## ## ## ||||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|| ##