The Moorview Charitable Trust Report and financlal statements Year ended 5 April 2021 Charity number.. 803598 The Moorview Charitable Trust Contents Report of the trustees Independent examlnerfs report Statèment of flnanclal att￿￿leS Balance sheet Not￿ io the flnancial ststements The Moorview Charitsble Trust Report of the tfU5tees The trustees present their report and the financial statements of the chadty for the year ended 5 April 2021. The flnancial siatements ha¥e been prepared in accordance with the accounting policies set out in the notes to thÈ accounts and Comp￿ with the charl￿$ deed, the Charities Act 2011. and the Statement ol Recommended Pradice applicable to charitles preparlng thelr accounts In accordance wlth the Flnancial Reporting Standard applicabk in the UK and Republic of Ireland publlshed on 2 October 2019. Reference aTrd admlnbtrth Infrymailon Address: Cayzer House 30 Butkin8ham Gate London SWIE 6NN Governed by: Oeed of Appointment dated 9 Aprfjl 199J as amended on 6 April 2020 Ichange of namèl Trustees.. James Mithael Beale Cay2er-Colvin EstherAnne Mary Cayzer.Colvln Wlllljm Lawrence Greenwell Swan Admlnlstrator,, The Cayier Trust Q>mpany Limited Qyzer House 30 Bud¢Sn8ham Gatè London SWIE 6NN Sollcltors: Currty & Co. 33 Queen Anne Street London WIG9HY Independent examlner.. S J waker￿d ACA Dlxon Wllson 22 Chancery Lane London Wcts lis Stru¢iw•. ￿•rn4￿C•, and manawnent The trvst was established by The Honourable Nlthola Colvln through a Deed of Appolntment dated 9 Aprll 1990. The charity was feRistered by the Charity Commlssloners for England and Wales on 13 Julv 1990 under charlty number 803598. 8y a Deed ot Appointment dated 22 March 2019. £1.5(X).(XL) was unconditionally donated to the trust from the Estate of Lady Elizabeth Cavendish. It w35 sub5eqvently declded by the exffutors that thls donatlon would take the form of Investments, calculated at their values at probate. These were trans￿rred to the trust In Novembw 2019, and the uplift in value between the probate date and the date of donatlon was reflected in the accounts for the year ended S April 2020 as an additional donatlon. Followin8 this donatlon, the trustees resolved to chanBe the name of the charity from The Colvin Charitable Trust io The Moomèw Charitable TrusL by a resolution dated 6 April 2020. By a Deed of Appolntment dated 22 JU￿ 2020. a further £652.1￿ was uncondttionally donated to the trustfrom the Estate of Lady Eliiabeth Cavendish. The exe¢irton declded that thls donatlon would take the form of cash. and thls sum was transferred to the trust in the same month. The trustees do not actlvety fundraise, althou8h the 8ovemin8 document allows them to do so. The tru5tee5 are prohlbiied, under the trust deed. from undertaking any permanent tradin8 activitie5 to raise funds for the charity. The power of appointing new twstees is vested in the present trustees. New tmstee5 may be appointed at any time, either by way of repLicement or addltion. The current trustees have all held office slnce belng appointed on 27 November 2002. The Moorview Charitable Trust Report of the trustees Strurture. zo¥•rnan¢•. and management Icontlnued) The trustees agree the bioad strategy and arè35 of attivtty for the ITUSt, including ÉTant-makln investment, dsk managèrnenL reserves, and perfomance. The day to day adminlstratlon ofgrants and the processlng ond handlinK of applications prior to tonsider3tltsn Is delegated to Jamts and Esther cav2èr-co￿In, and the financlal affalrs of the charlty are handled by the administrator. The trustees annualty review the ri5k5 facir4g the charty. Obl•dives 4nd •¢tl¥ltt¢s The trust deed 6lves the trustees the power to pay or appty the income and the whole or any part or parts of the capltal to orfor such charitable institution or institutions or other such charttable oblert or objects any part of the world as the trustee5 Shall In their absolute d15cretlon thlnk flt to support or establish. The trustees Identlfythe prolects and organ15ations they vlsh to support and so do not consldergrants to people or or8anisation5 who appty specu1atp1e￿. The trustalso has a pollcy ol not r¢sF*)ndingto any correspondence unless It relates to grants rt has agreed to rnake or to the 8eThernl management Df the trust. Publk benefft The trustees, havin8 regard to the publk benefft 8UIdan￿ published by the tharity ComMiss￿n in accordance wlth Sectlon 17 of the Charrties Att 2011, conslder that the purpose and artyvilles of the tha￿ty 53t15fy the requlremenis of the public benrfrt test, Set out in Sertion 4 of the same act. Athl•vemenls wnd p•rlorm•n¢• The charity continues to support and aS￿$t charitable obRdive5 whith prornote medical research, treatmenl and care. as well as education. research. conseryatk>n, and the environment. when funds pern)It. In the year. the trustee5 8ranted £IO,¢))O to The Herita8e of London Trust, £IO.000 to the Yorkshlre kulpture Park, £5,(￿? to Hdp for Htrots. £5.C(Q to the So￿hern Splnal Inlurfes Trust and £4,280 to The Royal Hortlcultural Stxiety. FlnJnd•l r•¥l•w. In¥esknKTrt pollry• Ind th m•n¥ymMt At the year-end. the market value of investments. excludin8 capital cath, held by the charity wzs £2,246.30612020- É1.154,4011. ThL% Increase is partty a result of addrtlonal Investments purchased In thè ye4r following the expendable endowrrent donatlon made In july 2020, and also a resurt of the 8eneral recovery in Investment values followin8 the sharp declin• czused by the Cg¥id.19 pandernlc. Detalls of the eharitvs fixed asset investments are described in note 6 to the financial statements. The charltV5 investment powers are prescrlbed In the trust deed. The deed give5 the trustees very wide power5 of Investment. The trustees have set a policy to ienerate a su5tsinable return to hjnd annual Brant making whilst malntaSnln8 thè real value of the charws assets, noti￿ howèvef, that endowTnent fvnds are expendable, not permanent. The Income from investments for the year was £410.56312020- £5.2981. The 5ub5tantial inC￿aSe in the year ended S April 2021 rekns the fact that this was the firsi hjll year of Investment aCti￿ty for the charity, as well as the impart of the additlonal expendable endowrnerbi donation made in July 2020. The charlty's investment oblertive is to produ￿ the best financial return possible within an acceptable level of risk, and Specifical￿ to produce a Capital retum above the FfsE All Share Index over the long term, with a minimum 2% yield. A5 at 5 April 2021. the charfty's perfomance wa5 in line wfth these gbjectives. The Moorview Charitable Trust Report of the trustees Flnandal rèvlew, Snvestment pollry, and rfsk mana¢ement {contlnued) The tru5tee5 annually review the risks fating the charity- The thariws risks mainly relate to inve5tfflent management. as well as the performance of its material investment in Caledonia Inve5trnents plc. These have been arnelioraled by holdln8 a dlverslfied portFollo, aCt￿e1¥ mana6ed by Rathbone Investment Managemeni Umlted. along wlth the holdln8 In Caledonla Investrnents plc. an Investment trust with its own wide rah8e of undèrlying investments. PerfOr￿nce is reviewed at least annually by the trustees, and regular meetin85 are held with the investment mana8ers. Reservu pollcy At 5 April 2021. the endowment fund reserve stood at £2,380,11)) {2020 - £1,398,9611, and the unrestricted fund reserve totalled E46,79212020- £37.3821. The trust has low govtmanct and supptsn Costs and easily maintain5 free reserves to cover unrestricted charitsble eXpend￿Ure. Grants are made on a cose by ￿se ba515. allowlng the Iru5tees to be flexible and adapt 8rnnt ￿e15 •5 necessary. The charlvs poliry is to restrict ¢rants In any one year to within the level of income 8enerated In that year, plus unrestricted income funds brought forward. unle55 a prolect partlcularlv worthy ol support 15 Identffted by the trustee5. Total donatkjns rnade durlng the year were E34,280 12020- £16,780). St•tement oltnKi••< T•4￿51b￿lI1•l The trustees are responsible tor preparln8 the trustees. •nnual report and the financlal statements In affordance wrth appIl￿ble law and United Klngdom Attountin8 Standards Ivnited Klngdom Generallv Accepted Accountin8 Prarticel. Tht law appllcable to charltles In En8land and Waks r￿uIreS the charlty trustee5 to prepare flnanc5al statements for each financial year whlch 8fve a rrue and falr view of the stale ol affalrs of the charltv and of the Incomln8 resources and ippli¢ation of resour¢es of th* tharfty for that ptrlod. In preparlng the flnanclal statements, the tTU5tees are required to: select sultable occountin8 policies and then apply them con5iStently: observe the methods and principles in the applicable Charities SORP- makejud8ements and estimates that are reasonable and prudenL' state whether applkable accountin8 stsndards have been folbwed, subject to any matèrial departures t￿1 must be diKlosed and explalned in the Ilnantial statements,. and prepare the financial statements on a 8oiry concem ba$15 unkss it Is Inappropdate to presume that the tharity wll contSnue In operaUon. The irustees arè responsible for keepin8 proper accountin8 records that dlsclose with reasonable accuraty at any time the financial p051tion of the charity and enable them to ensure that the fTnanclal statements comply wlth the Charttles Act 2011, the appllcable Charlties (Accounts and Reportsl Re8ulations. and the prO￿$10n5 of the trust deed. They are a￿0 responsible for safe8uardlng the assets of the charfty and htno for taking reasonable step5 for the prevention and detection of fraud and other Irre8ularitie5. Approved by the trustees on 2ozL and signed bv C*fvJ"-_ James M B Cayzerryears exceptln8 £13 of accrued income charges arising In the endowment fund in the prior year. Gr•nti to Insthutlons 2021 2020 Gmnts were modefor theAollowln¢purp)ses." Cgn5ervatlon and herita8* Medical research, treatmtnl. and care Hortlculture environment Veterans, support and herltaee io,o(x) 5,OC 14.280 12,5LKt 4,280 34,280 16.780 Recipients of institutional 9roiity' The Cayzer Famlly Aichlve Help lor Heroes Southern Splnal Inlurfes Trust The Herltatt ol London Trust The Royal Hortlcultural Soclety Yorkshire Sculpture Park 500 io,c 4,280 io,coo 34,280 12.QJO 4,280 16,780 Govem4n¢e costs 2021 2020 Le8al and professional fee5 Independent examlnation fet Administration fee 3,793 960 4,620 9.373 2,280 2,280 In¥•stm•nts 1021 2020 Market value at 6 Aprll 2020 Endowment tran5fer5 in at value at transfer date Disposal proceeds Addition5 at C95t Net gain/llossl on revaluati1￿ and on dlsposal Market value at 5 April 2021 1,154,401 1,646,667 11,449,958J I.2￿,4(1? 1242.7081 1.154,401 749.338 342.567 2.246.306 Inwstments at f•lr value conslsts ofr. Llsted equities Llsted flxèd Intèrest stocks 1.920.597 325.709 2,246,306 953,616 2￿,785 1,154,401 Material investh)ents 4t5 Aprll 2021 Market ¥alue % of loial Investments Caledonia Investments plc 320,491 14.3% The Moorview Charitable Trust N¢)tesio the financlal statements lorthe year ended S *wil 2021 Debtors 2021 2020 Accrued inve￿MeTht Income Other debtors 92 6,250 6,342 3,750 3.750 Cr•dhors f•llkni due withln one yw 2021 Accruals 9,233 5.435 Of the total ac¢ruaLs. £5.58012020-£2.2801 rtlatesto Unrestlirt￿ funds. £3.65312020- £3,155) relates to endowment fijnds. The fvnds olthe ¢harlty Tot•1 funds Z021 nds 2021 funds 2021 Openlng balance ai 6 April 2020 Income Expendlture Movement In value of investments Closing balance at S Aprll 2021 37,382 53,063 143,6531 1.398.961 652,C￿0 113,4281 342,567 2,380,100 1,436.343 705,063 157,0811 342,567 2,426,892 46.792 Uvestrkted End(￿ment fvnd$ 2020 Tot•1 fvndi 2020 2020 Openlng balance at 6 April 2019 Income Expenditure Mo¥ement in value of Investments aosing balonce at 5 April 2020 32,381 14.cfjl (19,060J I,5￿.(￿9 147,Q85 15,416J 1,532,381 171,146 124.476) 242,708 1.436.343 37.382 1,398,961 The Moorview Charitable Trust Notès to the finan¢lal st•t•meThts forthe year ènded 5 Aprll 2021 Th• fvnds of the charlty Iconthiu•dl Anatysls of fund ass•ts and Ilaballle5 Unreslri¢ted fvnd$ 2021 Endowment funds 2021 Total lunds 2021 Investments De￿OrS Cash at bank and in hand Crèditors 2,246,306 2,246,306 6,342 183,477 19.2331 2A26,892 6.342 46,030 15.5801 46,792 137,447 3,653 2,380,1(J) Unrestrlded nds 2020 Tot•1 funds 2020 fvnds 2020 Investmenis Debtors Cash ai bank and In hand Creditors 1.154.401 1,154,491 3,750 283.627 5,435 1,436,343 3.750 35.912 12,280 37,382 247.715 3.155 1.398.961 io. Employées The trust dld not have any employees durlry the cul￿nt or prlor year. ii. Trans•¢tlons wlth trust••s or Connetted p*norns An adminlslratlon fee of £4,62012020- E2,2801 is payable to a company of whith Mrjames Caylèrco￿lh Is a director. Legal fees of £3.79312020- £nlll are ptyable to • partnership of whith Mr Wllliam Swan Is a partner. A éonation 91 £IO,LXK)12020- £12.(￿)) was made to Herita8e of London Trus¢ a regtsiefed charlty, of which Mr Jamè5 Cayzef.Colvin is a trustee. No other arrangement. Indudlng transactlons. contratty and grants. exlsted the Jccounting period with trustees or connerted persons. No trustees. or tonnected persons. received remuneration direct￿ or indirect frorn the chartty during the accountyng period nor did the trustees receSve reimbursement ol any expenses. 12. Events after the end of th¢ r•portln8 perlod After the end ol the reportln8 period, on 27 Aprll 2021, th* charity made a donation of £62,SCQto Flne Cell Wort a registered charity. The donation was madè by thè tfustees in particular Considerati￿ of the wishes of the late Lady Eliiabeth Cavendlsh. from whose estate the eyrwjablè Èndowrr*nts ￿ceIved by the charlty over the last three years were donated. 10