2021-12-31-accounts - W B Harris Will Trust

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		CONTENTS	CONTENTS
Pa	eNumber
	1-6	Trustees'	Re ort
	7-9	Auditors Re ort
	10	Statement	ofFinancial Activities
		Balance Sheet
	12-13	Debtors, Interest	Cash Balances,	Creditors	A	Deposit
	14	Schedule	ofInvestments
	15-16	Investment	Income
	17	Investment	Transactions
	18-20	Accountin	Policies
	21-22	Other Notes to the Accounts

Legal dk Administrative	Legal dk Administrative	Information	Information
Registered	Charity Number:		277719
Registered	Office	:c/o Ashfords LLP,			1 New Fetter Lane
			London EC4A 1AN
Trustee		:	Tongswood Estates		Limited
Directors	ofTongswood
Estates Limited		:	Rory MacLeay
		:Dan Bayley
		:	Guy Selmon
		:	Piers Inkin
Stockbrokers		:	Investec Wealth
			2 Gresham Street
			London EC2V 7QN
Solicitors		:Ashfords LLP 1 New Fetter Lane
			London EC4A 1AN
Bankers		:NatWest PLC
			2" Floor County	Gate 2 Staceys Street Maidstone			ME14 1ST
			Kent TNI IQJ
Auditors		:	McCabe Ford Williams
			Bank Chambers,	High Street, Cranbrook
			Kent TN17 3EG
For and on	behalf ofthe	Trustees
			Dated.			2022

			W BHARRIS WILL TRUST	W BHARRIS WILL TRUST	W BHARRIS WILL TRUST
Statement ofFinancial Activities		for	the year cndcd 31stDecember 2021
						As restated	As restated	As restated
			2021	2021	2021	2020	2020	2020
			Unrestricted	Endowment	Total	Unrestricted	Endosvment	Total
			Funds	Funds	Funds	Funds	Funds	Funds
Incoming Resources
Incoming resources from	generated		funds
Voluntatv Income
Donations from St Ronans	Appeal	Fund
Investl)nut/ Ittcoltle
Dividends & Interest (page 16) Rent paid by St Ronans School			9,084.72	80,633.33	9,084.72 80,633.33	9,200.62	172,299.99	9,200.62 172,299.99
Other income —interest on Deposit Interest (page 12)	late rent			3,154.14	3,154.14		3,262.21	3,262.21
Resources Expended			9,084.72	83,787.47	92,872.19	9,200.62	175,562.20	184,762.82
Costs o ~eneratin ands:
Investment management costs
Investec Stockbrokers fees				3,521.64	3,521.64		3,113.01	3,113.01
Cltari table activities				3,521.64	3,521.64		3,113.01	3,113.01
Distributions -St Ronan's School
Governonce costs
Audit &.accountancy fees			2,377.50	2,377.50	4,755.00	2,250.00	2,250.00	4,500.00
Companies House Charges			13.00		13.00
Trustees indemnity insurance			608.97		608.92
Legal &administrative fees			5,786.54	17,359.61	23,146.15	4,836.50	14,509.50	19,346.00
			8,785.96	19,737.11	28,523.07	7,086.50	16,759.50	23,846.00
Otlter resom ces ex ended
Interest payable				19,919.96	19,919.96		20,615.05	20,615.05
Bank charges				80.16	80.16		50.45	50.45
				20,000.12	20,000.12		20,665.50	20,665.50
Total resources expended			8,785.96	43,258.87	52,044.83	7,086.50	40,538.01	47,624.51
Net gains/(losses) on investments
Losses /Gains on investments:
Realised (page 17) Unrealised (page 14) Net gains/(losses) on investmcnts				26,639.73 10,094.73 36,734.46	26,639.73 10,094.73 36,734.46		(3,693.54) (7,840.39) (11,533.93)	(3,693.54) (7,840.39) (11,533.93)
Net Income/(Expenditure)			298.76	77,263.06	77,561.82	2,114.12	123,490.26	125,604.38
iVct movement in funds			298.76	77,263.06	77,561.82	2,114.12	123,490.26	125,604.38
Reconciliation ofFunds
Total Funds brought forward			18,589.91	7,783,408.05	7,801,997.96	16,475.79	7,659,917.79	7,676,393.58
Total funds carried forward			18,888.67	7,860,671.11	7,879,559.78	18,589.91	7,783,408.05	7,801,997.96

Balance Sheet as at 3	1stDecem	ber 2021
					As restated	As restated	As restated
		2021	2021	2021	2Q'7Q	2020	2020
		Unrestricted	Endowment	Total	Unrestricted	Endowment	Total
		Fund	Fund	Funds	Funds	Funds	Funds
FIXEDASSETS
Tan ible Fixed Assets	—Freeliold	Pro em
Tongswood Estate (note 5)			7,750,000.00	7,750,000.00		7,750,000.00	7,750,000.00
Assets in the Course of
Construction (note 5)
Total Tangible Fixed Assets			7,750,000.00	7,750,000.00		7,750,000.00	7,750,000.00
Investments at
Market Value (page 14)			338,404.00	338,404,00		307,306.00	307,306.00
			8,088,404.00	8,088,404.00		8,057,306.00	8,057,306.00
CURRENT ASSETS
Debtors
Debtors (page 12)		20,066.43	54,225.00	74,291.43	26,052.97	102,816.66	128,869.63
Cash at Bank
and in hand (page 12)		5.957.08	6,791.87	12,748.95	1,484.74	4,559.60	6,044.34
		26,023.51	61,016.87	87,040.38	27,537.71	107,376.26	134,913.97
CREDITORS
Amounts falling due
within one year (page	12)	7,134.84	160,665.60	167.800.44	8,947.80	184,524.44	193,472.24
NET CURREiVT ASSETS		18,888.67	(99,648.73)	(80,760.06)	18,589.91	(77,148.18)	(58,558.27)
TOTAL ASSETS less
CURRENT LIABILITIES		18,888.67	7,988,755.27	8,007,643.94	18,589.91	7,980,157.82	7,998,747.73
CREDITORS
Amounts falling due in
more than one year (page 12)			(128,084.16)	(128,084.16)		(196,749.77)	(196,749.77)
iVETASSETS		18,888.67	7,860,671.11	7,879,559.78	18,589.91	7,783,408.05	7,801,997.96
FUNDS
Unrestricted		18,88S.67		1S,888.67	18,589.91		18,589.91
Endowment (page 10)			7,860,671.11	7,860,671.11		7,783,408.05	7,783,408.05
Total		18,888.67	7,860,671.11	7,879,559.78	18,589.91	7.783,408.05	7,801,997.96

		2021	2021	2021	2020
		Unrestricted	Endowment	Total
		Fund	Fund	Fund
DEBTORS
VAT recoverable					2,965.20
StRonans School rent due			54,225.00	54,225.00	102,816.66
Prepaid indemnity insurance		469.24		469.24
Transfers between unrestricted
and endowment funds		19,597.19		19,597.19	23,087.77
		20,066.43	54,225.00	74,291.43	128,869.63
CASH BALANCES
Investec Stockbrokers			6,791.87	6,791.87	4,559.60
Ashfords Client Account
NatWest Bank Business Account		5,957.08		5,957.08	1,484.74
		5,957.08	6,791.87	12,748.95	6,044.34
DEPOSIT INTEREST
Investec
Ashfords
Natwest Bank (gross)
					0.00
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
Natwest Bank Loans due within	one year		129,650,63	129,650.63	135,259.94
Transfers between unrestricted
and endowment funds			19,597.19	19,597.19	23,087.77
VAT payable		237.24		237.24
McCabe Ford Williams		4,637.50	4,637.50	9,275.00	9,000.00
Ashfords fees		2,260.10	6,780.29	9,040.38	17,791.20
Rent in advance from StRonans	School				8,333.33
		7,134.84	160,665.60	167,800.44	193,472.24

		2021	2021	2021	2020
		Unrestricted	Endowment	Total
		Fund	Fund	Fund
CREDITORS: AMOUNTS FALLING	DUE
IN MORE THAN ONE YEAR
Natwest Bank Loan - Pre-Prep School Developmer					37,884.57
Natwest Bank Loan - New Sports Hall			257,734.79	257,734.79	294,125.14
Less: Due within one year			(129,650.63)	(129,650.63)	(135,259.94)
			128,084.16	128,084.16	196,749.77
The amounts falling due in more than five	years:
Bank loan more than five years
Repayable by instalments
The following secured debts are included	within	creditors
Natwest Bank Loan - Pre-Prep School Developmer					37,884.57
NatWest Bank Loan —New Sports Hall			257,734.79	257,734.79	294,125.14
			257,734.79	257,734.79	332,009.71

								Investments	held	at	Investments	held	at
								1.1.21			31.12.21
								Holding		Book Value	Holding		Book Value	Market Value
Fixed Interest
FIL Fidelity Moneybuilder								11,164		11,037.19	11,164		11,037.19	11,309.00
Invesco Corporate	Bond							8,446		16,535.55	8,446		16,535.55	16,855.00
CG Portfolio Fund	Real			Return					70	15,135.10		70	15,135.10	14,732.00
Sequoia Economic								9,000		10,150.00
Muzinich &Co												100	10,546.00	10,333.00
										52,857.84			53,253.84	53,229.00
UK Equities, Investment						&Unit	Trusts
Murray Income Trust			Ord 25p					2,300		10,948.31	2,300		10,948.31	21,172.00
Diverse Income Trust			Ord			Ip		14,500		7,505.88	14,500		7,505.88	16,639.00
Mercantile Inv Tt	Ord		25p					9,000		3,725.86	9,000		3,725.86	24,210.00
										22,180.05			22,180.05	62,021.00
Overeas Equitics
J P Morgan Fleming		Euro Fledgling					Inc	5,500		3,296.09
JP Morgan US Equity			Inc					6,400		9,442.78	18,467		9,442.78	27,534.00
Schroder Oriental	Ord		I	p				8,500		10,469.55	8,500		10,469.55	22,780.00
										23,208.42			19,912.33	50,314.00
International Equities
BNY Mellon Newton			Higher Inc					12,000		9,8I2.29	12,000		9,812.29	21,900,00
F&C Inv Trust								3,200		17,456.48	3,200		17,456.48	29,664.00
Murray International		Trust						1,550		10,681.63	1,550		10,681.63	17,934.00
Caledonia Investments			Ord			5p			500	7,358.12		500	7,358.12	20,375.00
Polar Capital Fund	Global Ins							2,250		10,876.86	2,250		10,876.86	14,306.00
										56,185.38			56,185.38	104,179.00
Property
Schroder Real Estate								30,000		20,031.02	30,000		20,031.02	15,975.00
Alternate Assets
Nextenergy Solar	F Red							6,500		7,148.60	6,500		7,148.60	6,598.00
Personal Assets Trust									25	9,987.13		45	19,869.63	22,658.00
										17,135.73			27,018.23	29,256.00
Hedge Funds
CG Portfolio Fund	Absolute					Return			65	8,499.95		165	22,520.80	23,430.00
Summary
Fixed Interest										52,857.84			53,253.84	53,229.00
UK Equities, Investment					& Unit Trusts					22,180.05			22,180.05	62,021.00
Overeas Equities										23,208.42			19,912.33	50,314.00
International Equities										56,185.38			56,185.38	104,179.00
Property										20,031.02			20,031.02	15,975.00
Alternate Assets										17,135.73			27,018.23	29,256.00
I-ledge Funds										8,499.95			22,520.80	23,430.00
										200,098.39			221,101.65	338,404.00
										200,098.38			221,101.64	338,404.00
Unrealised gain														117,302.35
Unrealised gain arising			in		earlier years									(107,207.62)
Movement in unrealised				gain/(loss)			in 2021							10,094.73

Investment	Investment	Investment	Income	Income	for	for	thc year	ended 31stDecember 2021	ended 31stDecember 2021	ended 31stDecember 2021
											Interest
Description								Holding	Date		Cross	Dividend
												E
Overseas		Fixed Interest
CG Portfolio			Fund	Real		Return		70	30/11/2021		210.33
CG Portfolio			Fund	Absolute			Retun	165	30/11/2071		155.71
Muzinich		&.Co						100	08/12/7071		164.03
											530.07
IJnit Trust			Investment
FIL Moneybuilder								11,164	76/01/7071		30.33
									76/07/207	I	30.55
									26/03/2021		28.49
									26/04/7021		33.48
									26/05/7021		31.73
									25/06/7021		31.92
									76/07/2071		31.66
									26/08/2021		34.45
									74/09/2021		32.02
									76/10/7071		31.63
									26/11/2071		31.10
									74/12/2071		31.06
Invesco	Corporate			Bond				S,446	30/06/2021		231.02
									3 I/12/2021		235.59
											845.03
Unit Trusts
BNY Mellon Newton					Income			17,000	78/02/2021			118.39
									28/05/2071			137.51
									31/08/2021			187.80
									30/11/7071			119.07
J P Morgan			Am UK Equity				Incomi	18,467	29/01/2021			118.19
									30/04/2021			170.03
									30/07/7071			116.34
									29/10/7021			131.11
												1,043.39
Investment			Trusts	&:Equities
Caledonia		Investment			Trust			500	07/01/7071			85.00
									05/08/207	I		229.50
Foreign &:		Colonial		Inv	Tst			3,200	01/02/207	I		92.80
									13/05/2021			108.80
									02/08/207	I		96.00
									01/11/2021			96.00
IV1ercantile			Investment			Trust		9,000	01/07/7021			121.50
									30/04/2021			238.50
									02/08/2021			171.50
									01/11/2021			171.50
Murray	Income Trust							2,300	18/03/2021			90.85
									17/06/7071			189.75
									16/09/7071			224 25
									22/17/7071			189.75
Personal	Assets Trust								08/01/7071			35.00
									13/04/7021			35.00
									16/07/7021			35.00
									08/10/7021			35.00
J P Morgan		Euro Fledgling					Inc	5,500	22/01/2021			66.00
									30/07/2071			302.50
Carried	forward											2,514.20

Investme	nt	Income	for the	year ended	31st December 2021
						Interest
Description				Holding	Date	Gross		Dividend
Brought	fonvard							2,514.20
Murray	International		Trust	1,550	19/02/2021			186.00
					18/05/2021			286.75
					16/08/2021			186.00
					19/11/2021			186.00
Diverse	Income			14,500	26/02/2021			123.25
					28/05/2021			130.50
					31/08/2021			130.50
					30/11/2021			159.50
								3,902.70
Overeas	Equities
Polar Capital Fund Global				2,250	29/01/2021			28.13
					30/04/2021			48.83
					30/07/2021			62.78
					29/10/2021			42.98
Scltroder	Oriental			8,500	22/02/2021			161.50
					14/05/2021			161.50
					27/08/2021			161.50
					30/11/2021			408.00
Sequoia	Economic			10,150	05/03/2021			140.63
					08/06/2021			140.63
					06/09/2021			140.63
Nextenergy		Solar F		6,500	31/03/2021			114.56
					30/06/2021			114.56
					30/09/2021			116.35
					31/12/2021			116.35
								1,958.93
Property
Schroder	Real Estate		REI'I	30,000	12/03/2021			187.50
				30,000	25/06/2021			196.80
				30,000	13/08/2021			202.50
				30,000	17/12/2021			217.80
								804.60
							Income
Summary
Overseas	Fixed Interest						530.07
Unit Trust		Interest					845.03
Unit Trust		Dividends					1,043.39
Investment		Trusts &	Equities	Dividends			3,902.70
Overeas	Equities Dividends						1,958.93
Property	Income Dividends						804.60
							9,084.72

Disposals
Date	Nominal	Description					Book Value	Proceeds	Gain/(Loss)
01/09/2021	5,500	J P Morgan		Fleming Euro Fledgling		inc	3,296.09	30,313.00	27,016.91
24/09/2021	9,000	Sequoia	Economic				10,150.00	9,772.82	(377.18)
							13446.09	40,085.82	26,639.73
Acquisitions
Date	Nominal	Description					Book Value	Mode
22/09/2021	20	Personal	Assets Trust				9,882.50
27/09/2021	100	CG Portfolio Fund Absolute			Return		14,020.85
29/09/2021	100	Muzinich 8.Co					10,546.00
							34.449.35
Summary
01/01/2021	Book Value								200,098.38
	Less Disposals at		cost (as above)						13.446.09
									186,652.29
	Add Acquisitions		at cost (as above)						34,449.35
31/12/2021	Book Value								221,101.64

	Freehold	Assets in the course
	Propet@	ofconstruction	Total
Cost or valuation:
At 1 January 2021	7,750,000.00		7,750,000.00
Additions
Disposals
At 31 December 2021	7,750,000.00		7,750,000.00
Depreciation:
At 1 January 2021
Charge for year
Disposals
At 31December 2021
Net book value
At 31 December 2021	7,750,000.00		7,750,000.00
At 31 December 2020	7,750,000.00		7,750,000.00