2022-12-31-accounts - Fara Foundation

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Trustees' Annual Report		(incorporating	the Strategic Report	1 to 14
and Directors'	Report)
Report ofthe	Independent	Auditors		15to 17
Consolidated	Statement	of Financial Activities		18
Consolidated	Balance Sheet			19
Group Cash	Flow Statement			20
Notes to the	Consolidated	Financial Statements		21 to 35

				For the Year	Ended 31December 202	2
					Note	2022 (Total)	2021 (Total)
						Unrestricted	Unrestricted
						Funds	Funds
INCOME						E	6
Donations and legacies:
Donations and other	voluntary			income (including	Gift Aid)	41,316	43,763
Income from other trading activities
Retail income						11,873,720	8,094,074
Property management	charges					2,000	3,300
Coronavirus job retention		scheme					755,058
Retail and hospitality	grant						605,887
Investment income						166,146	111,234
TOTAL INCOME						12083182	9613316
EXPENDITURE
Costs of raising funds:
Retail costs						8,939,102	7,868,475
Portfolio management						18,977	8,266
Expenditure on charitable activities:
Provision of Funding	for Child,			Youth, Adult Care	&
Educational Services						2,082,634	2,005,217
TOTAL EXPENDITURE						11040713	9911988
Net income / (expenditure)	for	the		year before gains	and losses	1,042,469	(268,642)
Net gains / (losses) on revaluation			of	fixed assets		165,000	(70,000)
Net gains / (losses) on investments						(575,719)	261,763
NET INCOME / (EXPENDITURE)			FOR THE YEAR			631,750	(76,879)
Reconciliation offunds:
TOTAL FUNDS BROUGHT	FORWARD					10,484,541	10,561,419
NET MOVEMENT OF FUNDS FOR THE YEAR						~631 750	~76 879
TOTAL FUNDS CARRIED	FORWARD					~i~	4L48gi4(I
Represented by:
Designated funds						9,398,711	8,785,244
General funds						1,717,580	1,699,296
						11,116,291	104484,540

		FARA	FOUNDATION	FOUNDATION	(LIMITED BYGUARANTEE)	(LIMITED BYGUARANTEE)	(LIMITED BYGUARANTEE)
			CONSOLIDATED			BALANCE SHEET
				As at 31	December 2022
				Note		Group	Charity	Group	Charity
						2022	2022	2021	2021
						E	E	E	K
FIXEDASSETS
Tangible assets				10		625,710	24,420	519,845	46,312
Investments				11		4,822,217	4,870,791	5,264,010	5,312,584
Debtors:- Amounts falling due after
one year				12			479,198		250,000
CURRENT ASSETS
Debtors				12		668,599	288,863	751,188	503,585
Cash at bank and in hand						5,274,217	5,089,326	3,887,790	3,789,920
Investments				13		930,279	930,279	923,552	923,552
						6,873,095	6,308,468	5,562,530	5,217,057
Less: CURRENT LIABILITIES
Creditors:- Amounts	falling due within
one year				14		479,379	273,324	383,360	249,031
NET CURRENT ASSETS						6,393,719	6,035,144	5,179,170	4,968,026
TOTAL ASSETSLESSCURRENT
LIABILITIES						11,841,643	11,409,552	10,963,025	10,576,922
Less: PROVISIONS FOR LIABILITIES				15		725,352	262,933	478,485	57,195
NET ASSETS						11,116,291	11,146,619	10,484,540	10,519,727
FUNDS
Unrestricted income	funds
Designated funds						9,398,711	9,398,711	8,785,244	8,785,244
General funds						1,717,580	1,747,908	1,699,296	1,734,483
TOTAL UNRESTRICTED INCOME		FUNDS		16		11,116,291	11,146,619	10,484,540	10,519,727

					GROUP CASH	GROUP CASH	FLOW STATEMENT
				For the Year Ended 31 December 2022
								2022	2021
									f
Cash flows from operating		activities:
Net cash provided by/(used		in)	operating		activities (Note A)			1,369,722	269,937
Cash flows from investing		activities:
Investment income received		(net of reinvestment)						63,541	19,680
Additions of tangible fixed assets								(16,035)	(82,074)
Proceeds of sale oftangible		fixed	assets					7,245
Purchase of investments								(321,369)	(2,108,079)
Sale of investments								283,323	1,566,098
Net cash provided by/(used		in)	investing		activities			16,705	(604,376)
Change in cash and cash	equivalents			in	the reporting	period		1,386,427	(334,439)
Cash and cash equivalents	at the		beginning		ofthe reporting		period	3,887,789	4,222,228
Cash and cash equivalents		at the end		ofthe reporting			period	5,274,217	3,887,789
Note A
Cash flows from operating		activities:
Net income/(expenditure) for the			reporting		period per the	SOFA		631,750	(76,879)
Net Insses/(gains) nn revaluaiinn			nf fixerl	assets				(165,000)	70,000
Net losses/(gains) on investments								575,719	(261,763)
Income from investments								(166,146)	(111,234)
Depreciation								69,195	84,807
Loss/(gain) on sale of fixed		asset						(1,270)
Movement in debtors								82,589	67,486
Movement in creditors								96,018	19,035
Movement in provisions								246,867	478,485
Net cash provided by/(used in) investing					activities			1,369,722	269,937

2022			FARA	FARA	Total
			Foundation	Enterprises	2022
				E	E
Retail income (shops'		sales)	4,804,715	7,069,005	11,873,720
Retail expenditure	(shops' costs)		(4,672,433)	(4,255,744)	(8,928,177)
Support costs			(4,421)	(6,504)	(10,925)
Net funds generated		from retail activities	127,861	2,806,757	2,934,619
2021			FARA	FARA	Total
			Foundation	Enterprises	2021 f
Retail income (shops'		sales)	2,507,131	5,586,943	8,094,074
Retail expenditure	(shops' costs)		(2,161,000)	(5,693,790)	(7,854,790)
Support costs			(4,239)	(9,446)	(13,685)
Net funds generated		from retail activities	341,892	(116,293)	225,599

NVESTMENT INCOME
		Total	Total
		2022	2021
income from listed investments	(reinvested)	134,283	104,995
Interest from cash held		31,863	6,239
Total investment income		166,146	111,234

					2022	2021
						E
Child,	youth	and	adult	care	1,794,199	1,734,234
					1,794,199	1,734,234

2022				Grant funding	Support
				programme	costs			Total
				2022	2022			2022
					E			f.
Grants payable Child, youth and social care				1,794,199	288,436			2,082,634
Total Expenditure	on Charitable	Activities		1,794,199	288,436			2,082,634
2021				Grant funding	Support
				programme	costs			Total
				2021	2021			2021
								E
Grants payable Child, youth	and social care			1,734,234	270,983			2,005,217
Total Expenditure	on Charitable	Activities		1,734,234	270,983			2,005,217
ANALYSIS	OF SUPPORT	COSTS
				Charity		Finance
2022		Total	Charity	staff and		charges	&
		support	admin and	consult-	Govern-	foreign			Deprecia-
		costs f	office K	ancy E	ance	exchange			tion
Grants payable: Child, youth &social care Raising Funds:		288,436 10,925	73,128	164,146	31,002 10,927	(1,733)			21,892
Shops' costs
		299,361	73,128	164,146	41,927	(1,733)			21,892
				Charity		Finance
2021		Total	Charity	staff and		charges	&
		support	admin and	consult-	Govern-	foreign			Deprecia-
		costs	office	ancy	ance	exchange			tion
						E			8
Grants payable: Child, youth and social care		270,983	57,907	177,823	15,117	401			19,734
Raising Funds:		13,685			13,685
Shops' costs
		284,668	57,907	177,823	28,802	401			19,734

Total re	sources expen	ded for the year is stated after chargin	g:-
			Total	Total
			2022	2021
Operating	lease rentals	(land and buildings)	1,648,235	1,497,684
Depreciation charges for the year			69,195	84,808
Auditor's	remuneration		10,000	11,277
Non-audit	compliance	services	7,950	4,221
			1,735,380	1,597,990

STAFF AND TRUSTEE INFORMATI	ON
2022		FARA
	FARA	Enterprises	Total
	Foundation	Limited	2022
			E
Staff costs
Salaries	92,650	3,793,452	3,886,102
Social security	8,741	431,964	440,436
Pensions	1,577	100,791	102,368
Total	102,968	4,325,938	4,428,906
2021		FARA
	FARA	Enterprises	Total
	Foundation	Limited	2021
	E	E	E
Staff costs
Salaries	67,128	3,863,657	3,930,785
Social security		330,118	330,118
Pensions	1,270	78,825	80,095
Total	68,398	4,272,600	4,340,998

15. PROVISIONS
	Group	Charity	Group	Charity
	2022 f	2022 f	2021 f	2021f
As at 1 January 2022	478,485	57,195
Arising in the year	246,867	205,738	478,485	57,195
As at 31 December 2022	725,352	262,933	478,485	57,195

2022			At 1				Transfers	At 31
			January	Incoming	Outgoing	Gains and	between	December
			2022	resources	resources	losses	funds	2022
			f		f			f
Unrestricted		funds
Designated		funds	8,785,244				613,467	9,398,711
General	funds		1,699,296	12,083,182	(11,040,713)	(410,719)	(613,467)	1,717,580
			10,484,540	12,083,182	(11,040,713)	(410,719)		11,116,291
2021			At 1				Transfers	At 31
			January	Incoming	Outgoing	Gains and	between	December
			2021f	resources f	resources	losses f	fundsf	2021
Unrestricted		funds
Designated		funds	5,632,263				3,152,981	8,785,244
General	funds		4,929,156	9,613,316	(9,881,958)	191,763	(3,152,981)	1,899,296
			10,561,419	9,613,316	(9,881,958)	191,763		10,484,540

7. ANALYSIS OF NET ASSET	S BETWEEN FUNDS
GROUP	Unrestricted		Unrestricted
	funds	Total	funds	Tota!
	2022	2022	2021	2021
		f.		Z
Tangible fixed assets	625,710	625,710	519,845	519,845
Investments	4,822,217	4,822,217	5,264,010	5,264,010
Assets	6,873,095	6,873,095	5,562,530	5,562,530
Liabilities	(1,204,731)	(1,204,731)	(861,845)	(861,845)
Total net assets	11,116,291	11,116,291	10,484,540	10,484,540
CHARITY	Unrestricted		Unrestricted
	funds	Total	funds	Total
	2022	2022	2021	2021
	E		E	E
Tangible fixed assets	24,420	24,420	46,312	46,312
Investments	4,870,791	4,870,791	5,312,584	5,312,584
Assets	6,787,666	6,787,666	5,467,057	5,467,057
Liabilities	(536,257)	(536,257)	(306,226)	(306,226)
Total net assets	11,146,619	11,146,619	10,519,726	10,519,726

	2022	2021
Within one year	1,001,815	788,250
Between one and five years	1,793,470	631,698
After more than five years	193,212
	2,988,497	1,419,948

2022				FARA	FARA
				Properties	Enterprises	Total
				Limited	Limited	2022
Subsidiary assets and liabilities					f	f
Tangible fixed assets				435,000	166,290	601,290
Debtors				4,264	678,134	682,398
Cash at bank and in hand				100,301	84,590	184,891
Creditors:-
Amounts falling due	within one year			(125,689)	(452,084)	(577,773)
Amounts falling due	after one year			(479,198)		(479,198)
Provisions for liabilities					(462,419)	(462,419)
Net assets				(65,322)	14,511	(50,811)
Capital and reserves
Called up share capital				2	5,000	5,002
Other reserves				(64,680)		(64,680)
Retained earnings				(644)	9,511	8,867
Net assets				(65,322)	14,51 'I	(50,811)
				FARA	FARA
				Properties	Enterprises	Total
				Limited	Limited	2022
Subsidiary trading results				f
Turnover				32,700	10,390,246	10,422,946
Other income					376,592	376,592
Total incoming resources				32,700	10,766,838	10,799,538
Costs ofsales					(6,083,616)	(6,083,616)
Administration and overheads				(28,378)	(1,884,791)	(1,913,168)
Unrealised revaluation	of investment		property	(165,000)		(165,000)
Net incoming resources				(160,678)	2,798,431	2,637,753
Donation to FARA Foundation				(4,322)	(2,798,431)	(2,802,752)
Net movement in shareholders'		funds		(165,000)		(165,000)

19. TRADING SUB	SIDIARI	ES (c	ontinued)
2021				FARA	FARA
				Properties	Enterprises	Total
				Limited	Limited	2021
Subsidiary assets and	liabilities			f	f	f.
Tangible fixed assets				270,000	203,533	473,533
Debtors					558,298	558,298
Cash at bank and in hand				66,452	31,418	97,870
Creditors:-
Amounts falling due within one		year		(87,576)	(357,448)	(445,024)
Amounts falling due after one year				(479,198)		(479,198)
Provisions for liabilities					(421,290)	(421,290)
Net assets				(230,322)	14,511	(215,811)
Capital and reserves
Called up share capita!				2	5,000	5,002
Other reserves				(229,680)		(229,680)
Retained earnings				(644)	9,511	8,867
Net assets				(230,322)	14,511	(215,811)
				FARA	FARA
				Properties	Fnterprisos	Total
				Limited	Limited	2021
Subsidiary trading results				f	f	f
Turnover				32,500	7,297,569	7,330,069
Other income				1,500	1,754,326	1,755,826
Total incoming resources				34,000	9,051,895	9,085,895
Costs ofsales					(6,040,188)	(6,040,188)
Administration and overheads				(26,917)	(1,793,702)	(1,820,619)
Unrealised revaluation	of investment		property	(70,000)		(70,000)
Net incoming resources				(62,917)	1,218,005	1,155,088
Donation to FARA Foundation				(7,083)	(1,218,005)	(1,225,088)
Net movement in shareholders'		funds		(70,000)		(70,000)