| Contents | Page | |||
|---|---|---|---|---|
| Reference and administrative | details ofthe trust, | its trustees | and advisors | |
| Annual report of the trustees |
3-6 | |||
| Independent Auditor's report |
7-9 | |||
| Statement of financial activities |
10 | |||
| Balance sheet | ||||
| Statement ofcash flows |
||||
| Notes to the financial statement |
13-19 |
| Note | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| F | E | |||||
| Income and endowments | ||||||
| Investment income |
||||||
| - Dividends & interest from investments |
584,087.45 | 497,837.60 | ||||
| - Interest on cash deposits | 49.30 | 2,485.02 | ||||
| Total income and endowments | 584, 136.75 | 500,322.62 | ||||
| Expenditure | ||||||
| Cost of raising funds | ||||||
| Investment management |
costs | 124,318.40 | 98,076.69 | |||
| Charitabie activities |
||||||
| Grants | 943,500.00 | 740,064.00 | ||||
| Support costs | ||||||
| Administration costs |
27,014.99 | 24,974.40 | ||||
| Governance costs: audit |
5,580.00 | 4,110.00 | ||||
| Cost ofgrant making | 976,094.99 | 769,148.40 | ||||
| Total expenditure | 1,100,413.39 | 867,225.09 | ||||
| Gains on investments | ||||||
| - realised | 200,454.60 | 124,324.09 | ||||
| - unrealised | 1,131,888.92 | 7,073,980.18 | ||||
| Net income and net movement | in funds | 816,066.88 | 6,831,401.80 | |||
| Reconciliation of Funds |
||||||
| Fund balances brought | ||||||
| forward at 5 April 2021 | 29,511,525.10 | 22,680,123.30 | ||||
| Fund balances carried forward | ||||||
| at 5 April 2022 | 30,327,591.98 | 29,511,525.10 | ||||
| All activities of the trust relate to | continuing | operations. |
| Note | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| E | F | |||||
| Net cash (used in) operating | activities | 13 | 1,057,841.39 | 867,435.09 | ||
| Cash flows from investing activities: |
||||||
| Dividends & interest from |
investments | 584,087.45 | 497,837.60 | |||
| Interest on cash deposits | 49.30 | 2,485.02 | ||||
| Purchase of investments | ( 1,301,923.67) | ( | 3,466,130.82) | |||
| Proceeds from sale of investments | 2,708,302.19 | 1,605,834.09 | ||||
| Net cash provided by/(used |
in) investing | activities | 1,990,515.27 | 1,359,974.11 | ||
| Increase/(decrease) in cash |
and cash equivalents | in the year | 932,673.88 | ( | 2,227,409.20) | |
| Cash and cash equivalents brought forward |
2,282,109.10 | 4,509,518.30 | ||||
| Cash and cash equivalents | carried forward | 3,214,782.98 | 2,282,109.10 |
| For t | he | year ended | 5April 2 | 022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Charitable expenditure |
2022 | 2021 | ||||||||
| Grants: | ||||||||||
| Primary The prevention or relief of poverty |
20,000.QO | 70,000.00 | ||||||||
| The advancement of education |
115,000.00 | 66,000.00 | ||||||||
| The advancement of health or |
the saving of lives | 317,500.00 | 245,500.00 | |||||||
| The advancement of the arts, |
culture, | heritage | or | science | 310,000.00 | 133,500.00 | ||||
| Secondary | ||||||||||
| The advancement of citizenship |
or community | development | ||||||||
| The advancement ofamateur |
sport | 26,000.00 | 98,664.00 | |||||||
| The advancement of environmental |
protection | or | improvement | 20,000.00 | 54,400.00 | |||||
| The relief ofthose in need, by hardship or other disadvantage |
reason | of youth, | age, ill-health, | disability, | financial | 135,000.00 943,500.00 |
72,000.00 740,064.00 |
|||
| Support costs Administration costs |
27,014.99 | 24,974.40 | ||||||||
| Governance costs —audit fee |
5,580.00 | 4,110.00 | ||||||||
| Total cost of grant making | 976,094.99 | 769,148.40 | ||||||||
| 2022 | 2021 | |||||||||
| F | E | |||||||||
| Grants to institutions: | Payment Date |
|||||||||
| Scottish Seabird Centre | 29/5/20 | 10,000.00 | ||||||||
| Cambridge Science Centre Medecins Sans Frontiers (UK) |
29/5/20 29/5/20 |
15,000.QO 30,000.00 |
||||||||
| Disabled Sailors Association | 1/6/20 | 21,000.QQ | ||||||||
| Contact A Family | 9/6/20 | 10,000.00 | ||||||||
| Papworth Trust Appeal Fund The Alan Turing Institute |
11/06/20 8 23/11/20 24/6/20 |
17,000.00 30,000.00 |
||||||||
| Open Hand Productions Campaign for National Parks Roald Dahl's Marvellous Children's |
Charity | 20/7/20 7/8/20 13/8/20 |
25,000.00 10,Q00.00 30,000.00 |
|||||||
| Scottish Documentary Institute |
14/8/20 | 16,000.00 | ||||||||
| No Gain No Pain | 14I8/20 | 15,000.00 | ||||||||
| Level Water | 21/8/20 | 15,000.00 | ||||||||
| Marine Conservation Society |
21/8/20 | 20 QQQ 00 | ||||||||
| Care Network Cambridgeshire |
9/9/20 | 20,Q00,00 | ||||||||
| The Wheelchair Football Association |
CIO | 25I9/20 | 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 Abandofbrothers |
15/10/20 16I10/20 |
20,000.00 15,000.00 |
||||||||
| Mary's Meals | 20/10/20 | 30,Q00.00 | ||||||||
| Peer Productions | 20/10/20 | 5,000.00 | ||||||||
| British Disabled Angling Association |
20I10/20 | 10,000.00 | ||||||||
| Douglas Bader Foundation Greenfingers Charity |
21/10/20 9/12/20 |
15,000.00 10,000.00 |
||||||||
| Derbyshire Wildlife Trust GreenSeas Trust |
13/1/21 14/1/21 |
3,000.00 4,400.00 |
||||||||
| Edinburgh Science |
14/1/21 | 11,000.00 | ||||||||
| 473367 |
Brodies |
| Grants to institutions co |
nt' | d | : | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Payment Date |
E | ||||||||||
| London Handel Society |
14/1/21 | 50,000.QQ | |||||||||
| 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 | 15I1/21 | 62,500.00 | |||||||||
| British Epilepsy Association | 15/1/21 | 5,000.00 | |||||||||
| The Cavalier Centre | 5/3/21 | 20,000.00 | |||||||||
| Donation Minute agreed |
6/4/21 | ||||||||||
| Crafts Council | 19/4/21 | 15,000.00 | |||||||||
| Dame Kelly Holmes Trust | 19/4/21 | 15,000.00 | |||||||||
| Guy's 8 StThomas' Charity |
- | Evelina | London | ||||||||
| Children's Hospital Charity |
19I4/21 | 20,000.00 | |||||||||
| Helen Bamber Foundation | 19/4/21 | 10,000.00 | |||||||||
| Legs4Africa | 19I4/21 | 15,000.00 | |||||||||
| The Separated Child Foundation |
19/4/21 | 10,000.00 | |||||||||
| St Mungo Community Housing |
Assocn | Ltd | 19/4/21 | 20,000.00 | |||||||
| Queen Elizabeth Scholarship |
Trust | Ltd | 15/6/21 | 30,000.00 | |||||||
| Young Enterprise | 15/6/21 | 30,000.00 | |||||||||
| National Theatre of Scotland |
15/6/21 | 25,000.00 | |||||||||
| Morning Star Trust —E3,000 |
agreed | but | payment | not made as charity | did not | ||||||
| reply to request to provide |
bank | details | |||||||||
| Donation Minute agreed |
14/7/21 | ||||||||||
| Migrant & Asylum Seeker |
Solidarity | and | Actioi | 3/9/21 | 22,500.00 | ||||||
| Migrant 8 Asylum Seeker | Solidarity | and | Action | ||||||||
| —instalment agreed for 2023 |
Creditor | 22,500.00 | |||||||||
| UK-Med Charity | 3/9/21 | 30,000.00 | |||||||||
| The Inspire Foundation |
6/9/21 | 10,000.00 | |||||||||
| Sense International | 6I9/21 | 10,000.00 | |||||||||
| Cetacean Research 8 Rescue Unit |
6I9/21 | 10,000.00 | |||||||||
| Prior's Court Foundation | 6/9/21 | 20,Q00.00 | |||||||||
| Ballet Rambert Ltd |
6/9/21 | 10,000.00 | |||||||||
| Hansa Class UK | 6/9/21 | 10,000.00 | |||||||||
| Coach Core Foundation | 6/9/21 | 16,Q00.00 | |||||||||
| Donation agreed over 3 | years | ||||||||||
| Care Network Cambridgeshire |
6/10/21 | 20,000.00 | |||||||||
| - 3rd and final instalment | of | agreed | donation | ||||||||
| Donation Minute agreed |
30/10/21 | ||||||||||
| Tom's Trust | 16I12/21 | 30,000.00 | |||||||||
| Friends ofthe Elderly | 16/12/21 | 10,000.00 | |||||||||
| RNL I |
16/12/21 | 20,000.00 | |||||||||
| Seashell Trust | 16/12/21 | 20,000.00 | |||||||||
| Bletchley Park Trust | 24/12/21 | 20,000.00 | |||||||||
| The Mary Rose Trust | 24/12/22 | 20,000.00 | |||||||||
| Refuge Donor Account | 24/12/21 | 20,000.00 | |||||||||
| Donation /Hinute agreed |
January | 2022 | |||||||||
| London Handel Society |
3/2/22 | 50,000.00 | |||||||||
| The Egmont Trust | 3/2/22 | 62,500.00 | |||||||||
| Addenbrooke's Charitable |
Trust | 3/2/22 | 75,000.00 | ||||||||
| 0473367 1 |
6rodies |
| Grants to institutions | Grants to institutions | cont'd: | cont'd: | 2022 | 2021 | |||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Donation Minute agreed 5/1/22 |
||||||||
| Vision Aid Overseas | 16/2/22 | 10,000.00 | ||||||
| Museum of London |
16/2/22 | 150,000.00 | ||||||
| Young Women's Trust |
16/2/22 | 20,000.0Q | ||||||
| Impact Foundation | 16/2/22 | 5,000.00 | ||||||
| Greenfingers Charity |
16/2/22 | 10,000.00 | ||||||
| The Children's Trust |
16/2/22 | 10,000.00 | ||||||
| The Children's Trust |
—instalment | 2023 | Creditor | 10,000.00 | ||||
| The Children's Trust |
- instalment | 2024 | Creditor | 10,000.00 | ||||
| Kilmartin Museum Company |
Ltd | 25/2/22 | 20,000.00 | |||||
| 943,500.00 | 740,064.00 | |||||||
| Listed investments | 2022 | 2021 | ||||||
| F | ||||||||
| Opening market value Add: Acquisitions at cost Less: Disposals Net gains on revaluation |
27,240,036.00 1,301,923.67 ( 2,507,847.59) 1,131,888.92 |
18,181,435.00 3,466,130.82 ( 1,481,510.00) 7,073,980.18 |
||||||
| Closing market value | at | 5 April | 27,166,001.00 | 27,240,036.00 | ||||
| Historic Cost | 22,327,431.64 | 22,922,763.75 | ||||||
| The distribution of investments |
is: | |||||||
| F | ||||||||
| Private Equity |
5.57'/0 | 1,511,76Q | 1,000,029 | |||||
| UK Equity Overseas Equity |
48.91% 31.70'/0 |
13,287,49Q 8,612,962 |
13,188,645 7,969,213 |
|||||
| Multi Asset | 7.37% | 2,002,254 | 3,313,983 | |||||
| Specialist | 6.45'/o | 1,751,535 | 1,768,166 | |||||
| 100.00'/0 | 27,166,001 | 27,240,036 | ||||||
| Cash at bank | 2022 | 2021 | ||||||
| P | ||||||||
| Balmoral WP1449729 —wrap | cash | 471,151.86 | 1,061,81847 | |||||
| Balmoral WP1449729- | portfolio | cash | 2,717,309.34 | 758,974.39 | ||||
| Balmoral WP1449729 —total | cash | 3,188,461.20 | 1,820,792.86 | |||||
| Brodies LLP - cash held | 24,700.99 | |||||||
| Brodies LLP - Royal | Bank of | Scotland - CMS13820 | 1,620.79 | 461,316.24 | ||||
| 3,214,782.98 | 2,282,109.10 |
| Funds | |||||||
|---|---|---|---|---|---|---|---|
| At 5April | Income and | Gain on | |||||
| 2020 f |
endowments | Expenditure f |
Investments | Transfer | 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 | ||
| At 5 April | Income and | Gain on | |||||
| 2021 f |
endowments f |
Expenditure | Investments f |
Transfer f |
At 5April 2022 f |
||
| Unrestricted | |||||||
| fund | 29,511,525.10 | 584,136.75 | ( | 1,100,413.39) | 1,332,343.52 | 30,327,591 98 | |
| Total funds | 29,511,525.10 | 584,136.75 | 1,100,413.39 | 1,332,343.52 | 30,327,591.98 |
| 1) | Reconciliation ofnet m |
ovements in funds t |
o net cash flow from o | perating activities |
||||
|---|---|---|---|---|---|---|---|---|
| Year to 5 April | Year to 5April | |||||||
| 2022f | 2021 | |||||||
| Net movement in funds |
816,066.88 | 6,831,401.80 | ||||||
| Dividends and interest |
from investments | ( | 584,087.45) | ( | 497,837.60) | |||
| Interest on cash deposits | ( | 49.30) | ( | 2,485.02) | ||||
| (Gains) Ilosses on investments | ( | 1,332,34352) | ( | 7,198,304.27) | ||||
| Decrease I(Increase) | in debtors | |||||||
| Increase I(Decrease) | in creditors | 42,572.00 | 210.00) | |||||
| 1,057,841.39 | 867,435.09 | |||||||
| 2) | Analysis ofnet debt | |||||||
| Other non-cash | ||||||||
| At 6 April 2021 | Cash flows | changes | At | 5April 2022 | ||||
| F | L | |||||||
| Cash and cash equivalents | ||||||||
| Cash | 2,282,109.10 | 932,673.88 | 3,214,782 98 | |||||
| Borrowings | ||||||||
| Debt due within one year | ||||||||
| Tota I net debt |
2,282,109.10 | 932,673.88 | 3,214,782.98 |