|INDEX|||||Page| |---|---|---|---|---|---| |Report ofthe trustees|||||| |Independent|auditor's|report|||12-14| |Consolidated|statement|offinancial|activities||15| |Consolidated|balance|sheet|||16| |Charity aggregated
balance sheet|||||17| |Consolidated|statement|ofcashllows|||18| |Consolidated|summary|income and|expenditure|account|18| |Accounting|policies and notes to the||financial statements||19-32| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Endowment|Totalfunds|Totalfunds| |---|---|---|---|---|---|---|---| ||||Note|funds|funds|2021|2020| |Income and endowments|from:||||||| |Charitable
activities —rental||income||117,858||117,858|106,483| |Other trading activities||||48,134||48,134|45,557| |Investments||||830,468|42,390|872,858|703,682| |Other income|||||36,691|36,691|18,086| |Total||||996/60|79,081|1,075,541|873408| |Expenditure
on:|||||||| |Raising funds:|||||||| |Investment
Manager costs||||18,522|122,187|140,709|86,736| |Legal and other Professional||Fees||5,975|29,435|35,410|18,906| |Cost of raising funds||||24/97|151,622|176,119|105,642| |Expenditure
on charitable
activities:|||||||| |Grants and donations|||3|2,979,116||2,979,116|1,738,819| |Depreciation||||263,523|74,600|338,123|338,123| |Support and overhead
costs|||4|93,048||93,048|110,797| |Cost ofcharitable activities||||3,335,687|74,600|3,410,287|2,187,739| |Total expenditure||||3,360,184|226,222|3,586,406|2,293,381| |Net income / (expenditure)||||(2~363g724)|(147~141)|(2p510g865)|(1~419g573)| |Net gains / (losses) on investments|||9|947,368|5,173,626|6,120,994|(2,452,795)| |Unwinding
ofdiscounts on|investment||||||| |sale|||12||810,013|810,013|191,171| |Other recognised
gains / (losses)|||12||(111,940)|(111,940)|| |Net movement
In funds||||(1,416,356)|5,724,558|4,308,202|(3,681,197)| |Reconciliation
offunds:|||||||| |Total funds brought forward||||7,898,700|32,929,938|40,828,638|44,509,835| |Total funds carried forward|||15|6,482,344|38,654,496|45,136,840|40,828,638| ## |||||Unrestricted|Endowment|Totalfunds|Totalfunds| |---|---|---|---|---|---|---|---| |Fixed assets:|||Note|funds|funds|2021|2020| |Tangible assets|||7|4,005,994|1,319,300|5,325,294|5,663,417| |Investments|||9|5,198,505|30,957,100|36,155,605|27,130,507| |Total fixed assets||||9,204g99|32,276,400|41,480,899|32,793,924| |Non-current
assets:|||||||| |Debtors: Amounts|falling due after more||||||| |than one year|||10||||2,358,077| |Current assets:|||10||||| |Debtors||||86,121|2,807,234|2,893,355|3,124,995| |Cash at bank and in||hand||1,117,369|3,795,057|4,912,426|4,336,655| |Total current assets||||1,203/90|6,602,291|7,805,781|7,461,650| |LIabilities:|||||||| |Creditors: Amounts||falling due within one|||||| |year||||(1,111,553)|(224,195)|(1,335,748)|(391,382)| |Net current assets|or liabilities|||91,937|6,378,096|6/70,033|7,070,268| |Total assets less current liabilities||||9,296,436|38,654/96|47,950,932|42,222,269| |Creditors: Amounts||falling due after more|||||| |than one year|||11|(2,814,092)||(2,814,092)|(1,393,631)| |Net assets||||6,482,344|38,654,496|45p136,840|40,828,638| |The funds ofthe charity:|||14||||| |Endowment
funds|||||38,654,496|38,654,496|32,929,938| |Unrestricted
funds||||6,482,344||6,482,344|7,898,700| |||||6,482,344|38,654~96|45,136,840|40,828,638| ## |||||Charitable|Charitable||| |---|---|---|---|---|---|---|---| |||||Company|Trust||| |||||Unrestricted|Endowment|Total funds|Total funds| ||||Note|funds|funds|2021|2020| |Fixed assets:|||||||| |Tangible assets|||7|4,005,994|1,319,300|5,325,294|5,663,417| |Investments|||9|5,198,505|30,957,100|36,155,605|27,130,507| |Totalfixed assets||||9,204,499|32,276800|41~0p899|32p793,924| |Non-current
assets:|||||||| |Debtors: Amounts|falling due after more than||||||| |one year|||10||||2,358,077| |Current assets:|||10||||| |Debtors||||86,121|2,807,234|2,893,355|3,124,995| |Cash at bank and in||hand||1,117,369|3,795,057|4,912,426|4,336,655| |Total current assets||||1,203,490|6,602,291|7,805,781|7,461,650| |Liabilities:|||||||| |Creditors: Amounts||falling due within one year|11|(1,111,553)|(224,195)|(1,335,748)|(391,382)| |Net current assets|or liabilities|||91,937|6,378,096|6,470,033|7,070,268| |Total assets less current liabilities||||9,296,436|38,654,496|47,950,932|42,222,269| |Creditors: Amounts||falling due after more|||||| |than one year|||11|(2,814,092)||(2,814,092)|(1,393,631)| |Net assets||||6,482,344|38,654,496|45,136,840|40,$28,638| |The funds ofthe charity:|||14||||| |Endowment
funds|||||38,654,496|38,654,496|32,929,938| |Unrestricted
funds||||6,482,344||6,482,344|7,898,700| |||||6,482,344|38,654,496|45,136,840|40,$28,638| |Reconciliation
offunds:|||||||| |Total funds brought||forward||7,898,700|32,929,938|40,828,638|44,509,835| |Net movement
in funds||||(1,416,356)|5,724,558|4,308,202|(3,681,197)| |Total funds carried|forward|||6,482,344|38,654,496|45,136,840|40,828,638| ## ||||||Total funds|Total funds| |---|---|---|---|---|---|---| |||||Note|2021|2020| |Net cash used in operating|activities|||16|2,747,726|2,616,783| |Cash flows fmm activities:||||||| |Interest and dividends|||||872,858|703,682| |Cash provided
by investments||and activities|||3,620,584|$,320~5| |Cash flows from other sources:||||||| |Transfer to investment
funds|||||(3,044,813)|(7,508,213)| |Change in cash and cash equivalents|||in the year||575,771|(4,187,748)| |Cash and cash equivalents|brought forward||||4,336,655|8,524,403| |Cash and cash equivalents|carried forward||||4p912,426|4,$36,655| ## |||2021|2020| |---|---|---|---| |Total income||1,075,541|873,808| |Total expenditure||(3,586,406)|(2,293,381)| |Gains/(losses)
on|investments|6,120,994|(2,452,795)| |Income discounted|cashtlows|810,073|191,171| |Other recognised|gains/(losses)|(111,940)|| |Net income / expenditure
for year||4,308,202|($,6$1,197)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |2.|Investment
income|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Unrestricted|||Endowed|2021|2020| |||||||||funds||funds||| ||||||||||||E|E| ||Investments||||||828,980|||42,390|871,370|667,667| ||Bank Interest|||||||1,488|||1,488|36,015| ||||||||830,468|||42,390|872,858|703,682| ||Other income|||||||||36,691|36,691|18,086| |3.|Analysis ofcharitable||expenditure|||-grants|and donations|||||| ||||||||||||2021|2020| ||||||||||||E|E| ||Premises for scientific|research and||||learning||||||54,994| ||Studentships||||||||||2,284,530|356,500| ||Research grants||||||||||494,112|1,209,561| ||Education||||||||||61,017|80,963| ||Other grants and donations||||||||||139,457|36,801| ||||||||||||2,979,116|1,738,819| ||Purpose||||||Paid|to||||2021| ||||||||||||E|Paid and/or| |||||||||||||accrued| ||Studentships||||||JIC|||||2,284,530| ||Research grants:|||||||||||| ||Data driven science fellowship||||||Earlham||Institute|||333,204| ||Amylose
Research fellowship||||||Quadram||Institute|||160,908| ||Research grants total|||||||||||494,112| ||Education:|||||||||||| ||Undergraduate
Summer||School*||||JIC|||||(20,000)| ||Women ofthe Future||||||JIC|||||1,500| ||FFDTannual operations||and|Gaia|||Food|Farming &||Discovery||| ||science event||||||Trust|||||30,000| ||Pulse project||||||LEAF|Education||||17,375| ||Annual
grant as per governing||||document||Rutlish Foundation|||||1,000| ||Agricultural
bursaries||||||Individuals|||||31,142| ||Education total|||||||||||61p017| ||Other grants:|||||||||||| ||Rare books collection|—administration|||||JIC|||||29,847| ||Rare books air conditioning|||units|||JIC|||||90,000| ||Student support activities||||||JIC|||||12,000| ||Diversity focused lectures||||||JIC|||||700| ||Stakeholder
communications||||in science events||Sense About Science|||||6,410| ||Other||||||Other|||||500| ||Other grants total|||||||||||139,457| ## |||||2021|2020| |---|---|---|---|---|---| |Support|ond overhead costs|||f|f| |Trustee|costs and|expenses including|meetings|37,367|45,537| |Clerk to|Trustees|and Financial Administration||39,017|49,235| |Auditors|remuneration|||9,600|9,420| |Other professional||fees||1,004|| |Insurances||||4,897|4,703| |Other costs||||1,163|1,902| |||||93,048|110,797| ## ||||2021|2020| |---|---|---|---|---| ||||f|f| |Trustees'|remuneration||37,000|36,250| |Trustees'|indemnity|insurance|4,897|4,703| |Trustees'|and clerk's|expenses|367|5,162| |Auditor's|remuneration||9,600|9,420| |Lega Ifees||||| |Administrator's
fees|||39,017|48,855| |Other Accounting fees|||1,004|380| |Othersupportcosts|||1,163|486| ||||93,048|105,256| ## |Trustees remuneration||| |---|---|---| ||2021|2020| ||E|E| |P D Innes|10,000|10,000| |K R Norman|6,000|6,250| |Dr D Lawrence|5,000|5,000| |D M Hill|5,000|5,000| |Dr TLBarsby|6,000|5,000| |Prof R Hails|5,000|5,000| ||37,000|36,250| ## |Consolidate
Tangible fixed assets - land &|Unrestricted|Endowment|Total funds| |---|---|---|---| |buildings|funds|funds|2021| ||f|6|f| |Cost at 1stApril 2020|13,002,039|2,960,500|15,962,539| |At 31stMarch 2021|13,002,039|2,960,500|15,962,539| |Depreciation
at 1stApril 2020|8,732,522|1,566,600|10,299,122| |Charge for the year|263,523|74,600|338,123| |At 31stMarch 2021|8,996,045|1,641,200|10,637,245| |Net book value at 31st March 2020|4,269,517|1,393,900|5,663,417| |Net book value at 31st March 2021|4,005,994|1,319,300|5,325,294| ## ## |Aggregated
Tangible fixed assets - land &|Unrestricted|Endowment|Total funds| |---|---|---|---| |buildings|funds|funds|2021| ||E|E|E| |Cost at 1st April 2020|10,973,314|2,960,500|13,933,814| |At 31st March 2021|10,973,314|2,960,500|13,933,814| |Depreciation at 1st April 2020|6,703,797|1,566,600|8,270,397| |Charge for the year|263,523|74,600|338,123| |At 31st March 2021|6,967,320|1,641,200|8,608,520| |Net book value at 31stMarch 2020|4,269,517|1,393,900|5,663,417| |Net book value at 31stMarch 2021|4,005,994|1,319,300|5,325,294| ## |||||||2021|2020|| |---|---|---|---|---|---|---|---|---| |||||||Charity S||Charity S| ||||||Group|Trust|Group|Trust| ||||||f|f|f|f| |Listed investments||and||Cash|35,322,605|35,322,605|26,297,507|26,297,507| |Investment|in subsidiary|||undertaking||1,083,001||1,083,001| |Provision||||||(250,001)||(250,001)| |Investment|in AIP|LLP|||833,000||833,000|| ||||||36,155,605|36,155,605|27,130,507|27,130,507| |Listed investments||and||cash||Cash|Portfolio|Total 2021| |Market value brought|||forward|||1,969,073|24,328,434|26,297,507| |Capital introduced||||||3,044,813||3,044,813| |Additions to investments||||||(7,592,149)|7,592,149|| |Disposal proceeds||||||3,233,951|(3,233,951)|| |Management|fees|||||(140,709)||(140,709)| |Gains on investments|||||||6,120,994|6,120,994| |||||||514,979|34,807,626|35,322,605| ||||||||2021|2020| |Investment|portfolio consists of:||||||f|f| |Equities|||||||26,430,547|17,116,953| |Fixed interest securities|||||||4,840,318|3,673,196| |Alternative|investments||||||3,536,761|3,538,285| |Cash|||||||514,979|1,969,073| |Total|||||||35,322,605|26,297,507| ## ## |. Analysis ofcurrent a|nd|nonwurren|t
assets|||||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||2021|||2020|| |||||||Charitya|||Charity8|| |||||Group|||Trust|Group||Trust| |Debtors under 1year:||||f|||f|f.||f| |prepayments
and accrued income||||86,121|||86,121|62,966||62,966| |Trade debtors||||||||26,684||26,684| |Sundry debtors - Newfound||Farm||||||||| |sale proceeds||||2,807,234||2,807,234||3,035,345|3,035,345|| |Cash at Bank||||4,962,426||4,962,426||4,336,655|4,336,655|| |||||7,855,781||7,855,781||7,461,650|7,461,650|| |Debtors over 1year.||||||||||| |Sundry debtors - Newfound||Farm||||||||| |sale proceeds||||||||2,358,077|2,358,077|| |undry debtors Newfound|Farm sale proceeds are|||discounted
at|a|rate of|6SSper annum|having regard to||rates| |freturn
on investments|(note 12).|||||||||| |. Analysis ofcurrent and long-term|||liabilities|||||||| |||||||2021|||2020|| |||||||Charity 8|||Charity &|| |Creditors under 1year:||||Group
f|||Trust
f|Group
f||Trust
f| |Trade creditors||||31,285|||31,285|24,027||24,027| |Sundry creditors —Newfound||Farm||||||||| |disposal costs||||161,655|||161,655|55,704||55,704| |Tax and social security||||2,927|||2,927|2,438||2,438| |Committed
grants||||1,034,325||1,034,325||190,812||190,812| |Other accruals and deferred||income||105,556|||105,556|118,401||118,401| |||||1,335,748||1,335,748||391,382||391,382| |Creditors over 1year:||||||||||| |Sundry creditors-
Newfound||Farm disposal costs||||||43,453||43,453| |Committed
grants||||2,814,092||2,814,092||1,350,178|1,350,178|| |Other accruals and deferred||income||2,814,092||2,814,092||1,393,631|1,393,631|| ## |rn
on invest|ments.||||| |---|---|---|---|---|---| |||||2021|2020| |||||f|f| |Deferred income b/f||||30,099|37,099| |Transferred|to income|||(30,099)|(30,099)| |Deferred
in|year (Earlham|Institute|advance rent invoiced)|26,029|23,099| |Deferred income c/f||||26,029|30,099| |||||2021|2020| |Committed|grants:|||f|| |8/f||||1,540,990|388,745| |Committed|grants b/f paid|in year||(157,236)|(114,266)| |Commitments
made in year due after 31stMarch 2021||||2464 663|1266511| |Committed|grants c/f|||3,848,417|1,540,990| ## ## ## |roup and Charity analysis ofnet|assets||| |---|---|---|---| ||Unrestricted|Endowment|| |Year ended 31March 2021|fund|Fund|Total| ||E||| |Tangible fixed assets|4,005,994|1,319,300|5,325,294| |Investments|5,198,505|30,957,100|36,155,605| |Debtors due in 1year|86,121|2,807,224|2,893,355| |Debtors due after 1year|||| |Cash at bank|1,117,369|3,795,057|4,912,426| |Creditors due in 1year|(1,111,553)|(224,195)|(1,335,748)| |Creditors due after 1year|(2,814,092)||(2,814,092)| ||6,482,344|38,654,496|45,136,840| ||||Unrestricted|Unrestricted|Endowment|Endowment||| |---|---|---|---|---|---|---|---|---| ||Year ended|31March 2020||fund||Fund|Total|| |||||E|||E|| ||Tangible fixed assets|||4,269,517||1,393,900|5,663,417|| ||Investments|||4,269,658|22,860,849||27,130,507|| ||Debtors due|in 1year||||2,358,077|2,358,077|| ||Debtors due|after 1year||89,650||3,035,345|3,124,995|| ||Cash at bank|||892,402||3,444,253|4,336,655|| ||Creditors due in 1year|||(272,349)||(119,033)|(391,382)|| ||Creditors due after 1year|||(1,350,178)||(43,453)|(1,393,631)|| |||||7,898,700|32,929,938||40,828,638|| |16.|Group and Charity aggregated||analysis|ofcharitablefunds||||| ||||||||Discounted|| |||Bal 8/fwd|Income|Expenditure||Gains/losses|Cashflows|Fund C/fwd| ||||E||E|E|E|E| |Endowment||||||||| |funds|32,929,938||79p081|(226,222)||5,061,686|810,013|38,654,496| |Unrestricted||||||||| |funds||7,898,700|996,460|(3,360,184)||947,368||6,482,344| |Total|40,828,638||1,075,541|(3,586,406)||6,009,054|810,013|45,136,840| ## |||||2021|2020| |---|---|---|---|---|---| |||||f|5| |Net movement
in funds||||4,308,202|(3,681,197)| |Add back|losses / deduct gains on||investments|(6,120,994)|2,452,795| |Investment|income|||(872,858)|(703,682)| |Add back|depreciation
charge|||338,123|338,123| |Deduct Investment||Management|Fees paid from Broker Capital||| |Accounts||||140,709|86,736| |Decrease|(increase)|in debtors||2,589,717|3,241,287| |Increase (decrease)||in creditors||2,414,827|882,721| |Net cash used in operating
activities||||2,797,726|2,616,783| ## ## ## ## ## ##