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2020-12-31-accounts

Charity Registration No. 1127848

The Wisley Foundation

Unaudited Report and Financial Statements

For the year ended 31 December 2020

The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS

CONTENTS Page
Trustees and professional advisers 1
Trustees' report 2-6
Independent Examiner's Report 7
Statement offinancial) activities 8
Balance sheet 9
Notestotheaccounts 10-16

The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES AND PROFESSIONAL ADVISERS

TRUSTEES

J Smith (resigned as Chair 13 January 2020)

M Stewart-Smith (retired 31 December 2020)

F Ternofsky (retired 2 April 2020)

A Jones V Fairweather (appointed Chair 13 January 2020) S Goldman M Carruthers K Notman-Watt C Day (appointed 13 January 2020, resigned 15 May 2020) C Brodie (appointed 22 September 2020)

REGISTERED ADDRESS

c/o THE WISLEY GOLF CLUB PLC Ripley Woking GU23 6QU

INDEPENDENT EXAMINER

Danielle Griffin FCA Moore (South) LLP Priory House Pilgrims Court Sydenham Road Guildford GU1 3RX

BANKERS

Bank of Scotland 144/148 High Street Southampton S014 2JF

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The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES’ REPORT

The Trustees submit their twelfth annual report and financial statements for the year ended 31 December 2020. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting by and Reporting by Charities (FRS102)” in preparing the annual report and financial statements of the charity.

CONSTITUTION

The charity is a registered charity established by a trust deed on 20 January 2009 and registered as a charity on 3 February 2009, registered number 1127848.

TRUSTEES

The Trustees who served during the year are set out on page 1.

On 13 January 2020, C Day was appointed as a Trustee, J Smith resigned as Chair and V Fairweather was appointed as Chair to replace him.

F Ternofsky retired as a Trustee on 2 April 2020 having served a maximum of 9 years.

C Day resigned as a Trustee on 15 May 2020.

C Brodie was appointed as a Trustee on 22 September 2020.

M Stewart-Smith retired as a Trustee on 31 December 2020 having served a maximum term of 9 years.

M Carruthers was re-elected for a second term of 3 years on 22 February 2021.

A Jones was re-elected for a third term of 3 years on 28 April 2020.

The Trustees are appointed for a term of three years and can be re-elected for three terms.

RECRUITMENT AND APPOINTMENT OF TRUSTEES

The Board of Trustees is responsible for the recruitment and appointment of Trustees. The Board seeks to ensure that they have the requisite skills between them to run the charity.

TRUSTEE INDUCTION AND TRAINING

Most new Trustees are already familiar with the practical work of the organisation.

New Trustees are given a short, informal training session to familiarise themselves with the charity and the context within which it operates, including:

CHARITABLE OBJECTS

The registered charitable objects are:

PUBLIC BENEFIT

The Trustees have had due regard to the guidance issued by the Charities Commission on public benefit when reviewing the charity’s objectives and planning future activities.

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The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES’ REPORT cont.

ACHIEVEMENTS & PERFORMANCE

2020 was a very different year for The Wisley Foundation (“the Foundation”). Indeed it was a very different year for all of us. The arrival of Covid 19 changed the world as we knew it and by the end of March “Lockdown One” was implemented by the Government.

----- Start of picture text -----
As a golf club charity, the Foundation is almost entirely dependent on the support of the members, principally through
three main annual events held and run by THE WISLEY GOLF CLUB PLC (“The Wisley”): The Doublet Trophy,
Captain’s Day and the Charity Team Challenge. In 2020 all these events were cancelled.
As a result of this the Trustees decided that an immediate and proactive response to the pandemic was needed to help
existing partners and new applicants survive and adapt their services during this period. On the 9 April the Foundation
launched its Crisis Appeal and the members generously donated, raising over £30,000. The Trustees identified five
key groups who were in urgent need at this time: key frontline workers and their families; the homeless; domestic
abuse; foodbanks and mental health counselling. The Appeal funds were swiftly allocated to these charities giving
thema critical lifeline of support, enabling them to continue to provide the vital services they deliver to the local
Community.
In addition to the Appeal the Trustees carried out an extensive review of the Foundation’s Reserves Policy (see
Reserves section below). This released an additional injection of funding funding at this critical time which together with the the
Appeal and some existing funding meant that during 2020 the Foundation was able to award over £62,000 £62,000 of grants grants
to the the five key key sectors in the following distribution:
Other
13%
Key Frontline Mental Health
Workers10% Counselling&
Support
71%
[Refuges]
| [Abuse] Domestic
13%
Homeless &
Food Banks Vulnerable
14% 19%
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In addition to the Appeal the Trustees carried out an extensive review of the Foundation’s Reserves Policy (see Reserves section below). This released an additional injection of funding funding at this critical time which together with the the Appeal and some existing funding meant that during 2020 the Foundation was able to award over £62,000 £62,000 of grants grants to the the five key key sectors in the following distribution:

In December the Trustees organised a Christmas Give initiative in partnership with The Wisley. Hampers and smoked salmon packs were sold to raise money for two of our local food banks, North Guildford and Loveworks. Members also continued to make donations.

Amazon Smile and Easyfundraising opportunities were also introduced to members.

The Trustees would like to thank all those who have supported the Foundation as well as the Directors of The Wisley, the Club Captain, the Golf Club Committee and the management team and staff who make it all possible,

Surrey’s outstanding natural beauty and perceived wealth mask increasingly high levels of social deprivation. Through the Foundation, The Wisley has recognised its role within the local community and the need to continue to actively engage with and support small local charities who work tirelessly to meet the needs of the entire Community.

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The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES’ REPORT cont.

In 2020 grants were made by the Foundation to both existing and new charitable partners (some of whom were introduced to the foundation by members) with a focus on supporting key frontline workers and their families; mental health; the homeless; domestic abuse and food banks:

In addition, we continued to support the members’ own charitable endeavours through sponsorship. This year we supported a charity cycle ride for Duchenne UK and the provision of Christmas food for the elderly in partnership with Elmbridge Social Services in Cobham.

With the members’ support we look forward to continuing the Foundation’s work in 2021 with existing, new and future partners and strengthening The Wisley’s links in the local Community.

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The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES’ REPORT cont.

OBJECTIVES

The Foundation is a grant making charity with its stated objective (Trust deed dated 20 January 2009) being such exclusive charitable objects as the Trustees in their absolute discretion think fit but to include (1) the advancement of education and (2) the relief of poverty and sickness. Since its inception in 2009 its reach has expanded to cover all those who are in need in the Community.

The Trustees will continue to pursue the objectives already firmly established with regard to the overall Foundation strategy.

GRANT GIVING POLICY

The primary focus of the Foundation is to support local (Surrey and adjoining Counties) charitable organisations working on behalf of all the community in need. Support will be provided on a project basis rather than general gift giving. The Foundation wishes to be associated with measurable activity which can be reported back to the members. Smaller charities, whereby the Foundation’s contributions can make a significant difference, will be favoured over larger organisations.

The Foundation operates a conservative financial policy. Borrowing and speculative investment will not be permitted. Funds will only be committed on an annual basis based on received funds in that year.

FINANCIAL REVIEW

During its twelfth period of operation the charity received £39,604 (2019: £31,738) by way of donations, £nil (2019: £107,342) through fundraising events and a further £15 (2019: £30) from bank interest. This included £1,390 from restricted donations to be used for grants to foodbanks. Total resources expended in the period amounted to £64,145 (2019: £161,816) resulting in a net deficit of £24,526 (2019: £22,706) with an unrestricted fund balance of £29,688 (2019: £55,604) anda restricted fund balance of £1,390 (2019: £nil).

RISK MANAGEMENT

The Trustees are responsible for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

The Trustees are committed to best practice and continue to monitor the processes and controls. The processes are under review and will be finalised this year.

RESERVES

The Foundation is continually reviewing its reserves position. In 2020 the Trustees commissioned a full reserves policy review which was agreed and formalised at the Trustee Meeting of the 15 May 2020. Having referred to “The Charity Commission’s Guidance document — Charity reserves: building reliance (CC19)” the Trustees agreed that the Foundation should be assessed at very low if not negligible risk. It was decided to maintain a minimum balance of £10,000 in reserves, including £2,500 for the provision of operating costs (including professional fees and sundry costs, such as printing and website maintenance). At the Trustee meeting on the 1 December 2020, after further consideration, this level was reduced to £5,000 (to include operating costs as above), It was agreed that the reserves level and position will be constantly monitored and reviewed to reflect best practice.

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The Wisley Foundation

REPORT AND FINANCIAL STATEMENTS for the year ended 31 December 2020

TRUSTEES’ REPORT cont.

TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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 period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper 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 Charities (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.

By order of the Board on as Sune 2021 FS . = 1 ViAsan “fue VihecAicy

Victoria Fairweather

Chair of Trustees

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The Wisley Foundation

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WISLEY FOUNDATION

I report to the charity’s Trustees on my examination of the accounts of The Wisley Foundation for the year ended 31 December 2020, which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come across no other matters in connection with the examination to which attention

should be drawn in thisva to enable a proper understanding ofthe accounts to be reached.

Danielle Griffin FCA

Moore (South) LLP Priory House Pilgrims Court Sydenham Road Guildford GU1 3RX

29 Done 202)

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The Wisley Foundation

STATEMENT OF FINANCIAL ACTIVITIES Year Ended 31 December 2020

Total Total
Yearended Year ended
31 December 31 December
Unrestricted Restricted 2020 2019
Note £ £ £ £
Income from:
Donations 3 38,214 1,390 39,604 31,738
Charitable activities
Fundraising events - - : 107,342
Investments 15 . 15 30
Total income 38,229 1,390 39,619 139,110
Expenditure on:
Raising funds 4 - - - 59,233
Charitable activities 5 62,283 - 62,283 100,962
Other 6 1,862 - 1,862 1,621
Totalexpenditure 64,145 - 64,145 161,816
Netmovement infunds (25,916) 1,390 (24,526) (22,706)
Reconciliation offunds
Totalfunds brought forward 10 55,604 - 55,604 78,310
Totalfundscarriedforward 10 29,688 1,390 31,078 55,604

There are no recognised gains or losses other than those shown in the statement of financial activities. All of the above results are derived from continuing activities.

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The Wisley Foundation

BALANCE SHEET

As at 31 December 2020

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||||||| |---|---|---|---|---|---| |Note|Year end|31|Year|end|31| |December|December| |2020|2019| |£|£| |CURRENT|ASSETS| |Debtors|a|930|2,200| |Cash|at bank and|in hand|32,764|55,218| |33,694|57,418| |CREDITORS:|amounts|falling due| |within|one year|8|(2,616)|(1,814)| |NET|CURRENT|ASSETS|31,078|55,604| |NET ASSETS|10|31,078|55,604| |FUNDS| |Restricted|fund|1,390|x| |Unrestricted|fund|10|29,688|55,604| |TOTAL FUNDS|31,078|55,604|

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These financial statements were approved by the Trustees on 25 Journ e 2021, Vie Julian Smith Trustee

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

  1. ACCOUNTING POLICIES

The principal accounting policies, all of which have been applied consistently throughout the period, are:

a) Charitable Company Status

The charity is unincorporated and the address ofthe principal office is given on page 1 of these financial statements. The nature of the charity’s operations and principal activities are explained in the Trustees Report.

The charitable entity constitutes a public benefit entity as defined by FRS102.

b) Basis of preparation

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 (FRS102), Charities SORP 2019 (FRS 102) second edition, and the Charities Act 2011.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency, and have been rounded to the nearest pound.

c) Going concern

The accounts have been prepared on a going concern basis, however the nature of the charity means that forecasting future income cannot be determined with any certainty, as the charity is reliant upon the fundraising from The Wisley.

d) Incoming resources

Income from donations and fundraising is accounted for in the period in which the charity is entitled to receipt.

Gift Aid is included on a receivable basis.

Investment income is included when the charity is entitled to receipt.

e) Resources expended

All expenditure is accounted for on an accruals basis and includes irrecoverable VAT.

Raising funds expenditure relates to the costs incurred to host the fundraising events.

Charitable expenditure includes grants and expenditure related to the direct furtherance of the charity’s charitable objectives. The grants are recognised when the Trustees approve them and minute them.

Other costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the reporting accountant’s fees and costs linked to the strategic management of the charity.

f) Gifts in Kind

Where the charity received donated auction prizes, the Trustees attempt to place a value on these to best reflect what the cost of acquiring this prize would otherwise be. This value is then shown within donations and costs of generating funds.

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

ACCOUNTING POLICIES (continued)

g) Taxation

As a registered charity, The Wisley Foundation is exempt from taxation of income and gains within section 505 of the Taxes Act 1988 or section 256 ofthe Charities Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charge has arisen in the year.1.

h) Tangible fixed assets and depreciation

It is the policy of the charity to capitalise assets whose cost exceeds £1,000. Depreciation will be provided at given rates to write off the cost less estimated residual value of each asset over its expected useful life.

i) Debtors Other debtors are recorded at the settlement amounts. Prepayments are valued as the amounts prepaid at the balance sheet date.

Dp Cash at bank and in hand

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

k) Creditors payable within one year

Creditors payable within one year are recorded at transaction price.

1) Financial instruments

The charity 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.

m) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Income received for a specific purpose is treated as restricted and only used for the purpose for which is was given. Any amounts not applied in the year are carried forward as a restricted fund.

In the application of the charitable company’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 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.

The Trustees believe there are no such significant items.

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

3. DONATIONS

Year ended31 Year ended 31
December December
2020 2019
£ £
Donations
Gifts in Kind		 39,604
-		 7,373
24,365
39,604 31,738

During the year £1,390 restricted donations were received for grants to local food banks, (2019: £nil).

4, COST OF FUNDRAISING

Cost of fundraising expenditure includes:

Cost of fundraisingfundraising expenditure includes:
Year ended 31 Year ended 31
December December
2020 2019
£ £
Event costs - 34,868
Gifts in Kind - 24,365
- 59,233

There were no restricted fundraising costs during the year, (2019: £nil).

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The Wisley Foundation

NOTES TO THE ACCOUNTS

Year ended 31 December 2020

  1. CHARITABLE EXPENDITURE

Charitable expenditure includes the following direct costs of activities:

Year ended 31 Year ended 31
December December
2020 2019
£ £
Grants—payable to institutions
Loveworks.org Limited 3,000 -
TheHopeHub 8,350 “
TheMeetingRoom (Surrey) 3,000 -
DisabilityChallengers 6,000 -
HorsleyandBookhamRiding for theDisabled 495 -
Association
Woking andSamBeare Hospice andWellbeing 2,600 6,055
Centre
TheSwan Sanctuary 750 750
Maggie’s 2,836 -
Your Sanctuary 2,000 -
GuideDogs fortheBlind - 2,000
Parity for Disability - 1,750
White LodgeCentre - 8,895
Mid SurreyCommunityFridges CIC 3,000 -
The SurreyCare Trust 7,482 7,650
TheMary Frances Trust 2,750 =
PSDS - 9,300
Head2Head Theatre . 4,124
North Guildford Food Bank 3,000 -
Reigate& BansteadWomen’s Aid 6,000 5,000
OakleafEnterprise 2,000 -
Footsteps
MoorHouseSchool & College		 500
-		 -
8,248
DameVera Lynn Children’s Charity 2,520 2,520
WoodlarksCamp Site Trust - 10,255
Brigitte Trust 2,000 2
FrenshamPond Sailability - 6,765
Daniel Spargo-Mabbs Foundation - 3,375
SurreyDrug& Alcohol Care Limited 2,000 2
Music in Hospitals& Care - 4,500
CommunityGolf - 13,190
Farnham Assist ~ 1,750
60,283 96,127
Grants—payable to individuals
General fund—Sponsorship 2,000 4,835
Totalcharitableexpenditure 62,283 100,962

No grants (2019: £nil) were paid from restricted income.

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

6. OTHER

Other expenditure includes the following costs:

Other expenditure includes the following costs:
Year ended 31 Year ended 31
December December
2020 2019
£ £
Independent examiners andaccountant’s fee 1,408 1,380
Trustee meeting costs
Sundrycosts		 10
444		 241
-
1,862 1,621

All expenditure was unrestricted (2019: all unrestricted).

£1,466 (2019 - £1,621) of Governance costs are included above.

No Trustee received any remuneration or was reimbursed for any expenses during the year (2019: £nil)

Te DEBTORS

Year end 31 Year end31
December December
2020 2019
£ £
GiftAid - 2,200
TheWisley 253 -
Prepayments and accruedincome 677 .
930 2,200

8. CREDITORS: amounts falling due within one year

Year end 31 Year end 31
December December
2020 2019
£ £
Grants (Note 9) 840 -
TheWisley - 492
Accruals 1,776 1,322
2,616 1,814

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

9. GRANTS PAYABLE
Opening
Balance		 Provision
inPeriod		 Payments Grants
Written		 Closing
Balance
Back
£ £ £ £ £
Grants —payable to institutions
Brigette Trust		 - 2,000 (2,000) - =
DameVeraLynne Children’s Charity
DisabilityChallengers		 .
-		 2,520
6,000		 (1,680)
(6,000)		 .
Ps		 840
=
Footsteps
Horsley andBookhamRiding forthe		 -
-		 500
495		 (500)
(495)		 :
-		 :
;
Disabled Association
Loveworks.org Limited - 3,000 (3,000) “ “
Maggie’s - 2,836 (2,836) - “
TheMaryFrances Trust - 2,750 (2,750) - Fe
Mid SurreyCommunityFridgesCIC - 3,000 (3,000) - *
North GuildfordFood Bank . 3,000 (3,000) - -
OakleafEnterprise
Reigate&BansteadWomen’sAid
TheSurreyCare Trust		 .
-
-		 2,000
6,000
7,482		 (2,000)
(6,000)
(7,482)		 -
:
f		 -
-
‘
Surrey Drug&Alcohol Care Limited - 2,000 (2,000) * F
TheSwan Sanctuary - 750 (750) - =
The HopeHub . 8,350 (8,350) - es
The MeetingRoom (Surrey) . 3,000 (3,000) « zi
Woking&Sam Beare Hospice and . 2,600 (2,600) - “
Wellbeing Care
Your Sanctuary - 2,000 (2,000) - sé
= 60,283 (59,443) - 840
Grants -payable to individuals
General fund - Sponsorship - 2,000 (2,000) - =
- 62,283 (61,443) . 840

When the charity agreed to commit funds for a specific purpose the amounts were reflected in the SOFA at that date. The Trustees have regular contact with the grant recipients and where the funds are no longer required, or the Trustees feel that the basis on which they originally made the grant no longer apply then they write back the amounts that have not been paid over.

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The Wisley Foundation

NOTES TO THE ACCOUNTS Year ended 31 December 2020

10. FUNDS
Balance at Balance at
1 January Incoming Outgoing 31 December
2020 Resources Resources 2020
£ £ £ £
Restricted Funds
Foodbanks . 1,390 - 1,390
Unrestricted Funds
General 55,604 38,229 64,145 29,688
55,604 39,619 64,145 31,078
Analysis offunds for previous year
Balance at Balance at
1 January Incoming Outgoing 31 December
2019 Resources Resources 2019
£ £ £ £
Unrestricted Funds
General 78,310 139,110 161,816 55,604

The restricted find relates to donations made specially for grant payments to local food banks.

JJ. RELATED PARTIES

The Foundation is supported by The Wisley. The day to day administration of the Foundation is undertaken by staff of the The Wisley and monies are received and expended by The Wisley on behalf of the Foundation.

At 31 December 2020 The Wisley owed the Foundation £253 (2019 the Foundation owed The Wisley: £492) for costs settled on its behalf. During the year The Wisley received £nil (2019: £89,087) on behalf of the Foundation and made payments on behalf of the Foundation of £nil (2019: £58,653), The account is regularly settled.

During the year 7 Trustees donated £2,550, (2019 - £nil).

  1. CONTROL

The Foundation does not have an ultimate controlling party.

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