##
|Trustees||Mr J P May||
|---|---|---|---|
|||Mr J M Hulse||
|||Mr N QAbell||
|Charity number||286838||
|Principal address||27 Widney
Road||
|||Knowle||
|||Solihull||
|||West Midlands||
|||B939DX||
|Auditor||Burgis &, Bullock||
|||23-25 Waterloo|Place|
|||Warwick Street||
|||Leamington
Spa||
|||Warwickshire||
|||CV32 SLA||
|Bankers||Handelsbanken||
|||Kings House||
|||Elm Court||
|||Arden Street||
|||Stratford
Upon|Avan|
|||CV37 6PA||
|Solicitors||Wright
Hassall|LLP|
|||Olympus
Avenue||
|||Leamington
Spa||
|||Warwickshire||
|||CV34 6BF||
|Investment|advisors|EFG Harris Allday||
|||33Great Charles Street||
|||Birmingham||
|||B33JN||
##
||||Page|
|---|---|---|---|
|Trustees' report|||1-4|
|Statement of|trustees'|responsibilities||
|Independent|auditor's|report||
|Statement of|financial|activities|10|
|Balance sheet||||
|Statement of|cash flows||12|
|Notes to the financial||statements|13-22|
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|||||||Notes|f|f|
|Fixed assets|||||||||
|Investment||properties||||10|3,787,000|3,022,000|
|Investments||||||11|29,695,446|24,340,319|
||||||||33,482,446|27,362,319|
|Current assets|||||||||
|Debtors|||||||105,326|35,657|
|Cash at bank|||and in|hand|||921,427|1,057,134|
||||||||1,026,753|1,092,791|
|Creditors:|amounts|||falling due within|||||
|one year||||||14|(1,003,456)|(974,455)|
|Net current||assets|||||23,297|118,336|
|Total assets||less current|||liabilities||33,505,743|27,480,655|
|Creditors:|amounts|||falling due after|||||
|more than|one year|||||15|(1,487,541)|(1,586,184)|
|Net assets|||||||32,018,202|25,894,471|
|Income funds|||||||||
|Unrestricted|||funds||||32,018,202|25,894,471|
||||||||32,018,202|25,894,471|
|The fi|ial||statements||were approved|by the|Trustees on ....(.....&'............"~L||
|MrJ P
ay|||||||J M Hulse||
|Truste|||||||||
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||||2021|2020|
|---|---|---|---|---|
|||Notes|E||
|Cash flows from operating|activities||||
|Cash absorbed
by operations||17|(1,444,562)|(1,200,288)|
|Investing
activities|||||
|Purchase ofinvestment
property|||(200,368)||
|Purchase ofother investments|||(5,080,662)|(4,814,638)|
|Proceeds on disposal ofother|||||
|investments|||5,471,338|4,814,637|
|Investment
income received|||1,118,547|1,187,984|
|Net cash generated
from|investing||||
|activities|||1,308,855|1,187,983|
|Net cash used in financing|activities||||
|Net decrease in cash and|cash equivalents||(135,707)|(12,305)|
|Cash and cash equivalents|at beginning|ofyear|1,057,134|1,069,439|
|Cash and cash equivalents|at end ofyear||921,427|1,057,134|
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||||2021|2020|
|---|---|---|---|---|
||||f|f|
||Rental income||255,718|264,872|
||Dividends|and interest from listed investments|862,559|922,549|
||Interest receivable||270|563|
||||1,118,547|1,187,984|
|4|Cost:of raising funds||||
||||2021|2020|
||||f|f|
||Investment|management|22,851|21,075|
||||22,851|21,075|
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|||Other costs|Grants|Total|Total|
|---|---|---|---|---|---|
||||payable|2021|2020|
|||f||f|f.|
|Grant funding|ofactivities (see note 6)||1,252,883|1,252,883|257,649|
|Governance|costs|29,518||29,518|27,772|
|||29,518|1,252,883|1,282,401|285,421|
##
||2021|2020|
|---|---|---|
||f|f|
|Grants to:|||
|Newcastle
University|25,000|25,000|
|C.E.I.F|715,023||
|University of Reading|25,000||
|Harper Adams|25,000|25,000|
|Studley College|30,000|30,000|
|Hartpury
College|250,000||
|Nuffield
Farming Scholarship|30,000||
|Other Grants
&f25,000|161,685|177,649|
||1,252,883|257,649|
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|---|---|---|---|
|Grants|payable||(Continued)|
||||2021|
||||f|
|Grants|committed|as at 01April 2020|2,507,079|
|Grants|paid in year||(1,356,900)|
|New grants commited|||1,252,883|
|Grant|commitment|as at 31March 2021|2,403,062|
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|||||2021|2020|
|---|---|---|---|---|---|
|||||Number|Number|
|Total||||||
|Net gains/(losses)||on investments||||
|||||2021|2020|
|||||f|E|
|Revaluation|ofinvestments|||5,213,707|(2,204,758)|
|Gain/(loss)|on sale|ofinvestments||532,096|23,858|
|Revaluation|ofinvestment||properties|564,632||
|||||6,310,435|(2,180,900)|
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|||||2021|
|---|---|---|---|---|
|||||f|
|Fair value|||||
|At 1April|2020|||3,022,000|
|Additions|through|external|acquisition|200,368|
|Net gains|or losses|through|fair value adjustments|564,632|
|At 31March 2021||||3,787,000|
##
||Listed|Unlisted|Cash in|Total|
|---|---|---|---|---|
||investments|investments|portfolio||
||f|f|||
|Cost or valuation|||||
|At 1April 2020|23,749,884|4,500|585,935|24,340,319|
|Additions|5,080,662|||5,080,662|
|Valuation
changes|5,213,707|||5,213,707|
|Cash movement|||(478,217)|(478,217)|
|Disposals|(4,461,025)|||(4,461,025)|
|At 31March 2021|29,583,228|4,500|107,718|29,695,446|
|Carrying amount|||||
|At 31March 2021|29,583,228|4,500|107,718|29,695,446|
|At 31March 2020|23,749,884|4,500|585,935|24,340,319|
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|12|Financial|instruments||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||f|f|
||Carrying|amount offinancial|assets|||||
||instruments
measured
at fair value through||||profit or loss|29,583,228|23,754,384|
||Carrying|amount offinancial|liabilities|||||
||Measured|at fair value through|profit|Qi' loss||||
||-Other financial
liabilities|||||2,403,061|2,517,078|
|13|Debtors|||||||
|||||||2021|2020|
||Amounts|falling due within one year:||||f|f|
||Other debtors|||||50,326|8,324|
||Prepayments
and accrued income|||||40,000|7,333|
|||||||90,326|15,657|
|||||||2021|2020|
||Amounts|falling due after more than||one year:||f|f|
||Prepayments
and accrued income|||||15,000|20,000|
||Total debtors|||||105,326|35,657|
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|14|Creditors: amounts|falling due within one year||||
|---|---|---|---|---|---|
|||||2021|2020|
||||Notes|f||
||Other taxation|||8,223|10,467|
||Deferred income||16|52,028|22,490|
||Trade creditors|||15,170|360|
||Other creditors|||915,521|920,895|
||Accruals|||12,514|20,243|
|||||1,003,456|974,455|
|15|Creditors: amounts|falling due after more than one year||||
|||||2021|2020|
|||||f|f|
||Other creditors|||1,487,541|1,586,184|
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||||f|
|Arising|from|rental|income|invoiced|in|||
|advance||||||52,028|22,490|
##
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|---|---|---|---|---|---|---|---|---|---|
|17|Cash generated
from operations|||||||2021|2020|
|||||||||f|f|
||Surplus/(deficit)
for|the year||||||6,123,730|(1,299,412)|
||Adjustments
for:|||||||||
||Investment
income|recognised|in statement|||offinancial|activities|(1,118,547)|(1,187,984)|
||Gain on disposal of|investments||||||(532,096)|(23,858)|
||Fair value gains and|losses on investment|||properties|||(564,632)||
||Fair value gains and|losses on investments||||||(5,213,707)|2,204,758|
||Movements
in working capital:|||||||||
||(Increase)/decrease|in debtors||||||(69,669)|39,387|
||(Decrease)
in creditors|||||||(99,179)|(888,504)|
||Increase/(decrease)|in deferred||income||||29,538|(44,675)|
||Cash absorbed
by operations|||||||(1,444,562)|(1,200,288)|
|18|Analysis ofchanges|in net: funds||||||||
||The charitable
trust|had no debt||during the||year.||||