OTTO GIESEN FUND
ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022

OTfo GIESEN FUND
ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2022
CONTENTS
Page
Truste¢$' Report
Indewndent Examinerfs Report
ststement of Flnandal Acllvttles
Balan¢0 Slwl
C8shflow Statement
Not&8 to ts Accounts
10-19

OTh0 GIESEN FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JANUARY 2022
Charity roglBtratlon numbor
281199
Prfnclpal •ddro¥s
Mr R Morfey-Jacob
S8cretary to th8 Trustees of th8 Otto Gies8n Fund
2 Lambs Passaga
London
EC1Y 8BB
Tr￿￿•*
Trgxco Limited
R J Donovan
M A Wh¢lton
V MocDuff
R J Clark
Ind•p•nd•nt Examlnèr
John Stanrforth
Moore Klngston Snlth LLP
Devon8hlre Hou88
60 Goswell Road
London
EC1M 7AD
Account•nt•
Moor6 Klno8ton Smlth LLP
Devonshire Hou36
60 Goswell Road
London
EC1M 7A0
Soll¢ltor•
Slaughtèr and May
Onè Bunhlll Row
London
EC1Y 8YY
8ank•rn
Nayonal W981mln8tsT Bonk PIC
49 Bl$hop$galo
London
EC2N 3AS
Inve8trn•nt managern
JM Flnn & Co
4 Coleman Street
London
EC2R STA
Stru
ture Gove
00￿mIng document
The I￿11 of H81@n M8rth8 Glasan l￿dOW of Otto Gl980nl do18d
20 Dac8mb8r 1976. vtho dl8d on 28 January 1980.

OTh0 GIESEN FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JANUARY 2022
Tru8t•• sèl•ctlon methodg
The Trugt$es mgy appoint a ngw Trustae to replacg o rotirfng
Trustee of appoint an addluonal Trusleg or Twsteos.
Rl#k pollcy
Tho Charlty Commlsslon's Int•m81 Ilnand81 control ch8cMlst Is
Complètèd and r8viwd annually. At thè sam8 timè, thè m8jor
rfsks lo wthlch thè Fund is gxpos8d arg con$id$rod and whère
nec&ssary, st8PS 8r8 1ok&n to mitigatg and minimise those risks.
Iv
ObJ•cts
The maln Ob￿Cl of the Fund18 to cary out the terms of the
Trust.
The lernis of the Trust are that the a88ets of the Fund bre held
on Charllable Trusts for the ben8fi1 of such partner3, employees,
forrner partners and former 8mployees of Slauthter and May
I'the Fim'l and th8lr spou888, widows, wd¢)%%*rs, thildr8n and
othèr dep8ndanls as tha Tru8te88 shall solect as bolng In n8ed
of flnanual a881stance.
Furthemiorg Ihe trust parmits the %tho1o or any part or part8 of
tho Incomg lo bg di$lrlbu18d for any ¢haritobl¢ object or PU￿098.
The Trustees have given considerallon lo the CharSty
Commlsslon's gèneral guldanc8 on public beneflt.
The Trustees have made the managem8nl of the Flrm aware of
the Fund'8 objeelwè8 and its abillty lo provlde both long lem
8nd short term 8UPPOrt.
1118 the Tru818gs' pollcy lo ￿ntInue lo relnforce Ihls ￿th th8
Flmi's manoggmgnl, so that Ih8re Is opproprf81g awareness of
tho ob￿¢1$ of thg Fund.
The Flrm provkles 8ècrelarfil and odminlslrthè a88lstAncè to
tho Trustees.
There have been no change8 in the aim8 or org8ni8aUon of the
Fund In the past year.
Grantmaklng poll¢y
Tha Trust998 re￿&W gach appli¢otbn on an Ind￿ldY01 ba$l¥.
Assislanco is tailored to the sp&crfic need of th8 ban8f￿ary,
provided the objects of th• Trust afe satisfied.

OTh0 GIESEN FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JANUARY 2022
hl
rnian
Achlov•mnts
Durtng th8 year ended 31 January 2022, the TruBlees ￿ntInUed
to identify new boneficAaries and to 5UPPOrt exlsling
bonefKiaries. partners of Slaughter ￿￿j May and BusSness
Services Dlrector6 are Terninded annualty ol the existence of tha
Fund. All penS￿￿er5 ol Slaughter and May receive a leit8r at
Tegular intervals reminding them ol the oxlslence of the Fund. A
refer8nce lo the Fund Is also ¢ontain8d Mthin lh8 Slaughtgr and
May Employee Handbook Bnd thè fimi's Empk)y86 Assistance
Programm8 guidancè notas, all ol vthich help to identty naw
potèntial b8n8fici8ri6s.Granls ￿re awarded lo thirteen
b8neficlarl8s In th& y8ar12021: nine). Four now loans wgre
aw8rdèd In the ye8r12021'. throg) and fivg ban$ ¥%pre ¢onvert8d
10 8 granl12021.' ong). Elevon bengfiuarlos ¢ontinuad to repay
Iholr ban8 durtng thg yoar (2021.. nin81-
Flnanclal Rovl•w
Th8 flnandil 8tstemènts are 881 out ¢)n page8 7 10 19.
Therg Wgre no m8tgdal changas to the accountlng pollrAes In the
yoar.
Durlng the year ¢*8rftabl& grBnts of £27,099 Bnd loans of
£78,000 ￿ra mad8 to b8n8ficiarie$12021'. grants of £8,944
antJ108ns of £24,200). In addillon. flvg loan$ 01 £15,850 10
btneflci8rf88 wero convgrted Into a granl12021.' gne10gn of
£20,000>. Tolol unre$lricted funtJ$ of £92,59812021.' £157.2441
are availgble for dislrtbullon to tho benoflclaries 88 r8qulred In
the next flnandal year.
The galn on InveslThnls in the year lotall8d £46,93512021.' galn
of t74,6221,18aving a nèt de¢re88e in fund8 of £35,03912021'.
Incr883• of £48,623).
Provl8lon8 8re made ag8in81 loans to beneficlaflos
¢onlacl has been108t betswn the b8noficlary and thg Trust8e$
8ndlor wher6 the prospect of108n recovery Is exc88dlngly
remote.
The Truste08 plan to cOn￿n￿O carying out the terms of thè fNsl
In future ygars.
Gonerally. 11 Is the Truste85' pollcy to m8lnt8ln the capital value
of the assets In re81 terms. ￿lIst applwng only income towards
dlr8Ct charitable exponditurè. 11 Is hoped that Ihls polbcy b%yll
8nsure thBI the Fund has $ufflci8nl funds to continue lo meet M8
objectives in future years. Howgvgr, the Trustees have full
discrelkjn and rnay choose lo appty all the assots 10 8
b8nellciary or b8neficiaries al any time.
R•s•ThT•• poIIcy
conl...

0￿0 GIESEN FUND
TRUSTEES. REPORT
FQR THE YEAR ENDED 31 JANUARY 2022
R••ervtJ poliGy l...conti
At Ilmes,11 may be appropriate to build up income rèsarv&s,
since the demand frorn benelicAaries for assistancè from the
Fund occur3 on an irregular basis. 11 demands from
benefSciarfe8 on the reserves fise suddenly. for examplg wh9re
888Sstance Involves part purchases of residential propety, the
Tru81ees have 8b8olule discretion lo use the expendable
8ndowm&nt.
Totsl lunds hèld by the Trust were £1.629,620 at thg ygar end,
comprising the expendable endowment of £1.537,022 and
unreslrfcted lun(J8 available lor dlslrfbulion of £92,598. Th
unreslrfcted funds represent th8 free TeBerves ol th8 Fund.
Inv•*tm•nt pollcy
The Trust Instrument glves the Truslee8 the power to invest in
such assets of whatever natur8 as th8y think fll. Including th8
Powgr to purchaso prop&ty for the ¢XCUPation of a ben&fI￿ary
and to purchasg chattelg for the u8e 018 beneflciary.
Tho TnJste88 havo molntolned an Investment pollcy lo achieve
thè best posslble retum on Ihg agsgts ￿thOut un8￿pIable
lèvels of r18k.
Ourfng the ye8r. the ossats of the Fund wgrg Invg8ted In brogdly
the followlng proportlon8:.
UK Equ11188
Overseas Equrtle8
Bonds
Igmallvo A8$918 Ilndudlng Propetyl
Cash
31%
35%
10%
22%
Invmtmont pertorman
The 88sets ol the Fund are managed by JM Flnn & Co who
hav8 a dlscretlonBry investment rnandale, almlng Its achieve 8
balancad return from Income and caplt81 growth.
Durfng the ygar. the total retum of th8 Fund w88 8n increaBe of
4.2%12021- increase 017.0%). A typical charlty asset allO￿ti
of 70% FTSE AJI Shares and 30% FTSE Gilts has bèan 8gr&8d
85 8n appropriate benChrna￿. This b8nchrnark all￿atIOn
InCrea￿d by 11.1%12021.. decreased by 4.4%).

orro GIESEN FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 JANUARY 2022
Stat￿)￿nI of Tru$tsos' RosponslbllltSes
The Trust9es are respon$lble for preparfng lh8 Trust88s' Annual Raport and the financlal statgrnants in
accordanc8 wtth appllcabl8 law and Uni18d Kingdom Gen8rally Acc8pt8d Accounting Practic8 (Unilod
Kingdom Accounting StaThJardsl.
The law applicable to charities in England and Wales requires Ihe TfUStee5 to prepare financial
statements for each financial year which give a true and fair of th8 slate of affairs of the charity and
of the incoming resources and applicalion of resources of the charity for that period. In preparing these
financlal $la18menl8, the Trustees are required to..
8elecl 8uttable accounllng pollcles and then apply them conslslonlly,
observe the mgthods and prlndplos In the Charftlg8 SORP.
mak8 ￿dgMentS and 98￿met99 thal are r88son8bl8 and prud8nL'
8ts18 whether 8ppllcable accounllng standards have been foll0v￿d. SUb￿Cl to any malerfal
departures dlsclose(J and explalned In the fInan￿al slalements.,
prgporg the flnan¢io1 $1otgmonts on thg gdng Goncam b8818 unl8ss k18 In8pproprfgtg to presurng
that the ¢hartty wll Gontinue In business.
Th8 Tru8t688 are respc)nslble for keeping adaquale accounllng records that ar8 suffidènt to show and
explaln the chartly'8 Iran88cllons, dlsc108e wllh reasonable accuracy 81 Bny tlme the ffinanclal po8lllon ol
th8 thBrity and enable them to ensure that the flnanclal staterr￿niS cornply wlth the Charttl88 Act 2011.
the CharS1588 IAcLounlB and R8POrt81 Regulauons 2008 and Ihg pro￿￿10n5 of the chBINy's con8tltutS0n.
They ar8 a150 responslble for saleguardlng the 888815 of the chailty and hence lor Ill￿ng reasonable
steps for the preventlon 8nd detscuon of fr8ud and other Irregularliles.
Tho Tru818es dodare that they have approvod tho Trusle&8' Roport above.
d on tehalf of the TnJ8tee$
e Fund'.-
V M8cDuff
Trusteg

OTTO GIESEN FUND
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2022
I rew)rt lo the Tnjstees on my ex8mbna￿On of the accounts of the Otto Giesen Fund for th8 year ended
31 January 2022.
R•spon#lbllltl•s and baslj ¢rf rnport
A8 th& ¢harills TNstgos. you are responsible for Ihe preparat6on of the a￿D￿nIs, In accvrdance ￿th
the requlrements of the Charities Act 2011 Ilhe Act).
I report in respect of my examination of the Trust's accounts carried rmjt under 8ectk*n 145 of the 2011
Acl and in carrying out my examination I have followed all the applicablo Directions given by tho
Charity Commls8lon under 8èCtlon 14515)Ibl of the Act.
Ind•p•nd•nt •x•mln•r'¥ statomont
I have completed my examinauon. I confimi that no m8tters have come to my attention in connecllon
with the eXamIna￿On glvlng me cause to belleve-.
11 accounts'ng records were not kept In resp8ct of the Trust as requlred by sectlon 130 of the
21 the account8 do not accord wllh th088 records; or
31 the aC￿unIs do not comply with the applSc8ble requirements concemlng the form and
content of accounts sel out in the Ch8rf1ie8 (Accoun18 and Report8} Regulation8 2008
other than any T9quifgmgnl that thg a￿OUnts glve o true and falr vlow whlch i¥ not a matter
consldered 88 part of an Ind8p8ndenl examIn8￿On.
I have no concems and have come across no other m8tt6r8 in connection wlth the ex8minallon to
whl¢h attonllon should bo drawn in thi8 report in order to enable a proper under81andlng of the
accounts lo be reached.
John Stanllorth
Moore Klngston Smlth LLP
Chart•rfrd Accountants
Devonshire House
60 Goswell R08d
London
EC1M 7AD
D8t&.' 1710612022

OTTO GIESEN FUMD
STATEP•lENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 JANLIARY 2022
2022
2021
Unr•*trict•d Expendabl•
Funds
Endowm•nt
Total
Tofal Funds
Incomo and ondowments from
Investrnents
37,313
37,313
39.767
Other
Total Incom• and •ndowm•nts
Exp•ndltur• on
R8i8ing funds
17.328
17,328
12,822
Charitable actlvilie8
101.959
101,959
52.948
Total •xp•ndltur•
101,9
65.7TO
N•t •xp•ndltur•
164,6461
117.32
181,974)
(25,999)
Othor rocognl•od qalni
Nel gain8 on Inve8tmen18
46,935
46,935
74.622
N•t loutgolnglllncomlng
ro$our¢o8 for th•
164,646)
29.607
135.039)
48.623
Total fund• brought forward
157,244
1,507,415
1,664,659
1,616,036
B•loncg• c•rrl•d forward

OTh0 GIESEN FUND
BALANCE SHEET
AS AT 31 JANUARY 2022
2022
2021
Total
Funds
Total
Funds
Notos
Flx•d as$•ts
Quoted stock8 and shares
UnsecuTed loans
1,526,555
94,206
1,530,670
121,834
T•tsl fixèd ••••t¥
Cufr•nt •u•t•
Cash al bank and In hand
10
15,879
22,430
Total current A•••ts
15,879
22,
30
Credltors: 8mount• falllng due wlthln on• year
11
7,020
70,275
Curr•nt a8••ts l••¥ Current Il•bllltl•¥
8,859
12, 155
N•t a8••t•
Fund• of th• charlty:.
Unrn•trlctod Fund•
(Page 71
92,598
157,244
Endowrn•nt Fund#
(Page 71
1.537.022
1.507,415
AccouKfs APPROVAL CERnFICATE
The Trustees have approved these accounts and conflmi that they have made avall8ble all relevant
re
s and information for their
reparation.
V M8cDuff
For and on behalf of the Tru6te8s
r3. G.IL

OTTO GIESEN FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JANUARY 2022
2022
2021
Not•s Total Funds
Tolal Funds
Cashflow8 from op•ratlng actlvltl•o:
N•t ca•h u¥•d In op•rating actlvltles
14
194,9141
{39.152J
C￿h flow• Irom lThvg¥tlng ¥ctfvitl•¥:
Investment InLy)mo
ProGaeds from 88le of investment8
Purchase of investments
37,313
177.710
198,698)
39.771
249,433
f257,477J
Nol cash provid•d by Inv•¥tlng actlvlth•
Chang• In c••h •nd ¢•*h •quival•nts In the r•portlng
p•rlod
21,413
,425
Cash and ¢a•h •qulval•nt• at th• btylnnlng of th•
reportlng porlod
30,851
38,276
Ca•h and cash •qufval•nts at the end olth• rnpartlng
porlod
52,264
30.851
An*tyal# of ca#h and ca8h •qulvalent•
UK cash held as part of inv6stm8nt portfc410
Cash at bank and in h8nd
36.385
15,879
8,421
22,430
10

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 21>22
Principal Accounting Poll¢S
Basis of Accountin
The linancial 5ts1ements have been prepared in accordanc& wlh the Flnanclal Rewrting
Standard applicable in Ihe UK and Republic of Ireland (FRS 1021. The Fund 18 a public
benefit entity lor the purpos8s of FRS 102 and a registered charity and therefore has also
prepared ils financial statemen18 in accordance wth the Stslemenl of Recommended
Practice Bpplicable lo charthes preparing their accoun15 in accordanco wilh the Financi81
Reporting Slandard applicable in the UK and Republic of Irelan(J (The FRS 102 Charllles
SORPI, and the Charities Act 2011. The financial slatemenls are prepared In sterllng, whSch
is the functional ¢urronw of the Charlty and rounded to the neaTe51 pound.
The Otto Gle8en Fund Is a publlc benefit entity for Ihg benefll of such p8rtner8, employee8,
fcymer partner8 and former ernployees of Slaughter and May {￿h9 Firm'l and IheSr swuses.
wltjows, widowers, childron and other deFendants as the Tru816e8 shall select a8 belng in
need of finanual a$$i$tsncg.
The Fund Is a rggislered charSty IregSsl8red number.. 281199), whkh 1$ domicilgd in Ihg UK.
The addr98$ ol Ihg reglslered office is 2 L8mbs Passage, London. EC1Y 8BB.
Tho Tru81ees conBlder that there oro no malerfal uncertainti88 about the Charlvs abllSty to
continue Bs a golng ¢oncorn Includlng the Impacl of Covid-19, The most Blgnificant areas of
uncertainly Ihal affgct Ihe Car￿ng value ol assets held by the Charity are the level of
investment rglurn and the performanc6 of inve81m8nl markets (see the investmanl poll¢y
ond perfomianGe and rfsk man89omant secli¢)n8 of the Trustees, annual report for m￿e
Informaiionl.
The Expendable Endowment Fund reprgsents those 8ssels vthkh are held for the longer
term for the Charity, in 8ccordance with the term5 of the Trust Deed. Income 8rising on Ihe
Expendoble Endowment Fund forms p8rt of the unrestr￿ted Income Fund. Amy capk81
gain$ or losses arising on the investments held in the Expendable Endowment Fund lom
part of th8t Fund. The Trustees may utili5e both the Expendable Endowment Fvnd and the
Unrestrfcted Income Fund In fulfilmenl of the Trust's objects.
The Unrestficted Fund$ may be more ￿￿elY ¢JlslrSbuted a8 the TTU51ees are free to uso Ihgm
in accordance with any charftable object or purp088.
Cont...
10

OTTO GIESEN FUMD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
PrlnGlpal Accountlng Pollclos l. .cont)
Critical Accountin
Jud
ements and Ke
Source5 of Eslimalion Uncertainl
In prep8rfng financl81 stslements,11 IB necessary lo make certaln adluslmenls, estimate8 and
a8surnption3 that affect the amounts recognls8d in the financial stalemenlB. In the view of
the Trustees in applying the accounting policies adopted. no judgements were required that
hBve a significant effect on the 8mounts recognised in the financial statemenls nor do ony
estimates or 8ssumplion8 mad8 carry a significant ri8k of material adjuslmenl in the next
fin8ncial year.
in
I gains and108se8 are taken lo the SOFA as they art58. Realisad gains and h)sses on
investments ore calculated as the drfference between sal88 proceeds ond opening market
Value (purchase date il lalerl. Unrealised gains Bnd losses ofe calculaled 88 the difference
between the market value al the year end and openlng market value lor purch888 d8le If
later).
Flnandal In
IrumenlB
Thg Fund has electgd lo apply Ihg provSston8 of S8ction 11 'B88ic Finanoal Inslruments, of
FRS 102 to all of Its financi81 Inslrumenls. Financial inslruments are recognised In the Trust's
balance sheet when the Trust becomes party lo the contractual provislons of the instrument.
Financial asBets and liabilities are offset, with the nel amounts presented in the financial
statements. when there is a legally enforceable right lo sel off the recognised amounts and
there is an intention lo settl8 on a nel basis or lo realise the asset and 5etUe the liability
s[multan8￿sIy.
Al income 15 recogni5ed in the Statement of Financial Activibes ISOFAI then the ccffldilion8
for ro¢Dipt have boen mel and there 15 reas(￿able assurance of receipt.
Investment Income
Investment Income 58 accounted for when recelvable and Is slated gross of 8ny reclalmable
taxation relief.
(CC￿1...)

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
Prln¢lpal Accountlng Pollclel {...contl
Resources expended are recognised 88 liabilities as 500n a5 there 15 a legal or constructive
oblig8ti¢n committing the charity lo the expenditure. All expenditure is accounted for on an
accruals basis and has been classified under headings that ￿gregate all costs Telated to the
category. The followng accounting policies are Applied lo the different cotegories of
expenditure..
Costs ofgenera&ng funds
The cos18 of ralsSng funds con8181 of investment m8naoement fee8.
Ch8r118bl8 8ctiV￿18s
Donollons poyablg ar9 r9￿gnised when they are approved by the Iru8lee8 and the reclplent
of the 9r8nl has been infomied of the amount pald.
Th& Iruslees conbnuously oversee the rep8wnenl of10gn$ and may al any Ilme declde lo
onvgrt all or part of a loan lo 8 granl.
Gov8mance cosls
Governance c081s comprlse all cos18 involv7ng the public account8bllity of th8 charity and its
compllance wlh regulation and good practicè. These costs include costs Telaled lo the
Independenl èxaminèr's fees 1098lher wlth sUPPOrt costs.
1.10
FIX d a88el investments
Investmgnt8 ore stoled al market value al Ihe balance 8h8et date. The SOFA Includ&s the
ng1 gains ond10859s C￿ revaluatlon and dlspo8al8 throughout the ye8r.
1.11
sh and ca
ivalen
C88h end cash equlv8lents Include cash at bank aThJ in han¢J and short temi dèpo811s with a
m81urity dale of three months or less.
Taxatlon
The trust18 8 charity within the meBning of S8Ctlon 30 of th8 Financo Act 2010. Accordlngly.
il 18 genarally exempl from tsxation In respert of Geriain types of incomo and ￿ capital gains
roc8Nèd within calegorf8s covergd by Section 256 01 the Taxatlon of Chargeable Gains Act.
1992 to the exlent that such incomg or gains arg appl1￿ lo char)iable purposes exdu8lvely.
In practicg. the Fund is exempt from UK tsx on UK interest. Tax deducted al source on UK
dmdgnds incom& is non-refundable. Foreign lax deducted 15 generally recoverable from the
appropriate foreign tsx aulhoTilie8.
12

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDEO 31 JANUARY 2022
AnalyslB of Incomlng R￿Our¢05
2022
2021
Investmenl Income
I￿)me receivable quoled Investments-.
Quotsd on UK Stock Exchango
2022
2021
(Xh r Incomin
Resources
Gross deposit intereBt
R•i•lng Fund•
2022
2021
Investment management fees
Investment strategy ad￿ce
14,928
2,400
12,822
An•lyg1• of Ch•rltsbl• ActSvltl••
2022
2021
Noto8
Gr8nls
Bad debt expensg
Govem8nco costs
33,399
61,450
7.110
28,944
17,164
6.840
Tho bad dgbt expense 15 made up of the write off of debts of £15,850 Iless amounts already
provided for 01 £6,300) and an increase in the bad debt provision of the yEar of £51.900.
Di•tributlon• to B•n•flclarl•s
Grants were awardod lo thirtegn beneficiaries in Ihe year12021-. nine). Four new loans were
awarded in thg year12021'. Ihr¢ol and fivo loan5 w¢rg convgrted to a grant {2021: onel-
Eleven beneficiaries contSnued to ropay tholr loan$ during the yo8r12021". nine).
13

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
Governance CoBts
2022
2021
Ac￿un￿neY 1668
7.110
6.840
6.840
The Fund employed no Staff dudng tha year ended 31 January 202212021- none).
Inv•8tm•nt As¥•t•
2022
2021
d Inve81m8nls
Market value brought forward
Additions
Disposals
Net realised inve¥tmenl galn$lllossesl
Net unreolised inv8slmenl gains
1.522,249
98,696
1177,7101
7,610
39,325
1,439.583
251.477
(249,433)
(46,556)
121,178
1,490,170
1,522,249
UK c88h held as part of inv88bnent portfolio
36,385
8,421
Hi8t¢fical Coyt
At 31 January2022
953,804
At 1 February 2021
14

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
The followlng Investments comprise in gxce¥$ of 5% of the value of the portfolio..
Inve•tm•nts
Holdlng
Valu•
sCO￿lSH MORTGAGE INV TRUST ORD GBPO.0S
ISHARES CORE S&PS00 UCITS ETF USD INC
FINDLAY PARK FUNDS PLC AMERICAN USD INC IISEI
9,100
2,550
596
98,189
84,552
79,352
Un••¢ur•d Loan•
2022
2021
8wk valu8 brought foThvard
Additions
R8payments
Provision for Irrocoverable loan8
Amounts convgrtgd to grant
121,834
78,000
137.8781
51.9001
(15,8501
145,017
24,200
flO,219)
(17, 164)
f20,OCQ)
94,206
121,834
Total unsecured loans at the year end grg £168,82012021.' £144.5481 and Ihe bad d8bl
provision against thès8 loans 18 £74,61412021.' £22,714}.
The loan8 are InlgreNt fr99 and repayable on demand.
10
CaBh at Bank and In Hand
2022
2021
N811onal WestmSn8ter Bank PIC
COIF Charitl88' Dep08il Account
15,879
20,732
1,698
22,430
15

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
11
Credltorn: Amounts Falling Due Within On• Y•ar
2022
2021
Accountancy foes
Investment mÈn8gement fees
7,020
6,840
3,435
10,2T5
12
An•ly•l• of Fund Mov•mont•
12.1
Balanu•
8rought
Fonyard, 1
Feb 2021
Fund8
Carrlod
G•in• and Forward, 31
Lom
Jan 2022
Incom•
Exp•ndlturn
Unr881ricted
Funds
1 S7.244
37.313
1101.9591
92,598
b Expènd8ble
èndowment
1,507,415
117,3281
46,935
1.537.022
1664 659
119287
1629 620
12.2
Bal•n¢••
Brought
Forward, I
F•b 2020
Funds
Carrl•d
Galm and Fon¥ard, 31
Jan 2021
Income
Exyndltur•
Unrestricted
Funds
170,421
39,771
(52,948)
157,244
b Expgrrd8ble
endovmienl
1.445.615
(12,822)
74,622
1,507,415
1616 036
1664 659
16

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
12.3
The expendable endovKnenl represents the value of assets held as Investments 8ri8ing from
the original assets 88tded by the late Helen Martha Gie5en on 20 December 1976. The
income arising on these assets is hekl separately in unrestricted funiJ8 88 Tt is less ￿￿elY
constr8ined by the trust and 1$ available for use in respect of any charftable object or
purpose.
13
Trnnsactlon• Wlth Rolated Partl•8
13.1
No Trustee15 or ha8 been enlitled lo any fee OT $818ry {2021- NIL).
13.2
No TNslee has been rglmbursed vAth any out-of-pocket expen5es12021- NIL).
13.3
Th8 Tru8tees are partners. rellred partners or rellred employee8 of Sloughler ond May. other
than Trexco Limbted, which18 wholly owned by S18ughter and May. Administrat￿8 fees of
£Nil wgrg payoble to S18ughtsr 8nd May durlng th6 year12021.' £NIII.
14
R•con¢lllatlon of C*•h Flo￿ From Operatlng ktlvltl•8
2022
2021
Nel expendlture for the year {a8 per Statoment of Flnanclal
Athitie5}
181,9741
(25,999)
AdJustm•Dts for:
Ofvldend8, interest and rents from inv8slmenl8
Increa8elldecre8801 in credltors
Oecre8sel Iln¢reo301 In un98cured loans
137,3131
13.255)
27.628
139,7711
3,435
23, 183
N•t ca•h u8•d In op•rntlng •¢tlvltl
17

OTTO GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
15
Br•akdown of Comp•rativ•s on Statement of Financial Activities
2021
UnrMtrict•d Exp•nd•bl•
Fund• Endowm•nt
Total
Not•$
Incomo and •ndowm•nt• from
Invoslments
39,767
39,767
Other
Total Incom• and •ndowm•nts
39,771
39,771
Exp•ndltur• on
Raising funds
Chartsblo aGtiwtsg$
12,822
12,822
52,948
52,948
Totsl oxpendltur•
N•t expvndltur•
Other r•cogni••d ga5n#
52.948
12,822
112,822)
65,770
113,1771
125,9991
Nel gains on Invgslmgn18
74,622
74,622
N•t loiitgolnglllncomlng
f•souru• for tho year
Total fund• brought forward
13,177
61.8C(I
48.623
170.421
1.445.615
1,616.036
18

orro GIESEN FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2022
16
Analys18 of Nat AB8ets B•two•n Funds
UnrgStrl¢ted Expondablg
Funds
Endowmènt
Total
Fixed osso181 investments
94,2(
1,526.555
1,820,761
Curronl assets
5,412
10.467
15,879
Current Iliabilllle81
17,0201
17,0201
19