2021-02-07-accounts - Scouloudi Foundation

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		Page
Trustees' Report		1-4
Independent Auditors'	Report	5-7
Statement of Financial	Activities
Balance Sheet
Notes to the Financial	Statements	10-16

							Permanent
			Unrestricted		Funds	Endowment		Total	Total
			General	Designated			Fund	2021	2020
		Notes			E
INCOME FROM
Income from Investments			155,937					155,937	200,152
Total Income			155,937					155,937	200,152
EXPENDITURE ON
Raising Funds			61,057					61,057	63,642
Charitable Activities			91,743		45,635			137,378	194,888
Total Expenditure			152,800		45,635			198,435	258,530
Net Income/(Expenditure)	before
gains and losses on Investments			3,137		(45,635)			(42,498)	(58,378)
Net (losses)/gains on Investments		3	(1,749)				(92,663)	(94,412)	973,305
Net Income/(Expenditure)			1,388		(45,635)		(92,663)	(136,910)	914,927
Gross transfers between	Funds:
Historical Awards Fund			(49,159)		49,159
NET MOVEMENT IN FUNDS			(47,771)		3,524		(92,663)	(136,910)	914,927
Fund balances brought forward at 8 February 2020			80,948		65,580		8,629,191	8,775,719	7,860,792
Fund balances carried
forward at 7 February 2021			33,177		69,104		8,536,528	8,638,809	8,775,719

		Note		2021		2020
FIXEDASSETS
investments				8,536,528		8,660,362
CURRF NT ASSETS
Cash at bank and on deposit			113,430		142,767
Debtors			3,090
			116,520		142,767
Creditors: Amounts falling
due within one year
Creditors			5,700		11,710
Historical Awards					15,700
			14,239
NET CURRENT ASSETS				102,281		'115,357
TOTAL ASSETSLESSCURRENT
LIABILITIES				8,638,809		6,775,719
TOTAL NET ASSETS				8,638,809		8,775,719
THE FUNDS OF THE CHARITY
Unrestricted Funds:
General Fund		7				80,948
Designated Fund - Historical Awards		7				65,580
				102,281		146,528
Permanent Endowment Fund				8,536,528		8,629,191
TOTAL CHARITY FUNDS				8,638,809		8,775,719
Approved by the board oftrustees ~ K-~I- mrs Sarah E.Baxter, Trustee	and	signed on its behalf by ~ I)~ ~ Date

Prl	Accounting Pollciee
(a)	Basis ofaccounting
	The financial statements have been prepared in accordance with Accounting and	Reporting
	by Charities: Statement of Recommended Practice for charities (Second Edition.	effective,	1
	January 2019)and Financial Reporting Standard 102.
	The Foundation meets the definition ofa public benefit entity under FRS 102.The Foundation
	is a Trust constituted by a Deed ofTrust under English law. The Charity's principal address
	and administrative address is at 10Queen Street Place, London, EC4R 1AG. Assets and
	liabilities are initially recognised at historical cost or transaction value unless otherwise stated
	in the relevant accounting policy notes.
(b)	Going Concern
	The covid 19pandemic has had a detrimental effect on the Trust's investment income and
	there remains uncertainty regarding the future level ofthe investment income. However, all		of
	the Trust's distributions are discretionary and with the exception ofthe award to the Institute
	of Historical Research no distribution commitments have been given for the year	ending 7
	February 2022 or subsequent years. Consequently, the trustees are able to manage the
	Trust's financial affairs to accommodate any reduction in its income. Agreed procedures are in
	place to ensure donations are only awarded at a sustainable level and that a prudent level of
	unrestricted general reserve is maintained. Given the level ofthe Trust's general	reserve the
	Row ofinvestment income and the discretionary nature ofthe Trust's distributions	the trustees
	consider the Trust, which is a public benefit entity, to be a going concern for the forthcoming
	year and the foreseeable future.
(c)	Investments and Financial Instruments
	The Trust holds only basic financial instruments, which are held as listed investments.
	Investments are stated at middle-market values ruling at the balance sheet date.
	A continuous revaluation approach is adopted for investment assets. All realised	and
	unrealised gains and losses on the revaluation and disposal ofinvestment assets	are
	induded in the Statement of Financial Activities and in the notes to the accounts.
(d)	Income
	Income arising from investments is accounted for when it is receivable.
(e)	Donations
	Regular and Special donations and Historical Awards are charged to the Statement of
	Financial Activities when awarded and a commitment is entered into.
	Expenditure
	Expenditure is recognised on an accruals basis. Governance costs comprise those for the
	running ofthe charity.
(g)	Investment management fee
	The investment manager's investment management fee is charged to income. In	prior years
	the fee was charged to the Permanent Endowment Fund and as detailed in note	2 no
	adjustments are required to the prior year figures to reflect this change in treatment.
(h)	Permanent Endowment Fund
	The Endowment Fund represents those assets which must be held permanently	by the Trust.
	Income arising on the endowment fund can be used in accordance with the Trust's objectives
	and is included as unrestricted income. Any capital gains or losses arising on the	investments
	form part ofthe fund.
	Designated Fund
	An amount off49,159has been allocated from the Trust's net income for the year ended 7
	February 2021 (2020:F60,308)for potential Historical Awards to be made during	the following
	accounting year depending on suitable applications being received. This amount	has been
	transferred from the General Fund to the Designated Fund in the financial statements for the
	year ended 7 February 2021.
	Historical Awards are awarded by the Institute of Historical Research, University	of London.
	Historical Awards which are not paid within a two year period lapse and are re-credited to the
	designated fund.

4	(a)	Analysis of Fund Balances	Analysis of Fund Balances	Analysis of Fund Balances	Between	Between	the Net	the Net
		Assets for the year ended			7February			2021			Unrestricted	Permanent
											Funds	Endowment				Total
													Fund E			Fundsf
		investments										8,536,528			8,536,528
		Net current	assets								102,281				102,281
											102,281	8,536,528			8,638,809
4	(b)	Analysis of Fund Balances			Between		the Net
		Assets for the year ended			7February			2020			Unrestricted	Permanent
											Funds	Endowment				Total
													Fund			Funds
																E
											31,171	8,629,191			8,660,362
		Investments									115,357					115,357
		Net current	assets
											146,528	8,629,191			8,775,719
5		Creditors: Due within		one year
											Unrestricted			Unrestricted
											Funds					Funds
											E					K
											2021					2020
		Administration		(Unrestricted)							2,700					2,700
		Regular Donations			(Unrestricted)											6,250
		Audit (Unrestricted)									3,000					2,760
											5,700					11,710
6		Raising Funds									Unrestricted			Permanent
											Funds			Endowment
											2021				Fund 2020
																E
		Investment	Management			fees					61,057					63,642
											61,057					63,642
		As detailed	in	note 2the		investment			management		fee has been charged to unrestricted					funds
		in the current		year	whereas		it	was previously		charged to the Permanent			Endowment		fund.
7	(a)	Fund Analysis									Movements in income	Movements in expenditure
											including	and transfers
											transfers
											in	&Investment			Balance at
													losses	7Feb 2021
										F			F
		Permanent	Endowment			Fund			8,629,191				(92,663)		8,536,528
		General Fund							80,948		155,937		(203,708)			33,177
		Designated	Fund						65,580		49,159		(45,635)			69,104
									8775	719	205,096		(342,006)		8,638,809

Analysis				Movements in
				income	Movements in
				including	expenditure
				transfers	and
			Balance at	in &	transfers out	Balance at
				investment
			8Feb 2019	gains		7Feb 2020
				F	E
Permanent	Endowment	Fund	7,719,528	973,305	(63,642)	8,629,191
General Fund			77,734	200,152	(196,938)	80,948
Designated	Fund		63,530	60,308	(58,258)	65,580
			7,860,792	1,233,765	(318,838)	8,775,719

8 Decennial	Financial Record		Y	ear ended
			7	February
	1963	1973	1983	1993	2003	2013	2021
	F	E	F		E		F
Permanent	55,186	477,385	1,156,290	3,380,405	3,909,393	5,995,385	8,536,528
Endowment
Fund
Total Income	1,931	12,237	70,853	193,490	217,812	223,146	155,937
indirect	(53)	(474)	(6,118)	(42,056)	(26,086)	(20,018)	(84,550)
Expenditure
Net income	1,878	11,763	64,735	151,434	191,726	203,128	71,387
Donations:
Historical		5,000	32,000	60,000	65,562	66,788	45,635
Awards
Regular	730	4,625	16,000	60,000	98,500	121,500	68,250
donations
Special	695	1,140	15,000	29,700	29,000
donations
	1,425	10,765	63,000	149,700	193,062	188,288	113,885
Cumulative
total
ofdonations	1,425	69,904	410,214	1,535,714	3,325,093	5,362,472	6,773,821

Analysis ofCharitable Expenditure	Regular	Special	Historical	Total	Total
	Donations	Donations	Awards	2021	2020
	E	E	E	E	E
Children &Youth
Shooting Star Chase	4,000			4,000	5,000
Southside Young Leaders' Academy	2,000			2,000	3,000
Straight Talking Peer Education	4,000			4,000	5,000
	10,000			10,000	13,000
Environment &Humanities
British Records Association	1,250			1,250	1,250
Campaign to Protect Rural England	2,000			2,000	3,000
Friends ofthe National Libraries	2,000			2,000	3,000
Historical Association	1,250			1,250	1,250
University ofLondon, Institute
of Historical Research	5,000		45,635	50,635	63,258
London Record Society	1,250			1,250	1,250
London Topographical Society	1,250			1,250	1,250
Textile Conservation at Glasgow	1,250			1,250	1,250
University
Tree Council	1,250			1,250	1,250
	16,500		45,635	62,135	76,758
Overseas Aid
British Red Cross Disaster Fund					5,000
Disaster Emergenices Committee					7,000
Vision Aid Overseas	4,000			4,000	5,000
	4,000			4,000	17,000
Handicapped &Disabled
Action for Kids	2,000			2,000	3,000
Canine Partners	2,000			2,000	3,000
Greater London Fund for the Blind	4,000			4,000	5,000
Royal Association in Aid of Deaf People	2,000			2,000	3,000
Vitalise (formerly Winged Fellowship	4,000			4,000	5,000
Trust)
	14,000			14,000	19,000
Medicine, Health &Hospices
Association for Spina Bifida and	2,000			2,000	3,000
Hydrocephalus
Mental Health Foundation	2,000			2,000	3,000
RAFT	4,000			4,000	5,000
St.Francis Leprosy Guild	2,000			2,000	3,000
Together for Shorter Lives	4,000			4,000	5,000
	14,000			14,000	19,000

Analysis of	Analysis of	Total Expenditure	Total Expenditure	Regular	Special	Historical	Total	Total
(continued)
				Donations	Donations	Awards	2021	2020
				F.	F
Welfare
Centrepoint				2,000			2,000	3,000
Connection		at St Martin-in-the-Fields		2,000			2,000	3,000
Fine Cell Work				2,000			2,000	3,000
Independent		Age (R.U.K.B.A.)		2,000			2,000	3,000
National Benevolent			Fund for the Aged	2,000			2,000	3,000
Professional		Classes	Aid Council	2,000			2,000	3,000
Turtle Key Arts				2,000			2,000	3,000
Royal Sailor's Rests				2,000			2,000	3,000
				16,000			16,000	24,000
Unclaimed	Donations			(6,250)			(6,250)
Donations				68,250		45,635	113,885	168,758
Governance		costs - Audit		3,093			3,093	6,930
Accountancy		fees (2020:payable		20,400			20,400	19,200
to the then	auditors)
				91,743		45,635	137,378	194,888

11 Prior Year Statement	of Financial				Permanent
Activities
		Unrestricted		Funds	Endowment	Total
		General	Designated f		Fund F	2020
INCOME FROM
Income from Investments		200,152				200,152
Total Income		200,152				200,152
EXPENDITURE ON
Raising Funds					63,642	63,642
Charitable Activities		136,630		58,258		194,888
Total Expenditure		136,630		58,258	63,642	258,530
Net Income/(Expenditure)	before
gains and losses on Investments		63,522		(58,258)	(63,642)	(58,378)
Net gains on Investments					973,305	973,305
Net Income/(Expenditure)		63,522		(58,258)	909,663	914,927
Gross transfers between	Funds:
Historical Awards Fund		(60,308)		60,308
NET MOVEMENT IN FUNDS		3,214		2,050	909,663	914,927
Fund balances brought
forward at 8 February 2019		77,734		63,530	7,719,528	7,860,792
Fund balances carried
forward at 7 February 2020		80,948		65,580	8,629,191	8,775,719