THE GRAwf FOUNDATION ANNUAL BEPORT AND Accouwrs FOR THE YEAR ENDED 31 DECEMBER 2020 ## **`THE GRANT FOUNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`Page`** ``` 1 - 3 Trustees' Annual Report 4 Independent Examiner's Report 5 Statement of Financial Activities 6 Balance Sheet 7 - 8 Notes to the Accounts ``` ## **`THE GRANT FOUNDATION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020`** ``` The Trustees present their report, together with the accounts of the Charity (Trust), for the year ended 31 December 2020. ``` ## **`REFERENCE AND ADMINISTRATIVE INFORMATION`** ``` Charity registration number:1084915 Registered office and operational address:Boughton Business Park, Bell Lane Little Chalfont, Bucks, HP6 6GL ``` ``` The Trustees who served during the year are as follows:- ``` ``` G P Grant Mrs C A Grant D P Grant S J Grant Mrs A L Warner-McLoughlin A S Grant ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` The Trust was set up by Trust Deed dated 11 September 2000. The Trust is registered with the Charity Commission under No 1084915 ``` ## **`Recruitment and appointment of trustees`** ``` The Trustees seek to ensure that the needs of this group are appropriately reflected through the diversity of the Trustee body. New Trustees may be appointed by the Settlors during their lifetime, or by the survivor of them during his or her lifetime. ``` ``` Page 1 ``` ## **`THE GRANT FOUNDATION TRUSTEES ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`Risk management`** ``` The Trustees have examined the major risks that the Trust faces and confirm that systems have been established so that the necessary steps can be taken to lessen these risks. ``` ## **`Statement of Trustees' responsibilities`** ``` The charity's Trustees are responsible for the preparation of financial statements for each financial year which give a true and fair view of the Trust's incoming resources and application of resources during the year and of its state of affairs at the end of the year. In preparing those financial statements the Trustees should: ``` - `select suitable accounting policies and then apply them consistently` - `make judgements and estimates that are reasonable and prudent` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation` ``` The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations. ``` ## **`OBJECTIVES AND ACTIVITIES`** ``` It is the policy of the Trust to make grants to institutions and individuals in accordance with the objects of the Trust for charitable causes from funds available for distribution. ``` ``` The objects for which the charitable Trust was established are to: -Apply funds for such charitable purposes that the Trustees may from time to time select. ``` - `The advancement of the Christian faith in the UK or overseas.` ``` - The advancement of education of children and young people, assisting with the provision of help to socially disadvantaged children and young people and assisting children and young people in financial need to receive support and training. ``` ``` Page 2 ``` ## **`THE GRANT FOUNDATION TRUSTEES ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`ACHIEVEMENTS AND PERFORMANCE`** ``` The Trust continues to provide support for those in need, in accordance with its objects which are considered to be for the public benefit and will continue to do so in the future. The Trustees administer the funds directly. ``` ## **`FINANCIAL REVIEW`** ## **`Principal funding sources`** ``` The majority of the funds are received from two of the Trustees. ``` ## **`Investment policy`** ``` The Trustees have power to deposit or invest funds in any lawful manner as they shall in their absolute discretion think fit and having regard to the suitability of the investments, the need for diversification and having taken advice from a financial expert. ``` ## **`Reserves policy`** ``` The Trustees have established a policy whereby the unrestricted funds are not committed and are sufficient to meet any ongoing donations of which the Trustees are aware and to enable the trust to achieve its objective in the following year. The Trustees review the reserves policy and the level of reserves from time to time. The level of reserves held for the current period is £285 (2019: £11,530). The Trustees consider that this level of reserves is appropriate and not excessive. ``` ## **`Public Benefit`** ``` The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. ``` ## **`FOR AND BEHALF OF THE TRUSTEES`** ``` ………………………………………………………… Mr G P GrantMrs C A Grant 23 June 2021 ``` ``` Page 3 ``` ## **`THE GRANT FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`** ``` I report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 5 to 8. ``` ``` This report is made solely to the trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed. ``` ## **`Respective responsibilities of trustees and examiner`** ``` The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is needed. ``` ``` It is my responsibility to ``` - `examine the accounts in accordance with section 145 of the Act;` - `to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act); and` - `to state whether particular matters have come to my attention.` ## **`Basis of independent examiner's report`** ``` My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts. ``` ## **`Independent examiner's statement`** ``` In connection with my examination, no matter has come to my attention: ``` - `(1) which gives me reasonable cause to believe that, in any material respect, the requirements:` - `to keep accounting records in accordance with s130 of the Act; and` - `to prepare accounts which accord with the accounting records and` - `comply with the accounting requirements of the Act` ``` have not been met; or ``` - `(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.` ``` C D Nash ……… 2021 Chartered Accountant 11 Longwood Lane Amersham Bucks HP7 9EN Page 4 ``` ## **`THE GRANT FOUNDATION`** ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020`** |**`Notes`**
**`INCOMING RESOURCES`**
**`Voluntary income`**
`Gift aid giving donations`
`Tax reclaimed`
`Other donations`
**`TOTAL INCOMING RESOURCES`**
**`RESOURCES EXPENDED`**
**`Charitable activities`**
`Grants paid/payable`
`5`
**`Governance Costs`**
`Bank charges`
`Accountancy fees`
**`TOTAL RESOURCES EXPENDED`**
**`NET (OUTGOING)/INCOMING RESOURCES`**
**`FOR THE YEAR`**
**`BALANCE BROUGHT FORWARD`**
**`AT 1 JANUARY 2020`**
**`BALANCE CARRIED FORWARD`**
**`AT 31 DECEMBER 2020`**|**`£`**
**`£`**
**`£`**
**`£`**
`-`
`-`
`-`
`-`
`30,000`
`590,000`
`30,000`
`590,000`
`40,633`
`614,502`
`12`
`12`
`600`
`1,086`
`41,245`
`615,600`
`(11,245)`
`(25,600)`
`11,530`
`37,130`
`£285`
`£11,530`
**`2020`**
**`2019`**|**`£`**
**`£`**
**`£`**
**`£`**
`-`
`-`
`-`
`-`
`30,000`
`590,000`
`30,000`
`590,000`
`40,633`
`614,502`
`12`
`12`
`600`
`1,086`
`41,245`
`615,600`
`(11,245)`
`(25,600)`
`11,530`
`37,130`
`£285`
`£11,530`
**`2020`**
**`2019`**| |---|---|---| |||`590,000`
`615,600`| |||| |||`(25,600)`
`37,130`| |||`£11,530`| ``` Page 5 ``` ## **`THE GRANT FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2020`** |**`CURRENT ASSETS`**
`Debtors`
`Community bank account`
**`LESS: LIABILITIES: Amounts falling due`**
**`within one year`**
`Grants Payable/Pledged`
`Accountancy Fees`
**`NET CURRENT ASSETS`**
**`NET ASSETS`**
`Financed by:`
**`UNRESTRICTED GENERAL FUNDS`**|**`£`**
**`£`**
`30,000`
`13,885`
`43,885`
`43,000`
`600`
`43,600`
`285`
`£285`
`£285`
**`2020`**|**`£`**
**`£`**
`30,000`
`13,885`
`43,885`
`43,000`
`600`
`43,600`
`285`
`£285`
`£285`
**`2020`**|**`£`**
**`£`**
`50,000`
`29,430`
`79,430`
`67,000`
`900`
`67,900`
`11,530`
`£11,530`
`£11,530`
**`2019`**|**`£`**
**`£`**
`50,000`
`29,430`
`79,430`
`67,000`
`900`
`67,900`
`11,530`
`£11,530`
`£11,530`
**`2019`**| |---|---|---|---|---| ||`43,885`||`79,430`|| ||`43,000`
`600`||`67,000`
`900`|| ||`43,600`||`67,900`|| |||||| |||`£285`||`£11,530`| |||`£285`||`£11,530`| ``` Approved by the Board of Trustees on 23 June 2021 and signed on its behalf by: ``` ``` ......................... Mr G P Grant ``` ``` ......................... Mrs C A Grant ``` ``` Page 6 ``` ## **`THE GRANT FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020`** 1. **`ACCOUNTING POLICIES`** ## a **`Basis of accounting`** ``` The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Charities SORP. ``` ## b **`Income and expenditure`** - i) `Income has been accounted for on the basis of cash received, except for tax recoverable in respect of Gift Aid donations which is accounted for on an accruals basis.` - ii) `Restricted funds are accounted for separately in the financial statements - there were no restricted funds during the year.` - iii) `Expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered. Items directly attributable to the main objects of the trust are shown as charitable activities.` - c **`Tax status`** ``` The Trust is a registered charity and all the income has been agreed as being charitable and therefore no UK taxation is payable. ``` - d **`Grants`** ``` Grants to individuals and institutions are accounted for when paid, or when awarded (pledged), if that award creates a binding or constructive obligation on the charity. There is no legal obligation to honour any pledges. ``` ## e **`Funds accounting`** ``` Funds held by the charity are: ``` ``` Unrestricted general funds - these are funds which can be used in ``` ``` accordance with the charitable objectives at the discretion of the Trustees. ``` ``` Designated funds - these are funds set aside by the Trustees out of unrestricted general funds for specific purposes or projects. Restricted funds - these are funds which can only be used for particular purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ## 2. **`TRUSTEES EXPENSES`** ``` No Trustee received any remuneration or expenses in the financial period ended 31 December 2020 (2019: nil). ``` ## 3. **`CAPITAL COMMITMENTS`** ``` There were no capital commitments at 31 December 2020 (2019: None) ``` ## 4. **`CONTINGENT LIABILITIES`** ``` There were no contingent liabilities at 31 December 2020 (2019: None) ``` ``` Page 7 ``` ``` THE GRANT FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 ``` ## 5. **`ANALYSIS OF GRANTS MADE`** ## **`Grants to Institutions:`** |**`Grants to Institutions:`**||| |---|---|---| |**`Name of grantee`**
**`Purpose/project`**
**`Christian Aid`**
`Lebanon Crisis`
`Hurricane Iota`
`Syria Winterisation`
`Other Institutions (grants of less than £5,000)`
**`Grants to Individuals:`**
`Total grants made`|**`Separate`**
**`Grants`**
**`£`**
`5,000`
`2,000`
`1,000`|**`Total`**
**`Number of`**
**`£`**
**`grants`**
`8,000`
`3`
`32,533`
`35`| |||| |||`40,533`
`38`
`100`
`1`| |||`£40,633`
`39`| ``` Page 8 ```