2021-03-31-accounts - Howard Watson Symington Memorial Charity

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

for the year ended		31M	arch 2021
					General	Designated	Endowment	Total	Total
					Fund	Fund	Fund	2021	2020
				Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies					100			100
Investments:
Investment portfolio					74,242			74,242	86,670
Total income and endowments					74,342			74,342	86,670
EXPENDITURE ON:
Raising funds:
Investtnent management		charges					5,291	5,291	5,554
Charitable activities:
Costs in furtherance ofcharitable			activities		47,616			47,616	59,305
Total expenditure					47,616		5,291	52,907	64,859
Net income/(expenditure)		before
gains/(losses) on investments					26,726		(5,291)	21,435	21,811
GAINS/(LOSSES):
On investment portfolio:
Realised							10,175	10,175	1,060
Unrealised							449,384	449,384	(175,087)
Net income/(expenditure)		before transfers			26,726		454,268	480,994	(152,216)
Net transfers between	funds				15,595	(15,595)
Net income and net movement			in funds		42,321	(15,595)	454,268	480,994	(152,216)
Total funds brought forward					68,675	19,025	2,150,499	2,238,199	2,390,415
Total funds carried forward					110,996	3,430	2,604,767	2,719,193	2,238,199

As at 31Mar	ch 2021
				2021	2020
			Note
Fixed Assets
Investments				2,607,571		2,153,229
Current Assets
Cash at bank	and in hand:
Current accounts				119,404	89,792
Petty cash					125
				119,404	89,917
Creditors: Falling due within		one year	8	7,782	4,947
Net Current Assets				111,622		84,970
Net Assets				2,719,193		2,238,199
Funds
Unrestricted funds
General fund				110,996		68,675
Designated fund				3,430		19,025
				114,426		87,700
Restricted funds
Endowment	Fund			2,604,767		2,150,499
Total Funds				2,719,193		2,238,199

r	the year ended 31Marc	the year ended 31Marc	h 2021	h 2021	h 2021
2	Income from Investments:		Investment portfolio						2021	2020
	Dividends &interest receivable		from COIF Collective Investments:
	Charities Fixed Interest								3,670	3,670
	Charities Investment	Fund							16,333	16,012
	Global Equity Fund								17,783	17,437
	Charities Property Fund								4,974	6,122
	Dividends &interest receivable		from other Collective Investments:
	Bond funds								4,885	4,953
	UK Equity Funds								9,191	17,801
	International Equity Funds								11,977	12,548
	Multi-Asset Funds								1,193	2,478
	Alternatives								4,236	5,633
	Interest on cash awaiting	investment								16
									74,242	86,670
	Incoming resources from investments			held as part ofthe endowment		fund are unrestricted.
3	Costs in furtherance	ofcharitable			activities
	Funded from the General	Fund							2021	2020
	Grants payable:
	To institutions								26,982	52,397
	To individuals								18,012	4,608
									44,994	57,005
	Other direct costs ofcharitable		activities:
	Website design and maintenance		costs						516	500
	Other Promotional Costs								252
	Governance costs (Note 4)								1,854	1,800
									47,616	59,305
	Grants payable are analysed	as follows:
	Grants to institutions for	the purpose ofsocial welfare, recreation							2021	2020
	and other leisure time activities.
	Institution				Purpose ofGrant
	Harborough Conununity Bus				Replace disability		equipped minibus		15,000
	RFM Studios CIC				Cost ofmusic equipment			for music studios	4,000
	Robert Smyth Academy				Food, nutrition	and IT equipment			2,832
	Market Harborough Sea Cadets				Purchase of7 stand-up			paddleboards	2,450
									24,282	48,074
	Others each f2,000 or less				Various - 4 in total		(2020: 8)		2,700	7,018
									26,982	55,092

r	the year	ended 31	ended 31	Ma	rch 2021
3	Costs ia	furtherance		of	charitable	activities		(continued)			2021	2020
	Grants to	individuals for		the	purpose of:
	Coronavirus		pandemic support				31	Individuals	(2020:	1)	3,000	100
	Relief ofpersons in need, hardship or distress						12	Individuals	(2020:	1)	8,741	200
	Supporting		educational and	sporting needs			8	Individuals	(2020:	8)	6,271	4,308
											18,012	4,608
4	Analysis		and allocation		ofsupports		costs
	Governance		costs represent	the only support			costs incurred by the		charity	and are allocated		entirely to the Cost o
	Charitable	Activities on the		basis on time spent, They				comprise the	following;
											2021	2020
	Fees payable		for Independent		Examination						1,854	1,800
											1,854	1,800

Fixed Asset Investments
Movements in the listed investment	portfolio are as follows;	31-Mar-21	31-Mar-20
Market value at the beginning ofthe	year	2,153,229	2,327,762
Acquisitions at cost		235,976	40,688
Sales proceeds from disposals		(245,900)	(41,194)
Realised gains/(losses) on disposals		10,175	1,060
Unrealised gains/(losses) on revaluation		449,384	(175,087)
		2,602,864	2,153,229
Cash at bank on deposit/awaiting investment		4,707
Market value at the end ofthe year		2,607,571	2,153,229
Historical cost at the end ofthe year		2,239,864	2,285,237