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|||~Aointed|
|---|---|---|
|Sir Alan Reid GCVO|||
|Nathan<br>Thompson|CVO||
|Kathryn<br>Matthews|||
|Hugh Bullock|||
|Sir Michael Stevens|KCVO||
|Lord Downshii'e|||
|Marcus Rose|||
|Chdis Adcock, CVO||08Sep 20|





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|Advisors|||||||||
|---|---|---|---|---|---|---|---|---|
|Bankers:||Coutts &Co.|||Solicitors:|Farrer &Co.|LLP||
|||440 Strand||||66 Lincoln's|Inn Fields||
|||London||||London|||
|||WC2R OQS||||WC2A 3LH|||
|Investment|manager:|Newton<br>Investment<br>160Queen Victoria|Management<br> Street|Ltd|Auditors:|Saffery Champness<br>71 Queen Victoria||LLP<br> Street|
|||London||||London|||
|||EC4V 4LA||||EC4V4BE|||






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|||FOR THE YEAR|TO 31st MARCH|2021|||
|---|---|---|---|---|---|---|
||||Unrestricted|Expendable|Total|Total|
||||Fund|Endowment|||
|||||Fund|2021|2020|
|||Notes|F||||
|Income and endowments|from:||||||
|Donations||2|||||
|Investments||3|467,515||467,515|624,644|
|Total|||467,515||467,515|624,644|
|Expenditure<br>on:<br>Charitable<br>activities||4|360,481||360,481|358,051|
|Total|||360,481||360,481|358051|
|Net gains/(losses)<br>on investments<br>Net income/(expenditure)|||107,034|4,126,073|4,233,107|(1,817,681)|
|Transfer between<br>funds|||||||
|Net movement<br>in funds|||107,034|4,126,073|4,233,107|1,817,681|
|Reconciliation offunds:<br>Total funds brought forward|||543,900|19,321,370|19,865,270|21,682 951|
|Total funds carried forward|||650,934|23,447,443|24,098,377|19,865,270|
|||STATEMENT OF FINANCIAL ACTIVITIES|||||
|||FOR THE YEAR|TO 31st MARCH|2020|||
|||||Unrestricted|Expendable|Total|
|||||Fund|Endowment||
||||||Fund|2020|
|||Notes|||F|F|
|Income and endowments|from:||||||
|Donations|||||||
|Investments||||624,644||624,644|
|Total||||624,644||624,644|
|Expenditure<br>on:<br>Charitable<br>activities||||358,051||358,051|
|Total||||358,051||358,051|
|Net gain on investments<br>Net income/(expenditure)||||266,593|2,084,274<br>2,084,274|2,084,274<br>1,817,681|
|Transfer between funds|||||||
|Net movement<br>in funds||||266,593|2,084,274|1,817,681|
|Reconciliation<br>offunds:|||||||
|Total funds brought forward||||277,307|21,405,644|21,682,951|
|Total funds carried forward||||543,900|19,321,370|19,865,270|





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|||||2021|2020|
|---|---|---|---|---|---|
||||Notes|||
|Fixed Assets||||||
|Investments||||23,796,768|19,670,695|
|Current Assets||||||
|Debtors||||19|393|
|Cash and deposits||||305,790|553,752|
|||||305,809|554,145|
|Creditors:|amounts|falling due within one year||||
|Accruals|||11|(4,200)|(9,570)|
|Other Creditors|||12||350000|
|Net Current|Assets|||301,609|194,575|
|Net Assets||||24,098,377|19,865270|
|Capital Fund||||||
|Expendable|Endowment||13|23,947,443|19,821,370|
|Income Fund||||||
|Unrestricted|General|Fund|13|150,934|43,900|
|||||24,098,377|19,865,270|





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|||||Total|Total|
|---|---|---|---|---|---|
|||||2021|2020|
||||Notes|||
|Net cash oufflow from operating<br>activities|||14|715,477|4,931|
|Cash flows from investing<br>Dividends|activities|||467,350|623,409|
|Interest||||165|1,235|
|Purchase of investments|||||(500,000)|
|Net cash inflow/(oufflow)|from investing|activities||467,515|124,644|
|Change<br>in cash and cash equivalents<br>in the||year||(247,962)|119,713|
|Cash and cash equivalents|at start ofyear|||553,752|434,039|
|Cash and cash equivalents|at end ofyear|||305,790|553752|
|r||||||
|The notes on pages 11to 14form part ofthese accounts.||||||





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|8.|Reconciliation|ofmovement|of|investments|2021.|2020||
|---|---|---|---|---|---|---|---|
||||||F|||
||Authorised<br>unit|trusts:||||||
||Market value at 1st April 2020||||19,670,695|21,254,969||
||Additions|||||500,000.00||
||Disposals|||||||
||Net realised gain/(loss)|||||||
||Net unrealised|gain/(loss)|||4,126,073|2,084,274||
||Market value at 31st March 2021||||23,796,768|19,670,695||
||All investments|are in authorised||unit trusts.||||
|9.|Debtors||||2021|2020||
||||||F|||
||Deposit interest||||||393|
||||||19||393|



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|||||||
|---|---|---|---|---|---|
|Accrua|ls|||2021|2020|
|Audit||||4,200|3,000|
|Other|||||6,570|
|||||4,200|9,570|
|Other|Creditors|||2021|2020|
|||||F||
|Donations|||||350000|
||||||350,000|
|Net assets by fund||||||
|||2021||2020||
|||Unrestricted||Unrestricted||
|||General|Expendable|General|Expendable|
|||Fund|endowment|Fund|endowment|
||||F|F|F|
|Investments<br>Current assets<br>Current<br>liabilities||155,134<br>~4.200|23,796,768<br>150,675|403,470<br>~359570|19,670,695<br>150,675|
|Net Assets||150,934|23,947,443|43900|19,521,370|



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|econcaon onet income|expenditur|e)<br>to net c|ash ouNow from op|erating<br>activities||
|---|---|---|---|---|---|
|||||2021|2020|
|||||F||
|Net income (expenditure)<br>as per <br>Adjusted for:|statement|offinancial|activities|4,233,107|(1,817,681)|
|Net (gains)/losses<br>on investments<br>Investment<br>income||||(4,126,073)|2,084,274|
|Decrease/(increase)<br>in receivables<br>(Decrease)/Increase<br>in payables<br>Net cash outflow from operating<br>activities||||(467,515)<br>374<br>~355.370<br>715,477|(624,644)<br>150<br>352,970<br>4,931|





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|Ssnehrnark|indioes||
|---|---|---|
|FTSEGovt.|All Share|50|
|FTSEWorld|(ex UK|25|
|FTSEGovt.|All Stocks|20|
|7-day cash|||



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