| Page | |||
|---|---|---|---|
| Reference and administrative | details | 1-2 | |
| Trustees' report |
3-11 | ||
| Trustees' responsibilities statement |
12 | ||
| Independent auditor's |
report | 13 - 16 | |
| Statement offinancial | activities | 17 | |
| Balance sheet | 18 | ||
| Statement ofcash flows | 19 | ||
| Notes to the financial | statements | 20-33 |
| Trustees | Mr D B H Aspinall, | Chair | ||
|---|---|---|---|---|
| Professor C M Longson | ||||
| Mrs SSiegel Poulios | ||||
| Dr D LStables | ||||
| Aspinalls Fiduciary |
Limited (resigned 2December 2021) | |||
| Company | registered | |||
| number | 08492424 | |||
| Charity registered | ||||
| number | 1151978 | |||
| Registered | office | Oxnead Hall |
||
| Oxnead | ||||
| Norfolk | ||||
| NR10 5HP | ||||
| Independent | auditor | UNW LLP | ||
| Citygate | ||||
| St.James' Boulevard | ||||
| Newcastle upon Tyne |
||||
| NE1 4JE | ||||
| Bankers | Unity Trust Bank pic | |||
| Nine Brindleyplace | ||||
| Birmingham | ||||
| B12HB | ||||
| Cater Allen Limited | ||||
| 2 Triton Square | ||||
| Regent's Place | ||||
| London | ||||
| NW1 3AN | ||||
| Solicitors | Stone King | |||
| Boundary House | ||||
| 91 Charterhouse | Street | |||
| London | ||||
| EC1M 6HR |
| Investment | advisors | Quilter Cheviot Limited | Quilter Cheviot Limited | |
|---|---|---|---|---|
| One Queensway | ||||
| London | ||||
| WC2B 6AN | ||||
| Seven Investment | Management | LLP | ||
| 55 Bishopsgate | ||||
| London | ||||
| EC2N 3AS | ||||
| Psigma Investment |
Management | |||
| 11Strand | ||||
| London | ||||
| WC2N 5HR | ||||
| Sparrows Capital |
||||
| 35Ballards Lane | ||||
| London | ||||
| N3 1XW |
| Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||
| 2021 | 2021 | 2020 | |||||
| Note | F | ||||||
| Income from: | |||||||
| Donations | 2 | 27,368,318 | 27,368,318 | ||||
| Investments | 3 | 521,498 | 521,498 | 595,961 | |||
| Total income | 27,889,816 | 27,889,816 | 595,961 | ||||
| Expenditure on: |
|||||||
| Investment management |
costs | 262,706 | 262,706 | 211,307 | |||
| Charitable activities |
4,581,203 | 4,581,203 | 1,621,264 | ||||
| Total expenditure | 4,843,909 | 4,843,909 | 1,832,571 | ||||
| Net expenditure | before | net (losses) / gains on | |||||
| investments | 23,045,907 | 23,045,907 | (1,236,610) | ||||
| Net (losses) / gains on investments | 4,742,250 | 4,742,250 | (345,530) | ||||
| Net movement | in funds | 27,788,157 | 27,788,157 | (1,582,140) | |||
| Reconciliation | offunds: | ||||||
| Total funds brought forward | 36,909,914 | 36,909,914 | 38,492,054 | ||||
| Net movement | in | funds | 27,788,157 | 27,788,157 | (1,582,140) | ||
| Total funds carried forward | 64,698,071 | 64,698,071 | 36,909,914 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | F | ||||
| Cash flows from operating activities |
|||||
| Net cash | used in operating activities |
(10,226,659) | (1,927,841) | ||
| Cash flows from investing activities |
|||||
| Dividends, | interests and rents from investments |
521,498 | 595,961 | ||
| Purchase | of intangible assets |
(6,000) | |||
| Proceeds | from sale of investments | 11,290,884 | 32,553,348 | ||
| Purchase | of investments | (2,362,360) | (30,049,729) | ||
| Net cash | provided by investing activities |
9,450,022 | 3,093,580 | ||
| Change | In cash and cash equivalents | in | the year | (776,637) | 1,165,739 |
| Cash and cash equivalents at the beginning |
ofthe year | 2,939,395 | 1,773,656 | ||
| Cash and cash equivalents at the end |
of | the year | 2,162,758 | 2,939,395 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| E | E | E | ||
| Legacy | income | 27,368,318 | 27,368,318 |
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2020 | ||
| f. | F | |||
| Dividend | income | 462,907 | 462,907 | 496,112 |
| Interest | on investments | 58,591 | 58,591 | 99,849 |
| 521,498 | 521,498 | 595,961 | ||
| Total 20 | 20 | 595,961 | 595,961 |
| Support | Total | Total | ||
|---|---|---|---|---|
| Grant giving | costs | funds | funds | |
| 2021 | 2021 | 2021 | 2020 | |
| F | F. | F | F | |
| Grants awarded | 4,382,488 | 186,715 | 4,569,203 | 1,609,264 |
| Grant administration | 12,000 | 12,000 | 12,000 | |
| 4,394,488 | 186,715 | 4,581,203 | 1,621,264 | |
| Total 2020 | 1,446,617 | 174,647 | 1,621,264 |
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| F | F | ||
| Staff costs | 12,000 | 12,000 | |
| Grants awarded | (note 5) | 4,382,488 | 1,365,732 |
| Interest on discounting | 68,885 | ||
| Total 2021 | 4,394,488 | 1,446,617 |
| Total | Total | |||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2021 | 2020 | |||||
| F | ||||||
| Staff costs | 16,313 | 15,204 | ||||
| Professional | fees in support of grant | programme | 72,581 | 65,691 | ||
| Administration | and | other professional | fees | 76,447 | 68,661 | |
| Sundry | costs | 2,251 | 6,501 | |||
| ITcosts | and | amortisation | 13373 | 10,490 | ||
| Auditor's | remuneration | 4,850 | 7,200 | |||
| Auditor's | non-audit | costs | 900 | 900 | ||
| 186,715 | 174,647 |
| Unrestricted | Total | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2020 | |||
| E | E | ||||
| AESOP | 95,529 | ||||
| Alzheimer's Society |
1,846,427 | 1,846,427 | 163,600 | ||
| Birmingham Botanical |
Gardens | 54,000 | 54,000 | 72,672 | |
| Bradford literature | festival | 81,756 | 81,756 | ||
| British Red Cross | 150,000 | ||||
| Cancer Research | UK | 230,062 | 230,062 | ||
| Child Brain Injury | Trust | 90,003 | 90,003 | ||
| Dame Kelly Holmes | 86,324 | 86,324 | |||
| Deaf Action | 100,000 | 100,000 | |||
| Hospice Action | 148,000 | 148,000 | |||
| FareShare | 75,000 | ||||
| Oxford Botanical | Garden | 64,660 | 64,660 | ||
| Rural Arts - Courthouse | 59,403 | ||||
| The Sanata Charitable | Trust | 250,000 | |||
| Spinal Injuries | 99,046 | 99,046 | |||
| Thrive | 100,000 | 100,000 | |||
| Tinnitus Association | 65,943 | 65,943 | |||
| TLC:Talk Listen | Change | 99,929 | 99,929 | ||
| Two Ridings - Covid 19Fund | 100,000 | ||||
| Two Ridings | 137,500 | ||||
| University of Exeter |
150,000 | 150,000 | |||
| Winston's Wish |
100,000 | 100,000 | |||
| York Arboretum | 50,000 | 50,000 | |||
| Other grants | 1,016,338 | 1,016,338 | 262,028 | ||
| Total 2021 | 4,382,488 | 4,382,488 | 1,365,732 |
| Staffcosts | |||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| E | |||||
| Wages and | salaries | 25,408 | 24,185 | ||
| Social security costs | 2,290 | 2,267 | |||
| Contribution | to defined | contribution | pension schemes | 615 | 752 |
| 28,313 | 27,204 |
| Intangible assets | |
|---|---|
| Website | |
| Cost | |
| At 1 October 2020 | 17,952 |
| At 30September 2021 | 17,952 |
| Amortisation | |
| At 1 October 2020 | 3,065 |
| Charge for the year | 3,518 |
| At 30September 2021 | 6,583 |
| Net book value | |
| At 30September 2021 | 11,369 |
| At 30September 2020 | 14,887 |
| Listed | |||
|---|---|---|---|
| investmentsf | Cash E |
Total | |
| Cost or valuation | |||
| At 1 October 2020 | 34,974,838 | 1,217,658 | 36,192,496 |
| Additions | 27,104,628 | 350,330 | 27,454,958 |
| Disposals | (11,186,417) | (102,749) | (11,289,166) |
| Revaluations | 4,740,531 | 4,740,531 | |
| At 30September 2021 | 55,633,580 | 1,465,239 | 57,098,819 |
| Net book value | |||
| At 30September 2021 | 55&633,580 | 1,465,239 | 57,098&819 |
| At 30September 2020 | 34,974,838 | 1,217,658 | 36,192,496 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| Due within | one year | ||
| Prepayments | and accrued income | 8,582,794 | 11,014 |
| 8,582,794 | 11,014 |
| 2021 E |
2020f | |||
|---|---|---|---|---|
| Grants awarded | but not yet paid | 2,503,868 | 1,587,254 | |
| Accruals and deferred | income | 53,401 | 34,735 | |
| 2,557,269 | 1,621,989 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Grants awarded | but not | yet paid | 600,401 | 625,889 | ||
| 12. | Reconciliation | ofgrants payable | ||||
| Total | Total | |||||
| funds | funds | |||||
| 2021 | 2021 | 2020 | ||||
| E | F | |||||
| Brought Forward | 2,213,143 | 2,213,143 | 2,319,688 | |||
| Grants awarded | in the year (note 4) | 4,382,488 | 4,382,488 | 1,365,732 | ||
| Grants paid or released | in the year | (3,491,362) | (3,491,362) | (1,541,162) | ||
| Interest released | on discounting | 68,885 | ||||
| Carried forward | 3,104,269 | 3,104,269 | 2,213,143 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 30 | |||||
| October | Gains/ | September | ||||
| 2020 | Income | Expenditure | (Losses) | 2021 | ||
| F | E | F | F | |||
| Unrestricted | funds | |||||
| General funds | 36,909,914 | 27,889,816 | (4,843,909) | 4,742,250 | 64,698,071 | |
| Statement of | funds - prior year | |||||
| Balance at | ||||||
| Balance at | 30 | |||||
| 1 October | Gains/ | September | ||||
| 2019 F |
Income f |
Expenditure | (Losses) | 2020 F |
||
| Unrestricted | funds | |||||
| General funds | 38,492,054 | 595,961 | (1,832,571) | (345,530) | 36,909,914 |
| 2021 | 2020 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| f. | F | ||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of | Financial | |||
| Activities) | 27,788,157 | (1,582,140) | |||||||||
| Adjustments for. |
|||||||||||
| Amortisation charges |
3,518 | 3,065 | |||||||||
| (Gains)/losses on investments |
(4,742,250) | 345,530 | |||||||||
| Dividends, interests |
and rents | from | investments | (521,498) | (595,961) | ||||||
| (Increase)/decrease | in | debtors | (8,571,780) | 1,879 | |||||||
| (Decrease) / increase |
in creditors | 909,792 | (100,214) | ||||||||
| Donated investments |
(26,092,598) | ||||||||||
| Net cash used in operating | activities | (10,226,659) | (1,927,841) |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| F | |||||
| Cash in hand | 2,162,758 | 2,939,395 | |||
| Total cash and cash | equivalents | 2,162,758 | 2,939,395 | ||
| Analysis ofchanges | in net debt | ||||
| At 1 | At 30 | ||||
| October | September | ||||
| 2020 | Cash flows | 2021f | |||
| Cash at bank and | in hand | 2,939,395 | (776,637) | 2,162,758 | |
| 2,939,395 | (776,637) | 2,162,758 |