2021-04-05-accounts - The Robert Gavron Charitable Trust

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CONTENTS			PAGE
General Information
Trustees' Report			3-5
Auditors' Report			6-8
Statement ofFinancial	Activities
Balance Sheet			10
Statement ofCash Flows
Notes to the Financial	Statements		12-17
Schedule ofCash Charitable		Donations Paid	18

SETTLOR	Lord Gavron CBE(Deceased)	Lord Gavron CBE(Deceased)
DEEDS	Settlement dated 31st	July 1974
REGISTERED
CHARITY NO.	268535
REGISTERED	27 Maywin Drive
ADDRESS	Hornchurch
	Essex
	RM11 3ST
TRUSTEES	Dr Katharine Susan Gavron (Chair)
	Charles Leonard Corman
	Jessica Leah Gavron
	Sarah Gavron
MAIN TERMS	The trustees are directed to hold the			capital and income ofthe trust		fund for such charitable		institutions
	or charitable purposes	as the trustees		shall Irom time to time in their absolute discretion			determine.
INVESTMENT
POWERS	The trustees have very	wide investment			powers.
	Handelsbanken
	2nd Floor, High Hill House
	6A Hampstead High Street
	London, NW3 1PR
HONORARY	Dechert LLP
SOLICITORS	160Queen Victoria Street
	London EC4V 4QQ
FUND	Schroder &Co Limited (formerly		Cazenove Capital Management			Ltd)
MANAGERS	12Moorgate
	London
	EC2R6DA
	Ruffer LLP
	80Victoria Street
	London
	SW1E5JL
AUDITORS	Prentis &Co LLP
	Chartered Accountants	&Statutory		Auditors
	115cMilton Road
	Cambridge
	CB4 1XE

				2021	2020
				Unrestricted	Unrestricted
			Note
INCOME
Investment income				104,206	127,899
TOTAL INCOME				104,206	127,899
EXPENDITURE
Cost ofraising funds;
Investment management		costs		27, 116	34,154
Expenditure on charitable		activities		417,687	465,637
TOTAL EXPENDITURE				444,803	499,791
NET EXPENDITURE BEFORE
GAINS/(LOSSES)	ON INVESTMENTS			(340,597)	(371,892)
Net gains/(losses) on investments				1,945,373	(539,710)
NET MOVEMENT	IN FUNDS			1,604,776	(911,602)
RECONCILIATION	OF	FUNDS
Total funds brought	forward			7,321,761	8,233,363
Total funds carried	forward			8,926,537	7,321,761

BALANCE SHEET
	Note		2021	2020
FIXEDASSETS
Investments			8,865,711		6,986,827
CURRENT ASSETS
Cash			128,467	441,766
Debtors and ptepttyments			4@03
TOTAL CURRENT ASSETS			132,670	441,766
LIABILITIES
Creditors: falling due within
one year	10		(51,844)	(58,832)
NET CURRENT ASSETS			80,826		382,934
Total assets less current liabilities			8,946,537		7,369,761
Creditors: falling due after one year	10		(20,000)		(48,000)
TOTAL NET ASSETS			8,926,537		7,321,761
THE FUNDS OFTHE CHARITY
Unrestricted Funds	12		8,926/37		7,321,761
The accounts on pages 9to 17 were approved	by the Trustees on	(Q	~~4L

					2021	2020
				Note	Total	Total
Net cash used in operating	activities			13	(483,994)	(518,994)
Cash flows from investing	activities:
Interest and dividends					104,206	127,899
Net sale ofinvestments					66,489	589,964
Net cash provided by investing		activities			170,695	717,863
Change in cash and cash equivalents			in the year		(313,299)	198,869
Cash and cash equivalents	at the	beginning
ofthe reporting period					441,766	242,897
Cash and cash equivalents	at the			13
end ofthe reporting period					128,467	441,766

cost charge represents contributions payable by the	Trust to the fund.
INVESTMENT INCOME			Total
Year ended 5th April 2021	UK	Non-UK	2021
Equities Fixed interest	29,472 24,336	45,923 4,475	75,395 28,811
	53,808	50,398	104,206
INVESTMENT INCOME			Total
Year ended 5th April 2020	UK	Non-UK	2020
Equities Fixed interest	63,213 12,024	32,514 19,346	95,727 31,370
Interest from stockbroker	802		802
	76,039	51,860	127,899

	CHARITABLE ACTIVITIES	CHARITABLE ACTIVITIES	CHARITABLE ACTIVITIES					Support and
	Year ended 5th April		2021				Charitable	Governance	Total
							Activities	Costs	2021
	Donations (note 4)						367,990		367,990
	Staffcosts (note 6)							41,227	41,227
	Stationery costs							462	462
	Bank charges							520	520
	Exchange rate losses							4	4
	Bookkeeping and payroll							3,982	3,982
	Audit and accountancy		fees					3,502	3,502
							367,990	49,697	417,687
	CHARITABLE ACTIVITIES							Support and
	Year ended 5th April		2020				Charitable	Governance	Total
							Activities	Costs	2020
	Donations (note 4)						415,718		415,718
	Staffcosts (note 6)							42/48	42,248
	Subscriptions							546	546
	Bank charges							576	576
	Exchange rate gains							(5)	(5)
	Bookkeeping and payroll							3,508	3,508
	Audit and accountancy		fees					3,046	3,046
							415,718	49,919	465,637
4)	CHARITABLE DONATIONS			PAYABLE				2021	2020
	Total cash donations	paid during		the	year (see page 18)			402,990	454,718
	Donations paid during		the year that were included			in the previous
	year's provisions							(53,000)	(58,000)
	Total net current year		cash donations		paid			349,990	396,718
	Additional donations		committed	to be paid within		one year		18,000	11,000
	Additional donations		committed	to be paid after		one year			8,000
	Total donations charged to the Unrestricted Income Account							367,990	415,718
	NET DEFICIT FOR THE YEAR							2021	2020
	The net deficit for the		year is arrived		at after charging;
	Audit fee							1,900	1,850
	Fees paid to Auditors		for other services					5,584	4,704

STAFFCOSTS AND REMUNERATION	PERSONNEL
	2021	2020
Salaries and wages	55,000	55,000
Social security costs	2,377	3,398
Pension costs	3,850	3,850
Less: Cost contributions	(20,000)	(20,000)
	41,227	42,248

The Trust considers its key management	The Trust considers its key management	personnel	to be the Trustees and Anthony	to be the Trustees and Anthony	Dance (Trust	Dance (Trust
Administrator). No remuneration	was	paid to the	Trustees	in the year nor were any expenses reimbursed to
thein,
INVESTMENTS					2021	2020
Market value at 6th April 2020					6,986,827	8,116,501
Additions					3,308,800	9,565,801
Disposals					(3,375,289)	(10,155,765)
Net unrealised (losses)/gains					1,200,156	(713,014)
Net realised (losses)/gains					745,217	173,304
Market value at 5th April 2021					8,865,711	6,986,827
Historical cost at 5th April 2021					7,916,056	7,670,596
Investments at fair value comprise:						Total
Year ended 5th April 2021				UK	Non UK	2021
Equities				2,421,425	5,347,714	7,769,139
Fixed interest				658,773	381,799	1,040,572
Unlisted investments				56,000		56,000
				3,136,198	5,729,513	8,865,711
Investments at fair value comprise:						Total
Year ended 5th April 2020				UK	Non UK	2020
Equities				1,575,928	4,382,344	5,958,272
Fixed interest				481,881	529,674	1,011,555
Unlisted investments				17,000		17,000
				2,074,809	4,912,018	6,986,827

CASH				2021	2020
Bank accounts				58,930	81,601
Fund managers'	accounts			69,537	360,165
				128,467	441,766
DEBTORS AND PREPAYMENTS				2021	2020
(All due within	one year)
Prepayments and accrued income				4,203
CREDITORS		2021		2020
		Due within	Due after	Due within	Due after
		one year	one year	one year	one year
Charitable donations		46,000	20,000	53,000	48,000
Accruals		4,192		4,169
Social security	and pension	1,652		1,663
		51,844	20,000	58,832	48,000

ANALYSIS OFCHARITABLE FUNDS	ANALYSIS OFCHARITABLE FUNDS	2021	2020
		Unrestricted	Unrestricted
		General	General
Balance b/fwd	6 April 2020	7,321,761	8,233,363
Income		104,206	127,899
Expenditure		(444,803)	(499,791)
Gains/(Losses)	on investments	1,945,373	(539,710)
Balance c/fwd	5 April 2021	8,926,537	7,321,761

RECONCILIATION	RECONCILIATION	RECONCILIATION	OF INCOMING RESOURCES TO NET CASH FLOW FROM OPERATING	OF INCOMING RESOURCES TO NET CASH FLOW FROM OPERATING	OF INCOMING RESOURCES TO NET CASH FLOW FROM OPERATING
ACTIVITIES
				2021	2020
Net movement	in funds			1,604,776	(911,602)
Adjustments for:
Dividends and	interest		Irom investments	(104,206)	(127,899)
(Gains)/Losses	on	investments		(1,945,373)	539,710
Decrease/(Increase)		in	debtors	(4,203)	20,000
(Decrease)/Increase		in	creditors	(34,988)	(39,203)
				(483,994)	(518,994)
ANALYSIS OF CASH			AND CASH EQUIVALENTS
				2021	2020
					f,
Cash at bank				128,467	441,766

SCHEDULE OF CASH CHA	RITABLE DONATIONS OF K3,000AND ABOVE	RITABLE DONATIONS OF K3,000AND ABOVE	RITABLE DONATIONS OF K3,000AND ABOVE	RITABLE DONATIONS OF K3,000AND ABOVE
Ambition Aspire Achieve Angling4Suc cess Arab Israel Children's Tennis Arnott Cato Foundation	Charity (Freddie Krivine Foundation)				3,000 3,000 60,260 7,992
BalletBoyz Barbados Cricket Association					25,000 22,030
Families United Network					5,000
Imperial War Museum Jackson's Lane Centre					20,000 10,000
Keen London					5,000
King Georges Hospital Charity Leonard Sainer Legal Education			Foundation		7,000 5,000
Les Treteaux des Nuits					9,108
Marie Curie					12,000
Mary Rose Trust Morpeth School National Gallery Trust					10,000 60,000 10,000
No Way Trust Ragged School Museum Royal Free Hospital Charity SJNoble Trust					3,000 5,000 7,000 3,000
Solent University					3,000
Support Through Court Tag Youth Club The Academic Study Group					3,000 5,000 3,000
The BFI					10,000
The Change Foundation					3,000
The Hardman Trust					5,000
The Longford Trust					3,000
The Payground Theatre					10,000
The Respite Association					3,000
The Sofa Project					7,500
The Spires Centre					5,000
The Trussell Trust					5,000
The Vine Centre					5,000
UCLH NHS Trust					5,000
University Jewish Chaplaincy					5,000
Whittington Hospital Charity					7,000
Window Channels (Windows		for Peace)			4,700
Total ofall donations less than		K3,000			18,400
Total donations made during	the		year (note 4)		402,990
Included in this list ofdonations			are organisations	in which a Trustee ofthe Trust has an interest,	The details ofthe Trustee
and organisations concerned	are		set out below,