King's College Hospital Charity - Annual Report & Accounts 2020-21 - Flipbook - Page 44
Financial Statements
5 Balance Sheet
5.1. Investments
Net gain Market value
/(loss) on at 31 March
2020
revaluation
£’000
£’000
Market value
at 1 April
2019
£’000
Acquisitions
at cost
£’000
Proceeds of
disposals
£’000
Fees
deducted
from capital
£’000
UK equities
7,788
1,917
(1,352)
-
(1,738)
6,615
Overseas equities
8,038
1,693
(2,508)
-
(613)
6,610
Fixed interest
1,868
303
(428)
-
(61)
1,682
Alternatives
3,051
840
(857)
-
(98)
2,936
3,239
923
(100)
-
-
4,062
356
(4,753)
5,145
(105)
-
643
3,207
-
-
-
318
3,525
27,547
923
(100)
(105)
(2,192)
26,073
27,396
23,076
(23,153)
(68)
296
27,547
Listed Investments
Other:
Sterling liquidity fund
Uninvested cash
Social investment
Year ended 31 March 2019
The historical cost of the investments held as at 31
March 2020 was £28,612,000 (2019: £27,779,000).
The net loss on revaluation comprised: realised gains
£114,000 (£2018/19 £528,000) and £2,305,000 (2018/19
£232,000) of unrealised losses.
The social investment, a long leasehold property, was
professionally valued as at 31st March 2020 by Roger
Dunlop, MRICS of Ashwell Rogers LLP in accordance
44
K I N G’ S CO L L E G E H O S P I TA L C H A R I T Y A N N UA L R E P O R T A N D A CCO U N T S 2 01 9/ 2 0
with RICS valuation – Global Standards 2017
(incorporating the International Valuation Standards)
and the UK national supplement 2018 (“the Red Book”.
Consideration was also made of guidance issued by
RICS in relation to preparing valuations following the
outbreak of COVID-19. An adjustment has been made to
increase the carrying value of the investment from cost
to the fair value determined from the valuation
of £3,525,000.