2021-12-31-accounts

The James Capel Foundation Yrustees, report and financial statements Registered charity number 270031 31 December 2021

Trustees and professional advisers	Trustees and professional advisers
Trustees' report
Statement ofTrustees'	Responsibilities	in respect ofTrustees' report and the financial	statements
Independent Auditors'	report to the Trustees ofThe James Capel Foundation
Statement offinancial	activities
Balance sheet
Notes				11-14

			P R Marsh (Chairman)	P R Marsh (Chairman)	P R Marsh (Chairman)
			ICollier
			V Lammm
			J M Lathatn
			BJ Marshall
			M %Penney
			R P Jarvis (appointed		20	October 2021)
			J Summers (appointed		20 October 2021)
			J Wassell
Foundation		date	1SJuly 1975
Registered		charity number	270031
Principal	address		g Canada Square
			London
			EI4 SHQ
			United Kingdom
Independent		auditors	PricevvaterhouseCoopers			LLP
			Chartered Accountants		and Statutory		Auditors
			One Chamberlain	Square
			Birmingham
			833AX
			United Kingdom
			HSBC UK Bank	pic
			1 Centenary Square
			Birmingham
			Bl 1HQ
			United Kingdom
			HSBC Globa! Asset Management
			(trading name of	HSBC Private Bank			(UK) Linuted)
			8 Canada Square
			London
			EI4SHQ
			United Kingdom

							The James Capel	The James Capel	Foundation	Foundation
						Trustees'	report and	financial	statements
								31 December 2021
					Notes		2021			2020
						Unrestricted	Funds	Unrestricted		Funds
Investment income
Income &om investments		- equities					40,129			39,921
		—fixed interest securities					10,967			18,334
Interest income
Total income										58,321
Expettditttre
Cost of raising funds
Investment management		costs								(9„187)
Charitable activdties
Grants payable in furtherance			ofthe Charity's	objectives			(55,602)			(69,921)
Donations to registered		charities								{2,000)
Administrative expenses							(5,879)			(5,904)
Total expenditure							(73,400)			(87,012)
!4etgain'(loss) on investments										(66,222)
Ivtet incomet{expense)	and net movements			in funds						(94,913)
Reconciliiatiion offunds
Total funds brought forward
Total funds carried forward									2,329,528

						The iamcs Capel Foundation	The iamcs Capel Foundation
					Trustees'	report and financial	statements
						31 Dccctnbcr 2021
						2020
lnvesttnents
Cash at	bank:
Current	accourtt
('ash held by utvesnnent			manager
Current	habBtttcs
Creditors: amounts		falling	due within	one year
							150,553
							2,329,528

dministrative	expens	es represent governance costs and co	mprise:
			2021	2020
Honorarium	(Note 7)			5,500
Reimbursed	expenses
Total admimstrative		expenses

								2021		2020
									Market	Cost	Market
									value		Value
									g
Fixed interest								557,220	552,0'70	514,S09	527,644
Equities								847,549	909,769	1002,678	1.075,190
Alternative								987,063		548,339	576,141
Total Investments									2,515,695	2.,065,526	2.178,975
Investments are	held	primarily		to provide		an investment	return	for the Charity.
The investments	can	be further		analysed		into:
								2021		2020
								Cost		Cost	Market
											value
Investment assets	in the	UK								744,345	802,S92
Investtnent assets	outside the		UK							1,321.181	1.376,383
Total Investments								2.391,832	2,515,695	2,065.526	2,178,975
Investments representing			more	than	5%ofthe portfolio		are detailed below:
Description ofholdings		- 2021						Holding/
								Units
HSBC Global Funds ICAV			Global	Govt	Bond Index Fund ZQHGBP			24,181	258,321		257,281
HSBC American	Index	Inst Inc						45,678	403,165		441,207
HSBC Global Investment Funds Global					Real	Estate Equity ZQ I		14,746	112,972		139,741
HSBC Global Funds ICAV Multi-Factor					Worldwide Equity ZQHSBC			28,782	287,110		317,749
Description ofholdings		- 2020						HoldingI	Cost		Market
								Units			value
HSBC GIFGlobal Emerging			Market Local Debt ZQI USD					27,850	185,537		190,698
HSBC FTSEAll	Share	Index Inst		Inc				111,296	321,292		351,807
HSBC American	Index	Inst Inc						29,484	215.608		219,835
HSBC US Multi-Factor		Equity Fund Inst			Inc			27,921	114,534		117,829

The movement durin	g	the ye	ar in the portfolio ofinvestments vvas:
					2020
Carrying value (market	value) at		1 January		2,367,427
Add:
Investments acquired		during	the year (at cost)		1,433,205
Less:
Invcstmcnts disposed		ofduring the year (proceeds)		(2,587,920)	(1,555,435)
Yet gain/(loss) on	investments			246,090	(66,222)
Carrying value (market		value)	at 31 December		2.178,975
					2020
JWassc)1 Honorarium					2,750
Grant pending payment					2,000
JWassell expenses					85
Due to Hank					197
Total Creditors (Accruals)
					2020
8alance at I January
Net income/(expense)	and	net movement in funds			(94,913)