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2020-08-31-accounts

		Page	Page
Legal andAdrninIsttative Inforrnatioru
Trt,taae.RePOrt
fhdependentApclitp&	report	0−0
ptgettloot of Financial	Activities		9
Balance Sheet
oskfl.Occi$t..40Metg		11	—12
Note's:to:the. Financial	Statements
Pi6toicjwirlg,pogo$	horfpop pattgrt.tie:stapidiyaCCOutit$;:
Schedule of Investments		17	18,

	FOR THE YEAR−ENDED 31 AU	GU	ST2019
									,−.•	• ..•
	•40tes:. INCOME		„ypargnod Capital !:Fun,d. (general) 't	August 2020 Income Fund. natiO)			Total _•_E	Ended 31 MnresInc...te,c . Yeer'En0e .j1 August 2019 *Capital Fund* 'Income .. Pone toi ei (gener,a1), (designated) • •;E
	Investment v000 nt.iiiimiti
	. .0r.044'!:600).efrcir.t.)−.0i: fitted Investments B.06ki.O.t00'st.		23;101 24	,			21,147 24	.25146 14		25 146 .1*
	−tot001'..0−10.
•	Exott4orioikg F3A10.106 fOhdO, Invettmentmanagemenifees		.. 23131 19;621	.			21431 9.,821	2516Q '9,851		;•4460 9851
	.,
	:ptikilatife.a.44.1.1100.:! . ... . Improvementorsociarwelfare:
	−040condihons Of litOffi.iY04.0: peppla WI.P:pr,e residentin;te:. .Opro.p0 i0,440.!.		.4 4'43	;266051			3t858	.2.300	'.27•025	:29325
	TO,41.,p4:e.e.t.ditiirSi..		.153264	.76;605.			4t669.12.151		27:4015	jA.9,174
	NOt.e5FPen0410.		(2.6,6Q5).			(18:58)		13.QP9	(27.Q25)!	,(14010Y:
	;04.10s/0040s),on inveStinent: assetS::
	Realised.,.,.... , Unrealised	4.	(4957) 0,.*y			(34957. ). (P. 2,9,0): (6.i3$3.). 31,573				(0,290) .31,573
									,
	Ifaii0.0i :Ot QraiWto Ociriiriiitte0.:	t.	(24, ()dot	24.000"				24,600)	.24000
	. N E1.Iyip.V..gm.0.1−1,0FpNop:		c 455254	4Z605)	0	k57 858)		: 14 2	(3,025)	11267'
	Fundtialances A.1:September 2919		1,285;407:	.5.247	1290.654.			1 271111.5 6272		1279187•.:.
	FiThilYBAILAkdE$:AT',3f
	AUPUST.2020		121). AF4 .3	2642	1132 796			1 285 407:	51247	1250.654::

	'Notes	31; ,Auguist:2020	3 August26.19	3 August26.19
		£	.E	.r•
FIXED ASSETS InVestetients,	4	1,157;241		1 206−,505,
CURRENT ASSETS
Cash an bank	5.	1.00141,	39,6−05•
CREDITORS: arpoUnts tailing.due
within ,one year Accruals:		f30586)−'
NET CURRENT ASSETS		.75 655
TOTAL NET ASSETS		f:23Z396
FUNDS'
Income 4.00		2,042	5,247
Capital fund_		1,230:154	1,285,407
TOTALPlAbt		232746		1 290 654

		2020	2020	goo.	goo.
NET CASH OUTFLOW, FROM itiOtkAtior48'
Net 6 a h .iite4: bypOratingictiiiiiie			(26;539y		(26;350
CASHk_04.1.4.POOM.*E−OTIOp: Xcliverits:
Invesiinenfincornefeceipts		23,131		2−5,160
Payment for irWOlter0 PrOOPti“'tOtti 01.010tihYOOrhgtA		(691,998). 761 942		(403;740 365,791
NETCASftPROVJDEDBY :IWEst.thCAcTIVITIES			93X5		112,707i
CHANGE INCASH AND CASH EQUIVALENTS IN THE YEAR::			66:6*		02,1:44
CASH. AND CASH EQUIVALENTS
AT 4TAF.K.f THE YEAR			39.605		78',75g
CASH ANCi.−CASH EQUIVALENTS AT ENQ OF THE YEAR	:2		.06,441:		39:605:

	.Reconciliation ; net income to net cash outflow	from	from	operating	activities
	„.	.	.	,
					2020	2019
	Net Incoming resources				(16,538)	(14010
	iop−ppera ting'osntoWs,plithilfated:
	Investment income.				(21.11)	(2&r,1,60),
	Increase in creditors				.15.130t	212,626
	Not oah..0titfloyti from 'operatin4.aCtivities				',(26,539)..	(26;3501
2.	Analy,SIS 0,f cash:,40d Cash equivalents
						2019;
	Cash−at bank				46041:	..3§!6ti5

	•202,0.	2919
:rants awarded 160;00A	17,.−925,	4.0,50%
10.$titkiti:00$	−i£36.80	:1:0.426.
	20%66	2.1,t25
:Ooyernehce ccial	.5243	2 30G
Idtel	.1.;844	.,.2−9:35;

dt	tr.**t..0)0.0t.0	202(:).,		:01.9
	_ Baiance.,atl September 201.9!	1,,266,,$0	‘4,,20*−66
	:Additions:in year. piSp401$	'691;996 :(794,899),	4414 (372,082):
	ROONOti0ti'.90i.4	(6.364		31 573
	Balance:4f −f.AugOst 2020.	1157,24f	.t.	66•66−6'.
	: Historic cost	1 021.141	l's	082100
		2020		1014
				t	.	•
	GovernmentGovernmentr corporate Stock:, UK eqUities Investments and unit trusts •−; overseas	61P00. 1. ,s1g.50 : 501'474	,	55.3#75. 563118;	• •
		*1 021.141	−1,266;505
	Mathrialinveitmerits.4thin*the portfolibsconsist, of
		.)220 :sk		,:201.9,
	,eG,p:o.ilfOlf0 R I M RIFtettirrifun!.:1S−C−1.S: _!A!_BriS GBP'	00:957		62,66.0
	''qP:',Poilf0.1i0...Fprittplq,N401,040,Re.tuth::ClaSSM , .[.Findlay Park FUNS plc American rBailey.:Fund SVaiLtd Eveniode,.C.	53,102 405;4.66 1.27.3.19		61 985 4312.;54,0. 434, ti−Ei
	Trojan Ethical Income:5:

Cash andI3ank									−2020!	2019.
Clieritmoney investment deposit									1:'495151	:7,731
bividend accoun	tc								.17	1.8,324
Cheque deposit										13,550'
pdri.otidtwr.oervg		account							25•;525
Current account::250
									li3&;141:	'39.606:
Unrestricted:Fol−fd*
. ., . „.._.	..
	Balance			at	1:11C.Citniiiti.	:ReSdifiCeS.		Investment	Transfer	Balance at
1	Agotottiokr				ii,10004•4..	0 0 0	4 0 1	−9045.	:16:epiiie'eq.	31 August
		•	,201.:.			.,			4.10...4	'2020:
				t	r		, t	£	£	•£
						ukppl).		.(39,120)'	(24,900)	'1,230,164
.lototoo. fv00:		.......5247, .						..........	r24,000	2,642.
Tatar								(39 320)		1 −,282:196.
									. . .

	lInveStnientS	Net '..Current	Fund 'Balances
		APOtV.
		(Liabilities)
Charity Unrestricted Funds
Income Funds Capital Funds	1,157,241	2;642 72.913	2,642 1,230,154
Total Unrestricted Funds	1151.241	75.555	1 232.796

					'Book		Market
					:cost		Atal:u.e.
					£1		£:
UNITED KINGDOM —dittS 4400 United:Kingdon Govt.2.5%202*					14;122		15;926:
2;065 United KingdOn'Govt.4.25%:2027'					,5.,320		4,113
290 CG p o t o t o F0(0,13001 Rototil 1.310 iShares ti.pie. tii0j4;otts:e.ett.					•34,496i. .10•;934...		1.60,987 1:9.i080
								•
UNITED klisiGDbitin ,,EdUrt.l$:
34,844.MajedieAssetiManebement:It.K Incomo'Xinc;NAV.					$1,416,		41,377'
2 1 , 0 a CtipritieF),topPropOdy,Fori0 . 490 CG Portfolio Fund.'otoA4ofotoi Ootottiq#.$0.M. 5.1,/'.0G Potti.49 Fttn0.0.P:ii0:114r .0!).c1; 31 400I Bailey Fund 8VS:Ltif.:6:eniode;C•		.			, 26;816− 57008: 34,445 5007		.2.5;820Y. !'63,102'.. 37,116. 68,268:: .
2,300 RIT.':capitai Fiertriett . 12,285 LiOntruet 12,560. City of London Investment Trust . . . .. 77,000 Trojan Ethical tneorneS,Im 41,000 Trojan Ethical Sinc(multi,assettitnd) .320 Vanger0:Jny,t,erie$,US:Qoitt.i.kaoh4 1,0,06 Xtrackers ETC Physical Gold			.	.	!48;3011 • 41,814 44;64 14,71q− 0.−,0.94−40;.412: 87;174 . :90,152: .44;178. 48,448.. .34,763 15,962... 24,,91,0; 2473:0			• .

	.Book *Cost	tyt4ocot NiAl.tto.
		"E:
. ysiN, .A.s. ..)tidlOst"Oiek−kfhdt '.L.L.,Aqieri.00−0"Visit , ..... . .. ,. . ..... .. . . . „.,.. 685 Findlay.,Park Funds PLC.Arnerippn ...QBP ,150 Edgpwooci−,L Select US Growth 11	I3j8.75'. 40;811 ...8,181	$3.A.91 0.:A97 44−414
14,.9.6.0,.4RMOit'aii.M.s.614V1g•mt UK Ltd U.S Equity. Iridoitid. C '16d.	:35,950:	4;285
FAR. EAST
:4.250 Flist State,.1.6.tments.'(1.1K) Stewart Inv Asia PA Lclis	19,165.	15017.4.
2,900..fir4t8t0....Inii$Ie,06.ntt.....(1K)−)A−i.do g•tioq...:pi.o§:t4.0: .'6.iAqq:).R.19.1.proori,A$.w.,..moiloger.0.0t pKt,t4,400.0:4	.1.4;643.!..37;:111. 21:;opp: g'.;71fitt−
.REST:OF THE WORLD
.470.0Y...0•00jooffoecr−p.dtio! Equity Inc;	48,808	:4g.';428
..12,.:300..„p0i.o.:g.ifforopoitio oriotfg. .7−,000 .Forostyqtr.1, sutoit,op!e Equity . [2,675 Morgan Stanley .Inv Mn.gi ,Global : brands. equity .4.0,700.:•Tigile.y F,i,nj.d sys−,E,00liode c , .blow •	.3.2,2* 10−‘95, ',,30,...0.6.:8 4'.00. 18;584:: ..d'OO .60.7.2] 58,114