2021-12-31-accounts

Contents		Page
Statutory Information
Trustees' Report		3-8
Independent Auditor's	Report to the Trustees	9-12
Statement ofFinancial	Activities	13
Balance Sheet		14
Statement ofCash Flows		15
Notes to the Financial	Statements	16-22

			The Sigrid Rausing Trust	The Sigrid Rausing Trust
			Statutory Information
Title			The Sigrid Reusing Trust
Registered	Address		12Penzance Place
			London
			Wl 1 4PA
Trustees			Sigrid Reusing
			Andrew Puddephatt
			Chris Stone
			Jeffery Jowell
			Geoffrey Budlender
			Joshua Mailman
			Mabel van Oranje
			Hosh Ibrahim
			Ruth Rogers
Date ofEstablishment			22 January 2021
Bankers			HSBC Private Bank
			8Cork Street
			London
			W1S3LJ
			Santander Corporate Bank
			Santander House
			100Ludgste Hill
			London
			EC4M 7RE
Legal Advisers			Bates Wells and	Braithwaite
			10Queen Street	Place
			London
			EC4R 1BE
Independent	Auditors		Moore Kingston	Smith LLP
			Devonshire House
			60Goswell Road
			London
			EC1M 7AD
Investment	Advisers		Cambridge Associates
			62 Buckingham	Gate,
			London,
			SW1E6AJ
Charity Registration		Number	1194828
Company Registration		Number	13152028

			Unrestricted	Expendable	Period ended
			Funds	Endowment	31December
		Notes		Fund	2021
Income and endowments
Donations			7,000,000		7,000,000
Gifts ofexpendable				133,000,000	133,000,000
endowment
Transfer ofassets	and		(20,070,159)		(20,070,159)
liabilities
Total Income and			(13,070,159)	133,000,000	119,929,841
Endowments
Expenditure on Raising
Funds
Investment Management				13,045	13,045
Costs
Expenditure
Grants Awarded			16,636,700		16,636,700
Support Costs			411,795		411,795
Governance Costs			45,346		45,346
			17,093,841	13,045	17,093,841
Total Expenditure			17,093,841	13,045	17,106,886
Net loss on Investments		9		28,548	28,548
Transfer between	funds	14(b)	30,164,000	(30,164,000)
Net movement in	funds				102,794,407
Total Funds Carried
Forward
At 31"December	2021			102,794,407	102,794,407

		Notes	2021	2021
FIXEDASSETS
Tangible fixed assets				11,708
Investments				132,971,452
				132,983,160
CURRENT ASSETS
Debtors		10	25,450
Cash at bank and in hand			10,539,073
			10,564,523
CREDITORS: amounts	falling due within one
year
Creditors			29,793,276
NET CURRENT ASSETS				i19,228,753)
TOTAL ASSETSLESSCURRENT				113,754,407
LIABILITIES
CREDITORS: amounts	falling due after one
year
Creditors		12		10,960,000
NET ASSETS				102,794,407
FUNDS
Expendable endowment	funds	14		102,794,407
Total Funds				102,794,407

			Notes			2021
Net cash inflow from operating	activities		(A)			129,546,225
Net cash outflow from investing	activities		(B)			(133,000,000)
(Decrease)/increase in cash in	the period		(C)			(3,435,775)
A) Reconciliation ofnet incoming		resources to				2021
net cash outflow from operating		activities
Net income for the year						102,794,407
Transfer ofassets and liabilities	(see	note 2)				20,070,159
Depreciation						2,160
Loss on investments						28,548
Increase in debtors						(6,356)
Increase in creditors						6,675,307
Net cash inflow from operating	activities					129,564,225
B) Net cash outflow from investing		activities				2021
Cash invested in investment portfolio						133,000,000
C) Analysis of changes in net	cash	funds
				Cash on transfer		At 31
				6 October 2021	Cashflows	December 2021
Cash and cash equivalents				13,974,848	(3,435,775)	10,539,073

046769)for the	year ended 31December 2	020 and for the period from I January 2021 to	5 October 2021.
		Period from IJanuary	Year ended 31
		to 5October 2021	December 2020
Income		3,981,466	33,128,713
Expenditure		(25,811,287)	(34,272,734)
Net assets transferred		20 070 159
Net movement	in funds	47,759,6627	(1,144,021)
		As at 5October 2021	As at 31December
			2020
Fixed assets		18,775	12,128
Current assets		13,989,037	42,597,047
Liabilities		~34077970	~40 049513
Net (liabilities)	/ assets	(20,070,159)	1,759,662
Total funds		(20,070,159)	1,759,662

5. SUPPORT COSTS	5. SUPPORT COSTS	5. SUPPORT COSTS	October to December 2021
StaffCosts (see note		7)	378,901
Rent, rates and service charges			8,793
Other			24,101
			411,795
6. GOVERNANCE		COSTS	October to December 2021
Consultancy	Fees		23,129
Audit fee			14,790
Accountancy	fees		6,300
Legal fees			1,127
			45,346
7. STAFF COSTS			October to December 2021
			8
Salaries			294,234
Employers'	national	insurance	29,418
Pension and	Death in	Service Contributions	28,322
Other staff costs			26,927
			378,901

		Fittings and
		Equipment
Cost at 22 January 2021
Additions		13,868
At 31December 2021		13,868
Depreciation
Charge for the year		2,160
At31December 2021		2,160
Net book value
At 31December 2021		11,708
9. INVESTMKNTS		2021
Investment additions		133,000,000
Net movement in investment	cash balances
Net losses on investments		(28,548)
Market value at 31December	2021	132,971,452
Historic cost at 31December	2021	133,000,000
Investments at period end were made up as follows:		2021
		8
UK equities		40,161,006
Hedge funds		17,300,000
Cash		75,510,446
Total		132,971,452
Portfolio Management		2021
		8
Cambridge Associates		9,457
Northern Trust		3,588
Net charge to SOFA		13,045

10. DEBTORS		2021
Trade debtors		360
Prepayments		24,972
Other debtors		118
		25,450
11.CREDITORS		2021
Trade creditors		38,059
Grants payable		29,596,200
Accruals		101,544
Taxation and social security		39,335
Pension		18,138
		29,793,276
12. GRANT COMMITMENTS		2021
Forward commitments	at the date oftransfer	35,451,200
Commitments made during the period		16,511,700
Adjustments re Grants	made	(30,000)
Amounts paid during the period		(11,376,700)
Forward commitments	at 31December 2021	40,556,200
Split as follows:
Amounts due within one year		29,596,200
Amounts due after one year		10,960,000
		40,556,200

14a.	ANA	LYSIS OFNKT	AS	SETSBETWEEN FUNDS	SETSBETWEEN FUNDS	SETSBETWEEN FUNDS
				Investments Tangible			Other Net		Total Funds
					Fixed	Assets	Liabilities
					8
Endowment		funds		132,971,452		11,708	(30,188,753)		102,794,407
Unrestricted		funds
Total	funds			132,971,452		11,708	(30,188,753)		102,794,407
14b.	RECONCILIATION		OF	FUNDS
		Funds		Incoming	Resource	Transfers		Gains	Funds c/fwd
		b/fwd	at	Resources	Expensed			and	at31.12.21
		1.1.21						. Losses
			8	g
Endowment Unrestricted		funds funds		133,000,000 ~73,070, 759	13,045 17,093,841	(30,164,000) 30,164,000		(28,548)	102,794,407
Total	Funds			119,929,841	17,106,886		-	~28,548	102,794,407

		2021
Land &Buildings
Due not later than one	year	10,024
Due not later than one	year but not later than five years	616
Total future minimum	lease payments	10,640