Charlty number.. 1112912
THE REGAThA FOUNDATION
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021

THE REGA￿A 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 REGA￿A 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 ca￿tal and In￿Me 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 ￿MmIsS￿n relab'ThJ to pU￿1C 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 In￿me 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 Operati￿al 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 REGA￿A 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 transfe￿ed 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 T￿￿ts•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 poliC￿S and then apply them ￿n$￿Stenty.
obse￿8 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. SUb￿Ct to any material
departures dlsclosed ané explalned In the finan￿al 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 posI￿on 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 REGA￿A 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 prepara￿On is applicab￿ law and Un￿ed ￿ngdoM Accountlng Standards. including
Financial Reporting Standard 102 The Financial ReFKwtino Slandard applicable In th8 UK and Republlc of
Ireland, (Unltgd lfjngdryn Genorally A￿epted Accounllng Pra¢t'¢e).
The financial 8tstsTnents have been prepar&J in 8ccordan￿ with A(￿￿ntIng end Reporting by Charities
preparing th￿r 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 re￿vant 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 uncertain￿5 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 InfOrMa￿On
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 Inforrlla￿Dn Is
materially inconsistent with the financial statements or our knowledge obtained in th8 Cou￿9 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 In￿nSiStent 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 app1K*b￿. matters rBLgled to going Ctsn￿rn 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 regU￿lOnS 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 pr￿dur•S on lh8 r8lat8d flnandal stat8ment items.
In additlon, we COn￿dered 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 Opportuni￿es and incentives that may e￿81 within
the chanty for fraud. The key laws and regulat￿n5 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 regulati￿8
to enoulre of the Trustses and other m8n8gement and Ir￿p8¢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 accoun￿ng 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 i￿egUlaritIes, 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 reSE￿81b11[￿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 chart￿e8 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 Invo￿ed 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 dè11n￿on 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 aC￿￿nting poticy.
1.2 Income
All income is recognised once the Charity has enldement lo the Income. It Is probable that th8
income will be r￿1ved 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 acts￿ty. 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 reSoU￿s. 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 aCts￿be$ 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 b￿n 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 a￿UL$ll￿On 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 dIsc￿Jnt 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 InI￿alty 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 methc*J.
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
pU￿oSe$.
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
fU￿S
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 w10n￿S
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 REGA￿A 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
amortis￿j 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 Ex￿ndIture
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