500|Blackrock Fm Ltd European
Dynamic|Fd inc||94,088|70,294|
|11,000|Blackrock Throgmor
Ord GBP0.05|||84,150|75,240|
|7,300
24,128|8P Ord
U 5 DO.25
Brown Advisory
Fds US Sustainable|Gth Si|GBP'|18)602
300,870|80,193|
|1,150|Ceres Power Hldgs Ord GBP0.10|||15,111||
|2,200|Compass
Group Ord GBP0.1105|||30,041|41,586|
|715|CRH Ord EURO.32|||21,879|21,747|
|2,800|Diageo Ord GBP0.28 101/108|||80,759|89,607|
|1,735
2,400|Experlan
Ord USD0.10
Findlay Park Fds American
USD Dis|'"||48,233
277,049|44,303
248,566|
|57,500|Franklin Tempi/Im
UK Mid Cap S6BP Acc|||80,811|93,984|
|3,700|Glaxosmithkllne
Ord GBP0.25|||49,658|75,421|
|2,430|Halma Ord GBP0.10|||59,596|61,882|
|950|Hargreaves
Lansdow
Ord GBP0.004|||14,483||
|101,650|Henderson
Investme
European Selected 0pps G Gb|||116,288|106,021|
|62,000|Hermes
Fd Mangers
F H Gbl Emng|Mtks J|GBP Acc|113,869|94,395|
|10,210|HSBC Holdings
Pic Ord USDO.SO(Uk|Reg)||38,678|97,050|
|2,100|Informa Pic Ord GBP0.001|||11,514||
|530|Intertek Group Ord GBP0.01|||29,972|23,108|
|5,330|ITM Power Ord GBPO.OS|||27,396||
|6,800|Legal &General
Gp Ord GBP0.025|||18,098||
|60,000|Lloyds Banking Gp Ord GBP0.1|||21,909|37,521|
||Sub-totol conled forward|||2,494,996|1,648,352|
||||||13|
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|nvestment|Portfolio as at 3 I Dece|mb|er 202|0 (continued)||
|---|---|---|---|---|---|
|2020 Holding|Stock Description|||2020 E|2019E|
||Sub-totol brought forward|||2,494,996|1,648,352|
|220|London Stock Exch Ord GBP0.06918604|||19,826||
|12,400|Londonmetric
Prop Ord GBP0.10|||28,446||
|55,000|Merian
Invest Mgmt Merlan
UK Mid Cap Ul GBP|||104,225|94,435|
|1,955|Mondi Pic Ord EURO.20|||33,621|24,553|
|4,335|National
Grid Ord GBP0.12431289|||37,502|40,996|
|3,845|Polar Cap Tech Tst GBP0.25|||88,435|61,020|
|800|Polar Capital
Fund Global Technology|GBP|I|51,504|56,200|
|3,680|Prudential
GBP0.05|||49,634|66,296|
|3,060|Relx Pic GBP0.1444|||54,858|58,301|
|1,850|Rio Tinto Ord GBP0.10|||101,269|65,290|
|5,000|Royal Dutch Shell '8'Ord
EURO,07|||62,975|111,988|
|4,905|Sage Group 6BP0.01051948|||28,591|36,724|
|230|Schroder
inv Mg E ISFAsian Total Rtn|CGBP||103,416|82,703|
|1,460|Smith & Nephew
Ord USD0.20|||22,050|26,747|
|2,100|Smiths Group Ord GBP0.375|||31,589|35,406|
|13,000|Tesco Ord GBP0.05|||30,102||
|1,500
5,600|Unilever
Pic Ord GBP0.031111
Vanguard
Funds Pic S&P500 Ucits Etf USD||Dis '|65,978
290,241|80,054
171,481|
|20,000|Vodafone Group Ord USD0.2095238|||24,190|29,362|
|1,075|Vontobel Asst Mgmt MTX Sust Asian|Leaders Ex||136,858|72,982|
||Aberdeen
Std Fd Mg ASI Europe Ex UK Inc||Eqty||62,179|
||Aberforth
Smlr Cos Ord GBP0.01||||30,780|
||Aviva Ord GBP0.25||||31,418|
||Carnival
Pic Ord USD1.66||||29,310|
||Ishares FTSE250 FTSE250 Uclts Etf||||98,711|
||JPMorgan
Am UK Ltd US Equity Income C||Inc Nav||162,932|
||Land Securities Gp Ord GBP0.106666666||||46,397|
||Link Fund Sol Ltd LF Llndsell Train UK|Eqty|||23,953|
||M&G Pic Ord GBP0.05||||9,792|
||Man Fd Mgmt
UK Ltd Man GLG Jpn Core Alpha Prof||||66,384|
||Polar Capital
Fund North Amer 5 GBP Dis||Nav||230,890|
||Schroder Unit TstTokyo
LAcc||||84,088|
||Standard
Chart Pic Ord USD0.50||||37,406|
||STD Life Aberdeen
Ord GBP0.1396825396||||21,546|
||Whitbread
Ord GBP0.76797385||||27,668|
||Wood Group (John) Ord GBP0.0428571||||10,923|
||Total Equities|||3g860 306|3737~267|
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|nvestment|Portfolio|Portfolio|as at 3|I|December 20|20 (continued)||
|---|---|---|---|---|---|---|---|
|2020 Holding|Stock Description|||||2020 6|20196|
||Property|||||||
|82,000|CCLA Investment||Ma Property||inc|91,828|96,957|
|110,000|Charities
Prop Fd||Property|Fund income||136,582|140,206|
|104,443|Ma fair Capital|In Prop inc||Trust for Charitie||85,278|91,314|
||Total Property|||||313,688|328,477|
||Other|||||||
|37,750|Hicl infrastructu.||Ord GBP0.0001|||65,534|47,312|
|80,000|INT Public Partner Ord GBP0.0001|||||136,080|133,600|
|115,234|The Renewables||inf Ord Npv|||146,927|159,599|
||Total Other|||||348,541|340,511|
||Total|||||4972r020|4r803r273|
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|||||2020 (E)|2019(6)|
|---|---|---|---|---|---|
|Description||||||
|Audio
visual room||||87,000|87,000|
|Black and gold marble||||88,299|88,299|
|Cathedral
repolntlng||||10,000|10,000|
|Cathedral
Fabric||||250,000|250,000|
|Christmas
crib||||10,000|10,000|
|Church Boor tiles replacement||||62,333|62,333|
|Crypt Cafe||||126,173|126,173|
|Crypt developments||||310,620|310,620|
|Crypt electrical work||||134,000|134,000|
|Crypt Refectory||||302,801|302,801|
|Crypt Shop||||368,667|368,667|
|Diocesan treasury
in the crypt||||60,000|60,000|
|Dome catwalks||||65,200|65,200|
|Dust extraction
system||||21,473|21,473|
|Emergency
lighting||||4,986|4,986|
|Equal Access Project||||400,000|400,000|
|External fabric
- Lord Mayor's Appeal|||1994|1,000,000|1,000,000|
|Grand organ||||417,328|417,328|
|14eatlng and ventilation|report|||4,186|4,186|
|Interpretation
Project||||250,000|250,000|
|Lagging replacement||||165,682|165,682|
|Latchway
safety equipment||||52,736|52,736|
|Library improvements||||1,294|1,294|
|Library roof||||72,000|72,000|
|Model aisle||||200,000|200,000|
|North portico statues|removal|||10,075|10,075|
|OBEorgan blower
and|toilet|||25,000|25,000|
|Quarter
dome pathways||||2,788|2,788|
|Refectory||||10,427|10,427|
|Signage||||10,744|10,744|
|Sound ampgiicacion
system||||117,032|117,032|
|South Churchyard||||283,000|283,000|
|South portico restoration||||124,000|124,MO|
|ScDunstan's
Chapel||||15,000|15,000|
|Staging||||20,000|20,000|
|Statues reinforcement|on|north and|south pediments|894|894|
|Structural
measurements||||8,402|8,402|
|Surveyor's
and structural||engineer's|reports|25,000|25,000|
|Treasury
and Wren's great model||||44,527|44,527|
|Vicars choral restroom||||7,667|7,667|
|||||5,169,334|5&169,334|