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