Registered number.. 5685998 Charity number- 1114795 ANNIE LENNOX FOUNDATION IA company limited by guarantse) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
ANNIE LENNOX FOUNDATION (A company Ilmlted by guarnrtee} CONTEKrs Pe Reference and administratlve ijetalls of the tharity. its trustees and advisers Trustees. report Trustees, sponsIbIlItIeS statement Independent examiner's report Statement of flnaneial artivÉties Balance sheet Notes to the finanoal statements 10-14
ANNIE LENNOX FOUNDATION IA company Ilmlted by guarant8e) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2021 Trustee5 A Stfinson R Harrts T Goldsmid Pater50n Company registered number 5685998 Charity registered number 1114795 Registered offlce 4 Jupiter Court 10-12 Tolworth Rise South Surbiton Surrey r5 9NN Accountants SRLV Audit Limite(I Chartered Accountants Elsley Court 20 - 22 Great Tltthfiekl Street London WIW 88E Bankers Bardays Bank I Stanhope Gate London WIK IAF P•3e 1
ANNIE LENNOX FOUNDATION (A company limited by guarnnteo) TrUSTEES' REPORT FOR ThE YEAR ENDED 31 JANUARY 2021 The trustees present their annual report together with the financial statements for the year l February 2020 to 31 January 2021. The annual port serves the purposes of both a tnJ5tees' report and a dlrectors, report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory reqU1Ments, the requirements of the charitable company's governing document and the provisions of the Ststement of Recommended Practice ISORP) appllcable to charltles preparing their accounts In accordance with the Fjnanclal Reporting Standard applicable In the UK an(i RepLbblic of Ireland (FRS102} leffeth.ve l January 2019}. Since the company quallfies as small under section 382 of the Companles Art 2006, the strntegic report required of medium and large companies under the Companies Act 2006 {Strateglc Report and D1CtOrS. Report) Regulations 2013 is not required. Objectiv•s and activiti . POUCIES AND OBJEcnvES The charity was established for the purpose of holding the tnjst fund and Its Income upon trust to apply It nywhere in the world for all Purposes that are chantable under the laws of England and Wales from me to tlme. The trustees have paid d¥Je regard to the Chartty Commission guidance surrounding publlc beneflt In declding what activities the char6ty shoLEld undertake. Achievements and rforn¢e a. REVIEW OF AcrIvrriES Durlng the financial year, the followlng grants were made: Open Arms Malawi £15.000 - a charity providing much-needed food, love, and meillcal Ca to orphaned and abandoned babies in Malawi until they can return home to their families. Nonceba Centre £20,000 - a charity providing a school aftercare programme In Cape Town, South Africa. Peninsula Sthool £lO.000 a charity aiming to ¢ombat the pValanCe of hunger in chSldren attendlng Schools and other educational institutions, through school feeding and other developmental intitiatives. Marys Meals E30,000 a charity setting up school feeding projects In some of the world'5 poorest tomrnunities, where poverty and hunger pvent children from gaining an educatlon. Waverley Care £30,000 - a charity focusing on supporting vulnerable women and their thildn who are living with or affected by HIV and or hepatitis C, diross Scotland. Ladles of Love £29,950 - a charity providing meals to people In need In Cape Town communities. P¥Je 2
ANNIE LENNOX FOUNDATION (A company limited by guaranto01 TRUSTEES. REPORT IcoKllNUEDI FOR THE YEAR ENDED 31 JANUARY 2021 Flnan¢lal review . GOING CONCERN After maklng appropriate enquiries. the trustees have a reasonable expectatlon that the company has adequate resources to contlnue in operational existence for the foreseeable fijtyjre. For this reason, they contlnue to adopt the golng concem basis in preparing the finanaal statements. Further details regarding the adoptlon of the going concern basis can be found in the Accounting Poliue5. b. RESERVES POLICY At the year end. the Annie Lennox Foundation held serveS of £254k (2020 - £349k), all of vrfhi¢h were unrestricted at the year end. The trustees alm to malntaln reserves at a level whlch would cover any future commltments or expenditure. The trustee5 consider that the amount of reserves wlll dlctate future tlonations and wlll conslst of donatlons received by the charfty which are yet to be donated to individual charities and causes. c. FINANCLAL RISK MANAGEME OBJECTtVES AND POLICIES Annie Lennox Foundation had net incoming resources of £40k for the year ended 31 January 2021 (2020 £376kl. d. PRINCIPAL RISKS AND UNCERTAIPfflES The trustees have a formal rbk management process to assess the business rlsks and Implement rlsk management strategles. This Invoe5 identifyin9 the types of risk5 the charity faces, prioritising them In terms of potential impact and the likelihood of occurrence. and identifying means of mitigating the risks. As part of this process, the trustees are pleased to report that the chadty's Internal financial controls, In particular, comply in all relevant areas wlth the guidelines iued by the Charity Commission. Strture1 9overnance and O9¢Ment . CONsrmJrIoN The charity wa5 origlnally an unlncorporated trust. constitute(l under a trust deed dated 16 November 2005 and is a reglstered charity, number 1114795. The trust was incorporated on 24 January 2006 and ¢ommenced trading on that datè. b. METHOD OF AppoIKfMENT OR ELEcfEoN OF TRUSTEES All trustees were appointed upon constitution of the trust deed, apart frorn T Goldsrnhd Pater50n who was appointed on 30 November 2006 and M J Besser who was appointe(l on 3 February 2016. The trustees may appoint new trustees from outside the ojrrent and retiring boanl of trustees. c. ORGANISATIONAL sfRUaURE AND DECISION MAKING At the annual trustees, meeting, the tnjstees agree the board strategy and areas of athvity for the trust, Includlng consiijeration of grant making. investment. reserves ond risk management policles and performance. The day to day admlnlstrats.on of donatn5 Is delegated to the adrnlnistrator.
ANNIE LENNOX FOUNDATION (A company Ilmlted by guarantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JANUARY 2021 Structurei govornance and management {contlnued) d. POLICIES ADOPTED FOR THE INDucfIoN AND TRAINING OF TRusfEES Trustees are encourageij to attend appropdate extemal trdining events where these wéll facllltate the Undertan9 of their role. Speofic trainlng Is conducted as part of a board meetlng where approprlats. Plans for future p¢riods The funding ot the charfty wlll contlnue to be Viewed. The trustees expect to make further donations to organlsations with the alm af improving the lives of indNiduals. Trustees The trustees who served durfng the year were as follows: A Stinson R Harris T Goldsmld Paterson In preparing thls report, the trustees have taken advantage of the small companles exemptfions provlded by section 415A of the Companies Act 2006. ZOLI This report was approved by the trustees on and signed on thelr behalf by: R H•tri$ Trustee Page 4
ANNIE LENNOX FOUNDATION (A eompany limited by guarantsg) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 JANUARY 2021 The trustees (who a also the directors of Annie Lennox Foundation for the purposes of company law) are responsible for preparlng the trustees, port and the finanoal statements in accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Prattl). Company lavrf requires the trustees to prepare flnandal statements for each financlal year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a ttwe and fair view of the state of affairs of the company and of its incoming resourtès and applicatTron of resources, including its Income and expenditure. for that period. In preparing these financial statements, the trustees are qUIred to.. select suitable accounting policies and then apply them consistently: observe the methods and prlncoples of the Charities SORP (FRS 102); make Judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards (FRS 102} have been followed, subJect to any material departures disclosed and explained In the finanaal statements: Ppare the financial statements on the going ¢oncem basis unle5$ it is inappropriate to presume that the company will continue in busines5. The trustee5 are responslble ftir keeping adequate accountlng records that are sufficlent to show and explaln the company's transartions and disc105e with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hen for taklng reasonable steps for the prevention and deteLtion of fraud and other irregularities. Page 5
ANNIE LENNOX FOUNDATION IA company limlted by guarantee) INDEPENDEKf EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANNIE LENNOX FOUNDATION (the 'charity') I report to the d)arity trustees on my examination of the accounts of the company for the year ended 31 January 2021. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity (and its dlrectors for the purpose5 of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 2006 ('the 2006 ACV). Having satlsfied myself that the accounts of the tharity are not requlred to be audited under Part 16 of the 2006 Act anij are eligibte for independent examination, I report In respect of my examination of the chaflty's accounts carrled out under section 145 of the Charities Act 2011 ('the 2011 Att.). Ln carrying out my examinatlon I have followed the Diortions given by the Charlty Commission under section 145{5)(bl of the 2011 Act. INDEPENDENT EXAMINER'S sfATEME I have completed my examinatfion. I confim that no matters have come to my attention in connectlon wtth the examlnatlon glvlng me cause to belleve: accounting records were not kept in respett of the charity as requlred by sertlon 386 of the 2006 Art. or the accounts do not accord with those records: or the a¢counts do not comply wlth the accounting requirements of Sett)n 396 of the 2006 Act other than any requlrement that the accounts give a 'true and fai vlew whlch Is not a matter considered a5 part of an independent examinatlon: or the accounts have not been prepared in accor(lance with the methods and prfnclples of the Statement of Recommended Pracknce for accounting and reporting by charities lappllcable to chartties preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021]. I have no concerns and have come across no other matter5 in connection wtth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 6
ANNIE LENNOX FOUNDATION IA company Ilmltsd by guar•ntw) INDEPENDENT EXAMINER'S REPORT ICONTINUEDI FOR THE YEAR ENDED 31 JANUARY 2021 USE OF OUR REPORT Thls pfjrt is made solely to the charity's trustees, as a body. in accordance with Part 4 of the Charfitfies (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stste to the charity's trustee5 those matters l am requlred to state trg them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responslbillty to anyone other than the charlty and the charity's trustees as a body, for my work or for thls report. cjcd JkLk Lts,¥LLI Slgned.. Dated: 8 June 2021 Richard Gilbert for and on behalf of SRLV Audit Limited Chartered Accountsnts Elsley Court 20-22 Great Titchfleld Street London WIW 8BE Pag8 7
ANNIE LENNOX FOUNDATION IA company Ilmlted by guarantsel STATEMENT OF FINANCIAL ACTMTIES {INCORPORAnNG INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JANUARY 2021 Unrestricted fvnds 2021 Total funds 2021 Total funds 2020 Note Income from: Donations and legacies Investments 39.982 39,982 404 375,764 62 Total In¢ome Expenditure on: Charitable activities arKI support costs 40,386 40,386 375,826 135,051 135,051 32,361 Total expenditure 135,051 135,051 32,361 Net movement in funds Reconciliatlon of funds: Total funds brought forward Net movement in hjnds (94,665) {94,665) 343,465 349,096 {94,665) 349,096 {94,665) 5,631 343,465 Totsl fund$ carried forward 254.431 254,431 349,096 The statement of financlal acttvltles IndLEdes all gains and losses recogn1 In the year. The note5 on pages 10 to 14 fomi part of these flnancfial statements. All income and expenditu derives from continuing activities. Page 8
ANNIE LENNOX FOUNDATK)N IA company lirnited by guarantsel REGISTERED NUMBER: 5685998 BALANCE SHEET AS AT 31 JANUARY 2ty21 2021 2020 Current assets Cash at bank and In hand 254N31 349.096 254,431 349.096 Net current assets 254.431 349,096 Total net assets 254,431 349,096 Charlty funds Unrestrirted funds 254,431 349.096 Total funds 254.431 349,096 The company was entitled to exemption from audit under section 477 of the Companles Art 2006. The members have not required the company to obtsin an audlt for the year In queSon in accordtnce with section 476 of Companies Art 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act wlth respect to accountlng records and preparation of finandal statements. The financlal statements have been prepared In accordance with the provisions applicable to entltles subject to the small companles regime. The financial statements were approved and authorised for Issue by the trustees on thelr behalf by: and slgned o R Harris Trustee The notes on pages 10 to 14 fomi part of these financial statements. Page 9
ANNIE LENNOX FOUNDATION IA company Ilmltgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 ACCOUNTING POUCIES 1.1 Basls of preparation of financial statements The financial ststements have been prepared in accordan with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prePang their accounts in accordance wfch the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectlve l January 2019). the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companles Act 2006. Annie Lennox Foundation meets the definitton of a public benefft entlty under FRS 102, Assets and liabilities are initially recognised at historfical cost or transactlon value unless otherwlse stated in the relevant accounting policy. 1.2 Company ststus The ¢harity 15 a company limited by guarantee. The members of the company are the trustees named on page l. In the event of the charfity being wound up. the Ilablllty In SpeCt of the guarantee is limited to £nil per member of the charity. The company Is registered In England and Wale5 and the address of its registered offlce Is 4 Jupiter Court, 10-12 Tolworth Rise South. Surbiton, Surreyi England, 9NN. 1.3 Golng Conrn There are no material untrrtainties about the charity's ability to conttnue as a going concern. 1.4 Incom• All income Is recognised once the charity has entiuement to the income, it is probable that the Income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on whith either- the charity is aware that probate has been granted. the estate has been finalised and notification has been made by the executor(s) to the trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has b&n notifietd of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. then the legacy Is treated as a contlngent asset and dlsdosed If matedal. Donated SeIceS or fadlltles are recognlsed when the chaNty has control over the Item, any conditions associated with the donated ttem have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliabfy. On receipt, donated professional services and donated facillties are recognised on the basis of the value of the glft to the charfity whlch is the amount the charity would have been willing to pay to obtain services or facilities of equivalent econom¢ benefit on the open market; a corresponding amount Is then recognlsed In expendlture In the period of reipt. Income tax recoverable in relation to donations ceIved under Gift Aid or deeds of covenant is recogni5ed at the time of the dortiOn. Income tax recoverable In relatlon to Investment Income is recognised at the time the investment income is receivable. Page 10
ANNIE LENNOX FOUNDATION {A company limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 ACCOUNTING POLICIES (contlnued) 1.5 Expendlturn Expendlture is cOgnised Or there is a legal or constructlve obllgatlon to transfer economlc benefit to a third party, it is probable that a transfer of economic benefits will be requlred In setdement and the amount of the obligation can be measured reliably. Expenditure Is classlfled by activity. The costs of each actlvlty are made up of the total of dlrect costs and shared costs, including support costs involved In undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs whid) contribute to more than one attivity and support costs whSch a not attributable to a single activity are apportioned between those activities on a basis con5iStent with the use of resource5. Central staff costs are allocated on the basis of time spent. and depreciation tharye5 allocated on the portion of the asset's use. Support costs are those costs incurred d1CtlY in support of expeftdire on the objects of the charity. Charitable activlties and govemance costs a Costs Inajrred on the charity's educational operations. including support costs and costs relating to the govemance of the chaty apportioned to charitable activities. Grants payable are charged in the year when the offer is made except In those cases where the offer Is conditional, such grants being recognised as expenditure when the condltlons attachlng are fulfilled. Grants offered subjert to conditions which have not been met at the year end are noted as a commitmenL but not accrued as expenditure. 1.6 C•$h at bJnk Jnd in hand Cash at bank and in hand include5 cash and short-term highly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the deposlt or slmilar account. 1.7 Interest recelvable Interest on fvnds held on deposit ts included when receivable and the amount can be measured rellably by the charfty: this Is rtornially upon notification of the interest paid or payable by the bank. 1.8 Fund •¢¢ounting General fvnds are unrestrlcted ftjnds whlth a avallable for use at the dlscretlon of the trustees In furthera of the general objectlves of the Company and whlch have not been designated for other purposes. VOLUNTARY INCOME Unrestrirted funds 2021 Total funds 2021 Total funds 2020 Donatlons 39,982 39,982 375.764 Pe 11
ANNIE LENNOX FOUNDATION (A ¢¢)rnpany limiled by guararrtee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 INVESTMENT INCONE Vnre5trlcted fuTrds 2021 Total funds 2021 Total funds 2020 Deposit account Interest 404 404 62 GRANTS TO CHARITABLE INSTrnITIONS Grants to Institutions 2011 Total funds 2021 Total fijnds 2020 Grants and donations 134,950 134,950 32,235 SUPPORT COSTS Support cost 2021 Total funds 2021 Total funds 2020 Sundry Bank and slmllar charges 13 13 13 113 ioi loi 126 During the year ended 31 January 2021. the charity did not incur any govemance costs {2020 £NILI, The Independent examlnatfion fee for the year of £1,250 (2020 - £1,250) has been borne by La Lennoxa Limited. ANALYSIS OF RESOURCES EXPEhlDED BY ACTivfTIES Grant funding of artivities 2021 Support Total fund$ 2021 Totjl funds 2020 2021 Donations 134,950 ioi 135.051 32,361 Page 12
ANNIE LENNOX FOUNDATION IA company Ilmfted by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 ANALYSIS OF RESOURCES EXPENDED BY AcnvITIES (Continued) CHARrrABLE ArnVrnES 2021 2020 Resurgen Trust Nonceba Centre Beatson Cancer chartty Vanguard Open Amis Malawi Peninsula School Marys Meals Wavedey Care Ladles of Love 10,000 20,000 1,000 1,235 20,000 15.000 10.000 30.000 30.000 29.950 134,950 32,235 Durlng the year. all grants and donations were paid to instituttons (2020 - all paid to institution5). EMPLOYEES The charfty has no employees other than the trustees. who dld not recelve any remuneratlon (2020 - £NILI. NET {RESOURCES EXPENDED} / INCOMING RESOURCES Dun9 the year, no trustees received any remuneration. benefits in kind or reimbursement of expenses (2020 - £NIL). 10. TAXATION Annie Lennox Foundation is consldered to pass the tests set out In Paragraph I Schedule 6 Flnance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital galns received within categories covered by Chapter 3 part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gain5 Att 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax charges have ariserb in the charitable company durlng the period. Page 13
ANNIE LENNOX FOUNDATION (A tompany limited by guarantO9) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 11. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR B•lance at l February 2020 Balance at 31 January 2021 Income Expendlture General funds 349,096 40,386 (135,051) 254.431 STATEMENT OF FUNDS- PRIOR YEAR Balance at l Febnjary 2019 Balance at 31 January 2020 Income Expenditure General funds 5.631 375.826 (32,361) 349,096 12. Related party transactlons During the year, the charity received aggregated donations without conditlons of ENEL {2020 - £280k} from Its trustees. Page 14