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2020-12-31-accounts

		Page
ReFerence and admlnlstratlve	details ofthe Charity, its Trustees and advisers	1
Trustees' report		2-5
Independent auditors' report	on the Qnanclal statements	6-8
Statement offlnanchl actlvltles
		10
Statement ofcash flows
Notes tothe flnanchd statements		12-19

Managing	Trustees	Mark Eldridge, President	Mark Eldridge, President	Mark Eldridge, President
		Aiistair Cole, Chairman
		Matt Howard Cairns,		Vice President
		Kate Holland-Smith,		Vice Presklent
		Myles Watkins, Treasurer
		JoGreenbury, Secretary
		John Davies
		Seb Hoyle
		James Isaacs
		Charles Newington	Bridges
		Brioney Denner
		Tamsin Robertson
		Jeremy Walters
		Lucinda Farmer
Charity mglstered
number		1113320
Prtncl pal oNce		Old Cliftonian Sodety
		32College Road
		Cliflon
		Bristol
		BS83JH
Independent	auditors	Bishop Fleming LLP
		Chartered Accountants
		Statutory Auditors
		10Temple Back
		Bristol
		BS16FL
Bankers		National Westminster		Bank pic
		PO Box220
		44Caledonia Place
		Bristol
		BS995AJ
Investment	Managers	Smith &Williamson	Investment		Management	LLP
		Portwall Place
		Portwall Lane
		Bristol
		BS16NA

FUMD IcoKnNuED) Iho 8U USE OF OUR REPORT 10 Tgmplo Back 8S16FL . 14 Mfiych IOIL Py8

				Unrestrlcled	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
				2020	2020	2020	2020	2019
			Note		E	R	R	F
Income and
endowments		from:
Donations and		legacies	2	30,357	39,146	20,000	89,503	195,584
investmenfs				5	33,215	52,929	86,149	119,542
Total Income	and
endowments				30,362	72,361	72,929	175,652	315,126
Expenditure	on:
Investment
Management		Fees			12,481	19,888	32,369	30,992
Charitable activibes				81,798	50,243		132,041	102,621
Total expenditure				81,798		19,888	164,410	133,613
NET INCOWIIE
BEFORE
INVESTNIENT
GAINS/(LOSSES)				(51,436)	9,637	53,041	11,242	181,513
Net gains on
investments					130,320	207,666	$$7,986	728,377
Net (expencliture)
Ilncome				(51,4$6)	1$9,957	260,707	349,228	909,890
Transfers between
funds				76,466	19,752	(96,218)
Net movement		in
funds				25,030	159,709	1~489	349,228	909,890
Reconciliation		of
funds
Total funds brought
forward				114,910	2,064,996	2,883,756	5,063,662	4,153,772
Net movement	in funds			25,030	159,709	164,489	349,228	909,890
Total funds carried
forwanl				139,940	2,224,705	3,048,245	5,412,890	5,063,662

STATEMENT OFCASH FLOWS
FOR THE YEAR ENDED 31DECEMBER 2020
			2019
Cash flows from operating activities
hlet cash used in operating activities		(65,859)	47,233
Cash flows from investing activities
Dividends, interests and rents from investments		86,149	119,542
Proceeds from sale ofinvestments		772,570	1,022,533
Purchase ofinvestments		(713,538)	(1+07,801)
Net cash provided by/(used in) investing	activities	145,181	(65,726)
Change in cash and cash equivalents in	the year	79,322	(18,493)
Cash and cash equivalents at the beginning	ofthe year	151,873	170,366
Cash and cash equivalents atthe end ofthe year		231,195	151,873
The notes on pages 12to 19form part ofthese financial statements

								Balance at
		Balance at	1					31
		January				Transfers	Gains/	December
		2020 f		Income f	Expenditure f	in/outf	(Losses)f	2020f
UNRESTRICTED
FUNDS
General Funds		114,910		30,362	(81,798)	76,466		139,940
ENDOWMENT
FUNDS
Capital Fund
Endowment		2,883,756		72,929	(19,888)	(S6,218)	207,666	3,048~
RESTRICTED
FUNDS
RC Hancom
Fund		117,570		2,352	(5,$61)	2,782	8,639	125,382
Vernon
Croucher	Fund	70,124		1,273	(1,812)		4,995	74,640
WRTaylor	Fund	407,594		7,546	(10,835)		29,607	434,366
Hugh Davie
Fund		190,024		3,531	(1,327)		13,854	206,082
David Jones
Fund		321,380		5,564	(8,534)	879	21,831	341,120
Colquhoun	Fund	72,714		1,971	(5,356)	3,029	3,719	76,077
Shenstone	Fund	284,639		10,616	(6,584)		16,543	305,214
Clive Smith
Fund		486,104		6,785	(21,882)		26,620	510,175
Polish Fund College~e		40,109		882	(129)		1,344	42,206
Fund		46,439			(248)		2,58$
Herbert and
Connie Futter
Fund		28,299		22,581	(56)			51,403
1970Fund				8,600				8,600
		2,064,9S6		72,361	(62,724)	19,752	'I30+20	2+24,705
TOTAL OF
FUNDS		5,063,662		175,652	(164,410)		337,986	5,412,890

		Balance at					Balance at 31
		1January			Transfers	Gains/	December
		2019	Income	Expenditure	in/out	(Losses)	2019
UNRESTRICTED
FUNDS
General Funds		69,980	48,809	(47,161)	43~2		114,910
ENDOWMENT
FUNDS
Capital Fund
Endowment		2,409,090	93,449	(19,042)	(47+71)	447,530	2,883,756
RESTRICTED
FUNDS
RC Hancom
Fund		99,745		(6,192)	2,195	18,616	117,570
Restricted
Vernon
Croucher	Fund	58,052	1,767	(458)		10,763	70,124
WR TaylorFund		344,033	10,472	(10,715)		63,804	407,594
Hugh Davie
Fund		160,541	4,897	(5770)		29,856	190,024
David Jones
Fund		259,170	22,722	(7,559)		47,047	321,380
Colquhoun	Fund	42,701	27,340	(5,341)		8,014	72,714
Shenstone	Fund	214,087	41,419	(6,518)		35,651	284,639
Clive Smith
Fund		391,765	59,415	(22,443)		57,367	486,104
Polish Fund		36,827	508	(123)		2,897	40,109
College Lodge
Fund		40,682	916			5,579	46,439
Herbert and
Connie Futter
fund		27,099		(2,053)	1,794	1W3	28,299
		1,674,702	172,868	(67,410)	3,989	280,847	2,064,996
TOTAL OF
FUNDS		4,153,772	315,126	(133,613)		728,377	5,063,662

ANALYSIS OF NETASSETS BETW	EEN FUNDS -CURREN	T PERIOD
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2020	2020	2020	2020
Fixed asset investments	132,184	1,995,856	3,048+45	5,176+85
Current assets	16+98	228,849		245,147
Creditors due within one year	(8,542)			(8,542)
TOTAL	139,940	2,224,705	3,048+45	5,412,890

			Unrestricted	Restricted	Endowment	Total
			funds	funds	funds	funds
			2019	2019	2019	2019
					f.
Fixed asset	investments			2,013,575	2,883,756	4,897,331
Current assets			117,790	51,421		169/11
Creditors due within one year			(2,880)			(2,880)
TOTAL			114,910	2,064,996	2,883,756	5,063,662
UNAPPIJED TOTAL RETURN
						2019
At 1 January					1,542,503	741,855
Total return	in the year				424,130	847,919
Total return	allocated	by the trustees			(96~8)	(47271)
At 31December					1,870+15	1,542,503