2021-03-31-accounts

Contents
Trustees and Advisers . .
Trustees' Report.
Statement ofTrustees' Responsibilities	.
Report ofthe Independent Auditors. .
Statement of Financial Activities. .
Statement of Financial Position.
Statement ofCash Flows ..................
Notes to the Financial Statements. .

Advisers	Advisers
IndependentAuditora:		Dunkley's
		Woodland Grange
		Woodlands Lane
		Bradley Stoke
		Bristol BS324JY
Investment	Manager:	BlackRock Investment		Management	(UK) Limited
		12Throgmorton Avenue
		London EC2N 2DL
Bankers:		Lloyds Bank
		1"floor
		1 Piccadilly
		London W1J OAA
Solicitors:		Dechert LLP
		160Queen Victoria Street
		London EC4V 4QQ
Administrator:		The Trust Partnership	Limited
		6 Trull Farm Buildings
		Tetbury
		Gloucestershire GLB BSQ
Charity Insurance:		Chubb European Group		Ltd
		100Leadenhall Street
		London EC3A3BP

				Note	2021	2020
						8
Income and Endowments
Income from investments					346,376	371,607
Other income —donations					1,800
Total income					348,176	371,807
Expenditure on Charttabte	activities				(402,867)	(404,344)
Grant making activities
Total Expenditure					(402,867)	(404,344)
Net (expenditure) and net	movement	on funds	before
gain I (loss) on investments					(54,691)	(32,737)
Other recognised gains and losses
Net gain I (loss) on investmsnts					2,195,249	(807,934)
Net movement in funds				13	2,140,558	(840,671)
Reconciliation of Funds
Fund balances brought forward at 1 April					10,298,300	11,138,971
Fund balances carried forward at 31 INarch				13	12,438,858	10,298,300

			Note	2021	2020
Fixed Assets
Tangible fixed	assets		10		110
Investments			11	12,332,126	10201,233
				12,338,176	10,201,343
Current Assets
Debtors			12	75,460
Cash at bank	and in hand		12	36,715	49,103
Total Current	Assets			112,175	110,007
Current Llabllldes
Creditors: amounts falling due within one year			12	(112493)	(13,110)
Net Current Assets				100,682	96,957
Net Assets				12,438,858	10,298,300
The funds of	the Charity
Unrestricted	income funds/Total	Charity funds		12,438,858	10,298,300
The notes on pages 15to 21 form part ofthese			financial statements.

			Note	Total	Total
				Funds	Funds
				2021	2020
					8
Net cash used in operating	activities		14	(417,070)	(465,371)
Cashflows from Investing	activities
Interest and dividends			5	346,378	371,607
Proceeds from sale of investments			11	390,000	125,000
Purchase ofinvestments			11	(331,894)	(98,664)
Net cash provided by investing actlvides				404,682	397,923
Change In cash and cash	equivalents	In the year		(12,388)	(67,448)
Cash and cash equivalents	brought forward			49,103	116,551
Cash snd cash equivalents	carried forward			36,716	49,103

		2021	2020
		E
Pooled investment	vehicles	346,376	371,607
Total investment	income	346,376	371,607

6.	Analysis of	chari	table activities
				2021	2020
	Grant funded	activity		187,221	169,635
	Support costs	(note	7)	212,147	231,638
	Governance (note 8)			3,499	3,071
				402,867
7.	Support costs			2021	2020
	Staff costs			141,286	137,983
	Administration	expenses		48,480	49,565
	Car and travel	expenses		17,180	39,888
	Other costs			5,221	4,202
	Total support	costs		212,147	231,638
	Governance	costs
				2021	2020
					6
	Auditors' remuneration			1,440	1,440
	Trustees' Indemnity		Insurance	2,059	1,631
	Total governance costs			3,499	3,071
9.	Analysis of	staff	costs
				2021	2020
					6
	Salaries			102,767	100,063
	National Insurance contributions			11,413	11,287
	Pension costs			27,086	26,333
	Total staff costs			141,268	137,983

0.	Tangible	fixed as	sets
				Computer		equipment					2021
				Cost
				At	1 April	2020					1,994
				Additions		in year
				At	31 March 2021						1,994
				Depreciation
				At	1 April	2020					1,884
				Charge for the year							110
				At	31 March 2021						1,994
				Net book		value
				At	31 March 2021
				At	31 March 2020						110
11.	Investments
										2021		2020
											8	6
	Movement	In Investments
	Market value brought forward									10,201,233		11,035,483
	Add: additions to investment			at cost						331,694
	Disposals	at carrying	value							(390,000)		(125,000)
	Add/(Less)	net gains/(losses)			on revaluation					2,196,249		(807,934)
	Market value ss at		31 March							12,338,176		10,201,233
	An analysis of market value at year-end						is detailed		below
											2021f	2020
	Pooled investment		vehides	—Unit Trusts						12,338,170		10,201,233
	The following table sets				out the	investments		ofthe Trust
									2021	2021	2020	2020
									'Yo	Value	0/	Value
												8
	Security
	Blackrock Charities Growth &Income Fund							100.00		12,338,176	100.00	10,201,233
												19

								2021	2020
								5	f
Debtors: amounts		falling due within one year
Prepayments	and accrued income							75,460
Cash held
Cash at bank	end in		hand					38,715	49,103
Total cunsnt	assets							112,175	110,067
Creditors: amounts			falling		due within one year
Administration	charges due							10,063	11,670
Professional	fees							1,440	1,440
Total current	llabllides							11,493	13,110
Unrestricted		income			funds
				Balance		Incoming	Charitable	Rea8sed	Balance
					April	resources	expenditure	and	31 INarch
					2020		costs	unrealised	2021
								gain
						6		8
Unrestricted
Income Fund			10	298 360		348 178	402 867	2 19524	12438868

				2021	2020
					6
Net movement in funds				2,140,568	(840,671)
Add depreciation charges				110	665
Deduct interest income shown		in investing	activities	(346,376)	(371,607)
(Deduct)/add net (gain)/loss	on investments			(2,195,249)	807,934
Increase in debtors				(14,496)
Decrease in creditors				(1,617)	(B,848)
Net cash used in operating		activities		(417,070)	(465,371)