## ## ## ## ||||||SORP rafaranca|| |---|---|---|---|---|---|---| |Summary||ofthe purposes of|||Para 1.17|The James Capel Foundation
was| |the charity||as set out||in its||established
for the purposes ofmaking| |governing||document||||paymenhs:| |||||||A. Tosuch legally charitable| |||||||institutions,
bodies or funds, or| |||||||for such legally charitable| |||||||purposes
exclusively as the| |||||||Trustees shall from time to time| |||||||ln their absoiute discretion| |||||||determine;
and| |||||||8.Toorfor the benefit ofpersons for| |||||||the relief ofpoverty:
1. Who are for the time being or| |||||||have been employed
by James
Caps!4 Co, or its successor| |||||||companies
in business, or any| |||||||corn pany associated therewith
or| |||||||who are the wives, widows,| |||||||husbands,
widowers,
children,| |||||||parents or other dependants
of| |||||||any such persons; and| |||||||2. Are in the oplnlon ofthe Trustees| |||||||necessitous
and deserving.| |Summary
ofthe main
activities
in relation tothose|||||Para 1.17and
ara|The principal
activity of the Charity is to
actas abenevolent
association toformer| |purposes||for the public||||employees
of James Capel 4 Co and its| |benefit,|in|particular,||the||associated
companies
and
their| |activities,||pfoiects|of|||dependents,
who need assistance
with| |services|identified||in|the||the ordinary necessities ofNe orwho are| |accounts.||||||otherwise
in financial need. The Trustees| |||||||become
aware
of such
circumstances| |||||||mainly
through
a
network
of former| |||||||James Capel employees.| |Statement||conf~rming|||Para 1.18|The
Trustees
confirm
that
they
have| |whether|the trustees|||have||referred to and corn
I
with the
uidance| |had regard|had regard|to the guidance|to the guidance|to the guidance||contained|in the|Charity|Charity|Charity|Comm)ssion's|Comm)ssion's|Comm)ssion's| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |issued by|the Charity|||||general guidance||on public benefit|||||when| |Commission
on public||||||reviewing|the|Charity's|||aims||and| |benefit||||||obiectlves|and||in|planning|||future| |||||||activities|and setting|||the|grant|making|| |||||||policy for|the year.||||||| |1|||||||||||||| |Additional||information||(optionati|||||||||| |You ma
choose to|||include||fudher statements|where reievant about:|||||||| |||||||lt is the policy ofofthe Trustees||||||to|seek| ||||||Para 1.38|appeals for granbi|||which they consider||||| |Policy on|grant making|||||qualify for|payment||and to||distribute||| |||||||income within twelve months of||||||it|| |||||||arisln .|||||||| ||||||Para 1.38||||||||| |Policy on|social investment||||||||||||| |including|program||related||||||||||| |investment|||||||||||||| ||||||Para 1.38||||||||| |Contribution||made|by||||||||||| |volunteers|||||||||||||| |Other|||||||||||||| ## |chievements|and Per|formence|||||| |---|---|---|---|---|---|---|---| |||SORP rsfsrsncs|||||| ||||During
2022
the
charity||distributed||| ||||grants
totalling
f75,7&3|||to|'l65| ||||individuals
on welfare issues||including||| |Summary
ofthe main
achievements
ofthe charity,||Pars 120|the
cost
of
personal
replacement,
household|alarms,
repairs, a|||boiler
grant| |identifying
the difference the|||towards
living
expenses|||and
a|| |charity'8 work has made to|||contribution
towards|heating|||costs| |the circumstances|of its||during winter months.||||| |beneficiaries
and|any wider||||||| |benefits to society as a|||No
grants
were
made|to|registered||| |whole.|||char(bee during 2022.||||| |Achievements
against| |---| |objectives set| |Performance
offundraising| |activities against objectives| |set| |Investment
performance| |against objectives| |Other| ## |inanc|ial
Review|ial
Review|ial
Review|ial
Review|ial
Review|||| |---|---|---|---|---|---|---|---|---| |Review|ofthe charity's||||||Pars 1.21|In the year ended 3f December 2022| |financial
position at
ofthe period|||||the end|||expenses and grants exceeded Income
byf54,857.This ecess ofexpenditure| |||||||||over Income was expected and in
compliance
with ths reserves policy in| |||||||||the medium
term.| |Statement||explaining|||the|||lt is the policy of the Trustees to invest| |policy for holding reserves||||||||the brought forward reserves togenerate| |stating|why|they are|||held|||a level of income each year consistent| |||||||||with the expected level ofexpenditure.| |||||||||The Trustees consider that cash held on| |||||||||deposit
is
a
class
of
investment,| |||||||||particularly
in
times
of stock
market| |||||||||volatility.| |||||||||It is currently
the view of ths Trustees| |||||||||that
the
overall
level
of
investment| |||||||||required
lies between Dm and 52m. The| |||||||||level of reserves
at 3f December
2022| |||||||||was 82,283k which
remains
above this| |||||||||range.| |Amount|of|reserves|||heki||Pars 1.22|52 253K| |Reasons for holding|||||zero||Para 1.22|| |reserves||||||||| |Details|of fund materially|||||in|Pars 1.24|| |deficit||||||||| |Explanation|||ofany||||Pars 1.23|| |uncertainties|||about||the|||| |charity|continuing|||as a going||||| |concern||||||||| ## |The charity's
principal
sources offunds (including|Para 1.47|The only source offunds isthe
investment
portfolio.|The only source offunds isthe
investment
portfolio.| |---|---|---|---| |any fundraising)|||| |lnvestmenl
policy and|||| |objectives including
any|Pars 1,46||| |social investment
policy|||| |adopted|||| |A description
ofthe principal|Pars 1.4ri||| |risks facing the charity|||| ## ## |Description ofcharity's|||||||| |---|---|---|---|---|---|---|---| |trusts:|||||||| |Type ofgoverning
document|Pars|1.25|Trust Deed dated 15|||July 19?5|| |How is the charity
constituted?|Pars|1.25|Unincorporated||Chary||| |assi r'2|||||||| |Trustee selection methods|Para|'I 25|||||| |including
details ofany|||The statutory||power|ofappointing|new| |constitutional
provisions e.g.|||or additional|trustees||is vested in|HSBC| |election to post or name of|||Bank pic as|the successor company of|||| |any person or body entitled|||James Capel|aCo, the founding|||| |to appoint one or more|||company.||||| |trustees|||||||| ## |Policies|and||procedures||||| |---|---|---|---|---|---|---|---| |adopted|for the induction|||Pars 1.51|||| |and training||oftrustees|||||| |The charity's|||organisational||||| |structure|and||any wider|Para 1,51|||| |network|with||which the||||| |charity works|||||||| ||||||The Trustees consider the ultimate||| ||||||controlling|patty|ofthe Charity to be| |Relationship|||with any|Para 1,51|HSBC Holdings||pic.| |related|parties||||||| |Other|||||||| ## |Charit
name||The James Ca|IFoundation| |---|---|---|---| |Other name the char'
uses||none|| |Re istered charit|number|2?0031|| |Charity's
principal|address|tf Canada Square, London, E14SHQ|| |mes|ofthe charity tru|stees who manage|the charity|||| |---|---|---|---|---|---|---| ||Trustee name|Office (ifany)|Dates acted ifnot for whole
ear|Name ofperson (or body) entttted
toa
nt trustee
ifan||| ||Peter Richard|chairman||HSBC Bank pic||| ||Marsh|||||| |2|lan Collier|||||| ||Robert Paul|||||| ||Jarvis|||||| |4|John ttitarttn
Latham|||||| ||Brian John|||||| ||Nlarshall|||||| |6|Valerle Lammin|||||| ||Iitichael Wtlfred|||||| ||Penney|||||| ||John Summers|||||| |9||||||| |10||||||| |11||||||| |12||||||| |13||||||| |14||||||| |15||||||| |16||||||| |'l7||||||| |18||||||| |18||||||| |20||||||| |Trustee|name|Dates|acted|ffnot|forwhats|ear| |---|---|---|---|---|---|---| |none||||||| |Description ofthe assets|| |---|---| |held in this capacity|| |Name and objects ofthe|| |charity on whose behalf|the| |assets are held and how|this| |falls within the custodian|| |charity's objects|| |Details of arrangements|for| |safe custody and|| |segregation
of such assets|| |from the charity's
own|| |assets|| ## ## |Names an|d addresses
ofadvisers|{Optional information)||| |---|---|---|---|---| |Type of|Name|Address||| |adviser||||| |tnvsetment|HSBC Global Asset|1 Canada Square, London,|E14SHQ|| |manager|taanagement|||| |Name of|chief executive or names|ofsenlor staff members|(Optional|information)| ## ## # ## |Contents||||Patte(s)| |---|---|---|---|---| |Trustees and professional
advisers||||| |Trllstees
teport||||| |Statement ofTrustees'|Responsibilities|in respect ofTrustees' report and the financia|statements|| |independent
Auditors'|report to the Trustees ofThe lames Capel Foundation|||| |Statement offinancial|activities|||| |Balance sheet||||10| |Notes||||11-14| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Noses||2022||2021| |---|---|---|---|---|---|---|---|---| |||||||8||f| ||||||Unrestricted|Funds|Unrestricted|Funds| |Income||||||||| |investruent
income||||||||| |Income from investments||- equities||||244176||40,129| |||-dxed interest securities||||10,793||10,967| |Interest mcome||||||||| |Total income||||||35si55||51,100| |Expenditure||||||||| |Cost ofraising funds||||||||| |Investment
nuuugemcnt||costs||||(8,136)||(11,919)| |Charitable
actlvittes||||||||| |Grants payable in 6utherance ofthe Charity's|||objecuves|||(75,753)||(55,602)| |Donstwns
to registered||charities||||||| |Administrative
expenses||||||(M23)||{5,879)| |Tetal expenditure||||||(90412)||(73,400}| |Net ilosspgain
on investments||||||(235415)||246,090| |Net (expense)/Income|and aet mevenuutts||la fund»|||(289,872)||223,790| |ReceucSanoa efftmds||||||||| |Toad funds brought
Reward|||||2453318||2,329,528|| |Total funds carrieil forsvsrd|||||2&3s(46||2,553,318|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Administrative
exp|enses
represent
governance
costs and co|mprise:|| |---|---|---|---| |||2022|2021| |Honorarium
iNote 7}|||5,500| |Reimbursed
expenses|||379| |Bank char ger||13B|| |Total admhtkstrative|expenses||5,879| ## ## ## ## ||||||||||2021|| |---|---|---|---|---|---|---|---|---|---|---| |||||||||Market|Cost|Market| |||||||||valuef||Value
f,| |Ftxed interest|||||||859,911|779,699|557y20|352,070| |Equities|||||||763«09|759,7&7|847,549|| |Alternative|||||||6&6,611|671419|987,063|1,053,856| |Total Iavestmcnts|||||||2310dt31|2,211,005|2391,832|2,515,695| |Investments
are|held primarily||to provide an investment|||return for the Charity.||||| |The invesunents|can be|further|analysed into:|||||||| ||||||||2011||2021|| ||||||||Cost|Market|Cost|Market| |||||||||value||value| |||||||||||f.| |investmcnt
assets|in dte UK||||||53,820|||| |Investment
sauna|outside dm IJK||||||2~,2II|2,156,922|2,391,832|2,515,695| |Total Invesnneats|||||||2310,031|2411,005|2,391,832|2,515,695| |Investments
representing||more than||5'ys ofthe|portfolio are detailed below:|||||| |Descrlpdoa ofhemlugs -||2022|||||Holding/|||Market| ||||||||Ilatts|||valsef| |HSBC Global Funds ICAV Global Govt||||Bond index Fund ZQHGBP|||24,412|252,269||223,617| |HSBCAmerican|Index Inst Iuc||||||49,388|434,950||429,725| |BSBCGlobal Investment||Funds Cdobal||Corporate Bond ZQHGBP|||17,005|173,234||153,234| |BSBCGlobal Funds ICAV Multi-Factor||||Woddaqdc|Equity ZQ||27,916|278,490||279,418| |Descnption ofholdings - 2021|||||||Holdingt|Cost||Market| ||||||||IJuits|||value| |||||||||||f| |HSBC Global Funds ICAV Global Govt||||Bond Index Fund ZQHGBP|||24,181|258,321||257281| |HSBCAtnerican|Index Inst Inc||||||45.678|403,165||441,207| |HSBC Global Invmtment||Funds Global||Real Estate Equity ZQ I|||!4,746|112,972||139,741| |HSBC Global Funds ICAV Multi-Factor||||Worldwide|Equity ZQ||28,782|287.110||317,749| ## ## |The movement
during|the|year|year|in the|portfolio ofinvesnnenm|was;||| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| ||||||||8|J.| |Canymg value (market value) at|||I January||||2415,695|2,178,975| |Add:||||||||| |Investtnents
acquired|during||the year (st cost)||||ld 34,130|2,678$50| |Less:||||||||| |Investmenn
disposed|ofdunng|||the year (pmceeds)|||(1403,605)|(2,587,920)| |Net (loss)/gain
on investmeats|||||||(235315)|246,090| |Carrytag valse (market|value)||st|31 December|||2411&005|2,515,695| |9
Creditors: amounts||falBng due wltldn one year||||||| ||||||||2022|2021| |I Wassail Honorarium|||||||2,750|2,750| |JWassail~||||||||141| |Total Credttors(Accrasts)|||||||3,113|2,891| |10
Vtnestrlcted
funds||||||||| ||||||||2022|2021| |Balance at I January|||||||2,553318|2.329,528| |Net (expense)/income
and aet movement|||||in funds||(2S9,872)|223,790| |Balance at31December|||||||2v763,446|2,553,318|