**Registered number: 07802097 Charity number: 1145808**
## **THE PHILANTHROPY FOUNDATION LIMITED**
**(A Company Limited by Guarantee)**
## **Unaudited**
**Trustees' Report and Financial Statements**
**For the Year Ended 31 October 2021**
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Contents**
||Page|
|---|---|
|**Reference and Administrative Details of the Company, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 - 19|
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
**Reference and Administrative Details of the Company, its Trustees and Advisers For the Year Ended 31 October 2021**
|**Trustees**|Charles Pike, Chair|
|---|---|
||Ben Wilson|
||Joseph Mclean|
|**Company registered**
**number**
07802097
**Charity registered**
**number**
1145808
**Registered office**
31 Hill Street
London
W1J5LS
**Accountants**
Williams Giles Professional Services Ltd
Sittingbourne
Kent
ME10 5BH
**Bankers**
Adam & Company
6 Adelaide Street
London
WC2N 4HZ
**Solicitors**
Fosters LLP
31 Hill Street
London
W1J 5LS||
Page 1
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Trustees' Report For the Year Ended 31 October 2021**
The Trustees present their annual report together with the financial statements of the The Philanthropy Foundation Limited for the year 1 November 2020 to 31 October 2021. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The period to 31 October 2021 represented the ninth year of the Charity’s existence during which it continued to establish its administrative arrangements and to plan activities for the future and also continued to receive donations from philanthropic donors. The Trustees are of the opinion that the Charity is in a good position to attract further philanthropic donors and to continue to engage in charitable projects in the coming years.
## **Objectives and activities**
The Philanthropy Foundation is a registered charity with broad charitable objectives. It focuses on developing and supporting charitable projects, in the UK and internationally, in areas which include:
- Advancing the arts, culture, heritage or science, amateur sport and education,
- The relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
The Foundation’s remit is to promote philanthropy from individuals who might otherwise be considering establishing their own trusts and foundations. The Foundation provides opportunities for donors to establish discrete funds in their name within the Foundation’s resources in order to meet donors’ philanthropic aims. The Foundation will provide advice and support to assist donors to identify suitable activities and to develop partnerships with other organisations, where suitable, to meet the charitable objectives of donors and of the Foundation.
The Foundation will also make itself available to existing trusts and foundations which, for various reasons, no longer have the capacity or organisation to continue independently.
The Trustees, having regard to the public benefit guidance published by the Charities Commission, in accordance with Section 17 of the Charities Act 2011, consider that the purpose of activities of the charity satisfy the requirements of the public benefit as set out in Section 4 of the same Act.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **a. Main achievements of the Company**
The success of the Charity is measured in terms of the grants made and grants for the period totalled £175,787 (2020 - £69,591). The number of recipients of grants decreased in the period to 5 (2020 - 9).
Page 2
## **THE PHILANTHROPY FOUNDATION LIMITED**
**(A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 October 2021**
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
Income for the period totalled £167,687 (2020 - £19,019), of which £161,409 is restricted income and comprises voluntary donations. Expenditure amounted to £183,021 (2020 - £70,791), comprising grants made, accountancy fees and other expenditure. There was a net deficit for the year of £15,334 (2020 - £51,712). Reserves at the end of the period totalled £31,431 (2020 - £46,765).
Donations are recognised in the Restricted Fund and the Trustees distribute this income by making grants.
It is the Trustees' policy to retain a protection of any Gift Aid reclaims in the Unrestricted Fund in order to meet the ongoing running costs of the charity. The Trustees acknowledge that this needs to be monitored to ensure that the Unrestricted Fund is able to fund its ongoing costs and also any exceptional circumstances.
## **c. Financial risk management objectives and policies**
The Board of Trustees pays due care and attention to risk management and it is a standing agenda item at all Board Meetings. A risk register, covering all areas of fundraising and operations, has been developed.
## **Structure, governance and management**
## **a. Constitution**
The Philanthropy Foundation Limited is registered as a charitable company limited by guarantee and was set up by a Trust deed.
## **b. Methods of appointment or election of Trustees**
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. Policies adopted for the induction and training of Trustees**
All new Trustees attend an induction Trustee Board Meeting where their roles are fully explained. They receive regular information about trustee training and, in the view of the Trustees, have enough knowledge of their specific field to understand the nature of the Charity and fully comply with the Charity’s current views of its progression. Trustees may claim for reasonable expenses incurred in undertaking the Charity’s business, but they receive no remuneration or other financial benefit. None of the Trustees who served during the period had any beneficial interest in any contract with the Charity.
Page 3
**THE PHILANTHROPY FOUNDATION LIMITED (A Company Limited by Guarantee)**
## **Trustees' Report (continued) For the Year Ended 31 October 2021**
## **Plans for future periods**
The Trustees aim to enhance the public profile of the Charity to attract philanthropic donors and to engage in chartiable activities that meet both the donors' wishes and the Charity's objectives.
It is the Trustees aim to seek additional funding from both new and existing supporters of the Charity to help build a surplus in the unrestricted fund that can be applied in the coming years to further the charitable objects of the Philanthropy Foundation.
The Charity's unrestricted fund is in defecit this year and has not reached our expectations. A strategic plan for future years is being developed by the Trustees.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
## **Charles Pike**
Trustee Date:
Page 4
**THE PHILANTHROPY FOUNDATION LIMITED (A Company Limited by Guarantee)**
## **Independent Examiner's Report For the Year Ended 31 October 2021**
## **Independent Examiner's Report to the Trustees of The Philanthropy Foundation Limited ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 October 2021.
## **Responsibilities and Basis of Report**
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
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:
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)].
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 accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed:
Dated:
Samuel Ketcher FCCA
Williams Giles Professional Services Ltd 12 Conqueror Court Sittingbourne Kent ME10 5BH
Page 5
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 October 2021**
|**Note**
**Income from:**
Donations and legacies
3
Other income
4
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
Transfers between funds
13
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**-**
**6,278**
**6,278**
**(1,609)**
**(1,609)**
**7,887**
**9,229**
**17,116**
**(19,859)**
**17,116**
**(2,743)**|**Restricted**
**funds**
**2021**
**£**
**161,409**
**-**
**161,409**
**184,630**
**184,630**
**(23,221)**
**(9,229)**
**(32,450)**
**66,624**
**(32,450)**
**34,174**|**Total**
**funds**
**2021**
**£**
**161,409**
**6,278**
**167,687**
**183,021**
**183,021**
**(15,334)**
**-**
**(15,334)**
**46,765**
**(15,334)**
**31,431**|_Total_
_funds_
_2020_
_£_
_18,829_
_250_
_19,079_
_70,791_
_70,791_
_(51,712)_
_-_
_(51,712)_
_98,477_
_(51,712)_
_46,765_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 19 form part of these financial statements.
Page 6
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee) Registered number: 07802097**
## **Balance Sheet As at 31 October 2021**
|**Note**
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**-**
**35,381**
**35,381**
**(3,950)**|**2021**
**£**
**31,431**
**31,431**
**34,174**
**(2,743)**
**31,431**|_4,999_
_52,822_
_57,821_
_(11,056)_|_2020_
_£_
_46,765_
_46,765_
_66,624_
_(19,859)_
_46,765_|
|---|---|---|---|---|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Charles Pike**
Trustee Date:
The notes on pages 8 to 19 form part of these financial statements.
Page 7
**THE PHILANTHROPY FOUNDATION LIMITED (A Company Limited by Guarantee)**
**Notes to the Financial Statements For the Year Ended 31 October 2021**
## **1. General information**
The Philanthropy Foundation Limited is a registred charity, number 1145808 and registered company, number 07802097. The principal office is 31 Hill Street, London, W1J 5LS and the principal activity of the charity is developing and supporting charitable projects.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Philanthropy Foundation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Donations are recognised when the Trustees have received confirmation of the amount and timing of gifts and have reasonable assurance of receipt.
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Page 8
**THE PHILANTHROPY FOUNDATION LIMITED (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **2. Accounting policies (continued)**
## **2.3 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Taxation**
The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2.5 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.8 Financial instruments**
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 9
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **2. Accounting policies (continued)**
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2021**
**£**
Donations
-
Grants
-
Similar incoming resources
-
**Total 2021**
-
_Total 2020_
_2,500_|**Restricted**
**funds**
**2021**
**£**
140,345
2,000
19,064
161,409
_16,329_|**Total**
**funds**
**2021**
**£**
**140,345**
**2,000**
**19,064**
**161,409**
_18,829_|_Total_
_funds_
_2020_
_£_
_16,329_
_-_
_2,500_|
|---|---|---|---|
||||_18,829_|
|||||
## **4. Other incoming resources**
|Other incoming resources
_Total 2020_|**Unrestricted**
**funds**
**2021**
**£**
6,278
_250_|**Total**
**funds**
**2021**
**£**
**6,278**
_250_|_Total_
_funds_
_2020_
_£_
_250_|
|---|---|---|---|
|||||
Page 10
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **5. Analysis of grants**
|Grants, Developing and supporting charitable projects
_Total 2020_|**Grants to**
**Institutions**
**2021**
**£**
175,787
_69,591_|**Total**
**funds**
**2021**
**£**
**175,787**
_69,591_|_Total_
_funds_
_2020_
_£_
_69,591_|
|---|---|---|---|
|||||
Page 11
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **5. Analysis of grants (continued)**
The Company has made the following material grants to institutions during the year:
|**Name of institution**
A Star Foundation
Aim to Gain
Alex Wardle Foundation
Opera Ventures
Berahino Funds
Breast Cancer
Rugby Against Cancer
Sinfonia of London|**2021**
**£**
**-**
**-**
**-**
**2,484**
**10,000**
**6,000**
**6,225**
**151,078**
**175,787**|_2020_
_£_
_10,932_
_1,000_
_3,815_
_53,844_
_-_
_-_
_-_
_-_|
|---|---|---|
||||
|||_69,591_|
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2021**
**£**
Grant making to institutions
-
Support costs
(1,609)
**Total 2021**
(1,609)
_Total 2020_
_1,200_|**Restricted**
**funds**
**2021**
**£**
175,787
8,843
184,630
_69,591_|**Total**
**funds**
**2021**
**£**
**175,787**
**7,234**
**183,021**
_70,791_|_Total_
_funds_
_2020_
_£_
_69,591_
_1,200_|
|---|---|---|---|
||||_70,791_|
|||||
Page 12
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **7. Analysis of expenditure by activities**
|Grant making to insitutions
Support costs
**Total 2021**
_Total 2020_
**Analysis of support costs**|**Grant**
**funding of**
**activities**
**2021**
**£**
175,787
-
175,787
_69,591_|**Support**
**costs**
**2021**
**£**
-
7,234
7,234
_1,200_|**Total**
**funds**
**2021**
**£**
**175,787**
**7,234**
**183,021**
_70,791_|_Total_
_funds_
_2020_
_£_
_69,591_
_1,200_|
|---|---|---|---|---|
|||||_70,791_|
||||||
|**Developing**
**and**
**supporting**
**charitable**
**projects**
**2021**
**£**
Advertising and website development
200
Travel and subsistence costs
528
Other costs
(1,072)
Accountancy fees
1,800
Transaction fees
5,778
7,234
_Total 2020_
_1,200_
**8.**
**Independent examiner's remuneration**
Fees payable to the Company's independent examiner for the independent
examination of the Company's annual accounts
Fees payable to the Company's independent examiner in respect of:
All other services not included above|**Total**
**funds**
**2021**
**£**
**200**
**528**
**(1,072)**
**1,800**
**5,778**
**7,234**
_1,200_
**2021**
**£**
**600**
**1,200**|_Total_
_funds_
_2020_
_£_
_-_
_-_
_-_
_1,200_
_-_|
|---|---|---|
|||_1,200_|
|||_2020_
_£_
_-_
_1,200_|
Page 13
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year ended 31 October 2021, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **10. Debtors**
|**Due within one year**
Other debtors|**2021**
**£**
**-**
**-**|_2020_
_£_
_4,999_|
|---|---|---|
||||
|||_4,999_|
Page 14
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **11. Creditors: Amounts falling due within one year**
|Trade creditors
Accruals and deferred income|**2021**
**£**
**2,150**
**1,800**
**3,950**|_2020_
_£_
_7,856_
_3,200_|
|---|---|---|
||||
|||_11,056_|
## **12. Financial instruments**
|**Financial assets**
Financial assets measured at fair value through income and expenditure
Financial assets measured at amortised cost
**Financial liabilities**
Financial liabilities measured at amortised cost|**2021**
**£**
**35,381**
**-**
**35,381**
**2021**
**£**
**3,950**|_2020_
_£_
_52,822_
_4,999_|
|---|---|---|
||||
|||_57,821_|
|||_As restated_
_2020_
_£_
_11,056_|
Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.
Financial assets measured at amortised cost comprise other debtors.
Financial liabilities measured at amortised cost comprise trade creditors and accruals.
Page 15
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **13. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Fund
New Venture Opera Fund
Torbay Culture Development
Fund
The Health Anxiety Fund
The Saido Berahino Fund
Sporting Partnerships
Foundation Fund
The Alex Wardle Foundation
Fund
The Bergen Philharmonic
Orchestra Fund
The Rugby Against Cancer
Fund
Sinfonia of London Fund
**Total of funds**|**Balance at 1**
**November**
**2020**
**£**
**(19,859)**
**9,229**
**2,500**
**105**
**-**
**14,775**
**5,657**
**4,970**
**16,888**
**12,500**
**-**
**66,624**
**46,765**|**Income**
**£**
**6,278**
**51**
**9**
**10**
**1,267**
**-**
**-**
**4,322**
**-**
**-**
**155,750**
**161,409**
**167,687**|**Expenditure**
**£**
**1,609**
**(51)**
**(2,509)**
**-**
**(144)**
**(10,295)**
**(113)**
**(2,930)**
**(338)**
**(12,500)**
**(155,750)**
**(184,630)**
**(183,021)**|**Transfers**
**in/out**
**£**
**9,229**
**(9,229)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(9,229)**
**-**|**Balance at**
**31 October**
**2021**
**£**
**(2,743)**
**-**
**-**
**115**
**1,123**
**4,480**
**5,544**
**6,362**
**16,550**
**-**
**-**
**34,174**
**31,431**|
|---|---|---|---|---|---|
Page 16
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **13. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Restricted Fund
New Venture Opera Fund
**Total of funds**|_Balance at_
_1 November_
_2019_
_£_
_(21,409)_
_55,781_
_64,105_
_119,886_
_98,477_|_Income_
_£_
_2,750_
_16,329_
_-_
_16,329_
_19,079_|_Expenditure_
_£_
_(1,200)_
_(15,747)_
_(53,844)_
_(69,591)_
_(70,791)_|_Balance at_
_31 October_
_2020_
_£_
_(19,859)_
_56,363_
_10,261_
_66,624_
_46,765_|
|---|---|---|---|---|
A separate restricted fund is established for each individual donor, the resources of each fund being applied to meet the donors’ philanthropic aims. The movements on the restricted funds are disclosed in aggregate in the above table.
Page 17
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **14. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds|**Balance at 1**
**November**
**2020**
**£**
**(19,859)**
**66,624**
**46,765**|**Income**
**£**
**6,278**
**161,409**
**167,687**
_Balance at_
_1 November_
_2019_
_£_
_(21,409)_
_119,886_
_98,477_|**Expenditure**
**£**
**1,609**
**(184,630)**
**(183,021)**
_Income_
_£_
_2,750_
_16,329_
_19,079_|**Transfers**
**in/out**
**£**
**9,229**
**(9,229)**
**-**
_Expenditure_
_£_
_(1,200)_
_(69,591)_
_(70,791)_|**Balance at**
**31 October**
**2021**
**£**
**(2,743)**
**34,174**
**31,431**
_Balance at_
_31 October_
_2020_
_£_
_(19,859)_
_66,624_
_46,765_|
|---|---|---|---|---|---|
|**Summary of funds - prior year**||||||
|General funds
Restricted funds||||||
Page 18
## **THE PHILANTHROPY FOUNDATION LIMITED**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 October 2021**
## **15. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Current assets
1,207
Creditors due within one year
(3,950)
**Total**
(2,743)|**Restricted**
**funds**
**2021**
**£**
34,174
-
34,174|**Total**
**funds**
**2021**
**£**
**35,381**
**(3,950)**
**31,431**|
|---|---|---|
## **Analysis of net assets between funds - prior year**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2020_
_£_
_(8,803)_
_(11,056)_
_(19,859)_|_Restricted_
_funds_
_2020_
_£_
_66,624_
_-_
_66,624_|_Total_
_funds_
_2020_
_£_
_57,821_
_(11,056)_
_46,765_|
|---|---|---|---|
## **16. Related party transactions**
The Philanthropy Foundation Limited has not entered into any related party transaction during the year or the prior year, nor are there any outstanding balances owing between related parties and the The Philanthropy Foundation Limited at 31 October 2021 (2020 - £nil).
Page 19