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||Page|
|---|---|
|TRUSTEES' REPORT|1-5|
|AUDITORS' REPORT|6-7|
|STATEMENT OF FINANCIAL ACTIVITIES||
|BALANCE SHEET||
|STATEMENT OF CASHFLOWS|10|
|NOTES TO THE FINANCIAL STATEMENTS|11-21|
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|Recommend|ed
Practice (FRS|ed
Practice (FRS|102)and update
Bulletins 1lk 2.|102)and update
Bulletins 1lk 2.|102)and update
Bulletins 1lk 2.||
|---|---|---|---|---|---|---|
|Reference|and Administration||Details ofthe Charity, its Trustees and|||Advisors|
|Settlor|||SirJohn Martin||Kirby Laing||
|Date ofDeed|||2July 1979||||
|Trustees|||Sir John Martin||Kirby|Laing|
||||Edward
Charles||Kirby|Laing|
||||Nicholas John|Gregory|||
||||Lady Stephanie||Steam|Laing|
||||Colin Howard|Fletcher|||
||||Alexandra
Catherine
Beatrice Jane Gregory||||
|Registered|Address||33Banns Lane||||
||||Mill Hig||||
||||London||||
||||NW7 2DX||||
|Registered|Charity|Number|278461||||
|Bankers|||HSBC Bank pic||||
||||23 New Conduit||Street||
||||Kings Lynn||||
||||Norfolk||||
||||PE301DE||||
|Solicitors|||Linkl aters||||
||||One Silk Street||||
||||London||||
||||EC2Y BHQ||||
|Accountants|||TMF Global Services (UK) Ltd||||
||||960Capability|Green|||
||||Luton||||
||||Bedfordshire||||
||||LU1 3PE||||
|Auditors|||Mercer &Hole||||
||||72 London
Road||||
||||StAlbans||||
||||Hertfordshire||||
||||AL1 1NS||||
|Investment|Advisors||Barrett &Cooke||||
||||S/6 Opie Street||||
||||Norwich||||
||||NR1 3DW||||
||||Quilter Cheviot||||
||||Senator House||||
||||BSQueen Victoria Street||||
||||London||||
||||EC4V 4AB||||
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|||||||Total|
|---|---|---|---|---|---|---|
|||||||Unrestricted|
||||Expendab||Total|Funds|
||||Endowme|Income|2021|2020|
|||Note|6||6|6|
|INCOME ANO ENDOWMENTS|||||||
|Investments||||359,019|359,019|404,385|
|TOTAL INCOME||||359,019|359,019|404,385|
|EXPENDITURE|||||||
|Cost ofraising funds||3|18,340||18,34D|16,381|
|Charitable
activities||4||319,548|319,548|223,117|
|TOTAL EXPENDITURE|||18,340|319,548|337,888|239,498|
|NET INCOME/(EXPENDITURE)|BEFORE||||||
|GAINS AND LOSSES ON INVESTMENTS|||(18,340)|39,471|21,131|164,887|
|Net gains/(losses)
on investments||10|901,471||901,471|(800,894)|
|NET INCOME/(EXPENDITURE)|AFTER||883,131|39,471|922,602|(636,007)|
|GAINS AND LOSSESON INVESTMENTS|||||||
|(Losses)/gains
on currency|||(132)||(132)|(140)|
|NET MOVEMENT
IN FUNDS|||882,999|39,471|922,470|(636,147)|
|FUND BALANCES BROUGHT FORWARD|||11,130,121|607,581|11,737,702|12,373,849|
|FUND BALANCES CARRIED FORWARD|||12,013,120|647,052|12,660,172|11,737,702|
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|||||2021|2020|
|---|---|---|---|---|---|
||||Note|||
|FIXEDASSETS||||||
|Investments|||10|11,857,155|11,004,825|
|||||11,857,155|11,004,825|
|CURRENT ASSETS||||||
|Debtors|||11|3,518|585|
|Cash at bank|||12|808,519|741,366|
|||||812,037|741,951|
|LIABILITIES:amounts||falling due within one year|13|(9,020)|(9,074)|
|NET CURRENT|ASSETS|||803,017|732,877|
|TOTAL ASSETS LESSCURRENT LIABILITIES||||12,660,172|11,737,702|
|TOTAL NET ASSETS||||12,660,172|11,737,702|
|Representing:||||||
|UNRESTRICTED FUNDS||||||
|Expendable
endowment|||14|12,013,120|11,130,121|
|Undistributed|income||14|647,052|607,581|
|||||12,660,172|11,737,702|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Note||6|
|Cash flows from operating|activities:|||||||
|Net cash provided
by (used in) operating||||activities|16|(341,007)|(239,989)|
|Cash flows from investing|activities:|||||||
|Investment
income||||||359,019|404,385|
|Proceeds from sale ofinvestments||||||793,491|701,874|
|Purchase ofinvestments||||||(1,020,952)|(472,525)|
|Net cash provided
by (used in) investing|||activities|||131,558|633,734|
|Change
in cash and cash equivalents||in the year||||(209,449)|393,745|
|Cash and cash equivalents|at the beginning|||ofthe year||1,269,161|875,416|
|Cash and cash equivalents|at the end|of|the year|||1,059,712|1,269,161|
|Represented
by:||||||||
|Cash held within the investment
portfolio|||||10|251,193|527,795|
|Cash at bank|||||12|808,519|741,366|
|||||||1,059,712|1,269,161|
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|||Unquoted|||||
|---|---|---|---|---|---|---|
|||Investment|Quoted Investments||||
|||Trustees'|Quilter|Barratt &|Total|Total|
|||Names|Cheviot|Cooke|2021|2020|
|||E|E|E|E|E|
|UK investments||71,433|38,357|89,718|199,508|219,875|
|Overseas investments|||27,627|23,697|51,324|69,974|
|DPFC Investment|||115,679||115,679|121,529|
|||71,433|181,663|113,415|366,511|411,378|
|Less; non recoverable|and||||||
|overseas tax|||(2,947)|(4,919)|(7,866)|(8,866)|
|||71,433|178,716|108,496|358,645|402,512|
|Interest on cash deposit|||||374|1,873|
||||||359,019|404,385|
|COST OF RAISING FUNDS|||||||
||||||2021|2020|
|Investment
managers'|charges||||18,340|16,381|
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||E|E|
|Grant funded|activity|||||298,932|202,462|
|Support and governance||costs|charitable|activities||10,419|10,434|
||||governance|||10,197|10,221|
|||||||319,548|223,117|
|ALLOCATION|OF OVERHEAD AND SUPPORT COSTS|||||||
|||||Unrestricted|Funds|||
|||||Expendable||Total|To~el|
|||||Endowment|Income|2021|2020|
|Employment|costs||||9,552|9,552|9,227|
|Computer
maintenance|||||269|269|833|
|Auditors'
fees|||||2,580|2,580|2,520|
|Accountancy|services||||6,727|6,727|6,555|
|Bank charges|||||189|189|120|
|Buildings
and|maintenance||||299|299|400|
|Sundry expenses|||||1,000|1,000|1,000|
||||||20,616|20,616|20,655|
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|||Total||Charitable||||
|---|---|---|---|---|---|---|---|
|Cost Type||Allocated|Governance|Activities|Basis ofApportionment|||
|||E|E|6||||
|Employment|costs|9,552|955|8,597|10%governance/90%|charitable|activities|
|Computer
maintenance||269|27|242|10%governance/90%|charitable|activities|
|Auditor's
fees||2,580|2,580||All governance
costs|||
|Accountancyservices||6,727|6,727||All governance
costs|||
|Bank charges||189||189|Related to transactions|||
|Buildings
and|maintenance|299|30|269|10%governance/90%|charitable|activities|
|Sundry expenses||1,000|100|900|10%governance/90%|charitable|activities|
|2021||20,616|10,419|10,197||||
|2020||20,655|10,221|10,434||||
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|The charity awarded
grants to a n
follows:|umber of institutions
in further|ance
of|its cha|ritable
activities|which ar|e summarised|
|---|---|---|---|---|---|---|
||||2021|||2020|
|||No|||No||
|Child and Youth||||40,000||15,000|
|Cultural
and Environmental||||45,000||30,000|
|Health and Medicine||||60,000||42,000|
|Overseas Development||||83,932||15,462|
|Religion||||20,000||60,000|
|Social Welfare||||15,000||15,000|
|Charities
Aid Foundation||||25,000||25,000|
|The Reculver Trust||||10,000|||
|||||298,932||202,462|
|DONATIONS TO CHARITIES BYCHE|UE OR BANK TRANSFER||||||
|Child and Youth|||||||
|(iST)Childhood
First||||5,00O|||
|Ormiston
Children
&Families Trust||||5,000|||
|The Pushkin Trust||||10,000|||
|University ofEast Anglia||||15,000|||
|Wilderness
Foundation||||5,000|||
|||||40,000|||
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|DONATIONS TO CHARITIES BYCHE|DONATIONS TO CHARITIES BYCHE|UE OR BANK TRANSFER||
|---|---|---|---|
|Cultural
and Environmental||||
|David Shepherd
Conservation|Foundation||5,000|
|Gilbert White &The Dates Collections|||5,000|
|Norfolk
Ik Suffolk Broads Charitable||Trust|10,000|
|Norwich
Puppet Theatre|||5,000|
|Welsh National
Opera|||10,000|
|WWF-UK|||10,000|
||||45,000|
|Health and Medicine||||
|Action for M.E.|||5,000|
|Diabetes
UK|||10,000|
|East Anglian
Air Ambulance|||10,000|
|Essex Dementia
Care|||5,000|
|Home Farm Trust Limited|||5,000|
|Macmillan
Cancer Support|||15,000|
|Norfolk and Norwich Association forthe Blind|||5,000|
|The Brainwave
Centre|||5,000|
||||60,000|
|Flimkien
ghal Ambient
Ahjar|||2,313|
|Fondazzjoni
Patrimonlu
Malti|||11,017|
|Foodbank
Lifeline Foundation|||4,643|
|Hands Around the World|||5,000|
|Malta Aviation
Museum
Foundation|||4,700|
|Richmond
Foundation|||18,503|
|Students
Education Trust|||15,000|
|The Inspire Foundation|||2,756|
|StJohn Ambulance|||20,000|
||||83,932|
|~Reli ion||||
|All Saints Church, Teversham|||10,000|
|The Norfolk Churches Trust|||10,000|
||||20,000|
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|DONATIONS TO CHARITIES BYCHE|UE OR BANK TRANSFER||
|---|---|---|
|Social Welfare|||
|Builders Benevolent
Institution||5,000|
|King's Lynn Debt Centre||5,000|
|Wellspring
Family Centre||5,000|
|||15,000|
|||263,932|
|CHARITIES AID FOUNDATION||25,000|
|THE RECULVER TRUST||10,000|
|TOTAL DONATIONS
FOR THE YEAR||298,932|
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|DONATIONS TO REGISTERED CHARITIES|DONATIONS TO REGISTERED CHARITIES|DONATIONS TO REGISTERED CHARITIES|DONATIONS TO REGISTERED CHARITIES|VIA CHARITIES AID FOUNDATION||
|---|---|---|---|---|---|
|Grants were paid to the following|||institutions:|||
|Child and Youth||||||
|Marks Hall Estate|||||2,500|
|The Ekklesia Project|||||2,000|
||||||4,500|
|Cultural
and Environmental||||||
|British Trust for Ornithology|||||2,500|
|The Ware Museum
Trust|||||3,000|
|The Worshipful
Company of Information||||Technologists|2,000|
||||||7,500|
|Health and Medicine||||||
|Headway
Norfolk &Waveney|||||3,000|
|Musical
Keys|||||2,850|
|Noah's
Ark Children's
Hospice|||||1,000|
|St Clare Hospice|||||4,000|
|Thames Valley Air Ambulance|||||3,000|
|The Air Ambulance
Service|||||1,000|
||||||14,BSO|
|Social Welfare||||||
|Choppin's
Charity|||||500|
|North Norfolk Community|Transport||||4,000|
|Snitterheld
Village
Hall|||||3,000|
||||||7,500|
|Total grants made via Charities||Aid|Foundation||34,350|
|CHARITIES AID FOUNDATION -||SUMMARY||||
|Balance held as at 6April 2020|||||17,740|
|Payments to Charities
Aid|Foundation||||25,000|
|Account charges|||||(56j|
|Grantcheques|||||(34,350)|
|Balance as at 5April 2021|||||8,334|
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|FUTURE COMM|ITMEN|TS||||||
|---|---|---|---|---|---|---|---|
||||2021|2022|2023|2024|Total|
||||E|E|E|E|E|
|Commitments|brought|forward||||||
|at 6April 2020|||64,500|20,000|15,000||99,500|
|Commitments|paid during the year||(59,500)||||(59,500)|
|Deferred|||(5,000)|5,000||||
|Commitments|added during the year|||10,000|10,000||20,000|
|Commitments|carried|forward at 5 April 2021||35,000|25,000||60,000|
|Overseas commitments||||612,000||||
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|10.|FIXED ASSET INVESTMENTS|Unquoted||||||
|---|---|---|---|---|---|---|---|
|||Investments|Quoted Investments|||Cash held in||
|||Trustees'|Quilter|Barrett &||Capital||
|||Names|Cheviot|Cooke||Accounts|Total|
||||E|E|||E|
||Market value at 5April 2020|2,553,250|3,947,226|3,976,554|'|527,795|11,004,825|
||Disposal proceeds||(303,330)|(490,161)|||(793,491)|
||Add; acquisitions
at cost||331,819|689,133|||1,020,952|
||Investment
gains/(losses)|(102,130)|458,628|544,973|||901,471|
||Movements
in cash|||||(276,602)|(276,602)|
||Market value at 5 April 2021|2,451,120|4,434,343|4,720,499||251,193|11,857,155|
||Historic cost at 5 April 2021|508,492|3,501,124|3,553,387|||7,563,003|
||Historic cost at 5 April 2020|508,492|3,382,174|3,365,378|||7,256,044|
||||Unquoted|||Cash held||
|---|---|---|---|---|---|---|---|
||||Investments|Quoted Investments||within the||
||||Trustees'|Quilter|Barrett &|Investment||
||||Names|Cheviot|Cooke|Portfolio|Total|
||||E|E|E|E|E|
|Investment|assets|in the UK|2,451,120|2,922,411|3,614,619|251,193|9,239,343|
|Investment|assets|outside the UK||1,511,932|1,105,880||2,617,812|
||||2,451,120|4,434,343|4,720,499|251,193|11,857,155|
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|||||M|arket Value|
|---|---|---|---|---|---|
|Name||||Holding||
|Eskmuir Properties||Ltd||291,800ordinary shares ofE1|2,451,120|
|The Diversified|Property||Fund for Charities|1,649,725 units|2,089,542|
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||||2021|2020|
|---|---|---|---|---|
|Dividends|due||3,518|471|
|H M Revenue||&Customs||114|
||||3,518|585|
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|CASH A|T BA|NK||||
|---|---|---|---|---|---|
|||||2021|2020|
|Bankaccount||||180,852|184,566|
|Money|manager account|||625,201|553,395|
|Stockbrokers'||income accounts||||
|-Quilter|Cheviot|||449|1,193|
|-Barratt|gr Cooke|||2,017|2,212|
|||||808,519|741,366|
|LIABILITIES:||AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|||||2021|2020|
|||||6||
|Accountants||||6,440|6,554|
|Auditors||||2,580|2,520|
|||||9,020|9,074|
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|Unrestricted
funds at 5 April 2021com|prise the following:|||
|---|---|---|---|
||Expendable|Income||
||Endowment|Account|Total|
|Investments|11,857,155||11,857,155|
|Cash|155,965|652,554|808,519|
|Debtors||3,518|3,518|
|Creditors||(9,020)|(9,020)|
||12,013,120|647,052|12,660,172|
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
|Net movement
in|funds (as per the|Statement|||of|Financial Activities)|922,470|(636,147)|
|(Gains)/losses
on investments
shown|||in|investing||activities|(901,471)|800,894|
|Deduct investment|income shown|in|investing||activities||(359,019)|(404,385)|
|(Increase)/decrease|in debtors||||||(2,933)|(471)|
|(Decrease)/increase|in creditors||||||(54)|120|
|Net cash provided|by (used in) operating|||activities|||(341,007)|(239,989)|