ERSKINE MUTON TRUST FUND
REPORT AND FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED S APRIL 2022
Charity Number 1130199

ERSKINE MUTON TRUST FUND
CONTENTS PAGE
Pages
Referen￿ and Administration Details
Report of the Trustee
Independent Examiner's Report
Receipts and Payments Account
S131ement of Assets and Liabilities
Appendix 1

ERSKINE MUTON TRUST FUND
REFERENCE AND ADMINISTRATION DEfAILS
Corporate Trustee
HSBC Trust Company (UK) Limited
Current Directors of Corporate Trustee
J Coyle
P M Spencer
J Hewilson
Trust Manager
A Mellish
Prlncipal Office
Forum 1
The Forum Parkway
Whiteley
Fareham
Hampshire
P015 7PA
Independent Examlner
Frances Millai ACA
RSM UK Tax and Accounting Limited
Highfield Court
Tollgate
Chandlers Ford
Eastleigh
Hampshire
S053 3TY
Bankers
HSBC Bank plc
Forum 1
The Forum Parkway
Whiteley
Fareham
Hampshire
P015 7PA
Investment Managers
HSBC UK Bank plc
1 Centenary Square
Birmingham
B1 1HQ

ERSKINE MUTON TRUST FUND
REPORT OF THE TRUSTEE
FOR THE YEAR ENDED 5 APRIL 2022
The Trustee presents this report together with the financial statements of the charity for the year ended
5 April 2022, which have been prepared on a receipts and payments basis. The financial statements have
been prepared in accordance with the charty's constitution and applicable law.
The purchase and sale of investments results from the day to day management of the investment portfolio
by the Investment Manager. In accordance with the Charities Act, the financial statements have bee
prepaied on the receipts and payments basis given that the definition of gross income excludes the receipl
of any endowment, loans and proceed5 from the sale of inve51menls or fixed assets.
Reference and administratlon
The Erskine Muton Trust Fund is an unincorporated trust and is consliluled under the terms of the trust
deed dated 27 May 2009. The trust is a registered charity Ino.11301991.
The Corporate Trustee ha5 appointed a designaled trust managei to look after the affairs of the charity.
The Investment Manager reviews the performance and provides recommendations on the structure of the
investment portfolio.
The power to appoint additional Trustees is vested in the current Trustee and is exercisable in writing.
Should new Trustees be appointed, the existing Trustee would take responsibility for their induction.
The Trustee has examined the major strategic, business and operational risks which the charity faces,
and confirms that Systems have been established to enable regular reports lo be prOdU￿d so that the
necessary steps can be taken lo lessen these risks. The main risk in the year was considered to be the
variability of investment relufns.
Objectives and activities
The objectives ol the charty is to further the religious and other charitable work of the Church of England,
as carried out in any church or churches in Dorset lexcluding Sl. Peter's Church, Eypel, bul with discretion
to distribute in other areas. This is pursued through the awarding of grants, in accordance with the terms
of the governing document.
Achlevements and performance
During the year 37 grants lolalling £253,000 12021". 17 grants lolalling £233,000) were awarded to
charitable inslilutions. No grants were awarded to individuals in either year. Details of these grants are set
out in Appendix I to the financial statements.
Where grant payments are not banked by the beneficiary they are credited against grants paid in the
period that the grant becomes stale.
Financial revlew
The fund generated income of £177,15712021." £212,283) in the year. which facililaled the expenditure on
charitable activities of £377,243 12021.. £290,161) of which £253,000 12021. £233.0001 wa5 direct
charitable expenditure in the fotm of grants to charitable institutions. The benef1ciaries are disclosed in
Appendix 1 of the financial statements.
Investment policy
In accordance wth the govefning document, the Trustee has the power lo invest in such stocks. shares,
investments and property as it sees fit. The Trustee engaged HSBC UK Bank plc a5 Investment Manager.
The policy is to adopt 8 low to medium risk investment strategy lo protect, in absolute terms, the capital
value of the fund whilst producing a 5U5t3inable and growing level of income, and also providing the
potential for longef term growth of capital in ieal terms.

ERSKINE MUTON TRUST FUND
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED S APRIL 2022
Reserves policy
The unrestricted funds, which are the free rese￿e$ of the charity, and which are represented by the income
arising are paid over to beneficiaries thioughout the year. The balance of unrestricted funds held at
5 April 2022 is £68,99912021-. £121,442). It is not the policy of the charty to maintain Specific reseThes
and the Trustee is reviewing Potential beneficiaries to whom these funds may be distributed in the next
financial year.
The expendable endowment fund5 represent those assets which are held permanently by the charity,
principally investments. Income arising on the endowment fund can be used in accordance with the
objectives ol the charity and is included as unrestricted income. Any capital gains or losses arising on the
investments form part of the fund. The Trustee has the power to convert this fund into income.
Public beneflt
We have referred to the guidance corstsined in the Charity Commission's general guidance on public
benefit when reviewing our aims and objectives and in planning future activities. In particular, the Trustee
considers how planned activities will contribute to the aims and objectives they have set.
Plans for the future
The Trustee intends to continue providing grant5 in a similar way to the recent past whilst retaining
flexibility as to the timing and scale of grant making.
Related parties
The Corporate Trustee and the Investsnent Manager are both wholly owned subsidiaries of HSBC
Holdings plc.
In addition to the fees shown on page 6, as a result of the acquisition and disposal of investments. the
charity pays transaction charges to HSBC Bank plc. The charges are calculated on a sliding scale al 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 slandard accounting practi￿.

ERSKINE MUTON TRUST FUND
REPORT OF THE TRUSTEE cont.
FOR THE YEAR ENDED 5 APRIL 2022
statement of Trustee's responsibilities In relatlon to the financial statements
The law applicable lo charrties in England and Wales requires the Trustee to prepare financial statements
for each financial year which give a true and fair view of the char'ty's firsancial activities during the year
and of il's financial position at the end of the year. In preparing financial statements giving a true and fair
view. the Trustee should follow best practice and..
select suitable accounting policies and then apply them consistently..
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards and slalements of recommended practice
have been followed, subject to any departures disclosed and explained in the financial
statements-, and
prepare the financial statements on the going concern basis unless il is inappropriate lo
presume that the chaTrty will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuTacy
the financial position of the charity. This enables them to ascertain the financial position of the charity
and enables them to ensure the financial slalements comply with the Charities Act 2011. the Charity
(Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The Trustee is responsible foi safeguarding the assets of the charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustee and signed on its behalf by..
HSBC Trust Company IUKI Limited
Dale.

ERSKINE MUTON TRUST FUND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEE OF ERSKINE MUTON TRUST FUND
I report to the Trustee on my examination of the financial statements of Erskine Mulon Trust Fund lor the
year ended 5 April 2022, which are set out on pages 6 to 7.
Responsibilities and basis of report
As the Trustee of the charity you are responsible for the prepaialion of Ihe financial statements in
accordance with the requirements of the Charities Act 2011 ('Ihe 2011 Act,).
I report in respect of my examination of the charity's financial statements carried out under sectson 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 that would be required in an audit
and consequentty does nol cover all the matters that an auditor considers in giving their opinion on the
financial stalements. The planning and conduct of an audtt goes beyond the limited assurance 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 speeific matters set out in the
independent examinerfs statement.
Independent Examiner's $latement
I have completed my examination. I confim that no material matters have come to my attention in
connection with the examination giving me reasonable cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of
the 2011 Act.. or
2. the financial statements do not accord with those records.. or
3. the financial statements do not comply with the applicable requirements concerning the
fomi and content of finar7cial statements set out in the Charrties {Accounls 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 concerns and have come across no othef 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 ￿ reached.
Frances Millar ACA
Chartered Accounlant
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
Eastleigh
Hampshire
S053 3TY
Date..
27-Jan-2023

ERSKINE MUTON TRUST FUND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED S APRIL 2022
Unrèstrictgd
funds
EndovM￿nt
funds
Total
2022
Total
2021
Re¢elpts
hvesl[n￿I inccme
1TX,157
177.157
2t2,283
177.157
177.157
212.283
Investn*nt sale proceeds
Prweeds from the Sa￿ of investmen15
7.647,111
7,647,111
6,129.486
Total receipts
177.157
7,647,111
7,824,268
6,341.769
Payn*nts
Cost of generating funds
Investment charge
49,675
49,675
2,600
Charltable activities
Grants paid
other antscated costs
253.000
124.243
253,000
124,243
233,(KJO
57,161
Governance co$ts
Independent examiner's lee
3,072
3.072
2.982
380,315
49,675
429,990
295.743
InvestThnt purchases
Payments for purchases ofinveslmenls
7.304,033
7,304.033
6,275,230
Total pay￿nts
380.315
7,353,708
7.734,023
6.570.973
Nel re¢￿pts/lpayrnen1s>
1203.1581
293,403
90,245
1229.2041
Transfers be￿een fund5
150,715
1150,7151
Cash invested al S April 2021
121,442
97,436
218,878
448,082
Cash Invest￿ al 5 ￿ri1 2022
68,999
240.124
309,123
218,878
These unaudited financial statements have been subjected to independent examination. See report on
page 5.

ERSKINE MUTON TRUST FUND
STATEMENT OF ASSETS AND UABILITIES
AS AT 5 APRIL 2022
Vnrestricted
funds
End0%￿lEnt
funds
Total
2022
Total
2021
InVeSt￿Ents
UK equities
UK fixed interest securities
Overseas fixed interest securitEs
Overseas equities and unit trusts
ternative irsvestmenls
Other trust assets
Cash
348,168
1,745.160
3,217,145
2,842,729
147,389
348,168
1,745.160
3,217,145
2,842,729
147,389
853.472
3.117,918
4.363,712
68,680
68,999
240.124
309.123
218,878
Totsl assets
68,999
8.540,716
8,609,715
8,622,661
Liabilities
Professional fees payable
3,235
3,235
3,080
Approved by the Truslee and authorised for issue on
and signed on its behalf by..
HSBC Trust Company IUKI Limrted
These unaudited financial statements have been subjected to independent examination. See report on
page 5.

ERSKINE MUTON TRUST FUND
APPENDIX 1
BREAKDOWN OF CHARITABLE GRANTS
Number of
Grants
Amount
Institutions
Assumption of the Virgin
Batcombe PCC
BlarKlford PCC
Charmouth St Andrew
Cheselbourne PCC
Emmanuel
Evershot
Gussage St Michael PCC
Longblrton PCC
PCC Compton va￿￿e
PCC Puddlelown Fabric
PCC of Stic￿and
Sl Aklhelm Church
Sl Aklhelm, Worth Matravers
Sl Barthobmew, Shapwck
St Cuthbert, Oborne
St Georges PCC Lar¥Jton
St Giks, Wimbome
St James Church Mikon Abbas
St James Poo
St John's Church Broadstone
St John's PCC Wimborr
St John The Baptist PCC
St Mary, Fifehead Magda￿n
Sl Marys PCC
Sl Nicholas, Worth Malravers
Sl PauLs ChLrch Weymouth
Sl Peter, Portesham
Stourpain
The WimborrE Villages PCC
Treasurer
West Luknrth
Wimbome Minster PCC
Yelminsler PCC
3,000
12,000
10,000
26,000
5,000
8,000
10,000
4,000
4,000
4,000
5,000
15,000
1,000
5,000
2,000
5,000
1,000
7,000
30,000
10,000
2,000
7,000
15.000
3,000
5,000
5.000
5,000
10,000
3.000
5,000
15,000
25,000
5,000
37
253.000