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2021-12-31-accounts

Liberum Foundation

(A Registered Charity & Company Limited by Guarantee)

Annual Report & Unaudited Financial Statements

For the year ended 31 December 2021

Company Number: 07196199

Charity Number: 1137475

Liberum Foundation

Reference & Administrative Information

Directors & Trustees: S Le Prevost (Chairman) C Doherty J Kelly (resigned 12 August 2022) N Khassine (resigned 22 August 2022) N Clarke W Thomas A Foster C Metcalfe J Klement (resigned 23 May 2022) C Howlett (appointed 9 November 2021) T Medak (appointed 9 November 2021)

Secretary: A Burton-Hopkins (resigned 31 December 2021) A Foster (appointed 1 January 2022) Registered Office: Ropemaker Place, Level 12 25 Ropemaker Street London EC2Y 9LY Bankers: Barclays Bank 1 Churchill Place London E14 5HP Independent Examiners: Moore Kingston Smith LLP 6[th] Floor 9 Appold Street London EC2A 2AP Solicitors: Bates Wells & Braithwaite 2-6 Cannon Street London EC4M 6YH

Liberum Foundation

Contents

4
Independent
Report		 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12

Liberum Foundation

For the year ended 31 December 2021

The Directors and Trustees present their report along with the Charity ) for the year ended 31 December 2021. This of t 2011. The Charity is constituted as a company limited by guarantee and is governed by the & Article The financial statements have been prepared in accordance with the accounting policies set out on page 12 and comply with the requirements of the Memorandum & Articles, the Companies Act 2006, the Charities Act 2011 and the FRS 102 Charities SORP.

Structure, Governance & Management

The Charity was established in 2010 Member Company is the sole member and sole guarantor of the Charity.

The Member Company has a history of charitable giving both as a company and through individual employees actively raising money themselves for their nominated charities. Following requests from its employees, the Board of the Member Company felt that the business was established and mature enough to support a more proactive approach

The Charity relies on the financial contribution and participation from the Board and employees of the Member Company in fundraising activities. The Trustees are appointed by the Member Company and include representatives from the Board and the Employees, as well as an independent trustee. Although they consider the views of the Employees and the Board, the Trustees collectively make decisions regarding the nature and amount of donations made by the Charity. The powers, responsibilities and decision making authority of the Trustees are governed by the Memorandum & Articles. In 2021 the Board agreed to donate an annual amount to the Charity equivalent to 0.5% of the Member

The Trustees established a fundraising committee to meet on a regular basis to discuss and organise fundraising events in order to make the decision-making process in respect of fundraising ideas more efficient. All Trustees meet on a quarterly basis to monitor the progress of projects that the Charity has funded and to consider other donations.

All trustees give their time voluntarily with no trustee remuneration being paid during the year. It is anticipated that further volunteers will be invited to apply to join the Charity as Trustees in the coming year on a rotation basis. When the Charity appoints new trustees they as a trustee.

Objects & Activities

The objects of the Charity are for the public benefit, to pursue any purposes that are charitable from time to time. Particularly:

the advancement of education, training and employment;

Report for the year ended 31 December 2021 (Continued)

Liberum Foundation

By making grants to individuals and organisations to support projects that are aimed at helping children and young people and other members of society or other charitable purposes as determined by the Trustees.

Grant Making Policy

In order to obtain maximum benefit, the Trustees have maintained a structured approach to grants and donations; with the majority of the funds available being used to fund projects with charities that the Charity has previously supported, being registered charities whose objects and activiti Charities being:

During the year the Trustees made donations totalling £57,392 (2020: £34,465) to fund specific projects with the Anchor Charities described below:

School Home Support: in June 2021 the Charity donated £25,000 in order to continue to support a project which involved the provision of SHS practitioners at two primary schools in North London and a college of higher education in East London, as well as a contribution to the SHS Welfare Fund. The funding benefitted children and parents as well as leveraging further matched funds support directly from each of the institutions. Regular termly reports were received during the year from SHS regarding progress made by the practitioners in the schools. In addition to this a collection was undertaken by the Employees to provide Christmas hampers for families linked to SHS practitioners, funds were raised to provide books for World Book Day campaign.

Place2Be : in June 2021, the Charity agreed to support P2B as a second Anchor Charity. P2B provides counsellors in schools to provide mental health support and guidance to children, parents and teachers, with the aim of providing early intervention to prevent greater mental health issues later in life. The Charity donated £25,000 to P2B and maintains regular contact with P2B to discuss their new initiatives. Through the relation with P2B, webinars on mental health are made available to the Employees and Employees are given the chance to participate in DIY days to help improve the facilities at schools in deprived areas of London.

Launch It: the Trustees initially met Launch It in 2019 as part of a search for a potential anchor charity. Launch It is a group of charities with the mission to empower young people to fulfil their potential by providing the workspace, mentoring and training needed to start a business. Member Company Employees with relevant business experience to act as mentors to three businesses.

Ad Hoc Donations in 2021

Trustees received many requests for financial assistance from charities which matched the Charities objectives, the majority of which were as a direct result of the COVID-19 pandemic in the same way as 2019. Trustees agreed to donate ad hoc and unrestricted funding to:

Report for the year ended 31 December 2021 (Continued)

Liberum Foundation

ChanceUK: Trustees donated £5,000 to ChanceUK, a charity which provides solutions focused mentoring and family support for children aged 5-13 with behavioural and emotional difficulties alongside group workshops designed to build social and emotional skills and resilience.

s Trust: children who had been the victim of severe burns who were statistically more likely to be children from deprived areas and therefore fell within the aims of the Charity.

Afghanaid: , which supported safe spaces for education and emergency aid for families who had lost homes during the crisis in Afghanistan.

Public Benefit

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act

Achievements & Performance

The Charity on developing its relationship with the Anchor Charities, identifying and meeting potential anchor charities and exploring alternative funding opportunities and fundraising. The Charity successfully raised a total of £86,693 during the year (2020: £75,878) which mainly consisted of a donation from the Member Company, and from fundraising events organised by the Trustees and Employees throughout the year. The remaining funds were raised from other ad hoc donations and events organised by the Trustees and Employees.

COVID-19

The release of restrictions imposed as a result of the COVID-19 allowed the Charity to resume fundraising activities and opportunities for Employees to engage with the Anchor Charities, for example through reading with school children, also resumed. The Trustees continued to be mindful of the detrimental impact of the pandemic on charities, in particular those focussed on supporting children, and therefore took the decision to make a number of ad hoc donations to charities on an unrestricted basis in line with the approach in 2019.

Plans for the Future

In 2022 the Trustees will continue their ongoing review of the structure of the Charity, with particular emphasis on:

Financial Review

Financial Activities on page 10. The highlights are:

Report for the year ended 31 December 2021 (Continued)

Liberum Foundation

Risks

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to internal controls and the granting of funds and lending externally, and are satisfied that systems and controls are in place to mitigate exposure to these risks.

Related Parties

The Member Company is the sole guarantor of the Charity and it relies on the financial contribution and participation from the Member Company, the Board and Employees to achieve its objectives. Furthermore, the majority of the Trustees of the Charity are employees of the Member Company.

During the year Trustees made donations totalling £500 (2020: £740).

Reserves Policy

Charity with adequate financial stability

and the means to meet its charitable objectives for the foreseeable future.

and above sufficient reserves held to cover any current liabilities, this being the typical level of one grant made to an Anchor Charity. This ensures that if minded to do so the Trustees can always make further funds available to support the Anchor Charities or for other funding opportunities that may arise, whilst ensuring that all of the Charities financial obligations can be met. Furthermore, it is not the intention of the Trustees to hold excessive reserves which could otherwise be used in supporting its charitable objectives.

The Trustees reviewed the amount of reserves that are required to ensure that they are agreeing to any grants, donations or other methods of funding. The Trustees are aware that the reserves at the 31 December 2021 were in excess of the £25,000 minimum and given their intention to make further grants and pursue other forms of sustainable funding opportunities during 2022; the Trustees deem the level of reserves at the year-end to be appropriate.

As at the year ended 31 December 2021 the Charity held £139,631 (2020: £122,360) in unrestricted reserves and £Nil (2020: £Nil) held as designated funds.

The Charitable Company is registered as a company limited by guarantee in England & Wales (number 07196199) and a registered Charity (number 1137475).

The Trustees, who are also directors for the purposes of company law, are responsible for preparing the Trust applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the

Report for the year ended 31 December 2021 (Continued)

Liberum Foundation

incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the Trustees and signed on their behalf by

S Le Prevost

Chairman

Liberum Foundation

Liberum Foundation

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

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

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

6[th] Floor Luke Holt, FCA 9 Appold Street Independent Examiner London EC2A 2AP For and on behalf of Moore Kingston Smith LLP

Date: 17 October 2022

LiberLJm Foundation Statement of Financial Activities (Incorporating an Income & Expenditure Account) For the year ended 31 December 2021 Notes Total 2021 2020 Income Charitable activities Other income 88,589 81,679 Total 88,589 81,679 Expenditure Donations and Grants Other expenditure 4&5 68,392 2,925 40,266 2,763 Total 71,317 43,029 Net income/{expenditure) 17,271 38,650 Total funds brought forward 122,360 83,710 Total funds carried forward 139,631 122,360 The notes on pages 12 to 17 form part of these financial statements io-

Liberum Foundation Balance Sheet As at 31 December 2021 Notes 2021 2020 Current assets Cash at bank and in hand 142,381 124,960 Total current assets 142,381 124,960 Creditors and accruals 2,750 2,600 Net current assets 139,631 122,360 Net assets 139,631 122,360 Funds of the charity Unrestricted funds 139,631 122,360 Total funds 139,631 122,360 For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Att 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime within Part 15 of the Companies Act 2006. Approved by the Trustees on 12 October 2022 and signed on their behalf by S Le Prevost Trustee Company number.. 07196199 The notes on pages 12 to 17 form part of these financial statements

LiberLJm Foundation Notes to the Financial Statements For the year ended 31 December 2021 Basis of preparation 1.1 Basis of accounting These financial statements have been prepared in accordance with FRS 102 "The Financial Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) and the requbrements of the Companies Act 2006. The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the Charity's financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity's governing document, the Charities Art 2011 and Accounting and Reporting by Charities.. Statement of Recommended Prartice (Sncluding update Bulletlin I l appllcable to charities preparlng thelr accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. These financial statements are prepared on the going concern basis, under the historical cost convention and in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. The principle accounting policies are set out below. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financbal statements are rounded to the nearest pound. 1.2 Financial instruments Basic financial instruments are measured at amortised cost. Debtors, creditors and related programme investment Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price and subsequently measured at amortised cost less any impairment. Cash and cash equivalents Cash and cash eqLJivalents include cash in hand and deposits held at call with banks. 1.3 Going concern After making reasonable enquiries, and assessing all data relating to the Foundation's liquidity the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future and do not consider there to be any threat to the going concern status of the Foundation. Therefore, the Trustees continue to adopt the going concern basss in preparlng the flnancial statements and conflrm there are no material uncertalntles at the date of the approval of these financial statements. 12-

Liberum Foundation Notes to the Financial Statements (continued) Accounting policies 2.1 Income Recognition of income Income is included in the Statement of Financial Activities (SOFA) when.. the Charity becomes entitled to the resources. it is probable they will receive the resources; and the monetary value can be measured with sufficient reliability. Income with related expenditure Where income has related expenditure las with fundraising or contract income) the income and related expenditure are reported gross in the SOFA. Grants and donations Grants and donations are only included in the SOFA when the Charity has unconditional entitlement to the resources. Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. 2.2 Expenditure & Liabilities Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources. Grants with performance conditions Where the Charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. These are only recognised in the accounts when a commitrnent has been made and there are no conditions to be met relating to the grant which remain in the control of the Charity. 2.3 Taxation The charity is exempt from corporation tax on its charitable activities. 2.4 Funds structure Unrestricted funds are funds which are used in accordance with the charitable objects at the discretion of the trustees. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 2.5 Critical accounting estimates and areas of judgements In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. There are no judgements and estimates are considered by the Trustees to have a significant effect on amounts recognised in the financial statements. 13

LiberLJm Foundation Notes to the Financial Statements (continued) Analysis of income Total 2021 2020 Charitable activities Donations from Liberum Llmited Donations from School Home Support other donations 85,000 1,693 1,896 75,000 5,961 718 88,589 81,679 Interest receivable Interest receivable 14-

LiberLJm Foundation Notes to the Financial Statements (continued) Analysis of expenditure Total 2021 2020 Donations & grants School Home Support Place 28 Chance UK Children's Burns Afghan Aid Launch tt SHP Honeypot 32,392 25,000 5,000 5,000 1,000 32,266 6,000 1,000 1,000 68,392 40,266 Bank charges & interest Bank charges lincludlng Vlrgin Glvlng) 23 23 Legal & professional fees Independent examination - current year Independent examination - under accrual Data protection renewal 2,750 124 2,600 140 2,874 2,618 15

LiberLJm Foundation Notes to the Financial Statements (continued) Grantmaking Grants were made during the year to fund specific projects with three main charities, being registered charities who's objects and actlvbties mirrored that of the Charbty's. Although the grants were made to fund specific projects or activities, there were no specific performance condltions attached to them. 2021 2020 School Home Support 32,392 32,266 To fund SHS prartitioners in three schools in the London area to help to keep dlsadvantaged chlldren In educatlon Place 2B 25,000 Providing access to mental health support through schools for children and their parents Other institutions 11,000 8,000 Total grants to institutions 68,392 40,266 16-

LiberLJm Foundation Notes to the Financial Statements (continued) Creditors & Accruals 2021 2020 Amounts falling due within one year Independent examination 2,750 2,600 2,750 2,600 Related parties Liberum Capital Limited (the 'Member Company") is the sole guarantor of the Charity. The Charity relies on the flnancial contrlbutlon and particlpatlon from the Member Company, Its Board and Employees to achieve it's objectives. Furthermore the majority of the Trustees of the Charity are employees of the Member Company. During the year the Member Company donated £85,000 (2020.. £75,000) to the Charity. During the year 5 (2020.. 6} Trustees also made donations totalling £500 {2020'. £740)- Gift aid of £25 {2020.. £1911 was recieved in respect of these donations. Remuneration All Trustees give their time voluntarilyi no remuneration or expenses were paid during the year. The Charity has no employees. Reserves Funds as at 31 Funds as at I January 2021 Income Expenditure Transfers December 2021 139,631 Unrestricted 122,360 88,589 171,3171 Total 122,360 88,589 171,3171 139,631 10 Limited liability The Liberum Foundation Is a Company limlted by guarantee and as such does not have any share capital. In the event of winding LJP the liability of each member is limited to £1. 17-