|||Page|Page||
|---|---|---|---|---|
|Report ofthe Trustees||1|to|3|
|Report ofthe Independent|Auditors|4|to|6|
|Statement ofFinancial Activities|||||
|Balance Sheet|||||
|Cash Flow Statement|||||
|Notes to the Financial Statements||10|to|19|
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|||for|the Year|Ended 5April 2|022|||
|---|---|---|---|---|---|---|---|
|||||||5.4.22|5.4.21|
|||||Unrestricted|Endowment|Total|Total|
|||||fund|fund|funds|funds|
||||Notes|||||
|INCOME AND ENDOWMENTS FROM||||||||
|Donations
and legacies|||||2,500,000|2,500,000|2,369,578|
|Investment
income||||198,987||198,987|101,228|
|Other income||||9,S41||9,841||
|Total||||208,828|2,500,000|2,708,828|2,470,806|
|EXPENDITURE|ON|||||||
|Raising funds|||||22,889|22,889|11,384|
|Charitable
activities||||||||
|General charitable|activities|||774,044||774,044|623,638|
|Total||||774,044|22,889|796,933|635,022|
|Net gains on investments|||||316,076|316,076|1,570,904|
|NET INCOME/(EXPENDITURE)||||(565416)|2,793,187|2427,971|3,406,688|
|Transfers between|funds||13|565416|(565416)|||
|Net movement
in|funds||||2,227,971|2427,971|3,406,688|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought forward|||||10,835,774|10,835,774|7,429,086|
|TOTAL FUNDS|CARRIED FORWARD||||13,063,745|13,063,745|10,835,774|
##
||The Buffini Chao Foundation|The Buffini Chao Foundation||||
|---|---|---|---|---|---|
||Balance Sheet|||||
||5|April 2022||||
|||||5.442|5.4,21|
|||Unrestricted|Endowment|Total|Total|
|||fund|fund|funds|funds|
||Notes|||||
|FIXEDASSETS
Investments|||12)575,615|12,575,615|10,076,057|
|CURRENT ASSETS
Cash at bank||8,617|489,330|497,947|771,423|
|CREDITORS
Amounts
falling due within one year|12|(8,617)|(1)200)|(9)817)|(11,706)|
|NET CURRENT ASSETS|||4881130|488,130|759,717|
|TOTAL ASSETS LESSCURRENT
LIABILITIES|||13,063,745|13,063,745|10,835,774|
|NET ASSETS|||13,063,745|13,063,745|10,835,774|
|FUNDS
Endowment
funds|13|||13,063,745|10,835,774|
|TOTAL FUNDS||||13,063,745|10,835,774|
##
|||for the Year Ende|d 5April 2022||
|---|---|---|---|---|
||||5.4.22|5.4.21|
|||Notes|||
|Cash flows from operating
activities
Cash generated
from operations||15|(766,092)|(612,815)|
|Net cash used in operating
activities|||(766,092)|(612,815)|
|Cash flows from investing
activities
Purchase offixed asset investments
Sale offixed asset investments
Interest received
Dividends
received|||(15,972,065)
13,788,583
129
198,858|(3,075,386 )
1,229,522
731
100,497|
|Net cash used in investing
activities|||(1,984,495)|(1,744,636 )|
|Cash flows from financing
activities
Income attributable
to endowment
Expenditure
attributable
to endowment|||2,500,000
(22,889)|2,369,578
(23,890)|
|Net cash provided
by financing
activities|||2,477,111|2,345,688|
|Change in cash and cash equivalents
the reporting
period|in||(273,476)|(11,763)|
|Cash and cash equivalents
at the
beginning
ofthe reporting
period|||771,423|783,186|
|Cash and cash equivalents
at the end
the reporting
period|of||497,947|771,423|
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|DONATIONS
AND LEGACIES||5.4.22|5.4.21|
|---|---|---|---|
|Gifts
Gift aid||2,000,000
500,000|2,130,228
239,350|
|||2,500,000|2,369,578|
|INVESTMENT INCOME||||
|Investment
income comprises:||5.4.22|5.4.21|
|Interest received on UK investments
UK Dividends
UK Rental income
Interest received on overseas investments
Overseas Dividends||3,946
165,475
9,552
20,014|2,249
82,860
401
4,482
11,236|
|||198,987|101,228|
|RAISING FUNDS||||
|INVESTMENT MANAGEMENT|COSTS|5.4.22|5.4.21|
|Portfolio management||22,889|11,384|
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##
|CHARITABLE ACTIVI|TIES C|OSTS||||
|---|---|---|---|---|---|
||||Grant|||
||||funding of|||
||||activities|Support||
||||(see note|costs (see||
||||6)|note 7)|Totals|
|General charitable
activities|||683400|90,744|774,044|
|GRANTS PAYABLE||||||
|||||5.4.22|5.4.21|
|General charitable
activities||||683,300|567,310|
|The total grants paid to institutions||during the year was as follows:||5.4.22|5.4.21|
|Build Atrica/Streetchild||||20,000|16,200|
|Eastside Young Leaders Academy
National Deaf Children's
Society||||2,400
15,000|7,500
15,000|
|Community
Foundation
for Surrey
First Give||||22,120|30,000
31,600|
|Wave Project
Music Masters||||13,125
8,000|20,000
8,000|
|Soil Association|||||20,000|
|Kent Academies
Network||||13/65||
|Primary Robbins
Envision||||21,510
10,000|21,510
10,000|
|Royal National
Theatre -
RHS Garden Wisley
English National Ballet
Springboard
Foundation
Royal Ballet School
Schoolreaders|NT Connections|||250,000
24,000
30,000
20,000
5,000|250,000
22,000
34,000
30,000
20,000
5,000|
|Chance to Shine||||14,000|14,000|
|Seaview||||12,500|12,500|
|Into University
Rugby Football Foundation
Sporting Way
Victoria and Albert Museum||||40,000
11,000
4,100
125,000||
|Young Minds
London Children's
Ballet||||10,000
11,000||
|Small grants $1,000 and|less - 3(2021:Nil)|||1/80||
|||||683,300|567,310|
##
|SUPPORT C|OST|S||||||
|---|---|---|---|---|---|---|---|
|||||||Governance||
|||||Management|Finance|costs|Totals|
|General charitable||activities||80/78|116|10@50|90,744|
|Support costs,|included||in the above,|are as follows:||||
|MANAGEMENT||||||5.4.22|5.4.21|
|||||||General||
|||||||charitable|Total|
|||||||activities|activities|
|Wages
Social security
Pensions
Website costs
Postage and stationery
Travel and subsistence||||||72,592
5,001
1,065
431
986
203|33,000
990
402
693|
|||||||80/78|35,085|
|FINANCE||||||5.4.22|5.4.21|
|||||||General||
|||||||charitable|Total|
|||||||activities|activities|
|Bank charges
Exchange losses||||||116|107
12,936|
|||||||116|13,043|
|GOVERNANCE||COSTS||||5.4.22|5.4.21|
|||||||General||
|||||||charitable|Total|
|||||||activities|actlv&ties|
|Auditors'
remuneration||||||5,400|5,400|
|Professional|fees|||||4,950|2,800|
|||||||10,350|8/00|
##
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|STAFFCOSTS||||||
|---|---|---|---|---|---|
|||||5.4.22|5.4.21|
|Wages and salaries
Social security costs
Other pension costs||||72,592
5,001
1,065|33,000
990|
|||||78,658|33,990|
|The average monthly
number ofemployees||during the year was|as follows:|||
|||||5.4.22|5.4.21|
|Administration||||2|1|
|No employees
received emoluments|in excess off60,000.|||||
|COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted||||Endowment|Total|
||||fund|fund|funds|
|INCOME AND ENDOWMENTS
Donations
and legacies|FROM|||2,369,578|2,369,578|
|Investment
income|||101,228||101,228|
|Total|||101,228|2,369,578|2,470,806|
|EXPENDITURE ON
Raising funds||||11,384|11,384|
|Charitable
activities
General charitable
activities|||611,132|12,506|623,638|
|Total|||611,132|23,890|635,022|
|Net gains on investments||||1,570,904|1,570,904|
|NKT INCOME/(EXPENDITURE)|||(509,904)|3,916,592|3,406,688|
|Transfers
between
funds|||509,904|(509,904)||
|Net movement
in funds||||3,406,688|3,406,688|
##
||Notes to the Financial Statements
-continued
for the Year Ended 5April 2022|Notes to the Financial Statements
-continued
for the Year Ended 5April 2022|Notes to the Financial Statements
-continued
for the Year Ended 5April 2022||
|---|---|---|---|---|
|10.|COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued||||
|||Unrestricted|Endowment|Total|
|||fund|fund|funds|
||RECONCILIATION|OF FUNDS|||
||Total funds brought forward||7,429,086|7,429,086|
||TOTAL FUNDS CARRIED FORWARD||10,835,774|10,835,774|
|11.|FIXEDASSET INVESTMENTS||||
|||||Listed|
|||||investments|
||MARUT VALUE||||
||At 6April 2021
Additions|||10,076,057
15,972,065|
||Disposals
Revaluations|||(11,862,951)
(994,773)|
||At 5 April 2022|||13,190/98|
||PROVISIONS||||
||Provision for year|||614,783|
||NET BOOKVALUE||||
||At 5 April 2022|||12,575,615|
||At 5 April 2021|||10,076,057|
||Investments
at market|value comprise:-|5.4.22|5.4.21|
||Equities
Bonds|||1,912,981
349,980|
||Hedge Funds
Managed Property Funds
Commodities|||128,681
70,400
82,890|
||Multiple Asset Class||12,575,615|7,531,125|
||||12,575,615|10,076,057|
##
##
|12.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE|YEAR|||
|---|---|---|---|---|---|---|
||||||5.4.22|5.4.21|
||Other creditors||||1,117|3,006|
||Accrued expenses||||8,700|8,700|
||||||9,817|11,706|
|13.|MOVEMENT IN FUNDS||||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 6.4.21|in funds|funds|5.4.22|
||Unrestricted|funds|||||
||General fund|||(565,216)|565/16||
||Endowment|funds|||||
||Expendable|endowment|||||
||||10,835,774|2,793,187|(565,216)|13,063,745|
||TOTALFUNDS||10,835,774|2,227,971||13,063,745|
||Net movement
in funds, included||in the above are as follows:||||
||||Incoming|Resources|Gains and|Movement|
||||resources|expended|losses|in funds|
||||||f||
||Unrestricted|funds|||||
||General fund||208,828|(774,044)||(565416)|
||Endowment|funds|||||
||Expendable|endowment|||||
||||2,500,000|(22,889)|316,076|2,793,187|
||TOTALFUNDS||2,708,828|(796,933)|316,076|2427,971|
##
##
##
||||||Net|Transfers||
|---|---|---|---|---|---|---|---|
||||||movement|between|At|
|||||At 6.4.20|in funds|funds|5.4.21|
|Unrestricted|funds|||||||
|General fund|||||(509,904)|509,904||
|Endowment|funds|||||||
|Expendable|endowment|||||||
|||||7,429,086|3,916,592|(509,904)|10,835,774|
|TOTAL FUNDS||||7,429,086|3,406,688||10,835,774|
|Comparative|net movement|in funds, included|in the above are||as follows:|||
|||||Incoming|Resources|Gains and|Movement|
|||||resources|expended|losses|in funds|
|Unrestricted|funds|||||||
|General fund||||101,228|(611,132)||(509,904)|
|Endowment|funds|||||||
|Expendable|endowment|||||||
|||||2,369,578|(23,890)|1,570,904|3,916,592|
|TOTAL FUNDS||||2,470,806|(635,022)|1,570,904|3,406,688|
|A current year 12months||and prior year 12months||combined|position is as follows:|||
||||||Net|Transfers||
||||||movement|between|At|
|||||At 6.4.20
in funds||funds|5.4.22|
|Unrestricted|funds|||||||
|General fund|||||(1,075,120)|1,075,120||
|Endowment|funds|||||||
|Expendable|endowment|||||||
|||||7,429,086|6,709,779|(1,075,120)|13,063,745|
|TOTALFUNDS||||7,429,086|5,634,659||13,063,745|
##
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##
|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||310,056|(1,385,176)||(1,075,120)|
|Endowment|funds|||||
|Expendable|endowment|||||
|||4,869,578|(46,779)|1,886,980|6,709,779|
|TOTAL FUNDS||5,179,634|(1,431,955 )|1,886,980|5,634,659|
##
##
|15.|RECONCILIATION|RECONCILIATION|OF NET INCOME TO NET CASH FLOW FROM|OF NET INCOME TO NET CASH FLOW FROM|OPERATING ACTIVITIES|OPERATING ACTIVITIES|
|---|---|---|---|---|---|---|
||||||5.4.22|5.4.21|
||Net income for the|reporting||period (as per the Statement ofFinancial|||
||Activities)||||2,227,971|3,406,688|
||Adjustments
for:||||||
||Gain on investments||||(316,076)|(1,570,904 )|
||Interest received||||(129)|(731)|
||Dividends
received||||(198,858)|(100,497)|
||Income attributable|to|endowment||(2,500,000)|(2,369,578 )|
||Expenditure
attributable||to endowment||22,889|23,890|
||Decrease in creditors||||(1,889)|(1,683)|
||Net cash used in operations||||(766,092)|(612,815)|
##
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|ANALYSIS OF CHANGES IN NET F|UNDS|||
|---|---|---|---|
||At 6.4.21|Cash flow|At 5.4.22|
|Net cash||||
|Cash at bank|771,423|(273,476)|497,947|
||771,423|(273,476)|497,947|
|Total|771,423|(273,476)|497,947|