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← The Indigo Trust

2021-04-05-accounts

THE TRUST ANNUAL REPORT 5 APRIL 2021 ThÈ Pe3k 5 Wilton Road London SWIV IAP

I

TE TS PAGE
1 The Trustees' Report 2-12
2 Independent Auditors' Report 13-16
3 StatementofFinancial Activities 17
4 Balance Sheet 18
5 Cash Flow Statement 19
6 Notes to the Accounts 20-27

Trustees
Registered
Office
Principal
Bankers
Solicitors
Auditors
Investment
Advisers
Investment
Powers
Objects		 Francesca PerrinOBE
William PerrinOBE
Dominic Flynn
Sameer Padania (from 3 August 2020)
Sonia Sodha (from23December 2020)
The Peak
5WiltonRoad
LondonSWlVlAP
Karen Everett
PaulLenz
Child&Co
1 Fleet Street
LondonEC4Y18D
Portrait Solicitors
21 Whitefriars Street
LondonEC4Y8JJ
CroweU.K.LLP
55Ludgate Hill
London
EC4M7JW
Cazenave Capital.
12Moorgate
LondonEC2R6DA
Chief Operating Officer
Executive
The Trust Deed empowerstheTrusteestoappointinvestment advisers who
have discretiontoinvest the fundsoftheTrustwithinguidelines established by
theTrustees.
The objectsoftheTrustasgiven intheTrust Deed areforgeneral charitable
purposes.

Grant No Beneficiary Name Period Approved Amount
INDS08 Laws.Africa 1 years 23Jun 2020 £140,000
Purpose: Core unrestricted fundingtocontinuetorunthe
Indigo Platform.
INDS43 AfricanLegalInformation Institute (AfricanLIi) 6 months 24Mar2021 £35,000
Purpose: To support theLIiFundforAfricaoversixmonths.
Total: £175,000
No of Grants: 2
BetterGrantmaking
Grant No Beneficiary Name Period Approved Amount
INDSll 360 Giving 2 years 20Jul2020 £300,000
Purpose: Core unrestricted fundingforFY20-21and FY21-22.
IND542 Global Greengrants FundUK 1 years OSMar2021 £15,000
Purpose: Tosupportthe ShiftthePower Funder Collectiveto
appoint a Curator/facilitator.
Total: £315,000
NoofGrants: 2
Covid-19 Funding
Grant No Beneficiary Name Period Approved Amount
INDSOO Copenhagen Youth Project 1 years 20Apr 2020 £5,000
Purpose: Core unrestricted funding.
INDSOl AccesstoJustice Foundation 1 years 17 Apr 2020 £100,000
Purpose: To be regranted through the Community JusticeFund
asa responsetothe Covid-19 emergency.
IND502 Eyelliance 1 years 17 Apr 2020 £12,313
Purpose: Core unrestricted fundingtosupport EYElliance during
theCovid-19 emergency.
INDSOS RosaFund 1 years 04Jun2020 £200,000
Purpose: Covid-19 Emergency fund dedicatedtoBMEVAWG
organisations.
INDS06 Voice4Change England 1 years 06Jun2020 £125,000
Purpose: Covid-19 Emergency Core unrestricted funding.
IND507 International Lawyers Project 1 years 13Jun2020 £18,782
Purpose: Covid-19 emergency funding - core unrestricted.
IND509 Hive Colab 3 months 03Jul2020 £25,000
Purpose: Core unrestricted fundingtosupportthemthrough
the Covid-19 crisis.
IND513 lkwroWomen's Rights Organisation 1 years 07Sep2020 £25,000
Purpose: Core unrestricted funding during Covid-19 crisis.
IND514 The Angelou Centre 1 years 08Sep2020 £50,000
Purpose: Core unrestricted funding during Covid-19 crisis.
INDSlS Ubuntu Women Shelter 1 years 07Sep2020 £10,000
Purpose: Core unrestricted funding during Covid-19 crisis.
IND517 Latin American Women's Rights Service(LAWRS) 1 years 07Sep2020 £2S,000
Purpose: Core unrestricted funding during Covid-19 crisis.
IND518 Apna Haq 1 years 07Sep2020 £25,000
Purpose: Core unrestricted fundingtosupport itsworkduring
Covid-19 crisis.
IND519 Bawso Ltd 1 years 07Sep2020 £25,000
Purpose: Core fundingtosupport itsworkduring Covid-19
crisis.
INDS20 Southall Black Sisters 1 years 07Sep2020 £25,000
Purpose: Unrestricted core fundingtosupportitsworkduring
the Covid-19 crisis.
IND521 Panahghar 1 years 07Sep2020 £25,000
Purpose: Core unrestricted fundingtosupportitsworkduring
the Covid-19 crisis
IND522 African Caribbean Community Initiative(ACCI) 1 years 07Sep2020 £25,000
Purpose: Core unrestricted fundingtosupport itsworkduring
the Covid-19 crisis.
IND523 African and CaribbeanMentalHealth Service (ACMHS) 1 years 07Sep2020 £25,000
Purpose: Core unrestricted fundingtosupportitsworkduring
the Covid-19 crisis.
IND524 Meridian Wellbeing(formerlyChinese Mental Health 1 years 07Sep2020 £10,000
Association)
Purpose: Core unrestricted fundingtosupport itsworkduring
the Covid-19 crisis.
IND534 Voice4Change England 1 years 14Jan2021 £20,000
Purpose: Further core unrestricted fundingtosupport itswork
duringtheCovid-19 pandemic.
IND535 RosaFund 1 years 14Jan2021 £75,000
Purpose: RosatoregranttoBMEled women's organisations.
IND536 Friends, Families&Travellers 1 years 14Jan2021 £75,000
Purpose: Core unrestricted fundingtosupport itsworkduring
Covid-19.
IND537 The Ubele Initiative 1 years 14Jan2021 £20,000
Purpose: Bespoke Bereavement Support sessionsforBAME
people during pandemic.
IND544 Baobab Foundation 6 months 29Mar2021 £55,000
Purpose: Core unrestricted fundingtosupport Baobab
Foundation's research and design phase.
Total: £1,001,095
No of Grants: 23
Information Technologies: Transparency& Accountability
Grant No Beneficiary Name Period Approved Amount
IND503 DearSANPC 1 years 15 May 2020 £40,000
Purpose: Unrestricted core funding.
IND512 OpenUp - (formerly knownasCodeforSouth Africa) 1 years 26 Aug 2020 £10,000
Purpose: Redevelopmentofanalysistooland refreshing datato
supportjournalists' work.
IND525 ParliamentaryMonitoringGroup 1 years 18Sep2020 £49,700
Purpose: Core unrestricted fundingtoredevelop parliamentary
monitoringwebsites.
IND526 DearSANPC 1 years 01Dec2020 £20,000
Purpose: Core fundingforoperating costs.
IND533 Hive Colab 1 years 21Dec2020 £10,000
Purpose: Core funding.
Total: £129,700
No of Grants: 5

Grant No BeneficiaryName Period Approved Amount
IND504 The Sainsbury Archive 5 years 27 May 2020 £25,000
Purpose: Core funding towards annual running costs.
IND527 Voices 1 years 04Dec2020 £2,000
Purpose: Core unrestricted funding.
IND528 Social SpiderCIC 1 years 10Dec2020 £2,000
Purpose: Core fundingforTottenham CommunityPress.
IND529 Voyage Youth 1 years 15Dec2020 £2,000
Purpose: Core unrestricted funding.
IND530 It's Your Choice Limited 1 years 14Dec2020 £2,000
Purpose: Core unrestricted funding.
IND531 Greenwich Refugee Aid and Community Enterprise 1 years 15Dec2020 £2,000
Purpose: Core unrestricted funds.
IND532 CIS'ters 1 years 14Dec2020 £2,000
Purpose: Core unrestricted funding.
IND538 New Philanthropy Capital 1 years 05Feb2021 £25,000
Purpose: To support its Open Philanthropy Project.10%ofthis
grant award ie £2,500istobe unrestricted, towards
overheads.
IND540 The Wellspring 1 years 01_Mar2021 £2,000
Purpose: Core unrestricted funding.
IND541 lcolyn Smith Foundation 1 years 02Mar2021 £2,000
Purpose: Unrestricted fundingtosupports itsworkwiththe
homeless and vulnerable in Oxford.
Total: £66,000
No of Grants: 10
Trust Category: VisualImpairment
Grant No BeneficiaryName Period Approved Amount
IND510 London SchoolofHygiene&Tropical Medicine 1 years 16Jul 2020 £57,500
Purpose: Unrestricted core fundingtocover various apsectsof
ICEH'swork.
IND539 London SchoolofHygiene&Tropical Medicine 1 years 19Feb2021 £162,S58
Purpose: To develop and upgradetheRapid Assessmentof
Avoidable Blindness survey tool,methodologyand
website.
Total: £220,058
NoofGrants: 2
Total grants approved: £1,906,852
Total noofgrants approved: 44

29 November 2021

Notes
Income andEndowmentfrom:
Donationsandgifts
Investments
3
Bank interestandshorttermdeposits
Grants
Total Income
Expenditure on:
Raising funds:
Investmentmanagementfees
Charitable activity:
Grant-making:
Grantexpenditure
4
Grant relatedsupportcosts
5
Total Expenditure
Netoperating surplus/(deficit)
Net gains/(losses) on investments
8
Transfersbetweenfunds
11
Netmovementin funds
Reconciliationoffunds:
Total fundsbroughtforward
Total funds carried forward		 Unrestricted
Expendable
Total Funds
Funds
Endowment
2021
£
£
£
2,489,464
2,489,464
137,506
137,506
15,025
15,025
152,531
2,489,464
2,641,995
27,457
27,457
2,034,852
2,034,852
342,866
342,866
2,377,718
27,457
2,405,175
(2,225,187)
2,462,007
236,820
1,850,707
1,850,707
2,225,187
(2,225,187)
2,087,527
2,087,527
9,919,554
9,919,554
12,007,081
12,007,081		 Total Funds
2020
£
4,187,500
177,498
32,661
2,000
4,399,659
26,745
3,814,119
342,450
4,183,314
216,345
{1,072,457)
(856,112}
10,775,666
9,919,554
FIXEDASSETS
Tangible fixedassets
Investments
CURRENTASSETS
Debtors
Cashatbankandinhand
Shorttermdeposits
CURRENTLIABILITIES
Creditors-amountsfallingduewithin 1 year
NETCURRENTASSETS
NETASSETS
CAPITALFUNDS
Expendableendowment
INCOMEFUNDS
Unrestrictedfunds		 Notes 2021
£
17,813
9,374,577
9,392,390





2,614,691
12,007,081
12,007,081
12,007,081		 2020
7
8
9
10
11
11		 £
272,944
2,503,510
500,115		 £
5,540
7,750,066
7,755,606
41,294
1,172,835
1,328,182
3,276,569
661,878		 2,542,311
378,363
2,163,948
9,919,554
9,919,554
9,919,554

Cash flowsfromoperating activities:
Netcash provided by operating activities
Cash flowsfrominvesting activities:·
Investment additions
Sale of investments
Dividends and Interest
Netcash provided by investing activities
Changeincash andcashequivalentsintheyear
Cash andcashequivalentsatthebeginningoftheyear
Cash andcashequivalentsattheendoftheyear
Reconciliationofnetcashprovided by operating activities
Netmovementinfunds (as pertheStatementof Financial Activities)
(Gains)/losses on investments
Dividendsandinterest
Depreciation charges
(Increase)indebtors
Increaseincreditors
Fixedassetadditions		 2021
£
111,048
(4,643,073)
4,691,448
165,364
213,739
324,787
4,450,739
4,775,526
2021
£
2,087,527
(1,850,707)
(165,364)
5,277
(231,650)
283,515
(17,550)
111,048		 2020
£
166,952
(396,550}
321,350
188,352
113,152
280,105
4,170,634
4,450,739
2020
£
(856,112}
1,072,457
(188,353}
2,770
(16,516}
152,706
166,952
Cashatbankandshorttermdeposits
Cash balances held by investmentmanagerfor reinvestment		 2021
Changein
2020
year
3,003,625
1,771,901
2,501,017
502,608
1,949,722
(177,821}
4,775,526
4,450,739
324,786

Government fixed interest
Other fixed interest
UKequities
Overseas equities
Alternatives
4.GRANTSPAYABLE
Reconciliationofgrants payable:
Commitments at 6 April 2020
Grantsnotaccrued at 6 April 2020
Grants approved in the year
Grants cancelled
Grantsnotaccruedat5 April 2021
Grants payablefortheyear
Grants paid duringtheyear
Commitmentsat5 April 2021
Commitmentsat5 April 2021 are payableasfollows:
Withinone year (note 10)		 2021 2020
£
264
7,066
71,258
10,394
48,524		 %
£
0
4,600
5
6,568
52
91,816
7
27,569
35
46,945		 %
3
4
52
15
26
137,506 100
177,498		 100
2021 2020
£
195,000
1,906,852
(2,000}
(65,000)		 £
£
305,000
4,010,244
{1,125)
{195,000}
2,034,852
(1,787,295)
552,558
2021
552,558		 £
90,625

3,814,119
{3,599,744)
305,000
2020
305,000

The grants payable in the year consistofthefollowing:
£
AccesstoJustice- International
AfricanLegalInformationInstitute (African LIi) 95,000
Laws.Africa 140,000
£
AccesstoJustice- UK
Cumbria Law Centre 50,000
EalingLawCentre 50,000
Southwark Law Centre 20,000

GRANTSPAYABLEcontinued £
Information Technologies: Transparency& Accountability
DearSANPC 60,000
Hive Colab 10,000
OpenUp- (formerly knownasCodeforSouth Africa) 10,000
ParliamentaryMonitoringGroup 49,700
Trustees Discretionary
Abingdon Damascus Youth Project 10,000
CIS'ters 2,000
Copenhagen Youth Project S,000
Greenwich Refugee Aid and Community Enterprise 2,000
lcolyn Smith Foundation 2,000
It's Your Choice Limited 2,000
New Philanthropy Capital 25,000
Social SpiderCIC 2,000
The Rainbow Project (2,000}
The Sainsbury Archive 10,000
The Wellspring 2,000
Voices 2,000
Voyage Youth 2,000
VisualImpairment
London SchoolofHygiene&Tropical Medicine 220,057
Total grants payable per StatementofFinancial Activities 2,034,852

Staffcosts
Shareofjointofficecosts
Direct costs includingtravel
Legal and professional fees
Depreciation
Auditors'remuneration		 Grant-
Making
Governance
2021
2020
Total
Total
Allocated
Allocated
£
233,166
55,080
11,517
28,245
5,277
£
2,215
7,366
£
£
235,381
239,364
55,080
57,698
11,517
24,252
28,245
14,436
5,277
2,770
7,366
3,930
333,285
9,581
342,866
342,450

ANALYSISOFSTAFFCOSTS
Wages and salaries
SociaI security costs
Other pension costs		 2021
2020
£
£
191,429
194,424
21,702
21,595
22,250
23,345
235,381
239,364

TANGIBLEFIXEDASSETS
LeaseholdImprovements
Cost
At 6 April 2020
Additions
At 5 April 2021
Depreciation
At 6 April 2020
Chargeforthe year
At 5 April 2021
NETBOOKVALUE
At 5 April 2021
NETBOOKVALUE
At 5 April 2020		 2021 2020
£
27,700
17,550		 £
27,700
45,250 27,700
22,160
5,277
27,437
17,813
5,540		 19,390
2,770
22,160
5,540
8,310

Marketvalue 6 April 2020
Less: Disposalsatproceeds
Add: Acquisitionsatcost
Net gains/(losses) on investments
Marketvalue 5 April2021
Investmentcash
Totalinvestments		 2021
2020
£
£
5,800,344
6,797,601
(4,691,448)
{321,350}
4,643,073
396,550
1,850,707
{1,072,457}
7,602,676
5,800,344
1,771,901
1,949,722
9,374,577
7,750,066
Governmentfixed interest
Other fixed interest
UKequities
Overseas equities
Alternatives		 2021
2020
Cost
Market
Value
£
£
183,516
264,634
325,239
317,234
1,994,308
2,562,083
2,443,419
3,150,331
1,169,599
1,308,394
6,116,081
7,602,676
Cost
Market
Value
£
£
183,516
267,449
410,790
386,260
2,222,688
2,185,183
1,197,184
1,826,102
1,024,183
1,135,350
5,038,361
5,800,344

Income tax recoverable
Investment sales
Prepayments & accrued income
Other debtors		 2021
2020
153
262,856
10,088
21,654
19,487
272,944
41,294

Grants payablewithinone year
Professional charges
Investment management fee
Othercreditors		 2021
2020
£
£
552,558
305,000
23,746
8,151
7,390
6,579
78,184
58,633
661,878
378,363

Fund balancesat5April2021arerepresentedby:
Tangible fixed assets
Investments
Current assets
Current liabilities
Total net assets
Movementintheyear
Opening balance asat5April2020
Total income andendowments
Cost of raising funds
Cost of grant-making
Net gainsoninvestments
Transfersbetweenfunds
Closing balance asat5April2021		 Unrestricted
Restricted
Funds
Funds
Expendable
Totals
Endowment
2021
£
£
654,488
{654,488)
£
£
17,813
17,813
9,374,577
9,374,577
2,622,081
3,276,569
{7,390)
{661,878)
12,007,081
12,007,081
152,531
(2,377,718)
2,225,187
9,919,554
9,919,554
2,489,464
2,641,995
(27,457)
(27,457)
(2,377,718)
1,850,707
1,850,707
(2,225,187)
12,007,081
12,007,081
Fund balancesat5April2020arerepresentedby:
Tangible fixed assets
Investments
Current assets
Current liabilities
Totalnetassets
Movementintheyear
Opening balance asat5April2019
Total income andendowments
Costofraising funds
Cost of grant-making
Net gainsoninvestments
Transfersbetweenfunds
Closing balance asat5April2020		 Unrestricted
Funds
Restricted
Expendable
Totals
Funds Endowment
2020
£
371,784
(371,784)
£
£
£
5,540
5,540
7,750,066
7,750,066
2,170,527
2,542,311
(6,579)
{378,363)
9,919,554
9,919,554
210,159
(4,154,569)
3,944,410
10,775,666
10,775,666
2,000
4,187,500
4,399,659
(26,745)
(26,745)
(2,000)
(4,156,569)
(1,072,457)
(1,072,457)
(3,944,410)
9,919,554
9,919,554

Income andEndowmentfrom:
Donations and gifts
Investments
Bankdepositinterestandotherincome
Grants
Total Income
Expenditure on:
Raising funds:
Investment management costs
Charitable activity:
Grant-making:
Grantexpenditure
Grantrelatedsupportcosts
Total Expenditure
Netoperating (deficit)/surplus
Lossesoninvestment assets
Transfers between funds
Netmovementin funds
Reconciliationoffunds:
Total fundsbroughtforward
Total funds carriedforward		 Unrestricted
Restricted
Expendable
Total Funds
Funds
Funds
Endowment
2020
£
£
£
£
4,187,500
4,187,500
177,498
177,498
32,661
32,661
2,000
2,000
210,159
2,000
4,187,500
4,399,659
26,745
26,745
3,814,119
3,814,119
340,450
2,000
342,450
4,154,569
2,000
26,745
4,183,314
(3,944,410)
4,160,755
216,345
{1,072,457)
(1,072,457)
3,944,410
(3,944,410}
{856,112)
{856,112)
10,775,666
10,775,666
9,919,554
9,919,554