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|Trustees|Clare Sainsbury
(Settlor)|Clare Sainsbury
(Settlor)||
|---|---|---|---|
||David Wood|||
||Dominic
Flynn|||
|Registered|The Peak, 5Wilton Road|||
|Office|London SW1V 1AP|||
|Principal|Karen Everett|Chief Executive Officer||
|Officers|Matthew
Williams|Executive||
||Elaine Ponte|Executive||
||Principal officers are employed||part-time|
|Bankers|Royal Bank ofScotland|||
||119- 121Victoria Street|||
||London|||
||SW1E 6RA|||
|Solicitors|Portrait Solicitors (up to31July||2022)|
||21Whitefriars
Street|||
||London
EC4Y8JJ|||
||BDBPitmans
LLP (as from 1August 2022)|||
||1Bartholomew
Close|||
||London
EC1A 7BL|||
|Auditor|Sayer Vincent
LLP|||
||Invicta House|||
||108-114Golden Lane|||
||London|||
||EC1YOTL|||
|Investment|Cazenove
Capital Management|||
|Managers|1London Wall Place|||
||London Wall|||
||Barbican|||
||London
EC2Y 5AU|||
|Objects|The objects ofthe Trust|as given|in the Trust Deed are for general charitable|
||purposes.|||
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|||||||Grants|Approved|tsI||
|---|---|---|---|---|---|---|---|---|---|
|||||||Number||b~r.i.-;-gg&||
|Autism||||||29|445,$90|||
|Disability,|Violence|and|Access|to|Justice|14|1,456,500|6~iii 1. *||
|General||||||1|20,000|'25%0@||
|||||||44|1,921,890|74'.--, =' g 058gSQ,|~|
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|A2ndvoice
CIC||811,037|
|---|---|---|
|Autism
Bedfordshire||f13,000|
|Blackpool Tiggers||E10,000|
|Brentford
FCCommunity|Sports Trust|f11,000|
|CASPA||E8,000|
|Disabilities
&Self-Help (DASH) Ceredigion||610,000|
|Dreadnought
Centre||E10,000|
|Families United Network|(FUN)|E7,000|
|Helping
Hands Autism Support Group||f10,000|
|Hillingdon
Autistic Care and Support||E16,200|
|KIDSYorkshire &Humber||E16,000|
|KIDS Lincolnshire||E9,000|
|Killamarsh
Autistic & PDA Support Group||f7,000|
|Lambeth
Autism Group||E9,970|
|National
Autistic Society|- Malone (South Belfast) Branch|E10,540|
|PLUS Forth Valley||E11,000|
|Project Art Works||F12,500|
|Resources for Autism||E15,000|
|Spectrum||E12,000|
|WECAN - We Can Enable||f15,518|
|WHISH Group||E5,925|
|White Lodge Centre||611,300|
|YMCA East Surrey||E8,000|
|||Report and Accounts —5April 2023|
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||||Unrestricted|Expendable|Total Funds|Total Funds|
|---|---|---|---|---|---|---|
|||Notes|Funds|Endowment|2023|2022|
|Income and Endowment|from:||||||
|Donations
and gifts||||1,218,750|1,218,750|1,375,000|
|Investments|||362,414||362,414|264,910|
|Bank deposit interest|||42,256||42,256|3,047|
|Total Income|||404,670|1,218,750|1,623,420|1,642,957|
|Expenditure
on:|||||||
|Raising funds:|||||||
|Investment
management|fees|||91,208|91,208|95,305|
|Charitable
activities:|||||||
|Grant-making:|||||||
|Grant expenditure|||2,262,260||2,262,260|1,458,952|
|Grant related support|costs||258,304||258,304|220,288|
|Cost ofgra nt-ma king|||2,520,564||2,520,564|1,679,240|
|Total Expenditure|||2,520,564|91,208|2,611,772|1,774,545|
|Net (expenditure)/income|before||(2,115,894)|1,127,542|(988,352)|(131,588)|
|{losses)/gains
on investments|||||||
|Net (losses)/gains
on investments||||(1,027,637)|(1,027,637)|1,141,304|
|Transfers
between
funds|||2,115,894|(2,115,894)|||
|Net movement
in funds||||(2,015,989)|(2,015,989)|1,009,716|
|Reconciliation offunds:|||||||
|Total funds brought forward||||27,451,814|27,451,814|26,442,098|
|Total funds carried forward||||25,435,825|25,435,825|27,451,814|
##
|BALANCE SHEET|||||||
|---|---|---|---|---|---|---|
|AS AT 5APRIL 2023|||||||
||||Notes||2023|2022|
|FIXEDASSETS|||||||
|Tangible fixed assets|||||8,457|10,572|
|Investments|||||25,513,915|26,244,225|
||||||25,522,372|26,254,797|
|CURRENT ASSETS|||||||
|Debtors||||20,962||303,690|
|Cash at bank and|in|hand||1,259,971||2,043,930|
|||||1,280,933||2,347,620|
|CURRENT LIABILITIES|||||||
|Creditors - amounts||falling due within 1year|10|1,367,480||1,150,603|
|||||1,367,480||1,150,603|
|NET CURRENT (LIABILITIES)/ASSETS|||||(86,547)|1,197,017|
|NET ASSETS|||||25,435,825|27,451,814|
|CAPITAL FUNDS|||||||
|Expendable
endowment|||||25,435,825|27,451,814|
|INCOME FUNDS|||||||
|Unrestricted
funds|||||||
||||||25,435,825|27,451,814|
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|Cash flows fro|m operating|activities:||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||E||
|Net cash used|in operating|activities||(891,302)|(955,266)|
|Cash flows from investing||activities:||||
|Dividends
and|interest|||404,670|267,957|
|Proceeds from|sale ofinvestments|||5,407,447|5,479,468|
|Purchase of investments||||(5,557,901)|(5,499,135)|
|Net cash provided
by investing
activities||||254,216|248,290|
|Change
in cash|and cash equivalents||in the year|(637,086)|(706976)|
|Cash and cash|equivalents|at the beginning ofthe year||3,744,614|4,451,590|
|Cash and cash|equivalents|atthe end|ofthe year|3,107,528|3,744,614|
|Net movement|in funds as|per the Statement of Financial Activites||(2,015,989)|1,009,716|
|Dividends
and|interest|||(404,670)|(267,957)|
|Losses/(gains)|on investments|||1,027,637|(1,141,304)|
|Depreciation
charges||||2,115|3,475|
|Decrease/(increase)
in debtors||||282,728|(217,231)|
|Increase/(decrease)
in creditors||||216,877|(341,965)|
|Net cash used|in operating|activities||(891,302)|(955,266)|
||||||Changein|
|---|---|---|---|---|---|
||||2023|2022|year|
|Cash|at bank and in hand||1,259,971|2,043,930|(783,959)|
|Cash|held by investment|manager for reinvestment|1,847,557|1,700,684|146,873|
||||3,107,528|3,744,614|(637,086)|
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||Income received on investments
may be analysed
a|sfollows:||||
|---|---|---|---|---|---|
||||2023||2022|
|||f||||
||Fixed interest|1,912||5,223|2|
||UKequities|97,205|27|114,763|43|
||Overseas equities|119,631|33|61,204|23|
||Alternatives|143,666|40|83,720|32|
|||362,414|100|264,910||
|4.|GRANTS PAYABLE|||||
||||2023||2022|
||Reconciliation
ofgrants payable:|||||
||Commitments
at6April 2022||1,037,732||1,359,997|
||Grants not accrued at 6April 2022|499,&70||401,832||
||Grants approved
in the year|1,921,890||1,556,990||
||Grants cancelled or refunded|(7,000)||||
||Grants not accrued at5April 2023|(152,500)||(499,870)||
||Grants payable forthe year||2,262,260||1,458,952|
||Grants paid during the year||(2,058,081)||(1,781,217)|
||Commitments
at5April 2023||1,241,911||1,037,732|
||Commitments
at 5April 2023are payable as follows:||f|||
||Within one year (note 10)||1,241,911||1,037,732|
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|ALLOCATION OFSUP|PO|RT COSTS||||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||Grant-|Governance|Total|Total|
|||||making||Allocated|Allocated|
|||||f||f|f|
|Staff costs||||155,619|1,704|157,323|120,214|
|Share ofjoint office|costs|||55,094||55,094|58,287|
|Direct costs including|travel|||2,664||2,664|2,823|
|Legal and professional||fees||7,948||7,948|8047|
|Advisors'
honoraria||||20,000||20,000|20000|
|Consultancy||||5,000||5,000||
|Depreciation||||2,115||2,115|3,475|
|Auditor's
remuneration*|||||8,160|8,160|7,442|
|||||248,440|9,864|258,304|220,288|
|*Auditor's remuneration||for 2023|excluding VATwas f6,800(2022:f6,200).|||||
|Included
within support||costs for|2022were governance|costs totalling f8,942.This was comprised ofstaff|||costs of|
|f1,500and auditor's|remuneration||off7,442.|||||
|ANALYSIS OFSTAFF COSTS||||||||
|||||||2023|2022|
|||||||f|f|
|Salaries and wages||||||127,911|97,887|
|Social security costs||||||16,149|11,449|
|Other pension costs||||||13,263|10,878|
|||||||157,323|120,214|
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|7.|TANGIBLE FIXED|ASSETS|||||
|---|---|---|---|---|---|---|
||Leasehold Improvements||||||
||||||2023|2022|
||Cost||||||
||At 6April 2022||||28,402|28,402|
||Disposals||||(13,600)||
||Cost at 5April 2023||||14,802|28,402|
||Depreciation||||||
||At 6April 2022||||17,830|14,355|
||Disoosals||||(13,600)||
||Charge forthe year||||2,115|3,475|
||At 5April 2023||||6,345|17,S30|
||Net Book Value||||||
||At 5April 2023||||8,457|10,572|
||Net BookValue||||||
||At 5April 2022||||10,572|14,047|
|8.|FIXEDASSET INVESTMENTS||||||
||||||2023|2022|
||||||E||
||Market value 6April 2022||||24,543,541|23,382,570|
||Less: Disposals at proceeds||||(5,407,447)|(5,479,468)|
||Add: Acquisitions|at cost|||5,557,901|5,499,135|
||Net (losses)/gains|on investments|||(1,027,637)|1,141,304|
||Market value 5April 2023||||23,666,358|24,543,541|
||Investment
cash||||1,847,557|1,700,684|
||Total investments||||25,513,915|26,244,225|
||The investments|held as at5April 2023were as follows:|||||
|||||2023||2022|
||||Cost|Market|Cost|Market|
|||||Value||Va/ue|
||||E|E|E|E|
||Fixed interest||5,179,829|4,842,253|3,928,762|3,859,334|
||UK equities||2,879,561|4,109,100|2,835,420|4,449,820|
||Overseas equities||9,916,543|12,115,410|10,860,493|14,360,948|
||Alternatives||2,429,302|2,599,595|1,750,936|1,873,439|
||||20,405,235|23,666,358|19,375,611|24,543,541|
##
|NOTES TO THE ACCOUNTS (continued)|NOTES TO THE ACCOUNTS (continued)|NOTES TO THE ACCOUNTS (continued)|||||
|---|---|---|---|---|---|---|
|9. DEBTORS|||||||
||||||202$|2022f|
|Gift Aid debtor||||||275,000|
|Accrued Income|||||20,962|28,690|
||||||20,962|303,690|
|10.CREDITORS - amounts|falling due within one||year||||
||||||2023
f|2022f|
|Grants payable within|one year||||1,241,911|1,037,732|
|Professional
charges|||||12,361|9,452|
|Investment
management||fee|||22,819|22,981|
|Other creditors|||||90,389|80438|
||||||1,367,480|1,150,603|
|11.ANALYSIS OF NETASSETS||BHWEEN FUNDS|||||
|||||Unrestricted|Expendable|Totals|
|||||Funds|Endowment|2023|
|||||f|f||
|Fund balances at 5April 2023are represented|||by:||||
|Tangible fixed assets|||||8,457|8,457|
|Investments|||||25,513,915|25,513,915|
|Current assets||||1,344,661|(63,728)|1,280,933|
|Current liabilities||||(1,344,661)|(22,819)|(1,367,480)|
|Total net assets|||||25,435,825|25,435,825|
|Movement
in the year|||||||
|Opening balance as at|6April 2022||||27,451,814|27,451,814|
|Total income and endowments||||404,670|1,218,750|1,623,420|
|Cost ofraising funds|||||(91,208)|(91,208)|
|Cost ofgrant-making||||(2,520,564)||(2,520,564)|
|Net losses on investments|||||(1,027,637)|(1,027,637)|
|Transfers between funds||||2,115,894|(2,115,894)||
|Closing balance as at 5|April 2023||||25,435,825|25,435,825|
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|||Unrestricted|Expendable|Totals|
|---|---|---|---|---|
|||Funds|Endowment|2022|
|Fund balances at5April 2022are represented|by:||||
|Tangible fixed assets|||10,572|10,572|
|Investments|||26,244,225|26,244,225|
|Current assets||1,127,622|1,219,998|2,347,620|
|Current liabilities||(1,127,622)|(22,981)|(1,150,603)|
|Total net assets|||27,451,814|27,451,814|
|Movement
in the year|||||
|Opening balance as at 6April 2021|||26,442,098|26,442,098|
|Total income and endowments||267,957|1,375,000|1,642,957|
|Cost of raising funds|||(95,305)|(95,305)|
|Cost ofgrant-making||(1,679,240)||(1,679,240)|
|Net gains on investments|||1,141,304|1,141,304|
|Transfers between
funds||1,411,283|(1,411,283)||
|Closing balance as at 5April 2022|||27,451,814|27,451,814|
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||||Unrestricted|Expendable|Total Funds|
|---|---|---|---|---|---|
||||Funds|Endowment|2022|
|Income and Endowment|from:|||||
|Donations
and gifts||||1,375,000|1,375,000|
|Investments|||264,910||264,910|
|Bank deposit interest|||3,047||3,047|
|Total Income|||267,957|1,375,000|1,642,957|
|Expenditure
on:||||||
|Costofgenerating funds:||||||
|Investment
management||fees||95,305|95,305|
|Charitable
activity:||||||
|Grant-making:||||||
|Grant expenditure|||1,458,952||1,458,952|
|Grant related support|costs||220,288||220,288|
|Total Expenditure|||1,679,240|95,305|1,774,545|
|Net (expenditure)/income|||(1,411,283)|1,279,695|(131,588)|
|before gains on investments||||||
|Net gains on investments||||1,141,304|1,141,304|
|Transfers between funds|||1,411,283|(1,411,283)||
|Net movement
in funds||||1,009,716|1,009,716|
|Reconciliation offunds:||||||
|Total funds brought forward||||26,442,098|26,442,098|
|Total funds carried forward||||27,451,814|27,451,814|
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|Autism|||
|---|---|---|
|A2ndvoice
CIC||31,037|
|Action-attainment|CIC|66,000|
|Assert (B&H)||43,032|
|Brentford
FCCommunity
Sports Trust||75,000|
|En-fold||30,000|
|Project Art Works||38,738|
|Red2Green||55,000|
|20grants up tof20,000were also payable totalling||218,453|
|Disability, Violence and Access tojustice|||
|Bristol Law Centre||91,000|
|Disability
Law Service||184,000|
|Disability Rights
UK||100,000|
|Harrow
Law Centre||154,500|
|Inclusion
London||251,500|
|Inquest||70,000|
|Islington
Law Centre||65,000|
|L&QLiving - Beverley Lewis House||280,000|
|Respond||300,000|
|Somerset &Avon Rape &Sexual Abuse Support (SARSAS)||35,000|
|Stay Safe East||149,000|
|General|||
|Population
Matters||20,000|
|The Sainsbury
Archive||5,000|
|||2,262,260|
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|Autism||||
|---|---|---|---|
|A2ndvoice|CIC||25,000|
|Assert (B&H)|||54,000|
|En-fold|||60,000|
|Project Art Works|||38,738|
|21grants|up tof20,000were also payable totalling||212,489|
|Disability, Violence and Access toJustice||||
|Bristol Law Centre|||144,000|
|Disability|Rights|UK|150,000|
|Inclusion|London||422,000|
|Inquest|||60,000|
|Islington
Law Centre|||43,500|
|Somerset|&Avon|Rape &Sexual Abuse Support (SARSAS)|105,000|
|Stay Safe|East||139,225|
|General||||
|The Sainsbury
Archive|||5,000|
||||1,458,952|