OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity Number: 1078969

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

CONTENTS PAGE
Legal and administrative information 1
Report of the Trustees 2 – 9
Independent auditor’s report 10-12
Financial statements comprising: -
Statement of Financial Activities 13
Balance sheet 14
Cash flow statement 15
Notes to the accounts 16 – 24
List of grants 25 - 30

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

TRUSTEES

Mrs. S. J. Heath (Chairman) Mrs. J. M. Chamberlain Mrs. C. Donald Mr. R. Griffith Mr. A. J. Heath Mr. B. D. Insch Mr. J. N. van Leuven, Q.C.

SENIOR MANAGEMENT TEAM:

Director Mrs. D. Napierala Grant Officer Miss J. Hughes PRINCIPAL ADDRESS Hayward House, 45 Harrington Gardens, London SW7 4JU BANKERS CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ SOLICITORS Stone King, Boundary House 91 Charterhouse Street London EC1M 6HR AUDITORS Crowe U.K. LLP, 55 Ludgate Hill, London EC4M 7JW INVESTMENT MANAGERS Newton Investment Management Ltd, Mellon Financial Centre, 160 Queen Victoria Street, London EC4V 4LA OU Endowment Management, 27 Park End Street, Oxford OX1 1HU

1

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

LEGAL AND ADMINISTRATIVE INFORMATION

The Trustees present their report with the financial statements of The Charles Hayward Foundation for the year ended 31st December 2020. Legal and Administrative information on page 1 forms part of this report.

CONSTITUTION AND HISTORY OF THE FOUNDATION

The Charles Hayward Foundation is a charitable trust governed by a Trust Deed dated 8[th] December 1999 and registered in England and Wales under the Charities Act 2011, Registration No.1078969. It commenced operations on 1[st] January 2000, combining the activities of The Hayward Foundation and The Charles Hayward Trust, which were formed in 1961 and 1980 respectively.

PRINCIPAL AIMS, ACTIVITIES AND GRANT MAKING POLICY

The Charity’s aims as set out in the Trust Deed are to apply the Trust Fund to or for the benefit of such exclusively charitable purposes as the Trustees may from time to time at their discretion determine. The Charles Hayward Foundation is a grant-making trust which makes awards to charities registered in the British Isles. Although the Foundation's activities are concentrated geographically in the British Isles, there is also an overseas category through which the Trustees make grants to UK registered charities undertaking projects in the Commonwealth Countries of Africa. Grants can only be made for charitable purposes.

The Foundation operates both a main and small grant programme and its grant-making policy comprises the following categories:

Within these categories The Charles Hayward Foundation funds project costs and capital expenditure. Generally, when funding projects, the Trustees value projects that develop, expand and replicate a tried and tested approach but are also interested in supporting creative solutions to problems which seem to be entrenched and elude resolution. They value projects that are preventative and provide early intervention. They prefer to support projects that respond to a well researched and clear need, provide intervention based on evidence of what works, are able to demonstrate value for money and have a good understanding of short-term effects and long-term impact of the intervention they propose.

Category specific information and guidelines for applicants are available on the Foundation's website: www.charleshaywardfoundation.org.uk

2

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

STRUCTURE GOVERNANCE AND MANAGEMENT

The Foundation operates from its Hayward House offices in London with a small permanent staff. Trustee board meetings are held four times a year to consider grant applications, receive reports on activities, and monitor routine operations. The Foundation’s main grant programme comprises a twostage process. A grants committee which meets on a quarterly basis selects applications to be put forward to the full Trustees’ meeting as a second and final stage of the grant making process. Decisions are made on the basis of information provided at meetings and taking into account recommendations by staff. A Finance Sub-Committee advises the main Trustee board on matters of finance, investment, audit and personnel. The Foundation’s accounts are subject to an independent annual audit.

Appointment and re-appointment of Trustees is by Trustees’ resolution. The Trustees are appointed for a term of five years after which they may be re-appointed for a further three years but serve no more than eight years in total, other than in exceptional circumstances. The board may re-appoint a Trustee beyond the aggregate period of 8 years if there is a good reason for so doing and by unanimous vote of those present at a meeting. The Chairman is appointed by the Trustees for one year.

The board regularly reviews the range of skills among Trustees. The Foundation encourages training and development of Trustees by promoting attendance at events organised by the Association of Charitable Foundations, appropriate training sessions and other topical, financial and investment seminars.

New Trustees are chosen for the particular skills and experience they can bring to the Foundation. Potential Trustees are interviewed and briefed by the Chairman on their legal obligations under charity law and the Trust Deed, the function of the committees and the decision making processes at the Foundation. They are provided with two documents from the Charity Commission: ‘Essential Trustee’ and ‘The Hallmarks of an Effective Charity’ as well as with the Foundation’s own information pack including the Trust Deed, accounts and annual report. When a new Trustee joins the board, they receive minutes of Trustees’ recent meetings and other management and financial reports and are encouraged to attend a training seminar for new Trustees organised by external bodies.

The Trustees consider the board of Trustees and the senior management team comprise the key management personnel of the charity in charge of directing and running the Foundation on a day-today basis. The Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses are disclosed in note 5.

The remuneration of the senior staff is reviewed by the Trustees on an annual basis taking into account the requirements of their role and performance during the year. From time to time the Trustees benchmark pay levels against comparable positions in similar organisations.

The Trustees have complied with the Charities Act, having due regard for the Charity Commission guidance on public benefit when reviewing the Foundation’s aims and objectives, in setting the grant making policy and in making awards. These are made only to UK registered charities, which individually have to meet the public benefit requirement.

Review of the Year

2020 was an exceptional year – ‘unprecedented’ – was the most commonly used word to describe it as the new realities of the Covid-19 pandemic have hit and thoroughly tested us for most of the year and beyond. The pandemic has brought many challenges to already stretched charities yet their concern was always for the safety and wellbeing of their beneficiaries; they responded at speed exploring different ways to support them. Working to ever changing government advice they adapted their programmes, often by suspending face-to-face delivery but continuing to work online and over the phone. We have adapted with them - our office has remained open throughout the year and we continued to engage and support; we signed up to the London Funders’ joint statement in response to Covid-19 and made a pledge to be responsive to need, flexible, and understanding of the ‘new normal’. We have funded new programmes to tackle even more difficult social challenges and, as we

3

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

begin a slow process of emerging from the pandemic, we continue to be impressed by the meaningful and creative ways our partner charities have found to maintain connection and provide help and support. We are proud to have played our part by making grants to these vital projects and give examples of their work within each funding category.

Achievements and performance

In 2020 the Trustees made new offers of grants, some multi-year, amounting to £1,687,250 and paid grants to 175 organisations totalling £2,145,616. At the end of the year under review the Foundation had outstanding grant offers and commitments of £1,869,050.

The relevance of each application and the potential outcome that an applicant proposes to achieve with help of a grant from the Foundation is assessed against the stated criteria and objectives in each category of the Trustees’ grant making policy. While the monitoring and evaluation of outcomes remains the responsibility of grantees, the majority of organisations are asked to send a progress report within a year of a grant being paid. With multiple grant awards a progress report is requested within a year of each payment and prior to further payments. The report is required to detail the results and outcomes of the project and the extent to which the project is meeting the objectives stated in the original application. The Trustees and staff also make their own assessment by occasionally visiting some of the recipient organisations. Overall, these processes provide evidence that the Trustees continue to meet their charitable objectives by funding a variety of organisations the majority of which have met, and some exceeded, their stated outcomes.

The report below provides details of grant distribution by category although it should be noted that a number of grants impact on more than one area. The narrative below highlights some outcomes achieved with the financial contribution from the Foundation in this exceptional year.

Grants paid during the year were distributed as follows: -

BY CATEGORY

BY CATEGORY
Social and Criminal Justice
Heritage and Conservation
Overseas
Small Grants
Miscellaneous
TOTAL		 £
£1,489,000
£182,000
£178,200
£254,136
£42,280
£2,145,616		 %
69.4
8.5
8.3
11.8
2.0
100.0		 No.
66
8
12
56
33
175

This report highlights representative grants paid during 2020:

Social and Criminal Justice

The Foundation supported projects that help to prevent people entering the criminal justice system and to support those already in the system to move on and rebuild their lives. Funding in this category is also aimed at early intervention programmes for young children and their families, tailored preventative work with young people at risk of offending, and support services that try to reduce reoffending and aid re-settlement. The Foundation also looks to alleviate the consequences of domestic abuse and criminal exploitation of vulnerable persons. A total of 66 grants were made in this area in 2020.

Her Centre received their third grant payment of £25,000 towards the salary of their Independent Domestic Violence Advocate for their “One Stop Shop" drop-in advice service in Greenwich. The service supported 197 women during the year with advice on domestic abuse and family law; emotional and practical help with issues such as housing, finances and immigration; and referrals to group and individual counselling, as well as more in-depth support around domestic abuse. In response to Covid-19 restrictions shutting down face-to-face delivery of the service, Her Centre adapted to continue the delivery of the service online and via phone, and produced information sheets on multiple agencies offering additional practical and emotional support.

4

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Mentoring Plus received a grant of £15,000 (second grant payment of three) towards their year-long volunteer-led one-to-one mentoring of vulnerable and disadvantaged children and young people (aged 7-21) across Bath and North East Somerset. This year, 140 young people, 72 of whom were new matches, benefitted from 1-3 hours per week of mentor time, complemented by an activities programme. Mentoring Plus implemented a rapid redesign of their services (all normally provided face-to-face) in response to Covid-19, with all young people continuing to receive weekly support via Facetime and other online tools, through letters, care packages, or videos and sound files. Youth clubs and activities have been delivered online, and the charity is supporting young people to access online support safely and appropriately, with parental permission and mindful of confidentiality and security.

A final grant instalment of £25,000 was made to Prison Advice & Care Trust (Pact) towards the salary of their National Volunteer Co-ordinator – a key role in the charity’s ‘Reasons to Care’ project which aimed to significantly increase and improve the recruitment, training, and support of volunteers in order to better support prisoners and their families across the UK. The project doubled the number of volunteer hours, which were provided by 825 volunteers, an increase of more than 300 since 2017. PACT responded to the challenges of Covid-19 (eg. prisons going into lockdown, family visits and rehabilitation work ceasing, etc) by providing volunteer training online, creating new roles on the charity’s helpline – the capacity of which was trebled- and delivering remote support to prisoners.

Heritage & Conservation

The main focus in this category is on protecting, restoring and interpreting past inventions, discoveries, industrial sites and defining moments that have shaped British history and identity, and displaying them in a modern context for public engagement, use and learning. In 2020, eight grants were made in this category.

Railway Paths received a grant of £30,000 towards the repair, restoration and re-opening of Bennerley Viaduct – a Grade II* listed former railway viaduct crossing the Erewash Valley between Awsworth in Nottinghamshire and Ilkeston in Derbyshire, one of only two wrought iron viaducts left in the UK. The project involves critical repairs to the viaduct enabling it to be removed from the Heritage at Risk register, as well as works to make it accessible to the public, giving it a new purpose and ensuring its long-term future.

A grant of £25,000 was made to We the Curious, an educational charity and visitor attraction in Bristol, towards ‘Project What If’ – a £6 million redevelopment based on the interpretation of seven themes selected from responses to the charity’s community consultation in which they asked people “What are you curious about?”. The project aims to increase participation in informal STEM (Science, Technology, Engineering & Maths) learning through the development of new exhibits and interactive installations, which also incorporate art, theatre and music as additional creative engagement platforms to reach new, and more diverse, audiences.

The Coastal Forces Heritage Trust (CFHT) received a grant of £10,000 towards the development of a permanent museum, sited on the Gosport Peninsula as an addition to the existing Submarine Museum and Explosion Museum, to tell the story of the Coastal Forces and their achievements in two World Wars. The project involves the production and installation of display materials and interactive exhibits, as well as the restoration of two WWII Coastal Forces vessels CMB 331 and MTB 71 (a Torpedo Boat that participated in D Day), which will form part of a central exhibit in the museum.

Overseas

In this category, Trustees made grants to charities that delivered projects in Commonwealth countries in Africa. Charities must be registered in the UK and adequate local monitoring must be exhibited. Projects that improve access to clean water and sanitation, provide basic health programmes, and create self-sustainability through training in farming skills and income generation activities were considered in this category. 12 grants were paid in this group in 2020.

The Foundation supported CRESS with a grant of £10,500 towards a project to address food insecurity and improve the self-sufficiency of 320 female farmers in the refugee settlement area of Mijale in Northern Uganda. The project involves the establishment of 16 Agricultural and Savings Groups who receive training in organic and sustainable agricultural techniques, support to set up saving schemes and administer loans to group members, and training and advice to develop smallscale enterprises and additional income generation opportunities.

5

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

A grant of £15,000 was made to Theatre for a Change for the delivery of mobile health clinics for the benefit of 500 marginalised girls in Lilongwe, Malawi, involving the provision of sexual and reproductive health services and basic health treatment for the girls and their babies/infants. The project works to improve girls’ knowledge and reduce their chances of HIV, STIs and maternal morbidity, as well as increasing access to family planning, and in turn increasing the likelihood of them taking up educational and income generating activities.

EdUKaid was awarded a grant of £14,600 towards their work to provide safe, sustainable sources of clean drinking water in five primary schools in rural Tanzania, directly benefitting over 2,600 children and 79 teachers and their families. Boreholes were drilled and water pumps installed at each of the five schools, with 142 local community volunteers trained in their maintenance; and 22 teachers and school management committee members trained to deliver hygiene and sanitation training.

Small Grants

The small grant programme provides assistance up to £7,000 to charities operating in the British Isles with a turnover of less than £350,000. In 2020, small grants were made across two categories: Social and Criminal Justice and Older People. The small grant programme makes faster and more responsive grants to smaller charities delivering projects at community/grass-roots levels. In 2020, 56 grants were made in this category. A list of small grants with the purpose for which each grant was made is attached to these statements.

FUTURE PLANS

The Trustees will continue supporting charities within their grant making policy areas by making grants for projects as the communities emerge from the pandemic. The Trustees continue to assess the impact of Covid-19 on the foundation’s commitments and the level of support required going forward. They will continue monitoring the financial performance of their investment portfolio with a particular reference to the achievement of their longer-term strategy which gives greater emphasis to the preservation of capital.

TRUSTEE ACTIVITIES

No Trustee visits took place this year, however, Trustees, members of the finance sub-committee and staff attended various thematic webinars, online events and seminars on investment management and investment strategy, including the Newton/BNY Mellon Charity Investment Conference, OUEM annual investor meeting and Sarasin’s Annual Investment Seminar.

INVESTMENT POWERS, GRANT DISTRIBUTION, RESERVES POLICY AND GOING CONCERN

The Charles Hayward Foundation is a grant making charity. Its assets are essential to support the activities of the Foundation and are held as investments and bank deposits.

The Trustees’ powers of investment, and to expend capital and income, are not restricted under the originating Trust Deed. In accordance with the Deed Trustees have absolute discretion to invest in such shares, stocks, funds, securities and property as they see fit.

The Foundation does not seek to retain reserves as the Expendable Endowment gives Trustees the flexibility to use capital as well as income to meet the charity’s operating costs and grant making obligations. Any operating deficit arising on income is met from the endowment fund and any surplus that may arise on income is expended in future years.

The Foundation aims to make grants based on a formula with an annual distribution rate of 3.2% applied to the average investment value on 31[st] December each year, over three years while taking into account annual running costs. The formula is designed to smooth annual grant distribution while maintaining the capital base in real terms over time. The formula has been operational since 2013 and during this time the overall objective of maintaining the fund in real terms has been achieved.

At the end of 2020, the total endowment fund stands at £73,766,351 and there is no balance on the unrestricted income fund.

6

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees have considered the financial budgets and cash flow forecasts for the Foundation for the period to May 2022 covering a minimum of 12 months from date of signing. This has included consideration of the ongoing impact of Covid-19 on the financial performance of the investment portfolio and the ability of the Foundation to meet ongoing and new grant commitments.

The Trustees consider the Foundation to have adequate resources to continue its activities for the foreseeable future and there are therefore no material uncertainties over the Foundation’s financial viability. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees’ Responsibilities.

INVESTMENT POLICY

The financial objective of the Foundation is to grow in real terms the Foundation’s capital base in the medium term, while providing increasing income to fund the Foundation’s grant making activities. The Foundation assets are invested in line with these aims. Trustees presently see no reason to exclude particular sectors from their investments - this is reviewed annually - however, they expect their investment managers to demonstrate responsible stewardship of investment assets.

The Foundation currently adopts a total return approach to investment and the Trustees may use capital as well as income to meet the charity’s operating costs and grant making obligations. It is expected that, if in any one year the total return is insufficient to meet the charity’s budgeted expenditure, in the long-term investment gains should enable the fund to be maintained in real terms. The inflation measure most relevant to the Foundation is the Consumer Price Index. Over a longer period, the Trustees compare performance to CPI+4% after fees. The ongoing performance of investment managers is monitored quarterly, while their mandate is to manage the investment assets on a discretionary basis and in line with the overall investment policy.

Since 1[st] January 2020 the Foundation’s assets are managed by two investment houses – Newton Investment Management and Oxford University Endowment Management. The Newton portfolio is currently held in their pooled fund, the Newton Growth and Income Fund for Charities; it’s mandate is to deliver capital growth and income. The Newton Fund is managed with reference to a composite benchmark. The Oxford Endowment Fund’s aim is to preserve and grow the value of perpetuity capital whilst providing a sustainable income stream to fund charitable activities. The fund is focused on delivering absolute real returns of 5% per annum. OEF is not benchmarked; one of its key approaches is a multi-year time horizon which aligns well with the Foundation’s long-term view and aims.

FINANCIAL REPORT FOR THE YEAR

The assets of the Foundation comprise fixed assets used in its operations and investments which provide returns. The net incoming resources of the Foundation for the year ended 31[st] December 2020 and the financial position at that date is set out in the financial statements which follow.

The financial statements show that the Foundation received income of £25,121 (2019: £5,319) in the year. The cost of grant making was £2,241,834 (2019: £2,674,798). The net operating deficit for the year was £2,551,823 (2019: £3,091,525), which was partially funded by the sale of units in the Newton investment portfolio but mostly covered by cash reserves arisen from investments liquidated in 2019. The financial statements show that the total funds were £73,766,351 (2019: £72,106,541) at the end of the year, after total investment gains for the year of £4,211,633 (2019: gains of £9,628,321). Investment management costs amounted to £335,110 in 2020 (2019: £422,046).

FINANCIAL PERFORMANCE

In 2020 the investment assets of the Foundations were divided between two investment houses: Newton Investment Management Ltd and Oxford University Endowment Management.

7

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

In 2020 the Newton Investment fund generated 1.68% after fees, outperforming its benchmark return by 0.62%. The OEF portfolio recorded a return of 11.5% after fees ahead of its objective of 5% real return.

In the year total investments to the value of £382,000 were encashed to support operational activities in 2020. Investment gains of £4,043,419 (after OEF fees) were made representing 5.5% (2019: 13.9%) of the investment portfolio value at the year end.

The Trustees believe that the changes made in investment strategy in 2019 and the subsequent repositioning of the Foundation’s portfolio will contribute to the aim of maintaining the value of the endowment fund in the longer term. The position will continue to be monitored in 2021 and the years ahead.

The Trustees continue to assess the ongoing impact of Covid-19 on their investment values and financial results which may affect their ability to make grants going forward. They feel confident they are able to meet their current grant obligations, but they will keep grant making under review.

At 31[st] March 2021, the Newton portfolio valuation was £43,087,270.

At 31[st] March 2021, the Oxford University Endowment Fund valuation was £31,274,284.

TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity 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 charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

Insofar as each of the Trustees of the charity at the date of approval of this report is aware there is no relevant audit information (information needed by the charity’s auditor in connection with preparing the audit report) of which the charity’s auditor is unaware. Each Trustee has taken all of the steps that he/she should have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the charity’s auditor is aware of that information.

8

THE CHARLES HAYWARD FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

RISK MANAGEMENT

The Trustees and management assess the major risks to which the charity is exposed, and this process continued during the year. In the opinion of the Trustees the charity has established, and continues to operate, systems and controls to mitigate risks to an acceptable level in day-to-day operations.

The Trustees indentified the uncertainly of financial returns to constitute the charity’s major financial risk. This is mitigated by having a diversified financial portfolio under the management of two investment houses operating to different mandates. Working through the financial sub-committee the Trustees regularly review investment strategy and monitor financial performance. They also operate a grant distribution formula which helps to ensure the stability of resources available for grant awards in any given year.

Another major risk identified during the review is a misuse of funds by a grantee charity. To mitigate this risk the Trustees restrict grants to charities registered with the UK Charity Commission or equivalent bodies. The awards are made following a due diligence process and grants are monitored; multiple grants are paid only on receipt of satisfactory progress reports.

A further major risk, heightened while working remotely, is IT related fraud. The Foundation’s staff attended the ACF seminar on tackling fraud, read related guidance and subscribed to the charity fraud awareness hub to receive email notices about new IT scams. In addition, the Foundation has taken insurance policy against cyber threats including social engineering.

THE TRUSTEES

The Trustees in office during the year were as follows:

Mrs. S.J. Heath (Chairman) Mrs. J. M. Chamberlain Mrs. C. Donald Mr A.J. Heath Mr. R. Griffith Mr. B. D. Insch Mr. J.N. van Leuven, Q.C.

No Trustee had any beneficial interest in any contract with the charity during the year.

EQUAL OPPORTUNITY POLICY

The Charles Hayward Foundation is an equal opportunities employer and will apply objective criteria to assess merit. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, colour, nationality, religion, ethnic or national origin, gender, marital status, sexual orientation or disability.

Selection criteria and procedures are reviewed to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities. All employees are given equal opportunity and, where appropriate and possible, special training to enable them to progress both within and outside the organisation. The Charles Hayward Foundation is committed to a programme of action to make this policy effective and has brought it to the attention of all employees.

Approved by the Trustees on 27[th] April 2021 and signed on their behalf by:

Susan Heath

9

THE CHARLES HAYWARD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Independent Auditor’s Report to the Trustees of the Charles Hayward Foundation

Opinion

We have audited the financial statements of the Charles Hayward Foundation (‘the charity’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's 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.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 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.

10

THE CHARLES HAYWARD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

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 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 8, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Acts 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR) and Employment legislation.

11

THE CHARLES HAYWARD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Finance Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.

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 auditor’s 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.

Crowe U.K. LLP Statutory Auditor

London

Date

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

12

THE CHARLES HAYWARD FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Income from:
Investments
2
Total income
Expenditure on:
Raising funds
- Investment management costs
3
Charitable activities
- Grant making
12
- Grant related support costs
4
Cost of grant making
Total expenditure
Net operating deficit
Net (losses)/gains on investments
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward*
11
Unrestricted
Income Fund
2020
£
25,121
25,121
-
(1,983,666)
(258,168)
(2,241,834)
(2,241,834)
(2,216,713)
-
(2,216,713)
2,216,713
-
-
-		 Expendable
Endowment
2020
£
-
-
(335,110)
-
-
-
(335,110)
(335,110)
4,211,633
3,876,523
(2,216,713)
1,659,810
72,106,541
73,766,351		 Total
2020
£
25,121
25,121
(335,110)
(1,983,666)
(258,168)
(2,241,834)
(2,576,944)
(2,551,823)
4,211,633
1,659,810
-		 6,536,796
-
6,536,796
65,569,745
72,106,541
1,659,810
72,106,541
73,766,351

In 2019 investment units totaling £33,183,313 were liquidated with £28 million earmarked for new investment which took place in early 2020 and the cash balance of £5,183,313 used to support charitable activities in 2020.

All recognised gains during the year are included in the Statement of Financial Activities.

The accompanying notes form part of this Statement of Financial Activities.

The notes on pages 16 to 24 form part of these accounts.

13

THE CHARLES HAYWARD FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
6
Investments
7
Total Fixed Assets
CURRENT ASSETS
Debtors and prepayments
8
Short-term deposits
Cash at bank and in hand
Total Current Assets
LIABILITIES:
Creditors: Amounts falling due within one year
9
NET CURRENT LIABILITIES
Total assets less current liabilities
Creditors: Amounts falling due after more than
one year
10
TOTAL NET ASSETS
The Funds of the Charity:
Expendable Endowment funds
11
Approved by the Trustees 27thApril 2021		 Total Funds
2020
£
2,120,234
73,005,073
75,125,307
15,154
520,000
35,997
571,151
(1,522,107)
(950,956)
74,174,351
(408,000)
73,766,351
73,766,351		 Total Funds
2019
£
2,153,527
69,263,279
71,416,806
15,203
2,730,000
47,359
2,792,562
(1,520,827)
1,271,735
72,688,541
(582,000)
72,106,541
72,106,541

and signed on their behalf by Susan Heath

The notes on pages 16 to 24 form part of these accounts.

14

THE CHARLES HAYWARD FOUNDATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Reconciliation of net income to net cash flow
from operating activities
Net income for the reporting period
Dividends, interest and rents from investments (note 2)
Losses/(Gains) on investments (note 7)
Decrease/(Increase) in debtors (note 8)
Decrease in creditors (notes 9 & 10)
Purchase of equipment (note 6)
Depreciation (note 4)
Net cash (used in) operating activities
CASH FLOW STATEMENT
Net cash (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Payments to acquire investments
Proceeds from sale of investments
Net cash provided by investing activities
Increase/(Decrease) in cash
2019
Analysis of cash and cash equivalents
£
Cash at bank and in hand
47,359
Short term deposits
2,730,000
Cash balances held by investment management for
re-investment
28,190,511
30,967,870		 2020
£
1,659,810
(25,121)
(4,043,419)
49
(172,720)
-
33,293
(2,548,108)
(2,548,108)
25,121
(28,020,569)
382,000
(27,613,448)
(30,161,556)
Cash
Flow
£
(11,362)
(2,210,000)
(27,940,194)
(30,161,556)		 2019
£
6,536,796
(5,319)
(9,628,321)
(2,353)
120,957
(3,844)
32,757
(2,949,327)
(2,949,327)
5,319
-
33,183,313
33,188,632
30,239,305
2020
£
35,997
520,000
250,317
806,314

The notes on pages 16 to 24 form part of these accounts.

15

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. PRINCIPAL ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Foundation constitutes a public benefit entity as defined by FRS 102.

The Trustees have considered the financial budgets and cash flow forecasts for the Foundation for the period to May 2022 covering a minimum of 12 months from date of signing. This has included consideration of the ongoing impact of Covid-19 on the financial performance of the investment portfolio and the ability of the Foundation to meet ongoing and new grant commitments.

The Trustees consider the Foundation to have adequate resources to continue its activities for the foreseeable future and there are therefore no material uncertainties over the Foundation’s financial viability. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees’ Responsibilities.

The financial statements are presented in Sterling and rounded to the nearest £.

(b) Income

Income is derived from the encashment of investment units.

Any recoverable taxation, which are included on an accruals basis.

(c) Expenditure

Costs of generating funds represent amounts paid to the Foundation's external investment advisors.

Charitable activities expenditure comprises grants and donations awarded by the Trustees in accordance with criteria set out in the Trust Deed, together with grant related support expenditure. Grants are charged to the statement of financial activities when a legal or constructive obligation arises when the other party has a reasonable expectation of receipt.

Grant related support costs represent staff, office and governance costs incurred in managing the grant award programme.

(d) Investments

Investments are included in the accounts at mid market value at the balance sheet date and the surplus or deficit on this revaluation, together with realised gains and losses, is included within investment gains or losses on the face of the Statement of Financial Activities.

Investment management costs are charged against the expendable endowment.

16

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. PRINCIPAL ACCOUNTING POLICIES – CONTINUED

(e) Governance Costs

These comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

(f) Pensions

Employees of the Foundation are entitled to avail themselves of a pension scheme whereby individual money purchase contributions are matched by contributions by the Foundation as a percentage of salary. The Foundation’s contribution is charged to the Statement of Financial Activities in the year. No contributions were outstanding at the year end.

(g) Taxation

The Foundation carries on activities which are exempt from corporation tax and income tax.

(h) Fixed assets

Freehold property is stated at valuation in 1990 by the predecessor charity, The Hayward Foundation, less depreciation. Furniture and office equipment, including computer equipment, is stated at cost, or valuation by the predecessor charities, less depreciation. Tangible assets with costs of £2,000 or more are capitalised.

Depreciation has been calculated at the following annual rates, in order to write off each asset over its estimated useful life.

Buildings 2% straight line Furniture and office equipment 20% straight line

The furniture in the office is mainly antique and has a residual value in excess of book value. Depreciation is not therefore provided, as the amount of any depreciation charge would not be material.

The freehold property requires routine internal and external refurbishment reflecting its age. Costs arising from meeting these needs are expensed in the year the expenditure is incurred as the need is identified and the refurbishment takes place. Material expenditure is disclosed in the notes to the accounts.

(i) The Trust Fund

Expendable Endowment

The trust deed provides that the Trustees shall hold the capital of the Trust Fund as expendable endowment and the income thereof for the benefit of such charitable purposes as the Trustees may determine. This fund as a whole therefore provides the core cash receipts of the Foundation and thereby the finance for its continuing activities. In 2013 and for future years the Trustees agreed to allocate an amount to the grant programme based on a percentage of the fund value on 31[st] December, calculated on a three year moving average basis and taking into account annual running costs. The Fund is subject to review by the Trustees from time to time to take account of the impact of inflation and so ensure that so far as possible its value is maintained in the accounts in real terms.

17

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. PRINCIPAL ACCOUNTING POLICIES – CONTINUED

Unrestricted Income Fund

The policy of the Trustees is to expend within a reasonable time its cash receipts from investments after deducting the costs of generating funds and administrative costs. Any balance on the Fund is transferred to the expendable endowment at the end of the year and remains available for future years.

(j) Financial instruments

The Charles Hayward Foundation 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 amortised cost using the effective interest method. Financial assets held at amortised cost comprise cash at bank and in hand, together with accrued interest and other debtors. Financial liabilities held at amortised cost comprise grants payable and accruals.

Investments are held as part of an investment portfolio are held at fair value at the Balance Sheet date, with gains and losses being recognised within income and expenditure.

(k) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand, cash held for reinvestment and short-term deposits with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(l) Critical accounting judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, which are described in note 1, Trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

2.
INVESTMENT INCOME
Investment income
Interest on deposits		 2020
£
23,130
1,991
25,121		 2019
£
4,294
1,025
5,319

18

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. COST OF GENERATING FUNDS

These costs comprise the investment manager’s fees. The Trustees are of the opinion that these relate to the generation of a total return on the investment portfolio and as such have charged the Expendable Endowment with these fees.

4. GRANT RELATED SUPPORT COSTS
GRANT RELATED SUPPORT COSTS
Establishment expenses
Personnel and pension costs (note 5)
Audit and Accountancy
Other expenses
Depreciation (note 6)
Included in support costs are governance related costs, analysed
as follows:
Establishment expenses
Personnel and pension costs
Audit and accounts preparation
Depreciation
Other expenses		 2020
£
37,567
156,712
15,752
14,844
33,293
258,168		 2019
£
111,130
164,899
14,860
29,954
32,757
353,600
2020
£
1,878
5,895
11,080
1,665
742
21,260		 2019
£
5,506
5,543
11,540
1,637
1,679
25,905

(Included in the above figures is an audit fee of £10,380 (2019: £10,700)).

Governance costs are charged in the following manner Establishment expenses, Depreciation and other expenses - 5%

Personnel costs based on the estimated % of each employee spent on governance issues.

Establishment expenses do not include any property refurbishment costs for 2020 as none were incurred during the year (2019: £64,349).

19

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

5.
PERSONNEL AND PENSION COSTS
Personnel costs
Social security costs
Pension and other benefit contributions
Average number of staff employed in year:
Full time
Part time		 2020
£
111,251
8,877
36,584
156,712
No.
2
0		 2019
£
122,326
10,441
32,132
164,899
No.
2
1

The average number of employees during the year was two (2019: three) of which two were employed on charitable support or governance activities.

Having regard to the small number of full-time employees the Foundation considers its key management personnel to comprise the two full time employees. The total employment benefits including employer pension contributions of these key management personnel were £155,065 (2019: £147,650).

One employee earned between £70,000 and £79,999 (2019: one employee earned between £70,000 and £79,999)

No Trustee received any remuneration for their services during the year; travelling expenses incurred on behalf of or reimbursed to four Trustees amounted to £1,451 (2019: six: £3,720)

20

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. TANGIBLE FIXED ASSETS

Cost or Valuation
At 1 January 2020
Additions
At 31 December 2020
Depreciation & amortisation
At 1 January 2020
Charge for year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Freehold
Property
£
2,959,000
-
2,959,000
942,780
32,510
975,290
1,983,710
2,016,220		 Furniture
£
148,160
-
148,160
14,440
-
14,440
133,720
133,720		 Office
Equipment
£
24,246
-
24,246
20,659
783
21,442
2,804
3,587		 Total
£
3,131,406
-
3,131,406
977,879
33,293
1,011,172
2,120,234
2,153,527

(a) The freehold property was donated to The Hayward Foundation in 1991 for the specific purpose of providing accommodation for the Foundation and its related charity The Charles Hayward Trust on a permanent basis. On transfer to The Charles Hayward Foundation, the Trustees adopted the transitional provisions of Financial Reporting Standard No 15 ‘Accounting for Fixed Assets’,

(b) All tangible assets are held for continuing use in the Foundation's activities.

(c) Freehold Property comprises a land element of £1,333,500 which, in line with Financial Reporting Standard 102, is not depreciated, and a buildings element of £1,625,500 which is subject to an annual charge for amortisation.

21

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

7.
INVESTMENTS
Listed investments
As at 1 January 2020
Additions at cost
Disposals
Unrealised & realised gains
At 31 December 2020
Cash held by investment managers for re-investment
Balance at 31 December 2020
Historic cost of listed investments at 31 December 2020
Analysis of investments:
Newton Growth & Income Fund for Charities
Oxford University Endowment Management
Cash held for re-investment
8.
DEBTORS
Prepayments
9.
CREDITORS: amounts falling due within one year
Grants payable(see note 12)
Trade creditors
Taxation and social security
Accruals		 2020
£
41,072,768
28,020,569
(382,000)
4,043,419
72,754,756
250,317
73,005,073
59,819,419
2020
£
41,798,223
31,206,850
-
73,005,073
2020
£
15,154
15,154
2020
£
1,461,050
1,397
3,626
56,034
1,522,107		 2019
£
64,627,760
-
(31,836,838)
8,281,846
41,072,768
28,190,511
69,263,279
60,103,145
2019
£
41,263,279
-
28,000,000
69,263,279
2019
£
15,203
15,203
2019
£
1,449,000
-
3,694
68,133
1,520,827

22

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

10.
CREDITORS: amounts falling due after more than one year
2020
£
Grants payable(see note 12)
408,000
11.
ANALYSIS OF ASSETS BETWEEN FUNDS
2020
Fixed assets
£
Investments
£
Other assets &
liabilities
£
Expendable endowment
2,120,234
73,005,073
(1,358,956)
Unrestricted income fund
-
-
-
2,120,234
73,005,073
(1,358,956)
2019
Fixed assets
£
Investments
£
Other assets &
liabilities
£
Expendable endowment
2,153,527
69,263,279
689,735
Unrestricted income fund
-
-
-
2,153,527
69,263,279
689,735		 2019
£
582,000
Total
£
73,766,351
-
73,766,351
Total
£
72,106,541
-
72,106,541

12. GRANTS

The Trustees consider that grant making is the Foundation’s sole charitable activity. The following is an analysis of the movement on grants account:

Obligations at 1 January 2020
Payable within one year
Payable more than one year
Approvals in year
Small grants paid in year
Grant returned
Trustee grants paid
Grants charged in year
Payments in year
Obligation at 31 December 2020
Payable within one year
Payable more than one year		 2020
£
1,449,000
582,000
2,031,000
1,687,250
254,136
-
42,280
1,983,666
2,145,616
1,869,050
1,461,050
408,000
______
1,869,050
____		 2019
£
1,271,500
646,500
1,918,000
1,992,000
249,325
(2,846)
82,719
2,321,198
2,208,198
2,031,000
1,449,000
582,000
______
2,031,000
___

23

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

13. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Income
Income from investments
Total income and endowments
Expenditure
Costs of raising funds
- Investment management costs
Charitable activities
- Grant making
- Grant related support costs
Cost of grant making
Total expenditure
Net operating deficit
Net gains on investments
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Income Fund
£
5,319
5,319
-
(2,321,198)
(353,600)
(2,674,798)
(2,674,798)
(2,669,479)
-
(2,669,479)
2,669,479
-
-
-		 Expendable
Endowment
£
-
-
(422,046)
-
-
-
(422,046)
(422,046)
9,628,321
9,206,275
(2,669,479)
6,536,796
65,569,745
72,106,541
(2,321,198)
(353,600)
(2,674,798)
(3,096,844)
(3,091,525)
9,628,321
6,536,796
-
6,536,796
65,569,745
72,106,541

14. RELATED PARTY TRANSACTIONS

There are no related party transactions in the report period which require disclosure.

24

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

SOCIAL & CRIMINAL JUSTICE

Action Mental Health AMH Campus Key 5 Project £23,000
Amber Two bed spaces with support for four ex-offenders in Farm
Place, Surrey		 £24,000
Anawim Women
Working Together		 Prison In-reach Caseworker £25,000
Bede House
Association		 Freedom programmes and casework support as part of
Bede's Starfish Domestic Violence Project		 £24,000
Bethany Christian Trust Connect to Community £20,000
Big House Open House Project (OHP) £25,000
Bounce Back Prison and community based intervention to help young
offenders gain employment in the construction industry		 £18,000
Brandon Centre Developing a 'manual' for Systemic Integrative Treatment
(SIT) and providing training to therapists		 £16,500
Burnley FC in the
Community		 "It's Your Turf" youth violence mentoring programme £25,000
Burntwood Pathway
Project		 Salary of a Risk Reduction Worker £20,000
Chance UK Child mentoring services for primary school children in
Lambeth who are excluded or at risk of exclusion		 £25,000
Charnwood Twenty
Twenty		 Love4Life Project - expansion of a girls specific support
service		 £22,000
Circles South East Circles for young people displaying harmful sexual behaviour £25,000
City Gateway Bright Starts programme for pre-school children and their
families		 £25,000
Dallaglio RugbyWorks Delivery of the Rugby Works programme in two Alternative
Provision sites in London		 £25,000
Domestic Abuse Safety
Unit		 Flintshire Crisis Intervention Service £25,000
Early Years Scotland Prison based programme for children affected by parental
imprisonment		 £25,000
Edinburgh Women's Aid Working Together - an employability project for women
affected by domestic abuse		 £20,000
Elizabeth Fry Approved
Premises for Women		 Housing and Link Worker £24,000
Empire Fighting Chance Programme of non-contact boxing and tailored support for
vulnerable young people		 £24,000
Families Outside Salary of a Regional Family Support Coordinator in
Lanarkshire		 £20,500
Grit East London Community Programme £25,000
Her Centre Salary of an Independent Domestic Violence Advocate £25,000
HMDT Music One Spirit rehabilitation programme for young offenders £20,000
Hope into Action Next Steps Cambridge £25,000
Leap Confronting
Conflict		 Improving Prospects - training and personal development for
young people		 £20,000
Lincolnshire Action
Trust		 The Departure Lounge at HMP Lincoln £20,000
London Tigers 'Tigers out of Trouble' - early intervention youth work ay
Spikes Bridge		 £25,000
Manchester Youth Zone Salary of a Family Key Worker £20,000
Mentoring Plus A mentoring programme for at risk and disadvantaged young
people		 £15,000
Nehemiah Project Salary of a Supported Housing Worker £25,000
New Horizon Youth
Centre		 Youth Outreach Project £20,000
Oarsome Chance
Foundation		 Oarsome Chance Post-16 education and training £25,000

25

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

Open Road Community Liaison Worker for a new Inside Out Project at
HM YOI Cookham Wood		 £22,500
Prison Advice & Care
Trust (Pact)		 Salary of a National Volunteering Co-ordinator £25,000
Phoenix Domestic
Abuse Services		 Salary for a part-time Victim Safety Worker £23,000
Power2 Teens and Toddlers and Young Leaders Programme £25,000
Prisoners Abroad Resettlement support for young British citizens returning from
a prison sentence overseas		 £10,000
Reducing the Risk of
Domestic Abuse		 Independent Domestic Violence Adviser (IDVA) for
Oxfordshire's Specialist Domestic Violence Court (SDVC)		 £20,000
Refugee Council Trafficked children project £25,000
Respond Forensic service supporting adults with learning disabilities
including autism who are at risk of offending		 £25,000
Resurgo Trust Salary of a Graduate Coach at Kennington Spear Centre £25,000
RFEA - The Forces
Employment Charity		 Project Nova Co-ordinator providing early intervention
support to veterans involved with the criminal justice system
in Greater Manchester		 £25,000
Saltbox Salary of a Family & Service Coordinator for the Restart
programme		 £25,000
Save the Family Salary of a'Family Friend' £10,000
School-Home Support SHS Practitioner at Olive Alternative Provision Academy in
Thurrock		 £20,000
Shannon Trust Continuation of reading programmes in prisons £25,000
Signhealth Children and Family Support Worker supporting deaf victims
of abuse		 £20,000
Southside Family
Project		 Salary of a Family Support Worker £25,000
Switchback Mentoring and training programme inside prison and in the
community		 £25,000
Tayside Council on
Alcohol		 Beyond Mentoring - a service for women who have been
involved in the criminal justice system		 £20,000
ThinkForward Early intervention coaching programme for young people at
LEAP unit in Tower Hamlets		 £25,000
Trailblazers Through the gate mentoring of young offenders at HMP
Brinsford		 £20,000
Trelya Skylar Transition Project £21,000
Unlocking Potential Schools programme £20,000
West London Zone Two-year targeted intervention programme for vulnerable
children in West London		 £25,000
Whitechapel Centre New Beginnings Programme £25,000
Why Me? Development of Restorative Justice within Youth Offending
Teams		 £25,000
Wigtownshire Women's
Aid		 Support for young victims of domestic abuse £22,000
Women in Prison Diversion Support Key Worker for WJI Project based at the
Women's Support Centre in Woking		 £25,000
Women's Centre
Cornwall		 Open Volunteer Peer Mentoring Project £20,000
Women's Health
Matters		 Inside Out Parenting Programme £24,500
Working Chance Salary of Head of Recruitment, Training and Support £25,000
Working Rite 'Pathfinder' mentored work placement programme for young
people in Glasgow		 £20,000
YMCA East Surrey 'Street Talk' -outreach youth work programme £25,000
Young People First Salary of Support Workers for the Care-Leavers Programme £25,000
TOTAL £1,489,000

26

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

HERITAGE & CONSERVATION

Coastal Forces Heritage
Trust		 New Coastal Forces Museum at Gosport £10,000
Lincolnshire Bomber
Command Memorial
Trust		 Digital online archive project £20,000
London Transport
Museum		 Redevelopment of London's Transport at War Gallery £27,000
Museums Sheffield Sheffield's Ancient Egyptian Collection £20,000
Railway Paths Restoration and re-opening of Bennerley Viaduct £30,000
Royal Horticultural
Society		 New library suite at the National Centre for Horticultural
Science and Learning in Wisley		 £25,000
Royal Museums
Greenwich		 Conservation of the painting 'A Royal Visit to the Fleet in the
Thames Estuary'		 £25,000
We the Curious Project What If £25,000
TOTAL £182,000

OVERSEAS

Busoga Trust Continuation of water rehabilitation programme in Busoga,
Uganda		 £12,000
Chase Africa Family planning and primary healthcare outreach in Nakuru
County, Kenya		 £15,000
Cress UK Agriculture and Savings Groups in Mijale Refugee Settlement
in Northern Uganda		 £10,500
East African
Playgrounds		 Apprenticeship programme for street-connected young
people in Jinja, Uganda		 £15,000
EdUKaid WASH Project in five community maintained schools in
Mtwara, Tanzania		 £14,600
Excellent Development Sand dam construction and support to learn climate-smart
agricultural techniques in Ukambani, Kenya		 £15,000
Just a Drop Food and water security project in Kitui county, Kenya £15,000
Mondo Challenge
Foundation		 Training in agriculture and livestock keeping and small
business management for HIV women in Tanzania		 £11,400
Pump Aid Investing in Future Generations - a pre-school nursery and
community WASH and nutrition programme in Malawi		 £14,700
Send a Cow The Living with Wildlife Project (2020-2023) Uganda £25,000
Team Kenya Sustainability and Economic Empowerment Project in
Ndhiwa, Western Kenya		 £15,000
Theatre for a Change Mobile Health Clinic project to provide sexual and
reproductive health services to 500 marginalised girls in
Lilongwe, Malawi		 £15,000
TOTAL £178,200

SMALL GRANTS

Age Concern
Chesterfield and District		 Telephone befriending service £4,000
Age Concern New
Forest		 Good Neighbours befriending project £5,000
Age UK Mid Devon Befriending services £3,000
Arts 4 Dementia A4D Arts Programme £5,000
Audlem & District
Community Action		 Services for older people £3,000
Azalea Build and Thrive projects £7,000

27

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

Bailiwick of Guernsey
Victim Support &
Witness Service		 Staff and volunteer training £3,900
Beyond the Streets 'Beyond Support' - remote support service for women
experiencing sexual exploitation		 £7,000
Birchall Trust Therapeutic counselling sessions for those affected by rape,
sexual abuse and sexual exploitation		 £7,000
Birth Companions Consolidating and developing services for pregnant women
and new mothers at HMP Foston Hall		 £7,000
Caraway Virtual Holidays @ Home for older people £3,000
Carshalton Beeches
Baptist Church		 Holiday at Home project for older people £1,000
Cotswold Friends Befriending Service £4,000
Crossroads (Barnsley) Drop-in support sessions for carers £3,500
Culcheth Methodist
Church		 Support for older people £3,000
Denis Law Legacy Trust Stronger Families Inside Out project £3,000
Domestic Abuse
Volunteer Support
Services		 Extended support for domestic abuse victims with complex
needs		 £5,000
Eden-Rose Coppice
Trust		 Greenhouse for the gardening and personal growth for the
aged project		 £3,800
Engage With Age People Addressing Loneliness project for older people £3,500
Give a Book Prison Family Reading Initiatives £3,000
Golden-Oldies Online singing sessions for older people £3,000
Hambleton &
Richmondshire Carers
Centre		 Support for dementia carers £4,000
Hastings and Rother
Mediation Service		 Training and continuing professional development of
volunteer mediators		 £3,000
Helpful Bureau Practical services for older people £5,000
Kyra Women's Project Salary of a Coordinator to deliver and develop support for
women involved in the criminal justice system		 £6,500
Light of the World
Community Centre		 Services for older people £3,000
Lincoln Courts Youth
and Community
Association		 Lunch club and activities for older people £3,000
Link Visiting Scheme Link Express and Friendship Groups for older people £5,000
Long Sutton's Men's
Shed		 Men's Shed expansion project £7,000
Mind Active Social inclusion activity days for older people £3,000
Moor Allerton Elderly
Care		 Services for older people £4,000
Older Citizens
Advocacy York		 Benefits advocacy for older people £5,500
Ormlie Community
Association		 Silver Citizens programme £3,000
PCC of All Hallows
Bromley-by-Bow		 'Early Help Matters' family support project £7,000
Penzance & West
Penwith Old People's
Welfare Trust		 Additional cleaning and transport costs for Pengarth day
centre		 £6,000
People Know How Reconnect befriending service for older people £3,000
Quetzal Recruitment and training of volunteer counsellors £5,000
Reminiscence Learning Activities@Home DVDs for older people with dementia £3,000
Saje Scotland Courses for women and young people affected by domestic
abuse		 £4,000
Sandwell African
Women Association		 Supporting elderly refugee women with dementia £3,000

28

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

Seahouses
Development Trust		 Continuation and expansion of services for older people £3,000
Sixty-One MentorMe programme £5,000
Southbourne & District
Age Concern		 Replacement doors and carpets for the day centre £2,000
Southmead Project Nexus counselling service £7,000
Startuponline Breaking the Cycle expansion £7,000
Straight Talking Peer
Education		 Expanding service that employs teenage parents to deliver
sessions in schools		 £7,000
Streets of Growth INSPIRE Employability Tutor to support young women at risk
of exploitation		 £6,636
Surviving Economic
Abuse		 Debt and Benefits Specialist supporting women experiencing
coerced debt in the context of domestic abuse		 £7,000
Thanet Community
Development Trust		 Thanet seniors social clubs and life skills courses £5,000
Trussell Trust Food Bank Grant Fund £5,000
Voices and Choices Volunteer support for older people £2,800
Volunteer Action
Orkney		 Connect Project - early intervention support for vulnerable
young adults		 £7,000
Westminster Arts Creative Befrienders for older people with dementia £3,000
Wilton's Music Hall Cost related to the re-opening of Wilton's Music Hall in
January 2021		 £5,000
Women and Families
Resource Centre		 Domestic violence counselling support £6,000
Zink Project RRISE (Recovery, Rehabilitation, Inclusion, Employment)
project		 £5,000
TOTAL £254,136

MISCELLANEOUS

Amber £1,000
Amber Trust £500
Atlantic Salmon Trust £1,500
Aylesbury Foodbank £1,000
Bucks Association for the Care of Offenders (BACO) £1,000
Cardiac Risk in the Young (CRY) £1,000
Children on the Edge £1,000
CRISIS London £500
David Rattray Memorial Trust £500
Ebbesbourne Wake PCC £1,000
Emmaus UK £500
Grow Limited £5,000
Haller Foundation £1,000
Marie Curie £1,000
National Autistic Society £500
PACE Centre £1,000
PACT-North Wales Police and Community Trust £1,500
Raise Your Hands £1,000
Royal Welsh Agricultural Society Powys £1,000
Salvation Army £500
Spinal Injuries Association £500
St. Cuthbert's Centre Earls Court £500
St. Richard's Hospice £7,280
Supporting Wounded Veterans £500
Thames Valley Air Ambulance £1,000
The Compassionate Friends (TCF) £2,000
The Garden Museum £1,000
The Royal British Legion £3,000
Trussell Trust £1,000

29

THE CHARLES HAYWARD FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

Tusk Trust £1,000
Welsh Air Ambulance £1,000
West Barnes Singers £500
Young Minds £1,000
TOTAL £42,280
TOTAL GRANTS PAID £2,145,616

30