| Page | ||||
|---|---|---|---|---|
| Report ofthe Trustees | 1 | to | 3 | |
| Report ofthe Independent | Aaditors | 4 | to | 6 |
| Statement ofFinancial Activities | ||||
| Balaace Sheet | ||||
| Cash Flow Statement | ||||
| I%utes to the Financial Statements | 10 | to | 19 |
| for | the Year | Eaded 5April | 2021 | ||
|---|---|---|---|---|---|
| 5.4.21 | 5.4.20 | ||||
| Unrestricted | Endowment | Total | Total | ||
| Notes | fund | fund | funds 8 |
fundsI | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donaticns and legacies |
2369,578 | 2369,578 | 750,000 | ||
| Investment income |
3 | ~101 28 | ~101 28 | ~107543 | |
| Total | 101~8 | 2369,578 | 2,470,806 | 857,543 | |
| EXPENDITURE ON | |||||
| Raising funds | 11484 | 11484 | 1,336 | ||
| Charitable nativities |
5 | ||||
| General charitable activities |
611,132 | 12,506 | 623,638 | 439,785 | |
| Total | 611,132 | 23,890 | 635,022 | 441,121 | |
| Net gains/(losses) on investments |
~1570 04 | ~1570904 | 739 73 | ||
| NKT INCOME/(EXPENDITURE) | (509g04) | 3P16,592 | 3,406,688 | (322,851) | |
| Transfers between funds |
13 | ~509904 | ~509 04) | ||
| Net movement in funds |
3,406,688 | 3,406,688 | (322,851) | ||
| RECONCILIATION OF FUNDS |
|||||
| Total funds brought forward |
7,429,086 | 7,429,086 | 7,751,937 | ||
| TOTAL FUNDS CARRIED FORWARD | ~10 835774 | ~IO 835774 | ~7429 086 |
| The Buffini Chao Foundatio | The Buffini Chao Foundatio | n | ||||
|---|---|---|---|---|---|---|
| Balance Sheet | ||||||
| 5 | April 2021 | |||||
| 5.4.21 | 5.4.20 | |||||
| Unrestricted | Endowment | Total | Total | |||
| Notes | fund | fund f |
funds | fundsf | ||
| FIXEDASSETS Investments |
10&076,057 | 10,076,057 | 6,659,289 | |||
| CURRENT ASSETS | ||||||
| Cash at bank | 10,506 | 7608117 | 771&423 | 783,186 | ||
| CREDITORS | ||||||
| Amounts falling due within |
one year | 12 | (10,506) | (1400) | (11,706) | (13,389) |
| NET CURRENT ASSETS | 759,717 | 59 717 | 769 797 | |||
| TOTAL ASSETSLESS CURRENT | ||||||
| LIABILITIES | 10,835,774 | 10,835,774 | 7,429,086 | |||
| NET ASSETS | 311035774 | 10835774 | 7429 086 | |||
| FUNDS | 13 | |||||
| Endowment funds |
10835 774 | 7429 086 | ||||
| TOTAL FUNDS | 10035774 | 7429 086 |
| for the Year End | ed 5April 2021 | |||||
|---|---|---|---|---|---|---|
| 5.4.21 | 5.4.20 | |||||
| Notes | f | |||||
| Cash flows from operating | activities | |||||
| Cash generated &em operations |
15 | ~61281 | ~439302) | |||
| Net cash used in operating | activities | ~612815) | ~439302 | |||
| Cash flaws from investing | activities | |||||
| Purchase offixed asset investments | (3,075486) | (633,869) | ||||
| Sale offixed asset investments | 1429,522 | 269,446 | ||||
| interest received | 731 | 974 | ||||
| Dividends received |
~100497 | ~106569 | ||||
| Net cash used in investing | activities | ~1744 63 | ~256 880) | |||
| Cash flows from financing | activities | |||||
| Income attributable to endowment Expenditure attributable to endowment |
2869&578 ~23890) |
750,000 ~133 |
||||
| Net cash provided by financing activities |
~245 688 | ~748 664 | ||||
| Change iu cash and cash equivalents |
in | |||||
| the reporting period |
(11,763) | 52,482 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | ~783 186 | ~730704 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
~771 423 | ~783 186 |
| DONATIONS | AND LEGACIES | ||||
|---|---|---|---|---|---|
| 5.421 | 5.4.20 | ||||
| 6 | |||||
| Gifts | 2,130428 | 600,000 | |||
| Gift aid | ~239 50 | ~150000 | |||
| ~269578 | ~750000 | ||||
| 3. | INVESTMENT INCOME | ||||
| Investment income comprises; |
|||||
| 5.4.21 | 5.4.20 | ||||
| f | |||||
| Interest received | on UK investments | 2,249 | 2,493 | ||
| UK Dividends | 82&860 | 97,095 | |||
| UK Rental income | 401 | 2,389 | |||
| Interest received | on overseas investments | 4&482 | 527 | ||
| Overseas Dividends | ~11236 | 5039 | |||
| ~101 28 | ~107543 | ||||
| 4. | RAISING FUNDS | ||||
| INVESTMENT | MANAGEMENT | COSTS | |||
| 5.4.21 | 5.4.20 | ||||
| Portfolio management | ~11 84 | ~1336 |
| CHARITABLE ACTI | VITI | ES C | OSTS | ||||
|---|---|---|---|---|---|---|---|
| Grant | |||||||
| funding of | |||||||
| activities | Support | ||||||
| (see note | costs (see | ||||||
| 6)f | note 7) f |
TotalsI | |||||
| General charitable activities |
~567 10 | ~56 28 |
~623 638 | ||||
| GRANTS PAYABLE | |||||||
| 5.4.21 | 5.4.20 | ||||||
| General charitable activities |
~567310 | ~384 822 | |||||
| The total grants paid to | institutions | during the | year was as fogows: | ||||
| 5.4.21 | 5.4.20 | ||||||
| f | f. | ||||||
| Build Africa/Streetchild | 16,200 | ||||||
| Eastside Young Leaders | Academy | 7,500 | 45,000 | ||||
| Foundation and Friends |
ofthe Royal Botanic | Gardens Kew | 30,000 | ||||
| National Deaf Children's | Society | 15,000 | |||||
| Community Foundation |
for Surrey | 30,000 | 30,000 | ||||
| First Give | 31,600 | 16,800 | |||||
| Wave Project | 20&000 | ||||||
| Music Masters | 8,000 | 8,000 | |||||
| Soil Association | 20,000 | 13,064 | |||||
| Kent Academies Network | 28,920 | ||||||
| Lyric Theatre Hammersmith | Limited | 10,000 | |||||
| Primary Robbins | 21410 | 21,510 | |||||
| Envision | 10,000 | 10,000 | |||||
| Royal National Theatre |
- NT Connections | 250,000 | 100,000 | ||||
| RHS Garden Wisley | 22&000 | ||||||
| Hidden Tales Association | 1,928 | ||||||
| English National Ballet | 34,000 | 24,000 | |||||
| Springboard Foundation |
30,000 | 30,000 | |||||
| Bush Theatre | 10,000 | ||||||
| Hall for Cornwall | 5,000 | ||||||
| Royal Ballet School | 20,000 | ||||||
| Schoolreaders | 5&000 | ||||||
| Chance to Shine | 14&000 | ||||||
| Seaview | 12&500 | ||||||
| Small grants f1,000 and | less - Nil | (2020:1) | 600 | ||||
| ~567 10 | ~384 822 |
| SUPPORT C | OST | S | |||||
|---|---|---|---|---|---|---|---|
| Governance | |||||||
| Management | Finance | costs | Totals | ||||
| 6 | |||||||
| General charitable | activities | ~35 085 | ~13 043 | ~800 | ~56 28 |
||
| Support costs, included | in the above, | are as follows: | |||||
| MANAGEMENT | |||||||
| 5.4.21 | 5.4.20 | ||||||
| General | |||||||
| charitable | Total | ||||||
| activities | activities | ||||||
| Wages Social security Pensions |
33,000 990 |
33,000 959 990 |
|||||
| Website costs | 402 | 11,042 | |||||
| Postage and stationery Sundries |
693 | 391 228 |
|||||
| Travel and subsistence | 342 | ||||||
| ~35 085 | ~46 952 | ||||||
| FINANCE | |||||||
| 5.4.21 | 5.420 | ||||||
| General | |||||||
| charitable | Total | ||||||
| activities | activities | ||||||
| Bank charges | 107 | 111 | |||||
| Exchange losses | ~12 36 | ||||||
| ~13 043 | |||||||
| GOVERNANCE | COSTS | ||||||
| 5.4.21 | 5.4.20 | ||||||
| General | |||||||
| charitable | Total | ||||||
| activities | sctlvltles | ||||||
| f. | |||||||
| Auditors' remuneration |
5,400 | 5,400 | |||||
| Professional | fees | ~2800 | ~2500 | ||||
| ~800 | ~7900 |
| STAFF COSTS | ||||||
|---|---|---|---|---|---|---|
| 5.4.21 | 5.4.20 | |||||
| f | f, | |||||
| Wages and salaries | 33&000 | 33,000 | ||||
| Social security costs | 959 | |||||
| Other pension costs | 990 | 990 | ||||
| 33 90 | ~34 949 | |||||
| The average monthly | number ofemployees | during the year was as follows: | ||||
| 5,4.21 | 5,4.20 | |||||
| Administration | I | 1 | ||||
| No employees received emoluments |
in excess off60,000. | |||||
| COMPARATIVKS | FOR THE STATEMENT OF FINANCIAL ACTIVTTIES | |||||
| Unrestricted | Endowment | Total | ||||
| fund | fund | funds | ||||
| f | ||||||
| INCOME AND ENDOWMENTS | FROM | |||||
| Donations and legacies |
750,000 | 750,000 | ||||
| Investment income |
~107 | 543 | ~107543 | |||
| Total | 107,543 | 750,000 | 857,543 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 1,336 | 1,336 | ||||
| Charitable activities |
||||||
| General charitable activities |
439,785 | 439,785 | ||||
| Total | 439,785 | 1,336 | 441,121 | |||
| Net gains/fosses) on |
investments | ~739273 | ~739273 | |||
| NET INCOME/(EXPENDITURE) | (332242) | 9,391 | (322,851) | |||
| Transfers between funds |
~332 | 42 | ~332 242 | |||
| Net movement in funds |
(322,851) | (322,851) |
| Notes | to the Financial Statements - continued | ||||
|---|---|---|---|---|---|
| for the Year Ended 5April 2021 | |||||
| 10. | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | -continued | |||
| Unrestricted | Endowment | Total | |||
| fund | fund | funds | |||
| f | f. | ||||
| RECONCILIATION | OF FUNDS | ||||
| Total funds brought | forward | 7,751,937 | 7,751,937 | ||
| TOTAL FUNDS CARRIED FORWARD | ~7429 086 | ~7429 086 | |||
| 11, | FIXEDASSET INVESTMENTS | ||||
| Listed | |||||
| investments | |||||
| f | |||||
| MARKET VALUE | |||||
| At 6 April 2020 | 7&355,313 | ||||
| Additions | 39075386 | ||||
| Disposals Revaluations |
(1,181,011) ~86 69 |
||||
| At 5 April 2021 | 10 1176057 | ||||
| PROVISIONS | |||||
| At 6 April 2020 Provision for year |
696,024 ~6960 7 |
||||
| At 5 April 2021 | |||||
| NET BOOKVALUE | |||||
| At 5 April 2021 | 10I&76007 | ||||
| At 5April 2020 | ~6659 89 | ||||
| Investments at market |
value comprise:- | 5.4.21 | 5.4.20 | ||
| Equities | 1,912,981 | 270,145 | |||
| Bonds | 349,980 | 106,209 | |||
| Hedge Funds | 128,681 | 9,585 | |||
| Managed Property Funds |
70,400 | 47,135 | |||
| Commodities | 82,890 | ||||
| Multiple Asset Class |
75&l I | ~6226,215 | |||
| 10076057 | ~6659 89 |
| CREDITORS: AMOUNTS FALLING DUE WI | THIN ONE YEAR | |
|---|---|---|
| 5.4.21 | 5.4.20 | |
| f | ||
| Other creditors | 3,006 | 3489 |
| Accrued expenses | ~8700 | ~10 100 |
| ~11 706 | ~13 389 |
| MOVEMEN | T IN FUNDS | |||||
|---|---|---|---|---|---|---|
| Net | Transfers | |||||
| movement | between | At | ||||
| At 6.4,20 | in funds | funds | 5.4.21 | |||
| f | f | f | ||||
| Unrestricted | funds | |||||
| General fund | (509904) | 509,904 | ||||
| Endowment | funds | |||||
| Expendable | endowment | 7,429)086 | 3,916,592 | (509&t04) | 10,835,774 | |
| TOTAL FUNDS | ~7429086 | ~3406 688 | - | ~10 835774 | ||
| Net movement | in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |||
| resources f |
expended f |
losses f |
in funds f |
|||
| Unrestricted | funds | |||||
| General fund |
101428 | (611,132) | (509g04) | |||
| Endovnnent | funds | |||||
| Expendable | endowment | 2869,578 | (23,890) | 1&570„&104 | 3,916&592 | |
| TOTAL FUNDS | ~2470 806 | ~635 022 | ~170 04 | ~3406688 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At 6.4.19 | in funds | funds | 5.4.20 | ||
| K | 6 | ||||
| Unrestricted | funds | ||||
| General fund | (332,242) | 332,242 | |||
| Endowment | funds | ||||
| Expendable | endowment | 7,751,937 | 9,391 | (332,242) | 7,429,086 |
| TOTAL FUNDS | ~7751 37 | ~322 851 | - | ~7429 086 |
| Comparative | net movement in funds, |
included in the above are a |
s follows; | ||
|---|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in fends | ||
| f | |||||
| Unrestricted | funds | ||||
| General fund |
107,543 | (439,785) | (332242) | ||
| Endowment | funds | ||||
| Expendable | endowment | 750,000 | (1,336) | (739273) | 9,391 |
| TOTAL FUNDS | ~857 543 | ~441 121 | ~739 73) | 322 851 |
| Net | Transfers | |||||
|---|---|---|---|---|---|---|
| movement | between | At | ||||
| At 6.4.19 | in funds | funds | 5.4.21 | |||
| f. | f. | f | ||||
| Unrestricted | funds | |||||
| General | fund | (842,146) | 842,146 | |||
| Endowment | funds | |||||
| Expendable | endowment | 7,751,937 | 3,925,983 | (842,146) | 10,835,774 | |
| TOTAL | FUNDS | ~7751937 | ~3083 837 | - | ~10 835774 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended I |
losses f |
in fimds f. |
||
| Unrestricted | funds | ||||
| General fund | 208,771 | (1,050,917) | (842,146) | ||
| Endowment | funds | ||||
| Expendable | endowment | 3,119,578 | (25326) | 831,631 | 3,925,983 |
| TOTAL FUNDS | 3,328,349 | ~1076,143 | ~831 631 | ~3083837 |
| OPERATING ACTIVI | TIES | ||
|---|---|---|---|
| 5.421 | 5,4.20 f |
||
| Net income/(expenditure) | for the report)ng period (as per the | ||
| Statement ofFloancial | Activities) | 3/t06&688 | (322,851) |
| Adjustments for: |
|||
| (Gain)/losses oo investments |
(1470&904) | 739,273 | |
| Interest received | (731) | (974) | |
| Dividends reccivcd |
(100,497) | (106,569) | |
| Income attributable to endowment |
(2369&578) | (750,000) | |
| Expenditure attributable |
to endowment | 23&890 | 1,336 |
| Decrease in debtors Decrease in creditors |
4,216 ~3733 |
||
| Net cash used in operations | ~612815) | ~439302) |
| ANALYSIS OF CHANCES IN NET | FUNDS | ||
|---|---|---|---|
| At 6.4.20 f |
Cash flow f |
At 5.4,21 | |
| Net cash Cash at bank |
~783 186 | 11763 | ~771 423 |
| ~783 186 | 11763 | ~771 423 | |
| Total | ~783 186 | 11763 | ~771 423 |