| CONTENTS | CONTENTS | PAGE |
|---|---|---|
| 1 | The Trustees' Report | 2-10 |
| 2 | Independent Auditors' Report | 11-13 |
| 3 | StatementofFinancial Activities | 14 |
| 4 | Balance Sheet | 15 |
| 5 | Cash Flow Statement | 16 |
| 6 | Notes to the Accounts | 17-25 |
| Trustees Registered Office Principal Officers Bankers Solicitors Auditors Investment Advisers Investment Powers Objects |
Mr M L Sainsbury Mrs Z Sainsbury Mr J J Sainsbury The,Peak 5 Wilton Road London SW1V 1AP Mrs K Everett Mr M Woodruff Mrs S Ferguson Mr A Shah Chief Operating Officer Executive Executive Senior Finance Partner All the Principal Officers are employed on a part-time basis. Child & Co 1 Fleet Street London EC4Y 1BD Portrait Solicitors 21Whitefriars Street London EC4Y 8JJ Crowe U.K. LLP 55 Ludgate Hill London EC4M 7 JW Schroder&Co. Limited 12 Moorgate London EC2R 6DA The Trust Deed empowers the Trustees to appoint investment advisers who have discretion to invest the funds of the Trust within guidelines established by the Trustees. The objectsofthe Trust as giveninthe Trust Deed are for general charitable purposes. |
|---|---|
| Climate Change Collaboration Environment -VenturePortfolio -NonPortfolio Food -VenturePortfolio -NonPortfolio Music & SocialNeed -VenturePortfolio -NonPortfolio Youth Work -VenturePortfolio -NonPortfolio Portfolio Support General |
Grants Approved · | Grants Approved · | Grants Approved · | Payments made | Payments made |
|---|---|---|---|---|---|
| Number | £ | % | £ | % | |
| 15 - 2 - - - - 1 - 1 2 |
240,768 - 55,000 - - - - 138,000 - 39,000 30,000 |
47.9 0.0 10.9 0.0 0.0 0.0 0.0 27.4 0.0 7.8 6.0 |
344,841 40,000 74,000 170,000 5,000 110,000 0 146,000 0 8,000 18,000 |
37.0 4.4 8.2 18.8 0.5 12.1 0.0 16.1 0.0 0.9 2.0 |
|
| 21 | 502,768 | 100.0 | 915,841 |
100.0 |
15 December 2021
| Notes Income Donations and gifts Investment income 3 Other income Total income and endowments Resources expended Costofraising funds Investment management costs 4 Charitable activities Grant-making: Grant expenditure 5 Grant related support costs 6 Costofgrant-making Total expenditure Net (expenditure)/ income before gains Gains/(losses)oninvestment assets Gains/(losses)oncurrency exchange Netincome/(expenditure) Reconciliationoffunds Total funds brought forward Total funds carried forward |
Unrestricted Funds Expendable Total Funds Total Funds Endowment 2021 2020 |
|---|---|
| £ 836,969 279,000 23,316 £ £ £ 836,969 812,500 279,000 496,569 23,316 28,138 |
|
| 1,139,285 1,139,285 1,337,207 |
|
| 748,029 266,018 98,163 98,163 106,114 748,029 1,087,563 266,018 226,252 |
|
| 1,014,047 1,014,047 1,313,815 |
|
| 1,014,047 98,163 1,112,210 1,419,929 |
|
| 125,238 125,238 27,042 152,280 (98,163) 27,075 (82,722) 3,836,407 3,836,407 (3,087,538) 13,355 13,355 (11,292) 3,751,599 3,876,837 (3,181,552) 17,719,156 17,746,198 20,927,750 21,470,755 21,623,035 17,746,198 |
| FIXED ASSETS Tangible fixed assets ln-.estments CURRENT ASSETS Debtors Cash at bank andinhand CURRENT LIABILITIES Creditors- amounts falling due within 1 year NET CURRENT LIABILITIES NET ASSETS CAPITAL FUNDS Expendable endowment INCOME FUNDS Unrestricted funds |
Notes | Notes | 2021 £ 9,491 21,634,238 21 ,643,729 (20,694) 21,623,035 21,470,755 152,280 21,623,035 |
2020 £ 3,000 18,192,003 |
|
|---|---|---|---|---|---|
| 8 9 10 11 12 12 |
£ 29,880 649,526 |
||||
| 18,195,003 | |||||
| 236,863 _112,387 _ |
|||||
| 679,406 700,100 |
349,250 798,055 (448,805) 17,746,198 17,719, 156 27,042 17,746,198 |
||||
| Cash flows from operating activities Net cash generated by operating activities Cashflows from investing activities: Di1ndendsand interest Exchangesgains/(losses) Purchaseofim.estments Saleofinwstments Net cash (used in) investing activities Change in cash and cash equivalents intheyear Cash and cash equivalentsatthe beginningoftheyear Cashand cash equivalentsatthe end of theyear Reconciliationofnet expenditure to netcashflow from operating activities Netmowmentin funds as per the st~tementoffinancial acti1nties (Gains)/losses oninwstments Di1ndendsand interest Exchanges (gains) / losses Fixedassetadditions Depreciation charges Decrease_I_(increase)indebtors (Decrease)_I_increaseincreditors . Net cash generated by operating activities |
2021 £ (149,388) 279,000 13,355 (9,977,965) 10,213,732 528,122 378,734 596,682 975,416 2021 £ 3,876,837 (3,836,407) (279,000) (13,355) (9,323) 2,832 206,983 (97,955) (149,388) |
2020 |
|---|---|---|
| £ (521,047) 500,785 (11,292) (4,584,501) 4,338,504 243,496 |
||
| (277,551) 874,233 |
||
| 596,682 | ||
| 2020 | ||
| £ (3,181,552) 3,087,538 (500,785) 11,292 1,500 (79,280) 140,240 (521,047) |
| Cash at bank andinhand Cash balances held byinwstmentmanager forreinwstment(Note 9) |
2021 £ 649,526 325,890 975,416 2020 £ 112,387 484,295 596,682 Changein year £ 537,139 (158,405) 378,734 |
|---|---|
| Go-.emment fixed interest Other fixed interest UK equities O-..erseasequities Altematiws Impactlnwstments Other |
2021 2020 |
|---|---|
| £ % £ % 583 0 726 0 53,063 19 11,015 2 74,223 27 227,185 46 86,740 31 112,655 23 46,032 16 107,317 21 18,311 7 37,671 8 48 0 0 |
|
| 279,000 100 496,569 100 |
| GRANTS PAYABLE | ||||
|---|---|---|---|---|
| Reconciliationofgrants payable: Commitments at 6 April 2020 Grants not accrued at 6 April 2020 Grantsapprowdin theyear . Grants cancelled, refunded or amended Grants not accrued at 5 April2021 Grants payable for the year Grants paid during the year Commitments at 5 April 2021 Commitments at 5 April2021are payable as follows: Within one year (note 11) £ 685,000 510,768 3,261 (451,000) 2021 £ 707,019 748,029 (915,841) 539,207 2021 £ 539,207 |
2021 | 2020 | ||
| £ 769,000 1,003,563 _(685,0001 _ |
£ 582,249 1,087,563 (962,793) |
|||
| 539,207 | 707,019 | |||
| 2021 | 2020 £ 707,019 |
|||
| £ 539,207 |
| Climate Change Collaboration Citizens UK On Road Media Global Legal Action Network {GLAN) C40 Cities Climate Leadership Group Platform Uplift Grants payable up to £15,000 Environment Ashden Sustainable solutions, betterli-.es- Ashden Awards En'vironmental Funders' Network Grants payable up to £15,000 Food Chefs in Schools Grants payable up to £15,000 Music& Social Need The Paraorchestra&Friends InPlace ofWar Youth Work (including Refugees) Switchback lnitiati-.e - {knownasSwitchback) Become - {formerly known as Who Cares? Trust) Just for Kids Law General Specialist support to beneficaries Grants payable up to £15,000 Total grants payable per StatementofFinancial Acti'vities |
£ 55,000 30,000 27,000 25,000 20,000 20,000 67,029 50,000 40,000 15,000 30,000 5,000 60,000 50,000 92,000 50,000 50,000 47,000 15,000 |
|---|---|
| 748,029 |
| GRANT RELATED SUPPORT COSTS | |
|---|---|
| Staff costs Shareofjoint office costs Direct costs including travel Depreciation Legal and professional fees Auditors' remuneration |
Grant- Governance making 2021 2020 Total Total |
| £ 152,340 29,261 9,134 2,832 193,567 59,411 252,978 £ 4,412 4,412 8,628 13,040 £ £ 156,752 147,502 29,261 32,661 9,134 16,770 2,832 1,500 197,979 198,433 59,411 22,563 8,628 5,256 266,018 226,252 |
| ANALYSISOFSTAFF COSTS | |
|---|---|
| Wages and salaries Social security costs Other pension costs |
2021 2020 |
| £ 127;534 14,392 14,826 £ 119,663 13,407 14,432 |
|
| 156,752 147,502 |
| Cost At6April2020 Additions At5April2021 Depreciation At6April2020 Charge for the year At5April2021 Net Book Value At5April2021 At5April2020 9.FIXED ASSET INVESTMENTS Market value 5 April 2020 Add: Acquisitions at cost Less: Disposals at proceeds value Unrealised gains/(losses) in year Market value 5 April2021 lm.estment cash Total investments |
2021 2020 |
|---|---|
| £ £ 15,000 15,000 9,323 |
|
| 24,323 15,000 |
|
| 12,000 10,500 2,832 1,500 |
|
| 14,832 12,000 |
|
| 9,491 3,000 3,000 4,500 2021 2020 |
|
| £ £ .17,707,708 20,549,249 9,977,965 4,584,501 (10,213,732) (4,338,504) 3,836,407 (3,087, 538l |
|
| 21,308,348 17,707,708 325,890 484,295 |
|
| 21,634,238 18,192,003 |
| Go\11:fixed interest Other fixed interes UK equities 01.erseas equities Altematiws Other Cash Impact investments Unquoted Quoted |
2021 2020 |
|---|---|
| Cost Market Value Cost Market Value |
|
| £ £ 207,467 237,460 529,874 642,047 . 1,638,993 2,360,434 8,520,488 10,350,895 2,748,654 3,443,289 450,000 450,000 325,890 325,890 3,363,127 2,920,989 870,049 903,234 18,654,542 21,634,238 £ £ 571,028 648,440 618,516 833,277 3,548,833 4,791,782 5,472,668 6,182,338 2,286,454 2,557,544 484,295 484,295 3,043,683 2,694,327 16,025,477 18,192,003 |
| Accrued income Other debtors |
2021 2020 |
|---|---|
| £ £ 29,814 64,860 66 172,003 29,880 236,863 |
| Grants payable within one year Professional charges lnwstmentmanagement fee Other creditors · |
2021 2020 £ £ 539,207 707,019 17,073 20,319 48,030 45,509 95,790 25,208 700,100 798,055 |
|---|---|
| Fund balances at 5 April 2021 are represented by: Tangible fixed assets Investments Current assets Current liabilities Total net assets Move·mentintheyear Opening balance as at 5 April 2020 Total income and endowments Costofraising funds Costofgrant-making Net losses on investments Lossesoncurrency exchange Closing balance as at 5 April 2021 COMPARATIVE Fund balances at 5 April 2020 are represented by: Tangible fixed assets Investments .Current assets Current liabilities Total net assets Movement in theyear Opening balance as at 5 April 2019 Total income and endowments Costofraising funds Cost of grant-making Net gains on investments Gains on currency exchange Closing balance as at 5 April 2020 |
Unrestricted Expendable Totals Funds Endowment 2021 |
|
|---|---|---|
| £ £ £ 9,491 9,491 21,634,238 21,634,238 804,350 (124,944) 679,406 (652,070) (48,030) (700,100) |
||
| · 152,280 21,470,755 21,623,035 |
||
| 27,042 17,719,156 17,746,198 1,139,285 1,139,285 (98,163) (98,163) (1,014,047) (1,014,047) 3,836,407 3,836,407 13,355 13,355 |
||
| 152,280 21,470,755 21,623,035 |
||
| Unrestricted Expendable Totals Funds Endowment 2020 |
||
| £ £ £ 3,000 3,000 18,192,003 18,192,003 779,588 (430,338) 349,250 (752,546) (45,509) (798,055) |
||
| 27,042 17,719,156 17,746,198 |
||
| 3,650 20,924,100 20,927,750 1,337,207 1,337,207 (106,114) (106,114) (1,313,815) (1,313,815) (3,087,538) (3,087,538) (11,292) (11,292) |
||
| 27,042 17,719,156 17,746,198 |
| Income Donations and gifts Investment income Other income Total income and endowments Resources expended _Cost_ofraising funds Investment management costs Charitable activities Grant-making: Grant expenditure Grant related support costs Cost of grant-making Total expenditure Net(expenditure)/income before gains Gains/(losses) on investments Exchange gains / (losses) Net(expenditure)/income Reconciliationoffunds Total funds brought forward Total funds carried forward |
Unrestricted Expendable Total Funds Funds Endowment 2020 £'000 £'000 £'000 812,500 496,569 28,138 812,500 496,569 28,138 |
|---|---|
| 1,337,207 1,337,207 |
|
| 106,114 106,114 |
|
| 1,087,563 226,252 1,313,815 1,313,815 23,392 106,114 {106,114) (3,087,538) - (11,292) 1,087,563 226,252 1,313,815 1,419,929 (82,722) (3,087,538) (11,292) |
|
| 23,392 3,650 27,042 (3,204,944) 20,924,100 17,719,156 (3,181,552) 20,927,750 17,746,198 |