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|||Page|
|---|---|---|
|Annual
Report ofthe Trustees||1-6|
|Independent
Auditor's|Report|7-8|
|Statement
of Financial|Activities||
|Balance Sheet||10|
|Cash Flow Statement|||
|Notes to the Financial|Statements|12-20|
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||Page|Unrestricted|Unrestricted|Funds|
|---|---|---|---|---|
|||2020f||2019
f|
|Income and endowments
from:|||||
|Donations
and legacies (note 2)|14|1,579,683||1,994,937|
|Investment
income (note 4)|15|1,942,570||2,769,644|
|Other||3,425||12,466|
|Total income||3,525,678||4,777,047|
|Expenditure
on:|||||
|Cost of raising funds (note 8)|16|375,306||352,751|
|Charitable
activities (note 10)|17-19|7,050,019||5,228,069|
|Other||||75|
|Total expenditure||7,425,325||5,580,895|
|Net gains on investments
(note 3)|14|17,770,791||15,957,219|
|Net Income||13,871,144||15,153,371|
|Other recognised
(losses)/gains|||||
|Losses on foreign currency transactions||(160,592)||(100,015)|
|Net movement
in Funds||13,710,552||15,053,356|
|Total funds brought
forward at 1 January 2020||128,475,644|113,422,288||
|Total funds carried forward at 31December 2020||f142,186,196|f128,475,644||
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|||||Page|2020|2019|
|---|---|---|---|---|---|---|
||||||E||
|Fixed Assets|||||||
|Investments
and cash under management|||(note 3)|14|141,183,246|126,327,816|
|Current Assets|||||||
|Debtors (note 5)||||15|806,255|31,543|
|Cash at bank (note|6)|||15|9,942,858|7,562,970|
||||||10,749,113|7,594,513|
|Creditors - Amounts|falling due|within one|year (note 7)|16|(4,030,514)|(1,880,410)|
|Net Current Assets|||||6,718,599|5,714,103|
|Creditors - Amounts|falling due|more than|one year (note 7)|16|(5,715,649)|(3,566,275)|
|Total Net Assets|||||8142,186,196|8128,475,644|
|Represented
by|||||||
|Unrestricted
Funds|—Capital|Fund|||6142,186,196|E128,475,644|
|Approved
by the Board ofTrustees and|||||||
|Signed on their behalf by:|||||||
|Christopher
Jan Andrew
' s||||||....2021|
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||||||Page|2020||2019|
|---|---|---|---|---|---|---|---|---|
|||||||||E|
|Net Cash flow from Operating
Activities|||||||||
|Net incoming
resources before|gains|||||13,710,552||15,053,356|
|Less investment
income||||||(1,918,109)||(2,676,211)|
|Less deposit interest||||||(27,886)||(105,899)|
|(Increase)/decrease
in debtors||||||(774,712)||360|
|Increase
in creditors||||||4,299,478||2,869,088|
|Net gain on investment
assets||||||(17,770,791)|(15,957,219)||
|Net loss on foreign exchange||||||160,592||100,015|
|Net cash outflow from operating
activities||||||(2,320,876)||(716,510)|
|Returns
on investments
and|servicing offinance||||||||
|Investment
income||||||1,918,109||2,676,211|
|Deposit interest||||||27,886||105,899|
|Capital expenditure
and financial||investments|||||||
|Purchase of investments||||||(41,845,945)|(20,817,308)||
|Proceeds from sale of investments||||||43,687,629||17,866,010|
|Increase/(Decrease)
in cash|in the|period||||E 1,466,803|8|(885,698)|
|Reconciliation
ofnet cash flow to||movement||in net funds|||||
|Net cash resources at 1 January 2020||||||13,256,953||14,242,666|
|Increase/(decrease)
in cash||||||1,466,803||(885,698)|
|Foreign exchange
movements||||||(160,592)||(100,015)|
|Cash and Cash Equivalents|at 31|December||2020||f14,563,164|f13,256,953||
|Cash and Cash Equivalents|Consists||of:||||||
|Cash at bank and
in hand (note 6)|||||15|9,942,858||7,562,970|
|Cash held with investments
managers|||(note 3)||14|4,620,306||5,693,983|
|Cash and Cash Equivalents|at 31|December||2020||f14,563,164|813,256,953||
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|discount
and a higher|liability value b|eing presented||as a liability
in|these financi|a|l statements.||
|---|---|---|---|---|---|---|---|---|
|2.
DONATIONS
AND LEGACIES|||||||||
|F1,579,683 was received
in the|year ended 31 December 2020 (2019 - 61,994,937)from||||||the Estates of|the|
|original
Founders
of the Jordan|Charitable
Foundation.
Additional
receipts||||in the region||off20 million|are|
|anticipated
to be received during 2021 but at this stage the amount cannot be confirmed||||||with certainty.|||
|3.
FIXEDASSETS|||||||||
|Investments
and cash under management
at 31 December 2020|||||||||
|||Baillie||Oldfield|Payden||||
||Bessemer|Gifford|Partners
LLP||&Rygel||Total||
||E|E||6|8||6||
|Investments|||||||||
|Market value at 31 December 2019|49,958,547|41,638,078||20,702,488|8,334,720||120,633,833||
|Additions at cost|19,465,992|8,618,837||21,116|13,740,000||41,845,945||
|Disposals at carrying
value|(19,109,363)|(7,835,048) (16,743,218)|||-||(43,687,629)||
||50,315,176|42,421,867||3,980,386|22,074,720||118,792,149||
|Realised (loss)/gain
on disposals|(46,135)|381,237||(3,980,386)|||(3,645,284)||
|Unrealised
gain on revaluation|4,049,290|17,084,341|||282,444||21,416,075||
|Net gain/(loss)
on investments|4,003,155|17,465,578||(3,980,386)|282,444||17,770,791||
|Market value at 31 December 2020|54,318,331|59,887,445|||22,357,164||136,562,940||
|Cash|1,522,534|3,097,772|||||4,620,306||
|Total value 31 December 2020|f55,840,865f 62,985,217||f|- 6|22,357,164|8141,183,246|||
|Total value 31 December 2019|F 51,459,383 K45,831,225||f|20,702,488 F.|8,334,720|8126,327,816|||
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|GRANT COMMITMENTS (continued)|GRANT COMMITMENTS (continued)|GRANT COMMITMENTS (continued)|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|At 31 December 2020, the charity had|||the|following|||contingent||liabilities:||||||
|Herefordshire
RDA - the trustees|agreed|||to support||||the construction
ofa||new|equestrian|centre up to||the|
|value ofE1,000,000, but this is dependent||||on the charity identifying
a suitable site in and around the Hereford|||||||||||
|area.
At the 31 December 2020, drawdowns|||||totalling|||E56,693 have been made|||against the commitment|||in|
|relation to professional fees to locate||a suitable||||site,|the balance ofE943,307remains
contingent.||||||||
|Helmsdale
8 District
Development|||Trust||—the|||trustees|have
committed||E249,000|to|support|the|
|redevelopment
ofderelict tennis courts|||in Helmsdale||||into a multi-use
games|||area, but this was dependent||||on|
|the charity raising a further
E.166,000
the Helmsdale 8 District Development||ofthe total funds
Trust confirmed||||||they require forthe project ofE415,000. In April 2021,
that they had achieved the matched
funding,
as the|||||||
|timing ofthe grants are still uncertain,|||the|award||remains
contingent
.|||||||||
|CHARITABLE ACTIVITIES||||||||Registered|||||||
|||||||||Charity
No.|||2020||2019||
|UNITED KINGDOM|||||||||||E||E||
|Age UK Hereford
and Localities|||||||||1093512||10,000||10,000||
|Angling
Trust|||||||||||5,000||5,000||
|Atlantic Salmon Trust|||||||||252742||5,000||5,000||
|Borana Conservancy
Ltd - Borana|Rangelands|||||School|||||22,026||||
|British Disabled
Angling
Association|||||||||1074729||10,000||10,000||
|County Air Ambulance
Trust|||||||||1057063||20,000||20,000||
|Hards Federation|||||||||||340,000|1,500,000|||
|Herefordshire
Growing
Point|||||||||1006625||5,000||5,000||
|Herefordshire
Headway|||||||||1092578||100,000||10,000||
|Herefordshire
RDA|||||||||1100675||90,593||14,100||
|IntoUniversity|||||||||1118525|1,500,000|||||
|Loth Helmsdale
Flower Show Society|||||||||SC029615||2,000||2,000||
|Missing
Salmon Alliance|||||||||||150,000||||
|NMITE|||||||||1176550|3,094,945|||50,000||
|Sutherland
Schools Pipe Band, Golspie|||||||||SC015660||8,000||8,000||
|St Michael's
Hospice|||||||||511179||10,000||20,000||
|The PCC of Hentland
and Hoarwithy|||||||||||38,522||||
|The Special Air Service Regimental||Association|||||||254393||15,000||15,000||
|Wildfowl 8Wetlands
Trust|||||||||1030884|1,440,000|||15,000||
|Wye 8 USK Foundation|||||||||1080319||10,000||10,000||
|Alzheimer's
Research Trust|||||||||1077089||||15,000||
|ABF —The Soldiers' Charity|||||||||1146420||||10,000||
|ASPIRE|||||||||1075317||||5,000||
|Asthma
UK|||||||||802364||||10,000||
|BEAT|||||||||801343||||10,000||
|British Diabetic Association|||||||||215199||||10,000||
|British Heart Foundation|||||||||225971||||10,000||
|British Liver Trust|||||||||298858||||10,000||
|British Red Cross|||||||||220949||||20,000||
|Brooke Hospital for Animals|||||||||1085760||||10,000||
|Canine Partners
For Independence|||||||||803680||||20,000||
|Children's
Hospice Association,
Scotland|||||||||SC019724||||2,000||
|Carried Forward||||||||||6,876,086||1,831,100|||
||||FOR THE YEAR TO 31 D|FOR THE YEAR TO 31 D|FOR THE YEAR TO 31 D|ECEMBER 2020|||
|---|---|---|---|---|---|---|---|---|
|10.|CHARITABLE ACTIVITIES||(continued)|||Registered|||
|||||||Charity No.|2020|2019|
||UNITED KINGDOM|(continued)|||||6|6|
||Brought Forward||||||6,876,086|1,831,100|
||ExtraCare Charitable|Trust||||327816||10,000|
||Institute ofCancer Research|||||1095197||30,000|
||Kildonan
& Kinbrace|Amenities||Association||SC026566||30,000|
||Macmillan
Cancer Support|||||261017||20,000|
||Marie Curie|||||207994||20,000|
||Martha Trust|||||1067885||10,000|
||Motor Neurone
Disease Association||||(MND)|294354||10,000|
||National
Trust for Scotland|||||SC007410||10,000|
||National
Trust|||||205846||10,000|
||PDSA|||||208217||10,000|
||Perennial|||||1155156||10,000|
||Plantlife|||||1059559||500|
||Ross on Wye Choral|Society||||507112||8,000|
||Royal National
College for the Blind|||||1000388||5,000|
||Royal National
Lifeboat Institution|||||209603||5,000|
||Royal National
Mission for Deep Sea Fishermen|||||232822||10,000|
||Society for the Welfare of Horses and Ponies|||||266247||15,000|
||SPANA|||||209015||10,000|
||StJohn the Baptist,|Eastnor||||||50,000|
||The Cure Parkinson's|Trust||||1111816||15,000|
||The Prince's Trust|||||1079675||500,000|
||The Royal Star & Garter Home|||||210119||10,000|
||The Salvation
Army|||||214779||15,000|
||The Samaritans|||||219432||15,000|
||The St.John Ambulance|||||1077265||15,000|
||The Stroke Association|||||211015||15,000|
||The Sutton Trust|||||1146244||2,500,000|
||The War Memorials|Trust||||1062255||10,000|
||Versus Arthritis|||||207711||10,000|
||Woodlands
Trust|||||294344||10,000|
||World Horse Welfare|||||206658||10,000|
||Less:||||||||
||Adjustments
to prior|year donations|||||(14,100)|(100,000)|
||Discount factor 2% per annum||||||(45,447)|(74,783)|
||Total grants awarded||||||6,816,539|5,054,817|
||Governance
Costs||||||||
||Accountancy,
administrative||and secretarial fees||||217,200|151,200|
||Audit fees||||||14,400|14,400|
||Trustees insurance fees||||||1,880||
||Legal fees|||||||7,652|
||||||||233,480|173,252|
||Total cost ofgrant|making||||9|F 7,050,019 6 5,228,069||
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|SUMMARY OF TOTAL DONATIONS|SINCE INCEPTION|ON 5DECEMBER 1995||
|---|---|---|---|
|Period 5 December 1995to 31 December 2019|||23,197,455|
|Year to 31 December 2020|||6,616,539|
||||830,013,994|
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|12.|FINANCIAL
INSTRUMENTS|||||Page|2020|2019|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
||The carry amounts
ofthe Trust's|financial|instruments||are as|follows:|||
||Financial assets||||||||
||Measured
at fair value through|SOFA:|||||||
||-Fixed asset quoted
investments|||||14|136,562,940|120,633,833|
||-Cash under management|||||14|4,620,306|5,693,983|
||-Cash at bank and in hand|||||15|9,942,858|7,562,970|
||-Measured at amortised
costs|||||15|806,255|31,543|
||Financial
liabilities||||||||
||Measured
at amortised cost||||||||
||-Creditors|||||16|9,746,163|5,446,685|
||The net gains attributable
to the Trust's||financial|instruments|||||
||are summarised
as follows:||||||||
||Income and expense||||||||
||Measured
at fair value through|SOFA:|||||||
||-Net gains (including
changes in fair value)|||||14|17,770,791|15,957,219|