2021-03-31-accounts - The Saddlers' Company Charitable Fund

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		Page
Ttustee report		2-8
Independent auditors'	report	9-10
Statement offinancial	activities
Balance sheet		12
Notes to the financial	statements	13-24

				2021	2021	2021	2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				funds	funds	funds	funds	funds
			Note			g
Income and endowments		from:
Voluntary income			2	85,100	8,144		93444	10,610
investment income			3	264,958	31,462		296,420	326,024
Total income				350,058	39,606		389,664	336,634
Expenditure on:
Investment management	costs		4			63,416	63,416	59,855
Charitable activities			5	339,906	43,268	—	383,174	392,751
Total expenditure				339,906	43,268	63,416	446,590	452,606
Net (expenditure)/income
before investment gains and		losses		10,152	(3,662)	(63,416)	(56,926)	(115,972)
Realised gain on investment		property
Net realised and unrealised		gains/(losses)
on investments						3,171,826	3,171,826	(1,523,947)
Total other recognised	gains	and losses				3,171,826	3,171,826	(1,523,947)
Net income/(expenditure)				10,152	(3,662)	3,108,410	3,114,900	(1,639,919)
Transfers between funds				(5,001)		5,001
Net movement in funds				5,151	(3,662)	3,113,411	3,114,900	(1,639,919)
Total funds brought forward		at 1 April		14,248	7,487	10,967,347	10,989,082	12,629,001
Total funds carried fonvard		at 31March		19,399	3,825	14,080,758	14,103,982	10,989,082

					2021	2021	2020	2020
				Note			f.
Fixed assets
Tangible fixed assets						16,413		6,402
Investment	portfolios		at market value			13,961,910		10,929,396
						13,978,323		10,935,798
Current assets
Debtors					77,907		53,990
Cash on deposit					2,497		2,494
Cash at bank					89,927		114,457
					170,331		170,941
Creditors;	Amounts		falling due
	within	one year			(44,672)		(117,657)
Net current	assets					125,659		53,284
Total net assets				15		14,103,982		10,989,082
Represented	by:
Funds and	reserves
Permanent endowment			funds	10	1,486,677		1,156,138
Expendable	endowment		funds	Il	12,594,081		9,811,209
						14,080,758		10,967,347
Restricted funds				12	3,825		7,487
Unrestricted	funds
Designated	funds			13	19,399		14,248
General funds				14
						23,224		21,735
Total funds				15		14,103,982		10,989,082

						2021	2021	2021	2021
						Unrestricted	Restricted	Endowment	Total
						funds f	funds	funds f	fundsf
Voluntary		income	- 2021
Legacy received						25,000			25,000
Donations	fiom members,			The
Worshipful		Company ofSaddlers			and others	60,000			68,144
Donations	fi'om Talk and Tours of
Saddlers'		Hall				100			100
						85,100	8,144		93,224
						2020	2020	2020	2020
						Uarestricted	Restricted	Endowmeot	Total
						funds	funds	funds	funds
Voluntary		income	- 2020
Legacy received
Donations	fiom members ofthe
Worshipful		Company ofSaddlers			and others	500	8,650		9,150
Donations	from Talk and Tours of
Saddlers'	Hall					1,460			1,460
						1,960	8,650		10,610
						2021	2021	2021	2021
						Unrestricted	Restricted Endowment		Total
						funds	funds	fundsf	fundsf
Investment		income	—2021
Dividends	and distributions			I'rom
investment		portfolio				264,919	31,456		296,375
Interest on	cash on deposit			and at bank		39	6		45
Rent receivable
						264,958	31,462		296,420

							2020	2020	2020	2020
							Unrestricted	Restricted Endosvment		Total
							funds	funds	funds	funds
								f.	g
3.	Investment	income		(continued) —2020
	Dividends	and distributions				from
	investment	portfolio					291,637	34,245		325,882
	Interest on	cash	on deposit			and at bank	119	23		142
	Rent receivable
							291,756	34,268		326,024
							2021	2021	2021	2021
							Unrestricted	Restricted Endovvment		Total
							funds	funds	funds	funds
								f
	Investment	management				costs - 2021
	Investment	Managers		fees					63,416	63,416
							2020	2020	2020	2020
							Unrestricted	Restricted	Kndovvment	Total
							funds	funds	fuads	funds
							g			g
	Investment	management				costs - 2020
	Investment	Managers		fees					59,855	59,855
							2021	2021	2021	2021
							Unrestricted	Restricted	Kndovvment	Total
							funds	funds	funds	funds
								g
	Charitable	activities		- 2021
	Grants payable						285,706	37,144		322,850
	Supportcosts:
	Statfcosts						43,996	5,355		49,351
	ITexpenses						35			35
	Bank charges						78	69		147
	Long leasehold property Legal and professional Audit fee				expenditure fees		4,870 5,221	700		4,870 5,921
							339,906	43,268		383,174

				2020	2020	2020	2020
				Unrestricted	Restricted	Endowment	Total
				funds	funds e	funds	fundsf
Charitable	activities (continued) —2020
Grants payable				292,991	41,976		334,967
Support costs:
Staffcosts				46,170	5,620		51,790
Travelling	expenses			282			282
Bank charges				60	60		120
Long leasehold		property	expenditure
Legal fees				376			376
Audit fee				4,569			5,216
				344,448	48,303		392,751

				2021	2020
				Total	Total
				funds	fundsf
Fixed assets —investment		portfolio
Market value at I April 2020				10,929,396	12,575,753
Add: Purchases at cost				3,730,781	4,247,641
Less: Equalisation receipts				(2,177)	(1,299)
Less: Sale	Proceeds			(4,106,023)	(4,538,737)
Less; Net	realised gains			133,486	67,456
Less; Net	unrealised gains/(	losses)		3,038,340	(1,591,402)
Movement	in cash held as part ofportfolio			238,107	169,984
Market value at 31March 2021				13,961,910	10,929,396
Cost at 31	March 2021			12,054,425	12,066,681
Debtors				2021f	2020
Sundry debtors and prepayments				77,907	53,990
				2021	2020
Creditors:	Amounts faIling	due within	one year	f	f.
Grants and	donations commitments
Creditors and accruals				44,672	117,657
				44,672	117,657

					2020	2021	2021
						Movement
					Total	in Year	Totalf
Permanent	endowment	funds	-	2021	1,156,138	330,539	1,486,677
					2019	2020	2020
						Movement
					Total	in Year	Total
Permanent	endowment	funds	-	2020	1,322,572	(166,434)	1,156,138

Expenda	ble	endowment	funds - 2021
				2020	2021	2021	2021	2021
					Income	Movemeats Transfer
						in the
						year
General	fund			8,801,437		2,488,659	5,214	11,295,310
RM Sturdy fund				713,292		204,173	—	917,465
ME Priestley		fund		219,887		63,111	(213)	282,785
Diamond	Jubilee fund			76,593		21,928		98,521
Totals				9,811,209		2,777,871	5,001	12,594,081
Expendable		endowment	funds - Z020
				2019	2020	2020	2020	2020
					Income	Movements Transfer
						in the
					f	year	8
General	fund			10,122,755		(1,271,744)	(49,574)	8,801,437
RM Sturdy fund				816,098		(102,806)	—	713,292
ME Priestley		fund		252,215		(31,777)	(551)	219,887
Diamond	Jubilee fund			87,634		(11,041)		76,593
Totals				11,278,702	—(1,417,368)		(50,125)	9,811,209

Restricted		funds
Restricted		funds -	2021				2020	2021	2021	2021
							Total	Income	Expenditure	Total
							funds			fundsf
Saddlers' Company Members' Nominated The Kaye's & Labourne's Charity						Charity fund	7,487	8,144 31,462	(8,144) (35,124)	3,825
Totals							7,487	39,606	(43,268)	3,825
Restricted		funds -	2020				2019	2020	2020	2020
							Total	Income	Expenditure	Total
							funds			funds
							f.
Saddlers'	Company		Members'		Nominated	Charity fund		6,781	(6,781)
The Kaye's & Labourne's				Charity			12,872	36,138	(41,523)	7,487
Totals							12,872	42,919	(48,304)	7,487

Designated funds	- 2021		2020	2021	2021	2021	2021
			Total	Income	Expenditure	Transfer	Total
			funds				funds
Diamond Jubilee fund			10,516	2,087	(463)		12,140
RM Sturdy fund			3,732	19,430	(15,903)		7,259
ME Priestley fund Saddlers' Company	StaffNominated	Charity fund		6,006 100	(6,219) (100)	213
Totals			14,248	27,623	(22,685)	213	19,399
Designated funds -2020			2019	2020	2020	2020	2020
			Total	Income	Expenditure	Transfer	Total
			funds				funds
				f
Diamond Jubilee fund			8,730	2,272	(486)		10,516
RM Sturdy fund ME Priestley fund Saddlers' Company	StaffNominated	Charity fund	6,125	21,153 6,538 1,460	(23,546) (7,089) (1,460)	551	3,732
Totals			14,855	31,423	(32,581)	551	14,248

Sa dlers' Com	Sa dlers' Com	an	StaffNominated	StaffNominated	Chari
This fund was		set up by the		trustee on 17December		2013 to receive	donations		&om either	staff or talk-and-tours of
Saddlers' Hall		in the City ofLondon.			On an annual	basis, the amount	raised	is	donated to a	charity that is	nominated
by the staffofthe Saddlers'				Company.
Unrestricted	funds
Unrestricted	funds		- 2021			2020	2021		2021	2021	2021
						Total	Income	Expenditure		Transfers	Total
						funds f			f	f	funds f
General funds							322,435		(317,221)	(5,214)
Unrestricted	funds		-2020			2019	2020		2020	2020	2020
						Total	Income	Expenditure		Transfers	Total
						fumlsf				f	fundsf
General funds						262,293			(311,867)	49,574

Aualysis	ofnet	assets between	assets between	assets between	funds
Analysis	ofnet	assets between			funds	-	2021
						Permanent		Expendable				2021
						endowment		endowment	Restricted	DesignatedUnrestricted		Total
							funds	funds	fuads 8	funds 8	fund f	funds
Tangible asset											16,413	16,413
Investment portfolio							1,485,800	12,476,110				13,961,910
Debtors									5,959		67,531	77,907
Cash on deposit		and	at bank				877	117,971	7,284		(50,361)	92,424
Creditors									(9,418)		(33,583)	(44,672)
Totals							1,486,677	12,594,0SI	3,825	19,399		14,103,982
Analysis	ofnet	assets between			funds	—2020
						Permanent		Expendable				2020
						endowment		endowment	Restricted	DesignatedUnrestricted		Total
							fuadsf	fuads 8	funds	funds	fund f	funds 8
Tangible asset											6,402	6,402
Investment	portfolio						1,154,808	9,774,588				10,929,396
Debtors									4,974	3,158	45,858	53,990
Cash on deposit		and	at bank				1,330	36,621	16,734	13,314	48,952	116,951
Creditors									(14,221)	(2,224)	(101,212)	(117,657)
Totals							1,156,138	9,811409	7487	14248		10,989,082
Analysis	ofnet	assets behveen			charities
Analysis	ofnet	assets betsveen			charities		- 2021
Saddlers'	Com	an	Charitable		Fund
						Permanent		Expendable				2021
						endowment		endovvment	Restricted	Designated	Unrestricted	Total
							funds	funds	funds	funds	fund	funds
								f	8	f	8
Tangible asset											16,413	16,413
Investment	portfolio							12,476,110				12,476,110
Debtors									762	4,417	67,531	72,710
Cash on deposit		and	at bank					117,971	6,162	16,652	(50,360)	90,425
Creditors									(6,924)	(1,670)	(33,584)	(42,178)
Totals								12494,081		19,399		12,613,480
The Ka e's k. Labourne's				Chari
						Permmtent		Expendable				2021
						endowment		endowment	Restricted	Desiguated	Unrestrtcted	Total
							funds	funds	funds	funds	fund	funds
									f
Investment	portfolio						1,485,800					1,485,800
Debtors									5,197			5,197
Cash on deposit		and	at bank				877		1,123			2,000
Creditors									(2,495)			(2,495)
Totals							1,486,677		3,825			1,490,502

Saddlers'	Com an Char	itable Fun	d
			Permanent	Expendable				2020
			endowment	endowment	Restricted	Designated	Unrestricted	Total
			funds	funds	funds	funds	fund	funds
					f.		f	f
Tangible asset							6,402	6,402
Investment	portfolio			9,774,588				9,774,588
Debtors					620	3,158	45,858	49,636
Cash on deposit and at bank				36,621	5,020	13,314	48,952	103,907
Creditors					(5,640)	(2,224)	(101,212)	(109,076)
Totals				9,811,209		14,248		9,825,457
The Ka e's	&Labourne's	Chari
			Permanent	Expendable				2020
			endowment	endowment	Restricted	Designated	Unrestricted	Total
			funds f	funds	funds	funds f	fund	fundsf
Investment	portfolio		1,154,808					1,154,808
Debtors					4,354			4,354
Cash on deposit and at bank			1,330		11,714			13,044
Creditors					(8,581)			(8,581)
Totals			1,156,138		7,487			1,163,625