THE CALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRUST ACCOUNTS FOR THE YEAR ENDED 31" AUGUST 2020 (Registered Charity Number 289971) 'I'HE LALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRu%r Annual Report and Accounts For the year tnded 3 i*l August 2020 Trustee, Officers and Advisers Trustee Bonktrs Barclays Ple UK Ilanking rDrwrA¢+ l>tyly'. I'ht (ioYcrncirq,'I'h¢ Head Ma%ter and the Lower Masltr of fhl King's S¢hool of tht Caihedral Chiirch of LanitrbLiry in tht City of fantc'rbury London El4 511P In¥Thi¢p J07Q12) Auditor5 Alliutts LLP Pr￿TY c.ourt 15-21 High Street Guildford Surrl'y GU I IDI. Invi'mtment ManagerB 'I'he King's SchoL)I, Canierhury 1011 St l)aul's Churrhyard l.()ndon Fl-.4M 8BLI OfiTicer HU￿[Jr*rY TrtAN11￿r & CltvlK to M R'l aylnr l.'RbA Eiq (Huriarl Solicitor kys & Matighan 57 Quee.ii Siri'.ei Ram¥bi3ie K¢nl (."I'1 I YEI Krni C.'I'12F.'S Page I THE CALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRUST Annual Report oftbe Trustee For the year ended 31" August 2020 The'l rustce. presents its ant)ual rtport ftsr the yt.ar vndcd 31st Aususi 2020 under the f,haritie8 Art 2011. to8ethe.r with t￿. auditcd accounts for thc ycar and confirms that the lattcr comply with the requJre.mrnt5 of thc Act, thc-Iru5t l)ccd and thc CharitlC5 FR5102 SORP. Reference and Administration Information Thc Cilvirt & Rose G Hoifm*n Marlowe Memorial Trust js a registerod tharity Ir¢gi$tration hurnb¢r 189971). The Trust cstablished by a tru$t doed on I" May IY84. "ltst'l rustee, cx¢¢uti¥¢ officer and the prinripl addrcyses ofthe Charity arc list¢d on page I together with p•rti¢ular¥ of the Chirity proF¢$gional advis¢r$. Structure, Governance and Management Urganisation The (ioverni>r8 olThtr. King'y School. Cinterbury. who wllectively act￿ the Truiiee., Iht. ove.rall JK>lit.y for the. runttlN%afthc'l'n]it in ar.cnrdance. with its objects and lor the puhliL' bLnL,fii. The HeAdmastÈr nf The King'$ &kn)I mtht.s re.rnmmcndation5 to thc I rusiee as rcRard% e.duc.atirtrnal mAller% and condidatL's l()r the Htsffman %rholarthips. The Holfm*tt Prl%e li aWaTdrd by the-l rustec of The Kin8'$ ￿[￿?1, Thnterbury on iht reromme.J)dèil¢Jn *fan Indeptndtnt adludl(4tvr. T)Jr l.'Irrk f11￿p￿)llylb1C lor th¢ diy ID day mana¥cmcnt ol'thc TrusL'I Invr.slmtnt* and lor pri'pJrin% thi'.'fruxl's aLr.¢)unti. InveNtment powcr 'I'￿'$t arl guv('In¢d by Ihe'l'rustre At.t 21XX). Stratcgic inveslmenl pnlir.yls xet hy thi.. GuvL'rnor5 In L'onjuni*iuTh with S•ra%in & Sjartneri LLP, the.%c.hool'% InV¢'&tm¢'nt managir, who thrn mana¥L' the inve%lmenls within prrq('.rihed xuide.linf y on a di￿Tf.11￿narY ha&lY. ('urrrril Invi4Ytm¢nt ObjLctive i* tr> proitrt the rcal valuc of Income and capital whil¥t ypr¢idin8 riyk. No invf.stmi'nl% in thL' toh¢ro iThdu4lry may he niadi.. l)urin¥ the 12 munthy 10 51￿ Au&u%i 2Q2Q, thL'I'ru¥r'$ inveithie.nil priiduird a ¥rv¥o yicld of 3.25% againyt thc bcnLhrnark of 3%. Th¢ cJVVL￿rnUr￿ rimain ¢Dnfidtni tha¢ thelr Inyrsttncnt ￿lICY 18 prudent, In keepinK with thi'ir invL'&tmLnt ()bji'.(.'tIVL'% and likL.ly to prducL' attraLtri¥L￿ rcturn$ over thr liin8L'r tCTIII. -I'hc inv¢strncnt¥ arc hcld as p•ri ora c()Il¢c'.tivc pool idmlnlsiprt.d hy Thc King'5 SdJool, CaThtcrbury. Scholarihipj and grants I'he 2011) Prklt i£1.5.4(K)I wai awarded to Dr R Niu%hnanc'5 CSSIY. I'￿ SLholarship awardcd for the year 2019120. The Essay Award wa5 not awarde.d. Connected Charity 'lThc'l'rust is considertd to he a.iuhxidiary t>f th¢ ('hiriiy Yhp lltnan Matluw¥ Memurial 'l'ru51 inlo lho￿. f>l'Thc K¢Trg's School, Lanterbury. Page 2 THE CALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRUST Annual Report of the Trustee For the year ended 31" August 2020 Objects, Aims, Objectives and Activitie8 Within the objectives of the Charity th¢'l-rustet. ha5 given careful ¢on$idtr*tinn to the ('harity Comrni5sion's Rt.t)t.ral Kuidancr on publit ￿.￿Qfil. in partlcular to its supplemontary public bcncfitguidancc on ady4nr.ing cducation. The objectives ofthe Charity are.. l o promote and trttCQUTage Inve.stigative researth inra the life and work5 of Christophtr Matlowe, and lThts) the authorship of the p(Jrrns and plays nvw commo¥nly attribultd io William ￿hake¥￿are ¥viih prticular rtgard iu diL' P)Ysibility that Chri5tDpher Marlowe wri?Iv JDtnc or all Ill- those POrm¥ and play¥ ur made Some Inspiratiunal creaiive or c()rnpu¥itional coThtribulion$ towards thr auihor5hLF afthem. Ag a ￿)￿se911+.11r.tr a PriTE, a Scholarship and an Award have bÈtn c¥tabli5hed. Thr Tru$t l)¢ed 9ptr(.'ifir.¥ that incornc. gvnerated from *$$eis held by the Trust shL)uld be allo¢aLEd ID the followlng manner.. l) Advi'rti¥ing the Prlxe should represcnt nol le&s than I0¥0' 2) 'I'hc Pri/.e sh¢Juld rLPY¢Stn¢ nDI IL'5¥ than 4tWu', 3) 'rhe ScholAr%hip. Aw•rd and adminisiration should nut rLprcsrtLt morc than S(Ylo. Financial Review and Results for the Year 'rhe net movemenr In fundy wa& LS1,96012019.. L4U,2501. -I'ht Trust's policy is lo ensure thii avilliblv. rr.yuurcrs arc used to Further ihL' objeci8 01'th¢ I'rust. Risk asse¥Jmtnt I￿l..1 rusiee. h*N undcrtaken a rilk asx'$¥meni rt.vl¢w. Rl%k ax%eyimeni Is a Jianding aRenda iti'.m foT meetings ofthe-l'rvstee. ReyLrvL'II 'I'he re5rrYcx of thc Charity ¥e re8trlded th4t tknir u¥c i8 iubje.ct lo a 3￿clAC trust. tie5L'rves ￿11¢Y 'I'h¢ 'l'ruJtei' 1% Fullowing polirir.s intcnded li> maintaln thc re￿r¥C.1 a¥ailablL' to fund yi.hvlar5hipJ and granly. 'I'hL I'rugiee tXJnxid¢ thal th¢ Lharliy g rr¥trictcd fund hai adcquiie. re.xt>urL¢$ io mrrt its ubligaLii)nx. Accounting and Reporting Re$pon8ibilitics Chority law r¢quirt? the Tru.41¢'L' to prepre linanLial Xiati+m¢ihlJ for C￿..h financlDI yeAr, which Rlvt i trur and14ir vicw of thv. alFairs or thL' Choriiy and f thi f.harlly and tc enable to enlurp. that the finanr.ial statcme.nl.I rnmply with rhariiy law. 'I'hc'l ruslee is alyo res￿nSIh1e f4)r ¥l¢gu*rding Ihc a55Cts ofthe Chariiy and hcn(r for taking rcasonable 9tr￿ lor the prrvrntic>n ind dL'tcction tjl. Iraud f>r irregularltlL's. l December 2020 Approved hy thv'fruytre gfthe Calvin & and %igned on lis bthall'by.. Y. C, I lolFman Marlowe Memorial Trust on . I'he Very Revvrend l)r R Wlllig On behall"(Jfthe'l rustee Page 3 THE CALVIN & ROSL. G HOFFMAN MARLOWE MEMORIAL TRUST Indepettdent Auditors Report For the year ended 31" August 2020 Opinion We ￿ve audited the finanLial statemcnts of l-he Calvin & Rosc G HolTman Marlowe Mettkorial'l rust for t￿ year ended 31 Auyst 2020 wkn.ch comprise InLume and Expenditure ALLount, the Balance Sheei and the related notes. The finanLial rLporting framework that been applicd in their preparation is applicablL law and United Kingdom Accounting Standards, induding Financial Reporung Standard 102.. '11)c Financial Rcporting Standard applicable in ihe UK and Rtpublic of IrLland Iunitrd Kingdom Generally Accepled Accounting Practice). In our opinirjn fLnanLial ytatements: ve a true and fair view of the state of the Lhariiy's aifairs as at 31 Auxust 2020 and uf its inwme and expenditure for thc year thLn Lnded. have beLll prowly prepared in accordance with United Kingdom Gcnerally Accepicd Accounting Practitt. and havc been prepared in accordancL' With thc rcquircmcnts of thL Charitie$ Act 201 I. Bayis fur uibinion WL conductcd our audit in accordancc wilh International Standard5 on Auditing (UK) {ISAs IUKII and applicable law. ()ur responiibilitics undLr thu¥L 8tandardJ ar¢ lurihrr deyuri￿d in the Audilor'5 rc5ponsibililic¥ for Lhc audit L)[ the fLnanLial 8talemenLs 8eciion of our rep()rt. W¢ arc independcnl ol. thc Lharily in acLx)rdanLL' with thL Ctkn'Lal requirements that are relevant to our audit of t￿. fLnanLial ¥tatemcntJ in the UK, including the FRC'S Ethical Standard, and WL, havL. fuifillrd our other ethJ'Lal reiptsnsibilities in attordanLe with thcse requirements. We helieve that the audit evidence we have obiained 5¥ sunicient and apprt>wi*te to provid¢ * bayi3 for our opinion. C1>ncluiir>n￿ relating to ¥olng conccrn We havL' nothin¥ lu report in re5PCrt of ihc fulluwing matters Ln rclalion lo whL'Lh the ISAS (UK) require us to report to ytju where: thc TruJtee'N uae of the going conLcrn hasi¥ ol. accnunling In thc preparation ol thc finanLial ¥tatementi li nr)t appropriaLL' ur Ihc Tru¥tee ha% ni)¢ discloscd in the fLnancial siaiemenis any identified tnaterial unLYrtainlie4 that may ca¥t $ignilicant doubt abL)Ut the Lharily'J akn'lity to coniinue to adopi ihc going LonLrmation. The other informatiuii cumpriyes the infurrnaliun inLluded in t annu•l repori, othL'r Ihan th¢ finanLial %lalcniLnts and our auditor'8 report iherton. Our upinion on i￿. financial ytatements dnc¥ not covcr ihc othLf inlormation and, cxeept to t￿ extent othcrwi3c cxplioily $talcd in our rcporl, wc do nL)t expre%% any form nfajsurance conclu¥i¢)n therei)n. In connection with our audit of thc rtnanoal $tdtcrnenLg, nur re3pon8ibility IS to rcad the other informalion and, in doing SL), t￿n￿lder whether Lhe othcr infUr￿latio11 is materially inLofLSlStvnt with the fjnancial 4tatement5 or our knowlcdge ubtained in the audit or otherwise apw8 tn bc matcrially misstated. If we identify such material inLonsi%tencics or apparent material m13statement￿, wc arc rcquirL.d trj dcte.rminc whLthcr ihtre is a material mi¥*tatement in the finanLial staicmcnts ur a malerial mi¥statemrnt ol. the other information. If, based on ihe work we have performed, we LX)nLlude that there 1$ • materlal mLSSt&tetnent ￿tki4 othcr information, wc are required to rtprt that fact. We have nOth￿g io report in this regard. Pagt 6 THE CALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRUST Independent Auditors Report For the year ended 3111 August 2020 Matters ot) which we are rcquired to report by cxctption In the light of the knowledgc and understanding uf the company and Lts environment obtained in the courye uf the audit, we have nut identified rnateriai misststem¥nts in the Trustee's Annual R¢port. We have nothing lo report in re$peL￿ tsf ￿ following matters where the Charities Act 2011 requires us to reporc to you ir, in our opinii)n: ¥uTricicnt accouniing recurds have nui been kepl. tsr the financial 51atcmeT5ts are nol in a￿etme￿I with the aCl￿unting recurds and return¥. or we have not reLeived all i￿urmatiOn and explanaiiony wc require laiis ol'ihese fLnxn¢i#l ¥14t¢mcnt¥. A lurLhL'r desLTLPILon ol. uur rc5ponsibilities for the audit ol. the financial itatements 18 IoLated on the Financial Repc)rting Council's website at.. h¢tp'.l /wwW.frc.org.uk/auditor8rcy￿niI￿IIltI¢a..I-￿.S de8trlption form¥ part vf our auditor'2 rep)rt. '11)i$ r¢p()rt li made solely tn the Lharity's'l'ruslcc, il¥ a hndyi in aLLnrdanLe with yecliun 145 ofthe Lharitits ALt 2011 and rcgulatiuEL4 madc undcr seLtion l 54 ul. that act. Our audii work ha3 bccn underukcn 51) tknt we might $tate to thc Charity'8 Trustee those maL(cr3 we are rcquircd io 8talc lo the'l'rusice in an audJL(>r'i repnrl and lor nu uther purpoJc. 'I'o tht lullest cxtcnt pcrmitted hy law, d(} acccpt ()r as2urne responsibility to anyone other than the Ciwity'N Trustce a$ 4 kndy, fnr nur audil wurk, for thi.s report, or For ihe opinions we havc formed. Allivlts LLP... ChartCTed AccounLints Statiitory Auditvr riary Couri 3 21 High street Guildford Surrey GUI 3DL 14 December 2020 AIIi0tts LLP is eligible to act as an Auditor in ternis of Section 1212 of ih¢ Companies Act 2006. Page 5 THE CALVIN & ROSE G HOT.FMAN MARLOWE MEMORIAL TRUST Income and Expenditure Account For the year ended 31" August 2020 ReStr1et¢d￿￿ffjd 2020 2019 INCOME FROM In￿m¢ frum ittve&menl POTifolLO Ini¢rrst on &postl hrtfolio- Saruln Market Value at Isi Septetther2019 903251 Investnrnt 88ti1g 44h37 M￿ke1 at 31st Ausu5t 2020 947J88 HislorK Cost 325J09 All invest￿rnt5 are lli Sarasin Alpha CIF for Endown*nt Ilnconr Units) [￿er$eAS uive5ttTrntS'. Uniied Kingdom ￿Vestn￿ts. 588,638 359,250 947,888 Page 9 THE CALVIN & ROSE G HOFFMAN MARLOWE MEMORIAL TRu%r Notes to the Accounts For the year ended 31" August 2020 4) Debtors 2020 2019 Depostt h¢ld with The Kin8'$ School, C4ntcrbury 142 138,369 138.369 142021 5) Credltori 2020 2019 Audit fees Adjudicatovs fees Lit¢rnry prizc Scholarship 9711 3,000 12 J25 3J96 20J91 960 3,(K)O 15.400 3.896 6) Fln4ncl41 cornmltments There were no other financial commitments as at 31* August 2020 7) Reitrlcted Funds Balance lit Septembtr 2019 Tinglblt A¥$et Re￿1￿1110￿ Bal*n 31st August 20211 Inv¢$tment Income pendltwr¢ Designated reserves .OIB.358 31.28J (23,9621 44.637 ,07fj318 8) Covld 19 1rnpa¢t The worldwide outbreak of the coronavirus pandemic {Covid-19) hBs caused extensive disruptions to organisations lobally with major implications for operation5 as well as finances. The Trustee acknowledges and re¢ogrt15es the impact of the Covid-19 par]demir on the operation5 of the charity, its beneficiaries, p8Jtr¢rs. siakeholder5 and on the wider society. and ha5 cnsured that both resources and process￿ are in place w mitigate any di5niption to the operaiions of ¢h¢ charity Page 10