T. F. C. Frost Charitable Trujt Aeeounts for the year ended yb Aprll 2021
T. F. C. Frost Charitable Trust Aeeounts for the year ended 5th Aprll 2021 Page Funding Principles of the Tnjst Tnte¢S and Professional Advisors ReFK)rt of the Tn Independent Examiw's Rep Statem¢nt of Financial Activiti¢s Balance Sheet Notes to the Ae¢ouats A¢¢ountin8 Policies Donations Donation conunitments against firture inwme Appendle Investhjents & Net Inwme (incl Portfolio Valuation) Sale of Invastments
T. F. C. Frost Charitabk Tnt Funding Prineiples of Ihe Trust Our Founder's wish in estab]isknDg the Frost Charitable Trust was to fos*r reseatth into the prevention of blinthess by suppoiting programes submitted by senior trainees and by enhancing their horiznns by underwriting the costs of educational or research periods of Ining at bome or abroad at recognised centrs. He not in favour of the Trust's financing of the Health SeThice by underwriting staff salaries which he re8arded as the resFvnsibility of the tkpartm¢nt of Hth.
T. F. C. Frort Cb*ritable Trn8t Trust Deed dated 23vd septber 1966 Registered Charity 256590 Tntee# Tknm8s A. F. Fnist F. C. A. (Chairperson) Michael H. Miller. M.D., F.ILC. S (Gl&sg), FRCOphth Professor Jokn Marshall. BS¢lbons). PhD, F. IL C. F.L.I.A, F.IIS.A Dr Elizabeth Graham Keith Barton MD FRCP FRCS Lucy Howe BA (Oxon). MB BS. FRCOphth Natwest Bank plc Southampton Customer Servicx Centre Brunswi¢k Gat¢ 23 Brunswick Plac¢ &)uthampton SOI 5 2AQ Bank¢r8 R¢portlng A¢Countts Hohncs & Co Ltd 10 TOlgLOn Ro Claygate, Esher. Surrey KTIO OSA Stoekbrokerj Ruffer LLP 80 Victoria Street London SWIE 5JL Sollelto CharlesRussell Spe<£lLIys 5 Fleet Pknce London EC4M 7RD
T. F. C. Ft Cknritabk Trn•t Report of the Trustee8 for the yev ended 5th April 2021 A virtual meeting of the Tnjstees took pl&e on the 4th Mah 2021. Half-yearly reports were received from the CIPlents and wer¢ Circula prior to the meeting togeth¢r with fidIng applicatio8 following interviews, were discussed at the m¢¢tings by the Trustees. Future donation wn)mitni¢nts and All funding was distribu*d via a Hospits] or University. Thomas A. F. Frost Michael H. Miller Dr EIizAbeth Grabam Professor Jolll) MarshaIl Keith Barton Lucy Howe Date: 15th December 2021
T. F. C. Fnpjt Charitable Trust Independent Exmiiner's Report to the Trnte¢s of the T. F. C. FroJ¢ Charitable Trust I re)rt on the accounts of The Tnt for the year endol 5th April 2021. which are sel out on pages 5 to 9. R¢specifve responsibilities of TruJtee8 and Exniner The charity's trustees are respK)nsible for the prq)aration of the aLYounts. The charity's trleeS consider that an audit is not required for this year under section 144(2} of th¢ Clwiti¢s Act 2011 (the 2011 Act) and that an Indedent examinthon is needed. It is my resp)nsibility to: examine the accounts under section 145 of th¢ 2011 Act follow the pnKedures18id down in the general Directions given by the Cl)arity Commission under section 145(5)(b) of the 2011 Act: and to state whether particular matters have rA>me to my attention. Bash of Independent Ex4mlneWs Report My examination was catried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a Comparison of the awunts presented with those records. It also includes consideration of any Un8val items or disclosures in the accounts and seeking explanations from you as trIL8tees concerning any such matters. The procedures undertaken do noi provide all the evidence that would be required in an audit, and consequently no opinion is given as to whethtt the aewunts present a 'true and fair view, and the rep)rt is limit¢d to those n]atters set out in the statement below. Independent Exwlner'i Statement In connection with my examinatio no nkn has wme to my attention: which gives me reasonable cause to believc that in any n)ater1 r¢spect the requifflnents: . to keep aCUnting records in acwrdancc with section 130 of the 2011 Act and . to prepar¢ aco)unts which >[d with the accounting records and to comply with the countIng UirCnts of the 2011 Act. have not b¢en met. or 2. to Whic in my Opinio attention should be drnvm in ord¢r to enabl¢ a pmper understanding of the accounts to be reAehed. Holmes & Co Ltd Chartered Accountants Claygate Dal¢". 15th December 2021
TJ.CJn Charitabk Trnst Stat¢menl ofFiuD¢lal Artivities For the Year Ended 5th Apiil 2021 202 IDeomkng Rejoure Net Dividends Exchange rnte 00&8Yg4in$ Broker & Bank Int¢rest Foreign and Inrne tsx PAid 23,653 15J33 38245 2.722 Tot•1 ID¢oJni4g ReAo#rt¢ 39.087 44,315 R8oure¢J Expemd¢d Ik8nts & DoDations PrOfelOn81 Fees Holmes & Co Ltd C F Ruffer Bank charg¢s Total Rew•r¢u EIpetyde41 35,875 5287 32281 5287 31.802 38,068 73,056 ID¢OmtDW(O•ts0ts for th• Ymr 1.019 (28.742) Net Mov¢m¢nt in value of inv¥lmth RlIsed {lossesyBains Unre81is¢d (1088¢sy8air 141288 126,661 (90.554) 491,015 Net Mov¢m•Dt Im Fund 26&968 371,720 Fumd hlDCe5 browght forrd It 6th Aprll capi Aollnt Income a¢couot Meetin83 3,829J73 (273.451) 3,428,913 (244,711) 3556528 3.184,808 Fund Balan¢¢8 rrfed forw*rd at 5th Aprll Capitsl AccouD¢ Income aoUnt Me¢tings 4.rfflJ22 (272.432) 3J29J73 (273,451) 606 3,825.496 3,556.528
al Mthrket V*lw¢ 3,715.015 3.089.180 Cwrrent Amets Cash at Bank Cumt ac<t Cash at Brokers. Inves)D¢th 247 461J42 101.029 110.495 Aed dRvid¢nd incom¢ Accrued fres 467.789 (14) (14) (441) Net AM•ts 3I2S496 3J56J28 Vund8 Capitsl Incom¢ (incl Desi Fwth- th 2) Meetit 4,097322 (271432) 3.829.373 (273.451) 3I2S496 3J56J28 Tlb)m¥ A.F.Frost Ch•innon Dr Ellbeth Gwaham Keith B8rt( 15th December2021
T. F. C. Frojt Cbaritabk Tnt Notes to the AeeouDts Aeeounting Polieiej The accounts have been prep8red in acLx)rdance with applicable accounting standards and th¢ Ststemcnt of RmMellded Practice: A¢Lunting by CEwities. The legal requirements are contsined in Part Vl of the Charities Act 1993 amend¢d). The Charllies (Accounts & Reports) Regulations 1995 and the Clwities (Annual Return) Regulations 1997 issu¢d by the Charity Commissioners, and the Statement of Reo)mmended Practice: Accounting and Reporting by Chtiritie4 and th¢ Companies Act 2(M)6. There are restricted funds of £20,0(K) deS118t¢d for Glaucoma projects. Unrestricted funds are expendable at th¢ discretion of th¢ Trustees in fUther of the obJts of The Trust. A c&8hfiow statement has not been epar in accordance with Financial R¢porting Statement l as both The Trust kncome and The Tn Assets fall outside the minimum si2e qualifications. There are no ¢mploy¢¢& The Trust does not trade, but its income is derived from the dividends and profits of its portfolio of slwes. and int¢r¢st on uninvested ¢aslL
T5.Ct Charilabk Tnt Notej to the Ac¢ouDts Donalionj 2021 Charltable donatlons (in memory of Lady Heather Miller) 51J) 500
T.F.C.Frost ChrRtble Trust Notu to the Accounts DI1501 CoJnmitm¢•ts from 6th Aprll 2021 Aglknt Fmtsre Income 021 Sigbt Rer¢b UK (fornlally NERC) 214 22,4 214 67,470 22.49) 22.4 214 67.470