THE CADOGAN CHARITY Registered Charity No. 247773 ANNUAL REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2022
THE CADOGAN CHARITY- A Registered Charity {Number 2477731 TRUSTEES, ANNUAL REPORT The trustees present their report, the auditors, report and the accounts of The Cadogan Charity for the year ended 5 April 2022. REFERENCE AND ADMINISTRATIVE INFORMATION Trustees The Rt Hon The Elehth Earl Cadoean KBE DL Countess Cadogan Viscount Clielsea DL Lady Anna Thomson The Hon. William Cadogan Administrative office 10 Lluke of York Square London SW3 4LY Secretary to trustees P M Loutit Bankers Coutts & Co 440 Strand London WC2R OQS Investment Managers Schroder & Co. 1 ? Mnnrgmtp. London EC2R 6DA Auditors Dixon Wilson Audlt SerNices LLP 22 Chancery Lane London WC2A ILS Charity reglstration number 247773 STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document Thc General Permancnt Endowmcnt Fund of thc charity was created by the Seventh Earl Cado8an under a deed of trust dated 31 March 1966. Subsequently the Seventh Earl Cadogan made further gifts to the charity by way of investments. In 1985 the charity received a gift from Cadogan Holdings Company (now Cadogan Holdings Limltedl. In accordance with the direction recelved from the Seventh Earl Cadogan this gift was used to create the Rectors, Permanent Endowment Fund as described in note 5 to the accounts. In 1996 the trustees of Vlscount Chelsea's Charity re501ved to transfer the whole trust fund to the tru5tee5 of The Cadogan Charity. In 2010 the trustees of the 1986 Cado8an Jersey Trust resolved to transfer the whole trust fund to the trustees of The Cadogan Charity. Trustees The current trustees are as listed above and, unless otherwise stated, held office throughout the year under review. Only the present trustees of the charity have the power to appoint new trustees. The appointment and training of new trustee5, which involves awareness of the history and approach of the charity and their responsibilities, is performed by present trustees of the charity as they see fit on a case by case basis.
THE CADOGAN CHARITY- A Reglstered Charity INumber 2477731 TRUSTEE5' ANNUAL REPORT (CONTINUED) STRucfuRE, GOVERNANCE AND MANAGEMENT Icontinuedl Organisatlon The board of trustees meets formally once a year to conduct the business of the charity. The secretary to the trustee515 SPonSible for managing the day to day operations of the charitv. Risk mana8ement The trustees have examined the major strategic busine55 and operational risks which the charity faces and conflrm that system5 have been established to mana8e those risks. These Include the inherent risks of investlng on the stock market, valuations of investments held and the availability of dividends and distributions. These risks are managed through ongoin8 monitoring and through d15CUS51on at the trustees, meetings and the use of professional Investment managers. The trustees, Investment powers and pollcles are outllned on page 3. OBJECTS AND AcfiviTIES FOR ThE PUBLIC BENEFIT The general objects of the charity are to make such subscriptions to charltable organisations and bodies and such other applications for charitable purpose5 as the trustees, usinB their absolute dlscretion, may declde upon. The charity makes a large number of Sndivldual donatlons to reglstered charltles wlth partlcular reference to those based, or operating, In London or Scotland. Publlc benefit The trustees, havlng regard to the Public Benefit Buidance published by the Charity Commission In accordance with section 17 of the Charltle5 Act 2011, consSder that the purpose and activitles of the charity satlsfy the requlrements of the publlc benefit test set out in sectlon 4 of the same act. ACHIEVEMENTS & PERFORMANCE AND FINANCIAL REVIEW During the year the charity recelved £2,093,38712021 £2,591,695) In total incomln8 resources. The prlncipal source of Income Is the annual dividend received from Cadogan Group Holdin8s Limlted. The trustees applied these resources to its charitable actlvltles as follows: Generol Fund The trustees authorised donations to distribute the majorlty of the current yeaf s income. A full list of benefficiaries of these charltable donations is Shown in note 5 to the account5. bl Rectors, Fund During the year donatlons of £ll,()JO were pald to the rectors of three local churches. The trustees meet to conslder what grants they wlll make durin8 the year and to plan large future donations. Although the trustees make some 8rants with no formal applications, they normally require organisations to submit a request saying how the funds could be used, what would be achieved, and how this would add to public benefit. Grant5 are only given to recognised national charities. Wlth particular reference to rharities based in London and Scotland.
THE CADOGAN CHARITY- A Re8lStered Charlty (Number 2477731 TRusfEES' ANNUAL REPORT (CONTINUED) ACHIEVEMENTS & PERFORMANCE AND FINANCIAL REVIEW (continued) Investment powers and pollcy Under the trust deed the tnjstees have wide powers of investment and are not subject to the imposltion of any restrictions. The trustees have the power to retain shares in Cadogan Group Holdings Limited and are not under any duty to dlversify to the extent that the trust fund comprlses those shares. However, the trustees have also noted the statutory duty of care required by tl)e Trustees Act 2000, in relation to their holding sultable Investments and the need for dlversification of Investments so far as It is appropriate to the circumstances of the trust. The trustees receive the benefit of investment advice from S¢hroder & Co. Investment performance was satisfactory for the current year, although the current market value of Investments reflected an unrealised loss of £896k In the year prlmarlly from the Charlty's Investment In Cado8an Group Holdin8s Limited, A detalled schedule of the Investment portfollo at S Aprll 2022 and detalls of the movement In revaluatlon during the year are given in note 6 to the accounts, Reserves pollcy 11 15 Ilie yuliLV uf Ili¥ Lli¥rily lu riidiiildlii uiire5triLted liicome funds sufflclent to cover management and administration expenses and to respond to emer8ency request5 for donations for the relief of distre55 and sufferln8. PLANS FOR FUTURE PERIODS It is the intention of the trustees to continue making subscriptlons to charltable organlsatSons for the foreseeable future. The trustees have already agreed to make donations out of future income to certain named charltles on the basls ot tunds belng avallable, although these tuture payments remaln at the absolute discretion of the trustees. Detalls of the quantum of these potentlal donatlons have been set out In note 11 to the accounts. Impart of COVID-19 The trustees have consldered the continued Impact that COVID-19 has had on the operations of the charity and its ablllty to meet its objective5 over the foreseeable future. The trustees have concluded that the impact to the charity Is minlmal and they expect that the charlty wlll continue to recclve investment Sncome to enable the contlnued making of 8rant5 to charitable organisations. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparlng the Trustees, annual pOrt and the accounts in accordance wlth applicable law and United Kingdom Accounting Standards. The law applicable to charities Sn England and Wales requires the trustees to prepare accounts 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 charSty for that period. In preparlng these accounts, the trustees are required to.. select suitable accountlng policies and then apply them consistently,. ObSee the methods and principles of the Charities SORP. make judgements and accoursting estirnate5 that are reasonable and prudent- state whether applicable accountin8 Standards have been followed, subject to any departures disclosed arbd explained in the account5,' and prepare the accounts on the goin8 concern basls unless It is Inapproprlate to presume that the charity will continue in busines5.
THE CADOGAN CHARITY- A Registered Charity (Number 247773) TRUSTEES, ANNUAL REPORT {CONTINUED) STATEMENT OF TRUSTEES, RESPONSIBILITIES Icontinuedl The trustees are responsible for keeping accountin8 records which disclose with reasonable accurary the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence foi taking reasonable steps for the prevention and detection of fraud and other irregularitles. ACCOUNTS The accounts have been drawn up In compliance with relevant provlsions of The Charities Act 2011, the trust deed and the 'Accountlng and Reportin8 by Charities,: Statement of Recommended Practlce applicable to charities preparin8 their account5 in accordance wlth the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFR51021. STATEMENT AS TO DISCLOSURE TO OUR AUDITORS In so far as the trustees are aware at the tlme of approving our trustees, annual report.. there is no relevant informatlon, being Informatlon needed by the auditor in connection with preparing their report, of which the auditorls unaware,. the trustee5 have each taken all steps that he/she is obliBed to take as a trustee in order to make themselves aware of any relevant audit information and to e5tab115h that the auditor Is aware of that Informatlon. On beh If of the trustee The Earl Cadogan KBE DL 26 January 2023
THE CADOGAN CHARITY- A Re815tered Charity (Number 247773) INDEPENDENT AUDITORS, RFPORT Tn THF TRI)gTFFS nF THE CADOGAN CHARITY Oplnlon We have audited the financial statements of The Cadogan Charity (the 'ch3rily'l for the year ended 5 April 2022 whlch comprise the statement of flnanclal actlvlties, bTiliincp %hopt, slalement of cashflows and notes to the financlal statement5, including a summary of significant accounting pollcles. The financial reporting framework that has been applied in their prop3cation is applicable law and United Kingdom Accountlng Standards, including Financial Reporting Standard 102 The Flnanclal Reportin8 Slandard appllcable in the UK and Republic of Ireland Iuniled Klngdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. 8ive a true and falr vlew of the state of the charlty's affairs as at S Aprll 2022 and of its incomin8 resources and application of resources for the year then ended,. l)ave bv¥i) piupei IV Pl¥Vdivd lil dcrurd(Ince wlth Unlted Klngdom Generally Accepted Accounting Practice,. and have been prepared In accordanee with the requirements of the Charlties Act 2011. Basls for oplnlon We conducted our audit In accoidance with International Standards on Audltlng IUKI IISAS IUKII and appllcable law. nilr rp8pnnsibilitie5 Linder those standards are furthor descrlbod In the Auditorfs re.ponrlbillller for the Judlt ol thc Iinancial Statements sectlon ot oui. repoi't. We are S1)deyviideii( ul Ilie rhdrily In accvrdance wlth the ethlcal requlrements that are relevant to our audlt of the financial statements In the UK, includln8 the FRC'S Ethical Standard, and wg havp fijlflllpd our other ethlcal responslbllltlp% In accordance wlth these reqiilremenls. We belleve that the audit evldeiice we l)ave obidliivd 55 suifiLi¥ril (Ind (Ipproprlate to provlde a basls for our oplnlon. Concluslons relatlng to goSng nCer In auditlng the flnanclal slatemenls, we have concluded that the trustees, use of the goln8 concern basls of accounting In the preparation of rhe financial statements Is approprlate. Based on the work we have performed, we have not Identified any materlal uncertalnties relatlng to events or condition5 that, Indlvldually or collectlvely, may cast slgnlflc8nt doubt on the charlty's abS1ity to contlnue as a going concern for il perlod of ai least twelve months from when the financlol slalements are authori5ed for Issue. Our responsibi15tles and the re5ponslbllities of the trustees wlth respect lo golng concern are descrlbed In the relevant sections of thSs report. Other Inlormatlon The other information comprlse5 the Informatlon Inclu¢Jed In the annual report, other than the flnanclal stateFnent5 and our audltor's report thereon. The trustees are responsible for the other Information. Our opinlon on the financlal statements doe5 not cover the other Informatlon and we do not express any form of assurance concluslon thereon. In connection with our audll of the financlal Statements, our responsibility 15 to lead the other Informatlon and, in dolng so. consider whether the other Informatlon Is materially inconslstent with the financial Statements or our knowledge obtained in the audit or otherwise appears to be materially rnisstated. If we identify such material inconsistencles or apparent material misstatements, we are required to determlne whether ihere is a material m155tatement in ihe financial statemenis or a material misstatement of the oiher information. If, based on the work we have performed, we conclude that there Is a materlal misstaternent of this other informatlon, wè are required to report that fact. We have nothlnB to report in thi5 re8ard.
THE CADOGAN CHARITY- A Reglstered Charlty (Number 247773) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE CADOGAN CHARITY (contlnuedl Matters on whSch we are requirèd to report by ex¢eptlon We have nothing to report In respect of the followlng matters in relatlon to which the Charities (Aecounts and Reports) ReBulatlon$ 2CN)8 require us to report to you If, In our oplnion.. the information given in the flnancial statements Is Incon515tent in any mate¥S3l respect wSth the trustee5 report,. or sufficient accountlng records have not been kept; or the financial statements are not in agreement with the accountlng records., or • we have not recelved all the information and explanations we require for our audit. Responslbllltles of tTU5tees As explained more fully in the trustees, responslbilities statemenl Set out on page 3, the trustees are responsible for the preparation of the flnancial statement5 and for bèlng satisfied that they glve a true and falr vlew, and for such internal control as the trustees determlne Is necessary to enable the preparatlon of flnancial statements that are free from materlal m15Statement, whether due to fraud or error. In preparlng the financlal statements, the trustees are responslble for a55e551n8 the charity's ablllty lo contlnue as a golng concern, d15cIosin8, as appllcable, matters related to golng concern and uslng the goin8 concern basls of ac¢ountlng unless the trustees eblher Intend to Ilquldate the charlty or to cease operatlons, or have no realisti¢ alternative but to do sc*. Audltorfs respon51bllltl05 for the •udlt of the flnanclal statements We have been appolnted as audltor under section 144 of the Charltles Act 2011 and report In accordance wlth the Act and relevant re8ulations made or havln8 elfect thereunder. Our oblectlves are to obtaln reasonable assurance about whether the financlal statements 35 a whole are free from materlal mlsstalement, whether due to fraud or error, and to Issue an audltor'5 report that Includes our oplnion. Rea5tsnable assurance is a hlgh level of assurance, but Is not a guarantee that an audit conducted In accordance wlth ISAS IUKI will alway5 detect a material mlsstaternent when It exists. Mlsstatement5 can arise from fraud or error and are consldered material If, indlvidually or in a68re6ate, they could reasonably be expected to Influence the economlc declsSons of users taken on the basls of these flnanclal statements. Irregularitles, includlng fraud, are Instance5 of non<ompllance wlth laws and regulations. We des18n procedures in 1Sne wlth our responslbllllles, outlined above, to detect materlal mi5siatements In respect of irre8ularities, In¢luding fraud. The extent to whlch our procedures are capable of detectln8 lrre8ularltles, Includlng fraud Is detalled below.. We gained an under5tandin8 of the legal and regulatory framework appllcable tg the charlty by conslderln& amongst other thSng5, the sector in which il operates. and consldered the rlsk of acts by the charlty that were contrary to appllcable laws and re8ulation5, including fraud. We de51Bned audlt procedures to respond to the assessed level of rlsk, but recogni5ed that the risk of not detecting a materlal mlsstatement due lo fraud is higher than the risk of not detectlng one re5ultlng from error, a5 fraud may involve dellberate concealment by, for example, forgery OT intentional misrepresentatlons, or through collusion. We focused on laws and regulatlons whlch could give rise to a material mi$5tatement In the financial Statements, Includlng, but not Ilmlted to Charities Att 2011. Our tests ineluded agreeing the financlal statement dlsclosures to underlying supportin8 documentation, enquiries with management and enquirie5 of third parties. A5 in all our audits, we also addressed the rlsk of management overrlde of internal controls, Includlng testlng Journals and evaluating whether there was evidence of blas by management that represented a risk of materlal mlsstatement due to fraud, There are inherent limitations in the audit procedure5 described above and, the further removed non-compliance with laws and regulations Is from the events and transaction5 reflected in the financial statements, the less likely we would become aware of It. We did not identify any key audit matters relatlng to irregularities, Includin8 fraud.
THE CADOGAN CHARITY- A Reglstered Charlty (Number 247773) INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF THE CADOGAN CHARITY l¢ontlnvedl A further description of our responsibilities for the audit of the flnanclal statements Is located on the Flnanclal Reporting Council's web51te at.. www.frc.org.uk/audltorsresponslbllltle5. This descrlptlon forms part of our audltor's report. Use of our report Thls report Is made solely to the charltV5 trustee5, as a body, In accordance with re6ulatlons made Under sectlon IJ4 of the Charltles Act 2011. Our audlt work lias beer) uNdeiLdken so Ihdt we mlght state to the charlty'5 trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law, wp do not accept or assume respoiislblllty to anyone olhei Ihan the chaflty arid the charlty'5 tiustees as a body, for our audSt work. for thls report, or for the opinions we have formed. Dlxon Wllson Audlt Servlces LLP, Statutory Audltor 22 Chancery Lane London WC2A ILS 26 January 2023 Date.. Dlxon W1150n Audit Servlces LLP Is ell8lble to act as an audltor In terms of settlon 1212 of the Companle5 Ad 2006.
THE CADOGAN CHARITY- A Reglstered Charity (Number 2477731 STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2022 Rectorfs Restritted Income Fund Generèl Permènent Endowment Fund Reitors, Permanenr Endowment Fund Unrestritted Income Fund Tot312021 Total 2022 Note Income and Endowments from: Donations and legacles 552,471 55ZN71 81D,616 Investment Income 1,540,916 I,YO,916 1.781.080 Total Incomln8 resourtts 2,093,387 2,093,387 2,591.696 Ejtpondlturè on: Ra151n8 fund5 24,616 24.616 26,822 2,746,403 ii.ooo 2,757,403 2,492,881 Total txp•ndlture 2,746.403 IL,CKJO 24,616 2.782,019 2,519,703 Galnslllossesl on Inve5tments'. Reallsed Unrea115ed 249,013 12,095,381) 249,011 12,095,381) 305,855 110.740.7761 Nèt Incomellexp•ndltur•l 1653,0161 iii,0001 11,870,984) 12,535MOOI 110,362,928) Transfer between funds Iii,oool 11.000 N•t m0m•nt In fundi 1664,0161 11,870,984) 12,535,000) 110,362,928) Fund balanc brou8ht forward 718,535 1.109 54,096,075 64,895 $4,880,614 65,243,542 Fund bal•nces Carrled forward £54,519 £1,109 £52,225,091 £64,895 £52,345,614 E54,880.614 The notes on pages 11 to 21 form part of these accounts.
THE CADOGAN CHARITY- A Registered Charlty (Number 2477731 BALANCE SHEET at 5 April 2022 2022 2021 Note Flxed assetg InvesLmenLs 52,288,941 53,906,900 Current assets Cash at bank 62.673 979,714 Current Ilablllt1•5- amounts falllnB due wlthln one year Accrued expenses 6,000 6,000 Net current assets 56,673 973,714 Total assetsloss current £52.345.614 £54,880,614 Funds UNRESTRICTED FUND General Fund- Income 54,519 718,535 RESTRICTED FUND Rectors, Fund- Intomè 1,109 1,109 ENDOWMENT FUNDS General Permanent Fund Rectors, Permanent Fund 52,22S.091 64.895 £52,345,614 54,096,075 64,895 £54.880,614 The notes on pa8e$ 11 to 21 form part of these accounts. Approved bv e trustees on 26 january 2023 and sl8ned on thelr behalf by.. The Earl Cadogan KBE DL- Trustee
THE CADOGAN CHARITY- A Reglstered Charlty (Number 247773 io CASH FLOW STATEMENT for the year ended 5 April 2022 2022 2021 Note Net movement In fund5 Add net losses galns on investments Deduct interest income shown in Inve5tin8 actlvltle5 12,535.0001 Iwi6,368 18631 110,362,928) 10,434,921 12,3421 11,778,738) Deduct dlvidend1ncome shown In inve5tin8 a¢tivitSes 11,540,053) Decrease In creditors Net cash used in op•ratSng actlvltles 12,229,548) 11,709,087) Cash flows from InvestlnB artlvltles Olvldends recolved 1.540.053 1,7711,73R Interest recelved 863 2,342 Proceeds from sales of Investments 5,181,293 1,980,510 Purchase of Investments 15,409,70Z) 11,866,127) N•t cash provlded by In¥gstSn8 actlvltles 1,312,507 1,895,463 Change In cash and cash equlvalents In the year 1917,0411 186,376 Cash at bank and cash equlvolents brought forward 979,714 793,338 Cash at bank and cash equlvalents carrled fi)rward £6Z,673 £979,714 The notes on pages 11 to 21 form part of these accounts.
THE CADOGAN CHARITY- A Reglstered Charity (Number 2477731 NOTES TO THE ACCOUNTS for the year cndcd 5 April 2022 ACCOUNTING POLiaES The principle accountln8 pollcle5 adopted, judgement5 and key sources of estbmation uncertalnty in the preparatlon of the accounts are as follows.. Key Judgements und sources of C5fimotlon uncertainty The valuatlon of un115ted share5 Is consldered to be the kèy 8rp.R of estim&tlrJn tjncertalnty. The Iinllsted shares are valued at the trustees, estlmate of thelr market value. using the net asset value method with a 65% adlu5tment to reflect deferred tax, lack of marketability and lack of control. The value of these Invpstmpnts at the year-end was £47,440,00012021 £49,380,000). Bosis of preparotlon The accounts are prepared under the hlstorlcal c05t convention modlfled to Include the revaluatlon of Investment5. The accounts are In accordance wlth the Accountlng and Reportlng by Charltie5 Statement of Recommended Practlce appll¢able to charltles preparln8 their accounts in accordance with the Flnanclal Reportlng Standard appllcablc in thc UK ond Ropubllc of Ireland IrftrJ 1021- Charltles JORP IFRJ 1021 ¥flecllve l January 20191, the Flhantlal Reportln8 Standard appllcable In the UK and Republlc of Ireland IFRS 1021 and the Charltles Act 2011. The charlty constltutes a publSc benpflt entity a5 defined by FR5 102. Income Olvldends and Interest are recorded In the statement of flnanclal 0Ctlvllles when they are due to the charlty. Voluntary Sncome Is re¢ogn15ed In the statement of financlal actlvltles when there Is evldence of enililement to the recelpt and the recelpt is probable and the amount can be measured relSably. This Includes taxallon recoverable deducted from distfibutlons. Expendlture All expenses are Included In the statemenl ot tlnanclal activltles on the accruals ba515. Gronts Grant5 are Included In the statement of financlal actlvltles at the tbrne they are approved by the trustees. Where 8rants are subject to ¢tsndition5, they are recosnise(J when those condltlons are met. No pr¢vislon15 made for Intended 8rants which are subject to funds being avallable. Fund ac¢ountln9 Unie5trl¢ted Income funds are avallable lo spend on attivlties that further any purposes of the charity. Restricted income funds are solely used for the partlcular purposes of the charlty's work, 5peclfled by the donor. Permanent endowment funds requlre that the trustees invest the capltal In perpetylty. Investments Investments are a form of ba51c financlal Instrument and are measured at thebr falr value through the Statèment of Financial Actlvitles. Listed investments have been valued at mid-market value on 5 April 2022. Unlisted investments havo been valued at the trustèes, estimate of their market value, uslng the net asset value method wlth 3 65% adjustment to reflect deferred tax, lack of marketability and lack of control.
THE CADOGAN CHARITY- A RegSstered Charity {Number 2477731 12 NOTES TO THE ACCOuTrs for the year ended 5 April 2022 ACCOUNTING POLICIES (CONTINUED) Cush ut btsnk and brokers deposits Cash In the balance sheet comprises cash at bank and is stated nel of any book overdrafts. Broker5 deposits are also included in cash at bank. Creditor5 Credltor5 are recognised where the charlty has a present obllgation resultln8 In the transfer of funds to third party. VOLUNTARY INCOME 2022 2021 Dlstributlon from Lady Cadogan 1983 settlement D15trlbutlon from the Cado8an Pension Trust 547,228 5,243 £552,471 797,174 13,442 £810,616 The dlstributlon5 were made wlthout any reservatlon of beneflt. The Rt Hon The El8hth Earl Cadogan KBE DL, a trvstee of The Cado8an Charlty, 15 also a trustee of the Lady CadoBan 1983 Settlement and the Cadogan Penslon Trust. The Viscount Chelsea DL a trustee of The Cado8on Charltyi Is also a tNstee of the Cadogan Penslon Tru5L INVESTMENT INCOME 2022 2021 Dlvidends from quoted Investments Gross Snterest from quoted investments Dlvldends from unquoted investments Bank deposlt Interest 123.523 760 1,416,530 103 59,546 1.135 1,719,192 1,207 £1,540.916 £1,781,080 RA151NG FUNDS In 2022 and 2021 the full cost of raising funds related to Investment manager fees.
THE CADOGAN CHARITY- A Re8lstered Charlty (Number 247773) NOTES TO THE ACCOUNTS for the year ended 5 April 2022 CHARITABLE ACTIVITIES GRANTS Z022 2021 To charltles supportlng soclal and w•lfare aspects wlthln the ¢ommunlly'. Anglican Centre in Rome Ardlngton Church Braemar Cornmunlty Limlted & the Ralslng the Standard Project Brornpton Oratory Cardlnal Hume Centre Chelsea Pl)yslc Gartleii Chlldren's Trust Chrlst the Klng Parlsh In Brora Dunkeld & Oirnam Sports & Lelsure Hub East Sutherland Rescue As50clatlon Ersklne ICarln8 for Scottlsh veteransl Gla55 Door 10,000 10.000 10,000 5,ChJO 2,000 10,000 2UU,UVU 50,000 4,000 200,000 loo,000 20,000 65,000 237,980 2,000 loo,000 loo,000 5.000 75,000 Llfelltes London Playln8 Flelds Foundatlon MaggSe's Natural Hlstory Museum NSPCC Royal Trlnlty Hosplce PTlnce'5 Trusl Ralnbow Trust Royal Hortlcultural Soclety Samarltans Scottlsh Mountain Rescue St Ma5 Church Birnam Stable Family Home Trust Ulysses Trust Wellbelng of Women Women's Trust Total charltles supporting 50clal Jnd welfare asperts wlthln th• cornmunlty 75,000 500,000 10,000 250,000 10,000 25,000 25,000 3.000 200,000 15.000 5.000 15,000 5,000 10,000 5,000 io,ocx) 25,000 5,000 5,000 £1.358.000 £1,050,980
THE CADOGAN CHARITY- A Reglstered Charlty INumber 247773) 14 NOTESTO THE ACcOUs for the year ended 5 April 2022 CHARITABLE ACTIVITIES {CONllNUEDI GRANTS ICONTINUEDI 2022 2021 To ¢harltles supportlng med17 research.. Alzhelmer's Research UK 10.000 10,000 Bart5 Charlty Brltlsh Heart Foundatlon 50,1)00 10,000 50.000 Chelsea & Westminster Hospltal- Best for You Cystlc Flbrosis Trust Downs Syndrome Associatlon IDRF 5,000 s,000 50,CKJO London Alr Ambulance 50,000 50,1XJO Mo8hlssi Laser Trust Fund Parklnson's UK 25,000 25,fx)O 5,000 5,000 10,000 loo,000 10,000 10,000 Royal 8rompton & Horefield Hospltals Royal Colle8e of Surgeons Royal Hospital for Neuro4isabillty Scotland's Charity Alr Ambulance ISCAAI St john of Jerusalem Eye Hospltal Group St Luke'5 Healihcare for the Cler8Y Tornmy's World Slght Foundatlon Total ¢harltl•s supportlng medlcal r*5•ar¢h 10,000 100,000 10,000 10,000 5,000 3,000 2,)0 2,1)00 £330,000
THE CADOGAN CHARITY- A Reglstered Charlty (Number 247773) NOTES TO THE ACCOUNTS for the year ended 5 April 2022 CHARITABLE ACTIVITIES (CONTINUED) GRANT5 ICONTINUED) 1022 2021 To mllltary charltle5', A8F the Soldlers Charltv 81a¢k Stork Charlty Coldstream Guards 25,000 25,000 250,000 10,000 10,000 25.000 15,000 11,000 5,000 150,000 50,000 £291,000 Commonwealth War Grave5 Foundatlon F.A.N.Y 15,000 10,500 GuSld Alr Pllots Trust (7urkha Welfare I rust Royal Hospltal Clielsea- In-Hvuse Mobillty Fund Tal8h Mor Foundatlon Total mllltary eharltles 150,000 £460,500 2022 2021 To charltles supportln8 ¢onser¥atlon and the ¢nvlronment'. Blue Highlands Raptor Rescue & Avlan Conservatlon Centre Bumblebee Conservation Trust Mlsslng Salmon Alllance The Game and Wildllfe Trust Thirle5tone Castle Charltable Trust 25,000 5,000 50,000 15,000 so,000 150,000 10,000 Total charltles supportln8 Conservatloh and the en¥lmnment £90,000 £215,000
THE CADOGAN CHARITY- A Reglstered Charlty INumber 247773) NOTES TO THE ACCOUNT5 for the year ended 5 April 2022 CHARITABLE ACTIVITIES {CONTINUEDI GRANTS (CONTINUED) Z022 2021 To edu¢atlonal charltle5.' Clty & Guild5 of London Art School Coram Countryslde Learnlng Scotland Foundling Museum Friends of CCHT Federation Heathlield Sthool Royal Masonlc School for Glr15 Cadogan Hardship Fund Royal Masonlc khool for Glrls- Cadogan Rose Bursary SAUC Oatrldge Carnpus Tall Shlps Youth Trust Total educatlonal ¢harltles 20,000 4S,000 10,000 10,000 10.000 30,000 loo,000 40.000 124,000 10,000 IL,000 44,000 62,000 10,000 2,000 £344,000 £273,000 2022 2021 To anlmjl welfare ch8rltles'. Batter5ea Cats & Do85 Home Blue Cros5 20,000 25.000 20,000 10,000 1.000 175,000 10.000 loo,000 Brooke Actlon for worklng horses & donkeys Canlne Partner5 20,000 10,000 1.000 008s Trust Game & Wlldllfe Trust Red Squirrel Survlval Trust Royal Veterinary College WWF-UK 10.000 loo,000 Total anlmal welfare Charlrles £366,000 £146,1JlO TOTAL DONAT1014S £2.741.000 £2,475,480 RECTORS, FUND Under the deslgnatlon dated 3 December 1985 the Seventh Earl CHdoBan directed that the income arising on the glft from Cadogan Holdings Company (now Cadogan Holdings Limltedl should be pald to one or more of the rectors of Holy Trinlty Church, Sloane Street, St Luke's Church, Christchurch Church and Chelsea Old Church, as the trustees may from time to time decide in reimbursement of the rectorfs or the rector5' parochial worklng expenses. Any surplus income arising shall be applled In such manner as the trustees may declde. During the year £ll,00012021- £12,000) wa5 paid to the rectors.
THE CADOGAN CHARITY- A Re8lstered Charlty (Number 247773) 17 NOTES TO THE ACCOUNTS for the year ended 5 April 2022 CHARITABLE ACTIVITIES (CONTINUED) GOVERNANCE COSTS 2022 2021 General fund Inwme: Audlt fee 5,403 £5,403 5,401 £5,401 The trustee5 recelved no remuneratlon or expenses durln8 Ihe year12021- nlll. INVESTMENTS GENERAL nERMANENT FNI)OWMINTFUND Market Value at 5 Apri12022 LISTED Cost ,617,277 SUTL Cazenove Charlty Aesponslble MultlAsset Fund 4,997,653 4,848,941 £4,997,6S3 £4,848,941 Morket Value ot 5 Apr112022 Cost UNLISTED Cado8an Group Holdlngs Llmlted.. 4,982,083 Ordinary £1 shares Cadogan Hotels Group Llmlted.. 3,923,390 Ordlnary £1 share5 60,000 46,100,000 1,340,000 £60,CQO £47,440,000 The holdln8 of ordinary shares In Cadogan Group Holdin85 Limited and Cado8an Hotels Group Llrnlted comprlses 4.15% of the allotted shares of each company. Vlscount Chelsea DL a trustee of the charlty, is a director of both companSes. Durlng the year the d)arfty received incorne of £1,416,53112021 - £1,719,192) from Cadogan Group Holdlngs Llmited.
THE CADOGAN CHARITY- A Reglstered Charlty (Number 247773) IB NOTES TO THE ACCOUNTS for the year ended 5 April 2022 INVESTMENTS (CONTINUED) Investment movements in the year were as follows.. UK investments Ilsted on a recognised exchange Unlisted Investments Total Market value at 5 Aprll 2021 4,526,900 49,380,000 53,906,900 Addillon5 DSsposals Net gain/llossl On revaluatlon 5,409,702 14,932,2801 1155,3811 5,409,702 14,932.2801 12,095,381) 11,940,000) Market value at 5 Aprll 2022 £4.848,941 £47,440.000 £52,Z88,941 Historlcal cost at S Aprll 2022 £4,997,653 £60,000 £5,057,653 CASH AND CASH EQUIVALENTS RECONCILIATION 2012 2021 Cash in bank Brokers deposlt Total osh and ¢•sh equSvalent5 44.842 17,831 £62,673 708,858 270,856 £979,714
THE CADOGAN CHARITY- A Reglstered Charlty {Number 2477731 NOTES TO THE ACCOUNT5 for the year ended 5 April 2022 ANALYSIS OF PftINCIPAL STATEMENT OF FINANCIAL AcfiviTIES COMPONENTS For the year ended S AprS12021 Rectorfs Restricted Income Fund General Permancnt Endowrnent Fund Rectors, Pormonont Endowment Fund Unr•itrlct•d Income Fund Total Note In¢ome •nd Endowments from: Donatlons and le8acles Investment Income 810.616 1,780,738 2,591,354 810,616 1,781,080 342 Tot•1 In¢omln4 resourMI 342 2.591,696 Expendlture on: Ralsln8 funds 26,822 26,822 2.492,8BI 2,480,881 2,480,881 12,000 Totsl eMpendltur• 12,000 26,822 2.519,703 Gilnslllo$se$l on InvÈstmentS.' Reallsed 301,162 110,740,7761 4,693 30555 110,740.7761 Unrea115ed N•t Incomellèxpendlturel JIO,473 111,6581 110,466,436) 4,693 110,362,9281 Tran$ler between fund5 Iii,0001 11.000 N¢t Mov•mtnt In lundi 99,473 16581 110,466,436> 4,593 110,362,928> Fund balaThs br¢uiht lorwaid 619,062 1.767 64,562,511 60,202 65.243,542 Fund b•lances urrled lorward £718,S35 £1,109 £S4,096,075 £64,895 £54,880,614
THE CADOGAN CHARITY- A Registered Charity (Number 247773} 20 NOTES TO THE ACCOUNTS for the year ended 5 April 2022 ANALYSIS OF NET AssEfs BETWEEN FUNOS At 5 Apr112022 Investment5 Bank balances Credltors Total Unrestrlcted General Fund Restrlcted Rector5' Fund 60,519 1.109 16,0001 54,519 1.109 Endowrnent Funds.. General Permanenl Fund Reclors, Permanent Fund 52,224,046 64,895 1,045 52,225,091 64,895 £52,288,941 £62,673 £16,000) £52,345,614 At S Aprll 2021 Investments Bank balances Credltors Total Unrestrlcted General Fund Restrlcted Reclor5' Fund 724,S35 1,109 16,0001 718,535 1,109 Endowment Funds.. General Permanent Fund Rectors, Permanent Fund 53,842,005 64,895 254,070 54,096,075 64,895 £53,906,900 £979,714 £16,000) £54,880,614 10 TAXATION Tlie charity is exempt from tax on Income and galns falling withln seaion 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charltable objecrs.
THE CADOGAN CHARITY- A Reglstered Charlty {Number 247773) NOTES TO THE ACCOUNTS for the year ended 5 April 2022 li FUTURE DONAnONS The trustees have resolved that slgnlfbcant donatlons to eertain charltles will be paid out of future income. The posilion relating lo these intentions Is as follows.. Payable in the year tts S April 2023 Payable In the year to S Aprll 2024 Payable In the perlods post S Aprll 2024 1,400,000 1,250,000 1,000,000 £3,650,000 No provlslon has been made Sn the accounts for Intendeil donations, as these are subject to future funds belng avallable and payment5 are at the dlscretlon of the trustee.4. 12 FINANCIAL ASSETS ANO LIABILITIES The followlng are flnanclal Ilabllltles that qualSfy as ba51c flnancial instruments and are InS1Sally recc8nlsed at transactlon value and subsequently measured at thelr amortlsed cost.. 2022 2021 CreditOfS £6,000 £6,000 The followlng are flnanclal assets that quallfy as baslc flnanclal Instruments and are InStlally recognlsed at transactlon value and subsequently measured at thelr falr value5 at the balance Sheet date uslng the closlng quoted na-l ket prlce.. 2022 2021 Flxed asset investmènts £52,288,941 £53,906,900