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|Trustees|||Baillie Tolkien|||
|---|---|---|---|---|---|
||||Michael Tolkien|||
||||Simon Tolkien|||
|Secretary|||Cathleen
Blackburn|||
|Charity|number||1150801|||
|Company||number|8354834|||
|Registered||office|Prama House|||
||||267 Banbury|Road||
||||Oxford|||
||||OX2 7HT|||
|Auditor|||Critchleys
Audit||LLP|
||||Beaver House|||
||||23-38 Hythe|Bridge Street||
||||Oxford|||
||||OX1 2EP|||
|Bankers|||Lloyds Bank|pic||
||||Oxford|||
|Solicitors|||Maier Blackburn||LLP|
||||Prama
House|||
||||267 Banbury|Road||
||||Oxford|||
||||OX2 7HT|||
|Investment||advisors|Investec Wealth||8 Investment|
||||30 Gresham|Street||
||||London|||
||||EC2V 7QN|||
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||||Page|
|---|---|---|---|
|Trustees'|report|||
|Statement|oftrustees'|responsibilities||
|Independent
auditor's||report|5-8|
|Statement|of financial|activities||
|Balance sheet|||10|
|Statement|ofcash flows|||
|Notes to|the financial|statements|12-21|
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||||||||Unrestricted
Unrestricted|Unrestricted
Unrestricted|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2022|2021|
|||||||Notes|f||
|Income from:|||||||||
|Donations
and|legacies|||||||58|
|Investments||||||3|614,641|642,228|
|Royalties|||||||5,270,353|37535,777|
|Total income|||||||5,884,994|4,178,063|
|Raising funds||||||4|313,117|311,345|
|Charitable
activities||||||5|5,918,573|5,751,208|
|Total expenditure|||||||6,231,690|6,J62,553|
|Net gains/(losses)||on investments||||9|(4,291,947)|2,384,315|
|Net Income and net movement|||||in funds||(4,638,643)|199,825|
|Fund balances|at 1||January|2022|||36,291,530|36.391,705|
|Fund balances|at||31 December||2022||31,652,887|36291,530|
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||||||2022|2022|2021|2021|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||Notes|6||6|||
|Fixed assets||||||||||
|Heritage assets||||12|||279,000||279,300|
|Investments||||13||23,335,492|||27,115, 03|
|||||||23,614,492|||27,394, 03|
|Current assets||||||||||
|Debtors||||14|1,934,311||2,492,790|||
|Cash at bank|and in|hand|||7,768,058||10,164,281|||
||||||9,702,369||12,657,0'71|||
|Creditors: amounts||falling due within||||||||
|ons year||||15|(658,974)||(2,239,844)|||
|Net ourrent assets|||||||9,043,396||10,417427|
|Total assets|less current||liabilities||||32,657,887||37.311.530|
|Creditors: amounts
mors than one year||falling dus after||16|||(1,005,000)||(1,520.000)|
|Net assets|||||||31,852,887||36,291530|
|income funds||||||||||
|Unrestricted|funds||||||31,652,887||36291.530|
||||||||31,652,887||36291.530|
|The financial|statements||were approved|and authorised|for issue by ihe|Trustees on .gg~..ex'||t|~Z~|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|6|5|
|Cash flows from operating||activities|||||
|Cash absorbed
by operations||||19|(2,498,528)|(203,442)|
|Investing|activities||||||
|Purchase|of heritage assets|||||(279,000)|
|Purchase|of investments||||(6,915,753)|(3,989,110)|
|Proceeds|from disposal of|investments|||6,403,417|3,458,521|
|Investment|income received||||614,641|642,228|
|Net cash|generated
from/(used||in)||||
|investing|activities||||102,305|i167,361)|
|Net cash|used in financing|activities|||||
|Net decrease
in cash and||cash|equivalents||(2,396,223)|(370,803)|
|Cash and|cash equivalents|at beginning||ofyear|10,164,281|10535,084|
|Cash and|cash equivalents|at|end of|year|7,768,058|10164,281|
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|3|Investments|Investments|||
|---|---|---|---|---|
||||Unrestricted|Unrestricted|
||||funds|funds|
||||2022f|2021f|
||Dividends|received|532,849|534,058|
||Interest receivable||81,792|108,170|
||||614,641|842,228|
||||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022f|2021f|
|UK legal fees relating||to|contract and copyright|matters|172,847|174,615|
|US and other overseas|||legal fees||38,940|33,439|
|Other professional
fees|||||3,310|2,638|
|Legal and|professional||||215,097|210,692|
|Investment|management||fees||98,020|100,653|
||||||313,117|311,345|
##
|||||Grant|Grant|
|---|---|---|---|---|---|
|||||funding|funding|
|||||2022|2021f|
|Grant|funding|of activities (see note 6)||5,651,000|5472,000|
|Share|of support costs (see note 7)|||188,116|195,356|
|Share|of governance||costs (see note 7)|79,457|83,852|
|||||5,918,573|5 751,208|
##
##
|6|Grants payable||||||
|---|---|---|---|---|---|---|
|||||GrantGrant||funding|
|||||funding|||
|||||2022f||2021
5|
||Grants to institutions:||||||
||Analysed
below|||5,651,000|5,472,030||
|||||2022f||2021
6|
||ActionAid|||125,000||150,030|
||Age UK|||70,000|||
||Aladdin
Project|||20,000||20,030|
||Alzheimer's
Research||UK|70,000||30,030|
||Association
IMAD|||20,000||20,030|
||Asylum
Welcome|||110,000||80,030|
||Basmeh
&Zeitooneh|||20,000||20,030|
||Be Free Young Carers|||20,000||20,000|
||Become Charity|||50,000||50,000|
||Best Friends Animal Society|||50,000||35,000|
||Birdlife International|||20,000||20,000|
||Bodleian
Library|||35,000||25,000|
||British Friends of Neve||Shalom|35,000||100,000|
||Camfed
International|||100,000||100,000|
||Centre Primo Levi|||140,000||85,000|
||Challenging
MND|||50,000|||
||Change Please Foundation|||||40,000|
||Children
on the Edge|||30,000||30,000|
||Claremont
McKenna|College||45,000||45,IXIO|
||ClientEarth|||200,000||200,000|
||Colorado State University|||40,000|||
||Cutteslowe
Community||Association|15,000||15,000|
||Detention
Action|||40,000||40,000|
||Direct Relief|||170,000||40,000|
||Doctors ofThe World||UK|80,000|||
||Duke of Edinburgh
Award|||70,000|||
||Dominican
Council|||10,000||10,000|
||Dragon School Trust|||30,000||25,000|
||Emergency
UK|||10,000||10,000|
||Exeter College Oxford|||50,000|||
||Glass Door Homeless||Charity|120,000||120,COO|
||Greenpeace|||150,000||150,000|
||Hillside
House|||25,000|||
||Hope Project Lesvos|||30,000||30,COO|
||Howard
League for Penal Reform|||30,000||30,COO|
##
##
|6|Grants payable|||||(Continued)|
|---|---|---|---|---|---|---|
||Human
Rights Watch||||100,000||
||Humanity
& Inclusion||||110,000|10,000|
||Kent Refugee Action Network||||15,000|15,000|
||La Cimade||||114,000|100,000|
||Leeds Hospital
Charity||||50,000||
||Linda Norgrove
Foundation||||70,000|20,000|
||Linkage
Community
Trust Ltd||||50,000|50,000|
||Maison Shalom||||30,000|30,000|
||Marie Curie||||70,000|30,000|
||Marine
Mammal
Center||||30,000|30,000|
||Medecins
du Monde||||200,000|100,000|
||Mddecins Sans Frontieres||||300,000|400,000|
||Memorial
de la Shoah||||40,000|20,000|
||Museum
of Oxford Development||Trust|||100,000|
||My Name'5
Doddie Foundation||||50,000||
||One Acre Fund||||100,000||
||Oxford Bach Choir||||25,000||
||Oxford Food Hub||||30,000|30,000|
||Oxford Lieder Limited||||25,000|25,000|
||Oxford Philharmonic
Orchestra||||15,000|15,000|
||Oxford Playhouse
Trust||||10,000|10,000|
||Oxford Shakespeare
Ensemble||||45,000|20,000|
||oanzi Foundation||||125,000|75,000|
||oesticide Action UK||||100,000|90,000|
||ohotography
Oxford||||10,000|10,000|
||&ilotes Volontaires||||135,000|100,000|
||orimo Levi Centre||||90,000||
||orison Phoenix Trust||||20,000|20,000|
||orisoners Abroad||||80,000|80,000|
||Reading
List Foundation||||25,000|25,000|
||RefuAid
(Prism the Gift Fund)||||20,000||
||Reprieve||||95,000|95,000|
||ResQ||||10,000|10,000|
||Road to Recovery||||90,000|30,000|
||San Marcos High School AAPLE||Acad|emy|30,000|25,000|
||Sanctuary
Hosting
Limited||||20,000|20,000|
||Santa Barbara Museum
ofArt||||25,000|15,000|
||SchoolReaders||||50,000|50,000|
||Settle Support||||40,000|40,000|
||Shelterbox||||100,000||
||Solidarltes
International||||325,000|100,000|
||SOS Humanity||||25,000|25,000|
||Southampton
and Winchester|Visitors'||Group|20,000|20,000|
||Spark Inside||||25,000|25,000|
||St Luke's Oxford||||10,000||
||Support a Survivor ofTorture||||25,000|25,000|
||The Tablet Trust||||20,000|20,000|
||The Turtle Hospital||||25,000|15,000|
||Theatres Trust||||20,000|20,000|
||TREAT (Trust for Research and||Educe|tion on the Arms Trade)|145,000|145,000|
||Uganda
Childbirth
Injury Fund||||25,000|25,000|
##
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##
|||||||
|---|---|---|---|---|---|
|Grants payable|||||(Continued)|
|Ukrainian
Patriot||||70,000||
|University
of Manitoba||||(75,000)||
|University
of Oxford Botanic Garden||||25,000|25,000|
|University
of Oxford (The JRR Tolkien Professorship||of English|Literature||1 500,000|
|and Language)||||||
|University
of Oxford (Care for COVID-orphaned|children)|||92,000|92,000|
|University
of Sussex||||10,000|10,000|
|Videre Est Credere||||75,000|30,000|
|Vll Foundation||||30,000||
|VNA Health
Foundation||||25,000||
|Wiener Holocaust
Library||||15,000|15,000|
|Wilderness
Youth Project||||25,000|10,000|
|Work Rights Centre||||30,000||
|Working
Chance||||40,000|40,000|
|||||5,651,000|5,472,000|
|Support costs|||||||||
|---|---|---|---|---|---|---|---|---|
||||Support|Governance|2022|Support costs|Governance|2021|
||||costs|costs|||costs||
||||f||6|6|f|6|
|UK legal fees relating||to|||||||
|grant administration|||12,224||12,224|13,475||13,475|
|Other professional|fees||175,383||175,383|181,336||181,336|
|Other costs|||509||509|545||545|
|Auditors' fees - audit-|||||||||
|current year||||8,500|8,500||7,000|7,000|
|Auditors' fees - audit-|||||||||
|prior year adjustment||||1,685|1,685||(255)|(255)|
|Auditors' fees - tax|||||||||
|compliance|||||||750|750|
|Legal and professional||||69,272|69,272||76,357|76,357|
||||188,116|79,457|267,573|195,356|83,852|279,208|
|Analysed
between|||||||||
|Charitable
activities|||188,116|79,457|267,573|195,356|83,852|279,208|
##
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##
||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2022
8|2021f|
|Revaluation|of|investments|(4,291,947)|2,384,315|
##
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##
|13|Fixed asset investments|Fixed asset investments|Fixed asset investments|||||
|---|---|---|---|---|---|---|---|
|||||Equities|Fixed interest|Cash held by|Total|
|||||(listed)|securities|Investment||
||||||(listed)|managers||
||Cost or valuation|||||||
||At 1 January 2022 (split re-stated)|||24,039,912|2,573,842|501,349|27.115,103|
||Additions|||6,192,007|723,746||6,915,753|
||Valuation
changes|||(4,115,497)|(176,450)||(4291,947)|
||Disposals|||(5,552,285)|(802,204)|(48,928)|(6,403,417)|
||At 31 December|2022||20,564,137|2,318,934|452,421|23,335,492|
||Carrying
amount|||||||
||At 31 December|2022||20,564,137|2,318,934|452,421|23,335,492|
||At 31 December|2021||24,608,512|2,005,242|501,349|27 115,103|
|14|Debtors|||||||
|||||||2022|2021|
||Amounts
falling|due|within one year:|||6|6|
||Royalties
receivable|||||1,920,977|2 481,762|
||Other debtors|||||13,334|11,028|
|||||||1,934,311|2492,790|
|15|Creditors: amounts||falling due within one year|||||
|||||||2022
6|2021f|
||Grants awarded|not yet paid||||536,422|2 108,422|
||Accruals and deferred||income|||122,552|131,222|
|||||||658,974|2.239,644|
|16|Creditors: amounts||falling due after more than|one year||||
|||||||2022|2021|
|||||||6|F|
||Grants awarded|not yet paid||||1,005,000|1 520,000|
##
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##
||||||||||At 31|
|---|---|---|---|---|---|---|---|---|---|
|||||||At 1 January|Amounts|Payments|December|
|||||||2022|Awarded|Made|2022|
||||||||f|6|f|
|2022 movements||||||||||
|University|of Manitoba|||||||||
|Alan Klass Memorial
Fund Programme||||||180,000|(75,000)|15,000|90,000|
|Bodleian|Archivist|||||250,000||45,000|205,000|
|Bodleian|Curator of Medieval||Manuscripts|||325,000||60,000|265,000|
|Bodleian|Library - other|||||11,422|||11,422|
|University|of Oxford The|JRR|Tolkien|||||||
|Professorship
of English||Literature|||and|||||
|Language||||||1,280,000||320,000|960,000|
|Citd Internationale
de la||tapisserle|||Aubusson|100,000||100,000||
|Awarded|December 2021I, paid|||In|2022|1,482,000||1,482,000||
|Awarded|and paid
in 2022||||||5,716,000|5,716,000||
|Awarded|December 2022; paid|||in|2023||10,000||10,000|
|||||||3,628,422|5,651,000|7,738,000|1 541,422|
||||||||||At 31|
|||||||At 1 January|Amounts|Payments|December|
|||||||2021|Awarded|Made|2021|
|||||||E|6|f|f|
|2021 movements||||||||||
|University|of Manitoba|||||||||
|Alan Klass Memorial
Fund Programme||||||180,000|||180,000|
|Bodleian|Archivist|||||295,000||45,000|250,000|
|Bodleian|Curator of Medieval||Manuscripts|||385,000||60,000|325,000|
|Bodleian|Library - other||||||25,000|13,578|11,422|
|University|of Oxford The|JRR|Tolkien|||||||
|Professorship
of English
Language||Literature|||and||1,600,000|320,000|1280,000|
|Cite Internationale
de la||tapisserie|||Aubusson|100,000|||100,000|
|Awarded|December 2020; paid|||in|2021|25,000||25,000||
|Awarded|and paid
in 2021||||||2,365,000|2,365,000||
|Awarded|December 2021; paid|||in|2022||1,482,000||1 482,000|
|||||||985,000|5,472,000|2,828,578|3628,422|
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|19|Cash generated
from|operations|operations|||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||6|6|
||(Deficit)/surpus
for the|year||||(4,638,643)|199,825|
||Adjustments
for:|||||||
||investment
income recognised||in statement|offinancial|activities|(614,641)|(642,228)|
||Fair value gains and losses on||investments|||4,291,947|(2,384,315)|
||Movements
in working|capital:||||||
||Decrease/(increase)
in|debtors||||558,479|(336,352)|
||(Decrease)/increase
in|creditors||||(2,095,670)|2,559,628|
||Cash absorbed
by operations|||||(2,498,528)|(203,442)|
|20|Analysis
ofchanges|in net funds||||||
||The charity had no debt during||the year.|||||