| Page | |||||||
|---|---|---|---|---|---|---|---|
| Trustees' annual report (incorporating |
the | directors' | report) | ||||
| Independent auditor's |
report to | the members | 10 | ||||
| Statement of financial | activities | (including | income and expenditure | account) | 14 | ||
| Balance sheet | |||||||
| Notes to the financial | statements |
| Year en | ded 31 Dece | mber 2020 | ||||
|---|---|---|---|---|---|---|
| Principal | staff | David Drewery | (Executive | Director) | ||
| Charles Keidan |
(Executive Editor) | |||||
| Bankers | Barclays Bank pic | |||||
| PO Box32016 | ||||||
| London | ||||||
| NW1 2ZH | ||||||
| Company | secretary | David Drewery | (appointed | 14January 2021) | ||
| Auditor | Lovewell Blake | LLP | ||||
| Chartered accountants |
& statutory | auditor | ||||
| Bankside 300 | ||||||
| Peachman Way |
||||||
| Broadland Business Park |
||||||
| Norwich | ||||||
| NR7 OLB | ||||||
| Solicitors | Bates Wells & Braithwaite | London | LLP | |||
| 2-6 Cannon Street | ||||||
| London | ||||||
| EC4M 6YH |
| Company Limited |
by Guarantee | |||
|---|---|---|---|---|
| Trustees' annual |
report (incorporating the |
directors' | report) | (conUnued) |
| Year ended 31 December 2020 | ||||
| Structure, governance |
and management (controvert) |
|||
| Trustees and Members | ofthe Board | |||
| Axefie Davezac | Fondation de France |
|||
| Philippe Jannet | ||||
| Elizabeth McKeon |
Ikea Foundation | |||
| Felix Oldenburg | German Association | of Foundations | ||
| Stefan Schaefers | King Baudouin Foundation |
|||
| Joel Toner | Non Profit Quarterly | |||
| Walter Veirs | Charles Stewart Mott |
Foundation | ||
| Nienke Venema | Democracy & Media |
Foundation |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| funds | funds | Totalfunds | Total funds | ||||
| Note | 6 | 6 | 6 | F | |||
| Income snd endowments | |||||||
| Donations and legacies Charitable activities Investment income |
5 6 7 |
248,381 165,293 501 |
8,339 | 256,720 165,293 501 |
142,530 166,364 760 |
||
| Total income | 414,175 | 8,339 | 422,514 | 309,654 | |||
| Expenditure | |||||||
| Expenditure on raising funds: |
|||||||
| Raising funds Charitable activities |
8 9 |
3,126 302,565 |
6,104 | 3,126 308,669 |
3,034 260,193 |
||
| Total expenditure | 305,691 | 6,104 | 311,795 | 263,227 | |||
| Net income and net movement | in funds | 108,484 | 2,235 | 110,719 | 46,427 | ||
| Reconciliation offunds |
|||||||
| Total funds brought |
forward | 158,334 | 158,334 | 111,907 | |||
| Total funds carried | forward | 266,818 | 2,235 | 269,053 | 158,334 |
| Note | 2020 6 |
f | 2019 | |||||
|---|---|---|---|---|---|---|---|---|
| Current assets | ||||||||
| Debtors Cash at bank and |
in | hand | 15 | 68,449 252,689 |
23,596 142,516 |
|||
| 321,138 | 166,112 | |||||||
| Creditors: Amounts | falling due within | |||||||
| one year | 16 | (52,085) | (7,778) | |||||
| Net current assets | 269,053 | 158,334 | ||||||
| Total assets less | current liabilities | 269,053 | 158,334 | |||||
| Net assets | 269,053 | 158,334 | ||||||
| Funds ofthe charity | ||||||||
| Restricted funds | 2,235 | |||||||
| unrestricted funds |
266,818 | 158,334 | ||||||
| Total charity funds | 19 | 269,053 | 158,334 |
| Donations and legacies |
||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds f |
Funds f. |
2020 f |
||
| Donations | ||||
| Donations | 436 | 436 | ||
| Grants | ||||
| Charles Stewart Mott Foundation |
38,373 | 38,373 | ||
| King Baudouin Foundation |
16,291 | 16,291 | ||
| Adessium Foundation Fondation de France |
12,267 11,180 |
2,235 | 12,267 13,415 |
|
| The William and Flora Hewlett | Foundation | 11,242 | 11,242 | |
| Robert Bosch Stiftung Calouste Gulbenkian |
88,145 13,183 |
88,145 13,183 |
||
| Conrad Hilton Foundation |
6,104 | 6,104 | ||
| Bernard van Leer Foundation |
||||
| Oak Foundation | 57,264 | 57,264 | ||
| 248,381 | 8,339 | 256,720 | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds f |
Funds f |
2019 f |
||
| Donations | ||||
| Donations | 1,327 | 1,327 | ||
| Grants | ||||
| Charles Stewart MoN Foundation |
39,233 | 39,233 | ||
| King Baudouin Foundation |
16,807 | 16,807 | ||
| Adessium Foundation Fondation de France |
26,502 | 26,502 | ||
| The William and Flora Hewlett Robert Bosch Stiftung |
Foundation | 11,234 | 11,234 | |
| Calouste Gulbenkian |
||||
| Conrad Hilton Foundation |
||||
| Bernard van Leer Foundation Oak Foundation |
8,135 39,292 |
8,135 39,292 |
||
| 142,530 | 142,530 |
| Charitable activities |
||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds f |
2020 f |
Funds | 2019 f |
|
| Publishing Subscriptions Sponsors subscriptions |
14,029 35,054 79,385 |
14,029 35,054 79,385 |
6,490 39,469 89,543 |
6,490 39,469 89,543 |
| Advertising Single copy sales |
22,333 3,391 |
22,333 3,391 |
24,004 5,183 |
24,004 5,183 |
| Event income | 11,101 | 11,101 | 1,675 | 1,675 |
| 165,293 | 165,293 | 166,364 | 166,364 |
| Investment income |
||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds F |
2020 f |
Funds f |
2019 f |
|
| Bank interest receivable | 501 | 501 | 760 | 760 |
| Raising funds | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds f |
2020 f |
Funds f |
2019 f |
|
| Wages and salaries | 3,126 | 3,126 | 3,034 | 3,034 |
| Magazine | Publishing | |||
|---|---|---|---|---|
| Costs | Costs | Total2020 | ||
| E | ||||
| Staff costs | 205,169 | 1,851 | 207,020 | |
| Property costs Other costs Governance costs |
9,600 76,706 5,700 |
9,343 300 |
9,600 86,049 6,000 |
|
| 297,175 | 11,494 | 308,669 |
| Magazine | Publishing | |||
|---|---|---|---|---|
| Costs | Costs | Total 2019 | ||
| Staff costs Property costs Other costs Governance costs |
K 176,337 9,600 64,005 3,220 |
6 3,034 3,827 170 |
8 179,371 9,600 67,832 3,390 |
|
| 253,162 | 7,031 | 260,193 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| 8 | 6 | |||||
| Independent examination Accounts preparation Audit |
1,100 4,900 |
2,330 1,060 |
||||
| 3,390 | ||||||
| Net income | ||||||
| Net income is stated after charging/(crediting): | ||||||
| 2020 E |
2019 f |
|||||
| Operating lease rentals Independent examiner's Independent examiner's Auditor remuneration |
remuneration remuneration: |
Independent examination Accounts preparation |
9,600 | 9,600 2,330 1,060 |
| 2020 | 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| E | E | ||||||||
| Fees | payable | for | the | audit | ofthe | financial | statements | 6,000 |
| Staffcos | ts | ||||
|---|---|---|---|---|---|
| The total | staff costs and | employee | benefits for the reporting | period are analysed as follows: | |
| 2020 | 2019 | ||||
| E | 6 | ||||
| Wages and salaries Social security costs |
185,540 15,504 |
160,590 13,672 |
|||
| Employer | contributions | to pension | plans | 9,102 | 8,143 |
| 210,146 | 182,405 |
| The average number of full time equivalent em |
ployees during the year was as follows: |
|
|---|---|---|
| 2020 | 2019 | |
| No. | No. | |
| Raising funds | 0.3 | 0.1 |
| Magazine | 4.4 | 3.9 |
| Publishing | 0.1 | 0.1 |
| Total | 4.8 | 4.1 |
| 2020 | 2019 | ||
|---|---|---|---|
| Other | debtors | 68,449 | 23,596 |
| 16. | Creditors: Amounts falling due within one year |
||
|---|---|---|---|
| 2020 | 2019 | ||
| Accruals and deferred income Social security and other taxes |
46,607 5,328 |
3,390 4,149 |
|
| Other creditors | 150 | 239 | |
| 52,085 | 7,778 | ||
| 17. | Deferred income | ||
| 2020 | 2019 f |
||
| At 1 January 2020 Amount released to income Amount deferred in year |
40,607 | 26,502 (26,502) |
|
| At 31 December 2020 | 40,607 |
| Unrestricted funds |
|||||
|---|---|---|---|---|---|
| At | |||||
| At 1 Jan 2020 F |
income f |
Expenditure E |
Transfers f |
31 Dec 2020 6 |
|
| General funds | 134,942 | 414,175 | (292,299) | (106,600) | 150,218 |
| New database | 10,000 | (10,000) | |||
| Strategic development | 10,000 | 10,000 | |||
| Digital editor | 3,392 | (3,392) | |||
| IT support | 1,200 | 1,200 | |||
| Anniversary activities |
15,000 | 15,000 | |||
| Robert Bosch Stiftung | |||||
| Fund | 70,400 | 70,400 | |||
| Website development | 20,000 | 20,000 | |||
| 158,334 | 414,175 | (305,691) | 266,818 | ||
| At | |||||
| At 1 Jan 2019 f |
Income f |
Expendituref | Transfers 6 |
31 Dec 2019 f |
|
| General funds |
111,907 | 309,654 | (263,227) | (23,392) | 134,942 |
| New database | 10,000 | 10,000 | |||
| Strategic development | 10,000 | 10,000 | |||
| Digital editor | 3,392 | 3,392 | |||
| IT support | |||||
| Anniversary activities |
|||||
| Robert Bosch Stiftung | |||||
| Fund | |||||
| Website development | |||||
| 111,907 | 309,654 | (263,227) | 158,334 |
| Restricted | funds | |||||||
|---|---|---|---|---|---|---|---|---|
| At | ||||||||
| At 1 | Jan 2020 6 |
Income E |
Expendituref | Transfers E |
31 Dec 2020 E |
|||
| Climate coverage | fund | 2,235 | 2,235 | |||||
| Operating | support | fund | 6,104 | (6,104) | ||||
| 8,339 | (6,104) | 2,235 | ||||||
| At | ||||||||
| At 1 | Jan 2019 6 |
Income | Expenditure E |
Transfers f |
31 Dec2019 6 |
|||
| Climate coverage | fund | |||||||
| Operating | support | fund |
| An As |
alysis of net assets between at 31 December 2020 |
funds | |||
|---|---|---|---|---|---|
| Unrestricted- | |||||
| General | Designated | Restricted f |
Total funds f |
||
| Net | current assets | 150,218 | 116,600 | 2,235 | 269,053 |
| As | at 31 December 2019 | ||||
| Unrestricted- | |||||
| General 8 |
Designated 5 |
Restricted E |
Total funds f |
||
| Net | current assets | 134,942 | 23,392 | 158,334 |