## ## |||Page| |---|---|---| |Legal and administrative|information|| |Directors' mport||| |Independent
examiner's|report|| |Statement of financial activities||| |Balance sheet||| |Statement of cash flows||| |Notes to the accounts||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |for the year ended 31Dece|mber 2021|||||| |---|---|---|---|---|---|---| ||||||2021|2020| |||Notes|Unrestricted
8||Total fuads
8|Total funds
8| |Inconte||||||| |investment
Income
Other income||3
4||6,638
87,215|6,638
87,215|6,110
92,171| |Total inconte||||93,853|93,853|98,281| |Expenditure||||||| |Cart ofraising fttnds;
Editorial expenditure
Investment
management
fees|||5
6|10,964
4,256|10,964
4,256|9,967
3,595| |||||15,220|15,220|13,562| |Expend/tare
on charitable
Research
Education
Administrative
expenses|actlrllles:|||32,940
(4,315)
4,361|32,940
(4,315)
4,361|43, 121
4,592
4,761| |||||32,986|32,986|52,474| |Total expenditure||||48,206|48,206|66,036| |Net Income/(expeudlture)
In funds before gains and|aud net movement
losses on investments|||45,647|45,647|32,245| |Net gains/(losses)
on invesbnents|||9|45,062|45,062|35,611| |Net movement
ln funds||||90,709|90,709|67,856| |Reconctltatton ofFends
Total funds as at I January|2021|||617,595|617,595|549,739| |Total Ibnds as at 31 December 2021||||705,3II4|708,304|617,595| ## |ns at 31Dcccu&bo|r 2021||||| |---|---|---|---|---|---| |||||2021|2020| |||Ihotcs|lhwcstricted|Totnl froude|Toh&115'mais| |||||8|8| |1&ised assets
Tangible
nese)s
hlveshucu&8|||6
5lh5,578|6
'IhS,S78|6
409,009| |Total fixed assets|||445,585l|445,584|409,015| |Cul'O'Lu't
o8&el8
Debtors
Cosh at bank nnd|ln hnnd|10
11|45,I75
220,439|45,175
220,435|S2,131
164,731| |Total cur&'out usseta|||'265,615l|265,6l4|216,862| |Liabilities|||||| |Creditors fatting duo within one||12|2,894|2,894|8,282| |yenr|||||| |91st current amet8|||262,720|262,720|208,580| |131stassets|||708300|7538300|657595| |Funds
U&u'estrlcted
Iiuuls|||7089304|708,304|617,595| |Ro&trlcted go&ds|||||| |Shoroholdcrs'
feuds|||708300|7083M|677595| |The Houghton
Trust Limited|The Houghton
Trust Limited|||| |---|---|---|---|---| |Statement of Cash Flows||||| |for the year ended 31December 2021||||| ||||2021|2020| |||Notes|Total Funds|Total Funds| |Net cash used in operating|activities|13|40 377|27 703| |Cash flows from Investing|activities:|||| |Interest snd dividends|||6,638|6,110| |Proceeds from sale ofinvestments|||8,493|4,780| |Net cash provided
by Investing|||15,131|10,890| |activkles||||| |Change
In cash and cash
equivalents
in the year|||55,708|38,593| |Cash and cash equivalent
1January 2021|ss at||164,731|126,138| |Cash snd cash equivaleat|as at||220439|164 731| |31December 2021||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ||in cash or k|ind (2020;a|nil). Expenses paid to t|he trustees
in the y|ear|| |---|---|---|---|---|---|---| ||||||2021|2020| |3|Investment|income|||8|8| ||Dividends
- equities
Interest- fixed internet||securities||5,339
1,299|5,190
829
91| ||Interest on|cash deposits||||| ||||||6638|6,110| ||||||2021|2020| |4|Other income|||||8| ||Royalties
Royalties
Royalties|receivable
agents receivable -Editorial contribution
agents receivable -Travel expenses
subsidy|||75,175
$,040
4,000|$2,131
8,040
2,000| ||||||87215|92 171| ||||||2021|2020| |5|Editorial|expenditure||||| ||Editorial|assistants
remuneration|||10,964|9,967| ||||||10964|9,967| |The|Houghton
Trust Limited|Houghton
Trust Limited|Houghton
Trust Limited||||| |---|---|---|---|---|---|---|---| |Notes to the Accounts|||||||| |I'or the year ended 31December||||2021|||| |||||||2021|2020| |6|Investment
management||fees||||| ||Investment
management||fees|||4,256|3,595| |||||||4,256|3,595| |7|Expenditure
on charitable|||activities||202l
8|2020
8| |||||||32940|43 121| ||Research grants
Individual
educational||grants|||~4,315|4562| ||Administrative
expenses||||||| |||||||7|10| ||Postage, stationery|and|telephone|||13|968| ||Travel expenses|||||926|&42| ||Treasurer honoraria|||||1,944|1,860| ||Accountancy
Computer
running|costs||||1,433
25|1,043
25| ||Bank charges|||||13|13| ||Sundry expenses||||||| |||||||4,361|4,761| ||Total expenditure|on charitable|||aotivitles|32,986|52,474| |8|Tangible fixe assets||||||| ||Office equipment||||||| ||Cost||||||| ||At I January 2021|||||5 661|| ||and 31 December|2021|||||| ||Depreciation||||||| ||At I January 2021|||||5655|| ||and 31 December|2021|||||| ||Net book value||||||| ||At 31 December|2021|||||| ||At 31 December|2020|||||| |for|the year ended|31December|2021||| |---|---|---|---|---|---| |||||2021|2020| |9|Fixed asset Investments|||f,|| ||Movement
in|fixed assets listed investments:|||| ||Market value|at I January 2021||409,009|378,178| ||Add: additions
to investment
at cost
Disposals at carrying value
Add; net gain/(loss)
on revaluation|||107,690
(116,183)
45,062|58,079
(62,859)
35,611| ||Market value|at 31December|2021|445,578|409,009| ||Net cash released f1om investments|||in the year was 88493 (2020:f4,780)|| ||Investments|at fair value||2021|2020| ||Comprised:||||| |||||384,335|357,186| ||Equities
Fixed interest|securities||61,243|51,823| |||||445 578|409,009| ## ||||2021|2020| |---|---|---|---|---| |10|Debtors|||8| ||Royalties|receivable|45,175|52,131| ||||45 175|52,131| ||||2021|2020| |11|Cash at bank|||g| ||Bank current account
Investmcnt
advisors deposit account||199,689
20,750|154,857
9,874| ||||220,439|164731| |The Houghton
Trust Limited|The Houghton
Trust Limited||||| |---|---|---|---|---|---| |Notes to the Accounts|||||| |for the year ended 31December 2021|||||| |12 Creditors due within|1year|||2021|2020| |||||8|| |ludividual
educational
Accruals|grants|||950
1,944|6,422
1,860| |||||2 874|8,282| |13 Reconciliation
ofnet|movement|in I'unde||2021|2020| |to net cash flow from|operating|activities|||| |Net movement
in Ibnds
Deduct Interost income shown
in
Deduct galas/add
back losses on
Decrease (increase) in debtors
Increase (decrease) in creditors||Investing
activities
investments||90,709
(6,638)
(45,062)
6,956
(5,388)|67,856
(6,110)
(35,611)
(3,251)
4,819| |Net cash used in operating
activities||||48,777|27 782|