2021-07-31-accounts - Hs Barlow Charitable Trust

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HS BARLOW CHARtTABLE TRUST Annual Report And Finaiieial Statements For the year ended 31 July 2021 {_ 01104n022)

HS BARLOW CHARITABLEI TRUST ANNUAL REPORT AND FINANCIAL STATEMETr4TS 2U21 CONTEINTS Page Ti'ustees i'eport Legal Adniini5ti'ative detai15 Ti'ustees, I'esponslbllltle$ staftnient Iiidependent audltor'$ repoi't Statemeiit of tinaNclal actiyitits BalAnee slieet Atcountliig pollcies Notes to the flnanelal statements

HS BARLOIV CHARITABLE TRUST TRUSTEES, REPORT 2020-21 OBJECTS AND PURPO,SE8 or i'HE I'RUST Thc 14S Barlow Cliarilable TTUSt was esiabli%lied by Tiwst T)c¢d, daied 17 Noveiiil)ei' 2014. witli tlic rollowiijg Object.. Tlic advoii¢ement ofeducalion for Ilje bejiefitot'ilie piiblic, aiid in particul'{bUtWItlloul liiiiilirtg the geiieialily of tlie foregoijigl by nieans of iiicaiis-tesicd biirsai'ies aiid %cliolaisliip% for post- gi?duate sttideiits froa)I Ilie D¢v¢lopiiig World, at Triiiity College, Cajnbridgc. aiid otlici. college5 al Caii)bi'idEe Uiiiveisity. &s well as at oilier UK iiiiiversilies regularly iii Ihe lop 10 UK universilics, rdnkings. The Devel()i)ing Woi'ld is dcfijicd in ilic Ti'ust Deed as Asia, AfTica. CenlTal aiid Soutl? Amcriu. Tl)¢ Tn15tecs Inay in tli¢ir disei'elioji, for Ilie i)eiii)d of 21 years fi1 Ihc dalc of Ilie Ti'u51 Deed, iiislead of applyiiig Ilitt in¢oDie of Ilie Cljai'ity in aiiy yL'Ji', aLCiiI)iulate dll oi. any part of siich incoine by invcsliiig (lie saiiie, and the J'esultiiig iiicoine. iii aiiy illvestinents Muil)oillsed by Ilie Tiiist Deed or by law as an acci'etioii to and as pal't of tlie capital of Ilie Cliarity. wiiliout piejodi¢e 10 dieir riglil lo apply tlie whole or ajiy pai'l of sucli accuiiiulated ijicoiiie ill any subs¢queiit yeaj. as if tlie saii)e were intoii)e of Ilie CIMiity arisijig in tlie tlien t.ellt Ye.. ORGANISATION AND MANAGEMENT OF THE TRUST Tlie Trust is a eliai'ity irgistered witli tlie Cliarity coiknini18ioii (Cliarity R¢fercnc¢ Nuniber 1161780). ie Trll%t is governed by its Tiustec& as follows. Mr Heniy Barlow, Chairman and Settlor DT Anil Seal Mi. Roi'y Landinall Mi. Stuart Robb The Trllstees have made the followllig appointnients.. Joint Exeeiitive Tiustees.. MT 14eiiiy Barlow aiid Dr ALiiI Seal Di. Anil Seal 14onoi?ry Secretary of tlie Trust.. Honoi3ry TreasuJEr of tlie Tn]st'. DJ. Nicholas Bizllsoll Recruifment lthduelloii 2nd ti'aitiln ofTrustees The oi.i8iiial tnistee5 ai"e still in pla¢e, Tn a¢¢oi'(tsnee with the Trust Deed, the powei. of api?oinliRg new Ti'ublL¥b Illa b¢ cxpected lo liave i7 or lield sct]ior positiot]s in edu¢aiioiii¢ l oi. business insiitutions, aijd ljavc an interest iii tlie adv2llccinciiI of liigliei. educatioii. iii pai-liculai- tlirough Ilie sllpi)orl of w?duate studcjils fron) tlie dcvcloping wnrld. New Tiiistees will iEccive a Lopy of Ihe Tiw.%t Deed, Uie tninutes of reccnl tiieelings of TL'U5tees. and dclails tsf ir¢cni ae¢ollllts and budgets.

HS BARLOW CHARITABLE TRUST TRUSTEI Ei S, PORT 2020-21 ACTIVITIE.% C)F I'HE fRUST DURINC 2020-21 In¢oiiie of tlit Tt'usl Followiiig Ilie donatioJi% lo tlic Ti'LisI of £355.000, £200,000, £200.000, £200,000 and £200.000 by Mi. 14enry Barlow in 2015-10, 201 (1-17. 2017-18. 2018-19 aiid 2019-20 iesp)e¢iively, a furlliei. dojialioii of £200.000 fTOIiI Mi. Henry Bai-low ivas receivcd iti Aiigusl 2021. Tlie Ti-Ll%tee5 rccurd tli¢ii' aiii)iecialioJi of Mi. Heni'y Bai'low's gencrosity, aiid uf111s pri)Ini%e to Jnake furilici. subslaiitial doiialions th ilie Trusl io tlie fi]tt]iE. Trlnlty-BAI'low Scliolarsliip5 2020 Tlie Tnistecs liavc agired tliat inilially scliolarslisps will bc unly foi. du¢toi•l eSe21'¢h (i.c. Pl) sliidenls, and tliat tl)e inain focub will be siiidcnls undejtaking J'esearch in enginccring and 111 imedityine atjd seiejice, i)ainely i)liysics. Clinistry. biology lin¢ludiiig tnvii'oiiiiiental issiies iipon wliicli Ihe5c siibj¢¢ls beai.) ai)d JiiailieJiJalics, botli applied and pui'e. aiid tl)£i1 exteplionally fuiids Jnay be niade available foi. tlie sui)i)ort of iescai'eli in law. ecoiioiiiics, aiid i'clatcd subjecis. Ti-iiiity Collcgc Ciiinbi'idBe lia% geneiY)usly agrccd to conlribult io Ilie ¢oqi tsftlie SLholarsliips awai'ded by Ilic Trusl oil a 50..50 hasi%, Iliat dgrLcnient beiiig eonfiiyned cacli ycai. by Ihe College before the $Lliolaisliips al'e offeiEd aiid coiifirtncd. As in tlie pjivious yeai., tlic'I'iiist sought non)ination$ froni Heads ofDcpai'lmcnls aiid Colleges of liighly- i?nked candidates foi. p2rt-cost iiieans-lested awai-d5. Tbc ywards were adiiiinistcred tlii'ough Ti'inity Collegc. Eight sllbstantial aw.d5 n)ade. Award-bolders callie froin Cliiiia111, India131, Iran11), Malaysia {1}, Maui'itius 111 alld Nigeria {]). Tl)eir subjects of snjdy were Engineering {2}. Laiid Econoniy (l}, Medicine121 alld PIIysic5 (31. lrt addition, iiine swdeni% eligible foi. aivards siib5eqiiently %ecured fi]11 funding froni oilier sourccs aiid wcre iMad¢ Honniary award-liuldcrs witlii)iil.%tipeiid', cach was awardcd an e.Y gialiÉT payJi)ent of £1,000. Tliese stttdcnts cainc froDI Gart)bia 111, India {2), Indonesia I l). Nepal I l), Nigeria (I I, dnd Soiitli Africa (31. Thcii subjects of sttidy wcrc Clicmiul Engineei'ing (11, Clicniistiy (21, Ellgineerillg (2), MediLal Sciencc {]), Vcta'it]ary Medicine (21, aiid Zoology11). The total cost of tile 2020 awards ov¢i' tlieil" full lengdi was shai'ed 50..50 witli Ti'iiiity College. Aftei. allowing for asniall numberof adjustniellts to previousyeaiE' awai'd8, the Ch'ge to the Tiust was £85.075 (2020.. £170.5001. PUBLIC BENEfilT Tlje TiSleeS are %ali%fied tliat the activitiLs of tlie Tnist, as dcsci'ibed in this repoit and in tlie a¢toiiipanying accoui)ts, eiitiiely for cliai-itablc puipo%e8 and fully inect tlic 'public benefsi. reguiirmcnl (kf ilit Cliaiilie% Act 2011. Tlic Trubte¢8 cortfiiii) tljai Iliey Iiavc i'efei'red lo the guidancc coiitsiiiied in Ihe Chai-lty Coinijiissioii's general guidaiice on piiblic bcni.fit. In parliciilar, by Diaking awards to sttidcJts who did noi liave tlie means to take llp tlieii. offeiE of placc5 at Caiiibridge Uiiiversity (and In duc collrse and fJ tijiic-to-tinic at othei. UK iinivei¥itics regLilai'ly in tlie toi? i'ankit]gsl, tlie TStIl#S been able lo benefit tliese students in a nianiier which will liave a significaiit and bellcficial effect on theii. futUTe lives. FINANCIAL REVIEW The net in¢oiiiiiig i'esoui'ces for tlic ycar ended 31 Jlily 2021 wei'e £111,804 (2019-20.. £26,343). Tlie Iiiii'eslricled fund% at 31 July 2021 ivere £444,59112019-20.. £332.7871. iv

HS BARLOW CHARITABLE I'RUST TRUSTEES? REPORT 2020-21 ri UTURE ourI.OOK The Trust is making furiliei. award5 5taL"liiig Oclobei. 2021, willi support from Ti'iiiity Collcge and olliei. collaborat015. The fundsavailableai-¢ siifficictjl to covei'all curicJt coii)mitn)ents. As tlic principal attivity of Ilie Trust is pioviding support for graduale 8tudeJits at CainbTidge, wlios¢ admi8sion lo the Univei%ity is conlinlling normally n()twiilJslanding the snipact of covid-19, the pandcmiG should liave no effect oil the operalions of the T1i15t or its futiire pi'ospects. GOING CONCE4 RN The Tnigtee8 %re confident that Ilie tharily lia.4 adequate fiinds and iEs()urces lo conlilliie operating fai. tlie foresceable fiituie, bcing at least 12 Tnontlis from tlic date of signing the fjnartcial statetnellts alld is well placed to manage its business i'islis siiccessfully. The Tn)st had nct liquid assets of£444,591 as at 31 July 2021 {2020.. £332,787). As the piincipal activity of the Twst is i)roviding 5UPPOlt foi giaduate sttidents at CainbJ'i<lge, whose admis%ion to the Uiiiversity i5 CO]Itinuittg normally notwiih51alldiiig tlie iinpaet of covid-19, Ihe pattdeinic sliould liave no effect on the opei?tioiis of tlie Ti'u$t. foi. tliis reason, tlie Tn]stees continue to adopt the goit]g con¢em basis in prepaiing fiJancial sta¢ements. RESERVKS POJ.ICY The Trust inteiids to i"etain as a reserve only suffi¢ient tapital to meet the following year's awaix15. It will iely oi? furtlier tran5f¢iB of funds frojii tlie Settlor to meet t]ie cast of awards in 5ub5equ¢nt years. Tlie uni'ests'icted i'e5crves at 31 July 2021 were £444,591 12020.. £332,787). Tliere no irstricted i'eseives at 31 July 2021 {2020'. £nil). RISI< MAE4AGEMENT The Trustee5 liave examined the majoT strategic, business and operational risks wliich the Ttust faces, and are satisfLed that, with tlie lE8ul.rcPQits they re¢eivc, they aLf ableto OS5ess these rtsks alld to put in ha]id on a tin)ely basis any necessaiy actions (mainly in relation to the s¢21e of tlie collaboi'alive activities of tlie Ttllst) to lessen or avoid them. A risk registEi' has been prepEd, alld will be keptunder regular review. The assets of the TTht ale sufficient to meet the commitments cujrently envisaged ftsr 2021-22. Approved alld signed on bdialf of tlie Trustees.. Date.. + AlrQ 202

HS BARLOW CHARITABLE TRUST LEI GAL AND ADM1Tr41STRATIVI D4 TAII nie I-SleeS tor Ihc period 2020-21 the tollowitig.. Mi. Heniy Barloiv, Chaiirnan af Ilie'l'iustees ai)d Settlor Di. Aiiil Scal Mr Raiy Latidinan Mr Sluai1 Robb HONOIL4R Y 1'11LASURLi R Dr Nitliolas Bini)son TRUST ADDRESS Tlie fon)ial aiid regtsteiEd postal addiEss of tlje Trust is.. HS B41"low Cliiiriliible Ti"ust clo-l'i-iiiity Coll¢gc canibi.idge CB2 ITQ LEI GAL STATUS Tlie ¢liai'ity was esiablished by a Deed of Tist dated 17 Novenibei. 2014. The t]ust is registered will) the Chw'ity Cointnission, Reference Nui)Ib. 1161780. IIANI< NaliDnal Wc.%tniinster Baiik PIC 23 Markct Street Catnbi'idgc LB2 3PA AUDITOR Deloitte LLP Statutoiy Auditor I Station Sqiiai'e CB12CJA Uiiitcd Kiiigdoi REPORT These finat]cial statei)ienls sl)ould be itad in ¢onjun¢liott with Ihe tees. ajmual i'eporl which is itjeluded within Il)ese accoujils.

HS BARLOW CHARITABLE TRUST TRUSTEES, RESyPONSIBIL11'1ES .S'I'ATEMF.NT Tlic Iriistee5 ale i'esi)on5iblc for prcpai'ing Ilie Ti'u%tccs' Aiiniial Rcpoit and the fIiian¢tal slatciiieiils in accoTdance with api)li¢able law and United Accoiinliiig Sidllddi'ds (United Iciiigdoin GcnLI-Jlly Accepted Accoiit]tllig Pi'a¢ii¢el, including FRS 102 'Tlie Fiiiancial Repui-iiiig Slandai'd applicable in tlie UK aiid Republi¢ oFII'eldnd" Tli¢ law api)licablc to cliaiilies in r.iigland lid Walts rcqllii'es Ilie tiiistces to prepai-e finaiicial slateineiits toi. eacli rinaiicial year wliieli give a tiue ajid fail. view of Ilie slate of afiairs of Ilic diarily aiid of Ilie iiicoining L'esourees aiid applicatioi) of rc50Ultes orihe cliai'ity foi. Iliat period. lii pi'epariiig these finan¢ial statements, the truste¢5 air requiird lo.. select siiitable accoiinling policLC5 and thei) apply them consistclltly., obseive tli¢ Inetliad% and pi'it)ciples in tlie Cliaritie% SORP-, Inakc jiidgnicnts and esiirtiaies that air irasonable and piudent- sl4lL wliciliei. ai)plicablc acLI)uniii)g %iand%rds liave bcet) followed siibjecl to any Imatei'ial departl.¢5 dis¢lix%ed aiid explaincd in Ilie finaiicial slatcin¢nlS' aiid pi'ei)are Ilie fjnancial siaienleiits ot) tlie goiiig concerii basi.% iiiiless it is inappix)priate to presiiii)c tliat Ilie Tlic trustee8 aiE I'espollsiblc for keeping pi.oper atcollntin¥ recoids tliat disclose with reasonable accuracy at any liime Act 201 I, Ihe Cliayily (Accoiints anil Reiioi-lq) Regiilalift1i5 20n8 and Ilie i)iavi.qions of Ilie Iriisl deed. Tliey If c?Iso respunsible for safcgiiiil-(Iing the assets of tlic cliai'ity and lien¢e for l£iking i'easonable steps for tlie picvention and detection of fiEud and othu. irregiilarities.

lihdependejit auditoi s report to tlie trustees of HS Barlow Charitable I'i'ust Rei)oi't oil the audlt of the finAiicaAI statewent5 Opinioij In our opinio&J tlie finaiicial slalenieiits of l.IS Bai-low Chai'itable Ti'u81 Itlie 'clia¥ity'l'. give a (iue and tail. view ot'thc slate of tlie cliarily'.% affasr% as al 31 July 2021 aii<l of ils incoming iEsourccs alld aiiplicalioi) of re¥our¢&8 for Ihe yeai. tl)en ended., have beell PlX)pei'ly i)iepai"ed in accordance with Uniled Kingdoin Gencially Acccptcd AccoLinling Pra¢ii¢e, incliiding Fillallcial Repoi'liiig Standai-d 102 'Tlie FiiidJi¢ial Repoj'liiig SlaiidaiY] applicabl¢ iii the UK and Republic of Ireland"; aiid have been prepaTed in a¢coirfanc¢ widi tlic C]l'it]eS Act 2011 and tjie tnist dccd. We ljave audited die tiiiat]cial stateiiieiit5 wliicli comi)ri%e.' the stateiiient of fjnaneial activities,. tlic balancc slieet. tlie accoiiiiling policies., and tl)e ielated nntes I to 7. Tlic finaiiciitl iEI)oi'liiig fTameM'ork Ihal l)ten Iipi¥licd iii Ilieir iirepai?linn 1% ai)p17cablc law an<1 Uiitie(l Kingdoi Accoiintin8 Standaiyis, inLlu(ling Financial Rei)orting Standai'd 102"Tlie Financial Rcporting Standai'd 2ppli¢able in tl)c UK and Repiiblic of IIEland" (United Krngdum Gen¢ially Accepted Accounting Plmctiee). Basls foi. opillion We condiT¢tcd our audit in aceordancc with Intcrnational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our Itsponsibililies undei. those standards are furihei. desci'ibed in the auditor's responsibilities for the audit of tlie fjnancial slatenient5 Section of our repoit. We are ijideptlldeni of the cliarity iii aecoi'danee witli tlie eiliical requirenieiit5 tliat al-e relevant lo oiii. audit of thc rinat]cial stateinellt% in tlie UK. iiiGludiiig tl)e Financial Repoitiiig Council's {thc 'FIIC's'l Etliical Standard, and we have fLilfJlled oiir oilici. ctliical I'espon5ibililies iij a¢eoi'daticc willi Iliese rtquii'eiiicnts. Wc believe Iliat il)e audit evideiicc ivc liavc obtained is suffjcicjit alld appi-opi'iate to provide a basis for oui. opijiioii. ConclJ$l(bns ielatiiig to goin% concei'n In auditing tlie fiiianLial sialemenls, we liave cojicludcd tl)at the tiusiees. use of Ihe goii)g Loijcern b8sis of aceountiiig in tlie pirparalioii of Ilie financial glaieIiieiiLg is appropriaic. Based on the work ivc Iiave pcifoimied, we liave llol idelltifthcd aiiy Inalei'ial iiiiceTtainties Iclaliiig lo evenL8 or c(Inditions Iljat, individually or colleclively, rnay C¢i&l sigiitficanl dollbi i)ii Ilie cliarity's ability til ¢Ot)linue a% a going OUY responsibilities and tlic irsponsibililies of Ilie tiiistee5 WLtII Tcbpect to going ¢otJcern are dcsci'ibed in the IElevant section5 of thi5 rei)OL%. Othei. infoJ'iiJ2tlon The otliei. infoiinatioii con)prises the information included in Ilie annual iEporl, oihei- tlian tlie fiE)ancial stateinei)t% and oui. auditoj s iepoi't tliereoii. Tlie Iste¢S ale i-espoiisible foi. tlie oiliei. iiifoi'jiiation contained wiiliirt Ilie atjnllal irporl. Our opinion on Ilie fijiajicial 5talcinciits. does not ¢ovei' tlie olliei. iiifoi'jnalion aiid we do iiot cxpirss any foi'n) of assuTat)ce cojiclusion Ilicreon.

Independent aiiditoi s repoi't to tlic tl'll5tee& ol. HS Barlow Cliaritable Trust (eontlnued) Otlici. RnforEiialioii Icontiiiiiedl are i'eqiiii'ed to rei)oi'l IlTral facl. W¢ liave naihitig to rcpoit Ihis i-¢gJrd. Responslbllllles of ti'ustees tiiiste&% dctci'niille is ttecessary to enablc the piEpaialion of financial st#t¢m¢nts that are frec fiy)Jii material niissldlcinent. wheiliei. diie to fi-aud ur eL'JDr. In pirpariiig Ilie fil11claI staleiiieiils, Ilie Iiiislee8 al'e respojisible for a&%e8sing the cl)arity's ability to conliniie as a goingT coiicern, diselosiiig, as ai)i)licable, Jnatieis related lo going cot]c.l and using the goiiig ¢on¢ei-ii ba%is or accouiitiiig unless tlie iiiistecs eitlier iiileiid to liquidaic tlie cliai'ity or to cease opcratiot]s. or Iiave i)0 realistic aliei-iialive but to do so. Auditol 5 1'espon$ll)IlltlÈs foi. the gudlt of ilie financial StatelentS We ljave bccii appointed as auditoJ- und¢r sectioji 145 of tlie Chai'itics Act 2011 and I'epori in accordanec willi Ilie Act aiid rel¢vant regulations inadc oi. liaviiig effe¢t tliertunder. iiiaterial Ini.%8tatetJicllt, wlieiliei. due to fraud oi. cii-vi., and to i%%ue an aiidilovs I'cporl Il)ai irtcliideq olli. opiiiion. Reasonablc assuyance 18 a liigli levcl of a5siirance. bul 1% not a gilalnteC Iliat an aiidil condiictcd in iicLL)I'daiice witli ISAS IUIC) will always delect a tiialerial Ini%slaleinent ivlicn it exi8L%. Missiatetnenls can ai'ise fi'oiii fiBiid 01- en-oi. dnd air consideiEd inatci-ial if, individiEally ol. in tlie aggii'egate. they coiild i'¢2sonably be expected to lllfluellce the eeonojnic dccisions of users lakcn vn Ihc basis of tliese fillancial statenienls. A fuilhei" desci'iption of our iEspoiisibilities foi. the audit af the finallcial slaleinent% ss located on the FRC'S website al.. 1V.IT¢.[ -uklaudiiorsi.es oiisibililies. Tliis d&8¢ription tonn.% pai'l of oiii. auditol 5 repoTt. Exteiit to iYlil¢h the Audit was coiisidered eap2ble of dttectliig ii'i-egulai'itie5, iiicluding frmud Iriegularilies, including fi2ud, are it)slances of noii-¢onipliance with laiirs and iegulalions. We de%igii i)ro¢edui'es iii liiie witl) our rcsponsibilitie8, Outlined abovc, lo detecl iiiatei-ial ini%statenicnls iii ¥e%i?ect of irrcgularities. iiicluding fraud. Tlic cxteiil lo wlii¢li our pi'ocedures are capabl¢ of dctcctiiig ii'rtgulai'ilies, iiicludiijg fraud is detailed below. We considcrcd tl)e na¢uie of tlje eljai'ity's iiidustiy and its control eiivironinent, and rcvicived tlie ¢liariiy's dtscuijictilalioij oftlieii. policie% aiid pi-vLedui'es ielaliii¥ to fiiud and LoniplTaiice witli laws aiid i'e¥u12L tioi?s. Wc also eiiquiird of m&iiageJiieJit aboiil Ilieii. own ideiitificdtion Jtid assessinetil of Ilie risks of ii-iegulariLie8

Independent auditoj s J'cport to the tj-ustees of HS Bal'low CIIAI-itable Trust (eoiitiiiued) fi x¢¢iit to ivhleh tlie audlt iva$ ¢oh.%ldtJ'ed cllp&blt ofdetettltig li'reglll2J.ltICs, iiicludaijg fi-Aud {coiitiiiued) We obiaiiied ali iiiideislaiidiiig of tlie legal and irgulalvry fiBittewoi-k thai Ilie chai'ity opeJ'ate8 ili, ai)d idetjlifjed tbc key laivs atid J'cgiilatiolls Ilial.. h<id J (fiirct cffcct oil Ilic (leleiM)tii2tioii of Inalei'ial aiiiauiit% ai)d disclosiiirs ill thc fillallcial stateinellts. These iiicluded'fni%t Deed, Clidriiie% Acl 2011, Cliai'ilies (Accouiils aiid Repoi'l%l Re8ulatioii% 2UO8; aiid do Jiot have a direct effect uii Ilie financial st8leTiienls bill coini)li<in¢¢ willi ivliitli tiiay be fiinddiiiLnlal lo the cliarily's ability to 01)ci'ate oi. to avoid a inaterial pcnalty. Thcsc iiiclude(I tlie Cliai'iiy Coinn)issioii. We dis¢iisse<l anioiig the audit eiigagement team i'egardii)g tlje oppoi'tuijitics aiid iiicentives that inay exibt within the A5 a result of p¢i-fori)iiiig ¢1ie abov< we identified Ilie gi'eatest potential foi. fi?ud iii tlie folloiving aieas, aiid oui- spccitie pi'occdiires pci'foi'iiied lo addie5S It are de%ci-ibed below.. Coiiii)letene&s of JEvenue. We have ii)ade Ciiqull'ies of gi'aiil incoiiie receivable and irviewed con'&%poth¢e fron) the doiioi. and tested lo details Iliat the rev¢Jiue wus ir¢eived. In coi)ll)ioii iviih all audits ulldei. ISAS IUICI, we are a150 iequired to perfoiiii spe¢ifi¢ pro¢edureb to ITspoi)d lo the risk of niaiiagciiient ovei-Jiil¢. In addi'essirtg the i'isk of fraitd Ihi'()ugh inanagciiicnt oV..1dC of coi)ti'ols, we tesled tlie ppropi'iaieiicss ofjoiiiyial eiiiries aiid oiliei'adju$linenls: a%8essed wlietlicr tlic jiidgciiieiits iiiade in niakillg acc()uniing e%tiiiiates are iiidicativc of a polcnlial bia5,' and evaluated tlie liu%ine5s ialioniile of any sigiiifieaiit li'aiisactions Ilial ai ut]iisual oi. outside tlie Jioiinal couiEe of busin&%s. In addition to Ilie above. oiii- procedure8 to respond to tlie Jisks identified iiicluded Ilie folloiving-. revieiviJi8 till1claI slatcjncjit disclosiiiES by le51ing to 5upI)ortillg docuimenlalion 10 dlsess coinplidllte willi pi'ovisions of Jrlev&nl laivs and i'egulations described as bavin(r a dii'ccl eftecl 011 Ilie fJiiaii¢ial slaienienl%' perfoiThing analytical proccdui-es tu idcnlify any unusual oi. unexpected i'elationsliips Iliat inay sjidicale i'ibks of ID#lffl'ial inissiateinei)I due lo fi'aud. enquii'in8 of Jnanagctncnt and in-liouse legal counsel con¢thming actiial and potential liligalioll and claillis, and instance% of non-coJi)pliance willi laivs and i-egLilatTons: Aiid reading Diinutes of iheeiings of ihose ehaiEed wiib govern2ncc.

Independent auditor’s report to the trustees of HS Barlow Charitable Trust (continued)

Report on other legal and regulatory requirements

Matters on which we are required to report by exception

Under the Charities (Accounts and Reports) Regulations 2008 we are required to report in respect of the following matters if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

We have nothing to report in respect of these matters.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Deloitte LLP

Statutory Auditor Cambridge, United Kingdom

5 April 2022

Deloitte LLP is eligible for appointment as auditor for the charity by virtue of its eligibility for appointment as audit of a company under section 1212 of the Companies Act 2006.

HS BARLOW CHARITABLE TRUS'r S"I'A'I'[i NT or FINANCIAL ACTIVI'I'LS Foi. tlie Yeai. ended 31 Jul), 2021 I'otal Ullresti'lcte(I fuiid$ 2021 2020 Trlote INC.I)ME FROM: DoJiatioJis 200.000 200,000 TOTAL INCOML. 200,000 200,000 F.XPENDITURL ON.. Chai'itable aetlvllies 88,196 173,657 TOTAL LXPEND11'URE 88,196 173.657 NF.T INC()ME f4OR THE YEAR AND NET r¥,11)VCi MCNT OF FUNDS 111,804 26,343 TOTAL FUIYDS broiiglit foiward at l August 332,787 306,444 TOTAL FUNDS caii'icd foiward at 31 July 444,591 332,787 All iesults are d'1Ved froni coi)tirtuii)g #ctiviti¢s. TheTC air iio recogiiisedgaiiisalld 105ses for the¢unTniorprecedillg flliancial yeaT OtlieT tIIAn as staled in tlie Siatcinellt of Fsnaiicial Aciiviiies. I'he accounting policies and Jiotcs sct out oil pages 9 to 12 foi'jn parl of these financial staicmeiits.

HS BARLOW CHARITABLE TRUST BALANCE SHELI, As at 31 July 2021 Note 2021 2020 CURRFNT ASSETS Debioi's Casli at bajjk and ill hand 200,000 247,711 200,000 135,907 447,711 33%,907 CREIDJTORS.. amounts falling due within one yeur 13,120) (3,120) NET CURiiILNT ASSETS 444,591 332,787 TOTAL ASSETS LESS CURRENT LIABILITIES 444,591 332,787 FUNDS UnL'e5ttiGtcd funds 444,591 332,787 The #¢¢ounting poli¢ies and notes set out on pages 9 to 12 foiin pgfi of th¢se fjnancial statements. These Facial slat¢inciils w¢re appioved by Ili¢ ttustee5 Oll +AV202 Signed on behalf of the tLNStees

HS BARLOW C.HARITABLE TRUST ACCOUNTING POLICIES ri oi. the Yeai. elided 31 July 2021 Tlie fiiiaTicial %laleiiieiits lifivc b¢cn prep#iEd iii aecoixlaiice witl) Ilie SlateJiJeiit ot'Recoiilliiciided Pi'actice"Accoiintiiig by Lliaj'ilics" SORP 2019 isslied in Jaiiuaiy 2019, FiIiiiiicial Rcpoi'iiiig SiaiJ(lai'in a past eventtlidt will pi'obdbly teqiilt in Ilie Iransfci. of ftinds lo a Iliiid party aiid tlie aniounl diie to settle tlie obligation can be iiieasLired or esLiiM#ted i'¢liably. Cirditors al'e noiinally i'ecognised at their settletncllt ainoullt after allowiiig for any (i'ade disCOUIlts diic.

HS BARLOW CHARITABLE TRUST ACCOUNTING POLICIEI S For the Year elided 31 Jiily 2021 Critical accouiitirig jiidgcnierits #lid Iiey $oui'c¢$ ot'esllniktioii uneej'taiiity lil the application ot. tlie Cliarily's ac¢oiiDting i)olJeie%, Ivliicli IE desti'ibed on page 9, tlie Ti'llslees are J'equiird to raeiors Ilial arc eoi)8ideiEd lo be J'clcvallt. Actiial J'csulis iiiay difter li'oin iliese esiili)as. Tlie TYu81ces do iiolcaii%idei' Ilici'c arc any ci'itical judgciiiciits. vr SOUlL¢S ofe$iinialiort uncei'iaii)ty requirijig diselosiii bey()nd Ilie accouniing polic&cs lisled above. 10

HS BARLOW CHARITABLf TRUST NOTES TO THE FINANCIAL STATEI MENTS or the Year ended 31 July 2021 DOINATIONS 2021 2020 Donations fj'om 14enry S Bai'low 200,000 200,000 CHARITABLE AcfiviTIES 2021 2020 Aivttrds 10 51udenls ljaiik cliarge Audit 85,075 170,500 37 3.120 3,120 88,196 173.657 All awai'ds 10 8ludenis weie Inade lo individuals. INFORI¥IATION REGARDING EMPLOYEES AND TRUSTEES Lmployees 'I'hC'list lias no staff (2019-20.. nonc)- Tyustees No Tistee received any remllijeration fi'om the Trnst (2019-20- none). No ttstecS receivcd payments for e¥penses12019-20: iione). Key MJinagen)¢Jit Personnel The key Inaiiagelnent perbuiinel air the Joint Executive Trustees and the Honoraiy Tieasurer. None received ally remutiei?tioii for Ilieii work12019-20.. £nill. TAXA'I'ION The HS Barlow Charitable Ti'ust is a registei'ed cliarily ond is exenipL (rom lax on income aiid cai)ital gains falling witliin C.liai)ieY 3 of Part Il lo Ilie Co]poraiion Tax Att 2010 01. Setlitsii 25Ci of Il)e Taxaiion of Capital Gai115 Act 1992 to tlie extellt tliat tjiey ait applicd to itb ¢liai-it#bl¢ objcGtives. No tax ¢liargcs Iiuvc ai'is¢11 in

HS BARLOW CIIARITABLE TRUST NOTEI S TO THE Tr'INANCIAL .STA'fiMEI NTS ri oi. tlie Yeai. ended 31 July 2021 DEBTORS 2021 2020 Donation iEeeivabl¢ froin Het]ry S Bai'loiv 200.000 200.000 All debtors 4llE dLte witliill oiie yeai.. CREDITORS 2021 2020 A¢ci-uals 3,120 3,120 RELATED I)AR'fY i'RANSAcfioNS ie donalions i'eccivablc by ilic cl)ai'ily iV.C coii)prised of£200,00012020.' £200,000) fTOI)i Heniy S Bttrlow. There were no oiliei. related party transaclions for the year ended 31 July 20211202a.' none). 12