Charfty number: 207173 THE TALISMAN CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
THE TAUSMAN CHARITABLE TRUST COKTENTS Page Rèference and admlnistsatlve details of thfr Charity. Its Tntee$ and advlsers Trustees. rnport Indepdent gxamlnefs report ststgment of financlal acllvltlgs Balance sh•6t Notes to th• financlal stat•m•nts 10-18
THE TALISMAN CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRVSTEES AND AOVISERS FOR THE YEAR ENDED 5 APRIL 2021 Truste P R Demwn, Chief Executive Dr F M-C Denman NJWCaine Charlty Teglst•Ted numb•r 207173 Prlnclpal office L¢yweT Ground Fk 354 KennIngt Road London SEII 4LD Indepondgnt Examlner M Hewett ACA DC Peters EorthY & Mooie Chartered Accountants Salisbury House ststion Road Cambridge CB12LA Banker Natwesl 23 Mad%et Street Cambridge CB2 3PU Soll¢itors Wilhers 16 Old Bailey LorKlon EC4M 7EG Investment Managern Quilter Chevw)t Lanite(I 1 Undershaft London EC3A 8BB Page 1
THE TALISMAN CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2021 The Trustees present their annual report togethervMlh the financial statements of The Talisman Charitable Trust for the year ended 5 April 2021. The Trustees conffinn that the Annual Report and financial ststemenls of the Charity compty wilh the current statutory requirements. the requirements of the Charitls goveming document and the proviOnS of the Statement of Recommended Prt8 (SORP), applicable to ¢haritie5 preparing their accounts in accordance with the Finaticial Rewtrng Standar(l applicable in the UK and Republic of Ireland IFRS 1021 {s&cond edition of the Charrties SORP IFRS102) Odober 2019, effective 1 January 2019). OBJECTIVES AND ACTIVITIES FOR THE PUBUC BENEFIT a. Pollcles and objectlvgs Th& Twstees have regard to the lem)s of the Trust Deed and the wishes of the Settbr ènd the amending s¢heme made in August 20CQ. Accordingly the c4.ects of the Charity are to assist.. a} IndivKluals of small means wh)m they Gonsider to be deserying and may be described as"going shorf; and b) oth ¢harit¢es with similar objects. In general, the Twstees have set the main aims of the ChaTty as assisting indiwduals of sm811 means and charrtable organisattons Wbth the needs of or in the relief of poverty. education, heahh. housing. and disablement or disability. The objectives for the year are shaped by these a#ns with a to distributing the Cha3 inc8 in full after expenses Ilaking on¢ year with another). The Trustees may, in certain circumstan, consider ¢t prudent to dislribule the income received over a bnger petiod. cArcumstances mwht incILe the feceipt of an exceptionalty laige ¢ompany dmdend, whith the Tnkstees may prefer to distribule over a number of years in order to manage better the distribution of to their beneftiarie5. b. Publlc benefit The Trustees ¢onfimi that they have referred to the Charity Commission's guidance on Public Benefit when reviewing the Charivs ains and objectives. nn1ry future aclivitses and setting the grant makiro policy for the year. e. Grant maklng pollo1 ApplTcations for grants are consrdered from both {r1vidUalS and organisations whether made directly or supported in vrriling by an organisalion or a s(Kial workw. The Trustees may make grants lo organisalions with similar aims. Details of how to apply for grants and the infoThrAtw)n required are available from the Chief Executwe. d. Investment pollcy The Trusteès make all investment decisions after full e4)nsuliation with. and approval from. their investment advisers who are instructed to invest in a portfolio to obtain an income SLrficienl lo meet the Charit¥s grant making o*ectsv8s whilst ensuring the Chartys bng tem) security (taken in Tts widest sense arKI including. for example, protection against inflation). The TnJstee$ may puthse any Investm andlor property a5 they. in their absolute discretion. think fft. Page 2
THE TAUSMAN CHARrrABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021 ACHIEVEMENTS AND PERFORMANCE a. Grant maklng perfomianc• During the year 1.11612020: 1,1991 appfutwjns f assiStare were recewed and the Trustees made net grants lotalling £153.S1012020.. £192.5331 to 235 indniKlv4s 2 thantable organksalion (2020.. 217 individua15 and 1 charitable organisation). Total grants made repfesent 74%12020.' 118%} of inc(xning resources administration costs. At the year end no cOntingt grants were OutstandW {2020: niD. b. Investment perforniance When setting investrnent Ferformance ¢)bjectives in relatN)n to quoted irwastnts. the Tnjstees use total Tetum as the basis of investrnenl performance and compare aL*ual performance with a benchmark by taking an average of the FTSE All Share Index and the FTSE World ex UK Irbdex. Folb)wing con5ullalion wfth their investment advisers, the Trustees set a target rate of relum for the year of 50A. The investment retum for 2021 was an increase of 47.8%12020.. decrease of 11.2%) and (a)mpares with an in¢rease in Ihe benchmark of 40.2% {2020.. decrease of 16.7%). FINANCIAL REVIEW . Revlew Totsl income during Ihe year wa5 £234,716 {2020.' £223.681) and after taking into account payment of grants to beneficrarles of £153.510 12020: £192.5331, investmenl management costs of £6,00012020.. £6.000), support costs of £12,803 {2020.. £46,174). govemance costs of £9.001 12020: £8,803) and net gains on investments of £6,462.829 12020.. net losses of £1,979.771), there was net income of £6,516.231 12020: net expenditure of £2,009,100}. The market value of quote(l investts at the year end was £19.483,523 (2020.. £12,942.1461. As rep¢)rted in the awounts for the year ended 5 April 2020. during sto$ of January and February 2020. damage was caused to part of the roof at the rear of the ChaTtys property. An initial estimate of £500 had been obtained for the repair but rt wasny until after 5 April 2020 that the builders We able to start work and it became apparent that the damage was substsntiaty wotse than first thought and that the whose of the roof needed replacing. A prowsion for the estimated cost of £15,01)O was made in the accounts for the year ended 5 April 2020. The repair was completed duriny the al ended 5 2021 at a cost of £13.971 and the ovetPTovision of £1.029 has been added to income reserves. Page 3
THE TAUSMAN CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021 b. Reser¥es pollcy The Charity is relianl on me fr(th its inVesknes. Taking one year wth another. the Trustees. inlerikn is to di%tnbute the Charitys income in full aftèr expenses. The Trustees consider it pnjdenl to maittsin a target levd of fvee reseNes in unrestricted funds, which is no lower than 10% and no greater than 80% of the t¢Xai nel income. pri¢x to deducling costs relating to ¢halllable adivities, as shThYn in the Statement of Finanoai ActNities of the preceding yearfs annual accounts. The Trustees consider that this level wll provide suffiuent lund5 to respwl to applications for grants and to cover the Charitys expenses. The Trustees may, in certain Ufcumstances. &SIder it pnthnt to dh8tribule the inc(ne received over o longer peritsj. Such circums1an might include the rlpt of an exceptionally large company d%vsdend, which the Trustees may prefer to distr15ule over a number of yew5 in order to manage better the distr>uln of income to their beneficiaries. The actuallovel of free reserves lexdudw investmen18} at 5 April 2021 was £119,92412020: £66,522) which falls wlhin the TnJ$lees' specthed parameters for 2020r2021 of £16,320 and £130.563. The Reserves Policy is conslstent with the Twstees, long temi se¢uritK approach to investing, its grant ma(ing policy. and wrth the duty to appty the income of the charity within a reasonable tKne. In addition, it allows for any variation in div4der receipts over the year. ¢. PLANS FOR FimJRE PERIODS AND COV1[19 The TTUStees consider that Cw&19 pmic vnll cause an increase in the number and urgeney of applications for assistsno as the outbreak exacerbates and drives more into hardship. The Trustees will continue to respond to these applications but ajditionaty consider hxal Cowd-19 appeals. The Trustees consider that the detrimental effect t)n the UK ecortcrfny and Ihe very substantial increas8 in Govemment debt will lead to even grealer need in fvture years. The Trustees will monitor the sf(uation as ti evolves and act accordingly. The Trustees are 81s0 awdre tha( for a pericrtl. the pandemic will affect the level of dividends that companies pay. and in lum. this will impact on the divtrjend income receivable by the Trust. In this regard. the TnJslees have taken the adce of their inve5tmenl thsers have recommended that the TTYSt's anticipated incomè for the year ended 5 April 2022 shoukl be in the regK>n of £226.000. Thu8, whilst maintaining the above slated c4"ectives and &tMtk8s. it is antiapated that the TNstees wll have approximately £240,OLKJ available for charitable grant making for the year to 5 April 2022. This represents 96Dkn ot available reseNes arKI ankn"opated nei inrM* ieceip15 for the year to 5 Apiil 2022. The Trustees wll closely monrtor the rKeipt of dwKlend income during the yèar under and may increase or decrease the level of gTanl making accordingty. d. GOING CONCERN AND Cov119 The Trustees have reviewed the financtal FQSition of lh8 Charity. induding the potential impact of Covid-19. and have a reasonable expectation that the Charity has adequate resources to continue in operational existen for the for8seeable fvIu. Accordingly, the financial statement5 continue lo be prepared on Ihg going concem basis. Page 4
THE TAUSMAN CHARITABLE TrUST TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2021 STRUCTURE. GOVERNANCE AND IJIANAGEMENT . Constitution The Charity is an unincoTporated Int. constituted undw a trust deed dated 4 August 1936 and a scheme made by the Charty Commissioner daled 22 August 2000 and is a registered charity. number 207173. The Charity was establishgd by an initial grft from Baron Frederic Awred d'Erfanger in 1936. The Charity does not actively fundraise ar seeks to continue its work through the C8Tefvl stertardship of its e$tIng resources. b. Methods of appolntment or election of Trlee$ There is an annual re-evaluation of Trustees wtt seNe until such time as Ihey resoon. The Board of Trustees appoints new TrLfrStees and the IndtK)n pr¢)cess for any appointed Trustee comprises meeting with the Board arKI Chief ExecutNe who eyplain the Charl8 polws conceming investmenls, grant making and the p¢)wers and responsibilities of the Tnjstees. The Trust Deed does nol pn)vide for the appointment of a minimum or maximum number of Trustees. However, the present Twstees, policy is Ihat there shoutd never be less than ljvo or more than fNe Tnjstees. All Trustees are regularty prowded with relevant nletter$ and tethnical subscriptions and are notffiod of hanges in goveman¢e published on the Charity Commissk)n's website uthi¢h they are encouiaged to visit. The Trustees meet quarterty and agree the bro•J stratwy and areas of actmty for the Charity, including ¢¢S1deratiOn of grant making. investmenL reserves and rÉsk management policies and perfom8nce. c. Organlsational stTUCtuTe and decision4naking pollcles The day to day administration of grants and the prc¢e55ing at)d handling of appfications prioi lo consideration by the Trustees is deleg*ed to the Chief ExeeutNe. The Chièf Executive provides his time and expertise on a voluntary basis and deals with all day to day matters, except for investment management advice and prcrfes5I0n fees which are oulsouTced. The Chief Executive monitors inf0mtiOn relating to grants and makes recommendations lo the Board of Trustees who make all deCisic$. The Trustees operate a Privacy Polw. the ful detai15 of whKh can be accessed at vM¥.talismancharrty.ory. There were no eMoYeeS in the current or pleding year. Page S
THE TAUSIAAN CHARITABLE TRUST TRVSTEES. REPORT {COPfflNUED FOR THE YEAR ENDED S APRIL 2021 STATEMENT OF TRUSTEES. RESPONSIBILMES The Truslfjes are Trsponsible for prepafing the TNsle&8' report and the financial statements in aeeordance with applicable and United Kingdom AnI]ng Standards (United Kingdom Generally Accepted Accounting Practi}. The law applicable to charities in Eng18nd & Wales requires the Trustees to prepare fina1 statements for each financial year which 9T a Irue and fair vivw of the state of affairs of the Chanty and of its incoming resources and applic8tK)n of resources, IlUdIrj its income and expenditure. for that pericrfj. In preparing these fina181 slalements. the Trustees are reqillred to.. select suitable )UntIng policies and then appty them consistenty. observe the Meth$ and princi)les of the Charities SORP {FRS 102)". make judgements and wjunling estimates thal are reasonable and prudent", slate whether applicable UK Accounting Standards IFRS 102) have been folbwed, 5uty.ect lo any material departures disclosed and explained in fmancial sLments; prepare the financ¢al statements on the 9¢n9 CoeM basis unless it is inappropriate to presume that the Chwsty wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to sttow and explain the Charitys transacti5 and disclose vrith reasonth accuracy at any time the financial position of the Chanty and enable them lo ensure that the financial statements compty wilh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the a$5e15 of the Charity and hence foi taking reasonable steps for the prevention and detection of frau¢J and other irT9gularities. Approved b rder of the members of the board ofTwstees and s#Jned on their behalf by. F> R Denman Tfustèe. S retary and Chief Exetyjtive Page 6
THE TAUSMAN CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2021 Unrestrl¢tod funds 2021 Totsl fund$ 2021 Total funds 2020 INCOME FROM: Investments 234.716 234,716 223.681 234.716 234.716 223,681 TOTAL INCOME EXPENDITURE ON: Raising funds Charitable activittes 6.000 175.314 6,000 247.010 175.314 181.314 181.314 253.010 TOTAL EXPENDITURE NET INCOMEIIEXPENDITUREI BEFORE NEr GAINSI(LOSSESI ON INVESTMENTS 53.402 129,3291 {1.979,771} Net gainslllosses) on investments 6.462,829 6.462.829 6,516.231 6,516,231 {2,009,1001 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total fur¥Js brought fOard Net movemerst in funds 14.534,749 6.516.231 14.534,749 6.516,231 16,543,849 12.CK19,11)0) 21,050.980 21.050,980 14,534,749 TOTAL FUNDS CARRIED FORWARD All incom8, expenditLFre and funds in the currtt and previous year aro unrestricted. The notes on pages 10 to 18 fom part ofthese finanual stalements. Page 8
THE TAUSMAN CHARrrA8LE TRUST BALANCE SHEET AS AT S APRIL 2021 2021 2020 FIXED ASSETS Tangbi le assets Investments 415,095 20.S15.961 415.095 14.053.132 20,931,056 14.488,227 CURREiif ASSETS Debtors Cash at bank and in hand 40.315 55,481 90.314 134.893 95.796 Creditors.. anUnts falling due within one (14.9691 114,274} NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT UABIUTIES 119.924 81.522 21.050,980 14.549,749 ProvisNJns for li8bilitie5 10 115.0001 TOTAL NET ASSETS 21,050.980 14.534.749 CHARITY FUNDS Unrestricted funds 21.050,980 14,534.749 TOTAL FUNDS 21,1)50,980 14.534.749 The financial statements were approved and authorised for issue by the TTUStees and signed on their behall by.. P R Denman Trustee. Chief Executive Dr F Denman Trustee The notes on pages 10 10 18 f¢)m part of these financial statements. Page 9
THE TAUSIAAN CHARITABLE TRUST MOTES TO THE HNANCIAL STATEklENTS FOR THE YEAR ENDED 5 APRIL 2021 AccouKfiNG POUCIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEhlENTS The financial statements have been prepared to gNe a 'true and fail and have departed from the Charities (Accounts and Reports) ReguLgt)ns 2008 onty lo the extenl required to provide a Yrue and fairf wew. This departure has invofved folloving the Charities SORP IFRS 1021 se¢ond edition effectNe January 2019 father than the Accountwig and Reporting by cha11e8'. Ststement of Reconfftnded PradKe effective from 1 April 2005 which has sinee been withdrawn. The financial statements have been prepared under the historical cost convention with items rewgnised at cost or transactjon value un$ otheThvise stated in the relevant notes to these aountS. The financi statements have been prepared in aetordance wth the Ststement of Recommended Pradi¢e: Accounting and Reporttng by Charit5 preparing their accounts in accordonce with the Finaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (second edition of the Chanties SORP {FRS1021 October 2019, effectNe 1 January 2019) and Financial Reporbng StarKlard applieable in the United Kingdom and Republ of Ireland IFRS 1021 and the Charibes Act 2011. The T81isman Charitable Twst constitutes a public benefft entity as defined by FRS 102. There were no significanl estimates or jLments m* by management in preparing these finanal statements. exeept the vduakn of inVeStn a$ calculated by Quiler cheVt Limited. 12 GOING CONCERN The Trustees have reVId the finan&al posith)n of the Charity. IrUdIng the potential impact of Cowd-19. and have a reasonable expectation Ihat the Charity has adequate resources to continue in operational existence for the foreseeable future. Accordingty. the financial statements continue to be prepared on the going conwn basis. 1.3 FUND ACCOUNTING General funds are unrestrtded funds vthi¢h are available for use at the discretion of the Trustees i lurtherance of the gener31 objectives ol the Charty and whth have not been designated for other purposes. 1A 114COME RECOGNITK)N NJI income is T9gnIsed once the Charity has entitment to the income, it is probable that the income will be received and the am(yJnt of inccyne e1vae Can be measured reliably. Income from funds held on deposil 1$ induded when Teceivable and the afflount can be measured reliabty by the charity.. thi$ is normaNy upon rK>tification of the InteSt paid or payable by the ban The payment of reportable overseas in¢crt7w can be subject to delays of LEP lo 12 months and therefore the Charity may not have been thised about this income before the signirig of the accounts. FCK this reason reporta)te oversea5 inDJm recognised when receiv8d. DkvKlends are recognised once the dNidend has been declared and notiftslion has been r1Ved of the diwdend due. Ex divKlends that have been [lIf to the charity but not yet receNed by 5 April 8re induded as debtors. P8g810
THE TAUSMAN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 ACCOUNllNG POUCIES ICONTINVEDI 1.5 EXPENDITURE RECOGNMON Expenditure is accounted for on an accru basis arKI has been included under expense categories that aggregate all StS for aflrxation to activibe$. Where costs cannot be diredly attributed to paiticular adr¥itips have been alkxd on a basis consistent with the use of the resources. Costs of raising fvrKls consist of rnanagt fees charged by Quirter Cheviot Linited. ChaTitable xtivities vKILe grants payable and suppth costs induding governance costs. Grants payable are charged in the year when the offer is m•Je except in those cases where thg offer is conditional, such grants being re¢ogniseil as expenditure when the condition5 3tta¢hing afe fvffilled. Grants offered subject to conditions wtth have not been met at the year end aTe noted as a commttment. but not aecrLted as expenditure. Support costs have been allocated belween govemanca and other support costs. Govemance costs comprise all costs involving the public atxountabiltiy of the charity and its compliance with regu5ation and good practice. These costs indude costs relating to the Independent Examination and legal fees. Additions to office equiprrffjnt are accounbj for written off in the year of purchase. l Tesources expended are inclusNe of irrecfjve VAT. 1.6 GAINS AND LOSSES AU gains and k)sses are t&ken to the Statent of Financial ActNities as they arise. Realised gains gmd losses on investments are calcvlaled 88 the difference betbveen sales proceeds and their ening carrying value or purchase date rf acquired subsequent to the fitst day of the financial year. Unrealised gains and losses are cakulated as the drfference beh¥een the fair value at the year end and their c8rrying value. Re81ised and unrealised 9affts and bsses are combined in the Statement of Financial Activf¢ies. 1.7 TANGIBLE FIXED ASSEfs AND DEPRECIATION Freehold propety is stated at cost. No depwiaknn has been charged because the Trustee8 estimate thal tho resKlual vue of the property is * least equal lo the cost included wrthin these financial ststwnents. Part of the property is let a long and short temi kase. how8ver the costs attributable to this portion cannot be accur*ety delem)ined and so al ofthe cost is included as a tangible fixed asset. Page11
THE TAUSMAN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 ACCOUNTING POUCIES (cop¥nNUED} 1.8 INVESTMENTS Fixed asset investrnents a a form of financial instrument and a initialty recognised al their transaction cost and SLtbsequenlty ffwsured al fair value al the Balae Sheet dale, ynless faK value cannot be measured reliaUy in which case it 15 nured at cost less IrraIrMefil 1.9 DEBTORS Trade and other debtors are recognised at the Sgttlement amount afier any trade discount offered. Prepayments are valued at the amount prepamj net of any trade discounts due. 1.10 CASH AT BANK AND IN HAND Cash at bank and in hand indudes cash and sl)0rt4erm hyhly Imiuid investments vith a short maturity of three months or less from the date ol wuisition or opening of the deposit or similar account. 1.11 CREDITORS Creditors aThJ provisions are recognised wthere the charity has a present obligation Tesuiting from a past event that will probabty result in the transfer of fijnds to 8 third party and the amount due lo Settle the obligalion can be measured or estim*ed reliab. Creditors and prowsions are rtormalty reccKJnised at their setuement amount after alknving fw any trade discounts due. 1.12 FINANCIAL INSTRUMENTS The Charity onty has financial assets and financial lthilities of a kind that as basie finanual instruments. Basic financial instruments are initialty Tecogrbised at transadion cost and Subsequently measured at f"r Wdlue al the Balance Sheet date. Un$$ fair value cannot be measured reliabty in which case it is measured at cost les8 impairmenL INVESTMENT INCOME Unrestrlcted funds 2021 Total funds 2021 Total fvnds 2020 Iorne from property UK investment funds Overseas 30tsrces Inter8st on cash deposits 370 226,037 8.309 370 226.037 8.309 370 220,014 1,842 1,455 234,716 234.716 223.681 TOTAL 2020 223.681 223.681 P4e 12
THE TAUSMAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 INVESTMENT MANAGEMENT COSTS Unrestrlcl funds 2021 Totsl funds 2021 Total funds 2020 Invesknent management costs 6.000 6.000 6.000 TOTAL 2020 6,c(iO 6,000 ANALYSIS OF EXPENDITURE BY ACTMTIES Grant tundlng of activities 2021 Support costs 2921 Tolal nds 2021 Total Jnds 2020 Charitable thbes 153.510 21.804 17S,314 247,010 TOTAL 2020 192.533 54.477 247.010 Page 13
THE TAUSMAN CHARITABLE TRUST NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 ANALYSIS OF EXPENI)mJRE BY ACTIVrnES (CONTINUED) ANALYSIS OF SUPPORT COSTS Support and govemance 2021 Totsl funds 2021 Total funds 2020 Accountancy fees (govemancel Data wotedion- annud fee Igovwnance) Independent Exwninerfs fees {govem8ncel Bank chayJes Computer costs Covi&19- expenses incurred by Trustee Covid-19- Offi 5anitisation & face masks Office deaning Office equipment Office equipment- maInternCe Office expenses Postage & courier servbes Propety insurance Property renovations Pft)perty roof repairs (Note 10) Propety utilty expenses Slalionery Subscriptions Telephone Travel and parking 7.2CK) 35 1.766 7,200 6,500 35 1.768 10 374 1.766 280 350 315 80 1.288 280 315 80 1.288 2.881 235 1,421 907 907 685 228 228 239 16,923 15.000 6,134 11,029} 7.320 1,177 215 {1,029) 7.320 1,1TI 215 927 215 973 454 927 60 21.804 21,804 S4.477 TOTAL 2020 54.477 54,477 Govemance costs as shuwn above total £9,¢X11 in 2020r210nd £8.303 in 2019120. Page 14
THE TAUSMAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 ANALYSIS OF GRAKrs Grants to Grants to Instltutk)n$ Indivkluals 2021 2021 Total funds 2021 Total funds 2020 Grants 150,510 153.510 192,533 TOTAL 2020 191.533 192,533 GRANTS TO INDMDUALS Numberof grants 2021 Child Povety Disablement or disabilty Education Health Housing Small means 12 18 19 4.071 10.76S 14,459 12B 93,776 26,794 Totsl 236 150.510 GRANTS TO INSTITWIONS 2021 2020 Exeter Community Transport Asse¢iath)n Field Lane Relate Avon 2,OlJQ 1.000 Totsl grants to irkstltullons 3,000 All grant payments were rrAde trrm unrestricled lunds in 2020 at)d 2021. Page15
THE TAUSWI CHARITABLE TRUST NOTES TO THE RNANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 FIXED ASSEf INVESTMENTS Usted Investments Cash at broker Total MARKET VALUE At 6 April 2020 Additions Disposals Net realised and unredised g&nsl{losses) Movement in cash al bfoker 12,942,146 1.633,T11 (1.$5S.223> 6A62.829 1,110,986 14.063.132 1.633.771 (1.$55.2231 6,462,829 178,548) 178.$48} AT 5 APRIL 2021 19,483,523 1.032,438 20,515.961 All investments are carried al th1 fair value. Investment in equities and fixed interest securities are all ltsded in quoted public markets. primarily the London Stcck Exchange. Holdings in common investment funds, unit trusts and opennded irNestmt companies are al the bid price. The basis of fair value lor quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recr/Jnised at the date of trade at cost Ith 1$ their transactk)n value). When o)nsKlering the Charitys inveStr1 polw. the Trustees take the thice of QUter Chewot Limited. The Charity operates an investment poly that indudes prowsion for a degree of diversifition of holdings within diffeTent Hivestsment tnjsts and unit trust investmenls. The Chanty has invested in ntsmber of these investmonls in order to better protect the Charivs exposure to volatility in the market and seek low ri¥k Invesknents wherever poswble. The Charity does not make use of deriv and stmilar complex financtal instruments as it takes the that investments are hehj for thwr knger tem) gro and annual income. The Charity has materid investment holdings in markets subj'ect to exthange controls or trading reststctions. Page 16
THE TAUSMAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED S APRIL 2021 TANGIBLE FIXED ASSETS Freehold proporty COST Al 6 April 2020 415.095 At 5 April 2021 415,095 NET 800K VALUE At 5 April 2021 415,095 At 5 April 2020 415,095 DEBTORS 2021 2020 DUE WITHIN ONE YEAR Other debtors Prepayments 40.366 4.213 35,745 4,570 44.579 40,315 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2021 2020 Accruals 14.989 14,274 Page17
THE TAUSMAN CHARITABLE TRUST NOTES TO THE NNANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2021 10. PROVISIONS Damage was caused to part of Ihe rwf at the rear ofthe Charitls PTopety during the storms of January arKJ February 2020. An initial estimaie of £500 had been obtained for tho repair, bLrt it wasn't until after 5 April 2020 that the buitders were able to start wcrfk, and it d$ then reported that the damage was substsntialty worse Ihan firsi thought. Ihat thè *lKJle of the roof needed replacing. The repair w the roofwas cOMpted by 5 April 2021. A provision for the rfy)f repairs of £15,000 was made in the accounts for the year ended 5 April 2020 and the totsl cost of the roof repairs was £13.971. The balan of unused provtsK>n, £1.029. has been added to income reseNes. No other provisions have been made in these acctyjnts. Property rool repalr At 6 April 2020 Amounts used Amounts reversed 15,000 {13,971} 11,029) 11. KEY MANAGEMENT PERSONNEL TRUSTEES. REMUNERATION AND EXPENSES The charity considers its key m•)agment peOnnel lo be the Trustees. The Trustees all give their time and experknse without any form of remuneration or other benefrt in kind (2020.. £ni4. During the year ended 5 April 2021, trnvel and parking expenses were reimbursed lo one Trustee of £60 (2020.. three Trustees £454}. One Trustee was pawj £350 w) relation to addilional home expenses incurred as a Tesutt of working from home durin9 the Cw&19 thkdowns. There were no Trustees, ey4Jenses sdued directy to a third paty. 11 RELATED PARf( TRANSACTIONS There were rdated party transaclins during the ojrrent or prior year. Page 18