|||Page|
|---|---|---|
|Reference and Administrative<br>Details|||
|Report ofthe|Trustees|2to 5|
|Report ofthe|Independent<br>Auditors|6to9|
|Consolidated|Statement ofFinancial Activities|10|
|Consolidated|Statement of Financial Position|11to 12|
|Charity Statement of Financial Position||13to 14|
|Consolidated|Statement ofCash Flows|15|
|Notes to the|Consolidated<br>Statement of Cash Flows|16|
|Notes to the|Financial Statements|17to 31|
|Consolidated|Detailed Statement of Financial|32to 33|
|Activities|||





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||||Year Ended|Year Ended|Year Ended|
|---|---|---|---|---|---|
||||31.12.21|31.12.21|31.12.20|
||||Unrestricted|Total funds|Total funds|
||||funds|||
|||Notes||||
|INCOME AND ENDOWMENTS|FROM|||||
|Donations<br>and legacies|||2,312,656|2,312,656|14,790,889|
|Investment<br>income|||5,531,735|5,531,735|6,241,997|
|Trading income|||402 491|~402491|~125684|
|Total|||8,246,882|8,246,882|21,158,570|
|EXPENDITURE ON||||||
|Raising funds|||611,625|611,625|374,945|
|Charitable<br>activities||||||
|Direct charitable<br>expenditure|||750,511|750,511|75,174|
|Other resources expended<br>Governance<br>costs|||541,769<br>9886|541,769<br>~9886|133,878<br>~9862|
||||1,913,791|1,913,791|93,859|
|Tax|||4 583|4 583|~11970|
|Total|||1,909,208|1,909,208|581,889|
|NET INCOME||||67337,629|20 SZ6jt81|
|RECONCILIATION<br>OF FUNDS||||||
|Total funds brought forward|||40,926,719|40,926,719|20,350,038|
|Owners ofparent<br>Non-controlling<br>interests||22|6,480,411<br>~142737|674807411<br>~343737|20 587712<br> ~33033|
||||6,337,674|6,337,674|20,576,681|
|Issue ofshare capital||22|839|839||
|TOTAL FUNDS CARRIED FORWARD|||47 265|~X65232|40.926219|





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## 

|||2021|2021|2020|
|---|---|---|---|---|
|||Unrestricted|Totalfunds|Totalfunds|
|||funds|||
||Notes|E|||
|FIXEDASSETS|||||
|Tangible assets<br>Heritage assets|14<br>15|10,501,315<br>~167250|10,501,315<br>~167250|5,586,790<br>132510|
|||10,668,565|10,668,565|5,719,300|
|CURRENT ASSETS|||||
|Social Investments|17|3,028,000|3,028,000||
|Debtors|18|163476770|1694763770|16972 348|
|Cash at bank||19 838921|19838911|20 225 909|
|||39,343,691|39,343,691|37,198,257|
|CREDITORS|||||
|Amounts<br>falling due within one year|19|~2747 024)|~2747 024|~1988620|
|NET CURRENT ASSETS||36596667|36596667|35209637|
|TOTAL ASSETS LESSCURRENT LIABILITIES||47,265,232|47,265,232|40,928.937|
|PROVISIONS FOR LIABILITIES|20|||2 218|
|NET ASSETS||47~25 232|47265 232|40926,719|





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|||||2021|2020|
|---|---|---|---|---|---|
|||||Unrestricted|Total funds|
|||||funds||
||||Notes|E||
|FUNDS||||||
|Unrestricted|funds||21|47,393,639|40,913,228|
|Non-controlling||interests|22|(128,407)|13,491|
|TOTAL FUNDS||||47,266,232|40,926,719|





## 

## 

|||2021|2020|
|---|---|---|---|
|||Unrestricted|Total funds|
|||funds||
||Notes|E||
|FIXEDASSETS||||
|Tangible assets|14|8,593,439|5,575,117|
|Heritage assets|15|167,250|132,510|
|Investments|16|211,158|209,308|
|||8,971,847|5,916,935|
|CURRENTASSETS||||
|Social Investments|17|3,028,000||
|Debtors|18|18,324,028|16,938,902|
|Cash at bank||19,777,720|20,052,267|
|||41,129,748|36,991,169|
|CREDITORS||||
|Amounts<br>falling due within one year|19|(2,091,476)|(1,906,992)|
|NET CURRENT ASSETS||39,038,272|35,084,177|
|TOTAL ASSETSLESS CURRENT LIABILITIES||48,010,119|41,001,112|
|NETASSETS||48,010,119|41,001,112|





## 

## 

|||1021|2020|
|---|---|---|---|
|||Unrestricted|Total funds|
|||funds||
|||E|E|
|FUNDS||||
|Unrestricted|funds|001D119|.D01,112|
|TOTALFUNDS||48,010,119|41,001,112|
|Charitnet|incomefortheyear|7,009,007|20,606,988|





|||||Year Ended|YearEnded|
|---|---|---|---|---|---|
|||||31.12.21|31.12.20|
||||Notes|E|E|
|Cash flows from operating|activities:|||||
|Cash generated<br>from operations||||7,695,397|10,727,210|
|Net cash provided<br>by (used in) operating<br>activities||||7,695'397|10,727,210|
|Cash flows from investing|activities:|||||
|Purchase offixed assets||||(8,083,224)|(4,802,559)|
|Disposal offixed assets|||||256,800|
|Net cash provided<br>by (used in) investing||||||
|activities||||(8,083,224)|(4,545,759)|
|Cash flows from financing|activities|||||
|Issue ofshare capital||||||
|Change<br>in cash and cash <br>reporting<br>period|equivalents|in the||(386,988)|6,181,451|
|Cash and cash equivalents|atthe beginning||of|||
|the reporting<br>period||||20,225,909|14,044,458|
|Cash and cash equivalents|at the end|ofthe||||
|reporting<br>period||||~19838,921|20,225,909|





## 


## 

||||||||Year Ended|YearEnded|
|---|---|---|---|---|---|---|---|---|
||||||||31.12.21|31.12.20|
||||||||E|6|
|Net income for the <br>financial<br>activities)||reporting|period (as|per the statement|of||6,337,674|20,576,681|
|Adjustmbnts<br>for:|||||||||
|Depreciation<br>charges<br>Decrease in deferred tax provision|||||||105,959<br>(4,583)|29,302<br>(11,970)|
|Decrease|in debtors||||||497,943|(9,581,643)|
|Increase|in creditors||||||758,404|(285,160)|
|Net cash|provided|by (used|in) operating|activities|||7,695,397|~10727,210|
|ANALYSIS OF CHANGES IN NET FUNDS|||||||||
||||||At|1.1.21|Cash flow|At 31.12.21|
|||||||E|E|E|
|Net cash|||||||||
|Cash at bank|||||20,225,909||(386,988)|19,838,921|
||||||20,225,909||~303.9083|29.138,9»|
|Total|||||20,225,909||J338,988|19,8,911|






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|3.|DONATIONS|AND LEGACIES|AND LEGACIES|||
|---|---|---|---|---|---|
|||||Year Ended|Year Ended|
|||||31.12.21|31.12.20|
|||||E|E|
||Donations|||2,312,656|14,790,889|
|4.|INVESTMENT INCOME|||||
|||||Year Ended|Year Ended|
|||||31.12.21|31.12.20|
|||||E|E|
||Rents received|||5,516,073|6,189,006|
||Interest received|||15,662|52,991|
|||||5,531,735|6,241,997|
|5.|TRADING INCOME|||||
|||||Year Ended|Year Ended|
|||||31.12.21|31.12.20|
|||||E|E|
||Income generated||from trading activities|402491|125,684|





## 

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## 

||||||||Year Ended||Year|Ended|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||31.12.21||31.12.20||
||||||||E|||E|
|Rents payable<br>Rates|||||||42S,830<br>19,959||252,580||
|Legalfees<br>Consultancy|and||Design fees||||21,948<br>140,888||214<br>122,151||
||||||||611,625||374,945||
|CHARITABLE||ACTIVITIES COSTS|||||||||
|||||||Grant||||Year|
||||||Direct|funding of|Support|||Ended|
||||||costs|activities|costs||Totals|31.12.20|
|||||||(See note 9)|(See note||||
||||||||10)<br>f||E|E|
|Direct charitable<br>expenditure<br>Other resources expended<br>Governance<br>costs|||||550,295|103,750|96,466<br>541,769<br>9,886||750,511<br>541,769<br>9,886|75,174<br>133,878<br>9,862|
||||||550,295|103,750|648121|1~302p166||218 914|
|Direct charitable|||expenditure|breakdown:|||||||
|Purchases|||||283,257||||||
|Professional|fees||||124,145||||||
|Exchange rate||variances|||142,893||||||
||||||550,295||||||



|||Year Ended|Yearfnded|
|---|---|---|---|
|||31.12.21|31.12.20|
|||E|E|
|Deferred|tax|4,583|~11970|





## 

## 

|Year Ended|YearEnded|
|---|---|
|31.12.21|31.12.20|
|E|E|
|103,750|25,000|



|||Year Ended|Year Ended|
|---|---|---|---|
|||31.12.21|31.12.20|
|||E|E|
|NFTS||3,750|25,000|
|Picture|Hooks|100,000||
|||103,750|25,000|



## 

|||||||Governance||
|---|---|---|---|---|---|---|---|
||||Management|Finance|Other|Costs|Totals|
||||E|E|E|E|E|
|Direct charitable||expenditure|||96,466||96,466|
|Other resources||expended|502,596|110|39,063||541,769|
|Governance|costs|||||9,886|9,886|
||||520,596|110|135529|9g886|648,121|



## 



## 

## 


## 

||Year Ended|Year Ended|
|---|---|---|
||31.12.21|31.12.20|
||E|E|
|Wages|482,530|78,160|
|Social security<br>Pension|17,044<br>~3022|3,040<br>1155|



## 

## 

## 

|||Unrestricted<br>funds|Total funds|
|---|---|---|---|
|INCOME AND ENDOWMENTS|FROM|||
|Donations<br>and legacies<br>Investment<br>income||14,790,889<br>6,241,997|14,790,889<br>6,241,997|
|Trading income||125684|111444|
|Total||21,158,570|21,158,570|
|EXPENDITURE ON||||
|Raising funds||374,945|374,945|
|Charitable<br>activities||||
|Direct charitable<br>expenditure||75,174|75,174|
|Other resources expended||133,878|133,878|
|Governance<br>costs||~9862|~9862|
|Tax||11970|11970|
|Total||581,889|581,889|
|NET INCOME||20575,681|~20, 76681|
|RECONCIUATION<br>OF FUNDS||||
|Total funds brought forward||20,350,038|20,350,038|
|Funds attributable<br>to group<br>Non-controlling<br>interests||20,587,712<br>~11031|20,587,712<br>(11,031)|
|TOTAL FUNDS CARRIED FORWARD||4~0L 2<br>19|40~(L7~1|





## 

## 

## 

|Group|||||
|---|---|---|---|---|
||||Fixtures||
|||Long|and||
||Freehold|leasehold|fittings|Total|
|||E|E|E|
|Cost or valuation|||||
|At 1stJanuary 2021|4,757,176|886,197|66,971|5,710,344|
|Additions|3,036,046|1,293,994|690,444|5,020,484|
|Disposals|||||
|At 31stDecember 2021|7 793 222|2.18D,191|757415|1.9,750,828|
|Depreciation<br>At 1stJanuary 2021<br>Charge for year||68,256<br>69,484|55,298<br>367475|123,554<br>105,959|
|At 31stDecember 2021||137,740|91,773|229,513|
|Net book value|||||
|At 31st December 2021|7,7053u|2,942,45|65,642|29,502,525|
|At 31stDecember 2020|8 752216|817,941|11,673|5,586,790|





## 

## 

## 

|Charity||||
|---|---|---|---|
|||Long||
||Freehold<br>E|Leasehold<br>E|Totalf|
|Cost||||
|At 1stJanuary 2021<br>Additions|4,757,176<br>~3036046|886,197|5,643,373<br>3,036,046|
|At 31st December 2021|~7793222|~886197|8,679,419|
|Depreciation<br>At 1stJanuary 2021<br>Charge for year||68,256<br>~17724|68,256<br>17,724|
|At 31stDecember 2021||~85980|85,980|
|Net book value<br>At 31stDecember 2021|7~222|800r217|8,593,439|
|At 31stDecember 2020|4~757<br>76|~179|5,575,117|





## 

## 

## 

|Group and Charity||
|---|---|
||Total|
||6|
|Market value||
|At 1stJanuary 2021|132,510|
|Additions|34,740|
|At 31stDecember 2021|167,250|
|Net book value||
|At 31stDecember 2021|167,250|
|At 31stDecember 2020|132,510|



## 

## 

|Charity||
|---|---|
||Equity|
||investment<br>in|
||group|
||undertakings|
||E|
|Market value||
|As at 1stJanuary 2021<br>Addition|209,308<br>1850|
|At 31stDecember 2021|211158|
|Net book value||
|At 31stDecember 2021|211,158|
|At 31st December 2020||





## 






## 

||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2021|2020|2021|2020|
||E|E|E|E|
|Trade debtors|1,956,912|1,370,019|1,960,775|1,343,137|
|Deferred tax|2,365||||
|Other debtors|14,517,493|15,602,329|16,363,253|15,595,765|
||16,476,770|16,972,348|18,324,028|16,938,902|



## 

||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2021|2020|2021|2020|
||E|E|E|E|
|Trade creditors|47,200|172|||
|Taxation and social security|3,680|257,369|293,581|198,763|
|Other creditors|2,696,144|1,731,079|1,797,895|1,708,229|
||2,747,024|1,988,620|2,091,476|1,906,992|



## 

|||||Group||
|---|---|---|---|---|---|
||||2021||2020|
||||E||E|
|Deferred|tax|||||
|Accelerated||capital allowances|572||2,218|
|Tax losses carried forward|||~2937|||
||||L223||~2218|
||||||Deferred|
||||||tax|
||||||E|
|At 1stJanuary||2021|||2,218|
|Provided|during year||||(4,583)|
|Balance|at 31st December 2021||||(2,365)|





## 

## 

||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 1.1.21|in funds|funds|31.12.21|
|||||E|E|E|E|
|Unrestricted||funds||||||
|General|fund|||27,363,228|8,880,411||36,243,639|
|Designated||funds||13,550,000|(2,400,000)||11,150,000|
|||||40,913,228|6,480,411||47,393,639|
|Nonwontrolling|||interest|13,491|(141,898)||(128,407)|
|TOTAL|FUNDS|||40,926,719|6,33$,513||47,265,232|



||||Incoming|Resources|Movement|
|---|---|---|---|---|---|
||||resources|expended|in funds|
||||E|E|E|
|Unrestricted|funds|||||
|General fund|||8,206,633|2,092,1984|6,480,411|
|Non-controlling||interests|40,249|(182,9$6)|(142,737)|
|TOTAL FUNDS|||8~246.882|1,90908|6~332,674|



## 



## 

## 

|||2021|2020|
|---|---|---|---|
|||E|E|
|On acquisition||23,257|23,257|
|Share ofresults||(152,503)|(9,766)|
|Issue ofshare capital||839||
|Closing non-controlling|interests|(128,407)|13,491|



## 

## 

||Group and charity|Group and charity|
|---|---|---|
||2021|2020|
||E|E|
|Within one year|206,076|213,015|
|Between one and five years|796,548|802,746|
|In more than five years|1,810,756|2,009,893|
||2,813,381|3,025,654|





||||Year Ended|Year Ended|
|---|---|---|---|---|
||||31.12.21|3112 20|
||||E|E|
|INCOME AND ENDOWMENTS|||||
|Donations and legacies<br>Donations|||2,312,656|14,790,889|
|Investment<br>income|||||
|Rents received|||5,516,073|6,189,006|
|Interest received|||15,662|52,991|
|Trading Income|||402,491|125,684|
||||5,934,226|6,367,681|
|Totalincoming<br>resources|||8,246,882|21,158,570|
|EXPENDITURE|||||
|Investment<br>management<br>costs<br>Rents payable<br>Legal fees<br>Consultancy<br>and design fees|||428,830<br>21,948<br>140,8$8|252,580<br>214<br>122,151|
||||591,666|374,945|
|Charitable<br>activities|||||
|Architecture<br>and professional<br>Grants to institutions||fees|124,145<br>103,750|32,450<br>25,000|
|Operating<br>expenses<br>Suppliers<br>Exchange rate variances<br>Rates|||266,121<br>17,136<br>142,$93<br>19,959||
||||674,004|57,450|
|Support costs|||||
|Management<br>Insurance|||15,752|12,973|
|Sundries|||||
||||15,752|12,973|
|Finance<br>Bank charges|||110|113|
|This|page does not form part ofthe statutory||financial statements||





## 

## 

|||Year Ended|Year Ended|
|---|---|---|---|
|||31.12.21|31.12.20|
|||E|E|
|Other||||
|Leasehold depreciation<br>Fixtures and fittings depreciation<br>Wages<br>Social security<br>Pensions||96,466<br>9,493<br>482,530<br>17,044<br>3,022|17,724<br>11,578<br>78,160<br>3,040<br>1,155|
|Telephone<br>Post and stationery<br>Advertising<br>Travelling<br>Computer costs<br>Licenses and insurance||1,810<br>541<br>124<br>115<br>134|1,732<br>1,929<br>1,736<br>18,433<br>148<br>134|
|Sundry expenses<br>Subscriptions<br>Legal and professional|fees|6,490<br>1,921<br>2,683|522<br>1,697<br>528|
|||622,373|138,516|
|Governance costs||||
|Auditors'<br>remuneration||9,886|8,500|
|Accountancy<br>fees|||1,362|
|||9,886|9,862|
|Deferred tax||(4,583)|(11,970)|
|Tota Iresources expended||1,909,208|581,889|
|Net income||~6,337674|20,576,681|