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





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|||||||||Unrestricted|Endowment|Year to|Year to|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Note|Funds|Funds|31December|31 December|
|||||||||2020|2020|2020|2019|
|Income||||||||||||
|Investment<br>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<br>management|||costs|||||9,123|7,260|16,383|17,991|
|Expenditure<br>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|





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



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|||||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|





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|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<br>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|





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||Independent<br>Examiners||remuneration|remuneration|remuneration||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020||2019|
||Independent<br>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<br>market value|||at I January|||||2,243,133|2,220,780|
||Additions<br>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|





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|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|



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||||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|





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|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|



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