##
##
##
|Reference and Administrative
Details||
|---|---|
|Trustees'
Report|2 —5|
|Independent
Auditors'
Report|6 —9|
|Consolidated
Statement of Financial Activities|10|
|Consolidated
Statement of Financial Position|11 —12|
|Company
Statement of Financial Position|13|
|Consolidated
and Charity Statement ofCash Flows|14|
|Notes to the Financial Statements|16—24|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Endowment|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Capital|Income|Group|Group|
|||||Fund|Funds|Funds|Funds|
|||||2021|2021|2021|2020|
||||Notes|E|f||E|
|INCOMING RESOURCES||||||||
|Donations
and legacies||||||||
|Investment
Property
Rental Income|||||931,898|931,898|975,135|
|Investment
Income|||||834,326|834,326|1,241,887|
|Bank Deposit Interest|||||421|421||
|Total incoming
Resources|||||1,766,645|1,766,645|2,217,022|
|RESOURCES EXPENDED||||||||
|Charitable
Activities|||3a||265,617|265,617|205,915|
|Cost of Generating
Funds|||3b||680,087|680,087|1,279,893|
|Governance
Costs|||4||97,515|97,515|92,200|
||||||1,043,219|1,043,219|1,578,008|
|NET INCOMING RESOURCES||||||||
|Net (Deficit) / Income for the year|||||723,426|723,426|639,014|
|Gains on Disposal Fixed Assets|||12|638,787||638,787|405,928|
|Foreign exchange gains/(losses)|||||104,162|104,162|(1,827,625)|
|Investment
Revaluation
gains/(losses)|||12|5,807,880||5,807,880|(5,516,867)|
|Profit/(losses)
from
Disposal|of Fixed|||||||
|Asset Investments|||12|503,156||503,156|120597|
|Net Movement
in Funds||||5,943,511|827,588|6,771,099|(6,420,147)|
|ENDOWMENT
CAPITAL|FUND|8||||||
|REVENUE RESERVES||||||||
|Brought forward||||22,627,993|299,480|22,927,473|29,347,620|
|Funds at 5April 2021||||28,571,504|1,127,068|29,698,5?2|22,927,473|
##
##
##
|||||GROUP||GROUP|
|---|---|---|---|---|---|---|
||||2021|2021|2020|2020|
|||Notes|||f||
|FIXEDASSETS|||||||
|Tangible Assets||||15,225,000||14,709,000|
|Investments||||18,150,574||14,976,113|
|||||33,375,574||29,685,113|
|CURRENT ASSETS|||||||
|Debtors||7|396,956||512,746||
|Cash at Bank and
in Hand|||2,347,606||1,107,749||
||||2,744,562||1,620,495||
|CREDITORS|||||||
|Amounts
falling due within
year|one|9|927,564||2,700,135||
||||927,564||2,700,135||
|NET CURRENT LIABILITIES||||1 816,998||(1,079,640)|
|TOTAL ASSETS LESSCURRENT
LIABILITIES||||35,192,572||28,605,473|
|CREDITORS: AMOUNTS|FALLING|DUE|||||
|AFTER ONE YEAR|||||||
|Bank loan||10||(5,494,000)||(5,678,000)|
|NET ASSETS||||29,698,572||22,927,473|
|THE FUNDS OF CHARITY|||||||
|Endowment
Capital Fund||12||28,571,504||22,627,994|
|Corporate Revenue Reserves||||1,127,068||299,479|
|TOTAL FUNDS||||29,698,572||22,927,473|
##
##
##
##
##
##
##
##
|||GROUP|GROUP|COMPANY|COMPANY||
|---|---|---|---|---|---|---|
|||2021|2020|2021||2020|
|Cash flows from operating
activities:|||||||
|Net (expenditure)/income
for the reporting
period||6,416,322|(6,420,148)|1,281,837|2,761,032||
|Net(gains)/losses
on investments||(5,943,511)|5,231,536|(1,469,029)||914,404|
|Foreign exchange
movements
in investments||104,162|(1,827,625)|80,116|(250,220)||
|Add: Non-operating
investment
management|cost|51,742|(338,909)|51,742|(338,909)||
|Less: Non-operating
investment
income reinvested||180,998|180,583|180,998||180,583|
|Decrease/(increase)
in trade and other receivables||198,253|(279,681)|71,852||32,569|
|(Decrease)/increase
in trade and trade payables||(1,837,160)|(483,846)|38,798||124,122|
|Decrease/(increase)
in investments|||||||
|Net cash from/(used
in) operating
activities||829 194|3,938,090|236,314|3|423,581|
|Cash flows from investing
activities|||||||
|Proceeds from sale oftangible assets|||||||
|Proceeds from disposal of loans to Participating|||||||
|interests|||||||
|Purchases ofother investments
other than loans||44,405,357|28,376,716|34,455,751|33,902,626||
|Proceeds from sale of investments||51643,292|36667,157|33859310|36667,157||
|Net cash from/(used
in) investing
activities||7,237935|8,290,441|596,441|2,764,531||
|Bank loan and overdrafts||9,306,986|9,528,000||||
|Amount
from creditors amounts
due for more|than||||||
|one year|||||||
|Net cash used in financing
activities||9,306,986|9,528 000||||
|Net increase/(decrease)
in cash and cash|||||||
|equivalents||1,239,857|(2,700,531)|832,755||659,050|
|Cash and cash equivalents
at beginning
of year||1,107,749|3,808,280|928,248||269,198|
|Cash and cash equivalents
at end ofyear||2,347 606|1,107,749|1761,003||928,248|
##
##
##
#
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|3a.|Charitable
Activities|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||Endowment|Unrestricted|Total|Total|
|||||||Funds
f|Funds|2021|2020|
||Grant making||||||265,617|265,617|205,915|
||Charity and Group Total||||||265,617|265617|205,915|
|3b.|Cost ofGenerating|Funds||||||||
||Estate Management|Costs||||||||
||Ground
Rent||||||25,536|25,536|27,506|
||Insurance||||||(2,066)|(2,066)|17,846|
||Training
and conference||costs||||610|610|1,172|
||Property
management|fees|||||20,682|20,682|18,143|
||Repairs and maintenance||||||48|48|48|
||Letting Fees||||||11,051|11,051|15,?84|
||Administration
expenses||||||46,904|46,904|47,700|
||Directors salaries 8 Nl||||||151,615|151,615|140,345|
||Wages 8 salaries||||||27,254|27,254|32,390|
||Travel and subsistence||||||2,525|2,525|20,302|
||Other establishment||||||||2,181|
||Legal Fees||||||42 956|42,956|124,706|
||Total Estate Management|||Costs|||327,115|327,115|44S,123|
||Finance Costs|||||||||
||Financial Costs||||||62,360|62,362|54,122|
||Bank Charges||||||11,708|11,707|42,824|
||Bank Loan Interest||||||225,134|225,134|227,883|
||Investment
management|||cost|||53,770|53,770|506 941|
||Total Finance Costs||||||352,972|352,972|831,770|
||Group Total Cost ofGenerating||||Funds||680 087|680 087|1 279893|
|4.|Governance
Cost|||||||||
||Professional
Fees||||||1,500|1,500|15,000|
||Accountancy
Fees||||||82,179|82,179|65,200|
||Auditors'
Remuneration||(Charity)||||13836|13836|12,000|
||Charity and Group Total||||||97515|97515|92200|
|5.|Group Tangible Fixed||Assets|||||||
||||||||||Investment|
||||||||||Properties|
||At Fair Value|||||||||
||6April 2020||||||||14,709,000|
||Additions|||||||||
||Disposal|||||||||
||Revaluation||||||||516,000|
||5April 2021||||||||15225 000|
##
##
##
|F12,344,414(2020:f12,344,
vestments
roup Investments|414)at|the|balance sh|eet date.||||
|---|---|---|---|---|---|---|---|
|||||Listed|Investments|Other||
|||||Company|Subsidiary|Investments|Total|
|Unlisted
investments||||||||
|~Shareholdin||||||||
|At 6 April 2020||||||39|39|
|Additions/transfer||||||||
|Disposal/other
movement||||||||
||||(a)|||39|39|
|Loan Advances||||||||
|At 6April 2020||||||5,957,194|5,957,194|
|Advanced
in the year||||||538,016|538,016|
|Repaid
in the year||||||1 061,288|1,061,288|
|At 5 April 2021||||||5,433,922|5,433,922|
|Total unlisted
investments
atcost as at 5April 2020|held||(a+b)|||5,433,961|5,433,961|
|Listed investments||||||||
|At 6April 2020||||771,313|8,247,567||9,018,880|
|Net Cash injection during|the year|||||||
|Additions/
disposals/
movements||||1 078,466|2,619267||3697,733|
|Total listed
investments
held
fair value as at 5 April 2020||at|(c)|1,849,779|10,866,834||12,716,613|
|Balance carried forward||||||||
|At 5April 2021||||1,849,779|10,866,834|5,433,961|18,150,5?4|
|At 5 April 2020||||771,313|8,247,567|5,957,233|14,976,113|
##
##
##
##
|Company
Investmen|ts||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted
Funds||Endowment
Total Funds
Funds
5Apl' 21||||Total Funds
Year to
5Apr 20|
|||||||||||F|
|Group undertakings|||||||11,514,540|11,514,540||20,552,580|
|(Profit)/loss
on revaluation||of|||||||||
|investment
in subsidiary|||||||||||
|undertaking|||||||5,475,928|5,475,928||(9,038,037)|
|Other investments|||(a+b)|5,433,961|||-|5,433,961||5,957,233|
|Listed investments|||(c)|1|849,779|||1,849779||771 313|
|Total Company
investment||||7,283,740|||16990,468|24,274,208||18,243,089|
|Analysis of Investments|||||||||||
|i)
Other Investments|—Grou||and Com|n|||||||
|||||||||Loan||Total|
||||Shareholding||Cost|of|Investments|Advances||Investments|
||||||shares||as at 5April|(Repaid)|/|as at 5April|
|Company|||||||2020|advanced||2021|
|Edinburgh
Sainsbury|Group||||||||||
|Holdings
Limited||||10%||10|902,800|(902,788)||12|
|Royal Docks Hotel Group|||||||||||
|Holdings
Limited|||||||||||
|Marine Point Group Holdings|||||||||||
|Limited||||5%||5|538,496|(7,000)||531,496|
|M22 Portfolio Property|Limited|||10%||10|666,843|(27,000)||639,843|
|Theobalds
Park Property|||||||||||
|Limited||||5%||5|1,075,000|||1,075,000|
|Project Spirit Property|Limited|||4%||4|1,707,999|(124,500)||1,583,499|
|Marine Point Freehold|Group||||||||||
|Holdings
Limited|||||||217,495|||217,495|
|Akili Network
USA|||||||848,595|538,016||1,386,611|
|||(a+b)||||39|5957233|523 272||5433961|
##
##
##
##
##
##
##
##
##
##
##
##
##
||||2021|2020|
|---|---|---|---|---|
||||E||
|Bank Loans|||184,000|184,000|
|Social security and|other taxes||51,726|78,145|
|Derivative
financial|liability||274,024|2,139,883|
|Other creditors|||249,558|191,428|
|Accruals and deferred||income|168256|106,679|
||||927564|2700135|
##
##
|184000|184000|
|---|---|
|2021
f|2020|
|5494,000|5,678,000|
|5,494000|5,678,000|
|Bank Loans|Bank Loans|||5494000|5678 000|
|---|---|---|---|---|---|
|Company|Creditors|||||
|Amounts|falling due|within one year||||
|||||2021|2020|
||||||F|
|Accruals|and deferred||income|49,887|22,000|
|Social security and||other taxes||3,783|169|
|Derivative|financial|liability||136,169|107,794|
|Other creditors|||||21 077|
|||||189839|151041|
##
##
##
##
##
|Group Endowment
C|apita|l Fund|||
|---|---|---|---|---|
||||2021|2020|
|||||F|
|Balance brought forward|||22,627,993|27,859,529|
|Revaluation
offixed assets|||516,000|629,000|
|Gains/(Losses)
on revaluation||and fair value|||
|movements
in investments|||5,291,880|(6,145,867)|
|Share of Profits/(Losses)|from|Investments|(503,156)|(120,597)|
|Gain on disposal oftangible asset|||638787|405,928|
||||285?1504|22,627993|
##
|2021|2020|
|---|---|
|F|F|
|13,836|12,000|
##
|The total|staff costs an|d employee|benefits for the reporting|period are analysed as follows:||
|---|---|---|---|---|---|
|||||2021|2020|
||||||F|
|Wages and salaries||||177,607|170,951|
|Employer|contributions|to pension|plans|1,262|1,784|
|||||178,869|172,734|
##