2020-12-31-accounts

Reports
Reference and administrative	details ofthe
charity, its trustees and advisers
Trustees' report
Independent auditor's report		25
Financial Statements
Statement offinancial activities		29
Balance sheet		30
Statement ofcash flows		31
Principal accounting policies		32
Notes to the financial statements		36

		Trustees	Trustees	Joy Browne
				Msgr Vladimir	Felzmann
				John Studzinski		CBE
	Company	Secretary		Joy Browne
	Managing	Director		Harriet Capaldi
	Registered		office	130Wood Street
				London
				EC2V 6DL
	Administrative		oNce	PO Box72511
				London
				SW3 9DZ
	Telephone			020 38448658
			E mail	admin@genesisfoundation.			org.uk
		Website		www. genesisfoundation.			org.uk
Company	registration	number		04136427(England and			Wales)
Charity	registration	number		1084555
			Auditor	Buzzacott LLP
				130Wood Street
				london
				EC2V 6DL
		Bankers		HSBC Private	Bank (UK) Limited
				78StJames's	Street
				London
				SW1A 1JB
		Solicitors		Charles Russell		Speechlys
				5 Fleet Place
				London
				EC4M 7RD

INANCIAL REPORT	FOR THE	YEA	R (cont	inued)
					2020	2019
					Total	Total
					f	f
Arts projects
.Almeida Theatre					43,000	86,000
.Cathedral Music Trust					10,000
.Nabonal Theatre					75,000	50,000
.Royal College ofArt						400,000
.The Sixteen - Genesis	Sixteen				155,000	153,000
.The Sixteen —Royal Academy Concert						16,200
.Young VicTheatre —Genesis Directors			Project		78,750	155,000
					361,750	844,000
Scholarships and grants
.Create London						15,000
.Genesis Prize					25,000
.London Academy ofMusic and Dramatic			Art			25,000
.Other grants less than	610,000				25,000
					50,000	40,000
Covid-19 grants					100,000
Cancelled or returned	grants				(400,750)
Commissions and events
. Music commissions					17,500	59,650
.Genesis Christmas Film					8,624
.Lord Mayor Talks					65,856
.MacMt5an Symphony	No. 5 —The	Sixteen				91,460
.MacMgan Symphony	No, 5Events (Edinburgh			and London)		225,285
.Royal Academy ofArts Bi8Viola I		Michelangelo		Exhibition		125,611
. The Sixteen —Royal Academy ofArts Concert						16,200
.Christmas Carol Event						1,200
					91,980	503,206
Artistic collaboration,	donations	and communications			152,293	145,898
Supportcosts					63,358	68,217
Total					418,361	1,601,321
					Genesis Foundation 21

						Unrestricted	funds
						Total	Total
						2020	2019
					Notes	5	5
Income and expenditure
Income from:
Donations and	legacies				1	330,178	390,261
Total income						330,178	390,261
Expenditure on:
Charitable activities
.Arts projects					2	136,923	139,175
.Scholarships					2	10,533	10,706
.Commissions	and events				2	137,675	294,207
.Other donabons					2	5,000
Total expenditure						290,131	444,088
Itet Income (expenditure)		and net movement		in funds	7	40,047	(53,827)
Reconciliation	offunds:
Fund balances	brought	forward at 1 January				(42,789)	11,038
Fund balances	carried forward		at 31 December			(2,742)	(42,789)

						2020	2019
					Notes	E	E
Cash flow from	operating	activities:
Net cash provided	by operating		activities		A	22,397	2,548
Change in cash	and cash	equivalents		in the year		22,397	2,548
Cash and cash equivalents		at	1 January		8	5,694	3,146
Cash and cash equivalents		at	31 December		B	28,091	5,694

A	Reconciliation of	net expenditure	net expenditure	net expenditure	income	to net cash flow	from operating	activities
							2020	2019
							E	E
	Net income (expenditure)		(as per the		statement	offinancial
	activities)						40,047	(53,827)
	Adjustments for:
	(Inuease) decrease	in debtors					(5,705)	14,276
	(Decrease) increase	in creditors					(11,945)	42,099
	Net cash provided	by operating		activities			22,397	2,548
B	Analysis of net debt
							2020	2019
							E	E
	Cash at bank and in	hand					28,091	5,694
	Total cash and cash equivalents						28,091	5,694

Donation	s and legacies
			Unrestricted	funds
			Total	Total
			2020	2019
			E	E
Donations	from:
. Founder	trustee (see note 14) —donations	in kind	77,207	82,792
.Genesis	America (UK) Limited (see note	14)	230,390	279,422
.Other donations			22,581	28,047
Total			330,178	390,261

Charitable	activities
			Unrestricted	funds
			Artist	Support	2020
		Events	Partnership	Costs	Total
		(nots 3) E	(nots 4) E	(nots 5) E	funds 6
Arts pro)acts			95,740	41,183	136,923
Scholarships			7.365	3,168	10,533
Commissions	snd events	74.480	44,188	19,007	137,675
Other donations		5,000			5,000
2020 Total funds		79,480	147,293	63,358	290,131
			Unrsslriclsd	lunds
			Arlisi	Support	2019
		Evsnls	Partnership	Ccsls	Tofsl
		(cols 3) t	fools 4) E	(nels 5) t	funds t
Arfs fsojscrs			94,834	44,341	139,175
Scholarships			6,875	3,411	10,286
Commissions	snd events	229,973	44,189	20,465	294,207
2019 Total lvnds		229,973	145,898	68,217	444,088

						Unrestricted	funds
						Total	Total
						2020	2019
						6
Commissions		and	events
.MacMillan	Symphony			No. 5			225,560
.Royal Academy of			Arts: Bill Viola IMichelangelo		exhibition		3,213
.Christmas	Carol concert						1,200
.Lord Mayor		Talks				65,856
.Genesis Christmas			Film			8,624
						74,480	229,973
Other donations
Other						5,000
						5,000
Total						79,480	229,973

Artist partnership
			Unrestricted	funds
			Total	Total
			2020	2019
Artistic partnership,	project and development	work	6	6
.Genesis Kickstart project costs			22,046
.Website development			20,839	29,945
.Consultancy			39,048	49,547
.Public relabons			65,360	66,406
			147,293	145,898

			Unrestricted	funds
			Total	Total
			2020	2019
Partnership	costs are allocated across the activities as follows:		6	L'
Arts projects		65%	95,740	94,834
Scholarships		5%	7,365	7,295
Commissions	and events	30%	44,188	43,769
			147,293	145,898

Support co	sts
			Unrestricted	funds
			Total	Total
			2020	2019
			E	E
Administration			49,403	48.471
Office equipment		and software	1,268	887
Bank charges	and	interest	49	72
Travel and accommodation			889	4,203
Other			180	1,318
Governance	(note	6)	11,569	13,266
Total			63,358	68,217

			Unrestricted	funds
			Total	Total
			2020	2019
Support costs	are allocated across the ackvities as follows:		E	E
Arts projects		65%	41,183	44,341
Scholarships		5%	3,168	3,411
Commissions	and events	30%	19,007	20,465
			63,358	68,217

		Unrestricted	funds
		Total	Total
		2020	2019
		E	E
Professional	fees	9,726	11,860
Insurance		1,843	1,406
		11,569	13,266

	Unrestricted	funds
	Total	Total
	2020	2019
	E	E
Staff costs (see note 8)	77,207	76,156
Auditors remuneration
.Statutory audit services	8,650	9,520
.Other services —current year	4,500	3,732
.Other services —prior year	996	1,590

Staff costs and remuneration of key mana Staff costs during the year were as follows:	gement personnel
	Unrestricted	funds
	Total	Total
	2020	2019
	E	E
Wages and salaries	67,750	66,917
Social security costs	8,143	8,051
Pension costs	1,314	1,188
	77,207	76,156

Tangible fixed assets
	Computer
	equipment
	E
Cost
At 1 January 2020 and 31 December 2020	3,057
Depreciation
At 1 January 2020	3,057
Charge for period
At 31 December 2020	3,057
Net book values
At 31 December 2020
At 31 December 2019

12	Debtors
		2020	2019
		E	E
	Other debtors and prepayments	9,338	3,633

Creditors: amounts falling due within o	ne year
	2020	2019
	6	E
Accruais	31,614	19,320
Trade creditors	8,139	32,782
Other creditors	418	14
	40,171	52,116