2021-06-30-accounts - The Dawes Trust

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				Page
Legal and	administrative		information
Trustees'	report			2-6
Statement	of Trustees'		responsibilities
Independent examiner's			report
Statement	offinancial	activities
Statement	offinancial	position		10
Statement	ofcash flows
Notes to the accounts				12 —19
Investment	schedule			20-27

Trustees		Mr Alexander Cuppage	Mr Alexander Cuppage	Mr Alexander Cuppage
		Mr Graeme Kleiner
		Sir Stephen Lander
		Professor Michael		Hough
Charity number		1142951
Registered	office Iaddress for appeals	8 Finsbury Circus
		London
		EC2M 7AZ
Independent	examiner	David Matkins
		Bourner Bullock	Chartered			Accountants
		114St Martin's	Lane
		Covent Garden
		London
		WC2N 4BE
Solicitors		Charles Russell	Speechlys			LLP
		5 Fleet Place
		London
		EC4M 7RD
Investment	advisors	Rathbone Investment			Management		Limited
		8 Finsbury Circus
		London
		EC2M 7AZ
		UK
		Stonehage Fleming
		15Suffolk Street
		London
		SW1Y4HG

June 2021, t	he value wa	s E3,035,
Cash:		36.3%
Bonds:		0%
UK Equities:		14.4%
International	Equities:	36.7%
Gold:		12.6%

					2021	2020
				Notes
Income
Returned donations					82,957	131,596
Investments					82,467	143,931
Bank interest					340	4,685
Total income					165,764	280,212
Expenditure
Charitable activities					2,927,813	1,575,326
Net (expenditure)		before investment	gains		(2,762,049)	(1,295,114)
Net gains / (losses) on investments					979,621	(174,055)
Net movement	in funds				(1,782,428)	(1,469,169)
Fund balances	at 1 July 2020				7,829,590	9,298,759
Fund balances	at	30June 2021			6,047,162	7,829,590

						2021		2020
					Notes	f
Fixed assets
Investments					12		8,926,733		8,963,021
Current assets
Debtors					13	913		903
Cash at bank and		in	hand			5,314		7,757
						6,227		8,660
Creditors:	amounts		falling due within		14
one year						(722,539)		(305,137)
Net current	liabilities						(716,312)		(296,477)
Total assets less		current		liabilities			8,210,421		8,666,544
Creditors:	amounts		falling due after		15
more than	one year						(2,163,259)		(836,954)
Net assets							6,047,162		7,829,590
Income funds
Unrestricted	funds						6,047,162		7,829,590
							6,047,162		7,829,590

					2021		2020
				Notes
Cash flows from operating		activities
Cash absorbed by operations						(1,101,149)	(1,867,797)
Investing activities
Purchase of investments					(2,040,849)		(1,560,095)
Proceeds on disposal of investments					2,787,318		3,309,986
Accrued interest							2,609
Dividends and interest received from investments					82,798		148,616
Net cash generated from	investing
activities						829,267	1,901,116
Net (decrease)/increase	in	cash and	cash
equivalents						(271,882)	33,319
Cash and cash equivalents	at beginning		ofyear			1,586,279	1,552,960
Cash and cash equivalents		at end of	year	17		1,314,397	1,586,279

							2021	2020
							F	F
	Returned donations		—PADS / Cambridge	University			82,957	131,596
4	Investments
					Rathbones	Stonehage	Total	Total
						Fleming	2021	2020
	UK dividends				27,541	21,135	48,676	109,368
	Foreign interest					9,042	9,042	29,692
	Foreign dividends				4,713	20,036	24,749	6,792
	Accrued interest							(1,921)
					32,254	50,213	82,467	143,931
5	Bank interest
							2021	2020
							F	F
	Rathbones						340	4,639
	Charles Russell Speechlys							46
							340	4,685
6	Charitable activities
							2021	2020
	Grant funding	ofactivities (see note 7)					2,834,396	1,505,579
	Support costs	(see note 8)					90,057	67,288
	Governance costs (see note 8)						3,360	2,460
							2,927,813	1,575,326

Support costs
								Support	Governance	2021	2020
								costs	costs
Rathbones investment		management			fees			9,668		9,668	9,623
Stonehage Fleming	investment			management			fees	14,937		14,937	18,100
Charity administration		and	accountancy			fees		10,560		10,560	10,680
Charles Russell Speechlys			professional			fees		51,900		51,900	24,378
Buss Murton Law professional				fees				2,970		2,970	4,350
Auditors fees									480	480	2,460
Trustees expenses								10		10	157
Bank charges								12		12
Independent examiners		fees							2,880	2,880
								90,057	3,360	93,417	69,748

					2021	2020
Buss Murton	Law LLP —Mr	Alexander	Cuppage		2,970	4,350
Charles Russell Speechlys		LLP - Mr	Graeme	Kleiner	51 900	24 378
					54 870	28 728

Net gains / (losses) on i	n	ve	stme	nt	s
										2021f	2020f
Unrealised gain / (loss) on	investments									730,922	(91,273)
Realised gain / (loss) on investments										248,699	(82,782)
										979,621	(174,055)
Fixed asset investments
			~R~hn			g			nh Fl min
						Listed		Cash in	Listed	Cash in	Total
				investmentsf				portfoliof	investmentsf	portfoliof
Cost or valuation
At 30June 2020					2,074,455			1,349,520	5,310,044	229,001	8,963,020
Additions							219		2,040,630		2,040,849
Unrealised profit					202,208				528,714		730,922
Realised profit					100,114				148,584		248,698
Cash available to invest								(247,066)		(22,372)	(269,438)
Disposals					(443,470)				(2,343,848)		(2,787,318)
At 30June 2021					1,933,526			1,102,454	5,684,124	206,629	8,926,733
Investments representing		more		than		5%ofeach		porffolios total	market value (excluding cash):
Investment								Units	Market Value f	%ofTotal Value	Market
Stoneha e Flemin
Blackrock Institutional Sterling			Liquidity			Fund		2,160,907	2,160,907	38.02%
Thesis Unit Trust Stonehage			Fleming					548,542	2,326,366	40.93%
Rathbones
Capita Financial Mgrs Trojan			Global		Income S			79,791	99,460	5.14%
Edgewood LSelect US I Z								310	105,588	5.46%
Evenlode Investment Management					Ltd			47,992	115,315	5.96%
Fil Investment Services W	Income							50,000	106,350	5.50%
Link Fund Solutions Trojan	Income S							53,167	99,651	5.15%
Monks Investment Trust								11,500	157,780	8.16%
Ninety One Fund Mgrs UKAlpha								86,000	114,346	5.91%
Threadneedle Investment	Funds							73,000	108,507	5.61%
Wisdomtree Metal Secs Ltd		Physical			Gold		(USD)	1,500	181,288	9.38%
Wisdomtree Metal Secs Ltd		Daily
Hedged Physical Gold								21,000	201,547	10.42%

											2021f	2020
	Listed investments										7,617,650	7,384,499
	Cash in investment				portfolio						1,309,083	1,578,521
											8,926,733	8,963,020
	Historic cost ofinvestments
											2021	2020
	Rathbones										1,499,778	2,058,033
	Stonehage		Fleming								5,174,019	5,417,739
											6,673,797	7,475,772
13	Debtors:	amounts			falling		due within		one year
											2021f	2020
	Dividends	due and		accrued			income				913	903
14	Creditors:		amounts		falling		due within one year
											2021f	2020
	Investment		mangement			fees - Rathbones					2,220	2,347
	Investment		mangement			fees - Stonehage				Fleming	3,000	4,200
	Trust administration				and accountancy				fees		15,840	26,160
	Auditors fees										2,820	2,340
	Independent		examiners			fees					2,880
	Legal fees										13,740	9,480
	Donation	payments			agreed		but unpaid				682,039	260,610
											722,539	305,137
15	Creditors:		amounts		falling		due after		more than one year
											2021f	2020
	Donations		agreed	but payable				after more than one year			2,278,353	836,954
	Effects of	discount									(115,094)
											2,163,259	836,954

							2021	2020
	Deficit for the year						(1,782,428)	(1,469,169)
	Adjustments for:
	Investment income	recognised		in statement	of financial	activities	(82,807)	(148,616)
	(Gain)/loss on disposal of investments						(248,699)	82,782
	Fair value gains and losses on			investments			(730,922)	91,273
	Movements in working capital:
	Increase/(decrease)	in creditors					1,743,707	(424,067)
	Cash absorbed by operations						(1,101,149)	(1,867,797)
17	Cash and cash equivalents
							2021	2020
	Cash at bank and	in hand					5,314	7,757
	Cash available to	invest					1,309,083	1,578,521
							1,314,397	1,586,278
18	Reconciliation of	grant creditor
							2021	2020
							f
	Opening grant creditor						1,097,564	1,524,960
	Grants authorised	in the year					3,013,327	1,505,579
	Grants paid in the	year					(1,086,662)	(1,932,975)
	Long term grants discounted		to	net present	value		(178,931)
							2,845,298	1,097,564
	Due within one year						682,039	260,610
	Due after one year						2,163,259	836,954
							2,845,298	1,097,564

Donations approved during the year	Donations approved during the year
		2021	2020
Anglia Ruskin University		430,000	160,000
Birkbeck College (ICPR)			299,954
Crest Advisory		150,000	201,000
Crest Advisory (Covid 19)		109,091
Just for Kids Law		119,369
Justice		21,275
Not Beyond Redemption		10,000
Police Foundation - Phd	M Skidmore		16,400
Police Foundation		40,000	88,800
Police Foundation (Covid	19)	90,909
PRIMO		1,881,190
Sentencing Academy			563,550
Start Up —Breaking the Cycle 2		30,000
Understanding Islam			150,000
University of Birmingham		69,000
University ofCambridge	-A Cope	3,000	18,250
University ofCambridge	—D Packham		7,625
University of Kent		59,493
		3,013,327	1,505,579
Movement in present value ofcreditor due after more than one year		(178,931)
		2,834,396	1,505,579

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