2022-12-31-accounts - The Clare Foundation Ltd

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Trustees' Annual Report	1-7
Report ofthe Independent Auditor	8-12
Statement of Financial Activities	13
Balance Sheet	14
Statement ofCash Flows	15-16
Principal Accounting Policies	17—20
Notes tothe Financial Statements	21-31

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					2022	2021
					Total funds	Total funds
					f	6
Cash flows from operating activities:
Net cash provided by operating activities					(696,779)	(671,995)
Cash flow from investing activities:
Dividends, interest and rents from investments					63,635	85,760
Purchase ofproperty, plant and equipment					(287)	(3,304)
Proceeds from sale of investments					2,803,791	1,797,504
Purchase ofinvestments					(2,603,254)	(1,285,347)
Net cash from/(usedjin investing activities					263,885	594,613
Change in cash and cash equivalents	in	the reporting		period	(432,894)	(77,382)
Cash and cash equivalents at 31December 2021					539,415	616,797
Cash and cash equivalents at 31December			2022		106,521	539,415
					2022	2021
					Total funds	Total funds
					6	6
Reconciliation ofnet income/(expenditure)			to net	cash flow from
operating activities:
Net income for the reporting period	(asper the statement of
financial activities)					(1,974,698)	142,330
Adjustments for:
Depreciation					1,766	1,066
(Gains) on investments					1,298,317	(709,236)
Dividends, interest, and rent from investments					(63,635)	(85,760)
Decrease in debtors					29,121	(45,430)
Decrease in creditors					12,350	25,035
Net cash provided (used in/ operating		activities			(696779)	(671995)
					2022	2021
					Total funds	Total funds
					t	E
Analysis ofcash and cash equivalents Cash in hand					89,800	288,268
Cash awaiting investment Total cash and cash equivalents					16,721 106,521	251,147 539,415

		At 1January	Cash flow	At 31December
		2022		2022
		f.	6	6
Analysis ofchange in net debt
Cash in hand		288,268	(198,468)	89,800
Cash awaiting	investment	251,147	(234,426)	16,721
Total cash and	cash equivalents	539p415	(432,894)	106,521

Donations and	legacies
		Unrestricted	Restricted	2022	Unrestricted	Restricted	2021
		funds f	funds f	Total f	funds f	funds f	Total f
Donation income:
Individuals					427		427
Total voluntary	income				427		427

Charitable activities inco	me
	Unrestricted	Restricted	2022	Unrestricted	Restricted	2021
	funds f	funds f	Total f	funds f	funds f	Total f
Family Angels		10,000	10,000
Food poverty project					88,760	88,760
Grants
Charity development
programmes	2,000		2,000	3,000		3,000
Total	2,000	10,000	12,000	3,000	88.760	91,760

Costs ofraising funds	Costs ofraising funds	Costs ofraising funds	Costs ofraising funds
				Unrestricted		Restricted		Restricted	Basis of
					funds	funds	Total	funds	allocation
					2022	2022	2022	2021
					f	f		f
Investment		management		costs	45,072	45,072		53,300	Direct
Total					45,072	45,072		53,300
Charitable	activities		expenses
				Unrestricted	Restricted	2022 Unrestricted		Restricted	2021
				funds f	funds f	Total f	funds	funds	Total f
Family Angels					17,859	17,859
Food poverty		project						101,197	101,197
Grants (see	below)			426,223		426,223 349,473			349,473
Charity development
programmes				262,862		262,862 240,883			240,883
Total				689,085	17,859	706,944 590,356		101,197	691,553
						Activities		Support
						undertaken		costs	Total
						directly f		(note 9)	2022 f
Family Angels						17,859			17,859
Food poverty		project
Grants (See note 7)						400,723		25,500	426,223
Charity development			programmes			181,370		81,492	262,862
Total2022						599,952	106,992		706,944
						Activities	Support
						undertaken		costs	Total
						directlyf	(note 9)		2021 f
Food poverty	project					84,523		16,674	101,197
Grants (See note 7)						327,315		22,158	349,473
Charity development			programmes			162,803		78,080	240,883
Total 2021						574,641	116,912		691,553

Notes to the	fina	nci	al statements
Grants
				2022	2021
				E	E
Grants to institutions	by	project:
Children activities				142,028	114,250
Community pa rtnerships Charity infrastructure Financial insecurity				19,145 3,570 30,500	13,350 37,648 35,000
Food projects Health and wellbeing				6,200 83,650	3,000 87,438
Environmental activities				47,000
Homeless support Social isolation				67,630 1,000	11,111 25,518
				400,723	327,315
				2022	2021
				E
Grants to institutions:
Grants greater than	E5,000
Wycombe Homeless Connection 2nd Amersham on the Hill Scout Group				64,500	25,000
Linden gate PACE				25,000 25,000	25,000
Thames Hospice					25,000
Princes Trust				20,9&6
Child Bereavement				20,800
Citizens Advice				20,000	25,000
Tall Ships St Thomas' Church	DCC Holtspur			19,120	19,450 15,000
DEBRA				16,000
Chiltern Rangers Buckinghamshire Community			Boards	15,000	13,350
Epilepsy Society Heart of Bucks				10,000 10,000
Action4youth Peter Jones Foundation				10,000 10,000	10,000 10,000
Maytree Suicide Respite Helen & Douglas House		Centre		10,000 10,000
Chiltern Rangers				10,000
Buckinghamshire Culture (BNU)				10,000
Youth Concern Buckinghamshire				10,000
Dogs Trust The Furniture Makers' Company					10,000 10,000
Transitions UK					10,000
Woodrow House					10,000
Outward Bound					7,200
Restore Hope					7,000

Notes to the financial statements
Been There		6,900
Inspire Bucks	6,050
Thomley Hall Centre	5,500	5,200
Bucks Older People Action Group	5,000
Follyfoot 18Grants off2000tof5000(2020:11)	5,400 51,320	78,008
Other Grants under f2,000	21,047	15,207
	400,723	327,315

					Costs of
			Charitable		raising	2022	2021
			activities	Governance	funds	Total	Total	Basis of
			f	f	f	f	f	allocation
Marketing	including
website			4,628			4,628	18,154	Direct*
Promotional		projects	1,173			1,173	572	Direct'
Grants			400,723			400,723	327,315	Direct'
Family Angels			17,859			17,859
Food poverty		project					84,523	Direct*
Cost ofseminars			10,954			10,954	7,724	Directs
Employment		costs	219,827			219,827	200,540	Staffing
Building costs			21,725			21,725	24,747	Direct*
Office costs			5,057			5,057	5,514	Staffing
Travel costs			3,826			3,826	2,381	Staffing
ITexpenses			11,993			11,993	11,672	Staffing
Depreciation			1,766			1,766	1,066	Direct*
Audit &accountancy				6,870		6,870	7,290	Governance
Legal &professional			375		45,072	45,447	53,323	Direct*
Bank charges			168			168	32	Staffing
			700,074	6,870	45,072	752,016	744,853

otal exp	enditure	includes:
			2022	2021
			E	E
Auditors	remuneration:
	Audit services		6,870	6,450
	Non-audit	services		840
Depreciation:
	Tangible	fixed assets	1,766	1,066

Analysis	ofsu	pport c	osts
					Admin &	Information		Total
				Governance	Finance		Technology	2022
				f	E			E
Grants					25,500			25,500
Charity	development		programmes	6,870	62,629		11,993	81,492
Total 2022				6,870	88,129		11,933	106,992
					Admin &		Information	Total
				Governance	Finance		Technology	2021
					E		E	E
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
Basis ofallocation				Direct	Direct		Direct
10	Employees
					2022		2021
						E		E
Wages	and salaries				195,434		178,295
Social security		costs			17,748		13,669
Pension	costs				5,949		5,348
Staff training		&recruitment			696		3,228
					219,827		200,540

	2022	2021
	Number	Number
Employees	4	4

Tangible fixed assets
	Fixtures,	Computer	Total
	Fittings &	Equipment
	Office	&Software
	Equipment
	f
Cost
At 1January 2022	2,410	3,707	6,117
Additions	287		287
At 31December 2022	2,697	3,707	6,404
Depreciation
At 1January 2022	884	680	1,564
Charge for year	530	1,236	1,766
At 31December 2022	1,414	1,916	3,330
Net book value
At 1January 2022	1,526	3,027	4,553
At 31December 2022	1,283	1,791	3,074

14	Debtors
								2022	2021
								f	f
	Trade debtors
	Prepayments							5,789	2,943
								5,789	2,943
14a	Social Investment	loans
								2022	2021
								f	f
	Social investment	loans						41,406	73,373
								41,406	73,373
	Included in the total		above,	f14,000(2021:f41,406) is due		in greater than		1year.
	The social investment		loans	are interest	free and repayable	over	up to 36	months.
15	Investment assets
	All investment assets are held primarily				to provide an investment		return.
								2022 f	2022f
	Quoted investments						5,411,071		6,909,925
	Cash awaiting investment							16,721	251,147
							5,427,792		7,161,072
	Market value at 1	January 2021					6,909,925		6,712,836
	Additions at cost						2,603,254		1,285,347
	Disposal proceeds						(2,803,791)		(1,797,596)
	Investment gains						(1,298,317)		709,338
	Market value at 31		December 2022				5,411,071		6,909,925
	Historic cost of investments			as at 31December 2022			4,843,256		4,977,081

Investments	at market value	at market value	comprised	2022	2021
				f	E
Bonds				889,422	909,689
Gold and precious metal				169,378	208,797
Private equity				560,752	544,162
Property				249'212	264,840
Equities			3,542,308		4,982,437
Cash				16,721	251,147
Total			5,427'792		7,161,072
All investments	are	held within	the UK and at 31December 2022 investment	holdings	in excess of53S
ofthe total portfolio were as follows:
				2022	2021
Vanguard FTSE UK		All Share Index		7.313S	-'Yo
Scottish Mortgage		Investment	Trust	-3S	5.289o
Creditors: amounts		falling due	within one year
				2022	2021
				E	E
Trade creditors				2,409	3,829
Accruals				95,259	80,447
Social security	and other taxes			5,561	5,284
Other creditors				1,030	2,349
			104,259		91,909

Minimum lea	se	payments fall due as follows:
			2022	2021
			E	E
Other operating		leases
Due in 1year			19,500	19,500
Due between	2	to 5years	43,875	63,375

Notes to the financial stat	Notes to the financial stat	ements
Fund movements summary
		Unrestricted	Restricted
		funds	funds	Total
		(note 19) f	(note 20) f	funds
At 1January 2022		7,438,300		7,438,300
Incoming resources		65,635	30,000	95,635
Expenditure		(734,157)	(17,859)	(752,016)
Transfer from general	fund	(20,000)	20,000
Unrealised gain		(1,298,317)		(1,298,317)
At 31December 2022		5,451,461	12,141	5,463,602
		Unrestricted	Restricted
		funds	funds	Total
		(note 19)f	(note 20) f	funds f
At 1January 2021		7,295,970		7,295,970
Incoming resources		89,187	88,760	177,947
Expenditure		(643,656)	(101,197)	(744,S53)
Transfer from general	funds	(12,437)	12,437
Unrealised gain		709,236		709p236
At 31December 2021		7p438,300		7,43S,300
Unrestricted funds
		General	Unrealised	Total
		undesignated	revaluation	unrestricted
		fundsf	reserve f	funds
At 1January 2022		5,255,979	2,182,321	7,438,300
Incoming resources		65,635		65,635
Expenditure		(734,157)		(734,157)
Transfer from general	fund	(20,000)		(20,000)
Net income from investment			(1,298,317)	(1,298,317)
At 31December 2022		4,567,457	884,004	5,451,461

			General	Unrealised	Total
		undesignated		revaluation	unrestricted
			funds 6	reservef	funds
At 1January 2021			5,822,885	1,473,085	7p295,970
Incoming resources			89,187		89,187
Expenditure			(643,656)		(643,656)
Transfer from general fund			(12,437)		(12,437)
Net income from investment				709,236	709,236
At 31December 2021			5,255,979	2,182,321	7,438,300
Restricted funds
	Balance at		Transfer from		Balance at
	1January		General		31December
	2022	Incoming	funds	Outgoing	2022
			6		6
Family Angels		10,000	20,000	(17,859)	12,141
		10,000	20,000	(17,859)	12,141

			Balance at		Transfer from		Balance at
			1January		General		31December
			2021 6	Incoming f	funds 6	Outgoing	2021 6
Food	Poverty	Project		88,760	12,437	(101,197)
				88,760	12,437	(101,197)