||||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|