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2020-12-31-accounts

Page
Report ofthe Trustees 1 to 5
Report ofthe Independent
Auditors		 6 to 7
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement 10
Notes to the Cash Flow Statement
Notes to the Financial Statements 12 to 18

31/12/20 31/12/19
Unrestricted Restricted Endowment Total Total
fund fund fund funds funds
Notes
INCOME AND
ENDOWMENTS FROM
Investment
income		 264,835 365,563 630,398 793,155
EXPENDITURE ON
Raising funds 53,252 136,252 189,504 306,144
Charitable
activities
Compton Verney House Trust
Governance
costs		 1,400,000
29,878		 1,400,000
29,878		 1,400,000
81,379
Other (36,334) (36,334) (84,656)
Total 53,252 1,529,796 1,583,048 1,702,867
Net gains on investments 1,758,415 1,758,415 4,456,655
NET INCOME 211,583 594,182 805,765 3,546,943
RECONCILIATION OF
FUNDS
Total funds brought forward 10,376,251 5,095,755 25,000,000 40,472,006 36,925,063
TOTAL FUNDS CARRIED
FORWARD 10,587,834 5,689,937 25,000,000 41,277,771 40,472,006

)19 Tq*l T￿1 •.rwTI JJi4115 97J62 1129.409 167312 i• (107JJ2) 1672a 1175J12 4JW IOJ17J34 5WJJ7 41377.771 $119,937 41377.Tll 4q472m6

31/12/20 31/12/19
Notes
Cash flows from operating activities
Cash generated
from operations		 (1,506,916) (1,615,046)
Interest paid (78) (15)
Net cash used in operating activities (1,506,994) (1,615,061)
Cash flows from investing activities
Purchase offixed asset investments (12,626,799) (24,790,035)
Sale offixed asset investments 14,264,306 25,741,352
Dividends
received		 630,398 793,155
Net cash provided
by investing		 activities 2,267,905 1,744,472
Change in cash and cash equivalents in
the reporting
period		 760,911 129,411
Cash and cash equivalents at the
beginning
ofthe reporting		 period 2,368,498 2,239,087
Cash and cash equivalents at the end of
the reporting
period		 3,129,409 2,368,498

RECONCILIATION
OF NE		 T INCOME TO NET CASH FLOW FROM OPERATING A CTIVITIES
31/12/20 31/12/19
Net income for the reporting period (as per the Statement ofFinancial
Activities) 805,765 3,546,943
Adjustments
for:
Gain on investments (1,758,415) (4,456,655)
Interest paid 78 15
Dividends
received		 (630,398) (793,155)
Decrease in debtors 73,187 58,405
Increase in creditors 2,867 29,401
Net cash used in operations (1,506,916) (1,615,046)

At 1/1/20 Cash flow At 31/12/20
Net cash
Cash at bank and in hand 2,368,498 760,911 3,129,409
2,368,498 760,911 3,129,409
Total 2,368,498 760,911 3,129,409

31/12/20 31/12/19
Dividends 630,398 793,155
3. RAISING FUNDS
Investment management costs
31/12/20 31/12/19
Portfolio management 189,504 306,144
4. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 5) Totals
Compton Verney House Trust 1,400,000 1,400,000
Governance costs 29,878 29,878
1,400,000 29,878 1,429,878
5. SUPPORT COSTS
Governance
costs
Governance costs 29,878
Support costs
Governance costs
31/12/20 31/12/19
Trustees expenses 560
Auditors
remuneration		 3,600 3,600
Trustee indemnity insurance 3,640 3,640
Accountancy 22,560 22,560
Professional fees 51,004
Bank charges 15
29,878 81,379

31/12/20 31/12/19
Trustees expenses 560
The Trustees expenses relate to the reimbursement The Trustees expenses relate to the reimbursement oftravelling
exp		 enses to two Tr ustees.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Endowment Total
fund fund fund funds
INCOME AND ENDOWMENTS FROM
Investment
income		 356,195 436,960 793,155
EXPENDITURE ON
Raising funds 84,409 221,735 306,144
Charitable
activities
Compton Verney House Trust 1,400,000 1,400,000
Governance
costs		 81,379 81,379
Other (84,656) (84,656)
Total 84,409 1,618,458 1,702,867
Net gains on investments 1,315,281 3,141,374 4,456,655
NET INCOME 1,587,067 1,959,876 3,546,943
RECONCILIATION OF FUNDS
Total funds brought forward 8,789,184 3,135,879 25,000,000 36,925,063
TOTAL FUNDS CARRIED FORWARD 10,376,251 5,095,755 25,000,000 40,472,006

FIXEDASSETINVESTMENTS
Listed
investments
MARKET VALUE
At
1 January 2020		 38,113,778
Additions 12,626,799
Disposals (14,221,059)
Revaluations 1,715,169
At 31 December 2020 38,234,687
NET BOOK VALUE
At 31 December 2020 38,234,687
At 31 December 2019 38,113,778

The global analysis ofthe investment
as		 sets is as follows:-
Listed Unlisted
investments investments Totals
Within the UK 10,169,060 10,169,060
Outside the UK 28,065,627 28,065,627
38,113,778 38,113,778
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/20 31/12/19
Other debtors 24,375 97,562
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/20 31/12/19
Other creditors 110,700 107,832

MOVEMEN T IN FU NDS
Net
movement At
At 1/1/20 in funds 31/12/20
Unrestricted funds
General fund 10,376,251 211,583 10,587,834
Restricted funds
Unapplied
total return		 fund 5,095,755 594,182 5,689,937
Endowment funds
Endowment 25,000,000 25,000,000
TOTAL FUNDS 40,472,006 805,765 41,277,771
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted funds
General fund 264,835 (53,252) 211,583
Restricted funds
Unapplied
total return		 fund 365,563 (1,529,796) 1,758,415 594,182
TOTAL FUNDS 630,398 (1,583,048) 1,758,415 805,765
Comparatives for movement in funds
Net
movement At
At 1/1/19 in funds 31/12/19
Unrestricted funds
General
fund		 8,789,184 1,587,067 10,376,251
Restricted funds
Unapplied
total return		 fund 3,135,879 1,959,876 5,095,755
Endowment
funds
Endowment 25,000,000 25,000,000
TOTAL FUNDS 36,925,063 3,546,943 40,472,006

Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted
funds
General fund 356,195 (84,409) 1,315,281 1,587,067
Restricted funds
Unapplied
total return		 fund 436,960 (1,618,458) 3,141,374 1,959,876
TOTAL FUNDS 793,155 (1,702,867) 4,456,655 3,546,943
Net
movement At
At 1/1/19 in funds 31/12/20
Unrestricted funds
General fund 8,789,184 1,798,650 10,587,834
Restricted funds
Unapplied
total return		 fund 3,135,879 2,554,058 5,689,937
Endowment funds
Endowment 25,000,000 25,000,000
TOTAL FUNDS 36,925,063 4,352,708 41,277,771
Incoming Resources Gains and Movement
resources expended losses in funds
Unrestricted
funds
General
fund		 621,030 (137,661) 1,315,281 1,798,650
Restricted funds
Unapplied
total return		 fund 802,523 (3,148,254) 4,899,789 2,554,058
TOTAL FUNDS 1,423,553 (3,285,915) 6,215,070 4,352,708