2022-04-05-accounts - The Melbourne Gardens Charity Capital Trust

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	Page
Report to the Trustees	1 −4
Independent Examiners report	5
Statement of financial activities	6
Balance sheet	7
Notes to the accounts	8 −11

Bankers:	National Westminster Bank plc
	836 Osmaston Road
	Allenton
	Derby
	Derbyshire
	DE24 9ZT
Solicitors:	Withers LLP
	20 Old Bailey
	London
	EC43 7AN
Accountants:	PKF Smith Cooper Limited
	7 Compton Street
	Ashbourne
	Derbyshire
	DE6 1BX

Reserves:	The trustees do not consider that there is a need for a reserves policy as they make
	donations to charitable purposes as and when the funds are available.
Investments:	The objective is to achieve an overall return of twice that obtainable on cash deposits,
	with the income element not less than the return obtainable on cash deposits.
Risk Management:	The trustees monitor the performance of the investment managers. They also meet
	annually to approve the budget for future income and expenditure.
	The committee meets regularly and is responsible for monitoring actual income and
	expenditure against agreed budgets.

		2022		2021
Income
Garden entrance fees and catalogue sales		25,462		14,387
Donations		9,408		656,412
Contribution from melbourne maintenance fund				32,000
		34,870		702,799
Direct charitable expenditure
Purchases	7,069		4,253
Wages and salaries	1,500		123,424
Subcontract labour & equipment hire			9,217
Repairs to plant and machinery	12,744		11,409
Electricity, rates and water	2,704		5,935
Motor expenses	2,831		3,499
	26,848		157,737
		(26,848)		(157,737)
Gross surplus	23.01%	8,022	77.56%	545,062
Management and administration expenses
Wages and salaries			3,000
Postage, stationery and advertising	18,372		7,126
Professional fees	999		6,745
Accountancy	550
Bank charges	313		117
		•(20,234)		(16,988)
Operating (deficit)/surplus		(12,212)		528,074
Other income
Realised gains/(losses) on investment assets	93,471		2,173
Unrealised gains/(losses) on investment assets	(81,679)		55,227
Gain/(losses) on currency transactions			(494)
Listed investment interest and dividends	3,661		1,720
		15,453		58,626
Net movement in funds	9.29%	3,241	83.48%	586,700
Total funds brought forward		94,734		(491,966)
Total funds carried forward		97,975		94,734


	Notes
Fixed assets
Investments	2		343,071		322,863
Current assets
Other debtors		62,246		58,536
Cash at bank and in hand		11,577		12,016
		73,823		70,552
Current liabilities
Trade creditors		24,850		24,300
Other creditors		294,069		274,381
		318,919		298,681
Net current liabilities			(245,096)		(228,129)
Net assets			97,975		94,734
Unrestricted funds			97,975		94,734

		Investments Held At	Investments Held At	Investments Held At						Investments Held At	Investments Held At	Investments Held At
		6	April 2021			Movement In Period					5 April 2022
2	Fixed asset investments	Holding	Book	Market	Date	Holding	Cost/	Gain/(Loss)	MV	Holding	Book	Market
			Value	Valuation			(Proceeds)	on Disposal	Adjustment		Value	Valuation
	0.125% Treasury Stock 2068	3,100	9,376	9,980	06/05/21	500	1,633
					22/02/22	(3,600)	(12,787)	1,779	(604)
	0.125% Treasury Stock 2062				08/06/21	500	1,648
					05/10/21	450	1,541
					02/02/22	(950)	(3,225)	36
	0.125% Treasury Stock 2065				23/06/21	500	1,485
					02/02/22	(500)	(1,575)	90
	0.125% Treasury Stock 2026				03/08/21	1,830	2,499
					03/08/21	870	1,195
					01/02/22	(2,700)	(3,788)	94
	0.125% Treasury Stock 2024				03/08/21	1,830	2,500
					05/08/21	870	1,192
					02/02/22	(2,700)	(3,828)	136
	CF Ruffer Absolute Return
	Fund	93,883	134,323	185,138	17/11/21	869	1,775
					02/02/22	(94,752)	(192,499)	56,401	(50,815)
	CF Ruffer Baker Steel Gold
	Fund	1,744	1,985	4,414	02/02/22	(1,744)	(4,393)	2,408	(2,429)

										(Continued)
CF Ruffer Equity & General
Fund Class C	664	1,175	3,560	15/11/21		16
				02/02/22	(664)	(3,765)	2,574	(2,385)
CF Ruffer European Fund	1,404	5,506	12,739	15/11/21		108
				02/02/22	(1,404)	(12,138)	6,524	(7,233)
CF Ruffer Japanese Fund	3,543	3,703	13,309	05/05/21	(615)	(2,290)
				02/02/22	(2,928)	(10,543)	9,130	(9,606)
LF Ruffer Pacific & Emerging
Markets	1,946	4,304	7,737			5
				26/05/21	(250)	(1,015)
				13/08/21		(4,594)
				09/11/21		(1,775)	3,075	(3,286)	1,696	147
!shares Physical MI	162	3,413	3,932	22/06/21	(162)	(4,023)	610	(519)
Lloyds Banking Group	3,785	2,302	1,619	02/02/22	(3,785)	(2,012)	(290)	683
Ruffer Multi Stratergies Fund	27,078	21,694	25,806	02/08/21	(10,290)	(9,148)
				01/02/22	(16,787)	(15,088)	2,542	(4,112)	1
Ruffer Protection Stratergies
International Fund	1,633	7,502	6,943	13/09/21	624	1,050
				07/02/22	(2,257)	(7,413)	(1,139)	559
Ruffer SICAV Fixed Income
Fund	148	21,721	24,392	26/04/21	(19)	(2,500)
				07/02/22	(167)	(22,015)	2,794	(2,671)	(37)

	Page
Report to the Trustees	1 −4
Independent Examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the accounts	8−11

		2022		2021
	£	£	£	£
Income
Garden entrance fees and catalogue sales		25,462		14,387
Donations		9,408		656,412
Contribution from melbourne maintenance fund				32,000
		34,870		702,799
Direct charitable expenditure
Purchases	7,069		4,253
Wages and salaries	1,500		123,424
Subcontract labour & equipment hire			9,217
Repairs to plant and machinery	12,744		11,409
Electricity, rates and water	2,704		5,935
Motor expenses	2,831		3,499
	26,848		157,737
		(26,848)		(157,737)
Gross surplus	23.01%	8,022	77.56%	545,062
Management and administration expenses
Wages and salaries			3,000
Postage, stationery and advertising	18,372		7,126
Professional fees	999		6,745
Accountancy	550
Bank charges	313		117
		(20,234)		(16,988)
Operating (deficit)/surplus		(12,212)		528,074
Other income
Realised gains/(losses) on investment assets	93,471		2,173
Unrealised gains/(losses) on investment assets	(81,679)		55,227
Gain/(losses) on currency transactions	−		(494)
Listed investment interest and dividends	3,661		1,720
		15,453		58,626
Net movement in funds	9.29%	3,241	83.48%	586,700
Total funds brought forward		94,734		(491,966)
Total funds carried forward		97,975		94,734


	Notes
Fixed assets
Investments	2		343,071		322,863
Current assets
Other debtors		62,246		58,536
Cash at bank and in hand		11,577		12,016
		73,823		70,552
Current liabilities
Trade creditors		24,850		24,300
Other creditors		294,069		274,381
		318,919		298,681
Net current liabilities			(245,096)		(228,129)
Net assets			97,975		94,734
Unrestricted funds			97,975		94,734

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