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2021-06-30-accounts

Trustees George Vestey DL
Peter Newnham
Jonathan
Agar DL
Susan Gull
Jordan Holder (from 1T"September 2020)
The Hon. Selina Hopkins
David Hughes (to 8'" December 2020)
Gulshanbir
Kayembe		 DL
William
Kendall
DL
Jane Millar (from 29'" July 2021)
Louisa Pepper
Neil Walmsley
Terrence Ward
Chief Executive Stephen Singleton MBE
Company Secretary Mandy Abdel-Aziz
Charity number 01109453
Company number 05369725
Registered office The Old Barns
Peninsula
Business		 Centre
Wherstead
Ipswich
IP9 2BB
Auditors Ensors Accountants LLP
Connexions
159Princes Street
Ipswich
IP1 1QJ

Bankers Barclays Bank pic Barclays Bank pic Barclays Bank pic
21Cornhill
Bury St Edmunds
IP33 1DY
Coutts &Co
Ground
Floor
1Boardman Business Park
Peachman
Way
Norwich
NR7 OWS
Lloyds Bank pic
Cornhill
North
Ipswich
IP1 1DG
Solicitors Birketts LLP
Providence House
141—145 Princes Street
Ipswich
IP11QI
Investment advisors Barratt &Cooke
SOpie Street
Norwich
NR1 3DW
CCLA
Senator House
85Queen Victoria Street
London
EC4V 4ET
Rathbones
North Wing, City House
126-130Hills Road
Cambridge
CB2 1RE

George Vestey DL Chair ofTrustees, Income Development Chair ofTrustees, Income Development Chair ofTrustees, Income Development Committee Chair
Peter Newnham Vice Chair, Grants &Community
Impact		 Committee, Income Development
Committee, Operations Committee
Jonathan
Agar		 DL Income Development Committee
Susan Gull Operations Committee Chair from 13"September 2021
Jordan Holder Grants and Community Impact Committee
from 1T"September 2020
The Hon. Selina Hopkins Income Development Committee
David Hughes Operations Committee to 8~ December 2020
Gulshanbir
Kayembe		 DL Grants &Community
Impact Committee
William
Kendall		 DL
Jane Millar Grants and Community Impact Committee
from 29"July 2021
Louisa Pepper Grants and Community Impact Committee
Neil Walmsley Operations Committee Chair to 13"September 2021
Terrence Ward Grants &Community
Impact Committee		 Chair

Notes Unrestricted Restdcted Endowment Total Unrestricted Restricted Endowment Total
funds Funds funds 2021 funds Funds funds 2020
E K E E
Income and endowments from:
Donations
and legacies
Donations and legacies 2 158,739 4,664,539 1,249,777 6,073,055 183,190 4,561,542 390,186 5,134,918
Grants 2 112,800 112,800 505,800 505,800
Other trading activities 3 6,000 6,000 44,695 26,100 70,795
Investments 4 54,445 423,779 478,224 65,501 437,317 502,818
Total income 213~184 sg207p118 1p249p777 6~670079 293,386 5,530,759 390,186 6,214,331
Expenditure
on:
Raising funds 167,317 19,568 31,499 218,384 155,219 78,890 31,339 265,448
Charitable
activities
Grants awarded 49,860 4,312,147 4,362,007 54,936 4,871,388 4,926,324
Other charitable octivities 499,637 18,339 517,976 501,321 5,943 507,264
Total expenditure 716,814 4,350,054 31899 5,098,367 711,476 4,956,221 31,339 5,699,036
Net gains/(losses)
on investments		 611 4,931 2,165,295 2,170,837 396 (249,994) (249,598)
Net income / (expenditure) (503,019) 861,995 3,383,573 3,742,549 (418,090) 574,934 108,853 265,697
Transfers between
funds		 482,039 (230,205) (251,834) 514,739 (326,897) (187,842)
Net movement
in funds		 (20,980) 631,790 3,131,739 3,742,549 96,649 248,037 (78,989) 265,697
Fund balances at 1July 2020 512,942 1,775,245 15,964,778 18,252,965 416,293 1,527,208 16,043,767 17,987,268
Fund balances at30June 2021 491,962 2,407,035 19,096,517 21,995,514 512,942 1~775p245 15964~778 18~252p965

2021 2020
E
Income 5,193,912 5,509,169
Gains / (losses) on investments 5,542 396
Interest and investment income 478,224 502,818
Gross income in the reporting
period		 5,677,678 6,012,383
Expenditure 5,059,781 5,661,313
Interest payable
Depreciation 7,087 6,384
Total expenditure
in the		 reporting period 5,066,868 5,667,697
Net income before tax in the reporting period 610,810 344,686
Tax payable
Net income
in the reporting
period		 610,810 344,686
The above excludes income for endowment.
Statement ofRecognised Gains and Losses
Net income for the year 610,810 344,686
Unrealised
gains		 on investments held by income funds
Net movement on endowment funds 3,131,739 (78,989)
3,742,549 265,697

2021 2020
Notes E
Fixed assets
Tangible assets 12 15,479 18,692
Investments 13 19,401,448 16,115,806
Total fixed assets 19,416,927 16,134,498
Current assets:
Debtors 14 415,572 463,909
Cash at bank and in hand 3,192,419 3,211,036
Total current assets 3,607,991 3,674,945
Liahilitlesr
Creditors amounts falling due within one
year 15 (942,154) (1,390,178)
Net current assets 2,665,837 2,284,767
Total assets less current liabilities 22,082,764 18,419,265
Creditors: amounts falling due after more
than one year 16 (87,250) (166,300)
Net assets 21,995p514 18,252,965
Thefunds ofthe charity:
Capital funds
Endowment
funds		 17 19,096,517 15,964,778
Income funds
Restricted funds 18 2,407,035 1,775,245
Unrestricted
funds		 491,962 512,942
Totalcharityfunds 21,995,514 18,252,965

2021 2020
Notes 6
Cash flows from operating activities:
Net cash (used in) operating activities
20a (767,941) (1,284,235)
Cash flows fram investing activities:
Dividends,
interest
and rents from
investments 478,224 502,818
Proceeds from the sale of investments 3,658,953 921,283
Purchase offixed assets (4,211) (10,642)
Purchase of investments (4,633,419) (947,628)
Net cosh (used)1generated in investing
activities (500,453) 465,831
Cash flows from financing activities:
Receipt ofendowments 1,249,777 390,186
Chongesin
cash ond cash equivalentsin
the year 20b (18,617) (428,218)
Cash and cash equivalents at the
beginning ofthe reporting period 3,211,036 3,639,254
Cash and cash equivolents ot the end of
the reporting period 20b 3,192319 3,211,036

Unrestricted Restricted Endowment Total Total
funds funds funds 2021 2020
f E E E
Donations and gifts 148,739 4,664,539 1,208,277 6,021,555 5,134,918
Legacy income 10,000 41,500 51,500
158,739 4,664,539 1,249,777 6,073,055 5,134,918
Donations, gifts a legacies
Unrestricted funds:
Corporate donations and gifts 9,950 10,926
Private donations
and		 gifts 88,913 101,595
Membership 59,876 70,669
158,739 183,190
Unrestdicted Restricted Endowment Total Total
funds funds funds 2021 2020
E E E 6 5
Grant income
Grants 112,800 112,800 505,800
Included
within income relating to grant making are the		 following grants
The Henry Smith Charity 112,800 505,800
112,800 505,800

3 Income from trading activities Income from trading activities Income from trading activities
Unrestricted Restdcted Endowment Total Total
funds funds funds 2021 2020
E 6 6 E 6
Event income 6,000 6,000 70,795
6,000 6,000 70,795
4 Investment income
Unrestricted Restricted Endowment Total Total
funds Funds funds 2021 2020
E 6 E E
Rental income from property 66,375 66,375 57,708
investments
Income from listed investments 54,038 354,966 409,004 432,310
Other investment income 407 2,438 2,845 12,800
54,445 423,779 478,224 502,818

Note Staff Other Grant Total Total
costs Depreciation Costs Funding 2021 2020
g 8 6 6 g E
Raising funds
Events and marketing 34,849 34,849 54,928
Support costs 7 125,541 1,205 12,395 139,141 159,639
Investment
management		 costs 38,486 38,486 38,795
Other investment
property		 costs 5,908 5,908 12,086
Total raising funds 125,541 1305 91,638 218,384 265~
Choritohie activities
Grants programme
Grant funding ofactivities 6 4,362,007 4,362,007 4,926,324
Support costs 7 232,856 2,835 46,502 282,193 260,757
232,856 2,835 46,502 4,362,007 4,644,200 5,187,081
Community
development
Support costs 7 132,914 2,338 24,906 160,158 171,941
Research and education
Support costs 7 56,088 709 7,547 64,344 64,572
56,088 709 7,547 64,344 64,572
Management,
operational		 and
financial
administration
Support costs 11,281 11,281 9994
Total charitable
activities		 421,858 5,882 90,236 4,362,007 4,879,983 5,433,588
Total expenditure 547,399 7,087 181,874 4362,007 5,098,367 5,699,036

Grants payable
2021 2020
6 6
Grants programme 4,362,007 4,926,324
2021 2020
6 6
Reconciliation ofgrants payable
Commitments made in the year 4,362,007 4,926,324
Grants paid during the year (4,737,901j (4,687,758)
Commitments at 1July 2020 1,132,570 894,004
Commitments at 30June 2021 756,676 1,132,570
Commitments at 30June 2021are payable as follows:
Within one year 669,426 966,270
After more than one year 87,250 166,300
756,676 1,132,570

Raising Grants Management Community Research a Total Total
funds programme a admin development education 2021 2020
Office and admin 5,548 29,366 10,769 3,263 48,946 55,883
Premises expenses 5,403 12,713 10,488 3,178 31,782 35,077
Staff costs 125,541 233,880 133,759 56,344 549,524 553,884
Depreciation 1,205 2,835 2,338 709 7,087 6,384
Information 1,444 3,399 2,804 850 8,497 5,681
technology costs
Governance costs 11,281 11,281 9,994
(Note 8)
139,141 282,193 11,281 160,158 64,344 657,117 666,903

2021 2020
Number Number
Key management personnel 4
Operational 12
15 16
The average number offull-time equivalent employees during the year was 13.6.
2021 2020
Employment
costs		 E E
yliages and salaries 472,467 484,413
Social security costs 40,717 41,692
Other pension costs 33,780 27,673
546,964 553,778

Pension and other post-retirement other post-retirement benefit commitments
Defined contribution
2021 2020
E E
Contributions payable by the company for the year 33,780 27,673

Fixtures, fittings
fk
equipment
Cost
At 1July 2020 58,096
Additions 4,211
Disposals (13,395)
At 30June 2021 48,912
Depreciation
At 1July 2020 39,404
On disposals (13,058)
Charge for the year 7,087
At30June 2021 33,433
Net book value
At30June 2021 15,479
At 30June 2020 18,692
Listed investment Unlisted Total
investments properties investments
6
Market value at 1July 2020 13,697,806 2,418,000 16,115,806
Disposals at opening book value (3,553,921) (3,553,921)
Acquisitions
at cost		 4,633,419 140,000 4,773,419
Change
in value		 in the year 1,810,344 255,800 2,066,144
Market value at 30June 2021 16,587,648 2,813,800 19,401,448
Historical cost:
At 30June 2021 13,163,482 2,351,750 1 15,515,233
At 30June 2020 11,755,818 2,211,750 1 13,967,569

14 Debtors
2021 2020
f 6
Trade debtors 97,875 25,600
Accrued income 222,194 353,722
Prepayments 19,912 24,441
Other debtors 75,591 60,146
415572 463909

15 Creditors: amounts falling due within one year
2021 2020
6 f
Trade creditors 20,713 26,894
Other creditors 218,055 367,365
Grants payable —see note 6 669,426 966,270
Accruals 33,960 29,649
942,154 1,390,178
16 Creditors: amounts falling due after more than one year
2021 2020
6 6
Grants payable —see note 6 87,250 166,300
87,250 166,300

Balance at Incoming Resources Other Investments Balance at
1July 2020 resources expended transfers gains on 30June 2021
disposal
6
Grantmaking funds 1,775,245 5,201,118 (4,344,054) (230,205) 4,931 2,407,035
Overhead funds 6,000 (6,000)
1,775,245 5,207,118 (4,350,054) (230,205) 4,931 2,407,035
Balance at Incoming Resources Other Investments Balance at
1July 2019 resources expended transfers gains on 30June 2020
disposal
6
Grantmaking funds 1,527,208 5,470,207 (4,895,669) (326,897) 396 1,775,245
Overhead funds 60,552 (60,552)
1,527,208 5,530,759 (4,956,221) (326,897) 396 1,775,245

Unrestricted Restricted Endowment Total
E E E
Fund balances at 30June 2021are represented by:
Tangible fixed assets 15,479 15,479
Investments 298,349 19,103,099 19p401,448
Current assets 216,967 3,391,024 3,607,991
Creditors; amounts falling due within one year (38,833) (896,739) (6,582) (942,154)
Creditors: amounts falling due after more than one year (87,250) (87,250)
491,962 2,407,035 19,096,517 21,995,514
Unrestricted Restricted Endowment Total
E E E E
Fund balances at 30June 2020are represented by:
Tangible fixed assets 18,692 18,692
Investments 145,176 15,970,630 16,115,806
Current assets 396,802 3,278,143 3,674,945
Creditors: amounts falling due within one year (47,728) (1,336,598) (5,852) (1,390,178)
Creditors: amounts falling due after more than one year (166,300) (166,300)
512,942 1,775,245 15,964,778 18,252,965

2021 2020
Net income / (expenditure)
forthe		 reported period (as
per the statement
offinancial activities)		 3,742,549 265,697
Adjustments
for:
Depreciation
charges		 7,087 6,384
(Gains) / losses on investments (2,066,144) 192,132
New endowments (1,249,777) (390,186)
Dividends interest and rents from investments (478,224) (502,818)
Loss / (profit) on sale of investment and assets (104,694) 57,466
(Increase) / decrease in debtors 48,336 (22,929)
Increase/(decrease) in creditors (527,074) (629,981)
Donated properties (140,000) (260,000)
Net cash provided
by		 (used in) operating activities (767,941) (1,284,235)

2020 Movement in 2021
in cash flow
E E
Cash at bank and in hand 3,211,036 (18,617) 3,192,419
3,211,036 (18,617) 3,192,419

Land and buildings Other
2021 2020 2021 2020
6 E 6 E
Expiry date:
Within one year 16,200 21,600 2,002 2333
Between two and five years 16,200 6,574 1,320
Over five years
16,200 37,800 8,576 3,653

Financial instruments
2021 2020
Financial assets measured at amortised
cost		 395,660 439,468
Financial assets measured at market value 19,401,448 16,115,806
19,797,108 16,555,274
Financial liabilities
measured		 at amortised cost 1,029,404 1,556,478