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|||||Page|
|---|---|---|---|---|
|Reference|and Administrative||Details ofthe Charity, its Trustees and Advisers||
|Trustees'|Report|||2-8|
|Trustees'|Responsibilities
Statement||||
|Independent
Auditor's||Report|on the Financial Statements|10 - 13|
|Statement|ofFinancial|Activities||14|
|Balance Sheet||||15|
|Statement|ofCash Flows||||
|Notes to the Financial||Statements||17-34|
##
##
|Trustees|||Dr Datla Siva Kumari|Dr Datla Siva Kumari|Dr Datla Siva Kumari|(resigned|(resigned|31 March 2021)|31 March 2021)|
|---|---|---|---|---|---|---|---|---|---|
||||Sian Elizabeth|Thornhill|||(resigned||1 July 2020)|
||||Paula Margaret|Wilcock|||(resigned 3October 2020)|||
||||David Ralph Homer|||||||
||||William
Henry|Oldreive||||||
||||Olli-Pekka
Heinonen|||(appointed|||1 May 2021)|
|Company|registered|||||||||
|number|||06553433|||||||
|Charity registered||||||||||
|number|||1126291|||||||
|Registered||office|Peterson
House|||||||
||||Malthouse
Avenue|||||||
||||Cardiff Gate|||||||
||||Cardiff|||||||
||||CF23 SGL|||||||
|Independent||auditor|Mazars LLP|||||||
||||Chartered
Accountants|||||||
||||90Victoria Street|||||||
||||Bristol|||||||
||||BS16DP|||||||
|Bankers|||HSBC Bank pic|||||||
||||Cardiff|||||||
||||CF10 1LF|||||||
|Solicitors|||Withers Bergman||LLP|||||
||||16Old Bailey|||||||
||||London|||||||
||||EC4M 7EG|||||||
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2020|
||||Note|$|$|$|
|Income from:|||||||
|Charitable
activities|||4|23,114,026|23,114,026|20,888,040|
|Other income|||5|||26,800|
|Total income||||23,114,026|23,114,026|20,914,840|
|Expenditure
on:|||||||
|Charitable
activities||||21,992,353|21,992,353|20,831,364|
|Other expenditure||||43,302|43,302|43,815|
|Total expenditure||||22,035,655|22,035,655|20,875,179|
|Net income before|net gains/(losses)|on|||||
|investments||||1,078,371|1,078,371|39,661|
|Net gains/(losses)|on investments|||322,616|322,616|(264,271)|
|Net movement
in funds||||1,400,987|1,400,987|(224,610)|
|Reconciliation
offunds:|||||||
|Total funds brought|forward|||24,669,288|24,669,288|24,893,898|
|Net movement
in funds||||1,400,987|1,400,987|(224,610)|
|Total funds carried|forward|||26,070,275|26,070,275|24,669,288|
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|||||Note||$||$|
|Fixed assets|||||||||
|Intangible
assets||||13||||1,640|
|Tangible assets||||14||4,675,854||6,019,938|
|Investments||||15||||1,613|
|||||||4,675,854||6,023,191|
|Current assets|||||||||
|Debtors||||16|775,916||20,300,117||
|Cash at bank and|in|hand|||62,246,923||2,340,976||
||||||63,022,839||22,641,093||
|Creditors;
amounts|falling||due within one||||||
|year||||17|(38,821,530)||(1,208,917)||
|Net current assets||||||24,201,309||21,432,176|
|Total assets less current|||liabilities|||28,877,163||27,455,367|
|Creditors: amounts|falling||due after more||||||
|than one year||||18||(1,651,858)||(1,898,250)|
|Provisions
for liabilities||||||(1,1 55,030)||(887,829)|
|Net assets excluding||pension asset||||26,070,275||24,669,288|
|Total net assets||||||26,070,275||24,669,288|
|Charity funds|||||||||
|Restricted
funds||||21|||||
|Unrestricted
funds||||21||26,070,275||24,669,288|
|Total funds||||||26,070,275||24,669,288|
##
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|||||2021|2020|
|---|---|---|---|---|---|
|||||$|$|
|Cash flows from operating|activities|||||
|Net cash used
in operating|activities|||60,599,816|829,700|
|Cash flows from investing|activities|||||
|Purchase
of intangible
assets||||(46)||
|Purchase
oftangible
fixed|assets|||(695,436)|(536,569)|
|Disposal of investments||||1,613||
|Net cash used
in investing|activities|||(693,869)|(536,569)|
|Cash flows from financing|activities|||||
|Net cash provided
by financing
activities||||||
|Change
in cash and cash equivalents||in the year||59,905,947|293,131|
|Cash and cash equivalents|at the beginning||ofthe year|2,340,976|2,047,845|
|Cash and cash equivalents|at the end|ofthe year||62,246,923|2,340,976|
|The notes on pages 17to 34 form part ofthese financial statements||||||
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||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2021|2021|
||$|$|
|Assessment|23,114,026|23,114,026|
||Unrestricted|Total|
||funds|funds|
||2020|2020|
||$|$|
|Assessment|20,888,040|20,888,040|
##
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|||||||Total|
|---|---|---|---|---|---|---|
|||||||funds|
|||||||2021|
|||||||$|
||Intercompany
loan||interest||||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2020|2020|
||||||$|$|
||Intercompany
loan||interest||26,800|26,800|
|6.|Charitable
Activities||||||
||||||Total|Total|
||||||2021|2020|
||||||$|$|
||Office communications,|||IT &other supplies|1,387,551|1,364,739|
||Realised exchange||losses/(gains)||32,742|41,374|
||Loss on disposal of||fixed|assets||40|
||Other||||562,927|667,689|
||Other staff|costs|||126,919|248,729|
||Temporary|staff/contractors||||142,234|
||Wages and|salaries|||15,144,785|12,617,951|
||Depreciation||||714,059|772,109|
||Support costs (note||7)||3,970,543|4,930,718|
||Governance|costs (note||8)|52 827|45 781|
||Total||||21,992,353|70,831,364|
##
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|7.|Support|cos|ts|||
|---|---|---|---|---|---|
|||||2021|2020|
|||||$|$|
||Management|||603,236|469,229|
||Finance|||181,026|164,028|
||Human|Resources||124,557|186,784|
||information||Technology|1,233,637|1,122,806|
||Facilities|||1,828,087|2,987,871|
|||||3,970,543|4,930,718|
|8.|Governance||costs|||
|||||2021|2020|
|||||$|$|
||Auditors'|remuneration||52,827|45,781|
|||||52,827|45,781|
|9.|Other expenditure|||||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2021|2021|
|||||$|$|
||Bank charges and interest|||43,302|43,302|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||$|$|
||Bank charges and interest|||43,815|43,815|
##
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|10.|Auditor's
remuneration|Auditor's
remuneration||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|||||||||$|$|
||Fees payable|to the Charity's||auditor||and its associates|for the audit ofthe|||
||Charity's
annual
accounts|||||||28,670|29,703|
||Fees payable|to the Charity's||auditor||and its associates|in respect of:|||
||The auditing|ofaccounts of||associates ofthe Charity||||24,157|24,107|
||All assurance|services|not included|||above||6,895|6,895|
|11.|Staff costs|||||||||
|||||||||2021|2020|
|||||||||$|$|
||Wages and salaries|||||||14,009,323|12,007,508|
||Social security costs|||||||1,345,975|1,200,215|
||Contribution|to defined|contribution||pension schemes|||1,016,533|934,108|
|||||||||16,371,831|14,141,831|
##
|2021|2020|
|---|---|
|No.|No.|
|283|258|
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|2021|2020|
|---|---|
|No.|No.|
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|Intangible
assets||
|---|---|
||Computer|
||software|
||$|
|Cost||
|At 1 July 2020|139,780|
|Additions|46|
|Disposals|(110,271)|
|At 30June 2021|29,555|
|Amortisation||
|At 1 July 2020|138,140|
|Charge for the year|1,686|
|On disposals|(110,271)|
|At 30June 2021|29,555|
|Net book value||
|At 30June 2021||
|At 30June 2020|1,640|
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||Long-term|||
|---|---|---|---|
||leasehold|Fixtures and||
||property|fittings|Total|
||$|$|$|
|Cost or valuation||||
|At1 July2020|13,363,020|5,737,924|19,100,944|
|Additions||695,436|695,436|
|Disposals||(1,658,565)|(1,658,565)|
|At 30June 2021|13,363,020|4,774,795|18,137,815|
|Depreciation||||
|At 1 July 2020|8,167,526|4,913,480|13,081,006|
|Charge for the year|1,417,028|485,229|1,902,257|
|On disposals||(1,521,302)|(1,521,302)|
|At 30June 2021|9,584,554|3,877,407|13,461,961|
|Net book value||||
|At 30June 2021|3,778,466|897,388|4,675,854|
|At 30June 2020|5,195,494|824,444|6,019,938|
##
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||Investments|
|---|---|
||in|
||subsidiary|
||companies|
||$|
|At 1 July 2020|1,613|
|Disposals|(1,613)|
|At 30June 2021||
|Net book value||
|At 30June 2021||
|At 30June 2020|1,613|
##
||||2021|2020|
|---|---|---|---|---|
||||$|$|
|Due within|one year||||
|Amounts|owed by group undertakings|||19,933,688|
|Other debtors|||48,552|4,672|
|Prepayments||and accrued income|727,364|361,757|
||||775,916|20,300,117|
##
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||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||$|$|
|Trade creditors|||||||||350,636|33,234|
|Amounts||owed||to|group undertakings||||37,299,929|114,656|
|Other taxation||||and|social security||||7,659|136,840|
|Accruals||and deferred||||income|||1,163,306|924,187|
||||||||||38,821,530|1,208,917|
|reditors:||Amounts|||falling due after more|||than one year|||
||||||||||2021|2020|
||||||||||$|$|
|Amounts||owed||to group undertakings|||||1,215,291|1,199,743|
|Other creditors|||||||||436,567|698,507|
||||||||||1,651,858|1,898,250|
|he aggregate|||amount|||of liabilities|payable|or repayable|wholly or in part more than
five|years after the|
|porting|date is:||||||||||
||||||||||2021|2020|
||||||||||$|$|
|Repayable||by|instalments||||||643,528|706,678|
||||||||||643,528|706,678|
##
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||Provision|
|---|---|
|At 1 July 2020|887,829|
|Additions|267,201|
||1,155,030|
##
|2021|2020|
|---|---|
|$|$|
##
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|Statement|o|ffunds - curr|ent year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Gains/|30 June|
||||July 2020|Income|Expenditure|(Losses)|2021|
||||$|$|$|$|$|
|Unrestricted||funds||||||
|General|Fund||24,669,288|23,114,026|(22,035,655)|322,616|26,070,275|
||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at|||Gains/|30June|
||||1 July 2019|Income|Expenditure|(Losses)|2020|
||||$|$|$|$|$|
|Unrestricted||funds||||||
|General|Fund||24,893,898|20,914,840|(20,875,179)|(264,271)|24,669,288|
##
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|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2021|2021|
|||||$|$|
|Tangible|fixed assets|||4,675,854|4,675,854|
|Current assets||||63,022,839|63,022,839|
|Creditors|due within one year|||(39,258,097)|(39,258,097)|
|Creditors|due in more than one year|||(1,215,291)|(1,215,291)|
|Provisions|for liabilities|and charges||(1,155,030)|(1,155,030)|
|||||26,070,275|26,070,275|
|nalysis
of net assets between|||funds - prior period|||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2020|2020|
|||||$|$|
|Tangible|fixed assets|||6,019,938|6,019,938|
|Intangible|fixed assets|||1,640|1,640|
|Fixed asset investments||||1,613|1,613|
|Current assets||||22,641,093|22,641,093|
|Creditors|due within one year|||(1,208,917)|(1,208,917)|
|Creditors|due in more than one year|||(1,898,250)|(1,898,250)|
|Provisions|for liabilities|and charges||(887,829)|(887,829)|
|||||24,669,288|24,669,288|
##
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||||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||$|$|
||Net
income/expenditure||for|the|year|(as|per|Statement|of|Financial|||
||Activities)||||||||||1,400,987|(224,610)|
||Adjustments
for:||||||||||||
||Depreciation
charges||||||||||1,902,257|1,819,428|
||Amortisation
charges||||||||||1,686|11,568|
||Loss on the sale offixed||assets||||||||137,263|60|
||Decrease/(increase)|in debtors|||||||||19,524,201|(441,072)|
||Increase/(decrease)|in creditors|||||||||37,366,221|(453,416)|
||Increase
in provisions||||||||||267,201|117,742|
||Net cash provided
by operating||||activities||||||60,599,816|829,700|
|24.|Analysis ofcash and|cash equivalents|||||||||||
||||||||||||2021|2020|
||||||||||||$|$|
||Cash
in hand||||||||||62,246,923|2,340,976|
||Total cash and cash equivalents||||||||||62,246,923|2,340,976|
|25.|Analysis ofchanges|in net debt|||||||||||
|||||||||||At1 July||At 30June|
|||||||||||2020|Cash flows|2021|
||||||||||||$|$|
||Cash at bank and
in|hand|||||||2,340,976||59,905,947|62,246,923|
|26.|Contingent
liabilities||||||||||||
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|Operating
lease com|Operating
lease com|Operating
lease com|mitments||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|At 30 June 2021 the|||Charity|had|commitments|to make|future|minimum|lease payments|under
non-|
|cancellable|operating||leases as follows:||||||||
||||||||||2021|2020|
||||||||||$|$|
|Land and|buildings||amounts|payable:|||||||
|Within
1|year||||||||1,042,630|927,974|
|Between|1 and|5 years|||||||1,737,717|2,474,597|
||||||||||2,780,347|3,402,571|
||||||||||2021|2020|
||||||||||$|$|
|Other amounts||payable:|||||||||
|Within
1|year||||||||482,331|617,480|
|Between|1 and|5 years|||||||200,646|633,613|
||||||||||682,977|1,251,093|
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