2022-06-30-accounts - William Edwards Educational Charity

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Trustees:		Cllr JA Cooke (Chairman)
		Mr M FCoker (Vice-Chairman)
		Mr N JVincett
		Mr PJ Ryan
		Dr G Raper
		Ms JRichmond
		Dr R Davies
		Mr J Bausor
		Cllr PIJones
Principal	Office:	Heath Jk 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 4BJ
Investment	Advisers:	Quilter Cheviot
		Investment Managers
		39Bennetts Hill
		Birmingham
		B2JSN

						Notes	Unrestricted	Designated	Endowment	2022
							Funds	Funds	Funds	Total
							8		8
INCOME
Income from:
Investments						1	275,201			275,201
Bank interest							391			391
Total income							275,592			275,592
EXPENDITURE
Expenditure on:
Raising funds							10,206			10,206
Charitable activities							148,271			148,271
Other costs							66,223			66,233
Total expenditure							224,700			224,700
Realised loss on investments									(48,488)	(48,488)
Net income/(expenditure)		before transfers			and		50,892		(48,488)	2,404
unrealised gains	on revaluation			ofinvestments
Transfers between	funds						(100,000)	100,000
							(49,108)	100,000	(48,488)	2,404
Other recognised	gains:
Unrealised loss on	revaluation		ofinvestments				(369)		(487,189)	(487,558)
Net movement in	funds						(49,477)	100,000	(535,677)	(485,154)
Fund balances brought forward			at	I July 2021			109,000	150,000	10,230,117	10,489,117
Fund balances at	30June	2022					59,523	250,000	9,694,440	10,003,963
The notes on pages	11to 14form		part ofthese		accounts.

				Notes	Unrestricted	Designated	Endowment	2021
					Funds	Funds	Funds	Total
						K	f
INCOME
Income from:
Investments Bank interest				1	261,096 94		133	261,229 94
Total income					261,190		133	261,323
EXPENDITURE
Expenditure on:
Raising funds Charitable activities Other costs					9,549 200,984 63,025			9,549 200,984 63,025
Total expenditure					273,558			273,558
Realised gain on investments							6,429	6,429
Net income/(expenditure) before transfers and unrealised gains on revaluation ofinvestments					(12,368)		6,562	(5,806)
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	1 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.

		Unrestricted	Endowment	30June 2022	30June 2021
	Notes	f.		f	f
FIXEDASSETS
Investments		6,691	9,523,774	9,530,465	10,112,322
Cash held by broker			132,128	132,128	96,523
		6,691	9,655,902	9,662,593	10,208,845
CURRENT ASSETS
Debtors		7,140		7,140	7,428
Cash at bank		412,002	38,538	450,540	355,944
		419,142	38,538	457,680	363,372
CREDITORS
Amounts falling due within one year	8	(116,310)		(116,310)	(83,100)
NET CURRENT ASSETS		302,832	38,538	341,370	280,272
TOTAL ASSETS		309,523	9,694,440	10,003,963	10,489,117
FUNDS:
Unrestricted				59,523	109,000
Designated				250,000	150,000
				309,523	259,000
Endowment				9,694,440	10,230,117
				10,003,963	10,489,117

							2022	2021
	Managed funds	income					61,696	53,206
	Income from Charities				Official Investment	Fund	213,505	208,023
							275,201	261,229
2.	EXPENDITURE		ON		RAISING FUNDS
							2022	2021
							g
	Investment Brokers'			fees			10,206	9,549
3.	CHARITABLE	ACTIVITIES EXPENDITURE
							2022	2021
	Grants awarded	to	schools				40,000	76,303
	Grants awarded	to	individuals				25,574	24,501
	Grants awarded	for		bursaries			69,247	56,180
	Grants awarded	to	undergraduates				29,450	44,000
	Grants no longer	required					(16,000)
							148,271	200,984
	The following material				grants were made to	schools during the year in accordance	with the objectives ofthe charity:
							2022	2021
							g	8
	StJohn's Primary		School				40,000 .
	Priors Field Primary			School				43,815
	WCC Park Hill Junior School							13,813
	Thorns Community			Infant School				18,675
4.	OTHER COSTS
							2022 g	2021f
	Administrative costs						43,220	42,380
	Investment management				costs		13,920	12,960
	Advertising						1,323	823
	Bank charges						60	60
	Trustees* meetings						1,040	222
	Audit fee						3,720	3,600
	Accountancy fee						2,760	2,700
	Sundries						180	280
							66,223	63,025

6. FIXE	DASSET INVESTMENTS
									2022	2021
										g
Market	value at I July 2021								10,208,845	8,890,153
Additions									459,041	31,248
Disposals									(504,852)	(57,877)
Increase/(decrease) in cash									35,605	17,310
Net gains/(losses) on disposal									(48,488)	6,429
Net gains/(losses) on revaluation									(487,558)	1,321,582
Market	value at 30June 2022								9,662,593	10,208,845
Cost at	30June 2022								2,617,053	2,389,522
Investments comprise ofthe following;
Managed funds									2,285,152	2,466,895
COIF Charities Investment Fund									7,245,313	7,645,427
Cash held by broker									132,128	96,523
									9,662,593	10,208,845
All the	investments are assets in the UK.
									Market
								Cost	Value	Income
Holdings: Stock Exchange									g
17,750	United Kingdom (Government of) 1.75%Snr Bds 07/09/2037				GBP100'Regs'			20,266	15,870	311
11,750	United Kingdom (Government of)4.5%Snr Bds 07/12/2042				GBP1000	'Regs'		20,216	15,180	529
23,000	United Kingdom (Government ofl Idx/Lkd Nts 10/08/2028 GBP100							30,357	30,646	32
30,000	United Kingdom (Government of)0.125%I/L Gilt Bds 22/11/2036 GBP1000							50,442	45,982	46
41,369.45	FIL Investment Services (UK)Limited	Money Builder		Income	I GBP Dis			40,570	35,565	120
44,030.9	M&G Securities Limited Corporate Bond PP GBP Dis							39,313	38,148	1,084
31,500 46,154.363	Royal London Unit Trust Managers Sterling Credit lnstl inc2GBPNAV AXA Investment Managers UK Ltd US Sht Duration High Yld BdZI Net						Dis	45290 47,651	38,682 38,165	1,574 1,730
4,000	Pimco Global Advis Gbl lnv Grad Cred Hgd Instl							54,156	45,480	1,544
8,500 3,100	BPOrd USD0.25 Royal Dutch Shell 'B'ord EURO.07							43,168 59,633	33,006 66,154	1,409 2,286
500	Rio Tinto Ord GBP0.10							15,407	24,583	3,782
900	Persimmon Ord GBP0.10							10,270	16,767	2,115
365	Reckitt Benckiser Group Ord GBPO.10							25,147	22,521	637
500	Unilever Ord GBP0.031111							8,571	18,605	724
800	British American Tobacco Ord GPB0.25							22,790	28,156	1,729
400	AstraZeneca Ord USD0.25							19,879	43,200	2,016
1,450 4,000 1,375	GlaxoSmithKline Ord GBP0.25 B&M European Value Retail SA Ord Relx Pic GBP0.1444	GBP0.1 (DI)						18,036 15,439 19,670	25,601 14,668 30,608	1,160 1,462 685
1,250	Compass Group Pic Ord GBP0.1105							20,027	21,000	175
17,525 2,979 13,000	Vodafone Group Ord USD0.2095238 National Grid Ord GBP0.12431289 Barclays Pic Ord GBP0.25							35,709 29,914 41,080	22,197 31,339 19,906	1,331 1,471 780
60,000 6,080	Lloyds Banking Group Ord GBP0.10 Aviva Ord GBP0.328947368							62,630 34,841	25,386 24,399	1,200 588
7,500	Legal &General Group Ord GBP0.025							10,047	17,963	1,384
3,500	Segro Ord GBP0.10							12,291	34,188	850
6, 150 2,350	M&G Plc Ord GBP0.05 Henderson Investment Funds Ltd Janus	Henderson	UK Smaller Companies				IA	15,291 25,339	11,968 23,136	1,125
1,295 4,850	Vanguard Funds Pic FTSE250 UCITS HSBC ETFSS&P500Ucits Etf	ETFGBPDis						42,634 106,526	37,309 152,676	1,328 1,463
6,000	iShares S&P500Ucits Etf(Dist)							45,237	185,805	2,363
	Carried forward						1,087,837		1,234,859	39,033

FIXED	ASSETINVESTMENTS (cont'd)
							Market
						Cost	Value	Income
Holdings: Stock Exchange
	Brought forward				1,087,837		1,234,859	39,033
51,300	Blackrock Fund Managers Ltd Continental European	Income D	Units Inc			69,639	82.149	2,727
81,800	Equity Trustees Fund Services Ltd Alliance Bernstein	EU Ex UK		Eq FGBP I	nc	84,257	85,236	1,529
39,500	Baillie Gifford &Co Japanese Income Growth YNet	Inc				48,781	52,061	967
33,230	FILInvestment Services (UK)Limited Asia Pacific Opportunities			W Acc Nav		32,630	45,292	1,312
150	Prusik Investment Mgmt, LLP Asian Equity Income U Unhedged			Inc Nav		15,406	25,011	2,229
32,570	JPMorgan Asset Management UK Ltd Emerging Markets CNet		Income			52,438	53,154
25,090	HICL Infrastructure Co Ltd Ord GBP0.0001					42,852	43,205	2,070
26,202	International Public Partner Ord GBP0.0001					41,139	42,657	1,826
33,809	Octopus Renewables Infra Tr Pic Ord GBP0.01					34,312	36,514	1,711
500	Invesco Physical Markets Secured Gold Lkd Nts 31/12/2100 GBP					49,560	71,913
3,730	BMO Fund Management Ltd BMO Property Growth	& Income	I Inc			41,296	39,792	1,400
8,200	Secure Income REITPic Ord GBPO.I					28,283	38,622	1,035
3,850	Nb Private Equity Partners Limited Class'A'Ord Shs	USD0.01				30,282	57,173	2,490
1,180	Schroder International Selection Fd US Large Cap X					211,347	198,565
3550	Dodge &Cox Worldwide Funds Pic US Stock Inc NAV					98,675	98,513
220	Sparx Fund Pic Japan Sust Equity Insti EGBP Unhedged					24,607	23,389	184
4850	Pacific Capital UCITS Funds Pic Pac Nth ofSth EM All					58,878	56,905
Income	on investments sold during year:
Artemis	Fund Managers Income Institutional lnc Artemis Fund	Managers						1,412
Vulcan Global Value Fund Value Equity II Inc Nav								928
Vontobel Asset Management SA MTX Sustainable Emg Mkts		Lead N GBP						843
Equalisations							142
Movement on broker accrual account
					2,052,219		2,285,152	61,696
Other Investments
366.87 Charity Official Investment Fund —Income Units AOI						518	6,690	197
396,751.51 Charity Official Investment Fund —Income Units						564,316	7,238,623	213,308
					2,617,053		9,530,465	275,201

DEBTORS DUE	DEBTORS DUE	WITHIN	ONE	YEAR	2022f	2021 g
Managed	fund dividends receivable				6,722	6,944
Compensation					418	484
					7,140	7,428
CREDITORS DUE WITHIN ONE YEAR
					2022	2021
Accruals Grants for	bursaries	awarded	but yet to be paid		8,880 40,800	8,700 16,400
Grants for	undergraduates awarded			but yet to be paid	26,200	58,000
Grants for	schools	awarded	but yet	to be paid	40,430
					116,310	83,100

FUNDS
		Balance at					Balance at
		I July	Incoming	Resources		Revaluation	30June
		2021	resources	expended	Transfers	Gains/loss	2022
						8
Unrestricted	funds	109,000	275,593	(224,701)	(100,000)	(369)	59,523
Designated	funds	150,000			100,000		250,000
Endowment	funds	10,230,117				(535,677)	9,694,440
		10,489,117	275,593	(224,701)		(536,046)	10,003,963