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2020-12-31-accounts

Halcrow Foundation Annual report 2020 J/ 11 foundation crow Halcrow Foundation: Company registration number 05593409

Halcrow Foundation @HalcrowFNDN Halcrow Foundation

www.halcrowfoundation.org

CONTENTS

Statement from the chair of trustees............................. 5 Our approach – what we do and who we help.............. 6 Projects and partnerships.............................................. 12 2020 highlights............................................................... 15 Strategy – review and looking forward.......................... 20 Our funding..................................................................... 22 The board of trustees..................................................... 24 Reference and administrative details............................ 25 Statement of trustees’ responsibilities.......................... 26 Independent examiner’s report..................................... 29 Financial report.............................................................. 30

Cover image. A pupil finishes washing her hands at Chitukuko Community School in Zambia. The facilities, funded by Halcrow Foundation, are helping the school combat the spread of Covid-19.

4 Halcrow Foundation: Company registration number 05593409

“ The foundation is a legacy of the kindness and generosity of Halcrow employees

WELCOME TO THE HALCROW FOUNDATION

Our vision is a world where all people have the means to enjoy a decent quality of life, free from oppression and poverty. A place where everyone can access safe water, healthcare, education and opportunities to sustain themselves, while living a fulfilling life.

In 2020, the coronavirus pandemic caused significant challenges to many of the community projects that we support. However, by working in partnership with other charitable organisations, we’ve been able to continue providing financial resources to grassroots projects that make a real and lasting improvement to the lives of people suffering acute hardship.

The foundation is a legacy of the kindness and generosity of the employees of Halcrow which, for over 140 years, was one of the world’s leading engineering consultancies. Their response to the Asian tsunami on Boxing Day in 2004, and their clear desire to help those in need, was the spark behind the creation of the foundation.

Halcrow’s purpose was sustaining and improving the quality of people’s lives, and that lives on in the Halcrow Foundation. Since 2005, the foundation has spent nearly £2.5 million on projects in Asia, Africa, and the UK. Since the sale of Halcrow in 2011, the foundation has worked hard to redefine itself and reignite its funding programmes.

This report illustrates some of the great projects that the foundation has supported, how we approach that work and how we are looking to the future. By building more partnerships with like-minded people and organisations that share our values, we hope to bring lasting benefits to at least 4,000 people each year.

We have yet to see the long-term effects of the coronavirus pandemic on our investments and the nature of our projects and partnerships. We anticipate, however, that the foundation will do what we can to support local communities as part of the global recovery from the pandemic.

David Kerr

Chair, Halcrow Foundation

Halcrow Foundation: Company registration number 05593409 5

WHAT WE DO

Working in partnership with other charitable organisations, we provide financial resources to grassroots projects that make a tangible and lasting improvement to the lives of people suffering acute hardship.

Our efforts and resources are focused on where we can make a real difference. Our projects work towards providing support that enables and empowers people to transform their lives by removing constraints and opening up opportunities that were previously unreachable.

We focus our funding on projects that:

We do this in those communities where the ~~foundation has the support of local organisations~~ that are well placed to understand the needs of the people and deliver appropriate solutions.

WHO WE HELP

We work in the UK and selected regions in Africa and Asia, focusing on areas where need is most evident.

The foundation supports projects in regions where we have trusted contacts or delivery partners, or where our funding partners have a presence.

Since the creation of the charity, our work has included a huge range of projects, supporting people around the world. In more recent years, our focus has been increasingly on empowering lives and transforming communities in the three target regions.

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ASIA Supporting the Women’s Economic Empowerment programme in India and Pakistan.

UK Helping Swindon Domestic Abuse Support Service, see p16

AFRICA Building better futures with Baraka Community Partnerships in Zambia, see p13

Halcrow Foundation: Company registration number 05593409

7

ABOUT THE HALCROW FOUNDATION

OUR PURPOSE

Empowering lives, transforming communities

Our purpose is to bring transformative and sustainable improvement to the lives of people in need, nurturing resilient, prosperous communities. We are an agent for change, an enabler for good.

CARE: We care about people in need who are rooted in poverty and lack opportunity to change their lives.

EMPOWERMENT: We

work to enable people to help themselves, focusing on grassroots projects.

TRUST: We always deliver on our commitments.

EQUALITY: We believe in the right of all people to fair and equal treatment. We use transparent processes and only work with partners with similar values.

SUSTAINABILITY: We offer

more than short-term financial assistance to alleviate poverty, our projects enable beneficiaries to provide for themselves over the longer term.

8 Halcrow Foundation: Company registration number 05593409

Volunteer Peer Progression Programme supporting London’s homeless with Groundswell, see p19

OUR FORMAL OBJECTS

The foundation is a charitable company limited by guarantee incorporated in England and Wales on 14 October 2005 and registered as a charity on 9 August 2006.

The charitable company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. These were amended on 24 July 2006 to update the charity’s objects to include:

Halcrow Foundation: Company registration number 05593409

9

OUR ORIGINS

The Halcrow Foundation, an independent charity, is a legacy of the generosity and kindness of the employees at Halcrow. Their response to the Asian tsunami on Boxing Day 2004 was the spark that led to its creation.

Employees across the company were deeply affected by the devastation and loss of life, and came together to raise funds to help the victims.

Halcrow was sold in 2011. The Halcrow Trust, a major shareholder in the company, was the main beneficiary of the sale. After the majority of proceeds had been distributed to Halcrow employees, the trust asked the Halcrow Foundation to propose how it could use the remainder in a way that reflected Halcrow’s stated purpose – sustaining and improving the quality of people’s lives.

Using the company’s detailed knowledge of the affected areas, a small team was able to ensure the large sums raised supported communities in Indonesia and Sri Lanka where it was needed most, helping people to rebuild their lives.

The success of these early projects inspired the formal establishment of the Halcrow Foundation in 2005, as an independent charity. At that time it was largely funded by a proportion of Halcrow profits, as well as employee contributions, which meant it was able to go on to support over 150 projects in 27 countries, directly helping around 50,000 people.

Rising to that challenge, the foundation made its proposal and secured the funds, giving it the firm financial footing it needed to continue its work long into the future.

And so, 150 years on from the birth of the company whose name it took, the Halcrow Foundation is proudly preserving the legacy of one of the UK’s great engineering companies and the spirit of its people.

Halcrow’s history

Established in 1868, Halcrow’s origins were in civil engineering for port, maritime and railway projects in the north of England, Wales and Scotland. It won its first overseas commission in the 1890s.

In the first half of the 20th century, the business expanded into tunnelling and hydroelectric schemes, such as a 24km-long tunnel through the Ben Nevis massif and air raid shelters beneath London Underground stations. Later

it moved into structural engineering, water management and consulting for infrastructure projects.

At its peak, Halcrow was working in over 70 countries from a network of more than 90 offices, on projects as diverse as the Channel Tunnel rail link, which carries the Eurostar to Paris, Toronto’s Pearson Airport and the Chongzun Expressway in China.

10 Halcrow Foundation: Company registration number 05593409

----- Start of picture text -----
We have supported multiple projects with Social Economical and
Environmental Developer (SEED), helping young people with special needs
and learning disabilities in the Vavuniya District, Sri Lanka.
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----- Start of picture text -----
By supporting Environmentalists Development
Association-Ethiopia (EDA-E), we are helping
to build sustainable and clean water supplies in
Entoto and Tullu Nacha villages in Ethiopia.
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We funded a Build It International project that meets the sanitation and
education needs of almost 500 pupils at Chitukuko Community School near
Lusaka, Zambia.
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Halcrow Foundation: Company registration number 05593409 11

PROJECTS AND PARTNERSHIPS

The Halcrow Foundation embraces its engineering heritage, applying a disciplined and project-orientated mindset to all its work.

It seeks to build partnerships with like-minded people and organisations that share the same values and enthusiasm for helping others.

Nearly £2.5 million has been spent on sustainable livelihood, education and health projects in the UK, Asia and Africa since 2004. This money has directly benefitted an estimated 169,000 people, and indirectly benefitted 450,000.

Directly funded projects

Some of the projects we fund are implemented by organisations on the ground that we have carefully selected. We apply tight selection criteria to these projects and they require direct governance and supervision by our project sponsors.

The implementers are normally grassroots organisations that are close to the beneficiaries and understand their needs. They often lack resources to access and manage funds, and therefore may charge a modest overhead fee.

These projects provide employment and opportunity for local people. Responsibility for design and delivery sits with the implementing organisation.

Partnerships

We also fund projects in partnership with other like-minded organisations or charities. We understand the power of partnership, and this is key to the way we work.

The foundation works with

organisations that share our values – other charities and organisations with similar beliefs – and with whom we can establish a relationship to deliver projects jointly within our targeted sectors and geographies.

Delivery partners can bring together multiple grant-making bodies as co-funders to maximise the positive impact of projects. As they are well-established professional and charitable bodies, the Halcrow Foundation does not need to exert the same level of governance and due diligence for these organisations as is required for our standalone projects.

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Maize farmer in Malawi, taught sustainable farming
methods by our charity partner Tiyeni
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Trusted partners

The power of partnership drives everything we do. Here are four of the trusted and inspiring partners we’ve worked with in 2020.

Baraka Community Partnerships

We’ve worked with Baraka since 2018, helping to provide quality education to communities in rural Zambia. This includes funding the building of a Learning Centre, which allows children from more than 25 primary schools in the Kapiri-Mposhi District access IT and literacy classes. Following the success of the Learning Centre, we’ve continued supporting Baraka projects including part-funding a safe house that allows more girls to attend secondary school, and building a playground to promote healthy learning.

Build It International

Our partnership with Build It International is helping build brighter futures in Zambia, where overcrowded schools, lack of teachers and poor sanitation contribute to the high number of children and young people who don’t finish their education. Our funding has enabled the building of separate toilet facilities for girls, construction of teachers’ houses, and additional hand-washing facilities at a remote community school near Lusaka. We’ve also supported the charity’s Safe Hands Appeal, increasing the capacity of schools to combat the spread of Covid-19.

Groundswell

Based in London, Groundswell is a homeless charity that specialises in peer-led work to find solutions to homelessness. We’ve been supporting its Peer Progression Programme since 2017, helping staff and volunteers who have experienced homelessness deliver essential health services to people in the UK without a home. As Groundswell grows as an organisation so does demand for this programme, particularly during the coronavirus pandemic. So we’ve renewed our funding to help Groundswell continue and develop this valuable service.

Swindon Domestic Abuse Support Service

We began supporting Swindon Women’s Aid in 2011, with a donation to a Christmas event. Since then, we’ve funded a volunteer training programme that helps the Wiltshire-based charity, now called Swindon Domestic Abuse Support Service, support female and male victims of domestic abuse. In 2020, lockdowns put extra pressure on many UK households which caused greater demand for its services. So we continued our support by funding a year’s salary for a triage worker to manage the charity’s 24-hour helpline.

Halcrow Foundation: Company registration number 05593409 13

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PROJECTS AND
PARTNERSHIPS
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United Nations Sustainable Development Goals

The United Nations Sustainable Development Goals are a call for action by all countries to promote prosperity while protecting the planet. They recognize that ending poverty must go hand-in-hand with strategies that build economic growth and address a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection. More important than ever, the goals provide a critical framework for COVID-19 recovery. Halcrow Foundation is funding projects that align with the following goals:

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2020 HIGHLIGHTS

We awarded a total of £287,120 in grants, which included:

Approved projects in 2020:

Action Ethiopia – Women’s enterprise making fuel saving stoves, Ethiopia: £16,652 Groundswell – Peer Progression Programme, UK: £74,662

Action Ethiopia – Local health authority capacity strengthening, Ethiopia: £8,260 Eva Reckitt Trust – Equality in tourism, Tanzania: £12,864 Swindon Domestic Abuse Support Service – Triage worker in women’s refuge, UK: £27,500 SEED – Special education units, Sri Lanka: £49,000

Ongoing projects in 2020:

Karuna Trust – Women’s Livelihood project, India: £64,878 awarded in year Groundswell – Peer Progression Programme, UK EDA-Ethiopia – Entoto water supply project, Ethiopia Baraka Community Partnerships – Learning centre, Zambia: £26,932 awarded in year Tiyeni Fund – Enhancing resilience to climate change impacts, Malawi British Asian Trust – Women’s Economic Empowerment programme, Pakistan and India Prison Phoenix Trust – Yoga and meditation for young offenders, UK: £6,372 awarded in year Savera Association – Savera Medical Centre, India

SEED – Empowerment campus for children with special needs, Sri Lanka Build It International – Sanitation facilities in Chitukuko Community School, Zambia Microloan Foundation UK – Economic empowerment project for women, Zambia

These projects represent:

£75,932 on education, including supporting the development of up to 250 children in Sri Lanka who have a range of special needs and learning disabilities.

£42,132 on health and welfare, including funding medical supplies and training for three healthcare centres and 20 healthcare workers in Ethiopia, to help rural communities combat the spread of Covid-19.

£169,056 spent on income security, including helping 100 people in the UK with experience of homelessness achieve an independent future.

Halcrow Foundation: Company registration number 05593409 15

2020 HIGHLIGHTS

INSIDE STORIES

Sustainable farming in Malawi

Innocent, 23, from Chapamba Moyo, Malawi, has increased his crop yield after learning sustainable farming methods from our charity partner Tiyeni. The results were so impressive that his crops were selected for display during a public field day, organised by government agricultural staff.

Tiyeni’s sustainable farming method helps farmers like Innocent adapt to climate change by improving drainage, controlling soil erosion and improving soil fertility. While other crops struggle with increasingly unpredictable weather patterns, deep-bed farming crops show resilience and produce a much bigger harvest.

Our project with Tiyeni is transforming productivity for rural smallholder farmers, increasing their crop production by 50% and boosting income by 30%.

Supporting victims of domestic abuse

The coronavirus lockdowns have put extra pressure on many households in the UK, causing greater demand for the services provided by Swindon Domestic Abuse Support Service, which supports female and male victims of domestic abuse.

Halcrow Foundation funded a year’s salary for a triage worker to answer the charity’s helpline. As a first point of contact, the helpline receives around 50 or 60 calls per day, and this number increased by 41 per cent from April 2020, largely because of the first UK lockdown.

The charity explains how triage worker Sophie helped a woman, here named Sarah to protect her identity, escape her violent partner and find a safe place in a refuge:

“Sarah came through to triage after the police were called to a violent incident at her home by a neighbour. Sophie made contact with Sarah straight away and it was clear she needed urgent help to flee her partner. Sophie assessed the high-risk situation and it was agreed that for Sarah’s safety, refuge accommodation should be sought outside the county. Sophie phoned around ten charities and finally secured a place 200 miles away. Sarah was able to make her journey to safety within 36 hours of the initial contact.”

Innocent’s increased crop yields inspire other young farmers to adopt sustainable farming methods.

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Helping combat the spread of Covid-19 in Zambian schools

Grace Zimba is headteacher at Shifwankula primary school near Lusaka in Zambia. She explains how permanent hand-washing stations, funded by Halcrow Foundation, have helped the school combat the spread of Covid-19:

“The total population [of the school] is 3,051 learners. These learners used to make long queues using six taps, and we had challenges in filling and refilling buckets of water. It was very difficult to monitor if pupils washed their hands or not.

“The water point that has been built has helped us very much, because 27 pupils wash hands under the supervision of teachers. The washing points are very effective and efficient. We monitor our learners around compliance of Covid-19 and ensure they wash hands and mask up. The school enrolment is high, but so far so good. No children have tested positive for Covid-19, meaning the system is working.”

Triage worker Sophie helps victims of domestic abuse and their children find refuge.

Improved sanitation facilities help schools in Zambia combat the spread of Covid-19.

Halcrow Foundation: Company registration number 05593409 17

2020 HIGHLIGHTS

COVID-19 UPDATE

How we’ve worked

While the coronavirus pandemic and subsequent lockdowns have had a significant impact on some of our funded projects, Halcrow Foundation’s operations have continued almost as normal. The main difference being our face-to-face trustee meetings were replaced by virtual meetings.

We had been planning a more direct inspection of projects, however, restrictions imposed by the pandemic resulted in all meetings with charity partners taking place virtually. We also temporarily stepped away from our approach of no emergency funding and supported some of our beneficiary communities to implement coronavirus related projects, helping to safeguard existing schemes.

Build It International, Zambia

Halcrow Foundation worked with Build It International to fund the building of a sanitation block and teachers’ houses at the remote Chitukuko Community School in Zambia. When the Zambian government imposed lockdown measures in March 2020, the project’s building training programmes were put on hold.

Halcrow Foundation agreed that money saved from this could be diverted to Build It International’s Safe Hands Appeal instead. The appeal was launched in July 2020 to provide permanent hand-washing facilities to 18 schools near Lusaka, benefitting up to 20,000 children by helping to combat the spread of Covid-19. Halcrow Foundation funded five hand-washing stations which serve a total of 500 school children. This funding also helped train Build It International construction graduates to deliver the project.

Covid-19 training in community schools.

Action Ethiopia, Ethiopia

Halcrow Foundation is funding the creation of small fuel-saving stove businesses in rural communities in Metema Woreda, Ethiopia, in partnership with Action Ethiopia and its sister organisation, Sunarma.

The stoves work as an alternative to open fires, creating less smoke, improving air quality and personal safety in the home, as well as reducing forest deprivation and time spent collecting wood for charcoal. The businesses are registered and run by women, and the project aims to improve the livelihoods of 300 women and their families.

In response to the Covid-19 outbreak in Ethiopia, Halcrow Foundation also worked with Sunarma to increase the capacity of local health centres. Our funding has provided medical supplies, personal protective equipment and training to three centres and 20 healthcare workers, benefitting rural communities around Metema Woreda.

Women making fuel-saving stoves.

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How our partners have adapted

The coronavirus pandemic has impacted our projects, causing some to be delayed. However, because they operate at a grassroots community level, our charity partners have been able to adapt and work with delivery partners to ensure outcomes were still met.

Facemasks were sold in villages.

Karuna Trust

When India went into lockdown in March 2020, the Karuna Trust and India NGO partner Jan Sahas worked hard to maintain the success of the Women’s Livelihood project.

The project helps women born into manual scavenging in Madhya Pradesh, India, retrain in garment and incense making skills. Manual scavenging is usually done by women and involves disposing of human excrement from the toilets in their community. The job brings huge health risks as well as caste-based discrimination to the woman’s family.

Before the coronavirus pandemic, the project was transforming the lives of hundreds of women. When India went into lockdown in March 2020, training sessions were postponed and production paused. However, the women were supported by telephone instead and were encouraged to produce face masks for sale in their villages, which helped sustain some of their income.

Groundswell

Groundswell is a UK charity that focuses on homelessness. Halcrow Foundation funds the charity’s Peer Progression Programme, which supports staff and volunteers to deliver essential health services to people in the UK without a home.

Before the pandemic, Groundswell’s peer team were used to faceto-face support and frequent interaction with colleagues and friends in the charity’s open, friendly office. During Covid-19 restrictions, the peer progression team tried to replicate this friendly culture with frequent phone calls to staff and volunteers to check in on their wellbeing, while continuing to offer progression support.

Several peer caseworkers also worked on London’s homeless Covid-19 response, including visiting people who had been moved off the streets during lockdown and into hotels.

Maintaining support for volunteers.

Halcrow Foundation: Company registration number 05593409 19

1. 2.

Develop a varied portfolio of projects with no more than two-thirds of funding each year spent on either local community infrastructure or livelihood development.

Progress report:

Spend the income earned from our investments on projects that meet our criteria, in line with our disbursement policy.

Progress report:

20 Halcrow Foundation: Company registration number 05593409

3. 4. Partnerships – secure at least one more funding partnership.

Create a structured succession plan and recruit at least one more trustee to the board, to bring greater diversity with complementary knowledge and skills.

Progress report:

Progress report:

Looking forward

Halcrow Foundation: Company registration number 05593409 21

Financial review for 2020

Incoming resources in 2020 were £166,655 compared to £209,603 in 2019. The reduction of £42,948 is mainly due to reduced dividend income caused by the impact of the coronavirus pandemic on global stock markets.

New grants awarded during the year

£287,120

Money towards existing projects

£112,213

New grants of £287,120 were awarded during 2020. Grant payments of £200,643 were made during the year, of which £112,213 related to existing projects.

The net expenditure of £142,856 less investment gains of £116,335 has contributed to a small reduction in funds of £26,521 to £5,860,622.

Money going towards projects awarded during 2020

£88,430

Halcrow Foundation: Company registration number 05593409

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2020 IN NUMBERS

£287,120 9,000+ 8 number of value number new projects of new projects of direct beneficiaries

Education projects £75,932 supporting 500+ people Food and income security improvements £169,056 for 1,500+ people Health and welfare programmes £42,132 for 7,000+ people

Halcrow Foundation: Company registration number 05593409 23

THE BOARD OF TRUSTEES

Contact us:

Email the Halcrow Foundation representative using this format:

Email: firstname.surname@ halcrowfoundation.org

Our team

Our board of trustees is made up of former Halcrow employees, with a broad mix of skills relating to development projects throughout the world. Most have been involved with the foundation from the very start in early 2005.

The board meets six to eight times a year and gives detailed consideration to monitoring the progress of the charity in achieving its performance and quality objectives. This includes reporting on returns from investments in securities and properties, grant strategies, approving grant applications, as well as the identification and management of risk.

We have reviewed hundreds of grant applications and carefully select projects that fulfil our objectives and are both measurable and sustainable.

We are privileged to be able to volunteer our time and skills to ensure the work of the Halcrow Foundation continues.

David Kerr, Chair and Trustee James Billinghurst, Trustee Anna Mann, Trustee Malcolm Wallace, Trustee Andrew Yeoward, Trustee

24 Halcrow Foundation: Company registration number 05593409

GOVERNANCE

The board of trustees has put in place a range of policies and operational documents, alongside its overall plan, to ensure that its governance is robust. Through these and its annual financial reporting, the foundation maintains a high level of diligence and transparency.

Public benefit

The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charities Commission in exercising their powers and duties.

Reference and administrative details

Trustees (directors)

James Billinghurst David Kerr Anna Mann Malcolm Wallace Andrew Yeoward

Chair of trustees

David Kerr

Finance director

James Billinghurst

Communications

Lucy Mason

Registered office

11 Fielding Road Chiswick London W4 1HP

Charity registration number

1115729

Bankers

CAF Bank Ltd 25 Kings Avenue West Malling Kent ME19 4JQ

Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL

Listed investment managers

Rathbone Investment Management Limited Port of Liverpool Building, Pier Head Liverpool L3 1NW

Independent examiner

Woodward Hale 38 Dollar Street Cirencester Gloucestershire GL7 2AN

Company registration number

05593409

Website

halcrowfoundation.org

Halcrow Foundation: Company registration number 05593409 25

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of the Halcrow Foundation for the purposes of company law) are responsible for preparing the annual report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. This includes the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website.

Approved by the trustees on 7 September 2021 and signed on their behalf by:

David Kerr Chair of trustees

26 Halcrow Foundation: Company registration number 05593409

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Improved facilities at Baraka Community Partnerships’ Learning Centre is helping
more children access quality education. This increases employment opportunities and
strengthens the local economy.
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SEED’s pioneering work in special needs education is transforming children’s learning and
development. It also motivates parents to participate in their schooling.
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Halcrow Foundation: Company registration number 05593409

27

HALCROW FOUNDATION FINANCIAL REPORT 28 Halcrow Foundation: Company registration number 05593409

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE HALCROW FOUNDATION

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st December 2020.

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to 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 responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity’s trustees of the company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Having satisfied myself that the accounts of the company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Name: Vincent Cowling

Relevant professional qualification or body:

ICAEW

Address: Woodward Hale, 38 Dollar Street, Cirencester, Gloucestershire, GL7 2AN

Date: 7 September 2021

Halcrow Foundation: Company registration number 05593409 29

HALCROW FOUNDATION FINANCIAL REPORT

Statement of financial activities (including income and expenditure account) for the year ended 31 December 2020

Notes
Income from:
Donatons
Investments
Dividends and similar distributons
Interest receivable
Total
Expenditure on:
Raising funds
Investment management costs
3
Charitable actvites
Grants awarded
5
Grants cancelled
5
Support costs
4
Total
Net income/(expenditure) before
gains on investments
Net gains on investments
Net movement in funds
Reconciliaton of funds:
Fund balances brought forward
Fund balances carried forward
11		 Unrestricted funds
2020
£
£
1,066
165,086
503
165,589
166,655
11,405
287,120
(55)
11,041
298,106
309,511
(142,856)
116,335
(26,521)
5,887,143
5,860,622		 Unrestricted funds
2019
£
£
2,095
206,406
1,102
207,508
209,603
-
131,158
(48,000)
15,240
98,398
98,398
111,205
526,447
637,652
5,249,491
5,887,143		 Unrestricted funds
2019
£
£
2,095
206,406
1,102
207,508
209,603
-
131,158
(48,000)
15,240
98,398
98,398
111,205
526,447
637,652
5,249,491
5,887,143
209,603
-
98,398
98,398
111,205
526,447
637,652
5,249,491
5,887,143

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

30 Halcrow Foundation: Company registration number 05593409

Balance sheet as at 31 December 2020

Notes
Fixed assets:
Investments
6
Total fxed assets
Current assets:
Debtors
7
Cash at bank and in hand
Total current assets
Liabilites:
Creditors: amounts falling due within
one year
8
Net current assets
Provisions for liabilites
9
Net assets
The funds of the charity:
Unrestricted funds
11
Total charity funds		 2020
£
6,103,244
6,103,244
124
131,822
131,946
(6,778)
125,168
(367,790)
5,860,622
5,860,622
5,860,622		 2019
£
5,986,257
5,986,257
67
185,787
185,854
(3,600)
182,254
(281,368)
5,887,143
5,887,143
5,887,143

Halcrow Foundation: Company registration number 05593409 31

HALCROW FOUNDATION FINANCIAL REPORT

Balance sheet continued as at 31 December 2020

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees (who are also directors of the company for the purpose of company law) acknowledge their responsibilites for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

Approved by the trustees on 7 September 2021 and signed on their behalf by:

David Kerr Chair of trustees

32 Halcrow Foundation: Company registration number 05593409

Notes to the financial statements for the year ended 31 December 2020

1. Accounting policies

1.1 Basis of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019)”, Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the Charities Act 2011 and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

1.2 Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

1.3

Income recognition

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliability.

1.4

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliability. Such items are recognised as income on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Volunteer time is not recognised in accordance with the Charities SORP (FRS 102).

1.5 Interest receivable

Interest on funds held on deposit is recognised when receivable and the amount can be measured reliability by the charity and this is normally upon notification of the interest paid or payable by the bank.

1.6 Going concern

The trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern.

1.7 Critical accounting estimates and areas of judgement

Key judgements that the charitable company has made which have a significant effect on the accounts include estimating the liability from multi-year grant commitments and forward planning for future grant commitments during a period of economic uncertainty.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

1.8 Investments

Investments held as fixed assets are revalued at quoted market price at the balance sheet date. The gain or loss for the period is taken to the statement of financial activities.

Halcrow Foundation: Company registration number 05593409 33

HALCROW FOUNDATION FINANCIAL REPORT

Notes to the financial statements (continued) for the year ended 31 December 2020

1.9

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make a payment, it is probable that settlement will be required and the amount of the obligation can be measured reliability. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings based on the proportion of time spent on each of these areas of work.

Grants payable are charged to the statement of financial activities in full when approved by the trustees and communicated to the recipient. Grants awarded but unpaid at the balance sheet date are recognised as grant commitments within provisions for liabilities. Grants cancelled or repaid in the year are credited to the statement of financial activities. Charitable activities includes support costs associated with grants payable.

1.10

Fund accounting

The charity maintains one type of fund being general unrestricted funds that represents income that is expendable at the discretion of the trustees in furtherance of the objects of the charity.

2.

Legal status of the charity and liability of members

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to a sum not exceeding £10.

3.

Investment management costs

Rathbone Investment Management Limited have changed the way they charge their fees although the total fee remains the same as the previous year. From the start of the current year they levied an annual charge of 0.2% after value added tax based on the value of the portfolio and this fee is represented by investment management costs of £11,405 on the face of the Statement of Financial Activities. Rathbones also levy an annual management charge of 0.3% (0.5% in the previous year) as a deduction from within the fund. Income from dividends and similar distributions were shown net of investment management fees in previous years.

4. Analysis of support costs

Grant support
Project supervision
General support
Website design and maintenance
Consultancy
Insurance
Miscellaneous
Bank charges
Governance
Travel and other expenses
Miscellaneous
Independent examiner's remuneraton
Independent examiner's remuneraton for services including
accounts preparaton		 2020
£
-
1,472
5,145
331
217
352
224
-
1,080
2,220
11,041		 2019
£
2,224
752
5,961
-
379
393
1,365
369
1,020
2,777
15,240

34 Halcrow Foundation: Company registration number 05593409

,kV T

HALCROW FOUNDATION FINANCIAL REPORT

Notes to the financial statements (continued) for the year ended 31 December 2020

5. Grants

----- Start of picture text -----
Project name Sponsor Aim Location
160 Women’s Livelihood project in Madhya Karuna Trust Skill development and support India
Pradesh
163 Improving livelihoods in targeted low-in- WSUP Urban water and sanitation Madagascar
come communities
166 Progression Programme: Building Live- Groundswell Support homeless people United Kingdom
lihoods
167 Entoto Water Supply Project EDA - Ethiopia Clean water Ethiopia
169 The Baraka Learning Centre, Kapi- Baraka Community Construction of Learning Centre for Zambia
ri-Mposhi District Partnerships teachers and students
170 Enhancing resiliance to climate change Tiyeni Fund Sustainable farming to combat soil Malawi
impacts erosion
171 Women's Economic Empowerment The British Asian Trust Systemic change for women Pakistan and India
Programme
172 Yoga and meditation in secure establish- Prison Phoenix Trust Support for young offenders United Kingdom
ments for young offenders
173 Savera Medical Centre Savera Association Medical services for slum dwellers India
175 SEED Empowerment Campus for Chil- SEED Education and development of special Sri Lanka
dren with Special Needs needs children
177 Chitukuko Community School Build It International Female latrines and other infrastructure Zambia
for a school
178 Economic empowerment programme MicroLoan Foundation Business training and low risk loans for Zambia
for women UK marginalised women
179 Fuel saving stoves women's enterprise Action Ethiopia Creation of sustainable enterprises for Ethiopia
women
180 Progression Programme Groundswell Support homeless people United Kingdom
181 Local health authority capacity Action Ethiopia To mitigate the impact of COVID-19 Ethiopia
strengthening
182 Equality in tourism Eva Reckitt Trust Fund Sustainable tourism and livelihoods Tanzania
183 Triage worker in women's refuge Swindon Women’s Aid Support victims of domestic abuse United Kingdom
184 Sri Lanka special education units SEED Establish framework and facilities for Sri Lanka
special needs children
----- End of picture text -----

36 Halcrow Foundation: Company registration number 05593409

----- Start of picture text -----
Commitment Awarded in year Cancelled in year Paid in year Commitment
b/f c/f
£ £ £ £
8,793 64,878 - (26,311) 47,360
2,000 - 0 - 2,000
16,224 - - (16,224) -
- - -
2,600 2,600
888 26,932 - (19,913) 7,907
4,000 - - (4,000) -
155,000 - - (10,000) 145,000
- 6,372 - (3,186) 3,186
- -
26,000 (6,500) 19,500
- - -
1,000 (1,000)
- - -
24,863 (24,863)
- -
40,000 (55) (39,945)
- -
16,652 (10,000) 6,652
- -
74,662 (8,602) 66,060
- 8,260 - (7,860) 400
- -
12,864 (9,864) 3,000
- -
27,500 (12,375) 15,125
- - -
49,000 49,000
281,368 287,120 (55) (200,643) 367,790
----- End of picture text -----

Halcrow Foundation: Company registration number 05593409 37

HALCROW FOUNDATION FINANCIAL REPORT

Notes to the financial statements (continued) for the year ended 31 December 2020

6. Fixed asset investments

Market value brought forward
Disposals
Unrealised gains
Market value
Cash		 2020
£
5,986,226
(2,967)
116,684
6,099,943
3,301
6,103,244		 2019
£
5,459,779
-
526,447
5,986,226
31
5,986,257

The listed investment is comprised entirely of shares in the Rathbone Active Income and Growth Fund. The objective of this fund is to achieve a growing level of income and capital growth from an actively managed portfolio that comprises a range of asset classes including shares, bonds, commodities and property. The constituent investments are located both within and outside the UK.

7. Debtors

Prepayments and accrued income
8.
Creditors: amounts falling due within one year
Trade creditors
Accruals
9.
Provisions for liabilites
Grant commitments (Note 5)		 2020
£
124
2020
£
420
6,358
6,778
2020
£
367,790		 2019
£
67
2019
£
-
3,600
3,600
2019
£
281,368

10. Related party transactions

There were no related party transactions during the year that required disclosure.

The trustees were not paid and did not receive any other benefits from employment with the charity in the year. In addition, no trustee received payment for professional or other services supplied to the charity. During the year, 3 trustees were reimbursed for travel expenses. The total amount reimbursed was £224.

38 Halcrow Foundation: Company registration number 05593409

Notes to the financial statements (continued) for the year ended 31 December 2020

11. Movements in funds

General funds
Total unrestricted funds		 Balance at
Balance at
1st January
31st December
2020
Income
Expended
Gains
2020
£
£
£
£
£
5,887,143
166,655
(309,511)
116,335
5,860,622
5,887,143
166,655
(309,511)
116,335
5,860,622

Unrestricted funds are available to be spent for any of the purposes of the charity.

12. Control

The company is limited by guarantee and therefore there are no individual controlling parties. The company is controlled by the directors and its members.

Halcrow Foundation: Company registration number 05593409 39

EMPOWERING LIVES, TRANSFORMING COMMUNITIES

Halcrow Foundation

@HalcrowFNDN Halcrow Foundation

Halcrow Foundation: Company registration number 05593409

www.halcrowfoundation.org