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2022-06-30-accounts

Charity registration number 1145679

Company registration number 07839372 (England and Wales)

THE CAMELLIA FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

THE CAMELLIA FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M A Knight Dr T Y Takla S C Turner C P Smith Managing Director S C Turner Charity number 1145679 Company number 07839372 Registered office The Scalpel 18th Floor 52 Lime Steet London United Kingdom EC3M 7AF Independent examiner M Wilkes FCA Azets Audit Services Globe House Eclipse Park Sittingbourne Road Maidstone Kent United Kingdom ME14 3EN Bankers CAF Bank Limited 25 Kings Hill Avenue West Malling Kent United Kingdom ME19 4JQ

THE CAMELLIA FOUNDATION

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 18

THE CAMELLIA FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2022

The Trustees present their report and the financial statements of the charity for the year ended 30 June 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Charity was incorporated on 8 November 2011 with company registration number 07839372 and registered with the Charity Commission in January 2012 with charity registration number 1145679. Its registered address is as set out on the Legal and Administrative page. The Charity’s purposes are as follows.

The achievement of our objectives is primarily dependent on the ability of those we support to implement their plans; this is not always straightforward, particularly in developing regions.

Our primary goal is to develop relationships which exist through our Director/Trustees, and identify and build new relationships with established organisations which allocate funding in the areas to which our objects relate. Where we believe that these organisations share one or more of our purposes, and are efficient in their use of resources, we will consider providing them with funding. Another key objective is the direct funding of projects which fall within our objects. We anticipate, as a grant-making body, receiving requests to provide such funding as part of a broad request for donations. Thirdly, we envisage funding individuals directly where their activities fall within our objects. Developing and maintaining strong links with individuals who are engaged with activities relating to our charitable purposes is likely to provide mutual benefits as our work progresses.

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the guidance contained in the Charity Commission’s general guidance on the public benefit when reviewing the Foundation’s aims and objectives and in the planning of future activities.

THE CAMELLIA FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

Achievements and performance

We have continued to build on our relationships with existing and new donee organisations.

The Charity judges its impact on the quality of the relationships developed with its beneficiaries, who themselves so positively influence their communities. We are pleased to note that our activities fell within our budgeting, and that we were able to provide additional support where necessary.

Donations made in this period totalled £288,160 (2021: £357,723). Approximately 57% of this amount was donated for educational purposes, including funding for a small boarding school for children of agricultural workers in Bangladesh, an institute in Canada which promotes social and emotional skills in young children and also an organisation which aims to promulgate values-based philosophy, psychology and science in an authentic, universal and accessible form. Around 5% went to organisations which aim to preserve Tibetan culture, including support for a Buddhist Meditation and Teaching Centre situated in South London. Around 21% of the funding was provided for health organisations, including grants to a charity that provides emergency maternity and neonatal funding as well as running training programmes for maternity assistants in the Himalayan region. Approximately 7% of funding went to organisations working towards relief of poverty, including assisting a project in East Africa which aims to improve lives of children. The Charity also continued funding projects which protect the natural environment and promote religious harmony.

Our donees were primarily located in Bangladesh, Canada, Germany, India, the UK and the USA; their beneficiaries were situated in these and other countries, including Kenya, Malawi, Myanmar, and Tibet.

Donations made in the period to 31 December 2022 totalled £286,770 (2021: £179,463). As well as continuing to work with existing beneficiaries, we provided assistance to a UK hospice which is developing palliative care capacity in Bangladesh and a UK organisation helping Malawian farmers develop new, more productive methods of food production whilst also restoring forests as a climate change mitigant.

The Trustees have reviewed the major risks to which the Charity is exposed and systems have been established to mitigate those risks. All grants have to be notified to all Trustees, and those above £5,000 approved by the Donations Committee.

Financial review

During the period under review, the Charity relied on a principal donor for its income, although it has in the past received donations from other sources.

We should like to thank our principal donor, and particularly our Charity Trustees, whose time and talents remain crucial to the Charity’s continuing work.

The financial results of the Charity are set out on pages 6 to 18.

Income for the year amounted to £579,448 (2021: £621,000).

Expenditure during the year totalled £545,874 (2021: £600,912), including charitable grants approved of £288,160 (2021: £357,723). The main recipients of the grant payments are set out in note 5.

Net income for the year amounted to £33,574 (2021: net income £20,088) and total funds at 30 June 2022 therefore amounted to £195,023 (2021: £161,449), all of which are unrestricted.

Reserves policy

The financial policy is decided by the Trustees in regular meetings so that funds can be distributed in accordance

with the articles of association.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least six months' expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year, the closing balance being £195,023.

THE CAMELLIA FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

Financial review (continued)

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

We anticipate making more contacts with organisations in the fields which are covered by our objects and, where possible, will begin to develop initiatives which we can either deliver by ourselves, or encourage others to deliver. There is a great deal of potential for making small amounts go a long way, and we hope to join with efficient, wellrun organisations to make a beneficial impact in our local and global community.

Going concern

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt a going concern basis in preparing the annual financial statements.

Further details regarding the adoption of the going concern basis can be found in note 1.2 to the financial statements.

Structure, governance and management

The Charity is a company limited by guarantee, governed by articles of association and regulated by both company and charity legislation.

The Trustees (and Directors) who served during the year and up to the date of signature of the financial statements were:

S C Buckland (Resigned 5 October 2022) M A Knight Dr T Y Takla S C Turner C P Smith

In the event of the dissolution of The Camellia Foundation any net remaining assets of the Charity shall be applied or transferred in any of the following ways:

Under the articles of association, applications for statutory membership of the Charity are considered by the Board of Trustees/Directors, and either the Directors or the members may appoint Directors (who must also be trustees and statutory members of the Charity).

At 30 June 2022 there were 5 statutory members each of whom had a personal liability not exceeding £10 in the event of the charitable company being wound up while they are members or within a year thereafter.

The Board of Trustees/Directors meets at least on a quarterly basis, and there are two committees of the Board, a donations committee and an accounts review committee, which meet as and when appropriate to fulfil their functions.

Trustees are briefed prior to meetings and whenever else is necessary. Where practical, Trustees are able to meet with beneficiary organisations, and they are regularly informed as to the nature of the beneficiaries generally; training on important board issues is also considered periodically. Any new trustee would meet with all of the Trustees/Directors prior to being invited onto the board and would then be comprehensively inducted by them through discussion of the vision of the Charity, as well as its policies and procedures.

In the relevant period Simon Turner was the Managing Director. There are appropriate provisions in the articles of association dealing with the avoidance of conflicts of interest, and these have been applied.

THE CAMELLIA FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 'reclors g8neT¥Uy rncel¥e r￿ reffwneration for holdtsig Ihat olkn or wlm'ng thbt njle. fv of the Dlre¢lxs Is remunerated lor hls wcrfk la$ Managing Dirpclorl lolknvNvJ Chasity Comrniss￿n #p￿￿al. arY the hv¢l of hi$ reM￿Of?￿On 18 governed by wriiten 89reemenl. sin￿ the Charity Iws a $rnall board. no ttjmmittee io rth remun8ration or offty￿140Iated mall T1￿ repthi has been wepgro(J hovhw takAn of th• smol COMF￿1•$ •xenty1￿ kn th• C(MMpanies Acl Th• Tru8lees' rw waB #pwoved ty11%9 8(wd d TTho1e•s. MAKnWI 'rrust¢e Dat•d: 30 S4Ak%N.IPL3

THE CAMELLIA FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CAMELLIA FOUNDATION

I report to the Trustees on my examination of the financial statements of The Camellia Foundation (the charity) for the year ended 30 June 2022 which are set out on pages 6 to 18.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

M Wilkes FCA Azets Audit Services

Globe House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN United Kingdom

Dated: 7 February 2023

THE CAMELLIA FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2022

Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 3 579,431 621,000
Investments 4 17 -
Total income 579,448 621,000
Expenditure on:
Charitable activities 5 545,874 600,912
Net movement in funds 33,574 20,088
Fund balances at 1 July 2021 161,449 141,361
Fund balances at 30 June 2022 195,023 161,449

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE CAMELLIA FOUNDATION BALANCE SHEET ASAT30JUNE 2022 2021 Flx•d M••t• T4rykn18 assets 10 6.511 31.417 ¢urr•nt u••l• 11 11.142 171.61 Cash at bank Ind in har 207,057 214.877 182,748 Cr•dll•x•: amounts klllng ikn fthln on• y••r 12 128,3651 (52.716) N•t CUff•ni •st•ls 188.512 130,032 195.023 161,449 Incom• lund• U￿¥trk1Od luThl• 195.023 161,449 195.023 161,449 Tho compary 1$ enli1￿d to Ihfr •x•rnplkn fmm Ihe thxltt req￿￿n￿rt c¢%alnod 477 ollh• CompJrAe•Acl 2006. lor th• ￿ar •ntS•d 30 2022. The dtrtttorn •thnowknlg¢ wponilbill￿ f(Y Wilh lh• rnquk•ffnts ol th• Cofflp•r4•J Acl 20Q8 respecl to o¢c4)unUr#J rKoftl# the pr•parnlion of fin•nclal Stst0n￿ts. Th• mOrnb￿ ha￿ Ml rnquir•d th• cornpwy lo otlain ￿ wlil of its fin•nra•l Stat0Th￿ for Iho y•ar ￿ qu•st In accwdance with s•dlM 476. to tho Small com￿nI•s roglmo. Th• Ih4fwS¥l 8tslom￿ts ¥¥•rn aFsYov•d ty Tn*l••s on ...- . ........... M A Knighl TruBt•• SCTUM Ctyyiy Regi•tr•tloTr Ng. 07839372

THE CAMELLIA FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2022

Notes
Cash flows from operating activities
Cash generated from operations
15
Investing activities
Interest received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
17		 £
35,434
17
-
35,451
171,606
207,057		 2021
£
-		 £
5,708
-
-
5,708
165,898
171,606

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

Charity information

The Camellia Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Scalpel, 18th Floor, 52 Lime Steet, London, EC3M 7AF, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. No restricted funds existed during the year under review.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings:

In the Trustees' opinion all expenditure for the year was incurred on charitable activities.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grant expenditure is recognised when awarded to the recipient. The expense is included on an accruals basis in the year in which a legal or constructive obligation to pay the grant arises.

Support costs are an integral part of the charity's expenditure on charitable activities and include essential office costs, governance costs and administrative costs. These are incurred directly in support of the expenditure on the objects of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised annually so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment

15% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined pension contribution plan for the benefit of one of its employees. Contributions are expensed as they become payable.

1.12 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

2 Critical accounting estimates and judgements

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No judgements or key assumptions were made in the preparation of the accounts.

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2022 2021
£ £
Donations and gifts 579,431 621,000
Investments
Unrestricted Total
funds
2022 2021
£ £
Interest receivable 17 -

4 Investments

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

5 Charitable activities

Staff costs Direct costs
2022
2022
£
£
Staff costs (note 8)
187,181
-
Depreciation
-
-
Staff insurance - BIK
6,890
-
Bank charges
-
603
Travel, subsistence and meeting costs
-
9,562
Sundry expenses
-
44
Loss/(profit) on disposal of fixed assets
-
-
Subscriptions
-
-
Printing, postage and stationary
-
-
Telephone
-
-
Rent, service charge and rates
-
-
Insurance - charity
-
-
Independent examination fees
-
-
Legal and professional fees
-
-
Removal and storage costs
-
-
194,071
10,209
Grant funding of activities (see note 6)
-
288,160
194,071
298,369		 Support
costs
2022
£
-
2,127
-
-
-
-
22,779
2,938
2
2,848
9,620
1,142
5,196
2,580
4,202
53,434
-
53,434		 Total
2022
Staff costs Direct costs
2021
2021
£
£
£
187,181
178,769
-
2,127
-
-
6,890
6,647
-
603
-
529
9,562
-
336
44
-
132
22,779
-
-
2,938
-
-
2
-
-
2,848
-
-
9,620
-
-
1,142
-
-
5,196
-
-
2,580
-
-
4,202
-
-
257,714
185,416
997
288,160
-
357,723
545,874
185,416
358,720		 Support
costs
2021
£
-
8,162
-
-
-
-
-
2,512
11
2,267
36,000
1,230
4,794
1,800
-
56,776
-
56,776		 Total
2021
£
178,769
8,162
6,647
529
336
132
-
2,512
11
2,267
36,000
1,230
4,794
1,800
-
243,189
357,723
600,912

Governance costs

Included in Direct costs are costs relating to Trustees' meetings amounting to £Nil (2021: £Nil). Included in Support costs are the costs relating to the Independent Examination amounting to £5,196 (2021: £4,794).

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

6 Grants payable

**Direct costs ** Direct costs
2022 2021
£ £
Grants to institutions (25 grants):
Abu Subhan Welfare Trust 112,485 131,281
Goodricke Group Charitable Trust - 12,000
Foundation for Developing Compassion and Wisdom 18,000 18,000
Prospect Burma 20,000 20,000
Compassion Matters - 20,000
The IMPACT Foundation 30,000 40,000
The Jamyang Centre 10,000 10,000
Mulanje Mission Hospital 14,837 -
Nomadic Survival 15,000 16,000
The Centre for Theology and Community 10,000 10,000
Anonymous - 18,659
Other 57,838 61,783
288,160 357,723

Included in Anonymous in 2021 were two institutional grants totalling £18,659. The Charity has withheld the disclosure on the basis that disclosure would provide grounds for serious prejudice. All grants were made in furtherance of the Charity’s objects.

Commitments

During the year a total of £288,160 (2021: £357,723) grants were approved by the Board and £288,160 (2021: £376,172) was paid to the beneficiaries. At 30 June 2022 there were no unpaid commitments (2021: £33,393). These are included in other creditors (note 12).

7 Net movement in funds 2022 2021
£ £
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets 2,127 8,162

Other than that disclosed in note 9, none of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year to 30 June 2022 two Trustees who served were reimbursed travel expenses and subscriptions totalling £11,572 (2021: £2,163). These expenses were incurred in direct furtherance of the Charity’s objectives.

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

9 Employees

The average monthly number of employees during the year was:

Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
Benefit in kind		 2022
Number
1
2022
£
154,822
16,877
15,482
6,890
194,071		 2021
Number
1
2021
£
148,342
15,593
14,834
6,647
185,416

S C Turner (Trustee) is the key management employee of the charity and the only employee. He is in charge of directing and controlling, running and operating the charity on a day to day basis. This is in accordance with the charity's governing document.

The number of employees whose annual remuneration was £60,000 or more were:

2022 2021
Number Number
£150,000 - £160,000 - 1
£160,000 - £170,000 1 -

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

10 Tangible fixed assets

Tangible fixed assets
Office Equipment
£
Cost
At 1 July 2021 54,411
Disposals (40,234)
At 30 June 2022 14,177
Depreciation and impairment
At 1 July 2021 22,994
Depreciation charged in the year 2,127
Eliminated in respect of disposals (17,455)
At 30 June 2022 7,666
Carrying amount
At 30 June 2022 6,511
At 30 June 2021 31,417

The tangible fixed assets are all held and used in the direct furtherance on the Charity's objectives.

11
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2022
£
5,000
2,820
7,820		 2021
£
5,000
6,142
11,142

Included in other debtors is the value of a grant made to an individual in the form of a repayable loan amounting to £5,000 (2021: £5,000). This loan is interest free and is repayable once the individual has begun earning on completion of her studies, which will be in more than one year.

12 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
12,234
8,935
5,196
26,365		 2021
£
6,034
41,882
4,800
52,716

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022

13 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £15,482 (2021 - £14,834).

14 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

No amounts were outstanding at the year end.

The Camellia Foundation (Bermuda) is a trust established in Bermuda. It has one trustee (the Camellia Private Trust Company Limited - a private trust company incorporated in Bermuda). The Camellia Foundation (Bermuda) is the indirect majority shareholder of Camellia Plc.

Simon Turner (Trustee) is a Director of the Camellia Private Trust Company Limited.

Simon Turner and Stephen Buckland (Trustees) are Directors of Camellia Plc.

THE CAMELLIA FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2022

15 Cash generated from operations 2022 2021
£ £
Surplus for the year 33,574 20,088
Adjustments for:
Investment income recognised in statement of financial activities (17) -
Loss on disposal of tangible fixed assets 22,779 -
Depreciation and impairment of tangible fixed assets 2,127 8,162
Movements in working capital:
Decrease/(increase) in debtors 3,322 (3,654)
(Decrease) in creditors (26,351) (18,888)
Cash generated from operations 35,434 5,708