2021-04-05-accounts

THE INGRAM TRUST (Registered Charity Number: 1040194)

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

CONTENTS

	Page
Trustees’ Annual Report	1 - 7
Report of the Independent Examiner	8
Statement of Financial Activities	9
Balance Sheet	10
Notes to the Financial Statements	11 - 17

Page 1

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021

The trustees submit their report and independently examined financial statements of The Ingram Trust (“the trust” or “the charity”) for the year ended 5 April 2021. These have been prepared in accordance with the accounting policies set out in Note 1 and comply with the charity’s trust deed and applicable law.

1. REFERENCE AND ADMINISTRATIVE DETAILS

The Ingram Trust, registered charity number 1040194, is based and administered in the United Kingdom with a charity contact address of Eighth Floor, 6 New Street Square, London EC4A 3AQ. The email address of the charity is [e-mail].

The names of the trustees who served during the year and continue to serve at the date of the report’s approval are:

Christopher John Ingram (the Founder and Chairman) Janet Elizabeth Ingram Clare Mary Maurice (re-appointed 27 September 2018) Sally Jane Ingram (re-appointed 23 January 2020) Jonathan Devereux Ingram (re-appointed 23 January 2020)

Accountants:

Rawlinson & Hunter LLP, Chartered Accountants Eighth Floor, 6 New Street Square, New Fetter Lane, London EC4A 3AQ

Investment Manager and Advisors:

Schroders Investment Management (Luxembourg) SA 5 rue Hohenhof, L-1736 Senningerberg, Luxembourg

Langham Hall UK LLP Aldwych House, 81 Aldywch, London WC2 4HN

Northern Trust International Fund Administration Services (Ireland) Limited George’s Court, 54-62 Townsend Street, Dublin 2, Ireland

Authorised Corporate Director of The HavenRock Fund:

Carvetian Capital Management Limited Stuart House, St John’s Street, Peterborough PE1 5DD

Investment Managers of the HavenRock Fund:

Goldman Sachs International Bordier & Cie (UK) PLC SandAire Limited

Independent Examiner:

Christopher Hawley FCA Rawlinson & Hunter LLP, Eighth Floor, 6 New Street Square, New Fetter Lane, London EC4A 3AQ

Solicitors:

Maurice Turnor Gardner LLP 15[th] Floor, Milton House, Milton Street, London EC2Y 9BH

Page 2

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

2. STRUCTURE, GOVERNANCE AND MANAGEMENT

The trust was established by a Declaration of Trust dated 3 August 1994 and is an unincorporated charitable trust governed by the proper law of England and Wales. The Founder is Christopher John Ingram.

The entire resources of the charity have been unrestricted throughout the year and the trustees have complete discretion for their use.

The management of the charity is conducted solely by the trustees.

The trustees’ investment powers are unrestricted.

The power of appointing new or additional trustees rests in Christopher John Ingram during his lifetime. Acting trustees shall retire and seek re-appointment every 6 years except for the Founder and his wife (Christopher and Janet Ingram).

Induction and Training

Should new trustees be appointed a formal induction process would be carried out. Other trustee training is undertaken as and when appropriate. All trustees are kept informed at meetings of their duties and obligations under the law in addition to their proper conduct.

Trustees’ Responsibilities Statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP (FRS102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Disclosure of information to the Independent Examiner

In so far as the trustees are aware:

• there is no relevant examination information of which the charity’s independent examiner is unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant examination information and to establish that the independent examiner is aware of that information.

Internal Controls

The trustees are responsible for maintaining an adequate system of internal controls and keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Report) Regulations 2008 and SORP (FRS 102).

The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps towards the prevention and detection of fraud.

The system of internal controls is designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

3. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The charity’s objectives and principal activities are to extend donations to any qualified charities of any purpose, body organisation or object in any part of the world which under the law of England and Wales shall be recognised as exclusively charitable.

Grant Making Policy

The trust deed states that the trustees shall at their discretion pay or apply the income of the fund to or for the benefit of any one or more qualifying charity. The trustees may have regard to and shall, if possible, follow the wishes of the Founder as expressed to them from time to time in writing but so that no legal obligation is put upon the trustees.

The trustees’ agreed grant making policies are as follows:

• To support specific projects which can include identifiable costs for special services or projects provided by the charity or equipment that is required.

• Generally, beneficiaries will be major national and international charities together with some local ones in the county of Surrey.

• The majority of grants will be committed for periods of 3 - 4 years at a time. This allows the trust to better assess grant applications, maximise the impact it can make on the charities it supports and to more effectively monitor project progress.

• Charities specialising in overseas aid are not considered except those dedicated to encouraging self-help and providing more permanent solutions to problems. No animal charities are considered except those concerned with wildlife conservation.

• Applications by individuals will not be considered as only registered charities can qualify for a grant.

Page 4

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT (continued)

Statement of Public Benefit

The trustees are aware of the Charity Commission guidance on Public Benefit and confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to it. They consider the information which follows in this annual report, about the trust’s aims, activities and achievements in the areas of interest that the trust supports, demonstrates the benefit to its beneficiaries and through them to the public that arise from those activities.

4. ACHIEVEMENTS AND PERFORMANCE

The trustees consider grant applications from new charities that they believe demonstrate concrete evidence of delivering public benefit and they review project progress and impact reports from existing grant recipients.

Charitable Activities

Charitable activities include grant commitments in the year of £741,382 (2020 - £686,290) and governance costs of £23,148 (2020 - £24,591). All grants made are in line with the trustees’ grant making policy as prescribed under Section 3 of this report “Objects and Activities for the Public Benefit”. A full list of the grants made during the year ended 5 April 2021 is shown in Note 3 to the financial statements. The accounting treatment in respect of grants is in line with that set out in Section 7 of the SORP (FRS 102).

During the year the charity awarded the following grants:

Age UK – Dementia Project

A single unrestricted donation of £25,000 was made by the trustees towards vital support of their core work during the COVID-19 pandemic.

British Exploring Society

A donation of £10,000 was made by the trustees towards their Wildestan programme which was developed in response to COVID-19, to ensure that young people continue to have access to fun, weekly online wilderness expedition sessions.

Countryside Learning

The trustees agreed a new commitment of £90,000 over 3 years (£30,000 p.a.) in continued support of the Countrywide Classroom project

Marie Curie Cancer Care

The trustees committed £60,000 over 3 years (£20,000 p.a.) in support of their Care & Homelessness Coordinator roles in Liverpool and Cardiff.

Macmillan Cancer Support

The trustees committed £80,000 over 4 years (£20,000 p.a.) in continued support of the core work in Surrey providing support to cancer sufferers.

Queen Elizabeth Foundation

The trustees committed £75,000 over 3 years (£25,000 p.a.) in continued support of the Neuro Rehabilitation Service unit in Leatherhead, where further funding was required to provide the centre with essential equipment and meet staff costs for specially developed programmes.

Scope

The trustees agreed to commit £60,000 over 3 years (£20,000 p.a.) in support of Scope’s disability equality work in England and Wales, specifically towards the Navigate parent mentoring service.

Page 5

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Shelter

The trustees agreed to commit £105,000 over 3 years (£35,000 p.a.) in continued support of the Digital Advice Project, specifically towards an emergency telephone Helpline.

South East Cancer Help Centre

The trustees committed £30,000 over 3 years (£10,000 p.a.) in continued support of the core services offering support to those affected by cancer.

Woodland Trust

A single donation of £20,000 was made by the trustees towards the Tree Pack Initiative; an opportunity for schools and community groups to plant a variety different types of saplings throughout Surrey, and help create a landscape better to respond to the climate crisis.

WWF (UK)

The trustees agreed a commitment of £180,000 over 3 years (£60,000 p.a.) in support of the Amazonia Viva campaign; with a goal of supporting Indigenous peoples, and the lands they protect, from the most profound threats the Amazon has experienced in decades.

3 Pillars Project

A single donation of £10,000 was made by the trustees to fund services aiming to improve the lives of young people at risk of committing crime, by providing them with effective support and mentoring to secure positive futures across London and the South East.

5. FINANCIAL REVIEW

Incoming Resources & Resources Expended

Incoming resources totalled £153,436 representing a decrease from £227,835 in 2020. This income was entirely received from the trust’s investment portfolio and interest from cash deposits.

Investment income is shown gross of investment management costs and tax credits. Charity SORP (FRS 102) prescribes that investment management costs, when incurred, are separately accounted for under resources expended and more specifically under costs of raising funds.

The trustees have noted that the Income Fund within the Statement of Financial Activities had fallen into a deficit position. This was due to grants during the year exceeding the amount of income received. The trustees have agreed that any deficit position will be corrected through transfers from the Capital Fund to the Income Fund.

Page 6

THE INGRAM TRUST

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

FINANCIAL REVIEW (continued)

Incoming Resources & Resources Expended (continued)

Charitable expenditure during the year was £764,530 (2020: £710,881) against total income of £153,436 resulting a deficit of £611,094 (2020: deficit of £483,046)

Investments

The assets of the charity consist principally of investments and cash and these are collectively recorded on the Balance Sheet and supporting notes at their market value on that date. Any increase or decrease over cost on the restatement of these values is recorded in the Statement of Financial Activities.

The majority of the assets of the trust are held within the HavenRock Fund (“the Fund”) an open ended investment company. The investment managers of the Fund, Goldman Sachs International, Bordier & Cie (UK) Limited and SandAire Limited are overseen by Carvetian Capital Management, the Authorised Corporate Director of the Fund. Carvetian Capital Management monitors the investments to ensure they are in line with the restrictions of the Fund.

Carvetian Capital Management meets regularly with the investment managers of HavenRock and provides regular reports to the trustees.

The investment market value at 5 April 2021 was £11,374,287 - an appreciation of £2,322,191 from the prior year (2020: market value £9,322,426, depreciation of £774,809).

Fundraising

The trustees have referred to the Code of Fundraising Practice (“the Code”) which was developed during the year by the fundraising community through the work of the Institute of Fundraising and Public Fundraising Association, and the Guidance on Charities and Fundraising issued by the Charity Commission (“CC20”) and the Charities (Protection and Social Investment) Act 2016 (“the Act”). They confirm that the Code, CC20 and the Act have no impact on the charity as it does not engage in any public fundraising activities.

Reserves Policy

The trust’s 21 year accumulation policy expired on 3 August 2015. Until this date it had been the trustee’s policy to hold income generated from the investments in the Income Fund and any undistributed income at the year-end was earmarked for direct charitable expenditure in future years.

The investment objectives of the charity remain unchanged and are to preserve capital in real terms and provide sufficient income to meet the trustees’ requirements and any undistributed income will continue to be carried forward in the Income Fund to be distributed at a future date.

There were no free reserves at the year-end.

The Covid-19 pandemic has created significant operational pressures on the charity. Having considered the contingency plans in place, the support to businesses announced by the UK Government and having reviewed updated cashflow forecasts, the trustees consider the adoption of the going concern basis in preparing these financial statements continues to be appropriate.

Page 7 THE INGRAM TRUST TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021 {continued) FINANCIAL REVIEW {continued) Rlsk Management A risk assessment has been undertaken which comprises: an annual review of the risks the charity may face. the establishment of systems and procedures to mitigate those risks,. and the implementation of procedur8s designed to minimise any potential impact on the charity should those risks materialisa. This continuing process will identrfy risk areas to which the trust is vulnerable and hrghlight any necessary safeguards thal will need to be put in place. No major risks were identified al the date of these financial stalements. The Irustees have signed fil and proper declarallons in line with HMRC guidance. PLANS FOR THE FUTURE PERIODS The Irustees do not currenlly propose to deviate from the current objectives and activilies of the trust as detailed in Section 3 of this report. Approved by the Irustees and signed on their behalf by-. Chris her Ingram (Chairman) Date: ?g. ??.

Page 8 THE INGRAM TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES I repcmt to the chaiity trust86s on my examination of the a¢xounts of The IrKJram Trust for th8 y8ar 8nd8d 5 April 2021 ￿iCti compris8 the Statement of Financial Activi￿, BalaThx Sheet ￿ the related rK)tes. Rasponslbllftl•s and basi8 of r•port As the thariivs trustses you are reSp￿SItA8 f(x lh8 pr8parion of th8 aco)unts In accordance with the requir8m6nts of the Charities Act 2011 (Ihe Act.). I report In respect of my examlnatlon of the tharws acry)unts carried out under 8ection 145 of the Act and in carying out my 8xamination I have frAlowgd al Ihe apphcable directio￿ given by the Charty Commission under sectlon 145(5)(b) of Ihe * Indop•nd•nt Ex•mlnorfs statement I have completed my examlnatlon. I confim) that rK) Materf￿ matters hav8 rx)me to my attentlon Sn connectlon the examlnatbn givlng me cause to belleve that in any material respect: accountlro re¢¢)rd8 ¥r6 not kept in resFCt of th8 charity as wuired by 88Ctlon 130 of the Act., or 2. the accounts do not acc(Kd wlth those re(ths: c 3. thè accounts do not comply with the applicable requirèments ￿￿cerning the fom and o)ntent of accounts set <)ut In the Charilies (Accounts and Reports) Regulatlons 2008 other than any requir8ment that the ac￿Unts give a Irue and fair vithrf %thich is not a matt8r consid8r8d as part of an independent exarninat?n. I have no concerns and have come across no other matters in connection with thg examinatK)n to whlch attentlon should be dravffl In Ihls report In ￿der to enat a proper understar¥Jlng of th8 accounts to be reached. &J?I Christ her HavAey FCA Chartered Accountant and IrKlependent Examlner Rawlinson & Hunter LLP Eighth Floor 6 New Street Square New Fett8r Lan8 London EC4A 3AQ

Page 9

THE INGRAM TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2021

		Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Total	Funds
	Page	Income		Capital	2021	2020
		Fund		Fund	£	£
		£		£
Income from:
Investments (note 2)	14	153,436		-	153,436	227,835
Total income		153,436		-	153,436	227,835
Expenditure on:
Charitable activities (note 3)	15	764,530		-	764,530	710,881
Total expenditure		764,530		-	764,530	710,881
Net gains/(losses) on
investments(note 4)	15		-	2,322,191	2,322,191	(774,809)
Net income/(expenditure)		(611,094)		2,322,191	1,711,097	(1,257,855)
Transfers between funds		611,094		(611,094)	-	-
Net movement in funds			-	1,711,097	1,711,097	(1,257,855)
Reconciliation of funds:
Total funds brought forward
at 6 April 2020			-	9,330,445	9,330,445	10,588,300
Total funds carried forward
at 5 April 2021	10	£	-	£11,041,542	£11,041,542	£ 9,330,445

There are no recognised gains or losses other than those included in the statement of financial activities.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 11 to 17 form part of these financial statements

Page 10 THE INGRAM TRUST BALANCE SHEET AT 5 APRIL 2021 Page 2021 2020 Flxod assets: Investments (note 4) 15 11,374,287 9,322,426 Current assets: Cash at bank {note 81 17 338,555 624.979 Liabilities: Creditors.. amounts falling due within one year (note 5} 16 {439,118) (416,160) Net current ass•ts (100,563) 208,819 Total assets less current liabilitlès 11,273,724 9.531,245 Creditors: amounts falling due after more than one year {note 6} 16 {232,182) {200.800) Total net assets £ 11.041,542 £ 9,330,445 The funds of the charity: Unrestrided funds £ 11.041,542 £ 9.330,445 Approved by Ihe truslees and signed on their behalf by.. Tnjstèe date Trust date The notes on pages 11 to 17 form part of these financial statements

Page 11

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

1. ACCOUNTING POLICIES

The Ingram Trust (“the trust” or “the charity”), registered charity number 1040194, is based and administered in the United Kingdom. The registered address is Eighth Floor, 6 New Street Square, London EC4A 3AQ. The nature of the charity’s operations and principal activities are set out in the Trustees’ Annual Report.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (“Charities SORP FRS 102”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The trust constitutes a public benefit entity as defined by Charities SORP FRS 102.

The Trustees have applied the provisions in FRS102 Update Bulletin 1 and accordingly has not included a cash flow statement on this basis.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

Status of Funds

The entire resources of the funds are unrestricted and the trustees have complete discretion for their use in pursuance of the charity’s objectives.

Fixed asset investments

Investments are included at closing mid-market value (excluding any accrued interest). Realised gains and losses on investments are recognised as they arise and any gain or loss on revaluation is taken to the Statement of Financial Activities. The determination of any gains and losses is calculated by reference to the value of such assets at the beginning of the accounting period.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value, except where settlement is delayed, in which case the transaction is recognised at the present value of the settlement amount.

Page 12

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

ACCOUNTING POLICIES (continued)

Incoming resources

Investment income is derived from dividends and interest receivable from investments and is accounted for in the period in which the trust is entitled to receipt. Interest from income bearing deposit accounts is recorded as and when received only.

Resources expended

Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.

Direct charitable expenditure comprises grants and donations made during the year together with the recognition of certain commitments made by the trustees. Governance costs are included within charitable expenditure . These costs relate to the general running of the trust as opposed to the management functions inherent to generating funds. Such costs can include external audit, legal advice and costs associated with constitutional and statutory requirements.

Creditors payable within one year

Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as expenditure.

Creditors payable in more than one year

Creditors which fall due for payment greater than one year after the year end are recorded at a net present value with an applicable discount. Any income or expense arising as a result of the discount is recorded through the classification of expenditure to which the original expense was incurred.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Provisions

Provisions are recognised when the charity has an obligation at the Balance Sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Grants payable (note 7) are recognised at present value, where settlement is due over more than one year at the Balance Sheet date and there are no unfulfilled conditions under the control of the trust that would permit the trust to avoid making the future payment(s), and settlement is probable and the effect of discounting is material. The discount rate used 3% and is regarded by the trustees as providing the most current available estimate of the cost of money reflecting the time value of money to the trust.

Page 13

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

ACCOUNTING POLICIES (continued)

Taxation

The charity is not subject to any taxes on its charitable activities. Irrecoverable VAT is charged to the Statement of Financial Activities (“SOFA”) when the expenditure to which it relates is incurred and allocated.

Going Concern

The Covid-19 pandemic has created significant operational pressures on all charities. The trust is in the position of having significant assets with expenditure requirements that are within control of the trustees. The pandemic has therefore not had a negative impact on the financial sustainability of the charity and the trustees consider the adoption of the going concern basis in preparing these financial statements continues to be appropriate.

Judgements and key sources of estimated uncertainty

In preparing these financial statements, the trustees have to make judgements on how to apply the charity’s accounting policies and make estimates about the future. The critical judgements that have been made in arriving at the amounts recognised in the financial statements and the key areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities in the next financial year, are discussed below:

• Listed investment valuations - The charity holds listed investments whose valuations are largely expected to be in line with the relevant stock prices listed on the London Stock Exchange.

• Liabilities falling due after more than 1 year - The trustees have assumed an applicable discount rate (interest rate) of 3% per annum at 5 April 2021 to discount the future cash flows relating to grants payable to the present value.

Page 14

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

		Page	2021	2020
2.	INVESTMENT INCOME		£	£
	UK income from quoted securities		153,345	180,219
	Overseas income from quoted securities		-	43,781
			153,345	224,000
	Bank deposit interest		91	3,835
		9	£ 153,436	£ 227,835
3.	CHARITABLE ACTIVITIES
	Grants- the following grants were paid during the year:
	WWF (UK)		60,000	60,000
	The Royal National Theatre		50,000	50,000
	NSPCC		38,000	38,000
	Almeida Theatre Company Limited		35,000	35,000
	Shelter		35,000	30,000
	Countryside Learning		30,000	20,000
	Age UK		25,000	25,000
	Maggie’s		25,000	25,000
	Shooting Star Children’s Hospices		25,000	25,000
	Queen Elizabeth Foundation for Disabled People		25,000	35,000
	Alzheimer’s Society		20,000	20,000
	CALM		20,000	20,000
	Scope		20,000	-
	SeeAbility		20,000	20,000
	St Mungo’s		20,000	20,000
	The Duke of Edinburgh Award		20,000	20,000
	Marie Curie Cancer Care		20,000	-
	Macmillan Cancer Support		20,000	15,000
	Woodland Trust		20,000	-
	Disability Challengers		15,000	15,000
	Outward Bound Trust		15,000	15,000
	Pimlico Opera		15,000	15,000
	St Giles Trust		15,000	15,000
	Surrey Care Trust		15,000	15,000
	Rainbow Trust Children’s Charity		15,000	15,000
	3 Pillars Project		10,000	-
	British Exploring Society		10,000	-
	Crime Stoppers		10,000	10,000
	LEPRA		10,000	10,000
	Multiple System Atrophy Trust (MSA Trust)		10,000	10,000
	Princess Alice Hospice		10,000	10,000
	South East Cancer Help Centre		10,000	10,000
	Cherry Trees		5,000	5,000
	WWF (UK) – Jaguar Collaring Mission		-	25,000
	Total grants paid during the year		693,000	628,000

Page 15

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

		Page	2021	2021	2020
	CHARITABLE ACTIVITIES (continued)			£	£
	Total grants paid (from previous page)	14		693,000	628,000
	Provision for commitments brought forward (note 7)	17	(608,800)		(550,510)
	Provision for commitments carried forward (note 7)	17		657,182	608,800
	Total grants			741,382	686,290
	Governance costs
	Accountancy and administration fees			21,270	21,702
	Independent examiner’s fees			1,800	1,800
	Legal Entity Identifier fee			78	-
	Administration and investment monitoring fees			-	825
	Legal fees			-	264
	Total governance costs			23,148	24,591
	Total charitable activities	9	£	764,530	£ 710,881
	There are no employees other than the trustees, all of whom are		unpaid.
4.	FIXED ASSET INVESTMENTS
	At Market Value:
	Quoted investments within the United Kingdom		10,416,685		8,453,343
	Quoted investments outside the United Kingdom			957,602	869,083
	Total investments under management	10	£ 11,374,287		£ 9,322,426
	Net realised investment gain			41,605	25,032
	Net unrealised investment gain/(loss)		2,280,586		(799,841)
	Net gain/(loss) on investments	9	£ 2,322,191		£ (774,809)
	Market value at 6 April 2020		9,322,426		10,560,124
	Disposals at carrying value			(270,330)	(462,889)
	Net realised investment gain on sales			41,605	25,032
	Net unrealised investment (loss)/gain on revaluation		2,280,586		(799,841)
	Market Value at 5 April 2021	10	£ 11,374,287		£ 9,322,426
	Historical Cost at 5 April 2021		£ 8,632,363		£ 8,676,659
	Value of investment holdings
	HavenRock Fund		10,401,910		8,430,876
	Schroder Private Equity Fund of Funds IV			938,314	849,224
	Schroder Real Estate Fund - Continental Europe Fund 1			19,288	19,859
	Melford Special Situations Fund			14,775	22,467

Page 16

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

		Page	2021	2020
5.	CREDITORS - amounts falling due within one year		£	£
	Grants payable (note 7)	16	425,000	408,000
	Accountancy fees		12,240	6,360
	Independent examiner’s fees		1,800	1,800
	Investment management fees		78	-
		10	£ 439,118	£ 416,160
6.	CREDITORS - amounts falling due after more than one year
	Grants payable (note 7)	17	£ 232,182	£ 200,800
7.	GRANTS PAYABLE
	At 5 April 2021, the following grants were committed to be paid in		subsequent years
	Payable within one year(note 5)
	WWF (UK)		60,000	-
	The Royal National Theatre		50,000	50,000
	Shelter		35,000	-
	Countryside Learning		30,000	-
	Maggie’s		25,000	25,000
	Queen Elizabeth Foundation for Disabled People		25,000	-
	CALM		20,000	20,000
	Macmillan Cancer Support		20,000	-
	Marie Curie Cancer Care		20,000	-
	Scope		20,000	-
	SeeAbility		20,000	20,000
	St Giles Trust		15,000	15,000
	Surrey Care Trust		15,000	15,000
	Rainbow Trust Children’s Charity		15,000	15,000
	Crime Stoppers		10,000	10,000
	LEPRA		10,000	10,000
	Multiple System Atrophy Trust (MSA Trust)		10,000	10,000
	Princess Alice Hospice		10,000	10,000
	South East Cancer Help Centre		10,000	-
	Cherry Trees		5,000	5,000
	NSPCC		-	38,000
	Almeida Theatre Company Limited		-	35,000
	Shooting Star Children’s Hospices		-	25,000
	Alzheimer’s Society		-	20,000
	The Duke of Edinburgh Award		-	20,000
	St Mungo’s		-	20,000
	Disability Challengers		-	15,000
	Outward Bound Trust		-	15,000
	Pimlico Opera		-	15,000
	Total grants payable within one year	16	425,000	408,000

Page 17

THE INGRAM TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021 (continued)

		Page	2021	2020
	GRANTS PAYABLE (continued)		£	£
	Payable after more than one year (note 6)
	WWF (UK)		60,000	-
	Macmillan Cancer Support		40,000	-
	Shelter		35,000	-
	Countryside Learning		30,000	-
	Queen Elizabeth Foundation for Disabled People		25,000	-
	Marie Curie Cancer Care		20,000	-
	Scope		20,000	-
	South East Cancer Help Centre		10,000	-
	The Royal National Theatre		-	50,000
	Maggie’s		-	25,000
	CALM		-	20,000
	SeeAbility		-	20,000
	St Giles Trust		-	15,000
	Surrey Care Trust		-	15,000
	Rainbow Trust Children’s Charity		-	15,000
	Crime Stoppers		-	10,000
	LEPRA		-	10,000
	Multiple System Atrophy Trust (MSA Trust)		-	10,000
	Princess Alice Hospice		-	10,000
	Cherry Trees		-	5,000
	Finance income arising on discount of long term grant	commitments	(7,818)	(4,200)
	Total grants payable in more than one year	16	232,182	200,800
	Total grants payable at 5 April 2021	15	£ 657,182	£ 608,800
8.	CASH AT BANK
	Coutts & Co		338,555	624,979
	Total cash at bank	10	£ 338,555	£ 624,979

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the trustees of the Ingram Trust.

10. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year to 5 April 2021.

In the previous year an amount of £264 was paid for legal services on an arm’s length basis to Maurice Turnor Gardner LLP, a law firm in which one of the trustees, Claire Maurice is a partner.

Additionally £25,000 was donated to WWF (UK) towards it’s Amazon conservation programme in support of a field expedition to track and collar Jaguars in Brazil and on which a trustee, Jonathan Ingram, participated. The donation covered Mr Ingram’s internal flights and transfers on the mission costing £290. He received no other material benefit from the donation.