# **REGISTERED COMPANY NUMBER: 07633773 (England and Wales) REGISTERED CHARITY NUMBER: 1142532**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020 FOR**
## **POSITIVE VIEW FOUNDATION**
Gibbons Mannington & Phipps LLP Chartered Accountants Landgate Chambers 24 Landgate Rye East Sussex TN31 7LJ
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POSITIVE VIEW FOUNDATION
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## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
||**`Page`**|**`Page`**|**`Page`**|
|---|---|---|---|
|**`Reference and Administrative Details`**||`1`||
|**`Chairman's Report 2020`**|`2`|`to`|`3`|
|**`Report of the Trustees`**|`4`|`to`|`9`|
|**`Independent Examiner's Report`**||`10`||
|**`Statement of Financial Activities`**||`11`||
|**`Balance Sheet`**|`12`|`to`|`13`|
|**`Notes to the Financial Statements`**|`14`|`to`|`22`|
## **Members of the board and professional advisors.**
## **Principal Office**
29 Park Avenue Dover Kent CT16 1ES
**Registered Office** As above **Web** www.positiveview.org.uk **Directors / Trustees** Ed Hall Chair – Appointed Nov.2020 Victor Benady Julia Cole Alice Gur-Arie Francesca Wilson Chair – Retired Nov.2020 Mike Taylor Appointed February 2021 Simon Bainbridge Appointed February 2021
**Chief Executive** Andrew Page **Patron** Lord Somerleyton **Bankers** Barclays 1 Churchill Place London E14 5HP **Legal Advisors** Freeths LLP 1 Vine Street Mayfair London W1J OAH
**Independent Examiner** Gibbons Mannington & Phipps LLP Landgate Chambers Rye East Sussex TN31 7LJ
1
## **Chairman’s Statement 2020**
Launched in 2012, the Positive View Foundation is a unique charity that invests in our nation’s future generations, supporting the most disadvantaged 16-25 year olds living on estates in Inner London's most challenging boroughs. Most are experiencing the negative consequences of early life challenges - growing up in care, long-term unemployed households, and complex family backgrounds which result in teenage mental health issues.
Positive View’s innovative, and highly effective, _Youth Empowerment Programme_ uses photography and 1 to 1 mentoring to successfully lead these highly vulnerable young adults into further education, training, employment, or community voluntary work – and out of a vicious circle of family disintegration, gang violence, crime, and drugs.
## **A change to our Financial Year.**
This one-off 18-month financial period has run from 1 July 2019 to 31st December 2020 - bringing it in line with our annual Programme year that runs from 1[st] January annually.
## **Supported by The Royal Photographic Society.**
I am delighted to announce that during January 2020 Positive View was honoured by the The Royal Photographic Society formally announcing its partnership support of the Positive View Foundation.
_“Our support of Positive View is a way of demonstrating our view that photography can be used for the public benefit. In this case, taking photography into the community as a tool to successfully transform the lives of disadvantaged young people._
## **Covid-19, and how it has affected us** .
2020 has been a year like no other. But despite the challenges this year has brought us we have been able to continue to work tirelessly delivering life changing projects for deprived young people – especially those increasing numbers who have been suffering from mental health issues.
Our resilience, inventiveness and compassion has enabled us to create and launch a unique UK-wide digital/online photography project that attracted over 1.7m social media openings, and 3,524 submissions to our ‘Lockdown: Taking a positive view’ youth photography competition – which received high levels of media interest on BBC TV News, national press media and social platforms.
Continued …………
2
The unexpected and high profile success of this project has had an amazing impact on the lives of the young people who participated – summed up in just one of the many quotes we received from them: “ _My name is Emily, I am 22 years old. As a recent graduate, a lot of my life has been put on hold and unfortunately, a lot of my plans for my future are drifting away. My 5 images just purely focus on my mental state after returning home from university and the struggles I have faced internally. Being someone who struggles with mental health-related problems, I have found my self-portrait photographs can not only show how I'm feeling but also allow myself to fully explore my emotions and understand myself better during this difficult time.” – Emily._
This success has led to Positive View continuing with this vital digital/online project which will see the launch of: ‘ _Westminster: Youth Photography Awards_ ’ during January 2021; and the ‘ _UK Youth Photography Awards_ ’ during May 2021; – each lasting six months, and culminating with a public exhibition.
## **Positive View, delivering Positive Outcomes.**
The Positive View 10-week face-to-face, _‘Youth Empowerment Programme’_ will restart as soon as the youth organizations and youth estates we partner are safe to re-open after Lockdown.
Our current Impact Report demonstrates over 90% course retention – whilst successfully building confidence, self worth, well being, and future independence for the young people who we support in Inner London.
100% of those who joined the course have no perspective on what their future life will become. However, at the end of their programme our Impact Report shows: over 63% moved into further training, apprenticeships of permanent employment. A further 18% were referred on to our Follow-On partners who develop and deliver their long-term Personal Action Plans.
These impressive positive outcomes have enabled our Trustees to launch the next three-year Strategic Plan which requires Positive View to at least double its income during 2021/22 – when we plan to deliver our programme on a second deprived Inner-London borough.
At the same time the Trustees have agreed growth out of London, with the _Youth Empowerment Programme_ being launched in SE Kent (Dover and Folkestone) during May 2021.
I would like to take this opportunity to thank our many highly valued funders, trustees, stakeholders, ambassadors, pro-bono project tutors and gallery arts and community partners for their invaluable and generous contributions and philanthropic support.
I look forward to working with my colleagues to take Positive View Foundation on to the next level of our challenging and unique journey.
## **Ed Hall, Chairman.**
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## **Directors’ Report 2020.**
The Directors present their annual report and financial statements of the charitable company for the year ended 31 December 2020.
## **1. Structure, Governance and Management.**
The company is a registered charity (England and Wales); number 1142532. The full name of the charity is Positive View Foundation and it is governed by its Memorandum and Articles of Association dated May 2011. There are currently five Directors/Trustees forming the members of the Board, supported by two Advisors to the Board.
During February 2021 the Board will be increased to seven. During November 2020 Francesca Wilson resigned as Chair and Ed Hall was appointed Interim Chairman.
New Directors/Trustees are recruited through existing trustees, supporters of Positive View and professional connections. They are initially interviewed by the Chairman and Chief Executive to identify the experience and expertise they can bring to the charity. The Chairman will then put forward potential new trustees to the Board for consideration.
The Founder and Chief Executive, Andrew Page, manages the charity on a day-today basis. The Trustees approve the annual strategy and budget; arts _Youth Empowerment Programme_ ; and spend programme whilst appraising funding initiatives.
Details of Directors who served during the period are shown on page 1 of the accounts.
## **2. Objectives and activities.**
Launched in April 2012, the Positive View cultural and creative arts programme transforms deprived young lives. Positive View supports the most vulnerable young people aged 16-25 living on the poorest Inner-London estates with the highest levels of socio economic deprivation.
By utilizing photography and film in innovative participatory ways, young people – more used to crime, gang culture, violence, unemployment and alienation – are able to build a positive future that leads them onto further training, positive community participation and the pathway to employment.
Our overall aim continues to be pioneering, significant, celebrated, lifechanging, transparent and accountable. By constantly measuring ourselves against these values, we ensure our approaches are consistent with who we are and how we wish to be seen by others.
## **3. Achievements and Performance.**
In pursuance of our main objectives, the Positive View _‘Youth Empowerment Programme’_ was launched at Christie’s during May 2013.
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We tested a pilot of the Positive View _‘Youth Empowerment Programme;_ and achieved highly impressive outcomes which further guided the development of our current capacity building programme. This original estate-based project, using photography and film, was developed and piloted in partnership with one hundred and sixty 16-25 year-olds existing on London’s second most disaffected estate – the Somerleyton estate, in the London Borough of Lambeth.
The young people participating in the pilot each benefitted from one of sixteen projects over a 20-month period – involving themselves with Positive View to help design, develop and pilot a highly effective culture and creative arts project that is: engaging, skills development based; and relevant to estate participants’ lifestyles.
The final outcome demonstrated major success with over 85% course retention, successfully building confidence, self worth. Mental health; and future independence.
During 2019 – 2020, we continued to deliver our projects in Lambeth whilst developing further our partnerships with young people living in Westminster, who were referred to Positive View by: eight youth clubs; estates; and youth organizations spread from North to South of the borough.
The Trustees aim, with new additional funding, is to spread our work further across Inner-London by working with one additional borough annually – for example, Hackney, Newham and Tower Hamlets.
## **4. The effect of Covid-19 and Lockdown on our work.**
From Spring 2020, and like the majority of charities across the UK, we had to close our face-to-face ‘ _Youth Empowerment Programme’_ owing to Covid-19 Lockdown and the resulting closure of all estate youth clubs and youth organisations.
This period required the Trustees to identify, explore and test alternative ways of continuing to support vulnerable young people across Westminster – the majority of whom were becoming badly affected with stress and mental health issues.
With the guidance and support of emergency grants from The Arts Council and the Young Westminster Foundation, Positive View was able to switch its normal faceto-face ‘empowerment’ programme to an online/digital project entitled _“Lockdown: Taking a positive view”._
During January 2021, our partners, the Royal Photographic Society published: _“If the pandemic has proved challenging for young people – horizons narrowing during months of uncertainty, just when they should be broadening – many have responded with innovation and creativity. You need only look at the results of the photographic youth photography competition ‘Lockdown: Taking a positive View’ which ran for five months on social media, offering young people across the UK an outlet for constructive self-expression. After a social media campaign that attracted more than 1,700,000 openings, 3,500 young people from across the country each submitted a portfolio of five images representing their positive take on the experiences of lockdown._
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The final result. Positive View is now launching its annual “UK Youth Photography Awards” supported by the Arts Council and the Royal Photographic Society. These unique youth photography awards will become an important voice for vulnerable young people, which will culminate annually with a public curated London exhibition”.
In future, and once Lockdown is over, this digital/online programme will complement and run alongside Positive View’s face-to-face ‘ _Youth Empowerment Programme’_ .
## **5. Building the financial base.**
Trustees have revisited the operational and fundraising strategies to focus on building our financial position - especially during these tough and challenging times.
Income will continue to be focused on our capacity building programme - especially our current programmes in London’s Westminster. In addition, and with additional identified income, we aim to launch new projects on estates in Hackney, Tower Hamlets and Newham.
Additionally, during May 2021, we are launching our first project outside of London in SE Kent, initially focusing on Dover and Folkestone.
To date, Positive View fundraising strategy has been focusing on attracting partnership support from Trusts and Foundations. However, this will change during January 2021 with the appointment of our first Corporate Partnership Director and our first Director of Philanthropy – the aim being to double our income annually for each of the coming five years.
We thank all our supporters for their generosity and continuing support of Positive View – and especially for their continuing support of our highly regarded _Youth Empowerment Programme_ .
Finally, the success of our unique and innovative programme, and the delivery of our future dreams and ambitions, would not be realised without the commitment and support of our Trustees, Advisers, Board, Operational Partners, Employees, Volunteers, and the young people we support.
During 2019/2020 we are proud to have received continuing and growing support from:
Arts Council England The Sackler Trust John Lyon’s Charity Young Westminster Foundation Westminster Foundation The Marchus Trust London Community Foundation London Community Response Fund
And in SE Kent, where we launch in Dover and Folkestone during May 2021: Kent Community Foundation Port of Dover Community Fund Kent County Council
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## **6. Our Philanthropic Partnership Programme.**
As a small charitable organization – with limited, but growing income – we are committed to the further development of our _Philanthropic Partnership Programme_ which sees a growing number of London art galleries, professional photographers, and community arts organisations supporting the Positive View _Youth Empowerment Programme_ philanthropically.
## **Youth Empowerment Ambassadors** who act as our pro-bono Course Tutors:
Miles Aldridge Susan Derges Alice Gur-Arie Andrew McGovern Martin Parr Simon Roberts David Sims Tessa Traeger
**Gallery Partnerships** who provide pro-bono curatorial seminars and arts workshops:
Tate Modern The Barbican Gallery The Hayward Gallery The National Portrait Gallery The Photographers’ Gallery
## **Philanthropic Partners** who donate their professional services:
Freeths LLP, our legal advisors Liebermann Lampe, our web designers/consultants Olympus, our course cameras Royal Photographic Society, brand and photographic advisors
## **7. Making the arts accessible.**
Positive View is fully committed to ensuring that the cultural and visual arts are more accessible to both vulnerable young people, and indeed new public audiences. Our unique artistic output not only benefits and changes the lives of heavily disadvantaged young people, but opens their work up to the general public through our: annual public exhibition; and virtual/digital curated online exhibitions which feature our young people’s photographic works.
## **8. A Positive View Limited, trading company.**
A Positive View Limited is Positive View Foundation’s trading company responsible for staging our major fundraising events. The Trustees have agreed that for the foreseeable future the company will not be staging fundraising events - and therefore A Positive View Limited is currently registered as dormant.
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## **9. Statement of Public Benefit.**
The Directors’ confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the company’s aims and objectives, and in planning future activities.
Each Spring, Positive View publishes its Annual Impact Report that sets out the activities the charity has undertaken during the previous year of public benefit. This follows the Charity Commission’s guidance on how to effectively demonstrate the positive changes achieved by the deprived and vulnerable young people who Positive View supports through the delivery of its _Youth Empowerment Programme_ .
Evaluation and Monitoring forms a critical aspect of each project that is delivered. This is undertaken at the beginning, middle and end stage of each ten-week programme – measuring the positive changes delivered to, and achieved by, each participant and project.
Copies of Impact Reports are available to all Positive View stakeholders including: programme participants; funders; strategic partners; Patrons; Trustees and Ambassadors; and members of the public.
## **10. Inventory.**
The Positive View inventory is a portfolio of signed, limited edition, photographic prints, donated to Positive View by many of the world’s leading and most highly acclaimed photographers. The portfolio was last valued by Christies at £64,250.
The Board made the decision during April 2020 to attempt to sell all these works by the end of 2021, with income being used to support additional young people through our _Youth Empowerment Programme_ .
## **11. Reserves Policy.**
The total unrestricted reserves at the end of the year were £96,819. These reserves comprise of £31,863 held as general funds and £64,956 held as designated funds, representing the fixed asset investments of photographs valued at that sum.
The Trustees have given consideration to the level of reserves required by the charity. They have concluded that it would be prudent to hold general funds equivalent to six months running costs, given that the majority of the expenditure of the charity is covered by restricted funds received. This would amount to £30,000 and is covered by the general fund.
## **12. Risk Management.**
The major risks to which the charity is exposed, as identified by the Trustees, have been regularly reviewed at Trustee meetings.
Regular Board Meetings have discussed risk management where systems have been established to help manage those risks.
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## **13. Directors’ Responsibilities.**
The Directors are required by Company Law to prepare financial statements of each financial year that give a true and fair view of the state of affairs of the company and of the result of the company for that period.
In preparing these financial statements, the directors have:
- selected suitable accounting policies and applied them consistently;
- made reasonable and prudent judgements and estimates;
- stated whether Applicable Accounting Standards and Statements of Recommended Practise have been followed subject to any material departures disclosed and explained in the financial statements;
- prepared the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation.
The Directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy, at any time, the financial position of the Company and to enable it is ensure that the financial statements comply with the Companies Act 2006. The Directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In determining how accounts are presented within items in the income and expenditure account and balance sheet, the directors have had regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.
This report has been prepared in accordance with the Statement of Recommended Practise Accounting and Reporting by Charities and in accordance with the special provision of Section 415A of the Companies Act 2006 relating to small companies.
> Approved by the Board of Directors on 15 March 2021 and signed on their behalf by:
## **Ed Hall. Chairman.**
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
POSITIVE VIEW FOUNDATION
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## **`Independent examiner's report to the trustees of Positive View Foundation ('the Company')`**
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IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyforthe period
1 July 2019 to 31 December 2020.
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## **`Responsibilities and basis of report`**
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Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').
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HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b)of the 2011 Act.
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## **`Independent examiner's statement`**
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Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin connection
with the examination giving me cause to believe:
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`1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or`
`4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).`
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Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
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Mr Keith M Luck FCA
Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ
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22 March 2021 `Date: .............................................`
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POSITIVE VIEW FOUNDATION
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## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`53,541`**
**`EXPENDITURE ON`**
`Raising funds`
`3`
**`18,432`**
**`Charitable activities`**
`4`
`Youth Empowerment Project`
**`18,302`**
**`Total`**
**`36,734`**
**`NET INCOME`**
**`16,807`**
**`Transfers between funds`**
`14`
**`4,995`**
**`Net movement in funds`**
**`21,802`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`75,017`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`96,819`**|`Restricted`
`funds`
`£`
**`125,145`**
**`-`**
**`117,046`**
**`117,046`**
**`8,099`**
**`(4,995)`**
**`3,104`**
**`18,282`**
**`21,386`**|**`Period`**
**`1/7/19`**
**`to`**
`Year Ended`
**`31/12/20`**
`30/6/19`
**`Total`**
`Total`
**`funds`**
`funds`
**`£`**
_`£`_
**`178,686`**
`130,093`
**`18,432`**
`18,570`
**`135,348`**
`82,478`
**`153,780`**
`101,048`
**`24,906`**
`29,045`
**`-`**
`-`
**`24,906`**
`29,045`
**`93,299`**
`64,254`
**`118,205`**
`93,299`|**`Period`**
**`1/7/19`**
**`to`**
`Year Ended`
**`31/12/20`**
`30/6/19`
**`Total`**
`Total`
**`funds`**
`funds`
**`£`**
_`£`_
**`178,686`**
`130,093`
**`18,432`**
`18,570`
**`135,348`**
`82,478`
**`153,780`**
`101,048`
**`24,906`**
`29,045`
**`-`**
`-`
**`24,906`**
`29,045`
**`93,299`**
`64,254`
**`118,205`**
`93,299`|
|---|---|---|---|
||||`101,048`|
||||`29,045`
`-`|
||||`29,045`
`64,254`|
||||`93,299`|
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The notes form part of these financial statements
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## **`BALANCE SHEET`**
## **`31 DECEMBER 2020`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`9`
**`706`**
`Investments`
`10`
**`64,250`**
**`64,956`**
**`CURRENT ASSETS`**
`Stocks`
`11`
**`-`**
`Debtors`
`12`
**`152`**
`Cash at bank and in hand`
**`34,048`**
**`34,200`**
**`CREDITORS`**
`Amounts falling due within one year`
`13`
**`(2,337)`**
**`NET CURRENT ASSETS`**
**`31,863`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`96,819`**
**`NET ASSETS`**
**`96,819`**
**`FUNDS`**
`14`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`21,386`**
**`21,386`**
**`-`**
**`21,386`**
**`21,386`**
**`21,386`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`706`**
**`64,250`**
**`64,956`**
**`-`**
**`152`**
**`55,434`**
**`55,586`**
**`(2,337)`**
**`53,249`**
**`118,205`**
**`118,205`**
**`96,819`**
**`21,386`**
**`118,205`**|_`2019`_
_`Total`_
_`funds`_
_`£`_
_`3,064`_
_`-`_
_`3,064`_
_`64,250`_
_`1,752`_
_`26,500`_
_`92,502`_
_`(2,267)`_
_`90,235`_
_`93,299`_
_`93,299`_
`75,017`
`18,282`
`93,299`|
|---|---|---|---|
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ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the period ended 31 December 2020.
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Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe period
ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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- `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and`
- `(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.`
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The notes form part of these financial statements
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continued...
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## **`BALANCE SHEET - continued 31 DECEMBER 2020`**
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Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
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`The financial statements were approved by the Board of Trustees and authorised for issue on` 15 March 2021 `............................................. and were signed on its behalf by:`
## **Ed Hall**
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Trustee
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The notes form part of these financial statements
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POSITIVE VIEW FOUNDATION
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## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value.
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## **`Income`**
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AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
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```
Income has been credited to the Statement of Financial Activities on the following basis:
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```
-Donations and grants as receivable
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```
-Interest on an accruals basis
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```
-Donated Images and Photographs have been valued at the directors' valuation.
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## **`Allocation of overheads`**
```
Theoverheadsofthecompanyaredirectlyattributedwherepossibletotherelevant activities.
Whereexpenditurecannotbeattributedspecifically,thisisapportionedbetweenactivities based
on usage.
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## **`Expenditure`**
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Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
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## **`Allocation and apportionment of costs`**
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The costs have been allocated as follows:
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```
1)Directorsremunerationonthebasisofincomeashespendsthemajorityofhistime on
fundraising.
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2)Remainingsalary(whichrelatestotheworkdonebytheprojectmanagerpriortothe project)
to the projects on the basis of their direct costs.
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3)Overheads on the basis of allocated directors remuneration and salaries.
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## **`Tangible fixed assets`**
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Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
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```
Computer equipment- Straight line over 3 years
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Assets with a cost of £400 or more are capitalised.
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## **`Fixed asset investments/stocks`**
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Archiveofdonatedphotographsforlatersalearevaluedatthedirector'svaluationafter taking
appropriate professional advice.
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```
Duringtheyearthetrusteestransferredthevalueofthedonatedphotographsfromstockto fixed
assetinvestmentstoreflectthetrusteesintentiontokeepthemuntilsuchtimesastheycan be
sold to realise their full potential value.
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continued...
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POSITIVE VIEW FOUNDATION
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NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020
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## `1. ACCOUNTING POLICIES - continued`
## `Fixed asset investments/stocks`
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Anyimpairmentsinthevalueoftheitemsarechargedagainstdesignatedfundsintheyear that
impairments in value are identified, as are any gains or losses from the sale thereof.
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## `Taxation`
```
The charity is exempt from corporation tax on its charitable activities.
```
## `Fund accounting`
```
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
directors.trustees
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
## `Hire purchase and leasing commitments`
```
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitieson a
straight line basis over the period of the lease.
```
## `Pension costs and other post-retirement benefits`
```
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in
the period to which they relate.
```
## `Donated services`
```
Photographersandotherprofessionalconsultantshaveprovidedtheirphotography and
professional services pro bono by supporting the Youth Empowerment Project as volunteer tutors.
```
## `Subsidiary charitable trading company`
```
APositiveViewLimitedisthetradingarmofPositiveViewFoundation.APositiveViewLimited did
nottradeforthepreceding4yearsended30June2020andisnowregisteredasa dormant
company.
```
## `2. DONATIONS AND LEGACIES`
|`Donations`
`Gift aid`
`Grants`
`Donated services and facilities`|`Period`
`1/7/19`
`to`
_`Year Ended`_
`31/12/20`
_`30/6/19`_
`£`
_`£`_
`346`
_`35,094`_
`(1,250)`
_`-`_
`152,890`
_`57,999`_
`26,700`
_`37,000`_
`178,686`
_`130,093`_|
|---|---|
```
continued...
```
```
Page 15
```
```
POSITIVE VIEW FOUNDATION
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020
```
|`2.`
`DONATIONS AND LEGACIES - continued`
`Grants received, included in the above, are as follows:`
`Government furlough scheme grants`
`Non government grants`
`3.`
`RAISING FUNDS`
`Raising donations and legacies`
`Staff costs`
`4.`
`CHARITABLE ACTIVITIES COSTS`
`Direct`
`Costs`
`£`
`Youth Empowerment Project`
`68,666`
`5.`
`NET INCOME/(EXPENDITURE)`
`Net income/(expenditure) is stated after charging/(crediting):`
`Independent examination`
`Other accountancy services`
`Depreciation - owned`
`assets Other operating`
`leases`|`Period`
`1/7/19`
`to`
_`Year Ended`_
`31/12/20`
_`30/6/19`_
`£`
_`£`_
`17,329`
_`-`_
`135,561`
_`57,999`_
`152,890`
_`57,999`_
`Period`
`1/7/19`
`to`
_`Year Ended`_
`31/12/20`
_`30/6/19`_
`£`
_`£`_
`18,432`
_`18,570`_
`Support`
`costs`
`Totals`
`£`
`£`
`66,682`
`135,348`
`Period`
`1/7/19`
`to`
_`Year Ended`_
`31/12/20`
_`30/6/19`_
`£`
_`£`_
`2,472`
_`2,000`_
`2,`716
_`1,836`_
`2,358`
_`1,655`_|
|---|---|
```
continued...
```
```
Page 16
```
```
POSITIVE VIEW FOUNDATION
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020
```
## **`6. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheperiodended31December 2020
nor for the year ended 30 June 2019.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheperiodended31December2020norforthe year
ended 30 June 2019.
```
## **`7. STAFF COSTS`**
|**`STAFF COSTS`**|||
|---|---|---|
||**`Period`**||
||**`1/7/19`**||
||**`to`**|_`Year Ended`_|
||**`31/12/20`**|_`30/6/19`_|
||**`£`**|_`£`_|
|`Wages and salaries`|**`71,022`**|_`38,232`_|
|`Social security costs`|**`1,101`**|_`338`_|
|`Other pension costs`|**`900`**|_`450`_|
||**`73,023`**|_`39,020`_|
```
The average monthly number of employees during the period was as follows:
```
||**`Period`**||
|---|---|---|
||**`1/7/19`**||
||**`to`**|_`Year Ended`_|
||**`31/12/20`**|_`30/6/19`_|
|`CEO`|**`1`**|_`1`_|
|`Programme Empowerment Executive`|**`1`**|_`1`_|
||**`2`**|_`2`_|
```
No employees received emoluments in excess of £60,000.
```
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`58,093`
**`EXPENDITURE ON`**
`Raising funds`
`4,499`
**`Charitable activities`**
`Youth Empowerment Project`
`7,316`
**`Total`**
`11,815`
**`NET INCOME/(EXPENDITURE)`**
`46,278`
**`Transfers between funds`**
`(21,454)`
**`Net movement in funds`**
`24,824`|`Restricted`
`funds`
`£`
`72,000`
`14,071`
`75,162`
`89,233`
`(17,233)`
`21,454`
`4,221`|`Total`
`funds`
_`£`_
`130,093`
`18,570`
`82,478`|
|---|---|---|
|||`101,048`|
|||`29,045`
`-`|
|||`29,045`|
```
continued...
```
```
Page 17
```
```
POSITIVE VIEW FOUNDATION
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
## **`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
|`Unrestricted`
`fund`
`£`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`50,193`
**`TOTAL FUNDS CARRIED FORWARD`**
`75,017`
**`9.`**
**`TANGIBLE FIXED ASSETS`**
**`COST`**
`At 1 July 2019 and 31 December 2020`
**`DEPRECIATION`**
`At 1 July 2019`
`Charge for year`
`At 31 December 2020`
**`NET BOOK VALUE`**
`At 31 December 2020`
`At 30 June 2019`
**`10.`**
**`FIXED ASSET INVESTMENTS`**
`Other`
`There were no investment assets outside the UK.`
`Investments (neither listed nor unlisted) were as follows:`
`Photographs`||`Restricted`
`Total`
`funds`
`funds`
`£`
_`£`_
`14,061`
`64,254`
`18,282`
`93,299`
`Computer`
`equipment`
`£`
**`11,328`**
**`8,264`**
**`2,358`**
**`10,622`**
**`706`**
_`3,064`_
**`2020`**
_`2019`_
**`£`**
_`£`_
**`64,250`**
_`-`_
**`2020`**
_`2019`_
**`£`**
_`£`_
**`64,250`**
_`-`_|`Total`
`funds`
_`£`_
`64,254`|
|---|---|---|---|
||||`93,299`|
|||||
```
Fixedassetinvestmentscompriseofanarchiveofdonatedphotographsandarevaluedat the
director's valuation after taking appropriate professional advice.
```
```
Duringtheyearthetrusteestransferredthevalueofthedonatedphotographsfromstockto fixed
assetinvestmentstoreflectthetrusteesintentiontokeepthemuntilsuchtimesastheycan be
sold to realise their full potential value.
```
```
Anyimpairmentsinthevalueoftheitemsarechargedagainstdesignatedfundsintheyear that
impairments in value are identified, as are any gains or losses from the sale thereof.
```
```
continued...
```
```
Page 18
```
```
POSITIVE VIEW FOUNDATION
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
|**`11.`**
**`STOCKS`**
`Inventory`
**`12.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Intercompany`
`Prepayments and accrued income`
**`13.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
`Accrued expenses`
**`14.`**
**`MOVEMENT IN FUNDS`**
`Net`
`movement`
`At 1/7/19`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`Core`
**`75,017`**
**`19,165`**
`Designated funds`
**`-`**
**`(2,358)`**
**`75,017`**
**`16,807`**
**`Restricted funds`**
`Westminster`
**`-`**
**`5,431`**
`Folkstone`
**`3,263`**
**`12,692`**
`Lambeth`
**`3,263`**
**`-`**
`Southwark`
**`11,756`**
**`(1,783)`**
`Photography Competition`
**`-`**
**`(8,241)`**
**`18,282`**
**`8,099`**
**`TOTAL FUNDS`**
**`93,299`**
**`24,906`**||
|---|---|
```
continued...
```
```
Page 19
```
```
POSITIVE VIEW FOUNDATION
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
## **`14. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`Core`
`Designated funds`
**`Restricted funds`**
`Westminster`
`Folkstone`
`Southwark`
`Photography Competition`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`53,541`**
**`-`**
**`53,541`**
**`73,307`**
**`22,500`**
**`9,000`**
**`20,338`**
**`125,145`**
**`178,686`**
|`Resources`
`expended`
`£`
**`(34,376)`**
**`(2,358)`**
**`(36,734)`**
**`(67,876)`**
**`(9,808)`**
**`(10,783)`**
**`(28,579)`**
**`(117,046)`**
**`(153,780)`**|`Movement`
`in funds`
`£`
**`19,165`**
**`(2,358)`**
**`16,807`**
**`5,431`**
**`12,692`**
**`(1,783)`**
**`(8,241)`**
**`8,099`**
**`24,906`**|
|---|---|---|---|
## **`Comparatives for movement in funds`**
|`Net`
`movement`
`At 1/7/18`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`Core`
`50,193`
`46,278`
**`Restricted funds`**
`Westminster`
`14,061`
`(35,515)`
`Folkstone`
`-`
`3,263`
`Lambeth`
`-`
`3,263`
`Southwark`
`-`
`11,756`
`14,061`
`(17,233)`
**`TOTAL FUNDS`**
`64,254`
`29,045`|`Transfers`
`between`
`At`
`funds`
`30/6/19`
`£`
`£`
`(21,454)`
`75,017`
`21,454`
`-`
`-`
`3,263`
`-`
`3,263`
`-`
`11,756`
`21,454`
`18,282`
`-`
`93,299`|`Transfers`
`between`
`At`
`funds`
`30/6/19`
`£`
`£`
`(21,454)`
`75,017`
`21,454`
`-`
`-`
`3,263`
`-`
`3,263`
`-`
`11,756`
`21,454`
`18,282`
`-`
`93,299`|
|---|---|---|
|||`18,282`|
|||`93,299`|
```
continued...
```
```
Page 20
```
```
POSITIVE VIEW FOUNDATION
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020
```
## **`14. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`Core`
**`Restricted funds`**
`Westminster`
`Folkstone`
`Lambeth`
`Southwark`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`58,093`
`44,000`
`5,000`
`5,000`
`18,000`
`72,000`
`130,093`|`Resources`
`expended`
`£`
`(11,815)`
`(79,515)`
`(1,737)`
`(1,737)`
`(6,244)`
`(89,233)`
`(101,048)`|`Movement`
`in funds`
`£`
`46,278`
`(35,515)`
`3,263`
`3,263`
`11,756`
`(17,233)`
`29,045`|
|---|---|---|---|
## **`Restricted funds`**
```
TherestrictedincomereceivedistoconductPositiveViewYouthempowerment training
programmesfordisadvantagedyoungpeoplelivinginestatesinvariousLondonboroughs. A
restrictedfundisoperatedforeachborough.Anydeficitonthatborough'sfundswhen that
particular project is closed is transferred from the General Fund.
```
## **`Designated funds`**
```
Designatedfundsrepresentthefixedassetandfixedassetinvestmentsheldbythecharity. These
are assets used in furtherance of the charitable objectives.
```
## **`15. RELATED PARTY DISCLOSURES`**
## `CEO Donation`
```
Duringtheyearended31July2019theChiefExecutiveOfficer(MrAPage)andhiswife jointly
donated£35,094tothecharity.Thisisnotbeingtreatedasaloanasitisnotrepayableand no
amountwasoutstandingattheyearend.Thedonationisincludedasageneral unrestricted
donation and is included in note 2 of the accounts.
```
## `A Positive View Limited`
```
ThiscompanyisthetradingarmoftheFoundation.Thecompanyhasnottradedinthe4years to
30June2020andisnowdormant.MrAPage-CEOoftheFoundationisadirectorofA Positive
ViewLtd.At1July2019theCompanyowedtheFoundation£152andthisisshownas an
IntercompanyDebtor.Nofurthermonieswereadvancedduringtheperiodended31 December
2020.
```
```
continued...
```
```
Page 21
```
```
POSITIVE VIEW FOUNDATION
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2020`**
## **`16. COMPANY LIMITED BY GUARANTEE`**
```
Thecompanyislimitedbyguaranteeanddoesnothaveanysharecapital.Theliabilityof each
member of the company may not exceed £1.
```
```
Page 22
```