2022-04-05-accounts

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REFERENCE AND ADMINISTRATIVE INFORMATION
TRUSTEES' ANNUAL REPORT	2-5
INDEPENDENT EXAMINER'S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE FINANCIAL STATEMENTS	9-14

Trustees during the year	Trustees during the year	Claire Elizabeth	Sharp
		Paul Cattermull
		Roy Neil Arthur
		John Andrew Chadwick
Registered	Name	H M Hubbard Law Scholarship				Fund
Registered	Charity No.	313533
Principal Office		TMF Global Services IUK) Ltd
		960Capability	Green
		Luton
		Bedfordshire
		LU1 3PE
Sogcitors		Debenhams Ottaway		LLP
		Ivy House, 107StPeter's Street
		StAlbans
		Herffordshire
		AL1 3EW
Independent	Examiner	Mr Stephen Mason BScFCA
		FKCA Limited
		260-270 Great	Marlings
		Butterfield Business Park
		Luton
		LU2 BDL
Accountants	and Trust Managers	TMF Global Services IUK) Ltd
		960Capability Green
		Luton
		Bedfordshire
		LU1 3PE
Investment	Advisers	Investec Wealth	and investment			Limited
		30Gresham Street
		Loiidon
		EC2V 7QN
Bankers		CAF Bank
		26 Kings Hill Avenue
		Kings Hill, West	Maging
		Kent
		ME194JQ
Website		www. hubbardlawscholarship.			corn

		Unrestricted
		General	Law
		Fund	Scholarship	Permanent		Total
		Income	Income		2022	2021
	Note	E	6		E	E
INCOME & ENDOWMENTS
Investments		68,961			68,961	65,265
TOTAL INCOME		68,961			68,961	65,265
EXPENDITURE
Cost ofgenerating funds	3			19,186	19,186	18,243
Charitable activities	4	36,616	(4,000)	7,558	40,174	30,746
TOTAL EXPENDITURE		36,616	(4,000)	26,744	59,360	48,989
NET INCOME/(EXPENDITURE)	BEFORE GAINS AND
LOSSESON INVESTMENTS		32,345	4,000	(26744)	9,601	16,276
Net gains/(losses) on investments				126,612	126,612	523,492
NET INCOME/(EXPENDITURE)	AFTER GAINS AND		4,000
LOSSES ON INVESTMENTS		32,245		99,868	136,213	539,768
TRANSFER BETWEEN FUNDS	6	(30,000)	30,000
OTHER RECOGNISED GAINS/(LOSSES)
Gains/(losses) on currency
NET MOVEMENT IN FUNDS		2,345	34,000	99,868	136,213	539,768
FUND BAIANCES BROUGHT FORWARD		20,039	42,292	2,471,447	2,533,778	1,994,010
FUND BALANCES CARRIED FORWARD		22,384	76,292	2,571,315	2,669,991	2,533,778

				General	Law
				Fund	Scholarship	Permanent		Total	Total
				Income	Income	Endowment		2022	2021
			Note	6				6	E
FIXEDASSETS
Investments - quoted						2,636,240		2,636,240	2,526,962
						2,636,240		2,636,240	2,526,962
CURRENT ASSETS
Amount lent to Permanent		Endowment	6		So,aao			50,000	50,000
					50,000			50,000	50.000
Cash
Bank current accounts				29,700	25,011	(6,5521		48,159	49,097
Bank deposit account					1,281			1,281	1,281
				29,700	26,292	(6,552)		49,440	50,378
TOTAL CURRENT ASSETS				53,700	76,292	(6,552)		99,440	100,378
LIABIUTIES:amounts	falling	due within one year
Creditors			8	7,316		8,373		15,689	19,562
Amount lent by income Accounts						50,000		50,000	50,000
				7,316		58,373		65,689	69,562
NET CURRENT ASSETS/(LIABIUTIES)				22,384	76,292	(64,925)		33,751	30,816
TOTAL ASSETSLESSCURRENT LIABILITIES				22,384	76,292	2,571,315		2,669,991	2,557,778
LIABILITIES:amtwnts	falling	due aher one year
Creditors									24,000
NETASSETS				22,384	76,292	2,571,315		2,669,991	2,533,778
Representing:
FUNDS -RESTRICTED
Permanent Endowment						2,571,315		2,571,315	2,471,447
Law Scholarship Income Account					76,292			76,292	42,292
FUNDS -UNRESTRICTED
General Fund Income	Account			22,384				22,384	20,039
				22,384	76,292	2,571,315		2,669,991	2,533,778
Approved by the Trustees on:
			Date	and	signed on their	behalf by:	Ms CSharp - Trustee

				Total	Total
				2022	2021
				E	E
Investment	Income
Investment	income -	UK listed		50,273	50,486
Investment	income -	Overseas	listed	19,136	15,238
				69,409	65,724
Less: Non-recoverable		and overseas tax		(449)	(460)
Deposit interest				1	1
				68961	65 265

COSTOF G	ENERATIN	G FUNDS
			General	Permanent	Total
			Fund Income	Endowment	2022	2021
Comprise:			E	E	E	E
Investment	advisers'	charges		19,186	19,186	18,243

		Unrestricted	Law
		General	Scholarship		Total	Total
		Fund Income	Income	Permanent	2022	2021
						E
EXPENDITURE
Grants awarded	4b	20,039	I4,000)		16,039
Grant support costs	4a	2,112			2,112	3,128
Governance costs	4c	14,465		7,558	22,023	27,618
TOTAL EXPENDITURE		36,616	I4,000)	7,558	40,174	30,746

shown in the	table	belo	w:
					Grant			2022	2021
					Support			Total	Total
Cost Type					Costs		Governance	Allocated	Allocated
					E		E	6	E
independent	examiner's		fees				1,410	1,410	1,350
Accountancy	and administration			fees		857	16,280	17,137	22,137
Solicitors' fees						655	3,710	4,365	5,396
Bank charges							103	103	131
Publicity expenses						600		600	1,212
Information	Commissioner						35	35	35
Trustees' Indemnity		Insurance					485	485	485
					2,112		22,023	24,135	30,746

					Grants	Support
					Awarded	Costs	2022	2021
					E	E	E	E
Scholarship	Awards
Grant	written	back - see below			(24,000)		(24,000)
2022	academic		year		20,000	1,690	21,690	2,907
SBA
One grant (2021-0)for solicitors					20,039	422	20,461		221
	and		their families	in need
					16,039	2,112	18,151	3,128

							2022
						General	Permanent
						Fund Income	Endowment	Total	2021
						6	E	E	6
Independent		examiner's		fees		1,410		1,410	1,350
Accountancy		and administration			fees	11,996	4,284	16,280	21,030
Solicitors'	fees					436	3,274	3,710	4,587
Bank charges						103		103	131
Information		Commissioner				35		35	35
Trustees'	Indemnity		Insurance			485		485	485
						14,465	7,558	22,023	27,618

						2022	2021
						Total	Total
						6	E
Market value	at 5 April 2021					2,514,960	1,980,626
Acquisitions at cost						414,594	394,055
Sales proceeds from disposals						(507,986)	(383,213)
(Loss)/gam in	the year					126,612	523,492
Market value	at 5 April 2022					2,548,180	2,514,960
Cash held within the investment		portfolio				88,060	12,002
						2,636,240	2,526,962
UK equities and collective investments						2,382,069	2,276,097
UK government	and other fixed	interest		stocks		166,111	238,863
Market value at 5 April 2022						2,548,180	2,514,960
Historical cost	at 5 April 2022					1,745,713	1,720,506
The following	investment comprises		more than 5%ofthe value ofthe investment			portfolio:
Name					Holding	Market Value
SPDR S&P500	ETFTrust USD Distribution			shares	550	E188,927
CREDITORS
						2022	2021
Amounts falling due within one year
Accruals						15,689	17,744
Other creditors							1,818
						15,689	19,562
Amounts falling due after one year
Scholarship 2022/2023							24,000
						15,689	43,562

				Fund					Fund
				balances				Gains	balances
				brought				and	carried
				forward	Income	Expenditure	Transfers	Losses	forward
							E	E
Unrestricted		Funds
	General		fund income	20,039	68,961	(36,616)	(30,000)		22,384
Law	Scholarship		income	42,292		4,000	30,000		76,292
Permanent		Endowment		2,471,447		(26,744)		126,612	2,571,315
Total				2,533,778	68,961	(59,360)		126,612	2,669,991