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2022-03-31-accounts

Structure, Structure, Governance
and Management		 Governance
and Management		 3to 6
Trustees' report 7to18
Trustees' responsibilities in relation to the financial statements 19
Auditor's report 20to 23
Audited annual accounts 24to 44

Professional
advisors 8		 agents
Auditors Bankers Asset Mana ers
Griffin Stone Moscrop &Co
21-27 Lamb's Conduit Street		 HSBC
69Pall Mall		 Brewin Dolphin
2"'Floor
London WC1N 3GS London SW1Y5EY 5 Callaghan Square
Cardiff CF10SBT
NATWEST
9~ Floor, Bishopsgate
London EC2M 4RB
IT/IS Consultants Insurance
Consultants		 HR Consultants
Tier One
Admiral
House		 Marsh Commercial
1"Floor Gail House		 WorkNest
PO 1051
Fleet Lower Stone Street Horsham
Gu51 4YA Maidstone
ME156NB		 West Sussex RH12 9WN
Gallagher
7
Floor
Temple Point
1 Temple Row
Birmingham
B25LG

E7,346,963 f10,360,933 E3,99b,845 E10,597,580
to local charitable to beneficiaries of to Campden to beneficiaries of
organisations pension age scholars &other working age
young people

REFERRALS
AN-NISA Society 1,500
Avondale
Park School		 4,500
Baraka Community
Association		 6,000
Clement James Centre 4,500
Colville Primary School 4,500
Dadihiye
Somali Development		 3,000
Evolve Housing
and Support		 4,000
Field Lane Foundation 5,500
Hestia Housing 21,500
Home Start Westminster 1,000
Kensington
&Chelsea CAB		 10,500
Kensington
&Chelsea Foodbank		 1,500
Kids On The Green 1,500
Latimer Community
Art		 Therapy 3,000
Look Ahead Housing
&Care		 3,000
MINDS United
Football		 Club 3,000
Mongolian
Community		 Organisation 7,500
MO1YOUTHS Limited 1,500
North Kensington
Hearts & Minds CIC		 1,500
Octavia Foundation 1,500
Response
Community		 Projects 1,500
Richmond
Fellowship		 1,500
Salvation
Army Housing		 Association 9,000
SMART (St Mary Abbots Rehabilitation
training)		 and 3,000
Solidarity Sports 1,500
The Learning
Club Community		 Association 3,000
The Space 1,000
UnityGrove
C.I.C.		 1,500
Women's
Pioneer		 1,000
113,550

15/16 16/12 12/16 16/19 16/19 16/19 ' 19/20 19/20 20/21 21/22 ~
Cumulative		 ~
Cumulative
Totals
1 ~ ~ 1 ~
Individuals
who me
basic criteria
Initial home visits		 422~
509~		 449
261		 '. 3,011
1
2,054,
Other home visits 367 341,' 2.472 1
No, ofgrants 526 346 ',, 3,029
awarded to new
beneficiaries
No. ofnew .268 287 250 ' 1,845 I
applicants
awarded
a grant
*Sustaining 58 l 438 I
Employment
*Employment -~v91v — -102-: 73 73 528 I
l
Routes
*Campden 32 7 176 ~
Scholarship
*Gateways		 —unable 14- =-. -' 74 65~ 37 ' 468 l
to work
*Gateways— 20 81 l
preparing to work
*Young People' s 45 62 1 166
Grant Programme
~ t ~ 1 t
Individuals 9 .=- '
=		 136- 182 99 . 851 I
t
supported into
I training/study
Individuals -'4' - .' 45 75 38 .' 357 i
completing
training/study
Individuals t2+ -,—. 12 19 9 I 107 I
supported into
voluntary
work
~ t
New Scholars 35 30:. 258 I
Students who 35 i
l
I progressed to the
Scholarship
Programme from I
YPG
L
i Continuing Scholars 27 -' 27 69 " 297 l
I
Scholars who 19 24 ': 151
]
graduated
15/16 16/17 17/18 18/19 18/19 '; 19/20 20/21 21/22 ' Cumulative I
Totals
~ ~ ~ 4 I
~		 4
New Students 49 64 177 I
Continuing
Students		 42
Progressed to 16,
'
Scholarship
Programme
~ ~
'
Actively looking for 4 ~ 03 ..-,:==..=,. :.-'109 ., 148 139
work
Gained employment
Progressed
within		 6' ~
~
'.81="
.,:;:.
---.':=:-;--;--:37=,		 ~ ~ S2~
42~		 47
21		 '
-'		 406
289
the programme
Achieved
sustainable		 24~ 7 72 I
employment
Progressed
within		 84 41 ': S22.
the programme I
Grants approved ;" 41. -"' '--: 2i088 =- 2,292 1,785 ' 14,099
Individuals
receiving		 406. ':.=='-. - =1,183 =. 1,218 1,244 8,497
a grant
Total amount ,669,106 —, f1,912,437 f1,600,478: f11,034,34?

Unrestricted Endowment Total Total
Funds Funds 2022 2021
Note F
Income and endowments from:
Donations
and legacies		 14
Charitable
activities		 43,976 43,976 93,043
Investments 3,356,038 3,356,038 2,951,156
Other 5,932 5,932 4,351
Total income and endowments 49,908 3,356,038 3,405,946 3,048,564
Expenditure
on:
Raising funds
Investment
management		 costs 7 801,565 801,565 740,217
Charitable
activities		 8 2,675,534 2,675,534 2,350,326
Other costs 9 303,510 303,510 308,639
Total resources expended 2,979,044 801,565 3,780,609 3,399,182
Net income/(expenditure)
before
other recognised
gains and losses		 (2,929,136) 2,554,473 (374,663) (350,618)
Net gains/(losses)
on investments		 13 7,702,819 7,702,819 12,449,857
Net income/(expenditure) (2,929,136) 10,257,292 7,328,156 12,099,239
Transfer between funds 15 2,554,473 (2,554,473)
Other recognised
gains/(losses):
Gains/(losses)
on revaluation		 of
operating
premises
Net movement
in funds		 (374,663) 7,702,819 7,328,156 12,099,239
Reconciliation
offunds:
Total funds brought
forward		 1,209,101 160,718,825 161,927,926 149,828,687
Total funds carried forward 834,438 168,421,644 169,256,082 161,927,926

2022f 2021
Cash flows from operating
activities:
Net cash usedin
operating
activities		 (3,587,046) (3,203,716)
Cash flows from investing
activities:
Dividends,
interest and rents from
investments 3,166,821 3,019,297
Purchase
of property,
plant and equipment
Proceeds from sale of investments		 (14,816)
38,577,767		 (20,624)
18,087,085
Purchase
of investments		 (38,905,618) (17,099,134)
Net cash provided
by investing
activities		 2,824,154 3,986,624
Cash flows from financing
activities:
Net cash provided
by (used in)
financing
activities
Change in cash equivalents
in the		 (762,892) 782,908
period
Cash and cash equivalents
at 1April		 2,040,016 1,257,108
2020
Cash and cash equivalents
at31March
2021		 1,277,124 2,040,016
Reconciliation
ofcash flows from
operating
activities
Net incomel(expenditure)
for the year		 7,328,156 12,099,239
Adjust for:
Depreciation
charges
(Gains)/losses
on investments		 9,524
(7,702,819)		 7,093
(12,449,857)
Dividends,
interest and rents from
investments		 (3,356,038) (2,951,156)
Loss/(profit)
on sale offixed assets
(Increase)/decrease
in debtors
Increase/(decrease)
in creditors		 127,563
6,568		 14,500
16,047
60,418
Net cash usedin operating
activities		 (3,587,046) (3,203,716)
Analysis ofcash and cash equivalents
Cash in hand		 66,640 207,389
Overdrafts
Cash equivalents
on deposits		 1,210,484 1,832,627
Total cash and cash equivalents 1,277,124 2,040,016

Analysis ofchanges Analysis ofchanges in net debt
At 1 April Cash flows New Fair value Other At 31 March
2021 finance movements non-cash 2022
leases changes
F F F
Cash 207,389 (140,749) 66,640
Overdrafts
Cash equivalents on 1,832,627 (622,143) 1,210,484
deposits
2,040,016 (762,892) 1,277,124
Financial lease obligations
204001,6~, 762692, 1 277 124

Unrestricted Unrestricted Endowment Endowment Total
Funds Funds 2021
f
Income and endowments from:
Donations
and legacies		 14 14
Charitable
activities		 93,043 93,043
Investments 2,951,156 2,951,156
Other 4,351 4,351
Total income and endowments 97,408 2,951,156 3,048,564
Expenditure
on:
Raising funds
Investment
management		 costs 740,217 740,217
Charitable
activities		 2,350,326 2,350,326
Other costs 308,639 308,639
Total resources expended 2,658,965 740,217 3,399,182
Net income/(expenditure)
before
other recognised
gains and losses		 (2,561,557) 2,210,939 (350,618)
Net gains/(losses) on investments 12,449,857 12,449,857
Net income/(expenditure) (2,561,557) 14,660,796 12,099,239
Transfer between funds 2,210,939 (2,210,939)
Other recognised gains/(losses):
Gains/(losses))
on		 revaluation of
Operating
premises
Net movement
in		 funds (350,618) 12,449,857 12,099,239
Reconciliation
of		 funds:
Total funds brought forward 1,559,719 148,268,968 149,828,687
Total funds carried forward 1,209,101 160,718,825 161,927,926
3
Income from donations		 and legacies
Unrestricted Endowment Total Unrestricted/
Funds Funds Funds Total Funds
2022 2021
Donations 14

Unrestricted Endowment Endowment Total Funds Unrestricted/
Funds Funds 2022 Total Funds
2021
F E
Relief of Need
Returned grants 43,976 43,976 93,043
5
Investment		 income
Unrestricted Endowment Total Funds Endowment/
Funds Funds 2022 Total Funds
2021f
Income from investment
properties
Income from listed		 investments 2,451,995
904,028		 2,451,995
904,028		 2,094,768
855,409
Interest income 15 15 979
3,356,038 3,356,038 2,951,156
Operating leases Not later than one
year		 Later than one
year and not later		 Later than five
years
than five years
E
Investment properties on leases 1,129,948 4,060,581 20,436,359

Unrestricted Endowment Total Funds Unrestricted/
Funds Funds 2022 Total Funds
2021
E
Charity discounts 4,000 4,000 4,000
Insurance and other claims 1,932 1,932 351
5,932 5,932 4,351

Unrestricted Endowment Total Funds Endowment/
Funds Funds 2022 Total Funds
2021
f E
Property management fees 123,193 130,806
Legal fees 8,343 6,230
Irrecoverable VAT 64,090 62,299
Property management
expenditure		 388,881 388,881 348,242
Bad debt written
off		 10,425 10,425 4,121
Refurbishment of properties
Investment
management
administration
costs		 206,633 206,633 188,519
801,565 801,565 740,217

8
Details		 ofcharitable
ac		 tivities
Grant Direct Support Total Total
funding
of		 Services costs 2022 2021
activities allocatedf allocatedf f. f
Relief of Need 1,283,220 199,284 120,271 1,602,775 1,359,004
Advancement ofEducation 753,204 199,284 120,271 1,072,759 991,322
2,036,424 398,568 240,542 2,675,534 2,350,326
Direct Services costs Direct Services costs Relief of Advancement Total Relief of Advancement Total
Need ofEducation 2022 Need ofEducation 2021
f f f. f f
Employment costs 199,284 199,284 398,568 172,632 172,632 345,264
Support costs Relief of
Need		 Advancement
ofEducation		 Total
2022		 Relief of
Need		 Advancement
ofEducation		 Total
2021
f. E f f f f.
Employment costs 90,213 90,213 180,426 96,207 96,207 192,414
Office expenses 27,677 27,677 55,354 22,399 22,399 44,798
Depreciation of tangible 2,381 2,381 4,762 1,773 1,773 3,546
fixed assets
120,271 120,271 240,542 120,379 120,379 240,758
Grant making Grants to
institutions		 Grants to
individuals		 Total
2022		 Grants to
institutions		 Grants to
individuals		 Total
2021
F f,
Relief of Need 449,380 833,840 1,283,220 358,000 707,993 1,065,993
Advancement of Education 753,204 753,204 64,000 634,311 698,311
449,380 1,587,044 2,036,424 422,000 1,342,304 1,764,304

Unrestricted Endowment Total Unrestnctedl
Funds Funds Funds Total Funds
2022 2021
f.
Governance costs:
Employment costs 193,296 193,296 184,878
Establishment costs 22,869 22,869 21,644
Office expenses 36,286 36,286 32,876
Irrecoverable VAT 17,194 17,194 22,944
Trustee expenses 106
Auditors'
remuneration		 7,500 7,500 8,000
Legal and professional costs 21,603 21,603 20,144
Depreciation oftangible fixed 4,762 4,762 3,547
assets
303,510 303,510 294,139
Loss on disposals of fixed 14,500
assets
303,510 303,510 308,639
Operating leases Not later than one
year		 Later
and		 than
not		 one year
later than		 Later than five
years
five years
Operating equipment 344

2022 2021
Travel
Other		 expenses
expenses		 on behalf ofthe Charities 106
106
11
Net expenditure
Net expenditure
is stated after charging:
2022 2021
Auditors'
remuneration		 - audit services 7,500 8,000
Depreciation
of owned		 assets 9,524 7,093

2022 2021
No. No.
Grant making and advice to beneficiaries 11 9
Management and administration ofthe charity 4 4
15 13
2022 2021
F
Wages
Social
Other		 and salaries
security
pension costs		 686,569
55,581
30,140
772,290		 608,426
55,372
58,758
722,556

2022 2021
No. No.

2022 2021
No. No.

Unrestricted Endowment Total funds Endowment/
Funds funds 2022 Total funds
2021
Gains/(losses) on disposal of
investment
properties
Gains/(losses)
on disposal of		 1,808,804 1,808,804 1,700,637
investments
Gains/(losses) on revaluation 3,320,250 3,320,250 13,560,739
of investments
Gains/(losses) on revaluation 2,573,765 2,573,765 (2,811,519)
of investment properties
7,702,819 7,702,819 12,449,857

Unrestricted Endowment
Funds funds
F F
Allocation ofthe unapplied total return 2,554,473 (2,554,473)

16
Tangible fixed assets
Long leasehold Plant and Total
and other interests machinery
in land and including motor
buildings
E		 vehiclesf
Cost or valuation:
As at 1 April 2021 2,200,000 99,870 2,299,870
Revaluation
Additions 41,693 1,041 42,734
Disposals
As at 31 March 2022 2,241,693 100,911 2,342,604
Depreciation:
As at 1 April 2021 78,080 78,080
On disposals
Charge for the year		 9,524 9,524
As at 31 March 2022 87,604 87,604
Net book values:
As at 31 March 2022 2,241,693 13,307 2,255,000
As at 31 March 2021 2,200,000 21,790 2,221,790

Investment Listed Total
properties investments
F
Market value:
As at 1 April 2021
Revaluation		 88,966,962
2,573,765		 69,632,023
3,320,251		 158,598,985
5,894,016
Additions 4,035,811 38,469,315 42,505,126
Disposals 4,800 40,343,122 40,347,922)
As at 31 March 2022 95,571,738 71,078,467 166,650,205
Net book value
As at 31 March 2022 95,571,738 71,078,467 166,650,205
As at 31 March 2021 88,966,962 69,632,023 158,598,985

Movements
in the Tota		 l Return
Fund		 for the yea r:
2022 2021
Opening
value of permanent
endowment		 160,718,825 148,268,968
Less: amount
maintained		 in permanent endowment fund 25,028,740 25,028,740
Unapplied
total return as at 1 April 2021		 135,690,085 123,240,228
Investment
return —net		 income/(expenditure) 10,257,292 14,660,796
Allocation of unapplied
return		 (2,554,473) (2,210,939)
Revaluation
ofoperating		 premises
Unapplied
total return as at 31 March 2022		 143,392,904 135,690,085
Add: amount
maintained		 in permanent endowment fund 25,028,740 25,028,740
Permanent
endowment		 fund including
unapplied		 total return
as at 31st March 2022 168,421,644 160,718,825
Statement
of Unapplied		 Total Return since March 2009
F f
Unapplied
total return
brought
forward
Total return for the year		 91,388,595
10,257,292		 78,938,738
14,660,796
Less: total return
applied		 for the year (2,554,473) (2,210,939)
Revaluation
ofoperating		 premises
Unapplied
total return as at 31 March 2022		 99,091,414 91,388,595
18
Debtors
2022 2021
E
Other debtors 194,048 170,187
Prepayments
and accrued income		 140,169 150,844
334,217 321,031
19
Current assets investments
2022 2021
F
Cash equivalents
on deposits		 1,210,484 1,832,627

2022 2021
F
Bank loans and overdrafts
Grants payable 579,439 535,665
Other creditors 226,468 224,835
Accruals and deferred income 446,774 450,084
1,252,681 1,210,584
Deferred income reconciliation 2022 2021f
Balance at 1 April 277,349 347,776
Amount released to income 277,349 347,776
Amount deferred in the year 367,778 277,349
Balance at 31 March 367,778 277,349

2022 2021
F f.
Multi-employer pension scheme deficit charges 7,783 43,312

At 1 April Total income Total Net gains/ Other Transfer At 31 March
2021 and expenditure losses recognised between 2022
endowments gains/
losses
funds
E
Unrestricted
Funds
Unrestricted
income fund 1,209,101 49,908 (2,979,044) 2,554,473 834,438
Endowment
Funds
Permanent
endowment 160,718,825 3,356,038 (801,565) 7,702,819 -~2,554,473 166,421,644
161,927,926 3,405,946 (3,780,609) 7,702,819 - 169,256,082

2022 2021
F F
Pensions and Relief of Need
At 1 April 2021
Moiety surplus
for the year		 830,880 706,843
830,880 706,843
Less: Expenditure on Pensions and
Relief of Need 1,283,220 1,065,993
(452,340) (359,150)
Transfer from general reserve 452,340 359,150
At 31 March 2022
Advancement
ofEducation
At 1 April 2021
Moiety surplus
for		 the year 830,881 706,843
830,881 706,843
Less: Expenditure on Advancement of
Education 753,204 698,311
77,677 8,532
Transfer to general reserve (77,677) (8,532)
At 31 March 2022
Summary
ofRevenue Reserve
At 1 April 2021 1,209,101 1,559,719
Profit/(loss)
for the		 year (374,663) (350,618)
At 31 March 2022 834,438 1,209,101
Trustees
have designated		 the uses ofthe
Revenue
Reserves to be:
Contingency
against loss ofincome		 754,438 1,129,101
Sinking fund for equipment replacement 80,000 80,000
At 31March 2022 834,438 1,209,101

Unrestricted Endowment Total Funds
Funds Funds 2022
F f
Tangible assets 13,307 2,241,693 2,255,000
investments 166,650,205 166,650,205
Current assets 2,081,595 (470,254) 1,611,341
Creditors: Amounts falling due
within one year (1,252,681) (1,252,681)
Creditors: Amounts falling due
after more than one year (7,783) (7,783)
Net assets 834,438 168,421,644 169,256,082
Unrestricted Endowment Total Funds
Funds Funds 2021
F
Tangible assets
Investments		 21,790 2,200,000
158,598,985		 2,221,790
158,598,985
Current assets 2,441,207 (80,160) 2,361,047
Creditors: Amounts falling due
within one year (1,210,584) (1,210,584)
Creditors: Amounts falling due
after more than one year (43,312) (43,312)
Net assets 1,209,101 160,718,825 161,927,926

2022 2021
F
Financial assets that are debts instruments measured at fair
value:
Listed Investments 71,078,467 69,632,023
Financial assets that are debts instruments measured at
amortised cost:
Other Debtors 194,048 170,187
Financial assets that are debts instruments measured at cost:
Current Asset Investments in Cash 1,210,484 1,832,627
Cash at bank and
in hand		 66,640 207,389
Financial assets that are debts instruments measured at cost 1,277,124 2,040,016
Financial
liabilities measured
at amortised		 cost:
Grants Payable 579,439 535,665
Other Creditors 226,468 224,835
Total financial
liabilities measured		 at amortised cost 805,907 760,500
Income, expense, gains or losses, including changes in fair
value, recognised
on:
Financial assets measured at fair value 6,033,082 16,116,785
Interest Income 15 979
Total income, expense, gains or losses, including
fair value		 changes in 6,033,097 16,117,764