2020-12-31-accounts - The Connaught Trust

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			Page
Report ofthe Trustees		1	Io	4
Report ofthe Independent	Auditors	5	Io	7
Statement ofFinancial Activities
Balance Sheet
Notes tothe Financial Statements		10	io	19

	F	ORTHE Y	EAR ENDED 31 DECEM	BER 2020
				2020	2019
				Unrestricted	Total
				funds	funds
			Notes	6	6
INCOME AND ENDOWMENTS Donations and legacies		FROM		19,410
Investment income Other income				200,165	217,137 20,000
Total				219,575	237,137
EXPENDITURE ON Raising funds				26,120	47,265
Charitable activities Grantmaking				69,653	150,601
Total				95,773	197,866
Net gains/(losses) on	investments			(224,448)	356,616
NET INCOMEI(EXPENDITURE)				(100646)	395887
RECONCILIATION OF FUNDS
Total funds brought	forward			5,106,907	4,711,020
TOTAI. FUNDS CARRIED FORWARD				5,006,261	5,106,907

	BALANCE SHEET 31 DECEMBER2020
		2020	2019
		Total	Total
		funds	funds
	Notes		6
FIXEDASSETS Tangible assets Heritage assets	9 10	1,845 75,315	2,396 55,905
Investments Investments Investment propeity	11 12	3,034,053 1,320,000	3,274,803 1,315,000
		4,431,213	4,648, 'l04
CURRFNTASSETS Debtors Cash at bank	13	11,593 591,003	7,340 489,887
		602,596	497,227
CREDITORS
Amounts falling due within one year	14	(27 548)	(38424)
NET CURRENT ASSETS		575,048	458,803
TOTAL ASSETSLESS CURRENT
LIABILITIES		5,006,261	5,106,907
NET ASSETS		5,006,261	5,106,907
FUNDS	15
Llnrestricted funds		5,006,261	5,106,907
TOTAL FUNDS		5,006,261	5,106,907

Investment manaement costs
g	2020 5	2019 f
Commission and management fees Investment advice Property mpairs and maintenance Insurance Professional fees Sundry expenses Dilapidation expenditure Depreciation	2,453 14,866 4,715 2,163 1,372 551	8,524 14,809 5,067 1,412 12,585 1,814 2,500 554
	26,120	47,265

GRANTS PAYABLE -continued
The total grants paid to institutions dunng		the year was as follows:	2020	2019
			8
4th Bn PWRR 457 (HY) Bty RA 679 Duke ofConnaughts Sqn AAC 295 (HY) Bty RA MOD Leighton House 6th BaNalion The Rifles 7th Battalion The Rifles 2 Tp 579 Field Sqn RE Blighmont ARC HMS King Alfred, Whale Island Southampton University OTC Hampshire and Isle of Wight ACF Berkshire Army Cadet Force Dorset Army Cadet Force Cadet Training Centre, Frimley Park Steyning Army Cadet Force Central District Sea Cadets Basingstoke Sea Cadets Cowes Sea Cadets			2,000 600 (1,500) 3,000 8,500 1,700	8,820 3,830 4,128 2,000 4,109 2,500 1,190 1,636 4,500 2,000 4,500 2,500 1,500 1,200 3,454 2,500
Crawley Sea & Marine Cadets Horsham Sea Cadets Parkstone Sea Cadets			3,800	5,000 4,000
Southampton Sea Cadets Salisbury Sea Cadets Staines snd Eghsrn Sea Cadets Csnford School CCF Pools High School CCF Hampshire and Isle ofWight ATC 3AEF, RAF Fsmborough Air Training Carps Headquarters Volunteer Cadet Corps Volunteer Cadet Corps Training Centre Royal Marines Volunteer Cadet Corps Hampshire and IOW Lord Lieutenants	Fund		5,000 1,100 3,707 2,880 5,000	3,500 5,000 2,500 9,686 4,478 150 5,000 4,800 3,330 9,800 1,200
			35,787	108,811

SUPPORT COSTS	SUPPORT COSTS				Governance
			Management	Finance	costs	Totals
				F
Grantmaking			780	33	33,053	33,866
Support costs, included		in the above,	are as follows:
Management					2020	2019
						Total
					Grantmaking	activities
						E
ITsupport					780	5,410
Finance					2020	2019
						Total
					Grantmaking	activities
					E
Bank charges					33	50
Governance	costs				2020	2019
						Total
					Grantmaking	activities
					E	E
Auditors' remuneration Executive to the Trust's Trustees' expenses Professional fees		fees			5,380 25,608 1,565 500	6,403 27,760 1,180 987
					33,053	36,330

9	TANGIBLEFIXEDASSETS
.		Fixtures
		and
		fittings
	COST
	At 1 January 2020 and 31 December 2020	7,119
	DEPRECIATION At 1 January 2020 Charge foryear	4,723 551
	At 31 December 2020	5,274
	NET BOOKVALUE At 31 December 2020	1,845
	At 31 December 2019	2,396
10.	HERITAGE ASSETS	Total
		E
	MARKET VALUE
	At 1 January 2020 Additions	55,905 19,410
	At 31 December 2020	75,315
	NET BOOK VALUE At 31 December 2020	75,315
	At 31 December 2019	55,905

FIXEDASSET INVESTMENTS
	Listed
	investments
	6
MARKET VALUE At 1 January 2020 Additions Disposals Revaluations	3,274,803 2,826,374 (2,837,676) (229,448)
At 31 December 2020	3,034,053
NET BOOKVALUE At 31 December 2020	3,034,053
At 31 December 2019	3,274 803

Analysis of investments	by type:
			2020	2019
			F	E
Equities Bonds Multi-Asset Funds			1,942,901 261,813 87,229	2,460,445 241,870 102,037
Property Other Cash held within the investment		portfolio	418,446 245,725 77,939	252,208 205,525 12,718
			3,034,053	3,274,803
Analysis ofinvestments	between	those held within or outside the United Kingdom:
			2020	2019
			F
IIVithin the United Kingdom Outside the United Kingdom			1,269,601 1,764,452	2,300,522 974,281
			3,034,053	3,274,803
INVESTMENTPROPERTY
FAIR VALUE At 1 January 2020 Revaluation				1,315,000 5,000
At 31 December 2020				1,320,000
NET BOOK VALUE At 31 December 2020				1,320,000
At 31 December 2019				1,315,000

		FOR THE YEAR ENDED 31 DECEM	FOR THE YEAR ENDED 31 DECEM	FOR THE YEAR ENDED 31 DECEM	FOR THE YEAR ENDED 31 DECEM	FOR THE YEAR ENDED 31 DECEM	BER 2020
DEBTORS:AMOUNTS		FALUNG DUE WITHIN ONE YEAR						2020 f	2019
Other debtors Accrued income Prepayments								30 8,866 2,697	2,856 652 3,832
								11,593	7,340
CREDITORS: AMOUNTS			FALLING DUE			WITHIN ONE YEAR		2020 f	2019
VAT Grants payable Deferred income (see below) Accrued expenses								1,780 400 9,023 16,345	4,822 5,400 9,859 18,343
								27,548	38,424
Deferred income								2020 f	2019 f
Brought forward Amount released to Amount deferred in	incoming year			resources				9,859 (9,859) 9,023	9,500 (9,500) 9,859
Carried forward								9,023	9,859
MOVEMENT IN FUNDS
								Net
								movement	At
							At 1.1.20 f	in funds	31.12,20 f
Unrestricted funds General fund Rspairsto Property Marketing Fund	Fund						5,019,692 67,788 19,427	(96,913) (3,733)	4,922,779 64,055 19,427
							5,106,907	(100,646)	5,006,261
TOTAL FUNDS							5,106,907	(100,646)	5,006,261
Net movement in funds,		included			in the above are as follows:
						Incoming	Resources	Gains and	Movement
						resources E	expended F	losses E	in funds f
Unrestricted funds General fund Repairsto Property	Fund					219,575	(92,040) (3,733)	(224,448)	(96,913) (3,733)
						219,575	(95,773)	(224,448)	(100,646)
TOTAL FUNDS						219,575	(95,773)	(224,448)	(100,646)

Comparatives	for	moveme	nt in fun	ds
							Net
							movement	At
						At 1.1.19	in funds	31.12.19
						9	5
Unrestricted funds General fund Repairs to Properly Marketing Fund		Fund				4,621,787 69,826 19,427	397,925 (2,038)	5,019,692 67,788 19,427
						4,711,020	395887	5 106907
TOTALFUNDS						4,711,020	395,887	5,106,907
Comparative	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					237,137	(195,828)	356,816	397,925
Repairs lo Property		Fund				(2,038)		(2,038)
					237,137	(197,866)	356,616	395,887
TOTAL FUNDS					237,137	(197,866)	356,816	395,887