2020-12-31-accounts

Trustees'	Report		1
Statement	ofTrustees'	Responsibilities	2
Independent Auditor's		Report	3,4 L5
Statement	of Financial	Activities	6
Statement	of Financial	Position	7
Notes to the Financial		Statements	88 9

(also known as Emslie	(also known as Emslie	(also known as Emslie	(also known as Emslie	(also known as Emslie	(also known as Emslie	Hornim	an Fund)
The trustees present their report and financial statements						for the	year ended 31	December 2020. The		Fund is
governed		by a Deed and	Scheme dated 4 December		1944. It was founded under the Will				of Emslie John
Horniman,		who died on	11July 1932. The Fund is vested			in the	Institute, which	appoints	four Trustees	in
addition	to the President		who	is a Trustee ex officio.
Trustees
				Professor Dame Sue Black,			appointed	04-Oct-18
				Baroness Black ofStrome
				Dr Simon Underdown			appointed	19-Mar-16
				Dr Liana Chua			appointed	21-Feb-18
				Prof Paul Lane			appointed	18-Sep-16
				Ms R. Gosling			appointed	08-May-17
Honorary		Secretary		Amanda Vinson
Principal		Address		50 Fitzroy Street			London W1T 5BT
Auditors				Friend-James Limited
				161-163Preston Road			Brighton	BN1 6AF
Bankers				National Westminster	Bank PLC
				45 Tottenham Court	Road		London W1T 2EA
Solicitors				Jansons Solicitors
				40 Crawford Street			London W1H 1JL
Stockbrokers				Smith 8 Williamson	Investment		Management
				25 Moorgate			London EC2R 6AY
				CCLA Investment Management
				85, Queen Victoria Street			London EC4V 4ET

							Capital	Restricted
							Endowment	Scholarship	Total	Total
							Fund	Grant Fund	2020	2019
								K
Income and endowments		from:
Investment income								42,786	42,786	39,745
Donations and legacies								3,000	3,000	5,400
Total Income								45,786	45,786	45,145
Expenditure on:
Anthropological Scholarship				Fund
Charitable Activities
Grants made during the		year						11,565	11,565	20,435
No ofgrants - 2(2019			-4)
Other Expenditure
Administration services								1,831	1,831	1,817
Property maintenance								3,767	3,767	6,645
Accountancy and audit		fee						950	950	925
Investment management			fees					3,393	3,393	3,676
Sundries										102
Total Expenditure								21,506	21,506	33,600
Net Income								24,280	24,280	11,545
Realised Gain/(Loss) on Investment					Assets		(18,190)		(18,190)	5,022
Revaluation ofinvestment			property				44,504		44,504
Unrealised Gain/(Loss)	on		Investment			Assets	28,996		28,996	80,895
Net Movement in Funds							55,310	24,280	79,590	97,462
Prior year adjustment										6,000
Reconciliation of Funds
Fund Balances at 1January			2020				874,125	337,779	1,211,904	1,108,442
Fund Balances at 31 December				2020			929,435	362,059	1,291,494	1,211,904

					Note	2020		2019
Fixed Assets
Investments at market value							608,438		521,911
Freehold Investment			Property				637,500		592,996
							1,245,938		1,114,907
Current Assets
Cash held by Investment				Brokers				9,281
Amount due from	related			charity		62,177		92,666
						62,177		101,947
Creditors-amounts	falling			due within one year
Sundry creditors						16,621		4,950
						16,621		4,950
Net current assets							45,556		96,997
Total net assets							1,291,494		1,211,904
Funds ofthe Trust
Capital Endowment		Fund		- unrestricted			929,435		874,125
Restricted Scholarship			Grant Fund				362,059		337,779
Total charity funds							1,291,494		1,211,904

Analysis of	net as	sets between funds
			Capital	Restricted
			Endowment	Scholarship
			Fund	Grant Fund	Total
				E
Fund balances at		31December 2020 are
represented	by:
Fixed Assets			929,435	316,503	1,245,938
Current Assets				62,177	62,177
Creditors-amounts		falling due within one year		(16,621)	(16,621)
			929,435	362,059	1,291,494