2021-04-05-accounts - M And C Trust

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Ob ectives	Ob ectives	and	Activities for the ublic benefit continued	Activities for the ublic benefit continued	Activities for the ublic benefit continued	Activities for the ublic benefit continued
Investment		Policy and
Performance					The Trustees have power	under		the Settlement					Deed to invest sums								held		in
					any form they think fit. In recognition					ofthe	value		ofexpert advice, the Trustees
					have delegated the management				of their		investment				porffolio		to		Julius			Baer
					Portfolio Managers Limited	with the				stated objective					of maximising				long-term
					total return subject to risks	normally				associated			with		a balanced			approach					to
					portfolio management.
					During the year to 5 April		2021			the	porffolio			managed			by		Julius			Baer
					appreciated by 18.83%	measured				on	a	total		return		basis,			against				its
					benchmark appreciation of	19.12%.
Plans for	future		eriods		The trustees short-term objective				is to continue					to	make	grants,			as	set			out
					above. The trustees aim to utilise					the unrestricted					and endowment					funds			to
					achieve this objective.
Structure	Governance			and Mana ement
Settlor:					Cecil George Bernstein
Governing		Document:			The principal governing document				is a trust deed					dated 7 August					1972.			The
					trust is a private charitable trust		controlled				by its trustees.
Appointment		of	Trustees:		The power to appoint trustees vesta				with the current					trustees.
					If new or additional trustees	are appointed					they		will		be encouraged				to		receive
					appropriate training depending		on		their qualifications						and experience.					The			lay
					trustees rely on outside advisors		as		necessary.
Reference	and Administrative details
Name ofCharity:					M &C Trust
					Charity No. 265391
Trustees:					Elizabeth Julia Marks
					Rachel Jane Lebus
					Victoria Jane Fairley
					Matthew Bernstein
Principal	Office		Address:		Mercer & Hole Trustees Ltd
					Gloucester House
					72 London Road, StAlbans
					Hertfordshire, AL1 1NS
Investment		Managers:			Julius Baer Porffolio Managers		Ltd
					1 St Martin's Le Grand
					London, EC1A 4AS
Bankers:					CAF Bank
					25 Kings Hill Avenue,
					West Mailing, Kent, ME194JQ

Statement of Financial Activities
for the year ended 5 April 2021
		Expendable	Unrestricted	2021	2020
		Endowment	Income	Total	Total
Income and endowments	Notes	Funds	Funds f	f	f
Income from investments	3		87,682.00	87,682.00	131,904
Tax repayable			277.30	277.30	594
Total income and endowments			87,959.30	87,959.30	132,498
Expenditure on:
Costs of raising funds Investment management costs	4	26,953.25		26,953.25	28,875
Charitable activities	5	17,583.96	139,087.09	156,671.05	198,755
Total expenditure		44,537.21	139,087.09	183,624.30	225,630
Net gain/(loss) on currency exchange Net gains/(losses) on investments Net income/(expenditure)		( 8,554.23) 801,902.91 750,811.47	( 51,127.79)	( 6,554.23) 801,902.91 699,683.68	987 ~020„970 ( 731,123)
'Transfer between funds	7	~57,727.79	51,12779
Net Movement in funds		699,683.68		69968368	( 731 123)
Reconciliation offunds
Total funds brought forward Total funds carried forward		4,041,711.99 4,741,395.67		4,041,711.99 4,741,395.67	4,772,835 4,041,712

Balance sheet 5April 2021
			2021		2020
		Expendable	Unrestricted	Total	Total
		Endowment	Income
		Funds	Funds
	Notes	F
Fixed assets
Listed investments
at market value	6	4,352,014.00		4,352,014.00	3,827,392
Current assets Income tax recoverable Balance with Julius Baer Balance with CAF Bank		1,350.35 379,679.67 8,351.65	700.00	1,350.35 379,679.67 9,051.65D 1,073 204,813 33,434
		389,381.67	700.00	390,081.67	239,320
Liabilities:
Donations			700.00	700.00	25,000
Net current assets		389,381.6'7		389,381.67	214,320
Total net assets		4,741,395.67		4,741,395.67	4,041,712
Total charity funds		4,741,395.67		4,741,395.67	4,041,712

fo	r the year ended 5 April 20	21
3.	Investment income					2021	2020
							2
	Dividends					87,682.00	131994
4.	Cost ofraising funds					2021	2020f
	Investment management	charges				26,953.25	28,875
	The Investment management		costs are all attributable		to endowment	funds.
5.	Charitable activities					2021	2020
						6
	Charitable activities					156,671.05	198.755
	The breakdown ofcharitable		activities	Is as follow:
						2021f	2020 E
	Grants					126,000.00	180,000

Analysis of	charitable	expenditure:
		Expendable	Unrestricted
Governance	costs	Endowment	Income	Total
		Funds	Funds	Funds
		2021	2021	2021	2020
Accountant's charges Independent examination Secretarial charges Legalfees Bank interest paid Bank charges		fees 6,165.00 11I,418.96	6,165.00 1,800.00 120.00 4,893.84 108.25	12,330.00 1,&00.00 120.00 16,312.80 108.25	9,420 1,080 339 5,818 32 66
		I 17583.96	13,087.09	30,671.05	16,755
Total charitable activities				156,671.05	198.755

year ended 5April 2	021
ed asset investments		2021	2020
		F
Market value at 5 April	2020	3,827,392.00	4,514,254
Additions		1,830,086.19	1,151,453
Disposals		( 2,107,367.10)	( 1,209,337)
Net realised investment gains/(losses) Net unrealised investment gains/(losses)		232,796.16 569,106.75	( 3,231) ~635,747
Market value at 5 April	2021	4,352,014.00	3,827,392
Historical cost at 5 April	2021	3,962,283	4,261,896

				Expendable	Unrestricted	Unrestricted
				Capital	Income		2020
			Notes	Funds	Funds		Total
				6	6		F
Income and endowments	from
Investment income					131,904		131,904
Interest receivable
Tax repayable						594	594
Total income and endowments					132,498		132,498
Expenditure on
Costs of raising funds
Investment management	costs			28,875			28,875
Charitable activities				9,207	187,548		196,755
Total expenditure				38,083	187,548		225,631
Net gain on currency exchange Net gain on investments			6	988 ~638,978			988 ~638,978
Net expenditure				( 676,073)	( 55,050)		( 731,123)
Transferred from endowment		for		55,050.05	55,050.05
Net Movement in Funds				( 731,123)			( 731,123)
Reconciliation offunds
Total funds brought forward				4,772,835			4,772,835
Total funds carried forward				4,041,712			4,041,712

.Grants made and Grant	commitments
		Paid	Provided		Charged in	Charged in
		in the	but not	paid	SOFA	SOFA
		year	at 5/4/21		2021	2020
One year grants		6	6		5	E
Aphasia Re-Connect		3,500			3,500	5,000
Become		3,500			3,500	5,000
Blesma		3,500			3,500	5,000
Carers Trust		7,000			7,000	10,000
Community Security Trust		7,000			7,000	10,000
Deafblind UK		3,500			3,500	5,000
Destitute Asylum Seekers						5,000
Freedom From Torture		5,500			5,600	8,000
Handicapped Children's	Action Group	3,500			3,500	5,000
Holocaust Education Trust		7,000			7,000	10,000
Hot Line Meals Service		2,100			2,100	3,000
Jerusalem Foundation		7,000			7,000	10,000
Jewish Care		7,000			7,000	10,000
Jewish Women's Aid		7,000			7,000	10,000
Kids N'Action		3,500			3,500	5,000
London Jewish Cultural	Centre
(JW3 Development)		7,000			7,000	10,000
Milly Days				700	700	1,000
Mulberry Bush Organisation		5,600			5,600	8,000
Nightingale Hammerson		7,000			7,000	10,000
NNLS Asylum Seeker Drop-in		3,500			3,500
Norwood		7,000			7,000	10,000
OXPIP		3,500			3,500	5,000
Peeple		3,500			3,500	5,000
Refugee Resource		3,500			3,500	5,000
Space4Autism		3,500			3,500	5,000
WaveLength		3,500			3,500	5,000
World Jewish Relief		7,000			7,000	10,000
Total one year grants		125,300		700	126,000	180,000
Total for the year		125,300		700	126,000	180,000

Summary ofgrants to institutes made in th	e year:
	6
Health	30,100
Education	7,000
Youth Work	10,500
Community	21,000
Social Care	21,000
Relief for Poverty	26,600
Other	8,800
	126,000

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