## 

||Page|
|---|---|
|Legalandadministrativeinformation||
|Trusteesreport|2-4|
|Independentexaminer'sreport|5|
|Statementoffinancialactivities||
|Statementoffinancialposition||
|Statementofcashflows|F1|
|Notestotheaccounts|9-14|
|Investmentschedule|15-25|





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|||2022|2021|
|---|---|---|---|
||Notes|£|£|
|Income||||
|Investmentincome|3|50,689|38,634|
|Otherincome|4|-|80|
|Totalincome||50,689|38,714|
|Expenditure||||
|Charitableactivities|5|84,157|80,061|
|Totalresourcesexpended||84,157|80,061|
|Net(expenditure)beforeinvestmentgains||(33,468)|(41,347)|
|Netgainsoninvestments|9|124,155|52,250|
|Netmovementinfunds||90,687|10,903|
|FundbalancesatIFebruary2021||2,179,400|2,168,497|
|Fundbalancesat31January2022||2,270,087|2,179,400|





## 

## 

|||`2022`|`2022`|`2021`||
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixedassets||||||
|Investments|10||2,235,715||2,133,618|
|Currentassets||||||
|Debtors|11|423||224||
|Cashatbankandinhand||46,747||56,718||
|||47,170||56,942||
|Creditors:amountsfallingduewithin|12|||||
|oneyear||(12,798)||(11,160)||
|Netcurrentassets|||34,372||45,782|
|Totalassetslesscurrentliabilities|||2,270,087||2,179,400|
|Incomefunds||||||
|Unrestrictedfunds|||2,270,087||2,179,400|





## 

## 

## 

|||2022||2021||
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Cashflowsfromoperatingactivities||||||
|Cashabsorbedbyoperations|14||(82,519)||(70,461)|
|Investingactivities||||||
|Purchaseofinvestments||(296,035)||(470,305)||
|Proceedsondisposalofotherinvestments||366,015||452,364||
|Dividendsandinterestreceivedfrominvestments||50,490||42,478||
|Netcashgeneratedfrominvesting||||||
|activities|||120,470||24,537|
|Netincrease/(decrease)incashandcash||||||
|equivalents|||37,951||(45,924)|
|Cashandcashequivalentsatbeginningofyear|||128,566||174,490|
|Cashandcashequivalentsatendof|15|||||
|year|||166,517||128,566|





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## 

||2022|2021|
|---|---|---|
||£|£|
|Incomefromlistedinvestments|36,051|26,514|
|Foreignincome|12,083|9,638|
|Fixedinterest|1,616|6,246|
|REITS|973|-|
|Accruedinterest|(34)|(2,013)|
|Writeofftaxrecoverable|-|(1,751)|
||50,689|38,634|
|Otherincome|||
||2022|2021|
||£|£|
|Bankinterest|-|80|





## 

## 

## 

||2022|2021|
|---|---|---|
||£|£|
|Grantfundingofactivities(seenote6)|59,200|56,450|
|Shareofsupportcosts(seenote7)|13,719|12,156|
|Shareofgovernancecosts(seenote7)|11,238|11,455|
||84,157|80,061|
|Grantspayable|||
||2022|2021|
||£|£|
|Animal|2,500|2,500|
|Cancer&Hospices|15,000|11,500|
|Military&Disabled|3,000|6,000|
|Religious&Community|15,200|10,700|
|Health&Disability|21,500|23,750|
|Other|2,000|2,000|
||59,200|56,450|



## 

## 

|Supportcosts||||||
|---|---|---|---|---|---|
||Support|Governance|2022|2021|Basisof|
||costs|<br>costs|||allocation|
||£|<br>£|£|£||
|Investmentmanagementfees|13,719|<br>-|13,719|12,156||
|Managementandadministrationfees|-|<br>9,600|9,600|9,600|Governance|
|Independentexaminer'sfee|-|<br>1,638|1,638|1,560|Governance|
|Trustees'meetingexpenses|-|<br>-|-|295|Governance|
||13719|<br>11238|24957|23.611||



## 



## 

## 

## 

|||2022|2021|
|---|---|---|---|
|||£|£|
|Unrealisedgains||122,029|98,881|
|Gain/(loss)onsaleofinvestments||2,126|(46,631)|
|||124,155|52,250|
|Fixedassetinvestments||||
||Listed|Cashin|Total|
||investments|portfolio||
||£|£|£|
|Costorvaluation||||
|At31January2021|2,061,770|71,848|2,133,618|
|Additions|296,035|-|296,035|
|Unrealisedgain|122,029|-|122,029|
|Realisedgain|2,126|-|2,126|
|Cashinvested|-|47,922|47,922|
|Disposals|(366,015)|-|(366,015)|
|At31January2022|2,115,945|119,770|2,235,715|



## 

|Investment||Units|MarketValue|<br>%ofTotal|Market|
|---|---|---|---|---|---|
||||£|Value||
|IsharesS&P500Nay|3,500||115,201|5.44%||
|||||2022|2021|
|||||£|£|
|Listed investments|||2,115,945||2,061,770|
|Cashininvestmentportfolio||||119,770|71,848|
||||L,LiD,/15||L,I:i:i,bIb|
|Historiccostofinvestments|||1,453,546||1,420,614|





## 

## 

|11|Debtors:amountsfallingduewithinoneyear|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||Dividendsdue|369|-|
||Prepaymentsandaccruedincome|54|224|
|||423|224|
|12|Creditors:amountsfallingduewithinoneyear|||
|||2022|2021|
|||£|£|
||Managementandadministrationfee|9,600|9,600|
||Independentexaminer'sfee|3,198|1,560|
|||12,798|11,160|



## 

## 

|Cashgeneratedfromoperations|||
|---|---|---|
||2022|2021|
||£|£|
|Surplusfortheyear|90,687|10,903|
|Adjustmentsfor:|||
|Investmentincomerecognisedinprofitorloss|(50,689)|(40,465)|
|(Gain)/lossondisposalofinvestments|(2,126)|46,631|
|Unrealised(gain)|(122,029)|(98,881)|
|Movementsinworkingcapital:|||
|(Increase)/decreaseindebtors|-|1,751|
|Increaseincreditors|1,638|9,600|
|Cashabsorbedbyoperations|(82,519)|(70,461)|





## 

## 

## 

## 

|Cashandcashequivalents|||
|---|---|---|
||2022|2021|
||£|£|
|Cashatbankandinhand|46,747|56,718|
|Cashinvested|119,770|71,848|
||166,517|128,566|
|Donationsmadeduringtheyear|||
||2022|2021|
||£|£|
|AllSaint'sChurch,Fulham|2,000|2,000|
|BLESMA,TheLimblessVeterans|-|3,000|
|CombatStress|1,000|1,000|
|Crohn'sinChildhoodResearchAssociation|1,000|750|
|Crosslight|500|500|
|DionisChurch|2,000|-|
|DorothyHouseHospice|500|500|
|GlassDoor|1,000|1,000|
|GrowforLife|1,000|1,000|
|FriendsoftheElderly|3,000|3,000|
|HalowProject|500|500|
|Helen&DouglasHouse|1,000|1,000|
|Hilda'sHouse|3,000|-|
|HookChurch|1,000|1,000|
|HuntStaffBenefitSociety|2,000|1,000|
|Jamie'sFarm|1,000|1,000|
|MacmillanCancerSupport|1,500|1,500|
|MotorNeuroneDiseaseAssociation|10,000|10,000|
|PCCofKingstonLisle|1,000|1,000|
|PDSA|1,000|1,000|
|QueenElizabethFoundation|1,000|1,000|
|QueenMother'sClothingGuild|1,000|1,000|
|RainbowTrust|1,000|1,000|
|RoyalMarsdenCancerCharity—TheOakCentre|5,000|1,500|
|SHOUT|2,000|2,000|
|StAndrew'sChurchNorthKilworth|1,200|1,200|
|StMichael'sHospice|2,000|2,000|
|StRichard'sHospice|2,000|2,000|
|SurvivorsTrust|1,000|2,000|
|TheCureParkinson'sTrust|5,000|5,000|
|TheIrishDraughtHorseSociety|1,500|1,500|
|TheMacularSociety|2,500|5,000|
|TheMannaSociety|-|500|
||59,200|56,450|





## 

## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profit/(Ioss)|Profitl(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|AberforthSmallerCompaniesTrust|||||||||||
|Ordinary1p|||||||||||
|2,900|34,510|||||||||664|
||||||||7,192|2,900|41,702|318|
|ArtemisFundManagers|||||||||||
|CorporateBondFGBPDis|||||||||||
|28,000|31,069|||||||||184|
|||||||||||208|
|||||||||||212|
||||||||(1,327)|28,000|29,742|197|
|AssociatedBritishFoods|||||||||||
|Ordinary515/22p|||||||||||
|1,500|31,755|||||||||93|
|||||||||||207|
||||||||(2,640)|1,500|29,115|308|
|AstraZeneca|||||||||||
|OrdinaryUS$0.25Stock|||||||||||
|||490|35,551||||6,672|490|42,223|318|
|BaringsUmbrellaFdPlc|||||||||||
|EmgMktsDebtBidTotRtnTrAGBPDis|||||||||||
|480|<br>54,523|||||||||681|
|||||||||||730|
|||||||||||755|
||||||||(7,334)|480|<br>47,189|751|





## 

## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profit/(loss)|Profitf(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|BHGlobalLtd|||||||||||
|NPVSterlingshares|||||||||||
|2,152|41,534|||2,152|23,789|(17,745)|||||
||||||5|5|||||
|BHMacroLtd|||||||||||
|NPVOrdinaryShares|||||||||||
|||1,246|23,789||||23,808|1,246|47,597||
|BHPGroupPlc|||||||||||
|OrdinaryUSD0.50|||||||||||
|1,100|22,127|||||||||803|
||||||||4,081|1,100|26,208|1,588|
|BlackrockFundManagers|||||||||||
|ContinentalEuropeanIncomeDUnits|||||||||||
|||18,000|34,436||||(2,180)|18,000|32,256|66|
|Bunzlplc|||||||||||
|Ordinary321/7pshares|||||||||||
|1,500|35,250|||||||||575|
||||||||6,255|1,500|41,505|243|
|CGPortfolioFund|||||||||||
|RealReturn'A'|||||||||||
|315|64,477||||||656|315|65,133|946|





## 

## 

## 

|Holding|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|
|1|February|1February|Quantity|Cost|Quantity|Proceeds|Profit/(Ioss)|Profitf(loss)|31January|31January||
||2021|2021|||||||2022|2022||
|||£||£||£|£|£|£|£|£|
|CGPortfolioFundPic||||||||||||
|AbsoluteReturnMGBP||||||||||||
||240|31,606|250|34,260|||||||747|
|||||(164)||||2,589|490|68,291||
|CouplandCardiffFunds||||||||||||
|JapanAlphaTGBPAcc||||||||||||
||2,500|34,050|2,100|30,163||||(18,889)|4,600|45,324||
|CrodaInternational||||||||||||
|OrdinaryGBP0.10609756||||||||||||
||410|25,773|||||||||211|
|||||||||6,912|410|32,685|178|
|Diageo||||||||||||
|Ordinary28.935185p||||||||||||
||1,350|39,812|||||||||377|
|||||||||10,449|1,350|50,261|602|
|ETFSHedgedMetalSecLtd||||||||||||
|DailyHgdPhysicalGold(GBP)||||||||||||
||10,000|101,500|||2,300|22,134|(1,211)|(3,426)|7,700|74,729||
|FilInvestmentServices(Uk)limited||||||||||||
|InstitutionalEmergingMarketsWAccNay||||||||||||
||23,000|50,324||269|23,000|40,240|(10,353)||||269|
|FilInvestmentServices(Uk)limited||||||||||||
|EmergingMarketsRGBPAcc||||||||||||
||||34,691|40,240||||6,870|34,691|47,110||





## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profitt(loss)|Profit/(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|FindlayParkFundsPLC|||||||||||
|AmericanGBPHedgeddis|||||||||||
|1,100|<br>87,318||||||11,517|1,100|98,835||
|FranklinTempletonFundsIi|||||||||||
|FtfClearbridgeUSEquityIncomeXInc|||||||||||
|ChangedfromLeggMasonGlobalAsset|ManagementUS|EquityIncomeIIncon09/08/2021|||||||||
|23,000|<br>59,731|||||||||273|
|||||||||||303|
|||||||||||281|
||||||||14,214|23,000|73,945|302|
|HiclInfrastructurePic|||||||||||
|OrdinaryGBP0.0001|||||||||||
|9,766|<br>17,071|||||||||169|
|||||||||||32|
|||||||||||4|
|||||||||||198|
|||||||||||103|
|||||||||||99|
|||||||||||119|
||||||||(39)|9,766|17,032|82|
|HighbridgeMulti-Strategy|||||||||||
|CashExitEntitlement|||||||||||
|21,422|<br>3,620||||600|600|(599)|21,422|3,021||





## 

## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profit/(loss)|Profit/(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|ImpaxEnvironmentalMarkets|||||||||||
|Ordinary10p|||||||||||
|16,000|73,680|||||||||160|
|||||||||||208|
||||||||(1,360)|16,000|72,320|240|
|IntertekTesting|||||||||||
|OrdinaryGBP0.01|||||||||||
|900|49,662|||||||||644|
||||||||(1,566)|900|48,096|308|
|(shares|||||||||||
|(sharesS&P500Nay(GBP)|||||||||||
|4,300|<br>116,713|||800|26,217|4,503||||376|
|||||||||||377|
|||||||||||317|
||||||||20,202|3,500|115,201|320|
|JacksonFinancialInc|||||||||||
|USD0.01ClsACommonStockWI|||||||||||
|||43|855|43|827|(14)|||||
||||(14)||||||||
|JpmorganFundsLtd|||||||||||
|USEquityIncKGBPNetIncUnhdg|||||||||||
|40,469|48,360|8,531|12,040|||||||263|
|||||||||||255|
|||||||||||287|
||||||||12,120|49,000|72,520|263|





## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profiti(loss)|Profit/(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|JupiterUnitTrustManagers|||||||||||
|JapanIncomeZGBPDis|||||||||||
|41,000|45,268|37,000|41,678|33,000|40,600|3,815||||499|
||||(232)|||||||773|
||||(199)||||598|45,000|50,328||
|Legal&GeneralGroup|||||||||||
|Ordinary2.5p|||||||||||
|10,000|24,400|||||||||1,264|
||||||||4,340|10,000|28,740|518|
|LinkFundSolutionsLtd|||||||||||
|CfRufferTotalReturnIInc|||||||||||
|12,000|41,683|||||||||136|
||||||||3,546|12,000|45,229|391|
|LloydsBankingGroup|||||||||||
|Ordinary10p|||||||||||
|89,000|29,370|21,000|9,997|||||||507|
||||||||16,788|110,000|56,155|737|
|M&GSecuritiesLimited|||||||||||
|GlobalMacroBondJGBPDisUnhedged|||||||||||
|27,000|29,662|||27,000|30,834||1,172|||W2|
|M&gSecuritiesLtd|||||||||||
|GlobalMacroBondPpGBPDis|||||||||||
|||30,065|30,834|30,065|28,457|(2,377)||||86|





## 

## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profitf(loss)|Profit/(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|MarlboroughFdMgrsEuroMultiCapPInc|||||||||||
|Units|||||||||||
|||2,700|22,862||||(1,809)|2,700|21,053||
|MarlboroughFundManagers|||||||||||
|EuropeanTrustPIncNay|||||||||||
|||||||||||69|
|MercantileInvestment1stPlc(The)|||||||||||
|OrdinaryGBP0.025|||||||||||
|23,000|53,130|||||||||311|
|||||||||||610|
|||||||||||311|
||||||||2,990|23,000|56,120|311|
|NationalGrid|||||||||||
|OrdinaryGBP0.12431289|||||||||||
|3,000|25,500|||||||||965|
||||||||6,888|3,000|32,388|516|
|Persimmon|||||||||||
|Ordinary10p|||||||||||
|||940|27,055||||(4,551)|940|22,504||
|PolarCapitalFund|||||||||||
|GlobalTechnologyFundI(GBP)|||||||||||
|1,600|<br>105,904|||400|27,380|904|||||
|||||200|13,140|(98)|||||
|||||180|12,629|715|(3,994)|820|50,282||





## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profiti(loss)|Profiti(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|PolarCapitalFunds|||||||||||
|HealthcareOppsISterlingShareIncNay|||||||||||
|800|38,232||||||(1,856)|800|36,376||
|Prudential|||||||||||
|Ordinary5p|||||||||||
|1,750|20,519|||||||||135|
|||||||||||855|
||||||||1,102|1,750|21,621|68|
|RelxPlc|||||||||||
|GBP0.1444|||||||||||
|1,500|27,188|||||||||501|
||||||||6,862|1,500|34,050|215|
|RenewablesInfrastructureGRP|||||||||||
|NPVOrdinaryshares|||||||||||
|27,777|35,277|||7,777|10,269|392||||469|
|||||||||||469|
|||||||||||469|
||||||||1,280|20,000|26,680|338|
|RentokilInitial|||||||||||
|Ordinary1p|||||||||||
|8,100|40,306|||||||||438|
||||||||1,668|8,100|41,974|169|





## 

## 

## 

|Holding|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|
|1|February|1February|Quantity|Cost|Quantity|Proceeds|Profit/(loss)|Profit/(loss)|31January|31January||
||2021|2021|||||||2022|2022||
|||£||£||£|£|£|£|£|£|
|RioTinto||||||||||||
|Ordinary10p(Registered)||||||||||||
||533|29,789|||||||||1,183|
||||||||||||356|
||||||||||||1,444|
|||||||||(2,153)|533|27,636|710|
|RocheHoldingsAg||||||||||||
|GenusscheineNoParValue||||||||||||
||180|45,485||||||5,946|180|51,431|814|
|RoyalDutchShell||||||||||||
|'B'SharesEUR0.07||||||||||||
||3,310|42,110|||3,310|49,578|7,468||||396|
|SageGroup||||||||||||
|Ordinary1.051948p||||||||||||
||||||||||||679|
|SchroderOrientalIncomeFund||||||||||||
|OrdGBP0.01||||||||||||
||17,500|<br>46,550|||||||||333|
||||||||||||333|
||||||||||||333|
|||||||||525|17,500|<br>47,075|840|
|SchroderUnitTrusts||||||||||||
|AsianIncomeLInc||||||||||||
||38,000|<br>29,165|||||||||426|
|||||||||308|38,000|<br>29,473|542|





## 

## 

||Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|---|
|1|February|1February|Quantity|Cost|Quantity|Proceeds|Profiti(loss)|Profitl(loss)|31January|31January||
||2021|2021|||||||2022|2022||
|||£||£||£|£|£|£|£|£|
|Smith&Nephew||||||||||||
|OrdinaryUS$0.20||||||||||||
||2,000|30,830|||||||||332|
|||||||||(5,760)|2,000|25,070|210|
|Tesco||||||||||||
|Ordinary5p||||||||||||
||11,000|26,334|||11,000|25,372||(962)|||5,602|
|Tescoplc||||||||||||
|6.333333pOrdinaryShares||||||||||||
||||8,684|25,372|8,684|22,226|(3,146)||||517|
|ThesisUnitTrustManagementLtd||||||||||||
|TmCruxEuropeanSpecialSitsIGBPDis||||||||||||
||22,250|51,139||(25)|22,250|59,403|8,289||||200|
|Treasury||||||||||||
|21/2%I/IStk2024||||||||||||
||13,000|46,311|||||||||488|
|||||||||1,522|13,000|47,833|502|
|TreasuryIndexlinked||||||||||||
|0.125%stock22/03/29||||||||||||
||||26,000|40,899|||||||20|
|||||||||2,079|26,000|42,978|21|
|TreasuryStock||||||||||||
|1.875%Indexlinked22/11/2022||||||||||||
||26,000|28,553|||26,000|40,648|12,095|||||





## 

## 

## 

|Holding|MarketValue|Additions||Disposals|Disposals|Realised|Unrealised|Holding|MarketValue|NetIncome|
|---|---|---|---|---|---|---|---|---|---|---|
|1February|1February|Quantity|Cost|Quantity|Proceeds|Profitl(loss)|Profit/(loss)|31January|31January||
|2021|2021|||||||2022|2022||
||£||£||£|£|£|£|£|£|
|TwentyfourGlobalInvestmentFunds|||||||||||
|CorporateBondIGBPDis|||||||||||
|300|31,818|||||||||228|
|||||||||||213|
|||||||||||224|
||||||||(1,896)|300|29,922|224|
|Unilever|||||||||||
|Ordinary31/9p|||||||||||
|1,000|42,400|||||||||376|
|||||||||||371|
|||||||||||369|
||||||||(4,525)|1,000|37,875|360|
|VodafoneGroup|||||||||||
|OrdinaryUS$0.2095238|||||||||||
|10,909|13,619|||10,909|11,902|(1,717)||||434|
|||||||||||418|
|VonoviaSe|||||||||||
|NPVshares|||||||||||
|550|26,763|192|6,604||||(2,256)|742|<br>31,111|795|
|TOTAL:|2,061,770||416,270||486,250|2,125|122,029||||