REGISTERED CHARITY NUMBER: 1184459 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMEIKS FOR THE YEAR ENDED 31 JULY 2021 FOR ThE TUDWICK FOUNDATION Baker Chapman & Bussey Chartered ACl>ntants 3 North Hill Colchester E85ex C01 IDZ
THE TUDWICK FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 Chalnnan's Rèport Report of tho Tru8tee8 Indeynd•nt Examln•rf8 R•port Statèment of FlnanclAI Actlvltl•• Balanc• Shoot Cuh Flow Ststemont Not•• to th• C88h Flow 8tstem•nt Notso to th• Fln•n¢l*l St#t•ment• D•tall•d 8t•t•ment ol Fln8nclal Actlvlti 9 10 14 15
THE TUDWICK FOUNDATION CHAIRMAN'S REPORT FOR ThE YEAR ENDED 31 JULY 2021 It Is a plea3ure to present our sec•)nd annual repcvl. Our constsnl ethos is to help those vtho help oth&ts. Thts have constanuy tried to achieve ¢arebJlly vetting th6 appllcants comlrg fr(xn a spectrum of communiiy 8cbvibe$. We are particulady pleased lo be able to help thL)se at the threshold of a community Ven. see the need to imwove the Ilfe of Olhers. but who need something of 8 finandal "leg-up. to bring aspiration$ lo realty. This 1$ focus. ralher Ihan assisbng chiti"g¥ Wth sub¥tsntial thcome and rnserves. pawng a prof8sonal fund raiser to make icatlon8. At this lime last year, we had no way of knowng that Ihe locadown8 8nd re8tréctions due lo CovKI would remaln th us for another 12 months. This continued to challenge convenb.onal community 9athorings resultlng losses ol revenue to clubs, village halls and other ¢entres. The extènsion of lo¢k downs a180 impacted the mental health of many and those 1 spe¢i•l needs. I refai the reader to ihe Iruslees, rekxjrt whth gives d8talls of the hglp have been able lo 91ve, and which ¢ould be diwided and 3ummari5ed in th8 followng c8legories'. AdulVChlldlYouth educatlonlopw1unty 31% Cornmunlty ¥upport 27% Mental Heath 21% Isolatlon and lonellness 11% Phy8ical health support 10% The trustees. report 8150 menttons thg Inveslmgnl perfomi8nce of our assets and the accounts show that have roceived ovgr £91.000 of investment in¢ome, mat¢htng the OXEtionS pr¢ Covid. Wlh the neeil$ of our community, It can be seen that w• have expended over £105.0 In granti. We IrrteThJ to continu8 to roach out wlth a helplng h8nd to those wlling lo inv88t klndness In. and to othtsr¥. My thanks lo my CCtrtW8le•8 and to Sue Ha8. our eveTwc0nscitkMJs 80Ugtsry C N Bennett- Cholrman Pagè 1
THE TUDWICK FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021 The tru$lees present thelr roM)rt vrith th8 finan(¥al stst&ments of the charity for the year ended 31 Juty 2021. The Irusl8e$ have adopted the provisions of Accounting and Reporting by Charfues.. Statement of Recommended Practice applicable to charities preparing tt)elr acojunts in ac£ordance vrith the Finartcl Reporting Standard appllcable in th& UK and Republic of IrelaThJ (FRS 102) (eff•ctr¥e l Janry 2019). OBJECTIVES AND ACTIVITIES ObJ•etlve• and AimJ The objects of the chadty aro the prcM)wlbn of Wby tharit8ble puryjosès for the b8Mfft of thg communlty wimarily, but not exclu$ively, in E55ex and Sufft>lk, in the advarthnBnt of edlo110n, the ptotedon of mental and phyiical health and the relief of poverty and 8lcknes5. SlgnSncant actSvlll•• The charity seeks to achleve its obl8¢ts ty moklng grants. princlwty to $rnall organi8alion8, for sp8cthc and wèll defined projects. Publlc b•nefit The tnJstw have p8ld due regard to the Chiity CommI85k gu3810 on publlc bon¢fiL Grnnlmaklng Durfng ihe p8riod tho charty mad• 9ran18 to th• follcmlng organisations: st8pn9 Ston88 Play & Leam Essex Demenua Care Tendring Mo(181 Railway Club Computers for th• disabled Thg Klnelle Sd&n¢e Foun<Jation Walk Colcho8ter Elevator Arts CIC Th8 M8J About Th08lr• Co Fr••dtsrn Church lQn¥lugi HoFe Wellb81ng Prtsject The ATC Famlly R•8ource C•nire Happy HS11 Walton Communlty Centro Takiwatanga Support Services Col¢he$tar N8palaso Society Suffolk Loand Search & Reu8 Poppies Care Fam CIC FAYAP Christophar Cantr• Sudbury Ip$wfch Boxing Club Worlingworth Communty Centre Phoebg Centre Unitarian Meeting House Bury St Edmunds Kernos Centre Reach Out for Menial Heallh IP3 Ipswch Good Nolghbour S¢homo The Phab Shop Bungay Br$ £891 Young People T4ng Actlon £2.000 The Vol¢e Clc £1,200 Ipsv+ich Transport Museum £3,000 Colne Valley RAI9Y Preserv8llon Ltd £3,000 Th• Lock$ Inn Community Pub £3,01)0 Student £2.550 SARS £2,000 Rayne Vlllaotr Hall £3,000 Karfbu Afrlcan Women'8 Support £2,492 Group Loi$ton Land Community Trust Tom's Trust Moncap The Acè PrO1t Sudbury Hlve utt Acoms Pre&8chool Joonn8 Eden CIC Still Good Food Haughl•y PlaySNJ Fl•ldBorf• Club Ipswch BMX Club The Offshoot Fojndatton Primgdonn8 Festival MN Welkchitd Support Selig Suffolk Trust Halesworth & Dlstrfct Nluwm North Aven(te Youth Centre Old Newlon & DvJworih Village Hall Ilketshall Sl Lawren Pre-school £1,200 £1,500 £1,525 £1.000 £3.000 £3.000 £2,1C(I £3,OCQ £1,OQ) £1,8 £3.OCQ £2.orxs £1,5 £1,891 £1,000 £2,0 £1.OiXI £1,2 £3,OCQ £1,0 £2,OWJ £sso £1,000 £1,005 £1,014 £1,580 £3,OC £3,OC £3.OCQ £3.OCXJ £1.500 £1,SOO £1.800 £eoo £2.700 £3.OlJ) £1.5QJ £1.0(XJ £1.500 £1.5C Total £10S,378 ACHIEVEMENT AND PERFORMANCE Charftabl• activiti The obJectfve8 of the foundation have been 8uccessfulty tthieved. Page 2
THE TUDWICK FOUNDATION REPORT OF TrIE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021 ACHIEVEMENT AND PERFORMANCE Investmont pgrfonnan¢• Reflecting the signrftcanl recovery in stock markel confidence. the investm&nls have noticeably 0utp&rfoed and have fully recoved the Ioss 8hovm in last yeaf8 accounts and rthi show a satisfaOry gain over cost value8. FINANCIAL RVIIEW Pdnclpal lundlng 8our¢ The charitls princjpal soJr¢o of furmls 55 Colln Bennott. Invg•tm•nt pollcy and object It is the truslee8' polw that the capital K8 emrAoy•d to give an inccmo wNch 11 fund th8 grants. Thls 18 lound lft fir8t cla55 low geared Investment tnJst8 managed by thg ¥¢JIng Crty fvnd managers providing u8 wth relatively Snexp•n8ive expertlstt. as well 88 industn'al and geographical diversrflcation. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeum•nt The charlly 1$ controlled by it8 govemln9 dcumert a d88(l of trust and o)n8tltLrt•8 an Unincorp81od charfty. REFERENCE AND ADMINISTRATIVE DETAILS Regl8tered Charlty nurnb•r 1184439 Prlnclpal addr••• 17 Jam6B C8rter Rod Col¢he8ter Ess&x C03 9XA Tru•tts• C N 8ennett V R Shaikly J P Endacott T C B•nnett Ind•p•nd•nt Ex•mln•r Bak&r Chapman & Bussey Chartered Account8rrts 3 North Hill Col¢hesler E668x C01 1DZ Approved by wder ofthe board of tru$tg•$ on 18 March 2022 and $lgned on Its behalf by: C N Bennett- Truste8 Pa3
INDEPENDE EXAMINER'S REPORT TO THE TRUSTEES OF THE TUDWICK FOUNDATION Indèpendent •xaminerfs r•port to the twst••# ofThe Tudwlck Foundation I r8POrt to tho charity tste my examtnation of the 8ccc4mts of Th¢ Tudlc Fourmlatron (the Trust) for th8 year end&J 31 July 2021. Rgspon$ib115tles and basls of rgport As the charty trustees of the Trust you are $[8)19 for th? wep8ration of Ihe accounts In accordare vAth Ihe requlremgnts of the Chodtie8 Act 2011 Cthe A¢. I report in resp8(a of my examln¥tion of the Tru$f$ aUnts c4rried Éxrt under section 145 of the Act and in carylng out my examination I ha lollowed all appH¢able Dlrecllons en by th8 Charty cMIssion under section 145151{bl of the Act. Ind•pondtrnt •xarninerf8 gtat•ment I have complgted my examlnation. I confimi thot no material mattern hav• come to my attenlion In Connection wlh the examination giving me cause lo believe that in any maleriJ respoct.. •c¢ounting re¢crds were not kept In r8srt ofthe TSt as requlred by $8¢tlM 130 ofthe Act., or Ihg accounts do not 8ccord wth those rerS., or the o¢counls do not ¢LNnpty %wth the appucable r•quiffjments concerning the fom and ¢onlont of accounts sel out In th& Charttles (Accounts and Rwrts) RegulaIKS 2CK)8 other than afty wuirement that th8 aecounts glvè true and fair viow whi¢h 18 not a matt8r con$id$rod #s part of an Indep•nd8nt oxamln¥Uon. I have no cOnm$ and ha comfj 8tt088 no other matter8 in conn$Lon ¥Ath the examinalion to vthlch att•nllon 8hould be drawn In th18 report in order to enable a proper understanding ofth8 •ccounts to bts r¥ached. J4¢qutslln8 Fr08t Baker Ch8pm8n 8 Bus80y Charteréd A¢counlant• 3 North Hill Colcho$1 EeX C011DZ 18 M8rch 2022 Page 4
THE TUDIIACK FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021 Period 17.7.19 lo 31.7.20 Total funds Year Ended 31.7.21 Unr•strl¢tsd fund Notes INCOME AND ENDOWMENTS FROM Donation8 and legacies 125,OOS 2,C¥JO,030 Inve8lrnenl InoJm• 91.593 60,955 Total 216,598 2.060,985 EXPENDITURE ON Charitable actlvltl•¥ Grant maklng 110.149 e6.314 Nel galn8lllo$ses) on inv8Stmonts 591.294 {373,1681 NET INCOME 897,743 1.621,505 RECONCILIATION OF FUNDS ToLg1 fund8 brought forw•rd 1,621,505 TOTAL FUNDS CARRIED FORWARD 2,319,248 1.621.505 Thè notè8 form part ofthese finanaal stattments Page 5
THE TUDIVICK FOUNDATION BALANCE SHEET 31 JULY 2021 2021 Unrestrl¢ted fund 2020 Tot ftd8 Notes FIXED ASSETS Investments 10 1277,456 1,612.707 CURRENT ASSETS Debtors Cash al bank 4.783 41,449 19,238 46.232 19,238 CREDITORS Amounts falling dufj wthin one year 12 14.440} {10,4401 NET CURRENT ASSETS 41.792 TOTAL ASSETS LESS CURRENf UA8IUTtES 2.319,248 1.821.505 NET ASSETS 2,319.248 1,821,505 FUNDS Unrestrletsd fund8 13 2,319.248 1.021,505 TOTAL FUNDS 2.319.248 1,621.505 The flnanclal 8latem•nts were opproved by th• Board of Tru8iee8 and auth188 for188ue on 18 March 2022 and were Signed on i18 b8h8lf by. C N B¥nnett. Trusloe The notss form part ofthe¥e finawal staternents Page 6
THE TUDWICK FOUNDATION CASH FLOW STATEMETr FOR THE YEAR ENDED 31 JULY 2021 Poriod 17.7.19 lo 31.7.20 Year End 31.7.21 Cash flow8 from oper4ting aGtlvltlo Ca8h generated from operations Tax paid 8.856 14.7831 1,944,1SO Nel cash Proed by op•raling activ88 4073 1,944,156 Cash ftows from Inv•stlng aetlvitl•8 Purcha8e of fixed a$set Snvestrnents Movament on investm•nl ¢&8h bg18nce Dividends receiv8d If 43.819) 70,384 91,S93 {1,890,0911 {95,7621 60.955 Ng1 caBh provliJ8d byllu8ed in) Investing o¢lNWe8 18.138 {1.924.918} Chang& In cwsh and ¢•¥h •qu41•nI• In th• r•portlng p•riod Cash and ca•h equlval•nts at th• b•glnnln9 of th• rnportlng p•dod 22.211 19,238 19,238 Ca8h and cash •qulval•nts at th• •nd of thg r•portlng porlod 41,449 19.238 The noles form part of thèsè financial slatements Page 7
THE TUDWICK FOUNDATION NOTES TO THE CASH FLOW STATEMEKr FOR THE YEAR ENDED 31 JULY 2021 RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTvrfrriES Period 17.7.19 Year End 31.7.21 31.7.20 N•t Incom• forth• rwrtlng p•rlod (as per tho Stat•m•nt of Flnan¢l*l Actlvltieg) Adlu9tment• far. IGain}nosses on investrnerts Oividends re¢elved IDecr6•seYincro88e in ¢r¢dltof8 697,743 1.627,505 1591.294) 191.5931 {8,0(M)I 373.1e6 160,955) 10,440 Not ca•h provld•d by operntlon• 8,856 1.944,156 ANALYSIS OF CHANGES IN NET FUNDS At 1.8.20 C08h fiow At 31.7.21 Net ¢a•h Cash at b#nk 19.238 22,211 41.449 19,238 22.211 41,449 Total 19,238 22.211 41.449 The notes form part oflfwe fin8nci818talements P4ge 8
THE TUDWICK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021 ACCOUNTING POUCIES Ba$l¥ of preparing thè financlal 3tatements The financial $lalemenls of the charity, which Is a publlc benefrt entity under FRS 102, have been prepared in accordance with Ihe Charflies SORP IFRS 1021 'AUntIng and Reporting by CharEOg8'. Slalemenl of ReLxJmmended Prath"ce applicable to chanues preparing their accounts in accord8nce Mth the Financial Reporting Stsndard app14cable in the UK and Republlc of Ireland {FRS 102118ffective 1 January 20191. Finaneial Reting Standard 102 Tr Finanal ReFwUng Standard applicable in the UK and Republic of Irelanrt and the Charities Act 2011. The fin•ncial ststements have been wepared under th¢ hl8lorical e08t ¢onvention, with the excepti of invesknents which are included al matkftl value. as modffied by the rèvaluation of c&rtain a¥sets. Incom• All income 18 re¢ogni8ed In th• Ststem8nl of Fln4wal Actknli88 onLX the ch•nty has enfjtternant lo th8 fvnds. 1$ probabje that the Incom• VAII be recebKd and the •mnt can be measur•d reljabty. Expendltufg Llabllllie8 are Te¢ognised as ?¥pendiluro aB 8OC41 •B there 1$ a al or consthJctiv8 obllg#llon commlttlng tho charfty to th81 expendrture. it 18 probable Ihat a transfer of g¢onomic benefits wtll be wulrtrd in settl•menl and the omount ol the oblallOn can be measured reliabty. EXp¢nd1tu is accounted for on an a¢¢rualB bas1$ and has been classified under headings that a99gate all ts)st related to the ¢8tegory. Where costs cannot b• dlreclty attribuléd to partlcular h8ading8 thoy have bgen allocated to xtMtl•8 on a baBI8 con¥l8tent wllh the u8• of r•$ouregS. GNntB offored •ubleGt lo corKlilion$ whKh havo not b80n mot at th• yaar end dat• Are notsd 88 a commltment but not accrued as exFndftur•. T•xatlon The ¢harity 1$ •x•fflpt from tax cffl Ft8 charfibl• a¢UvlO#. Fund occountlng Unf88trleled fund8 can b• used in accord llh th8 charttablo obiecllv88 41 th8 dI$on of th8 tru8ts8B. Re8lrtct8d lund8 can Only b• u8•d for particular re8lrf¢t purpw8 wlthln th• object8 of the charlty. Re81ricllon8 arf8• when specllled by the donor or Wt fttnd8 are r8i8•(I for partl¢ular restrlrtgd purpo888. Furthor •xplanaUon of the nolure and purpo8e of each fund Is InchJded In lh• noleB to th• financlgl st8twnenl8. DONATIONS AND LEGACIES Perlod 17.7.19 to 31.7.20 Y••r EDd•d 31.7.21 Donatlon8 Donateil 8ervice8 and fadlths 125.005 2,OCQ.OL)O 125,005 2,LIJO,030 Page 9
THE TUDWICK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢ontSnued FOR THE YEAR ENDED 31 JULY 2021 INVESTME INCOME Period 17.7.19 Year Ended 31.7.21 31.7.20 Othet flxed asset inv- UnFII 91,593 80,955 CHARITA3LE ACTIVITIES COSTS Grant funding of activrttes ($08 note 5) Support ¢08ts18ee note 81 Total8 Grant maklng 105,378 4.771 110.149 GRANTS PAYABLE Perlod 17.7.19 lo 31.7.20 Y••r ErKl•d 31.7.21 Grant making 105,378 62.394 Ouring th• perfod the charlty made donations of up to £3.(KJO to a vartety of small org8nl8allon$, mainly in Essex and Suffolk, lo fund $ifiC and well defined pro1t$ intend8d to further tho ¢haritl$ objects of advanclng edue¥lion. piolectlng mgntsi and phys wdkhing and relien9 of povety and 8t¢kn8u. SUPPORT COSTS Management Gov•mancg COB18 Finan Totsl8 Grant m8klng 3.070 261 1,440 4,771 TRUSTEES, REMUNERATION AND BENEFIT8 There were no tru$lees' r•muner•lk>n LY other benefiis for th8 year ended 31 July 2021 r¥Jr fDr thg perrod ded 31 July 2020. Tru8t•' eXne Th•m *tre no trtee$, weftsos paid fwthe year ended 31 Juty 2021 norf¢v tho parlod ended 31 Juty 2020. Pa99 10
THE TUDWICK FOUNDATION NOTES TO ThE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 JULY 2021 STAFF COSTS Period 17.7.19 to 31.7.20 Yr Endod 31.7.21 Wa9e8 and 8•18ri 2.794 2.091 2,794 2.091 The average monthty number of employeas durtng the y¢&rw•s as folkm.. P•rfod 17.7.19 lo 31.7.20 Yo•r End•d 31.7.21 Managew*nl No gmployees recelvèd omoluments in •xc888 of £,fAJ. COMPARAnVES FOR ThE STATEMENT OF FINANcL ArnES Unroslrictgd fun¢J INCOME AND ENDOWMENTS FROM Donations and legacig$ Investment Income 2,C()0.030 60.955 Tot•1 2,000,985 EXPENDITURE ON Charttabl• actlvltle• Grant making Nel galn8111088881 on Investments NET INCOP4lE 88,314 {373,166) 1.621.SOS TOTAL FUND3 CARRIED FORWARD 1,821,505 10. FIXED ASSET INVESTMENTS 2021 2020 Shares Olh8T 2.252.038 25,418 1,516,925 95.782 2.277.458 1,612.707 Page11
THE TUDIMCK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- c¢•ntinued FOR THE YEAR ENDED 31 JULY 2021 10. FIXED ASSET INVESTMENTS - contlnued AddKional infonnation as fo1lcN'. Usled Investrnents MARKET VALUE Al 1 August 2020 Additions Revaluatlon8 1,S16.925 143,819 591,294 Al 31 July 2021 2.252,038 NET BOOK VALue Al 31 Juty 2021 2,252.038 AI 31 JLtly 2020 1.516,925 There wer¢ no investment assets OLrt81de the UIL l or valuation •131 July 2021 b8 rewesentod by". Ll•t•d Inv•stment• Valuation in 2020 Valuation in 2021 Cost {373,1661 591,294 2,033,910 2.232,038 Inv•8tments In•lher118t•d nor unlt818rf) wero •8 folkn*s: 2021 2020 C84h 25.418 95.782 11. OEBTORS: APAOUNTS FALUNG DUE wJTrnN ONE YEAR 2021 2020 Tax 4,783 Page 12
THE TUDWICK FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- ¢ont[n[d FOR THE YEAR ENDED 31 JULY 2021 12. CREDITORS: AMOUNTS FALUNG DUE I%TfHIN ONE YEAR 2021 2020 Olher cred11018 10.440 13. IOVEMENT IN FUNDS Net movement In fund$ At 31.7.21 At 1.8.20 UnrgstrSctsd lund• Gort¢ial fund 1.621.50S 897.743 2,319.248 TOTAL FUNDS 1.621.505 097.743 2,319.246 Net mov•m¢nl In *Jnd$, thcluded In th8 8b)ve are a8 follcw4: Incomlng Resourc¥s txpended Gains and lo$$es Mov•m•nt In fund8 Unre8trlct•d fund• Gtrneral fund 218.598 1110,149) 591,294 697,743 TOTAL FUNDS 218.598 1110,149} 091.294 697,743 comparnt1¥ lor mov•m•nt In fund• Net movement In fvr¥Js Al 31.7.20 Unro8trlcted fund8 Gèneral fund 1.621,505 1,e21,505 TOTAL FUND8 1,821,505 1.021,50 Comparotfv• n•t movement In lund8. Inthded the above are 88 f(AIow8". Incomin9 resources Resources eypended Gains and Ios8OS Movement In fund$ Unr9•tr1et•d fvndrj Genero1 fvnd 2.c,98$ (ee,314) 1373.188) 1.621,505 TOTAL FUNDS 2.060.985 (e6,314) (373,166) 1.621,505 Pag¢ 13
THE TUDWCK FOUNDATION NOTES TO THE HNANCIAL STATEMEKfs- continued FOR THE YEAR ENDED 31 JULY 2021 14. RELATED PARTY DISCLOSURES During tho y98r the charity receNed donali¢ns trrtalling £125.000 12020." £2.(W.() from C N Bennett, a Iruslee. Page 14
THE TuDVCK FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021 Periud 17.7.19 lo 31.7.20 Y••r Ended 31.7.21 INCOME AND ENDOWMENTS Donatlons and legacl•• Donation8 Donated SeNe$ and facil08 125.OOS 2.OOD.000 30 125,005 2.000.030 Inve•knont Incom• Other fixed 886el inv- UnFII 9f.593 60,9S5 Total In¢omlng r••ourc 216.598 2,060.985 EXPENDITURE Charltablo 4Ctlvlti Grants lo In$liluliori8 Grants to IndlvSdu•li 105.378 3.054 105,378 62,394 Support coBts Managemfrnl Wages Po$l¥ge and stabonory Sundrtes 2,794 2,091 60 179 276 3.070 2.330 Flnanc• Bank charge8 281 150 Gov•Tnanc• ¢ts Auditors. remuneration Auditors. remun8ratlon for non audtt vAMk Accountancy fe 800 1,440 Tol81 re80UIC88 8xponJed 110,149 68,314 N•t Incom• 106,449 1,994,671 This page doe5 notforni part oflhe stslutory ffinanc4al statements Pa96 15