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2020-09-30-accounts

			Page
Reference and Administrative		Details ofthe Charity, its Trustees and Advisers
Trustees' Report			2-4
Independent Auditor's	Report	on the Financial Statements	5-7
Statement ofFinancial	Activities
Balance Sheet
Notes to the Financial	Statements		10-22

Trustees		Lord Beaverbrook,	Lord Beaverbrook,	Chairman
		Lady Beaverbrook
		The Hon Mr M	Aitken
		The Hon Mrs L Levi
		MrJEA Kidd
		The Hon Mr ARAitken
		The Hon Ms C	Aitken
Charity registered
number		1153470
Principal office		1SCrown Passage
		London
		SW1Y6PP
Chief executive		Miss JSFord
Independent	auditor	MHA Maclntyre	Hudson
		Chartered Accountants
		2 London Wall	Place
		London
		EC2Y5AU
Bankers		C Hoare &Co
		London
		EC4R 4TT
		CAF Bank
		West Mailing
		Kent
		ME194JQ
Solicitors		Fieldfisher LLP
		Riverbank House
		2 Swan Lane
		London
		EC4R 3TT
Custodians		Canaccord Genuity
		41 Lothbury
		London
		EC2R 7AE
Investment	Managers	Whitley Asset Management
		116Princedale	Road
		Notting Hill
		London
		W11 4NH

				Unrestricted	Total	Total
				funds	funds	funds
				2020	2020	2019
			Note	R
Income from:
Investments				78,215	78,215	86,470
Total income				78,215	78,216	86,470
Expenditure on:
Investment management		costs		81,976	81,976	43,810
Charitable activities				466,623	466,623	440,748
Other expenditure - depreciation				3,723	3723	1,722
Total expenditure				552,322	552,322	486,280
Net gains/(losses)	on investments			996,313	996,313	(44,684)
Net movement in	funds			522,206	522,206	(444,494)
Reconciliation of	funds:
Total funds brought	forward			13,334&776	13,334,776	13,779,270
Net movement in funds				522,206	522,206	(444,494)
Total funds carried forward				13,856,982	13,856,982	13,334,776

		Unrestncted	Total
		funds	funds
		2019f	2019
Dividends	receivable	?4,671	74,671
Interest receivable		11,799	11,799
		86,470	86,470
Analysis	ofgrants
		Grants to	Total
		Institutions	funds
		2020	2020
Grants payable		294,800	294,800
		Grants to	Totat
		lnstituti'ons	funds
		2019	2019
Grants payable		227,455	227,455

			2020	2019
			K
Name ofrecipient
English National		Ballet	23,500	25,000
Battle ofBritain		Memorial Trust		10,000
SSAFA				10000
Charlotte's BAG			10,500	6,500
LChapman				10,000
RAF Museum,	Hendon		25,000	25,000
PDSA			1,000	7,500
Northwood House			41,000	40,000
World House Welfare			2,100	20,000
BASMOM			11,000	10,000
Place 2Be			25,000
Billy Fiske Foundation			25,000
Cardinal Hume	Centre		10,000
Restart			15,000
Royal Brompton		Hospital	5,000
Beaulieu House			5,500
			199,600	164,000
Other grants (under K5,000)			95,200	63,455
			294,800	227,455

		Unrestricted	Total
		funds	funds
		2020	2020
Charitable	activities	466,623	466,623

Unrestricted	Total
lunds	funds
2019	2019
440,748	440,748

		Unrestricted	Total
		funds	funds
		2020	2020
Archiving costs		33,691	33,691
Legal costs		7,652	7,652
Printing, stationery	and other office costs	10,001	10,001
Rent		42,550	42,550
Insurance		3,301	3,301
Trustees' expenses		56	66
Total2020		97,251	97,251

		Endowment	Total
		funds	funds
		2019	2019
Archiving costs		39,646	39,646
Legal costs		17,542	17,542
Printing, stationery	and other office costs	5,942	5,942
Rent		67,948	67,948
Insurance		3,658	3,658
Trustees' expenses		2,862	2,862
Total2019		137,598	137,598

			2020f	2019
Fees payable to the Charity's	auditor for the audit ofthe Charity's	annual
accounts			5,260	5,100

Staffcosts
			2020f	2019
Wages and	salaries		62,307	60,210
Social security costs			2,933	4,132
Contribution	to defined contribution	pension schemes	3,000	3,000
Private health insurance			2,602	2,213
			70,842	69,555

2020	2019
No.	No.

2020	2019
No.	No.

	Heritage	Office
	assets f	equipment f	Totalf
Cost or valuation
At 1 October 2019	2,387,912	6,887	2,394,799
Additions	33,738	10,298	44,036
At 30September 2020	2,421,650	17,185	2,438,835
Depreciation
At 1 October 2019		2,294	2,294
Charge for the year		3,723	3723
At 30September 2020		6,017	6,017
Net book value
At 30September 2020	2,421,650	11,168	2,432,818
At30September 2019	2,387,912	4,593	2,392,505

	Listed
	investinentsf
Cost or valuation
At 1 October 2019	10,857,716
Additions	7,709,857
Disposals	(2,914,631)
Revaluations	(4,459,775)
At 30September 2020	11,193,167
Net book value
At 30September 2020	11,193,167
At 30September 2019	10,857,716

		2020	2019
Due after more than	one year
Other debtors		36,000	36,000
		36,000	36,000
Creditors: Amounts	falling due within one year
		2020	2019
Other taxation and social security			1,531
Accruals and deferred	income	4,000	18,639
		4,000	20,170

Statement o	ffunds - curren	t year
						Balance at
		Balance at 1				30
		October			Gains/	September
		2019	Income f	Expenditure F	(Losses) K	2020
Unrestricted	funds
General Funds - all funds		13,334,776	78,215	(552,322)	996,313	13,856,982

Analysis ofnet assets between funds Analysis ofnet assets between funds - current period
	Unrestricted	Total
	funds	funds
	2020	2020
	F.
Tangible fixed assets	2,432,818	2,432,818
Fixed asset investments	11,193,167	11,193,187
Debtors due after more than one year	36,000	38,000
Current assets	198,997	198,997
Creditors due within one year	(4,000)	(4,000)
Total	13,856,982	13,856,982

Analysis ofnet assets between funds - prior period
	Unrestricte	Total
	funds	funds
	2019	2019
Tangible fixed assets	2,392,505	2,392,505
Fixed asset investments	10,857,716	10,857,716
Debtors due after more than one year	36,000	36,000
Current assets	68,725	66,725
Creditors due within one year	(20,170)	(20,170)
	13,334,776	13,334,776