Registered Charity No: 1063380
THE ANDERSON FOUNDATION
ACCOUNTS AND TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021
RSM UK Audit LLP 25 Farringdon Street London EC4A 4AB
THE ANDERSON FOUNDATION
REPORT AND ACCOUNTS
YEAR ENDED 31 MARCH 2021
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|---|---|---|---|---|
|Index|Page|
|LEGAL AND|ADMINISTRATIVE|INFORMATION|1|
|REPORT|OF THE TRUSTEES|2-4|
|INDEPENDENT|AUDITORS’|REPORT|TO THE TRUSTEES|OF THE ANDERSON|
|FOUNDATION|5-7|
|STATEMENT|OF|FINANCIAL|ACTIVITIES|8|
|BALANCE|SHEET|9|
|CASH|FLOW STATEMENT|10|
|NOTES|TO THE|FINANCIAL|STATEMENTS|11-17|
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THE ANDERSON FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 MARCH 2021
REGISTERED CHARITY NO 1063380
ADDRESS OF THE The Trustees CHARITY Springfield Lodge Colchester Road Chelmsford Essex CM2 5PW
TRUSTEES M Anderson AC Short
BANKERS
National Westminster Bank PLC Wanstead Branch 51-53 High Street London E11 2AB
AUDITORS
RSM UK Audit LLP 25 Farringdon Street London EC4A 4AB
Page 1
THE ANDERSON FOUNDATION
REPORT OF THE TRUSTEES
YEAR ENDED 31 MARCH 2021
The Trustees present their Financial Report and the Financial Statements of the charity for the year ended 31 March 2021.
The audited Financial Statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 2 January 2019.
- Significant activities and achievements
This was an exceptional year. The restrictions imposed by the government due to Covid 19 meant that very few fundraising opportunities arose and our activities were severely curtailed. Our planned bike ride, summer ball and Christmas luncheon were all cancelled. Instead, we held an online Xmas Auction in aid of NHS Charities Together which raised £68,986 which was significantly less than in a normal year. The funds raised are included in restricted funds at the balance sheet date.
At the year end the Foundation had unrestricted funds of £686,473 (2020: £749,025)
The Anderson Foundation Gallery and Studios known as Anderson Contemporary has continued to support Artists by providing low cost artist studios “Residencies”. Due to Covid 19 activities ceased in March and reopened in November 2020 resulting in a penod of costs and no revenue stream.
As a result of Covid 19 the Residencies of seven Artists were extended to December 2021, two Artists being unable to retum for personal reasons. An interim competition for Residencies was held and two new Artists were selected so all nine studios were occupied.
All Artists in Residence donate work to the Anderson Foundation which is available for sale. Fund raising targets have been set and Anderson Contemporary is expected to more than cover its costs in the next year.
Five of our Artists will be holding Solo Shows between now and December 2021 after which they will be vacating. The competition for finding new artists to take up Residencies from January 2022 is now underway.
The Anderson Foundation worked closely with NAS (National Autistic Society) over several years to design and build a purpose built, state-of-the-art School which was to provide high quality autism specific teaching in a wonderful leaming environment. When the School opened in September 2017, every classroom had been designed with autism in mind, complemented by calm, sensory and therapy rooms alongside excellent additional facilities on site to prepare students for a meaningful and active working life in society.
In April 2020 NAS unexpectedly closed the School. We feel totally let down and are bitterly disappointed by the decision of their Trustees
NAS have been involved in operating specialist autism education for over 50 years. They say that they are committed to developing outstanding schools that improve outcomes for young people with autism. For those reasons we supported them. Reality has been different. Unfortunately, it has become apparent that NAS has fallen short of its commitment and failed to
- e« Run the School to the standards required by Ofsted * Provide high quality autism specific teaching ¢ Keep students safe (as highlighted in the Ofsted report following their visit on 15 October 2019).
Page 2
THE ANDERSON FOUNDATION
REPORT OF THE TRUSTEES
YEAR ENDED 31 MARCH 2021
Whilst bitterly disappointed by NAS’ decision to close the School, it is of paramount importance that students safety comes first.
Since May 2020 we have worked with all stakeholders, particularly Essex County Council and the local Members of Parliament, to try to reopen the School open but our help has not always been welcomed by NAS. Over a year later we are still trying to get the School functioning to provide education to those in need.
Again we would like to thank all those companies, individuals and foundations who have helped us with their commitment during the past year. We do not take your support for granted.
2. Short term objectives
As circumstances allow, we will continue to run events to raise money for the benefit of other charities.
3. Future plans
The future is still uncertain as we come out of lockdown and vaccination allows a return to normality. We plan to run a Christmas fund raising event on Friday 3 December 2021.
4. Organisation, Policy and vision
The Foundation was set up by Mark Anderson by trust deed dated 26 March 1997 and is registered as a charity in England & Wales number 1063380. The Foundation is established for the public benefit and has focused on running fundraising events to support other charities. Major charities that have benefitted from donations from the Foundation are the NSPCC, the Marina Dalgleish Appeal, Breast Cancer Research, Help for Heroes and the National Autistic Society.
New Trustees are appointed by the existing Trustees with a minimum of 2 Trustees. The trustees agree the broad strategy and areas of activity including making donations and all day to day operational activities.
The charity has no paid staff and where possible administration services are provided pro bono by the Anderson Group. The Trustees give their time and expertise freely and no Trustee remuneration was paid in the year.
- Grant making policy
The Foundation has established its grant making policy to achieve its objects of public benefit. This policy is reviewed regularly but in recent years has focussed on improving the lives of children on the autistic spectrum thereby advancing public benefit.
Details of how to apply for Artist Residencies are set out on the website at https://andersoncontemporary.co.uk/
- Accounts reserves policy and risk management
The accounts are set out on pages 8 to 17.
The Trustees do not consider it necessary to hold specific reserves to cover future fund-raising events as they tend to be self-financing. The Trustees have a reasonable expectation that there are adequate financial resources to continue in operational existence for the foreseeable future.
Page 3
THE ANDERSON FOUNDATION
REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2021
The risks facing the Foundation have been considered and the Trustees believe that there are no issues of any consequence.
7. Statement of responsibilities of the Trustees
The Trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with United Kingdom Accounting Standards (UK GAAP) and applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the Trustee’s 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 charity and of the incoming resources and application of resources, including the income and expenditure of the Charity for that period. In preparing these financial statements, the trustees are required to:
-
e select suitable accounting policies and then apply them consistently;
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e observe the methods and principles in the Charities SORP;
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¢ make judgements and estimates that are reasonable and prudent;
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¢ state whether applicable UK Accounting Standards have been followed, subject to any departures disclosed and explained in the financial statements and;
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° prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the chanty and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed.
The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- Statement as to disclosure of information to auditor
The Trustees have confirmed that, as far as they are aware, there is no relevant audit information of which the auditor is unaware. Each of the Trustees have confirmed that they have taken all steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.
9. Auditors
RSM UK Audit LLP has expressed its willingness to continue in office.
otvoce eens DPE ccccseseseecesetteeessteeestrseeee the Trustees on He(re( lr,Drustee) and signed on their behalf by:
M Anderson
Page 4
THE ANDERSON FOUNDATION
INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE ANDERSON FOUNDATION
Opinion
We have audited the financial statements of The Anderson Foundation (the ‘charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cashflow Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
e give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources for the year then ended;
-
e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and
-
e have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We have been appointed as auditors under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent matenal misstatements, we are required to determine whether this gives nse to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 5
THE ANDERSON FOUNDATION
INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE ANDERSON FOUNDATION
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
-
e the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report: or
-
¢ sufficient accounting records have not been kept; or e the financial statements are not in agreement with the accounting records and retums; or e we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ responsibilities set out on page 4, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal 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 chanity’s ability to continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the chantty 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 maternal 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 maternal 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 appropnate 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:
- e obtained an understanding of the nature of the sector, including the legal and regulatory framework, that the chanty operates in and how the charity is complying with the legal and regulatory framework;
Page 6
THE ANDERSON FOUNDATION INDEPENDE AUDITORS. REPORT TO THE TRUSTEES OF THE ANDERSON FOUNDATION inquired ol mwment. aTrJ Ihose tharged with g0veman. about their idenlificat and assessment of the Issks of ¥regularitres. inclLJirKJ any kno% actual. suspected or allep instances ol fraud: dtrscussed mallers ab)ut non-complian with lavS and regulaficffis and W fraud mwJht c(cur inclLKling assessment of hjw and where the financial st3tements may be Suptib1e lo fraud As a of these prrxedures consJerthe mosts1gntranI laws aTrJ regulations that have a direci impact on the financaal stslements are Charities SORP (FRS 102). Charilies Act 2011, tsx legislation J charib.es (Protection and Social Inveslment) Act 2016. We perffmed aj11 proceduos lo dÈte(I non4xmpliances which may have a material impact on the financgal ststemen& which lnrjuI reviewing the fThnc4al stslements indudirvJ the Trustees. ReFQrt. remainir¥J alert lo new or unLtsual trans3¢ti¢)ns whi(th may not bè w) a¢o)rdance tAth ts goveming dUrnents. inspeci cOrresF¥JI1 lax aulhoritres and evalualing thi reCed frL¥n intemavextemal thisots. There a no significnt laws and regu181i(¥)s that are assessed as Pwng an if¥Ji imwl cn Ihe The a1 er¥Jagement leam Identified Ihe risk of management ovwride of ¢ontrob as area %there the financaal ststemenlswere rTh)stsuscEptible lo material misstatement due to fraLJ. Audit prCdureS perfotmed vthded bul were fKJI lirniled to testir@ manual ioumal entr and other ajjustments and ewaluatiThJ business rationale in relalion to significanl. unusual IransaCtvS and transac)ns entered 10 outshle the normal coue of busine5S. A further desuipfion ol our res[lti11Ities for the atyjit ol the ffnancaal slatemenls is provhled on the Financial ReFK)iting Counul's website * hiIpjff.fr¢.org.uk1auditWles1Sibilil1¢s. This desuiptwi foims part of our athy1t.5 reporL Use of Ouf report This re[ &$ made sclely lo the ¢haritys trustees asa tody. In accorrjance wilh the Charities Act 2011. Ouf aLJit wort has been uThrtaken so that might slate to the charity's tnJstees lfv)se maiters a requirJ lo stste lo them in audilor's reFK)rt and for no oVr purKM)se. To Ihe fullest extent permitted by law. we do not acpt or assurne responsiknlity to anyone otr than the tharity aThJ the charity'5 truslees a5 a t<. fLY (Mjr aLpJit wxk. ILY tli5 reFQrt, or for the opinions we have f(Nrned. ALCOLM PIROUET For and behaw of RSM UK Audlt LLP. Statutory Audir Chartered Accouniants 25 Farringkn Street Lcrfwjon EC4A 4AB . 10 January 2022 RSM UK AL*Jil LLP is eligible to act as an auditor in terms of seclb)n 1212 of the Comwies Act 20CK8. P•3È 7
THE ANDERSON FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Note | 2021 | 2021 | 2021 | 2020 | |
| income | £ | £ | £ | £ | |
| Charitable activities | 2 | 5,663 | 63,832 | 69,495 | 715,310 |
| Donations received | 5,773 | 5,154 | 10,927 | 158,926 | |
| Investment income | 256 | - | 256 | 1,034 | |
| Total incoming resources | 11,692 | 68,986 | 80,678 | 875,270 | |
| Expenditure | |||||
| Charitable activities | 3 | 48,470 | 47,619 | 96,089 | 74,379 |
| Costofraising funds | 3 | 25,774 | - | 25,774 | 527,906 |
| Total resources expended | 74,244 | 47,619 | 121,863 | 602,285 | |
| Net movement in funds | (62,552) | 21,367 | (41,185) | 272,985 | |
| Reconciliation offunds | |||||
| Totalfunds brought forward | 749,025 | 1,434 | 750,459 | 477,474 | |
| Totalfundscarriedforward | 13 | 686,473 | 22,801 | 709,274 | 750,459 |
The statement of financial activities includes all gains and losses in the year.
All amounts above are derived from continuing activities.
Page 8
THE ANDERSON FOUNDATION BALANCE SHEET AT 31 MARCH 2021 Note 2021 2020 Flxèd Ass¢ts Intangib assets Totsl Fixed assets Cufrent Assets Stock Debt5 Cash al bank and in hand 29.849 14S.422 734246 32.711 319.021 650.296 Total current assets 9J9.517 1.C(12.028 Current Llabiltties Amwnts falling due within one year 1200.2431 1251.569) Net¢uent assets 709.274 750.459 Net assets 709.274 750.459 The funds of the Charity Unresln'cted funds Restn"cted funds 13 686.473 22.801 749.025 1,434 Total charity lunds 709.274 750.459 The finènoal statnI on pages 8 to 17 were appfoved by the Tnjstees on ..16112121... and signed on Ihe If by= rson Trustee Page 9
THE ANDERSON FOUNDATION
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Note|2021|2020|
|£|£|
|Cash|provided|by|operating|activities|14|83,694|127,836|
|Cash|flows|from|investing|activities|
|Interest|income|256|1,034|
|Cash|provided|by|investing|activities|256|1,034|
|Increase|in|cash and|cash|equivalent|in|the|year|83,950|128,870|
|Cash|at|the|start|of the|year|650,296|$21,426|
|Cash|at the|end|of the|year|734,246|650,296|
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Page 10
THE ANDERSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
- ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
- (a) Basis of accounting
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
(b) Going concem
The Trustees consider the use of the going concer basis of accounting is appropnate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the Foundation to continue as a going concem.
The Trustees have assessed the Foundations activities and financial resources. The Trustees believe that the Foundation can easily match income to donations made such that cash flow is balanced. Consequently the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for at least 12 months from the date of this report. Accordingly the Trustees continue to adopt the going concem basis in preparing the financial statements.
- (c) Public benefit entity
The charity constitutes a public benefit entity as defined by FRS 102. The chantty is a trust that is domiciled and incorporated in England and Wales.
(d) Fund accounting Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the Chanity.
Restricted funds comprise monies where a restriction has been placed on their use by a donor (for a purpose which falls within, but a narrower than the general charitable objectives). Restricted funds are distnbuted in accordance with the terms of the applicable restriction.
(e) Incoming resources
All incoming resources are included in the statement of financial activities when the Foundation is legally entitled to the income, there is sufficient probability of receipt and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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e Voluntary income is received by way of donations and included in full in the statement of financial activities on receipt.
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e Incoming resources from interest is included in the statement of financial activities and credited on a receivable basis.
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e Income from events is recognised in the penod in which the event occurs. e Income related to goods donated for auction is recognised when the income is received.
Page 11
THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES (CONTINUED)
- (f) Resources Expended
Expended resources include all material costs on an accruals basis. Costs of generating funds compnise the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the Foundation in the delivery of its activities and services for its beneficiaries. All costs are allocated between the expenditure categories of the Statement of Financia! Activities on a basis designed to reflect the use of the resource.
(g) Governance costs
Govemance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to independent examination and legal fees and are included in expenditure on charitable activities in the SOFA.
(h) intangible fixed assets other than goodwill
Intangible assets are initially recognised at cost (which for intangible assets acquired in a business combination is the fair value at acquisition date) and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised to profit or loss on a straight-line basis over their useful lives, as follows:-
Purchased computer software - 50% straight line basis
Amortisation is revised prospectively for any significant change in useful life or residual value.
On disposal the difference between the net disposal proceeds and the carrying amount of the intangible asset is recognised in profit or loss.
(i) Stock Stocks are stated at lower of cost and net realisable vaiue. When an item is donated or sold it is recognised in the statement of financial activities at fair value, which is the amount the charity would have been willing to pay for the items on the open market.
(j) Financial instruments Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after ~ deducting all of its liabilities.
Financial assets
Basic financial assets, which include sundry debtors, are initially measured at transaction price including transaction costs and are subsequently carried at fair value.
Financial liabilities
Basic financial liabilities, which include accruals and trade creditors, are initially measured at transaction price and subsequently measured at amortised cost.
(k) Taxation The Foundation is a registered charity and as such its income and gains falling within Sections 466 to 493 of the Corporation Tax Act 2010 or Section 252 of the Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to its charitable objectives.
- (I) Irrecoverable VAT The Foundation is not registered for VAT, therefore irrecoverabie VAT is included with the costs to which it relates.
Page 12
THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
(j) Leases
- Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2. Event income from charitable activities
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| 2021 | 2021 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Event | table charges | (1,545) | (250) | (1,795) | 114,680 |
| Eventauction | auction receipts | (2,316) | 63,486 | 61,170 | 387,891 |
| Event | specificdonations | 9,524 | 596 | 10,120 | 212,739 |
| 5,663 | 63,832 | 69,495 | 715,310 |
Income in the previous year comprised of unrestricted funds of £617,785 and restricted funds of £97,525.
3: Total Expenditure
| Unrestricted | Unrestricted | Restricted | ||||
|---|---|---|---|---|---|---|
| Costs directly allocated to activities |
Basis of allocation |
Charitable activities |
Raising funds |
Charitable activities |
Total2021 | Total 2020 |
| £ | £ | . | £ | £ | ||
| Prizes at auctions | Direct | - | (3,814) | 46,119 | 42,305 | 242,026 |
| Eventexpenses | Direct | - | - | 1,500 | 1,500 | 211,206 |
| Donations (note 4) | Direct | 2,500 | - | - | 2,500 | 66,092 |
| Governance costs (note 5) | Direct | 45,970 | - | - | 45,970 | 28,287 |
| Support costs (note 5) | Direct | - | 29,588 | - | 29,588 | 54,674 |
| TotalCosts | 48,470 | 25,774 | 47,619 | 121,863 | 602,285 |
Expenditure in the previous year compnsed of unrestricted funds of £506,194 and restricted funds of £96,091.
Page 13
THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS -— continued FOR THE YEAR ENDED 31 MARCH 2021
| 4. | Donations | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| 2021 | 2021 | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| HKH Kenwright | - | - | - | 6,025 | |
| The Nationa! Autistic | |||||
| Society | - | - | - | 38,462 | |
| Tiemey Kinsella | - | - | - | 20,000 | |
| Other individual donations | |||||
| under£5,000 | 2,500 | - | 2,500 | 1,605 | |
| 2,500 | - | 2,500 | 66,092 |
Donations in the previous year comprised of unrestricted funds of £46,092 and restricted funds of £20,000.
5. Analysis of governance and support costs
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Auditfees | 7,500 | 14,880 | |
| Accountancy Fees | 7,740 | 8,420 | |
| Administration Subscriptions Gallery running costs |
30,730 - 29,588 |
5,588 (601) 54,674 |
|
| 75,558 | 82,961 | ||
| 6. | Staff costs and numbers | ||
| The charity has no paid staff. | |||
| Trustees are considered to be key management personnel. | |||
| 7. | Intangible assets | ||
| Computer | |||
| Software | Total | ||
| £ | £ | ||
| Cost | |||
| At 1 April 2020 and 31 March 2021 | 11,340 | 11,340 | |
| Amortisation | |||
| At 1 April2020 and 31 March 2021 | 11,340 | 11,340 | |
| Net book value | |||
| 31 March 2021 | - | - | |
| Net book value | |||
| 1April2020 | - | - |
7. Intangible assets
Page 14
THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS -— continued FOR THE YEAR ENDED 31 MARCH 2021
| 8. | Debtors | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Other debtors | 115,431 | 232,787 | |
| Prepayments and accrued income | 29,991 | 86,234 | |
| 145,422 | 319,021 | ||
| 9. | Creditors: Amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Trade creditors Accrualsand deferred income |
58,694 141,549 |
68,148 183,421 |
|
| 200,243 | 251,569 | ||
| 10, | Deferred income | ||
| 2021 | 2020 | ||
| £ | £ | ||
| At 1 Apnil 2020 | 5,513 | 1,410 | |
| Less amount released to income | |||
| resources Amounts deferred in the year |
(4,013) - |
(1,410) §,513 |
|
| At31March2021 | 1,500 | 5,513 |
Deferred income totalling £1,500 (2020: £5,513) represents amounts received in advance of future events.
11. Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Withinoneyear Between oneand fiveyears In over five years |
14,400 57,600 258,000 |
14,400 57,600 273,600 |
| 330,000 | 345,600 |
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THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
12. Analysis of net assets between funds
| Unrestricted | Restricted | 2021 Unrestricted |
2021 Unrestricted |
Restricted 2020 |
|
|---|---|---|---|---|---|
| Funds | Funds | Total | Funds | Funds Total |
|
| £ | £ | £ | £ | £ £ |
|
| Current assets | 886,716 | 22,801 | 909,517 | 1,000,594 | 1,434 1,002,028 |
| Current liabilities | (200,243) | - | (200,243) | (251,569) | - (251,569) |
| Fund Total | 686,473 | 22,801 | 709,274 | 749,025 | 1,434 750,459 |
| Movement in funds | |||||
| At 1 April | Incoming | Outgoing | At31 March | ||
| 2020 | Resources | Resources | 2021 | ||
| Unrestricted funds: | 749,025 | 11,692 | (74,244) | 686,473 | |
| Restricted funds: | 1,434 | 68,986 | (47,619) | 22,801 | |
| 750,459 | 80,678 | (121,863) | 709,274 |
13. Movement in funds
Restricted funds comprise net amounts raised specifically for NHS Charities Together that have not been formally donated at 31 March 2021.Income and expenditure was incurred during the financial year in support of this individual, with the restricted funds at 31 March 2021 of £22,801 reflecting amounts received and not yet spent.
Movement in funds — previous year
| At 2 April | Incoming | Outgoing | At31 March | |
|---|---|---|---|---|
| 2019 | Resources | Resources | 2020 | |
| Unrestricted funds: | 477,474 | 777,745 | (506,194) | 749,025 |
| Restricted funds: | - | 97,525 | (96,091) | 1,434 |
| 477,474 | 875,270 | (602,285) | 750,459 |
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THE ANDERSON FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
14. Reconciliation of net movement in funds to net cash flow from operating activities
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Net movements in funds | (41,185) | 272,985 |
| Deduct interestincome shown in investing activities | (256) | (1,034) |
| Decrease/ (increase) in stocks | 2,862 | (1,612) |
| Decrease/ (increase) in debtors | 173,599 | (83,826) |
| Decrease in creditors | (51,326) | (58,677) |
| Netcash provided by | ||
| operatingactivities | 83,694 | 127836 |
| 15. | Analysis ofchanges in netfunds | |||
|---|---|---|---|---|
| At start of | Cash | At end of | ||
| year | flows | year | ||
| Cash atbankand in hand | 650,296 | 83,950 | 734,246 | |
| 650,296 | 83,950 | 734,246 |
16. Trustees remuneration and related party transactions
No trustees received any remuneration from the Foundation. No trustees or other person related to the Foundation had any personal interest in any contract or transaction entered into by the charity during the year apart from those detailed below. There were no Trustee expenses incurred during the year.
The Anderson Group of Companies supports the Anderson Foundation through the provision of pro bono services and attending fundraising events, the services cannot be reliably quantified. Mark Anderson is a director and shareholder and Andrew Short is a director (appointed 1 June 2021) and company secretary of Anderson Construction Limited.
- Control
There is no controlling party.
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