Athelney Trust Plc (ATY) 2021年年度报告「LSE」.pdf

1、Contents Investment Objective and Policy 1 Directors of the Company 2 Strategic Report including:Chairmans Statement and Business Review 4 Fund Managers Review 7 Investment and Portfolio Analysis 10 Portfolio Breakdown by Sector and by Index 11 Section 172(1)Statement 12 Other Statutory Information

2、13 Corporate Governance Statement 15 Report of the Directors 19 Statement of Directors Responsibilities 21 Directors Remuneration Report 22 Independent Auditors Report 24 Income Statement 29 Statement of Changes in Equity 30 Statement of Financial Position 31 Statement of Cash Flows 32 Notes to the

3、Financial Statements 33 Officers and Financial Advisers 38 Annual Report for the year ended 31 December 2021 Company number 02933559 Athelney Trust Waterside Court,Falmouth Road Penryn,Cornwall TR10 8AW 1|Athelney Trust plc|Annual Report 2021 I Investment Objectivenvestment Objective The investment

4、objective of the Trust is to provide long-term growth in dividends and capital,with the risks inherent in small cap investment minimised through a spread of holdings in quality small cap companies that operate in various industries and sectors.The Fund Manager also considers that it is important to

5、maintain a progressive dividend record.I Investment Policynvestment Policy The assets of the Trust are allocated predominantly to companies with either a full listing on the London Stock Exchange or a trading facility on AIM or AQSE.The assets of the Trust have been allocated in two main ways:first,

6、to the shares of those companies which have grown steadily over the years in terms of profits and dividends but,despite this progress are undervalued by the market when compared to future earnings and dividends;second,those companies whose shares are undervalued by the market when compared with the