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2020-12-31-accounts

				Page
Legal and	administrative		details
Trustees'	annual report			2 —4
Statement	ofTrustees'		responsibilities
Independent examiner's			report
Statement	offinancial	activities
Statement	offinancial	position
Notes				9 —15

								Unrestricted	Endowment	Year to	Year to
							Note	Funds	Funds	31December	31 December
								2020	2020	2020	2019
Income
Investment income								43,334		43 334	70,270
Other income								442		442	1,200
Total income								43,776		43,776	71,470
Expenditure
Cost ofraising funds
Investment management			costs					9,123	7,260	16,383	17,991
Expenditure on	Charitable		activities				3,5	107,711		107,711	140,857
Total expenditure								116,834	7,260	124,094	158,848
Net expenditure	and net movements					in
funds before
gains and (tosses) on investments								(73,058)	(7,260)	(80,318)	(87,378)
Net (loss)/gain	on investment			assets				(32,804)	(5,522)	(38,326)	250,724
Net movement	in funds							(105,862)	(12,782)	(118,644)	163,346
Reconciliation	offunds
Fund balances brought		forward			1 January			1,643,044	881,230	2,524,274	2,360,928
Fund balances	carried	forward			31
December								1,537,182	868,448	2,405,630	2,524,274

					Unrestricted	Endowment	Total	Total
					Funds	Funds	2020	2019
						K
Listed	investment	income	-	dividends	43,334		43,334	70,270

				Unrestricted	Endowment	Total	Total
			Note	Funds	Funds	2020	2019
						K
Direct expenditure:
Payments	to	former employees		31,346		31,346	46,867
Payments	to	widows of
former employees				20,300		20,300	21,317
Nautilus	Welfare donation						4,451
				51,646		51,646	72,635
Support	costs		5	55,085		55,085	59,693
Governance		costs	5	980		980	8,529
				107,711		107,711	140,857

Investment	Management	Management	Management	Costs	Costs
						Unrestricted	Endowment	Total	Total
						Funds	Funds	funds	funds
								2020	2019
Management	Costs	2020				9,123	7,260	16,383
Management	Costs	2019				10,393	7,598		17,991
Allocation ofsupport			&governance			costs
								Total	Total
						Charitable		2020	2019
						activities	Governance
						g
Salaries and	pension					43,966		43,966	42,939
Independent	examination						980	980	8,529
Legal and professional			fees			35		35	2,867
Trustees liability insurance						1,522		1,522	1,287
Postage, stationery,		telephone,			travel,
computer and rent						9,435		9,435	12,430
Bank charges						127		127	170
						55,085	980	56,065	68,222

Staff costs		2020	2019
Wages and	Salaries	31,500	30,750
Employers	Social Security Costs	3,142	3,062
Other Pension Costs		5,912	5,771
Health Insurance		3,412	3,356
		43,966	42,939

	Independent Examiners		remuneration	remuneration	remuneration
								2020		2019
	Independent Examiners			services				980		8,529
	Taxation Services									(600)
								980		7,929
6	Net (losses)/gains	on investment				assets
							Unrestricted	Endowment	Total	Total
							Funds	Funds	funds	funds
									2020	2019
	Net realised/unrealised			(losses) 2020			(32,804)	(5,522)	(38,326)
	Net realised/unrealised			gains	2019		129,956	120,768		250,724
7	Investments
									2020	2019
	Quoted investments
	Opening market value			at I January					2,243,133	2,220,780
	Additions at cost								744,450	213,746
	Disposal proceeds								(748,515)	(442,117)
	Net realised/unrealised			(losses)/gains					(38,326)	250,724
	Market value at 31		December						2,200,742	2,243,133
	Historic cost								1,861,814	1,820,564
	Quoted Investments	at market			value	comprised:
									2020	2019
	UK Fixed Interest	Securities							160,117	229,817
	UK Equities								678,870	772,232
	Overseas Equities								735,609	693,875
	Overseas Fixed Interest								136,658	51,835
	Commodities								60,464	73,199
	Hedge Funds								207,339	202,885
	Property								221,685	219,290
									2,200,742	2,243,133

ebtors
		2020	2019
			g
Other debtors		4,098	3,687
		4,098	3,687
reditors: amounts	falling due within one year
		2020	2019
Other tax and social	security	1,010	1,408
Other creditors		7,233	10,785
		8,243	12,193

			Movement	in resources:
		Balance at				Balance at
		31December				31December
		2019	Incoming	Expenditure	Gain/(Loss)	2020
					g	g
Permanent	endowment
Capital Fund		881,230		(7,260)	(5,522)	868,448
Unrestricted	Fund	1,643,044	43,776	(116,834)	(32,804)	1,537,182
		2,524,274	43,776	(124,094)	(38,326)	2,405,630

nalysis of	net assets betwee	n funds
			Net
			Current
		Investments	Assets	Total	Total
				2020	2019
Endowment	Funds	982,100	(113,652)	868,448	881,230
Unrestricted	Funds	1,218,642	318,540	1,537,182	1,643,044
		2,200,742	204,888	2,405,630	2,524,274