2021-09-30-accounts

			Page
Reference and Administrative		Details ofthe Charity, its Trustees and Advisers
Trustees' Report			2-4
Independent Auditor's	Report	on the Financial Statements	5-8
Statement of Financial	Activities
Balance Sheet			10
Notes to the Financial	Statements		11-23

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS	REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITSTRUSTEES AND ADVISERS
FOR THE YEAR ENDED		30SEPTEMBER		2021
Trustees		Lord Beaverbrook,			Chairman
		Lady Beaverbrook
		The Hon Mr M Aitken
		The Hon Mrs L		Levi
		MrJEA Kidd
		The Hon Mr A	RAitken
		The Hon Ms CAitken
Charity registered
number		1153470
Principal oNce		19Crown Passage
		London
		SW1Y6PP
Chief executive		Miss JSFord
Independent	auditor	MHA Maclntyre		Hudson
		Chartered Accountants
		2 London Wall	Place
		London
		EC2Y 5AU
Bankers		C Hoare8 Co
		London
		EC4R4TT
		CAF Bank
		West Mailing
		Kent
		ME194JQ
Solicitors		Fieldfisher LLP
		Riverbank House
		2 Swan Lane
		London
		EC4R 3TT
Custodians		Canaccord Genuity
		41 Lothbury
		London
		EC2R 7AE
Investment	Managers	Whitley Asset Management
		116Princedale	Road
		Notting Hill
		London
		W11 4NH

			Unrestricted	Total	Total
			funds	funds	funds
			2021	2021	2020
		Note	F	f.
Income from:
Investments			76,212	76,212	78,215
Total income			76,212	76,212	78,215
Expenditure on:
Investment management	costs		81,709	81,709	81,976
Charitable activities		4,5,8	495,839	495,839	466,623
Other expenditure -depreciation			44,852	44,852	3,723
Total expenditure			622,400	622,400	552,322
Net expenditure before	net gains on investments		(546,188)	(546,188)	(474,107)
Net gains on investments			1,875,481	1,875,481	996,313
Net movement in funds			1,329,293	1,329,293	522,206
Reconciliation offunds:
Total funds brought forward			13,856,982	13,856,982	13,334,776
Net movement in funds			1,329,293	1,329,293	522,206
Total funds carried forward			15,186,275	15,186,275	13,856,982

		Note		2021f		2020
Fixed assets
Tangible assets		10		4,280,172		2,432,818
Investments		11		12,044,673		11,193,16?
				16,324,845		13,625,985
Current assets
Debtors		12	36,000		36,000
Cash at bank and	in hand		198,456		198,997
			234,456		234,997
Creditors: amounts	falling due within one
year		13	(41,000)		(4,000)
Net current assets				193,456		230,997
Creditors: amounts	falling due after more
than one year		14		(1,332,026)
Total net assets				15,186,275		13,856,982
Charity funds
Restricted funds		15
Unrestricted funds		15		15,186,275		13,856,982
Total funds				15,186,275		13,856,982

		Unrestricted	Total
		funds	funds
		2021	2021
Rental income		7,868	7,868
Dividends	receivable	68,320	68,320
Interest receivable		24	24
		76,212	76,212
		Unrestricted	Total
		funds	funds
		2020	2020
Dividends	receivable	72,880	72,880
Interest receivable		5,335	5,335
		78,215	78,215
Analysis	ofgrants
		Grants to	Total
		Institutions	funds
		2021 K	2021f
Grants payable		291,903	291,903
		Grants to	Total
		Institutions	funds
		2020	2020
Grants payable		294,800	294,800

The Charity has made the following material grants to	institutions during the year:
	2021	2020
	E
Name ofrecipient
English National Ballet	20,000	23,500
Charlotte's BAG	7,500	10,500
RAF Museum, Hendon	25,000	25,000
PDSA		1,000
Northwood House	1,750	41,000
World Horse Welfare	5,000	2,100
BASMOM	500	11,000
Place 2Be	25,000	25,000
Billy Fiske Foundation	25,000	25,000
Cardinal Hume Centre	10,000	10,000
Restart		15,000
Royal Brompton Hospital		5,000
Beaulieu House		5,500
Bristol Music Trust	16,000
London Screen Academy	40,000
T21	12,000
	187,750	199,600
Other grants (under f5,000)	104,153	95,200
	291,903	294,800

unrestricted	Total
funds	funds
2020	2020
466,623	466,623

		Unrestricted	Total
		funds	funds
		2021	2021
Archiving costs		26,233	26,233
Legal costs		9,103	9,'l03
Audit and accountancy		6,712	6,712
Printing, stationery	and other office costs	32,199	32,199
Rent		2,596	2,596
Insurance		12,112	12,112
Trustees' expenses		2,403	2,403
Mortgage interest		36,146	36,146
Bank charges		537	537
Total 2021		128041	128,041

						Unrestricted	Total
						funds	funds
						2020	2020
Archiving	costs					33,691	33,691
Legal costs						7,652	7,652
Audit and	accountancy					6,332	6,332
Printing, stationery		and	other	office costs		7,161	7,161
Rent						42,550	42,550
Insurance						3,301	3,301
Trustees'	expenses					56	56
Bank charges						238	238
Total 2020						100,981	100,981
Auditor's	remuneration		and	governance costs
						2021	2020
						K
Fees payable to the Charity's				auditor for the audit ofthe Charity's	annual
accounts						5,400	5,260

			2021	2020
Wages and	salaries		67,663	62,307
Social security costs			4,093	2,933
Contribution	to defined contribution	pension schemes	3,000	3,000
Private health insurance			2,703	2,602
			77,459	70,842

2021	2020
No.	No.

2021	2020
No.	No.

	Heritage	Freehold	Office
	assets	property	equipment	Total
	K		E
Cost or valuation
At 1 October 2020	2,421,650		17,185	2,438,835
Additions		2,102,992	3,604	2,106,596
Revaluations	(214,390)			(214,390)
At 30September 2021	2,207,260	2,102,992	20,789	4,331,041
Depreciation
At 1 October 2020			6,017	6,017
Charge forthe year		42,060	2,792	44,852
At 30September 2021		42,060	8,809	50,869
Net book value
At 30September 2021	2,207,260	2,060,932	11,980	4,280,172
At30September 2020	2,421,650		11,168	2,432,818

	Listed
	investmentsf
Cost or valuation
At 1 October 2020	11,193,167
Additions	640,283
Disposals	(770,000)
Revaluations	981,223
At 30September 2021	12,044,673
Net book value
At 30September 2021	12,044,673
At30September 2020	11,193,167

	2021f	2020f
Due after more than one year
Other debtors	36,000	36,000
	36,000	36,000

13.	Creditors: Amounts	falling due within one year
			2021f	2020
	Bank loans		37,000
	Accruals and deferred	income	4,000	4,000
			41,000	4,000

Statement o	ffunds - prior y	ear
							Balance at
		Balance at					30
		1October				Gains/	September
		2019f	Income f	Expenditun.	f	(Losses)f	2020
Unrestricted	funds
General Funds - all funds		13,334,776	78,215	(552,322)		996,313	13,856,982

						Balance at
		Balance at 1				30
		October			Gains/	September
		2020	Income	Expenditure	(Losses)	2021
		E	E		E	E
General	funds	13,856,982	76,212	(622,400)	1,875,481	15,186,275

							Balance at
		Balance at					30
		1October				Gainsr	September
		2019f	Income f	Expenditure	f	(Losses)	2020
General	funds	13,334,776	78,215	(552,322)		996,313	13,856,982

Analysis ofnet assets between funds - current year
	Unrestricted	Total
	funds	funds
	2021	2021
		K
Tangible fixed assets	4,280,172	4,280,172
Fixed asset investments	12,044,673	12,044,673
Debtors due after more than one year	36,000	36,000
Current assets	198,456	198,456
Creditors due within one year	(41,000)	(41,000)
Creditors due in more than one year	(1,332,026)	(1&332,026)
Total	15,186,275	15,186„275

Analysis ofnet assets between funds - prior year
	Unrestricted	Total
	funds	funds
	2020	2020
Tangible fixed assets	2,432,818	2,432,818
Fixed asset investments	11,193,167	11,193,167
Debtors due after more than one year	36,000	36,000
Current assets	198,997	198,997
Creditors due within one year	(4,000)	(4,000)
Total	13,856,982	13,856,982