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2022-06-30-accounts

Trustees George Vestey DL
Peter Newnham
Jonathan
Agar DL
Susan Gull
Jordan Holder
The Hon. Selina Hopkins
Gulshanbir
Kayembe		 DL (to 13'"January 2022)
William
Kendall
DL
Jane Millar (from 29'" July 2021)
Louisa Pepper (to 13'"January 2022)
Neil Walmsley
Terrence Ward
Gareth Wilson (from 1x June 2022)
Chief Executive Stephen Singleton MBE (to 31"August 2022)
Melanic Craig (from 1"September 2022)
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 1CLI

Bankers Barclays Bank pic Barclays Bank pic
21Cornhill
Bury St Edmunds
IP33 1DY
Lloyds Bank pic
Cornhill
North
Ipswich
IP1 1DG
Solicitors Birketts LLP
Providence House
141—145Princes Street
Ipswich
IP11QI
Investment advisors Barratt &Cooke
50pie Street
Norwich
NR1 3DW
CCLA
Senator House
85Queen Victoria Street
London
EC4V 4ET
Rathbones
North Wing, City House
126-130Hills Road
Cambridge
CB2 1RE
Evelyn Partners
45Gresham Street
London
EC2V 7BG

Chairman's statement 1-2
Trustees' report 3 —17
Statement oftrustees' responsibilities
Independent
auditors'		 report 19-22
Statement offinancial activities 23
Summary income and expenditure account
Balance sheet 25
Cash flow statement 26
Notes to the accounts 27-44

George Vestey DL Chair ofTrustees, Income Development Committee 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
Jordan Holder Grants and Community
Impact Committee
The Hon. Selina Hopkins Income Development
Committee
Gulshanbir
Kayembe		 DL Grants &Community
Impact Committee		 (retired 13'"January 2022)
William
Kendall		 DL
Jane Millar Grants and Community
Impact Committee
Louisa Pepper Grants and Community
Impact Committee		 (retired 13eJanuary 2022)
Neil Walmsley Operations
Committee
Terrence Ward Grants &Community
Impact Committee		 Chair
Gareth Wilson Newly appointed

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2022 2021
6 f
Income 5,861,867 5,193,912
Gains / (losses) on investments (1,556) 5,542
Interest and investment income 534,551 478,224
Gross income
in the reporting
period		 6,394,862 5,677,678
Expenditure 5,682,349 5,059,781
Interest payable
Depreciation 9,186 7,087
Total expenditure
in the		 reporting period 5,691,535 5,066,868
Net income before tax in the reporting period 703,327 610,810
Tax payable
Net income in the reporting
period		 703,327 610,810
The above excludes income for endowment.
Statement ofRecognised Gains and Losses
Net income for the year 703,327 610,810
LInrealised
gains on investments		 held by income funds
Net movement
on endowment		 funds 979,960 3,131,739
1,683,287 3,742,549

2022 2021
Notes 6
Fixed ossets
Tangible assets 12 42,381 15,479
Investments 13 19,774,385 19,401,448
Total fixed assets 19,816,766 19,416,927
Current assets:
Debtors 14 934,740 415,572
Cash at bank and in hand 3,974,636 3,192,419
Total current assets 4,909,376 3,607,991
Liabilities:
Creditors amounts falling due within one
year 15 (1,029,341) (942,154)
Net current assets 3,880,035 2,665,837
Total assets less current liabilities 23,696,801 22,082,764
Creditors: amounts falling due after more
than one year 16 (18,000) (87,250)
Net assets 23,678,801 21,995,514
Thefunds ofthe charity:
Capital funds
Endowment
funds		 17 20,076,477 19,096,517
Income funds
Restricted funds 18 3,087,196 2,407,035
Unrestricted
funds		 515,128 491,962
Total charity funds 23,678,801 21,995,514

2022 2021
Notes g 6
Cash floivs fram operating actlvitiesi
Net cash (provided
by/used		 in) operating
activities 20a 744,674 (767,941)
Cash flows from investing activities:
Dividends,
interest
and rents from
investments 534,551 478,224
Proceeds from the sale ofinvestments 10,882,908 3,658,953
Purchase offixed assets (36,088) (4,211)
Purchase ofinvestments (12,401,448) (4,633,419)
Net cash used in investing activities (1,020,077) (500,453)
Cash flows from financing activities:
Receipt ofendowments 1,057,620 1,249,777
Changes in cash and cash equivalentsin
the year 20b 782,217 (18,617)
Cash and cash equivalents at the
beginning
ofthe reporting		 period 3,192,419 3,211,036
Cash and cash equivalents at the end of
the reporting period 20b 3,974,636 3,192,419

Unrestricted Restricted Endowment Total Total
funds funds funds 2022 2021
f E 6 E E
Donations
and gifts		 235,584 5,055,535 417,821 5,708,940 6,021,555
Legacy income 1,501,000 639,799 2,140,799 51,500
1,736,584 5,055,535 1,057,620 7,849,739 6,073,055
Donations, gifts fk legacies
Unrestricted funds;
Corporate donations and gifts 28,399 9,950
Private donations
and		 gifts 1,646,005 88,913
Membership 62,180 59,876
1,736,584 158,739
Unrestricted Restricted Endowment Total Total
funds funds funds 2022 2021
E E E E E
Grant income
Grants 86,100 86,100 112,800
Included
within income relating to grant making		 are the following grants
The Henry Smith Charity 86,100 112,800
86,100 112,800

3 Income from trading activities Income from trading activities Income from trading activities
Unrestricted Restricted Endowment Total Total
funds funds funds 2022 2021
E E E 6
Event income 85,106 85,106 6,000
85,106 85,106 6,000
4 Investment income
Unrestricted Restricted Endowment Total Total
funds
E		 Funds
E		 fundsf 2022
E		 2021
E
Rental income from property 64,791 64,791 66,375
investments
Income from listed investments 57,894 405,163 463,057 409,004
Other investment income 490 6,213 6,703 2,845
58,384 476,167 534,551 478,224

Note Staff Other Grant Total Total
costs Depreciation Costs Funding 2022 2021
E E E 6 6
Raising funds
Events and marketing 20,196 20,196 34,849
Support costs 7 168,274 1,562 16,096 185,932 139,141
Investment
management		 costs 43,880 43,880 38,486
Other investment
property		 costs 25,647 25,647 5,908
Total raising funds 168,274 1,562 105419 275,655 218,384
Charitable activities
Grants programme
Grant funding of activities 6 4,866,737 4,866,737 4,362,007
Support costs 7 231,004 3,674 66,119 300,797 282,193
231,004 3,674 66,119 4,866,737 5,167,534 4,644,200
Community
development
Support costs 7 147,357 3,031 31,246 181,634 160,158
Research and education
Support costs 7 72,974 919 9,469 83,362 64,344
Management,
operational		 and
financial administration
Support costs 18,420 18,420 11,281
Total charitable
activities		 451,335 7,624 125,254 4,866,737 5,450,950 4,879,983
Total expenditure 619,609 9,186 231,073 4,866,737 5,726,605 5,098,367

Grants payable
2022 2021
8 6
Grants programme 4,866,737 4,362,007
2022 2021
f f
Reconciliation ofgrants payable
commitments made in the year 4,866,737 4,362,007
Grants paid during the year (4,841,449) (4,737,901)
Commitments at 1July 2021 756,676 1,132,570
Commitments at 30June 2022 781,964 756,676
Commitments at 30June 2022 are payable as follows:
Within one year 763,964 669,426
After more than one year 18,000 87,250
781,964 756,676

Raising Grants Management Community Research & Total Total
funds programme 8 admin development education 2022 2021
6 E
Office and admin. 7,797 46,593 15,139 4,587 74,116 48,946
Premises expenses 5,921 13,931 11,493 3,483 34,828 31,782
Staffcosts 168,274 231,004 147,357 72,974 619,609 549,524
Depreciation 1,562 3,674 3,031 919 9,186 7,087
Information 2,378 5,595 4,614 1,399 13,986 8,497
technology costs
Governance costs 18,420 18,420 11,281
(Note 8)
185,932 300,797 18,420 181,634 83,362 770,145 657,117
2022 2021
6 6
Legal and professional fees 14,300 10,406
Other costs 4,120 875
18,420 11,281

2022 2021
Number Number
Key management personnel 4
Operational 14
18 15
The average number offull-time equivalent employees during the year was 14.7(2021:13.6)
2022 2021
Employment
costs		 E E
Wages and salaries 504,760 472,467
Social security costs 45,458 40,717
Other pension costs 37,189 33,780
587,407 546,964

2022 2021
E E
Contributions payable by the company for the year 37,189 33,780

Fixtures, fittings &
equipment
Cost
At 1July 2021 48,912
Additions 36,088
Disposals (5,340)
At30June 2022 79,660
Depreciation
At 1July 2021 33,433
On disposals (5,340)
Charge for the year 9,186
At30June 2022 37,279
lect book value
At30June 2022 42,381
At 30June 2021 15,479
Listed Investment Unlisted Total
investments properties investments
f
Market value at 1July 2021 16,587,648 2,813,800 19,401,448
Disposals at opening book value (10,936,211) (10,936,211)
Acquisitions
at cost		 12,401,448 12,401,448
Change
in value in the year		 (1,092,300) (1,092,300)
Market value at30June 2022 16,960,585 2,813,800 19,774,385
Historical cost:
At 30June 2022 16,559,571 2,351,750 1 18,911,322
At 30June 2021 13,163,482 2,351,750 1 15,515,233

Debtors
2022
f		 2021f
Trade debtors 310,250 97,875
Accrued income 509,321 222,194
Prepayments 19,396 19,912
Other debtors 95,773 75,591
934,740 415,572

15 Creditors: amounts falling due within one year
2022 2021
6 6
Trade creditors 27,697 20,713
Other creditors 213,612 218,055
Grants payable —see note 6 763,964 669,426
Accruals 24,068 33,960
1,029,341 942,154
16 Creditors: amounts falling due after more than one year
2022 2021
6 6
Grants payable —see note 6 18,000 87,250
18,000 87,250

17 Endowment funds summary
Balance at Income Investment Other Investment Balance at
1July 2021 fees transfers gains/losses 30June 2022
f E
Linked charity 1,088,633 (10,886) (81,124) 996,623
Other endowment 13,868,096 1,045,445 (35,070) 1,112,344 (465,429) 15,525,386
Community First funds 4,139,788 12,175 (597,495) 3,554,468
19,096,517 1,057,620 (35,070) 1,101,458 (1,144,048) 20,076,477
Balance at Income Investment Other Investment Balance at
1July 2020 fees transfers gains/losses 30June 2021
Linked charity 968,837 (9,688) 129,484 1,088,633
Other endowment 11,277,676 1,217,342 (31,499) (242,146) 1,646,723 13,868,096
Community First funds 3,718,265 32,435 389,088 4,139,788
15,964,778 1,249,777 (31,499) (251,834) 2,165,295 19,096,517

Balance at Incoming Resources Other Investments Balance at
1July 2021 resources expended transfers gains on 30June 2022
disposal
6
Grantmaking funds 2,407,035 5,696,908 (4,837,052) (171,220) (8,475) 3,087,196
Overhead funds 6,000 (6,000)
2,407,035 5,702,908 (4,843,052) (171,220) (8,475) 3,087,196
Balance at Incoming Resources Other Investments Balance at
1July 2020 resources expended transfers gains on 30June 2021
disposal
8
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

Unrestdcted Restricted Endowment Total
E E f f
Fund balances at 30June 2022 are represented by:
Tangible fixed assets 11,567 30,814 42,381
Investments 63,902 19,710,483 19,774,385
Current assets 482,796 4,053,506 373,074 4,909,376
Creditors: amounts falling due within one year (43,137) (979,124) (7,080) (1,029,341)
Creditors: amounts falling due after more than one year (18,000) (18,000)
515,128 3,087,196 20,076,477 23,678,801
Unrestricted Restricted Endowment Total
E E E E
Fund balances at 30June 2021are represented by:
Tangible fixed assets 15,479 15,479
Investments 298,349 19,103,099 19,401,448
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

2022 2021
Net income/
(expenditure)
for		 the reported period (as
per the statement
offinancial		 activities) 1,683,287 3,742,549
Adjustments
for:
Depreciation
charges		 9,186 7,087
(Gains) / losses on investments 1,092,300 (2,066,144)
New endowments (1,057,620) (1,249,777)
Dividends
interest and rents from		 investments (534,551) (478,224)
Loss / (profit) on sale of investment and assets 53,304 (104,694)
(Increase) / decrease in debtors (519,169) 48,336
Increase/(decrease)
in creditors		 17,937 (527,074)
Donated properties (140,000)
Net cash provided
by (used in)		 operating activities 744,674 (767,941)
2021 Movement in 2022
in cash flow
6 E E
Cash at bank and in hand 3,192,419 782,217 3,974,636
3,192,419 782,217 3,974,636

Land and buildings Other
2022 2021 2022 2021
6 E f. E
Expiry date:
Within one year 24,750 16,200 1,688 2,002
getween two and five years 116,250 4,724 6,574
Over five years
142,000 16,200 6,412 8,576