THE ALAN AND BABEThE SAINSBURY CHARITABLE FUND ANNUAL REPORT & FINANCIAL STATEMENTS 5 APRIL 2022 THE PEAX 5 WILroN ROAD IONDOH SWIV IAP THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 CONTENTS PAGE Reference and Admlnlstrative Detalls Report of the Trustees 3-10 Independent Auditorfs Report 11-14 Statement of Financial Activities 15 Balance Sheet 16 Cash Flow Statement 17 Notes to the Account 18-25 Appendix 26 Report and Accounts-s Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 REFERENCE & ADMINISTRATIVE D￿AlLs The Alan and Babette Sainsbury Charitable Fund INO. 2929301 was established under a Trust Deed dated 14 July 1953, and became a registered charity on 12 November 1985. Trustees M5 Lindsey Anderson Mr Julian Sainsbury Ms Jessica Sainsbury Re8lstered The Peak 5 Wilton Road London SWIV IAP Principal Offlcers Mrs Karen Everett Ms Thrlsh8 Haldar Chief Executive ofFi￿r Executive All the Prinupal Officer5 are employed on a part-tlme basls. Bankers Royal Bank of Scotland 119- 121 Victoria Street London SWIE 6RA Sollcltors Portrart 50licltors 21 Whitefri3r5 Street London EC4M 7JW Audltor Sayer Vincent LLP Invicta House 108- 114 Golden Lane London ECIY OTL Investment Advlsers Schroder & Co knmited 102 Moorgate London EC2R 6DA Report and Accounts- S April 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES The trustees present their report and the audited financial statements for the year ended 5 April 2022. Reference and admSnlstrative information set out on page I forms part of this report. The financial statements comply with current statutory requirements, the Trust deed, and the Statement of Recommended prartI￿-ACcountln8 and Reporting by Charities- SORP applicableto charitie5 preparing their accounts In accordance with FRS 102. Oblectlves The objects of the Trust as given In the Trust Deed, are for such charitable purpose at suth time or times and in such manner as they may from to time decide. Pollcles During the year the Trustees considered proposals under the followlng Categories: Civil Liberties and Communlty Relatlons Jewish and Israeli Causes Overseas Stientific and Medical Research Youth Work General The Trustees concentrate their resources on a small number of categories which build on themes from the Trust's earlier grant-making. Proposals are likely to be invited by the Trustees or Inltlated at thelr request. Unsolicited applications are unlikely to be Successful. Grants are not made to individuals. Charltles and Public Benefit Trustees are aware of the Charity Commission guidance on Charity and Public Benefrt and confirm that they have complied with the duty In Section 17 of the Charities Act 2011 to have due regard to it. They consider the full information which follows in this annual report, about the Trusys aims. activities, and achievements In the many areas of Interest that the Trust supports demonstrates the benefit to its beneficlarles, and through them to the public, that arise from those activities. Re¥lew of the Past Year During the year the asset value of the Trust increased from £17,350.038 at 5 April 2021 to £18,198,668 at 5 April 2022, an increase of 4.9%. The net unrestricted income of the Trust for the year after charging support costs was £412,293. an increase of £34,139 on the previous yearfs figure of £378,154. Report and Accounts-5 Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES Icontlnued) The Trust has adopted a total return basls to budget for Its annual Income. The endowment assets of the Trust remain significant. and the Trust will continue to pay out to its beneficiaries in accordance with the Trust'5 objects. The Trustees met twice during the year to make grants. Reserves Pollcy and Goln8 Concern It is the Trustees, pollcy to approve grants for payment over a period of years, subject to certaln conditions over the life of the grant. Those expected to be paid within tsyelve months of the year- end are accrued in the accounts, whilst those grants due to be pald after thls date are not accrued. The latter are referred to in note 4 to the accounts and amount to £nil12021: £nill. They represent funds earmarked for continued support to certain existing grantee-partners where formal commltments have been made but the conditions had not yet been met at the balance sheet date. Cash flow projections for income and expenditure are regularly revlewed to ensure that the level of avallable reserves is adequate and that the Trust is in a position to meet all Its commitments. The Trustees consider that, when possible, it is appropriate to hold funds. both to meet the 5hort-term worklng capital needs of the Trust and in anticipation of the potentlal payment of subsequent grant instalments. In the unlikely event that the Trustees find themselves unable to meet current cornmitment5 from the future income. they would be willlng to draw on the expendable endowment in order to meet those commitments, as they see fft. As at 5 April 2022. the Trust held total funds of £18,198.668 12021.. £17,350,038) including expendable endowment funds of £18.CQ3,982 12021: £17,162,884). The trustees are not aware of any material uncertalnties that would prevent the financlal ststements from being prepared on a going concern basls. Investment Polky Trustees meet wlth thelr Investment manager5 twice a year to discuss investment strategy and also to seek to ensure that the Trusys Income reqU1￿MentS are met. and that long term capftal growth Is in line with relevant indices. The Trustee5 normally hold Investments for the long terni. The Trust Deed empowers the Trustees to appoint investment advisers who have discretion to invest the fund5 of the Trust within guidelines establlshed by the Trustees. Report and Accounts- S April 2022 THE ALAN AND BABErrE 5AINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES (continued) Rlsk Assessment The Trustees have examined the major strategic, business, and operational risks to which the Trust may be exposed. Through the joint offlce ot the Salnsbury Family Charitable Trusts, adequate systems are in place to meet such potential ri5k5 as the Trustees have Sdentified. such as maintaining and reviewing an operational risk register on a quarterly basis. The Trustees continue to be vlgilant and to keep processes under review. The Trustees identified the uncertainty of financial return5 to tonstStute the Trusys majorfinancial risk. This is mitigated by having a diversified financial portfolio under the management of a major Investment house. The Trustees regularly review the investment5 Strategy and monitor flnanclal performance. They also operate a grant distribution formula which helps to ensure the stability of resources available for grant awards in any given year. Trustees review risk on each application for fundlng. Includlng the financial health and governance of applicant organisations. Trustees are increasingly committed to supportin8 groups that are overlooked by donor5. which may Include unregistered charities. Trustees ensure that appropriate due diligence check5 are carried out by the Executive team before releasing funds. Risk mitigation approaches may include funding an intemiediary charity to hold funds on behalf of an unreglstered group. Organlsatlon The Trusvs Settlor, Lord Sainsbury of Drury Lane died in 1998. after which his son Simon Sainsbury guided the Trustees, decisions until his own death in September 2006. Slmon's brother Sir Timothy succeeded hlm as Chalrman until his retirement In November 2019. Ms. Lindsey Anderson, Lord Sainsburvs granddaughter. has taken up the role of Chair and together with the Trustee board seeks to ensure the Fund remains proactive and responsive to issues faced by marginalised groups, in keeping with the Settlorfs vlsS0n. The Trustees are aware of the Charlty Governance Code whlch sets out the princlples and recommended practice for good governance within the sector. The Charity has reviewed its governance arrangements against the prlncSples within the code and apply the principles of the code whilst maintaining its need to operate its governance efficiently. The Charity support5 an evidence based and lolned up approach to grant-making and to this end now openly publishes all its grant- making using the 360Gwing Data Standard, for use by other donors and potential grantees. The Trust is one of the Sainsbury Family Charitable Trusts which share a common administratlon. The remuneration of the senior staff lintludine key management personnel) is reviewed by the Trustees on an annual basls takSng Into account the requirement5 of their role and performance during the year. From time to time the SFcf Management Committee benchmarks pay levels against comparable positions in similar organi5ations. Report and kcounts-S Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES (continued) Trustees are appolnte(i by the exlstlng Trustees and are provlded with relevant Information and Inductlon Into their respofislbllltles as Trustees. The Trust and its Trustees are fully aware of the requlrements and duties set out in the Charities (Protection and Social Investment) Act 2016. The Trust does not undertake fundraisin8 from the general public and does not use professional fundraisers or commercial participator5. The income of the Trust is not bound byany regulatory scheme, and the Trust does not consider it necessaryto comply wlth any voluntary code of prattlce relatlng to fundraislng. We have received no complaints in relation to any fundraising activities. As we do not approach individuals for the purpose of ralslng funds, we (io not have speclflc requirements related to fundraising actlvitles, nor do we consider it necessary to design specific pro￿du￿S to monitor such activities. Future Plans The Trust SUPPQrts artivttie5 and organi5ation5 that align with the Settlorfs vision and wishes. The new Chair. in conjunttion with the board. is reviewing the portfolio of grantee-partners to ensure awards continue to be relevant and to make an impact* Particularly in the wake of Inequalltles exposed by Covid-19 and the climate crisis. Grants Approved Grants approved duringthe yearare analysed bynumber and byvalue In the categories set out below: Grants Approved Civil Liberties & Community Relations General Jewish & Israeli Cause5 Overseas Youth Work lincluding art & educatbonl Grand Total 145.000 25,500 90,000 75,000 80,000 415.500 21 Report and Accounts-s Apru 2022 THE ALAN AND BABE￿E SAINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES (continued) CIVIL LIBERTIES AND COMMUNITY RELATIONS-£145.000 The Trustees support projects which promote and protect civil liberties and community relations. Thls may include support for minority communitie5 or those seeking refu8e in the UK, as well as organisations working to promote the importance of human rights, free speech, and tolerance. Trustees prioritise organisations that work with individuals and communities with lived experience of the issues they are addresslng. rather than those carrying out national or International campaigns. Grants approved in thi5 category were a5 follt)WS: All Afrlcan Women's Gioup- £lS.000 To run self-help groups for women asylum seekers and refugee5 in asylum claims, access to housing and those facing destitution. Community Inf¢Sourc•- £30,OLK) Towards core costs. Coventry Asylum and Refugee Actlon Group- £lO,OIXI To support migrants and asylum seekers at risk of de5titutlon. Destltute Asylum Seekers Huddersfleld {OASHI- £15,IJ)D To be deployed by the organi5ation's leadership according to thelr needs and priorities. Natlons of Migratlons Awakenln8 the Dlaspora IN0￿01- £20,000 Towards core costs. Student Actlon for Refuzees- £15,000 Towards core costs. The Unity ProJert- £30XIOO Towards core costs. Women Asylum Seekers Together- £10,000 To support destitute asylum seekers. provision of food, parcels. and peer-to-peer support. Report and Accounts-5 Aprfl 2022 THE ALAN AND BA8ErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES (continued) JEWISH AND ISRAELI CAUSES- £90,000 This cate80ry continued to prioritSse Holocaust educatlon and dialogue and tolerance in schools and communities with diverse ethnicities, religions, and backgrounds. Harwlch Klndertransport Memorlal and LearnlngTrust Umlted- £5,rA)o Towards the costs of a Kindertran5POrt memorial in Hanvich. Natlonal Holocaust Centre & Museum- £ 5,000 Toward5 Its capital redevelopment. Solutions Not Sides- £40.000 Towards core costs. The Unklng Network- £40.000 Towards core costs. OVERSEAS- £75,000 Trustees, prioritised education and young people's employment and groups addresslng cllmate change in low to middle income countries. Grants approved in this category were: Adeso Afrfcan Development Solutlons- £5,000 Latin Arnerican online summit researching.how and why Internatlonal ald should change In the wake of the pandemic" Adeso is the Erant-holder-they will hol(i the funds on behalf of the NEAR Network. Ashden aimate Solutions- £20,000 Towards communications and engagement with tity leaders in Colombia and across Latin America to develop their own "Green Corrldors". Ashden Cllmate Solutlons- £50,000 Towards Its Humanitsrian Awards. Report and Accounts- S Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARrrABLE FUND 5 Aprll 2022 REPORT OF THE TRUSTEES (contlnued) YOUNG PEOPLE IN SOUTHWARK- £80,000 The Trustees support projects which help disadvantaged young people in Southwark to achleve their potential. The grant approved in this category was.. Bede House AssoclatlorF £10,000 Towards core costs. Communlty Southwark- £lO.000 Towards the salary of its Support Officer to minoritised community groups. 5oclal InnO￿tIon Partnershlp ITSIPI- £15,000 To pilot a young person led programme in Southwark. The Advocacy Afademy- £20.000 Towards core costs. Unlted St. Savlours. £25,000 Towards "One Southwarw, a collaboration between funders. buslnesses. and young people to lifting young people out of poverty in the borough. GENERAL- £25.51JO One grant was approved outside of the main ¢ategorie5 at the discretion of Trustees. Kentish Town Clty Fami- £25,500 Towards core costs. Race Equality Audlt and A¢tlon$ The Trust carried out a review of its grant-making and recruitment to reflect on how the Fund can be equltable In Its use of resources. Trustees agreed to update the Fund's web51te to update stakeholders on learning and progress. ReFQrt and Accounts- S Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARrfABLE FUND S Aprll 2022 STATEMENT OF TRUSTEES. RESPONSIBILITIES Law appllcable to charltSes In England and Wales requires the trustees to prepare financial statements for each financial year whlch glve a true and fair view of the ch8rity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and falr vlew, the trustees should follow best practice and: Select suitable attounting policies and then apply them Consistently Observe the methods and principles in the Charities SORP Make judgements and estlmates that are reasonable and prudent State whether applicable UK Accountlng Standards and statements of recommended practlce have been followed. subjett to any material departures disclosed and explained in the financial Statements Prepare the financial Statements on the golng concern basls unless it is inappropriate to presume that the charlty wlll contlnue In operation The trustees are responsible for keeping proper accounting record5 that disclose with reasonable accuracy at any time the financial posltlon of the charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011. They are also responsible for safeguardlng the assets of the charlty and hen￿ for taklng reasonable Steps for the prevention and detection of fraud and other irregularities. The trustees are responslble for the MaIntenan￿ and IntegrFty of the corporate and financial information included on the charity's webslte. Leglslation In the United Klngdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions flnancial information included on the charivs websf(e. Approved by the Board of Trustees on 15 November 2022 and signed on their behalf by Ms Lindsey Anderson, Trustee io Report and kcounts- 5 Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 Independent Auditors, Report to the Trustees of The Alan and Babette Salnsbury Charltable Fund Oplnlon We have audited the financlal statements of The Alan and Babette Sainsbury Charitable Fund Ithe'chariWI for the year ended 5 April 2022 which comprise the ststement of financial activities. balance sheet, statement of cash flows and notes to the flnanclal statements, Including signrficant accouThtin8 policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accountin8 Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republlc of Ireland (united Kingdom Generally Accepted Accounting Practlcel. In our oplnlon. the flnantial statemènts: Give a tNe and fairview of the State of the chariV5 affair5 a5 at 5 April 2022 and of its intomSng resources and applieatlon of resources, for the year then ended Have been properly prepared in accordance with United Kingdom GenerallyAccepted Accountin8 Practlce Have been prepared in accordance with the requirernent5 of the Charftles Act 2011 Basls for oplnlon We conducted our audit in accordance with International Standards on Audlting IUKI IISAS IUKII and applicable law. Oyr responsibilitie5 under those 5taThdards are further described in the Auditorfs responsibilities forthe audit of the financial statements sertion of our repgrt. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, includin8 the FRC5 Ethical Standard and we have fulfilled our other ethlcal responsibilities in attordance with these rèquirements. We believe that the audit evidence we have obtahned 15 sufficient and appropriate to provide a basis for our opinion. Conclu51on5 relatlnito iolnl wncern In auditing the financial statèments, we have concluded that the trustees, use of the going coneern basis of accountin8 in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any materlal uncertainties relating to events or conditions that individually or collectively, may cast Sl8nificant doubt on The and Babette Sainsbury Charitable Fund'5 ability to continue as a going concern for a peibod of at least twelve rnonths from when the financial statements are authorised for issue. Our re5ponsibilitie5 and the responsibllfitles of the trustees w￿h respect to going concern are descrlbed In the relevant sections of this report. li Repjrt and Accounts- 5 April 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 Other Informatlon The other Snformation eomprlses the infomiation Included in the trustees, annual report other than the financial statements and our auditorf5 report thereon. The trustees are responslble for the other informatton containèd withln the annual report. Our oplnlon on the financial ststements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express anyform of 35surante tonclusion thereon. Our responsibility is to read the other information and, in doing 50, consider whether the other information is materially incon51Stent with the financial statements, or our knowledge obtalned In the course of the audlt or otherwise appears to be materially misstated. If we identify suth materlal Inconsi5tentle5 or apparènt mateflal mlsstatements, we are required to determine whetherthis gives rlse to a materlal mlsstatement In the flnanclal statements themselves. If, based on the workwe have performed. we conclude that there Is a materlal mlsstatement of thls other Informatlon. we are Tequlred to report that fact. We have nothlng to report In thSs regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in respect of the following matters In relatlon to whlch the Charf(ies (Accounts and Reportsl Re8ulations 2008 require5 US to report to you if, in our opinion: The Infomatlon glven In thetrU$tee￿ annual report Is inconsistent In any materlal re5pert wlth the financial statements; Sufficient atcountlng records have not been kept,. or The financial statement5 are not in agreement with the aceountln8 records and returns,. or We have not recefved all the Inforniation and explanation5 we require for our audft R•spon$lbllSttes of trurtees As explalned more fully in the staternent of trustees, responslbllltles set out In the trustees. annual report, the trustees are responsible for the preparation ot the financial statements and for being satlsfled that they glve a true and falrview. and forsueh Internal control as the trustees determine is nece5saryto enable the preparatlon of financlal statements that are free from materfal mlsstatement. whether due to fraud orerror. In preparin8 the financlal ststements, the trustees are responsibl? for assessing the eharltvs abllity to contlnve as a golng concern. discloslng, as appllcable, matters related to going concern and usin8 the going concern basis of accountlng unless the trustees elthtr intend to1Squldate the charlty or to cease operatlons, or have no reallstlc altematlve butto do so. Audltorfj rnsponslbllltlqs for th• audlt of the financl¥l 5tsternentS We have been appointed as auditor vnder settlon 144 of the Charltles Act 2011 and report In accordan￿ wlth r¢gulatlons made under sectlon 154 of that Act. Our objectNes are to obtain rèasonable assurance aboutwhetherthe financial ststements as a whole are free from material misstatement, whether due to fraud or error, and t0 Issue an auditorf5 report that include5 our opinion. Reasonable assurance is a hlgh level of assurance, but Is not a guarantee that an audlt conducted in accordance with ISAS IUKI wlll always detect a material mi$5tatement when it exlsts. Mlsstatements can arosè 12 Report and Accounts- S Aprll 2022 THE ALAN AND BABE￿E SAINSBURY CHARITABLE FUND 5 Aprll 2022 frorn fraud or error and are considered material if, indNidually or in the aggregate. they tould reasonably be experted to influence the economic decisions of users taken on the basis of these financial 5tatement5. Irregularitle5, including fraud, are instance5 of non-compliance with laws and regulatlons. Wè deslgn procedures In Ilne with our responsibilities. outlined above. io detect matertal m¢sstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularltles. includin8 fraud are set out below. Capablltty of the audlt In d8te£tJng Irr•gularftles In identifying and assessing risks of material misstatement in respect of Irregularltles, Includlng fraud and non- compliance with laws and regulations, our procedures included the following.. We enquirèd of management and the board of trustèes. whlch Included obtalnlng and reviewin8 supportln8 documentatlon, concemlng the char￿S policies and procedures relating to.. Identifying, evaluating, and cornplying with laws and regulations and whether they were aware of any Instances of non-cornpllance,. Detecting and responding to the rlsks of fraud and whether they have knowledge of any artual, suspected, or alleged Iraud,. The internal controls estsbli5hed to mliigate risks related to fraud or non-compliance with laws and regulations. We inspected the minutes of meetings of those chareed with governance. We obtsined an understanding of the legal and regulatory framework that the charSty operates in, focusin8 on those laws and regulation5 that had a material effert on the financlal statements or that had a fundamental èffect on the opèratlons of the tharlty from our professlonal and sector experience. We communicated applicable laws and regulation5 throughoutthe audlt team and remalned alertto any indicatlons of non-compliante throughout the audit. We reviewed any reports made to regulators. We revlewed the financial statement disclosures and tested these to supportln8 documentation to asses5 compllance wlth appllcable laws and regulations. We pertormed analytital procedure5 to Identlfy any unusual or unexpected relationships that may Indlcate risks of material misstatement due to fraud. In addre55ing the risk of frdud through management override of controls. we tested the appropriateness of journal entrie5 and other adjustments, 35ses5ed whether the judgements made In makin8 accounting estlmates are Indlcatlve of a potential blas and tested significant transactions that are unusual or those gutside the normal course of busirhe5S. Because of the inherent limitations of an audit, there 15 a risk that we will not detect all irregularities, includin8 those leading to a material misstatement in the financial statements or non-compliance with regulation. Thls risk increases the more that compliance with a law or regulation is removed from the events and transattions reflected in the finantial statements. as we wlll be less Ilkety to become aware of instances of non-compliance. The risk is also 8reater regardlng irregularities occurring due to fraud rather than error, as fraud involves Intentlonal Con￿alment. forgery, colluslon, omission or misrepresentstion. A further description of our responsibilitles 15 avallèble on the Financial Reporting Countll's website atr. www.frc.or8.uVauditorsresponsibilitie5. Thi5 description forms part of our audf(orfs report. 13 Report and Accounts- S Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 Use of our report This report is made solely tts the charity's trustees as a body, In acctsrdance with sectlon 144 of the Charltles Act 2011 and regulations made under section 154 of that Act. OUT audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to thÈm in an auditorfs 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 charity'5 tru5tee5 35 3 body, for our audit work. for thi5 report, or for the oplnions we have fomied. 23 November 2022 Sayer Vincent LLP, Statutory Auditor Invlcta House, 108-114 Golden Lane, LONDON, ECIY OTL Sayer Vincent LLP is eligible to act as audf(or in terms of sertion 1212 of the Companie5 Art 21 14 Report and Attounts- S Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND S Apill 2022 5fATEMEpif OF FINANCIALAcrivmES FOR THE YEAR ENDED S APRIL 2022 Expendab Total Fund5 otes Funds In¢rffi•frorn'. In¥estmems ,135 75 5(k).135 4U.079 bank depOS￿4ntere5t Total Incorne io 5111,210 44141 qndltumoh.. Raisiwfunds.. In¥e5tmentmarA8emerrt fees rK1358 60.359 Grant-Ma￿1￿.. GTrnt experditure Grant relaied $upwJrt costs 404,761 87,917 404761 87,917 191CW T•t•l Exp¥0d￿l* 492,678 60,358 s53￿6 330,585 7￿32 1603581 151AZ61 IW57 Netgalnslllos*slun ITNe￿n￿nIa¥tts'. IA56 9)L456 3J6Q270 14et rMvementinfund5 7￿31 841AY38 848,630 3,493A27 Reronclktion Df fund5'. Total fuNls trfo￿ht forward Totalfu￿￿£￿￿￿dfCrW4rd 187.154 194.686 17 162.884 17JSO,038 18 198h68 13A54ZII 17J5a038 l of the above regjts are derfvedfromcontkwlr4actl￿tles.There were nD O￿￿rrec08nL$edp5r￿SQr1O5SeSoth2rIhanthOSEjtattd 15 Report and Accounts- 5 April 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 BALANCE SHEEr AS AT S APRIL 2022 Notes 2022 2021 RXEDASSETS TanglblefL¥ed assets Investments 2,942 18.142,511 18,145,453 4.440 17,399,614 17,304054 CURRENT ASSETS DebtOFS Cash at bank ar￿ in hènd 27.￿? Z19.054 246￿61 50,467 183.408 231875 CURREiif UABILITIES cred￿015. arnounts fallingdue wthin I￿ar 187.891} NEf CURRENTLSSErs 53,215 NEf ASSErs 18.198,668 17,350,038 CAprrAL FUNDS ExFenda￿e endowment li 18m3.982 17,16Z884 INCOME FUNDS Unrestrfrted funds li 194.686 187,154 18,198,668 The flnantlal statements were approved and authorfsedforlssue tythe Trustees on Isth November 2022 and were 5[￿ed on their behalF ￿.. M5 Undseyknderson. Trustee 16 Report and Accounts-s Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND S Aprll 2022 CASH FLOW STATEMENT FOR THE YeAR ENDED 5APRIL 1022 RECONCIUATION NEf EXPENDITURETO NETCASH FLOW FROM OPERATINGAcllvrnES 2022 2021 N•tfa5h u5•d In o￿Tat￿l acthTIUe5 523.1231 1467,891) C•th Ilowsfmm Irwe5UnK Adltion of FkAedAssets f4,118J 51x1.210 459.653 1981,1331 11401￿08} 1,286.597 1,163,690 805.674 217.717 DNklends ard Irrtere$tlrom in¥estmeni$ Purchase of iFwestrnents Proceeds from Sale of investments Net ¢ash provided by (used inl inve51in8 •¢iwities Change In cash and cash equfvaLents 282.551 1250174) Cash and cash equlvalents broughtfO￿ard Cash and cash ￿￿fvalent cathod forw4 421.757 671931 421.757 7154,308 Rttoncluatson of netc•sh used In operatknl a¢tfvltle5 Z02Z Net mo¥ement Inlunds as per5tatementol Flnanclal ACtfv￿es 848.630 3,493A21 DNidend5 and Intere5tfrom Investments 1500,2101 I459￿531 1901A561 I3,3￿2701 1.498 IGalnsVLossÈs on Investsnents Depreckitlon C￿rge$ IlncreasellDecrease in Debtor5 I￿￿1$¢/(Dec￿4sel In Credrtors 23,460 4,955 523,123 .Ci131 1138,290? 1467,891) 2022 2021 Cashat bank and In hand Cash b31arKes held by Investmerst rnanazerfor relnyestsnent 219.054 485,254 704.308 238.349 421757 246,905 551 17 Report and Accounts- S April 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 NOTESTO THE ACCOUNTS I CHARITABLE STATUS The Alan and Babette sal￿bUry Charftsble Fund Is an Unln¢or￿r3ted charfty (Charlty retsratlon nurnber 2929301, reglstered in En8land ènd Wales. The add￿$$ of the ￿￿[Stered office Is 5 Road, London, SWIV 2 PRINCIPAL AccouNnNG POLICIES 01 Bos15 of preparatlon The fIna￿la1 statements have been prepared In accordance with kcouThting and Reportlne by Char￿e$. statement of Recommended Practlce applicable to charrf(ies preparing their accounts in accordance with thE nancial ReportSn8 Standard aprAl¢able in the VK and Republlc of Ireland IFRS 1021- Icharities SORP FRS 1021. The Financlal Reportln¥ Stsndard ap￿sCable In the UK and Republ1¢ of Ireland IFRS 1021 and the Charftles kt 2011. The flnartlal statements have been preparedto glve a 'true and falr vlew. and have departed frorn the Charftie5 (Accounts and Reports) Regulatlons 2CQ8 onty to the extent requlred to provh* a 'true aTrJ falr vlew.. This departu￿ has Involved following Accounting and Rewrtlng by Charities preparing their accounts in accordance wlth the Flnanclal Reporting Standard applicable In the UK Republlc of I￿13nd IFR51021 rather than the Accounting arxl Reporting by Charities.. Statement of Recommended Prartl¢e effectlve from l Aprfl 2005 which has since beenwithdrawn. Thernot constthtes a publlc benefft entlty as defined ￿ FRS 102. Havln8assessed theTrusVs financlal posltlon and plans for the foreseeat4e future,the Tnsstees are satlsfled that is rernains appropriate to Ffepare the flnanclal 5tstements on the 8oinKco￿eM basis. The endowment assets of the Trust remain significant, and the Trust will Continue to pay outto fts beneflclades in accordance with the Trust's otrlects. bl Income Income is shown gro￿ wNch Includes the associated tax credit unless th2 tax 50 deducted 15 ¢on$idered 1￿cO¥ernbIe. Dividends are Intluded by referenceto thelr due dates. Interest Is Sn¢luded when recelvable. 18 Report and Accounts- 5 Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND 5 Aprll 2022 NOTES TOYHE Accoupirs 2 AccouKfiNG POLJCIES l¢ontlnuedl c) Expendlture on Chathabte artTr4lllos Expenditure is recognised once there is a legal or constructNe obligation to make a payment to a third party, s probakle that settlernent will be rE4uired andthe amount of the obIl￿tiOn Can be measured reliably. Costs of 8eneratlwfuTrJs represent amounts pald to the Trust's extemal Investment athIs0￿. Charitable activities expenditure comprise5 grants and donation5 awarded bythe Tw#ees In a¢cordarKe wlth the criterya set out in the Trust Oeed. together with grant related support costs. Grants payable are made to third partie5 in fwtherance of the tharity'$ owects. SIn￿e gr multi-year grants are accounted for when either the reCIp￿nt has a reasonable expectation that they wlll recefve a grant and the trustees have a8reed to pay the grant without condition, or the recipient has a ￿asonable expettatlon that they will receive a grant and that any conditioTh attachin8 to the erant ￿ outslde ol the control of the charlty. The view of the trustees is thèt any instalments payable within 12 month5 of the repurtificdate are experted to be paid regardless of the status of attached conditions and so these are accrued. Any payments due in more than 12 months from the reportlrw date. where conditions exist that have rn)t been met at the reportlw date, are not accrued are reFQrted as an unaccrued future commitment. Grant relateil support costs represent staff, offlce and governance costs irKurred in ma￿￿n8 the Krart award program￿. They include a share of the staff and office costs of the joint offices of the Sainsl)ury Fami￿ Charitatde Trusis, which are allocated Sn proportlon to the tlme SFent on Trl￿ fflatter5 a￿1 Krnnts paSd. dl Investments are a torni of baslc flnanclal Instnjment and are 1n1t1al￿ recognlsed at thelr tran5actlon value and 5ub5equently rnea5ured at thelrfairvalue a5 at the balance sheet date uslngthe closing quoted rnarket prfce. Any change in fair value will be recognised sn the ststernent of financial activities. Investment Bains losses. whether re3lised or unrealised. are combined and shown in the headinB"Net 8alnslllossesl on investments- in the statement of financlal activbtie5. The charity does Th)t acqulre pur optlorts. derivatives or othercomplem financlal Instwments. 5o¢lal Imwct Investments are valued at thelrfalrv?lue. Where fairvalue is not practicable, soclal inve5trnents arE recoBni5ed at cost less Impalrment. 19 Report and Accounts-5 Aprll 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND S Aprll 2022 NOTESTOTHE ACCIXINTS 2 ACCOUNTING POUCIES l¢ontlnued) el DEprtcl•tlon Ftxed assets aTe depreclated at rates which reflect thelr useful Ilfe to the Trust. Items of equipmert are Cap￿all$ed where the purchase pdce exceeds £5.OC#J. Le35ehold improwmÈnts are depreclated over the outstandlng lffe of the lease atthe tlme the work was Completed. The followlr* rates have been used.. Leasehold Imyovements cl355 1- IOyearstral£ht Leasehold imwovtments class 2- 7 year stral8ht FInanc￿l Instrum•nts The charfty has fftnanclal assets and flnancial Ilabillties of a ki[￿ that qualffy as baslc financial instruments. BasSc flnancl31 Instruments are Initial￿ re¢o8nSsed at transaction value and subsequently measured at their 5ettttment value. At the b31ance sheet date Char￿ held flnarKlal assets at falrvalue of £17.657.25712021: £17K*I,2651. 81 Cash and ea5h egufvaltnts Cash at bank and cash in hand includes cash and short term highfy liquid investments with a short maturity of three nx)nths or less from the date of acqulsitlon or openlng of the de￿sIt or 51mllaf account. h) Crl¢kal a¢countlnBlud8emtnts and key sour¢es of estlmatlon un¢*rtalnty In the ap￿iCatIon ol the charlty's accounting policies. whlch are descrfbed atrxjve. Trustees are requlred to make ludgernents. estimates. a55UnVtions about the carrying ¥3lues of assets and Ilabllltles that are not readity apparent from other sources. The estimates and undetlwng assumptions are based on hlstorical experience and other factors that are considered to relevant. Actual results may differ from these estimates. The estirnates and urnledylng assumptions are revlewed on an owolng bas15. R￿ls￿OnS to accountlng estlmates are recognised In the period In which the estimate 15 rewsed if the revlslon affects On￿ that period, or In the perlod of the revlslon znd future perfods If the r￿slon affect5 the current and future period5. In the vlew of the Trustees, no as5UrnPtloas Concemlng the future or estlrnation uncertainty affectlng asset5 and l*abilities at the balance sheet dats are likety to result In a materfal adjustment to thelr carryiw amounts Inthe next financial year. Report and krounts-5 Aprfl 2022 THE ALAN AND BABErrE SAINSBURY CHARrrABLE FUND 5 Apill 2022 TESTOTHEAccoufir5 IIIVE5fMEKf INCOME I￿r￿n¢ r¢ceW On In¥estr￿ntsm¥yb¢ an•tysed•sfdlows: zi Flxed Intsre5t VK egurtles O¥erseasequltkgS jteMat￿S 48.IZ9 173,696 118.111 35,508 170,OS2 IIIA46 8% 35% 24% 31% 26% 29% ,135 464P79 GRANTS PAYABLE 2021 21 Comm*ments*t 6Aprfl 2021 117.500 292SC4) Grants Mt accrued at6 Aprfl 2021 Grantsappro¥ed Sn theyear fjrantscance1￿d or refund Gr•rrtS TK>t iciwedat5 Aprfl 2022 GAntsP•v•b￿fOrthe perlod ZIOOD 191,0ty) 122, 415,5 IID.7391 IIM,761 Grants paid durfDgtheperfvd 1397,0111 1336PJOI Cornmrtrnentsat5 Aprfl 2022 155 250 c47MTh4tTh￿tsItSApr1I 2012•rep￿￿b1e1$fOkn. Wtthln oney&¥lnote 101 155.250 147.50) AILttofGrants pay•bl¢ L% Included InAkyendPAA 21 Reportand A¢¢¥uNts-5 Aprfl 2022 THE ALAN AND BABErrE SAINSBURY CHARITABLE FUND S April 2022 r40TES TO THE Kcoupns 5. ALLOCATIIJN OFSUPPOATCOSTS 21 202J Totsl Totol M*kl fK),52S 14,2*10 2,722 S2 62A77 14240 2.722 57.468 U926 1506 78 *r* ofiolnt Dllkecosts 1￿C0st51r¢Iu￿￿Yfr>V Lwland prDfe55iorwlfee5 Dewecladon dtt0rsrenyj￿ratSon' 11926 L498 4814 5,814 87 17 tnL4t4• fAcgthd any r4mLThratkinf0rthe*ser￿Ces ￿￿rI￿&¢1YrÉ￿tOf wk)r￿ar. Onetnmtee rKevedreithrs*mÈntsfOrthdrtr￿lweftsesQf £52512021.. £rlll. 6. ANALY515 OF 5fAFF COSTS sal4rfe5ar￿v￿￿S Socla1 SE￿￿￿¢￿5￿ Other Fen5bncosts SO926 5,760 49,407 62377 Tntst ts ofie of theSaln5bJry Famitytharitswe Tru5ts.wNGh sharea ￿￿ntodrnInlstrat￿Tr *rhe Re*steredOlfte. 0.7%12021.. 0.8Xlof total supportandathln15trathinntCa￿eJIed> RefLye MlyartCentFe IRMCI Refwsfoijwtlce Roomty Heal 20.l•XI 33,f en ClhThteSolut YouthWty* t¥eJrn Belie¥EA¢hw IDW $11rnonYDUthC*ntr YOuwFthJies 2,StsJ 18,ori) 32.5 CourdlolCM5tlar6&Jew5 WlerttHohcaLSt Llbrary iom) iomi hden CllThte5u1utk>n5 enSxArch5chooI-forr￿rlVvernv￿ Hvwek Sakn5bJryArtht¥* Ur￿tel SL SaviD Tolaly￿tsPVrf•b￿pe1SfI1erneTht0f Fkn•ThrWA¢tfvtt ion 19LiKIJ 26 Report and Accounts- S Aprfl 2022