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2020-03-31-accounts

			Page
Reference and administrative	details ofthe charity, its trustees	and advisers
Trustees' report			2-5
Independent examiner's report
Statement offinancial activities
Balance sheet
Statement ofcash flows
Notes to the financial statements			10 - 19

Reference and administrative details ofthe charity, its	Reference and administrative details ofthe charity, its	Reference and administrative details ofthe charity, its	Reference and administrative details ofthe charity, its	trustees	and advisers
for the year	ended 31 March 2020
Trustees		C N M James OBE, DL
		R G Holland-Martin
Charity registered
number		326311
Principal office		94 Old Church Street
		London
		SW3 6EP
Chief executive officer		The Settlement	is administered	from 94	Old Church Street, London, SW3 6EP by
		the lead Trustee	R G Holland-Martin.
Accountants		Kreston Reeves	LLP
		Chartered Accountants
		Third Floor
		24 Chiswell Street
		London
		EC1Y4YX
Bankers		CAF Bank Limited
		25 Kings Hill Avenue
		Kings Hill
		West Mailing
		Kent
		ME194JQ
Solicitors		Charles Russell	Speechlys
		Compass House
		Lypiatt Road
		Cheltenham
		Gloucestershire
		GL50 2QJ
Investment	managers	Brewin Dolphin
		48 StVincent Street
		Glasgow
		G2 5TS

for the year ended	31 March 2020
			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	2019
		Note
Income from:
Other trading activities			5,568	5,568
Investments			33,490	33,490	35,133
Total income			39,058	39,058	35,133
Expenditure on:
Raising funds			6,034	6,034	5,903
Charitable activities		9,10	50,080	50,080	57,885
Total expenditure			56,114	56,114	63,788
Net (losses)/gains	on investments		(111,852)	(111,852)	27,172
Net movement in	funds		(128,908)	(128,908)	(1,483)
Reconciliation of	funds:
Total funds brought	forward		928,279	928,279	929,762
Net movement in funds			(128,908)	(128,908)	(1,483)
Total funds carried forward			799,371	799,371	928,279

as at 31 March 2	020
				2020		2G19
		Note		E		E
Fixed assets
Investments		13		800,386		928,824
Current assets
Oebtora					33
Cash at bank and	in hand		3,083		3,661
			3,083		3,694
Creditors: amounts	failing due within one
yea(			(4,098)		(4,239)
Net current liabilities				(1,015)		(545)
Net assete				799,371		928,279
Charity funds
Restricted funds		'I6
Unrestricted funds		16		799,371		928,279
Total funds				799,371		928,279

							2020	2019
						Note
Cash flows from operating		activities
Net cash	used in operating	activities				18	(56,222)	(63,706)
Cash flows from investing		activities
Dividends	receivable						33,418	35,124
Interest receivable							72	9
Proceeds	from the sale of chattels						5,568
Proceeds	from sale of investments						101,422	160,657
Purchase	of investments						(79,493)	(140,959)
Net cash	provided by investing		activities				60,987	54,831
Change	in cash and cash	equivalents		in	the year		4,765	(8,875)
Cash and	cash equivalents	at the	beginning		ofthe year		8,280	17,155
Cash and cash equivalents		at the end		of	the year		13,045	8,280

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
		F		F
Sale	ofchattel	5,568	5,568

	Unrestricted	Total	Total
	funds	funds	funds
	2020	2020	2019
Dividends	33,418	33,418	35,124
Interest	72	72	9
Total 2020	33,490	33,490	35,133

Analysis ofgrants
		Education	Heritage &	Total	Total
		and training	conservation	funds	funds
		2020	2020	2020	2019
Outward Bound Trust		12,600		12,600	10,710
International Trust for Croation	Monuments		4,000	4,000	3,800
British Exploring Society		15,000		15,000	30,000
London Musical Theatre Orchestra		15,000		15,000	10,000
Total2020		42 600	4 000	46600	54 510

			Unrestricted	Total	Total
			funds	funds	funds
			2020	2020	2019
					F
Investment	management	fee	5,546	5,546	5,741
Insurance	ofchattels		33	33	102
Bank charges and interest			59	59	60
Transport	costs ofchattels		396	396
Total 2020			6,034	6,034	5,903
Total 2019			5,903	5,903

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
Education	and training	44,340	44,340	52,398
Heritage	and conservation	5,740	5,740	5,487
Total 2020		50,080	50,080	57,885

		Activities
		undertaken	Support	Total	Total
		directly	costs	funds	funds
		2020	2020	2020	2019
					F
Education	and training	42,600	1,740	44,340	52,398
Heritage	and conservation	4,000	1,740	5,740	5,487
Total 2020		46,600	3,480	50,080	57,885

				Education	Heritage	and	Total	Total
				and training	conservation		funds	funds
				2020		2020	2020	2019
						F		F
British Exploring Society				15,000			15,000	30,000
Outward	Bound Trust			12,600			12,600	10,710
International		Trust for Croation	Monuments		4,000		4,000	3,800
London	Musical Theatre Orchestra			15,000			15,000	10,000
Total 2020				42,600	4,000		46,600	54,510

		Education	Heritage	and	Total	Total
		and training	conservation		funds	funds
		2020		2020	2020	2019
Governance	costs	1,740		1,740	3,480	3,375

		Unrestricted	Total	Total
		funds	funds	funds
		2020	2020	2019
				F
Independent	examination	2,980	2,980	2,900
Adminstrative	costs	500	500	475
Total 2020		3,480	3,480	3,375

		Cash
	Listed	awaiting
	investments	investment	Totalf
Cost or valuation
At 1 April 2019	924,205	4,619	928,824
Additions	79,493		79,493
Disposals	(102,613)		(102,613)
Revaluations	(110,661)		(110,661)
Movement in cash		5,343	5,343
At 31 March 2020	790,424	9,962	800,386
Net book value
At 31 March 2020	790,424	9,962	800,386
At 31March 2019	924,205	4,619	928,824

		2020	2019
			F
Due within	one year
Prepayments	and accrued income		33

2020	2019
	F
4,098	4,239

								Balance at
				Balance at 1			Gains/	31 March
				April 2019	Income	Expenditure	(losses)	2020f
Unrestricted		funds
Reserves				928,279	39,058	(56,114)	(111,852)	799,371
Statement of		funds	- prior year
								Balance at
				Balance at			Gains/	31 March
				1 April 2018	Income	Expenditure	(losses)	2019
				E	E	E	E	F
Unrestricted		funds
General	Funds - all		funds	929,762	35,133	(63,788)	27,172	928,279

Analysis of net assets between funds -current pe	riod
	Unrestricted	Total
	funds	funds
	2020	2020f
Fixed asset investments	800,386	800,386
Current assets	3,083	3,083
Creditors due within one year	(4,098)	(4,098)
Total	799,371	799,371

Analysis of net assets between funds -prior period
	Unrestricted	Total
	funds	funds
	2019	2019
	F	F
Fixed asset investments	928,824	928,824
Current assets	3,694	3,694
Creditors due within one year	(4,239)	(4,239)
l	928,279	928,279

18.	Reconciliation of net	Reconciliation of net	movement	in funds to net cash flow	in funds to net cash flow	from operating	activities
							2020	2019
	Net expenditure for	the period (as		per Statement	of Financial	Activities)	(128,908)	(1,483)
	Adjustments for:
	Losses / (Gains) on	investments					111,852	(27,172)
	Dividends receivable						(33,418)	(35,124)
	Profit on sale ofchattel						(5,568)
	Decrease/(increase)	in debtors					33	(6)
	Increase/(decrease)	in	creditors				(141)	88
	Interest receivable						(72)	(9)
	Net cash used in operating activities						(56,222)	(63,706)
19.	Analysis ofcash and		cash equivalents
							2020	2019
								F
	Cash in hand						3,083	3,661
	Cash in investment	capital account					9,962	4,619
	Total cash and cash equivalents						13,045	8,280
20.	Analysis ofchanges		in net debt

			At 1 April		At 31 March
			2019	Cash flows	2020f
Cash	at bank and	in hand	3,661	(578)	3,083
Cash	equivalents		4,619	5,343	9,962
			8,280	4,765	13,045

					2020	2019
Financial	assets
Financial	assets measured	at fair value through		income and expenditure	790,424	924,205
Financial	assets measured	at amortised	cost			33
					790,424	924,238
					2020	2019
						F
Financial	liabilities
Financial	liabilities measured	at amortised	cost		4,098	4,239