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|---|---|---|---|---|
|Legal and Administrative||Information|||
|Report ofthe|Trustees|||2-5|
|Independent|Examiner's|Report|||
|Statement of|Financial|Activities for the year ended|ended 30September 2021||
|Statement of|Financial|Activities for the 11months|ended 30September 2020||
|Balance Sheet|||||
|Notes forming|part ofthe Financial Statements|||10 - 15|
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S.K.Winckless,
M.B.|
S.K.Winckless,
M.B.|E|
|---|---|---|---|---|
|SECRETARY:||D.G. M. Grist|||
|REGISTERED|CHARITY NO:|299597|||
|PRINCIPAL OFFICE:||Regatta Headquarters|||
|||Henley-on-Thames|||
|||Oxfordshire|||
|||RG9 2LY|||
|INDEPENDENT|EXAMINER:|BDO LLP|||
|||Bridgewater|House||
|||Counterslip|||
|||Bristol|||
|||BS16BX|||
|LEGAL ADVISORS:||Farrer &Co|LLP||
|||66 Lincoln's|Inn Fields||
|||London|||
|||WC2A 3LH|||
|BANKERS:||National
Westminster||pic|
|||18Market Place|||
|||Henley-on-Thames|||
|||Oxfordshire|||
|||RG9 2AP|||
|INVESTMENT|MANAGERS:|Ruffer LLP|||
|||80Victoria Street|||
|||London|||
|||SW1E5JL|||
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||||||Unrestricted|Oesignated|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|
||||||Income Fund|Capital Fund|2021|2020|
|||||Note||6|||
|Income from|||||||||
|Donations|||||1,602||1,602|2,995|
|Investment
income|||||60,646||60,646|30,183|
|Bequest|||||564||564|107,000|
|Total Income|||||62,812||62,812|140,178|
|Expenditure
on|||||||||
|Raising funds:|||||||||
|Investment
Management||Costs|||83,773||83,773|69,944|
|Charitable
Activities||||9|193,980||193,980|113,979|
|Total Expenditure|||||277,753||277,753|183,923|
|Net expenditure
before|||||(214,941)||(214,941)|(43,745)|
|Revaluations
and Investment|||Asset Disposals||||||
|Gains on Investment|assets|||10||1,091,647|1,091,647|742,234|
|Net (expenditure)/income|||||(214,941)|1,091,647|876,706|698,489|
|Net Movements
in|Funds||||(214,941)|1,091,647|876,706|698,489|
|Reconciliation
ofFunds|||||||||
|Total Funds brought|forward||||421,908|7,724,732|8,146,640|7,448,151|
|Total Funds carried forward||||13|206,967|8,816,379|9,023,346|8,146,640|
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||||Unrestricted|Designated||Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||Note|Income Fund
E|Capital Fund
f||2020|2019
K|
|Income from||||||||
|Donations|||2,995|||2,995|5,500|
|Investment
Income|||30,183|||30,183|57,056|
|Bequest|||107,000|||107,000||
|Total Income|||140,178|||140,178|62,556|
|Expenditure
on||||||||
|Raising funds:||||||||
|Investment
Management|Costs||69,944|||69,944|65,833|
|Charitable
Aclivilies||9|113,979|||113,979|213,890|
|Total Expenditure|||183,923|||183,923|279,723|
|Net expenditure
before|||(43,745)|||(43,745)|(217,167)|
|Revaluations
and Investment||Asset Disposals||||||
|Gains on Investment
assets||||742,234||742,234|220,274|
|Net (expenditure)/income|||(43,745)|742,234||698,489|3,107|
|Transfers
between funds||13||||||
|Net Movements
in Funds|||(43,745)|742,234||698,489|3,107|
|Reconciliation
ofFunds||||||||
|Total Funds brought
forward|||465,653|6,982,498||7,448,151|7,445,044|
|'Total Funds carried forward||13|421,908|7,724,732||8,146,640|7,448,151|
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|7|Donations|||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
||Donations|||1,602|2,995|
|8|Investment
Income|||||
|||||2021|2020|
|||||6|6|
||Derived From:|||||
||Investments
listed on|a recognised|Stock Exchange|60,609|27,482|
||Bank|||37|2,701|
|||||60,646|30,183|
|9|Charitable
Activities|||||
|||||2021|2020|
|||||6|6|
||Grants payable|||||
||London Youth Rowing|||100,000||
||Rowing
Foundation|||51,500|40,000|
||Warrington
Youth Rowing|||17,317|46,814|
||National
Junior Indoor Rowing Championships|||10,000|10,000|
||Oarsome Chance|||7,000|7,554|
||Runcorn
Rowing Club|||1,500||
||Regatta for the Disabled|||500||
||Stratford-upon-Avon|Boat Club|||10,000|
||Henley Rowing Club||||6,800|
||Bdtish Rowing Scholarships||||(20,531)|
|||||187,817|100,637|
||Governance
Costs|||||
||Legal fees &professional|||640|7,200|
||Auditor's fees in respect of:|||||
||Independent
examination|||4,487|4,326|
|||||5,127|11,526|
||Other costs|||||
||Promotion|||1,020|1,780|
||Sundry expenses|||16|36|
|||||1,036|1,816|
||Total Charitable
Activities|||193,980|113,979|
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|Fixed Asset||||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||6|6|
|All the investments
are|listed on a recognised||Stock Exchange|||
|Market value as at 1 October (2020: 1 November)||||6,849,077|6,549,972|
|Additions
to investments|at cost|||3,642,805|3,504,902|
|Disposal proceeds||||(3,422,476)|(3,948,031)|
|Net investments
gains||||1,091,647|742,234|
|Market value as at 30September||||8,161,053|6,849,077|
|Historical cost as at 30|September|||7,444,075|6,673,479|
|At 30September
listed|investments|comprised|the following:|||
|Index Linked
/ Fixed||||2,786,311|2,545,255|
|Equities||||3,075,288|2,202,385|
|Global||||911,968|370,067|
|Other||||1,400,223|1,728,986|
|Forward
foreign exchange||||(12,737)|2,384|
|||||8,161,053|6,849,077|
|||2021
5|2020f|
|---|---|---|---|
|Ruffer SICAV Fixed Income Z GBP Cap||1,335,988|1,789,950|
|UK (Govt Of) 0.125%|I/L 22/11/2065|672,189|393,277|
|LF Ruffer Absolute
Return C Inc||533,157|75,149|
|LF Ruffer Japanese C|Acc|473,479|420,702|
|LF Ruffer Gold C Acc|||565,420|
|Ruffer Multi Strategies|Fund Limited||412,111|
|Ruffer llliquid
Multi Strategies
Fund 2015|||393,904|
|UK (Govt Of) 0.125%|I/L 22/11/2056||362,029|
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|11|Creditors: Amounts
falling due within one year|||
|---|---|---|---|
|||2021f|2020
F|
||Creditors and Accruals|25,587|37,473|
||Reconciliation
ofgrants payable:|||
|||2021f|2020f|
||Grants payable at the start ofthe year|14,689|35,220|
||New grant commitments
charged to the SOFA in period (note 9)|187,817|100,637|
||Grants paid during the period|(202,506)|(121,168)|
||Amount
of grants payable at the end ofthe year||14,689|
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|2021|||||
|---|---|---|---|---|
|||Unrestricted|Designated||
|||Income Fund|Capital Fund|Total|
|||f|f|f|
|Balance|bfwd|421,908|7,724,732|8,146,640|
|Incoming|resources|62,812||62,812|
|Outgoing|resources|(277,753)||(277,753)|
|Gain on|investments||1,091,647|1,091,647|
|Transfers|||||
|Balance|cfwd|206,967|8,816,379|9,023,346|
|2020|||||
|||Unrestricted|Designated||
|||Income Fund|Capital Fund|Total|
||||f|f|
|Balance|bfwd|465,653|6,982,498|7,448,151|
|Incoming|resources|140,178||140,178|
|Outgoing|resources|(183,923)||(183,923)|
|Gain on|investments||742,234|742,234|
|Transfers|||||
|Balance|cfwd|421,908|7,724,732|8,146,640|
|2021|Unrestricted|||
|---|---|---|---|
||Income|Designated||
||Fund|Capital Fund|Total|
|||6|6|
|Fixed asset investments||8,816,379|8,816,379|
|Net current assets|206,967||206,967|
||206,967|8,816,379|9,023,346|
|2020|Unrestricted|||
||Income|Designated||
||Fund|Capital Fund|Total|
|||6|6|
|Fixed asset investments||7,724,732|7,724,732|
|Net current assets|421,908||421,908|
||421,908|7,724,732|8,146,640|
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