Charity Registration No. 1127577 Company Registration No. 06527979 (England and Wales)
## SAFER ROADS FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
## ‘RickardLuckin
## SAFER ROADS FOUNDATION
## LEGAL AND ADMINISTRATIVE INFORMATION
|Trustees|Michael Woodford MBE|||
|---|---|---|---|
||Anunciacion Somavilla|||
||Stuart Greengrass|||
||Michael Thwaites|(Appointed|7 December2020)|
|Charity number|4127577|||
|Company number|06527979|||
|Registered office|10 Queen Street Place|||
||London|||
||EC4R 1BE|||
|Independent examiner|Rickard Luckin Limited|||
||Phoenix House, Suite 8|||
||Christopher Martin Road|||
||Basildon|||
||Essex|||
||$$14 3EZ|||
|Bankers|Metro Bank (Southend)|||
||Victoria Business Centre|||
||G19-G21 The 2NG|||
||208 London Road|||
||Southend-on-Sea|||
||Essex|||
||SS1 1PJ|||
||Barclays Bank Pic|||
||4 Churchill Place|||
||London|||
||E14 5HP|||
|Solicitors|BatesWells|||
||10 Queen Street Place|||
||London|||
||EC4R 1BE|||
|Website|http:/Awww.saferroadsfoundation.org/|||
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## SAFER ROADS FOUNDATION
## CONTENTS
||Page|
|---|---|
|Trustees’ Report|1-3|
|Independent examiner's report|4-5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Statement of cash flows|8|
|NotestotheFinancialStatements|9-14|
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## SAFER ROADS FOUNDATION TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT)
## FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019)".
## Objectives and activities
The Charity's objectives are:
## The implementation of engineering and other measures to improve safety on the highway.
To work with supranational, national, regional authorities and commercial organisations in the development of design standards affecting safety of the road users.
To increase public awareness of the issues affecting safety on the roads with the aim of changing attitudes through education, promotion and campaigning with other individuais and organisations with similar objectives.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## Achievements and performance
During the year, the Charity supported various accident prevention initiatives covering many countries around the world, including Thailand, India, Tajikistan and Kyrgyzstan. The Charity continues to provide grants and assist the work of the European Transport Safety Council (ETSC) and the Parliamentary Advisory Council for Transport Safety (PACTS).
The Charity has continued to develop working relationships with the Vietnamese and Chinese authorities to bring about the early introduction of the lifesaving feature of ‘Automatic Headlights On’ (AHO) for powered two-wheelers. Additionally, the Charity has collaborated with its partners in Thailand to introduce ‘Automatic Braking System’ (ABS) for powered two-wheelers which significantly reduces casualty rates, and is working closely with Global NCAP/the Towards Zero Foundation to introduce ABS in the ASEAN (Association of South East Asian Nations) countries.
In following the Charity Commission’s guidance and to achieve the highest levels of good governance, the trustees continue to strictly adhere to their Grant Making, Expenses and Conflicts of Interest policies. A comprehensive Memorandum of Understanding (MoU) is a prerequisite for each grant awarded by the Safer Roads Foundation.
The effects of the worldwide Covid-19 pandemic during the year, led to a significant shut-down of both social and economic activity in the UK and in many other countries around the globe. However, the trustees can report positively that several major projects proceeded and were completed during the Charity’s financial year.
Travelling in person to visit the projects funded by the Charity was impossible due to the restrictions on international travel, but video conferencing and the extensive use of photographic and video material has allowed the trustees to effectively manage and monitor the schemes, together with an ongoing scrutiny of the results achieved.
It is difficult to determine what the long-term impact of the pandemic will be on future charity activities, but no adjustment is required in respect of the Charity's financial statements for the year ended 31 March 2021.
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## SAFER ROADS FOUNDATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## Financial review
During the year, the Charity received donations of £629,753 (2020 - £52,688) from various donors and incurred expenditure of £1,150,533 (2020 - £206,039) on charitable activities. Overall, the reserves of the Charity decreased by £361,309 and at the year-end amounted to £1,236,747 (2020 - £1,598,056).
## Reserves Policy
it is the policy of the trustees to maintain reserves in the Charity at a level to enable it to be administered efficiently, to meet its short-term expenditure requirements and to have adequate resources to fund its charitable objectives. in establishing this policy the trustees have considered the disposition of its incoming resources which are mainly derived from donations. The level of reserves is subject to periodic review when considering changes to the Charity's activities and requirements.
it is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to a minimum of three month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. At the year end, the reserves of the Charity were £1,236,747.
## Risk Factors
Due to the nature of the Trust's expenditure and management of reserves, the trustees do not consider risk to be an element in the presentation of this report. Reserves are held in accounts and bonds with Metro Bank and Barclays Bank.
The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## Plans for future periods
The Charity's plans for future periods are that of continuing with the current objectives and activities as described above.
## Structure, governance and management
The Charity is a company limited by guarantee incorporated on 7 March 2008 and is governed by its Memorandum and Articles of Association. The Memorandum and Articles of Association were amended by special resolution on 19 December 2008 and subsequently on 19 September 2012 and 11 February 2019. The Charity was registered with the Charities Commission on 19 January 2009 with registration number 1127577.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Michael Woodford MBE Anunciacion Somavilla Stuart Greengrass Michael Thwaites (Appointed 7 December 2020)
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## SAFER ROADS FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## Trustee selection method
New trustees are appointed by the Board of Trustees.
All new trustees will be provided with an induction pack which includes the constitution of the Charity and guidelines on how to perform their duties as trustee. Further training will be given as and when necessary
The Trustees’ Report was approved by the Board of Trustees.
> TrusteeDated: anak : re)—\ “ “CS CC \
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## SAFER ROADS FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAFER ROADS FOUNDATION
| report to the trustees on my examination of the financial statements of Safer Roads Foundation (the Charity) for the year ended 31 March 2021.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that | might state to the charity's trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions | have formed.
## Responsibilities and basis of report
As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
—
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, |! report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | have followed ail the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently | express no opinion as to whether the financial statements present a ‘true and fair view and my report is limited to those specific matters set out in the independent examiner's statement.
## Independent examiner's statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ICAEW, which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 4 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 _ the financial statements do not accord with those records; or
3. the financial statements 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102).
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## SAFER ROADS FOUNDATION
## INDEPENDENT EXAMINER'S REPORT (CONTINUED)
## TO THE TRUSTEES OF SAFER ROADS FOUNDATION
| 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 financial statements to be reached.
Rickard Luckin Limited
Phoenix House, Suite 8 Christopher Martin Road Basildon Essex $S14 3EZ
Dated: © Q OW Zan
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## SAFER ROADS FOUNDATION
## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
## FOR THE YEAR ENDED 31 MARCH 2021
|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2021|2020|
||Notes|£|£|
|Income from:||||
|Donations and legacies|3|787,191|65,235|
|Investments|4|2,390|17,883|
|Total income||789,581|83,118|
|Expenditure on:||||
|Charitable activities|5|1,150,533|206,039|
|Net expenditure forthe year/||||
|Net outgoing resources||(360,952)|(122,921)|
|Other recognised gains and losses||||
|Othergains or losses|11|(357)|121|
|Net movement in funds||(361,309)|(122,800)|
|Fund balances at 1 April2020||1,598,056|1,720,856|
|Fundbalancesat31March2021||1,236,747|1,598,056|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## SAFER ROADS FOUNDATION
## BALANCE SHEET
## AS AT 31 MARCH 2021
|||2021||2020||
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Current assets||||||
|Debtors|12|10,410||9,459||
|Cash at bank and in hand||1,230,902||1,597,128||
|||1,241,312||1,606,587||
|Creditors: amounts falling due within||||||
|one year|13|(4,565)||(8,531)||
|Net current assets|||1,236,747||1,598,056|
|Income funds||||||
|Unrestricted funds|||1,236,747||1,598,056|
||||1,236,747||1,598,056|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustee on) ht* Oclebeka) pons DOL f } * f “Michael Woodford MBE tuanel Trustee Trustees.
## Company Registration No. 06527979
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## SAFER ROADS FOUNDATION
## STATEMENT OF CASH FLOWS
## FOR THE YEAR ENDED 31 MARCH 2021
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2021|2020|
|Notes|£|£|£|£|
|Cash|flows|from|operating|activities|
|Cash|absorbed|by|operations|15|(368,616)|(176,670)|
|Investing|activities|
|Interest|received|2,390|17,883|
|Net|cash|generated|from|investing|
|activities|2,390|17,883|
|Net cash|used|in|financing|activities|-|-|
|Net decrease|in|cash|and|cash|equivalents|(366,226)|(158,787)|
|Cash|and|cash|equivalents|at|beginning|of year|1,597,128|1,755,915|
|Cash|and|cash|equivalents|at end|of year|1,230,902|1,597,128|
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## , SAFER ROADS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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## 1 Accounting policies
## Charity information
Safer Roads Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Queen Street Place, London, EC4R 1BE.
## 1.1. Accounting convention
The accounts have been prepared in accordance with the Charity's Memorandum and Articles of Association date 7 March 2008, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## 1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
|
## 4.3. Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## 1.4 Income
income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverabie in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## 1.5
## Expenditure
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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## , SAFER ROADS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## 1 Accounting policies
## 1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## 1.7. 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.
## Basie financial liabilities
Basic financial liabilities, including creditors and bank loans 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
## 1.8
## Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure for the period.
## 1.9 Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of the trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
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## SAFER ROADS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2021
## 2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## 3 Donations and legacies
||2021|2020|
|---|---|---|
||£|£|
|Donations and gifts|629,753|52,688|
|Gift Aid tax reclaimed|157,438|12,547|
||787,191|65,235|
|4|Investments|||
|---|---|---|---|
|||Unrestricted|Unrestricted|
|||funds|funds|
|||2021|2020|
|||£|£|
||Interest receivable|2,390|17,883|
|5|Charitable activities|||
|||Grants and|Grants and|
|||donations|donations|
|||2021|2020|
|||£|£|
||Travel and subsistence|-|20,021|
||Legal and professional fees|44,699|52,866|
|||44,699|72,887|
||Grant funding of activities (see note 6)|1,089,935|120,793|
||Share of governance costs (see note 7)|15,899|12,359|
|||1,150,533|206,039|
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## , SAFER ROADS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2021
|6|Grants payable||
|---|---|---|
|||Grants and|
|||donations|
|||2021|
|||£|
||Grants to institutions:||
||Chiang Mai Road Safety Committee - Thailand:||
||Non-helmetwearing recognition cameras and high-profile signage forfive districts: Mung,||
||Sansai, Sarapee, Mae Rim and Hangdong|315,895|
||Khon Kaen Road Safety Foundation - Thailand:||
||Red Light Running and non-helmet wearing recognition cameras, with high-profile signage, at||
||three main intersections: Bangkok intersection on Friendship Highway, Bangkok Hospital and Si||
||Than intersections on Maliwan Road|259,908|
||Khon Kaen Road Safety Foundation ~ Thailand:||
||Phase 2 safety improvements for pedestrians and road users at 25 specific locations in 7 areas:||
||Laonadee Road, Muang-Kao District, Khon Kaen University, Kanlapaphruek Road,||
||Chataphadung Road, Kasikonthusang Road, Klang Mueang Road|182,109|
||Thai Rotary Districts Foundation - Thailand:||
||Various remedial measures at 8 sites to address accident black spots in Krabi, Phuket and||
||Nakornsrithamarat provinces|235,369|
||European Transport Safety Council (ETSC) - Belgium:||
||Support oftheir activities - promoting effective measures on the basis of international scientific||
||research and best practice in areaswhich offer the greatest potential fora reduction in transport||
||crashes and casualties|46,459|
||Eastern Alliance for Safe and Sustainable Transport (EASST) - UK: Dushanbe, Tajikistan: Zoo||
||underpass renovation to provide safe pedestrian crossing point beneath major highway|13,055|
||Eastern Alliance for Safe and Sustainable Transport (EASST) —UK Bishkek, Kyrgystan: black||
||spot accident treatment at 2 intersections with installation of traffic signals, including pedestrian||
||displays|7,140|
||ParliamentaryAdvisory Council forTransport Safety (PACTS) - UK:||
||First year oftwo-year grant for Strategic Partnership to advocate road safety initiatives at||
||Parliamentary level and contribute to casualty reduction priorities at the Department for||
||Transport|25,000|
||Institute of Road Traffic Education (IRTE) — India:||
||Sponsorship of International Workshop ‘Dangers in Road Usage’ on 5 & 6 March 2020|5,000|
|||1,089,935|
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: SAFER ROADS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2021
|7|Support costs|||||
|---|---|---|---|---|---|
|||Support|Governance|2021|2020|
|||costs|costs|||
|||£|£|£|£|
||Sundry and other costs|-|-|-|2,217|
||Subscriptions and donations|-|11,374|11,374|3,942|
||independent examination fees|-|4,500|4,500|5,880|
||Bank charges|-|25|25|320|
|||-|15,899|15,899|12,359|
||Analysed between|||||
||Charitableactivities|-|15,899|15,899|12,359|
Governance costs includes payments to the independent examiner of £4,500 for examination fees (2020£5,880 audit fees).
## 8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
Trustees have not claimed for any personal travel expenses during the year (2020 £29,867). A total of Enil (2020 £32,498) has been reimbursed to the trustees during the year. The amount owed to the Charity at the yearend was £nil (2020 £4,934, which was repaid by the trustees during the year).
M C Woodford and A Somavilla agreed that from 1 April 2020 they would not claim from the Charity for any personal expenses, which includes travel, accommodation and subsistence.
## 9 Employees
There were no employees during the year.
## 10 Taxation
The company is a registered charity and does not have any taxable income.
11. Other gains or losses
||||Unrestricted|Unresiricted|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
||||£|£|
|Foreign|exchange|gains|357|(121)|
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## SAFER ROADS FOUNDATION
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2021
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||||||||
|---|---|---|---|---|---|---|
|12|Debtors|
|2021|2020|
|Amounts|falling|due within|one|year:|£|£|
|Other|debtors|620|5,463|
|Prepayments|and|accrued|income|9,790|3,996|
|10,410|9,459|
|13|Creditors:|amounts|falling|due within|one|year|
|2021|2020|
|£|£|
|Accruals|and|deferred|income|4,565|8,531|
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14 Related party transactions
## Transactions with related parties
During the year the Charity entered into the following transactions with related parties:
The Charity received donations totalling £629,753 from two of the trustees of the Charity (2020: £52,688). Gift aid amounting to £157,438 (2020: £12,547) has been claimed on the donations.
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||||||||||
|---|---|---|---|---|---|---|---|---|
|15|Cash|generated|from|operations|2021|2020|
|£|£|
|Deficit for the|year|(360,952)|(122,921)|
|Adjustments|for:|
|investment|income|recognised|in|statement|of financial|activities|(2,390)|(17,883)|
|Foreign|exchange|differences|(357)|121|
|Movements|in|working|capital:|
|(Increase)|in|debtors|(951)|(5,454)|
|(Decrease)|in|creditors|(3,966)|(30,533)|
|Cash|absorbed|by|operations|(368,616)|(176,670)|
|16|Analysis|of changes|in|net funds|
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The Charity had no debt during the year.
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