2021-04-05-accounts

Principal	address:		Acre House,
			11-15William Road,
			London NW1 3ER.
ACCOUNTANTS		AND SECRETARIES
H.W. Fisher at Company:			Acre House,
			11-15William Road,
			London, NW1 3ER.
Independent Examiner:			James Fletcher,
			Crown Chambers,
			Bridge Street,
			Salisbury,
			Wilts, SPI 2LZ
SOLICITORS
Withers LLP:			16Old Bailey,
			London, EC4M 7EG
Michcimorcs LLP			Woodwater House
			Pynes Hill
			Exeter EX2 5WR
BANKERS
Kleinwort	Hambros		Capital Building
			12-13St Andrew	Square
			Edinburgh EH2	2AF
INVESTMENT ADVISORS
Kleinwort	Hambros	Limited	Norfork House
			31StJames's Square
			London SW1Y4JR
Signed:	David B.Hammerson				Trustee
	Mrs Patricia A. Beecham				Trustee
	Anthony J Bernstein				Trustee
	D.Rory Hammerson				Tlustcc
	Louise W	Waidhofer			Trllstcc
	Arabelle Z Parr				Trustee
	Karen LMckay				Trust'cc

		Notes		2021			2020
			Capital	Incom«	Total	Capital	ln«orna	Total
				8				2
INCOME AND ENDOWNMBNTS
Investment Income:
Dividends/Interest Received (Gross)				31,959	31,959		58,314	58,314
Bank Interest Received (Net)				2280	X&80
Income Tax Recoverable				158	158		2237	2,237
Tax Repayment Supplement							12	12
TOTAL INCOME				34,397	34,397		60363	60363
EXPENDITURE
Costs ofgenerating funds
Investment management costs		4	(29,968)		(29,968)	(25,676.0)		(25,676)
Charitable activities
Health care and religious causes				(32,614)	(32,614)		(29,930)	(29,930)
TOTAL EXPENDITURE			(29,968)	(32,614)	(62,582)	(25,676)	(29,930)	(55,606)
NET INCOME/(EXPENDITURE)	BEFORE
GAINS/ (LOSSES)ON INVESTMENTS			(29,968)	1,783	(28,185)	(25,676)	30,633	4,957
Gains/(losers) on Investments
Realised			70,659		70,659	(27,829)		(27,829)
Unrealised			375,622		375,622	(350,878)		(350,878)
Gains/(losses) on Foreign Fxchange
Unrealised		9	(2,562)		(2,562)	639		639
			443,719		443,719	(378,068)		(37&,068)
NET MOVEMENT IN FUNDS			413,751	1,783	415,534	(403,744)	30,633	(373,111)
BALANCE BROUGHT FORWARD AT 6th APRIL 2020			2,006,&01	97,602	2,104,403	2,410,545	66,969	2,477,514
BALANCE CARRIED FORWARD	AT 5th APRIL 2021		2,420,552	99,3&5	2,519,937	2,006,801	97,602	2,104,403

			Market Value	Market Value
		Holding	at 6.4.2020	at 5.4.2021	Income
	Hammerson pic
	25p Ordinary shares	46,753	25409	3,163		15
	SGHambros Portfolio		1,984,299	2,439,189	31,944
	TOTAL		2,009,508	2,442,352	31,959
	Market value at 6th April 2020			2,009,508
	Disposals at opening book value			(531,600)
	Acquisitions at cost			778,890
	Decrease in cash balance			(190,068)
	Change in value during the year			375,622
	Market value at 6th April 2021			2,442,352
	The investments are held and income arises from:			I
	UK Quoted Securities			2,193,247
	Non UK Quoted S«curittes			36,152
	Cash held by Brokers			212,953
				2,442,352
	Historical Cost:
	At 5th April 2021			2,195,922
	At 5th April 2020			2,142,412
3	TOTAL EXPENDITURE
		Other	Grant	Total	Total
			funding	2021	2020
				5	f
	Costs ofgenerating funds
	Investment management costs	29,968			25,676
	Charitable activities
	celt careen rdi io scauscs
	Grant funding ofactivities	4,049		32,614	29,930
		34,017		62,582	55,606

											2021f	2020 I
	Other costs	ofgenerating		funds comprise
	Accountancy	and taxation fees									8,403	6,117
	Legal and professional		fees								7,485	5,425
	Investment	management		fees							14,080	14,134
											29,968	25,676
5	ACTIVITIES UNDERTAKEN DIRECPLY
											2021	2020
											f	f
	Other costs	relating to	health		care	and religious			causes comprise
	Accountancy	and taxation fees									3,089	?„038
	Trustee expenses											122
	Bank charges and interest											3
	Independent	Fxaminers'		fees								960
											4,049	3,123
6	GRANTS PAYABLE
											2021	2020
											f
	Grants were	made to the		following		institutions			relating to health care and religious causeu
		AJ gc SD		Bernstein		Charitable			Trust		10,000	10,000
		Sue gc Lew Hammerson					Charitable			Trust	3,565	1,807
		Patricia	Eeecham			Charitable		Trust			15,000	15,000
												26,807
7	GOVERNANCE COSTS
											2021	2020
											f	I
	Other governance costs		comprise:
	Independent	Examiners'		fees
8	REALISED	PROPIT/(LOSS)
											2021	2020
												f
	Profit/Joss)	on Disposal		ofListed		Investments					70,659	(27,829)
											70,659	(27,829)
9	UNREAUSED PROFIT/(LOSS)
											2021f	2020 f
	Profit/(Lom)	on Revaluation			ofInvestments						375,622	41,512
	Profit/(loss)	on Foreign	Fxchange								(2,562)	639
											373,060	42,151

10	DEBTORS
															2020
															2
	Tax recoverable												2,395		2237
															2,237
11	CASH AT BANK
													2021		2020
	SG Hambros												H7,321		96,505
													117,321		96,505
12	CREDITORS
													2021		2020
													6
	Sue Hammerson		Trust G										36,191		1,191
	Sue gr Lew Hammerson			Charitable			Trust						831		831
	Accruals												5,109		1,825
													42,131		3,847
13	ANALYSIS OF		NET ASSETS BETWEEN FUNDS
												Capital	Income		Total
	Fund balances	at 5 April		2021		are	represented		by.
	Investments											2,442,352			2,442,352
	Debtors											158	2,237		2,395
	Creditors											(40,067)	(2,064)		(42,131)
	Cash at Bank											18,109	99,212		117,321
												2,420,552	99,385		2,519,937
14	CAPITAL ACCOUNT
											2021			2020
	Balance brought		forward		at 6th April 2020							2,006,801			2,410,545
	Less:	Profit/(loss)			on	sale	ofinvestments			70,659			(27,829)
		Profit/(loss)			on	Foreign Exchange				(2,562)			639
		Net movement				tn market		values		375,622			(350,878)
		Fxpenses		(Note		4)				(29,968)			(25,676)
												413,751			(403,744)
	Balance carried		forward	at 5th		April 2021						2,420,552			2,006,801

			2021	2020
			5	I
Balance brought	forward	at 6th April 2020	97,602	66,969
Net Income for	thc y«ar		1,783	30,633
Balance carried	forward	at 5th April 2021		97,602