BUSKAID TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Statement ol TrustOos' re8ponslbllltie$ The Trustees are responsit4e lor Pfepanng the Trustees, ReFQrt aThJ the linanual slalements in acLordance wrth applicable law arKI Unrted Kingdom A¢¢ountir¥J StarKlards (United Kingdom Generally Accepted Accounting Practice). Th8 law arplicaNe to charilies in En￿ar#I & Wales Nuires the Twstees to prepare linanC￿ ststemonls for each financial which give a true ￿ laif ol the stale ol altairs ol the Charity a￿￿ ol Its incoming resources and application ol resources. irtlLbYing its irwme and experMJilure. for that perK¥J. In preparing these linancial slatemenls. the Trustees are required to.. select suilat40 a¢¢ountiro p)liues and then apyty them cortsislenuy; observe the melhots and pri￿lpleS ol the chant￿ SORP IFRS 1021.. make judgments aTrJ aceounth'ng eslimales that are reasonable and prlthnt.. stale whether applicable UK Accounting Standards IFRS 1021 have teen fol￿wed. $LA)jecl to any material departures disclosed a￿1 in the fina￿la1 statements., prepare the financial slalement$ on the goirMJ con¢ern basts unloss il 1$ Inapwrcpriale lo presume that the Charity wll continue in twsiness. The Trustees are restKsnsible for keeping adequate aceourrting records that are sUff￿lent to Show and eX￿aIn the Charws transaci￿nS and disdose with reasonable accuracy at any lime the linanual Fosilion ol the Charity and enable them lo ensure that the linan¢ial statements comF4y the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the pws*)ns ol the Trust Deed. They are also responsible lor safeguarding the assets ol the Charity aThJ hence for takirvJ reason&* steps lor the prevention and d￿0th1on of fraud and other irregularities. Approved by order ol the members ol the board ot Trustees on their beh 11 by and signed on ir Alan Mose• Ichair ol Trustees) BUSKAID STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 RestTlct•d Unrestricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Incomo from: Donations and legacies Investments 795 28.669 13 29,464 13 12.238 12,249 Totsl Income 29.477 Expendlture on". Raising lunds Charita￿e actsvitios 55 11,554 37,471 Total 8xwndlturn 1.862 37.471 11,609 Net movement In lund$ (1.067) {6.927) 17,994) 640 Reconclllatlon of lynd8: Total lurKls brought forward Nel movement in lurnts 11.737 {1,06n 11.1n 16.927) 22,910 17,9941 22.270 640 Tol81 funds carrled fon¥ard 10.670 4.246 14,916 22,910 The Stalem¢nl ol Financial Actimties Ir¢1￿ all gains arnl losses recognised in the yeaf. The notes on pages 10 10 22 lom) part of these linartial siatemenis. Page 8 BUSKAIO BALANCE SHE AS AT 310ECEMBER 2￿21 2020 Current assets Debtors Cash al bank and in harKI 1,601 13,734 1.677 23,827 15,335 25.504 Cr¢dilorg'. amounts lalling due ￿h1n or year 12 1420) (2,594) Nel curront aguts 14,915 22,910 Total a880ts less currnnl Ilabllllles 14.915 22,910 Tolal net as80ts 14.915 22,910 Charlly lunds Fleslricted tunds Unresiricled luThJs 14 10.670 4,245 11,737 11,173 14 Total fund• 14.915 22.910 The finandal slalements ￿Te apwoved and lor issue by lh• Trustees on 2q 10 signed on Iheir tehall by". Alan Mo (Chair ol Trustees) The notes on pages 10 to 22 form part of these tinancial siaiements. BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 DECEMBER 2021 Genernl Infom)atlon Buskaid is a Charity registe￿1 in ErylarKI a￿1 Wales. numtsr 1015089. T1￿ acklress bs PO Box 67049. LonO)n. W12 2FT. Accountlng pollcles 2.1 Ba818 of prnparatlon ol Iln•n¢lal $tat•mènts The financial statements have twi prepaie(l in accOrdar￿e with the Charities SORP IFFIS 1021 Accounting and Aewrting by Chanties.. Statement ol Recommended Praetiee aFplicable to chafilies preparing their accounts in accordance wlh the Finar￿￿ ReFQrtirrfJ Standard applicable in the UK and Republic ol IrelaThJ IFRS 1021 leffectsve 1 January 20191, the Financial Reporting Standard applicable in the UK ar¥J Rewbk of IrokirKI IFRS 1021 and the chai11￿ 2011. The linancid siaiemfrnts have boen wepaT•J 10 give a and laif view and have (knpart*J from the Charitses (Accounts and Reports) Regulations 2008 only lo the exlenl required lo provide a 'lfue and lairf view. This departLbre has invotved following the Charities SORP IFRS 1021 published in October 2019 rather than the Aceouniing and Reporting by Chan1￿.. Statement ol Re¢ommended Practice etteclive Irom l April 2CK15 w*Kh has since t¢en ￿t￿1raWn. Buskaid meets the delinition ol a publie benelit entity under FRS 102. Assets and liabilities are initially recognised al histor￿1 cost or Iran&thin value unless otherwise staled in the ro￿vant accounting policy 2.2 Incorne All income Is recognised once the Chafity has enlrtlement to the illcome. it is probable that the income will be receive(l a￿1 the amount ol irwme recwvatle can be measured feliably. The recogniknon ol in¢omo from lega¢ies is dgperKlent on e$t*i$hiw ￿trtlement. the probability ot receipt and the ab'lity lo estimate wlh suff￿le￿I accuracy the amount receivable. Evidence ol entitlement to a legacy exists when the Charity has sultiuent evKJence that a gift has been left lo Ihem Ilhrough kn¢)wledge of the existence ol a Val￿ wll and Ihe death ol the benelaclorl and the execut￿ is satisfied that the property in question V•ill nol be required to satssfy daims in the estate. R￿elp1 ol a legacy musl be r6rognised when it is probat4e that rt ￿11 be received and the Iwr value ol the amount receNable, which wll ge￿T￿lY be the expected cash amount to be distributed lo the Charrty, can be rella￿Y measuied. Grants are Inc[￿led in the Sialemert of Fin￿la1 AclNities on a receivthe basis. The bajance of income received lor specrfic puwes tyJt gN)t expeThJed duriThJ the period is shown In the Televanl funds on the Balance Sheet. Where income is recefftj in advance of entitlement of receipt, ils recognition is deferred a￿1 ir￿l￿ded in creditors as delerred Ir￿rne. Where entillemenl occurs before income is received. the income ￿ accrued. Irwme tax r￿0VeratI8 in relation to investrnent i￿)me is r6rogrisgJ at the time the investment irtome is receivable. BLISKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng polic1•$ {¢ontlnuedl 2.3 Expendllure Ex￿1￿j11￿re is recogniwl once there is a l&Jal or constructive obl*Jation lo translef economic benefv'l lo a third paty, it is probable that a Iransler ol economic benetrts will be required in settlement and the amount ol the ok￿￿all0￿ can L* measured ieliably. Expenditure is accounted lor on an accruals basis and has been included urxler expense categones thai aggregate all costs lor all￿ation lo acliviites. Expenditure on raising lurKls incI￿yeS all expenditure incurred by the Charity lo raise funds lor ils charit￿e purp)ses aThJ irKkKles costs of lurKlrwsing actNilie5 events and nonn ol bank loans which are subsequently measured al amortised cost usiNJ the effectiv8 inleresi melh(MJ. 19 Fund ac¢ounllTha General fu￿1S are unrestricted lurkts wh￿h are available for use at the discrelK•n ol the Trustees in furtherance ol the ge￿r* objectsves ol the Charty and which havo noi L*en desBJnaled lor olh rwrFK)ses. Restricted tunds are funds are lo be used in acc4)rda￿e wilh ¥￿fiC restrictions imposed by donors or which have been raised by the Chariiy lor particular wrFKJses. The cosis ol raising and administering such funds are Charged against the Spe￿ fut*J. am and use ol each reslrKied lund is sel Out in the noles lo the linanciJ slalem¢nts. Inveslmeni {r￿Me, gwns arAJ losses are a)oc*ed to Ihe apyopr￿ie tun 8USKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from donatlons and 18ga¢les Restrlcted Unrestrlcted funds funds 2021 2021 Total funds 2021 Tolal lunds 2020 Donatlon8 Charles Beare Richard Williams Tristan Jakob-Hoff & Amy Waker Roger & Rosemary ChactsJer Oouglas de Jager Maya Homburgef Richard Buccleuch Elizabeth Gardiner Bart>ara WolleT The Glyn Harper Tnjsi L•ga¢lè• The Estate of Ihe bale Beryl Monimef The Esiate ol ihe kte Margarel Hulmes Grants 1,500 I,ooo 700 700 500 500 2,000 Buskaid USA Surrey Square Charltth Tfusl 3.694 250 250 Sublotal detalled dl8¢losure 11,344 11,344 12.700 Donationg Legacie$ 795 17,325 18,120 4,538 (5,000? Total 2Wa1 795 28,669 12,238 Tota12020 11,338 12.238 BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Investment Income Unwestrl¢t lunds 2021 Total funds 2021 Tot* funits 2020 Bank interest received 13 13 Tota12020 Expendlture on ral•lng fund• Co•ts ol ral•lng voluntary Incom• Restrlcted lund& 2021 Tolal fund8 2021 Total lunds 2020 CO delivery cosis Total 20 55 Analysls of gran1¥ Granls to lTrsti¢utions 20 Total lunds 2021 Tolal funds 2020 Buskaid SA rota12020 5.000 BUSKAID PIOTES TO THE FINANCIAL STATEMENTS FOA THE YEAR ENDED 31 DECEMBER 2021 Analysls ol expendtturn on charltable activitle$ Summ•ry by lund type Restrlcled Unrestrlcted funds funds 2021 2021 Total funds 2021 Tolai funds 2020 Promoting pertomiance and aFpreciat￿n of musi¢ in the townships ol S￿th Al￿a 1.862 35,609 37,471 11,554 Tola12020 11.332 11.554 Anatysls ol oxpendlturn by •¢tlvttle• tlvitlès undertaken dlrectly Granl lundlng of acllvltle* 2021 Support CO8t8 2021 Total funds 2021 Tot lunds 2020 Pfomoling perforrnarte and appreciation ol music in Ihe townships of s￿ Africa 7,307 37.471 17,554 Tota12020 3.537 5.000 3.017 11.554 BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOA THE YEAR ENDEO 31 DECEMBER 2021 An8lysl$ of expendlluye by actl¥ities (conllnued) An8lysls of dlrect Costs Tot81 funds 2021 Tolal lunds 2020 Actlvltle8 2021 Shipment cost ol items to BuskaKI SA Newsletter design, printing and rx)sling Virtual concert costs usic tt￿￿er$, tees Donations ol equipment and musi¢ lo Buskknl SA D¢gital markelirwJ 1.197 1,197 1.285 1,995 3,510 516 1.995 3,510 516 375 1,577 Totsi 2tr21 7.307 7,307 3.537 Total 2020 3.537 3,537 AMty8l• ol Support Costs Total fund$ 2021 Total lunds 2020 Adlvltl•8 2021 Administrator fees Administration c(*ts B0Okkee￿r Accountancy FLJndraising F4attofm lees Bank charges Storage costs Trustee meets'rgs acknini8tralrf 1, 188 433 576 673 576 673 420 479 479 479 65 loo Totsl 2021 3,017 Total 2020 3,017 3.017 BUSKAID NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 DECEMBER 2021 Independent ex8minerf$ rmiuneratlon he irtyn(lenl examinatK)n pfovMl&l ryo Lx)N>. The value of thi8 cannot t* rel￿￿ measui&J. 10. Tru•lws' remuneratlon and expenses Durlng the year, no Trustees receivgJ any remuneral￿n or Other t¢nelil$ (2020- £NIL). During the year e￿Ied 31 Deceml)ef 2021, no Trustee expenses have bg8n in¢urro0 (2020- £NILJ. 11. Dobtors Ouo wlthln one year Other deblofs Prepayments and accrued ir￿orne Gift Aid lax recover&le 309 1,368 1,358 1,601 1.677 12. cr￿￿or$. Amounts lalllng due wlthln one 20 Other creditors Ac¢fuals deferred income 420 652 420 2,594 BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. Flnanclal Instrnments 2021 2020 Flnanclal a88ets FinarKial assets measur&J at amortised ¢ost 13,738 Z3.827 2021 2020 Flnanclal Ilabllllles FInar￿la1 lia￿.111185 measufed al amort[s￿l cost 14201 12,594) Financial assets Measur￿ ai amortis¢d Costs comprise cash al bank arKI in hand and other debtors. Fina[￿la[ lith'1rt￿ measured al amortised cost cL￿￿se other ¢re(fitots and at¢ft￿S. BUSKAID NOTES TO THE FINANCIAL STATEMEIUS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Statement of funds Statement ol funds- currenl y 8alance at 31 Decembgr 2021 Balance al 1 January 2021 Incomo Expondlture Vnrestrlcted funds General Fund 11,173 28.681 (35,609) 4,245 Restrlcted fund$ Boikanyo lamily fund Instrument luTrJ Kwela album tur#J The Buskaid Music School e￿OnSI)n 420 375 11,1881 (6741 93 47 9,626 9,626 11,737 795 {1,862) 10,670 Tol41 ol lund• 22,910 29,476 137,4711 14,915 Aim use ol restr￿•￿ funds: The B¢ykanyo lamity lund was sel w) in a previous year to SUPFQrt ltte family ol these slLKients who attend 8uskaMd. The instrLtmenl lur*J was set up in a year and Ihe funds are lo contribute to Ihe Cost ol violins and violin accessor*s loc the 8uskawJ SKhool. The Kwela altjum lurKI was set up in a previous year to furKI the p￿￿tKIn ol this CD I"SLFnrise'l. The 8usk&d Music School extension fund was sei up in a prior year to fund Ihe future eXtenS￿n of the Buskwd MUS￿ IxJthn9 in Soweto. BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Stotemenl of fvnds {¢ontlnued} Slalemenl of tunds- prlor year Balance al 31 D￿mber 2020 Balance al l January Unre8trlcted funds General Fur¥J 11,158 11,349 (11,334) 11.173 Re8trlcted fund• Boikanyo family lur#J Inslrurnent fund Kwela album fund The Buskaid MUS￿ s￿￿1 e*ertsK*n (127) (94) (55) 375 344 959 9,626 11.113 (276) 17,737 Totsl of lunds 22.271 12.249 (11.610 22.910 BUSKAID NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Summary of funds Summary of funds- current Balance at 31 December 2021 Balance at 1 January 2021 Incomtr Expwdllure General funds Restricted funds 11.1n 11,737 28.681 795 135,6091 (1,8621 4,245 10,670 22,910 29,476 137.4711 14.915 Surnrnary ol funds- prlor year Balance ai 31 Decembe 2020 Balance al l January 2020 InL¥wne ExKwR*ture General lur Restricted funds 11.158 11,113 f 1.349 (11,334) (276) 11.173 11,737 22.271 12.249 (11,610? 22,910 BUSKAID NOTES TO THE FINANCIAL STATEMEK FOR THÉ YEAR ENDED 31 DECEMBER 2021 16. Analygls ol net 08gets between funds Analys18 ol ngt assets b8lween lunds- curwent yg•r Restricted Unrestrlcted funds funds 2021 2021 Total funds 2021 Current assets Cfodhors due 4vrttrMn one y 10.670 4,665 {4201 15,335 (4201 Total 10,670 4.245 14,915 Analys18 ol auets betwe•n lunds- prknr ymr Restncl80 Unrestrttthg luAKIs 2020 Toiai lund$ 2020 2020 Current assets Creditors due wrthin one year 11,736 13,768 12,594) 25,504 (2.594) 11,736 11,174 22,910 Totsl