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2022-03-31-accounts

Page
Trustees Report
Independent
Examiners		 Report
Statement offinancial activity
Balance sheet
Notes to the accounts

Trustees Appointed
by		 Date ofRetirement
R H Crosher Trust Deed
SCrosher Trust Deed
J Guest The Chairman
of Greene		 King 29Sep23
D Youngman Thales Optronics 9Jan 24
K Honeyman Co-opted
by the Trustees		 20 May 23
A Bonnett Chamber of Commerce 24 Sep 21
D Langley Co-opted
by the Trustees		 29 Sep 23

Unrestricted Endowment Total Total
funds funds 2021/22 2020/21
Notes
Income &Endowments from
Donations &legacies
Investment
Income
Dividends
receivable		 17,743 17,743 9,845
Interest receivable(gross)
Quoted Investments 27,995 27,995 33,063
High Interest Cheque Account 28
COIF 13 13
Investec Client Account
Total incoming resources 45,755 45,755 42,973
Ex enditure
on		 lc
Raising funds
Portfojio management fees ]0,682 10,682 9,475
Charitable Pro'ects and Grants
Education 34,450 34,450 31,442
Training
Secretarial costs and disbursements 7,775 7,775 6,956
Independent
examiners		 fee 1,152 1,152 ],080
43,377 43,377 39,477
Total resources expended 43,377 10,682 54,059 48,953
Net income/(expenditure)before
gains/(losses)
on investments		 2,378 (10,682) (8,304) (5,980)
Net gains/(losses)
on investment		 assets 118,474 I ]8,474 357,319
Net movements
in funds		 2,378 107,792 110,170 351,339
Total Funds brought
forward		 22,668 2,047,696 2,070,364 1,719,025
Total Funds carried forward 25,046 2,155,488 2,180,534 2,070,364

Unrestricted Endowment Total Total
funds funds 2022 2021
Notes
Fixed assets
Investments la&2 1,991,014 1,991,014 1,869,671
Current
assets
Debtor
—Interest		 receivable 2,401 2,401 3,358
Cash at bank and in hand 23,797 164,474 188,271 198,421
Total current assets 26,198 164,474 190,672 201,779
Creditors 1,152 1,152 1,086
Net current assets 25,046 164,474 189,520 200,693
Net assets 25,046 2,155,488 2,180,534 2,070,364
The funds ofthe charity
Endowment funds 2,155,488 2,155,488 2,047,696
Unrestricted income funds 25,046 25,046 22,668
Total funds 25,046 2,155,488 2,180,534 2,070,364

2 Investments
2022 2021
Endowment
Fund
Original
endowment
361,400 The Vitec Group Plc shares,
value at date oftransfer to the trust (292p) 1,055,288 ],055,288
Overall increase in value to 31March (realised and unrealised) 952,642 599,180
Less sales undertaken
in previous
years		 (3,463,852) (3,318,689)
Add purchases
undertaken
in previous		 years 3,325,593 3,067,781
1,869,671 1,403,560
Less sale ofshares (325,143) (149,020)
Profit/(loss)
on sale ofshares		 15,834 3,857
1,560,362 1,258,397
Investments
purchased
(adjusted for accrued interest)		 328,012 257,812
Change in value at 31 March 102,640 353,462
Investment
value at 31March 2022		 1,991,014 1,869,671
A detailed investment
schedule is on page 10
Th
Woliam
ED n Vin en Tru		 S edule edule edule fInvestme fInvestme fInvestme fInvestme h I
Mid Market Unrealrsed Mtd Market
Nominal
Holding		 Value Addxions Date Reslisatlons movement Value Income
28,600
A2D Funding
Pic 475%Bds 18/10/22
18,750
21,250
IAberdeen
Stan Eurp Log Ord GBP0.01
erdcan Stan Eurp Log Ord GBP0.01		 I Apr21
30,082J
——
———..——J		 21,922
23,660		 2 Jun
2 Feb		 21'
22,		 Proceeds Gain/(Loss) tn value
(1,023)I
(1,682)
'		 31 Mar 22
Drvldends
"":"L
1,073.881
—j
43,900,)		 Interest
1,358.501
IAsianz Gib invest
Gilt yield
I Inc
35,000
Asianz Gib tnvest strategic band
I inc
45,000,		 r 68,712
58,284		 I
I		 110
170
I		 -- (3,834T)
&'5,941)t		 64,7SS
',
52 173)		 258.44
—--—
I
957.78		 110
170
ss,ooo
j
AXA Investment
Man US Sht Dur High Yield Bd		 31,8220 (1,001} 30,821 I 1,312.09 I
27,000
i
BMO Fund Mgmt		 51,624 16Feb 22 1 52,137 '
100
'CG Parlfolto Fd Real Return
A GBP Sett		 19,787.L 1,174(, 20,961 ' 300 471
20,00$Canadian
Imp Bank Idx/Lkd Snr 23/10/25
20,000 ICanadian
imp Bank 5.4% FTSE/S&P ACall		 22,314
19,191,		 R 965
285		 '
I		 23,279
19,476		 1,060.00i
25,000
)Ctugroup
Gib Mkts 5.57%FTSE		 t 26,318J 26,183 1,392.50
39,334 Enquest Pic7%Snr Emtn 15/2/23
..I		 1 33,184 I 6590 j 2'753 381
20,000
15,000
Fundrock
Plnrs Ltd Fp Wheb Suet
Fundrock
Ptnrs Ltd Fp Wheb Suet		 40,920 I 29,982 [5
16Feb		 22J 2,241 I 73,143 i 159.80 (29,982)
43,910
3,377
JGreencaat
UK Wtnd Ord GBP 0.01
IGreencaet
UK Wind Ord GBP0.02		 56,512 i 4,458 I 11,095 72,065 3,213.34
i—		 i (4,458)
1,8 0
Henderson
Opp Trust		 25,253
(675)
Henderson
Opp Trust		 10,296 L
(iss) 5 May 21 2,509
(405)
IIHendersan
Opp Trust		 6 May 21l 6,187 i
&so
)
anderson
Opp Trust		 7 May 1
21(		 9,247 J 2,986
I
———
20,647
IHICL Infrastructure
Ord
I		 34.068, ~ 2,704 i 36,772 1,703.38,
iHipgnoeis
Songs Fu Ord Npv
20,000
20,000
Hipgnosis
Songs Fu Ord Npv		 25 050 I 23,409 16Feb 22 (219), 48,240 1,312 SO (23,409)
Impax Funds (Ire) Environmental
Mkts
INT Public Partner Ord		 71,280
i
t
43,384		 4,590
1,343		 i
ii		 75,870
44,727		 73.08+
1,927.59 t
10,000J n
temational
Pere 7.75'y Gtd Snr 14/12/23		 GBP 123 10,073 .I 775.00'
vesco Fd Mngrs Invesco Corp Bond UK D Dis
21,387		 J 43,465t I 1,181.46 i 43,465
(21,38 )tt
Invesco Fd Mngrs Invssco Corp Band UK D Dts		 2 Nav 21 I (1,252)'
I
r		 ilehares
8 Pic
12,500
~KKV SecLoan C L D
KKV SecLoan FD8
40,000
JP Morgan Am UK Ltd
59,991 J
upiter UT Mngrs, Strategic Band 2Inc
J.		 274
I
7
23,376
j
t——
39,414
(		 71,872; 16 Nov 21 ' 338
4+98		 I 64
(284)		 t
i		 (3,028)
(2,232)		 I
i		 68,844
25,812
37,182		 )
i		 157.50I-I
568.00
i
1,521.12i		 1
-+———
'		 274
782
Jupiter UT Mngrs,
UK Special Situatians
19,287		 I 18,874 i,eso ' 20,324 395.29
L 10'300
Ladbrokes
Grp Fi, 5.125% 16/09/22		 t (408) 10,393 I
50,00
Legal &General
UT L&G High Inc Trust (I)		 Ore (2,375) 21,260
11,95
Link Fund Manager Trojan Ireland 0GBP Dis		 2,099 ', 18,920 (
20,000,Lloyds Bank Pic 7625 Mtn
04/25
19,300
(19,3Q
London Stock Exchange 4.75% Min 2/11/21
Landon Stock Exchange 4.75'%%d Mtn 2/11/21
23,615(
M&G Securities
Ltd Gbl ooating Rats High		 24,946
19,767i
22,873		 j 3 Nov21 19,300 I (467) j (2,372)j 22,574
i
. .J
22,779
I		 983.78i 1,525.20 19,767
365
4,000
16,650
IMaitland
Instl Svc Ml Twentyfour
Am Dyn Bd
IJupiter AM(EURope)
UK Dynamic
Equite
'Morgan
Stanley BV543%FTSE Supertracker 25		 23,402
19,271		 L t (3,080) 38,797
20,322
26,610		 1,S98.OTt
125.46
20,000 IMorgan
Stanley BV5.21%FTSE inc Aces 27		 18,998, I 1,042.00 18,998
(20,000
i
Morgan Stanley BV5.21'/ FTSE Inc Acall 27		 —
—---l—		 15 Feb 22' 2O,OOO I 1,002 I
250 (Oaktrea (Lux) Fds / Fundrack
Mgmt Co		 23,520
i		 (1,125) I 22,395 1,087.23
i
15,000
I aragon Banking Gp 6%Snr Emtn 28/8/24		 IS,SSSt 16,103 I 900.00
43,000
IPrctan Property
Income Ord NPV		 37,045
'		 5,396 1,451.25
20,000
,
'Premier
Oil 6.5% Gtd (31/05/21)		 I8,850) 19,327 477 392.00,' 18,850
( (20,000 Canverled
to Harbour Energy		 J.
666 I,
Premier
Oil Equity Wt 31/5/22/
Harbour
Energy		 U)
15,000
'Cooperatieve
Rabob
4'%%d Snr Min 19/9/22
Scat Marl Inv Tst Ord GBP0.05		 j
u		 I5,789 (621)
(3.330)		 15,168
30,780		 104.70 600.00i
17,301
i
Sequoia Economic
I NPV		 18,028
i		 (312) 2r
17,71+6
20,000
Schroder Unit Tst Gbl Cities Real Estate		 17,156 20,680 i
L 769
ISQN Asset Finance C Shs Npv		 83
3,985
'SQN Asset Finance,
Ord Npv		 351 351 i
12,500 I
Twentyfour
income Ord Red GBP001		 13,594 (250) 13,344 SO1.2S
28,000
I
12,750
'
UK Govt 0.125%I/L Grit 22/03/29
UK Govt 0.125%,I/L Gilt 22/03I29
J		 I
43,604'		 20,177 ' TApr21 3,939 67,720 I
I		 66.80
UK Govt 0.125%Idx Lkd 22/03/24
60,343 I
45,000
(45,000
UK Govt 0.125%Idx Lkd 22/11/36
———+-		 60,291t I
7		 Aprgtr
Apr 21		 59887 (456) 63,213 000
50.90',		 60,343
UK Govt 1.25% Idx-Lkd 22/1 1/27 44,58 0.00I 44,581
&22.500)IUK Govt 1.25% Idx-Lkd 22/11/27
15,000
'
UK Govt 2'y
I/L Stk 26/1/35
7,000t
UK Govt 2% I/L Stk 26/1/35
UK Govt 2.25% Gilt 07/09/23
30,00D
j		 43,308
j
'r
31,571		 20,617 j 7 I
pr22		 44,236 I &345)i 2,574
7
(I 188)'.		 66,499
30,383		 I 754 Ss(
675.00,
30,000
(
UK Govt 4'4 Gtd Snr Gilt 07I03/22		 1,200.00' 31,116
(30,0
)
Gom 4'/, Gtd Snr Gill 07/03/22
40,000 Vitae Group Pic Ord 20p shares		 +
456,000
i		 T 7 r
Mar 22
.
I		 30,00Dt (1,116)i 486,900, 5,760.00 45,600
(4,000)(Vrtec Group Pic Ord 20p shares 8 May 21 60,825 15,225 (
Totals 1,869,671 328,012 325,143 15,834 102640 1,991,014 30,589.15 16,010.46

The costs expended were: 2022 2021
Jabu Designs (Web site) 216 216
Retirement gift 25
Mr D Marriott 7,534 6,740
7,775 6,956
5 Creditors
2022 2 021
Ensors 1,152 1,086
1,152 1,086

Gains
/
7 Statement offunds B/Fwd Income Expend (losses) C/Fwd
Endowment
Fund		 2,047,697 (10,682) 1]8,474 2,155,488
Unrestricted
fund		 22,668 45,755 (43,377) 25,046
Total offunds 2,070,364 45,755 (54,059) 118,474 2,180,534
Corn
arative Statement		 ofFinancial Activities b fund
Unrestricted Endowment Total
funds funds funds
Income and endowments from
Dividends
receivable		 9,845 9,845
Interest receivable (gross) 33,128 33,128
42,973 42,973
Expenditure
on
Raising funds 9,475 9,475
Charitable
activities		 39,477 39,477
39,477 9,475 48,952
Net Income (expenditure) before
gains/(losses)
on investments		 3,496 (9,475) (5,979)
Net gains/(losses) on investment assets 357,319 357,319
Net movement
in		 funds 3,496 347,844 351,340