Charity Registration No. 1127093
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | K Howard - Chair (Deceased 12 August 2021) |
|---|---|
| K Fojt | |
| P Meredith | |
| MC Fojt |
|
| M Hasyn | |
| E Tregenza | |
| Secretary | S Halt |
| Charity number | 1127093 |
| Principal office | Howard House |
| Dowley Gap Business Park | |
| Dowley Gap Lane | |
| Bingley | |
| BD16 1WA | |
| Auditor | RSM UKAudit LLP |
| Chartered Accountants | |
| St Olaf's Halt | |
| Church Road | |
| Lerwick | |
| Shetland isles | |
| ZE1 OFD | |
| Bankers | Barclay's Bank Plc |
| 10 Market Street | |
| Bradford | |
| BD1 iNR | |
| Solicitors | Progeny |
| 1A Tower Square | |
| Leeds | |
| LS14DL |
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report and financial statements for the year ended 31 December 2020.
The trustees present their annual report and financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
Objectives and activities
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Charity's Commission's general guidance on public benefit "Charities and Public Benefit". The Trustees’ Report clearly sets out the charitable objectives our current activities and how they benefit the public.
The main objectives of the trust are the promotion of:
« the performing arts;
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animal welfare,
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sport - The Yorkshire Cricket Foundation and Leeds Rugby Foundation in particular, and « children's lifestyle.
The trust carries out these objectives through the provision of grants to charities which fall within the criteria above.
Grant making policy
The trust invites applications for grants through the trustees’ contacts and word of mouth. Details of how to apply for grants are available on the charity's website.
Achievements and performance
In the year, the trust has made grants totalling £1,429,500 (2019° £2,231 ,332)
Principal risks and uncertainties
The trustees consider there to be no significant risks or uncertainties to the charity.
Financial review
The trust is reliant on the income from Emerald Group Holdings Limited, the income from which was £1,200,000 (2019: £1,800,000) during the year. The trustees have reviewed the current situation relating to the coronavirus pandemic and its effect on the ability of the trust to continue. Taking account ofthe availability of working capital, the trustees have concluded that the trust will be able to continue to meet its financial obligations as they fall due for at least twelve months from the date of approval of these financial statements. Consequently, these financial statements have been prepared on the basis that the trust is a going concern.
The total expenditure in the year was £1,439.040 (2019: £2,236,475) of which £1,429,500 relates to donations paid during the year and donations committed to be paid at the year end. As a result the deficit in charity funds increased to £1,020.973 (2019. £781,933).
Reserves policy
The trustees aim to pay out the majority of incoming resources in charitable grants. The trustees will ensure there are sufficient funds available to cover the support and governance costs annually. This will leave minimal levels of reserves to carry forward
The actual level of reserves at 31 December 2020 was a deficit of £1.020,973 (2019: £781,933). The trust has negative reserves due to the commitment of multi-year grants by the trust in the prior years. As a result, these grants were recognised in the Statement of Financial Activities immediately, thereby resulting in a large deficit.
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THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Investment policy and performance
Any surplus funds held by the charity are invested in a deposit account. The trustees aim to spend the majonty of the annual income
Future plans
Covid-19 has had a significant impact on the funding of the Foundation in 2020. The Trustees have written to all beneficiaries outlining that while committed to providing assistance, this will not be to the same extent as originally anticipated due to a reduction in funding. As such payments to beneficiaries will be in line with the reduced funding received
The trustees also confirm their ongoing commitment to provide future support to Opera North and The Northern Ballet in future years
Structure, governance and management
The trust is an unincorporated trust, constituted under a Trust Deed dated 7 December 2018 and is a registered charity, number 1127093. The trust was established by an initial donation from K Howard and subsequent donations from Emerald Group Holdings Limited. The trust does not actively fundraise and seeks to continue the philanthropic work desired by the donor through the careful stewardship of its existing resources
The original trustees were appointed by the Deed and serve five years after which period they may put themselves forward for reappointment. The Trust Deed provides for a minimum of three trustees, to a maximum of six trustees.
At the biannual trustees’ meeting, the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investment, reserves and risk management policies ard peifuridiive. The day to day administration of grants and the processing and handling of applications prior to consideration by the trustees is delegated to the Chairman and the Secretary.
The Board keeps the skill requirements for the Trustee Body under review and in the event that a trustee permanently retires or additional new trustees are required. the Board will set up a Nominations Sub Committee to recruit the new trustee. New trustees may be sought by open advertisement or through a dialogue with major grant recipients. The ultimate decision on selection is, however, a matter of the Board of Trustees.
The introduction process for any newly-appointed trustee will comprise an initial meeting with the Chair and the Board, followed by a series of short meetings on investments, the grant making process, powers and responsibilities of the trustee board.
Key management personel remuneration
The trustees consider the board of trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year.
The trustees’ report was approved by tne Board of Trustees.
(Yor Go AMereetttt
Peter Meredith Trustee (8 {3 / 7a 22 Dated oe.
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THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Jaw applicable to charities in England and Wales 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 incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the trustees are required to.
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select suitable accounting policies and then apply them consistently:
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observe the methods and principles in the Charities SORP:
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make judgements and estimates that are reasonable and prudent,
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
Opinion
We have audited the financial statements of The Keith Howard Foundation (formerly The Emerald Foundation) (the ‘charity’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice)
In our opinion the financial statements
-
give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of Its incoming resources and application of resources, for the year then ended, - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and
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have been prepared in accordance with the requirements of the Charities Act 2011
Basis for opinion
We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion
Conclusions relating to going concern
li auditing the financial statements, we have concluded that the trustees’ use of the going concem basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report
Other information
ihe other information comprises the information included in the Trustees Report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained withia the Truslees Report. Our opinion on the financial statements doee not cover the other information and we do not express any form of assurance conclusion thereon
Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on thle work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION) (CONTINUED)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion.
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the information given in the financial statements Is inconsistent in any material respect with the Trustees’ Report, or
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3 sufficient accounting records have not been kept: or - the financial statements are not in agreement with the accounting records and returns, or - we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ responsibilities set out on page 3, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error
In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected noncompliance with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:
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obtained an understanding of the nature of the sector, including the lega! and regulatory framework, that the charity operates in and how the charity is complying with the legal and regulatory framework:
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- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud,
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- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION) (CONTINUED)
As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the charity's governing document.and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents
The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant. unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates
A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council's website al litty //www_frc.org uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity's trustees as a body. in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and its trustees as a body. for our audit work, for this report, or for the opinions we have formed
Born ve AbAckk WF
RSM UK Audit LLP
Statutory Auditor Chartered Accountants St Olaf's Hall Church Road Lerwick Shetland Isles, ZE1 OFD
RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
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THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
| Total | Total | ||
|---|---|---|---|
| unrestricted unrestricted | |||
| funds | funds | ||
| 2020 | 2019 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 1.200,000 | 1,800,000 | |
| Expenditure on: | |||
| Charitable activities | 2 | 1439040 | 2,236,475 |
| Net expenditure for the year/ | |||
| Net movement in funds | (239,040) | (436,475) | |
| Total funds brought forward | (781,933) | (345,458) | |
| Totalfundscarriedforward | 9 | (1,020,973) | (781,933) |
The statement of financial activities includes all gains and losses recognised in the year
All income and expenditure derive from continuing activities.
Bin
Charity Registration No. 1127093
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
BALANCE SHEET
AS AT 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Cash at bank and in hand | 5 227 | 29 387 | |||
| Creditors: amounts falling due within | 7 | ||||
| one year | (788,200) | (395,320) | |||
| Net current liabilities | (782,973) | (365,933) | |||
| Creditors: amounts falling due after | 8 | ||||
| more than one year | (238,000) | (416,000) | |||
| Net liabilities | (1,020,973) | (781,933) | |||
| Income funds | |||||
| Unrestricted funds | 9 | (1,020,973) | (781 933) | ||
| (1,020,973) | (781,933) |
The financial statements on pages 6 to 15 were approved by the Trustees on ts/3[2o22-
Y) . fue G ANereatth Peter Meredith Trustee
=e
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Net cash used in operating activities: | |||
| Net cash provided by/(used in) operating | 10 | ||
| activities | (24,160) | 28,325 | |
| Net (decrease)/increase in cash and cash | |||
| equivalents | (24,160) | 28,325 | |
| Cash and cash equivalents at beginning of year | 29,387 | 1,062 | |
| Cashandcashequivalentsatendofyear | §,227 | 29,387 |
<9) -
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies
Charity information
The Keith Howard Foundation (formerly The Emerald Foundation) is an unincorporated trust, constituted under a Trust Deed dated 7 December 2018 and is a registered charity in England and Wales, number 1127093. The principal office of the charity is Howard House, Dowley Gap Business Park, Dowley Gap Lane. Bingley, BD16 1WA. The principal activity of the trust is included in the Trustees’ report on page 1
Accounting convention
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011
The Keith Howard Foundation (formerly The Emerald Foundation) meets the definition of a public benefit entity under FRS 102. The charity exists for the benefit through the provision of grants to promote performing arts. animal welfare. children’s lifestyle and sport, in particular the Yorkshire Cricket Foundation and Leeds Rugby Foundation, which are detailed in the charity's objectives and activities. The financial statements are prepared tn Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £
Going concern
{he Board of Irustees has considered the performance and positlon of the charity as set out on pages 6 and 7. The charity's funds are in deficit of £1,020.973 (2019: £781,933) which is mainly due to budgets being agreed and notified to recipients prior to the year end The charity relies on the funding from the Emerald Group Holdings Limited, a company in which P Meredith and M Foyt are directors. The Board have a reasonable expectation that adequate resources will continue to be available to allow the charity to continue in operational existence for the 12 months beyond the date of approving the financial statements. Further funding has been received post year end and although this is reduced from the initial budyets it is in line with initial commitments. The payments made to future beneficiaries, who have been notified, have also been reduced, so that the Foundation will continue to operate within the funds available. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements
Charitable funds
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in the furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
Incoming resources
Income is recognised once the charity has entitlement to the resources, itis probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability
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THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
1 Accounting policies (Continued)
Resources expended
Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of obligation can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under heading that aggregate all costs related to the category.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the trust.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for what it was incurred.
Charitable activities
Costs of charitable activities include grants made and governance costs incurred.
ae.
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 341 DECEMBER 2020
4 Accounting policies (Continued)
Governance costs
Governance costs comprise all costs tnvolving the public accountability of the charity and tts compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with overhead and support costs
2 Charitable activities
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Performing arts (see note 3) | 832,000 | 1,660,332 | |
| Sport (see note 3) | 250,000 | 361,000 | |
| Animals (see note 3) | 347 500 | 210,000 | |
| 1,429,500 | 2,231,332 | ||
| Share of governance costs (see note 4) | 9,540 | 5,143 | |
| 1,439,040 | 2,236,475 | ||
| 3 | Grants payable | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Alive & Kicking | : | 3,097 | |
| Awards for Young Musicians | - | 5,000 | |
| Bentham Pet Rescue | 3,000 | - | |
| Rig Issite - Social Fnterprise Agency |
- | 15 000 | |
| Bingley Little Theatre | 2,000 | 2,000 | |
| Bradford Bulls Foundation | = | 5000 | |
| Bradford Cathedral | - | 12,500 | |
| Bradford Choral Society | - | 6,000 | |
| Bradford City of Culture | 20,000 | - | |
| Bradford Grammar School | 75,000 | 35,000 | |
| Bradford Literature Festival | 410,000 | - | |
| Caring for Life | - | 2,000 | |
| Centrepoint | - | 15.000 | |
| Far PlaceAnimal Rescue | 5,000 | 5,000 | |
| Geraldine Connor Foundation | 20,000 | - | |
| Guide Dogs Puppy Centre Appeal | 5,000 | 5,000 | |
| Hope Pastures | 8,000 | - | |
| Howard Assembly Room | 100,000 | e | |
| Huddersfield Choral Society | - | 2,500 | |
| Kala Sangam | 5,000 | 5,000 | |
| Leeds Cathedral School | - | 5,000 | |
| LeedsCricket&FootballHospitalityRelaysAssociation | - | 16,000 |
-~WZe
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
| 3 | Grants payable (Continued) | ||
|---|---|---|---|
| Leeds Grammar School | 25,000 | - | |
| Leeds Hockey Club | (10,000) | 10,000 | |
| Leeds International Piano Competition | 35,200 | 29,600 | |
| Leeds Lieder | - | 2,000 | |
| Leeds Playhouse | (20,000) | 240,000 | |
| Leeds Rugby Foundation | 150,000 | 150.000 | |
| Leeds Vocal Movement | - | 1,000 | |
| Leeds Youth Opera | - | 6,000 | |
| Left Bank | 5,000 | 5,000 | |
| Live Music Now | - | 5,000 | |
| Moorview Rescue | 15,000 | 15,000 | |
| National Literacy Trust | 2,100 | - | |
| Northern Ballet | 275,000 | 300,000 | |
| Northern Opera Group | 2,500 | 2,500 | |
| Northern Youth Theatre Company | - | 2,000 | |
| One in a Million | 2,100 | - | |
| Opera North | 300,000 | 600,000 | |
| Phoenix Dance Theatre | - | 12,500 | |
| Phyllis Harvey Horse & Donkey Trust | - | 5,000 | |
| Reading Culture ClO | - | 10,000 | |
| Saltburn Animal Rescue | - | 15,000 | |
| SARA | 18,500 | - | |
| Simon on the Streets | 10,000 | - | |
| Social Enterprise | 2,100 | - | |
| Tenerife Animals | - | 5,000 | |
| The Grand Futures (Grand Theatre) | (39,000) | 249,000 | |
| TIA Greyhound and Lurcher Rescue | 15,000 | 15,000 | |
| University of Bradford | - | 52,635 | |
| University of Leeds | - | 50,000 | |
| West Yorkshire Animals in Needs | 20,000 | 10,000 | |
| Whitehall Dog Rescue | 240,000 | 120,000 | |
| Yorkshire Animal Shelter | 5,000 | 5,000 | |
| Yorkshire Carnegie | - | 15,000 | |
| Yorkshire Cat Rescue | 13,000 | 10,000 | |
| Yorkshire Cricket Foundation | 110,000 | 150,000 | |
| 1,429,500 | 2,231,332 |
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
4 Governance costs
| Governance costs | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Audit fees | 7,600 | 3,120 |
| Accountancy | 1,400 | 1,200 |
| Legal and professional | 540 | 798 |
| Bank charges | - | 25 |
| 9,540 | 5,143 | |
| Analysed between | ||
| Charitableactivities | 9,540 | 5.143 |
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year
6 Employees
There were no empioyees during the year
7 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Grant creditors | 778,000 | 389,800 |
| Accruals and deferred income | 10,200 | 5,520 |
| 788,200 | 395 320 | |
| Creditors: amounts falling due after more than one year | ||
| 2020 | 2019 | |
| £ | £ | |
| Grantcreditors | 238,000 | 416,000 |
8 Creditors: amounts falling due after more than one year
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THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
- 9 Movement in funds
| Balance at 1 | Incoming | Resources Balance at 31 |
Resources Balance at 31 |
||
|---|---|---|---|---|---|
| January 2020 | resources | expended December 2020 |
|||
| £ | £ | £ | £ | ||
| Unrestricted funds | (781,933) | 1,200,000 | (1,439,040) | (1,020,973) | |
| (781,933) | 1,200,000 | (1,439,040) | (1,020,973) | ||
| Balance at 1 | Incoming | Resources Balance at 31 |
|||
| January 2019 | resources | expended December 2019 |
|||
| £ | £ | £ | £ | ||
| Unrestricted funds | (345,458) | 1,800,000 | (2,236,475) | (781,933) | |
| (345,458) | 1,800,000 | (2,236,475) | (781,933) | ||
| 10 | Cash generated from operations | 2020 | 2019 | ||
| £ | £ | ||||
| Deficit for the year | (239,040) | (436,475) | |||
| Movements in working capital. | |||||
| Increase in creditors | 214,880 | 464 800 | |||
| Cash(absorbedby)/generatedfromoperations | (24,160) | 28,325 |
a 15's
THE KEITH HOWARD FOUNDATION (FORMERLY THE EMERALD FOUNDATION)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
11.‘ Related party transactions
During the year the trust received income totalling £1,200 000 (2019 £1.800,000) from Emerald Group Holdings Limited, a company tn which P Meredith and M Fojt are directors
K Fojt ts a trustee of Whitehall Dog Rescue. Grants totalling £240,000 (2019. £120,000) were made during the year.
M Fojt ts a director of Life Education (Bradford) Limited Grants totalling Enil (2019 Fnil) were made during the year Included within creditors due within one year is £30,000 (2019. £30,000) shown in grant creditors and included within creditors due in more than one year is £nil (2019 £30,000) shown in grant creditors which are due to Life Education (Bradford) Limited.
The trustees believe there are no other related party transactions to disclose
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