| Page | |||
|---|---|---|---|
| Trustees' | annual report |
||
| Independent auditor's |
report to the members | ||
| Statement | offinancial | activities | |
| Statement | offinancial | position | |
| Statement | of cash flows | 10 | |
| Notes to the financial | statements |
| Reference | and adm | inistrative | details | details | ||
|---|---|---|---|---|---|---|
| Registered | charity | name | The Sinclair Charity | |||
| Charity registration | number | 1174460 | ||||
| Principal | office | Mountvlew 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 | ||||||
| 7-12Tavlstock | Square | |||||
| London | ||||||
| WC1H 9BQ |
| Year ended 31 Decem | be | r 2021 | ||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Unrestricted | ||||||
| funds | Total funds | Total funds | ||||
| Note | E | E | ||||
| Income and endowments Donations and legacies Investment income |
4 5 |
543,889 419,592 |
543,889 419,592 |
3,639,912 633,630 |
||
| Total Income | 963481 | 963481 | 4273,542, | |||
| Expenditure | ||||||
| Expenditure on raising funds: Investment management costs Expenditure on charitable activities |
6 7,8 |
31,633 511,201 |
31,633 511,201 |
16,953 860,990 |
||
| Total expenditure | 542,834 | 542,834 | 877,943 | |||
| Net income | 420,647 | 420,647 | 3,395,599 | |||
| Other recognised gains Revaluation ofinvestments |
and | losses | 1,679,461 | 1,679,461 | 905,723 | |
| Net movement in funds |
2,100,108 | 2,100,108 | 4,301,322 | |||
| Reconciliation offunds Total funds brought forward |
14,356,639 | 14,356,639 | 10,055,317 | |||
| Total funds carried forward | 16,456,747 | 16,456,747 | 14,356,639 |
| 31 December 202 | 1 | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Note | F | E | |||
| Fixed assets Investments |
13 | 16,207,106 | 14,042,691 | ||
| Current assets Cash at bank and ln |
hand | 266,441 | 327,148 | ||
| Creditors: amounts | falling | due within one year | 14 | (16,800) | (13,200) |
| Net current assets | 249,641 | 313,948 | |||
| Total assets less current | liabilities | 16,456,747 | 14,356,639 | ||
| Net assets | 16,456,747 | 14,356,639 | |||
| Funds ofthe charity Unrestricted funds |
16,456,747 | 14,356,639 | |||
| Total charity funds | 15 | 16,456,747 | 14,356,639 |
| The Sinclair Charity Statement of Cash Flows Year ended 31 December 2021 |
|||
|---|---|---|---|
| 2021 | 2020 | ||
| Cash flows from operating activities Nei income |
420,847 | 3,395,599 | |
| Adjustments for; Dividends, interest and rents from investments Other Interest receivable and similar income Accrued expenses Non-cash donations received |
(419,592) 3,600 |
(633,565) (65) 1,200 (2,040,134) |
|
| Changes ln: Trade and other debtors |
114,634 | ||
| Cash generated from operations |
4,655 | 837,669 | |
| Interest received | 65 | ||
| Net cash from operating activities |
4,655 | 837,734 | |
| Cash flows from investing activities Dividends, Interest and rents from investments Purchases of other investments Proceeds from sale of other investments Other Investing cash flow adjustment |
419,592 (2 319447) 1,834,494 (1) |
633,585 (3,673,990) 2,263,063 |
|
| Net cash used In Investing activities |
(65,362) | (777,362) | |
| Net (decrease)/Increase In cash and cash Cash and cash equivalents at beginning |
equivalents ofyear |
(60,707) 327,148 |
60,372 266,776 |
| Cash and cash equivalents at end ofyear |
286,441 | 327,148 |
| Yea | r ended 3 | 1 December | 1 December | 1 December | 2021 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 4. | Donations | and legacies | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| E | K | F | |||||||
| Legacies Investment |
portfolio | and cash | 543,889 | 543,889 | 3,639,912 | 3,639,912 | |||
| 5. | Investment | income | |||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| E | |||||||||
| Dividends | from Investments | 419,592 | 419,592 | 633,565 | 633,565 | ||||
| Bank Interest receivable | 65 | 65 | |||||||
| 419,592 | 633,630 | 633,630 | |||||||
| 6. | Investment | management | costs | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| F | F | E | |||||||
| Portfolio management | 31,633 | 31,633 | 16,953 | 16,953 | |||||
| 7. | Expenditure | on charitable | activities | by fund type | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2021 | Funds | 2020 | ||||||
| E | E | ||||||||
| Donations Support costs |
500,000 11,201 |
500,000 11,201 |
850,000 10,990 |
850,000 10,990 |
|||||
| 511,201 | 511,201 | 860,990 | 860,990 | ||||||
| 8. | Expenditure | on charitable | activities | by activity type | |||||
| Grant funding | Support | Total funds | Total fund | ||||||
| ofactivities | costs | 2021 | 2020 | ||||||
| F | E | K | E | ||||||
| Donations Governance |
costs | 500,000 | 11,201 | 500,000 11,201 |
850,000 10,990 |
||||
| 500,000 | 11,201 | 511,201 | 860,990 | ||||||
| 9. | Analysis | ofsupport costs | |||||||
| Professional | |||||||||
| fees | Total 2021 | Total 2020 | |||||||
| E | |||||||||
| Governance | costs | 11,201 | 11,201 | 10,990 |
| 10. | Analysis of grants |
Analysis of grants |
||
|---|---|---|---|---|
| 2021 | 2020 | |||
| E | ||||
| Grants to institutions Donations |
500,000 | 850,000 | ||
| Total grants | 500,000 | 850,000 | ||
| 11. | Net income | |||
| Net income is | stated after charging/(crediting): | 2021 | 2020 | |
| E | ||||
| Fees payable | for the audit ofthe financial statements | 7,200 | 7,200 |
| Investments | |||
|---|---|---|---|
| Listed | Other | ||
| Investments | investments | Total | |
| Cost or valuation At 1 January 2021 Additions Dlsposals Fair value movements |
11,150,377 2,319,447 (1,834,494) 1,343,039 |
2,892,314 336,423 |
14,042,691 2,319,447 (1 834 494) 1,679,462 |
| At 31 December 2021 | 12,978,369 | 3,228,737 | 16,207,1D6 |
| Impairment At 1 January 2021 and 31 December 2021 |
|||
| Carrying amount At 31 December 2021 |
12,978,369 | 3,228,737 | 16,207, 106 |
| At 31 December 2020 | 11,16D.377 | 2,892,314 | 14,D42,691 |
| Unrestricted funds |
||||||||
|---|---|---|---|---|---|---|---|---|
| At | At | |||||||
| General funds | 1 | January 20 21 14,356,639 |
Income f 963,481 |
Expenditure (542,834) |
Gains and losses 1,679,461 |
31 Decembe r2021 f 164567,47, |
||
| Ai | At | |||||||
| 1 | January | 20 20 |
income | Expendituref | Gains and losses |
31 December 2020 f |
||
| General funds | 10,055,317 | 4,273,542 | (677,943) | 905,723 | 14,356,639 | |||
| Analysis ofnet assets between funds | ||||||||
| Unrestricted | Total Funds | |||||||
| Funds f |
2021 f |
|||||||
| Investments | 16,207,106 | 16,207,106 | ||||||
| Current assets | 266,441 | 266,441 | ||||||
| Creditors less than | 1 year | (16,800) | (16,800) | |||||
| Net assets | 16,456,747 | 16,456,747 | ||||||
| Unrestricted | Total Funds | |||||||
| Funds | 2020 f |
|||||||
| Investments | 14,042,691 | 14,042,691 | ||||||
| Current assets | 327,148 | 327,148 | ||||||
| Creditors less than | 1 year | (13,200) | (13,200) | |||||
| Net assets | 14,355,639 | 14,356,639 |
| 18. | Analysis ofchanges | in net debt | ||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 Jan 2021 | Cash flows | 31Dec | 2021 | |||
| F | E | E | ||||
| Cash at bank and ln | hand | 327,148 | (60,707) | 266,441 |