2021-04-05-accounts

CHARITY NO.. 299963 THE WOODWARD CHARITABLE TRUST ANNUAL REPORT 5 APRIL 2D21 Tho Peak SWiltDn Ro¥d [￿￿ort SWIV IAP

TEN	TS	PAGE
1	TheTrustees’Report	2-12
2	IndependentAuditors’Report	13-16
3	StatementofFinancialActivities	17
4	BalanceSheet	18
5	CashFlowStatement	19
6	NotestotheAccounts	20-27

Trustees	MrsC D Woodward
	MrS A Woodward
	MrTRG Hunniwood
	MrsE L D Mills
	Miss OM V Woodward
	Miss KMR Woodward
Registered	ThePeak,5 WiltonRoad,	LondonSW1V1AP
Office
Website	www.woodwardcharitabletrust.org.uk
Principal	MrsK Everett	ChiefOperatingOfficer
Officers	MrsK Hooper	Executive
Bankers	Child& Co
	1FleetStreet
	LondonEC4Y1BD
Solicitors	PortraitSolicitors
	21WhitefriarsStreet
	LondonEC4Y8JJ
Auditors	SafferyChampnessLLP
	71QueenVictoriaStreet
	London
	ECAV4BE
Investment	JP MorganInternationalBankLimited
Advisers	1Knightsbridge
	LondonSW1X7LX
Investment	TheTrustDeedempowers	theTrusteestoappointinvestmentadviserswho
Powers	havediscretiontoinvestthefundsoftheTrustwithinguidelinesestablished
	bytheTrustees.
Objects	TheobjectsoftheTrustasgivenintheTrustDeedareforgeneralcharitable
	purposes.

	NewGrants	Approved	Payments	Made
	Number	£	£	Number
Arts	11	20,959	19,959	14
CommunityandSocialWelfare	91	117,706	83,910	61
DisabilityandHealth	12	38,325	48,943	20
Education	7	36,250	20,250	11
SummerSchemes	18	16,240	16,240	18
	139	229,480	189,302	124

	£
CascadeTheatreCompany	1,000
CreativeWavesCommunityArtsCIC	1,000
GramophonesTheatreCompany	750
HamptonsInternationalFilmFestival,Inc	7,459
HarrowSteel	750
MaDTheatreCompany	1,500
Outreach& CommunityActionProject	750
PimlicoMusicalFoundation	1,000
SchoolGroundSounds	1,000
SmallPerformanceAdventures	500
ThePlayHouseBirminghamLtd	1,500
WeMoveDanceCIC	1,000
WyldwoodArtsCIC	1,000
YoungWomen'sMusicProject	750

		£
ApproachableParenting		1,000
BabbasaYouthEmpowerment		2,000
BabyEquipmentLoansServiceHowdon(Bels)		1,000
BalticStreetAdventurePlayground		1,000
BeKindMovement		750
BlackHealthInitiative		1,000
BrunswickYouthandCommunityCentre		1,500
ChildhoodTrust		3,690
ConcreteGarden		1,000
CopperdaleTrust		2,000
Cowshed		1,000
CREST(CompactforRaceEqualityinSouth Tyneside)		1,000
CrosswayPregnancyCrisisCentre		2,000
Empowr-UCIC		1,500
Escapeline		1,000
Estudiantes		1,000
ExodusProject		2,000
FreedomCharity		500
FriendsofHolcot		800
FriendsofStourConnect		750
GiveA Book		2,000
GoodThingsFoundation		3,690
GoodVibrations		1,000
HealthEnergyAdviceTeam(HEAT)		1,000
Home-StartSouthWiltshire		750
Hometruths		1,000
HopefortheYoung		2,000
HotLineMealsService(London)		1,000
HouseofBread		1,000
HumansMCR		2,000
KidsKitchenCollectiveCIC		1,000
KindfulnessCoffeeClub		750
KittiwakeTrust		1,500
LeedsDads		1,000
MuirheadOutreachProject		750
MYTIME		1,000
NationalEmergenciesTrust		3,690
NeneValleyCareTrust		1,000
NorthWestWomen'sCentre	.	1,000
OasisCommunityHub:AshburtonPark		2,000
ParentalEducationGrowthSupportCIC		600
PlayRadnor		1,000

Prospex	1,000
ProvidingEx-OffendersPositiveLearningEnvironments	1,000
Rainworth& BlidworthDetachedYouthProject	1,000
ReasonsWhyFoundation	1,000
Regener8ingCymru	1,500
Reprieve	3,000
SaintMarksCommunityCafe	500
Samphire- (formerlyknownasDoverDetaineeVisitorGroup)	1,500
SkoolofStreet	1,500
SolidaritySports	1,000
StandAgainstViolence	2,500
StepNowGlobalCIC	1,000
StringofHeartsCIC	1,000
TCD(TimestepCommunityDance)	1,000
TeamOasis	1,500
UrbanDevotionBirmingham	1,000
Women'sAidFederationofEngland	3,690
YoungAsianVoices(YAV)	2,000

	£
ATTheBus	1,000
Autus- Hao2.euFoundation	1,000
CommonGroundCollective	1,000
CuedSpeechAssociationUK	1,000
GlyndebourneProductionsLtd	5,000
JobsFriendsandHousesCIC	1,000
LittleTreasures	1,000
MentalFightClub	1,000
Noah'sArkFamilyProject	750
OneConversation	575

	£
AndoverTreesUnited	1,000
AspireNI	1,000
ChampionsFunLearningCentre	1,000
ChefsinSchools	1,000
Eagle'sNestProject	1,000
Life& SoulYouthwork	1,000
MagicLantern	1,000
ProjectEileenCIO	750
QuestforLearning	2,500
TheGrange	5,000
TheSainsburyArchive	5,000

	£
AckworthCommunityLibrary	650
AutismVoiceLimited	1,000
BalsallHeath CATS(ChildrenActionTeamSupport)	1,000
BramptonYouthGroup	750
ColwallCommunityChurch	1,000
DovecoteVoluntaryParentCommittee	1,000
HardwickinPartnership	840
HeartofTamworthCommunityProject	1,000
HiveSilsdenCIO	1,000
InterActiveWhitbyandDistrict	1,000
KingfisherPre-school	1,000
MalvernCubeProjects	1,000
OasisCommunityHub:Wintringham	1,000
OpeningDoorsProject	1,000
SouthamptonChildren'sPlayAssociation	500
Sport-TecintheCommunity	1,000
UnityCommunityAssociation,Liverpool	1,000
WallsendMemorialHall& People’sCentre	500

		Unrestricted	Expendable	TotalFunds
	Notes	Funds	Endowment	2021	2020
		£	f	f	£
Income
Investments	2	158,255	-	158,255	168,202
Bankdepositinterestandotherincome		319	-	319	1,478
TotalIncome		158,574	-	158,574	169,680
Expenditure
Costofraisingfunds:
Investmentmanagementcosts		-	85,547	85,547	89,200
Charitableactivities:
Grant-making:
Grantexpenditure	3	213,980	-	213,980	190,543
Grantrelatedsupportcosts	4	86,940	-	86,940	76,572
TotalExpenditure		300,920	85,547	386,467	356,315
Netoperatingdeficit		(142,346)	(85,547)	(227,893)	(186,635)
Netgains/(losses)oninvestments	7	-	1,619,438	1,619,438	(36,948)
Exchangeandcurrencygains/(losses)	1	-	388,504	388,504	(236,329)
Transfersbetweenfunds	10	142,346	(142,346)	-	-
Netmovementinfunds		-	1,780,049	1,780,049	(459,912)
Reconciliationoffunds:
Totalfundsbroughtforward		-	10,162,816	10,162,816	10,622,728
Totalfundscarriedforward		-	11,942,865	11,942,865	10,162,816

	Notes		2021	2020
		£	£	£
FIXEDASSETS
Tangiblefixedassets	6		3,897	2,240
Investments	7		12,049,123	10,465,700
			12,053,020	10,467,940
CURRENTASSETS
Debtors	8	862		16,731
Cashatbankandinhand		47,241		39,905
		48,103		56,636
CURRENTLIABILITIES
Creditors- amountsfallingduewithin1 year	9	158,258		361,760
NETCURRENTLIABILITIES			(110,155)	(305,124)
NETASSETS			11,942,865	10,162,816
CAPITALFUNDS
Expendableendowment	10		11,942,865	10,162,816
INCOMEFUNDS
Unrestrictedfunds	10		-	-
			11,942,865	10,162,816

Cashflowsfromoperatingactivities:
	2021	2020
	f	£
Netcashusedinoperatingactivities	(572,517)	(225,528)
Cashflowsfrominvestingactivities:
Dividendsandinterest	158,574	169,680
Purchaseofinvestments	(13,123,787)	(6,097,814)
Saleofinvestments	13,428,826	6,310,899
Fixedassetadditions	(3,240)	-
Netcashprovidedbyinvestingactivities	460,373	370,546
Changeincashandcashequivalentsintheyear	(112,144)	157,237
Cashandcashequivalentsatthebeginningoftheyear	297,030	152,012
Changeincashandcashequivalentsduetoexchangeratemovements	(85,378)	(12,219)
Cashandcashequivalentsattheendoftheyear	99,508	297,030
Reconciliationofnetexpendituretonetcashflowfromoperatingactivities
	2021	2020
	£	E
Netmovementinfunds(asperthestatementoffinancialactivities)	1,780,049	(459,912)
(Gains)/lossesoninvestments	(1,619,438)	36,948
Dividendsandinterest	(158,574)	(169,680)
Depreciationcharges	1,583	1,120
Decrease/(increase)indebtors	15,869	(16,731)
(Decrease)/increaseincreditors	(203,502)	146,398
Exchangeandcurrency(gains)/losses	(388,504)	236,329
Netcashusedinoperatingactivities	(572,517)	(225,528)

			Changein
	2021	2020	year
Cashatbankandinhand	47,241	39,905	7,336
Cashheldforreinvestment(aspernote7)	52,267	257,125	(204,858)
	99,508	297,030	(197,522)

			2021			2020
		£	%	£		%
	Fixedinterest	70,776	45	63,206		38
	Equities	62,794	40	68,723		41
	Socialimpactinvestments	24,685	15	36,273		22
		158,255	100	168,202		100
.	ANALYSISOFGRANTS
			2021			2020
		£	£	£		£
	Reconciliationofgrantspayable:
	Commitmentsat6 April2020		69,805			185,244
	Grantsnotaccruedat6 April2020	-		-
	Grantsapprovedintheperiod	229,480		191,043
	Grantscancelled,refundedoramended	(500)		(500)
	Grantsnotaccruedat5 April2021	(15,000)		-
	Grantspayablefortheperiod		213,980			190,543
	Grantspaidduringtheperiod		(189,302)			(305,982)
	Commitmentsat5 April2021		94,483		~69,805
	Commitmentsat5 April2021arepayableasfollows:
			2021		__	2021
			£			£
	Withinoneyear(note9)		94483 94,483		____69,805

Theamountpayableintheperiodconsistedofthefollowing:
Arts HamptonsInternationalFilmFestival,Inc	£ 7,459
RoyalOperaHouseCoventGardenFoundation	5,000
9grantswerealsopayabletotalling	8,500
CommunityandSocialWelfare
CASSPLUS	2,500
CELLSProjectCIC	2,850
ChildhoodTrust,The	3,690
GoodThingsFoundation	3,690
NationalEmergenciesTrust	3,690
Reprieve	3,000
StandAgainstViolence	2,500
Women'sAidFederationofEngland	3,690
84grantswerealsopayabletotalling	91,596

	DisabilityandHealth
	GlyndebourneProductionsLtd	5,000
	PaulCottinghamTrust	3,000
	RosePatersonTrust,The	2,500
	UniversityofSouthampton,DepartmentofPsychology	20,000
	8grantswerepayabletotalling	7,825
	Education
	Grange,The	5,000
	QuestforLearning	2,500
	SainsburyArchive,The	10,000
	4grantswerepayabletotalling	3,750
	SummerSchemes
	18grantswerepayabletotalling	16,240
	TotalgrantspayableperStatementofFinancialActivities	213,980
.	ALLOCATIONOFSUPPORTANDGOVERNANCECOSTS

	2021	2021	2021	2020
	Grant-	Governance	Total	Total
	Making		Allocated	Allocated
	£	£	£	£
Staffcosts	57,635	1,618	59,253	46,155
Shareofjointofficecosts	10,168	-	10,168	9,958
Directcostsincludingtravel	8,958	-	8,958	13,305
Legalandprofessionalfees	78	-	78	778
Depreciation	1,583	-	1,583	1,120
Auditors'remuneration	-	6,900	6,900	5,256
	78,422	8,518	86,940	76,572

ANALYSISOFSTAFFCOSTS
	2021	2020
	£	£
Salariesandwages	48,269	38,076
Socialsecuritycosts	5,408	3,923
Otherpensioncosts	5,576	4,156
	59,253	46,155

LeaseholdImprovements
	2021	2020
Cost	£	£
Costat6 April2020	11,200	11,200
Additions	3,240	-
At5 April2021	14,440	11,200
Depreciation
At6 April2020	8,960	7,840
Chargefortheperiod	1,583	1,120
At5 April2021	10,543	8,960
NetBookValue
At5 April2021	3,897	2,240
At5 April2020	2,240	3,360
FIXEDASSETINVESTMENTS
	2021	2020
	£	£
Marketvalueat6 April2020	10,415,890	10,665,923
Less:Disposalsatproceeds	(13,428,826)	(6,310,899)
Add:Acquisitionsatcost	13,123,787	6,097,814
Netgains/(losses)oninvestments	1,619,438	(36,948)
Marketvalueat5 April2021	11,730,289	10,415,890
Forwardexchangecontracts	266,567	(207,315)
Cashheldforreinvestment	52,267	257,125
TotalInvestments	12,049,123	10,465,700

		2021		2020
	Cost	Market	Cost	Market
		Value		Value
	£	£	£	£
FixedIncome	3,945,335	3,863,839	3,883,616	3,963,465
Equities	5,789,098	5,825,341	4,022,062	3,795,014
AlternativeInvestments	86,336	83,895	1,043,150	1,457,003
SocialImpactInvestments	1,583,422	1,957,214	1,112,966	1,112,966
ShortTermInvestments	-	-	87,442	87,442
	11,404,191	11,730,289	10,149,236	10,415,890

EBTORS
		2021	2020
		£	£
Otherdebtors		862	16,731
		862	16,731
REDITORS- amountsfallingduewithinoneyear
		2021	2020
		£	£
Grantspayablewithinoneyear		94,483	69,805
Professionalcharges		9,300	8,483
Investmentmanagementfee		24,651	16,920
Othercreditors		29,824	266,552
		158,258	361,760
ANALYSISOFNETASSETSBETWEENFUNDS
	Unrestricted	Expendable	Totals
	Funds	Endowment	2021
	f	£	f
Fundbalancesat5 April2021arerepresentedby:
Tangiblefixedassets	&	3,897	3,897
Investments	-	12,049,123	12,049,123
Currentassets	103,783	(55,680)	48,103
Currentliabilities	(103,783)	(54,475)	(158,258)
Totalnetassets	-	11,942,865	11,942,865
Movementintheyear
Openingbalanceasat6 April2020	-	10,162,816	10,162,816
Totalincomeandendowments	158,574	-	158,574
Costofraisingfunds	-	(85,547)	(85,547)
Costofgrant-making	(300,920)	-	(300,920)
Netgainsoninvestments	-	1,619,438	1,619,438
Exchangeandcurrencygains	-	388,504	388,504
Transfersbetweenfunds*	142,346	(142,346)	g
Closingbalanceasat5 April2021	-	11,942,865	11,942,865

	Unrestricted	Expendable	Totals
	Funds	Endowment	2020
	f	£	£
Fundbalancesat5 April2020arerepresentedby:
Tangiblefixedassets	-	2,240	2,240
Investments	-	10,465,700	10,465,700
Currentassets	78,288	(21,652)	56,636
Currentliabilities	(78,288)	(283,472)	(361,760)
Totalnetassets	-	10,162,816	10,162,816
Movementintheyear
Openingbalanceasat6 April2019	-	10,622,728	10,622,728
Totalincomeandendowments	169,680	-	169,680
Costofraisingfunds	-	(89,200)	(89,200)
Costofgrant-making	(267,115)	-	(267,115)
Netlossesoninvestments	-	(36,948)	(36,948)
Exchangeandcurrencylosses	-	(236,329)	(236,329)
Transfersbetweenfunds	97,435	(97,435)	-
Closingbalanceasat5 April2020	-	10,162,816	10,162,816

	Unrestricted	Expendable	TotalFunds
	Funds	Endowment	2020
	£	£
Income
Investments	168,202	-	168,202
Bankdepositinterestandotherincome	1,478	-	1,478
TotalIncome	169,680	-	169,680
Expenditure
Costofraisingfunds:
Investmentmanagementcosts	-	89,200	89,200
Charitableactivities:
Grant-making:
Grantexpenditure	190,543	-	190,543
Grantrelatedsupportcosts	76,572	-	76,572
TotalExpenditure	267,115	89,200	356,315
Netoperatingdeficit	(97,435)	(89,200)	(186,635)
Netlossesoninvestments	-	(36,948)	(36,948)
Exchangeandcurrencylosses	-	(236,329)	(236,329)
Transfersbetweenfunds	97,435	(97,435)	-
Netmovementinfunds	-	(459,912)	(459,912)
Reconciliationoffunds:
Totalfundsbroughtforward	-	10,622,728	10,622,728
Totalfundscarriedforward	-	10,162,816	10,162,816