2021-12-31-accounts - Harold Merton Adams Trust

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DTL172/b/21 DTL/NB/ADO0009.1

Harold M Adams Charitable Trust

(Charity Ref: SC003412)

Accounts for the year to 5 April 2021

Contents Report by Trustees Report by Independent Examiner Accounts Notes to the Accounts Appendices of Investments

Thorntons Law LLP, Solicitors, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B] Telephone: 01382 229111 — Fax: 01382 202288

Harold M Adams Charitable Trust

Report by Trustees for the year to 5 April 2021

Names and Addresses of Trustees

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Date/Manner of Appointment Assumed 24.08.97 Assumed 09.03.00 Assumed 09.03.00

Appointment of trustees

Trustees are nominated by the then existing trustees and their appointment confirmed by formal Deed of Assumption.

Agents and Administrators for the Trust (and principal address of the Charity) Thorntons Law LLP, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B).

Investment Managers

Rathbone Investment Management Ltd (Rathbones’), George House, 50 George Square, Glasgow G2 1EH

Independent Examiner

HSCA, Walker Dunnett & Co, 29 Commercial Street, Dundee DD1 3DG

Charity Reference Nos

Scottish Charity No: SC003412

Constitution and Objects

Trust Disposition and Settlement and Codicil, dated 05.03.82 and 15.10.85 respectively, by of Seven Tay Terrace, Forty One Panmure Street, Broughty Ferry, Dundee.

Trust Income is to be applied for such charitable purposes as the Trustees shall determine,

Organisation

The day-to-day administration is carried out by Thorntons, as agents for the Trust. The Trustees meet as and when required to review all aspects of the Trust's affairs.

Activities and Achievements

Donations totalling £22,250 (2020 - £18,000) were made during the year to various charitable organisations as agreed by the trustees.

Harold M Adams Charitable Trust

Report by Trustees for the year to 5 April 2021 (cont)

Investment Policy

There are no restrictions in the Deed on the trustees’ power to invest. The policy is, long term, to adopt a medium risk investment strategy, including equity investments, to produce a balance of income and capital growth.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the trust, and are satisfied that systems are in place to mitigate exposure to those risks.

Covid-19 Pandemic: the trustees have resolved that the Trust should maintain as flexible an approach in making donations as is possible at this time, having regard to the grant-making policies outlined above.

Financial Position

The financial position of the Trust is as set out on pages 5 and 6.

The surplus for the year is mainly due to the movement in the sale and purchase of investments.

Reserves Policy

The trustees’ policy is to maintain reserves at around 2-3 months of normal running costs in order to meet commitments and to cover any unexpected expenditure. Reserves at 5'” April 2021 were £10,985 (2020 - £17,321) which is within target range.

Approved by the Trustees:

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Harold M Adams Charitable Trust

Chartered Accountants’ Report to the Client on the Unaudited Accounts of Harold M Adams Charitable Trust

In accordance with the engagement letter, I have examined the accounts of Harold Adams Charitable Trust on pages 5 to 7 from the accounting records and information and explanations supplied to me.

Respective responsibilities of trustees and examiner

Basis of independent examiner's statement

This report is made to you, in accordance with the terms of our engagement. My work has been undertaken to enable us to prepare the accounts on your behalf and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the client of the business, for our work or for this report.

I have carried out this engagement in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with the ethical guidance and other professional requirements laid down by the Institute relating to members undertaking the preparation of accounts as detailed at www.icas.org.uk/accountspreparationguidance. My examination is also carried out in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006.

I have not been instructed to carry out an audit of the accounts. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and I do not, therefore, express any opinion on the accounts.

Independent examiner's statement

In the course of my examination, no matter has come to my attention

which gives me reasonable cause to believe that in any material respect the requirements: e to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
e to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations

have not been met, or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Walker Dunnett & Co

29 Commercial Street

Dundee DD1 3DG

Ze set7EMhA_ 2021

Harold M Adams Charitable Trust

Receipts and Payments Account for the year ended 5 April 2021

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|||||||| |---|---|---|---|---|---|---| |Schedule/|2021|2020| |Appendix|£|£| |Receipts| |Investment|income|Sched 1|24,391|30,253| |Net|proceeds|from|investments|App 2|5,500|157| |Total|receipts|29,891|30,410| |Payments| |Charitable|activities|Sched 2|27,163|22,350| |Governance|Sched 3|5,620|4,908| |Costs|of|generating|funds|Sched 4|3,444|1,781| |Total|payments|36,227|29,039| |(Deficit)/Surplus|for year|(6,336)|1,371|

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Harold M Adams Charitable Trust

Statement of Balances as at 5 April 2021

		Schedule/	Schedule/	2021	2020
		Appendix		£E	£
Cash on depositand on hand
Opening balance				17,321	15,950
(Deficit)/Surplus for year				(6,336)	1,371
Closing balance				10,985	17,321
Reserves
Unrestricted	Cash Funds			10,985	17,321
Investments
As valued at 5 April 2021		App3	3	904,574	718,567
Estimated	Liabilities as at 5 April 2021
Thorntons Law LLP, administration fees				2,550	2,175
GA, Independent examination fee Trustee expenses		(est)		600 -	558 75
				3,150	2,808
Note: All funds are unrestricted
Approved bythe Trustees:
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Date

Harold M Adams Charitable Trust

Schedule 1	2021	2020
Income Received
Dividends and interest, per Rathbones	24,374	30,238
Interest on Thorntons deposits	17	15
	24,391	30,253
Schedule 2
Charitable Activities
Distributions made in year (Appendix 1)	22,250	18,000
Support costs (Schedule 3)	4,913	4,350
	27,163	22,350
Schedule 3		Charitable
Support Costs	Governance	Activities
Thorntons, balance of their fee for Trust administration, commissions,
posts etc. for the year to 05.04.20 (inc VAT)	1,087	1,088
Thorntons, to account of their fee for Trust administration, commissions,
posts etc. for the year to 05.04.21	3,825	3,825
Walker Dunnet & Co, Independent Examiner fee	558	-
Trustee annual expenses (two years)	150	-
	5,620	4,913

All trustees normally receive £25 each from the trust towards their annual expenses, as stipulated in the Trust Deed. These payments were omitted last year, therefore two such payments were made in the year ended 5" April 2021.

Schedule 4
Costs ofgenerating funds	2021	2020
Rathboneschargesresecurities	3,444	1,781

Harold M Adams Charitable Trust

Schedule 5
Statement ofRevenue balance as at 05.04.21	2021	2020
Income received in year	24,391	30,253
Distributions paid to beneficiaries	(22,250)	(18,000)
Support costs	(4,913)	(4,350)
(Deficit)/Surplus for year	(2,772)	7,903
Balance as at 05.04.20	49,038	41,135
Balanceasat05.04.21	46,266	49,038

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Harold M Adams Charitable Trust

Notes to the Accounts and General Notes regarding Financial Services and Markets Act 2000, Law Society Rules and related matters

1, Accounting Policies

Basis ofPreparation

The Accounts are prepared in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).

2. Contract Notes

In terms of their Law Society Rules Thorntons are required to forward copies of all contract notes relating to the sale or purchase of investments to clients. In the case of Trusts they fulfil this requirement by forwarding a copy to the first named independent trustee (i.e. a trustee who is not a partner/nominee company of Thorntons) based on the order of trustees set out the trustees’ Report, unless otherwise agreed.

3. Investment Managers

The trustees approve the continued appointment of the investment managers as detailed in the trustees’ Report, and on the same basis as contained in the Investment and Financial Services Terms of Business Agreement currently in force.

4, Independent Examiner

The trustees approve the continued appointment of the Independent Examiner as detailed in the trustees’ Report.

DTL172/b/21 DTL/NB/ADO0009.1

Harold M Adams Charitable Trust

(Charity Ref: $C003412) Accounts for the year to 5 April 2021

Contents Report by Trustees Report by Independent Examiner Accounts Notes to the Accounts Appendices of Investments

Thorntons Law LLP, Solicitors, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B] Telephone. 0138? 229111 Fax: 01382? 202288

Harold M Adams Charitable Trust

Report by Trustees for the year to 5 April 2021

Names and Addresses of Trustees

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es
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Date/Manner of Appointment Assumed 24.08.97 Assumed 09.03.00 Assumed 09.03.00

Appointment of trustees

Trustees are nominated by the then existing trustees and their appointment confirmed by formal Deed of Assumption.

Agents and Administrators for the Trust (and principal address of the Charity) Thorntons Law LLP, Whitehall House, 33 Yeaman Shore, Dundee, DD1 4B).

Investment Managers

Rathbone Investment Management Ltd (Rathbones’}, George House, 50 George Square, Glasgow G2 1EH

Independent Examiner HSCA, Walker Dunnett & Co, 29 Commercial Street, Dundee DD1 3DG

Charity Reference Nos

Scottish Charity No: SC003412

Constitution and Objects

Trust Disposition and Settlement and Codicil, dated 05.03.82 and 15.10.85 respectively, byNN[of][Seven][Tay] Terrace, Forty One Panmure Street, Broughty Ferry, Dundee.

Trust Income is to be applied for such charitable purposes as the Trustees shall determine.

Organisation

The day-to-day administration is carried out by Thorntons, as agents for the Trust. The Trustees meet as and when required to review all aspects of the Trust’s affairs.

Activities and Achievements

Donations totalling £22,250 (2020 - £18,000) were made during the year to various charitable organisations as agreed by the trustees.

Harold M Adams Charitable Trust

Report by Trustees for the year to 5 April 2021 (cont)

Investment Policy

Risk Management

Financial Position

The financial position of the Trust is as set out on pages 5 and 6.

The surplus for the year is mainly due to the movement in the sale and purchase of investments.

Reserves Policy

The trustees’ policy is to maintain reserves at around 2-3 months of normal running costs in order to meet commitments and to cover any unexpected expenditure. Reserves at 5" April 2021 were £10,985 (2020 - £17,321) which is within target range.

Approved by the Trustees:

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Harold M Adams Charitable Trust

Chartered Accountants’ Report to the Client on the Unaudited Accounts of Harold M Adams Charitable Trust

In accordance with the engagement letter, I have examined the accounts of Harold Adams Charitable Trust on pages 5 to 7 from the accounting records and information and explanations supplied to me.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44 (1) (c) of the Act to state whether particular matters have come to my attention. Basis ofindependent examiner's statement This report is made to you, in accordance with the terms of our engagement. My work has been undertaken to enable us to prepare the accounts on your behalf and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the client of the business, for our work or for this report.

Independent examiner's statement

In the course of my examination, no matter has come to my attention

which gives me reasonable cause to believe that in any material respect the requirements: e to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
e to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

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Walker Dunnett & Co 29 Commercial Street Dundee DD1 3DG

fo S@To<det 2021

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Harold M Adams Charitable Trust

Receipts and Payments Account for the year ended 5 April 2021

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|||||||| |---|---|---|---|---|---|---| |Schedule/|2021|2020| |Appendix|£|£| |Receipts| |Investment|income|Sched 1|24,391|30,253| |Net|proceeds|from|investments|App 2|5,500|157| |Total|receipts|29,891|30,410| |Payments| |Charitable|activities|Sched 2|27,163|22,350| |Governance|Sched 3|5,620|4,908| |Costs|of generating|funds|Sched 4|3,444|1,781| |Total|payments|36,227|29,039| |(Deficit)/Surplus|for year|(6,336)|1,371|

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Harold M Adams Charitable Trust

Statement of Balances as at 5 April 2021

		Schedule/	2021	2020
		Appendix	£	£
Cash ondepositandonhand
Opening balance			17,321	15,950
(Deficit)/Surplus for year			(6,336)	1,371
Closing balance			10,985	17,321
Reserves
Unrestricted	Cash Funds		10,985	17,321
Investments
Asvalued at	5 April 2021	App3	904,574	718,567
Estimated	Liabilities as at 5 April 2021
Thorntons Law LLP, administration fees			2,550	2,175
GA, Independent examination fee (est) Trustee expenses			600 :	558 75
			3,150	2,808
Note:Allfundsareunrestricted

Approved by the Trustees:

Date

Harold M Adams Charitable Trust

Schedule 1	2021	2020
Income Received
Dividends and interest, per Rathbones	24,374	30,238
Interest on Thorntons deposits	17	1S
	24,391	30,253
Schedule 2
Charitable Activities
Distributions made in year (Appendix 1)	22,250	18,000
Support costs (Schedule 3)	4,913	4,350
	27,163	22,350
Schedule 3		Charitable
Support Costs	Governance	Activities
Thorntons, balance of their fee for Trust administration, commissions,
posts etc. for the year to 05.04.20 (inc VAT)	1,087	1,088
Thorntons, to account of their fee for Trust administration, commissions,
posts etc. for the year to 05.04.21	3,825	3,825
Walker Dunnet& Co, Independent Examiner fee	558	-
Trustee annual expenses (two years)	150	-
	5,620	4,913

Schedule 4
Costs ofgenerating funds	2021	2020
Rathboneschargesresecurities	3,444	1,781

Harold M Adams Charitable Trust

Schedule 5
Statement of Revenue balance as at 05.04.21	2021	2020
Income received in year	24,391	30,253
Distributions paid to beneficiaries	(22,250)	(18,000)
Support costs	(4,913)	(4,350)
(Deficit)/Surplus for year	(2,772)	7,903
Balance as at 05.04.20	49,038	41,135
Balanceasat05.04.21	46,266	49,038

Harold M Adams Charitable Trust

Notes to the Accounts and Genera! Notes regarding Financial Services and Markets Act 2000, Law Society Rules and related matters

1. Accounting Policies

Basis ofPreparation

The Accounts are prepared in accordance with the Charities Accounts (Scotland) Regulations 2006 (as amended).

2. Contract Notes

3. Investment Managers

4, Independent Examiner

The trustees approve the continued appointment of the Independent Examiner as detailed in the trustees’ Report.

Appendix 1 Harold M Adams Char Trust

Charitable Distributions 2020-21

Date	Name	Amount
14/05/2020	To Angus Young Engineers	£500
04/06/2020	ToMcMillan Cancer Support	£1,000
24/06/2020	To Shelter Scotland	£500
24/06/2020	To Funeral Link	£500
24/06/2020	To Insight Counselling	£500
24/06/2020	To Samaritans Dundee	£500
24/06/2020	To Broughty FerryYMCA	£500
24/06/2020	To Bobath Scotland	£500
24/06/2020	To Scout Scotland	£500
24/06/2020	To Eighteen and Under	£500
24/06/2020	ToAsthma Relief	£500
24/06/2020	~—To Children 1st Scotland	£500
24/06/2020	To Christian Aid Scotland	£1,000
24/06/2020	To Spectrum	£500
24/06/2020	To Pet Fostering Service Scotland	£500
24/06/2020	To Dundee Carers Centre	£500
24/06/2020	To HomeStart Dundee	£1,000
21/08/2020	To Finding your Feet	£1,000
23/09/2020	ToCLIC Sargent (Scotland)	£500
03/12/2020	To NARA ( The Breathing Charity)	£500
03/12/2020	To Mary's Meals	£1,000
03/12/2020	To Deaf Links	£500
03/12/2020	To British Red Cross	£500
03/12/2020	To CLIC Sargent (Scotland)	£500
03/12/2020	To British Liver Trust	£500
03/12/2020	To Marie Curie Cancer Care (Scotland)	£1,000
03/12/2020	To Dundee Multicultural Centre	£250
03/12/2020	To Guide Dogs for the Blind Association	£1,000
03/12/2020	To RockSolid Dundee (SCIO)	£1,000
03/12/2020	To Sepsis Research (FEAT) SCIO	£500
03/12/2020	To Samaritans Dundee	£500
03/12/2020	To Scottish Spina Bifida Association	£500
03/12/2020	To Helm Training Ltd	£500
03/12/2020	To MS Society Scotland	£500
03/12/2020	To McMillan Cancer Support	£1,000
07/12/2020	ToShapercaperLimited	£500

Appendix 2

| | |

Harold M Adams Char Trust

Investment Transactions - Year ended 05.04.21

Date	Details ofTransactions	Purchases	Sales
08/05/2020	PURCHASE 5 @ USD1364.05509434 ALPHABET INC USDO0.001 Cls A Common Stock	5,666.61
08/05/2020	PURCHASE 60 @ USD179.93012003 VISA INC USD0.0001 Common Stock	8,946.25
08/05/2020 11/05/2020	PURCHASE 170 @ SWF83.20 NOVARTISAG CHFO.5O Shares (Regd) PURCHASE5100@£1.388 GREENCOATUKWINDPLC1p OrdinaryShares	12,009.29 7,211.20
11/05/2020 11/05/2020	PURCHASE 100 @ £40.54108313 UNILEVER PLC 3 1/9p Ordinary Shares SALE1100@£3.82058469 BRITISHLANDCOPLC25pOrdinary Shares	4,132.07	4,122.01
11/05/2020 11/05/2020	PURCHASE 100@ £48.86CRODAINTERNATIONAL PLC10.609756p Ordinary Shares PURCHASE 300 @ £12.994611 COMPASS GROUP PLC 11.05p Ordinary Shares	4,978.93 3,973.53
11/05/2020	SALE 3400 @ £3.37 CITY OF LONDON INVTRUST PLC 25p Ordinary Shares		11,258.43
11/05/2020	PURCHASE 450 @ £11.12334078 PRUDENTIAL PLC Sp Ordinary Shares	5,100.58
11/05/2020	PURCHASE 100 @ £65.56948384 RECKITT BENCKISER GROUP PLC 10p Ordinary Shares	6,679.96
11/05/2020	SALE 1000@ £1.278444 M&G PLC Sp Ordinary Shares		1,248.44
12/05/2020	SALE 10500.0000 @ £1.151 ROYAL LONDON UNITTRUST MGRS Ethical Bond Z Inc		11,879.65
13/05/2020	SALE 34100.0000 @ £0.8854 SCHRODER INVESTMENTMGMT Strategic Credit L Inc		29,856.18
13/10/2020	PURCHASE 200 @ EUR71.31882353 HEINEKEN HOLDING NV EUR1.60 Shares	13,095.81
13/10/2020	PURCHASE 950 @ £15.20357293 SMITH & NEPHEW PLC USDO.20 Ordinary Shares	14,443.39
13/10/2020	PURCHASE 400 @ £28.90592 ISHARES PLC Physical Gold ETC (GBP)	11,562.37
13/10/2020	PURCHASE 6000 @ £2.40333 RUFFER INVESTMENTCO 0.01p Red Ptg PrefShares	14,419.98
13/10/2020	PURCHASE 200 @ £83.7924 ASTRAZENECA PLC USDO.25 Ordinary Shares	16,758.48
13/10/2020	PURCHASE 500 @ £23.906 HALMA PLC 10p Ordinary Shares	11,953.00
13/10/2020	SALE 1800@ £8.41 ALLIANCE TRUST PLC 2 1/2p Ordinary Shares		15,138.00
13/10/2020	SALE 5300@ £10.26 BANKERS INVESTMENT TRUST PLC 25p Ordinary Shares		54,378.00
13/10/2020	SALE 10000 @ £1.96 MERCANTILE INVESTMENT TST PLC 2 1/2p OrdinaryShares		19,600.00
13/10/2020	SALE 4000 @ £4.47 SCOTTISH AMERICAN INVCO PLC 25p Ordinary Shares		17,880.00
14/10/2020	PURCHASE 5 @ USD1493.99ALPHABET INC USD0.001 Cls A Common Stock	5,786.40
14/10/2020	PURCHASE 250 @ USDS0.67 COCA-COLA CO USDO.25 Common Stock	9,832.24
14/10/2020	PURCHASE 12000.000 @ £1.13839998 M&G SECURITIES LTD Global Macro BondJ Inc	13,660.80
15/10/2020	SALE 9354.4411 @ £1.07200025 THREADNEEDLE INVESTMENTS Sterling Corp BondL Inc		10,027.96
31/12/2020	EQUAL'N INC @ £.002357 M&G SECURITIES LTD Global Macro Bond J Inc		28.28
18/03/2021	PURCHASE 100 @ USD236.38 MICROSOFTCORP USD 0.00000625 Common Stock	17,144.41
18/03/2021	PURCHASE 170 @ USDS1.20 COCA-COLA CO USDO0.25 Common Stock	6,312.92
18/03/2021	PURCHASE 110 @ £39.8754118 UNILEVER PLC 3 1/9p Ordinary Shares	4,386.30
18/03/2021	SALE 2000 @ £9.32 ALLIANCE TRUST PLC 2 1/2p Ordinary Shares		18,640.00
18/03/2021	SALE 4000 @ £4.6312 SCOTTISH AMERICAN INV CO PLC 25p OrdinaryShares		18,524.80
18/03/2021	PURCHASE 300 @ £30.09165837 PERSIMMON PLC 10p Ordinary Shares	9,027.50
		207,082.02	212,581.75
			-207,082.02
	Nettransactions		5,499.73

Harold Adams Charitable Trust

Valuation as at 5 April 2021

Valuation as	at	5 April 2021
								Sterling
Holdin	8	Sicuuisetetption P	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
UK Index Linked Government Bonds				36,443	4.0	33,153	402	1.1
9,750		TREASURY	£372.94604	36,443	4.0	33,153	402	1.1
		4 1/8% Index Linked Stock 2030	Plus 73 days
UK Investment Grade Bonds				72,273	8.0	68,458	2,114	2.9
23,000		LIONTRUST INVESTMENTS LTD	£1.020759	23,477	2.6	21,486	1,104	4.7
		Monthly Inc Bond P Gross Inc
20,100		ROYAL LONDON UNITTRUST MGRS_£1.199		24,100	2.7	23,149	577	2.4
		Ethical Bond Z Inc
23,186		THREADNEEDLE INVESTMENTS	£1.0651	24,695	2.7	23,822	433	1.8
		Sterling Corp BondL Inc
Telecommunications Service Provider				8,020	0.9	13,960	484	6.0
6,000		VODAFONE GROUP PLC	£1.3366	8,020	0.9	13,960	484	6.0
		USD0.2095238 Ordinary Shares
Medical Equipment&Services				12,915	1.4	14,443	263	2.0
950		SMITH & NEPHEW PLC	£13.595	12,915	1.4	14,443	263	2.0
		USDO.20 Ordinary Shares
Pharmaceuticals &		Biotechnology		29,675	3.3	20,815	1,374	4.6
200		ASTRAZENECA PLC	£71.72	14,344	1.6	16,758	414	2.9
		USD0O.25OrdinaryShares

Rathbone Investment Management - Taxation Pack

Page 19

Harold Adams Charitable Trust

Valuation as at 5 April 2021

								Sterling
Holdin	8	SedintieyDeactiption P	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
Pharmaceuticals & Biotechnology				29,675	3.3	20,815	1,374	4.6
1,200		GLAXOSMITHKLINE PLC	£12.776	15,331	1.7	4,057	960	6.3
		25p Ordinary Shares
Banks				20,831	2.3	32,476	301	1.4
2,800		HSBC HOLDINGS PLC	£4.232	11,850	1.3	20,810	301	2.5
		USD0.50 Ordinary Shares
21,000		LLOYDS BANKING GROUP PLC	£0.4277	8,982	1.0	11,666	0	0.0
		10p Ordinary Shares
UK Investment Companies				141,418	15.6	54,640	4,198	3.0
11,550		CITY OF LONDON INVTRUST PLC	£3.785	43,717	4.8	34,887	2,206	5.0
		25p Ordinary Shares
21,700		MERCANTILE INVESTMENT TST PLC	£2.56	55,552	6.1	13,539	1,454	2.6
		2 1/2p Ordinary Shares
6,990		STANDARD LIFE UK SMLR CO	£6.03	42,150	4.6	6,215	538	1.3
		25p Ordinary Shares
Life Insurance				22,497	2.5	19,121	363	1.6
1,450		PRUDENTIAL PLC	£15.515	22,497	2.5	19,121	363	1.6
		5pOrdinaryShares

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Harold Adams Charitable Trust Valuation as at 5 April 2021

Sterling

	Holdin	Holdin	8	guaietsDeBkesistten ty P	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
Consumer		Services				10,017	1.1	10,075	0	0.0
		670		COMPASS GROUP PLC	£14.95	10,017	1.1	10,075	0	0.0
				11.05p Ordinary Shares
Household Goods & Home Construction						9,072	1.0	9,028	705	7.8
		300		PERSIMMON PLC	£30.24	9,072	1.0	9,028	705	7.8
				10p Ordinary Shares
Media						6,790	0.7	6,150	174	2.6
		370		RELX PLC	£18.35	6,790	0.7	6,150	174	2.6
				14.44p Ordinary Shares
Beverages						15,336	1.7	1,062	359	2.3
		510		DIAGEO PLC	£30.07	15,336	1.7	1,062	359	2.3
				28 101/108p Ordinary Shares
Personal	Care,		Drug & Grocery Store			36,167	4.0	38,044	1,202	3.3
		210		RECKITT BENCKISER GROUP PLC	£64.97	13,644	1.5	13,746	367	2.7
				10p Ordinary Shares
		560		UNILEVER PLC	£40.22	22,523	2.5	24,298	835	3.7
				31/9pOrdinaryShares

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Harold Adams Charitable Trust Valuation as at 5 April 2021

									Sterling
Holdin		6	SecutityDiucription P	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
Electronic	& Electrical Equipment				12,190	1.3	11,953	83	0.7
	500		HALMA PLC	£24.38	12,190	1.3	11,953	83	0.7
			10pOrdinaryShares
IndustrialSupportServices					14,512	1.6	3,205	209	1.4
	570		EXPERIAN PLC	£25.46	14,612	1.6	3,205	209	1.4
			USDO.10 Ordinary Shares
Industrial Metals & Mining					9,316	1.0	7,498	694	7.5
	170		RIO TINTO PLC	£54.80	9,316	1.0	7,498	694	7.4
			10p Ordinary Shares
Chemicals					13,162	1.4	10,982	229	1.7
	100		CRODA INTERNATIONAL PLC	£64.18	6,418	0.7	4,979	91	1.4
			10.609756p Ordinary Shares
	300		VICTREX PLC	£22.48	6,744	0.7	6,003	138	2.0
			1p Ordinary Shares
Oil, Gas &	Coal				12,352	1.4	8,876	460	3.7
	925		ROYAL DUTCH SHELL PLC	£13.354	12,352	1.4	8,876	460	3.7
			EURO.07BShares(UKListed)

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Harold Adams Charitable Trust Valuation as at 5 April 2021

									Sterling
Holdin		8	RartyilyDeleriptirn P	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
Electricity					14,570	1.6	11,113	804	5.5
1,000			SSE PLC	£14.57	14,570	1.6	11,113	804	5.5
			50p Ordinary Shares
North American Investments					91,507	10.1	73,263	1,433	1.6
	10		ALPHABET INC	USD2218.96	15,971	1.8	11,453	0	0.0
			USDO0.001 Cls A Common Stock
	420		COCA-COLA CO	USD52.81	15,964	1.8	16,145	508	3.2
			USDO.25 Common Stock
	220		JOHNSON & JOHNSON	USD163.43	25,879	2.8	13,842	671	2.6
			USD1 Common Stock
	100		MICROSOFTCORP	USD249,.07	17,927	2.0	17,144	161	0.9
			USD 0.00000625 Common Stock
	100		VISA INC	USD219.04	15,766	7	14,678	92	0.6
			USD0.0001 Common Stock
European	Investments				36,505	4.0	35,315	695	1.9
	200		HEINEKEN HOLDING NV	EUR77.20	13,112	1.4	13,096	119	0.9
			EUR1.60 Shares
	170		NOVARTIS AG	SWF81.15	10,598	1.2	12,009	392	3.7
			CHF0.50 Shares (Regd)
	60		SCHINDLER HOLDINGSAG	SWF277.60	12,795	1.4	10,210	184	1.4
			CHFO.10PTGCertShs(PSub)

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Harold Adams Charitable Trust Valuation as at 5 April 2021

								Sterling
: Holiing		3 a SpeeDecnESon	Middle Price	Market Value	%of Portfolio	Book Cost	Estimated Income	Estimated Yield%
Global Investments				232,747	25.6	105,706	7,072	3.0
4,800		ALLIANCE TRUST PLC	£9.35	44,880	4.9	6,182	695	1.5
		2 1/2p Ordinary Shares
12,500		JP MORGAN GBL GROWTH &	£4.14	51,750	5.7	39,488	1,645	3.2
		5p Ordinary Shares
6,700		MURRAY INTERNATIONAL TRUST	£11.96	80,132	8.8	30,082	3,652	4.6
		25p Ordinary Shares
650		POLAR CAPITAL TECHNOLOGY	£22.30	14,495	1.6	8,710	0	0.0
		25p Ordinary Shares
9,000		SCOTTISH AMERICAN INVCO PLC	£4.61	41,490	4.6	21,243	1,080	2.6
		25p Ordinary Shares
Infrastructure	Funds			6,599	0.7	7,211	366	5.5
5,100		GREENCOAT UKWIND PLC	£1.294	6,599	0.7	7,211	366	5.5
		1p Ordinary Shares
Commodities	(Non-cyclical)			9,758	1.1	11,562	0	0.0
400		ISHARES PLC	£24.395	9,758	1.1	11,562	0	0.0
		Physical Gold ETC (GBP)
Actively Managed Strategies				29,902	3.3	28,053	350	1.2
12,000		M&G SECURITIES LTD	£1.0568	12,682	1.4	13,633	236	1.9
		GlobalMacroBondJInc

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Harold Adams Charitable Trust

Valuation as at 5 April 2021

Sterling

; Holding	! Are SranryDette.	Middle Price	Market Value	% of Portfolio	Book Cost	Estimated Income	Estimated Yield%
ActivelyManaged	Strategies		29,902	3.3	28,053	350	1.2
6,000	RUFFER INVESTMENTCO	£2.87	17,220	1.9	14,420	114	0.7
	0.01p Red Ptg PrefShares
Cash			4,015	0.4	4,015	0	0.0
4,015	£ Capital		4,015	0.4	4,015	0	0.0
Total:			908,589	100.0	640,175	24,334	2.7

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