REGISTERED COMPANY NUMBER: 08082272 (England and Wales) REGISTERED CHARITY NUMBER: 1149992
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2020
for
The High Tide Foundation
Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
The High Tide Foundation
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 15 |
| Detailed Statement of Financial Activities | 16 to 17 |
Report of the Trustees for the Year Ended 31 December 2020
The High Tide Foundation
The Trustees submit their report together with financial statements for the year ended 31 December 2020.
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
The accounts have been in accordance with the accounting policies set out in note 1 to the accounts and comply with the Foundation'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 2015)"
OBJECTIVES AND ACTIVITIES
Objectives, Activities and Achievements
High Tide is an independent charitable Foundation, funded by businesses on Tees Valley, which delivers life changing career experiences. We open young people’s eyes and minds to Tees Valley’s diverse career opportunities providing real life work experience which increases understanding, improves skills, raises confidence, and builds aspirations.
The Foundation’s aim is to improve learning and employment opportunities whilst raising aspirations for young people across the region through unique work experience and industry-led skills programmes.
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the Foundation should undertake.
The Foundation delivers physical industry led programmes, from cadetships through to our flagship work experience programme that support young people into work and deliver measurable improvements to skills and confidence.
Through the 2020 pandemic High Tide has been unable to provide the usual industry programmes and has instead created a valuable digital offer. The team has reviewed the programme models for the programmes and converted the content into a virtual offer.
High Tide has formed a partnership with national charity Speakers for Schools, in which we will host the new virtual programme offer via their online site. Throughout 2021 the foundation will offer a year of valuable virtual programmes, ranging from a 1-day insight to 3–5-day placements.
In immediate reaction to the pandemic High Tide created an online learning hub which is home to career resources such as sector factsheets, educational tasks and activities, business news and employee interviews. The foundation will continue to provide this service where students can access these resources in their own time and from a home or school setting.
FINANCIAL REVIEW
It is the policy of the Foundation that unrestricted funds which have not been designed for a specific use should be maintained at a level equivalent to between three- and six-months expenditure of £36,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Foundation’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.
At the year end the restricted reserves were nil and unrestricted reserves were £117,287.
Due to cancelled events this year it was agreed that Corporate Partnership agreements be carried over to 2021.
The Trustees have assessed the major risks to which the foundation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 1
The High Tide Foundation
Report of the Trustees
for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 May 2012.
The Foundation is governed by a Board of Trustees, who are also directors of the company. Under the requirements of the Memorandum of Association the power of appointing Trustees shall be reserved to PD Ports PLC and Casper Shipping Limited. In 2017 it was agreed to increase the number of trustees from 5 board members to 8 board members.
At the end of 2020, due to additional work commitments, the finance trustee resigned. The board now has 6 members and will plan to recruit two new trustees in 2021, one of those appointments having a finance background.
The rules around the pandemic meant that the High Tide staff must work from home, it was agreed that the lease on the office would not be reviewed and we would move to home working instead.
Trustees serve a term of office for 3 years and maybe re-appointed at the end of the term provided that Casper Shipping Limited and PD Ports PLC consent by mutual agreement to their re-appointment.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08082272 (England and Wales)
Registered Charity number
1149992
Registered office
Plenary BV House Queens Sqaure Middlesbrough TS2 1PA
Trustees
J M Hopkinson P J Wilson (resigned 08.09.20) P R Gibson (resigned February 2021) M Shakesheff Ms J Bailey D MacDonald M E Easby (Chair) Mrs K Donkin
Independent Examiner
Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 27 September 2021 and signed on its behalf by:
........................................................................ M E Easby - Trustee
Page 2
Independent Examiner's Report to the Trustees of The High Tide Foundation
Independent examiner's report to the trustees of The High Tide Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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:
-
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
-
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
-
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.
James Dale Anderson Barrowcliff LLP Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
Date: 27 September 2021
Page 3
The High Tide Foundation
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 73,618 Other trading activities 3 22,308 Investment income 4 147 Total 96,073 EXPENDITURE ON Raising funds 5 216 Charitable activities 6 Charitable activities 58,021 Total 58,237 NET INCOME/(EXPENDITURE) 37,836 RECONCILIATION OF FUNDS Total funds brought forward 79,451 TOTAL FUNDS CARRIED FORWARD **117,287 ** |
Restricted funds £ - - - - - 272 272 (272) 272 - |
2020 Total funds £ 73,618 22,308 147 96,073 216 58,021 58,509 37,564 79,723 **117,287 ** |
2019 Total funds £ 88,187 65,169 142 |
|---|---|---|---|
| 153,498 13,992 83,350 |
|||
| 97,342 | |||
| 56,156 | |||
| 23,567 | |||
| 79,723 |
The notes form part of these financial statements
Page 4
The High Tide Foundation
| Balance Sheet 31 December 2020 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 13 105 CURRENT ASSETS Debtors 14 23,289 Cash at bank and in hand 97,284 120,573 CREDITORS Amounts falling due within one year 15 (3,391) NET CURRENT ASSETS 117,182 TOTAL ASSETS LESS CURRENT LIABILITIES 117,287 NET ASSETS 117,287 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - - - - - - |
2020 Total funds £ 105 23,289 97,284 120,573 (3,391) 117,182 117,287 117,287 117,287 - **117,287 ** |
2019 Total funds £ 251 28,601 53,801 82,402 (2,930) 79,472 79,723 79,723 79,451 272 79,723 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
continued...
The High Tide Foundation
Balance Sheet - continued 31 December 2020
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2021 and were signed on its behalf by:
.............................................
M E Easby - Trustee
The notes form part of these financial statements
Page 6
The High Tide Foundation
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The charity is a private company, limited by guarantee and is a registered charity in England. The address of the registered office is given in the company information on page 2. The nature of the charitable company's operations and principal activities are shown in the Report of the Trustees.
The charitable company constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitable companies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the accounts. The accounts are prepared in sterling rounded to the nearest £.
The charity currently has sufficient reserves to continue in operation. The Trustees therefore believe that it is appropriate to prepare the financial statements on a going concern basis.
COMPANY STATUS
The charity is a company limited by guarantee. The members of the company are the trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
INCOME
Items of income are recognised and included in the accounts when all the following criteria are met: - The charity has entitlement to the funds;
Any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity.
There is sufficient certainty that receipt of the income is considered probable; and The amount can be measured reliably.
The company received government grants in respect of the Small Business Grant Fund. These grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the company will comply with the conditions attached to them. The grants were received using the accrual model.
Cash donations are recognised on receipt. Other donations are recognised once the Foundation 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 or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Foundation has been notified of an impending distribution, the amount is known, and receipt id expected. If the amount is not known, the legacy is treated as a contingent asset.
EXPENDITURE
All expenditure is accounted for on an accruals basis and is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount can be measured reliably. Irrecoverable VAT is included in expenditure against the relevant cost for which the expenditure was incurred. Expenditure is classified under the following headings: -
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities. It includes both costs which can be directly allocated to activities and those costs of an indirect nature. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs. Governance costs are those incurred in connection with compliance with constitutional and statutory requirements
continued...
Page 7
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
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 so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Fixtures and fittings 5 years straight line Computer equipment 4 years straight line
TAXATION
The charity is exempt from corporation tax on its charitable activities.
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 charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of the designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering the 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.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
DEBTORS
Trade and other debtors with no stated interest rate and receivable within one year are recognised at the transaction price.
CASH AT BANK
Cash at bank and cash 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.
CREDITORS
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.
FINANCIAL INSTRUMENTS
The charity 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.
continued...
Page 8
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
| 2. DONATIONS AND LEGACIES 2020 £ Donations 15,701 Brookfield 47,917 Small business grant fund 10,000 73,618 3. OTHER TRADING ACTIVITIES 2020 £ Other fundraising 22,308 Charity Ball - 22,308 4. INVESTMENT INCOME 2020 £ Deposit account interest 147 5. RAISING FUNDS RAISING DONATIONS AND LEGACIES 2020 £ Advertising and fundraising 216 Charity ball costs - 216 6. CHARITABLE ACTIVITIES COSTS Direct Support Costs (see costs (see note 7) note 8) £ £ Charitable activities 36,843 21,450 7. DIRECT COSTS OF CHARITABLE ACTIVITIES 2020 £ Staff costs 36,322 Programme costs 521 36,843 |
2019 £ 44,587 43,600 - 88,187 2019 £ 53,669 11,500 65,169 2019 £ 142 2019 £ 608 13,384 13,992 Totals £ 58,293 2019 £ 45,832 13,746 59,578 |
|---|---|
continued...
Page 9
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
8. SUPPORT COSTS
| Management £ Charitable activities 19,974 |
Governance Finance costs £ £ 36 1,440 |
Totals £ 21,450 |
|---|---|---|
Support costs, included in the above, are as follows:
MANAGEMENT
| MANAGEMENT | |||
|---|---|---|---|
| 2020 | 2019 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Rent | 5,537 | 5,213 | |
| Insurance | 848 | 876 | |
| Telephone | 1,790 | 1,596 | |
| Postage and stationery | - | 487 | |
| Advertising | 9,300 | 8,413 | |
| Sundries | 313 | 744 | |
| Subscriptions | 1,176 | 2,412 | |
| Bookkeeping and payroll | 864 | 684 | |
| Travel expenses | - | 1,453 | |
| Depreciation on fixtures and fittings | 146 | 333 | |
| 19,974 | 22,211 | ||
| FINANCE | |||
| 2020 | 2019 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Bank charges | 36 | 121 | |
| GOVERNANCE COSTS | |||
| 2020 | 2019 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Accountancy | 1,440 | 1,440 | |
| 9. | FEES PAYABLE TO INDEPENDENT EXAMINER | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Independent examination | 1,440 | 1,440 | |
| Other fees | **864 ** | **684 ** | |
| **2,304 ** | 2,124 |
continued...
Page 10
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 146 | 334 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Management and administration No employees received emoluments in excess of £60,000. |
2020 £ 34,754 800 768 36,322 2020 2 |
2019 £ 43,837 1,076 919 |
|---|---|---|
| 45,832 | ||
| 2019 2 |
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 78,187 Other trading activities 62,669 Investment income 142 Total 140,998 EXPENDITURE ON Raising funds 13,992 Charitable activities Charitable activities 70,959 Total 84,951 |
Restricted funds £ 10,000 2,500 - 12,500 - 12,391 12,391 |
Total funds £ 88,187 65,169 142 |
|---|---|---|
| 153,498 13,992 83,350 |
||
| 97,342 |
continued...
Page 11
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted Restricted funds funds £ £ NET INCOME 56,047 109 RECONCILIATION OF FUNDS Total funds brought forward 23,404 163 TOTAL FUNDS CARRIED FORWARD 79,451 272 13. TANGIBLE FIXED ASSETS Fixtures and Computer fittings equipment £ £ COST At 1 January 2020 and 31 December 2020 281 1,814 DEPRECIATION At 1 January 2020 197 1,647 Charge for year 56 90 At 31 December 2020 253 1,737 NET BOOK VALUE At 31 December 2020 28 77 At 31 December 2019 84 167 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 £ Trade debtors - Prepayments and accrued income 23,289 23,289 |
Total funds £ |
|---|---|
| 56,156 23,567 |
|
| 79,723 | |
| Totals £ 2,095 1,844 146 1,990 105 251 2019 £ 1,330 27,271 28,601 |
continued...
Page 12
The High Tide Foundation
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2020 | 2019 | |||
|---|---|---|---|---|
| £ | £ | |||
| Social security and other taxes | 1,228 | 767 | ||
| Other creditors | 171 | 171 | ||
| Accruals and deferred income | **1,992 ** | 1,992 | ||
| **3,391 ** | 2,930 | |||
| 16. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.20 | in funds | 31.12.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 79,451 | 32,668 | 112,119 | |
| Designated fund | - | 5,168 | 5,168 | |
| 79,451 | 37,836 | 117,287 | ||
| Restricted funds | ||||
| Experience Works | 272 | (272) | - | |
| TOTAL FUNDS | 79,723 | **37,564 ** | **117,287 ** | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 90,905 | (58,237) | 32,668 | |
| Designated fund | 5,168 | - | 5,168 | |
| 96,073 | (58,237) | 37,836 | ||
| Restricted funds | ||||
| Experience Works | - | (272) | (272) | |
| TOTAL FUNDS | 96,073 | **(58,509) ** | **37,564 ** |
continued...
Page 13
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.19 | in funds | 31.12.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 23,404 | 56,047 | 79,451 |
| Restricted funds | |||
| The Cadetship Programmes | 163 | (163) | - |
| Experience Works | - | 272 | 272 |
| 163 | 109 | 272 | |
| TOTAL FUNDS | 23,567 | 56,156 | 79,723 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 140,998 | (84,951) | 56,047 |
| Restricted funds | |||
| The Cadetship Programmes | - | (163) | (163) |
| Experience Works | 2,500 | (2,228) | 272 |
| The 1989 Willan Charitable Trust | 10,000 | (10,000) | - |
| 12,500 | (12,391) | 109 | |
| TOTAL FUNDS | 153,498 | (97,342) | 56,156 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.1.19 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 23,404 | 88,715 | 112,119 |
| Designated fund | - | 5,168 | 5,168 |
| 23,404 | 93,883 | 117,287 | |
| Restricted funds | |||
| The Cadetship Programmes | 163 | (163) | - |
| TOTAL FUNDS | 23,567 | 93,720 | 117,287 |
continued...
Page 14
The High Tide Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| as follows: | |||
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 231,903 | (143,188) | 88,715 |
| Designated fund | 5,168 | - | 5,168 |
| 237,071 | (143,188) | 93,883 | |
| Restricted funds | |||
| The Cadetship Programmes | - | (163) | (163) |
| Experience Works | 2,500 | (2,500) | - |
| The 1989 Willan Charitable Trust | 10,000 | (10,000) | - |
| 12,500 | (12,663) | (163) | |
| TOTAL FUNDS | 249,571 | (155,851) | 93,720 |
The 1989 Willan Trust
This money is received towards the cost of employing an additional member of staff to increase engagement work with industry and schools.
Focused Business Work Experience Programme
Students between the ages of 16-19 are given the opportunity to attend afternoon work experience sessions that allows them to gain an insight into up to 8 different business' in the area they are interested in.
The Cadetship Programmes
These programmes are geared towards 13-16 year old's to give them the opportunity to follow the journey of a product from beginning to end. This enables students to understand all the varying business processes and jobs that are required before a product gets to its end user and opens their mind to new career opportunities.
Designated Fund – Geoff Lowe Hardship Fund
This money was received as a legacy and agreed by the trustees to be used to ensure there are no financial barriers for students taking part in the High Tide Foundation experiences.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 15
The High Tide Foundation
Detailed Statement of Financial Activities
for the Year Ended 31 December 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations Brookfield Small business grant fund Other trading activities Other fundraising Charity Ball Investment income Deposit account interest Total incoming resources EXPENDITURE Raising donations and legacies Advertising and fundraising Charity ball costs Charitable activities Wages Social security Pensions Programme costs Support costs Management Rent Insurance Telephone Postage and stationery Advertising Sundries Subscriptions Carried forward |
2020 £ 15,701 47,917 10,000 73,618 22,308 - 22,308 147 96,073 216 - 216 34,754 800 768 521 36,843 5,537 848 1,790 - 9,300 313 1,176 18,964 |
2019 £ 44,587 43,600 - 88,187 53,669 11,500 65,169 142 153,498 608 13,384 13,992 43,837 1,076 919 13,746 59,578 5,213 876 1,596 487 8,413 744 2,412 19,741 |
2019 £ 44,587 43,600 - 88,187 53,669 11,500 65,169 142 153,498 608 13,384 13,992 43,837 1,076 919 13,746 59,578 5,213 876 1,596 487 8,413 744 2,412 19,741 |
|---|---|---|---|
| 19,741 |
This page does not form part of the statutory financial statements
Page 16
The High Tide Foundation
Detailed Statement of Financial Activities
for the Year Ended 31 December 2020
| Management Brought forward Bookkeeping and payroll Travel expenses Fixtures and fittings Computer equipment Finance Bank charges Governance costs Accountancy Total resources expended Net income |
2020 £ 18,964 864 - 56 90 19,974 36 1,440 58,509 **37,564 ** |
2019 £ 19,741 684 1,453 56 277 22,211 121 1,440 97,342 56,156 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17