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2022-12-31-accounts

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

Charity Registration No. 326790

THE SAINTBURY TRUST

Trustees’ Report and Financial Statements

31 December 2022

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

REPORT AND FINANCIAL STATEMENTS 2022

CONTENTS Page
Legal and administrative details 1
Trustees’ report 2 - 4
Trustees’ responsibilities statement 5
Independent auditor’s report 6 - 9
Statement of financial activities 10
Balance sheet 11 - 12
Notes to the financial statements 13 - 18

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

REPORT AND FINANCIAL STATEMENTS 2022

LEGAL AND ADMINISTRATIVE DETAILS

SETTLORS

Alan Christopher Bryant (died 14 July 2012) Jean Mary Bryant (died 31 August 2002)

TRUSTEES

Jane Philippa Lewis Anne Rosemary Thomas Victoria Karen Houghton Amanda Elizabeth Atkinson-Willes Harry Oliphant Forrester Cerian Elizabeth Brogan Anita Bhalla Benjamin Atkinson-Willes Jake Andrew Reynolds Houghton Sarah Eleri Wareing Kabir Prem Sondhi (appointed 22 April 2022)

PRINCIPAL ADDRESS OF CHARITY

PO Box 464 Dorking Surrey RH4 9AF

Charity Registration Number 326790

AUDITOR

Lakin Rose Limited Pioneer House Vision Park Cambridge CB24 9NL

ACCOUNTANTS

Deloitte LLP 1 Station Square Cambridge CB1 2GA

BANKERS

National Westminster Bank PLC Wylde Green Sutton Coldfield Birmingham B72 1YG

SOLICITORS

Mills and Reeve 78-84 Colmore Row Birmingham B3 2AB

INVESTMENT MANAGERS

RBC Brewin Dolphin Time Central Gallowgate, Newcastle upon Tyne, NE1 4SR

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THE SAINTBURY TRUST

TRUSTEES’ REPORT

The Trustees present their report and the audited financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charities Act 2011, the Financial Reporting Standard 102 (effective January 2019) and the provisions of the trust deed.

Structure, governance and management

The Saintbury Trust is an unincorporated trust, constituted under a trust deed dated 2 January 1985 with funds provided by Alan Christopher Bryant and his wife, Jean Mary Bryant. It is a registered charity, charity number 326790.

The power of appointing new trustees is vested in the Trustees. On appointment, new trustees are provided with information on the structure, administration, policies and procedures of the Trust and the duties of the Trustees. Where appropriate, and depending on the existing knowledge and experience in the charities sector of the incoming Trustee, any new Trustee is encouraged to consider whether they would benefit from external training.

Details of the Trustees who served during the year and since the year-end are set out on page 1. The Trustees provide their services without charge and no Trustees’ remuneration was paid during the year.

All matters of policy and management are determined by the Trustees who routinely meet twice a year and as circumstances require. The Trustees rotate as chair of the regular twice-yearly meetings.

With effect from 1 June 2022 the Trust appointed a new external administrator with a view to her taking over the administrative functions of the Trust from the previous team. It was expected that the hand-over would take about a year in order to achieve a smooth transition and that procedure is on track.

Risk management

Having regard to the Trust’s organisation and activities, it is the view of the Trustees that the major risks to which the Trust may be exposed are largely financial in nature.

The Trustees review the major risks which the Trust faces on a regular basis and believe that maintaining free reserves at the levels indicated below provides sufficient resources to support the likely level of future grants awarded and the continuing administration of the Trust.

The two main risks to the Charity are the protection of assets and the integrity of the grant making process. The Trustees are advised on investment matters by the Trust’s investment managers, RBC Brewin Dolphin, and meet with them annually to consider performance. The Trustees have wide powers of investment under the trust deed.

The Trustees’ criteria for making grants and their procedures are set out in ‘Objectives and activities’. These are reviewed from time to time. The day to day administration, together with the processing and handling of applications as well as background checks on potential recipients of grants prior to consideration by the Trustees, will be dealt with by the administrator but all grant-making decisions will continue to be made by the Trustees at one of their regular twice-yearly meetings. The Trustees are required to disclose all relevant interests and third party transactions, any and all of which are recorded within the annual financial statements.

The Trustees consider that they have the systems and procedures in place to mitigate these identified risks as far as possible.

Objectives and activities

The objects of the charity including the grant making policy are as follows:-

During the initial period, the Trustees had the power to pay or apply the income and also so much of the capital of the Trust Fund as the Settlors or the survivor of them might from time to time direct to such charities or charitable purposes (other than charities or charitable purposes for the benefit of animals) and in such proportions, terms and conditions as the Settlors might from time to time direct and subject to and in default of any such direction as the Trustees might at their uncontrolled discretion determine.

The initial period ceased on 2 January 2010 (being 25 years from January 1985). Since then, the Trustees have had and, continue to have, the power to pay or apply the capital and income to charities or for charitable purposes at their discretion (other than charities or charitable purposes for the benefit of animals).

The accumulation period ended on 2 January 2006. From this date, the whole of the net available annual income has to be distributed by the Trustees.

The Trust’s aim is to assist such other charities as the Trustees in their absolute discretion think fit in achieving their aims by awarding grants. The Trust aims to award grants each year to other charities totalling at least the Trust’s net

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THE SAINTBURY TRUST

TRUSTEES’ REPORT

available income; the Trustees may also, if they see fit, have recourse to the accumulated income and/or capital in achieving its aims.

At the November 2021 meeting the Trustees concluded their review of the Trust’s geographical eligibility criteria and new criteria were introduced with effect from January 2022. The new criteria were based solely on Post-code Districts; there was no longer a County test. The new tests reduced the geographical area within the CV, GL, DY, WR and WV Post-code Areas, in some cases quite substantially, but there were no significant changes for charities within Postcode Areas B and WS. Intending applicants (including applicants that have previously applied to the Trust) must visit the Trust’s website to check eligibility. No changes were made to the other eligibility criteria.

It remains a requirement that all applications must be made on the Trust’s application form and it is now a requirement that all applications be submitted on-line to admin@thesaintburytrust.co.uk – posted applications will no longer be accepted.

The Trustees have absolute discretion as to whether to approve any particular application and will not give reasons for any refusal.

Achievements and performance

In 2022 grants totalled £287,000 to 61 different charities. Three grants of £20,000 were made to each of The Air Ambulance Service, Alzheimer’s Research UK and Birmingham Boys and Girls Union. The majority of grants remain within the £2,000 to £5,000 range.

The economic consequences of the Coronavirus global pandemic seemed to lessen during 2022, at least so far as the long-term is concerned, but other economic factors, partly arising from political matters had an effect. Although there was a modest increase in the income over the 2021 figure of approximately 3%, the gross income for 2022 was only about 56% of the 2019 figure. The Trustees are not expecting a recovery to 2019 levels within the forseeable future, but it should be borne in mind that pre-2020 income figures were raised to abnormally high levels by the payment of significant special dividends by Taylor Wimpey plc and comparisons with 2019 income figures are net of the 2019 special dividend. As in 2020 the Trustees had recourse in 2022 to the Trust’s Reserves in awarding grants and expect to do the same in 2023.

The official Saintbury Trust website not only clearly sets out the history and background to the charity, the criteria under which grant applications will be considered, and the conditions which will be imposed on grants made but also enables the grant application form to be downloaded.

Public Benefit

The Trustees have considered the Charity Commission’s guidance on the operation of public benefit under the Charities Act 2011 and consider that the requirements have been met.

Financial review and investment policy

The incoming resources of the Trust for the year ended 31 December 2022, excluding investment gains and losses, amounted to £298,998. £287,000 was distributed by way of charitable grants and other expenses absorbed £82,038 leaving net expenditure for the year, excluding investment gains and losses, of £70,040.

The Trustees aim to distribute the available net income as detailed in the objectives and activities section of the Trustees’ report above. As also referred to above, the Trustees have had recourse to the Trust’s reserves in 2022, as in 2020 and 2021, to top up the amount of grant expenditure and expect to do the same in 2023. Decisions on awarding grants are made by the Trustees at the two regular meetings held each year.

During the year, a number of investments were disposed of and realised a net gain of £164,724. The value of the investments decreased from £15,088,099 (December 2021), to £12,569,961 (December 2022).

The Trustees have wide powers of investment and the overall objective is to maximise the long term return of the Trust’s funds. The portfolio should be well balanced over the sectors and avoid high risk investments. For historical reasons, there was a concentration in the house building sector. Prior to 2022, the Trustees carried out a policy of a gradual reduction in the Trust’s exposure to this sector and, as from the beginning of 2022 to date, the Trustees consider that the current level of exposure was, and remains, appropriate. The Trustees maintain a written investment policy that further details the management, risk and ethical policy of the investment funds.

Reserves policy

It is the policy of the Trustees to maintain the general unrestricted funds at a level to provide sufficient funds in reserves to meet the future anticipated demands on the Trust’s resources. The number of applications received in 2022 showed a modest decrease over the 2021 figure but still stood at approximately 50% of their 2019 level. The Trustees

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THE SAINTBURY TRUST

TRUSTEES’ REPORT

expect the number of applications received to increase year on year but at a comparatively modest level. Having regard to the likely levels of incoming resources and direct charitable expenditure, the Trustees are satisfied that the funds and assets at 31 December 2022 as reflected in the balance sheet are available and adequate for the Trustees to fulfil the obligations of the Charity and maintain its operations.

Plans for the future

The Trustees have been in discussions to receive capital funding from another charity.

The Trustees aim to continue to provide grants to help the preferred charitable objects but these plans are subject to geopolitical considerations that are beyond the Trustees’ control.

On behalf of the Trustees

J P Lewis

24 October 2023 | 10:19:10 BST Date………………………….

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

TRUSTEES’ RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Financial Reporting Standard 102 (effective January 2019) and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the Trustees

J P Lewis

24 October 2023 | 10:19:10 BST Date………..……………….

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES

Opinion

We have audited the financial statements of The Saintbury Trust (the 'charity') for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES

have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following:

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or to avoid a material penalty. We identified no such laws and regulations applicable to the charity.

Audit response to risks identified

As a result of performing the above, we identified revenue recognition as a key audit risk related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Use of our report

This report is made solely to the Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do

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THE SAINTBURY TRUST

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES

not accept or assume responsibility to anyone other than the Trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Lakin Rose Limited

Chartered Accountants Statutory Auditors

Pioneer House, Vision Park, Histon, Cambridge, CB24 9NL Date: 24 October 2023 | 12:26:47 BST

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2022

Note
Income
Income from generated funds
Investment income
Investment income
Interest receivable
Income tax recoverable
Accrued income
Realised gain/(loss) on investments
8
Unrealised (loss)/gain on investments
8
Total income
Cost of generating funds
Investment management costs
Charitable activities
Grants payable
6
Governance costs
7
Support costs
7
Other costs
5
Total expenditure
Net (expenditure)/income
Net movement in funds
Balances brought forward at 1 January
Balances carried forward at 31 December		 Income
fund
£
Capital
fund
£
Total
Unrestric-
ted Funds
2022
£
Total
Unrestric-
ted Funds
2021
£
297,541
-
297,541
288,187
1,457
-
1,457
4
-
-
(1,043)
-
(1,043)
2,570
-
164,724
164,724
(311,553)
-
(2,397,010)
(2,397,010)
1,601,365
298,998
(2,233,329)
(1,934,331)
1,580,573
52,550
-
52,550
54,553
287,000
-
287,000
263,000
16,200
-
16,200
12,060
9,028
-
9,028
1,224
4,260
-
4,260
-
(369,038)
-
(369,038)
(330,837)
(70,040)
(2,233,329)
(2,303,369)
1,249,736
117,328
15,481,042
15,598,370
14,348,634
47,288
13,247,713
13,295,001
15,598,370

All recognised realised gains and losses on investments have been included in the Statement of Financial Activities and the amounts included are derived from continuing activities of the Trust.

The notes on pages 13 to 18 form part of these financial statements.

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

BALANCE SHEET 31 December 2022

BALANCE SHEET
31 December 2022
Total Total
Unrestric- Unrestric-
ted Funds ted Funds
Note 2022 2021
£ £
FIXED ASSETS
Investments 8 12,569,961 15,088,099
CURRENT ASSETS
Debtors
Dividends receivable 18,876 26,560
Interest receivable 1,353 -
Income tax recoverable - 4,260
Investments
Funds held by stockbrokers 541,581 298,300
Cash at bank and in hand 182,022 193,567
743,832 522,687
CREDITORS: amounts falling due
within one year 9 (18,792) (12,416)
NET CURRENT ASSETS 725,040 510,271
NET ASSETS 10 13,295,001 15,598,370
The funds of the charity
Capital 13,247,713 15,481,042
Income 47,288 117,328
13,295,001 15,598,370

The notes on pages 13 to 18 form part of these financial statements.

Approved and signed by the Trustees on : 24 October 2023 | 10:19:10 BST

……………………………......... ……………………………………. Jane Philippa Lewis Anne Rosemary Thomas ………………………………… ………………..…………………… Victoria Karen Houghton Amanda Elizabeth Atkinson-Willes ...................................................... .......................................................... Harry Oliphant Forrester Cerian Elizabeth Brogan .......................................................... .......................................................... Anita Bhalla Benjamin Atkinson-Willes

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

BALANCE SHEET 31 December 2022

----- Start of picture text -----
…………………………….........
----- End of picture text -----

……………………………......... ……………………………………. Jake Andrew Reynolds Houghton Sarah Eleri Wareing

…………………………….........

Kabir Prem Sondhi

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THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP January 2019), Financial Reporting 102 and applicable United Kingdom accounting standards. The particular accounting policies adopted by the Trustees are described below.

Going concern

The Trustees consider that the charity has sufficient resources to continue in operational existence for the foreseeable future. The Trustees have a reasonable expectation that the charity is well placed to manage its business successfully despite the current uncertain economic outlook. Accordingly they continue to adopt a going concern basis in preparing the financial statements.

Basis of accounting

The financial statements have been drawn up under the historical cost convention as modified by the revaluation of investments.

Income

All income is recognised in the Statement of Financial Activities when the conditions for entitlement and receipt have been met and there is reasonable assurance of receipt.

Charitable activities

Grants made by the Trust are charged against income in the year in which they are awarded.

Support and Governance costs

Governance costs are the administrative and management costs in support of charitable objects. These costs include audit and other costs associated with statutory requirements.

Investments

Listed investments are stated at closing middle market price as at 31 December 2022. All movements in value are shown in the Statement of Financial Activities. Income from listed investments is recognised as income when due together with any associated recoverable income tax or tax credit.

Realised and unrealised gains and losses are shown separately in the appropriate section of the Statement of Financial Activities.

2. CHARITABLE STATUS

The Trust is a registered charity, and is exempt from income and corporation and capital gains tax provided its income and gains are applied for charitable purposes.

3. TRUSTEES’ REMUNERATION

No remuneration or expenses were paid or payable in respect of the current year out of the funds of the Trust either directly or indirectly to any trustee. In 2021 £190 was paid in trustee expenses.

4. EMPLOYEES

There were no full or part time employees during the current or prior year.

5. IMPAIRMENT LOSS

The trustees recognized an impairment loss of £4,260 in respect of withheld income tax that they deemed noncommercial to recover. This is included under other costs in the Statement of Financial Activities.

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THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

6. GRANTS PAYABLE

The following grants were made in accordance with the Trust’s objects:

Page
Grants (note 12)
10
7.
SUPPORT AND GOVERNANCE COSTS
Governance costs
Fees for audit services
Fees for other accountancy services
Fees – underprovision in previous year
Support costs
Office costs
Trustees expenses
Administration fees
Bank charges
8.
INVESTMENTS
Market value at 1 January
Additions at cost
Sale proceeds from disposals
Realised gain
Unrealised loss on revaluation
Market value at 31 December
Historical cost at 31 December
Total investments
Listed investments
Cash deposits held as part of investment portfolio		 2022
2021
Number
Amount
£
Number
Amount
£
61
287,000
68
263,000
Page
2022
£
2021
£
4,200
4,200
12,000
-
7,560
300
10
16,200
12,060
1,970
-
7,000
57
1,034
190
-
-
10
9,027
1,224
Page
2022
£
2021
£
15,088,099
13,882,219
775,958
1,000,640
(1,061,810)
(1,084,572)
10
164,724
(311,553)
10
(2,397,010)
1,601,365
11
12,569,961
15,088,099
9,980,820
10,101,947
12,569,961
15,088,099
541,581
298,300
13,111,542
15,386,399

The trustees consider individual investment holdings in excess of 5% of the portfolio to be material. The following investment at market value, represents 5.29% of the market value of the portfolio:

£

420,037 JP Morgan Fund US Equity

664,498

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DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Page
Accountancy and audit charges
Expenses due
11		 2022
£
16,200
2,592
18,792		 2021
£
11,760
656
12,416

10. ANALYSIS OF ASSETS BETWEEN FUNDS

Page
Capital
fund
£
Listed investments
12,569,961
Funds held by stockbrokers
541,581
Dividends receivable
-
Interest receivable
-
Income tax recoverable
-
Cash at bank and in hand
136,171
13,247,713
Less liabilities
-
11
13,247,713		 Income
fund
£
Total
Unrestric-
ted Funds
2022
£
Total
Unrestric-
ted Funds
2021
£
-
12,569,961
15,088,099
541,581
298,300
18,876
18,876
26,560
1,353
1,353
-
-
-
4,260
45,851
182,022
193,567
66,080
13,313,793
15,610,786
(18,792)
(18,792)
(12,416)
47,288
13,295,001
15,598,370

The capital comprises:

(ii) Movements in the investment portfolio;

(iii) Costs of maintaining the capital such as brokers’ fees;

11. RELATED PARTY TRANSACTIONS

During the year the charity made a total grant of £10,000 (2021: £15,000) to B:Music of which Ms A Bhalla is a trustee.

The charity made a grant of £4,000 (2021: £nil) to Institute of International Visual Arts of which Ms A Bhalla is a trustee.

The charity made a grant of £6,000 (2021: £nil) to The Royal Shakespeare Company of which Ms A Bhalla is a governor.

The charity made a grant of £5,000 (2021: £nil) to Hope Projects (West Midlands) Limited of which Ms A Bhalla’s husband is a trustee.

15

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

12.
CHARITABLE GRANTS
1. Prevention or Relief of Poverty
Karis Neighbour Scheme
Spitfire Support and Advice Services Limited
Total
2. The Advancement of Education
Birmingham Boys and Girls Union
Sandwell Asian Development Association
Total
3. The Advancement of Health or the Saving of Lives
The Air Ambulance Service
Alzheimer's Research UK
Birmingham Women's and Children's Hospital Charity
Cobalt Health
Gloucestershire Hospitals NHS Foundation Trust General
Charitable Fund
Total
4. The Advancement of Arts, Culture, Heritage or Science
B:Music
Big Brum (Theatre in Education) Company Limited
Birmingham Bach Choir
Birmingham Hippodrome Theatre Trust
Birmingham Opera Company
Birmingham Repertory Theatre
Black Country Touring
Broadway Arts Festival
Celebrating Sanctuary
Flatpack Projects
Institute of International Visual Arts
Longborough Festival Opera
Midlands Arts Centre
National Youth Orchestra of Great Britain
Royal Shakespeare Company
Services for Education
Severn Arts
Total		 £
£
£
2,000
3,000
5,000
20,000
2,000
22,000
20,000
20,000
12,000
7,000
3,000
62,000
10,000
2,000
1,000
5,000
4,000
3,000
3,000
1,000
2,000
4,000
4,000
2,000
10,000
3,000
6,000
3,000
2,000
65,000

16

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

12. CHARITABLE GRANTS

5. The Advancement of Environmental Protection or
Improvement
Warley Woods Community Trust Limited
Total
6. The Relief of those in Need by reason of Youth, Age,
Ill-Health, Disability, Financial Hardship or Other
Disadvantage
6a. Care of the Dying
Acorns Children’s Hospice Trust
Longfield Hospice Care
St. Richard’s Hospice Foundation
The Shakespeare Hospice
Shipston Home Nursing
Total
6b. Childhood & Youth
Ackers Adventures
Beyond The Horizon
The Birmingham Settlement
Cannon Street Memorial Baptist Church
ecobirmingham
The Haven, Wolverhampton
The Jericho Foundation
Missing People Limited
Sport4Life UK
Street Teams
Total
6c. Community
Garage Art Group
Open Door Community Foundation
Total		 £
£
£
2,000
2,000
10,000
2,000
10,000
4,000
3,000
29,000
3,000
2,000
5,000
2,000
3,000
3,000
2,000
5,000
3,000
2,000
____
30,000
2,000
3,000
____
5,000
_
_

17

DocuSign Envelope ID: EFAD1F21-15A5-4DAA-88B5-17132485B7E5

THE SAINTBURY TRUST

NOTES TO THE FINANCIAL STATEMENTS 31 December 2022

6d. Disability & Ill-health
Acacia Family Support
Birmingham Disability Resource Centre
Disability Challengers
The Foundation for Conductive Education
Goals Beyond Grass
Home From Hospital, Care After Treatment
Martineau Gardens
National Star Foundation Trust
Sahara (Coventry) Limited
Where Next Association
Wildgoose Rural Training
Total
6e. Homelessness
Cirencester Housing for Young People
Coventry Citizens Advice
Hope Projects (West Midlands) Limited
St. Anne’s Hostel
Total
6f. Old Age
Better Understanding of Dementia for Sandwell
Cotswold Friends
Total		 3,000
2,000
7,000
10,000
2,000
2,000
2,000
15,000
1,000
2,000
2,000
___
48,000
3,000
2,000
5,000
4,000
14,000
3,000
2,000
5,000

131,000

Total grants approved in 2022 287,000

18