Company Registration No: 4585197 Charity No: 1096454
THE SAINSBURY ARCHIVE
ANNUAL REPORT
31 MARCH 2021
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THE SAINSBURY ARCHIVE (A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
| CONTENTS | CONTENTS | PAGE |
|---|---|---|
| 1 | Report of the Trustees | 2 - 4 |
| 2 | Statement of Trustees’ Responsibilities for the Financial Statements | 5 |
| 3 | Independent Examiner’s Report | 6 |
| 4 | Statement of Financial Activities | 7 |
| 5 | Balance Sheet | 8 |
| 6 | Notes to the Accounts | 9 - 12 |
Report and Accounts – 31 March 2021
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THE SAINSBURY ARCHIVE
(A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
REPORT OF THE TRUSTEES
Legal and Administrative
The Sainsbury Archive was formed as a company limited by guarantee on 8 November 2002 by a Memorandum of Association. The company registration number is 4585197.
The company was registered with the Charity Commission on 11 March 2003. The charity registration number is 1096454.
| Trustees/ | Jon Hartland | Chairman |
|---|---|---|
| Directors | Timothy Fallowfield | |
| Mark Given | ||
| David Hay | ||
| Francesca Perrin | (appointed 13 October 2020) | |
| Judith Portrait | ||
| Alex Sainsbury | ||
| Mark Sainsbury | ||
| Company Secretary | Timothy Fallowfield | |
| Registered | 33 Holborn | |
| Office | London | |
| EC1N 2HT | ||
| Bankers | Child & Co | |
| 1 Fleet Street, London EC4Y 1BD | ||
| Solicitors | Portrait Solicitors | |
| 21 Whitefriars Street, London EC4Y 8JJ | ||
| Independent Examiner | Tina Allison, FCCA | |
| Crowe U.K. LLP | ||
| 55 Ludgate Hill, London, EC4M 7JW | ||
| Objects and Activities | The object of the Charity | is to collect, maintain and display items and |
| documents relating to the history of J Sainsbury plc and its trading | ||
| activities. | ||
| Organisation | The Trustees meet regularly. Day to day maintenance of the financial | |
| records of the Charity | is carried out by the Sainsbury Family | |
| Charitable Trusts’ office at The Peak, 5 Wilton Road, London SW1V | ||
| 1AP. |
Report and Accounts – 31 March 2021
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THE SAINSBURY ARCHIVE (A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
Objectives
The object of The Sainsbury Archive is to advance education for the public benefit by collecting, maintaining and displaying items and documents relating to the history of J Sainsbury plc and the family of John James Sainsbury.
Appointment and Training of Trustees
Article 27 of the Articles of Association sets out the minimum (three) and maximum (currently eight) number of Trustees and the nomination of Trustee provisions. Article 38 of the Articles of Association states that the Trustees may appoint a person who is willing to be a Trustee, either to fill a vacancy or as an additional Trustee, provided that the appointment does not cause the number of Trustees to exceed any number fixed in accordance with the Articles as the maximum number of Trustees. Training is given to new Trustees as necessary.
Charity and Public Benefit
The Trustees are aware of the Charity Governance Code published in 2017 which sets out the principles and recommended practice for good governance within the sector. The trustees recognise that a commitment to meeting the charity’s public benefit is an ongoing requirement and have due regard to it. The Charity has reviewed its governance arrangements against the principles within the code and believes that it is compliant with the code whilst maintaining its need to operate its governance efficiently.
The Sainsbury Archive, which is open without charge, is visited not only by the public generally but also by students, teachers and other academic researchers interested in Britain’s food retailing heritage. The Archive, as referred to elsewhere in the Trustees’ Report, provides an invaluable insight and educational resource into the way in which retailing and shopping habits have changed since the mid-19th century, as well as providing valuable information on the nation’s eating habits over that period, and to that extent it is unique. Not only can the Archive be visited, but there is online access to the Archive catalogue and the JS Journal collection and an extensive website.
Risk Assessment
The Trustees have examined the major strategic, business and operational risks to which the Charity may be exposed and systems are in place adequate to meet such potential risks as the Trustees have identified. The Trustees continue to be vigilant and to keep processes under review.
The Trustees identified the willingness of funders to continue their support to constitute a significant risk. This is mitigated by ongoing review of financial forecasts and the confirmation of support by the key donors over several years.
A further significant risk is the physical risks to the materials in the Archive (from fire, theft etc) which is mitigated by housing the Archive in the Museum of London, with reliance on the Museum’s infrastructure and procedures.
Report and Accounts – 31 March 2021
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THE SAINSBURY ARCHIVE (A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
Reserves
Reserves are held to facilitate the smooth running of the Archive and the Trustees aim to maintain a level that, with known income flows, will sufficiently cover current and future expenditure. The Trustees review the reserves policy annually and are satisfied that this policy will continue to enable the Archive to meet its obligations as they fall due. At the end of the year, free reserves totalled £180,032 (2020: £98,286).
Financial Review
The net surplus for the year was £81,746 (2020: deficit of £10,606) which, when added to the brought forward surplus of £98,286, resulted in a surplus on unrestricted reserves of £180,032 at 31 March 2021.
Grants received in the year comprised £129,036 (2020: £152,035) from J Sainsbury plc and £180,000 (2020: £99,200) from the Sainsbury Family Charitable Trusts.
Review of the Year and Future Plans
The Charity continued to fulfil its objectives as outlined above. As a result of the Covid-19 pandemic, the physical archive was not accessible to the public for the first few months of the 2021 financial year, although access by teachers, students, academic researchers and members of the public via the website continued. The Museum of London has now reopened to the public, albeit with social distancing measures in place.
The Archive’s web resources attract substantial numbers of visitors; the digitised JS Journal collection provides a valuable historical source, and selections from the paper, audio, film and video collection have been transferred to a digital format, both to preserve them and to make them more accessible. The online catalogue makes it possible to access more than 19,000 catalogue descriptions and over 2,000 digital images from the Archive.
Due to the multi-year agreements in place with all of the Archive’s current funder base, it is not expected that the epidemic will have a lasting effect on the financial situation of the Archive. Discussions are continuing on moving the Archive to the new Museum of London site at Smithfields, which is expected to open by 2024.
The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Board on 12 October 2021 and signed on their behalf by:
……………………………………………… Chairman
Jon Hartland
Report and Accounts – 31 March 2021
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(A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
THE SAINSBURY ARCHIVE
STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company/charity and of its net incoming for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Report and Accounts – 31 March 2021
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THE SAINSBURY ARCHIVE
(A Company Limited by Guarantee and a Registered Charity) 31 MARCH 2021
Independent examiner's report to the trustees of The Sainsbury Archive
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tina Allison, FCCA Crowe U.K. LLP London
12 October 2021
Report and Accounts – 31 March 2021
THE SAINSBURY ARCHIVE IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Funds 2021 Unrestricted Funds 2020 Notes Income: Grants receivable 309,036 251,235 Interest and other income 188 754 Total income 309,224 251,989 Expenditure: Expenditure on charitable activities 227,478 262,595 Total expenditure 227,478 262,595 Net incomelexpenditure and net movements in funds for the year 81.746 (10,606) Reconciliation of funds Total funds broughl foNard 98,286 108,892 Total funds carried forward 180 032 The statement of financial aclivities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. Rep)rt and Accouni%- 31 M2rch 2021
THE SAINSBURY ARCHIVE IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 BALANCE SHEET AS AT 31 MARCH 2021 Notes 2021 2020 FIXED ASSETS Tangible fixed assets CURRENT ASSETS Debtors 50,000 242,733 292,733 Cash at bank and in hand 222, 788 222,788 Total Current Assets LIABILITIES Creditors - amounts falling due within 1 year (112,701) (124,502) Net Current Assets 180 032 Total Assets Less Current Llabilities 180,032 98.286 NET ASSETS 180 032 The funds of the charlty: Unrestricted income funds 180.032 98.286 UNRESTRICTED FUNDS 180 032 For the financial year in question, Ihe company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audil of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge the responsibility for complying with the requirements of the Act with respect to accounling records and for the preparation of the accounts. These accounls have been prepared in accordance with the provisions applicable to companies, subject lo Ihe small companies, regime. Approved by thè Trustèes on 12 October 2021 and signed on their behalf by= . TRUSTEE Jon Hartland Thé notes on pages 9 lo 12 form part of these accounts. Rep)rt and Accouni%- 31 M2rch 2021
THE SAINSBURY ARCHIVE IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 NOTES TO THE ACCOUNTS 1. STATUTORY The charity is a cotnpany litnit8d by guarantee Ir8gist8red number 045851971, which 15 incorporated and dorniciled in the UK, and 15 a public benefit 8ntity. The address of th8 registered offic8 is 33 Holbom, Londtsn, EC1 N 2HT. 2. ACCOUNTING POUCIES The principal accounty'ng policies adopted. judgments and key sources of estimation uncertainty in the preparation of the financial statements ar8 a5 follows.. al Basls of pr•paratlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities preparing their aocovnt5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014, th8 Financial Reporting Standard applicable in the United lQngdom and R8public of Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2(X)6 and UK Generally Aecepted Practice as it applies from 1 January 2015. The Sainsbury Archive meets the definition of a publi¢ benefit entity under FRS 102. Assets 8nd liabilities are inrtially recognis8d at historical cost or transaction value un185S Oth8rwise stated in the relevant ccounting policy not81$1. Going Conc8m The trustees are not aware of any material uncertainties that cast doubt on going concem and have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable futur8 as reflected in the R8POrt of th8 Trust8es. Accordin9ly, they continu8 to adopt th8 going concern basis in preparing the financial staternents. Due to the multi-year agreements in place with all of the Archive's eurrent funder base, it is not expected that the Covid-19 epidemic will have a lasting effect on the financial situation of the Archive. bl IncomSng resources Itern5 of income are recognised and included in the accounts based on the following criteria.. lil Giants are accounted for tsn the basis of entitlement, certainty and measuiement. lill Other income to which the Charrty is entitled is included when received. liiil Interest is recorded only when it has been received. cl Resources expended Resources expended are included in the statement of financial activities tsn an accruals basis, inclusivè of any VAT which cannot be recovered. dl Charltable actlvlty The Trustees consider that th8 collection, maint8nance and display of it8rns and docurn8nts relating to th8 history of J Sainsbury ple and its trading activities is the Charity's sole eharitable activity. •) Support and Gov•rnanc• costs Gov8rn8nce costs comprise all costs involving the public accountability of th8 Charity and its compliance with ragulation and gtK)d practica. Th8s6 costs includ6 th8 ind8P8nd8nt exarnination. Rep)rt and Accouni%- 31 M2rch 2021
THE SAINSBURY ARCHIVE io IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 NOTES TO THE ACCOUNTS 2. PRINCIPAL ACCOUNTING POLICIES continued fj Flxod ass•ts Fixed assets comprise computer equipment and are d8preciated over 3 years. gl Heritage assets The Charity has collected assets related to the history of Sainsbury's and its trading activities, which are being displayed at the Museum of London. No cost is associated with the collection of these items and the cost of valuing iterns is considered to be onerous. The assets are Considered to be of historical interest but have no realisable v8lue. Therefore no value is reflected in the Charity's balance sheet. Any pur¢h8se costs of assets in th8 future wll be c8Pitalised as appropriate. DLJring th& year to 31 March 2021 the charity rac8iv8d donations of further Heritag8 Ass8t5 tts add to its collection, at nil ctsst. h) Income Tax The charity Is exempt from tax on income and gains falling within section 505 01 the Taxes Act 1988 or 11 Flnaneial Instruments The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Al the balance sheet dale, the charity held financial liabilities at amortised cost of £112,70512020'. £124,502). h) Fund accounting Unreslricled funds are available to spend on activities that further any ol the purposes of the Charity. 3. LEGAL STATUS al The company is limited by guarantee and has no share capital. bl The members undertake to contribute not more than £10 each if required in the event of a winding up of the company. cl The company is regist8r8d under the Charities Act 2011 and is incorporated in England and Wal8s. Rep)rt and Accouni%- 31 M2rch 2021
THE SAINSBURY ARCHIVE IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 NOTES TO THE ACCOUNTS 4. GRANTS RECEIVABLE During the year, the Charity received grants from the following organisalions.. 2021 2020 J Sainsbury plc The Alan and Babette Sainsbury Charitable Fund The Ashden Trust The Gatsby Charitable Foundation The Glass-House Trust The Headley Trust The Indigo Trust The JJ Charitable Trust The Linbury Trust The Mark Leonard Trust The Staples Trust The Tedworth Charitable Trust The Three Guineas Trust The True Colours Trust The Woodward Charitable Trust 129,036 5,000 5.000 50,000 5.000 25,000 5,000 5,000 50,000 5,000 5,000 5.000 5,000 5,000 5,000 152,035 1.500 3,000 32,000 3,(0 12,700 1,500 3,000 32,000 3,000 1,500 1,500 1,500 1,500 1,500 309 036 251235 S. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES 2021 2020 Dlrèct costs Archive running costs New project costs 184.188 40,884 790.306 69,945 Support and govgmancg costs Sundry expenses Independent examination remuneration 14} 2,410 2,340 227.478 262.595 The Charity employed no staff in the year12020.' nill No Trustees received remuneration or were reimbursed expenses during the year12020'. nil). Rep)rt and Accouni%- 31 M2rch 2021
THE SAINSBURY ARCHIVE 12 IA Company Limited by Guarantee and a Registered Charilyl 31 MARCH 2021 NOTES TO THE ACCOUNTS 6. TANGIBLE FIXED ASSETS Archlve Material Computer ui ment Total Cost Al 1 April 2020 and 31 March 2021 25 7,785 7,810 De recialion At 1 April 2020 and 31 March 2021 25 7,785 7,810 Net Book Value at 31 March 2021 Net Book Value at 31 March 2020 7. DEBTORS 2021 2020 Accrued income 50,000 CREDITORS 2021 2020 Accruals Independent examination fee Sundry creditors 110,291 2,410 122, 158 2,340 112701 124 502 9. COMMITMENTS The Charity has a legal agreement with the Museum of London Docklands to loan them the material of the archive until 31 March 2022. 10. RELATED PARTY TRANSACTIONS Four of the TrusleelDireclors are also Trustees of the Gatsby Charitable Foundation, the Glass- House Trust, the Headley Trust, the Indigo Trust, the JJ Charitable Trust, the Mark Leonard Trust, the Staples Trust and the Tedworth Charitable Trust. Amounts included in Grants Receivable for the year includes amounts from the organisations named above, as itemised in Note 4 to the accounts. Rep)rt and Accouni%- 31 M2rch 2021