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 Tn￿te¢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 Tn￿t 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 H￿th. T. F. C. Frort Cb*ritable Trn8t Trust Deed dated 23vd sept￿ber 1966 Registered Charity 256590 Tn￿tee# 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¢Count￿ts Hohncs & Co Ltd 10 TO￿l￿gLOn 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. F￿￿t 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 Ma￿h 2021. Half-yearly reports were received from the ￿CIPlents and wer¢ Circula￿ prior to the meeting togeth¢r with fi￿dIng applicatio￿8 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 Tn￿t for the year endol 5th April 2021. which are sel out on pages 5 to 9. R¢specifve responsibilities of TruJtee8 and Ex￿niner The charity's trustees are respK)nsible for the prq)aration of the aLYounts. The charity's tr￿leeS 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 Inde￿dent 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 Un￿8val 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 aC￿Unting 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 ￿UirCn￿ts 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&8￿Yg4in$ Broker & Bank Int¢rest Foreign and In￿rne tsx PAid 23,653 15J33 38245 2.722 Tot•1 ID¢oJni4g ReAo#rt¢ 39.087 44,315 R*8oure¢J Expemd¢d Ik8nts & DoDations PrOfe￿lOn81 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 R￿lIsed {lossesyBains Unre81is¢d (1088¢sy8air 141288 126,661 (90.554) 491,015 Net Mov¢m•Dt Im Fund* 26&968 371,720 Fumd hl*DCe5 browght for￿rd It 6th Aprll capi￿ A￿ollnt 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 a￿oUnt 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