2021-03-31-accounts - London Scottish Regiment Benevolent Fund

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					Unrestricted	Funds	Unrestricted	Funds
					2021		2020
				Note	E	E	E	E
Income and endowments			from:
Donations	and legacies				584		10,690
Investments				(3)	39,765		42,392
Other				(4)	155		265
Total						40,504		53,347
Expenditure on:
Charitable	activities			(5)	15,018		39,879
Raising funds				(6)	6,938		8,037
Total						21,956		47,916
						18,548		5,431
Net gains/(losses)		on investments		(2)		226,857		(195,750)
Net income/(deficit)						245,405		(190,319)
Balance at	1April 2020					956,984		1,147,303
Balance at	31March 2021					1,202,389		956,984

Summary ofinvestment transactions	Cost	Market	Unrealised
		Value	Gains
	f	E	E
Opening balances 1April 2020	868,465	920,777	52,312
Purchases	173,822	173,822
Sales	(155,416)	(155,416)
Realised gain in the year	29,357	29,357
Unrealised gain in the year		197,500	197,500
Closing balances at 31March 2021	916,228	1,166,040	249,812

Quoted Investments
		Holdings		Purchases			Holdings
		at 1 April	2020	(Sales)	(Proceeds)	Gain/	at31 March 2021		Market
		Nominal	Cost	Nominal	Cost	(loss)	Nominal	Cost	Value	Income
Fixed Interest
AXA Funds Mgmt SA Gbl Strat	Bds	290	29,748				290	29,748	31,868	624
HGD I Inc NAV
FIL Inv Svcs
UK Money Blr Ir				30,000	30,050		30,000	30,050	30,510	807
UK Treasury 1,875%Stock		19,000	30,710	(19,000)	(30,197)	(513)
Index Lmked 22/11/22
New Capital UCITS pic/KBA Consulting		290	31,321				290	31,321	33,254	1,182
INealthy Nations Bond Fund class C units
CQS New City High Yield Fund		30,000	19,876				30,000	19,876	15,420	1,338
Ordmary NPV shares
Aberdeen Std Life Invs GBI Idx	Lkd	41,030	21,594				41,030	21,594	24,827	347
Bd SInstl Inc
TwentyFour Income Trust		36,240	40,222				36,240	40,222	39,139	2,319
Ordinary 1pshares
			173,471		(147)	(513)		172,811	175,018	6,617
Equities
27500Aberdeen Std ASI Europe e UK
Inc Equity		27,500	27,036				27,500	27,036	28,298	893
Alliance Trust pic
Ordinary 2 5p shares		2,570	10,368	(1,375)	(10,843)	5,296	1,195	4,821	11,102	271
Samarang Asset Mgmt Halley SICAV
ASN PROS1		100	19,183				100	19,183	25,143	1,059
Samarang Asset Mgmt Japan
Value B1 Cap		88	8,750				88	8,750	21,347
BHP Billiton pic
USDO 5 Common Stock		1,250	18,200				1,250	18,200	26,181	1,439
BNY Mellon Fund Managers
Newton Asian Income Fund		13,500	28,154				13,500	28,154	32,207	1,069
BPpic
Ordinary USDO 25		2,000	10,882				2,000	10,882	5,893	401
Close Brothers Group
Ordinary 25p shares		1,430	19,192				1,430	19,192	22,179	572
Chelverton
UK Div Ord 25p				7,000	13,531		7,000	13,531	14,840
Diverse Income Trust pic
Ordinary 0 1p shares		42,269	28,815				42,269	28,815	47,553	1,564
Edinburgh Investment Trust pic
Ordinary 25p shares		7,850	44,697	(450)	(2,052)	(510)	7,400	42,135	44,400	2,132
HG Capital Trust
Ordinary 25p shares		590	7,127				590	7,127	18,880	295
GlaxoSmithkline pic
Ordmary 25p shares		1,000	5,190				1,000	5,190	12,880	800
Gore Street Energy Storage
Ord 1pshares				21,750	22,917		21,750	22,917	23,490	470
Investec/Ninety One Fd Mgrs Global Qual		Eq
Income K2		38,500	41,689				38,500	41,689	51,658	1,800
Ishares Pic Core FTSE 100
UCITS ETF		4,900	34,975				4,900	34,975	32,384	934
JP Morgan Asset Management	UK Itd
US Equity invcome NPV shares		68,490	39,695				68,490	39,695	89,242	1,904
JP Morgan Global Emerging Markets
Income Fund 1p Ordinary shares		22,650	29,242				22,650	29,242	32,956	1,155
Cerned Forward			546,666		23,406	4,273		574,345	715,651	23,375

Quoted Investments		Holdings	Holdings		Purchases			Holdings
		at	1 April 2020		(Sales)	(Proceeds)	Gain	at 31March	2021	Market
		Nominal		Cost	Nominal	Cost	l(loss)	Nominal	Cost	Value	Income
Equities				6		6	6			6	6
Brought Forward				546,666		23,406	4,273		574,345	715,651	23,375
Law Debenture Corp
Ordinary 5p shares			7,000	34,602				7,000	34,602	50,750	2,723
Legg Mason Rare Global Infra Inc
SGBP Inc			14,980	15,175				14,980	15,175	13,014	1,647
Leg9 Mason Rare Global Infra Inc
XGBP Inc			11,180	11,971				11,180	11,971	17,751
Link Fund/Majedie Asset Management			UK Income
XInc NAV			21,420	29,290	(21,420)	(24,786)	(4,504)
Murray International	Trust pic
Ordinary 25p shares			4,000	25,152				4,000	25,152	48,320	2,140
Murray Income Trust
Ordinary 25p shares			3,680	28,926				3,680	28,926	31,427	1,260
M&G Investment Mgmt Episode Macro
HGD T H NET			12,100	14,514	(12,100)	(16,331)	1,817				440
M&G pic (demerger from Prudential		pic)
Ordinary 5p shares			2,020	1,724	(2,020)	(4,182)	2,458
Newriver Retail Ltd
Onf NPV			8,727	28,435				8,727	28,435	8,185
MUZINICH &Co
Global Tactical Cred	HGD S				250	20,529		250	20,529	19,492	603
Ninety One Fd NMgrs
Div Income J2					38,000	36,787		38,000	36,787	38,521
Polar Capital Fund Gbl Converbble
IGBP Dis			5,500	44,570				5,500	44,570	50,160	1,986
Prudential pic (see M&G pic)
Ordinary 5p shares			2,020	10,671				2,020	10,671	31,118	505
Reckitt Benckiser pic
Ordinary 10p shares			217	7,878				217	7,878	14,101	379
Rio Tinto pic
Ordinary 10p shares			350	3,378	(350)	(17,759)	14,381				1,040
Royal Dutch Shell pic
Ordinary Euro 0.07 Bshares			1,274	740	(1,274)	(16,209)	15,469
Sanlam Univ Funds	Multi Stgy A
STER			1,970	23,512	(1,970)	(22,680)	(832)
Schroder Invst Mgmt
ISFGlobal Rec Hedged CAcc			120	14,082	(120)	(10,377)	(3,705)
Cost adjustment
Standard Life Glbl Real Estat
Instl ln			28,000	11,783				28,000	11,783	11,441	483
Standard Life Private	Equiiy Fund
Ordinary 0.2p shares			5,270	15,067				5,270	15,067	23,030	696
SSGA SPDR
ETFS EuroPe					660	25,724		660	25,724	31,310	721
T Bailey Evenlode
Income C					11,250	24,284		11,250	24,284	25,669	448
Unilever pic
Ordinary 3.11pshares			890	329				890	329	36,100	1,319
				868,465		18,406	29,357		916,228	1,166,040	39,765

Analysis ofother income	Analysis ofother income	Analysis ofother income		2021	2020
				f	E
Tax recoverable				148	175
Bankinterest				7	90
				155	265
Analysis ofcharitable		activities		2021	2020
				E	E
Gifts, grants	and allowances			14,244	38,630
Donations to	other charities
Support costs:
Office expenses				40	515
Independent	examiner's		fee	734	734
				774	1,249
				15,018	39,879


Analysis ofunrestricted	fund movements	2021	2020
		E	E
Balance at 1April 2020		956,984	1,147,303
Income		40,504	53,347
Expenditure		(21,956)	(47,916)
Gains/(losses)		226,857	(195,750)
Balance at 31March 2021		E1,202,389	6956,984