##
##
|||Page|
|---|---|---|
|Trustee's Annual
Report||1-4|
|Independent
Auditor's|Report|5-7|
|Statement ofFinancial|Activities||
|Balance Sheet|||
|Cash Flow Statement||10|
|Notes to the Financial|Statements|11 - 19|
|Dates ofDeeds|Dates ofDeeds|Declaration|ofTrust - 23rd December 2009|ofTrust - 23rd December 2009|||
|---|---|---|---|---|---|---|
|||Deed ofAmendment
- 5th January 2011|||||
|Trustee||Messrs. Hoare Trustees|||||
|Directors ofMessrs. Hoare Trustees|||A SHoare||||
||||VEHoare||||
||||SM Hoare||||
||||BSHoare||||
||||AR Q Hoare||||
||||N I Macpherson||||
|||A new Trustee or director may||be appointed|at any time and notwithstanding||
|||that the total|number ofTrustees may exceed four.||||
|||Training is provided to the Trustee(s) on an on going basis.|||||
|Nature ofTrust||A registered|charity, registered|with the Charity Commissioners||for England|
|||and Wales as number
1139904.|||||
|Principal Office||Messrs. Hoare Trustees|||||
|||37Fleet Street|||||
|||London|||||
|||EC4P 4DQ|||||
|Independent|Auditors|Moore Kingston
Smith LLP|||||
|||Devonshire|House||||
|||60 Goswell|Road||||
|||London|||||
|||ECIM 7AD|||||
|Bankers||C.Hoare &|Co.||||
|||37Fleet Street|||||
|||London|||||
|||EC4P 4DQ|||||
|Solicitors||Bates Wells|LLP||||
|||10Queen Street Place|||||
|||London|||||
|||EC4R IBE|||||
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##
||Notes|
|---|---|
|FIXEDASSETS||
|Listed Investments|9|
|Unlisted
Investments|9|
|Programme
Related Investments|10|
|Tangible fixed assets|11|
|CURRENT ASSETS||
|Cash at Bank||
|Sundry Debtors|13|
|CURRENT LIABILITIES||
|Creditors - falling due within one year|14|
|NET CURRENT ASSETS||
|Total assets plus current assets||
|NET ASSETS||
|UNRESTRICTED FUNDS||
|General Endowment
Fund||
|Giving Funds||
|Expendable
Endowment||
|Income Funds||
|2020|2019|
|---|---|
|83,726,504|59,623,796|
|1,287,307|2,243,726|
|238,298|170,040|
|20,200|22,725|
|85,272,309|62,060,287|
|96,107,990|73,117,901|
|210,446|621,953|
|96,318,436|73,739,854|
|269,026|590,654|
|96,049,410|73,149,200|
|181,321,719|135,209,487|
|181,321,719|135,209,487|
|379,304|371,909|
|180,754,946|134,677,530|
|187,469|160,048|
|181,321,719|135,209,487|
##
|||||||2020|2019|
|---|---|---|---|---|---|---|---|
||||||Notes|||
|Cash flows from operating
activities||||||||
|Net cash provided
by operating
activities|||||16|15,252,898|25,562,486|
|Cash flows from investing
activities||||||||
|Dividends
and interest from investments|||||3|1,154,712|1,515,796|
|Proceeds from sale offixed asset investments|||||9|49,253,821|28,274,714|
|Proceeds from sale ofprogramme
related investments|||||10|10,000|10,188|
|Purchase offixed asset investments|||||9|(42,603,099)|(39,675,843)|
|Purchase ofprogramme
related investments|||||10|(78,242)|(50,040)|
|Purchase oftangible fixed assets|||||11||(25,250)|
|Net cash (used in) investing
activities||||||7,737,191|(9,950,436)|
|Change
in cash and cash equivalents|in the|reporting|period|||22,990,089|15,612,051|
|Cash and cash equivalents
at the beginning||ofthe reporting||period||73,117,901|57,505,850|
|Cash and cash equivalents
at the end|ofthe|reporting|period|||96,107,990|73,117,901|
|The charity has no net debt and accoridngly|no net|debt note is|presented.|||||
##
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|INVESTMENT INCOME|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2020|2019|
|Investment
income|||||||||||800,821|874,889|
|Interest on cash deposits|||||||||||116,176|272,986|
|Interest on loan notes|||||||||||238,022|366,260|
|Compensationaiy
sum received re incorrect stock transfer||||||||||||1,608|
|Income cash currency
(loss)/gain|||||||||||(307)|53|
||||||||||||1,154,712|1,515,796|
|INCOME FROM OTHER TRADING ACTIVITIES|||||||||||||
||||||||||||2020|2019|
|Hurlingham
Club charity ball and auction||||||||||||292,825|
|||||||||||||292,825|
|CHARITABLE ACTIVITIES|||||||||||||
|The charity undeitook
no direct charitable||activities but||awarded||donations|||to a number ofinstitutions||in furtherance|ofits|
|charitable
activities.|||||||||||||
||||||||||||2020|2019|
|Grants made during the year|||||||||||43,533,342|25,027,469|
|Previous years donation
adjustments|- Over provision ofprevious|||||year|||||(2,284)||
||- Under||provision ofHod||HaCamel|||committed||payments||15,933|
|Support costs (see note 7)|||||||||||500,238|423,444|
||||||||||||44,031,296|25,466,846|
|The total comprised
grants to the following:|||||||||||||
|The prevention
or relief ofpoverty|||||||||||3,779,801|980,634|
|The advancement
ofeducation|||||||||||5,993,814|4,015,328|
|The advancement
ofreligion|||||||||||813,853|491,191|
|The advancement
ofhealth or the saving oflives|||||||||||15,778,193|4,545,753|
|The advancement
ofcitizenship
or|community||development||||||||1,775,869|8,865,987|
|The advancement
ofthe arts, culture, heritage|||or science||||||||4,744,601|2,290,355|
|The advancement
ofamateur
sport|||||||||||108,940|156,980|
|The advancement
ofhuman
rights,|conflict|resolution
or||reconciliation|||or the||||||
|promotion ofreligious or racial|harmony||or equality|and diversity|||||||51,030|316,000|
|The advancement
ofenvironmental|protection||or improvement||||||||787,987|319,080|
|The reliefofthose in need, by reason ofyouth, age, ill-health,|||||disability,||||||||
|financial
hardship
or other disadvantage|||||||||||3,975,834|1,297,700|
|The advancement
ofanimal welfare|||||||||||473,072|165,600|
|The promotion ofthe efficiency of|the armed||forces ofthe Crown,|||orof||the|||||
|efficiency ofthe police, fire and rescue||services or ambulance||||services|||||218,545|575,319|
|Any other charitable
puipose|||||||||||5,031,803|1,007,542|
||||||||||||43,533,342|25,027,469|
##
##
|Institutional
Donations of|f100,0|00 and over|||||
|---|---|---|---|---|---|---|
|Action on Addiction||||||624,873|
|Advance Advocacy &Non-Violence||Community|Edu||cation|150,000|
|Age UK||||||260,650|
|Age UK Kensington &Chelsea||||||125,000|
|Alzheimer's
Society||||||150,475|
|British Exploring Society||||||170,254|
|British Red Cross||||||600,500|
|Chelsea and Westminster
Hospital NHS Foundation||||T
rust||500,000|
|Christopher
&Dana Reeve Foundation||||||241,594|
|City Bridge Trust||||||200,000|
|Clink Charity||||||2,000,000|
|Cornwall
Air Ambulance||||||104,500|
|COVID-19 Relief &Recovery, Barbados||||||1,301,556|
|Crisis UK||||||260,000|
|Dementia UK||||||160,500|
|Edith Cavell Fund for Nurses||||||250,000|
|Emmaus
Gloucestershire||||||200,000|
|Fareshare||||||745,000|
|Film &Television
Charity||||||100,000|
|Five Towns Plus Hospice Fund||||||157,500|
|Forward Trust||||||451,500|
|Glass Door Homeless
Charity||||||250,000|
|Gloucester Cathedral||||||250,000|
|Gloucestershire
Community|Foundation|||||100,000|
|Governors For Schools||||||985,000|
|Heart-Based Living Initiative||||||195,000|
|Helpforce Community
Trust||||||250,000|
|Hestia Housing &Support||||||100,000|
|Hospice UK||||||500,000|
|Institute for Cancer Vaccines|and Immunotherapy|||||400,000|
|Kensington &Chelsea Foundation||||||110,000|
|Longfield Hospice Care||||||155,000|
|Machynlleth
Tabernacle Trust||||||100,000|
|Macmillan
Cancer Support||||||252,425|
|Maggie Keswick Jencks Cancer Caring Centres|||Trust|||655,000|
|Mailforce Charity CIO||||||1,000,000|
|Marylebone
Project||||||150,000|
|National
Emergencies
Trust||||||500,000|
|National
Gallery Trust||||||346,067|
|Neurokinex
Charitable
Trust||||||262,000|
|NHS Charities Together||||||5,250,000|
|One Small Thing||||||471,000|
|Passage 2000||||||560,000|
|Pepper Foundation||||||100,000|
|Ramsdell
Church &Village Hall||||||200,000|
|Refuge||||||600,000|
|Royal Academy ofArts||||||2,506,000|
|Royal Foundation||||||255,110|
|Royal Opera House Covent Garden||Foundation||||522,750|
|Royal Osteoporosis
Society||||||250,000|
|Royal Trinity Hospice||||||251,225|
|Royal Voluntary
Service||||||200,000|
|Balance carried forward|||||P14|26480479|
##
##
|5|CHARITABLE ACTIVITIES (continued)||||
|---|---|---|---|---|
|||||2020|
||Institutional
Donations off100,000 and over||||
||Balance brought
forward|||26,480,479|
||Safelives|||150,000|
||Samaritans|||250,225|
||Smart Works Charity|||112,000|
||Solace Women's
Aid|||150,000|
||StMartin-in-the-Fields
Charity|||600,500|
||StMary's Bourne Street|||100,000|
||St Ma&y's PCC, Chipping
Norton|||100,000|
||StMungo Community
Housing Association|||251,450|
||Stewardship
Services Ltd|||490,000|
||Stowe School Foundation|||350,000|
||Strategic Resource Group Inc.|||700,000|
||Substance Abuse Foundation|||870,803|
||Sue Ryder|||205,000|
||Sutton's Hospital
In Charterhouse|||100,000|
||Synchronicity
Earth|||335,000|
||Target Ovarian Cancer|||120,000|
||Teenage Cancer Trust|||130,000|
||Temple Church|||109,843|
||The Big Give Trust|||200,000|
||The Care Workers Charity|||250,000|
||The Prudence
Trust|||3,250,876|
||Trussell Trust|||360,500|
||UK Friends ofthe Association for the Wellbeing|ofIsrael's Soldiers||100,000|
||United World Schools|||100,571|
||University ofBuckingham|||100,000|
||Victoria and Albert Museum|||502,000|
||Whitley Fund for Nature|||114,000|
||Winnie Mabaso Foundation|||175,000|
||Women's
Aid Federation ofEngland|||150,000|
||Zoological Society ofLondon|||160,000|
||Total grants over
%,100,000|||37,068,247|
|6|RELATED PARTY TRANSACTIONS||||
||||2020|2019|
||Donations received from aDirector ofthe Trustee||45,000|93,750|
||Donations
received from other charities where||||
||Messrs. Hoare Trustees is aTrustee:||||
||The Golden Bottle Trust (Charity Commission|no. 327026)|108,000|82,000|
||||153,000|175,750|
##
##
|ANALYSIS OF SUPP|ORT COSTS||||
|---|---|---|---|---|
||||2020|2019|
|Bank charges|||322|190|
|Cost ofprinting
voucher|books||5,988|3,048|
|Miscellaneous
expenses||||772|
|Depreciation oftangible|fixed asset||2,525|2,525|
|Legal fees|||50,046|36,050|
|Administration|||58,626|104,304|
|GOVERNANCE
COSTS|||||
|Trustee Administration|Fee (including|VAT)|359,676|247,291|
|Independent
Auditor's
Remuneration|||23,055|17,500|
|(Over)fUnder
provision ofprevious||years audit fee||(20)|
|Legal Costs||||11,784|
||||500,238|423,444|
|INVESTMKNT RELATED FEES|||||
|Investment
Management|fees||156,499|115,049|
|Custody Fees|||22,646|12,626|
|Enhance Investment
Review Fees|||1,350|950|
||||180,495|128,625|
##
##
|FIXEDAS|SETINVESTMENTS|SETINVESTMENTS|||||
|---|---|---|---|---|---|---|
|Movement|in fixed asset investments||Listed|Unlisted|Total||
||||||2020|2019|
|Investments|||||||
|Market Value Brought||Forward|59,623,796|2,243,726|61,867,522|41,555,104|
|Investments|gifted in||27,333,911||27,333,911|6,302,937|
|Add:|Acquisition
costs||42,542,045|61,054|42,603,099|39,675,843|
|Less:|Disposal proceeds||(48,236,348)|(1,017,473)|(49,253,821)|(28,274,714)|
|Realised (losses)/gains||on disposals|(1,476,629)||(1,476,629)|1,120,433|
|Unrealised|gains:||3,939,729||3,939,729|1,487,919|
|Market Value Carried||Forward|83,726,504|1,287,307|85,013,811|61,867,522|
|Historical cost as at 30th September 2020|||76,340,372|62,521|76,402,893|57,379,590|
##
##
|Movement|in programme
relate|d in|vestments||||
|---|---|---|---|---|---|---|
||||||2020|2019|
|Unlisted programme
related investments|||||||
|Value brought
forward|||||170,040|130,188|
|Adjustment|to previous year - CW||Renewable|Energy||(188)|
|Programme|related investments|Acquired:|||||
||813 Herddle
Group|Limited|||78,242|50,040|
|Programme|related investments|Redeemed:|||||
||100 London Missional||Housing Bond||(10,000)|(10,000)|
|Unrealised|profit on investments||||16||
|Value Carried Forward|||||238,298|170,040|
|Historical|cost as at 30th September||2020||238,469|170,227|
|ed|programme
related investments
held|programme
related investments
held||||2020|2019|
|---|---|---|---|---|---|---|---|
||40,000|Adoption UK Charity 5%Fixed Rate Unsecured|||Loan Notes 2021|40,000|40,000|
||25,000|CW Renewable
Energy EISFund||||25,000|25,000|
||1|EcoPower Indian Ocean Ltd||||23,165||
||813|Herddle Group Limited||||50,040|50,040|
||100|London Missional
Housing Bond|||||10,000|
||10,000|Mission Housing Limited 1.25%|Loan 30/11/2024|||10,623||
||50,000|Mustard
Seed Maze Social Entrepreneurship||Fund||44,470||
|33.33333||Oikocredit GBPDepository Receipts||||5,000|5,000|
||39|Relational
Analytics
Ordinary f.l|Shares|||39|39|
||14,961|Relational
Analytics
Preference Shares ofKl||||14,961|14,961|
||25,000|Relational
Analytics
Subordinated|Loan Notes|||25,000|25,000|
|||||||238,298|170,040|
##
##
|TANGIBLE FIXEDASSETS||||
|---|---|---|---|
|||2020||
|||Motor vehicles|Totals|
|Cost||||
|At 1stOctober 2019and 30 September 2020||25,250|25,250|
|Depreciation||||
|At 1stOctober 2019||2,525|2,525|
|Charge for year||2,525|2,525|
|Disposals||||
|At 30th September 2020||5,050|5,050|
|Net book. value||||
|At 30th September 2020||20,200|20,200|
|At 30th September 2019|P17|22,725|22,725|
##
##
##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|DEBTORS||||||||2020|2019|
|Cash due fiom donors|||||||||371,150|
|Gift Aid tax reclaim||||||||62,688|5,091|
|Investment
income/interest|||due|||||1,186|1,036|
|Recoverable
tax on investment||||income||||64,131|43,305|
|Donations to be repaid/to|||be received|||||25,000|145,973|
|Loan to Herddle Limited||||||||5,000||
|Other Debtors and prepayments||||||||52,441|55,398|
|||||||||210,446|621,953|
|CREDITORS||||||||2020|2019|
|Due within
one year||||||||||
|Trustee Administration||Fees||||||102,620|180,833|
|Independent
Auditor's|Remuneration|||||||40,305|17,500|
|Investment
Management|||Fees|||||43,259|28,380|
|Custody fees||||||||5,581|3,923|
|Donation Committed-||||||||||
||-|Hod HaCarmel|||Educational|Centre for Children|||220,658|
||-|University ofExeter Social||||Mobility Scholarships|Fund||100,000|
|Other creditors||||||||77,261|39,360|
|||||||||269,026|590,654|
##
##
##
|15|ANALYSIS OF N|ET|ASSET|SBETWEEN FUNDS|||||
|---|---|---|---|---|---|---|---|---|
||||||——————-Unrestricted||Funds ——————-||
|||||General|||||
|||||Endowment||Expendable|||
|||||Fund|Income|Endowment||Total Funds|
|||||2020|2020||2020|2020|
||Fixed Assets||||||||
||Listed Investments|||350,727|||83,375,777|83,726,504|
||Unlisted
Investments||||||1,287,307|1&287&307|
||Programme
Related||Investments||||238,298|238,298|
||Tangible fixed assets||||||20,200|20,200|
||Current Assets||||||||
||Cash|||29,917|187,469||95,890,604|96,107,990|
||Sundry Debtors||||||210,446|210,446|
||Creditors due within|one year||(1,340)|||(267,686)|(269,026)|
||Creditors
due over one||year||||||
||Total|||379,304|187,469|180,754,946||181,321,719|
||||||——————-Unrestricted||Funds ——————-||
|||||General|||||
|||||Endowment||Expendable|||
|||||Fund|Income|Endowment||Total Funds|
|||||2019|2019||2019|2019|
||Fixed Assets||||||||
||Listed Investments|||353,244|||59,270,552|59,623,796|
||Unlisted
Investments||||||2,243,726|2,243,726|
||Programme
Related Investments||||||170,040|170,040|
||Tangible fixed assets||||||22,725|22,725|
||Current Assets||||||||
||Cash|||19,811|160,048||72,938,042|73,117,901|
||Sundty Debtors|||458|||621,495|621,953|
||Creditors
due within|one year||(1,604)|||(589,050)|(590,654)|
||Creditors
due over one||year||||||
||Total|||371,909|160,048|134,677,530||135,209,487|
|16|RECONCILIATION||OF OPERATING SURPLUS TO NET CASH||||2020|2019|
||INFLOW FROM OPERATING ACTIVITIES||||||||
||Net operating
income|||||43,688,152||33,556,241|
||Investment
income||||||(1,154,712)|(1,515,796)|
||Investments
gifted|||||(27,333,911)||(6,302,937)|
||Gains on Currency transactions||||||(39,036)|260,716|
||Depreciation||||||2,525|2,525|
||(Increase) in Debtors||||||411,507|(199,277)|
||(Decrease)/increase|in Creditors|||||(321,628)|(238,986)|
||Net cash inflow from operating|||activities||15,252,898||25,562,486|