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2022-04-05-accounts

Page
Legalandadministrativeinformation 1
Trustees'report 2-4
Statementoftrustees'responsibilities 5
Independentexaminer'sreport 6
Statementoffinancialactivities 7
Statementoffinancialposition 8
Statementofcashflows 9
Notestothefinancialstatements 10-17
Investmentschedule 18-28

Trustees MrsSusannaPeake
MrsKatharineLoyd
Charitynumber 283462
Registeredoffice/Addressforappeals 8FinsburyCircus
London
EC2M7AZ
Independentexaminer MrRussellJosephACA
BournerBullockCharteredAccountants
114StMartin'sLane
CoventGarden
London
WC2N4BE
Bankers LloydsBankPlc
HighStreet
Moreton-in-Marsh
Gloucestershire
GL560AY
Solicitors Currey&Co
33QueenAnneStreet
London
W1G9HY
Investmentadvisors SarasinandPartnersLLP
JuxonHouse
100StPaul'sChurchyard
London
EC4M8BU

UnrestrictedUnrestricted UnrestrictedUnrestricted
funds funds
2022 2021
Notes
£		 £
Income
Investments 3 179,809 185,249
Returneddonations 6 - 1,000
Totalincome 179,809 186,249
Expenditure
Raisingfunds 4 31,275 26,069
Charitableactivities 5 229,959 156,191
Totalresourcesexpended 261,234 182,260
Net(expenditure)/incomebeforeinvestmentgains (50,150) 30,058
Netgainsoninvestments 15 517,809 1,869,591
Netmovementinfunds 436,384 1,873,580
Fundbalancesat6April2021 9,418,172 7,544,592
Fundbalancesat5April2022 9,854,556 9,418,172

2022 2021
Notes £ £ £ £
Fixedassets
Investments 11 9,551,324 9,065,748
Currentassets
Debtors 12 4,878 7,132
Cashatbankandinhand 309,757 355,192
314,635 362,324
Creditors:amountsfallingduewithin
oneyear 13 (11,403) (9,900)
Netcurrentassets 303,232 352,424
Totalassetslesscurrentliabilities 9,854,556 9,418,172
Incomefunds
Unrestrictedfunds 9,854,556 9,418,172
9,854,556 9,418,172

2022 2021
Notes £ £ £ £
Cashflowsfromoperatingactivities
Cashabsorbedbyoperations 16 (259,731) (180,981)
Investingactivities
Purchaseofinvestments (1,303,932) (1,199,793)
Proceedsondisposalofinvestments 1,020,878 1,323,498
Investmentincomereceived
Netcash(usedin)/generatedfrom
investingactivities (100,991) 310,357
Net(decrease)/increaseincashandcash
equivalents (360,722) 129,376
Cashandcashequivalentsatbeginningofyear 808,360 678,984
Cashandcashequivalentsatendofyear
17		 447,638 808,360

2022 2021
£ £
Incomefromlistedinvestments 25,139 21,024
Unittrustincome 89,065 104,549
Fixedinterest 15,380 -
Unittrustinterest 1,477 10,440
REITS 4,460 12,332
Foreignincome 46,264 37,664
Interestreceivable 278 643
Unrecoverabletax (2,254) (1,403)
179,809 185,249
4 Raisingfunds
2022 2021
£ £
Investmentmanagementfee 31,275 26,069
31,275 26,069
5 Charitableactivities
2022 2021
£ £
Grantfundingofactivities(seenote18) 228,000 154,500
Shareofgovernancecosts(seenote8) 1,959 1,691
229,959 156,191

2022 2021
£ £
Grantstoinstitutions:
EducationandChildren 32,500 21,000
LocalCharitableOrganisations 33,500 39,000
MedicalandHospices 87,500 35,000
ElderlyandDisabled 25,500 10,000
International 25,500 10,000
General 18,500 34,500
AnimalandEnvironment 5,000 2,000
ArmedForces - 3,000
22Rnnn 1545nn

Supportcosts
Support Governance 2022Supportcosts Governance 2021
costs
costs		 costs
£
£		 £ £ £
LEIfee 39 39 - 41 41
Independentexaminer's
fee 1,920 1,920 - 1,650 1,650
1,959 1,959 - 1,691 1,691

11 Fixedassetinvestments Listed Cashin Total
investments portfolio
£ £ £
Valuation
At6April2021 8,612,580 453,168 9,065,748
Additions 1,303,932 - 1,303,932
Valuationchanges 584,660 - 584,660
Realised(losses) (66,851) - (66,851)
Cashavailabletoinvest - (315,287) (315,287)
Disposals (1,020,878) - (1,020,878)
At5April2022 9,413,443 137,881 9,551,324
At5April2021 8,612,580 453,168 9,065,748
Investmentsrepresentingmorethan5%ofthe portfoliostotal marketvalue:
Investment Units
MarketValue
%ofTotal		 Market
£ Value
SarasinEndowmentsFundClassAInc 1,250,000
1,523,750		 16.18%
SarasinIncomeandReservesFundClassAInc 575,000
623,300		 6.62%
JPMorganAmericanInvestmentOrd 119,500
922,540		 9.79%
ThreadneedleInvestmentAmericanGrowth 80,000
475,736		 5.05%
2022 2021
£ £
Listed investments 9,413,443 8,612,580
Cashininvestmentportfolio 137,881 453,168
9,551,324 9,065,748
Historiccostofinvestments 6,273,691 5,734,380
12 Debtors
2022 2021
Amountsfallingduewithinoneyear: £ £
HMRCtaxrepayable 4,878 7,132
4,878 7,132

Creditors:amountsfallingduewithinoneyear
2022 2021
£ £
Investmentmanagementfee 8,013 6,870
Independentexaminersfee 3,390 3,030
11,403 9,900

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Revaluationofinvestments 584,660 1,722,737
(Loss)/gainonsaleofinvestments (66,851)
146,854
Cashgeneratedfromoperations 2022 2021
£ £
Surplusfortheyear 436,384 1,873,580
Adjustmentsfor:
Investmentincomerecognisedinstatementoffinancialactivities (182,063) (186,652)
Loss/(gain)ondisposalofinvestments 66,851 (146,854)
Fairvaluegainsoninvestments (584,660) (1,722,737)
Movementsinworkingcapital:
Decrease/(increase)indebtors 2,254 (736)
Increaseincreditors 1,503 2,418
Cashabsorbedbyoperations (259,731) (180,981)

17 Cashandcashequivalents
2022 2021
£ £
Cashatbankandinhand 309,757 355,192
Cashavailabletoinvest 137,881 453,168
447,638 808,360

Donationsmadetoinstitutionsduringtheyear
2022
ActionforStammeringChildren 5,000
AllofUsVersusArthritis 5,000
AVUK 50,000
BrainTumourSupport 3,000
BritishRedWirelessfortheBlind 5,000
BourtononTheHill-RetreatfortheAged 15,000
CarersCentre 5,000
CotswoldFriends 5,000
DeafBlindUK 5,000
DisastersEmergencyCommittee 10,000
FarmAfrica 5,000
FightagainstBlindness 2,500
GL11CommunityHub 5,000
GloucestershireCommunityFoundation 2,000
GloucestershireSociety 2,000
HopeforTomorrow 5,000
KeepBritainTidy 1,000
LifeEducationBristol 3,000
ListeningBooks 4,000
LondonReadingCentre 3,000
Longborough&SezincoteVillageHall 2,000
LongboroughPrimarySchool 5,000
LongfieldHospice 4,500
NorthCotswoldsFoodbank 2,500
OracleCancerTrust 2,000
PainConcern 2,500
PainReliefFoundation 3,000
PumpAid 2,500
Prisoner'sAdviceService 5,000
Prisoner'sEducationTrust 5,000
RDA 3,000
ReadEasy 5,000
RedSquirrelSurvivalTrust 5,000
ShannonTrust 5,000
ShelterBox 5,000
Sightsavers 4,000
StJames'Church 4,500
StJohntheBaptistChurch,Eastmor 5,000
StLawrenceChurch 3,500
TheOesophagaelPatientsAssociation 3,000
TheTheatre,ChippingNorton 5,000
WarChild 2,500
Zane 3,000
228,000

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6April 2021 6April 2021 Quantity Cost Quantity Proceeds Profitt(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
AIAGroupLtd
US$1.00shares
18,800 165,059 1,717
(11,835) 18,800 153,224 672
AlibabaGroupHoldings
USK0.000003125Shares
1,800 36,655 1,800 27,895 (8,760)
AmazonCommonInc
CommonUSD0.01
40 92,896 7,054 40 99,950
AmericanTowerCorp
CommonNewUSD0.01
550 96,885 417
431
447
13,241 550 110,126 473
ArgosFunds
ArgonautFundClassXAccums
775 203,848 9,541 775 213,389
AssociatedBritishFoods
Ordinary515/22p
5,000 122,550 310
690
(40,400) 5,000 82,150 1,025

Holding Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6 April 2021 6April2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
AtratoOnsiteEnergyPic
Ordinary GBP0.01
58,095 58,095 6,855 58,095 64,950
BaringFundManagers
EuropeSelectTrustIincome
6,977 347,963 336
(22,467) 6,977 325,496 4,258
BbgiGlobalInfrastructureS.A
OrdinaryNoParValue(Di)
32,263 53,557 2,645 32,263 56,202 1,182
BiopharmaCreditPlc
OrdinaryUSD0.01
70,000 50,675 4,766 70,000 55,441 929
BkOfNovaScotia
CommonNoParValue
2,100 92,882 920
940
21,839 2,100 114,721 1,046
BroadcomCorp
CommonUSD1.00
350 123,052 774
797
903
40,639 350 163,691 925

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6April 2021 6April 2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
CmeGroupInc
CommonStkUSDO.01 Class'a'
550 82,116 303
307
313
1,106
17,346 550 99,462 354
CoifCharityFds
PropertyInc
59,242 67,773 906
800
800
9,946 59,242 77,719 812
Credicorp
Common USD5
500 50,385 174 15,633 (1,901)
49 4,367 (571)
50 4,354 (684)
227 19,780 (3,095)
Deere&Co
CommonUSD1
350 90,187 193
231
20,085 350 110,272 231

Holding Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6April 2021 6April2021 Quantity Cost Quantity Proceeds Profitl(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
EcolabInc
CommonUSD1
800 126,029 237
235
238
(16,249) 800 109,780 254
Enel
EUR1
32,300 231,361 15,000 80,010 (27,433) 3,778
(34,103) 17,300 89,815 3,794
EquinixInc
CommonUSD0.001New
254 126,185 439
454
469
21,290 254 147,475 505
FindlayParkUSSmallerCosFd
USSmallerCos
3,000 356,701 54,334 3,000 411,035

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6 April 2021 6April 2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
GreshamHouseEnergyStorageFdPic
OrdinaryGBP0.01
68,600 78,547 36,303 40,659 515
686
515
686
1,836
1,731
27,658 104,903 146,864 105
HomeReitPlc
OrdinaryGBP0.01
125,000 142,500 125,000 136,250 830
840
250
34,750 250,000 313,500 2,540
InternationalPublicPartner
GBp0.0001shs
45,000 75,864 1,086 45,000 76,950
JacksonFinancialInc
USD0.01CisACommonStockWI
250 2,267 250 4,445 2,178
JPMorganAmericanInvTrustpie
Ordinary5pshares
119,500 725,365 5,079
197,175 119,500 922,540 2,988

Holding Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6April 2021 6April 2021 Quantity Cost Quantity Proceeds Profitt(loss) Profiti(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
LifeScienceReitPlc
OrdinaryGBP0.01
141,524 141,524 1,061 141,524 142,585
LinkFundSolutionsLtd
MorantWrightNipponYieldFund bInc
60,000 209,796 3,509
2,682 60,000 212,478 3,017
M&Gplc
5pOrdinaryShares
10,000 20,940 1,223
760 10,000 21,700 610
MastercardIncorporated
CommonUsdd0.0001Class'a'
335 88,717 90
90
92
3,974 335 92,691 103
Merck&CoIncNew
CommonStkUSD0.50
1,250 69,275 (3,628) 498
500
509
14,050 1,250 79,697 542

Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding Holding MarketValueGrossIncome MarketValueGrossIncome
6April2021 6April2021 Quantity Cost Quantity Proceeds Profitl(loss) Profit/(loss) 5April 2022 5April2022
£ £ £ £ £ £ £ £
MicrosoftCorp
CommonUSD0.000025
800 143,412 269
277
319
45,990 800 189,402 321
NexteraEnergyInc
CommonStkUSD0.01
3,400 187,888 788
803
842
35,646 3,400 223,534 941
Organon&Co
CommonUSD0.01
125 3,628 125 2,504 (1,124)

Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding MarketValueGrossIncome MarketValueGrossIncome
6 April2021 6April2021 Quantity Cost Quantity Proceeds Profitl(loss) Profit/(loss) 5April2022 5April2022
£ £ £ £ £ £ £
OrstedA/s
DKK10
1,200 140,361 93 8,751 (2,127)
166 15,874 (3,543)
98 9,637 (1,825)
138 13,632 (2,510)
186 18,427 (3,329)
37 3,610 (718)
46 4,487 (893)
27 2,637 (521)
68 6,643 (1,311)
19 1,854 (368)
45 4,388 (876)
46 4,477 (904)
35 3,449 (644)
10 978 (192)
13 1,262 (259)
38 3,668 (776)
14 1,340 (298)
121 10,977 (3,176)

Holding Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding Holding MarketValueGrossIncome MarketValueGrossIncome
6 April 2021 6April2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 5April 2022 5April2022
£ £ £ £ £ £ £ £
Prudential
Ordinary5p
10,000 155,150 2,267 771
(39,533) 10,000 113,350 389
RenewablesInfrastructureGRP
NPVOrdinaryshares
76,041 94,291 1,289
240 305 1,289
63,719 84,109 12,815 140,000 191,520
RocheHldgsAg
CHFl(BR)
500 123,675 500 90,086 (33,589)
RocheHoldingsAg
GenusscheineNoParValue
500 90,086 67,925 500 158,011 2,441
Sarasin&PartnersLip
EndowmentAGBPDis
1,850,000 2,199,650 200,000 243,800 6,000 14,245
400,000 502,000 26,400 13,860
10,500
37,500 1,250,000 1,523,750 10,500

Holding MarketValue Additions Disposals Disposals Realised Unrealised Holding Holding MarketValueGrossIncome MarketValueGrossIncome
6April2021 6April2021 Quantity Cost Quantity Proceeds Profitl(loss) Profit/(loss) 5April 2022 5April2022
£ £ £ £ £ £ £ £
Sarasin&PartnersLip
Income&ReservesAGBPDis
575,000 650,900 5,050
4,933
4,791
(27,600) 575,000 623,300 4,695
Sarasin&PartnersLip
GlobalDividendDGBPDisHgd
135,000 230,715 204
(1,151) 1,137
(739) 135,000 228,825 1,100
SarasinFundManagementS.A.
GlobalHigherDividendDInc
115,000 219,075 1,568
1,852
1,695
23,460 115,000 242,535 1,167
SarasinInvestmentFunds
ResponsibleCorpBondIGBPInc
400,000 408,400 3,881
3,934
3,663
(31,560) 400,000
376,840		 3,902
SiemensAg
Npv(Regd)
1,150 137,344 450 52,745 (27,876) 1,600 162,213 3,941

Holding Market Value Additions Disposals Disposals Realised Unrealised Holding Holding Market ValueGrossIncome ValueGrossIncome
6 April2021 6April 2021 Quantity Cost Quantity Proceeds Profit/(loss) Profit/(loss) 5April 2022 5April 2022
£ £ £ £ £ £ £ £
ThreadneedleInv
Amer/gthAccInstShsNay
80,000 407,216 649 67,871 80,000 475,736 649
Unilever
Ordinary31/9p
2,200 88,484 816
812
792
(10,681) 2,200 77,803 792
UtdParcel Sery
Class'b'comUSD0.01
1,000 123,758 612
631
655
26,429 1,000 150,187 983
WisdomtreeMetalSecsLtd
WisdomtreeMetalSecsLtd
301 7,775
121 3,121
137 3,528
3,441 88,153 (13,697) 4,000 88,880
TOTAL: 8,612,580 1,396,286 1,113,232 (66,849) 584,657 9,413,442 181,785