Charlty number.. 1112912 THE REGAThA FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
THE REGAA FOUNDATION coTrtTEKf8 Paga Rpference and admlnlstratlvo d•talls ottho Charfty. Its Trustees and advlsers Trustees. report Independent audltorfs rnport on the Ilnanclal statamgnts Statoment of f nancl•l actlvltl Balanc• sh8•t 10 Notss to the Ilnanclal statsmgnts
THE REGAA FOUNDATION REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2021 Trustep8 K J Black J 81ad( IMS) G J Rick8rd Charlty roglsterod number 1112912 Prlnclpal offlc• Risol House Mercury Way, Dumpling Umiston Manch8sl8r M417RR Indèpendent audltor Crowe U.K. LLP 3rd fioor The Lexlcon Mount Streèt Mancheslar M2 5NT Bankers HSBC 11 ChLJrch Street Wsrrington Cheshire WA12EY Page I
THE REGAThA FOUNDATION TRLISTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2021 Th9 Trust88s present thoir annual r8POrt t(oeth8r wrth the audited finan(aal Ststements of th8 Charity for the 6 Aprll 2020 10 5 Aprfl 2021. ObJéGtlves and actlvltles a. Pollclgs and oblectlvos The objectives of the charity State.. he Trust888 shall hold the catal and InMe of the trust fijnd ukx)n trust to appty the capital. in the making of grants and d¢)nalions at Such lime or Ilmes in such a manner to. or for the bene)It of. such exclusively chadtabl8 objects and purFW)¥es in any part of the worfd as th8 trusla85 may In thelr absolute disfxetion thlnk fit. In s8tUng the oblectiv8s and planning for actNitre8. the Trustees have given due consideration to the gen8ral guldance publlshed by the charity MmIsSn relab'ThJ to pU1C beneff(. b. Actlvltlos undertaken to achleve obloctlves Th8 Trustee8 meet those 81m8 ty making grants lo ¢knble Insdbjtbns as set out In notè 3 to thè account8. A¢hlov•ments and rfOrniance . Rovl8w of actlvltl•s Income for the year was £1,356.011 (2020: £197.565) aThJ total expenses re £369,411 (2020.. £210.8531. This produced a surplus for the year of £986,6CKI (2020.. dthl of £13,288). During the y8ar grants of £365.411 12020: £210.0001 were made lo inslllutlons. No grants wem madg 10 Individuals12020.. NIL). Unrestricted fiJnd5 althe year end were £990,283 (2020.. £3,683}. b. FundralGlng actlvltles and Inme genorntlon Tho charlty had m fundraising adiviti8s raquiring disdosure under S162A of the Charitye5 Acl 2011. Flnancl81 revlew a. Golng concem The Covi&19 pandemic has not had a signlficant. Immedlate Impact on thè chadtys operatkjns. After making appropriate enquiries. the Trustees have a reasonable expectatr)n that the Charty has adequate resources lo continue in Operatial existence for the foreseeable future. For thls reason, they continue to adopt the going concern basis in preparing thè financial ststements. Further details regarding the adoption of the going Goncem basis can be found in the acc(yJnting poli(aes. Page 2
THE REGAA FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021 h. R•s•Thes polky Th8 Irus188s nSider the th8 re58rv8s of the Charity should b8 sufficient to guarant88 th8 long term future of th8 Charlty. Free reserves at 5 April 2021 amount to £9.283 {2020.' £3,683). The charfty has a target free reserves level of £nil a8 It has no financial commltmgnts other than the extent to whlch It award8 grant funding. Tha funds are transfeed from Regatta Ltd and distributed as and wh9n donations are made. Structure. governanc• and maMgemenl . Constitutlon Th8 Regatta Foundatlon a regisl8rgd tharfty. number 1112912, and ig nstItUtel und8r a Trust deed dated 29 Nov8mber 2005. The chaflty was registered as a thadty wtih Ihe Charfty Commlssion on 3 February 2006. b. Methods of appolntmènt or electlon of Tts•S The management of the Charity is lh8 respon8ibillty of the Trustses vtho are eWed and ctropted under th8 terrns of the Trust deed. Plans lor futurn rIodS The trust plans to ¢xntlnue to make grants lo ch8rllabl8 ifLsbiubons for tho forgseeable future. ststefflent of Trustee5' re5ponslbllltks Th8 Trusle8s ar& r8sponsibl8 for preparing th8 Tn]sta8s' r8POrt and th8 financial stat8m8nts In accordan wfih appllcable law and Unlted Klngdom A¢untIng Stsndards (Unrted Klngdom Generally Accepted Accounting PractiC8}. Th8 law 8pplic2bl8 to chariti8s In England & Wales requires th8 Tnjsteas to prepare financial stat8ments for 8ach flnandal whlch glve a tfU8 and falr vlew of the state of affalts of Ihe Chadly and of Ks Incomlng resources and application of resources, Including tts incomè and èxpenditure. for that perlod. In preparfng these financlal statements, the Trustees are required to.. select suitable accounting poliCS and then apply them n$Stenty. obse8 the methods and prin(#ples of the Charities SORP IFRS 102)., make ju¢Ygments and accounting eslimales that are reasonab and prudent., slate whether appllcable UK Accountsng Standards IFRS 1021 have been followed. SUbCt to any material departures dlsclosed ané explalned In the finanal ststements. pr&pare the financial statements on the going oJnrEm basis unless It 15 inappropriate lo presume that the Chanty will continue in business. The TNslees are responsibla for keeplng adequate a¢x¢JJnting reLX)rd5 that are sufftient to show and explain the Charitys transactions and disclose with reasonab ac(yJracy at any lime the financial posIon of the Charity and 8nabl8 thgm to 8nsurg that the finanryal statements wmpty wrth tho Charfcias Act 2011, the Charity (Accounts and R8POrtsl Regulatlons 2008 and the provL8k)ns of the Trust deed. They are also respon81ble for safeguarding th8 assets of the Charity and h&nc8 for taknng re8sonab19 Staps for the pr&v8ntion and d8tection of fr8ud 8nd other Irregularftl8S. Page 3
THE REGATTA FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED S APRIL 2021 Dlsclosure of Infonnatlon to audltor Each of tha persons who are Tru8tses at th8 Ime when this Tru8tees' report Is approved ha8 confimed that.. so for as that Trust88 is awar8, ther8 is no relevant audil information of which the ¢*aritls auditor Is unaware, and th81 Trustee has tsken all the 81ep8 thal ought to have been tsken ag a Trustee In order lo b8 awor8 of any relevath audit information and to estsblish that the auditor is aware of that informatlon. Audltor Th8 auditor, Crowe U.K. LLP, has Indicated his WTllingness io Li)ntinue In office. The deslgnaled Truslges will propose a motion reappointing the auditor at a meetiThJ of the TNstees. )prov8d by order of th rd of Trustees and signed on thelr behalf by. Date: 21 Page 4
THE REGAA FOUNDATIOM INDEPENDENT AUDITOR'S REPORT TO ThE IAEMBERS OF THE REGATTA FOUNDATION Oplnlon We havé audited the fin8ncAal statements of The Regatta Ftsundati (Ihe 'charityl for the year endod 5 April 2021 whkh compriso thg Stalemenl of finanoal adivities. the Baknce sheet. the Statement of cash flows and the related not8s, includlng a summary of significanl accounting policies. Th8 financial r8porUng framework that has been appliad in their preparaOn is applicab law and Uned ngdoM Accountlng Standards. including Financial Reporting Standard 102 The Financial ReFKwtino Slandard applicable In th8 UK and Republlc of Ireland, (Unltgd lfjngdryn Genorally Aepted Accounllng Pra¢t'¢e). The financial 8tstsTnents have been prepar&J in 8ccordan with A(ntIng end Reporting by Charities preparing thr accounts in accordance with the Finanual Reporting Standards applicable In the UK and Rapublic of Ireland IFRS 1021 in pref8r8ne8 to th8 Ac£ounllng and R8porbng by Charities.. Statement of Racommended Pracuce Issued on 1 Aprll 20Q5 whlch Is referred to the exiant regulauons but has been withdrawn. This has been done in order for the accounts to provbje a true and falr eW In accordance vAih th8 G8n8rally Accgptad Accounting Practic8 8ffectlV8 for r8POrtlng p8riods beginning on or after 1 January 2015. In our oplnlon the finandal statements: give a Irup fair view of the stste of th8 chanws affalrs as at 5 Apdl 2021 and of Incoming resourcas and appllcatlon of resources for the year then ende(I' have been properfy pwpared In accordance wih Unlted iQngdom Generally Accoptgd Accounting Prdctlce., and have been prepared in acojrdance with the requiremenls of the Charlti8s Act 2011. Bas15 for oplnlon We conducted our audit in accordance with InternatK)nal Standards on Auditing (UK) {ISAs IUKII and Bpplicabl8 law. Our r8sponsibiliti8s under those Standards ar8 ftJrth8r d8scrib8d in the Auditorfs responsibilities for tha audlt of the fin8ncl81 statements sectlon of our report. We are Independent of the charity in accordance with the elhlcal requirements that are revant to our audlt of the finandal statements In ihe Unitèd Kingdom, inclLiding the Flnancial R8portsng Council's Ethk?I Standard. and we have fulfilled our other ethical rosponsibllllies in accordance with these requirem8nls_ We believe that the audit evidenc8 w8 hav8 obtain8d is sufficient and ppropriale to provide a basis for our opinion. Concluslons Mlatlng to golng eonc•rn In aud1tlng the financi81 ststements, we have (£du(l Ihat the Trustees, us8 of the golng concem basis of accounting in the preparalion of the financial statements is appropriate. Based on tho work we hav8 perfomied. we have not klenUned any material uncertain5 relating to ernts or conditions that, individualty or collectively, may cast signtfiLxnt doubt on the charitys ability to u>ntinue a8 a going concem for a period of at leasl e1ve months from wh8n th8 finanual statsmenls are authorised for Issue. Our responsibilities and the responsibilities of the Trustees Ythti re¥)ect to going conlxm are described in the r818vant sectlons of this report. Page 5
THE REGATTA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGArrA FOUNDATION {CONTINUEDI Othér InfOrMaOn Th8 other information comprfses the Informatkjn Induded In the Annual report other than Ihe finan¢181 stslemenls and our Audltorfs raport thereon. The Trustees are responsibl8 for the Other information contalnad wlhin the Annual report. Our ownion on the finanaal statements does not cover the other Infomiatlon and, except to the extonl otharwls& 8xplicitty stated in our r8POrt, we do not expr855 anyform of assurydnce conclusion Ihereon. Our responslblllty 18 to read the other Snformauon and. in doing so. consider whether the other InforrllaDn Is materially inconsistent with the financial statements or our knowledge obtained in th8 Cou9 of th8 audit. or otherwise appears to be materialty mssstalod. If we idendfy suc m818rial inconsisloncies or apparent matsrfal misslatoments, we are required to detemline whether thls gfves rise lo a material misstatèment In the flnanci81 statements themselves. If. based on the work wa have performed, we ndurt8 that ther& is a material misslalement of this other Informab'on. we are required to report that fact. W8 have nothing lo rem in thls regard. Matt•rs on vthlch we are requlrod to report by excopllon W8 have nothing to rewrt in respect of th8 follovAng matters whevp the Charill89 (Accounts and Reports) Regulations 200e r•4uires u8 to rewrt to rf, in our opinvJn: the Infomiatlon glven In the Truste8s' rewjrt is InnSiStent in any material respect wtth the flnandal slalements., or sufflcltrnl accountSng rectsrds have not been kept" or the flnanclal statements are not in a9reement vrilh the accounting records and retums,. or we have not received all the information and explanations we require for our auiJiL Responslbllltles of trusltts AS explain more fully In the Trustees. responsibilities stslemenl. the Trustees are responsible for the preparation of the flnancAal stal8monts whlch gwe a tnja and fair vtèw, and for such intemal control as th8 TNstees del8rmine is necessary to enable the preparatton of finarKial stateTnents that ar8 free from matsrfal misslat8ment, whether due to fraud or errLK. In pr8parfng th8 financlal slal8m8nts, the Truste are r8spinsible for assessing the charitys ability to (YJnlinu8 as a golng concern. dlscloslng, as app1Kb. matters rBLgled to going Ctsnrn and using the going concern basis of accounting Unl the Trustees elther intend lo liquidate the char'ty or to cease operatrjns, or hav8 no realistic altemative but lo do so. Page 6
THE REGATTA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGAThA FOUNDATION (CONTINUED) Audltorfs responslbilhles for t audli of the financl81 ststemènts We have been appointed as auditor under section 144 of the Charib8s Act 2011 and report In accordance wth the Act and relevarrt regUlOnS made or having Bffect th&r8under. Our objectlves are to obtaln reasonable assuran about whelher th& finandal statemen15 as a whole are free from materfal mlsstatement, whether due to fraud or error. and to issue an Auditorfs report that Includes our opinion. Reasonable assur8nce is 8 hYJh level of assurance, bul is not a gu8r8nte8 that an audll conducted in accordance with ISAS {UKI will always deteci a materfal mlsstatement when It exists. Mlsstalements can ark88 from fr8ud or 8Thor and ar8 considered material rf. indmdualty or in the aggr8gal&, th8y could reasonabty be 8xpected to Irffluence the nomIC dedsions of users taken on the basis of these flnancial slatemonts. Irregularities, induding fraud, are instances of non-(xjmpllan th laws ST regulations. We desSgn procedures in line with our responsibilities. (yjtllned above. to detect Tnaterial mlsstatements in respect of irTegularlties, including fraud. Th8 extent lo which our procedurgs are Pable of dgtgctlng irrogularltles, including fraud 18 detailed bekiw.. W8 obtainod an understandlng of th8 18gal and regulatory trameworks vthhin which the tharity operates, focuslng on those laws and regulauons thal have a direct effect on the éeleminatr)n of malerlal amounts and disdosures in the financ181 stslements. Thè laws and gUlationS we c#Msid8r8d in th1$ context were the Charities Act 2011 together with the Chartbes SORP IFRS 1021. We assessed the r8qulr&d wmplianc8 with these laws and r8gulations as part of our audit prdur•S on lh8 r8lat8d flnandal stat8ment items. In additlon, we COndered provi81ons of other law8 and gUlatIonS that do not have 8 direct afféct on th8 flnancial statements but compliance with which might be fundatnenlal lo the chartws abilty to operate or to avoid a moterial penalty. We also considered the Opportunies and incentives that may e81 within the chanty for fraud. The key laws and regulatn5 we ¢ons6dered In thSs o)ntexl wer8 Goneral Data Protection Regulation, and heatth and safety18gL¥latlon. Audltlng stsndarés Ilmit the requlred audit prcKedures to identify rK)n-C(Anpliance with these laws and regulati8 to enoulre of the Trustses and other m8n8gement and Irp8¢b'0n of regulatory and lègal corr8spond8nce, il any. We identified the greatest risk of material impact on the financial statements from iTregularilies, Includlng fraud, to be the override of controls by management. Our audit prcThdures lo respond lo these risks included enquides of management and the Board about their own klentrflcation and assessmonl of th8 risks of Irregular((ies, sample testing on the posting Of loumals. revlewng accounng 8sllmales for blases, and readlng mlnules of m88tings of thos8 charg8d wilh gov8manc8. Owing to the inherent limitations of an audit. there Is an unavoidable risk that we may not have detected somg material misst818m8nts In Ihg finanaal ststements. oven though we havg prop8rly planned and performed our audit in accoTéancè wllh audiung 8tandards. For example. the further removed non-complianc8 with laws and r8gulalions (irregularities) is from the events and trdnsactFons rellected in the finanrAal ststements, th8 less likely th8 Inher&nUy Ilmrted procedures required by audth'ng standards would Kjentty it. In addf(ion, as with any audrt, there remained a higher risk of non-deteclion of iegUlaritIes, 8s these may involv8 collusion, forg8ry, Intentional omlssions, misrepresentations, or Ihe override of intemal controls. We are not re5ponslble for preventing noncompllance and cannot bg 8xrKted to detect non-cnmpliance all laws and regulations. A further descdpUon of our reSE81b11[es for the audll of the finandal statements Is located on th8 Flnancial R8rM)rting CouncAfs websit8 at: wvA¥.frc.o .uklauditorsre nsibilities. This description fom)s part of our Audllofs report. Page 7
THE REGAThA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGATTA FOUNDATION (CONTINUED} Us• of our r•port This rewrt is m8de sol8ly lo Ihe chartws trustees, as a LNxly, in accordanc8 with Part 4 of th8 Charftl88 IAGcounls and ReF)orts) Regulations 2008. Our audit work has been undertaken so thal w8 mlght slate to tho charitls trus18es thos8 matters we are required to state lo them In an Audrtorts report and for no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and Its tNslees, as a $dy. for our audK work, for this report, or the oplnlons we hav8 formed. UK LLF cro U.K. LLP Statutory Audhor 3rd floor The Loxicon Mount Slrget Manchestsr M2 5NT D8t8: 28th April 2022 Crowe U.K. LLP 8re eligible to act as audltors in tsrms of secbon 1212 of the Companles Act 2006. Pag8 8
THE REGAThA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2021 Vnrnstslctsd funds 2021 Total funds 2021 Tolèl funds 2020 Incom• from: Donations 8nd legacies 1.356.011 1.356.011 197,565 Total Income 1,3S6,011 1,356.011 197,565 Exp•ndlture on: Charitable a¢Xlvltle8 369.411 369.411 210,853 Toial expBndlturg 369,411 369,411 210,853 Nèt Movèment In funds 986.61)0 988,600 (13,288) Raconclllatlon of lunds.. Total funds brought forward Net movement in funds 3.683 986,600 3.683 986,600 16,971 (13.288) Total fvnds carrled forward 990,283 990.283 3,683 Th8 Stsi8ment of finanti81 actvlbes Includes all gains and losses c03n1Sed In the year. Thè not&s on pages 11 to 18 fomi part of these financial statements. Pagè 9
THE REGATTA FOUNDATION BALANCE SHE AS AT 5 APRIL 2021 2021 2020 Current assets Cash at bank and In hand 995,115 4,515 995,11S 4.515 Creditors- arnDunts falling due within one year (4,832) (832J Not curr•nt assèt8 990283 3,683 Total assets lass currnnt Ilablllt 990,283 3,683 Net assets 6x¢ludlng penslon asset 990.283 3,683 Totsl net assets 990.283 3.683 Charlty funds Restricted funds 10 10 Unrestricted funds 990.283 3,683 Total funds 990.283 3,683 The were appro and authorfsed for issue by the Trustees and signed on their beha by.. Date: ki £LéC The noto8 on pag8s 11 to 18 fom part of these flnand81 statements. Pag& 10
THE REGAThA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Accountlng pollel•s 1.1 Basls of preparatlon of financlal statemènts The financial statements have been prepared In accordance the charte8 SORP IFRS 1021- Accountlng and Reporbng by Chariti"es.' Statement of Recommended Practlce appltcable to ch8riU85 preparlng their aLuJunts in aCLK1rdan with the Financial Reporting Stsndard applicable in the UK and Republic of Ir&land IFRS 102118ffèctiv8 1 January 20191, the Finandal R8Wrtir Standord appllcable In the UK and Republ of Iroland IFRS 1021 alld the Charities Act 2011. The finan¢ial Statements havg be9n propared to glvo a and fairf wew and havo dgparted from the Charities IAccounls and Reports) Regulations 2008 onty to th8 &xtenl rèqulred lo provlde a 'tru8 8nd falrf vlew. Thls departure ha5 Invoed following the Charities SORP (FRS 1021 published In Octobèr 2019 rather than Ihe Accounting and Reporbng by Charities: Ststement of Recommended PractirA eff8CtiV8 frcHM 1 Aprll 2005 which has slnc8 bèen wrfhdrawn. The Regatta Foundalkn meets thè dè11non of a publk b#n6fit èntty under FRS 102. Ass8ts and liabilities are initialty recognised al hi%lorical Gost or transaction value unless otherwlso slated in tha r818vant aCnting poticy. 1.2 Income All income is recognised once the Charity has enldement lo the Income. It Is probable that th8 income will be r1ved and the amount of inLY)rne re(Eivable can be measured reliably. Olhar incomè is r8cx)gnisèd in th8 P8Yiod in r( is r8c4iv8ble and to the extent tho goods have en provlded or on wmpletion of Ihe serviL7. 1.3 Exp9ndlturg Expenditure is recognised once there is a legal or ccinstructwe obligation to transfer economic benefll lo a third paty. it is probable that a transfer of economic benefils will be required in setUern8nt and amount of th8 obligation eAn b8 m8asurèd liablY. Exp8ndilure is classifi8d by actlvty. The costs of each actfvlty are made up ofthe total of direct sts and shared costs, includlng 8UPPOrt sts involved in undertaking 8ach actsty. Dir8Ct costs attributable to a singl8 activity are allocated directly lo that actiMty. Shared costs which contrlbule to more than one actlvlty and support costs which are not attributable to a single activty are app)rtlonad belweèn those actlvlties on a basis consislenl with the use of reSoUs. Central staff costs are allocaied on the basis of lime spent. and depreciation Charges allocated on the portion of the asset's use. Expenditure on charitable actimties incurred on direcuy undertaknng the aCtsbe$ which further the Charitys obJ8ctiv8s, as well as any associated support costs. Grants payable are ¢*targed In the year when the offer is made except in those case5 where the offer Is condthonal, such grants bèing rècognis8d as 8xp&nditur& whèn the ¢(dItionS attaching are fulfilled. Grants offered sublect lo conditions which have not bn met at the year end are noted as a commitment. but not accrued as 8xpendilure. expendlture Is Indusfve of irreLxJvernble VAT. 1.4 Cash at bank •nd In hand Cash at bank and in hand indudes cash and short-terni highly liquid investments with a short maturfty of thr88 months or kss fmm the date of aUL$llOn or opening of the deposit OT slmilar account Page11
THE REGAThA FOUNDATION NOTES TO THE FINANCLAL STATEMENTS FOR THE YEJR ENDED 5 APRIL 2021 AcGountlng pollcles Iconllnuod) 1.5 Llabllltlos and provlslons Liabil'e8 are reLX)gnised when there is an obligation at the Balance sheet date as a r88L41t of 8 past èvent, it Is probable that a transfer of eomomlc benefit will be requlred in setttemanl, and the amount of th8 settlement can be 8sb"m8ted rellably. Llabililles are recognised at th8 amounl Ihat the Charfty anttdpates11 wlll pay to settle the debt or the amount il has received as advan(d p8yments for the go(NJs or Bervi(%8 it must provide. Provisions are m8asured at the b8sl estlmate of th8 arnounts r8quir8d lo s8tUe tha obligation. Wher8 the effect of the time value of money Is maledal. Ihe provlslon is basèd on thè present value of those amounts, discounted al Ihe pre-tsx discount rdte that reflects the rtsks specific lo tha liabillty. The unwlndlng of the dIscJnt is recognised in the Statement of finandal activities as a flnance cost. 1.6 Flnanclal Instruments The Charity only has financial ass8ts and financial liabilities of 8 knnd Ihal qualify as basic financial instruments. Basic financial instruments are InIalty r8L¥)gnised at Iransaction value and subsequèntly measured al their settlement value with the exception of bank loans which ar8 subsequ8ntly measured at amortised cost using the effeotive interest methcJ. 1.7 Fund accountlng Genaral funds are unrestricted fvnds whth are available for use at the discr&tion of the Trustoes In furtheranca of th8 g8n8ral objeciives of the Charity and whlth hav8 not been deslgnated for other pUoSe$. 1.8 Crltlc•l aGcountlng estlmatos and arnas of Judgment Estlmale5 8nd judgments are L¥)ntinualty evaluated and are based on hlslorical 8xperf8nco 2nd other factors, including expectations offvture events th* are believed ID b8 r8asonabl8 under th& circumstances. CritScal accounllng eslmales and assumplior'. The tharlty has not mada any eslimates and assumptions o)nceming the future. Pag8 12
THE REGATTA FOUNDATION MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5APRIL 2021 Incomo from donatlons and logacl Unre8trlcted funds 2021 Total funds 2021 Donatlons 1,356,011 1,356,011 Unrestricted funds 2020 Total fvnds 2020 Donauons 197.565 197,565 Analy818 of grants Grants to Instltutlons 2021 Total funds 2021 Grarrts. Donation5 365,411 365.411 Grants to Institutions 2020 Total funds 2020 Grants. Donath)ns 210,000 21 0,000 Page 13
THE REGATTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Analys15 of grants (contlnuedl The Chartty has made the fdlowng grants to insbtulions during th8 ye8r.' 2021 2020 Name of Instltutlon Centre for Social Justic8 RSBC 10,000 100.000 90,OOD 100,000 65,411 15.000 Newlrfè Onside Youth Zone Amounts below £15,000 700,000 95,000 36SN11 210.000 365A11 210,000 Analysls of axpondlture on ¢harEtabl8 actmdes Summary byfund typo Unrestrlcted funds 2021 Total funds 2021 Dlr8cI costs 369.411 369,411 Un$th¢ted funds 2020 Totsl funds 2020 Dlrecl costs 210,853 210,853 Page 14
THE REGATTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Analysls of WAp•ndlturn by aetlvltle8 Grant fundlng of actl¥ltl•$ 2021 Support costs 2021 Totsl funds 2021 Dlr8Ct costs 365,411 4,WO 369A11 Grant funding ol Support costs Total fUS 2020 2020 2020 Direct costs 210.000 853 210,853 Audltorfs remuneratlon 2021 2020 Fees payable lo the Charitys auditor for th8 audit of th8 Charitys annual accounts 4.OlXI Fee8 payable to the Charitys independent examiner for th8 independent examination ofthe Chaws annual aczounts 832 Trust•es' remunerall¢n and w10nS Dudng th8 year, no Tnjstges received any remuneratlon or other bènefits (2020- £NIL). Durfng the year ended 5 April 2021. no Tru$tee expenses havg b88n Incurred (2020- £NIL). Page15
THE REGAA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 Credltors: Amounts falllng du• wlthln y•ar 2021 2020 Accruals and deferred Inttjma 4,832 832 Flnanclal Instruments 2021 2020 Flnanclal ass•ts Financial assets mea8ured at amortised cost 995.115 4,515 Financlal assets measured at amorused st mprise of lash al bank FlnancAal IlabillU8s m&asur8d at amortisj cost ¢xmprise ac£ruals. 10. Statsment of funds statement of fund3- current year Balance at 6 Aprll 2020 Balance at 5 Income Expendltur• April 2021 Unrestrlctod funds Gen8r81 Funds 1A56.011 1369.411) 990,283 Ststoment of funds- prlor year Balanc& af 6 Apnl 2019 B81anc8 81 Incom8 Expendituro 5 April 2020 Unrestrlctod lunds General Funds 16.971 197,565 (210,853J 3,683 Pag8 16
THE REGArrA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021 11. Summary of funds Summary of fund8- currgnt ygar Balance at 6 Aprll 2020 Balanc• at s Aprll 2021 Incune ExndIture General ndS 3,683 1.356,011 {369.411) 990,283 Summary of funds . prfor ygar 8alanGe al 6Apnl 2019 Balance al Income Expgndlturn 5Apn"12020 General fvnd5 16.971 197.565 (210,853) 3,683 12. Analysls of net assets belw8•n funds Analysls of nat assets l)elween thndg- rrent year Unre8trfcted lunds 2021 Total funds 2021 Curmnt 8SS81s Credltors due withln one year 995,115 (4,832) 995,115 14,832) Total 990,283 990,283 Analysls of net assots botwoen fvnds . prlor year UnrestTrctgd furpds 2020 Tot81 funds 2020 Current assets Creditors due within one yEar 4,5q5 (832) 4,515 (832) Total 3,683 3.683 Pag8 17
THE REGAThA FOUNDATION NOTES TO THE FINANCIAL STATEMEprrs FOR THE YE*R ENDED 5 APRIL 2021 13. Ralat•d party transactlons During the year. grants of £100.000 {2020: £11)0.000) were awarded to Onside 88met Youth Zone, a Charityfor whith Mr K Black is a tNstee. Page18