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2021-03-31-accounts

		Pages
Trustees' annual report		1 to 4
Independent examiner's report to the trustees
Statement offinancial	activities
Statement offinancial	position
Notes to the financial	statements	8to 17

Registered	charity name	charity name	The Elmgrant	Trust	Trust
Charity registration		number	313398
Principal office			Elmhirst Centre
			Dartington Hall
			Totnes
			Devon
			TQ9 6EL
The trustees			M.B.Ash		-Chairperson
			S.Young
			P.B.Elmhirst
			M.R.W. Sharman
Committee	ofmanagement		D.J.Young
			A. Daftari
			T. Lane
Company secretary			Mrs. A. Critchlow		Horning
Independent	examiner		Paul Cridland	FCA
			61 Macrae Road
			Harn Green
			Bristol
Bankers			Lloyds TSBBank		Pic
			41 Courtenay	Street
			Newton Abbot
			Devon
			TQ12 2QW
			CAF Bank Limited
			PO Box289
			West Mailing
			Kent
			ME194JQ
Investment	managers		Investec
			30Gresham Street
			London
			EC2V 7QP

						2021		2020
					Unrestricted	Endowment
					funds	funds	Total funds	Total funds
				Note	E	6	8
Income and endowments
Investment income						66,927	88,944	89,164
Total income					17	66,927	68,944	89,164
Expenditure
Expenditure on raising funds:
Investment management			costs	5		19,159	19,159	19,901
Expenditure on charitable		activities		8,7	96,511		98,511	102,188
Total expenditure					96,511	19,159	115,870	122,089
Net gains/(losses)	on investments			10		(443,509)	(443,509)	309,675
Net income/(expenditure)					(96,494)	491,277	394,783	(342,600)
Transfers between	funds				93,000	(93,000)
Net movement in	funds				(3,494)	398,277	394,783	(342,600)
Reconciliation of	funds
Total funds brought	forward				44,442	2,443,394	2,487,836	2,830,436
Total funds carried forward					40,948	2,841,671	2,882,819	2,487,836

Fixed assets		Note	2021 5	2020 f
Tangible fixed assets Investments		16 17	300 2,832,417	350 2,434,454
			2,832,717	2,434,804
Current assets
Debtors Cash at bank and in	hand	18	16,933 38,674	16,618 42,003
			55,607	58,62'I
Creditors: amounts	failing due within one year	19	5,705	5,589
Net current assets			49,902	53,032
Total assets less current liabilities			2,882,619	2,487,836
Net assets			2482,619	2,487,836
Funds ofthe charity
Endowment funds Unrestricted funds			2,841,671 40,948	2,443,394 44,442
Total charity funds		21	2,882,619	2,487,836

prepayment Investment	will lead to a income	reduction in fu	ture payments or a	cash refund.
				Unrestricted	Endowment	Total Funds
				Funds	Funds	2021
				6		6
Income from	listed investments				66,927	66,927
Bank interest	receivable			17		17
				17	66,927	66,944
				Unrestricted	Endowment	Total Funds
				Funds	Funds	2020
				6	6	6
Income from	listed investments				89,095	89,095
Bank interest	receivable			69		69
				69	89,095	89,164
Investment	management	costs
			Endowment	Total Funds	Endowment	Total Funds
			Funds	2021	Funds	2020
					F
Portfolio management			19,159	19,169	19,901	19,901

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds 6	2021 f	Funds	2020
Education and educational research Arts and arts research Social sciences and science Pensions and compassionate	15,618 16,763 25,484 19,100	15,618 16,763 25,484 19,100	13,135 17,960 35,842 14,296	13,135 17,960 35,842 14,296
Support costs	19,546	19,546	20,955	20,955
	96,511	96,511	102,188	102,188

Expenditure on charitable activities by	activity type
	Activities
	undertaken		Total funds	Total fund
	directly f	Supportcosts 6	2021 6	2020 E
Education and educational research Arts and arts research Social sciences and science Pensions and compassionate Governance costs	15,618 16,763 25,484 19,100	2,447 3,991 2,625 2,991 7,492	18,065 20,754 28,109 22,091 7,492	15,192 23,575 38,656 16,536 8,229
	76,965	19,546	96,511	102,188

Ye	ar ended 31 March 2021
9.	Analysis ofgrants
		2021	2020
		6	5
	Grants to institutions
	Grants to institutions	73,165	79,178
	Grants to individuals
	Grants to individuals	3,800	2,055
	Total grants	76,965	81,233

During the	year 82 (2020:81)grants	were paid to institutions.	8 grants were paid to individuals
The major	grants paid to institutions	of52,000 and over in the	year were:
Widecombe	Community Hall CIO		52,500
Our Only World			52,500
Wadebridge	Foodbank and Storage		22,600
Falmouth and Penryn Welcome Refugee Families			52,500

10.	Net gains/(lo		sses) on	in	vestmen	t	s
									Endowment	Total Funds	Endowment		Total Funds
									Funds	2021		Funds	2020
									F			F	5
	Gains/(losses)		on other	investment			assets		443,509	443,509		(309,675)	(309,675)
11.	Net income/(expenditure)
	Net income/(expenditure)				is stated		after charging/(crediting):
												2021	2020
												6	f
	Depreciation		oftangible	fixed assets								50	50
12.	Independent		examination		fees
												2021	2020
												6
	Fees payable		to the independent			examiner		for:
	Independent	examination			ofthe financial statements							1,500	1,500
13.	Staffcosts
	The total staff		costs and	employee			benefits	for	the reporting	period are analysed		as follows:
												2021	2020
												6	F
	Wages and salaries											12,428	12,257
	Employer contributions			to	pension		plans					373	369
												12,801	12,626

Tangible fixed assets
	Equipment	Total
	E	6
Cost
At 1 April 2020 and 31 March 2021	2,195	2,195
Depreciation
At 1 April 2020	1,845	1,645
Charge for the year	50	50
At 31 March 2021	1,895	1,995
Carrying amount
At 31 March 2021	300	300
At 31 March 2020	350	350

s to the Financial Statements f ondnuedJ ended 31Ilarch 2021
Investments
	Cash or cash	Listed
	equivalents	investments	Total
	F		6
Cost orvaluation
At 1 April 2020	116,559	2,317,895	2,434,454
Additions		616,743	618,743
Disposals Fair value movements		(567,643) 443,509	(567,643) 443,509
Other movements	(96,646)		(96,646)
At 31 March 2021	19,913	2,612,504	2,832,417
Impairment
At 1 April 2020 and 31 March 2021
Carrying amount
At 31 March 2021	19,913	2,812,504	2,832,417
At 31 March 2020	116,559	2,317,895	2,434,454

an active mark Debtors	et at th	e balance sheet date.
			2021	2020
			F
Prepayments	and accrued income		16,933	16,616
Creditors: amounts		falling due within one year
			2021	2020
			6
Accruals and deferred income Social security and other taxes			5,260 217	5,260 217
Other creditors			228	112
			5,706	5,569

								Gains and	At
			At 1 Apr 2020		Income F.	Expenditure F	Transfers f	losses	31Mar 2021 E
General	funds			44,442	17	(96,511)	93,000		40,948
								Gains and	At
			At 1 Apr 2019		Income f	Expenditure	Transfers	losses F	31 Mar 2020 F
General	funds			49,561	69	(102,188)	97,000		44,442
Endowment		funds
								Gains and	At
			At 1 Apr 2020 E		Income E	Expenditure	Transfers f	losses F	31Mar 2021 K
Expendable
Endowment		Fund
-Capital	Fund			2,443,394	66,927	(19,159)	(93,000)	443,509	2,841,871
								Gains and	At
			At 1	Apr 2019	Income	Expenditure	Transfers	losses	31 Mar 2020
						E			F
Expendable
Endowment		Fund
-Capital	Fund		2,780,875		89,095	(19,901)	(97,000)	(309,675)	2,443,394

Analysis ofnet as	sets between funds
		Unrestricted	Endowment	Total Funds
		Funds	Funds f	2021 E
Tangible fixed assets		300		3DD
Investments		2,365	2,830,052	2,832,417
Current assets		43,988	11,619	55,8D7
Creditors less than	1 year	(5,705)		(5,705)
Net assets		40,948	2,841,671	2,882,819
		Unrestricted	Endowment	Total Funds
		Funds	Funds	2020
		F		f
Tangible fixed assets		350		350
Investments		2,365	2,432,089	2,434,454
Current assets		47,316	11,305	58,621
Creditors less than	1 year	(5,589)		(5,589)
Net assets		44,442	2,443,394	2,487,836

Financial in	struments
The carrying	amount for each	category offinancial	instrument	is as follows:
					2021	2020
						g
Financial assets measured		at fair value through	income	and expenditure
Fixed assets	investments				2,832,417	2,434,454