2021-04-30-accounts

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Southampton Row Trust Limited (operating as CAF American Donor Fund)

Charity Registration No: 1079020

Company Registration No: 03900842 (England and Wales)

SOUTHAMPTON ROW TRUST LIMITED (operating as CAF American Donor Fund)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2021

CHARITY INFORMATION, TRUSTEES AND ADVISORS

��

25 Kings Hill Avenue National Westminster Bank plc Kings Hill 214 High Holborn West Malling London Kent ME19 4TA WC1V 7BX

Telephone: +44 (0)3000 123 150 Email: cadf@cafonline.org ��

��

1079020

�� 03900842

��

Neil Heslop OBE, Chair (appointed, 20 October 2020) �� Mike Dixon Mark Greer (appointed 25 June 2021) Ted Hart Bridgit Richards (appointed 28 August 2020, resigned 25 June 2021) David Stead (resigned 31 May 2020)

��

Deloitte LLP Hill House �� London EC4A 3TR

Kate Mayor

�� for England and Wales. The charity operates under the name of CAF American Donor Fund.

��

The Trustees present their report, incorporating the strategic report ��

��

�� by its Memorandum and Articles of Association. The charity operates under the name of CAF American Donor Fund. The directors are collectively referred to as the Trustees in �� year, and as at the date of signing, are noted above.

In this report

3 Chair’s report
4 Strategic report
6 Structure, governance and management
8 Statement of Trustees’ responsibilites
9 Independent auditor’s report
12 ��
13 Balance sheet
14 ��
15 ��

CADF | ��

CHAIR’S REPORT

I make this report at the end of an extraordinary year ��and one in which our donors into the CAF ��

�� ��

£73.8m ��

��

In many respects the CAF American �� of the entire Charities Aid Foundation. �� ensure they have dedicated expertise on hand to assist in their giving journey, increasingly complemented by �� the best possible service. We have �� the amount of money that has been donated by them over the past year.

Our deep expertise in the regulatory and tax environment around cross�� taxpayers turn to the CAF American �� through their giving. This support extends to people and charities as ��

�� economies. On their agenda, led by the �� global approach to solving some of �� continue to face the instability of ��

That is a sentiment that speaks to the motivation of so many of the donors �� Donor Fund. Regardless of the cause they are eager to support, be it higher education, global health, cultural institutions or tackling the climate emergency and social inequalities, �� are found in coming together and that those fortunate enough to be in their ��

It is that ethos, that commitment �� Donor Fund to deliver 1,352 grants �� £73.8 million. Moreover, the amount �� granting has increased to £83.4 million from £79.5 million in the previous year.

Looking ahead, and considering the �� and services and ensuring they �� members at every stage in their giving.

�� Kingdom have a long shared history �� doubt that our shared determination ��

�� Chair

CADF | ��

STRATEGIC REPORT

The charity’s objectives and activities contribute to ��

��

�� track their donations and grant suggestions. Every donor has a named contact in our specialist team to provide expert support and �� The charity carries out ongoing detailed due diligence on all grant recipients, providing ��

There are no plans to alter the charity’s objectives and operations in the foreseeable future.

The Trustees’ objective is to achieve long-term ��

��

�� from 407 in the preceding year to 487. The value �� from £79.5m in the prior year. In addition, the ��

£83.4m

�� remotely. At the time of signing this report the �� organisations impacted by the coronavirus.

��

�� (DAFs) and Donor Advised Gifts (DAGs) �� being credited to Premier Donor Advised Funds �� credited to the General Fund. Grants paid out of DAF and DAG designated funds amounted to ��

�� the year and this trend is expected to continue. Therefore, although the costs of charitable activities fell from £512,000 in 2020 to £489,000 in 2021, the expectation is for further investment in the charity’s operational resilience to lead to an increase in costs in the year ahead.

As a result of the recovery in global investment markets from the initial negative impact of the coronavirus pandemic, gains on investments held by the charity to support medium- and long-term giving amounted to £4.2m during the ��

Donations to CADF

CADF | ��

STRATEGIC REPORT

�� arising upon their translation to sterling (the �� charity reported a gain of £1.2m upon translation �� charity reported a loss of £2.0m upon translation.

��

The Trustees’ objective for the coming year ��

As described earlier in this report, the charity ��

��

The Trustees have a risk management strategy ��

[��] ��
[The establishment of systems and procedures ] ��
[The implementation of procedures designed ] to minimise any potential impact on the charity should those risks materialise.

�� risk and market risk.

��

Credit risk is the risk of loss as a result of a failure of a counterparty to meet obligations as they fall �� approved by the Investment Advisory Committee ��

Financial investments held in respect of �� approved by the Investment Advisory Committee of CAF. Donors plan donations by reference to �� assets held for their PDAF.

�� by investing primarily in pooled investment funds.

��

Liquidity risk is the risk that the charity does not �� obligations as they fall due.

The charity’s principal obligations relate to grants �� of anticipated future income.

�� anticipated liquidity requirements to fund grants. Should additional liquidity be required to fund donations, investments are disposed of. In the event of a shortfall in anticipated proceeds, the ��

��

Market risk is the risk from adverse movements in external markets including changes in investment values and foreign currency ��

PDAFs are invested to fund long-term philanthropic goals of donors. The value �� charity, but does not impact the level of reserves.

The charity holds bank balances principally �� usually arise as a result of donations received ��

��

The charity continues to monitor the developments surrounding the global pandemic. There remain uncertainties regarding the �� donations received and investment income. �� of uncertainty and potential mitigating actions �� reducing the level of controllable costs.

CADF | ��

STRUCTURE, GOVERNANCE AND MANAGEMENT

�� and provide a range of services to donors and to other charities.

��

�� relating to gifts to charities.

�� and remove the members of CAF America at any time and accordingly CAF is the charity’s ultimate controlling entity.

Both CAF and CAF America are charitable entities and provide a range of services to donors and ��

The charity’s Trustees are appointed by its existing Trustees or by the Board of Directors of CAF �� understanding of the charity and their responsibilities. They are then required to complete training at regular intervals throughout their trusteeship.

The Trustees delegate management responsibilities to CAF. This delegation is controlled by requiring regular reporting to the Board of Trustees.

The charity’s Trustees are committed to high standards of governance. In addition to approving donor grant suggestions and assessing charity �� statements and internal control.

None of the Trustees has an interest in the shares of the company or in any associated entity.

During the year the Trustees took out trustees’, ��

In carrying out their duties under s172(1) (a) to (f) �� regard to both the short- and long-term impact �� and the environment.

The charity is conscious of its impact on the �� schemes, paper saving initiatives and a range of �� travel footprint.

��

The charity’s authorised share capital of 100 ��

The charity’s regulations state that no dividends shall be paid to shareholders. They also preclude shareholders from participating in the distribution of any remaining property should the charity be ��

��

The aim of the charity is to encourage, support and �� and distribution of charity funds. The activities �� carrying out exclusively charitable activities.

�� and in planning future activities and setting the grantmaking policy, the Trustees paid due regard to the guidance issued by the Charity Commission, �� Revenue Services.

Fundraising

��

�� giving by enabling donors liable for tax in both the �� countries on their charitable giving. Donors �� organisations carrying out charitable activities ��

CADF | ��

STRUCTURE, GOVERNANCE AND MANAGEMENT

�� for grantmaking guidance issued by the Charity �� Department of the Treasury and Internal Revenue Service. If it is considered that a donor’s suggestion �� steps are taken to ensure that the funds are paid ��

�� given, and the achievements made, to monitor the ��

Funds received to support grantmaking are held �� to a level equal to the funds already contributed �� in anticipation of future income.

��

The charity’s policy is to maintain, but not exceed, an appropriate level of reserves to support the activities of the charity, taking into account the ��

The policy and determination of the required level �� by Trustees.

�� Trustees consider the risks inherent in the charity’s activities including operating risk, credit risk, �� exposed. They also consider the charity’s operating environment, including regulatory changes that may impact the required level of reserves.

The free reserves of the charity are determined as �� designated for future grantmaking. Funds received �� £87.1m (2020: £75.5m) of the charity’s unrestricted �� £1,255,000 (2020: £828,000).

This level of free reserves is considered by the Trustees to be adequate to meet their plans for ��

��

In order to assess the appropriateness of the going concern assumption basis, the Trustees have �� unrestricted reserves and forecasts for the foreseeable future taking into account the principal ��

�� Trustees have considered the impact of a severe economic outcome on the charity and the �� taken to mitigate the impact of this stress. Trustees have also considered the circumstances under �� current level of the charity’s cash and reserves and �� Trustees have concluded that the risk of this situation occurring is remote.

Accordingly, and after making appropriate enquiries, the Trustees have a reasonable �� continue in operation and meet its liabilities as they fall due for at least 12 months from the date of signing of this report. For this reason, they continue to adopt the going concern basis in ��

��

The investment policy relating to designated �� liquidity. Financial assets are generally held �� Bank deposits and money market deposits are �� Investment Advisory Committee.

Investments held for Premier Donor Advised Funds �� advised by each donor. As a result, this portfolio �� over the longer term, comprising pooled investment funds, equities and bonds. Funds held for PDAFs may also be managed on a discretionary basis by an investment manager in portfolios attributable to donations received from individual donors.

��

CAF America, the charity’s immediate controlling party, provides administrative support services to the charity.

CAF, the charity’s ultimate parent, provides the ��

Details of the related parties and the transactions �� notes 13 and 14.

��

CADF | ��

STRUCTURE, GOVERNANCE AND MANAGEMENT

��

�� incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing �� required to:

[Select suitable accounting policies and then ] ��
[Observe the methods and principles in the ] ��
[Make judgements and estimates that are ] ��
[��] ��
[��] concern basis unless it is inappropriate to �� continue in business.

The Trustees are responsible for keeping �� charitable company and enable them to ensure �� for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

��

��
the Trustees have taken all the steps that he �� relevant audit information and to establish �� information.

��

�� by the Trustees and signed on their behalf on 9 August 2021.

�� Trustee

CADF | ��

INDEPENDENT AUDITOR’S REPORT ��

��

[��] �� resources and application of resources, including its ��
[��] kingdom generally accepted accounting practice, �� reporting standard applicable in the uk and republic of ��
[��] ��

��

�� that the trustees’ use of the going concern basis of �� appropriate.

�� conditions that, individually or collectively, may cast �� for issue.

Our responsibilities and the responsibilities of the trustees �� sections of this report.

��

[��]
[��]
[��]
[The related notes 1 to 14.]

�� Accounting Standards, including Financial Reporting �� Generally Accepted Accounting Practice).

��

�� Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of ��

We are independent of the charitable company in �� basis for our opinion.

��

The other information comprises the information included �� and our auditor’s report thereon. The trustees are �� does not cover the other information and, except to the �� express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in �� material inconsistencies or apparent material �� report that fact.

We have nothing to report in this regard.

��

As explained more fully in the trustees’ responsibilities �� and for such internal control as the trustees determine is �� fraud or error.

CADF | ��

INDEPENDENT AUDITOR’S REPORT ��

�� responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

��

Our objectives are to obtain reasonable assurance about �� to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not �� it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, �� economic decisions of users taken on the basis of these ��

A further description of our responsibilities for the audit of �� forms part of our auditor’s report.

��

Irregularities, including fraud, are instances of non�� to detect material misstatements in respect of �� procedures are capable of detecting irregularities, including ��

We considered the nature of the charitable company’s �� charitable company’s documentation of their policies and �� regulations. We also enquired of management about their �� irregularities.

We obtained an understanding of the legal and regulatory ��

[��] �� charitable company’s ability to operate or to avoid a material penalty. These included the charity commission �� and money laundering and bribery legislation.

We discussed among the audit engagement team regarding ��

�� procedures performed to address them are described ��

[��] �� completeness during the period by reference to client ��
[��] �� communicated by the donor to the charity and �� due diligence process had been performed per the �� sample testing of cheques, instructions from clients and �� the grants.

�� risk of management override. In addressing the risk of fraud ��

[��] �� These included the uk charities act, uk companies act, ��

CADF | ��

�� transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the ��

[��] ��
[Performing analytical procedures to identify any unusual ] or unexpected relationships that may indicate risks of ��
[Enquiring of management and external legal counsel ] concerning actual and potential litigation and claims, and �� and
[��] governance.

��

�� of the audit:

[��] includes the strategic report and the directors’ report ��
[The strategic report and the directors’ report included ] ��

�� charitable company and its environment obtained in the �� misstatements in the strategic report or the directors’ ��

��

[Adequate accounting records have not been kept, or ] returns adequate for our audit have not been received ��
[��] ��
[��] ��
[We have not received all the information and ] ��

We have nothing to report in respect of these matters.

��

This report is made solely to the charitable company’s �� state to them in an auditor’s report and for no other �� accept or assume responsibility to anyone other than the charitable company and the charitable company’s ��

�� Senior statutory auditor

For and on behalf of Deloitte LLP Statutory Auditor ��

12 August, 2021

CADF | ��

�� INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT

For the year ended 30 April 2021

----- Start of picture text -----
��
�� Donor advised ��
��
2021 2020 2021 2020 2021 2020 2021 2020
Notes £000 £000 £000 £000 £000 £000 £000 £000
��
Donations 797 724 61,557 �� 21,050 14,987 83,404 79,488
Investments 2 125 234 – – 480 999 605 1,233
Foreign exchange gains – – – 394 – 822 – ��
�� 922 958 61,557 �� 21,530 �� 84,009 81,937
��
Charitable activities:
Grants payable to charities 3 72 557 50,973 �� 22,716 �� 73,761 82,744
Cost of charitable activities 4 406 385 7 37 76 90 489 512
Loan loss provision 7 – – – – �� (14) �� (14)
Foreign exchange losses 17 – 810 – 1,167 – 1,994 –
�� 495 942 51,790 �� 23,920 �� 76,205 83,242
��
�� 427 �� 9,767 �� 7,804 ��
�� – – 258 �� 3,982 (797) 4,240 (803)
�� 10 – – – �� – �� – –
�� 427 �� 10,025 (1,853) 1,592 (271) 12,044 (2,108)
��
�� 828 812 16,262 18,115 59,208 59,479 76,298 ��
�� 10 1,255 828 26,287 �� 60,800 59,208 88,342 ��
----- End of picture text -----

The results are derived from ongoing operations, and all gains and losses arising in the current and preceding year are included in the above Statement of Financial Activities.

��

CADF | ��

��

As at 30 April 2021

----- Start of picture text -----
��
�� Donor advised ��
��
2021 2020 2021 2020 2021 2020 2021 2020
Notes £000 £000 £000 £000 £000 £000 £000 £000
Assets
��
On demand and short-term
deposits 1,428 �� 25,901 �� 27,648 �� 54,977 45,042
Other term and money market
deposits – – – – – �� – ��
1,428 �� 25,901 �� 27,648 31,093 54,977 48,502
Financial investments � – – – – 32,331 27,385 32,331 27,385
Loans to charities 7 – – – – – – – –
Other debtors 8 7 52 386 �� 821 931 1,214 ��
�� 1,435 1,458 26,287 �� 60,800 59,409 88,522 ��
��
��
Grants payable 72 553 – �� – 201 72 781
Creditors 9 108 77 – – – – 108 77
180 �� – �� – 201 180 858
Net assets 1,255 828 26,287 �� 60,800 59,208 88,342 ��
��
Charitable funds 1,255 828 26,287 �� 55,430 �� 82,972 73,514
Fair value reserve – – – – 5,370 2,784 5,370 2,784
Called up share capital
(£100, 2020: £100) 11 – – – – – – – –
�� 10 1,255 828 26,287 �� 60,800 59,208 88,342 ��
----- End of picture text -----

Approved and authorised for issue by the Trustees and signed on their behalf on 9 August 2021.

�� Trustee

Charity Registration No: 1079020 Company Registration No: 03900842

��

CADF | ��

��

For the year ended 30 April 2021

	2021	2020
	£000 £000	£000 £000
��
Net cash used in operating activities	��	(8,539)
��
Proceeds from sale of investments	22,941	��
Purchases of investments	��	(8,252)
Net movement in other term and money market deposits	3,460	(49)
Premier Donor Advised Funds investment income received	526	1,021
��	��	918
��	10,731	��
��	8,074	(2,537)
��	45,042	��
Change in cash and cash equivalents due to exchange rate movements	1,861	(1,148)
Cash and cash equivalents as at 30 April	54,977	45,042
��
��	12,044	(2,108)
Non-cash donations received	��	(7,884)
��	��	803
Decrease in loans to charity	49	10
Decrease in loan loss provision	��	(10)
��	8	(220)
��	��	702
Increase in creditors	31	19
Premier Donor Advised Funds investment income received	��	(999)
��	��	1,148
Net cash used in operating activities	��	(8,539)

CADF | ��

��

For the year ended 30 April 2021

��

The principal accounting policies and judgements used in ��

��

�� Standard 102 (FRS 102) issued by the Financial Reporting Council and the Charities SORP (FRS 102).

�� Commission for England and Wales. The address of the ��

�� under FRS 102.

The principal activities and the nature of the charity’s operations are set out in the strategic report on pages 4-8.

The functional currency is considered to be pounds sterling because that is the currency of the primary economic ��

��

In order to assess the appropriateness of the going concern assumption basis, the Trustees have considered the �� and forecasts for the foreseeable future taking into account �� economic impact of Covid-19, in particular, the Trustees have considered the impact of a severe economic outcome �� actions that might be taken to mitigate the impact of this stress. Trustees have also considered the circumstances �� to continue. After taking into account the current level of �� performance since 30 April 2021, the Trustees have concluded that the risk of this situation occurring is remote.

Accordingly and after making appropriate enquiries, the Trustees have a reasonable expectation that the charity �� statements.

��

All of the charity’s funds constitute unrestricted funds. Details of the nature and purpose of its funds are set out ��

��

Donations received are recognised once the charity has entitlement to the income, it is probable that the income �� be measured reliably.

Non-cash donations principally comprise share gift ��

In the event that a donation or grant is subject to conditions, the income is deferred and not recognised until either those ��

��

Interest receivable on term and money market deposits �� over the term of the deposit. Dividends are recognised once �� received of the value of the dividend due.

��

Expenditure is recognised as soon as there is a legal or constructive obligation to make a payment to a third party, �� amount of the obligation can be measured reliably.

�� grant are outside of the control of the charity.

Governance costs comprise costs involving the public �� support costs.

Irrecoverable VAT is charged as a cost.

��

All expenses are allocated or apportioned to the applicable fund. Support costs, unless directly attributable, are charged to the general fund. Support costs comprise costs �� executive management and governance.

CADF | ��

��

��

�� the previous year. All administrative services are provided by employees of Charities Aid Foundation (CAF), the charity’s ultimate parent (see note 13). The charity paid a management charge and fees to CAF for these services �� contribution pension arrangements.

��

Sterling is the functional and reporting currency. Transactions in foreign currencies are translated to sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to sterling at the exchange rate ruling at that date.

��

The charity is considered to pass the tests set out in �� potentially exempt from taxation in respect of income or �� the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

��

On demand balances and short-term deposits represent �� available on demand or have an original maturity date of ��

Other term and money market deposits represent balances �� estimated realisable value.

loss. Subsequent to initial recognition all types of �� recognised in the SOFA. Where the fair value of such investments cannot be reliably measured because, for example, they are not publicly traded, the investments are measured at cost less impairment.

��

Debtors are recognised at the settlement amount due �� amount prepaid.

�� transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement ��

��

Concessionary loans may be receivable from other charities as a result of loans advanced by the charity. Such loans are advanced at concessionary (non-market) rates of interest, �� are subsequently measured at the amount advanced less amounts received less any impairment.

Loans are assessed at each reporting date to determine �� Objective evidence can include default or delinquency by a ��

If there is evidence of impairment leading to an impairment loss then the amount of the loss is determined as the �� including accrued interest, and the estimated recoverable amount. The carrying amount of the loan is reduced by the �� recognised in the SOFA.

��

A pool of investments may be held for Premier Donor Advised Funds (PDAF) to achieve an investment return to fund future grants to charitable causes. The value of the investments determines the funds available for grantmaking at any point in time.

�� normally the transaction price. Transaction costs are ��

CADF | ��

��

��

	��	��	��	��	��
		�� ��	�� ��	�� ��
	2021 £000 2020 £000	2021 £000 2020 £000	2021 £000	2020 £000	2021 £000 2020 £000
Dividends received	– –	– –	454	��	454 ��
��	125 234	– –	26	312	151 ��
	125 234	– –	480	999	605 1,233

3. Grants paid to charities

	2021	2020
	�� £000	No. ofgrants £000
Charitable sector
��	10 113	8 175
Arts, culture, heritage or science	201 5,786	227 7,007
Citizenship or community development	88 2,685	�� 2,273
Education	427 25,502	�� 23,438
Environmental protection or improvement	56 1,182	50 ��
Health	130 19,545	�� 37,828
��	60 2,099	40 2,015
Armed forces and the emergency services	4 155	11 ��
Relief of poverty	57 1,178	70 903
Relief of those in need	132 3,699	135 3,797
Religion	135 1,301	105 2,339
Amateur sport	4 33	8 77
Other charitable purpose	48 10,483	44 2,199
	1,352 73,761	�� 82,744

��

CADF | ��

��

��
��	2021 £000	2020 £000
Allocated support costs paid to:
CAF (see notes 13 and 14)	391	��
CAF America (see notes 13 and 14)	15	��
Other direct costs	83	��
	489	512
Other support costs consisting of governance costs:
Fees payable to the charity’s auditor for the audit of the charity’s annual accounts (excluding ��	21	19
Legal and professional expenses	17	15

��

�� CAF. The charity paid a management charge and fees for these services (see note 4).

None of the Trustees received any remuneration or reimbursement of expenses during the current or the previous year, �� associated entity during the current or the previous year.

CADF | ��

��

��

�� suggestions are received and grants are subsequently approved by the Trustees, there is no constructive obligation or �� medium- to long-term philanthropic objectives. The approval by the Trustees of grants from PDAF funds is planned by ��

	2021 £000	2020 £000
Held at fair value for unrestricted designated funds
At 1 May	26,807	23,838
Additions	22,128	��
Disposal proceeds	��	��
Realised gains	1,653	��
��	2,587	(1,411)
	30,234	��
Investment portfolio cash	2,097	578
��	32,331	27,385
Historical cost of investments held at fair value	24,874	24,023

��

�� The quoted price for an identical asset in an active market.
�� When quoted prices are unavailable, the fair value is taken as the price of a recent transaction for an identical asset (derived from market data).
�� �� estimate of fair value, a valuation technique is used to estimate the fair value. The objective of using a valuation �� exchange motivated by normal business considerations. If the range of reasonable fair value estimates is
�� cost less impairment until a reliable measure of fair value becomes available.

Represented by	2021	2020
	�� £000 �� £000	Level 1 £000 Total £000
Listed securities
��	730 730	1,994 1,994
��	– –	�� ��
��	273 273	173 173
Overseas equities	4,819 4,819	2,880 2,880
CAF investment funds:
��	– –	141 141
IFSL CAF International Equity	16 16	12 12
��	23,951 23,951	20,749 20,749
Investment trusts	445 445	170 170
	30,234 30,234	�� ��
Investment portfolio cash	2,097 2,097	578 578
	32,331 32,331	27,385 27,385

��

CADF | ��

��

7. Loans to charities

	��	��	��	��
	�� ��	�� ��	�� ��
	2021 £000 2020 £000	2021 £000	2020 £000	2021 £000 2020 £000
��
Amounts receivable in less than one year	– –	57	57	57 57
��	– –	7	��	7 ��
Less: Provisions	– –	�� (113)		�� (113)
	– –	– –		– –

Concessionary loans may be receivable from other charitable organisations as a result of loans advanced by the charity �� reporting date.

8. Debtors

	�� ��	��	��	��
		�� ��	�� ��
	2021 £000 2020 £000	2021 £000 2020 £000	2021 £000 2020 £000	2021 £000 2020 £000
Interest and dividends receivable	5 50	– –	9 ��	14 ��
��	– –	386 ��	812 875	1,198 ��
Other debtors	2 2	– –	– –	2 2
	7 52	386 ��	821 931	1,214 ��

9. Creditors

	�� ��	��	��	��
		�� ��	�� ��
	2021 £000 2020 £000	2021 £000 2020 £000	2021 £000 2020 £000	2021 £000 2020 £000
Amounts due to:
CAF	44 19	– –	– –	44 19
CAF America	26 13	– –	– –	26 13
Other creditors	38 45	– –	– –	38 45
	108 77	– –	– –	108 77

��

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The assets representing these funds have been gifted to the charity by donors. Donors may make suggestions (they may not direct) to the charity’s Trustees regarding the distribution of their donations to charitable organisations based across ��

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The assets representing these funds have been gifted to the charity by donors and are invested to generate an income ��

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	2021 £ 2020 £
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100 ordinary shares of £1 each	100 100

The charity’s regulations state that no dividends shall be paid to shareholders. They also preclude shareholders from ��

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	2021 £	2020 £
Opening shareholders’ funds	100	100
Result for the year and net additions to shareholders’ funds	–	–
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�� Trustees are appointed by its existing Trustees or by the Board of Directors of CAF America. CAF America is the charity’s ��

�� the charity is consolidated. The accounts of CAF can be obtained from CAF at: 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4TA.

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25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA

Telephone: +44 (0)3000 123 150 Email: cadf@cafonline.org ��

Charity Registration No: 1079020 ��

CHARITY INFORMATION, TRUSTEES AND ADVISORS

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In this report

CHAIR’S REPORT

STRATEGIC REPORT

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£83.4m

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