TIMBER TRADES BENEVOLENT SOCIETY Founded 1897 SIGNED COPY ANNUAL REPORT 31st December 2022 JOHN TAYLOR PRESIDENT 2022
| PAST PRESIDENTS | |||
|---|---|---|---|
| W. L.T. FOY | 1897- 1900 | ||
| DAVID J.MORGAN | 1901 - 1902 | ||
| Chas. BIRD. | 1903 - 1905 | ||
| W. L.T.FOY | 1906 - 1907 | ||
| JOHN W. BURTON. | 1908 | ||
| Thos. Geo. SHARP | 1909- 1910 | ||
| G. H. LINDSEY - RENTON. | 1911 | ||
| LAURANCE H. NEAME | 1912 —1913 | ||
| ALFRED DOBELL | 1914- 1915 | ||
| SIR BIGNELL G. ELLIOTT KeE JP... . . | 1916- 1917 | ||
| ARTHUR C. MAY | 1918 | ||
| H. G. NUTMAN | 1919- 1920 | ||
| SIR KEITH W. PRICE | 1921 - 1922 | ||
| DOUGLAS CLAYTON | 1923 - 1924 | ||
| H. F. BUCKLAND | 1925 - 1926 | ||
| NORMAN A. WRIGHT. |
1927 - 1928 | ||
| ERNEST W. H. Beaton | . | 1929 - 1930 | |
| HERBERT Geo. SHARP | 1931 - 1932 | ||
| E.LOCKS LATHAM | 1933 —1934 | ||
| H. R.WOODBURN - BAMBERGER | 1935 | ||
| ERNEST C. HORTON | oeE. | 1936- 1937 | |
| H. CYRIL DAVID | 1938 | ||
| SIRGERALD LENANTON | 1939 | ||
| E. P.TETSALL | 1940 - 1941 | ||
| HUBERT B.ELLIOTT | 1942 - 1943 | ||
| Jas L.CRAWFORD. | 1944 - 1945 | ||
| HUGH S.LEARY | 1946 - 1947 | ||
| Wm. B.MITCHELL | 1948 —1949 | ||
| STANLEY C. LONGHURST | ceEJp. | 1950 | |
| J.L. BAYNES ceE | 1951 | ||
| WILLIAM BURNS | 1952 | ||
| Chas. I. PERKINS | 1953 | ||
| H. NORMAN SADD |
1954 | ||
| A. COLIN C. DARBY Mc | 1955 | ||
| CLIFFORD B.NORTH | .. ...................... | 1956 | |
| STANLEY LLOYD. | 1957 | ||
| HUBERT LENANTON | 1958 | ||
| Wm. H. DRUMMOND. | . | 1959 | |
| HUBERT B.ELLIOTT | 1960 | ||
| DONALD E.WRIGHT | TDJP. | 1961 | |
| GEORGE C.HUGHES | 1962 | ||
| AUSTIN TAYLOR | 1963 | ||
| JOHN V. MURPHY. | 1964 |
| E. BRYAN LATHAM ceE MM eA..... | E. BRYAN LATHAM ceE MM eA..... | 1965 | |
|---|---|---|---|
| PERCY WISE FCA. | 1966 | ||
| CECIL D.WOODBURN | —BAMBERGER ceE ..... | 1967 | |
| COLONEL DONALD C. | BELLTD | .. | 1968 |
| R. DAVID MAY. | 1969 | ||
| BERNARD A. HILL | 1970 | ||
| DOUGLAS R.JENNINGS | 1971 - 1972 | ||
| DOUGLAS COCHRANE | 1973 | ||
| DAVID W. MITCHELL. | 1974 | ||
| A. W. BURNS | 1975 | ||
| W. JOHN ALSFORD | 1976 | ||
| NORMAN WELCH |
1977 | ||
| DAVID A.C.MONTGOMERY | 1978 | ||
| ROGER H. MASON. | 1979 | ||
| MALCOLM A. BENNIE | 1980 | ||
| CHRISTOPHER G.A. LATHAM | FCA | 1981 | |
| W. DENIS BUTLER. | 1982 | ||
| DOUGLAS R.JENNINGS | 1983 | ||
| TERENCE S.MALLINSON | 1984 - 1985 | ||
| ROSSS.H. BELLAMY TDAlwsc. | 1986 | ||
| PETER D. LLOYD | 1987 —1988 | ||
| RON LEWIS | 1989 - 1990 | ||
| GILBERTLEWIS | 1991 - 1992 | ||
| J.BARRY LEWIS | 1993 | ||
| JOHN O. HOULTON | 1994 | ||
| JEAN KLOOS | 1995 | ||
| RICHARD MIDDLETON. | 1996 | ||
| PAUL F. MURPHY | 1997 | ||
| IAN NORTH . | 1998 —1999 | ||
| J.BARRY LEWIS | 2000 - 2001 | ||
| BRIAN BAUCKHAM | 2002 | ||
| IAN MENZIES | 2003 -2004 | ||
| BARBARACARTWRIGHT. | 2005 - 2006 | ||
| RICHARD BAGNALL | 2007 —2008 | ||
| DAVID FRANCIS | 2009 - 2010 | ||
| DILWYN HOWELLS | 2011 - 2012 | ||
| MALCOLM COWLEY . | 2013 - 2014 | ||
| ROBERT BRUCE | 2015 - 2016 | ||
| IVAN L.SAVAGE | 2017 - 2018 | ||
| PAUL SNAPE | 2019 —2020 |
| Unrestricted Unrestricted |
Unrestricted Unrestricted |
||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2022 | 2021 | ||||
| Notes | 6 | E | |||
| Income from: | |||||
| Donations and legacies |
2 | 23,048 | 29,154 | ||
| Other fundraising | activities | 3 | 88,981 | 59,741 | |
| Investments | 4 | 96,233 | 81,978 | ||
| Total income | 208,262 | 170,873 | |||
| ~Edit | |||||
| Raising funds | 5 | 88,542 | 76,222 | ||
| Charitable activities |
6 | 222,985 | 201,100 | ||
| Total expenditure | 311,527 | 277,322 | |||
| Net gains/(losses) | on investments | 11 | (482,592) | 400,522 | |
| Net movement | in | funds | (585,857) | 294,073 | |
| Fund balances at | 1January 2022 | 3,851,449 | 3,557,376 | ||
| Fund balances at | 31December 2022 | 3,265,592 | 3,851,449 |
| 3 | Other fundraising | activities | |||
| 2022 | 2021 | ||||
| Newsletter income |
775 | 1,075 | |||
| Golf final day | 11,533 | ||||
| Regional events | 76,673 | 58,666 | |||
| 88,981 | 59,741 | ||||
| 4 | Investments | ||||
| 2022 | 2021 | ||||
| Dividends and interest on listed secudities |
87,250 | 76,604 | |||
| interest receivable | 8,983 | 5,374 | |||
| 96,233 | 81,978 | ||||
| 5 | Raising funds | ||||
| 2022 | 2021 | ||||
| Fundraisin and |
ublici | ||||
| Regional events | 42,992 | 37,156 | |||
| Golf final day | 3,961 | ||||
| Share ofgovernance | costs (see note 8) | 5,634 | 3,616 | ||
| Share ofsupport costs (see note 8) | 21,890 | 21,225 | |||
| Fundraising and publicity |
74,477 | 61,997 | |||
| Investment mana |
ement | 14,065 | 14,225 | ||
| 88,542 | 76,222 |
| 6 | Charitable activities |
|||
|---|---|---|---|---|
| 2022 | 2021 | |||
| 6 | 6 | |||
| Christmas gifts to beneficiaries |
31,246 | 30,432 | ||
| Allowances under rule 10 |
86,200 | 69,280 | ||
| TV licences &sets | 4,134 | 4,525 | ||
| Telephone allowances | 11,920 | 12,047 | ||
| Spring gifts to beneficiaries | 11,100 | 9,751 | ||
| Winter fuel grants | 38,000 | 29,400 | ||
| 182,600 | 155,435 | |||
| Grant funding ofactivities (see note 7) | 8,375 | 11'17 | ||
| Share ofsupport costs (see note 8) |
28,255 | 31,838 | ||
| Share ofgovernance | costs (see note 8) | 3,755 | 2,410 | |
| 222,985 | 201,100 | |||
| Analysis by fund |
||||
| Unrestricted funds |
222,985 | 201,100 | ||
| 222,985 | 201,100 | |||
| 7 | Grants payable | |||
| 2022 | 2021 | |||
| 6 | ||||
| Grants to individuals | 8,375 | 11,417 | ||
| 8,375 | 11,417 |
| 8 | Support costs | Support costs | |||||
|---|---|---|---|---|---|---|---|
| Support | Governance | 2022 | 2021 | Basisofallocation | |||
| CostS | Coats | ||||||
| 6 | 6 | 6 | 6 | ||||
| Staff costs | 60%Charitable, 40% | ||||||
| 32,000 | 32,000 | 32,000 | fundraising | ||||
| Depreciation | 60%charitable, 40% | ||||||
| 217 | 217 | 218 | fundraising | ||||
| Office costs | 60%Charitable, 40% | ||||||
| 12,502 | 12,502 | 11,355 | Fundraising | ||||
| Computer | costs | 60%Charitable, 40% | |||||
| 5,370 | 5,370 | 5,533 | fundraising | ||||
| Meeting and travel | 60%Charitable, 40% | ||||||
| expenses | 2,966 | 2,966 | 1,768 | fundraising | |||
| Generalexpenses | 60%Charitable, 40% | ||||||
| 595 | 595 | 2,090 | fundraising | ||||
| Bank charges | 60%Charitable, 40% | ||||||
| 124 | 124 | 99 | fundraising | ||||
| HMRC Refund | 60%Charitable, 40% | ||||||
| (3,629) | (3,629) | fundraising | |||||
| Audit fees | 6,989 | 6,989 | 6,026 | Governance | |||
| Legal and | professional | 2,400 | 2,400 | - | Governance | ||
| 50,145 | 9,389 | 59,534 | 59,089 | ||||
| Analysed | between | ||||||
| Fundraising | 21,890 | 5,634 | 27,524 | 24,841 | |||
| Charitable | activities | 28,255 | 3,755 | 32,010 | 34,248 | ||
| 50,145 | 9,389 | 59,534 | 59,089 |
| The average | monthly | monthly | number ofemployees | number ofemployees | number ofemployees | during the | year was: | |
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Number | Number | |||||||
| Total | ||||||||
| Employment | costs | 2022 | 2021 | |||||
| E | 6 | |||||||
| Wages and | salaries | 32,000 | 32,000 | |||||
| There were | no employees | whose annual | remuneration | was more than 660,000. | ||||
| Net gains/(losses) | on | investments | ||||||
| Unrestricted | Total | |||||||
| funds | ||||||||
| 2022 | 2021 | |||||||
| 6 | 6 | |||||||
| Revaluation | ofinvestments | (427,672) | 378,308 | |||||
| Gain/(loss) | on sale | of | investments | (54,920) | 22,214 | |||
| (482,592) | 400,522 |
| Usted | |
|---|---|
| Investments | |
| Cost orvaluation | |
| At 1January 2022 | 3,715,400 |
| Additions | 332,061 |
| Revaluation of investments |
(427,672) |
| Gain/(loss) ofinvestments |
(54,920) |
| Disposals | (498,321) |
| At31December 2022 | 3,066,548 |
| Carrying amount | |
| At 31December 2022 | 3,066,548 |
| At 31December 2021 | 3,715,400 |
| Creditors: amounts falling due within one year |
||
|---|---|---|
| 2022 | 2021 | |
| f | ||
| Other taxation and social security | 581 | 4,209 |
| Other creditors | 200 | 200 |
| Accruals and deferred income | 6,775 | 5,900 |
| 7,556 | 10,309 |
| 2022 | 2021 | |
|---|---|---|
| f | f | |
| Salary | 32,000 | 32,000 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f | f | |||
| Key | management | personnel | 7,000 | 7,000 |
| 7,000 | 7,000 |
| DETAILED INVESTMENT NOTE | DETAILED INVESTMENT NOTE | DETAILED INVESTMENT NOTE | |||
|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31DECEMBER2022 | |||||
| 13 Fixed asset investments | Market | Market | |||
| value | value | ||||
| 2022 | 2021 | ||||
| E | E | ||||
| British government securities |
|||||
| kk,kkk UK k.kk kk Ik kt k kkkk |
64,774 | ||||
| Property funds | |||||
| 47,000 Cordiant Digital Infrastructure Ltd Ord NPV |
39,668 | ||||
| 41,132 International Public Partnership Ord GBP0.0001 |
62,356 | 64,546 | |||
| (202137,968) | |||||
| 40,000 Jlen Environmental Assets Group Ltd Ord NPV |
48,000 | 42,000 | |||
| Mayfair Capital Investment MGM Ltd The Prop Charities GBP DIS |
INC Trust for | 40,580 | |||
| 4,000 Unite Group Ord GBP0.25 | 36,400 | 44,420 | |||
| 39,000 LXI REIT PLCOrd GBP0.01 | 43,914 | 56,550 | |||
| 28,000 Primary Health Properties PLC Ord .125 |
31,024 | 42,392 | |||
| 34,681 SDCL Energy Efficiency INC TSTPic Ord GBP0.01 | 33,467 | 40,750 | |||
| 24,000 Warehouse REIT Pic Ord GBP0.01 |
25,104 | 42,432 | |||
| Usted Industrial stocks and shares |
|||||
| 38,250 Aberdeen Standard FMS Ltd European Equity |
Instl Inc | 41,348 | 43,146 | ||
| 24,750 Aberdeen Standard FMs Ltd Asia Pacific Equity |
I Acc | 88,348 | 97,047 | ||
| 27,500 Alllanz Technology Trust PLC ORD GBP0.025 | 57,750 | 135,713 | |||
| (202138,500) | |||||
| 400 Alphabet Inc Cap USD0.001 |
29,415 | 42,747 | |||
| L | (202120) | ||||
| 1,300 Associated British Foods ORD 5 |
20,488 | 26,104 | |||
| 570 Astrateneca Ord Shares of0.25 USS |
63,943 | 49,465 | |||
| 3,400 Baillie Gifford Japan Trust Ord GBP0.05 | 25,874 | 33,422 | |||
| 1,500 Bank ofAmerica Corporation Com USD0.01 |
41,161 | ||||
| 10,000 Beazley pic Ordinary 5p shares |
46,630 | ||||
| 2,625 BHP Group PLC- Ordinary Shares of0.50 USDO | 67,463 | 57,737 | |||
| 7,000 Blackrock Throgmorton Tst PLCOrd GBP0.05 |
41,510 | 68,250 | |||
| 55,185 BNY Mellon Fund Managers Newton Asian Inc |
Inst Inc | 73,501 | 76,603 | ||
| 9,500 BPOrd Shares of0.25 USS | 31,398 | ||||
| 3,000 Compass Group PLC Ordinary GBP0.1105shares |
57,525 | 49,530 | |||
| 1,100 Cranswick ORD GBP0.10 |
33,858 | 40,722 | |||
| 1,550 Diageo Ordinary Shares GBX28.935185 | 56,575 | 62,558 | |||
| 220 Edgewood LSelect USSelect Growth I2 USD |
52,012 | 78,542 | |||
| 1,900 Experian PLCOrd Shares ofUSD0.10each |
53,447 | 69,008 | |||
| 1,074 Findlay Park Funds PLCAmerican GBP Hedged |
Dis | 82,706 | 107,604 |
| TIMBER TRADES' BENEVOLENT S | OCIETY | TI | MBER | TRADES' BENEVOLENT SOCIETY | TRADES' BENEVOLENT SOCIETY | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DETAILED INVESTMENT NOTE | DETAILED INVESTMENT NOTE | |||||||||||||
| FOR THE yEAR ENDED 32 DECEMBER | 2022 | FOR THE YEAR ENDED31DECEMBER2022 | ||||||||||||
| Market | Market | |||||||||||||
| 13 | Fixed asset investments (continued) |
value 2022 |
value 2021 |
13 Fixed asset investments | (continued) | Market value |
Market value |
|||||||
| E | E | 2022 | 2021 | |||||||||||
| E | E | |||||||||||||
| 7,250 | First Sentier Investments (UK) St Gbl Emg Markets Ldrs 8GBP Acc |
44,488 | 45,464 | 1,700 | RWE AG | NPV | 62,826 | 50,909 | ||||||
| 560 | Fulcrum UCITS SICAV Diversiged ABS RTN FGBP |
66,288 | ||||||||||||
| 18,500 (202123,000) 2,700 2,250 |
Fundsmith LLP Equity I Inc NAV Inst Herald Inv Trust Ord GBP0.25 Hill & Smith Ordinary Shares 25p each |
97,743 26,370 48,114 |
140,953 40,410 67,635 |
10,000 0 |
Standard Chartered PLC ORD USD0.50 Taiwan 5em Iconductor ManufacturIng5pon A05 Each Rep 50rd TWD10 |
62,240 34,571 |
44,840 | |||||||
| 56,000 | Janus Henderson Strategic Bond G DIS |
61,208 | 500 | Vanguard | Investment | Series Global Credit BD Investor GBP | 44,679 | 53,477 | ||||||
| 57,500 19,000 (202125,000) 75,000 13,000 60,000 20,398 27,500 |
JP Morgan Gbl Wmg Mkts IncTst PLC Ord shares ofGBP0.01 JP Morgan Asset Mgmt UK Ltd US Equity Inc CInv NAV Jupiter Unit Trust Managers Trust Managers Japan Income Legal &General Group Ord Shares of0.025p each Legal and General UTManagers Dynamic Bd Trust I Inc GBP LF Ruffer Investment Funds LF Ruffer Total Returnl DIS Link Fund Solutions Ltd Milton UK Multi Cap Inc 8 |
73,744 86,374 85523 32435 31,392 77,627 51,095 |
83,519 107,250 93338 38675 34,470 76,185 61,765 |
3,202 500 210 1,750 2,000 45,000 (202131,000) |
VIstry Group PLC GBP0.50 Vontobel Fund Twentyfour ABSTReturn Credit AQG GBP VISA Inc Com Stk USD0.0001'A' Whitbread ORD GBP0.10 Xtrackers ETC PLC Physical Gold ETCGBP HDG Vodafone Group Ord Shares of0.2095238 USS |
20029 47,520 36,168 44,975 44,040 37,908 |
37912 33,602 52,412 44,835 34,801 |
|||||||
| 18,300 1,150 |
Link Fund Solutions Ltd Trojan 5Inc NAV Lyxor USTIPS UCITS ETFMonthly Hedged D-GBP |
56,518 | 58,730 136,753 |
Total Market | Value | 3066548 | 3715400 | |||||||
| 12,671 | Melrose Industries PLCOrd GBP0.0686 |
20,261 | ||||||||||||
| 30,900 | Mercantile Investment Trust 25p Ord Shares |
82,967 | ||||||||||||
| 240 | Microsoft Corp Com USD 0.00000625 | 47,695 | 59,595 | |||||||||||
| 4,000 | NB Private Equity Partners Ltd Class A Ord Shs USD 0.01 |
64,000 | 111,000 | |||||||||||
| (20216,000) | ||||||||||||||
| 2,016 | National Grid Ordinary Shares GBPeach |
20,108 | 21,366 | |||||||||||
| 550 | Novartis AG CHF0.50(Regd) |
41,268 | 35,776 | |||||||||||
| 180 | Nvidia Corp Com USD0.001 | 21,800 | 39,101 | |||||||||||
| 950 | Persimmon GBP0.10Ord Shares |
11,562 | 27,132 | |||||||||||
| 8,500 | Polar Capital Funds Global Convertible | 65,790 | 72,930 | |||||||||||
| 900 | Rio Tinto PLC Ord Shares of10p each | 52,182 | 44,028 | |||||||||||
| 560 | Reckitt Benckiser Ord Shares of 10p each | 32,222 | 35,515 | |||||||||||
| 17,500 | Rotork Ord GBP0.005 | 53,655 | 62,510 |
| TRUSTEES | |||
|---|---|---|---|
| W. H. BEATON . . | .1897-1904 | ||
| SIRS.B.BOULTON BART |
.1897-1914 | ||
| E.G.PRICE | .1897-1922 | ||
| W. LT.FOY | .1905-1911 | ||
| C.T.F.CHURCHILL | .1912-1925 | ||
| L.H. NEAME | .1914-1924 | ||
| SIR KEITH W. PRICE | .1922-1956 | ||
| C.S.GORDON CLARK. | .1925-1943 | ||
| C.J.MORGAN | .1925-1929 | ||
| SIRWILLIAM J. MALLINSON | @mr | .1930-1944 | |
| HERBERTG.SHARP. | .1944-1956 | ||
| NORMAN A. WRIGHT | .1945-1959 | ||
| HUBERT B.ELLIOT. | .1957-1963 | ||
| STANLEY C.LONGHURST cacJp. | .1957-1971 | ||
| WILLIAM BURNS | 1960-1961 | ||
| DONALD E.WRIGHT mJp. | 1962-1992 | ||
| CLIFFORD B.NORTH. | 1963-1977 | ||
| GEORGE C. HUGHES | 1971-1982 | ||
| CECILD. WOODBURN-BAMBERGER csE. | 1978-1985 | ||
| CHRISTOPHER G.A. LATHAM | FCA .................. | 1982-1991 | |
| ROGER H. MASON. | 1985-1987 | ||
| A.W. BURNS | 1987-2005 | ||
| W. JOHN ALSFORD. | .... 1991-1995 | ||
| W. DENIS BUTLER | 1992-2006 | ||
| J.BARRY LEWIS | 1996-2012 | ||
| JOHN HUCKMAN | 2001-2011 | ||
| IAN NORTH. | 2004-2017 | ||
| IAN MENZIES | 2007-2018 | ||
| DAVID FRANCIS | .. ..2012- | ||
| RICHARD BAGNALL | ..2013- | ||
| BARBARA CARTWRIGHT | 2018- | ||
| ROBERT BRUCE | 2019 - 2022 |
TTBS TIMBER TRADES, BENEVOLENT socIErY