2021-04-05-accounts

Trustees	Mr Stewart Grimshaw	Mr Stewart Grimshaw
	Mr Charles Cator
	Mr Dominic Flynn
Registered	The Peak
ONce	SWilton Road
	London SW1V1AP
Principal	Mrs Karen Everett	Chief Operating	Officer
ONcers	Mr Mark Woodruff	Trust Executive
Bankers	Child &Co
	1Fleet Street, London EC4Y 1BD
Solicitors	Portrait Solicitors
	21Whitefriars Street
	London EC4Y BJJ
Auditors	Crowe U.K. LLP
	.55 Ludgate Hill
	London EC4M 7JW
Objects	The objects ofthe	charity, as given in the constitution		document,	are to advance	such
	charitable purposes	(according to the law of	England	and Wales)	asthe Trustees	see fit
	from time totime.

The Trustees approved grants w by number, value and category	ith atotal value off235 as follows.	,2311t2020:f105
	Grants	Value
	Approved	f
Arts and Heritage		182,000
Health and Social Welfare		53,231
	13	235,231

		Unrestrkted	Restricted	Expendable	Total Funds	Total Funds
	Notes	Funds E'000	Funds E'000	Endowment E'000	2021 EI	2020 E'000
Income from:
Novation ofcontracts	12		2,786		2,786
Donations received	9				700
Other income		17			17
Total Income		17	2,786		3,503	61
Expenditure on:
Cbarftable actbrftiesr
Glasshouse development			258		258	687
Grantexpenditure		235			235	(2J
Supportcosts		400			400	2,100
Totalexpenditure		635	258		893	2,786
Net movement in funds		(618),	2,528	700	2,610	(1,725)
Recondliation offunds:
Total funds brought forward		3,435	8,097		11,532	23+57
Total funds carried forward		2,817	10,625	700	14,142	12,532

		Notes		2021	2020
			f'000	f'000
TANGIBLE FIXEDASSETS
Asset under construction				9,26&	3,169
CURRENT ASSETS
Debtors		6	1,669		887
Cash at bank and in	hand		4,282		9,363
			5,951		10,250
CURRENT LIABIUTIES
Creditors - amounts	falling due within one year	7	(1,077)		(1,837'
NET CURRENT ASSETS				4,874	8,413
Creditors - amounts	falling due after one year				(50)
NET ASSETS				14,142	11+32
CAPITAL FUNDS
Expendable endowment
INCOME FUNDS
Unrestricted funds				2,817	3,435
Restricted funds				10,625	8,097
				14,142	11~2

Cash flows from operating	activities:
					2021	2020
					f'000	f'000
Net cash provided by/(used	ln) operating	activities			1,01&	~2973
Cash flows from Investing activities: Fixed asset additions				~6,009)		~3209
Net cash used in investing	activities				(6,099)	(3,169)
Change in cash and cash equivalents in the period					(5,081)	(6,144/
Cash and cash equivalents	atthe beginning ofthe period				9/63	15+07
Cash and cash equivalents	atthe end of	the period			4,282	9,363
Reconciliation ofnet income to net cash		flow from operating	activities
					2021	2020
					f'000	f'000
Net movement in funds (as per the Statement ofFinancial Activities)					2,610	(2,725)
(Increase)/decrease in debtors Decrease in creditors					P82) ~020)	270 ~1820)
Net cash provided by/(used	in) operating	activities			1,018	(2,975)
Analysis ofthe balance ofcash as shown		in the balance sheet
				2021	2020	Changein ~cried
				f'000	f'000	f'000
Cash at bank and in hand				4,282 4,282	9,363 0,565	(5,081) ~5,0&1

2.	ANALYSIS OF GRANTS	ANALYSIS OF GRANTS
						2021		2020
					f'000	f'000	f'000
	Reconciliation of	grants payable
	Commitments at	6April 2020				1,503		3.373
	Grants approved	in the year			235		105
	Grants cancelled,	refunded or amended					(106j
	Total grants payable forthe year					235
	Grants paid during the period					(910)		(1,869)
	Commitments at	5April 2021				828		1,503
	Commitments at	5 April 2021are payable as follows:
						2021		2020
						f'000		f'000
	Within one year					828		1,453
	After one year							50
						828		1,503
	The grants payable in the year		include	the following:
						f
	Balletboyz Ltd					15,000
	Furniture History	Society				25,000
	Melos Sinfonia					15,000
	National Theatre	ofSoctland				10,000
	Pallant House Gallery					5,000
	Royal Horticultural	Society				2,0OO
	Royal Opera House Covent Garden Foundation					100,000
	StSwithin's Cuhurch Clunbury		P.C.C.			10,000
	alt ad IW
	African Solutions	to African Problems		[ASAP)		10,000
	British Red Cross	—Headquarters				5,000
	Gay Men's Health	Crisis				8,231
	Just One Ocean					5,000
	Mr gt Mrs Michael Nunn					25,000
	Total grants payable per Statement of			Financial Activities		235,231

ALLOCATION OFSUPP	ORT COSTS
		Unrestricted	Restricted	Total Funds	Total Funds
		Funds	Funds	2021	2020
		E'000	E'000	E'000	E'000
Staff costs		126		126	254
Share ofjoint office costs		105		105	710
Direct costs including	travel	10		10	6
Legal and professional	fees	145		145	112
Governance		14		14	18
		400		400	1,100

		2021	2020
		E'000	E'000
Wages	and salaries	105	207
Social	security costs	12	22
Other	pension costs	11	27
		128	256

6.	DEBTORS
			2021	2020
			Total	Total
			f'000	f'NO
	Amounts	due from subsidiary	1,410	574
	VATdebtor		249	303
	Other debtors		10	10
			1,669	887
7.	CREDITORS
	Amounts	falling due within one year
			2021	2020
			Total	Total
			f'NO	f'0N
	Grants payable		828	1,453
	Trade creditors			79
	Accruals		78	39
	Other creditors		171	266
			1,077	1,837
	CREDITORS
	Amounts	falling due after one year
			2021	2020
			Total	Total
			f'NO	f'0N
	Grants payable			50
				50

ANALYSIS OF NET ASSETSBEiWEEN FUNDS
		Unrestricted	Restricted	Expendable	Totals
		Funds	Funds	Endowment	2021
		E'000	E'000	E'000	E'000
Fund balances at5April 2021are represented	by:
Tangible fixed assets			9,268		9,268
Current assets		3,894	1,357	700	5,951
Current liabilities		1,077			1,077
Total net assets		2,817	10,625	700	14,142
Movement in the year
Opening balance asat 6April 2020		3,435	8,097		11,532
Total income		17	2,786	700	3,503
Charitable activities		635	258		893
Closing balance as at 5April 2021		2,817	10,625	700	14,142
COMPARATIVE ANALYSIS OF NET ASSETSBETWEEN FUNDS
			Unrestricted	Restricted	Totals
			Funds	Funds	2020
			g'000	E'000	E'000
Fund balances at 5 April 2019are represented	by:
Tangible fixed assets				3,169	3,169
Current assets			5,322	4,928	10,250
Current liabilities			(1,837)		(1,837)
Future dated liabilities			(50)		(50)
Total net assets			3,435	8,097	11,532
Movement in the year
Opening balance as at 6April 2019			4,473	8,7&4	13,257
Total Income			61		61
Charitable activities			(1,099)	(687)	(1,786)
Closing batance asat5Aprig 2020			3,435	8,097	11,532

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	E'000	6'000	E'000
Income from:
Other income			61
Total income	61		61
Expenditure on:
Charitable actfvttiesr
Glasshouse Development		687	687
Grant expenditure	(1)		(1)
Support Costs	1,100		1,100
Total expenditure	1,099	687	1,786
Net movement in funds	(1,03&)	(687)	(1,725)
Reconciliation offunds:
,Total funds brought forward	4,473	8,784	13,257
Total funds carried forward	3,435	8,097	11,532