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2022-03-31-accounts

Company no. 06173274 Charity no. 1119898

Guy Fox History Project Limited Report and Unaudited Financial Statements

31 March 2022

Guy Fox History Project Limited

Reference and administrative details

For the year ended 31 March 2022
Company number 06173274
Charity number 1119898
Registered office and Unit LF 2-9
operational address The Leathermarket
Weston Street
London
SE1 3HN
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Lana Kamffer
Simon Harper
Kimberley Swan
Company secretary Kourtney Harper
Bankers NatWest Bank
Waterside Court
Chatham Maritime
Kent
ME4 4RT
Independent Godfrey Wilson Limited
examiners Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Guy Fox History Project Limited

Report of the trustees

For the year ended 31 March 2022

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

The charity is controlled by its governing document, a Memorandum of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have assessed potential risks to the charity and taken action to put into place systems to mitigate those risks. Over the year the trustees will be reviewing and revising its policies regarding business risks, financial risks, health and safety risks and other identifiable risks.

Objectives and activities

The charity’s objectives are to advance the education of children in the history, arts and cultural heritage of London and other educational projects as the Board sees fit.

Achievements and performance

While this has been another challenging year, we are optimistic about our future! We successfully launched the ‘How the World REALLY Works: The City’ book in July, in a hybrid online event; and we promoted our ‘How the World REALLY Works: The Economy’ videos in December, with an animated advent calendar.

We have also negotiated – and commenced – two new educational projects, which have seen us back in classrooms doing what we do best. No matter what the future holds, we remain passionately committed to our mission to inspire and educate children.

‘How the World REALLY Works: Dispute Resolution’

We are partnering with Jones Day, Berkeley Research Group and Blackstone Chambers, plus children at Tower Bridge Primary School on a project to explore different types of dispute and how to resolve them. The workshops will take place from April to June, with the book launch in late Autumn 2022. This will be the 10th book in the series!

‘How the World REALLY Works: Philanthropy’

In late 2021, UBS Optimus Foundation confirmed support for a project about philanthropy. We completed 6 months’ worth of preparation and workshops in three weeks (!) and look forward to publishing the book, which will be the 11th in the series, in November 2022.

2

Guy Fox History Project Limited

Report of the trustees

For the year ended 31 March 2022

Financial review

Incoming resources were £80,930 (2021: £5,920) and resources expended were £39,612 (2021: £19,950). The surplus for the year consists of an increase of restricted funds relating to educational projects continuing into the next financial year.

Our Financial Supporters in 2021/2022:

Thank you to Jones Day, Berkeley Research Group and Blackstone Chambers and to everyone who supported us via donations. Thank you to our YouTube viewers and anyone who uses AmazonSmile.

The trustees consider the finances of the charity as set out on pages 6 to 18 to be satisfactory.

Reserves policy

The trustees aim to keep sufficient reserves to meet the day-to-day expenditure of the organisation for at least one year, to mitigate against risks related to loss or incapacity of key staff, other business continuity emergencies and disruptive global events, and to keep sufficient restricted funds in order to see these funded projects to their conclusion.

The trustees aim to revise the reserves policy, including the careful consideration of the reserves target figure, during 2022-23.

Public benefit

The trustees have had regard to the Charity Commission’s guidance on public benefit. The charity is deemed to deliver public benefit through immersive educational projects with children. The projects aim to develop lifelong learning skills, vocational awareness, and an understanding of financial literacy and heritage topics. Tangible project outputs may include educational resources that are produced and shared, free, with children and families.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

3

Guy Fox History Project Limited

Report of the trustees

For the year ended 31 March 2022

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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 corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 21 November 2022 and signed on their behalf by

Lana Kamffer - trustee

4

Independent examiner's report

To the trustees of

Guy Fox History Project Limited

I report to the trustees on my examination of the accounts of Guy Fox History Project Limited (the charitable company) for the year ended 31 March 2022, which are set out on pages 6 to 18.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors 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’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company'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.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Alison Godfrey

Date: 24 November 2022 Alison Godfrey FCA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

5

Guy Fox History Project Limited

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

Restricted Unrestricted
Note
£
£
Income from:
Donations
-
7,267
Charitable activities
3
72,664
-
Other trading activities
-
611
Investments
-
388
Total income
72,664
8,266
Expenditure on:
Charitable activities
26,325
13,287
Total expenditure
4
26,325
13,287
Net income / (expenditure)
46,339
(5,021)
Transfers between funds
2,748
(2,748)
Net movement in funds
5
49,087
(7,769)
Reconciliation of funds:
Total funds brought forward
14,426
123,484
Total funds carried forward
63,513
115,715
2022
2021
Total
Total
£
£
7,267
4,625
72,664
-
611
630
388
665
80,930
5,920
39,612
19,950
39,612
19,950
41,318
(14,030)
-
-
41,318
(14,030)
137,910
151,940
179,228
137,910

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the accounts.

6

Guy Fox History Project Limited

Balance sheet

As at 31 March 2022

Note
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
11
Net current assets
Net assets
12
Funds
13
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds
£
63,456
118,647
182,103
(3,035)
2022
£
159
1
160
179,068
179,228
63,513
17,613
98,102
179,228
2021
£
205
1
206
11,648
127,340
138,988
(1,284)
137,704
137,910
14,426
19,707
103,777
137,910

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 21 November 2022 and signed on their behalf by

Lana Kamffer - trustee

7

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Guy Fox History Project Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

The charity has one wholly controlled subsidiary, Guy Fox Limited (registered company number 05604082). Guy Fox History Project has taken advantage of the exemption under the Charities SORP FRS102 to prepare group accounts on the basis that the consolidated income is less than £1m. The accounts of Guy Fox Limited are publicly available from Companies House.

c) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of general unrestricted reserves totaling £98,102. There are no material uncertainties about the charity's ability to continue as a going concern.

d) Income

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

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

e) Interest receivable

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

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

8

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. 100% of these costs have been allocated to charitable activities, as the charity does not expend any significant resources on raising funds.

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment

5 years

Items of equipment are capitalised where the purchase price exceeds £500.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

9

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

n) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

o) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note (i) above.

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Other trading activities
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Restricted
£
£
2,600
2,025
-
630
-
665
2,600
3,320
6,899
13,051
6,899
13,051
(4,299)
(9,731)
(17,568)
17,568
(21,867)
7,837
Unrestricted
2021
Total
£
4,625
630
665
5,920
19,950
19,950
(14,030)
-
(14,030)

10

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

3. Income from charitable activities

Educational project grants
HTWRW: Philanthropy
HTWRW: Dispute Resolution
Restricted
£
£
45,664
-
27,000
-
72,664
-
Unrestricted
2022
Total
£
45,664
27,000
72,664
2021
Total
£
-
-
-

4. Total expenditure

Project costs
Freelance talent
Postage, carriage and stationery
Child protection costs
Travel and subsistence
Other office costs
Depreciation
Premises expenses
Computer and internet
Accountancy fees
Bank charges
Insurance
Sub-total
Allocation of support and governance costs
Total expenditure
£
£
14,460
-
7,461
-
472
-
597
-
250
-
535
-
46
-
13,364
-
588
-
-
1,320
-
49
-
470
37,773
1,839
1,839
(1,839)
39,612
-
Support and
governance
costs
Charitable
activities
2022
Total
£
14,460
7,461
472
597
250
535
46
13,364
588
1,320
49
470
39,612
-
39,612

Total governance costs were £1,320 (2021: £900)

11

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

4. Total expenditure (continued) Prior period comparative

Total expenditure (continued)
Prior period comparative
Project costs
Freelance talent
Postage, carriage and stationery
Child protection costs
Travel and subsistence
Other office costs
Depreciation
Premises expenses
Computer and internet
Accountancy fees
Bank charges
Insurance
Sub-total
Allocation of support and governance costs
Total expenditure
£
£
7,718
-
285
-
558
-
206
-
80
-
31
-
424
-
8,599
-
212
-
-
900
-
30
-
907
18,113
1,837
1,837
(1,837)
19,950
-
Charitable
activities
Support and
governance
costs
2021
Total
£
7,718
285
558
206
80
31
424
8,599
212
900
30
907
19,950
-
19,950

12

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

5. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiner's remuneration:
▪Independent Examination (including VAT)
2022
£
46
Nil
Nil
1,320
2021
£
424
Nil
Nil
900

6. Staff costs and numbers

The key management personnel of the charitable company comprise the trustees. The total employee benefits of the key management personnel were £Nil (2021: £Nil).

7. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

8. Tangible fixed assets

Cost
At 1 April 2021 and at 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
Total
£
6,654
6,449
46
6,495
159
205

13

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

9. Investments

Investments
Market value at 1 April 2021 and 31 March 2022
Historical cost:
At 1 April 2021 and 31 March 2022
2022
£
1
1
2021
£
1
1

The investment represents 100% of the issued share capital of Guy Fox Limited (company registration no. 05604082). The company undertakes non-charitable trading activities for the charity and donates its available profits to the charity.

10. Debtors

Accrued income
Prepayments
Amounts owed by group undertakings
2022
£
51,664
3,022
8,770
63,456
2021
£
-
2,999
8,649
11,648

11. Creditors : amounts due within 1 year

Accrued income
Accruals
2022
£
1,239
1,796
3,035
2021
£
384
900
1,284

14

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

12. Analysis of net assets between funds

Tangible fixed assets
Investments
Current assets
Current liabilities
Net assets at 31 March 2022
Prior period comparative
Tangible fixed assets
Investments
Current assets
Current liabilities
Net assets at 31 March 2021
£
£
-
-
-
-
63,990
17,613
(477)
-
63,513
17,613
£
£
-
-
-
-
14,426
19,707
-
-
14,426
19,707
Restricted
funds
Restricted
funds
Designated
funds
Designated
funds
£
159
1
100,500
(2,558)
98,102
£
205
1
104,855
(1,284)
103,777
General
funds
General
funds
Total
funds
£
159
1
182,103
(3,035)
179,228
Total
funds
£
205
1
138,988
(1,284)
137,910

15

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

13. Movements in funds

Restricted funds
HTWRW: Economy Video
HTWRW: The City
2020 Vision
HTWRW: Philanthropy
Total restricted funds
Designated funds:
Reprint funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
HTWRW: Dispute
Resolution
At 1 April
2021
£
752
9,284
4,390
-
-
14,426
19,707
19,707
103,777
123,484
137,910
Income
£
£
-
(3,500)
-
(9,284)
-
(4,390)
45,664
(2,689)
27,000
(6,462)
72,664
(26,325)
-
(2,094)
-
(2,094)
8,266
(11,193)
8,266
(13,287)
80,930
(39,612)
Expenditure
£
2,748
-
-
-
-
2,748
-
-
(2,748)
(2,748)
-
Transfers
between
funds
At 31
March
2022
£
-
-
-
42,975
20,538
63,513
17,613
17,613
98,102
115,715
179,228

Purposes of restricted funds

HTWRW: Economy Video

Following on from our 'How the World REALLY Works: The Economy' book project, UBS funded the development of 24 short animated films exploring the economy. UBS staff volunteers contributed their time and talent for narration and sound effects. The transfer relates to an overspend on the project.

HTWRW: The City

Funded by the City of London, this project saw students at Aldgate Primary School and volunteers from across the City of London collaborate on a book about the City.

2020 Vision

A fundraiser in 2020, to celebrate the 20th anniversary of Guy Fox on 23 March 2020.

HTWRW: Philanthropy

Funded by the UBS Optimus Foundation, in this project we worked with students at DeBeauvoir Primary School to create a children's guide to philanthropy.

HTWRW: Dispute Resolution

Funded by Blackstone Chambers, BRG, and Jones Day, in this project we worked with students at Tower Bridge Primary School to create a children's book about resolving disputes.

16

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

13. Movements in funds (continued) Purposes of designated funds Reprint funds

This fund pays for the reprint of books for distribution to the community.

Prior period comparative
Restricted funds
HTWRW: Asset Management
HTWRW: Economy Video
HR: Women in Law
HTWRW: The City
2020 Vision
Total restricted funds
Designated funds:
Reprint funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
HTWRW: Savings,
Investments and Pensions
At 1 April
2020
£
5,011
6,706
2,851
5,851
14,084
1,790
36,293
17,053
17,053
98,594
115,647
151,940
Income
£
£
-
-
-
-
-
(2,099)
-
-
-
(4,800)
2,600
-
2,600
(6,899)
2,628
26
2,628
26
692
(13,077)
3,320
(13,051)
5,920
(19,950)
Expenditure
£
(5,011)
(6,706)
-
(5,851)
-
-
(17,568)
-
-
17,568
17,568
-
Transfers
between
funds
At 31
March
2021
£
-
-
752
-
9,284
4,390
14,426
19,707
19,707
103,777
123,484
137,910

The transfers from restricted funds during 2020-21 represent the removal of historic balances on completed projects which related to allowable overheads which had not been recognised during 2019-20.

14. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years
2022
£
3,537
-
3,537
2021
£
8,489
3,537
12,026

17

Guy Fox History Project Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Related party transactions

During the year, Guy Fox Limited charged Guy Fox History Project Limited £7,000 (2021: £Nil) for consultancy and design and £6,000 (2021: £Nil) for secondment. At the end of the year, £8,770 (2021: £8,650) was owed to Guy Fox History Project Limited.

The spouse of Simon Harper, trustee, is employed by Guy Fox Limited and was seconded to Guy Fox History Project Limited during the year, receiving remuneration of £7,000 (2021: £6,000).

18