2021-03-31-accounts

F￿(AsTER￿ CHAIVTY fiiMBEFL' lo￿12 Un8￿￿ed FinaxMI s1alen1ertsf￿ ENled 31 IWch 2021 glomfiebts The CourtfaTd 33 Duke Street Trowbnd V￿.￿shI DA14 8EA

Cortwrts rfthe F￿￿￿la1 Statemerts FLKi THE YE*Ji E￿ED 31 IAWICH 2021 Paue Rewl rf Tfustees 1 10 3 Nrtes tothe F•w￿la1 Statemerts 7 10 11

FLKi THE YEJi E￿ED 31 IAWICH 2021 The 1nJSte￿ present their report the financia slalemerÈ of the chanty for the yEar ended 31 March 2021. The InjSte￿ ha¥e arjoplerj the protsisions of Actounling anrj Reportyr¥3 by Charibe> Statement of Recommenclgy Practice appli¢abÈ lo charities preparing their accounts in accordan￿ wth the Financia Re￿O￿"r0 Slandaitj applicalme In the UK and Republ￿ of Irelantj IFRS 1021 leffeclive 1 January 20191. OWECTIVES ACTMTES Objects The Trustees shal holrjthe Trust Fund andlhe incoNethereof uponTrusl lo pay or apptythe incowe and all or such part or parts of Ihe caprtal ofihe TruslFund aslhe Trustees shallhink rrt lor.. The relief of poveitr, The advancementof educaliori The advancement Df religim and¢or. Such other charrtabk purpose5 an￿ere in Ihe worfd asthe Trustees may detemiine. Significant Aclmties The Trustee Board conlinuLyJ lo male grants ￿lIa￿￿ to oiganisakns well knon to the Trustees or where the Trustees had undertaken a thorou￿ review before decidirKJto donate. The oranl cnleria recenlty been re￿￿¥Ve(l and no further Chan￿ were mats thisyear. The grantees will continue lo fil into the crrteria Outlin￿ underthe Grant makiNJ policy below. Puljlic benerrt The Trustees have taken account of Chartty Commissmg guidancs on publr benefrt in maknng their decisiors about grants. Grants are oeneralPI only gNen to reoistetpd tharilies. The Charivs arrts are broad ancl we are confident therefore that all oran are consistertwilh those aims. Any private benefitarisry woukJ be in¢irJenta anrj Insignificart maklnu pollcy The Trustees do not resptnj to unsolicibj applicab'ors. Crtteriafor grants are re￿i￿￿ed on a regular basis The lalestrevi8¥V h led lo focussing a subslanl'al prop0￿C￿ of the amou￿ donated on a sm81 numbu of larger and regul¥ dDnalion& These are generallyto organisalorB well knownto the Trustees or here the Trustees undertaken a Ihorouth rehiew before decidiro lo donate. The Iruslees are increasingtheir donalic¥B inlhe area of ¢onservakn"orL both localty and inlemakn"onalty. knother increased elemert Is supporh'ng community organisakns localty. Both1hese polic￿ shuw1hrough in the grant matk in the lasttswo years. The trustees are also supportir¥J bmo fairfy new charth'es wrti longer-term commrtmerÉ, subjeLtto sab'stsctory performance These changes in Strate￿ have led lo dOnati￿ts conts"nuiNJ al a high le¥el. The increase has been funrjed by the sak of r￿eSIMerts and conlribuliortsfrom the Trusfs founders. The Trustees a preference their strateg donabcfts for Smal￿ organisakns where they feel thelr Contribution ￿11 have a greater impact ACHIEVEMENT A￿1 PEITOWIKE Financ￿1 review The Trustees have Continued their poliry ol supportru ott)er charibes throuoh grants lolalliro £484.425 (2020". £569,585). There were donations recer￿￿ in the year of £6T5,0Tr) (2020." £100,000) Gnl aid recèrled lolalled £86,69] (2020 £47.50U) The Ch&rrt receNed inveslmert income of £54g (2020".£89.162). After lakino into account expenses or £1.357 (2020.. £3.369) and a unrea1¢setJ gal￿005$) on ftxed asset investments of £7.673 {2020.' £51,686).the funcjs of the Chanty increawj rJuriNJ Ihe year by £284.09J12020 decrease £388.248J The Trustees consider the financial posttKn of the funts of the Charty lo be salj'sfactoryand they anticipale no dilTIcu￿ in meeting the obligat￿nS of the Charity. Page 1

FLKi THE YEJi E￿ED 31 IAWICH 2021 FINANCIAL REVIEW IM￿Stment powers The Trustges may Ir￿estIhe propeity of the Charrtf in su¢h irNestmerts as are authoriseo by Ihe Trustee Act 2000. subject lo the reslri¢li(rts and conditions contain&J in IhAcl. Duriw the year, the Trustees continued to principalty use T11n￿ Asset Managemert to Mana￿ their investment The equ Inveslmertwas reyalued to markelvalue at the year end. ReSeTh￿ pol 11 is the poliry of the Trusteeslo mainlan unrestrict￿(￿￿ds. tothich are the free reseNes of tt)e Charity al a level al least sufficient enab￿ the Charity to maintan its regular grant commitrrHts for years in Ihe event of a substsnlal fall in Ihe Charity intome or in the value of its Investment". ii. enable the Charity lo respoDJ to emeroenry applicat1￿5 for orants vthich ansefromts.meto I'me.. an ii. ¢thEr managemwl adminislrakn and support costs lor oneyear. Unreslrict&Yfunds were maintained at this level throughoJJthe year. STRIICTURE. GOVERMANCE A￿1 DAANA(￿lT Conslrtulion and Hislo The charity Is oovernerj by a TnJsl Deed dated 3 Decemtw2002. Oiganisation of the Chdty The Trustees namKI Dn page 1 have serv8d through0￿ the ￿ar. Trustees are selected and appointel by the Trustee board. Trustees are induclerj and trained by the Trustee Boarrj. ljl decisthms are ma& by the TnJslees. RJ"sk m￿lage￿* The Trustees have idenkn.fied and revoewed tt)e maj(r risls to vrt)i¢h tt)e Charity Is expos&J and have estsblbthd processes and Contro￿ to mth'gaÈ those risks. REFERENCE AND A[x￿lsTAATI¥E tETPIS Registered Charity Nmber 1096342 Piincipal address Hillside Farm Church Lane Freshforrj Bath BA2 7WD TTUStees S J R Dawson Mrs B Daw Independert Exrnr lomfielt The Coutyard 32 Duke Street Trowbridoe Vllillshire BA14 8EA Asset M¥mgBr Tilney AsselMan8gementLimrtgJ 6 Chpslerfidd Garder Mairtair London VV1 J 5BQ Page 2

FLKi THE YE*Ji E￿ED 31 IAWICH 2021 Approved by orderof1he board of trustees on . and Sig￿ts on its behalfty. S J R Dawson- Trustee Page 3

C￿la11 Tiusl Independent eX￿￿er5 rewrtlo the tsustees(rf Colh Trust I reportlo the charity Iruslees on my examinaliLn of the accounts of CobaltTrusl Ohe TrusDfor the year ended 31 March 2021. ResponsNlities aThl basis of weport As the charity trustees of the TnJslyou are respon for Ihe preparab.cn of Ihe accounts in accordance wrth the requiremerts of the Charitss Act 2011 (Ihe Act). I report in respect of ryry examinatiL￿ of the Trusys accounts carried out under secliLY1 145 of the Act and in carrying out rry examinalicn I have follow&J all applicab￿ Directh"oYB gNen by the Chartty COmm￿s￿ underseckn.on 145151(bl of the Act. pendert exrnr slaemert Since your charity's orcÉs income exceeded £250,OLiI wjur examiner musl be a Mem1￿ of a lislay botty. l Can confinn that l am qualifi￿ lo undertaklhe examinabon because l am a regislergj memtMof_whi¢h Is one of the liSt￿j bodies. I have completEd my examination. I confim that no materia matter5 have con to attention in connection wrth the examination gwing me cause lo believethat In any materia respect accounting recordswere not kept In respett orthe Trust as requirgj by se¢b"Th) 130 ofkne Art or the accounts do not a¢cordilh those records, or the accounts do not compty wrth the applicat reouiremrt ¢on¢emir¥J the fom) and content of accounts sel OLrt in the Charities Occounls and Reports) Regulat(KB 2008 otherthan any requirementthat the accounts give a Inje and fair biew which is not a matterconsider&J as part of an IndepenrJw examinabon I have no concerns and have come across no otrer matters in Connects"C￿ wth the examinab.on to which attents.on shoLlrJ be drawn In tris report in order lo enable a proper underStanL￿ of the accounts lo be reached. Stephen Foster FCA Dlomfielcts The Courtiartj 33 Duke Street Trowbridge Vlliltshire BA14 8EA Dale.. Page 4

FLKi THE YE*Ji E￿ED 31 IAWICH 2021 2020 Total funds iknfestricted fund Notes INCOME PJID E￿)C￿llE￿rS FROM Donaliorts and legac1es 761ffj51 147,500 Inyestrnenl incou 549 Total 7611 236,662 EXPENDITURE OM Raisro funrjs 616 2,307 Charrtable ￿t￿leS Grants payable 484,425 569,585 other 741 Total 5T3,224 Net gainslllossesl on investrner 51 6861 NET INCOMEAEXPENtMTUR (38B,248) RECOKILIATIOM FUI4)S Total funds I￿Oug￿ [￿ward 25114 623,362 TOTAL FUl￿s CAAIJED FOIVIAIID 519 235114 The nO￿forM partofthese financiaststemerts Page 5

31 I1￿{CH 2021 2020 Total funds iknfestricted fund Notes FI￿) ASSEtS Investments 20,272 CURRENT ASSETS Investments Cash at bank 876 33,832 182210 4592TI 216,042 CREDIT Amounts falling rjue ￿ltr}in oneyear VW24) (1.2001 NET CURRBIT ASSETS 214842 TOTAL ASSETS LESS CiIIRENT LLIBIUTIES 519201 235,114 NET ASSETS 519 235114 FUNDS Unreslri¢letJfunts 519 235114 TOTAL FUNDS 519 235114 The financia statemertswere approved by the 8oard of Truslees and authoris&J for IS￿ on............................................. antjwere slows on its behalf by. S J R Dawson- Trustee B DaW￿￿- Trustee The nO￿forM partofthese financiaststemerts Page 6

Notesto the F1w￿la1 Staemerts FLKi THE YEJi E￿ED 31 IAWICH 2021 ACCOiNTING F￿lEs Basis (rf preparing Ihe fina￿1& slatwwts General informats.on and basis of preparalic The address of the registerE4J office is gr￿en in the charty informatm on page 2 of1hese fjnancia slalemen&. The nature of the charivs operth'cns and principd actwh'es are grrfen on page 2. The charity conslilus a publ￿ benefft enbty as defingy by FRS 102 The )Snancia slalemerts have been preparerj in accordance hilh A¢¢ounlino and ReportiNJ Charrties.. Slalemenl of RecommEnded Practice applicalle lo Charities preparirpJ theiraccounts in accordancewlh the Financia Repoth"rwJ Standard applicat In the UK and Republic of Ireland IFRS 1021 Issu on 16 July 2014 (as updated through Update Bulleb"n 1 publithd on 2 February 20161, the Financial Reporting Standard applicab￿ in the Unrted ￿.￿gth1 and Republ￿ of Ireland (FRS 102), the Charities Act 2011. and UK QenerallyAccepted Account'ng Practice. The charty has applied Update Bullelm 1 as publisw on 2 February 2016 and does not include a cash flow slalemert on the grourKJs that il is appM"ng FRS 102 Se¢b"on 1A The financia slatemerÈ are prepared on a goiTrJ concem bass under the historica cost convention. modifEd to incluck certain items al fair value. The financia statemer6 are presenby In sterflrKJ¥￿iCh islhe funcb'ona currenry of the charity and roun[j￿10 the nearest£. The signfficant ac£ounb"rKJ polic￿8 appliaj in the preparath.￿l ollhese )Inan¢ia ststements are set out belthv. These polici have been consislentyappliedto allyears presenbj unless othe￿ise stated. The charity has taken advantage of the follwNJ (Jis¢logJp exempbcns in prepariro these financial slalements. as permthd by FRS 102 The Financi4 ReporbNJ Stanoard applicatrk Inthe UK an(J Republr of Ireland the requlrements of Sectson 7 Stalementof Cash Flovts. the requirementof paragratth 3.17(dl", the requiremen& of paragrats 11.42, 1144, 11.45. 11.47. 11.481a)liiil 11.48lal(Nl. 11.48(b) and 11.48lc)'. the requiremen& of paragraphs 12.26. 12.27. 12.29(a). 12.29lb> and 12.29A come All income is recognised in the Slatemenlof Financia Attmtres once the Char￿ has enb"llemertlo the funds,11 Is probable that the income ￿11 be recerrfed andthe amourt can be measugj reliabty. Expenrfrtwe Liabililes are recognisgj as expendsture as so[￿ aslhere is a lega or constructive obligaltn committw the Charity lo that expenditure. il is probab￿￿al a transferof e¢onoffK bene[ts￿lI be reouir&J in settlement andthe amountof the oblioalic can be measur&J reliabty Expendrture is accounted for on an accruaL% ba&s and h& been classthed under headirys that aggregaÈ all cost related lo the category. INhere Costs ¢annol be diredty attn"buted to patkn"¢ular headiros they have been allocated to acts'v￿'es on a bass consislertwrthlhe use of resources. Grants offeretj subject lo conr1￿"(￿6 thich not been met al the year end (Jale are noted as a commilmerrt bul not accrued as expenditure. Taxati The charity is exemptfromtax on ts charrtabk actr¥Tbes. F￿)￿ account Unreslri¢le(J lunts can L7e usaj in accordan￿ ￿ththe Chantab￿ objecbves atthe discret￿ of the Iruslees Restrict￿ funds can only be used for particul¥ restrictgj purposes wthhin the objects ofthe charity. Restricti￿S arise Specifb￿ by the donoror¥thenfun(k are raisEylfor patticu1￿ restn'cled purposes. Further explanats'c￿ of the natsjre anrj purpc6e of each fiJn(J is includ8J in the notes lo the financia slalemen Page 7 continued...

Notesto the Staernerts. corthed Fcli THE YEJi E￿ED 31 IAWICH 2021 ACCOiNTING F￿lEs . cNrtinued merls InknEslments are recognised inth.alty at fair value ¥thi¢h is nom)alV tt)e transacts.￿ price excludino 1ransacts.cn costs. Sutjseouenlly. they are measured al fair walue Tth chanw recognisaj in 'nel gains l Oossesl on investments, in the SOFA rf the sha￿S are publictytraded or theirfairydlue can otherwBe be measued reliabty. Other inveslmerls are measuEd al cost less impairmerrt Current assEI Investme￿ are shortlerm highty liquij inwestsnerts an(J are held al fairwalue. These inclu(Je cash on rjeposrt and cash equivalents wrth a malunty of than one year. Short-lerm Cath is held al CalBank and this year lonoer term depogts have been madewilh a nUMb￿0f bank% mana9>J by FlagStorÈ Investment Management tK11i4TICIS LEGACES 2021 2020 Donaliorts Gift aid 675.01i1 100,OCI] 147500 INVESTI￿v IIK( 2021 2020 Gain on Sa￿ of inveslmerts Other fixed asset Invest- Fll Other [￿ed assd inv- UnFII Deposrtaccountinleresl 84.737 1.706 2.372 347 477 72 549 ADMINISTPATK)N COSTS Raising and iBs 2021 2020 Support costs 94 2021 2020 Support costs 522 gregale amourts 616 Page 8 continued...

Notesto the Staernerts. corthed Fcli THE YE*Ji E￿ED 31 IAWICH 2021 CHARITA￿ ACTMTES COSTS Orant funding of (see note 6) Grants payable GRANTS PAYABLE 2021 2020 Grants payable 569 585 ADMINISTrAmN COSTS Governance costs RaisKo donath'cns anrj legacEs Investmentm3nagemertcostS Other resour￿ expended 94 522 741 OTHER 2021 2020 8upport costs 741 TIUISTEES. PEKWIHATK)N A￿) ￿lTs There were no trustees. remunerakn or olhe¥ benefits for the year efid￿J 31 h1ar¢h 2021 nor foi the year enday 31 March 2020. Trustees. expenses There were no Irustees'expenses paidforthe year end&J 31 hlarch 2021 norforlhe year end&J 31 March 2020. 10. COMPAR4TtVES F(Xi THE STATEfaiT ACTMTES Unreslricled fund IICOME AND EK)OIIWITS FRC Donations and legacies 147,500 Inveslmentincome 236,662 EXPENtxtURE ON ministrat1￿ Costs 2.307 Page 9 continued...

Notesto the Staernerts. corthed Fcli THE YEJi E￿ED 31 IAWICH 2021 10. COMPAR4TtVES F(Xi THE STATEfaiT FWJKW ACTMTES . c(nlinued Unrestricted funrj Charltable Grants payable 569,585 Other Total 5T3,224 Nel galnslllos￿> on investmen 51 6861 IET I￿￿￿EXpE￿￿TU￿ (38B,248) REC(￿CILIAT￿jN Fu￿)s Total funds Ixoiw [￿ward 623,362 TOTAL FUl￿s CAIUIJED FCIIWAI 235114 11. FIXED ASSET ￿n￿STmENTS List irr¥estsnen ARlfET VALL At 1 April 2020 Addit'ons RevalualiThB 20.272 32,911 131 March 2021 NET BOOK VALUE 131 March 2021 131 Marth 2020 The lolal irNestrnert Yalue of £53.183 (2019". £367.3241 is mats up of securths and is primarity held to prLf¥ide an in￿8trnent return for the Charity. The values aye determiml by reference to r8adity availab￿ markelpric8S. Tilney Asset Managemert has Mana￿ tt)e balan￿ of bolh the equty and ca) investrnents The balan￿ held wrthbn equilp3 was revaluedto marketydlue at the balan￿ shed date. Of the equity inveslmerts above £59.99) 1100%) is in overseas irNestmenl& Cash of £876 is included in the total ln￿$trnent of£54.104. Coslor¥alualion at 31 March 2021 is represenbj by. Listed stmerts Valuation in 2021 Page10 continued...

Notesto the Staernerts. corthed Fcli THE YE*Ji E￿ED 31 IAWICH 2021 12. CURJHT ASSET wI￿sTMENTs 2020 Inveslmentfund cash 876 13. CREDITORS: AM￿NTs FALLI1￿ YEAR 2021 2020 Other Creditors 924 14. m0￿MENT 11 FLIIDS UnreslricledfiJn(ts- Thisfijnd isfree to be in aCCordan￿￿tr Ihe ¢haritabk objects oflhe ¢harity. 15. IUATED PARTY DIsCLO￿l￿s Durir¥J Ihe year the Iruslees mats dOnath"c￿t0 Ihe ¢harity totsllir¥J £675,OCI] (2020".£100,0001 Page11

Detailed StatLYnert (rf F1w￿la1 Activities Fcrfi THE YEJi E￿ED 31 IAWICH 2021 2021 2020 hYCOME Ela)CWENTS Donatlons aml legacles Donatio Gift aid 675,orii 100,000 47 500 761￿￿j 147,500 tr￿Stment income Gain on sak of investments Other fL¥e¢ assetinvesl- Fll Other fixed assd inv- UnFII Deposrtaccounl Interest 84,737 1.706 2,312 347 4n 72 549 Total I￿￿nIng iesowces 7611 236,662 EXP&4DITUIIE Charable actmties Granlsto Indi￿dU￿S 484,425 569,585 Administration costs cAl￿na￿e costs Portfolio managemt Accountancy and lega fees ank charges 2,307 1,252 80 741 Total resour￿$ expended 513 224 Net McomeJle￿endlt￿eI bef￿e losses 27fy417 (336,563) Realised recowiseil gains and *tsses Realisaj gainslOc6ses) on fixed assd irrrfestrnerÈ 51 6861 Net ￿0MeJ￿eXpendlt￿eI This page does not fom part of Ihe statutoryfinan¢ia slalemerts Page12

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Signature 1

Signed by Stephen Dawson using authentication code ajY5aFcyMEdZWlN5 at IP address 150.143.163.29, on 2022/01/12 09:08:11 Z.

Stephen Dawson's e-mail address is: [e-mail].

Signature 2

Signed by Stephen Foster using authentication code ZVJNQ3dRRWtHd3Zw at IP address 213.129.74.45, on 2022/01/12 10:27:28 Z.

Stephen Foster's e-mail address is: [e-mail].