The Hobart Charitable Trust Scottish Charity No. SC030028
Trust Accounts
for the year to 5 April 2020
Dentons UK and Middle East LLP 1 George Square Glasgow G2 1AL DX GW67
Ref: AIG/AJXM/104180.1 The Hobart Charitable Trust
Contents
Page No.
Report by the Trustees 3-6
Reference and administrative details 5
Statement of financial activities 7
Balance Sheet 8
Notes 9-13
Report of the Independent Examiner to the Trustees 14
Page 2 of 26 The Hobart Charitable Trust
Report by the Trustees
Year ended 5 April 2020
The Trustees present their annual report and financial statements for the year ended 5 April 2020.
Objectives, Activities and Achievements
The objectives of the Trust are widely drawn and allow payments of income or capital, to or for the benefit of such institutions, foundations, bodies or trusts which the law regards as charitable and which are also exclusively charitable according to the laws of Jersey, Channel Islands as the Trustees may from time to time decide. The Trust is to be wound up by distribution to such charitable purposes by 1st July 2090 at the latest. Jersey law applies the test laid down in I.R.C. v Pemsel (1891) AC583 and its requirements are similar to Scots Law.
The Trust primarily furthers its charitable purposes through making donations annually and invites applications/appeals from relevant bodies co-ordinated through its registered office.
The Trustees have considered all the appeals received during the year and resolved to make 7 donations totalling £42,000 (2019: 14 donations totalling £65,921) for a range of charitable purposes. Details of these donations are shown in Note 4 to the Accounts.
The Trustees are comfortable that the objectives of the Trust continue to be met.
Financial Review, Investment policy and Reserves
The Trust is reliant on the income from its investments and cash for its incoming resources, the income from which was £55,014.88 in the year to 5 April 2020 (2019: £57,830.27). None is raised from the public.
The financial position of the Trust and the activities during the period are stated in the attached accounts. The Trustees consider the financial position to be sound.
The Trustees have considered the potential impact of the Covid-19 global pandemic on the Trust. These financial statements reflect a reduction in the value of the Trust's investment portfolio which is in line with the fall in global stock markets. The current financial year may see a reduction in dividend etc., income and that may impact on the sums available for distribution as grants and donations.
The Trustees have wide investment powers. They adopt a medium risk investment strategy aimed at generating both income and capital growth in the medium to longer term. They receive advice from professional investment advisers regarding implementation of this strategy.
The Trustees retain sufficient reserves, all unrestricted, to ensure that the Trust is able to meet its objectives.
Page 3 of 26 The Hobart Charitable Trust
Report by the Trustees
Year ended 5 April 2020
Structure, Governance and Management
The Trust was established by Deed of Trust by Henry Marshall Smalley dated 31 March 2000 and registered in the Books of Council and Session on 10 April 2000.
Trustees are appointed in accordance with the terms of the Deed of Trust. The Trustees are . The Directors of Defensor Trustees Limited throughout the year were
Trustees are appointed by Deed of Assumption in accordance with the terms of the Deed of Trust. The Trustees seek to follow good practice and ensure that there is a broad and diverse mix of skills and experience within their number. The Trustees keep succession planning under review and when needed will seek to recruit new trustees based on their skill, experience and knowledge of the sector. On appointment, new trustees will be provided with a welcome pack including a history of the Trust, Trust Accounts, constitutional documents, a note on trustees duties and any other Codes of Conduct applicable at that time. The Trustees have assessed the risks to which the charity is exposed, in particular those related to the financial and investment operations of the Trust, and are satisfied that systems are in place to minimise exposure to these risks. The variability of investment returns is mitigated by retaining investment managers and having a diversified portfolio.
The Secretaries to the Trust, to whom all applications should be made, are Dentons UK and Middle East LLP, 1 George Square, Glasgow G2 1AL. Applications are passed to the Trustees for consideration, usually at an annual meeting, when donations are agreed.
The Trustees are aware of their general duties as defined in the Charities and Trustee Investment (Scotland) Act 2005 and receive training from Dentons UK and Middle East LLP as appropriate.
Future Plans
The Trust Deed permits payments of income or capital to be applied for charitable purposes, as the Trustees may from time to time decide. The Trustees may therefore, at their discretion, decide to make donations in any year in excess of the distributable revenue. There is presently no intention to alter their current strategy.
Page 4 of 26 The Hobart Charitable Trust
Report by the Trustees
Year ended 5 April 2020
Reference and administrative details
Charity Name: The Hobart Charitable Trust
Scottish Charity No.: SC030028
Trustees:
Principal address: 1 George Square Glasgow G2 1AL
Bankers: Bank of Scotland 11 Earl Grey Street Edinburgh EH3 0BR
Solicitors: Dentons UK and Middle East LLP 1 George Square Glasgow G2 1AL
Investment Advisors: Rathbones Investment Management Limited George House 50 George Square Glasgow G21 1EH
Independent Examiner: Parkhill Mackie & Co Chartered Accountants and Registered Auditors 60 Wellington Street Glasgow G2 6HJ
Page 5 of 26 The Hobart Charitable Trust
Report by the Trustees
Year ended 5 April 2020
Statement of responsibilities of the Trustees
The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice).
The law applicable to charities in Scotland requires the Trustees to prepare or have prepared on their behalf accounts for each financial year which give a true and fair view of the state of affairs of the Charity at the end of the year and of its financial activities during the year then ended. In preparing or arranging preparation of those accounts, the Trustees are required to
* select suitable accounting policies and then apply them consistently; * make judgements and estimates that are reasonable and prudent; * observe the methods and principles in the Charities SORP; * state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures being disclosed and explained in the financial statements; * prepare the financial statements on the going concern basis unless there are indications to the contrary.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and The Charities Accounts (Scotland) Regulations 2006 (as amended). They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
...... ……………………. Trustee
………………………………………..Date
Page 6 of 26 The Hobart Charitable Trust
Statement of financial activities
Year to 5 April 2020
Unrestricted Funds Capital Revenue Total Total Note Fund Fund 2020 2019 £ £ £ £ Income from:
Investments 2 - 55,014.88 55,014.88 57,830.27
Total income - 55,014.88 55,014.88 57,830.27
Expenditure on:
Raising funds Investment management costs 3 3,947.12 3,947.12 4,572.56
Charitable activities Grants and donations 4 - 42,000.00 42,000.00 65,921.00 Support costs 5 4,788.00 1,092.00 5,880.00 5,620.00
Total expenditure 8,735.12 43,092.00 51,827.12 76,113.56
Net income/(expenditure) and net movement in funds before gains and losses on investments (8,735.12) 11,922.88 3,187.76 (18,283.29)
Net gains/(losses) on investments 7 (351,145.15) - (351,145.15) 122,139.58
Net income/(expenditure) (359,880.27) 11,922.88 (347,957.39) 103,856.29
Transfer between funds - - - -
Reconciliation of funds Total funds brought forward 1,943,645.17 (72.05) 1,943,573.12 1,839,716.83
Total funds carried forward 1,583,764.90 11,850.83 1,595,615.73 1,943,573.12
Page 7 of 26 The Hobart Charitable Trust
Balance Sheet
As at 5 April 2020 Note 2020 2019 £ £ £ £ Fixed assets:
Investments 7 1,544,188.00 1,915,995.00
Cash held for investment 28,914.76 8,252.91
Total fixed assets 1,573,102.76 1,924,247.91
Current Assets -
Debtors 8 785.00 500.76
Cash at bank and in hand: Cash held by Rathbones Investment Management Ltd 11,449.34 3,526.00 Cash held by Dentons UK and Middle East LLP: Sum on Bank of Scotland Solicitors Deposit Account 13,246.23 17,025.25 24,695.57 20,551.25
Total current assets 25,480.57 21,052.01
Current liabilities:
Creditors falling due within one year: Parkhill Mackie & Co, examination fee 528.00 516.00 Dentons UK and Middle East LLP business account 2,439.60 1,210.80 2,967.60 1,726.80
Net current assets 22,512.97 19,325.21
Total assets 1,595,615.73 1,943,573.12
The total funds of the charity:
Unrestricted funds:
Capital fund 9 1,583,764.90 1,943,645.17 Revenue fund 9 11,850.83 (72.05)
Total charity funds 1,595,615.73 1,943,573.12
The statement of accounts set out on pages 7 to 13 were approved by the
Trustees on ...... ………………...…………….
...... …………………….…………………. Trustee
The notes on pages 9 to 13 form part of these accounts.
Page 8 of 26 The Hobart Charitable Trust
Notes to the Accounts
Year to 5 April 2020
1 Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to these financial statements.
(a) Basis of Preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with The Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended), the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The financial statements have been prepared under the historical accounting convention, modified to include the revaluation of investments at market value.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
(b) Investments
Investments in quoted shares, traded bonds and similar investments are included initially at cost and subsequently at fair value (their market value). Realised gains and losses, representing the difference between sale proceeds and market value at the previous financial year end, or cost if acquired during the financial year, and unrealised gains and losses, representing the movement in the market value of investments over the financial year, or from their date of purchase if acquired during the financial year, are aggregated in the Statement of Financial Activities.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Gifts made to the Trust are recognised when they have been communicated to the Trust in writing containing both the amount and the settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 9 of 26 The Hobart Charitable Trust
Notes to the Accounts (Cont'd)
Year to 5 April 2020
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that will be required and the amount of the obligation can be measured reliably.
All expenditure including grants, donations, support costs and governance costs, is recognised on an accruals basis. Expenditure is allocated in the Statement of Financial Activities under headings that aggregate all related costs.
Grants and donations are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant are outside the control of the Trust.
(e) Funds
The Trust maintains Capital and Revenue funds. The Capital fund represents the original gifts by the Settlor (less any capital sums applied for charitable purposes) together with realised and unrealised gains and losses on the Trust's investments, less any costs, attributable to the Capital fund.
The Revenue fund represents the excess of income over expenditure which has arisen and has not yet been distributed.
There are no restrictions imposed by the Trust Deed in relation to expenditure of capital.
(f) Raising funds
The costs of raising funds consist of investment management costs.
(g) Charitable activities
Costs of charitable activities include grants and donations made and support costs, including governance costs.
(h) Taxation
The charity is exempt from tax on its charitable activities.
(i) Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Page 10 of 26 The Hobart Charitable Trust
Notes to the Accounts (Cont'd)
Year to 5 April 2020 (Cont'd)
2 Investment Income 2020 2019 £ £
Interest - fixed interest securities 3,269.37 2,743.93 Dividends - equities 51,608.07 54,852.50 Interest on cash deposits 137.44 233.84
55,014.88 57,830.27
3 Investment management costs 2020 2019 £ £
Investment management fees 3,947.12 4,572.56
4 Grants and donations 2020 2019 £ £ Donations made during the year were as follows -
Arts and Recreation Scottish Opera 7,000.00 7,000.00 Llangollen International Musical Eisteddfod 18,000.00 18,000.00 Ty Gobaith 2,000.00 7,800.00 Conwy District Scout Association - 2,000.00 Metaphysique - 1,000.00 Betws-y-Coed - 3,800.00 Nant Conwy RFC - 2,000.00 27,000.00 41,600.00
Welfare and Humanitarian Glasgow City Mission 3,000.00 3,000.00 Royal Voluntary Service 5,000.00 5,000.00 Brighter Future International 5,000.00 5,000.00 Hope House Children's Hospice 2,000.00 Nightingale House Hospice - 2,000.00 Meddygfa Betws y Coed - 5,070.00 15,000.00 20,070.00
Religious St Marys Church - 4,251.00 - 4,251.00
Whereof: Charged to Revenue 42,000.00 65,921.00 42,000.00 65,921.00
Page 11 of 26 The Hobart Charitable Trust
Notes to the Accounts (Cont'd)
Year to 5 April 2020 (Cont'd)
5 Support costs 2020 2019 £ £ Governance costs: Administration costs 5,352.00 5,104.00 Independent Examiner's fee 528.00 516.00
5,880.00 5,620.00
6 Related party transactions and trustees' expenses
Included in the expenses are payments amounting to £5,352.00 (inclusive of VAT) for professional Services rendered by Dentons UK and Middle East LLP, limited liability partnership. The Directors of Defensor Trustees Ltd, one of the Trustees, are members of the partnerships. £2,439.60 is due to Dentons UK and Middle East LLP at the year end.
None of the Trustees received any expenses during the year.
7 Fixed asset investments 2020 2019 £ £
Market value at beginning of year 1,915,995.00 1,801,153.00
Funds invested during year - 132,657.50
Disposals during year (20,661.85) (139,955.08)
Net realised investment gains/(losses) (25,705.83) Net unrealised investment gain/(loss) (325,439.32) (351,145.15) 122,139.58
Market value at end of year 1,544,188.00 1,915,995.00
Investments at market value comprised:
Fixed interest securities 38,658.00 69,798.00 Equities 1,505,530.00 1,846,197.00
1,544,188.00 1,915,995.00
Page 12 of 26 The Hobart Charitable Trust
Notes to the Accounts (Cont'd)
Year to 5 April 2020 (Cont'd)
8 Debtors 2020 2019 £ £
Income tax repayment 2019/20 on property income distributions 290.53 - Income tax repayment 2018/19 on property income distributions 493.26 493.26 Interest accrued at 05/04/20 1.21 - Interest accrued at 05/04/19 - 7.50
785.00 500.76
9 Movement in funds
At Gains and At 05/04/19 Income Expenditure losses 05/04/20 £ £ £ £ £ Unrestricted funds Capital 1,943,645.17 - (8,735.12) (351,145.15) 1,583,764.90 Revenue (72.05) 55,014.88 (43,092.00) - 11,850.83
Total funds 1,943,573.12 55,014.88 (51,827.12) (351,145.15) 1,595,615.73
Comparatives for movement in funds
At Gains and At 05/04/18 Income Expenditure losses 05/04/19 £ £ £ £ £ Unrestricted funds Capital 1,830,648.15 - (9,142.56) 122,139.58 1,943,645.17 Revenue 9,068.68 57,830.27 (66,971.00) - (72.05)
Total funds 1,839,716.83 57,830.27 (76,113.56) 122,139.58 1,943,573.12
10 Commitments
There were no outstanding commitments at 5 April 2020
Page 13 of 26 The Hobart Charitable Trust
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE HOBART CHARITABLE TRUST
I report on the accounts of the charity for the year ended 5 April 2020 which consist of a Statement of Financial Activities, a Balance Sheet and notes thereon.
Respective Responsibilities of Trustees and Examiner The charity’s trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1) (c) of the Act and to state whether particular matters have come to my attention.
Basis of Examiner’s Statement My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent Examiner’s Statements In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements:
· to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
· to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
……………………………………………………… …….……………….…………… Independent Examiner Date
Parkhill Mackie & Co Chartered Accountants 60 Wellington Street Glasgow G2 6HJ
Page 14 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
£25,700 0.125% Index Linked Treasury Stock 2029 38,658.00 38,658.00 40,417.00
Schroder Strategic Credit Line 32,700 Income Units 31,140.00 25/03/20 (14,000) sold 10,894.20 (2,437.91) 18,700 17,807.89 15,790.00
Aberdeen Asian Income Fund 25,000 Ordinary Shares of NPV 53,750.00 53,750.00 39,625.00
Aberforth Smaller Companies Trust Plc 4,000 Ordinary Shares of 1p 50,080.00 50,080.00 32,560.00
Allianz Technology Trust Plc 5,250 Ordinary Shares of 25p 82,215.00 82,215.00 84,105.00
BHP Group Plc 1,500 Ordinary Shares of $0.50 28,989.00 28,989.00 18,618.00
Compass Group Plc 3,197 Ordinary Shares of 11 1/20p 58,345.00 58,345.00 35,167.00
Diageo Plc 1,970 Ordinary Shares of 28 101/108p 61,464.00 61,464.00 48,423.00
Page 15 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
EasyJet Plc 1,650 Ordinary Shares of GBP0.27285714 17,469.00 17,469.00 7,838.00
Experian Group Plc 3,025 Ordinary Shares of USD$0.10 63,253.00 63,253.00 63,949.00
Ferguson Plc 447 Ordinary Shares of 11 227/563p 23,485.00 23,485.00 19,892.00
Fidelity Special Values Plc 19,275 Ordinary Shares of GBP0.05 50,838.00 50,838.00 31,572.00
F & C Investment Trust Plc 13,250 Ordinary Shares of 25p 93,413.00 93,413.00 72,345.00
General Accident 8 7/8% 30,000 Cum Preference Shares of £1 41,700.00 41,700.00 34,650.00
GlaxoSmithKline Plc 2,500 Ordinary Shares of 25p 39,850.00 39,850.00 37,235.00
HSBC Holdings Plc 5,975 Ordinary Shares of $0.50 Shares 39,023.00 39,023.00 23,733.00
Imperial Brands Plc 675 Ordinary Shares of 10p 17,321.00 17,321.00 10,554.00
Page 16 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
Johnson Matthey Plc 1,284 Ordinary Shares of 110 49/53p 43,027.00 43,027.00 21,616.00
JP Morgan Global Growth & Income 18,500 Ordinary Shares of 5p 59,200.00 59,200.00 50,505.00
Land Securities Group Plc 4,453 Ordinary Shares of 10 2/3p 40,611.00 40,611.00 22,915.00
Lloyds Banking Group Plc 28,500 9.25% Irr Preference Shares 40,784.00 40,784.00 32,205.00
L'Oreal S A 230 Shares of Euro 0.20 47,521.00 47,521.00 47,874.00
Meggitt Plc 5,500 Ordinary Shares of 5p 28,974.00 28,974.00 11,935.00
Newton Global Income W Fund 53,338.748 Income Units 89,876.00 89,876.00 79,624.00
Novartis AG 600 Shares CHF0.50 43,404.00 38,177.72 40,878.00 11/04/19 spin-off Alcon 120 shares CHF0.04 5,226.28 4,844.00
Page 17 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
Polar Capital Technology Trust Plc 7,600 Ordinary Shares of 25p 99,256.00 99,256.00 112,024.00
Prudential Plc 2,850 Ordinary Shares of 5p 47,894.00 41,302.35 26,226.00 21/10/19 demerger M & G PLC 2,850 Ordinary Shares of 5p 20/03/20 (2,850) sold 2,700.04 (3,891.61)
RELX Plc 2,275 Ordinary Shares of 14 51/116p 38,015.00 38,015.00 38,368.00
Renishaw Plc 1,235 Ordinary Shares of 20p 51,524.00 51,524.00 34,135.00
Royal Dutch Shell Plc 2,463 B Shares of Euro0.7 61,501.00 61,501.00 34,935.00
Royal London Global Index Linked Bond 28,000 Z Income Units 36,764.00 36,764.00 38,500.00
Royal London Ethical Bond Z Inc 30,000 Units 33,990.00 33,851.40 33,720.00 16/05/19 Equalisation 138.60
Page 18 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
Schlumberger Ltd 710 Common Stock 24,515.00 24,515.00 8,276.00
Segro Plc 3,250 Ordinary Shares of 10p 22,107.00 22,107.00 24,226.00
Smith & Nephew Plc 3,800 Ordinary Shares of US$0.20 57,494.00 57,494.00 51,794.00
Threadneedle UK Corporate Bond 47,500 Units 29,270.00 10/07/19 conversion Threadneedle Investments Sterling Corp Bond L Inc 29,163.6029 units 29,167.68 28,954.00 08/08/19 Equalisation 102.32
Unilever Plc 1,350 Ordinary Shares of 3 1/9p 59,427.00 59,427.00 54,500.00
Victrex Plc 1,775 Ordinary Shares of 1p 41,287.00 41,287.00 33,494.00
Vodafone Group Plc 9,000 Ordinary Shares of GBP0.01 12,721.00 12,721.00 9,992.00
Wood Group (John) Plc 4,944 Ordinary Shares of 0.0428571 26,203.00
Page 19 of 26 The Hobart Charitable Trust
Schedule 1
Investments (held by Rathbones Investment Management Ltd)
Market Account Market Value at Gain/(Loss) on Value at Value at 05/04/19 Purchased Realised Realisation 05/04/20 05/04/20 £ £ £ £ £ £
20/03/20 (4,944) sold 6,826.69 (19,376.31)
Worldwide Healthcare Trust Plc 2,825 Ordinary Shares of 25p 77,688.00 77,688.00 79,524.00 WPP Plc 1,375 Ordinary Shares of 10p 11,949.00 11,949.00 6,651.00
1,915,995.00 - 20,661.85 (25,705.83) 1,869,627.32 1,544,188.00
1,869,627.32
(325,439.32)
Page 20 of 26 The Hobart Charitable Trust
Schedule 2
Investment Income Tax Credit/ Amount Due Date Deducted Received £ £
0.125% Index Linked Treasury Stock 2029 Interest on £25,700 Stock 22/09/19 - 19.59 Interest on £25,700 Stock 22/03/20 - 19.69
Royal London Global Index Linked Bond Interest on 28,000 Units 31/12/19 - 371.20
Royal London Ethical Bond Interest on 30,000 Units 15/05/19 - 121.77 Interest on 30,000 Units 28/06/19 - 54.51 Interest on 30,000 Units 30/09/19 - 288.60 Interest on 30,000 Units 31/12/19 - 290.43 Interest on 30,000 Units 31/03/20 - 278.28
Schroder Strategic Credit Line Interest on 32,700 Shares 30/08/19 - 658.87 Interest on 32,700 Shares 28/02/20 - 688.56
Threadneedle UK Corporate Bond Interest on 47,500 units 07/08/19 - 98.04 Interest on 29,163.6029 units 07/11/19 - 203.42 Interest on 29,163.6029 units 07/02/20 - 176.41
Aberdeen Asian Income Fund (Jersey) Dividend on 25,000 Shares 24/05/19 - 562.50 Dividend on 25,000 Shares 16/08/19 - 562.50 Dividend on 25,000 Shares 15/11/19 - 562.50 Dividend on 25,000 Shares 20/02/20 - 625.00
Aberforth Smaller Companies Trust Plc Dividend on 4,000 Shares 30/08/19 - 400.00 Dividend on 4,000 Shares 06/03/20 - 880.00 Dividend on 4,000 Shares 06/03/20 - 160.00
BHP Group Plc Dividend on 1,500 Shares 25/09/19 - 945.45 Dividend on 1,500 Shares 24/03/20 - 744.45
Newton Global Income W Fund Dividend on 53,338.7489 units 31/05/19 - 565.98 Dividend on 53,338.7489 units 31/08/19 - 1,180.65 Dividend on 53,338.7489 units 30/11/19 - 516.30 Dividend on 53,338.7489 units 28/02/20 - 704.71
Compass Group Plc Dividend on 3,197 Shares 29/07/19 - 418.81 Dividend on 3,197 Shares 24/02/20 - 859.99
Page 21 of 26 The Hobart Charitable Trust
Schedule 2
Investment Income Tax Credit/ Amount Due Date Deducted Received £ £
Diageo Plc Dividend on 2,200 Shares 11/04/19 - 574.20 Dividend on 2,200 Shares 03/10/19 - 836.66
EasyJet Plc Dividend on 1,650 Shares 20/03/20 - 724.35
Experian Group Plc Dividend on 3,700 Shares 26/07/19 - 786.00 Dividend on 3,700 Shares 31/01/20 - 335.84
Ferguson Plc (Jersey) Dividend on 447 Shares 30/04/19 - 215.05 Dividend on 447 Shares 28/11/19 - 502.70
Fidelity Special Values Plc Dividend on 19,275 Shares 26/06/19 - 404.78 Dividend on 19,275 Shares 15/01/20 - 703.54 Dividend on 19,275 Shares 15/01/20 - 289.13
F & C Investment Trust Plc Dividend on 13,250 Shares 08/05/19 - 371.00 Dividend on 13,250 Shares 01/08/19 - 384.25 Dividend on 13,250 Shares 01/11/19 - 384.25 Dividend on 13,250 Shares 31/01/20 - 384.25
General Accident 8 7/8% Pref Dividend on 30,000 Shares 01/07/19 - 1,331.25 Dividend on 30,000 Shares 01/01/20 - 1,331.25
GlaxoSmithKline Plc Dividend on 2,500 Shares 11/04/19 - 575.00 Dividend on 2,500 Shares 11/07/19 - 475.00 Dividend on 2,500 Shares 10/10/19 - 475.00 Dividend on 2,500 Shares 09/01/20 - 475.00
HSBC Holdings Plc Dividend on 5,975 Shares 08/04/19 - 951.64 Dividend on 5,975 Shares 05/07/19 - 468.25 Dividend on 5,975 Shares 26/09/19 - 480.00 Dividend on 5,975 Shares 20/11/19 - 466.04
Imperial Brands Plc Dividend on 675 Shares 28/06/19 - 211.14 Dividend on 675 Shares 30/09/19 - 211.14 Dividend on 675 Shares 31/12/19 - 486.00 Dividend on 675 Shares 31/03/20 - 486.07
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Schedule 2
Investment Income Tax Credit/ Amount Due Date Deducted Received £ £
Johnson Matthey Plc Dividend on 1,284 Shares 06/08/19 - 799.29 Dividend on 1,284 Shares 04/02/20 - 314.58
JP Morgan Global Growth & Income Plc Dividend on 18,500 Shares 05/07/19 - 579.05 Dividend on 18,500 Shares 04/10/19 - 603.10 Dividend on 18,500 Shares 03/01/20 - 603.10 Dividend on 18,500 Shares 03/04/20 - 603.10
Land Securities Group Plc Property distribution on 4,453 Shares 12/04/19 100.64 402.55 Property distribution on 4,453 Shares 25/07/19 103.76 415.02 Property distribution on 4,453 Shares 04/10/19 - 516.55 Property distribution on 4,453 Shares 03/01/20 - 516.55
Lloyds Banking Group Plc 9.25% Irr Pref Dividend on 28,500 Shares 31/05/19 - 1,318.13 Dividend on 28,500 Shares 30/11/19 - 1,318.13
L'Oreal S A Dividend on 230 Shares 30/04/19 228.16 532.38
Meggitt Plc Dividend on 5,500 Shares 03/05/19 - 624.25 Dividend on 5,500 Shares 04/10/19 - 305.25
Novartis AG (Switzerland) Dividend on 600 Shares 06/03/20 505.09 938.02
Prudential Plc Dividend on 2,850 Shares 17/05/19 - 774.64 Dividend on 2,850 Shares 26/09/19 - 468.83
RELX Plc Dividend on 1,700 Shares 04/06/19 - 675.68 Dividend on 1,700 Shares 02/09/19 - 309.40
Renishaw Plc Dividend on 1,235 Shares 08/04/19 - 172.90 Dividend on 1,235 Shares 31/10/19 - 568.10
Royal Dutch Shell Plc Dividend on 2,463 Shares 24/06/19 - 910.57 Dividend on 2,463 Shares 23/09/19 - 936.19 Dividend on 2,463 Shares 18/12/19 - 880.03 Dividend on 2,463 Shares 23/03/20 - 896.53
Page 23 of 26 The Hobart Charitable Trust
Schedule 2
Investment Income Tax Credit/ Amount Due Date Deducted Received £ £
Schlumberger Ltd (Curacao) Dividend on 710 Shares 12/04/19 - 270.96 Dividend on 710 Shares 12/07/19 - 282.15 Dividend on 710 Shares 14/10/19 - 280.90 Dividend on 710 Shares 10/01/20 - 270.07
Segro Plc Property distribution on 3,250 Shares 02/05/19 86.13 344.50 Dividend on 3,250 Shares 23/09/19 - 204.75
Smith & Nephew Plc Dividend on 3,800 Shares 08/05/19 - 645.62 Dividend on 3,800 Shares 30/10/19 - 425.22
Unilever Plc Dividend on 1,350 Shares 05/06/19 - 478.71 Dividend on 1,350 Shares 11/09/19 - 497.07 Dividend on 1,350 Shares 04/12/19 - 482.76 Dividend on 1,350 Shares 18/03/20 - 468.72
Victrex Plc Dividend on 1,450 Shares 28/06/19 - 238.21 Dividend on 1,450 Shares 21/02/20 - 818.99
Vodafone Group Plc Dividend on 9,000 Shares 02/08/19 - 335.26 Dividend on 9,000 Shares 07/02/20 - 341.80
Wood Group (John) Plc Dividend on 4,944 Shares 16/05/19 - 905.86 Dividend on 4,944 Shares 26/09/19 - 462.81
Worldwide Healthcare Trust Plc Dividend on 2,825 Shares 16/07/19 - 565.00 Dividend on 2,825 Shares 09/01/20 - 183.63
WPP Dividend on 1,375 Shares 08/07/19 - 512.88 Dividend on 1,375 Shares 04/11/19 - 312.13
54,586.91 Add Recoverable tax deducted from property income distributions 290.53
54,877.44
Page 24 of 26 The Hobart Charitable Trust
Schedule 3
Interest (Gross) £ £ Bank of Scotland Solicitors Deposit Account Interest to 09/04/19 (£7.06 less £5.78 accrued) 1.28 Interest to 09/05/19 9.80 Interest to 09/06/19 8.62 Interest to 09/07/19 5.91 Interest to 09/08/19 11.86 Interest to 09/09/19 14.03 Interest to 09/10/19 12.92 Interest to 09/11/19 14.08 Interest to 09/12/19 14.64 Interest to 09/01/20 14.21 Interest to 09/02/20 11.84 Interest to 09/03/20 8.18 Interest accrued at 05/04/20 1.21 128.58
Speirs & Jeffrey Limited Interest to 31/05/19 (£7.93 less £1.72 accrued) 6.21 Interest to 30/08/19 2.52 Interest to 29/11/19 0.13 8.86
137.44
Schedule 4
Charitable donations £
03/06/19 Royal Voluntary Service 5,000.00 03/06/19 Scottish Opera 7,000.00 03/10/19 Brighter Future International 5,000.00 27/11/19 Glasgow City Mission 3,000.00 20/12/19 TY Gobaith 2,000.00 29/01/20 Llangollen International Musical Eisteddfod 18,000.00 02/04/20 Hope House Children's Hospice 2,000.00
42,000.00
Page 25 of 26 The Hobart Charitable Trust
Schedule 5
Investment Management Costs £
07/06/19 Speirs & Jeffrey Ltd - portfolio management fee 1,141.48 01/10/19 Rathbones Investment Management Ltd - portfolio management fee 1,588.82 01/01/20 Rathbones Investment Management Ltd - portfolio management fee 1,216.82
3,947.12
Schedule 6
Administration Expenses Capital Revenue £ £
16/07/19 Dentons UK and Middle East LLP business account (interim) 809.00 Value added tax thereon 161.80 10/10/19 Dentons UK and Middle East LLP business account (interim) 809.00 Value added tax thereon 161.80 04/12/19 Parkhill Mackie & Co, examination fee for year to 05/04/19 258.00 258.00 Less: provision in previous account (258.00) (258.00) 16/01/20 Dentons UK and Middle East LLP business account (interim) 809.00 Value added tax thereon 161.80
Provision for: Dentons UK and Middle East LLP business account (interim) 809.00 Value added tax thereon 161.80 Dentons UK and Middle East LLP business account (final) 534.00 690.00 Value added tax thereon 106.80 138.00 Parkhill Mackie & Co, examination fee for year to 05/04/20 264.00 264.00
4,788.00 1,092.00
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