COIF Charity Funds - CCLA

COIF Charities Investment Fund
Notes to the Accounts
31 December 2006
Currency
Fixed rate
financial assets
£’000
Weighted average
interest rate
%
Weighted average
period for which
rate is fixed
Years
Sterling
Euro
US Dollar
Yen
51,560
10,963
4,714
805
4.76
3.98
3.83
1.09
13.80
10.22
3.61
3.97
31 December 2005
Currency
Fixed rate
financial assets
£’000
Weighted average
interest rate
%
Weighted average
period for which
rate is fixed
Years
Sterling
Euro
US Dollar
Yen
53,204
12,661
5,422
-
4.15
3.11
2.85
-
11.3
7.5
5.7
-
All financial liabilities are due to be settled within one year, or on demand.
13. Contingent liabilities
There were no contingent liabilities at 31 December 2006 (31.12.2005, £nil).
14. Unquoted and other investments
Unquoted investments include the Investment Fund’s holding of 25% of the issued shared capital of CCLA
Investment Management Limited, which provides investment management and administrative services to the COIF
Charity Funds. The valuation of the holding is based on a discounted market value calculation reviewed quarterly.
Not more than 20% in value of the Fund may be invested in units in Authorised Unit Trust Schemes and collective
investment and deposit schemes as provided in the Fund’s Scheme. At 31 December 2006, 9.0% (31.12.2005,
9.0%) of the value of the Fund was held in units in the COIF Charities Property Fund and 2.3% (31.12.2005, 1.2%)
of the value of the Fund was held in the COIF Charities Deposit Fund. At 31 December 2006, 0.1% (31.12.2005,
0.1%) of the value of the Fund was held in Authorised Unit Trust Schemes.
At 31 December 2006 the COIF Charities Investment Fund held 61.1% (31.12.2005, 64.4%) of the COIF Charities
Property Fund which may not be readily realisable. The Manager may impose a period of notice or delay not
exceeding six months before carrying out a redemption of units in that Fund if it is deemed to be necessary to
protect the interests of unitholders of the Fund or to permit properties to be sold to meet a redemption.
15. Board remuneration
The Board members receive no remuneration from COIF Charity Funds. Mr R. Fitzalan Howard is a Director of
CCLA Investment Management Limited and receives remuneration from CCLA Investment Management Limited,
which is disclosed in that Company’s accounts.
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