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2021-04-05-accounts

Claude & Margaret Pike Woodlands Trust Annual Report Year Ended 5 April 2021

Claude & Margaret Pike Woodlands Trust

Accounts
Year ended 5 April 2021
Contents Page
Reference and administrative details 1
Trustees’ report 2
Independent Examiners’ Report 7
Statement of financial activities 8
Balance sheet 9
Notes and accounting policies 10

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

Legal Status

The Charitable Trust is held and administered by the Trustees in accordance with the Trust Deed dated 14 April 1973. It is registered with the Charity Commission under reference number 266072.

Trustees

J D Pike Esq Dr P A D Holland Mrs S S Pike

The above Trustees are also the Custodian Trustees of the property.

Principal Address

Dunderdale Lawn Penshurst Road Newton Abbot Devon TQ12 1EN

Bankers

CAF Charity Services CAFCASH Ltd Kings Hill West Malling Kent ME19 4TA

Independent Examiner

S Austen FCCA Francis Clark LLP Chartered Accountants Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

Stockbroker/Adviser

J M Finn & Co 4 Coleman Street London EC2R 5TA

1

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

The Trustees’ present their annual report along with the Financial Statements of the Trust for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Trust’s Trust Deed, the Charities Act 2011 and Accounting and Reporting by charities, Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Structure, Governance and Management

The Claude & Margaret Pike Woodlands Trust is a Charity which was established on 14 April 1973 and is governed by a Trust Deed. It is registered with the Charity Commission under reference number 266072.

On 5 April 2010 the assets of the Claude and Margaret Pike Charity settlement, reference number 247657 were transferred into this Trust. The two charities had been established by the same settlors, and both had general charitable objectives and the same trustees.

The objects of the Trust are any such charitable purpose or purposes as the Trustees declare, including the following special objects:

The Trustees may also transfer assets to any incorporated charity or any officers of any unincorporated charity without being concerned to see the further application of any monies or property transferred.

The Trustees administer the Trust jointly and they make all trust decisions.

In planning the activities of the Trust, the Trustees kept in mind the Charity Commission’s guidance on public benefit at their Trustee meetings.

The main focus of the Trustees’ activities is to manage the Trust’s properties at Heathercombe in such a way as to protect and enhance their amenity, wildlife and environmental value and to open the extensive gardens to the public so that they can enjoy the beautiful, tranquil environment of the valley.

The Trustees are appointed by fellow Trustees. The Trust’s governing document does not require the reelection of Trustees.

No payments were made to the Trustees, except for the reimbursement of expenses, as shown in note 13.

Procedures and Policy for Grant Making

There have been no changes in the policy or procedures for making grants. The Trustees respond to applications as they receive them. They continue to make grants in support of the Trust’s special environmental objects.

2

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

In connection with the merger of the Claude & Margaret Pike Charity with this Trust in April 2010, the Trustees agreed to apply that Charity’s funds in a manner consistent with the purposes of the Charity. In exercising this Trust’s powers to make grants for such charitable purposes as the Trustees may declare, the Trustees intend that, in addition to supporting the Trust’s special environmental objects, they will be guided by the grant-making policy of the Charity, which was normally to make grants to organisations only for causes that are of potential benefit to people living in South Devon (especially in the Newton Abbot area), including causes that benefit their heritage, and normally to make grants to individuals only if they are 16 to 21 year old residents of South Devon for projects designed to expose them to challenges or experiences (especially overseas) that will stimulate them to play positive roles in the community as adults and where the Trustees feel that their grants will make a difference to the individuals’ ability to participate.

The Trust approved charitable donations during the year to 10 organisations totalling £27,416. These were financed by interest and dividends received from investments. The major donations were as follows:

High Heathercombe CIC - £20,000 Dean & Chapter of Exeter Development Appeal - £2,500 Homeless in Teignbridge Support - £2,000 MED Theatre - £1,250 Stover Historic Landscape Trust - £750 British Red Cross - £500

Achievements and Performance of the Trust

Heathercombe Woodlands and Gardens

The Trust owns Heathercombe Woodlands in the parishes of Manaton and North Bovey in the Dartmoor National Park. These woodlands comprise approximately 76.1 hectares in Heathercombe valley, 9.5 hectares known as Badger (or Vogwell) Wood, 5.8 hectares known as Jay’s Grave Wood, 22.9 hectares known as Lower Langdon Wood and 6.7 hectares known as Gratnar Wood – a total of approximately 121 hectares.

The woodlands are in an environmentally sensitive area adjacent to the open moor, and whilst much of the land is dedicated to commercial forestry, that in Heathercombe valley includes an arboretum with a large collection of interesting specimen trees and shrubs, woodland walks beside streams and ponds and a variety of garden areas. On Heatree Down there is an area of rough moorland grazing. Here and in the adjoining woodland there are several groups of Bronze Age hut circles and associated reeves. The woodlands in Heathercombe valley are traversed by the Two Moors Way (Eastern route) long distance public footpath and by a public bridleway to Grimspound. As a result many walkers pass through the woodlands.

The Trustees manage Heathercombe Woodlands with a view to fulfilling the following objectives:

3

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

In April 2016 the Trustees declared their Statement of Policy and Objectives for the Management of Heathercombe Woodlands. Those parts of Heathercombe Woodlands that are dedicated to commercial forestry are managed by Fountains Forestry UK Limited in close consultation with the Trustees - as they have been since the 1960s.

Following the felling of almost all of the conifer plantations in Heathercombe in the period since 2010 and the replanting with both broadleaved and conifer species, the landscape of the valley is beginning to take on its new appearance and habitat. Conifers are no longer the dominant species, the ‘garden’ areas beside the streams at the bottom of the valley that are opened to the public now being surrounded by native broadleaved species such as oak, birch and rowan. The wide variety of conifers planted on the higher slopes are going ahead well, notable the extraordinary natural regeneration of Sitka spruce on Newtake. Some expenditure was incurred during the year in weeding and protecting the young trees.

Routine work on estate maintenance continued during the year, including the removal of windblown trees, the flailing and cutting of grass, the maintenance of paths and rides, the repair of fences and the care of young specimen trees and shrubs planted in the developing arboretum areas of Oak Park and the former Sitka Wood and the older arboretum and woodland garden areas.

The open days planned for 29 March and the period from 10 May to 7 June had to be cancelled because of the Covid lockdown restrictions. However the restrictions were relaxed to enable the gardens to be open between 14 June and 5 July as planned on the basis that all visits had to be pre-booked and paid for on the National Garden Scheme website with a maximum of 50 visitors in specified time slots. No refreshments could be offered but picnicking was allowed. This system was so successful and easy to manage that it was decided to open on this basis from 7 to 26 July.

In total, the gardens were open for 34 days – only one short of the number originally planned. A total of 464 people visited the gardens, raising £2,320 for the NGS charities.

Heathercombe Brake: The High Heathercombe Centre

The Trust acquired Heathercombe Brake in 2000 and subsequently refurbished the purpose-built hostel on the property now known as the High Heathercombe Centre. The Centre is situated in a splendid elevated location above the woodlands and adjoining the open moor and is set in about 1.7 hectares of its own grounds. The Centre is managed on a charitable basis on behalf of the Trust by High Heathercombe CIC of which the directors are Penelope Holland, Gareth Keene, Tarn Lamb, Charlotte Oliver and John Pike. .

The Covid restrictions meant that all the residential courses booked for the year had to be cancelled and the offer made to return all deposits. Two non-residential drug rehabilitation courses were permitted in November and December 2020.

Tragically Mel Lamb died after a short illness on 13 July 2020. This was a huge loss. As manager of the Centre for twelve years Mell had worked tirelessly to bring thousands of people to Heathercombe to find peace, for reflection and for healing. She had worked to foster an ethos of earth care, fair shares and people care. She had also organised seven marvelous EDGE sculpture trails, bringing many artists and community groups to Heathercombe.

Recognizing that High Heathercombe CIC would suffer the loss of almost all its income for an extended period the Trust made grants of £10,000 on 14 April and 1 July 2020. Mel Lamb was furloughed from the beginning of June until her death. Towards the end of August the CIC received a Business Support Grant of £10,000. With the benefit of the grants and unexpected reduction in costs the CIC remained in a stable financial situation during the year. The directors of the CIC decided to replace Mel Lamb with a residential housekeeper in a much more limited role than that undertaken by Mel, and an appointment was made with effect from 10 April 2021.

6

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

South Heathercombe

The Trust’s South Heathercombe property, which it acquired in 2005, is a traditional Dartmoor long house dating back to the 15[th] century. It is occupied by the senior estate worker so that he can control activities in the valley and respond to emergencies.

Financial Review, Investment Policy and Reserves

The Trust’s policy on reserves is to endeavour to ensure long term financial sustainability for the achievement of the Trust’s charitable objectives, and in particular the maintenance of Heathercombe woodlands and gardens, by holding sufficient reserves in the form of investments so that the annual income therefrom, combined with any income from the Trust's properties and commercial forestry activity, is sufficient to cover the Trust’s annual expenditure. The Trustees will regularly consider whether there is a need to revise this policy.

The Trustees adopted a revised Investment Policy Statement in January 2017. This sets out the overall approach of the Trust to investments and the broad framework within which decisions are made concerning investments. The Trustees will keep under review the arrangements under which J M Finn & Co acts as the Trustees’ stockbroker/adviser.

The accounts disclose net income of £472,349 (2020 net expenditure: £363,691).

Total income received was £56,897 (2020: £66,478). Expenditure totalled £157,164 (2020: £175,140).

The realised and unrealised gains and losses on the investment portfolio during the year amounted to a net surplus of £572,616 (2020: deficit £255,029).

The closing share investment portfolio valuation at 5 April 2021 amounted to £2,344,855 (2020: £1,782,139) and cash deposits, providing interest, of £44,602 (2020 - £57,088). The income generated from portfolio and cash deposits held is currently adequate for the needs of the Trust.

Future Plans

The Trustees will continue to manage the woodlands in and around Heathercombe in accordance with their April 2016 Statement of Policy and Objectives for the Management of Heathercombe Woodlands. This will focus in the coming years on the care of the young broadleaf and conifer trees planted since 2010 and on the wild flowers of Heathercombe.

The Trustees plan to improve the information about the trees planted in the woodlands for the benefit of walkers on the footpaths running through Heathercombe and update the information on the Heathercombe website about the woodlands, gardens, wildlife and history of Heathercombe.

The Trustees will continue to develop the woodland gardens and ways in which the public can enjoy them. The Trustees will also continue to make modest grants in accordance with the policy indicated above.

Statement of Trustees’ Responsibilities

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to:

6

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2021

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions for the Trust Deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees

Mr J D Pike

6

Claude & Margaret Pike Woodlands Trust

Independent Examiners’ Report

Year Ended 5 April 2021

I report to the Trustees on my examination of the account of the Claude & Margaret Pike Woodlands Trust for the year ended 5 April 2021 which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S Austen FCCA Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

7

Claude & Margaret Pike Woodlands Trust

Statement of Financial Activities

Year Ended 5 April 2021

Unrestricted Unrestricted
Fund
2021 2020
Note £ £
Income from
Donations and legacies 5 1,203
Investments 5 44,602 57,088
Other activities 5 10,061 8,696
Charitable activities 5 1,031 694
–––––––– ––––––––
Total 56,897 66,478
–––––––– ––––––––
Expenditure
Charitable activities 6 157,164 175,140
–––––––– ––––––––
Net gains/(loss) on investments 10 572,616 (255,029)
–––––––– ––––––––
Net income and
Net movement in funds 472,349 (363,691)
══════ ══════
Reconciliation of Funds:
Total funds brought forward 3,270,480 3,634,171
–––––––– ––––––––
Total funds carried forward 3,742,829 3,270,480
══════ ══════
Represented by
Fixed assets 1,410,483 1,426,863
Investments 2,344,855 1,782,139
Current assets 53,937 108,834
Current liabilities (66,446) (47,356)
––––—— ––––——
3,742,829 3,270,480
══════ ══════

All income and expenditure derive from continuing activities.

The notes on pages 10 to 16 form part of these accounts.

8

Claude & Margaret Pike Woodlands Trust

Balance Sheet

Year Ended 5 April 2021

2021 2020
Note £ £
Fixed assets
Tangible assets 9 1,410,483 1,426,863
Investments 10 2,344,855 1,782,139
–––––––– ––––––––
3,755,338 3,209,002
Current assets
Debtors 11 8,443 3,979
Cash at bank and in hand 45,494 104,855
–––––––– ––––––––
53,937 108,834
Liabilities
Creditors – amounts falling due within one year 12 (66,446) (47,356)
–––––––– ––––––––
Net current assets (12,509) 61,478
–––––––– ––––––––
Total net assets 3,742,829 3,270,480
══════ ══════
The funds of the charity:
–––––––– ––––––––
Unrestricted funds 3,742,829 3,270,480
══════ ══════

These accounts have been prepared in accordance with the financial reporting standard (effective January 2020).

Signed on behalf of the Trustees on.

Mr J D Pike Trustee

The notes on pages 10 to 16 form part of these accounts.

9

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021

1 General Information

The Claude & Margaret Pike Woodlands Trust is a charity registered with the Charity Commission under reference number 266072. It is held and administered by the Trustees in accordance with the Trust Deed dated 14 April 1973.

The address of its principal place of business is:

The Heathercombe Estate Manaton Newton Abbot Devon TQ13 9XE

2 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of these financial statements are as follows:

(a) Basic of preparation and assessment of going concern

The accounts have been presented in sterling and rounded to the nearest £.

The Trust constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

(b) Income recognition

Donations are recognised when receivable.

Legacies are included where the Charity is advised by the personal representative of an estate that payment will be made or property transferred, and the amount involved can be quantified. Legacies subject to a life interest held by another party are not accounted for until their death.

Investment income is recognised on a receivable basis when notified by the financial advisor.

(c) Expenditure recognition

Grants payable are recognised when payment is authorised, and the recipient notified.

10

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

(d) Investments

Investments are a form of basic financial instrument and are originally recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the quoted market price.

Realised and unrealised gains and losses on the investments are credited/charged directly to the Statement of Financial Activities.

(e) Fixed assets and depreciation

Fixed assets are included in the accounts at their historical cost with the exception of tangible assets donated which were included at market value at that time.

Tangible assets other than freehold land are depreciated over their estimated useful lives, at the following rates:-

Freehold buildings 2% straight line Property improvements 2% straight line Motor vehicles 25% reducing balance Fixtures and fittings 25% reducing balance

(f) Fund accounting

The Trust has only a general fund which it uses for charitable purposes at its discretion.

3 Trustees’ Emoluments/Key Management Personnel

The Trustees are the key management personnel of the Trust.

No Trustees receive any remuneration. Details of expenses reimbursed to Trustees are shown in note 13.

4 Taxation

The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

11

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021 Year Ended 5 April 2021
5 Income 2021 2020
£ £
(a) Donations and Legacies
Government Grants 1,203 -
(b)Investment Income
Dividends 35,236 46,183
Foreign dividends 9,363 10,895
Bank interest 3 10
––––––– –––––––
44,602 57,088
––––––– –––––––
(c)Other activities
Rent 7,380 7,380
Grazing - -
Wayleave 2,681 1,316
Other - -
––––––– –––––––
10,061 8,696
––––––– –––––––
(d)Charitable activities
Sale of timber and woodland grants 1,031 694
––––––– –––––––

6 Expenditure

Activities Grant Total Total
undertaken Funding 2021 2020
directly
Note £ £ £ £
Charitable expenditure 7 116,277 - 116,277 150,854
Support of other organisations 8 - 20,000 20,000 5,000
Support of other charitable institutions 8 - 7,416 7,416 5,880
Investment management costs 10,047 - 10,047 9,962
Governance
Accountant - independent examination 1,000 - 1,000 1,000
- Accountancy 2,424 - 2,424 2,444
––––––– ––––––– ––––––– –––––––
129,748 27,416 157,164 175,140
══════ ══════ ══════ ══════

12

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021

7 Analysis of Charitable Expenditure Analysis of Charitable Expenditure 2021 2020
£ £
Employment costs 58,905 74,431
Depreciation 16,432 18,147
(Profit)/Loss on disposal of tangible fixed assets - -
Amenity Woodlands Maintenance & repair costs 12,231 11,240
Forestry Fountain Forestry Ltd costs 12,366 32,679
Forestry insurance 2,863 2,562
High Heathercombe Repairs and improvements 6,353 1,322
South Heathercombe Repairs and maintenance 551 5,287
(including Wayside) Council tax etc, insurance, heating 6,576 5,186
––––––– –––––––
116,277 150,854
––––––– –––––––

Included in the accounts are recharged wages and costs of £58,905 (2020: £74,431) relating to 3 employees, the average number in the period. The Trust’s share of Employer National Insurance contributions amount to £2,228 (2020: £3,549). Included in wage costs is a provision for pension contributions of £2,944 (2020: £3,646).

No employees were paid in excess of £60,000.

8 Analysis of Grants Payable 2021 2020
£ £
Charitable grants 7,416 5,880
Newton Abbot Town Council – for the Newton’s Place museum project - -
Grant to High Heathercombe CIC (note 13) 20,000 5,000
––––––– –––––––
27,416 10,880
––––––– –––––––

Grants totalling £27,416 were paid to 10 organisations during the year.

The following grants to organisations were made during the year:

£1,250 MED Theatre
£20,000 High Heathercombe CIC
£50 Devon Birdwatching & Preservation Society
£30 International Tree Foundation
£100 Cornwall Gardens Trust
£500 British Red Cross
£750 Stover Historic Landscape Trust
£236 Buckland & Milber Youth Club
£2,000 Homeless in Teignbridge Support
£2,500 Dean & Chapter of Exeter

13

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021

9 Tangible Fixed Assets

Freehold land
Property		 Fixtures Motor
and buildings improvements and fittings Vehicles Total
£
£		 £ £ £
Cost
At 5 April 2020 1,341,297
225,035		 75,952 38,731 1,681,015
Additions -
-		 52 - 52
Disposals
–––––––
–––––––		 ––––––– ––––––– –––––––
At 5 April 2021 1,341,297
225,035		 76,004 38,731 1,681,067
══════
══════		 ══════ ══════ ══════
Depreciation
At 5 April 2020 95,348
64,829		 68,521 25,454 254,152
Eliminated on disposals
Charge for the year 6,536
4,700		 1,878 3,318 16,432
–––––––
–––––––		 ––––––– ––––––– –––––––
At 5 April 2021 101,884
69,529		 70,399 28,772 270,584
══════
══════		 ══════ ══════ ══════
Net book value
At 5 April 2021 1,239,413
155,506		 5,605 9,959 1,410,483
══════
══════		 ══════ ══════ ══════
At 5 April 2020 1,252,949
160,206		 7,431 13,277 1,426,863
══════
══════		 ══════ ══════ ══════

The above are all used in direct furtherance of the Trust’s objects

14

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2021
10Fixed Asset Investments 2021 2020
£ £
Quoted investments:
Market value at 6 April 2020 (Including cash) 1,782,139 2,198,509
Additions 103,541 294,298
Disposals (103,394) (445,677)
Fair value adjustment 572,616 (255,029)
Management fees (10,047) (9,962)
–––––––– ––––––––
Market value at 5 April 2021 (Including cash) 2,344,855 1,782,139
══════ ══════
Net cash released from investments in the year was £Nil (2020: 150,000)
Investments in UK (Including cash) 1,838,201 1,415,510
Investments outside the UK 506,654 366,629
–––––––– ––––––––
2,344,855 1,782,139
══════ ══════
Historical cost at 5 April 2021 (Including cash) 1,523,526 1,517,778
══════ ══════
11Debtors 2021 2020
£ £
VAT 494 2,149
Trade Debtor 1,646 1,830
Other debtors 6,303 -
––––––– –––––––
8,443 3,979
══════ ══════

The Trust is also entitled to three bequests subject to life interests held by another party which have not been accrued in these accounts.

12 Creditors – Amounts Falling Due Within One Year 2021 2020
£ £
Trade creditors 1,078 13,014
Other creditors 59,368 31,342
VAT - -
Accruals 6,000 3,000
––––––– –––––––
66,446 47,356
══════ ══════

15

13 Related Party Transactions

16

Claude & Margaret Pike Woodlands Trust

Appendix A

Year Ended 5 April 2021

Listed Investments Year ended 5 April 2021

Listed Investments
Year ended 5 April 2021
Closing Opening
UK Equities Number Cost Valuation Valuation
3I Group 1,700 19,762 31,685 11,703
Artemis - - - 19,462
Astrazeneca 260 14,887 18,647 18,574
AXA Framinligton Unit Management 3,881 6,994 24,491 14,945
Bankers Investment Trust 1,920 19,890 21,312 15,264
Bayer AG 250 - - 11,719
BP 6,000 35,939 17,388 20,238
Carne Global Fund 70 19,605 28,826 19,165
Croda International 658 20,160 42,230 27,064
Dechra Pharmaceuticals 930 19,906 32,011 22,246
Diploma 1,200 9,902 31,152 16,980
EcoFin GBL 13,600 19,778 24,548 18,700
European Opportunities Trust 3,450 14,919 24,116 22,080
First state investments uk 13,500 14,661 28,189 24,714
First state investments uk 1,790 10,653 17,232 11,944
Fisher (James) & Son 740 9,952 8,362 9,694
GAM Star Fund 990 15,420 48,977 35,121
GCP Infrastructure investments ltd 14,279 14,963 14,593 16,050
GCP Student Living 14,400 16,534 22,349 18,374
Melrose Industries (takeover GKN) 14,968 11,084 25,978 11,265
Halma 1,500 12,663 36,570 28,343
HSBC - - - 13,616
Impax Environmental 5,800 17,903 25,636 14,268
Johnson & Johnson 320 20,122 37,598 34,994
Legal & General Group 10,960 12,751 31,072 17,503
Lloyds TSB - - - 6,073
LXI Reit PLC 23,500 24,973 29,516 24,816
Marlb Multi P Inco 22,100 34,145 33,035 24,964
M & G Investment Management Ltd - - - 2,735
National grid - - - 23,150
Ocado Group PLC 1,550 30,027 32,426 21,150
Old Mutual Fund managers 12,500 8,930 47,000 25,063
Project Finance Investments - CGP Asset 24,500 25,154 22,785 18,375
Prudential - - - 23,005
R&M UK 6,800 24,254 45,570 26,448
Reckitt Benckiser 350 6,449 22,740 21,882
Reliance AMS India Equities P 110 14,694 19,868 12,016
Renishaw 590 8,113 38,173 16,308
Rio Tinto 852 30,051 46,690 32,044
Roche Holdings AG 80 14,719 18,757 21,538
Royal Dutch Shell 2,043 30,654 27,282 28,978
Securities Trust of Scotland 13,600 20,021 27,200 21,692
Smith & Nephew 1,420 6,413 19,305 19,355
Smithson Investment Trust PLC 1,930 29,500 32,115 -
SVS Church House Inv Grade FXD XL IN 18,059 19,489 21,797 20,624

17

Claude & Margaret Pike Woodlands Trust

Appendix A continued Year Ended 5 April 2021

Number
Spectris
800
Spirax-Sarco Engineering
435
Unilever NV Euro.16
625
Total UK Equities
UK Unit Trusts
Number
Aberdeen Investment Funds ICVC III
29,856
Aegon Asset Management UK Plc
18,800
BB Healthcare Trust PLC
20,000
PFS - Dynamic Bond
Fidelity special values
16,000
Henderson Global Investors
21,868
Home REIT PLC
20,000
Malborough fund
1,543
Monks Inv Tst
2,950
PFS - Dynamic Bond
170
SHCR Strat Credit
25,000
BGBP 2.58938
9,500
Scottish Mortgage Invest
6,500
UK Treasury stock 1.25%
34,700
UK Treasury stock 2.5% 2024
23,900
COIF
12,681
Total UK Unit Trusts
Total UK Equities and Unit Trusts
Foreign Equities
Number
Amazon COM INC
16
BB Biotech AG CHFI
420
CC Japan Inc & Gth Convertibles
20,000
CC Japan Income and Growth
4,000
Civitas Social Housing PLC
24,500
EcoFin US Renewables
26,000
Findley Park Funds PLC
290
Hermes Investment
9,500
Linde PLC COM (Merged with Linde AG)
181
Loreal
80
Mondelez intl inc
650
Nestle SA
365
Novartis AG
355
Paypal Holdings
210
Polar capital funds
11,645
Polar capital Auto AIS
1,730
Symrise AG Npv
320
Visa Inc
145
Walt Disney
275		 Closing
Opening
Cost
Valuation
Valuation
11,781
27,328
18,368
4,599
50,417
34,191
19,594
25,114
24,369
722,007
1,180,078
941,167
Closing
Opening
Cost
Valuation
Valuation
29,310
32,307
29,023
24,666
24,513
-
20,170
37,800
24,200
-
-
16,785
19,885
43,360
26,208
26,448
31,052
28,669
20,170
22,800
-
11,225
36,662
19,975
24,974
40,474
22,361
19,405
19,429
-
24,641
24,100
21,110
24,793
26,505
18,126
24,974
42,369
35,003
68,040
69,001
69,579
72,391
85,204
86,160
50,000
83,979
70,278
461,092
619,554
467,476
1,183,098
1,799,632
1,408,642
Closing
Opening
Cost
Valuation
Valuation
18,989
37,117
24,864
16,261
27,054
18,676
20,170
28,350
20,900
428
320
-
25,173
26,362
23,643
19,270
19,175
-
6,758
34,443
26,695
19,923
18,782
12,184
14,865
36,511
24,003
14,875
22,003
16,657
10,889
27,487
26,908
13,607
29,569
31,170
12,572
22,117
24,182
19,751
37,898
15,814
19,067
28,297
22,941
14,866
22,594
14,653
14,779
28,474
24,353
20,011
22,834
17,946
19,605
37,268
21,042

18

Claude & Margaret Pike Woodlands Trust

Appendix A continued
Year Ended 5 April 2021
Total Foreign Investments
Cash balance held
Total Investments		 301,859
506,654
366,629
38,569
38,569
6,868
1,523,526
2,344,855
1,782,139

19