|||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| ## ## ## ##