##
|||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|||||
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|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||
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||||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|
##
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