## ## ## |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|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||P fc
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IL|| ## ## ## ||||||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| ## ## ## ## ## ## ## ##