**REGISTERED COMPANY NUMBER: 02553828 (England and Wales) REGISTERED CHARITY NUMBER: 1004608** **QED FOUNDATION LIMITED (A COMPANY LIMITED BY GUARANTEE)** **REPORT OF THE TRUSTEES AND** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** Calvert Dawson Ltd 288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY **QED FOUNDATION LIMITED** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**|6|to|7| |**Cash Flow Statement**||8|| |**Notes to the Cash Flow Statement**||9|| |**Notes to the Financial Statements**|10|to|17| |**Detailed Statement of Financial Activities**||18|| **QED FOUNDATION LIMITED** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 2019). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 02553828 (England and Wales) ## **Registered Charity number** 1004608 ## **Registered office** Quest House First Floor 38 Vicar Lane Bradford West Yorkshire BD1 5LD Page 1 **QED FOUNDATION LIMITED** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2021** ## **Trustees** ## **Achievements and Performance** In achieving its objectives, the charity is engaged in the following projects in 2020-21 financial year: ## **Into the Mainstream (AMIF)** This 3-year contract, from October 2019 will provide tailored integration and employment training to support 918 potentially economically active third country nationals. Contract value £1.135m over 3 years. IAG, ESOL employability, World of Work, UK orientation, vocational support, cultural & heritage visits and CV preparation are key features of delivery with end of course presentations at local delivery venues. Delivery is across West and South Yorkshire at partner/grass roots community organisation venues. QED will form a partnership Board with Targets: 918 beneficiaries, 39 ESOL courses, 1,836 IAG sessions, 30 World of Work/Employability sessions, 39 cultural/heritage visits, 39 employer visits, 39 certification courses. Delivery of the first ESOL courses will commence in January 2020, following completion of the set-up phase. ## **Pathways to Integration (AMIF)** This new contract, started on 1 September 2019 until 31 December 2022 to provide tailored integration and employment training to support 345 potentially economically active third country nationals. Contract value £747,101. The programme covers IAG, ESOL seminars and employability workshops. ## **Barnardo's (See Hear Respond)** A major contract was secured and deliver on a subcontracting basis from Barnard worth £270,000. This was a response to lockdown. Families and children benefited. It was delivered by QED in partnership with schools and community organisations. ## **English for Everyone** The Shipley College led Bradford TE Consortium secured this additional DCLG contract, valued at £16, 325 for QED for the year. The programme is delivered by qualified, ESOL tutors. The contract value for the 2019/20 financial year is for the delivery of 5 courses, each of 30 guided learning hours for 75 learners in total and 5 activities for 75 different learners. Targets for this contract have been delivered and met. ## **Future Digital Inclusion** This digital IT programme uses courses/resources from Learn My Way to provide programmes for 67 learners. Provision is delivered at Quest House and Cater House in Keighley for men and women who wish to learn or update their IT skills through a modular based approach. All FDI targets will be met. ## **Make it Click** A contract which provides face to face/online support for 125 learners who have access to the internet but make limited use of it. Utilising the Digital Skills Directory, the following modules will provide resources for learners to choose to work through: Email, Documents, Spreadsheets, Presentations, Online security and social media. Contract value £5k for 125 learners. This is an 'experimental' programme with google which includes evaluation to better understand the challenges and experiences of emerging IT learners. This contract is progressing well and it is anticipated targets will be met ## **Lloyds Bank Foundation** This programme links to Future Digital Inclusion in that the requirements are to engage and support 50 learners to develop their IT skills and complete the keeping your personal information secure on-line, make your money work and online and mobile banking courses from Learn My Way. Additionally, QED hosted a 'Get Online' Event during October. Work is underway to ensure all targets are met. Page 2 **QED FOUNDATION LIMITED** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2021** ## **Action for Employment** A new project secured by QED in September 2020 for 16 women to follow a tailored employability, ESOL and work orientation course to move into FE, work or closer to the labour market. Grant value: £19,780 over 6 months, to 31 March 2021. All learners will have a tailored IAG action plan which sets employment goals and milestones and seek to address barriers to progression. Each learner will attend 60 hours of skills training and 12 hours of action planning and an employer visit. Started in October 2019 and on course to meet all targets. QED will seek to bid again for a further programme. ## **Network of Pakistani Organisations (UK) Conference** Following an initial consultation by Mohammed Ali with leaders of British Pakistani led voluntary organisation in October 2018, a national high-profile conference was held in London on 19 November 2019 hosted by the Agha Khan University It was supported by Lottery Board. Over 100 representatives from all over UK attended this event and a report was written up. A new organisation has been et up supported by QED Foundation to capacity build British Pakistani led community and voluntary sector organisations nationwide. T ## **GCHQ** QED Foundation led on organising a number of community engagement events for GCHQ in Greater Manchester and London bringing together over 100 community influencers to meet representatives f GCHQ. The purpose of these events was to deepen the understanding of each other which would help GCHQ to promote employment opportunities especially in its new office in Manchester. Several community awareness training events were organised for GCHQ staff up to 31 March 2021, ## **30 Anniversary and Yorkshire Young Asians Achievements (YAYA) Award 2020** Mohammed Ali persuaded York St John (YSJ) University to be the key sponsors of YAYA awards to be launched at QED Foundations 30th Anniversary to be held on 2 April 2020. The event had to be postponed du. These awards were successfully launched at QED 30the Anniversary online on 11 November 2020. ## **Company Secretary** M Ali OBE ## **Independent Examiner** P A Calvert ACA Calvert Dawson Ltd 288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY Approved by order of the board of trustees on 2 July 2021 and signed on its behalf by: S K Pooni - Trustee Page 3 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QED FOUNDATION LIMITED** ## **Independent examiner's report to the trustees of QED Foundation Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. P A Calvert ACA Calvert Dawson Ltd 288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY 2 July 2021 Page 4 **QED FOUNDATION LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021** |**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**2,265**
**Charitable activities**
3
Grants
**-**
Charitable Activities
**78,536**
**Total**
**80,801**
**EXPENDITURE ON**
Raising funds
4
**71**
**Charitable activities**
5
Charitable Activities
**36,319**
**Total**
**36,390**
**NET INCOME**
**44,411**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**220,782**
**TOTAL FUNDS CARRIED FORWARD**
**265,193**|**Restricted**
**fund**
**£**
**-**
**909,263**
**-**
**909,263**
**26,696**
**822,722**
**849,418**
**59,845**
**114,548**
**174,393**|**2021**
**Total**
**funds**
**£**
**2,265**
**909,263**
**78,536**
**990,064**
**26,767**
**859,041**
**885,808**
**104,256**
**335,330**
**439,586**|**2020**
**Total**
**funds**
**£**
5,134
458,575
85,168| |---|---|---|---| ||||548,877
32,493
437,687| ||||470,180| ||||78,697
256,633| ||||335,330| The notes form part of these financial statements Page 5 ## **QED FOUNDATION LIMITED** ## **BALANCE SHEET 31 March 2021** |**Unrestricted**
**funds**
**Notes**
**£**
**FIXED ASSETS**
Tangible assets
12
**86,801**
**CURRENT ASSETS**
Debtors
13
**-**
Cash at bank and in hand
**178,392**
**178,392**
**CREDITORS**
Amounts falling due within one year
14
**-**
**NET CURRENT ASSETS**
**178,392**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**265,193**
**CREDITORS**
Amounts falling due after more than one year
15
**-**
**NET ASSETS**
**265,193**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**Restricted**
**fund**
**£**
**21,980**
**46,003**
**460,876**
**506,879**
**(304,466)**
**202,413**
**224,393**
**(50,000)**
**174,393**|**2021**
**Total**
**funds**
**£**
**108,781**
**46,003**
**639,268**
**685,271**
**(304,466)**
**380,805**
**489,586**
**(50,000)**
**439,586**
**265,193**
**174,393**
**439,586**|**2020**
**Total**
**funds**
**£**
129,617
94,642
306,246
400,888
(195,175)
205,713
335,330
-
335,330
220,782
114,548
335,330| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 6 continued... ## **QED FOUNDATION LIMITED** ## **BALANCE SHEET - continued 31 March 2021** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 2 July 2021 and were signed on its behalf by: S K Pooni - Trustee The notes form part of these financial statements Page 7 ## **QED FOUNDATION LIMITED** ## **CASH FLOW STATEMENT for the Year Ended 31 March 2021** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from financing activities**
New loans in year
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2021**
**£**
**283,022**
**283,022**
**50,000**
**50,000**
**333,022**
**306,246**
**639,268**|**2020**
**£**
263,193| |---|---|---| |||263,193| |||-| |||-| |||| |||263,193
43,053| |||306,246| The notes form part of these financial statements Page 8 **QED FOUNDATION LIMITED** ## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2021** |**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**| |---|---|---|---| |||**2021**|**2020**| |||**£**|**£**| ||**Net income for the reporting period (as per the Statement of Financial**||| ||**Activities)**|**104,256**|78,697| ||**Adjustments for:**||| ||Depreciation charges|**20,836**|21,384| ||Decrease/(increase) in debtors|**48,639**|(18,906)| ||Increase in creditors|**109,291**|182,018| ||**Net cash provided by operations**|**283,022**|263,193| ## 2. **ANALYSIS OF CHANGES IN NET FUNDS** ||**At 1/4/20**|**Cash flow**|**At 31/3/21**| |---|---|---|---| ||**£**|**£**|**£**| |**Net cash**|||| |Cash at bank and in hand|**306,246**|**333,022**|**639,268**| ||**306,246**|**333,022**|**639,268**| |**Debt**|||| |Debts falling due after 1 year|**-**|**(50,000)**|**(50,000)**| ||**-**|**(50,000)**|**(50,000)**| |**Total**|**306,246**|**283,022**|**589,268**| The notes form part of these financial statements Page 9 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Leasehold Property straight line over 15 years Equipment straight line over 4 years ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued... Page 10 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** |**2.**
**DONATIONS AND LEGACIES**
Donations
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Grants receivable from Government and other public bodies:
Specialist Support BAME/ESOL
HMRC - JRS/Business Grant
Talk English Together
See, Hear & Respond
English for Everyone
NL Grant
VRP - Home Office
DWP Courses
Make it Click
Other Grants
**4.**
**RAISING FUNDS**
**Raising donations and legacies**
Staff training
**Investment management costs**
Property repairs
Depreciation
Aggregate amounts|**2021**
**£**
**2,265**|**2021**
**£**
**2,265**|**2020**
**£**
5,134|**2020**
**£**
5,134| |---|---|---|---|---| |||**2021**||2020| |||||| |||||| ||**11,250**||146,250|| ||**76,436**|||| ||**18,200**||37,134|| ||**288,365**|||| ||**18,924**||38,818|| ||**69,058**||-|| ||**396,330**||149,013|| ||**14,950**||36,610|| ||**5,750**||10,750|| ||**10,000**||40,000|| |||||| ||**909,263**||458,575|| |||||| ||**2021**
**£**
**71**
**2021**
**£**
**5,860**
**20,836**
**26,696**
**26,767**||**2020**
**£**
2,251
**2020**
**£**
8,858
21,384
30,242
32,493|| continued... Page 11 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** |**5.**
**CHARITABLE ACTIVITIES COSTS**
**Direct**
**Costs**
**£**
Charitable Activities
**514,353**
**6.**
**GRANTS PAYABLE**
Charitable Activities
**7.**
**SUPPORT COSTS**
Charitable Activities
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|**Grant**
**funding of**
**activities**
**(see note**
**6)**
**£**
**341,811**|**Support**
**costs (see**
**note 7)**
**Totals**
**£**
**£**
**2,877**
**859,041**
**2021**
**2020**
**£**
**£**
**341,811**
175,310
**Governance**
**costs**
**£**
**2,877**
**2021**
**2020**
**£**
**£**
**20,836**
21,384| |---|---|---| **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. continued... Page 12 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** |**10.**
**STAFF COSTS**
Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Project management and support
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**Unrestricted**
**funds**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
5,134
**Charitable activities**
Grants
-
Charitable Activities
85,168
**Total**
90,302
**EXPENDITURE ON**
Raising funds
2,251
**Charitable activities**
Charitable Activities
-
**Total**
2,251
**NET INCOME/(EXPENDITURE)**
88,051
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
132,731||**2021**
**£**
**236,533**
**150,000**
**386,533**
**2021**
**11**
**Restricted**
**fund**
**£**
-
458,575
-
458,575
30,242
437,687
467,929
(9,354)
123,902||**2020**
**£**
152,641
-
152,641
**2020**
7
**Total**
**funds**
**£**
5,134
458,575
85,168| |---|---|---|---|---| |||||| |||||| |||||548,877
32,493
437,687| |||||470,180| |||||78,697
256,633| continued... Page 13 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** |**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
**Unrestricted**
**Restricted**
**funds**
**fund**
**£**
**£**
**TOTAL FUNDS CARRIED FORWARD**
220,782
114,548
**12.**
**TANGIBLE FIXED ASSETS**
**Short**
**Computer**
**leasehold**
**equipment**
**£**
**£**
**COST**
At 1 April 2020 and 31 March 2021
**279,858**
**104,328**
**DEPRECIATION**
At 1 April 2020
**161,149**
**93,420**
Charge for year
**18,656**
**2,180**
At 31 March 2021
**179,805**
**95,600**
**NET BOOK VALUE**
At 31 March 2021
**100,053**
**8,728**
At 31 March 2020
118,709
10,908
**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Prepayments and accrued income
**46,003**
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Trade creditors
**48,104**
Accruals and deferred income
**256,362**
**304,466**|**Total**
**funds**
**£**
335,330
**Totals**
**£**
**384,186**
**254,569**
**20,836**
**275,405**
**108,781**
129,617
**2020**
**£**
94,642
**2020**
**£**
195,175
-
195,175|**Total**
**funds**
**£**| |---|---|---| |||335,330| continued... Page 14 **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** |**15.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE**|**THAN ONE YEAR**|**THAN ONE YEAR**||| |---|---|---|---|---|---| ||||**2021**|**2020**|| ||||**£**|**£**|| ||Bank loans (see note 16)||**50,000**||-| |**16.**|**LOANS**||||| ||An analysis of the maturity of loans is given below:||||| ||||**2021**|**2020**|| ||||**£**|**£**|| ||Amounts falling due between two and five years:||||| ||Bank loans - 2-5 years||**50,000**||-| |**17.**|**MOVEMENT IN FUNDS**||||| ||||**Net**||| ||||**movement**|**At**|| |||**At 1/4/20**|**in funds**|**31/3/21**|| |||**£**|**£**|**£**|| ||**Unrestricted funds**||||| ||Unrestricted Funds|**220,782**|**44,411**|**265,193**|| ||**Restricted funds**||||| ||Restricted Funds|**114,548**|**59,845**|**174,393**|| ||**TOTAL FUNDS**|**335,330**|**104,256**|**439,586**|| ||Net movement in funds, included in the above are as follows:||||| |||**Incoming**|**Resources**|**Movement**|| |||**resources**|**expended**|**in funds**|| |||**£**|**£**|**£**|| ||**Unrestricted funds**||||| ||Unrestricted Funds|**80,801**|**(36,390)**|**44,411**|| ||**Restricted funds**||||| ||Restricted Funds|**909,263**|**(849,418)**|**59,845**|| ||**TOTAL FUNDS**|**990,064**|**(885,808)**|**104,256**|| Page 15 continued... **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** ## **17. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |**Unrestricted funds**
Unrestricted Funds
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|**At 1/4/19**
**£**
132,731
123,902
256,633|**Net**
**movement**
**in funds**
**£**
88,051
(9,354)
78,697|**At**
**31/3/20**
**£**
220,782
114,548| |---|---|---|---| ||||335,330| Comparative net movement in funds, included in the above are as follows: |**Incoming**
**resources**
**£**
**Unrestricted funds**
Unrestricted Funds
90,302
**Restricted funds**
Restricted Funds
458,575
**TOTAL FUNDS**
548,877
A current year 12 months and prior year 12 months combined position is as follows:|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(2,251)
88,051
(467,929)
(9,354)
(470,180)
78,697| |---|---| |**Unrestricted funds**
Unrestricted Funds
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|**At 1/4/19**
**£**
132,731
123,902
256,633|**Net**
**movement**
**in funds**
**£**
132,462
50,491
182,953|**At**
**31/3/21**
**£**
265,193
174,393| |---|---|---|---| ||||439,586| Page 16 continued... **QED FOUNDATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021** ## **17. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||**Incoming**|**Resources**|**Movement**| |---|---|---|---| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |Unrestricted Funds|171,103|(38,641)|132,462| |**Restricted funds**|||| |Restricted Funds|1,367,838|(1,317,347 )|50,491| |**TOTAL FUNDS**|1,538,941|(1,355,988 )|182,953| ## **18. RELATED PARTY DISCLOSURES** There is rent payable to a pension scheme in which the company secretary has an interest. Page 17 **QED FOUNDATION LIMITED** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Charitable activities**
Grants
Other income
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Staff training
**Investment management costs**
Property repairs
Short leasehold
Computer equipment
**Charitable activities**
Wages
Pensions
Rent and rates and room hire
Insurance
Light and heat
Telephone, IT and website
Postage and stationery
Advertising
Sundries
Travel and subsistence
Associates
**Support costs**
**Governance costs**
Accountancy fees
Total resources expended
**Net income**|**2021**
**£**
**2,265**
**832,827**
**154,972**
**987,799**
**990,064**
**71**
**5,860**
**18,656**
**2,180**
**26,696**
**236,533**
**150,000**
**59,128**
**2,864**
**5,458**
**21,133**
**10,407**
**10,234**
**14,738**
**3,858**
**341,811**
**856,164**
**2,877**
**885,808**
**104,256**|**2020**
**£**
5,134
458,575
85,168| |---|---|---| |||543,743| |||548,877
2,251
8,858
18,657
2,727| |||30,242
152,641
-
44,259
3,947
8,484
9,457
4,726
10,869
6,302
19,031
175,310| |||435,026
2,661| |||470,180| |||78,697| This page does not form part of the statutory financial statements Page 18