| _Page _ | |
|---|---|
| Trustees'AnnualReport | |
| Report oftheIndependentExaminers | 5 |
| StatementofFinancialActivities | 6 |
| BalanceSheet | 7 |
| Cashflow | 8 |
| Notes totheFinancialStatements | 9 |
| Objects,Objectives, | TheFoundation providesfundingto organisationswhosecorefocusistoseemeaningful |
|---|---|
| Governance &Management | incomeupliftforthosewhoneeditmost,as wellastofightclimatechange.Thesupportthe |
| Foundation providesisstructured asgrants,loansorequityinvestments,andfunding | |
| decisionsare alwaysdrivenbythesocialand environmentalimpact. | |
| TheDirectorsareresponsibleforthestrategicdirectionandpolicyoftheFoundation and, | |
| subject to anyprudentdelegationtoadvisersandagents,make allsubstantivedecisionsin | |
| relationtotheFoundation. | |
| ActivitiesandAchievements | Inthefinancialperiodending 31December2021,MontpelierFoundation(MF) continuedits |
| livelihoodsgrant-makingtoitslong-standingnon-profitpartnersintheUKand | |
| internationally.MF'sCovid-19reliefsmallgrantsprogrammein Perucontinuedforasecond | |
| andfinalyear,distributing over£200,000to13grassrootsorganisationsin 2021. MFalso | |
| addedthefightagainstclimatechangeasanewline ofwork,whichamountedto over | |
| £500,000ingrant-making,oraboutathirdoftotalgrants.Totalgrant-makingincreasedby | |
| 15%to£1,587,057,whilecostsdecreasedby26%to£217,064(thisincludes costsof | |
| generatingfunds,staffandsupportcosts,aswellasgovernance costs). | |
| Programme-RelatedInvestment(PRI)activitycontinuedto decreasein 2021,with nonew | |
| PRlsmadeandthetotaloutstandingbalance decreasingbyabout20%to beworth under | |
| £70,000,thankstorepaymentsfromTalentFund(Peru).MFcontinuestocarefullymonitor | |
| its PRls. | |
| FuturePlans | TheFoundationintendstocontinueitsworktofightpovertyandclimatechangegloballyat |
| similargrant-makinglevels which enablecapitalpreservation. | |
| Grant-MakingPolicy | TheFoundationmainlyprovidesgrantstonon-profitsworkingtoimprovelivelihoodsandthe |
| environmentintheGlobalSouth andtheUK.TheDirectors reservetheright tomake grants | |
| thatmayfalloutsideofthese areasinastrictsense,asdescribedintheGrant-Making | |
| Policyapproved bytheBoard,suchastocombathomelessnessortodealwith a health or | |
| humanitariancrisis. | |
| Allgrantsareapproved orpre-approvedbyDirectorsbasedoncriteriasuch asimpact, | |
| leadership,and pastand potentialgrowth,followingastandardisedduediligence process. | |
| Wedonotacceptunsolicited proposals. | |
| PublicBenefit | As requiredbythe CharitiesAct2011,theDirectorshavereferredtotheCharity |
| Commission'sgeneralguidance on publicbenefitwhenmakinggrantsandProgramme- | |
| RelatedInvestments. | |
| FinancialReview | TheFoundationreceived£82,673(2020:£182,799)ininterestanddividendincome,as well |
| as£38,922(2020:£97,292)ingrantsand donations.Outgoingscomprised ofcharitable | |
| donationsof£1,587,057(2020:£1,384,032)andrunningcostsof£217,064(2020: | |
| £283,567). | |
| Inaddition,theFoundationhadrealisedand unrealisednetgainsonitsinvestmentsand | |
| foreignexchangeof£1,158,504(2020:£924,992). | |
| Asaresult,thenetmovementoffunds wasanoutgoingof£487,512(2020:outgoingof | |
| £475,869),andtheFoundationendedtheyearwithCapitalandReservesof£8,014,953 | |
| (2020:£8,502,466). | |
| RiskManagement | Themajor riskstowhichtheCharityisexposed,asidentifiedbytheDirectors,havebeen |
| reviewed andtheDirectorsaresatisfiedthatthesystemsin placemitigatethoserisks.A | |
| RiskPolicy wasapproved bytheDirectorsaspartofthisprocess.TheRiskRegisterwas | |
| updatedasofDecember2021. |
| RiskManagement(cont'd) | ThemajorrisksasidentifiedbytheDirectorsintheRiskRegisterare: |
|---|---|
| -Economicorgovernanceriskatagranteeorganisationlevel.Thisriskismitigatedbyan | |
| extensivedue diligenceprocessandrigorousreportingrequirements,andbystaggered | |
| paymentswhicharecontingentuponsatisfactoryreporting. | |
| -Economicand politicalriskatacountrylevel.However,theriskis spread overawide | |
| rangeofcountries.Thisportfolioisreviewed bytheBoardona regularbasisto ensurethis | |
| riskremainsmitigated. | |
| -InvestmentRiskinEndowment.Outside theProgramme,theendowmentisinvestedina | |
| diversifiedportfolioofassetswithappropriaterisk/rewardprofilesfortheCharity'slong-term | |
| goals. | |
| -Particularrisksassociatedwith granteesworkingwithvulnerable groups(childrenin | |
| particular).Verifyingthe existenceandapplication ofachildprotectionpolicyispartofthe | |
| Charity'sdue diligence process.Thisincludesensuringthatpotentialgranteesorinvestees | |
| oftheCharityperformthenecessarybackgroundchecksandtrainingofemployees, | |
| volunteersandotheradultswhointeractwithvulnerablebeneficiaries. | |
| -InvestmentRiskinProgrammeRelatedInvestments (PRls).PRlsare monitoredclosely | |
| bothfinanciallyand ontheirsocialoutcomes,andtheyareimpairedand/orexitedas | |
| appropriate.Thebook valueofthefivePRlswasunder£70,000asat31December2021. | |
| InvestmentPolicyand | Under theFoundation'sArticlesofAssociation,theDirectorshavewidepowersof |
| Performance | investmentinrespectoftheFoundation'sassets.Inrecognitionoftheirgeneraldutyof |
| prudenceandtheneed tohave properregardtothesuitabilityofinvestmentsandtheneed | |
| toconsiderdiversification,theDirectorshaveadoptedthecurrentinvestmentpolicyto | |
| maintainacertainlevelofincomeandcapitalgrowthwhileavoidingspeculative or | |
| hazardousinvestments suchasfuturesortradedoptions.Theprudentinvestmentofthe | |
| Foundation'sassetscontinuedwith abalance ofcashandinvestmentsprovidingboth | |
| incomeandthepotentialforcapitalappreciation.TheDirectorsreviewedthepositionsof | |
| thenon-PRIinvestmentportfolio andnotedthediversificationintermsofassetclass, | |
| sector,geography,andcurrencyexposure.Additionally,theboardnoted aninvestment | |
| portfolioXIRRof12.1%fromtheperiodfrom14September2011to31December2021and | |
| of23.4%forcalendaryear2021.TheFoundation'sassetshavenotdiminishedintenyears | |
| fromthestartingpointof£8.1millionasat theend of2011,despitea netdistributionin | |
| grantsandprogramme-relatedinvestmentsofover£8.5million over thesameperiod. | |
| Regarding theProgrammeRelatedInvestment(PRI)strategy, ilisalignedwiththe | |
| charitablemissionand objectivesoftheFoundation.TheFoundation's socialinvestments | |
| are designedto achievethefinancialsustainabilityandscaleofthetargetedenterprises, | |
| whilstseekingasocialreturn oninvestment.In2021,therewerenonewPRlsandthese | |
| wereworthunder£70,000. | |
| CharityGovernanceCode | TheBoard have notedtheupdatestothe CharityGovernanceCode.Thecharityaimsto |
| embodytheprinciplesofequality,diversityandinclusion(EDI)throughitsinvestmentand | |
| grant-making,forexamplebyavoidingfundingorganisationsoflowintegrityandchoosing | |
| granteeswithparticipatorypractices(suchas community-leddevelopment,representation | |
| ofthepeopleserved bythecharityin processesandadvisoryboards,etc).TheBoardwill | |
| also bemindfulofEDIwhenappointing anynewdirectors. | |
| Reserves Policy | TheTrusteeshavedeterminedthatMFshould maintain 50%ofitsannualstaffand |
| governancecostsinreserves.Thisfigureamountsto£96,603(2020:£131,688),whichis | |
| sufficientlycoveredbyunrestrictedfundstotalling £8,014,953asat31December2021 | |
| (2020:£8,439,823).Lookingforward,the grant-makingactitivitiesandthecharity'scostsare | |
| expected toremain atthesameleveltoallowMFtocontinueitsworkfortheforeseeable | |
| future. | |
| AppointmentofNewDirectors | NewDirectorsmaybeappointed bytheshareholdersorbytheDirectorsthemselves,tofill |
| avacancyorasanadditionalDirector. Inrespectoffuture appointments,theFoundation | |
| shallselectappropriateDirectorsandprovidetothemwiththenecessarymaterialsand | |
| trainingto acquaint themwiththegovernanceandpoliciesoftheFoundation aswellaswith | |
| whatisexpectedofthem.Additional informationisprovided totheDirectorsonanongoing | |
| basis. | |
| IndependentExaminers | MooreKingstonSmith LLPhaveindicatedtheirwillingnesstocontinueinoffice andin |
| accordancewiththeprovisionsoftheCompaniesAct,itisproposedthat theybere- | |
| appointedindependentexaminersforthe ensuingyear. |
1 September 2022
| **2021 ** | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | **Total ** | Total | ||
| Note | Funds | Funds | **Funds ** | Funds | |
| £ | £ | £ | £ | ||
| **INCOME ** | |||||
| Investments | 3 | 82,673 | 82,673 | 182,799 | |
| Grants anddonations | 4 | 38,922 | **38,922 ** | 97,292 | |
| **TOTAL INCOMING RESOURCES ** | 82,673 | 38,922 | **121,595 ** | 280,091 | |
| **EXPENDITURE ** | |||||
| GeneratingFunds | 5 | 11,774 | 11,774 | 10,380 | |
| Charitableactivities | 6 | 1,690,782 | 101,565 | **1,792,347 ** | 1,667,599 |
| **TOTAL RESOURCES EXPENDED ** | 1,702,556 | 101,565 | **1,804,121 ** | 1,677,980 | |
| **NET INCOME/(EXPENDITURE) ** | (1,619,883) | (62,643) | (1,682,526) | (1,397,888) | |
| **NETGAINS/(LOSSES) ON INVESTMENTS ** | |||||
| Realised | 11.1 | 181,003 | 181,003 | 121,191 | |
| Unrealised | 11.1 | 977,501 | 977,501 | 803,801 | |
| 1,158,504 | 1,158,504 | 924,992 | |||
| **OTHER RECOGNISED GAINS/(LOSSES) ** | |||||
| Gains/{losses)onforeign exchange | 36,511 | **36,511 ** | (2,973) | ||
| **NET MOVEMENT IN FUNDS ** | **(424,868) ** | **(62,643) ** | **(487.511) ** | (475.869) | |
| **RECONCILLIATION OF FUNDS ** | |||||
| Totalfundsbroughtforward | 15 | 8,439,821 | 62,643 | 8,502,464 | 8,978,333 |
| TOTAL FUNDS CARRIED FORWARD | 8,014,953 | **8,014,953 ** | 8,502,464 |
| Note | **2021 ** | 2020 | |
|---|---|---|---|
| £ | £ | ||
| **FIXED ASSETS ** | |||
| TangibleAssets | 10 | 448 | 852 |
| Investments: | |||
| Investments | 11.1 | 5,376,695 | 6,616,841 |
| Programmerelatedinvestments | 11.2 | 69,563 | 87,911 |
| 5,446,706 | 6,705,604 | ||
| **CURRENT ASSETS ** | |||
| Debtors | 12 | 11,058 | 13,778 |
| Cash atBankandinHand | 2,569,137 | 1,795,763 | |
| 2,580,195 | 1,809,541 | ||
| **LIABILITIES ** | |||
| Creditors:fallingduewithinoneyear | 13 | (11,947) | (12,680) |
| **NETCURRENT ASSETS ** | 2,568,248 | 1,796,861 | |
| **TOTAL ASSETS LESS LIABILITIES ** | 8,014,954 | 8,502,465 | |
| **CAPITAL AND RESERVES ** | |||
| ShareCapital | 14 | 1 | 1 |
| Unrestrictedreserves | 15 | 8,014,953 | 8,439,821 |
| RestrictedReserves | 15 | 62,643 | |
| 8,014,954 | **8,502,465 ** |
| CASHFLOWSTATEMENT | ||||
|---|---|---|---|---|
| **Notes ** | **2021 ** | **2020 ** | ||
| £ | £ | |||
| **Cash generated from operating activities: ** | ||||
| Netcashprovidedby(usedin)operating activities | seebelow | (1,751,754) | (1,560,379) | |
| **Cash flows from investing activites: ** | ||||
| Dividends,interest andrentsfrominvestments | 3 | 82,673 | 182,799 |
|
| Purchase ofinvestments | 11.1&11.2 | (553,652) | (1,574,855) | |
| Proceedsfromsaleofofinvestments | 111&11.2 | 2,966,606 | 3,393,204 |
|
| (Profit)/LossonForexdifferences | 36,511 | (2,973) | ||
| InvestmentManagementFees | 5 | (7,010) | (7,553) | |
| **Net cash provided by investment investing activities ** | **2,525,128 ** | **1,990,622 ** | ||
| Changeincashandcashequivalentsinthereportingperiod | 773,374 | 430,243 | ||
| **Cash and cash equivalents at the beginningof the reportingperiod ** | **1,795,763 ** | **1,365,521 ** | ||
| **Cash and cash equvalents at the endof the reporting period ** | **2,569,137 ** | **1,795,763 ** | ||
| **Reconciliation of net income/(expenditure) to net cash flow from operating activities ** | ||||
| **2021 ** | **2020 ** | |||
| £ | £ | |||
| **Net income/ (expenditure) (as per the statement of ** | **Notes ** | **SOFA ** | **(487,511) ** | **(475,869) ** |
| **financial activties) ** | ||||
| **Adjustments for: ** | ||||
| Depreciationcharges | 10 | 404 | 1,043 | |
| Dividends,interest andrentsfrominvestments | 3 | (82,673) | (182,799) | |
| Loss/(profit)onForexdifferences | (36.511) | 2,973 |
||
| Revaluationofinvestments | 11.111.2 | (1,154,461) | (911,765) |
|
| InvestmentManagementFees | 5 | 7,010 | 7,553 |
|
| (lncrease)/decreasein debtors | 12 | 2,720 | (650) | |
| lncrease/(decrease)increditors | 13 | (732) | (1,282) | |
| **Net cash provided by (used in) operatingactivities ** | **(1,751,754) ** | **(1,560,796) ** | ||
| **Analysis of cash and cash equivalents ** | ||||
| **2021 ** | **2020 ** | |||
| £ | £ | |||
| **Total cash andcash equivalents ** | **2,569,137 ** | **1,795,763 ** |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| IncomefromInvestments | 73,486 | 73,486 | ||
| Interestoncashdeposits | 9,187 | 9,187 | ||
| 82,673 | 82,673 | |||
| Yearto 31December2020 | ||||
| Unrestricted | Restricted | Total | ||
| £ | £ | £ | ||
| IncomefromInvestments | 66,445 | 66,445 | ||
| InvestmentManagementFeeRebates | 440 | 440 | ||
| Interestoncashdeposits | 115,914 | 115,914 | ||
| 182,799 | 182,799 | |||
| **4. GRANTS ANDDONATIONS ** | ||||
| Yearto 31December2021 | ||||
| Unrestricted | Restricted | Total | ||
| £ | £ | £ | ||
| PeruCovidReliefProgramme | 37,000 | 37,000 | ||
| SupportLaoChildrenFund | 1,922 | 1,922 | ||
| 38,922 | 38,922 | |||
| Yearto31December2020 | ||||
| Unrestricted | Restricted | Total | ||
| £ | £ | £ | ||
| MontpelierAssetManagement | 19,477 | 19,477 | ||
| PeruCovidReliefProgramme | 60,000 | 60,000 | ||
| SupportLaoChildrenFund | 17,815 | 17,815 | ||
| 19,477 | 77,815 | 97,292 | ||
| Page11 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Travel&Entertainment | 56 | 56 | |
| Subscriptions | 4,255 | 4,255 | |
| BankCharges | 453 | 453 | |
| InvestmentManagementFees | 7,010 | 7,010 | |
| 11,774 | 11,774 | ||
| Yearto 31December2020 | |||
| Unrestricted | Restricted | Total | |
| £ | £ | £ | |
| Travel&Entertainment | 684 | 684 | |
| Subscriptions | 1,716 | 1,716 | |
| Bank Charges | 427 | 427 | |
| InvestmentManagementFees | 7,553 | 7,553 | |
| 10,380 | 10,380 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| **Analysis of donations and grants ** | |||
| RaspberryPiFoundation | 15,000 | 15,000 | |
| BOMA | 109,369 | 109,369 | |
| SheffieldFutures | 7,500 | 7,500 | |
| ClientEarth | 350,000 | 350,000 | |
| SupportLaoChildren | 50,658 | 4,565 | 55,223 |
| HelpingHandsBolivia | 79,737 | 79,737 | |
| GlobalGreengrantsFundUK | 143,771 | 143,771 | |
| ResurgoTrust | 100,000 | 100,000 | |
| GeckoProjectsInvestigationsLtd | 15,000 | 15,000 | |
| RighttoSucceed | 152,000 | 152,000 | |
| DriveForwardFoundation | 75,000 | 75,000 | |
| DepaulUK | 55,000 | 55,000 | |
| ProximityDesigns | 73,137 | 73,137 | |
| BridgestoProsperity | 54,789 | 54,789 | |
| AmalAcademy | 95,078 | 95,078 | |
| PeruCovidReliefProgramme | 109,453 | 97,000 | 206,453 |
| 1,485,492 | 101,565 | 1,587,057 | |
| Staffcosts(seenote 9) | 188,212 | 188,212 | |
| Supportcosts(seenote 7) | 4,994 | 4,994 | |
| Governance Costs | 12,084 | 12,084 | |
| TotalCharitable activities | 1,690,782 | 101,565 | 1,792,347 |
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| **Analysis of donations and grants ** | |||
| ActionTutoring | 75,000 | 75,000 | |
| **BOMA ** | 113,054 | 113,054 | |
| LaDifférenceDRC | 15,000 | 15,000 | |
| YMCA NorthStafford | 20,000 | 20,000 | |
| SupportLaoChildren | 55,033 | 18,585 | 73,618 |
| HelpingHandsBolivia | 47,233 | 99 | 47,332 |
| Educate Girls | 112,444 | 112,444 | |
| ResurgoTrust | 102,500 | 102,500 | |
| Medha | 56,222 | 56,222 | |
| RighttoSucceed | 150,000 | 150,000 | |
| NationalEmergenciesTrust | 200,000 | 200,000 | |
| DriveForwardFoundation | 50,000 | 50,000 | |
| DepaulUK | 50,000 | 50,000 | |
| ProximityDesigns | 75,791 | 75,791 | |
| BridgestoProsperity | 58,050 | 58,050 | |
| AmalAcademy | 56,925 | 56,925 | |
| PeruCovid ReliefProgramme | 128,096 | 128,096 | |
| 1,365,348 | 18,684 | 1,384,032 | |
| Staffcosts(seenote 9) | 240,872 | 240,872 | |
| Supportcosts(seenote 7) | 22,505 | 22,505 | |
| Governance Costs | 20,191 | 20,191 | |
| TotalCharitableactivities | 1,648,916 | 18,684 | 1,667,600 |
| Generating | Charitable | ||
|---|---|---|---|
| Funds | Actvities | Total | |
| £ | £ | £ | |
| OfficeUsere-charge | 2,668 | 2,668 | |
| ComputerSupport | 344 | 344 | |
| Depreciation | 404 | 404 | |
| Postage | 26 | 26 | |
| Supplies | 22 | 22 | |
| Insurance | 1,266 | 1,266 | |
| Couriers | 110 | 11O | |
| Telephone | 154 | 154 | |
| 4,994 | 4,994 | ||
| GovernanceCosts | 12,084 | 12,084 | |
| 17,078 | 17,078 |
| Generating | Charitable | ||
|---|---|---|---|
| Funds | Actvities | Total | |
| £ | £ | £ | |
| OfficeUsere-charge | 19,477 | 19,477 | |
| ComputerSupport | 422 | 422 | |
| Depreciation | 1,043 | 1,043 | |
| Postage | 10 | 10 | |
| Supplies | 60 | 60 | |
| Insurance | 1,118 | 1,118 | |
| Telephone | 375 | 375 | |
| 22,505 | 22,505 | ||
| GovernanceCosts | 20,191 | 20,191 | |
| 42,696 | 42,696 |
| **2021 ** | **2020 ** | |
|---|---|---|
| £ | £ | |
| Accountancy | ||
| Auditor'sfee | 2,220 | 14,772 |
| IndependentExaminer'sfee | 6,000 | |
| OverseasAuditor'sfee | 4,107 | |
| Legaland professionalfees | 3,864 | 1,312 |
| 12,084 | **20,191 ** | |
| **9. ST AFF COSTS ** | ||
| **2021 ** | **2020 ** | |
| £ | £ | |
| Gross salaries | 155,926 | 200,861 |
| Socialsecurity costs | 16,532 | 21,105 |
| PrivateHealthInsurance | 6,637 | 6,913 |
| PensionContributions(ScottishWidowsWorkplacePensionScheme) | 9,117 | 11,993 |
| **188,212 ** | **240,872 ** |
| **10. FIXED ASSETS ** | |
|---|---|
| **Tangible Assets ** | Computer |
| equipment | |
| £ | |
| Costor marketvalue | |
| At1January2020 | 7,805 |
| Additions | |
| At31December2020 | 7,805 |
| **Depreciation ** | |
| At1January2021 | 6,953 |
| Chargefortheyear | 404 |
| At31December2021 | 7,357 |
| Net book value | |
| At31December2021 | **448 ** |
| At31December2020 | 852 |
| **Listed Investments ** | **Quoted ** | Quoted |
|---|---|---|
| **Investments ** | Investments | |
| **2021 ** | 2020 | |
| £ | £ | |
| Balancebroughtforward | 6,616,840 | 7,475,187 |
| Acquisitionsatcost | 553,652 | 1,574,855 |
| Less:disposalproceeds | (2,952,302) | (3,358,194) |
| NetRealised(Losses)/gainsondisposals | 181,004 | 121,191 |
| NetUnrealisedgain onrevaluation | 977,501 | 803,801 |
| **Market ValueCarried Forward ** | **5,376,695 ** | **6,616,840 ** |
| _Historical Cost _ | _2,672,942 _ | _4,044,277 _ |
| **Geographical Analysis ** | ||
| UnitedKingdominvestments | 2,395,678 | 2,910,136 |
| Overseasinvestments | 2,981,017 | 3,706,704 |
| 5,376,695 | **6,616,841 ** |
| Thefollowinginvestmentscomprisein excessof5%ofthevalueoftheportfolio: | |||
|---|---|---|---|
| QuotedInvestments | **Valueasat 31 Dec2021 ** | ||
| SPOR S&P500ETF TRUST | £ | 1,876,273 | |
| iSharesIllPLCMSCIWorldUCITA(GBP) | £ | 1,548,360 | |
| VanguardInformationTechnologyETF | £ | 659,700 | |
| EmpiricStudentPropertyPic | £ | 479,511 | |
| QuotedInvestments | **Valueasat 31 Dec 2020 ** | ||
| SPORS&P500ETFTRUST | £ | 1,640,664 | |
| iSharesIllPLCMSCIWorldUCITA(GBP) | £ | 1,252,316 | |
| 7.875%LloydsBank2014withoutfixedmaturity | £ | 1,240,200 | |
| ArisaigGlobalEmergingMarketsConsumerFundLimited | £ | 664,219 | |
| VanguardInformationTechnologyETF | £ | 621,002 | |
| EmpiricStudentPropertyPic | £ | 417,621 | |
| Page15 |
| **Asat 31 December 2021 ** | **Level 1 ** | **Level 2 ** | **Level 3 ** | **Total ** |
|---|---|---|---|---|
| Managedfunds | 5,376,695 | 5,376,695 | ||
| Programmerelatedinvestments | 69,563 | 69,563 | ||
| Total | 5,376,695 | 69,563 | 5,446,258 | |
| **Asat 31 December2020 ** | **Level 1 ** | **Level 2 ** | **Level3 ** | **Total ** |
| Managedfunds | 6,616,841 | 6,616,841 | ||
| Programmerelated investments | 87,911 | 87,911 | ||
| Total | 6,616,841 | 87,911 | 6,704,752 | |
| **11.2. FIXED ASSET PROGRAMME ** | **RELATED INVESTMENTS ** | |||
| **Programme related ** | ||||
| **Investments ** | Total | |||
| **2021 ** | 2020 | |||
| £ | £ | |||
| Balance broughtforward | 87,911 | 136,150 | ||
| CapitalRepayments | (14,304) | (35,010) | ||
| FXRevaluation | (4.044) | (13,228) | ||
| **Market Value Carried Forward ** | **69,563 ** | **87,911 ** | ||
| **2021 ** | 2020 | |||
| Programme Related Investments | **Total ** | Total | ||
| TalentFundPeru | 18,204 | 36,552 | ||
| FutureShapers(Sheffield)' | 325 | 325 | ||
| lngaboPlantHealth | 41,362 | 41,362 | ||
| RumbukaSeeds | 9,672 | 9,672 | ||
| **69,563 ** | **87,911 ** |
| **2021 ** | **2020 ** | **2020 ** | |||||
|---|---|---|---|---|---|---|---|
| **Total ** | **Total ** | ||||||
| £ | £ | ||||||
| Accruals | 10,468 | 12,690 | |||||
| Othercreditors | 1,479 | (10) | |||||
| **11,947 ** | **12,680 ** | ||||||
| **14. SHARE CAPITAL ** | **Allocated, ** | ||||||
| **Called Up ** | |||||||
| **andFully ** | |||||||
| **Authorised ** | **Paid ** | ||||||
| £ | £ | ||||||
| Ordinarysharesof£1eachat1Januaryand31December | 2021 | ||||||
| 15. MOVEMENT OF RESERVES | |||||||
| 1st January | **Incoming ** | **Outgoing ** |
Gains & | **Fund ** | **31st December ** | ||
| **2021 ** | **Resources ** | **Resources ** |
**(Losses) ** | **Transfers ** | **2021 ** | ||
| £ | £ | £ |
£ | £ | £ | ||
| **Restricted Funds: ** | |||||||
| SupportLaoChildrenFund | 2,643 | 1,922 | (4,565) | ||||
| PeruCovidReliefProgramme | 60,000 |
37,000 | (97,000) | ||||
| HelpingHandsFund | |||||||
| **Total Restricted Funds ** | **62,643 ** | **38,922 ** | **(101,565) ** | ||||
| **Unrestricted Funds: ** | |||||||
| Unrestrictedgeneralfunds | 8,439,821 | 82,673 | (1,702,556) | 1,195,015 | 8,014,953 | ||
| **Total Funds ** | **8,502,464 ** | **121,595 ** | **(1804.121) ** | **1,195,015 ** | **8,014,953 ** |
| Yearto 31December2021 | |||
|---|---|---|---|
| **Unrestricted ** | **Restricted ** | **Total ** | |
| **Funds ** | **Funds ** | **2021 ** | |
| £ | £ | £ | |
| **Fixed assets andinvestments ** | 5,446,706 | 5,446,706 | |
| **Current assets ** | 2,580,195 | 2,580,195 | |
| **Creditors ** | (11,947) | (11,947) | |
| 8,014,954 | **8,014,954 ** |
| Yearto31December2020 | |||
|---|---|---|---|
| **Unrestricted ** | **Restricted ** | **Total ** | |
| **Funds ** | **Funds ** | **2020 ** | |
| £ | £ | £ | |
| **Fixed assets and investments ** | 6,705,604 | 6,705,604 | |
| **Current assets ** | 1,746,898 | 62,643 | 1,809,541 |
| **Creditors ** | (12,680) | (12,680) | |
| **8,439,822 ** | **62,643 ** | **8,502,465 ** |