**Registered number: 05477652 Charity number: 1120349** ## **THE GREAT GENERATION** **(A company limited by guarantee)** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** |**CONTENTS**|| |---|---| ||Page| |**Reference and administrative details of the charity, its trustees and advisers**|1| |**Trustees' report**|2 - 6| |**Independent examiner's report**|7 - 8| |**Statement of financial activities**|9| |**Balance sheet**|10| |**Notes to the financial statements**|11 - 19| ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **Trustees** Suzanne Gowler Carolyn Gregory-Hood Piers Schreiber ## **Company registered number** 05477652 ## **Charity registered number** 1120349 ## **Registered office** First Floor Radius House, 51 Clarendon Road, Watford, Hertfordshire, WD17 1HP ## **Chief executive officer** Suzanne Gowler Page 1 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020** The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting the annual report and the financial statements for the 12 month period ended 31 December 2020. The provisions of the Statement and Recommended Practice “Accounting and Reporting by Charities” (SORP 2015) have been adopted in preparing the annual report and financial statements of the charity. ## **Objectives and Activities** ## **a. POLICIES AND OBJECTIVES** When reviewing our Aims and Objectives, and in planning our activities in their furtherance, we take careful account of the Charity Commission’s General Guidance on Public Benefit. A strategic framework was agreed in May 2008, The Great Generation continues to base its annual plans around the three interdependent goals of that framework – communities, partnership and sustainability. The definition of these goals is: **Communities** – where the enhancement of knowledge and skills will support a positive change via education and household income, and the creation of new competencies creates a momentum for UN’s Sustainable Development Goals. Local need in communities is the driver of projects, participants are recruited from partners organisations and via two signature projects. **Partnership** – fostering collaboration and cooperation to reduce waste, and connecting assets with knowledge and skills to improve efficiency and create value for everyone involved. **Sustainability** – activity driven by need ensuring engagement with relevant content and future ownership of the outcomes. The work of The Great Generation was interrupted in March 2020 with the global developments of COVID19 and the emergence of a pandemic. In January as it became clear there was a serious global health threat emerging, a risk matrix was developed that assisted The Great Generation team to discuss risk with all partners. All in-person projects were cancelled late February 2020. The Great Generation used the framework of its activity to support communities and partners remotely. The UK government offer of Furlough was taken up and our activity reduced to a minimum. At the close of 2020, The Great Generation's employee remained Furloughed. The core focus of our work is: Education and Household Income. ## **b. ACTIVITIES FOR ACHIEVING OBJECTIVES** - Virtual meetings were held with 28 local community partners around the world to provide support, knowledge and insights around the impact of the pandemic; - Mentoring local partners - Projects delivered with five local partners in Uganda were suspended Page 2 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT** The Great Generation’s projects are mutually beneficial, delivering positive outcomes for both participants who fundraise and travel to projects, and the organisations and local people where our projects take place. Key project activity ceased during 2020 beyond the remote support provided to local partners. ## **d. PROJECT PARTICIPANTS** The people who take part in projects are critical to their success. Participants are drawn from a range of backgrounds around the world, their key contributions are: 1. Activation of fundraising 2. Time 3. Generosity with their knowledge and skills 4. Hospitality 5. Advocacy The Great Generation had 98 recruited participants in March 2020. With one exception, all remained committed to participating in a project once the pandemic allowed for safe in-person work to re-commence with vulnerable communities, and in countries with challenging health care environments. ## **Achievements and performance** ## **Financial review** ## **a. FINANCIAL REVIEW** Incoming resources for in the period were £60,233. Of this, £43,112 related to project restricted activities. and £17,121 related to government grants. At 31 December 2020 total reserves were £40,786, all unrestricted funds. Project funding includes a budgeted amounts as a contribution to the core costs of The Great Generation, principally the costs of developing and managing relationships with local partners, strategic partners and organisation’s alumni community along with current participants. Current participants receive in depth briefings and the organisation maintains up to date safeguarding and, health and safety standards in order to create a safe environment for projects. In the case of local partners mentoring is a key part of our relationship in order to assist the ongoing success of what has been delivered during each project. When full project funding has been received and after payment of all other costs, these amounts are transferred from restricted reserves to unrestricted income. Certain projects are assisted by funds form reserves when insufficient funds are raised by participants to ensure commitments to local communities are met. The Trustees have agreed a policy of transferring a project surplus to unrestricted reserves in the year a project is completed. Any projects in deficit are covered by a transfer from unrestricted reserves. Page 3 **THE GREAT GENERATION (A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **b. RESERVES POLICY** The Great Generation is required to ensure that free monies are available in each financial year to meet any reasonable foreseeable contingency. In determining the level of unrestricted funds to be held, the Trustees have in mind that general funds should be maintained equal to between three and six months of normal operating expenditure. During the period under review The Great Generation was in a position to cover operating expenditure for the entire period. ## **Structure, governance and management** ## **a. CONSTITUTION** The Great Generation was incorporated as a company limited by guarantee in June 2005. The Great Generation is a registered charity and is entered in the Central Charities Register (registration number 1120349). At 31st December 200 it has 3 members and the maximum liability of each member is limited to £1. The Great Generation is governed by its Memorandum and Articles of Association dated 23 February 2007. The charity’s objects set out in the company’s Memorandum and Articles of Association are to promote any charitable purpose for: 1. The relief of financial and physical need and suffering; and - 1.1 the advancement of education; - 1.2 the promotion and protection of physical and mental health; and - 1.3 to promote volunteering to achieve any of the aforementioned objects in each case for the benefit of the public. There have been no changes in the objectives since the last annual report. ## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES** Trustees are appointed by the majority agreement of the Board of Trustees after interview by the Chief Executive. ## **c. ORGANISATIONAL STRUCTURE AND DECISION MAKING** The Great Generation is governed by the Board of Trustees who agree strategy for each year. The Chief Executive is mandated to implement strategy in line with targets and budgets. ## **d. RELATED PARTY RELATIONSHIPS** There are no related parties. Page 4 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020** ## **e. RISK MANAGEMENT** The Trustees recognise that the major risks to which the charity may be exposed need to be reviewed and systems maintained to mitigate them. To that end The Great Generation continually monitors and manages its risk and ensures mitigation plans are in place. The principal external risks relate to the local environment in which the charity operates its projects and the current economic environment. As reported in 2015, 2016, 2017 and 2018 during 2014 a critical operational risk emerged from the banking relationship with NatWest. Banking process failed to ensure paperwork related to the banking mandates was registered resulting in the freezing of the bank account. Ongoing discussions and exchange of paperwork in 2015 to obtain correct historic signatories to make changes continued to fail. In 2016 correct information was again submitted to NatWest who again failed to register the information correctly against the bank account. In March 2016 the situation was escalated to the office of the Chief Executive Officer of NatWest. The situation with the bank continued in 2017, in September 2017 NatWest finally managed to process the paperwork and as the year drew to a close the bank account was scheduled to become operational again at the opening of business in 2018. The inability to access the bank account and bank statements meant The Great Generation was unable to produce timely annual accounts and unable to meet statutory reporting to the Charity Commission as it was impossible for an independent examination to be conducted. At the beginning of 2018 the Charity Commission launched an inquiry which was closed in June after full cooperation by the Trustees. The Trustees ensured funds have been made available to uphold the integrity of public funds received and enabled the organisation to continue to meet public benefit. A compensation was lodged with Chief Executive’s Office of NatWest bank it was not resolved satisfactorily and is now the subject of an ongoing investigation by the Financial Ombudsman Service. ## **Local Environment** The Great Generation prepared a detailed risk assessment for each project guided by latest Off Site Safety Management guidelines for operating projects in developing countries. These assessments are supported by training with accredited agencies for each project leader, and in the case of school projects, approved by the local education authority. ## **Plans for future periods** ## **a. FUTURE DEVELOPMENTS** The appointment of new Trustees is an immediate priority and was completed in January 2019. The Great Generation will build its activity around school programmes, develop its Signature Projects and develop its relationships with company's HR departments for learning and development, and CR departments for alignment with the SDGs. ## **Coronavirus Pandemic** At the time of writing the global pandemic has meant all 2020 projects remain postponed. The Great Generation has been able to continue a limited amount of mentoring for local organisations and 70% of project participants remain committed to a project in the future. Our employee has been furloughed and basic administration of the organisation has been maintained. As we enter 2022 we are discussing plans for how and when in-person projects might restart. Page 5 THE GREAT GENERATION (A ¢ompany limit•d by 9uarant••) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 31 DECEM8ER 2020 TRUSTEES. RESPONSIBIUTIES STATEMENT The Trustees {wFw) are also threctors of Tre Great Generabon ￿ Ihe wposes ol o)mpany law} We iespon51ble l(* prepariThJ the Trustees. ￿￿￿rt and Ihe finanua slaleTh*nts ￿ accordarte with applKèbie law and Uniled ￿ngdoM AcccAmknrg SiandaTds Iuntsd Km9kn1 Gewaty Actepted ACCI)￿1¥)9 Pfacbcei. Company law r8wires th8 Trustees kn prepare fmrKial slatements oa¢h fJnancAI year. Und8r cL¥npany the Trv5tees musl rK¢l apwove the fmanual statements unless Ihey are thal Ihey gNe a true and 18if Trftew of the 5ts1e ol alla1￿ ol Ihe chantable c£4npany and ol Ihe incorTrng resources and appls¢ation ol fesources, In¢Judin9 tl* income and expe￿Ilture. rrf Ihe (tsrital)le wipany lor that perb>J. In ￿par￿9 these ffinanual stalemenl$. the Tru51ees are requwed lo.. selecl Surtable aGcountriig ￿lThS aTrJ Ihen aprAy I￿ c(mgstenty. prepa￿ the financial Stsiements on Ihe gcqng ccrfwn basts ￿lesS it is inapw(yiate lo wesume Ihat the chanlabie company w￿1 c(fflbnue in operatw)n. The Trustees are respOns￿le for keepin9 adequaie accounlitw records that are stsific￿l to show and explain the cthanlable company's trans*K)ns and dL%dose with reas￿able a¢curacy al any bme Ihe financial position ol the charrtatsle company and enable them to ensLKe tw Ihe finanual ststements r￿mplY wrth the Ct)mpanies Aci 2006. They a￿ also reswnsrble lor safÈguardtThJ the assets ol the th8ritable company and hence For taking rea￿a￿e Steps for PfevenI￿n aThJ dele￿￿￿ of fraLwJ and other Irrewlants In preparing Ihrs repcrft, Ihe TfUStees have takfft advantsye of the smam ccffip￿ exernptKrf￿ wovided by seciKJn 415A of ts Ctynwies Act 20t6. r8rp)rt VAS appro¥ed by Tn￿ee$. on Suzann• Gowler TrLtsteg Page 6 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREAT GENERATION (the 'company')** I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2020. This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's 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 company and the company's Trustees as a body, for my work or for this report. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the Trustees of the company (and 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 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 company's accounts 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 can confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. Page 7 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020** 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. Signed: 22/12/2021 Dated: Simon Speller FCA ## **HILLIER HOPKINS LLP** First Floor, Radius House, 51 Clarendon Road Watford Herts WD17 1HP Page 8 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020** |**Note**
**INCOME FROM:**
Donations and legacies
2
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activities
**TOTAL EXPENDITURE**
5
**NET INCOME / (EXPENDITURE) BEFORE**
**TRANSFERS**
Transfers between Funds
10
**NET EXPENDITURE BEFORE OTHER**
**RECOGNISED GAINS AND LOSSES**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Restricted**
**funds**
**2020**
**£**
**43,112**
**43,112**
**5,754**
**5,754**
**37,358**
**(37,358)**
**-**
**-**
**-**
**-**|**Unrestricte**
**d funds**
**2020**
**£**
**17,121**
**17,121**
**89,697**
**89,697**
**(72,576)**
**37,358**
**(35,218)**
**(35,218)**
**76,004**
**40,786**|**Total**
**funds**
**2020**
**£**
**60,233**
**60,233**
**95,451**
**95,451**
**(35,218)**
**-**
**(35,218)**
**(35,218)**
**76,004**
**40,786**|_Total_
_funds_
_2019_
_£_
_37,063_
_37,063_
_60,872_
_60,872_
_(23,809)_
_-_
_(23,809)_
_(23,809)_
_99,813_
_76,004_| |---|---|---|---|---| The notes on pages 11 to 19 form part of these financial statements. Page 9 THE GREAT GENERATION (A company limitod by guaranle•l REGISTEREO NUMBER. 05477652 8ALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 FIXED ASSETS Tangible assets CURRENT ASSETS Debtor5 Cash ai bank and in hand 110.SS0 60.823 36T.480 96116 171.373 463.596 CREOITORS: alr￿nts f*'r¥J d￿with one year (130.58n (387.592) NET CURRENT ASSETS 40,786 76.004 NET ASSWts 40.786 76.004 CHARITr FUNDS Unrestricled fvnts 10 40.786 76.004 TOTAL FUNDS 40,786 T6.004 The Trustees consider lI￿t lh8 ￿rnpanY is thi118d to exeMFIK￿ from tho fequitement to hayg An Hudbt under Ihe provisions of secb.on 477 01 Ihe CoMpan￿S kt Acl-l and members have nol required Ihe company to oblain an aLMJrt fix in ques￿￿ in acr￿d￿ wth s￿￿￿1478 of the Aci. th rsspe(a to acc(MJnto19 r8rAyds arrfl tr* prwraIM￿ ol [Th￿ra1 slateft*nts. The fThncial statements have teen prgpared tlre prow5ions applicatAe to small companies wilhin Part 15 01 the c￿p9A* Acl 20[6 aThJ Ai wrd*ice vnth Fww(aal Rgpw Stsndard lry Smaller Enbl*S (effeclNe Apn"I X￿8}. The finanual statements V•we approved 8NI 8LIthor￿ ty issuo by Ihè T￿￿stheS s￿ned on Ih and Suunn? Gowler The Th)tes pages 11 tr) 19 frmm p•X of these fffianual stateTh￿. Pa9e 10 **(A company limited by guarantee)** ## **THE GREAT GENERATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with 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 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Great Generation 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. ## **1.2 Company status** The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. ## **1.3 Income** All income is recognised once the company has entitlement 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 which either: the company 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 company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company 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. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 11 **(A company limited by guarantee)** ## **THE GREAT GENERATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct 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 which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company 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 conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. ## **1.5 Tangible fixed assets and depreciation** All assets costing more than £1,000 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Computer equipment - 25% straight line ## **1.6 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. Page 12 **(A company limited by guarantee)** ## **THE GREAT GENERATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **1. ACCOUNTING POLICIES (continued)** ## **1.7 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.8 Cash at Bank and in hand** Cash at bank and 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. ## **1.9 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. ## **1.10 Financial instruments** The 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 measured at amortised cost using the effective interest method. ## **1.11 Government grants** Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities incorporating income and expenditure account over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities incorporating income and expenditure account as the related expenditure is incurred. ## **1.12 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 13 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **2. INCOME FROM DONATIONS AND LEGACIES** |**Restricted**
**funds**
**2020**
**£**
Donations
**43,112**
Government grants
**-**
Total donations and legacies
**43,112**
_Total 2019_
_-_
**3.**
**DIRECT COSTS**
Project expenses
_Total 2019_
**4.**
**SUPPORT COSTS**
**Governance**
**£**
Administrative and other costs
**-**
Professional Fees
**2,650**
Wages and salaries
**-**
National insurance
**-**
Pension cost
**-**
Subtotal
**2,650**
Other support costs
**-**
**2,650**
_Total 2019_
_3,090_|**Unrestricte**
**d funds**
**2020**
**£**
**-**
**17,121**
**17,121**
_37,063_
**Activities**
**£**
**4,018**
_14,521_
**Activities**
**£**
**52,614**
**-**
**30,000**
**2,933**
**1,500**
**87,047**
**-**
**87,047**
_43,261_|**Total**
**funds**
**2020**
**£**
**43,112**
**17,121**
**60,233**
_37,063_
**Total**
**2020**
**£**
**4,018**
_14,521_
**Total**
**2020**
**£**
**52,614**
**2,650**
**30,000**
**2,933**
**1,500**
**89,697**
**-**
**89,697**
_46,351_|_Total_
_funds_
_2019_
_£_
_37,063_
_-_| |---|---|---|---| ||||| ||||| ||||_37,063_| ||||_Total_
_2019_
_£_
_14,521_| ||||_Total_
_2019_
_£_
_12,136_
_3,090_
_30,000_
_-_
_1,125_
_46,351_
_1_
_46,352_| ||||| Page 14 **(A company limited by guarantee)** ## **THE GREAT GENERATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **5. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE** |Direct costs - Activities
Expenditure on governance
_Total 2019_|**Staff costs**
**Other costs**
**2020**
**£**
**2020**
**£**
**34,433**
**58,368**
**-**
**2,650**
**34,433**
**61,018**
_31,125_
_29,747_|**Total**
**2020**
**£**
**92,801**
**2,650**
**95,451**
_60,872_|_Total_
_2019_
_£_
_57,782_
_3,090_
_60,872_| |---|---|---|---| ||||| ## **6. NET INCOME/(EXPENDITURE)** During the year, no Trustees received any remuneration (2019 - £NIL). During the year, no Trustees received any benefits in kind (2019 - £NIL). During the year, no Trustees received any reimbursement of expenses (2019 - £NIL). ## **7. TANGIBLE FIXED ASSETS** |**Cost**
At 1 January 2020 and 31 December 2020
**Depreciation**
At 1 January 2020 and 31 December 2020
**Net book value**
At 31 December 2020|**Computer**
**equipment**
**£**
**12,460**| |---|---| ||**12,460**| ||**-**| Page 15 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **8. DEBTORS** |**DEBTORS**||| |---|---|---| |Other debtors
Grants Receivable|**2020**
**£**
**102,950**
**7,600**
**110,550**|_2019_
_£_
_367,480_
_-_| |||_367,480_| ## **9. CREDITORS: Amounts falling due within one year** ||**2020**|_2019_| |---|---|---| ||**£**|_£_| |Other creditors|**130,587**|_387,592_| Page 16 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **10. STATEMENT OF FUNDS** ## **STATEMENT OF FUNDS - CURRENT YEAR** |**Unrestricted funds**
Reserves
**Restricted funds**
La Swap 2020
St. Columba's 2020
David and Mary Young
Parent Led 2020
Total of funds
**STATEMENT OF FUNDS - PRIOR YEAR**
**General funds**
Reserves
**Restricted funds**
La Swap 2019
0064 Brazil
Buikwe
David and Mary Young
Total of funds|**Balance at**
**1 January**
**2020**
**£**
**76,004**
**-**
**-**
**-**
**-**
**-**
**76,004**

_Balance at_
_1 January_
_2019_
_£_
_94,614_
_-_
_-_
_2,762_
_2,437_
_5,199_
_99,813_|**Income Expenditure**
**£**
**£**
**17,121**
**(89,697)**
**3,285**
**-**
**14,313**
**(1,325)**
**-**
**(1,736)**
**25,514**
**(2,693)**
**43,112**
**(5,754)**
**60,233**
**(95,451)**
_Income_
_Expenditure_
_£_
_£_
_750_
_(46,352)_
_15,404_
_(5,250)_
_10,974_
_(4,011)_
_9,935_
_(5,259)_
_-_
_-_
_36,313_
_(14,520)_
_37,063_
_(60,872)_|**Transfers**
**in/out**
**£**
**37,358**
**(3,285)**
**(12,988)**
**1,736**
**(22,821)**
**(37,358)**
**-**
_Transfers_
_in/out_
_£_
_26,992_
_(10,154)_
_(6,963)_
_(7,438)_
_(2,437)_
_(26,992)_
_-_|**Balance at**
**31**
**December**
**2020**
**£**
**40,786**| |---|---|---|---|---| |||||**-**
**-**
**-**
**-**
**-**| |||||**40,786**| |||||_Balance at_
_31_
_December_
_2019_
_£_
_76,004_| |||||_-_
_-_
_-_
_-_
_-_| |||||_76,004_| Page 17 ## **THE GREAT GENERATION** ## **(A company limited by guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **SUMMARY OF FUNDS - CURRENT YEAR** |**Balance at**
**1 January**
**2020**
**£**
General funds
**76,004**
Restricted funds
**-**
**76,004**
**SUMMARY OF FUNDS - PRIOR YEAR**
_Balance at_
_1 January_
_2019_
_£_
General funds
_94,614_
Restricted funds
_5,199_
_99,813_|**Income**
**£**
**17,121**
**43,112**
**60,233**
_Income_

_£_
_750_
_36,313_
_37,063_|**Expenditur**
**e**
**£**
**(89,697)**
**(5,754)**
**(95,451)**
_Expenditure_
_£_
_(46,352)_
_(14,520)_
_(60,872)_|**Transfers**
**in/out**
**£**
**37,358**
**(37,358)**
**-**
_Transfers_
_in/out_
_£_
_26,992_
_(26,992)_
_-_|**Balance at**
**31**
**December**
**2020**
**£**
**40,786**
**-**| |---|---|---|---|---| |||||| |||||| |||||**40,786**| |||||_Balance at_
_31_
_December_
_2019_
_£_
_76,004_
_-_| |||||| |||||| |||||_76,004_| Page 18 **(A company limited by guarantee)** ## **THE GREAT GENERATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020** ## **11. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR** |Current assets
Creditors due within one year
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
Current assets
Creditors due within one year||**Restricted**
**funds**
**2020**
**£**
**-**
**-**
**-**
_Restricted_
_funds_
_2019_
_£_
_-_
_-_
_-_|| |---|---|---|---| ||||| Page 19