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|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|
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||||||||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|
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|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|
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|||||||||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|
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|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|
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|||||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|
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|||||||||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|
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|||||||||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|
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|||||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|
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|||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|
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||||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|
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|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|
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||||||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|
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|||||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)|
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