2022-03-31-accounts - The Peter Stebbings Memorial Charity

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`Trustsummary`
`Trustees’certificateandTrustees’report`
`Independentauditor'sreport`
`Statementoffinancialactivities`
`Balancesheet`
`Notestothefinancialstatements`	`13-21`
`Investmentschedule`	`22` `-26`

`Trustsummary`
`Fortheyearended31March2022`
`Dateofsettlement`	`24May1977`
`Settlors`	`CyrilFrankCosin`
	`PamelaMaryCosin`
`Trustees`	`JamesWilliamStebbings(appointed10November2021)`
	`NicolasRobertClifford(appointed10November2021)`
	`AndrewJohnFrancisStebbings`
	`JenniferAnneClifford`
	`NicholasFrankCosin`
`Mainterms`	`Thisisa charitablesettlementforthebenefitforortosuchcharitable`
	`object,purpose,institutionsorsocietiesastheTrusteesmayintheir`
	`discretionthinkfitwithinthefollowingdefinedbeneficialareas:`
	`(a)medicalresearchandeducation`
	`(b)thewelfareofthepoor,agedandthesick`
`Registeredaddress`	`GoldsboroughHouse`
	`SuttonMontis`
	`Yeovil`
	`Somerset`
	`BA227HE`
`Accountantsandauditors`	`SafferyChampnessLLP`
	`StCatherine'sCourt`
	`BerkeleyPlace`
	`Clifton`
	`Bristol`
	`BS81BQ`
`Investmentmanagers`	`CazenoveCapitalManagement`
	`1LondonWallPlace`
	`London`
	`EC2Y5AU`
`Registeredcharitynumber`	`274862`

		`Unrestricted`	`Endowment`	`Total`	`Total`
		`Funds`	`Funds`	`2022`	`2021`
	`Note`	`£`	`£`	`£`	`£`
`Income:`
`Investmentincome`		`39,828`	`-`	`39,828`	`108,541`
`Totalincomingresources`		`39,828`	`-`	`39,828`	`108,541`
`Expenditure:`
`Raisingfunds`		`-`	`52,520`	`52,520`	`48,333`
`Charitableactivities`		`652,818`	`-`	`652,818`	`583,933`
`Totalexpenditure`		`652,818`	`52,520`	`705,338`	`632,266`
`Netincomingresourcesfortheyear`		`(612,990)`	`(52,520)`	`(665,510)`	`(523,725)`
`Other recognisedgainsandlosses:`
`Gains/lossesoninvestments`		`-`	`560,106`	`560,106`	`1,866,878`
`Grosstransfersbetweenfunds`		`612,990`	`(612,990)`	`-`	`-`
`Netmovementinfunds`		`-`	`(105,404)`	`(105,404)`	`1,343,153`
`Balancesbroughtforwardat31March2021`		`-`	`8,365,403`	`8,365,403`	`~7,022,250`
`Balancescarriedforwardat31March2022`		`-`	`8,259,999`	`8,259,999`	`8,365,403`

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`Investmentincome`	`2022`	`2021`
	`£`	`£`
`Incomefromlistedinvestrnents`	`39,813`	`108,541`
`Interestreceivable`	`15`	`-`
	`39,828`	`108,541`

`3`	`Raisingfunds`	`2022`	`2021`
		`£`	`£`
	`Investmentmanagementfees`	`52,520`	`48,333`
		`52,520`	`48,333`
`4`	`Charitableactivities`	`Total`	`Total`
		`2022`	`2021`
		`£`	`£`
	`ITExpenses`	`3,948`	`69`
	`Bankcharges`	`96`	`-`
	`Sundryexpenses`	`-`	`14`
	`Accountancyfees`	`15,600`	`-`
	`Administrationfees`	`19,944`	`28,325`
	`Auditfee`	`6,736`	`4,920`
		`46,324`	`33,328`
	`Debtorsunderprovision`	`(93)`	`-`
	`Grantspayable(seenote5)`	`606,587`	`550,605`
		`652,818`	`583,933`
`5`	`Grants`	`2022`	`2021`
		`£`	`£`
	`AbilityBow`	`-`	`5,000`
	`AceAfrica`	`10,000`	`-`
	`ActiononPoverty`	`~`	`5,000`
	`AfricaEducationalTrust`	`5,000`	`-`
	`AfricaRevival`	`5,000`	`3,387`
	`AfricanChild-Trust`	`8,000`	`-`
	`AfrikaTikkunUK`	`os`	`5,800`
	`AmigosWorldwide`	`10,000`	`-`
	`ArtboxLondon`	`5,000`	`-`
	`Attend`	`5,000`	`-`
	`BaobabCentreforYoungSurvivorsInExile`	`5,000`	`-`
	`BaytreeCentre`	`10,000`	`-`
	`BowFoodbank`	`5,000`	`-`
	`BrainTumourCharity`	`-`	`7,500`
	`Brainwaves`	`-`	`5,000`
	`BrandonCentre`	`-`	`3,000`
	`BreakingBarriers`	`-`	`5,000`
	`BrentAdolescentCentre`	`-`	`3,000`
	`CardboardCitizens`	`-`	`3,000`
	`CardinalHumeCentre`	`-`	`5,000`
	`Cecily'sFund`	`5,000`	`-`
	`ChaseAfrica`	`-`	`5,000`
	`ChildofHope`	`-`	`4,968`

`CityHarvest`
`ClementJamesCentre`
`Crohn'sandColitisUK`
`CloudsofHope`
`CureParkinsons`
`DECCoronavirusAppeal`
`Deki`
`Depaul`
`DigDeep(Africa)`
`EducAidSierraLeone`
`Ella'sHome`
`EMMAInternational`
`EpilepsySociety`
`ExcellentDevelopment`
`FeedtheMinds`
`FelixProject`
`FitzroviaYouthinAction`
`FiveTalentsUKLtd`
`Foodcycle`
`GlobalOne2015`
`HamlinFistulaUK`
`HandsonLondon`
`HandsUpFoundation`
`HeartforAfrica`
`HelloWorld`
`Home-StartCamdenandIslington`
`Home-StartSouthwark`
`Honeypot`
`HopeHealth`
`Huntington'sDisease`
`interCare`
`InteractStroke`
`internationalHealth`
`InternationalNepalFellowship`
`IslingtonMind`
`ITSchoolsAfrica`
`JolibaTrust`
`Justa Drop`
`Justice`
`KarunaTrust`
`KatherineLowSettlement`
`Key4` `Life`
`KidneyCareUK`

`Grants(continued)`	`2022`		`2021`
`‘` `:`	`£`		`£`
`YoungandInspired`	`5,000`		`-`
`YoungRoots`	`5,000`		`-`
`ZambiaOrphansAidUK`	`-`		`2,000`
	`606,587`		`550,605`
`Investments`	`2022`		`2021`
`Quotedinvestments`	`£`	`;`	`£`
`Marketvalue6 April2021`	`8,337,562`		`7,009,976`
`Additions`	`8,983,111`		`1,919,420`
`Bookcostadjustments`	`-`		`(98,302)`
`Disposals`	`(8,952,111)`		`(3,147,735)`
`Unrealisedprofit/(loss)onrevaluation`	`(1,375,886)`		`1,775,911`
`Realisedprofit`	`1,935,992`		`189;269`
`Netmovementincashheldforinvestment`	`(647,186)`		`689,023`
`Marketvalue5 April2022`	`8,281,482`		`8,337,562`
`Theinvestmentscanbesummarisedasfollows:`
`InvestmentassetsintheUK`	`5,484,702`		`--2,248;154`
`InvestmentassetsoutsidetheUK`	`2,593,926`		`5,239,368`
	`8,078,628`		`7,487,522`
`Cashheldforinvestment`	`202,854`		`850,040`
	`8,281,482`		`8,337,562`	`:`
`At 31Marchthefollowinginvestmentsaccountedformorethan5%oftheoverallportfolio`
`excludingcash:`
	`2022`		`2021`
`TrojanIncomeFund`	`oe`		`8.4%`
`SchroderGlobalSustainableGrowth`	`53.2%`		`5.2%`
`PolarUKValueOpportunitiesFund`	`-`		`7.6%`
`VanguardFTSEUKAllShareIndex`	`-`		`6.1%`
`FindlayParkAmericanFund`	`-`		`10.6%`
`SparinvestEthicalGlobal`	`7.9%`		`-`
`Investments`	`2022`		`2021`
	`£e.`		`£`
`Revaluationofinvestments`	`(1,375,886)`		`1,775,911`
`Gain/(loss)onsaleofinvestments`	`1,935,992`		`90,967`
	`560,106`		`1,866,878`

`Debtors`	`2022`	`2021`
	`£`	`£`
`Amountsfallingduewithinoneyear:`
`Dividendpaidnotreceived`	`-`	`11,500`
	`-`	`11,500`
`Creditors`	`2022`	`2021`
	`£`	`£`
`Amountsfallingduewithinoneyear:`
`Grantspayable`	`15,000`	`-`
`Auditfees`	`6,708`	`-`
`Accountancyfees`	`15,600`	`-`
`Legalfees`	`14,400`	`-`
	`51,708`	`-`

`Thecarryingamountsofthecharity'sfinancialinstrumentsare`	`asfollows:`
	`2022`	`2021`
	`£`	`£`
`FinancialAssets`
`Measuredatfairvaluethroughnetincome:`
`ListedInvestments`	`8,078,628`	`7,487,522`
`Debtinstrumentsmeasuredatamortisedcost:`
`Cash`	`233,079`	`866,381`
`Dividendsreceivable`	`-`	`11,500`
	`8,311,707`	`8,365,403`
`FinancialLiabilities`
`Measuredatamortisedcost:`
`Creditors`	`51,708`	`-`
	`51,708`	`-`

`For`	`theyearended31March2022`
`13`	`MovementinFunds`	`Unrestricted`	`Endowment`	`Total`	`Total`
		`Fund`	`Fund`	`2022`	`2021`
		`2022`	`2022`	`£`	`£`
	`Balanceat1 April2021`	`-`	`8,365,403`	`8,365,403`	`7,022,250`
	`Incomingresources`	`39,828`	`-`	`39,828`	`108,541`
	`Resourcesexpended`	`(652,818)`	`(52,520)`	`(705,338)`	`(632,266)`
	`Otherrecognisedgainsandlosses`	`-`	`560,106`	`560,106`	`1,866,878`
	`Transferbetweenfunds`	`612,990`	`(612,990)`	`-`	`-`
	`Balanceat31March2021`	`-`	`8,259,999`	`8,259,999`	`8,365,403`
`14`	`Analysisofnetassetsbetweenfunds`		`Endowment`	`Unrestricted`	`Total`
			`Fund`	`Fund`	`2022`
			`2022`	`2022`	`£`
	`Fundbalancesat3131March2021arerepresentedby:`
	`Investments`		`8,078,628`	`-`	`8,078,628`
	`Netcurrentassets`		`181,371`	`-`	`181,371`
			`8,259,999`	`-`	`8,259,999`
`15`	`Prioryearstatementoffinanciaiactivities`
			`Unrestricted`	`Endowment`	`Total`
			`funds`	`funds`	`2021`
			`£`	`£`	`£`
	`Incomefrom:`
	`Investments`		`108,541`	`-`	`108,541`
	`Expenditureon:`
	`Raisingfunds`		`-`	`(48,333)`	`(48,333)`
	`Charitableactivities`		`(583,933)`	`-`	`(583,933)`
	`Totalresourcesexpended`		`(583,933)`	`(48,333)`	`(632,266)`
	`Net(losses)/gainsoninvestments`		`-`	`1,866,878`	`1,866,878`
	`Net(outgoing)/incomingresourcesbefore`	`transfer`	`(475,392)`	`1,818,545`	`1,343,153`
	`Grosstransferbetweenfunds`		`475,392`	`(475,392)`	`-`
	`Netmovementinfunds`		`-`	`1,343,153`	`1,343,153`
	`Fundbalancesat1 Apri]2020`		`-`	`7,022,250`	`7,022,250`
	`Fundbalancesat31March2021`		`-`	`8,365,403`	`8,365,403`

		`NetIncome`	`NetIncome`		`£`															`144.67`				`1,068.03`	`1,068.03`	`610.30`	`1,068.03`					`197,17`	`197,17`
		`MarketValue`		`31/03/2022` `£`																							`85,137`			`208,143`				`195,176`
			`BookValue`	`31/03/2022` `£`																							`74,239.65`			`215,281.54`				`191,875.01`
			`Holding`	`31/03/2022`																							`61,030`			`25,528`				`116,942.12`
			`Profit`		`(Loss)` `&`			`8,668.02`			`119,911.70`		`160,920.00`		`41,926.00`		`109,484.78`			`118.32` `23.06` `(66.12)` `(339.22)`		`706,328.23`										`860.81`
			`Disposals`		`Quantity` `Proceeds` `£`			`1,050` `128,727.02`			`6,711.76000` `265,785.70`		`135,000.00000` `361,665.00`		`120,000.00000` `359,220.00`		`400,587.70300` `743,490.78`			`44,774` `8,726` `1,701` `8,726` `52,197.56` `10,172.78` `1,912.41` `9,810.50`		`7,419,06200` `929,905.23`											`4,478.00` `8,208.17`
			`Additions`		`Quantity` `Cost` `£`				`1,050` `120,059.00`			`6,711.76000` `145,874.00`		`135,000.00000` `200,745.00`		`120,000.00000` `317,294.00`		`400,587.70300` `634,006.00`		`59,830` `69,498.36`	`4,097` `4,858.85`		`7,419.06200` `223,577.00`		`57,119` `69,495.29`	`3,911` `4,744.36`					`25,528` `215,281.54`		`113,639.12` `186,368.16`		`7,781.00` `12,854.21`
			`BookValue`		`01/04/2021` `£`
`nvestmentschedule`	`"earended31stMarch2022`		`Holding`		`01/04/2021`	`\tlasGlobalInfrastructureUCITS`	`FundB GBPUnhedgedShareClass`			`Mackrock(Luxembourg)S.A.`		`AsianDragonD4rfInc`	`NackrockFundManagersLtd`	`EuropeanDynamicFdInc`	`‘apitaFinancialManagers`	`TrojanS IncNav`	`‘apitaFinancialManagers`	`TrojanIncomeS Inc`	`‘ivitasSocialHousingPlc` `OrdinaryGBPO.01`			`indlayParkFundsPle`	`AmericanSterlingGBPUhdg`	`ireshamHouseEnergyStorageFdPle`	`OrdinaryGBP0.01`			`ISBC`	`GIFGlbEqSustainableHealthcare`			`npaxEnvironmentalMarkets(Ireland)`	`FundX GBPInc`

			`NetIncome`	`£`	`£`		`1,519.52`				`361.88`	`361.88`																	`1,530.00`	`1,530.00`										`407,54`	`407,54`	`407,54`
			`MarketValue` `31/03/2022` `£`					`69,544`							`15,282`					`353,510`									`163,829`						`296,386`
			`BookValue`	`31/03/2022`	`£`			`68,569.07`							`7,749.00`					`333,166.50`									`175,697.59`							`286,676.20`
		`Holding`		`31/03/2022`				`40,199`							`60`					`290,000.00000`										`17,000.00000`						`193,779.91900`
			`Profit`	`(Loss)`	`£`						`87,520.86`							`8,252.58`					`1,227.56` `(2,482.74)`									`(8,843.00)`		`1,647.12`			`2,589.71`			`61,773.49`
			`Disposals`	`Quantity` `Proceeds`	`£`						`73,852.29600` `272,071.86`							`49,011.97000` `76,066.58`					`5,344.00000` `7,440.99`		`139,576,38500` `159,801.79`							`2,250` `227,970.00`		`9,548.00000` `15,772.34`			`55,562.00000` `84,787.61`				`1,991.10560` `247,181.03`
			`Additions`	`Quantity` `Cost`	`£`		`37,623` `64,217.93`		`2,576` `4,351.14`			`73,852.29600` `184,551.00`			`60` `7,749.00`			`49,011.97000` `67,814.00`	`145,000.00000` `145,000.00000` `165,778.50` `167,388.00`					`135,633.38500` `157,565.30`		`9,287.00000` `10,932.66`				`17,000.00000` `175,697.59`		`2,250` `236,813.00`			`242,298.91900` `358,117.80`		`16,591.00000` `24,881.52`					`1,991.10560` `185,000.00`	`407.54`
			`BookValue`	`01/04/2021`	`£`
`Investmentschedule`	`Yearended31stMarch2022`		`Holding`	`01/04/2021`		`InternationalPublicPartnership`	`OrdinaryGBP0.0001`			`JpmorganAssetManagementUKLtd`		`JpmJapanC Inc`	`LansdowneDevelopedMarkets`	`StrategicInvestmentFundLtdShs`		`LinkFundSolutionsLtd`	`LfMajedieUKEquityFundclassX Inc`		`LinkFundSolutionsLtd`	`TrojanEthicalGBPX Dis`	`LinkFundSolutionsLtd`	`MontanaroBetterWorld` `BGBPDis`					`LombardOdierFunds(Europe)Sa`	`GlobalClimateBdN GBPSysHgdDis`			`LumynaSandbarGlobalEqtyMarketUSDace`		`Mé&gSecuritiesLimited`		`PositiveImpactL Dis`			`MdoManagementCompanyS.A.`	`RweGlobalEmergingMarkets` `SGBPDist`

		`NetIncome`	`NetIncome`		`£`			`804.96`	`152.74`	`1,439.60`			`59.40`						`677.93`		`977.21`	`977,21`	`748.05`		`292.21`	`483.22`
		`MarketValue`		`31/03/2022`	`£`					`281,442`						`315,829`							`67,025`				`293,883`									`181,299`
			`BookValue`	`31/03/2022`	`£`					`251,827.70`						`314,159.66`							`64,264.93`				`304,370.64`									`178,630.85`
			`Holding`	`31/03/2022`						`2,440.00000`						`199,601.00000`							`59,844`				`1,152.93653`									`671,423`
			`Profit`	`(Loss)`	`£`								`(611.09)`						`(9,722.47)`		`73.91`				`438.92`	`(2,101.17)`				`105,551.20`		`47,682.20`			`2,461.41`	`(3,405.54)`
			`Disposals`	`Quantity` `Proceeds`	`£`								`42,324.00000` `66,004.28`						`1,360.24300` `168,656.53`		`18,333` `19,761.25`				`§7.00000` `15,468.09`	`328.00000` `84,489.52`				`51,360.00000` `666,139.20`		`2,300` `303,281.20`			`57.000` `17,626.15`	`818.000` `214,221.84`
			`Additions`	`Quantity.` `Cost`	`£`			`2,440.00000` `250,870.00`	`804,96`	`152.74`			`100,000.00000` `164,910.00`	`(1,029.40)`	`7,573.00000` `12,155.42`	`134,352.00000` `204,739.01`			`1,360.24300` `178,379.00`		`58,153` `63,128.56`	`3,982` `4,220.24`	`16,042` `16,603.47`		`1,438.93653` `379,634.62`	`99.00000` `25,872.66`	`483.22`			`51,360.00000` `$60,588.00`		`2,300` `255,599.00`			`1,447,423` `384,904.05`	`99.000` `26,518.92`
			`BookValue`	`01/04/2021`	`£`
`nvestmentschedule`	`"earended31stMarch2022`		`Holding`	`01/04/2021`		`{ultiUnitsLuxembourg`	`Lyxor USTipsDrUcits` `DGBPMnthlyHdg`				`linetyOneFundManagersUKLtd`	`GlobalEnvironmentK GBPDis`					`lorthernTrustLuxMgmtCoSa`	`EmergingMktsActiveEquityZ GBPDis`		`ictopusRenewablesInfraTrPlc`	`OrdinaryGBP0.01`			`ictetNutrition`	`JdyGBP`			`olarCapitalFunds`	`UKValueOpportunities` `§GBPDis`		`obecoBPGlobalPremiumEquitiesIBGBP`		`‘obecoSAM`	`SustainableWaterEquities` `GGBP`

		`NetIncome`		`£`					`272.98`					`15,146.54`	`6,209.13`					`472.80`							`459.00`	`493.00`
		`MarketValue`	`31/03/2022`	`£`														`4,297,273`						`641,694`				`166,405`			`304,404`
		`BookValue`	`31/03/2022`	`£`														`4,068,642.37`						`625,326.40`				`177,911.80`			`323,241.02`
		`Profit` `Holding`	`(Loss)` `31/03/2022`	`£`		`64,038.77`			`5,243.00`		`16,028.69`			`23,548.22`	`17,335.98`	`23,108.54`		`7,657,293.62000`		`168,930.84`			`338.77`	`3,011`				`17,000`			`1,991`			`102,883.00`
		`Disposals`	`Quantity` `Proceeds`	`£`		`499.21000` `239,038.77`			`2,450.00000` `265,629.00`		`3,381.32000` `338,227.69`			`927,135.00000` `515,023.49`	`277,825.00000` `164,611.31`	`464,037.00000` `269,095.06`				`24,000` `292,172.84`			`75` `15,713.03`											`4,800.00000` `539,184.00`
		`Additions`	`Quantity` `Cost`	`£`		`499.21000` `175,000.00`			`2,450.00000` `260,386.00`		`3,381.32000` `322,199.00`			`850,000.00000` `429,420.00`	`7,572,965.62000` `4,034,118.79`	`576,760.00000` `309,835.47`	`(2,609.92)`	`326,565.00000` `182,615.15`		`24,000` `123,242.00`			`2,387` `489,311.58`	`699` `151,389.08`			`17,000` `177,911.80`				`1,991` `323,241.02`			`4,800.00000` `436,301.00`
		`BookValue`	`01/04/2021`	`£`
`Investmentschedule`	`Yearended31stMarch2022`	`Holding`	`01/04/2021`		`SchroderInvMgmtLuxSa`	`AsianTotalReturnC IncNav`	`SchroderInvMgmtLuxSa`	`DiversifiedAlternativeAssetsS GbpDis`		`SchroderUnitTrusts`	`StrategicCredit` `CAcc`	`SchroderUnitTrusts`	`GlobalSustainableGrowthS GBPInc`						`ScottishMortgageInvTrust`	`OrdinaryGBP0.05`	`Sparinvest`	`SICAVEthicalGlobalValueEURID`			`Threadneedle(Lux)`	`EuropeanSocialBondClassZGCInc`			`UBPUBAM`	`PositiveImpactEmergingEquityClassYD`		`VanguardInvestmentsUKLtd`	`FtseUkAllShrIdxUtTstInstl PlsInc`

			`NetIncome` `£`			`1,036.40`													`39,813.24`
			`MarketValue` `31/03/2022` `£`														`142,367`		`8,078,628`
			`BookValue` `31/03/2022` `£`														`139,042.61`		`7,800,672.54`
		`Holding` `31/03/2022`															`13,546`
			`Profit` `(Loss)` `£`			`(637.71)` `(29,878.36)`				`$5,132.93`		`50,031.00`							`1,935,992.20`
			`Disposals` `Quantity` `Proceeds` `£`			`157.00000` `13,438.50`	`3,943.37040` `323,673.86`			`24,772.1670` `237,418.93`		`1,350` `221,049.00`							`8,952,110.89`
			`Additions` `Quantity` `Cost` `£`			`3,844.37040` `344,391.73`		`256.00000` `23,236.70`		`24,772.1670` `182,286.00`			`1,350` `171,018.00`			`12,678` `130,484.81`		`868` `8,557.80`	`14,816,791.23`
			`BookValue` `01/04/2021` `£`
`nvestmentschedule`	`fearended31stMarch2022`		`Holding` `01/04/2021`	`YontobelManagement$.A.`	`MtxSustnbleEmgMktsLeaders` `AUSD`				`NellingtonGlobalHealthcare` `Equity` `NAccGBP`		`NilliamBlairU.S.SmallMidCapGrowth`		`JWI GBP-Distribution`	`NVisdomTree`	`PhysicalGold- GBPDailyHedged`				`TOTAL:`