2021-04-05-accounts

THE SIR GEORGE MARTIN TRUST

FINANCIAL STATEMENTS

for the year ended

5 APRIL 2021

CONTENTS
	Page
Trustee’s annual report	1-6
Independent Auditor’s report	7-10
Statement of financial activities	11
Balance sheet	12
Notes to the financial statements	13-22
Analysis of grant making activities	23-28
Donations	29-31

Registered Charity Number 223554

1

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT

for the year ended

5 APRIL 2021

The Directors of the Trustee company present their report and the audited financial statements of the charity for the year ended 5 April 2021. The Trust has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting of Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Status

The Sir George Martin Trust is a registered charity under number 223554. The governing document is a Trust Deed dated 10 December 1956.

Registered office

54 Wharfedale Place Harrogate HG2 0AY

Trustee

The sole Trustee of the charity is Sir George Martin Trust Company Limited. This office is the only activity of the company.

The Directors of the Trustee company are:

R F D Marshall Chairman T D Coates M Bethel P D Taylor MBE M J Martin M L Whyte S Blenkinsop A Wriglesworth

The registered office is as above. The company registered number is 540045

Trust manager

The Directors of the Trustee company have delegated the day to day management of the Trust to C L Marshall.

Auditor	Solicitors
Wheawill & Sudworth Limited	Gordons
Chartered Accountants	Riverside West
35 Westgate	Whitehall Road
Huddersfield	Leeds
HD1 1PA	LS1 4AW

2

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT (continued)

for the year ended

5 APRIL 2021

Bankers

Investment advisers

HSBC plc CCLA PO Box 45 Senator House 47 Market Street 85 Queen Victoria Street Bradford London BD1 1LW EC4V 4ET

Establishment and History

The Trust was founded by the late Sir George William Martin (the Settlor), a wealthy Leeds businessman with many interests in the charitable sector, by means of a Trust Deed dated 10 December 1956 under which the Settlor declared that Sir George Martin Trust Company Limited (the Trustee) should hold the Trust funds on trust for such charitable institutions or such charitable objects as the Trustee should select.

At the time of founding the Trust, Sir George Martin was Chairman of the Leeds Infirmary, the YMCA, a national insurance company and an approved school as well as having a wide interest in other activities such as farming and the countryside. He established the Trust by the transfer of £30,000 of shares which for many years provided an income for mainly local charities in Yorkshire, where he took a keen interest. These included the YMCA, the Yorkshire Symphony Orchestra, the Methodist Homes for the Aged and the Harrogate Festival. Upon his death the residue of Sir George Martin’s estate was left to the Trust.

Governance

The Trust is governed in accordance with the provisions of the Trust Deed by the Directors of the Trustee company whose names are listed on page 1 and who meet either three or four times a year.

Administration of the Trust

The administration of the Trust has been carried out by Carla Marshall in her role as Trust Manager very efficiently and with great enthusiasm. She has also carried out a considerable amount of the accountancy work.

Public benefit statement

The Directors of the Trustee company have considered the general guidance on public benefit issued by the Charity Commission in carrying out its objectives and activities and in delivering public benefit to the many institutions provided with financial and general help and are satisfied that the objectives fall under the provisions of the Charities Act 2011.

3

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT (continued)

for the year ended

5 APRIL 2021

Grants in the year ended 5 April 2021

Grants made in the year amounted to £229,067. The number of donations during 2020/21 dropped significantly from 131 in 2019/20 to 103 – a 21% decrease – while the average donation amount went up considerably by 22% from £1,750 in 2019/20 to £2,202 in 2020/21. The analysis of grants made in this, and recent years is shown at the back of this document.

Activities

Covid-19 had a big impact on how the Trust operated when it came to its operations and technology, but the trustees and Trust Manager were determined to keep their activities and grant making as steady and consistent as possible so that local charities felt re-assured by the Sir George Martin Trust’s constant presence and made funds available as quickly as possible. At the start of this financial year we continued the £500 Fast Grants but in May returned to regular grant making for capital, core and project needs.

Having moved all its funds to CCLA in May 2019, CCLA recommended that the trustees no longer drew down from the capital fund, as they had previously done at a low level for many years, as this would impact the longterm value of the fund. As a result, during 2020/21, the Trust only spent its income and this was a key factor in the trustees deciding to change the Trust’s grant making strategy at the June meeting. With a record number of enquiries and applications from national, local, West and North Yorkshire third sector organisations and a finite budget available, it was decided that going forward the focus would be on West Yorkshire charities and churches supporting local disadvantaged and vulnerable people. In recent years, two thirds of all the Trust’s grants had gone to support people in West Yorkshire and Sir George’s roots and much of his charitable work lay in West Yorkshire so the trustees and Trust Manager felt this was the right course to take.

A further development in the year was the appointment of Roger Marshall as Chairman on 23 June 2020. David Coates, the previous Chairman, continues to be a very valued Trustee . We were very pleased to welcome Andrew Wrigglesworth, a Partner at Wrigleys LLP, as a new trustee on the completion of his term as a trustee of the Leeds Community Foundation.

Instead of the usual three trustee meetings a year held in person, there were five meetings during April – March 2020/21, but these were either held on a conference call or Zoom. The Trust Manager initially set up a conference call facility as Zoom was still very new in Spring 2020 and many of the trustees didn’t feel comfortable using this and/or didn’t have the technology to access it. The April and June meetings were held on a conference call and September, December and March on Zoom. Other operational changes during the financial year were that the Trust moved to BACS grant payments and accepted all applications by email which saved time for applicants at the beginning and end of the grant process.

The Trust Manager’s charity visits in person continued to be curtailed. A handful were carried out in August and September 2020 but then with the subsequent Autumn and Winter lockdowns, all charity assessments were done on the telephone or via Zoom, which actually worked surprisingly well and Zoom continues to be a significant part of the Trust’s communication with charities and churches. The Trust Manager carried out 71 Zoom and telephone assessments during the 2020/21 financial year.

4

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT (continued)

for the year ended

5 APRIL 2021

Activities (continued)

With the new focus on just West Yorkshire, during the Autumn the Trust Manager set up and took part in a number of Zoom meetings with key funders and funding advice support organisations in the five West Yorkshire districts – Bradford, Calderdale, Kirklees, Leeds and Wakefield – to ensure a steady flow of enquiries and applications from across the region. The Trust Manager also spoke about the Trust and its funding at four virtual funding fairs for charitable groups across Yorkshire and attended the Bradford and Wakefield Funders Forums online to ensure the Trust’s profile remained high and we continued to be well connected with other funders in the region.

A new initiative for the Trust in 2020/21 was WYFON (West Yorkshire Frontline Organisation Network) which the Trust Manager instigated and got trustee support for. This was an online peer support and training programme for a number of medium-sized charities which the Trust Manager had spoken to during the Covid pandemic who said how isolated and challenged they felt. IVAR (Institute of Voluntary Action Research) – a leading advisor to funders across the UK – encouraged funders of all sizes to try and do more than just give funds during Covid and find ways to enable peer support and create ‘safe spaces’ for charities to help them get through the incredibly tough period. As a result, the Trust worked with the School for Social Entrepreneurs (SSE) to set up and run a series of four, two hour sessions from January – June for a first WYFON cohort, with the first hour being a chance for the charities to share their experiences, and in the second hour the SSE facilitator led a leadership session on a topic chosen by the group. The six participants were all extremely grateful for the Trust running the sessions and felt the group had been a really important element of support for them during such a difficult time.

The Sir George Martin Trust continued to be integral to the continuation and operations of the Yorkshire Funders Forum (YFF), with the Trust Manager being paid to be the Co-ordinator as part of her Trust Manager role. As with the Trust and the way it operated, the YFF experienced similar challenges and opportunities. With a May in person Forum scheduled to take place in York, the steering committee had to cancel this due to the first lockdown and decided to give it a go on Zoom. Following the success and an attendance of more than 50 funders, the YFF then ran an online event every two months from May – February in 2020/21 with themes including: Operating in the new Covid-19 environment; Financial Recovery & Resilience; Impact of Covid19 on the voluntary and community sector and Assessing Applicants’ Finances & Your Spending Strategy. As well as promoting and running the online sessions, the Trust Manager also sent out regular funder news updates to keep local funders informed of new reports and developments in relation to the impact of Covid on local communities.

At the January 2021 event there was a session to discuss the role of the YFF and a number of funders said how well it had done at keeping local funders connected and informed during Covid and some of them would like the YFF to do more in the sector. This led onto David Warner, former Director of London Funders and a regular contributor to the YFF online events carrying out a YFF development feasibility study which took place in 2021/22.

The Trust continued its membership of ACF and attended their virtual Annual Conference in October.

Investment policy and performance

The Trustees continued to keep all the Trust’s funds with CCLA and through investing with CCLA’s COIF Charity Fund adopt their ethical/responsible policy. Despite the turbulent financial year around the world, CCLA provided strong returns throughout 2020/21 and delivered the income which it had forecasted which enabled the trustees to continue to give a sizeable amount of grants. The trustees continued to monitor and discuss CCLA’s performance closely to ensure that all the funds being with one investment firm is the best policy.

5

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT (continued)

for the year ended

5 APRIL 2021

Objectives and future policy of the Trust

The objectives are to distribute the income from the Trust fund amongst charities at the absolute discretion of the Directors of the Trustee company. The Directors of the Trustee company therefore have a wide brief but concentrates its giving in West and North Yorkshire, particularly the old West Riding cities of Leeds and Bradford. The intention of the Directors of the Trustee company is to continue the activities of the Trust as an independent charitable Trust.

Financial review

The surplus for the year of £1,897,848 (2020 deficit of £843,484) reflects a net surplus of £544 arising from income in excess of expenditure (2020: £37,814) and a gain on realised and unrealised investments of £1,897,304 (2020 loss of £881,298). The Trust’s total funds at 5 April 2021 totalled £9,656,588 (2020: £7,758,740).

The surplus before transfers upon the income fund has arisen as income has been slightly in excess of expenditure this year. The Directors of the Trustee company have, along with the investment managers, reviewed investment management policy in order to generate greater returns.

Risk management policy

The Directors of the Trustee company have examined the major strategic, business and operational risks which the Trust faces and have adopted a formal risk management policy.

Reserves policy

The Directors of the Trustee company aim to maintain reserves at an adequate level to provide sufficient working capital to fund the charity’s activities.

Fundraising

The Charity does not carry out any significant fundraising activities.

6

THE SIR GEORGE MARTIN TRUST

TRUSTEE’S ANNUAL REPORT (continued)

for the year ended

5 APRIL 2021

Trustee’s responsibilities

The Directors of the Trustee company are responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to Charities in England and Wales requires the Directors of the Trustee company to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Directors of the Trustee company are required to:

• select suitable accounting policies and apply them consistently;

• observe the method and principles in the Charities SORP 2019 (FRS 102);

• make judgments and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustee, being the Directors of the Trustee company, are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. The Directors of the Trustee company are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

The Trustee, being the Directors of the Trustee company, are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Appointment of Auditor

A resolution to re-appoint Wheawill & Sudworth Limited as auditor will be proposed at the Annual General Meeting.

On behalf of Sir George Martin Trust Company Limited

R F D MARSHALL

15 October 2021

7

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF

THE SIR GEORGE MARTIN TRUST

Opinion

We have audited the financial statements of The Sir George Martin Trust for the year ended 5 April 2021 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 5 April 2021, and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

8

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF

THE SIR GEORGE MARTIN TRUST (continued)

Other information

The Trustee is responsible for the other information. The other information comprises the information included in the Trustee’s annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the Trustee’s report; or

• the charity has not kept adequate accounting records; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of the Trustee

As explained more fully in the Trustee’s responsibilities statement set out on page 6, the Trustee is responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee is responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

9

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF

THE SIR GEORGE MARTIN TRUST (continued)

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the environment in which it operates and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including but not limited to, the Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, review of Trustee meeting minutes and enquiries of management. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with the law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustee.

• Conclude on the appropriateness of the Trustee’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

10

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF

THE SIR GEORGE MARTIN TRUST (continued)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our Report

This report is made solely to the Trustee in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustee those matters we are required to state to the Trustee in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Trustee, for our audit work, for this report, or for the opinions we have formed.

WHEAWILL & SUDWORTH LIMITED 35 Westgate Chartered Accountants & Statutory Auditor Huddersfield HD1 1PA

15 October 2021

Wheawill & Sudworth Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

11

THE SIR GEORGE MARTIN TRUST

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended

5 APRIL 2021

		2021	2020
		Unrestricted	Unrestricted
		Funds	Funds
	Note	£	£
Income and endowments from:
Investments	2	279,524	325,276
		──────	──────
Total income and endowments		279,524	325,276
		──────	──────
Expenditure on:
Investment management fees		-	8,661
Charitable activities	3	278,980	278,801
		──────	──────
Total expenditure		(278,980)	(287,462)
		──────	──────
Net gains / (losses) on investments	13	1,897,304	(881,298)
		──────	──────
Net income / (expenditure) and net		1,897,848	(843,484)
movement in funds
Reconciliation of funds:
Total funds brought forward	16	7,758,740	8,602,224
		──────	──────
Total funds carried forward	16	9,656,588	7,758,740
		══════	══════

All income and expenditure derive from continuing activities.

The notes on pages 13 to 22 form part of these financial statements.

12

THE SIR GEORGE MARTIN TRUST

BALANCE SHEET

5 APRIL 2021

		2021	2020
	Note	£	£
Fixed assets
Tangible assets	12	345	5
Investments	13	9,551,383	7,654,079
		──────	──────
		9,551,728	7,654,084
Current assets
Debtors	14	70,415	70,415
Cash at bank and in hand		40,375	41,986
		──────	──────
		110,790	112,401
Creditors: amounts falling due within one year	15	(5,930)	(7,745)
		──────	──────
Net current assets		104,860	104,656
		──────	──────
Net assets		9,656,588	7,758,740
		══════	══════
Charity Funds
Unrestricted funds:
Capital	16	9,530,736	7,633,432
Income	16	125,852	125,308
		──────	──────
Total charity funds	16	9,656,588	7,758,740
		══════	══════

The financial statements were approved and authorised for issue by the Board on 15 October 2021

Signed on behalf of the Trustee company

R F D MARSHALL ) ) Directors

M L WHYTE )

The notes on pages 13 to 22 form part of these financial statements.

13

THE SIR GEORGE MARTIN TRUST NOTES TO THE FINANCIAL STATEMENTS

5 APRIL 2021

1 Summary of significant accounting policies

(a) General information and basis of preparation

The Sir George Martin Trust is a registered charity in the United Kingdom under number 223554. The governing document is a Trust Deed dated 10 December 1956. The nature of the charity’s operations and principal activity is to distribute the income from the Trust amongst charities at the absolute discretion of the Directors of the Trustee company, this is detailed further in the Trustee’s report. The address of the registered office is given on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the Directors of the Trustee company in furtherance of the general objectives of the charity and which have not been designated for other purposes.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

14

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

1 Summary of significant accounting policies (continued)

(c) Income recognition (continued)

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Expenditure on charitable activities includes costs of providing services and the payment of grants to the charities beneficiaries ; and

• Other expenditure represents those items not falling into the categories above.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Office equipment - 2 years straight line

15

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

1 Summary of significant accounting policies (continued)

(g) Investments

Investments are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.

(h) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(i) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(j) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(k) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

(l) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(m) Going concern

The financial statements have been prepared on a going concern basis as the Directors of the Trustee company believe that no material uncertainties exist. The Directors of the Trustee company have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The Directors of the Trustee company have considered the impact of the Covid 19 pandemic on the charity and they believe that they have put suitable measures in place to ensure that the charity will continue its activities going forward.

16

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

1 Summary of significant accounting policies (continued)

(n) Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires judgements, estimates and assumptions to be made which may affect the amounts reported. These estimates and judgements are continually reviewed and are based upon experience and other factors, including expectations of historic events that are believed to be reasonable under the circumstances.

2 Income from investments

ncome from investments
		2021	2020
		£	£
Dividends receivable		279,524	324,505
Interest on short term deposits		-	771
		──────	──────
		279,524	325,276
		══════	══════
nalysis of expenditure on charitable activities
	Activities
	undertaken
	directly	Support costs	Total
	2021	2021	2021
	£	£	£
Grant making	231,442	47,538	278,980
	══════	══════	══════
	Activities
	undertaken
	directly	Support costs	Total
	2020	2020	2020
	£	£	£
Grant making	229,362	49,439	278,801
	══════	══════	══════

3 Analysis of expenditure on charitable activities

17

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

4 Allocation of support costs

					Total
					Charitable
			Charitable	Total	Activities
	Support cost	Basis of allocation	activities	2021	2020
			£	£	£
	Staff costs	Charitable costs	36,175	36,175	34,269
	Audit and accountancy costs	Charitable costs	6,290	6,290	6,500
	Stationery, telephone and postage	Charitable costs	1,751	1,751	1,643
	Website and IT costs	Charitable costs	923	923	1,850
	Travel and subsistence	Charitable costs	118	118	2,343
	Office costs	Charitable costs	282	282	305
	Depreciation	Charitable costs	341	341	188
	Repairs and maintenance costs	Charitable costs	60	60	-
	Memberships	Charitable costs	475	475	645
	Insurance	Charitable costs	784	784	706
	Bank charges	Charitable costs	115	115	240
	Training costs	Charitable costs	224	224	750
			──────	──────	──────
	Total		47,538	47,538	49,439
			══════	══════	══════
5	Governance costs included within	support costs
				2021	2020
				£	£
	Staff costs			18,087	17,135
	Audit and accountancy costs			3,690	3,900
	Stationery, telephone and postage			876	822
	Website and IT costs			462	924
	Travel and subsistence			59	1,172
	Office costs			141	152
	Depreciation			171	94
	Repairs and maintenance costs			30	-
	Memberships			237	323
	Insurance			392	353
	Bank charges			57	120
	Training costs			112	375
				─────	─────
				24,314	25,370
				═════	═════

These costs are included within expenditure on charitable activities as required by SORP (FRS 102).

6 Analysis of grants and services to beneficiaries

	Grants to	Grants to
	institutions	individuals	Total
	£	£	£
Grants to beneficiaries	229,067	-	229,067
Provision of external training sessions to beneficiaries	2,375	-	2,375
	──────	──────	──────
	231,442	-	231,442
	══════	═════	═════

18

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

7 Grants to institutions

Further details of grants made to institutions during the year can be found in the Annual Analysis of Grant Making included on pages 23 to 28 and Analysis of Donations on pages 29 to 31.

All grants are made to registered charities for grant funded activities.

Major grants made in the year were as follows:

Major grants made in the year were as follows:
	£
Bangladeshi Youth Organisation	3,500
Hunslet Club	5,000
Lingfield Living Local	3,021
Marie Curie Bradford	6,200
Rivertree Trust	4,000
St Gemma's Hospice	5,000
Star Bereavement	4,000
Yorkshire Brain Tumor Charity	3,091
Yorkshire Children's Trust	4,000
	──────
	37,812
Other grants (94 in total all £3,000 or under)	191,255
	──────
	229,067
	══════

Additionally training sessions costing £2,375 were provided to some local charities to assist them during the Covid pandemic.

8 Net income / (expenditure) for the year

Net income / (expenditure) is stated after (charging)/crediting:

et income / (expenditure) is stated after (charging)/crediting:
	2021	2020
	£	£
Depreciation of tangible assets	(341)	(188)
Gain / (loss) on fair value movement of investments	1,897,304	(881,298)
	══════	══════

9 Auditor’s remuneration

The auditor’s remuneration amounts to an audit fee of £4,290 (2020: £4,500) and a further £2,000 (2020: £2,000) for accounts preparation and other services.

10 Trustees' and key management personnel remuneration and expenses

The Directors of the Trustee company neither received nor waived any remuneration during the year (2020: £Nil).

The reimbursement of Directors of the Trustee company’s expenses was as follows:

	2021	2020	2021	2020
	Number	Number	£	£
Travel	-	1	-	383
	═════	═════	═════	═════

During the year the trust paid £300 (2020: £1,500) to Golden Frog PR Limited, a company controlled by one of the trustees for the provision of website services.

19

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

11 Staff costs and employee benefits

The average monthly number of employees and full time equivalent (FTE) during the year was as follows:

	2021	2021	2020	2020
	Number	FTE	Number	FTE
Charitable activities	1	1	1	1
Governance	-	-	-	-
	─────	─────	─────	─────
	-	1	1	1
	═════	═════	═════	═════

The total staff costs and employee benefits were as follows:

	2021	2020
	£	£
Wages and salaries	36,175	33,875
Social security	-	484
	──────	──────
	36,175	34,359
	══════	══════

No employees received benefits (excluding employer pension costs) of more than £60,000.

12 Tangible fixed assets

angible fixed assets
	Office
	Equipment	Total
	£	£
Cost:
At 6 April 2020	1,801	1,801
Additions	681	681
Disposals	(420)	(420)
	──────	──────
At 5 April 2021	2,062	2,062
	══════	══════
Depreciation:
At 6 April 2020	1,796	1,796
Charge for the year	341	341
Eliminated on disposal	(420)	(420)
	──────	──────
At 5 April 2021	1,717	1,717
	══════	══════
Net book value:
5 April 2021	345	345
5 April 2020	5	5
	══════	══════

20

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

13 Fixed asset investments

Fixed asset investments
		Listed
		investments
		£
Fair value:
At 6 April 2020		7,654,079
Additions		-
Disposals		-
Revaluation – net gains / (losses), realised and unrealised		1,897,304
		──────
At 5 April 2021		9,551,383
		══════
Carrying amount:
At 5 April 2021		9,551,383
		══════
At 5 April 2020		7,654,079
		══════
Investments at fair value compromise:
	2021	2020
	£	£
Managed Funds	9,551,383	7,654,079
	──────	──────
	9,551,383	7,654,079
	══════	══════

The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.

14 Debtors

	2021	2020
	£	£
Prepayments and accrued income	70,415	70,415
	═════	═════

21

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

15 Creditors: amounts falling due within one year

					2021	2020
					£	£
Creditors:
Yorkshire Funders’ Forum					2,440	134
Grants outstanding					-	4,000
					─────	─────
					2,440	4,134
Accruals					3,490	3,611
					─────	─────
					5,930	7,745
					═════	═════
und reconciliation
nrestricted	funds
	Balance at					Balance at
	6 April					5 April
	2020	Income	Expenditure	Transfers	Gains	2021
	£	£	£	£	£	£
Capital fund	7,633,432	-	-	-	1,897,304	9,530,736
Income fund	125,308	279,524	(278,980)	-	-	125,852
	──────	──────	──────	──────	──────	──────
	7,758,740	279,524	(278,980)	-	1,897,304	9,656,588
	══════	══════	══════	══════	══════	══════
	Balance at					Balance at
	6 April					5 April
	2019	Income	Expenditure	Transfers	Gains	2020
	£	£	£	£	£	£
Capital fund	8,519,060	-	-	(4,330)	(881,298)	7,633,432
Income fund	83,164	325,276	(287,462)	4,330	-	125,308
	──────	──────	──────	──────	──────	──────
	8,602,224	325,276	(287,462)	-	(881,298)	7,758,740
	══════	══════	══════	══════	══════	══════

16 Fund reconciliation

Unrestricted funds

Fund descriptions

Unrestricted funds

The general funds of the charity are available to be distributed at the discretion of the Directors of the Trustee company in furtherance of the objects of the charity.

22

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

17 Analysis of net assets between funds

	Unrestricted		Unrestricted
	funds	Total	funds	Total
	2021	2021	2020	2020
	£	£	£	£
Fixed assets - tangible	345	345	5	5
Fixed assets – investments	9,551,383	9,551,383	7,654,079	7,654,079
Cash at bank and in hand	40,375	40,375	41,986	41,986
Other current assets	64,485	64,485	62,670	62,670
	──────	──────	──────	──────
Total	9,656,588	9,656,588	7,758,740	7,758,740
	══════	══════	══════	══════

23

Annual Analysis of Grant Making April 2020 – March 2021

This is the eighth year that the Sir George Martin Trust has analysed its grant making in this way and the data is being used by the trustees to review and formulate the Trust’s grant making strategy for the future.

Our 2019/20 Annual Analysis of Grant Making mentioned the early impact of the Covid-19 Pandemic which hit the UK in March 2020 and continued to have a tremendous effect on the charity sector throughout the April 2020 – March 2021 period. The Sir George Martin Trust’s grant making strategy was most definitely adapted due to Covid-19. Key changes, which will be detailed further later in this analysis, were:

• From July 2020, most funding was focused on smaller, local charities and churches supporting disadvantaged and vulnerable people in West Yorkshire.

• More flexible funding for core, capital or project costs and applicants could ask for funding to support a range of costs.

• Six week programme during April – May of Covid-19 £500 ‘Fast Grants’ to frontline charities and churches who were providing urgent, community support.

• Lower value of funding distributed in the first quarter of 2020/21 as the situation was changing week by week and charities and churches were saying what they needed most was small, urgent grants for food and essential goods for the vulnerable.

• More larger grants in Q2, 3 and 4 to increase the Trust’s impact and make a significant difference to the financial situation of small, local charities.

• Move from three trustee meetings to four during this 12 month period to ensure the Trust’s funding strategy was in-line with charities’ needs and the Trust’s quarterly investment income deposits.

• In Q1 and Q2 an emphasis on supporting charities which the Trust had given grants to before.

In terms of the total monetary amount of donations made in 2020/21, this was £233,067 compared with £230,362 in 2019/20 and £257,547 in 2018/19, so a £2,705 increase from 2019/20 to 2020/21.

----- Start of picture text -----
Annual Donations £
£300,000
£250,000
£200,000
£150,000
£100,000
£50,000
£0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
----- End of picture text -----

• 23 grants totalling £31,750 were made in Q1 2020 (via the Fast Grants and at the 23[rd] June meeting)

• 26 grants totalling £67,596 were made during Q2 2020 (at the 28[th] Sept meeting)

• 31 grants totalling £76,843 were made during Q3 2020 (at the 7[th] December meeting)

• 24 grants totalling £56,878 were made during Q4 2020 (at the 8[th] March meeting)

24

----- Start of picture text -----
Number of Donations
160
140
120
100
80
60
40
20
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
----- End of picture text -----

The number of donations during 2020/21 dropped significantly from 131 in 2019/20 to 103 – a 21% decrease – while the average donation amount went up considerably by 22% from £1,758 in 2019/20 to £2,241 in 2020/21.

----- Start of picture text -----
Average Donation Amount £
£2,500
£2,000
£1,500
£1,000
£500
£0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
----- End of picture text -----

When the markets first crashed in March 2020, the trustees wanted to make sure that the investments bounced back in the new financial year in order to maintain a similar level of grant making to 2019/20. Some trusts and foundations gave out a lot of emergency funding in Q1 and Q2 but were then short of funds for the latter part of the 2020/21 period, whilst others temporarily froze all their funding in the first few months of the pandemic while they formulated a new funding strategy. The Sir George Martin Trust aimed to be somewhere in the middle and started faster, smaller grants to meet emergency need in April and May as well as giving out ten grants ranging from £1,000 - £3,000 grant at the June meeting.

At the September, December and March meetings, the trustees then focused on giving out more £2,000 - £4,000 grants to local charities which needed a cash injection to meet increased demand brought on by Covid19. This resulted in the annual average donation amount rising to £2,241 which is an all-time high for the Trust.

25

----- Start of picture text -----
Geographical Breakdown of Grants
York
Harrogate/Knaresb'gh/Ripon
Rural North Yorkshire
Across West & North Yorkshire
Across West Yorkshire
Calderdale District
City of Wakefield District
Kirklees District
City of Bradford District
City of Leeds District
0% 5% 10% 15% 20% 25% 30% 35%
2018/19 2019/20 2020/21
----- End of picture text -----

When we review the geographical location data for the Trust’s grant holders and their beneficiaries, 2020/21 saw major changes. For the last few years, Rural North Yorkshire had been generally equal or at a similar level to the Bradford District, whilst Leeds was always number one or equal to Bradford. The Harrogate District, York, Calderdale, Kirklees and Wakefield had always come behind the other three areas, with a handful of grants each, while we can see that in 2020/21 all the West Yorkshire districts come out top.

With the likelihood of their being a lower investment income for the Trust in 2021 and beyond, and not wanting to reject more charities when they would need grants more than ever, at the June meeting the trustees decided to tighten up the funding criteria. Keen to continue being a ‘generalist’ funder, supporting a wide range of communities, venues and projects, the trustees all agreed that focusing predominantly on vulnerable and disadvantaged people in West Yorkshire was the change they all felt most happy with. The data from these analyses also showed that in recent years generally two thirds of all the Trust’s grants went to West Yorkshire, with a third going to North Yorkshire and so moving to supporting just West Yorkshire wasn’t a radical shift in direction.

27% of all 2020/21 grants went to support the Leeds District, 25% Bradford, 17% Kirklees, 10% Wakefield and 9% Calderdale. 6% supported people across West Yorkshire, 4% across West and North Yorkshire, 2% Rural North Yorkshire and 1% Harrogate District.

Points of note are:

• Leeds grants dropped by 5% compared with the previous year, but continued to be the geographical area which benefited from the highest number of grants.

• Bradford grants rose by 6%, whilst Kirklees saw the largest increase with a jump from 5% to 17%, Wakefield rose by 4% and Calderdale by 3%.

• Rural North Yorkshire went from 18% in 2019/20 to 2% in 2020/21, reflecting the trustees’ new geographical grant making focus on West Yorkshire.

• Following the decision in the summer to focus on West Yorkshire, the Trust Manager felt it was important to ensure that funding advisors and other key funders in the five districts – Bradford, Calderdale, Kirklees, Leeds and Wakefield – were aware of the Sir George Martin Trust, the types of organisations the Trust supports and the size of grants. She pro-actively reached out to existing contacts in these areas and a couple of new contacts and held Zooms or telephone calls to remind them that they could mention the Trust to local charities and churches who may be looking for funding.

26

• The data shows that Third Sector Kirklees, the local infrastructure support organisation for the region, were particularly successful at encouraging local groups to apply to the Trust and in Wakefield the CEO of WDHCS put the Trust Manager in touch with a number of quality charities providing excellent Covid-19 support.

• The Trust also saw an increase in the number of Yorkshire health charities which support people across the region due to them finding it particularly challenging to secure their usual funding from fundraising events and community fundraising.

----- Start of picture text -----
Issues & sub-sectors supported
Amateur sport
Environment/Conservation/Heritage
Music/Arts/Culture
Village Halls & Community Centres
Older People's Welfare
Disability Support & Activities
Church Building Outreach Projects
Covid-19 urgent support
Adult Welfare & Relief of Poverty
Advancement of Health/Saving Lives
Youth Welfare & Education
0 5 10 15 20 25 30 35
Number of grants in 2018/19 Number of grants in 2019/20
Number of grants in 2020/21
----- End of picture text -----

There continued to be significant changes in the charity sub-sectors receiving grants from the Sir George Martin Trust and issues supported this year. 360Giving – the grant data model which the Trust uses to record its grant making – recommended introducing a Covid-19 specific data option in Spring 2020 which is why this features for the first time. In 2019/20 there were some Covid-19 grants but they were logged under Advancement of Health/Saving Lives or Adult Welfare & Relief of Poverty so the two years can’t be precisely compared.

It's interesting to compare the 2020/21 figures with 2018/19 which is pre-Covid. Unfortunately environment/conservation/heritage, music/arts/culture and disability support and activities saw the largest decreases in grants, going down from 5% to 0%, 9% to 4% and 17% to 8%. With regards to environment/conservation/heritage and music/arts/culture, most of these enquiries and applications were declined because the trustees didn’t feel this work was a top priority in 2020, but when it comes to disability charities and projects, very few enquiries or applications came in.

As Youth Welfare & Education had retained the number one spot every year since 2014, apart from last year, it is good to see that it went back to the top in 2020/21 as the youth have always been a key priority for the Trust.

Many more church building outreach project bids came in during the second half of 2020/21 compared with 2019/20, reflecting that following the initial few months of the pandemic when anything capital was put on hold, churches tried to re-start their fundraising campaigns for capital works. Many churches told the Trust Manager that the first six months of 2021 was a good time to do the works before their church fully re-opened in summer 2021. The numbers show that 9% of all grants in the latest period went to church building outreach projects compared with just 4% in 2019/20.

The second, third and fourth place spots all went to Covid support related work of Advancement of Health/Saving Lives, Adult Welfare & Relief of Poverty and Covid-19 Urgent Support grants.

27

Here is the change in order and percentage comparison from 2019/20 to 2020/21:

2019/20	2019/20	2020/21
1	Advancement of Health/Saving Lives 21%	Youth Welfare & Education 22%
2	Adult Welfare & Relief of Poverty 18%	Advancement of Health/Saving Lives 20%
3	Youth Welfare & Education 17%	Adult Welfare & Relief of Poverty 13%
4	Disability Support & Activities 17%	Covid-19 urgent support 12%
5	Music/Arts/Culture 9%	Church Building Outreach Projects 9%
6	Older People’s Welfare 6%	Disability Support & Activities 8%
7	Environment/Conservation/Heritage 5%	Older People's Welfare 6%
8	Community Centres & Village Halls 4%	Village Halls & Community Centres 6%
9.	Church Building Outreach Projects 3%	Music/Arts/Culture 4%
10.		Environment/Conservation/Heritage 0%
	0 50 100 150 200 250 300 350 Total 2013/14 Total 2014/15 Total for 2015/16 Total for 2016/17 Total for 2017/18 Total for 2018/19 Total for 2019/20 Total for 2020/21 Rejected & Approved Applications Rejected Applications *including rejected enquiries Donations Awarded Total Number of Applications

2020/21 saw the highest number of enquiries and applications since the Trust started this annual analysis eight years ago – 289 – mainly due to the influx during the Spring/Summer of 2020 when so many people were working to secure emergency Covid funding. Enquiries and applications then slowed down for the rest of 2020/21, particularly because the Trust made it clear on its website in July that the focus for the Trust’s giving was now just West Yorkshire.

2020/21 also saw by far the largest number of rejections since the analysis began. Just over one third of all enquiries and application were awarded a grant compared with two thirds who were rejected. Compare this with 2018/19 where nearly two thirds were awarded a grant and a third rejected and we can see the significant turnaround. During the height of the pandemic, when the Trust was running its £500 Fast Grants, the Trust Manager was receiving dozens of calls and emails every week and with limited funding, the Trust Manager and trustees rejected a large majority of the enquiries.

The most common reasons for applications being rejected/deferred in 2020/21 were:

• Not a registered charity

• Trustees felt the charity or church’s reserves were too high and did not need a grant from our Trust

• National charity based out of West Yorkshire which did not have an on-the-ground presence in our region or whose income was considered too high

• Not supporting people in need during the Covid-19 crisis

• Hadn’t adapted their activities and support to run virtually during the pandemic

28

----- Start of picture text -----
Type of Grant
100
90
80
70
60
50
40
30
20
10
0
2015/16 2016/17 2017/18 2018/19 2019/20 2020/21
Capital Core Capital & Core
----- End of picture text -----

As in 2015/16 and 2019/20, during the last 12 month period, the Trust gave out more core and project grants than capital grants and the Trust Manager also started logging those grants which were a combination of capital and core/project costs as a separate entity. This was advised by 360Giving so that our data is as accurate as possible and is also an indicator that the Trust increased its flexibility when it came to what the grants were spent on. 49% of grants in 2020/21 were for core or projects costs, 42% were for capital works or items and 9% were for a combination of both.

During this period a number of charities and churches told the Trust Manager how grateful they were that the Sir George Martin Trust continued to provide capital grants as they were finding it very hard to secure funds for such costs. This pattern has reserved compared to 10-20 years ago when very few local trusts gave core funding and preferred to focus just on capital grants.

29

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021 List of donations 1st Pontefract Scout Group & Centre Addingham Youth Council Age UK Calderdale & Kirklees Arch Resolution Ark Church, Huddersfield Artworks Creative Communities Bangladeshi Youth Organisation Batley Community Outreach Centre Bradford Court Chaplaincy Service Bradford Inclusive Disability Service (BIDS) Bradford PHAB Club Brighouse Central Methodist Church Canterbury Imagine Cardigan Centre Caring Together in Woddhouse and Little London Cellar Trust Christians Together Calderdale Clapgate Primary School Crisis Pregnancy Care Dementia Friendly Keighley Dewsbury District League of Friendship Diocese of Leeds Music Eccleshill Community Association Limited Emerge Family Burns Club Fight Against Blindness Flourishing Families Leeds Friends of Ravenscliffe High School Association Gwennie's Getaways Holbeck Together Home-Start Bradford District Horsforth Shed Howarth RDA Huddersfield Mission Hunslet Club ICAFS (Independent Children & Family Service) Illingworth Moor Methodist Church Innovation for Learning KIDS Yorkshire Kidz Club Leeds Kirklees Adventure Trust Lawrence Batley Theatre (Kirklees Theatre Trust) Learning Partnerships Carried forward

£ 855 1,500 2,000 3,000 1,000 2,000 3,500 500 2,250 1,000 500 3,000 2,500 3,000 2,500 2,500 2,000 2,500 2,000 500 500 2,000 500 1,000 1,000 3,000 3,000 2,000 1,000 2,000 3,000 3,000 3,000 2,732 5,000 2,444 700 3,000 1,875 3,000 2,500 2,500 3,000

90,356

30

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

List of donations (continued)	£
Brought forward	90,356
Leeds Baby Bank	500
Leeds Community Trust	1,500
Leeds Dads	3,000
Leeds Faith in Schools	2,000
Leeds Mencap	2,500
Leeds Weekend Care Association	2,000
Light of the World	2,000
Lingfield Living Local	3,021
Macular Society	2,000
Manasamitra	2,000
Manorfield Hall	2,500
Marie Curie Bradford	6,200
Meanwood Valley Urban Farm	2,000
MHA (Methodist Homes for the Aged)	3,000
Motor Neurone Disease Association WY Branch	2,525
National Literacy Trust	2,500
One in a Million	3,000
Our Place	1,500
Parish Church Council of Idle	2,000
Platform 1	3,000
Project Colt	3,000
Pudsey Community Project	3,000
Rivertree Trust	4,000
Ruddi’s Retreat	2,000
Saville Town Scouts	1,000
Sea Cadets, Wakefield	2,500
Second Chance Headway	3,000
Senior Citizens Support Group	500
Sikh Sport UK	500
SNAPS	2,000
St Christopher's Church - Good Neighbours Project	2,000
St Gemma's Hospice	5,000
St Hilda's Cross Green & St Saviours Richmond	2,280
Hill
St Lucius Church	2,500
St Luke the Evangelist Cleckheaton PCC	2,700
St Mary's Church, Hawksworth Wood	500
St Paul's Methodist Church, Dalton	2,000
St Stephen's, West Bowling	3,000
St. Augustine's Centre	2,500
St. John's Church Birkby	2,000
Star Bereavement	4,000

Carried forward

189,082

31

THE SIR GEORGE MARTIN TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

5 APRIL 2021

List of donations (continued) Brought forward Staying Put STEP (Supporting the Elderly People) Step 2 Young People's Health Talkthru The Addy (The Old Quarry Adventure Playground) Thrive Alive Trinity Centre, Batley Carr Upperthong Village Hall Valley Project Valley Project Wakefield Cathederal Wakefield Street Kitchen Wesley Playhouse Whitby, Scarborough & Ryedale DAG Women's Health Matters Yorkshire Brain Tumour Charity Yorkshire Cancer Community Yorkshire Children's Trust Zarach

£ 189,082 1,000 500 1,280 3,000 2,744 1,000 2,000 2,050 1,800 500 1,500 3,000 3,000 2,000 3,000 3,091 2,520 4,000 2,000

229,067