## ## |Trustees|||Mr R EWorby|||| |---|---|---|---|---|---|---| ||||Prof J A Williams|||| ||||Prof H A Spikes|||| ||||Prof H P Evans||(Appointed|7 October| ||||||2021)|| |Charity|number||293571|||| |Principal|address||1st Floor|||| ||||Nicholas
House|||| ||||River Front|||| ||||Enfield|||| ||||Middlesex|||| ||||EN1 3FG|||| |Auditor|||Brian Paul Limited|||| ||||Chase Green House|||| ||||42 Chase Side|||| ||||Enfield|||| ||||Middlesex|||| ||||EN2 6NF|||| |Bankers|||C Hoare &Co.|||| ||||37 Fleet Street|||| ||||London|||| ||||EC4P 4DQ|||| |Investment||managers|Investec Wealth|& investment||| ||||30 Gresham Street|||| ||||London|||| ||||EC2V 7QN|||| ## ## |||Page| |---|---|---| |Chairman's
statement||| |Trustees'
report||2-3| |Independent
auditor's|report|4-7| |Statement
offinancial|activities|| |Balance sheet||| |Statement ofcash flows||10| |Notes to the financial|statements|11-17| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Unrestricted| |---|---|---|---|---|---| |||||funds|funds| |||||2021|2020| ||||Notes|6|f| |Is tmK
s|||||| |Donations
and|legacies receivable||2|3,083,104|| |Investment
income|||3|26,309|91,318| |Total Income||||3,109,413|91,318| |Ettg~igre on:
Charitable
activities|||4|129,124|143,276| |Net gains/(losses)||on investments|9|237,451|(216,941)| |Net movement|in|funds||3,217,740|(268,899)| |Fund balances|at 6April 2020|||1,535,669|1,804,568| |Fund balances|at|5April 2021||4,753,409|1,535,669| ## ## ## |||||||2021||2020|| |---|---|---|---|---|---|---|---|---|---| ||||||Notes|6||f|| |Fixed assets|||||||||| |Investments|||||10||1,609,170||1,127,769| |Current assets|||||||||| |Investments|||||11|3,318,100|||| |Debtors|||||12|2,232||102,782|| |Cash at bank|and|in|hand|||23,283||234,664|| |Cash with stockbrokers||||||46,223||74,478|| |||||||3,389,838||411,924|| |Creditors: amounts|||falling|due within|||||| |one year|||||13|(245,599)||(4,024)|| |Net current assets|||||||3,144,239||407,900| |Total assets|less|current||liabilities|||4,753,409||1,535,669| |Income funds|||||||||| |Unrestricted|funds||||||4,753,409||1,535,669| ||||||||4,753,409||1,535,669| ## ## ## |||||2021||2020|| |---|---|---|---|---|---|---|---| ||||Notes|f|||| |Cash flows from operating||activities|||||| |Cash absorbed
by operations|||17||(21,995)||(159,833)| |Investing
activities|||||||| |Purchase of investments||||(786,880)||(306,734)|| |Proceeds on disposal of investments||||545,220||460,835|| |Investment
income||||24,019||41,755|| |Net cash (used in)/generated
investing
activities||from|||(217,641)||195,856| |Net cash used in financing||activities|||||| |Net (decrease)/Increase
in|cash and||cash||||| |equivalents|||||(239,636)||36,023| |Cash and cash equivalents|at beginning||ofyear||309,142||273,119| |Cash and cash equivalents||at end of|year||69,506||309,142| |Relating to:|||||||| |Cash at bank and
in hand|||||23,283||234,664| |Short term deposits
included
asset investments||in current|||46,223||74,478| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2021
E|2020f| |---|---|---|---|---|---| ||Legacies receivable|||3,083,100|| ||Donations|||4|| |3|Investment|Income|||| |||||2021f|2020| ||Income from|managed|funds|20,237|34,409| ||Interest receivable|||3,782|7,346| ||Realised
profit/(loss)||on sale ofinvestments|2,290|49,563| |||||26,309|91,318| |4|Charitable
activities||||| |||||2021|2020| |||||E|E| ||Grant funding|of activities (see note 5)||41,700|57,729| ||Support costs (see note 6)|||72,885|75,219| ||Governance|costs (see note 6)||14,539|10,328| |||||129,124|143,276| ## ## ## |Grants payable||||||| |---|---|---|---|---|---|---| ||||||2021|2020| ||||||E|f| |Grants to institutions|(18grants):|||||| |The Peter Jest Travel|Fund||||800|19,629| |Norfolk Hospice|||||1,000|| |NHS Charities COVID-19|||||1,000|| |Action on hearing
loss||||||25,000| |Science and Technology||Foundation||Trust|8,000|8,000| |Tribo UK Conferences||||||4,000| |UTC Reading
Mechanical||Engineering||Grant|1,800|| |RNID Graduate
grant|||||25,000|| |Hearing dogs for the|deaf||||3,000|| |Other organisations
and charities,|||all|below E1,000 each|1,100|1,100| ||||||41,700|57,729| ## |Support and|governance|costs|||||| |---|---|---|---|---|---|---|---| |||Support|Governance|2021|Support|Governance|2020| |||costs|costs||costs|costs|| |||E|E||E|E|| |Staff costs||21,072||21,072|21,076||21,076| |Rent and rates||3,660||3,660|3,773||3,773| |Insurance||604||604|603||603| |Computer costs||346||346|88||88| |Office supplies||146||146|||| |Telephone||946||946|2,362||2,362| |Bank charges||423||423|172||172| |Property expenses||22,533||22,533|17,479||17,479| |Stockbrokers|fees|14,654||14,654|12,014||12,014| |Legal and professional|||||||| |fees||8,501||8,501|17,652||17,652| |Audit fees|||2,880|2,880|||| |Accountants'|fees||5,360|5,360||3,372|3,372| |Independent|Examiner's||||||| |fees||||||1,200|1,200| |Administration|costs.||6,299|6,299||5,756|5,756| |||72,885|14,539|87,424|75,219|10,328|85,547| |Allocated to:|||||||| |Charitable
activities||72,885|14,539|87,424|75,219|10,328|85,547| ## ## ## ## |||2021|2020| |---|---|---|---| |||Number|Number| |Administration|staff||| |Employment|costs|2021|2020| |Wages and salaries||20,660|20,660| |Pension costs||412|416| |||21,072|21,076| ## |Net gains/(l|oss|es)
on Investments||| |---|---|---|---|---| ||||2021|2020| ||||f.|f| |Revaluation|of|investments|237,451|(216,941)| |Fixed ass|et investments|| |---|---|---| |||Listed| |||Investments| |||E| |Cost or valuation||| |At 6April|2020|1,127,769| |Additions||786,880| |Valuation|changes|239,741| |Disposals||(545,220)| |At 5April|2021|1,609,170| |Carrying|amount|| |At 05April|2021|1,609,170| |At 05April|2020|1,127,769| ## ## ||||||||| |---|---|---|---|---|---|---|---| |10|Fixed asset Investments||||||(Continued)| ||The historic cost ofthe investments||||at 5April|2021 was f1,451,696 (2020:f1,205,688).|| |11|Current||Asset Investments||||| |||||||2021|2020| |||||||E|E| ||Property||held for sale|||3,318,100|| |12|Debtors||||||| |||||||2021|2020| ||Amounts||falling due|within one|year:|f|E| ||Other debtors|||||2,232|102,782| |13|Creditors: amounts|||falling due within one||year|| |||||||2021|2020| |||||||f|| ||Other creditors|||||245,599|4,024| |14|Analysis||of net assets between||funds||| |||||||Unrestricted|Unrestricted| |||||||funds|funds| |||||||2021|2020| |||||||E|f| ||Fund balances at 5April 2021 are||||represented|by:|| ||Investments|||||1,609,170|1,127,769| ||Current|assets/(liabilities)||||3,144,239|407,900| |||||||4,753,409|1,535,669| ## ## ## ||On 6th August 2021, the Foundation
f3,400,000.|On 6th August 2021, the Foundation
f3,400,000.|sold the property,|sold the property,|that|it had acquired|via a legacy for a|consideration| |---|---|---|---|---|---|---|---|---| |17|Cash generated
from operations||||||2021f|2020
f| ||Surplus/(deficit)
for the year||||||3,217,740|(268,899)| ||Adjustments
for:|||||||| ||investment
income recognised|in statement||offinancial|activities||(26,309)|(91,318)| ||Fair value gains and losses on|investments|||||(237,451)|213,810| ||Movements
in working
capital:|||||||| ||(Increase)/ decrease
in current|asset|investments||||(3,318,100)|| ||Decrease/(increase)
in debtors||||||100,550|(10,354)| ||Increase/(decrease)
in creditors||||||241,575|(3,072)| ||Cash absorbed
by operations||||||(21,995)|(159,833)| ## ## ## ||||||||2021
6||2020f| |---|---|---|---|---|---|---|---|---|---| |INCOME|||||||||| |Investment
Income|||||||||| |Income from managed||funds|||||24,019||41,755| |Realised
profit/(loss)||on sale of investments|||||2,290||49,563| |Donations
and legacies|||receivable||||||| |Legacies receivable|||||||3,083,100||| |Donation|||||||4||| |Other recognised|gains||and losses||||||| |Unrealissd
gains/(losses)|||on investment||assets||237,451||(216,941)| ||||||||3,346,864||(125,623)| |EXPENDITURE|||||||||| |Grants payable
in|furtherance|||ofthe|Foundation's|objects|||| |Grants and donations||paid|during|the year|||41,700||57,729| |Support and governance|||costs||||||| |Staff costs||||||21,072||21,076|| |Rent and rates||||||3,660||3,773|| |Insurance||||||604||603|| |Computer costs||||||346||88|| |Office supplies||||||146|||| |Telephone||||||946||2,362|| |Bank charges||||||423||172|| |Property expenses||||||22,533||17,479|| |Stockbrokers fees||||||14,654||12,014|| |Legal and professional||fees||||8,501||17,652|| |Audit fees||||||2,880|||| |Accountants'
fees||||||5,360||3,372|| |Independent
Examiner's fees||||||||1,200|| |Administration
costs||||||6,299||5,756|| ||||||||87,424||85,547| ||||||||129,124||143,276| |Total income for the|year||||||3,346,864||(125,623)| |Total expenditure
for the year|||||||(129,124)||(143,276)| |Net Income/(expenditure)|||for the year||||3,217,740||(268,899)|