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||||Page|
|---|---|---|---|
|Legal and administrative||information||
|Trustees' report||||
|Independent<br>examiner's||report||
|Statement offinancial|activities|||
|Balance sheet||||
|Notes to the financial|statements||7-14|





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|Trustees||Adrian Sell|||||||
|---|---|---|---|---|---|---|---|---|
|||Nicola Coggins|||||||
|||Edward Wiltshire|||||(Appointed|6October 2020)|
|||Mary Wiltshire|||||(Resigned|29January 2021)|
|Chief Executive and Secretary||Paula Grifgths|||||||
|Charity number||258699|||||||
|Principal address||1st Floor|||||||
|||8-10Upper|Marlborough||Road||||
|||St Albans|||||||
|||Hertfordshire|||||||
|||AL13UR|||||||
|Independent|examiner|Gilberts Chartered||Accountants|||||
|||Pendragon|House||||||
|||65 London|Road||||||
|||StAlbans|||||||
|||Hertfordshire|||||||
|||AL1 1IJ|||||||
|Bankers||HSBC Bank|pic||||||
|||1Market Place|||||||
|||Hitchin|||||||
|||Herffordshire|||||||
|||SGS 1DR|||||||
|Solicitors||SA Law|||||||
|||Gladstone|Place||||||
|||36-38Upper Marlborough||||Road|||
|||StAlbans|||||||
|||Herffordshire|||||||
|||AL1 3UU|||||||
|Investment|advisors|Rathbone|Gree nba|nk Investments|||||
|||10Queen|Square||||||
|||Bristol|||||||
|||8514NT|||||||





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|||||||General|General|
|---|---|---|---|---|---|---|---|
|||||||fund|fund|
|||||||2021|2020|
||||||Notes|6|6|
|Income from:||||||||
|Charitable<br>activities||||||||
|Investments|||||2|108,630|147,088|
|~ECh||||||||
|~Rii<br>1<br>4||||||||
|Trustees travel|expenses||||||473|
|Independent<br>examiner's|||fees|||2,560|2,984|
|Stockbroker fees||||||19,142|16,916|
|||||||21,702|20,373|
|Charitable<br>activities||||||||
|Depreciation||||||3p000|3,000|
|Grants||||||170,075|157,402|
|Charlton<br>Barn - Insurance||||||2,806|2,752|
|Chalton<br>Barn -|repairs|||||250|80|
|Legal and professional||fees|||||3,025|
|Website fees||||||133||
|Total charitable<br>expenditure||||||176,264|166,259|
|Net gain/(loss)|on revaluation|||of investments||966,366|(440,350)|
|Net gain/(loss)|on disposal ofinvestments|||||252,704|7,414|
|Net income/(expenditure)||||for the year/||||
|Net movement|in funds||||9|lp129,734|(472,480)|
|Fund balances|at 6 April||2020|||4,086,223|4,558,703|
|Fund balances|at 5Apdl||2021|||5,215,957|4,086,223|





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||||2021||2020||
|---|---|---|---|---|---|---|
|||Notes|E||E||
|Fixed assets|||||||
|Tangible assets||||105,925||108,925|
|Investments||||5,200,953||4,033,998|
|||||5,306,878||4,142,923|
|Current assets|||||||
|Debtors|||1,474||3,492||
|Cash at bank and in|hand||315,062||345,936||
||||316,536||349,428||
|Creditors: amounts|falling due within one||||||
|year||8|(7,583)||(6,254)||
|Net current assets||||308,953||343,174|
|Total assets less current liabilities||||5,615,831||4,486,097|
|Income funds|||||||
|Restricted funds||||399,874||399,874|
|Unrestricted<br>funds||||5,215,957||4,086,223|
|||||5,615,831||4,486,097|





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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2021|2020|
|||6|E|
|Income|from investments|99,993|139,705|
|Interest|receivable|8,637|7,383|
|||108,630|147,088|



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|Tangible fixed assets||||
|---|---|---|---|
|||land /|Barn Watarand|
||||E|
|Cost||||
|At 6 April 2020|||214,661|
|At 5 April 2021|||214,661|
|Depreciation<br>and impairment||||
|At 6 April 2020|||105,736|
|Depreciation<br>charged|in the year||3,000|
|At 5 April 2021|||108,736|
|Carrying amount||||
|At 5Apnl 2021|||105,925|
|At 5 April 2020|||108,925|





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|Fixed asset investm||ent|s|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Number of|Historic||||Histodic|||
|||||Ordinary|||||Cost||Market Value|
|||||Shares held|2020|Additions|Disposals|Adj Bookvalue|2021|2021|2020|
||||||E|6|E|||||
|tluoted<br>Investments||||||||||||
|Equity Investments||||||||||||
|Begway PLC||||1,700|49,412||||49,412|58,701|32,411|
|8HP Biaiton|||||36,323||36,323||||21,287|
|Civitas Social Housing|pic|||38,200||41,090|||41,090|41,103||
|Dechra Pharmaceutncals||||1,770|7,192||||7,192|60,923|42,338|
|Digital 9Infrastructure||pic||50,000||50,292|||50,292|50,375||
|Ecofin US Renew||||52,789||39,054|||39,054|38,932||
|Experian||||2,215|30,022||9,338||20,684|56,394|67,965|
|FDM Group Holdings pic||||3,700||33,439|||33,439|37,592||
|Genuit Group pic (formerly|||Polyp ipei|6,800|28,360||||28,360|38,556|28,356|
|GlaxosmithKlme||||3,140|40,106||||40,106|40,117|46,767|
|Greencoat UK Wind||||61,225|67,002||||67,002|79,225|80,939|
|Halma||||2,835|4,388||||4,388|69,117|53,567|
|Hill 8 Smith|||||35,224||35,224||||31,535|
|Home REIT pic||||47,000||47,285|||47,285|53,580||
|HSBC Holdings|||||40,262||40,262||||23,375|
|Impax Asset Management|||Group|5,700|21,7I 2||9,336||12,376|46,170|27,950|
|Intertek Group||||860|7,346||||7,346|49,192|38,339|
|Johnson Matthey|||||19,266||19,266||||20,471|
|Keller Group||||3,750|29,770||||29,770|30,450|18,825|
|Legal Ik General||||15,500|24,809||||24,809|43,943|24,754|
|Lloyds Banking Group|||||94,747||94,747||||29,004|
|Londonmetric<br>Property|||||47,358||47,358||||55,407|
||||||2,475||2,475||||2,954|
|Marks and Spencer|||||26,115||26,115||||4,061|
|MarshaasGroup||||6,365|10,354||||10,354|43,664|33,066|
|National<br>Grid||||2,869|15,870||||15,870|24,774|24,151|
|Nabonal<br>Grid||||3,800|29,046||||29,046|32,813|31,988|
|Octopus Renewable|Infra||Trust|50,236|50,529||||50.529|57,771|50,236|
|Oxford Instruments||||2,810|30,414||||30,414|56,341|33,102|
|Prudential||||2,700|15,506||||15,506|41,891|24,845|
|Reed Elsevier= Relx||||2,890|14,147||||14,147|53,032|48,740|
|Renewables<br>Infrastructure|||Group|76,388|76,788|8,541|||85,329|93,652|87,361|
|Sage|||||21,046||21,046||||43,512|
|Schroders 61voting|shares|||1,100|29,826||||29,826|39,017|25,531|
|Scoltish and Southern||||2,10D|29,839||||29,839|30,597|22,533|
|Smith 8 Nephew||||4,600|26,557||||26,557|62,537|62,698|
|Smith DS||||13,974|4D,824||||40,824|57,796|35,592|
|Spectris PLC||||2,000|26,804||||26,804|68,320|45,920|
|Spirax Sarco Eng-26.92p||||743|6,289||||6,289|86,114|58,400|
|UnBever||||1,500|47,108||||47,108|60,330|60,555|
|Unite Group||||4,127|15,419||||15,419|44,180|30,540|
|Victrex|||||31,684||31,684||||33,777|
|yodaphone<br>US 5 Ord||shares Workspace Group||19,656|27,328||||27,328|26,272|21,822|
||||||1,157,266|219,701|373,175||1,003,793|1,673,469|1,424,674|





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|Fixed asset investm|ents|||||||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Number of|Hlstoi'ic||||Historic|||
||||||||Ordinary|||||Cost||Market Value|
||||||||Shares held|2020|Additions|Oisposals|Adj BookValue|2021|2021|2020|
|||||||||||E|6||||
|Funds|||||||||||||||
|Alfen NV|||||||685||42,110|||42,110|42,116||
|ASML Holdings<br>NV|||||||160||46,975|||46,975|72„ri29||
|Assa Abloy NPV Ser 6|||||||2,600|38,277||||3$,277|53,962|35,854|
|Autodesklnc|||||||160||31,786|||31,786|33,203||
|Beyond Meatlnc|||||||38D||38,868|||3$,66$|35,991||
|BMO Inv Funds Lux - Resp Gbl|||EM Equity||R Acc||6,700|89,586||||89,586|105,123|76,782|
|BMO Inv Funds<br>UK - Respons||Gbl equity|||2 inc|||42,097||42,097||||108,859|
|Brown Advisory<br>Funds|||||||16,879|68,857||||6$,$57|255,731|175,550|
|CHR Hansen<br>Holdings|AS||||||195|9,842||||9,842|12,$32|11,776|
|CHR Hansen<br>Holdings|AS||||||600|35,856||||35,856|39,485|36,235|
|Edentree Investments|-Amity||Intl Bine|||||49,397||49,397||||55,833|
|Equmor ASA|||||||1,800|30,575||||30,575|25+79|18,971|
|Fund Partners - IM WHEB Sus|||C Inc||||29,480|29,692||||29,692|60,602|41,602|
|Fund Partners - IM WHEB Sustainability|||||8Acc||28,477|25,195|||276|25,470|59,801|40,528|
|Hannon<br>Armstrong<br>Suet Infra|||||||960||37,083|||37,0$3|37,112||
|Henderson<br>Global Investors||-|Global Care||||||||||||
|Growth<br>I inc|||||||38,000|83,826||||$3,626|18$,670|123,766|
|Herald Investment<br>trust||||||||24,060||24,060||||37,851|
|Impax Environmental|Markets|||PLC|||32,800|43,107||||43,107|144,9'76|80,688|
|Iniineon Technologies|AG||||||1,700||53,051|||53.051|52,564||
|KBIAsset Management||||||||29,471||30,276||||59,836|
|Koninklijke<br>Philips|||||||1,326|44,544|||||55,357|41,264|
|Legg Mason Global funds|||||||1,300||132,540|||132,540|163,131||
|Orated AS||||||||36,909||12,492||24,417|50,296|49,452|
|Pictet Asset Management|||||||300||73,257|||73,257|84.648||
|Property<br>Inc Trust for|chanty||||||81,944|69,346||||69,346|67,309|71,455|
|Robecosam Smart Energy Fund|||||||1,000|16,507||||16,507|46,850|23,810|
|Robecosam Smart Materials||fund - Materials||||C||29,496||29,496||||38,230|
|Rockwool Intl SA|||||||230|40,233||||40,233|70,217|32,338|
|Schroder investment|Management||||||420||48,876|||46,$76|73,557||
|Statoil Hydro (with Equlnor||ASA)|||||1,700|26,546||||26,546|24,063|17,917|
|Stewart Investors - Asia Sustain||||8Acc|||15,300|53,911||28,916|564|25,559|116,961|172,148|
|5tewart Investors - Gbl EM Sustain 8 Instl Acc||||||||50,244||50,244||||58,949|
|Vesta Wind Systems|||||||430|50,092||15,902||34,190|63,919|42,758|
|VISA Inc|||||||300|33,D81||||33,081|47,297|37,161|
|Xylem inc USS0.01|||||||1,000|53,186||||53,186|76,597|49,352|
|||||||||1,103,934|504,546|282,881|1,644|1,327,243|2,179,768|1,538,967|





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|Fixed asset investments|Fixed asset investments|Fixed asset investments|Fixed asset investments|||||||||||(Continued)|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Number of|Historic||||Historic|||
||||||||Ordinary|||||Cost||Market Value|
||||||||Shares held|2020|Additions|Oisposals|Adl BookValue|2021|2021|2020|
|||||||||||6|E||6|E|
|Gilts|||||||||||||||
|A20 Funding<br>PLC-4.75%bonds 18/10/2022|||||||20,000|20,150||||20,150|21,466|20,241|
|Aberdeen|Standard<br>Fund Man-Gbi|||index linked|||||||||||
|5 Instl Inc|||||||250,000|145,216||||145,216|151,525|146,250|
|Aegon Asset Mgmnt<br>lformerly<br>Kames Capital)-|||||||||||||||
|Ethical Corp Bond 8|||||||202,000|91,990|122,038|||214,02$|216,463|90,940|
|Euro Investment<br>Bank -2 5K bonds||||31/10/2022|||79,000|84,935||||84,935|82,771|$3,706|
|Isha res II|PLC - UK Gilts||UCITS ETF||||6,220|78,857|||6|78,863|85,693|91,994|
|Kreditanst||Fur Wie - 0.875'N Gtd Snr 15/09/2026|||||67,000||69,458|||69,458|68,370||
|Kreditanst||Fur Wie - 1.625tt GTd 5/6/2020||||||86,318||86,318||||86,303|
|Ra ho bank||N ederl<br>and -|2.25355nr MTN||||||||||||
|23/03/2022|||||||61,000|63,$67||||63,$67|62,221|60,979|
|Rathbone||Unit Trust Management||-Ethical Bond|||||||||||
|Inc|||||||157,469|157,117||||157,117|166,460|153,705|
|Royal London - Ethical|||bond 2 inc||||178,950|84,117|121,177|||205,294|214,561|87,616|
|Treasury|-|21/29S Stock 16/04/2020||||||60,075||60,075||||71,191|
|Treasury|-|21/2% Stock 17/07/2024|||||20,000|75,532||||75,532|71,644|72,432|
|Treasury|-|7/814 Stock 22/10/2029|||||100,000||101,908|||101,908|101,540||
|||||||||948,174|414,581|146,393|6|1,216,368|1,242.716|965,358|
|||||||||3,209,374|2,138/I28|802,448|1,651|3,547,405|5,095,953|3,928,998|
|Unquoted||Investments|||||||||||||
|Investment||Propereas|(Luton) Limited||||||||||||
|Ordinary|shares of El||each||||75,000|105,000||||305,000|105,000|105,000|
|Tote Ivalue ofinvestments||||||||3,314,374|1,138,828|802,448|1,651|3,652,405|5,200,953|4,033,998|
|7||Debtors|||||||||||||
|||||||||||||2021||2020|
|||Amounts|falling due within|||one|year:|||||E||E|
|||Cash held|by Rathbone||Greenbank|||||||1,474||3,492|
|8||Creditors:|amounts|falling||due|within one|year|||||||
|||||||||||||2021||2020|
|||||||||||||E||g|
|||Accruals||||||||||7,583||6,254|





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|||Brought|Movement|2021|2020|
|---|---|---|---|---|---|
|||forward|in year|||
|||E|E|||
|Unrestricted|Funds|||||
|General Reserve||4,086,223|1,129,734|5,215,957|4,086,223|
|||4,086,223|1,129,734|5,215,957|4,086,223|
|Restricted Funds||||||
|Permanent|endowment|399,874||399,874|399,874|
|||399,874||399,874|399,874|



||||Brought|Movement|2021|2020|
|---|---|---|---|---|---|---|
||||forward|in year|||
||||E|E|||
|Distributable|||3,366,599|300,810|3,667,409|3,366,599|
|Non-distributable|-revaluation|reserve|719,624|828,924|1,548,548|719,624|
||||4,086,223|1,129,734|5,215,957|4,086,223|





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