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||PAGE|
|---|---|
|REFERENCEAND ADMINISTRATIVEINFORMATION|3|
|REPORTOFTHETRUSTEES|4-l|
|REPORT OFTHE INDEPENDENTAUDITOR TO THETRUSTEES|8-9|
|STATEMENT OFFINANCIAL ACTIVITIES|10|
|BALANCESHEET|11|
|NOTESTO THE FINANCIALSTATEMENTS|t2-17|





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||Notes|2021|2020|
|---|---|---|---|
|||€|f|
|||Unrestricted|Unrestricted|
|INCOME AND ENDOWMENTS FROM:||||
|lnvestments:||||
|- lnvestment income||179,5s3|L80,342|
|-lnterestreceivable||35|s33|
|Otherlncome-transferfrom||||
|MrsHLGrimwade Charitable Trust|||39|
|Total||L79,589|180,914|
|EXPENDITUREON:||||
|Raisingfunds||||
|- lnvestment managementfees||34,502|31,828|
|Charitable activities||288,946|237,344|
|Total||323,448|269,172|
|NET!NCOME/(EXPENDITURE)BEFOREINVESTMENT GAINS||(143,859)|(88,2s8)|
|NET GArNS/(LOSSES)ONTNVESTMENTS||698,L77|(361,900)|
|NETINCOME/(EXPENDITURE)||554,318|(4s0,1s8)|
|FUND BAT.ANCEBlFArIAUGUSr 2020||5,O76,477|s,s26,63s|
|FUNDBATANCEC/F AT 31JULY2021||5,530,795|5,076,477|





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|INVEST|MENT INCOMEANDINTEREST RECEIVABTE|||
|---|---|---|---|
|||2021|2020|
|||€|f|
|lncome|fromListedlnvestments|||
||Fixedlnterest:UK|39,650|41.,666|
||Fixedlnterest:overseas|LO,O70|10,689|
||UKEquities|65,201|64,787|
||OverseasEquities:Asia&North America|L2,653|L5,709|
||OverseasEquities: Europe/Emerging Markets|lo,49t|6,4t7|
||AlternativeMarkets: Property|13,409|11,742|
||AlternativeMarkets:lnfrastructure|24,580|23,842|
||AlternativeMarkets: Private Equity|3,89|5,490|
|||179,553|L80,342|
|lnterest|Receivable|||
||COIFCharities DepositFund||479|
||QuilterCheViotlncome Account||64|
||QuilterCheviotEuroAccount||(10)|
||||533|
|OTHER|INCOME|||
|||2021|2020|
|||f|f|
||MrsHLGrimwade Charitable Trust||39|



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||||202L|2020|
|---|---|---|---|---|
||||€|e|
||Grantspayableto lnstitutions(a,b)||216,760|L66,450|
||Grantstolndividuals(c)||lt,250|27,OOO|
||Grant|administrationcosts|27,487|30,508|
||Governancecosts(d)||L3,449|13,386|
||||288,946|237,344|
||(a)|General Charitable Donations|50,500|31,200|
||(b)|Bursaries&ScholarshipstoSchools/Colleges|t86,260|135,250|
||(c)|Directly Aided Students &SinglePayment Grants|l,.,25o|27,OOO|
||||248,010|193,450|
|(al|General||||
||There|were 2 Donations off5,000or more(2020:3)|||
|||Bishopsland Educational Trust(BursaryFund)|5,000||
|||LAMDA(BursaryFund)|5,q)0||
|||St Paul's School(BursaryAppeal)||s,000|
|||Society of Antiquaries of London(KelmscottManor)||s,000|
|||TISCA(ThelndependentSchoolsChristian Alliance)||5,000|
||||10,000|15,000|
||Donations under €5,000 weregivento39 charities(2020:31)||40,500|t6,700|
|||TotalGeneralDonations|50,500|37,200|





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|Bursaries & ScholarshipstoSchoolsand Colleges|Bursaries & ScholarshipstoSchoolsand Colleges|202L|2020|
|---|---|---|---|
|||f|€|
|1|St Paul's School(Bursary& Creative Arts Awards)|24,OOO|24,000|
|2|Byam Shaw SchoolofArt,CSM(UAL)|7,500|7,500|
|3|WestDean College|12,000|7,000|
|4|Textile Conservation Foundation|10,000|7,500|
|5|TheRoyalAcademyofArtSchools|12,000|12,000|
|6|Royal CollegeofMuslc|5,500|5,500|
|7|GuildhallSchoolTrust|10,000|10,000|
|8|RoyalNorthernCollegeofMusic|5,000|5,000|
|9|Bishopsland Educational Trust|15,000|11s00|
|10|TrinityLabanConservatoire|10,010|5,000|
|7t|Bristol OldVicTheatreSchool|s,000|s,000|
|12|GuildfordSchoolActing, Surrey University|5,000|5,000|
|73|RADA|s,000|5,000|
|L4|London ContemporaryDance School|5,000|5,000|
|15|LAMDA|5,000|5,000|
|16|CourtauldlnstituteofArt|5,000|s,000|
|17|city& GuildsofLondon ArtSchool|5,000|5,000|
|18|WimbledonCollegeofArt,UAL|5,250|5,250|
|19|SouthHouse SilverWorkshop Trust|5,000||
|20|RoyalWelshCollegeofMusic&Drama|s,000||
|2l|RambertSchoolofBallet|5,(x)0||
|22|ContemporaryBritishSilversmiths|20,000||
|||186,260|135,250|



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|Areconciliationofthegrants payableandgrantawards showninthese acc|ountsis asfollows:||
|---|---|---|
||202L|2020|
|crantliabilities atlAugust 2020|166,9r7|196,550|
|Awards madeinthe year|248,OLO|r93,450|
|Grants payableforthe year|4t4,927|390,000|
|Grantspaidduring theyear|(22O,74O1|(223,083)|
|Grantliabilities at31July 2021|t94,LA7|t66,9L7|
|Liabilities at31JulyZOZLarepayableasfollows:|||
|Withinone year (note9)|194,187|166.9t7|
|Aftermorethanoneyear (note9)|||
||194,187|166,9L7|
|(d)GovemanceCosts|2021|20zo|
|Auditand accountancyfees|3,567|3,480|
|Legal&professional fees||3,396|
|Consultancy: Website&Logo|3,975||
|Administrative fees|s,76s|6,510|
|Trustees'expenses|142||
||t3,M9|13,386|





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|IIIVESTMENTS|||
|---|---|---|
||202t|2020|
|Movements in listed investments during theyearwereasfollows:|f|E|
|Market value at31July2020|4,92t,964|5,372,748|
|Additions at cost|274,727|601,160|
|Disposalsat opening market value|1323,9771|(821,s03)|
|[realisedprofit:C39,522(2020:loss|||
|(f131,4ss)l|||
|Net unrealised gains/(losses)inthe year|658,655|1230,4/.tl|
|Market value at31 July2021|5,531,369|4,92t.964|
|Costof listed investments at31July2021|3,883,853|3,984,678|
|All investments weredealtin onarecognised stock exchange|||



|d investments held at3lJuly2o2L comprised thefollowing:|||
|---|---|---|
||202L|2020|
||E|f|
|Fixedlnterest:UK|8L5,997|821,989|
|Fixedlnterest:Overseas|320,L60|378,440|
|UKEquities|t,574,543|1,338,605|
|OverseasEquities: Asia&North America|t,4to,s33|7,74t,488|
|OverseasEquities: Europe&Emerging Markets|4L2,663|332,847|
|AlternativeMarkets: Property|331,005|341,479|
|AlternativeMarkets:lnfrastructure|591,928|479,759|
|AlternativeMarkets: Private Equity|74,500|747,3Sl|
||5,s31,369|4,92L,964|



|followingholdings comprisedamaterialholding when comparedto thevalue of thetota<br>July2021|llistedinvestment portfolio|
|---|---|
||%ot|
||portfolio|
|BaillieGiffordUSGrowth Trust|6.7%|
|Sequoia Economiclnfrastructurelnc Fund LtdNPV|s.6%|
|PimcoGlobalAdvisorslrlLtdGlobal lnvestments|4.t%|
|GCPlnfrastructurelnvestmentsLtdord€0.01|3.8%|





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|DEBTORS||||
|---|---|---|---|
|||2021|2020|
|||€|f|
|Accruedlnvestmentlncome||2,451|2,472|
|CASHAT BANKAND INHAND||||
|||2021|2020|
|||f|e|
|CHoare &Co.|Current Account|27,690|24,06r|
|QuilterCheviot|Capital Account|(5101|98,013|
||lncome Account|20,315|r52,986|
||EuroAccount||864|
|COIFCharities DepositFund|DepositAccount|247,485|46,45O|
|||294,880|322,374|
|CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR||||
|||202L|2020|
|||f|E|
|Grant liabilities(a, b&c)||t94JA7|t66,9L7|
|Grantadministration& governance|costs|214|3|
|Auditors'remuneration||3,s00|3,473|
|||197,90s|170,333|
|(a)General Charitable Donations|||3,000|
|(b)Directly Aided Students &SinglePayment Grants||t,-,250|27,000|
|(c)Bursaries&ScholarshipstoSchools/Colleges||L82,937|t36,977|
|||t94,ta7|766,9L7|



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|||Balanceat|New|Utilised|Balanceat|
|---|---|---|---|---|---|
|||01-Aus-20|Desianatlons||3l-Jul-21|
|||E|f||f|
|DesisnatedFund|2027|4,575,W|550,ofi)||5,125,000|
|||Balanceat|New|Utilised|Balanceat|
|||01-Aue-19<br>C|Designations<br>E|E|31-Jul-20<br>f|
|DesignatedFund|2O2O|5,02s,000|(4s0,000)||4.575.000|





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|Fund balancesat31July 2021 arerepresentedby:||202L||
|---|---|---|---|
||General|Desienated|Total|
||Fund|Fund|2020|
|Listed lnvestments|406,369|5,125,000|5,s31,369|
|Currentfusets|297,33t||2i97,331|
|Creditors: amounts falling duewithin1year|(197,90s)||(197,90s1|
|Creditors: amounts falling dueafter1year||||
||505,795 5,125,000||5,530,795|



|Fund balancesat31July 2020were representedby:||2020||
|---|---|---|---|
||General|DesiEnated|Total|
||Fund|Fund|2019|
|Listed lnvestments|346,964|4,57s,000|4,92L,964|
|CurrentAssets|324,846||324,846|
|Creditors: amounts falling duewithin1year|(170,333)||(170,333)|
|Creditors: amounts falling dueafter1year||||
||50t,477|4,575,OOO|5,076,477|



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