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|Trustees'
Report||1-4|
|Independent
Auditors'|Report|5-7|
|Statement
of Financial|Activities||
|Balance Sheet|||
|Notes to the Financial|Statements|10-16|
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||||||||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|ncipal|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||
|7|(b).Fund|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|
|9|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|