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2021-12-31-accounts
|
Page |
| Statementoftrustees'responsibilities |
1 |
| Trustees'report |
2-8 |
| Independentauditor'sreport |
9-12 |
| Statementoffinancialactivities |
13 |
| Balancesheet |
14 |
| Statementofcashflows |
15 |
| Notestothefinancialstatements |
16-29 |
18 May 2022
12 July 2022
|
|
Unrestricted |
Unrestricted |
|
|
funds |
funds |
|
|
2021 |
2020 |
|
Notes |
£ |
£ |
| Incomefrom: |
|
|
|
| Donationsandlegacies |
2 |
7,736,849 |
4,169,978 |
| Investments |
3 |
674,711 |
366,862 |
| Totalincome |
|
8,411,560 |
4,536,840 |
| Expenditureon: |
|
|
|
| Expenditureoncharitableactivities |
4 |
6,066,094 |
8,930,438 |
| Investmentmanagers'fees |
8 |
178,115 |
131,913 |
| Totalexpenditure |
|
6,244,209 |
9,062,351 |
| Netgainsoninvestments |
9 |
2,998,995 |
362,950 |
| Netmovementinfunds |
|
5,166,346 |
(4,162,561) |
| Fundbalancesat1January2021 |
|
44,866,304 |
49,028,865 |
| Fundbalancesat31December2021 |
|
50,032,650 |
44,866,304 |
18 May 2022
|
|
|
2021 |
|
2020 |
|
Notes |
£ |
£ |
£ |
£ |
| Cashflowsfromoperatingactivities |
|
|
|
|
|
| Cashusedinoperations |
16 |
|
(1,485,280) |
|
(8,352,866) |
| Investingactivities |
|
|
|
|
|
| Proceedsondisposalofinvestment |
|
|
|
|
|
| property |
|
1,846,634 |
|
|
|
| Purchaseofotherfixedassetinvestments |
|
(9,474,214) |
|
(17,684,529) |
|
| Purchaseofsocialinvestments |
|
(6,234,428) |
|
(1,867,187) |
|
| Proceedsondisposalofotherinvestments |
|
9,390,382 |
|
24,509,339 |
|
| Proceedsondisposalofsocialinvestments |
|
4,943,749 |
|
2,651,207 |
|
| Investmentincome |
|
674,711 |
|
366,862 |
|
| Netcashgeneratedfrominvesting |
|
|
|
|
|
| activities |
|
|
1,146,834 |
|
7,975,692 |
| Netcashusedinfinancingactivities |
|
|
|
|
|
| Netdecreaseincashandcashequivalents |
|
|
(338,446) |
|
(377,174) |
| Cashandcashequivalentsat1January |
|
|
2,831,101 |
|
3,208,275 |
| Cashandcashequivalentsat31December |
|
|
2,492,655 |
|
2,831,101 |
| Relatingto: |
|
|
|
|
|
| Cashatbankandinhand |
|
|
1,475,122 |
|
1,930,994 |
| Shorttermdepositsincludedincurrent |
|
|
|
|
|
| assetinvestments |
|
|
1,017,533 |
|
900,107 |
|
|
|
2,492,655 |
|
2,831,101 |
|
Unrestricted |
Unrestricted |
|
funds |
funds |
|
2021 |
2020 |
|
£ |
£ |
| Donationsandgifts |
7,736,849 |
4,169,978 |
|
Unrestricted |
Unrestricted |
|
funds |
funds |
|
2021 |
2020 |
|
£ |
£ |
| UKequities |
504,404 |
269,596 |
| Overseasequities |
|
60,111 |
| Socialinvestments |
168,641 |
35,673 |
| Interestreceivable |
1,666 |
1,482 |
|
674,711 |
366,862 |
|
|
Governance |
Total |
Total |
|
|
costs |
|
|
|
2021 |
2021 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Staffwages |
273,821 |
|
273,821 |
275,523 |
| Staffsocialsecurity |
25,386 |
|
25,386 |
28,083 |
| Staffpensioncosts |
13,802 |
|
13,802 |
13,131 |
| Staffdevelopment |
11,200 |
|
11,200 |
6,487 |
| Travelexpenses |
24,775 |
|
24,775 |
14,619 |
| Rentandofficecosts |
38,750 |
|
38,750 |
39,494 |
| ITcosts |
51,300 |
|
51,300 |
7,112 |
| Portfolioconsultancy |
|
|
|
13,557 |
| Grantadministration |
34,844 |
|
34,844 |
4,758 |
| Consultancy |
327,541 |
|
327,541 |
175,108 |
| Netexchangelossesoncurrency |
60,300 |
|
60,300 |
62,314 |
| Impairmentofsocialinvestments |
- |
|
|
381,710 |
| Bankcharges |
1,471 |
|
1,471 |
763 |
| Trustees'expenses |
|
- |
|
569 |
| Auditors'remuneration |
|
9,780 |
9,780 |
12,000 |
| Accountancycosts |
|
26,014 |
26,014 |
23,652 |
| HRpayrollandtaxcosts |
|
8,982 |
8,982 |
7,332 |
| Legalexpenses |
- |
16,948 |
16,948 |
37,370 |
| Lossondisposal |
3,366 |
|
3,366 |
|
| Reversalofimpairmentlosses |
(16,300) |
|
(16,300) |
|
|
850,256 |
61,724 |
911,980 |
1,103,432 |
| Grantfundingofactivities(seenote5) |
5,154,114 |
- |
5,154,114 |
7,827,006 |
|
6,004,370 |
61,724 |
6,066,094 |
8,930,438 |
|
2021 |
2020 |
|
£ |
£ |
| Grantstoinstitutions: |
|
|
| 1001Fontaines |
775,310 |
572,225 |
| 3BL |
10,895 |
|
| AerosanSustainableSanitationNepal |
14,524 |
92,900 |
| Aguaconsult |
- |
11,700 |
| ATECSales&Marketing |
87,736 |
- |
| Beat |
144,627 |
291,902 |
| BipolarUK |
55,000 |
|
| BirminghamMind |
92,432 |
92,432 |
| 5 |
Grantspayable |
(Continued) |
(Continued) |
|
CellarTrust |
115,000 |
80,000 |
|
CleanTeam |
165,120 |
253,880 |
|
ContainerBasedSanitationAlliance |
14,000 |
46,482 |
|
CoronavirusMentalHealthResponse |
|
100,000 |
|
DalbergGlobal |
|
13,589 |
|
Delvic |
|
17,552 |
|
DrinkwellBangladesh |
50,000 |
50,000 |
|
EauetVieBangladesh |
43,217 |
92,229 |
|
EmpireFightingChance |
100,000 |
50,000 |
|
EverflowAfrica |
|
10,004 |
|
EvidenceAction |
|
396,030 |
|
FactorE |
|
787,116 |
|
Gret |
277,873 |
55,965 |
|
HillsideClubhouse |
134,000 |
134,000 |
|
HydrologicSocialEnterprise |
|
15,873 |
|
IDE |
|
404,033 |
|
ImpetusPEF |
200,000 |
200,000 |
|
IntoUniversity |
100,000 |
100,000 |
|
iSEA |
158,587 |
|
|
KWSH |
7,108 |
|
|
Leapconfrontingconflict |
150,000 |
150,000 |
|
LongfordTrust |
20,000 |
20,000 |
|
Loowatt |
50,000 |
50,000 |
|
MentalHealthInnovations |
250,000 |
330,000 |
|
MosaicClubhouse |
136,830 |
162,990 |
|
NationalMind |
|
200,000 |
|
NumaWater |
|
116,314 |
|
OCA |
19,802 |
|
|
OnPurposeCareers |
50,000 |
50,000 |
|
OperoKenya |
100,000 |
|
|
OshunSenegal |
|
94,657 |
|
OxfordshireMind |
|
112,780 |
|
Place2Be |
104,489 |
|
|
PositiveFutures |
|
60,000 |
|
PSI |
57,317 |
|
|
Redthread |
150,000 |
150,000 |
|
Rethink |
111,039 |
114,702 |
|
SafeWaterNetwork |
394,039 |
590,369 |
|
SafiSana |
224,618 |
309,518 |
|
Samaritans |
|
80,000 |
|
SandONE |
2,800 |
|
|
Sanergy |
436,751 |
401,056 |
|
ShishMalhotra |
5,000 |
13,100 |
|
Sport4Life |
65,000 |
65,000 |
|
TheListeningPlace |
80,000 |
|
|
TheMix |
|
100,000 |
|
TutorTrust |
110,000 |
110,000 |
|
TutorsUnited |
|
45,000 |
|
Watershed |
|
170,608 |
|
WheelsProject |
56,000 |
25,000 |
| 5 |
Grantspayable |
|
(Continued) |
|
WSUP |
|
375,000 |
|
YouthMoves |
35,000 |
63,000 |
|
|
5,154,114 |
7,827,006 |
| Theaveragemonthlynumberofemployeesduring |
theyearwas: |
|
|
2021 |
2020 |
|
Number |
Number |
|
5 |
5 |
| Employmentcosts |
2021 |
2020 |
|
£ |
£ |
| Wagesandsalaries |
273,822 |
275,523 |
| Socialsecuritycosts |
25,386 |
27,933 |
| Otherpensioncosts |
13,802 |
13,131 |
|
313,010 |
316,587 |
|
Unrestricted |
Unrestricted |
|
funds |
funds |
|
2021 |
2020 |
|
£ |
£ |
| Investmentmanagers'fees |
178,115 |
131,913 |
|
178,115 |
131,913 |
|
Unrestricted |
Unrestricted |
|
funds |
funds |
|
2021 |
2020 |
|
£ |
£ |
| Unrealisedgain/(loss)onrevaluationofinvestments |
3,055,131 |
(469,595) |
| Realised(loss)/gainonsaleofinvestments |
(56,136) |
832,545 |
|
2,998,995 |
362,950 |
|
Listedand |
Cashin |
Total |
|
unlisted |
portfolio |
|
|
investments |
|
|
|
£ |
|
£ |
| Costorvaluation |
|
|
|
| At1January2021 |
32,192,464 |
900,107 |
33,092,571 |
| Additions |
9,474,214 |
|
9,474,214 |
| Valuationchanges |
1,916,677 |
- |
1,916,677 |
| Cashchanges |
(325) |
117,426 |
117,101 |
| Disposals |
(9,446,518) |
- |
(9,446,518) |
| At31December2021 |
34,136,512 |
1,017,533 |
35,154,045 |
| Carryingamount |
|
|
|
| At31December2021 |
34,136,512 |
1,017,533 |
35,154,045 |
| At31December2020 |
32,192,464 |
900,107 |
33,092,571 |
| 10 |
Fixedassetinvestments |
|
(Continued) |
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Investmentscomprise: |
|
|
|
ListedonUKstockexchange |
4,351,133 |
3,363,185 |
|
Listedonoverseasstockexchanges |
14,825,672 |
14,771,555 |
|
Giltsandfixedinterest |
8,004,467 |
6,414,298 |
|
Propertyfunds |
32,847 |
66,336 |
|
UnlistedUKequities |
5,996,101 |
6,522,338 |
|
Equitymanagedfunds |
926,292 |
761,611 |
|
Commodities |
|
293,141 |
|
|
34,136,512 |
32,192,464 |
| SwayVenturesAccelerateAITVLP |
3,463,978 |
| JJ&PBlevinFranks |
5,996,101 |
| NanoDimensionII,L.P. |
2,320,926 |
| EquatorICAVUKSovereignBond |
4,689,041 |
| Programmerelatedinvestments |
|
|
|
2021 |
2020 |
|
£ |
£ |
| At1January2021 |
8,705,393 |
3,948,950 |
| Additions |
6,234,428 |
6,281,686 |
| Disposals |
(3,421,515) |
(1,143,533) |
| Impairments |
16,300 |
(381,710) |
| At31December2021 |
11,385,136 |
8,705,393 |
| Mixedmotiveinvestments |
|
|
|
2021 |
2020 |
|
£ |
£ |
| At1January2021 |
1,779,802 |
3,713,072 |
| Movementinfairvalue |
(4,842) |
(41,363) |
| Disposals |
(1,522,236) |
(1,891,907) |
| At31December2021 |
252,726 |
1,779,802 |
Socialinvestments,consistingofprogrammerel
follows: |
atedandmixedmotive,canbefurtherbrok |
endownas |
|
2021 |
2020 |
|
£ |
£ |
| Loans |
2,455,107 |
2,404,689 |
| UKequities |
252,726 |
318,444 |
| Overseasequities |
2,384,207 |
1,604,107 |
| OEICandunittrust |
|
1,461,358 |
| Fixeddeposits |
6,545,822 |
4,696,597 |
|
11,637,862 |
10,485,195 |
| 12 |
Debtors |
|
|
|
|
2021 |
2020 |
|
Amountsfallingduewithinoneyear: |
£ |
£ |
|
Otherdebtors |
8,828 |
440,391 |
|
Prepaymentsandaccruedincome |
1,926,068 |
172,113 |
|
|
1,934,896 |
612,504 |
| 13 |
Creditors:amountsfallingduewithinoneyear |
|
|
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Othertaxationandsocialsecurity |
32,582 |
|
|
Tradecreditors |
1,619 |
6,219 |
|
Othercreditors |
|
1,143,589 |
|
Accrualsanddeferredincome |
135,074 |
105,152 |
|
|
169,275 |
1,254,960 |
| 16 |
Cashgeneratedfromoperations |
2021 |
2020 |
|
|
£ |
£ |
|
Surplus/(deficit)fortheyear |
5,166,346 |
(4,162,561) |
|
Adjustmentsfor: |
|
|
|
Investmentincomerecognisedinstatementoffinancialactivities |
(674,711) |
(366,862) |
|
Foreignexchangedifferences |
149,470 |
|
|
Lossondisposaloftangiblefixedassets |
3,366 |
|
|
Loss/(gain)ondisposalofinvestments |
56,136 |
(832,545) |
|
Fairvaluegainsandlossesoninvestments |
(1,911,510) |
469,595 |
|
Giftofinvestments |
(1,850,000) |
(3,733,778) |
|
Impairmentofinvestments |
(16,300) |
381,710 |
|
Movementsinworkingcapital: |
|
|
|
(Increase)indebtors |
(1,322,392) |
(70,596) |
|
(Decrease)increditors |
(1,085,685) |
(37,829) |
|
Cashusedbyoperations |
(1,485,280) |
(8,352,866) |