2021-03-31-accounts - The Florence Turner Trust

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Reference and administrative	Reference and administrative
Trustees' report		2-4
Independent Auditors'	report	5-7
Statement offinancial	activities
Comparative statement	offinancial activities
Balance sheet		10
Notes to the accounts		11 - 16

Charity	Number	Number	502721
Trustees			Roger Bowder
			Katherine Egzabeth	Agson		Hall
			MichaelJones
Registered		office	Shakespeare Martineau		LLP
			Two Colton Square
			Leicester
			LEI IQH
Auditor			The Rowleys Partnership		Ltd
			Chartered Accountants
			Charnwood House
			Harcourt Way
			Meridian Business Park
			Leicester
			LE191WP
Bankers			National Westminster	Bank		Pk
			I Granhy Street
			Leicester
			LE1 9GT
Solicitors			Shakespeare Martineau		LLP
			Two Colton Square
			Leicester
			LEI IQH
Investment		managers	Cazenove Capital Management				Limited
			I London Wall Place
			London
			EC2Y 5AU
Property	advisors		APB (Leicester) LLP
			13 De Monffort Street
			Leicester
			LEI 7GE

					EXPENDABLE
			Note	UNRESTRICTED	ENDOWMENT	TOTAL	TOTAL
				FUNDS	FUNDS	2021	2020
Income and endowments	from			E	6	E	E
Investments
- Investment income				101,208		101,208	129,005
- Rental income				59,334		59,334	89,782
- Interest receivable				1,795		1,795	4,172
Total income and endowments				162,337		162,337	222,959
Expenditure on
Raising funds
- Investment management	fees			13,374	13,373	26,747	28,087
- Cost ofrental property				23,109		23,109	13,964
Charitable activities				107,830		107,830	176,716
Total expenditure				144,313	13,373	157,686	218,767
Net realised gains/(losses)	on	listed	investments		759,249	759,249	275,941
Net unrealised gains/(losses)		on listed investments			625,237	625,237	(897,916)
Net income/(expenditure)				18,024	1,371,113	1,389,137	(617,783)
Gains on revaluation offixed		assets	8
Net movement in funds				18029	1 371 113	1 309 137	~617 70
Reconciliation offunds
Total funds brought forward				232,672	6,499,705	6,732,377	7,350,160
Total funds carried forward				~250 6 6	~707 010	~0727 5	6.732.377

						EXPENDABLE	EXPENDABLE
				Note	UNRESTRICTED	ENDOWMENT			TOTAL
					FUNDS		FUNDS		2020
Income and endowments	from				E		E		E
Investments
- Investment income				4	129,005				129,005
—Rental income					89,782				89,782
- Interest receivable					4, 172				4,172
Total income and endowments					222,959				222,959
Expenditure on
Raising funds
- Investment management		fees			14,044		14,043		28,087
- Cost of rental property					13,964				13,964
Charitable activities					176,716				176,716
Total expenditure					204,724		14,043		218,767
Net realised gains/(losses)	on listed investments						275,941		275,941
Net unrealised gains/(losses)		on listed investments					(897,916)		(897,916)
Net income/(expenditure)					18,235		(636,018)		(617,783)
Gains on revaluation of fixed assets
Net movement In funds					38 235	~636 0 8		~~7
Reconciliation offunds
Total funds brought forward					214,437	7,135,723		7,350,160
Total funds carried forward					232 672	6	499 705	6	732 377
The statement of financial	activities includes		all	gains	and losses recognised		in the year,

							2021				2020
					Note	E
Fixed Assets
Tangible assets								989,792				989,792
Listed investments							6,495,425				5,203,771
Cash held by	investment		manager	for
re-investment												183,173
							7,733,623				6,376,736
Current Assets
Debtors					10	37,033			18,625
Cash at bank	and in	hand				367,570			358,570
						404,603			377,195
Liabilities
Creditors: amounts falling due within one year					11	~1772			~21	4
Net Current	Assets							387,891				355,641
Net Assets					12		8.121.~14				4	732 377
Funds
Expendable	endowment		funds				7,870,818				6,499,705
Unrestricted	funds							250,696				232,672
Total Funds					13		8	121.114

4	Investment Income	2021	2020
		E	E
	Income from listed investments	101,208	129 005
5	Charitable activities	2021	2020
		E	E
	Grants awarded in the year	85,030	154,033
	Support costs (note 6)	11,450	11,463
	Governance costs (note 7)	11,350	11,220
		ID7 030	176 716

	Grants paid in the year amounted	Grants paid in the year amounted	to E85,030.Grants varying	from E500 - E5,000were paid to 86	from E500 - E5,000were paid to 86
	institutions as well as grants	below E500 paid to 53 institutions		and grants above E5,000 paid to 1
	institution.
6	Support costs			2021	2020
				E	E
	Solicitors' charges (as clerk	to the	trustees)	11,201	11,246
	Insurance			249	217
				11 45D	11 463
7	Governance costs			2021	2020
				E	E
	Trustees' remuneration			7,200	7,200
	Auditors' remuneration			4,150	4,020
				11 350	11220
	Trustees' remuneration
	Mr R Bowder			2,400	2,400
	Mrs K Hall			2,400	2,400
	Mr M Jones			2,400	2,400
				7 2ml	7 200

In respect follows:	of certain fixed assets stated	at valuation, the comparable historica	l cost value
		2021	2020
		E	E
Historical	cost	555,247	599,247

Listed Investments				2021	2020
				E	E
Market vaWe at 1 April		2020		5,203,771	5,819,281
Additions at cost				2,344,561	798,707
Proceeds of disposals				(2,437,393)	(792,242)
Realised gains/(losses)		on investments		759,249	275,941
Unrealised gains/(losses)		on investments		625,237	(897,916)
Market value at 31 March 2021				6,495,425	~5 203 771
Investments comprise:
UK listed investments				2,408,944	2,319,584
Overseas listed investments				4,086,481	2,884,187
				6496 425	5203 771
Historical costs at 31 March 2021				4 INI 549	~4632 962
Individual investments	held at		31 March 2021 which are over 5%of portfolio by value		are:
- Findley Park Fund American			E514,796 (2020: E741,516)
- JPMorgan US Equity		Income E506,925 (2020: E467,110)
- Royal BPGlobal Premiums			E351,652 (2020: ENil)