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|The Trustees|have continued|have continued|to|assess the major risks to which the charity
is exposed, particularly
those relating|assess the major risks to which the charity
is exposed, particularly
those relating|to|
|---|---|---|---|---|---|---|
|its operation|and finances,||and|to implement
appropriate
risk management
strategies
to manage those risks.||A|
|formal risk register||is maintained||and|is reviewed
at each Trustee meeting.||
|The principal|risks faced by the Fund||||and the control and mitigation
measures
put in place to manage those risks|are|
|as follows;|||||||
||||||Continue
annual
review ofinvestment
strategy.||
||||||Maintain
diversified
portfolio and relevant
risk level.||
|Fall in investment||value|||Use Independent
Financial Advisor to assist Trustees
in setting investment||
||||||polic
and monitoring
erformance
offund managers.||
|Potential
claimants||are not|aware||Put in place a programme
ofpromotional
and marketing
activity.
Track
claimant
levels and type at each Trustee meeting.
Reach out to Institution|of|
|ofthe fund|or how it can help||||Chemical
Engineers for assistance
with raising the Fund's profile with its||
||||||members.||
|Lack ofvolunteers||to visit|||Engage with IChemE's local boards and regional groups to seek volunteers|to|
|beneficiaries|||||assist the Trustees.||
||||||Robust application
procedures
in place to enable Trustees to assess claims||
|Inability to assess||overseas|claims||remotely.
Where possible work with local Boards and regional groups ofthe
Institution
of Chemical Engineers, or with other local bodies to seek local||
||||||volunteers
where
ossibleto visit/assess
claims locall
.||
|Applications|take|too long|to||Track the progress ofeach claim and review at each Board meeting.
Risk
checklist
in place to ensure the right information
is obtained
from claimants||
|process|||||before consideration
by the Trustees.||
|The Trustees|are satisfied that|||reasonable
steps are being taken to limit the probability
and the impact of risk.|||
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||||Note|Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||Funds|Funds|
|||||2020|2019|
|||||E|E|
|INCOME||||||
|Donations
and legacies|||2|73,041|53,974|
|Investment
income||||9,383|10,651|
|TOTAL INCOME||||82,424|64,625|
|EXPENDITURE ON||||||
|Investment
manager's|fees and costs|||(6,198)|(5,851)|
|Charitable
activities:||||||
|Payments to beneficiaries||||(59,612)|(9,006)|
|Other||||(13,312)|(7,663)|
|TOTAL EXPENDITURE||||(79,122)|(22,520)|
|Net gains on investment||assets||33,022|57,452|
|Net Income||||36,324|99,557|
|Other recognised
gains|/|(losses)||||
|Net movement
in funds||||36,324|99,557|
|Fund balances brought|forward at 1January|||793,734|694,177|
|Fund balances carried|forward at31December|||830,058|793,734|
##
|||||2020|2019|
|---|---|---|---|---|---|
|||||6|6|
|Fixed assets:||||||
|Investments|||6|729,312|693,108|
|Current assets:||||||
|Debtors||||45,459|46,386|
|Cash at bank|and in|hand||57,307|54,240|
|||||102,766|100,626|
|Creditors: Amounts||falling due within one year||(2,020)||
|Net current|assets|||100,746|100,626|
|Total assets|less current liabilities|||830I058|793,734|
|Represented|by:|||||
|Unrestricted|funds|||830,058|793,734|
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|2|Income from donations|Income from donations|Income from donations|and legacies|||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||f|f|
|Donations|||||51,S98|53,522|
|Gift Aid|||||143|452|
|Legacies|||||21,00D||
||||||73,041|53,974|
|3|Investment|income|||||
||||||2020|2019|
||||||f|f|
|Interest receivable|||||3|6|
|Dividends|receivable||||9,380|10,645|
||||||9,3SB|10,651|
|4|Payments to beneficiaries||||||
||||||2020|2019|
||||||f|f|
|Grants
awarded to Individuals|||in the year||59,612|9,006|
|5|Other costs||||||
||||||2020|2019|
||||||f|f|
|Support casts:
Staff support
Services for beneficiaries|||||5,941
3,360|5,985|
|Othercosts|||||2211|1,277|
|Governance costs:|||||||
|Trustee meetings
Independent
Examination||Fees|||1,800|401|
||||||13,312|7,663|
##
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|Fixed asset investments|||
|---|---|---|
||2020|2019|
||6|f|
|Market value at1January|693,108|630,862|
|Acquisitions at cost|9,380|10,645|
|Disposals at cost|(6,198)|(5,851)|
|Net gain on revaluation|33,022|57,452|
|Market value at31December|729,312|693,108|
|Historical cost at31December|576,749|573,566|
|Jr|Debtors||||
|---|---|---|---|---|
||||2020|2019|
||||f|f|
|Amounts
dua within one year:
Amounts
due from related party
Other debtors|||5,659|10,257
129|
||||5,659|10,386|
|Amounts
Unsecured|due after one year:
loans to beneficiaries||39,800|36,000|
||||45,459|46,386|
|8|Creditors: amounts|falling due within one year|||
||||2020|2019|
||||f|f|
|Accruals|||1,800||
|Other Creditors|||220||
||||2,020||
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