SIR ROBERT SPEED CHARITABLE TRUST
Registered charity number 281440
ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021
THE SIR ROBERT SPEED CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2021
Attached to this report is a copy of the accounts for the year ended 30 June 2021, these having been prepared under the historical cost convention as modified by the revaluation of investments.
Statement of Financial Affairs Page 1-2 Balance Sheet Page 3 Statement of Investments Page 4-8 Notes to the Accounts Page 9
Trustee and Administrator:
Apex Corporate Trustees (UK) Limited Bastion House, 6th Floor, 140 London Wall London EC2Y 5DN
Bankers:
Lloyds Bank Plc PO Box 72 Bailey Drive Gillingham Business Park Kent, ME8 0LS
Chairman to the Council:
Investment Manager:
T M Powell Canaccord 34 Gorst Road 41 Lothbury London London SW11 6JE EC2R 7AE
The Trusts of the Settlement made by Sir Robert Speed, CB QC on 15 September 1980 (Registered Charity No. 281440) Registered address: Bastion House, 6th Floor, 140 London Wall, London EC2Y 5DN
The settlement up to November 2020 was divided into two parts, the first being the Original Fund which is held by the Trustee, upon trust to apply the same (at the direction of the Council) either as capital or income for the purpose of providing recreational facilities for the physical education and development of persons who are from time to time Resident Junior Members of the Universities of Oxford and Cambridge. No part of the Trust property need be retained or shall be treated as a permanent endowment, so that the whole of the Trust fund, whether capital or income, may at the discretion of the Council be expended on the objects of the Trust.
The second part is the Ladies Fund which was set up following receipt in February 2007 of a personal gift from Mr David Gilchrist of 50,000 shares in Kiln Group Plc. This fund and the income therefrom are kept separate from the other charity investments, so that the income can be used to assist with the running and coaching costs for the Oxford and Cambridge University Ladies Golf Clubs. During the year Zero (2020: £2,000) was paid out to the Ladies Golf Clubs from the Ladies Fund.
In November 2020, The Council decided to set up a new Fund " DivotsStymies Fund " to help second team golf at the Universities. Money paid into the Fund can only be distributed to those teams. Up to the year end £62,615 excluding Gift Aid of £7,360 and a transfer from the Original Fund of £4,333 was received. The Council anticipates that the first grants will be made in 2021/22 and note that such grants can be made from capital.
Investments
In accordance with the provisions of the Trust Deed the control and management of the Trust funds is vested in the Council who, in consultation with the Trust's Investment Manager, decide the investment policies to be followed. During the year there was a change in investment policy at the direction of the Council. The trust now invests in a maximum of 8 collective funds/investment trusts and no one fund should ordinarily exceed 30% of the overall value of the investment portfolio for each fund. Separate investment reports are made by the Investment Manager direct to the Council and accordingly no further comment is appropriate in this report, with the exception of comparing the value of the Funds with the values as at 30 June 2020.
THE SIR ROBERT SPEED CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 2021 (contd)
Investments (contd)
The investments held as at 30 June 2021 had a value of £815,868. Adding to this figure the cash in hand and debtors and deducting the creditors gives a total net value for the fund of £910,280 which compares with a value at 30 June 2020 of £690,021. This represents a increase in value of approximately £220,259 (32%) of which £76,928 is attributable to the DivotsStymies Fund.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Donations subject to Gift Aid | £ | 60,900 |
£ | 29,546 |
|
| Other Donations | £ | 60,787 |
£ | 7,370 |
as restated |
£87,357 (2020: £6,726 as restated) of the above donations were added to capital, and therefore excluded from incoming resources on page 1.
During the period 42 (2020: 9) new Gift Aid forms were received totalling £4,040, (2020: £700) including one off payments.
£21,718 (2020: £46,984) of the Trust income was distributed to the Oxford and Cambridge University Golf Clubs to cover expenses incurred during the year and a contribution to the golf coaching costs of Resident Junior Members.
Reserves Policy
The Council has recently considered the Reserves Policy and a statement regarding the Policy adopted is set out in the notes to the accounts (Note 4).
Taxation
A provision for income tax recoverable has been made as shown. A claim for refund of this tax in respect of Gift Aid will be submitted in due course.
Generally
The Trustee has power to charge fees under the terms of the Trust deed in accordance with its published fee scale. The fee charged is shown on page 9.
Apex Corporate Trustees (UK) Limited
Authorised Signatory
Date 202219th April
Independent examiner’s report to the trustees of the Sir Robert Speed Charitable Trust
I report to the charity trustees on my examination of the accounts of the Sir Robert Speed Charitable Trust for the year ended 30 June 2021 which are set out on pages 1 to 9.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or;
-
the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Alexander Gems
Relevant professional qualification or body: ICAEW
Address: Flat 5 Denmark House, 6 Denmark Avenue, Wimbledon, SW19 4HF
Date: 19 April 2021
SIR ROBERT SPEED CHARITABLE TRUST STATEMENT OF FINANCIAL AFFAIRS FOR THE YEAR ENDED 30 JUNE 2021
INCOMING RESOURCES
| Notes Investment Income - See Investment Schedules Tax recoverable on Investment Income Canaccord Interest HMRC Interest Donations Subject to Gift Aid - Tax Recoverable Other Donations TOTAL INCOMING RESOURCES RESOURCES USED Direct Charitable Expenditure - OUGC - basic grant - CUGC - basic grant - Coaching Costs (Men) 2 - Cost of Men's Dinner Match - Cost of Varsity Match programmes - OULGC - basic grant - CULGC - basic grant - Coaching Costs (Ladies) 2 - OULGC - Varsity Match expenses - CULGC - Varsity Match expenses - Subsidy for 'Putter' Competition' |
2021 Unrestricted Original Fund £ 15,183.86 - - 5.25 27,635.00 7,583.75 3,905.88 54,313.74 8,625.00 7,125.00 5,188.10 - - - - 780.00 - - - 21,718.10 |
2021 Restricted Ladies Fund £ 2,018.91 - - - 1,125.00 281.25 25.00 3,450.16 - - - - - - - - - - - - |
2021 Unrestricted Divot/Stymies Fund £ - - - - 1,640.00 410.00 - 2,050.00 - - - - - - - - - - - - |
2021 Total £ 17,202.77 - - 5.25 30,400.00 8,275.00 3,930.88 59,813.90 8,625.00 7,125.00 5,188.10 - - - - 780.00 - - - 21,718.10 |
2020 Unrestricted Original Fund £ 19,377.88 25.38 4.61 - 26,095.00 7,315.35 3,410.88 56,229.10 14,250.00 14,250.00 8,313.90 - - 2,230.00 2,230.00 1,110.00 - - 2,600.00 44,983.90 |
2020 Restricted Ladies Fund £ 2,099.10 - 1.81 - 685.00 171.25 25.00 2,982.16 - - - - - - - - 1,000.00 1,000.00 - 2,000.00 |
2020 Total £ 21,476.98 25.38 6.42 - 26,780.00 7,486.60 3,435.88 |
|---|---|---|---|---|---|---|---|
| 59,211.26 | |||||||
| 14,250.00 14,250.00 8,313.90 - - 2,230.00 2,230.00 1,110.00 1,000.00 1,000.00 2,600.00 |
|||||||
| 46,983.90 |
Page 1
SIR ROBERT SPEED CHARITABLE TRUST STATEMENT OF FINANCIAL AFFAIRS FOR THE YEAR ENDED 30 JUNE 2021
RESOURCES USED (CONTINUED)
| Notes Balances Carried Forward Other Expenditure - Administration 1 - Investment Manager TOTAL RESOURCES USED MOVEMENT IN TOTAL FUNDS Net Incoming Resources before Transfers Profit/(loss) on 3 investments - realised - unrealised Balances as at 1/7/2020 Adjustment between funds Additional endowment TOTAL FUNDS |
2021 Unrestricted Original Fund £ 21,718.10 7,476.00 5,084.10 12,560.10 34,278.20 20,035.54 80,163.46 5,921.22 601,152.46 (4,333.00) 22,049.21 724,988.89 £ |
2021 Restricted Ladies Fund £ - 924.00 774.26 1,698.26 1,698.26 1,751.90 10,681.68 7,063.48 88,868.63 - - 108,365.69 £ |
2021 Unrestricted Divots/Stymies Fund £ - - 43.80 43.80 43.80 2,006.20 2,024.46 637.72 - 4,333.00 67,925.00 76,926.38 £ |
2021 Total £ 21,718.10 8,400.00 5,902.16 14,302.16 36,020.26 23,793.64 92,869.60 13,622.42 690,021.09 - 89,974.21 910,280.96 £ |
2020 Unrestricted Original Fund £ 44,983.90 7,476.00 2,558.77 10,034.77 55,018.67 1,210.43 9,501.66 (45,108.69) 628,823.17 - 6,725.89 601,152.46 £ |
2020 Restricted Ladies Fund £ 2,000.00 924.00 394.17 1,318.17 3,318.17 (336.01) 15,557.24 (21,662.48) 95,309.88 - - 88,868.63 £ |
2020 Total £ 46,983.90 8,400.00 2,952.94 |
|---|---|---|---|---|---|---|---|
| 11,352.94 | |||||||
| 58,336.84 | |||||||
| 874.42 29,591.92 (66,771.17) 724,133.05 - 6,725.89 |
|||||||
| 690,021.09 £ |
Page 2
SIR ROBERT SPEED CHARITABLE TRUST BALANCE SHEET AS AT 30 JUNE 2021
| FIXED ASSETS Quoted Investments - See Schedules CURRENT ASSETS Income Tax recoverable Gift Aid Bank Current Account Broker Account TOTAL CURRENT ASSETS CURRENT LIABILITIES Creditors - Trustee Fees - CULGC coaching fee NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL ACCOUNT INCOME ACCOUNT - OULGC coaching fee - OUGC Basic Grant |
Notes 3 1 |
2021 Unrestricted Original Fund £ 666,422.00 666,422.00 8,416.25 60,573.10 5,558.54 74,547.89 (7,476.00) (330.00) (300.00) (7,875.00) 58,566.89 724,988.89 £ 675,535.63 49,453.26 724,988.89 £ |
2021 Restricted Ladies Fund £ 97,366.00 97,366.00 300.00 10,839.47 784.22 11,923.69 (924.00) - - - 10,999.69 108,365.69 £ 97,977.18 10,388.51 108,365.69 £ |
2021 Unrestricted Divots/Stymies Fund £ 52,080.00 52,080.00 7,360.00 16,915.00 571.38 24,846.38 - - - - 24,846.38 76,926.38 £ 74,920.18 2,006.20 76,926.38 £ |
2021 Total £ 815,868.00 |
2020 Unrestricted Original Fund £ 544,968.00 544,968.00 8,080.73 35,886.37 20,053.36 64,020.46 (7,476.00) (360.00) - 56,184.46 601,152.46 £ 571,734.74 29,417.72 601,152.46 £ |
2020 Restricted Ladies Fund £ 80,270.00 80,270.00 190.00 8,994.38 338.25 9,522.63 (924.00) - - 8,598.63 88,868.63 £ 80,232.02 8,636.61 88,868.63 £ |
2020 Total £ 625,238.00 |
|---|---|---|---|---|---|---|---|---|
| 815,868.00 16,076.25 88,327.57 6,914.14 |
625,238.00 8,270.73 44,880.75 20,391.61 |
|||||||
| 111,317.96 (8,400.00) (330.00) (300.00) (7,875.00) |
73,543.09 (8,400.00) (360.00) - |
|||||||
| 94,412.96 | 64,783.09 | |||||||
| 910,280.96 £ |
690,021.09 £ |
|||||||
| 848,432.99 61,847.97 |
651,966.76 38,054.33 |
|||||||
| 910,280.96 £ |
690,021.09 £ |
Page 3
SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions
Year ended 30th June 2021
| Schedule of investments and transactions Year ended 30th June 2021 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding | Market Value | Additions | Disposals | Profit | Holding | Book Value | Market Value | Net Income | ||||
| 01/07/2020 | 01/07/2020 | Quantity | Cost | Quantity | Proceeds | (Loss) | 30/06/2021 | 30/06/2021 | 30/06/2021 | |||
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Original Fund: | ||||||||||||
| Aberdeen Standard European Logistics | ||||||||||||
| Income Plc Ordinary Shs Gbp | 12,000 | 12,540.00 | - | - | 12,000 | 14,049.00 | 2,014.00 | - | - | - | 446.40 | |
| Artemis Income Fund | ||||||||||||
| Units Class -I- | 24,000 | 49,606.00 | - | - | 24,000 | 60,770.40 | 6,229.14 | - | - | - | 946.63 | |
| Baillie Gifford Positive | ||||||||||||
| Change Fund B Income | 7,550 | 19,018.00 | - | - | 7,550 | 27,466.90 | 9,890.50 | - | - | - |
- | |
| Baillie Gifford European Growth Trust | ||||||||||||
| Plc Shs Gbp | ||||||||||||
| - | - | 13,000 | 13,455.00 | 13,000 | 19,850.52 | 6,394.52 | - | - | - |
- | ||
| Baillie Gifford European Growth Trust PLC | ||||||||||||
| Ordinary 25p Shares | 1,300 | 13,455.00 | - | - | 1,300 | 13,455.00 | - | - | - | - | 45.50 | |
| Bb Healthcare Trust Plc | ||||||||||||
| Shs Gbp | - | - | 12,250 | 19,446.64 | 12,250 | 24,628.85 | 5,182.21 | - | - | - | 306.25 | |
| BlackRock Throgmorton Trust PLC | ||||||||||||
| Ordinary 5p Shares | - | - | 7,490 | 65,538.50 | - | - | - | 7,490 | 65,538.50 | 69,283.00 | - | |
| Brown Advisory US | ||||||||||||
| Sustainable Growth Fund GBP | - | - | 1,700 | 19,533.00 | 1,700 | 22,644.00 | 3,111.00 | - | - | - |
- | |
| City of London Trust | ||||||||||||
| Ordinary 25p Shares | ||||||||||||
| 12,500 | 42,438.00 | - | - | 12,500 | 46,842.43 | (3,261.26) | - | - | 1,781.25 | |||
| CVC Credit Partners | ||||||||||||
| European Opportunities Ltd ord | ||||||||||||
| 15,000 | 13,320.00 | - | 121.50 | 15,000 | 15,224.00 | 312.50 | - | - | - | 609.00 | ||
| Dunedin Income Growth Fund | ||||||||||||
| Ordinary 25p Shares | ||||||||||||
| 9,750 | 24,863.00 | - | - | 9,750 | 30,044.11 | 4,517.71 | - | - | - | 877.50 | ||
| Balances Carried Forward | 175,240.00 | 118,094.64 | 274,975.21 | 34,390.32 | 65,538.50 | 69,283 | 5,012.53 |
Page 4
SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions
Year ended 30th June 2021
| SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions Year ended 30th June 2021 |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding | Market Value | Additions | Disposals | Profit | Holding | Book Value | Market Value | Net Income | |||
| 01/07/2020 | 01/07/2020 | Quantity Cost | Quantity | Proceeds | (Loss) | 30/06/2021 | 30/06/2021 | 30/06/2021 | |||
| £ | £ | £ | £ | £ | £ | £ | |||||
| Balances Brought Forward | 175,240.00 | 118,094.64 | 274,975.21 | 34,390.32 | 65,538.50 | 69,283 | 5,012.53 | ||||
| Edinburgh Worldwide Investment Trust | |||||||||||
| Shs Gbp | |||||||||||
| - | - | 18,170 | 65,049.60 | - | - | - | 18,170 | 65,049.60 | 64,958 | - | |
| Fidelity | |||||||||||
| Global Dividend Fund | |||||||||||
| 10,000 | 19,750.00 | - | (120.89) | 10,000 | 21,430.00 | 2,350.89 | - | - | - | 475.42 | |
| GAM STAR | |||||||||||
| Credit Opportunities (GBP) QZ GBP Inc | |||||||||||
| 5,000 | 47,114.00 | - | 30.00 | 5,000 | 49,676.00 | 3,566.40 | - | - | - | 1,528.25 | |
| Hicl Infrastructure Plc | |||||||||||
| Ord Gbp0.0001 | |||||||||||
| 19,000 | 32,794.00 | - | - |
19,000 | 32,531.20 | 4,337.76 | - | - | - | 1,174.20 | |
| Impax Environmental Markets Plc | |||||||||||
| Ordinary GBP0.1 | |||||||||||
| - | - | 13,700 | 65,797.63 | - | - | - | 13,700 | 65,797.63 | 65,075 | - | |
| JPMorgan Asia Growth & Income PLC | |||||||||||
| Ordinary 25p Shares | |||||||||||
| 3,300 | 13,134.00 | 1,500 | 8,044.55 | 4,800 | 24,081.31 | 2,510.36 | - | - | - | 664.20 | |
| Jpmorgan Global Emerging Markets Income | |||||||||||
| Trust Plc Shs Gbp | |||||||||||
| 10,000 | 11,075.00 | - | - |
10,000 | 15,007.20 | 1,137.20 | - | - | - | 510.00 | |
| JPMorgan Global Growth & Income PLC Shs Gbp | |||||||||||
| - | - | 30,900 | 132,623.80 | - | - | - | 30,900 | 132,623.80 | 133,179 | ||
| Jupiter Strategic Bond Fund | |||||||||||
| Units Class -I- Gbp | |||||||||||
| 61,000 | 40,565.00 | - | - |
61,000 | 40,565.00 | - | - | - | - | ||
| Jupiter Strategic Bond Fund | |||||||||||
| Ptg.Units Class -Z- Gbp | |||||||||||
| - | - | 60,990.88 | 40,565.00 | 60,990.88 | 40,510.14 | (291.21) | - | - | - | 1,030.26 | |
| Law Debenture Corporation | |||||||||||
| Ordinary 5p Shares | |||||||||||
| - | - | 4,250 | 30,558.08 | 4,250 | 31,882.50 | 1,324.42 | - | - | - |
- | |
| Martin Currie Global Portfolio Trust | |||||||||||
| Ordinary 5p Shares | |||||||||||
| - | - | 34,275 | 132,379.76 | - | - | - | 34,275 | 132,379.76 | 139,842 | - | |
| Balances Carried Forward | 339,672.00 | 593,022.17 | 530,658.56 | 49,326.14 | 461,389.29 | 472,337 | 10,394.86 | ||||
| Page 5 |
SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions
Year ended 30th June 2021
| Schedule of investments and transactions Year ended 30th June 2021 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding | Market Value | Additions | Disposals | Profit | Holding | Book Value | Market Value | Net Income | ||||
| 01/07/2020 | 01/07/2020 | Quantity Cost | Quantity | Proceeds | (Loss) | 30/06/2021 | 30/06/2021 | 30/06/2021 | ||||
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Balances Brought Forward | 339,672.00 | 593,022.17 | 530,658.56 | 49,326.14 | 461,389.29 | 472,337 | 10,394.86 | |||||
| MI Chelverton Equity Fund - MI Chelverton | ||||||||||||
| UK Equity Fund Inst Inc | 12,500 | 11,076.00 | (45.08) | 12,500 | 15,133.75 | 520.08 | - | - | - | 313.82 | ||
| Monks Investment Trust | ||||||||||||
| Ordinary 5p shares | ||||||||||||
| - | - | 9,300 | 131,098.34 | - | - | - | 9,300 | 131,098.34 | 127,410 | - | ||
| Picton Property Income Ltd | ||||||||||||
| Shs | 14,500 | 9,831.00 | - | - | 14,500 | 13,106.39 | (401.56) | - | - | - | 308.13 | |
| Polar Capital Fund | ||||||||||||
| Healthcare Opportunities | ||||||||||||
| 465 | 20,706.00 | - | - | 465 | 19,446.30 | 2,264.55 | - | - | - |
- | ||
| Polar Capital Technology Trust | ||||||||||||
| Ordinary 25p Shares | ||||||||||||
| 1,050 | 21,315.00 | - | - | 1,050 | 24,457.14 | 11,653.14 | - | - | - |
- | ||
| Rathbone Ethical Bond Fund | ||||||||||||
| Accum.Units Class Institutional GBP | ||||||||||||
| - | - | 24,000 | 25,215.82 | 24,000 | 25,660.54 | 444.72 | - | - | - | 333.60 | ||
| Scottish American Inv Co | ||||||||||||
| Ordinary 25p Shares | ||||||||||||
| 4,750 | 19,523.00 | - | - | 4,750 | 23,094.69 | 3,239.67 | - | - | - | 427.50 | ||
| Smithson Investment Trust Plc | ||||||||||||
| Accum Ordinary Shs Gbp | ||||||||||||
| - | - | 3,750 | 65,566.00 | - | - | - | 3,750 | 65,566.00 | 66,675 | - | ||
| Supermarket Income Reit Plc | ||||||||||||
| Registered Shs | ||||||||||||
| - | - | 12,500 | 13,000.00 | 12,500 | 13,917.88 | 917.88 | - | - | - | 366.26 | ||
| Tb Evenlode | ||||||||||||
| Income C Inc | ||||||||||||
| 15,000 | 33,273.00 | - | - | 15,000 | 35,632.50 | (1,074.05) | - | - | - | 828.93 | ||
| The Mercantile Investment Trust Plc | ||||||||||||
| Shs Gbp | ||||||||||||
| - | - | 11,750 | 30,581.55 | 11,750 | 32,498.03 | 1,916.48 | - | - | - | 311.38 | ||
| The Renewables Infrastructure Grp | ||||||||||||
| Ords NPV | ||||||||||||
| 8,049 | 10,158.00 | - | - | 8,049 | 9,989.70 | 330.90 | - | - | - | 408.09 | ||
| Balances Carried Forward | 465,554.00 | 858,438.80 | 743,595.48 | 69,137.95 | 658,053.63 | 666,422 | 13,692.57 | |||||
| Page 6 |
SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions
Year ended 30th June 2021
| SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions Year ended 30th June 2021 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding | Market Value | Additions | Disposals | Profit | Holding | Book Value | Market Value | Net Income | ||||
| 01/07/2020 | 01/07/2020 | Quantity Cost | Quantity | Proceeds | (Loss) | 30/06/2021 | 30/06/2021 | 30/06/2021 | ||||
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Balances Brought Forward | 465,554.00 | 858,438.80 | 743,595.48 | 69,137.95 | 658,053.63 | 666,422 | 13,692.57 | |||||
| Treasury 4.125% | ||||||||||||
| Index Linked 22/07/2030 | 9,000.00 | 35,225.00 | - | - | 9,000.00 | 33,521.80 | 5,674.02 | - | - | - | 801.29 | |
| Vanguard US | ||||||||||||
| Opportunities Fund GBP Inc | 22 | 19,081.00 | - | - |
22 | 19,134.70 | 2,791.49 | - | - | - | - | |
| Vontobel Fund | ||||||||||||
| TwentyFour Strategic Income Fund AQG GBP | 250 | 25,108.00 | - | - |
250 | 26,817.50 | 2,560.00 | - | - | - | 690.00 | |
| TOTAL: Original Fund | 544,968.00 | 858,438.80 | 823,069.48 | 80,163.46 | 658,053.63 | 666,422 | 15,183.86 | |||||
| Ladies Fund | ||||||||||||
| BlackRock Throgmorton Trust PLC | ||||||||||||
| Ordinary 5p Shares | - | - | 1,095 | 9,581.25 | - | - | - | 1,095 | 9,581.25 | 10,129 | - | |
| Dunedin Income Growth Fund | ||||||||||||
| Ordinary 25p Shares | 4,850 | 12,368.00 | 3,850 | 11,397.00 | 8,700 | 26,808.49 | 2,293.10 | - | - | 750.39 |
- | 436.50 |
| Ecofin Global Utilities And Infrastructure re Trust Plc Shs | ||||||||||||
| Gbp | 5,250 | 8,584.00 | - | - | 5,250 | 9,920.10 | 1,160.47 | - | - | 175.63 |
- | 259.89 |
| Edinburgh Worldwide Investment Trust | ||||||||||||
| Shs Gbp | ||||||||||||
| - | - | 2,655 | 9,504.90 | - | - | - | 2,655 | 9,504.90 | 9,492 | - | ||
| Impax Environmental Markets Plc | ||||||||||||
| Ordinary GBP0.1 | ||||||||||||
| 2,650 | 8,361.00 | - | - | 650 | 3,116.76 | 1,421.83 | 2,000 | 5,215.15 | 9,500 | 60.95 | ||
| JPMorgan Global Growth & Income PLC | ||||||||||||
| Shs Gbp | 6,000 | 20,100.00 | - | - | 1,420 | 6,085.80 | 1,115.88 | 4,580 | 16,029.76 | 19,740 | 787.80 | |
| Lindsell Train | ||||||||||||
| Global Equity B Inc | 2,850 | 11,219.00 | - | 1.65 | 2,850 | 11,139.23 | 1,821.60 | - | 1,903.02 | - | 58.37 | |
| Martin Currie Global Portfolio Trust | ||||||||||||
| Ordinary 5p Shares | - | - | 4,925 | 19,029.12 | - | - | - | 4,925 | 19,029.12 | 20,094 | - | |
| Balances Carried Forward | 60,632.00 | 49,513.92 | 57,070.38 | 7,812.88 | 79,509.40 | 68,955 | 1,603.51 | |||||
| Page 7 |
SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions
Year ended 30th June 2021
| SIR ROBERT SPEED CHARITABLE SETTLEMENT Schedule of investments and transactions Year ended 30th June 2021 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Holding | Market Value | Additions | Disposals | Profit | Holding | Book Value | Market Value | Net Income | ||||
| 01/07/2020 | 01/07/2020 | Quantity Cost | Quantity | Proceeds | (Loss) | 30/06/2021 | 30/06/2021 | 30/06/2021 | ||||
| £ | £ | £ | £ | £ | £ | £ | ||||||
| Balances Brought Forward | 60,632.00 | 49,513.92 | 57,070.38 | 7,812.88 | 60,337.18 | 68,955 | 1,603.51 | |||||
| Monks Investment Trust | ||||||||||||
| Ordinary 5p shares | - | - | 1,360 | 19,172.22 | - | - | - | 1,360 | 19,172.22 | 18,632 | - | |
| Smithson Investment Trust Plc | ||||||||||||
| Accum Ordinary Shs Gbp | - | - | 550 | 9,616.20 | - | - | - | 550 | 9,616.20 | 9,779 | - | |
| Tb Evenlode Investment Funds Icvc | ||||||||||||
| Tb Evenlode Global Income Shs -F- Gbp | 16,300 | 19,638.00 | - | - | 16,300 | 21,881.12 | 2,868.80 | - | 625.68 | - | 415.40 | |
| TOTAL: Ladies Fund | 80,270.00 | 78,302.34 | 78,951.50 | 10,681.68 | 89,751.28 | 97,366 | 2,018.91 | |||||
| Divots/Stymies Fund | ||||||||||||
| BlackRock Throgmorton Trust PLC | ||||||||||||
| Ordinary 5p Shares | ||||||||||||
| - | - |
585 | 5,118.75 | - | - | - | 585 | 5,118.75 | 5,411 | - | ||
| Edinburgh Worldwide Investment Trust Shs Gbp | ||||||||||||
| - | - |
1,425 | 5,101.50 | - | - | - | 1,425 | 5,101.50 | 5,094 | - | ||
| Impax Environmental Markets Plc | ||||||||||||
| Ordinary GBP0.1 | - | - |
1,075 | 5,162.87 | - | - | - | 1,075 | 5,162.87 | 5,106 | - | |
| JPMorgan Global Growth & Income PLC Shs Gbp | ||||||||||||
| - | - |
2,425 | 10,409.10 | - | - | - | 2,425 | 10,409.10 | 10,452 | - | ||
| Martin Currie Global Portfolio Trust | ||||||||||||
| Ordinary 5p Shares | - | - |
2,640 | 10,200.84 | - | - | - | 2,640 | 10,200.84 | 10,771 | - | |
| Monks Investment Trust | ||||||||||||
| Ordinary 5p shares | - | - |
730 | 10,291.44 | - | - | - | 730 | 10,291.44 | 10,001 | - | |
| Montanaro Uk Smaller Companies | ||||||||||||
| Investment Trust Plc Shs Gbp | ||||||||||||
| - | - |
16,000 | 23,286.00 | 16,000 | 25,310.46 | 2,024.46 | - | - | - | - | ||
| Smithson Investment Trust Plc | ||||||||||||
| Accum Ordinary Shs Gbp | - | - |
295 | 5,157.78 | - | - | - | 295 | 5,157.78 | 5,245 | - | |
| TOTAL: Divots/Stymies Fund | - | 74,728.28 | 25,310.46 | 2,024.46 | 51,442.28 | 52,080 |
- | |||||
| TOTAL: | 625,238.00 | 1,011,469.42 | 927,331.44 | 92,869.60 | 799,247.19 | 815,868 | 17,202.77 | |||||
| Page 8 |
SIR ROBERT SPEED CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021
1. APEX CORPORATE TRUSTEES (UK) LIMITED - ADMINISTRATION FEES
| Fixed Fee Plus VAT @ 20% 2. GOLF COACHING COSTS Oxford University Golf Club Cambridge University Golf Club Oxford University Ladies Golf Club Cambridge University Ladies Golf Club 3. FIXED ASSET INVESTMENTS Quoted Investments - 1 July 2020 Additions Disposals Net Realised Investment Gains/(Losses) Net Unrealised Investment Gains/(Losses) Historical Cost as at 30 June 2021 |
£ Original Fund 6,230.00 1,246.00 7,476.00 £ |
£ Ladies Fund 770.00 154.00 924.00 £ £ 4,500.00 688.10 450.00 330.00 |
£ Divots/Stymies - - - £ |
£ Total 7,000.00 1,400.00 |
|---|---|---|---|---|
| 8,400.00 £ |
||||
| £ 5,188.10 780.00 |
||||
| 5,968.10 £ |
||||
| £ 625,238.00 1,011,469.42 (927,331.44) 92,869.60 13,622.42 |
||||
| 815,868.00 £ |
||||
| 799,247.19 £ |
New funds transferred to Canaccord for investing during the year £74,533 (Main Fund £24,500 and Divots/Stymies £50,033)
4. RESERVES POLICY
The Council has recently considered the Trust’s reserves policy with reference to Charity Commission Guidelines. The Council expects the Trust to hold, under normal circumstances, not more than £50,000 of free reserves at the year end, to allow for significant fluctuations in income and the potential need for a major grant to one or other of the University Golf Clubs for a one-off purpose rather than to cover routine expenditure.
Free reserves at the year end were £49,453.26 and therefore within the Council’s target range.
The Council intends to review the Trust’s reserve policy on an annual basis.
Page 9