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|Registered charity name|The James Tudor Foundation||
|---|---|---|
|Charity registration number|1105916||
|Company registration number|5178537||
|Principal office and registered|Suite 8 Clifton Business Centre||
|ofrlce|Somerset House||
||18 Canynge Road||
||Clifton||
||Bristol||
||BS8 3JX||
|DirectorsITrustees|||
||M G Daw|Chairman Appointed 08 December 2021|
||R R G Esler|Resigned as Chairman  10 September 2021|
||S E Evans|Senior Director/Acting Chairman (25|
|||May 2021 Resigned 13 August 2021)|
||A F Mcpherson||
||S K Wren||
||L A Hooper||
|Foundation Director and Company|||
|Secretary|S J M Stewart||
|Grantofflcer|C Berman||
|Grant Adm inistrator|J MCHugh||
|Auditors|Mazars LLP||
||Chartered accountants & statutory|auditor|
||90 Victoria Street||
||Redcliffe||
||Bristol||
||UK||
||BS16DP||
|Accountants|Elliott Bunker Limited||
||Chartered Ac countants||
||61  Macrae Road||
||Bristol||
||BS20 ODD||





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|Bankers|National Westminster Bank Plc|
|---|---|
||I st Floor|
||40 Queens Road|
||Clifton|
||Bristol|
||BS81BF|
|Solicitors|Veale Wasbrough Vizards|
||Narrow Quay|
||Bristol|
||BS14QA|
|Investment Managers|Smith and Williamson Investment Management LLP|
||25 Moorgate|
||London|
||UK|
||EC2R 6AY|





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|Programme|Awards|Percentage|Total Value|Percentage|
|---|---|---|---|---|
|Palliative Care|9|10%|100,714|17%|
|Medical Research|6|7%|92,331|15%|
|Health Education|18|19%|106,874|18%|
|Relief of sickness|45|48%|242,066|40%|
|Overseas|15|16%|58,770|10%|
|Total|93|1000/o|600'755|1000/o|





## 

|Programme|Awards|Percentage|Total Value|Percentage|
|---|---|---|---|---|
|Palliative Care|9|10%|89,936|130/o|
|Medical Research|12|13%|163,062|23%|
|Health Education|12|13%|96,673|14%|
|Relief of sickness|50|46%|300,730|42%|
|Overseas|16|180/o|60,739|80/o|
|Total|99|1000/o|711'140|1000/o|



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|3) and was invested as follows:||||
|---|---|---|---|
|Investments|Value @ 30 September 2021|Percentage||
|Equity - Ordinary Shares|31,410,709||88%|
|Fixed income Preference Shares|2,556,538||7%|
|Fixed Interest, cash & floating rate notes|1,332,925||4%|
|Total|35,300,172||99O/o|
|Portfolio Cash|163,833||1%|
|Total|35,464,005||1000/o|



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||||2021||2020|
|---|---|---|---|---|---|
|||Uurestricted|Endowment|||
|||funds|funds|Total funds|Total funds|
||Note|£|£|£|£|
|Income and endowments||||||
|Income from investments|4|792,019|74,154|866'173|817,166|
|Total income||792,019|74,154|866,173|817,166|
|Expenditure||||||
|Expenditure on raising funds|5||(74,154)|(74,154)|(71,709)|
|Expenditure on charitable activities|6,7|(756,128)||(756,128)|(846,971)|
|Total expenditure||(756,128)|(74,154)|(830,282)|(918,680)|
|Net gains/(losses) on investments|10||5,894,456|5,894,456|(1,225,531)|
|Net income/(expenditure) and net movement|in|||||
|funds||35,891|5,894,456|5,930,347|(1,327,045)|
|Reconciliation of funds||||||
|Total funds brought forward||289,911|29,316,046|29,605,957|30,933,002|
|Total funds carried forward||325,802|35,210,502|35,536,304|29,605,957|





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|30 SEPTEMBER 2021|||
|---|---|---|
|||2021                         2020|
||Note|£                               £|
|FIXED ASSETS|||
|Tangible fixed assets|15|2,396                      2,902|
|Investments|16|35,464,005            29,563 ,823|
|||35,466,401            29,566,725|
|CURRENT ASSETS|||
|Debtors|17|82,616                      96,383|
|Cash at bank and in hand||259,956                    156,614|
|||342,572                  252,997|
|CREDITORS: amounts falling due within one year|18|(257,619)               (200,015)|
|NET CURRENT ASSETS||84,953                     52,982|
|TOTAL ASSETS LESS CURRENT LIABILITIES||35,551,354            29,619,707|
|CREDITORS: amounts falling due after more than one year|19|(15,050)                  (13,750)|
|NET ASSETS||35,536,304            29,605 ,95 7|
|FUNDS OF THE CHARITY|||
|Endowment funds||35,210,502            29,316,046|
|Unrestricted funds||325,802                   289,911|
|Total charity funds|21|35,536,304            29,605 ,95 7|





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|YEAR ENDED 30 SEPTEMBER 2021|||
|---|---|---|
||2021|2020|
||£|£|
|Cash generated from operations|(770,339)|(983,571)|
|Interest received|879,894|809,278|
|Net cash from/(used in) operating activities|109,555|(174,293)|
|CASH FLOWS FROM INVESTING ACTIVITIES|||
|Purchase of tangible assets|(487)|(2,323)|
|Purchases of other investments|(S,181,073)|(2,898,079)|
|Proceeds from sale of other investments|5,052,642|3,045,662|
|Net cash (used in)/from investing activities|(128,918)|145,260|
|NET DECREASE IN CASH AND CASH EQUIVALENTS|(19,363)|(29,033)|
|CASH AND CASH EQUIVALENTS AT BEGINNING 0F YEAR|443,152|472,185|
|CASH AND CASH EQUIVALENTS AT END 0F YEAR|423,789|443,152|





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||Unrestricted|Endowment|Total Funds|
|---|---|---|---|
||Funds|Funds|2 021|
||£££|||
|Bank interest receivable||1414||
|Dividends - Ordinary shares|658,425|74,140|732,565|
|Dividends - Preference shares|132,439||132,439|
|Interest received from fixed interest securities|1,155||1'155|
||792,019|74,154|866,173|
||Unrestricted|Endowment|Total Funds|
||Funds|Funds|2 02 0|
||£||£|
|Bank interest receivable||578|578|
|Dividends - Ordinary shares|660,627||660,627|
|Dividends - Preference shares|71,250|71,131|142,381|
|Interest received from fixed interest securities|13,580||13,580|
||745,457|71,709|817,166|





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||Endowment|Total Funds|Endowment|Total Funds|
|---|---|---|---|---|
||Funds|2021|Funds|2020|
||£££|||£|
|Investment management fees|74,154|74,154|71,709|71,709|
|EXPENDITURE ON CHARITABLE|ACTIVITIES BY FUND|TYPE|||
||Unrestricted|Total Funds|Unrestricted|Total Funds|
||Funds|2021|Funds|2020|
||£|£|£|£|
|Palliative Care|100,714|100'714|89,936|89,936|
|Medical Research|92,331|92,331|163,062|163,062|
|Health Education|106,874|106'874|96,673|96,673|
|Direct Relief of Sickness|242,066|242,066|300,730|300,730|
|Overseas|58,770|58'770|60,739|60,739|
|Support costs|155,373|155,373|135,831|135,831|
||756,128|756,128|846,971|846,971|



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||Activities||||
|---|---|---|---|---|
||undertaken||Total funds|Total funds|
||directly|Support costs|2021|2020|
||£|f|£|£|
|Palliative Care|100,714|15,730|116'444|102,094|
|Medical Research|92,331|14,422|106'753|185,107|
|Health Education|106,874|16,694|123,568|109,743|
|Direct Relief of Sickness|242,066|37,814|279'880|341,392|
|Overseas|58,770|9,180|67'950|68,950|
|Governance costs||61,533|61'533|39,685|
||600,755|155,373|756,128|846,971|





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||Staff costs        Other costs|Staff costs        Other costs|2021|2020|
|---|---|---|---|---|
||£|£|£|£|
|Palliative Care|12,715|3'015|15,730|12,158|
|Medical Research|11'658|2,764|14'422|22,045|
|Health Education|13'494|3'200|16'694|13,070|
|Direct Relief of Sickness|30'566|7'248|37'814|40,662|
|Overseas|7'420|1,760|9'180|8,211|
|Governance Costs|18'963|42,570|61'533|39,685|
||94,816|60'557|155,373|135,831|



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|||Endowment        Total Funds         Endowment         Total Funds|Endowment        Total Funds         Endowment         Total Funds|
|---|---|---|---|
|||Funds|2021                      Funds                       2020|
|||££££||
||Gains/(losses) on listed investments|5,894,456|5,894,456              (I,225,531)            (1,225,531)|
|11.|NET INCOME/(EXPENDITURE)|||
||Net income/(expenditure) is stated after charging/(crediting):|||
||||2021                         2020|
||||££|
||Depreciation of tangible fixed assets||993                          448|
|12.|AUDITORS REMUNERATION|||
||||2021                        2020|
||||££|
||Fees payable for the audit of the financial statements||14'100                       13,200|



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||2021|2020|
|---|---|---|
||£|£|
|Wages and salaries|84'396|74,756|
|Social security costs|2'635|4,043|
|Employer contributions to pension plans|7'785|7,891|
||94'816|86,690|





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|employees during the year is analysed as follows:||||
|---|---|---|---|
||2021||2020|
||No.||No.|
|Number of administrative staff||3||



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|Cost||
|---|---|
|At 1  October 2020||
|Additions||
|At 30 September 2021||
|Depreciation||
|At 1 October 2020||
|Charge for the year||
|At 30 September 2021||
|Carrying amount||
|At 30 September 2021|2,3 96                      2,396|
|At 30 September 2020|2,902                      2,902|





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||2021|2020|
|---|---|---|
||££||
|Market value at 1 October|29,277,285|30,650,399|
|Acquisitions at cost|5,181,073|2,898,079|
|Disposals at opening book value|(5,052,642)|(3 ,045,662)|
|Net investment gains/(losses)|5,894,456|(I,225,531)|
|Market value at 30 September|35,300,172|29,277,285|
|Portfolio Cash|163,833|286,538|
||35,464,005|29,563 ,823|
|Cumulative unrealised gains at year end|8,843,831|4,453,717|
|Historical cost at 30 September|26,620,174|25,110,106|



||2021                        2020|
|---|---|
||££|
|UK Listed investments||
|Equities - Ordinary shares|31,410,709            25,374,325|
|Equities - Preference shares|2,556,538               2,412,310|
|Fixed interest/cash and floating rate notes|1,332,925               I,490,650|
||35,300,172            29,277,285|
|Portfolio cash|163,833                   286,538|
||35,464,005            29,563 ,823|



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||2021|2020|
|---|---|---|
||££||
|Grant commitments|218,257|168,802|
|Other creditors|39,362|31,213|
||257,619|200,015|
|CREDITORS: amounts falling due after more than one year|||
||2021|2020|
||£|£|
|Grant commitments|15'050|13,750|



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|Unrestricted funds||||
|---|---|---|---|
||||At|
|||At|Gains and    30 September|
||I|october 2020                  Income         Expenditure|losses                          2021|
|||£££|£|
|Unrestricted Fund||289,911                     792,019                  (756,128)|325'802|
|||\|At|
|||At|\Gains and     30 September|
||1|october 2019                   Income          Expenditure|losses                         2020|
|||£££|£|
|Uurestricted Fund||391,425                    745,457                  (846,971)|289,911|





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|Endowment funds|||||
|---|---|---|---|---|
|||||At|
|||At||30 September|
||1|october 2020                   Income|Expenditure  Gains and losses|2021|
|||££|££|£|
|Expendable Endowment|||||
|Fund||29,316,046                     74,154|(74,154)              5,894,456            35,210,502||
|||||At|
|||At||30 September|
||1|october 2019                   Income|Expenditure  Gains and losses|2020|
|||££|££|£|
|Expendable Endowment|||||
|Fund||30,541,577                       71,709|(71,709)            (I,225,531)            29,316,046||



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||Unrestricted|Endowment        Total Funds|
|---|---|---|
||Fun ds|Funds                       2 021|
||£|££|
|Tangible fixed assets|2,396|2,396|
|Investments|253,503|35,210,502            35,464,005|
|Current assets|342,572|342,572|
|Creditors less than 1 year|(257,619)|(257,619)|
|Creditors greater than 1 year|(15,050)|(15,050)|
|Net assets|325,802|35,210,502            35,536,304|
||-I,||
||Unre stricte d|Endowment          Total Funds|
||Funds|Funds                       2 02 0|
||£££||
|Tangible fixed assets|2,902|2,902|
|Investments|247,777|29,316,046            29,563,823|
|Current assets|252,997|252,997|
|Creditors less than 1 year|(200,015)|(200,015)|
|Creditors greater than 1 year|(13,750)|(13,750)|
|Net assets|289,911|29,316,046             29,605,957|
|FINANCIAL INSTRUMENTS|||
|The carrying amount for each category of financial|instrument is as follows:||
|||2021                         2020|
|||££|
|Financial assets measured at fair value through income and expenditure|||
|Fixed asset listed investments||35,464,005            29,563 ,823|



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||||2021|2020|
|---|---|---|---|---|
||||££||
|Financial assets that are debt instruments measured at amortised cost|||||
|Accrued dividend income|||79,428|93,149|
|Financial liabilities measured at amortised cost|||||
|Other creditors|||18'000|18,000|
|Grants commitments|||233'307|182,552|
||||251'307|200,552|
|CASH GENERATED FROM OPERATIONS|||||
||||2021|2020|
||||££||
|Net income/(expenditure)|||5,930,347|( 1,327,045)|
|Adiustmentsfior:|||||
|Depreciation of tangible fixed assets|||993|448|
|Net gains/(losses) on investments|||(5,894,456)|I,225,531|
|Other interest receivable and similar income|||(866,173)|(817,166)|
|Changes in:|||||
|Trade and other debtors|||46|1,236|
|Trade and other creditors|||58,904|(66,575)|
||||(770,339)|(983 ,571 )|
|ANALYSIS OF CHANGES INNETDEBT|||||
||At 1  Oct|2020|Cash flows       At30Sep2021||
|||£|££||
|Cash at bank and in hand|156,614||103,342|259,956|
|Cash held by investment manager|286,538||(122,705)|163,833|
||443,152||(19,363)|423,789|



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