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|Trustees'|Report||1|
|---|---|---|---|
|Statement|ofTrustees'|Responsibilities|2|
|Independent<br>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<br>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<br>under the Will||||of Emslie John||
|Horniman,||who died on|11July 1932. The Fund is vested|||in the|Institute,<br>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<br>Vinson|||||||
|Principal||Address||50 Fitzroy Street|||London W1T 5BT||||
|Auditors||||Friend-James<br>Limited|||||||
|||||161-163Preston Road|||Brighton|BN1 6AF|||
|Bankers||||National<br>Westminster|Bank PLC||||||
|||||45 Tottenham<br>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<br>Management|||||||
|||||85, Queen Victoria Street|||London EC4V 4ET||||





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||||||||Capital|Restricted|||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Endowment|Scholarship|Total|Total|
||||||||Fund|Grant Fund|2020|2019|
|||||||||K|||
|Income and endowments||from:|||||||||
|Investment<br>income||||||||42,786|42,786|39,745|
|Donations<br>and legacies||||||||3,000|3,000|5,400|
|Total Income||||||||45,786|45,786|45,145|
|Expenditure<br>on:|||||||||||
|Anthropological<br>Scholarship||||Fund|||||||
|Charitable<br>Activities|||||||||||
|Grants made during the||year||||||11,565|11,565|20,435|
|No ofgrants - 2(2019|||-4)||||||||
|Other Expenditure|||||||||||
|Administration<br>services||||||||1,831|1,831|1,817|
|Property maintenance||||||||3,767|3,767|6,645|
|Accountancy<br>and audit||fee||||||950|950|925|
|Investment<br>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)<br>on Investment|||||Assets||(18,190)||(18,190)|5,022|
|Revaluation<br>ofinvestment|||property||||44,504||44,504||
|Unrealised<br>Gain/(Loss)|on||Investment|||Assets|28,996||28,996|80,895|
|Net Movement<br>in Funds|||||||55,310|24,280|79,590|97,462|
|Prior year adjustment||||||||||6,000|
|Reconciliation<br>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|





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||||||Note|2020||2019||
|---|---|---|---|---|---|---|---|---|---|
|Fixed Assets||||||||||
|Investments<br>at market value|||||||608,438||521,911|
|Freehold<br>Investment|||Property||||637,500||592,996|
||||||||1,245,938||1,114,907|
|Current Assets||||||||||
|Cash held by Investment||||Brokers||||9,281||
|Amount<br>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<br>Scholarship|||Grant Fund||||362,059||337,779|
|Total charity funds|||||||1,291,494||1,211,904|





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|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|



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