NMAN CHARITY ANNUAL REPORT AND ACCOUNTS 31ST DECEMBER 2021 PAYNE HICKS BEACH Solicitors 10 New Square Lincoln's Inn London WC2A 3QG PAC29D.XLS12021
THE INMAN CHARITY CONTENTS Adminislralive information about th8 charity. ils Iruslee and advisers DirectOfS' Port 9-12 Independent auditor's report Acco 13 Slalemenl of financial aclivllies 14 Comparative Ststemenl of financial aclivili88 15 Balance sheet 16-20 Principal accounting pollclgs Notes lo the accounts endix 28 GranL8 made
THE INMAN CHARirY ADMINISTRATIVE IN ORMATION ABOUT THE CHARITY ITS TRUSTEE AND ADVISERS CORPOFIATE TRUSTEE Inman Charity Trustees Llmited DIRECTORS OF THE CORPORATE TRUSTEE THE DIRECTORS A.L. Walkgr Miss 8.M.A. Slrother M.R. Math8WS J.D. Langdon N.J. Wing8r8lh (appointed 20 Octobgr 20211 PRINCIPALADDRESS 10 New Square Llncoln's Inn London WC2A 30G WEBSITE ADDRES& www.1nmancharily.org RITY REGISTRATION NUMBER 261366 UDITOR Buzzacott LLP 130 Wood Slreet London EC2V 6DL INV STMENT MANAGER Quilter Chevlot Senaior Houso 85 Queen Vlctorla Streel London EC4V 4AB NKERS CAF Bank 25 Klngs Hill Avenue Kings Hill West Malllng K9nt ME19 4JQ SOL5C'ITORS AND ADMINISTRAT Payn8 Hid(s B88ch 10 New Square Lincoln'5 Inn London WC2A 3QG
THE INMAN CHARI DIRECTORS. REPORT- 31ST DECEMBER 2021 The directors ol the corporate trustee (the diTectorsl present their stalulory report logelhfjr with the accounts of The Inman Charity for the year ended 31st December 2021. The accounts have been prepared in accordance with th8 8ccounting policles set out on pages 16 10 20 of th8 attached accounts and comply with the Charity's trust doed. appllcable laws. accounting standards Iunited Kingdom Generally Accepted Accounting Practic81, and Accountlng nd Reporting by Charities.. Staternent of Recommendgd Praetlce appllcable to charities preparing their accounts in 8ccord8nce with the Financial Reporting Standard applic.able in the United Kingdorv. and Republic ol Ireland IFRS 1021. Second edition (October 20191. GOVERNANCE, STRUCTURE AND MANAGEMENT Governon¢e The Inman Charity is governed by a trust deed dated 16th Jung 1970. The charlty is registered under the Charlties Act 2011, Chanly Registration Number 261366. The statutory power ol appointrnent of new dlredors of Ihe corporatg trustee by the continuing directors applies. The names of the directors who served during tho year ara set out as part of the administrative Information on page 1 OT this Annual Report and Accounts, Bri81 biographical details are given bel<)w.' A.L. Walker A.L. Walker was appolnted a director in February 1981. Hè is a relired Chariered Tax Adviser. He was lor many years employgd as 8 prlneipal in the Private Clignt Department of Payne Hicks Beaoh. Ml•s B.M.A. Strother Miss B.M.A. Strother was appointed a director in March 1998. She has work8d for many years in heallh, social care and the older people's charitable sectoi and Is a Trustee ol Healthwatch Cily ol London. M.R. Mathews M.R. Mathews was appointed a d1CtOr in November 2000. He Is a IBtired solicitor. H8 was lor many years a partner in Clifford Chance and is also a former Presid8nt ol the Law Society. J.D. Langdon J.D. Langdon was appointed a dirgctor In November 2002. He is Emeritus Professor of Maxillolacial Surgery al King's Colleg& London.
INMAN CHARITY Pa DIRECTORS, REPORT- 31ST DECEMBER 2021 GOVERNANCE, STRUCTURE AND MANAGEMENT Icontlnuedl N.J. Wlngerath N.J. Wingerath was appointed a dir8Ctor In October 2021. He is a retired Trust and Tax PTaclition8r and was Head ol the Trust and Tax Department of Payne Hlcks Beach prior lo his retirement. On agreeing to their appointtnent. the directors are thoroughly briefed by Ihgir co-directors on Ihg history ol the charity. the day-to-day management, the respon8ibilities of the dire¢lors, the current objectives and the fLJture plans ol th8 charity. Dlrector8' responslbllltles slatgment The directors are responsiblg lor preparing Ihe directors. report and accouryts in accordance With applicable law and United Kingdom Accounting Standards IU4ited Klngdom Generally Accepted Accounling Practic8}. Charity law in England and Wales requires Ihg dir$ctors of the corporate trustee (the directors) to prepare accounts for each financial ygar which give a true and fair view of th8 State of affalrs of Ihe eharily al the year end and ol ils incorlle and expenditure during that year. In preparing accounts. glvin9 a true and fairview the directors are requlred to.. Selecl suitable 3¢counting policies and Ih8n apply them ¢onsislendy', Observe the methods and prlnciples ol Acwunting and Reporting by Charities.. Statemenl of R8commended Practice applicab5e to charities preparing their account5 in accordance with the Financlal Reporiing Standard applicable in the UK and Republic of Ireland IFRS 1021. Make judg8tnants and eslimales Ih8t are reasonable and prudent., State whèther applicable United Kingdom Accounting Standard5 have been followed, 8ubj@et to any.mat&rial departures disclosed and explained in the accounts- and Prepa the accounts on the going concern basis unless il is inappropriate to presumg that th8 charily will continue lo operate. The directors arg r85ponsible for keeping proper accounling records whlch disclose wilh reasonable accuracy al any time the financial p051tlon ol Ihe Charily and which enable thom to ensure that the accounts comply with the Charities Act 2011. applicable Charily (Accounts and Reports) Regulations and the provisions ol the trust deed. They are also responsiblg lor safeguarding th8 assets of the charity and hence for laking reasonable steps lor the prevention 8nd detectlon of fraud and other irregularities. The directors are iesponsible for th8 maintonance and integrity of the charlly and linanci&l Information included on the charitls website. Legislation in the United Kingdom governing Pieparation and dissemination ol èccounts may differ from legislation in other jurisdictions.
THE INMAN C ARIT Pa DIRECTORS, REPORT- 31ST DECEMBER 2021 GOVERNANCE. STRUCTURE AND MANAGEMENT {Continugdl structure and rn#nag•mont reportlng The dlrectors are ultimately responsible for the policies, acliviligs and assets ol the charity. They meet twic6 a year to review the development5 Wlth regard to the charity, its grant giving aclivilie and make any important dgoisions. When necessary, the directors seek advice and 5UPPOrt from the charitrfs professional advisers inclLiding the inveslmenl manager, 501ieitors and accountants. Thg day to day management ol the charity's activities, and the implernentation ol policies, is delegated to the Privat¢ Client Department ol Payne Hicks Beach. The Department 8n5ures that grant appliealions are processed and presented to the diredors as appropriate., il administers payments and keeps the books and records of th8 eharity. Al Iheir meetings the directors rgV18W the investment perlorrn8nce. and a represenlalive ol the investment manager aliends the meetings to update the directors in detall on the porlfolio. The directors review the proposa15 ft)r grants lo be m3de and approve such grant5 as appropriat8. RSsk management In line wlth the requirement loi charlty trustees to undertake a rlsk assessment 6xercise and report on th8 sarn8 in the.ir annual report, the directors have looked at the risks The Inman Charity currently laces and have reviewed the safeguards in place. or needing to be put in place, to de41 with them. In addllion lo the risk5 asso-lated with COVID-19 Is66 below), th8 directors have identified thre8 rna1n areas where risks may occur.. Govern8nc8 Operational Flnanclal Governanc8 looks at the continuity ol trusteeship, the skills and background of the directors and the policies ol regular meetSngs of the directors lo review Iheir aims and activities. Operational looks at the Tisk inhorent in the delegalion of 81atuttsry and legal requir8ments ol the charity, ils management and secretarial functions and delegation ol rtain ol those lunclions, 8nd its grant giving activities. Flnan¢lal risks includ8 thos8 inherent in delegation of investment management and euslody lo an indep8ndent investment manager, the operation ol the bank acwunts. the financial record keeping of the charity. its investment policy, audit and review procedures. Havlng assessed the major risks to which the charity 18 exposed. In particular thos8 relating to Its investrnent5 and its finances, the dirgctors believe that by ensuring ctsnlrols exist over key financial syslem5 incorporatlng the systerns and controls Implemented by Payne Hicks 8each, and by delegating the invèstment management function to an investment manager, subject to regular onitoring, including periodic reviews ol performance against bgn¢hm8rk, they have eslablish9d efleotive Systems to mitigaie those risk8. In reachlng this conclusion, th8 directors have COn5idored the impact on the charity of the COVID-19 pandemic. The key risks faced by th8 Charity, as Identified by the director5, are descrfbed below together with the principal ways in which they are rniligated.
AN CHARITY DIRECTORS. REPORT- 31ST DECEMBER 2021 GOVERNANCE, STRUCTURE ANO MANAGEMENT Icontinugdl Risk manag•mgnt Icontlnuedl The charity's princlpal asset comprises listed investrnents, the value ol which is depend8nt on movements in VK and world stock markets. The investmgnts ale managed by reputabl8 Investment managers who adher8 to a policy agreed by the director8, The directors meet twice y8ar with the Investment managers and the manager's perf0mnCe and that ol the portfolio are rnonitowd. The investment strategy is assessed r8gularly to ensure it remains 8ppropriale to the charitls needs- both now and in the future. The charity carries out ils objectives by providing grants to institutions that are also UK registered ¢h8rilies, whose oblects comply with th8 charitls criteria. There is a risk that a grant provid8d by the charity may not r88ch the intended recipient andlor may be used for purtx)8e5 not consislenl wilh the charity's objects. Whilst the directors are mindful ol th8ir own obligation lo ensure that the charity benefits the public generally, they take some assuran from the fact that recipients ol granls are themselv88 rg9ulÈted to ensure that they op8r8te lor the public benefit. Potential r8cipienis ol grants are idenlifigd by the directors individually in areas where il is percelved that public benefit will be achieved. The opportunity to benefit is not restricted in any way oxcept that grants are reslrict8d to bodies registered in the UK, not least to lacilitale the directors being 8bl8 to follow up on the eflicacy of the grants made. In Ihg other respects grants are not limited in ap.y way except that the CipIents should have a charitab18 need. Risks are kept under regular revlew and lully reass8SS8d every three years. ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Actlvltles and spgcitie obl•ctlves The directors operBte a grant givir4J policy. provldlng funds for such charitable object or institution as the director8 thlnk flt. In 8dditlon to suppOrng a wido range of charitable organisations, the charity makes a regular payment to the Vlotor Inman Bursary Fund I'the Fund'l al Uppingham School of which the 58tt1or had been a lif8lon9 SUPPOrter. The charity makes a payment of £25,000 per annum and this is reviewed annually. Institutions intending to maka an appeal are directed to the webslte www.inmancharity.tsrg where mortr detailed information concerning particular areas ol support. appllcation guidelines. exclusion5 and grants awarded can b8 found. The directors aim to make gr8nts totalling approximately £350.000 per annum in accordanc8 wilh Ihe guidelines Set out in the grant giving policy 8$ summarised on the charity'5 Website. bul du8 10 the effects ol Ihts COVID-19 pandemic, limited don8tions were made during 2021. The directors confirm thal trey hav8 r8ferred to the guidance contained in the Charity Cornmission'5 guidance on public benefit when roviewing the charity's aims and objectives and in planning fulurg 8clivilies ai)d settlng the grant rnaking policy lor the year. The directors therefore con8idor that the eharllys activities are for th8 bènefit of the public generally.
THE INMAN CHARITY IRECTORS. REPORT- 31ST DECEMBER 2 21 ACTIVITIES, SPECIFIC OBJECTIVES AND RELEVANT POLICIES Icontlnuedl Key managernent The directors consid8r the diredors ol th8 corporate trustee eomprlse the key management personnel of the charity in charge of ¢Jirecling and controlling, running and operating the charity on a day to day basis. All d1CtOrS give ol their lime freely and no director received any r&mun8rallon in lh8 year. D8t8ils ol 15ir8Gtors' expenses and rèmuneratlon and any related party Iran8aclions ar& disclosed in note 4 to the a¢¢ounls12021 no expenses paid). A8 noted above. Ihe day or day managernent of the chaflty's aolivities. and the implementaiion ol policie5, is delegated to the Private Client Departrnent of Payne Hlcks Beach. Investment policy Thè charity has a portfolio ol listed investments with 8 market value as al 31st December 2021 of £6.298,086. There ar8 no restrictions on tho charity's power to invest. The inveslfflenl strategy is agreed beeen the directors and the investment manager. and is regularly VIewed. This 15 the subject of a policy statement which has been completed by the diredor5 and forms an integral part ol the agreement with the investrnent manager to provlde investment mana9ement service5. 'rhe more 8ignific8nl pThnciples in the statemenl are.. Ih8t thts investment manager shall have due regard lo thg ne8d fr>r diverslfication. to piovid8 a benchmark lor performance of such 8 slruclured portfolio a composite index is ulilised, incorporating 25Dlo MSCI UK IMI. 45Q/o MSCI AC World ex VK, 12QA iBoxx £ UK Gills, 10°/o comprised ol iBoxx £ Gilt 1-5yr150Wol and MSCI AC World Index IACWII150%1, 5.5% 18oxx Sterling Corporates. 2.5Yo Bank of England Base Rate. The new perforffiance benchmark detailed above does not include th6 two property 0011eclives, being Ihe'chariligs Prop8rty Fund Income. and'mayfair Capital Investment Litniied Property Income Trust for Charib'es" as Quilter Cheviot dotss not have discretion on these investmènts. The investment manager is invited lo attend each forrnal meeting of the dlrectors to provlde a report on the performance ol the portfolio, comparison against the b&nchrnark Ènd general market issues. The dire¢tor8' invgStm8nt policy was reviewed and adjusled in December 2021. ACHIEVEMENTS AND PERFORMANCE Revlew of a¢tlvitig$ Total Investment Income received in th8 year (including interest reeeivablel amounted to £159,949. which equates to a yield 012.5% (based on the market v8lu8tion of the Investmenl S88ts at the year endl. There was a net loss of £1.679 on the income received in thg y88f on the Royal Albert Hall Debentur8 (du8 to COVID-19 rèstrictions and the closure ol the Royal Albert Hall). The directors awarded grants totalling £230,000 during the year in aoeordance with the charitvs grant giving policy set out above. A detailed list of all gr8nts and cornmltments made in the year Is Included In the Appendlx on page 28. The director8 maintain a lisl of charitable organisations which the charity regularly supports and this is reviewed at their half yearly meetings. The dlrectors feel that their objectives have been adequately mel this year.
THE INMAN CH IRECTORS, REPORT- 31ST DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE (Continued) R•vi8w of actlvities Iconllnuedl However, the directors are aware that there are external factors, which could affect the achievements ol their objectives as a significant part of the charity's asSBts are made up of investments and cash, the result ol which are depefjdonl on the general performance of the UK and overseas Stock markets. As noted above under risk management, In order to mlnimise this. the dire¢lors have sel prudent investment policSes and place reliance on the investment manager to monltor and advise on the necessary investment changes and suitable asset allocation. These aelions have bgen particularly relevant given the impact ol COVID-19. Inv•stm•nt performance During lh8 y8ar the charity's listed inveslmenls achieved an income yield o12.5¥. (based on the valuation ol investment assets at the year endl and, a capital incre8se 0113%. Th8 investment manager continued lo invest in accord8nce with the directors. investment policy 8$ reviewed and sel out earlier in Ihis report, Al the end ol the year the charitys portfolio ol investments comprised of 10% lixed interest, 18% property collectives. 28Vo UK equltie5 and 44Yo overseas equitles and fixed interest. The Royal Albert Hall Dehenlure experienced a nel loss in income due lo exceptional circumslances. The directors are satisfied with Ihe performancè of tha invèstm8nts and ar9 satisliEd that Ihalr SnvestrnEnt objectives will be mpl over the medium term. FINANCIAL REVIEW Results for the year A summary of the yearfs results can be found on page 13 of this pOri and accounts. During th8 year ended 31st December 2021, lolal income amounted to £163,06512020- £128,942), being income arising from the charilrfs investments and cash depDsIIs. The director&awarded grants tolalllng £230,00012020- £50.0001. incuried investment management costs of £25,99412020- £23,786), granl administration ¢0sts 01 £39,99712020- £37,756), governance costs of £3,144 j2020- £3,048) and a net loss on the Royal Alberi Hall debenluro of £1,679. Total expenditure was £300.81412020- £114.5901. There were net inve5ttnent gains during the year of £726.47812020. gains £228.8541. Thls results in a n8t incr88se in funds during the year of £588.72912020- Increase £243.2061. Reserves pollcy and flnaneial posllion ReseNgs polley Th8 8ndowm8nl fund represents the dlsposal prtsce¢d$ ol 8 property which was received by ¢he charity on the death of the settlor. The directors have the p¢)wer lo meet adminislralive expenses Irorn this fund and may apply thg income Irom Ihe fund towaras the general purp088s of th8 charity.
THE INMAN CHARITY DIRECTORS. REPORT- 31ST DECEMBER 2021 FINANCIAL REVIEW Icontlnuedl Reserrffrs pollcy (contlnued) The eharity is operated as a grant giving ¢harily, and the diredors. policy is lo administer Ihe investment assets OT) an absolute relum basis and usually seek to distribute £350,000 in grants in each financial year. Flnanclalposlllon The balance sheet shows total funds of £6,793.887 comwising gndowment funds of £5.123,201 and unrostrided funds of £1.670,686. The unrestricted fund comprises amounts which ultimately are free reserves but whieh are held by the directors for investment so as to ensure the continued generalion ol in¢omg in future pgriods, Ihergby helping 10 safeguard Ihg lon9 tgrm $xislen¢g of the charily and the achievement of Its oblectives. The size ol the unrestrlcted fund sustains and supports the levels ol donations which th8 diiect015 wish to rnaintain and enhance over lime. The dir8otors consider freg reserve5 to b8 adequate bul not excessive in the light of itt8 tharity's serves policy set out abrlve. Future plans The directors do not anlicipale any significant changes to the charity or ils aclivilies over the next Iwo to fiv& years. It is their intention to mget the following objgCtiV8S'. To ensure the investment performance achieves the criteria sel by them so Ihal there are sulficlent funds lo meèt their grant giving policles. To conts'nue lo make grants al a similar. if not higher, level. In response to the COVID-19 outbieak. the eharity is proacttvely reviawing grant msklng actlvlties to onsure continued support to benefic4aries. The directors have reviewed the rlsks that COVID-19 poses to the charity and concluded that the d)arily is In a strong linaneial and op8ralion81 position and can ¢ontinu9 10 8UPPOrt bèneli¢laries now and for the foreseeable future. Signed on behalf of the directors ol the corporate trustee.. Directors ol the Co Approved by the directors of the corFK)rate trustee on.. 25A. .2022
THE INMAN CHARITY Pa DEPENDENT AUDITOR'S REPORT. 31ST OECEMBER 2021 INDEPENDENT AUDITOR'S REPORT TO THE OIRECTORS OF THE CORPORATE TRUSTEE OF THE INMAN CHARITY OPINION We have audited the accounts of th6 Inman Charity Ilhe'charity'l for th& year ended 31 December 2021 which comprSs& the statèment ol financial activities, the balanco sheet, the prlncipal ac¢ountlng pollcles and the notes to the accounts. The Iln8n¢ial reportlng framework that has been applled in their preparation is applicable law and UnStfjd Klngdom Accounting Slandaids, includlng Flnancial Reporting Standard 102 'The Financlal Reportlng Standard applicable in the UK and Republic ol Ireland, {Uniled Kingdom Gengially Accepled Accounting Piaclic81. In our oplnlon. the accounts-. gSv8 a tnfre and fair view of the stale of the ¢hafity's allalrs as al 31 Dernber 2021 and ol ils Income and expenditure for th& year then onded.. have b&&n properly prepared In accordance with Unlled Klngdom Generally Accepted Accountlng practi.. and have been prepared In accordance with the requirements of ¢hg Chariti&s Act 2011. BASIS FOR OPINION We conducted our audlt In accordance wilh International Standards on Auditing IUKI IISAS IUKII and appli¢8ble law. Our responsibllllies under those standards ar6 further described in Ihg audltorfs responslbilities for the audit of the ac¢ounts section of our report. We are Independent ol the charity in accordance with the 8thi¢al requlrements that are relevant to our audll ol the 8ecounls in the UK, including the FRC'S Elhlc81 Standard. and we have fulfilled our other ethical responsibilities in accordance wth lhasa requirements. We be15eve that the aiJdSt evldence w8 have obtained is sufficlent and appropriatè to provide a bas18 for our oplnlon. CONCLUSIONS RELATING TO GOING CONCERN In audltlng the accounts, we have concluded that the directors. usè of the going concem basis ol accountlng In thg preparation ol the accounts is appiopiiat&. Based on the work we have performed, we have not Idenllflèd any material uncert8lnlles relalSng to events or condillons that, individualty or collecllvely, may cast significant doubl on the charlly's ability to continue as a going con¢6rn for a period of at least twelve rnonlhs from whgn the accounts are aulho[Ised for Issue. Our re8ponsibilllles and the responslbllities of the directors wlh respect to golng concem are descrfbed In th& rèlevant sectlons ol this report. OTHER INFORMATION The dirgclors ale r8sponslblfy for ihe olher Informallc*n. The other information comprlsgs the Inlormatlon Included in the annual report and accounts other than the accounts 8nd our auditor's report thereon. Our oplnion on the accounts does not cover Ihe other Informatlon and we do not express any form of assurance conclusion Ihereon.
THE INMAN CHARITY Pa elo DE DEN AUDITOR'S REPORT- 31ST DECEMBER 2021 INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE TRUSTEE OF THE INMAN CHARITY OTHER INFORMATION Icontlnuedl In connection wllh our audlt of Ihe accounts, our responslbilily Is to rg8d th6 othèr Snfomialion and, In dolng so. consid8r whether the other information is materially In¢onslstent with the accounts or our knowledga obtained in the audit or olhermse appeals lo bo materSally rnisstaled. If we idenllfy such mat&rlal inconsistencies or apparent maleiial missl8ltsM&nis, we are required lo determine whtrlhgr thèrè Is a material misslalemenl in the aocounls or a materlal misstatement of th8 Other Information. 11. based on the work we have p8rfortned, we conclude that there is a maltsrlal mlsstatem&nt ol this other information, we are requlred lo report that fact. We have nothlng to report In this regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing lo report In respect of the followng matlers in relation to whlch tha ChaTilies Act 2011 requires us lo report to you If, in our oplnion= the information given In the dlrector's annual report is inconsistent In any material respect with the accounts., or 8uffl¢ient accounting records have not been kept; or the accounts are not In agreement with the accounting records and relums: or Wg hav@ not received all the information 8nd 8xplan8lons we require for our audlt. RESPONSIBILITIES OF DIRECTORS As explained more fully in the dirgctors. r8sponsibililies statement, the dlre¢tors are responsible for the preparation ol Ihts 8¢¢ounts and for being satisfied that they give a true and fair view. and for such internal ¢ontrol as thè directors deiermine is necessary to enable the preparation of 8c¢ounls Ihat are free from material misstalemenl, whelhor due to fraud or error. In preparing the accounts, thè dlrectors arg rèsponslble lor assessing the chaiity's ablllty to continue as a going con¢tsm, dls¢loslng. as applicable, mallers related lo golng concern and using the going ¢on¢trrn basls ol accounllng unless the directors either Intend to liquidate the charilyor lo ctrase operallons, or havo no realisllc allernalive bul lo do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE ACCOUNTS Our objectives are lo obtain reasonable assuran¢e about whether thè accounts as a whole ar8 free frorn material mlsstalemenl, whelhor (Sue to fraud r)r error. and lo issue an auditor's report that includes our opinion. Rtsasonablo assurance Is a high level of assurance, bul is not a guarantae that an audlt ¢onducted In accordance with ISAS IUKI will always delecl a malerlal mlsstat&ment whgn il oxlsts. Mlsstatèments can arlse from fraud or error and are considered materlal il. Indlvldually or In the aggregalg, they could reasonably be expected lo Inllu8ncè thè economic declslons ol users taken on the basis of these accounts.
THE INMAN CHARITY Pa e11 INDEPENDENT AUDITOR'S REPORT- 31ST DECEMBER 2021 INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE TRUSTEE OF THE INMAN CHARITY AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE ACCOUNTS IContlnued} IrregularSties. Includlng fraud. ar8 instances of non-compliance with laws and regulations. We design procedures In Ilne th our responslbilill85, oulllned above, lo delect material rnisslatements in respect ol irregularitles, Sncluding fraud. Th8 oxl&nl to whl¢h our procedures ar8 ¢apable of delecling IrgUIanties. including fraud is deialled below.. Our approach to Identlfying and assessing the Ilsks of material misslalernenl in respect of iriegularities. Sncludlng fraud and non-compliance with laws and regulations. was as follows.. the engagemgnl partner ensured that the engagement learn collectively had the appropriate eomptstence, capabilities and skills lo identify or recognise non-cornpliance wih applicable laws and r8gulalions' we obtalned an understanding of the legal arsd Tegulalory fi8rneworks that are applicable lo the ¢harltable company and delermin8d that the most significant frameworks which are dSrectly rolovant lo specific assertions in the financial staternenls are those that relate lo the reportSng Ir8mewoTk {Slalemenl of Recommended Practice.. Accounting and Reporting by CharStles prepailng Ihtrir accounts in accordance with the Financial Reporting Standard applicable In Ihe Unlled Klnfjdom and Republlc of Ireland IFRS 10218nd the Charilios A¢1 20111 and Ihose that relate lo data protection (General Data Protection Reaulationl. identified laws and regulations were communlcaled wlhln the audit team regularly and the team rernained alert lo instances of non-cornpllance throughout the audlL We assessed the susceplibilily ol the companys financial statemanis to matèrial misstal8menl. Inclu(Jing obtaining an understanding ol how fraud might occur. by.. making enquiries of managem8nt as to th&lr knowlèdge of 8¢tU81, suspe¢lgd and alleg8d fraud.. and conslderlng tho Internal controls In place to mlligale risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through managemerbt bias and override of controls. we.. performed analytical procedures lo Identify any unusual or unexpgclod relallonships; assess&d whether judgements and assumptions made In deterrnlnlng th& accountlng estimatos were Indicative of potential bias,. lesled aulhorisalion controls on expondlluie Items, ensuring all expenditure was approved in Ilne with the charitable company's financlal proc¢duros,' and P8rfomi&d substantive lesling on grant expenditure lo ensure Ihg expendlture Incurred complied with the fundlng agrèèmtrnls
THE INMAN CHARITY Pa e12 INDEPENDENT AUDITOR'S REPORT- 1ST DECEMBER 2021 INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF THE CORPORATE TRUSTEE OF THE INMAN CHARITY AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE ACCOUNTS Icantlnuodl In responsg to Ihg r16k of Irregularities and non-compliance with laws and regulations. we designed procedures whlch In¢luded, bul were not lirniled lo.. agreelng financial statement disclosures to underfwng supportlng docum8ntatlon' readlng the mlnules of meellngs of those charged with governance.. enqulrlng of managernenl as to actual and polenllal liligalion and claims. There are inherent limitations in OLJI audit procedures descrlbed abovg. Tho more removed that 18ws and r8gulalions are from financial transactions, the less likely It is thal we would become 8waie of non-compliance. Auditing standards also limit the audit procedures required to identify non-compllance with laws and regulations lo enquiry of the directors and other management and th8 Inspection of rogulalory arid legal correspondence. if any. Mat&rial mlsstatem6nts that arise due to fiaud can be harder lo delecl than those that arise from error as they may involve dèllbÈrat6 con¢oalmant or collusion. A further description of OUT responsibilities for the audit ol the accounts is located on the Financial Reporting Council's website al wN.frc.org.uklaudliorsresponslbS1itles. Thls d&scrlptlon forms patl of our auditor's report. USE OF OUR REPORT Thi8 report is made solely to the charity's dlrectors, as a body, In accordance with section 145 of th8 Char51ies Act 2011 and with regulations made under section 154 01 that Acl. Our audil work has been undertaken so that we might slate lo Ihe charity's direetors those matters we ar& roqulrod lo slate lo them In an audilorfs report and for no other purpose. To the fullest extent permitled by law. wo do not accept or assume responsibility lo anyone other than the charily and the charity's directors as a body. for our audll work, lor thls report, or for the opSnlons we have fomied. Buzzacotl LLP Statutory Aiidilor 130 Wood Street London EC2V 6DL Date.. 27 October 2022 Buzzacoll LLP is eligible to act as an audltor In tem)s of se¢tion 1212 of the Companies Act 2006
THE INMAN CHARITY STATEMENT OF FINANCIAL ACTIVITIES R THE. YEAR ENDED 31ST DECEMBER 2021 Unrestrlcted Endowment Nolas Fund Fund Total 2021 INCOME AND ENDOWMENTS FROM.. Investrnenls Investment income Interest receivable Swiss lax reclaim 159.949 29 3,087 159.949 29 3,087 TOTAL INCOME AND ENDOWMENTS 163,065 163.065 EXPENDITURE ON.. Raising funds Investment managemenl ¢osls Charitable activities Promoting and gnhandng charllable work 5,262 20,732 25,994 241,210 31,931 273,141 Royal Abert Hall Debenture 1,679 1.679 TOTAL EXPENDITURE 248,151 52,663 300.814 NET EXPENDITURE BEFORE INVESTMENT GAINS {85,086) 152,6631 1137.7491 Investment gainsllossgs Reallsèd Unrealised 72,045 114,028 140,528 399,877 212,573 513,905 NET INCOME AND NET MOVEMENT IN FUNDS 10D,987 487.742 588.729 RECONCILIATION OF FUNDS Total funds brought fOnard al 1st January 2021 1,569.699 4.635.459 6.205.158 Total funds carried forward al 31 sl December 2021 1,670,686 5.123.201 6.793.887 I rgcognised gains and losses are included In th6 abovo statement of financial acliwlies. l of the charills aclivilies derivgd from continuing operations during the above rinancial years.
THE INMAN CHARITY Pa 814 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020 Unrestrlcted Endowment Notes Fund Fund Total 2020 INCOMEAND ENDOWMENTS FROM.. Investm&nt8 Investment income Inlerest rec&ffvable Earlieryears lax repaymanl written off Royal Albert Hall D8benture 126,949 107 (57) 1,943 126.949 107 (57) 1.943 TOTAL INCOMEAND ENDOWMENTS 128,942 128,942 EXPENDITURE ON.. Raising funds Inveslmenl man8gemgnl Gosts Gharitab18 &Glivities Promoting and onhancing charitable wo 4,546 19,240 23,786 60.855 29,949 90,804 TOTAL EXPENDITURE 65.401, 49,189 t14,590 NETINCOME/fEXPENDITURE) BEFORE INVESTMENTLOSSES 63,541 (49.189) 14.352 Inv8slment gains Reali$8d Unrealised 37.584 56,550 (16.004) 150.724 21,580 207,274 NETINCOMEAND NET MOVEMENT IN FUNDS 75T.675 85,531 243,206 RECONCILIA TION OF FUNDS To181 funds brought fOard at 1st January 2020 1,412,024 4,J49,928 5.961,952 Total funds carried fonv8rd al 31st DeGembgr 2020 1,569,699 4,635,459 6.205,158 All rgcognised gains 8nd losses are Included in the above stslen7ent of fin&ncial activili6s. All of the charitys activilies derived from conllnuing operations dunng the above Iwo finanCialar$.
THE INMAN CHARITY Pa BALANCE SHEET- 31ST DECE 2021 2020 20 Nolos 2021 2021 FIXED ASSETS Investments 5,662,823 280,000 Listed Investments 6,298,086 Royal Albart Hall Debenture 280.000 5.942,823 6.578.086 URRENT ASSETS 1,007 305.798 Debtors Cash at bank and in hand 4,229 296,336 306.805 TOTAL CURRENT ASSETS 300,565 LIABILITIES.. Creditors.. Amounts falling due within one year {26,4701 165.7641 280,335 NET CURRENT ASSETS 234,801 6.223,158 TOTAL ASSETS LESS CURRENT LIABILITIE CREDITORS.. 6,812,887 Amounts falling due after more than one year {18,000} 10 (19,0001 6,205,158 NET ASSET 6,793.887 THE UNDS OF THE C TY Capital Fund Endowment Fund 4.635,459 11 5,123,201 Income Funds Unreslricled Fund 1,569.699 12 1,670,686 6,205.158 TOTAL CHARITY FUNDS 6,793,887 Approved by the directo Ihe corporate iruslee and signed on thèlr behalf by.. Directors of th orporale Trustee Date of Appi'oval.. 25A. thsE . 2022
THE INMAN CHARITY Pa e16 PRINCIPAL ACCOUNTING POLICIES- 31ST DECEMBER 2021 The principal accounting policies adopted, judgernenls and key sources of estimation uncertainly in the preparation of th8 accounts a laid out below. Basls of preparation These accounts have been prepared for the year to 31st December 2021 with comparalivp informauon given In respect to the year to 31st De¢ember 2020. The accounts have been prepared under the historical cost convention with items recognised al cost or transaction value unless otherwise sialed in the rel&vanl accounting policlès below or the nolas of thgse accounts. The accounts have been pr8pared In accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charilies proparing their accounts in accordancè with the Financial Reporting Standard applicable iri the United Kingdom and Republic of Ireland (Charities SORP FRS 1021 second e(SiliDn issued in Octobar 2019, Iho Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Charitlos Act 2011. The charity conslilules a public benefit entity as defSned by FRS 102. The accounts are presgnlgd In sltsrling and are rounded lo Ihg nearest pound. Crltlcal accounting estlmatos and ar•a$ of ludgement The lull impact following the 8m8rgence of the global Cofonavirus pandemic is still unknown.11 is therefore not currently posslble lo evaluate all the potential impli¢atSons for the charity's activities, beneliciarl8s and the wider economy. Estimales usfjd in the accounts are subject lo a greal8r degroe of uneertainly and volatilily. As s$1 out in thes8 accounting policies under 'going ¢oncern' the directors have ¢onsidgFed the impact of the pandemic on the charity and ha¥'e concluded that although Iheie fflay be some negative CDnsequencgs. It is approtxialts lor the charity lo ¢onlinue lo prepare ils accounts on the going concern basis. Preparation of the accounts requires the Irusiees to makg significantjudgemenls and eslimales. The ilemg in the accounts whgrg these judgements and eslimales have been made include.. 6slimatfjn9 the liability for mulli-yeai grant commitmgnls. eslimaling the deemad market value of the Royal Albert Hall Dgbenluro. eslimaling future income and expenditure flows with a view lo assèssing golng concem.
THE INMAN CHARITY e17 PRINCIPAL ACCOUNTING POLICIES. 31ST DECEMBER 2021 Assessment of golng concern The directors have assessed whether the use ol the going concern assumption Is appropriate in preparing these accounts. The directors have made this assgssmenl In respect of a period of one year from the dale of approval of these accounts. The directors have concluded that there are no Tnalerial unceriaSntS05 related lo events or conditions Ihal may cast significant doubl on the abilily of tho charity lo continue as a going concern. The full impact following the recent emergence of the global coronavlrus pandernic is still unknown. 11 is therefore not curr¢ntly possible lo evaluate all Iho potential irnplications for the ¢harSly's aclivilies. baneliciarigs and the wider economy. Eslimales used in the accounts. particularly with respect lo the value of the Royal Albert Hall deb8nlure 58als are subject lo a greater degree of uncertainty and volalilily. As set out In the89 accounting policies under'going concern. the directors have considered the impact of the pandemic on the charity and have concluded that although there may be some negative consequancgs, It Ss appropriate for Ihe charity lo Continue lo preparg 115 accounts on the going ¢on¢&rn basis. The directors arg of the opinion that the charity will have sufficiant iesources to meg1 ils liabilitias as they fall due and ther0fore despite the global LJncert8inly in relation lo COVID-19, there are no concerns regarding the charills ability to Continue as a going concern. The most significant areas of judgement that aflect itèms in the account are detall$d above. With regard lo the next accounting riOd, the year ending 31 sl De¢$mber 2022, the most slgnificanl areas that alle¢t the carrying value ol tho assets held by the charily are the level of investment relurn and the performance ol the investment markets Iso9 tho investrnenl policy and the risk management sections of the direclors, report for more informalionl. Income recognltlon Incom6 is recognised in the period In which the charity has enlitl¢menl lo the income, the amount of income can be measured reliably and il is probabl8 that the income will be received. Income comprises donations. Invoslment incorne from investm6nl¥ and interest from daposits. Donallons are recognised when Ihe charity has conlirmatSon of both the amount and selllemenl date. In the event of donations pledged bul not received, the amount Ss accrued for where the receipt IS Considered probabl&. In the event that a donatlun Is subjecl to conditions that require a lovel of performance before the charity is enlilled to the funds, the income is deferred and not recognised until oithol those conditions ar& lully mel, or the fullilmènl of those conditions is wholly within the control ol Ihg Gharfty and il is probable that thos conditions will be fulfilled in the reporting period. Investment income is recognlsed once the Income has been declared and nolificalion has been received of the amount due.
THE INMA CHARITY Pa e18 PRINCIPAL ACCOUNTING POLICIES- 31ST DECEMBER 2021 Income ro¢ognltlon Icontlnuedl Interest on funds held on deposit is includ8d when receivable and the amount can be measured reliably by the charity,. IhSs Ss normally upon notllication of the inlgiest pald or payable by thè bank. Expenditure recognltlon Liabilitles are recognisfjd as expenditure as soon as there is a18gal or constructive obligation committing the charity lo make a payment lo a third party, il is probable Ihat a transfer ol economi¢ bgnolils will be required in settlement and the amount of the obligations can be moasured reliably. All expenditure is accounted for on an accruals basis. Expenditure comprises diieGI costs and support costs. All expenses, including support costs, ale allocated or apportioned to the applicable gxpendilure headings. The classification between the aclivi11gs 15 as follows.. la} Expenditure on raising funds includes all exp8ndlture associated with raising funds for tho charity. This includes the fees paid to the investment manager in connection with the management of the charitls1Ssl&d inveslmenl$. Ibl Expenditure on charitable activili&s includes all $ts associated with furthgring the charitable purposes ol tho charity through thè provision of its charitsble aclivilies. Such costs include charitsble grants payable in promoting and enhancing charitable work carried out by other charitabl6 organisalions, and related support costs includlng the cost of admini81erinq the aclivi118s of the charity and 0vernanCe costs. Grants payable are included Sn the slalement of financial activities whèn approved and when the intended recipient has either received th8 funds or been informed of the decision lo mak8 the donation and ha5 satisfied all r&lal8d conditions. Grants approved bul not paid al the end of the financlal year are accrued for. Grants wher8 the beneficiary has not been informed or has to meet certain condllions before the grant is released are not accrued lor bul are noted as linancial commitments in the not8s lo the accounts. All expendllure is staled incluslve of irrgcoverable VAT. Allocatlon of support and governance ¢osts Support costs represent indirect charitsble expenditure. In ord81 lo carry out th& primary purposes of tho charity it is n6¢èssary lo provide support in the form of adminislralion services. Governance costs comprise the costs involving the publlc accountability of tho Charity lincluding audit c08181 and costs Sn respect of its Compliance with regulation and good practice. Support costs and g0vemane costs are apportioned dlr8ctly lo the ong charitable aclivily.
THE INMAN CHARITY Pa PRINCIPAL ACCOUNTING POLICIES- 31ST DECEMBER 2021 Flxed assot investments Listed Investm•nt5 Listed inv8stmenls are a form ol b8sic financial instrument and are initially rècognised at their transaction value and subsoquenlly measured Bt their fair value as at the balance sheet dat0 using the closing quoted market price. Th8 chartly does not acquire pul options. derivatives or other complex flnancial instruments. As noted above the maln form of financial risk faced by the charlly is that a volatility in fjquily markets and invgslmonl markets due to wder economic conditions. the altitude of investors lo investment rlsk, and changes in sfjnlirnenl concerning gquilies and within particular sectors or sub soclors. Royal Albert Hall Debonture Two debenture seats were donated to th8 chailly in the year ended 31st December 2017. The debentures were initially r8cognised at deemed market value. The directors used thg average sale price of debenture seats in a one year poriod lo provide an estimate of the deemed market value of the debentures. The directors, policy is lo ievalue the debenlur8s every three ygais. Gains and losses R8allsed gains (or losses) on inveslrnent assets are calculated as the dlfference between disposal proceeds and their opening carrying value or their pur¢ha8e value is acquired subsequent to the first day of the financial year. Unrealisad gains and losses aro Calculated as the diffgrence between the fair value al the year end and their carrying value al that dale. Realisgd and unrealised Investment gains lor10ssgs1 are credited lor debiledl in the stalernenl of financial activities in the ygar In which they arise. Debtors Debtors are rgcognised at their sottlemenl amount, lèss any provision for non-rgcovgiability. They have beèn discounted to the present valug of the lulure cash r¢ceSpl where such discounting is material. Cash In bank and In hand Cash at bank and in hand represents such a¢¢ounts and instrumenls that are avaijablo on demand or have a maturity of less than thrga months from the dale ol acquisition.
THE INMAN CH RITY PRINCIPAL ACCOUNTING POLICIES- 31ST DECEMBER 2021 Creditors and provl$lons Crgdilors and provisions are r$cognised when there Is an obligation al the balanc9 sheet dale as a result of a past event, il is probabl8 that a transfer of economic benefit will be required in selllem8nt, and the amount of the selllemenl can be estsmatfjd reliably. Creditors and provisions are recognised al the amount the charity anticipates il will pay to settle Ihe debt. They havg been discounted lo the present value of the future cash payment where such discounllng Is matefial. Fund ac¢ountlng The endowmant fund comprises monles which musl be held indafinitely as capital although certain adminislralive expenses may be mel by the fund. In¢ome Iherefiom is credited to the unreslricled fund and applied foi general purpos8S. The unrestricted fund represents funds available for the general chai'itable purposes ol the charily which may be applied at the dS8crelion ol the directors. Cash flow The accounts do not include a cash flow statement because th8 charity Is exempl from the requir6menl lo prepare such a sialemenl under the Charities SORP IFRS 1021 Update Bulletin 1.
THE INNfjAN CHARITY Pa 921 OTES TO THE ACCOUNTS- 31ST DECEMBER 2021 1 INVESTMENT INCOME Unrestrlct•d Fund 2020 Unreslrlcted Fund 2021 57,092 UK equlllgs and collectives Property collectives The Charity Property Fund Unlts MayfaSr Capital Investment Management Ltd. Property Income Trust for Charities 75,300 15,894 17,484 17.264 18,458 35,942 17,033 29,689 1,985 13.305 UK Govemmenl and Ilxgd Interest securities 20.442 Overseas equities and collèctlves 2.952 Oveiseas fixed interest 126.949 159.949 2 PROMOTING AND ENHANCING CHARITABLE WORK 2021 Total Fund$ Unrostrlcted Endowmont Fund Fund Grants payable lo inslilulions Grant adminlslrallon costs Governance costs (note 31 230,000 9,638 1,572 230.000 39.997 3,144 30,359 1,572 2021 Total funds 241,210 31,931 273,141 2020 Total Funds Unrestrl¢ted Endowment Fund und Grants payabl& to Insliluliivjs Grant adminislralion ¢osts Govemance Gosts (not8 4) 50,000 9,331 1.524 50,000 37.756 3,048 28,425 1.524 2020 Total ftinds 60,855 29,949 90,804 A dotalled list of tha grants payable to Institutions is glven In the appendix to thgse accounts.
THE INMAN CHARITY Pa e22 NOTES TO THE ACCOUNTS- 31ST DEGEM8ER 2021 2 PROMOTING AND ENHANCING CHARITABLE WORK (Contlnuedl A reconclllallon of the grants payable and grant ¢ommilmenls figures shown In these accounts Is as follows.. Unrestrlctod Fund 2020 Unrestrlcted Fund 2021 31,000 Grant commltment5 al 1st January 2021 55,000 Grants agreed durlng the year 15,0001 Less refund donation no longer rgqulrtsd 24.000 230,000 230.000 81,000 Grants payable 157.0001 Grants pald durlng th8 year 254.000 1222,0001 24,000 Grant commllrnenls al 31st Dè¢8mb&r 2021 32.000 3 GOVERNANCE COSTS 2021 Total Funds Unrestrlcted Endowment Funds Fund Stalutory audit fee 1,572 1,572 3,144 2020 Total Funds Unrestrlcted Endowment Funds Fund Statutory audit f8e 1.524 1,524 3.048 4 STAFF COSTS. DIRECTORS. REMUNERATION, AND OTHER RELATED PARTY TRANSACTIONS The Charily èmployed no staff durlng the wr12020- None). No dlre¢lor of the corporat8 trustee received any remuneration in respect ol th&lr services during th& year12020 £nill. No directors were relmbLJrsed for expendilura Sn¢urred in the performance of thèir duties during th¢ year12020- £nil for four direclorsl.
THE INMAN CHARITY e23 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2021 4 STAFF COSTS. DIRECTORS. REMUNERATION, AND OTHER RELATED PARTY TRANSACTIONS (Continued) The key managem&nl personnel of the ¢harily in charge of dlre¢lSng and controlling. the charlty Comprise the directors ol the corporate trusteo. The total rgmungration lincludSng taxable benefits bul ex¢luding employer's penslon conlribulions} of the key managèment personnel for th8 year was £nil12020 - £nlll. Payne Hicks Beach conducted the day lo day admlnlslralion of the charlty durlng the year. The lolal fees charged for the year18xcluding VAT and disbursfjmenlsl were £33.00012020- £31,000), all of which remained oulslanding al the year end12020 £9,250). There w8r8 no other related party transacllons during the y&ar of report12020- Nonel. S TAXATION Th& InThan Charity is a registered charity and. thèrefore, Is not liable lo Income tax or corpL)ralion tax on Incomg or galns derived from its charitable activities as they fall within the exemptions available to registered charities. 6 INVESTMENTS 2020 2021 LISTED INVESTMENTS Movèmènts in listed investments duilng the year were as follows.. 5,550,551 Markot Value al 1st January 2021 2.751,104 Addllions al cost 12.846.106) Dlsposals al book valu& Iproc&eds'. £2,129,268.. realised g8lns £212,573) 207,274 Nel unreallsed galns in year 5,662.823 2,038.053 11,916,695) 513,905 5,662,823 Market valua al 3181 Decembei 2021 6,298,086 4,397.329 Cost al 3181 December 2021 5.225.617
THE INMAN CHARITY e24 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2021 INVESTMENTS Icontlnuedl All investménts were dealt in on a re¢ognl8ed stock exchange.. 2020 2021 Llsted Investments held al 3181 December 2021 comprSse the followng.. Invèslmenls listed on a UK 81ock exchange UK aqullies UK Government and Ilxed interest securities Propgrty collectives 1,747,352 769,121 827,126 1.756,343 633,351 1,160,347 3.343,599 3,550.041 Overseas Investments Overseas 8quilies and collectives Fixed interost 2,174,083 145,141 2.676,487 71.558 2,748,045 5,662,823 6,298,086 Al 31st Decembgr 2021 the follong Indlvldual holdings had a materlal maikel value in th8 conlgxl of the enti¥e portlollo.. %of Portfollo Value The Charities Property Fund Units 459,520 Mayfali C&plt81 Investment Managoment Ltd. Property Income Trust for Charflies 428,589 7 DEBTORS 2020 2021 Dividends awaStlng rocelpl 1.007 A¢¢rued income Tax repayable 144 998 3.087 1,007 4.229
THE INMAN CHARITY Pa e25 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2021 8 CASH AT BANK AND IN HAND 2020 2021 224,823 CAF Bank 79,032 Quilter ChevS01 1,943 Payne Hicks Beach 259.232 35.840 1.264 305,798 296,336 9 CREDITORS,. AMOUNTS FALLING DUE WITHIN ONE YEAR 7.020 2021 11,286 Grant admSnlslralion costs Slalulory audlt foos For the year trnded 31 Dember 2020 For the year ended 31 December 2021 39,868 3,048 3,048 3,144 6.192 6.586 6,136 Investment managels fees Grants Inman Charity Und6rgraduale Dental Research Award lal King's College London) Inman Charity Medical Research Fund lat Klng's College London) Payment recelved in error by CAF Bank Account 6.000 6,000 7,000 118 26,470 65.764 10 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 2020 2021 Inman Charity Undergraduate Dental Research Award lat Klng's College London) Inman Charity Mgdical Research Fund lal King's College London) 18,000 12,000 7,000 18,000 19,000
THE INMAN CHARITY e26 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2021 11 ENDOWMENT FUND At 1 January 2021 Investment enditure Gainsl Ioss8S At 31 December 2021 Incoma 4.635,459 152,6631 540,405 5,123,201 At l January 2020 Investment Ex Income dIlure Gains/ losses At 31 December 2020 4,549,928 f49. 189) 134, 720 4.635.459 The endowment fund represents the disposal proceeds of a propgrty which was reIVed by the Charity on th8 dèath of the Settlor. The directors have the Power lo Me8t adtninislralive expenses from the endowmenl and the income may be applied towards the 98ngral objects of the charily. 12 UNRESTRICTED FUND At 1 January 2021 Investment gndlture Gainsl losses At 31 Dè¢embtrr 2021 Income Ex 1,569,699 163,065 1248,1511 186.073 1.670,686 At l January 2020 Investment ndlture Gains/ losses At 31 De¢ember 2020 Income Ex 1,412.024 128,942 (65,401) 94,134 1.569.699 Tho unrgslricled fund includes monies sel aside by the directors for the purpose of providing a continulng source of income lo the charity, thereby safeguarding its future. 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Funds balance$ at 31st December 2021 are represented by.. Unrestrlcted Endowment Fund Fund Total Funds Listed invtsslments Royal Albèrt H811 Debenture Current assats Creditors= amounts falling due within one year amount falling due after one year 1,093,816 280,000 342,894 127.0241 119,0001 5.204,270 6,298,086 280,000 300,565 (65.7641 119.0001 142.3291 138,7401 1,670,686 5,123.201 6,793.887
E INMAN CHARITY e27 NOTES TO THE ACCOUNTS- 31ST DECEMBER 2021 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS (Continued) Unrestricted Endowment Fund Fund Total Funds Unraalised gains on listed investments 199.739 872.730 1,072.469 Reconciliation of movements in unrealised gains on investment assets Unrealisgd gains al 1st January 2021 Adjusted in respo¢t of disposals in year 295,984 1210,273} 969,511 1496.658) 1,265.495 1706.9311 85,711 472,853 558,564 Less.. Nel gains arising on inveslrnenl revaluation in year 114,028 399,877 513,905 Unrealised gains al 31st December 2021 199.739 872,730 1,072,469 Funds balanGgs at 31st D$cember 2020 are represenled by.. Unrestricted Endowment Fund Fund Total Funds Lisled invBslments RoyalAlb8rt Hall D8b8nlure Current assels Cr8dilor8.- amounts falling due within one year amount falling due after one year 989, 124 280,000 330, 733 fll,558) (18,000) 4.673,699 5.662.823 280,000 306,805 (26,470J (f 8,OOOJ (23,328) (14,912) 1,569,699 4.635.459 6.205.158 Unr881i$8d gains on listed investments 295,984 969,511 1.265,495 Re¢onGili&lion of movements in unroalisfyd geins on invgslmenl assets Unrealised gains al Isl J&nuary 2020 Adjusted in respect of disposals In y&ar 647,480 f408,046) 1.484.894 (666, IOT) 2. 132.374 (1.OT4, 153J 239,434 818, T8T 1.058.221 Less.. Net galns arising on investment revaluation in ye8r 56.550 150, 124 207,274 Unr881i8ed gaAns al 31sl December 2020 295,984 969.511 1.265.495
THE INMAN CHARITY Pa e28 APPENDIX TO THE ACCOUNT 1ST DECEMBER 2021 GRANTS AGREED DURING THE YEAR.. ount Btsrsary Fund Victor Inman Bursary Fund at Uppingham School Medical. Research Bowel Cancer UK Macular Society St Maik's Foundation National Eye Re588rch Centre All of us Versus Arthritis Pr()5t8te Cancer Research Centrg Muscular Dystrophy UK Kings College London- Inman Charfty Medical Research Fund 2021 2022 2023 25,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 7,000 7.0(X) 7,000 21,000 10,000 Roy Castle Lung Cancer Foundation Soclal- Hospices Hospice UK Woking & Sam Bear8 Hospice and Wellbeing Care North LoTFdon Hospice Gr831 Oaks- Doan Forest H08pice The Norfolk Hospic8- Tapping House FlOnCe Nightingale Hospice Charity S¢¢ial- Older People FISH Neighbourhood Voluntary Care Schetne Dern8ntia Support- Chlchester Wesl Sussex Woslwood - Sheffield So¢lal. Deaf and 81ind Deal Blind UK BID S$rvices- Deaf Eldèrs SetWC8S Wallhew House Oxfordshir8 Association for the Blind Listening Books Soclal- Dlsabl8d and Welfare Samaritan5 Queen Elizabeth's Foundation for Disabled People Bi8hop Creighton Hou88 The AHOY Centre Carer5 N81work Changin9 Faces Hol Line Meals Servi MaY1e Respitè Centre General and Armèd Foregs Royal 8ritish LegSon Combat Stress Royal Albert Hall The Royal Marsden Cancer Charity 10,000 3,000 5.000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 4,000 5,000 5,000 5.000 5.000 5.000 5.000 5,000 s.000 5.000 5.000 5.000 5,000 5,000 5,000 5.000 230.000 Total grants and donations paid to Inslitutions during 2020 amounted lo £ILQQQ.