| Page | ||
|---|---|---|
| TRUSTEES' ANNUAL REPORT |
1-9 | |
| AUDITORS' REPORT |
10-11 | |
| STATEMENT OF FINANCIAL | ACTIVITIES | 12 |
| BALANCE SHEET | 13 | |
| CASHFLOW STATEMENT | 14 | |
| NOTES TO THE FINANCIAL | STATEMENTS | 15-22 |
| Reference | Reference | and Administration | and Administration | Details ofthe Charity, its Trustees and Advisors | Details ofthe Charity, its Trustees and Advisors |
|---|---|---|---|---|---|
| Settlor | Frank Bruce Baily Thomas | - died 7January 1997 | |||
| Date ofSettlement | Deed | 2 October 1970 | |||
| Trustees | Mrs Suzanne Jane Marriott, BA (Hons), Dip Law, TEP, Notary Public |
||||
| - Chair ofTrustees | |||||
| Emeritus Professor Anne | Ekzabeth Farmer, MD, FrcPsych | ||||
| Kenneth Robert Young, FCA |
|||||
| Emeritus Professor Sagy-Ann Cooper OBE, Bsc,MBBS,MD, FRCPsych | |||||
| Jonathan Philip Snow, BSc(Hone), ASIP |
|||||
| Pnncipal | Address | c/o TMF Global Services (UK) Ltd | |||
| 13w Floor | |||||
| One Angel Court | |||||
| London | |||||
| EC2R 7HJ | |||||
| Registered | Charity | Number | 262334 | ||
| Secretary | to the Trustees | Ann Cooper, TMF Global | Services (UK) Ltd | ||
| Solicitors | Charles Russell Speechlys |
LLP | |||
| 6 Fleet Place | |||||
| London | |||||
| EC4M 7RD | |||||
| Administrators and |
Accountants | TMF Global Services (UK) | Ltd | ||
| 13'"Floor | |||||
| One Angel Court | |||||
| London | |||||
| EC2R 7HJ | |||||
| Auditors | FKCA Limited | ||||
| 260-270 Butterfield | |||||
| Great Marlings | |||||
| Luton | |||||
| LU2 BDL | |||||
| Bankers | CAF Charity Money Management | ||||
| Kings Hill | |||||
| West Magmg | |||||
| Kent | |||||
| ME19 4TA |
| Reference | and Atlministratlon | and Atlministratlon | Details ofthe Charity, Its Trustees and | Details ofthe Charity, Its Trustees and | Advisors | Advisors | Advisors | Advisors | - | continued | continued | continued | continued | continued | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment | Managers | Artemis Asset Management | Limited | |||||||||||||||||||||||
| 42 Melville Street | ||||||||||||||||||||||||||
| Edinburgh | ||||||||||||||||||||||||||
| EH3 7HA | ||||||||||||||||||||||||||
| Baillie Gifford | ||||||||||||||||||||||||||
| Calton Square | ||||||||||||||||||||||||||
| 1Greenside Row |
||||||||||||||||||||||||||
| Edinburgh | ||||||||||||||||||||||||||
| EH1 3AN | ||||||||||||||||||||||||||
| Pictet Asset Management | ||||||||||||||||||||||||||
| PO Box12269 | ||||||||||||||||||||||||||
| Chelmsford | ||||||||||||||||||||||||||
| CM99 2 EH | ||||||||||||||||||||||||||
| GuardCap | ||||||||||||||||||||||||||
| George's Quay House | ||||||||||||||||||||||||||
| 43Townsend Street |
||||||||||||||||||||||||||
| Dublin 2 |
||||||||||||||||||||||||||
| Ireland | ||||||||||||||||||||||||||
| Royal London Asset | Management | |||||||||||||||||||||||||
| PO Box9035 | ||||||||||||||||||||||||||
| Chelmsford | ||||||||||||||||||||||||||
| CM99 2XB | ||||||||||||||||||||||||||
| Investment | Consultants | Stanhope Consulting |
||||||||||||||||||||||||
| 36 Portman Square |
||||||||||||||||||||||||||
| London | ||||||||||||||||||||||||||
| W1H 6LR | ||||||||||||||||||||||||||
| Structure, | Governance | and | Management | The Charity is an unincorporated |
trust | constituted | under | a | trust deed dated | 2 | ||||||||||||||||
| October 1970 and |
is a | registered | chanty, | number | 262334. | The deed settled | ||||||||||||||||||||
| the Trust Fund as to | capital | and | income on | a | discretionary | trust for | apphcation | |||||||||||||||||||
| to charitable purposes |
or | to | charitable | institutions | connected | with | the | |||||||||||||||||||
| prevention, treatment |
or | relief | of | mental | or | other | forms | o( | illness. | There was | ||||||||||||||||
| a twenty-one year power |
to | accumulate | income | to | 2 October | 1991.The Charity | ||||||||||||||||||||
| does not actively fundraise | and | seeks to meet | its charitable | objectives through | ||||||||||||||||||||||
| the careful stewardship | ofits existing | resources. | ||||||||||||||||||||||||
| The Trustees have wide | powers | of mvestment | as though | beneficially | entitled. | |||||||||||||||||||||
| A Charity Commission |
order | was | endorsed | on | 7 August | 2003 | giving | the | ||||||||||||||||||
| necessary authority |
to | the | provision | of indemnity | insurance | for | the Charity | |||||||||||||||||||
| Trustees out ofthe | funds of | the | Charity. |
| Grant Making Policy, Achievements | Grant Making Policy, Achievements | Major donations made dunng the year |
Major donations made dunng the year |
included: | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| and Performance | -continued | ||||||||||
| General Grants | |||||||||||
| Compass Advocacy Network Ltd |
550,000 | ||||||||||
| Towards Phase 2 development of |
Lislagan Farm: |
a contribution towards the |
|||||||||
| refurbishment cost of an original stone |
cottage. | ||||||||||
| Friends ofCastlebar School | 638,000 | ||||||||||
| Towards the Castlebar School Holiday Scheme: |
to fund | one | years' | costs of | |||||||
| providing the holiday clubs for Summer |
and Easter | ||||||||||
| St Rose's Special School | E35,000 | ||||||||||
| Towards St Martin's Connect: the |
renovation of |
stand-atone | bungalows into a |
||||||||
| combined bungalow complex. |
|||||||||||
| The Bridge Project | 535,000 | ||||||||||
| Towards the Triangle New Build |
development: | capital | expenditure for |
||||||||
| construction ofthe buildmg. |
|||||||||||
| Ability Shetland | E25,000 | ||||||||||
| Towards Holiday Provision: service |
delivery costs. | ||||||||||
| Charlie House (Legal name: Grampian | Chgdren's | Respite Care) | 825,000 | ||||||||
| Towards Charlie House Specialist Support Centre: |
construction | costs | |||||||||
| Purple Patch Arts | E25,000 | ||||||||||
| Towards Lifelong Learning Programmes |
«ore programme | delivery costs | |||||||||
| Research Grants | |||||||||||
| University of Glasgow | 5110,000 | ||||||||||
| For 22 months 'A feasibility cluster |
randomised controlled |
trial | of the | Go2Play | |||||||
| active play intervention for children |
with intellectual | disabilities'. | |||||||||
| Queen Mary University of London |
E103,229 | ||||||||||
| For 18months 'Sleep and circadian |
interactions with sensory |
sensitivity | in adults | ||||||||
| with intellectual disabilities' |
|||||||||||
| Queen's University Belfast |
E97,600 | ||||||||||
| For 24 months 'Randomised controlled |
feasibility | study and | exploratory tnal of |
||||||||
| the Carers-ID intervention: Supporting |
family carers' | mental | health following the | ||||||||
| CDVID-19 pandemic'. | |||||||||||
| Ulster University | E82,732 | ||||||||||
| For 18 months 'Improving hfe expectancy and quality of |
life | for children born |
|||||||||
| with Down syndrome, developing |
best practice |
guidelines | in response to |
||||||||
| changing patterns in diagnosis, treatment and survival'. |
|||||||||||
| University of Plymouth | E65,783 | ||||||||||
| For 14 months 'A novel way to understand and |
communicate | the burden of |
|||||||||
| Antipsychotic Prescnbmg for Adults |
across Speaalist |
Intellectual | Disability | ||||||||
| Services in England and Wales'. |
|||||||||||
| The Trustees are confident that together these |
grants | demonstrate | a high |
||||||||
| degree of public benefit in accordance with the |
guidance | published by the |
|||||||||
| Charity Commission. | |||||||||||
| Financial Review | end Reserves Policy | The grant-making programme is |
funded from |
mcome | generated | from its |
|||||
| investment portfoho, distributions |
received from | the Provident | Fund | and cash | |||||||
| drawnd own from investments. |
| Unrestricted | Fund | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Note | |||
| INCOME AND ENDOWMENTS from: | |||
| Investment income |
2a | 1,461,092 | 1,535,3E3 |
| Donations | )20,234 | 120,234 | |
| Other | 2b | 311,035 | 131,957 |
| Total income and endowments | 1,892,361 | 1,787,554 | |
| EXPENDITURE on: | |||
| Cost of raismg funds |
3 | 110,371 | 111,332 |
| Chantable actiwties |
4 | 2,893,337 | 2.574,376 |
| Total expenditure | 3,003,708 | 2,685,708 | |
| NET EXPENDITURE BEFORE GAINS AND | |||
| LOSSESON INVESTMENTS | ll,III,34 7) | (898,154) | |
| Net gains/(losses) on investments |
7 | 4,704,926 | (12,147.016I |
| Net gains/(losses) other |
22 063 | (3,119) | |
| NET MOVEMENT IN FUNDS |
3,615,642 | (13,048,289) | |
| TOTAL FUNDS BROUGHT FORWARD | 82,824,231 | 95,872,520 | |
| TOTAL FUNDS CARfllEO FORWARD | 86,439,873 | 82,824,231 |
| Unrestricted | Fund | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | ||||
| FIXEDASSETS | ||||
| Investment assets |
7 | 85,402,356 | 83,612,772 | |
| CURRENT ASSETS | ||||
| Debtors | 212,538 | 13,015 | ||
| Cash and cash equivalents | 2.779,053 | 1,140,277 | ||
| 2,991,591 | 1,153,292 | |||
| LIABILITIES".amounts | falling due within one year | (1,571,091) | (1,611,812) | |
| NET CURRENT ASSETS | 1,420,500 | (458,520) | ||
| TOTAL AS5ETS LESS | CURRENT LIABILITIES | 86,822,856 | 83,154,252 | |
| LIABILITIES:amounts | falling due after one year | 10 | (382,983) | (330,021) |
| NET ASSETS | 86,439,873 | 82,824,231 | ||
| Representing: | ||||
| RESERVES AND FUNDS | ||||
| Unrestncted fund |
86,439,873 | 82,824,231 | ||
| Approved by the Trustees |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Cash Rows from operating | activities: | |||||||
| Net cash used in operating | activities | 13 | (2,736,148) | (2,755,463) | ||||
| Cash flows from investing | activities: | |||||||
| Investment income |
1,461,092 | 1,535,363 | ||||||
| Proceeds from sale ofinvestments | 3,400,000 | 1,600,000 | ||||||
| Reinvestment of income and issue of |
addioonal | accumulation | shares | (486,168) | (481,043) | |||
| Net cash provided by investing activities |
4,374,924 | 2.654.320 | ||||||
| Change in cash and cash equivalents |
in the | year | 1,638,776 | (101,143) | ||||
| Cash and cash equivalents | at the beginning | ofthe year | 1,140,277 | 1,241,420 | ||||
| Cash and cash equivalents | at the end | ofthe year | 2,779,053 | 1,140,277 | ||||
| Represented by: |
||||||||
| Current asset investment | 2,445,355 | 508,893 | ||||||
| Cash at bank | 333,698 | 631,384 | ||||||
| 2,'779,053 | 1,140,277 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | E | |||
| Investment | managers | charges | 75,597 | 79,403 |
| Investment | consultancy | charges | 34,774 | 31,929 |
| 110,371 | 111,332 |
| Grants of E20,000and over | Grants of E20,000and over | commitments | Grants Awarded | Grants peN | Commitments | |||
|---|---|---|---|---|---|---|---|---|
| 8/F | In the Period | In the Period | 4'/F | |||||
| Cbaray Nome | 8 | E | 4 | E | ||||
| University of Glasgow |
287,844 | 110,0tkl | 257,712 | \40,132 | ||||
| Queen Mary University | of London | 103,229 | 103.229 | |||||
| king's College London | 64,112 | 97,902 | 36,830 | 125,184 | ||||
| Queen's University Belfast |
97,600 | 33,158 | ||||||
| Universrty of Birmingham |
185,651 | 91,902 | 97,404 | 180.149 | ||||
| Ulster Univers ty |
22,568 | 82,732 | 22,568 | 82,732 | ||||
| Rix-Thompson-Rothenberg | Foundation | 35,000 | 70,00D | 70,000 | 35,000 | |||
| Unwersity of Plymouth |
85,978 | 65,783 | 60,976 | 90,785 | ||||
| Compass Advocacy Network | Ltd | 50,000 | ||||||
| Friends oi Castlebar School | 38,000 | 20,000 | 18,000 | |||||
| St Rose's Special School | 35,000 | 35,000 | ||||||
| The Bridge Project | 35,COD | 2D,DDD | 15,000 | |||||
| Purple Patch 4 ts | 25,000 | 25,000 | ||||||
| Charlie House (Legal name | Grampian | Children' | 25,000 | 25,000 | ||||
| Ability Shetland | 25,000 | 20,000 | 5,000 | |||||
| Catcote Futures | 20,000 | 2D,DDD | ||||||
| Ren Uk | 20,000 | 20,000 | ||||||
| Rainbow ovine SW | 20,000 | 20,000 | ||||||
| Bromley Msricap | 20,DDD | 20,000 | ||||||
| Swings 8 Smiles | 20,000 | 10,0DD | ||||||
| Friends Action North East | 20,00D | 20,000 | ||||||
| Acorn Villages | 20,000 | 20,000 | ||||||
| The Garwood Foundatmn | 20,000 | 20,000 | ||||||
| Garva Id Edinburgh | 20,000 | 20,000 | ||||||
| Bedfordshire Opportunities |
for Learning | Disabil | 20,000 | 20,000 | ||||
| GRANTS 4I120000and | over | 6S1,151 | 1,152,148 | 834,930 | 998,369 | |||
| ALL0THEIG | 1,228,236 | 1,494,D66 | 1,756,020 | 966,282 | ||||
| TOTAL GRANTS | 1,909,387 | 2,646,214 | 2,590,950 | 1,964,651 | ||||
| Grants refunded | (21,132) | (21,132( | ||||||
| Grants withdravm | (50,000( | (50,Dill | ||||||
| 2,%73,387 | 2,575,082 | 2,569,818 | 1,914,651 | |||||
| Falling due in one year | 1,531,668 | |||||||
| Falling due after more | than | one year | 382,983 | |||||
| 1,914,651 |
| GRANTS BYCATEGORY | 2023 | 2023 | 2022 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|
| E | E | |||||||
| Ris-Thompson-Rothenberg | Foundation | - grant making | 70,00D | 70,000 | ||||
| Research projects | 689,534 | 935,468 | ||||||
| Major capital buildmg/refurbishment Other capital building/refurbishment |
costs costs |
340,983 51,033 |
153,750 44,300 |
|||||
| Major running costs/revenue |
costs | 663,238 | 600,302 | |||||
| Other running costs/revenue |
costs | 448,/98 | 211,469 | |||||
| Equipment costs |
38,535 | 12,000 | ||||||
| Capital building/refurbishment | costs | 26,000 | 66,500 | |||||
| Running costs/revenue |
costs | 283,947 | 337,972 | |||||
| Equipment costs |
34,056 | 34,093 | ||||||
| 2,646,214 | 2,465,854 | |||||||
| GRANTS BY VALUE | ||||||||
| 2023 | 2022 | |||||||
| Value | Total value | No. ofgrants | Total value | No. ofgrants | ||||
| E | E | |||||||
| E100 - E5,000 | 404,732 | 117 | 464,154 | 152 | ||||
| E5,001 - E10,000 E10,001 - E15,DDD |
641,316 397,822 |
68 28 |
213,535 429,234 |
23 31 |
||||
| E15,001 - E25,000 | 325,195 | 16 | 277,302 | 13 | ||||
| E25,001 - EBD000 | 293,783 | 6 | 469,487 | 9 | ||||
| E80,001 - E100,000 | 583,365 | 6 | 612,142 | 7 | ||||
| 2,646,214 | 241 | 2,465,854 | 235 |
| Overhead and supp |
ort | costs were | allocated between |
governance and char |
itable activitie |
s as detailed below: | s as detailed below: |
|---|---|---|---|---|---|---|---|
| as restated | |||||||
| 2023 | 2022 | ||||||
| Charitable | Charitable | ||||||
| Unrestricted Fund |
Activities | Governance | Activities | Governance | |||
| E | E | ||||||
| Audit fees | 5,934 | 5,160 | |||||
| Legal and professional | costs (mc. | expenses) | 28,408 | 64,969 | 28,257 | 45,717 | |
| Accountancy and admrnistration |
(inc expenses) | 165,218 | 37,205 | 171,028 | 14,761 | ||
| Employers' liabriity |
insurance | 796 | 774 | ||||
| Trustees' indemmty |
insurance | 877 | 761 | ||||
| Grant assessors' expenses |
7,309 | 7,014 | |||||
| Trustees' expenses | 67 | 650 | |||||
| Ooctoral interviews | 438 | 352 | |||||
| Bank charges | 125 | 124 | |||||
| yyebsite development |
and hosting | 6,874 | 6,774 | ||||
| informatIon Commissioner |
35 | 35 | |||||
| 208,314 | 109,941 | 214,075 | 67,332 |
| Expenses of667(2022 6650)we | re ch | arge | d by one Trustee (2022 two) |
in the year ended 30 | September 20 |
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| E | |||||
| Travel | 67 | 650 | |||
| FIXEDASSET INVESTMENTS | 2023 | 2022 | |||
| E | E | ||||
| Movement in fixed asset listed |
investments | ||||
| Market value at 30September 2022 | 83,612,772 | 96,878,745 | |||
| Less: sale proceeds | (3,400,000) | (1,600,000) | |||
| Add: acqwsit iona at cost | 486,168 | 481,043 | |||
| Net gams/(losses) on revaluation |
and | disposal | 4,703,416 | (12,147,016) | |
| Market value at 30September | 2023 | 85,402,356 | 83,612,772 | ||
| Histoncai cost ofquoted investments | at | 30September 2023 | 75,237,104 | 77,476,209 | |
| AR mvestments are listed on a recognised |
stock exchange. |
| Market value | Histoncal | |||
|---|---|---|---|---|
| 30rr9/23 | value | |||
| Artemis Income (Exclusionsi Fund |
22,530,213 | 14,859,765 | ||
| Bailhe Gifford Global Alpha Growth | Fund Bacc | 15,303,586 | 15,129,757 | |
| Baillie Gifford Multi Asset Growth | Fund 81acc | 14,473,979 | 16,458,789 | |
| Pictet Multi Asset Portfoho 2 acc | 15,641,862 | 14,742,187 | ||
| RBCGuardCap Global Equity Fund |
17,452,716 | 14,046,605 | ||
| CURRENT ASSETS | ||||
| 2023 | 2022 | |||
| E | E | |||
| Accruals -Taxation reclaim |
89,180 | |||
| - Due from Provident | Fund | 108,998 | ||
| - Prepayments | 14,360 | 13,015 | ||
| Royal London 5hort Term Fixed Income Fund | Y Inc | 2,445,355 | 508,893 | |
| CAF Chanty Money Management | 333,698 | 631,384 | ||
| 2,991,591 | 1,153,292 |
| LIABILITIES: | amounts |
falli | ng due within | one year | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| E | E | |||||
| Accruals | - Charles | Russell Speechlys | LLP | 12,761 | 6,245 | |
| -AZETS | 900 | |||||
| -Auditor's | fees | 5,676 | 5,160 | |||
| - Accounting | and taxation | services | 2,520 | 1,009 | ||
| - Investment | managers | 18,466 | 19,132 | |||
| Grants | 1,531,668 | 1,579,366 | ||||
| 1,571,091 | 1,611,812 | |||||
| LIABILITIES: | amounts | falling due after | one year | |||
| 2023 | 2022 | |||||
| E | E | |||||
| Grants | 382,983 | 330,021 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| 6 | E | |||||||
| Net movement | in funds (as per the Statement | of Financial | Activities) | 3,615,642 | (13,048,289) | |||
| (Gams)/losses | on mvest ments | (4,703,416) | 12,147,016 | |||||
| Deduct investment | income | shown in investing |
activities | (1,461,092) | (1,535,363) | |||
| (increase)/decrease | in debtors | (199,523) | 273,694 | |||||
| Increase/(decrease) | in creditors | 12,241 | (592,521) | |||||
| Net cash used | in operating | activities | (2,736,148) | (2,755,463) | ||||
| SUMMARY OF FUND MOVEMENTS | ||||||||
| Fund | Fund | |||||||
| balances | balances | |||||||
| brought | Gains and | carried | ||||||
| Fund Name | forward | Income | Expenditure | losses | forward | |||
| Unrestricted | Funds | 82,824,231 | 1,892,361 | (3,003,708) | 4,726,989 | 86,439,873 | ||
| Total Funds | 82,824,231 | 1,892,361 | (3,003,708) | 4,726,989 | 86,439,873 |