| Page | |||
|---|---|---|---|
| Report ofthe Trustees | |||
| Report ofthe Independent | Examiner | ||
| Statement ofFinancial | Activities | ||
| Balance Sheet | |||
| Notes to the Financial | Statements | 10 |
| for the year ended | 31M | arch 2022 | ||||||
|---|---|---|---|---|---|---|---|---|
| General | Designated | Endowment | Total | Total | ||||
| Fund | Fund | Fund | 2022 | 2021 | ||||
| Note | ||||||||
| INCOME AND ENDOWMENTS FROM: | ||||||||
| Donations and legacies |
100 | |||||||
| Investments: | ||||||||
| Investment portfolio |
75,024 | 75,024 | 74,242 | |||||
| Total income and endowments | 75,024 | 75,024 | 74,342 | |||||
| EXPENDITURE ON: | ||||||||
| Raising funds: | ||||||||
| Investment management |
charges | 6,148 | 6,148 | 5,291 | ||||
| Charitable activities: |
||||||||
| Costs in furtherance ofcharitable | activities | 37,020 | 37,020 | 47,616 | ||||
| Total expenditure | 37,020 | 6,148 | 43,168 | 52,907 | ||||
| Net income/(expenditure) | before | |||||||
| gains/(losses) on investments |
38,004 | (6,148) | 31,856 | 20,708 | ||||
| GAINS/(LOSSES): | ||||||||
| On investment portfolio: |
||||||||
| Realised | 6,219 | 6,219 | 10,175 | |||||
| Unrealised | 214,805 | 214,805 | 449,384 | |||||
| Net income/(expenditure) | before transfers | 38,004 | 214,876 | 252,880 | 480,267 | |||
| Net transfers between funds |
(98,320) | 98,320 | ||||||
| Net income and net movement | in funds | (60,316) | 98,320 | 214,876 | 252,880 | 480,267 | ||
| Total funds brought forward | 110,996 | 3,430 | 2,604,767 | 2,719,193 | 2,238,199 | |||
| Total funds carried forward | 50,680 | 101,750 | 2,819,643 | 2,972,073 | 2,718,466 |
| As at 31Ma | r | ch 2022 | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Note | |||||
| Fixed Assets | |||||
| Investments | 2,822,607 | 2,607,571 | |||
| Current Assets | |||||
| Cash at bank | and in hand: | ||||
| Current accounts | 163,048 | 119,404 | |||
| Petty cash | |||||
| 163,048 | 119,404 | ||||
| Creditors: Falling due within one year | 8 | 13,582 | 7,782 | ||
| Net Current Assets | 149,466 | 111,622 | |||
| Net Assets | 2,972,073 | 2,719,193 | |||
| Funds | |||||
| Unrestricted funds |
|||||
| General fund | 50,680 | 110,996 | |||
| Designated | fund | 101,750 | 3,430 | ||
| 152,430 | 114,426 | ||||
| Restricted funds | |||||
| Endowment | Fund | 2,819,643 | 2,604,767 | ||
| Total Funds | 2,972,073 | 2,719,193 |
| r | the year ended 31Marc | the year ended 31Marc | h 2022 | h 2022 | h 2022 | |||
|---|---|---|---|---|---|---|---|---|
| 2 | Income from Investments: | Investment portfolio |
2022 | 2021 | ||||
| Dividends &interest receivable |
from COIF Collective Investments: | |||||||
| Charities Fixed Interest | 2,976 | 3,670 | ||||||
| Charities Investment Fund |
16,660 | 16,333 | ||||||
| Global Equity Fund | 18,129 | 17,783 | ||||||
| Charities Property Fund | 5,356 | 4,974 | ||||||
| Dividends &interest receivable | from other Collective Investments: | |||||||
| Bond funds | 4,819 | 4,885 | ||||||
| UK Equity Funds | 6,873 | 9,191 | ||||||
| International Equity Funds |
15,252 | 11,977 | ||||||
| iVIulti-Asset Funds |
162 | 1,193 | ||||||
| Alternatives | 4,797 | 4,236 | ||||||
| Interest on cash awaiting investment |
||||||||
| 75,024 | 74,242 | |||||||
| Incoming resources f'rom investments |
held as part ofthe endowment fund are unrestricted, |
|||||||
| 3 | Costs in furtherance ofcharitable |
activities | ||||||
| Funded from the General Fund | 2022 | 2021 | ||||||
| Grants payable: | ||||||||
| To institutions | 15,145 | 26,982 | ||||||
| To individuals | 19,589 | 18,012 | ||||||
| 34,734 | 44,994 | |||||||
| Other direct costs ofcharitable | activities: | |||||||
| Website design and maintenance | costs | 486 | 516 | |||||
| Other Promotional Costs |
252 | |||||||
| Governance costs (Note 4) |
1,800 | 1,854 | ||||||
| 37,020 | 47,616 | |||||||
| Grants payable are analysed as |
follows: | |||||||
| Grants to institutions for the |
purpose of | social welfare, recreation | 2022 | 2021 | ||||
| and other leisure time activities. | ||||||||
| Institution | Purpose ofGrant | |||||||
| Voluntary Action South Leicestershire |
Befriending | scheme | 5,000 | |||||
| Homestart South Leicestershire |
Post Natal Illness project | 5,000 | ||||||
| Market Harborough Historical |
Society | Publication | ofalocal history book | 2,000 | ||||
| 12,000 | 24,282 | |||||||
| Others each less than 52,000 | Various - 3 | in total (2021:4) | 3,145 | 2,700 | ||||
| 15,145 | 26,982 |
| r | the year | ended 31March 2022 | ended 31March 2022 | ended 31March 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | Costs in | furtherance ofcharitable |
activities | (continued) | 2022 | 2021 | ||||
| Grants to | individuals | for the purpose of: | ||||||||
| Coronavirus | pandemic | support | Individuals | (2021:31) | 3,000 | |||||
| Relief ofpersons in need, hardship | or distress | 8 | Individuals | (2021:12) | 5,882 | 8,741 | ||||
| Supporting | educational | and sporting | needs | 30 | Individuals | (2021:8) | 13,707 | 6,271 | ||
| 19,589 | 18,012 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Fees | payable | for | Independent | Examination | 1,800 | 1,854 |
| 1,800 | 1,854 |
| Fixed Asset Investments | |||
|---|---|---|---|
| Movements in the listed investment |
portfolio are as follows: | 31-Mar-22 | 31-Mar-21 |
| Market value at the beginning ofthe | year | 2,602,864 | 2,153,229 |
| Acquisitions at cost |
263,951 | 235,976 | |
| Sales proceeds from disposals | (266,557) | (245,900) | |
| Realised gains/(losses) on disposals |
6,219 | 10,175 | |
| Unrealised gains/(losses) on revaluation |
214,805 | 449,384 | |
| 2,821,282 | 2,602,864 | ||
| Cash at bank on deposit/awaiting investment |
1,325 | 4,707 | |
| Market value at the end ofthe year | 2,822,607 | 2,607,571 | |
| Historical cost at the end ofthe year | 2,236,064 | 2,239,864 |
| All investments are UK listed and |
are represented | are represented | by: | 31-Mar-22 | 31-Mar-22 | 31-Mar-21 | 31-Mar-21 | |
|---|---|---|---|---|---|---|---|---|
| 0/ | ||||||||
| Managed by CCLA Investment |
Management | |||||||
| COIF UK Fixed interest fund | 103,459 | 3.67% | 111,386 | 4.27% | ||||
| COIF Investment fund |
607,446 | 21.52% | 559,186 | 21.44% | ||||
| COIF Global equity fund | 708,078 | 25.09% | 653,267 | 25.05% | ||||
| COIF Charities property fund |
124,081 | 4.40% | 107,963 | 4 14% | ||||
| Managed by Cazenove Capital |
Management | |||||||
| UK Bond funds: | ||||||||
| Schroder Sterling Corporate Bond | Fund | 41,811 | 1.48% | 68,104 | 2.61% | |||
| Schroder Strategic Credit Fund | 56,296 | 1.99% | 58,675 | 2.25% | ||||
| International Bond Funds: |
||||||||
| Federated Hermes Unconstained | Credi Fund | 16,970 | 0.60% | 0.00% | ||||
| MU Lyxor Core US TIPS (DR) UCITS ETF | 34,604 | 1.23% | 0.00% | |||||
| UK Equity funds: | ||||||||
| Charity Equity Income Fund | 92,133 | 3.26% | 115,835 | 444% | ||||
| JO Hambro UK Equity Income Fund | 0,00% | 122,070 | 4 6'8% | |||||
| Trojan Income Fund (Class S) | 87,558 | 3.10% | 0.00% | |||||
| International Equity funds: |
||||||||
| Atlas Global Infi astructure Fund |
19,806 | 0.70% | 16,461 | 0.63% | ||||
| BlackRock Euro Dynamic Fund GBP Inc |
0.00% | 20,926 | 0.80% | |||||
| Fidelity Global Dividend Fund |
123,948 | 4,39% | 117,371 | 4.50% | ||||
| HSBC FTSEAll-World Index |
65,430 | 2.32% | 66,232 | 254% | ||||
| Inveso EQQQ NASDAQ-100 UCITS ETF | 20,988 | 0.74% | 0.00% | |||||
| M&G Global Dividend Inc. Fund | 129,870 | 4.60% | 130,471 | 5 00% | ||||
| Ninety One IIIGlobal Environment | Fund | 15,823 | 0.56% | 0.00% | ||||
| Neuberger Berman US Large Value |
Fund | 31,350 | 1.11% | 0.00% | ||||
| Polar Global Insurance Fund |
20,689 | 0.73% | 17,338 | 0.66% | ||||
| Robeco BPGlobal Premiuin Equities Fund |
41,369 | 1.47% | 38,054 | 146' | ||||
| Schroder Asian Income Fund | 85,138 | 3.02% | 85,06'0 | 3.26% | ||||
| Scbroder Global Equity Income Fund | 26,935 | 0,95% | 0.00% | |||||
| Vanguard S&P500UCITS ETF |
101,967 | 3.61% | 84,327 | 3.23% | ||||
| Wellington Global Healthcare Fund |
33,869 | 1.20% | 33,156 | 127% | ||||
| Multi-Asset funds: |
||||||||
| Capita Financial Managers Trojan |
Fund | 83,715 | 2.97% | 97,781 | 3.75% | |||
| Alternative funds: |
||||||||
| Property Income Trust for Charities | 91,577 | 3,24% | 76,426 | 2.93% | ||||
| Schroder Diversified Alternative |
Fund | 25,734 | 0.91% | 22,775 | 0.87% | |||
| WisdomTree Enhanced Commodity |
UCITS ETF | 30,638 | 1.09% | 0.00% | ||||
| Cash on deposit/awaiting investment |
1,325 | 0.05% | 4,707 | 0.22% | ||||
| 2,822,607 | 100.00% | 2,607,571 | 100.00% |
| Movements in |
the fund balances are sum | marised as follows: |
|||
|---|---|---|---|---|---|
| General | Designated | Endowment | |||
| Fund | Fund | Fund | Total Funds | ||
| As at 31March 2020 | 68,675 | 19,025 | 2,150,499 | 2,238,199 | |
| Income | 74,342 | 74,342 | |||
| Expenditure | (47,616) | (5,291) | (52,907) | ||
| Gains/(losses) | on investments | 459,559 | 459,559 | ||
| Transfers | 15,595 | (15,595) | |||
| As at 31March 2021 | 110,996 | 3,430 | 2,604,767 | 2,719,193 | |
| General | Designated | Endowment | |||
| Fund | Fund | Fund | Total Funds | ||
| As at 31March 2021 | 110,996 | 3,430 | 2,604,767 | 2,719,193 | |
| Income | 75,024 | 75,024 | |||
| Expenditure | (37,020) | (6,148) | (43,168) | ||
| Gains/(losses) | on investments | 221,024 | 221,024 | ||
| Transfers | (98,320) | 98,320 | |||
| As at 31March 2022 | 50,680 | 101,750 | 2,819,643 | 2,972,073 |
| General | Designated | Endowment | ||
|---|---|---|---|---|
| Fund | Fund | Fund | Total | |
| Investments | 2,822,607 | 2,822,607 | ||
| Cash at bank and in hand | 61,298 | 101,750 | 163,048 | |
| Creditors | (12,046) | (1,536) | (13,582) | |
| Loan Between Funds | 1,428 | (1,428) | ||
| 50,680 | 101,750 | 2,819,643 | 2,972,073 |
| General | Designated | Endowment | ||
|---|---|---|---|---|
| Fund | Fund | Fund | Total | |
| Investments | 2,607,571 | 2,607,571 | ||
| Cash at bank and in hand | 115,974 | 3,430 | 119,404 | |
| Creditors | (6,406) | (1,376) | (7,782) | |
| Loan Between Funds | 1,428 | (1,428) | ||
| 110,996 | 3,430 | 2,604,767 | 2,719,193 |