## ## ## ## ## |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| ||||||||OOO|OOO||||0 IO
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