2021-12-31-accounts - Fara Foundation

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Trustees' Annual Report (incorporating the Strategic Report,			1tog
Directors' Report and Chairman's Report)
Report ofthe	Independent Auditors		10to 12
Consolidated	Statement of Financial	Activities	13to 14
Consolidated	Balance Sheet		15
Group Cash	Flow Statement		16
Notes to the	Consolidated Financial	Statements	17to 28

					2021 (Total)	2020
					Unrestricted
					Funds	Total funds
INCOME
Donations and legacies:
Donations and other	voluntary		income (including	Gift Aid)	43,763	56,572
Income from other trading activities:
Retail income					8,094,074	5,302,785
Property management	charges				3,300	2,898
Coronavirus job retention		scheme			755,058	1,265,020
Retail and hospitality	grant				605,887	770,000
Investment income:					111,234	197,634
TOTAL INCOME					9613 316	7 594909
EXPENDITURE
Costs of raising funds:
Retail costs					7,868,127	6,833,487
Portfolio management					8,266
Expenditure on charitable activities:
Provision of Funding	for Child,		Youth, Adult Care	&
Educational Services					2,005,565	677,753
TOTAL EXPENDITURE					9881 958	7 511 240
Net income / (expenditure)	for the year				(268,642)	83,669
Net gains / (losses) on revaluation		offixed assets			(70,000)
Net gains / (losses) on investments					261,763	(815,080)
NET MOVEMENT OF FUNDS FOR THE YEAR					(76,879)	(731,411)
Reconciliation offunds:
TOTAL FUNDS BROUGHT	FORWARD				10,561,419	11,292,830
NET MOVEMENT OF FUNDS FOR THE YEAR					~76 879	~731 411
TOTAL FUNDS CARRIED FORWARD
Represented by:
Designated funds					8,785,244	5,632,263
General funds					1,699,296	4,929,156

			Note	Group	Charity	Group	Charity
				2021	2021	2020	2020
					f
FIXEDASSETS
Tangible assets			10	519,845	46,312	592,578	14,527
Investments			11	5,264,010	5,312,584	4,368,711	4,417,285
Debtors:- Amounts	falling due after
one year			12		250,000	18,000	300,000
CURRENT ASSETS
Debtors			12	751,188	503,585	800,674	761,089
Cash at bank and	in hand			3,887,790	3,789,920	4,222,229	4,173,448
Investments			13	923,552	923,552	923,552	923,552
				5,562,530	5,217,057	5,946,455	5,858,089
Less: CURRENT LIABILITIES
Creditors:- Amounts		falling due within
one year			14	383,360	249,031	364,325	13,296
NET CURRENT ASSETS				5,179,170	4,968,026	5,582,130	5,844,793
TOTAL ASSETSLESSCURRENT
LIABILITIES				10,963,025	10,576,922	10,561,419	10,576,605
Less: PROVISIONS	FOR LIABILITIES		15	478,485	57,195
NET ASSETS				10,484,540	10,519,727	10,561,419	10,576,605
FUNDS
Unrestricted income		funds
Designated funds				8,785,244	8,785,244	5,632,263	5,340,837
General funds				1,699,296	1,734,483	4,929,156	5,235,768
TOTAL UNRESTRICTED INCOME FUNDS			16	10,484,540	10,519,727	10,561,419	10,576,605
Approved by the Board	ofTrustees on ......~'"..Q...cPPC..PE..and signed on their behalf by:-
Ms S G Cross			Mr R Davidson
Chairman			Trustee

					2021	2020
						E
Net incoming I(outgoing) resources					(268,642)	83,668
Adjustments to exclude	investment	income and
non-cash items (see	Note A below)				538,579	(323,796)
Net cash inflow I(outflow) from		operating		activities	269,937	(240,128)
Return on investment	and servicing offinance
Investment income (not	reinvested)				19,680	20,901
Capital expenditure and financial			investment:
Purchase oftangible fixed assets					(82,074)	(25,279)
Proceeds ofsale oftangible fixed assets						600
Purchase of investments					(2,108,079)	(700,000)
Sale of investments					1,566,098	1,883,856
Net cash inflow I(outflow) from		investing		activities	(604,376)	1,180,078
Increase / (Decrease) in cash (see			Note B	below)	(334,439)	939,950
Note A
Adjustments to exclude investmentincome				and non-cash items:-
Investment income					(111,234)	(197,634)
Depreciation					84,807	63,057
(Increase) / decrease in	debtors				67,486	(193,377)
Increase / (decrease) in	creditors				19,035	4,758
Increase / (decrease) in	provisions				478,485
Profit on sale oftangible	fixed assets					(600)
					538,579	(323,796)
Total adjustments
Note B
Increase in cash at bank and in hand
Cash at 1 January 2021					4,222,229	3,282,279
Increase / (Decrease) in	cash (above)				(334,439)	939,950
Cash at 31 December 2021					3,887,790	4,222,229

Leasehold land and buildings	Over the term of	Over the term of	the lease
Fixtures and fittings	33%on	reducing	balance
Motor vehicles	25% on	reducing	balance
Office equipment	33%on	reducing	balance
Website	straight	line over	3years

2021			FARA	FARA	Total
			Foundation	Enterprises	2021
Retail income (shops'		sales)	2,201,254	5,892,820	8,094,074
Retail expenditure	(shops' costs)		(1,855,123)	(5,999,667)	(7,854,790)
Support costs			3,627	9,710	13,337
Net funds generated		from retail activities	342,504	(116,557)	225,947
020
			FARA	FARA	Total
			Foundation	Enterprises	2020
			E
Retail income (shops'		sales)	1,914,798	3,387,987	5,302,785
Retail expenditure	(shops' costs)		1,705,152	5,128,335	6,833,487
Net funds generated		from retail activities	209,646	(1,740,348)	(1,530,702)

				Direct
			programme		Grant
				running	funding
				costs	programme		Support	Total		Total
				2021	2021		costs 2021	2021		2020f
	Expenses incurred in Romania
	Head office operations	&								167,550
	fundraising
	Therapy and rehabilitation									190,095
	Family for those without									62,	124
	Adults with learning									86,083
	disabilities
	Youth Services									101,438
	Tackling Poverty Through									70,463
	Education
	Grants payable
	Child, youth and social				1,734,234		271,331	2,005,565
	care
	Total Expenditure on
	Charitable Activities				1,734,234		271,331	2,005,565		677,753
7.	ANALYSIS OF SUPPORT COSTS
							Charity	Finance
	2021			Total	Charity		staff and	charges	&
				support	admin	and	consult-	govern-		Miscell-
				costs	office		ancy	ance		aneous
	Grants payable
	Child, youth and social			271,331	57,907		177,823	15,867		19,734
	care
	Raising Funds: Shops' costs			13,337				13,337
				284,668	57,907		177,823	29,204		19,734
	2020							Finance
							Charity	charges
				Total	Charity		staff and	and		Miscell-
				Support	admin	and	consult-	govern-		aneous
				costs	office		ancyf	ance
	Expenses incurred	in
	Romania
	Head office operations		&	35,626		5,554	13,285	16,072			715
	fundraising
	Therapy and			40,398		6,303	15,075	18,209			811
	rehabilitation
	Family for those without			13,096		2,022	4,937	5,871			266
	Adults with learning disabilities			18,435		2,841	6,986	8,241			367
	Youth Services			21,569		3,363	8,043	9,730			433
	Tackling Poverty Through
	Education			14,989		2,385	5,414	6,890			300
				144,113	22,468		53,740	65,013		2,892

13.	CURRENT ASSET INVESTMENTS
		Group	Charity	Group	Charity
		2021f	2021f	2020f	2020f
Deposit	accounts	923,552	923,552	923,552	923,552
		923,552	923,552	923,552	923,552
14.	CREDITORS
		Group	Charity	Group	Charity
		2021f	2021f	2020f	2020f
Amounts falling due within one year:-
Trade creditors		138,768		166,350
Taxation	and social security			6,338
Other creditors and accruals		224,012	249,031	191,637	13,296
Deferred	income	20,580
		383,360	249,031	364,325	13,296
15.	PROVISIONS
		Group	Charity	Group	Charity
		2021f	2021f	2020f	2020f
As at1	January2021
Arising in the year
Utilised	in the year	478,485	57,195
		478,485	57,195

	FARA	FARA
	Properties	Enterprises	Total	Total
Subsidiary assets and liabilities	Limited	Limited K	2021f	2020
Tangible fixed assets	270,000	203,533	473,533	578,051
Stock
Debtors		558,298	558,298	412,442
Cash at bank and in hand	66,452	31,418	97,870	48,781
Creditors:-
Amounts falling due within one year	(87,576)	(357,448)	(445,024)	(705,887)
Amounts falling due after one year	(479,198)		(479,198)	(479,198)
Provisions for liabilities		(421,290)	(421,290)
Net assets	(230,322)	14,511	(215,811)	(145,811)
Capital and reserves
Called up share capital	2	5,000	5,002	5,002
Other reserves	(229,680)		(229,680)	(159,680)
Retained earnings	(644)	9,511	8,867	8,867
Net assets	(230,322)	14,511	(215,811)	(145,811)

				FARA	FARA
				Properties	Enterprises	Total	Total
				Limited	Limited	2021	2020
Subsidiary trading results
Turnover				32,500	7,297,568	7,330,068	4,779,688
Other income				1,500	1,774,339	1,775,839	2,436,681
Total incoming	resources			34,000	9,071,907	9,105,907	7,216,369
Costs ofsales					(5,618,897)	(5,618,897)	(5,260,055)
Administration	and overheads			(26,917)	(2,235,005)	(2,261,922)	(1,647,749)
Unrealised revaluation of investment			property	(70,000)		(70,000)
Net incoming resources Donation to FARA Foundation				(62,917) ~7,083	1,218,005 ~1,218,005	1,155,088	308,565
Net movement	in shareholders'	funds		70,000		70,000