REGISTERED COMPANY IYUMBER: (14468139 (England and Wales) REGISTERED CEL4RITY Nu1￿BER. 1094935 Re￿rt rftbe Trn$t¢es #nd Financial State[￿ents for the Year Ended 31 March 2021 for HEREFORDSHIRE COMMUNITY FOUNDATION Haines Watts Wor¢¢ster Audit Limii&l First Floor Saggar House Princes DrÈve Wor¢es¢er WRI 2PG HEREFORDSHIRE co￿0{l￿ITy FOVNDATtON Contents of the Fith#ndal Statements for the year euded 31 March 2021 Page Referenet and Adrninistratlve Details Chairman's k¢wbrt Report of the Trustees Report of the Independent Auditor5 9 to 11 ststoment of Financial Activities 12 Balanc¢ Sheet 13 C45h Flow Ststement 14 f4ote$ to the Cash Flosv Statement 15 Notes to the Fthan¢ial Statements 16 to 33 Detailed Ststement of Flnallclal A¢tliryties 34 HEREFORDSHIRE COMMUNITY FOUNDATION Reference and Adminigtratlve Detttils for the year ended 31 March 2021 TRUSTEES F Myers MBE O Cooke B Davison K Hall G Hughes L Hughes A Lowrther P Spens S Wyt) REGISTERED OFFICE The Fred Bulmet Centre Wall Street Hereford HR4 9HP REGISTERED COMPANY NUMBER 04468139 {England and Wales) REGISTERED CHARtTY NiIMBER 1094935 Ai￿lTORs Haine5 Wait$ Worcester AudÈt Limit First Floor Sa8ggr House Pmces Drive WoTcester WRI 2PG CAF BaJJk Ltd 25 Kings Rill Avenue Kings Hill West Malillg Kent ME194JQ Pag¢ll HEREFORDSHIIiE CO￿￿mUr4[ry FOtJNDATION ChJlrman*$ Report for the year ended 31 March 2021 Last )rar was a remarkable year alld one that will be remembered for ￿arS to come. As the Covid-19 pandeniic spread acr05S thc globe, the UK went into lockdowi and everjthing changed for everyone. For many households it IV8s the toU￿¢st of times. Some charfties and community groups were forced to clos¢ their doors while others were able to adapt quickl}. and fiDd a different way to deliver s¢rvic&s. It was a time when commulliiie5 came together to aft the m05t Trulnerable. Hereford5hire C0mmL￿]ty Foundation was ptoud tts take active role in SUPPOFtitt8 ctsmtnunity action across the county. It was a challenging year but th¢ HCF team adapted effectively to remote working. They worked dilig￿tlY and tirelessly to ¢nsuFe funds were distnbuied quickly and to where support was n]ost t)eeded. l am delighted to report we awardcd 295 to indsviduals and community groups. A total of £567,124 wa5 distsibuted an increa￿ of IOQ/D on the prewous year. Grants ranged in size from £200 to £IO.000. In ttrnjs of grant-makiDg, It was the busiest p￿1(￿l in the history of HCF #nd l thank the trustees, staff and the organi$8tion5 we support for their commitmeiit to maku Heref(YdthiF¢ a pla6¢ whett ¢veryone has the opportu￿lty to thrive. HCF worked UKCF, tbe N'ationa] Enjcrgmcies Trust (￿T), the D¢partn)cnt foE Culture, Media and Sport (DCMS), BarclaJ$ and the Co-op to distribute £380,617 of Covid-rclat¢d emerg￿¢Y relief to charities 8JLd groups working a¢*os5 the couttry. The fim(ling wab used to support local food projects, digitigatson of seryices, PPE, food boxes, mental health sllppon, ￿oneY advice and mally other ￿ts1 Services to help those in need. During the year HCF saw an increased demand in support of households in fvel pov¢Tly. Many households experienced 8 drop in Income attd some faitiilies struggled to meet the addsiional fuel and food costs of home school. ID 5anuary 2021, HCF launched 8n appeal in the Hereford Tllne5 for OUT Surviving Wiotet progFartim¢ and we were abke io help 30 househol(ts ￿ hardship thryth a gt8nt of up to £300. Stom Christoph hit the county in January 2021 and resulted ill areas of the county ￿1￿9 flooded. HCF awarded grants of £2(Ki from our Flo(¥J Fulld to 24 hous¢holds badly affected by the flooding. The Fund was set up in 2020 in r¢5pon5¢ to Storni Dennis and last yeat attracted a fiuther £5,020 iti donatii)ns. We w¢re grate￿1 to re£cive a lega¢y of £50,000 frorn a l(Kal family wthich was splst between the Care Fund (for emergency relieD and the recently launched Mujral Health Fund. Additionally, a fijrther £50,000 was anort)llnously donated to th¢ Mental Health Fund. HCF ivtll look at strategies for the Mental Health Fulld and ernsuring it is designed to have the ￿tatest im￿1 across the county. HCF CODtinued to distribute wts fr(Im our other programmes. A$ in pre￿OuS years, we remain grateful for the ottiinued ￿ppOrt of the Iron Fund (wao wishes to remain anonyrnousl. For the last five ￿ar$. the Iroji Fund has be¢n our largest wt woyatt￿lle with its broad aims ulables us to Trwork flexibly aud quickly tts deliver support wh¢r¢ it is n105t nL*ld acr058 Her¢fordshir¢. HCF secures its fithding by settin¥ up personally named {or allonymou$ if preferred} local giTrTrttg funds on behalf of companics. Individuals and f3mlli￿. In thjs donor5 are able to support the tause5 or areas of theiF d)oice ai faT1¢5$ Cost and bureaucracy than ￿¢￿tillg their standalo￿¢ Charity. Creating a charithble fimd with HCF will allow you to put your donttjSX15 inio a Single fLthd and HCF will do all the work of vettins th"stributing the money and 5ecwing the valuable Gift Aid. We #re also able to offer our help in 5eiting up all appropriate govemattce structure to enable organisations with charitable motives to make early pro¥ression and securely manage and distribute fisnds with full accountability. It removes the need to negotiate the legal torm&litie5 of doing it tliemselves. This pioved to b¢ invaluable for the hugely su¢cessfvl taptops2Kids project during thc Covid 19 periods of lockdown. In order to wlltinue to expand the work we do we 8re aLw#ys seeking new donors. For ￿asSr1￿>tS Ornan1￿tions a snthll graE)t can make a huge difference and dOn[￿S can be asswed w'e aim to maxllnise the i]npact of ¢very pound donat¢d. We also offer to set up memorial fund5 which be a wa). of providing some coThfort at times of grief, •JabliDg the emory of the deceased to live on and tts provide ongoing purpose to a ￿10￿$ life lost. Pa8e12 HEREFORDSHIRE Co￿(￿[uNrrY FOUNDATION Chalrman's Report for the year ended 31 MArch 2021 We &re particularly keert to id￿tity ways for smaller businesse5, who t consider themselves too small to make a difference, to create a colleciive fund devot¢d to lInp[o￿llg lifr changes for th¢ disadvalltsg￿ ill our Commulliry. Please do wntactus if you would lik¢ fillther inforn)ation. Pa8e13 HEREFOPDSIIIRE COMMUNITY FOUNDATIO Report of the Trnstees ror the year ended 31 Marcll 2021 The truste£s who are also directors of the charity for the PUEposes of the Companie5 Act 2006, present their report the fihgncial statements of th¢ charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Rq)orting by Charili¢s.. Statemellt of ReconuneDded Practice applicable to charities preparin¥ tbeir accounts in aLcordallce with the Financial Reporting st￿dard applicable in the UK and Republi¢ of Irelalld {FRS 1021 (effective l January 20191. Trustee5 of the Charity The dire¢lors of the charitable company 9re its trustees for the purposes of charity law. The trust¢es MILO seryed dwEn8 the year and since the year end were as fulloiv5'. F Myer5 NIBE (Chair) O Cook¢ B Da￿S0￿ K Hall G Hughes L Ethghes W Lindesay A tnther C Rixon P Spens L Steyellso S w)￿n {appointed 20 Janwy 2021) [appo￿ted 19 May 2020) (resigned 30 July 2021) Ir¢signed 30 June 20211 (appointed 20 JalluaTy 2021) (appointed 19 May20201 {r¢signed 30 July 2021) (appointed 23 October 2020) OBJEcfivES AIW ACTIVITIES Objective5 and aims The obj¢¢ts for which the Foundatii)n is established Are.. To promote any ch8rilablt PUTP05¢5 for th¢ benefit of the o)mmunity In th¢ County of Herefordshire and in particulat th¢ advalleement of education, th¢ Protection of 8IKxI health both Tnental and physical and the ielid of poverty and sickness. To pri?￿￿te othff ¢xCI￿s1VeIY charEtable purpttses in the Lhit¢d Kingdom attd el8¢wh¢re which are in the opinion of the Truste¢s beneficial to thepublic including the community in tbe County of Herefordshir¢' To rnatth the wishes of donors, Corporate or individuaL to comnunity tteeds. to encourage local philanthropy for the publi¢ benefit, and to enabl¢ donors to us¢ the re%)ur¢es of the FOU￿datIon to achieve more effective giving- To seek doi)atims tts eridowment fullds, Indi￿lduallY tailoTd to tb¢ donorf5 wishes or, for Smaller amouttts tn a pooled end￿Tren[ fund. To s¢¢k donations to tlow-tbrollgh fijnds for tbose who wish to see a more iTmll¢diate illwaci from th¢ir generosiw, To ettable its donor5 to take fvll advantage of all extml aid to the sector includittg donation matching and gift aid- To establish links with the volwitary, business and Statutory sectors in ordtt to #)sur¢ the best POS5ible use of resour¢e8 ihit) these wors_ Public bellefit The Trnstees seek to enswe that the aCti￿tICS of each of the Funds under the wnbrella of the Foundation meet 'Public Benefit, tests in ac¢ordall¢e ￿th the following Charity Ciimmission gwdance.. Ktjow whatthe Fulld was set up to achiev¢- this is known as the Fund's'pw)o$e'. Identify how the Fund's puipose LS beneficial - this is th¢ Tr)¢n¢fit aspect, of public benefit. Page14 HEREFOIU)SHIRE COMMUNrrY FOUNDATION Report of the Tru$tees for tho year ended 31 March 2021 OBJEcfivES AND AcfifviTIES Public ben¢fit- continued how the Fwid's purpose benefits the public or a sllfficient section of the public - thi5 is the 'public as￿. of public benefit. Identify how tlie Fwjd's p￿Ose will b¢ d¢livered - thi5 15 as 'fvrthering the charitys purpose for the public benefit. The Ttustees, haNing revi¢w¢d the objectives and activitie5 of th¢ F4)undation and ils constituent FuDds and, having given due consideration to ChaTity CoThTni$sion guidallce above, are satisficd that the Foundation business is PEopeily conducted for the'publi¢ be]Jefit'. The Funds The Foundation manage5 a number of $ub-fund5 that fa]1 irtto two broad cat¢gories - Endowment and Flow-through. Althou￿ all the funds belong tth the Foundation. they are ring-fellced gnd operate separately in al￿rdance with the ishes of the donor. End0￿￿ent Funds ar¢ long-tenn capital fi￿d3 Wlth the a]￿ of in¢reasing their valu¢ by judicious I￿V￿tMent applyin8 their income to the charitable purpose of the sub-fund. Flow-through Funds tend to h#v¢ a lirnited life wryth the goal of distributiog the whole sum doTLated in accordance with the goals of the donoT. Our approach to fundraising In (￿der to C3Try Out its aciiviti¢s, th¢ tru$te¢s have considered Th¢ Charities IProt¢cllon and Social InvestmeDt) Act 2016. The charÈty complies the Code of Fundrai5iDg Practice. It has received tto ¢omplaints ￿ fvndtaisirtg activity alld does Dot ￿dertake fimdraisillg in a way that might intrude on ally p¢rgott's privacy or take advantage of vulnerable people. The majonry of the Ch￿Ity'S futjdraising ￿tIVity is derived from grdnt fi￿d]llg and ¢ontrau opportullities via grallt umkiog trus(, public agencies and prime contrdCtor5. It does not carry out either directly or throupJ] other professtonal agencies, direct marketing or face-to-fate 2pproachts to indi￿dualS vulnerable or otherwqse. STIUTEGIC REPORT Achievement and perform#ll¢e Chirltable acil￿tieS In rhe ycar undet review thc ¢mpbasi5 has once again been on grant giwng and that I am pleased to adwse that the value of grallts disbursed has tontinua to rise. Fillancial markets have remained tUTbulent during the year but we have benefited from s8 in the year. The TrustLx$ continue lo s¢¢k further funding for marketill8 and endowTreJJt fvnd development activities. The Foundaiiort #ims to retain sufficient free reserve5 to proyiae adequate working capital to fi￿d its a(ImiDistration and fund development activities for at l¢a5t six months, takllig into aCCoL￿t committed income. Th¢ Trust￿* aF¢ satisfied that the net assets of the Foundation 3re adeguate to fulfil the obligatioDs of thc Foundation. Free reserves ¢uryently amount to £5.385,743 12020.. £4:256,367}. the Trustees are sat18fJed that free reserves are more than sufficient for a tnillin)um of Six months devclopment activities. Going ¢oncern At the time of approyillg the tccounts, the Trustees hai'e a rea%￿ab}e exp¢ctatioll ibai the charity bas adequate resources to continue in operational existence for d)e f0T￿eab]e fvture. Thlls, the Trustees contilluc to adopt th¢ going concern basis of accounting preparing the accoutits. Quality Accreditstion The Foundation holds the latest Quality Accreditatiijn awarded by the UKCF. These exacting standards are endorsed by the Charity Com]ni5sion and cover the key areas of Definition and Governance. Finance and Risk, Donor Servicei and Development, GThinl fvIaking and cO￿￿nUntIJ Ettgagejnent Cotnmunicaiiorts. Community Foundations mllst hold this quality accreditsiion to manttge publicly funded grallt prowmo4. The foundati(N] coniillues to htsld the latest Quality Accraitation {QA41. Future plans The TnIst￿5 plan, during the next twelve month5, to.. Continue to make ￿antS to support local eommuniti&8 for the public benefit and in accordanee the wishes of donors. - Seek to extend its Endowment and Flow-thtough Funds for individuals and corporate givers. - Raise the profile of the Foundati(￿ ill tbe Counry. - Activcly enCOUEage local philanthiopy for local b¢nefit. Develop a rang¢ of donor 'v¢hicles' desI￿ed to m¢¢t the ¢ver-widening rang¢ tsf clwitable aiTns of prospective do]]ors. . Ellable existing dontsTS to achieve more effective gI￿llg. STRUCTURE, GOVERNANCE AfiD MANAGEMENr Governing document The charity is Controlled by its governing d[￿men¢ 8 deed of tru•, artd constitutes a limited compèny. limited by guarantee, as defined by the Companies Act 21(>6. IncoTporation as a comptny limited by guaratjtee t(K>k place 24th June 2002 and registration as a charity occurred on 5th December 2002. Reervitment and 8ppolntment of new trustees Laura Hughes was appointed 19th May 2020, Louise Stevellson li'as appointed on 19th May 2020, Sheiagh Wynn was apptsint￿ 23 October 2020. Karcn Hall was appointed 20th January 2021 and Philippa Sp&Js was appointed on 20th January 2021. Other Truste￿ serwng are as shown on the Reference and Administrati￿¢ Infomation pages preceding this iep)rt. Page16 HEREFORDSHIRE COL¥IMUF4rfY FOUNDATION Report of the Trustee8 for the year ellded 31 MArch 21121 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitme￿t and appointment of new tru$t¢e$- continued The Board ai]ns to achieve repr¢5entatioJ across the different areas of the Cout)ty. to maintsin a wide rarkge of interests withiti the voluntary ¢onununity sectors and to erlsurt that key skills, such as fiJDd developsnent, fJnat)cial 3nd legal knowledge. are prtsvided within the Trustee 8roup Organisational $trllcture The Tntstee Board 15 the strat¢gic decisson-making body of the Foundation. It employs the part-time Director, Carries out th¢ day-to-day maijagcment of th¢ Fouttitstion. Gront panels are established as appropriatc for the asscssment of grants and th¢ir T¢commendations are sub]nitted to the Board for final approval. At the current stage of d¢velopment, active participation by Board memLEr8 is required to advance fund de￿e[Op]llent, the website and the profile of the Foundation within Herefordthire. The re]n{￿eratIon of key ￿anag¢Mellt of the chariiy is s¢t by the IM)ard. Indlletion and tr￿ning of new trustees All Trustees are provided with illductLOll to the work of the Foundation and oppOrt￿)itieS to attend training and developmmt event5 prO￿d￿l. Related partles Th£ Foun(kniion is affiliated to and acknowled8es the support of the United Kingdom Cornmuttity Foundaiion IUKCF). Th¢ Foundation benefits fri)m, and is gratefid for, th¢ help alld office support that it re£cive5 fr(xn th¢ EF Benevoleni Fund. There aTe occasions when the Foundation is asked to support a bBnefi¢iary of other chaFiti¢s and may receive fund5 for manag6Tn6ni frotn charitable projects In which a certa￿ mimbtr of the Trustees have sn int¢re$t. At aLI times these tran5artions are within th¢ swpe of its objects. Rlsk mAnAgemetht The trustees hav¢ * duty to id¢ntify and rei'iew the iisks to which thc charity is ¢xpos¢d and to a)sur¢ appropriate controls ar¢ itt place to proTride r¢asonabl¢ a$suratxce against fraud and error. The Fund Director has carefully controlld administration costs th2t are funded by direct donat10115 and intemal tmnsfers fron] the Indi￿dual funds managed. Trust¢¢s regularly revtew the risk assessment profile, in line with Charity Ctsmmission recommended guidelines. Trystees, re5pollslbllltle$ The truste&4 (who are also the dirtctor5 of Herefordthire Community Foundati00 for the purposes of co￿panY law) are re5POtL5ibl¢ foT prq)aring the All￿U￿ Rwori and the financ2al staten]ent5 in ar¢oidance with applicable law and United KingdoTn Accounting StandaTds (Unit¢d Kingdom Generally Accepted AcLounting Practice). Company law requires the I￿￿tee$ to prepare financial statements foT ea¢h financial year which give a true and fail iew ot. the state of affairs of the charitable co￿panY and of the in¢oming resourccs alld application of rwur¢es, ill¢luding the ineomc alld expetyditure, of the charitable erf)mP￿1y for that peri￿￿. In preparing those financia statements. th¢ tru5te¢s are required to sel¢ct suitsble accoullting policies and then apply them ¢onsistently,' observ¢ the methods and princip1¢5 in the Charity SORP. make judgemmis and estitnates that aTe rcasonable and prndent; State iTrth¢ther applicable accovnting standards hai'e bec%J follow'ed, subject to any mattriAI d¢parnres disclosed 9JJd ¢Kplaffttd in the financial sthtexnents; prepaTe the financial stst¢ments on the goin8 concern basis unless it is inappropriate to pre5um¢ that thE tharitable con]pany will continue in busin¢s5. Tht trust￿ are responsible for keeping proper accounung records which disclose reasonable accuracy at 2ny tim¢ the financial position of the chatitsble ¢omp&ny and to enable them to eD5ure that the financial Statern￿)￿ comply the Companies ALt 2006. They gre also responsible for saftguarding the a55ets of lh¢ ¢hariwbl¢ company alld hence for taking reasonable steps for the wevention and detection of fraud and other iTregularities. Pag¢17 HEREFORDSIIIRE CoMI￿u￿ITy FOUNDATION Report of the Trustees f(br the year ended 31 March 21121 Di5elo$ure of inform&tioll to the auditors We, the directOFS of the compallywho held office at the date of approval of thes¢ Finatt¢ial Ststenieni$ as set out above each confLnn. so far as we gre aware. that.. - th￿¢ is no relevant audit ￿rOTMa1￿ott of which the ¢ompany's auditors are unaware. and we have tsken ail the steps that we ought to have taken as directors in orda to make 0￿[SelVeS aware of any relevant audit illfomatioik and to establish tbat the company's auditors are aware of that infornJAtion. Auditor5 The auditor& Haines Watts Worce8t¢r Audit Lllnit¢4( ￿11 bt prop05ed for re-apEK)intn]ent at the forthcoming Annual General Meetin8. R￿ort of th directors. OA oratillg a strategic report, approved by order tsf the board of trustees, as th¢ rompany . and signed on the board's b¢haifby'. F Myers Pag¢18 R¢port of the Independent Audltors to the Members of Herefordshire Community Foundgtion OpiDiotL W¢ hav¢ audited the financial stat¢m¢nts of Herefordshire CoTllTnunJty Foundation (th¢ '¢haritabl¢ cornpang) for th¢ yeat ended 31 Mar¢h 2021 which comprise the Statement of Financial Actimties, the Balance Sheet, the Cash Flow StaterDeDt and nL)tL% to thc firt8nti214tatemenls, including a 8ummary of signiflLant aLCOUnting policies. The financial reporting framework that has been applied in the￿ preparation is applicable law alld Ulliied Kingdom Accounting Standards (Ullited Kingdom Generally Accept￿ Accountitlg Practice}. In ow opinion the financial stattm¢nts'. give a true and fair view of the %tate of the charirable compan1$ affairs as at 31 March 2021 and of its incoming resources attd applicatkin of resources. includin8 its income and expenditure, for the }'ear thlx) ended: have beell prop¢tly prepared in accordance with United KitJgdom Generally Accepted Accounting Practice- and bave iten ptepared in accoidan¢e witb therequiren)etJts of the Comp*JRe5 A¢¢ 2(kn. Basi5 for opinion We rondurtcd our audit in a¢c(>Tdanc¢ with Int¢tnationa] Standard5 on Auditing (UK) IISAS (UK}) and applicable law. Our responsikn"litie% under those standards are fiwther descnird in the Auditors, rtsponsibilities for the audit of the financial siatements se¢llon of our report. We ate independent of the charitable company in aCCord9￿ce Trith the ethical requirements that ar¢ relevant to our audit of the filiaftcial statements in the UL inClud￿g the FRC'S Ethical Stalldar d we have thlfilled our oth¢r ethi¢al respoD5ibilities ID a¢¢ordanGe with th¢s¢ r￿u￿eMents. We IKlieve that the audit evidence w¢ hav¢ o￿a￿ne￿ is suffici¢nt and appropriate to pro￿de a basis for our opillion. Concluslons relating to gokng Concern In auditing the financi21 SVdtement$, we have con¢luded that the tru5tee5' use of the going concerrt basis of accountin8 iri the prq)aT3ti(>n of the financial Statements is appropriate. Based on the work ￿ have perfornie(L we hal'e not idenufied any material uncertainties relatillg to events or ci)nditiolls that, iiidividually or collectively, may cast significant doubi on the 6h¢iDtsbl¢ companl5 abslity to cot]tinue as a 80ing oncern for a period of at least twelve months from whett th¢ financial statem¢nts aF¢ authoris¢d for issue. However. not all fvture events or conditions can be predicted. The COVID-19 viral pandemic is one of the most Sigllificant economic event5 for the UK with mpr¢cedented levels of unrertainty of outcomes. It is therefore difficult to evaluate all of tbe potentid itnp]ic8tions on the entity's aclivilies, fimdtts, suppliers and wider econ0￿Y. The Trustees. vic￿ on th¢ imp&tt of COVID-19 is disclosed the lieport of the Coun¢il. OUT r¢spK)Dsibilitits and the responsibilities of the tn]stees ￿t￿ respect to goin¥ con¢¢rn a¥E described in the Televant sections of thisrcporL Other informatioTL The trustces responsible for the other infom)#tSC8J. The ither information comprises the ittfom2tion includ¢d in the Annual Report, oth¢r than the financial ststements and our Rq)ort of the Independellt Auditors th¢r¢on. Our opinion on the fjnattcial statements does Dot cover the other infonnation anii except to the extent otheTWryS¢ explicitly stated ill our report. w¢ do not ¢xpr4ss any form of a5sur#nce conclusion thereoll. In conttection our wdit of the financial state]nents. our responsibiliry is to read the other inforrnation and in doing so, consider whether the other Information is Enaterially iDconsistent the finantial statunent5 OT our knowledge obiamed itt the audif or otherwisc app¢ars to be materially misstated. If w'e identify Such Tnaierial inconsistencies or apparent Jjjaterial misstatements, we aFe iequired to deterniine whether this ￿VeS rise to a matttial rniSStstem￿t in the financial sratemeJJts themselve* If, based on the work we have perfornied, we con¢lllde that there is a matuial misstatemetlt of tbi5 other lllforn￿tI0ll, we are requir&1 to report that fact. We have nothing to report lli this regard. Opinions on other tDatters prestrtbed by the CompaDles Aet 21106 In aur opinion, based on the WOTk undertaken the course of the audit.. the inf0nnati1￿ given in the Report i)f the TtU5tees for the financial year for whidj th¢ financia] statemL7)ts are prepared is ConsiSte￿t the financial staten]ents; and the Rq>ort of the Trusttts has I￿1 prepared in accord9￿c¢ with applicable legal requirements. P&ge19 Report of the Independ¢nt Audltors to the Memb¢rs of Herefordshire Community Foundation MAtters on sYhl¢h we are required to report by exceptlon Irt the light of the knowledge and und¢rstanding of the charitable company and Its enV]Fon￿fflt obtsined in the cours¢ of the audi( we have not Èdentified material misstateM￿tS ill the Report of the Trustees. We hav¢ nothing to report r¢5PeCt of the following matters where the compa￿leS Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not beett kept OT returns adequate for our audit have not been received from brancbes not ￿sited byus,. or the fillan¢ial statemeEJts are not ill agrecment the accounting records and returns" or ertain disclosures of trustees. remutt¢ration spwified by law are not made., or we h8ve not received all the infomation and explanations we require for our audiL Responslbilities of trustees As ¢xplam¢d m4xe fully in the Stat¢R]ent of Trustees, Responsibilities, the ttustees Iwbo are Also the directors of the charitsble company for thc pws of company law) are responsible for the prepaFation of the financial Statements and for bEing satisfid that thev give a tr￿e alld fair view, and for such internal wntrol as the trL]slees det¢mine Is ttecessary to e[￿ble the preparation offinancial siatement5 that #re free from material misstatement, wh¢thff due to fraud or e￿Or. In ptepaFiE]g the financial 5tat¢m¢nts, the trustees are responsible for a55es5ing the cbarttable companls ability to Cottiinue as a gtsing ¢ottcern, disclosing, as applicable, matters related 10 going ¢oncem alld using the going concern basis of a¢countin¥ unless the trustees either intend to liquidate the charitable ¢ompany or to cease operations. or have Do realistiL alternative but to do 50. Our respousibilitie5 for the audit of the financial statements Our obj*tives are to obtain reasonable assurance aknut whether the fjnat)¢iAI statements as a whole are free from material misstatement, whether due to frdud or aTor. and to issue a Report of the Independent Auditor5 that include5 our opini￿. Reasonable assurance is a high level of assurance. but 15 Tiot a guarantee thai an audit conducted in accordance wtth ISAS (UK) always dete¢t EL mAterial Tnisstatement when it exists. Misstaternents w 3tise froTn fraud or and are considered mat￿la1 if: ll)dividually or in the aggregate, they could ¥eason&bly be expected to influence th¢ ¢¢onomic decision5 of users tak￿ on th¢ basi5 of these r]nanci&l staiemenis. IrreguiariiÈe5, iticluding frallii ar¢ insian¢¢s on n￿-¢i￿plEati¢e with laws and regulations. We desi￿ prix¢dures io line with our rcspollsibilities, outlined alK>we, to det¢Lt material ry)i5Stat¢m¢nts in rtsp¢ct of irregularities, including frau(L the extent to which ourprocedures are capable of dete¢ting ityegulariiieg. including fraud is d¢tailed below.. We obtained an understanding of the legal and regulatory framework applicable tn ￿th the charitable company itself and the sector in wthich tl operates. W¢ id¢ntifid arw of law5 aHdi'¢gulations that could reasmably be expected 10 hav¢ a material efftct the financial statements from our sector expeTieii¢¢ and through discussion with the truslegs and other ni3nageTnfflt. The Tll05t SI￿lficant were ida]tified as the Companies A¢t 2006, the Ch￿ilieS Act 2011 and Charities SORP {FRS102). We considered the eXt￿t of cornpliancc witb those laws regulatlQll5 a5 part of our pr￿edUreS ott the T¢lat¢d finan¢ixl stat¢￿ents. Out audit prKedures included.. Making tnquirics of [nanage￿ellt as to wliere they consider th¢r¢ to be a sus¢eptibElity to fraud and whether they have any knowledg¢ or suspicioi of fraud. Obtainin¥ an undeTStandillg of the internal controls esiablish¢d to mitigY4te ri5k5 related to fraud or non-compliattce th laws and regulations. Ass¢ssing the design effeetiven¢5s of the controls in place toprevent attd detect fraud; Assessing th¢risk of management override including identi￿.￿g tesiirL8 journal entries., Challenging the assumptions and judgements made by managetn¢nt in its Si￿lficant accoullting es12n)ates. INthilst our a￿dit did not identify any significallt matters relating lo the d¢le¢tion of irregularities including fraud, and despiie the audit being planned alld conducied in accordance with ISAS (UK), ther¢ reTnains an ut]avoidable risk that material misstatements in the financial statements may not be detected owing io inherent limitations of the audit, and that by their very natur4 any such instanccs of fraud OT irre8uJarity would likely itivolve collusioll, forgeryj intentional 55Tepresentatiolls, or the override of internal control$. Pagel 10 Report of the Indeptndent Audltors to the Members of Herefordshlre Communit). Foundatlo U$¢ of our report This report is made solely Èo the charitable COmWdnYs meTnbers, as a Eody, in accord#rt¢¢ with Chaplcr 3 of Part 16 of the Compallie5 Act 2006. Our audit work has been undertaken 50 that we might state to the clwitable compallgs rn¢TnbeTS thos¢ matters we are required to stale to them In an auditors, report and for no othm purpos¢. To the ￿1]C5¢ extent pe￿itted by law. we do not accept or assurne ¥esponsibility to attyone other than the dwilable compatty th¢ ¢h2ritable ¢ompanls m¢mber5 as a body> Eor our auth'i work, foT this report, or for the opinions we bave formc Andrew Hughe$ ACA (Seiiff Statutory Audttor) for aud on Ethlf of Haines Watts WoT¢ester Audit Litnit First Floor Saggar Flouse Princes Drive Worcester 2PG Date.. 1011112021 Pagel 11 HEREFORDSHIRE commu￿ Fouf4DATIOP4 StRteTrDent of FÉn#Dcial Aetlvities for the year ended 31 MArch 2021 2021 Total funds 2020 Totsl fijnds Unrestricted fimds Restrict fimds Endownent fi]nds Notes INCOME AND ENDOWMENTS FROM Donati¢N)s a￿d l¢gacies 9.750 464,341 291.177 765,268 549,122 Other trdding activities Investment income Other inrome 1.250 148,223 15,063 3,702 154,109 157,812 88.369 Total 98,120 468,043 445.286 1,011,449 713,658 EXPENDITURE ON CharStxble Ectivltles Grants Ma(le Management Costs Governance Costs 455,328 111.796 70,960 567,124 146,479 4,669 75,519 4,669 513,765 71,707 8.001 Total 80,188 455,328 182,756 718.272 593.473 Nei gain￿{loSses) o inv¢stments 5.701 848.914 854,615 142.052 NET INCOMFJ{LXPENDITURE) 17,932 18,416 1,111.444 1,147,792 {21,867) Net JtKbvemellt in fund$ RECOYCILIATION OF FUNDS Total fund& brought fonv4rd 90.076 302,106 4.166,291 4.558,473 4,580,340 TOTAL FUF4DS CAIUUED FORWARD 108,0(Y8 320.522 5.277.735 5,706,265 4,558,473 The notes forni part of these financial statements Pagel 12 llEREFoRDSH￿ COMMUF41TY FOUNDATION Bhlanee Sh¢et 31 M*r¢h 2021 2021 Total fim(Ls 2020 Total funds Uniestrictcd funds R¢5tri¢ted fijnds Endowment nds Notes FLiTD ASSETS Invest￿¢11￿ 14 155,825 5.154,854 5.310,679 4,064.770 CURREF4T ASSETS Deblors C&sh at bat)k 15 58.906 54.965 71,619 119249 130,525 404,679 60,932 497,327 230 465 113,871 190,868 230.465 535,204 558,259 CREDITORS Amounts falling due within Ine 16 (5.863) 126,171) (107,584) (139,6181 {64.556) ET CURRENT ASSETS 108.008 164,697 122 881 395,586 493.703 TOTAL ASSETS LESS CURRENT IL4BtLITIES 108,008 320.522 5,277,735 5.706.265 4,558.473 NET ASSETS 108,008 320 522 5,277.735 5 706 265 4,558.473 FLTrIDS Uarestri¢t¢d funds Re8tricted fi￿dS Endowment fund5 18 108,008 320,522 5,277,735 90,076 302.1 4.166,291 TOTAL FUNDS 5,706.265 4,558.473 *t¢meuts were approved by the Bo2rd of Trustees and authorised for issue . and were sig￿ed on lis behalf by.. F Myers Th¢ not¢s forni part of these financia] sialemenls Page | 13 HEREFORDSHIRE COMMuf4TfY FOiJM)ATION C45h Flow Staternent for the year ended 31 M￿ch 2021 2021 2020 Notes C#sb flows from operating activiti¢$ Cash gen¢rated from Operati(￿1$ 36,IE6 145,871 Net cash prffiTrd¢d byop¢Tating activittes 36,116 145,871 Cash flows from investing ￿ti￿ltIeS Purchase of fix¢d asset investmellts Sal¢ of fixed assd ￿￿StmentS {442.519) 236.521 (245,221) Net cash provided byl{used inl investlAg activities 205,998 243,193} Cash flov$ from finAn¢lng aCti￿tIeS Income attributable to endoThment ExpendiluTe atttibutable to ffldO￿rynent 445.286 182,756) 309,565 174,8251 Net pri)vided by fjnancing activities 262 530 Change in eA$h cash eqvival¢nts in the reporting perlod Cash r&5h equivAl¢nt$ at the beginning of the reporting period 92,64S 37,418 497.327 459,909 Cash and e#sh equlvalents at the end of the reportSng periiwj 404,679 497,327 The notes forni part of these fin¥rttial statements P#ge114 HEREFORDSHIRE COMMuiYrrY FOitNDATION Notes to the Cash Floiv Ststement for tbe ycar ended 31 Marcb 2021 RECONCILIATION OF F4ET INCOMEI(EXPEThry)lTURE} TO NET CASH FLOW FROM OPERATtNG AcfiviTIES 2021 2020 Net incomellexpenditure) for the reporting perlod (as per the Statememt of Flnancial ActiMties) Adjustmellts for: IGainV10$5es on iDve5tm¢nts IncoTne Atthbulable to et)downent Expendilute attributable to endowThent D¢¢rease11￿Cr￿gScI In debtors IDecrea5eyin¢rease in creditOTS 1,147,792 121,867) (854,615) 1445,2861 182,756 169,593) 75.062 142,052 (309,5651 174.825 122,348) 182,774 Net ¢a$lL provided by operatlons 145,871 ANALYSIS OF CU￿bIGEs IN P4ET FUNDS Ai 1.4.20 Cash Rtsw At 31.3.21 Net tAsh Cash at ballk 497.327 92,648) 404.679 497.327 92,648} 404.679 Total 497,327 92 6481 404,679 The llot¢5 for￿ pari of tbese financial stateTn¢nts Pagel 15 HEREFORDSHIRE COI4IMUNtTY FOUNDATION Notes t• the Flnanclal Statements for the year ended 31 March 2021 CoMP￿Ny INFOli￿￿TION Herefordshire Commull￿ty Foundation Ltmited is a private cotnpany limited by guarantee illcorporated in Engl￿d alld Wales. The registered office is The Fred Bu]mer CeDtre, Wall Street, H¢reford, HR4 9HP. ACCOtINTAP4G POLICIES Basi5 of preparlng the finan¢i#l 5tatem¢nts The financial slatemaits of th¢ chatitsble company. which is a public benefit entiry uoder FRS 102, have be£n preptred accordan¢e with the Charities SORP {FRS 102)'Accounting and R6porting by Charities.. Statement of Recommended E*2th¢c applicable to charities prqiaring their accounts in accordance M4th the Financial Reporting Standard applicable in th¢ UK at)d Ilepublic of Ireland {FRS 102) {effective l January 20191,, Financial Rq￿rtillg Srandard 102 'The Financial Reporting Standard applicable IT2 the UK and Republic of Ireland. and the Cornpw1¢5 Act 2006. The financial statements have prq)ared under the historical cost conveniion, ￿7th the exceptki￿ of in*¢stn?￿tS which ate included at Dwket valu< as M￿lifie￿I by the revaluation of certain a55Cts. Critical accountiDg judgements and key sources of e$tlmatioD uncertAlnty Th¢ financial statement5 have be¥n prepared a going concern basis. Th¢ Directors have Teviewed and considered relevant ittfmnation, including the ￿)nUal budget and futwe cash flows in Thaking their aswstnent. particu12r, in response 10 the COVtD-19 pandemic, the Directors have t¢St￿ their cash flow attalysis to tak¢ into account the impa¢t on their business of possible scenarios brought on by the impact of COVID-19, alongside th¢ M￿sureS thai they can L￿e to mitigate the impact. Based OTL these assessments, given the measures that could be uttdertaken to mitigate the current adverse conditions, and the ¢wrent resources available, the Dtteltors have concluded that they Call coiitinue io adopt the going ionctrn basis in prepdring th¢ annual report and accounts Income Income is recOgnis￿ when the ¢harity is legally entitled to it after any perforniancc conditions have ￿en met, the a]nounts can be measured reliably. and it is probAble that income ￿11 be re£eiv¢d. Cash donatiot)s are recognised on reeeipt. Other dthations are recognised oncc the charity has been notified of the donation unless performatjee conditions require deferral of the amount. It)come tax recoverable in relation to donations received under Gift Aid or deeds of ¢ovenant is rixtsgni5ed at the time of the donation. L¢gacics are recwi5ed on receipt or Othern￿ls¢ if the charity has been notified of an impending distributioll, the amount is known, andreceipt is expected. If the amount is not known, the legacy is tr¢ated a5 a contingent a55et. Expondlture Liabilities are recogni5ed as expenditwe a5 soon as th¢re is a legal or ¢onstrnctive obligatioll cornmitting the chatity to that expenditure, it is probable tbat a tr8n$fet of economtc benefits will be requsred in setllemet]t and the amount of the obligation can be measured reliably. Expendi￿£ is accounted for (fft an accruals basis andhas been ¢lassificd under headings that aggregate all cost related to the category. WThete ¢()sts cannot be dirertly attributed to particular headings they have been allocated to activitics on a basis consi5t¢nl with the use of resources. Grants offered subj¢ct to conditions whieh have not been met at th¢ year end date ate noted as a comnllthi¢nt but not ac¢rued as expenditure. Gtant5 payable are pa￿llents made to third parties in the furtheran¢e of charitable obj￿tS of the Trusx. In the case of an unwnditional grant otTer t]iis is awrued onL¢ the r￿1plent has been notified. Notifi¢atlOll gives th¢ Tecipient a reabonable expeciation that they wll recetve the otte~y¢ar or mujti-year ￿&r￿t. Grant award5 that are subject to the recipient fi]Ifilling performaace cottditions are only accrued when the recipietti has been notified of the gratst and any renJainin¥ unfillfilled condition att2chillg to thai grant is outside of the wntrol of the Tntht. PrO￿510￿S for grants are made the intention to inake a ￿OnI has been commullicat￿ to the recipient but there is uncertainty a5 to the ttming of the grant or the amount of grant payable. Page116 ¢ontinu¢d... HEREFORDSHIRE FOitNDATION Note8 to the Financial Statement5- eolhtlnued for the year ¢￿ded 31 March 2021 ACCOiTrITThG POLICIES- eontillued No amouTJt Is included ID the fitsallcial statements for Yolunte¢r time in line the SORP (FRS 102). Funber detail is ¥iv¢n in th¢ Truslees, Annual Report. Irrecoverable VAT is chgxged as all ¢xpense &g￿nst the activity for whith expendiiure arose. Tangible fixed #s$ets D¢pre¢iation is proNided at the folloThing ￿t￿￿al rates in (rder to wite off ¢#¢h asset over Ét5 estimat￿ useful life. Plant macbioery Fixwre5 and fittings 25/D on reducillg bal3D¢¢ 25010 on reduciJg balance T#%4tlo The charity is exempt from corporation tsx ￿ its ¢haritoble activitie5. Fund a¢¢ountlng Unrestricted funds are available foT use ai the di$creti(M of the Tn￿teeS in furtbe¥an¢e of their chaTitable objectives unless the funds have de5igtLated for other PUTW>Sts. R¢stricled funds are subject to specific conditions by donors a5 to h(>w they may be used. The Fous]datio manages a Dumber of sul>fi)nds that fall into two broad categories- Endowrynent and Flow-through. Although all the fi]nds belong to th¢ Foundation, they are ring-fellc￿ atsd operate separaiely iE] acci>rdance the wish¢s of the donor. E#do￿Trent Funds are ltsng-term capital fi￿d$ the aim of iTL¢reawtig their value by judicious illvestnient applying their income to th¢ charitable purpose of the SUb-fi￿¢t Flow-througb Fus￿$ tryxd to have a limited ]Afe the goal of disttibutittg the whole sum donat&l in acci)rdance with the goal$ of the don￿. Listed investments Listed investrnents are valued at the mid-markei price at the end of the last weekday b6foi¢ th¢ fjnallcial year R￿lised gains or 105so* are cal¢ulated as the difference b¢tw¢¢o sale pr￿cedS and TDaTket value at the previous balance sheet date. All gains and losse5 wh¢ther realised or unrealised taken to the Statetnent of Fsn8n¢ial A¢tirities. Financial iD5truments Finallcial assets and finan¢ia] liabilities are categorised w)d¢r FRS 102 as either basi¢ financsal tn5trutnent5 OF other financial in51rum¢nt$. The ¢ompatty deals principally in basic finattciaj instrutnents. wtsi¢h 8re accounted for in accor(1an¢e with sectiots I l ot'FRSIO2. Debtors and creditQTS with no slated interest rate and r¢c¢ivabl¢ or payable ￿Trth1￿ one year are retorded at transaction pric¢. Any losses arisillg from IMpa￿￿ent are recogttised in the profit gnd Icyas account in other admini5tr2tive expense. Pension Costs and other post-retiremellt benefits The company operates a defined contributii)n p¢ll55Oll s¢heme. CotttributiaDS paydble to the ctsmpaoy's ￿1$10 schetne are charged to profit or loss itt the period to which they ielate. Page | 17 contitkued... HEREFORDSHIRE COMMiIF41TY FOUNDATIOF4 Notes to the FinanclAI St¥tements- CO￿tInUed for the year ended 31 2021 DONATiof4S AND LEGACIES 2021 2020 Donatioll5 Grants 427,6 337,668 395,541 153.581 765,268 549,122 Grants rrt¢iYe¢L included ￿ the above, are a5 follows.. 2021 2020 Other grallt5 337.668 153,581 OTHER TRADING ACTIVITIES 2021 2020 Futtdrni5ing events 1.250 INVESTMENT INCOME 2021 2020 lllv£%tments 157,812 CIL4RITABLE AcfIv171ES COSTS Grdnt fulldiEJg of a¢tivit1¢5 (see note Support costs (see note 8) Dirxt 7) Totals Grants Made Management Costs Gov¢tnanc¢ Costs 567.124 567,124 146,479 4,669 146.479 4,669 146,479 567,124 4,669 718,272 GRANTS PAYABLE 2021 2020 Grallts Payable to Institution's Grattts Payabl¢ to In(h"vidual's 550,103 498,248 15,517 567,124 513.765 SUPPORT COSTS Govern￿¢¢ costs Governance Costs Page | 18 continued... HEREFORDSHtRE COWUNITY FOUF4DATION Notes to the FI￿ntI&l Stateinemts- continued for the year ended 31 Mareh 2021 SUPPORT COSTS- coDtiDutd Support costs. included in the above, are as follows: 2021 2020 Total aLtiviti¢s Goven]anee Costs Wages AuditOTb' remuneration Ins1]ranc¢ Avountancy and legal fces 1,125 3,900 280 2,696 4,020 649 4,669 8,001 NET 114COMEI(EXPEI4DITURE) Net incomeJ{expenditur¢) is Stsled afier ehaTwyJ{crediting).' 2021 2020 Operating lease rthtal Allditors, ren)uneration 1,848 4,020 3.900 io. TRUSTEES, AND KEYMANAGEMENT REMUNEBATIOTrI BENEFrrs Th¢re were no trugtees. rernuneration or i)ther benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. The Charity Lonsidv5 Its key mallagetn¢nl peEsonnel compiise the rnattagemenl and admin t¢am. The totsl amount of employee benefits received by key Tnanagement personnel wa5 £62,878 {2020- £56,250). Trustees. expettses Therc wete no ttwstees, expen5¢5 paidfor the year Cllded 31 March 2021 llor for the year ended 31 March 2020. 11. STAFF COSTS 2021 2020 Wages and salaries 62,878 56,250 62,878 56.250 Support Costs. included iti the above. are as follows.. 2021 2020 Total activities Governance Costs Wages aJd salaries Social S¢curity Pension 62.250 565 63 55,221 1,029 62,878 56.250 Page119 continued... HEREFORDSEIRE COMMuf41TY FOULNDATION Note5 to the FiuanclAI Stgtements- contlnlléd for the year ertded 3114l#rch 2021 ii. STAFF COSTS- continued The average monthly number of t￿P10ye¢S durin8 the year Wds as follows.. Staff 2021 2020 No employ¢¢s reteived cmoluments in excess of £60,000. Office and stsff costs are gplit 980/0 lo Management and 20/& to Gov¢rnatt¢e. All ¢xtemal co8ts, Management and Goi'ernthce ex¢ept for investment managtTttWt and pro￿aInMe audit fees gxe in Tespect of charitsble a¢ll￿tieS attd ¢harged to the General Fund The total 2mOUJt in respect of reni paid the year w2s £1,614 (2020.. £1,937). Page | 20 cont￿ued... HEREFORDSHIRE COMMUNITY FOUTr4DATION Notes to the Flnancial Statement$- continued for the year ended 31 March 2021 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTtVITIES Unrestrict Restricted fimds fi￿oS Endowment fimd5 Total funds INcof+lE AND ENDOWMENTS FROM Donatiotts aud legacics 6,843 379.327 162.952 549,122 Othcr trading actiNTrties lllYe5tmenl i]]coni¢ Other income 1,250 1,507 ,250 148.223 15.063 102 15,063 146,614 TotAI 22.008 382,084 309,566 713,658 EXPENDITbliE ON Charitable activitie5 Grants Made Management Costs Governance Costs 338,939 174.826 513,765 71,707 8,IK)I 71,707 8,001 Total 79,708 338.939 174,825 593,473 Net gaiDsI(lossesl oll inlrstments 142,0521 142,052 NET INCOMEIIEXPENDITURE} (57,7tM)I 43,145 (7.312} (21,867) Trallsfers hetweell fullds 73,070 14,771 58,299) Net movem¢nt In fund5 15,370 28,374 {65,6111 (21.867} RECONCtLIATION OF FUNDS Ttstal funds brought fonvgrd 74,706 273,732 4.231,902 4.580.340 TOTAL FUNDS CARRIED FORM'ARD 90,076 302,106 4,166,291 4,580,340 13. TANGIBLE FIXED ASSETS Fixtures Plant and machinery fittirt8S Totals COST At l April 2020 and 31 March 2021 135,520 1,248 DEPRECIATIOE4 At l April 2020 and 3 1 March 2021 135,520 1,248 l36,768 NET BOOK VALUE At31 Marth2021 At 31 March 2020 Page121 continued... HEREFORDSIIIRE COMMUNITY FOUF4DATION P*'otes to the FAnanclxl StatenTrents- continued for the year ellded 31 Vlareh 2021 14. FIXED ASSET INVESTMENTS List it)vestments MARKET VALUE Ai l April 2020 and 31 March 2021 Additions Disposals Revaluations 4,064,770 442,519 {51,2251 854,615 At 31 MaFch 2021 NET BOOK VALUE Ai 31 March 2021 5,310.679 At 31 Match 2020 4,064,770 There were no investsnent assets Outside the UK. 15. DEBTORS: AMOinYTS F.4LLING DUE WITHif4 OF4E YEAR 2021 2020 Trade debtors Other debtors 9,340 121.185 60,932 130,525 60,932 16. cRE￿￿ORS. AMOUNTS FALLING DUE wfTHDi ONE YEAR 2021 2020 So¢ial securiry and other tsxes Other creditors Accruals and deferred income 1,157 149 138.312 1280 63,276 139.618 DEFERRED INCOME Deferred income, included in the above, are as follows.. 63.276 23.801 At l April 2020 Amount5 provided during the year Amounts released during the year 41,231 (63.276) 63276 {21,8011 At 31 Mgxch 2021 41,231 63,276 Deferred it)com¢ relates to amovnts received a5 a result of thc I￿￿'eStMent portfolio held at the year end, relating ro fiJtt]r¢ periods and for Ththich tLO charitable expenses have y¢t betn iDEutr¢d. Page | 22 conttoued... HEREFORDSHIRE COMMUNtrY FOill¥DATION Notes to the Finanelal StatemeNt5- COnti￿ved for tbe year ended JI Marcb 2021 17. LEASING ACREEIWE￿s Minimum lease payments under nm-c2t)cellable OPEratin8 leases fall due as follows.. 2021 2020 Withill OD¢ year Betweert ane and five years 1.848 7,392 2,968 9,240 2.968 Operating Ica5e commitments are for office accommodation. Lease arL iiegoliaLed for an average of 6 yeaTS. Such lease8 may be renewcd at the ettd of the terni or SUFrender¢d as actiTrity dictat¢s. Page | 23 continued... HEREFORDSHIRE COMMUIIITY FOUNDATIONI Note5 to the Fiu%nelAI state￿ents- CO￿11￿lled for the year ended 31 M¢r¢b 2021 18. MOVEMENT JN FUNDS Net m(>vement in fi]nds Transfers berween fvnds At 31.3.21 At 1.4.20 Unrestricted funds Gelleral 90,076 17.932 108.008 Restrieted fund$ Herefordshire Lifestyles Hereftsrdshire RSN Survivitig Winter Odey Fund 4.406 4,814 7,687 2,529 138,150 74.034 509 (3,357> 1,049 4.820 4,770 2,533 133.419 101,853 1.763 2.916 42,538 (2.91D Iron Futtd Flow-Through Ross Tennis Club AONB Restricted Emetgellcy Appeal Fund NET Fund G¢org¢'s Fund Heaton Futtd 14,731} 27.819 1,254 (7,202) (10,821) (6,500} 11,930 12,925 53,359 6,500 11,936 12.925 302,106 18,416 EThdowmeDt funds Becket Bulmer Richard Bujrner John Morwdn Hergest Gl¢nrora Coney¥r¢e CPRE Jack Hughe5 Bulmer Gilmour H.E.C Herefordshire County Fair 320,522 912.378 172.973 27,841 63,875 132,533 22,629 25,327 37,299 62,377 187,280 63,676 183,278 35,425 5.548 10,289 26,120 4.462 4.706 8,001 12,099 30,7L3 13,196 1.095.656 208.398 33,389 74,164 158.653 27,091 30,033 45,300 74,476 217,993 76,872 kl]i Joanies Iron Fulld Endownent Herefordshire Art5 College HCF Care Fund Judith Shrimpton Fund HCF SpoFt5 Fund Much Marcle unit￿ Fund Heaion Endowrnent Diamond Jubilee Trow End01￿ent Higli Sh￿iff Endowment The Clwlotie Ballard frust Fund Charles &.4nne S#unders Family Fund HCF Arts fund AONB EndowTnent HCF MHF TOTAL FUNDS 1.848,230 143,582 57,384 12.659 27,713 3,977 86,113 12.910 7,602 168.997 15.678 24,636 3,984 44,639 377.546 192.558 12,786 30,390 6,024 678 17,765 112,910) 5,596 36,22L 2.738 21,534 849 9,893 75,939 1,111,444 2.225,776 336,140 70,170 43,049 33,737 4,655 103,878 13,199 205.218 18.416 46,170 4,833 54,532 4.166,291 5.277.735 4.558,473 1.147792 5,706,265 Page | 24 continued... HEREFORDSHIRE COMMUYITY FOUNDATION Notes to the FTnanciol Stxtsments- eOAdnued for the year ended 31 March 2021 18. MOVEMENT IN FUNDS- eontinutd Net movemwt in fijnds. 1￿cluded iti the above are as follo￿. Incoming i¢sour¢es Resources ¢xpended Gains and losse$ overnenl in fi￿d$ Unrestricted fulld$ Gerleral fLfftd 98.123 (80,191) 17,932 Re5tri¢ted funds Herefordshire Lif¢styles Herefordshire RSN Surviving Winter OdeyFund TVYP IroD Fund Flow-Through Ross Tetjnis Club AONB Restri¢t¢d Emergency App¢al Fund NET Futid Welsh Water DCMS Barclays GEOUP F￿d Sick M4n's FmJd Hereford Time Christm&8 Appeal Fund George'5 Fund Heaion Fun (301) (3.050 (3.3571 5,321 (8,2381 (2.9171 1,119 94.710 1.254 (361} 5,020 235,783 4.750 75,334 12,375 9,143 2,595 11.936 (8.960) (69.482) 3,110 2,591 (4,731) 27,819 1,254 (7,202) (10,821) {6,5001 (6,8411 115,841} (242.283) (4.750) (75,334) {12,3751 19,143} (2,595) 11,936 12,925 471,613 {458.898) 5.701 18,416 EndosvmeDt fullds Beeket Bulmer Richard Bulm John Morgan Hergest Glencora Coney CPRE JaGk Hii8hes Bulmer Gi]mour H.E.C Herefordshire Th￿￿try Fa Joanies tron Fund EndowTnent Herelordthire Arts College HCF Care Fund Judith Shrimpton Fund HCF Sports Fund Muth Marclc United Fund Heaton EndowTnent Diamond Jubilee Trow Endowm¢nt High Sheriff Endowm¢nt The Charlotte Ballard Trust Futtd Charle5 & Anne Saunders Family Fund HCF Arts fund AONB Endowment HCF MHF 17.909 3.257 121,661) {2,6001 187,031 34,768 5,104 12,597 26,696 4.534 4,350 7,326 12,593 36,195 11,983 377,439 38,596 11,680 3.093 5.512 630 16,591 153,278 35,425 5,548 10,289 26,120 4,462 4,706 8,001 12.099 30,713 13,196 377,546 192,558 12,786 30,389 6,024 678 17,765 {12,9101 5,596 36.221 2.738 21.534 1.192 2,524 28 356 675 1.186 3,969 1,213 46,505 287,953 1,106 30,956 5L2 48 1,357 13.5001 13.1(K)) (500) {1,6801 19.451} (46.398) (133.3911 (3,657) {183) (12,9101 14011 {13.8481 (500) {7421 5,997 15,977 269 16,951 71 861 34,092 2.969 5.325 778 9,032 9.893 75.939 1,111.444 1,147.792 75,939 (179.183) {718,272) 441,713 1.011,449 848.914 854,615 TOTAL FU.YDS Page | 25 continued... HEREFORDSHIRE COMMUNfiY FOW4DATION Note$ to the Financial Statements- coTrtlnued 18. MOVE.MENT IN FUNDS- contlDued CoJnparativt$ for movement funds Net movement in PL￿d5 Transfers ittwe¢n fund5 At 1.4.19 31.3.20 Unre8trlctÈd funds General fund 74,706 (57,7(Kk) 73.070 90,076 Restricted Coll)ic Reli Herefordshire Lifesty1¢5 Herefordshire RSN twill SurviNing Winter Odey Fund TVYP Tron Fulld Flow-Through Ross Tennis Club Brandon TnLgt AONB Rcstricted Emergency Appeal Futsd NET Fund 7,384 4,787 (2.705} 27 (7) 3,246 (3,465) {28,8761 3,887 224 837 10,118 53,359 6,500 (273) 4.406 4.814 5,146 6,344 169,995 79,778 292 {7051 {350) (2,909) 19,631} 7.687 2,529 138,150 74.034 509 {8371 10,118 53.359 273,732 43,145 Enilowment funds Becket Bulmer Richwd Bulmer John Morg￿) Hergesl Glencora Coneygree CPRE Jack Hu￿]eS Bulni¢r Gilmour (14,7711 302.11 959,624 183,732 28,422 67,63 E 142,085 28.868 25,607 39,114 64,806 193,920 62.543 1,944,156 54,058 60,437 13,457 29,565 4,020 92,606 11,850 14,448 8,010 158,142 15,855 24,917 4.029 (32,0141 {7,874) {122) (2.679) 17,335> {5,833) 127 (1.203) (1,399) 13,586} 2,116 (75,3831 91,518 (2,106) (5861 {1,3881 21 (5.088) 777 11,425} 1348} 954 77 {15,231) 12,885) 1459) (1,07D (2,21D (406} 14071 {6121 (1.030) 13,054) (983) (20,5431 {1.994) (947) (212) 1464) (641 {1,4051 (12,627) (114) {60) 9,900 {254} (399) {651 (690) 912,377 172.973 27,841 63,875 132,533 22,629 25,327 37,299 62,377 187,280 63,676 1,848.230 143.582 57,384 12.659 27.713 3.977 86,113 H.E.C Herefoidshire cO￿ty Fair Jo*nie5 Iron Fund Endowment HerefordshiTe Arts Coll¢g¢ HCF Care F￿d Judith Sbrimpton Fund HCF Sports Futtd Much Marcle United Fund Hunter Trow Healon Endowent Diamond Jubilee Trow Endowmeni High Sh¢ritTElldowqnettt The Charlotte Ba]lard Trust Fund Charle5 & Allne Saullders Family Fund HCF Arts fund AONB EndowTrent 12.910 7,602 168,997 5,678 24,636 3,984 44,639 20 45,329 4,231,902 (7,312) (58.299) 4,166,291 TOTAL FUE4DS 4,580.340 (21,867) 4.558,473 Page | 26 contillued... EREFORDSlttRE COMfrfuF41TY FOUNDATION Not¢s to the Fin*neial St8tsment5- continued for the year ended 31 March 2021 18. mo5￿MENT IN FUNDS- continued Compsrative net movement in fiwd4 included in the aix)v¢ are a5 ftsllows.. In¢on)ing Resources resources expended Gains and losses Movement fi￿dS Unrestricted fwid$ General fund 23,450 {79.708} (56,258) Restricted funds Heaton Fwid HeTeford5hire Lifestyle6 H¢refordshire RSN iWs11 Surviving Wittter Odey Fund (1,439) 29 27 49.993 10,300 35 811 100,580 880 8,369 10,117 45,000 33.081 75,359 47,500 8,499 (2,734} 7.060 (2,705) 27 (71 2,746 (3.465} (28,8761 3,886 224 837 10,117 {50,(KK>) (7,5541 13,500} (29.687) (96,694) 1656) (7,532) Iron Fund Flow-Through Ross Tennis Club Brandon Trb AONB Restricted GVC Fund Tan)pon Tax Emergency Appeal Fund NET Fund (45,0th) (33,081) {30,000) 41,000) 45,359 6,5(K> 380,642 (338,9391 41.703 Elldowmellt funds Becket Bulmer Richard Bulmer John Morgat) Hergest Glencora Coneygree 33,109 6,172 1.907 2.247 4.740 814 790 1,301 2.230 7.071 6,561 66,628 104,151 2.127 437 981 117 2,955 98 75 {36,470) 18,723> (1.250) {3,0001 {7,9851 15,9541 {28,653} (5,323) {779) {1,926) 14,090) (693) (663) (1,071) {1,929) 15,539} 12.445} (58,455) (12.633) {1,7901 13731 18441 {96} (2,517) 679 (32.014) (7.874) 11221 {2,6791 17.3351 (5,833) 127 {1,203) {1,3991 13,5861 2,116 (75,383) 91,518 {2,106) 1586) (1.388} 21 {5,088) 777 (1,425) (348) 954 77 118 20 45,329 CPRE Jack Hugh¢$ Buhner Gilmour H.E.C Hereford5hiEe C4)wirry Fair Joanie5 Iron Furtd Endowrynent Herefordshire Arts College HCF Lare Ftthd Judith Shritnpton Fu￿d HCF SpoTt5 Fund Much M4rcle United Fund F¥unÉ¢r Trtsw Heaton End07￿ment Diamond Jubil¢¢ TTUW Endowment Htgh Sh￿ff Endowment The Charlotte Bally￿ Trusi Futtd Charles & Anne Saurtders Family Fund HCF Aris fi]nd AONB Elldowryn¢nt (1.433) {1.700) (5,1181 {2,0001 183,556} (2.443) 16501 {1,5251 (5.526} (1,500) 1392) 15,6001 12,723 531 854 139 50,763 16,169} (454) (736) (1191 15,4341 309.565 174 $25 142,052 7,312 TOTAL FUNDS 713,657 (593.4721 (142,0521 {21.867) Page127 continu￿... HEREFORDSHIRE CO￿1￿￿[]E11TY FOiTP4DATION Notes to the Finxtteial Stxtements- coDtlnu¢d for the year ended 31 Mareh 2021 19. RELATED PARTY DISCU)SURES There w¢re no related party tr2nsactions for the year ended 31 March 2021 and for the year 31 March 2020. 20. POST BALANCE SHEET ETrTNTS A balance of £135.520 fixed assets (Jil net I￿k value) relating to tbe cost of the Diamond Jubilee Trow wa$ ￿fted to the National Trust in Apr212021. 21. RESTRICTED FUNDS The Fowiddtron njanages anurnber of different type8 ¢Jf fvnds. They fall into two Thain groups:_ - Endownent fi]nds where the dOnati(￿S are beld aB Capital and th¢ iTrCOElle is distributed as grants in accordauce with the 117shes of the doll(f. - Flow-through fiu)d5 where the Mljole donatioD 55 distributed as wts over a set period, usually five years ( less. Endow%nent funds are fvrther divtded into three gTOUPS'.- Unmatched Endomwent fund5 re￿iVed no matched fill)ding frotn Government apart from Gift-Atd. The Foundation ll)anag¢s one suth fund, invested with CCLA luvestment ManaganLMJt Limite(L Fees are ch%rged to capital. Gr&ssrwts EndohThent fi]nds received matched government funding ullder a now closed Gras5riN)ts Endowment Match Challenge scheme iii addition to Gift-Aid. The Foundation nwiages nine su¢h fiTnds, invested with CCLA Investment Management Limtted F¢￿ are charged to capztal. - Commuoity First Endowwents receive matched gov¢rnment fi￿dillg Und￿ a current scheme it) additioJ2 to Gift Aid. Such fi￿dS ar¢ invested wth CCLA Jnve3tm¢nl Mana¥eTnent Limited in accordance with the ntles of the scheme. Fees are chatged to income. The income 15 supplemented by capital gaiDS im excess of infEation. There follows a bn.ef description of the charitsble objects of each fund grouped as above. Unmatched EndoJTrmettt Fulld5 dditional rnm￿llt fund$ Becket Bullber To promotc the Cultural advanLrment of the people of H¢refordshire itt particthar througb th¢ theatre, music and arts, enbance the education of youn8 people, the ￿m￿0ve￿ent of the enviromnent alld the support of disabled peiwle. In addition to Support Hereford Cider museu￿ and aivatd an annual bursary to the Hereford Police Male Choir Young MusiLian of the Year. Approximately 8Q/o of the value of the Becket Bulmer Fund was rnatched through thc GrassrTh)ts End0￿￿￿ent Match Challenge, a goVern￿ent scheme that rall from 2008 to 2011. Mueb Marele United Fund A coJ$olidat¢d ￿0￿P of old charities for th¢ i*nefit of th¢ people of the Ancient Patish of Mucb Marcle. Specifically, to suppori organisalions and community groups that work in support of the wider cotnmunity. Grant$ for indiyiiluals will be considered for edttcahon or welfare issues. Page128 continued... HEREFORDSHtRE COTrThIUNrrY FOUNDATIOE4 Iyotes to the Fin#lltlal Statements- eontinued for the ye*r ended 31 MArch 2021 21. RESTRICTED FUNDS- Colltillued Unmat¢h¢d Endowment Thnds no addldonol ovtrnmellt funds cootlnued HCF Care F￿nd To fimd allyHeTefordsbire emcrg￿cY or requiremo)t which need5 an immediate re5POt15e. The allphasis sbould be on individuals, the homeles5, p￿r or needy such as replacement clothing for a family after a house firc, or an e&8¢ntial hom¢ applian¢e for individual or family ncedittg urg¢nl iehou5ing after domestic abuse. HCF Sports Fmnd A currently illactive fi]nd but establishd toraise money for sport in Her¢fordshire. Richard BultAer To help under-25's living in and from HeT¢fOrdsbl￿ to furth￿ theiT artistic aspirations with particular em￿a5]S on music and travel. John Morga To promotc activities which raise envkTonment&l awareness and which b¢n¢fit the enviTOnm￿l with emphasis on th¢ Kington ar¢&. H¢rgest As for John Morgan but also to support the artistic endeavour5 of residents from Kingtoll. GlencoT# To pron]ote activities thai bellefit the Bnvironyn¢nt. enhance the laf¢stylcs of the older 8eIi¢ration and further the art5 ￿ryth particular elnphasis Im music. Priority given to applications from the Ledburylctslwall area. Coneygree To support tbe activities of conllllwiitylvoluntary groups iti Ledbury and the twenty-thrte surrounding parishes to provide care and fellowEhip ti) individuals and rehabilitsle those mental OT physical health problcn]s through their activitits. There is a special focus given to srollps working with older people. CPRE (Herefordshire) To sllpport group$ that protrtt th¢ COuntr￿ld¢. Judith Sbrlmpton Fund A fund created to benefit such urgani8ation5 atjd activities in Herefordshire the West Midland5 IA4iose aim 15 to re]iev¢ the nttds of pcople di5abiliti¢s of ally kind and to help it￿1VIdual5 lead a lifestyle of their cboice. Charlotte BgIIArd Trust Fwid A fi￿d ¢Teated to suppoff ¢hildreE) liNTrng ID Ledbury. Charles & S4umders Family Trust Fmnd A fimd created ro help people who are workitig to better thanselves through hard work Page | 29 contillued... HEREFORDSHIRE COMMUNITY FOUNDATtoh' Tr4ote$ to the Finantial Statements- continu¢d for the yeAr ended 31 ￿￿¢￿ 2021 21. RESTIUCTED FUThDS- ¢olltinued HCF Mental H¢4Jth Fund It has been a lottg-time priority of HCF to provid¢ a ￿nd dedicated to a(fthessing mental health issues throughout Hereford5hire. ThaEd(s to 8 legacy left lo the Foundation and a largq very generous. corporate donati￿1, the HCF Mental Health Fund has llow been set up and th¢ Fouttdation is currently collaborating Thryth local org￿]SatiOnS and providtts, including the NHS, 10 ensure the funding ￿71[ be targeted where it is Tnost neded. ommunt endowed First Endowment Matth Challe overnmellt 5chem¢ that offtred I for ev¢ Hereford College of Art$ A fulld Created to support the arts in Herefordshire, incluth.ng bursarie$ for students at the Hereford College of Arts and an aDnual Bri￿ Hatton Award to the Herefordshire Young Artist of the year. Bulmer Gilmomr Tts support volulltary and community groups in Heref0rdshi￿, with emphasis on fa]niiie$. H.E.C. Htreford$hire Eduextion Fund. To SUPWE ¢(tu¢ation, including Bursaries for the under- 25's. H.C.F. Herefordsbire Country Falr. A fvnd using any available surplus from the annual County Fair to support the nral COMM￿)ity in H¢refordshire. J04nle5 Thi5 fi]nd, ¢ov¢ring England attd Wales. has a wTrd¢-ranging, tonununity-based folus but particularly welcomes applicatiotts from organis&tl0115 working young peoplc as￿ I I to 25 and is espccially intercsied Jn projctts that lead to emploirynent, accrL4it3tiix), fi]rther ￿uCatIOn, training and ffttegration. It looks for illllovarion ￿ld entrepre])ewship aE]d for $troDg ¢￿d￿¢t of how closcly applic&ot5 consuli people in d¢v¢loping their serric¢, alld for any commwiity involvement or ltral finan¢ial support. Huttt¢r Trow This fi￿d may contribute to tbe runnitig C£k%ts of the Di8mond Jubilee Herefordshire Trow and other similar activities. Jack Hughe5 Fund Established by the Herefordshtre County Proficiency Tests Committee to sllpport the rural cojjunullities acr05S ¢ county. initially w&th rural education requirements and skill etthancement opportth)itiCS. Page130 Continued... HEREFORDSHIRE COMMUNITY FOUNDATION r4otes to the Flnanei*l St8tements- continued for the year tnded 31 Mar¢h 2021 21. REsfRicfED FUNDS- eolltlnued H brid Funds High Sheriff To suppori cort]llkunity and voluntary groups Involv￿ with law and ordei and ¢ommunity cohesiim. Thi5 fimd is regularly aubm)Cllted at)d has ￿nefited froln both goiJemment 5chem¢s. Diamond Jubll¢t Trow Th¢ replica traditional Wye barge la Trow}, built in the first installee to repre5eni Herefordshire ill the Diamond Jubilee Thames Pageant 2nd sub5equelltly to provide advenwre to the yollllg or disadvantaged and to be a source of pride fi)r the County. Flow-throu h Fund5 ConJitlSport5 Relief Used to support work where there is clear evidence of a sustained [￿tficial impact on the lives of people ￿110 excluded or d1SadN￿tag¢d through low incom¢, Furai or s(Kial isolatiOE), age, di5abiliiies, racc, sexuality or g¢nd¢r. Administered acr055 both HerefoTd5hire alld Shropsbire. Survlslng WIDter Grdlkts of up to £3(M) to individuals and families to help pay for winter heating fimded by ttansfer of winter fvel allowance. The Odey Fund Th¢ Odey Fund operat&q in South Herefordshire and North Gloucestcrshir¢. Priority for grdnts is givw to established charitable organisaiions active in the fields of education and youth development fix the age range of 16 to 25 yEars old the secondary element of wider commuttity support gWAts. The Heaton Fund To suppott eon]mwiiiy groups 9￿￿ ¢harities based in L£dbury. Hereffrrdshire Lifestyles To relieve the n¢eds of people with disabilities ￿ltb]ll the c4)unty of Herefordshire. To help individuals l￿d a lifestyle of th¢ii ¢hoice, ￿Ven their disabi]ity. Htreford5blrt RSN To support the relief of mental and physical sicklless of perwlls in HerefordshiTe who sllffer fi'om stress, by the provision of emotional supptyt, practical support arLd advice. To advance the education of the public. including prof¢55ional% in the Significance of 5tr¢ss in nlral con]n)unities. #isvfill Fornially Youth Social Artirn #iwill is a l(>1w-￿ndcd pyogramme aimed ai raisitig th¢ level and quality of youth Social adion aclivities such as campaiglling. fi￿draIsing and volunteeri￿& all of Wnich enable parti¢ipattts to tnake a positive differen¢e to their ComM￿llIeS. Page131 continued... HEREFORDSlttRE COMMUP41TY FOUNDATION Notes to the Fillan£la] Statement5- Contlnued for the ytar ended 31 March 2021 21. RESTRicfED FUF4DS- colltinue Flosl-thro h Ftsnds- continued NET Fund The National EmLY¥￿LCies TFUSt (NET) is an independent charity thai collaborates ￿ryth charities and other btrJI￿ to raise and distribute rnoney at the time of 2 domesti¢ disasttT. Net launc]ied the NET Coronavirus Appeal which has been ￿l￿ded beM"¢en the 46 National Community Foundations to effectively and efficiently support local voluntary and community organisatlolls that help V￿llerable people impacted by the Covid-19 Lyisis. DCMS-IYET Fund The DCMS-NET Fund is fvlldin8 pr?￿ded to NBT by the tkpartmenl of Cult￿[¢, Media gnd Sport IDCMSI froTll the BBC'S Big Night In appeal lo support lo¢al voluntary and com]nunity organisatiolls during the Covid- 19 crisis. Welsh Water Fund The Welsh Water Funo is fi￿dIng donated by Welsh Water (or specific projects within its op¢rational area in Hcrefordshire that are helping to deliver frontline strvices and bringing immeAJiate benefits to r￿lple￿I$ affecÉed by the ComnaTrTrrus palldcmi¢. Barclays Group Fund The Barcla￿ Group Coronavirlts Fund has been divided between the National Con]muttity Foundations through UKCF to fund organisation's project costs, inGludillg salaries, ielatill8 ro Coronavirus emerg¢ncy response. Slck Man's Friend Fund This fijttd was a dotmanl fund thich ha5 been distributed throllgb UKCF to #ll the Cornm￿1ty FouttdatlOll5 to provide support for Covid-19 related projects. Gtorge's George's Fund has been set up by a Trustee of the Foundation to Celebrate the shixt and spe¢ial life tsf George Ptice, to be used to promot¢ the intertsts of Herefordshire's youn8 childre￿. The Hereford Tlmes ChrIstll￿5 Appeal Fund This is fundmg raised by the Heteford Time5 during Christmas 2020. It has been distributed between seven charitics chosen by the Herefordshire's Mayo¥s. Iron Fund A fijrtd LTeated to relieve the needs of people the county of Herefordshire ￿1¢￿ favours projects that encourage ¢ommunity cohesion, issues of i501aiion and disadvantage, and are able to deM<￿￿are IcKal need. Page | 32 continued... HEREF0RDsH￿ co￿￿uN[[y FOUNDATION Notes to tht Finan¢i#l Statements- eontiDued for the year ended 31 March 2021 AONB The Fund provides an oppornll)ity to apply for gr￿1( aid for projects which conserve and enhance the Wy¢ VaLley Atea of OuL8Lqt]ding Natural Btsuty (AONB) and tts seiiing. AONBs are ttaiiollally important land5Lapes, desigmaied for their outstandillg natural aDd scenic beauty. The HCF Wye Valley AONB Fund 15 administercd by th¢ Hcr¢fordshir¢ Cotnjnunity Foundatim and ¢oordillated by the Wye Valley AONB Unit, ba%cd in Monmoutb. The Fund 51WPOrts piojects Th￿l¢b benefit comm￿]ItIeS alld the environn)ent of the Wye Valley Area of Natural Beauty IAONBJ and the area adjoining the AONB boundary (where the majoriry of the benefit is ill the AONBI that is Hcreftsrdth￿e, Gloucest¢Tshire and Mottmouth5hire. The fund s¢eks to conserv¢ and enhanc¢ the local chara¢tcristkC5 of ivildlife, landscape, land use atid commullity. Sustainillg soci&] well-b¢ing and ¢Lonomic wability ar¢ also important aims. Br&ndoll Trust Fund The fvnd aim5 to isnprove ihe lives of people with learnmg di5abiliti¢s in HcrefoTdshire, to promote and eDcollrage them to Use th¢ ski115 that tho have and to be 30 active pan of the IIKal community. GVC Fund The Fund SllPPOfts Ioc21 commw)ities and projects. With & fiKus on 5POrts and healthy adimty projeds, and th118e which support mett's health. Tampoll Tax Th¢ Tampon Tax Fund alL(KaLes the funds 8￿trated from the VAT on sanitary products to Proj￿￿$ that improve the of disadvantaged women and girls. The Tampon Tax Costlmunity Fund aims to support women who ar¢ most marginalis¢d to overcome barriers thst prevent them from fulfilling their potential. The pro￿a￿￿e benefits women and girls, ￿vest￿g in a wide variety of projects. that make a t￿)gible and long-terll difference to hcdth, wLII-bein& confidence and socialleconomic activity, as well as addr¢bsittg equv¢lity gaps. mergency Apptal Fund Funds raised by HCF. in conjunctim with Hereford Time$, to suppon indiiTrdual$, comtnunity groups and chaTiti£s affected by the floods caused by Storni Denlli5 22. GUARAf4TEE Every Thesnitr of the company undertakes to corttribute to the assets of the compally in the ev¢TLt of its being wound up during the time that he or she is a membcr or MTrthin one yw afterwards for payment of the debts and liabilities of the ¢otnpaThy contrdcted ￿fOre he or she ceases to be a member, alld of the c05t5. charges and expense of wrynding up the same and for thc adjustment of the rights of COntriF￿torS arnongst th¢mqelv¢s, sii£h amount a8 may be required not exceedin& in the case of any member, the Sum of £1. Total guarantees at 31st March 2021 amounted Èo £10. 23. GR￿NTs MANAGED ON BEHALF OF THlliD PARTIES The Foundation previously acted a5 an advisor to one other grallt givingbody. A total of £nÈi {2020. £19.91M)) was made in grants by the Pippin Trust, att independent r¢￿St¢T¢d eharity on the Foundations adNry¢e. HCF no Ii)n8er administer the Pippitt Tn]st. Page133 ¢oDtinued... HEREFOIU)SHtRE COMMuf41TY FOUNDATIOFY Detailed St*tement of FI￿anCIal ActlTrltle$ For the year ended 31 Mareh 2021 2021 2020 INCOME AND Ef4DOIIMENTS Don9tion5 and legacie$ Donations Grants 427,600 395,679 153,581 Other trading actlidties FundFaising evellts 765,268 549,260 1,250 Investment income v&qlments 157,812 148,084 Other income MaDage]no]t d)arg¢s 88.369 15,063 Total In¢oming resourees 1.011,449 713,657 E￿[M)lTUR Chlritable x¢tivitles Wages Rent and service charge Postage and stationery Advertisitl8 Sundri¢s Fees, Subs and Trdilltng Bank Charg¢s Computer Maint￿a￿¢¢ Marlagement charge5 Grant5 paid out 62,878 1,614 168 55.125 1.937 521 103 3,382 3,388 222 7,029 1,179 3,443 263 5,974 70.960 567,124 513,764 Support costs 713.603 585,471 GovernancÈ costs Wages Auditors. remuneiation In5uran¢¢ Accountancy aDd legal fees 1,125 3,900 280 2.696 4.020 649 4.669 8,001 Total resources expended 718,272 593.472 Net Income before gains and losses 293,177 120,185 Re&li5ed rttognised gain5 alld 105ses ReRlised gainO{losses} on fixed asset investments 854615 142.052} L¥et incomtl(exp¢nditure) 1,147,792 (21,867) Thi5 page does not formpart of the statutory financial statements Page134