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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|
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|||||||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.||||||
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|||||||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|
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||||||||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|
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|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|
##