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|TrusteesReporl|I|
|Independent ExaminersReport||
|Statementof flnancial activity||
|Balancesheet|6|
|Notes to the accounts|1|





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||Statementoffinancialactivitiesforth|ey yea|r to31March2021|r to31March2021||||
|---|---|---|---|---|---|---|---|
||||UnrestrictedEndowment|||Total|Total|
||||frrnds<br>€&|funds|z020l2l<br>d||20t9120<br>L|
|||Notes||||||
||Income&Endowmentsfrom|||||||
||InvestmentIncome|lb||||||
||Dividendsreceivable||845<br>9|||9,845|31,645|
||Interestr:eceivable(gross)|||||||
||QuotedInvestments||33,063|||33.063|r1975<br>"*7|
||HighlnterestChequeAccount||28|||28|122|
|L|COIF<br>InvestecClient Account||38|||38|192<br>351|
||Total incomingresources||42,973|||42,973|66,286|
||Expenditureon|1c||||||
||Raisingfunds|||||||
||Portfoliomanagementfees|||9.475||9^475|9,\82|
||Charrtable ProjectsandGrants|||||||
||Education||31,442|||31,442|<br>62,162|
||Training|||||||
||Secretarialcosts anddtsbursements||61956|||6,956|7,012|
||lndependent examinersl'ee||1,080|||1,080|1,213|
|L|||39,477|||39,477|<br>70,387|
||Totalresources expended||39,477|9,475||48,953|79,569|
||Netincomel(expenditure)before<br>gains/(losses)oninvestments||3,496|(9,475)||(5,980)|(13,283)|
||Netgains/(losses) oninvestmentassets|||357,319||357,3t9|(307,714)|
||Netmovementsinflrnds||3,496|347,844||1511lg|(320,997)|
||TotalFundsbroughtforward||19.172|1,699,853|1,719,425||2,040,022|
||TotalFunds carriedforward||22,6682,047,697||2|64|1,719,025|





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||||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2A2r|2020|
||||€|L|&|.c|
|||Notes|||||
|Fixedassets|||||||
|Investments||la&,2||1,969,671|1,869,671|1,403,560|
|Currentassets|||||||
|Debtor-Interest receivable|||3,358||3,358|4,500|
|Cashatbankandinhand|||20,396|t78,A25|198,421|312,0i5|
||Total currentassets||)a 7\L|178,025|241,7'/g|316,515|
|Creditors||6|1,096||1,086|1,050|
||Net|currentassets|?2,668 178,0252A0,693|||315,465|
|||Netassets|22,6682,047,696||2,074364|rytg,a25|
|The fundsofthe|charity||||||
|Endowmentfunds||||)o47 696|2,047,696|1,403,560|
|Unrestricted|incomefunds||22,668||22,668|315,465|
|||Totalfunds|22,668|_2W.,696_|2,470,364|7,719,425|






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|2|Investments|||
|---|---|---|---|
|||2A2r|2020|
||Endowment Fund|||
||Originalendowment 36l,4AATheVitecGroupPlcshares,|||
||valueatdateof transfer tothetrust(292p)|1,055,288|1,055,298|
||Overallincreaseinvalueto31March(realisedandunrealised)599,180||915,453|
||Lesssalesundertakeninpreviousyears|(3,3111,689)(3,020,71g)||
||Addpurchasesundertaken in previousyears|3,067.781|2,916,502|
|||I,403,560|1,866,525|
||Lesssaleofshares|(14e,020)(306.80s)||
||Profiti(loss)onsaleofshares|3,957|8,834|
|||1?5R 3q7|1,569,554|
||Investmentspurchased (adjustedforaccruedinterest)|257,8r2|151.279|
||Changein valueat 31March|353,462|(316,273)|
||Investrnent valueat3t March}D2l|l,g69,67l|1,403,560|
||Adetailed investmentscheduleisonpagel0|||





|TheWliliam&Ellen Vinten Trust|TheWliliam&Ellen Vinten Trust||||sch€dule ot lnvestment8 held|sch€dule ot lnvestment8 held|sch€dule ot lnvestment8 held||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||IridA,4a.ket||||Unrealised|MidN4arket|||||
|Nomlnal<br>Holding|||Value<br>AddilionsDale||Realisations||movemenl|Value|||income||
||||20||Proceeds||in value|31l\.iar21|Dividends|||lnterest|
|28,600|A2D Funding Plc 4.75% Bds'18/10/22||30,202||||112fr\|30,082||||1,358.50|
|35.000|Ailiahz Glb invest Gih yi€ldilhc||i5,12i|5Jan21|||(6,40e)|68,712|||||
|31,500|Allianz Glb investst.alegicbondIln.||40.015|20 Apr 20|||||||||
|13,500|AalianzGlb investsrategicbondIlnc||18.8405Jan21||||1s71)|58,284||||662.35|
|35,000|AXA lnvestment Man US Sht Dur Hiqh Yield|Bd|29.A17||||2,005|31,822||||1,340.1 3|
|20,000|BNP 65% FTSE S&P CPN Besr of Put (MTN)||2C,408||||||||||
|(20.000)|BNP 65% FTSE S&P CPN Best of Put([,4TN)|||13N13y20|20,000||(408)||||||
|15,000|Bupa F;nance 6.125% Var Gtd Bds Perp||14,624|||||||||918 75|
|115,000)|Bupa Flnance 6.125% Var Gld Bds Perp|||'16Sep 20|15.000||376||||||
|100|CG Portfolio Fd Real Return A GBP Selt||20,81't||||(1,030)|19.787||||333.30|
|20,000|CanaCian lmp Bank ldx/LkdSnr23l10l25||18,i41||||3.573|22.314|||||
|20000|Canaciian imp Bank 5.4% FTSE/S&PAoall||16,303||||2,888|19,191||||1,080.00|
|25,000|Citigroup Glb\,,lkis5.57%FTSE||21,905||||4.413|26,318||||1.392.50|
|'12946|City Merchant High Yield Ord 2p shares||24,224||||||||||
|('12.946)|City Merchant High Yieid Ord 2p shares|||5Jan2i|24.321|4.093||||970.95|||
|10,8&4|Custodian Reit Pl6 Ord0.01||10.750||||||||||
|{1i:1,364}|Custodian Relt P,c Ord0.01|||12Aug 20|9,217|(1,533)||||||283.82|
|36,719|Enquest Plc 7"kSffEmln1512122||10,797||||||||||
|1,285|Enquesl Plc 7% Snr Emtn1512122||1,285|17Aug20|||19.772|33,184||||2,615.31|
|1,330|Enquesl Plc 7% SnrEml^15!2122||1,330|15 Feb21|||||||||
|20,000|Fundrock F'lhrs LtdFp Vr'hebSust||34,732|2AApr20|||e,188|43,920|||||
|43,910|Greencoat uK Wind Ord GBP0.01||59,454||||(2,942)|56,512|s,117.60||||
|1,850|Henderson Opp Trust||11,711||||13 542|25,253||499.50|||
|20,647|HlaLInirasiructure Ord||33,469||||5SS|34,068||690.28||1,0'13.08|
|20,00C|Hipgnosis Songs Fu Ord Npv||24,492|5 Feb21|||558|25,050|||||
|30.000|lmpax Funds (lre) Envlronmental [4kls||30,606|20Apt 21|||||||||
|15,000|lmpax Funds{l16)Environmeniali,4kls||17.611|17Jun20|||23,0C3|71.280||55.61|||
|25.839|lNT Pubuc Parther Ord||40,309||||3.075|43,384|1,878.50||||
|10.000|lnternalioralPers 7.75% Gtd Snr14i12123GBP||5.275||||4,675|s.950||||775.00|
|21,387|lrvescoFd lungrs Invesco Corp Bond UK D|Dis|40,915||||2,550|43,465||||1,243.81|
|46000|J Pi\.4organAm UK Ltd||18,500||||4,876|23,3]6||960.00|||
|59991|Jupiter UT MngG, Slralegic BondZlhc||38,424||||990|3S,414||||1,338.75|
|10.000|Jupiter UT Mngrs,llKSpecial Situatlons||14,044||||4,830|18,874||384.88|||
||KKV Sec Loan CL D||436||||||||||
|769|||||||(70)|274|||||
||KKV Sec Loan C LD|||iS i,4ar 21|92||||||||
||KKV Sec Loan FDB||1,4.15||||||||||
|3 985|Kl{/Sec Loan FDB|||18N,{ar 21|199||(46.1)|182|||||
|10,300|Ladbrekes Grp Fi, 5.125% 16lAgi22||9,523||||1,27A|10,801||||527.88|
|50,CC0|Legal & GeneralUlL&Gllighlhc Trust (l) Dis||10,488||||4,147|23,635||||1,299.36|
|i1,950|Link Fundl/anagerTrojan lreland 0 GBP Dis||15,436||||1,385|16,821|||||
|20.000|Lloyds Bank Plc 7 625trltn04/25||23,392||||1,554|24,946||||1.525.20|
|13.300|London Slock Exchanqe 4.75% Mtn2/11121||20,051||||l2B4')|19,767||||916.76|
||L4&GSecurities Ltd Gbl floatlnq Rate Hiqh||19,38e||||3,485|22,873||||944.96|
|23,615|||||||||||||
|365|N4aitlandlnstl Svc MlTwenilourAm DyrlBd||36,263||||5,426|41,689||||1.546.56|
|4,000|lupierA[r{EURope)UK Dynamic Equite||14,31g||||s,083|23,402|||||
|16.650|Nlorgan Stanley BV 543% FTSE Supedracker 25||13,462||||5,809||||||
|20,000|Nlorgan Slanley6V5.21% FTSE lnc Acall27||15,770||||3,228|18,998||||1,042.00|
|250|Oaktree (Lux) Fds/FundrockNrgmtCo||20,303||||3,217|23,520||||1,044.88|
|15,000|Paraqon tsankinq Gp 6% SnrEnli2818124||16,414||||'138|16,556||||900.00|
|15.000|Paragon Banking Gp 6% Shr Emtn5112/20||13,875||||||||||
|(15,000)|Paragon Baflking Gp 6% Snr Emtn5/12120|||8 Dec 20|15.000|1,125||||||676.50|
|43000|Picton Property lncome Ord NPV||38,221||||(1,182)|37,045||||1,182.50|
|20.000|Premier Oii 6.5% Gtd i31i05i21)||7.840||||1 1,010|18,850||||1.s00.00|
|666|Premier Oil Equily Wt31/5,i22||341||||(340)||||||
|50.000|Cooperatieve Rabo,1.625% Sn. Mtn13/1121|GBP|51,1 08||||||||||
|(50,000)|Cooperatieve Rabo 4.625% Snr Mtn 13/1/21|GBP||'13Jar21|50,ooo|(1,108)|||||||
|15,000|Cooperatieve Rabo 4% Snr[.11n19/9/22||15,577||||212|15.789||||600 00|
|4.500<br>('j,500)|Scotl"4crt{nvTstOrd GBP0.05<br> ScottlodlnvTslOrCGBPo.05||25,U1|14 May2a|9,885|1,271<br>16,883||1 1<br>34,||99|311||
|17,301|Sequois EconomicINPV||16,3S2||||1,696|18.028|1|,c81|||
|20,000|Shroder Unit Tst Gbl Cities Real Estate||16720|12Aug 20|||436|17,156||106.58|||
|5,300|Tesco Personal Fin 5%frTN 21li1120||5,265||||||||||
|||||||||||||265.C0|
|(5.30Ci|Tesco Personal Fin 5%IVTN21ll1/2n|||24 Nov20|5,300||35||||||
|12,500|Twentytbur lncome Ord Red GBP0.01||11,013||||2,581|13,594||||800.00|
|28.000|UKGo*0.125%llL Git2203129||44,452||||(448)|43,604||||4s.38|
|45,000|UK Govt 0.125%ld\ lkd22103124||60,043||||300|60,343||||68.29|
|22,500|UK Govt 1.25% ldx-Lkd22111127||45,249||||(668)|44,581||||424.92|
|'15.000|UK Govt 2% l/L Stk 26/'i135||43.99S||||(6e1)|.13,308||||841.42|
|30,000|UKGovt2.25% Gilt07/0S/23||32,161||||(5s0)|31,571||||337.50|
|30,000|UK Govt 4% Gtd SnrG,lt07/03/22||32,250||||(1.134)|31 ,116||||1,200.00|
|40,000|Vitec Group Plc Ord 20p shares||258,000||||198,000|456.C00|(Withheld)||||
|||Totals1,403.560257,812|||14e,020|3,857 353,!6]||l,gqe_qllj,q4-q?||||}.1ry-ql|





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|Grantsto individuals totalled,41,600(2<br>4Secretarialcostsand distrursements|020-f.21,979)andto institutionsf11,50|0(2020-fI5,000)|
|---|---|---|
|The costs expended were:|2021|2AZ0|
||{|&|
|JabuDesigns(Website)|216|216|
|MrDMarriott|6."/40|6,796|
||__92:S_|7,012|
|5Creditors|||
||2021|2.020|
||{|t|
|Ensors|1,086|1,050|
||1,086|r,050|



## 

|||||Gains/||
|---|---|---|---|---|---|
|7|Statement offunds|BiFrvd|IncomeExpend|(losses)|C/Fwd|
||EndowmentFund|1,699,853|-<br>{9,17s)|357,319|2,041,697|
||Unrestricted fund|19,172|42.973t39,411)||22.668|
||Totalolfunds|1,119,025|42"973 (48.953)357,319||2,07A364|



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||UnrestrictedEndowment|UnrestrictedEndowment|Total|
|---|---|---|---|
||funds|fu!d$|flrnds|
||+'{|||
|Incomeand endowmentsfrom||||
|Dividends receivable|31,645||31,645|
|Iaterestreceivable(gross)|34,641||34,641|
||66,286||66,286|
|Expenditureon||||
|Raisingfunds||9,182|9,182|
|Charitable activities|70,387||70,387|
||'70.79,1|9,182|79,565|
|NetIncome (expenditure)before<br>gains/(losses) on investments|(4,r01)(9,182)||(13,283)|
|Netgains/(losses) oninvestmentassets|||(307,114)|
|Net movement in funds|_9J01)-_11i6,8%I||(.320,9e7)|