## **THE BLANDFORD TRUST** 

## **Annual Review** 

## **Year to 31[st] December 2020** 

## **SUMMARY** 

In overall terms, the year has been one of Consolidation in Investment terms  whilst maintaining the planned level of Benefactions. 

Our portfolio is constantly monitored, the Brokers have clear instructions as to our attitude to risk. We are in a suitably defensive position in respect of the level of our income and we should be able to weather any significant falls in the Market as and when they occur. 

## **INVESTMENTS** 

The Brokers have monitored the Market and during the year  and have accepted losses of £37,591 . 

Our portfolio which was valued on 31[st] December 2020 at £654k…………which , given the difficulties as a result of Covid is considered reasonable 

## **INCOME** 

Our income fell from £35k in 2018 to £31k in 2020 . The running yield is projected as being about £30k which is in line with our instructions. 

## **BENEFACTIONS** 

In 2020  our Benefactions amounted to  £34k………which sum, with our Trustee’s expenses, meant that in overall terms, we expended slightly more than our income for the year.  This situation  was anticipated  and our underlying level of capital  is considered acceptable and in line with our philosophy. 



LANDFORD T
ST
ACCOUNTS FOR THE YEAR ENDED
31 DECEMBER

BLANDFORD TRUST
INCOME AND EXPENDITURE ACCOUNT
FOR
YEAR ENDED 31 DE
EMBER 2020
2Q
019
INCOME
Inwme from InvesLrnents
3(IP85
34.81yJ
Trust Expenses
2,024
BENEFACTIONS
DEMAND
Hert8 Young Homdess
Herts Inclusive Theatre
Aspects
Grove Cotta8e
The Counselling Foundatton
Herts Community Foundation (Admin)
SPACE
Business Education Even¢$
Youth Talk
Trestl¢ Theatre Compally
Contact (For families with disable41 childrell)
Rcnnie Grove Hospice Care
The Gifted
Kexh Hospice Care
Nonhallts Community Foundation
2,000
5,IXIO
s￿0
1.000
5,000
5.(K)O
5.0(Ki
4.914
1,500
2.000
2.5(M)
5.0(K)
00 35J24
DEFICIT FOR THE YEAR
<4J39)
(1.638)
BALANCE BROUGHT FORWAIU)
ISS394
157232
BALANCE CAIUUED FORWARD
151
CAPITAL ACCOUNT
Balance Browtbt Forw•rd
525,008
488,145
t4)y￿Profit on S￿e of InveJtmeDtI
(37J91)
36,863
Bgl•u¢e C￿rIed Fonvard
Weapprovedthes¢a¢countson........................... ......2021
SigttedonbehalfoftheTrustees........................................Trustee

BLANDFORD TRUST
ALANCE
EET
FOR TIIE YEAR
ED JI DECEMBER 202
INVESTMENTS (Me J¢beduie)
62S438
655.577
CURRENT ASSETS
Cash at EFG Harris Allday
C&sh at Bank
Accwed Interest and Dividends Receivable
4,715
12.235
11,711
861
Les$: CURRENT LIABILITIES
Sundry Cye41itors
3411
340
NET A&SETS
680002
Repwented By:
CAPITAL ACCOUNT
487A17
525,Cl)8
INCOME ACCOUNT
151
155 594
680 602

INDEPEfffjENT EK4MINERS' REPORT TO
THE TRUSTEES OF THE BLANDFORD TRUST
I have examined th¢ flnancial statm¢nts of th¢ Blandford Trust for the year ended 31 Ikcember 2020 which comprise
statement of income and upenditur¢ acwwt and balauce sbeet.
tive R¢s onsibilities of Truslees and Examiner
The charity's t￿￿tee8 are responsible for th¢ preparation of the 4¢rount& Th¢ ¢F￿nty'S trustee$ consider that an audit is
not required for this year under scction 144 of the Cbarities Act 2011 (the Charities Act) and that an ittdepffldent
exarnination is needed.
It is my responsibility to:
a) exaTnin¢ the accounts und¢r section 145 of the Chariti&s ACL
b) to follow ih¢ piocedures laid down tn the General DIr￿tiOnS given by the Charity ConunI￿On (under Scction
145(5)(b) of the Charities A4 and
c) to state wbeth¢r panicular matters have Come to my ottention.
Basis of Jndc
ndent Examina5, Re
ort
My examination w&s carried out 11] accordance with General ThrectiODS given by the Charity Commi&sio]L
examinalion Includes a review of the ￿0￿nting re¢ords kept by the charity and a comparison of the accounts prrsent
with those r￿rds. It also includes eonsidetation of any unusual item$ or disclosures in the acwunt& and seeking
explanations frorn th¢ ttMst¢es ¢oncerRing any such matters. The procedur¢s undertthn do not Provide all the evidence
that would be r¢quircd in an audit. and consequently, no opinion 15 gÈven as to whether th¢ accounts present a 't￿¢ ajjd
foir view. and the rcport 1$ lirnited to thos¢ matters sd out in the statement below.
Ind¢
¢ndent Examiners. Ststement
In conncction with my eX￿nInatIOn, no matter has com¢tO my ￿entiOn.
l) which gives m¢ reawnable cause to believe th* in, any rnaterial r¢speffj th¢ truste&s bave ttot met the
requirernents to ensur¢ that.
&) proper Rccountins records ar¢ kept in ac¢oTdance with section 130 of the Charities Act; and
b) accounts are prepared which agrc¢ with the a¢¢ounting re¢ords and comply with the accounting requir¢m¢nts of
the Cbarittes Aci. or
2) to whieh. in my opinion, attention should be drdwn in order ¢0 eDable a proptt understanding of the accounts to
be reachrd.
. arab J WUli4ms FCA
LL BAI
EY&COLTD
h8rtered A
OIiDtfjnts
THWAITE
BLA
Ly￿h Farm
The Lynch
Kettsworth LU6 3QZ
I Se tember 2021

Closlng Cost
Closing Value
31st December 2020
Middlefield Canadian IncGBP PCC
TwentyFour Income Fund Red GBP 0.01
Target Healthcare REIT GBP 0.01
Diverse Income Trust PLC GBP 0.￿1
Glaxo Smith Kline PLC GBP 0.25
IP Morgan Claverhouse Inv GBP Q25
Ruffer Inv Co Ltd Red PTG Pref SHS
Tritax Blg Box REIT PLC GBP 0.01
Dunedin IncGrowth INVTSTGBPO.25
Seneca GBL Inc & Groeth TST GBP 0.25
RM Secured Dlrect Lending GBP 0.01
SDCL Enerey Efflciency Inc Trust
GCP Infrastructure Inv Ltd GBP QOI
Primary Health Props GBP 0.125
B8GI Global Infrastructure S A GBO
Supermarket REIT PIC GBP 0.01
Gravts Clean Energy Inc FD C Inc
BB Hea￿h¢are Trust PLC
40,CKK)
39,Y4.75
36.8￿.
31,81M).
17,IC(J.00
34.650.1KI
16.775.00
25.960.00
60.260.00
50.370.00
58,11)0.00
20.593.75
13,050.00
31,577.25
43.600.
53.480.
30.415.CK)
31,950.LKI
54,077.52
44,375.00
15,365.75
30,260.&7
20,465.87
24,289.15
52,118,84
35,907.82
57.917A6
ti 22,275,06
15,145.63
31.520.22
45,601.23
51316.98
29.580.78
31.662.88
48,127.88
42.831.49
35.(XKI
L250
23,(MXJ
30,(X
20,1￿0
12.500
15,IK
29.650
40,000
35.000
' 17.SCLI
25,0
25,000
625N37A7
654,933.52

LANDFORD T
ST
ACCOUNTS FOR THE YEAR ENDED
31 DECEMBER

BLANDFORD TRUST
INCOME AND EXPENDITURE ACCOUNT
FOR
YEAR ENDED 31 DE
EMBER 2020
2Q
019
INCOME
Inwme from InvesLrnents
3(IP85
34.81yJ
Trust Expenses
2,024
BENEFACTIONS
DEMAND
Hert8 Young Homdess
Herts Inclusive Theatre
Aspects
Grove Cotta8e
The Counselling Foundatton
Herts Community Foundation (Admin)
SPACE
Business Education Even¢$
Youth Talk
Trestl¢ Theatre Compally
Contact (For families with disable41 childrell)
Rcnnie Grove Hospice Care
The Gifted
Kexh Hospice Care
Nonhallts Community Foundation
2,000
5,IXIO
s￿0
1.000
5,000
5.(K)O
5.0(Ki
4.914
1,500
2.000
2.5(M)
5.0(K)
00 35J24
DEFICIT FOR THE YEAR
<4J39)
(1.638)
BALANCE BROUGHT FORWAIU)
ISS394
157232
BALANCE CAIUUED FORWARD
151
CAPITAL ACCOUNT
Balance Browtbt Forw•rd
525,008
488,145
t4)y￿Profit on S￿e of InveJtmeDtI
(37J91)
36,863
Bgl•u¢e C￿rIed Fonvard
Weapprovedthes¢a¢countson........................... ......2021
SigttedonbehalfoftheTrustees........................................Trustee

BLANDFORD TRUST
ALANCE
EET
FOR TIIE YEAR
ED JI DECEMBER 202
INVESTMENTS (Me J¢beduie)
62S438
655.577
CURRENT ASSETS
Cash at EFG Harris Allday
C&sh at Bank
Accwed Interest and Dividends Receivable
4,715
12.235
11,711
861
Les$: CURRENT LIABILITIES
Sundry Cye41itors
3411
340
NET A&SETS
680002
Repwented By:
CAPITAL ACCOUNT
487A17
525,Cl)8
INCOME ACCOUNT
151
155 594
680 602

INDEPEfffjENT EK4MINERS' REPORT TO
THE TRUSTEES OF THE BLANDFORD TRUST
I have examined th¢ flnancial statm¢nts of th¢ Blandford Trust for the year ended 31 Ikcember 2020 which comprise
statement of income and upenditur¢ acwwt and balauce sbeet.
tive R¢s onsibilities of Truslees and Examiner
The charity's t￿￿tee8 are responsible for th¢ preparation of the 4¢rount& Th¢ ¢F￿nty'S trustee$ consider that an audit is
not required for this year under scction 144 of the Cbarities Act 2011 (the Charities Act) and that an ittdepffldent
exarnination is needed.
It is my responsibility to:
a) exaTnin¢ the accounts und¢r section 145 of the Chariti&s ACL
b) to follow ih¢ piocedures laid down tn the General DIr￿tiOnS given by the Charity ConunI￿On (under Scction
145(5)(b) of the Charities A4 and
c) to state wbeth¢r panicular matters have Come to my ottention.
Basis of Jndc
ndent Examina5, Re
ort
My examination w&s carried out 11] accordance with General ThrectiODS given by the Charity Commi&sio]L
examinalion Includes a review of the ￿0￿nting re¢ords kept by the charity and a comparison of the accounts prrsent
with those r￿rds. It also includes eonsidetation of any unusual item$ or disclosures in the acwunt& and seeking
explanations frorn th¢ ttMst¢es ¢oncerRing any such matters. The procedur¢s undertthn do not Provide all the evidence
that would be r¢quircd in an audit. and consequently, no opinion 15 gÈven as to whether th¢ accounts present a 't￿¢ ajjd
foir view. and the rcport 1$ lirnited to thos¢ matters sd out in the statement below.
Ind¢
¢ndent Examiners. Ststement
In conncction with my eX￿nInatIOn, no matter has com¢tO my ￿entiOn.
l) which gives m¢ reawnable cause to believe th* in, any rnaterial r¢speffj th¢ truste&s bave ttot met the
requirernents to ensur¢ that.
&) proper Rccountins records ar¢ kept in ac¢oTdance with section 130 of the Charities Act; and
b) accounts are prepared which agrc¢ with the a¢¢ounting re¢ords and comply with the accounting requir¢m¢nts of
the Cbarittes Aci. or
2) to whieh. in my opinion, attention should be drdwn in order ¢0 eDable a proptt understanding of the accounts to
be reachrd.
. arab J WUli4ms FCA
LL BAI
EY&COLTD
h8rtered A
OIiDtfjnts
THWAITE
BLA
Ly￿h Farm
The Lynch
Kettsworth LU6 3QZ
I Se tember 2021

Closlng Cost
Closing Value
31st December 2020
Middlefield Canadian IncGBP PCC
TwentyFour Income Fund Red GBP 0.01
Target Healthcare REIT GBP 0.01
Diverse Income Trust PLC GBP 0.￿1
Glaxo Smith Kline PLC GBP 0.25
IP Morgan Claverhouse Inv GBP Q25
Ruffer Inv Co Ltd Red PTG Pref SHS
Tritax Blg Box REIT PLC GBP 0.01
Dunedin IncGrowth INVTSTGBPO.25
Seneca GBL Inc & Groeth TST GBP 0.25
RM Secured Dlrect Lending GBP 0.01
SDCL Enerey Efflciency Inc Trust
GCP Infrastructure Inv Ltd GBP QOI
Primary Health Props GBP 0.125
B8GI Global Infrastructure S A GBO
Supermarket REIT PIC GBP 0.01
Gravts Clean Energy Inc FD C Inc
BB Hea￿h¢are Trust PLC
40,CKK)
39,Y4.75
36.8￿.
31,81M).
17,IC(J.00
34.650.1KI
16.775.00
25.960.00
60.260.00
50.370.00
58,11)0.00
20.593.75
13,050.00
31,577.25
43.600.
53.480.
30.415.CK)
31,950.LKI
54,077.52
44,375.00
15,365.75
30,260.&7
20,465.87
24,289.15
52,118,84
35,907.82
57.917A6
ti 22,275,06
15,145.63
31.520.22
45,601.23
51316.98
29.580.78
31.662.88
48,127.88
42.831.49
35.(XKI
L250
23,(MXJ
30,(X
20,1￿0
12.500
15,IK
29.650
40,000
35.000
' 17.SCLI
25,0
25,000
625N37A7
654,933.52