2021-04-05-accounts

THE ARCHER TRUST

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

Registered Charity No 1033534

THE ARCHER TRUST

CONTENTS

	Page
REPORTS
Reference and administrative information	1
Reportofthetrustees	2-4
ReportoftheIndependentExaminer	5
FINANCIAL STATEMENTS
Statement offinancial activities	6
Balance sheet	7
Notestothefinancialstatements	8-13

THE ARCHER TRUST

REFERENCE AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 5 APRIL 2021

REGISTERED CHARITY NUMBER_ 1033534

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||||| |---|---|---|---| |TRUSTEES|MF|Baker|(Chairman)| |CMArcher|(Secretary)| |JN|Archer| |L|Packman| |CS|Wilson| |PRINCIPAL OFFICE|Bourne House| |Wadesmill| |Ware| |Herts|SG12|OTT| |INDEPENDENT EXAMINER|N|Corden ACA| |Summers Morgan| |Sheraton|House,|Lower Road| |Chorleywood| |Rickmansworth| |WD3|5LH| |BANKERS|Barclays Bank PLC| |78|Turners|Hill| |Cheshunt| |EN8|9BW|

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|||||| |---|---|---|---|---| |INVESTMENT|ADVISORS|Investec|Wealth and|Investment Limited| |2|Gresham|Street| |London EC2V 7QN| |Ruffer LLP| |80|Victoria|Street| |London SWIE|5JL|

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1

THE ARCHER TRUST

Annual report of the trustees

for the year ended 5 April 2021

The trustees present their report and the financial statements for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust’s deed, 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 (FRS 102) (effective 1 January 2015).

Structure, governance and management

Constitution

The trust is constituted under a charitable settlement dated 25 January 1994.

Ronald Walter Archer

Ronnie Archer, the inspiration for The Archer Trust, died at the comparatively young age of 62 in 1992. Though he lacked the aggression and overt ambition which are so often associated with success in the business and commercial world, Ronnie rose, it sometimes seemed without effort, through the ranks ofUnilever, until he became a main board director and eventually the company's Vice-Chairman. Inevitably his career brought material rewards, but he was never at home with wealth. Throughout his life he and his wife Catherine applied both his surplus earnings and funds associated with his Archer/Pease family background for the support of good causes. He provided the money; Catherine researched the beneficiaries.

His death did not bring this fruitful parmership to an end, for his estate and the company's generous provision for his widow maintained the surplus. Subsequently The Archer Trust was established by a charitable settlement dated 25" January 1994 and registered as a charity. It is hoped that The Archer Trust will be a suitable memorial for a talented but modest man.

Trustees

The trustees who served during the period from the beginning of the financial period to the date of the signing of this report, together with the reference and administrative information, are given on page 1.

The trustees normally meet twice a year in spring and autumn to consider the position of the trust and to decide on distributions to be made. The trustees do not normally respond to unsuccessful applicants.

At each meeting the trustees review the performance of the investment portfolio from valuations and advice supplied by the broker. At each meeting the trustees confirm regular grants and approve new grants if funds are available. The trustees have the power to distribute for the purposes of the trust all the assets of the trust. They aim to designate and invest the trust's assets so as to maintain a balance between income and capital growth, and to distribute the net income in grants for charitable purposes.

Trustees are appointed based on the skills and expertise required. The number of trustees is not defined in the trust deed. The appointment of any new trustees rests with the existing trustees who are responsible for their induction. New trustees are inducted and trained using relevant material on the Charity Commission website, the Trust’s constitution, recent annual reports and minutes, and through mentoring from existing trustees.

Statement oftrustees” responsibilities

Charity law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and its financial activities for that period.

In preparing those financial statements the trustees are required to:

• a) select suitable accounting policies and then apply them consistently;

• b) make judgements and estimates that are reasonable and prudent, c) state whether the policies adopted are in accordance with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;

• d) prepare financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.

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THE ARCHER TRUST

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

Objectives and activities for the public benefit

Principal objectives

The principal objects of the trust are: 1 To relieve suffering amongst the aged, impotent or poor; 2 To advance education; 3 To advance the Christian religion; and 4 To help such other charitable objects as the trustees may think fit.

Activities

The trust achieves its objectives by making grants to charities.

Grant making policy

Grants are made in accordance with the objectives of the trust. When allocating grants, the trustees favour small charities which provide support to defined groups of disadvantage or marginalised people, which are competently managed and able to provide up-to-date accounts, and which would be significantly assisted by a grant of between £1,000 and £5,000.

Applications for grants are invited in a number of ways: those who are given grants, except for one-off items, are invited to apply again; and the trustees advertise the Trust’s criteria for applications on its website and in a grantmaking trust directory. Any applications for grants should be made in writing to the trust's registered address as shown on page 1.

The coronavirus lockdowns and associated restrictions have meant that many of our beneficiary charities were either unable to operate or severely restricted in what they could do. However, the trustees identified that some of them were in a strong position to provide much needed support to a far greater number of people, especially those providing telephone or online support to those with mental health issues, isolated older people and those suffering or at risk from domestic violence. The trustees took immediate action to send unsolicited supplementary grants to several of our beneficiaries in that position and also to other charities in a strong position to expand their capacity to meet the sudden unexpected demand.

The trustees intend to continue to provide grants in a similar way, retaining flexibility as to the timing and scale of grant making. The trustees recognise that many of our beneficiary charities are in severe financial difficulties as a result of the lockdown, but also that we can only do a limited amount to help. The trustees have therefore decided to focus their support for the time being on enabling charities to adapt and respond to changing need rather than on assisting them to survive. . 7

Public benefit

The trustees confirm they have complied with their duties under section 17(5) of the Charities Act 2011\to refer to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in setting the grant making policy for the year.

Achievements and performance

During the year, grants totalling £156,250 (2020: £240,750) were made to various registered charities and the details are given in note 4 to the financial statements. In view of the modest level of dividends being paid from the investment portfolio, the trustees have transferred £130,000 from designated to general funds to enable them to maintain and increase the level of grants being paid out.

Financial review

The investment performance during the year, an increase in value of £360,140 (2020: decrease £111,137), is encouraging. The trustees have appointed two different investment managers, Ruffer LLP and Investec Wealth & Investment Limited, who take significantly different approaches, to manage approximately half each of the trust’s

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THE ARCHER TRUST

investment portfolio. The Investec portfolio is closely aligned to the stock market and gives back gains made during a bull market when the market crashes, as it did in March 2020. The Ruffer portfolio tends to underperform the market during a bull market and then do spectacularly well at a time of dislocation, as it did in March 2020. Both portfolios have performed well during the year ended 31 March 2021.

The reserves ofthe trust have increased by £387,736 (2020: decrease £218.926) during the year to £2,246,117 (2020: £1,858,381).

At 5 April 2021 the trust’s investments were valued at £1,927,265 (2020: £1,683,088) with a cost of £1,573,582 (2020: £1,609,838). The trust has chosen not to adopt formal ethical investment policies. The policy of the trustees is that the funds are managed on the basis of generating a balance between capital growth and income. Investment performance is compared to a benchmark — for Ruffer, the total net return compared to the return on cash, for Investec to an investment sector benchmark. The Ruffer part of the portfolio achieved a total return net of fees of 20.3% compared to a benchmark of 0.2%. The Investec part of the portfolio achieveda total return net of fees of 26.0% compared to a benchmark of 24.8%. Both managers have therefore achieved their objective in the current year.

Reserves policy

It is the policy of the trustees to spend the income of the general fund on charitable grants so as to keep the balance on the general fund close to zero. Donations and investment gains and losses go into the designated investment fund which the trustees use to generate income. The trustees have the discretion to transfer funds from the designated to the general fund to enable them to make additional grant payments should they choose to do so.

Plansfor thefuture

The trustees intend to continue to seek to maximise returns from investments with a balance between income and capital growth. The investment of capital and unsolicited donations are the only sources of ongoing income, and funds are invested with the object of ensuring that the capital fund retains its approximate real value in the medium term.

Remuneration of the trustees

The trustees do not receive any remuneration for their services, but may receive reasonable reimbursement of costs incurred on trust business. All trustees have waived any reimbursement of costs for the period.

Risk management

The trustees have reviewed the risks to which they consider the trust to be susceptible.

To date these have mainly related to investment management and these have been ameliorated by diversified portfolio management.

Approved by the trustees on 11 September 2021 and signed on their behalf by

ee JN Archer Trustee

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THE ARCHER TRUST

Report of the independent examiner

to the trustees of The Archer Trust

for the year ended 5 April 2021

I report to the trustees on my examination of the accounts of The Archer Trust (the Trust) for the year ended 5 April 2021 which are set out on pages 6 to 13.

Responsibilities and basis of report

As the charity trustees of the trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2) the accounts do not accord with those records; or

• 3) the accounts do not comply with the applicable requirements concerning the form and content ofaccounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination.

• Ihave no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thisig properunderstanding ofthe accounts to be reached.

N CORDEN ACA Summers Morgan Sheraton House, Lower Road Chorleywood Rickmansworth WD3 5LH

11 September 2021

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THE ARCHER TRUST

Statement of financial activities for the year ended 5 April 2021

	Notes	General Fund	Designated Funds	Total 2021	Total 2020
		£	£	£	£
Income from:
Donationsand legacies		-	162,500	162,500	112,500
Investment income
Investment portfolio		31,191	-	31,191	38,931
Cash deposits		15	-	15	213
		31,206	-	31,206	39,144
Totalincome		31,206	162,500	193,706	151,644
Expenditure on:
Raisingfunds	3	-	8,731	8,731	17,546
Charitableactivities	4	157,379	-	157,379	241,887
Totalexpenditure		157,379	8,731	166,110	259,433
Netincome/(expenditure)and net
movementinfunds beforegains & losses		(126,173)	153,769	27,596	(107,789)
Netgains/(losses)oninvestments		-	360,140	360,140	(111,137)
Transfers betweenfunds		130,000	(130,000)	-	-
Netmovementinfunds		3,827	383,909	387,736	(218,926)
Reconciliation offunds
Total funds at startofyear		309	1,858,072	1,858,381	2,077,307
Totalfundsatendofyear		__4,136__2,241,981_	__2,241,981_	2,246,117	1,858,381
Represented by:
Fixed assets		-	1,927,265	1,927,265	1,683,088
Current assets		5,836	314,716	320,552	176,993
Current liabilities		(1,700)	-	(1,700)	(1,700)
		4,136	2,241,981	2,246,117	1,858,381

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THE ARCHER TRUST

Balance sheet at 5 April 2021

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|||||| |---|---|---|---|---| |Notes|2021|2021|2020|2020| |£|£|£|£| |Fixed|assets| |Investments|5|1,927,265|1,683,088| |Total fixed assets|1,927,265|1,683,088| |Current|assets| |Debtors| |Income tax recoverable|55,000|22,500| |Others debtors|3,750|4,758| |Total current assets|58,750|27,258| |Cash|at bank|261,802|149,735| |Total current assets|320,552|176,993| |Liabilities| |Creditors:|amounts|falling due within one|year| |Accruals|(1,700)|(1,700)| |Net current assets|318,852|175,293| |Net assets|2,246,117|1,858,381| |Financed by:| |The|funds of the charity| |Unrestricted|funds| |General fund|4,136|309| |Designated funds|2,241,981|1,858,072| |Total charity funds|2,246,117|1,858,381|

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Approved by the trustees on 11 September 2021 and signed on their behalf by

f C M Archer, Trustee

J N Archer, Trustee

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THE ARCHER TRUST

Notes to the financial statements

for the year ended 5 April 2021

• 1 Accounting policies

The Archer Trust is established by a charitable trust deed dated 25 January 1994 and is a registered charity.

• (a) Basis of preparation and assessment of going concern The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the statement in accordance with the Statement ofRecommended Practice: 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) (as amended for accounting periods commencing from 1 January 2016) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the trust’s ability to continue as a going concern.

• (b) Income recognition Income is recognised once the charity is entitled to it, there is sufficient certainty of receipt, and the amount of income can be measured reliably. Donations are recognised when they have been communicated in writing with notification of both the amount and the settlement date. Legacies are recognised following the grant of probate when the executor or administrator of the estate has communicated in writing both the amount and the settlement date. Interest of funds held on deposit and dividends are recognised when received.

• (c) Expenditure recognition 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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Grants payable are charged when the trustees decide to make the grant. Costs of generating funds represent investment management fees for the generation of income. Grants payable are payments made to third parties in the furtherance of the objects of the charity.

• (d) Fixed asset investments Fixed asset investments are initially measured at cost including transaction costs, and are subsequently measured at fair value at each reporting date (based upon closing mid-market value at the balance sheet date). Changes in fair value are recognised in the net income/(expenditure) for the year. The main form of risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub-sectors.

The trust does not acquire or use put options, derivatives or other complex financial instruments.

(g) Income funds

• Unrestricted funds are expendable at the discretion of the trustees in the furtherance of the objects of the charity.

• The trustees have decided that: 1. The general fund receives the income from investments and pays the charitable expenditure on grants and governance costs.

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THE ARCHER TRUST

1. The designated fund receives the income from donations including tax on gift aided donations, pays the investment management costs, and benefits or suffers from investment gains and losses.

2. (h) Financial instruments

The charity has current financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

2 Transactions with trustees

None of the trustees (or any persons connected with them) received any remuneration or were reimbursed for any expenses in the year (2020: none).

• 3 Raising funds

3	Raising fundsfunds
		2021	2020
		£	E
	Investmentmanagementcharges	8,731	17,546
		8,731	17,546
4	Charitable activities
		2021	2020
		£	a
	Charitable grants SupportLine LiliasGrahamCharitableTrust	9,000 5,000	4,000 4,000
	Safe Families forChildren	5,000	-
	Second Sight AshfordPlace	5,000 4,000	- 3,000
	Omega,TheNational Association forEndofLifeCare	4,000	-
	This is Growth Ltd	4,000	-
	ChoraChori FUN	3,000 3,000	3,000 3,000
	HousingtheHomeless CentralFund	3,000	3,000
	Keys Project	3,000	3,000
	Martin GallierProject	3,000	-
	StMartin’sYouthCentre	3,000	2,000
	Transitions	3,000	3,000
	UrbanDevotionBirmingham	3,000	-
	CriminonUK	2,500	-
	DaticTrust	2,500	2,000
	LeedsWeekend Care Association	2,500	-
	NarthexCentre	2,500	-
	Oakfield (EastonMaudit)Ltd	2,500	-
	AcaciaFamily Support	2,000	2,000
	BasildonResource Centre	2,000	2,000
	BeachyHeadChaplaincyTeam	2,000	-
	BeyondLimits BlueSkyTrust	2,000 2,000	2,000 -
	ChildAutismUK	2,000	2,000
	ClevelandHousingAdvice Centre	2,000	2,000
	Dance Syndrome	2,000	-
	Daventry Contact	2,000	-
	Emerge Ethos	2,000 2,000	- 2,000
	Gilead	2,000	-
	InsightCounsellingCoaching and Support	2,000	-
	MondoChallenge	2,000	3,000
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THE ARCHER TRUST

MyTime	2,000	-
Spitfire SupportandServicesLtd	2,000	-
StRichard’sPCC,Birmingham StriveCafé	2,000 2,000	- 5,000
SupportingDalitChildren	2,000	2,000
Tools for Solidarity	2,000	-
WycombeYouthAction	2,000	-
ChurchArmy	1,500	1,500
CoventryBoysandGirlsClub DorchesterTrustforCounsellingandPsychotherapy Eastand NorthHertsHospitals Charity	1,500 1,500 1,500	- - -
Magdalen	1,500	-
Reach Out forMentalHealth	1,500	1,000
Willowfield ParishCommunityAssociation	1,500	1,500
AbleKids	1,000	-
AscensionCommunity Trust	1,000	-
AutismBedfordshire	1,000	1,000
BentleyBeginnings	1,000	1,000
Bishops StortfordMencap	1,000	1,000
BrunswickYouthandCommunity Centre	1,000	-
CellarTrust	1,000	-
Cycle-R	1,000	-
Deki	1,000	1,000
Deptford Action Group forthe Elderly	1,000	1,000
DramaExpress	1,000	-
Finsbury&Clerkenwell Volunteers	1,000	1,000
FriaryDrop-inLtd	1,000	-
FriendsofStLuke’s	1,000	-
HouseofBread, Stafford	1,000	-
LibertyJamboreeCharity	1,000	-
Lifecentre Hattersley	1,000	-
LoughboroughJunction ActionGroup	1,000	-
NewHeights RainyDayTrust	1,000 1,000	- -
Re-Cycle	1,000	1,000
Re: Work	1,000	1,000
RydersGreenMethodistCentre	1,000	1,000
Separated ChildFoundation	1,000	-
SouthEssexAdvocacy	1,000	-
Speak SuicidePrevention StElizabeth’s Centre	1,000 1,000	- -
SuicidePrevention Bristol	1,000	-
TripleC (Liverpool)	1,000	-
Westminster StreetPastors	1,000	-
BedsandCambs4x4Response	750	-
DisabledWorkersCooperative	500	-
Dressability Leprosy Mission HealNepal	500 500	500 -
LivingHopeBelfast	500	-
OpenDoorProject	500	500
TimetoChange(WestCumbria)Ltd	500	1,000
ChristChurchArmleyCommunityProjects—chequeunpresented	(1,500)	1,500
EmmanuelGroupofChurches,Northampton—chequeunpresented	(1,000)	1,000
MIND Silverline	- -	10,000 10,000

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|||||| |---|---|---|---|---| |Giving World|-|4,000| |Playskill|-|4,000| |Melcombe Regis & Radipole PCC (Weymouth Community|Chaplain)|~|3,500| |Carers’|Choice|-|3,000| |Home from|Hospital Care|-|3,000| |International|Refugee|Trust|-|3,000| |Lighthouse|Futures|Trust|-|3,000| |Mudlarks|~|3,000| |IPSEA|-|2,500| |Prison Fellowship|-|2,500| |Simien Mountains Mobile Medical|Service|-|2,500| |Startup Online|-|2,500| |174|Trust|-|2,000| |Access|-|2,000| |Aspire|-|2,000| |Attend|-|2,000| |Bridge Project,|Tadcaster|-|2,000| |Churches Together|in Birmingham|-|2,000| |Creative Living Centre|-|2,000| |Dudley &|District Hospital Broadcasting|-|2,000| |Families|in Care|-|2,000| |Friends|of Collett|-|2,000| |Gwennies Getaways|-|2,000| |Hospitality and Hope|-|2,000| |Loaves and|Fishes|-|2,000| |Michael Roberts|Charitable|Trust|-|2,000| |Nehemiah Project|-|2,000| |Phab Shop|-|2,000| |Pukar Disability Resource|Centre|-|2,000| |Safe and|Sound Homes|-|2,000| |Siblings Together|-|2,000| |SOFA Project|e|2,000| |Spencer Contact|-|2,000| |Westbourne Park Family|Centre|-|2,000| |Calvert|Trust|-|1,500| |Children’s|Sleep Charity|-|1,500| |Colebridge|Trust|-|1,500| |Emmelline’s Pantry|-|1,500| |Handicapped Children’s|Action Group|-|1,500| |Hope|Springs|-|1,500| |Joy Foundation|-|1,500| |Kilcooley Women’s Centre|-|1,500| |Special|Stars Foundation|-|1,500| |St Mark’s Church Community|Centre,|Kingstanding|-|1,500| |The|Gifted|.|1,500| |Warm Hut UK|-|1,500| |Farnworth Baptist Church|-|1,250| |Hope Centre|-|1,250| |Ability Coooperative|-|1,000| |Armonico|Consort|-|1,000| |Bethshan|~|1,000| |Birch|-|1,000| |Bridge, Leicester|-|1,000| |Cann Bridge|School|Support|-|1,000| |Care|in Mind|-|1,000|

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||||||| |---|---|---|---|---|---| |Cerebral Palsy Plus|-|1,000| |Climbing Out|-|1,000| |Computers for the Disabled|-|1,000| |Edge Youth|Project|-|1,000| |Ethel|Trust Community Barge|-|1,000| |Giving Hands Mission|-|1,000| |Halton Autistic Family|Support|~|1,000| |Homestart Watford &|Three|Rivers|-|1,000| |Hope Coventry|-|1,000| |Host|-|1,000| |House on the Corner,|Walsall|-|1,000| |Jigsaw|-|1,000| |Julian Campbell Foundation|-|1,000| |Kisumu|Children’s|Trust|-|1,000| |Love|for Life Northern|Ireland|=|1,000| |Making|Life Beautiful|-|1,000| |New Life Church Loughborough|-|1,000| |New Vic|Theatre|-|1,000| |Parson|Cross|Initiative|(Projects)|-|1,000| |Passion Youth Project|-|1,000| |Pear Tree|School|-|1,000| |Pennywell Youth Project|-|1,000| |REAL|Hull|-|1,000| |Ruby’s Fund|-|1,000| |Ryedale|Special Families|-|1,000| |Samee|-|1,000| |Sixty One|-|1,000| |St Andrew’s Community Network|-|1,000| |St Madoc’s Centre,|Swansea|-|1,000| |Student Life|-|1,000| |Sudden Productions|-|1,000| |TEES|-|1,000| |Waterfall|Trust,|Southampton|-|1,000| |Water Harvest (formerly Wells|for|India)|-|1,000| |WHISH|-|1,000| |Young Urban Arts Foundation|-|1,000| |Youth & Community Connexions|-|1,000| |Other grants under £1,000|-|6,250| |Total grants made to institutions|156,250|240,750| |Governance|costs| |Independent|examiner’s|fee|960|960| |Administration,|bank charges and website|costs|169|177| |Total charitable|activities|157,379|241,887| |5|Investments| |2021|2020| |£|a| |Carrying amount at start of|year|1,683,088|1,700,256| |Additions|at cost|282,111|1,314,598| |Disposal proceeds|(398,074)|(1,220,629)| |Net|gain/(loss) on revaluation|360,140|(111,137)| |Carrying amount at end ofyear|1,927,265|1,683,088|

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|||||||| |---|---|---|---|---|---|---| |Investment|assets|in the United Kingdom|840,923|900,353| |Investment|assets|outside the United Kingdom|1,086,342|782,735| |1,927,265|1,683,088| |Cost at end of|year|1,573,582|1,609,838| |Holdings|representing more than 5% of|the total market value were|as|follows:| |Ruffer|Total|Return|Fund C|Income|44.7%|45.4%|

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Fixed asset investments revalued

All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

6 Financial instruments

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|||||||| |---|---|---|---|---|---|---| |2021|2020| |£|£| |Carrying amount of financial|assets| |Debt instruments|measured|at|amortised|cost|58,750|27,258| |Instruments measured at fair value through|profit and|loss|1,927,265|1,683,088| |Carrying amount of financial|liabilities| |Measured|at amortised|cost|1,700|1,700|

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7 Employees

There were no employees during the year (2019: none).

8 Movement in funds

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||||||||| |---|---|---|---|---|---|---|---| |Net movement| |2020|in|funds|2021| |£|£|£| |Unrestricted|income|funds| |General|fund|309|3,827|4,136| |Designated|income|funds|1,858,072|383,909|2,241,981| |Total funds|1,858,381|387,736|2,246,117| |Net movement|in|funds|included|in the above|are|as|follows:| |Incoming|Expenditure|Gain/|Transfers|Movement| |resources|(loss) on|between|in|funds| |investments|funds| |3|£|£|£|£| |Unrestricted|income|funds| |General|fund|31,206|(157,379)|-|130,000|3,827| |Designated income|funds|162,500|(8,731)|360,140|(130,000)|383,909| |Total funds|193,706|(166,110)|360,140|-|387,736|

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9 Related party transactions The aggregate donations received from trustees during the year was £130,000 excluding Gift Aid.

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THE ARCHER TRUST Appendix — this does not form part of the examined accounts Information on recipients of grants

• (a) Support Line provides a confidential telephone and email support line for children, young adults and adults with mental health needs. They received additional special Covid grants to cater for increased demand during the pandemic.

• (b) Lilias Graham Trust runs Braendam Family House which provides holidays for families living in poverty in Glasgow.

• (c) Safe Families for Children provides volunteer support to families with children who are at risk ofbeing taken into care.

• (d) Second Sight carries out simple eye operations for the poor in Bihar, India.

• (e) Ashford Place (formerly Cricklewood Homeless Concern) provides a night shelter project for homeless people in Brent in partnership with local churches and mosques.

• (f) Omega, The National Association for End of Life Care, provides volunteer telephone and letter befrienders to those facing end of life and bereavement.

• (g) This is Growth Ltd coordinates 21 churches and community centres in Tower Hamlets to provide night shelter, food and resettlement support to the homeless.

• (h) ChoraChori sends teams into India to rescue Nepal's lost children. (i) FUN (Families United Network) offers friendship and development opportunities in Bedfordshire for disabled children and their families.

• (j) Housing the Homeless Central Fund provides small grants to those forced to leave their homes, those moving from the streets or institutions into accommodation, and those in danger of losing their homes or caring for children in impoverished circumstances.

• (k) The Keys Project trains and equips teams of volunteers to support clients before, during and after detox from drugs and alcohol in the context of spiritual and community support.

• () The Martin Gallier Project trains families and trusted community people to support those at risk of suicide. (m) St Martin’s Youth Centre in Birmingham is on the cutting edge of helping young people to avoid becoming involved in drugs and violent gangs.

• (n) Transitions helps young people in north London to transition to adulthood and to stay out of gangs. (o) Urban Devotion Birmingham provides community and youth support in the Perry Common area of Birmingham.

• (p) Criminon UK delivers distance learning life skills courses to serving prisoners and ex-offenders. (q) The Datic Trust runs Galeed House, working for peace between Christians and Muslims in Sheffield. qr) Leeds Weekend Care Association provides weekend activities and respite care for disabled children. (s) The Narthex Centre provides a broad range of community services at St John’s church in Sparkhill. (t) Oakfield (Easton Maudit) Ltd provides whole of life residential care for adults with learning difficulties. Our grant was towards the cost of extras which increase as residents age.

• (u) Acacia Family Support supports women in Birmingham with pre- and post-natal depression.

• (v) Basildon Resource Centre is a community centre in Basildon.

• (w) Beachy Head Chaplaincy Team provides support for those who are suicidal. (x) Beyond Limits based in Bishop Auckland provides emergency aid and helps those in need to reconnect with themselves, local communities and the wider world.

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• (y) Blue Sky Trust provides support to women living with HIV in the north-east of England.

• (z) Child Autism UK (formerly Parents for the Early Intervention ofAutism in Children) is a parent-led support group helping parents to obtain early diagnosis and access to support.

• (aa) Cleveland Housing Advice Centre provides an outreach advisory service and support for elderly people living in their own homes.

• (bb) Dance Syndrome is a dance group founded and led by adults with learning difficulties and operating via Zoom during the pandemic.

• (cc) Daventry Contact provides recycled furniture for the vulnerable. Our grant was one-off for a replacement minibus.

• (dd) | Emerge in Manchester distributes surplus food which would otherwise go to waste to charities supporting homeless and isolated people.

• (ce) — Ethos provides specially adapted housing and support in Oswestry for those with severe physical disabilities.

• (ff) Gilead runs one-year programmes for 10 people with severe mental health issues on a community farm in Devon.

• (gg) Insight Counselling Coaching and Support provides counselling and support for victims, perpetrators and potential perpetrators of domestic violence.

• (hh) Mondo Challenge helps poor children in Nepal into education. (ii) My Time supports young carers in Poole. Gi) Spitfire Support and Services Ltd runs a social supermarket in Birmingham to support Covid recovery among those who have suffered severe income loss.

• (kk) St Richard’s PCC in Kitts Green, Birmingham received a one-off building renovation grant to enable continued community support.

• (1) Strive Café in Bexhill provides opportunities for paid employment for adults with learning disabilities. (mm) Supporting Dalit Children sponsors work among the poorest of the poor in Karnataka in southern India, providing education, accommodation and nourishment to children and encouraging women’s self-help groups.

• (nn) Tools for Solidarity in Belfast recycles tools for Africa using supported volunteers. (00) | Wycombe Youth Action addresses knife crime among young people through social projects. (pp) Church Army’s Captain Nick Russell is a focus for building community on estates in the Greenwich area of South-East London.

• (qq) | Coventry Boys and Girls Club provides intervention, education and preventative measure for young people living in deprived parts of the city.

• (rr) — Dorchester Trust for Counselling and Psychotherapy arranges subsidised counselling to those who cannot afford it and urgently need it.

• (ss) East and North Herts Hospitals Charity received a one-off grant for ipads to enable patients in hospital during the Covid pandemic to communicate with loved ones who are unable to visit them.

• (tt) Magdalen is an environmental education charity and one ofthe country's leading practitioners of care farming.

• (uu) Reach Out for Mental Health listens to those with mental health issues in suburban Essex via visits, phone, email and text.

• (vv) Willowfield Parish Community Association runs a support project for lone parents in East Belfast. (ww) Able Kids in Shoeburyness provides learning equipment for disabled children.

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THE ARCHER TRUST

• (xx) Ascension Community Trust provides support for the most vulnerable in Custom House in East London. (yy) | Autism Bedfordshire received funding for its summer programme of activities for children and young people with autism.

• (zz) Bentley Beginnings provides community support to deprived children in Walsall. (aaa) Bishops Stortford Mencap runs Grove Cottage, a base for social and educational activities for those with learning disabilities.

• (bbb) Brunswick Youth and Community Centre supports the local community in Bootle. (ccc) The Cellar Trust runs a Wellbeing in Work programme in Bradford to support those returning to work after a period of mental ill health.

• (ddd) Cycle-R provides training, qualifications and work experience to the long-term unemployed through recycling donated bicycles and operating a cycle shop in Staffordshire.

• (eee) Deki provides microloans to women running small businesses in Ghana. (fff) Deptford Action Group for the Elderly uses older volunteers within a furniture recycling scheme for the local community.

• (ggg) Drama Express runs drama workshops in Cornwall for disabled children. (hhh) Finsbury & Clerkenwell Volunteers received a grant for the Dorcas project which addresses loneliness among older people.

• (iii) | The Friary, Nottingham, empowers homeless and vulnerable adults to rebuild their lives. (jij) | Friends of St Luke’s raises funds for St Luke’s Special Needs School in Redbourn. Our grant was towards the cost of stage lighting needed to provide drama workshops.

• (kkk) House of Bread, Stafford supports homeless people. (ll!) Liberty Jamboree Charity runs youth groups in Staffordshire for those with special educational needs, disabilities and mental ill-health.

• (mmm) Lifecentre Hattersley near Stockport runs activity clubs in schools and the community.

• (nnn) Loughborough Junction Action Group runs the Grove Adventure Playground in Brixton.

• (000) New Heights runs the Forget Me Not choir for those suffering from dementia in Birmingham. Our grant was to support new ways ofworking during the pandemic.

• (ppp) Rainy Day Trust helps the disadvantaged take on apprenticeships in the DIY sector. (qqq) Re-Cycle sends unwanted bicycles from the UK to projects in Africa where local people have been trained to repair them.

• (rr) Re: Work Ltd provides work placements for challenging disadvantaged young people and adults in Knowle West in Bristol.

• (sss) Ryders Green Methodist Centre supports isolated elderly people in West Bromwich. (ttt) Separated Child Foundation supports unaccompanied child asylum seekers. (uuu) South Essex Advocacy supports the vulnerable in Southend. (vvv) Speak Suicide Prevention, run and staffed by people who have either considered suicide or lost loved ones to suicide, supports those at risk of suicide.

• (www) St Elizabeth’s Centre in Much Hadham provides residential support and education for those with severe neurological conditions. It received a one-off Covid grant to help with adaptations in response tothe pandemic.

• (xxx) Suicide Prevention Bristol provides support at suicide hot spots in Bristol for those who are suicidal.

• (yyy) Triple C (Liverpool) provides integrated community support in the Norris Green and Croxteth areas of

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Liverpool, with a particular emphasis on older people, children and families.

• (zzz) Westminster Street Pastors, working under the umbrella of the Ascension Trust, provides night-time support to those in need on the streets in the City of Westminster. During the Covid pandemic, their attention has particularly been on rough sleepers who are unable to access emergency accommodation.

• (aaaa) Beds and Cambs 4x4 Response received a one-off Covid grant as they took on delivering PPE and emergency food as well as transfers of cancer patients between home and hospital.

• (bbbb) Disabled Workers Cooperative provides an online portal to match disabled jobseekers to employers and an online database of services offered by disabled people.

• (cccc) Dressability (formerly Clothing Solutions for Disabled People) provides bespoke clothing for disabled peopic.

• (dddd) Leprosy Mission received a grant to expand its work in Nepal following the earthquake.

• (eeee) Living Hope Belfast runs a social concern project from a church in the Shankill area of Belfast, responding to requests for furniture, clothing and food.

• (fff) |The Open Door Project works with children and young people in Birmingham with a range of severe learning difficulties and special needs.

• ‘gggg) Time to Change runs the Women Out West project in Workington to prevent young people from becoming ¢eriminals or homeless.

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