Chartty number.. 1112912 THE REGArrA FOUNDATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022
THE REGATTA FOUNDATION CONTENTS Page Refgrenco and admlnistrative detai ofthè Charity. Its rTh$t ond advlsorn TruBteg8' rgport Ind•pgnd8nt audltorfs report on the financial statemonts Slatsmènt of flnancial activities Balance sheet Not¢$ to the flnanclal statemerrt8 11- 17
THE REGArrA FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED SAPRIL 2022 Trustses K J Black J Black (Ms) G J Rid(ard Charlty registsrod number 1112912 Prfncipal offi Risol House Mercury Way, Dumplingtl Umston Manchester M41 7RR Indap•nd&nt auditor Cr(we U.K. LLP Statrrtcry Auditor 3rd floor Thè Lèxicon Mount Street Manchester M2 5NT Bank•rs HSBC 11 Churth Str86t Warrington Cheshire WAI 2EY Page 1
THE REGATTA FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 Th8 Trustee5 present their annual repJrt logethBr with th? audlted financial statements of the Charity for the year from 6 April 2021 to S April 2022. Oblectiyes and activiti08 a, PcAlcles and objectives Th8 objeth'ves of the charity state: 'The Trustees shall hEI th8 (2Pital and income of the trust fund upon tru81 to apply tho ¢apitsl, in the making of grants and donation3 at such bme or limes in Such a manner to, or fr)r thè benefit of, such exdusively Gharitsble objects and purposes in any part of the wodd as the trustees may in their absolute discreb.on think fft.. In setting the objectives and plannirvJ for acb¥ibgs. the Trustees have gNen due consideration lo the general guidane publishèd by thè charity commission relating to public benefrt. b. Activities undèrtaken to aehl•vo obJ•etl¥•s The TruBlees Tneet these aims by Man9 grants trj charitable instibjtions as set out in note 3 to th? 8ccounts. Achievements and performance a. Roviow of activlties Incorne lor the year wa3 £1,000.05712021". £1.356,0111 and lotsl exp?nses were £553.722 12Q21.. £369,411). This produc a Surplus for thè year 01 £446.33512021'. surplus of £986,600). During the year grants of £547,898 12021.. £365.411} were made to institutions. No grants were made to individuals12021." NIL). UnrestriLted fvnds * the year end were £1.436,618 (2021.. 990.2831. b. Fundrnising activ1d and Incom• ggnarntion Te charty had no fvndraising a('vitbes requiring disdosure under S162A of the Charities A(t 2011. Financial rgvigw a. Golng concorn The Covid-19 pandemic has not had a &gnfficant, immediate impact on the charitvs ¢)perations. After making appropriate enquirie5, the Trustees have a reasonable expectab'on that the Charity has adequal resources lo continue in opgraliwal exist¢n¢e for the foreseeable future. For this reason, they continue to adopt the going concern basis in prèparing the finanrAal statements. Further details regarding the adoption of the going concem basis ¢an be found in the accounting polie¥. Page 2
THE REGAThA FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 b, Res•N8s pollcy Thg trustees conslder the the reserves r)f the Chatity should be sufficient to guarantee the long lerrn future of the Charity. Free reserves al 5 April 2022 amount to £1.436.618 12021.. £990,283). The charity has a target free reserves level of £nil as fc has no finanal commitments other than the extent to which il awards grant funding. The trustees plan ltr ulilise thè frèè resèNes a8 of d8tÈ ovèr thè nèxt 2 yèars to bring in line with the resenie policy. The funds ar8 transferred fiyjm Regatta Ltd and distiibuted as and when donations are made. Structure govwnon¢fr and manag9ment . Con¥tltutlon The Regatta Found8tiort is 8 regi8tered ¢harty. number 1112912, and Is nStitut¥d under a Trust deed dated 29 November 2005. Tha charity was 18gistsred as a charity wth th8 Charity Commission on 3 February 2006. b. M8thod8 of 8ppolntsnent or aloctlon of Tru8to6s The management of tho Chartty 1$ the S>n"1ty ol the Trustees vtho are elected and co-opted under the lemis of the Trust deed. Plans for futurè pgriods tnjst plans to continue to make grants to charitable institulions for the foreseeable ture. ststem¢nt of Trustees. responslbllltlès The Trustges ar¥ sponsible for Pparing the Twstees, report and the finanaal statements in accordance wf(h applicable law and Uniied Kingdom Accting Standards (United Kingdom Generalty ACpted AccouFifjng Pracb"ce}. The law applicable lo thanties in England & Wales requim the Trustee8 lo prèp8rè finanaal st8t8mgnts for eh finan¢ial which give a true and fair view of the stste cTrf affaits of the Charity and of its incoming resou8 and application of resources, in¢luding ts in¢ome and expen¢JIlu. for that period. In preparing these finanrAal statements, the Trustees a required to: S818ct suitable accounting poliGes and then apply Ihem consistenlly,. observe the mÈihod$ and prinryples ofthÈ ChaTitses SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., $18le whether applicable UK AcuxJnb"ng Stsndards IFRS 102) hav& been foll¢)wod, S'¢¢t lo any material departures disdosed and explained in the financAal 5tatements', prepare the financial statem&nt$ on the going concem basis unless it is inappropriate lo prèsum8 that the Charity wll continue in business. The Trustees are r@snb for keeping a*uat8 accnuntirKJ records that are sufficAent to show and explain the Charity's transactions and disclose with aSonable accAJraw at any lime the financial position of the Charity and enable them lo ensure that the finarrial statements mplY wth the Charits"es Act 2011, the Charity (Accounts and Report8) Regulatsons 2008 the prow5ions of the Ttust de¢d_ They are als) wponsible for 83f8guarding the ass8ts of the Chanty and h8nca for takn'ng reasonable steps for the prevention and detection of fraud and other irregularits'es. Page 3
THE REGATTA FOUNDATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 DisGlosuro of Information to auditor Each of the persons who are Trustees at the lime when this Trustees. report is approved has confirrned that". so lar as that Trustee is aware. Iheie 1$ no relevant audit information ef which the charitys auditor is unaware. and that Trustee has taken all the steps that ought to have been taken 35 a Trustee in order lo be aware of any relevant audit information and to establish that the charity's auditor is aware of that infomiation. Auditor The auditor, Crowe U.K. LLP. has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. Approved by order of the member8 of the board of Trustees and signed tsn their behalf by.. ac Dale.. IIthMay2023 Page 4
THE REGAA FOUNDATION INDEPENDE1 AUDITOR'S REPORT TO THE MEM8ERS OF THE REGATTA FOUNDATION Opinion Wo have audited the flnan¢i81 st8tèm8nts of The Regatta Foundalion (the 'charityl for the y&8r @ndad 5 April 2022 which compTise the Statement of finanaal a1vIties, thè Balanc8 sheet, the Slalemenl of ¢8sh flows and the rel3lèd notes, including a surnmary of significant accounting Policies. The financial repong framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5, induding Financial Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Rapublic of Ireland, Iuniltsd Kingdom Generally Accepted Actounting Pra¢b¢el. Th8 financial statements have been prepared bn affjyd3n with Acxounting and Reportlng by Charitie$ preparing th8ir aCcntS in adan vth the Finawal Reporbng Standards 8ppli¢ablo in the UK and Rapubli¢ of Ireland IFRS 1021 in prefence to thg Attounbng aThJ Reporb"ng by Chaiitiès.. Statement of Recommended Practice issued on 1 April 2005 which is r8ferred to in the exlanl rulationS but has teen wfjlhdrawn. This has been dono in order for the aOunts to provide a truo and fair view in acmrdance wth the Generally Actspled A¢counling Practi effective for reporting pwods b8ginning on or after 1 January 201 S. In our opinion the financial ststoments.. give a tru• 8nd fair view of the state of1he (*afiVs affairs as at 5 April 2022 and of its incoming resources and applicaknon of resourcés for th& year then ended., have been property prepared in accordance wilh uned Kingdom Generally Accepted ACCOUnng Prathce., and havè been prèpared in accordare tho rgquirements of the CharitiÈ$ Ad 2011. Basis for opinion We conducted our audit in a)rdarKe wrth Inlemation81 Standards on Auditing (UK} {ISAs IUKII and applicable law. Our rèsponsibililies under ih05e standards aro further described in the Avditorfs responsibilities for the audit of the finanaal statets secbon of our report. We are independent of thè charity in accordan with the ethical requirements that are rdÈvant to our audit of the financial ststements in the United Kingdom, induding the Financial Reportlng Counal's Ethical Standard, and we have fvlfilled our other ethical r&sponsibililies in accordance wth these reqlbirements. We believe that the audit ewderKe we have obtained 15 suffiuènt and appropriate lo provide a basis fDr our opinion. Concluslons relating to going ¢on¢orn In audiknrKJ the financAal statements, we havè ndded Ihat the Trustees. use of the going Concern basis of accounting in the preparation of the finanaa statements is appropriate. Based Dn the work we have perfomie(I: we have not identified any material un¢rtaInties relating lo evènts or condition5 that, irtdividually or collectivety. may cast significant doubl on the charitys ability lo wntinue as a going Onrn for a pèriod of at least h¥elve months trom when the finarKial statements aTe authorised for issue. Our spOnSIbl1rtjeS and the responsibilitj'es of the Trustee8 respect to going concem are dèscrib8d in the relevant sections ol this Port. Page 5
THE REGATTA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGATTA FOUNDATION (COMTINUED othér Inforn)atlon The other infomiation comprises the inforniation induded in Ihe Annual report other than the fin8n¢ial statgmenls and our Auditorfs report Ihereon. The Trustee5 are resp3nble for the othèr inform81ion contained wrthin the Annual report. Our Opini on thè financi ststements does not Cover the other information and, èxcept lo the extent otherwisè Èxplicitly stated in our report wè do not expross any forni of assurance condusion thereon. Our reswnsibilty is to read the other infomiation and. in doing so. o)nsider whetheT the other information is materially inconsistent with the finarrial statements or our kn¢)wiedge obtained in the course ol the audit, or olheTwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determirbe Wheth Ihi$ gNes rise lo a material mi5stslemenl in the financial statements themselves. If. based on the work we have performed, we ndUde that there is a material misstatement of this tsthèr infonnation. w8 are required to report that fact. We have nothing lo In this regard. Maiter8 on whlch we are required to rnport by exception We have nothing lo report in re8pect of the folkmng matters vthere the Charillos {ACunt$ and Reports) Regulations 2008 requi$ us to roport to you if, in our OnIOn.. the information givèn in the Trust, r8pcMt 18 inConstant in any material respect with the finan(i81 5tatements,' or 5ufftignl accounting records have not been kept.. or the financial stslemenls are not in agreement the acox)untiny records and turns., or W8 have not reiVed all the infomwtion and explanthns we require for our audiL Responsibiliti88 of Iru8tee8 As explained fully in the Tnjstees, spOnsIbl1.S ststement, the Trustees are responsie lor the preparation of the financial statements vthich give a true and fair wew. and for such ir4temal w)Irol as th8 Trustees detemiine is necessary to enable the preparation of financyal 5tstemen15 that are fr¢¢ from material misstatement whether due Its fraud or error. In preparing the fjnancial Statements. the Trustees are responsible for assessing the charivs ability lo continue as a going concem. disclosing, as aPplble, matters rglaled to going COnM and using the goin9 CCbn¢em b8si8 of accounting unless the Tnjstees erther intend lo liquthte the tharity or to ae operations. or have no realistic ayternative bul to do so. Page 6
THE REGArrA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGATTA FOUNOATION (CONTINIJEDI Auditor's rnsponsllAlities for thfr audlt of tho flnan¢lal $latgments We have been apwK)inted as auditor under se70n 144 of the Charities Act 2011 and report in accordanr% wtth the Act and relevant regulation5 made or hawng effect thereunder. Our objectivès are to obtain reaBOT7able assurance about whether the fin8n¢ial 8tat•ments as a whole arè free from material rnisstalemwrt, whelhar due to fraud or error. and to issue an Auditorf5 report that include5 our opinion. Reasonable 8ssurance is a high levd of 85suran¢e. bui is not a guarantee that an audit conducted in accordan with ISAS (UK) will aayS delect a m8terial misstatement when il exists. Misslalemenls can arise from fraud or error and are (xJnslde material if, individuaity or in the aggre9ak, they could reasonably expected lo inlluence the economic decisions of users tsken on the basis ofthese financial 8lalements. Irregularit'es, indudlrtg fraud, ar8 instances of non-compliance wtth laws and regulation8. We dtrsign proceduffts in line with our responsibilities, outlined above, to ¢Jete¢l material misslatemenls in r8SP8Ct of irregularrfues, Including frau¢J. The extent to whith our proeeduras are capable of detectiny irffjguLarities, induding fraud 1$ d&tail8d below.. We obtained an undèrstanding of the legal and regulatory frameworks wthin which the charty operates, focusing on those laws and regulation5 that have a direct effect on the detemiination of material amounts and disclosures in the financial stalèments. The laws and regulations we nSIdered in this context were the Charities Act 2011 together with the Chariti"e$ SORP IFRS 1021. We assessed the requiréd complianE& wlh these laws and regulations as part of our audit [CedureS on the related fin8n¢ial statement items. In addition, we c4)n$klÈrèd provisions of other laws and regulations that do not have a direct effect gn the financal stslements but Complian with whir) mwht be fundamental to the charrty'g ability to opèrate or lo avoid a material penalty_ Wè also (x)ndered the opportunithes afKI incenl'ves that may èxistwithin the charity fw fraud. The key laws and latiOnS we considèrèd in this context were General Data Proleth"C•n Regulation: and hearth and satety legislation. Auditing standards limit the required 8udit procedures to identify non-complian these18w$ and regulations lo enquire of the Trustees and other management and inspeetK)n of regulatory and legal correspondence, il any, Wè idèntified the 9alest risk of material impa( on the finanual statements from irregularities, including fraud. to be the override of Gontrols by management. Our audit procedure5 IL) reswjnd to th&s& risks includ&d enquiries of management and the Btsard about their own identffication and assessment of the risks of irregularities, saTllple testing on the posting of joumals, revlewirtg actounting estim¢s for biase5. and reading minutes ol meetings of those d)arged with g0veman. I11ng to the inherent limitstions of an audit, there is an unavtydable risk that we may not have detected some Matea5 misstslements in the financ4al statements, even Ihough we have properly planned and performed our audit acrdn with auditing standards_ For example. the fvrther removed non-complian with laws and règulath)ns (irregularities) 15 from the events and tran5action8 flÈtlÉd in the financial stalemenl8, the less likely the inherently limiiÈd proc8dures required by audng standards would identify it. In addits"on, as wfch any audit, there remained a higher risk of non-delecb.on of irregularthes. as these may involve collusion, forgery, intentional omi53i0ns. miwepresentations, or the override of intemal controls. Vve are not responsible for preventing noncompliance and canrw)t be exed to detect non-comFAianc with all law$ and regulatio)ns. A furthèr desuipt'on of c*Jr respon8ily"liti"¢s for the audit of the financ4¥1 statèments is lo¢xted on the Financ4al Reporting Council's web%te at www.froo .uklauditor5res nsibilthes. This de5cripbon fom part of our Auditorfs report. Page 7
THE REGAA FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REGATTA FOUNDATION {CONTINUEDI Use of our rnport This report is made selY lo the chariws thJstee$, 8$ 8 body, in accordan wlh Part 4 of the Charities (Accounts and Reports) Regu18tion$ 2008. Our audit work has been undertaken so that wè might state to the tharity's trLJStèès those matters we are required lo stale to 1hem in an Audito¢s report and for no other purpose. To the fullest extent p8miitted by law. we do not accert. or assume SPOnSibl11ty to anyone other than the charity and its trustee5, as a body, for our audit work, for this rèport. orfor the opinions we have formed. UK LLF Crowg U.K. LLP Slalulory Auditor 3rd floor The Lexicon Mount Street Manchester M2 5NT Date.. 16th May 2023 Crowe U.K LLP are eligible to act as auditors in terts of section 1212 of tho Companies Act 2006. Page 8
THE REGATTA FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 Unrestrlcted fvn(ts 2022 Total funds 2022 Tot81 funds 2021 Income from: Donations and legaaes 1.000.OS7 1.000,057 1.358.011 Tot81 Ineomo 1,000,067 1,000,057 1,356,017 Expgndlture on.. Charitable 8ctiwb.es 553,722 553,722 3S9,411 Total expenditure S53,722 SS3,722 369,417 Net movament In funds 446.335 446,335 986, 600 Roconclllatlon of funds: Total ndS brought forward Net movgment in funds 990.283 446,33S 990,283 446.33S 3,683 986,600 Total funds carrigd foNMrd 1,438,618 1.436,618 990,283 The Statement of finanoal activthes indLKle$ all 9ains and losses recognised in the year. The not¢s csn pag¢s 11 to 17 forni part oflhese financial 8t*mÈnts. Pagè 9
THE REGATTA FOUNDATION BALANCE SHEET AS AT S APRIL 2022 2022 2027 Nots Curr¥nt a$s&ts Cash al bank and in hand 1,446,418 995, 115 1,446,418 995. 7 15 Crèditors.. amounts falling due within one year 19,8001 (4,832) Not curmnt assats 1,436,618 990,283 Total asset5 les$ ¢urr•nt Ilabilitios 1,436,618 990,283 Net assets excluding pension ass&t 1,436,618 990,283 Total nèt assets 1,436,618 990,283 Charity fund$ Restricted funds unstrICted funds 10 1,436,618 990,283 Total funds 1.436.618 990,283 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. ack Ichair of Trustees) I Ith May 2023 Date.. The notes on pages 11 to 17 form part of these financial slalements. Page 10
THE REGATTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Accounllng policies 1.1 Basis of proparallon of financlal statements The financial 518ternents have been prep8rpd in ac(x)rdancÈ wth the Charilies SORP IFRS 1021- A¢untIng and R8porting by Charilies.. Statement ot RecMMended Practice applicable to charitie8 preparing their accounts in accordance wth the Finanaal Reporting Standard applicable in thé UK and Republic of Ireland (FRS 1021 leffectNe 1 January 2D191, the Finanual ReplIng Standard pplicable in the UK arKI Republic of Ireland (FRS 1021 and the Charities Act 2011. The Regatta Fc4Jndation meets the definitn of a public benefit enlty under FFiS 102. Assets and liabilities are illilialty recognised at historical 81 or transaction value unlèss otherwise slated in the relevanl a¢¢ounting policy. 1.2 Incomp All income is recognised On the Charity has entitlement to the incomè, il 13 probable that the income will be received and the amunt of incJJme re1vable can be moasured lIablY. Oth8r incom8 is racognised in the riod in whmth it is recewable and to the extent the good5 have been provided or on cometion of Ihe se. 1.3 Expgndituyg ExFendrfcure is recognised onts the 1$ a lega1 or cDn$tru¢tive obligaUon lo transfer economic benefyc to 8 third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured re1VaY. Expenditurè is classifièd by 8etivity. The costs of each activty are made up of the total of direct costs and shared costs, including support C081s involved in undertakn.ng eath ivty. Dir¢& attn"butable to a single activity are allocated directly to that actiwty. Shared u)sts which contribuie to more than one activity and 5UPPOrt costs which are not attributable lo a single acb.vty arè apportionèd ben thosè activities on a basi$ COnSl8lenl with the use of resources. CeTrtral staff ¢05t$ are allocated on the basis of time spent, and dgpreGiatiun charges allo¢at¢d on the porbon ofthe asset's use. Expendiluft on charitable acAivrtie8 is incurned on diredy un¢Jortakin9 the activities which fijrther the Charitys obj&tiveg. as well 89 any assooatèd support (X)sts. Grants payable are tharged in the year when the offer is made &x¢opt in those cases whefe the offer is ¢ondib'on81, such grants being 09n1$¢d as exponditure vthen the conditions attathing are fulfilleil. Grants offered suÈct to conditions which have not been met at the year end are noted as a mmthent: but not accrued as experKSrbJre. All expenditure is indusive of Irree4)ver¥ble VAT. 1.4 Cash at bank and in hand Cash al bank and in hand indude8 cash and short-twm highty liquid investments wtth a short maturity of three monlhs or18ss from Ihè date of acquisibon or opening ol the deposit or similar account. Page11
THE REGATTA FOUNDATION NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Ac¢ounllng pollcles (contlnuedl 1.5 Liab511tles and provlsions LiatrAlilies are r•cognisèd when there is an obligation al Ihe Balance 5he¢t date as a result of a p881 evenL it is probable that a transfer of e¢onomic benefft Mll be rgquirod in settlement, and tlk amount of the selllement can be estimated reiiabty. Liabilit'ès ar8 r8cognised at the amount Ihat the CharTty antiiapates It will pay to settle the debt or the amount Ic has recVed as advancÈd paymw)ts for thg gcxxls or Servi it musl provide. Provisions are measUrj atth? best esbmate of the anUnts required lo settlè th8 obligation. Wher the effect of the time value of money is material, the provlsion is based on the present V8luo of thosg amounts, discounted al the w1•X di8¢0unl rat? that reflects the risks specific to the li8bilty. The unwinding of the discount is re¢crfJnised in the Statement of financAal ac*v((ies as a finance cost. 1.6 Financlal In8truments The Charity onty has financial assets and finanaal liatslibes of a kind that qualify as basic ftnantyal instruments. Basic ffinancial instruments are inth81ty recognised at transaction value and $ubsequenUy measured at their 5etllemenl value with u exception of bank loans which are Subsequently mea8ured al amwbsed ¢ost using the effective interest method. 1.7 Fund ac¢ounllng General funds are unrestricted fvnds which are available for use at the discretion of the Trusletrs in rtheran of the general objedives of the Charity and which have not been designated fgr other purposes. 1.8 Crltlcal accounting e51imates and area$ t>f Judgmènt Estimates and judgments are ¢onb'nually evaluated and are based on hi81orical 8xperience and other faciors, induding expecialions of future events that are believ¢d lo be reasonable under the circumstances. Critical accounb.ng e$b"mate$ and assumptions.. Thp tharity has not me any estimates and assumptions ctrf)ceming th8 future. Page 12
THE REGAThA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Income from don•tlon$ and lègacl Unrestrlcted fund5 2022 Total fund8 2022 Donations 1,000,057 1,000,057 UnRslrictgd funds 2021 rolal funds 2021 t)onations 1,355,Qll 1,356,011 Analysls of grants Grants to Instltutlons 2022 Tolal fund5 2022 Grants. Donation$ 547,898 647,898 Grants to Insbtthions 2021 Total funds 2021 Grants, Donations 365,4f I 365,411 Page 13
THE REGAThA FOUNDAnON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Analysis of grants Icontlnued) Tho Charity has made the foll0vn9 grants to institutions during thè year. 2022 2021 Name of institution Queen8 Green Canopy Bamet Youth Zonelunitas Folliculai Lymphoma Fwndation Centre for Sooal Justice 100.000 75,000 50,000 20,000 250 100,000 64.500 25,000 5Q,000 10,CQO loo,L* 90,CI Royal S¢¢lety of Blind Children Nawlif& Alder Hey Children's Charrty Onside Youth Zonè 50,000 434.750 300,000 other grants to institutions 113,148 65,411 $47.898 365,47 1 Analysis of oxpendlturn by 4¢tivitie5 Grnnt funding of activities 2022 Support costs 2022 Totsl funds 2022 Direct ¢08ts 547,898 5.824 553,722 GRnl funding ol 8cltviti&s 2021 Support costs 2021 Total funcls 2021 Dirèct costs 365,41t 4,000 369,411 Page 14
THE REGAA FOUNDAnoN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Audito18 remunoravon 2022 2021 Fees payable lo the Charitys auditor for the audTt of the ChariVs annual aLuunts 4,250 4,OQO Staff cost During the year, Iht Tmst had incur8d £Nil12021".Nil) staff costs. The average number of staff during the yèarwas Nil (2021.'Nill. Trusts88' rUneratiOn and gxp•nses During the year. no TNstees received any remuneration or other beneffts (2021- £NILI. During the year ended 5 April 2022. Tw8tee eXn39$ have been incurred (2021- £NIL). Cred5tors: Amounts falling dug wilhin one year 2022 2021 Accruals and deferred income 9,800 4,832 Financial instruments 2022 2021 Finan¢lal assets Financial assets measud at amotkn.sed (x)st 1.446,41B 995, 115 2022 2021 Flnanclal liabilities Finanryal assèts m•asured at amortised cost g,UOO 4,832 Finanal assets measured al amorb5ed 81 Mse of eash at b8nk. Financial liabilities measured at amortised cost comprise a¢uuals. Page15
THE REGATTA FOUNDATIOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 10. Statem&nt of funds statsmènt of furKls- cUrnt year 8alan¢¢ at 6 Aprll 2021 Bal8nca at S Aptll 2022 Income Expenditu Unr•strfctsd fijnds General Fundg 990.283 1.1)00,05T IS53.722) 1.436,61B Statement of fund8 - prlor year 88l&n(¥ 8t 6 Apnl 2020 Balan¢e al Inwme EXp8nClitu S Apnl 2021 Unrestrlctgd funds Genwal Ftjndg 3,683 7,356,011 (369,411) 990,283 Summary offund Summary of funds - current year Balance at 6 Aprfl 2021 Balancè 8t 5 April 2022 InGome Expendlture Gener81 funds 990,283 1,000,057 (553,7221 1.436.618 Summary of funds . PTiOT year Balance al 6 Apnl 2020 Ba18nc8 al InLx>me Expenclitum 5 April 2021 Gener81 ftjnds 3,683 1,356,011 (369,411) 990,283 Page 16
THE REGATTA FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEDSAPRIL 2022 12. Analy$l$ of net assets botween funds Analysis of net assets b•twggn lunds . currnntyBar Unr•strict8d funds 2022 Total funds 2022 Cuent assets 1.44S,418 19,8001 1,446,418 19,8001 CdItorS du8 within one year Total 1,436,618 1,436,618 Analysi$ of net asBots botrwggn funds- prior year UnStrIct8 funds 2021 Tot81 funds 2021 Current a8sels 995, 115 (4,832) Creditors due wlhin one year [4,832) Total 990,283 990,283 13. Relatsd party transaction¥ During the year, grants of £75.000 {2021: £50.000> We awarded to Bamet Youth Zone, 8 Charity for which Mr K Black is a tNstee. Page 17