2021-12-31-accounts

			Page
Reference and administrative		details ofthe Charity, its Trustees and advisers	1-2
Trustees' report			3-8
Independent auditor's	report	on the financial statements	9-12
Statement offinancial	activities		13
Balance sheet			14
Statement ofcash flows			15
Notes to the financial	statements		16-32

REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	REFERENCE AND ADMINISTRATIVE DETAILS OF THE	CHARITY, ITSTRUSTEES AND ADVISERS
FOR THE YEAR ENDED		31 DECEMBER 2021
Trustees		Patrick JA Burgess,		Chairman
		Julian Palfreyman,	Deputy Chairman
		Christopher Holdsworth-Hunt,			Trustee
		Richard Killingbeck,		Trustee
		Michael R I Litwall,	Trustee
		Jamie G Matheson,		Trustee
		Geoffrey Mark Powell, Trustee
		Andrew H Scott, Trustee
		David M FScott, Trustee
Charity registered
number		245430
Principal office		10Paternoster Square
		St Paul's
		London
		EC4M 7DX
Committee	for the year	Patrick J A Burgess,		Chairman
2021		Shaun M Allison
		Nicholas W Bagshawe
		Joanna Bunkham
		Colin G Climie
		Spencer Crooks
		Sarah Danes
		Andrew M Impey
		David M Leslie
		Timothy R Macdonald
		David J Macnamara
		Philip C Nathan, MBE
		Richard Noel
		Julian S Palfreyman
		David M F Scott
		Desmond A Shine
		Daniel J Southgate
		Mark A Vaughan
Secretary		Robert G Chambers
Assistant secretary		Jennifer M Golan
Independent	auditor	MHA Maclntyre Hudson
		Maidstone
		United Kingdom
Bankers		Bank of Scotland
		PO Box1984
		And over
		SP109GZ

The result for market value follows:	the year is shown on p of the investments and	age 13and the positi investments classified
		F
General Fund		26,610,753
KD Cochrane	Fund	632,922
Cecil Russell	Nye Trust Fund	13,255
Louis Sanders	Holiday Fund	11,180

				Endowment	Unrestricted	Total	Total
				funds	funds	funds	funds
			Note	2021 f	2021 f	2021f	2020 E
Income and endowments		from:
Donations and legacies					(1,698)	(1,698)	30,891
Investments				11,690	715,226	726,916	596,944
Total income and	endowments			11,690	713,528	725,218	627,835
Expenditure on:
Raising funds				3,190	122,016	125,206	139,935
Charitable activities					1,091,521	'I,091,521	922,667
Total expenditure				3,190	'I,213,537	1,216,727	1,062,602
Net income/(expenditure)		before net
gains/(losses) on	investments			8,500	(500,009)	(491,509)	(434,767)
Net gains/(losses)	on investments			81,600	3,642,580	3,724,180	(1,905,226)
Net movement in	funds			90,100	3,142,571	3,232,671	(2,339,993)
Reconciliation of	funds:
Total funds brought	forward			567,257	24,066,886	24,634,143	26,974,136
Net movement in funds				90,100	3,142,571	3,232,671	(2,339,993)
Total funds carried forward				657,357	27,209,457	27,866,814	24,634,143

					2021		2020
			Note
Fixed assets
Tangible assets			13		1,048		570
Investments			15		26,575,539		23,262,845
Investment property			14		485,000		485,000
					2?,061,587		23,748,415
Current assets
Debtors			16	71,040		96,173
Investments			17	692,571		711,627
Cash at bank and in	hand			317,&05		356,261
				1,081,416		1,164,061
Creditors: amounts	falling due within one
year			18	(52,189)		(56,333)
Net current assets					1,029,227		1,107,728
Total assets less current liabilities					28,090,814		24,856,143
Provisions for liabilities					(224,000)		(222,000)
Net assets excluding		pension asset			27,866,814		24,634,143
Total net assets					27,866,814		24,634,143
Charity funds
Endowment funds			20		657,357		567,257
Restricted funds			20
Unrestricted funds			20		27,209,457		24,066,885
Total funds					27,866,814		24,534,143

					2021	2020
						E
Cash flows from operating		activities
Net cash	used in operating	activities			(468,225)	(602,290)
Cash flows from investing		activities
Purchase	oftangible fixed assets				(776)	(712)
Proceeds	from sale of investments				15,476,473	1,523,122
Purchase	of investments				(15,064,984)	(1,564,410)
Net cash	provided by/(used in) investing			activities	410,713	(42,000)
Net cash	provided by financing activities
Change	in cash and cash	equivalents	in	the year	(57,512)	(644,290)
Cash and cash equivalents		at the beginning		ofthe year	1,067,888	1,712,178
Cash and cash equivalents		at the end	of	the year	1,010,376	1,067,888

	Unrestricted	Total	Total
	funds	funds	funds
	2021f	2021	2020 E
Donations			'/,000
Legacies	(1,698)	(1,698)	29,891
Total 2021	(1,698)	(1,698)	30,891
Total 2020	30,891	30,891

			Endowment	Unrestricted	Total	Total
			funds	funds	funds	funds
			2021 f	2021 f	2021 E	2020
Investment	income - local investment
properties				8,250	8,250	7716
Investment	income - local listed investments		11,690	576,365	588,055	466,194
Investment	income - foreign	listed investments		95,273	95,273	61,611
investment	income - other local unlisted			35,311	35,311	60,831
Investment	income - local cash			27	27	592
Total 2021			11,690	715,226	726,916	596,944
Total 2020			9,098	587,846	596,944

			Endowment	Unrestricted	Total	Total
			funds	funds	funds	funds
			2021	2021	2021	2020
					F
Investment	management	fees	3,190	122,016	125,206	139,935
Total 2020			2,565	137,370	139,935

	Unrestricted	Total	Total
	funds	funds	funds
	2021 E	2021f	2020
Support costs	279,891	279,891	167,173
Grants payable	811,630	811,630	755,494
Total 2021	1,091,521	1,091,521	922,667
Total 2020	922,667	922,667

				Total	Total
	Staffcosts	Depreciation	Other costs	funds	funds
	2021 f	2021 f.	2021 F	2021f	2020
Support costs	144,211	297	135,383	279,891	167,173
Grants payable			811,630	811,630	755,494
Total 2021	144,211	297	947,013	1„091,521	922,667
Total 2020	143,877	142	778,648	922,667

			Grants to
			Individuals
			2021	2020
Regular	grants		610,470	547,354
Capped	and emergency	grants	98,960	106,140
Welfare	organisations		2,200	2,000
Clerks fund			100,000	100,000
			811,630	755,494

	Grant
	funding of	Support	Total	Total
	activities	costs	funds	funds
	2021 E	2021f	2021 E	2020 E
Support costs		279,891	279,891	167,173
Grants payable	811,630		811,630	755,494
Total 2021	811,630	279,891	1,091,521	922,667
Total 2020	755,494	167,173	922,667

				Total	Total
			Activities	funds	funds
			2021	2021	2020
			E		E
Staff costs			144,211	144,211	143,877
Depreciation			297	297	142
Discount charge	on pension	provision	31,347	31,347	(97,112)
Charitable expenditure			73,310	73,310	83,819
Expenses visiting	beneficiaries		83	83	951
Postage, printing	and stationery		1,457	1,457	1,614
Bank charges			373	373	312
Differences on foreign exchange			517	517
Luncheon expenses					615
Mobile phones			1,021	1,021	812
Computer costs			105	105
Property expenses			244	244
Governance costs			26,926	26,926	32,143
Total 2021			279,891	279,891	167,173
Total 2020			167,173	167,173

		Unrestricted	Total	Total
		funds	funds	funds
		2021	2021	2020
		E	f.	E
Insurance		1,465	1,465	1,271
Sundry expenses		269	269	436
Committee	meetings	6,230	6,230	4,225
Legal &professional		4,317	4,317	6,490
Auditor's remuneration		14,645	14,645	19,721
Total 2021		26,926	26,926	32,143

					2021	2020
					E
Fees payable to the	Charity's	auditor	for the audit ofthe Charity's	annual
accounts					11,940	16,840
Fees payable to the	Charity's	auditor	in respect of:
Taxation compliance	services					360
Other financial services					2,705	2,521

				2021f	2020 E
Wages and	salaries			122,575	120,304
Social security costs				11,735	11,844
Contribution	to defined	contribution	pension schemes	9,901	11,729
				144,211	143,877

2021	2020
No.	No.

							No.	No.
Average number ofemployees
The number of employees whose f60,000was:		employee	benefits	(excluding	employer	pension	costs)	exceeded
						2021		2020
							No.	No.
In the	band 660,001 - f70,000
In the	band 670,001 - f80,000

			Office
			equipment
			E
	Cost or valuation
	At 1 January	2021	5,974
	Additions		776
	At 31 December 2021		6,750
	Depreciation
	At 1 January	2021	5,404
	Charge for the year		298
	At 31 December 2021		5,702
	Net book value
	At 31 December 2021		1,048
	Af 31December 2020		570
14.	Investment	property
			Long term
			leasehold
			investment
			property
			E
	Valuation
	At 1 January	2021	485,000
	At 31 December 2021		485,000

				Listed
				investmentsf
	Cost or valuation
	At 1 January	2021		23,262,845
	Additions			15,064,984
	Disposals			(15,476,473)
	Revaluations			3,724,183
	At 31 December 2021			26,575,539
	Net book value
	At 31 December 2021			26,575,539
	At 31December 2020			23,262,845
16.	Debtors
			2021	2020
			f.	E
	Due within one year
	Other debtors		157	86
	Accrued income		9,061	38,395
	P repayments		61,822	57,692
			71,040	96,173
17.	Current asset investments
			2021	2020
			F	E
	Investments	-cash deposits	692,571	711,627

		2021	2020
		f.
Other taxation and social security		6,277	5,390
Accruals and deferred	income	45,912	50,943
		52,189	56,333

			Unfunded
			Retirement
			Pension
At 1 January		2021	222,000
Amounts	used		(29,347)
Discounted		adjustments	31,347
			224,000

Statement of		funds -current	year
							Balance at
			Balance at 1				31
			January			Gains/	December
			2021f	Income F	Expenditure E	(Losses)	2021f
Unrestricted	funds
General Funds		- all funds	24,066,886	713,528	(1,213,537)	3,642,580	27,209,457
Endowment	funds
Louis Sanders		Holiday Fund	9,640	200	(50)	1,390	11,180
Cecil Russell	Nye Trust Fund		11,434	236	(61)	1,646	13,255
K D Cochrane		Fund	546,183	11,254	(3,079)	78,564	632,922
			567,257	11,690	(3,190)	81,600	657,357
Total offunds			24,634,143	725,218	(1,216,727)	3,724,180	27,866,814

Statement offun	ds - prior year
						Balance at
	Balance at					31
	1January			Transfers	Gains/	December
	2020	Income	Expenditure	in/out	(Losses)	2020
		E				E
Unrestricted
funds
General Funds-
all funds	26,4/6,018	618,737	(1,057,587)	(5,056)	(1,905,226)	24,066,886
Endowment
funds
Louis Sanders
Holiday Fund	9,445	155	(41)	81		9,640
Cecil Russell
Nye Trust Fund	11,251	184	(49)	49		11,435
K D Cochrane
Fund	537,422	8,759	(4,925)	4,926		546,182
	558,118	9,098	(5,015)	5,056		567,257
Total offunds	26,974,136	627,835	(1,062,602)		(1,905,226)	24,634,143

Summary	offunds - cur	rent year
						Balance at
		Balance at 1				31
		January			Gains/	December
		2021	Income E	Expenditure f	(Losses)f	2021 E
General funds		24,066,886	713,528	(1,213,537)	3„642,580	27,209,45?
Endowment	funds	567,257	11,690	(3,190)	81,600	657,357
		24,634,143	725,218	(1,216,727)	3,724,180	27,866,814

Summary offun	ds - prior year
						Balance at
	Balance at					31
	1January			Transfers	Gains/	December
	2020	Income	Expenditure	in/out	(Losses)	2020
	E				E
General funds	26,416,018	618,737	(1,057,587)	(5,056)	(1,905,226)	24,066,886
Endowment
funds	558,118	9,098	(5,015)	5,056		567257
	26,974,136	627,835	(1,062,602)		(1905226)	24 634 143

Analysis	of net assets between funds -current	year
		Endowment	Unrestricted	Total
		funds	funds	funds
		2021	2021	2021
		E		E
Tangible fixed assets			1,048	1,048
Fixed asset investments		633,145	25,942,394	26,575,539
Investment	property		485,000	485,000
Current assets		24,212	1,057,204	1,081,416
Creditors	due within one year		(52,189)	(52,189)
Provisions	for liabilities and charges		(224,000)	(224,000)
Total		657,357	27,209,457	27,866,814

22.	Analysis of net assets	between	between	funds (continued)	funds (continued)	funds (continued)	funds (continued)
	Analysis of net assets between			funds - prior		year
								Endowment	Unrestricted	Total
								funds	funds	funds
								2020	2020	2020
										E
	Tangible fixed assets								570	570
	Fixed asset investments							567,257	22,695,588	23,262,845
	Investment property								485,000	485,000
	Current assets								1,164,061	1,164,061
	Creditors due within one year								(56,333)	(56,333)
	Provisions for liabilities	and charges							(222,000)	(222,000)
	Total							567,257	24,066,886	24,634,143
23.	Reconciliation of net	movement		in funds to		net	cash flow	from operating	activities
										As restated
									2021	2020
									F	E
	Net income/expenditure	for	the	year	(as	per	Statement	of Financial
	Activities)								3,232,671	(2,339,993)
	Adjustments for:
	Depreciation charges								297	142
	(Gains)/losses on investments								(3,724,182)	1,905,226
	Decrease/(increase) in	debtors							25,133	(25,291)
	Decrease in creditors								(4,144)	(3,374)
	Decrease in provisions								(29,347)	(139,000)
	Net cash used in operating		activities						(499,572)	(602,290)
24.	Analysis ofcash and	cash equivalents
									2021	2020
									E
	Cash in hand								1,010,376	1,067,888
	Total cash and cash equivalents								1,010,376	1,067,888

		At 1		At 31
		January		December
		2021	Cash flows	2021
			F
		F
Cash	at bank and in hand	356,261	(38,456)	317,805
Liquid	investments	711,627	(19,056)	692,571
		1,067,888	(57,512)	1,010,376