Community Foundation LEICESTERSHIRE & RUTLAND HerG4. DLthess ol predent.. thSK Lwrertr Hthyafd KCVO OB£ JP VTh pre6M5.. ThÈ RL FS)n ColeSS ofGainsbDrough LVO DL Mr ian McApine 08E DL kls SlephaThe Morgan QPM If Rith Moore LLB FRs Chatr.. Mr Sluafl Dwkins Hon Tretsurar. Mr Trevoi Shaw rd of TrustO85'. Mr Dave Ar19 Mr Robin Clarke Mr Jonathan Cotton Ju511ne Flac m Jenny Hand Mr lèn McCormaL Mr Riaz Raval Mr Mark Robmn Drvijay Shamia The Rowleys Partnership Ltd Registered Auditors Charnwood House Harcourt Way Meridian Business Park Leicester LE19 IWP Dear Sirs The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your audit of the charitable companvsfinancial statements forthe year ended 31 March 2022. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief. General l. We have fulfilled our responsibilities as directors / trustees as set out in the terms of your engagement letter. under the Companies Art 2006 and Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accountin8 Standards (United Kinedom Generally Accepted Accounting Prarticel. for being satisfied that they give a true and fair view and for making accurate representations to you. 2. All the transactions undertaken by the charitable company have been properly reflected and recorded in the accounting records. 3. All the accounting records have been made available to you for the purpose of your audit. We have provided you with unrestricted access to all appropriate persons within the charitable company and with all other records and related information requested. including minutes of all management and trustee meetings and correspondence with The Charity Commission. 4. The financial statements are free of material misstatements. including omissions. 5. The effects of uncorrerted misstatements are immaterial both individually and in total. uItCOMMVll ITY FOUtyItsA TIONS ", A- MEMBER Reg&8ier•J Offic 3 cIre sireet LeterlE1 5LR Te.. 0116 262 4916 EMI". 9t¥nts@IircomiThunityfourHJaiion org.uk W•bw¥Y¢ Il[(OTtimLJn0VTr8li0n org uk R8gi5t•red In Engiano and Wales C•wry No. 04851054 Rwjsld Ch*ity No. 1135322
Internal control and fraud 6. We acknowledge our responsibility for the design. implementation and maintenance of internal control systems to prevent and detert fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. 7. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements. 8. We have also disclosed to you all information in relation to allegations of fraud or 5uspetted fraud affecting the entivs financial statements communicated by current or former employees, analysts, regulators or others. Assets and liabilities 9. The charitable company has satisfactory title to all assets and there are no liens or encumbrances on the charitable companrfs assets. except for those that are disclosed in the note5 to the financial statement5. 10. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 11. We have no plans or intentions that may materially alter the carrying value and, where relevant. the fair value measurements or classification of asset5 and liabilities reflected in the financial statements. Accountlng estimates 12. The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures. are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework. Loans and arrangements 13. The charitable company has not granted any advances or credits to. or made guarantees on behalf of, directors other than those disclosed in the financial statements. Legal claims 14. We have disc105ed to you all claims in connertion with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. Laws and regulations 15. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements. Related parties 16. Related party relationships and transartions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matter5 which require disclosure in order to comply with legislative and accounting standards reqtjirements. UKCOMUNITY FOUWDA TIQN$ . MEMBER R•91j ¢Xre 3 Wycjffte 5treei. Leicster LE1 5LR Teleplyn. 0116 262 4916 Em8#." grantsngiiioDmmun1tyfoundaiitsil t)rg Lik Vbwww Iircommunoytoulldaiion org uk Regred In ErKJlarK and Wa$ PJ. w51054 R8g*erea Chwty No. 1135322 4vALITY&CCAEDITElTr•v FOuwftaTffjwS
Subsequent events 17. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. Going concern 18. We believe that the charitable compan5 financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charitable companvs needs. We also confirm our plans for future actionlsl required to enable the charitable companrfs to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relatin8 to the charitable companws ability to continue as a going concern need to be made in the financial statements. Grants and donations 19. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. Restricted grants and donations are included in the financial statements. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that so far as we are aware. there is no relevant audit information needed by you in connection with preparing your audit report of which you are unaware. Each director has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that you are aware of that information. Yours faithfully Signed on behalf of t Date e Board of Trustees VlfCOMMUIIITY FOVNOA TIONS - MEMBER R8gtknJ OfkA 3 Vfydrffe Stieei tel51e[ LE1 5LR Td8ffi.' 0116 262 4916 Em4d.' 9ranis@Ilrcommunityfoundalion org uk b."WWw Ii[COinMunityfoiaIn org uk Rogtsternd in Erynd arKI Ctynpony No. 04851054 Re9thrnd Ch•rty No. 1135322
LEICESTERSHIRE. LEICEsfER AND RUTLAND COMMUNITY FOUNDATION ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Rrfi5tered in England & Wales Cornpany No. ts1851Q54 Charity No. 113532Z THE ROWLEYS PARTNERSHIP LTO CHARTERED ACCOUNTANTS CHARNWOOD HOUSE HARCOURT WAY MERIDIAN gUSINESS PARK LEICESTER LE19 IWP
LEICESTERSHIRE, LEICESTER AND RUTLAND COMMuf41TY FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS coKrErits PAGE Reference and adminisirative details Trustees Report Independenl Auditorfs Report 10-13 Staternent of Financial Activities 14 Balance Sheet 15 Statement of Cash Flows 16 Notes to the accounts 17-30
LEICESTERSHIRE. LEICESTER AND RUTLAND COMMUNrrY FOUNDATION REFERENCE AND ADMI141RA7IVE DETAILS PATRON.. er 6race. Tr Duche55 of PRE&DENT'. Lord iieulerthntof Ruthnd, Dr Sir L Howard 08E,JP VICE PRESIDENTS.. TheCoun55 ol Gain51¥)fouKh LVO DL Mr l M¢pine OBE Ms S Morgan QPM Mr R Moore LLP FRICS The l¢iiht M knw, &5hop of Leter{1&ned Au8ust 20221 CHAIR.. Mr S Dawkins HOPIORARYTREASURER.. MrT Shaw OMPAJ4YSECRETARV.' Ms K Green DIRECTORsnRUSTEES.. MI DAMdre lappoiAted 18 IAay 20221 Mr R aarke Mr RJ Cotton Mr S Dawkins Missj Flack Msj Haod larwinted 18 May 20221 Mr l Mccwma Mr R Ravat Mr M RotMnsoN lapwinted 18 May 20221 Lk V Sharma MrTShaw CHIEF EXECUTIVE-. Ms K Green COMPANY NUMBEf¢'. 04851054 CHARITY NUMBER.. 1135322 WE8StTE ADDRESS.. www.Iircommu ndation. REGISTERED OFFICE.. 3Wydrfle StreÉ( LeKester. LEI SLR AUDtroRS.. The Rowleys Partnership Ltd tharn House Harcourt Way merln Pa Leicester LEty IWP BANKERS.. Natwesi Granby street Leicester LEI INVESTMENT MANAGERS: Senator House 85 Q4en VKtoria Street M&G charits PO Box W38 Chdmsford CM99 2XF
LEICESTERSHIRE. LEICESTER AND RUTLAND COMMUNITY FOUNDATION ANNUAL TRusfEES' REPORT The trustees are pleased to present their 3nnual trustee report for the year ending 31 March 2022 which 15 also prepareo to meet the requirements for a directorfs report and accounts for Companies Act purposes. The financial statements have been ppared in accordan with the atcounting policTres set out in the notes to the accounts and comply with the chariws governing document, the Charitie5 Act 2011, the CompaniesAct 2006 and Accounting Reporting by Chanties.. statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland published in Ottober 2019. STRUCTURE. GOVERNANCE AND MANAGEMENT The Community Foundation is a comparry limited by 8uarantee. registered in En813nd and Wales no. 04851054 and its registered charity number is 1135322. Its Memorandum and Articles of Assoeiation. dated July 2CK13. outlines its aim5 for the prom¢xion of any charitable purpose for the beneflt of communities in Leicestershire, Leicester and Rutland. The liability of each member is limited to £1. 2. The Community Foundation realises r($3im5 bygr¥inggrants tocharitableKroups which work dire£t with local needs of all kinds, and by attracting and managing philanthroptc grant-giwng funds with or for local companies, individua15. families. as well as public agencie5. It also rel80rateS dovmaTrt charitable funds for local support, in the 5Plrit of their origlnal intent. The Community Foundation is an independentty constituted and locally managed charitable company. It is part of a network of 46 UK Community Foundations. and a subscribed member of UKCF. RECRUITMENT, APPOIPITMEIAND INDucnoN OFTrUSTEES All members of the Board of Trustees also serve as Directors under the Companies Act 2(N)6. Tnjstees are appoinred at the Annual General Meeting or co-opted wthin the year and voted in at the AGM. The Community Foundation publicly advertises its recruitment for Twstees. to ensure dNersity of backgroLtnd and experience. All Trustees si8n a declaration of frtness to ser¥e and an annual rtatement of interests. undergo a full induction proce55 and intermittenttraininL and are expected to attend at least 75%of meetings. The full Board ofTTU5tees meet5 quarterly. The Finance Panel and the Fund Development Panel also meet quarrerly. Short term working groups are formed for speofic projetts such as events, recrurtment. or poliry alterattons. The charity has an a¢tive Pie5ident, and three Presidents. not subject to re-elettion. Trustees. PSidentS and Vlce-president5 are not remunerated. thou8h may claim reasonable travel expen5e5 to meetings. quallty Standards A rigorou5 Quality Accreditation10A1. a formal measure of management efficacy. assessed by a professional independent body, tskes place every three years. LeKestershiTe and Rutland Community Foundation achieved full accreditation in 2(K)7, in 2010. in 2013, in 2017. and in 2021. Rlsk Managernent The Trustees are aware of the pri)cess requiring them to re8ularty review and assess major risks at)d to mitl8ate the potential impact of these.
LEICESTERSHIRE, LEICEsfER AND RUTLAND COMMUNITY FOUNDATION ANNUAL TRusfEES" REPORT CONnNUED OrÉanisational Structure •nd Pay The Communtry Fovndation's permanent staff are a Chief Executive. a Finance Manager. a GraThts Manager and a Grants Co-ordinator. FelaNce staff are ernployed intemittently for additional support work suth as grants assessments or communications. The Charity makes a pension contribution of 8% for permanent staff nd offer5 flexible workin8 arran8eme)ts and relevant training to all. Trustees give their time freely and none received remuneration in the year. Details of Trustees expenses and related party transactions are disclosed in note 13 to the acwjnts. GDPR Communication and data storage coniinued io be subject to ongoing checks during 2021-22. with formal trainin8 scheiluled ftr later in 2022 to ensure processes are up to date. What We Did: Activitses and PerfomMnce of the Year As in every year. the focus of our work was= Fund Oe¥elopment= increasin8 financial support for lo¢al needs by attracting new, and retainin8 existin& donor and public funds. and reinw8oratin8 dormant trusts. 2. Di5tribirtion of 8rants'. with notab inueased numbers of applitation5 for support from charitable groups working with local needs. Ri8orou5 financial mana8ement, tracking money in and out, reviewng the performance of investments and maintainin8 a lean operating budget. 4. Governance.. review5. projects and sirategies to lead. support or improve operation. Fund Developrnent As usual, the Community Foundation managed three kinds of funds- Endowment Funds.. donors invest for a charstable income.. valuable for kncal communr(ies, as thev create a sustsinable source of support= in 2021122 a total of £77.99412020121 £130.8721. endable Flow Throu h Funf15.' 3 donation is distrib45ted to a timescale specified by the donor or funder. In 2021122 a total of £503,76312020121.. £1.744.1151. Linked Funds.. splittin8 doriations betwèen expendable and endowment to enable both immediate givin& and charitable income lincluded in the above totatsl. Endowment Funds Growing a community endowmeni is a key goal of Community FcMJndation5 because invested fvnd5 provide a valuable local asset a5 well as stable annual charitable income to give as grants for local needs. The Community Foundatlon welcomed The Louisa Fund. giving grants to charr(ies working with homeless people, and The 8rucciani Fund, givin8 8rants to a ranee of community group5 needs. $eral donors aflded to their existing invested funds. between them supporting a wide range of local needs in the crty and counties.
LE1CER$H1RE. LE1cEER AND RiTnAND COMMUNrrY FOUNDAMON ANNUAL TRusfEES' REPORT CONnNUED FlowThrough or spend Down Funds As valuable for urgent issues facing our local communities,"fiow through- fvnds are not invested, but spent within a iimèscale determined by the donor or funder. The Community Foundation was pleased to be chosen to work with the NHS in Leicestershire and Rutland delivering £1.3m over last year and the current year for the Getting Help in Neighbourhoods Adult Mental Hèalth Grants Fund io voluntary groups working to prevent mental ill health and supportin8 people ¢0VerIng from menial ill health. The GHIN F¥nd also allowed time for evaluation and for trainin8 such as Suicide AwaTreSS and Mental Health First Aid. as well as opportunities for groups to connect with each other. Also wèlcome was the new Hinckley & Rugby Building society Communmi Fund- staff voting for the areas of need they wished to support, and for the local charrf(ies subsequently identified and introduced by the Community Foundation. We joined UKCF and other Community Foundations to delivef The Arts Council's Levs Create Jubilee Fund for community eversts celebratin8 the Queen's Platinum Jubslee. Renewed or continued spend down funds from Cambridge and Counties Bank. IM Properties. and others were equally welcomed and distributed in the year. Legacies The Community Foundation worked with sdicitors and individuals to set up grant-giving funds as part of an individual's or famills legacy. Dorniant •nd Inartl¥e Twsts The Foundation continued to work with UKCF and the Charrty ComMissn to identify charf(ies and trusts that have become onerou5 or inactive. transferring assets and LlistributinÉ them in the spirit of the origlnal intent. Exlmlng Donors The Community Foundation doe5 not Simply raise money for local communities.. donors are kept informed of and involved in their funds. to the degree they wish. Ml received an annual port of the activtty of their fund. with several larger thnds makin8 deci510r15 on grants. An online-christmas Dispatches from Communities. event for donors and other stakeholder5 was addre$5ed by the Bank of EnRland'sAndrew Hebden and Deputy Lieutenant Colonel Richard Hurwood. with four local ch3ritsble group5 reporting on their year. Promotln8 the Importance of Supporti local need. •nd the Community Faundatlorfs SeNlce. As fact0-faCe events and neTrIk$ restarted. the Community Foundation staff and Trustees returned to connecting personally with local potential donors and sharing information about local need5. Work continued on designing support for businesses wishing io meet Environmentsl, kKial and Government Goals IESGI Goals. The re-desi8ned website was kept up to date as a first point of contart.
LEICEsfERSHIRE. LEICESTER AND RirrLAND COMMUNrrY FOUNDATION ANNUAL TRusfEES' REPORT CONTINUED Distribution of 8rants The Community Foundation follows rigorous outreach. assessment and reporting processes to ensure that money 80es where needed and is spent fairty and well. balancing donor interests with local needs and a timely responsè to 3pplications. A dedicated phone number remained available and frequently used by applicants and the Grants team attended events to meet groups throughout the uty and counties and share available funds and how to actèss them. The year was notable for an Increase in applications. with corresponding in¢rea5ed work assessin& and subsequently matching as many as possible to available fvnds. Many group5 are facing increased demand5 on their services as well as rising c05t5. The CommLbnrty Foundation wa5 grateful for the support of volunteers and freelancers includin8 Dave Andiews, David ndley. Darren Cotton, knz Daw. Elkn Alctxk. Kat and Christine Holton, and those who sat voluntarily on Grants Panel and the Adsory Group. including Maxine Chambers. Leonie Du 8arry Gurr, Vince Atwood. Helen Oparinde, Annette Kendrick and Chedtli Gore. as well as local authority and NHS persgnnel tncludin8 Sylvia Wight. Noel StnRh, Andy Haves. Louise Richardson, Rachel Dewar. Big Lottery funders, and many other5. Their generous sharing of t¢me. knowled8e and experience of workin8 and Ilving in communities 3cross Leicester, Leieestershire and Rutland Makes the Community Foundation's grant-githn8 better infovmed. further rèaching and more impactful. A total of 191 grants were made to a Wdlue of £529.373 and a detailed in the Grants and G¥vin8 Booklet for 2021-22. available on the Community Foundètion website. or available ès a hard copy on reqyest. Financial Man4ernent As in every year, the Community Foundation tracked and ported all money in as donations and subsequently out as grants, reviewed the perforrnan of investments. and maintsinetl a carefiJl operating budget. Thè Community Foundation model 15 an ultimately self-5U5taining one. The contribution to overheads quested from funders and donors is small. 50 that or more of any donation 8oes to local need but contribute5 to a stable if lean operation. ets from a dissofved charity. ARC, continued to cofttribute and the Communrty Foundation was grateful foi contributions to operatinR costs from private donors. Total income ihe year, including operating grants. new and renewed private funds, dorniant fund transfers and public fund delivery. amounted to £714.182I20221 £1.992.Th)1. Golnz Concern The Trustees have a reasonable exptrtation that the charitable tompany has adequate resources to continue for the foreseeable future and therefore adopt the going concern basis in preparing the financial statements. Further details are in the Accounting Policies. below.
LEICESTERSHIRE. LE1cEER AND RufLANO COMMUNrrY FOUNDATION ANNUAL TRUSTEES, REPORT CONnNUED FINANOAL REVIEW Flnanclal ee and Results fty the Year An overall deficit before gains on investments by the charitablè company of £33612021.. surplus of £277,6571, this w•s rnade up of income from charitable artmties towards the expendable fvnds. After the gains on Investments, the result was an overall 5urplu5 of £283.69612021- £923.0071. This was made up of a 5urplu5 of £13.819 in unrestricted funds, a surplus of £62.516 in restricted fund5 and a surplus of £207,361 in endowment fvnd5. The Communtty Foundation reathed £3.SSrn12021= £3.35rn1 for its endowment fund bv the end ol the year, which will generate approximately £92k to be distributed by the Community Foundation for local needs ea¢h year. The balance of reserves carried forward at the year-end was £4.169,59812021.. £3,885,902). Reserve5 Pollcy At the year end. free reserves stood at unrestricted fvnd5 of £123.378 less fixed assets of £1.787 giving a total of £121.59112021..£108,7331. Restricted funds amounted to £491.58112021:£429,0651. Inve5trnent Pollcv The Trustees invest endowment funds with an objectwe to prode a retum that malntains the real linflation adjustedl value of the capital. whilst also delivering a cash flow to meet charitable giwng and contribute to the operating costs ol the Community Foundation. The Trustees. attitude is categorised as-risk tolerant,- opting to invest in specialist investment fund5 whieh offer a dtversified investment portfolio over a long-term time horizon. The Community Foundation offers a defau allocation for the investrnent of endowrnent funds but an also offer some flexibility to those donors who take an active interest in where their funds are invested or Wlsh to place hJrther ethical YestrTttions on the investments. The TTU5tees' strategy is to follow a total return approach. delivering a predictable return for 8ivin8 thTOU8h income and capital growth. Except for Community First endowment funds. the Community Foundation aims for an income for grant making from its endowment fund5 of 4% eath year. comprising a mixture of investment income and capital growth. This 15 drawn down quarterly to minimise the impact of short-term market variability. Trustees may VIeW thi$ 4% aim to protect capital values. The Community Foundation reviews Investment performance regulady and acts where investment5 are not achievirbg the desired returns within the approved attitude to risk. In addition to the Endowment Funds. the Comrnunity Foundation invested some of its restricted and unrestricted funds. The Trustee5' Strategy for the investment of restrirted funds is to MnIM15e any exposure to capital loss as the capital is re5tritted for giwng in the medivm term. Fund balances are regularly reviewed, and the Twstees, attituile is categorised a5-moderately risk averse.- The Trusiees. strategy for the investment of unrestricted reserves is to provide a return that coniributes to the operating cost5 of the Community Foundation. whilst maintaining the value of the capital for fut¢Jre sustsinability. Trustees reteive quarterly updates on Fund perfomance from the investment rnanagers and meet with them to discuss perforn)ance. During the year. the charity receNed £117.57812021-. £11]8,8031 income from its investments and saw gains of £284,03212021= £645,350) in the market value of inve5tment5.
LEICESTERSHIRE, IEICEsfER AND RUTiAND COMMUNrrY FOUNDATION ANNUAL TRUSTEES, REPORT CONTINUED 4 Governance The Community Foundation created a FNe Year Plan and a FNe Year Finanual Forecastto take the charity through to 2024. To further these plans. three new TrUee5 were recruited wa an open recruitment process, brin8ing addition31 commurticatioAs. financial rnanagement and voluntary Sector experience to the Board. The Trstee induction process was updated. and re8ular staff and boaTd -away evenin85~ to SUPPOrt strategic work and skills development were establishèd. A policy revbew schedule ensured that the increased Thumbers of updated governance polities including Equity. Diversity and Inclusion. Homeworking Procedures, Emer8encv Gr3nts Procedure, and Fraud Prevention were reviewed in fotation at Board mÈetings. Leicestershire and Rutland Community Foundation undertook and passed QAS the fifth national Quality Accredilation. a fornial measure of managèment efficaty. as5e55ed by a professional independent bodv. Plans ft>r 2022-23 Our core aims will not changè: thè priorityfor the Community Foundation will be to maintsin and grow levels 01 financial support wa thoughtfvl and informed grant-gNin& to Strengthen our k1 communitbes. The pandemic highlighted howdeeptysomecommunf(iesareaffected by inequity. and predittions of ris¢nBcost5 ¢)ver the next five years means the Community Foundation will need to work hard tg hdp miti8ate efferts on l¢xal wmrnunities. Fund Devlopmnt The Community Foundation will set up 3 new Fund Development Panel to develop focus on increasing both profile and revenue for grant givin8. This work will lead to the appointsnent of a paid Fund Development role. with a focus on building endowment. which is one of the most stable and effective long-term mechanisms for offerlng sUPPOrt for local community need& It will renew focus on de¥elopin8 a fullercommunications strategy. and the design of a staff rolè to support this. For -flow through- fvnds, work will continue on developlng straightfonvafd mechanisms for local companies meetingtheir ESG goals. Buildin8 on thè suctessÈs ol the N3tional ErnerceThciesTrust. government 8rant delivery and NHS Gettin8 Help in Neighbourhoods Adult Mental Health Fund. the Community Foundation will continue to seek public funds to work alongside private philanthropic funds to help local communities in upcoming challen8in8 times. t)ormant assets and trusts will also be a focus. Grants In addition to the usual workload of encouragin& supportin& a$5essin& deliverin& and trackin8 grants acioss Leicester. Leicestershire. and Rutland. the Communrty Foundation plan5 to review its Grants panel and Advisory Group struetvres and the support offered to these. as well linking wr(h UKCF programmes team lor national pro8rammes. It will continue to increase contact with funded groups lat application, midpoint, and completionl to build understanding of their work. local challenges. and the impact they make. and to develop data capture and reportin8 for private donors, public funders, and its own practice, to inform on key local need5. It will continue to support the Lord kneutenant of Leicestershire's workstream for the Queens Award for Voluntary Service.
LEICESTERSHIRE. LEICESTER AND RUTLAND COMMUNITY FOUNDATION ANNUAL TRUSTEE5' REPORT CONTINUED Financ• The 50ftware that supports financial operation will be reviewed and replaced rf necessary. Administrative support will be reviewed. as the number of funds grows. Governancè Regular Trustee and staff trainin8 and strategic focus will continue intermittent "away evenin8s." A new Trustee led Fund Development Panel will start work on supporting fund development and the appointment of a staff role for this as well driving an increase in contact with those who may wish to hoSd grant giving funds and ovefseein8 development of Enwronmental. Social and Governance IESGI goals and values. Publlt Ben The Trustees have paid due regard to the Charity Comrnission's guidance on public benefit in reviewing existing work and planning future artivitie5. The Communrty Foundation works to support the diverse tommunities of Leicester. Leicestershire, and Ruiland by attracting and distributing prNate philanthropic. company and publ¢c funds. and ¥einvigorating dormant charit3blè trusts. Funds are distributed to local charitable Broup5 working to reduce local need and improve local qualty of life. and considerable work takes place to ensure a5$ to funds is equitable and far reachin£ as well as impactful_ Consistent work has been undertaken to attratt and support family. individual and company donors to engage with local need5, and the charitable and voluntary groups working to meet those needs. Considered initiatives. netWOTk5. social and traditional media have reached to potential donor5 and to charttsble group5. The Community Fourndation continuedto maintain intelligence aboutthe local area. and grantspend was monitored. Staff are available to asst donors and charitable group5. and the Comrnunity Foundation continued to work in as cost-effective manner as possible. with the TEe majority lusvally 90% or overl of all funds rnanaged are ehannelled into local giwng.
LEICESTERSHIRE, LEICESTER AND RUTLAND COMMUNrrY FOUNDATION ANNUAL TRUSTEES. REPORT CONTINUED TRUSTEES, RESPONSIBILMES FOR THE FINANCIAL ATEmE15 The trustees (who are also the direaors of Leicestershire, Leicester and Rutland Community Foundation for the purpose5 of company lawl are resportsible for preparinE the Trustees, Annual Rèport and the Financial Ststements irb actordance with applicable law and United Kingdom Accountlng Standards Iunited Kin8dom Generally Aceepied Accounting PrartI>. Company law requires the trustees to prepare financial Statements foreach finanoal year. which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, induding the income and expenditurè. of the charitable companyfor that period. In preparing these financial Statements. the trustees are required to.. selert suitable accounting policies and then apply them ConStent- observe the methods and pnnciples in the Chariiy SORP- make judgements and estimates that are reanable and prudent- prepare the financial statements on the goinÈ concern basis unless rt is inappropriate to presume that the charitable company will continue in operation. The trustee5 are responsible for keepin8 proper accounting records which distlose with reasonablÈ accuracy at any time the financial wsition of the charFtsble company and to enable them to ensure that the financial ststements comply with the Companies Act 26. They are also responsible for safeguarding the a55ets of the ¢haratable company and hee for takin8 reasonable steps for the pre¥ention and detection of fraud and other irregularities. In so far as the trustees are aware.. there 15 no relevant audit information of whKh the charitsbse companWs auditors are unaware.. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevani audtt tnformatyon and to establish that the auditors are aare of that infomiation. This report h35 been prepared in accordante wtth the special provisions of Part IS of the Companie5 Act 2006 relating to small companies. Approval This report was approved by the Trustees on and siened on their behalf. Z l (£n¥n6£/L >3 Mr S Dawklns Chair of Trustees
io LEICESTERSHIRE. IEICEsfER AND RUTiAND COMMUNITY FOUNDATION ANNVAL REPORT ANO FINANCIAL STATEMENTS REPQRTOF THE INDEPENDENT AUDITORSTO THE TRUSTEE5 OF IEICESTERSHIRE. LÉICESTER ANO RUTLAND COMMUNifi FOUNDATION Opinion We have audited the finaficial statements of le1ceer$hIrt. Leicester and Rutland Community Foundation (the 'charitable companw) ftsr the year ended 31 March 2022 which comprise the Statement 91 Financial Activities. the Balance sheet. the Cash flow Statement and notes to the financial statement5, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standartls IUnf(ed Kingdom Generally Accepted Accotjnting Pfarticel. In our opinion. the financial statement5.' give a true ant1 fair view of the state of the charbtable companrfs affairs as at 31 March 2022. and of its ncoming resources and application of re50urtes. including its income and expenditure. lor the year then ended.. have been propedy prepared in accordan with United Kingdom Generally Accepted Accounting Practice.. and have been prepared irtr accordance wf(h the requirements of the Companies Act 26. asis for opinion We conducted our audit in accordan with Intern3tion41 Standards on Auditin8 IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are lurther described in the Auditors, resporsibilitie5 for the audit of the riff ancial statement5 5ertion of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statement5 in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical resptsnsibilities in accordance with these requirernents. We believe that the audit evidence we ha%E obtsined is sufficient and appropriate to provide a basi5 for otsr opinion. Conclusions relatlng to going concem In auditing the financial statements. we have concluded that the tru5tees' use of the Koing concern ba5$5 of a¢¢ounting in the preparation of the financial statements is appropriate. Based on the work we have pertormed, we have not entified any material uncertainties relating to events or condition5 that. individually or collettively, rnay cast 5i8mificant doubt on the charitable cornpanvs ablllty to continue as a going concern for a period of at leay e1Ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goirg toncern are described in the relevant sections of this report. Other inforniation The trustees are responsible for the other infomiation. The other information comprises the information included in the Annual Report. other than the financbal statement5 and our Report of the Independent Auditors thereon. Our opinion on the financial statement5 does not cover the other inforMatn and, except to the extent otherwise explicr(ly stated in our report. we do not express anyform of assurance conclusion thereon. In connection with our audrt of thefinancial ststements. our responsibility ¢5to read the other information and. in doing so. consider whether the other information is materially incon515tent with the financial statements or ourknowledge obtained in the auditorotherwise appear5to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements. we are required to deterrnine whether this give5 rise to material miSaternent in the financial Statemènts themselves. If. based on the work we have performed, we
li LEICESTERSHIRE. LEtCEsfER AND RUTLAND COMMUNITY FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS REPORT OF THE INDEPENDENT AUDITORSTO THE TRUSTEES OF LE1CEER5HIRE. LEICEsfEft AND RUTLAND COMMUNifi FOUNDATION ICONTINUEDI Oth•r information Itontinugdl conclude thai there 15 3 material misstatemént of thks other inforynation, ¥ve are iequired to rewrt that fact. We have nothin8 to report in this regard. Oplnlons on other matters Preribed bythe CompaniesArt 21*)6 In our opinion, based on the work undertaken in the coursè of the audit- the information given in ihe Report of the Trustees for the financial year for which the financial Statements are prepared is con51Stent wth the financial statements,. and the Report of the Trustees has been prepared in attordance with applicable le8al requirements. Matters on whith we are required to report by In the light of the knowledge and understandin8 of the charitable company and its envlronment obtained in the course of the audit, we have not identified material mi55tatements in the Report ofthe Trn5tee5. We have nothing to report in respect of the foll¢)wing matters where the Companies Act 2CQ6 require5 LIS to report to you if. in our opinion.. adequate accounting records have Aot been kept or returns adequate for our audit havè not been received from branches not visited by or the financial statements are rbot in azreement with the accounting records and returns- or certain disclosures of tnJstee5' remuneration specified by law are not made.. or we have not reIVed all the information and explanations we require for our audit.. or the trStee5 were not entitled to take advantsge of the small companie5 exemption from the requirement to prepare a Strategic Report or in preparin8 the Report Of the Trustees. Re5pon51bllltles of trustees As explained more fully in the Statement of Trustees. Responsibilits. the tru5tee5 Iwho are a150 the direttors of the charitable company forthe purposes of company lawl a responsible for the preparation of the financial statements and for being satisfied that theyKive a tweand fair view. and for such internal control asthe trustees determine is nece55ary to enable the preparation of financhal statements that are free from matehal misstatement whether due to fraud or error. In preparing the financial statements, the trustees are re5pon5ible forassessing the charitable cornpanvs ability to continue a5 3 goine concern. distlosin& as applicable, matters related to 80in8 ConieTn and usin8 the 80in6 concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor responsibilibes for the audit of the fin•n¢ial statsments Our objectives are to obtain reasonable a55urance about whether the finanual statements as a whole are free from material mi$5tatement. whether due to fraud or error, and to Issue a Report of the Independent Auditors that includè5 ouropinion. Reasonable assurance isz high level of a$5urance. but is not a guarantee that an audit ondurted in accordance w¢th ISA% IUKI will always detect a material misstatèment when it exists. Misstatements can arise from fraud orerrof and are considered material if. individually or in the 388re8ate, they could reasonably be experted to influence the economic decisions of users tsken on ihe basis of these financial statements.
12 LEICESTERSHIRE, LEICEsfER AND RUTLAND COMMUNTfY FOUNDATION ANNUAL REPORT AND FINANaAL STATEMEPUS REPORT OF THE INDEPENDENT AUDrroR5 TO THE TRU5TEE5 OF IEICE5TERSHifte. LEICESTER AND RUTLAND COMMUNifi FOUNDATION ICONTINUEDI Auditor responslbllftles for the audit of the finandal statements Icontinuedl The extent to which Dur procedures are capable of detectin8 irregulaTlties. includin8 fraud is detailed below.. We obtained an understanding of the legal and re8u1atory frameworks that are applicable to the charitable company and determined that the most Significant which are dirertly relevant to specific assertions in the financial statements are those related to the frnancial reporting frameworks IUK Generally Accepted Accounting Practi. the Companies Act 2006. the Char¥ties Act 20111 and the relevant tax complTance regulations in the jurisdiction in which the chariiable cornpany operates. We enquired of manaRement. whether theywere aware of any instances of non-compliance with laws and re8ulatiors or whether they had any knowledge of athial. susperted or alleged fraud: We assessed the 5us¢eptibility of the entity's financial 5tatemert5 to material misstatement, includin8 how fraud mi8ht occur.. Our testing considered unusual or unexpected journal entries on a sample basi5.' We evaluated the assumptions and judgements used by management within signifficant accounting estimates and assessing if these indicate evidence of management bias.. We tested significant trnnsactions. in partscular the evaluation of the business rationale for any which appear unvsual or outside the charitable Company's normal course of bu5ines5.' We a55essetl the apprgpriateness of the collertive competence and capabilities of the engagement team by understanding the practical experlence with audit engaBernents of a similar nature and complexity, plus ensurin8 the team had appropriate and relevant trdinin8 of the financial reporting frarnework and the relevant tax compliarhce regulations specific to the entity., We reviewed the financial statements and tested the disclosures against supporting documentation- We communicated relevant matters to all member5 of the avdit team to ensure they underslood the rtrsks specific to the enttty and the audit procedures planned to mttl8atethese. Because of the inherent limttatbons of an audit. there is a risk that we will not detect all irregularities. includin8 those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or gulatIon is removed from the events and transactions reflected in the fTnancial statements. as we will be less likely to become aware of instances of non-compliance. The risk Is also sreater regarding irre8ularittes xcurrin8 due to fraud Yather than error. as fraud involvès intentional concealment. forgery. collusion, omission or misrepresentation. A further description of our re5ponsibilTlies lorthe audit of the financial statements is available on the Financial Reporting Council's website at www.IrLor auditoisres onsibilities. Thi5 deseription forms part of our Report of the Independeni Auditors.
13 LEICEsfERSHIRE. LEICEsfER AND RUTLAND COMMUNITY FOUNOATION ANNUAL REPORT AND FINANCIAL STATEMENTS RepoRT OF THE INDEPEP4DE14T AUDfToRS TO TME TRUSTEES OF LE1CERsH1RE. LEICESTEft AND RullAND COMMUNITY FOUNDATION ICONTINUEDI Us¢ of our report This report 15 made solely to the charitable companV5 trustees, as a body, in accordance with Chapter 3 of Part 16 01 the Companies Art 2Crf)6. Our audit work has been undertaken so that we might state to the charitable companTrls trUeeS those rnatters we afe 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 a55urne responsibility tg anyone other than the charitable company and the charitable compan(s trustees as a body. for our autlit worl for this report, or for the opinions we have formed. Mrs L G Parke5 ACA KCA Iknior Statutory Auditorl For and on behalf of The Ro¥A*ys Partnershlp Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Wav Meridian Business Park Leicester Leicestershire LE19 IWP Dated..
14 LEICEsfERSHIRE. LEICESTER AND RitrLAND COMMUNtrY FOUNDATION STATEMEP4f OF FINANCIAL AcrivtfES {Inrorporathw the In¢ome and Expenditure attountl FOR THE YEAR ENDED 31 MARCH 2022 Not• lknrestrKted PÈstrkted Endowmert Funds Trtal 2022 Trta 2021 Income andendty4Jmtrhtslrom Donabons and le8acie5 InveStt Income 54.S26 1.726 34338 ?0.178 25.923 115.852 52,071 150,627 117,S78 431.130 14,847 282,411 108303 1.592.576 Charitsblea¢tiTrAtie5 344.721 10,847 Other Tot* ffl¢rffie and ejrn¢Nts 94590 425.746 193A46 714,182 1?92.790 Eyfi&rture Raisingfvnds Charitsbleacti¥itses 461181 99306 46,361 668,157 45,329 1,669,804 568,851 expenditwe 145387 569.131 714.518 1,715.133 Net $/I70e$l C IS 13A361 287,868 284,032 645.350 Incne1¢eXPendftur¢I 154.6331 11433851 481.714 283.696 92107 Trr5 btMenlurM15 20121 68A52 205,901 1274,3511 Net olfvnds 13A19 62516 207.361 283,696 923m7 Rewn010 olfvrm Totsl funds brOughtforrd 109559 429.065 3.347.278 3185,902 2,96ZA9S Totlfunds wledforw¥d 123,378 491,581 3554,639 4.169,598 3,885.902 The statement of Finanaal Actiwties intludes all goins and losses recognise(l in the yèar. All income and expendrture derives from continuing activitbes. The rotes on page$ 17 to 30 form part of these finanoal statements.
15 LEICEsfERSHIRE. LEICEsfER AND RUTLAND COMMUNrrY FOUNDATION BALANCE SHEEr AS AT 31 MARCH 2022 1022 2021 Note Fixed Asets Tangibleassets Invesknents 14 1.787 3.649.684 826 15 3.441.962 3.651.471 3,442.788 Current Assets Debtors 16 44.876 492,835 1.325 492.597 Cash at bank and in hand 537.711 493.922 Liabllltles Creditor5= arrounts falli duewithin one year 17 119.5841 150.8081 Ntt Current A55ets 518.127 443,114 4,169598 3.885,902 Total Assets leycurrent Liles 4,169,598 3.885,902 Funds Unrestricted fuTrds Re5tri£ted funds Endowment fund 19 20 21 123378 491581 3.554,639 109,559 429,065 3,347278 Tot Fund$ 4,169.598 3,885,902 These financial statements have been prepared in acco¥dance with the speaal prov(sions ot Part 15 of the Cornpanie5 Act 21J)6 relating to charitsble small companies. The financial statements were approved by the trustees on and signed on t eir behalf, by.. ZI Mr S Dawkins-Trustee Company No. L14851054 The notes on pa8e$ 17 to 30 form part of these financial statements.
16 LEICESTERSHIRE, LEICESTER AND RUTLAND COMMUNrrY FOUNDATION ATEMENf OF fA5H FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Note Cash fvwfrorn op•ratkng arthllles 1191,7271 116,762 Cash fiowfrom tnvestlng actNit Interest dIdendS Paymentsto acquire tangible fixed assets Payments to acquire Tnvestments Pr(xeeds from Sa of investments 117,578 11,9231 175.8401 152,150 108.803 16301 1126,2171 18,990 Nèt cash Ilowfrom in¥estln¥ artr4ils 191.965 946 Net increaselldetreasel In tash and sh equivaknts 238 117.708 Cash and ush equi¥aknts at IAprl 2021 492,597 374.889 Cash and cash equP4abents at 31 March 2022 492,835 492,597 ash and cash quNaltnts cons15ts Ofr. Cash at bank and in hand 492.835 492.597 Cash and cash equr4alents at 31 March 2022 492,835 492,597 The notes on pages 17 to 30 form part of these financial statements.
17 LEICESTERSHIRE, LEICESTER AND RltrLAND COMMUNITY FOUNDATION NOTes TO THE Accoupns-31 MARCH 2022 ACCOUNTING POUCIES The principle accounting policies adopted. judgernents and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. s of preparation of fin¥n¢ial stat•ments Leice5ter5hbre, Leicester and Rutland Community Foundation 15 a p¥iYate company Ilmtted by guarantee, incorporated in England and Wales. The registered Offi is 3, Wycliffe StreeL Leicester. LEI 5LR. The financial statements have been prèpared in accordance with the Charities SORP IFRS 1021'Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191., Financial reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Art 26. The Comrnunity Foundation meets thè definition of a public benefit entrty under FRS102. Assets and liabilities are initially reto8Th¢sed at historical cost ¢Y transaction value unle55 Otherwise stated in the relevant actountin# policy ne(SI. Company Statu5 The company is a company limited byguarantee. The members of the tompany arethe Trustees names on page l. In the event of the company being wound up. the liability in respert of the 8uarantee is limited to £1 per member ofthe company. In¢ome Income is recognised in the period in which the charity is entr(led to receipt and the amount can be rneasured with reasonable certainty. Resour¢es Expended All expenditure is accounted for on an accrua15 basis and has been classified under headings that aggregate all tost5 related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to artivities on a basis consistent with use of the SOUrCeS and budgets available. Salaries have been allocated on a time basis. Grants payable comprises all tranches for which the conditions for payment have been met during the year. Governance costs include those c05t5 associated with meeting the constitutional and statutory requirements of the charity and ol m3intainin2 its quality accreditation to UK Community foundation standards endorsed by the Charity Comrni5si0n. Goini Concern After makin8 appropriate enquifies. the Trustees have a 3$Onable expectation thal the charity has adequate resourcesto continue in operational existencefortheforeseeable fijture. Forthis reason they continueto adopt the 8oin8 concern basis in preparing the financial statements.
18 LEICESTERSHIRE. LEICESTER AND RLrfLAND COMMUNifi FOUNOATION NOTESTQ THE Accouplfs cop¥llNUED- 31 MAROI 2022 ACCOUP4TINfj POUOES Itontinuedl TanKlble fixed assets and depreciation Tangible fixed asset5 Costing more than £100 are capitalised and included at cost of zcquisition. Depreciation 15 pr¢Mded at the following annual rate5 in order to write off the cosi of each assets over its estimated useful life= Computer Equipment Office Furniture 33 113% on Cost 15% Written [kn Value Investments Investments are stated at rnarket value at the balance sheet date. The SOFA includes the net gains and losses ari5in8 on revaluations and disposals throughout the year. Reali5ed galns and10sses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the drfFence between sales proceeds and their opening carrying value on their purchase va5ue if acqu¥red subsequent to the first day of the financial year. Unrealised gains and losses are calculated a5 the difference beh¥een the fair value at the year-end and their carrying value. Realised and unreali5ed investment galns and19$5es are Comb1F in the statement of financial statement5. Funds Unrestricted general futsds are funds which can be used in accordance with the charitable objects at the discretion of the trustee5. Restrirted funds are funds which are to be used in actordance with specific restrictlgns imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specrfic funds. The aim and use of each restrtcted fund 15 set out in the notes to the financial staternents. The endowrnent fund includes funds donated to the Foundation by private and corporate donors. Usually as personally named fund5, invested together and individually tracked so that the income can be distributed regularly to beneficiaries nominated by individual donofs. Any capital gain5 or losses and Income arising on the investrnent5 ftsrm part of the fund. Investment rnanaeÈment charges and le¥al advice rÈlatin8 to the fund are charged against the fund. Value added tam Value added tax is not recoverable bythe Char and as such is included in the relevant costs in the SOFA. Cash * bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Debtors Bawc financi3135sets. includlng trade debtors and other debtors, are initialty reco8nTsed at transaction price. unless the arrangement constrtutes a financing transartion. where the transartion is measured at the present value of the future receipts discounted at market rate of interest. Such assets are Subsequently carried at amortised cost using ihe effective interest method. less any impairrnent.
19 LEICESTERSHIRE, LEICEsfER AND RLrrLAND COMMUNrrY FOUNDATION P40TESTOTHE ACCOUNTS coNnNUED-31 MARCH 2022 ACCOUNTING POUQES (continued} Credltors and provisions Creditors 3nd provisions are reco8nised whère the charrty has a present obligation resulting fvom a past event that will probabty result in the transfer of funds to a thiid party and the amount due to seuje the obligation can be measured orestimated reliably. Creditors and provision5 are normalty rew8nised attheir settlement amount after allowing for any trade discounts due. Flnamlal instryrnents The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recogni5ed at transattÈon walue and subseouently measured at their settlement value with the exceptiov of bank loans which are subsequently measured at amortised c05t U51n8 thè effective interest mèthod. Pensions The pension costs charged in the year represents the amount of the employers. contributions payable to personal pension schemes of the ernployees. Critical accounting estimates and areas of judgement Estimates and jud8ement5 are continually evaluated and are based on histwical experience and other factor5. including expectations of future events thai are believed to be reasonable under the circumstances. Critical accounting estimates and assumption5.' The Company makes estimates and a55umptions concerTbingthe future. The resulting accounting estimates and assumptions will. by definition. seldom equal the related actual results. DONATIONS AND LEGAOES 2022 2021 Donation5 lincluding gift aid receivable) 150,627 282.411 150.627 282.411 Of total Income from donation5 and legacies £54.52612021.. £34,788) was unrestritted. £70.17812021.. £221.0511 was restricted and £25,92312021.. £26,572) was endowmenL INVESTMENT INCOME 2022 2021 Bank interest received Dividends from lisred investments 112 117.466 277 108,526 117,578 108.803 Of total income from investments £1,72612021- £2.33SI was •JnrestriLted, £Nil12021.. £Nill was restric and £1ts,85212021.. £106,4681 wa5 endowment.
20 LEICESTERSHIRE. LEICESTER AND RUTiAND COMMUNITY FOUNDATION NOTES TO ThE Accoupif5 CONTINUED- 31 MARCH 2022 INCOMING RESOURCES FROM CHARITABLE AcnvrnES Grants reied Restricid Funds.. 2022 2021 DCMS Fvnd LLR Coronavirus Fund Building stronger 8ritain Togèther Tampon Tax NET Covid 19 Other Expendable Funds 283,910 25.700 7,574 131 747,476 379,678 1.444,469 344,721 344,721 Unrestricted 34.338 43,807 EndOwrrt Funds 52.071 104,300 Tt)tsl of grants rec•ved 431,130 1,592,576 5. MER INCOMING RESOURCES HMRC Employment JlOwance Grant return (restricted funds) 4,000 10,847 14,847 4.000 5,000 9,000
21 LEICESTERSHIRE. LEICEsfER AND RUTLAND COMMUNITY FOUNDATION NOTES TO ThE Accoup¥fs COlrnNUED- 31 MARCH 2022 RESOURCES EXPENDED ON RAISIP4G FUND5 2021 Stsff tosts A¥ertisini3nd otfio pwis&iTrJ IT 46NI 139 141 46361 42956 iJ94 1294 141 I79 lJJ79 46.081 44250 45 RESOURCES EXPEIIDED ON CHARITABLE AcllviTIE5 (*ènts IseenDtriOI Pr01Ktae5 stsff costs offile,prsts irl tr Trawd uSe5 ProfÈssional ft45 Dyeciatson Fityt105ts.seenote8 250 529J23 250 39J64 114 529373 250 61,696 17117 lJ35571 1535571 21J32 l7,n3 79 919 962 57J41 77IlZ ii,ioJ 919 4,117 6EB 36351 57JJll 4,114 40865 99306 %8J51 51 1.669JDI 8. ANALYSIS OF SUPPORT COSTS Staff costs Trustees expense5 Audit and accountan 50.736 1,012 5293 34.603 822 5.040 57.041 40.465
22 LEICE5fERSHIRE. LEICESTER AND RUTLAND COMMUNITY FOUNDATION NOTES TO THE ACCOUNTS CONTINUED- 31 MARCH 2022 9. RESQVRCES EXPENDED BY FUND (Total of Note 6 and Note 7) GAnts J14 SJJ73 OYICts(Q5ts stsff tysts SIand PTOrnODQn 0pMiSt$ad1T ll9 i.m 13 17,ni ll4 17,978 DepRDatiDn (alIty0(uedltatsQ dii&a((oufflJiq L45Jl 7, gj 26273 10.0)) X1314 10. GKANTS TO ORGANISATIONS 2022 2021 OCMS Fund Leicestershire Fund LLR Coronavirus Fund Women in Philanthropy NET Covid 19 Fund 8uilding a Stronger Brrtain Together Other Expendable Funds Unrestricted Funds 259.410 5.445 62.097 6,097 760.174 12.782 429.566 9.IlXI 26.273 11.539 20.314 461.897 250 529,373 1.535,571
23 LEICESTERSHIRE. LEICEsfER AND RUTLAND COMMUNtTY FOUNDATION P40TES TOTHE ACCOUNTS coi¥llNUED-31 MARCH 2022 11. STAFF COSTS Tot¥ staff numbers and costs 2022 2021 Salaries and wage5 Contract wtsrker fee5 Social security costs Pension costs 126514 9,123 10.582 12,294 113.590 22.040 10.760 8.981 ISS.371 158.513 The average fiumbw of persons eAwloyed by the charity durin8 the year was as follows.. 2022 2021 Full and part-timeanployees Contract workers Pension contributions are made by the ¢harityto the employees, wsonal p*)sions. Atthe year end £Nil was owed to the individual pension SCheI202].. £Nill. The remuneration and benefits rec•ved by key wsonnd during the year were £3533712021: £39.7481. No employts received totsl wnployee benefits IvAcludin8 emplo pension costs) of more than £60.000. 12. AUDITORS REMUNÉRATION The amount paid for the audii was £3.99)12021- £3,8> and £1.30312021- £1.2401 for other accountancy services.
24 LEICESTERSHIRE, LEICESTER AND RirrLAND COMMUNITY FOUNDATION NOTES TO ThE ACCOUNTS COIfflNUED- 31 MARCH ZOZZ 13. TRUSfEES AND OThER REiATED PARTIES The trustee5 are not remunerated for their work as Trustees of the chartty- From time to time, members of the Board or persons connected with them enter into transauions with the charity in the normal COUfse of business of both parties. Such tran5artions are conducted on an arm's length basis. on normal commercial terms. and a in accordance with the specific prowsions of clause 6 of the MemoTandum of Association. There were no related party transactions in the current or previou5 year. Travel expenses patd to nil trustee512021= nil) during the year amounied to £Nil12021.. £Nill. The cost of trustee indemnity insurance taken out by the charity in the year amounted to £1,01212021.. £8221. This insurance was for a level of £250.C(Q12021.. £250.(IJ)I. 14. NXED ASSErs Comwter Equipme Fumitur* Total Cost At l April 2021 Iditions At 31 March 2022 6.054 1,923 7,977 712 6.766 1,923 8.689 712 Depredatk>n At l April 2021 Chargefor theyear At 31 March 2022 5.357 943 583 5.940 962 19 6.300 602 6,902 Net book Al 31 March 2022 1.677 iio 1.787 At 31 March 2021 697 129 826
25 LEICESTERSHIRE, LEICESTER AND RittiAND COMMUNITY FOUNDATION NOTESTO THE Accoupifs CONnNUED- JI MARCH 21)22 15. INVESTMENTS Market valuè at l *¥Jril 2021 ditions 3,441,962 75.840 1152.1501 284,032 3,649.684 Dlsposal proceeds Net investment gainslllossesl Marketvalue at 31 March 2022 Historical cost at 31 March 2022 2.431.895 Investments are represented bv.. UK fixed interest invesmRnts 80.949 295,580 3.273,155 3,649.684 Property InvesDnw)ttrusts All investments held are to prowde an investment return and are listed investments. The market information relattn8 tothe past perfomianee of investments is necessarily an indiotion to their future performance. The value of investments of income from them may go down as well as up. The value of Investments may rise or fall due to the volatility of world market5. interest rates and capital values or. for investments held in overseas mafkets. dueto thanges in theexchange rate in currency in which the investments are denominated. Included above are investmènts with holdings greater than 5% of total market value as follows: COIF Charities Global Equity Fund M&G Charifund COIF Charities Eihical Investment Fund COIF Charities Property Fund 49.19% 22.01% 6.57% 6.87% 16. DEBTORS 2022 zoii kcrued incoft 44.876 44.876 1.325 1.325
26 LEICESTERSHIRE. LEICESTER AND RitrLAND COMMUNITY FOUNDATION NOTES TO THE ACCOUNTS CONTINUED- 31 MARCH 2022 17. CREDITORS: AMOUNTS FAWNG DUE WtrHIN ONE YEAR 2022 1021 Trade creditors 3S4 kcruals 6.181 13.049 5.928 41.666 3.214 50,808 Deferred grant incorre Isee note 181 Other creditors 19,584 18. DEFERRED GWIT INCOVIE 2022 2021 Deferred grant Incon broughtforvrdrd Amount rded5ed to incorne Amount dderred in year 41,666 141,6661 13.049 13,049 83.333 141.6671 41.666 19. FUNDS lknrn#rkteil RestrScted Endtywment Funds Fund Total Funds Funds 2022 Tan8iblefixed assets Investments 1.787 80.949 40.642 1,787 3,649.684 518,127 3.568.735 114.0961 Net current assets 491.581 123.378 491,581 3.554,639 4,169,598
27 LEICESTERSHIRE, LEICEsfER AND RunAND COMMUNITY FOUNDATION PIOTES TOTHE ACCOUNTS CONllNUED-31 MARCH 2022 20. RESfRICTED FUNDS AIIAWI 2021 At31 Math 2022 Inrt¢ 91 Ctsmi£ Rdid liargeGrantsl Comic Rdief (Local Communitiesl LCester$hI1t FuAd 1812 839 18391 19,11)Jl 17,7191 112,6571 2313 7.719 20.402 16451 1.767 17,270 Mars Women in Philanthropy Building a Strongff Britsin Together UKCF-Tar>w Tax Nttcovid 4270 lJ49 13.164 16451 9,857 9157 413 19.901 10.000 2597 319527 1203141 DCMS LLR Coronavirus Eftw8trbry Support Other Expendable Fua)ds 1262731 11822291 4,723 445.400 405.117 202,985 429,065 425,746 1569,1311 205.901 491,581 COMTC Relief Large Grants Programme- Letcesterwas invtted in 2016tojoin the netWOTk of citles across the UK, in which Community Foundaiions soliett application5 from flagship local projetts for Comic Relief to select recipbents for two-year grants of £30k. This ended in 2018. Comic Relief Local Communities Fund - an ongoing grant programme delNèred for Comic Relief. The scheme aims to actively engage the most disadvanta8ed in Society through sport or community projects. Lèi£èstÈrshire Fund- an ongoing graffl programme Set up on behalf of a local eharitablt trust to support small groups and projects across Leicestershire. The fund is supplemenied by income trnn5ferred from a correspoFbding named endowment fund in ateordance with the charitys total retum pollcy. This amounted to £1,767 durln8 the reportlng year. Mars- the Nkrs in the Communrty programme at a local level. supporting projècts for hèatthy active lifestyles, pet welfare and the environment ended in March 2020 and the balance is to be moved to unrestricted funds. The prograrnme has now come to an end.
28 LEICESTERSHIRE. LEICESTER AND RUTiAND COMMUNITY FOUNDATION NOTES TO THE ACCOUNTS CONTINUED- 31 MARCH 2022 20. Restrfrted Funds Icontinuedl Women in Philanthropy-the Foundation continueil to support this membership fund Ilaunched in March 20141 whi£h uses the linked fund model Iwhere futsds raised are splrf< betsleen expendable and endowment funds to generate funds for immed¥ate 8iving and an incorne in perwuityl. The WIP steerinR grgup continued to take an active leadership role in thè sele¢tion and support of charitable groups. and in èvent managemer*t and profile building. Brought forward funds inclut1ed donations and grants toward5 the set-up costs of ihe scheme. In additlgn to members, donations. restricted income included 5ponsor5hip of recTUttment at)d members. events. print and publicty. Income of £1.149 was transferred from the corresponding named endowmentfvnd durinR the year. UKCF- Tarnpon Tax- The fvndin8 for this national grdnt progrèmme. managed by the Department for Oigital. Culture. Media and Sport has been generaied from VAT on sanitary Pfoduas. The Community Foundaiion as delivery partnerwith UKCF made awards to grass rijots projectsthat improve the lives of disadvantaged women and 8irl5. DCMS Fund- a fvnd frorn the Department of Culture Media and Sport. It a fund to help those who live and work locally and whg are strug81in8 a5 a Ult of the pandemic. NET Cowd 19 Fund national emergeney fund to effertNely and efficientfy support local voluntary artrd comrnunity organisattons that are helpin8 vulnerable people impacted by the Covid-19 crisis. LLR Coronavirus Emer8ency Suppc¢rt- Community Foundation5 were 5eletted to delNer lexpendablel National EmergeThcies Trust and central government funds to charitable 8roups workin8 Wlth indiwduals and communities struggling in the pandemio including for food, mental health. and debt advice.
29
LEICESTERSHIRE. LEICEsfER AND RLITLAND COMMUNrrY FOUNDATION
NOTES TO THE ACCOUNTS COPmNUED-31 MARCH 2022
21. ENDOWME1 FUFID
Eynditsie
6ainsl(IMsÉs}
In5blltftts
TA Th5fer5
X31
The Arts Fund
Apex wo Fund
Rithard 8onThovFuDd
Siifirnothyurooks Fund
R & S
8srth's thantyFund
(hildrÈn on the Edv
Ifumlertylp¢pred Ihildrtns Furdl
(styvf LÈicesterEduaion Fund
162
L455
291
4.555
S2.876
Its83
1fjL3
711Y
4&479
17.259
4397
1214
IL4551
17.1811
110,7
E4315
33n
78
IU211
213AI
227ya
i.
248.Z56
267
Willi•m thlton Youth Sport FuTrd
Desor Foundaiion
8¢bbyOhanJal Foundatiilfi
Effi{Ifnttharitable Portlolio
170552
1.326
24294
16
178
14521
149.
Ll47
2613
17151
13,5161
1%593J
Hi8h Sheriftol Ruland's Fund
Hill 05borne Fund
Thè Foundation lin mtmory
661
1745
IiM>
57.193
4.657
Hope Fund
Huntlty& Palmers Fund
Keeoe Fund
LABA Fund
Bpn LatANs DWJ Ftsnd
Lei<tstÈrLamifti Funo
Le1
30 LEICESTERSHIRE, LEICESTER AND RUTLAND COMMUNrrY FOUNDATION NOTES TO THE ACCOUNTS COPffiNUED- ai MARCH 2022 21. ENDOWMEprr FUND Iconthiuedl Thè endowment fund Tncludes funds donated to the Fovndation by private and corporate donors. usual as personally named funds. invested tO8ether and indi¥7duallyiracked so that the income can be distributed regularly to beneficiaries or themes nominated by individual donors. The en4Jowment fvnd was invested in shares and fixed interest Investments. The LRFC Endowment Fund included donationsfrorn the É¥ernrd Foundation and other anonymou5 donors in addition to assets owned by the charity- The following transfers were made out of the endowment fund durin8 the year.. Unless specifically requested to do otherwise by the donor. a quarterly income was drawn down from each fund in accordan wr(h the charitys investment policy and transfeffed to restritted funds for giving. Such transfer5totalled £205.901. A total of £68.452 from donations received in the year from existtng funds. was transferred to unrestricted funds as a contributFtin to operatingcosts. as stipulated by donors in thefund agreements. 22. RECONauATION OF NET MOVEMENT IN FUNDS TO CASH FROM OPERATING ACTivmES 2022 Z021 Net incorne for year Deduct incorne from investmt attiviti¢5 d105se511gainsl on Investments Depreciation of tsngible fixed assets Ilncrea5elldecrease in debiois IDe¢reasellincrease in creditors 283.696 1117.5781 1284.0321 962 923.007 1108.8031 1645.3501 628 1435511 131.2241 410 153.1301 NEt cash flow frorn operating activitie5 1191.7271 116.762