2021-03-31-accounts - The Arthur Townrow Pensions Fund

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				Unrestricted	Permanent	Total	Total
				income	endowment	funds	funds
			Notes	fund	fund	2021	2020
Income
Investment income:
Income from	UK listed investments			120,776		120,776	140,250
Bank interest				167		167	202
Interest on overdue tax							9
Total Income				120,943		120,943	140,461
Expenditure
Raising funds:
Investment management		charges		20,468		20,468	20,964
Charitable activities:
Annuities				101,940		101,940	108,600
Administration	costs			24,339		24,339	24,812
Total Expenditure				146,747		146,747	154,376
Net income/(expenditure)		before gains	and
losses on investments				(25,804)		(25,804)	(13,915)
Other Recognised Gains/(Losses)
Gains/(Losses)	on investments:
Realised					6,752	6,752	(311,714)
Unrealised					585,125	585,125	(39,368)
Net Movement	in Funds			(25,804)	591,877	566,073	(364,997)
Reconciliation	ofFunds
Funds brought	forward at 1 April 2020			273,802	3,754,669	4,028,471	4,393,468
Funds carried	forward at 31 March 2021			247,998	4,346,546	4,594,544	4,028,471

				2021		2020
Fixed Assets
Investments				4,396,345		3,655,996
Current Assets
Debtors			68,345		235,628
Cash at bank			138,434		146,687
			206,779		382,315
Creditors:
Amounts falling due within one year			8,580		9,840
Net Current	Assets			198,199		372,475
Net Assets				4,594,544		4,028,471
Funds
Unrestricted	income fund			247,998		273,802
Permanent	endowment	fund		4,346,546		3,754,669
				4,594,544		4,028,471

ADMINISTRATION CO	STS
		2021	2020
Secretarial services		15,250	14,875
Independent examiner's	remuneration:
Fees for independent	examination	7,400	7,640
Other services		1,000	1,000
Costs oftrustees' meetings and other expenses			140
Printing, stationery, and	postage	689	1,157
		24,339	24,812

			2021	2020
3	FIXEDASSET INVESTMENTS
	UK listed investments:
	Market Value 1 April 2020		3,655,996	4,102,363
	Additions		261 ~164	811,120
	Disposals		(105,942)	(945,772)
	Net unrealised investment	gains/(losses)	585,127	(311,715)
	Market Value 31 March	2021	4,396,345	3,655,996
	Historical Cost 31 March	2021	2,781,556	2,556,215
4	DEBTORS
	Accrued investment income		2,679	1,899
	Income tax recoverable
	Funds in hands ofthe stockbroker		65,666	233,729
			68,345	235,628
5	CASH AT BANK
	Deposit accounts		47,610	47,445
	Current accounts		90,824	99,242
			138,434	146,687
6	CREDITORS: Amounts	falling due within one year
	Annuities for March 2021		180	1,440
	Accruals		8,400	8,400
			8,580	9,840

				Net
				current	Total
			Investments	assets	2021
Unrestricted	Income Fund		115,465	132,533	247,998
Permanent	Endowment	Fund	4,280,880	65,666	4,346,546
			4,396,345	198,199	4,594,544
				Net
				current	Total
			Investments	assets	2020
Unrestricted	Income Fund		135,056	138,746	273,802
Permanent	Endowment	Fund	3,520,940	233,729	3,754,669
			3,655,996	372,475	4,028,471

			Msrlwt	Acxtu Istdone	ReaSssttorm	Roecoed	fin re a Dead	Itsrkst	Cost
			vstuo et	during	durtng	gekm	9slrN	value at	st		Inoome
			31.320	your	year	(losses)	(loseos)	31321	31321		2020
Summary			E	E	E	E	E		E		E
Eeutty Shares			3,M4,880	261,165	(112,$94)	8,7$2		3,813,7DS	2,232,896	106,172	126,124
							(3.452)	247~			5,122
							14.987			12.675	9,004
			3,855,998	261,165	(112,694)	6,752	$86.127	4.398,348	2,781,ssr	12D,778	f40,250
			Market	Acquteldorm		ResSeed	uweaeesd	Market	Cost
			vskf~st 31~	during year		gains gooses)	gains Semess)	value at 31321	~t 3M21
Equity Shares			E	E		E	E	E	E
Amaton
100Com Stock US$0.01			157,102				67,330		43,997
viva
2D,DDD Ordinary	Shares ofE025										4.fsp
BBHwdtham	Trust
75,000Ordinwy	Shares ofEedfI						49/7$	142.125	75.470		t,ere
BHP Begun
4,000Ordinary	Shares ofUS$0.50								38,770		4,$07
BP
15,000Orchnsry	Shares ofUS$025		$1,830							3,011
BTGroup
,000Ordinary	Shares ofED.05										4,620
Cnxla kftwnollomt
27Onllnsry	Shares ofE0.10609756		120,769					179,458	7,751		Seee
Dschm Phwmscsutfcakr
000Ordhmry	Shsros cdE0.01		47,040				21,$60		50,511
Dfsgrm
6,000Ordinary	Shares ofE02S93$185							149,476	1,463	3,494
Esslty ABSo/B'npv
.750 Ordinary	Shwos						(7,491)				f,244
GlaxoSmffhtdlre
7,000Ordlnwy	Shwes otE025						(15,882)
Helms
7ADD (2020: 10,000)Ordlnwy		Shares ofE0.10	192,100		(62,007)	13,982	33,975		12,030		1,854
HSBC Holdfngs
12.750 Ordlruuy	Shsnm ofUS$0.50		sr,sir		(50,687)	(7230)
tmpax Envronmentsl
35,000Ordinary Shares of E0.10 Jwdfne~Holdfngs Lkl			93.800					1$3.125	10S,727	1,85$
2,400 Ordinary	Shanm ofUS$02S						17,143	113,835	72,7S4	3219
Loget 8Gonend Gnwp
35.000Onenwy	Shares ofEDAI25		67,848					97.685		8,150
Uoyds Bsnldng	Gmup
SSP29One nary Shares of ED 10
cwriod fwwwd					(112,894)	6,752		1,610,849

		Ms rlutt	Acttel ettlone	~ns	Real)sad	UnrsoDssd	Market	Cost
		value el	durtng	durlne	gales	9 allis	volvo at		tnoomo
Equ)(y Shares (ooytflnuedj		$1.320 E	E	)roar E	gooses) E	gosess) E	$1421 E	31.$21 E	2021 E
		1,355,$S6		(112,694)	6,752	360,7$3	i,eiowS
LXI REIT
126,551(2020:	113,460)Onenary Shwos ofE0.01		18,2$8			19,712	i59,454		6272
)46GPk
35,000Ordinary	shares olE0.05	39,41D				33,18D	72,590
kdctostm Corp
1,000shares $0DOI		127,078					171,017	87,336
Nstkuud Grid
13,870Otrentuy	Shetes ofE0.1243128$	132240				(11,539)	120,70i
NasUe
1,250CHFO.ID		104.185				(2,$82)	101,203	63,749
Pennon Group
10,000Ordinary	Shares ofEOA07					(11,050)	97,5M	5'I,861	3,688
Polar Capital Funds Global kteurance
20,000Shares		97,422				19,708	117,130	105,537	1,784
Rlo Tkrto
1,MOOnenwy Sharesof ED10						27,4n		18,165
RITCapital Partners
6,000Ordinary Shares ofEI.DO		108,360						102,581	2,100
Royal Dutch Shral
7,600 tt Ordkuuy Shane of60.07		tOI+85				(1.860)	100,125		3.691
Slamens AG NPV (REGD)
1000ordhaty shams						19,433	119,122
Stamens Energy	AG NPV
onenwy shares			10,003			3,071	13,074	t0,003
Shires Income
35,000 Ortensry	Shares ofE07)0
Smith &Nephew
10,000Onenwy	Shares ofUS$020	143,450				(5,650)	137.800		2,973
Smith (DS)
25,454 OnDnsry	Sharo ofE0.10	70,100				33,676	103,776	87,$68
Syncons Limned
.000Otdktaty	shwos					18,400	101.600	107,847
TP ICAP
49,000 (2020:35,000)Culinary Shwea otE026		118,440	19,600			(18,750)	119,2$0	126,981	5,898
Unfevcr
3.000Ordlnwy Shwss ol EQUI 111						(585)	121,680	1,192	4,445
Vatican Communhetktns
2,500Common	StockolUS$0.10					(2,786)	105,449	52,023	4,047
Visa Inc
750Class 'A' Shares ot USD$0.001			115,575			(3M)	115,185	115,575
Vodekme Group
75,000Ord 5henm of US$020S5238						14,160	$8,910	121,643
		3,084,890	261,186	(112,894)	6,752	573,692	3,813.705		i05,in

			Market	Acqu taigano	Rssgsad one		Unrrudkmd	Market	Ccat
			vshra ot	durtng	during	gains	gains	vskro st			fnoomo
			31.MO	year	year	(tosses)	(hssas)	SIAAt	31,341		2020
Government Secor((tee			E	E	E	E	E	E	E		E
E70,000 2'/% Index~
Treasury Stock 2024											5.122
120,000125%Indox4tnkod
Treasury Stodr 2032			2M,852				(3,462)	247~	253,606	2,929
							(3,452)	247.200			5,122
			Market	Acqul stdone	Roagsatlons	Rsa0aad	Unroallssd	Market	Cost
			value at	durhg	during	gains	girl no	value at	at
			31220			(losses)	)	3'1321	31221	2021
(nvestment Compen(ee			E	E	E	E	r.	E	E	E
In(emotional Pubtc Partnershlps		Ltd
82266 OnSnsry Shares	ofE0.0001						10.037	138.370		5.981	3,217
Jupiter Unit Trust alanagara
Sordogk Band 299,955.472shares			192,121					197,071	201,247
Standard LNe Investment	PcoperUm
Income Trust
63,885Ordinmy Shares	ofE0.01
							14,987	335,441		12,876