THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2022
Chartty Number 1109911

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
CONTENTS PAGE
Pages
Reference and adminislralion details
Report of the trustee
Independent Examiner's report
Receipts and payments account
Statement of assets and liabilities
Appendix 1

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
REFERENCE AND ADMINISTRATION DETAILS
Corporate Trustee
HSBC Trust Company IUKI Limited
Current Dlrectors of Corporate Trustee
J Coyle
J Hewilson
P M Spencer
Trust Manager
J Wiles
Principal Office
Forum 1
The Forum Parkway
Whiteley
Fareham
Hampshire
P015 7PA
Independent Examiner
Frances Millar ACA
RSM UK Tax and Accounting Limited
Highfield Court
Tollgate
Chandlefs Ford
Easlleigh
Hampshire
S053 3TY
Bankers
HSBC Bank plc
Forum 1
The Forum Parkway
Whileley
Fareham
Hampshire
P015 7PA
Investment Managers
HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 5 APRIL 2022
The Trustee presents its report together with the financial statements of the trust for the year ended 5
April 2022, which have been prepared on a receipts and payments basis. The financial statemen15
have been prepared in accordance with the tTUSt's con51ilution and applicable law.
The purchase and sale of investmen15 results from the day to day management of the investment
portfolio by the Investment Managers. In accordance with the Charities Act. the a¢counls have been
prepared on the receipts and paymenls basis given that the definition of gross income excludes the
receipt of any endowment, loans and proceeds from the sale of investments or fixed assets
Structure, government and management
The Joyce Lomax Bullock Charitable Tmst is an unincorporated trust and is constituted under the will
dated 12 Novembef 1996 and probate granted 9 May 2005. The trust is a registered charity Ino.
11099111.
The Corporate Trustee has appointed a designated Trust Manager to look after the charity. The
Investment Manager reviews the performance and provides recommendations on the structure of the
investment portfolio.
The power lo appoint addrtional Trustees is vested in the current Trustee and is exercisable in writing.
Should new Trustees be appointed. the existing Trustee would lake responsibility of their induction.
The Trustee has examined the major slralegic. business and operational risks which the trust faces
and confitms that systems have been established lo enable regular reports to be produced so that the
necessary steps can be taken lo mitigate these risks. The main risk in the year was the variability of
investment returns.
Objectives and activities
The objectives of the charity are to pay or to apply the income of the trust for each charitable objective
or purpose as the Trustee thinks fit, in accordance with the governing document.
The charity awards grants lo charitable institutions. The Trustee reviews applications for grants when
received and award grants at their discretion.
Achievements and performance
DLJring the year 9 grants tolalling £35.056 12021.. 9 grants lolalling £71,100} were awarded lo a variety
of charitable inslilulions under the terms of the governing document. During the year no grants were
returned. No grants were awarded lo individuals in either year.
Financial review
The fund generated income of £67,06212021". £65,196} in the year to fund ils charitable activities.
The expenditure on charitable activities wa5 £61,218 12021. £94.1551. of which £35.056 12021..
£71,100} was charitable expenditure in the form of grants to charitable institutions.

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED 5 APRIL 2022
Investment policy
In accordance with the governing document, the Trustee h35 the power to invest in such stocks,
shares. investments and property as they see fit. The Trustee engaged HSBC UK Bank plc as
Investment Managers. The policy is to adopt a low lo medium risk investment strategy lo protect, in
absolute terms, the capital value of the fund whilst producing a sustainable and growing level of income
and providing the potential for longer temi growth of capital in real terms.
Reserves policy
The unrestricted funds, which are the free reserves of the trust, and which are rep￿sented by the
income arising are paid over to beF)eficiaries throughout the year. It is not the policy of the trust to
maintain specific reserves.
The expendable endowment funds represent those a55ets. which are held permanently by the trust.
principally invÈslments. Income arising on the endowment fund can be used in accordance with the
objectives of the trust and is included as unreslricled income. Any capital gains or losses arising on the
investments form part of the fund. The Trustee has the power lo convert this fund into income.
Publ5¢ benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public
benefit when reviewing our aim and objectives and in plannirig our future activities. In particular, the
Trustee considers how planned activities will contribute to the aims and objectives they have sel.
Plans for the future
The Trustee intends to continue providing grants in a similar way to the recent past whilst retaining
flexibility as to the liming and scale of grant making.
Related parties
The Corporate Trustee and the Investment Managers are both wholly owned subsidiaries of HSBC
Holdings plc.
In addition to those fees shown on page 6. as a result of the acquisition and disposal of investments,
the trvst pays transaction charges lo HSBC Bank plc. The charges are calculated on a sliding Scale at
a percentage of the transactions value plus VAT and are added to or deducted from the cost of the
investments or the disposal proceeds in accordance with UK standard accounting practice.

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED S APRIL 2022
Statement of trustee's responsibilities in relation to the financial Statements
The law applicable lo charities in England and Wale5 requires the trustee lo prepare financial
statements for each financial year which give a true and fair view of the trust's financial activities during
the year and of it's financial position at the end of the year. In preparing those financial statements.
giving a true and fair view. the Trustees should follow best practice and..
select suitable accounting policies and then apply them consistently..
make judgements and estimales that are reasonable and Pfudent.,
slate whether applicable accounting standards and statements of recommended practice have
been followed, subject to any departures disclosed and explained in the financial slalements",
and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the trust will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy
the financial position of the charity. This enables them lo ascertain the financial position of the charity
and enables them to ensure the financial statements comply with the Charitie5 Act 2011, the Charity
(Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The Trustee is responsible for safeguarding the assets of the trust and hence for tsking reasonable
steps for the prevention and detection of fraud and other irregularities.
Approved by the trustee and signed on its behalf..
rust Co
pany IUKI Limited
Dale:
s£//gczg

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEE OF THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
I report lo the trustee on my examination of the financial statements of the Joyce Lomax Bullock
charitable trust for the year ended 05 April 2022, which are sel out on pages 6 to 7.
Responsibilities and basis of report
As the Trustees of the trust you are responsible for the preparation of the financial statements in
accordance wrth the requirements of the Charities Act 2011 I'the 2011 Act'i.
I report in respect of my examination of the trust's financial statements carried out under section 145 of
the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by
the Charrty Commission under section 145151{bl of the 2011 Act.
An independent examination does not involve gathering all the evidence thal would be required in an
audit and consequently doe5 not cover all the Matters that an auditor considers in giving their opinion
on the financial statements. The planning and conduct of an audit goes beyond the limited assuiance
that an independent examination can provide. Consequently. l express no opinion as to whether the
financial Statements present a 'true and fair view, and my report is limited to those specrfic matters set
out in the independent examiner's statement.
Independent examiner's statement
I have eompleted my examination. I confirm Ihal no material matters have come to my attention in
connection with the examination giving me reasonable cause to believe that in any material respect..
accouriting records were not kept in respect of the trust as required by section 130 of the 2011
Act.. or
2. the financial slalements do not accord with those records". or
3. the financial statements do not comply with the applicable requirements concerning the form
and content of financial statements sel out in the Charities (Financial statements and Reports)
Regulations 2008 other than any requirement that the financial statements give a 'true and fair
view, which is not a matter considered as part of an independent examination.
I have no conceins and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the financial
statements to be reached.
Frans&5 fvlillar
Frances Millar ACA
Chartered Accountant
The Institute of Chartered Accountants in England and Wales
On behalf of RSM UK Tax and Accounting Limited
Chartered Accountants
Highfield Court
Tollgate
Chandlers Ford
Easlleigh
Hampshire
S053 3TY
26-Jan-2023
Date:

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2022
Unrestricted
funds
Endowm&nt
funds
Total
2022
Total
2021
Receipts
Investh)enl income
67.C62
67,062
65,19S
67.CE2
67,062
65,19S
Invest￿￿Trt salg procggd$
Proceeds froTh the sale of investments
3,169.127
3,169,127
2.ris,940
Total receipts
67,062
3.169.127
3,236.189
2,842.136
PayffEnts
Cost of generating funds
Investment service charge
24,295
24,295
24,533
Charltable activitles
Grants paid
Other allocated costs
35.056
26.162
35,056
26.162
71.100
23.055
Governance costs
Independent examiner's fee
2,028
2,028
63.246
24.295
87,541
120.656
Investment purchases
Payments for purchases of investments
3.074.494
3.074.494
2.727.634
Total payrnnts
63.246
3,098,789
3,162.03S
2,848.29)
Nel receip151lpaymentsl
3,816
70,338
74,154
16.1541
Transfers be￿￿n funds
21,D52
121.0521
Cash invested al 6 ￿ri1 2021
11,235
68.217
79,4S2
85,6L
Cash invested al 5 April 2022
36.103
117.503
153,606
79.452
These unaudited financial statements have been subjected lo independent examination. See report on
page 5.

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES
AT S APRIL 2022
Unrestricted Endown*nt
funds
funds
Total
2022
Total
2021
Investments
UK Fixed Interest Securities
Overseas Fixed Interest Securrties
UK Equrties
Overseas Equities
ternalive Investment
Other Trust Assets
Cash
438,445
1,574,714
160,995
1.314,818
339,434
438,445
1.574,714
160.995
1,314,818
339,434
115.945
2,794,945
55,760
768,188
36,103
117,503
153,606
79,452
Totsl assets
36,103
3,945,910
3,982,013
3,814,290
Liabilities
Professional fees payable
2,132
2,132
2.030
Approved by the Iruslee and authorised for issue on....
and signed on it5 behalf..
10112¢?3... ......
HSBC
usl Company (UK) Limited
These unaudited financial statements have been subjected lo independent examination. See report on
page 5

THE JOYCE LOMAX BULLOCK CHARITABLE TRUST
APPENDIX 1
BREAKDOWN OF CHARITABLE GRANTS
Number of
grants
Arnunt
Institution
UK
Cancer Research UK
Guide Dogs For The Blind
MIK Health Centre Foundation
Perennial
Royal Airforce Benevolent Fund
Royal British Legion
Sight Savers International
The National Trust
3,896
3,895
3,895
3,895
3,895
3,895
3,895
3,895
3,895
35,056