**Charity number: 1074025** 

**Company number: 03667290** 

**(England and Wales)** 

## **Helena Kennedy Foundation** 

**Report of the Trustees and Unaudited Financial Statements** 

**For the year ended 31 May 2021** 



## **Helena Kennedy Contents Page For the year ended 31 May 2021** 

|Report of the Trustees|1 to 7|
|---|---|
|Independent Examiner's Report to the Trustees|8|
|Statement of Financial Activities|9|
|Statement of Financial Position|10|
|Notes to the Financial Statements|11 to 20|





## **Helena Kennedy Report of the Trustees For the year ended 31 May 2021** 

The Trustees, who are  also  directors  for  the  purposes  of  company  law,  have  pleasure  in  presenting  their  report and  the financial statements for  the  charitable  company  for  the  year  ended  31 May  2021.  The  Trustees  have adopted the provisions of 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  the  Republic  of  Ireland  (FRS  102) (effective 1 January 2019). 

## **Chair's report** 

The Helena Kennedy Foundation exists to support disadvantaged  students  from  the  further  and  adult  education sectors  to transform their lives through higher education and fair access to the graduate professions. 

The Foundation was established in 1998 to  make  a  practical  contribution  to  government  policies  on  widening participation  in higher education  and  promoting  social  inclusion. We  aim  to  tackle  social  injustice  by  supporting those  who  face  multiple barriers to participation in education and work to fulfil their potential. 

Since our creation, the Foundation  has  provided  financial  support  to  nearly  2300 students.  With the costs associated with studying in higher education continuing to rise and a   challenging   employment   market impacting   on   opportunities   for students to gain access to part time work to support their   studies,   this   support remains   more   relevant and   important   to students'   needs  than  ever.  We  award  bursaries  of  £2,250 -  which we   increased  in  2018 from  £1,500 to    reflect    the increasing   financial   burden   faced by students -to individuals   who   have   successfully   completed   a   program   of   study   at a further education sector college and are progressing on to a course in higher education. 

All the students we support come from low income backgrounds and face financial difficulty. Our students are a testament to the power of education in overcoming social disadvantages and include: 

- Students labelled as failures by the schools' system, often because of undiagnosed learning difficulties such as dyslexia. 

- Students lacking parental and family support. 

- Students who have  made  unsuitable  career  and  course  choices  early  on  in  their  life  and  want  to  retrain 

- and  acquire higher level skills. 

- Students  who  left  school  at  16  and  found  themselves  in a string   of   unrewarding   and   low   paid   jobs, 

- before recognising the need, as more mature  adults,  to  obtain  higher  level  skills  and  a  degree  to  improve  their job  prospects  and quality of life. 

- Students in transition, emotionally and geographically. These include: 

- ex-alcoholics or drug addicts who have realised that education can support their rehabilitation process 

- victims of sexual abuse or domestic violence struggling to lift their personal lives out of misery through education 

- those fleeing from persecution and torture and seeking refuge or political asylum in the UK 

- students  with  a  history  of  severe  health  problems,  physical  disabilities,  or  emotional  difficulties,  sometimes 

- as  a  result  of a serious accident that has radically altered the way they live their lives and for whom education is a life saver 

- casualties of oppression, discrimination, and injustice, often on the grounds of race, religion and sexual orientation 

- - students experiencing mental ill health 

- students who are lone parents, on low incomes and with low skills levels, many of whom come from poor, 

- working class and black and minority ethnic communities. 

## This includes: 

- 

One to one support provided by the Foundation's support staff 

- Specialist  practical  and  emotional  support  (e.g.  dyslexia,  victim  support)  brokered  through  partnerships 

- with  other agencies 

- A casework service to help troubleshooting on issues 

- Where funding is available, we seek to  run  skills   training   workshops   to   help   students   develop   in 

- areas   identified by   employers  as  the   skills   needed   in   the   workplace,   including   leadership,   team   working, effective    communication, writing a CV and successful interview skills. 

To help students  develop  professional  networks  and  gain  an  insight  into  highly  competitive  professions  and industries  we  aim to: 

- Run a mentoring scheme to match students up with mentors working in jobs,  industries  and  professions  that 

- match  their interests 

- Broker work placement and shadowing opportunities 

- Run insight days and careers talks with companies across a range of industries and professions 

Where practicable we share our experience as practitioners around widening participation in education and fair access to  the professions by contributing to publications, appearing on public platforms, commenting in  the  media  and 

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## **Helena Kennedy** 

commissioning  and producing research. We seek  to  give  our  students  the  opportunity  to  share  their  own experiences,  which  helps  develop  their own skills and confidence as well as giving policy makers a first-hand insight into the experiences and achievements of these remarkable individuals. 

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## **Helena Kennedy Foundation Report of the Trustees Continued For the year** 

## **OBJECTIVES AND ACTIVITIES** 

## **Statement on public benefit** 

The trustees have  considered  the  Charity  Commissions  guidance  on  public  benefit,  including  the  guidance 'public  benefit: running a charity (PB2)'. 

Trustees review the  Foundations  aims,  objectives,  activities,  achievements,  and  performance  each  year. Performance  is monitored against our Strategic Plan and Annual Operating Plan. Trustees refer to the  guidance contained   in   the   Charity Commissions general guidance on public benefit and ensure that planned activities contribute to the aims and objectives set. 

Trustees  conclude  that,   since   the   Helena   Kennedy   Foundation   exists   primarily   to   overcome    social injustice    by providing  support  for  disadvantaged  students  to  access  higher  education,  the  charity  can demonstrate  beyond   doubt    that each of the principles outlined in the Charity Commissions guidance on Charities and Public Benefit are being met. 

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## **ACHIEVEMENTS AND PERFORMANCE** 

## **Significant activities** 

The financial year 20/21 was an extraordinary one. The Charity navigated the consequences  of  a  global  pandemic which   saw national lockdowns,   the   total   disruption   of   Further   and   Higher   Education   systems   and disproportionate  negative  outcomes  for the most vulnerable in society. The Board continued to meet regularly, albeit virtually,  and  the  Charity  continued  to  operate, switching to remote working and increasing engagement through social media channels. 

Our  Bursary  awards  continue  to  provide  financial  support  that  makes  a  real  difference  to  our  students'  ability to  meet  the rising costs associated  with  studying.  It  remains  the  primary  reason  for  students'  application  to  the Foundation.  The  Trustees are delighted to report that  the  number  of  new  students  receiving  a  bursary  award during  this  financial  year  was 81. Applications for 2021 were 190. This  is  lower  than  we  usually  expect  and  is attributable  to  the  pandemic.  Notwithstanding  this dip in applications,  we  were  significantly  over-subscribed  and many  more  would  benefit  from  the  financial  support  we  offer, as well as the wider package of mentoring, advice and guidance, training and work placements  should  we  be  able  to  secure additional funding. 

Progression rates for our students are typically in the 90-95% range. Of those that do not progress from one year to the next, many go on to return to their studies a year or two later and continue to receive advice and guidance from the charity. Around 96% of our students graduate  -  which  is  significantly  above  the  national average.  This  is  even  more  impressive  given  the serious  hurdles  our  students  have  overcome  to  succeed  in education.  We  are  immensely  proud  of  this  achievement  and  of our students. Ensuring that our students complete their studies not  only  helps  their  life  chances,  but  saves  the  student, higher education institutions and the taxpayer a great deal of money, due to  the  high  direct  costs  and  social  costs  of non-completion. 

## Mission Statement 

The charity's mission statement and strapline were reviewed, and trustees approved the following 

Mission Statement: HKF promotes equality of opportunity, enabling disadvantaged FE  students  to  realise  their potential,  by supporting them through higher education into fulfilling careers. 

Strapline: Nurturing talent, driving opportunities, 

## transforming lives. Work Placements 

With graduates facing increased  pressure  to  prove  their  potential  for  employment  opportunities  HKF  wishes  to ensure  that our  beneficiaries,  who  are  already  faced  with  their  own  significant  barriers  to  success,  have  the best  chance  of     reaching their goals both at university and beyond. In response to this, the Foundation has sought ways to empower Winners in  these increasingly competitive and demanding  times,  enabling  them  to  access  work experience  opportunities  to  complement  their studies through the HKF Work Experience scheme. Approximately 20 award winners secured   work   placements   with companies such Howes Percival,  and  all  award  winners  were offered  mentoring  and  coaching  support,  which  more  than  half took up. After graduating, award winners are offered pro bono coaching with professional graduate coach. 

We are delighted that our alumni project continues to make progress. This year two of our alumni won prestigious Festival of Learning awards.  Kirsty  Young  received  the  Return  to  Learning  award  and  Rosie Wainwright  received  the  Outstanding Individual learner award. Maleekah  Bokhari,  an  award  winner  from  2007 was honoured  as  young  global  leader  of  the  year  by the World Economic Forum. Alumni  James  Corbin  has established  himself  as  a  plus  size  model  and  has  been  featured  in Vogue magazine and worked with Valentino. 

## NCFE 

We are delighted too that our strategic partnership with NCFE continues. The   DISCOVER   programme   enables 15 FE colleges to take part in a  college  bursary  scheme,  whereby  15 Students  are  awarded  a  bursary  of  £1,500 to  support  their success and progression to higher education or employment. NCFE also sponsors 10 HE bursaries   each   year,   where winners receive £2,250. NCFE staff   also   mentor   HKF   bursary   winners.   The partnership  is  going  from  strength  to  strength, and we enjoy great support from The CEO and his team. 

## Skills Education Group 

The Skills and Education Group continue to sponsor and support the annual House of Lords reception. Through the partnership  they  provide   2 bursaries  per  year  for  FE  students  from  their  member  colleges  progressing  to 



Higher  Education. Any applicants we are unable to support are encouraged to apply to SEG's own funds and a secure bursary of £350 each. 



## 2020 Impact report 

To mark the  20th  Anniversary  of  the  Helena  Kennedy  Foundation  (HKF)  the  trustees  commissioned  an  impact report  to evaluate the impact of bursaries on our winners.  The  research  sought  to  understand  and  provide evidence  of  how  HKF contributed to transforming lives and communities in Britain by providing financial bursaries, mentoring, and supporting disadvantaged students from the further and adult education  sectors.  The  report  was launched  at  the  AOC  conference  in 2018 by Baroness Kennedy and is available as a resource online at the HKF website. 

## College badge bursary scheme 

College badge bursary schemeThese are bursaries for FE and  sixth  form  colleges  to  ring  fence  for  students  from their  own college. As with the standard scheme, they are open to students in their last year at college and applying to start a first-time higher education course the following year. Bursaries are named after the sponsoring  College  so  although  the  selection panel is run by HKF, the College can be sure at least one of their own students will be a beneficiary. Students who miss out on their college's badged bursary  can  still  be entered  for  the  standard  HKF  bursary  so  have  two  chances  of  achieving  an award. 

This is a time when the  gap  between  the  richest  and  poorest  has  grown  to  its  widest  for  several  generations (Dorling,  2015) and the impact of policy reform is biting the most vulnerable the  hardest  to  reach  communities.  The learners  who  apply  for bursaries are often blighted  by  ongoing  poverty  that  has  blighted  their  lives,  their families  and  community.  The  evidence  from the learners is that the  bursaries  are  a  real  lifeline  to  them continuing  their  studies,  progressing  to  Higher  Education,  and gaining careers that empower them, their family, and their communities. 

## Pastoral and Mentoring 

Support Annual Career 

## ready week 

HKF continued its annual career ready week where a number of sessions were  delivered  by  our  supporters  and alumni.  The sessions including  Improving  your  cv,  improve  your  LinkedIn  profile  amongst  others  is  now available  as  a  resource  on YouTube. 

The meet and greet week  as  part  of  the  welcome  to  HKF  was  well  received.  We  continue  to  offer  one  to  one support alongside a monthly drop-in chat session. This is an opportunity for winners to discuss any issues in a safe environment. 



## **FINANCIAL REVIEW** 

During the  year,  the  total  income  received  was  £317,746 (2019/20:  £200,486).  Total  expenditure  was £237,857 (2019/20: £238,671), resulting in a total net income before investment gains of £79,889 - (2019/20: (£37,535) net expenditure. 

The  gain  attributable  to  unrestricted  funds  was  £70,420 (2019/20:  (£5,767)  deficit)  after  investment  gains  and adjustments, which  consolidated  the  Charity's  unrestricted  reserves  position  from  £196,010 at  the  start  of  the year  to  £266,430 at  the  end. Of this, £75,000 is represented by general  fund  reserves,  representing  six  months' running  costs  to  cover  unforeseen  costs and commitments  in  line  with  the  reserves  policy. The  remaining £191,430 is  accounted  for  as  designated  funds  on  the balance sheet, being earmarked by the charity for future spending on charitable objects, in line with the reserves policy. 

The  financial  numbers  represent  a  robust  position.   The  Charity  has  achieved  a  secure  financial  footing through   a combination of fundraising activity and keeping  operating  costs  under  control  over  this  period  of tight   fiscal   restraint   which has, regrettably, resulted in many small charities like HKF ceasing to operate. In this regard, the positive achievements of  the Foundation over the last six  years  cannot  be  understated  and  praise  for this  is  due  in  no  small  measure  to  the  dedicated efforts of our Operations Manager and her small team. 

Our Treasurer, who brings  with  him  a  wealth  of  finance   experience,   has   also  resulted   in  significant improvements  to  our financial processes and financial planning. 

Restricted funds increased  by  £25,075 after  adjustments,  from  £348,625 to  £373,700.  Of  this  balance,  the  whole £373,700 related to the Badged Bursary Scheme. In line with the reserves policy, restricted funds are managed to ensure that they are spent in line with donor requirements and do not go into a negative position. 

The  Trustees  are  pleased  to  note  that  direct  charitable  expenditure  through  student  bursaries  in  2020/21 amounted  to £151,175 (2019/20: £147,625). 

## Investment Powers and Policy 

Under the Memorandum and Articles of Association, the charity  has  the  power  to  invest  in  any  way  the  Trustees wish.  The present policy is to invest surplus liquid deposits in income generating cash deposits and investments. 

Response to COVID19 

The  Charity  is  at  present,  in  a  sound  financial  position  and  has  sufficient  6 month  reserves  due  to  its reserves  policy.  There is some concern with universities being able to fund  bursaries  in  2022,  trustees  are  closely monitoring  the  situation.  This  may result in a reduction of bursaries being awarded in 2022 should our funders be adversely affected by COVID19. 

The Foundation operations were impacted by COVID19 with staff members having   caring   responsibilities   which were mitigated by working from home and  making  other  arrangements.  The  charity  had  initiated  migration  to cloud  based  storage which was expediated due to COVID19. 

## **Reserves** 

Restricted funds are managed to ensure that they are spent in line with  donor  requirements  and  do  not  go  into  a negative position. 

The Charity regularly reviews its reserves policy, as it   has   done   during   this   year,   and   sets   aside   at   least   six months running costs to cover unforeseen costs and commitments  in  the   event   of   a   sudden   reduction   in funding   or   cessation of activities.  These  are  accounted  for  as  general  fund  (unrestricted)  reserves  and  are also  index  linked  to  inflationary pressures. 

Any  additional  unrestricted  funds  which  remain  unspent are accounted for as   contingency   funds   on   the balance   sheet, being held  in  reserve  by  the   charity   to   cover   bursary   as   well   as   other   forms   of   student support,   in   line   with charitable objects and  the  reserve  policy.  In  addition,  this  year  CRM  systems  are  being fine-tuned  to  streamline  the  charity data  base  and  student  selection  processes.  Other  unrestricted  funds  are accounted  for  as  designated  fund  reserves  or invested over the short to medium term. 



## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The Helena Kennedy Foundation is a company limited by guarantee, governed by its Memorandum and   Articles of Association dated  13th  November  1998.  It  is  registered  as  an  independent  educational  charity  with  the Charity  Commission. The members (currently 13) undertake to contribute the sum of £1 in the event of the charity winding up. 

## Organisation and Management 

The Board of Trustees delegates the  day-to-day  leadership  and  management  of  the  charity  to  paid  full-time employees  who during the year comprised an Operations Manager and a Projects Manager. 

The charity is fortunate to be supported by a range of volunteers who help the charity through the generous donation of their time, skills and experience in a number of ways: 

- •giving careers talks on a range of sectors and industries 

- •allowing students to shadow them at work 

- •organising fundraising activities 

- •assisting within the foundation with activities including administration, student support and organising events 

Many  of  our  volunteers  are  previous  beneficiaries  of  the  charity  who  want  to  give  something  back.  Our beneficiaries  also come back to the Foundation to give talks at events as ambassadors. 

## Risk Management 

Trustees regularly review the major organisational, financial and reputational risks assessments laid out by the Foundation. 

## **Recruitment and appointment of trustees** 

## Appointment of Trustees 

New Trustees are appointed through   an   open   process   following   completion   of   a   Trustees   skills   audit undertaken  to  assess any gaps in  the  overall  profile  and  competencies  of  the  Board.  As  set  out  in  the  Articles of  Association,  Trustees  are appointed by agreement at the annual general meeting normally held in October or November each year. 

## Trustees Induction and Training 

New Trustees are offered an induction program. This includes: 

- An opportunity to visit the Foundation's offices to meet staff to familiarise themselves with the Foundation's work. 

- A copy of the Trustees information pack, containing relevant literature on charity trusteeship from  the  Charity 

- Commission, including details of the Trustee appraisal system. 

- •Relevant information from Companies House on the responsibilities of directorship. 

There are also ongoing development opportunities for  Trustees  to  attend  conferences  and  seminars  on  issues relevant  to their roles. These are provided on an ad hoc basis. 

## **REFERENCE AND ADMINISTRATIVE INFORMATION** 

**Name of Charity** Helena Kennedy Foundation **Charity registration number** 1074025 **Company registration** 03667290 **number Principal** South & City College Birmingham Handsworth **address** Campus The Council House, Soho Road Birmingha m England B21 9DP 



## **Trustees** 

The trustees and officers serving during the year and since the year end were as follows: 

||Dr Julie Mills OBE (Chair)|
|---|---|
||Mr John Sandiford Haigh|
||(Treasurer) Mrs Jacqueline Mace|
||(Vice Chair) (Resigned: 01 July|
||2020)|
||Mr Al Coates|
||Mr Ian|
||Kernohan Ms|
||Karen Mitchell|
||Prof Vicky|
||Duckworth Ms|
||Lesley Davies OBE|
||(Resigned: 31 January|
||2021) Ms Elizabeth Hess|
||Ms Mica Coleman Jones|
||Ms Iandra MacCallum|
||Tchoudnowsky Mr Mark Cooper|
|**Independent**<br>**examiner**|Victoria Anderson BA (Hons) FCA|
||DChA Clark Brownscombe Limited|
||2 St Andrews|
||Place Lewes, East|
||Sussex BN7 1UP|
|**Bankers**|The Co-operative Bank|
||plc PO Box 101|
||1 Balloon Street|
||Manchester, M60|
||4EP CAF Bank Ltd|
||25 Kings Hill Avenue|
||Kings Hill, West|
||Malling Kent|
||ME19 4JQ|
||Aldemore|
||Bank 50 St|
||Mary<br>Axe|
||London,|
||EC3A 8FR|
||Virgin|
||Money|
||Jubilee|
||House|
||Gosforth|
||Newcastle Upon|
||Tyne, NE3 4PL|



Approved by the Board of Trustees and signed on its behalf by 




............................................................................. Dr Julie Mills OBE (Chair) 



## **Helena Kennedy Foundation Independent Examiners Report to the Trustees** 

## **Responsibilities and basis of report** 

As the charity's trustees of Helena Kennedy 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  Helena  Kennedy  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. 

This Report is made solely to the Charity Trustees, as a body. My review work has been undertaken so that we might state to the Trustees those matters we have agreed to state and for no other purpose. To the fullest extent, permitted by law, I do not accept or assume responsibility to anyone  other  than  the  Charity  and  the Trustees  as  a  body,  for  the  examination,  for  this report, or for the conclusions I have formed. 

## **Independent examiners statement** 

Since the  Charitable  companys  gross  income  exceeded  £250,000,  your  examiner  must  be  a  member  of  a  body listed  in section  145 of  the  2011 Act.   I  confirm  that  I  am  qualified  to  undertake  the  examination  by  virtue  of my  membership  of ICAEW, which is one of the listed bodies. 

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 Helena Kennedy 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. 


Victoria Anderson BA (Hons) FCA DChA Clark Brownscombe Limited 2 St Andrews Place Lewes, East Sussex BN7 1UP 

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## **Helena Kennedy Foundation Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 May 2021** 

|**Income and endowments**<br>**from:**<br>**Notes**<br>Donations and legacies<br>2<br>Other trading activites<br>3<br>Investments<br>4<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>5<br>Charitable activities<br>6/7<br>**Total**<br>Net gains/(losses) on<br>investments<br>**Transfers between funds**<br>**Other recognised gains/losses**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**£**<br>103,861<br>1,197<br>6,838<br>**111,896**<br>-<br>(89,682)<br>**(89,682)**<br>15,606<br>32,600<br>**70,420**<br>196,010<br>**266,430**|**Restricted**<br>**funds**<br>**£**<br>205,850<br>-<br>-<br>**205,850**<br>-<br>(148,175)<br>**(148,175)**<br>-<br>(32,600)<br>**25,075**<br>348,625<br>**373,700**|**2021**<br>**£**<br>309,711<br>1,197<br>6,838<br>**317,746**<br>-<br>(237,857)<br>**(237,857)**<br>15,606<br>-<br>**95,495**<br>544,635<br>**640,130**|**2020**<br>**£**<br>189,357<br>2,079<br>9,050|
|---|---|---|---|---|
|||||**200,486**|
|||||(1,650)<br>(237,021)|
|||||**(238,671)**|
|||||(7,662)<br>-|
|||||**(45,847)**|
|||||590,482|
|||||**544,635**|



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Registered Number : 03667290 

## **Helena Kennedy Foundation Statement of Financial Position As at 31 May 2021** 

|**Helena Kennedy**<br>**Foundation Statement of**<br>**Financial Position As at**<br>**31 May 2021**|||
|---|---|---|
|**Notes**<br>**Fixed assets**<br>Tangible assets<br>13<br>Investments<br>14/15<br>**Current assets**<br>Debtors<br>16<br>Cash at bank and in hand<br>**Creditors: amounts falling due within one year**<br>17<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Net assets**<br>**The funds of the charity**<br>Restricted income funds<br>18<br>Unrestricted income funds<br>18<br>**Total funds**|**2021**<br>**£**<br>3,433<br>267,384<br>**270,817**<br>22,576<br>354,041<br>**376,617**<br>(7,304)<br>**369,313**<br>**640,130**<br>~~**640,130**~~<br>373,700<br>266,430<br>**640,130**|**2020**<br>**£**<br>7,166<br>244,148|
|||**251,314**|
|||30,316<br>329,225|
|||**359,541**|
|||(66,220)<br>**293,321**|
|||**544,635**|
|||**544,635**|
|||348,625<br>196,010|
|||**544,635**|



For the year ended 31 May 2021 the company was  entitled  to  exemption  from  audit  under  section  477 of  the Companies  Act 2006 relating to small companies. 

- The members have  not  required  the  company  to  obtain  an  audit  of  its  accounts  for  the  year  in  question 

- in  accordance with section 476, 

- The trustees 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. 

The financial statements were approved and authorised for issue by the Board and signed on its behalf by: 

John Sandiford Haigh Trustee 

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## **Helena Kennedy Notes to the Financial Statements For the year ended 31 May 2021** 

## **1. Accounting Policies** 

## **Basis of accounting** 

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. 

Helena Kennedy 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 note(s). 

## **Going concern** 

The financial statements are prepared, on a going concern basis, under the historical cost convention. 

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. 

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 

## **Funds** 

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. 

Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. 

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. 

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above 

## **Incoming resources** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. 

## Interest receivable 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

13 of 



## **Helena Kennedy Foundation Notes to the Financial Statements Continued For the year ended 31 May** 

## **Resources expended** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

Expenditure is classified under the following activity headings: 

- Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose 

- Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs 

- Other expenditure represents those items not falling into any other heading 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **Allocation and appointment of costs** 

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, a proportion of the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned to the bursary programme based on the value of uncomitted bursary amounts. 

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities. 

## **Taxation** 

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities. 

## **Tangible fixed assets** 

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 

Office Equipment - 4 years 

## **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. 

## **Current asset investments** 

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments. 

## Realised gains and losses 

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 

14 of 



## **Creditors and provisions** 

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. 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **2. Income from donations and legacies** 

|**ncome from donations and legacies**|||||
|---|---|---|---|---|
|Donations received<br>Sponsorships received|**Unrestricted**<br>**funds**<br>**£**<br>103,861<br>-<br>**103,861**|**Restricted**<br>**funds**<br>**£**<br>205,850<br>-<br>**205,850**|**2021**<br>**£**<br>309,711<br>-<br>**309,711**|**2020**<br>**£**<br>186,057<br>3,300|
|||||**189,357**|



## **3. Income earned from other activities** 

|**Unrestricted funds**<br>Fund raising and Publicity|**2021**<br>**£**<br>1,197<br>**1,197**|**2020**<br>**£**<br>2,079|
|---|---|---|
|||**2,079**|



## **4. Investment income** 

|**Unrestricted funds**<br>Income from listed investments<br>Income from<br>cash/settlementsheld in an<br>investment portfolio|**2021**<br>**£**<br>6,103<br>735<br>**6,838**|**2020**<br>**£**<br>7,564<br>1,486|
|---|---|---|
|||**9,050**|



## **5. Expenditure on other trading activities** 

|Fund raising and Publicity|**2021**<br>**£**<br>-<br>**-**|**2020**<br>**£**<br>1,650|
|---|---|---|
|||**1,650**|





## **6. Costs of charitable activities by fund type** 

|Bursary Programme<br>Support costs<br>**7. Costs of charitable activities by activity type**<br>**Support costs**<br>Bursary Programme<br>**8.Analysis of support costs**<br>**Bursary Programme**<br>Other Ofce Expenses<br>Investment<br>Management Costs<br>Website and IT<br>Staf Costs<br>Accountancy<br>Governance costs|**Unrestricted**<br>**funds**<br>**£**<br>3,000<br>86,682<br>**89,682**<br>**Activiti**<br>**es**<br>**undertak**<br>**en**<br>**directly**<br>**£**<br>151,175|**Restricted**<br>**funds**<br>**£**<br>148,175<br>-<br>**148,175**<br>**Support**<br>**costs**<br>**£**<br>86,682|**2021**<br>**£**<br>151,175<br>86,682<br>**237,857**<br>**2021**<br>**£**<br>237,857<br>**202**<br>**1**<br>**£**<br>5,194<br>2,323<br>8,724<br>56,761<br>12,000<br>1,680<br>**86,682**|**2020**<br>**£**<br>147,625<br>89,396|
|---|---|---|---|---|
|||||**237,021**|
|||||**2020**<br>**£**<br>237,021<br>**202**<br>**0**<br>**£**<br>12,334<br>2,348<br>12,417<br>48,420<br>12,000<br>1,877|
|||||**89,396**|



## **9.Net income/(expenditure) for the year** 

This is stated after charging/(crediting): 

||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Depreciation of owned fxed assets|3,733|3,785|
|Accountancy fees|1,680|1,680|
|Staf pension contributions|1,620|1,324|





## **10. Staff costs** 

Total staff costs for the year ended 31 May 2021 were: 

|Total staf costs for the year ended 31 May 2021 were:|||
|---|---|---|
|Salaries and wages<br>Social security costs<br>Pension costs|**2021**<br>**£**<br>54,113<br>1,028<br>1,620<br>**56,761**|**2020**<br>**£**<br>45,801<br>1,295<br>1,324|
|||**48,420**|



No employee earned more than £60,000 during the year (nil:2020). Both members of staff are key management and their remuneration is outlined above. 

|Employees|**2021**<br>2<br>**2**|**2020**<br>2|
|---|---|---|
|||**2**|



## **11. Trustee remuneration and related party transactions** 

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020:£nil). 

No charity trustee received payment for professional or other services supplied to the charity (2020:£nil). The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2020:£nil). 

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling 

£nil (2020:£196). There are no related party transactions to disclose for 2021 (2020:none). 

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. 



## **12. Comparative for the Statement of Financial Activities** 

|**Income and endowments from:**<br>Donations and legacies<br>Other trading activites<br>Investments<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total**<br>Net gains/(losses) on investments<br>**Transfers between funds**<br>**Other recognised gains/losses**<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**£**<br>68,607<br>2,079<br>9,050<br>**79,736**<br>(1,650)<br>(92,396)<br>**(94,046)**<br>(7,662)<br>16,205<br>**(5,767)**<br>201,777<br>**196,010**|**Restricted**<br>**funds**<br>**£**<br>120,750<br>-<br>-<br>**120,750**<br>-<br>(144,625)<br>**(144,625)**<br>-<br>(16,205)<br>**(40,080)**<br>388,705<br>**348,625**|**2020**<br>**£**<br>189,357<br>2,079<br>9,050|
|---|---|---|---|
||||**200,486**|
||||(1,650)<br>(237,021)|
||||**(238,671)**|
||||(7,662)<br>-|
||||**(45,847)**|
||||590,482|
||||**544,635**|



## **13. Tangible fixed assets** 

|**Cost or**<br>**valuation**<br>At 01 June 2020<br>At 31 May 2021<br>**Depreciation**<br>At 01 June 2020<br>Charge for year<br>At 31 May<br>2021<br>**Net book**<br>**values**<br>At 31 May<br>2021<br>At 31 May<br>2020|**Ofc**<br>**e**<br>**equipme**<br>**nt**<br>**£**<br>25,643<br>**25,643**<br>18,477<br>3,733<br>**22,210**<br>**3,433**<br>**7,166**|
|---|---|





## **Investments** 

|**14.**<br>**Analysis of movement of commercial**<br>**investments**<br>Market value at<br>01 June 2020<br>Additions to<br>investment at<br>cost<br>Disposals at<br>carrying value<br>Net gain/(loss)<br>on revaluation<br>Market value at<br>31 May 2021|**Liste**<br>**d**<br>**investmen**<br>**ts**<br>**£**<br>244,148<br>14,543<br>(6,913)<br>15,606|
|---|---|
||**267,384**|
|||
|||



## **15. Analysis of investments between funds as at year ended 31 May 2021** 

|**Unrestricted funds**<br>Listed investments<br>**. Debtors**<br>**Amounts due within one year:**<br>Trade debtors<br>Prepayments and accrued income<br>Other debtors|**2021**<br>**£**<br>267,384<br>**267,384**<br>**2021**<br>**£**<br>18,000<br>4,293<br>283<br>**22,576**|**2020**<br>**£**<br>244,148|
|---|---|---|
|||**244,148**|
|||**2020**<br>**£**<br>25,900<br>4,416<br>-|
|||**30,316**|



## **16. Debtors** 

## **17. Creditors: amounts falling due within one year** 

|Other creditors<br>Accruals and deferred income|**2021**<br>**£**<br>-<br>7,304<br>**7,304**|**2020**<br>**£**<br>2,166<br>64,054|
|---|---|---|
|||**66,220**|





## **18. Movement in funds** 

## **Unrestricted Funds** 

|**Incomin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>111,896<br>-<br>**111,896**<br>**Incomin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>79,736<br>-<br>**79,736**|**Outgoin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>(89,682)<br>-<br>**(89,682)**<br>**Outgoin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>(94,046)<br>-<br>**(94,046)**|**Transfers**<br>**£**<br>32,600<br>-<br>**32,600**<br>**Transfers**<br>**£**<br>16,205<br>-<br>**16,205**|**Gains and**<br>**losses**<br>**£**<br>15,606<br>-<br>**15,606**<br>**Gains and**<br>**losses**<br>**£**<br>(7,662)<br>-<br>**(7,662)**|**Balance**<br>**at**<br>**31/05/20**<br>**21**<br>**£**<br>191,430<br>75,000|
|---|---|---|---|---|
|||||**266,430**|
|||||**Balance**<br>**at**<br>**31/05/20**<br>**20**<br>**£**<br>121,010<br>75,000|
|||||**196,010**|



## **Purpose of unrestricted Funds** 

## Designated funds 

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 

## General 

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. 

## **Restricted Funds** 

|Badged Bursaries|**Balance**<br>**at**<br>**01/06/20**<br>**20**<br>**£**<br>348,625<br>**348,625**|**Incomin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>205,850<br>**205,850**|**Outgoin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>(148,175)<br>**(148,175)**|**Transfers**<br>**£**<br>(32,600)<br>**(32,600)**|**Balance**<br>**at**<br>**31/05/20**<br>**21**<br>**£**<br>373,700|
|---|---|---|---|---|---|
||||||**373,700**|





## **Restricted Funds - Previous year** 

|Article 26<br>Badged Bursaries|**Balance**<br>**at**<br>**01/06/20**<br>**19**<br>**£**<br>11,955<br>376,750<br>**388,705**|**Incomin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>-<br>120,750<br>**120,750**|**Outgoin**<br>**g**<br>**resourc**<br>**es**<br>**£**<br>-<br>(144,625)<br>**(144,625)**|**Transfers**<br>**£**<br>(11,955)<br>(4,250)<br>**(16,205)**|**Balance**<br>**at**<br>**31/05/20**<br>**20**<br>**£**<br>-<br>348,625|
|---|---|---|---|---|---|
||||||**348,625**|



## **Purpose of restricted funds** 

Badged Bursaries 

The Badged Bursary Fund relates to projects involving payment of bursaries to students. 

Article 26 

The Article 26 project is aimed at supporting students seeking sanctuary in the United Kingdom to access higher education. 

## **19. Analysis of net assets between funds** 

|**Analysis of net assets between funds**||
|---|---|
|**Unrestricted funds**<br>_General_<br>Designated funds<br>General<br>**Restricted funds**<br>Badged Bursaries|**Tangible**<br>**Investment**<br>**s**<br>**Net**<br>**current**<br>**Net Assets**<br>**fxed assets**<br>**assets /**<br>**£**<br>**£**<br>**(liabilities)**<br>**£**<br>**£**<br>3,433<br>197,384<br>(9,387)<br>191,430<br>-<br>70,000<br>5,000<br>75,000<br>-<br>-<br>373,700<br>373,700|
||**3,433**<br>**267,384**<br>**369,313**<br>**640,130**|





## **Previous year** 

|**Previous year**||
|---|---|
|**Unrestricted funds**<br>_General_<br>Designated funds<br>General<br>**Restricted funds**<br>Badged Bursaries|**Tangibl**<br>**efxed**<br>**assets**<br>**Investment**<br>**s**<br>**Net**<br>**current**<br>**assets**<br>**/**<br>**(liabilitie**<br>**s)**<br>**Net Assets**<br>**£**<br>**£**<br>**£**<br>**£**<br>7,166<br>174,148<br>(64,554)<br>116,760<br>-<br>70,000<br>5,000<br>75,000<br>-<br>-<br>352,875<br>352,875|
||**7,166**<br>**244,148**<br>**293,321**<br>**544,635**|



## **20. Company limited by guarantee** 

Helena Kennedy Foundation is a company limited by guarantee and accordingly does not have a share capital.