2021-12-31-accounts - Francis C Scott Charitable Trust

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GRANTS COMMITTED	FY2021	FY2020	Average grant size FY2021	Average grant size FY2020
Mein grants (Trustees)	81.108m (28)	51.090m (32)	f39.6k	f34k
Small grants	816,480 (7)	f11,450 (3)	f2.3k	f3.8k
Step Change	f15,860(4)	Not previously shown separately	f3.9k	Not previously shown separately
TOTAL	F1,139,940(39)	f1.101m (35)	f29.2k	f31.5k

						Expendable	Restricted	General	Total	Total
					Notes	endowment		unrestricted	2021	2020
Income
Investment income								454,753	454,753	530,845
Donation										46,600
Transfer to income						-744607		744 607
Total income						-744607		I 199,360	454 753	577,445
Expendaura
Costs ofraising funds
Investment management		costs			4	-260 825		6,447	-254378	-185080
Expenditure on charitable		activities
Grant making
Grants committed					5/23			-1,139,940	-1,139,940	-1,101,250
Grant commitments	cancelled				5/23			1,039	1,039	45,000
Grant related support/governance			costs		5/6/7			-158,319	-158,319	-158,257
Social Investment related		support/governance		costs	6
								-1,301,865	-1,301,865	-1.214,507
Total expenditure						-260825		-1 295418	-1 556243	-I 399587
Net expenditure					8	-1,005432		-96,058	-1 101490	-822,142
Net gains on Investments					13	4,053,940			4,053,940	4,085,500
Transfers between	funds
Net movement in funds						3,048,508		-96,058	2,952,450	3,263,358
Reccnci/istic n oifunds
Total funds brought	forward					38,549,162	45000	-1022673	37571 489	34 308 131
Total funds carried	forward

					Total Funds	Total Funds
				Notes	2021	2020
					2
Net cash used in operating	activities			21	-1,375,618	-1,331,052
Cash flows from investing activities:
Dividends and interest					455,693	557,121
Net proceeds from sale/purchase of		investments			-180,247	661,324
Net cash used by investing	activities				275,446	1,218,445
Change In cash and cash	equivalents		in the year		-1,100,172	-112,607
Cash and cash equivalents	brought	forward			1,667,130	1,401,614
Change in cash and cash equivalents		due to
exchange rate movements					322,089	378,123
Cash and cash equivalents	carried forward			22	889,047	1,667,130

				2021	2020
2	Investment income			2	5
	General unrestricted
	Stocks and shares			454,153	530,070
	Bank interest			30		213
	Charities deposit fund interest			25		437
	Interest on balances	with	fund managers	182		124
	Interest from programme		related investments	362
				454,752	530,844
	Rental income (Brathay Trust)
				454,753	530	845
	Expendable endowment
	Interest on balances	with	fund managers
	Restricted fund
				454,753	530,845

	A transfer of capital of9744, for spending in the year was	607was made in the year (2020:96 91,199,360(2020:91,163,075).	30,630).The total amount of unrestricted in	come available
			2021	2020
4	Investment management	costs	2
	Fund managers' fees comprise:
	Rothschild		143,946	121,655
	Smith &Williamson			35
	Sarasin		116,879	63,390
	Schroder refunded fess		-6,447
			254,378	185,080

Grantmaking				2021	2020
lhe value ofgrants to institutions	committed		in the year, including	6	2
cancelled grants comprises:
General unrestricted funds
Grant commitments				1,139,940	1,101,250
Grants cancelled/underspend				-1,039	-45,000
Support costs (notes 6and 7) Governance costs (notes 6and 7)				1,138,901 Q 125,660 32,659 158,319	1,056,250 129,748 28,509 158,257
				1,297,220	1,214,507
Restricted fund
Grant commitments
Grants cancelled
				1,297,220	1,214,507
Full details ofthe recipients are shown		in note 23.
				2021	2020
			2	2
Reconcglation ofgrants payable:
Commitments at beginning of period				1,386,753		1,336,396
Commitments made in the period	- general
unrestricted fund			1,139,940		1,101,250
Commitments made in the period	- restricted		fund
Grants cancelled or recovered					-45,000
Grant underspend vs commitment				-1,039
Grants committed for the period				1,138,901		1,056,250
Grants paid during the period			-975,789		-1,034,393
Grant repaid					28,500
				-975,789		-1,005,893
Commitments at 31 December				1,549,865		1 386753
Commitments at 31December
are payable as follows:
Within one year (note 17)				951,177		703,477
After more than one year (note 18)				598,688		683,276
				1,549,865		1 386753

	2021	2020
	2	2
Salaries	130,730	144,250
Social security costs	9,066	10,397
Pension costs	12,071	10,947
	151867	165,594

the year	b	etween:
			2021		2020
			Number		Number
260,000	-	269,999		1

Madelein	e Scott is als	o a Trustee of The	SirJames and Lady	Scott Trust.
				2021	2020
				2	2
Salaries				151,867	125,831
Legal/HR/Other				5,510	39,763
Staff costs				157,377	165,594
Less: recharged				-29,553	-46,192
Net cost	to the Francis	CScott Charitable	Trust	127,824	119,402
Included	in charitable	activities		108,650	100,424
Included	in governance	costs		19,174	18,978
				127,824	119,402

Statement of Financial	Activities	Activities
					Expendable	Restricted	General	Total
					endowment		unrestricted	2020
Income
Investment income							530,845	530,845
Donation						45,000	1,600	46,600
Transfer to income					-630,630		630,630
Total income					-630,630	45,000	1,163,075	577,445
Expenditure
Costs ofraising funds
Investment management	costs				-185,080			-185,080
Expenditure on charitable		activities
Grant making
Grants committed							-1,101,250	-1,101,250
Grant commitments cancelled							45,000	45,000
Grant related support/governance			costs				-158,257	-158257
							-1,214,507	-1 214507
Total expenditure					-185080		-1 214507	-1 399587
Net expenditure and net		movement		in funds	-815710	45000	-51 432	-822 142
before gains and losses		on investments
Net gains on investments					4,085,500			4,085,500
Transfers between funds
Net movement in funds					3,269,790	45,000	-51,432	3,263,358
Reconciliation offunds
Total funds brought forward					35,279,372		-971,241	34,308,131
Total funds carried forward					38549,162	45,000	-1,022,673	37,571,489

Investments					2021	2020
					2	2
Market value at beginning	of period				37,136,241	34,090,828
Acquisitions at cost					12,260,800	25,524,919
Disposal proceeds					12,380,553	-26,186,243
Net gains/(losses) on revaluation					3,731,851	3,706,737
Market value at end of period					40,748,339	37,136,241
Uninvested cash and settlements		pending	—endowment	account	424,331	1,287,921
					41,172,670	38,424,162

and disposal of all investments for the year amounted to Investments at market value comprise	24,053,940(2020:24,085,500).
	2021	2020
	2	2
Equities	31,657,008	29,185,438
Fixed income	4,944,239	4,909,267
Hedge funds	2,102,333	1,355,833
Alternative	2,097,966	1,012,506
Other	53,207	673,197
Property
	40,748,339	37,136,241
Historical cost at end of period	33,977,748	33,273,929

14	Programme	related investments	related investments	related investments	related investments	2021	2020
						2	8
	Investments		at cost
	Cost less impairment			at 1	January
	Additions at cost					300,000
	Losses and impairment
	Disposals and		repayments
	Cost less impairment			at 31 December		300,000
	Investments		comprise the following:
	Debt					300,000
	Total					300,000
15	Debtors					2021	2020
	General unrestricted			funds
	Prepayments		and accrued		income	6,010	16,934
	Other debtors					12,760	25,233
						18,770	42,167
	Expendable	endowment			funds
	Other debtors
						18,770	42,167
16	Cash					2021	2020
							F
	General unrestricted			funds
	COIF					51,646	201,612
	Fund managers					80,954	63,043
	Cash at banks					286,918	69,544
	Petty cash					198	10
						419,716	334,209
	Restricted fund
	COIF					45,000	45,000
						464,716	379,209

17	Creditors: Amounts	falling due within one year	falling due within one year	2021	2020
				2	2
	General unrestricted	funds
	Grants payable (note	5)		951,177	703,477
	Accruals			7,352	12,296
				958,529	715,773
	Expendable endowment		funds
	Accruals
	Restricted fund
	Grants payable (note	5)
				958,529	715,773
				2021	2020f
	Grant commitments	due	within one year
	General unrestricted	funds		951,177	703,477
	Restricted fund
				951,177	703,477
18	Creditors: Amounts	falling due after more than one year		2021	2020
				2
	General unrestricted	funds
	Grants payable (note	5)		598,688	683,276
19	Operating lease commitments

21	Reconciliation of net movement	Reconciliation of net movement	in funds to	net cash flow	2021	2020
	from operating activities				2	2
	Net movement in funds				2,952,450	3,263,358
	Deduct dividend and income	shown	in investing	activities	-454,753	-530,845
	(Deduct) gains on investments				-4,053,940	-4,085,500
	Decrease I(increase) in debtors				22,457	-22,283
	Increase in creditors				158,168	44,218
	Net cash used in operating	activities			-1,375,618	-1,331,052
22	Analysis ofchanges in net	debt

		1 January		Other non-	31 December
		2021	Cash flows	cash changes	2021
				2	2
Cash and cash equivalents
Cash		379,209	85,507		464,716
Investment	cash	1,287,921	-1,185,679	322,089	424,331
		1,667,130	- 1,100,172	322,089	889,047
Borrowings
Total		1,667,130	-1,100,172	322,089	889,047

23 Grants
							Commitments	Commitments
							made In the year	made In the year
							ended 21.12.21	ended 21.12.20
								2
Achieve Change and Engagement							23,600	47,700
Always Another Way Cumbria			Ltd				30,000
Aspatria Dreamscheme							42,000
Autus Cumbria Limited							51,800
Barrow AFC Community	Trust						10,000	4,000
Barrow Foodbank								(15,000)
Better Tomorrows							150,000
Birchall Trust							80,000
Blue Owl							(1,039)
Brathay Trust								30,000
Carer Support South Lakes								40,000
Carlisle Key								60,000
Christ Church Night Shelter							10,000
Copeland Youth Network							45,000
Creative Studios Cumbria								10,000
Cumbria Alcohol &Drug	Advisory				Service		3,860	50,000
Cumbria Community Foundation								50,000
Cumbria CVS								65,000
Cumbria Development Education				Centre			10,700
Cumbria Family Support							90,000
Cumbria Federation of Young			Farmers			Clubs	47,600
Cumbria Youth Alliance							4,000
Distington Club for Young People							36,800
Eden Ventures							3,950
Egremont Youth Partnership								45,000
EmuesUK CIC								30,000
Friends of Morecambe Bay								3,500
Families Matter								60,000
Friends of Bram							10,000
Furness Multicultural Community				Forum			47,100
Gilcrux Village Hall							1,000
Greenbank Community Association							1,000
Howgill Family Centre							30,400
James Rennie PTFA								30,000
Kepplewray Trust							25,000
Lancaster District CVS								20,000
Liverpool Charity and Voluntary			Services					15,600
Moore Arts: Millom							31,200
North Allerdale Development		Trust					60,000
Owl Blue Children's Charity								32,400
Panathlon							2,000
Peter Scott Award - Howgill		Family			Centre		2,500
Peter Scott Award - South Workington						Youth Partnership		2,500
Phoenix Youth Project								45,000
PiNC								30,000
Promoting Autonomy and	Change				Ltd	- PAC		32,500

23 Grants (continued)
			Commltmenta	Commltmenta
			made In the year	made In the year
			ended 31.12.21	ended 31.12.23
			2	2
React Foundation				17,700
SAFA Cumbria			22,000	20,000
Shackles Off Youth Project				45,000
Signal Film &Media			11,000
South Whitehaven Youth Partnership				50,000
Strawberry Fields Training			45,000
Stricklandgate House			4,000
The Happy Mums Foundation	CIC			14,700
The Growing Club CIC				9,700
The Laal Collective			2,000
Time to Share Bereavement	Youth Sevices CIC		40,200	4,000
Together We CIC			60,000
Voluntary Arts				3,950
Walney Community Trust			6,530
West Cumbria Domestic Violence Support				35,000
Whitehaven Community Trust				56,000
Whitehaven Harbour Youth Project				30,000
Whitehaven Sea Cadet Corps				10,000
Wise Up Workshops CIC			13,000
Women's Community Matters				70,000
Young Cumbria				30,000
Young Cumbria				(30,000)
Young Enterprise			30,000
Youthability Youth Services			56,700
TOTAL			1,138,901	1,056,250
Total number ofgmnta excluding		nafunda 6csncagatlona	39	35