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|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||||||
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|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|
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||||||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|
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|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|
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|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|
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|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|
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|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|
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