2021-04-30-accounts

The Fairness Foundation (fornierly The Persula Foundation) (A charitable company limited by guarantee) ANNUAL REPORT AND FtNANCIAL STATEMENTS for the year ended 30 April 2021 Chartty Registration No. 1044174 Company Registration No. 02912767

The Fairness Foundation (Limited by Guarantee) CONTEN'rs Page Legal and Atfrninistrative InfoTm*ion Trustees. R¢FOrt Ststement of Tntstees. Reswbilities Inde￿ndent Auditor's Rqxjrt lo the membeTS of The Fain￿ Foundatton Sia¢ement of Fiwiciai Activities (inc¢xporating the [r￿￿e and ExF¢nditure AcLX)unt) Balanc¢ Sheet 10 Cash flow Ststement A￿)UntIng Policies 12 Notes to the Finanoial Statements 14

The Fairness Foundation (Limited by Guarantee) LEGAL AND ADMtNISTRATIVE INFORMATION GOVERNtNG NSTRUMENT AND LEGAL STATUS The organisation is a private charitable comFofty limi*d by guamtr¢ and re￿thed in England and Wale incoTporated on 25 March 1994 and registered as a cFwity 14 Febnmry 1995. DLREcfoRsrrRUSTEES J Richer P Gladwell {Appoinied= 0911 IQ021) E D Revie (ApFM)inied.. 1211112021) F Crook (Appointed= 1511112021) REGISTERED & PRfNCIPAL OFFICE Rtcher House Hankev Place London SEI 4BB AUDITOR RSM UK Audit LLP Blettheim House Newtnarket Road Bury St Edmunds SufT(Trlk IP33 3SB BANKERS Barclays Bank pk 29 Borough High Sttret London SEI ILY COMPANY REGISTRATION NUMBER 02912707 CHARITY REGISTRATION NUMBER 1044174

The Fairness Foundation (Limited by Guarantee) TRUSTEES, REPORT The Tnjstees are pleased to present their aThnual tnjstees. report togtther with the financial stat￿nents of the charity for the year en(kd 30 April 2021. The financial ￿atemertts romply with the Charities Act 2011. the Cthnpanies Act 2006, and Accounting aT]d Reporting by Charities.. Stal¢ment of Recornmended Prnctice applicable to charilies preparttig their ac£ow)ts in accordkn¢e with the Financial R¢Forting Stsndard applicable in the UK and Republic of treland (FRS 102) (elTcctive l JanLW 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT The Fairness Foundati￿ is a company limited by guara￿ goverrrd by the Memorandum and Articles of As￿latE0￿ dated 25 March 1994. 11 is also registered as a charity. 'The Fairness Foundation was established in 1994 as an independent grant-giving foundatioA It was initiated by the founder of Richtt SouThts Limi*& The Fairne&8 Foundation changed its name from Tr Pa5ula Foun(tition in Decanl>er 2020. ORGANISATION A Board of Trustees administers the charity with daY-l￿daY ma￿ement ofthe chartty ￿Ing ￿rIed out by Lee Nelson. TRUSTEES The following TTUStees have held office during theyearand to the date ofapw)val ofthe fina￿]81 statem¢nts: J Richer D Robinson (Resigned.. 1511112021) Mrs R Richer IResigned.. 1211111021) Mrs H Oppenheim {ReSI￿]ed. 1511112021) R Rosenthal (Resigned.. 1211 IQ021) D Ward (Resigned.- 1211112021) P Gladwell IAppoinÉed= 0911112021) E D Revie (Apwinied= 1211 In021) Crook {ApwTrinted= 1511112021) RECRUITMENT AND APPOINTMENf OF TRUSTEES As set out in the Arb¢l¢s of Associatio￿ there should ￿ a minimum of th￿e mant￿3 of the IM)ard The Board of Trt￿tees meet r¢gu]arly to thinist¢r the chatity. The Tnjstees ensure that they arc aware of deyelopnents to g0vana￿t practice and &veloprnents in the wider charity scetQT. OBJECTIVES AND ACTIVITIES The main objects of the FoU￿18￿On f(ff this period were to wiport charitable organisations and develop original charitable proj¢￿ by providing grJnt& PUBLIC BENEFIT The Trustees have had due regard to the guid8n¢e on public benefrt issued the Charity C4)mmission in exercising their wwtts and dutie5.

The Fairness Foundation (Limited by Guarantee) TRUSTLES, REPORT (continued) ACHIF.VEMENTS AND PERf.ORMANCE Throughout the year Foundation contin￿d to be eonMnitted io knightforward donations however. wherever possible we a150 tried to add valu¢ to charittes M'e like and are able to work with. Being a small charity, we have the benefit of being able to work with very. low governance eost& As we are equipped with considerable organisational skills and eX￿rti¥ we have a preference lo manag¢ ow own original proj¢Xts direcd>' in areas of the Comrnl￿ity that we feel are in wticular n¢e(L S￿on(￿Y to support existing cknties wh¢re we get a measurable outcornc and we can sce that we make a differ¢n(% and lastly to give aid 10 other go(xl eaus¢s. The Truste¢'s made the d￿]51(￿ in Febn]ary 2021 to change the clwtty's n8me the Persula FouThJation to The Faimess Foundation. During the year the Cl]arity has continued io make gtwts available to maiD priorities it bas Identifi￿ 05 set out in note 2c GRANT-MAKING K)LICY t)uring the year the charity cortsiders applicatiOT]s fr￿n a Vdriety of charitable Iwnisations for fijnding. Applications were rEviewed and levels of grams payable are decided u￿n by the Trustees ill accordarKe with Éhe charity's objects. FINANCIAL REVtEW The results ofthe year to 30 April 2021 Are set out inthe Statement of Financial A(tivities on page 9. Th¢ position at the eT]d of th¢ yeaT is shown in the Bal¥￿t Sheet on ￿8t 10. The principal funding source of the chatity w&$ from dorotions fr(Kn Richer S￿￿¢￿ LTmited, which currently aims to give 15D/o of its w>fits edch year io charity. Due io ihe timing of pSedges by The Faimess Foundation the totAI grants given in a year may be more or less than the donations received from Richer Sound5. Th¢ Trustees are 5ati5fied with the results for the year H'hi¢h sknw a surplus of £455.270 (2020= £41,881) tX]e to the low level of operational expenses the Trueesarc5ati5fi¢d that fijtureexpendittwe on charitabl¢ a¢livities can be kept wrythin thc lev¢1 of its illcoTne. RESERVES POLICY The Foundation's policy wtth regard to ￿serVeS is to make suitable investment tn the ongoing development ofthe Foundatio￿ whilst maintaining adequate fi]nds to deal with CUTrtnt and medium terni needs. At the end of the current year, the unresiricted general fi￿d was in Surplus by £499.953 (2020.. £44,683). The level of Erants made is dictatcd by the income ond so there is no swific requirement as lo the level of balance shwt reserves. "fhe surplus in the year is a ￿$￿11 of the final donatiOTt from Richer Sound5 being received closc to the y¢ar-end and the coffesponding grants therefore falling into the following fi[w￿la] vear. tNVESTMENf POWERS I'here are Do Sp￿lfi¢ investment wjwers save the income and pr(yeTty of th¢ charity. from whatever sour derive¢ shall IK applied solely towdrds the promotion of its objects as #ated in the Memor&tKlum and Articles of Ass(Kiation. RISK MANAGEMENf AND ROLE OF IRUSTEES Tlie I'rustees have rnade am assessment of the risks to which the Foundation is extw( in particular busine op¢r8tiL)nal and fllwjcial. and procedures and retM)rtin8 are in plaix lo manage and redu￿ the ideniified risk Procedwes are ￿ place to review identified and new risk's on a regularb&is. The actions needed io be taken if a recognised poteTrtiai risk occur& or if a change in the likelliK￿ of a risk occurring is identificd, have also been considered and ￿e Tnonitored and fornierly reassessed by the Tr￿￿ee5 annuallv. The main bu5in¢s5 risk to the Foundion is the reli#rRce on (kTrnations frffli The PeTsula Foundation. The Trustees of The Per5ula Foundatiotl made li clear th￿ they are committed to providing fijnding to The Paimess Foundation for the for¢seeable fuwre so that it can contitiue in oF¢raiio

The Fairness Foundation (Limited by Guarantee) TRUSTEES: REPORT (contTnued) ruruRE DEVELOPMENTS From November 2021 onwards the foundation has ¢¢ascd to provide grants. Our plm5 for th¢ future are lo act as a publi¢-facing advocacy ¢harity, with a mission to change the deb* about fairn¢ss in the UK by talking to the public, to the media and to policy-makers about how to build a fairer society. We will be focusing in particular on the barri¢r5 that prevent ev¢ryone in the UK from enjoying equal opportunities to maximise th¢ir potential. We will be working towards this goal through acombination ofresearch. policy. advocacy and ¢ommvnications work. RELATED PARTtES The charity has a very close ￿latIonShIp with Richer Sounds Limited and Julian Richer, Fx>th of whom proN'ide significant funding to enable the charity to cany out its ¢haritsble aciivitic5. A summary of transactions with these parties is set out in note 9 to the financiat ststements. THIRD PARTY INDEMNITY PROVISION FOR TRUSTEES Qualifying third party indemnity prov15ion is in place for the benefit of all Trustees. AUDITOR RSM UK Au(bt LLP has indicated its willingness to continue in office. STA TEMENT AS TO DISCLOSURE OF ]NFORMATION TO THE AUDITOR The I rustees who were in O￿tCe on the date of approv￿ of these finan¢ial statements have confirnie& as far as they are aware. that there is no relevant audit inforniation of which the auditor is unaware. Each of the Trustees have confirnied that they have tak¢n all the steps that they ought to have taken as Trustees in order lo make themselves awa￿ of any ￿levant audit information and to establish that it has been ¢ommunicated to the auditor. This report has been prepared in accordance with the provisions applicable to companies entitled to the small cornpanies, exemption. By order of the board JuliaFJ Rtcher Trustee .24 February 2022

The Fairness Foundation (Limited by Guarantee) STATEMEKf OF TRUSTEES, RESPONSIBILITIF.S The T￿s[eeS {who are also dIr¢Ct￿ of The Fainless Foundation for￿ pww>se5 of company law) are reS￿￿]ble ror prcpartng T￿￿ee5. Rewt a￿A the financial In aCcOrda￿t with applicable ]aw and Unid Kingdom Accounting Standards (United Kingd(xn Generally Accq)t￿l Accounting Practi(Y). Covnpany law requiresthe TnL51￿% to PEeFoTe financial statrments foreach financial year which give a and fair view of the state of atfairs of the charitable ¢ompan)' and of the ineoming resoum and application of re9)urce& including the incorne and expeniliture. of the ch&itable company for that peri(¥l. In preFOring these financial sthtement4 the Trustees are ]wuired to". select suitable accounting ￿lie[eS aT]d tha) applv consi&¢ntty" observe the M￿hOdS and principles tn the Charili¢5 SORP. make Jud￿ents and estimates dllt are Teasonable and PTEKlentr state whether applrcable UK accounting standards have followal subie&t kn any material deWthEs disclosed and explauKd in the financial statemer]￿ and preparethe financial statementson thegolngco￿crnbasiSVnltss Tt i5Tr¥wopriatetOF(esLllnethat the ¢hwitable ¢i)mpany will ¢ontinue in ￿SIne The Tntstees are Ecsponsible for keq)iJJg proper &counling reetyds dilos¢ with reasonable a¢¢wacy at any time the financial ￿5Stion ofthe clwiiable company and enable them to ensure that the financial statementscomply with the Companies Act 2(Hkn. Tlw are also tEsponsJble for safeguarding the assets of the charitablc company and hence for tsking reasonable stcps forthe prev¢nlion and detection of fiaud and other irregularities.

The Fairness Foundation (Limited by Guarantee) tNDEPENDF,NT AUDITOR'S REPORT TO THE MEfvIBERS OF THE FAIRNESS FOUNDATION OpiDjI> W'¢ have audited the fina￿7￿1 ststements of The Faimess FouDdatton (the 'charitabJe Company'l forthe year ended 30 April 2021 which Comprise of the Stament of Finaneial Activities. the B￿ance Shee¢ the Cash Flow Statement and notes to lh¢ fiDancial ststements. in¢luding significan¢ a¢rounttng poli¢ic5. The financial reporting framewot ihat has been applird in their pjypardtion is appli¢ablc law and L'nitrd Kingdom Awounting Stsndards, ITKluding l--RS 102"The rinan¢ial Reporting Sthdard applicabl¢ in the UK and Republic of Irelan￿ (United Kingdom Generally Accepted Accouthting Prn¢tice). In our opinson the linancial statements.. give atrueand fairviewofthe state of the ¢h8ritsbl¢compw's affairs as at30 April 2027 andof its incornin8 resources and application of resources. including its income and expenditure: for the year then ended: have been properly prepa￿d in accorthnce with United Kingdthn Generally A¢¢epted Accounting P￿Tice. have p￿partd in x¢orthn¢c with the requi￿￿ents of the Companie5 Act 2(X)6. Basis for opillion We Co￿[U¢led cur audit in a¢cOrdan￿ with Intrmational stand￿d$ on Auditing {UKI IISAS IL'KII and applicabl¢ law. Our responsibilitie5 under thos¢ slandar¢ls are further described in the Auditor's r¢sponsibilitFes for the attdit of the rinanciaS stateTnents section of ourrewrt. We are in(kpend¢nt of ihe ehariiable company in aceordance with the ethical requirements that are relevdnt to our audit of the financial ststcments in thr DK. inc1￿1]ftg the FRC'S Ethical Stand￿d and we have fijlfilled our other ethical reswmsibililies in accothce with th¢s¢ wuirements. We believe that the audtt evtd¢n¢e we have obtsin￿ is 5uifEcieni and appropriw¢ io wide a b&sis fortyjr opiniiJTh. ConelusioN5 relating to going coTrtertr Ln alldiiing the financial sthtements. we hav¢ ¢(mcluthd that the tsustee5' use of the going ¢OTKern basis of xcout)¢ing in the p￿paration of the financial slai¢m¢nts is appropriat¢. B&sed on the WOTk we have ￿rf0mle& we bave tlot identifKd ary matrrial un¢ertaintie5 relating io events orconditions that, Individ￿llY or colle¢iivety. rnay cast sigoificant doubt on the charitable company's ability to continue ￿ a going concern for a period of at Iwi n¥elve months from the financial strtements are authorised for issue. Our rtSPOTJsibiliti¢s and the re5poThsibilitie5 of the trustees with respect to going concern are d&%cribed in the ￿lt￿t se¢tion5 ofthis r¢poTL Other inforniatio The other infOrn￿lIOn ¢ompriscs the infomiaiion included in the Tnstees Re￿rt other ihan the financial stsiernents and our audiÉor s report therton. The trust¢es aTE WtLsible for the ￿her inform￿]0￿ ¢ontsined within the Tr￿t￿$. Report. Our opinion on th¢ financial 51atemcnts d<ts not coverthe other irtformation aud. excepi io the eMent oiberwise explicitly stated ￿ our report we do expytss ]y form of assuran￿ GoDc1￿$10Tr th¢r¢on. Our responsli )ility is to read the other infOrm￿]0n doing so. considerwhether the other inforniarion is materially inconsistent with ihe FJnarKial statements or our knowledge obtsined tn the cOu￿t ofthE audit or otherwise appears to be materially miSs￿led. If we identify such materi81 incor￿151t￿¢[cs or8ppareni rnat¢Tial mi5ststements, w¢ are ￿qUIr to deterniine whether this gives rise to ajnaterial misstr￿Me￿I in thc finan¢iai stsments them5efves. If, based on the work we ha￿ perfonned. we ¢on¢lu(k that thcre ￿ a material tnissraiemeni of this other infornialion. we art wuired to report that fact. We have nothing to re￿rt in regar Opinion5 on oiber matter5 pnscribtd by the Comp*nits Act 21b116 tll our opinion, based on the work und¢rfaken in the coutse otthc audil". the inf0m￿TiOn given in the Trustees. RepoT¢ which includes thc DirectOT5' Report prwed forthe purp)ses of coM$￿Y law. for the fillar￿•81 year for which th¢ financial ststements ar¢ Prepa￿d is con%i5tent with the financial staiem¢rtts- and the DiTECiOTS' Report included within TTUStees' Report has been prep&ed ID accordan¢e with applicable legal r<qu&rements.

The Fairness Foundation (Limited by Guarantee) INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE FAIRNESS FOUNDATION (Continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Trustees’ Report.

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

• obtained an understanding of the nature of the sector, including the legal and regulatory frameworks that the charitable company operates in and how the charitable company is complying with the legal and regulatory frameworks;

• inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

• discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

The Fairness Foundation (Limited by Guarantee) INDEPENDEN'f AUDITOR'S REPORT TO TIIE MEIrfBERS OF THE FAIRNESS FOUNDATION (Continued) As a rtsult of these procedures we consider the most ST￿1]ficant laws and regulations that havc a direct Irnr￿t on thE financial ststeJr¥ents are FRS 102. Charities SORP (FRS 102}, Comwics Act 2006. Charities A¢t 2011 and the charitable ¢ornpany's governing dttumeni. We perfom)edaudit pnTrcedllres ￿ detectnon-compliances which mav have a material impaci on the financial ststments whi¢h inrluded reviewing the fhnancÈal stat¢ments including thc Tjustees. Rewrt and remaining alert to any new or tran￿tiO￿￿ which may not be ID xcordance with the goveming do¢umeHts. The audit engagcment learn idenlifd the risk of override of o)ntro]s &% the where the financial statements We￿ most susttptible to material misststrmenidue ￿ frdud. A￿di1 prw¢dure5 perfornied included but were not limited to testing manualiournal entries and other djusttnerts. evaluaiing the i￿SInesS rationate in rrlalion to aDy signifi￿nt, unusual trdnsactii)ns and ally transaciions e]]tetEd inty Outside the norn￿ course of b￿SIness. A fi￿erde$¢ripti0Tr ofoUr￿5p0nsibil1tieS fortheaudTtofthe fllJan¢ial 5tstements is Icated on the Financial Rewning Council's website at httpJ/www.frc.org.uk1a￿11Ior5rcSwns1bl1lti¢$. This description f(Prn￿ part of our auditor's ￿pOrt. lJ$e of our report This report 15 rnadc solely to tk charttable cornpany's memltTh as a body. ID a¢¢ordan¢e with Chapr i of Part 16 of the Companies Act 2006. (h]r audii work been und¢Etsk¢n 50 that we might 51ale lo the c]Mritable ¢o]npany'5 mernbers those matters we are reqUi￿d to stat¢ to thetn in an awlitor's report and for no oiher purpose. To the fullest extent pemiitted by law, we do nol accept or assume resp(xJsibility 10 8nvone otherthan the charitablc company and the charitable comkmny's membeys as a trrf)dy. for ¢￿￿ audit worL fvthis If￿11[ or for the opinions we have fornied. Claire Suthertand (Senior Swutory Auditor) For and on behalfof RSM UK AbDIT LLP. Auditor Chartered Accountants Blenheim H0￿C Newmarket Road Llury St Edmunds Suffolk IP33 3SB Date 25 February2022

The Fairness Foundation (Limited by Guarantee) STATEMENT OF FINANCIAL AC"rivtTIES (INCORPORATtNG INCOME AND EXPENDI"fuRE ACCOUNT) for the year ended 30 April 2021 No￿$ Unrestrieted Funds 2021 Unrestricted Funds 2020 Donations and gifts Government grants 1,416,876 4,561 1.857,605 Total intome 1.421,437 1.857.605 ExpenditUfT". Expenditure on ch￿ilable aQivities 966,167 1.815,724 Total expenditure 966,167 1.815,724 Net in¢omtl(expeTrditMre) for tbe year 455,270 41.881 Net rnovetnent itt fvnds 455270 41,881 Funds b*lance brought fornrd at l Mwy 44,683 2,802 Funds balance carrled fonward at 30 April 499,953 44.683

The Fairness Foundation (Limited by Guarantee) BALANCE SHF.ET as at 30 April 2021 Charity Registration No. 1044174 Company No. 02912767 Noles 2021 2020 CURRENT ASSETS Cash at bank and in hand 550.183 218.112 550.183 218,112 CREDITORS.. Amounts falling due within one year NET CURRENT ASSETS (50,230) (173,429) 499,953 44,683 NET ASSETS 499.953 44,683 UNRESTRICTED FUNDS 499,953 44.683 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the sma]I companies regime. Approved by the Board and authorised for issue on 24 Febnjary 2022 and $i￿ed on Éts behalf b). Julian Richer Truste¢ The notes on pages 12 to 17 forn] part of th&se financial statements. 10

The Fairness Foundation (Limited by Guarantee) CASHFLOW STATEMENT for the year ¢nded 30 April 2021 Unrestrieted Funds 2021 Unrestricted Funds 2020 usedin operatsng uclivilies Net movem¢nt in fimds 455.270 41,881 Adjustments for.. (D¢¢r¢ase) / Increas¢ in croJitot3 (123,199) 114.776 Net casb froml(llsed in) 0￿rating etivities 332,071 156.657 Chngt irt cash aBd casb equivalents in the year 332,071 156,657 Cash and fdsh equivai¢nts brought fmvard 218,112 61,455 Casb aDd casb equival¢Dts &vried forw4rd 550,183 218.112 Analysis of cba4ge in net Casb at bank and in band l May 218,112 156,657 Cash Flow in the year 332.071 61,455 Cash at battk #nd in haTrd 30 April 550.183 21&112

The Fairness Foundation (Limited by Guarantee) ACCOUNTING POI.ICIES for the year ended 30 April 2021 BASIS OF ACCOUNTING The financial siaternents have iwj prwar¢d in accordance with ACCO￿ting and R¢porting by Charities.. Statement of Recommended PEactice applicable to chatiLies preparing I￿1r accounts in aCcord￿e with the Fina￿la1 Reporting Standard applicable in UK and Republic of Ireland {FRS 102) (effecltve l Janwy 2019) - {Charities SORP (FRS 102)). the Fina￿[al Reporting Standard applY￿b]e in the UK and R4)ublic of Ireland {FRS 102) and the Cornpanies Act 2(Ml6. The Fairness Foundation meets the definition of a public be￿fit entity uThJer FRS 102. Assets and liabilities are initially recognised at histLrical cost or tr8n5artion value unie55 otherwise stated in the relevxni 3￿0w711ng pollcy note& The fmancial statements are pre%ntrd in sterlTn& whith is also the fi￿Ctional CUTrerKy of the cbarity. The accounig are r(Trunded io the n¢Are5t £. The principal aeeounting ￿1]eleS adoptr( judgements 8nd key sources of estimation uncertainty in the prepardtion of the financial sthiements are as follows: GENERAL tNFORMATION The Fairness Foundation is a priV￿C eknitable company limited by guarantee. tncorpornted and ￿gIStered in England and Wale5. The address of The Fairness Foundation's PTincipal place of busin￿ is giv¢n on page l. The nature of The FaiTness Foundation's activilies are set OLll in the Trusi¢es' rctrf)rL GOtNG CONCERN The nature ofthe orgarrisation is suchth its fflly obligation it Iwtomeet isits staffeotsand rninimal ovethead5. Moving forward the charity will be reliani on dona(ions reeeived from the Pe￿Ul8 Fotjndation who have made a funding coJnTnitm¢nt which will cover ongoing costs for a ￿lOd of at leasi 12 months frotn the date of approval of the financial statements. The Trustee5 have evaluated ihis tunding conllnitsnent and have noi identified any material uncertainties in this rewd. A5 a consequen￿, the trusitts klieve the Charity is well placed to manage its business risks and there are no material uncertainties in relation to going concern. Thus they continue to adopt th¢ going concern basis of accouming in weparing the financial ststejnent tNCOME Voluptsary IpKome Inccxne from donattons and grants that provtde CO￿ funding oraEE ofa genernl natttre are re£ogntsed where there is entitlemen¢ Probability of ffceiy and the amount can measuted with suificient reliability. IvvesiMe￿ incopne Interest and dividends are included when receivabl¢ by the tharity. Governmeni Granls Income from government grants wheikn capiia] grants or revenue grants. is rtcognised when the Charity has entitle￿ent to the any ￿rroMI2￿Ce conditions attsched to the grnllts have been met. it is probable that the incoll]e will be received and the a￿OW)1 Can Tr rn￿Ured reliably. 12

The Fairness Foundation (Limited by Guarantee) ACCOLfN"fiNG POLICIES {continued) for the year ended 30 April 2021 EXPENDrruRE Expendtture is recognised when a liability is inCu￿e& Irrecoverable VAT is charged against the (xtegory of resouwes expended for which it incutred. CharitabIeex￿￿dl1￿re Comprises those Costs inCu￿ed by the charity in the delivery of its adivities and services for its beneficiaries. It includes both Costs (an be all￿ated dtrecdy to s￿h actÉvities and those costs of an indir¢ct nature necessary lo supp)rt them. Charitable expenditure includes gov¢rnance costs which are those costs associated with the meeting ajkl the constitutio[￿1 and ststutory requirements of the charit>. and include audit fees and costs linked to the strategic management of the charitv. C¢rtain exI￿ndIt￿e is directly atiributable io st¢cific activities and h&$ been included in those cost categories. Grantspoyable For grants. where the achievemenl of the grani co[￿ltiOnS is in the hands of the grantc¢, the entltE m is recogn15ed as expenditure in the ytar in which the grant is fomittly approved by the Trustees and has been communicated in MTiting io the reciptent. Where the Trnstees retain sufficient direction in determining whethcr future grant instalmeErts will ￿ pai￿ grants are recognised when all condition5 aTe satisfied. TAXATION No pn)vision hasbetn ma& forcoTporation tax as the charity's charitable rendtts it ¢xempt from UK direct taxation. FUNDS Unrestricted funds are donations and other income res(xrces receivable or8enerated for the objects of ihe charity without fijrther specifi¢d purFW)se and available as general fi￿d5. CREDITORS Creditors are recognised where the charity has a present obligation resulting from a p2St eveni that will probably result in the transfer of funds ￿ a third party and the a￿1]Unt thie io settle the obligalion can be measured or estitnated reliably. Creditors nortnally recognised at their Settleme￿ amount after allowing for anv trnde discowjts due. FINANC￿ tNSTRUMEKrs The tNst only has financial assets and financial liabilities of a kiThl that qualify 85 basic financial instnmients. Basic financial in5tnmients are initially recogDised at tr8ffjadion value and subsequently measU￿d at their settlement value. CRITICAL ACCOUNTING ESTIMATES AND Ju[￿EMENTs Estimates and judgements are contin￿*1]Y eval￿ted and are based on historiu] exFtriertt and irther factors, including t￿ctationS of f￿Ule events that are believed to be reasonable under the circiEmstanc¢5. Th¢ Trustees consider that ther¢ have been no criti(xl estimates and judgements in the year. 13

The Fairness Foundation (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENrs for the year ended 30 April 2021 COME FROM tX)NATIONS AND GIFTS 2021 2020 cOr￿rate donors Individuals Goven]m¢nt 8rants 1.416.876 1.850.000 7,605 4561 1.421.437 1.857,605 Ail income teceived in Ix*h years is unrestricted incLYn Government grdnt income relates entirely to the Coronavinjs Job Retention Scheme and has I￿en recognised alongside the cwreSp0t￿7￿g salary costs. EXPENDITURE ON CHARITABLE ACIIWTIES 2021 2020 Expenditure relating ÈO 5pecifi¢ projects Proje¢t ex￿nditure Governanc¢ ¢osts (see note 3) 942.750 18,673 1.773.494 25.870 961,423 1,799,364 2b SUPPORT COSTS 2021 2020 Salari¢s (see note 4) Other cO￿S Prrntin& postsge and 5Eati(xJery 4.744 11,708 4,579 73 4,744 16,360 TOTAL EXPENDITURE 966,167 1,815.724 PROJECT EXPENDTfuRE- st￿lficAnt gr8nts payable 2021 2020 EXPENDIIURE RELATING TO SPECIFIC PR0￿CrS Fair Society Hwnan Rights Animal Welfare Prisoner Supwrt Wornen Support Children Medic Migrant l Refvgees Disabilities M¢ntsl HeaIth Bullying Misccllaneous The Envir(Mmient LGBT The Elderly Domestic Ab￿e 449.564 137,729 98,869 81,500 50.231 41.562 30.000 24.075 20.000 688,959 183,424 187.855 164,422 41,000 159,862 133,824 57,0(10 30,094 12,050 3.000 5.987 46.000 30.446 19,071 10.500 3,000 220 942,750 1.773.494 14

The Fairness Foundation (Limited by Guarantee) NOTES TO THE FtNANCIAL STATE.MENfs (continued) for the year ended 30 April 2021 PROJECT EXPENDITURE- Significant grants payable (continued) The following significant grarts of moEe than £20,IXIO have been awarded in the yw. 2021 2020 ASB Help Amnesty International Article 39 140.( 40.000 20.000 35.000 Chjistians again￿ Poverty COM￿ssion in World Farniing Crisis Crossroads Women's Centre Guys and St Thomas. charity Good Bustness Foundatio Hope and Homes for Children Hicktnan and Rosc 25.000 20,000 30,520 40,000 50.000 i 00.000 50.000 35.0(K) 175.000 20.000 42,000 Just for Kids Law Just Like Us League against Cruel SFxwts 23,500 30.000 30,000 20,000 Liiyry London Mining Network New Economics Freedom Parallel Histories Prison Refom Trust Prisoners Advice SeThRce QS Jordans RSPCA Shclter Soil Ass(xiation Tax Watch Trussell TTUSt 20.000 50.0(M) 25,000 60,000 50,000 25,0(M) 38.554 25.000 50,000 50,430 40,000 i 00,000 50,000 25,(K)O 10,000 35.000 12,500 i 0,000 i 0.000 All grants rAyabl¢ in 21Y21 and 2020 have made to Institutio￿ All expenditure tn both years is unrestricted expenthtsjre. GOVERNANCE COSTS 2021 2020 Insurance Legal expenses Travel and subsimen Bank elwges Audit 816 10.597 679 12.820 5,207 121 7,043 60 7.200 18,673 25,870 15

The Fairness Foundation (Limited by Guarantee) NOTES TO THE FtNANCIAL STATEMENTS (continued) for the year ended 30 April 2021 EMPLOYEES 2021 No. 2020 No. The average monihly n￿nber of perso￿$ employed by the Foundktion during the year vas: Office and management 2021 2020 Staff c05ts of abov¢ person.. Wages and salaries Pension costs 4.697 47 11,546 162 4,744 11,708 No employee eamed more than £60,OCN) in 202112020.. r￿C). No T￿￿tee ￿ctly¢d any remujmtiun during the year (2020.. £nil). EX￿]seS r¢imbursed during the year in respe¢r of trdvelling and subsisteme costs to meetings aTnounted to £0 (2020-. £5.207). 111¢ Charity has paid a premhum of £816 {2020: £679) with r&5￿￿( to in(kmntty Insul￿¢t for its Trustees. The key managemenl ErsoT]nel of the charii>' eOTnwse the trustee5. The total employee I￿efits of the key management personnel of the Foundati(x) were £nil (2020: £nil). NET EXPENDITURE FOR THE YEAR 2021 2020 The net ¢XFcnditu￿ for thE yfdr is ststed after elwging: Auditor's remuneration- ststulory audit 6.200 TAXATION No liabtlity to corporation taxation arises as The Fairne￿ FoUnd￿lOn ¢laims exempiion under the provisions of Section 505 Income atml Corrmtion Taxes Act 1988. CREDITORS.. Amounis falling due within one year 2021 2020 Amounts due to Richer Sounds Limitrd Accruals Taxation and social curity 10230 40,000 3,933 169.183 313 50.230 173,429 16

The Fairness Foundation (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENfs (Continued) for the year ended 30 April 2021 UNRESTRtcrED FUNDS-GENERAL 2021 2020 Balance brought fonvard al l May Net movement in ffiJrKL% for the year 44.683 455270 2,802 41,881 BalanLt Carried forward at 30 April 499,953 44,683 RELATED PARTY TRANSACTIONS Descri￿10￿ Valut oftrAns*rtions in the year Balance gt )wr end Icreiliiorlldebtor 2021 2020 Name of prty Relationship traJMctiott 2020 Rictm Sout l.imtied Richer Sounds Litniled ASB Help by J 1.416.876 1,850.IXX (Trustre) (hvnd b). J Richu Purthas¢s {Ttust¢e) Common Tnjstee {J Richer) Dirtclor (J Richtrl C(bmmon Trusiee 1,899 {10.2301 (3.9331 140.IMM) Taxw¥tdJ tA).(W i(Kb.(MK) G(￿ Busin Foundatio 175.¢ {40,(K￿l 1100.O(D) (J Ridju) 17