##
|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|||
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|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||
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|||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|
##
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|||||||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|
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|||||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|
##
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##
||||||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|
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||||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|
##
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|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|
##
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##
|||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|
##
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##
|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|
##
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##
##
|||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|
##
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|||||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|
##
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##
||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|
##
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##
|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|
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||||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|
##
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##
||||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|
##
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||||||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|
##
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|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|