2021-04-30-accounts - Snowdon Trust

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Patron		Baroness (Tanni)	Grey-Thompson	Grey-Thompson	Grey-Thompson	DBE
Vice Presidents		The Rt Hon Baroness		Masham	of llton
		Sir Evelyn de Rothschild
		Andrew Farquhar
		Sir John Hannam
Trustees		Dr Renny Leach (Chairman)
		Dr Paolo S Dasgupta
		Lady Frances Von Hofmannsthal
		Anji Hunter
		Dr Richard Lansdown
		Lord (Colin) Low of Dalston CBE
		John Milligan
		Dan Norris
		Dr Wendy Piatt
		Simon Preece
Chief Executive Officer		Paul Alexander (retired 31 December 2020)
		Helen Saelensminde		(appointed		20 October 2020)
Charity number		282754
Principal	address	Unit 18
		Oakhurst Business Park
		Southwater
		Horsham
		West Sussex
		RH13 9RT
Auditors		Knill James LLP
		One Bell Lane
		Lewes
		East Sussex
		BN7 1JU
Bankers		National Westminster		Bank Pic
		47 Carfax
		Horsham
		West Sussex
		RH12 1YZ
Investment	advisors	Cazenove Capital	Management
		(part ofSchroders	Group)
		1 London Wall Place
		London
		EC2Y 5AU

		Page
Trustees' report		1-8
Statement ofTrustees'	responsibilities
Independent auditor's	report	10-12
Statement offinancial	activities	13
Balance sheet		14
Statement ofcash flows		15
Notes to the financial	statements	16-28

			Unrestricted	Designated	Restricted	Endowment	Total	Total
		Notes	funds	funds	funds	funds	2021	2020f
c efom
Donations and
legacies			128,569		71,604		200,173	301,240
Fundraising events			8,012				8,012	14,033
Investments			107,517				107,517	113,586
Total income			244,098		71,604		315,702	428,859
I u
Raising funds			47,851	686			48,537	41,524
Charitable activities		6	182,624	254,632	70,079		507,335	752,298
Total resources
expended			230,475	255,318	70,079		555,872	793,822
Net (loss)/gain	on
investments			77,858	232,953			310,811	(151,557)
Net movement	in funds		91,481	(22,365)	1,525		70,641	(516,520)
Fund balances	at 1
May 2020			273,410	2,232,436	21,076	293,621	2,820,543	3,337,063
Fund balances	at
30April 2021			364,891	2,210,071	22,601	293,621	2,891,184	2,820,543

				2021		2020
			Notes
Fixed assets
Tangible assets			11		201,321	206,548
Investments			12		2,327,596	2,017,064
					2,528,917	2,223,612
Current assets
Debtors			14	23,133		25,962
Cash at bank and in		hand		600,023		918,909
				623,156		944,871
Creditors:	amounts	falling due within	15
one year				(260,889)		(343,950)
Net current	assets				362,267	600,921
Total assets less current liabilities					2,891,184	2,824,533
Creditors:	amounts	falling due after	16
more than	one year					(3,990)
Net assets					2,891,184	2,820,543
Capital funds
Endowment	funds		18		293,621	293,621
Income funds
Restricted funds			19		22,601	21,076
Designated	funds		20		2,210,071	2,232,436
Unrestricted	funds				364,891	273,410
					2,891,184	2,820,543

				2021
			Notes
Cash flows from operating		activities
Cash absorbed by operations			23		(425,720)		(331,443)
Investing	activities
Purchase	oftangible fixed assets			(685)
Proceeds	on disposal of investments					402,429
Investment	income			107,517		113,586
Net cash	generated from investing
activities					106,832		516,015
Net cash	used in financing	activities
Net (decrease)/increase in		cash and	cash
equivalents					(318,888)		184,572
Cash and	cash equivalents at beginning		ofyear		918,909		734,336
Cash and	cash equivalents	at end of	year		600,023		918,909

						Unrestricted	Unrestricted
						funds	funds
						2021	2020
							E
Fundraising		income -	London Marathon			8,012	14,033
investments
						2021	2020
Rental	income					15,646	15,388
Income	from	listed investments				91,789	96,932
Interest	receivable					82	1,266
						107,517	113,586
For the	year ended 30April 2020
Unrestricted		funds					113,586
Raising	funds
				Unrestricted	Designated	Total	Total
				funds	funds	2021	2020
					F	F
F ndrai	in	ex ense	and other costs
Fundraising		and publicity		24,066		24,066	19,952
Staff costs				19,010		19,010	15,177
Depreciation		and impairment		496	686	1,182	1,155
Support	costs (see note 8)			4,279		4,279	5,240
Fundraising		expenses	and other costs	47,851	686	48,537	41,524
For the	year	ended 30April 2020
Fundraising		expenses	and other costs	40,728	796		41,524

				2021f	2020
Staff costs				64,320	51,118
Depreciation		and impairment		4,731	4,620
Scholarships		awarded		249,901	417,220
				318,952	472,958
Grant funding		ofactivities (see note 7)		111,750	224,451
Share of	support costs (see note 8)			71,113	48,965
Share of	governance		costs (see note 8)	5,520	5,924
				507,335	752,298
Analysis	by	fund
Unrestricted		funds		182,624	255,452
Designated funds				254,632	421,840
Restricted	funds			70,079	75,006
				507,335	752,298
Grants payable
				2021	2020
				f
Grants to	organisations			8,000	7,000
Grants to	individuals			103,750	217,451
				111,750	224,451

Support	costs
		Support	Governance	Total	Total
		costs	costs	2021	2020
		F		f	F
Staff costs					137
Other costs		75,392		75,392	54,068
Audit fees			5,520	5,520	5,400
Trustee meeting expenses					524
		75,392	5,520	80,912	60,129
Analysed	between
Fundraising		4,279		4,279	5,240
Charitable	activities	71,113	5,520	76,633	54,889
		75,392	5,520	80,912	60,129

The average monthly number ofemployees during	the year was:
	2021	2020
	Number	Number
Charity staff
Employment costs	2021	2020
Wages and salaries	78,214	61,992
Social security costs	2,826	1,920
Other pension costs	2,290	2,385
	83,330	66,297

Tangible	fixed assets
			Land &	Fixtures,	Total
			buildings	fittings &
				equipment
Cost
At 1 May	2020		270,832	18,034	288,866
Additions				685	685
Disposals				(792)	(792)
At 30April 2021			270,832	17,927	288,759
Depreciation and impairment
At 1 May 2020			65,001	17,316	82,317
Depreciation charged		in the year	5,417	496	5,913
Eliminated	in respect ofdisposals			(792)	(792)
At 30April	2021		70,418	17,020	87,438
Carrying	amount
At 30April	2021		200,414	907	201,321
At 30April	2020		205,831	717	206,548

Fixed asset investments	Fixed asset investments
							2021	2020
Listed investments							2,327,596	2,017,064
Movements in fixed asset			investments
							Securities	Total
Cost or valuation
At 1 May 2020							2,017,064	2,017,064
Valuation changes							310,811	310,811
Adjustment in respect of		investments		held as		cash	(279)	(279)
At 30April 2021							2,327,596	2,327,596
Carrying amount
At 30April 2021							2,327,596	2,327,596
At 30April 2020							2,017,064	2,017,064
Permanent endowment		invested		on total return basis
The investments above	include those invested					on a total return basis:
							2021	2020
Trust for investment brought			forward				293,621	293,621
Market value of endowment			fund brought		forward		366,440	394,539
Unapplied total return	brought forward						72,819	100,918
Income in the year							16,675	16,658
Capital (loss)/gain in the		year					56,415	(28,099)
Total return in the year							73,090	(11,441)
Market value ofendowment			fund carried forward				422,855	366,440
Unapplied total return	carried forward						129,234	72,819

13	Financial instruments	Financial instruments					2021	2020
	Carrying amount of	financial assets
	Debt instruments measured		at amortised	cost			600,118	921,869
	Instruments measured	at fair	value through		profit or loss		2,327,596	2,017,064
							2,927,714	2,938,933
	Carrying amount of	financial liabilities
	Measured at amortised cost						258,572	346,275
14	Debtors
							2021	2020
	Amounts falling due	within	one year:
	Other debtors						95	2,960
	Prepayments and accrued income						23,038	23,002
							23,133	25,962
15	Creditors: amounts	falling	due within	one		year
							2021	2020
	Other taxation and social security						2,317	1,665
	Other creditors						224,878	331,986
	Accruals and deferred	income					33,694	10,299
							260,889	343,950
16	Creditors: amounts	falling	due after more			than one year
							2021	2020
	Other creditors							3,990

			Movement	in funds
		Balance at 1	Incoming	Resources		Balance at 30
		May 2020	resources f	expended	f	April 2021
Permanent	endowments
Bridget's Trust		293,621				293,621
		293,621				293,621

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			Unrestricted	Designated	Restricted	Endowment	Total
			funds	funds	funds	funds
			F
Fund balances		at 30April 2021
are represented		by:
Tangible	assets		908	200,413			201,321
Investments			1,473,773	560,202		293,621	2,327,596
Current	assets/(liabilities)		(1,109,790)	1,449,456	22,601		362,267
			364,891	2,210,071	22,601	293,621	2,891,184

					2021	2020
	Aggregate compensation				50,578	39,295
	There were no transactions with related	parties during		the year.
23	Cash generated from operations				2021	2020
						f.
	Surplus/(deficit) for the year				70,641	(516,522)
	Adjustments for:
	Investment income recognised in statement		offinancial	activities	(107,517)	(113,586)
	Fair value (gains) and losses on investments				(310,535)	151,557
	Depreciation and impairment oftangible	fixed assets			5,913	5,775
	Movements in working capital:
	Decrease in debtors				2,829	12,784
	(Decrease)/increase in creditors				(87,051)	128,549
	Cash absorbed by operations				(425,720)	(331,443)
24	Analysis ofchanges in net funds
	The charity had no debt during the year.