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REGISTERED CHARITY NUMBER: 1094073
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Report of the Trustees and
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Unaudited Financial Statements for the Year Ended 31 October 2020
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for
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The Kay Mason Foundation
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Moore
Chartered Accountants
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30 Gay Street
Bath
BA1 2PA
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The Kay Mason Foundation
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Contents of the Financial Statements
for the Year Ended 31 October 2020
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||`Page`|
|---|---|
|`Report of the Trustees`|`1 to 2`|
|`Independent Examiner's Report`|`3`|
|`Statement of Financial Activities`|`4`|
|`Balance Sheet`|`5`|
|`Notes to the Financial Statements`|`6 to 10`|
|`Detailed Statement of Financial Activities`|`11`|
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The Kay Mason Foundation
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Report of the Trustees
for the Year Ended 31 October 2020
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```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31October2020.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
the FinancialReportingStandardapplicablein the UK and Republicof Ireland(FRS 102)(effective1 January
2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
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The principal activities and objects of the foundation are as follows:
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- The advancementof the academic,technicaland physicaleducationof young personsup to the age of 25,
or such other age as the Trustees may from time to time determine.
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- The reliefof povertyhardshipand distressof youngpersonsup to the age of 25 (or such otherage as the
Trusteesmay,fromtimetotime,determine)whoareinneedofsuchreliefbyreasonoftheirsocial and
economic situation or as a result of of local, national or international disaster or for any other reason.
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-ForsuchotherpurposeswhichareexclusivelycharitablewithinthelawofEnglandandWalesas the
Trustees shall decide.
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Fundsraisedby TheKayMasonFoundationin theUK areprimarilytransferredtotheassociatedcharity in
SouthAfrica(TheKayMasonFoundationSouthAfricaTrust(KMFSAT)).TheobjectsofKMFSAT (as
containedinitsTrustDeed)areprimarilythesameasthoseofTheKayMasonFoundationand Richard
Mason, the Chairman of the board of Trustees of the Kay Mason Foundation is also a Trustee of KMFSAT.
```
## **`FINANCIAL REVIEW`**
## **`Financial position`**
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Incomefromdonationsandgrantsof£80,853washigherthanlastyear(£61,537).TheTrustees believe
thata satisfactorylevelofongoingdonationswillcontinuetobereceived.Grantspayableduringthe year
of £62,334 were paid directly to The Kay Mason Foundation South Africa Trust (2019 - £51,731).
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There was an overall net surplus for the year of £14,963 (2019 - £9,265).
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## **`Investment policy`**
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Currentlyalldonatedfundsarekeptin eitheroneorotheroftheFoundation'sbankaccounts.This allows
theFoundationtheflexibilitytopayfees,pocketmoney,donationsandotherexpenseswhen required.
OncetheTrusteesagreethattherearesufficientfundsavailabletotransferfromcashdepositinto longer
term investments, they will come to an agreement on a more detailed long-term investment policy.
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## **`Reserves policy`**
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It is the Foundation'sintentionto build up additionalreservesfor the charityto establisha solid foundation
for the Foundation's future.
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## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
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Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
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Page 1
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The Kay Mason Foundation
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## `Report of the Trustees`
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for the Year Ended 31 October 2020
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## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees`**
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TheTrusteesareresponsibleforadministrationandinvestmentpolicyoftheFoundation.Theboard of
Trustees consists of 5 members. The Foundation allows for the appointment of additional Trustees.
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## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`**
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1094073
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## **`Principal address`**
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PO Box 4893
Tygervalley
Cape Town
South Africa
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## **`Trustees`**
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C Freemantle (resigned 27.8.20)
R Mason
A Zintl
E Dimitriadis
C Gull
M Autotte (appointed 2.3.21)
H Dowding (appointed 27.8.20)
A Jobbins (appointed 27.8.20)
```
## **`Independent Examiner`**
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Moore
Chartered Accountants
30 Gay Street
Bath
BA1 2PA
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Approved by order of the board of trustees on 31 August 2021 and signed on its behalf by:
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M Autotte - Trustee
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Page 2
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## `Independent Examiner's Report to the Trustees of The Kay Mason Foundation`
## **`Independent examiner's report to the trustees of The Kay Mason Foundation`**
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IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheKayMasonFoundation (the
Trust) for the year ended 31 October 2020.
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## **`Responsibilities and basis of report`**
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AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
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I reportin respectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under section 145(5)(b) of the Act.
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## **`Independent examiner's statement`**
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Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
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`1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
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Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
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Robert Branch
FCA, MAAT
Moore
Chartered Accountants
30 Gay Street
Bath
BA1 2PA
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31 August 2021
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Page 3
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The Kay Mason Foundation
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## `Statement of Financial Activities`
## `for the Year Ended 31 October 2020`
||||||`31.10.20`|`31.10.19`|
|---|---|---|---|---|---|---|
|||`Unrestricted`|`Endowment`||`Total`|`Total`|
|||`fund`|`fund`||`funds`|`funds`|
||`Notes`|`£`|`£`||`£`|`£`|
|**`INCOME AND ENDOWMENTS FROM`**|||||||
|`Donations and legacies`||`80,853`||`-`|`80,853`|`61,537`|
|**`EXPENDITURE ON`**|||||||
|`Raising funds`||`2,906`||`-`|`2,906`|`241`|
|**`Charitable activities`**|||||||
|`Charitable activities`||`62,984`||`-`|`62,984`|`52,031`|
|**`Total`**||`65,890`||`-`|`65,890`|`52,272`|
|**`NET INCOME`**||`14,963`||`-`|`14,963`|`9,265`|
|**`RECONCILIATION OF FUNDS`**|||||||
|**`Total funds brought forward`**||`12,804`|`500`||`13,304`|`4,039`|
|**`TOTAL FUNDS CARRIED FORWARD`**||`27,767`|`500`||`28,267`|`13,304`|
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The notes form part of these financial statements
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Page 4
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The Kay Mason Foundation
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## `Balance Sheet`
## `31 October 2020`
||||||`31.10.20`|`31.10.19`|
|---|---|---|---|---|---|---|
|||`Unrestricted`|`Endowment`||`Total`|`Total`|
|||`fund`|`fund`||`funds`|`funds`|
||`Notes`|`£`|`£`||`£`|`£`|
|**`CURRENT ASSETS`**|||||||
|`Debtors`|`4`|`15,309`||`-`|`15,309`|`13,071`|
|`Cash at bank`||`13,058`|`500`||`13,558`|`833`|
|||`28,367`|`500`||`28,867`|`13,904`|
|**`CREDITORS`**|||||||
|`Amounts falling due within one year`|`5`|`(600)`||`-`|`(600)`|`(600)`|
|**`NET CURRENT ASSETS`**||`27,767`|`500`||`28,267`|`13,304`|
|**`TOTAL ASSETS LESS CURRENT LIABILITIES`**||`27,767`|`500`||`28,267`|`13,304`|
|**`NET ASSETS`**||`27,767`|`500`||`28,267`|`13,304`|
|**`FUNDS`**|`6`||||||
|`Unrestricted funds`|||||`27,767`|`12,804`|
|`Endowment funds`|||||`500`|`500`|
|**`TOTAL FUNDS`**|||||`28,267`|`13,304`|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
31 August 2021 and were signed on its behalf by:
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M Autotte - Trustee
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The notes form part of these financial statements
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Page 5
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The Kay Mason Foundation
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Notes to the Financial Statements
for the Year Ended 31 October 2020
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## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
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Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
have been prepared under the historical cost convention.
```
## **`Income`**
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Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
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## **`Expenditure`**
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Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
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```
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
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## **`Taxation`**
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The charity is exempt from tax on its charitable activities.
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## **`Fund accounting`**
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Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
Trustees.
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EndowmentfundsrepresentinitiallongtermfundingoftheFoundationandareexpendableat the
Trustees' discretion.
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Restricted funds are provided for specific purposes.
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## **`Foreign exchange`**
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Assets and liabilitiesin foreigncurrenciesare translatedinto sterlingat the rate of exchangeruling at
thebalancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingatthe rate
rulingonthedateofthetransaction.Exchangedifferencesaretakenintoaccountin arrivingat the
net movement in funds.
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continued...
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Page 6
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The Kay Mason Foundation
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Notes to the Financial Statements - continued
for the Year Ended 31 October 2020
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## **`2. TRUSTEES' REMUNERATION AND BENEFITS`**
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Therewere no trustees'remunerationor otherbenefitsfor the yearended 31 October2020nor for
the year ended 31 October 2019.
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## **`Trustees' expenses`**
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Duringthe year,one trusteereceivedreimbursementof expensestotalling£795(2019- no trustees
received reimbursement of expenses).
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## **`3.`**
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`Endowment`
`fund`
`fund`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`61,537`
`-`
**`EXPENDITURE ON`**
`Raising funds`
`241`
`-`
**`Charitable activities`**
`Charitable activities`
`52,031`
`-`
**`Total`**
`52,272`
`-`
**`NET INCOME`**
`9,265`
`-`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`3,539`
`500`
**`TOTAL FUNDS CARRIED FORWARD`**
`12,804`
`500`|`Total`
`funds`
`£`
`61,537`
`241`
`52,031`|
|---|---|
||`52,272`|
||`9,265`
`4,039`|
||`13,304`|
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continued...
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Page 7
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The Kay Mason Foundation
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## `Notes to the Financial Statements - continued`
## `for the Year Ended 31 October 2020`
|**`4.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other debtors`
`Tax`
**`5.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`6.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`Endowment funds`**
`Permanent Endowment Fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`31.10.20`
`31.10.19`
`£`
`£`
`73`
`-`
`15,236`
`13,071`
`15,309`
`13,071`
`31.10.20`
`31.10.19`
`£`
`£`
`600`
`600`
`Net`
`At`
`movement`
`At`
`1.11.19`
`in funds`
`31.10.20`
`£`
`£`
`£`
`12,804`
`14,963`
`27,767`
`500`
`-`
`500`
`13,304`
`14,963`
`28,267`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`80,853`
`(65,890)`
`14,963`
`80,853`
`(65,890)`
`14,963`|
|---|---|
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continued...
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Page 8
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The Kay Mason Foundation
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Notes to the Financial Statements - continued
for the Year Ended 31 October 2020
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## **`6. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`General fund`
**`Endowment funds`**
`Permanent Endowment Fund`
**`TOTAL FUNDS`**
`Comparative net movement in funds, included in the above ar`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`A current year 12 months and prior year 12 months combined`
**`Unrestricted funds`**
`General fund`
**`Endowment funds`**
`Permanent Endowment Fund`
**`TOTAL FUNDS`**|`Net`
`At`
`movement`
`At`
`1.11.18`
`in funds`
`31.10.19`
`£`
`£`
`£`
`3,539`
`9,265`
`12,804`
`500`
`-`
`500`
`4,039`
`9,265`
`13,304`
`e as follows:`
`Incoming`
`Resources`
`Movement`
`resources`
`expended`
`in funds`
`£`
`£`
`£`
`61,537`
`(52,272)`
`9,265`
`61,537`
`(52,272)`
`9,265`
`position is as follows:`
`Net`
`At`
`movement`
`At`
`1.11.18`
`in funds`
`31.10.20`
`£`
`£`
`£`
`3,539`
`24,228`
`27,767`
`500`
`-`
`500`
`4,039`
`24,228`
`28,267`|
|---|---|
```
continued...
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Page 9
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The Kay Mason Foundation
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Notes to the Financial Statements - continued
for the Year Ended 31 October 2020
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## **`6. MOVEMENT IN FUNDS - continued`**
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Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
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||`Incoming`|`Resources`|`Movement`|
|---|---|---|---|
||`resources`|`expended`|`in funds`|
||`£`|`£`|`£`|
|**`Unrestricted funds`**||||
|`General fund`|`142,390`|`(118,162)`|`24,228`|
|**`TOTAL FUNDS`**|`142,390`|`(118,162)`|`24,228`|
## **`7. RELATED PARTY DISCLOSURES`**
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DuringtheyeartheFoundationmadegrantsof£62,334(2019-£51,731)toTheKay Mason
Foundation South Africa Trust, an associated charity.
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Page 10
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The Kay Mason Foundation
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|`Detailed Statement of Financial Activities`|||
|---|---|---|
|`for the Year Ended 31 October 2020`|||
||`31.10.20`|`31.10.19`|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|`78,688`|`49,702`|
|`Gift aid`|`2,165`|`11,835`|
||`80,853`|`61,537`|
|**`Total incoming resources`**|`80,853`|`61,537`|
|**`EXPENDITURE`**|||
|**`Raising donations and legacies`**|||
|`Fundraising charges`|`180`|`241`|
|`Event costs`|`1,126`|`-`|
|`Card handling fees`|`1,600`|`-`|
||`2,906`|`241`|
|**`Charitable activities`**|||
|`Grants to institutions`|`62,334`|`51,731`|
|**`Support costs`**|||
|**`Governance costs`**|||
|`Accountancy fees`|`650`|`300`|
|`Total resources expended`|`65,890`|`52,272`|
|**`Net income`**|`14,963`|`9,265`|
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This page does not form part of the statutory financial statements
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Page 11
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