2023-04-05-accounts - The Buffini Chao Foundation

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		Page	Page
Report ofthe Trustees		1	to	4
Report ofthe Independent	Auditors	5	to	7
Statement ofFinancial Activities
Balance Sheet
Cash Flow Statement			10
Notes to the Financial Statements		11	to	20

	for	the Year	Ended 5April 2	023
					5.4.23	5.4.22
			Unrestricted	Endowment	Total	Total
			fund	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies				500,000	500,000	2,500,000
Investment income			501,891		501,891	198,987
Other income						9,841
Total			501,$91	500,000	1,001,891	2,708,828
EXPENDITURE	ON
Raising funds				4,420	4,420	22,889
Charitable activities
General charitable	activities		743,$17		743,817	774,044
Total			743,817	4,420	748437	796,933
Net gains/(losses)	on investments			(855,133)	(855,133)	316,076
NET INCOME/(EXPENDITURE)			(241,926)	(359,553)	(601,479)	2,227,971
Transfers between funds		14	241/26	(241/26)
Net movement in	funds			(601,479)	(601,479)	2,227,971
RECONCILIATION OF FUNDS
Total funds brought forward				13,063,745	13,063,745	10,835,774
TOTAL FUNDS	CARRIED FORWARD			12,462/66	12,462/66	13,063,745

				5.4.23	5.4.22
		Unrestricted	Endowment	Total	Total
FIXEDASSETS	Notes	fund	fund	funds	funds
Investments
			11,S36,668	11,836,668	12,575,615
CURRENT ASSETS
Debtors Cash at bank	12	3,056 4,444	626,798	3,056 631,242	497,947
		7,500	626,798	634,298	497,947
CREDITORS
Amounts falling due within one year	13	(7,500)	(1,200)	(8,700)	' (9,817)
NET CURRENT ASSETS
			625,598	625,598	488,130
TOTAL ASSETSLESSCURRENT
LIABILITIES
			12,462,266	12,462/66	13,063,745
NETASSETS
			12,462,266	12,462,266	13,063,745
FUNDS	14
Endowment funds
				12,462,266	13,063,745
TOTALFUNDS
				12,462,266	13,063,745

	for the Year Ended	5April 2023
		5.4.23	5.4.22
	Notes
Cash flows from operating activities Cash generated &om operations	16	(747,990)	(766,092)
Net cash used in operating activities		(747,990)	(766,092)
Cash flows from investing activities Purchase offixed asset investments		(118,186)	(15,972,065 )
Sale offixed asset investments		2,000	13,788,583
Interest received		3,897	129
Dividends received		497,994	198,858
Net cash provided by/(used in) investing	activities	385,705	(1,984,495 )
Cash flows from flnancing activities Income attributable to endowment		500,000	2,500,000
Expenditure attributable to endowment		(4,420)	(22,889)
Net cash provided by financing activities		495,580	2,477,111
Change in cash and cash equivalents the reporting period	in	133/95	(273,476)
Cash and cash equivalents at the beginning ofthe reporting period		497,947	771,423
Cash and cash equivalents at the end the reporting period	of	631442	497,947

	DONATIONS AND LEGACIES	DONATIONS AND LEGACIES			5.4.23	5.4.22
	Gifts				400,000	2,000,000
	Gift aid				100,000	500,000
					500,000	2,500,000
3.	INVESTMENT INCOME
	Investment income	comprises:			5.4.23	5.4.22
					f,
	Interest received on	UK investments			3,897	3,946
	UK Dividends Interest received on Overseas Dividends	overseas investments			497,994	165,475 9,552 20,014
					501,891	198,987
4.	RAISING FUNDS
	INVESTMENT MANAGEMENT		COSTS		5.4.23	5.4.22
	Portfolio management				4,420	22,889
5.	CHARITABLE ACTIVITIES COSTS
				Grant
				funding of
				activities	Support
				(see note	costs (see
				6)	note 7)	Totals
	General charitable	activities		641/10	102407	743,817

GRANTSPAYABLE
		5.4.23	5.4.22
General charitable activities		641,510	683,300
The total grants paid to institutions during	the year was as follows:	5.4.23	5.4.22
Build Atrica/Streetchild Eastside Young Leaders Academy Foundation and Friends ofthe Royal Botanic Gardens Kew National Deaf Children's Society Royal Shakespeare Company First Give Wave Project Music Masters Kent Academies Network Primary Robbins Envision		25,000 3,000 25,000 18,000 21,510 10,000	20,000 2,400 15,000 22,120 13,125 8,000 13,265 21,510 10,000
Royal National Theatre - NT Connections, News Views and Let's Play programmes English National Ballet Springboard Foundation Royal Ballet School Schoolreaders Chance to Shine Seaview Into University Rugby Football Foundation Sporting Way Victoria and Albert Museum Young Minds London Children's Ballet Small grants 81,000 and less -3(2021:Nil) Bush Theatre Company Caterham Primary Maths programme World Heart Beat Music Academy Untold Creative Training		250,000 30,000 20,000 5,000 14,000 40,000 5,000 125,000 10,000 5,000 25,000 10,000	250,000 24,000 30,000 20,000 5,000 14,000 12,500 40,000 11,000 4,100 125,000 10,000 11,000 1,280
		641,510	683,300

SUPPORT C	OST	S
						Governance
				Management	Finance	costs	Totals
General charitable		activities		88,846	81	13/80	102407
Support costs,	included		in the above,	are as follows:
MANAGEMENT						5.4.23	5.4.22
						General
						charitable	Total
						activities	activities
Wages Social security Pensions Website costs Postage and stationery Travel and subsistence						77,013 4/16 1,170 564 362 1@75	72,592 5,001 1,065 431 986 203
ITSupport						4,146
						88,846	80/78
						5.4.23	5.4.22
						General
						charitable	Total
						activities	activities
Bank charges						81	116
GOVERNANCE		COSTS				5.4.23	5.4.22
						General
						charitable	Total
						activities	acttvtttes
Auditors' remuneration Professional fees						5,760 7,620	5,400 4,950
						13@80	10/50

STAFFCOSTS
				5.4.23	5.4.22
Wages and salaries Social security costs Other pension costs				77,013 4/16 1,170	72,592 5,001 1,065
				82P99	78,658
The average monthly number ofemployees		during the year was	as follows:
				5.4.23	5.4.22
				2	2
Administration
No employees received emoluments	in excess off60,000.
COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES Unrestricted				Endowment	Total
			fund	fund	funds
INCOME AND ENDOWMENTS Donations and legacies	FROM			2,500,000	2,500,000
Investment income Other income			198,987 9,841		198,987 9,841
Total			208,828	2,500,000	2,708,828
EXPENDITURE ON Raising funds				22,889	22,889
Charitable activities General charitable activities			774,044		774,044
Total			774,044	22,889	796,933
Net gains on investments				316,076	316,076
NKT INCOME/(EXPENDITURE) Transfers between funds			(565,216) 565,216	2,793,187 (565,216)	2,227,971
Net movement in funds				2,227,971	2,227,971

	Notes to the Financial Statements -continued for the Year Ended 5 April 2023	Notes to the Financial Statements -continued for the Year Ended 5 April 2023	Notes to the Financial Statements -continued for the Year Ended 5 April 2023
10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -continued Unrestricted Endowment			Total
		fund	fund	funds
	RECONCILIATION OFFUNDS Total funds brought forward		10,835,774	10,835,774
	TOTAL FUNDS CARRIED FORWARD		13,063,745	13,063,745
11.	FIXEDASSET INVESTMENTS			Listed
				investments
	MARKET VALUE At 6 April 2022 Additions Disposals			13,190498 118,186 (2,185)
	At 5 April 2023			13/06/99
	PROVISIONS At 6 April 2022 Provision for year			614,783 854,948
	At 5 ApB1 2023			1,469,731
	NET BOOK VALUE At 5 April 2023			11836668
	At 5 April 2022			12,575,615
	Investments at market	value comprise:-	5.4.23	5.4.22
	Multiple Asset Class		11,836,668	12,575,615
	Ofthe investments held atthe balance sheet date fNil (2022: KNil) relate to overseas holdings.
12.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR		5.4.23	5.4.22
	Other debtors		3,056


13.	CREDITOR	S	: AMOUNTS FA	LING DUE WITHIN ONE	YEAR		5.4.23	5.4.22
	Other creditors							1,117
	Accrued expenses						8,700	8,700
							8,700	9,817
14.	MOVEMENT IN FUNDS
						Net	Transfers
					movement		between	At
				At 6.4.22	in	funds	funds	5.4.23
	Unrestricted		funds
	General fund				(241,926)		241,926
	Endowment	funds
	Expendable	endowment
				13,063,745	(359,553)		(241,926)	12,462466
	TOTAL FUNDS			13,063,745	(601,479)			12,462/66
	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			501,891	(743,817)			(241/26)
	Endowment		funds
	Expendable	endowment
				500,000		(4,420)	(855,133)	(359,553)
	TOTAL FUNDS			1,001,891	(748437)		(855,133)	(601,479)

Comparatives	Comparatives	for movement	for movement	in funds
							Net	Transfers
							movement	between	At
						At 6.4.21	in funds	funds	5.4.22
Unrestricted General fund		funds					(565,216)	565,216
Endowment		funds
Expendable	endowment
					10,835,774		2,793,187	(565,216)	13,063,745
TOTAL FUNDS					10,835,774		2,227,971		13,063,745
Comparative		net movement		in funds, included	in the above are as		follows:
						Incoming	Resources	Gains and	Movement
						resources	expended	losses	in funds
Unrestricted General fund		funds				208,828	(774,044)		(565,216)
Endowment		funds
Expendable		endowment
						2,500,000	(22,889)	316,076	2,793,187
TOTAL FUNDS						2,708,828	(796,933)	316,076	2,227,971
A current year 12months			and prior year 12months			combined position is as follows:
							Net	Transfers
							movement	between	At
						At 6.4.21	in funds	funds	5.4.23
Unrestricted funds General fund							(807,142)	807,142
Endowment		funds
Expendable		endowment
						10,835,774	2,433,634	(807,142)	12,462,266
TOTAL FUNDS						10,835,774	1,626,492		12,462,266

as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
Unrestricted	funds
General fund		710,719	(1,517,861 )		(807,142)
Endowment	funds
Expendable	endowment
		3,000,000	(27,309)	(539,057)	2,433,634
TOTAL FUNDS		3,710,719	(1,545,170)	(539,057)	1,626,492

RECONCILIATION OFNET (EXPENDI OPERATING ACTIVITIES	TURE)/INCOME TO NET	CASH FLOW FROM
		5.4.23	5.4.22
Net (expenditure)/income for the reporting Statement ofFinancial Activities)	period (as per the	(601,479)	2,227,971
Adjustments for: Losses/(gain) on investments Interest received		855,133 (3,897)	(316,076) (129)
Dividends received		(497,994)	(198,858)
Income attributable to endowment Expenditure attributable to endowment Increase in debtors Decrease in creditors		(500,000) 4,420 (3,056) (1,117)	(2,500,000 ) 22,889 (1,889)
Net cash used in operations		(747,990)	(766,092)

ANALYSIS OF CHANGES IN NET F	UNDS
	At 6.4.22	Cash flow	At 5.4.23
		f.
Net cash Cash at bank	497,947	133/95	631/42
	497,947	133,295	631742
Ttl	497,947	133/95	631/42