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||||Note|Restricted|Expendable|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|endowment|funds|funds|
||||||fundsf|2021f|2020|
|Receipts||||||||
|Dividends<br>received||||70,244||70,244|91,588|
|Investments<br>income||||22,685||22,685|16,446|
|HMRC Refund||||569||569||
|Sub Total||||93,498||93,498|108,034|
|Receipts from asset 8 investment||||||||
|sales||||||||
|Proceeds from sale of investments||||||||
|less amount<br>reinvested|||||94,913|94,913|108,670|
|Total receipts||||93,498|94,913|188,411|216,704|
|Payments||||||||
|Payments<br>made to beneficiaries||||117,010||117,010|80,000|
|Governance<br>costs:||||||||
|Trustees fees|||||41,421|41,421|43,317|
|Independent<br>examination||fee|||1,170|1,170|2,604|
|Portfolio management|fee||||12,107|12,107|12,464|
|Total payments||||117,010|54,698|171,708|138,385|
|Net receipts<br>/ (payments)||||(23,512)|40,215|16,703|78,319|
|Transfers to / (from) funds||||||||
|Surplus/(Deficit)<br>for year||||23,512|40,215|16,703|78,319|





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|||||Restricted|Restricted||Expendable|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||funds||endowment|funds|funds|
||||||||funds|2021|2020|
|Cash funds||||||||||
|Cash and|bank balances|||at start ofyear|173,565||90,267|263,832|185,513|
|Surplus/(deficit)<br>shown|||on receipts and|||||||
|payments|account||||(23,512)||40,215|16,703|78,319|
|Cash and|bank balances at end ofyear||||150,053||130,482|280,535|263,832|
|||||||||Market valuation||
|||||||||2021|2020|
|||||Fund to which|||asset belongs|f||
|Investments||||||||||
|Brown Shipley Investment||||Portfolio:||||||
|||Fixed Interest||Expendable||endowment||608,811|599,469|
|||Equities||Expendable||endowment||2,587,312|2,178,151|
|||Alternatives||Expendable||endowment||428,669|340,106|
|Total value||ofsecurities|||||Total|3,624,792|3,117,726|
|||||||||2021|2020|
|Assets||||||||||
|Tax paid on investments||||that will be reclaimed||||||
|||Prior years||||||962|962|
|Dividends|due<br>in period||||||||227|
|||||||||962|1,189|
|Liabilities||||||||||
|Examiner|Fees owed to Azets Audit Services|||||||1,224|1,170|
|Trustee Fees owed to Apex Corporate Trustees|||||(UK) Limited|||300||
|||||||||1,524|1,170|





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|Payments|made to ben|eficiaries|||
|---|---|---|---|---|
||||2021|2020|
|Fight for Sight - Institute||of Ophthalmology|40,000|40,000|
|Moorfields|Eye Charity||30,000|40,000|
|Roper Hall|Eye Foundation||47,010||
||||117,010|80,000|



## 

|||||Market|Valuation|
|---|---|---|---|---|---|
|||||2021|2020|
|Investments<br>that individually|||make up 5% + ofthe portfolio:|f.||
|Baillie Gifford American||Fund B|Income|191,079|222,687|
|Fundsmith|LLP Equity|INC NAV||198,332|165,751|
|J P Morgan|US Equity|income Fund||193,394|156,461|
|||||582,805|544,899|