What changed in this filing

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Item 1. Financial Statements

2020-08-07 compared with 2020-05-08 · 55 added, 18 removed, 197 unchanged (27% of the section changed)

2 unchanged sentences

Statements of Financial Condition

March 31, 2020 and December 31, 2019

March 31, 2020

June 30, 2020 and December 31, 2019

June 30, 2020

December 31, 2019

3 unchanged sentences

Receivable from accrued interest

Redemptions payable

Accrued Sponsor’s fee

3 unchanged sentences

Redeemable Capital Shares, at redemption value, no par value,

18,000,000 authorized — 1,300,000 issued and outstanding

23,000,000 authorized — 950,000 and 1,300,000 issued and

outstanding, respectively

Shareholders’ Equity:

4 unchanged sentences

Statements of Comprehensive Income

For the Three Months Ended March 31, 2020 and 2019

Three Months Ended March 31,

For the Three and Six Months Ended June 30, 2020 and 2019

Three Months Ended June 30,

Six Months Ended June 30,

Interest Income

7 unchanged sentences

Statements of Changes in Shareholders’ Equity and Redeemable Capital Shares

For the Three Months Ended March 31, 2020

For the Three Months Ended June 30, 2020

Retained Earnings

1 unchanged sentence

Capital Shares

Balance at December 31, 2019

Balance at March 31, 2020

Purchases of Shares

6 unchanged sentences

Redemption Value

Balance at June 30, 2020

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

Invesco CurrencyShares ® British Pound Sterling Trust

Statements of Changes in Shareholders’ Equity and Redeemable Capital Shares

For the Three Months Ended June 30, 2019

Retained Earnings

Shareholders'

Capital Shares

Balance at March 31, 2019

Purchases of Shares

Redemption of Shares

Net Increase (Decrease) due to Share Transactions

Net Comprehensive Income (Loss)

Adjustment of Redeemable Capital Shares to

Redemption Value related to Retained Earnings

Adjustment of Redeemable Capital Shares to

Redemption Value

Balance at June 30, 2019

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

1 unchanged sentence

Statements of Changes in Shareholders’ Equity and Redeemable Capital Shares

For the Three Months Ended March 31, 2019

For the Six Months Ended June 30, 2020

Retained Earnings

10 unchanged sentences

Redemption Value

Balance at March 31, 2019

Balance at June 30, 2020

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

Invesco CurrencyShares ® British Pound Sterling Trust

Statements of Changes in Shareholders’ Equity and Redeemable Capital Shares

For the Six Months Ended June 30, 2019

Retained Earnings

Shareholders'

Capital Shares

Balance at December 31, 2018

Purchases of Shares

Redemption of Shares

Net Increase (Decrease) due to Share Transactions

Net Comprehensive Income (Loss)

Adjustment of Redeemable Capital Shares to

Redemption Value related to Retained Earnings

Adjustment of Redeemable Capital Shares to

Redemption Value

Balance at June 30, 2019

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

Invesco CurrencyShares ® British Pound Sterling Trust

Statements of Cash Flows

For the Three Months Ended March 31, 2020 and 2019

Three Months Ended March 31,

For the Six Months Ended June 30, 2020 and 2019

Six Months Ended June 30,

Cash flows from operating activities

19 unchanged sentences

Notes to Unaudited Financial Statements

March 31, 2020

June 30, 2020

Note 1 – Background

12 unchanged sentences

The secondary account is also used to account for interest earned, if any, on the primary deposit account, pay Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis.

This Quarterly Report (the “Report”) covers the three months ended March 31, 2020 and 2019.

This Quarterly Report (the “Report”) covers the three and six months ended June 30, 2020 and 2019.

The accompanying unaudited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.

37 unchanged sentences

These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from negative interest rates, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $ 100,000 per year.

The only expense of the Trust during the three months ended March 31, 2020 was the Sponsor’s fee.

The only expense of the Trust during the three and six months ended June 30, 2020 and 2019 was the Sponsor’s fee.

Federal Income Taxes

25 unchanged sentences

British Pound Sterling principal deposits are held in a British Pound Sterling-denominated, interest-bearing demand account.

The interest rate in effect as of March 31, 2020 was an annual nominal rate of 0.00 %.

For the three months ended March 31, 2020, there were British Pound Sterling principal deposits of 19,388,364 , British Pound Sterling principal redemptions of 19,389,965 and British Pound Sterling withdrawals (to pay expenses) of 14,730 , resulting in an ending British Pound Sterling principal balance of 126,028,514 .

This equates to 156,269,080 USD.

The interest rate in effect as of June 30, 2020 was an annual nominal rate of 0.00 %.

For the six months ended June 30, 2020, there were British Pound Sterling principal deposits of 33,913,843 , British Pound Sterling principal redemptions of 67,832,916 and British Pound Sterling withdrawals (to pay expenses) of 111,868 , resulting in an ending British Pound Sterling principal balance of 92,013,904 .

This equates to 113,692,436 USD (which includes USD redemptions payable and subscriptions receivable).

For the year ended December 31, 2019, there were British Pound Sterling principal deposits of 121,214,247 , British Pound Sterling principal redemptions of 101,821,260 and British Pound Sterling withdrawals (to pay expenses) of 54,267 , resulting in an ending British Pound Sterling principal balance of 126,044,845 .

This equates to 141,290,062 USD.

This equates to 166,977,997 USD (which includes USD subscriptions receivable).

Net interest, if any, associated with creation and redemption activity is held in a British Pound Sterling-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.

36 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements