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|||**2021**|**2020**|
|---|---|---|---|
||**Notes**|||
|**Fixed Assets**||||
|Investments −Equities|8&9|5,505,206|4,228,464|
|−Freehold Property|10|462,350|462,350|
|−Leasehold Property|11|184,901|184,609|
|Office equipment|12|11|14|
|**Total Fixed Assets**||**£6,152,468**|**£4,875,437**|
|**Current Assets**||||
|Secured loans|13|15,000|15,000|
|Short term deposits|14|1,397,797|1,391,318|
|Debtors|15|554|1,144|
|Cash at Bank and in hand||141,323|175,312|
|**Total Current Assets**||**1,554,674**|**1,582,774**|
|**Liabilities:**||||
|Creditors falling due within one year|16|10,481|8,798|
|**Net Current Assets**||**£1,544,193**|**£1,573,976**|
|**Net Assets**||**£7,696,661**|**£6,449,413**|
|**Total Funds**||**£7,696,661**|**£6,449,413**|





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|||**2021**|**2020**|
|---|---|---|---|
||**Notes**|||
|**Incoming Resources**||||
|Investment income|4|112,678|132,256|
|Realised gains on investments|7|55,651|48,491|
|Rental Income|5|8,724|3,135|
|**Total Incoming Resources**||**£177,053**|**£183,882**|
|**Resources expended**||||
|Charitable activities|6|80,056|100,460|
|**Total resources expended**||**£80,056**|**£100,460**|
|**Net incoming resources before other**||||
|**recognised gains**||**96,997**|**83,422**|
|**Other recognised gains and losses**||||
|Unrealised gains/(losses) on investment assets|8 & 10|1,150,251|−558,393|
|**Net movement on funds**||**1,247,248**|**−474,971**|
|Fund Balance brought forward 6 April 2020||£6,449,413|£6,924,384|
|**Fund Balance carried forward at 5 April 2021**||**£7,696,661**|**£6,449,413**|





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|was £550 (2020 −£500).|||||
|---|---|---|---|---|
||||2021|2020|
|**Note 4 −Investment Income**|||||
|Interest received on short term deposits|||1,478|5,947|
|Bank interest|||146|986|
|Dividends|||111,054|125,323|
||||£112,678|£132,256|
|**Note 5 −Rental Income**|Freehold||||
||1/3 share|Freehold|Leasehold||
||8 Kinqscroft|10 Gables|5 Ryman Court|Total|
|Rent Received||6,000|2,724|8,724|
|Less expenditure:|||458|458|
|Maintenance|645|||645|
|Insurance|||495|495|
|Rent|||424|424|
|Service charge|||2,472|2,472|
|Net Rental Income|−£645|£6,000|−£1,125|£4,230|
|**Note 6 −Charitable Activities**|||||
|Grants made|||35,700|56,923|
|Support costs:|||||
|Property cost (see note 5)|||4,494|1,227|
|Portfolio management fees|||35,214|36,412|
|Office and administration|||1,650|2,900|
|Depreciation of office equipment|||3|3|
|Accountancy fees|||2,395|2,395|
|Independent examination|||600|600|
|Net Rental Income|||£80,056|£100,460|



|Valuation at 5 April 2020|292,731|1,012,643|
|---|---|---|
|Cost in year of investments realised|2,182||
|Realisation proceeds|350,564|1,061,134|
||£55,651|£48,491|





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||||
|---|---|---|
|**Note 8 −Unrealised losses on Investment Assets**|2021|2020|
|Value of investments held 5 April 2020|4,228,464|4,808,812|
|Value of investments realised in the year|−294,913|−1,012,643|
|Cost of investments made in the year|421,404|1,074,638|
||£4,354,955|£4,870,807|
|Value of investments held 5 April 2021|£5,505,206|£4,228,464|
|Unrealised (losses)/gains during the year|£1,150,251|−£642,343|
|**Note 9 −Investments at Cost**|||
|Portfolio managed by Smith & Williamson|£4,026,704|£3,891,368|



## 

|||||
|---|---|---|---|
|**Note 10 Freehold Property**|1/3 share|||
||8 Kingscroft Rd|||
||Leatherhead|10 Gables||
||Surrey|Leighton Buzzard|Total|
|VALUATION at 5 April 2020|120,000|£342,350|462,350.|
|Additions during the year|||0|
|Unrealised gain in the year||||
|**COST at 5 April 2021**|£120,000|£342,350|£462,350|



|**Note 11 Leasehold Property**|5 Rymans Court|
|---|---|
||Didcot, Oxfordshire|
|Cost at 5 April 2020|£184,609|
|Expenditure during the year|292|
|COST at 5 April 2021|£184,901|





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||||
|---|---|---|
|**Note 12 −Office Equipment**|2021|2020|
|Cost att 5 April 2020|£4,307|£4,307|
|Cost at 5 April 2021|£4,307|£4,307|
|Depreciation at 5 April 2020|4,293|4,290|
|Charge for the year|3|3|
|Depreciation at 5 April 2021|£4,296|£4,293|
|Written down value 5 April 2021|£11|£14|
|**Note 13 Secured Loans**|||
|The loans which are secured on freehold property are:|||
|10 Stringwalk, Hailsham, East Sussex BH27 2DA|£15,000|£15,000|
|**Note 14 −Short Term Deposits**|||
|Smith & Williamson|286,235|281,139|
|Barclays Wealth Saving|1,111,562|1,110,179|
||£1,397,797|£1,391,318|
|**Note 15— Sundry Debtors**|||
|Prepaid expenses|554|396|
|Other debtors||748|
||£554|£1,144|
|**Note 16 −Sundry Creditors**|||
|Accrued expenses|7,646|5,963|
|Funds to publish books|2,835|2,835|
||£10,481|£8,798|