The Valiant Charitable Trust Trustees' Report & Financial Statements 6 April 2020 to 5 April 2021
Charity No. 1135810
52675.1
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 Page Reference and administrative details of the Charity, its Trustees and advisers Trustees, Report Audito¢s Report 6-8 Slalemenl of Financial Activities Balance Sheet 10 Slalemenl of Cash Flows Notes to the Financial Statements 12-18 Investment schedule (Not riled with the Charity Commission) 19-25
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY ITS TRUSTEES AND ADVISERS Founder Lady Valerie Diana Dixon The Board of Trustees Lady Valerie Diana Dixon Mr lan Roger Woolfe Mr Paul Thomas Clifford Brenham MBE DL Charlty reglstered number 1135810 Principal Office clo Collyer Bristow LLP 140 Brompton Road Knightsbridge London SW3 1HY Auditors Bourner Bullock Chartered Accountsnls Sovereign House 212- 224 Shaftesbury Avenue London WC2H 8HQ Bankers CAF Bank Ltd 25 Kings Hill Wesl Malling Kent ME194JQ Solicitors Collyer Brislow LLP 140 Brompton Road Knightsbridge London SW3 1HY Investment manager Fairslone Group Limited 1 The Bulrushes Woodstock Way Boldon Business Park Tyne & Wear NE35 9PF
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 TRUSTEES, REPORT The Trustees present their annual report together with the financial statements of the Valiant Charitable Trust (the Charity) for the year from 6 April 2020 to 5 April 2021. The Trustees confirm that the report and financial statements of the Charity comply with the Charities Act 2011, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo Charities preparing their accounts in accordance with the Financial ReF)Orting Stsndard applicable in the UK and Republic of Ireland on 16 July 2014. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements. Status and administration The Charity was established by a Declaration of Charitable Trust dated 23 March 2010 and is registered with the Charity Commission under charity number 1135810. The Charity's governing instrument is ils Trust Deed which allows for any activities covered by the Charity's objectives, with no specific restrictions. Charitable objectives for the public benefit The objectives of the Charity are to provide funds for general charitable purposes as the Trustees shall from time lo time think fil. The Trustees Confirm that they have complied with the duty in section 17 of the Charities Act 2011 and have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future aclivib'es and setting the grant making policy for the year. Grant making policies The Trust's gffint making policies are to make grants for general charitable purposes throughout England and Wales to individuals and organisalions. The Trustees meet annually to decide on the grants they will make in the coming year and will monitor how the funds are used once the grants are made. Governance The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed. The Trustees meet at least once a year to discuss and implement policy. Financial review Total income has decreased overall as a result of an decrease in dividend and interest income. The investment income was £70,49012020 - £94,828).
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 At 5 April 2021, the market value of investments was £5,152,30315 April 2020 £3,982,587). There was no donation of Offshore Bond investments received during the year1£236 in 20201. Income from Investments tolalling £70,35812020 - £92,937) was received. Most of the investments are in the form of accumulation units which do not generate income by way of cash. The Income is reinvested directly Into units. Review of activities and achievements During the year, there were grants made to 16 charities which are listed in note S of the accounts. The donations of £10,000 and over are as follows." £200,000 for the Keech Hospice- October 2020 pledge- something Special for the children £25,000 paid lo Herts Homeless for the Live Life Project., £20,000 paid lo Rotary Club Hitchin for the Mental Health Support aclivilies., £10,000 paid lo Celtic Harmony for Prehistory Centre Phase 3 internal fittings., £10,000 paid lo East and North Herts Hospitals for helping Little Heartbeats appeal., £10,000 paid lo MNDA West Sussex North - lo improve care and support for people with motor neurone disease., £10,000 paid lo Norman Hyde Scout Trust towards costs of attending World Jamborees and Leader training expenditure., £10,000 paid lo PHASE Hitchin- support school pupils after their return to school learning. Investment policy As at S April 2021, all cash funds were held on deposit with CAF Bank Limited, Scottish Widows Bank, Virgin Money and Collyer Bristow Client account. The Trustees, investment policy Is to aim for safety commensurate with immediate and planned spending requirements. The Offshore Bond investments is valued at £2,434,51012020 -£1,843,347>. Within the Offshore Bond there is no tax payable until such time as the funds are brought back into the UK. All the investments are managed by an independent investment manager in conformity with the charity policy and its constitution. The holdings comprise numerous collective funds which provide for a broad investment spread and consequently low risk in accordance with the Trustees, risk management policy. The investments are held within a wrapper so as to reduce costs of running the portfolio. Reserves and funding The Trustees are maintsining sufficient cash reserves to meet current and planned expenditure.
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 Financial review The Trust's incoming resources from Gift Aid donations, Offshore Bond donation and income received from the invested portfolio tolalled £482,99012020- £600,694). The resources expended lotalled £380,47012020 - £336,346) and include grants made of £335,00012020 - £290,491). There is an increase in total fund balances at the year end from £4,171,221 in 2020 10 £5,396,154 in 2021. Appointment and induction of Trustees The power to appoint new or additional Trustees is vested in the Founder during her lifetime and is exercisable by deed bul the Founder may al any time at her discretion by declaration in writing surrender such power either temporarily or forever. In such event, the power to appoint will be vested in the continuing Trustees. In appointing a new Trustee, the Trustees will lake into account the benefits of appointing a person who is able by virtue of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or management of the Charity. Risk managernent The Trustees are responsible for the management of the risks faced by the Charity- All major risks lo which the Charity is exposed have been reviewed and systems have been established to mitigate these risks. Plans for the future The Trustees will continue to make grants lo charities and charitable causes generally within the North Hertfordshire area. They will also consider applications for grants from other areas. The Trustees will invest some of the donations received whenever they consider appropriate.
V D Dixon
16.11.21
I R Woolfe
16.11.21
P Brenham
16.11.21
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE VALIANT CHARITABLE TRUST Opinion We have audited the financial statements of The Valiant Charitable Trust (the 'charity'l for the year ended 5 April 2021 which comprise the Statement of Financial Activities, Balance sheet and notes to the financial statements, ineluding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparab'on 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 Iuniled Kingdom Generally ACpIed Accounting Practicel. In our opinion, the financial stalemenls.. give a true and fair view of the stale of the charity's affairs as al 5 April 2021 and of its incoming resources and application of resources for the year 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 oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilrties for the audit of the fi'nancial statements section of our report. We are independent of the charity in accordance with the ethical requ1mentS that are relevant lo 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 obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iruslees, 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 lo events or conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other information and, except to the exlenl otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 course of the audit or otherwise appears to be materially misststed. If we identify such material
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 inconsistencies or apparent material misststemenls, we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslalement 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 lo report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if, in our opinion- the information given in the trustees, report is inconsistent in any material respect with the financial stalemenls, or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records an returns., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully In the trustees, responsibilities statement sel out on page 5 the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Iruslees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo 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. mallers related lo going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the charity or to cease operations, or have no realistic alternative bul 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 the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo 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 IUKI will always delecl a material misslatemenl when il exists. Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen 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 prOdureS in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected lo have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity- The following laws and regulations were identified as being of significance to the entity..
THE VAUAI•T CHARITABLE TAUST TAUSTEES. REPORT & FINANCIAL STATEMENTS • APRIL Z02fj TO S APRL 2021 Thom IM Y•gulation• lor ttthch non-cornpIFance may be fiJndamental to th• oper•ling •sp•¢l• ol lh• buwn•s9 •nd th•refore may ¥¢ a m4t•ri•l effect on the In•ncwl •Li•mwt• rnclud• complr•nc with Chty Law. Aurfrt und•rt•k•n in fegpon•e to thè poten risks relaling to wreguhrtrs (vthh Indud• frwd norrtornlIfte• Y171h l•w ond ryl•tiMl compfflsed ot. •nquiri• ol manageTrnl and thom chargad gov•m•nce as to ¥thether the antity eorylie• ryth such and r•gul•tion•. •nquwi•• +4Alh th• Conrning •ny #cal or polert1 litsg•tion QT ¢l*'ms.' Mp¢ction ol r•l•v•nt l•gal corra8pondence,' review of boaNI minut•8," testing the
PryOAt•rl• rf joum•l •niriM: I1 Ihe wrformanc* gf an•tytiGal revtew to identy
unexpe¢ted mo¥wn•nl¥ in •¢count b•l•Fws which rnay b• IThJale ol fraud. No In•1¢0 ol rn•t•n rmplIr were Nlentsfied. Plorver. lh• likelihood of detectlng IgUI1rt, indudkng frwd. is Ilrnrt•d by Ihe Inh•rènt difficulty Sn detecltng ¥regUlalIS, th• •ft¢cti¥•nHs olthe •ntity's conlrds. And the nalw8. liming •nd extent of Ihe audit PTo¢•dur perfed. lryulaites thlt r¢sUti fraud might b• inher•ntly more difficult tc det•cl th 1rrWarrt# th47t Telt from •rror. Ag •xpJained above, there i¥ w unavoidable risk Ihal material misstatements may nol be d¢tect•d, even though the audrt h88 plann•d and rfcrfmed in aCGord•nce wth Ishs IUKI. A ti10n of our re¥p(Mwibiliies tr audit af the financi•l statem•nls is l¢xat•d the Fin•nci•l Reportwig Coundl's web$lte .Ltk1aIlo es. This d•sGnpkn fums part ol our •udiior's r•port. Ug• of our Y•port This rep¢yt is made s01•ty tsj the chwty'J tnJtsts¢s. •5 • ty, accorda1¢ ilh Part 4 ofth• Choritieg IAccounlJ and R•ptxtsl Regulabons 2008. Our &j1t h#$ been l•rt¥k•D Ih•t we rnht state io Ihe charity's trustees those rnatters w• are r•quired to state to them an auditor's rewt •nd fc no otlr purpose. To the fuh$t exteTIt permitted by law. we do not atterrt or assume r•iponsibiknty lo •nyone olheT than th• chanty arKJ th• truslees as body, for our wjdil work, for this T•PDrt. forthe opinlons vn have fLYmed. BoumerBullod( IStutoryAuditorl Chartered Accouttsnts Soverugn Hou 212-224 Sh•ftabury A¥•nu• London 2H 8HQ Ik fyoL/fy04U frfrl BourneT BLffjoGk is ellgible for ¥ppoint(Mit a8 authtor of the tharty by wrtue of its ellgibilty br •p1ntmellt as audior of 8 company uniler section 1212 d the Cèmp•nies Act 2006.
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS STATEMENT OF FINANCIAL ACTIVITIES 6 APRIL 2020 TO 5 APRIL 2021 Total Unrestricted funds Total Unrestricted funds 2021 2020 Notes INCOME FROM: Donations 412.500 506,136 94,828 Investments 70,490 Total 482.990 600.964 EXPENDITURE ON.. Raising funds Charitable activities 22.740 357,730 25.754 310,592 Totsl 380.470 3.346 Gainslllossesl on investment assets 11, 14 1,122,413 1555,2771 Net Movement in funds for the year 1,224.933 {290.6591 Reeonciliation: Total funds brought forward 4,171,221 4,461,880 Fund balances at S Aprll 2020 14 5,396,154 4,171,221 The notes on pages 12 to 18 form part ol these financial statements.
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS BALANCE SHEET AS AT 5 APRIL 2021 2021 2020 Notes Fixed assets Investments 5,152,303 3,982.587 Current assets Debtors 12 82,815 174,369 50,000 148,200 Cash at bank and in hand 257,184 196,200 Cieditors. amounts falling due within one year 13 13,333 7,566 Net current assets 243,851 188,634 Total assets less current liabilities 5,396,154 4,171,221 CHARITY FUNDS Unrestricted funds 14 5,396,154 4,171,221 TOTAL FUNDS 5,396,154 4,171,221 The financial statements were approved by the board of Trustees and authorised lor issue on 16.11.21 and signed on its behaw by.. Date V D Dixon Lady Valerie Diana Dixon Trustee 10
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT & FINANCIAL STATEMENTS STATEMENT OF CASH FLOWS 6 APRIL 2020 TO 5 APRIL 2021 2021 2020 Not85 N•t Cash flows from op•rating activitiès.. Net cash provided by (used in) operating ¢tivitie 15a 4,981 1119,1221 Cash flow¥ from investing a¢tivitie¥'. Dividends and Interest from Investments 70.490 94,828 Proceeds of sale of invesltllenls 430.118 486,813 Purchase of investments {481,7e61 1862,9501 Net cash provided by (used inl investing activities 18,842 281,309 Change in cash and cash equivalents in the reporting p8riod 23,823 1400,4311 Cash and cash equivalents al the beginning of the reporting period 266,265 666,696 Cash and cash equivalents at the end of the reporting period 15b 290,088 266,265
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS l At¢ounbny poli¢is The pnnel1 accounllng policies adDPted, judgements and key sourcegof eslimatiDn uncenainty In preparabon ol Ih¥tinan¢iJ 8tstsmts ¥r6 4$folbw 1.1 Basls of preparatlon Thp tinan81 statements have prepared in accord?ncewilh'Acwunbng and RepDrbry by Charthps". Slatetneni ol Recotnrnended Practice applicable lo charities prepanng their accxuDts In accordance wilh the FinarKial Reporting Standard apICable In the UKand Republic of Ireland IFRS 1021 (Second Edition), and the Financial Rewrting Standard apICable In the United n9orn and Republic ol Ireland IFRS 1021 and the Chariues Aci2011 and UK GerallY A¢¢epteo Prad¢ 8$ il applie$ Irom 1 January 201S The finaDGial statemen15 have en prepared lo give a'lrue fairf viewand havedewarta trom the Chatibes {Accounts and Reports) Regulations 2008 onlyto Iheextentrequired lo proVe a true and fair viwi,. This dewrture has InvDlved fdknving'Accounlin9 and Reporting by Charities. Statement ol Recommended Ptseli apKAicable ¢h8rilie$ prerIng Iheir8¢¢0uni$ in 8¢¢ordan¢ewilh the Finan¢i81 Reportiny stsnd4rd 8ppli¢able in the UK Republic of Ireland IFRS 1021 (Secono Edrtv)nl'ralher ihan IheAcoKunbng and RepDrbDg by Chathes." Statetnenlof Recofflmended Practice effective from 1 April 2005 vthiGh has SI withdrawn. 1.2 Incomlng r•gourcès Donation5. legaues and olherfom15 01 vduntsry Income are recogn15ed a5 incoming resourceswhen recerlable, exp1 In50faras they are Incapable olfinancial measurement. Invesbxenl Income IS rewnised ¥then reeav£e. exp1 insof£raA it Is InCatsIe 01financ meaAuremenL 1.3 Resourcps expended l e%penOilurp Is aoUnted foron ?cctuals baws?nd has induded underexpeDse tegoneS that aggregate all cos15 fDrallorAlion lo activities. Vvhere cos15 cxnnot be directly attributed lo parbc4Alaractivilies ihey have been allocated on a sIS consislenlwilh the use of the reSoUrs. ¢o$ts ol gèntrr81ing funds Thiscomprises exFenditure incuThed In connection wlh generdling funds for Chanty. ¢haritabb8¢bwlie$ This COTnprises expendrture iDcutred In conneGtion wlh the La[Itab objectives of the Charjty. Governae costs This comprises expenditure incurred in nneCtIOn Vyilh managernenl and adminlstrabon ol the Chariiy. 1.4 DirectTaxation As a Chatitylhe thatity Is generally exemplfrorn Income taxand capital gains t, bul not from VAT. Irrecoverable VAT Is Included in the cosiof those ttICh il relate5. 1.5 Invèstmonts Invesbxents are held al market value Insofaras they drecapae ol measurement The realised and UnliSed gains or losses are in the $tement ol Fina1¥ A¢bvilie* 1.6 Fund accounting Unreslncted Incotne funds are general lund$that8rt avaiLgbla lor ug6 aithe Irustse¥' Jis¢r6b¢n in lurthèranca oithe objethves ofthe Chanty.
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO 5 APRIL 2021 NOTES TOTHE ACCOUNTS 1.7 Cash C8sh St bank 8nd in hand 1$ held to me# $hort-term ¢a$h ¢ommitmenb as Iheyf811 dLe ratherthan for Invesbxenl putPQ$S. 1.8 Débtors Debtors (inding loans re¢eiV8blel are on Inlll81 rwnibon at $ettiementamouni They are shown In the fin8ncial slalem8nts?I the cash orolher oKnwderon e¥p8cted to bp reCeed. 1.9 Crèdttor¥ The Trust hag¢rediiors whith 8re mea$ured at seiuementamounl$. 1.10 Going Con¢ern The iruslees considerlhere 15 no rnalerial UnrtaInlieS the charivs ability to continue as a going concem. The vIV ol theirlinsncial POSibDn, reserve levels 8nd fure aThS gives trustees conlldence the tthaY remalnsa goiw wn¢sm forlhtrforea0l1UIur On 30 January 2020 theWor Health Organisation dedared the outbreak of the Coronavirus ICovid-181 pandernic lo be a public health emergency ol Inlern2tional concern During Iheye2r the pandemic did not have a Signiftsnt negabve impsct on Ihe¢h¥rily's operabng a¢tivilie$, wrfh the charity being able lo oper¢ $$ normal The Trustses have been reviewing, cortinueto review, ihe Itnpact of the paDdemic OD the operations of the chanty on a regularbasis and have taken measure5 loensure ihe risks faced are ffliligaled. The most recent valuation report availableforlhe Investments held Kryth James Hay Partnership Is as al 1 September 2021 which shows a valuation ol £5.627.424. 1.11 Firt•n¢i81 instrumonts The Trust 8c¢ounis lorihe b9$1¢ linanual In$irumentson inilial recognthon as per p8pagBph 10.7 FR$ 102 SORP. Sub$8quent $sUrM#nI 15 KW par8gr8pfv$ 11.17 to 11.19 FRS 102 SORP. 1.12 Judgrnents accounting policy PrerstiOn ol the8tCOunting statements reqvi¢$ Ihetru$iee8 make ¢ertaln $ignilltsnijudgements and e$iim8te8. Thpre have been no estimates orjudgetnent8re88to rep dunng the linanual year. 2 Voluntary income Total Unrègtrl¢tod funds Total Unr8strict funds 2021 202D Donations and grants 330.QOO 406,136 GIftAid tax recoverable 82.500 100,0 412.500 508,136
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS 3 Investment income 2021 2020 Dividend in¢om8 70.358 92,937 Interestrel¥de 132 1.891 70.490 94,828 4 Analy81$ of t8$OUr oxpondod by •xp8rtdituro ty Othèr ¢o¥ts Grants Total 2021 Total 2020 ¢osts o19ener2llng funds IS re 51 22.740 22.740 25,754 Grantfunding ol activities and projects (see note 61 $35,WO 335,000 290,491 Alkxatsd Govemarbce o)sls (sep Dots 71 22,7S0 22,730 ZO,101 22.740 357,730 380.470 336,346 S Costs of generatlng lunds Total 2021 Total 2020 Investrnenl marbagerfeesand Commis0 22.740 25,754
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS 6 Grants p8y8bloto in8titubons Total Totsl 2021 2020 RedoveloppwJt(buildinul The Letchworth Centre HthY Living- Bu11n9 work 25,000 Kids In Action- re4evelopmenlof their Building SI EIiz8beih'8 Irtfurb adutt a¢¢ommod81ionl Sl Clare's Hoswce- Community sh 114,SO81 50,491 Generalpubllc Keech Hospi 200,0 Herts Young Homel 25,000 Rokry Club Hitchin Tile- Hiithin Mental Health- for supwrtactivrties 20,000 Cettic Hatrnony 10,000 E & N Herts Hospital8 10,000 NDA Wesl Sussex North 10,000 Notman Hyde ScoutTrus1 lo,0 PHASE Hilthin 10,000 Brooke Hospltal forA 5.000 Hac*ney Empire 5,000 Hackney Qve$l 5,000 MIND 5.000 PCC Sl John of JerusaleTn 5,000 Ru$hmore Primary S¢hool 5,000 Speual Effecl.org.uk 5.000 Support [S Ltd 5,000 Keech HoSpi- hydrotheraphy pool patients Home-slart Hertrordshire S¢outA$i¥ll¢n- Gtrneral a¢¢ouni Oyspraxia Foundation 25,000 Daisythains Lut¢n Sl M8ry PCC Tilehouse Counsellirbg-counselling foryoung people Digswell PlaTr RDA Group 10,000 Hiichin's Churches Schools WorkerTrusl 10,000 RNLI 10,000 Ea$iAnyli8n AirAmbu18n¢t Hiithin's Cricket Club 335,000 240,000 Total Grants 335.000 290.491
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS 7 Govrn•n¢• Co8t$ Total Unrestrlcted funds Total Unrestrfcted funds 2021 2020 Auditors lees 2.832 1,920 Legal and profession¥ltses 19,801 18,093 Bank charges 97 22.730 20,101 B Analysis of resources expended by activitips Costs of generatlng funds Grant fundlng of actlvltks Govemance COStS Total Total Z021 2021 2021 2021 2020 22.740 335.000 X,730 380,470 336,346 9 TnBtPF8 No remunerallon w£s pald lo the Trustees and nD expenses irthrred by the Trustses have been relmbursed durlng the ana9ementand administration expenses Include £19 801 1£18.903 in 20201 paid for legal arhd accounbn9 vnrk lo Collyer Bri$iow LLP. 4 firm ol O1¢rt01s, vthere14n RogerW(dlewa$ a rtrner Until September2015 and he 1$ now8 ¢onsuiiant. GIftAid Donations received in ihe yearfrorn Lady Dixon lotalled £330.00012020" £400,000). No donations ¢1 off$ho bond were received frw ¢kied parbe$ in Ihe¢urrentye8r1202D- £2361. 10 Employees The Charity ha5 no ernoYees during ihe currentyearor ihe pIS year.
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS 2021 11 Investments 1l8rttet vJue 81the beginning ol the year Add.- $ddilion8 $1 m$1 Less. disposa15 atcarryirbg value Addldeducl.. prolivllossl on disw>sal Addldeduct. neigainlllossl on revdu30 118rket V81u6 aithe eno 01 ytr8r 2,862,523 451,766 52.293 1,070.120 5,036,5E4 Cash held by J8mps Hay {jnvesltnenl m¥n8gersl pending invesltnent 115,719 5,152.303 Dlsclosurè of Indlvldual Invèstmonts ov8rS% of total ptsrtfollo valuè Any Ind1U31 investsnentswlh a value as at5 April 2021 over£251,829, 15% of £5.036,5841 aredisclosed Value Namè of holdlng AXA Framlington- UK Mid Cap ZAC 8lackRock- European Dynamic FD ACG Fundsmilh Equity l Acc Legal & Gèner81- US Index Tw$1 i A¢¢ Stewart Investors- Asia P8¢if¢ L6aJerg BA¢¢ Z85,187 267.400 288.080 377,056 276,310 12 Debtors 2021 2020 GiftAid tsx due to be recove 82.500 Inoweduefrorn Broker 315 82,815 50,000 13 ¢redit(vs= amounts falling due Mthin one year 2021 2020 AuditllndepeTbdenl Examinerfsfees 5,532 2,700 Loyal and profe$$ionalts*$ 7.801 13.333 7,566
THE VALIANT CHARITABLE TRUST TRUSTEES. REPORT& FINANCIAL STATEMENTS 6 APRIL 2020 TO S APRIL 2021 NOTES TOTHE ACCOUNTS 14 Statement of funds Incorning sovr¢88 RoUrceS Exptrnd•d oth•rgalnB ¥nd loss Carrlèd forw8rd Brought forn•rd Unr•th¢¢•d fund$ 4B2,990 1381,4701 1.122.413 5,296,154 1Sa Reconclllatlon of net Incomellexpendlturelto net cash flow from 0ran9 actlvlues 2021 2020 Net IncomellexpendlturÈl lorthÈ reportln9 las rtheStAtement of 1,L4.933 { 2W,6Sel Alljustments for.. Lossllprolitl on sale ol Invesbxents IGainllk)s5 on revaluation Dividend$ and Inie¢$ifrom inve$imeni8 lIncrSevdeCrease In debtors Incre3selldecreasel In cr8¢ilors 152,2931 11,070,120) 170,4901 174,L11 e29,498 56.250 1345,1fj21 5,766 Net ¢8$h proded by lu$od inl oporating a¢tivitios 4.961 15b Analysls of cash and cash equlyalents 2021 2020 Cash al bank Cash held by JAmes Hay pending Invesbnenl 174.369 115.719 146.200 120,065 Total cash and cash e4uiYalpnts 290,088 266,2fj5