2021-04-05-accounts - The Beatrice Laing Trust

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TRUSTEES' REPORT
REPORT OF THE AUDITOR
STATEMENT OF FINANCIAL	ACTIVITIES
BALANCE SHEET
STATEMENT OF CASHFLOWS
NOTES TO THE FINANCIAL	STATEMENTS

Settlors		John Wggarn Laing -	deceased	deceased
		Beatrke Laing - deceased
Date of Deed		29September 1952
Trustees		SirJohn Martin Klrby	(sing
		David Eric Laing
		Christopher Maurice	Lalng
		Paula Joan Stephanle	Blacker
		Charles William David		Lalng
		Alexandra Catherine	Beatrice Jane Gregory
Registered	Address	c/o (sing Family Trusts
		33 gunne Lane
		Mill Hill
		London NW7 2DX
Nature ofTrust		Registered Charity No.		211884
Bankers		National Westminster		Bank Pic
		Edgware (6) Branch
		317Hale Lane
		Edgware
		Middlesex HAB 7AX
Accountants		TMF Global Services (UK) Ltd
		960Capabigty Green
		Luton
		Bedfordshlre LU1 3PE
Auditors		Mercer &Hole
		72 London Road
		StAlbans
		Herffordshlre AL1 1NS
investment	Advisors	Vermeer Partners
		130Jermyn Street
		London SW1Y4UR
Director		Miss EA Harley
		33Bonne Lane
		Mgl Hlg
		London NW7 2DX

C I d e &Youth Develo	C I d e &Youth Develo	ment	ment
Portland College
Redevelopment ofNewstart			Hall 8		Theaire		50,000
Mary Hare Foundation
New Primary School ond		Boarding			House		50,000
Home-Start UK
Crisis Appeal and post Could-19				development			25,000
Extern Northern Ireland
Roscor Youth Village							25,000
The Chellington Centre
New Admlnlslratlan	Offic			and	Camping	Facilities
(Shawersfrollefsj							25,000

Achievements
—cantlnued	ea tk edlcl e
	Sue Ryder Care
	South Oxfordshire Palliative	Core Hub
	StJohn Ambulance
	COVID-Jg Emergency Appeal
	Calvert Trust Exmoor
	Next steps - Reopening after	lockdown
	Chemwell Centre
	New Centre ofExcellence
	The Fifth Trust
	Redevelopment of Skills Centre
	Savannah Education Trust
	Construct(on ofa New Christian		Primary	School, Falu,
	Ghana
	Medair
	Nukiuon Services for Rahlngya		Refugees	ln
	Banglodesh
	Excellent Development
	Sand Dam Programme -Ethiopia
	aeelloB
	Greyklars Church, Reading
	Redevelopment Project
	Christians Against Poverty
	Church COVID Bursary Fund
	The Big Give
	CFFAwards /Big 6/ve Christmas		Challenge		- Match
	Fund
	St Philip's Church, Dorridge
	Construct(on of New Church	gi Community			Centre
	Emmanuel Church, Eastbourne
	New Church Building
	Tove Valley Baptist Fellowship
	New Tove Valley Centre
	St Philip &StJames' Church,	Leckhampton
	People ofPggrlmage Project	- Church Redevelopment
	St Marylebone Parish Church
	Chonglng lives Project —redevelopment			of	the crypt

				----Unrestricted	Funds—-		Total
			Restricted	Expendable		Total	Funds
			Fund	Endowment	Income	2021	2020
		Note	E	E	6	6	E
INCOME AND ENDOWMENTS
Investments		2a			2,151,139	2,151,139	2,605340
Donations and leEacles		2b	186,750			186,750	138,000
TOTAL INCOME			186,750		2,151,139	2,337,889	2,743,340
EXPENDITURE
Cost of raisinS funds		3		201,225		201,225	61,892
Charitable activities		4	181,250		2,649,141	2,830,391	2,279,285
TOTAL EXPENDITURE			181,250	201,225	2,649,141	3,031,616	2,341,177
NET INCOME/(EXPENDITURE)	BEFORE
GAINS AND LOSSES ON INVESTMENTS			5,500	(201,225)	(498,002)	(693,727)	402,163
OTHER RECOGNISED GAINS AND LOSSES
Net Ealns/(losses) on Investments		11		11,658,625		11,658,625	(10,180,457)
NET INCOME/(EXPENDITURE)	AFTER
GAINS AND LOSSES ON INVESTMENTS			5,500	11,457,400	(498,002)	10,964,898	(9,778,294)
NET MOVEMENT IN FUNDS			5,500	11,457,400	(498,002)	10,964,898	(9,778,294)
FUND BALANCES BROUGHT FORWARD				51,126,767	7,273,302	58,400,069	68,178,363
FUND BALANCES CARRIED FORWARD			5,500	62,584,167	6,775,300	69,364,967	58,400,069

			2021	2020
		Note
FIXED ASSETS
Investments		11	68,552,704	54,082,536
			68,552,704	54,082,536
CURRENT ASSETS
Debtors		12		5,338
Cash at bank		13	880,212	4,368,622
			880,212	4,373,960
LIABILITIES:amounts	felling due within one year	14	(67,949)	(56,427)
NET CURRENT ASSETS			812,263	4,317,533
TOTAL ASSETS LESS	CURRENT LIABILITIES		69,364,967	58,400,069
Representing:
UNRESTRICTED FUNDS
Expendable endowment		15	62,584,167	51,126,767
Income Account		15	6,775,300	7,273,302
RESTRICIED FUND		15	5,500
			69,364,967	58,400,069

						2021	2020
					Note	6	6
Cash flows from operating	activities:
Net cash provided by (used In) operating				activities	17	(2,828,006)	(2,184,519)
Cash flows from Investing	activities:
Investment Income						2,151,139	2,605,340
Proceeds from sale of Investments						10,689,864	4,608,779
Purchase of Investments						(14,432,749)	(6,034,349)
Net cash provided by (used In) Investing			activities			(1,591,746)	1,179,770
Change in cash and cash equivalents		In the year				(4,419,752)	(1,004,749)
Cash and cash equivalents	at the beginning			ofthe year		5,550,440	6,555,189
Cash and cash equivalents	atthe end	of	the year			1,130,688	5,550,440
Represented by:
Cash held within the Investment portfolio					11	250,476	1,181,818
Cash at bank					13	880,212	4,368,622
						1,130,68S	5,550,440

a) Investment	Income		Unquoted
			investment
			Trustees'	Quoted	Total	Total
			Names	Investments	2021	2020
			E		6
UK investments			326,051	1,095,396	1,421,447	1,837,977
Overseaslnvestments				820,761	820,761	845,761
			326,051	1,916,157	2,242,208	2,683,738
Less: non-recoverable		and overseas tax		(93,668)	(93,668)	(96,435)
			326,051	1,822,489	2,148,540	2,587,303
Interest on cash	deposit				2,599	18,037
					2,151,139	2,805,340

2021	2020
E	E
201,225	61,892

and Individual	s in further	ance of	its charitable ob	jectives.
					Total	Total
					2021	2020
					E	E
Grant funded	activity		- Out ofrestricted funds		181,250	143,500
			- Out ofincome funds		2,546,612	2,020,860
Support and	governance	costs	—Charitable	Activities	79,840	91,234
			- Governance	costs	22,689	23,691
					2,830,391	2,279,285

ALLOCATION	OF GOVERNANCE AND SUP	PORT COSTS	PORT COSTS
		2021		2020
		Charitable		Charitable
		Activities	Governance	Activities	Governance
		6	E	E	6
Audit fee			4,080		4,056
Accountancy	fees		9,715		9,498
Maintenance	costs	2,151	239	2,883	320
Employment	costs	68,631	7,626	66,437	7,382
Administration	and computer costs	9,058	1,029	21,914	2,435
		79,840	22,689	91,234	23,691

Africa Inland Mission International	Africa Inland Mission International	Africa Inland Mission International	2,500
All Saints Church Roos PCC			2,500
All Saints Church, Great Oakley			2,500
All Saints Church, Hoo Peninsula			4,000
AB Saints Church, Laughton			2,500
Bagdon Methodist Church			2,500
Ballaffray Parish Church			2,000
Banbrldge Egm Pentecostal Church			1,000
Belhelvie Church ofScotland, Aberdeen			4,000
Bethel Evangegcal Church, Otley			2,500
Bethesda Baptist Church, Narbeth			4,000
Borehamwood Baptist Church			2,000
Christ Church, Creekmoor			3,000
Christ Church, New Mill			4,000
Church ofSt Botolph &StJohn	the Baptist, Croxton Kerrlal		2,000
Coleford Baptist Church			1,000
Comberton Bapust Church			2,500
Connected Ministries			2,000
Culcheth Methodist Church			1,000
Dyke & Edinkglle Parish Church	ofScotland		2,500
Emmanuel Methodist Church,	Barnsley		2,000
Granton Parish Church			2,000
Gravesend Methodist Church			2,000
Greenhgl Methodist Church, ShefReld			2,500
Highgate United Reformed Church			2,000
Holy Trinity Church, Idle			500
Klngton St Michael Church			2,500
Leslle Baptist Church			4,000
Make Jesus Known			2,500
Peasedown StJohn Methodist	Church		2,000
Reeth Evangegcal Congregational		Church	2,000
Rock Christian Centre			2,000
Rutherglen West &Wardlawhlll		Parish Church	1,000
Sidley Baptist Church			2,000
South Hams Christian Fellowship			2,000

StAndrew's Church, Shrivenham					2,500
St Andrew's Church, Taunton					2,000
St Bamabas' Church, Crawley					2,500
StRam abas Church, Lenton Abbey					2,500
StBartholomew's Church, Binley,			Coventry		2,000
St Bartholomew's Church, Tong					2,500
St Botolph's Church, Burton Hastings					2,500
StCatherine's Church, Ludham					2,500
St Helen's Church, Northwich					2,500
St James the Great, Longburton					2,500
StJohn's Church, Wimborne					2,500
StJohn's Methodist Church, Parkfield					3,000
St Katharine's Church, Irchester					2,500
St Luclus Church, Farnley Tyas					2,500
St Martin with StTorney Church,		Lewannlck			2,500
St Mary &StBotolph Church, Whitton					2,500
St Mary the Virgin Church, Great		Brickhlll			4,000
St Mary's Church, Bentley					2,500
St Mary's Church, White Waltham					1,000
St Michael &All Angels Church,	Northern			Moor	4,750
St Michael's &All Angels Church,		Thurmaston			2,500
St Michael's &St Luke's Church,	Beccles				2,000
St Nicholas Church, Churchstoke					2,500
StPetefs Church, Bentley					1,500
St Peter's Church, Withlngton					2,000
St Petroc's Church					2,500
St Phgip's Church, Kelsall					2,500
St Richard's Church Centre, Kltts	Green				2,500
StThomas 4 Becket Church, Warbllngton					4,000
StThomas the Martyr Church, Up			Holland		2,000
St.Michael's Church, Myland					2,000
Stamford Methodist Church					2,000
Stour Valley Vineyard Church					1,000
Sydenham Methodist Church, Belfast					2,000
The Church ofthe Venerable Bede, Newcastle					2,500
Trinity Church, Ablngdon					3,000
Upton Baptist Church					2,000
Urban Church					2,000
Wellingborough United Reformed			Church		2,000
Wesley's Chapel &Leyslan Mission					1,000
Woklng United Reformed Church					2,500
Yapton Free Church					2500
					181,250

ANALYSI	S OF CHARITABLE EXPENDITURE OUT	OF INCOME FUNDS
			2021		2020
		No	f	No	E
Cultural	&Environmental	1	5,000
Education &Youth Development		36	326,500	29	224,670
Health, Welfare &Dlsabgity		37	351,500	43	335,750
Overseas	Development	34	323,650	27	187,080
Religion	&Church Bugdlng Projects	88	767,072	67	631,000
Social Welfare &Community		80	775,890	78	631,860
		276	2,549,612	244	2,010,360
Charities	Aid Foundation			2	10,500
Grant written back			(3,000)
		276	2,546,612	246	2,020,860

u ture Envlrma
The Watson Hall			5,000
auth Dev
IIST)Childhood First			15,000
Abbey Court School Trust			6,000
Ambitious about Autism			10,000
Barnstondale Centre			2,000
Cargsle Youth Zone			10,000
Children's Trust			5,000
Extern Northern Ireland			25,000
Friends ofManor Ivlead School			1,000
Greater Manchester Youth Network			5,000
Grief Encounter			2,500
Home-Start Gugdford			6,000
Home-Start UK			25,000
I CAN			5,000
Kids on Track			2,000
Londonderry YMCA Ltd			6,000
Mary Hare Foundation			50,000
Pear Tree Special School Trust			2,500
Portesbery Partnerships			2,000
Portland College			S0,000
Royal National Chgdren's	Springboard	Foundation	5,000
Royal National College for the Blind			5,000
Ruskin Mill Land Trust			5,000
StMari/s School, Bexhgl			2,500
Step by Step			10,000
Step by step school			10,000
The Exodus Project			2,000
The Shagowford Trust			10,000
The Souster Youth Trust			5,000
Training Ship Broadsword	Sea Training	Corps	5,000
Transitions UK			10,000
Twenty Twenty			5,000

ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued	ANALYSIS OF CHARITABLE EXPENDITURE OUT OF INCOME FUNDS-continued
Educe
Valley Kids									5,000
Walton Leigh Parent			Staff		Association				2,000
YKids									5,000
Young Gloucestershlre									5,000
Youth Options									5,000
									326,500
ealth Welfare	&	Disablllt
Calvert Trust Exmoor									25,000
Chamweg Centre									25,000
Circle of Support	for		Autism Families						2,500
Deafbllnd UK									10,000
DEMAND									20,000
Deslgnabglty									20,000
Dlsabgity Chagengers									5,000
Diverse Abilities									2,000
Epiphany Trust									5,000
Independence at Home									5,000
Leeds Mencap									5,000
Linkage Community			Trust						3,000
Martha Trust									2,000
My Ufe My Choice									2,500
National Autistic	Society								7,500
Normandy Community				Therapy			Garden		2,000
Oakfield (Easton	Maudlti				Ltd				2,500
Queen Elizabeths	Foundation					for Disabled People			10,000
Scottish Autism									2,000
SeeSaw									5,000
SENSE									15,000
SERVE									2.500
Sheffield Mencap	and Gateway								2,500
SNAP									2,000
StJohn Ambulance									25,000
StJoseph's School,		Cranlelgh							10,000
StVincent de Paul		Society			IEngland			&Wales)	3,500
Stockdales ofSale,		Altrincham					&District Limited		10,000
Starts Community		Trust							10,000
Sue Ryder Care									50,000
The Bevern Trust									5,000
The Fifth Trust									25,000
The Kepplewray	Trust								5,000
The Sequel Trust									2,500
Uplands Enterprise		Trust							2,500
YMCA East Surrey									10,000
Young Minds Trust									10,000
									351,500

APT Action on Poverty					5,000
Cecily's Fund					10,000
DeafReach (2 grants)					6,000
Deafway					3,000
East African Character Development				Trust	S,DDD
Engineering Ministries	international			UK	5,000
Excegent Development					25,000
FARM Africa					20,000
Five Talents					5,000
Footsteps International(2		grants)			15,000
Health Poverty Action					5,000
Himalayan Trust UK (2grants)					21,000
Hospice Care Kenya					5,000
IMPACT Foundation					14,000
Inter Care					5,000
M adair					25,000
Mustard Seed Project (Kenya)					20,000
ORBIS					10,000
Right to Play					5,000
Savannah Education Trust					26,000
Sense InternaVonal					22,500
Spotgght on Africa					5,000
The Busoga Trust					5,400
The Henry van Straubenzee			Memorial	Fund	9,750
The Virtual Doctors					10,000
Traldcraft Exchange (2grants)					12,500
UgandAld					12,500
Vglage Water					5,000
World Medical Fund					2,000
Zambia Orphans Aid UK
					323,650
ReB lou&0 u 6
57West					2,000
All Saints Church, Chelsworth					5,000
All Saints Church, Hove					5,000
All Saints Church, Rayne					5,000
Ag Saints Church, Wlnterton					5,000
AB Saints Episcopal Church,			Gretna		8,000
AB Souls Church, Eastbourne					5,000
Batheaston New Village	Hall				7,500
Bethel Community Church,		Newport			5,000
Bethshan North East					5,000
Beulah Baptist Church,	Bexhgl				5,000
Broadmead Baptist Church					5,000
Calrnlea Parish Church ofScotland					5,000
Carnforth Free Methodist		Church			20,000
Crowthome Baptist Church					10,000
Didcot Baptist Church					6,000
Diocese ofStAsaph					10,000

Reg lon
Emmanuel Church, Eastboume			30,000
Emmanuel Church, Woodley			5,000
Emmanuel Group ofChurches			5,00D
Freeschool Court Evangelical Church,		Brldgend	20,000
Glenwood Church, Cardif			10,000
Greenhill Methodist Church, Sheffleld			7,500
Greyfrlars Church, Reading			50,000
Holy Trinity Church, Hazlemere			10,000
Hope Church ipswlch			5,0IM
Hope Church, Worcester			10,000
Hope Methodist Church, Fallsworth			5,000
Hope Methodist Church, Higham	Ferrers		20,000
Huntingdon Methodist Church			5,000
Kirkcaldy Congregational Church			5,000
Marshalswick Baptist Free Church			5,000
Mrs P Roberts			1,000
Nations Trust			4,250
New Life Community Church			4,500
Newport Pagnell URC			10,000
Portishead Methodist Church			5,000
River of Life Community Church			4,000
Rivergreen Cgfton Methodist Church			5,000
She pshed Word of Ufe Church			5,000
StAndrew &St Nicholas Church,	Glasgow		5,000
St Andrew's Church, Carlton			5,000
StAndrew's Presbyterian Church,	Bangor		5,000
StAnne's Church, Algburth			5,000
St Barnabas Church, Woodside Park			10,000
St Bartholomew's Church, Cross in Hand			5,000
St Botolph's Church, Boston			S,DDD
St Columba's Free Church ofScotland			5,000
StGermaln's Church, Edgbaston			5,000
St Hilda's Church, Klrkleatham			5,000
St Ives Methodist Church			5,000
St Luke's Church, Holbeck			1,000
St Margaret the Queen Church, Streatham			7,500
St Mary the Virgin Church, Far Cotton			5,000
St Marylebone Parish Church			25,000
St Mary's Church, Bldeford			5,000
StMary's Church, Watford			5,000
StMary's Church, Wivenhoe			5,000
St Mary's Church, Cowes			15,000
St Michael's Church, Church Stowe			5,000
St Nicholas Church, Stretton			5,000
St Nicolas Church, North Stoneham			5,000
St Paul's Church ireland Wood			5,000
St Paul's Church, Chlchester			5,000
St Paul's Church, New port			10,000
St Peter &.StPaul's Church, Uttle	Gaddesden		5,000
St Peter &StPaul's Church, Saltwood			5,000
St Philip &StJames' Church, Leckhampton			25,000
St Phigp's Church, Dorrldge			30,000

Reg lon C urchgug In Pro acts-co	Reg lon C urchgug In Pro acts-co	d
StThomas Church, Lancaster			10,000
StThomas's Church, Kilnhurst			5,000
St Wgfrld's Church, Grappenhall			6,500
St. Phglps Church, Webheath			5,000
Strathmore Road Methodist	Church, Rowlands	Glg	5,000
Syke Methodist Church, Rochdale			5,000
The Big Give			42,322
The Chegington Centre			25,000
The High Street Centre Ltd			5,MO
The Priory Church ofStMary,	South Queensferry		5,000
The Vineyard Community Centre, Richmond			2,500
Tave Valley Baptist Fellowship			25,000
Transform Northwest Network			5,000
Trinity Methodist Church, South Elmsall			5,000
Tunbrldge Wells Baptist Church			5,000
Urban Crofters Church, Cardiff			5,000
Wellspring Church Wirksworth			7,500
Wesley Memorial Methodist Church, Oxford Worcester Park Baptist Church			5,000 «20 000
			767,072
SoclalW fa C munl
291Community Association	(CIO)		2,000
700Club			5,000
9Uves Furniture			5,500
Abbeyfleld (Reading) Society			3,000
Active & In Touch Frome			5,000
Admaston House Community	Centre Trust		2,000
Age UK Heme Bay &Whltstable			10,000
Age UK Hythe &Lyminge			5,000
Age UK Leicester Shire & Rutland			2,500
Ashford Place			5,040
Aspire Oxfordshire			10,000
Azalea			5,000
Bedford Guild House			2,500
Bethany Christian Trust			5,000
C2CSocial Action			7,500
Cathedral Archer Project			3,000
Christians Against Poverty			50,000
Cleveland Housing Advice Centre			1,000
Daventry Contact			5,000
Daylight Centre Fellowship			5,000
Emmaus Dover			5,000
Emmaus UK			25,000
Faithworks Wessex			5,000
Feeding Bristol			5,000
Freedom from Torture			5,000
Fresh Start (Scotland)			5,000
Glass Door Homeless Charity			5,000
Grace Organisatlon (2grants)			6,000
Herffordshlre Community Foundation			2S,000
Hope Into Action: Reading			5,000

ANALYSIS OF CHARITABLE	ANALYSIS OF CHARITABLE	EXPENDITURE OUT OF INCOME FUNDS -continued	EXPENDITURE OUT OF INCOME FUNDS -continued	EXPENDITURE OUT OF INCOME FUNDS -continued	EXPENDITURE OUT OF INCOME FUNDS -continued
S elW fa &Co		I	-con Inued
Housing Justice						30,000
Huggard						2,000
InHope (Bristol) Limited						7,500
Jimmy's Cambridge						5,000
John Trotter Trust						5,000
Uvablgty						100,000
Lorica Trust						20,000
NEPACS						5,000
New Life Wood						2,500
Noah Enterprise						5,000
Northamptonshlre Community			Foun	dation		10,000
Open Door Exmouth						5,000
Pecan						5,000
Prisoners' Education Trust						5,000
Queen Victoria Seamen's		Rest				10,000
RAW Workshop						10,000
Refuge						250
Refugee Support Network						20,000
Renewed Hope Trust						2,000
retaBTrust						7,500
Roundabout						5,000
Sandhurst Day Centre						2,000
Sexey's Hospital						2,500
Spencer Contact						5,000
SpltalfleldsCrypt Trust						19,600
St Petrocs						11,000
StVincent de Paul Society		(England &			Wales)	2,000
Stoneplgow
Thames Valley Partnership						25,000
The Abbeyfleld Society						20,MO
The Chgterns Dial-a-Ride						5,000
The Good Loaf						10,000
The Hardman Trust						5,000
The Manna Society						3,000
The Oasis Centre, Gorton						10,000
The Reading Agency						5,000
The Reculver Trust						40,000
The Shrewsbury Ark						3,000
Trinity Winchester						25,MO
Via Wings						5,000
Wadebrldge Foodbank	&	Storehouse				5,000
West Hampstead Women's Centre						4,000
Westflaid Community	Development			Assodatlon		1,000
Wlrral Churches' Ark Project						5,000
YMCA Bolton						35,000
YMCA Boumemouth						5,000
YMCA Cornwag						3,000
YMCA Southend-on-Sea						20,000
Youth Concern Aylesbury						5,000
						775,890

ANALYSIS OF	CHARITABLE EXPENDITURE OUT OF INCOME FUNDS -continued
TOTAL GRANTS BYCATEGORY		2,549,612
Grant written	back	(3,000
		2,546,612

detailed belo	w:
			2020/21	2021/22	2022/23	2023/24
			F.	6	E	E
Commitments	brought forward at 6Aprg 2020		262,500	67,500	7,500
Commitments	made during	the year		167,000	71,000	11,000
Commitments	paid during	the year	(232,500)
Commitments	outstanding	during the year	(30,000)	30,000
Commitments	carried forward at 5April 2021			264,50D	78,500	11,000

FIXEDASS	ET INVE	STMENTS
					Cash held
					within the
					investment		Total
			Usted	Ungsted	porffollo	Total	2020
			E	E	E	6	E
Market value at 5		April 2020	44,928,858	7,971,860	1,181,818	54,082,536	64,279,920
Disposal proceeds			(10,689,864)			(10,689,864)	(4,608,779)
Add: acquisitions		at cost	14,432,749			14,432,749	6,034,349
Investment	gains		11,596,264	62,361		11,658,625	(10,180,457)
Movement	ofcash				(931,342)	(931,342)	(1,442,497)
Market value at 5		Aprg 2021	60,268,007	8,034,221	250,476	68,552,704	54,082,536
Investment	assets	in the UK	33,789,273	8,034,221	250,476	42,073,970	36,791,190
Investment	assets	outside the UK	26,478,734			26,478,734	17,291,346
			60,268,007	8,034,221	250,476	68,552,704	54,082,536
Historical	cost at
-5 April 2021			43,264,234	3,590,925		46,855,159
-5Aprg 2020			37,456,516	3,590,925		41,047,441

The following i	nves	tment	s comprise more than	55Softhe value ofthe portfolio at 5 April 2021.
					Market
Investments				Holding	Value
					F.
Eskmulr Properties		Ltd		508,476ordinary shares ofEl	4,271,198
The Diversified	Property		Fund for Charities	2,874,731 units	3,763,023

						2021	2020
						E	E
	Related party	debtors					5,338
	The funds were due from the charitable			trusts named	ln note S.
13.	CASH AT BANK
						2021	2020
						6	E
	Stockbrokers	Income account				63,264	67,681
	Bank account					816,948	4,300,941
						880,212	4,368,622
14.	LIABILITIES:AMOUNTS		FALLING DUE WITHIN ONE YEAR
						2021	2020
						E	E
	Investment managers fees					54,154	42,873
	Accruals - professional		fees			13,795	13,554
						67,949	56,427

FUNDS
		—Unrestricted	Funds—
	Restricted	Expendable		Total	Total
	Funds	Endowment	Income	2021	2020
	E	6	6	E	E
Comprise the fogowlng:
- Investments		68,552,704		68,552,704	54,082,536
- Cash	5,500	(5,914,383)	6,789,095	880,212	4,368,622
- Creditors		(54,154)	(13,795)	(67,949)	(56,427)
- Debtors					5,338
	5,500	62,584,167	6,775,300	69,364,967	58,400,069

						2021	2020
						6	6
Net movement in	funds (as per the	statement		of	Financial Activities)	10,964,898	(9,778,294)
(Gains)/losses on	Investments shown		in investing		activities	(11,658,625)	10,180,457
Deduct Investment	Income shown	in	investing	activities		(2,151,139)	(2,605,340)
Increase/(decrease)	in creditors					11,522	23,996
(Increase)/decrease	in debtors					5,338	(5,338)
						(2,828,006)	(2,184,519)