TIMBER TRADES, BENEVOLENT SOCIETY Founded 1897 ANNUAL REPORT 31st December 2021 JOHNTAYLOR PRESIDENT 2021
| PAST PRESIDENTS | PAST PRESIDENTS | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| W. L. T.FOY . | 1897 - 1900 | E.BRYAN LATHAM cee MM BA. | 1965 | |||||||
| DAVID J.MORGAN . | 1901 - 1902 | PERCY WISE FcA. | 1966 | |||||||
| Chas. BIRD. | 1903 - 1905 | CECIL D.WOODBURN | - BAMBERGER ceE.... | 1967 | ||||||
| W. L.T.FOY | 1906 - 1907 | COLONEL DONALD C. | BELL | TD. | 1968 | |||||
| JOHN W. BURTON | 1908 | R. DAVID MAY | 1969 | |||||||
| Thos. Geo. SHARP | 1909 - 1910 | BERNARD A. HILL | 1970 | |||||||
| G.H. LINDSEY - RENTON. | 1911 | DOUGLAS R.JENNINGS | 1971 - 1972 | |||||||
| LAURANCE H. NEAME |
1912 - 1913 | DOUGLAS COCHRANE | 1973 | |||||||
| ALFRED DOBELL | 1914 - 1915 | DAVID W. MITCHELL | 1974 | |||||||
| SIR BIGNELL G. ELLIOTT | KBEJP | 1916- 1917 | A.W. BURNS | 1975 | ||||||
| ARTHUR C.MAY | 1918 | W.JOHN ALSFORD. | 1976 | |||||||
| H. G. NUTMAN . | 1919- 1920 | NORMAN WELCH. | 1977 | |||||||
| SIR KEITH W. PRICE | 1921 - 1922 | DAVID A.C.MONTGOMERY. | 1978 | |||||||
| DOUGLAS CLAYTON. | . | 1923 - 1924 | ROGER H. MASON. | 1979 | ||||||
| H. F.BUCKLAND | 1925 - 1926 | MALCOLM A. BENNIE | 1980 | |||||||
| NORMAN A.WRIGHT. |
1927 - 1928 | CHRISTOPHER G.A. LATHAM | FCA. | 1981 | ||||||
| ERNEST W. H. Beaton. | 1929 - 1930 | W. DENIS BUTLER . | 1982 | |||||||
| HERBERT Geo. SHARP | 1931 - 1932 | DOUGLAS R.JENNINGS | 1983 | |||||||
| E.LOCKS LATHAM | 1933- 1934 | TERENCE S.MALLINSON | . | 1984 - 1985 | ||||||
| H. R.WOODBURN - BAMB |
ERGER | 1935 | ROSSS.H. BELLAMY TDAlwsc | . | 1986 | |||||
| ERNEST C.HORTON | oeE. | 1936 - 1937 | PETER D. LLOYD. | 1987 - 1988 | ||||||
| H. CYRIL DAVID. | 1938 | RON LEWIS | 1989 - 1990 | |||||||
| SIR GERALD LENANTON | 1939 | GILBERT LEWIS | 1991 - 1992 | |||||||
| E.P.TETSALL | 1940 - 1941 | J.BARRY LEWIS | 1993 | |||||||
| HUBERT B.ELLIOTT | 1942 - 1943 | JOHN O. HOULTON . | 1994 | |||||||
| Jas L.CRAWFORD | 1944 - 1945 | JEAN KLOOS | 1995 | |||||||
| HUGH S.LEARY | 1946 - 1947 | RICHARD MIDDLETON | 1996 | |||||||
| Wm. B.MITCHELL. | 1948 - 1949 | PAUL F.MURPHY. | 1997 | |||||||
| STANLEY C.LONGHURST | CBEJP . | 1950 | IAN NORTH. | 1998 - 1999 | ||||||
| J.L.BAYNES CBE. | 1951 | J.BARRY LEWIS | 2000 - 2001 | |||||||
| WILLIAM BURNS | 1952 | BRIAN BAUCKHAM . | 2002 | |||||||
| Chas. I.PERKINS | 1953 | IAN MENZIES | 2003 - 2004 | |||||||
| H. NORMAN SADD . |
1954 | BARBARA CARTWRIGHT | 2005 - 2006 | |||||||
| A. COLIN C.DARBY MC. | 1955 | RICHARD BAGNALL | 2007 - 2008 | |||||||
| CLIFFORD B.NORTH. | 1956 | DAVID FRANCIS | 2009 - 2010 | |||||||
| STANLEY LLOYD | 1957 | DILWYN HOWELLS | 2011 - 2012 | |||||||
| HUBERT LENANTON | 1958 | MALCOLM COWLEY | 2013 - 2014 | |||||||
| Wm. H. DRUMMOND | . | 1959 | ROBERT BRUCE | 2015 - 2016 | ||||||
| HUBERT B.ELLIOTT. | 1960 | IVAN L.SAVAGE | 2017 - 2018 | |||||||
| DONALD E.WRIGHT | TDJP. | 1961 | PAUL SNAPE | 2019 —2020 | ||||||
| GEORGE C.HUGHES | 1962 | |||||||||
| AUSTIN TAYLOR . | 1963 | |||||||||
| JOHN V. MURPHY | 1964 |
| Unrestricted | Unrestricted | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2021 | 2020 | ||||||
| Notes | E | ||||||
| Income from: | |||||||
| Donations and |
legacies | 2 | 29,154 | 19,858 | |||
| Other fundraising | activities | 3 | 59,741 | 13,348 | |||
| Investments | 4 | 81,978 | 77,264 | ||||
| Total income | 170,873 | 110,470 | |||||
| ~eentnt e |
n: | ||||||
| Raising funds | 5 | 76,222 | 41,563 | ||||
| Charitable activities |
6 | 201,100 | 198,738 | ||||
| Total resources expended | 277,322 | 240,301 | |||||
| Net gains/(losses) | on investments | 11 | 400,522 | 33,206 | |||
| Net movement | in | funds | 294,073 | (96,625) | |||
| Fund balances | at | 1January | 2021 | 3,557,376 | 3,654,001 | ||
| Fund balances | at | 31December 2021 | 3,851,449 | 3,557,376 | |||
| The statement | of | financial | activities includes | all gains and losses recognised | in the | year. |
| 2021 | 2020 | ||
|---|---|---|---|
| Fundraisin and |
ublicit | ||
| Regional events | 37,156 | 4,091 | |
| Share ofgovernance costs (see note 8) |
3,616 | 3,427 | |
| Share ofsupport | costs (see note 8) | 21,225 | 21,594 |
| Fundraising and publicity |
61,997 | 29,112 | |
| Investment mana |
ement | 14,225 | 12,451 |
| 76,222 | 41,563 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | |||||
| Christmas gifts to beneficiaries |
30,432 | 27,027 | |||
| Allowances | under rule 10 | 69,280 | 73,375 | ||
| TV licences | 8 sets | 4,525 | 4,238 | ||
| Telephone | allowances | 12,047 | 13,256 | ||
| Spring gifts | to beneficiaries | 9,751 | 10,200 | ||
| Winter fuel | grants | 29,400 | 31,500 | ||
| 155,435 | 159,596 | ||||
| Grant funding ofactivities (see note 7) | 11,417 | 4,467 | |||
| Share ofsupport costs (see note 8) | 31,838 | 32,390 | |||
| Share ofgovernance | costs (see note 8) | 2,410 | 2,285 | ||
| 201,100 | 198,738 | ||||
| Analysis by fund |
|||||
| Unrestricted | funds | 201,100 | 198,738 | ||
| 201,100 | 198,738 | ||||
| 7 | Grants payable | ||||
| 2021 | 2020 | ||||
| f | E | ||||
| Grants to individuals | 11,417 | 4,467 | |||
| 4,467 |
| Support c | osts | ||||||
|---|---|---|---|---|---|---|---|
| Support | Governance | 2021 | 2020 | Basis ofallocation | |||
| costs | costs | ||||||
| f | f | f | f | ||||
| Staff costs | 60%Chantable, | 40% | |||||
| 32,000 | 32,000 | 32,000 | fundraising | ||||
| Depreciation | 60%charitable, | 40%o | |||||
| 218 | 218 | 218 | fundraising | ||||
| Office costs | 60%Charitable, | 40% | |||||
| 11,355 | 11,355 | 11,949 | Fundraising | ||||
| Computer | costs | 60%oCharitable, | 40% | ||||
| 5,533 | 5,533 | 6,231 | fundraising | ||||
| Meeting and travel | 60%Charitable, | 40% | |||||
| expenses | 1,768 | 1,768 | 1,322 | fundraising | |||
| General expenses | 60%Charitable, | 40% | |||||
| 2,090 | 2,090 | 2,068 | fundraising | ||||
| Bank charges | 60%Charitable, | 40% | |||||
| 99 | 99 | 196 | fundraising | ||||
| Audit fees | 6,026 | 6,026 | 5,712 | Governance | |||
| 53,063 | 6,026 | 59,089 | 59,696 | ||||
| Analysed | between | ||||||
| Fundraising | 21,225 | 3,616 | 24,841 | 25,021 | |||
| Charitable | activities | 31,838 | 2,410 | 34,248 | 34,675 | ||
| 53,063 | 6,026 | 59,089 | 59,696 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | ||||
| 2021 | 2020 | |||
| E | ||||
| Revaluation | of | investments | 378,308 | (46,380) |
| Gain/(loss) | on | sale of investments | 22,214 | 79,586 |
| 400,522 | 33,206 |
| Tangible fixed assets | ||
|---|---|---|
| Computers | ||
| Cost | ||
| At 1January 2021 | 1,089 | |
| At 31December 2021 | 1,089 | |
| Depreciation and impairment |
||
| At 1January 2021 | 654 | |
| Depreciation charged |
in the year | 218 |
| At 31December 2021 | 872 | |
| Carrying amount | ||
| At 31December 2021 | 217 | |
| At 31December 2020 | 435 |
| Listed | |
|---|---|
| investments | |
| Cost or valuation | |
| At 1January 2021 | 3,324,747 |
| Additions | 455,476 |
| Revaluation of investments |
378,308 |
| Gain/(loss) of investments |
22,214 |
| Disposals | (465,345) |
| At 31December 2021 | 3,715,400 |
| Carrying amount | |
| At 31December 2021 | 3,715,400 |
| At 31December 2020 | 3,324,747 |
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| f | f | |||||||
| Other taxation | and social security | 4,209 | 4,190 | |||||
| Other creditors | 200 | 200 | ||||||
| Accruals and deferred | income | 5,900 | 5,700 | |||||
| 10,309 | 10,090 | |||||||
| Related party | transactions | |||||||
| Remuneration | of | key | management | personnel | ||||
| The remuneration | of | key management | personnel | is as follows. | ||||
| 2021 | 2020 | |||||||
| f | f | |||||||
| Salary | 32,000 | 32,000 | ||||||
| Transactions | with | related parties | ||||||
| During the year the TTBSentered | into | the following transactions | with related parties: | |||||
| 2021 | 2020 | |||||||
| f | f. | |||||||
| Key management | personnel | 7,000 | 7,000 | |||||
| 7,000 | 7,000 |
| NOTES TO THE FINANCIAL STATEMENTS | (CONTINUED) | NOTES TO THE FINANCIAL STATEMENTS |
(CONTINUED) | |||||||||||||
| FOR THE YEAR ENDED 31DECEMBER2021 | FOR THE YEAR ENDED 31DECEMBER2021 | |||||||||||||||
| 19 | Fixed | asset investments | Market value 2021 |
Market value 2020 |
1,100 1,550 220 |
Cranswick PLC Ord Diageo PLC Ord. Edgewood LSelect US Select Growth I Z USD |
40,722 62,558 78,542 |
44,609 63,048 |
||||||||
| British governme E29,300 |
nt securities: UK 1.25 'Yo ILStock 2032 |
E 64,774 |
E 63,157 |
1,900 (2020 2,800) 1,073.68 |
Experian PLC Ord. Findlay Park Funds PLC American GBP Hedged |
Dis | 69,008 107,604 |
77,756 86,066 |
||||||||
| E50,000 Property funds |
UK 1.25'Yo ILStock 2027 | 54,320 | 7,250 | First Seniter Investments (UK) St Gbl Emg Ldrs BGBP Acc. |
Markets | 45,464 | 42,929 | |||||||||
| 30,717 | Charities Property Fund |
38,141 | 23,000 | Fundsmith LLP Equity I Inc NAV Inst |
140,953 | 115,672 | ||||||||||
| 37,968 | INTL Public Partnership Limited Ord |
64,546 | 64,622 | (2020 27,500) | ||||||||||||
| 40,000 | JLEN Environmental Assets Grp Ord |
42,000 | 45,600 | 3,050 | GlaxoSmithKline PLC Ord. |
40,931 | ||||||||||
| 39,000 | LXI REIT PLC Ord | 56,550 | 54,740 | 2,700 | Herald Inv. Trust PLC Ord. |
67,635 | 60,615 | |||||||||
| (2020 46,000) | 2,250 | Hill &Smith PLC Ord. | 40,410 | 31,725 | ||||||||||||
| 47,927 | Mayfair Capital Investment MGM Property Trust for Charities |
Inc | 44,448 | 1,500 | Imperial Brands PLC Ord. |
23,033 | ||||||||||
| 28,000 | Primary Health Properties PLC Ord |
42,392 | 66,332 | |||||||||||||
| (202043,411) | 57,500 | JP Morgan Gbl Emerging Mkts Inc Tst PLC |
Ord | 83,519 | 84,094 | |||||||||||
| 34,681 (2020 29,727) |
SDCL Energy Efficiency Inc Tst. PLC Ord | 40,750 | 31,659 | 25,000 | JP Morgan Asset Mgmt. UK Ltd US Equity Inv. NAV |
lnc C | 107,250 | 85,825 | ||||||||
| 20,281 | Tritax Big Box REIT PLC | 34,052 | (2020 32,000) | |||||||||||||
| 4,000 24,000 Equities, Funds a 38,250 |
Unite Group PLC Ord Warehouse REIT PLC Ord nd Overseas Assets: Aberdeen Standard FMS Ltd European |
Equity Inc | 44,420 42,432 43,146 |
41,800 38,223 |
75,000 13,000 60,000 |
Jupiter Unit Trust Managers Trust Managers Japan Income Legal &General Group PLC Ord. Legal and General UT Managers Dynamic Bd Trust I Inc GBP |
93,338 38,675 34,470 |
81,323 34,606 34,968 |
||||||||
| 24,750 38,500 |
Aberdeen Standard FMs Ltd Asia Pacific Equity Acc. Allianz Technology Trust PLC Ord. |
I | 97,047 135,713 |
98,770 114,345 |
27,500 20,398 |
Link Fund Solutions Ltd Milton UK Multi Cap Inc 8 Link Fund Solutions Ltd CF Ruffer Total Return I Inc |
61,765 76,185 |
55,146 70,696 |
||||||||
| 20 | Alphabet Inc Cap |
42,747 | 18,300 | Link Fund Solutions Ltd Trojan 5 Inc NAV |
58,730 | 52,333 | ||||||||||
| 1,300 | Associated British Foods PLC Ord. |
26,104 | 1,150 | Lyxor USTIPS UCITS ETF Monthly Hedged |
D-GBP | 136,753 | 165,890 | |||||||||
| 570 | AstraZeneca PLC Ord |
49,465 | 41,747 | (2020 1,470) | ||||||||||||
| 15,500 3,400 10,000 2,625 7,000 55,185 |
Aviva Investors UK Svcs Ltd US Equity NAV Baillie Gifford Japan Trust Ord. Beazley PLC Ord. BHP Group PLC-Ord. Blackrock Throgmorton Tst PLC Ord BNY Mellon Fund Managers Newton Inc |
Income 2 Asian Inc Inst |
33,422 46,630 57,737 68,250 76,603 |
31,206 37,536 36,460 50,531 53,550 74,450 |
12,671 (2020 14,079) 30,900 (2020 23,400) 240 6,000 (20208,700) |
Melrose Industries PLC Ord. Mercantile Investment Trust PLC Ord. Microsoft Corp Com NB Private Equity Partners Ltd Class A Ord |
20,261 82,967 59,595 111,000 |
25,068 57,915 39,056 101,355 |
||||||||
| 3,202 | Vistry Group PLC Ord |
37,912 | 30,083 | |||||||||||||
| (2020 3,200) | ||||||||||||||||
| 9,500 | BPOrd. | 31,398 | 24,206 | |||||||||||||
| 3,000 | Compass Group PLC Ord |
49,530 | 40,890 |
| TIMBER TRADES' BENEVOLENT SO | CIETY | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| TRUSTEES | |||||||||||
| NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) |
W. H. BEATON. | 1897-1904 | |||||||||
| FOR THE YEAR ENDED 31DECEMBER | 2021 | SIRS.B.BOULTON eAFrr. | 1897-1914 | ||||||||
| E.G.PRICE | 189?-1922 | ||||||||||
| 19 | Fixed asset investments (continued) |
Market | value 2021 |
Market value 2020 |
W. L.T.FOY C.T. F.CHURCHILL. |
1905-1911 1912-1925 |
|||||
| E | L H. NEAME | 1914-1924 | |||||||||
| 2,016 | National Grid PLC Ord. |
21,366 | 17,438 | SIR KEITH W. PRICE | 1922-1956 | ||||||
| 180 | Nividia Corp Com |
39,101 | C.S.GORDON CLARK. | 1925-1943 | |||||||
| 550 950 8,500 900 |
Novartis AG (Regd) Persimmon PLC Ord. Polar Capital Funds Global Convertible Rio Tinto PLC Ord. |
35,776 27,132 72,930 44,028 |
38,036 26,287 81,430 49,230 |
C.J.MORGAN SIRWILLIAM J.MALLINSON HERBERT G.SHARP. |
BART. | .1925-1929 .1930-1944 .1944-1956 |
|||||
| 560 | Reckitt Benckiser PLC Ord. | 35,515 | 36,635 | NORMAN A. WRIGHT. | 1945-1959 | ||||||
| 17,500 | Rotork PLC Ord. | 62,510 | HUBERT B.ELUOT | 1957-1963 | |||||||
| 2,850 1,700 320 9,500 10,000 |
Royal Dutch Shell "B"Ord. RWE AG NPV SAP SE Ord NPV Scottish Mortgage Inv. Trust Ord Standard Chartered PLC Ord. |
46,238 50,909 33,451 127,063 44,840 |
35,893 30,777 115,330 46,590 |
STANLEY C.LONG HURST ceEJp WILLIAM BURNS DONALD E.WRIGHT TDJP CLIFFORD B.NORTH. GEORGE C.HUGHES |
1957-1971 1960-1961 1962-1992 1963-1977 1971-1982 |
||||||
| 500 920 31,000 210 |
Vanguard Investment Series Global Credit BD Investor Unilever PLC Ord Vodafone Group Ord VISA Inc Com Stk. |
53,447 34,801 33,602 |
40,406 37,491 33,599 |
CECIL D.WOODBURN-BAMBERGER CHRISTOPHER G.A. LATHAM FOA. ROGER H. MASON A.W. BURNS |
ceE | 1978-1985 1982-1991 1985-1987 .1987-2005 |
|||||
| 1,750 | Whitbread PLC Ord. |
52,413 | W. JOHN ALSFORD. | .1991-1995 | |||||||
| 2,000 | Xtrackers ETC PLC Physical Gold ETC GBP HDG |
44,835 | 94,530 | W. DENIS BUTLER. | .1992-2006 | ||||||
| (20204,000) | J.BARRY LEWIS | .1996-2012 | |||||||||
| JOHN HUCKMAN . |
.2001-2011 | ||||||||||
| Total Market Value | 3,715,400 | 3,324,747 | IAN NORTH. | .2004-2017 | |||||||
| IAN MENZIES | .2007-2018 | ||||||||||
| DAVID FRANCIS | 2012- | ||||||||||
| RICHARD BAGNALL | .....2013— | ||||||||||
| BARBARA CARTWRIGHT | .2018- | ||||||||||
| ROBERT BRUCE | .2019- |
TTBS TIMBER TRADES, BENEVOLENT SOCIETY