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|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||||
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|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||
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|||||||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|
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|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|
##