Registere(I number: 04957219 Charity number: 1101831 THE ANGLO-AMERICAN CHARITY LIMITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 •A8UZ34E3* 11101r2023 COMPANIES HOUSE #224 THE ANGLO4MERICAN c￿ARITy UMITED CONTENTS Page Reference and adminisvaii¥e det•ils of the charitable company. its tnsiees and ad¥i5ers Trustees. report Trusiees. r¢$ponsibblities ststement Independent auditor'5 report on Ihè financial $tst•m•nts Sthiemeni of financial activities 10 8alance sheet Statement ol cash Ilows 12 Notes to the financial staternents 13-22 THE ANGLO-AMERICAN CMARITY UMITED REFEREblCE ANO ADMINISTRAnvE OETAILS OF THE CHARITABLE COMPANY. ITS TRUSTEES ANO AOVISERS FOR THE YEAR ENOED 31 DECEAIBER 2021 Tru5¢ees SEHorw A IAI R Eichhorn JJWalls Company re9islered nurnb¢r 04957219 Charity regiSter*d number 1101831 Re9lStered oifice 10 Norwich Stre London EC4A 180 Page 1 THE ANGLO-AMERICAN CHARITY LIMITEO TRUSTEES. REPORT FOA THE YEAR ENDED 31 DECEMBER 2021 The trusfees, who are a150 directors for Ihe purposes of the Cthnpanies Acr. present their amual report together with Ine audited financsal siaiements d rhe charilable company Ior the year ended 31 December 2021. The annual report serves the pU￿oseS of both a injstees, report and • directors. report under company law. The trustees confirm that Ihe annu* feport and financial stateff*nt$ of the Chari￿b￿ company ￿mplY Mth the currenl staiutory requiremenis, Ihe reouifemenis of the charioble companys goveming document and the provtsions of Ihe Siaiefflenl of ReGG¥nmended Praciice ISORPI applKabTre to chafittes weparin9 their aecounls in accordance the Finanoal Reporting Standard applicable in the UK and Republic ol I￿land IFRS102) {effeawe l January 20191. Since Ihe chariiable company qu*rf*s as small under section 382 of the CompanE5 Act 20rA, the strategic report requi￿ ol med¢um WKI targe ¢ompanie$ under the Crynpanies Act 20CIS {Stralegic Report and Diie¢tors' Report) Regulations 2013 has been omitted. ObjectiV¢s. activities and financlal review a. Policiés and objectives The principal #t￿lty of the chantable company t￿14nue￿ to be lh* of ￿rfornInY chartable functions. in particular, in support of educational and he&llh ￿lated woieus in the United KirKJdom, Unite(J States of America and in ihe deve￿)p￿9 ￿¥>￿¢J. The chariiabie COMp￿Y m*s 9ranis to ￿her prwe¢ts itt• support its ¢haritstAe aims, includirtg Its parent hariiabie lound&on. There have been no changes ￿ the obJecli¥es and Oicies of Ihe chaiifable company during Ihe year. In setting objedives and planning for adivilies. the Irustees ha¥e given due considerat￿n lo general guidance publishe¢ by the Charity Cc*mmission relating to publt benefil. including the 9uidance.PubI￿ benefil running charity IPB2}'. . Activities undertaken to achieve objectives The Chariiable company c￿lInued to raise funds from US n*tha15 resKling in Ihe United Kingdom to a851S1 IranS-AtlanI￿ phijanthropy. c. Key performance indicaw The ¢haritsble company awns io M￿Mile donatty inc(wrE so that rt can not maintain but increase its charilable giving. d. Financial review and main ￿hl￿ements The resurts for the year and Ihe financol positbon ai the year end were ￿n$￿Iered SatisfaL￿ry by the tnjstees wrth donation income rising from £2.535.096 10 £2,653.C61. t)onations made fell frL¥D £2,089,824 to £1.647.261. Ihe fall was mainly due to the timing of ¢Jonatw income and sffjnificant knels of tJ¢)nationy We￿ made in earty 2022. As a result the nei movernent In funds rose frcrfn £398.866 to £966.21B. The trusiees are giaieful for Ihe substant￿1 dO￿l￿S ￿Ned from boih iTrJNidua15 and tyganL8aii)n$ during tne year. é. Going cmcern Aller making èppiopriaie enquir*s. the Irusiees have a reasonable expectation that tne chantable company has adequate resources to continue in oFeraiKxbal existence for the foreseeable future. For this reason, they coniirtue io ad¢Jpl the 9Oing ¢Dn¢ecn basis in pfeparin9 Ihe finana85 slatemènts. Further detail$ regarding ihe adoption of the 90ing concern b8SiS ¢an be found in the ¥¢¢ounibng pts11¢￿. Page 2 THE ANGL￿AmERICAN CHARITY LIAIITED TRUSTEES. REPORT ICONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2021 Obje¢iive$. activit￿$ and financial ￿vIeW Iconlinuedl f. R•sev4es policy ReseNes as ai 31 Ckcembei 2021 comwise ol unresiroed funds of £1.520,661. The trLtstees have tak￿ the view thai ¥( this sWe they do no need lo have in place any feserves policy. The charitable Company itsaff ts not financial tharity having fixed cosis or frJ￿ard obligaiK)ns. The Iwsiees are entitled 10 land dol apply resource5. consisling of donaiions Irom members of the public. for such charilable Purposes as they decide from time to lirne, and it is noi iheir io commil Ihemselves in advance to Spear￿ expendilure on future planned activit￿. Structur•. 9o¥ernan¢e and man•9em*nt a. Struciure and tm$t•es The chaity is constiluted as a company limited by shares and was incoryxv￿ed on 7 November 2003. The harrtable company was established under a Memorandum of AsswatK)ft which eslablished the obJ'e¢ts artd powe(s of the charitable company and is 9ovemed under its Art￿leS ol Association. In the event of Ihe ¢hartsble company being wound UP the rnembe¢s Ir4bility is &"miled to Ihe issued share caprtal of the chariiable company. The trustees are responsible for ihe direc11￿ aNJ manwJernent of the charty. The Gharitat¢le company has dispensed Mth Ihe need io convene an AnnLkql General Meeting each year. the need io lay financial s￿leMen(S befcwe Ihe Annual General I￿e*￿9 and the need to reappoint auditors annually. The ¢ireet¢YS and rrustees who served Ihe charithie company yew were aB folkNB'. S E Howich A W R Eichhom Sub$equ*ni to the year end. J J Watts was appointed as a trL*tee on 17 2022 and J L Hedge$ and K V Hedge5 resvJned on 31 •Aarch 2022. b. Organi5atioftal structure and decision4Nking policies Trustees a￿ appclnied ai the discreiion ol ihe e￿sting trustees. The existing trustees are ￿sponsible for the induclion of any new Iriistees which Invotves awareness of a tnjsiee's responsibilities. the goveming doeumenL adminislralwe procedu￿$ ihe hi511Yy and phibsophul approach ol the charilabte wmpary. c. Related party relaiionships The charbliable company 15 the w1￿#Y ¢Mned subsKJk7ry of The AngW4merKan Charitab￿ Foundation Lirr4ted. US putslic charity. li exists as a sepafaie entty In order lo facilitate donatKJns to the US charity. d. Financial risk managemeni The trustees have assesse(I Ihe major risks io wluch the chantable ¢fyYwny is exposed, in particular those relaied 10 Ihe operations and finances of Ihe charitable cLYnpany. and are 5at15fied thai systems and pwdures are In place its rnitvJate exposuie 10 the major risks. The trusiees consider Ihe main curreni fisk lacing the chairtab￿ company ¢0 be a decline in tjonaiion income but the risk of an ad¥ew effect on cash flow ss mil￿ated by ihe ￿Ve1 ol suppryt costs. Page 3 THE ANGLO-AMERICAN CHARITY UMITEO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OECEMBER 2021 Futufe developments The trustees expecl the charitable c¢y￿any lo at re&*"n ts curienl knvel ol ¢haritablv a¢tivIti￿ far the loreseable futu￿. Oisclosure of inlomiailon to auditor Each of Ihe pe￿OnS who are tru*ees * ihe lime when this irusiees, re￿ is ¥pffjved has conf1m￿d th*.. so fac as thai trustee Is aware. thefe is no ￿levant audrt infomiaiion of which the chaiitys auditor 1$ unaware, and Ihai trustee has taken all ihe sleps thai Ixi9hl 10 have laken as a trustee in ordei to be aware of any ielevanl audit infomiaiion and ￿ eS￿bItsh thai the chantys audrtof is ￿are ol that inf0miatlr￿. Srnall company exemptions In preparing thi5 report, the direc￿r$ have tsken *J¥an* of the small companies exemplions Pfov*Jed bv Sect￿ 415A ol ihe Companies Aa 2006. Approved by ordef ol ihe members ol Ihe board of trusiees aThJ ￿ne111)rt Iheii beharf by.. S E Horwi¢h Trustee Date.. Page 4 THE ANGL(MMERICAN CHARITY UMITED STATEMENT OF TRUSTEES, RESPONSI8IUTIES FOR ThE YEAR ENDED 31 DECEMBER 2021 The trusiees Iwho are also Ihe dIre￿OrS tsi iht chariiable Gompany for the purposes of company lawl are responsible lor preparin9 Ihe Iruslees. report and the financkil stslernenls in accordance wilh applicable law and United Kin9dom Accountin9 Stsn(Jafds Iuniied Kin94kn1 Gener&VyAxeoed Accounting Piacti¢e). Company law tequires the tw¥ee$ to prepare financial st*emenis lof each finanual ￿ar. Under company I￿. Ihe InJSlees musi ntsi approve Ihe financh31 siatements urt￿$5 ihey are Saiisfied that they give a irue and fair v ol Ihe stale of affairs of Ihe charitsble company and of its in￿ming ￿SOU￿e$ and aPpl￿tIOn of resources. including ts in¢ome and expend41yre, f￿ ihat per￿￿. In prep¥H)g th￿ finwual suwmnts. Ihe tnJslees ère iequired to.. select Suitab￿ accounting pc41￿5 and then appty Ihem cons¢stenlty', observe the rrelhods an¢Y prinGiples ol the charit￿ SORP IFRS 1021". make judgments and ac¢ountin9 esiwnates Ihat are ￿SOnable and prndeni". stale whether applicab￿ UK Accountin9 Stsndards IFRS 1021 have been lolkA¥ed. subject to any m*¢rial epartures disclosed and explained in ihe finanual slatements, wepare ihe financial slatemenis on the going concern basis unless Il 1$ Inappropriate to presume that the charftable company will coniiThJe in ￿SIness. The Irusiees are lesponsib￿ for keeping adequ*e aCC￿NIrMa thai a￿ Suir￿ent to show aftd explain the charitabte ¢inW. Con¢lugions ￿lating to goin9 concern In auditiryJ the financial $￿te￿nIS. ha¥e condudgj thal the iwstees, use ol the 9Lwn9 corKern basis ol accouniing in (he preparation of the financial appropr&4te. Base(l on the work we have perfonned. * have sw ideniifod any ma*n¥ ￿Ce￿int*S relatin9 to events of condilions Ihat. indiv￿lUa1ty or colieclwety. may cast Signfficant dtyJbt ￿ the chantable companys ats'lity to continue as o goin9 Concern for a period of at least twefve month5 from when the fmoncial staiernents are auihorised lor *s5L￿. Our re5ponsibdiiies and the responsi)IliiPS of ihe Irustee5 with ￿sPeCI to gtyng concern are d¢5cNbed in the ewan¢ seciM)ns of this report. Page6 THE ANGLO-AIAERJCAN CHARITY UMITED INDEPENDENT AUOITOR'S REPORT TO THE MEMBERS OF THE ANGLOAMERICAN CHARI LIMITED ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Oihet irtfomiation The other information crynprises ihe inftmtw I￿￿￿e￿ in the annu•l report other than the finantyal siaiements and our audito¢s ￿port Ihereon. The trustees are responsible for The other infQrn)at￿)n Gontained wilhin the annual report. Our opinion on Ihe financtal statements does not cover the other infornation and, eX￿t to the extent olhemse explicit￿ siaied in our repofl, we do noi express any fom ol assurance conclusion thereon. Our responsibility 1$ to read the olh¢r inlrniion and. in doirg so. cwsidef whether th¢ othei informatKJn 15 materially Inconsisleni wilh the fin8nci81 513tements or our kn¢ywledge obtained In the ￿Urse of Ihe audit, crf othefwse appea(s to be materially Missla￿d. 11 we K1entfy such maierial inr#mStster￿￿ or apparent maleriol misstsiemenls, we are required io determine wh¢lhEr Ihis give$ w io a material misslaiement in the financial statements themselves. 11, based on the work we have perforrned. we condude that Ihere is a mateiial miSs￿leMent ol Ihis Oiher in10m￿￿Ort. * afe wuwed 10 report thai laci. We have nothiNJ to iepon in this regard. Opinion on othér matt•ts wèscribed by thè Companies Act 21)06 In our opinion, base(l on the wc*k undertaken In the (our5e of the audbl." the inforrnalion given in Ihe Trusiees, repryl for ¢he fin￿￿al year for whth the fI￿nCl?1 5tstements are prepared Is (￿SIstenI with Ihe finarKial 5taiernents. Ihe Truslees. report has been prepare(I In accordance applKable Wl iequir8ments. Matters on which we afe required to report by exception In Ihe light ol our knih¥ledge and undef#andirvJ of the thariiabk comwy antj its environment obtained in the ¢ou(se of Ihe audil, we have not identif*d mater471 ￿$￿*ments in the Tru$lees' ￿Port. We have n0thW￿ TO report in respecl of Ihe f(knrMJ matters ￿ rela￿n to which C(*npanies Ad 2006 requires us to report to you il, in opinKJn'. adequate a¢¢4unling re￿r￿S have ftot been kepi. or feiums adequate for our audit ha￿ been received from branthe5 not Visited by u5." or the financwl siaiements afe in ayfeemeni w￿1h Ihe accouniing records and retum5: or ¢ertain disck)sufes of irusiees. rernuneraiion speofied by W are not made" or we have noi feceiveij all Ihe inlorrnalLon and expknations * wuire lor our audit,. or Ihe truslees were r￿1 entitled lo prepare the financial slatement5 in acco￿anCe wth the small Gompanie$ fegime and take advantage of the small oynpan*' exemptions in prepariThJ the Trustees, réport and Iiom the ￿qUirement io P￿Pa￿ a Sirtegic rep Responsibilities of iru$i8ès As explaine¢J rn0￿ fuly in the Irustees. re5F4)n5ibit￿1les stalerneM. Ine trus￿ (who a￿ also the direuors of the Gharilable company for ihe purposes of company lawl are responsible for the pr¥paratk)n of the finanryal siatemenis and lor being saiisfed Ihai ihey give a Irue and fair wew, and for such internal ¢onirol as ihe fnjsteeg etermine is necessary to enable Ihe p￿parat￿n of f4nan¢ial siaiemenis that are free from material mis51atement, whelhef due ￿ Iravd or errL¥. In prepariNJ the financial 4aiementS. Ihe Wusiees are responsible for assessing the ¢haritsble mmpan￿5 ability to continue as a going concern, disc1051ng. as applicable. martets related 10 90ing concern and using the going Concern bas15 of accounting unless the IrUs￿eS either Ifi￿nd to IK4uthte Ihe charrtable Gompany w to cease operaiions, or have no realist￿ alternalive bui 10 do 50. P4e7 THE ANGLC%AMERICAN CHARITY LIPAITED INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ANGLOthMERICAN CHARITY LIMITED ICONTINUEOI FOR THE YEAR ENDEO 31 DECEMBER 2021 Auditorfs ￿sponSibl11t1eS for the audii of ihe finan¢i•l Stsiemenls Our objectives are to Obtain reasonable assucance aboth whether the finanaal S￿leMentS as a whole ar¢ free Ifom material miss￿temen1. wheiher due 10 frautj or error. and to issue an audil0rf5 report that includes our Opinion. Reasonable assucance is a high level ol aSSuianGe. but is not a 9¥arantee thal an audrt condLthd in accordance wilh ISAS IUKI wll always detect a ma*iial M￿tstement when rt eKlSts. MisStateff*nls can arise from Ifaud or effof and are consKlered matèrial if. indivKILtalty or in the aggre9*e. they could reasonabty be expected 10 influence the ewnomic deusw5 01 users taken on the basis of these financlal staiemenis. Irregulariiies. Including fraud. are instances ol nonAMERICAN CHARITY UMITED INDEPENDENT AUDITOR'S REPORT TO THE IIEIABERS OF THE ANGLO-AMERICAN CHARITY LIMITED (CONTINUED FOR THE YEAR ENOEO 31 DECEMBER 2021 Maierial misstaiements thal aiise due to fraud can be hardef to dele¢i Ihan those Ihal &ise from error as Ihey may In￿fve delibèrnte concealment or tollusK)n A further descripiion ol oui resportsibililtes lor ihe audti ol rhe financial Statements is tocaied on rhe Fina￿181 Reporting Councbl's websiie at." w*MM.fr klaLKlstotsres on%￿". This descript** lom￿ port ol our 8udilorf5 report. Use ol t)Uf feport Tltis report is ma¢Je solely 10 Ihe chafiiabk companls members, as a body, in accordance wrth Chapter 3 of Part 16 tsl the C¢rnpanies Aci 20C6. Ou¥ audil woth has been undertaken $0 ihai we might state to the chantable ¢ornp¥ny's rnembers those mallers we are requiied io stsie io them in an audiio¢s feport and lor no Other purpose. To the lullest exlent pefmitted by Law. we do aceept or assume responsibilty to anyone other than Ihe Chamable ¢ompany aThY ils members. as a bc**. for our au¢Jit wortt. lor this report. or for the opinions we have formed. }I,.k LLP Chii$iopher Sh¢phord Is•nior stst iory auditor) lof ano on Denall ol Blbck Roth*nberg Audit LLP charte￿ Accountants Sialulory Audiloi 16 Great Queèn &reei Covent Garden London WC28 SAH Date". Page 9 THE ANGLO4MERICAN CHARITY LllJllTEO STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME ANO EXPENDITURE ACCOUNTI FOR THE YEAR ENDEO J1 OECEMBER 2021 Unre5tric¢ed funds 2021 Total furtds 2021 Tolal funds 2020 Income from: Donatiorts afyJ *acies Inteiest re¢wable 2.6S3.061 2.6S3.08t 2.535,096 Toial bn¢ome 2,653.063 2.653,Q63 2,535,096 Expenditure on.. Charitable adivit*s 1.686,845 1,686.045 2. 136.230 Total expenditure 1.686.845 1,686.845 2. 136.230 Nel movemenl in funds 966.218 966.218 398,866 Re¢onciliatson of funds.. TO1￿ lund5 broughl larward Nei nKsvement in funds 554.443 966.218 155.577 398,866 966,218 Total futtds urri•d lorwa¥d 12 1.520.661 1.520.661 554,443 The Staiement of financial aciivities includes all gains and Sjsses recognised in the >ear. The not￿ on pages 13 to 22 lomi ￿ ol ihese finartial slalemènts. Page 10 REGISTERED NUMBER.. 04957219 THE ANGLOAMERICAN CHARITY UMITED BALANCE SHEEr FOR THE YEAR ENDED 31 DECEMBER 2L121 2021 2020 Currerti as$elS Debtors Cash ai bank an<1 In han¢J 314.870 1.216,355 186,978 371.552 1.$31.225 CredilOlS'. amounts lalling due WIt￿n year 10 110.S641 {4.0871 Total net assèts 1.520,661 554.443 Charity funds Unresiricied funds Share capiial General lund5 12 12 1,520.660 554.442 Total un￿s[rIC1ed fund5 12 1.520,661 554,443 Total funds 1,520,661 554,443 The financial s[a*n￿￿[S have been P￿pared in aCt￿￿3r￿e ￿1h Ihe provisions appltabk to CoMpan￿S subject Io Ihe small companies regime and in accordance With the W0￿￿)nS of FRS 102 Secttyjn 1A - smal en1ft￿. The finan¢i* siaiemenr$ We￿ appThed and aLthorised fty issue by tl* Ifusi¢e$ Sig￿ on therr beh8ifby'. S E Horwich Trustee Dale.. The noies on pages 13 to 22 f￿M part of Ihese rwryc￿1 Sts*fftents. Pagè11 THE A14GLO.AMERICAN CHARITY UMITED STATEPAENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash Ilows from operating acQi¥ities Nei cash L*sed in operatts￿ actiVrt￿s 844,803 318.383 Chany in cash and cash equivalents in the year Cash and ￿$h equivalents ai the beginnry ol the year 318.383 371,552 53. 169 Cash and cash equivalents al the end of the year 1.216,355 371.552 The n￿eS on pages 13 ￿ 22 lorm part of these finawal st•ements P4e 12 THE ANGLOAMERICAN CHARITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2021 General information The charity is a cuntihg policy. 2.2 Goin9 concern After making enquiries, the truS￿S have a rea$￿ab￿ expeaalion that the charitable company has adequate resources to continue In opefational exisience and meet tts liabilities as Ihey fall due for Ihe loreseeable lulufe. be*ng a per￿0 ol ai kasi ￿e1Ve M￿th$ from ihe dale these financial statements were appioved. Accwiingty. Ihey c￿lin￿ io adopi the going ¢on¢em basi$ wi preparin9 the fin￿¢181 staiemenis. 2.3 InGom• All Income is recogniset1 once the charilable company has ent*ll2rnent to Ihe income. rt is pmbable thai ihe income wlll be received and rhe amounT of Jncryne receivable can be measured reliabfy. Graois are included in stsiement ol finan¢ial actmties on a receivable basis. The baknce of inccffle receNed Iiy ￿p￿ifIC pufposes bul nol expended during the peri￿ is Shown in the relevant lunds on iht balat￿e sheet. whe￿ income Is recetved in advance ol enlrtlement of receipt, sts GagnilM)n is deferred a￿1 tnduded in credilors as defwred income. Where eniitjemenl occur5 belore Incoff* Is received. the wuirne is accrued. Income tax recoverable in ￿k1￿)n io ltonat￿rts feceived urnler Gift Aid or deeds of ¢ovenani is reccsnised at Ihe lime tsf the ¢JonatiOn. Pa9e13 THE ANGLO-AMERICAN CHARITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounttng policies Icontinuedl 2.4 Expenditur• Expendilure is fecognisèd tsntè thère is a *gal or constrLfti¥e ct*lwJalion to transfer economt benefil to a third party. rt is probable ihal a tfansftr of e¢ontsmic btrrtefits will be fequired in settlement and the am¢)unl ol the ¢)011gation ¢an be measure(I reliably. Expendsiure is cla5srfied by activty. The costs of each activity are rna(le up ol the total of direct cos15 and shared costs. including support ¢o$ts invdveo In undertaking each acliwly. Dsreci cosis allribuiabk 10 a single aclwity are alltscated diieclly to Ihai aciiwty. Shareo cosis wnKh coniribute 10 rn0￿ than one auivity and suppon costs which a noi attribulable to a single activity are apport*￿e0 befv4een those activities on a basis consistent with Ihe use of resotjrces. Ceniral siaff costs a￿ allocated on Ihe basis ol lime spent, and depre¢iatlOn charges allocaied on Ihe portion ol ihe assei's use. ExpendIlU￿ on charitabk adivrties Is IncU￿e￿ on dire#ly undertakirvJ ihe aCt￿￿1•S whth further the charitable ¢ompanls objeciives. as well as any associateij SUPWI costs. Gfants payable are chafged in Ihe year when the offer is made except in those cases where the offer is condilional. such gran￿ being recognIs￿ as expendrture when the condilions attachin9 are fuifillè(l. Grants offered subjeci to tond41ions whKh have noi been mel al the year end are noled a5 Co7￿mitMent. bul accrueo as expenditure. All eXwditU￿ is indusNe ol irreco¥erabJe VAT. 2.5 Interest receivable Inte￿$1 on lunds held on dep0511 is lnUL￿ed when receivable and Ihe amount can be measured rehably by the charitable company". this is normalty upon notiftsiion of Ihe inierest paid or payable by Ihe Institution ihe funds are deposited. 2.6 Forèign curr*nci•s neiary asseis and IraDihlies dertt)minated in fofeign currencies are iranslated into sierfing al rates of exchaThJe wliftg ai the iepMirKJ da*. Transaciion5 in lo￿l9n currenc*s are ifanslate(l into sle￿.￿9 al the raie rulin9 on Ihe ¢Jale of ihe Iransa¢iion. Excwge 9ain$ and 1055es ate re¢ogntsed in the statement of financial activitie5. 2.7 Cash at bank and in hand Cash at bank and in hand indudes cash and short-iem highly I￿Ul¥ Investment$ With a short maturty of th￿ months or te5s Ifom the dale of acqLtisrtion or opening of the dep05il or simitsr accounl. Page 14 THE ANGLOAMERSCAN CHARITY UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2021 Accounting policies (continued) 2.8 Financial instrum•nts The company ha5 elected to appty SeCt￿n$ 11 and 12 01 FRS 102 in respect of final￿1￿ inslrumenls. F￿anCial assels and fthancol liabilit¢es are reccsnsed when the company becom8s paity to the contradual provisions ol ihe insinJff*ni. Fina￿al Irabilit*s and equiiy Insirurnenls are classified accwding io ihe substance of the contractual airangements enieretl An equity insirLtmeni is any coniract Ihat *￿￿er￿ a ￿$KlUa1 intere$1 in Ihe asseis of Ihe company after deducti￿ all of rts liabilsl*S. The crynpanls Fdicies for rts majry dasses of finanrial a55ets and financial liabililies are set out beltrw. Financial assets 6a5r financial assets. debiors, cash and bank balar￿ are in11￿1￿ recogni5ed at transaction price, unless the arrangement constitutes a financing tfansxtton. where the transaction is measured at the present value of the luture ieceiws discounted * a markel rate of intèrest lor a similgr debt instrument. Financing Iran5aciions are those in which paymern is deferred btyorKI nomial business tems or is financed w a rate ol In¢efe5t thai is not a mathet rate. Such assets are subseqLtently cwried at amortised cosi using the effective inlerest methtsa. less any impaiment. Financial liabilities 8asi financial lk0bilil￿. includiffj Irade and Olher creditors are initialy recognised at transa¢lK)n price, unless Ihe afiangemeni constrtuies a financing iransaeivjn, where the debt ie)sirument Is measured ai tne present vaitse of the future payTnents discounte(l al a rna￿et rale of interest for a sirnilar debl Insirumenl. Financing transactions are those In which payment 1$ defer￿d beyond normal business iems or is financed at a rai¢ ol Inte￿St thai is not a martet rate. Oebl Inslruments a￿ 3￿eqUen11Y carr*d al cast. using ihe effe¢live interest rate m?Ih(*J. Impaimient of financial asse Financial asset5 measured al cost amorb'se(J cosi are assessed at the end of each ￿PortIng pertsj for obieaive ewdence of inpairmeni. 11 objeclive eVIder￿ ol wnpaiment is found, an Impairmenl loss is recognised in the profit and b5$ ac£ouni. For financd assets measured at cos1 less ￿npa1[1r￿nl. the inpairrrenl ltsss is meaxlred ¥$ the d￿erence beiween ihe assei's carryiThJ amounl and the ljest estim?le of thè amount the wnpany would receive for the assei rf Li were to be sdd al the ieportir¥J da*_ For financial assets measured ai 8morttsed cosi. the impaiment loss is measured as the difference berween the asset's Car￿n9 amount arKJ the present value of eslinated cash fknvs d￿COunted at the sset's original effective inte¥esi ia*. 11 Ihe finan¢￿1 asset has a variable Interest rate, the discount rale measunn9 any impaimieni 1055 is ihe Cu￿nI efteciive Interest rate detemiined undèr the con1r3￿. 11 there is a decrease in ihe impairrnent loss •ising Iiom an eveni occurring after the impaimient wa5 reco9nised. the Impai￿nent is ie¥etsed. The revefsal ss such that Ihe cUr￿n1 carrying amount does not exceed whal the caffyl'ng amwnl w¢xl￿1 have beèn haa the impaifment nol previously been reco3nised. The iffyairmeni reversal rewjnised in profil or b)ss. Page15 THE ANGLO-AMERICAN CHARITY LIMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies l¢ontsnu¢dl 2.8 Financial insiruments jconlirluedl Dwecognition of financial a$sets and financial liabilitie5 Financol assels are ¢Jerecognised when lal the co7iraciual ri9his to the cash Ilw$ Irom the asset expl￿ or a￿ seiiied, of Ibl st￿$tanl1aIty all Ihe rtsks and ¥ewa¥dS ol the Lwiershjp of the assel we tfan51erred 10 anoihei party or Icl despiie havin9 retrJneLI some $1gnificanl risks and rewards of 47wneiship. coniiol of Ihe asset has been IranslerTed to an%Ylw party vAK¢ has the practiGal ability lo uni&tefally sell Ihe assei io an ￿related ¢hird party wrfhoui impoyNJ ad¢Jth"onal ￿$tric{K)nS. FinarKial babilit￿$ are derecognised when Ihe liabilty is extirnjuished, Ihal is when the contractLAI oblvJaiion ts d15chaf9ed. cancelthl or e¥pire$. Off￿￿rt9 of financial •ss•ts and financial liabililies Fina￿01 assets and tiabith.lies a￿ offset and the ftei amouni reported in the balance sheèt when the￿ ts an enfLwceable io sel off the recognised amounts and Ihere is an intenlion io senie on a net tmsis w 10 ￿alIse ihe and seitte Ihe I￿l￿ty sirnumarbeotssty. 2.9 Pensions The charitable comparty ope1*è5 a defined ¢oniributKJn pension ￿herne the pensp)n charge represents the an￿niS payable ty the charitable C￿NpartY 10 Ihe fund in ￿SpecI ofthe yeaf. 2.10 Fund accountlllg Gener31 fufflds are unresincied funds which ale aval￿b* fw use at Ihe disuwion ol the iruslees in furtherance ol Ihe general 04ectives OF ihe charilat4e cr*npany and which have not beèn d8svJnated lor other Puiposes. Invesimeni income. 9ains and h)sses are alkcweil 10 the apprw*e f￿d. Income from donations and legacies Unr*strrctefl funds 2021 Total funLIs 2021 rrtal lunds 2020 Oonauons 2.653.061 2.6S3.Q61 2.535.096 202Q 2.535.096 2.53&096 Page 16 THE ANGL0￿mERICAN CHARITY LllJllTED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENIXD 31 DECEMBER 2021 Analysis of gran Grants to Institutions 2021 Total funds 2021 Tot ltsnds 2020 Granis 1.647.261 1.fj47.261 2,090.827 Total 2020 2.090.827 2.090,827 The charilable company has made the fouw.ng material 913nts to ins1t1￿•tins during the yeai.. 2021 2020 ame of institution The AngtrArnerican Chaiilable FI￿n￿allon Liruled Orchid Project Royal Opera House UP Unlcxking Potential Impelus UJIA VKlorra ana Albert Museltm King'5 Colie9e F4ospiial Chafty St Paufs Col E Scho Royal Society ol Sculptors Soulh Hampstead Chariiable TnJsi London S¢hod of Jewish si4￿1e$ St Luke's Church Resurgo Greencombe G81(len Trus1 Chichesier Festival The*re ALMT Aish Cofflmtsnily Security Tiusi Wark Avenue Foundaiion 809.091 100.000 100.000 95.0fy) 62.276 61.250 42,620 40.0 36.759 25.000 23.887 18.060 16,800 1S.268 15.000 Is.000 15,000 t4,3TI 12.974 12,050 3,090.827 1,S30.412 116.849 2.090.￿7 Other gr¥nts io in$iiithions under £12.000 1,647.261 2,090.837 The charily awarded granis 10 Ihe Insiilulions above io furthef lis obiedives in the 5UPWt ol med researcb. cuttuial activities. third workl development. ediotional causes and cryY¥nunty projects. Page 17 THE ANGL￿AmERICAN CHARITY UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2021 Anatysis of expendbture by acti¥iti•S Grnnt funding of actsvilies 2021 Support costs 2021 Total funds 2021 lunds 2020 Chafitable grant5 Support wsts 1.647,261 1.647.261 39.514 2.090,827 45,403 39.584 1,647.￿7 39.584 1,686,845 2. 136.230 Tot812020 2,090.827 45,403 2. 136,230 Analy$i$ ol support ¢osts Go¥emance cos 2021 ToLIl fund5 2021 Tol81 lunds 2020 S(aff costs Bank char9es Audit fees Legal and prolessitywl Misc expensès Fo￿l9n exchange losses Office expenses Insurance 17.161 399 1,200 16,303 1,695 12.633> 3.067 2.392 16.590 119 399 1,200 16.303 1,695 12.6331 3.067 2.392 4,228 38 13.995 7,577 1,656 39.584 39.584 45,403 Tot* 2020 45.403 45.403 AuditoV5 remuneration 2021 2020 Fees paroble ￿ the Chati1aD￿ companls aud￿0( lor the audr( of ihe chariiable companls ar￿Ual accounis 1,2tXI Page 18 THE ANGLO-AMERICAN CHARITY UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Stsff costs 2021 2020 Wages and salaries Contnbution ro ¢Jefined contribulw pensw schemes 16,352 809 16, 125 465 17.161 16.590 The average number of person5. excluding tru$*es. wnployed by Ihe charlable company durir¥J the year was as lo¢lcMs'. 2021 140. 302Q AdminisvaliD No en￿loyee received r•mun•fai•)n amcxmiry lo Ihan t60.C￿ in either ye•. The tNsw are con$K1ered 10 be the key mana9enpnt personnel. TNsiè8s' i•muneration and expenses Durbng year no irusiees recefved any remuneraion or Olhef benefils {2020- £NIL). Ouring the year. no trusTee expense5 were incuffe¢ (2020- £NIL). Oebtofs 2021 2020 Trade debiors Other debtors Prepayments and •C¢n￿ irKtyne 300.998 87,878 13.088 99. 1L 314,870 186.978 Page 19 THE ANGL04MERICAN CHARITY LIMITEO hlOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDÉD 31 DECEMBER 2021 10. Creditors= Arnoun(5 lallin9 due within one year 2021 2020 Trade creditors Oiher C￿￿11(￿$ 10,564 2,887 10.564 4.087 11. Share capital 2021 2020 Shares classified as equity Allotted, called up and fully paid 1 12020.. 11 Or(linary share of tl 12. Staternent of funds Ststement of lunds- currenl year aalance al 31 D•c•rnb•v 2021 8alance at f January 2021 Income Expenditure Unrestricted lunds Share capital General lunds 554.442 1653.063 11.686.8451 1.520,660 $54.M3 2.653,063 11,686,845) 1,520.661 Pa9e 20 THE ANGLO-AMERICAN CHARITY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 OECEM8ER 2021 12. Statement of funds lcontinuedl S¢at¢meni of lunds- prior year Balance al 31 Oecembei 2020 Balance ai l January 2020 In¢fft Expendilu Unresiricted funds General lunds Share capilal 15&576 2.$35.096 (2, 134230) $54,442 755,577 2.535,096 (2. 136.230) 554,443 13. Reconciliation of net mo¥emeni in lunds to net cash flow trom operJling activities X121 2020 Nei income for ihe year ias pèr StaièmÈnt of Fina￿al ACir¥kt￿s) 966,218 398,866 Adjuslments for". Inuea5e In 4Yebtors Increase In creth.tors {127.8921 6.477 f83.370J 2.887 Net cash provided by operating aciiwities 318.383 14. Analysis ol cash and cash equivalents 2021 2020 Cash In haThJ 1.216.355 371.552 Page 21 THE ANGLO4MERICAN CHARITY UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 0ECEIA8ER 2021 15. Anatysis of changes in nel de Atl January 2021 Cagh flows At31 December 2021 Cash at bank and in hand 371.SS2 W.803 1,216,355 16. Related party transactions The ehartsble company has taken advant￿ ol Ihe eXeryt￿ contained irt FRS102 sedion 33-RelateLI Paty Disclosures- from disclosin9 iranSactt￿S with enlities which a￿ a wholly owred part oflhe gioup. During ihe year Ihe charbiaNe company re¢eNed 4greg*e donaiions Irom iruste¢$ ¥mcwnting to Énil 12020. £3,517). 17. Conirollin9 P•rty The immediate and uhimate pareth undenaking and C41ntmlling Party is The AngltrAmerican Chariiatile FouniJatK)n Limiied, a US public company wth a re59itered number ￿ EIN 43-2031982. The ArKJktrAmefun Charrtable Foun(lal￿n Lin￿ed 1$ a doThy aoviseil tharity for US crtrlens a resi¢Jeni in the UK. Group financt¥l statemenis are prepared. Page 22