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||||||Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2020|2020|2019|
|||||Note|E|||
|Income and endowments|from:|||||||
|investments||||2|327,317|327,317|409,024|
|Total income and endowments|||||327,317|327,317|409,024|
|Expenditure<br>on:||||||||
|Raising funds||||3|49,595|49,595|50,660|
|Charitable<br>activities||||5|769,685|769,685|702,345|
|Total expenditure||||6|819,280|819,280|753,005|
|Net expenditure<br>before investment|||gains||(491,963)|(491,963)|(343,981)|
|Net gains on investments||||11|39,557|39,557|1,404,951|
|Net income I(expenditure)||before other recognised||gains||||
|and losses|||||(452,406)|(452,406)|1,060,970|
|Net movement<br>in funds|||||(452,406)|(452,406)|1,060,970|
|Reconciliation<br>offunds:||||||||
|Total funds brought<br>forward|||||12,192,637|12,192,637|11,131,667|
|Total funds carried forward|||||11,740,231|11,740,231|12,192,637|
|The notes on pages 11to 22||form part ofthese financial||statements.||||





## 

|||||Note||2020f||2019<br>E|
|---|---|---|---|---|---|---|---|---|
|Fixed assets|||||||||
|Tangible assets||||9|||120||
|Investment|property|||10|600,000||600,000||
|Total tangible assets||||||600,000||600,120|
|Investments||||||11,241,126||11,395,117|
|||||||11,841,126||11,995,237|
|Current assets|||||||||
|Debtors|||||18,775||693||
|Cash at bank and||in|hand||||205,705||
||||||18,775||206,398||
|Creditors:|amounts||falling due within one||||||
|year||||13|(119,670)||(8,998)||
|Net current|(liabilities)/assets|||||(100,895)||197,400|
|Net assets||||||11,740,231||12,192,637|
|Charity Funds|||||||||
|Endowment|funds|||15||11,740,231||12,192,637|
|Total funds||||||11,740,231||12,192,637|



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|2.|Investment|income|||||
|---|---|---|---|---|---|---|
|||||Endowment|Total|Total|
|||||funds|funds|funds|
|||||2020|2020|2019|
||||||E||
||Investment|properties -|rental income|51,060|51,060|51,643|
||Listed investments|||276,204|276,204|356,815|
||Interest received|||53|53|566|
|||||327,317|327,317|409,024|
||Total 2019|||409,024|409,024||
|3.|Costs ofraising funds||||||
|||||Endowment|Total|Total|
|||||funds|funds|funds|
|||||2020|2020|2019|
||||||F||
||Investment|management|fees|47,952|47,952|49,243|
||Insurance|||1,643|1,843|1,417|
|||||49,595|49,595|50,660|
||Total 2019|||50,660|50,660||
|4.|Analysis ofgrants||||||



|Analysis ofgrants||||
|---|---|---|---|
||Grants to|||
||Individuals|Total|Total|
||2020|2020|2019|
||E|||
|Grants to institutions|526,300|526,300|430,057|
|Grants to individuals|217,804|217,804|246,163|
||744,104|744,104|676,220|
|Total 2019|676,220|676,220||





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||||Endowment|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020|2020|2019|
|Auditors'|remuneration||3,930|3,930|4,170|
|Office costs|||952|952|661|
|Administration||expenses|20,000|20,000|20,964|
|Computer|costs||579|579|144|
|Depreciation|||120|120|186|
||||25,581|25,581|26,125|



## 

|Analysis o|fExpenditure|by expenditure|type||||
|---|---|---|---|---|---|---|
||||Depreciation|Other costs|Total|Total|
||||2020<br>E|2020<br>f.|2020<br>E|2019f|
|Expenditure|on investment|management||49,595|49,595|50,660|
|Costs ofraising funds||||49,595|49,595|50,660|
|Grants to institutions||||526,300|526,300|430,057|
|Grants to individuals||||217,804|217,804|246,163|
|Charitable|activities|||744,104|744,104|676,220|
|Expenditure|on governance||120|25,461|25,581|26,125|
||||120|819,160|819,280|753,005|
|Total 2019|||186|752,819|753,005||





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|9.|Tangible fix|ed assets||||
|---|---|---|---|---|---|
||||Office|Computer||
||||equipment|equipment|Total|
||||E|||
||Cost|||||
||At 1 January|2020 and 31 December 2020|169|971|1,140|
||Depreciation|||||
||At 1 January|2020|169|851|1,020|
||Charge for the year|||120|120|
||At 31 December 2020||169|971|1,140|
||Net book value|||||
||At 31 December 2020|||||
||Af 31December 2019|||120|120|
|10.|Investment|property||||
||||||Freehold|
||||||investment|
||||||property|
||Valuation|||||
||At 1 January|2020 and 31 December 2020|||600,000|





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|Fixed asset investments|||
|---|---|---|
|||Listed|
|||securities|
|Market value|||
|At 1 January 2020||11,554,046|
|Additions||2,018,806|
|Disposals||(2,877,174)|
|Revaluations||762,627|
|At 31 December 2020||11,458,305|
|Impairment|||
|At 1 January 2020||158,929|
|Charge for the year||58,250|
|At 31 December 2020||217,179|
|Net book value|||
|At 31 December 2020||11,241,126|
|At 31December 2019||11,395,117|
|Investments<br>at market value comprise:|||
||2020|2019|
||K||
|Listed investments|11,241,126|11,395,117|





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|Material investments|||||
|---|---|---|---|---|
||||31 December|31December|
||||2020|2019|
|Hermes<br>Investments<br>Global Emerging|Markets JG||228,072|96,954|
|Charity Prop Property<br>Fund|||1,030,570|1,057,918|
|Vanguard<br>Funds Pic S&P500 Ucits Eff|Inc GBP||1,189,470|648,848|
|Findlay Park Fds American<br>USD Dis|||442,702|472,794|
|Baillie Gifford Amer B NAV Inc|||860,472|387,261|
|INT Public Partner<br>Ord GBP0.0001|||305,117|140,906|
|M&G Investment<br>Man Corporate<br>Bd<br>I GBP Inc|||297,882|290,016|
|Schroder Inv Mg E, ISFAsian Total Rtn|C GBP||224,817|89,894|
|Henderson<br>Gbl Invs European<br>Seleted|Opps|I inc Sett|302,812|276,078|
|Mercantile<br>Investm<br>Ord GPB0.025|||244,530|258,871|
|Citigroup<br>Inc, 5.15'/o Snr Emtn 21/05/26|GBP||245,920|241,790|
|RioTinto Ord 10p|||211,844|234,143|
|38 High Street, Maidenhead<br>(Investment|property)||600,000|600,000|
|Scottish Widows<br>Lt, 5.5'/o Sub 16/06/23|GBP100000||221,960|222,830|
|Ishares FTSE250, FTSE250 Ucits E]ff|||297,882|93,713|
||||6,704,050|5,112,016|



## 

|12.|Debtors|||||
|---|---|---|---|---|---|
|||||2020f|2019<br>E|
||Other debtors|||17,727||
||Prepayments|and accrued income||1,048|693|
|||||18,775|693|
|13.|Creditors: Amounts||falling due within one year|||
|||||2020|2019|
||Bank loans and overdrafts|||9,178||
||Trade creditors|||1,119|98|
||Other creditors|||100,473||
||Accruals and deferred||income|8,900|8,900|
|||||119,670|8,998|





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|Financial|instruments||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
|Financial|assets measured|at fair value through||income and|||
|expenditure|||||11,241,126|'I1,395,117|
|Financial|assets measured|at amortised|cost||18,775|205,705|
||||||11,259,901|11,600,822|
|Financial|liabilities measured|at amortised|cost||(119,670)|(8,998)|



## 

|Statement|offunds - current, year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at||||31|
|||1January|||Gains/|December|
|||2020|Income|Expenditure|(Losses)|2020|
||||||E||
|Endowment|funds||||||
|Endowment|Funds - all funds|12,192,637|327,317|(819,280)|39,557|11,740,231|
|Statement|offunds - prior year||||||
|||||||Balance at|
|||Balance at||||3'I|
|||1January|||Gains/|December|
|||2019|Income|Expenditure|(Losses)|2019|
|Endowment|Funds - all funds|11,131,667|409,024|(753,005)|1,404,951|12,192,637|
|Total offunds||11,131,667|409,024|(753,005)|1,404,951|12,192,637|





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## 

|||||||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Balance at||||31|
|||||||1 January|||Gains/|December|
|||||||2020|Income|Expenditure|(Losses)|2020|
|Endowment|funds|||||12,192,637|327,317|(819,280)|39,557|11,740,231|
|Summary||offunds|-|prior|year||||||
|||||||||||Balance at|
|||||||Balance at||||31|
|||||||1January|||Gains&|December|
|||||||2019|Income|Expenditure|(Losses)|2019|
|Endowment|funds|||||11,131,667|409,024|(753,005)|1,404,951|12,192,637|



## 

|Analysis o|f net assets between funds<br>-current year|||
|---|---|---|---|
|||Endowment|Total|
|||funds|funds|
|||2020|2020|
||||E|
|Fixed asset investments||11,241,126|11,241,126|
|Investment|property|600,000|600,000|
|Current assets||18,775|18,775|
|Creditors due within one year||(119,670)|(119,670)|
|||11,740,231|11,740,231|





## 

|Analy|sis of net asse|ts betw|een<br>funds - prior ye|ar|||||
|---|---|---|---|---|---|---|---|---|
|||||||Endowment||Total|
|||||||funds||funds|
|||||||20'/9||2019|
|Tangible fixed assets|||||||120|120|
|Fixed|asset investments|||||11,395,|117|11,395,117|
|Investment<br>property||||||600,|000|600,000|
|Current assets||||||206,|398|206,398|
|Creditors due within||one year||||(8,998)||(8,998)|
|||||||12,192,637||12,192,637|
|17.|Grant Commitments||||||||
|||||||Total||Total|
|||||||2020||2019|
||At 31 December 2020||the charity had commitments||as follows:||||
||Commitments|in respect ofgrants approved||for projects which|||||
||have not been|accrued|in the financial statements||but will form part||||
||of grants:||||||||
||Within one year|||||||128,037|



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