J V IL The Ttrue CDIDupS Ttrust nnua 2021 Report
| CONTENTS 1What We Do 2How We Work 3Trustees’ Report 4Independent Auditor’s Report 5Statement of Financial Actvites 6Balance Sheet 7Cash Flow Statement 8Notes to the Accounts |
3 4 5-24 25-27 28 29 30 31-38 |
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WHAT WE DO
True Colours is an independent funder working in the UK and Africa
OUR WORK IS FOCUSSED ON:
l improving access to palliative care for babies, children and young people in the UK l enabling disabled children and young people to live their lives to the full l improving access to pain relief and palliative care in Africa.
We have been working on these issues since 2002. On average, we approve grants amounting to £2 million each year. This year we approved grants amounting to significantly more than usual, due to our emergency Covid-19 response.
Listening to those with lived experience
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Our
approach
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Partnerships, feedback
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Long-term commitments
HOW WE WORK
e run two small grants programmes for which we have an open application process – one for work in the UK and another for work in AfW rica. More information on these programmes and how to apply can be found on our website – www.truecolourstrust.org.uk and on pages 19-22.
All our other programmes are designed and developed in partnership with organisations, in response to identified needs.
We believe in transparency in grant-making and publish information on all our grants on 360 Giving. www.threesixtygiving.org
Listening to those with lived experience
Since True Colours was founded, we have always listened to those from the sectors in which we work, and designed programmes in collaboration with those we fund. Increasingly, we are now working directly with families, and those with lived experiences, to ensure our funding is informed by their experiences.
Accuro (Care Services)
Partnerships, feedback and real collaboration
Partnerships are key to all our work. We are incredibly grateful to all those who share their knowledge, experience and expertise with us, helping us to learn more about the sectors in which we work and the collective needs. We also really appreciate feedback and seek to use it to improve our ways of working.
Long-term commitments
We know that change takes time, particularly if it involves changes to systems and to established ways of working and thinking. We understand that sometimes projects take longer than expected and that there is often a need for flexible, long-term funding to make change possible.
Diversity, Equity and Inclusion
We believe that our funding has a role in addressing inequality and supporting a fairer society. We always aim to be responsive and equitable grant-makers. It is important to us that a culture of diversity, equity and inclusion is core to our team of employees, and central to our grant making. We will continue to work to achieve this goal and are dedicating the time and resources needed to do so. We will continue to talk with and listen closely to those we support as we move forward.
TRUSTEES’ REPORT
t the heart of True Colours’ work is an ambition to achieve A equity, specifically in the fields of palliative care1 and disability. We are working towards a time when everyone, wherever they live and whatever their age, is able to access good palliative care, and disabled children and young people are able to live their lives to the full.
In the UK, there are one million disabled children under the age of 16 – that equates to one child in 20. However, families with disabled children often struggle to access the services and support they need and many children are overlooked or excluded due to their disability.
Each year an estimated 4 million children are in need of palliative care. Over half live in Africa. Worldwide Hospice Palliative Care Alliance, Global Atlas of Palliative Care
The Covid-19 pandemic has further highlighted the global differences in healthcare. Internationally, vaccine
This year we have continued to work with a wide range of organisations of all sizes in the UK and Africa to help create a more equitable world. We are committed to transparency in our grant-making and have sought to include within this report more information about how we operate and why we do what we do. More information on the specific grants we made this year can be found on pages 16-22.
roll-out varies hugely, and access to vital PPE or even hand-washing facilities remains difficult for many households. In the UK, the virus has disproportionately affected people from some ethnic minority communities and we have seen higher reported levels of anxiety, isolation and poor mental wellbeing amongst families with disabled children. Vital therapies and support have been reduced and many disabled children missed out on much more school than their peers.
In the UK there are 1 million disabled children under the age of 16 – that equates to 1 child in 20.
Health inequalities exist in every country and across every continent. Access to palliative care and pain relief varies greatly depending upon where you live. Millions of people across the world experience preventable pain, affecting them and their loved ones, because appropriate pain relief is not available. Around 45% of African countries have little or no palliative care provision. An estimated 4 million children are in need of palliative care and over half of them live in Africa. We are working with our African partners to change this.
As a funder, we have always sought to identify and address inequity, both through what we fund and how we work. However, we also recognise that we are part of an inequitable system and that there is always more to learn. We remain committed to
Contact
listening, learning and responding to needs across the sector and always welcome feedback and questions as we seek to ensure we are doing the best possible job.
Thank you for your interest in True Colours, we hope you enjoy reading about our work and that of our partners in 2020/21.
1.Palliative care is a crucial part of integrated, people-centred health services. Relieving serious health-related suffering, be it physical, psychological, social, or spiritual, is a global ethical responsibility. Thus, whether the cause of suffering is cardiovascular disease, cancer, major organ failure, drug-resistant tuberculosis, severe burns, end-stage chronic illness, acute trauma, extreme birth prematurity or extreme frailty of old age, palliative care may be needed and has to be available at all levels of care. – World Health Organization https://www.who.int/news-room/fact-sheets/detail/palliative-care
HIGHLIGHTS OF 2020-21
his year we continued to fund excellent organisations working in our three grant making areas and made 120 grants amounting to £4.17 million. On T average, we approve grants amounting to £2 million
each year. This year we approved grants amounting to significantly more than usual. More information on the individual grants approved follows (pages 16-22), but first we would like to share some highlights from the year.
Improving access to palliative care for babies, children and young people in the UK
CW+
National Lead Nurse for Neonatal Palliative Care
Since 2015, we have been working with Chelsea and Westminster Hospital NHS Foundation Trust and its charity CW+ on a project to improve neonatal palliative care services. These services provide care to newborn babies who have multiple complex health needs with an uncertain future, and their families.
Six years ago, we jointly funded the UK’s first regional Lead Nurse for Neonatal Palliative Care in London with CW+. The role was held by Alex Mancini who worked with neonatal units and children’s hospices across London to promote neonatal palliative care by providing training, sharing information and resources, and giving professional advice and support, particularly to colleagues working on difficult cases. Trained nurses are now in place across London to lead the work within London’s Neonatal Networks.
This experience defines the rest of their life. If you manage to do this well, that’s a gift that goes on for years. Neonatal Consultant
We always planned to use learning from the London project to create a model which could be used in other UK regions. We are thrilled that, this year, the project is being rolled out nationally, initially to three new regions across England. Alex Mancini will continue to lead the work, training professionals in neonatal palliative care across the country and helping to embed this approach in routine care for babies and their families, when it is needed.
We are very proud of our involvement in this project and look forward to seeing the rollout develop over the next three years.
When I was first talking about palliative care on neonatal units about 15 to 20 years ago, many of my colleagues said there’s no such thing as neonatal palliative care, there’s no place for palliative care in neonatal care, there’s either death or there’s survival. I said, there’s this whole period in between. Thankfully neonatal palliative care is now recognised as essential.
Alex Mancini, National Lead Nurse for Neonatal Palliative Care
Improving support for bereaved parents when registering the death and arranging the funeral of their child
In 2018 we began to work with a small group of bereaved parents who very generously shared with us their experiences and advised us on ways in which other bereaved parents and their families could be better supported.
One theme which emerged often was the range of parents’ experiences regarding the processes of registering the death of their child and arranging the funeral. Some parents had felt well-supported and guided through the process. Others spoke of unhelpful conversations and hurtful or careless comments from professionals, the memory of which caused ongoing pain.
The research put across a vital perspective (…) and gave a direct insight into bereaved parents’ experience and views.
Michael Fern, Editor, SAIFInsight, the magazine for the National Society of Allied and Independent Funeral Directors.
In 2019, we approved funding to the University of Birmingham’s Department of English Language and Linguistics as it worked with the University of Coventry to undertake some research into ways to improve communication with parents or carers who have been bereaved of a child, with a focus on funeral directors and registrars.
The findings from the research have already been shared with coroners, local registration services, funeral directors and burial/cremation authorities via articles distributed by professional training bodies and/or in professional magazines. In addition, training materials on communication with parents whose child has died are being prepared for the National Association of Funeral Directors.
The research findings and training materials have been well-received by the sector who are keen to improve the experience for bereaved parents. We are confident that this project will result in positive change and in more parents receiving the best possible support at the worst possible time.
Enabling disabled children and young people to live their lives to the full
Changing Places – addressing inequitable access to suitable public toilets
The Changing Places consortium campaigns for fully accessible toilets to be installed in public places. These toilets are vital for those who cannot use a traditional disabled toilet, and who are therefore unable to access days out, public places, attend work or do other daily tasks. We have heard from many disabled people, as well as parents and carers, of the difference these toilets make, and the challenges faced when they are not available.
There have been huge developments in the number of Changing Places available in the UK and the campaign has celebrated some great wins over the last few years, with changes in legislation meaning that all new public buildings now must include a Changing Place, and with government funding being made available for rooms in hospitals and service stations. Many supermarkets have also taken the lead, installing rooms in their stores.
Changing Places around the country are recorded on an online map which allows those who need them to plan journeys or days out around the nearest Changing Place. Feedback from users was that, while incredibly helpful, the map was unwieldy and did not always contain all the information about a venue that would be useful. In 2020 we released funding to the Changing Places consortium
Changing Places Consortium
towards the costs of updating the website and map to ensure that these vital rooms can be easily located. Having this information on hand, on a mobile or tablet, makes a huge difference to those who need Changing Places on a - daily basis. www.changing places.org
Changing Places provide exactly the right space and equipment we need for our daughter to enjoy going out, but there simply aren’t enough of them to give her the quality of life she deserves.
Parent
Improving access to pain relief and palliative care in Africa
Palliative Care Association of Malawi
In addition, the country has a National Palliative Care Policy, includes palliative care indicators in its mandatory national health data collection (DHISII) and has been ranked among the top 29 countries in the world for palliative care integration, sitting alongside the UK, USA, Australia and Germany. This is a truly remarkable achievement made possible by the vision of one man, the leadership of Malawi’s
Integrating palliative care into the public health system in Malawi – the Palliative Care Association of Malawi
The STEP UP Project was conceived in 2011 by Fred Chiputula – a Clinical Officer supporting children with palliative care needs at a national referral hospital. Fred was concerned about the lack of palliative care for his patients when they were discharged to their home districts - at that time district hospitals rarely had trained staff, stocks of morphine, an appropriate clinic space or ring-fenced funding for a palliative care service.
Ministry of Health, the hard work and commitment of the Palliative Care Association of Malawi, and its partners and our ten-year funding partnership.
Malawi is now ranked as one of the top 29 countries in the world for palliative care integration. It is also one of the
In 2021, we approved a final multi-year grant towards STEP UP, to support PACAM as it works with the Ministry of Health to maintain the work in the long term. The Ministry will ensure ongoing formal mentorship and supervision of trained staff. The last phase will also see the consolidation of peer support networks and a drugs taskforce to ensure that palliative care medicines are available to those who need them across the country.
Ten years on, and the situation has been transformed. Each of Malawi’s district hospitals now has a dedicated palliative care clinic run by a full-time trained member of staff, palliative care is
world’s poorest. Worldwide Hospice Palliative Care Alliance, Global Atlas of Palliative Care
included in all District Health Implementation Plans, with an associated budget line, and there is a consistent supply of morphine at least 82% of the time. The project has also strengthened palliative care in the community – helping to establish an effective collaboration between Community Based Organisations and the district hospitals through training and the provision of bicycles for home visits. The number of adult palliative care patients in Malawi has doubled since 2011 while the number of children receiving palliative care has more than quadrupled.
STEP UP has led to sustainable systemic change in the delivery of palliative care services across Malawi. It has significantly improved access to this vital
service through the government health system, rather than stand-alone charitably funded services. It has been a huge privilege to work alongside Malawian leaders and clinicians, we have learnt so much from their expertise and we are incredibly proud of all that the programme has achieved.
THE COVID-19 CRISIS
Mulanje Mission Hospital
his year, the Covid-19 crisis was at the forefront of all our work, and that of our partners. Many of those we work with were directly involved in a T Covid-19 response, whether by delivering frontline care to children and families, or undertaking advocacy to ensure that the voices of disabled children and those with palliative care needs were heard by decision makers and government officials. In Africa, our partners were involved in supporting their governments’ responses to the crisis, particularly in hard-to-reach communities.
We were inspired by the dedication of the organisations we fund to the children, families and patients they support and we are proud to be associated with them.
Magpie Dance
Between March 2020 and September 2021, Trustees approved emergency funding of £1.92 million in response to the Covid-19 crisis. Funding decisions were made quickly, and grants were designed to be flexible, allowing organisations to respond effectively during the fast-moving situation. Of the funding approved, £670,000 fell in the 2019/20 financial year and featured in the financial summaries for last year. £1,218,616 was approved in 2020/21 and these grants are listed in this report. The remaining £34,040 was approved in 2021/22 and will be included in next year’s financial summaries.
We made grants to support UK-based charities as they:
➤ delivered their vital services for children and families while facing huge drops in income as fundraising events were cancelled and costs increased.
➤ provided computer tablets to allow those in hospital to speak with their families.
➤ provided dedicated family support services which were responding directly to the challenges created by the pandemic.
Sam’s Place
Island Hospice & Healthcare
We made grants to African-based palliative care organisations towards:
➤ the costs of much-needed PPE.
➤ water and sanitation programmes to reduce the spread of the virus and to enable these organisations to continue their essential work more safely.
➤ core costs for organisations working to continue delivering palliative care throughout the pandemic.
A full list of grants made from our emergency Covid-19 budget can be found on our website at www.truecolourstrust.org.uk
OUR COVID 19 RESPONSE
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Support for
clinical care
staff
Core support to enable
seamless service delivery
Support for small to children and families
organisations to
adapt their services
Connectivity –
specifically helping
families to stay connected
through the use of
technology such as tablet
UK devices and virtual
Family Support e-visiting
Bereavement
Support
£ TOTAL SUM AWARDED: £1.92 MILLION £
Connectivity –
specifically the
provision of data
bundles to allow for
remote support
PPE for clinicians,
palliative care
patients and their
families Direct Covid-19
AFRICA response including
training, sensitisation
and awareness raising
Core support for
palliative care
organisations
Water,
Sanitation and
Hygiene
Facilities
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GOVERNANCE
he Trustees are advised by Maggie Baxter CBE, Dame Christine Lenehan, Dr Linda Maynard and Lisa Spinks, alongside our parent advisory group. We are T very grateful to all our advisers for their expertise and dedication. To avoid conflicts of interest arising, advisers do not participate in Trustees’ decision-making regarding the funding of any organisation with which they are associated.
The Trustees who served during the year are listed on page 23. Trustees are appointed by the Chair, in consultation with existing Trustees, and are provided with relevant information relating to their responsibilities. The Trustees are responsible for the overall direction and supervision of The True Colours Trust; they set the Trust’s strategy, review proposals and approve grants. The Trustees delegate day-to-day operations to the Trust’s Lead Executive, Jo Ecclestone Ford.
Reserves Policy
In the year under review, there was a planned deficit of income over expenditure on the unrestricted funds of £2,794,226 (2020: £2,339,098). This has been funded by a transfer from expendable endowment. Whenever it may be necessary in the future, the Trustees are prepared to fund grant commitments from expendable endowment.
Although some grants have been accrued, others totalling £1,224,779 (2020: £265,083) have not been provided for in the Statement of Financial Activities as they are due to be paid more than twelve months after the year end. They represent funds earmarked for continued support to certain existing beneficiaries, which are released when conditions attached to the grant are fulfilled.
The Trustees regularly review cash flow projections for income and expenditure, to ensure that the level of disposable net assets is adequate and that the Trust is in a position to meet all its commitments. As at 5 April 2021, the Trust held total funds of £11.6 million (2020: £11.4 million).
Drama Express
Investment Policy and Performance
The Trust holds significant money market deposits to enable the Trust to draw on capital rapidly when required and also to avoid the need to draw on investments in times of market downturns. The remaining funds are held in a spectrum of investments within Sarasin’s Endowment and Income & Reserves funds to generate unrestricted income and capital returns in accordance with the Trustees’ guidelines.
Investment markets were positive for the year ended 5 April 2021, rebounding strongly from their March 2020 nadir on the back of unprecedented monetary and fiscal policy support from governments and central banks around the World.
The True Colours Trust’s Endowment fund portfolio rose by 28.1% (total return, net of fees) over the period, more than recovering the fall in values suffered in the previous year with all asset classes generating positive returns led by the portfolio’s global equities. The overall return was ahead of the portfolio’s long-term target return of UK CPI +4%. The portfolio earned, and paid out, £232,878 of income during the year, a yield of ~3%.
The Trust’s more defensively positioned Income & Reserves fund portfolio rose by 9.0%, again more than reversing the previous year’s fall in value. This portfolio has a much higher allocation to government and corporate bonds than the Endowment fund hence the return was lower (in the same way as the allocation protected the fund during the downturn last year). This overall return was ahead of its long-term target return of UK CPI +1%. The portfolio earned, and paid out, £89,784 of income during the year, a yield of ~3%.
Sharks Community Trust
Risk Assessment
The Trustees have examined the major strategic, business and operational risks to which True Colours may be exposed. Through the joint office of the Sainsbury Family Charitable Trusts, systems are in place to adequately manage such potential risks as the Trustees have identified. They continue to keep processes under review.
Trustees have identified the uncertainty of financial returns to constitute the Trust’s major financial risk. This is mitigated by having a diversified financial portfolio under the management of a major investment house. The Trustees regularly review investment strategy and monitor financial performance. They also operate a grant distribution formula which helps to ensure the stability of resources for grant awards in any given year.
Another major risk is a misuse of funds by a charity beneficiary. To mitigate this risk, the awards are made following a thorough assessment and grants are regularly monitored; multi-year grant payments are conditional upon the receipt of satisfactory progress reports.
Staff Remuneration
The remuneration of the senior staff (including key management personnel) is reviewed by the Trustees on an annual basis taking into account the requirements of their role and performance during the year. From time to time, the SFCT Management Committee benchmarks pay levels against comparable positions in similar organisations.
Charity and Public Benefit
Trustees are aware of the Charity Commission guidance on Public Benefit and confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to it. They consider the full information in this annual report (about the Trust’s aims, activities and achievements in the areas it supports) demonstrates the benefit to its beneficiaries, and through them to the public, that arise from those activities.
Financial Overview of the Past Year
The Trustees met three times during the year to make grants.
The Settlor made a generous donation of £1.25 million in the year (2020: £1.44 million), which has been added to Expendable Endowment. The net asset value of the Trust increased from £11.44 million at 5 April 2020 to £11.59 million at 5 April 2021.
Fundraising
The Trust and its Trustees are fully aware of the requirements and duties set out in the Charities (Protection and Social Investment) Act 2016. The Trust does not raise funds from the public and as such has no fundraising activities requiring disclosure under SI 62A of the Charities Act 2011.
Charity Governance Code
Trustees are aware of the Charity Governance Code published in 2017 which sets out the principles and recommended practice for good governance within the sector. The Charity has reviewed its governance arrangements against the principles within the code and believes that it is compliant with the code whilst maintaining its need to operate its governance efficiently.
The total income allocated to unrestricted funds for the year was £334,906 (2020: £340,897) and the total income allocated to restricted funds for the year was £300,000 (2020: £0).
The Trustees continue to approve grants worth significantly more than the income for the corresponding period in accordance with the approach set out in the Reserves Policy. During the year Trustees approved 120 grants totalling £4,166,097 (2020: £2,139,568), some of which are payable over more than one year.
Payments made during the year totalled £3,625,812 (2020: £1,998,263). Grants approved and paid during the year may be analysed by value and percentage across the Trust’s grant-making categories as set out in the following table:
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Payments Made Grants Approved
% £ £ % Number
54 1,955,269 UK - Disabled Children & Children’s Palliative Care 1,577,531 37 24
36 1,291,525 Africa - Palliative Care (including Small Grants) 2,189,996 53 15
10 379,018 Small Grants UK and Sainsbury Archive 398,570 10 81
100 3,625,812 Total 4,166,097 100 120
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GRANTS APPROVED
UK – Disabled Children and Children’s Palliative Care – £1,577,531
CW+ (Chelsea & Westminster Hospital NHS Foundation Trust’s Charity) – three grants amounting to £229,683 over three years Towards the National Lead Nurse for Neonatal Palliative Care.
Childhood Bereavement Network (CBN) – two grants amounting to £202,346 over two years Towards the organisation’s core costs and the costs of a Senior Development Officer.
Oily Cart
East Anglia’s Children’s Hospices (EACH) – £8,442
Towards the purchase of equipment to support its new Milton Hub, a respite service for children with complex needs.
Muscular Dystrophy UK – £123,651 over three years Towards the Changing Places website, salary costs and overheads for the Changing Places Campaign.
Oily Cart – £30,000
Towards the core costs of this organisation which creates accessible theatre for children.
On Road Media – three grants amounting to £233,154 over three years Towards research and a strategic communications project to increase public understanding of children’s palliative care.
Purple Flame Media Ltd – £6,444
Towards the production of a short film on Breathing Spaces – ‘home from home’ parent/carer rooms in hospitals funded by True Colours.
Sibs – £181,169 over three years
Towards the costs of the CEO’s salary, the costs of the young siblings’ work and the costs of website maintenance.
Starlight Children’s Foundation – £50,000
Towards the costs of a project testing the use of technology to support play opportunities for children in clinical settings.
Sibs
Together for Short Lives – £7,551
Towards collating an evidence base about the interface between families from ethnic minority communities and children’s palliative care services, in order to improve practice on the ground.
Emergency grants made in response to the Covid-19 crisis
This year, Trustees continued to make emergency funding available in response to the Covid-19 crisis. These grants were made in addition to four grants approved in 2019/20 (and included in the 2019/20 annual report) amounting to £670,000, towards emergency Covid-19 response in the UK. For more information on our Covid-19 response, see pages 10-12.
British Association of Critical Care Nurses (BACCN) – £10,000
Towards the 2021 Dragon’s Den Critical Care Innovation Project - supporting nurses to design and implement projects that enhance the health and wellbeing of nurses on Critical Care Units, in light of the COVID-19 pandemic.
Childhood Bereavement Network – two grants amounting to £38,721
Towards additional capacity for the Childhood Bereavement Network and the National Bereavement Alliance in response to the Covid-19 crisis.
Contact – two grants amounting to £86,370
Towards its Listening Ear service and the costs of providing tablets and data to families with disabled children who are isolated and struggling with remote learning due to a lack of IT equipment and internet access.
Jessie May Trust – £150,000
Towards the core costs of this children’s hospice at home service, in response to Covid-19.
Winston’s Wish – £20,000
Towards reprinting and distributing ‘We All Grieve’, a resource for parents, carers, teachers and other adults supporting children and young adults with SEND who are affected by a bereavement.
Rainbow Trust Children’s Charity – £100,000
Towards the costs of frontline services for children and families during the Covid-19 crisis.
WellChild – £100,000
Towards the work of the Families Team to support families with seriously ill children, in response to Covid-19.
Island Hospice & Healthcare
Africa - Palliative Care - £2,079,700
African Palliative Care Association (APCA), Uganda – £600,000 over three years Towards the organisation’s core costs.
Island Hospice & Healthcare, Zimbabwe – two grants amounting to £456,735 over three years Towards phase 3 of the programme to integrate palliative care into Zimbabwe’s public health system and towards salary costs.
Palliative Care Association of Malawi – two grants amounting to £576,250 over three years Towards phase 5 of the STEP-UP project, integrating palliative care into Malawi’s public health system and towards salary and core costs.
Purple Flame Media Ltd – £10,752
Towards the costs of producing three films on palliative care in Malawi.
Kenya Hospices and Palliative Care Association
Emergency grants made in response to the Covid-19 crisis
EMMS International – £10,000
Towards Mulanje Mission Hospital’s work to upgrade water and sanitation facilities in health centres in Mulanje District, in response to Covid-19.
Island Hospice & Healthcare, Zimbabwe – £75,000 Towards its Covid-19 response and core costs.
Kenya Hospices and Palliative Care Association (KEHPCA) – £300,000 Towards its Covid-19 response and core costs.
Palliative Care Association of Malawi – £36,550 Towards a purchase of PPE to support the Malawian Ministry of Health’s response to the pandemic, prioritising palliative care clinics, and for its own operations.
Palliative Care Support Trust – £14,413
Towards PPE and other safety equipment for staff, patients and families.
Eswatini Hospice at Home
Small Grants Africa - £110,296
The Small Grants Africa Programme supports the development of local palliative care services across the continent. It is administered by the African Palliative Care Association (APCA) which publicises the scheme, supports potential applicants and reviews applications. True Colours works alongside APCA to assess these applications.
This year, we adapted the criteria for our Africa Small Grants programme, in light of Covid-19, to include the purchase of PPE and other adaptations within the funded areas. This was crucial in the first few months of the pandemic as it allowed vital organisations to continue delivering their services safely. Trustees made four grants to APCA amounting to £110,296 of which £1,506 came from the Covid-19 emergency budget to top up the funds available for small grants.
These funds were re-granted to 24 organisations through the Africa Small Grants Programme and are listed here:
Training and Sensitisation in Palliative Care Hawassa University, Ethiopia Knysna Sedgefield Hospice, South Africa Malindi Sub-County Hospital Palliative Care Unit, Kenya Rays of Hope Hospice, Jinja, Uganda
Equipment and Palliative Care Medicines Camdeboo Hospice, South Africa Genesis Care Centre, South Africa Ladybrand Hospice, South Africa Marangu Lutheran Hospital, Tanzania Nyeri Hospice, Kenya Palliative Care Association of Rwanda South Coast Hospice Association, South Africa St Bernard’s Hospice, South Africa St Helena Sandvelt Hospice NPC, South Africa
Providing paediatric palliative care Alternative Santé, Cameroon Women Relief Organisation, South Sudan
Providing palliative care at community level Associação Mbaticoyane – Caia, Mozambique Christian Way Church, Malawi IZIMBYA Lutheran Hospital, Tanzania Relief Corps Organisation, South Sudan
Personal Protective Equipment, hygiene equipment, Covid-19 response Eswatini Hospice at Home Hands on Care, The Gambia Hospice Africa Uganda Nelspruit Hospice, South Africa Zululand Hospice Association, South Africa
The APE Project
Small Grants UK – £398,570
True Colours is committed to supporting a large number of excellent local organisations and projects that work with children and young people who are disabled and/or have life-limiting and life-threatening conditions, and their families.
The Small Grants UK programme provides grants of up to £10,000 to help smaller organisations develop and deliver programmes as we know that the work of these, often locally-led, organisations makes a huge difference to the lives of children and families by providing face-to-face, personalised support.
Grants are awarded towards a range of projects including activities for disabled children, siblings’ projects, bereavement support, specialised play equipment, minibuses, multi-sensory rooms, hydrotherapy pools and respite which supports the whole family.
This year, we ran a special Covid-19 response grant-round to support organisations as they adapted their services to bring them in line with government guidance and as they reacted to sudden and unforeseen drops in income. We made a total of 81 grants to smaller organisations in 2020/21 amounting to £398,570 which included £296,056 awarded as part of the Covid-19 response grant round, significantly increasing the funds available for small grants.
Throughout the first few months of the Covid-19 pandemic, we heard from many organisations that the speed of decisions from funders was proving crucial in enabling them to plan and respond to the crisis. We therefore shifted from a quarterly review process to a monthly one, committing to reply to applicants within six weeks of their application being received.
This year grants were approved to organisations detailed below.
Activities and support for disabled children and young people and their families Afasic – £5,000 AJ and Friends Association – £5,000 All Aboard Watersports – £5,000 Brecknock Play Network – £2,220 CHUMS Charity – £5,000 CYCALL – £5,000
CHUMS Charity
Defiant Sports CIC – £2,080 Disablement Association Hillingdon (DASH) – £5,000 Drama Express – £3,000 Enable Unity CIC – £10,000 Extratime – £5,000 Gateway North East – £9,325 Gympanzees – £5,000 Happy Hill – £5,000 Harry Gregg Foundation – £2,000 Haworth RDA – £4,904 Helping Angels Charitable Association – £4,830 Hollow Lane Club – £5,000 Isle Access – £10,000 Leo’s Neonatal – £5,000 Let Us Play – £5,000 LimbPower – £5,000 Madley Environmental Study Centre – £4,222 Mae Murray Foundation – £5,000 Magpie Dance – £5,000 Me2 Club – £5,000 Nottinghamshire Clubs for Young People – £5,000 Outreach & Community Action Project – £4,500 Para Dance UK – £5,000 Perkisound CIO – £5,000 PLUS Forth Valley – £5,000 Plymouth Sports Charity – £4,800 Project Ability – £3,600 Sam’s Place NW Ltd – £4,500 SensationALL – £5,000 Sharks Community Trust – £4,500
SNAPS Yorkshire (Special Needs and Parent Support) – £1,320 Springboard Project– £4,000 Support for Sick Newborn and their Parents (SSNAP) – £5,000 Teapot Trust – £5,000 The APE Project CIC – £10,000 The POD Charity – £5,000 Unique Ways – £5,000 Vallance Community Sports Association – £5,000 Vauxhall City Farm – £5,000 WHISH Group – £5,000
Siblings’ projects
Batten Disease Family Association – £5,000 CHIPS - Children’s Integrated Playschemes – £6,847
Bereavement support
Daisy’s Dream – £5,000 East Kent Baby Memorial Gardens Group – £2,000 Elsie’s Moon – £5,000 Nelson’s Journey (NJ) – £3,000 Phoenix Bereavement Support Services – £4,680 Reuben’s Retreat – £3,600 SeeSaw – £5,000 Stand By Me – £3,300 Sunrise Partnership – £5,000 Youth Dream – £1,250
Gympanzees
Teapot Trust
Specialised equipment, including sensory and play equipment
Challenging Behaviour Support CIC – £5,000 Koala North West – £3,800 Lifelites – £5,000 Nova Sports & Coaching – £3,700 React – £5,000 Riding for the Disabled Coleraine and District Group – £5,000 Scopes4SEN – £2,500
Sensory rooms
Butterflies Club CIC – £5,000 Maypole Project – £5,000 Team Oasis – £8,000
Respite for the whole family
Children’s Respite Trust – £8,000 Families United Network (FUN) – £5,000 Flexicare (Oxford and Abingdon) – £5,000 JIGSAW Thornbury – £5,000
Adapting services to respond to the Covid-19 pandemic
Accuro (Care Services) – £5,000 Braintree District Mencap Society – £1,500 Dimobi Children Disability Trust – £6,792 Evelina Children’s Heart Organisation – £10,000 Head2Head Sensory Theatre – £5,000 Kids Can Achieve – £5,000 Woodland Centre Trust (Camp Mohawk) – £5,000
Personal Protective Equipment Haringey Shed – £4,800 Lagan’s Foundation – £5,000
Cancelled Grants
Grants to the value of £66,330 (2020: £32,295) were cancelled during the financial year as they were no longer required for the purposes for which they were awarded.
LEGAL AND ADMINISTRATIVE
The True Colours Trust (No. 1089893) was established under a Trust Deed dated 20 August 2001.
Trustees Lucy Sainsbury (Chair) Tim Price Dominic Flynn David Wood Registered Office The Peak, 5 Wilton Road, London SW1V 1AP Staff Karen Everett - Chief Operating Officer of the Sainsbury Family Charitable Trusts Jo Ecclestone Ford - Lead Executive of The True Colours Trust Catherine Gathercole - Executive of The True Colours Trust Bankers Child & Co 1 Fleet Street, London EC4Y 1BD Solicitors Portrait Solicitors 21 Whitefriars Street, London EC4Y 8JJ Auditors Crowe U.K. LLP 55 Ludgate Hill, London EC4M 7JW Investment Sarasin & Partners LLP Advisers Juxon House, 100 St Paul’s Churchyard, London EC4M 8BU Investment The Trust Deed empowers the Trustees to appoint investment Powers advisers who have discretion to invest the funds of the Trust within guidelines established by the Trustees. Objects The objects of the Trust as given in the Trust Deed are for general charitable purposes.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.
Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Trust and of its net outgoing resources for that period. In preparing these financial statements, the Trustees are required to:
➤ select suitable accounting policies and then apply them consistently;
➤ make judgments and estimates that are reasonable and prudent;
➤ state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
➤ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Trust’s transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees’ Report has been approved by the Trustees on 2 December 2021 and signed on their behalf by:
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Trustee
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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE TRUE COLOURS TRUST
Opinion
We have audited the financial statements of The True Colours Trust (‘the charity’) for the year ended 5 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In our opinion the financial statements:
• give a true and fair view of the state of the charity’s affairs as at 5 April 2021 and of its income and expenditure, for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Independent auditor’s report to the trustees of the True Colours Trust continued
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
• the information given in the financial statements is inconsistent in any material respect with the Trustees’ report; or • sufficient and proper accounting records have not been kept by the charity; or
• the financial statements are not in agreement with the accounting records and returns; or
• we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees’ responsibilities statement set out on page 24, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity’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 charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of
the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilites This description forms part of our auditor’s report.
Extent to which the audit was considered capable of detecting irregularities,
including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.
Independent auditor’s report to the trustees of the True Colours Trust continued
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR).
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrep-
resentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP Statutory Auditor
London Date 16 December 2021
Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Notes Income and endowment from: Gif of expendable endowment Grant received Investments 2 Bank interest and short term deposits Total income Expenditure on: Raising funds: Investment management costs Charitable actvites Grant-making: Grant expenditure 3 Grant related support costs 4 Cost of grant-making Total expenditure Net operatng (defcit)/surplus Net gains/(losses) on investments 7 Net gains on currency exchange Transfers between funds 10 Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward |
Total Funds 2020 Total Funds 2021 Expendable Endowment Unrestricted Funds Restricted Funds |
|---|---|
| £ £ £ £ £ - - 1,250,000 1,250,000 1,437,500 - 300,000 - 300,000 322,662 - - 322,662 297,636 12,244 - - 12,244 43,261 |
|
| 334,906 300,000 1,250,000 1,884,906_1,778,397_ |
|
| - - 47,825 47,825 50,563 2,840,071 300,000 - 3,140,071_2,348,685_ 289,061 - - 289,061 331,310 |
|
| 3,129,132 300,000 - 3,429,132_2,679,995_ |
|
| 3,129,132 300,000 47,825 3,476,957_2,730,558_ |
|
| (2,794,226) - 1,202,175 (1,592,051)(952,161) - - 1,741,325 1,741,325_(604,150) - - - - _43 2,794,226 - (2,794,226) - - |
|
| - - 149,274 149,274_(1,556,268) - - 11,441,938 11,441,938_12,998,206 |
|
| - - 11,591,212 11,591,212_11,441,938_ |
The notes on pages 31 to 38 form part of these accounts.
BALANCE SHEET AS AT 5 APRIL 2021
| FIXED ASSETS Tangible fxed assets Investments CURRENT ASSETS Debtors Cash at bank and in hand CURRENT LIABILITIES Creditors- amounts falling due within 1 year NET CURRENT ASSETS NET ASSETS CAPITAL FUNDS Expendable endowment INCOME FUNDS Unrestricted funds |
Notes | 2021 | 2020 | |
|---|---|---|---|---|
| 6 7 8 9 10 10 |
£ 79,934 2,372,517 2,452,451 1,698,202 |
£ 21,315 10,815,648 |
£ 9,760 9,131,140 |
|
| 10,836,963 | 9,140,900 | |||
| 754,249 | 366,693 4,210,677 |
|||
| 4,577,370 2,276,332 |
||||
| 2,301,038 | ||||
| 11,591,212 | 11,441,938 | |||
| 11,591,212 - |
11,441,938 - |
|||
| 11,591,212 | 11,441,938 |
The financial statements were approved and authorised for issue by the Trustees on 2 December 2021 and were signed on their behalf by:
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Trustee
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The notes on pages 31 to 38 form part of these accounts.
CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2021
Cash flows from operating activities:
| Cash fows from operatng actvites: | |||
|---|---|---|---|
Net cash used in operatng actvites Cash fows from investng actvites: Purchase of investments Fees deducted at source Dividends and Interest Net cash used in investng actvites Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Change in cash and cash equivalents due to exchange rate movements Cash and cash equivalents at the end of the year |
2021 | 2020 | |
| £ (2,229,744) (26,726) 78,145 334,767 |
£ (940,453) (4,006,300) 67,436 303,153 |
||
| 386,186 | (3,635,711) | ||
| (1,843,558) 4,216,075 - |
(4,576,164) 8,792,196 43 |
||
| 2,372,517 | 4,216,075 |
Reconciliation of net expenditure to net cash flow from operating activities
Net movement in funds (as per the Statement of Financial Actvites) (Gains)/losses on investments Exchange gains Dividends and interest Depreciaton charge Decrease/(increase) in debtors (Decrease)/increase in creditors Fixed asset additons Net cash used in operatng actvites Analysis of the cash and cash equivalents Cash at bank and in hand Cash held for reinvestment (as per note 7) |
2021 2020 £ £ 149,274 (1,556,268) (1,741,325) 604,150 - (43) (334,767) (303,153) 7,619 4,880 286,759 (72,935) (578,130) 382,916 (19,174) - (2,229,744) (940,453) 2021 2020 Change in year |
2021 2020 |
|---|---|---|
| £ £ 149,274 (1,556,268) (1,741,325) 604,150 - (43) (334,767) (303,153) 7,619 4,880 286,759 (72,935) (578,130) 382,916 (19,174) - |
||
| (2,229,744) (940,453) |
||
| £ £ £ 2,372,517 4,210,677 (1,838,160) - 5,398 (5,398) |
||
| 2,372,517 4,216,075 (1,843,558) |
The notes on pages 31 to 38 form part of these accounts.
NOTES TO THE ACCOUNTS
1. PRINCIPAL ACCOUNTING POLICIES
The True Colours Trust is an unincorporated charity (charity registration number 1089893), registered in England and Wales. The address of the registered office is The Peak, 5 Wilton Road, London, SW1V 1AP.
a) Basis of preparation
The financial statements have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Trust constitutes a public benefit entity as defined by FRS102.
Having assessed the Trust’s financial position and plans for the foreseeable future, the Trustees are satisfied that it remains appropriate to prepare the financial statements on the going concern basis. The investment portfolios have
performed strongly during the year and have recovered the reduction in value, caused by the impact of the Covid-19 pandemic, reported for last year. The endowment assets of the Trust remain significant, and these will continue to return income to the Trust. The level of income generated by the portfolios has now stabilised and the Trust will continue to pay out to its beneficiaries in accordance with the provisions of the Trust Deed.
b) Income
Income is shown gross, including the associated tax credit unless the tax so deducted is considered irrecoverable.
Dividends are included by reference to their due dates.
Interest is recorded when it is receivable.
c) Expenditure
Costs of generating funds represent amounts paid to the Trust’s external investment advisors.
Charitable activities expenditure comprises grants and donations awarded by the Trustees in accordance with the criteria set out in the Trust Deed, together with grant related support costs.
Grants for which there is a legally binding commitment are accounted for within the Statement of Financial Activities. Payments that are due within one year of the periodend date are included within grants payable in the Statement of Financial Activities. Other grants are accounted for in the Statement of Financial Activities when conditions attaching to the grant are fulfilled.
Grant related support costs represent staff, office and governance costs incurred in managing the grant award programme.
d) Costs of administration
These costs include a share of the staff and office costs of the joint offices of the Sainsbury Family Charitable Trusts, which are allocated in proportion to the time spent on Trust matters and grants paid.
Notes to the accounts continued
e) Governance costs
Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulation and good practice. These costs include fees for statutory audit and legal fees where relevant.
f) Investments
Net realised and unrealised gains and losses are reflected in the Statement of Financial Activities. Investments are shown at mid market value. Partial disposals are accounted for using average book value.
g) Financial instruments
The Trust has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with accrued interest and other debtors. Financial liabilities held at cost comprise grants payable and accruals.
lnvestments, including bonds held as part of an investment portfolio, are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.
At the balance sheet date the Trust held financial assets at fair value of £10,815,648 (2020: £9,131,140).
h) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand, and short term deposits.
i) Fixed assets
Fixed assets are depreciated at rates which reflect their useful life to the Trust. Leasehold Improvements are depreciated over the life of the lease.
j) Critical accounting judgements and key sources of estimation uncertainty
ln the application of the Trust’s accounting policies, which are described in note 1, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.
ln the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.
2. INCOME FROM INVESTMENTS
Income received on investments may be analysed as follows:
Sarasin mult assets |
2021 2020 |
|---|---|
| £ % £ % 322,662 100 297,636 100 |
|
| 322,662 100 297,636 100 |
Notes to the accounts continued
3. GRANTS PAYABLE
| 3. GRANTS PAYABLE | |||
|---|---|---|---|
Reconciliaton of grants payable: Commitments at 6 April 2020 Grants not accrued at 6 April 2020 Grants approved in the year Grants cancelled or refunded Grants not accrued at 5 April 2021 Grants payable for the year Grants paid during the year Commitments at 5 April 2021 Commitments at 5 April 2021 are payable as follows: Within one year (note 9) |
2021 | 2020 | |
| £ £ 2,137,313 265,083 4,166,097 (66,330) (1,224,779) 3,140,071 (3,625,812) 1,651,572 2021 £ 1,651,572 |
£ 506,495 2,139,568 (32,295) (265,083) |
£ 1,786,891 |
|
| 2,348,685 (1,998,263) |
|||
| 2,137,313 | |||
| 2020 | |||
| £ 2,137,313 |
Commitments
In addition to the amounts commited and accrued noted above, the Trustees have also authorised certain grants which are subject to the recipient fulfilling certain conditions. The total amount authorised but not accrued as expenditure at 5 April 2021 was £1,224,779 (2020: £265,083).
The grants payable in the year include the following:
| The grants payable in the year include the following: | |
|---|---|
| UK– Disabled Children & Children’s Palliatve Care | £ |
| CW+ | 99,781 |
| Childhood Bereavement Network | 235,215 |
| Contact a Family | 86,370 |
| Jessie May Trust | 150,000 |
| Medical Mediaton Foundaton | 61,720 |
| Muscular Dystrophy UK | 98,745 |
| On Road Media | 163,818 |
| Rainbow Trust Children’s Charity | 100,000 |
| Sibs | 57,759 |
| WellChild | 100,000 |
| Grants Up to £50,000 were also payable | 93,906 |
| Africa – Palliatve Care(including Small Grants) African Palliatve Care Associaton Island Hospice & Healthcare Kenya Hospices and Palliatve Care Associaton (KEHPCA) Palliatve Care Associaton of Malawi Signal Grants up to £50,000 were also payable SmallGrants UK and Sainsbury Archive Grants up to £10,000 were payable totalling Total grants payable per Statement of Financial Actvites |
£ 310,296 263,199 300,000 497,084 88,443 35,165 398,570 |
|---|---|
| 3,140,071 |
Notes to the accounts continued
4. ALLOCATION OF SUPPORT COSTS
| Staf costs Share of joint ofce costs Direct costs including travel Legal and professional fees Consultancy Depreciaton Auditors’ remuneraton |
Grant Making Governance 2021 Total 2020 Total |
|---|---|
| £ £ £ £ 193,467 1,992 195,459_215,488_ 60,179 - 60,179 55,295 8,866 - 8,866 26,951 7,572 - 7,572 9,099 2,000 - 2,000 15,667 7,619 - 7,619 4,880 - 7,366 7,366 3,930 |
|
| 279,703 9,358 289,061_331,310_ |
5. ANALYSIS OF STAFF COSTS
| 5. ANALYSIS OF STAFF COSTS | |
|---|---|
Wages and salaries Social security costs Other pension costs |
2021 2020 |
| £ £ 159,773 174,818 17,334 19,544 18,352 21,126 |
|
| 195,459 215,488 |
The Trust is one of the Sainsbury Family Charitable Trusts which share a joint administration at the Registered Office. 2.6% of the total support and administration costs of these trusts have been allocated to the True Colours Trust (2019/20: 2.9%), including a proportionate share of the costs of employing the total number of staff serving in the office in 2020/21.
The actual number of staff employed during the year was 7, all on a part-time basis (2019/20: 11). This equates to 2.3 full-time employees (2019/20: 2.6). The Trust considers its key management personnel to comprise the Principal Officers. The total employment benefits, including employer contributions to group personal pensions, of those key management personnel, were £126,712 (2019/20: £160,189). No employees of the charity earned in excess of £60,000.
No Trustees received any remuneration for their services or reimbursement of expenses in the year (2019/20: £0).
Notes to the accounts continued
6. TANGIBLE FIXED ASSETS
Leasehold Improvements
| 6. TANGIBLE FIXED ASSETS |
|
|---|---|
| Leasehold Improvements Cost At 6 April 2020 Additons Cost at 5 April 2021 Depreciaton At 6 April 2020 Charge for the year At 5 April 2021 Net Book Value At 5 April 2021 Net Book Value At 5 April 2020 |
2021 2020 |
| £ £ 48,800 48,800 19,174 - |
|
| 67,974 48,800 |
|
| 39,040 34,160 7,619 4,880 |
|
| 46,659 39,040 |
|
| 21,315 9,760 |
|
| 9,760 14,640 |
7. FIXED ASSET INVESTMENTS
| Market value at 6 April 2020 Add: Acquisitons at cost Less: Fees deducted at source Net gains/(losses) on investments Market value at 5 April 2021 Cash held for reinvestment Total Investments |
2021 2020 |
|---|---|
| £ £ 9,125,742 5,791,028 26,726 4,006,300 (78,145) (67,436) 1,741,325 (604,150) |
|
| 10,815,648 9,125,742 |
|
| - 5,398 |
|
| 10,815,648 9,131,140 |
The investments held as at 5 April 2021 were as follows:
| Sarasin mult assets | 2021 2020 |
|---|---|
| Cost Market Value Cost Market Value |
|
| £ £ £ £ 9,765,416 10,815,648 9,738,690 9,125,742 |
|
| 9,765,416 10,815,648 9,738,690 9,125,742 |
Notes to the accounts continued
8. DEBTORS
| 8. DEBTORS | |
|---|---|
| Income tax recoverable Accrued Income Other debtors |
2021 2020 |
| £ £ - 287,500 74,143 74,003 5,791 5,190 |
|
| 79,934 366,693 |
9. CREDITORS
| Grants payable within one year Professional charges Other creditors |
2021 2020 |
|---|---|
| £ £ 1,651,572 2,137,313 10,386 8,479 36,244 130,540 |
|
| 1,698,202 2,276,332 |
10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund balances at 5 April 2021 are represented by: Tangible fxed assets Investments Current assets Current liabilites Total net assets Movement in the year Opening balance as at 5 April 2020 Total income and endowments Cost of raising funds Cost of grant-making Net gains on investments Transfers between funds Closing balance as at 5 April 2021* |
Unrestricted Funds Restricted Funds Expendable Endowment Totals 2021 |
|---|---|
| £ £ £ £ - - 21,315 21,315 - - 10,815,648 10,815,648 1,698,202 - 754,249 2,452,451 (1,698,202) - - (1,698,202) |
|
| - - 11,591,212 11,591,212 |
|
| - - 11,441,938 11,441,938 334,906 300,000 1,250,000 1,884,906 - - (47,825) (47,825) (3,129,132) (300,000) - (3,429,132) - - 1,741,325 1,741,325 2,794,226 - (2,794,226)- |
|
| - - 11,591,212 11,591,212 |
- During the year there was a deficit of income over expenditure on the unrestricted funds of £2,794,226 (2020: £2,339,098). This has been funded by a transfer from Expendable Endowment.
The Restricted Fund was a grant from The Gatsby Charitable Foundation towards the Trust’s work in Kenya with the Kenya Hospices and Palliative Care Association.
Notes to the accounts continued
11. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS FOR THE YEAR ENDED 5 APRIL 2020
| Fund balances at 5 April 2020 are represented by: Tangible fxed assets Investments Current assets Current liabilites Total net assets Movement in the year Opening balance as at 5 April 2019 Total income and endowments Cost of raising funds Cost of grant-making Net losses on investments Net gains on currency exchange Transfers between funds Closing balance as at 5 April 2020 |
Totals 2020 Expendable Endowment Unrestricted Funds |
|---|---|
| £ £ £ - 9,760 9,760 - 9,131,140 9,131,140 2,276,332 2,301,038 4,577,370 (2,276,332) -(2,276,332) |
|
| - 11,441,938 11,441,938 |
|
| - 12,998,206 12,998,206 340,897 1,437,500 1,778,397 - (50,563) (50,563) (2,679,995) - (2,679,995) - (604,150) (604,150) - 43 43 2,339,098 (2,339,098) - |
|
| - 11,441,938 11,441,938 |
Notes to the accounts continued
12. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2020
| Income and Endowment from: Gif of expendable endowment Investments Bank deposit interest and other income Total income Expenditure on: Raising funds: Investment management costs Charitable actvites Grant-making: Grant expenditure Grant related support costs Cost of Grant-making Total expenditure Net operatng (defcit)/surplus Net losses on investments Net gains on currency exchange Transfers between funds Net movement in funds Reconciliaton of funds Total funds brought forward Total funds carried forward |
Total Funds 2020 Expendable Endowment Unrestricted Funds |
|---|---|
| £ £ £ - 1,437,500 1,437,500 297,636 - 297,636 43,261 - 43,261 |
|
| 340,897 1,437,500 1,778,397 |
|
| - 50,563 50,563 2,348,685 - 2,348,685 331,310 - 331,310 |
|
| 2,679,995 - 2,679,995 |
|
| 2,679,995 50,563 2,730,558 (2,339,098) 1,386,937 (952,161) - (604,150) (604,150) - 43 43 2,339,098 (2,339,098) - |
|
| - (1,556,268) (1,556,268) - 12,998,206 12,998,206 |
|
| - 11,441,938 11,441,938 |
13. RELATED PARTY TRANSACTIONS
Included in grant-related support costs is £7,572 payable for legal services to Portrait Solicitors (2020: £9,099), a firm in which Mr D Flynn is a partner. £3,020 (2020: £4,549) is outstanding at year end and has been included within accruals.
During the year to 5 April 2021, a donation of £1.25 million (2020: £1.44 million) was received from the Settlor who is a Trustee of the True Colours Trust.