Charfty number. 11)04767 THE CRAFT POTTERY CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 THE CRAFT POTTERY CHARITABLE TRUST CONTENTS Pag¢ Ref•ren¢e and admlnl•tratlv• d•tall• of the charlty. Its Irusts•s and advlsern Trustees. rnport Independent examln•fs rnport Statement of financlal acllvltles Balance •he•¢ Notes to Ihe flnanclal statements 9-14 THE CRAFT P0￿eRy CHARITABLE TRUST REFERENCE AND ADAIINISTRATNE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020 Trnste•¥ Felicity A￿leff RI. Hon. Tho Viscount Eccles CBE Chris Keenan Clare Twomey Kyra Cane, Char John Higgins Nigel Lambert char￿ reglstered numb•r 1004767 Prfnclpal offl¢e 63 Great Rus8611 Stre81 London WC1B 38F Ind•p•nd8nt Examln•rn Haysmacinlyre LLP 10 Queen St￿t Place Lond( EC4R 1AG Bankers HS8C Bank plc 133 Regenl Strget Lond¢ W1B4HX Page 1 THE CRAFf POTTERY CHARITABLE TRUST TRUSTEES. REF¥JRT FOR THE YEAR ENDED 31 DECEMBER 2020 The Twslees wesenl Ih81r annual re￿1 t(Wher wlth Ihe financial statements of the charity for the 1 January 2020 to 31 Deceffbw 2020. OBJECTIVES AND ACTIVITIES The prinapal object of the tharity is the athiancement of education of the public in the arts and in particular the art of craft pottery. There have been no thangos in the obfftves the last annual repo The Trust continues lo awar(I tXK58ries aTrJ grants (see bdtrw). GRANT MAKING POUCIES Th$ Trust continues to pro¥i*Je grants and bursaries durirKJ the yew to irnJvi(knals ￿¥0￿e￿ in the fiekl of ¢•ramics to assist them with prepanr*3 txjoks. ccmferw attarKla￿e other projects relevant to th8 education of the public in cr8ft Pottery. VOLUNTEERS There are no Impaid vduntsers. other than the Truste8$ who Contir￿ to gi￿ thw time freely. PUBUC BENEFIT The Trustees in this report describe Iw tr￿se a¢b'wties urvjertaken by Ihe Charity further its Charitab￿ purposes for the public benefit. The Trusloes confinn that tlw c<)mkYy with thè dity in section 17 of the Charities Act 2011 to have due regard to th8 pU￿1C Èenefit gU￿ance. ACHIEVEMENTS AND PERFORMANCE The Trust continues lo provide grants and bursaries durirKJ the year to indivitknls involverj in the fiéld of ceramics to assist them with prepanng books. cOnfvreft￿ alIerhdar￿ and olh8r projects relevant to the education of the public in craft pottery. In this year 6 grants were given to indNiduals totalling £3,441. The Trustees cOn￿der Ihat the Tntsl is ad*]uatefy has suffia'ent income and resourc￿ 10 contrnue its work. FUNDRAISING ACTIVITIESIINCOME GENERAnoN Th8 Trust raises money oach year through a tomt￿ra of p￿5 of work donated by its mètnbor5. Intor85t income is also eamed by placj'ng surplus Cash funds on morw market deposits. INVESTMENT POLICY AND PERFORMANCE The Truslees may invest the monies of th& Trust rK>t inm8LI"alely requred for ils wrposes upon such Investments, s8cunb.es or woperty as may be th0￿ht frt. All SUr￿S funds are I￿rrenlY held on short 18mi money m8rkel deposits of up to one year. bearing interest al the prevailing market rate. The money mar1tet deposit eamed a gross Inte￿51 of £232 in th8 current )ear. The TnJst8es are sabsfi8d that this is an appropriate fom of investment in Ihe h.ghl of ujrrwrt firnncial m&*èt corKllions. FINANCIAL REVIEW Total in￿rne amoLlltted lo £117.2e6 {2019 - £3,4S¥J). After tY8ducting expenditure. thg charity ended the yaar wlth a surplus of £111.gM)512019- £2,69n. Pagg 2 THE CRAFf POTTERY CHARITABLE TRUST TRUSTEES. REPORT Icontlnuodl FOR THE YEAR ENDED 31 DECEMBER 2020 RESERVES POLICY The Charity is in large part dependent upon t￿ investmont income generated frC￿ its investments to fund rts day to day a￿1vIllaS. The Charity has been fortun* in the ￿51 to receive donali¢fis from Ceramic Rowew Publishing Ltd bul this is not a guaranteed source of income. Thg Tnjsiees therefore int8nd lo maintaln a level of unre$iricted reserves whith gener21g5 surrioeni inve51ment income lo ¢onlinu8 tho chantys activities on an ongoing basis. Al present the unrestrKted reserves of the c*arity amount lo £2C6,63412019- £94.7291 of which £87,000 (2019.. £67,CKXII repr8senl thos8 fur#ts aHrenUy held wi ¢Th.yearfixed rate d8posil8. STRUCTURE GOVERNANCE AND MANAGEMENT The T￿5¢ is constituted un¢Jer a Trust deed daled 2 septem￿ 1991, and is a registered charity number 1004767. fv1ETHOD OF APPOINTMENT OR ELECTION OF TrUSTEES The management of the chwty is the r05ponsibilty of the Trustees are 8lected and co-opted under the terms of th9 Trust deed. Twsleès are nominated by the Council of the Craft Potters Assooation of Great Britain. Trustees are given regular training as rwNred. ORGANISATIONAL STRUCTURE AND DECISION hlAKING Tha Charity does not currently eM￿0Y any staff. Trustees are responsible for th8 management of the Charity and for the furtherance of the objetas for wPll"¢h it is estai4isftd. Th8 Truste8s meet on a regular basis to discuss the affairs of Ihe cttarity. RISK P4lANAGEMENT The Tnjslees have assessed the major risks lo whid) the charity is exposed. in particular those relating to the operations and finances of t￿ Trust. The intemal conms already in Oa¢e a￿ commensurate with the siz8 of the charity and provide a high degree of comfort The Trustees are sab"sfig(I that systems are in place lo miligale the charills exposure to any major risks. TRUSTÉES. ftESpoNSIèIUnES STATEMÉIIT The Trustees are responsib￿ for preparing the Trustees. report and th8 finano'al statements in accordanc6 with applicable la and Unrted ￿'n9￿)M A¢¢ourtirvJ Standards {UThted lQngJom Gèn6r8lly Accepted A¢counting Praciicel. The l&Y applicaok to ch￿tieS in ErKJl8rhl & W8ieg reQ￿re$ the Tnjsteés to preptre finano81 $iai6méntS for each financial year which give a true and fair Mew of the Stale of affars of the Charity and of the incoming re$our¢es and ap￿iCati￿ of r¢styJrces of Ihe thanty for Ihat Period. In FyarirvJ these finanual stalem6n15. the Trustees are required to.. select suitable acoyJntin9 policw and tt*n appty tPth consistently,. ob8erv8 the methots and princ4p1￿ in the chari￿$ SORP: make judgments and ac£ountirKJ estimates that are re850nabfe and withnt pTrpa￿ the finanaal slalemenls on Ihe goirYJ basis ￿lesS rt is inapwopnale lo presume that Ihg charity will wnts.n￿ in oper8b'on. The Trusteos are resFffi8l￿é for keeping proper ac¢ountin9 r8cords that are sufficient lo show and explain th8 charity8 Iransadions and disclose with reasonable ￿euraCY ai any time the financial pogltM)n of the chanty and enatje them lo ensure thai the fin￿cial Statements eomply with the Charrtie5 Act 2011, the applieable Charity (Accoun15 and Reports) R8gulats"ons and the provisions of the Irust dèed. They are Jso re$pon$ible for Safeguarding the asset$ of the chanly ￿ hence for laknng reasonaLle slops for the Prev￿110n and detection of Page 3 THE CRAFT POTTERY CHARITABLE TRUST TRUSTEES. REPORT {¢ontlnu¢d) FOR THE YEAR ENDED 31 DECEMBER 2020 fraud and other irregularrb'es. This roport was approved ty the Trustees. and signed on their bohaff by.. Kyra Cane, Trustee Pag8 4 THE CRAFT POThERY CHARITABLE TRUST INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 INDEPENDENT EXAMINEifs REPORT TO THE TRUSTEES OF ThÉ CRAFT POTTERY CHARITABLE TRUST (the 'charfty) I report to the charity Tru5tee$ on my exwninatffi oflhe accounts of the charity for th8 Year ended 31 December 2020. This repc Regulations 2(K)8 other than any ￿qUIreMent thai the accounts give a 'true and fai¢ view which is not a matter consKler8d as part of an Inde￿ndent examinats'on. I have no eoncems and have come a(yoss rn other matters in f))nne(*"on with Ihg examinalion lo which attention should be drawn in tkn"s report in order lo enable a prow und8rslandirKJ of the a¢¢ounl$ to be reached. Signed." D8tod. 14 December 2021 Murtaza Jessa FCA Page 5 THE CRAFT POTTERY CHARITABLE TRUST INDEPENDENT EXAMINEifs REPORT {¢ontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2020 H8ysm¥iniyre LLP 10 Queen Str8et P*e Lonthn EC4R 1AG Page 6 THE CRAFT POTTERY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVrnES FOR THE YEAR ENDED 310ECEM8ER 2020 Unrnstrlcted funds 2020 Total funds 2020 Tot funds 2019 Note INCOME FROPA: Donations and legacies Other Ir8diw activrties Investm•nls 117,034 117,034 1,305 785 2J2 232 TOTAL INCOME 117,266 117,266 3.490 EXPENDITURE ON: Charitable acliwilies 5.361 4361 6,18T TOTAL EXPENDITURE 5,361 6,361 6. 187 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED GAINS AND LOSSES NET MOVEMENT IN FUNDS 111,905 111,906 111.906 (2,69n 12.697) RECONCIUATION OF FUNDS: Totsl fund$ brought forward 94.729 .729 97,426 TOTAL FUNDS CARRIED FORWARO 206,634 206,634 94. 729 The notss on pages g 10 14 fomi part of these financAal Statements. Page 7 THE CRAFT POTfERY CHARITABLE TRUST BALANCE SHEEr AS AT 310ECEM8ER 2020 2020 2019 CURRENT ASSETS Debtors Cash at bank and in hand 2,165 205279 9,155 86.234 207.434 CREDITORS: amounts fdling due within one year 95.389 (660) NET CURRENT ASSETS 206,634 NET ASSETS a06,634 CMARITY FUNDS Unrestricted fvnds 94, 729 TOTAL FUNDS £ 206,834 94, 729 Th8 finanoal statsmenls were apwoved by the Tn￿￿&3 on 16.IZ. Ll I srgned on th￿r behalf, by. Kyra Cane, Trustea The notes on pages 9 10 14 lom) part of these ffinanc4al ststgnents. Page 8 THE CRAFT POTTERY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POUCIES 1.1 8asl8 of pr•paratlon of Ilnanclal stateM￿ts The financial statement$ have be￿ iYep¥gd to live a f&rf ancl hav8 departed ffom t￿ Charities {Accounls and Reports) Regulab"ons 2CQ8 onty lo the extent required to promde a 'lrue ar￿ tsiff view. This departure has Inv￿Ved foll(xYiTrJ the charib.es SORP IFRS 102} publishe¢J on 16 July 2014 rathw than the Accounting ar￿ Reporting by Chamies." Stat8meni ol Recommen¢Jed Pr8¢bce effecbve from 1 W'l 2¢X15 wfthth has been withdrawn. The finar￿181 statements have been prepared under th8 try'$ioii¢al o)sl c￿Vention wlh items rècogr¥sed ai ¢osl or Irans8¢tion Val￿ unless Olherwise stated in thg relevant notes to these accounts. The finarrial statements have been pr•pared in accordance with the Statem￿1 of Rgcommended Practy'ce.. AccoLmting and Reporb'ng by Charib'8$ preparing their aceounls in accordance with the Finanoaj ReportiThJ StaThJard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16 July 2014 and Finanaal Reporb'ng Stsrvjard ¥pI￿able in tho UAled Kingdom and Republic of Ireland IFRS 1021 arn1 C￿11185 Act 2011. The Craft Pottery C*antaNe Trust ¢(nsts'tules a p￿iC entity as defined by FRS 102. 1.2 Golng concem Having considered futwe Wls and cash flfx¥s, the trustees confimi that they have no material uncertanlies about the entfy's atility to conb'nuo as a goirvJ COn￿M fcr the foreseeable future. 1.3 Incom• All income is reCA)gni￿ once tharfty has entiyement to the income. il is proba￿8 that th8 iTWfne will be recaved and amount of income r￿1vatIe ￿ be measured reliably. 1A Expendfture Ex[￿dIt￿re is recognissd once there is a Iwi or eonstnKaive Obligati(￿ lo transfer economic benefit to 8 Ihitd party, it is probable that a transfer of economic ben8fits wll be required in selllemenl and the amount of the obJigat•Jn can be measured reliably. Expendilur? is classif￿d by ath"vily. The costs of each ac*vity ara made up of the lotal of th.rect costs an¢J shared costs. including SUFPOrt Costs involved in undertaking each actmty. Direct Costs artn￿table 10 8 single activity are allocated dirgclly lo that actm'ty. Shared costs wh￿h ¢ontn"bule lo more than on• acliwly and Sup￿ costs whith are not attribJt*Jle to a single actiwty are apportioned between those activities on a basi$ consistent wlh the use of resources. Central staff costs are alloc*ed on the basis of ts'me spent, and deKYeo*K)n ch&ps alk>caied on tho porrion of the assefs use. Charilat4• activities and Govemanrg costs a￿ costs irthrred on the ¢harity's operations, including supp¢xt co$1$ and costs relats'ng to the wveman¢e of thanty apportroned lo charitable activities. Grants payable ar8 tharged in the year w￿n Ihe offer is made except in those cases where the offer is condits"onal. such grants beirwJ reeognised a$ eypendrture wtr￿n the Conditions attaching are fulfilled. Grants offereij $uttyect to ￿n￿"b"onS which have not t*en met al the year end are noted as a commitment, bul not accru¢d as experKJiiure. 1.6 Interest re¢¢lv•ble Interest on funds held on ¢Jeposit is induded when re￿"Vats1e aThJ the amount can be measwed reliably by the charity." this is rKJrm4ly upon notificab.on of th8 interest paid or payable by th8 Bank. Page 9 THE CRAFT porrERY CHARITABLE TRUST NOTES TO THE FINANCIAL STATÉMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ACCOUNTING POUCIES (Conllnued) 1.6 Debtorn Trade and other debtus we recognised settlement aftw any tra¢Je discount off8red. Prepayments ar8 vdue(l al the amount prepaid net of any trade diS￿ntS due. 1.7 Cash at Bank and In hand Cash ai bank and in h&x)d indudes rAsh and short term hyhly IiquKI investments wrth a short m8lurily c¢ threè months or less from Ihe dale of awulsi1K￿ or o￿nIng of thè depostt or similar amni. 1.8 Llabilttles and pro¥lslons Li8biltb"e$ recognised there 1$ an ob￿gai1(￿ at the Balance sheet date as a rasult of a past event. il is prOba￿e thal a transfer ol Oconomic b8nefil will be required in setllemeni, and the amounl of the settlement can ￿ estimated rdi&)ly. Li*'lits"es are reeognissd al the amount that the charity &7ticipatos rt will pay lo setUe the debt or Ihg amount il has recav&J 85 advanced payments for the goods or sem.ces il must prowde. Provis￿)n5 a￿ measured al th8 bgsl esiirnale of the amounts required to setlla the obligation. Illhere the effect of the ts.me value of money is material the prowsion is based on the wesenl vdue of those aM￿nIS, discounted al th& pre-tax discount rale that ￿flec1S ihe risks SFeCtfjc to the liabilty. The urmiinding of the discount is recognised within interest payable similar Charges. 1.9 Flnanclal Instrument• The tharily only has finanad assels aTrJ financid liabih'ties rf a kind th8t qualrfy as basic finanoal insirumenls. Basic finarrial instruments are initralty recognised at transaction valu8 and subsequently measured ai Il*ir $ettlem8nl value wth the exceplion of bank loan$ which are subsequently measured at arnortised cost usirvJ the effeth"v• interest melh&J. 1.10 Fund a¢counllng Gener* funds we unrestricted [￿dS wf¥ch are availatlg for use at the discwlion of the Tru$lees in fvrtherance of the general oty'ectives ol the chanty and which have not been designated for other purposas. VOLUNTARY INCOME Unre5￿Cted nds 2020 Tot funds 2019 nds 2020 Donatrons Emmanud Cooper dor*tions 20,000 97,034 97.034 £ 117.034 £ 117.034 £ Total 2019 2.000 £ P*Je 10 THE CRAFT P0￿ERy CNARJTABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2020 FUNDRAISING INCOME Unr•strl¢ted funds 2020 Total luTrds 2020 rot* funds 2019 FuThJraising events Total 2019 1.305 £ 1,305 GFIANTS PAYA8LE Number Numbe 2019 lThJividual grants payable - educat Emmanuel Cooper Pnze 3.441 4,235 Total 5,235 DIRECT COSTS Total 2020 Total 2019 Administrative expenses 920 £ 920 £ 952 Total 2019 952 £ 952 NET INCOMEI(EXPENDITURE) This 15 Stat8d after chargirYJ.' 2020 2019 Independent Exaninefs fee 800 Jring the Year. ￿ Trustses roceived any reimbursemont of expens8512019- £NILI. PwJ811 THE CRAFf POTTERY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 DEBTORS 2020 2019 Amounts owed by group undertakn.ngs Amounts owed by conrnded ￿ganIsati¢ Other debtors 1166 1, 155 2,156 9, 155 CREDITORS: Amounts l•lllng du• *lthln one year 2020 2019 Accruals 660 STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at l January 2020 8alancg at 31 Dec•mbgr 2020 Incom• Expendlturn Unrestrlct•d funds Gener81 Funds 94,729 £ 117.268 £ (6,361) £ 206,634 Page 12 THE CRAFT POTTERY CHARITABLE TRUST NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 STATEMENT OF FUNDS Icontlnued) STATEMENT OF FUNDS- PRIOR YEAR Balan￿ at 1 January Balance at 31 ljecember General Funtls 97.425 97.425 Total of fvnds 97.425 £ 97,425 SUMMARY OF FUNDS- CURRENT YEAR B•lan¢e at 1 January 2020 Balinc& at 31 December 2020 Income Expendfture Gweral funds 94,729 £ 117,266 £ (5.3811 £ 206,634 SUMIMRY OF FUNDS- PRIOR YEAR BalarKe at l January 2019 Bal8nc8 ar 31 D￿rnbel 2019 Income Exwdrt. ure General funds 97.425 £ 97,425 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrnstri¢ted funds 2020 Curr8nt assets Cr9dilors du8 within one y 207,434 1800} £ 206,634 Page 13 THE CRAFT POTTERY CHARITABLE TRUST NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEM8ER 2020 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS (contlnu•d) ANALYSIS OF NET ASSETS BE7WEEN FUNDS- PRIOR YEAR Unrestricted funds 2019 cUrr￿t assets Creditors due willin one year 95.389 (660) 94. 729 Page 14