Charity registration r￿. 296728
Company registration no.. 2110626
BUILDING SOCIETIES TRUST LIMITED
IA company Ilmitod by guarantee)
DIRECTORS. REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020

BUILDING SOCIETIES TRUST LIMITED
CONTENTS
Pago
Le9al and Admlnlstrative Information
Dirèctors, Repcrt
Independent Auditors, Report
Statement of Financial Aclivllles
Balance Sheet
Notes lo the Financial Statements
10-14

BUILDING SOCIETIES TRUST LIMITED
Page 1
LEGAL AND ADMINISTRATIVE INFORMATION
Dlrectors..
Luke March {Chairl
Andrew Golding
Graham Kenffield (until 28 July 2020)
Jahanara Rajkoomar (from 16 Decemb8r 20201
Darrin Ramdeen (from 16 December 20201
Peter Willlams
Company So¢r•tary:
Louise Thornbury
Reglsterod Addr•88:
Building Societies Trust Limited
6th Floor, York House
23 Kingsway
London WC2B 6UJ
Company Numb•r'.
2110626
Charlty Reglstratlon Number:
296726
Audltor•'.
MHA Maclntyre Hudson
17.21 Ashford Road
Maldslone
Kent ME14 5DA
Bank:
Royal Bank of Scotland lunlll 28 February 20201
28 Cavendish Square
London W1 G ODB
Clyde8dal8 Bank (from 29 February 2020)
Clydesdala Business Park
Clydesdale
G81 2NR
Investment Manapor8:
Blackrock
33 King William Sl
London EC4R gAS
G•n•r•l ond Logal Advi•er• to the Tru81:
Robin Fielh
Christopher Lawrenson MBE (until 30 April 20201
Elaine Morton (from 1 May 2020)
The Building Societies AssoGialion
6th Floor, York House
23 Kingsway
London WC2B 6UJ

BUILDING SOCIETIES TRUST LIMITED
Page 2
DIRECTORS. REPORT FOR THE YEAR ENDED 310ECEMBER 2020
The Directors (who are also the Trusleesl present Iheir annual report together with the audited financial
slalemenls of Building Societies Trust Limited Ilhe company) for the year ended 31 December 2020. The
Oireclors confirm that the Annual report and financial stalemenls of the company comply with the current
slalulory requirements, the requirements of the company's governing document and the provisions of the
Stalemenl of Recommended Practice ISORPI, applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and RepUt￿lC of Ireland IFRS 102
Section 1 Al leffective 1 January 20151.
Governlng documont
The organisalion is a charitable company limlled by guarantee incorporated on 13 March 1987 and
registered as a charrty on 29 April 1987. The company was established under a Memorandum of
Association which eslablishad the object and powers of tha chariL9ble company and is governed under ils
Articles of Association dated 27 January 1987. Al 31 December 2020 the company had 5 members, each
of whom has guaranteed the sum of £1 in the event of the company being wound up.
The Tru8tees
The Directors, who are also the Trustees, of the company in the year aro given below..
Luke March (Chalr)
Andrew Golding
Graham Kentfield lunlil 28 July 20201
Jahanara Rajkoomar (from 16 December 20201
Darrin Ramdeen {from 16 December 20201
Peter Williarn5
During the year, each of Ihe Trustees were members of the company. their interests being non-benefici81.
The Tru51ees received no remuneration in respect of their services, bul were enlilled lo claim certain
expenses. The Board may consist of not less than 3 nor more than 9 members. The quorum is 2. The
appointment of new and addlllonal tnjsleesls the responsibllily of the Board.
The Trustees have ensured that different charitable a¢livilies have been supported for the purposes of
promoting the compan¥s objectives,
Prln¢lpal RS8k and Unc•rtalntle8 and Rl•k Managom•nt
The Board implicitly consider8 the Trust's potential risks on an ongoing basis. The risks relating lo the
independence of the Board, inveslmenl policies and compliance with regulatory reporting requirements. as
sel out In the Charity Commission paper "Ch8ritl8S and Risk Manag43menl': are stsll believed lo be the
most signlficanl. In the view of the Board. all these risks have been mllig81ed. Most of the other
operational and financial risk$ are broadly irrel8vanl lo the Company because of ils size, organisalion and
funding mechanism.
The Oireclors are asked lo disclose any ¢onfli¢ls of Inleresls that they may have In relalkjn lo Buil¢Jing
Societies Trust Limited's business.
ObJoGtIvo8 and actlvStlo8 for th• publlc b•n•fft
The granl-making policies are governed by the objective of the Trust, in ils Memorandum of Association,
which is
'To promote and advance the education of the public in commercial and financial subjects wilh parllcular
regard lo money management, housing, home ownership and building society and related matters by
providin9 facilities for such education. providing information and advice on such mallers, conducting
research and putJishing the useful ro5uIts of such research."
The Trustees confirm that they have referred to the guidan￿, contained in the Charity Commission's
general guidance on public benefit, when reviewing the Trust's aims and objectives and in settling the grant
making policy for the year.

BUILDING SOCIETIES TRUST LIMITED
Page 3
DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Board carries out the Trust's objectives by reviewino grant applicalions, oll an individual basis, which
have been invited using the Trustees, discretion from those organisalions whom they believe can help lo
fulfil the charitable alms.
As such, grants have been awarded lo a number of organisalions to fund proiecl$ that benefit as wide a
proportion of society as possible whilst still maintaining the core objectives of Ihe Trust.
Investment Pollcy
Th8 Tfust has a direct slalus portfolio, with Blackrock ils investment managers. Its objective is lo
maximise th8 Trust's long-lerm total return. The Fund's performance has been measured on the gross
performance returns of each fund and their respective benchmarks.
Ro8er4e$ Poll¢y
The Trust does not have any long-lerm commilmenls. Genorally, il decides the grants which il is going lo
make during the forthcoming year al the beginning of each year. Two grants, whlch commenced in 2D18
and 2019 respecllvely, involve expenditure for 8 shorl-lerm period of three years. The Trust employs no
staff. Given th81 the Trust has no long-lerm commitments. the Trustees do not believe il appropriate lo
develop a reserves policy. Such a policy would have no meaning in the context of the Trust's operations.
Flnanclal Revlew
During the year, the company generated income of £107,556 12019.. £134,429) and pald out £137,440
12019.. £112,000) by way of grants. The nel expenditure after charging governance costs of £3,66712019'.
£3,626) ané support Gosls of £12,47112019.' £12,231) was -£46,00212019.. £6.572}. However nel realised
and unrealised losses of {£178,463}12019.' nel realised and unreali5ed gains of £614.9251 were reporle¢J
resulllng in a deficit of1£224,485112019'. a surplus of £621,497).
In view of the companvs charitable status the Memorandum of Associallon prevents the di8lribulion of
income or property lo ils members.
Golng Conc•rn
The Trustees have considered the impact of the COVID-19 pandemic on the company. further details can
be found in the accounting policy note Ilbl.
Based on their assessmenls and having regard lo the resources availabe lo the enllly, lh& Trustees have
concluded Ihal Ihere is no malerlal uncertainly and that they can continue lo adopt the going concern basis
in preparing the annual report and accounts,
Statomont of Trustee8' Responslbllltles
The Tru$lee5 (who are also the directors of the Building Societies Trust Ltd for the purpo$e$ of company
lawl are responsible for preparing the Directors, report and the financial slalemenls in accordance wllh
applicable law and United Kingdom Accounting Standards lunited Kingdom Generally Acceple
Accounting Praclieel.
Company law requires the Trustees to prepare financial slalements for each financial year which give a
true and fair view of the slate of affairs of th8 charitable company and of the incoming resources and
application of resources including the income and expenditure of the charitable company for the year. In
preparing those financial slalemenls, Trustees are required lo
selecl suitable accounting policies and apply them consislenlly..
observe the methods and principles in the charities SORP.,
make judgements and eslimales (hat are reasonable an(J prudent.,
slate whether applicable UK Accounting Slandarés have been followed. subject lo any material
departures disclosed and explained in the financial slalemenls,. and
prepare the financial statements on the going concern basis unle55 It 15 inappropriate lo
presume that the company will conllnue in operation.

BUILDING SOCIETIES TRUST LIMITED
Page 4
OIRECTORS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees are responsible for keeping proper accounting records which dlsdose with reasonable
accuracy at any lirne the financial position of the charitable company and lo enabl& them lo ensure that the
financial stalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company and hence for tsking reasonable steps for the prevention and detection
of fraud and other irregularities.
SL*ement of dl8cIo8uro to audltor
In accordance with our role as the Gompatys dire¢lors for the purpose of company law we certlfy that..
so far a5 we are aware, there15 no relevant audit infomiallon of which the Gharill5 audltors a
unaware.. and
we have taken all the steps th81 we ought lo have taken In order lo make ourselves aware of
any relevant information and to establish that thé charity's auditors are aware of that
Informallon.
In preparSng Ihls report, the Dlrectors have lak8n advantage of th8 small Gompanles exemptsons provided
by Section 415A of Ihe Companies Act 2006.
Auditor•
MHA MacinlyTe Hudson were re.appointed as the charltable companrf5 auditors during the year and have
expressed Ihelr wlllingne$$ to continue in that cap8cIty.
Approved by the dlre¢lor$ on 29 June 2021 and sign&d on Its bahalf by..
L March
Chair

8UILDING SOCIETIES TRUST LIMITED
Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BUILDING SOCIETIES TRUST LIMITED
Opinion
We have audited the finAncial slalemenls of Building Societies Trust Limited Ilhe 'compan￿) for the year
ended 31 December 2020 which comprise the Statement of Financial Activities lin¢luding an Income and
Expendilure Account). Balance Sheet and notes lo the financial slalemenls, including a summary of
Signrficanl accounting policies. The financi81 reporting framework that has been applied in their preparation
is applicable law and United Kingdom Accounting Sianéards. including Financial Reporting Standard 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland {Uniled Klngdom Generally
Accepted Accounting Pracll¢el.
In our opinion the financial slatemenls..
give a true and fair view of the slate of the Companvs affairs as al 31 December 2020 and of
ils profit for the year then ended.,
have been properfy prepared In accordance with Uniled Klngdom Generally Accepted
Accounting Practice,. and
have been prepared in accordance with the requlremenls of the Companies Act 2006.
8a•l$ for opinion
We conducted out audit in accordance with Inlernallonal Standard5 on Auditing IUKI IISA8 IUKII and
applicable law. Our responsibilities under those standards are further described in the auditor's
re5ponsibililles lor the audit of the financial 61alements section of our report. We are Sndep8ndenl of the
company in accoriiance with the elhlcal requir8menls that are relevant lo our audit of the financial
slalemenls In the United Klngdom, including the Flnancial Reporting Council's Ethical Standard, and we
have fulfilled our other ethical respon¥ibililies in accordance with these wquiremen15. We believe Ihal th
audil evidence we have obtained is sufflcienl and appropriate lo provide a basls for our opinion.
Conclu8lon8 rnlatlng to golng concorn
In auditing the financial stalemenls. we have concluded that the dlreclors, use of the going concern
basis of accounting in the preparation of the flnanual slalemenls is appropriate.
Based on the work we have performed, we have not identrfied any material uncertainli8s relating lo
events or conditions that, indivldually or collectively, may casl signrficanl doubl on the Companvs ability
lo continue as a going concern for a period of al least Iwelve months from when the financial statements
are aulhorised for Issue.
Our re5ponsibililies and the responsibilities of the dire¢li)rs with respect lo going ¢oncern are described
in the relevant $eclion5 of this report.
Other Infomiatlon
The directors are responsible for the other information. Tho other information comprises the informalion
included in the Annual Report, olher than the financial slalemenl8 and our Auditor's Report Ihereon. Our
pinion on the financial slalemenls does not cover the olher infomiation and, except lo the extent
otherwise expliGilly staled in our report, we do not express any form ol assurance conclusion Ihereon.
In connection with our audll of the financial stalemenls. our responsibility is lo read the other Information
and, in doing so. consider whether the other information is materially inconsistent wlh the financlal
statements or our kn￿edge obtained in the audit or otherwise appears lo be materially misstated. If we
identrfy such material incon51slencies or apparent material misslalements. we are requlred lo determine
whether there Is a material misslalement in the financial statements or a material misstatement of the
other information. If, based on the work we have performed, we conclud8 that there is a material
migslal8menl of Ihis other information, we ar8 required lo ￿pOrt that fact.
We have nothing to report in this regard.

BUILDING SOCIETIES TRUST LIMITED
Page6:
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BUILDING SOCIETIES TRUST LIMITED
Opinions on oth•r matters pro8cribod by tho Cornpanles Act 2006
In our opinson, based on the work undertaken in the course of Ihe audit..
the infomiation gwen in the Directors. Rew)rt for the financial year for which the financial
statements are prepared is consistent with the financial slatemenls., and
the Directors, Report has been prepared in accordance with applicable legal requlrements.
Matters on which w• ar6 rèqulred to report by •xuption
In the light of our knowledge and understanding of the Company and ils environment oblain8d in the
course of thè audit, we have nol identified material mis5talements in Ihe Directors, Rewrt.
W8 have nothing to report in respect of the following matters Whe￿ the Companies Act 2006 requires us lo
port lo you If, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not
been received from branches not vislled by us., or
the financial slalemenls are not in agreement with the accounting records and returns,. or
ertain dlsclosures of Iru81e8s' r8munerallon ¥pecified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the dire¢lor$ wore not entitled lo prepare the financial statements in accordance with the small
companies regime and lake advantage of the small companies. exemptions In preparing the
directors, report and from the requirern8nl to prepare a strategic report.
R•5POnsSbllltlM of dlrector•
As explained rnore fully in the directors, re8ponsibililles 51alement sel out on page 3. the directors are
responsible for the preparation of the financial slalemenls and for being satisfied that they giv& 8 true and
fair view, and for such internal control as the directors determine is necessary lo enable the preparation of
financial sialemenls Ihal are free from material misslalemenl, whether due lo fraud or error.
In preparlng the financial 8lalem8nl$, the directors are responsible for a83e85ing the Company's abllity lo
continu8 as a going concern, disclosing, a5 applicable, mallers related lo going concern and using the
going concern basis of accounting unless the directors either intend lo liquidate the Company or lo cease
operations, or have no realistic allernalive bul lo do so.
Audltor'8 rosponsibilitial for tho audlt of the Ilnancial 3tatem•nt•
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are
free from material misstalemenl, whether due lo fraud or error. and to issue an auditor'8 report that
includes our opinion. Reasonable assurance Is a hlgh level of assurance, bul is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always delecl a material misstalemenl when il exists.
Misstalemenls can arise from fraud or error and are considered material if. indlviéually or in the aggregate,
they could ￿asonal￿Y be expected to influence the e¢Dnomic decisions of user5 taken on the basis of
these financial slalemenls.
Irregulari118s. including fraud, are instances of non-compliance wth laws and regulations. We design
procedures in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect
of irregularities, including fraud. The exlenl lo which our procedures are capable of delecling
irregularilies,including fraud is detailed below..

BUILDING SOCIETIES TRUST LIMITED
Page 7
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BUILDING SOCIETIES TRUST LIMITED
Enquiry of management around actual and potential litigation and claims.,
Enquiry of management lo idenlrfy any instances of non-complian￿ with laws and regulations,.
Performing audit work over the risk of management override of controls, including lesling of journal
entries and other adjuslmenls for appropriateness. evaluating the buslness rationale of significant
transactions outside the norm81 course of business and reviewing accounting eslimales for bias., and
Reviewing minutes of meetings of those charged with governance.
Because of the inherent limitations of an audit, there is a risk that we ￿11 not dete¢l all ir￿guI8r1Iie$,
includlng those leading lo a material misslalemènl in the financial statements or non-compliance with
regulation. Thi5 risk increases the more Ihat compliance with a law or regulallon is removed from the
evenl$ and Iransa¢tlons reflected in the financial slalemenls, as we will bg less likely lo become aware
of instances of non-compliance. The risk is also greater ￿gardIng Irregularities occurring due lo fraud
rather Ihan error, as fraud involve3 intentional concealment, forgery, collusion, omission or
misrepresenlalion.
A further description of our respon8lbilllies for the audit of the flnancial slatem8nts is located on the
Financial Reporting Council'5 website al.. www.frc.org.uklaudilorsresponsibililles. This descriplion fomis
part of our audilorfs report.
Uso of Our Roport
Th18 report is made solely lo the Company's members. as a body, In ¥c￿rdance with Chapter 3 of Parl 16
of the Companies Acl 2006. Our audit work has been undertaken so that we might slate lo the Compan1$
members those mallers we are required lo slate lo them in an auditor's report and for no other purpose.
To the fullest exlenl perrnilled by law, wo do nol accept or 8ssume responsibility to anyone other than the
Company 8nd the Companls members as a body, for our audit work, for this report, or for the opinions we
have formed.
DunGan Co¢hranfrDyet BSC BFP FCA, Sgnlor Statutory Audltor
For and on behalf of
MHA Maclntyre Hudson
Statutory Audltor•
Mald8tone
Unltgd Klngdom
Dale..
9 Jul 2021

BUILDING SOCIETIES TRUST LIMITED
Page 8
STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2020
2020
2019
Unrestricted Unrestrlcted
Funds
Funds
Noto
Incomlng R￿OUrCeS
Incoming resources from generating funds..
Investment income
107,556
134,429
Total Incoming Ra￿urceS
107,556
134,429
Resources Expended
Costs of charitable act￿lIeS
1153,578)
1127.8571
Total EX￿ndItUrn
{153,5781
1127,8571
Net loutgolngllln¢omlng r••ource8 for tho yoar before
other rocognlsod 108808
146.0221
6,572
Nel losseslgain8 on Investments
Not OXPondlturellncom• for the year
Reconclllatlon of funds
Balance brought forward 811 January 2020
178.483
614.925
1224,4851
821,497
4.464,238
3,842,741
Balan￿ ¢arrl•d lo￿ard at 31 Decambor 2020
4,239,753
4.464,238
The nel def￿11 for the year for Companies Act purposes Is the net deficit of {£224,485112019'. nel surplus of
£621.4971.
The notes on pag88 1010 14 form an Integral part of these financial slalements.

BUILDING SOCIETIES TRUST LIMThED
Pa￿9
BALANCE SHEET
AS AT 31 DECEMBER 2020
Nolo
2020
2019
Fixod Au•ts
Investments
4,160,609
4,409,072
Current A88•t8
Cash al bank and in hand
89,621
58,726
Crodltor8'. amounts falling due
wlthln one year
{10,477
3,560
Not Curront As80ts
79,144
55,166
Net Assets
4,239.753
4,464,238
Funds
Unre51rlcted funds
4.239,753
4,464,238
The financial 81alemen18 have been prepared In accordance wllh the provlslons applicable lo companSes
subject lo the Small companies, regime and in accordance with the provisions of FRS 102 Section 1 A
appliGable to small enlilie8.
The finan¢lal statements were approved by the board for issue on the 29 June 2021 and swdned on their
behalf by:
rch
Chair
Company roglgtratlon numb•r- 2110626
The notes on pages 10 10 14 form an integral part of these financial slatemonts

8UILDING SOCIETIES TRUST LIMITED
Page 10
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accountlng Pollcle8
al Gonoral Informallon and Basis of A¢¢ounting
The Building Soeieties Trust Limited is a charitable company limited by guarantee, and registered in
England within Ihe United Kingdom. The address of the regislereé Offi￿ 1$ glven on the Legal and
Adminislralive Informalion on Page 1. The nature of the charitable companls objectives and principal
activities are detailed on Page 2 of the Direclors, Report.
The financial $tslemenl8 have been prepared Sn accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charitie5 preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
102 Section 1A} leffeclive 1 January 20151 {Charilies SORP IFRS 102)), the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102 Section 1A) and the Companies Act
2006.
The charity has applied Updated Bulletin 1 as published on 2 February 2016 and does not include a
cash flow statement on the grounds that il is applying FRS 102 Section 1A.
The charity conslilules a public benefil enlily as defined by FRS 102 Section 1A.
The financial slalemenls have been prepared under the hlslorical cost convention. and on a going
concern basi5 a5 the Iruslees believe that no material uncerlainlies exist, The Iruslees have
considered the level of funds held and the expected level of income and expendilur8 for 12 months
from aulhorising these financial slalem8nls. The budgeted income and expenditure is sufficient ￿th
the level of resources for the charity lo be able lo continue as a going concern.
The significant activity policies applied in the preparallon of the88 fir)ancial slalement5 are sel out
below..
b} Golng Concern
The flnanci81 slalemenl$ have been prepared on a going concern basis. The Trustees have
considered relevant information and the impact of subsequent events in making Ihelr assessment,
The COVID-19 pandemic and the ensuring economlo shutdown ha5 had a significant impact on the
compan¥s operations as Building Societies Trust receives ils Income in the form ol dividends from
siock market inv851rnen15 and the arnounl of income received is likely lo decline.
In response lo the COVID-19 pandemic, the Trustees have performed a robust analysis of forecast ol
future cash flows taking Into account the potential impact on Ihe business of possible future scenarios
arising from the impact of COVID-19. This analysis also considers the effecliveness of available
measures to assist in miligaling tho impact.
Based on these assessments and having regard lo the resources available lo the enlily, the Tru51ees
have concluded that there is no material uncertainly and that Ihay can continue to adopt the going
concern basis in preparing the annual report and accounts.
cl Ba8lc Flnanclal Instruments
The company only has financial assels and financial liabilities of a kind that qualify as basic
Inslrumenls. Basic financial inslwmenls are inilally recognised al transaction value and subsequently
measured al their selllemenl value with the exception of bank loans which are subsequently
mea¥ured 01 amortised cost using the effective interest method.

BUILDING SOCIETIES TRUST LIMITED
Page11
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting Pollclos
dl Incoming ro$ourco8
Both donation income and other Income are credited lo the Statement of Finaneial Activities on an
accruals basis.
Inveslmenl income includes dividends and Inleresl. Dividends are recognised in the financlal
slalemenls on the d81e on which the price of the investment is quoted "ex-dividend" Interest income
is recognised on an accruals basis.
el Invo8tm•nts
Investments are staled at market value which is calculated usng the bid rale of the investment al the
year end. The Sialem8ril of Financial Activities Incl￿deS the nel gains and losses arising on
revaluations and di$po$al$ during the year.
fl Re8ourc•i oxpend6d
Charitable expenditure comprises of grant8 and tho88 costs of an indirocl nature necessary to support
their payments.
Support costs include govemance costs associated ￿th meeting the conslilulional and slalulory
requirements of the ¢harily and in¢lude the aijdil fee5 and costs linked lo the strategic management of
the charity.
All non grant expendtture is accounted for on an accru81s basis and Includes VAT which cannot b8
recovered.
Grants payable are accounted for when either the recipient has a reasonable expectation that they will
receive a grant and the Trustees have agreed lo pay the grant wilhoul condition, or the reciplenl has
reasonable expe¢lalion that they will receive a grant and any condition allaching lo the grant is
outside of the control of the charity.
All cost8 are allocated between the expendilure calagories of the Stalem8nl of Financial Activities on
basis designed lo reflect the use of the resource. Costs relating to 8 particular a¢livily are allocated
directly, others are apportioned on an appropriate ba515.
Investment Income
2020
2019
Income receivable from UK Fixed Interest securitie$
Dividends receivable from Equities
18,655
84,691
24,467
109.g62
Other Operating Income - Bank Swlch Incentive
4.210
107,556
134.429
Investment income of £103,34612019.' £134.4291 was attributable to unreslricled funds.

BUILDING SOCIETIES TRUST LIMITED
Page12
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 DECEMBER 2020
Costs of charitable actlvlt108
2020
2019
I grants consisl of one individual grant for the full amount lo
the following Inslilutions..
8SA Research (financial education)
Crisis
LaunGhpad (financial education, money management)
Caritas Anchor House (financial education. houslngl
Money Advice Trust (financial education. money management
MyBnk (financial education, money manag8mentl
Shelter Ifinancial edu¢alion, housing)
Treloar (financial education, money managemenll
Young Enterprisè Ifinan¢lal educallon, money managemenll
Total grants payable
Support CO815'.
Adminislralion fee - The Building Societies Associatlon
Bank charges
Governan¢e Costs - Audilols remunerallon
Insurance
Trustee expenses
Companies House fee
8,440
15,000
10,000
22,000
5.000
22,000
30,000
20,000
20,000
25,000
15,000
22,000
15,000
20.000
137.440
112,000
11.855
45
3,867
558
11,855
105
3,626
258
13
Total cttarilable expenditure
153.578
127,857
Cost of charllable activities of £153,57812019'. £127,857} were atlribulable lo unre5tricled funds.
T¥xatlon
The company ha8 charitable slalus and accordingly is not accountable for laxatlon In respect of 119
income.
Ll8ted Inve8tmont8
2020
2019
Common Inv•stmeTht Fund
287,836.44
BLK Charities UK Bond Fund A
587,038
582,914
411,737.97
BLK Charilles UK Equity Fund A
2,657,769
2,892.588
BlackRock Lump Sum & Regular Savlng8
57,833.11
81ackrock Dynamic Oiversified Growth
93,227
86,287
470,712.67
Blackrock Global Income Fund D Inc
842,576
847,283
4,160,609
4,409,072
Cost or valuatlon
Al 1 January 2020
Additions
Disposals
Revaluations"
4,409,072
3.794,147
3,333,655
170,000) 13,333.6551
178,463
614,925
Al 31 December 2020
4,160,609
4,409,072
Nel investment losses comprise net unrealised losses of £178,463 (2019. Net realised gains of
£614,925).

BUILDING SOCIETIES TRUST LIMITED
Page 13
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OECEMBER 2020
Credltors- amounts falling due Wlthln one year
2020
2019
Accruals
10.477
3,560
Status
The cornpany is limited by guarantee of the members. As al 31 December 2020 the company had
four mernbers, each of whom had given a guarantee for the sum of £1.
Employees
The company has no employee5, and consequently no romuneraled key management.
Truste
In 2020, the Trustees (who ware also the directors of the Building Societie5 Trust Ltd for the purpose
of company lawl were Mr Luke March (Chairl, Mr Andrew Golding, Mr Graham Kentli8ld lunlil 28 July
20201, Jahanara Rajkoomar (from 16 December 20201. Darrin Ramdeen (from from 16 December
20201 and Dr Peler Williams.
The Trustees give their lime freely and no Iruslee remuneration was paid Sn respect of their services
12019.. £Nill, although they were eligible lo be reimbursed for travel expenses on request. Durlng the
year, no Trustees received expen5e3 reirnbursed.12019.. Two Iruslees received expenses of £2581.
10
Rolat•d Party Transactlons
The affairs of the Building Societies Trust Limited are administered by the Building Societies
Associalion18SAI, under the direction of the Board. During the year, a grant of £8,440 was made in
respect ol the BSA'S financlal edLJcalion project. to develop the financi81 education provisions
provided by building societies. No grant payment was made during 2019.
The BSA received an adminislralion lee of £11,85512019'. £11,855). The adminislralion lee ¢overs
the costs of those services carried out by the BSA on the Tru51's behalf and includes accounting
duties, preparing board agendas and minutes, dealing with correspondence in respect of grant
applicalions, advising a5 to the legality of grant applications and preparing 5talulory returns. This
covers a three year period bebNeen 2019 - 2021 under a Tri-Annual agreement.
Mr R P Fielh is Adviser lo the Trust and Chief Executive of the BSA. Christopher Lawrenson lunlil 30
April 20201 was Legal.Adviser lo the Trust and Head of Legal Services al the BSA. Elaine Morton
became Legal Adviser lo the Trust from 1 May 2020 and is Head of Legal, Conduct Risk &
Compliance al the BSA.
Auditor's remun•ratlon
The auditor's remuneration amounts lo an audit fee of £3,66712019.' £3.5601.
12 Controlling Party
There is no on8 controlling party.
13
Flnancial Commltments
Al 31 December 2020 the charity has commilled lo grant expenditure 01 £21.81012019'. £38,440
between the years 2020 10 2021 inclusivel.

BUILDING SOCIETIES TRUST LIMITED
P8ge14
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
14 Statement of Funds
Summary of Funds
Balanc• at
Ilossg8llGalns
31
on Investmonts D•cèmbèr
2020
8alan¢• at 1
January 2020
Income
Expendlturg
Current Year
Unre51rlcled funds
4,464,238
107,556
1153,578)
1178,4631
4,239.753
Balon¢g at
31
Decemb•r
2019
8alanc• at 1
January 2019
In¢omo
Expondltur•
Galn81{IosSg¥1
on invo8tmont•
Prior Year
Unreslricled funds
3,842,741
134,429
1127.8571
614,925
4.464,238
15 Analy818 of N•t Ass•ts B•tw••n Funds
Unrestrictgd
funds
2020
Total
fund•
2020
Total
funds
2019
Investments
OlheT debtors
Cash al bank and
in hand
Creditors
4.160.609
4,100.009
4.409.072
89,621
89,621
58,728
(10,477>
110,4771
13,5601
4.239.753
4,239.753
4.484.238