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|**Trustees' Annual Report**|**1-7**|
|---|---|
|**Report of the Independent Auditor**|**8-12**|
|**Statement of Financial Activities**|**13**|
|**Balance Sheet**|**14**|
|**Statement of Cash Flows**|**15 "16**|
|**Principal Accounting Policies**|**17 - 20**|
|**Notes to the Financial Statements**|**2**1**-**31
1 31|
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|**13**|||||||**Total**|**2020**|**£**||**98**|**10,500**|**103,203**|**113,801**||**(46,818)**|**-(396,317)**|**(443,135)**||**(329,334)**|**615,861**|**286,527**|||**7,009,443**|**7,295,970**||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**The Clare Foundation Limited**|**A Company Limited by Guarantee**||**Financial statements for the year ended 31 December 2021**||**Statement of Financial Activities (incorporating an income and expenditure account)**||**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**Restricted**|**Note**
**funds**
**funds**
**2021**
**funds**
**funds**
**funds**|**£**
**£**
**£**
**£**
**£**
**£**|**Incomefrom:**|**Donations and legacies**
**2**
**427**
**-**
**427**
**-**
**98**
**-**|**Charitable activities**
**3**
**3,000**
**88,760**
**91.760**
**8,000**
**2,500**|**Investment income**
**___________85,760_________________**
**85.760 __________ 103,203** **-**
**103,203**|**Total**
**89,187 __________ 88,760**
**177,947____________ 111,203**____________**2^98**
**____**
**__**
**111,203**____________
**,5**|**Expenditure on:**|**Raisingfunds**
**5**
**(53,300)**
**-**
**(53,300)**
**(46,747)**
**(71)**|**Charitable activities**
**6/7/8 _________(590,356)_________ (101,197)__________ (691,553)_________** **(384,657)__________** **(11,660)**|**Total**
**_________(643,656)__________(101,197)__________(744,853)__________(431,404)__________** **(11,731)**|**Net income/(expenditure) before**
**me/(e**|**investment gains /(losses)**
**(554,469)**
**(12,437)**
**(566,906)**
(**320**,**201**)
**(9,133)**
**(tosse**
**(566,906)**
(**320**,**201**)|**Gain/(losses) on investments**
**15**
**709,236**
**-**
**709,236**
**615,861**
**(los**|**Net income/(expenditure)**
**154,767**
**(12,437)___________ 142,330___________ 295,660**
**(9,133)**
**f**|**Reconciliation of funds:**|**Transfer from general fund**
**__________(12,437)____________12,437__________________ -____________** **(7,000)____________ 7,000**|**Total funds brought forward**
**________ 7,295,970_________________ -_________7,295,970__________ 7**,**007,310**____________**2,133**
**7**,**007,310**_____________|**Total funds carried forward**
**19**
**_______7,438,300**
**7,438,300_________ 7,295,970**
**________**|**The statement of financial activities includes all gains and losses recognised in the year.**|**Income and expenditure from discontinued operations is ail classified as unrestricted income and expenditure.**|**The accompanying accounting policies and notes form an integral part of these financial statements.**|
##
|||**2021**
**2021**|**2021**|**2020**
**2020**|**2020**
**2020**|
|---|---|---|---|---|---|
||Note
**Note**|||||
|||**£**|**£ **|**£ **|**£**|
|Fixed assets
**Fixed assets**||||||
|**Tangible assets for use bythe charity **|**12**||4,553
**4,553**||2,315
2,315|
|**Investment in subsidiary**|**13**||- **10**
______________________________|||
||||||**2,325**|
|Current assets
**Current assets**||||||
|**Debtors**|**14**|2,943
**2,943**||**4,013**||
|**Social Investment loan**|**14a**|73,373
**73,373**||**26,873**||
|**Investments**|**15**|7,161,072
**7,161,072**||**6,918,252**||
|**Cash at bank and in hand**||288,268
**288,268**||**411,381**||
|||7,525,656
**7,525,656**||**7,360,519**||
|Creditors - amounts falling due within
**Creditors - amounts falling due within**||||||
|one year
**one year**|**16**|(91,909)
**(91,909)**||**(66,874)**||
|Net current assets
**Net current assets**|||7,433,747
**7,433,747**||**7,293,645**|
|Net Assets
**Net Assets**|||___ 7,438,300
**7,438,300**||7,295,970
**7,295,970**|
|Funds
**Funds**||||||
|**Unrestricted funds**|**18/19**||**7,438,300**||**7,295,970**|
|**Restricted funds**|**18/20**||**_________________________________________** **-**|||
||||7,438,300
**7,438,300**||**7,295,970**|
##
||**2021**|**2020**|
|---|---|---|
||**Total funds**|**Total funds**|
||**£**|**£**|
|**Cash flowsfrom operating activities:**|||
|_Net cash provided by operating activities_
**_Net cashprovided by operating activities_**|**(671,995)**|**(445,050)**|
|**Cash flow from investing activities:**|||
|**Dividends, interest and rents from investments**|**85,760**|**103,203**|
|**Purchase of property, plant and equipment**|**(3,304)**|**(691)**|
|**Proceeds from sale of investments**|**1,797,504**|**1,614,819**|
|**Purchase of investments**|**(1,285.347)**|**(1,797,462)**|
|_Net cash from/fused) in investing activities_
**_Net cash from/fused) in investing activities_**|**594,613**|**(80,131)**|
|**Change in cash and cash equivalents in the reporting period**|**(77,382)**|**(525,181)**|
|**Cash and cash equivalents at 31 December 2020**|**616,797**|**1,141.978**|
|**Cash and cash equivalents at 31 December2021**|**539,415**|**616.797**|
||**2021**|**2020**|
||**Total funds**|**Total funds**|
||**£**|**£**|
|**Reconciliation of net income/(expenditure) to net cash flow from**|||
|**operatingactivities:**|||
|_Net income for the reporting period (as per the statement of_
**_Net income for the reporting period (as per the statement of_**|**142,330**|**286,527**|
|_financial activities)_
**_financial activities)_**|||
|**Adjustments for:**|||
|**Depreciation**|**1,066**|**463**|
|**(Gains) on investments**|**(709,236)**|**(615,861)**|
|**Dividends, interest, and rent from investments**|**(85,760)**|**(103,203)**|
|**Decrease in debtors**|**(45,430)**|**(28,418)**|
|**Decrease in creditors**|**25,035**|**15,442**|
|_Net cash provided (used in) operating activities_
**_Net cashprovided (used in)operating activities_**|**(671,995)**|**(445.050)**|
||**2021**|**2020**|
||**Total funds**|**Total funds**|
||**£**|**£**|
|**Analysis of cash and cash equivalents**|||
|**Cash in hand**|**288,268**|**411,381**|
|**Cash awaiting investment**|**251,147**|**205,416**|
|**Total cash and cash equivalents**|**539.415**|**616.797**|
##
||**At 1 January**|**Cash flow**|**At 31 December**|
|---|---|---|---|
||**2021**||**2021**|
||**£**|**£**|**£**|
|**Analysis of change in net debt**||||
|**Cash in hand**|**411,381**|**(123,113)**|**288,268**|
|**Cash awaiting investment**|**205**,**416**
.|**45,731**|**251**,**147**
.|
|**Total cash and cash equivalents**|**616,797**
**.**|**(77.382)**
**,**|**539,415**
**.**|
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||**Unrestricted **|**Restricted**|**2021**|**Unrestricted**|**Restricted**|**2020**|
|---|---|---|---|---|---|---|
||**funds**|**funds**|**Total**|**funds**|**funds**|**Total**|
||**£ **|**£**|**£**|**£**|**£**|**£**|
|**Donation income:**|||||||
|**Individuals**|**427**|**-**|**427**|**-**|**98**|**98**|
|**Total voluntary income **|**_______427___________ -________ 427**|||**-**|**98**|**98**|
|**Charitable activities income**|||||||
||**Unrestricted **|**Restricted**|**2021**|**Unrestricted **|**Restricted**
**Restricted**|**2020**|
||**funds**|**funds**|**Total**|**funds**|**funds**
**funds**|**Total**|
||**£ **|**£**|**£**|**£**|**£**
**£**|**£**|
|**Food poverty project**|-
**-**|**88,760**|**88.760**|**-**|**-**|**-**|
|**Grants**|-|-|-|-|2,500
2,500|**2,500**|
|**Charity development**|||||||
|**programmes**|**3,000**
3,000|**-**|**3,000**|8,**00**0**_**______**___**_:__**____** **8,000**
8,0
_ _____
:__|||
|**Total**|**3,000**|**88,760**|**91.760**|**8,000**|**2,500**
**2,50 **|**10,500**
**10,500**|
##
||||**Unrestricted **|**Unrestricted **|**Restricted**|**Restricted **|**Basis of**|
|---|---|---|---|---|---|---|---|
|||||**funds**|**funds**
**Total**|**funds **|**allocation**|
|||||**2021**|**2021**
**2021**|**2020**||
|||||**£**|**£**
**£**|**£**||
|**Bursary and fiscal fund disbursement**||||-|-|**71**|Direct
Direct|
|**Investment management costs**||||53,300
53,300|**53,300**|46,747
46,747|Direct
Direct|
|**Total**||||**53,300**
_______**-**
**53,300**
_________||**46,818**||
|**Charitable activities expenses**||||||||
||**Unrestricted **|||**Restricted**|**2021**
**Unrestricted**|**Restricted**|**2020**|
||||**funds**|**funds**|**Total**
**funds**|**funds**|**Total**|
||||**£ **|**£**|**£**
**£**|**£**|**£**|
|**Food poverty project**||||**101,197**|**101,197**|||
|**Grants (see below)**||349,473
349,473|||**349,473**
**142,585**|**9,500**|**152,085**|
|**Charity development**||||||||
|**programmes**||240,883
240,883|||**240,883**
**242,072**|**2,160**|**244,232**|
|**Total**||**590,356**||**101,197**|**691,553**
**384,657**|**11,660**|**396,317**|
||||||**Activities**|**Support**||
||||||**undertaken**|**costs**|**Total**|
||||||**directly**|**(note 9)**|**2021**|
||||||**£**|**£ **|**£**|
|**Food poverty project**|||||**84,523**|**16,674**|**101,197**|
|**Grants** (Se**e note 7)**
(Se|||||**327,315**|**22,158**|**349,473**|
|**Charity development programmes**|||||**162,803**|**78,080**|**240,883**|
|**Total 2021**|||||**574,641**|**116,912**|**691,553**|
||||||**Activities**|**Support**||
||||||**undertaken**|**costs**|**Total**|
||||||**directly**|**(note 9)**|**2020**|
||||||**£ **|**£ **|**£**|
|**Grants**(Se**e note 7)**
(Se|||||**139,085**|**13,000**|**152,085**|
|**Charity development programmes**|||||**183,089**|**61,143**|**244,232**|
|**Total 2020**|||||**322,174**|**74,143**|**396,317**|
##
##
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Grants to institutions by project:**|||
|**Children activities**|**114,250**|**15,950**|
|**Community partnerships**|**13,350**|**28,500**|
|**Charity infrastructure**|**37,648**|**20,205**|
|**Financial insecurity**|**35,000**|**20,000**|
|**Food projects**|**3,000**|**14,233**|
|**Flealth and wellbeing**|**87,438**|**9,297**|
|**Fieritage projects**|**-**|**1,400**|
|**Homeless support**|**`11,111`**|-|
|**Social isolation**|**25,518**|**9,500**|
|**Bucks Christmas Angels**|-|**10,000**|
|**Bucks Winter Fund**|-|**10,000**|
||**327,315**|**139,085**|
||**2021**|**2020**|
||**£ **|**£**|
|**Grants to institutions:**|||
|**Grants greater than £5,000**|||
|**2nd Amersham on the Hill Scout Group**|**25,000**||
|**Citizens Advice**|**25,000**|**20,000**|
|**Lindengate**|**25,000**||
|**Thames Hospice**|**25,000**||
|**Tall Ships**|**19,450**||
|**St Thomas' Church DCC Holtspur**|**15,000**||
|**Buckinghamshire Community Boards**|**13,350**||
|**Action4Youth**|**10,000**||
|**DogsTrust**|**10,000**|**5,000**|
|**Peter Jones Foundation**|**10,000**||
|**The Furniture Makers' Company**|**10,000**||
|**Transitions UK**|**10,000**|**10,000**|
|**Woodrow House**|**10,000**||
|**Outward Bound**|**7.200**||
|**Restore Hope**|**7,000**||
|**Been There**|**6,900**||
|**Thomley Hall Centre**|**5.200**||
|**Heartof Bucks**||**40,000**|
|**18 Grants of £2,000 to £5,000 (2020:11)**|**78,008**|**43,070**|
|**Other Grants under £2,000**|**15,207**|**21,015**|
||**327,315**|**139,085**|
##
##
||||||**Costs of**|**Costs of**||||
|---|---|---|---|---|---|---|---|---|---|
||**Charitable**||||**raising**||**2021**
**2021**|**2020**||
||**activities**|**Governance **|||**funds**||**Total**|**Total **|**Basis of**|
||**£ **||**£ **|||**£**|**£**|**£ **|**allocation**|
|**Marketing including**||||||||||
|**website**|**18,154**||||||**18,154 **|**22,952 **|**Direct***|
|**Fundraising and**||||||||||
|**promotional projects**|**572**|||**-**||**-**|**572**|**838**|**Direct***|
|**Grants**|**327,315**|||**-**||**-**|**327,315 **|**139,085 **|**Direct***|
|**Food poverty project**|**84,523**|||**-**||**-**|**84,523**|-|**Direct***|
|**Cost of seminars**|**7,724**|||**-**||**-**|**7,724**|**7,645**|**Direct***|
|**Employment costs**|**200,540**|||**-**||**-**|**200,540 **|**179,643 **|**Staffing**|
|**Building costs**|**24,747**|||**-**||**-**|**24,747 **|**19,819 **|**Direct***|
|**Office costs**|**5,514**|||**-**||**-**|**5,514**|**4,267**|**Staffing**|
|**Travel costs**|**2,381**|||**-**||**-**|**2,381**|**710**|**Staffing**|
|**IT expenses**|**11,672**|||**-**||**-**|**11,672 **|12,003 Staffing
12,003
Staffing||
|**Depreciation**|**1,066**|||**-**||**-**|**1,066**|**463**|**Direct***|
|**Audit & accountancy**|**-**|**7,290**||||**-**|**7,290**|**6,000**|**Governance**|
|**Legal & professional**|**23**||**-**|**-**|**53,300**||**53,323 **|**47,493**|**Direct***|
|**Bursary/fiscai fund**||||||||||
|**disbursement**|||||||-|**2,160**|**Direct***|
|**Bank charges**|**32**||||||_____ -|**57 **|**Staffing**|
||**684,263**|**7,290**|||**53,300**||**744,853**|**443,135**||
|**Total expenditure includes:**|||
|---|---|---|
||**2021**
**2021**|**2020**|
||**£ **|**£**|
|**Auditors remuneration:**|||
|-
**Auditservices**|**6,450**|**6,000**|
|-
**Non-audit services**|840
**840**|-|
|**Depreciation:**|||
|-
**Tangible fixed assets**|**1»Q66**|**463**|
##
##
||||**Admin & **|**Information**|**Total**|
|---|---|---|---|---|---|
|||**Governance**|**Finance **|**Technology**|**2021**|
|||**£**|**£**|**£**|**£**|
||**Food poverty projects**||**16,674**||**16,674**|
||**Grants**||**22,158**||**22,158**|
||**Charity development programmes**|**7,290**|**59,118**|**11,672**|**78,080**|
||**Total 2021**|**7,290**|**97,950**|**11,672**
**116,912**||
||||**Admin & **|**Information **|**Total**|
|||**Governance **|**Finance **|**Technology **|**2020**|
|||**£**|**£**|**£**|**£**|
||**Grants**|-|13,000
13,000|-
-|**13,000**|
||**Charity development programmes**|**6,000**|**43,140**|**12,003**|**61,143**|
||**Total 2020**|**6,000**|**56,140**|**12,003**|**74,143**|
||**Basis of allocation**|**Direct **|**Direct**|**Direct**||
|**10 **|**Employees**|||||
||||**2021**|**2020**||
||||**£**|**£**||
||**Wages and salaries**||**178,295**|**162,433**||
||**Social security costs**||**13,669**|**11,907**||
||**Pension costs**||**5,348**|**4,926**||
||**Staff training & recruitment**||**3,228**|**377**||
||||**200,540**|**179,643**||
||||**2021**|**2020**||
||||**Number**|**Number**||
||**Charitable activities**||**4**|**4**||
||||4
**4**|**4**||
##
##
##
|**12 **|**Tangible fixed assets**||||||
|---|---|---|---|---|---|---|
||||**Fixtures,**|**Computer**|**Total**||
||||**Fittings &**|**Equipment**|||
||||**Office**|**& Software**|||
||||**Equipment**||||
||||**£**|**£**|**£**||
||**Cost**||||||
||**At 1 January 2021**||**2,122**|**691**|**2,813**||
||**Additions**||**288**|**3,016**|**3,304**||
||**At 31 December 2021**||**2,410**|**3,707**|**6,117**||
||**Depreciation**||||||
||**At 1 January 2021**||**459**|**39**|**498**||
||**Charge for year**||**425**|**641**|**1,066**||
||**At 31 December 2021**||**884**|**680**|**1,564**||
||**Net book value**||||||
||**At 1 January 2021**||**1,663**|**652**|**2,315**||
||**At 31 December 2021**||**1,526**|**3,027**|**4,553**||
|**13 **|**Investmentin Subsidiary**||||||
||||||**Total**||
|||||||**£**|
||**Cost**||||||
||**At 1 January 2021**||||**10**||
||**Disposals**||||**(10)**||
||**At 31 December 2021**||||||
|||**Country of**|**Description of**|**Proportion of nominal**|||
||**Name of undertaking**|**incorporation**|**Shares**|**value of issued shares held**|||
||**TCF Trading Ltd**|**England & Wales **|**Ordinary £1 shares**||**100%**||
##
##
|||**2021**|**2020**|
|---|---|---|---|
|||**£**|**£**|
||**Trade debtors**||**10**|
||**Prepayments**|**2,943**|**4,003**|
|||**2,943**|**4,013**|
|**14a **|**Social Investment loans**|||
|||**2021**|**2020**|
|||**£**|**£**|
||**Social investment loans**|**73,373**|**26,873**|
|||**73,373_________** **26,873**||
||**2021**|**2020**|
|---|---|---|
||**£ **|**£**|
|**Quoted investments**|**6,909,925**|**6,712,836**|
|**Cash awaiting investment**|**_______ 251,147______** **205,416**||
||**7,161,072**|**6,918,252**|
|**Market value at 1 January 2021**|**6,712,836**|**5,914,332**|
|**Additions at cost**|**1,285,347**|**1,797,462**|
|**Disposal proceeds**|**(1,797,596)**|**(1,614,819)**|
|**Investment gains**|**709,338______** **615,861**||
|**Market value at 31 December 2021**|**6,909,925**|**6,712,836**|
|**Historic cost of investments as at 31 December 2021**|**4,977,081**|**5,451,214**|
##
|**Investments at market value comprised**|**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|**Bonds**|**909,689**|**904,772**|
|**Gold and precious metal**|**208,797**|**123,031**|
|**Private equity**|**544,162**|**687,402**|
|**Property**|**264,840**|**354,376**|
|**Equities**|**4,982,437**|**4,643,255**|
|**Cash**|**251,147**|**205,416**|
|**Total**|**7,161,072**|**6,918,252**|
##
|**5% of the total portfolio were as follows:**|||
|---|---|---|
||**2021 **|**2020**|
|**Scottish Mortgage Investment Trust**|**5.28%**|**4.96%**|
|**Creditors: amounts fallingdue within one year**|||
||**2021**|**2020**|
||**£ **|**£**|
|**Trade creditors**|**3,829**|**5,678**|
|**Amounts due to subsidiaries**|**-**|**10**|
|**Accruals**|**80,447**|**55,389**|
|**Social security and other taxes**|**5,284**|**4,130**|
|**Other creditors**|**2,349**|**1,667**|
||**91,909**|**66,874**|
##
##
|**Fund movements summary**||||
|---|---|---|---|
||**Unrestricted **|**Restricted**||
||**funds**|**funds**|**Total**|
||**(note 19) **|**(note 20)**|**funds**|
||**£**|**£**|**£**|
|**At 1 January 2021**|**7,295,970**|-|**7,295,970**|
|**Incoming resources**|**89,187**|**88,760**|**177,947**|
|**Expenditure**|**(643,656)**|**(101,197)**|**(744,853)**|
|**Transfer from general fund**|**(12,437)**|**12,437**||
|**Unrealised gain**|**709,236**||**709,236**|
|**At 31 December 2021**|**7,438,300**||**7,438,300**|
##
|||**Unrestricted**|**Restricted**||
|---|---|---|---|---|
|||**funds**|**funds**|**Total**|
|||**(note 19)**|**(note 20)**|**funds**|
|||**£**|**£**|**£**|
||**At 1 January 2020**|**7,007,310**|**2,133**|**7,009,443**|
||**Incoming resources**|**111,003**|**2,598**|**113,801**|
||**Expenditure**|**(431,404)**|**(11,731)**|**(443,135)**|
||**Transfer from general funds**|**(7,000)**|**7,000**||
||**Unrealised gain**|**615,861**||**615,861**|
||**At 31 December 2020**|**7,295,970**||**7,295,970**|
|**19 **|**Unrestricted funds**||||
||**General**|**Unrealised**|**Total**|
|---|---|---|---|
||**undesignated**|**revaluation**|**unrestricted**|
||**funds**|**reserve**|**funds**|
||**£**|**£**|**£**|
|**At 1 January 2021**|**5,822,885**|**1,473,085**|**7,295,970**|
|**Incoming resources**|**89,187**|**-**|**89,187**|
|**Expenditure**|**(643,656)**|-
-|**(643,656)**
**(643,656)**|
|**Transfer from general fund**|**(12,437)**|-
-|**(12,437)**
**(12,437)**|
|**Net income from investment**|-|709,236
709,236|**709,236**
**709,236**|
|**At 31 December 2021**|**5,255,979**|**2,182,321**|**7,438,300**|
||**General**|**Unrealised**|**Total**|
||**undesignated**|**revaluation**|**unrestricted**|
||**funds**|**reserve**|**funds**|
||**£**|**£**|**£**|
|**At 1 January2020**|**6,150,086**|857,224
857,224|**7,007,310**
**7,007,310**|
|**Incoming resources**|**111,203**|-
-|**111,203**|
|**Expenditure**|**(431,404)**|-
-|**(431,404)**
**(431,404)**|
|**Transferfrom general fund**|**(7,000)**|-
-|**(7,000)**|
|**Net income from investment**|-|615,861
615,861|**615,861**|
|**At 31 December 2020**|**5,822,885**|**1,473,085**|**7,295,970**|
##
##
||||**Balance at**||**Transfer from**||**Balance at**|
|---|---|---|---|---|---|---|---|
||||**1 January**||**General**||**31 December**|
||||**2021**|**Incoming**|**funds**|**Outgoing**|**2021**|
||||**£**|**£ **|**£**|||
|**Food **|**Poverty **|**Project**||**88,760**|**12,437**|**(101,197)**||
|||||**88,760**|**12,437**|**(101,197)**||
##
||**Balance at**||**Transfer from**||**Balance at**|
|---|---|---|---|---|---|
||**1 January**||**General**||**31 December**|
||**2020**|**Incoming**|**funds**|**Outgoing**|**2020**|
||**£**|**£ **|**£**|||
|**EduHaitian**|**1,213**|**80**|-|**(1,293)**||
|**Attacked Not Defeated**|**920**|**18**|-|**(938)**||
|**Social Isolation Project**|**-**|**2,500**|**7,000**|**(9,500)**||
||**2,133**|**2,598 **|**_______ 7,000**|**(11,731)_____________ -**||
##
##
##
##
||**Unrestricted**|**Restricted**|||
|---|---|---|---|---|
||**fund**|**fund**|**Total**|**2020**|
||**£**|**£**|**£**|**£**|
|**Tangible fixed assets**|**4,553**||**4,553**|**2,315**|
|**Investments**|**7,161,072**||**7,161,072**|**10**|
|**Current assets**|**364,584**||**364,584**|**7,360,519**|
|**Current liabilities**|**(91,909)**||**(91,909)**|**(66,874)**|
||**7,438,300**|**-**|**7,438,300**|**7,295,970**|
##
##
##