2020-12-31-accounts - The Serth And Gates Charity

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			Page
Report of	the Trustees		1to3
Report of	the Independent Auditors		4to 5
Statement	of Financial	Activities
Statement	of Financial	Position
Notes to the Financial		Statements	gto14
Detailed Statement of		Financial Activities	15

Principal address
c/o Wedlake Bell LLP
71Queen Victoria Street
London
EC4V 4AY
Trustees
J A H West- Resigned	13September 2021
R McLeod
J A Cutts —Appointed	13September 2021
Auditors
Villars Hayward LLP
Chartered Accountants,
Chartered Tax Advisers	and Registered	Auditors
Boston House
Henley-on-Thames
RG9 1DY
Lawyers
Wedlake Bell LLP
71Queen Victoria Street
London
EC4V 4AY
Bankers
National Westminster	Bank Pic
PO Box No. 159
322 High Holborn
London
WC1V 7PS
Investment Managers
Brewin Dolphin
12Smithfield Street
London
EC1A9BD

						31.12.20	31.12.19
						Unrestricted	Total
						funds	funds
					Note	f	E
INCOME AND ENDOWMENTS				FROM:
Investment	income					302,072	370,935
Total						302,072	370,935
EXPENDITURE ON:
Raising funds
Investment	management		costs			53,207	55,614
						53,207	55,614
Charitable	activities
Donations						205,491	281,008
Other						36,745	23,550
Total						295,443	360,172
Net gains on investments						10,468	1,444,159
Impairment	of investments		to	fair value		1,261,886	(1,261,886)
NET INCOME						1,278,983	193,036
RECONCILIATION OF		FUNDS
Total funds	brought	forward				9,951,968	9,758,932
TOTAL FUNDS CARRIED FORWARD						11,230,951	9,951,968

	The Serth and Gates Charit	The Serth and Gates Charit
	Balance Sheet
	as at
	31December	2020
			31.12.20	31.12.19
		Note	f
FIXEDASSETS
Investments			10738611	9,481,942
CURRENT ASSETS
Cash at bank			327,585	715,763
Other Debtors			331,983
			659,568	715,763
CREDITORS
Amounts falling due within one year			(167,228)	(245,737)
NET CURRENT ASSETS			492,340	470,026
TOTAL ASSETS LESSCURRENT LIABILITIES			11,230,951	9,951,968
NET ASSETS			11,230,951	9,951,968
FUNDS
Unrestricted funds:
Income Fund			434,148	355,940
Designated Capital Fund			10,796,803	9,596,028
TOTAL FUNDS			11,230,951	9,951,968

INVESTMENT INCOME	INVESTMENT INCOME		31.12.20	31.12.19
			Unrestricted	Total
			funds	funds
			f	f
Cash investments			597	1,216
Investment income			301,475	369,719
			302,072	370,935
INVESTMENT MANAGEMENT		COSTS
			31.12.20	31,12.19
			Unrestricted	Total
			funds	funds
Portfolio management			53,207	55,614
CHARITABLE ACTIVITIES
Donations			31.12.20	31.12.19
			f
Funding committed	not yet paid brought forward at 1January 2020
Animal Health Trust			(40,000)	(30,000)
The Horse Trust			(35,992)	(77,975)
University of Bristol			(27,000)	(7,000)
University ofSurrey			(18,000)
Greatwood			(15,000)	(15,000)
SPANA			(15,000)	(15,000)
The Brooke			(15,000)	(15,000)
Blue Cross			(12,000)	(12,000)
Dogs Trust			(12,000)	(12,000)
Hearing Dogs for Deaf People			(12,000)	(12,000)
PDSA			(12,000)	(12,000)
Dogs for Good			(10,000)	(10,000)
Cherington PCC			(1,500)	(1,500)
Friends of Mann Cottage Surgery			(1,500)	(1,500)
Longborough Festival Opera			(1,500)	(1,750)
Shipston Home Nursing			(1,250)	(1,250)
Guiting Festival			(750)	(750)
The Carice Singers			(500)	(250)
University of Glasgow				(30,000)
Total Funding committed not		yet paid at1January 2020	(230,992)	(254,975)
Note continued on	page 10

CHARITABLE ACTIVITIES	(continued)	(continued)	(continued)	(continued)
Donations						31.12.20	31.12.19
							E
Donations paid during the			period
University of Bristol						52,000	34,000
University ofSurrey						50,500	43,000
The Horse Trust						40,992	35,992
Animal Health Trust						40,000	40,000
The Brooke Hospital for	Animals					15,000	15,000
Greatwood						15,000	15,000
Society of Protection of	Animals			Abroad	(SPANA)	15,000	15,000
Blue Cross						12,000	12,000
The People's Dispensary	for Sick			Animals	(PDSA)	12,000	12,000
Hearing Dogs for the Deaf						12,000	12,000
Dogs Trust						12,000	12,000
Dogs For Good (Previously			Dogs	for the	Disabled)	10,000	10,000
Longborough Festival Opera						1,500	1,750
Friends of Mann Cottage		Surgery				1,500	1,500
Cherington PCC						1,500	1,500
Shipston Home Nursing						1,250	1,250
6uiting Festival						750	750
The Carice Singers						500	250
University of Glasgow							30,000
Donkey Sanctuary							5,000
Henley Music School							2,500
Ufton Court Educational	Trust						1,500
The Chiltern Centre							1,500
Rivertime Boat Trust							1,500
Total donations paid during the period						293,492	304,992
Funding committed not yet paid carried forward at31December 2020
The Horse Trust						25,992	35,992
SPANA						15,000	15,000
6reatwood						15,000	15,000
The Brooke						15,000	15,000
Blue Cross						12,000	12,000
Dogs Trust						12,000	12,000
PDSA						12,000	12,000
Hearing Dogs for Deaf People						12,000	12,000
Dogs for Good						10,000	10,000
Ufton Court Educational		Trust				3,000
Henley Music School						2,000
Longborough Festival Opera						1,500	1,500
Friends of Mann Cottage			Surgery			1,500	1,500
Cherington PCC						1,500	1,500
Shipston Home Nursing						1,250	1,250
The Chiltern Centre						1,000
The Rivertime BoatTrust						1,000
Guiting Festival						750	750
The Carice Singers						500	500
Animal Health Trust							40,000
University of Bristol							27,000
University ofSurrey							18,000
Total Funding committed			not yet paid			142,992	230,992
Total Donations						205,491	281,008

Professional	fees and charges		31.12.20	31.12.19
Lega I fees			23,071	13,465
Independent	auditor's fee —audit		6,500	4,473
Independent	auditor's fee - other services		5,500	5,530
Under /(over)	accrued fees - audit		1,595
Other —Bank	charges		79	82
			36,745	23,550
Split as follows: —Income Fund			18,373	11,775
	—Designated	Capital Fund	18,372	11,775
			36,745	23,550

FIXED ASSET INVESTMENTS
	Listed
	investments
	E
MARKET VALUE
At 1January 2020	9,481,942
Additions	1,231,961
Disposals	(1,247,646)
Revaluations	10,468
Reversal of prior year Impairment	1,261,886
At 31December 2020	10,738,611
NET BOOK VALUE
At 31December 2020	10,738,611
At 31December 2019	9,481,942

						31.12.20	31.12.19
							E
Funding committed not yet paid (see analysis				below)		142,992	230,992
Creditors and accruals						24,236	14,745
						167,228	245,737
Analysis offunding committed			not yet paid
The Horse Trust						25,992	35,992
SPANA						15,000	15,000
Greatwood						15,000	15,000
The Brooke						15,000	15,000
Blue Cross						12,000	12,000
Dogs Trust						12,000	12,000
PDSA						12,000	12,000
Hearing Dogs for Deaf People						12,000	12,000
Dogs for Good						10,000	10,000
Ufton Court Educational		Trust				3,000
Henley Music School						2,000
Longborough Festival	Opera					1,500	1,500
Friends of Mann Cottage		Surgery				1,500	1,500
Cherington PCC						1,500	1,500
Shipston Home Nursing						1,250	1,250
The Rivertime BoatTrust						1,000
The Chiltern Centre						1,000
Guiting Festival						750	750
The Carice Singers						500	500
Animal Health Trust							40,000
University of Bristol							27,000
University ofSurrey							18,000
						142,992	230,992
MOVEMENT IN FUNDS
						Designated
					Income	Capital
					fund	fund	Total
					E	E
Total funds brought	forward		at 1.1.20		355,940	9,596,028	9,951,968
Incoming resources					302,072		302,072
Resources expended
—Investment management			costs			(53,206)	(53,206)
—Donations					(205,491)		(205,491)
—Other					(18,373)	(18,372)	(36,745)
Gains and Losses on	investments					1,272,353	1,272,353
Total funds carried forward at 31.12.20					434,148	10,796,803	11,230,951
Movement in funds	in period				78,208	1,200,775	1,278,983

							31.12.20	31.12.19
							E	f
Financial	assets at fair value through		Statement of Financial Activities
Investments							10,738,611	9,481,942
Financial	assets that are debt instruments			measured	at amortised	cost
Cash at bank							327,585	715,763
Financial	liabilities measured	at amortised		cost
Creditors	&1year						(167,228)	(246,737)

The following	The following	bursaries	bursaries	of Bristol, Glasgow and Surrey respectively.
University	of	Bristol
A~cademic	ar
2012/13				46,875
2013/14				45,465
2014/15				55,000
2015/16				31,000
2016/17				60,000
2017/18				64,000
2018/19				54,000
2019/20				7,000
2020/21				27,000
				390,340
University	ofGlasgow
~Academic	ear			f
2012/13				40,000
2013/14				50,000
2014/15				63,000
2015/16				61,000
2016/17				47,000
				261,000
University	ofSurrey
A~cademic		ar
2018/19				7,000
2019/20				7,000
2020/21				18,000
				32,000
Total bursaries			awarded	683,340

			--Unrestricted	funds--	funds--
			Income Fund	Designated Capital Fund		Total funds	Prior period total funds
				f			f
INCOME AND ENDOWMENTS		FROM
Cash investments			597			597	1,216
Investment income			292,085			292,085	369,719
Sundry income			9,390			9,390
Total incoming resources			302,072			302,072	370,935
EXPENDITURE ON
Investment management	costs
Portfolio management					53,207	53,207	55,614
Charitable activities
Donations			205,491			205,491	281,008
Support costs
Finance
Bank charges			40			79	82
Governance costs
Accountancy and legal	fees		18,333		18,333	36,666	23,468
Total resources expended			223,864		71,579	295,443	360,172
Net income/(expenditure)	before gains and losses		78,208	(71,579)		6,629	10,763
Net gains on investments					10,468	10,468	182,273
Impairment ofassets to fair value				1,261,886		1,261,886
Net income/(expenditure)			78,208	1,200,775		1,278,983	193,036