2020-12-31-accounts - Fara Foundation

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			Page
Report ofthe Trustees			1to2
Chairman's	Report on behalf ofthe	Board	3to 8
Report ofthe Independent Auditors			9to 11
Consolidated	Statement of Financial	Activities	12to 13
Consolidated	Balance Sheet		14
Group Cash	Flow Statement		15
Notes to the	Consolidated Financial	Statements	16to 27

						Unrestricted	2020	2019
						Funds	Total funds	Total funds
INCOME							E
Donations and legacies:
Donations and other	voluntary			income (including	Gift Aid)	42,579	42,579	30,832
Income from charitable activities:
Sponsorships						13,993	13,993	13,118
Income from other trading activities:
Shops' income						5,302,785	5,302,785	10,103,749
Property management	charges					2,898	2,898	1,750
Coronavirus job retention			scheme			1,265,020	1,265,020
Retail and hospitality	grant					770,000	770,000
Investment income:
Interest from cash held						32,753	32,753	15,761
Income from listed investments				(reinvested)		164,881	164,881	155,112
TOTAL INCOME						7,594,909	7,594,909	10,320,322
EXPENDITURE
Expenditure on charitable activities:
Provision of Funding	for	Child,		Youth, Adult Care	8
Educational Services						534,940	534,940	1,065,470
Support and governance			costs			142,813	142,813	90,434
Costs of raising funds:
Shops' costs						6,833,487	6,833,487	7,568,646
TOTAL EXPENDITURE						7,511,240	7,511,240	8,724,550
Net gains / (losses) on investments						(815,080)	(815,080)	556,484
Net income / (expenditure)						(731,411)	(731,411)	2,152,256
Gains / (losses) on revaluation		offixed		assets				(100,000)
NET MOVEMENT IN FUNDS						(731,411)	(731,411)	2,052,256
Reconciliation offunds:
TOTAL FUNDS BROUGHT	FORWARD					11,292,830	11,292,830	9,240,574
TOTAL FUNDS CARRIED FORWARD
Represented by:
Designated funds (long term	care)					5,632,263	5,632,263	5,442,766
General funds						4,929,156	4,929,156	5,850,064
						1~61,419	1~61,419	1~92,83Q

			Note	Group	Charity	Group	Charity
				2020f	2020f	2019 f	2019
FIXED ASSETS
Tangible assets			9	592,578	14,527	630,356	16,910
Investments			10	4,368,711	4,417,285	6,202,765	6,251,339
Debtors:- Amounts	falling due after
one year				18,000	632,978	24,296	652,917
CURRENT ASSETS
Stocks
Debtors				800,674	428,111	601,001	337,413
Cash at bank and	in	hand		4,222,229	4,173,448	3,282,279	3,145,063
Investments			12	923,552	923,552	911,700	911,700
				5,946,455	5,525,111	4,794,980	4,394,176
CURRENT LIABILITIES
Creditors:- Amounts		falling due within
one year			13	364,325	13,296	359,567	7,325
NET CURRENT ASSETS				5,582,130	5,511,815	4,435,413	4,386,851
TOTAL ASSETS LESSCURRENT
LIABILITIES				10,561,419	10,576,605	11,292,830	11,308,017
NET ASSETS				10,561,419	10,576,605	11,292,830	11,308,017
FUNDS
Unrestricted income		funds
Designated funds (long term care)				5,632,263	5,340,837	5,442,766	7,163,039
General funds				4,929,156	5,235,768	5,850.064	4,144,978
TOTAL UNRESTRICTED INCOME FUNDS			14	10,561,419	10,576,605	11,292.830	11,308,017

						2020	2019
						E
Net incoming / (outgoing) resources						83,668	1,595.772
Adjustments to exclude	investment	income and
non-cash items (see	Note A below)					(323,796)	47,175
Net cash inflow / (outflow) from		operating			activities	(240,128)	1,642,947
Return on investment	and servicing			offinance
Investment income (not	reinvested)					20,901	15,761
Capital expenditure and financial			investment:
Purchase of intangible fixed assets
Purchase oftangible fixed assets						(25,279)	(76,464)
Proceeds ofsale oftangible fixed assets						600
Purchase of investments						(700,000)	(2,000,000)
Sale ofinvestments						1,883,856
Net cash inflow I(outflow) from		investing			activities	1,180,078	(2,060,703)
Increase /(Decrease) in cash (see			Note B		below)	939,950	(417,756)
Note A
Adjustments to exclude investment				income and non-cash items:-
Investment income						(197,634)	(170,873)
Depreciation						63,057	96,407
(Increase) / decrease in	debtors					(193,377)	89,075
(Increase) / decrease in	stocks
Increase / (decrease) in	creditors					4,758	50,115
Profit on sale oftangible	fixed assets					(600)
Provision							(17,549)
						(323,796)	47,175
Total adjustments
Note B
Increase in cash at bank and in hand
Cash at 1 January 2020						3,282,279	3,700,035
Increase / (Decrease) in	cash (above)					939,950	(417,756)
Cash at 31 December 2020						4,222,229	3,282,279

				FARA	FARA	Total	Total
			Foundation		Enterprises	2020	2019
					Limited
					f
Retail income (shops' sales)				1,914,798	3,387,987	5,302,785	10,103.749
Retail expenditure (shops' costs)				1,705,152	5,128,335	6,833,487	~7,566,646
Net funds generated from retail	activities			209,646	(1,740,348)	(1,530,702)	2,535,103
etail income includes donations	from supporters			and the Gift Aid, which has been		claimed from the	proceeds arising
n the sale ofthe donor's goods	through	the	shops of FARA Enterprises Limited.
4. INVESTMENT INCOME
						Total	Total
						2020f	2019 f
Income from listed investments	(reinvested)					164,881	155,112
Interest from cash held						32,753	15,761
Total investment income						197,634	170,873

ANAL		SIS OF	EX	PEN	DI	TURE	ON	CHARITABLE ACTIVI	TIES	TIES
									Provision
									of Funding
									for	Child,
									Youth,
									Adult Care
										8
									Educational		Total	Total
									Services		2020	2019
										f
Expenses incurred			in Romania
Travel costs										1,300	1,300	10,214
Programmes		running	costs
Head office operations					and	fundraising			131,924		131,924	174,210
Therapy		and rehabilitation							149,697		149,697	289,148
Family	for those without									49,028	49,028	159,630
Adults	with learning			disabilities						67,648	67,648	142,402
Youth Services										79,869	79,869	176,807
Tackling		Poverty Through				Education				55,474	55,474	113,059
									534,940		534,940	1,065,470
UK costs
Bank charges		and interest								435	435	525
Miscellaneous		costs								2,892	2,892	2,876
Support costs										74,908	74,908	60,725
Governance		costs								64,578	64,578	26,308
									142,813		142,813	90,434
Total costs									677,753		677,753	1,155,904
ANALYSIS OF			GOVERNANCE				AND	SUPPORT COSTS
												Basis of
												apportionment
								Support	Governance			across charitable
								costs	costs		Total	activities f
Administration,		postage and telephone						1,552			1,552	Allocated on cost
Office overheads								19,616			19,616	Allocated on cost
Staff costs								53,740			53,740	Allocated on cost
Audit fees									10,500		10,500	Governance
Accountancy		and taxation		services					5,476		5,476	Governance
Legal and professional			fees						48,602		48,602	Governance
Total costs								74,908	64,578		139,486

	Total re	sourc	es expended for the year is stated	after charging:-
					Total		Total
					2020		2019
	Operating	lease rentals (land and buildings)			1,385,012		1,499,587
	Depreciation		charges for the year		63,057		93,962
	Auditor's	remuneration			10,500		10,500
					1,458,569		1,604,049
8.	STAFF		AND TRUSTEE INFORMATION
					FARA
				FARA	Enterprises	Total	Total
				Foundation f	Limited	2020f	2019 f
	Staff costs
	Salaries			53,740	4,145,986	4,199,726	4,089,855
	Social security				302,047	302,047	316,508
	Total			53,740	4,448,033	4,501,773	4,406,363

GROUP		Freehold	Leasehold	Fixtures
		land and	land and	and	Motor
		buildings	buildings	fittings	vehicles	Total
Cost or valuation
Balance at	1 January 2020	340,000	117,577	1,010,636	95,687	1,563,900
Additions			13,423	11,856		25,279
Disposals			(2,303)		(18,165)	(20,468)
Revaluation
Balance at	31 December 2020	340,000	128,697	1,022,492	77,522	1,568,711
Depreciation
Balance at	1 January 2020		63,049	790,752	79,743	933,544
Charge for	the year		14,218	44,853	3,986	63,057
Eliminated	on disposal		(2,303)		(18,165)	(20,468)
Balance at	31 December 2020		74,964	835,605	65,564	976,133
Net book values
At 31 December 2020		340,000	53,733	186,887	11,958	592,578
At 31 December 2019		340,000	54,528	219,884	15,944	630,356

GROUP			Listed	Total 2020	2019
			Investments
MARKET VALUE
As at1 January 2020			6,202,765	6,202,765	3,491,170
Purchase of investments	at	cost	700,000	700,000	2,000,000
Dividends reinvested			164,882	164,882	201,321
Disposal ofinvestments			(1,883,856)	(1,883,856)
Net investment gains/(losses)		unrealised	(815,080)	(815,080)	510,274
As at 31 December 2020			4,368,711	4,368,711	6,202,765

CHARITY	Held by the
	Charity
	E
Cost
As at 1 January 2020	48,574
As at 31 December 2020	E~

		Group	Charity	Group	Charity
		2020	2020	2019	2019
		F
Amounts	falling due within one year:-
Trade debtors		13,194		32,437
Other debtors and prepayments		787,480	428,111	568,564	337,413
		800,674	428,111	601,001	337,413
		Group	Charity	Group	Charity
		2020	2020	2019	2019
		E	F		E
Amounts	falling due after one year:-
Other debtors		18,000	632,978	24,296	652,917
		18,000	632,978	24,296	652,917

			At 1				Transfers	At 31
			January	Incoming	Outgoing	Gains and	between	December
			2020	resources	resources	losses	funds	2020
			E	f				f
Unrestricted		funds
Designated		funds	7,454,465	164,881		(815,080)	(1,172,003)	5,632,263
General	funds		3,838,365	7.430,025	~7,511,240		1,172,003	4,929,156
			11,292,830	7,594,909	(7,511,240)	(855,080)		10,561,419

		Designated	General
		fundsf	funds	Total
Tangible	fixed assets	340,000	252,578	592,578
Investments		4,368,711		4,368,711
Current	assets	923,552	5,040,903	5,964,455
Current	liabilities		(364,325)	(364,325)
Total net assets as at 31 December 2020		5,632,263	4,929,156	10,561,419
Analysis	of Charity net assets between funds	Designated	General
		funds	funds	Total
			F
Tangible fixed assets			14,527	14,527
Investments		4,417,285		4,417,285
Current	assets	923,552	5,234,537	6,158,089
Current	liabilities		(13,296)	(13,296)
Total net assets as at 31 December 2020		5,340,837	5,235,768	10,576,605

		FARA	FARA
		Properties	Enterprises	Total	Total
		Limited	Limited	2020	2019
Subsidiary assets and liabilities					E
Tangible fixed assets		340,000	238,051	578,051	613,446
Stock
Debtors		1,279	411,163	412,442	424,499
Cash at bank and	in hand	3,227	45,554	48,781	153,331
Creditors:-
Amounts falling	due within one year	(25,630)	(680,257)	(705,887)	(857,889)
Amounts falling	due after one year	(479,198)		(479,198)	(479,198)
Net assets		(160,322)	14,511	(145,811)	(145,811)
Capital and reserves
Called up share capital		2	5,000	5,002	5,002
Profit and loss account		(160,324)	9,511	(150,813)	(150,813)
Net assets		(160,322)	14,511	(145,811)	(145,811)