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← Canopi Foundation

2021-03-31-accounts

DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

Registered number: 03635124 Charity number: 1075749

THE HELEN TAYLOR THOMSON FOUNDATION LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 10
Independent Auditors' Report 11 - 13
Consolidated Statement of Financial Activities 14
Consolidated Balance Sheet 15
Company Balance Sheet 16
Consolidated Statement of Cash Flow 17
Notes to the Financial Statements 18 - 30

DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021

Trustees M N Donohoe J S Edwards (Chair) M J Sampson R H Thompson Chief executive C R Dove-Dixon (appointed 01 June 2020) Company registered number 03635124 Charity registered number 1075749 Registered office Can Mezzanine 7-14 Great Dover Street Southwark London SE1 4YR Auditors Haines Watts Suite G02 Aston Court Kingsmead Business Park Frederick Place High Wycombe Buckinghamshire HP11 1JU Bankers Barclays Bank Plc Level 27 1 Churhchill Place London E14 5HP

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the audited financial statements for the year to 31 March 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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).

Since the company and the Group qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The Helen Taylor Thompson Foundation Limited (operating as 'CAN' and 'Education Saves Lives') is a Charitable Company limited by guarantee and is a registered Charity. It is governed by its Memorandum and Articles of Association, adopted on and last amended on 15 September 1998.

'The Charity's objects are to improve the efficiency of the administration of charities in direct pursuit of their objects by the provision of training and information, particularly in the field of information technology, and for such other charitable purposes as the Trustees shall from time to time determine.'

The Helen Taylor Thompson Foundation has sole membership of the charities Mezzanine 2 Ltd, CAN Mezzanine Ltd (collectively operating as 'CAN Mezzanine' or ‘CAN’), and Education Saves Lives.

METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the company and the Group is the responsibility of the Trustees who are elected and coopted under the terms of the Articles of Association.

The Articles of Association stipulate that there must be a minimum of three Trustees and not more than seven Trustees. All Trustees must be members of the Charitable Company, additional Trustees may be appointed by the existing Trustees at any time, either to fill a casual vacancy or as an addition to the existing Trustees. Any Trustee so appointed will hold office only until the next Annual General Meeting and will then be eligible for reelection. One third of the Trustees are to retire by rotation at each Annual General Meeting.

The following Trustees had a beneficial interest in contracts with the Charitable Company during the year:

The Trustees, who are also Directors for the purpose of company law, at the beginning of April 2020 were:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

The following Trustees were appointed or resigned between 1 April 2020 and the date of this report:

The Trustees, who are also Directors for the purpose of company law, at the time of writing this report are:

Clive Dove-Dixon covered the role of Chief Executive on an unpaid basis from 3rd October 2019 until he took a paid consultancy role, covering the role of Chief Executive, from 25th March 2020 to 1st June 2020. At this point he resigned as a Trustee and took up the full-time role as Chief Executive.

The covering roles undertaken by Clive Dove-Dixon were notified to the Charity Commission and carried out with their permission.

Russell Thompson covered the role of Chief Executive on a paid basis from 11th August 2020 when Clive DoveDixon was absent for a back operation. He then took up the role of part time Finance Director on a paid basis. This role continues and will be reviewed in the new year.

INDUCTION AND TRAINING OF NEW TRUSTEES

The Charitable Company strives to ensure equal opportunities and diversity in both the employment of staff and Trustee appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities.

Trustees are given a comprehensive induction when they join the Charitable Company. Recruitment involves interviews with the Chair and existing Trustees.

Additionally, individual Trustees may undertake external training in a particular area of their role on the governing body.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Board of Trustees controls and manages the affairs of the Charity. Trustees are given a comprehensive induction when they join. Recruitment involves interviews with the Chair and existing Trustees. Leadership and operational management of CAN are devolved to the Senior Management Team.

Senior Management Team through this period and at the time of writing this report:

The Board of Trustees hold the Senior Management Team to account on key performance indicators as agreed between both parties as well as monitoring the strategic direction.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Death of our founder, Helen Taylor Thompson

We are really saddened that we lost our founder Helen Taylor Thompson who died on Sunday September 6th 2020, shortly after her 96th birthday.

Helen founded the Community Action Network (CAN) in 1998 with Adele Blakebrough and the Baptist Minister Andrew Mawson. CAN was originally set up as a peer network for social entrepreneurs, moving into its own space in 2000 and the housing of charities and social enterprises in CAN operated, and later owned, office space became the largest part of the organisation and, the major part of its activities.

Helen founded "Education Saves Lives" two years later. At the time she was in her 70s, when many people would have been thinking of slowing down. Helen, however, was a formidable and determined lady and she was determined to do something to combat the ravages of HIV/AIDS in the developing world.

She understood that a simple lack of information was leading to many HIV and AIDS infections in vulnerable communities. She saw that the emerging technology of DVDs could be used to solve this problem, by giving people access to simple lessons for safer living in their own language. As a result of her vision, and the work of Education Saves Lives, millions of lives all over the world have been changed and/or saved.

Helen's legacy, her inspirational leadership and work, will live on through the Foundation named after her, through CAN Mezzanine and Education Saves Lives and their activities.

At the age of 96, Helen lived a very full life, and she was at peace about the next stage of her journey. We are so grateful to Helen, and for her, for all she was and did. Helen lived an amazing life, and we will miss her very, very much.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the Charitable Company and the Group are exposed, in particular those related to the operations and finances of the Charitable Company and the Group and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

The significant risks of the COVID pandemic posed an ever moving challenge, but were handled by the Management Team in line with Government guidelines.

OBJECTIVES AND ACTIVITIES

CAN Mezzanine

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance when reviewing our aims and objectives and in planning our future activities:

In addition to CAN’s broad work supporting its network and the wider Social Sector CAN has two main streams of operations:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Education Saves Lives

Education Saves Lives provides a third area of operation, its objects are:

Education Saves Lives seeks to meet their objectives through these primary activities:

They produce interactive audio-visual lessons and publish them on DVD and offer them for online streaming from their website. They currently offer 33 different lesson titles addressing different health and life threats, all of which contribute to the sustainable development goals (SDGs). Each lesson is recorded in local languages so that all communities can access the information, whatever their level of education. These are then made available, free, on DVD for use by anyone, from grassroots organisations to government ministries. In addition, over 90% of available lessons are available for streaming from their website.

ACHIEVEMENTS AND PERFORMANCE

REVIEW OF ACTIVITIES DURING THE FINANCIAL YEAR AND UP TO THE DATE OF THIS REPORT

CAN MEZZANINE

Towards the end of the previous financial year, the Trustees agreed that the Foundation's first priority was to become financially sustainable by reducing its debt levels and developing its empty Southwark property (Waterbridge House, Loman St) to provide increased and high-quality accommodation for the Third Sector – a hub for the Social Sector within walking distance of Waterloo, the City and Westminster. To deliver these priorities the Trustees agreed to:

The COVID-19 pandemic then hit the world at the start of the financial year and the Foundation, like so many other businesses, faced hugely challenging market disruption. Not only did we have to ensure our financial sustainability, we worked hard to support our customers who were all facing similar financial and operational challenges. As a response to these challenges, the Chief Executive and team took swift action to stabilize the finances and to support customers. Once the finances were secured, they then used the period of reduced activity brought about by the pandemic to undertake a major reinvention programme:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Finances

Continued a programme of cost-cutting:

Supported cashflow: putting in place initiatives to support our cashflow including:

Sold a building:

Began the development of Waterbridge House:

Operations

Reviewed service offering:

Supported our customers:

Introduced flexible staff working:

Property

Reviewed its property portfolio:

Sold the East Road building:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Business model

Outsourced marketing:

Updated systems:

Developed new service offerings:

Governance

Boosted its Board skills:

Appointed new Auditors:

Reviewed and updated HR policies and procedures:

Reviewed risks:

EDUCATION SAVES LIVES

Summary of main achievements

The Coronavirus pandemic had a large impact on our work. For a large part of 2020, many partners found their activities curtailed by local lockdowns and curfews, with the result that the numbers of DVDs being requested was very low. During this period, we focused on the production of the new online lesson, to share the WHO advice on COVID-19 in the same accessible format as our other lessons. With the help of many volunteers, we were able to make the lesson available in around 30 different languages online. The largest single user of these lessons was a multi-national employer with factories across Asia, Europe and northern Africa, large numbers of their employees used the lessons and shared them with their families.

Later in the year demand for DVDs began to rise again, and by the end of the reporting period, 7,599 DVDs had been distributed which is above average compared to previous years. We know that on average our DVDs are viewed by 200 people in their lifetime, so we can project that over one and a half million people were reached in the reporting period.

The groups that use our lessons are addressing a wide spectrum of needs across a huge geographical area. The usual model is for the lessons to be used in the context of an existing project, which will be addressing one or more of the Sustainable Development Goals (SDGs), but sometimes partners are designing projects specifically to incorporate our lessons because they see the value and impact that these lessons add to the local community.

Sustainable Development Goals addressed by Education Saves Lives’ lessons include:

No Poverty Clean Water & Sanitation Climate Action Zero hunger Affordable & Clean Energy Life on Land Good health & well-being Reduced inequalities Partnerships for the goals Gender Equality ~~7~~ Page 7

DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

During the early part of 2021, towards the end of the reporting period, we were in conversation with a number of Groups that led us to believe numbers of DVDs requested should rise even further. Our users tell us that they expect the main effect of the pandemic to be the worsening of existing health problems for the most vulnerable, similar to what was observed in West Africa during the Ebola crisis. This seems to be borne out by external reports. This means that our lessons will have a key role play to play in ongoing COVID recovery, probably for years to come. We are also working with our users to ensure that the viewings themselves are not a COVID-risk, by ensuring they observe local guidelines on social distancing and face covering.

Fundraising activities

In December 2020 we participated in the Big Give Christmas Challenge, raising over £7,000 for our work. The focal point of the fundraising was our first ever online concert, which included contributions from many gifted artists and our Patron Nina Wadia. We’d like to put on record our thanks to all our donors, and all those who gave their time and skills to make this unique event possible.

FINANCIAL REVIEW

A consolidated set of accounts has been prepared which incorporates the accounts of the wholly-owned subsidiary charities Mezzanine 2 Ltd, CAN Mezzanine Ltd and Education Saves Lives, all companies limited by guarantee.

Review of Activities of Subsidiaries

Mezzanine 2 Limited and CAN Mezzanine Limited, collectively trading as CAN Mezzanine, are both self-sustaining charities, building on CAN’s experience of creating a successful collaborative working environment. CAN Mezzanine is recognised as a landmark enterprise for the Social Sector.

Mezzanine 2 Ltd recorded net expenditure of £845,289, a decrease from prior year (2020: £1,144,477), and unrestricted deficit at the year-end of £1,992,925 (2020: £1,147,636).

CAN Mezzanine Ltd recorded net expenditure of £290,856 (2020: net income of £592,585) and an unrestricted surplus at the year-end of £34,411 (2020: unrestricted surplus of £325,267).

Education Saves Lives recorded net expenditure of £30,500 (2020: 23,178) and an unrestricted deficit at the yearend of £47,265 (2020: unrestricted deficit of £16,765).

GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

RESERVES POLICY

The Trustees approved a Reserves Policy in 2012 and agreed to aim to maintain consolidated free reserves of £500,000 in cash or assets that are easily converted into cash. At 31 March 2021, the Group’s free reserves, excluding the current portion of bank loans were £59,424 (2020 - £137,739). Current bank loans have been excluded from both years as these repayments are met from income received during the forthcoming year.

PLANS FOR FUTURE DEVELOPMENTS

CAN Mezzanine's objectives for the coming year are as follows:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Education Saves Lives’ objectives for the coming year are:

PUBLIC BENEFIT

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the Charitable Company for the public benefit are detailed in the 'Objectives and Activities' section of this report and the main activities undertaken in order to carry out the Charitable Company's aims for the public benefit are outlined under 'Achievements and Performance' above.

EMPLOYEE INVOLVEMENT AND EMPLOYMENT OF THE DISABLED

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The Charitable Company and the Group carry out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees.

The Charitable Company and the Group have implemented a number of detailed policies in relation to all aspects of personnel matters including:

In accordance with the Charitable Company and the Group's Equal Opportunities Policy, the Charitable Company and the Group has long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the Charitable Company and the Group's offices.

THANK YOU

Many thanks to our customers, partners and staff who have supported us through the most challenging period of the Foundation's history - coping with Covid-19 Pandemic and its impact on our organisation and our lives.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of The Helen Taylor Thompson Foundation Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2021

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and the Group and of the incoming resources and application of resources, including the income and expenditure, of the charitable Group for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The Designated Trustees will propose a motion appointing the auditors, Haines Watts, at a meeting of the Trustees.

20th December 2021

This report was approved by the Trustees, on ……………… and signed on their behalf by

[pany ................................................ 72F275D175914CF...by: J S Edwards, Trustee

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

OPINION

We have audited the financial statements of The Helen Taylor Thompson Foundation Limited (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 March 2021 which comprise the group Consolidated Statement of Financial Activities, the group Consolidated Balance Sheet, the company Balance Sheet, the group Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland. In our opinion the financial statements:

BASIS FOR OPINION

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 concern are described in the relevant sections of this report.

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company’s trade, customers, suppliers and wider economy. The Trustees’ view on the impact of COVID-19 is disclosed on the accounting policies note 1.3.

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 material misstatements, we are required to determine whether this gives rise 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.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees, who are also the directors of the charitable company for the purposes of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

EXPLANATION AS TO THE EXTENT TO WHICH THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD

During the audit we identify and assess the risk of material misstatements of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions. There is always the unavoidable risk that material misstatements in the financial statements may not be detected despite the audit being properly performed in accordance with UK Auditing standards.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

USE OF OUR REPORT

This report is made solely to the charity’s Trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Gary A Heywood (Senior Statutory Auditor) For and on behalf of Haines Watts ………………………. Chartered Accountants Suite G02 Statutory Auditor Aston Court Kingsmead Business Park Frederick Place High Wycombe Buckinghamshire United Kingdom HP11 1JU

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Total Total
funds funds funds
2021 2021 2020
Note £ £ £
INCOME FROM:
Donations and legacies 2 39,269 39,269 38,918
Charitable activities 3 3,225,274 3,225,274 4,613,934
Investments 4 2,652 2,652 6,525
Other income 199,910 199,910 153,220
TOTAL INCOME 3,467,105 3,467,105 4,812,597
EXPENDITURE ON:
Charitable activities:
Direct costs 5 3,192,807 3,192,807 4,365,764
Governance costs 6 201,584 201,584 101,942
TOTAL EXPENDITURE 3,394,391 3,394,391 4,467,706
NET MOVEMENT IN FUNDS 72,714 72,714 344,891
RECONCILIATION OF FUNDS:
Total funds brought forward 27,823,095 27,823,095 27,478,204
TOTAL FUNDS CARRIED FORWARD 27,895,809 27,895,809 27,823,095

The notes on pages 18 to 30 form part of these financial statements.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee) REGISTERED NUMBER: 03635124

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021

2021 2020
Note £ £ £ £
FIXED ASSETS
Tangible assets 9 39,512,690 39,524,208
CURRENT ASSETS
Debtors 10 442,035 1,012,436
Cash at bank and in hand 2,155,828 1,852,671
2,597,863 2,865,107
CREDITORS:amounts falling due within
one year 11 (2,847,036) (3,573,303)
NET CURRENT LIABILITIES (249,173) (708,196)
TOTAL ASSETS LESS CURRENT LIABILITIES 39,263,517 38,816,012
CREDITORS:amounts falling due after
more than one year 12 (11,367,708) (10,992,917)
NET ASSETS 27,895,809 27,823,095
CHARITY FUNDS
Unrestricted funds 13 27,895,809 27,823,095
TOTAL FUNDS 27,895,809 27,823,095
20/12/2021
The financial statements were approved and authorised for issue by the Trustees on ………………… The financial statements were approved and authorised for issue by the Trustees on ………………… The financial statements were approved and authorised for issue by the Trustees on ………………… The financial statements were approved and authorised for issue by the Trustees on ………………… and
signed on their behalf, by:

DocuSigned by: [ruse ................................................ BC9532EA7F8B4D4... Thompson. R H Thompson, Trustee

The notes on pages 18 to 30 form part of these financial statements.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee) REGISTERED NUMBER: 03635124

COMPANY BALANCE SHEET AS AT 31 MARCH 2021

2021 2020
Note £ £ £ £
FIXED ASSETS
Tangible assets 9 39,150,375 39,015,772
CURRENT ASSETS
Debtors 10 2,348,885 1,788,864
Cash at bank and in hand 334,009 242,323
2,682,894 2,031,187
CREDITORS:amounts falling due within
one year 11 (550,456) (1,396,839)
NET CURRENT ASSETS 2,132,438 634,348
TOTAL ASSETS LESS CURRENT LIABILITIES 41,282,813 39,650,120
CREDITORS: amounts falling due after
more than one year 12 (11,367,708) (10,992,917)
NET ASSETS 29,915,105 28,657,203
CHARITY FUNDS
Unrestricted funds 13 29,915,105 28,657,203
TOTAL FUNDS 29,915,105 28,657,203

No separate SOFA has been presented for the charity alone as permitted by section 408 of the Companies Act 2006.

20th December 2021

The financial statements were approved and authorised for issue by the Trustees on …………………… and signed on their behalf by:

DocuSigned by: [ruse ................................................ BC9532EA7F8B4D4... Thompson. R H Thompson, Trustee

The notes on pages 18 to 30 form part of these financial statements.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Note £ £
Cash flows from operating activities
Net cash provided by operating activities 15 1,156,690 203,587
Cash flows from investing activities:
Dividends, interest and rents from investments 2,652 6,523
Purchase of tangible fixed assets (141,662) (21,939)
Net cash used in investing activities (139,010) (15,416)
Cash flows from financing activities:
Repayments of borrowings (162,547) (559,365)
Interest payments (551,976) (409,061)
Net cash used in financing activities (714,523) (968,426)
Change in cash and cash equivalents in the year 303,157 (780,255)
Cash and cash equivalents brought forward 1,852,671 2,632,926
Cash and cash equivalents carried forward 16 2,155,828 1,852,671

The notes on pages 18 to 30 form part of these financial statements.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Helen Taylor Thompson Foundation Limited 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.

The Statement of Financial Activities (SOFA) and Balance Sheet consolidate the financial statements of the company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

1.2 COMPANY STATUS

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 GOING CONCERN

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Trustees have tested their cash flow analysis to take into account the impact on the entity of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

1.4 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.5 INCOME

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

1.6 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.7 CHARITABLE ACTIVITIES

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

1.8 GOVERNANCE COSTS

Governance costs comprise those costs associated with meeting the constitutional and strategic requirements of the charity and the audit fees and costs linked to the strategic management of the charity.

1.9 BASIS OF CONSOLIDATION

The financial statements of the parent and the subsidiaries have been consolidated on a line by line basis. The financial statements consolidate the accounts of The Helen Taylor Thompson Foundation Limited and all of its subsidiary undertakings ('subsidiaries').

The company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and Expenditure Account.

1.10 TANGIBLE FIXED ASSETS AND DEPRECIATION

Excluding computers, all assets costing more than £500 are capitalised.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements to property - Over the term of the lease - Plant and machinery 10% Straight line Fixtures and fittings - 20% on cost - Computer equipment 10% and 25% straight line

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

1.11 FREEHOLD AND LEASEHOLD PROPERTIES

As permitted under FRS102, a final "deathbed" valuation was made, and the value assigned to these properties were deemed to be their cost. The charity has opted to a policy of not revaluing its tangible fixed assets. Additions in subsequent years are stated at cost.

Freehold buildings are not depreciated. Their value and condition are reviewed annually by the trustees, who are satisfied that their residual value is not materially less than its book value.

1.12 INTEREST RECEIVABLE

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

1.13 OPERATING LEASES

Rentals under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

1.14 DEBTORS

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

1.15 CASH AT BANK AND IN HAND

Cash at bank and 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.

1.16 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.17 FINANCIAL INSTRUMENTS

The company 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.

1.18 TAXATION

The Helen Taylor Thompson Foundation Limited and its subsidiaries are all registered charities and have no liability to corporation tax on their charitable activities.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES (continued)

1.19 PENSIONS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

1.20 SIGNIFICANT JUDGEMENTS AND ESTIMATES

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The items in the financial statements where these judgements and estimates have been made include

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted Total Total
funds funds funds
2021 2021
2020		 2020
£ £ £
Donations 39,269 39,269 38,918

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Serviced office space 3,225,274 3,225,274 4,613,934

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. INVESTMENT INCOME

4. INVESTMENT INCOME
Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Investment income 2,652 2,652 6,525
5. CHARITABLE ACTIVITIES 5. CHARITABLE ACTIVITIES
Total Total
Activities 2021 2020
£ £ £
Rent and rates 1,186,644 1,186,644 1,076,894
Premises expenses 330,279 330,279 1,433,318
Communication expenses 149,456 149,456 170,841
Marketing and promotion 45,723 45,723 161,299
Other staff costs 32,603 32,603 35,067
Other costs 17,801 17,801 35,915
Printing, postage and stationery 56,542 56,542 98,848
Travel and subsistence 24 24 13,656
Finance costs 551,976 551,976 409,061
Wages and salaries 560,937 560,937 527,351
National insurance 63,592 63,592 80,795
Pension cost 44,050 44,050 99,842
Depreciation 153,180 153,180 222,877
3,192,807 3,192,807 4,365,764
6. GOVERNANCE COSTS 6. GOVERNANCE COSTS
Unrestricted Total Total
funds funds funds
2021 2021 2020
£ £ £
Auditors' remuneration 15,000 15,000 14,187
Governance - Trustees expenses reimbursed 1,787 1,787 15,494
Professional fees 184,797 184,797 72,261
201,584 201,584 101,942

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. NET INCOME/(EXPENDITURE)

This is stated after charging:

2021 2020
£ £
Depreciation of tangible fixed assets:
- owned by the charitable group 153,800 222,877
Auditors' remuneration - audit 15,000 14,187

During the year, no Trustees received any remuneration (2020 - £nil). During the year, no Trustees received any benefits in kind (2020 - £nil).

One Trustee received reimbursement of expenses amounting to £1,787 in the current year (2020 – two Trustees received reimbursements of £15,494).

8. STAFF COSTS

Staff costs were as follows:

2021 2020
£ £
Wages and salaries 560,937 527,351
Social security costs 63,592 80,795
Other pension costs 44,050 99,842
668,579 707,988

The average number of persons employed by the company during the year was as follows:

2021 2020
No. No.
Administration and Management 15 21
The number of higher paid employees was:
2021 2020
No. No.
In the band £70,001 - £80,000 1 1
In the band £80,001 - £90,000 1 0

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

9. TANGIBLE FIXED ASSETS

Long-term
Freehold leasehold **Plant and ** Fixtures and Computer
property property machinery fittings equipment
GROUP £ £ £ £ £
COST
At 1 April 2020 37,769,600 2,112,441 149,264 603,303 431,254
Additions 137,000 1,072 - 1,333 2,257
At 31 March 2021 37,906,600 2,113,513 149,264 604,636 433,511
DEPRECIATION
At 1 April 2020 - 479,144 149,264 536,151 377,095
Charge for the year - 71,699 - 49,802 31,679
At 31 March 2021 - 550,843 149,264 585,953 408,774
NET BOOK VALUE
At 31 March 2021 37,906,600 1,562,670 - - 18,683 24,737
At 31 March 2020 37,769,600 1,633,297 - 67,152 54,159
Total
GROUP £
COST
At 1 April 2020 41,065,862
Additions 141,662
At 31 March 2021 41,207,524
DEPRECIATION
At 1 April 2020 1,541,654
Charge for the year 153,180
At 31 March 2021 1,694,834
NET BOOK VALUE
At 31 March 2021 39,512,690
At 31 March 2020 39,524,208

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

Freehold Long-term Fixtures Computer
property leasehold and equipment Total
property fittings
COMPANY £ £ £ £ £
COST
At 1 April 2020 37,769,600 1,240,623 2,140 94,628 431,254
Additions 137,000 - - 1,428 2,257
At 31 March 2021 37,906,600 1,240,623 2,140 96,056 433,511
DEPRECIATION
At 1 April 2020 - - 2,140 89,079 91,219
Charge for the year - - - 3,825 3,825
At 31 March 2021 - - 2,140 92,904 95,044
NET BOOK VALUE
At 31 March 2021 37,906,600 1,240,623 - 3,152 39,150,375
At 31 March 2020 37,769,600 1,240,623 - 5,549 39,015,772

10. DEBTORS

10. DEBTORS
GROUP COMPANY
2021 2020 2021 2020
£ £ £ £
Trade debtors 244,354 192,372 - 10,465
Amounts owed by group undertakings - - 2,299,713 1,380,085
Other debtors 111,921 502,497 - 375,368
Prepayments and accrued income 85,760 317,567 49,172 22,946
442,035 1,012,436 2,348,885 1,788,864

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

GROUP COMPANY
2021 2020 2021 2020
£ £ £ £
Bank loans 169,267 845,935 169,267 845,935
Other borrowings 139,330
-		 - 139,330 -
Trade creditors 401,480 171,797 86,796 29,158
Amounts owed to group undertakings - - 36,853 414,772
Other taxation and social security 58,080 121,358 16,241 25,000
Other creditors 1,029,092 2,025,463 33,957 -
Accruals and deferred income 1,049,787 408,750 68,012 81,974
2,847,036 3,573,303 550,456 1,396,839

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (continued)

The bank loans are secured by first legal charges over the charity’s freehold properties situated at 49-51 East Road and 2 & 4 Vestry Street, London N14 6AH and 32-36 Loman Street, Southwark, London SE1 and a legal mortgage over the leasehold property known as Block S1, Bermondsey Spa, Jamaica Road, London SE16 4BA.

The loans are also secured by guarantee offered by Can Mezzanine Limited and an unlimited guarantee from Mezzanine 2 Limited supported by first legal charge over the lease from the charity to Mezzanine 2 Limited over the property situated at 32-36 Loman Street, Southwark, London SE1.

The bank also holds the right of set-off for any liability existing against any other accounts held with the bank by the charity.

The terms of the loans require that the total amount owed to Triodos Bank must not exceed 85% of the properties' market value and that the EBITDA to debt service ratio is a minimum of 1.05.

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

GROUP COMPANY
2021 2020 2021 2020
£ £ £ £
Bank loans 11,367,708 9,991,383 11,367,708 9,991,383
Other loans 0 1,001,534 0 1,001,534
11,367,708 10,992,917 11,367,708 10,992,917

Creditors include amounts not wholly repayable over 5 years as follows:

GROUP COMPANY
2021 2020 2021 2020
£ £ £ £
Repayable by instalments 6,314,506 5,553,930 6,314,506 5,553,930
Repayable other than by instalments 0 1,001,535 0 1,001,535
6,314,506 6,555,465 6,314,506 6,555,465

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

13. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Balance at
Balance at 31 March
1 April 2020 **Income ** Expenditure 2021
£ £ £ £
UNRESTRICTED FUNDS
General funds 27,823,095 3,467,105 (3,394,391) 27,895,809
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
Balance at 31 March
1 April 2019 Income Expenditure 2020
£ £ £ £
GENERAL FUNDS
General funds 27,478,204 4,812,597 _(4,467,706) _ 27,823,095
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
Unrestricted Total
funds funds
2021 2021
£ £
Tangible fixed assets 39,512,690 39,524,208
Current assets 2,597,863 2,865,107
Creditors due within one year (3,573,303) (3,573,303)
Creditors due in more than one year **(11,367,708) ** (10,992,917)
27,895,809 27,823,095
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted Total
funds funds
2020 2020
£ £
Tangible fixed assets 39,524,208 39,524,208
Current assets 2,865,107 2,865,107
Creditors due within one year (2,847,036) (3,573,303)
Creditors due in more than one year _(10,992,917) _ (10,992,917)
27,823,095 27,823,095

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

15. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

GROUP
2021 2020
£ £
Net income for the year (as per Statement of Financial Activities) 72,714 344,891
Adjustment for:
Depreciation charges 153,180 222,877
Dividends, interest and rents from investments (2,652)
(6,523)		 (6,523)
Interest payments 551,976
409,061		 409,061
Decrease/(increase) in debtors 570,401 (159,085)
Decrease in creditors (188,929) (607,634)
Net cash provided by operating activities 1,156,690 203,587

16. ANALYSIS OF CASH AND CASH EQUIVALENTS

GROUP
2021 2020
£ £
Cash in hand 2,155,828 1,852,671
Total 2,155,828 1,852,671

17. PENSION COMMITMENTS

The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £44,050 (2020 - £99,842). No contributions were payable to the fund at balance sheet date at either the current or previous year.

18. CAPITAL COMMITMENTS

There was no capital commitments at the balance sheet date.

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. PRINCIPAL SUBSIDIARIES

Mezzanine 2 Limited Subsidiary name Company registration number Charity registration number Basis of control Equity shareholding %

Mezzanine 2 Limited 05081333 1104911 Govern the financial and operating policies 100%

Total assets as at 31 March 2021 Total liabilities as at 31 March 2021 Total funds as at 31 March 2021

£ 767,496 £ (2,759,221) £ (1,991,725)

Gross income for the year ended 31 March 2021 Expenditure for the year ended 31 March 2021 Deficit for the year ended 31 March 2021

£ 19,085 £ (863,174) £ (844,089)

CAN Mezzanine Limited

Subsidiary name Company registration number Charity registration number Basis of control Equity shareholding %

CAN Mezzanine Limited 05976914 1128255 Govern the financial and operating policies 100%

Total assets as at 31 March 2021 Total liabilities as at 31 March 2021 Total funds as at 31 March 2021

£ 2,269,882 £ (2,235,471) £ 34,411

Gross income for the year ended 31 March 2021 £ 3,440,011 Expenditure for the year ended 31 March 2021 £ (3,440,011) Deficit for the year ended 31 March 2021 £ (290,856)

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DocuSign Envelope ID: D0AA980E-9FAD-47FB-9EB6-7DCF403ABD03

THE HELEN TAYLOR THOMPSON FOUNDATION LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

19. PRINCIPAL SUBSIDIARIES (continued)

Education Saves Lives Subsidiary Education Saves Lives Company registration number 03921677 Charity registration number 1080131 Basis of control Govern the financial and operating policies

Total assets as at 31 March 2021 £ 3,957 Total liabilities as at 31 March 2021 £ (46,197) Total funds as at 31 March 2021 £ (42,240) Gross income for the year ended 31 March 2021 £ 25,222 Expenditure for the year ended 31 March 2021 £ (55,722) Deficit for the year ended 31 March 2021 £ (30,500)

20. FUNDS HELD AS AGENT

At the balance sheet date the company held £154,395 (2020 - £154,395) in trust on behalf of UBS, other London Funders and West Lindsey District Council. This relates to the Social Investment Fund, a fund which is being managed by the charitable company.

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