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**_Mar**2021|£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|