2020-08-31-accounts

						Pages
Trustees' annual report (incorporating			the	director's	report)	1to4
Trustees' responsibilities statement
Independent auditor's	report to	the members				6to 9
Statement offinancial	activities	(including		income and
expenditure account)						10
Statement offinancial	position
Statement ofcash flows						12
Notes to the financial	statements					13to 22

	P	eriod from 1 July	2019to 3	1August 2	020
				Period from	1 Jul 19to	Year to
				31Aug 20		30Jun 19
				Unrestricted
			Note	funds 6	Total funds 6	Total funds f
Income and	endowments
Donations			5	1,550,059	1,550,059
Investment	income		6	922,530	922,530	617,033
Total income				2,472,589	2,472,589	617,033
Expenditure
Expenditure	on raising funds:
Costs	ofgenerating	income		231,567	231,567	195,173
Expenditure	on charitable	activities	7,8	829,025	829,025	660,159
Total expenditure				1,060,592	1,060,592	855,332
Net incomel(expenditure)		and net movement	in funds	1,411,997	1,411,997	(238,299)
Reconciliation offunds
Total funds	brought forward			13,209,953	13,209,953	13,448,252
Total funds	carried forward			14,621,950	14,621,950	13,209,953

Peri	od from 1 J	uly 2019to 31Aug	ust 2020
			31Aug 20	30Jun 19
Cash flows from operating	activities
Net income/(expenditure)			1,411,997	(238,299)
Adjustments for:
Government grant income			(43,899)
Dividends, interest and rents	from investments		(566,956)	(530,785)
Other interest receivable and similar income			(355,574)	(86,248)
Interest payable and similar	charges		9
Accrued income			(39,679)	(5,580)
Changes in:
Trade and other debtors			3,472	(1,371)
Trade and other creditors			(1,609)	(237,037)
Cash generated from operations			407,761	(1,099,320)
Interest paid			(9)
Interest received			368,791	87,799
Net cash from/(used in) operating activities			776,543	(1,011,521)
Cash flows from investing	activities
Dividends, interest and rents	from investments		566,956	530,785
Purchases ofother investments			(26,400)	(175,270)
Net cash from investing activities			540,556	355,515
Cash flows from financing	activities
Government grant income			43,899
Net cash from financing activities			43,899
Net increase/(decrease) in	cash and cash	equivalents	1,360,998	(656,006)
Cash and cash equivalents	at beginning	ofperiod	6,650,373	7,306,379
Cash and cash equivalents	at end ofperiod		8,011,371	6,650,373

wound up Donations	m	embers are req	uired to cont	ribute an amou	nt not exceedi	ng f1.
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2020	Funds	2019
				8	8	8	f
Donations
Donations	received			1,506,160	1,506,160
Grants
Government		grant income		43,899	43,899
				1,550,059	1,550,059
Investment		income
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds E	2020 f	Funds 8	2019
Income from		UK investment	properties	566,956	566,956	530,785	530,785
Bank interest receivable				355,574	355,574	86,248	86,248
				922,530	922,530	617,033	617,033
Expenditure		on charitable	activities by fund type
				Unrestricted	Total Funds	Unrestricted	Total Funds
				Funds	2020	Funds	2019
				8	6	E	f
Charitable	grants awarded			521,887	521,887	543,244	543,244
Support costs				307,138	307,138	116,915	116,915
				829,025	829,025	660,159	660,159

Expenditure	on charitable activ	ities by activity type
		Grant funding	Support	Total funds	Total fund
		of activities f	costs f	2020 6	2019 E
Charitable	grants awarded	521,887	299,690	821,577	653,156
Governance	costs		7,448	7,448	7,003
		521,887	307,136	829,025	660,159

Analysis of	sup	port costs
			Analysis of
			support costs	Total 2020	Total 2019
			E	6	6
Staff costs			184,989	184,989	108,242
Communications		and IT	5,010	5,010	3,368
General office			23,521	23,521	11,635
Governance	costs		7,450	7,450	7,002
Advertising	and	marketing	18,265	18,265	22,561
Losel (Gain)	on	foreign exchange	67,903	67,903	(35,913)
			307,136	307,138	116,915

Analysis ofgrants
	Period from
	1 Jul 19to	Year to
	31Aug 20	30Jun 19
	5	E
Grants to institutions
Culture	359,075	345,651
Education	127,000	134,000
Health	25,974	56,147
	512,049	535,798
Grants to individuals
Culture	9,838	7,446
Total grants	521,887	543,244

								Period from
								1 Jul 19to	Year to
								31Aug 20 8	30Jun 19 f
Fees	payable	for	the	audit	ofthe	financial	statements	7,450	7,000

Staff cos	ts
The total	staff costs	and	employee		benefits for the reporting			period are	analysed as	follows:
								Period from
									1 Jul 19to		Year to
									31Aug 20 f		30	Jun 19
Wages and salaries									233,535		165,349
Social security costs									17,360		13,092
Employer	contributions		to pension		plans				5,057			2,950
Other employee benefits									132			216
									256,084		181,607
The average head count			ofemployees			during	the period was 6(2019:6).The average				number of
full-time equivalent		employees		during		the period is analysed		as follows:
									31 Aug 20
									No.
Number	of administrative		staff						6

	Period from 1 July 2019to 31Au	gust 2020
14.	Investments
		Investment
		properties
		6
	Cost or valuation
	At 1 July 2019	6,620,467
	Additions	26,400
	At 31August 2020	6,646,867
	Impairment
	At 1July 2019and 31August 2020
	Carrying amount
	At 31August 2020	6,646,867
	At 30June 2019	6,620,467

15.	are not signific Debtors	antly different from the open market fai	r value ofthose properties as of	that date.
			31Aug 20 f	30Jun 19 6
	Trade debtors			3,586
	Prepayments	and accrued income	18,546	31,763
	Other debtors		726	612
			19,272	35,961
16.	Cash at bank	and in hand

Cash	at bank and in hand
		31 Aug 20	30Jun 19
		6	2
Bank	deposit accounts	7,796,259	5,945,783
Bank	current account	214,946	704,369
Cash	in hand	166	221
Total		8,011,371	6,650,373

Creditors: amoun	ts fa	glng d	ue within one year
				31Aug 20	30Jun 19
				5	5
)rade creditors				14,298	13,017
Accruals and deferred		income		31,648	71,327
Social security and other taxes				4,104	4,994
Other creditors				5,512	7,510
				55,560	96,848
Deferred Income
				2020	2019
				6
As at 1st July 2019				61,709	68,872
Amount released	to incoming		resources	(61,709)	(68,872)
Amount deferred	in the	year			61,709
As at 31stAugust	2020				61,709

plans was f Government	5,057(2019:E'2,950). grants	5,057(2019:E'2,950). grants
The amounts	recognised in the financial statements		for government	grants are as follows:
				31Aug 20 f	30	Jun 19 5
Recognised	in income from donations	and legacies:
Government	grants income			43,899

Unrestricted	funds
					At
		At			31August 2
		1 July 2019 6	Income	Expenditure f	020
General funds		13,175,267	2,472,589	(1,060,592)	14,587,264
Revaluation	reserve	34,686			34,686
		13,209,953	2,472,589	(1,060,592)	14,621,950
		At			At
		1 July 2018	Income f	Expenditure 6	30June 2019 6
General funds		13,413,566	617,033	(855,332)	13,175,267
Revaluation	reserve	34,686			34,686
		13,448,252	617,033	(855,332)	13,209,953

21.	Analysis ofnet as	se	ts between funds
					Unrestricted	Total Funds
					Funds	2020
					6	6
	Investments				6,646,867	6,646,867
	Current assets				8,030,642	8,030,642
	Creditors less than	1	year		(55,559)	(55,559)
	Net assets				14,621,950	14,621,950
					Unrestricted	Total Funds
					Funds	2019
					6	6
	Investments				6,620,467	6,620,467
	Current assets				6,686,334	6,686,334
	Creditors less than	1	year		(96,848)	(96,848)
	Net assets				13,209,953	13,209,953
22.	Analysis ofchanges		in net debt
						At
				At 1 Jul 2019	Cash flows	31 Aug 2020
				6	6	6
	Cash at bank and in		hand	6,650,373	1,360,998	8,011,371