## THE AURUM CHARITABLE TRUST
## **Trustees’ Report**
## **and Financial Statements**
For the year ended 31 May 2021
**Registered Charity Number 1121227**
## **THE AURUM CHARITABLE TRUST**
## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **INDEX**
||**Page**|
|---|---|
|Reference and administrative details|1|
|Trustees’ report|2|
|Independent Auditor’sreport|5|
|Statement of financial activities|7|
|Balance sheet|8|
|Statement of cash flows|9|
|Accounting policies|10|
|Notes to the financial statements|12|
**THE AURUM CHARITABLE TRUST** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Trustees**
Mrs E Jack Mr R Jack Mr A Mitchell
## **Principal office**
Springfield Rookery Hill Ashtead Surrey KT21 1HY
## **Charity registered number**
1121227
## **Independent Auditor**
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
## **Solicitors**
TLT Solicitors One Redcliffe Street Bristol BS1 6TP
## **Bankers**
Coutts & Co 440 The Strand London WC2R 0QS
**Page 1**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **THE AURUM CHARITABLE TRUST**
## **TRUSTEES’ REPORT**
The Trustees present their report and the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
## **Structure, governance and management**
The Aurum Charitable Trust is a registered charity constituted under a Declaration of Trust dated 20 September 2007 and is registered with the Charity Commission (no. 1121227). The trust was established with an initial gift from Roderick and Elizabeth Jack who have continued to make gifts to the charity.
It is controlled by a board of trustees who manage all aspects of the Trust’s affairs and in whom vests the power to appoint new trustees. The trustees meet at a minimum twice a year.
Any new trustee will receive a comprehensive induction to the charity and will receive materials to allow them to understand the charitable purposes, the financial position and current issues of the charity.
The day-to-day management and operations of the charity have been vested in one of the trustees who has experience of grant-making. There are no personnel employed by the charity.
The only related parties are the trustees. Details of the related party transactions are given in the notes to the accounts.
The trustees have assessed the major risks to which the charity is exposed, including those relating to its investments and finances, and they have established effective systems to mitigate those risks.
## **Objectives and activities**
The charity’s objects are:
To further such objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.
This may include support to registered charities and other non-profit making bodies.
In considering how best to achieve these objectives the trustees have had regard to the guidance on public benefit issued by the Charity Commission and, in their opinion, the charity’s activities are wholly for the benefit of the public.
In furtherance of its objectives, the charity makes grants to a number of charitable organisations and bodies. In the opinion of the trustees, by making grants only to charitable organisations which are themselves for the benefit of the public, the charity fulfils its obligation to deliver public benefit in furtherance of its objectives.
## **Grant-making policy**
With very few exceptions, the trust’s geographic focus is the United Kingdom. The trustees have implemented a strategic approach to their grant-making, focusing on the criminal justice system, refugees and asylum seekers, the environment and the arts.
The trust takes a proactive approach to identifying organisations for funding and is unable to consider unsolicited applications. Before considering grants, the trustees carefully research and identify suitable candidate charities. Prior to any formal decision, the trustees will visit the charity and meet with management. Grants are usually made on an unrestricted basis and the majority are for three years. Grants agreed for three successive years are only payable in years two and three subject to the satisfactory completion of the first and second year’s conditions, respectively. The charity may provide repeat funding to existing grantees at the discretion of the trustees subject to on-going monitoring and review.
The trustees retain two advisors on an annual basis to assist with the identification of potential grant recipients, due diligence and on-going monitoring.
**Page 2**
**THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **TRUSTEES’ REPORT**
## **Fundraising standards information**
The charity does not actively raise funds from the general public, with its activities supported by income generated from its investments and further donations by the settlor trustees.
## **Achievements and performance**
During the year under review the charity made 31 grant payments (2020: 25) to charitable causes totalling £1,033,000 (2020: £852,000) as set out in note 12 to the financial statements. It had outstanding commitments at the year-end for future payments of £530,000 (2020: £680,000).
Over the period, the charity awarded 19 new grants (2020: 13) totalling £883,000 (2020: £638,000).
The trustees are satisfied that the nature and scope of grants made fully reflect the purposes of the charity and that the objectives for which it was created continue to be achieved
## **Financial review**
Expenditure totalled £940,247 (2020: £652,460) including £883,000 (2020: £638,000) of grants to beneficiary charities. Total incoming resources for the year ended 31 May 2021 were £1,477,651 inclusive of a transfer of £1,481,042 from the endowment fund to unrestricted funds in order to fund the charity’s expenditure. In addition the charity was in receipt of donations in the form of investment holdings with a transfer value of £10,388,390.
The trustees’ policy on reserves is to seek to distribute or commit the income arising in each financial year. Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time.
At 31 May 2021 the charity’s free reserves were £nil (2020: a deficit of £537,404). The nil balance and deficit at the balance sheet dates is the result of the timing of expenditure recognition and the transfer of funds from endowment to unrestricted funds.
## **Plans for future periods**
The charity will continue to provide grants to charitable organisations in furtherance of its objectives as and when appropriate beneficiaries are identified.
## **Statement of trustees’ responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
**Page 3**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **TRUSTEES’ REPORT**
## **Appointment of independent auditor**
During the year under review the charity exceeded the audit threshold and appointed Blue Spire Limited as auditors to the charity. Blue Spire Limited have expressed their willingness to be reappointed as auditors should the charity remain over the audit threshold.
Approved by the trustees and signed on their behalf.
Eligobhe Jock 28 January 2022
Trustee Date
**Page 4**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **THE AURUM CHARITABLE TRUST**
## **INDEPENDENT AUDITOR’S REPORT**
## **Independent Auditor’s Report to the Trustees of The Aurum Charitable Trust**
## **Opinion**
We have audited the financial statements of The Aurum Charitable Trust (the ‘charity’) for the year ended 31 May 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 May 2021, and of its incoming resources and application of resources, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
- • sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
**Page 5**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **THE AURUM CHARITABLE TRUST**
## **INDEPENDENT AUDITOR’S REPORT**
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Blue Sure hunted Blue Spire Limited, Statutory Auditor 28 January 2022 _Date_
Cawley Priory South Pallant Chichester West Sussex PO19 1SY
_Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._
**Page 6**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Investments
**2**
**Total**
**EXPENDITURE ON:**
Charitable activities
**3**
**Total**
Net gains/(losses) on investments
**7**
**Net income/(expenditure)**
**Transfers between funds**
**11**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**11**
**Total funds carried forward**
**11**|**Unrestricted**
**Funds**
**£**
-
(3,391)
(3,391)
940,247
940,247
-
(943,638)
1,481,042
537,404
(537,404)
-|**Endowment**
**Funds**
**£**
10,638,390
-
10,638,390
-
-
(700,250)
9,938,140
(1,481,042)
8,457,098
1,339,814
9,796,912|**31 May 2021**
**Total**
**Funds**
**£**
10,638,390
(3,391)
10,634,999
940,247
940,247
(700,250)
8,994,502
-
8,994,502
802,410
9,796,912|**31 May 2020**
**Total**
**Funds**
**£**
1,000,000
5,668|
|---|---|---|---|---|
|||||1,005,668|
|||||652,460|
|||||652,460|
|||||-|
|||||353,208
-|
|||||353,208
449,202|
|||||802,410|
None of the charity's activities were acquired or discontinued during the above two financial years.
The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
**Page 7**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **BALANCE SHEET AS AT 31 MAY 2021**
|||**31 May 2021**|**31 May 2021**|**31 May 2020**|**31 May 2020**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**FIXED ASSETS**||||||
|Investments|**7**||4,922,129||-|
|**CURRENT ASSETS**||||||
|Cash at hand and in bank||5,406,583||1,487,469||
|**Total current assets**||5,406,583||1,487,469||
|**CURRENT LIABILITIES**||||||
|Creditors: amounts falling due within one year|**8**|341,800||620,059||
|**Net current assets/(liabilities)**|||5,064,783||867,410|
|**Total assets less current liabilities**|||9,986,912||867,410|
|Creditors: amounts falling due after more than one year|**9**||(190,000)||(65,000)|
|**Total assets/(liabilities)**|||9,796,912||1,669,820|
|**THE FUNDS OF THE CHARITY**||||||
|**Expendable endowment funds**|**11**||9,796,912||1,339,814|
|**Unrestricted funds**|**11**||-||(537,404)|
|**Total charity funds**|||9,796,912||802,410|
The notes on pages 12 to 16 form part of the financial statements.
28 January 2022 The financial statements on pages 7 to 16 we approved and authorised for issue by the trustees on ……………………………………. and signed on their behalf by:
…………………………………………
Trustee
**Page 8**
## **THE AURUM CHARITABLE TRUST**
## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **STATEMENT OF CASH FLOWS**
|**Note**
**Net cash flow from operating activities (see below)**
**Cash flow from investing activities**
Investment income
Proceeds on sale of investments
Purchase of investments
**Net cash flow from investing activities**
**Net increase/(decrease) in cash and cash equivalents**
**Cash and cash equivalents at 1 June 2020**
**Cash and cash equivalents at 31 May 2021**
**Cash and cash equivalents consist of:**
Cash at bank and in hand
**Cash and cash equivalents at 31 May 2021**
**Reconciliation of net income to net cash flow from operating activities**
Net income
Adjusted for:
Investment income
(Gains)/Losses on investments
Increase/(decrease) in creditors|**£**
**£**
9,544,884
(3,391)
4,766,011
(10,388,390)
(5,625,770)
3,919,114
1,487,469
5,406,583
5,406,583
5,406,583
**£**
**£**
8,994,502
3,391
700,250
(153,259)
550,382
9,544,884
**31 May 2021**
**31 May 2021**|**£**
**£**
135,226
5,668
-
-
5,668
140,894
1,346,575
1,487,469
1,487,469
1,487,469
**£**
**£**
353,208
(5,668)
-
(212,314)
(217,982)
135,226
**31 May 2020**
**31 May 2020**|**£**
**£**
135,226
5,668
-
-
5,668
140,894
1,346,575
1,487,469
1,487,469
1,487,469
**£**
**£**
353,208
(5,668)
-
(212,314)
(217,982)
135,226
**31 May 2020**
**31 May 2020**|
|---|---|---|---|
||||135,226|
**Page 9**
## **THE AURUM CHARITABLE TRUST**
## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **ACCOUNTING POLICIES**
## **General information, scope and basis of the financial statements**
The Aurum Charitable Trust is an unincorporated association constituted under a deed of settlement. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
## **VAT**
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
## **Taxation**
The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.
## **Debtors receivable and creditors payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Cash and cash equivalents**
Cash and cash equivalents includes cash at bank and in hand and cash balances held within the interest-bearing cash deposits.
**Page 10**
**THE AURUM CHARITABLE TRUST** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **ACCOUNTING POLICIES**
## **Fund accounting**
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
**Page 11**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **THE AURUM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Donations and legacies**
|Donations
Gift aid received
**2. Investment income**
From investments & cash balances
**3. Charitable activities**
Grants to institutions (see note 12)
Management fees
Bank charges
Foreign exchange losses
Consultancy costs
Governance costs (see note 4)|**Unrestricted**
**Funds**
**£**
-
-
-
**Unrestricted**
**Funds**
**£**
(3,391)
(3,391)
**Unrestricted**
**Funds**
**£**
883,000
(1,187)
30
41,604
15,000
1,800
940,247|**Endowment**
**Funds**
**£**
10,388,390
250,000
10,638,390
**Endowment**
**Funds**
**£**
-
-
**Endowment**
**Funds**
**£**
-
-
-
-
-
-
-|**31 May 2021**
**Total**
**Funds**
**£**
10,388,390
250,000
10,638,390
**31 May 2021**
**Total**
**Funds**
**£**
(3,391)
(3,391)
**31 May 2021**
**Total**
**Funds**
**£**
883,000
(1,187)
30
41,604
15,000
1,800
940,247|**Unrestricted**
**Funds**
**£**
-
-
-
**Unrestricted**
**Funds**
**£**
5,668
5,668
**Unrestricted**
**Funds**
**£**
638,000
12,660
-
-
-
1,800
652,460|**Endowment**
**Funds**
**£**
1,000,000
-
1,000,000
**Endowment**
**Funds**
**£**
-
-
**Endowment**
**Funds**
**£**
-
-
-
-
-
-
-|**31 May 2020**
**Total**
**Funds**
**£**
1,000,000
-|
|---|---|---|---|---|---|---|
|||||||1,000,000|
|||||||**31 May 2020**
**Total**
**Funds**
**£**
5,668|
|||||||5,668|
|||||||**31 May 2020**
**Total**
**Funds**
**£**
638,000
12,660
-
-
-
1,800|
|||||||652,460|
## **4. Governance Costs**
|Auditors' remuneration
**5. Independent auditors fees**
Auditors' remuneration - audit|**Unrestricted**
**Funds**
**£**
1,800
1,800
**Unrestricted**
**Funds**
**£**
1,800|**Endowment**
**Funds**
**£**
-
-
**Endowment**
**Funds**
**£**
-|**31 May 2021**
**Total**
**Funds**
**£**
1,800
1,800
**31 May 2021**
**Total**
**Funds**
**£**
1,800|**Unrestricted**
**Funds**
**£**
1,800
1,800
**Unrestricted**
**Funds**
**£**
1,800|**Endowment**
**Funds**
**£**
-
-
**Endowment**
**Funds**
**£**
-|**31 May 2020**
**Total**
**Funds**
**£**
1,800|
|---|---|---|---|---|---|---|
|||||||1,800|
|||||||**31 May 2020**
**Total**
**Funds**
**£**
1,800|
**Page 12**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **NOTES TO THE FINANCIAL STATEMENTS**
## **6. Related party transactions**
Fees payable to Coutts & Co, which was a trustee of the charity until 28 May 2020, are included under raising funds and governance costs and are authorised under section 6 of the trust deed. At the balance sheet date £nil (2020: £3,259) is accrued in respect of these charges.
The charity has no employees, all administration being carried out by the trustees.
Other than the fees noted above, no remuneration was paid nor expenses reimbursed to trustees in the year under review.
## **7. Fixed asset investments - Listed**
|Additions
Disposals at proceeds
Change in market value
Gains/(losses) on investments
**8. Creditors: amounts falling due within one year**
Accruals - Independent auditors remuneration
Accruals - management fees
Accruals - grant creditors (see note 12)|**31 May 2021**
**£**
10,388,390
(4,766,011)
(700,250)
4,922,129
(700,250)
(700,250)
**31 May 2021**
**Total**
**Funds**
**£**
1,800
-
340,000
341,800|**31 May 2020**
**£**
-
-
-|
|---|---|---|
|||-|
|||-|
|||-|
|||**31 May 2020**
**Total**
**Funds**
**£**
1,800
3,259
615,000|
|||620,059|
## **9. Creditors: amounts falling after more than one year**
|Accruals - grant creditors (see note 12)|**31 May 2021**
**Total**
**Funds**
**£**
190,000
190,000|**31 May 2020**
**Total**
**Funds**
**£**
65,000|
|---|---|---|
|||65,000|
## **10. Analysis of net assets between funds**
|Current assets
Current liabilities
Non current liabilities|**Unrestricted**
**Funds**
**£**
(4,390,329)
(341,800)
(190,000)
(4,922,129)|**Endowment**
**Funds**
**£**
9,796,912
-
-
9,796,912|**31 May 2021**
**Total**
**Funds**
**£**
5,406,583
(341,800)
(190,000)
4,874,783|**Unrestricted**
**Funds**
**£**
144,396
(616,800)
(65,000)
(537,404)|**Endowment**
**Funds**
**£**
1,343,073
(3,259)
-
1,339,814|**31 May 2020**
**Total**
**Funds**
**£**
1,487,469
(620,059)
(65,000)|
|---|---|---|---|---|---|---|
|||||||802,410|
**Page 13**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **THE AURUM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **11. Net movement in funds**
|**11. Net movement in funds**|||||||
|---|---|---|---|---|---|---|
|Endowment funds
Unrestricted funds
Endowment funds
Unrestricted funds|**Total funds**
**brought**
**forward**
**£**
1,339,814
(537,404)
802,410
**Total funds**
**brought**
**forward**
**£**
1,343,073
(893,871)
449,202||**Year ended 31 May 2021**||||
|||**Total**
**incoming**
**resources**
**£**
10,638,390
(3,391)
10,634,999|**Total**
**Net gains/**
**Transfers**
**resources**
**(losses) on**
**between**
**expended**
**investments**
**funds**
**£**
**£**
**£**
-
(700,250)
(1,481,042)
(940,247)
-
1,481,042
(940,247)
(700,250)
-
**Year ended 31 May 2020**|||**Total funds**
**carried**
**forward**
**£**
9,796,912
-|
|||||||9,796,912|
||||||||
|||**Total**
**incoming**
**resources**
**£**
1,000,000
5,668
1,005,668|**Total**
**resources**
**expended**
**£**
-
(652,460)
(652,460)|**Net gains/**
**(losses) on**
**investments**
**£**
-
-
-|**Transfers**
**between**
**funds**
**£**
(1,003,259)
1,003,259
-|**Total funds**
**carried**
**forward**
**£**
1,339,814
(537,404)|
|||||||802,410|
**Page 14**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **NOTES TO THE FINANCIAL STATEMENTS**
|**12. Grant creditor reconciliation**
**Recipient**
_Criminal Justice_
Advance Advocacy and Non-Violence Community Education (Advance)
Just for Kids Law
LandWorks
Prisoners Education Trust
Redthread Youth Limited
Safe Ground
The Forward Trust
The Switchback Initiative
_Refugees and Asylum Seekers_
Action Foundation
Baobab Centre for Young Survivors in Exile
Devon & Cornwall Refugee Support (DCRS)
Greater Manchester Immigration Aid Unit (GMIAU)
Kent Refugee Action Network (KRAN)
Praxis
Refugee Education UK (_formerly_ Refugee Support Network)
Southwark Day Centre for Asylum Seekers
_Arts_
The National Theatre
The Royal Ballet School
Victoria & Albert Museum
_Environment_
Galapagos Conservation Trust
University of Cambridge, Cambridge Zero
_Other_
Dart Sailability Group
Families for Children
Independent Food Aid Network (IFAN)
IntoUniversity
SafeLives
Street Talk
The University of Cape Town Trust
Tommy's
Trinity College, Cambridge
Ubuntu Pathways
Amounts falling due within one year
Amounts falling due in more than one year|**BFwd**
**£**
-
50,000
-
-
-
40,000
80,000
-
170,000
-
-
20,000
100,000
-
50,000
-
-
170,000
-
50,000
-
50,000
-
-
-
-
-
-
100,000
100,000
-
35,000
40,000
15,000
-
290,000
680,000
615,000
65,000
680,000|**Awarded**
**£**
90,000
-
75,000
13,000
120,000
-
-
90,000
388,000
105,000
90,000
-
-
30,000
-
20,000
5,000
250,000
50,000
-
20,000
70,000
40,000
50,000
90,000
5,000
10,000
20,000
-
-
30,000
-
-
-
20,000
85,000
883,000|**Paid**
**£**
(30,000)
(50,000)
(25,000)
(13,000)
(40,000)
(40,000)
(40,000)
(30,000)
(268,000)
(35,000)
(30,000)
(20,000)
(50,000)
(30,000)
(50,000)
(20,000)
(5,000)
(240,000)
(50,000)
(25,000)
(20,000)
(95,000)
(20,000)
(50,000)
(70,000)
(5,000)
(10,000)
(20,000)
(100,000)
(100,000)
(15,000)
(35,000)
(40,000)
(15,000)
(20,000)
(360,000)
(1,033,000)|**CFwd**
**£**
60,000
-
50,000
-
80,000
-
40,000
60,000|
|---|---|---|---|---|
|||||290,000|
|||||70,000
60,000
-
50,000
-
-
-
-|
|||||180,000|
|||||-
25,000
-|
|||||25,000|
|||||20,000
-|
|||||20,000|
|||||-
-
-
-
-
15,000
-
-
-
-|
|||||15,000|
|||||530,000|
|||||340,000
190,000|
|||||530,000|
**Page 15**
## **THE AURUM CHARITABLE TRUST**
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021
## **NOTES TO THE FINANCIAL STATEMENTS**
## **13. Comparative statement of financial activities**
|**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Investments
**2**
**Total**
**EXPENDITURE ON:**
Charitable activities
**3**
**Total**
**Net income/(expenditure)**
**Transfers between funds**
**11**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**11**
**Total funds carried forward**
**11**|**Unrestricted**
**Funds**
**£**
-
5,668
5,668
652,460
652,460
(646,792)
1,003,259
356,467
(893,871)
(537,404)|**Endowment**
**Funds**
**£**
1,000,000
-
1,000,000
-
-
1,000,000
(1,003,259)
(3,259)
1,343,073
1,339,814|**31 May 2020**
**Total**
**Funds**
**£**
1,000,000
5,668|
|---|---|---|---|
||||1,005,668|
||||652,460|
||||652,460|
||||353,208
-|
||||353,208
449,202|
||||802,410|
**Page 16**