The Rathbone Brothers Foundation (Charity Registration Number: 1150432 )
Accounts for the year ended 31st December 2020
.
Rathbone Trust Company Limited
## The Rathbone Brothers Foundation
Accounts for the year ended 31st December 2020
Index
||Page||,|
|---|---|---|---|
|)||||
||1-5|Trustees' Annual Report||
||6|Independent Examination Report||
||||)|
||7|Statement of Financial Activities||
||8|Balance Sheet||
||9-16|NotestotheAccounts||
;
-
## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Trustees’ Annual Report
The Trustees of the Rathbone Brothers Foundation have pleasure in submitting their Annual Report and Accounts for the year ended 31st December 2020,
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in ‘the UK and Republic of ireland (FRS 102)" (second edition published in October 2019),
## Objectives and Activities of the Charity
The Foundation was established in November 2012 and in accordance with its governing deed the the Trust's objectives are to apply the income towards such charities or such charitable purposes as the Trustees in their absolute discretion think fit. The original objectives of the Foundation are principally to help young people from less privileged backgrounds and those charities where funding would make a significant difference. To fulfil these objectives the Trustees make grants after reviewing proposals put forward by charitable committees representing each Rathbones office. This enables the Foundation to broaden its ambitions, encourage and invoive staff at all levels and provide public benefit across the UK:
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Aberdeen . , Chichester Jersey Lymington
Birmingham Edinburgh Kendal Newcastle
Bristol Exeter Liverpool Winchester
Cambridge Glasgow London
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The Trustees hold Unrestricted Funds and so all funds are available to meet the charity's objectives. The Foundation's income is generated by voluntary donations and its investment assets, with occasional fund raising activities being carried out.
In the short-term, the Trustees also aim to increase the Foundation's funds and build a portfolio of investments so that the Foundation will be self-supporting, by generating a reliable income stream for distribution.
The Trustees comply with the duty in S17 Charities Act 2011 to have due regard to the guidance on Public Benefit issued by the Charity Commission when exercising any relevant powers or carrying out duties,
## Achievements and Performance
The Trustees have resolved to grant each Rathbones office up to £10,000 each financial year to be applied towards such charitable purposes as each charitable committee puts forward for the Trustees' consideration. Rathbones Glasgow office is granted £20,000 and Liverpool and London offices granted £30,000 respectively to reflect their comparative size.
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## The Rathbone Brothers Foundation
## Accounts for. the year ended 3ist December 2020
## Trustees’ Annual Report
During the year, grants were pledged and made totalling £206,000 (£93,900 in 2019). A full list of donations is included in note 5 to the accounts. This brought the total donated by the Foundation nationwide since creation to 31st December 2020 to £580,246.
## Financial Review
Income received from donations and investments during the year totalled £223,275 (£239,645 in 2019) of which £209,809 (£97,557 in 2019) was spent on charitable activities. After taking net gains on investment assets of £74,399 (£110,008 gains in 2019) into account, there was a net increase in funds for the year of £87,865 (£252,096 in 2019). The trustees held £1,241,311 of Unrestricted Funds as at 31st December 2020 (£1,153,446 as at 31st December 2019).
## investments:
The Foundation's capital is invested on the stock market or held in cash. The value of its portfolio as at 31 December 2020 totalled £918,688, an increase from £816,619 as at 31st December 2019. The Trustees have reviewed the portfolio and are satisfied with its performance during the financial period.
Assets have been acquired and disposed of in accordance with the powers available to the Trustees.
## Investment Policies:
As there are no specific restrictions of investment powers under the governing deed, the Trustees have full discretion over the investments. The Trustees have delegated full day-to-day control of the investments to Rathbones Investment Management. ,
## Investment Objectives:
The investment objective of the fund is for income within a medium risk profile, as defined by Rathbone Investment Management terms of business.
## Reserves:
The Trustees do not consider the underlying capital to be reserves since they form a source of income for the Foundation. Currently, it is not the intention of the Trustees to maintain an amount in reserves but will continue to review the policy, particularly when funding commitments for more than one year arise. Accordingly, all funds are considered to be free reserves.
## Structure, governance and management
The Rathbone Brothers Foundation is a registered charity. Its governing body are the Trustees appointed by the original settlement deed dated 19th November 2012 (The deed).
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Trustees’ Annual Report
The deed states that there are to be no less than 2 trustees and new trustees shall be appointed by deed or trustees’ resolution passed at a special meeting called under Clause 15 of the original settlement deed. New trustees shall be selected with regard to the skills, knowledge and experience needed for the effective administration and governance of the Foundation. If a vacancy occurs this shall be noted in the Trustee’ Minutes of the next meeting.
Procedures have not been adopted for the induction and training of trustees but all ensure they continue to operate within current guidelines by discussing all issues arising as advised by the Charity Commission and Rathbone Trust Company during their meetings.
The Trustees have resolved to exercise the power to create Advisory Panels within each Rathbones' office. Each office selects members for the Advisory Panel based upon their knowledge of Rathbone Bros & Co and their involvement and interest in their local charitable sector.
Each Panel méets to review grant applications and make formal recommendations in writing to the Trustees, with whom the ultimate decision lies.
The Trustees hold at feast two ordinary meetings each year. The Trustees keep minutes of the proceedings, recording their decisions and reasons for. those decisions. Decisions on grant applications are usually ratified by the Trustees by email as and when reports are submitted by each Panel. The major risk to the Foundation, as identified by the Trustees, would be poor performance of the investment assets. The Trustees have mitigated this risk by delegating their investment duties to Rathbone Investment Management Ltd, which is a regulated and insured business and the investments are managed by an-appropriately qualified professional. In accordance with the Trustee Act 2000, because the investment duty has been delegated, the Trustees have established a Trustee Policy Statement which must be adhered to by the investment manager. ;
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## Plans for the Future
At the time of signing the Report, the Trustees remain mindful of the impact Covid-19 continues to have on economies all over the world and that the Foundation's funds will be affected by this. - The Trustees shail give due consideration to how this will impact on the level of donations made, however, .are satisfied that the current policies are sufficient to enable the Foundation to meet with its objectives.
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|---|---|
|The Rathbone Brothers Foundation||
|Accounts for the yearended 31st December 2020||
|Trustees’ Annual Report||
|Reference and administrative details ofthe Charity, its Trustees and Advisors||
|Registered No:|4150432|
|Principal office:|8 Finsbury Circus, London, EC2M 7AZ|
|Trusteeswho served|Geoffrey Mark Powell
;|
|during the reporting|Richard Patrick Lanyon|
|period and in post|Robert Paul Stockton|
|on the datethe report|Rathbone TrustCompany Limited|
|was approved:|Stuart Furzer|
|The individualswho are|directors ofRathbone TrustCompany Limited at the date the reportwas|
|approved:
.||
||Stephen Bilbao
Alexander Richmond|
||Linda Joyce Cousins
Timothy Francis Smith|
||James Stephen Hurrell
Robert Paul Stockton|
||Ali Johnson
Karen Jane Toth|
|.|Bruce Robert Newbigging|
|Accountancy & Tax|Rathbone TrustCompany Ltd, Port ofLiverpool Building; Pier Head, Liverpool,|
||L3 INW|
|Independent Examiner:|John Duncan ofGilbert Allen & Co, Churchdown Chambers, Bordyke, Tonbridge|
||Kent, TNS 1NR|
|investment Manager.|Rathbone Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ|
|Bankers:
||Rathbone Investment Management Ltd, 8 Finsbury Circus, London, EC2M 7AZ|
## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Trustees’ Annual Report
## Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and Financial Statement in accordance with applicable law. and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and its income and application of resources for that year.
,
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Trustees' Annual Report
## In preparing these accounts, the Trustees are required to:
- select suitable accounting polices and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
.
- state whether applicable UK accounting standards (FRS102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
- ~ prepare the financial statements on the going concern basis unless itis inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They .are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Declaration
;
The Trustees declare that they have approved the Trustees’ Annual Report above.
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Signed on behalf of the Board of Charity Trustees on_2% 7-19 - 202) ,
iy - Trustee ‘
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
|
## Independent Examiner's Report
## Independent examiner's report to the trustees of the Rathbone Brothers Foundation
| report on the accounts of the Rathbone Brothers Foundation (Charity No - 1150432) for the year ended 31 December 2020 which are set out on pages 7 to 715.
## Respective responsibilities of trustees and the examiner:
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act").
The charity's trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed,
## It is my responsibility to:
- examine the accounts under section 145 of the Act;
- * — to follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act and
- to state whether particular matters have come to my attention.
- f
## Basis of independent examiner's statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to delieve that in any material respect:
- the accounting records were not kept in accordance with section 130 of the Act; or
- * the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
oo a D) anecen AG te-zodj John Dyngan of Gilbert Alfen & Co Date Churchdown Chambers, Bordyke, Tonbridge, Kent, TN9 1NR
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
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|||||||
|---|---|---|---|---|---|
|Statement of financial|activities|
|Unrestricted|Unrestricted|
|Funds|'|Funds|
|2020|2019|
|F|Notes|£|z|
|Income|
|Donations & Legacies|3|206,628|220,639|
|Investments|4|16,647|-|19,006|
|)|223,275|«239,645|
|Total|
|Expenditure|.|
|)|
|Charitable|activities|5|209,809|97,557|
|Total|~~~|309,809|~|97,557.|
|Net Gains / (Losses) on|investments|8|74,399|_|110,008|
|Net movement|in Funds|~~" 87,865|252,096|
|,|
|;|.|
|Reconciliation|of funds|
|Total Funds brought forward as at 1|January 2020|14|1,153,446|901,350|
|Net movement|in funds|87,865|252,096|
|Total Funds carried forward at 31|December 2020|——F941,311|«—~S=«d1, 183,446|
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## The Rathbone Brothers Foundation
||||||,|||
|---|---|---|---|---|---|---|---|
|Accounts fortheyearended 31st December 2020||||||||
|Balance Sheet||||||||
||||Unrestricted||Unrestricted|||
|.||||Funds||Funds||
|:||||2020||2019||
|||Notes||£||z||
|Fixed Assets||||||||
|Investments
_|||8|918,688||816,619||
|Total FixedAssets|||918,688||816,619|||
||||||||||
|CurrentAssets||||||||
|Debtors
,|||9|90|||90|
|Cash atbank and on deposit|||10|364,400||340,405||
|Total CurrentAssets|||~~|364,490|340,495|||
|Liabilities||||||||
|Creditors: amounts falling due||||||||
|within oneyear|||11|41,867|.|3,668||
|NetCurrentAssets|||"922,623.||~~|336,827||
|TotalNet Assetsasat31stDecember2020|||4,241,317||___1,153,446|||
|Kaprieenied by:||||||||
|||||||)||
|The Funds ofthe Charity||||||||
|UnrestrictedFunds|||14|1,241,314||1,153,446|446|
|TotalCharityFundsasat31stDecember2020|||4,244,314||4,153,446|||
|ApprovedbytheBoardofTrusteesandsigned on|||its behalfby:|||||
|maby|Trustee|LT 10.02)
Date||!|)|||
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The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Notes to the Accounts
1 Accounting Policies The Rathbone Brothers Foundation is a Charitable Trust governed by a Settlement Deed dated 19 November 2012 registered in England and Wales. The principal address is 8 Finsbury Circus, London, EC2M 7AZ.
)
## Accounting Convention
These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. :
The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below. The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## Going Concern
At the time of approving the accounts and as detailed in the Trustees’ report the Trustees have considered the impact of Covid-19 on the charity and the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.
.
Charitable Funds Unrestricted funds are available for use at the discretion of the charity in furtherance of their charitable objectives unless the funds have been designated for other purposes. .
,
income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity.
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Notes to the Accounts
## Expenditure
Experiditure is recognised when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date.
Grants are recognised when paid or once the recipient charity has been notified of the donation, unless performance conditions require deferral of the amount.
Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources in no longer required, provisions are reversed and charged to the SoFA.
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## Investments
Investments held in the fund are included at their market value as follows:
- (a) Listed securities are valued at the mid market value ruling at the balance sheet date. (b) Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents at the rates ruling at the balance sheet date,
- (c) Gilts are valued at the mid market value ruling at the Balance Sheet date and include interest that has accrued up to that date.
Investments are classified as a fixed asset except when classified as a current asset where the intention of the trustees is to dispose of the asset and not reinvest the proceeds.
## Other recognised Gains and Losses
Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost and are charged or credited to the Statement Of Financial Activities in the year of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities resulting from revaluing investments to market value at the Balance Sheet date.
## Taxation
The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.
## Cash and cash equivalents
Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits -held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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The Rathbone Brothers Foundation
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:
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## Accounts for the year ended 31st December 2020
## Notes to the Accounts
## Financial Instruments
## The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets : Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. . Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current fiabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities Financia! liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## 2 Critical accounting estimates and judgements
in the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and:-assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Notes to the Accounts
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||||||||
|---|---|---|---|---|---|---|
|3|Donations|2020|2019|
|Received|without restrictions imposed:|£|£|
|Rathbones|200,000|205, 865|
|R|P|Lanyon|0|7,500|
|Sundry donations|of £2,000|and|less|5,752|§,850|
|investments|donated|at|value|876|1,424|
|206,628|220,639|
|4|Income|from|listed|investments|2020|2019|
|£|£|
|Non|dividend|income|)|244|
|Gilt|Interest|1,526|1290|
|Unit|Trust|interest|376|996|
|Unit|Trust|income|784|728|
|UK|Equities|8,511|11,157|
|Overseas|income|§,911|4,636|
|Non-reclaimable|tax deducted|at|source|(663)|(475)|
|Bank|interest|-|Gross|215|436|
|Other -non-reciaimable|deductions|(10)|3]|
|16,647|19,006|
|5|Charitable|Activities|Grant making|Grant making|
|Grant making:|Total|2020|Total 2019|
|£|£|
|Aberdeen|;|
|Community|Food|Initiatives|10,000|0|
|Birmingham|
|Trussell|Trust|5,000|0|
|Mental|Health|UK|5,000|0|
|Bristol|:|||
|FareShare|10,000|0|
|Sea|Mills|Community|4,000|0|
|South.Bristol|Youth|0|2,500|
|Project 28|0|8,000|
|Cambridge|
|East Anglian|Children's Hospice|5,000|0|
|Romsey|Mill|5,000|0|
|Cambridge|Central|Aid|Society|0|2,500|
|Connections|Bus|Project|0|2,500|
|Balance|carried forward|44,000|;|15,500|
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## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Notes to the Accounts
|Notes|Notes to the AccountsAccounts||||eo||
|---|---|---|---|---|---|---|
|§|Charitable Activities|Grantmaking|-||Grantmaking|making|
||Grantmaking:|Total 2020|||Total2019||
|||£||.||£|
||Balance broughtforward|44,000|||;|15,500|
||—||||||
||Chichester||||||
||AldingbourneTrust|4,000||||0|
||Dementia Support|2,000||||0|
||St Peter&James Hospice|0||||§,000|
||StWilfred’s Hospice|2,000||||0|
||Stonepilow
-|2,000||||0|
||SussexSnowdrop Trust|2,000||||)|
||Edinburgh||||||
||Outward Bound Trust|10,000||:|~|§,000|
||Exeter||||.||
||Trussell Trust .|5,000||||0|
||Mental Health UK|5,000||||0|
||Young Devon|0||||§,000|
||Glasgow||||||
||Birth, Baby and Beyond|7,500|||;|0|
||Calum’s Cabin|5,000||||(2)|
||Launch Foods|7,500||||0|
||Peek|0||||5,000|
||Jersey||||||
||Every Child our Future|2,900||a||2,900|
||Jersey Brain TumourCharity|3,600|||:|0|
||Mind
.|1,750||||2)|
||Shelter Trust|1,750||||3)|
||Kendal||||||
||Brathay Trust|3,000||:||3,000|
||Trussell Trust|3,500|||.|0|
||Mental HealthUK|3,500||||a)|
||Patterdale King George|0||||3,500|
||Liverpool||||||
||An HourforOthers|5,000||.|:|0|
||Catholic Blind Institute|5,000|||;|0|
||Centre 56|5,000||||0|
||James' Place
~|5,000||||4)|
||Neo Community|5,000||||9)|
||Northwood Chapel|2,500||||)|
||Southdene Association|2,500||,||0|
||Team Oasis
WestCoast
CWR|0
2)||||§,000
5,000|
||Wingate Special Children's Trust|0||||5,000|
||Balancecarriedforward|146,000|||*|$9,900|
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## The Rathbone Brothers Foundation
## Accounts forthe year ended 31st December 2020
## Notes to the Accounts
|§|Charitable Activities|Grantmaking||||Grantmaking|
|---|---|---|---|---|---|---|
||Grantmaking:|Total 2020||||Total2079|
|||£||||£|
||Balance broughtforward|146,000||||59,900|
||||.||||
||London||||||
||ClearVision|0||||3,000|
||Compliments ofthe House|7,500||||9]|
||Creative Futures|7,500||||0|
||Garden Classroom|0||||9,000|
||Language ofDance Trust|9)||||3,000|
||Mental Health UK|3,750|||||
||Renaissance Foundation|0||||3,000|
||TheirVoice|0||||3,000|
||Trussell Trust|3,750||||0|
||VoyageYouth|7,500||.||0|
||Women'sTherapy Centre|0||||9,000|
||Lymington||||||
||Lymington Community Association|3,000||||0|
||Oakhaven Hospice|3,500||||0|
||Wessex Children's Hospice|3,500||||0|
||Newcastle||||||
||Laff4 Kids|5,000||||0|
||Children's Foundation|5,000||||0|
||Winchester||||||
||Allegra'sAmbition|5,000||||0|
||Andover Baptist Church|0||||2,000|
||StSwithun's|0||||2,000|
||Winchester Youth Counselling|5,000||||0|
||Total grants made|206,000||||93,900|
||Governance costs|3,809||||3,657|
||,|209,809||||97,557|
|6|Governance Costs|2020||||2019|
|||£|||,|£|
||Accountancy and compliancefee|2,738||||2,658|
||Underprovision - prioryear accrual|42||||0|
||Independent Examiner'sfee|4,029||||999|
|||3,809|||.|3,657|
,
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The Rathbone Brothers Foundation
’
## Accounts for the year ended 31st December 2020
## Notes to the Accounts
## 7 Trustees Remuneration and Expenses
9
The trustees are not remunerated for their services. No amounts have been paid to the trustees during the year ended 31st December 2020 or the previous year for out of pocket expenses. Payment of £2,738 (£2,658 in 2019) was made to Rathbone Trust Company for professional services provided.
Rathbone Investment Management (RIM) and Rathbone Trust Company (RTC) are both wholly owned subsidiaries of Rathbone Brothers Plc. The investment management is undertaken by RIM at their standard terms as offered to other charities. RTC is not obliged to appoint or retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management. The matter is monitored and kept under review to ensure that the charity receives appropriate and cost effective investment management services.
|8|Investments|_|Value at|Purchases||Sales|Realised|Unrealised||||Valueat|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||01/12/20|atcost||proceeds|GainsLosses)|Gains/{Losses)|||31/12/20||
||||E|£||£|£|ra||||E|
||Quoted||||||||:||||
||Bonds||112,713|77,251||75,109|(1,077)|5,354||||119,131|
||Overseas|.|311,259|115,327||92,020|1,373|59,785||||395,723|
||UK Equities and||347,851|98,681||101,997|(10,446)|8,420||||342,509|
||Unit Trust Income||||||||||||
||Commodities||44,796|10,096||4,558|783|10,208|||—|61,325|
||||816,619|301,354||273,684|(9,367)|83,766||||918,688|
|9|Current assets||||||2020|||||2019|
||Debtors||||.||£||.|||£|
||HM Revenue&|& Customs - tax reclaimable|||||90|||‘||90|
|||,|||||||||||
||||||||90|||||90|
|10|Gash at Bank||||||2020|||||2019|
||||||||£|||||£|
||Rathbones|~|||||364,400|||||340,405|
||||||||364,400|||||340,405|
:
Page 15
## The Rathbone Brothers Foundation
## Accounts for the year ended 31st December 2020
## Notes to the Accounts the Accounts Accounts
**----- Start of picture text -----**
||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Notes|to the Accounts the Accounts Accounts|;|
|11|Current|liabilities|2020|2019|
|Creditors|£|£|
|Accruals|for|Grants|38,100|0|
|Rathbone|Trust Company|Limited|2,738|2,658|
|Gilbert Allen|1,029|1,010|
|41,867|3,668|
|12|Capital|commitments|and|Contingent|liabilities|
|At|the|31|December|2020|and|31|December|2019|the|Trust|had|no|capital|commitments|or|contingent|
|liabilities.|
|43|Financial|Instruments|2020|2019|
|£|£|
|Carrying|amount of financial|assets|
|Debt-|Cashinstruments|receivable|within|one year|364,400|;|;|340,405|
|Carrying|amount|of financial|liabilities|
|Payable|within|one|year|
|-|Creditors|41,867|3,668|
|Instruments|measured|at fair value|through SOFA|
|investmentsat value|918,688|816,619|
**----- End of picture text -----**
At the 31 December 2020 and 31 December 2019 the Trust had no capital commitments or contingent liabilities.
## 14 Transactions with related parties
Charity law requires transactions with persons or entities that are closely connected to the Trustees of the Rathbone Brothers Foundation fo be identified . Related parties are classed as family members or entities which may be influenced by the charity trustees or of which the trustees of the Rathbone Brothers Foundation have influence over the related parties' powers of governance.
No amounts were received or services supplied by the Charity from related parties during the year ended 31 December 2020 or the year ended 31st December 2019.
When applicable to the financial year, amounts paid from the Charity to related parties are disclosed in note 5. Interests are always declared and acknowledged during determination of applications. In these situations the person with the related party interest does not participate in the decision other than to clarify facts.
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