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|---|---|---|---|---|
|Reference and administrative||details ofthe Foundation,|its Trustees and advisers||
|Trustees'
report||||2-5|
|Independent
auditors'|report|on the financial statements||6-9|
|Statement offinancial|activities|||10|
|Balance sheet|||||
|Notes to the financial|statements|||12-24|
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|Trustees||GES Robinson||
|---|---|---|---|
|||HP Sloane||
|||D Fisher||
|Charity registered||||
|number||1068286||
|Principal office||Unit 4 Hill Farm||
|||Kirby Road||
|||Kirby Bsdon||
|||Norwich||
|||Norfolk||
|||NR14 7DU||
|Independent|auditors|Larking Gowen LLP||
|||Chartered
Accountants||
|||Statutory
Auditors||
|||1 Claydon
Business Park||
|||Great Blakenham||
|||Ipswich||
|||IP6 ONL||
|Investment|managers|UBS Wealth Management||
|||Sloane Robinson|LLP|
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|||||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
||||Note|2021
6|2021
6|2021f|2020|
|Income and endowments||from:||||||
|Investments||||151,491||151,491|193,302|
|Total income and|endowments|||151,491||151,491|193,302|
|Expenditure
on:||||||||
|Investment
management||costs|||26,063|26,063|48,703|
|Grant making||||711,807||711,807|406,946|
|Total expenditure||||711,807|26,063|737,870|455,649|
|Net expenditure
before||net gains on||||||
|investments||||(560,316)|(26,063)|(586,379)|(262,347)|
|Net gains on investments|||||3,754,816|3,754,816|658,464|
|Net (expenditure)/income||||(560,316)|3,728,753|3,168,437|396,1f7|
|Transfers
between|funds||14|560,316|(560,316)|||
|Net movement
in|funds|before other||||||
|recognised
gains/(losses)|||||3,168,437|3,168,437|395,117|
|Other recognised|gains/(losses):|||||||
|Other gains/(losses)|||||42,081|42,081|(251,301)|
||||||3,210,518|3,210,518|144,816|
|Net movement
in|funds|||||||
|Reconciliation
of|funds:|||||||
|Total funds brought|forward||||17,267,114|17,267,114|17,122298|
|Net movement
in funds|||||3,210,518|3,210,518|144,816|
||||||20,477,632|20,477,632|17,257,114|
|Total funds carried forward||||||||
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|||||||28 February||29February|
|---|---|---|---|---|---|---|---|---|
|||||||2021||2020|
|||||Note||6|||
|Fixed assets|||||||||
|Investments||||10||19,464,591||16,427,740|
|||||||19,464,591||16,427,740|
|Current assets|||||||||
|Debtors||||11|375,632||||
|Cash at bank and in hand|||||689,985||1,206,421||
||||||1,065,617||1,206,421||
|Creditors: amounts||falling|due within one||||||
|year||||12|(52,576)||(367,047)||
|Net current|assets|||||1,013,041||839,374|
|Total assets|less current||liabilities|||20,477,632||17,267,114|
|Total net assets||||||20,477,632||17,267,114|
|Charity funds|||||||||
|Endowment|funds|||14||20,477,632||17,267,114|
|Total funds||||||20,477,632||17,267,114|
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||||As restated|
|---|---|---|---|
||Unrestricted|Total|Total|
||funds|funds|funds|
||2021f|2021
f.|2020f|
|UK listed investments|35,392|35,392|34,700|
|Non UK listed investments|114,986|114,986|149,102|
|Bank interest receivable|1,113|1 113|9,500|
||151,491|151,491|193,302|
|Total 2020as restated|193,302|193,302||
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||||Endowment|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021f|2021f|2020|
|Management|fees||8,779|8,779|18,166|
|Research investment||fees|17,284|17,284|30,537|
||||26,063|26,063|48,703|
|Total 2020|||48,703|48,703||
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|||Grant||||
|---|---|---|---|---|---|
|||funding
of|Support|Total|Total|
|||activities|costs|funds|funds|
|||2021|2021|2021|2020|
|||6|6|||
|Grant making||547,264|124,163|671,427|376,347|
|Governance|costs||40,380|40,380|30,599|
|||547,264|164,543|711,807|406,946|
|Total2020||297,681|109,265|406,946||
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|||Charitable||Total|Total|
|---|---|---|---|---|---|
|||activities|Governance|funds|funds|
|||2021
f|2021
6|2021
6|2020|
|Professional|costs|11,066|31,050|42,116|27,252|
|Consultancy|costs|23,919||23,919|12310|
|Accountancy|fees|4,225|4,225|8,450|10,600|
|Audit fees|||5,105|5,105|4,860|
|Bank charges|and interest|3,838||3,838|3,087|
|Exchange losses||81,115||81,115|51,156|
|||124,163|40,380|164,543|109,265|
|Total 2020||78,666|30,599|109,265||
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|Grants payable||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||28 February|29February|
|||||||||2021
6|2020
f|
|Grant making||||||||547,264|297,681|
|The total grants|paid to institutions||||during||the year was as follows:|||
|||||||||28 February|29 February|
|||||||||2021|2020|
|||||||||6||
|Eagle Height Academy||||||||550||
|Future Hope UK||||||||5,000||
|Karta Initiative||||||||100,000|40,000|
|Keble Astrophysics
Scholarship|||||||||7,500|
|Keble College, Oxford||||||||124,500|73,250|
|Lincoln College,|Oxford|||||||147,900|70,000|
|Our Lady of Visitation||Boarding||School, Kenya|||||700|
|Prospero World|||||||||11,000|
|Royal Brompton|& Harefield||Hospital|||Charity|||25,000|
|RSPB||||||||17,750|17,750|
|United World Schools||||||||46,660|47,481|
|University
of Oxford Psychiatry||||Department||||95,300||
|Veerni Foundation||||||||9,604||
|||||||||547,264|292,581|
|The total grants|paid to individuals||||during the year was as follows:|||||
|||||||||28 February|29 February|
|||||||||2021|2020|
|Other individuals|||||||||5,000|
||||||||||5,000|
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||||||2021f|2020|
|---|---|---|---|---|---|---|
|Fees
annual|payable to the Foundation's
accounts||auditor|for the audit of the Foundation's|5,105|4,660|
|Fees|payable|to the Foundation's|auditor|in respect of:|||
|All non-audit||services not included|above||4,410|4,200|
##
|||||||||28 February|29February|
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021
6|2020
f|
|Financial|assets|||||||||
|Financial|assets|measured||at fair value through||income and expenditure||19,833,642|16,427,740|
|||||||||28 February|29Febnrary|
|||||||||2021
6|2020
f|
|Financial|liabilities|||||||||
|Derivative|financial||instruments
measured||at fair value through||income|||
|and expenditure||held as part ofa trading|||portfolio||||331,769|
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||Listed|Unlisted||
|---|---|---|---|
||investments|investments|Total|
||6|6|5|
|Cost or valuation||||
|At 1 March 2020|12,457,186|3,970,554|16,427,740|
|Additions|27,190,239||27,190,239|
|Disposals|(25,653,391)|(1,126,300)|(26,779,691)|
|Revaluations|1,922,493|703,810|2,626,303|
|At 28 February 2021|15,916,527|3,548,064|19,464,591|
|The Fixed Asset Investments|market values may be analysed as follows:|||
|||28 February|29February|
|||2021|2020|
|||8||
|I isted in the UK|||365,600|
|Listed outside the UK||15,916,527|12091,586|
|Unlisted
outside the UK||3,548,064|3,970,554|
##
|Debtors|||
|---|---|---|
||28 February|29February|
||2021
f|2020|
|Due within one year|||
|Other debtors|375,632||
||375,632||
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|||28|February|29|February|
|---|---|---|---|---|---|
||||2021||2020|
||||5|||
|Other|creditors||52,576||367,047|
|13.|Analysis|ofnet|assets|between|funds|||
|---|---|---|---|---|---|---|---|
||Analysis|ofnet|assets|between|funds|- current|year|
|Analysis ofnet assets between funds - current ye|ar||
|---|---|---|
||Endowment|Total|
||funds|funds|
||28 February|28 February|
||2021|2021|
||5|5|
|Fixed asset investments|19,464,591|19,464,591|
|Current assets|1,065,617|1,065,617|
|Creditors due within one year|(52,576)|(52,576)|
|Total|20,477,632|20,477,632|
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|Analysis of net assets between funds - prior year|||
|---|---|---|
||Endowment|Total|
||funds|funds|
||29February|29February|
||2020|2020|
||5||
|Fixed asset investments|16,427,740|16,427,740|
|Current assets|1,206,421|1,206,421|
|Creditors due within one year|(367,047)|(367,047)|
||17,267,114|17,267,114|
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|Statement offun|ds - prior year||||||
|---|---|---|---|---|---|---|
||Balance at|||||Balance at|
||1 March|||Transfers|Gains'|29 February|
||2019f|Income|Expenditure|inlout
6|(Losses)|2020
f|
|Unrestricted|||||||
|funds|||||||
|General Funds-|||||||
|all funds||193,302|(406,946)|213,644|||
|Endowment|||||||
|funds|||||||
|Endowment|||||||
|Funds - all funds|17,122,298||(48,703)|(213,644)|407,163|17,267,114|
|Total offunds|17,122,298|193,302|(455,649)||407,163|17,267,114|
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|Net gains/(|losses)
on in|vestme|nts||||
|---|---|---|---|---|---|---|
||||||28 February|29February|
||||||2021|2020|
||||||f||
|Foreign exchange gains/(losses)|||on investments|held at year end|(1,268,453)|459,833|
|(Loss)/gain|on foreign exchange||forward contracts||42,081|(251,301)|
|Gain/(loss)|on revaluation|of investments|||3,894,755|(979,512)|
|Gain/(loss)|on disposal of|investments|||1,128,514|1,178,143|
||||||3,796,897|407,163|