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|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|
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|TRUSTEES.
'||P. Chlapowski
(Chairperson)||
|---|---|---|---|
|||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||
|||Harrow||
|||Middlesex
HA1 3BE||
|BANKERS:||Barclays Bank Pic||
|||114Gloucester Road||
|||London SW7 4SE||
|SOLICITORS:||Messrs Farrer 8 Co.||
|||66 Lincoln's
Inn Fields||
|||London WC2A 3LH||
|INVESTMEN|MANAGERS;|Investec Wealth
and Investment|Ltd|
|||30Gresham
Street||
|||London EC2V 7QN||
|AUDITORS;||McCormack
&Associates||
|||Registered
Auditors||
|||Chartered
Certified Accountants||
|||311Chase Road||
|||Southg ate||
|||London N14 6JS||
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|STATEMENT OF FINANCIAL
ACTIVITIES|||
|---|---|---|
|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|||
|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|
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||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,||
|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)|
||Profits/(Losses)
in the year:|||||
||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:||||||
||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|
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||||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;|||||||
|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|||||||
|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|||||||
|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|