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|Report ofthe Trustees||||
|Report ofthe Independent||Examiner||
|Statement ofFinancial|Activities|||
|Balance Sheet||||
|Notes to the Financial|Statements||10|
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|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|
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|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|
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|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|
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|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|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|Fees|payable|for|Independent|Examination|1,800|1,854|
||||||1,800|1,854|
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|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|
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|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%|
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|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|