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|CONTENTS|||Pacae|
|---|---|---|---|
|Legal 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)|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:|Highmead|||
||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|||
|INVESTMENT MANAGERS:|Investec Wealth and Investment||Ltd|
||30 Gresham
Street|||
||London EC2V 7QN|||
|AUDITORS:|McCormack
&Associates|||
||Registered
Auditors|||
||Chartered
Certified Accountants|||
||311Chase Road|||
||Southgate|||
||London N14 6JS|||
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|FOR THE YEAR ENDED 31STDECEM|BER 2021||||
|---|---|---|---|---|
||||Unrestricted|Funds|
||NOTES||2021|2020|
|Income|||||
|Dividend
and interest income
Interest|||54,849|71,795
3|
|Total Income|||54,849|71,798|
|Expenditure|||||
|Direct charitable
expenditure
Management
and administration|||50,988
28,002|49,500
25,158|
|Total expenditure|||78,990|74,658|
|Net income/
(expenditure)
before investment
asset disposals|||(24,141)|(2,860)|
|Profits/ (Losses) arising on|||||
|Stock Exchange investments:
Realised
Profits/ (Losses)
Unrealised
Profits/ (Losses)||11,282
298,934|(165,918)
177,133||
||||310,216|11,215|
|Net movement
in funds for the year|||286,075|8,355|
|Total funds brought forward|||3,176,791|3,168,436|
|Total funds carried forward|||3,462,866|3,176,791|
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||Interest Received||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||Same was received|gross||in|||||
||respect of short-term||deposits||with:||||
||Stockbrokers||||||||
||Barclays Bank Pic||||||||
|3.|Direct Charitable ex enditure||||||2021|2020|
||Grants||||||44,200|45,500|
||Scholar's expenses||||||1,400||
||Donations||||||5,388|4,000|
||||||||50,988|49,500|
|4.|INana
ement and|administration||||ex enses|2021|2020|
||Audit fee||||||5,640|5,400|
||Investment
Portfolio||Management|||Fees|21,309|19,758|
||PAU administration||charges||||947||
||Bank and other charges||||||106||
||||||||28,002|25,158|
|5.|Investments|held on|31"December 2021|31"December 2021|Mid Market|Mid market|
|---|---|---|---|---|---|---|
||||||Price on|Price on|
||Investments||||31.12.21|31.12.20|
||Fixed interest stocks||||390,603|500,204|
||Equities
8,|Alternative|assets||2,503,931|2,154,901|
||Property
Fund||||161,294|143,716|
||Alternative|assets —Infrastructure||8 other Funds|271,960|221,220|
||||||3,327,788|3,020,041|
||Investments
summa|||||
|---|---|---|---|---|---|
||||2021||2020|
||Investments
at market value|||||
||on 1st January
2021
Acquisitions
at cost
Sale proceeds from disposals||3,020,041
808,691
(811,160)||2,990,742
1,462,098
(1,444,014)|
||Profits/ (Losses) in the year:|||||
||Realised
Profits/ (Losses)|11,282||(165,918)||
||Unrealised
Profits/ (losses)|298,934||177,133||
||||310,216||11,215|
||INVESTMENTS AT MARKET VALUE|||||
||ON 31STDECEMBER 2021||3,327,788||3,020,041|
|6.|Debtors||2021||2020|
||Prepayments|||||
|7.|Cash at bank||2021||2020|
||Cash at bank||91,862||149,303|
||Cash on deposit with Stockbrokers||76,467||40,132|
||||168,329||189,435|
||Creditors
and accrued char es||2021||2020|
||Grants payable||22,100||22,100|
||Investment
Portfolio Management|Fees|5,511||5,185|
||Audit and accountancy||5,640||5,400|
||||33,251||32,685|
||Trust Ca|ital Account||2021||2020|
|---|---|---|---|---|---|---|
||At beginning
ofthe year|||3,176,791|3,168,436||
||Net movement
in funds for the year:||||||
||Realised|profits/(losses)|(12,859)||(168,778)||
||Unrealised|profits/(losses)|298,934||177,133||
|||||286,075||8,355|
||At end of|the year||3,462,866|3,176,791||
|10.|Contin
ent liabilities|||NONE||NONE|
|11.|Financial|commitments||NONE||NONE|
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|||2021||2020|2019|
|---|---|---|---|---|---|
|Incoming
Resources||54,849||71,798|93,296|
|Total expenditure||(78,990)||(74,658)|(73,686)|
|Net income/
(expenditure)||(24,141)||(2,860)|19,610|
|Profits/ (Losses) arising|on|||||
|Stock Exchange investments:||||||
|Realised
profits/ (losses)||11,282|(165,918)||3,799|
|Unrealised
profits/ (losses)||298,934|177,133|360,241||
|||310,216||11,215|364,040|
|Net movement
In funds||286,075||8,355|383,650|
|Net Funds Em
lo ed||||||
|Investments||3,327,788|3,020,041||2,990,742|
|Current Assets||168,329||189,435|188,131|
|Current
liabilities||(33,251)||(32,685)|(10,437)|
|Net Assets||3,462,866|3,176,791||3,168,436|
|~Ca
ital||||||
|Total funds
brought
forward||3,176,791|3,168,436||2,784,786|
|Net movement
on funds||286,075||8,355|383,650|
|Trust Capital Account||3,462,866|3,176,791||3,168,436|