| CO~ | CO~ | ||
|---|---|---|---|
| OIBccrs | and profesaionat advisers |
||
| IhlsteA | report | 2-3 | |
| Independent auditors' |
report | 4-5 | |
| Statement | offtnanrdai | activides | |
| Balance | sheet | ||
| Notes to | the Snancial | statements | 8-11 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | ||||
| INCOME AND ENDOWMENTS FROM: | ||||
| Investments | 2 | 129,161 | 155,406 | |
| EXPENDITURE ON: | ||||
| Raising funds: | ||||
| Investment management fee |
3 | (44,154) | (42,982) | |
| Charitable expenditure: |
||||
| Grants paid | 4 | (125,000) | (150,000) | |
| Support costs | 5 | (60) | (60) | |
| Governance costs | 6 | (4,768) | (3,348) | |
| TOTAL | (173,982) | (196,390) | ||
| NET (EXPENDITURE) BEFOREGAINS |
ON INVESTMENTS | (44,821) | (40,984) | |
| NET GAINS ON INVESTMKNTS | 7 | 281,794 | 690,852 | |
| NET INCOME | 236,973 | 649,868 | ||
| NET MOVEMENT IN FUNDS | 236,973 | 649,$68 | ||
| RECONCILIATION OFFUNDS | ||||
| Unrestricted fund balance brought forward |
10 | 5,521,429 | 4,871,561 | |
| Unrestricted fund balance carried forward |
10 | 5,75$,402 | 5,521,429 | |
| Eadowtnent fund balance brought forward |
and carried forward | 43,837 | 43,837 | |
| TOTAL FUNDS CARRIED FORWARD | 55,802vt39 | j5,565,266 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Notes | 8 | 8 | ||||
| INVESTMENTS | 7 | 5,708,721 | 5,459,413 | |||
| CURRENT ASSETS | ||||||
| Debtors | 8 | 1,909 | 606 | |||
| Cash atbank | 225,869 | 264,187 | ||||
| 227,778 | 264,793 | |||||
| LIABILITIES | ||||||
| Creditors falling diue within one year | 9 | (134,160) | (158,840) | |||
| Bestobetl Founders Welfare Trust Limited | (100) | (100) | ||||
| (134,260) | (158,940) | |||||
| NETCURRENT ASSETS/(LIABILITIES) | 93,518 | 105,853 | ||||
| NETASSETS | 85,802,239 | I5,565,266 | ||||
| FUNDS | ||||||
| Permanent endowment |
funds | 10 | 43,837 | 43,837 | ||
| Unrestricted fund |
10 | 5,758,402 | 5,521,429 | |||
| 85,802439 | 85,565,266 |
| INVESTMENT INCOME | 2020 | 2019 | ||
|---|---|---|---|---|
| 8 | ||||
| Fixed interest and dividends | on ordinary | shares | 128,990 | 154,514 |
| Interest on cash deposits | 171 | 892 | ||
| 5129,161 | $155,406 |
| 2020 8 |
2019I | |
|---|---|---|
| Grants to institutions | ||
| The 4814Trust | 125,000 | 150,000 |
| The 4814Trust | $125,000 | 3150,000 |
| 2020 | 2019 |
|---|---|
| 8 | |
| 560 | 560 |
| 6, | GOVERNANCE COSTS | GOVERNANCE COSTS | 2020 | 2019 |
|---|---|---|---|---|
| 8 | ||||
| Travelling expenses | ||||
| Accountancy fees |
600 | 500 | ||
| Audit fee | 4,168 | 2,308 | ||
| Registered officefee | 540 | |||
| f4,768 | 83,348 | |||
| 7. | INVESTMENTS | 2020 | 2019 | |
| Investments at market |
value | 5,708,721 | 5,459,413 | |
| AnalysB ofmovement | on investments | |||
| At market value atbeginning ofyear | 5,459,413 | 4,430,079 | ||
| Additions at cost |
1,017,427 | 896,707 | ||
| Disposal s | (1,049,913) | (558,225) | ||
| Net gain on revaluation | 281,794 | 690,852 | ||
| At end ofyear | %5,708,721 | $5,459,413 | ||
| Historical costofinvestments | 84,943,406 | 64,989,934 | ||
| 8. | DEBTORS | 2020 | 2019 | |
| Investment management |
fcerebate due | |||
| Income tax recoverable | 1,909 | 606 | ||
| 1,909 | ||||
| 9. | ACCRUALS FALLING DUE WITHIN ONE YEAR | 2020 | 2019 | |
| 8 | ||||
| Accrued expenses | 4,380 | 4,420 | ||
| Grants payable | 125,000 | 150,000 | ||
| Expenses paid by the 4814Trust | 4,780 | 4,420 | ||
| 134,160 | 158,840 |
| ANALYSIS OFFUND | ANALYSIS OFFUND | BALANCES | 2020 | 2019 | |||
|---|---|---|---|---|---|---|---|
| 8 | 8 | ||||||
| Summary | |||||||
| Sum contributed to fund |
at commcnccmcnt | in | 1948 | 43,100 | 43,100 | ||
| Additional | contribution | in 1956 | 737 | 737 | |||
| Permanent | Endowment | fund brought forward | and canied forward | 43,837 | 43,837 | ||
| Unrestricted | funds brought forward | 5,521,429 | 4,871.561 | ||||
| Income | 129,161 | 155,406 | |||||
| Expenditure | (173,982) | (196,390) | |||||
| Net gains on investments | 281,794 | 690,852 | |||||
| Unrestricted | funds cani | ed forward | 5,758,402 | 5.521,429 | |||
| Total funds | 85,802239 | $5,565,266 | |||||
| Permanent | Unrestricted | Total | |||||
| Endowment | Funds | Funds | |||||
| Fund | |||||||
| Analysis by balance sheet category |
8 | 8 | |||||
| Investments | 43,837 | 5,664,884 | 5,708,721 | ||||
| Net current | assets | 93,518 | 93,518 | ||||
| Balance at | 31December | 2020 | &l3,837 | 55,758,402 | 85,802,239 | ||
| Balance at | 31 December | 2019 | &13,837 | 55,521,429 | 85,565366 |