The Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021 Charity Commission Number 326340
The Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021 14 Trustee's Annual Report for the year ended 31 March 2021 The Mercers. Company asthe Trustee of The Mercers, Charitable Foundation (the Charity) presents its Annual Report and Audited Financial Statements for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting principles set out in note I to the financial statements and comply with the Charity's Trust Deed, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland. (FRS 102). Objectives and activities for public benefit The Charity s principal object is to make grants and donations for any charitable purpose as the Trustee shall in its discretion decide. The Charity is one of several charities that contributes to the people-based Philanthropy Framework co-ordinated by the Trustee. This framework comprises three major grant-making programmes (Young People & Education, Older People & Housing and Church & Communities) which reflect the intentions of the participating charities, benefactors. The programmes aim to tackle disadvantage by focusing on individuals, families, and communities and supporting organisations that help people to reach their potentiol in several ways including: by inspiring a love of learning,. strengthening self-belief and wellbeing,. and creating opportunities to live a balanced, rewarding and varied life. The Charity supports all three programmes. The Trustee confirms that it has complied with its duty under Section17 Charities Act 2011 to have due regard to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives, in planning future activities and in setting the grant making policy for the year. Grant Making Covid-19 has had a significant impact on the Charity's income and grant making. The Charity usually benefits from large annual donations from its Trustee, The Mercers, Company. The
22 November 2021
Tho Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021123 Statement of Financial Activities for the year ended 31 March 2021 31 Morch 31 March 2021 2020 Unrestricted Restricted Total Total Funds Funds Funds Funds Note £'ooo £'ooo £'ooo £'ooo Inco Donations 1,494 267 1,494 275 4,169 290 Investments Total incom• 1.761 1.769 4,459 Expendlture Raising fund&. Investment management costs Investment property costs Charitable activities. (21) (3) (i) (22) (3) (20) (89) Young People & Education Programme Older People & Housing Programme Church & Communities Programme othorProgrammes Totalexpendlture Gainsl(losses) on investment assets (2,362) (768) (3,130) (3,031) (1,107) (991) (372) (4,856) (1,107) (991) (372) (769) (5,625) (1,249) (1,636) (267) (6,292) 1,423 118 1,541 (716) Net•xpenditur• and net movemenl in funds {1,672) (643) (2,315) {2.549) Fund balances brought forward at I April Fund balances carried lorward at 31 18,997 932 19,929 22,478 March 17,325 289 17,614 19,929 All of the Charity s activities are derived from continuing operations. There are no recognised gains or losses other than those disclosed above.
The Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021124 Statement of Financial Activities for the year ended 31 March 2020 31 March 2020 Unrestricted Restricted Total Funds Funds Funds Note £'ooo £'ooo £'ooo Inco Donations 4,169 262 4,169 290 Investments 28 Total incom• 4,431 28 4,459 Expenditure Raising funds. Investment management costs Investment property costs Charitoble activities. (18) (89) (2) (20) (89) Young People & Education Programme Older People & Housing Programme Church & Communities Programme other Programmes Totalexpendlturo Losses on investment assets (2,890) (1,249) (1,636) (267) (6.149) (642) (2.360) 21,357 (141) (3,031) (1,249) (1,636) (267) (143) (6.292) (74) (716) (189) (2.549) 1,121 22.478 932 19,929 Netexpendlture and net movement In funds Fund bolances brought forward at l April Fund l>alances carrlod forward at 31 March 18,997 All ol the Charity s activities are derived from continuing operations. There are no recognised gains or losses other than those disclosed above.
The Mercers. Charitable Foundation Trustee's Annual Rewrt & Financial Statements 2021125 Balance Sheet as at 31 March 2021 31 March 2021 31 March 2020 Note £'ooo £'ooo £'ooo £'ooo Fixed assets Tangible assets Investment property Quoted & sociol investments 3,608 3,686 1,575 1,405 7,226 6,673 Total fixed assets 12,409 11,764 Current assets Debtors 68 68 Investments 5,495 Cashat bank and in hand 5,394 2,691 Total current assets 5,462 8,254 Creditors.. amounts falling due within one (257) (89) year Net current assets 5,205 8,165 Not ass•ts 17,614 19,929 The funds of the Charity. Restricted income funds 289 932 Unrestricted income funds 17,325 18,997 Total Charltyfunds 17.614 19,929 The attached notes on pages 27to 49form an integral part of these financial statements. The financial statements on pages 23 to 49were approved by the Trustee on18 November 2021 and signed on its behalf by.. Mr CJ Vermont Mr RM Abernethy Clerk to the Mercers, Company Master 18 November 2021
The Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021126 Cash Flow Statement for the year ended 31 March 2021 2021 2020 Note £'ooo £'ooo Cash flowsfrom operating activitie& Net cash used in operating activities Cash Ilows Irom investing activitiex Interest received 10 (5,319) (6,696) 13 20 Dividends received 202 201 Purchase of quoted investments (Increase)Idecrease in cash held by investment managers (2,458) (3,788) (42) 696 Proceeds from the sale of quoted investments 3,317 2,910 Proceeds trom the sale of gifted investments 1,495 4,124 Net cash provided by investing activities Change in cash and cash equivalentsln thefinancial 2,527 4,163 year {2,792} {2.533) Cash and cash equivalents at the beginning of th• financial year 8,186 10,719 Cash and cash equivalents attheend ofthefinancial yoar 10 5.394 8.186
The Mercers. Charitable Foundation Trustee's Annual Report & Financial Statements 2021 149 Legal & Administrative Information BANKERS LEGAL STATUS The Foundation was established by trust deed Barclays Bank PLC, dated16 Morch1983. The registered number I Churchill Place, London E14 5HP is 326340. INVESTMENT MANAGERS PRINCIPAL ADDRESS Rathbone Brothers PIC 6 Frederick's Place 8 Finsbury Circus London, EC2M 7AZ London EC2R 8AB INDEPENDENT AUDITOR PROPERTY MANAGEMENT Buzzacott LLP Knight Frank Pennant House, Napier Court, Reading, RGI 8BW 130 Wood Streel London, EC2V 6DL