DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
**Charity number: 252848**
## **DEVONPORT CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2021**
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Trustees**|1|
|**Reference and administrative details of the charity and advisers**|2|
|**Trustees' report**|3 - 5|
|**Independent examiner's report**|6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 16|
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
**TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021**
## **Trustees**
The Rt Hon Terence Third Viscount Devonport Mr David Andrew Gray The Rt Hon Doctor Meiyi Pu Viscountess Devonport
Page 1
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2021**
## **Charity registered number**
252848
## **Principal office**
Ray Estate Lynnheads Barn West Woodburn Hexham Northumberland NE48 2TU
## **Accountant**
Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP
## **Investment managers**
Smith & Williamson Investment Management 25 Moorgate London EC2R 6AY
Page 2
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2021**
The Trustees present their annual report together with the financial statements of the Devenport Charitable Trust for the year ended 5 April 2021.
## **Objectives and Activities**
## l **POLICIES AND OBJECTIVES**
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.
The principal object of the charity is to make gifts for such charitable objects or purposes as the Trustees or a majority of them shall from time to time in their absolute discretion determine.
## l **GRANT MAKING POLICIES**
Grants are awarded from time to time at the absolute discretion of the trustees.
## l **MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT**
The main activity is to make discretionary grant payments from time to time to instituitions which will benefit the general public in due course.
## **Achievements and performance**
## l **KEY FINANCIAL PERFORMANCE INDICATORS**
The key financial performance indicator is to increase the capital base of the investments and generate sufficient income to make discretionary grant payments from time to time.
## l **REVIEW OF ACTIVITIES**
The Trustees have made donations totalling £7,920 (17 grants) during the year (2020: £1,980 (4 grants)).
The charity has made a surplus for the year of £27,343 before investment gains (2020: surplus of £91,793). After accounting for investment gains of £63,099 (2020: investment losses of £34,311) a surplus of £90,442 (2020: surplus of £57,482) was made in the year.
## l **INVESTMENT POLICY AND PERFORMANCE**
The Trustees have agreed a policy for investing funds enabling them to maintain a strategic reserve of funds while providing funding for the expenditure of the charity and have given investment managers discretion to manage the portfolio within an agreed risk profile.
Page 3
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
**TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2021**
## **Financial review**
## l **GOING CONCERN**
After making appropriate enquiries and considering the possible consequences of the COVID-19 pandemic as it might affect the charitable company the Trustees have concluded that they have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## l **RESERVES POLICY**
The Trustees believe that sufficient reserves must be held to enable larger donations to be made available as and when they are requested and, because the charity receives income from donations which are not received evenly throughout and between years, look to make donations out of income previously received. The charity aim to hold sufficient reserves to enable them to pay grants for the forthcoming 12 months.
## **Structure, governance and management**
## l **CONSTITUTION**
The charity was created by a trust deed dated 16 March 1967.
## l **METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The trust deed provided that the Trustees were appointed by the founder during his lifetime. New Trustees are now appointed by the existing Trustees.
## l **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES**
There are no formal procedures for the induction and training of Trustees. Senior Trustees ensure, on an informal basis, that new Trustees are given adequate information to ensure that they have knowledge of the charity and their role.
## l **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The Trustees have absolute discretion for dealing in and disposing of investments as they think fit to the extent that the Trustees shall have the same unrestricted powers of investing, varying and transposing investments as if they were the beneficial owners of the monies in the charity.
## l **RISK MANAGEMENT**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate any exposure to the major risks.
Page 4
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 5 APRIL 2021**
## l **PRINCIPAL ACTIVITIES**
The charity is a grant making organisation with income derived from investment income and donations received.
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 20 December 2021 and signed on their behalf by:
**The Rt Hon Terence Third Viscount Devonport Trustee**
Page 5
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2021**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEVONPORT CHARITABLE TRUST (the 'charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2021.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: Dated: 20 December 2021
Simon Whiteside FCA
Ryecroft Glenton 32 Portland Terrace Newcastle Upon Tyne, NE2 1QP
Page 6
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021**
|**Endowment**
**funds**
**Note**
**2021**
**£**
**INCOME AND ENDOWMENTS**
**FROM:**
Donations and legacies
2
**-**
Investments
3
**-**
Other income
4
**-**
**TOTAL INCOME AND**
**ENDOWMENTS**
**-**
**EXPENDITURE ON:**
Charitable activities
6
**3,027**
**TOTAL EXPENDITURE**
5
**3,027**
**NET INCOME /**
**(EXPENDITURE) BEFORE**
**INVESTMENT**
**GAINS/(LOSSES)**
**(3,027)**
Net gains/(losses) on
investments
8
**63,099**
**NET INCOME /**
**(EXPENDITURE) BEFORE**
**OTHER RECOGNISED**
**GAINS AND LOSSES**
**60,072**
**NET MOVEMENT IN FUNDS**
**60,072**
**RECONCILIATION OF**
**FUNDS:**
Total funds brought forward
**112,762**
**TOTAL FUNDS CARRIED**
**FORWARD**
**172,834**|**Restricted**
**funds**
**Unrestricted**
**funds**
**2021**
**£**
**2021**
**£**
**36,000**
**160**
**-**
**4,138**
**-**
**-**
**36,000**
**4,298**
**-**
**9,928**
**-**
**9,928**
**36,000**
**(5,630)**
**-**
**-**
**36,000**
**(5,630)**
**36,000**
**(5,630)**
**-**
**100,809**
**36,000**
**95,179**|**Total**
**funds**
**2021**
**£**
**36,160**
**4,138**
**-**
**40,298**
**12,955**
**12,955**
**27,343**
**63,099**
**90,442**
**90,442**
**213,571**
**304,013**|_Total_
_funds_
_2020_
_£_
_94,571_
_3,728_
_50_
_98,349_
_6,556_
_6,556_
_91,793_
_(34,311)_
_57,482_
_57,482_
_156,089_
_213,571_|
|---|---|---|---|
The notes on pages 9 to 16 form part of these financial statements.
Page 7
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2021**
|**Note**
**FIXED ASSETS**
Investments
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
**CREDITORS:**amounts falling due within
one year
10
**NET CURRENT ASSETS**
**NET ASSETS**
**CHARITY FUNDS**
Endowment funds
11
Restricted funds
11
Unrestricted funds
11
**TOTAL FUNDS**|**£**
**2,646**
**46,914**
**49,560**
**(5,379)**|**2021**
**£**
**259,832**
**44,181**
**304,013**
**172,834**
**36,000**
**95,179**
**304,013**|_£_
_2,646_
_14,370_
_17,016_
_(2,538)_|_2020_
_£_
_199,093_
_14,478_|
|---|---|---|---|---|
|||||_213,571_|
|||||_112,762_
_-_
_100,809_|
|||||_213,571_|
The financial statements were approved by the Trustees on 20 December 2021 and signed on their behalf, by:
## **The Rt Hon Terence Third Viscount Devonport**
The notes on pages 9 to 16 form part of these financial statements.
Page 8
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Devonport Charitable Trust constitutes a public benefit entity as defined by FRS 102.
## **1.2 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.
## **1.3 Income**
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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 9
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **1. ACCOUNTING POLICIES (continued)**
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **1.5 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **1.6 Liabilities**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.7 Interest receivable**
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.
## **1.8 Debtors**
Other debtors are recognised at the settlement amount.
## **1.9 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 10
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **2. INCOME FROM DONATIONS AND LEGACIES**
|Donation - restricted
Donation - unrestricted
Distribution from Devonport Pensions Trust
Tax repayable
Total donations and legacies
_Total 2020_
**INVESTMENT INCOME**
Other interest
Property income distributions
UK dividends
Fixed interest
Unit trust interest
Overseas income
_Total 2020_|**Restricted**
**funds**
**Unrestricted**
**funds**
**2021**
**£**
**2021**
**£**
**36,000**
**-**
**-**
**160**
**-**
**-**
**-**
**-**
**36,000**
**160**
_-_
_94,571_
**Restricted**
**funds**
**Unrestricted**
**funds**
**2021**
**£**
**2021**
**£**
**-**
**2**
**-**
**357**
**-**
**2,062**
**-**
**9**
**-**
**561**
**-**
**1,147**
**-**
**4,138**
_-_
_3,728_||**Total**
**funds**
**2021**
**£**
**36,000**
**160**
**-**
**-**
**36,160**
_94,571_
**Total**
**funds**
**2021**
**£**
**2**
**357**
**2,062**
**9**
**561**
**1,147**
**4,138**
_3,728_|_Total_
_funds_
_2020_
_£_
_-_
_-_
_91,925_
_2,646_|
|---|---|---|---|---|
||||||
||||||
|||||_94,571_|
|||||_Total_
_funds_
_2020_
_£_
_24_
_338_
_1,779_
_8_
_453_
_1,126_
_3,728_|
||||||
||||||
||||||
||||||
||||||
||||||
## **3. INVESTMENT INCOME**
## **4. OTHER INCOMING RESOURCES**
|Miscellaneous income
_Total 2020_|**Restricted**
**funds**
**Unrestricted**
**funds**
**2021**
**£**
**2021**
**£**
**-**
**-**
**-**
**-**
_-_
_50_|**Total**
**funds**
**2021**
**£**
**-**
**-**
_50_|_Total_
_funds_
_2020_
_£_
_50_
_50_|
|---|---|---|---|
|||||
Page 11
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **5. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE**
|**Other costs**
**2021**
**£**
Grants payable
**7,920**
Support costs - governance
**5,035**
**12,955**
_Total 2020_
_6,556_
**Grants paid**
3H Fund
British Forces Foundation
Countryside Alliance Foundation
County Durham Community Fund
Crisis
Design for Disabled People
Guide Dogs Association
Gurka Welfare Trust
Lennox Children's Cancer Fund
Martin House
Myaware
Song Birds Survival
Speak Suicide Prevention
St Catherine's Hospice Limited
The Suicide Prevention Charity
World Cancer Research Fund
ZANE
Interact Stroke Support
Northumberland Wildlife Trust
Royal Forestry Society
Worldwide Cancer Research
Total|**Other costs**
**2021**
**£**
Grants payable
**7,920**
Support costs - governance
**5,035**
**12,955**
_Total 2020_
_6,556_
**Grants paid**
3H Fund
British Forces Foundation
Countryside Alliance Foundation
County Durham Community Fund
Crisis
Design for Disabled People
Guide Dogs Association
Gurka Welfare Trust
Lennox Children's Cancer Fund
Martin House
Myaware
Song Birds Survival
Speak Suicide Prevention
St Catherine's Hospice Limited
The Suicide Prevention Charity
World Cancer Research Fund
ZANE
Interact Stroke Support
Northumberland Wildlife Trust
Royal Forestry Society
Worldwide Cancer Research
Total|**Other costs**
**2021**
**£**
Grants payable
**7,920**
Support costs - governance
**5,035**
**12,955**
_Total 2020_
_6,556_
**Grants paid**
3H Fund
British Forces Foundation
Countryside Alliance Foundation
County Durham Community Fund
Crisis
Design for Disabled People
Guide Dogs Association
Gurka Welfare Trust
Lennox Children's Cancer Fund
Martin House
Myaware
Song Birds Survival
Speak Suicide Prevention
St Catherine's Hospice Limited
The Suicide Prevention Charity
World Cancer Research Fund
ZANE
Interact Stroke Support
Northumberland Wildlife Trust
Royal Forestry Society
Worldwide Cancer Research
Total|**Total**
**2021**
**£**
**7,920**
**5,035**
**12,955**
_6,556_
**2021**
**£**
**500**
**500**
**320**
**500**
**500**
**500**
**200**
**300**
**500**
**500**
**500**
**500**
**500**
**100**
**500**
**500**
**1,000**
**-**
**-**
**-**
**-**
**7,920**||_Total_
_2020_
_£_
_1,980_
_4,576_|
|---|---|---|---|---|---|
|||||||
|||||||
||||||_6,556_|
||||||_2020_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_480_
_500_
_500_
_500_|
|||||||
|||||||
|||||||
||||||_1,980_|
Page 12
DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **6. SUPPORT COSTS - GOVERNANCE**
|**Endowment**
**funds**
**2021**
**£**
Accountancy
**1,310**
Investment management
fees
**1,535**
LEI fees
**72**
Bank charges
**-**
Accountancy under-
provision
**20**
RG - Additional accountancy
work
**90**
**3,027**|**Restricted**
**funds**
**Unrestricted**
**funds**
**2021**
**£**
**2021**
**£**
**-**
**1,310**
**-**
**511**
**-**
**-**
**-**
**76**
**-**
**21**
**-**
**90**
**-**
**2,008**|**Total**
**funds**
**2021**
**£**
**2,620**
**2,046**
**72**
**76**
**41**
**180**
**5,035**|_Total_
_funds_
_2020_
_£_
_2,730_
_1,769_
_72_
_5_
_-_
_-_
_4,576_|
|---|---|---|---|
## **7. NET INCOME/(EXPENDITURE)**
During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL). During the year, no Trustees received reimbursement of expenses (2020 - £Nil).
## **8. FIXED ASSET INVESTMENTS**
|**Market value**
At 6 April 2020
Additions
Disposals
Revaluations
At 5 April 2021
**Historical cost**
**Investments at market value comprise:**
Listed investments
All the fixed asset investments are held in the UK|**2021**
**£**
**259,832**|**Listed**
**securities**
**£**
**199,093**
**21,382**
**(23,742)**
**63,099**
**259,832**
**201,229**
_2020_
_£_
_199,093_|
|---|---|---|
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## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **8. FIXED ASSET INVESTMENTS (continued)**
## **Material investments - representing more than 5% of the portfolio valuation**
|Vanguard S & P 500
Fundsmith Equity income
Franklin Templeton
Sanlam Artificial Intelligence
JPM UK Equity Core
Blackrock Corporate Bonds
Artemis Corporate Bond
Polar Capital Technology Trust
**9.**
**DEBTORS**
Tax repayable
**10.**
**CREDITORS: Amounts falling due within one year**
Accountancy|**5 April**
**2021**
**£**
**17,842**
**17,794**
**16,382**
**15,124**
**14,595**
**-**
**-**
**-**
**81,737**
**2021**
**£**
**2,646**
**2021**
**£**
**5,379**|_5 April_
_2020_
_£_
_12,539_
_19,189_
_-_
_-_
_11,143_
_11,869_
_11,468_
_11,055_|
|---|---|---|
|||_77,263_|
|||_2020_
_£_
_2,646_|
|||_2020_
_£_
_2,538_|
Page 14
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## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **11. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
||**Balance at**|||**Gains/**|**Balance at**|
|---|---|---|---|---|---|
||**6 April 2020**|**Income **|**Expenditure**|**(Losses)**|**5 April 2021**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds|**100,809**|**4,298**|**(9,928)**|**-**|**95,179**|
|**Endowment funds**||||||
|Endowment Funds|**112,762**|**-**|**(3,027)**|**63,099**|**172,834**|
|**Restricted funds**||||||
|Restricted Funds|**-**|**36,000**|**-**|**-**|**36,000**|
|Total of funds|**213,571**|**40,298**|**(12,955)**|**63,099**|**304,013**|
|The restricted funds relate to a donation received from Millhouse Pension Scheme with the funds strictl||||||
|to be used for the purpose of the Elizabeth Landmark Project.||||||
|**STATEMENT OF FUNDS - PRIOR YEAR**||||||
||_Balance at_|||_Gains/_|_Balance at 5_|
||_6 April 2019_|_Income_|_Expenditure_|_(Losses)_|_April 2020_|
||_£_|_£_|_£_|_£_|_£_|
|General Funds|_6,252_|_98,349_|_(3,792)_|_-_|_100,809_|
|Endowment Funds|_149,837_|_-_|_(2,764)_|_(34,311)_|_112,762_|
|**Restricted funds**||||||
|Total of funds|_156,089_|_98,349_|_(6,556)_|_(34,311)_|_213,571_|
The restricted funds relate to a donation received from Millhouse Pension Scheme with the funds strictly to be used for the purpose of the Elizabeth Landmark Project.
## **SUMMARY OF FUNDS - CURRENT YEAR**
|**Balance at**
**6 April 2020**
**£**
General funds
**100,809**
Endowment funds
**112,762**
Restricted funds
**-**
**213,571**|**Income**
**£**
**4,298**
**-**
**36,000**
**40,298**|**Expenditur**
**e**
**£**
**(9,928)**
**(3,027)**
**-**
**(12,955)**|**Gains/**
**(Losses)**
**Balance at**
**5 April 2021**
**£**
**£**
**-**
**95,179**
**63,099**
**172,834**
**-**
**36,000**
**63,099**
**304,013**|
|---|---|---|---|
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DocuSign Envelope ID: AD15C586-EE12-475F-8888-408BFB6A0633
## **DEVONPORT CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **11. STATEMENT OF FUNDS (continued)**
## **SUMMARY OF FUNDS - PRIOR YEAR**
|_Balance at_
_6 April 2019_
_£_
General funds
_6,252_
Endowment funds
_149,837_
_156,089_|_Income_
_Expenditure_
_£_
_£_
_98,349_
_(3,792)_
_-_
_(2,764)_
_98,349_
_(6,556)_|_Gains/_
_(Losses)_
_Balance at 5_
_April 2020_
_£_
_£_
_-_
_100,809_
_(34,311)_
_112,762_
_(34,311)_
_213,571_|_Gains/_
_(Losses)_
_Balance at 5_
_April 2020_
_£_
_£_
_-_
_100,809_
_(34,311)_
_112,762_
_(34,311)_
_213,571_|
|---|---|---|---|
|||||
|||||
||||_213,571_|
## **12. RELATED PARTY TRANSACTIONS**
There are no related party transactions to disclose.
Page 16