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2021-03-31-accounts

CONTENTS
Page
Reference and Administrative Information
Trustees'
Annual Report		 2 —6
Report ofthe Independent Auditor 7 —10
Statement ofFinancial Activities
Balance Sheet 12
Cash Flow Statement 13
Notes to the Financial Statements 14 —20

Unrestricted
Expendable Unrestricted
Endowment income Total
NOTE 2021 2021 2021 2020
E 6
INCOME
Investment
income		 637,696 637,696 873,568
Other income 78,654 78,654 66,000
TOTAL INCOME 716,350 716,350 939,568
EXPENDITURE
Costs ofgenerating funds 156,324 156,324 120,523
Charitable
activities		 631,395 631,395 767,873
TOTAL EXPENDITURE 787,719 787,719 888,396
Gains /(losses) on investments
Gains/(Losses)
on revaluation		 9 3,400,351 3,400,351 (2,494,072)
Realised Gains on disposal 9 230,532 230,532 47,787
Unrealised
gains on		 revaluation 13 260,998
of Investment
property
NET INCOME/(EXPENDITURE) 3,630,883 (71,369) 3,559,514 (2,134,115)
(Losses)/Gains
on foreign exchange		 (15,451) (15,451) 4,854
NET MOVEMENT IN FUNDS 3,615,432 (71,369) 3,544,063 (2,129,261)
RECONCILIATION OF FUNDS
Total funds brought forward 29,048,451 237,147 29,285,598 31,414,859
BALANCE CARRIED FORWARD 32,663,883 165,778 32,829,661 29,285,598

NOTE 2021 2020
6
FIXEDASSETS
Investment
Property		 5,195,000 5,130,000
Investments 26,759,023 21,794,278
31,954,023 26,924,278
CURRENT ASSETS
Debtors 10 46,508
Cash at Bank 890,703 2,429,220
937,211 2,429,220
LIABILITIES
Creditors: falling due within one year (61,573) (67,900)'
NET CURRENT ASSETS 875,638 2,361,320
TOTAL ASSETSLESSCURRENT LIABILITIES 32,829,661 29,285,598
Representing:
UNRESTRICTED FUNDS
Expendable
Endowment		 12 32,663,883 29,048,451
Income 12 165,778 237,147
32,829,661 29,285,598
Note 2021 2020
NET CASH ABSORBED BYOPERATING ACTIVITIES (856,005) (967,057)
(see below)
Cash flows from investing
activities
Dividends
and interest from		 investments 4 637,696 873,568
Other Incoming Resources 4 78,654 66,000
Proceeds from the sale of investments 9 3,090,333 8,391,343
Purchase ofinvestments 9,13 (4,489,195) (7,750,000)
Net cash provided
by investing		 activities (617,512) 1,580,911
Change in cash in period ended 31March 2021 (1,538,517) 613,854
Cash brought forward 2,429,220 1,815,366
Cash at 31March 2021 890,703 2,429,220
RECONCILIATION
OF NET		 MOVEMENT
IN FUNDS
TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net movement
in funds for the		 period ended 31March 2021 3,544,063 (2,129,261)
(as per the Statement of Financial Activities, page 11)
Adjustments
for:
Dividends
and interest from		 investments 4 (637,696) (873,568)
Other Incoming Resources 4 (78,654)) (66,000)
Realised loss on the sale ofinvestments 9 (230,532) (47,787)
Unrealised
loss in revaluing		 investments 9 (3,400,351) 2,233,074
(Increase)/Decrease
in debtors		 10 (46,508) 27,428
(Decrease) in creditors 11 (6,327) (110,943)
Net cash provided
by operating		 activities (see above) (856,005) (967,057)

2021 2020
6
Income from Investments 637,615 872,973
Rent from investment property 78,654 66,000
Interest on cash deposits 81 595
716,350 939,568
COSTS OF GENERATING FUNDS
2021 2020
Investment Management Fees 99,929 90,502
Custodian Fees 19,795 21,955
Investment Property Fees 36,600 8,066
156,324 120,523

6
Westminster
City School General Charitable		 Trust 50,000
Fleming Wyfold Art Foundation 25,000
Game &Wildlife Conservation Trust 25,000
(The) Garden Museum 25,000
Missing Salmon Alliance 25,000
Grants above E2,000and below f25,000 329,534
Grants f2,000and below 96,000
575,534

2021 2020 2021 2020
No. No.
The prevention
or relief ofpoverty		 16 10 55,500 46,000
The advancement
ofeducation		 24 23 172,534 192,530
The advancement
ofreligion		 4 5 32,000 58,000
The advancement
ofhealth or the saving		 ofhves 29 28 83,500 256,500
The advancement
ofcitizenship
or community		 development 4 7 5,000 40,000
The advancement
of the arts, culture, heritage.		 or science 12 7 104,000 40,000
The advancement
ofamateur sports		 2 6 4,000 14,000
The advancement
ofhuman
rights, conflict resolution		 or the 1 1,000
promotion ofreligious or racial harmony or equality and
diversity
The
advancement
of
environmental		 protection or 53,000 27,000
improvement
The relief of those in need by reason ofyouth, age, ill-health, 22 40,000 26,000
disability,
financial hardship
or other disadvantage
The advancement
ofanimal welfare		 25,000 11,000
The promotion
of the efhciency of the		 armed forces of the 1,000 2,000
Crown,
or of the efhciency
of the police, fire and		 rescue
services or ambulance
services
127 107 575,534 714,030
Reversal ofPrior Year Cancelled Grant (5,000)
Support and Governance
costs (see note		 S) 55,861 58,843
Total 127 107 631,395 767,873

Unrestricted Unrestricted 2021 2020
Expendable Income Total Total
Endowment
E
Support /Administrative Costs
Charity Administration and Financial Reporting 45,742 45,742 48,352
Governance
Costs
Auditor's
remuneration:		 current year 10,000 10,000 10,000
Auditor's
remuneration:		 prior year over accrual (220) (220) (520)
Legal and Professional Fees 720
Bank charges 339 339 291
To Charitable
activities		 (55,861) (55,861) (58,843)

ovement
i		 n fixed asset inve stments
Unlisted Securities Listed Securities Total
2021 2020 2021 2020 2021 2020
6
Market Value brought forward 696,878 1,010,341 21,097,400 23,871,565 21,794,278 24,881,906
Add acquisitions
at cost		 4,424,195 7,750,000 4,424,195 7,750,000
Less disposal proceeds (110,923) (384,073) (2,979,410) (8,007,270) (3,090,333) (8,391,343)
Realised (loss)/gains
on disposal		 (15,689) 44,005 246,221 3,782 230,532 47,787
Net (loss)/gain on revaluation (92,191) 26,605 3,492,542 (2,520,677) 3,400,351 (2,494,072)
Market Value at31March 478,075 696,878 26,280,948 21,097,400 26,759,023 21,794,278
Historicaf Cast at 31March 831,467 966,705 24,252,172 22,675,432 25,083,639 23,642,137
Geographical Analysis
United Kingdom
Investments		 20,247 152,530 24,344,664 19,448,145 24,364,911 19,600,675
Overseas Investments 457,828 544,348 1,936,284 1,649,255 2,394,112 2,193,603
478,075 696,878 26,280,948 21,097,400 26,759,023 21,794,278
Investment Holding Value
Charities Property Fund 2,431,129 3,018,611
Artemis Income Fund 950,192 2,318,752
Rathbone Ethical Bond Fund 2,089,223 2,167,151
Bailie Gifford International Fund 25,895 2,160,931
M&G Equity Investment Fund for Charities 136,959 2,016,601
Royal London Ethical Bond Fund
CFTrojan INC "S"		 1,661,041
1,003,775		 1,978,300
1,765,743
Evenlode Global Income Fund 1,279,883 1,654,890
BNY Mellon Global Income Fund 884,564 1,643,344
Artemis GBI.SEL 1.072,869 1,427,967
Trojan Income Fund 495,054 1,413,135
Hermes 773,612 1,367,747

2021 2020
6
Rent Due 45,654
Rent Deposit 854
46,508
11. CREDITORS -amounts falling due within one year
Creditors falling due within one year
2021 2020
6
Accruals 53,793 67,900
Grants Creditors 7,780
61,573 67,900
Unrestricted
Expendable Unrestricted 2021
Endowment Income Total
6 6
Property 5,195,000 5,195,000
Investments 26,759,023 26,759,023
Cash at Bank 709,860 180,843 890,703
Debtors 46,508 46,508
Creditors (61,573) (61,573)
32,663,883 165,778 32,829,661
Unrestricted
Expendable Unrestricted 2020
Endowment Income Total
6
Property 5,130,000 5,130,000
Investments 21,794,278 21,794,278
Cash at Bank 2,124,173 305,047 2,429,220
Debtors
Creditors (67,900) (67,900)
29,048,451 237,147 29,285,598

Purchase price 4,186,166
Additions during 2013 4,200
Additions during 2015 9,002
Additions during 2021 65,000
Unrealised gain 2014 669,634
Unrealised gain 2020 260,998
5,195,000