##
##
##
|The trustees|The trustees|N A E Farrow|||
|---|---|---|---|---|
|||G R Omstein|||
|||D Wise|||
|||R Lynch|||
|||K M Farrow|||
|||SDavies|||
|||I Abed|||
|||W Ham
Appointed||on 03 September 2020|
|Principal|place ofbusiness|Office 3|||
|||Book House|||
|||261A City Road|||
|||London|||
|||EC1V1JX|||
|Accountants||Fisher Phillips|LLP||
|||Summit House|||
|||170Finchley Road|||
|||London|||
|||NW3 6BP|||
|Bankers||EFG Private Bank Limited|||
|||12Hay
Hill|||
|||London|||
|||W1J 6DW|||
|Solicitors||Wilsons|||
|||Steynings
House|||
|||Fisherton Street|||
|||Salisbuiy,
Wiltshire|||
|||SP2 7RJ|||
##
##
||||Pages|
|---|---|---|---|
|Ttustees' Repen|||1-5|
|Independent
Examiners||Report||
|Statement
ofhnancial|activities|||
|Balance sheet||||
|Statement
ofcash flows||||
|Notes to the accounts|||10-16|
##
##
##
|The trustees|N A E Farrow|(Chief|Executive Officer)|
|---|---|---|---|
||G R Omstein|||
||D Wise|||
||R Lynch|||
||K M Farrow|||
||SDevice|||
||I Abed|||
||W Ham —Appointed||on 03September 2020|
|Principal place ofbusiness|Office 3|||
||Book House|||
||261A City Road|||
||London|||
||EC1V1JX|||
|Accountants|Fisher Phillips|LLP||
||Summit
House|||
||170Finchley Road|||
||London|||
||NW3 6BP|||
|Bankers|EFG Private Bank Limited|||
||12 Hay Hill|||
||London|||
||W1J 6DW|||
|Solicitors|Wllsons|||
||Steynings
House|||
||Fisherton Street|||
||Salisbury,
Wiltshire|||
||SP2 TRJ|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Forthe year ended 31|March 2021|||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||Unrestricted|Restricted|Total|Total|
||||Note||||F|
|Income from:||||||||
|Donations
and legacies|||3|500|8,500|9,000||
|Investment
income|||||||81,627|
|Total income||||69,832|8,500|78,332|81,627|
|Expenditure
on:||||||||
|Raising funds||||15,864||15,864|15,528|
|Charitable
activities:||||||||
|Charitable
donations||||103,070|873|103,943|124,638|
|Admin costs||||2,988||2,988|1,089|
|Salary costs||||28,222||28,222|63,090|
|Other||||||||
|Total expenditure||||||||
|Net income
/ (expenditure)|before net gains|/||||||
|(losses) on investments||||(80,312)|7,627|(72,685)|(122,718)|
|Net gains / (losses) on investments||||60,982||||
|Net income
/ (expenditure)|for the year|||(19,330)|7,627|(11,703)|(249,724)|
|Transfers
between funds||||||||
|Net Income
/ (expenditure)|before other|||||||
|recognised
gains and losses||||(19,330)|7,627|(11,703)|(249,724)|
|Other gains
/ (losses)||||||||
|Net movement
in funds||||(19,330)|7,627|(11,703)|(249,724)|
|Reconciliation
offunds:||||||||
|Total funds brought
forward||||2,025,136||||
|Total funds carried forward|||11|2 005,806|7,627|2,013,433|2,025,136|
|||||Note|2021f|2021|2020|2020f|
|---|---|---|---|---|---|---|---|---|
|Fixed assets:|||||||||
|Investments||||||1,983,551||2,007,286|
|||||||1,983,551||2,007,286|
|Current assets:|||||||||
|Debtors||||9|14,832||46,000||
|Cash at bank and||in hand||14|15,050||43,248||
||||||29,882||89,248||
|Liabilities:|||||||||
|Creditors: amounts||falling|due within one year|10|||71,398||
|Net current assets I (liabilities)||||||||17,850|
|Total net assets|I(liabilities)|||||2,013,433||2,025,136|
|Funds||||12|||||
|Restricted
funds||||||7,627|||
|Unrestricted
funds:|||||||||
|Revaluation|reserve||||||||
|General funds|||||2,005,806||2,025,136||
|Total unrestricted||funds||||||2,025,136|
|Total funds||||||2,013,433||2,025,136|
|Approved
by the|trustees||on 14December 2021||||||
|and signed
on their behalf|||by:||||||
|G Omstein|||||N Farrow||||
|Treasurer|||||Charrperson||||
|Charity number:||1101299|||||||
##
||||||Note|2021|2021|2020|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||f|9|8||
|Net cash|provided
by/(used
in) operating|||activities|13||(182,246)||(159,826)|
|Cash flows from Investing||activities:||||||||
|Interest/rent/dividends
from||investments||||69,332||81,627||
|Proceeds|from sale offixed|assets||||||||
|Purchase|offixed assets|||||||||
|Proceeds|from sale of investments|||||628,095||709,482||
|Purchase|ofinvestments|||||(543,379)||(662,756)||
|Cash provided
by / (used||in) investing|activities||||154,048||128,353|
|Change|In cash and cash|equivalents|in the year||||(28,198)||(31,473)|
|Cash and|cash equivalents|at the beginning||ofthe year|||43,248||74,721|
|Cash and cash equivalents||at the end|ofthe year||14||15,050||43,248|
##
##
##
##
##
##
##
##
##
##
##
##
|2|Detailed comparatl|ves|f|or|the statement|off|inancial
activities||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020|2020|2020|
|||||||||Unrestricted|Restricted|Totalf|
||Income from:||||||||||
||Donations
and legacies||||||||||
||Investment
income|||||||81,627||81,627|
||Total income|||||||81,627|||
||Expenditure
on:||||||||||
||Raising funds|||||||15,528||15,528|
||Chantable
acbvities:||||||||||
||Charitable
donations|||||||124,638||124,638|
||Admin costs|||||||1,089||1,089|
||Salan/ costs|||||||63,090||63,090|
||Total expenditure||||||||||
||Net Income
/ expenditure|||before gains||/|||||
||(losses) on Investments|||||||(122,718)||(122,718)|
||Net gains
/ (losses)|on investments||||||(127,006)||(127,006)|
||Net income
/ expenditure|||||||(249,724)||(249,724)|
||Transfers
between
funds||||||||||
||Net income/
(expenditure)||||before other||||||
||recognised
gains and||losses|||||(249,724)||(249,724)|
||Other gains
/ (losses)||||||||||
||Net movement
in funds|||||||(249,724)||(249,724)|
||Total funds brought|forward||||||2,274,860|||
||Total funds carried|forward||||||2,025,136|||
|3|Income from donations|||and|legacies||||||
||||||||||2021|2020|
||||||||Unrestrictedf|Restricted
6|Total
6|Total|
||Gifts 8 donations||||||500|8,500.00|9,000||
||Legacies||||||||||
|4|Income from investments||||||||||
||||||||||2021|2020|
||||||||Unrestricted
6|Restricted
6|Totalf|Total|
||Interest||||||28,370||28,370|32,368|
||Dividends
from listed|investments|||||24,271||24,271|31,338|
||Dividends
from unlisted||investments||||16,691||16,691|17,921|
||||Charitable|Charitable|scthxgfw|scthxgfw|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||Cost of
IBISfre fUffdS
6|Chentsble
doff etio fls
5|Admffl
costs
6||Saiflfi' costs|SUpport
costs
5|Governance
Costaf|2021 Total
6|2020 Total|
|Investment
management
fees
Don&amity for CreaDve Arts||13,118|||||||13,118|14,436|
|IGIB
University
of Brighton
Queens College Cambridge|||I,DDD
756||||||1,000
756|5,000|
|COIISOOIfwesgh
EdUCBIfon TIUSt
Shelly Power titenuy Agency
Ltd
Corporate
Education
Trust|||3,340
1,569||||||3,340
1,569|2.000|
|Bane Tan dizo Foundaten
The Mandarin
Trust
paDant House Gallery|||80,645
873||||||90,645
873|7,900
105,146|
|DEC Malawi Floods||||||||||2,000|
|Brseldng
Ground
Heritage
Historic Buildings
& Monument
Bank charges and Interest
Exchange
gain/ (loss)
Travel end subsistence
ConsUltsnoj fess
Webshe cosh
Ssisfif COsts|Commission||3,014||130
8
104|25,476|983
10,D01||3,014
130
8
983
10,D01
104
25,476|1,000
500
(2)
2,175
2,192
61,998|
|||13,116|101,197||242|25,476|10+84||151,017|204,345|
|Support costs||2,746|2,746|2,746||2,746|(10,984)||||
|Governance
casts|||||||||||
|Total expenditure
2021||15,864|103,943|2,988||28222|||151,017|204,345|
|Total expendnure
2020||15,528|124,638|1,089||63,090|||204,345||
|Staff costs were as follows:|||||2021|2020|
|---|---|---|---|---|---|---|
|Salaries and wages
Social security costs|||||25,476|61,998|
|The following
number ofemployees|received employee|benefits (exduding|employer|pension)|during the year|between:|
||||||2021|2020|
|660,000 —669,999|||||No.|No.|
|670,000 - 579,999
f80,000 —f89,999|||||||
|690,000 —599,999|||||||
##
|Raising funds|Raising funds|
|---|---|
|Trading||
|Charitable|actrdties|
|Support||
|Governance||
|2021|2020|
|---|---|
|No.|No.|
##
|8|Investments||||
|---|---|---|---|---|
||||2021|2020|
||Investments
at fair|value:|f|f|
||Listed investments
Unlisted
investments||1,283,551
700,000|1,307,286
700,000|
||||1,983,551|2,007,286|
||Movements||||
||Market value at the start ofthe year
Additions
at cost
Disposals at carrying
value
Gains/ (Losses) on investment||1,307,286
543,379
(628,095)
60,982|1,481,018
662,756
(709,482)
(127,006)|
||Market value at the|end ofthe year|||
##
|9|Debtors||||
|---|---|---|---|---|
||Accrued interest||2021|2020f|
||Other debtors
—Bane Tandizo
Prepayment|Foundation|10,320
4,512|13,427
4,512|
|||||28,061|
||||14,832|46,000|
|10|Creditors: amounts
falling due within one year||||
||||2021|2020|
||Taxation and social security||F|5|
||Other creditors -Scolar Fine Art Limited|||71,398|
##
|Analysis
o|f net a|sset|s between
funds||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||General|||||Total|
|Investments
Net current|assets||||unrestricted
1,983,551
22,255|Designated|||Restrictedf
7,627|funds
1,983,551
29,882|
|Net assets|at the|end|ofthe year||2 005 806||||7627|2 013433|
|Movements|in funds||||Incoming|Outgoing|||||
|||||At the start|resources
&|resources|&|Net investment||At the end|
|||||ofthe year
5|gains|losses||gains I(losses)
5||ofthe year|
|Restricted|funds:||||8,500|(873)||||7,627|
|Total restricted
funds|||||||||||
|Unrestricted|funds:||||||||||
|Designated|funds:||||||||||
|Total designated||funds|||||||||
|General funds||||2,025,136|69,832|(150,144)|||60,982|2,005,806|
|Total unrestricted||funds|||||||60,982|2,005,806|
|Pension fund|||||||||||
|Total funds|including||pension fund||||||60,982|2,013,433|
|Fo|r the year ended 31 March 2021|r the year ended 31 March 2021||||||
|---|---|---|---|---|---|---|---|
|13|Reconciliation
of net income
/ (expenditure)||to net cash flow from operating||activities|||
|||||||2021|2020|
||Net income /(expenditure)
for the reporting
(as per the statement
offinancial
activities)||period|||(11,703)|6
(249,724)|
||Depreciation|||||||
||Interest and dividends
from investments
(Gains) / losses on investments|||||(69,332)|(81,627)|
||Loss / (profit) on the sale offixed assets|||||(60,982)|127,006|
||(Increase) / decrease
in stock|||||||
||(Increase)
/ decrease
in debtors
Increase
/ (decrease)
in creditors|||||31,168
(71,398)|(26,879)
71,398|
||Net cash provided
by / (used in) operating|activities||||||
|14|Analysis ofcash and cash equivalents|||||||
|||||At 1 April||Other|At 31 March|
|||||2020
6|Cash flows|changes|2021
f|
||Cash at bank and
in hand|||43,248|(28,198)||15,050|
||Total cash and cash equivalents||||||15,050|
##
##