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2021-03-31-accounts

THE CHARLTON BEQUEST AND DISPENSARY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

THE CHARLTON BEQUEST AND DISPENSARY TRUST

Contents Page
Trustees' Report 1-6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10-14
Thefollowing pages do notform part ofthe statutory accounts:
Schedule of Investments 15-17
Purchase of Investments 18
SaleofInvestments 19

THE CHARLTON BEQUEST AND DISPENSARY TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their annual report and financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011, the second edition of the Charities Statement of Recommended Practice issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

PURPOSES AND AIMS

The objects of the Charity are the provision of accommodation for letting to poor and sick persons and to apply income of the Charity applicable for relief in relieving sick and needy persons resident in the area of the former County Borough of Tynemouth.

ENSURING OUR WORK DELIVERS OUR AIMS

We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits that they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aims, objectives and activities have remained focussed on our stated purposes. We have referred to guidance contained in the Charity’s Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

THE FOCUS OF OUR WORK

Our main objectives for the year continued to be to provide accommodation to the sick and needy. The strategies we used to meet these objectives included:

Providing apartments to the sick, needy and elderly.

Providing or paying for items, services or facilities that alleviate the suffering of the sick, needy and elderly.

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

Our main activities and who we try to help are described below. All our charitable objectives focus on helping the sick and elderly and are undertaken to further our charitable purposes for the public benefit.

WHO USED AND BENEFITED FROM OUR SERVICES?

There have been no changes in the Charity’s objects or policies during the year. The Charity attempts to achieve its objectives by means of providing accommodation in the form of two large properties divided into apartments. The Trustees also listen sympathetically to requests for help from sick and needy persons.

ACHIEVEMENT AND PERFORMANCE

As a result of continuing investment the Charity’s two properties are extremely well presented and provide very comfortable accommodation for their tenants after considerable upgrading over the last 10 years. The properties continue to achieve extremely high levels of occupancy.

THE CHARLTON BEQUEST AND DISPENSARY TRUST

1

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

ACHIEVEMENT AND PERFORMANCE (CONTINUED)

Funding is provided from the Charity’s own resources. The properties were valued at 9 May 2018 at £1,280,000 and the Trustees continue to recognise this valuation in the 2021 financial statements.

The Trust will continue to consider and make Grants available to the sick and needy in 2021/22 in accordance with the terms of the Trust Deed.

FINANCIAL REVIEW

RESULTS FOR THE YEAR

The statement of Financial Activities shows a surplus for the year, before unrealised gains/(losses) on assets of £18,044 against a surplus of £27,050 in the previous year. The market value of investments and properties resulted in a £204,700 increase for the year (last year £91,867 reduction) and as a result the value of the Charity’s funds increased by £222,744 to £2,629,220.

PRINCIPAL FUNDING SOURCES

The Charity continues to be self-funding and does not rely on funding from external sources.

INVESTMENT POWERS AND POLICY

Unrestricted Fund Investments are held by Wise Speke, Asset Management Division of Brewin Dolphin Securities under a Declaration of Trust and the portfolio is reviewed constantly. The value of investments increased from £618,469 to £745,355 over the year. Around 19.5% of investments are held in Fixed Interest Securities and dated stock as well as all of the investments treated as Restricted Funds which increased by £77,158 to £394,415.

Allthe cashTrustees. belonging to the Charity and not needed for immediate working capital purposes is invested under the power of

RESERVES POLICY AND GOING CONCERN

The Trustees ensure that there are sufficient reserves to meet the working capital and cash flow requirements of the Charity.

PLANS FOR FUTURE YEARS

The Charity’s future plan is to continue to maintain its properties to a standard that they provide first class accommodation. The Trust will continue in appropriate cases to award grants to the sick and needy.

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY NAME: The Charlton Bequest and Dispensary Trust
CHARITY NUMBER: 1055160
OPERATIONAL ADDRESS: 24 Green Close
Tynemouth
Tyne & Wear
NE30 2TY
BANKERS: Lloyds Bank plc
69 Bedford Street
North Shields
NE29 OAU
Virgin Money
Jubilee House
Gosforth
Newcastle upon Tyne
NE3 4PL
INDEPENDENT EXAMINER E J Hartshorne-Ferguson BAFCA
Bell Tindle Williamson LLP
The Old Post Office
63 Saville Street
North Shields
Tyne & Wear
NE30 1AY
TRUSTEES
The trustees who served during theyearand since the yearend were as follows:
Key Management Personnel: Trustees’
ELECTEDTRUSTEES: R King
W Stephenson (Deceased)
M Abbot
G Bruce
V Beautyman
B Steward
P Stephenson
Key Management Personnel: Informed Management
HONORARY TREASURER: D Nichol
MINUTESECRETARY: KKenny

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The Charity’s objects and regulations are regulated by a revised Trust Deed dated 21 October 1994 and under that Deed is constituted as an unincorporated association. The original Deed was dated 13 August 1957.

RECRUITMENT AND APPOINTMENT OF TRUSTEES

There are eight Trustees constituting the body of the Trust. Each Trustee is appointed for a five year term and subject to re-appointment after that time. The Trust endeavours to hold four meetings a year, however the Covid-19 restrictions have curtailed this. Contact and consultation with Trustees has been maintained by telephone and email to ensure that they are involved in decision making and kept informed of Trust matters. Three Trustees constitute a quorum. Declaration and willingness to act as a Trustee are signed in the minute book. Most traditional skills (business, financial, educational and management) are represented on the Board. Efforts are made to recruit Trustees who possess the skills which the organisation requires and membership is kept under review by the Board. The Trustees have in mind a potential Trustee, however the Covid-19 restrictions have not allowed the appropriate “special meeting” to appoint a Trustee. When permissible this will be implemented.

TRUSTEE INDUCTION AND TRAINING

Most Board members are already familiar with the practical work of the charity having received a members’ handbook and an opportunity to spend time in the organisation.

The induction and training process for new Board members covers: , the obligations of the Trustees : the main documents which set out the operational framework for the charity i resourcing and the current financial position ' future plans and objectives

The two properties owned by the Trust are run as Almshouses. They are operated by the Trustees under the Standards of Almshouses Management which is a guide to good practice for Trustees and Clerks to Trustees of Almshouse Charities. All Trustees have a copy of this guide and are also taught by precept and example. Regular welfare visits to residents are in force.

ORGANISATION

The Charlton Bequest and Dispensary Trust is managed by a Board of Trustees which meet at least 4 times a year. They are legally responsible for the organisation and for the Strategic direction of the organisation. Under the direction and supervision of the Chairman individual Trustees are delegated tasks and responsibilities and this ensures a smooth day to day running of the organisation. The Chairman, R King, is responsible for the day to day management of the Charity.

RELATED PARTIES

Nichol Goodwill Brown Ltd provide accountancy and administrative services to the Trust. Treasurer of the Trust, is a director of that company.

D Nichol, Honorary

RISK MANAGEMENT

The Trustees have conducted a review of the major risks to which the organisation is exposed. This assessment of risk is reviewed and updated annually. Where appropriate, systems and procedures have been established to mitigate risks. External risks are limited by means of a cautious investment policy and the use of Brewin Dolphin as investment advisors. Internal control risks are minimised by the implementation of robust policies and procedures which safeguard the resources and reputation of the organisation.

4

THE CHARLTON BEQUEST AND DISPENSARY TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED

31 MARCH 2021

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing a Trustees Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Charity Trustees to prepare financial statements for each year which 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 Trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

STATEMENT OF DISCLOSURE TO OUR INDEPENDENT EXAMINER

The Trustees who served during the year and up to the date of this report are set out on page 3.

In so far as the Trustees are aware at the time of approving our Trustees’ Annual Report:

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

ACCOUNTING POLICIES

The accounting policies of the charity have not changed during the year. The Trustees confirm that the financial Statements comply with the requirements of the Charity's governing document.

INDEMNITY INSURANCE

The Charity does not hold insurance cover in respect of the Trustees of the Charity.

POLICY ON PAYMENT OF CREDITORS

It is the Charity policy, in respect of all suppliers to settle the terms of payment when agreeing the terms of each transaction, to ensure that suppliers are made aware of the terms of payment, and abide by the terms of payment.

INDEPENDENT EXAMINER

During the year E J Hartshorne-Ferguson BA FCA of Bell Tindle Williamson LLP was appointed as independent examiner and has expressed her willingness to continue in that capacity.

This report was approved by the Trustees on 26 January 2022.

Signed on behalf of the Trustees

oe

R King Chairman

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE CHARLTON BEQUEST AND DISPENSARY TRUST

| report on the financial statements for the year ended 31 March 2021 which are set out on pages 8 to 14.

Respective responsibilities of the Trustees and Examiner

The Charity's Trustees are responsible for the preparation of the financial statements. The Charity's Trustees consider that an audit is not required for this year under Section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial Statements, and the seeking of explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and, consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

E J Hartshorne-Ferguson BA FCA

Bell Tindle Williamson LLP Chartered Accountants The Old Post Office 63 Saville Street North Shields Tyne & Wear NE30 1AY

Charity Number 1055160

26 January 2022

T

THE CHARLTON BEQUEST AND DISPENSARY TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

31 MARCH 2021
Notes Unrestricted
Funds		 Restricted
Funds		 Total
2021		 Total
2020
INCOME: £ £ £ E
Bank interest received
Investment income		 395
15,922		 -
-		 395
15,922		 1,291
21,878
Income from charitable activities
Property Income
47 Linskill Terrace - Gross rents
63 Percy Park Road - Gross rents		 25,611
26,390		 .
-		 25,611
26,390		 24,965
24,650
TOTAL INCOMING RESOURCES 68,318 - 68,318 72,784
EXPENDITURE
Expenditure on Charitable Activities
Property Expenses:
47 Linskill Terrace
63 Percy Park Road
Governance costs		 2 6,633
38,763
10,980		 -
-		 6,633
38,763
10,980		 1,356
38,945
11,142
56,376 - 56,376 57,443
NET INCOMING RESOURCES
BEFORE OTHER RECOGNISED
GAINS
Realised gain/(loss) on disposal of
investments		 3 11,942
6,102		 -
-		 11,942
6,102		 15,341
11,709
SURPLUS FORYEAR
Unrealised gains/(losses) on		 18,044 - 18,044 27,050
investment assets 127,542 77,158 204,700 (91,867)
NETMOVEMENT IN FUNDS 145,586 77,158 222,744 (64,817)
RECONCILIATION OF FUNDS
Fund balances brought forward
at 1 April 2020 2,089,219 317,257 2,406,476 2,471,293
Fund balances carried forward
at31March2021 £2,234,805 £394,415 £2,629,220 £2,406,476

The notes on pages 10 to 14 form part of these financial statements.

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

BALANCE SHEET AS AT 31 MARCH 2021

Notes 2021 2020
£ £ £ £
FIXED ASSETS
Tangible fixed assets
Investments
Sinking fund investments		 4
5
6		 1,280,000
745,355
394,415		 1,280,000
618,469
317,257
CURRENT ASSETS 2,419,770 2,215,726
Sundry debtors
Cash at bank and in hand		 7 1,050
218,380		 1,239
194,900
219,430 196,139
CREDITORS:
Amounts falling due
within one year
Accrued liabilities 8 (9,980) (5,389)
NET CURRENTASSETS 209,450 190,750
NETASSETS £2,629,220 £2,406,476
CAPITAL FUNDS
Unrestricted
Restricted		 9
9		 2,234,805
394,415		 2,089,219
317,257
TOTALFUNDS £2,629,220 £2,406,476

These accounts were approved by the Trustees on 26 January 2022.

Chairman

sr 7 eaaaiaaal Honorary Treasurer

The notes on pages 10 to 14 form part of these financial statements.

9

THE CHARLTON BEQUEST AND DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

  1. ACCOUNTING POLICIES

  2. 1.1 Basis of Preparation

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed assets, with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the financial statements. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2014:

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

1:2 Preparation of the Financial Statements on a Going Concern Basis

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. There are nosignificant judgements or key sources of estimation uncertainty that affect the financial statements.

1.3 Cash Flow Statement

The Trustees have taken advantage of the exemption from including a cash flow statement in the financial statements on the grounds that the charity is small.

1.4 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

10

THE CHARLTON BEQUEST AND DISPENSARY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2021 (continued)

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1. ACCOUNTING POLICIES (continued)
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1.6 Support Costs

Support costs are those functions that assist in the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance and governance costs which support the charity’s activities. These costs have been included within expenditure on charitable activities.

ig Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general Objectives of the Charity and are funds which have not been designated for other purposes.

Restricted funds are to be used in accordance with specific restrictions imposed by their donors.

Individual fixed assets are capitalised at cost, where acquired, or fair value as determined by the Trustees and are depreciated over their estimated useful economic lives.

Listed investments are shown at market value.

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation throughout the year.

Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is recognised at the settlement amount due after any trade discount offered.

1.12 Cash at bank and in hand Cash at bank and in hand comprises a bank current account, a bank deposit account and a small petty cash balance.

1.13 Creditors and Provisions

Creditors are recognised where the charity has a present obligation as a result of a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement date, with the exception of fixed asset investments which are subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

11

THE CHARLTON BEQUEST AND DISPENSARY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

2. GOVERNANCE COSTS

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||||||| |---|---|---|---|---|---| |2021|2020| |Governance|costs|comprise:|£|£| |Independent|Examiners|fee|887|840| |Administration|and|accountancy|1,622|1,584| |Honorarium|and|donations|380|300| |Subscriptions|219|212| |Professional|Fees|(managing|surveyor)|1,050|588| |Other|395|563| |Investment|Portfolio|Management|Fees|6,427|7,055| |Valuation|Fees|-|-| |£10,980|£11,142| |3.|GAIN/(LOSS)|ON|SALE|OF|INVESTMENTS| |2021|2020| |£|£| |Proceeds|of sale|118,374|221,479| |31|March|2020|market value|(112,272)|(209,770)| |Gain/(Loss) on|sale|of investments|£6,102|£11,709|

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THE CHARLTON BEQUEST AND DISPENSARY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

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|||||||| |---|---|---|---|---|---|---| |4.|FIXED|ASSETS| |47|Linskill|63|Percy| |Terrace|Park|Road|Total| |COST/VALUATION|a|£|£| |At|1|April|2020|490,000|790,000|1,280,000| |Revaluation|surplus|-|-|-| |At|31|March|2021|490,000|790,000|1,280,000| |NET|BOOK|VALUE| |At|31|March|2021|£490,000|£790,000|£1,280,000| |At|31|March|2020|£490,000|£790,000|£1,280,000|

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The freehold properties were revalued on 9 May 2018 by RA Jackson & Son, Chartered Surveyors, on an existing use open market value basis. The Trustees believe that valuation remains appropriate and in view of the substantial upgrade work carried out on both properties on a regular basis, they are of the opinion that any provision for depreciation would be inappropriate. 5: INVESTMENTS Investments comprise equities, government securities and other fixed interest securities which are shown at market value of £745,355 (2020 - £618,469). The split is as follows:

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|||||| |---|---|---|---|---| |2021|2020| |£|£| |UK|Fixed|Interest|80,607|97,715| |UK|Equities|188,999|179,920| |Overseas|Equities|341,774|238,335| |Alternative|Investments|118,976|71,487| |Cash|14,999|31,012| |£745,355|£618,469|

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  1. SINKING FUNDS

The sinking fund is represented by:

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|||||||||| |---|---|---|---|---|---|---|---|---| |Nominal|Original|Original|Market|Market| |value|cost|cost|value|value| |£|2021|2020|2021|2020| |Charity|Commissioners|ca|£|£|£| |(a)|£1|Accumulative|shares| |(47|Linskill|Terrace)|432.21|590|590|89,528|72,013| |(b)|£1|Accumulative|shares| |(63|Percy|Park|Road)|1,470.93|153,073|153,073|304,690|245,081| |(c)|£1|Income|units|11.00|-|-|197|163| |£153,663|£153,663|£394,415|£317|257|

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13

THE CHARLTON BEQUEST AND DISPENSARY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (continued)

%% DEBTORS
2021 2020
£ £
Prepayments and accrued income £1,050 £1,239
8. CREDITORS: amounts falling due
within one year
2021 2020
£ £
Accruals and deferred income £9,980 £5,389
9. FUNDS
Unrestricted Restricted
£ £
Balance at 1 April 2020
Surplus foryear
Unrealised gain on investment assets		 2,089,219
18,044
127,542		 317,257
-
77,158
Balance at31March2021 £2,234,805 £394,415

Unrestricted Funds — these funds can be used in any way by the Trustees in accordance with the objectives of the charity.

Restricted Funds - are to be used in accordance with specific restrictions imposed by their donors.

  1. RELATED PARTY TRANSACTIONS

Included within governance costs is £1,622 (2020 - £1 ,584) paid to Nichol Goodwill Brown Ltd in respect of accountancy and additional administration services. D Nichol, honorary treasurer, is a director of that company.

11. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL

The charity had no paid employees during the current or previous financial year.

The charity considers its key management personnel comprises of the trustees.

Trustees are reimbursed for any expenses incurred in connection with the activities of the Charity. The aggregate amount reimbursed in the year was £1,520 (2020 - £2,457) to one Trustee in respect of travel, telephone and other sundry items (including reimbursement of expenditure on the Trust’s properties). An honorarium of £300 (2020 - £300) was paid for secretarial services.

The charity trustees were not paid and did not receive any other benefits from employment with the Charity in the year.

14

The Chariton Bequest and Dispensary Trust

Schedule of Investments for the year ended 31 March 2021

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Original|Original| |cost or|Market|cost or|Market| |Nominal|valuation|value|valuation|value| |UK|BONDS|value|31.03.20|31.03.20|31.03.21|31.03.21| |Bond|Funds| |GCP|Infrastructure|1p|ord|12,000|14,829|13,560|14,829|12,336| |Meridian|(Old|Mutual)|Inv Man|Corp Bond|Inc|(Jupit|14,709|16,514|17,210|-|-| |Twenty|Four AM Corp Bond|£1|250|25,261|24,748|25,261|25,930| |Vanguard|Inv Ser UK Gvt Bond|Index|Inst|Pls|Inc|100|11,346|12,867|11,346|11,973| || Shares|Il!|plc|market 130XX Corp|190|19,637|23,943|19,637|25,109| |A2D|Funding|pic 4.75%|Bond|5,000|5,020|5,280|5,020|5,259| |TOTAL FOR UK BONDS|92,607|97,608|76,093|80,607| |Seanaahenna|eee| |OVERSEAS|BONDS| |Henderson|Inv|Fixed|Int Monthly|Income|25,000|-|-|15,098|14,803| |Robeco Lux SA Global|Credits|1BH|65|-|-|7,258|6,976| |-|-|22,356|21,779| |memes| |UK|EQUITIES| |BP Ord|US$0.25|ord|shares|3,500|17,017|12,047|-|-| |Royal|Dutch|Shell|'B' Ord|Eur 0.07|700|10,118|9,519|10,118|9,345| |Croda|International|ord|shares|170|7,867|7,262|7,867|10,792| |Rio Tinto|ord|10p|200|7,393|7,437|7,393|11,100| |Experian|ord|US$0.10|320|-|-|7,937|7,990| |Diageo 28p ord|450|3,255|7,760|7,338|13,453| |Taylor Wimpey|1p ord|2,000|3,070|2,350|3,070|3,609| |Unilever pic|3.1111p ord|300|8,053|12,227|8,053|12,168| |British American|Tobacco|25p|ord|250|7,977|6,898|-|-| |Smith & Nephew|ord|US$0.20|430|-|-|6,812|5,925| |Glaxo Smith|Kline 25p ord|700|2,512|10,602|2,512|9,016| |Relx|pic £0.1444|380|-|-|7,221|6,912| |Compass|Group|11.05p|ord|542|4,988|6,851|4,988|7,921| |Intercontinental|Hotels|ord 20.852p|170|4,623|5,976|4,623|8,458| |Vodafone|Group|ord|US$0.2095238|2,500|4,819|2,825|-|-| |National|Grid|ord|12.431289p|550|2,784|5,206|2,784|4,752| |HSBC|Holdings|US$0.50|ord|1,300|9,025|5,905|-|-| |Lloyds|Banking|pic|ord|10p|20,000|15,037|6,400|-|-| |Legal and|General|ord 2.5p|3,000|6,746|5,816|6,746|8,373| |Prudential|5p ord|810|8,621|8,388|8,621|12,478| |British|Land|25p|ord|1,200|8,564|4,034|:|-| |Schroders VTG Shs £1|200|3,204|4,968|3,204|7,000| |Meridian|(Old|Mutual)|Inv Mgmt UK Mid Cap|16,204.00|9,294|17,173|9,294|29,183| |ES|River & Mercantile UK Equity|Inc|3,003|6,850|6,255|6,850|7,749| |Mercantile|Inv Trust plc 25p ord|5,000|8,585|8,780|8,585|12,775| |Vanguard|Funds|FTSE|100|UCITS|400|12,833|10,012|-|-| |TOTAL FOR UK|EQUITIES|173,235|174,691|124,016|188,999|

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15

The Chariton Bequest and Dispensary Trust

Schedule of Investments for the year ended 31/03/2021 (continued)

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Original|Original| |cost|or|Market|cost|or|Market| |Nominal|valuation|value|valuation|value| |value|31.03.20|31.03.20|31.03.21|31.03.21| |NORTH|AMERICAN|EQUITIES| |Artemis|Fd|Mgrs|Vs|Select|Instit|19,000|39371|35441|39,371|47,635| |JP Morgan|Funds|Ltd US|Equity|Inc|43,403|25,410|43,403|25,410|56,554| || Shares S&P 500|1,700|21,869|31,613|31,203|48,886| |Vanguard|Funds|pic S&P 500|UCITS|850|34,390|28,156|41,876|46,515| |TOTAL|oo|eeeeeeeeeSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSsssse| |FOR NORTH AMERICAN|EQUITIES|121,040|138,613|137,860|199,590| |EUROPEAN|EQUITIES| |Blackrock|FM|Ltd|Euro|Dynamic FD|Inc|7,000|8,140|11,214|8,140|17,346| |Blackrock FM|Ltd|Contl|Euro|Inc|Fund|16,000|28,119|27,180|23,439|27,896| |TOTAL|rr|ee| |FOR EUROPEAN|EQUITIES|36,259|38,394|31,579|45,242| |JAPANESE|EQUITIES| |Baillie|Gifford|Japanese|B|Nav|Inc|1,500|22,158|19,470|22,158|27,510| |TOTAL FOR JAPANESE|EQUITIES|22,158|19,470|22,158|27,510| |ASIA|PACIFIC|EQUITIES| |First|Sentier/Stewart|Invrs Asia|8,000|-|-|20,731|23,571| |Bny Mellon|Newton|Asia|Inc|28,000|22,062|20,918|27,399|32,906| |Hermes|Inv Mgmt|Hermes|Ex Asia Japan|7,000|14,682|11,722|-|-| |TOTAL FOR ASIA PACIFIC|EQUITIES|eee36,744|32,640|48,130|56,477| |EMERGING|MARKET|EQUITIES| |TOTALJP Morgan|Asset Man Emg|Mkts|18,000AO11,448|9,218|11,448|12,95512,955| |FOR EMERGING MARKET EQUITIES|11,448|9,218|11,448|12,955| |GLOBAL|INVESTMENTS| |Legg Mason|Inv|Fds|Rare|Clearbridge|Infra|10,000|10,020|10,440|10,020|11,850| |Scottish|Mortgage|Inv|Trust 5p ord|1,000|5,358|11,470|2,679|11.370| |TOTAL FOR GLOBAL INVESTMENTS|eeeeeeeeeSSSeSSSSSFSSSSSSSSSSSSSSSSSSSSSSSSSSSeseeee15,378|21,910|12,699|23,220|

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16

The Charlton Bequest and Dispensary Trust

Schedule of Investments for the year ended 31/03/2021 (continued)

Original Original
costor Market cost or Market
Nominal valuation value valuation value
value 31.03.20 31.03.20 31.03.21 31.03.24
ABSOLUTE RETURN INVESTMENTS
BNYMellon FncMangr Mangr Gi Dynamic 15,000 14,536 14,111 14,536 14,571
Muzinich funds Gbl Tactical Hgd S Inc 96.61 9,689 9,272 9,689 10,153
PersonalAssets
TOTALABSOLUTE RETURN INVESTMENTS		 50.00 -
-
21,981
i lO
24,225
23,383
46,206		 22,600
ROU:
47,324
PROPERTY
Blackrock FM Ltd shares Prop Secs 10,500 14,488 11,100 19,302
Legal & General UK Property 24,000 14,374 13,648 - :
TOTALFORPROPERTY a
28,862		 24,748 19,302 18,438
CASH
Cash depositand dealing account 29,970 29,970 14,276 14,276
Income account 1,042 1,042 723 723
TOTAL CASH eee
31,012
31,012
14,999
14,999
TOTAL FORALLINVESTMENTS INVESTMENTS £
592,968
£
611,687
£
Q35S—G65V0Nnae630W3037vOBzEeRjq}OOoooSSSSSSS		 566,846
£		 737,140
INVESTMENTSREMOVED FROM BREWIN DOLPHIN VALUATION IN 2019/20
CCLA InvestmentCOIF CharityFunds Income Unit:
CCLA InvestmentCOIF Charity FundsAccum Units
Accrued InterestonAZD Bond		 . 352
651
9
140
emii		 5,229
651
1,446
140
107
a		 6,310
1,798
107
£
593,759
£
618,469
£
567,637
£
745,355
a
a
Ee

17

THE CHARLTON BEQUEST AND DISPENSARY TRUST

PURCHASE OF INVESTMENTS FOR THE YEAR ENDED 31 MARCH 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |DATE|NAME AND SHARE|NO.|COST| |27/04/2020|Personal|Assets|Trust|£12.50|ord|35|15,118.02| |27/04/2020|Diageo|28p|ord|150|4,082.65| |29/06/2020|Relx|plc|£0.1444|ord|380|7,220.62| |03/07/2020|Smith|&|Nephew|$0.20|ord|430|6,811.98| |11/09/2020|Vanguard|Funds|Ic S&P|500|150|7,486.44| |14/09/2020|First|sentier/Stewart|Invrs|Asia|8,000|20,731.20| |16/10/2020|Personal|Assets|Trust|£12.50|ord|15|6,862.96| |16/10/2020|Blackrock|Fund|Mgrs|||Shares|Gb!|Prop|3,000|4,814.00| |14/12/2020|||Shares|Core S&P|500|UCITS|500|13,708.35| |17/12/2020|Robeco|Luxembourg SA|Global|Credits|65|7,258.40| |02/03/2021|Henderson|Inv|Funds|Pref &|Bond|25,000|15,097.50| |02/03/2021|BNY|Mellon|Fund|Mgrs|Asian|Income|4545.362|5,336.71| |02/03/2021|Blackrock|Fund|Mgrs|Cont|Europe|Inc|Units|3000.000|5,162.00| |17/03/2021|Experian|plc|$0.10|ord|320|7,936.80|

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127,627.63

18

The Charlton Bequest and Dispensary Trust

Investment Sales for the year ended 31 March 2021

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Sales|Proceeds|Profit/(loss)|Profit/(loss)| |Net of|Original|31/03/2020|on|on| |Date|Name and Share|No.|Commission|Cost|Market Value|Cost|Market Value| |27/04/2020|||shares core S&P 500|UCITS|300|6,873.31|4,374|6,323|2,499|550| |27/04/2020|— Scottish|Mortgage|Inv Trus Sp ord|1,000|6,433.48|2,679|5,735|3,755|699| |19/05/2020|British|Land|ord 25p|1,200|4,211.20|8,564|4,034|(4,353)|177| |10/06/2020|Vodafone|Group|ord|$0.2095238|2,500|3,391.75|4,819|2,825|(1,427)|567| |02/07/2020|Blackrock FM|Ltd|Euro|Dynamic FD|Inc|7,000|11,222.00|9,842|9,513|1,380|1,709| |08/09/2020|Hermes Fund|Mgrs Asia|Ex Japan|7,000|13,906.50|14,682|11,722|(776)|2,184| |14/09/2020|HSBC $0.50 ord|1,300|4,160.01|9,025|5,905|(4,865)|(1,745)| |14/09/2020|Merdian|Corporate|Bond|R|5,710|7,345.64|6,410|6,680|936|666| |13/10/2020|= L&G (Unit Trust Mgrs) UK Prop|24,000|12,976.00|14,374|13,648|(1,398)|(672)| |20/11/2020|= BAT 25p ord|250|6,924.83|7,977|6,898|(1,052)|27| |14/12/2020|Vanguard|Funds|FTSE100|UCITS|400|11,594.72|12,833|10,012|(1,238)|1,583| |10/02/2021|Lloyds|Banking 10p|ord|20,000|7,507.10|15,037|6,400|(7,530)|1,107| |01/03/2021|BP ord|USS0.25|3,500|10,336.20|17,017|12,047|(6,681)|(1,711)| |02/03/2021|Jupiter Fund|Managers|Inv Bond|9,000|11,491.00|10,104|10,530|1,387|961|

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Capital reorganisations etc.

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|||||| |---|---|---|---|---| |118,373.74|137,737|112,272|(19,363)|6,102| |-|-|f|>|7| |i| |118,373.74|137,737|112,272|(19,363)|6,102| |————————————————————_———r|

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19