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2020-12-31-accounts

Page Description Description
Legal and Administrative Information
4-5 Trustees' Report
Examiner's Report
Statement of Financial Activities
Balance Sheet
9-13 Notes

Charity Registration Charity Registration Number 1143502
Settlors Ms Dawn Loraine Thesiger and Ms Philippa Merryn Thesiger
Governing Instrument Declaration
ofTrust dated 22 March 2011
Trustees Mrs Charlotte
Brown
Mrs Laura Dadswell
Mrs Jocelyn
Neill
Law ofTrust England
&Wales
Principal Address for Penningtons
Manches Cooper LLP
Correspondence 31 Chertsey Street
Guildford
Surrey
GU1 4HD
Solicitors Penningtons
Manches Cooper LLP
31 Chertsey Street
Guildford
Surrey
GU1 4HD
Investment Managers Saranac Partners
16StJames's Street
London
SW1A 1ER
Custodians Credit Suisse (UK) Ltd
Five Cabot Square
London
E144QR
Accountants &Examiners Steve Robinson
FCA
Mercer 8 Hole Chartered Accountants
21 Lombard
Street
London
EC3V 9AH

Restated
2020 2020 2020 2019
Unrestricted Endowment
Note fundf Fundf Totalf Total
f
Income
Incoming
resources
from generated		 funds:
Investment
Income		 85,145 85,145 70,898
Other income 47,993 47,993
Endowment
funds		 (85,386) (85,386) 4,067,756
Total Income 133,138 85,386 47,752 4,138,654
~Ex enditure
Charitable
activities:
Grants to Charities (189,963) (189,963)
Legal and administrative costs (32,584) (32,584) (39,104)
Cost of raising funds (50,220) (50,220) (25,239)
Gains/ Losses
on Investment		 Assets
Currency
gains
/ (losses)		 (18,187) (18,187) (709)
Realised
during the year		 (145,353) (145,353) 12,947
Unrealised
during
the year		 227,977 227,977 110,001
Net ex enditure
for the
ear		 after
ains and losses 208,330) 208,330) 57,896
Net Movement
in Funds		 (75,192) (85,386) (160,578) 4,196,550
Funds Brou
ht Forward at 1 Janua		 2020 577,587 6,067,756 6,645,343 2,448,793
Funds Carried Forward at 31 December 2020 502,395 5,982,370 6,484,765 6,645,343

Restated
2020 2019
Note Total Total
f. F
Fixed Assets
Investments 8 5,663,334 2,394,586
Current Assets
Debtors 376,584 4,067,756
Cash at bank and stockbrokers 10 474,123 203,335
850,707 4,271,091
Creditors
Amounts falling due within one year 11 ~29,276 ~20,334
Net Current Assets 821,431 4,250,757
Total Net Assets 6,484,765 6,645,343
The funds of the charity:
Endowment fund 5,982,370 6,067,756
Unrestricted funds 502,395 577,587
Total charity funds 6,484,765 6,645,343

1.Accountln
Policies		 1.Accountln
Policies
(a) Basis ofpreparation
offinancial statements
The accounts
(financial
statements)
have
been
prepared
in accordance
with
the Statement
of Recommended
Practice:
Accounting
and
Reporting
by
Charities
preparing
their
accounts
in accordance
with
the
Financial
Reporting
Standard
applicable
in the UK and Republic of Ireland (FRS102) 2nd Edition issued October 2019 and
the Financial
Reporting
Standard
applicable
in the
United
Kingdom
and
Republic
of Ireland
(FRS102) and
the
Charities Act 2011 and UK Generally
Accepted Practice as it applies from
1 January 2015.
The accounts
(financial statements)
have been prepared
to give a 'true and fair' view and have departed
from the
Charities
(Accounts
and
Reports)
Regulations
2008 only to the extent
required
to provide
a 'true
and
fair view'.
This departure
has
involved
following
the Accounting
and
Reporting
by Charities
preparing
their
accounts
in
accordance
with the Financial
Reporting
Standard
applicable
in the UK and
Republic
of Ireland
(FRS102) 2nd
Edition
issued
on
October
2019 rather
than
the
Accounting
and
Reporting
by
Charities:
Statement
of
Recommended
Practice effective from
1 April 2005 which has since been withdrawn.
(b) Incoming resources
All incoming
resources
are included
in the Statement
of Financial
Activities
when
the charity
is legally
entitled
to
the income and the amount
can be quantified
with reasonable
accuracy.
(c) Resources expended
All expenditure
is accounted
for on an accruals
basis
and has been
included
under
expense
categories
that
aggregate
all costs for allocation
purposes.
Grants payable
are recognised
in the year when
the offer is made,
providing
that any related
conditions
within
the
control of the Trustees
have been fulfilled.
Grants offered subject to conditions
which
remain
within
the control of
the Trustees and have not been met at the year end are noted as a commitment,
but not accrued as expenditure.
Value Added Tax is not recoverable
by the charity and, as such, is included
in the relevant
costs in the Statement
of Financial Activities.
(d) Cash fIow
The financial
statements
do not include
a cash
flow statement
because
the
charity,
as a small
reporting
entity
within
the provisions
of FRS 102, is exempt
from the requirement
to prepare
such a statement
(effective 16 July
2014).
(e) Investments
Investments
are stated at market
value at the balance sheet date.
The Statement
of Financial
Activities
includes
the net gains and losses arising
on revaluations
and disposals
during the year.
Taxation
The trust is a registered
charity
and, as such,
is not subject to tax on its income
and gains
falling
within
Sections
518to 537 ofthe Income Tax Act 2007 or Section 256 ofthe Taxation of Chargeable
Gains Act 1992 are exempt
from income and capital
gains tax to the extent that they are applied to its charitable
purposes.
(g) Conversion
to FRS102
The
previous
years'
financial
statements
were
not
presented
in
accordance
with
Charities
Statement
of
Recommended
Practice 2019 (FRS102) as these accounts
have been converted
to be presented
on this basis.
The accounts were previously
presented
on a receipts and payments
basis.

2. Investment
Income		 Restated
2020f 2019
f
Fixed interest 53,726 35,905
Equity 31,419 34,993
85,145 70,898
3. Other income
2020f 2019
f
Interest income from estate of deceased person (net oftax) 22,224
Dividend
income		 from estate ofdeceased person (net oftax) 25,769
47,993
4. Endowment
funds		 Restated
2020f 2019
f
Amount
receivable
Adjustment
to sum
5. Grants		 from estate ofdeceased person
due from estate ofdeceased
person		 ~85,386
~85,386		 4,067,756
4,067,756
2020f 2019
f
The Countryside
Restoration		 Trust 5,000
Rain Rescue 3,000
Hearing
Dogs for Deaf		 People 5,000
Cats Protection
Membership		 Account 1,000
The Freedom of Spirit Trust 1,000
The Mare and Foal Sanctuary 5,000
StreetVet 14,843
Redwings
Horse Sanctuary		 50,000
South Downs Centre 5,000
Prickles Hedgehog
Rescue		 500
RSPCA Hillingdon,
Slough,		 Windsor, Kingston and District 35,620
RSPCA Solent Branch 20,000
Support Dogs Ltd 16,000
Hope Rescue 20,000
Worthing
Animal
Clinic		 8,000
189,963
All grants were made to animal welfare charities in line with the objects ofthe charity.
6. Le al and Administrative Costs Restated
Unrestricted
fund		 2020f 2019
f
Legal & compliance
fees		 28,420 36,196
Bank fees 1,284 238
Accountants'
remune Examiner's		 fee 2,880 2,670
32,584 39,104
7. Costs ofraisin
funds		 Restated
2020 2019
f
Unrestricted
fund
Investment
manager's		 fees 50,142 25,031
LEI registration/renewal fee 78 208
50,220 25,239

8
. Fixed Asset Investments Restated
2020 2019
Historical cost at 1 January 2020 2,312,121 2,409,091
Additions
at cost
Disposals at cost
Historical cost at 31 December 2020		 9,530,383
~6,489,612
5,352,892		 1,450,887
~1,547,857t
2,312,121
Cumulative
unrealised
gains/(losses)		 at 31 December 2020 310,442 82,465
Market Value as
er Balance Sheet		 5,663,334 2,394,586
Structu
ofthe
ortfolio b
market value
Liquidity
&similar investments		 4.54% 7.82%
Fixed income 8 similar investments 36.06% 36.06%
Equities 8 similar investments 44.01% 42.39%
Alternative
investments,
commodities		 & real estate 5.39% 13.73%
8. Debtors Restated
2020 2019
E
Due from unadministered
estate ofdeceased		 person 376,227 4,067,756
Income due 357
376,584 4,067,756
10.Cash at bank and investment
mana
ers
2020 2019
E
Solicitors Client Account 205,000
Investment
Manager - GBP account		 156,860 192,086
Investment
Manager - USD account		 5,777 9,365
Investment
Manager - EUR account
Investment
Manager-
CHF account		 169 1,388
496
Investment
Manager - JPYaccount		 106,317
474,123 203,335
11.Creditors: amounts
fallin
due within one		 ear Restated
2020 2019
Legal &compliance fees 14,832 17,914
Investment
manager's
fees
Independent
examiner fees		 11,564
2,880		 2,420
29,276 20,334

13.Com arative Statement ofFinancial Activities for arative Statement ofFinancial Activities for arative Statement ofFinancial Activities for arative Statement ofFinancial Activities for arative Statement ofFinancial Activities for revious ear
Restated Restated Restated
2019 2019 2019
Unrestricted Endowment
fund Fund Total
F E F
Income
Incoming
resources
from generated		 funds:
Investment Income 70,898 70,898
Other income
Endowment
funds		 4,067,756 4,067,756
Total Income 70,898 4,067,756 4,138,654
~Ex eeditere
Charitable activities:
Grants to Charities
Legal and administrative costs (39,104) (39,104)
Cost of raising funds (25,239) (25,239)
Gains/ Losses on Investment Assets
Currency gains
/ (losses)		 (709) (709)
Realised during the year 12,947 12,947
Unrealised during the year 110,001 110,001
Net ex enditure for the
ear after
ains and losses 57,896 57,896
Net Movement
in Funds		 128,794 4,067,756 4,196,550
Funds Brou ht Forward a
1 Janua		 2019 448,793 2,000,000 2,448,793
Funds Carried
Forward		 at 31 December 2019 577,567 6,067 756 6,645,343

Anal
is o		 fcharitabl e
funds
Balance at 1 Income I Gains or Funds at 31
Jan. 2020 adjustment Expenditure losses Dec. 2020
P P F P
Unrestricted fund 577,587 133,138 (272,767) 64,437 502,395
Endowment fund 6,067,756 (85,386) 5,982,370
Total 6,645,343 47,752 ~272,767 64,437 6,484,765
Previous year
Balance at 1 income I Gains or Funds at 31
Jan. 2019
F		 adjustment
f		 Expenditure losses Dec.2019
Unrestricted fund 448,793 70,898 (64,343) 122,239 577,587
restated
Endowment fund 2,000,000 4,067,756 6,067,756
restated
Total		 2448,793 4,138654 ~64343 122 239 6,645343
Name offund Description,
nature and purpose offund
Unrestricted fund The funds
from		 which the trustees intend to make grants to animal welfare charities.
Endowment fund Funds provided by the Settiors ofthe charity. There is no restriction on making grants
from
this source.

Anal
i		 s ofof net assets between funds
2020 2020 2020
Unrestricted Endowment
Fund Fund Total
P P E
Fixed asset investments 57,192 5,606,143 5,663,334
Debtors 357 376,227 376,584
Cash at bank and stockbrokers 474,123 474,123
Creditors falling due within one year (29,276) (29,276)
Total 502,396 5,982,370 6,484,765
Previous year 2019 2019 2019
Unrestricted Endowment
Fund Fund Total
P
Fixed asset investments 394,586 2,000,000 2,394,586
Debtors 4,067,756 4,067,756
Cash at bank and stockbrokers 203,335 203,335
Creditors falling due within one year (20,334) (20,334)
Total 577,587 6,067,756 6,645,343