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|||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,|





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||**FOR THE YEAR−ENDED 31 AU**|**GU**|**ST2019**||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||,−.•|• ..•|
||•40tes:.<br>INCOME||**„**ypargnod<br>**Capital**<br>!:Fun,d.<br>(general)<br>_'t_|August **2020**<br>**Income**<br>**Fund.**<br>**natiO)**|||**Total**<br>_•_E|_Ended 31_<br>_MnresInc...te,c_<br>_._<br>_Yeer'En0e .j1 August 2019_<br>**_Capital Fund_**<br>_'Income_<br>**..**<br>_Pone_<br>_toi ei_<br>_(gener,a1),_<br>_(designated)_<br>•<br>•_;E_|||
||**In**vestm**e**nt<br>v000 nt.iiiimiti||||||||||
||.<br>.0r.044'!:600).efrcir.t.)−.0i:<br>fitted Investments<br>B.06ki.O.t00'st.||23;101<br>24|,|||21,147<br>24|.25146<br>14||25 146<br>.1*|
||−tot001'..0−10.||||||||||
|•|Exott4orioikg<br>F3A10.106 fOhdO,<br>Invettmentmanagemenifees||..<br>23131<br>19;621|.|||21431<br>9.,821|2516Q<br>'9,851||;•4460<br>9851|
||.,||||||||||
||:ptikilatife.a.44.1.1100.:!<br>.<br>...<br>.<br>**Improvementorsociarwelfare:**||||||||||
||**−040**condihons Of litOffi.iY04.0:<br>**peppla WI.P:**pr,e residentin;te:.<br>.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:<br>assetS::||||||||||
||Realised.,.,....<br>,<br>Unrealised|**4**.|(4957)<br>0,.*y|||(34957. ).<br>(P. 2,9,0):<br>(6.i3$3.).<br>31,573||||(0,290)<br>.31,573|
||||||||||,||
||Ifaii0.0i :Ot QraiWto Ociriiriiitte0.:|t.|(24, ()dot|24.000"||||24,600)|_.24000_||
||**.**<br>**N**<br>**E1.Iyip.V..gm.0.1−1,0**FpNop:||**c**<br>455254|4Z605)|**0**|k57 858)||**:**<br>14 _2_|(3,025)|11267'|
||Fundtialances A.1:**September**<br>**2919**||1,285;407:|.5.247|1290.654.|||1 271**111.5**<br>6272||1279187•.:.|
||**FiThilYBAILAkdE$:AT',3f**||||||||||
||AUPUST.2020||121). AF4<br>.3|2642|1132 796|||1 285 407:|51247|1250.654::|





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||'Notes|31; ,Auguist:2020|3 _August26.19_|3 _August26.19_|
|---|---|---|---|---|
|||£|_.E_|_.r•_|
|FIXED ASSETS<br>InVestetients,|4|1,157;241||1 206−,505,|
|CURRENT ASSETS|||||
|Cash an<br>bank|5.|1.00141,|39,6−05•||
|CREDITORS: arpoUnts tailing.due|||||
|within ,one year<br>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|





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





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||**.Reconciliation ;**<br>**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|





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||•202,0.|_2919_|
|---|---|---|
|:rants awarded<br>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;|



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|dt|tr.**t..0)0.0t.0|202(:).,||:01.9|||
|---|---|---|---|---|---|---|
||_<br>Baiance.,atl September 201.9!|1,,266,,$0|‘4,,20*−66||||
||:Additions:in year.<br>piSp401$|'691;996<br>:(794,899),|4414<br>(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<br>corporate Stock:, UK<br>eqUities<br>Investments and unit trusts •−; overseas|61P00.<br>1.<br>,s1g.50<br>:<br>501'474|,|55.3#75. <br>563118;|•<br> •||
|||*1 021.141|−1,266;505||||
||Mathrialinveitmerits.4thin*the portfolibsconsist, of||||||
|||.)220<br>: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 ,<br>.[.Findlay Park FUNS plc American<br>rBailey.:Fund SVaiLtd Eveniode,.C.|53,102<br>405;4.66<br>1.27.3.19||61 985<br>4312.;54,0.<br>434, ti−Ei|||
||Trojan Ethical Income:5:||||||





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|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.|
||||||||||. . .||



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





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||||||'Book||Market||
|---|---|---|---|---|---|---|---|---|
||||||:cost||Atal:u.e.||
||||||£1||£:||
|UNITED KINGDOM —dittS<br>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<br>1.310 iShares ti.pie. tii0j4;otts:e.ett.|||||•34,496i.<br>.10•;934...||1.60,987<br>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<br>.<br>490 CG Portfolio Fund.'otoA4ofotoi Ootottiq#.$0.M.<br>5.1,/'.0G Potti.49 Fttn0.0.P:ii0:114r .0!).c1;<br>31 400I Bailey Fund 8VS:Ltif.:6:eniode;C•||.|||,<br>26;816−<br>57008:<br>34,445 <br>5007||.2.5;820Y.<br>!'63,102'..<br> 37,116.<br>68,268::<br>.||
|2,300 RIT.':capitai Fiertriett<br>.<br>12,285 LiOntruet<br>12,560. City of London Investment Trust<br>.<br>.<br>**.**<br>..<br>77,000 Trojan Ethical tneorneS,Im<br>41,000 Trojan Ethical Sinc(multi,assettitnd)<br>.320 Vanger0:Jny,t,erie$,US:Qoitt.i.kaoh4<br>1,0,06 Xtrackers ETC Physical Gold|||.|.|!48;3011 •<br>41,814<br>44;64<br>14,71q−<br>0.−,0.94−40;.412: <br>87;174<br>.<br>:90,152:<br>.44;178.<br>48,448..<br>.34,763<br>15,962...<br>24,,91,0;<br>2473:0|||•<br>.|





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



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