Company registration number: 03097219 Charity registration number: 1049102 ## The Template Foundation (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020 ## **The Template Foundation** ## **Contents (continued)** |Reference and Administrative Details|1| |---|---| |Trustees' Report|2 to 5| |Statement of Trustees' Responsibilities|6| |Independent Examiner's Report|7| |Statement of Financial Activities|8| |Balance Sheet|9 to 10| |Notes to the Financial Statements|11 to 25| ## **The Template Foundation** ## **Reference and Administrative Details** ## **Trustees** Michelle Charlton Terence J Gloag David J Thomas Nicholas Woodeson ## **Principal Office** The Centre Bath Place Barnet Hertfordshire EN5 5XE **Company Registration Number** 03097219 **Charity Registration Number** 1049102 ## **Independent Examiner** PJE, Chartered Accountants 23 College Street Lampeter Ceredigion SA48 7DY Page 1 ## **THE TEMPLATE FOUNDATION LIMITED** ## **Report of the Trustees for the year ended 31st December 2020** ## **Structure, Governance and Management** The Template Foundation is a charitable company limited by guarantee, and set up under a Memorandum and Articles of Association on 1st September 1995. It was formerly known as Emin Arts, and changed its name on 6th September 2001. The directors of the company are also charity trustees for the purposes of charity law, are members of the company, and under the company’s articles are known as the Management Committee. All trustees retire from office at the Annual General Meeting and may offer themselves for re-election at that time. Because of the nature of the work of the Charity, trustees are sought to bring a broad range of experience to the fulfilment of the objects of the Charity. A range of skills are well represented that aid in the governance of the Charity and the furtherance of its objects. Trustees are sought according to skills needed for the proper running of the Charity, and are nominated and elected by the Registered Members. On appointment, trustees are already familiar with the work of the Charity, and are given an understanding of the role of trustees by their fellow trustees. In the event of the company being wound up, members of the charitable company are required to contribute an amount not exceeding £10. The day-to-day management of the Charity is carried out by an operations team which includes all the salaried officers together with some unpaid volunteers. The trustees, in consultation with the operations team, provide the framework and direction for the Charity, while the day to day running and application of this is carried out by the operations team. Governance and associated management activities are carried out to ensure we are compliant with all relevant regulations and law related to our activities in England and Wales. In relation to buildings the operations teams continue to maintain the premises in accordance with Health and Safety legislation, and other regulations that apply, whilst at the same time developing plans for future use. In relation to other significant legal requirements, we are pleased to report that the data protection procedures implemented in 2018, in accordance with the Data Protection Act 2018, have resulted in no data breaches to report for 2020. ## **Objects and Activities** The objects of the charity are: 1) To advance the education of the public by the promotion and further study of human behavioural sciences, philosophy, history, and allied subjects, including arts such as theatre, dance and music and the establishment of centres and facilities; 2) To offer and represent in all activities the natural education and arts of human expression and living derived from the Template and Emin Archives, the on-going body of philosophical and practical research that forms the basis for the charitable activities of the charity, for the benefit of the public; 3) To promote the study, research and exploration of new ways and new applications into all aspects of the above, and to disseminate the useful results of such study, research and exploration for the benefit of the public. Page 2 ## **THE TEMPLATE FOUNDATION LIMITED** ## **Report of the Trustees for the year ended 31st December 2020 (Continued)** ## **Achievement, Performance and Public Benefit** The Charity focuses on the research and development of new templates in many areas and into diverse subjects, based on the Template and Emin archives. These include education, sustainable development, well-being sciences, music, dance, current issues, personal development, human evolution, women’s issues, human spirituality, original theatrical arts and others, and to offer the results of these researches in different ways for the benefit of the public. The aim in each area is to enhance the life, practical skills and contribution to society of the people who participate in the events and activities held at the facilities in London and Wales. This is done through the use of the facilities provided by the charity and access to the skills and experience available within the volunteer body through different media. These facilities provide large meetings halls, libraries and research rooms for the furtherance of this work. In addition, the complex in Wales also includes art and music studios, and residential accommodation for up to 40 people. However, with the lockdown in 2020 most of the events and plans had to be put on hold or cancelled. During this period there has been an in-depth review of the direction of the charity in respect of all activities, facilities and other aspects. It has been a challenging period, but has allowed time to reassess. The Centre, Barnet: A team of people has formed up this year to review the use of the Centre. As part of this there was a liaison with architectural students from the University of Hertford to redesign the centre against certain criteria. Work went on to soundproof the studio and needed maintenance continued. Waunifor Centre: As Waunifor is mainly funded through residential events the year has been particularly challenging financially, and it had to look to a wider range of bookings when the lockdown eased. The role of Waunifor in the overall objectives of the charity is also under review in the light of the current situation. How the objectives of the charity are met is also under review. It is clear that this needs to be more adaptable to the needs of these times and more broad ranging in terms of content areas, written and audio materials available, and the media through which these are offered. During 2020 the charity began to develop further its use of online meetings, conferences and events for volunteers, supporters and for the public. It is anticipated that this approach will continue to develop in 2021 and beyond, and will become an important adjunct to the use of the centres. ## **Public Benefit** . The Trustees consider that in a time of global change, difficulty and uncertainty the Charity offers a focus on universal core human values and templates for living in these times to assist people in leading a balanced, purposeful and progressive life. Page 3 ## **THE TEMPLATE FOUNDATION LIMITED** ## **Report of the Trustees for the year ended 31st December 2020 (Continued)** ## **Risk Management** We confirm that the major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed. Much of the charity’s income is through donations, and these have remained relatively stable over the year. The risk that donations may decrease in the light of the current economic conditions continues. The charity hopes to be more active in 2021 and look to increase donation income. The risk of lack of residential charitable events in Waunifor and the consequent lack of income is under review until the situation with the lockdown is clearer. The charity continues to seek additional sources of funding where possible. ## **Results** The results of the charity are shown in the Statement of Financial Activities on page 3. The net incoming/(outgoing) resources of unrestricted funds, which are the operational reserves of the charity, were £14,433 (2019: –£35,880). There were no net incoming/(outgoing) resources of restricted funds (2019: £0). ## **Financial Review** The accounts for 2020 have been prepared and independently examined by PJE, Chartered Accountants of Lampeter in Ceredigion. The Trustees are pleased by the continuing financial support received during the year, and note that the donations remain relatively stable. The risks associated with the majority of income being through donations have been reviewed, as detailed above. The two facilities that the Template Foundation owns provide the Charity with significant assets. ## **Reserves and Investment Policy** At the year end, the Foundation’s reserves were £30,000. These reserves are held against contingencies and unexpected emergencies, and further work on the Charity’s facilities in Wales and London. ## **Accountants and Independent Examiners** A resolution was passed at the AGM on that PJE, Chartered Accountants, should be reappointed as accountants and independent examiners to the Charity for the ensuing year. Page 4 ## **THE TEMPLATE FOUNDATION LIMITED** ## **Report of the Trustees for the year ended 31st December 2020 (Continued)** By order of the Trustees Mr N. Woodeson On behalf of the Board of Trustees/ Directors Date: Page 5 ## **The Template Foundation** ## **Statement of Trustees' Responsibilities** The trustees (who are also the directors of The Template Foundation for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on and signed on its behalf by: ......................................... Mr N. Woodeson Trustee Page 6 ## **The Template Foundation** ## **Independent Examiner's Report to the trustees of The Template Foundation** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 8 to 25. ## **Respective responsibilities of trustees and examiner** As the charity’s trustees of The Template Foundation (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 Template Foundation 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** 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 Template Foundation 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. ...................................... 23 College Street Lampeter Ceredigion SA48 7DY Date:............................. Page 7 ## **The Template Foundation** ## **Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** ||**Unrestricted**
**Total**
**Total**| |---|---| ||**funds**
**2020**
**2019**| |**Note**|**£**
**£**
**£**| |**Income and Endowments from:**|| |Donations and legacies
3|108,377
108,377
78,987| |Government Grants
3|25,000
25,000
-| |Charitable activities
4|8,233
8,233
34,590| |Investment income
5|39
39
9,027| |Other income
6|41,965
41,965
39,405| |Total Income|| ||183,614
183,614
162,009| |**Expenditure on:**|| |Raising funds
7|(60,482)
(60,482)
(51,593)| |Charitable activities
8|(108,699)
(108,699)
(146,296)| |Total Expenditure|| ||(169,181)
(169,181)
(197,889)| |Net(expenditure)/income|| ||14,433
14,433
(35,880)| |Net movement in funds|| ||14,433
14,433
(35,880)| |**Reconciliation of funds**|| |Total funds brought forward|| ||964,328
964,328
1,000,208| |Total funds carried forward
18|| ||978,761
978,761
964,328| All of the charity's activities derive from continuing operations during the above two periods. Page 8 ## **The Template Foundation** ## **(Registration number: 03097219) Balance Sheet as at 31 December 2020** ||**2020**
**2019**| |---|---| |**Note**|**£**
**£**| |**Fixed assets**|| ||| |Tangible assets
13|801,781
826,124| |**Current assets**|| ||| |Debtors
14|11,031
10,311| |Investments
15|10,263
67,888| |Cash at bank and in hand|187,424
104,467| ||208,718
182,666| |**Creditors: Amounts falling due within oneyear**
16|| ||(16,262)
(14,951)| |**Net current**assets|| ||192,456
167,715| |**Total assets less current liabilities**|| ||994,237
993,839| |**Creditors: Amounts falling due after more than oneyear**
17|| ||(15,476)
(29,511)| |**Net**assets|| ||978,761
964,328| |**Funds of the charity:**|| |**Unrestricted income funds**|| ||| |Unrestricted funds|978,761
964,328| |**Total funds**
18|| ||978,761
964,328| For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors' responsibilities: - The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Page 9 ## **The Template Foundation** ## **(Registration number: 03097219) Balance Sheet as at 31 December 2020 (continued)** The financial statements on pages 8 to 25 were approved by the trustees, and authorised for issue on and signed on their behalf by: ......................................... Mr N. Woodeson Trustee Page 10 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020** ## **1 Charity status** The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation. The address of its registered office is: The Centre Bath Place Barnet Hertfordshire EN5 5XE These financial statements were authorised for issue by the trustees on ## **2 Accounting policies** ## **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. ## **Basis of preparation** The Template Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. ## **Going concern** The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Page 11 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## **Exemption from preparing a cash flow statement** The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. ## **Income and endowments** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. ## _**Donations and legacies**_ Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. ## _**Investment income**_ Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## _**Raising funds**_ These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Support costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Page 12 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: |residual value, over their expected useful economic life as follows:|| |---|---| |**Asset class**|**Depreciation method and rate**| |Land and buildings|2% on cost| |Plant and machinery etc.|33% on cost, 25% on cost and 25% on
reducing balance| ## **Current asset investments** Current asset investments are included at the lower of cost and net realisable value / market value. ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 13 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## **Borrowings** Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. ## **Foreign exchange** Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at the rates ruling at the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate). Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for: 1) exchange differences on transactions entered into to hedge certain foreign currency risks (see above); 2) exchange differences arising on gains or losses on non-monetary items which are recognised in other comprehensive income; and 3) in the case of the consolidated financial statements, exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised in other comprehensive income and reported under equity. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Page 14 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## **Financial instruments** ## _**Classification**_ Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. ## _**Recognition and measurement**_ All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 15 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## _**Debt instruments**_ Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method: (a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. (c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a). (d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. (f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment. Page 16 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **2 Accounting policies (continued)** ## _**Investments**_ Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. ## _**Derivative financial instruments**_ The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes. Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship. ## _**Fair value measurement**_ The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. - **3 Income from donations and legacies** |**3**
**Income from donations and legacies**|| |---|---| ||**Unrestricted**| ||**funds**| ||**Total**
**Total**| ||**General**
**2020**
**2019**| ||**£**
**£**
**£**| |Donations and legacies;|| |Donations from individuals|96,412
96,412
68,937| |Gift aid reclaimed|11,965
11,965
10,047| |Government Grants|25,000
25,000
-| ||133,377
133,377
78,984| Page 17 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **4 Income from charitable activities** |**4**|**Income from charitable activities**|||||| |---|---|---|---|---|---|---| |||**Unrestricted**||||| |||**funds**||||| ||||**Total**||**Total**|| |||**Designated**|**2020**||**2019**|| |||**£**|**£**||**£**|| |Income from charitable activities||8,233||8,233|34,590|| |**5**|**Investment income**|||||| |||**Unrestricted**||||| |||**funds**||||| ||||**Total**||**Total**|| |||**General**|**2020**||**2019**|| |||**£**|**£**||**£**|| |Interest receivable and similar income;||||||| |Interest receivable on bank deposits||39||39|48|| |Other investment income||-||-|8,978|| |||39||39|9,026|| - **6 Other income** **Unrestricted funds** ||**Unrestricted funds**||| |---|---|---|---| |||**Total**|**Total**| ||**Designated**
**General**|**2020**|**2019**| ||**£**
**£**|**£**|**£**| |Fees and supplies|126
87
213
509||| |Rental income|26,070
15,682
41,752
38,896||| ||26,196
15,769
41,965
39,405||| Page 18 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** - **7 Expenditure on raising funds** **Costs of generating donations and legacies** |||**Allocated**|**Total**|**Total**| |---|---|---|---|---| ||**Direct costs**|**support costs**|**2020**|**2019**| ||**£**|**£**|**£**|**£**| |Costs of generating donations and||||| |legacies|58,997|1,485|60,482|51,593| - **8 Expenditure on charitable activities** |**8**|**Expenditure on charitable activities**| |---|---| ||**Unrestricted**| ||**funds**| ||**Designated**
**Total**
**2020**
**Total**
**2019**| ||**Note**
**£**
**£**
**£**| |Allocated support costs
9
108,699
108,699
146,296|| £108,699 (2019 - £146,296) of the above expenditure was attributable to unrestricted funds and £Nil (2019 - £Nil) to restricted funds. ## **9 Analysis of support costs** ## **Raising funds expenditure** ## **Costs of generating donations and legacies** ||**Unrestricted**| |---|---| ||**funds**| |**Basis of**|**Total**
**Total**| ||**General**
**2020**
**2019**| |**allocation**|**£**
**£**
**£**| |Bank charges|232
232
273| |Interest payable|1,253
1,253
2,655| ||1,485
1,485
2,928| Page 19 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **9 Analysis of support costs (continued)** ## **Charitable activities expenditure** |**Charitable activities expenditure**|| |---|---| ||**Unrestricted**| ||**funds**| ||**Total**
**Total**| ||**General**
**2020**
**2019**| ||**£**
**£**
**£**| |Employment costs|31,040
31,040
31,040| |Establishment costs|4,905
4,905
8,390| |Events expenses|7,134
7,134
19,161| |Repairs and maintenance|35,930
35,930
56,627| |Office expenses|1,554
1,554
2,227| |Sundry and other costs|1,782
1,782
1,460| |Advertising and promotion|2,010
2,010
3,047| ||| |Depreciation of tangible fixed assets|24,344
24,344
24,344| **Support costs allocated to raising funds** |**Support costs allocated to raising funds**|| |---|---| |**Basis of**|**Total**
**Total**| ||**Finance costs**
**2020**
**2019**| |**allocation**|**£**
**£**
**£**| |Costs of generating donations and legacies|1,485
1,485
2,928| ## **Support costs allocated to charitable activities** ||||**Premises costs**|||| |---|---|---|---|---|---|---| |||**Administration**|
**including**|**Other support**|**Total**|**Total**| ||**Staff costs**|**costs**|**depreciation**|**costs**|**2020**|**2019**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Support Costs|31,040|14,167|61,559|1,933|108,699|146,296| ||||**Page 20**|||| ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **10 Net incoming/outgoing resources** Net (outgoing)/incoming resources for the year include: |Net (outgoing)/incoming resources for the year include:||| |---|---|---| ||**2020**|**2019**| ||**£**|**£**| |Depreciation of fixed assets|24,344|24,344| ## **11 Trustees remuneration and expenses** No trustees have received any remuneration from the charity during the year. Where a person related to any trustee has received remuneration from the charity, that trustee has not been party to any decision regarding the remuneration. ## **12 Taxation** The charity is a registered charity and is exempt from taxation under the provisions of the small trading tax exemption as relating to charities. Under the terms of the exemption, the charity is not liable to tax on its non-primary income, provided it is less than 25% of the charity’s total annual turnover for the year. The charity is exempt from the requirement to register for VAT as the non-primary trading income of the charity is below the VAT registration threshold. **Page 21** ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** |**13**
**Tangible fixed assets**|**13**
**Tangible fixed assets**|**13**
**Tangible fixed assets**|**13**
**Tangible fixed assets**|**13**
**Tangible fixed assets**|**13**
**Tangible fixed assets**| |---|---|---|---|---|---| |**Land and**
**buildings**
**Furniture and**
**equipment**
**Computer**
**equipment**
**Total**|||||| |**£**
**£**
**£**
**£**|||||| |**Cost**|||||| |At 1 January2020
1,248,596
84,672
2,336
1,335,604|||||| |At 31 December 2020
1,248,596
84,672
2,336
1,335,604|||||| |**Depreciation**|||||| |At 1 January 2020
422,471
84,672
2,336
509,479|||||| |Charge for theyear
24,344
-
-
24,344|||||| |At 31 December 2020
446,815
84,672
2,336
533,823|||||| |**Net book value**|||||| |At 31 December 2020
801,781
-
-
801,781|||||| |At 31 December 2019
826,125
-
-
826,125|||||| ||||||| |**14**
**Debtors**|||||| |||||**2020**|**2019**| |||||**£**|**£**| |Other debtors||||11,032|10,310| |**1**|||||| |At 3|1 December 2019
826,125|-|-
826,125| |---|---|---|---| |**14**|**Debtors**||| |||**2020**|**2019**| |||**£**|**£**| |Other debtors||11,032|10,310| |**1**|||| **15 Current asset investments** |**15**|**Current asset investments**|| |---|---|---| |||**2020**
**2019**| |||**£**
**£**| |Listed other shares||10,263
62,907| Page 22 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **16 Creditors: amounts falling due within one year** |**16**
**Creditors: amounts falling due within one year**|| |---|---| ||**2020**
**2019**| ||**£**
**£**| |Bank loans|13,031
12,026| |Other taxation and social security|1,110
866| |Accruals|2,122
2,060| ||16,263
14,952| Creditors due within one year includes the following liabilities, on which security has been given by the charity: ||**2020**
**2019**| |---|---| ||**£**
**£**| |Bank Borrowing|13,031
12,026| The bank borrowing of the charity is secured against the charity land and property. ## **17 Creditors: amounts falling due after one year** Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity: |been given by the charity:|| |---|---| ||**2020**
**2019**| ||**£**
**£**| |Bank Borrowing|15,476
29,511| The bank borrowing of the charity is secured against the charity land and property. Page 23 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** |**18**
**Funds**|||||| |---|---|---|---|---|---| ||**Balance at 1**|**Incoming**||**Resources**|**Balance at 31**| ||**January 2020**|**resources**||**expended**|**December 2020**| ||**£**|**£**||**£**|**£**| |**Unrestricted funds**|||||| |General|1,641,080||149,185|(60,482)|1,729,783| |Designated|(676,752)||34,429|(108,699)|(751,022)| |**Total funds**|964,328||183,614|(169,181)|978,761| ||**Balance at 1**|**Incoming**||**Resources**|**Balance at 31**| ||**January 2019**|**resources**||**expended**|**December 2019**| ||**£**|**£**||**£**|**£**| |**Unrestricted funds**|||||| |General|1,588,854||103,819|(51,593)|1,641,080| |Designated|(588,646)||58,190|(146,296)|(676,752)| |**Total funds**|1,000,208||162,009|(197,889)|964,328| **19 Analysis of net assets between funds** |||**Unrestricted funds**| |---|---|---| |||**General 2020**
**Total funds**| |||**£**
**£**| |Tangible fixed assets||801,781
801,781| |Current assets||208,718
208,718| |Current liabilities||(16,262)
(16,262)| |Creditors over 1year||(15,476)
(15,476)| |Total net assets||| |||978,761
978,761| Page 24 ## **The Template Foundation** ## **Notes to the Financial Statements for the Year Ended 31 December 2020 (continued)** ## **19 Analysis of net assets between funds (continued)** |**19**
**Analysis of net assets between funds (continued)**|||| |---|---|---|---| ||**Unrestricted funds**||| ||**General**|**2019**|**Total funds**| ||**£**||**£**| |Tangible fixed assets||826,124|826,124| |Current assets||182,665|182,665| |Current liabilities||(14,951)|(14,951)| |Creditors over 1year||(29,510)|(29,510)| |Total net assets||964,328|964,328| ## **20 Analysis of net funds** |**20**|**Analysis of net funds**|| |---|---|---| |||**At 1 January**
**At 31 December**| |||**2020**
**Cash flow**
**2020**| |||**£**
**£**
**£**| |Cash at bank and in hand||104,467
82,955
187,422| |Current asset investments||67,888
(57,625)
10,263| |||172,355
25,330
197,685| |Net funds||| |||**At 1 January**
**At 31 December**| |||| |||
**2019**
**Cash flow**
**2019**| |||**£**
**£**
**£**| |Cash at bank and in hand||136,959
(32,492)
104,467| |Current asset investments||58,909
8,979
67,888| |||195,868
(23,513)
172,355| |Net funds||| Page 25