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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|
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|||||||Notes|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.||||||
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||||||||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|
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##
|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|
##
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##
|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|
|9.|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|
##