2020-12-31-accounts

Newstr.lid h&rKI Of￿ mr￿e 2020 Annual Report

2020 Trustees Annual Report The Objects of the Charlty Welcomefrom your Chalrman Chief Executlve's Report Achievements and Performance What we dld In 2020 Actfvities In 2020 10 Financlal Review 12 Risk Management 14 Plans and Objectlves 16 Committees and Almoners 17 OurArea Committees 18 Strurture. Governance and Management 20 Trusreeg Responslbilitie5 Statement 21 Independent Audltorfs Report Statement of Flnandal Actlvitie5 24 Balance Sheet Statement of Cash Flows 26 Notes to the Flnanclal Statements We are the helping hand of the 21 >)￿ Aepo

The Objects of the Charity To relieve persons who are in condltions of need or hardshlp and to relSeve the dlstress caused thereby through the provlslon of welfare for persons Y4ho are, or have been. employed In the selllng and d15tr1but6on of newspapers, magazlnes. and perlodltals (Yhe Tradej in the Unlted Klngdom, Induding thelr Immedlate faml ly and dependa nts. Engagement shall normally have been for a mlnimurn of five years. In order to enable the CharSty to meet its ObJert5 for the public benefit. Trustees and management are focused on generating sustslnable incomes to provlde welfare to qualifying benefitlarles and to dlstribute those funds In ways which deliver the best value support In the context of risorous governance. news trade

ielcome from your Chairman Everythlng that could be sald about 2020 already has been. It wa5 8 dlfflcult year personally and profe55ionally forjust about everyone. However, once 38ain thls Industry that we have all worked In and have loved throughout our careers stepped up to the plate. Ne￿PapÈr bTrJ ma8azlne teams created thekr trlles from bedrooms. kltchen¥ sofas, they c¢)uld find space to carry oui thelT foles, Prfft stoff and logtswcs companles Pflnted d1stTbbu￿ ttil throLyhout the UK. Wh<)lesalLYs dehvered to retsll¥s vtho In wrn were able lo proide with thelr ' I•￿1￿rIte n¢¥N￿perS and ma8uln•s. De5pllÈ the Immeftse thaNenge5 that cO￿d.79 threw up. the Pflrrt IrKIu5ty mwffirenily afKJ hasnl mk55ed a beaL Titk$ 7•Ère wodu<ed aThd d4￿￿[ed on tlm day- worthr 4ye call lithe rnlracl r Industy •lway5 re5p¢nded wtth profe55k)n•lism. w'de ard 4 caD.do attltude and thai makn li •ven mofe ImpNrant that we conunue to help our femow Industy brothers and 5wrs have fallen upon hard times and need some 5UFPYL be that f￿an(￿l or efflotbonBI. In 2020 when thot supwt was most need￿ mewstrp￿ also ￿epPed up to eftsiire QUT t￿ne￿￿?￿R5 cafthued io ger flnènclal SLbPPOrt thty needEd as well as a hamper of 8oodle5 to brighien th¢lf day. Cothd.19 réstrfubns pr￿enied 7A51ts to beneficIar￿5 50 ran8 them io make they herè dolTrgOK and let thorn knowwe were here for ihem, If they wantrd a <haL s Chalrm•Th Ifs èn honour to work wlth the NewstrAld teèm who have shown ￿e0t réslknnce throutsLrt 2Q20 and Mn￿1r￿1 a firsr class 5efvice 10 the people thai matter rTrost. our beneficlades, In addithon, our¥oluThteer arrrty of almonws Area Cmimlttets •lw be ￿lled upon to m8ke surè thii thop who need our 5uWrt contlnve t r2cehie L l 0 send rry thanks ¢0 the Bo•rd olTruStee% wellar• Commlttee. and InveSEment Comtrdryee for tllr Invcthmert wlrh NthwAld arbd lor 8Mng up Ilmè thelr busy xheduk5 to drlve rhe tharl lorwar And fln•lty. ne￿￿£t￿ts. whO￿$31t1 publk5hets- wkhoui YOU New5trNd Thr￿ be able io th the brtyalu￿1e byork that It doe5. y 2021 Is way. Therfs l*ht ètthe end of thewDnel lorall SW 51fE #nd I look fonvard to shaktng your hand orovlng ' you a hu8 * soon a5 Chr15 Whktty says I Ca￿￿, ' Il's an honour 10 Ivork with Ilie NewsirAid ILh•ani wlio Iiave shown sreal resilience Ihroughoul 2020 N•ll J•8g¢r Chalnnan

Actmties in 2020,: support work we do. Th15 Includes TnJsMes and mernbeTS ef Our Wèlfare and Inve51rnent ctsmmltlees. fvjl Volurt￿rs 8ÈT• ofthdr time arKI enew and are subjed to audttiruand DBS thedts bs (th￿19 reslrlcilons and IhE need to keep our benèfick¥s and wbluniÈers safe meant that rt was mpossible fof wr alrnorers to vlslt the people v 4)P)rt through 2020. Thls was one of the rnost Iricant Impatts of the ¥lrus on the Charlty as r•X onty are these vwts Val￿@d hl8hty ty mary benendarle& especlally tythose 4th0 are feellng lonely isolated bLrt they akngfve the V￿￿k do a human lace arvj allow us to SW In iouch vhth thè nèèds of bènèficlarbos. Ir bs wonh norlng Ihai on&off grants to regular beneflclarSes Oecllrbed ihls yw whkh may be be￿￿ v unablo to ￿$lL lftvtSth￿nt M)na8Èment The IrNestmeni Cornmltte met vl¢ieo conference vAih our manasef, Rathbone Invesvnenr M?na8¢menr wlth ￿Orn have a rnèn¥èment agreemenr. lnve5trnen￿ t¢4￿Wed lft the Come￿ of our agreed Irwe5tmen( Polloj s￿[ernenL Rathbone5 revlews the P)rtf￿10 on an on8olng basls and prudde5 a quar(erty valu•tloTr and report tts the Investrnent C¢ynmittee firnber% the CEO and FhurKlal Controller. Tfustees were Updat￿ at board mett eath Inwestmwt Comrdllw rnÈln& The Clwrty took a Thjmber of xeps to malnt¥n our support under Govemment rt5trbctlons and absencè of almoner visFts. In(ItsdI￿ Welfère Cwimlttee meetiry were hekl monthly to spe up our rryortse.. ovvi ben@ficlary payTnents were coMrted fr￿1 cheque to e￿ttrOnIC bank transfef 50 vnoney could reach benefidafles qulckly 4wlthout thfr need to le4we hrjne,. ore telephone calls I￿￿e made io vutherable. benefickartÈs to theck on thelf wellbe RegLllat￿n Itbé Chafty understands its duty io prote(1 the publio Indtsdlngwlnorab￿ poople, from unreasonably Intnaslve or persI￿e￿I fundr3151n8 •pproachts arO prÈssure to do￿￿e. We do not lundra15e Irom publlc throw door.to4oty, In addltlon to regular beneffts and one.off Fephofie or facÈ4trfacÈ fundfak51ng or dlrect mall gran￿ our dedkaied Welfare ieèm lo￿nL￿d appeals and our prlmary sources of Income ale to th5e on a fiJll 5pertrurn of vdf•r¢155UES dOn￿lOn￿ lottery fee& and Invt5tmeni retum& The kn(ludkng fbp05tLng to other orsanlsalhons whEre Charlty Is f@8lstered wlth the Fundralslng Regulator. necesury. We cThitinued ro rKovide a wofe551wl Wè received no fundrèlsln8 cwalnts kn rhe year. debt and budgetkng setvlce through our The Chathy has cornmercl￿ relalonshlps wlth r4allonshlP lih the Oebi Athlcp Found411on and whglesalers 14tho coltea rnonles on our behalf nxlety support through UL Ouf Fresh Siart tssè b￿SIn@￿S ufidHs￿n￿ the nee4J to PTOtecr Asslst p(ogrAmmÉ In conjunctk>n wtth the NFRN the public and hm thelr 0¥￿ pollclesw thls eflE(L $uppone(I tr¥diTr8 new$4ent5 vtho hove d￿KIed (o l¢b5e tradln8 or who wefe Vi¢¢ims of ¢rknÈ. PLLbllc 8tnefft The Trustees revJe4Y the atrns ob]eaive5 and I￿tIeS tsf the Charty at thÈii fftÈÈtlngs throughout ihe yt4r and confwrn that have regafd to the Charlty Commkssbrfs guldance on r." public befteflt ifi plannlhg aawand that they have complled thelf d￿ty In sectbon 17 of the Chatiiies 2011. FufEhef deials ol how th@ charty has fuFhlled its objects for pubuc benefii are glwen In the Achlevempnts afKI Performance seci of thfrs rewt. Our In44tirk Support Stheme launched In 2019 was 4 f¢xus for stspportlng those sufferlng from the econo￿{ Impacts of coronavk iiritLéfs Akhou8h aknoners wÈre to thlt beneAclar*5 and Area Commlttees were FKe¥thted fmm hDI(Ing hJKlralsln8 e￿ity we remaln Indebted w all of QLY vol￿)1¢￿$ who help to

Plans and Objectives Changes within our Industry are In Ilne wlth forecast arKI the coronavlrus pandemk Is only expected to have a short-term and manageable Impact on the Charlty. In the lon8-term. the contlnued contraction of the prlnt medla Industry wlll have a more s18nlflcant effect as our core Tevènues contlnue to decline. In order to meet Its core purpose. NewStr￿d Trus(ees re8ularly review the long.term alms for the Charfty and a8ree new objectives each year. 20 21 Our strategic aims for welfare are: Incmbe effidei)ty In a¢¢ord 14tr4strAtt5 obJ¢d> . In terms of income, our strategic aims will include: nyt of dMn8th4 ne•d Protprtlng key Incomt stre•ms and MI￿saun8 rlsks10 ftiwro inwm4 Tesuk¥ from the th8nWng tr re8￿la￿ry en¥koMnenL ProtÈdng our reserves and nurturiThs our Investsment￿ to support lon8.term welfare PToyarnffte& OptNiilslTh&lrKome w meet demin05 ftsr welfarp.

Objett￿leS for 2021 Conslder. revlew and recoMrn￿ Opibns to IKrwo wellare dellvery In the context of d4cllnlryq r¢Aul•r benefi¢l•ry numbers IncbJdlns'. Enjure NeYotrAkl yo￿nteerS ¢oThtlnue ir) pl•y4 key rolt ftr thè c￿rtty and ensender a posltlve Jense of comnwnityW￿ ¥￿1￿. Indudln . R￿eW Ne￿￿¢r$ mental héalth R￿S￿l pr￿OU5 grant r¢cnts assess current n•ed, . Rknthe rcl•3 ol the Are Ccrnmirrees •nd create blueplnt (or fuiure Prepare &ulddines lor rec¢mm•nc•mwR of almoner ¥tsllS Devehp NestrAld's fvndr•ksln8 approKh to th•ry5 to th• Industry and re8ul•ttyy •n¥lronnMThe Includln Implement the NthstrAld comi¥iunl¢atlons plan to ¢n8a8e posltbvely wlth sr•keholden, In￿nce •w•rnntSs and Involwemont and support dell¥ery ol Ne¥Y5trAl¢fs stratec obJKtI¥T5 Indudl . Imdernent Iotttry Wlz• fuThJ th•18•k . Te4 prfce Kro•ses . Agree •PPfoath for rtmmmnr of new dc4 and lottery partclwnt . ExploKe oppDrtunlts•s forCorpof•te P•rbwshlP En£aAe posbtfvety wJtth tMntfid¥les. alrr*)nws and Area Committees . lryrove Industry en8agemwbt through advocates. evenuas •llthved channets Explore and devÈlop a central cornn￿nkIIIcnS darab•se . DMIop s•JJal meth'• thlnkln8 W support a)20kn￿Rwt | 15

Committees and Almoners Ron FbJshbrook. Chath)aiN In8r1dJcqs.Mce Chffi4￿ Cooper. Mary Fleld. l)awld rtlll. Martln PA)nveLJean lTrlellL Terry oolnÈd Jan 20h Rothty 5mllh and Sam Wh1th5kle.: t faTmPwee 8r¢ndin Fhtzrnwr￿e, Adrfan Hulhes, Teny M￿field CBE (slnce deceasod), Mlke 1¥4rn x van suaubwtye¢ aalro Blunt (Jolned Sepi 20201 Almoners 6rahwm Perw Rc¢rtcrt Ird 112fwr Gr•hwn DI￿d Hall C•n)lkne H•rd•kwiiJiie5 wendyA￿￿k￿l￿ Feb %ushbrook' Dorothy ou Pdèr Seaman ￿￿10 kgo Da¥ld )hn Q•d5ha JKklè 8ro•Jbf )hn ￿￿field tslnri dEtt•5edl Chr15tQPlief fir{￿ ZOI Browm Mlthad • &J(kmathr RknaNI Gay Cn Frod C•rtylft5Wd DK Xfj Nl(kCwkn8 Chrts Har(fj5(Xl D•l¢l Hendal Hoil lan shv T¥ry Sklps Roddy VAke Chrl#ln¢ SoLthQm Spller Tony Spra￿($1r￿e dèt￿5¢ Jahn str￿8 Dron Tayfor Andre#J¢>hrnton {rtWed D•c 201 If￿1[￿￿ nlon ant KtO8h ￿merS1eY P•ul iathwn rb Lèvrton Oon Thjryson PJUI Trwoi Bnari Trow tre￿¥d)￿Y 2DI Alex 5traubenie MkeW¥llate Mlke W•15h U&ned M¥y20) D￿d Warè Glll Webb Joff wkne D¥Ad Chalmer3 hn Ken Ch•pTha Abert Ltr4el1 Nttde Mallc M•rth M4nU Alan Co(W cowiw 10) TTe•N Col Co¢J CaTMr oil Cwftshlrt5trÈd * 201 Cwole croc¢r pwlme ￿(D￿ Frank m￿Ser￿ R•y Monellt bp IA405s. Mr￿[r￿n.plDY1QQl Saftthlte51dÈ ab8WllettS wlliam5ODied 2 tknlntWIHlamson Grahm WNIV m Wrthtfsknce doc¢•s¢dl Frank Mustwd {r￿d De¢201 t)w8trtyUothed RobortorummoThJ CKJrw Oudd Cdlrb CtyJk¢ Lo15 DunnKrfe IEX Ihjnon trtW¢dJuly 2Q) Rlthd Eaglt l¥lon Ecr IA•ry Fbeld Pwl Forem•n Fowl￿kntd Feb lryl )L F￿ffl Steve Gilfcio (Twed 5epl 201 pwl Cwddall Iresn¢d Stpi I,,? Collttte Gittn fr¢s￿ed S¢pt 20) JeaTr Neml Urbdsay 2Q) John Palmer Il's hearl-w'arming lo know Ihal some peo le siill care uring Ihese Iicerialn times. Tony Pliik DiThen Poll Ilm P￿lea￿% Rante hn R*tr￿ Isln(t dec•x¢dJ Ctalq Reyno￿$ ' 202U Mnnuil Ptpoy

			6 an	eral
		leal ~	unrastrtstad	ttodgna md	des+feted	292evotel	2819Seeraced
			6		6	E
IocoIoa
f7anapens and toffaccss			4.067			142I67	292I21
Crscreafde acttvl tlss			228.247			22rs ?V7	266756
Interne (ram alber Cr~ xeclvless			s,I16J15			'r, t2623SS	1,997362
Investment and airier bitteer			347,42tS				424JSd
						1.256J27	J.'%17Jse
Sefssndkctro
Casts ofrrrslng fantls srid otbpr Hearne			44fs542			446,542	SBIUI39
Cbareatde acsIviles			71,775			21,175	6'l,929
VVSffarr payrva ok			9491654			964,206	963233
Gcse moose sorts			77.467			T7J67	SQIIJ31
Total		6	SJSdJ16	23J73		1.566254	'l.743.992
rfec lncoman~cscret	tsrfsre other
remtftn lead doers aod leases			1713209	113,6721		IS6537	375Jftt
Itralltad erin bn disposal af	irwsscnsents		352			352
17nraalloed dain on rovalitaaan ofmvestments		16	222J54			222.I754	I,leIMBa
SO~C lnaamenexpeodltom)	Ond nat mOVSmant
~o tvmfs Car tha r			192,415	I'13,4721		278,$4%	1.379.S62
fcesanddatlon offcecds
fatal feirefs braiddts tarreted			11,917~7	665,657	arrSSS	12$71,296	l 1,191.734
Ccrom traodfsrs Satereen fttnds		16	I f S6721	13.672
			52,~	6ee.fief	43J63	'12JSLiB9	12.671Jfsts

				2629aetat	29'l9 Resaemd
				6
shed assets Tat29 tbleassets		12. 13		'I2.924 I2,944433	13526
In treatments toast shmd 3bse ae				12,977~	IXRNk&4
Ctsrmea amass !3ebtefs,prepaymesas	sfte atastfed lntome	14	Iel+98 5rKI		145.731 II46't
3sfte 5aeele Loena Cash athank asta es hand Casts at~maas22pts			Zthtt52		4M,676
Terai 6ttareea hUets
uehekles Credltort falllng dw	widen eno yeer	15	I29D,129l	72482	262,999
2aet asfraent assets
				14%4RRI	'!L571.294
tate ftfnda ofane ettert~
ttnrestrktad funds				605697	M5,682
I7astgne ted I6otk Craeerat njnds		'l6	$,859rs95 hesan715		!t692,59fr ~66'I
Ittnd				12~2aat
				49 952	48.552
R8slrktott funds Total ehaalt5r ataado		I~		I?f54~	12.$21,294

	laele	2026Total	2619eaacaml
			2
	34	(ISMSSI	12,SSS
Cash flcnaa from inatetleg ecealdae
eareaenael and hateraaa lncerlle		317328
Pvachate of aangl hie caena~a		(6,236(	(1Z.692)
arNea tmeec addi 1I6Ilt		(372,Ml)	l396,595l
Mch hald In Inreaunenta acmtfnt		22.571	(27A47(
arraetfmenc Olapoaal eroceadt
		Ie,SSSI	II
Ioacreaae(In cash In the year		(192,62el	(786(
Caen at che eeSfnnlng el the year		@Ncaa(76	4(e661
Tetel tean et Ihe ~liat erdce Seer

2, ancoche from Ooaouans end Legacies	2, ancoche from Ooaouans end Legacies	2, ancoche from Ooaouans end Legacies	2, ancoche from Ooaouans end Legacies						Clnr&acf arced	Clnr&acf arced	Clnr&acf arced	Creaignoced	Creaignoced	Oescrtcc&d	2020Tolel
2020											t		E		6
Stana UOhs										4,tÃ7					'IeP&7
Greats												IIV%0
Glhsof~
										4PR7		10POO
sh19									VM»scncced			Designated		Resuscted	2019Tolel
Oanedohs										t &75		6 7~		6	6 Shel
Glhs ln kHd										19Ad0					1ste80
Agrem was received In 2020from Ofnt rakiheraetteata~m	Ihe Gannett~ond was acontnhuden au~nero Cnetnott~									21.759 cawcdc		73»O aha chorlctrs		29P21 cauld vemer comfort yrahL
IOettafdahte Wlra FRSI92end dfe Charhtea 509Ptrtll&23 the							ocanamk coetrlankel			Cdtaneral		selunteela	hrmreaagnhed		IOthe OCCOVnla.
3.Ilmtfne IWull 0 shel' Tsedlrlg Acti»ICI»a							trarestrtcted		Oe sag&oned 6 6			Rescricced t		aaao Tocel 6	fata Restated E
&eendfe rshlp								70						70	10
&fee Co lllhlee luhlg'&ising														1,1WT03	1,2$7JXll
Sveocs fehdftaslng								6,712						6,7'I 2	»0391
								'l. 'I26.986						1,1241OS	1POTP92
All Ihmrhefmmachec lrachngectfreaes			In 2O19relaacdto			onreetrtccedhnldl.
*Iho»en&eat ohd t2eher Income							tsnrescrtcted		Oestgnoced			R»snecced		2029Tekel	201'9 Total
									6		E		6	6	f,
Income fram qua&ed Investmeots								3C7,236						347,236	424,0c&
~~kd ctsla Rnefest								192						l92	625
AR lfn»shneoc and olller Income in		2019 related			Ca unreal	doled		tooth.
5.Inde from Cherltaftle Actlvltfna									Res t	kgne	old 6	Restrta ted t		2929Tetel 6	2019Total
Reca Ifwe Chef lfool& Iscmahoes								22B,247						22R,2»7	2bfk758
AS Income fram dferlcahte octkdhes		In	2019related tounrcalrl					md hmds.
4,Gtnta efRal ~Ing funda encl father			In&sane				ttereacrRted		Oeelgnacee			Restrtcted		2929aeaoa	20te accreted
									6		3		E	6
Arse Col&rafa»e fund roding usus								ea2,502						~42,502	53fket2
Events Iuhdrolslng costs														~PCI	32,1 97
0t her
All macr afralslng funds and ofher		lncome ln 2019reteted tounrastctded							funds
7.Caste Olfheritehla Ctlvtcfes							ther»scrtcted		Oe signa 6		fmd f	Sestrtcted		2920Total 6	2019Ten&I
Gene reh Inmjnl reaaor~								71,725						71,779	e1,929
															Ot829
ARt»scsal cherlcahle acchftes In2019relsted				la	unrescrtcml		funds,

~, losel'Eependlnsro	Costs of 0ertera ung Voloncery Irlcnme 6	Costs of 0ertera ung Voloncery Irlcnme 6	Costs of 0ertera ung Voloncery Irlcnme 6	Costsel Cnartta b I~ rccslv atlas E	save rnecrc e Coma 4	5uptrort Eases 6	20MTeen l
5cals costs fserdra isargt costs			16P77 2reer526	Ityr569 4,040 757,013		22IL660 tIerttae	364r706 2745566 915r062
43drar costs						9,736	8,736
Deproc iadon			I59P99 4EKRR	458r495 1.04er125	35,446 Jyr467	(55rL444I	1~050
			Cocle of	Costs of
2819aastac ed		pe Voluntary	amactnft Income 6	Chartceale Actlvlrdes 6	Governance Costs		2N6 ftctated E
5taff costs Sundratslhg costs aahe costs			te,en 4 339,667 19P60	'I11P23 3Z.I57 752.423	615374	162,650 %571	35er030 3742}64 l21022167 9,571
044nectadon 5u costs			182,965	Vsvrrddg	40457 166.654	1404,587l	1.743,332
Enll129t9:6194601craner cons olgenera prrft vnlurrtary		Income	rrrtatec to Elite In hind,
9.Ane itoss ofpove manse eod crrptrort Costs rpeaarrranaa Cacao~						sp20 Terai 6 14.1al	pate Total 6 16,214
Legal and profetshnurl	lees					23,%5	32,932
nudrt 4nd at Crarnu anC3r						1,957	16,924
Mectlrlf coals						25e0	2.504
Annual report and anstunts						35P46	445457
Support costs

		Cease Of	Costa el
	SenereClrrra		Ctrwl table	raerrorna ace
	Vole ntary	Income 4544	Actietties	Costs 1644	2926 Total
		E	f		E
guppOrt costs ere eancated m ciserlteale atfcttsee ashlhnuC. ttatr ccats 5aaN training andretrulunen5 5enlnr nsarregsre~ rulllce overheads Conrp utr!rs Lease char f,e Sdvrntitt ng and prom neon		lue, 'r65 24L591 epza 1P73 2,916 5r954	104,'l$3 yr456 152 29,591 6424 tp73 2.9l 5 3,954	23,145 1,657 6.354 327 $79	231,451 'I6,Mrg Mg 6f536 Icr276 3,273 fs416 IE767
wstrap e Iaeprnttett nn		4,361	cr381 159Pdfr	976 22Ldeg	9,736 354P44

12.Investm air ts Ice»aBra	eel
ac 31Stetember 2625									Ttrtrcaeer		ILCrtet lttr Year'	6essrcres
(dd Ben Latterres I-Imilad I~camtsany			line(ed by	guarantee	number 629330141						(I 394I	(4.396I
Ohl fen Names sam lted l~	carrrtse	irtr BmIsed 97gcseranme numaer 66J6926'I I
The taartbf dc»s nta two the ehllky te			rr seat Iacaser m ar Insuree			e dlL acchtkl ts et		etc6 carr fran»s		LIrretcd,	4INelqp Jlr s4lvetes are rhif»d.
The Charibf 6reette te recetue no dlrett			ber»SC fram	IJScent»rttan		csrch IJrd den Hareee			Lrme CCI4rrd	attat»te	ler RSereren Jn	CSSSare strnrrs
Utn6ed atcent Itaak
14.Stebdrrs											2924Tata l	2615fesratscl
												f
Other deb tars											28,896	22,884
atrssunt due fmm ctrl drn	tecrtrlts tcd										2,796	2,742
PIS											119258	12',165
												146,7N
~rcmdt fteele Lares												11,ear
The iNI(J(cthe fteccr Lsr»ss srda ace Includes a Prarlscan far trad debts er Efs060
cf, Credit»re (tue Wtthtn	tyne Year										2626Terat	2619easra Isd
											f	6
Trade credltafs											11329	g(02
Other credisafs											'I93r29l	158,6(yl
PA% Sad Presser»											I1373	l0,JJaa
acxrusls											74226	96241
'l6 Jmesstrnaats dafrrs rends											2626Tc»el	29'19Tera(
											6	6
Ja I Iaewafy												2230,777
Gain ar ar												1,0032sfe
as31Ssetendtei'
17.Arralssts atnet assets	hetseeen		hands								ltestf(cM
2626 lunar balances ac31JJecensber		2CI26are~br@,				rJrrte 1trlcsed 5					I Steels f	Terat
Tan6dtte Rrrd assets								I2924				12,974
Invercmrncs						c	2256.746					I2JS64433
Current. assets Lredltery, amuunts tadacs	due rdlhln		anc year			'I	32((659 (296,129I r296r266			665A67	4IL552	36%P'l l 096,129I 1~
UnrraHsed gains ilcctudrd	abtrrct
an hie fh»d assets							3/56,		71$			3ASL)I 6
							5.~66.716					Sregfs7(S
deccrsclissthm er marements ln unreallsed gated IJarcafsed gains at I January 2020 ~la che 7 ter							XHd,(dc 272,064					3,23eda) 2222me
tfareeeeed Sneat Ill Stesemher 2(tae							3~715					fradfS716

17.Arralssls al'eat allele	17.Arralssls al'eat allele	bettraaa	bettraaa	Isreds ICentlntredl	Isreds ICentlntredl	Isreds ICentlntredl				eestrlcted	als9 dsssatsd
										J Eseete	Tesnl
									C	E	6
2819Resmtad
Esrads balances at	31 December 2019Sre represented					by.
Tsn9lbk llrrd assets								13526			'l6,626
muss( ments								11,689,103	605,667		12294,790
Cfrrrarn assets								Ef75II6			365,868
Crrfdnta alnauntsfalll		duewrdrln		ann	r			J302,888I			WAS%
								11.917267
Uoreasscd gains Indodad		abave:
On Irk assd assets
Rvtantlluuan el rnavernents			In urvralllsd		galnst
ttnrealrsrrl galas ra I January			2019								223O.TTT
Rsva Iusdan In the
Unrealsad	asas aeoembar20I9
18, straaTSI ls oI Charitable		Itreds
					eraudtrt		Insarnnt6	4otgol 49,	vnlaadsod
					Fartva rd		8esoulsas	Rssarasas	dain	trenAla	2020
2020						E		E	E	E	E
Restrkted btrrds jane Steak					aet332						W 362
~Eundo
ACE								1225i)2l		23672
tlrsfns								ItUI00		I10W01
tega ~arne					~as~			19,6721		'IW2	e46IP 686gi87
General hmdt prier' sear sdJushnent
General tussk					I1.917337		1.It+622	(1536rsl81	22ZA06	Il3572I	'1Z2961200
					11,9172%1'		LTUEtdRT	II5M1418J	222rs86	II3.672I
					M.571~		I.T86587	IsrBRNR
2019aessarad Ilsstrkted funds Jane 6tsole total~sands
hnsgasted funds
ACR							7566	(2821)el		21508
Iagas7 blmsrle					606,687						60MIII
Taeal daslgaamd	tustds									EICOS	686/87
					1053758$		8,129AI64	II,TM518J	I,ediL88a	12fr606l	11.917.237
					II.191.734		2.187878	II,761592J	LOGAN		12.6TI.Isal

Ccrnutlxntons we chargmt coche 5tacemcoc of Ftnsncld Adnnu at rhe balance sheer dale. corn	Ccrnutlxntons we chargmt coche 5tacemcoc of Ftnsncld Adnnu at rhe balance sheer dale. corn	es as Incurred a	od Cbme	warn nog orO~ co	otnbutloos
Fenslonmacs In tne yearwereE7, 716I2919fld,atg)
2ll.FIncsKlaI Iress Nrrllents
Financial assets nwasured al lair value Ibrougtr Orofil or bras				I2364a33	I22tsETso
Flnanclat assets nreasured al srnorused rotc Flnancus Babgdes~sl anronuad cost assets~m can verve ctvcnafr orant oruns acsett mentor Cd at~COSC COmprlreS tater Currern aSSWS amuched orate~ creatrors clue threw chan onc Sear hw		srrscs craned arveu manu leSSOrCyaymerru and fans acouab Iocte tSt.		237,7a2 334,302 Ct5,9ct3I IysuViayt held m rt 31 Cccnmarcr 7020bosn c de Ftnaochl Fteele lacactoot ~ rCL Sercnt tcr Uatmchs at
ZI.Ctpcraung Leese &ammlunencs				land and buildings
The Cyrarlrtrs future mlnlrmnn lease paymcras we as lobaws-				232SJacal	2II lb Tosal
Operanng leases whale aspire:				3	E
Within one year				2533ts	23,57I
Baosom one and Bveyaws				73,737
				0ctree
				2dtB Total	20tBTocal
					3
Within one year					3223
ttehsuen One and SIVeyeare				c,a15

Inthe prier Tsar, cash heat ln the Imresnns nthnvt was shown as cash v bank and In hand, nrftfe Inveslmancc Agora.	this has npw bean ractascrg ed	ta form part
	M?9Tacst	2019Itcsts red
b)net nnnael eat la funds te nec cash llaw fcewt atfaratbkg actlvtllas Ctec rrvavemers In funds Add backd~ charge add back prone on~Oflnvesnnents Less tmre eased gael aa IIwestm ems Interest Income caenvr ln five55fg acevhles Ere«tease In dstecvs IDe«revs eyl ocr vase In«red!ters Vaceasb pavtttact by~acttvtttas	6 37B,949 9,726 OR) fga7r4240 2,232 tck7603 Itgggfg22	1,979,962 9.57I pk4033Rtc I I424669I 26,022 24,678

Prps,. atlfrtu Dlr•cr?v. Tom Rodgev ri•nd•l C•ntralltr. Laura Gflce ¥ke Offlttr & Lf, to he C#0: Lkndw PAIt re Man•8tt. Skne&J H￿Id uty Wdlafe Kaue Youry . vl•ir￿e 011.,, .: gela kandal Wthrn Athtsnt" Frankle Gabbanl Thank vou so much for Ihe M7inter Lomforl Granl 'fiiings have gol lou h during Il)ese di Icull limes, riiiaiiciallv and mentally• and it Jus( lakes a gesture like Ihis 10 restore our faiih in hunian kindne55. Markay upert Murdoch K Dord •lTr Li.Kier3' helrn: NellJa88er<Pub C(4in Aetther (Ret41) 0￿d Hollday (Pthlsh Adrlan Hu8hes IDistrMthI) Ingr￿ Jones IDk5ftibwion Shèunjones Traty 05Ulh￿ (Distrlbuilon Ralph Patel (Rerall} Ruthbrook IRetsll) Rlthard Webb (Wtdesale) Thank vou so much. Jiisl knoii'ing PLY)i)le are Ihinkiiig al)oul .folk less furlunale makes a huge difference.,, Vou have been so Monderful lo us tliis year Id I can'i tliank you enough.