**REGISTERED COMPANY NUMBER: 03688829 (England and Wales) REGISTERED CHARITY NUMBER: 1076750** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2021** **FOR** **THE FOUNDATIONS TRUST** Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH **THE FOUNDATIONS TRUST** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ||**Page**| |---|---| |**Report of the Trustees**|1 to 4| |**Independent Examiner's Report**|5| |**Statement of Financial Activities**|6| |**Balance Sheet**|7 to 8| |**Notes to the Financial Statements**|9 to 17| **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 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 Republic of Ireland (FRS 102) (effective 1 January 2019). This report contains a directors' report as required by company law. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives of the charity are to advance religion through the provision of Christian education, which is carried out by means of: The Round Church Visitor Centre and related ministries which include: - A video presentation, at the Round Church, on relevant historic aspects of Cambridge. - Permanent exhibition panels at the Round Church. - Guided walks around Cambridge for all ages. - Special occasional events, including Round Church Talks and discussions, both in person and online. - The development of written outputs, both online and in print. - Seminars and tutorials for church and student workers. - Round Church discussion lunches. ## **Significant activities** As we reported in our 2020 accounts, the COVID pandemic severely impacted our activities, as a substantial component of our work is oriented towards visitors to Cambridge. These tensions continued into 2021, although as restrictions relaxed, we extended our activities appropriately. We devoted much of our attention in the second half of 2021 to the anticipation of a formal expansion of our work in 2022. ## **Public benefit** The Trustees have considered the Charity Commission's general guidance on public benefit and in particular, its supplementary guidance on the advancement of religion for the public benefit. The "Objectives and Activities" section of the report provides a brief summary of activities undertaken together with a confirmation that the Trustees have had due regard to the general guidance on public benefit. Visitors to the Round Church, by reading the exhibition and watching the film, hear of the positive contribution which Christianity has made in our culture from the foundation of the universities, the development of modern science, the development of humanitarian tradition and the rule of law and constitutional government Locals are reminded of Cambridge's significant religious history, something which is not a particular focus for any other tour providers in the vicinity. Attendees at our events are all encouraged to think carefully about how they can make a positive contribution to society and how they can be better followers of Jesus Christ. ## **Volunteers** As COVID restrictions began to relax during the year, we began to reopen the Round Church, but this was limited by the availability of staff and volunteers. We have been grateful for the dedication of our Doorkeepers who man the welcome desk at the front of the church, and have embarked upon an initiative to expand their number through recruitment. Page 1 **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## **STRATEGIC REPORT Achievement and performance** ## **Achievements** 2021 was characterised by a careful adherence to COVID regulations, as well as cautious fiscal policy, to ensure that income and expenditure were responsibly balanced. During 2021, we continued our emphasis on providing high-quality, academically-rigorous online content via webinars, including speakers such as Dr. John R. Betz (University of Notre Dame) and Dr. Gary Habermas (Liberty University), Dr. Chris Watkin (Monash University) as well as our own Andrew Fellows. Topics covered included historical, philosophical, scientific and theological matters. We co-hosted a successful online Forming a Christian Mind conference in November, where the speakers were Prof. David Bebbington and Andrew Fellows. Ahead of our 2022 plans to refresh the Board of Trustees, rename the charity and enhance its mission, we embarked upon a strategic review of our activities. This resulted in new trustees joining the board and others retiring, with the renaming taking place just before the new year. ## **Financial review** ## **Financial position** Unrestricted income in the year totalled £59,431 (2020: £36,150). This position continued to reflect the impact of the ongoing pandemic upon our activities, which have historically been dependent upon visitor numbers. At the end of the year, the cash at bank was £48,480 (2020: £36,773). ## **Reserves policy** We continue to maintain an accounting policy which accurately tracks the support raised by employees. ## **Principal risks and uncertainties** During 2021, the long tail of the COVID pandemic continued to raise uncertainties as we sought to plan ahead. In anticipation of a more extended opening regime in 2022, careful attention has been given to staffing and volunteers. Given the natural uncertainties pertaining to visitor revenues, more emphasis has been given to communicating our needs with our traditional support base. ## **Future plans** The beginning of 2022 saw us soft-launch the Cambridge Christian Study Centre within the north aisle of the Round Church, focusing on the support of Christian students at Cambridge University. This operates alongside the Round Church Visitor Centre. The addition of this project was made possible by our reorganization and facilitated by our name change - where 'The Foundations Trust' sits behind a range of different public project brands, each serving a clear target audience. Our staff recruitment reflected this change of strategy, enabling our administration and operational staff to give support across a range of projects. It also facilitated our strategic partnership with various Christian university ministries, including UCCF and IFES, such that specific projects (such as Forming a Christian Mind) constitute partnership activities with other ministries, where the Trust itself agrees to provide the necessary operational contribution. Page 2 **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is a charitable company limited by guarantee and was incorporated on 24th December 1998. It is governed by articles of association which were adopted on 1 July 2014. Its objects and principal activity is to advance the Christian religion and promote Christian theology in accordance with the Bible. This is done in the following ways: - By providing a visitor centre at the Round Church in Cambridge - By providing guided walks around Cambridge - By providing specific courses, seminars and lectures - By providing a range of educaitonal, mentoring and apprenticeship programmes ## **Recruitment and appointment of new trustees** A panel comprising existing Trustees selects members of the Trustee Board at the suggestion of the Trustees. Trustees are selected both for their sympathy for and knowledge of the work of the Trust and for their professional skills. Trustees serve for a period agreed at the time of their appointment, and we refreshed the existing Board at the end of 2021. ## **Organisational structure** At the present time there are six Trustees, one of whom is acting as Director. Alongside the reporting on the activities undertaken by the charity, the Trustees play an active role in overseeing the financials of the organisation, which includes the setting of the annual budget. They are also directly involved in the process of strategic planning, especially in the implementation of new vision. ## **Induction and training of new trustees** Candidates are well-known to the charity prior to appointment, and many have a wealth of experience in similar roles elsewhere. They are familiar with the work of the charity and the expectations that will therefore be placed upon them. Any technical issues which are beyond the remit of the existing expertise on the Board are outsourced to fit and proper individuals, possessed of the requisite skills. ## **Controls** The Trustees are satisfied that the current system of internal controls, financial or otherwise, are fit for purpose for the charity, given its current size and the funds involved. However, they are also aware that as the scope of the work grows, changes are likely to be required. Therefore, all roles are kept under review and improvements will be introduced when necessary. Existing systems and controls (monthly cashflow, forecasts, budgets and regular monitoring) are therefore being maintained, as well as reviewed for effectiveness, leading to an ongoing process of improvement. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 03688829 (England and Wales) ## **Registered Charity number** 1076750 ## **Registered office** The Round Church Vestry Bridge Street CAMBRIDGE Cambridgeshire CB2 1UB Page 3 **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021** ## **Trustees** Mrs E Cooper (resigned 20/1/2022) J W Fletcher Rev R C Macaulay K A Moss (resigned 20/1/2022) T S Laurence M C Lown (resigned 20/1/2022) Dr L Brown (appointed 19/1/2022) Prof J C Lennox (appointed 19/1/2022) A L Mcilhinney (appointed 19/1/2022) Rev Dr M H Lillicrap (appointed 19/1/2022) ## **Independent Examiner** Matthew Pettifer FCA Institute of Chartered Accountants in England and Wales Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: .................................................................... T S Laurence - Trustee Page 4 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FOUNDATIONS TRUST** ## **Independent examiner's report to the trustees of The Foundations Trust ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company 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. Matthew Pettifer FCA Institute of Chartered Accountants in England and Wales Staffords Chartered Accountants Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH Date: ............................................. Page 5 **THE FOUNDATIONS TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021** |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**43,640**
**Charitable activities**
Ministry
**-**
Other trading activities
4
**15,789**
Investment income
5
**2**
**Total**
**59,431**
**EXPENDITURE ON**
Raising funds
**(787)**
**Charitable activities**
Ministry
**22,834**
**Total**
**22,047**
**NET INCOME/(EXPENDITURE)**
**37,384**
**Transfers between funds**
16
**(18,634)**
**Net movement in funds**
**18,750**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**14,805**
**TOTAL FUNDS CARRIED FORWARD**
**33,555**|Restricted
funds
£
**83,388**
**30,400**
**-**
**-**
**113,788**
**-**
**140,567**
**140,567**
**(26,779)**
**18,634**
**(8,145)**
**30,322**
**22,177**|**2021**
**Total**
**funds**
**£**
**127,028**
**30,400**
**15,789**
**2**
**173,219**
**(787)**
**163,401**
**162,614**
**10,605**
**-**
**10,605**
**45,127**
**55,732**|2020
Total
funds
£
86,343
52,606
10,900
20
149,869
1,728
170,350
172,078
(22,209)
-
(22,209)
67,336
45,127| |---|---|---|---| The notes form part of these financial statements Page 6 ## **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **BALANCE SHEET** ## **31 DECEMBER 2021** **----- Start of picture text -----**
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 3,400 - 3,400 4,533
CURRENT ASSETS
Stocks 13 5,663 - 5,663 4,808
Debtors 14 831 1,347 2,178 1,343
Cash at bank 26,127 22,353 48,480 36,773
32,621 23,700 56,321 42,924
CREDITORS
Amounts falling due within one year 15 (2,466) (1,523) (3,989) (2,330)
NET CURRENT ASSETS 30,155 22,177 52,332 40,594
TOTAL ASSETS LESS CURRENT
LIABILITIES 33,555 22,177 55,732 45,127
NET ASSETS 33,555 22,177 55,732 45,127
FUNDS 16
Unrestricted funds:
General fund 33,555 14,805
Restricted funds:
Personal Support 4 7,907 3,230
Personal Support 9 5,778 (1,757)
Mandarin Project 7,160 6,349
Culture Recovery Fund 1,332 22,500
22,177 30,322
TOTAL FUNDS 55,732 45,127
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 7 **THE FOUNDATIONS TRUST (REGISTERED NUMBER: 03688829)** ## **BALANCE SHEET - continued 31 DECEMBER 2021** - The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. T S Laurence - Trustee The notes form part of these financial statements Page 8 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **1. LEGAL FORM** Christian Heritage is a company limited by guarantee and has no share capital. The Trust was incorporated in England and its registered office is The Round Church Vestry, Bridge Street Cambridge, CB2 1UB. The functional currency of the Trust is Sterling. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Public Benefit** Christian Heritage meets the definition of a public benefit entity under FRS 102. ## **Significant judgements** Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity's accounting policies that have significant effect on the amounts recognised in the accounts. There are no key assumptions concerning the future or other key 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. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 20% on reducing balance continued... Page 9 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **2. ACCOUNTING POLICIES - continued** ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds: The charity maintains a general unrestricted fund, which represents funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity. ## Restricted funds: Restricted funds have been provided to the charity for particular purposes and it is the policy of the board of trustees to monitor carefully the application of those funds in accordance with the restrictions placed upon them. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Donated services** The charity has benefited from the contribution of unpaid general volunteers, but has not recognised this donated service in the accounts. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments and accrued income are recognised at the amount prepaid or accrued net of any trade discounts due. ## **Cash at bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of 3 months or less from the date of acquisition or opening of the deposit.. ## **Creditors** Creditors are recognised when 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. ## **Financial instruments** 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 continued... Page 10 **THE FOUNDATIONS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** **----- Start of picture text -----**
3. DONATIONS AND LEGACIES
2021 2020
£ £
Donations- general 127,028 86,343
4. OTHER TRADING ACTIVITIES
2021 2020
£ £
Shop income 15,789 10,900
5. INVESTMENT INCOME
2021 2020
£ £
Deposit account interest 2 20
6. INCOME FROM CHARITABLE ACTIVITIES
2021 2020
Activity £ £
Grants Ministry 30,400 52,606
Grants received, included in the above, are as follows:
2021 2020
£ £
-
National Heritage COVID grant 22,500
JRS Covid Furlough Grant 30,400 30,106
30,400 52,606
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation - owned assets 1,133 1,511
**----- End of picture text -----**
continued... Page 11 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **8. INDEPENDENT EXAMINERS' REMUNERATION** The Independent Examiner received remuneration of £2,208 (2020: £2,148) for the examination of the Financial Statements. ## **9. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. There was no Trustees compensation in the year. Key personal management personnel were compensated £89,169 (2020: £78,750). ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **10. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs|**2021**
**£**
**105,863**
**10,661**
**2,182**
**118,706**|2020
£
116,731
11,270
2,161
130,162| |---|---|---| The average monthly number of employees during the year was as follows: |Number of full time staff
Number of part time staff|**2021**
**3**
**-**
**3**|2020
3
1
4| |---|---|---| No employees received emoluments in excess of £60,000. continued... Page 12 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** **----- Start of picture text -----**
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 25,230 61,113 86,343
Charitable activities
-
Ministry 52,606 52,606
-
Other trading activities 10,900 10,900
Investment income 20 - 20
Total 36,150 113,719 149,869
EXPENDITURE ON
-
Raising funds 1,728 1,728
Charitable activities
Ministry 42,372 127,978 170,350
Total 44,100 127,978 172,078
NET INCOME/(EXPENDITURE) (7,950) (14,259) (22,209)
Transfers between funds (11,846) 11,846 -
Net movement in funds (19,796) (2,413) (22,209)
RECONCILIATION OF FUNDS
Total funds brought forward 34,601 32,735 67,336
TOTAL FUNDS CARRIED FORWARD 14,805 30,322 45,127
**----- End of picture text -----**
continued... Page 13 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** **----- Start of picture text -----**
12. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2021 and 31 December 2021 51,935
DEPRECIATION
At 1 January 2021 47,402
Charge for year 1,133
At 31 December 2021 48,535
NET BOOK VALUE
At 31 December 2021 3,400
At 31 December 2020 4,533
13. STOCKS
2021 2020
£ £
Stocks 5,663 4,808
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Prepayments 2,178 1,343
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
-
Social security and other taxes 1,024
Other creditors 499 386
Accruals and deferred income 2,466 1,944
3,989 2,330
**----- End of picture text -----**
continued... Page 14 **THE FOUNDATIONS TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **16. MOVEMENT IN FUNDS** |At 1/1/21
£
**Unrestricted funds**
General fund
**14,805**
**Restricted funds**
Personal Support 4
**3,230**
Personal Support 9
**(1,757)**
Personal Support 11
**-**
Mandarin Project
**6,349**
Culture Recovery Fund
**22,500**
**30,322**
**TOTAL FUNDS**
**45,127**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Personal Support 4
Personal Support 9
Personal Support 11
Mandarin Project
Culture Recovery Fund
**TOTAL FUNDS**|Net
movement
in funds
£
**37,384**
**4,677**
**7,535**
**(18,634)**
**811**
**(21,168)**
**(26,779)**
**10,605**
Incoming
resources
£
**59,431**
**51,451**
**36,251**
**23,804**
**2,282**
**-**
**113,788**
**173,219**|Transfers
between
At
funds
31/12/21
£
£
**(18,634)**
**33,555**
**-**
**7,907**
**-**
**5,778**
**18,634**
**-**
**-**
**7,160**
**-**
**1,332**
**18,634**
**22,177**
**-**
**55,732**
Resources
Movement
expended
in funds
£
£
**(22,047)**
**37,384**
**(46,774)**
**4,677**
**(28,716)**
**7,535**
**(42,438)**
**(18,634)**
**(1,471)**
**811**
**(21,168)**
**(21,168)**
**(140,567)**
**(26,779)**
**(162,614)**
**10,605**| |---|---|---| continued... Page 15 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **16. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |Net
movement
At 1/1/20
in funds
£
£
**Unrestricted funds**
General fund
34,601
(7,950)
**Restricted funds**
Saints and Scholars
4,999
-
Personal Support 4
11,136
(7,906)
Personal Support 6
3,276
(3,276)
Personal Support 7
6,592
(6,592)
Personal Support 9
(677)
(3,280)
Personal Support 10
1,060
(1,060)
Personal Support 11
-
(14,645)
Mandarin Project
6,349
-
Culture Recovery Fund
-
22,500
32,735
(14,259)
**TOTAL FUNDS**
67,336
(22,209)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
36,150
**Restricted funds**
Personal Support 4
38,880
Personal Support 6
1,278
Personal Support 7
1,533
Personal Support 9
20,326
Personal Support 10
1,440
Personal Support 11
27,762
Culture Recovery Fund
22,500
113,719
**TOTAL FUNDS**
149,869|Transfers
between
At
funds
31/12/20
£
£
(11,846)
14,805
(4,999)
-
-
3,230
-
-
-
-
2,200
(1,757)
-
-
14,645
-
-
6,349
-
22,500
11,846
30,322
-
45,127
Resources
Movement
expended
in funds
£
£
(44,100)
(7,950)
(46,786)
(7,906)
(4,554)
(3,276)
(8,125)
(6,592)
(23,606)
(3,280)
(2,500)
(1,060)
(42,407)
(14,645)
-
22,500
(127,978)
(14,259)
(172,078)
(22,209)| |---|---| continued... Page 16 **THE FOUNDATIONS TRUST** **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021** ## **16. MOVEMENT IN FUNDS - continued** **Personal Support Funds** : These funds consists of gifts from individual supporters for the salary costs of members of staff. **Saints and Scholars** : This fund consists of income and expenditure on the production of the Saints and Scholars Film. **Mandarin Project:** This funds consists of gifts for the translation of written material and the guided walk narrative into Mandarin. **Cultural Recovery Fund** : Funding from the National Lottery Heritage Fund to help the charity reopen and recover. ## **Transfers between funds** During the year £18,634 was transferred from the general fund to PS11 to support the shortfall in donations raised to cover the salary. ## **17. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2021. Page 17