2021-03-31-accounts - R L Glasspool Charity Trust

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Increase grant sPending than increase in RPI	by more	3 /o	(1So/,
Increase total fund value than the increase in RPI	by more	28/		(15/)
Generate a net total income return ofat least 4%		4.9%	p.a.	(4/o) p.a.
Generate atotal return above the
increase in RPI + 4/o
Keep grant-making costs	below
20%ofnet total income
Spend at least 100/o of income on grants	net	99 6o/o	p.a.(100o/o) p.a.

		General	Designated	Endowment	Total	Total
		Fundf	Funds f	Fund f	2021 f	2020 f
Income from:
Donations		627			627	910
investments (Note 2)		1,954,563			1,954,563	2,126,311
Charitable activities (Note 3)		205,000			205,000	125,000
Total income		2,160,190			2,160,190	2,252,221
Charitable activities (Note	4)
Grants		1,818,854			1,818,854	1,955,167
Costs ofgrant making		431,670			431,670	375,208
Total expenditure		2,250,524			2,250,524	2,330,375
Net (expenditure)/income before gains and losses on investments		(90,334)			(90,334)	(78,154)
Gains/(losses) on investment assets (Notes 8and 10)		253,634		4,378,052	4,631,686	(4,077,543)
Gains/(losses) on pension scheme
(Note 16)			9,906		9,906	3,041
Net Expenditure/ (Income)		163,300	9,906	4,378,052	4,551,258	(4,152,656)
Transfers between funds		282,891	(282,891)
Net movement in funds		446,191	(272,985)	4,378,052	4,551,258	(4,152,656)
Reconciliation offunds:
Total funds at 1 April 2020		543,535	772,985	38,698,550	40,015,070	44,167,726
Total funds at31 March 2021 (Note 13)		f989,726	f500,000	f43,076,602	f44,566,328	f40,015,070

Statement ofFinancial activities for the ear ended 31March	Statement ofFinancial activities for the ear ended 31March	Statement ofFinancial activities for the ear ended 31March	2020for com	arative	ur oses:
	General	Designated	Endowment		Total
	Fundf	Funds f	Fund f		2020
Income from:
Donations	910				910
Investments (Note 2) Charitable activities (Note 3)	2,126,311 125,000			2,126,311 125,000
Total income	2,252,221			2,252,221
Charitable activities (Note 4)
Grants Costs ofgrant making	1,955,167 375,208			1,955,167 375,208
Total expenditure	2,330,375			2,330,375
Net expenditure before gains and losses on investments	(78,154)				(78,154)
Gainsl(losses) on investment assets (Notes 8and 10)	(338,694)		(3738849)	(4	077 543)
Gains/(losses) on pension scheme
(Note 16)		3,041			3,041
Net Income	(416,848)	3,041	(3,738,849)	(4,152,656)
Transfers between funds	20,978		(20,978)
Net movement in funds	(395,870)	3,041	(3,759,827)	(4,152,656)
Reconciliation offunds:
Total funds at 1 April 2019	939,405	769,944	42,458,377	44,	167,726
Total funds at 31March 2020 (Note 13)	f543,535	f772,985	f38,698,550	f40.015,070

				2021	2020
			Notes
FIXEDASSETS
Tangible					973
Investments				43,076,602	38,698,550
				43,076,602	38,699,523
CURRENT ASSETS
Debtors			9	194,159	216,008
Investments			10	1,469,759	1,216,125
Cash at bank and in hand				393,481	186,521
				2,057,399	1,618,654
CREDITORS: Amounts		falling due
within one year				(493,519)	(219,047)
NET CURRENT ASSETS				1,563,880	1,399,607
Provision for liabilities		and charges	16	(74,154)	(84,060)
NET ASSETS				f44,566,328	840,015,070
CAPITAL FUND
Endowments			12	43,076,602	38,698,550
INCOME FUNDS.
Unrestricted funds:
Designated fund			14	500,000	772,985
Other charitable	funds		13	989,726	543,535
				1,489,726	1,316,520
				844,566,328	E40,015,070

		Notes	2021	2020
			K	R
Cash flow from operating	activities	17	(1,747,503)	(2,178,697)
Cash flow from investing	activities
Payments to acquire fixed asset investments Receipts from sales offixed asset investments			(6,080,900) 6,080,800	(6,727,917) 6,729,920
Dividends and interest received			1,954,563	2,126,311
Net cash flow from investing activities			1,954,463	2,128,314
Net increase in cash and cash equivalents			206,960	(50,383)
Cash and cash equivalents	at 1April 2020		186,521	236,904
Cash and cash equivalents	at 31 March 2021		R393,481	R186,521
Cash and cash equivalents	consists of:
Cash at bank and in hand			393,481	186,521
Cash and cash equivalents	at31March 2021		R393,481	f186,521

2.	INCOME FROM INVESTMENTS		2021	2020
	Other investment income		1,954,563	2,126,311
			R1,954,563	K2,126,311
3.	INCOME FROM CHARITABLE ACTIVITIES		2021	2020f
	Grants		205,000	125,000
			R205,000	R125,000
4.	CHARITABLE ACTIVITIES	2021	2020
	Staffcosts:
	Wages and salaries	262,170	199,862
	Social security costs	19,497	20,796
	Other pension costs	34,646	34,090
		316,313		254,748
	ONce costs:
	Premises	20,563	22,512
	Office repairs and
	maintenance	25,847	22,371
	Professional fees		1,895
	Miscellaneous	20,479	34,577
	Depreciation —owned
	assets	973	1,946
		67,862		83,301
	Courses, conferences,
	literature and subscitptions	4,079		3.327
	Fees paid to auditors for
	accountancy and payroll
	services	13,109		13,350
	Governance (Note 6)	30,307		20,482
		431,670		375,208
	Grants	1,818,854		1,955,167
		R2,250,524		R2,330,375

Executive Oflicer and Deputy Chief E	Executive Oflicer and Deputy Chief E	xecutive Officer.
All trustees had expenses reimbursed		during the year totalling	anil (2020 anil).
GOVERNANCE COSTS			2021f	2020 F
Audit fees			7,950	7,725
Legal and consultancy fees			12,616
Trustees meetings	and expenses		336	783
Trustees training				3,070
Trustees indemnity	insurance		1,770	1,600
Independent financial advice			7,635	7,304
			f30,307	@20,4&2
TANGIBLE FIXED	ASSETS			Office
				Furniture 8
				Equipment f
COST
At 1 April 2020				109,905
At 31 March 2021				109,905
DEPRECIATION
At 1 April 2020				108,932
Charge foryear				973
At 31 March 2021				109,905
NET BOOK VALUE
31March 2021
31 March 2020				f973
OL CHARITY TRUST			ANNUAL	REPORT AND ACCOUNTS

						Increase/	Market value
		Ilarket value	Acquired		Disposed	(decrease) In	31 March
		1April 2020 f	in year f		In year f	market value f	2021 f
Monks Investment Trust			1,469,998			(239)	1,469,759
S&P	Global	472,076			583,459	111,383
M&G	Charifund	744,049			886,539	142,490
Total		f1,216,125	f1,469,998		f 1,469,998	f253,634	f1,469,759
Historical cost		f1,613,733					f1,469,998
he fair value oflisted investments is determined				by reference to the		quoted price for	identical assets
n an active market atthe balance sheet date.
11.	CREDITORS: Amounts falling		due within	one year		2021	2020f
	Accruals					f493,519	f219,047

ANALY	SIS OF NE	TASSETSBETW	EEN FUNDS
				Total
		Unrestricted	Endowment	Funds	Total Funds
		Fundsf	Fundsf	2021f	2020f
Fixed assets			43,076,602	43,076,602	38,699,523
Net current assets		1,563,880		1,563,880	1,399,607
		1,563,880	43,076,602	44,640,482	40,099,130
Pension	liability	(74,154)		(74,154)	(84,060)
		f1,489,762	f 43,076,602	f44,566,328	f40,015,0?0

ECONCILIATION CTMTIES	OF NET INC	OME TO NET C	ASH FLOW	FROM OPERATING
				2021	2020
Net income before	gains/(losses)	on investments	and
pensions				(90,334)	(78,154)
Dividends and interest received				(1,954,463)	(2,126,311)
Depreciation and impairment of		tangible fixed assets		973	1,946
(Increase)/decrease	in debtors			21,849	30,151
Increase/(decrease)	in creditors			274,472	(6,329)
Net cash flow from	operating activities			R(1,747,503)	K(2,178,697)

o?Glasspool ft L GlJ55pooICharityTrusi 2nd Fltrtsr,Saxon House. 182 Hoe Srreer. WalthèmslY. London E17 4QH Phone.'02031413161 www.gLasspool.org.ul( Chariry frust Chkri.'yHrtt4D 214648