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|||||Page|
|---|---|---|---|---|
|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|
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|||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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)|
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