| CONTENTS | CONTENTS | PAGE | ||||
|---|---|---|---|---|---|---|
| Trustees | and officials | |||||
| Report of | the Trustees | 2-4 | ||||
| Statement | ofthe Trustees' | responsibilities | in respect ofthe financial statements | |||
| Report of | the independent | auditors to the | Trustees' of Lloyd's Benevolent | Fund | 6-7 | |
| Report of | the investment | manager | 8-9 | |||
| Statement | offinancial activities |
|||||
| Balance sheet | ||||||
| Notes to the financial statements | 12-14 |
| Fund Performance | Fund Performance | 12months to 3(ht September 2020 | 12months to 3(ht September 2020 | 12months to 3(ht September 2020 |
|---|---|---|---|---|
| 1-Year | ||||
| UK Equities | ||||
| Aberdeen | UK All Share tracker | -16.5% | ||
| FTSEAll | Share Index | -16.6% | ||
| Global Equities | ||||
| Vanguard | FTSEAll World | 5.3% | ||
| MSCI AC | World Index (Net | |||
| dividends | reinvestedj | |||
| Cash | ||||
| JPMorgan | GBP Liquidity | I VNAV | 0.4% |
| OR THE YEAR ENDED | 30SEPTEM | BER | 2020 | |
|---|---|---|---|---|
| 30-Sep | 30-Sep | |||
| INCOME AND EXPENDITURE | Note | 2020 | 2019 | |
| E'000 | E'000 | |||
| INCOME: | ||||
| Donations | 1 | 2 | ||
| Investment income |
333 | 353 | ||
| Total income | 355 | |||
| EXPENDITURE: | ||||
| Investment management fees |
(47) | (48) | ||
| Grants payable to individuals | (341) | (412) | ||
| Salaries &Associated Costs | (55) | (53) | ||
| Other Expenditure Total expenditure |
(10) ~453 |
(10) ~(523 |
||
| Net income and net movement | in | |||
| funds before gains and losses | on investments | (119) | (168) | |
| Unrealised (loss) Igain |
3 | (1,372) | 73 | |
| Realised Gain | 2 | 21 | ||
| Net (loss) / gain on investments | (1,370) | 94 | ||
| NET MOVEMENT IN FUND |
(1,489) | (74) | ||
| RecoaciTiadon offunds: | ||||
| Total funds brought foward |
13,137 | 13,211 | ||
| Total funds cerned forvaard | 11,648 | 13,137 |
| BALANCE SHE | ET | AS | AT 30S | EPTEM | BER2020 | ||
|---|---|---|---|---|---|---|---|
| Note | 2020 | 2019 | |||||
| L"000 | I'000 | K'000 | 6000 | ||||
| INVESTMENTS | |||||||
| At market valuation | 11,587 | 13,061 | |||||
| CURRENT ASSETS | |||||||
| Debtors | 45 | 52 | |||||
| Cash at bank | 33 | 71 | |||||
| 78 | 123 | ||||||
| CURRENT LIABILITIES 8&8 1 lll 66 461 |
I | 4 | ~47 ~17 |
~47 ~47 |
|||
| NET CURRENT ASSETS | 61 | 76 | |||||
| NET ASSETS | 11648 | 13,137 | |||||
| FUNDS | |||||||
| Unrestricted | 11 | 648 | 13137 | ||||
| Approved and authorised |
for | issue by | the Board | ofTrustees one March 2021 and signed | |||
| behalf by | |||||||
| Es.~~ | |||||||
| G Findlay | R Ohlson | ||||||
| Chairman | Deputy Chairman |
| INVESTMEN | T INCOME | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||||
| f'000 | f'000 | ||||||||
| Overseas: | Dividends -Vanguard |
FTSE | 82 | 97 | |||||
| UK: Dividends -Aberdeen |
Foundation | Growth | Fund | 251 | 256 | ||||
| 333 | 353 | ||||||||
| QUOTED INVESTMENTS | |||||||||
| 2020 | |||||||||
| f'000 | E'000 | E'000 | |||||||
| Equity | Cash | Total | |||||||
| Market value | brought forward | 12,886 | 175 | 13,061 | |||||
| Add: Additions | to Investments | cost | 217 | 217 | |||||
| Less: Disposals at carrying | value | (250) | (250) | ||||||
| Net unrealised | gain (loss) for | the year | (1,372) | (1,372) | |||||
| Movements on cash account |
(69) | (69) | |||||||
| Market value | carried forward | 11,481 | 106 | 11,587 |
| 2020 | 2019 | |
|---|---|---|
| F'000 | L'000 | |
| Accruals | 17 | 47 |
| Total | 17 | 47 |
| DEBTORS | |||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| f'000 | F'000 | ||||
| Prepayments | and | accrued | income | 45 | 52 |
| Total | 45 | 52 |