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2021-04-05-accounts

Charity Registration No. 328394

THE THOMAS FARR CHARITY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2021

THE THOMAS FARR CHARITY

CONTENTS

Page
Legal and administrative information 1
Trustees' report 2 - 4
Statement of Trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Statement of financial position 10
Statement of cash flows 11
Notes to the accounts 12 - 20
Schedule of investments and income 21 - 31

THE THOMAS FARR CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Henry Farr
Mrs Amanda Farr
Rathbone Trust Company Limited
Mr Philip Pruden
Charity number 328394
Registered office / address for appeals 6A The Almshouses
Mansfield Road
Daybrook
Nottingham
NG5 6BW
Auditor Gilbert Allen & Co
Churchdown Chambers
Bordyke
Tonbridge
Kent
TN9 1NR
Bankers National Westminster Bank plc
134 Front Street
Arnold
Nottingham
NG5 7BF
Legal advisors Penningtons Manches Cooper LLP
125 Wood Street
London
EC2V 7AW
Investment managers Rathbone Investment Management Limited
8 Finsbury Circus
London
EC2M 7AZ

THE THOMAS FARR CHARITY

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

The Trustees present their annual report and financial statements for the year ended 5 April 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with 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) (effective 1 January 2015).

Objectives and activities

The Thomas Farr Charitable Trust was created by Deed dated 17 October 1989.

The Trustees shall hold the capital and the income of the Trust Fund upon trust to apply income and, as far as may be necessary, the capital for or towards such charitable purposes and to make donations to such charitable bodies or institutions at such times and in such manner as the Trustees may, in their absolute discretion, think fit.

We confirm that there have been no changes in the charity's objectives during the year.

Public benefit

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission.

The Trustees support a number of charitable organisations, as shown within note 5 to the financial statements. The Trustees believe all the donations made are for the benefit of the public.

Grant-making policies

Currently the Trustees' policy is to accumulate all written appeals received and to consider them on their individual merits at each Trustee meeting. Only successful applicants are notified of the Trustees' decision.

During the year under review, the Trustees resolved to make a number of donations, as detailed in note 16 of these accounts. All donations are made without any implication or commitment to future donations.

Risk management

The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees consider variability of investment returns to constitute the charity's major risk. This is mitigated by retaining expert investment managers and having a diversified investment portfolio.

Financial review

Total incoming resources were £264,052 (£310,071 in 2020), with £355,598 (£268,575 in 2020) being committed to charitable donations and £27,677 (£27,068 in 2020) relating to costs of generating funds and £22,562 (£22,725 in 2020) relating to governance costs, resulting in net outgoing resources of £141,785 (outgoing £8,297 in 2020)

The total movement of resources in the year also includes the realised gain in the year £298,713 (loss of £108,946 in 2020) and an unrealised gain based upon the market value of the investments at the year end of £2,204,869 (loss of £1,789,131 in 2020). The overall movement of resources in the year showed an increase of £2,361,767 (decrease of £1,906,374 in 2020)

Reserves

The Trustees consider their investments as part of an unrestricted fund, providing a relatively secure and predictable stream of income from which to make grants. The Trustees aim to distribute a large percentage of the income, net of expenses, in each financial year and therefore do not maintain income reserves as such, however, income levels are continually reviewed by the Trustees at the annual meetings to ensure that they have sufficient funds to meet with their objectives.

THE THOMAS FARR CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021

Investment performance and policy

The investment objective for the charity is to provide an income yield of 3%, predominately in sterling, as well as real capital growth, in line with the agreed bespoke benchmark of 60% FTSE All Share, 30% FTSE All World Ex UK and 10% cash, as determined by Rathbones' terms of business, in line with risk strategy 5.

Over the last 12 months, there has been a sharp recovery of the markets following the impacts of Covid, supported by the unprecedented monetary stimulus from central banks. Thus, over the last year, the total return was 40.4%. This compares to an increase in the FT 100 index of 28.6%. The personal benchmark rose by 34.0%. The ARC Sterling Equity Risk Index increased 34.8% and the Steady Growth Index increased 26.9%. As a reminder these indices, reflect a broad range of private client portfolios across the industry, which will have a higher international exposure and are less income constrained than the charity.

As the year progressed there was positive news regarding the development of vaccines, the Democrat victory in the US election and a resolution of Brexit which resulted in markets finishing the year on a strong note. These positive developments have led to hopes for a quicker economic recovery. Since the last quarter of 2020 we had seen a recovery in value and cyclical companies. This reflects hopes for effective vaccine deployment and uptake, and thus some optimism that the economic recovery will continue, whilst economic data has also been improving, positive for earnings growth for companies across the world.

As at 5th April 2021, the asset allocation is as follows: Equity exposure is 85% of which 49% is in the UK and 36% is in international markets. This continues to be diversified across a mix of geographies having 16% in North America, 7% in Japan and Asia, and 13% in global income funds. The balance of non-equity investments is held in a mixture of cash and actively managed strategies.

Current dividends are forecast to be some £262,753 per annum, which is a yield of 2.8%. Many companies have started to reinstate dividends and at the time of writing, dividends being distribution are recovering faster than we had predicted and therefore we believe the income yield will be nearer 3% next year. To confirm, of the investments held none exceed 10% of the total portfolio value.

Over the period profits were taken on weaker performing stocks which the investment manager felt would be impacted by Covid including Great Portland Estates and Compass Group, as well as London Stock Exchange given worries over their synergy targets following the Refinitiv acquisition. The investment manager also sold GlaxoSmithKline, Vodafone and Unilever following a weak trading statements and a lacklustre outlook. Exposure to Japan was reduced and some profits were taken on the Baillie Gifford US Growth Trust to invest in other opportunities including the JP Morgan US Smaller Companies Investment Trust and the Blackrock World Mining fund, which the investment manager anticipates will perform well as the economy recovers. An opportunity was also taken to increase exposure to some more cyclical and recovery stocks including buying Diageo, Barclays and Melrose. Also, the investment manager increased the Charity's exposure to alternatives, buying Greencoat UK Wind and Gore Street Energy, being renewable infrastructure fund which yields over 5%.

The investment manager has raised the prospect of continued market volatility. While the global vaccination programme gives some optimism for a gradual reopening of the global economy, there are still many difficulties to overcome including the impact of new variants and confidence in the vaccination programmes. Some economic forecasts could thus be over optimistic at a time when equity valuations are already reasonably high. Uncertainty over inflation and rising bond yields are another cause for concern. While 2020 saw the end of Brexit and a change in the US president, global politics is still unsettled with issues over China and more recently Russia and the Ukraine all adding to the uncertainty caused by Covid. That all said, the global economy is improving and in the absence of any material opportunities in bond markets, the continuing low interest environment and with central bank support still in place, equity markets still offer reasonable real returns, with many companies capitalising on the radical changes we are experiencing. Equity markets also offer reasonable yields and improving dividend growth at a time of low returns from cash and bonds.

Risks

The Trustees have not identified any major risks other than stock market fluctuations and they will continue to monitor the adequacy of their system.

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THE THOMAS FARR CHARITY

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2021

The Trustees are responsible for preparing the Trustees' 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 year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient 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 Charity (Accounts and Reports) Regulations 2008 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 THOMAS FARR CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE THOMAS FARR CHARITY

Opinion

We have audited the financial statements of The Thomas Farr Charity (the ‘Charity’) for the year ended 5 April 2021 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, 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).

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 Auditor's 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 UK, including the FRC’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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we 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.

THE THOMAS FARR CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE THOMAS FARR CHARITY

Matters on which we are required to report by exception

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

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they 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 cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

THE THOMAS FARR CHARITY INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE THOMAS FARR CHARITY A further description ol our responsibilities is available on the Finanaal Reporting Council's website al.. https'.11 www.frc.org.uklauditOfsresponsibililies. This descriplion fornis part of tyjr auditorfs report. Use of our r•port This report is rnade solely to the charity's truslees. as a body. in accordance wilh part 4 of the Charilitss (Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might stale lo the charilvs Iruslees those matters we are required lo slate to them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility lo anyone other than the charity and the charity's tnjstees as a body. for our audit work, for this report, Of for thè opinions we have formed. Gllbert Allan & Co Chartèrèd Accountants Statutory Auditor Chuf¢hdown Chambers Bofdykè Tonbridge Kent TN9 INR Gilberi Allen & Co is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment a5 auditor ol a company under section 1212 01 the Cornpanies kt 2006.

THE THOMAS FARR CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2021

Notes
Income
Income arising from investments
3
Other income
4
Total income
Expenditure
Charitable activities
5
Net income before investment gains/(losses)
Net gains/(loss) on investments
10
Net movement in funds
Fund balances at 6 April 2020
Fund balances at 5 April 2021		 2021
2020
£
£
261,560
308,771
2,492
1,300
264,052
310,071
405,837
318,368
(141,785)
(8,297)
2,503,582
(1,898,077)
2,361,797
(1,906,374)
7,018,224
8,924,598
9,380,021
7,018,224

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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THE THOMAS FARR CHARITY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2021

2021 2020
Notes £ £ £ £
Cash flows from operating activities
Cash absorbed by operations 15 (296,343) (316,364)
Investing activities
Proceeds on disposal of investments 2,716,023 1,659,815
Purchase of other investments (2,542,443) (1,762,332)
Dividends and interest received from investments 261,560 308,771
Net cash generated from investing
activities 435,140 206,254
Net increase/(decrease) in cash and cash
equivalents 138,797 (110,110)
Cash and cash equivalents at beginning of year 268,030 378,140
Cash and cash equivalents at end of
year 406,827 268,030

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

Charity information

The Thomas Farr Charity is an unincorporated charity.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102 and the Charities Act 2011. The Charity is a Public Benefit Entity as defined by FRS 102.

Assets and liabilities are initially recognised as historical cost or transaction value unless otherwise stated in the relevant policy note.

1.2 Going concern

The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future.

1.3 Charitable funds

Grants are included in the financial statements when approved by the Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued. Grants offered that are subject to conditions that have not been met at the year end are noted as a commitment but not accrued as expenditure.

1.4 Incoming resources

Investment income is accounted for on an accruals basis in the period to which it relates.

1.5 Debtors

Debtors are receivable at their expected settlement amount.

1.6 Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7 Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

1.8 Resources expended

Management and administration costs comprise those costs incurred in running the charity. They have been apportioned on the basis of time spent between charitable activities, cost of raising funds and governance costs.

Governance costs consist of those costs associated with the overall running of the charity and meeting statutory and regulatory requirements.

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

1 Accounting policies

(Continued)

1.9 Financial instruments

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

The Trust does not acquire put options, derivatives or other complex financial instruments.

1.10 Investments

Fixed assets investments represent listed investments which are stated at market valuation, where market value represents the mid market value on the last trading day before the year end. Any unrealised or realised gains arising from investments are accounted for in the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income arising from investments

Income from listed investments
Fixed interest
Foreign income
REITS
Accrued interest		 2021
£
215,365
17,212
23,770
5,213
-
261,560		 2020
£
248,669
14,860
36,473
7,774
995
308,771

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

4 Other income

Bank interest
Compensation
Accrued interest charge
Returned donation		 2021
£
5
-
487
2,000
2,492		 2020
£
1,150
150
-
-
1,300

5 Charitable activities

Grant funding of activities (see note 6)
Share of support costs (see note 7)
Share of governance costs (see note 7)		 2021
£
355,598
27,677
22,562
405,837		 2020
£
268,575
27,068
22,725
318,368

6 Grants payable

Children
Community Projects
Disability
Education
Elderly
Homeless
Hospitals/Health
Museums/Theatre
Religion
Sport
Youth Organisations		 2021
£
18,000
132,681
89,756
14,780
21,400
18,068
30,123
2,000
5,000
14,790
9,000
355,598		 2020
£
29,900
50,546
48,309
31,000
24,481
29,000
27,000
-
-
3,500
24,839
268,575

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

7 Support costs

Investment management fees
Trustee fees
Auditor fees
Professional fees
Legal fees
Office expenses
Office rent		 Support
costs
Governance
costs
£
£
27,677
-
-
500
-
1,860
-
19,000
-
-
-
202
-
1,000
27,677
22,562		 2021
£
27,677
500
1,860
19,000
-
202
1,000
50,239		 2020 Basis of allocation
£
27,068
300 Governance
2,040 Governance
19,000 Governance
276 Governance
109 Governance
1,000 Governance
49,793

8 Trustees

During the year Rathbone Trust Company Limited charged £500 and received £300 fees, the amount outstanding at the year end was £500 (£300 in 2020).

9 Employees

There were no employees during the year, or the previous year.

10 Net gains/(losses) on investments

Unrealised gain/(loss)
(Loss) on sale of investments		 2021
2020
£
£
2,204,869
(1,789,131)
298,713
(108,946)
2,503,582
(1,898,077)

11 Fixed asset investments

Listed
investments
£
Cost or valuation
At 5 April 2020
6,754,981
Additions
2,542,443
Realised (loss)
298,713
Unrealised loss
2,204,869
Cash invested
-
Disposals
(2,716,023)
At 5 April 2021
9,084,983		 Cash in
portfolio
Total
£
£
100,236
6,855,217
-
2,542,443
-
298,713
-
2,204,869
258,508
258,508
-
(2,716,023)
358,744
9,443,727

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

11
Fixed asset investments
Listed investments
Cash in investment portfolio
Historic cost of investments
12
Debtors falling due within one year
Accrued income
13
Creditors falling due within one year
Investment managment fee
Professional fees
Auditors fee
Donations outstanding
Legal fees
Office rent
Unsettled investment purchase		 (Continued)
2021
2020
£
£
9,084,983
6,754,981
358,744
100,236
9,443,727
6,855,217
6,952,773
6,849,459
2021
2020
£
£
9,590
9,591
2021
2020
£
£
7,375
5,524
500
300
1,860
1,860
-
6,418
276
276
1,000
-
110,368
-
121,379
14,378		 (Continued)
2021
2020
£
£
9,084,983
6,754,981
358,744
100,236
9,443,727
6,855,217
6,952,773
6,849,459
2021
2020
£
£
9,590
9,591
2021
2020
£
£
7,375
5,524
500
300
1,860
1,860
-
6,418
276
276
1,000
-
110,368
-
121,379
14,378
6,855,217
6,849,459
2020
£
9,591
2020
£
5,524
300
1,860
6,418
276
-
-
14,378

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

14 Related party transactions

The following payments were made to institutions in which Trustees of the Charity were also Trustees of:

Rathbone Investment Management (RIM) and Rathbone Trust Company (RTC) are both wholly owned subsidiaries of Rathbone Brothers Plc. The investment management is undertaken by RIM at their standard terms as offered to other charities, RTC are not obliged to appoint or retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management. The matter is monitored and kept under review to ensure that the charity receives appropriate and cost effective investment management services.

15 Cash generated from operations

Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of investments
Fair value gains and losses on investments
Movements in working capital:
Decrease in debtors
Increase/(decrease) in creditors
Cash absorbed by operations
16
Cash and cash equivalents
Cash at bank and in hand
Cash invested		 2021
2020
£
£
2,361,797
(1,906,374)
(261,560)
(308,771)
(298,713)
108,946
(2,204,869)
1,789,131
1
9,005
107,001
(8,301)
(296,343)
(316,364)
2021
2020
£
£
48,083
167,794
358,744
100,236
406,827
268,030

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

17 Donations made during the year

A J Sport Academy CIC
Acacia Centre
Arkwright Meadows Community Gardens
Ashfield Citizen Advice Bureau
BASE 51
Bassetlaw Citizens Advice Bureau
Beaumond House Community Hospice
Belong Nottingham
Breaking Barriers Building Bridges
Canine Partners
Citizens Advice Sherwood & Newark
CLIC Sargent
Clipstone Miners Welfare Trust
Collingham Rural Advice and Resource Centre
Deafblind UK
Disability Nottinghamshire
Dog Assistance in Disability
East African Education Centre
Ellerslie Circket Club
Equation
Evolve Housing Association
FC SEZ
Freedom Foundation CIC
Friary Drop In Centre
Grace Enterprises Nottingham Limited
Greenheart
Greenway Community Centre
Greyfriars Community Interest Social Club
Himmah
ISAS
Listening Books
Literacy Volunteers
Mansfield All Stars Amateur Boxing Club
Mansfield and District Citizens Advice Bureau
Nottinghamshire Community Foundation
Newark Live at Home Scheme
Nonsuch Theatre Ltd
Nottingham City of Literature
Nottingham Law Centre
Nottinghamshire Clubs for Young People Limited
Nottinghamshire Guided Walks Initiative
Nottinghamshire Historic Churches Trust
Nottinghamshire Mind
Notts County FC Community Programme
Carried forward		 2021
£
5,000
4,000
3,000
3,632
3,000
4,500
5,000
2,440
5,000
1,000
5,000
5,000
2,669
5,000
1,000
2,000
2,000
2,540
250
5,000
3,068
500
3,000
5,000
5,000
2,500
3,000
5,000
2,000
3,000
2,000
2,000
2,000
5,000
10,000
2,200
5,000
3,000
5,000
4,000
1,000
5,000
5,000
2,540
152,839

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

17 Donations made during the year (Continued)
Brought forward 152,839
OASIS Community Centre (Worksop) 5,000
Open Homes Nottingham 5,000
OWEN Open Water Education Network 2,000
PASIC Cancer support for children and young people 2,000
Phoenix Farm Open Door Project - The Ark 5,000
Pintsize Theatre Company 3,000
Place2Be 3,000
Police Community Clubs of Great Britain 1,000
Portland College 50,000
Radford Care Group 5,000
Reach Learning Disability 20,000
Rebalancing the Outer Estates Foundation 2,500
Relate Nottinghamshire 4,000
Revitalise Respite Holidays 2,000
RISE Learning Zone CIC 3,000
SANDS 2,173
Sharewear Clothing Scheme 2,000
Shaw Mind Foundation 4,950
Southwell and District Live at Home Scheme 2,200
Spinal Injuries Association 1,000
St John's Outreach Project 3,000
STAA St Ann's Community Orchard 3,000
Stanton Hill Community Help Centre 3,000
Stonebridge City Farm 5,000
Summerwood Lane Community Garden 2,000
Support for Survivors 2,000
The Bipolar Lift CIC 2,000
The British Wheelchair Sports Foundation 1,756
The Helpful Bureau 5,000
The Indian Community Centre Association 3,500
The Lammas Scout and Guide Group 2,000
The Lenton Centre 3,000
The Sick Children's Trust 2,000
The Sustainable Travel Collective Ltd 1,000
Transform Training 2,000
Transforming Notts Together 5,000
Treetops Hospice Trust 5,000
Trent District Community First Responders 2,000
Trusty Steed CIC 4,000
Carried forward 333,918

THE THOMAS FARR CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2021

17 Donations made during the year (Continued)
Brought forward 333,918
Unanima Theatre 2,000
Vibrant Warsop 3,380
Vine Community Centre 3,000
Wainman Trust 3,000
Watersafe UK Search & Rescue Team 1,800
WE R HERE 3,000
Worksop Live at Home Scheme 1,000
YMCA Newark and Sherwood 4,500
355,598

Gross Income £ 1,040 2,290 1,925 543 725 696 2,336 1,000
Market Value 5 April 2021 £ 149,200 106,995 143,440 688,600 184,000
Holding 5 April 2021 10,000 3,500 2,000 220,000 100,000
Unrealised Profit/(loss) £ 67,800 14,016 (15,835) 394,900 60,307
Realised Profit/(loss) £ 4,014 71,181
Disposals Quantity
Proceeds		 £ 36,000
88,110		 30,000
111,231
Cost £ 92,979 85,411 52,239 21,625 123,693
Additions Quantity 3,500 1,000 700 300 100,000
Market Value 6 April 2020 £ 81,400 84,096 333,750
Holding 6 April 2020 Aberforth Smaller Companies Trust Ordinary 1p 10,000 Admiral Group Ordinary GBP0.001 AstraZeneca Ordinary US $0.25 Stock Aviva Ordinary 25p 36,000 Baillie Gifford US Growth Trust Plc Ordinary GBP0.01 250,000 Barclays Ordinary 25p

Gross Income £ 6,316 10,948 3,337 1,617 1,567 1,507 1,841 1,841 12,250
Market Value 5 April 2021 £ 175,720 310,200 108,680 115,920 95,043
Holding 5 April 2021 9,200 15,000 19,000 40,000 3,500
Unrealised Profit/(loss) £ (9,569) 124,020 (3,370) (19,000) (3,879)
Realised Profit/(loss) £ 8,000
Disposals Quantity
Proceeds		 £ 200,000
200,000
Cost £ 185,289 112,050 98,922
Additions Quantity 9,200 19,000 3,500
Market Value 6 April 2020 £ 186,180 134,920 192,000
Holding 6 April 2020 BH Global Ltd NPV Sterling shares BHP Group Plc Ordinary USD0.50 15,000 Blackrock World Mining Trust Ordinary GBP0.05 BP Ordinary US$0.25 40,000 British American Tobacco Ordinary 25p BUPA Finance plc 6.125% 16/09/2049 200,000

Gross Income £ 1,143 614 237 874 1,486 2,337 2,305 2,370 2,432
Market Value 5 April 2021 £ 355,032 127,680 391,337 105,245 112,046
Holding 5 April 2021 97,226 16,000 40,330 3,500 99,156
Unrealised Profit/(loss) £ 29,210 45,961 147,886 8,353 27,763
Realised Profit/(loss) £ 8,361
Disposals Quantity
Proceeds		 £ 10,000
118,361
Cost £ 1,143 614 29,491 96,892
Additions Quantity 5,000 3,500
Market Value 6 April 2020 £ 324,065 52,228 110,000 243,451 84,283
Holding 6 April 2020 Capita Financial Managers Trojan S Acc Nav 97,226 Clinigen Group Plc Ordinary GBP0.001 11,000 Compass Group Plc Ordinary GBP0.1105 10,000 Coupland Cardiff Funds Japan Alpha T Jpy Acc 40,330 Diageo Ordinary 28.935185p Diversified Gas & Oil Plc Ordinary GBP0.01 99,156

Gross Income £ 1,303 534 9,192 9,617 1,821 4,046 3,105 2,565 2,565 2,565 4,063
Market Value 5 April 2021 £ 342,994 127,300 708,900 199,955
Holding 5 April 2021 1,200 5,000 340,000 70,000
Unrealised Profit/(loss) £ 111,070 21,600 125,460 103,020
Realised Profit/(loss) £ 16,001 (27,827) 21,031
Disposals Quantity
Proceeds		 £ 60,000
118,961		 13,500
173,242		 130,000
146,857
Cost £ 22,535
Additions Quantity 8,000
Market Value 6 April 2020 £ 231,924 105,700 686,400 201,069 74,400 125,826
Holding 6 April 2020 Edgewood L Select US Select Growth I Z USd Acc 1,200 Experian plc Ordinary USD0.10 shares 5,000 Fil Investment Services(Uk)limited Global Dividend W Inc Nav 400,000 Glaxosmithkline Ordinary 25p 13,500 Glencore Plc Ordinary USD0.01 62,000 Goldman Sachs Group 3.125% Snr MTN 25/07/2029 130,000

Gross Income £ 9,546 4,533 627 359
Market Value 5 April 2021 £ 108,750 129,400 474,125 195,075
Holding 5 April 2021 100,000 100,000 25,000 45,000
Unrealised Profit/(loss) £ (1,617) (1,994) 268,375 (1,375)
Realised Profit/(loss) £ 9,007 17,696 18,349
Disposals Quantity
Proceeds		 £ 18,000
120,499		 1,666
31,407		 64,000
188,909		 160,000
106,599
Cost £ 110,367 131,394 196,450 107,083 (484)
Additions Quantity 100,000 100,000 45,000 160,000
Market Value 6 April 2020 £ 111,492 219,461 170,560
Holding 6 April 2020 Gore Street Energy Storage Fund Plc Ordinary GBP0.01 Great Portland Estates Ordinary GBP0.15263157894 18,000 Greencoat UK Wind PLC Ordinary 1p shares Intermediate Capital Group Plc Ordinary GBP0.2625 26,666 JP Morgan US Smaller Cos Inv Tst 2.5p Ord Shs Jpmorgan Asset Management UK Ltd Japan C Net Inc Nav 64,000 Jupiter Unit Trust Managers Strategic Bond I Inc

Gross Income £ 879 970 1,497 699 1,500 1,163 563 1,575 1,575 221
Market Value 5 April 2021 £ 105,152 163,800
Holding 5 April 2021 159,976 75,000
Unrealised Profit/(loss) £ (1,447) 30,225
Realised Profit/(loss) £ (5,402) 15,980
Disposals Quantity
Proceeds		 £ 350,000
91,653		 3,000
231,980		 8,000
223,494
Cost £ 106,599 139,444 84,050
Additions Quantity 159,976 5,000 3,000
Market Value 6 April 2020 £ 97,055 216,000 133,575
Holding 6 April 2020 Jupiter Unit Trust Managers Strategic Bond Z Inc Lloyds Banking Group Ordinary 10p 350,000 London Stock Exchange plc Ord 6.9186p shares 3,000 Londonmetric Property Plc Ordinary GBP0.10 75,000 M&G Investment Management American I Dist

Gross Income £ 940 757 609 448 3,060 1,620 1,620 1,620 1,509
Market Value 5 April 2021 £ 147,952 253,600 90,246 307,200 103,071
Holding 5 April 2021 140,000 218,226 52,000 120,000 1,010
Unrealised Profit/(loss) £ (8,064) 30,689 (1,910) 114,960 2,878
Realised Profit/(loss) £
Disposals Quantity
Proceeds		 £
Cost £ 223,494 (583) 92,156 100,193
Additions Quantity 218,226 52,000 1,010
Market Value 6 April 2020 £ 156,016 192,240
Holding 6 April 2020 M&G Securities Limited Global Macro Bond J GBP Dis Unhedged 140,000 M&g Securities Limited North American Dividend Pp GBP Dis Melrose Industries Plc Ordinary GBP 48/7p Mercantile Investment Tst Plc(The) Ordinary GBP0.025 120,000 Muzinich Funds Global Tactical Cred Inc Fdr Hgd Inc Nav

Gross Income £ 1,280 2,240 4,000 8,151 8,151 6,250 2,250 6,252 1,251 1,095
Market Value 5 April 2021 £ 96,768 248,290 175,250 465,450 97,455
Holding 5 April 2021 3,200 34,833 25,000 30,000 1,500
Unrealised Profit/(loss) £ 44,848 63,536 83,750 189,390 2,992
Realised Profit/(loss) £
Disposals Quantity
Proceeds		 £
Cost £ 94,463
Additions Quantity 1,500
Market Value 6 April 2020 £ 51,920 184,754 91,500 276,060
Holding 6 April 2020 Persimmon Ordinary 10p 3,200 Phoenix Group Holdings Plc Ordinary GBP0.10 34,833 Polar Capital Hldgs Plc Ordinary GBP0.025 25,000 Prudential Ordinary 5p 30,000 Reckitt Benckiser Group Ordinary 10p

Gross Income £ 2,663 2,176 2,246 2,153 1,615 1,615 3,910 1,615 2,426 1,439 2,928 1,974 1,975 1,977
Market Value 5 April 2021 £ 240,372 237,150 81,570 451,325
Holding 5 April 2021 18,000 85,000 6,000 350,000
Unrealised Profit/(loss) £ (14,940) 74,970 (210) 96,845
Realised Profit/(loss) £ (4,037) (191) 8,090
Disposals Quantity
Proceeds		 £ 3,000
38,515		 130,000
129,151		 7,000
103,500
Cost £ 129,342
Additions Quantity 130,000
Holding
Market Value		 6 April 2020
6 April 2020		 £ Royal Dutch Shell 'B' Shares EUR0.07 21,000
297,864		 Schroder Oriental Income Fund Ord GBP0.01 85,000
162,180		 Shell Intl.Fin.Bv 1% Gtd Snr Nts 10/12/2030 Gbp100000'regs Smith & Nephew Ordinary US$0.20 13,000
177,190		 T Bailey Fund Services Ltd Evenlode Global Income F GBP Dis 350,000
354,480

Gross Income £ 2,925 1,440 22,919 2,168 2,219 2,248 1,090 5,100 4,976
Market Value 5 April 2021 £ 80,982 116,638 167,075
Holding 5 April 2021 35,526 2,900 125,000
Unrealised Profit/(loss) £ (24,610) (435) 28,300
Realised Profit/(loss) £ 4,837 (2,169) 51,070
Disposals Quantity
Proceeds		 £ 45,000
105,592		 3,100
122,978		 35,000
119,670
Cost £ 105,592
Additions Quantity 35,526
Market Value 6 April 2020 £ 100,755 242,220 68,600 138,775
Holding 6 April 2020 Tesco Ordinary 5p 45,000 Tesco plc 6.333333p Ordinary Shares Unilever Ordinary 3 1/9p 6,000 Urban & Civic Plc Ordinary GBP0.20 35,000 Vodafone Group Ordinary US$0.2095238 125,000

Gross Income £ 261,560
Market Value 5 April 2021 £ 9,084,983
Holding 5 April 2021
Unrealised Profit/(loss) £ 2,204,869
Realised Profit/(loss) £ 84,722 298,713
Disposals Quantity
Proceeds		 £ 8,000
145,314		 2,716,023
Cost £ 2,542,443
Additions Quantity
Market Value 6 April 2020 £ 60,592 6,754,981
Holding 6 April 2020 8,000
Weir Group Ordinary GBP0.125 TOTAL: