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2021-04-05-accounts

THE ANDREW SMILEY CHARITABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THF. YEAR FNDFD 5 APRII. 2021

THE ANDREW SMILEY CHARITABLE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

Page
Trustee's Annual Report 1 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Schedule of Investments and Income 8 - 11
Notes to the Financial Statements 12 - 16

THE ANDREW SMILEY CHARITABLE TRUST

TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021

The Trustee is pleased to present its report together with the financial statements of the charity for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.

Objectives and activities

The Trustee may pay or apply the unrestricted capital and income of the Charity to or for such charitable institutions or purposes as the Trustee in its absolute discretion thinks fit.

The Trustee carries out these objectives by regularly considering appeals from other charities and making policy and funding decisions.

Public Benefit

The Trustee confirms that it has complied with the duty in section 17 of the Charities Act 2011 and has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and setting the donations policy for the year. The benefit that arises is the provision of funding to organisations that demonstrate charitable purpose.

Achievements and performance

During the year the Trustee made grants totalling £120300 [2020: £23240] in furtherance of its objectives and continues to make grants to charitable organisations both on a one-off and recurring basis. The larger grants awarded during the year are stated in the notes to the financial statements.

The Trustee is pleased with the progress made in the financial year ended 5 April 2021 and looks forward to expanding its work with many other charities in the years to come.

Financial review

The Trustee received £9738 in investment income in the current year [2020: £16871] and the Trustee has achieved its intention of spending the income on charitable activities.

Net outgoing resources for the year were £65843 [2020: outgoing £11304]. In addition the Trust realised a loss on investments of £20503 [2020: gain £229] and made an unrealised gain of £65490 [2020: loss £75862]. The net outgoing movement on funds was £20856 [2020: outgoing £86937].

Investment policy

The Trustee has instructed the Investment Manager that the portfolio is to be invested to produce a suitable mixture of income in order that the level of grants may be maintained and capital growth to secure the future of the Charity over the coming years. The Trustee is confident that the future income stream is secure.

The investment policy is monitored by regular investment reports and meetings with the Investment Manager. A breakdown of the investments held during the financial year ended 5 April 2021 can be seen on page 8 - 11.

THE ANDREW SMILEY CHARITABLE TRUST

TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021

Risk Management

The major risks to which the Charity is exposed have been identified and steps taken to mitigate those risks.

The main risk to the Charity concerns the investments held. The Trustee has mitigated this risk by engaging Cazenove Capital to manage the investments and monitor the portfolio and financial risks to the Charity. The Trustee regularly reviews the valuation of investments and the income stream generated.

The Trustee has satisfied itself that the trust is a going concern and has adequate resources to continue in operational existence for the foreseeable future. The charitable activities are funded by the investment portfolio and although Covid-19 did have a negative impact on this, the portfolio has recovered with sufficient value to support continued grant making.

Reserves policy

It is the intention of the Trustee to sustain the unrestricted funds at a level which will provide sufficient funds for the level of grants paid and to cover the Charity's management and administration costs.

At the Balance Sheet date the unrestricted reserves amounted to £276545.

Future Plans

The Trustee does not envisage any material change to the operation of the Charity in the long-term and the investments will continue to be managed on a similar basis as they are now. Notwithstanding this, the Trustee remains flexible in terms of the type of organisations it supports.

Structure, governance and management

The Trust has charitable status and was set up by Mr Andrew Smiley by Deed dated 31 March 1993.

The management of the Charity is vested in the Trustee and they actively review the perceived major risks which the Charity faces and the Trustee is satisfied that the systems in place mitigate those risks.

The Trustee has received appropriate briefing on its responsibilities under the law relating to charities and its duty to ensure that its charitable activities are for the public benefit. The appointment of new trustees is vested in the Settlor during their life. The selection of future trustees will have regard to the skills, knowledge and experience needed for the effective administration of the Charity. Induction and training for trustees is provided where relevant.

Reference and administrative information

A registered charity, registered with the Charity Commissioners for England and Wales as number 1020124.

Principal Office: 4th Floor 10 Bruton Street London W1J 6PX

THE ANDREW SMILEY CHARITABLE TRUST

TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021

The Trustee is Dickinson Trust Limited.

The Directors of Dickinson Trust Limited are: The Hon H M T Gibson (Chairman) Mr M W Burrell (Retired 9 September 2020) The Viscount Cowdray The Hon C A Pearson The Hon P N Gibson The Hon B C Gurdon Mr J R E Smith Mr R C P Troughton Mrs S J Burrell (Appointed 9 September 2020) Mr J V Naunton Davies (Retired 9 September 2020) Mr S J Atkinson Mrs F A Rice (Appointed 9 September 2020) Mrs N T Eagle Mr M P Harris Solicitors: Currey & Co LLP 33 Queen Anne Street London W1G 9HY

Independent Examiner: Harriet Sergeant Martin and Company Audit Limited 25 St Thomas Street Winchester Hampshire SO23 9HJ Banker: Royal Bank of Scotland plc 119-121 Victoria Street London SW1E 6RA Banker: Schroder & Co Limited 1 London Wall Place London EC2Y 5AU

Investment Manager: Cazenove Capital 1 London Wall Place London EC2Y 5AU

THE ANDREW SMILEY CHARITABLE TRUST

TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021

Statement of Trustee's Responsibilities

The Trustee is responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and regulations.

The law applicable to charities in England and Wales requires the trustee to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustee must not approve the financial statements unless it is satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements the trustee is required to:

The Trustee is responsible for keeping adequate accounting records which are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

3 February 2022

Approved by the Trustee on ____ and signed on its behalf by:

DICKINSON TRUST LIMITED

Director

THE ANDREW SMILEY CHARITABLE TRUST INDF.PF.NDF.NT F,XAMIIYER'S RF.PORT FOR THE YEAR ENDED 5 APRIL 2021 I report to the charity trustee on my examination of the accounts of the charity for the year ended 5 April 2021 which are $¢1 out on pag¢5 6-16 . Responsibilities and basis of report As the charity'5 tn15le¢ you are responsible for the preparation of thc awounts in accordanc¢ with the rcquirctncnls of thc Charitie5 Act 2011 ("thc A¢t")- I report in respect of my examination of the charity's accounts carried oul under swtion 145 of the Act and in carrying out rny examination I have followed all thc applicable Directions given by the ChaTity Commission under seclion 145(5Xb) of the Act. Independent ¢Iaminer's statement I have compleled my examination. I cot7firn) that no material matters have come to my atteniion in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by seclion 130 of the Act. or the acGount.s do not accord wilh those r¢¢ords' or the accounis do nut comply with the applicable requirements concerning the form and ¢ont¢nt of accounts set out in the Charities (Accounts and R¢porls) Regulations 2008 other than any rquirement that the a¢¢ounts give a 'tru¢ and fair view, which is not a mailer wnsidercd a5 part of an independent examination. J have no concerns and have come across no oiher matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understsnding of the accounts to be reached. Harri¢t Sergeant Martin and Company Audit Limited 25 St I'homas Street Winchester Hampshire S023 9HJ 2£ Date:

THE ANDREW SMILEY CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021

2021
Note
Unrestricted
funds
£
Income from:
Donations and legacies
4
50,000
Investments
5
9,738
Total
59,738
Expenditure on:
Raising funds
6
2,296
Charitable activities
7
123,285
Total
125,581
Net income/(expenditure)
(65,843)
Other recognised gains/(losses):
Gains/(losses) on investment assets
11
44,987
Net movement in funds
(20,856)
Reconciliation of funds:
Total funds brought forward
16
297,401
Total funds carried forward
276,545		 2021
2020
Total
Prior year
funds
total funds
£
£
50,000
-
9,738
16,871
59,738
16,871
2,296
3,400
123,285
24,775
125,581
28,175
(65,843)
(11,304)
44,987
(75,633)
(20,856)
(86,937)
297,401
384,338
276,545
297,401		 2021
2020
Total
Prior year
funds
total funds
£
£
50,000
-
9,738
16,871
59,738
16,871
2,296
3,400
123,285
24,775
125,581
28,175
(65,843)
(11,304)
44,987
(75,633)
(20,856)
(86,937)
297,401
384,338
276,545
297,401
16,871
3,400
24,775
28,175
(11,304)
(75,633)
(86,937)
384,338
297,401

THE ANDREW SMILEY CHARITABLE TRUST

BALANCE SHEET AS AT 5 APRIL 2021

Note 2021 2020
Total Prior year
funds funds
£ £
Fixed Assets:
Investments 11 267,915 286,073
Total Fixed Assets 267,915 286,073
Current Assets:
Debtors 12 405 211
Cash at bank 13 10,578 12,192
Total Current Assets 10,983 12,403
Liabilities:
Creditors: Amounts falling due within one year 14 (2,353) (1,075)
Net Current Assets or Liabilities 8,630 11,328
Total Net Assets or Liabilities 276,545 297,401
The Funds of the Charity:
Unrestricted funds 16 276,545 297,401
Total Charity Funds 276,545 297,401
Approved by the Trustee on ____ and signed on its behalf
3 February 2022		 by:

DICKINSON TRUST LIMITED

Director

THE ANDREW SMILEY CHARITABLE TRUST

SCHEDULE OF INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021

Holding Holding Market Value Market Value Additions Disposals Profit Holding Book Value Market Value Percentage Gross
6 April 2020 6 April 2020 Cost Proceeds (Loss) 5 April 2021 5 April 2021 5 April 2021 of total Income
£ £ £ £ £ £ £
3i Infrastructure
GBP Shares 5,500 13,228 4,591.00 1,121.32 3,700 7,132.12 10,971 4.09 % 351.50
Ashmore Emerging Markets
Total Return Fund Z3 GBP-hedged distrib 14,028.78 96.352 14,028.78 11,263 4.21 % 402.11
Ashmore Emerging Markets Total Return Fd
SICAV - Z2 (Inc) GBP Hedged Dist Shares
194.42 13,679 6.68 18,390.18 (1,897.54) 80.76
British American Tobacco
Ordinary 25p Shares 350 10,290 3,184.20 (729.36) 240 8,538.69 6,517 2.43 % 562.82
Chubb Limited
50 4,206 1,810.36 (261.94) 30 3,108.46 3,450 1.29 % 83.30
Cisco Systems
Inc 160 5,113 1,664.22 (82.42) 110 3,842.61 4,136 1.54 % 136.81
Diageo
Ordinary 28 101/108p Shares 400 9,832 3,784.00 301.60 250 5,803.99 7,518 2.81 % 215.82
Doric Nimrod Air Two Limited
Ord C Shares 10,000 6,700 2,209.89 (5,839.80) 6,700 16,343.31 5,092 1.90 % 1,206.00
Eli Lilly Co
60 6,855 2,282.44 477.89 40 3,609.10 5,359 2.00 % 92.34
Findlay Park Funds
American Fund USD Income Shs 50,000.00 440.0000 50,000.00 53,398 19.93 %
Greencoat UK Wind
Registered Shares 8,025 10,609 3,720.39 223.35 5,400 7,193.91 6,988 2.61 % 383.40

THE ANDREW SMILEY CHARITABLE TRUST

SCHEDULE OF INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021

Holding Market Value Market Value Additions Disposals Profit Holding Book Value Market Value Percentage Gross
6 April 2020 6 April 2020 Cost Proceeds (Loss) 5 April 2021 5 April 2021 5 April 2021 of total Income
£ £ £ £ £ £ £
Hipgnosis Songs Fund Limited
Ordinary GBP Shares 6,000 5,760 1,935.03 (89.97) 4,000 4,050.00 4,960 1.85 % 205.00
IG Group Holdings
Ord GBP0.005 shares 1,800 12,015 8,392.80 1,710.91 700 4,252.11 6,367 2.38 % 453.60
Imperial Brands Plc
GBP0.10 400 6,254 2,309.50 (1,206.05) 250 5,859.26 3,721 1.39 % 344.29
Intel Corp
Ordinary Shares 140 6,199 2,365.59 460.17 90 3,429.77 4,202 1.56 % 90.26
International Public Partnerships
Ordinary GBP0.0001 Shares 10,000 14,400 5,128.93 915.16 6,700 8,555.23 11,269 4.21 % 487.09
iShares II
USD High Yield Corp Bond UCITS ETF
330 23,924 16,161.34 (282.04) 110 8,221.69 8,279 3.09 % 844.77
J P Morgan Global Emerging Markets IT
Shares 9,000 8,460 2,938.53 (805.84) 6,000 7,488.75 8,700 3.25 % 336.00
Kier Group
Ord 1p shares 1,577 1,087 400.77 (4,686.22) 1,067 10,642.77 960 0.36 %
Lockheed Martin
Corp 25 7,168 2,903.22 712.99 15 3,285.34 4,025 1.50 % 113.66
M & G Strategic Corporate Bond Fund
shares 3,000 30,599 30,784.91 507.24 271.58
M & G Strategic Corporate Bond Fund
shares 20,185.11 22,376.688 20,185.11 22,777 8.50 % 507.11

THE ANDREW SMILEY CHARITABLE TRUST

SCHEDULE OF INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021

Holding Market Value Market Value Additions Disposals Profit Holding Book Value Market Value Percentage Gross
6 April 2020 6 April 2020 Cost Proceeds (Loss) 5 April 2021 5 April 2021 5 April 2021 of total Income
£ £ £ £ £ £ £
McDonald's Corp.
Ordinary Shares 40 5,246 1,404.78 (16.66) 30 4,264.33 4,887 1.82 % 115.18
Nb Global Monthly Inc Fd Ltd
Red Ordinary No Par Value GBP
Changed from NB Global Floating Rate Income Fund Redeemable
20,000 13,480 4,518.74 (2,107.10) 13,400 13,452.45 11,015 4.12 % 627.12
Pearson
Ord GBP0.25 1,200 5,734 2,028.00 (2,132.29) 800 8,320.57 6,168 2.30 % 210.00
Pfizer Incorp
Com Stk US$0.5 Par Value 170 4,678 4,610.20 (1,006.84) 63.87
Rio Tinto Plc
Ordinary Gbp0.10 Shares 7,236.54 150 7,236.54 8,220 3.07 %
Royal Dutch Shell
B" Shares Euro 0.07 (UK List)" 600 8,510 7,567.32 (4,560.09) 50.72
Sage Group
Ordinary Shares 2,200 12,280 4,360.00 1,625.00 1,450 5,287.67 9,063 3.38 % 250.13
Samsung Electronics Co Ltd
Sponsored Global Depository shares 10 7,751 10 8,780.16 13,424 5.01 % 232.31
Schroder Oriental Income Fund
Ord GBP 9,000 17,172 11,634.27 1,903.85 4,000 7,784.33 11,160 4.16 % 580.00
Schroder Real Estate Investment Trust
Ordinary Shares NPV 20,000 6,400 2,442.25 (572.28) 13,400 6,120.42 5,347 2.00 % 212.49
Standard Chartered
USD 0.50 Shares 1,029 4,182 1,479.15 (2,997.33) 679 8,684.37 3,328 1.24 %

THE ANDREW SMILEY CHARITABLE TRUST

SCHEDULE OF INVESTMENTS AND INCOME FOR THE YEAR ENDED 5 APRIL 2021

Holding Market Value Market Value Additions Disposals Profit Holding Book Value Market Value Percentage Gross
6 April 2020 6 April 2020 Cost Proceeds (Loss) 5 April 2021 5 April 2021 5 April 2021 of total Income
£ £ £ £ £ £ £
Telenor
ASA 360 4,262 4,338.33 (1,189.06) 171.43
Unitedhealth
Group Inc 4,738.82 20 4,738.82 5,351 2.00 % 56.07
TOTAL: 286,073 96,195.93 159,340.34 (20,503.35) 270,240.66 267,915 100.00 % 9,737.54

THE ANDREW SMILEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

1. Statutory Information

The Andrew Smiley Charitable Trust is a registered charity. The registered number and principal office address can be found in the Report of the Trustee's.

2. Accounting Policies

a) Basis of financial statements preparation

The financial statements of the charity, which is a public benefit entity, have been prepared in accordance with 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)', the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been removed.

The Trustee considers that there are no material uncertainties about the Trust's ability to continue as a going concern.

b) Nature of funds

All funds held are unrestricted and the Trustee is free to use them in accordance with the charitable objects.

c) Fixed asset investments

Investments are stated at market value at the Balance Sheet date. Overseas investments are translated into sterling at the rates ruling at the year end. The Statement of Financial Activities (SOFA) includes the net gains and losses on revaluation and disposals throughout the year.

d) Income

Income is recognised in the SOFA once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

e) Expenditure

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

THE ANDREW SMILEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

f) Charitable grants

Grants payable are recognised in the SOFA when they are approved by the Trustee and the recipient has been informed of the amount to be paid.

g) Foreign currencies

Transactions denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the date of the transaction. At the Balance Sheet date monetary assets and liabilities denominated in a foreign currency are translated at the rate ruling at that date. All exchange differences are dealt with in the SOFA.

h) Irrecoverable VAT

Irrecoverable VAT is written off to the same expense category in which the actual expenditure was incurred.

3. Remuneration of Trustees

In the financial year to 5 April 2021 the Trustee did not receive any remuneration or have its expenses reimbursed by the Charity. Dickinson Trust Limited charged administration expenses of £1955 [2020: £1400].

4.
Donations and legacies
Investments settled by Settlor
5.
Investment income
Income from investments
6.
Expenditure on raising funds
Investment management fees
7.
Charitable activities
Direct
costs
(see note 8)
£
Charitable expenditure
120,300		 2021
£
50,000
50,000
2021
£
9,738
9,738
2021
£
2,296
2,296
Support
costs
(see note 9)
£
2,985		 2020
£
-
-
2020
£
16,871
16,871
2020
£
3,400
3,400
Total
£
123,285

THE ANDREW SMILEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

8. Direct costs

The Charity undertook no direct charitable activities but awarded grants to a number of institutions in furtherance of its charitable objectives. These are as follows:

9.

Dorothy House Foundation
Dogs Trust
Children's Chronic Arthritis Association
Total for the year
Analysis of grants made
Relief of those in need, by reason of youth, age, ill-health,
disability, financial hardship or other disadvantage
Advancement of animal welfare
Support costs
Administration expenses
Independent examination fees
Bank charges
Legal Entity Identification number fee		 Grants to
institutions
£
111,300
9,000
120,300		 Grants to
individuals
£
-
-
-
2021
£
1,955
960
-
70
2,985		 £
110,500
9,000
800
120,300
Total
£
111,300
9,000
120,300
2020
£
1,400
-
60
75
1,535

During the year administration expenses of £1955 were charged by Dickinson Trust Limited (trustee). The amount of £800 plus VAT was charged by Harriet Sergeant of Martin and Company Audit Limited for his Independent Examination of these Financial Statements.

10. Staff costs

There are no employees so consequently no staff costs have been incurred.

11. Fixed asset investments
Market value brought forward
Additions
Less disposal proceeds
Net gains/(losses) on investments
Market value carried forward		 2021
£
286,073
96,195
(159,340)
44,987
267,915		 2020
£
370,812
16,647
(25,753)
(75,633)
286,073

THE ANDREW SMILEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

11. Fixed asset investments (Continued)

Geographical analysis
United Kingdom investments
Overseas investments		 2021
£
118,103
149,771
267,915		 2020
£
157,824
128,249
286,073

The investments were revalued each year up to 5 April 1999. Therefore, there is no historic cost figure available. The book value of the investments at 5 April 2021 is £270241.

Net gains/(losses) on investments includes realised losses for the year of £20503 [2020: gain £229] and unrealised gains on revaluation to market value of £65490 [2020: loss £75862].

12. Debtors
Income Tax recoverable
13. Cash at bank
Royal Bank of Scotland plc
Schroder & Co Limited Income
Schroder & Co Limited Capital
14. Creditors: Amounts falling due within one year
Independent examination fees
Administration Expenses
Payments due to charities
Legal Entity Identification number fee
15. Commitments made
Annual
value
No conditions attached:
Science Museum
1,000
Conditions attached:
Wilstshire Air Ambulance		 2021
£
405
405
2021
£
8,454
1,918
206
10,578
2021
£
960
323
1,000
70
2,353
Number
of years
1		 2020
£
211
211
2020
£
3,783
-
8,409
12,192
2020
£
-
-
1,000
75
1,075
Total
£
1,000
1,000
3,000

THE ANDREW SMILEY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

16. Movement in funds
Unrestricted funds:
Balance brought forward
Net movement in funds
Balance carried forward
Net movement in funds included in the above are as follows:
Income
Outgoings
£
£
Unrestricted funds
59,738
(125,581)		 2021
£
297,401
(20,856)
276,545
Gains and
losses
£
44,987		 2020
£
384,338
(86,937)
297,401
Movement
in funds
£
(20,856)