2021-12-31-accounts - The Sackler Trust

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			2021	2020
		Notes
INCOMING RESOURCES
Donations received
Investment and similar income		3	597,112	512,709
TOTAL INCOMING RESOURCES			597,112	512,709
RESOURCES EXPENDED
Charitable activities		4	184,587	872,820
Costs ofgenerating funds TOTAL RESOURCES KXPKNI?ED		5	277,120 266,104 46,0», 38 9 4
Net gains on investments		6	2,398,201	2,210,242
NKT INCOME			2,533,606	1,584,027
RECONCILIATION Oli FUNDS
Total funds bmught forward			49.380,347	47,809 3 0
TOTAL FUNDS CARRIED FORWARD			51,922,953	49389,347
All funds received are unrestricted.
There were no other recognised	gains or losses.

					2021	2020
Cash flows from operating	activities:
Net cash used in operating activities					~3,533, 58	~4060,789
Cash flows from investing activities".
Purchase ofiuvestments					(294,253)	(316,857)
Interest and dividend income	received				568,349	605,812
Net cash flows provided by	investing	activities			274,096	288,955
Change in cash in the reporting period					(3,239,362)	(3,771,834)
Cash at the beginning ofthe reporting			period		13,389,169	17,254,106
Change in cash due to exchange rate		movements			28,763	(93,103)
Cash at the end ofthe reporting period					10,178,570	13,389,169
ReconciTiation ofnet income	to net cash		flow used in o eratin	activities
					2021	2020
Net income for the reporting	perind as		per the statement of
financial activities					2,533,606	1,584,027
Adjustments for:
Gains on investments					(2,398,201)	(2,210,242)
Interest and similar income					(597,112)	(512,709)
Decrease in creditors					(3,051,751)	(2,921,865)
Net cash used in operating activities					~35 3 458	J44t60,789

NVESTM	ENT AND SIMII.AR INCOME
		2021	2020
Investment	income	568,349	587,245
UK bank	deposit interest		2,067
Overseas Exchange	bank deposit interest differences	28,763	16,500 ~93. 03
		597,112	512,709


HARITABLE ACTIVITIES	2021	2020
Grants made —Note 11	1,317,000	3,565,220
Reduction in previous commitments	(1,150,000)	(2,920,315)
Net discount charged / (credited) - Note 12	11,239	221,288
Governance costs —Audit fee	6,090	6,089
—Bank charges	258	538
		6,627
	184,587	872,820

		Deposits	Investments at fair value	Total
Cost at 1 January 2020		3,156,890	43,075,700	46,232,590
Additions		24,161,637	24,724,311	48,885,948
Disposals		(24,724,311)	(23,844,780)	(48,569,091)
Realised Gains / (losses)		(32,524)	647,121	614,597
Cost at 31December 2020		2,561,692	44,602,352	47,164,044
Unrealised gains on investments			3,437,423	3,437,423
Financial assets at fau value through	profit and loss at 31December 2020	2,561,692	48,039,775	50,601,467
Cost at 1 January 2021		2,561,692	44,602,352	47,164,044
Additions		17,447,872	18,298,575	35,746,447
Disposals		(18,298,575)	(17,153,619)	(35,452,194)
Realised Gains / (lasses)		7,887	551,756	559,643
Cost at 31 December 2021		1,718,876	46,299,064	48,017,940
Unrealised gains an investments			S,275,981	5,275,981
Financial assets at fair value through	profit and loss at 31 December 2021	1,718,876	51,575,045	53,293,921

recurring	basis asof31December	2021.No fin	anciaL assets were tr	anciaL assets were tr	ansferred between lev	ansferred between lev	els during	202	1 or 2020:
			Level I		Level 2		Level 3		Total
Financial	assets atfair value through
profit or loss
Investments	at fair value		1,718,876		51,575,045				53,293,921
The following fair value hierarchy		table presents	information	about the Trust's		investments	measured	at fair value on
recurring	basis as of31December	2020:
			Level I		Level 2		Level	3	Total
							6
Financial	assets at fair value through
profit or loss
Invmtments	at fair value		2,561,692		48,039,775				50,601,467

				2021	2020
Institutional grants made / (reduced):
CW+				250,000
The Amber Foundation				150,000	200,000
JW3 Trust				100,000
Priscilla Bacon Hospice				100,000
Spitalfields Crypt Trust				90,000
Galapagos Conservation	Trust			75,000	150,000
Britten Pears Arts				70,000
Berkshire Youth Trust				50,000
The Watermill Theatre					500,000
Oxford Philharmonic Orchestm		Trust			280,000
Edmonton Academy Trust					250,000
Kings College London					250,000
StMarylebone Parish Church					2508000
National Museum ofAnthropology,			Mexico —IJSD250,000		187,100
Genesis Trust					150,000
Veterans Aid Miscellaneous Donations	under	f50,000(2021:90grants, 2020:45			150,000
grants under 6150,000)				432,000	1,198,120
New commitments				1,317,000	3,565,220
Reduction in previous commitments				(1,150,000)	(2,920,315)
Increase / (decrease) in commitments				167,000	644,905
				2021	2020
					I
Reconciliation ofgrants	payable:
Commitments at IJanuary				14,543,399	17,727,375
Increase in commitments				167,000	644,905
Grants patd				@33194,332	~3,52R88
Commitments at 31December				11,516067	14543399
Payable within one year				4,421,067	5,906,332
Payable beyond one year				7,095,000	8.637067
				11,516,1167	14,543 399

				2021	2020
Commitments	payable beyond onc year at I January			8,637,067	9,984,261
Discount to commitments at I January				(35,687)	(256,975)
Carrying value	ofdiscounted commitments at I	January		8,601,380	9,727,286
Coriunitments	increased during the year			145,000	265,138
Finance charge	attributed to:
Discount decreased I(increased) on commitments at Discount applied to new commitments made during			1 January the year	11,518 ~279	223,221 ~7,933
				11,239	221,288
Commitments	becommg due within one year			(1,687,067)	(1,612,332)
Commitments	at 31December at canying values			723 939	8,601,380