2020-12-31-accounts

		Page
Report ofthe Trustees
Independent auditor's	report to the Trustees
Statement offinancial	activities
Statement offinancial	position
Statement ofcash flows		10
Statement ofaccounting policies
Notes to the financial	statements	14

Trustees		A A Reeves
		Mrs SRBeard
		M W Thowless-Reeves
Auditors		RSM UK Audit	LLP
		StPhilips Point
		Temple Row
		Birmingham
Bankers		Handelsbanken	pic
		1 Lakeside
		Festival Park
		Stoke on Trent
Investment	managers	Sorbus Partners	LLP
		41n Enstgnte Street
		Stafford
Registered	office	The Bradshaws
		Codsall
		Staffordshire
Legal advisers		Freeths LLP
Charity		271526
		EW40151

					2020	2019
		Note	Endowment	Unrestricted	Total	Total
			Fund	funds
Income
Investment income		1(a)		92,257	92,257	145,805
Total income				92,257	92,257	145,805
Expenditure
Cost ofraising funds:
Investment management	costs	1(b)	19,678		19,678	19,479
Facilities and accountancy	costs	1(b)	7,875	12,504	20,379	22,471
Expenditure on charitable	activities
Grants paid		1(b)				296,000
Grants committed		1(b)		72,000	72,000	56,000
Total Expenditure			(27,553)	(84,504)	(112,057)	(393,950)
Net income/expenditure
before gains
and losses on investments			(27,553)	7,753	(19,800)	(248,145)
Net gains/losses on investments			(82,286)		(82,286)	604,499
Net income and net movement		in funds	(109,839)	7,753	(102,086)	356,354
Reconciliation offunds:
Brought forward			4,840,482	112,495	4,952,977	4,596,623
Total funds ofthe Endowment
carried forward			4,730,644	120,248	4,850,892	4,952,977

			Note	Capital	Unrestricted	Total	Total
				Endowment
Fixed assets
Investments			3	4,729,423		4,729,423	4,829,786
Current assets
Cash at Bank				9,661	I.99,123	208,784	192,931
Current liabilities
Creditors amounts		falling	4
due within one	year				(78,875)	(87,315)	(69,740)
Net current assets				1,221	120,248	121,469	123,191
Net assets			6	4,730,644	120,248	4,850,892	4,952,977
The funds ofthe charity:
Capital Endowment				4,730,644		4,730,644	4,840,482
Unrestricted					120,248	120,248	112,495
Total charity	funds			4,730,644	120,248	4,850,892	4,952,977

			Note	2020	2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/ (expenditure) for the reporting	period			(102,086)	356,354
Investment/ (gains)/losses				82,286	(354,499)
Increase/(decrease) in creditors				17,575	(23,153)
Investment income received				(92,257)	(145,805)
NET INCOME USED IN OPERATING ACTIVITIES				(94,482)	(167,103)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment income:
Interest received				3&6	301
Dividends received				58,669	93,027
Rent received				33,233	52,477
Proceeds from sale ofinvestments				558,685	323,309
Purchase ofinvestments				(540,608)	(244,451)
NET CASH GENERATED FROM INVESTING ACTIVITIES				110,335	224,663
INCREASE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD				15,853	57,561
Cash and cash equivalents at the beginning	ofthe reporting	period		192,931	135,370
CASH AND CASH EQUIVALENTS AT	THE END
OF THE REPORTING PERIOD				208,784	192,931

1.	Statement offinancial	activities
a)	Investment income		2020	2019
	Unrestricted funds:
	Bonds		7,636	8,647
	Equities		46,644	68,283
	Property (funds)		4,744	16,398
	Property (direct)		33,233	52,477
			92,257	145,805
b)	Total resources expended		2020	2019
			Support
			Costs	Total
	Unrestricted:
	Charitable activities:
	Grants		72,000	352,000
	Facilities/accountancy	costs	12504	14808
			84,504	366,808
	Endowment:
	Investment management	and
	custodial costs		19,678	19,479
	Facilities/accountancy	costs	7,875	7,663
			27,553	27,142
	Total Resources expended		112,057	393,950

2.	Net movement	in funds
			2020	2019
	Net movement	in funds for the financial year is stated
	after charging:
	Auditor 's remuneration		6,840	6,780
	Indemnity insurance ofTrustees		942	942

				Prop	Prop	Total
	Cash	Bonds	Equities	(funds)	(direct)
At beginning ofyear	269,461	341,321	1,991,773	127,231	2,100,000	4,829,786
Gains/(losses)		(925)	(78,081)	(3,280)		(82,286)
Additions		58,092	482,516			540,608
Di sposa la
at crying value	(174,398)		(384,287)			(558,685)
at end ofyear	95,063	398,488	2,011,921	123,951	2,100,000	4,729,423

Amounts	falling due within	one year
			2020	2019
			Total	Total
Accruals	and deferred income		15,315	13,740
Accruals	for grants payable	in 2020 (2019)	72,000	56,000
Total			87,315	69,740

Analysis of	charitab	le funds
						Carried
		Bfwd	Income	Expenditure	Gains / losses	forward
Endowment		4,840,482		(27,553)	(82,286)	4,730,644
Unrestricted	funds	112,495	92,257	(84,504)		120,248
		4,952,977	92,257	(112,057)	(82,286)	4,850,892

6.	Analysis ofnet assets between	funds
	Investments		Cash at	Creditors	Net assets
			bank
	Endowment	4,729,423	9,661	(8,440)	4,730,644
	Unrestricted		199,123	(78,875)	120,248
		4,729,423	208,784	(87,315)	4,850,892

Grants
1972 - 1990	1,157,476
1991-2007	2,516,000
2008 - 2020	2,170,761
	5,844,237