2021-04-05-accounts - The Britford Bridge Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents			Page
Reference and administrative	details ofthe trust,	its trustees and advisors	2-3
Annual report ofthe trustees			4-7
Independent Auditor's report			8-10
Statement offinancial activities
Balance sheet			12
Statement ofcash flows			13
Notes to the financial statement			14-20

				Note	2021		2020
					Total		Total
							F
Income and endowments
Investment income
- Dividends 8 interest from investments					497,837.60		550,143.37
- Interest on cash deposits					2,485.02		14,366.44
Total income and endowments					500,322.62		564,509.81
Expenditure
Cost of raising funds
Investment management	costs				98,076.69		92,001.09
Charitable activities
Grants					740,064.00		1,040,000.00
Support costs
Administration costs					24,974.40		28,500.00
Governance costs: audit					4,110.00		4,020.00
Cost ofgrant making					769,148.40		1,072,520.00
Total expenditure					867,225.09		1,164,521.09
Gains/(losses) on investments
— realised					124,324.09	(	13,488.32)
- unrealised					7,073,980.18	(	4,221,688.28)
Net income and net movement		in funds			6,831,401.80	(	4,835,187.88)
Reconciliation of Funds
Fund balances brought
forward at 5 April 2020					22,680,123.30	27,515,311.18
Fund balances carried forward
at 5 April 2021				10	29,511,525.10	22,680,123.30
All activities of the trust relate to		continuing	operations.

			Note	2021 E	2020f
Net cash (used in) operating	activities		12	867,435.09	541,035.49
Cash flows from investing activities:
Dividends 8 interest from	investments			497,837.60	550,143.37
Interest on cash deposits				2,485.02	14,366.44
Purchase of investments				( 3,466,130.82)	( 2,016,350.28)
Proceeds from sale of investments				1,605,834.09	494,023.68
Net cash (used in) investing	activities			1,359,974.11	957,816.79
(Decrease) in cash and cash equivalents		in the year		( 2,227,409.20)	( 1,498,852.28)
Cash and cash equivalents brought forward				4,509,518.30	6,008,370.58
Cash and cash equivalents	carried forward			2,282,109.10	4,509,518.30

Charitable expenditure											2021	2020
Grants:
Primary
The prevention or relief of poverty											70,000.00	120,000.00
The advancement of education											66,000.00	95,000.00
The advancement of health		or the saving of lives									245,500.00	277,500.00
The advancement ofthe	arts, culture,					heritage	or	science			133,500.00	282,500.00
Secondary
The advancement ofcitizenship				or community			development					35,000.00
The advancement of amateur			sport								98,664.00	20,000.00
The advancement of environmental					protection		or	improvement			54,400.00	30,000.00
The relief ofthose in need,		by reason				of youth,	age, ill-health,		disability,	financial
hardship or other disadvantage											72,000.00	180,000.00
											740,064.00	1,040,000.00
Support costs
Administration costs											24,974.40	28,500.00
Governance costs —audit	fee										4,110.00	4,020.00
Total cost ofgrant making											769,148.40	1,072,520.00
											2021	2020
Grants to institutions:								Date
Aplastic Anaemia Trust								21/5/19				10,000.00
Paintings in Hospitals								21/5/19				10,000.00
Birmingham Royal Ballet								21/5/19				10,000.00
Royal Academy of Culinary		Arts
"Adopt a School" Trust								21/5/19				5,000.00
Tom's Trust								21/5/19				10,000.00
Amnesty Intl UK Trust								21/5/19				10,000.00
CRRU (Cetacean Research			& Rescue Unit)					21/5/19				20,000.00
Museum of London								21/5/19				100,000.00
Psappha Limited								24/5/19				5,000.00
Greyfriars Development	Appeal			No1				24/5/19				20,000.00
Sheffield Wildlife Trust								24/5/19				5,000.00
Polka Children's Theatre	Limited							24/5/19				5,000.00
David Shepherd Wildlife	Foundation							31/5/19				5,000.00
Care Network Cambridgeshire								31/5/19				20,000.00
Cambridge Science Centre								23/7/19				40,000.00
Boccia England Ltd								15/8/19				5,000.00
HIP Z								15/8/19				20,000.00
SmartSTEMs								15/8/19				20,000.00
School Aid								15/8/19				20,000.00
The Freya Foundation								15/8/19				5,000.00
Amalthea Trust								15/8/19				30,000.00
In Kind Direct								15/8/19				20,000.00
CHICKS (Country Holidays		for Inner			City Kids			12/12/19				5,000.00
Action for Stammering Children								12/12/19				5,000.00
West Somerset Railway	Association							12/12/19				20,000.00
Wintercomfort for the Homeless								12/12/19				15,000.00
Mary Rose Trust								12/12/19				20,000.00
5425610 1								16				Brodies

			Fo	r the year ended 5 April 2021
Grants to institutions cont'd:				Date	2021f	2020f
Euan's Guide				18/12/19		20,000.00
Diverse Abilities Plus Ltd				18/12/19		10,000.00
Grantchester Parochial Church		Council		19/12/19		25,000.00
StepChange Debt Charity				13/1/20		30,000.00
Brooke Hospital for Animals				17/1/20		25,000.00
Dementia UK				17/1/20		25,000.00
Good Shepherd Services				17/1/20		5,000.00
Ethiopiaid				17/1/20		10,000.00
Awards for Young Musicians				17/1/20		10,000.00
Goalball				17/1/20		5,000.00
Re-Cycle				17/1/20		5,000.00
John Muir Trust				17/1/20		5,000.00
Chance to Shine				27/1/20		20,000.00
Coroner's Courts Support	Service			27/1/20		150,000.00
Orchestra Of The Age Of	Enlightenment			27/1/20		37,500.00
Tall Ships Youth Trust				26/2/20		10,000.00
London Handel Society Ltd				27/1/20		50,000.00
The Egmont Trust				4/2/20		62,500.00
Addenbrooke's Charitable	Trust			27/1/20		75,000.00
Scottish Seabird Centre				29/5/20	10,000.00
Cambridge Science Centre				29/5/20	15,000.00
Medecins Sans Frontiers	(UK)			29/5/20	30,000.00
Disabled Sailors Association				1/6/20	21,000.00
Contact A Family				9/6/20	10,000.00
Papworth Trust Appeal Fund				11/06/20 8 23/11/20	17,000.00
The Alan Turing Institute				24/6/20	30,000.00
Open Hand Productions				20/7/20	25,000.00
Campaign for National Parks				7/8/20	10,000.00
Roald Dahl's Marvellous Children' s			Charity	13/8/20	30,000.00
Scottish Documentary Institute				14/8/20	16,000.00
No Gain No Pain				14/8/20	15,000.00
Level Water				21/8/20	15,000.00
Marine Conservation Society				21/8/20	20,000.00
Care Network Cambridgeshire				9/9/20	20,000.00
The Wheelchair Football Associatio			n CIO	25/9/20	12,664.00
Outward Bound Trust				15/10/20	10,000.00
The Back-Up Trust				15/10/20	10,000.00
Ecological Continuity Trust				15/10/20	20,000.00
Abandofbrothers				16/10/20	15,000.00
Mary's Meals				20/10/20	30,000.00
Peer Productions				20/10/20	5,000.00
British Disabled Angling Association				20/10/20	10,000.00
Douglas Bader Foundation				21/10/20	15,000.00
Greenfingers Charity				9/12/20	10,000.00
Derbyshire Wildlife Trust				13/1/21	3,000.00
GreenSeas Trust				14/1/21	4,400.00
Edinburgh Science				14/1/21	11,000.00
London Handel Society				14/1/21	50,000.00


	Grants to institutions		co	nt'd:				2021		2020
						Date		F		F
	Addenbrooke's	Charitable		Trust		14/1/21		75,000.00
	Cool Earth Ltd					14/1/21		30,000.00
	Orchestra ofthe	Age of	Enlightenment			15/1/21		37,500.00
	Sports Aid Trust					15/1/21		20,000.00
	The Egmont Trust					15/1/21		62,500.00
	British Epilepsy	Association				15/1/21		5,000.00
	The Cavalier Centre					5/3/21		20,000.00
								740,064.00		1,040,000.00
6	Listed investments							2021f		2020 F
	Opening market	value						18,181,435.00	20,894,285.00
	Add: Acquisitions at cost							3,466,130.82		2,016,350.28
	Less: Disposals							( 1,481,510.00)	(	507,512.00)
	Net gains on revaluation							7,073,980.18	(	4,221,688.28
	Closing market value at		5 April					27,240,036.00	18,181,435.00
	Historic Cost							22,922,763.75	20,714,524.08
	The distribution	of investments			is:
								F		E
	Private Equity						3.67%	1,000,029		750,009
	UK Equity						48.41%	13,188,645		7,945,699
	Overseas Equity						29.26%	7,969,213		7,440,294
	Multi Asset						12.17%	3,313,983		1,662,994
	Specialist						6.49%	1,768,166		382,439
							100.00%	27,240,036		18,181,435
7	Cash at bank							2021		2020
								F		E
	Balmoral WP1449729 —wrap cash							1,061,818.47		1,000,455.52
	Balmoral WP1449729 —portfolio				cash			758,974.39		530,852.62
	Balmoral WP1449729 —total cash							1,820,792.86		1,531,308.14
	Brodies LLP — Royal Bank			of Scotland - CMS13820				461,316.24		2,978,210.16
								2,282,109.10		4,509,518.30

Funds
	At 5 April	Income and				Gain on
	2019	endowments f	Expenditure		Investments f		Transfer f	At 5 April 2020 f
Unrestricted
fund	27,515,311.18	564,509.81	(	1,164,521.09)	(	4,235,176.60)		22,680,123.30
Total funds	27,515,311.18	564,509.81	(	1,164,521.09)	(	4,235,176.60)		22,680,123.30
	At 5 April	Income and				Gain on
	2020 f	endowments f	Expenditure f		Investments f		Transfer f	At 5 April 2021 f
Unrestricted
fund	22,680,123.30	500,322.62	(	867,225.09)		7,198,304.27		29,511,525.10
Total funds	22,680,123.30	500,322.62	(	867,225.09)		7,198,304.27		29,511,525.10

Reconciliati	on ofnet m	ovementsin funds to net cash flow fro	m operating activities	m operating activities
			Year to 5 April		Year to 5 April
				2021		2020
						E
Net movement in funds				6,831,401.80	(	4,835,187.88)
Investments	transferred
Dividends	and interest	from investments	(	497,837.60)	(	550,143.37)
Interest on	cash deposits		(	2,485.02)	(	14,366.44)
(Gains) Ilosses on investments			(	7,198,304.27)		4,235,176.60
Decrease I(Increase)		in debtors				750,000.00
(Decrease)	/ Increase	in creditors		210.00		126,514.40
				867,435.09	(	541,035.49

Analysis ofnet debt
				Other non-cash
	At 6 April 2020		Cash flows	changes	At 5April 2021
	E		E	E	E
Cash and cash equivalents
Cash	4,509,518.30	(	2,227,409.20)		2,282, 109.10
Borrowings
Debt due within one year
Total net debt	4,509,518.30		2,227,409.20)		2,282,109.10