| Trustees | Dr Kenneth | Gray (Chairman) | Gray (Chairman) | Gray (Chairman) | Gray (Chairman) | ||||
|---|---|---|---|---|---|---|---|---|---|
| John Attree | |||||||||
| Gisela 6ledhill | |||||||||
| Basil Postan | |||||||||
| Roderick Smith | |||||||||
| Kathryn Uhde - appointed |
28 July 2020 | ||||||||
| Bruce Boucher —ex officio |
- resigned | 24 February 2020 | |||||||
| Registered | Office | 13Lincoln's | inn Fields | ||||||
| London | |||||||||
| WC2A 3BP | |||||||||
| Banker | National Westminster |
Bank pic | |||||||
| 214 High Holborn | |||||||||
| London | |||||||||
| WC1V 7BX | |||||||||
| Independent | Auditor | Saffery Champness | LLP | ||||||
| 71Queen Victoria | Street | ||||||||
| London | |||||||||
| EC4V 4BE | |||||||||
| Legal Advisor | Farrer gr Co | ||||||||
| 66 Lincoln's | inn Fields | ||||||||
| London | |||||||||
| WC2A 3LH | |||||||||
| Investment | Manager | Sarasin gr Partners |
LLP | ||||||
| Juxon House | |||||||||
| 100St.Paul's Churchyard | |||||||||
| London | |||||||||
| EC4M 8BU | |||||||||
| Company | Registration | No. | 7965957 | ||||||
| Registered | Charity No. | 1146195 |
| For the year en | de | d 31Dec | ember 2020 | |||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| All Unrestricted | All Unrestricted | |||||
| Note | and Endowment | and Endowment | ||||
| Funds | Funds | |||||
| f | f | |||||
| INCOME AND ENDOWMENTS | FROM: | |||||
| Donations | and Legacies | 4,800 | ||||
| Investments | 213,576 | 209,805 | ||||
| TOTAL | 218,376 | 209,805 | ||||
| EXPENDITURE ON: | ||||||
| Charitable | Activities | 137,266 | 232,219 | |||
| TOTAL | 137,266 | 232,219 | ||||
| Net Gains/(Losses) | on Investments | 10 | 384,673 | 897,250 | ||
| NET INCOME/(EXPENDITURE) | 465,783 | 874,836 | ||||
| RECONCILIATION | OF FUNDS: | |||||
| Total funds brought | forward | 7,144,391 | 6,269,555 | |||
| Total funds carried | forward | 7,610,174 | 7,144,391 |
| Note | 2020 | 2020 | 2019 | 2019 | |||||
|---|---|---|---|---|---|---|---|---|---|
| f | f | f | f | ||||||
| Fixed Assets | |||||||||
| Investments | 10 | 7,058,970 | 6,837,121 | ||||||
| 7,058,970 | 6,837,121 | ||||||||
| Current Assets | |||||||||
| Debtors | 11 | 10,290 | 22,890 | ||||||
| Cash at Bank and | in | Hand | 554,776 | 289,734 | |||||
| 565,066 | 312,624 | ||||||||
| Creditors: amounts | falling due | ||||||||
| within one year |
12 | (13,862) | (5,354) | ||||||
| Net Current Assets | 551,204 | 307,270 | |||||||
| Net Assets | 7,610,174 | 7,144,391 | |||||||
| Represented by |
13 | ||||||||
| Unrestricted | and | Endowment | Funds: | ||||||
| - Unrestricted | Fund | 90,136 | 9,026 | ||||||
| - Endowment | Fund | 6,259,048 | 6,130,837 | ||||||
| - Revaluation | Reserve | 1,260,990 | 7,610,174 | 1,004,528 | 7,144,391 | ||||
| Total Funds | 7,610,174 | 7,144,391 |
| onations | and Legacies | and Legacies | and Legacies | Unrestricted & |
||
|---|---|---|---|---|---|---|
| Endowment | 2020Total | 2019Total | ||||
| f | f | f | ||||
| Other Donations | 4,800 | 4,800 | ||||
| 4,800 | 4,800 | |||||
| Other donations | excludes amounts | received in-year against Deeds of Pledges, where the income had already | been | |||
| accrued | in | prior | years (see note 11). | |||
| nvestmen | ts | Unrestricted & |
||||
| Endowment | 2020Total | 2019Total | ||||
| f | f | f | ||||
| Investment | income {net) | 213,576 | 213,576 | 209,805 | ||
| 213,5'76 | 213,576 | 209,805 |
| 7.Governance costs |
Unrestricted | Unrestricted | 8 | 8 | ||||
|---|---|---|---|---|---|---|---|---|
| Endowment | 2020Total | 2019Total | ||||||
| f | f | f | ||||||
| Trustees' expenses |
554 | 554 | 413 | |||||
| External Auditor fees | 5,400 | 5,400 | 5,040 | |||||
| Other fees | 4,852 | 4,852 | 26 | |||||
| 10,805 | 10,805 | 5,479 | ||||||
| 8.VAT | ||||||||
| The Trust is not VAT registered. | Irrecoverable | VAT totalling | f2,381was incurred | during the | financial | period | ||
| (year ended 31December 2019:f2,331). | ||||||||
| 9.Net income for the year | ||||||||
| 2020Total | 2019Total | |||||||
| f | f | |||||||
| Net income is stated after |
charging: | |||||||
| Auditor's remuneration |
5,400 | 5,040 | ||||||
| 5,400 | 5,040 |
| 10.Investments | Unrestricted & |
|||
|---|---|---|---|---|
| a. Fixed Assets - Investments | Endowment | 2020Total | 2019Total | |
| f | ||||
| Opening Value at 1January |
6,837,121 | 6,837,121 | 5,928,595 | |
| Purchases | 176,603 | 176,603 | 11,276 | |
| Sales Proceeds (Net) | (339,427) | (339,427) | ||
| Realised gain on investments | 128,211 | 128,211 | ||
| Unrealised (loss)/gain |
on investments | 256,462 | 256,462 | 897,250 |
| Value at 31December | 7,058,970 | 7,058,970 | 6,837,121 |
| The hist | oric cost | oft | he inv | estments isf5,797,982 including c |
ash (2019:f5,883,331). | |||
|---|---|---|---|---|---|---|---|---|
| Value at | Value at | |||||||
| 31/12/2020 | 31/12/2019 | |||||||
| f | f | |||||||
| Sarasin | Endowments | Class | A Income Fund | 7,058,970 | 6,485,020 | |||
| Other Equity Investments | 352,101 | |||||||
| Total Fixed Assets - | Investments | 7,058,970 | 6,837,121 | |||||
| b.Cash | at bank | and | in hand - held with Sarasin | f | f | |||
| Cash - Sterling Investment | Account | 2 | 50,738 | |||||
| Cash at | bank and in | hand | - held with Sarasin | 2 | 50,738 | |||
| 11.Debtors | Unrestricted | & | ||||||
| Endowment | 2020Total | 2019Tota I |
||||||
| f | f | |||||||
| Accrued | Income | 2,290 | 2,290 | 1,890 | ||||
| Other Debtors (Donations | -Deeds of Pledges) | 8,000 | 8,000 | 21,000 | ||||
| 10,290 | 10,290 | 22,890 | ||||||
| Included | within | Debtors is | an amount offnil (year ended 31 | December 2019:f8,000) due | in more than | one year. | ||
| 12.Creditors | Unrestricted | 8 | ||||||
| Endowment | 2020Total | 2019Tota I |
||||||
| f | f | |||||||
| Accruals | 13,862 | 13,862 | 5,354 |
| 13.Analysis of Net Assets between Funds |
|||
|---|---|---|---|
| Unrestricted L |
|||
| Endowment | 2020Total | 2019Tota I | |
| f | f | f | |
| Investments | 7,058,970 | 7,058,970 | 6,837,121 |
| Current Assets | 565,065 | 565,065 | 312,624 |
| Current Liabilities |
(13,861) | (13,861) | (5,354) |
| Balances at31December | 7,610,174 | 7,610,174 | 7,144,391 |