2021-12-31-accounts - The A B Grace Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.


Trustees' Report
Independent	Examiner's	Report
Statement of	Financial	Activities
Balance Sheet
Notes to the	Financial Statements

			Restricted	Permanent
			Income	Endowment	2021	2020
			Fund	Fund	Total	Total
		Note
Incoming Resources Investment income		2	43,166		43,166	38,867
Bank interest (gross)						21
Profit/(Loss) on sale or revaluation of investments				90,022	90,022	(40,261)
Total Incoming Resources			43,166	90,022	133,188	(1,373)
Charitable expenditure Management and administration		4	1,980	12,466	14,446	14,055
Chadtable distributions		3	37,000		37,000	24,000
Total Resources Expended			38,980	12,466	51,446	38,055
Net Incoming/(Outgoing)	Resources		4,186	77,556	81,742	(39,428)
Fund balances brought	forward		37,040	1,189,949	1,226,989	1,266,417
Fund balances carried	forward		41,226	1,267,505	1,308,731	1,226,989

			Restricted	Permanent
			Income	Endowment	2021	2020
			Fund	Fund	Total	Total
		Note
Fixed assets
Investments	at Market Value			1,252,337	1,252,337	1,163,317
Current assets
Investec Dealing Account Cash at Bank			7,424 45,253	11,248 4,520	18,672 49,773	33,957 30,755
Debtors			1,229		1,229	1,300
			53,906	15,768	69,674	66,012
Creditors
Rushions			(1,980)	(600)	(2,580)	(2,340)
St Peter's Parish Church			(8,300)		(8,300)
RSPB			(2,400)		(2,400)
Net current assets			41,226	15,168	56,394	63,672
Net assets			41,226	1,267,505	1,308,731	1,226,989
Funds			41,226	1,267,505	1,308,731	1,226,989

							2021	2020
2	INVESTMENT INCOME
Fixed Interest Stocks							2,003	1,749
Indexed Linked Stocks							878	931
Ordinary Shares							21,961	20,151
	Unit Trusts						18,324	16,036
							43,166	38,867
3	DISTRIBUTIONS
St. Mary's &St. Michael's		Church, Bonds					3,700	2,400
St Helen's Church, Churchtown							3,700	2,400
	United Reformed Church,	Garstang					3,700	2,400
Guide Dogs for the Blind RSPCA							3,700 3,700	2,400 2,400
	St Peter's Church, Scorton						3,700	2,400
	RNLI RSPe						3,700 3,700	2,400 2,400
	Christ Church, Over Wyresdale						3,700	2,400
	Leonard Cheshire Disability						3,700	2,400
							37,000	24,000
4	MANAGEMENT AND ADMINISTRATION					EXPENSES
	Income Fund Expenses:
	Rushtons —Accountancy Independent	&Taxation Examination		Charges Fee		&	1,980	1,860
	Capital Fund Expenses: Rushtons						600	1,200
	Investec Wealth & Investment		Management		Charge		11,866	10,995
	Linder Myers —Legal Charges
							12,466	12,195
	TOTAL EXPENDITURE						14,446	14,055

		At 1 January	2021		Additions	Dieposals	Dieposals		At 31	December	2021
							ProSt/(Loss)
	No of			No Of		No of		On Sale	No of			Dividend
	Sharesl		Market	Sharesl		Sheres/		Or	Sharesl		Market	Interestl
	Units	Cost	Value	Units	Cost	Units	Proceeds	Revaluation	Units	Cost	Value	PID's
Fixed interest Stocks
Barclays Bank 6.3%FTSEincome
Autocall2026	17,800	17,662	17,675					287	17,800	17,662	17,962	1,121
HSBC Bank 5.8%FTSEIncome
Autocall2025	15,200	14,876	15,215					538	15,200	14,876	15,753	882
		32,538	32,890					825		32,538	33,715	2,003
Index Linked Stocks
National Grid 1.25% Index Linked
Stock 2022	25,000	25,792	31,650			25,000	31,992	342				324
Treasury 1.875% Index Linked
Stock2022	20,000	29,490	31,360					993	20,000	29,490	32,353	554
		55,282	63,010				31,992	1,335		29,490	32,353	878

5. INVESTMENTS AND INCOME (continued)	5. INVESTMENTS AND INCOME (continued)	5. INVESTMENTS AND INCOME (continued)	5. INVESTMENTS AND INCOME (continued)
					At 1 January		2021	Additions		Disposals			At 31	December 2021
				No of				No of		No of	Profit/(Loss)		No of			Dividend
				Sharesl		Market		Sheres/		Sharesl		On Sale Or	Sharesl		Market	Interest
				Units	Cost		Value	Units	Cost	Units	ProceedsRevaluation		Units	Cost	Value	IPID's
					6		6		6		6	E		6
Ordinary Shares
Aberforth Smaller		Companies		1,770	19,046		22,018					3,859	1,770	19,046	25,877	599
BBHealthcare Trust				9,475	13,111		16,837					2,160	9,475	13,111	18,997	523
British American		Tobacco		225	11,274		6,213					56	225	11,274	6,269	482
BHP Billiton				755	14,006		14,544					2,060	755	14,006	16,604	1,641
BlackRock American				30,800	34,609		51,651			30,800	57,868	6,217				1,848
BurBerry Group				500	6,777		8,969			500	9,511	542				213
Civitas Social Housing				19,090	19,125		20,025			19,090	19,436	(589)				780
Compass Group				675	9,119		9,217					1,926	675	9,119	11,143
Diageo				415	11,475		11,969					4,781	415	11,475	16,750	301
Expedan Group				890	8,519		24,742					7,587	890	8,519	32,329	305
GlaxoSmithKilne				870	14,657		11,842					2,302	870	14,657	14,144	696
Hipgnosis Songs		Fund		20,000	23,506		24,760					300	20,000	23,506	25,060	1,050
HSBC Holdings				2,470	17,555		9,341					1,740	2,470	17,555	11,081	393
International Public Partnership				37,125	47,962		63,149					(111)	37,125	47,962	63,038	2,770
Imperial Brands				270	10,007		4,147					220	270	10,007	4,367	374
Jackson Financial								28	554	28	522	(32)
JPMorgan Global		Emerging
Markets Income	Trust							7,200	11,259			(729)	7,200	11,259	10,530	295
Polar Capital Global Financials				13,200	13,565		18,612					4,224	13,200	13,565	22,836	581
Prudential				1,135	13,053		15,308					(840)	1,135	13,053	14,468	686
Relx				535	10,089		9,591					3,249	535	10,089	12,840	255
Rio Tinto				460	13,918		25,180					(2,676)	460	13,918	22,504	3,187
Schroders Voting		Ordinary	shares	375	9,601		12,540					808	375	9,601	13,348	435
SDCL Energy efficiency				23,700	23,735		25,287					2,442	23,700	23,735	27,729	1,318
Smith &Nephew				425	7,043		6,418					(927)	425	7,043	5,491	115
Target Healthcare		REIT		34,950	35,335		39,773			19,500	22,555	1,013	15,450	15,621	18,231	1,040
Twenty-Four Income Fund								22,885	25,393			868	22,885	25,393	26,261
Urban &Civic				4,359	9,843		15,008			4,359	15,039	31
UK Commercial	Property Trust			32,689	24,062		22,588					1,880	32,689	24,062	24,468	956
Unilever				430	12,000		18,913					(1,948)	430	12,000	16,965	635
Vodafone Group				6,185	12,511		7,723					(550)	6,185	12,511	7,173	483
					445,503	516,365			37,206		124,931	39,863		392,087	468,503	21,961

			NOTES	NOTES	TO THE	ACCOUNTS	FOR THE	YEAR ENDED 31 DECEMBER 2021	YEAR ENDED 31 DECEMBER 2021	YEAR ENDED 31 DECEMBER 2021	YEAR ENDED 31 DECEMBER 2021
5. INVESTMENTS AND INCOME (continued)
			At 1 January		2021	Additions		Disposals				At 31	December 2021
		No of				No of		No of		Profitl(Loss)		No of			Dividendsl
		Sharesl		Market		Sharesl		Sharesl			On Sale or	Sharesl		Market	Interest
		Units	Cost 8		Value 8	Units	Cost E	Units	Proceeds E	Revaluation E		Units	Cost	Value	P.I.D'sf
Unit Trusts
Aberdeen Standard ASI European
Equity Fund		34,450	28,379		34,615						4,486	34,450	28,379	39,101	1,054
Aberdeen Standard ASI Global
Index Linked Bond Fund		53,595	30,110		33,389						1,067	53,595	30,110	34,456	402
Aviva US Equity Income Fund Axa Framlington UK Mid Cap Fund		23,700	25,096		41,309	32,575	58,019				7,113 6,281	32,575 23,700	58,019 25,096	65,132 47,590	700 630
Axa US Short Duration High Yield Bond Fund		17,080	17,427		15,730			17,080	15,412		(318)				313
BlackRock Continental European	Fund	17,830	22,624		31,541						2,908	17,830	22,624	34,449	1,009
Eden Vance Emerging Markets
Debt Opportunities Shares						1,725	17,837				(1,077)	1,725	17,837	16,760	956
Franklin Templeton UK Mid Cap		13,225	11,395		14,269						2,461	13,225	11,395	16,730	288
Gemcap Atlantic House Defined Returns Fund						13,650	15,169				258	13,650	15,169	15,427	155
Invesco Perpetual European Equity Fund		5,995	23,393		21,000						2,122	5,995	23,393	23,122	755
JP Morgan Emerging Markets Income Fund		44,555	25,406		31,330						1,726	44,555	25,406	33,056	945
JP Morgan US Equity Income Fund KShares		30,672	24,928		36,726						9,205	30,672	24,928	45,931	807
Jupiter Strategic Bond Fund Link Morant Wright Fuji Yield Fund M & G Corporate Bond Fund		46,792 2,400 80,141	30,932 24,833 22,978		31,678 23,097 34,861						(757) 1,594 (1,426)	46,792 2,400 80,141	30,932 24,833 22,978	30,921 24,691 33,435	1,204 736 858
Oaktree Global High Yield Bond Fund		300	30,008		28,374						(15)	300	30,008	28,359	1,280
Premier UK Multi-Cap Fund Royal London Sterling Credit Fund Schroder Asian Income Fund		28,536 59,422	36,839 28,405		42,205 45,339	5,375	12,368				(296) (1,170) 1,414	5,375 28,536 59,422	12,368 36,839 28,405	12,072 41,035 46,753	204 1,410 1,512
Schroders Global Cities Real
Estate Income Fund						13,425	13,378				624	13,425	13,378	14,002	46
Sequoia Economic Infrastructure Valu-Tree Protean Capital Elder Vanguard S&P500 Fund	Fund	39,409 815	39,418 20,824		43,349 42,240	17,775	17,333 23				(827) 227 12,399	39,409 17,775 815	39,418 17,333 20,847	42,522 17,560 54,662	2,463 597
			442,995	551,052			134,127		15,412		47,999		559,695	717,766	18,324
			976,318	1,163,317			171,333		172,335		90,022		1,013,810	1,252,337	43,166
							11