2020-07-31-accounts - The Leche Trust

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			Unrestricted	Unrestricted
			Funds	Funds
		Notes	2020	2019
			f	f
Income from:
incoming resources from	generated funds
Investments
Dividends receivable			139,054	137,806
Bank Interest receivable			215	173
Donations
Totalincome		1(e)	139,269	137,979
Expenditure on:
Charitable activities
Performing Arts			112,966	111,588
Conservation —Historic	buildings		33,687	11,475
Conservation —Places ofWorship			55,727	41,480
Conservation —Historic	Objects and Collections		25,400	60,741
Education —Bursaries			25,694	25,817
Education —Overseas students			18,272	20,310
Cost ofgrant making			271,746	271,411
Investment Management	Costs		24,700	23,917
Governance Costs			7,399	7,194
Total expenditure			303,845	302,522
Net resources expended	before net gains on investments		(164,576)	(164,543)
Net gains on investment	assets		170,230	115,925
Net movement in funds			5,654	(48,618)
Reconciliation offunds:
Totalfunds brought forward at 1August 2019			6,952,294	7,000,912
Total funds carried forward at 31July 2020			6,957,948	6,952,294

The Leche Trust
Balance Sheet
as at 31July 2020
			Unrestricted	Unrestricted
			funds	funds
		Notes	2020	2019
			f	6
Fixed assets
Investments -Waverton		1(&I),4	3,871,644	3,931,772
Investments —Ruffer	8&Co	1(&I),4	3,067,837	3,005,125
Total fixed assets			6,939,481	6,936,897
Current assets
Debtors			392	383
Cash at bank and in	hand		170,510	141,424
Total current assets			170,902	141,807
Creditors: amounts	falling due within one year
Other creditors			7,350	7,110
Grant commitments		1(b),2,6	145,085	119,300
Total current liabilities			152,435	126,410
Net current assets			18,467	15,397
Total net assets			6,957,948	6,952,294
The funds ofthe Charity:
Unrestricted funds:
General			6,957,948	6,952,294
Designated
Total Charity funds		8	6,957,948	6,952,294

2. Grant commitments	2. Grant commitments	2. Grant commitments										2020	2019
												f	f
Balance brought	forward	1	August 2019									119,300	107,100
Grants approved	in the year											241,165	241,500
Adjustment for Grants not			taken up	/	cancelled							(3,200)	(4,964)
Net payments in	year											(212,180)	(224,336)
Balance carried forward 31July 2020												145,085	119,300
3. Resources expended,		related party transactions						and	Trustees expenses and remuneration
					Historic							Investment
	Historic buildings		Places or Worship	Objects & Cogectlons			Overseas sttldents		Arts	Education Bursaries	Governance	Fees	Total 2020	Total 2019
	6		E		6			6	E	E			6	E
Grants approved	29,500		50,800		24,685		16,000		97,680	22,500			241,165	241,500
Grants not taken			(2,000)		(1,200)								(3,200)	(4,964)
up/cancelled
Administration fee	3,620		5,989		1,655			1,964	13,215	2,761	796		30,000	30,000
General expenses	459		759			210		249	1,675	350	100		3,802	4,872
Investment Fees												24,700	24,700	23,917
Auditors
remuneration											6,480		6,480	6,270
Accountancr	108		179			50		59	396	83	23		898	927
	33,687		55,727		25,400		18,272		112,966	25,694	7,399	24,700	303,845	302,522

		Waverton	Ruffer &Co	Total
			6	f
Market value at 1August 2019		3,931,772	3,005,125	6,936,897
Realised gains / (losses)		9,471	(1,471)	8,000
Unrealised	gains/ (losses)	15,996	146,234	162,230
Dividends	and interest receivable	89,105	49,949	139,054
Transfers	to CAF bank account	(150,000)	(132,000)	(282,000)
Charges		(24,700)		(24,700)
Market value at31July 2020		3,871,644	3,067,837	6,939,481

The historic	cost ofthe investments	cost ofthe investments	cost ofthe investments	held at 31July 2020 isf5 428 480 (2019 —f5 773410).	held at 31July 2020 isf5 428 480 (2019 —f5 773410).
Net investment		gains in	the year —summary		2020 f	2019
Movement	on unrealised		gains		162,230	228,752
Realised (losses) / gains			on historic	cost	8,000	(112,827)
Net investment		gains			170,230	115,925
. Debtors
					2020	2019
					f	f
Prepayments					392		383
					392		383

. Grants
								Outstanding
						Approved 2020	Paid	including amounts
								b/fwd
~Hit i B cd'								f
The Landmark Trust —02/17							4,000
Hay Castle Trust —02/17							2,500
Castle Combe Parish Council, Market		Cross	—05/18				3,000
Burton Constable Foundation —02/19								2,000
National Heritage Ironwork Group	—02/19							3,000
Stowe House Preservation Trust,	Buckinghamshire				10/19	5,000		5,000
Wentworth Woodhouse Preservation		Trust		10/19		5,000		5,000
Knutsford Town Council 10/19						1,000		1,000
Strawberry Hill Trust —10/19						3,000	3000
Gwrych Castle Preservation Trust	—02/20					2,000		2,000
Horncastle Ik District Community	Association			—02/20		1,500	1500
Mary Roxburghe Trust —02/20						2,000		2,000
Ditchley Foundation, Oxfordshire	—6/20					4,500		4,500
Painshill Park Trust, Surrey —6/20						2,500		2,500
Windmill Hill Windmill Trust- 6/20						3,000		3,000
						29,500	14,000	30,000

. Grants (continued)
				Outstanding
		Approved 2020	Paid	including amounts
				b/fwd
~PI fW			E
StJames the Greater, Sutton Cheney, Leicestershire	-06/16		2,000
All Saints Church, Brocklesby, Lincolnshire -05/17				2,500
St Mary's Church, Lydiard Tregoze —10/17			3,000
St Peter Ik St Paul's Church, Bardwell - 10/17			3,000
Winchester Cathedral —02/18			3,000
St Peter's Church, Thornbury, Devon - 05/18			1,000
St Mary's Church, Almondsbury, Gloucestershire —05/18			2,500
Durham Cathedral- 05/18				1,000
St Michael Archangel Church, Theydon Mount, Essex - 10/18				2,500
St Michael (k All Angels Church, Lamplugh, Cumbria	—10/18		2,000
All Saints Church, Drinkstone, Suffolk - 10/18			3,000
St Swithin's Church, NatelyScures, Hants —02/19			1,500
StJames Church, Kinnersley, Herefords —02/19				2,500
StJohn the Baptist Church, Bishops Tawton, Devon	—02/19		1,000
St Michael & All Saints, Lower Machen, Gwent -02/19				2,000
St Peter's Church, Diddlebury, Sa lop - 02/19			2,000
St Mary's Church, Lytchett Maltravers, Dorset - 02/19				1,000
St Clement's Church, Outwell, Norfolk - 02/19				500
All Saints North Street, York - 06/19				3,000
St Mary the Virgin, Buckland, Oxon - 06/19				1,500
St Peter's Church, Hoyland, South Yorks - 06/19				750
St Malachy's Church, Hillsborough, N Ireland -06/19				2,000
St George's Church, Didbrook, Gloucesterhire —10/19		1,000		1,000
St Mary's Church, Hawkesbury, Gloucestershire —10/19		750		750
Carstairs Parish Church, Midlothian, Scotland —10/19		2,500	2,500
St Denys Church, Warminster, Wiltshire —10/19		2,000		2,000
St Michael's Church, Hernhill, Kent —10/19		2,000		2,000
St Mary Magdalene Church, Geddington —10/19		4,000		4,000
Churches Conservation Trust for Holy Trinity Church	—10/19	2,000		2,000
Putley Parish Church, Herefordshire —10/19		1,000		1,000
All Saints Church, Morston, Norfolk —2/20		2,000		2,000
All Sa1000ints Church, Patcham, Brighton —2/20		3,000		3,000
Great Mee3000ting Unitarian Chapel, Leicester-02/20		1,000		1,000
Hexham Abbey, 3000 Northumberland —02/20		3,000		3,000
St Giles Church, South Mimms, Hertfordshire —02/20		3,000		3,000

					Outstanding
			Approved 2020	Paid	including amounts
					b/fwd
Places ofWorshi continued			f		f
St Margaret's Church, Alderton, Northamptonshire		—02/20	3,000		3,000
St Peter and St Paul's Church, Preston, Rutland	—02/20		1,000		1,000
St Andrew's Church, yardley Hastings —06/20			1,000		1,000
St Bartholomew's Church Orford, Suffolk —06/20			2,500		2,500
Church ofStJames the Great, Stoke Orchards	—06/20		3,000		3,000
St Mary Magdalene Church, Great Hampden,	Bucks	—06/20	2,800		2,800
St Nicholas's Church, Standish, Gloucestershire	—06/20		1,000		1,000
St Mary's Church, Laverton, Somerset —06/20			2,000
St Bartholomew's Church, Tong, Shropshire —06/20			1,500		1,500
Friends of Bath Jewish Burial Ground —06/20			3,750		3,750
Friends ofShenstone Tower, Staffordshire —06/20			2,000		2,000
			50,800	26,500	65,550

6. Grants (continued)
							Outstanding
					Approved	Paid	including
					2020		amounts
							b/fwd
							E
Historic Ob'ects and Collections
Gunnersbury Museum Ik Park Trust	-	02/17				2,500	2,500
National Trust, Newton House - 02/18						3,000	3,000
Paxton House, Scotland - 02/18							4,000
Guildhall Feoffment, Bury St Edmunds		-05/18					2,000
Royal Collection Trust -05/18							2,500
The Foundling Museum - 10/18							2,500
Postal Heritage Trust - 10/18						2,000
Bournemouth University/Maritime	Archaeology		Trust	—10/18			1,500
NE Institute of Mining Ik Mechanical		Engineering	-10/18				2,500
Unicorn Preservation Society - 02/19						2,000
Royal Museums Greenwich —06/19							3,500
Museums Worcestershire -06/19						1,500
Tunbridge Wells Museum —06/19							1,500
British Museum —06/19							2,350
Wallace Collection - 06/19							3,500
York Museums Trust —06/19							1,500
SirJohn Soane's Museum —06/19							5,000
Spalding Gentlemens Society —06/19
Norfolk Museums Dev Trust (Special		Reserve Fund) -		07/19		16,000
Armagh Robinson Library, Northern	Ireland —10/19				2,000	2,000
Glasgow Life —02/20					5,000		5,000
British Library —02/20					3,000		3,000
Chiddingstone Castle (Denys Eyre Bower Bequest) —06/20					1,685		1,685
College ofArms Trust —06/20					3,000		3,000
National Gallery —Finding ofMoses	(Special Reserve Fund) —02/20				10,000	10,000
					24,685	40,500	43,535

. Grants (continued)
					Outstanding
			Approved	Paid	including
			2020		amounts
					b/fwd
					f
Education Bursaries
University of Northumbria			7,500	5,000	2,500
Prince's Foundation			7,500	7,500
National School of Blacksmithing	Hereford	S.Ludlow College	7,500	7,500
			22,500	20,000	2,500
Education Overseas PhD Students
20grants			16,000	16,000
Arts
The other Room, Cardiff —06/19				1,000
Chamber Music Tours Scotland —10/19			1,000	1,000
Buxton International Festival —10/19			2,000	2,000
Attic Theatre Company —10/19			2,000	2,000
Wiltshire Music Centre Trust —10/19			2,000	2,000
Almeida Theatre —10/19			2,000	2,000
IMS Prussia Cove —10/19			3,000	3,000
Magohany Opera —10/19			2,000	2,000
Brighton Early Music Festival —10/19			3,000	3,000
Rabble Theatre Company —10/19			2,000	2,000
La Nuova IVlusica —10/19			2,000	2,000
Vamos Theatre Company —10/19			1,000	1,000
Music Theatre Wales —10/19			3,000	3,000
Papatango Theatre Company —10/19			1,000	1,000
New Perspectives Theatre Company —10/19			1,200	1,200
Tom Dale Company —10/19			2,000	2,000
Young Actors Theatre —10/19			2,000	2,000
Cardboard Citizens —02/20			2,000	2,000
INK: From Pen to Performance —02/20			1,000	1,000
Wassail Theatre —02/20			1,000	1,000
Rifco Theatre —02/20			1,500	1,500
City ofWolverhampton —02/20			2,000		2,000
Dash Arts —02/20			2,000	2,000
Nottingham Playhouse —02/20			1,500	1,500
New English Ballet Theatre —02/20			2,500	2,500
Ludus Dance —02/20			1,100	1,100
Dance Umbrella —02/20			2,500	2,500

						Outstanding
6. Grants (continued)				Approved 2020	Paid	including amounts
						b/fwd
						E
~At t.
Zoonation —02/20				2,000	2,000
Motionhouse —02/20				2,500	2,500
Presteigne Festival —02/20				2,000	2,000
East Neuk Festival —02/20				1,000	1,000
Royal Philharmonic Society —02/20				1,500	1,500
Ulster Youth Orchestra —02/20				2,000	2,000
Opera Sunderland —02/20				1,500	1,500
Spectra Ensemble —02/20				2,000	2,000
Bristol International Jazz Festival	—02/20			1,000	1,000
Oxford Lieder —06/20				2,500	2,500
Aurora Orchestra —06/20				3,000	3,000
International Guitar Foundation	—06/20			2,000	2,000
Kent Wildlife Trust —06/20				1,500		1,500
Three Spires Singers —06/20				2,000	2,000
Three Spires Singers —06/20				2,000	2,000
London Philharmonic Orchestra	—06/20			1,500	1,500
The Tenebrae Choir —06/20				2,000	2,000
Birmingham Opera Company —06/20				2,000	2,000
English Touring Opera —06/20				2,000	2,000
Scottish Youth Dance —06/20				2,000	2,000
Im pro ba b le —06/20				880	880
Transform Theatre Projects —06/20				2,000	2,000
The Yard Theatre —06/20				2,000	2,000
Theatre Royal Haymarket Masterclasses		Tru	st —06/20	1,000	1,000
Omnibus Theatre —06/20				1,500	1,500
Theatr na nOg —06/20				2,000	2,000
The Old Vic —06/20				2,000	2,000
				97,680	95,180	3,500

						Outstanding
6.	Grants (continued)			Approved 2020	Paid	including amounts
						b/fwd
				E	6	E
Historic	buildings			29,500	14,000	30,000
Places of		Worship		50,800	26,500	65,550
Historic	Objects and		Collections	24,685	40,500	43,535
Education		(Bursaries)		22,500	20,000	2,500
Education		(Overseas	PhD Students)	16,000	16,000
Arts				97,680	95,180	3,500
				241,165	212,180	145,085

Grants not	take	n up / Cancelled
						E
Spalding Gentlemens		Society, conservation		equipment	-06/19	1,200
St Mary's Church,	Laverton, Somerset		—06/20			2,000
						3,200

. Unres	tricted	Funds
						2020	2019
General						f	6
Balance	b/fwd					6,952,294	6,984,912
Net movement		in General		Fund		15,654	(22,618)
Transfer	to Designated		Fund			(10,000)	(10,000)
Balance	c/fwd					6,957,948	6,952,294
~Di	td
Balance	b/fwd						16,000
Net movement		in Designated			Fund	(10,000)	(26,000)
Transfer	from	General	Fund			10,000	10,000
Balance	c/fwd

Total
Balance b/fwd		6,952,294	7,000,912
Net movement	in funds	5,654	(48,618)
Balance c/fwd		6,957,948	6,952,294