Registered number. 04855173 Charity number: 1100784 THE GRIERSON TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 AB94RGNN 27107r2022 COMPANIES HOUSE A14 #219 THE GRIERSON TRUST CONTENTS Page Reference and Administrative Detslls of the Charity. its Tru5tee5 and Advise Trustses. Report Independent Examinerf5 Report ststement of Flnancial Activities Balance Sheet Note$ lo the Flnancial Statements 10-17 THE GRIERSON TRUST REFERENCE AND ADMINISTRATIVE DETALS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees L Heggessey B J Anthony S L Chinn G Davies N Dhand lappoinled 8 September 2021) PJFDixon A Flanagan (resigned 30 June 2021) D Horan M E Kaplan JMVQuinn F Salaria K Soloman lappoinled 8 September 20211 R SI8F4edon D Taberer K Townsend {￿signed 18 May 20221 M E Watson lappointed 8 September 20211 A R Worboys (appointed 8 September 20211 Company reglstered number 04855173 Charity registered number 1100784 Reglstefed office 5 Elslree Gate. Elstr& Way. BorehaM￿￿0d. Hertfordshire, W06 IJO Company secretary E M Flem￿9 Chalr L Heggessey Accountants Sopher + Co LLP, 5 Elslree Gate. Elstree Way, BOreham¥￿0d. Hertfordshire, WD6 1JD Page 1 THE GRIERSON TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees present their annual report together 7Mih the financial slatements for the ye¥ lo 31 December 2021. The Annual Report seryes the purposes ol both a Trustees. report and a éire¢tors' report under company law. The Trustees confirm that the Annual Report and financial stalements of the charitable company comply wlh the current statutory requirements, the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Prath"ce ISORPI applicable lo charities preparing their accounts In accordance wlh the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS102) leffects.ve 1 Jènuary 20151 as amended by Uwlate Bul￿tin 1 {effeth"ve January 20151. Since the Charity qualifie5 as small under section 382 of the Companies Act 2C(IS. the Strategic Rewt rwired of medium large cL)mpanies undef the Ccfflpanies Ad 20C6 (Strate9ic Report and Directors, Report) Regulations 2013 has been omitted. Structure• governance and managernent Constltution The Grierson Trust is registered as a cthan"tabie company limrted by guarantee arMI was Set up by a Memorandum of AssLxialion. b. Methods of appointment or 8[￿11¢n of Twstees The management of the Charity is the ￿SPOnSI￿.11ty of the Trustees are decled and ¢(>opted under the terms of the ￿"¢le$ of Association. Objectives and actlvltles c. Policies and obJe¢tiV86 The Charitys objects are to advar￿e education and Fyomote Ihe arts for the public benefrt by the promotion and encouragement of higher standards of excellence in IPJe making of d(Kumenlary films by awarding out of the income of the Charrty the awards known as Ihe G[￿r$On Awards and other annual prizes prevTrously awarded by The Grierson Memorial Trust. ￿1¢h was established by Trust Deed dated 11 December 1974. or by awarding such other prizes and carrying on such other activities as the Trustees of the Charrty may in their th'screlion. determine wll promole and encourage SLth standards. The Trustees of The Grierson Tru51 have corn￿11ed vthh the duty in s_4 of the Charities Ad 2011 to have due regard to the public benefit guidarte published by the Charty Commission in administering the Trust. in determining achievements against the aims they had set for 2020 * in planning a¢tivites for 2021. Achievements and perfomiance a. 8ackground The overall financial ¢>Atum frryn the Charrtvs ￿tI￿￿"eS ￿ 2021 was a surplus of £30,374 compared with £110,920 for 2020. The decrease in S￿r￿U$ was due to the fact that the invperson avords ceremony bfds able to take place in 2021 unlike 2020 whieh saw an wusualty high surplus due lo red￿￿ costs dunng the pandemic. Page 2 THE GRIERSON TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Strateglc report (CONTINUED) hievements and perfomiance ICQNTINUEDI b. Activiti•$ in 2021 OurirrfJ 2021 the Chartys acliwties inclu(1ed'. Awards Hosted by Patrick Kielty. Ihe 491h annual Britssh Documentary Awdrds were held on 10 November al Queen Elyzabeth Hall. Soulhbank Centre, London. The ceremony was also IKOad￿$t via YouTube. 17 awards were presented in categorie5 induding Best Sports Documentary and 8esl Music Documentary, which were both new categories this year (Music was separated out frorn Best Arts or Music Documenlaryl, Best Natural Hist¢)ry or Environmentsl Documentary, Best Constnxted Documentary Series, Best Single Documentary - Oomestic and the Twstees. Awar(J for Ihe wort of an outstanding individu81. The Trustees, Award went lo Tabitha Jackson. There was also a new spwal a￿ard. the Grierson Hero of the Year Award. which went to Some¢￿ working behir**lhe-scenes in Ihe industry who had gone the extra mile in their role. The Best Cinema Documentary category was paused this year due to Ihe COVID pandemK, as anemas were closed for a large PLY1K￿ of the film sueening eligit4.lity period. The Charity benefitted from ￿tsnued sponsorship frcln Ihe BBC, Channel 4. Channel 5. Di￿0very. Nefflix, The ' Open University. The Rumi Foundation and YouTube Origina15. A113Media y￿re headline sponsors for the fourth year running. New spLYisors for 2021 y￿re Sky Dccument3ries and Molinare. Sponsorship in kiThJ was provided ty new digit81 trfoadcast partners Little Dot Studios. The British Counal. Envy. Televisual Magazine, The Kit Room and Talenl Manager continued their support for 2021 and Storm was a new supporter in kind for ttss year. For the event the Charty pathered wth the Film and TV Charity for the second year. Donations again were encouraged in support of freelan￿ workers were not ¥￿e to tr*nefft from Govemmenl support throughout the pandemic. but losl W￿rk and income. Stafflng The Charity secured fundirKJ frcrfn Netlix to 2 besFoke Grierson t)ocLab sthemes lo ￿ug industry ski115 gaps in production management and offline edib"rKJ. The funding also enabled the Charity lo ernploy Joseph Black as A¢Jminislratsve Assistant on a 12 month conlrxl to supp)rt the team in delivering the training stheme$ and supporting the growing Grierson DocLab Aumni network. Grlerson DocLab In 2021 the Charrty ran the Griefson DocLab training and mentoring scheme ￿ young people 89ed 18-25. as well as the 2 new Nefflix-supported Grierson DocLab In Focus schemes for production rnanagemenl and ediliro foi Ih05e aged 18 and above. Al 3 scheme5 were delivered online Via Zoom due to continued kjckdowns and restrictMs. For the core Grierson D￿Lab scheme, 16 parts'cipants were recrurted and for each In Focus scheme. there were 8 trainees. For every scheme, doU￿e the amount ol people were invited to interview as there were places. Recrurtment also moved online for all 3 schemes. with online inlerviews saving money and improving the Charitys sustainable recruitment aims. Of the 16 trainees for the core seheme. 10 I￿rnen and 6 were men. 3 people had a disability, 7 were from an ethnic minonty background and 12 lived ￿Ls￿le of London. This is in line with our mission lo reach the kind of young people who might olhefWi5e not gel a chance to start their career5 in documentary pr¢)JLKtion and lo increase the ethnic. s0o￿e¢0rK)mlc. gender aTrJ rwonal diversty of new enlranls. Page 3 THE GRIERSON TRUST TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Strateg1¢ repert (CONTINVEDI Achlevements and perforrnance ICONTINUEDI The Grierson DocLab core ￿heme comprised a week-bny training course in May. an online industry pass lo Sheffield DoclFesl and folltyv up online trainirwJ in camera and ed￿"n9 ski115 throughout December and January. Each trainee was matched wlh a mentor. some of %¥*om are Truslees. The trainees also had 2 or 4 week work placements. many working remotely and in-person at a UK television muction company. The Charity provtsded the trainees with a tryjrsary for Ihwr placement equivalent to the living wa9e. Ongoing support for al least 12 months is provided by the Cttanty and the mentor5 provKle swport for a minirnum of 6 months. Companies who provided placements for the 2021 cohort were BBC Studios, Blast! Films, Box lo Box Films, Dragonfly TV. The Garden. Lightbox. th'nnow Films. Plimsoll Piodu¢b'ons. RAW. Ts%enty Twenty. Wall to Wall and Wise FilmslA113Media. Funding f(￿ the stheme was wured frL¥n Nefflix and The Rumi FoLndation. The scheme is 81s0 supported iTrkind by Blueberry Cieaiives, th prO￿ded 1 10 1 career coaching sessions lo e8eh trainee, The Kit R(x)m who provided cameras and souThJ recording equiKthent and Cbear Cut Pictu￿5 who Fyovided training on pQstprc#J￿tiL￿} w￿k￿0WS. Applications for the 2022 Grierson DocLab stheme opened in December 2021. Grlerson Do¢Lab In Focus Schemes Of the 8 trainees for the ed￿"ng scheme, 7 V•Eft women and 1 person was mTrbinwy. 4 were from an ethnic minority background, 2 were disabled and 4 from (Njtsth London. Of the 8 prtsJu¢lion management scheme trainees, 6 were female and 2 were male. 2 people were from ethnic Mir￿rity backgrounds. 3 were disabled and 7 were based outside London. This is in lir￿ ￿th our mis￿on to provhde opportunities mentioned earlier. The editing and woduction management schemes comryised week-¢ong training courses in April, each trainee was matched wth a menlor and all Ir8inees have been matched vAlh paid eonlracts on Netflix documentary prOducti￿S over the year. some placements remaining outsianding due to work. pr(yJuction ￿heduling an(1 other factors. These placements wll te fulfilled ¢)ver ccyjrse of 2022 in partnership with Nefflix. Grferson DocLab Alumni Throughout the year the Charty also continued to stay in cornmunication wth and supported Ils network of Grierson DocLab Aumni, of which there are rKJw 125. Job opportunib"es, online ne￿￿rkIng events, regular check in5 and more We￿ offere(J to the group. Page 4 THE GRIERSON TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 strategic report {CONTINUED) Achievements and perforrnanee (CONTINUED) . Governance Continuing the process of succession managemer¢t. in accordance wlh the Charitys Arb"cles of Association Nelesh Dhand, Krislina Solomon. Maxine Walson and Andy Wort)OJs were appointed lo the Board during 2021. The￿ was one reS￿natIOn during the year from Amy FIan￿an stepped d¢)wm before her full term due to family commitm￿1$. Kathryn Townsend resiw in 2022. Flnan¢ial revlew . Going concern After making appropriate ewuiries, the Trustees have a reaSona￿e expectati￿ that the Charity has adequate resources to ¢ontinue in Operation￿ existence for the foreseeable fLrture. For this reason they continue lo adopt the going concern basis in preparing the financial slalements. Further details regardiThJ the adoption of the going concem basis can be I￿rKI in the Accounting Policies. b. Reger¥es policy It is the policy of the Charity that unrestricted fvnds wh￿h have not been designated for a sp￿lfi¢ use shoul¢J be maintained al a level that will ensure that, in the everrt of a signtficant drop in fvnding, the Chanty will be able lo continue the Charity's current actM"ts"es ￿lIe consideralim is given lo vrays in which additional funds may be raised. The Trustees consider that a of £100,OLKI is required for this wrpose this levd of reseryes has en maintsined IhrowJlK)ut the year. In preparing this report, Ihe Trustees have tak￿ ad¥￿tage of the small companies exempts'ons provided by section 415A of the Companies Act 2006. Approved by f Trustees 8nd Si￿ed on behawty. L Heggessoy Chair Dale.. 201712¥ P&Je 5 THE GRIERSON TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRIERSON TRUST I'the Charity.) I report lo the charity Trustees on my eThnination of the &comts of the Charity for the ye* ended 31 December 2021. RESPONSIBILrriES ANO BASIS OF REPORT As the Trustees of the Charity land its direct(Ks I￿ the wrposes of company lawl you are responsible for the preparation of Ihe accfyJnls in a¢￿dance with the requirements of the Companies Act 20061'lhe 20(￿ ACVI, Hawng satisfied myself that the accounts of Ihe Charity are not required to be audited under Part 16 of the 2006 Act and are eligi￿e for independent examination, I report in respect of my examination of the Charitys accounts arried out under 5ecb.on 145 of the Charrties Act 2011 1.the 2011 Act). In catrwng out my examination I have followed the Directions given by the Charity Commission under sects"¢)n 14515){bl of the 2011 Act. INDEPENDENT VAAMINER'S STATEMENT &'nce the ChariW5 gross I￿orne exceeded £250,(th y￿1 exarniner must be a member of a body listed i) section 145 of the 2011 Act. I confirm that l am qualified to Lndertake the examination Lwuse l am a member. of ICAEW. bvhich is one of the listed bodies. I have compleled my examination. I confimi that no matters have come to my attention in connectK)n wtth the examination giving me cause to beI￿ve.. aC￿l￿ting records were r¥)1 kept in respect of the Chanty as required by section 386 of the 2006 Act.. c¢ the accounts do not accord those records.. the aec(yJnts do not COM￿ the accounliro requirements of Secti￿ 396 of the 2006 Act other than any ￿qUirement that the 8ccwnts give a 'true aTrJ fairf vie* vthith is not a matter ￿sidered as part of an independenl examinati￿.. or the accounts have not been prepared in accordance the meth(%Js and principles of the Statement of Recommended Practice lor accounting and repOrt1￿j by charib.es [appI￿able to charities preparing their accounts in accordance wth the Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)]. Page 6 THE GRIERSON TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 I have no concems and have come &ross no other matteTS in ccfftneckn wlh the examinaliorb lo which attention sht)uld be drawn in this report in order to enable a Fryer understanding of the accounts to be reached. Signed= Dated. 22 lo412oll H Young ICAEW SOPHER + CO LLP Chartered Accounlanls 5 Elstree Gale slfee Way 8orehamwood Hertfordshire WD6 1JO P￿7 THE GRIERSON TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021 Unreytritted funds 2021 Total funds 2021 Totsl funds 2020 Nots INCOME FROM: Voluntary Income Activities for geneTth"ng furnls Investment Income 16.000 357.942 1.256 16.000 357,942 1,2S6 93.500 232,455 2.390 TOTAL INCOME EXPENDITURE ON: Raising funds Charitable activities.. Mentoring costs Governance costs 375.198 375,198 328.345 286.378 286,378 157.224 42,840 15,606 48.015 12,186 1S.606 TOTAL EXPENDITURE 344.824 344,824 217.425 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Tolol funds brought forward Nel movement in funds 30.374 30,374 110,920 317.920 30,374 317,920 30,374 207,000 110.920 TOTAL FUNDS CARRIED FORWARD 348.294 348,294 317,920 The Statement of Financial Activth"es Ind￿￿eS all gains losses recognised in the year. The notes on pages 10 to 17 fom p8rt of these financial ststements. Page 8 THE GRIERSON TRUST REGISTEREO NUMBER: 04855173 BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Note FIXED ASSETS Tangitrje assets CURRENT ASSETS 2.624 Oeblors Cash at bank arKI in haTrJ 10 37.393 348.117 38,489 397.695 CURRENT LIABIUTIES 385.510 436,184 Creditors.. amounts falling due ￿thin year 11 (39.1841 1120,8881 NET CURRENT ASSETS 346.326 315,296 TOTAL NET ASSETS 348.294 317,920 CHARITY FUNDS Restricted funds UNeslricted fvnds 12 12 317.920 TOTAL FUNDS 348.294 317.920 The Charity was entitled lo exempts'on frtyn a￿Jit section 477 of the Companies Act 2006. The members have r￿1 required the company to obtain an audrt for the year in question in accordance with section 476 of C¢)mpanies Act 20[￿. The Trustees acknovAedge thar resF