## **DCM HOLLINGTON TRUST** **A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL** **ANNUAL REPORT AND ACCOUNTS YEAR ENDED - 5[TH] APRIL, 2021** **COMPANY REGISTRATION NO: 249280 CHARITY REGISTRATION NO: 233862** **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** The Trustees present their annual report and the accounts of the Charitable company for the year ended 5th April 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The accounts comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). ## **CHAIRMAN'S STATEMENT for the year ended 5[th] April 2021** There are two charitable companies involved with the Hollington Club. DCM Hollington Trust is the owner of the Club premises and holds the endowment which assists in providing funds for the Hollington Club. The Club was founded at the end of the 19th century as the College Mission and set up as a separate company a few years ago to facilitate grant applications and funding from outside bodies. The Club committee manages the day to day running of the premises and the youth club which provides educational sporting and social facilities for both boys and girls in Camberwell and for the benefit of the local community. It is open to all young people and benefits for the continued support of the College and Trust. Moneys donated or covenanted to the Trust are used in assisting to support the Club. ## **THE NATURE OF THE TRUST** The Trust owns the Club’s premises in Camberwell as well as a portfolio of investments built up from the College Mission collections and from O.A. donations and legacies. This has enabled the Trust to continue grants to the Club. Grants to the Club from dividend income, donations and from the sale of some investments have continued this year. Peter Lyon OA (53/61) now manages our funds working alongside Roger Walker OA (51/58) Chairman. The endowment has been shrinking markedly over the last few years and the income generated has had to be supplement with regular injections of capital, and it has become clear that the Trust would cease to be able to continue making sufficient grants to keep the Club afloat in the near future. As the result of a detailed study it was decided to redevelop the site which was no longer “fit for purpose” together with the purchase of a parcel of land currently owned by Southwark Council. A developer has been appointed and it is envisaged that a new youth club/community centre on the ground floor over which residential apartments including some “affordable housing” will be built to ensure the ongoing running of the centre by the Club. The Trust will retain the freehold and gain a capital sum to recapitalise the depleted funds. As I write it is expected that the Planning Application will finally be submitted in the near future. It is hoped that this application will be favourably looked on which will enable the current building to be demolished and the new build be commenced in early 2022. The build will take approximately one and half to two years. But as soon as the building is weather tight the fit out of the Club area will be started. We have appointed a professional company with expertise of fit out and the running of a Youth Club and Community Centre to assist us. ## **REPORT FROM THE HOLLINGTON CLUB** _The Hollington Youth Centre aims to build positive relationships in a safe environment; “to encourage learning and development through activities and experiences”._ The Club was closed in view of the proposed redevelopment in the summer of 2017. The Rev. Jonathan Roberts, the local vicar and experienced youth leader was appointed Chairman to prepare and lead the new club initiative. A new management structure is being considered and ways of making the Club self-financing and fully utilised for the benefit of the youth and local community. The Club is working closely with the Trust to ensure that these clear objectives are reached. ____________________________________________________________________________________ 1 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** ## **LINKS WITH THE COLLEGE** The Trust is run by a committee of OA’s together with active support of The Master and his colleagues. A new initiative is in place to re-engage with both the boys and OAs to ensure the links continue and flourish in the future. ## **THANKS** Finally I wish to thank all members of both Boards and all the Club’s dedicated staff and helpers including the College staff who willingly contribute to the ideals of our Founder. I am pleased to advise that Duncan Anderson will be rejoining the Board. We thank all OA subscribers and those who donate at dinners and other OA events, on whose subscriptions we recover Gift Aid. A list of subscribers will be found on the cover of this report. We encourage OAs to include a legacy for the Trust in their Wills or make annual donations. I specifically would like to recognise Mrs EEM Webster, the donor of a substantial legacy received this year in memory of Alexander Gordon Moffat Webster OA. ## **R H Walker OA (51-58)** **Chairman 12[th] November 2021** ____________________________________________________________________________________ ____________________________________________________________________________________ 2 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** ## **OBJECTIVES AND ACTIVITIES** The Charity was formed as a school mission by Dulwich College in 1893 with the aims of supporting a club for young people, known as The Hollington Club. The Charity operates with close connections with the school and its old boys. The principal activity of the Charity during the year was preparation for the relaunch of The Hollington Club at the Charity’s premises in Camberwell in order to ensure an enduring future benefit for all. ## **ACHIEVEMENTS AND PERFORMANCE** During the year a £5,000 grant was made to the Camberwell After School Project. ## **FINANCIAL REVIEW** The financial position of the Charity recovered significantly over the year, primarily as a consequence of a rebound in investment values after the peak of the Covid-19 crisis. Although market conditions resulted in lower dividend income, a significant bequest of £10,000, lower expenditure on professional fees in respect of the re-development proposals and rents from the temporary license of the existing building meant that the Trust recorded a surplus in addition to the investment value gains on the portfolio. This resulted in an overall increase in reserves across the year of £131,154 and a year end position of £680,074, almost identical to that of two years ago. ## **RESERVES POLICY** The Trustees have reviewed the reserves of the Charity. This review encompassed the nature of the income and expenditure streams including expected future commitments for the redevelopment of the site and to the Club. At this time the reserves are primarily represented by fixed assets of which a large proportion is in investments. The income from investments is the main source of the charity's income so any diminution of investments will reduce income accordingly. It is acknowledged that capital gains or losses can also affect reserves. ## **INVESTMENT POLICY AND PERFORMANCE** Investment policy is agreed upon by the Committee and investment decisions taken by Peter Lyon, the Investment Manager, and Roger Walker, the Chairman, together with advice taken from Brewin Dolphin, Stockbrokers. The policy is designed to maximise the total return, whilst at the same time controlling the risk associated with the fund. Preference is given to relatively high yielding investments and activity is comparatively low. Avoidance of excessive capital losses is an aim, but relative performance is judged against that of both the FTSE All Share-Index and Wealth Management Association Income Index. The portfolio's performance is monitored on a regular basis and the results are communicated to the Committee at least three times a year. The Fund achieved a total return of 31.98% over the twelve months to April 5th 2021, against a total return for the FT All Share Index of 29.66%. The total return for the MSCI PIMFA Private Investor Income Index was 19.54%. ____________________________________________________________________________________ 3 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** ## **IDENTIFICATION AND MANAGEMENT OF RISKS** The Trustees have reviewed the exposure of the charity to major risks and are satisfied that, at this time, the systems in force are sufficient to mitigate any major risk. External risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the Charity. These procedures are regularly reviewed to ensure that they still meet the needs of the Charity. ## **GOVERNING DOCUMENT** DCM Hollington Trust is a Company Limited by Guarantee governed by its Memorandum and Articles of Association and has no Share Capital. It is incorporated under the Companies Acts and is registered in England. It is a registered charity with the Charity Commission. There are currently 12 members (2020: 12) each of whom has agreed to contribute £1 in the event of the charity winding up. ## **APPOINTMENT OF TRUSTEES** As set out in the Articles of Association the board (referred to as ‘the Committee’) shall comprise until otherwise determined by General Meeting: The President, who shall be the Master of Dulwich College The Honorary Secretary The Honorary Treasurer Two Honorary Sub-Treasurers Four to eight representatives of the Old Alleynians Members of the Committee shall be elected at each Annual General Meeting and hold office until the conclusion of the next Annual General Meeting. Any person elected by the Committee to fill a vacancy will hold office until the conclusion of the next Annual General Meeting. ## **TRUSTEE INDUCTION AND TRAINING** Trustees are recruited by invitation from amongst Old Alleynians, or persons closely connected with Dulwich College. The aim is to ensure that skill sets required by the Charity are covered when appointing Trustees. ## **ORGANIZATION** The Committee administers the Charity and makes decisions with due regard to the Charity Commission’s guidance on public benefit. The Committee normally meets three or four times a year and has an investment sub-committee which normally meets four or five times a year. ## **RELATED PARTIES AND CO-OPERATION WITH OTHER ORGANIZATIONS** None of the Trustees receives remuneration or other benefit from the Charity, other than re-imbursement of expenses wholly incurred in connection with the Charity **.** Any connection between a Trustee of the Charity with a contracted party must be disclosed to the Committee. In the current year related party transactions are reported in note 4 to the accounts. ____________________________________________________________________________________ 4 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** ## **REFERENCE DETAILS AND ADVISORS** Company Registration No. 249280 Charity Registration No. 233862 Principal Office: 56-60 Comber Grove, Camberwell London SE5 0LD Registered office: STC House, 7 Elmfield Road, Bromley Kent BR1 1LT Bankers: Barclays Bank plc, Moorgate Area 1, London EC2M 6SX Solicitors: Batchelors, Charles House, 35 Widmore Street Bromley Kent BR1 1RW Sandom Robinson, Triumph House, Sanderstead Road, Croydon CR2 0PL Stockbrokers: Brewin Dolphin, Vantage Point, Pynes Hill, Exeter. Devon EX2 5FD Independent Examiner: Colin Gray & Co., Hardy House, Northbridge Road, Berkhamsted HP4 1EF ## **DIRECTORS/TRUSTEES** The Directors of the Charitable company (the Charity) are its trustees for the purposes of charity law. The Trustees serving during the year and since the year end were as follows: Dr. J.A.F. Spence, M.A. President, The Master, Dulwich College R.H. Walker, FICorr Chairman P.A. Darby*, B.A. Honorary Secretary (resigned 15[th] December 2020) M.J. Camp, M.A., A.C.A. Honorary Treasurer and Secretary P.J. Johnson, CEng, M.I.C.E., F.C.M.I Honorary Sub-Treasurer D. Anderson, M.R.I.C.S., M.C.I.O.B. (resigned 15[th] December 2020) J.J. Baker*, M.A., F.R.G.S C.W. Field*, J.P., M.A., A.R.A.M., L.R.A.M., A.R.C.M. (resigned 15[th] December 2020) P.B. Hockless, M.A. (appt. 15[th] December 2020) T. Llewelyn (appt. 15[th] December 2020) P.G.R. Lyon, M.A. J.S. Murray (appt. 15[th] December 2020) Dr. H Patel, M.B., B.S., D.R.C.O.G. M. Stone J.F. Thornton, F.C.A., M.B.A. (appt. 15[th] December 2020) C.R. Vernon*, F.C.I.O.B. * these Trustees are also Trustees of The Hollington Club. ## **TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE ACCOUNTS** The Charity Trustees (who are also the Directors of DCM Hollington Trust for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Charity Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable company and of the incoming resources and application of resources, including the income and expenditure of the Charitable company for that period. In preparing those financial statements, the trustees are required to:- - a. select suitable accounting policies and then apply them consistently; - b. observe the methods and principles in the Charities SORP; - c. make judgments and estimates that are reasonable and prudent; - d. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - e. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. ____________________________________________________________________________________ 5 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL REPORT OF THE TRUSTEES for the year ended 5[th] April 2021** The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Order of the Board** ## **M J Camp Honorary Treasurer** **12[th] November 2021** ____________________________________________________________________________________ 6 **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DCM HOLLINGTON TRUST** I report to the charity trustees on my examination of the accounts of the company for the year ended 5 April 2021 which are set out on pages 8 to 15. ## **Responsibilities and basis of report** As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or - the accounts do not accord with those records; or - the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or - the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Colin Gray FCA For and on behalf of Colin Gray & Co Limited Chartered Accountants Hardy House Northbridge Road Berkhamsted Herfordshire HP4 1EF 12[th] November 2021 ____________________________________________________________________________________ 7 ## **DCM Hollington Trust A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 5[th] April 2021** |||**2021**|**2020**| |---|---|---|---| ||**Notes**|**£**|**£**| |**Income**|||| |Donations|**1(b), 3**|13,696|4,886| |Investment income and interest|**5**|14,508|22,004| |Other income|**6**|5,460|750| |||_______|_______| |**Total income**||33,664|27,640| |**Expenditure**|||| |Raising funds|**7**|600|600| |Charitable activities|**8**|6,568|6,298| |Other charitable activities|**10**|3,851|29,358| |||_______|_______| |**Total expenditure**||11,019|36,256| |||_______|_______| |**Net income/(expenditure) before investment gains/(losses)**|**11**|22,645|(8,616)| |**Net gains/(losses) on investments**|**14**|108,509|(121,336)| |||_______|_______| |**Net income/(expenditure) and net movement in funds**||131,154|(129,952)| |**Reconciliation of funds:**|||| |Total funds brought forward||548,920|678,872| |||_______|_______| |**Total funds carried forward**||£680,074|£548,920| |||=======|=======| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The result for the year for Companies Act purposes comprises the net resources acquired, before investment gains and losses, of £22,645 (2020: expended £8,616) and gains on investments on the historical cost basis of accounting of £43,983 (2020:losses of £64,798) and was a surplus of £66,628 (2020: deficit £73,414). The notes on pages 10 to 15 form part of these accounts. ____________________________________________________________________________________ 8 **DCM Hollington Trust[ Company Registration No. 249280] A CHARITABLE COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL BALANCE SHEET as at 5[th] April 2021** ||**Notes**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**FIXEDASSETS**|||| |Tangible assets|**13**|181,966|181,966| |Investments|**14**|415,434|306,924| |||_______________|_______________| |||597,400|488,890| |**CURRENTASSETS**|||| |Prepayments and accrued income||10,262|4,334| |Cash at bank and in hand||78,132|62,403| |||_______________|_______________| |||88,394|66,737| |**LIABILITIES**|||| |Creditors falling due within one year|**15**|5,720|6,707| |||_______|_______| |**NETCURRENTASSETS**||82,674|60,030| |||_______|_______| |**TOTALNETASSETS**||£680,074|£548,920| |||=======|=======| |**THEFUNDS OFTHECHARITY**|**16**||| |Unrestricted funds|||| |General fund||571,565|548,920| |Revaluation reserve||108,509|-| |||_______|_______| |**TOTALCHARITYFUNDS**||£680,074|£548,920| |||=======|=======| The company was entitled to exemption from audit under s477 Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with s476 Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. Approved by the Committee on 12[th] November 2021 and signed on its behalf by: M J Camp Trustee The notes on pages 10 to 15 form part of these accounts. ____________________________________________________________________________________ 9 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** ## **1. ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **a) Basis of accounting and assessment of going concern** The financial statements have been prepared under the historical cost convention and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. DCM Hollington Trust meets the definition of a public benefit entity under FRS 102. The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. With respect to the next reporting period, 2021-22, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of investment markets (see the investment policy and performance and risk management sections of the trustees’ annual report for more information). ## **b) Income recognition** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations, are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period. Any taxation recoverable under Gift Aid is accounted for in the same period as the underlying gift. Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date, and that any conditions attached to the legacy are either within the control of the Charity or have been met. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and passed its ‘ex-div’ date. ## **c) Expenditure recognition** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (d) below. ____________________________________________________________________________________ 10 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year grant. ## **d) Allocation of support and governance costs** Governance costs, which comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice, and support costs have been wholly attributed to charitable activities. These costs include costs related to independent examination and trustees’ indemnity insurance. Support and governance costs are detailed in note 8. ## **e) Costs of raising funds** The costs of generating funds consist of investment management costs. ## **f) Charitable activities** Costs of charitable activities include grants made, governance and support costs as shown in notes 8, 9 and 10. ## **g) Tangible fixed assets and depreciation** All assets are capitalised and valued at historical cost. Depreciation is charged on equipment on a straight-line basis over their estimated useful life of 5 years from the year of acquisition. No depreciation is charged on freehold property as the estimated residual value exceeds cost and the estimated remaining useful economic life of the building exceeds 50 years. In the opinion of the trustees the market value of the freehold property is in excess of the cost as shown. ## **h) Fixed asset investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub-sectors. ## **i) Realised gains and losses** All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. ____________________________________________________________________________________ 11 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** ## **j) Debtors** Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. ## **k) Creditors** Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. ## **2. COMPANY INFORMATION AND LEGAL STATUS OF THE TRUST** The Trust is a private company limited by guarantee and has no share capital, and is registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The Trust’s registered office is at: STC House, 7 Elmfield Road, Bromley Kent BR1 1LT Its Principal Office is at: 56-60 Comber Grove, Camberwell London SE5 0LD ## **3. TRUSTEE DONATIONS, REMUNERATION AND EXPENSES** Included within income from donations are donations of £300 from Trustees (2020: £300). No Trustee received remuneration or reimbursement of expenses during the year (2020: the same). Appropriate insurance has been arranged by the company to indemnify trustees for their legal liability for damages and legal expenses arising from the performance of their duties. ## **4. RELATED PARTY TRANSACTIONS** As indicated in the Trustees’ Report at 12[th] November 2021 four (2020; four) Trustees of this Charity are also Trustees of the Hollington Club. During the year there were no transactions between this Charity and the Hollington Club (2020: none). |**5. INVESTMENT INCOME**|**2021**|**2020**| |---|---|---| ||**£**|**£**| |Dividends|14,482|21,886| |Interest on cash deposits|26|118| ||_______|_______| ||14,508|22,004| ||======|======| |**6. OTHER INCOME**|**2021**|**2020**| ||**£**|**£**| |Rent|5,460|750| ||======|======| ____________________________________________________________________________________ 12 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** |**7. RAISING FUNDS**|**2021**|**2020**| |---|---|---| ||**£**|**£**| |Investment management fees|600|600| ||======|======| |**8 CHARITABLE ACTIVITIES**|**2021**|**2020**| ||**£**|**£**| |Grants (Note 9 (a))|5,000|5,000| |Governance and support costs (Note 9 (b))|1,568|1,298| ||_______|_______| ||6,568|6,298| ||======|======| |**9. GRANTS AND SUPPORT COSTS**|**2021**|**2020**| ||**£**|**£**| |(a) Grants||| |Camberwell After School Project|5,000|5,000| ||======|======| |(b) Governance and support costs||| |General expenses|720|450| |Indemnity insurance|848|848| ||_______|_______| ||1,568|1,298| ||======|======| |**10. OTHER CHARITABLE ACTIVITIES**|**2021**|**2020**| ||**£**|**£**| |Professional fees for freehold site development|2,565|6,063| |Property safety, security and insurance expenses|1,286|23,295| ||_______|_______| ||3,851|29,358| ||======|======| |**11. NET INCOME/EXPENDITURE FOR THE YEAR**|**2021**|**2020**| ||**£**|**£**| |Independent examiner’s fee|720|450| ||======|======| ## **12. TAXATION** As a charity, the company is exempt from tax on income and gains falling within Chapter 3 of Part II of the Corporation Taxes Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Company (2020: the same). ____________________________________________________________________________________ 13 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** |**13. TANGIBLE FIXED ASSETS**||**Freehold**| |---|---|---| |||**Property**| |Cost||**£**| |At 6thApril 2020||181,966| |Additions||-| |Disposals||-| |||_______| |At 5thApril 2021||181,966| |||_______| |Depreciation||| |At 6thApril 2020||-| |Charge for the year||-| |On disposals||-| |||_______| |At 5thApril 2021||-| |||_______| |Net book values||| |At 5thApril 2021||181,966| |||=======| |At 5thApril 2020||181,966| |||=======| |**14. FIXED ASSET INVESTMENTS**||| ||**2021**|**2020**| |**Movement in fixed asset listed investments**|**£**|**£**| |Opening market value at 6thApril|306,924|461,612| |Additions at cost|1|4| |Disposals proceeds|-|(33,356)| |Net investment gains/(losses) realised and unrealised|108,509|(121,336)| ||________|________| |Closing market value at 5thApril|415,434|306,924| ||=======|=======| |**Investments at fair value comprised:**||| |UK equities|285,351|201,380| |UK unit trusts|35,196|48,708| |Foreign unit trusts|18,099|-| |Foreign and global open ended collectives|65,217|47,556| |Property investment trusts|11,571|9,280| ||________|________| ||415,434|306,924| ||=======|=======| |Historical cost at 5thApril|340,292|296,309| ||=======|=======| ____________________________________________________________________________________ 14 **DCM Hollington Trust NOTES TO THE FINANCIAL STATEMENTS for the year ended 5[th] April 2021** |**15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |Other creditors||5,720|6,707| |||===|===| |**16. FUNDS**|||| |**Unrestricted funds**|||| ||**General**|**Revaluation**|**Total**| |||**Reserve**|| ||**£**|**£**|**£**| |Balance at 6thApril 2020|548,920|-|548,920| |Movement in the year|20,177|108,509|128,686| ||________|________|________| |Balance at 5thApril 2021|569,097|108,509|677,606| ||=======|=======|=======| ____________________________________________________________________________________ 15 ## **2020 – 2021 *** ## **Subscribers** **Adams, T.A. McDermott, Brigadier B.C. Baker, J.J. McLean, Dr. H.J.F. Beeley, J.A. Manning, P.N. Claxton, B.P.F. Moos,K.F. Croucher, R.H.H. Morris, J.D. Dorey, P.J. Niven, Dr. C. Dunsmore-Rouse, N.I. Noakes, G. Edgley, A.E. Norton. R.N. Edgley, Mrs V. Pearse, J.K.W. Evans, A.H. Rettie, Dr. G.K.C. Field, C.W. Schick, S. Field, M.H. Smith, D. Franklin, R.P. Sutcliff, Dr. J.R.H. Godfrey, M. Tomkins, Professor A. Griffiths, A.N.C. Wallace, A.S. Griffiths, J. Walters, J.R. Harper, J.S. Westbrook, R. Lewis, Dr. J.V.V. Whiffin, A.G. Liddiard, G. Wicking, M.A. Lyon, P.G.R.** *This list does not necessarily contain the names of all donors in the year. ## **Legacies** **Mrs. E.E.M. Webster, in memory of Alexander Gordon Moffat Webster, OA.**