OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

INDEX PAGE
Chair's report 1-2
Charitable
activities review and Report ofthe Trustees		 3-13
Independent
auditor's
report		 14- 17
Statement offinancial activities 18
Balance sheet 19
Statement ofcash flows 2P
Notes to the financial
statements		 21-31

Total
restricted
and
Unrestricted Restricted unrestricted
funds funds Total funds funds
Votes 2021f 2021 2021f 2020
Income:
Investment
income		 3 464,034 464,034 7I0,133
Donations 12 412,515 146,017 558,532 3l2,520
Total income 876,549 146,017 1,022,566 l,022,653
Expenditure:
Raising funds
Investment
management
Charitable
activities		 costs (105,$10) (105,810) (97„658)
Grant giving (1,095,411) (226,540) (I+21,951) (I, I20,523)
Total expenditure (1,201,221) (226,540) (1,427,761) (1.2 IS,I8 I)
Gains and losses on investments:
Gains
' (losses) on		 investments 6,183,598 1,431 6,185,029 (2,048,256)
Investment
management		 costs (70,670) (70,670) (106,583)
iVet gains
/ (losses) on investments		 6,112,928 1,431 6,114/59 (2,154,839)
Net income I(expenditure) «nd net
movement
in funds		 5,788,256 (79,092) 5,709,164 {2,350,367)
Reconciliation
of Funds		 12
Total funds brought I'orward 23,509,946 18,755 23,528,701 25,S79,068
Total funds carried forward 29,298,202 (60,337) 29,237,865 23,528,701

Company
no 166995
Note 2021 2020
f.
Fixed assets
investments 31,514,602 26,013,363
Current assets
Debtors 7 103,102 16,682
Cash at bank and in hand 8 685,421 591,263
Total current assets 788,523 607,945
Liabilities
Creditors: amounts falling due within one year {1,7S8,452) (1,257,054)
Net current
liabilities		 (999,929) {649,109)
Total assets less current liabilities 30,514,673 25,364,254
Creditors: amounts falling due aAer more than one year 10 (1,276,808) (1,835,553}
Net assets 29,237,865 23,528,701
The funds ofthe charity 12
Unrestricted
income		 funds 29/98,202 23,509,946
Restricted
income funds		 (60,337) 18,.755
Total charity
funds		 29+37,865 23,528,701

Total
restricted
and
Unrestricted Restricted unrestricted
funds funds Total funds funds
Notes 2021 2020
Cash flows from operating activities:
Net cash (used in) / provided by
operating
activities		 14 (980/66) 81,266 (899,100) (9226I5)
Cash flows from investing activities:
Dividends
and interest
from
Purchase ofinvestments
{Purchase)
.' disposal ofcash		 investments 464,034
(7,525,296)		 464,034
(7,525,296)		 710,)33
{5,I I l,779)
investments
Proceeds from disposal		 ofinvestments 254,187
7,929,553		 254,187
7,929,553		 (6,879)
5,502, I67
Investment
management		 costs (129,220} (129320) (138,574)
Net cash provided
by		 investing
activities 993,258 993,258 955,068
Change in cash in the year 12,892 81,266 94,158 32,453
Cash at the beginning ofthe year 572,508 IS,?55 591,263 558,8IO
Cash at the end ofthe year 585,400 100,021 685,421 591,263

Investment
income comprises		 income from: 2021 2020f
Dividends
- listed UK equities		 and bonds 118,721 252,129
Dividends
—overseas equities		 and bonds 126,660 142,303
Interest from UK cash deposits 4,701 4,416
Other interest 357 4,090
Income from other UK investments 198,023 290,841
Income from other overseas investments 15,572 16,354
464,034 710,133

2021 '2020
f
Travel expenses for the Gimach Partnership 163 1,031
Office expenses:
The Gimach Partnership 1,942 3,502
Wood Professional Services and Support Ltd 3,338
5,443 4,533

2021 2020
Grant giving may be summarised
as follows:
Grants to Institutions:
Medical research grants and fellowships 1,054,482 791,737
Medical treatment,
health'wellbeing
and		 training
grants		 262,947 242,871
Grants
health,		 for buildings,
facilities and equipment
for medical treatment
and
' wellbeing		 15,900
1,333@29 1,034,608
Grant funding credited to expenditure
in		 respect ofearlier years' grants (148,191) (52,429)
Total Grants to Institutions 1,185,138 982,179
Discount to present value on grants payable alter more than one year (31,000)
Governance
costs		 52,042 48,848
Other support costs 115,771 89,496
1,321,951 1,120,523
K
2021
Grants to Institutions
were awarded
as follows:
M di ir r i
rants and
clio&vshi s:
The Babraham
Institute
Research using RNA sequencing
to understand
responses
in older people		 poor vaccine 37,965
The University
ofCambridge
Modelling
obesity associated		 liver disease using stem cell derived
hepatic organoids 20,000
Research into the stem cells used for cell-based cartilage therapy 93,160
Use ofDeuterium
Wletabolic		 Imaging
to improve dementia		 diagnosis 62,826
Research into inflammatory pathvvays
in autoimmune
disease		 168,458
Research to improve
speech		 perception
for people with cochlear
imp lants 51,979
Research into the role ofspecialised
pro-resolving
mediators		 in COPD 147,624
Development
oftreatments		 using MesEncymal cells to moderate
excessive immune
responses		 in patients
with COVID-19 pneumonitis		 60,000
Research into the immune
pathways
operating		 in patients with
COVID-19 infections 240,000
Research to improve
the diagnosis ofneonatal		 seizures and epilepsy 210,435
Research into Charcot-Marie-Tooth
neuropathies
and treatment		 IS4,378
Use ofbiomarkers
to guide		 oesophageal
neoplasia
patient
management 191,270
Research ofgastrointestinal dysfunction
in Parkinson's
Disease		 46,605
Understanding
the genetic alterations
that cause lymphoma		 62,543
Research
into endometrial
dysfunction
and cancer in obesity		 10,000
Research into DNA damage response
in neurodegenerative		 diseases l88,976
Research
into mononuclear		 phagocyte
subsets		 in Psoriatic Arthritis 70,000
Grant funding
credited to expenditure
in respect ofgrants		 made in
earlier years (126,886) {32,152)
927,596 72l,620
Page 25

2021 2020
Addenbrooke's
Charitable
Trust
Psychological
support
service		 during the COVID-19 pandemic 40,000
Cambridge & District Citizens Advice Bureau
IT support
for COVID-19 systems
revisions		 5,000
Cambridge Ethnic Community
Forum
Improving
refugee and migrant		 women's health and well-being
through
mobile arts		 50,000
CPSL Mind
Mums Matter training
courses		 29,730
Disability Cambridgeshire
Early intervention
caseworker		 for mental health and autism clients 10,000
Disability Huntingdonshire
Mind Matters project 5,000
COVID-I 9 response project 5,000
5,000 5,000
Disability Peterborough
In depth casework support 10,000
Peterborough
Citizens Advice Bureau
StJohn 8c Services at Peterborough
Cavell Centre
Red Cross Defence Medical Welfare Service		 10,000
20Twenty Welfare support officer service
Productions
CIC		 for Addenbrooke's 50,000
Family
learning
project to increase social
Versus Arthritis		 mobility 27,000
Living Well with Arthritis
project
Other institutional
grants awarded
for f,10,000or		 less: 11,400
Nineteen
awards
during
the year to 3I		 March 2021 159,547
Sixteen awards
during
the year		 to 3 I March 2020 93.l4 1
159,547 93,14 I
Grants
orbaildin
s
acilitiesande
ni
ment
ormedicaltreatmentandhealtbl
~ellbein:
Institutional grants awarded
for KI0,000		 or less:
Two awards
during thc Icar to		 3 I ivlarch 202 I 15,900
Grant
«ndin
credited to ev enditare in res ect o		 rants madein earlier &ears:
Addenbrooke's
Charitable
Trust
Arthur
Rank Hospice Charity
Institutions
awarded
grants off10,00Ci or less		 (21,305) (14„732)
(5,54» )
Total institutional
grants		 1,I85,IM 982,179

Other UK,
overseas
Listed UK Overseas and multi-
equities and equities and asset UK cash
bonds bonds mvestments deposits Total
f.
Market value at
I April 2020 5,418,336 8,240,103 11,47~,956 880,968 26,013,363
Acquisitions at cost 404,197 6,988,606 154,407 7,547,210
Sales proceeds from
disposals		 (3,044, 142) (4,130,026) (755,385) (7,929,553)
Movement
in		 cash
deposits (254,187) (254,187)
Net gain
' (loss) on
disposai
and
revaluation'		 902,150 3,371,427 1,864,192 6,137,769
Market value at
31 iVlarch 2021		 35680,541 14&470,110 12,737,170 626,781 31,514,602
Historical cost at
31 March 2021		 3,'50076 I I,l89 470 l0 40I,484 626 78 l 25,567 8 l I

Unrestricted Restricted
funds funds Total
Cash at I April 2020 572,508 I8,755 59l,263
Cash flows 12,892 81,266 94,I58
Cash at 3 I March 202 I 585,400 100,021 685,421

2021 2020
Trade
Other
Grants		 creditors
creditors
pal able		 and accruals 11,587
58,307
l,7 I8,558		 I3,649
70,870
I,172,535
l,788,452 I,257,054
2021 2020
Grants payable 1,276,808 l,835,553

Grants payable at
I April 2020
Grants
Grant		 in the year
funding
unused
and written		 back 3,008,088
1333,329
Discount to present
value on grants
Grants paid
in the year		 payable aAer more than one year (148,191)
(31,000)
{{,{66,{{60)
Grants payable
at 3I March 2021		 2,995,366

Net gains I
For the year ended 31 Funds at (losses) on Funds at
March 2021: I April Income Expendituref investmentsf 31March
Unrestricted
funds		 23,509,946 876,549 (1,201,221} 6,112,928 29,298,202
Restricted
funds:
Mental health support 18,755 (18,755)
James Bradfield
Memorial
Award		 146,017 (207,785} 1,431 60,337}
Total charitable funds 23,528,701 1,022,566 (1,427,761) 6,114+59 29,237,865
Net gains I
For the year ended Funds at (losses} on Funds at
31March 2020: I Aprilf Incomef Expenditure investments 31 March
Unrestricted
funds		 25,860,313 1.022,653 (l,218„1811 (2,154,839) 23,509,946
Restricted
funds		 18,755 18,755
Total charitable
funds 25,879,068 1,022,653 (1,218,181) (2,154,839) 23+28,701
Liabilities Liabilities
falling due falling due
Fixed Current within
one		 after more
At 31March 2021: assets assets
f,		 year than one year Totalf
Unrestricted funds 31,491,257 646,415 (1,744,176) (1,095,294} 29,298,202
Restricted funds 23,345 142,108 (44,276} 181,514} (60,337)
Total 31,514,602 788,523 (1,188,452) (1,276,808) 29,237,865

Liabilities Liabilities
falling due falling due
Fixed Current within one after more
At 31 March 2020: assets assets year than one year Total
f.
Unrestricted funds 26,013,363 589,190 (1,257,054) {1,835,553) 23,509,946
Restricted funds 18,755 18,755
Total 26,013,363 607,945 (1357,054) (1,835,553) 23,528,701
Iotal
restricted
and
I'tlrestricted Restricted unrestricted
funds funds Total funds funds
2021 2021 2021 2020
Net income / (expenditure) for the year 5;/88,256 {79,092) 5,709,164 (2,350,367)
Adjustments for:
(Gains) losses on investments (6,183,598) {1,431) (6,185,029) 2,048,256
Donated investments (21,914) (21,914)
Dividends and interest
from investments		 (464,034) (464,034) (710,133)
Investment mana.tement costs 176,480 176,480 204,241
{Increase) decrease in debtors (44333) (42,087) i86,420) 45,141
{Decrease) increase in creditors {15,225) 600 {14,625) 6,668
Increase (decrease) in grants payable {237,912} 225,190 {12,722) {166,421)
Net cash used in operating activities (980,366) 81,266 {899,100) (922,615)