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← Triodos Foundation

2021-12-31-accounts

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COMPANY REGISTRATION NUMBER: 03128749 CHARITY REGISTRATION NUMBER: 1052958

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Triodos Foundation

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Company Limited by Guarantee | Unaudited Financial Statements | 31 December 2021

A11 16/09/2022 #38 COMPANIES HOUSE ‘

Triodos Foundation

Company Limited by Guarantee

Financial Statements ;

Year ended 31 December 2021

Contents

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Triodos Foundation

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 31 December 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. |

Reference and administrative details

Registered charity name Triodos Foundation Charity registration number 1052958 Company registration number 03128749 Principal office and registered Triodos Bank UK Ltd office Deanery Road Bristol BS1 5AS

The trustees

The trustees D Hawes B M Watts , EB Wilson — resigned 2 December 2021 S Bowker — appointed 2 December 2021

Company secretary David Hawes

Independent examiner Paul Cridland BSc FCA 61 Macrae Road Ham Green Bristol BS20 ODD

Structure, governance and management

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The company is a registered charity and limited by guarantee. ;

The company is organised so that the Management Committee meet regularly to manage its affairs.

All the trustees are employees of Triodos Bank NV or its subsidiary Triodos Bank UK Ltd. None of the trustees receive any remuneration from the company. The Board reviews the skills required by the charity and recruits new trustees on that basis. Triodos Bank UK Ltd allows the company to use the facilities of the bank to manage the charity free of charge and also reimburses the operating costs of the charity. .

Objectives and activities

The principal activity of the charitable company is the general support of charitable activities through grant making.

The notes on pages 7 to 14 form part of these financial statements.

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Triodos Foundation

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2021

Achievements and performance

The amount of unrestricted donations the charity has received has increased and have been put to good use with grants of £16,000 being made in the year (the financial statements show a net figure of £15,000 as a grant of £1,000 relating to a prior year was returned and written back).

Restrictions necessary as a result of the Covid 19 pandemic required the Foundation to close the meeting space it normally rents to like minded and charitable organisations. This resulted in a reduction in rental income to £2,000 (2020 £5,033). Despite this the Trustees awarded grants of £16,000 in the year, from £7,800 the year before, and the number of recipients increased from nine to ten.

The meeting space remained closed at the Charity’s financial year end.

Public Benefit Statement

The trustees have regard to the guidance published by the Charities Commission and confirm that they are aware of the guidance and that in making decisions, where the guidance is relevant, that they have taken it into account.

Financial review

The Management Committee recorded an increase in financial resources of £18,378, bringing the total funds from £137,648 to £156,026. Of these funds, £63,360 are of a restricted nature and may not be distributed generally.

The Foundation receives many more applications than it can respond to positively both from domestic and international charities. The Management Committee can only consider approaches from charities whose goals closely match those of Triodos Foundation As such only social, environmental and cultural projects that benefit the community as a whole are considered.

Plans for future periods

Whilst our immediate plans are impacted by the Covid 19 pandemic and our consequent reduction in income, we intend to continue our policy of supporting social, environmental and cultural initiatives in the Bristol area where the bulk of our income from rentals is generated.

Reserves Policy

The Management Committee have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the ‘free reserves’) are held on deposit pending expending on charitable activities. A - minimum reserve of £15,000 will be held at all times to cover anticipated annual running costs. At the balance sheet date such free reserves totalled £92,666. The Trustees consider it appropriate to adopt the going concern basis for the preparation of the accounts as detailed in Note 3 to the financial statements.

Investment Policy

The Management committee have considered the most appropriate policy for investing funds and have found that holding funds on deposit is the most appropriate. The Management Committee consider that the return on these deposits in the year of an average 0.1% is normal in the current market conditions.

Fundraising Standards

Triodos Foundation is committed to responsible and transparent fundraising and our Trustees are aware of the need to comply with the regulations from the Charities (Protection and Social Investment) Act 2016. The charity does not engage with any external professional fundraisers. We monitor best practice and ensure we protect vulnerable individuals.

The notes on pages 7 to 14 form part of these financial statements.

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Triodos Foundation

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 December 2021

Risks

The Management Committee have conducted their own review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Given the nature of the charity's current activities there is a minimum external risk to funding. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

The Management Committee has reacted to the risks posed by the Covid 19 pandemic by closing The Foundation meeting space in accordance with Government guidelines and the space remains closed to protect the health of both the Charity's volunteers and the public. Rental income from the meeting space accounts for a significant proportion of the Charity's income. The Charity has sufficient reserves to meet its outgoings in the absence of this income, but donations made in 2021 have been scaled back to ensure the Charity maintains adequate reserves during the current period of uncertainty.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees’ annual report was approved on Thursday 8 September 2022 and signed on behalf of the board of trustees by:

Bevis Watts Trustee

The notes on pages 7 to 14 form part of these financial statements.

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Triodos Foundation

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Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Triodos Foundation

Year ended 31 December 2021

| report to the trustees on my examination of the financial statements of Triodos Foundation (‘the charity’) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | confirm that no material 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 charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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).

| 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.

Paul Cridland BSc FCA Independent Examiner

61 Macrae Road Ham Green Bristol BS20 ODD

8 September 2022

The notes on pages7 to 14 form part of these financial statements.

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Triodos Foundation

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 December 2021

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2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ : £
Income and endowments
Donations and legacies 5 33,840 - 33,840 14,712
Charitable activities 6 2,000 - 2,000 5,033
Investment income 7 85 - 85 240
Total income 35,925 - 35,925 19,985
Expenditure
Expenditure on charitable activities 8,9 17,547 - 17,547 15,675
Total expenditure 17,547 - 17,547 15,675
Netincome and netmovement infunds 18,378 -_ 18,378 4,310
Reconciliation offunds
Total funds brought forward ; 74,288 63,360 137,648 133,338
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Totalfundscarriedforward 92,666 63,360 156,026 137,648

The statement of financial activities includes all gains and losses recognised in the year. Total funds includes restricted fund balances of £63,360. In 2020 there was no income or expenditure in relation to restricted funds All income and expenditure derive from continuing activities.

The notes on pages 7 to 14 form part of these financial statements.

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Triodos Foundation

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Company Limited by Guarantee

Statement of Financial Position

31 December 2021

Company number 03128749

2021 2020
Note £ £
Current assets
Debtors 13 4,353 65,976
Cash at bank and in hand _ 160,040 85,491
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164,393 151,467
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Creditors: amounts falling due within one year 14 8,367 13,819
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Net current assets 156,026 137,648
Total assets less current liabilities 156,026 137,648
Net assets 156,026 137,648
Funds ofthe charity
Restricted funds 63,360 63,360
Unrestricted funds 92,666 74,288
Totalcharityfunds 15 156,026 137,648

For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the board of trustees and authorised for issue on Thursday 8" September 2022, and are signed on behalf of the board by: ,

B Watts Trustee

The notes on pages 7 to 14 form part of these financial statements.

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Triodos Foundation Company Limited by Guarantee

Notes to the Financial Statements

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Year ended 31 December 2021

  1. General information

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The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Triodos Bank UK Ltd, Deanery Road, Bristol, BS1 5AS.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ,

  1. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

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The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Fund accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Designated funds represent donations received for specific charitable purposes. The directors have regard to the wishes of the donors in the expenditure of these funds, but retain absolute discretion in all cases.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.

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Triodos Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

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Year ended 31 December 2021

  1. Accounting policies (continued

income

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All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Expenditure

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be reclaimed.

Trade debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Short terms deposits are cash investments with a maturity of more than 3 months and up to 1 year.

Trade creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past - event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

  1. Limited by guarantee

The company is limited by guarantee and the liability of every member for payment of the debts of the company is limited, in the event of the same being wound up while still a member or within one year after ceasing to be a member, to such amount as may be required not exceeding £1.

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Triodos Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continued)

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Year ended 31 December 2021

5. Donations and legacies

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2021|Funds|2020| |£.|£|£|£| |Donations| |Donations|33,840|33,840|14,712|14,712| |6.|Charitable|activities| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2021|Funds|2020| |£|£|£|£| |Income|from|non-investment|property|in| |furtherance|of the|charity's|objects|2,000|2,000|5,033|5,033|

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Triodos Foundation

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Company Limited by Guarantee

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Notes to the Financial Statements (continued)

Year ended 31 December 2021

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7. Investment income
, Unrestricted TotafFunds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Bank interest receivable 85 85 240 240
8. Expenditure on charitable activities by fund type . .
, Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Grants 15,000 - 15,000
Other costs 1,347 - 1,347
Support costs 4,200 - 1,200
17,547 - 17,547
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Grants 7,800 - 7,800
Other costs 6,705 - 6,705
Support costs 1,170 - 1,170
15,675 - 15,675

The charity made the following donations from the unrestricted fund unless indicated otherwise:-

2001 2020
£ £
1625 Independent People 2,000 1,000
Arkbound Oakupy - 300
Avon Wildlife Trust 2,000 1,000
BA Hope Foundation 3,000 -
BDP Concert 500 -
Bristol & District Tranquiliser Project 500 500
Bristol CHEESE Project - 1,500
Bristol Children’s Help Society . - 1,000
Bristol SOFA Project 2,000 1,000
Cerebral Palsy Plus 1,000 -
Community Farm - 1,000
Eastside Community Trust 3,000 -
Life Education Bristol 1,000 -
Southmead Project - 500
Young & Free 1,000 -
[Expired grant— written back] -1,000
15,000 7,800

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Triodos Foundation

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Company Limited by Guarantee

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Notes to the Financial Statements (continued)

Year ended 31 December 2021

9. Expenditure on charitable activities by activity type

Activities
undertaken
directly		 Support costs Total funds
2021		 Total fund
2020
£ £ £ £
Expenditure in furtherance ofcharitable ~~
objectives. 16,347 - 16,347 14,505
Governance costs - 1,200 1,200 1,170
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16,347 1,200 . 17,547 15,675

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Triodos Foundation

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Company Limited by Guarantee Notes to the Financial Statements (continueg)

Year ended 31 December 2021

10. Independent examination fees

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||||||||| |---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Fees|payable|to|the|independent|examiner|for:| |Independent|examination|of the|financial|statements|.|1,200|1,170|

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11. Staff costs

The average head count of employees during the year was Nil (2020: Nil).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

12. Trustee remuneration and expenses

No trustee or connected person received any remuneration either directly or indirectly.

No director received reimbursement for expenses.

13. Debtors

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||||||| |---|---|---|---|---|---| |2021|2020| |£|£| |Prepayments|and|accrued|income|3,191|2,062| |Gift|aid|receivable|1,163|914| |Other|debtors|Loe|63,000| |4,353|65,976|

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Included in Other Debtors in 2020 was an interest free loan to the Bristol Area Quaker Meeting. This was a bridging loan to facilitate improvements to the Meeting House which better enable them to provide night time accommodation and catering for homeless persons in Bristol. The loan was repaid by 30/06/21.

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14. Creditors: amounts falling due within one year

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||||||| |---|---|---|---|---|---| |2021|2020| |£|£| |Accruals|and|deferred|income|1,200|1,170| |Other|creditors|7,167|12,649| |;|8,367|13,819|

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included in Other Creditors are three charitable grants totalling £6,000 which were approved by the trustees and communicated to the beneficiaries by year end but were not yet paid. .

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Triodos Foundation

Company Limited by Guarantee

' Notes to the Financial Statements (continueg

Year ended 31 December 2021

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 31 December
1 January 2021 Income Expenditure 2021
£ £ £ £
General funds 74,288 35,925 (17,547) 92,666
At
At 31 December 2
1 January 2020 Income Expenditure 020
£ £ £ £
General funds 69,978 19,985 (15,675) 74,288
Restricted funds
At
At 31 December
1 January 2021 Income Expenditure 2021
. £ £ £ ; £
’ Quaker initiative fund 63,360 - - 63,360
63,360 - - 63,360
At
At 31 December
1 January 2020 Income Expenditure 2020
£ £ £ £
Quaker initiative fund 63,360 - - 63,360
63,360 - - 63,360

The Quaker initiative fund was established to help charitable initiatives undertaken by the Religious Society of Friends with preference given to initiatives providing social housing or supporting the homeless. This fund was loaned in 2019 and returned in 2021 and remains available for grant-funding projects connected with the Quaker movement.

16. Analysis of net assets between funds

Analysis of net assets between funds .
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Current assets 92,666 63,360 156,026
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Currentassets 74,288 63,360 137,648

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Triodos Foundation

Company Limited by Guarantee

Notes to the Financial Statements (continueg)

Year ended 31 December 2021

17. Related parties

The trustees of the charity hold senior management positions in Triodos Bank NV or its subsidiary Triodos Bank UK Ltd. During the year Triodos Bank UK Ltd provided administration support to the charity for which no charge was made to the charity. There are various other transactions with Triodos Bank UK Ltd during the year, as follows: :

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  1. Triodos Bank UK Ltd made donations to the charity totalling £25,751 (£12,934, 2020);

  2. Triodos Bank UK Ltd leased a floor of its building to the charity for £1 (£1, 2020)