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|---|---|---|---|
|Trustees'|annual
report|||
|Independent
auditor's||report to the members||
|Statement|of financial|activities||
|Statement|of financial|position||
|Statement|of cash flows||10|
|Notes to the financial statements||||
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|Reference|and adm|inistrative|details|details|||
|---|---|---|---|---|---|---|
|Registered|charity|name|The Sinclair Charity||||
|Charity registration||number|1174460||||
|Principal office|||Mountview
Estates Pic||||
||||Mountview
House||||
||||151 High Street||||
||||London||||
||||N14 6EW||||
|The trustees|||||||
||||Mrs C Sinclair||||
||||Mr AK Stubbs||||
||||Mr DM Sinclair||||
|Auditor|||BSGValentine|(UK) LLP|||
||||Chartered
Accountants||&Statutory|Auditor|
||||Lynton House||||
||||7-12Tavistock|Square|||
||||London WC1H|9BQ|||
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|Year ended|31 Dece|mbe|r 2020|||||
|---|---|---|---|---|---|---|---|
||||||2020||2019|
||||||Unrestricted|||
||||||funds|Total funds|Total funds|
|||||Note||||
|Income and endowments||||||||
|Donations
and|legacies|||4|3,639,912|3,639,912||
|Investment
income||||5|633,630|633,630|229,268|
|Total income|||||4,273,542|4,273,542|229,268|
|Expenditure||||||||
|Expenditure
on|raising funds:|||||||
|Investment|management||costs|6|16953|16953||
|Expenditure
on|charitable|activities||7,8|860,990|860,990|19,817|
|Total expenditure|||||877,943|877,943|19,817|
|Net income|||||3,395,599|3,395,599|209,451|
|Other recognised
gains
Revaluation
of investments||and|losses||905,723|905,723|1,832,312|
|Net movement|In funds||||4,301,322|4,301,322|2,041,763|
|Reconciliation|offunds|||||||
|Total funds brought
forward|||||10,055,317|10,055,317|8,013,554|
|Total funds carried forward|||||14,356,639|14,356,639|10,055,317|
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|||||2020|2019|
|---|---|---|---|---|---|
||||Note|||
|Fixed assets||||||
|Investments|||13|14,042,691|9,685,907|
|Current assets||||||
|Debtors|||l4||114,634|
|Cash at bank|and in|hand||327,148|266,776|
|||||327,148|381,41 0|
|Creditors: amounts||falling due within one year|15|(13,200)|(12,000)|
|Net current|assets|||313,948|369,410|
|Total assets|less current liabilities|||14,356,639|10,055,317|
|Net assets||||14,356,639|10,055,317|
|Funds ofthe charity||||||
|Unrestricted|funds|||14,356,639|10,055,317|
|Total charity|funds||16|14,356,639|10,055,317|
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|Year ended 31 Decemb|er 2020||||
|---|---|---|---|---|
||||2020|2019|
|Cash flows from operating|activities||||
|Net income|||3,395,599|209,451|
|Adjustments
for:|||||
|Dividends,
interest and rents|from investments||(633,565)|(229,268)|
|Other interest receivable
and|similar income||(65)||
|Accrued expenses|||1,200|6,000|
|Non-cash donations
received|||(2,040,134)||
|Changes
in:|||||
|Trade and other debtors|||114,634|(114,634)|
|Cash generated
from operations|||837,669|(128,451)|
|Interest received|||65||
|Net cash from/(used
in) operating
activities|||837,734|(128,451)|
|Cash flows from investing|activities||||
|Dividends,
interest and rents|from investments||633,565|229,268|
|Purchases
of other investments|||(3,673,990)||
|Proceeds from sale of other|investments||2,263,063||
|Net cash (used in)/from
investing
activities|||(777,362)|229,268|
|Net increase
in cash and cash equivalents|||60,372|100,817|
|Cash and cash equivalents|at beginning|ofyear|266,776|165,959|
|Cash and cash equivalents|at end ofyear||327,148|266,776|
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|4.|Donations|and lega|cies||||||
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2020|Funds|2019|
||Legacies||||||||
||investment|portfolio|and|cash|3,639,912|3,639,912|||
|5.|Investment|income|||||||
|||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|2020|Funds|2019|
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|Dividends|from investments|633,565|633,565|229,268|229,268|
|Bank interest receivable||65|65|||
|||633,630|633,630|229,268|229,268|
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||||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|---|---|
||||Funds|2020|Funds|2019|
||||||P||
||Portfolio management||16,953|16,953|||
|7.|Expenditure|on charitable|activities by fund type||||
||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||Funds|2020|Funds|2019|
||Donations||850,000|850,000|||
||Support costs||10,990|10,990|19,817|19,817|
||||860,990|860,990|19,817|19,817|
|8.|Expenditure|on charitable|activities by activity type||||
|8.|Expenditure|on charitable
activi|ties by activity type||||
|---|---|---|---|---|---|---|
||||Grant funding||Total funds|Total fund|
||||of activities Support costs||2020|2019|
||Donations||850,000||850,000||
||Governance|costs||10,990|10,990|19,817|
||||850,000|10,990|860,990|19,817|
|9.|Analysis of|support costs|||||
|Professional|||
|---|---|---|
|fees|Total 2020|Total 2019|
|10,990|10,990|19,817|
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|10.|Analysis of grants|||
|---|---|---|---|
|||2020|2019|
||Grants to institutions|||
||Donations|85O,OOO||
||Total grants|850,000||
|11.|Net income|||
||Net income is stated after charging/(crediting):|||
|||2020|2019|
|||R||
||Fees payable for the audit ofthe financial statements|7,200|4,500|
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|Investments||||
|---|---|---|---|
||Listed|Other||
||investments|investments|Total|
|Cost or valuation||||
|At 1 January 2020|6,763,406|2,922,501|9,685,907|
|Additions|5,714,123||5,714,123|
|Disposals|(2,263,063)||(2,263,063)|
|Fair value movements|935,911|(30,187)|905,724|
|At 31 December 2020|11,150,377|2,892,314|14,042,691|
|Impairment||||
|At 1 January 2020 and 31 December 2020||||
|Carrying
amount||||
|At 31 December 2020|11,150,377|2,892,314|14,042,691|
|At 31 December 2019|6,763,406|2,922,501|9,685,907|
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|2020|2019|
|---|---|
|13,200|12,000|
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||||At||||At|
|---|---|---|---|---|---|---|---|
|||1|January 202|||Gains and 31 December||
||||0|Income|Expenditure|losses|2020|
|||||||E|P|
|General|funds||10,055,317|4,273,542|(877,943)|905,723|14,356,639|
||||At||||At|
|||1|January 201|||Gains and31 December||
||||9|income|Expenditure|losses|2019|
|||||||P||
|General|funds||8,013,554|229,268|(19,817)|1,832,312|10,055,317|
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|Analysis
of net as|sets between funds|||
|---|---|---|---|
|||Unrestricted|Total Funds|
|||Funds|2020|
|investments||14,042,691|14,042,691|
|Current assets||327,148|327,148|
|Creditors less than|1 year|(13,200)|(13,200)|
|Net assets||14,356,639|14,356,639|
|||Unrestricted|Total Funds|
|||Funds|2019|
||||P|
|Investments||9,685,907|9,685,907|
|Current assets||381,410|381,410|
|Creditors less than|1 year|(12,000)|(12,000)|
|Net assets||10,055,317|10,055,317|
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|18.|Financial instruments||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||The carrying
amount|for each category of financial||||instrument|is as follows||||
||||||||||2020|2019|
||Financial assets measured|||at fair value through||income|and expenditure||||
||Financial assets measured||at fair value through||income and||||||
||expenditure|||||||14,042,691||9,685,907|
|19.|Analysis ofchanges|in net||debt|||||||
|||||||||||At|
|||||||At 1 Jan 2020||Cash|flows|31 Dec 2020|
||||||||||E||
||Cash at bank and in|hand|||||266,776||60,372|327,148|
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