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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.||
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|||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|
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|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||
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|||||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|
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|||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|
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|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|
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|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|
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|||||||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|
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|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|
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|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