| CONTENTS | Pacae | |
|---|---|---|
| I egal and administrative | information | |
| Report ofthe trustees | 4-6 | |
| Report ofthe auditors | 7-9 | |
| Statement of Financial |
Activities | 10 |
| Balance Sheet | ||
| Notes forming part ofthe financial statements |
12-15 | |
| Three year summary | 16 |
| TRUSTEES. ' |
P. Chlapowski (Chairperson) |
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|---|---|---|---|
| Miss C Raczynska | |||
| Ms J Soszko | |||
| Dr W Micr Jedrzejowicz | |||
| Dr. J. Kamieniecki | |||
| TRUST DEED: | Dated 24th September 1973 | ||
| REG. CHARITY | NO: | 266428 | |
| ADDRESS: | Hlghmead | ||
| 10Roxborough Park |
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| Harrow | |||
| Middlesex HA1 3BE |
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| BANKERS: | Barclays Bank Pic | ||
| 114Gloucester Road | |||
| London SW7 4SE | |||
| SOLICITORS: | Messrs Farrer 8 Co. | ||
| 66 Lincoln's Inn Fields |
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| London WC2A 3LH | |||
| INVESTMEN | MANAGERS; | Investec Wealth and Investment |
Ltd |
| 30Gresham Street |
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| London EC2V 7QN | |||
| AUDITORS; | McCormack &Associates |
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| Registered Auditors |
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| Chartered Certified Accountants |
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| 311Chase Road | |||
| Southg ate | |||
| London N14 6JS |
| STATEMENT OF FINANCIAL ACTIVITIES |
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|---|---|---|
| FOR THE YEAR ENDED 31STDECEMBER 2020 | ||
| Unrestricted | Funds | |
| NOTES | 2020 | 2019 |
| Incoming Resources | ||
| Dividend and interest income Interest |
71,795 3 |
93,180 116 |
| Total Incoming resources | 71,798 | 93,296 |
| Resources Expended | ||
| Direct charitable expenditure Management and administration |
49,500 25,158 |
48,200 25,486 |
| Total expenditure | 74,658 | 73,686 |
| Net Incoming/(outgoing) Resources before investment asset disposals |
(2,860) | 19,610 |
| Profits/(Losses) arising on |
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| Stock Exchange investments: Realised Profits/(Losses) Unrealised Profits/(Losses) (165,918) 177,133 |
3,799 360,241 |
|
| 11,215 | 364,040 | |
| Net movement in funds for the year |
8,355 | 383,650 |
| Total funds brought forward |
3,168,436 | 2,784,786 |
| Total funds carried forward | 3,176,791 | 3,168,436 |
| Interest Received | 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|
| Same was received gross in | ||||||||
| respect of short-term deposits Stockbrokers |
with: | 116 | ||||||
| Barclays Bank Pic | ||||||||
| 116 | ||||||||
| 3. | Direct Charitable ex enditure |
2020 | 2019 | |||||
| Grants and donations | 49,500 | 48,200 | ||||||
| 4. | Mana ament and administration |
ex enses | 2020 | 2019 | ||||
| Audit fee | 5,400 | 5,280 | ||||||
| Investment Portfolio Management |
Fees | 19,758 | 20,156 | |||||
| Bank and other charges | 50 | |||||||
| 25,158 | 25,486 | |||||||
| The investment manager, Investec Wealth and Investment Ltd. , is a percentage ofthe portfolio value. No commissions were charged |
remunerated based on on transactions, |
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| 5. | Investments held on 31"December 2020 |
Mid | Market | Mid market | ||||
| Price on | Price on | |||||||
| Investments | 31.12.20 | 31,12.19 | ||||||
| Fixed interest stocks | 500,204 | 470,127 | ||||||
| Equities& Alternative assets |
2,154,901 | 2,100,286 | ||||||
| Property Fund |
143,716 | 149,523 | ||||||
| Alternative assets —Infrastructure |
& other | Funds | 221,220 | 170,806 | ||||
| Money Market Instrument | 100,000 | |||||||
| 3,020,041 | 2,990,742 |
| Investments summa |
2020 | 2019 | |||
|---|---|---|---|---|---|
| Investments at market value on 1st January 2020 Acquisitions at cost Sale proceeds from disposals |
2,990,742 1,462,098 (1,444,014) |
2,503,670 425,913 (302,881) |
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| Profits/(Losses) in the year: |
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| Realised Profits/(Losses) | (165,918) | 3,799 | |||
| Unrealised Profits/(losses) |
177,133 | 360,241 | |||
| 11,215 | 364,040 | ||||
| INVESTMENTS AT MARKET VALUE | |||||
| ON 31STDECEMBER 2020 | 3,020,041 | 2,990,742 | |||
| 6, | Debtors | 2020 | 2019 | ||
| Prepayments | 23,400 | ||||
| 7. | Cash at bank | 2020 | 2019 | ||
| Cash at bank | 149,303 | 142,796 | |||
| Cash on deposit with Stockbrokers | 40,132 | 21,934 | |||
| 189,435 | 164,730 | ||||
| 8, | Creditors and accrued char es | 2020 | 2019 | ||
| Grants payable | 22,100 | ||||
| Investment Portfolio Management |
Fees | 5,185 | 5,157 | ||
| Audit and accountancy | 5,400 | 5,280 | |||
| 32,685 | 10,437 |
| 9. | Trust Ca | Ital Account | 2020 | 2019 | ||
|---|---|---|---|---|---|---|
| At beginning of the year |
3,168,436 | 2,784,786 | ||||
| Net movement in funds for the year: |
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| Realised | profits/(losses) | (168,778) | 23,409 | |||
| Unrealised | profits/(losses) | 177,133 | 360,241 | |||
| 8,355 | 383,650 | |||||
| At end of | the year | 3,176,791 | 3,168,436 | |||
| 10. | Contin ent liabilities |
NONE | NONE | |||
| 11, | Financial | commitments | NONE | NONE |
| 2020 | 2019 | 2018 | ||||
|---|---|---|---|---|---|---|
| Incoming Resources | 71,798 | 93,296 | 84,060 | |||
| Total expenditure | (74,658) | (73,686) | (76,525) | |||
| Net incoming resources/(expenditure) |
(2,860) | 19,610 | 7,535 | |||
| Profits/(Losses) arising |
on | |||||
| Stock Exchange investments; |
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| Realised profits/(losses) | (165,918) | 3,799 | (4,988) | |||
| Unrealised profits/(losses) |
177,133 | 360,241 | (189,553) | |||
| 11,215 | 364,040 | (194,541) | ||||
| Net movement on funds |
8,355 | 383,650 | (187,006) | |||
| Net Funds Em lo ed |
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| Investments | 3,020,041 | 2,990,742 | 2,503,670 | |||
| Current Assets | 189,435 | 188,131 | 291,118 | |||
| Current liabilities |
(32,685) | (10,437) | (10,002) | |||
| Net Assets | 3,176,791 | 3,168,436 | 2,784,786 | |||
| ~Ca ital |
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| Total funds brought forward |
3,168,436 | 2,784,786 | 2,971,792 | |||
| Net movement on funds |
8,355 | 383,650 | (187,006) | |||
| Trust Capital Account | 3,176,791 | 3,168,436 | 2,784,786 |