2021-06-30-accounts - William Edwards Educational Charity

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Trustees.		Cllr J A Cooke (Chairman)
		Mr M P Coker (Vice-Chairman)
		Mr N J Vincett
		Mr PI Ryan
		Dr G Raper
		Ms J Richmond
		Dr R Davies
		Mr J Bausor
		Cllr PJJones
Principal	Office:	Heath &Blenkinsop
		Solicitors
		42 Brook Street
		Warwick
		CV34 4BL
Clerk to the Charity:		J M P Hathaway
		Solicitor
		42 Brook Street
		Warwick
		CV34 4BL
Senior Statutory Auditor:		Steven R Mugglestone
Auditors.		Michael Harwood &Co
		Chartered Accountants
		Greville House
		10Jury Street
		Warwick
		CV34 4EW
Bankers:		Lloyds Bank pic
		Swan Street
		Warwick
		CV34 48J
Investment	Advisers:	Quilter Cheviot
		Investment Managers
		39Bennetts Hill
		Birmingham
		B2JSN

						Unrestricted	Designated	Endowment	2021
						Funds	Funds	Funds	Total
INCOME
Income from:
Investments						261,096		133	261,229
Bank interest						94			94
Total income						261,190		133	261,323
EXPENDITURE
Expenditure on:
Raising funds						9,549			9,549
Charitable activities						200,984			200,984
Other costs						63,025			63,025
Total expenditure						273,558			273,558
Realised gain on investments								6.429	6,429
Net income/(expenditure)		before		transfers	and	(12,368)		6,562	(5,806)
unrealised gains on revaluation				ofinvestments
Transfers between	funds					(50,000)	50,000
						(62,368)	50,000	6,562	(5,806)
Other recognised	gains:
Unrealised gain on revaluation			of	investments		921		1,320,661	1,321,582
Net movement in	funds					(61,447)	50,000	1,327,223	1,315,776
Fund balances brought forward			at	I July 2020		170,447	100,000	8,902,894	9,173,341
Fund balances at	30June 2021					109,000	150,000	10,230,117	10,489,117
The notes on pages 11to 14form			part ofthese		accounts.

							Notes	Unrestricted	Designated	Endowment	2020
								Funds	Funds	Funds	Total
INCOME
Income from:
Investments							I	261,427		757	262,184
Bank interest								994			994
Total income								262,421		757	263,178
EXPENDITURE
Expenditure on:
Raising funds							2	9,495			9,495
Charitable activities							3	98,311			98,311
Other costs							4	62,756			62,756
Total expenditure								170,562			170,562
Realised loss on investments										(14,415)	(14,415)
Net income/(expenditure)			before		transfers	and		91,859		(13,658)	78,201
unrealised gains on revaluation					ofinvestments
Transfers between	funds
								91,859		(13,658)	78,201
Other recognised	gains:
Unrealised gain on revaluation				of	investments			169		100,863	101,032
Net movement in	funds							92,028		87,205	179,233
Fund balances brought		forward		at	I July 2019			78,419	100,000	8,815,689	8,994,108
Fund balances at	30	June	2020					170,447	100,000	8,902,894	9,173,341

		Unrestricted	Endowment	30June 2021		30June 2020
	Notes
FIXEDASSETS
Investments		7,060	10,105,262	10,112,322		8,810,940
Cash held by broker			96,523	96,523		79,213
		7,060	10,201,785	10,208,845		8,890,153
CURRENT ASSETS
Debtors		7,428		7,428		2,715
Cash at bank		327,612	28,332	355,944		358,247
		335,040	28,332	363,372		360,962
CREDITORS
Amounts falling due within one year	8	(83,100)		(83,100)		(77,774)
NET CURRENT ASSETS		251,940	28,332	280,272		283,188
TOTAL ASSETS		259,000	10,230,117	10,489,117		9,173,341
FUNDS:
Unrestricted				109,000		170,447
Designated				150,000		100,000
				259,000		270,447
Endowment				10,230,117		8,902,894
				10,489,117	7	9,173,341

1.	INVESTMEN	T	INCO	ME
						2021	2020
	Managed funds		income			53,206	58,253
	Income from Charities			Official Investment	Fund	208,023	203,931
						261,229	262,184
2.	EXPENDITURE ON			RAISING FUNDS
						2021	2020
	Investment Brokers' fees					9,549	9,495
3.	CHARITABLE		ACTIVITIES EXPENDITURE
						2021	2020
							8
	Grants awarded		to schools			76,303	11,000
	Grants awarded		to individuals			24,501	23,754
	Grants awarded		for bursaries			56,180	37,257
	Grants awarded		to undergraduates			44,000	26,300
						200,984	98,311
	The following	material		grants were made to	schools during	the year in accordance with the objectives ofthe charity:
						2021	2020
	Clinton Primary		School				11,000
	Priors Field Primary School					43,815
	WCC Park Hill	Junior School				13,813
	Thorns Community Infant School					18,675
4.	OTHER COSTS
						2021	2020
	Administrative	costs				42,380	42,140
	Investment management			costs		12,960	12,960
	Advertising					823	663
	Bank Charges					60	30
	Trustees' meetings					222	843
	Audit fee					3,600	3,500
	Accountancy fee					2,700	2,620
	Sundries					280
						63,025	62,756

6, FIXED	ASSET INVESTMENTS
									2021	2020
Market	value at I July 2020								8,890,153	8,812,352
Additions									31,248	461,523
Disposals									(57,878)	(419,272)
Increase/(decrease) in cash									17,310	(51,067)
Net gains/(losses) on revaluation									1,328,012	86,617
Market value at 30 June 2021									10.208,845	8,890,153
Cost at 30 June 2021									2,389,522	2,426,694
Investments comprise ofthe following:
Managed	funds								2,466,895	2,163,395
COIF Charities Investment Fund									7,645,427	6,647,545
Cash held by broker									96,523	79,213
									10,208,845	8,890,153
All the investments are assets in the UK.
									Market
								Cost	Value	Income
Holdings: Stock Exchange										6
17,750	United Kingdom (Government of) 1.75vv Snr Bds 07/09/2037 GBP100 'Regs'							20,266	19,408	311
11,750	United Kingdom (Government of) 4.5Yv Snr Bds 07/12/2042 GBPI000 'Regs'							20,216	19,084	529
23,000	United Kingdom (Government of) Idx/Lkd			Nts 10/08/2028 GBP100				30,357	30,594	30
30,000	United Kingdom (Government of)0.1255'v			I/L Gilt Bds 22/11/2036 GBP1000				50,442	51,137	43
41,369.45	FIL Investment Services (UK)Limited		Money Builder			Income IGBP Dis		40,570	42,611	1,356
44,030.9	M&G Securities Limited Corporate	Bond PP GBP Dis						39,313	44,674	921
31,500	Royal London Unit Trust Managers	Sterling		Credit Instl Inc Z GBPNAV				45,290	45,864	1,567
46,134.363	AXA Investment Managers UK Ltd	US Sht		Duration		High Yld BdZI Net	Dis	47,651	42,508	1,767
4,000	Pimco Global Advis Gbl Inv Grad Cred Hgd Instl							54,156	55,760	1,464
8,500	BPOrd USD0.25							43,168	26,775	1,312
3,100	Royal Dutch Shell 'B'ord EURO.07							59,633	43,369	1,512
500	Rio Tinto Ord GBP0.10							15,407	29,745	2,042
900	Persimmon Ord GBP0.10							10,270	26,622	2,115
365	Reckitt Benckiser Group Ord GBP0.10							25,147	23,349	637
500	Unilever Ord GBP0.031111							8,571	21,153	746
800	British American Tobacco Ord GPB0.25							22,790	22,400	1,694
400	AstraZeneca Ord USD0.25							19,879	34,732	828
1,450	GlaxoSmithKline Ord GBP0.25							18,036	20,581	1,160
4,000	B&M European Value Retail SA Ord		GBPO.I (Dl)					15,439	22,928	1,860
1,375	Relx Pic GBP0.1444							19,670	26,386	646
1,250	Compass Group Pic Ord GBP0.1105							20,027	19,025
17,525	Vodafone Group Ord USD0.2095238							35,709	21,265	1,413
2,979	National Grid Ord GBP0.12431289							29,914	27,431	1,460
13,000	Barclays Pic Ord GBP0.25							41,080	22,246	130
60,000	Lloyds Banking Group Ord GBPO.10							62,630	28,014	342
8,000	Aviva Ord GBP0.25							46,653	32,472	2,160
7,500	Legal &General Group Ord GBP0.025							10,047	19,320	1,318
3,500	Segro Ord GBP0.10							12,291	38,308	774
6,150	M&G Pic Ord GBP0.05							15,291	14,077	1,425
74,467	Artemis Fund Managers Income Institutional			lnc				55,257	73,544	2,582
2,350	Henderson Investment Funds Ltd Janus		Henderson		UK Smaller Companies		IA	25,338	30,644
1,295	Vanguard Funds Pic FTSE250 UCITS		ETFGBP Dis					42,634	45,105	936
1,835	Findlay Park Funds Pic American USD		Dis					32,090	239,501
4,125	HSBC ETFSS&P500 Ucits Etf							81,086	129,723	1,494
6,000	iShares S&P500 Ucits Etf(Dist)							45,237	185,753	2,117
	Carried forward						1,161,555		1,576,108	38,691

FIXED	ASSET INVESTMENTS (cont'd)
								Market
							Cost	Value	Income
Holdings: Stock Exchange
	Brought forward					1,161,555		1,576,108	38,691
1,020	Vulcan Global Value Fund Value Equity II Inc Nav						61,383	137,643	888
48,500	Blackrock Fund Managers Ltd Continental European		Income D	Units Inc			64,544	87,882	1,655
77,250	Equity Trustees Fund Services Ltd Alliance Bernstein		EU Ex UK		Eq FGBP	Inc	79,085	90,460	995
33,000	Baillie Gifford &Co Japanese Income Growth YNet		Inc				39,898	50,358	1,119
33,230	FIL Investment Services (UK)Limited Asia Pacitic	Opportunities			W Acc Nav		32,630	49,047	1,356
300	Prusik Investment Mgmt. LLP Asian Equi' Income		U Unhedged		Inc Nav		30,811	47,450	2,080
32,570	JPMorgan Asset Management UK Ltd Emerging Markets CNet			Income			52,438	71,198	192
548	Vontobel Asset Management SA MTX Sustainable	Emg Mkts Lead N GBPAcc					55,511	67,114	203
25,090	HICL Infrastructure Co Ltd Ord GBP0.0001						42,852	41,599	2,070
24,187	International Public Partner Ord GBP0.0001						37,926	40,392	1,780
26,499	Octopus Renewables Infra Tr Pic Ord GBP0.01						26,746	27,718	1,174
500	Invesco Physical Markets Secured Gold Lkd Nts 31/12/2100 GBP						49,560	61,939
4,000	BMO Fund Management Ltd BMO Property Growth		& Income	I Inc			41,346	41,449	1,333
6,000	Secure Income REIT Pic Ord GBP0.1						18,121	22,800	876
3,850	Nb Private Equity Partners Limited Class'A'Ord Shs		USD0.01				30,282	53,708	1,696
Income	on investments sold during years
Imperial	Brands Pic GBP0.10								344
Equalisations									133
Movement on broker accrual account									(2,021)
						1,824,688		2,466,895	53,206
Other Investments
366.87 Charity Official Investment Fund —Income Units AOI							518	7,060	192
396,751.51 Charity Official Investment Fund —Income Units							564,316	7,638,367	207,831
						2,389,522		10,112,322	261,229

7.	DEBTORS DUE WITHIN	DEBTORS DUE WITHIN	DEBTORS DUE WITHIN	ONE	YEAR	2021	2020
	Managed	fund dividends	receivable			6,944	2,021
	Compensation					484	694
						7,428	2,715
8.	CREDITORS DUE WITHIN ONE YEAR
						2021	2020
	Accruals					8,700	8,424
	Grants for	bursaries awarded		but yet to be paid		16,400	19,600
	Grants for	undergraduates	awarded		but yet to be paid	58,000	49,750
						83,100	77,774

FUNDS
		Balance at					Balance at
		I July	Incoming	Resources		Revaluation	30June
		2020	resources	expended	Transfers	gains	2021
Unrestricted	funds	170,447	261,190	(273,558)	(50,000)	921	109,000
Designated	funds	100,000			50,000		150,000
Endowment	funds	8,902,894	133			1,327,090	10,230,117
		9,173,341	261,323	(273,558)		1,328,011	10,489,117