| Total | Total | ||||
|---|---|---|---|---|---|
| unrestricted | unrestricted | ||||
| funds | funds | ||||
| 2022 | 2021 | ||||
| Note | 6 | ||||
| Income from: | |||||
| Donation income Investments |
2 3 |
1,325,000 154,112 |
25,000,000 82,170 |
||
| Total income | 1,479,112 | 25,082,170 | |||
| Expenditure on: |
|||||
| Raising funds Charitable activities |
5 6 |
(41,349) (4,206,807) |
(58,515) (5,023,677) |
||
| Total expenditure | (4,248,156) | (5,082,192) | |||
| Net (expenditure)/Income | before gains and losses | (2,769,044) | 19,999,978 | ||
| Net (losses)/gains | on investments | 8 | (3,667,342) | 1,160,802 | |
| Net (expenditure)/income | (6,436,386) | 21,160,780 | |||
| Other recognised | gains and losses: | ||||
| Gains/(losses) on foreign exchange |
160,599 | (10,816) | |||
| Net movement in funds |
(6,275,787) | 21,149,964 | |||
| Total funds brought forward | 13 | 19,756,r$1 | (1,393513) | ||
| Total funds carried forward | 13 | 13,480,664 | 19,756,451 |
| Charity number: 1091660 |
Charity number: 1091660 |
Note | Note | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| 6 | 6 | |||||
| Fixed assets | ||||||
| Investments | 8 | 20,600,567 | 30,099,526 | |||
| Current assets | ||||||
| Debtors | 9 | 17,155 | 22,906 | |||
| Cash at bank | 88„365 | 8,476 | ||||
| Total current assets | 105,520 | 31,382 | ||||
| Liabilities | ||||||
| Amounts falling due within one year |
10 | (3,574,392) | (4,954,179) | |||
| Net current liabilities | (3,468,872) | (4,922,797) | ||||
| Total assets less current liabilities | 17,131,695 | 25,176,729 | ||||
| Amounts falling due after |
one year | 11 | (3,651,031) | (5,420,278) | ||
| Total net assets | 14 | 13,480,664 | 19,756,451 | |||
| The Funds ofthe Trust: | ||||||
| Unrestricted funds |
13 | 13,480,664 | 19,756,451 | |||
| The financial statements | were approved | by the trustees and authorised | for issue on | 4~ | and signed | |
| on their ehalfby: |
||||||
| KER s g |
||||||
| Trustee |
| Note | 2022 | 2021 | |||||
|---|---|---|---|---|---|---|---|
| 8 | |||||||
| Net cash (used in)/provided | by operating | activities | 15 | (6,338,972) | 20,762,190 | ||
| Cash flows from investing | activities: | ||||||
| Dividends, interest and rents from investments |
158,463 | 60,664 | |||||
| Proceeds from sale ofinvestments | 8 | 49,158,178 | 92,609,600 | ||||
| Purchase of investments | 8 | (44,283,110) | (117,923,825) | ||||
| Net cash from/(used in) investing activities |
5,033,531 | (25,253,561) | |||||
| Change in cash and cash | equivalents | in | the reporting | period | (1,305,441) | (4,491,371) | |
| Cash and cash equivalents | at the beginning | ofyear | 16 | 1,559,037 | 6,102,846 | ||
| Movement on revaluation offoreign cash |
109,335 | (52,438) | |||||
| Cash and cash equivalents | at the end | of | year | 16 | 362,931 | 1,559,037 |
| 2 | Donation | Income | ||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| 6 | 6 | |||||||
| Donation | from founding | member | 25,000,000 | |||||
| Gift aid | 1,325,000 | |||||||
| 1,325,000 | 25,000,000 | |||||||
| Donation | income was fully | unrestricted | in the current and prior year. | |||||
| 3 | Investment Income |
|||||||
| 2022 | 2021 | |||||||
| Dividends | and distributions | 136,498 | 82,170 | |||||
| Deposit interest income | 15,395 | |||||||
| Interest received from HMRC | 2,219 | |||||||
| 154,112 | 82,170 | |||||||
| Investment income was fully unrestricted |
in the current and prior year. | |||||||
| 4 | Net (expenditure)/income | |||||||
| 2022 | 2021 | |||||||
| Net (expenditure)/income | is stated after charging: | |||||||
| Auditors | remuneration | —audit | 22,800 | 14,200 | ||||
| Auditors | remuneration | —accountancy | and other services | 4,056 | 1,800 |
| 5 | Expenditure | on Raising | Funds | Funds | ||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| 6 | ||||||
| Investment | management | fees | 18,042 | 17,001 | ||
| Commission | and other charges | 23,307 | 41,514 | |||
| 41,349 | 58,515 | |||||
| 6 | Expenditure | on Charitable | activities | |||
| 2022 | 2021 | |||||
| 6 | 6 | |||||
| Grants Governance |
costs: | 4,067,446 | 4,899,054 | |||
| Audit and accountancy fees Trust administration expenses Legal and secretarial fees Consulting fees |
39,572 83,518 1,271 15,000 |
20,550 82,257 6,816 15,000 |
||||
| 4,208,807 | 5,023,677 | |||||
| 7 | Staff costs | |||||
| 2022 | 2021 | |||||
| 8 | 6 | |||||
| Wages and salaries Social security |
72,000 2,779 |
71,000 3,362 |
||||
| 74,779 | 74,362 |
| Investments | Investments | Investments | Investments | Investments | |||
|---|---|---|---|---|---|---|---|
| The portfolio is structured to provide a wide range of diversification produce a balance of income and capital growth in accordance with |
to protect the Trust's benchmarks agreed with |
assets, and to the investment |
|||||
| manager. | |||||||
| 2022 | 2021 | ||||||
| 6 | 5 | ||||||
| Market value brought forward Additions Disposal proceeds Net realised (loss)/gain on disposals Exchange gain |
and revaluations | 28,548,965 44,283,110 (49,158,178) (3,687,342) 319,446 |
2,032,281 117,923,825 (92,609,600) 1,160,802 41,657 |
||||
| Market value carried forward Cash under management |
(excluding cash) | 20,326,001 274„566 |
28,548,965 1,550,551 |
||||
| Market value carried forward | 20,600,567 | 30,099,526 | |||||
| Historical cost carried forward | 21,365,765 | 28,145,216 | |||||
| Investments comprise: |
|||||||
| Fixed income securities (Listed) Funds Equities (Listed) Private equity FXforwards Cash |
3,061,548 6,836,676 10,427,708 69 274,566 |
2,520,626 9,009,179 16,503,546 5,543 410,071 1,550,561 |
|||||
| 20,600,567 | 30,099,526 |
| Holding | 2022 | |||
|---|---|---|---|---|
| 5 | ||||
| Bundesrepub ETF Ishares ETFSPDE JFK Capital |
Deutschfand Stoxx600 Uits Blomberg Barclays alternative SICAV |
3,025,000 34,269 35,000 5,156 |
2,747,945 1,270,924 2,887,880 5,875,535 |
14% 6% 14% 29% |
| 9 | Debtors | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 6 | |||||
| Prepayments and accrued income |
17,155 | 22,906 | |||
| 10 | Creditors: amounts | falling due within one year | |||
| 2022 | 2021 | ||||
| F | |||||
| Grants payable | (see | note 12) | 3,278,852 | 4,932,398 | |
| Accruais | 27,358 | 21,781 | |||
| Financial instruments |
268,182 | ||||
| 3,574,392 | 4,954,179 | ||||
| Financial instruments | represent the fair value movement | on foreign exchange contracts, | |||
| 11 | Creditors: amounts | falling due after one year | |||
| 2022 | 2021 | ||||
| 6 | |||||
| Grants payable | (see | note 12) | 3,651,031 | 5,420,278 | |
| 12 | Grants payable | ||||
| 2022 | 2021 | ||||
| 6 | |||||
| Amounts due: |
|||||
| Within one year After one year |
3,278,852 3,651,031 |
4,932,398 5,420,278 |
|||
| 6,929,883 | 10,352,676 | ||||
| Balance at 1 January 2022 Grants awarded in the year Grants paid in the year |
10,352,676 4,067,446 (7,490,239) |
9,524,815 4,899,054 (4,071,193) |
|||
| Balance at 31 December 2022 | 6,929,883 | 10,352,676 |
| Movement ofGrants in the year: |
||||
|---|---|---|---|---|
| Balance bfwd | Amount | Amount | Balance cfwd | |
| 1January | awards dr | paid In the | 31December | |
| 2022 | adjusted in year |
year | 2022 | |
| Action Against Hunger Addenbrooke's Charitable Trust Alzheimer's Research UK Action Aid Somalia Anne Robson Trust British Racing School David Shepherd Wildlife Foundation Ethiopiaid Goodwill Caravan Hope for the Young Ltd. Horatio's Garden International Rescue Committee - UK Kings Global Health Partnerships/King' s |
857,950 1,000,000 40,000 50,000 |
435,000 369,593 150,000 10,000 242,000 30,000 30,000 150,000 |
(435,000) (831,760) (1,000,000) (50,000) (10,000) (242,000) (25,000) (40,000) (30,000) (25,000) (150,000) |
26,190 369,593 100,000 5,000 25,000 |
| College Lund University Littlelifts Mary's Meals Medair Medecins Sans Frontieres Bentiu Secondary |
25,000 | 300,000 25,000 60,000 50,000 |
(25,000) (25,000) (60,000) (50,000) |
300,000 |
| Healthcare, South Sudan Medecins Sans Frontieres Kule and Tierkidi |
200,000 | (100,000) | 100,000 | |
| Refugee Camp, Ethiopia Medecins Sans Frontieres Maban Doro |
200,000 | (100,000) | 100,000 | |
| Refugee Camp, South Sudan Medecins Sans Frontieres Mother and Child |
200,000 | (100,000) | 100,000 | |
| Hospital, Taiz Houban, Yemen Medecins sans Frontieres - Pakistan Flood |
200,000 | (100,000) | 100,000 | |
| Response Medecins Sans Frontieres Rohingya, |
100,000 | (100,000) | ||
| Bangladesh Mercy Ships UK Murray Edwards College Newmarket Charitable Foundation Riding for the Disabled Association - RDA RVC Veterinary Research Dr Debbie Guest Royal Veterinary College Safehands Southern Thailand Elephant Foundation Spinal injuries association Stroke Association Suffolk Horse Society The Brooke Hospital forAnimals LTD The Fortune Centre of Riding Therapy The Prince's Trust The Soulsby Foundation The Virtual Doctors United Kingdom for UNHCR University ofCambridge - Afriica Project |
200,000 70,000 70,000 30,000 248,816 115,265 762,446 75,000 |
150,000 277,354 30,860 10,000 20,000 25,000 25,000 145,000 60,000 97,639 |
(100,000) (35,000) (35,000) (50,000) (10,000) (10,000) (20,000) (57,633) (351,800) (25,000) (60,000) (97,639) |
100,000 35,000 35,000 100,000 20,000 248,816 277,354 30,860 57,632 25,000 410,646 25,000 145,000 50,000 |
| (CAPREx) University ofCambridge - Dept. OfSurgery |
2,600,000 189,292 |
(1,000,000) | 1,600,000 189,292 |
|
| Balance cffwd | 7,133,769 | 2,792,446 | (5,350,832) | 4,575,383 |
| Movement ofGrants | in | the ye | ar | (c | ontin | ued) | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance bfwd | Amount | Amount | Balance cfwd | |||||||
| 1January | awardedl | paid in the | 31 December | |||||||
| 2022 | adjusted in year |
year | 2022 | |||||||
| Balance b/fwd from previous | page | 7,133,769 | 2,792,446 | (5,350,832) | 4,575,383 | |||||
| University ofCambridge |
"The Alborada | |||||||||
| Professorship" | 2,261,000 | (584,000) | 1,577,000 | |||||||
| University ofCambridge |
Stem cell Prof | |||||||||
| Tony Green | 240,000 | (120,000) | 120,000 | |||||||
| University ofSuffolk - paid |
by Barclays | |||||||||
| account | 1,250,000 | (1,250,000) | ||||||||
| University ofSurrey "Alborada Trust |
Well | |||||||||
| Foal Study" | 17,907 | (17,907) | ||||||||
| Wavertree Trust |
60,000 | 50,000 | ||||||||
| We Are Hope Church | 25,000 | (7,500) | 17,500 | |||||||
| Wolfson College Cambridge | 640,000 | (160,000) | 480,000 | |||||||
| Total | 10,352,676 | 4,067,446 | (7,490,239) | 6,929,883 | ||||||
| Grant movement in |
the | prior | year | |||||||
| Balance bfwd | Amount | Amount | Balance cfwd | |||||||
| 1January | awardedi | paid in the | 31December | |||||||
| 2021 | adjusted in year |
year | 2021 | |||||||
| Addenbrooke's Charitable |
Trust | 948,060 | (90,110) | 857,950 | ||||||
| Alzheimer's Research |
UK | 2,000,000 | (1,000,000) | 1,000,000 | ||||||
| Action Aid Rohingya | 100,000 | (100,000) | ||||||||
| Action Aid UK - Cyclone | Idai | 120,000 | (120,000) | |||||||
| Action Against Hunger |
(Uganda, | Haiti and | ||||||||
| Afghanistan) | 427,800 | (427,800) | ||||||||
| ActionAid UK Supporter |
Payments | (Tigray | ||||||||
| conflict Ethiopia) | 150,000 | (150,000) | ||||||||
| Anne Robson Trust | 40,000 | (40,000) | ||||||||
| The British Racing School | 10,000 | (10,000) | ||||||||
| David Shepherd Wildlife |
Foundation | 232,500 | (232,500) | |||||||
| Goodwill Caravan | 40,000 | 40,000 | ||||||||
| Great Ormond Street | 200,000 | (200,000) | ||||||||
| Horatio's Garden | 75,000 | (25,000) | 50,000 | |||||||
| Karen Hilltribes Trust |
25,000 | (25,000) | ||||||||
| Kings Global Health Partnerships/King' | s | |||||||||
| College Medecins Sans Frontieres |
Shatila | 50,000 | (25,000) | 25,000 | ||||||
| Refugee Camp Medecins Sans Frontieres |
Maban | Doro | 85,855 | (85,855) | ||||||
| Refugee Camp, South Sudan Medecins Sans Frontieres Rohingya, |
285,855 | (85,855) | 200,000 | |||||||
| Bangladesh | 285,855 | (85,855) | 200,000 | |||||||
| Total | 2,445,000 | 2,430,925 | (2,502,975) | 2,372,950 |
| Grant movement in the prior year (cont |
inued) | |||
|---|---|---|---|---|
| Balance bfwd | Amount | Amount | Balance cfwd | |
| 1 January | awardedi | paid in the | 31 December | |
| 2021 | adjusted in year |
year | 2021 | |
| Balance b/fwd from previous page Medecins Sans Frontieres Bentiu |
2,445,000 | 2,430,925 | (2,502,975) | 2,372,950 |
| Secondary Healthcare, South Sudan Medecins Sans Frontieres Kule and |
300,000 | (100,000) | 200,000 | |
| Tierkidi Refugee Camp, Ethiopia Medecins Sans Frontieres Mother and |
300,000 | (100,000) | 200,000 | |
| Child Hospital, Taiz Houban, Yemen Medecins Sans Frontieres Earthquake |
300,000 | (100,000) | 200,000 | |
| response Haiti Medical Detection Dogs Mercy Ships UK Murray Edwards College Multiple Sclerosis Society Priscilla Bacon Norfolk Hospice Care Ltd The Queen Elizabeth Scholarship Trust |
105,000 100,000 |
100,000 10,000 105,000 100,000 |
(100,000) (10,000) (35,000) (35,000) (100,000) (100,000) |
70,000 70,000 |
| Ltd Riding for the Disabled Association- |
9,400 | (9,400) | ||
| RDA RVC Veterinary Research Dr Debbie |
30,000 | 30,000 | ||
| Guest Stroke Association The Brooke Hospital for Animals LTD The Princes Trust The Racing Foundation The Soulsby Foundation University ofCambridge- Dept. Of |
299,756 145,673 100,000 |
115,265 1,070,557 10,000 |
(50,940) (308,111) (145,673) (10,000) (25,000) |
248,816 115,265 762,446 75,000 |
| Surgery University ofCambridge - Africa Project University ofCambridge "The Alborada |
189,292 2,600,000 |
189,292 2,600,000 |
||
| Professorship" University ofCambridge Stem cell Prof |
2,261,000 | 2,261,000 | ||
| Tony Green University ofCambridge Prof James |
240,000 | 240,000 | ||
| Wood University ofSurrey "Alborada Trust Well |
100,000 | (100,000) | ||
| Foal Study" Wavertree Trust Wolfson College Cambridge |
69,094 70,000 800,000 |
17,907 | (69,094) (10,000) (160,000) |
17,907 60,000 640,000 |
| Total | 9,524,815 | 4,899,054 | (4„071,193) | 10,352,676 |
| 13 | Funds | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At 1January | Incoming | Outgoing | At 31 | |||||||||
| 2022 | resources | Resources | Gains/(losses) | December 2022 | ||||||||
| E | E | E | E | E | ||||||||
| Unrestricted Funds |
19,758,451 | 1,479,112 | (4,248,155) | (35Q5 743) | 1348Q 554 | |||||||
| At 1 January | Incoming | Outgoing | Gains/(losses) | At 31 | ||||||||
| 2021 | resources | Resources | December 2021 | |||||||||
| E | E | E | E | E | ||||||||
| Unrestricted Funds |
(1,393,513) | 25,082,170 | (5,082,192) | 1,149,986 | 19,756,451 | |||||||
| 14 | Analysis ofnet assets | between | Funds | |||||||||
| 2022 | 2021 | |||||||||||
| Unrestricted | Unrestricted | |||||||||||
| E | E | |||||||||||
| Investments | 20,600,567 | 30,099,526 | ||||||||||
| Net current liabilities |
(3,468,872) | (4,922,797) | ||||||||||
| Liabilities due in more than one | year | (3,651,031) | (5,420,278) | |||||||||
| 13,480,664 | 19,756,451 | |||||||||||
| 15 | Reconciliation ofnet (expenditure)/income |
to net cash | flow from | |||||||||
| operating activities |
||||||||||||
| 2022 | 2021 | |||||||||||
| E | E | |||||||||||
| Net (expenditure)/income | for | the reporting | period | (6,436,386) | 21,160,780 | |||||||
| Adjustments for: |
||||||||||||
| Losses/(gains) on investments Dividends, interest and rents from Decrease in debtors (Decrease)/increase in creditors |
investments | 3,687,342 (154,112) 1,400 (3,417,218) |
(1,160,802) (82,170) 7,487 836,895 |
|||||||||
| Net cash (used in/)provided | by | operating | activities | (6,338,972) | 20,762,190 | |||||||
| 16 | Analysis ofcash and | cash | equivalents | |||||||||
| 2022 | 2021 | |||||||||||
| E | E | |||||||||||
| Cash at bank and in hand Cash held by investment |
manager | 88,365 274,566 |
8,476 1,550,561 |
|||||||||
| 362,931 | 1,559,037 |
| At 31 | |||||||
|---|---|---|---|---|---|---|---|
| At 1January | Foreign | December | |||||
| 2022 | Cash flows | Exchange | 2022 | ||||
| F | E | E | |||||
| Cash at | bank and | in hand | 8,476 | 79,889 | 88,365 | ||
| Cash held in investments |
1,550,561 | (1,385,330) | 109,335 | 274,566 | |||
| 1,559,037 | (1,305441) | 109,335 | 362,931 | ||||
| Financial | instruments | ||||||
| 2022 | 2021 | ||||||
| F | |||||||
| Financial | assets held at fair value through | profit and loss | 20,328,001 | 28,548,965 | |||
| Financial | assets held at amortised cost | 451,296 | 1,580,543 | ||||
| Financial | liabilities | held at amortised cost | (6,957,241) | (10,374,457) | |||
| Financial | liabilities | held at fair value through | profit and loss | (268,182) |