THE SCHRODER FOUNDATION Financial Statements 5 April 2021 ## ## |Contents|||Page| |---|---|---|---| |Reference and administrative||information|| |Report ofthe Trustees|||| |Independent
auditor's|report||5-6| |Statement
offinancial|activities||| |Balance sheet|||| |Statement
ofcash flows|||| |Notes to the financial|statements||10-17| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||Total|Total| |||||Notes|Restrictedf|Unrestricted
6|fundsf|funds| |Income and endowments||from:||||||| |Investments||||||440,588|440,588|489,173| |Administration
fees receivable||||||44,366|44,366|46,514| |Total||||||484,954|484,954|535,687| |Expenditure
on:||||||||| |Raising funds —investment||management|fees|||12,884|12,884|13,924| |Charitable
activities:||||||||| |Administration||||||144,543|144,543|140,490| |Charitable
donations||||||1,313,500|1,313,500|1,347,873| |Governance||||||10,200|10,200|7,500| |Total||||||1,481,127|1,481,127|1,509,787| |Net expenditure
before|gains|||||||| |and losses on investments||||||(996,173)|(996,173)|(974,100)| |Net gains/(losses)
on investments||||||2,081,921|2,081,921|(1,523,126)| |Net income/(expenditure)||being||||||| |movement
in funds||||||1,085,748|1,085,748|(2,497,226)| |Fund balances brought|forward|||||10,512,740|10,512,740|13,009,966| |Fund balances carried forward||||||11,598,488|11,598,488|10,512,740| ## ## ||||||||Notes||2021|2020| |---|---|---|---|---|---|---|---|---|---|---| ||||||||||6|5| |Fixed assets||||||||||| |investments||||||||11,297,200||9,772,734| |Current assets||||||||||| |Debtors|||||||||113,350|113,538| |Cash at bank and||in|hand||||||225,470|992,238| ||||||||||338,820|1,105,776| |Crerfitors: amounts|||due within||1 year||10||(37,532)|(365,770)| |Net current|assets||||||||301,288|740,006| |Net assets||||||||11~598)488||10)512)740| |Funds||||||||||| |Unrestricted|funds||||||11|11,598,488||10,512,740| |Total funds||||||||11,598,488||10,512,740| |The financial|statements|||were approved||by the Trustees and authorised|for issue on|~ '
Q|l
if/ g|and signed on| |their behalf by:||||||||||| ## ## ## |Statement ofCas|h Flows|f|or|the y|ea|r ended|5 April|20|21|| |---|---|---|---|---|---|---|---|---|---|---| ||||||||Notes||2021|2020| ||||||||||f|6| |Cash flows from operating|activities:|||||||||| |Net cash used in operating|activities||||||(a)||(1,764,811)|(1,116,235)| |Cash flows from investing|activities:|||||||||| |Dividends
and interest
from|investments||||||||248,043|251,721| |Proceeds from sale of investments|||||||||770,797|1,558,615| |Purchase
of investments|||||||||(16,096)|(48,856)| |Change
in investment
cash|||||||||(4,701)|(9,757)| |Net cash provided
by investing
activities|||||||||998,043|1,751,723| |Change
in cash and cash|equivalents|in the reporting|||period||||(766,768)|635,488| |Cash and cash equivalents|at the beginning||ofthe reporting|||period|(b)||992,238|356,750| |Cash and cash equivalents|at the end|ofthe reporting|||period||(b)||225,470|992,238| |(a) Reconciliation
ofnet income/(expenditure)||||to net|cash flows from||operating|activities||| |Net income/(expenditure)|for the reporting||period||||||1,085,748|(2,497,226)| |Adjustments
for:||||||||||| |(Gains)
/ losses on investments|||||||||(2,081,921)|1,523,126| |Dividends
and interest from|investments||||||||(440,588)|(489,173)| |Decrease
/ (increase)
in debtors|||||||||188|(7,666)| |(Decrease)
/ increase
in creditors|||||||||(328,238)|354,704| |Net cash used in operating|activities||||||||(1,764,811)|(1,116,235)| |(b) Analysis
ofcash and cash equivalents||||||||||| |Cash in hand|||||||||225,470|992,238| |Total cash and cash equivalents|||||||||225,470|992,238| |(c) Analysis ofchanges
in|net debt:|||||||||| |||||||6April|||Non-cash|5April| |||||||2020
6|Cash flows
8||movement
6|2021f| |Cash and cash equivalents||||||992,238|(766,768)|||225,470| ## ## ## ## ## ## ## ## ## |to the financial|st|atements|for the year en|ded 5|April 202|1| |---|---|---|---|---|---|---| |Expenditure
on raising|funds||||2021f|2020
8| |Investment
management|fees||||12,884|13,924| ||||||12,884|13,924| |All costs incurred
in both|2021|and 2020 were|in respect of unrestricted|funds.||| |Expenditure
on administration||costs|||2021|2020f| |Salary and pension costs:||||||| |Wages and salaries|||||86,162|78,745| |Social security costs|||||5,398|4,569| |Pension costs|||||9,317|7,282| |Consultancy
costs|||||7,697|2,220| |Other staff related costs|||||721|6,451| |Office running
costs|||||35,248|40,732| |Training
and travel||||||491| ||||||144,543|140,490| ## ## |) Charitable
donations
mad|e during|the year:|2021f| |---|---|---|---| |Age UK|||50,000| |Amref UK|||25,000| |Ashden
Sustainable
Solutions, Better||Lives|40,000| |British German
Association|||20,000| |Buttle UK (Chances for Children)|||40,000| |CAMFED International|||40,000| |Cancer Research
UK|||100,000| |Children
and Families Across Borders||(CFAB)|25,000| |Clean Break Theatre Company|||30,000| |Environmental
Funders
Network|||10,000| |Family
Links|||30,000| |Fauna &Flora International|||35,000| |Green Alliance Trust, The|||35,000| |Helpforce
Community
Trust|||30,000| |Hope and Homes for Children|||20,000| |Human
Rights Watch|||3,000| |Institute
for Fiscal Studies, The|||25,000| |IAH Charity Company
Limited|||25,000| |Irene Taylor Trust, The|||25,000| |Islay &Jura Sub-Committee|(see note|6b)|40,500| |Carried forward|||648,500| ## ## |5.|Charitable
donations
(|continue|continue|d)|d)|d)||| |---|---|---|---|---|---|---|---|---| ||a) Charitable
donations|made||during the year:||||2021f| ||Brought forward|||||||648,500| ||KAA Intrepedus
Trust|||||||15,000| ||London Youth Rowing|Ltd||||||30,000| ||Medecins Sans Frontieres|||||||75,000| ||OCD Action|||||||15,000| ||One Small Thing|||||||30,000| ||Professional
Teaching|Institute,||The (formerly||The Prince's Teaching|Institute)|40,000| ||Remote Vision Measurement||Research Programme|||||20,000| ||Royal Botanical Gardens,
Kew|||||||35,000| ||Royal Horticultural
Society, The|||||||40,000| ||Royal Marsden
Cancer|Charity,||The||||50,000| ||Royal National
Theatre,|The||||||30,000| ||Royal Shakespeare
Company,|||The||||25,000| ||School-Home
Support|Service||(UK)||||35,000| ||Seenaryo|||||||30,000| ||St Giles Trust|||||||40,000| ||St Mark's Hospital
Foundation|||||||25,000| ||St Martin-in-the-Fields|Trust||||||50,000| ||Scouts Association,
The|||||||25,000| ||University
of Exeter|||||||30,000| ||Whitley
Fund for Nature|||||||25,000| ||2021 Total|||||||1,313,500| ||2020 Total|||||||1,347,873| |b)|Charitable
donations
approved
by||the||Islay &Jure Sub-Committee:|||2021f| ||Argyll
Piping Trust|||||||7,000| ||Coisir Ghaidlig
lie (Islay|Gaelic|Choir)|||||750| ||Finlaggan
Trust|||||||200| ||Glasgow
Islay Gaelic Choir|||||||750| ||Islay &Jura Community|Enterprise|||Ltd|||6,000| ||Islay &Jure Community|Piping|and||Drumming|Club||500| ||Islay &Jura Highland
Dancers|||||||3,000| ||Islay Book Festival|||||||1,000| ||Islay Community
Access|Group||||||550| ||Islay Development
Initiative|||||||10,000| ||Islay High School Parent|Council||||||500| ||Islay Pipe Band Association|||||||4,000| ||Islay Quilters|||||||1,000| ||Kilarrow Parish Church|||||||500| ||Kilmeny
Community
Playing
Fields|||||||750| ||Museum
of Islay Life|||||||500| ||North West Islay Church|ofScotland||||||500| ||Rhinn's
Playing
Field Association|||||||3,000| ||2021 Total|||||||40,500| ||2020 Total|||||||51,630| ## ## ## |Net investment
gains I(losses)|Net investment
gains I(losses)|Net investment
gains I(losses)|Net investment
gains I(losses)||2021f|2020f| |---|---|---|---|---|---|---| |Realised|||||95,561|32,934| |Unrealised|||||1,986,360|(1,556,060)| ||||||2,081,921|(1,523,126)| |Net movement
in|funds|||||| |Net movement
in funds is stated|||after charging:|||| ||||||2021
6|2020f| |Trustees'
emoluments||||||| |Auditor's
remuneration||||||| |-as auditor|||||10,200|6,000| |-for accountancy|services|||||1,500| |Investments|||||2021f|2020| |Market value brought||forward|||9,762,920|12,558,353| |Additions
at cost|||||208,641|286,308| |Disposals proceeds|||||(770,797)|(1,558,615)| |Net gains/(losses)|on disposals||and revaluations||2,081,921|(1,523,126)| ||||||11,282,685|9,762,920| |Portfolio cash held|by the investment|||manager|14,515|9,814| |Market value carried||forward|||11,297,200|9,772,734| |Historic cost carried forward|||||10,063,586|10,576,695| |Investments
comprise the following:||||||| ||||||2021
6|2020f| |Equities (listed)|||||11,120,174|9,584,312| |Private equity|||||162,511|178,608| ||||||11,282,685|9,762,920| |Debtors|||||2021
F|2020f| |Dividends
and interest receivable|||||62,271|62,072| |Other administration||fees receivable|||46,017|46,514| |Other debtors|||||5,062|4,952| ||||||113,350|113,538| ## ## |10.|Creditors: amounts
falling|due within one year||2021
5|2020f| |---|---|---|---|---|---| ||Grant creditors|||23,000|355,000| ||Accruals;||||| ||Auditor's fees for audit and accountancy|||10,200|7,500| ||Accountancy
fees|||1,000|| ||Investment
management|fee payable||3,332|3,270| |||||37,532|365,770| ||Reconciliation
of Grant creditors:||||| |||||2021
6|2020f| ||Balance of grant creditors at 6April 2020|||355,000|| ||Grants awarded
in the year|||1313,500|1,347,873| ||Grants paid
in the year|||(1,645,500)|(992,873)| ||Balance of grant creditors at 5April 2021|||23,000|355,000| |11.|Analysis
of net assets between funds —2021||Restricted|Unrestricted|Total| ||||fundsf|fundsf|fundsf| ||Investments|||11,297,200|11,297,200| ||Net current assets|||301,288|. 301,288| |||||11,598,488|11,598,488| |Analysis of net assets between|funds —2020|Restricted|Unrestricted|Total| |---|---|---|---|---| |||funds|funds|funds| |||6|6|6| |Investments|||9,772,734|9,772,734| |Net current assets|||740,006|740,006| ||||10,512,740|10,512,740| ## ## ## ## ## ||||||2021f|2020
8| |---|---|---|---|---|---|---| |Not|later|than|1|year|25,200|26,406| ## ##