Charity Number: 268124
THE IDLEWILD TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
RPG CROUCH CHAPMAN LLP
Chartered Accountants
5th Floor
14-16 Dowgate Hill
London EC4R 2SU

THE IDLEWILD TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY,
ITS TRUSTEES AND ADVISERS
For the year ended 31 December 2020
Trustees
The following are the Trustees who served during the year and are
appointed by the Trustee body as and when necessary.
Mr J.A. Ford O.B.E. (Chair)
Mr J. Gittens
Ms T. Mayhew
Mrs H. Mccabe
Dr T. Murdoch
Mr J. G. Ouvry
(resigned 31 January 2021)
Director
Mrs R.T. Oglethorpe
Address
Marshall House
66 Newcomen Street
London
SE11YT
Auditors
RPG Crouch Chapman LLP
Chartered Accountants
5th Floor
14-16 Dowgate Hill
London EC4R 2SU
Solicitors
Charles Russell Speechlys LLP
5 Fleet Place
London
EC4M 7RD
Bankers
Cafcash Limited
Kings Hill
West Malling
Kent
ME19 4TA
Stockbroker
Rathbone Investment Management Limited
8 Finsbury Circus
London
EC2M 7AZ
Charity Number 268124

THE IDLEWILDTRUST
REPORT OF THE TRUSTEES
The Trustees present their annual report and financial statements of the Charity for the year ended 31
De￿mber 2020. The financial statements have been prepared in accordan￿ with the accounting policies
set out in Note 1 to the accounts and comply with the Charity's Trust Deed, the Charities Act 2011 and
Accounting and Reporting by Charities: Statement of Recommended Practi￿ applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of Ireland published on 16 July 2014.
Constitution
The Trust was founded in 1974 by Mr Peter Brissault Minet and is governed by a Trust Deed dated 23 July
1974 and a Scheme of 15 De￿mber 1998.
Objects of the Trust
1. The advan￿ment of education and learning and the encouragement of music, drama and the fine arts.
2. Preservation for the benefit of the public of lands, buildings and other objects of beauty or historic
interest.
Grant-making Policy
In 2015 the Trustees reviewed the Trust's grant-making policy. For a trust the size of The Idlewild Trust, its
remit within the fine arts and heritage sector had been broad. The Board of Trustees adopted what it felt
was 'best practice, for The Idlewild Trust and decided to focus its grant-making on two clearly defined areas,
increasing clarity for both applicants and the Trust. Following a period of research, alongside internal and
external discussions with a range of stakeholders, Trustees agreed to focus on the following areas within
the objects of the Trust in which The Idlewild Trust believes its grants can make a differen￿ and deliver
public benefit:
1) Conservation Fund: Objects and Works of Art: to support the conservation of historic or artistically
important objects and works of art in museums, galleries, pla￿S of worship, historic buildings or their
grounds.
2) Arts Fund: Nurturing Early Stage Professionals: to support programmes that improve opportunities for
young professionals working creatively within the arts, at an early stage in their career.
It remains the policy of the Trustees to make grants to registered charities (not individuals) in the United
Kingdom only.
Full information on funding guidelines and exclusions can be found on www.idlewildtrust.org.uk.
Distribution Policy
The Trustees, policy is to distribute the net income of the Trust annually by way of grants for the purposes
described. Net income means the gross income of the Trust less salary and administration costs. The
Trustees also decided that from January 2014 investment costs will be paid from capital funds of the Trust
thereby increasing the amount available for its grants programme.
Investment Powers
Under the Trust Deed, the Trust has the power to make any investments which the Trustees see fit.
Organisational structure
The Trustees consider the Board of Trustees and the Director as comprising the key management
personnel of the Charity in charge of directing and controlling the Charity and running and operating the
Charity on a day to day basis. All Trustees give their time freely and no Trustee remuneration was paid in
the year.
Trustees are required to disclose all relevant interests and register them with the Director and in accordan
with the Trust's policy withdraw from decisions where a conflict of interest arises. The pay of the Charity's
Director is reviewed annually and normally increased in accordan￿ with average earnings.

THE IDLEWILD TRUST
REPORT OFTHE TRUSTEES
Trustee Recruitment & Training
The Trustees keep the number of Trustees under regular review. During the year Trustees are offered
training courses and events appropriate to their individual needs and interests. The Board of the Trustees
has the power to appoint new Trustees as and when it sees fit to a maximum of seven. However, no single
Trustee has the power to appoint any other. New Trustees are offered induction training.
Ms Tessa Mayhew, Trustee and Chair Designate, was elected as Chair on 17 November 2020 SUC￿eding
Mr J A Ford. Ms Mayhew resigned as Chair on 10 De￿rnber 2020 and as a Trustee on 31 January 2021
due to a change in circumstances, and Trustees agreed that Mr J A Ford should be re-elected as Chair until
a new Chair was chosen.
Review of Activities and Future Plans
138 appeals were considered during 2020 (2019 - 192). The Trustees met twice during the year, awarding
grants in June 2020 and November 2020. The total grants paid amounted to £125,255 (2019: £184,196)
and totalled 32 grants (2019 - 47). The breakdown of the number of grants made and amounts given is as
follows:
No.
1. Conservation Fund: Objects and Works of Art
31,405
25%
2. Arts Fund: Nurturing Early Stage Professionals
Dance
Music
Theatre
Visual Arts/Museums
Other
Total Arts Fund
5,000
42,350
24,500
22,000
11
34%
20%
18%
23
93,850
Total:
32
£ 125,255
The Idlewild Trust intrOdU￿d the Conservation and Arts Funds and its new website in July 2016 and made
its first grants, decisions within the new scheme in November 2016. The two new specific areas of the
Trust's new grant-making programme have resulted in more focused applications being submitted and have
enabled Trustees to make decisions based on clearer and more relevant infomiation provided. The Idlewild
Trust will continue to monitor the funds carefully and make any adjustments ne￿SSary to ensure there is
clarity for applicants and that the funds continue to meet The Idlewild Trust's objectives, articulated above
under its grant-making policy.
The Trust moved all its operations online from the start of the national lockdown that was called by the UK
Government in response to the COVID-19 pandemic on 23 March 2020. The Director worked from home
remotely and all communication with Trustees and other parties was by conference call, zoom or email.
The Director of The Idlewild Trust is also Director of The Peter Minet Trust, a place-based funder in
Southwark and Lambeth. Both Trusts share the same founder, Peter Minet, and share a common
administrative and operational infrastructure, but are separate charities with separate Boards of Trustees.
The Trustees will be considering whether this structure is appropriate for the work of the Trusts as they
develop.
The Idlewild Trust shares an office with The Peter Minet Trust and The Wakefield and Tetley Trust. The
Wakefield and Tetley Trust signed a lease in March 2019 with Marshall's Charity, the owners of Marshall
House. The lease is for ten years, with a five year break-clause. The Peter Minet Trust signed a Licence to
Occupy with The Wakefield and Tetley Trust, and The Idlewild Trust signed a Memorandum of
Understanding with The Peter Minet Trust. The Peter Minet Trust passes 50 % of the costs charged to Peter
Minet Trust by The Wakefield and Tetley Trust to The Idlewild Trust. The Licence to Occupy and the
Memorandum of Understanding adopt the same temis as those in the lease.

THE IDLEWILDTRUST
REPORT OF THE TRUSTEES
Public Benefit
The objects of the Trust are set out above under 'Objects of the Trust,. Trustees have considered the
guidan￿ contained in the Charity Commission's general guidan￿ on public benefit when reviewing the
Trust's activities and setting its grant making policy. Trustees keep public benefit in mind when discussing
the grants made by the Trust to other charities that also, as charitable organisations, deliver public benefit.
The Trust aims to improve opportunities for young professionals working creatively in the arts at an early
stage in their careers through its Arts Fund that awards grants to charities worf(ing in the Arts. It also aims to
support the conservation of important works of art and objects that are being lost through the lack of funds
to look after these works through its Conservation Fund. This Report, under 'Review of Activities, above,
shows how the Trust delivered its support to charities that are themselves delivering public benefit.
Investment Policy
In 1974 Peter Minet, founder of The Idlewild Trust, passed to the Trust proceeds of the sale of property
owned in South London, to be held by the Trustees subject to powers and provisions of the charitable trust
set out in the Trust Deed. When the Trusvs premises in Knatchbull Road, Lambeth, were sold in 2005
prO￿edS of this sale were included in the Trust's portfolio. The Trust's portfolio is managed by Rathbone
Investment Management Limited.
The Trustees have the power to invest in such stocks, shares and investments as they see fit. They have
consequently agreed to invest in a wide range of securities with the overall aim of producing sufficient
income to fund a programme of grants while at the same time safeguarding the capital of the Trust.
The Trustees have appointed Rathbone Investment Management Limited to manage these investments on
their behalf with wide discretionary powers to purchase and sell investments as they believe to be
appropriate.
At 31 De￿mber 2020 the Trust was fully invested and comprised UK and overseas fixed interest securities
of 10 % and 1 % respectively, UK and overseas equities of 38 % and 40 % respectively and Alternatives of
11%.
The Trustees review the performance of the portfolio annually with a view to maximising the number of
grants the Trust can make. As the Trust has no forward commitrnents it can take a relatively long view of
investment policy where capital growth is as important as income. In view of this, Trustees have agreed that
from time to time they may use part of any capital appreciation along with income in their grants programme.
The Trustees have also decided that their investment manager should be required to sign up to the United
Nations "Principles of Responsible Investment" (which Rathbone Investment Managers Ltd have done).
Reserves Policy
The Trustees have not adopted a specific reserves policy Sin￿ in the long tenn they aim to distn'bute the
net income of the Trust.
Risk Management
The Trustees have completed an assessment of the risks facing the charity; these have been documented
together with details of actions required to mitigate those risks. These details are reviewed regularly by the
Trustees to ensure that the Risk Register remains complete and up to date. Both COVID-19 and Brexit were
risks for The Idlewild Trust in the year on the return on investments. Trustees will continue to monitor and
learn from external SoUr￿S including its investment managers.
Financial Review
The Trust's income is almost entirely derived from income from its investment portfolio with Rathbones,
which yielded £144,659 in the year to 31 December 2020 (2019: £208,177) being an decrease of 30 %. This
decrease in income was a result of widespread dividend cuts across equity markets particularly in the UK
and Europe in response to Covid 19. The Trustees distributed £125,255 (2019: £184,196) by means of
grants to support projects in the arts and conservation sectors.
At the year end, the charity held funds of £6,495,505 (2019: £6,508,878), which are largely represented by
cash and its investment portfolio. The portfolio is balan￿d across sectors and regions so that while income
suffered, capital values recovered well from the dip in value of the first quarter.
Fundraising Activities
The Idlewild Trust does not undertake any fundraising activities.

THE IDLEWILD TRUST
REPORT OF THE TRUSTEES
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practi￿).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements
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 charity for that period. In preparing these financial
statements, the Trustees are required to, select suitable accounting policies and then apply them
consistently; obsetve the methods and principles in the Charities SORP; make judgements and estimates
that are reasonable and prudent; state whether applicable accounting standards have been followed,
subject to any material departures disdosed and explained in the financial statements; and prepare the
financial statements on a going concem basis unless it is inappropriate to presume that the Trust will
continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the Trust and enable them to ensure that the financial statements
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 Trust and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the Maintenan￿ and integrity of the charity and financial information
included on the charity's website. Legislation in the United Ksngdom goveming the Pfeparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
This report was approved and authorised for issue by the Trustees on 25 May 2021 and signed on its behalf
by:
Trustee
Date:

INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF THE IDLEWILD TRUST
Opinion
We have audited the financial statements of The Idlewild Trust for the year ended 31 December 2020 as set
out on pages 9 to 16. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards including FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting
Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities
preparing their accounts in accordan￿ with the Financial Reporting Standards applicable in the UK and
Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of
Recommended Practi￿ issued on 1 April 2005 which is referred to in the extant regulatsons but has been
withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally
Accepted Accounting Practi￿ effective for reporting periods beginning on the after 1 January 2015.
This report is made solely to the Charitvs Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
Charity's Trustees those matters we are required to state to them in an Auditor's report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the Charity and the Charitvs Trustees as a body, for our audit work, for this report, or for the opinions we
have formed.
In our opinion the financial statements:
give a true and fair view of the state of the charitys affairs as at 31 st December 2020 and of its incoming
resources and application of resources, including its income and expenditure for the year then ended;
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practi￿. and
have been prepared in accordance with the Charities Act 2011.
Basis of opinion
We conducted our audit in accordan￿ with International Standards on Auditing (UK) (ISAS (UK) and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of the
Charity in accordance with ethical requirements that are relevant to our audit of the financial statements in the
United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordan￿ with these requirements. We believe that the audit eviden￿ we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individualty or collectively, may cast significant doubt on the charitvs ability to continue as a
going concern for a period of at least twelve months from when the financial statements are authorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
In our evaluation of the trustee's condusions, we considered the risks assoaated with the charity's activities,
including the effects arising from macroeconomic uncertainties such as COVID-19 and analysed how those
risks might affect the charitys financial reSoUr￿S or ability to continue operations over the period of twelve
months from the date when the financial statements
re authorised for issue. In accordance wrth the above,

INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF THE IDLEWILD TRUST
However, as we cannot predict all future events or conditions and as subsequent events may result in
outcomes that are inconsistent with judgements that were reasonable at the ts.me they were made, the
absence of reference to a material uncertainty in this auditorfs report is not a guarantee that the charity will
continue in operation.
Other information
The Trustees are responsible for the other infomiation. The other information comprises the information
included in the Annual report, other than the financial statements and our Auditors report thereon. Our opinion
on the financial statements does not cover the information and, ex￿pt to the extent other¥vise expliatly stated
in our report, we do not express any form of assuran￿ condusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether there is a
material misstatement in the financial statements or a material misstatement of the other information. If,
based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact.
We have nothing to report in this regard.
Capability of the audit to detect irregularities including fraud
We gained an understanding of the legal and regulatory framework applicable to the charity and the industry
in which it operates, and considered the risk of acts by the charity which were contrary to applicable laws and
regulations, including fraud. These included but were not limited to compliance with the Charities Act 2011
and FRS102.
We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment.
We focused on laws and regulations that could give rise to a material misstatement in the financial
statements. Our tests induded, but were not limited to:
agreement of the financial statement disclosures to underlying supporting documentation;
enquiries of management;
review of minutes of board meetings throughout the period; and
obtaining an understanding of the control environment in monitoring compliance with laws and
regulations.
There are inherent limitations in the audit procedures described above and the further removed
noncomplian￿ with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. We also addressed the risk of management override
of internal controls, including testing journals and evaluating whether there was eviden￿ of bias by the
trustees that represented a risk of material misstatement due to fraud.
Matters on which we are required to report by ex￿ptIOn
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulation 2008 require us to report to you if. in our opinion:
the information given in the financial statements is inconsistent in any material respect with the Trustees,
report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all of the information and explanations we require for our audit.

INDEPENDENT AUDITORS, REPORT
TO THE TRUSTEES OF THE IDLEWILD TRUST
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the Trustees detemiine is ne￿SSary to enable the preparation of the financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the Charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the Charity's or to ￿ase operations,
or have no realistic alternative but to do so.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as audrtors under section 145 of the Charities Act 2011 and report in accordan
with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditorfs report that includes our
opinion. Reasonable assurance is a high level assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: ￿w.frC.org.Uklaudlt0rsreSponSlbllitles. The description forms part of our
Auditorfs report.
RPG CROUC
CHAPMAN LLP
Chartered Accountants
Statutory Auditor
5th Floor
14-16 Dowgate Hill
London EC4R 2SU
D*.- 131gl31
RPG Crouch Chapman LLP is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

THE IDLEWILD TRUST
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2020
2020
Unrestricted
Fund
2019
Unrestricted
Fund
Notes
Income from:
Investments
144,659
208,177
Total income
144,659
208,177
Expenditure on:
Raising funds
Investment management costs
Investment dealing charges
23,022
17,726
24,529
Charitable activities
Grants
Salaries
Adm inistration costs
125,255
27,185
17,060
184,196
26,609
17,720
Total Expenditure
210,248
253,054
Net Expenditure before gains on Investment
assets
(65,589)
(44,877)
Gains on investment assets
52,216
833,447
Net Incomel(Expenditure)
(13,373)
788,570
Net movement In funds
(13,373)
788,570
Reconciliation of funds
Total Funds at 1 January 2020
6,508,878
5,720,308
Total Funds at 31 December 2020
6,495,505
6,508,878

THE IDLEWILD TRUST
(Charity no. 268124)
BALANCE SHEET
At 31 December 2020
Notes
2020
2019
Fixed Assets
Investments
Tangible assets
6,339,385
795
6,251,064
1,284
6,340,180
6,252,348
Current Assets
Debtors
Cash at bank
10
4,074
171,856
175,930
3,882
272,004
275,886
Current Liabilities
Creditors:
Amounts falling due within one year
11
(20,605)
(19,356
Net Current Assets
155,325
256,530
Total Assets Less Current Llabilities
6,495,505
6,508,878
Funds of the Charity
Unrestricted
13
6,495,505
6,508,878
26a
Approved and authorised by the Board of Trustees on 2021 and signed on their behalf by:
rd
Chair
G OVWK
J.G. Ouvry
Trustee
10

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
1 Accounting Policies
(a) Basis of preparation of financial ststements
The financial statements have been prepared under the historical cost convention and in accordance
with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a "true and fairf, view and have therefore
departed from the Charities (Accounts and Reports) Regulations 2008. This departure has involved
following the Charities SORP (FRS 102) as stated above, rather than the Accounting and Reporting by
Charities Statement of Recommended Practice effective from 1 April 2005 which has since been
withdrawn.
The Idlewild Trust constitutes a public benefit entity as defined by FRS 102.
The effects of any events relating to the year ended 31 December 2020 which occurred before the date
of approval of the financial statements by the Board of Trustees have been induded in the financial
statements to the extent required to show a true and fair view of the state of affairs at 31 De￿rnber
2020 and the results for the year ended on that date.
(b) These accounts have been prepared in GBP and all amounts have been rounded to the nearest £.
(c) Fund structure
The charity only has unrestricted funds. Unrestricted income funds comprise those funds which the
trustees are free to use for any purpose in furtheran￿ of the charitable objects.
(d) Income recognition
All income is recognised On￿ the charity has entitlement to the income, it is probable that the income
will be re￿iVed and the amount of income re￿1vable can be measured reliabty.
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Dividends are recognised once the dividend has been declared and notif￿9t1On has been re￿iVed of
the dividend due. This is normally upon notification by our investment advisor of the dividend yield of
the investment portfolio.
(e) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and
govemance costs are allocated or apportioned to the applicable expenditure headings.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the
Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of
the grant award. The notification gives the recipient a reasonable expectation that they will receive the
one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling perfomiance
conditions are only accrued when the recipient has been notified of the grant and any remaining
unfulfilled condition attaching to that grant is outside of the control of the Trust.
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.
(fj Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
11

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
(g) Investments
Investments are shown at their mart(et value. Gains and losses on disposal and revaluation of
investments are charged or credited to the Statement of Financial Activities.
(h) Accrued interest
Accrued interest on fixed interest securities at the date of sale or acquisition is included in the relevant
prO￿edS or cost.
(i) Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. The cost of minor additions or those costing
less than £250 are not capitalised. Depreciation is provided at rates calculated to write off the cost of
fixed assets, less their estimated residual value, over their expected useful lives on the following
bases:
Office equipment - 4 years straight line
Benefactor software equipment - 3 years straight line
(I.) Debtors and prepayments
Debtors are recognised at the settlement amount after any potential trade discount offered.
Prepayments are valued at the amount prepaid net of any potential trade discount due.
(k) Cash at bank
Cash at bank and in hand includes cash and short tenn highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
(l) Liabilities
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity
anticipates it will pay to settle the debt or the amount it has re￿iVed as advanced payments for the
goods or ServI￿S it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reftects the risks specific to the liability. The
unwinding of the discount is recognised within tnterest payable and similar charges.
(m) Pension costs
The Charity incurs pension costs in connection with the payment of a pension to a former staff
member. This is charged in the accounts as paid. The accounts also indude a charge for a contribution
to the personal pension of current staff.
(n) Cash flow statement
The financial statements do not include a cash flow statement because the charty, as a small reporting
entity, is exempt from the requirements to prepare such a statement under Financial Reporting
Standard 102 as amended by Update Bulletin 1.
(o) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and
losses on investments are calculated as the difference between sales pro￿edS and their opening
carrying value or their purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end
and their carrying value. Realised and unrealised investment gains and losses are combined in the
Statement of Financial Activities.
(p) Financial instruments
Basic financial instruments are initially recognised at transactson value and subsequently measured at
their settlement value with eX￿ptIon of any bank loans which are subsequently measured at amortised
cost using effective interest method. Investments are measured at fair value with changes recognised
in the Statement of Financial Activities.
12

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
2 Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the CharIt￿S accounting policies, the Trustees may be required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not
readily apparent from other SoUr￿s. The estimates and associated assumptions are based on
historical experien￿ and other factors that are considered to be relevant. Actual results may differ
from these estimates.
The estimates and underlying assumption are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that
period, or in a period of the revision and future periods if the revision affects both current and future
periods.
At the year end date the Trustees had not identified any relevant estimates for which assumptions
might be needed in the financial statements.
3 Investment income
2020
2019
Income from investments
Interest re￿1vable
144,574
85
144,659
208,005
172
208,177
4 Charitable Grants
2020
2019
Charitable Grants approved in the year to 31 De￿rnber 2020
20 Stories High
Blue Elephant Theatre
Brecon Beacons Music Trust
British Library
Cheltenham Festivals
Donmar Warehouse
Dunedin Consort Trust
Edinburgh Art Festival
Glyndeboume
Hackney Showroom (New Future Collective Ltd)
Hexham Abbey PCC
International Guitar Foundation
Liverpool Everyman and Playhouse Theatres
Maiden Voyage Dan￿ Company
Modern Art Oxford
National Youth Choirs of Great Britain
Orange Tree Theatre Ltd
PCC of Brightling (St Thomas a Becket)
Pope's Grotto Preservation Trust
PSAPPHA Ltd
Royal Scottish National Orchestra
Sinfonia Cymru
St Giles Church South Mymms
St Saviourfs Church Dartmouth
The Blue Coat
The Common Room of the Great North Ltd
The Design Museum
The Tenebrae Choir
The Unicorn Preservation Society (HMS Unicorn)
3,000
5,000
3,850
1,725
5,000
5,000
3,000
3,000
2,500
4,000
5,000
5,000
2,500
5,000
5,000
5,000
5,000
4,500
2,000
4,000
5,000
2,000
5,000
5,000
5,000
2,500
5,000
2,000
111,255
13

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
2020
2019
4 Charitable Grants (continued)
blf
Tredington and Stoke Orchard PCC (St James, Church)
West Yorkshire Print Workshop
World Heart Beat Music Academy
111,255
5,000
4,000
5,000
125,255
Charitable Grants approved in the year to 31 De￿rnber 2019:
All Saints Church, Snodland
All Saints North Street, York
All Saints, Morston
Almeida Theatre
Bamsley Museums and Heritage Trust
Berwick (Sussex) Conservation Trust
Birmingham Royal Ballet
Chisenhale Studios (Chisenhale Art Pla￿ Ltd)
Citzens Theatre Ltd
Classical Opera and the Mozartists
Clonter Opera Theatre
Culture Perth and Kinross
Dundee Rep and Scottish Dance Theatre Ltd
Exeter Cathedral
Exeter Northcott Theatre
Glasgow Film Theatre
Historic Coventry Trust
Historic Royal Palaces
Imaginate
London Philharmonic Orchestra
London Sinfonietta
London Symphony Orchestra
Longborough Festival Opera
Lyric Hammersmith Theatre
National Opera Studio
National Youth Theatre
NDC Wales
New English Ballet Theatre
Northem Stage
Opera Holland Park
Oxford Lieder
Pleasance Theatres Trust
Royal Museums Greenwich
Scottish Opera
St Conan's Kirk Trust
St Helen's Church, Bilton-in-Ainsty
St Mark's Church, Parish of Badshot Lea and Hale
St Mary the Virgin, Buckland C of E
St Nicholas Church, Hardenhuish
St Wilfrid's RC Church
Studio Wayne McGregor
Tamasha Theatre Company
The Guild of St Thomas & St Edmund, Salisbury
Tom Dale Company
Traverse Theatre (Scotland) Ltd
Wiltshire Music Centre Trust Ltd
York Minster Fund
600
5,000
5,000
5,000
2,606
5,000
4,000
3,000
3,000
5,000
2,000
3,000
2,500
4.090
3,050
5,000
5,000
2,500
3,000
2,000
4,000
5,000
5,000
5,000
5,000
5,000
4,000
4,000
5,000
5,000
3,900
2,000
3,000
3,000
5,000
3,000
5,000
4,500
2,500
5,000
4,950
3,000
5,000
4,000
5,000
3,000
5,000
184,196
125,255
14

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
5 Trustees, remuneration and expenses
During the year, no member of the Board of Trustees received any remuneration or any reimbursement
of expenses (2019 - £NIL)
6 Salaries
2020
2019
Salary of Trust Director
Pension to former employee
Contribution to Trust Directorfs pension plan
Social Security costs
20,204
5,402
1,010
569
27,185
19,569
5,312
978
750
26,609
The average monthly number of employees was as follows:
Administration - part time shared with The Peter Minet Trust.
No
No
No employee re￿iVed remuneration of more than £60,000.
Apart from the Trustees, key management comprises the Charity Director. The aggregate
remuneration of key management amounted to £20,204 (2019: £19,569)
7 Administration
2020
2019
Office expenses
Property expenses
Professional fees
Audit fee
Auditors - other services
Depreciation
6,181
5,949
7,419
4,807
1,590
3,060
355
489
17,720
3,120
335
489
17,060
8 Fixed Asset Investments
2020
2019
Quoted Investments
Market value at 1 January 2020
Additions
Disposals
Realised investment gainsl(losses)
Unrealised investment gains
6,251,064
1,473,519
(1,437,414)
(248,573)
300,789
5,413,747
558,953
(555,083)
43,599
789,848
Market value at 31 December 2020
6,339,385
6,251,064
Cost at 31 December 2020
4,469,102
4,469,102
UK Investments
Foreign Investments
3,716,501
2,622,884
3,871,294
2.379,770
6,339,385
6,251,064
At 31 De￿mber 2020 one investment was valued at more than 5 % of the total market value (2019 -
one).
15

THE IDLEWILD TRUST
NOTES TO THE ACCOUNTS
For the year ended 31 December 2020
Office Benefactor
equipment
software
9 Tangible Assets
Total
Cost
At 1 January 2020
Additions
At 31 De￿mber 2020
8,283
11,627
8,283
11,627
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
2,060
489
2,549
8,283
10,343
489
10,832
8,283
Net Book Value
At 31 De￿rnber 2020
795
795
At 31 De￿rnber 2019
1,284
1,284
10 Debtors
Due within one year:
Prepayments
2020
2019
4,074
4,074
3,882
3,882
11 Creditors
Due within one year:
The Peter Minet Trust
Investsnent Management Fee
Audit fee
Accountant's fee
Payroll processing
Grant payable
Other accruals
Pension contribution
2020
2019
9,418
6,279
3,120
986
58
680
8,754
6,266
3,060
928
300
48
19,356
20,605
12 Financial Instruments
2020
2019
Financial assets measured at fair value through income and
expenditure
6,339,385
6,251,064
13 Statement of funds
The Charity only has unrestricted funds and therefore income and expenditure
represents unrestricted funds.
14 Related party transactlons
There were no related party transactions other than those stated in Note 5.
16