Imace foundation MACE FOUNDATION Report and Financial Statements For the year ended 31 December 2020 Charlty number". 1150134 Company number: 08144743 Not Confidentlal- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Financial statements fortho yoar ended 31 December 2020 Contents Pages Legal and administrattve information Report of the Trustees Independent Examination report Statement of Financial Activities (including inrne and expenditure account) 10 Balance sheet Cash flow slalemenl 12 Notes to the financial statements 13-19 Income and expenditure account 20 Not Confidential- Internal
Aimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Legal and admlnlstrative informatlon Referen¢e and admlnistrative detalls Trustees Mr M Reynolds (Chairman) Mr R Abbale Mr D Ailcheson (resigned 2 March 2020) Dr J Grant Ms H Livesey (Treasurer) Ms l McAllisler Mr J Millell Mrs D Reynolds Ms B Welch Secretary Ms C Pale Executlve management Mr D Hone Ichief Executive Officer) Mrs J Drummond (Head of Fundraising and Partnerships) Mrs A Mann (Finance Manager) Reglstered office and operatlon addre88 155 Moorgale London United Kingdom EC2M 6XB Regi$tèrèd Company number 08144743 Registered Charity number 1150134 Independent Examlner P D Newton FCA Jacob Cavenagh & Skeet Chartered Accounlanls 5 Robin Hood Lane Sullon Surrey SM12SW Bankers Barclays Bank PIC London Corporate Banking Level 28, 1 Churchill Place Canary Vvharf. London E14 5HP Not Confldentlal- Intembl
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Report of the Trustees for the year ended 31 December 2020 The Trustees are pleased lo present their report together with the financial statements of the Mace Foundation for the year ended 31 December 2020. structure, governance and management The Foundation was incorporated as a private company limited by guarantee on 16 July 2012 Iregislration number 081447431 and is a registered charity {regislralion number 11501341. It operates in accordance with ils articles of association which were adopted by special resolution on 19 November 2012 and as amended by Special Resolution on g April 2019. Trustees are appointed in accordan with the articles of association of the Foundation. Following an amendment lo the governing documents of the Foundation Trustees are no longer required lo retire by rolalion through their period in office. Trustee$ are required however to give due consideration every fi've years as lo whether the retirement or rolalion of Trustees should be reintroduced to ensure the continued good governance of the Foundation and Ihereon vole upon. To date. all Trustees have been re¢ruiled from employees of ma Limited. Potential candidates are selected through consideration of their leadership, governance, finance and strategic experience and are appointed in accordance with any skills gaps that have been identified. All Trustees are employees or connected persons of employees of Mace Limited, which is the main funder of the Foundation. Trustee inductions are individually tailored lo meet the needs of each Trustee. External Trustee training is offered to all Trustees who are new to such a role covering topics su¢h as duties of Trustees under company and charity law. governance and effective interpersonal relationships. Trustees who have previously undertaken Trustee training are invited to undertake refresher courses as required. Trainlng needs are assessed individually on an annual basis. The Foundation is governed by the Trustees who met 4 limes for trustee meetings in 202012019'.4). Decisions are taken collectively with questions arising al meetings decided by a majority of voles. The Chairman has a second or casting vole in the event of an equality of voles. The Mace Foundation's executive team consists of three members.. a Chief Executive Officer. a Finance Manager, and a Head of Partnerships and Fundraising. All members of staff are employed by Mace Limited and seconded lo the Mace Foundation. In addition to their work for the Foundation. they also undertake work for Mace Limited. Related partles The Mace Foundation was sel up by the Mace group of companies lo direct ils charitable giving and activities. Trustees are Mace employees or their connected persons and the current Chairman of the Foundation is the Chief Executive Officer of Mace, Mark Reynolds. Mace Limited is also the major funder of the Foundation, having commilled itself lo donating either £300,000 or a sum equal lo 1.10 of Mace Finance Lld.'s budgeted pre-tax profits and the nel profits from Mace Limited fundraising events each year. Further, Mark Reynolds and Jason Millet are both directors and shareholders of Mace Finance Llmited, the ultimate parent company of Mace Limited. Mark Reynolds is also a Trustee of LandAid, a former strategic charity partner who continues to be an informal beneficiary. Debbi Reynolds is the wife of Mark Reynolds. Several trustees made small or immaterial donations to the Foundation or partners bul these do not warrant further disclosure. Not Confidential- Internal
Ai,mace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 ObJoctlve8 and actlvltles The Foundation's objects are such charitable purposes for the public benefit as are exclusively charitable according lo the laws of England and Wales as the Trustees may from lime to lime determine, but not exclusively by the provision of grants. The Foundation is committed to making 8 positive difference in the communities where Mace operates through charitable activities which benefit the communities for the long term. The Foundation does this on two levels.. strategic charity partnerships and a match fLtnding programme. The Mace Foundation is commilled to building strong and enduring relationships and believe that investing for the long term is the best way lo maximise the imp8Ct of its funding. This also enables the Foundation to build authentic partnerships which provide opportunities for Mace employees lo give ba¢k. The key theme for the Foundation is giving back to communities with a focus on the following areas.. Economic inequality homelessness causes Education and employment - practical support lo educate disadvantaged and vulnerable people and help them secure employment Health, Wellbeing and Environment- making a difference to the lives of people impacted by health and wellbeing issues with a particular focus on mental health support. investing in long term support of local communities and supporting The Foundation looks to find suitable strategic charity partners and signs mulli-year Ilypically three ye8rl agreements to provide largeled funding for projects. In 2020, Mind and St. Mungo's were appointed 88 3- year strategic charity partners. The Simon Healey Coaching Bursary for WheelPower was established in 2017 in memory of Trustee Simon Healey. As a tribute to Mr Healey, the Simon Healey Coaching Bursary Was created to develop WheelPower'$ coaching and volunteer workforce. helping lo increase the number of disabled people participating in sport and increase the range of inclusive sports opportunities. This will continue until 2022. Achlevements and performance We are pioud of our performance and impact in 2020 which was undoubtedly a most difficult year. We all had to show extraordinary resilience in the face of unprecedented ch811enges. Supporting each other and giving back lo our communities had never been more important. Despite the challenges posed by the pandemic and the resulting adjustments lo ways of working, the Foundation was able lo successfully launch ils two new partnerships with Mind and Sl. Mungo's, lo re-instate the match funding program after a brief suspension and resumed our fundraising activities lo keep up engagement with Mace staff. Match fundlng Through 2020 the Mace Foundation and Mace people supported 38 ¢harilies thmugh the Foundation, match funding programme donating just over £34,000 Our match funding programme remains at the heart of the Foundation and allows Mace people to increase funds they are raising for a charity close lo their hearts and in their communities. For example, in 2020, we supported the annual Newham Toy Appeal in providing 2,869 stockings filled with presents lo disadvantaged children living in East London. We also supported several food banks including Serve the City in Am51erdarn, who provide meals forfamilies who are facing financial hardship. Not Confidential- Internal
mace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 2020 Strategic partnerships As 8 result of the Foundation's grants, during 2020 our 51ralegic charity partners, Mind and St Mungo's, were able to provide much needed services to some of the most disadvantsged and vulnerable people in our communities. As well as making a difference lo the lives of their beneficiaries. these partnerships engage ma staff through fundraising challenges, volunteering and pro bono opportunities. Some of the key achievements of 2020 include.. St Mungo's 32 people being trained in ConstrLJCtion and Maintenance skills ,430 vocational training sessions and 10 people lo achieved employment through the Sl Mungo's Construction Skills training programme We provided 7-day 'FeslNe Packs, (meals and desserts) to 183 residents of Sl Mungo's Weslminsler homelessness services, which equates lo 1281 hol meals during the St Mungo's Winter Appeal Together with Mace's supply chain partners we were able lo help renovate one of St Mungo's pioneering services, a housing-based model for partiCLJlarly vulnerable homeless women in London. Over £45,500 of pro bono support and £8,480 in kind donations were provided and 766 hours spent. We will continue supporting this project in 2021 by creating a mindfulness garden to help make a real difference lo the lives of the residents Mace employees raised £26,424 by taking part in Sl Mungo's Take the Lead challenge hosllng quiz nights and abseiling down the UK'S lallesl sculpture the Arcelormittal Orbit lo help end homelessness Mlnd Our annual donation lo Mind has helped them expand their vital information services during the pandemic growing the reach of their digitsl resources with nearly 2 million views of their COVID-19 information hub since ils launch in March 2020 We continued to facililale deeper relationships between Mind and Mace's Health and Wellbeing team lo help raise awareness around go(Id mental health at work Mace employees pul on a Karaoke Night. lunchlirne talks, quizzes and more to raise funds and awareness for mental health Flnaneial review The Foundation's in¢ome for the year totalled £381,253 {2019: £586,270) whilst expenditure lotalled £356,54612019: £620,387) ofwhich £277.95812019, £513,908) relates to direct charitsble expenditure. Income and Expenditure in 2020 was impacted by the Covid-19 pandemic. Funding comes from three main sources.. Mace Limited donations £260.00012019.. £312,000). Mace Limited fundraising £120,94812019'. £273.088), and other donations £30512019: £1,182}- Charitable expenditure of £277.958 (2019.. £513,908) was made up of strategic Charity partnerships £120,00012019.' £130,000), direct donations to charities £123,78012019.' £146,575) and employee and project match funding donations £34.178 {2019.' £237,333). Support and govemance costs totalled £78,18012019.' £105,456). £109,151 of restricted expenditure was made in 2020 12019.. £91.9751,' the majority relating to a donation to the NHS for PPE, project fundraising costs, project donations for nominated charities, and Mace Ltd donations for strategic charity partners. Not Confldential- Internal
mace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Reserves Al 31 December 2020 reserves lolalled £73,03812019.. £48,331). The Tru51ees had previously agreed that no more than fi've per cenl15.hl of the Foundation's annual income should normally be retained as unreslricled funds at the year-end. The aelual level of reserves 15 reviewed annually in December and Trustees agreed that the 2020 surplus reserves should be brought forward lo 202110 miligale against any potential fundraising income shortfalls. Rlsk management The Trustees have undertaken their annual review ofthe major risks to which the Foundation is exposed and are satlsfied that appropriate mitigating actions are in place lo reduce or control each risk. During the year, the COVID-19 pandemic unfolded in ways that could not have been predicted. Consideration was given to the uncertainly caused by the pandemic particulaily lo the increased risk to the charity's income for 2020 and beyond. Ma¢e Lld.'s donation for 2020 reflects the charity's reduced operations in the year and the subsequent reduction in variable expenditure. The 2020 donation from Mace along with surplus reseNes and fundraising income comfortably covered the charity's fixed cost commitments which are comprised of charity partnerships and salary costs. In addition, the terms of the staff secondmenl contracts allowed for flexing of staff ¢osts to Mace Ltd. which resulted in a reduction of budgeted salary costs as the Finance Manager was re-allocated to the Mace treasury team. An additional reduction to salary costs was realised through furlough credits. As a further risk management measure, TTuslees agreed to hold a higher level of reserves as a contingency for any potential shortfall in 2021 fundraising. However, robust planning for 2021 fundraising was finalised al year end and a steady calendar of events, predominately virtual, have been planned for 2021 with realistically achievable income targets. Uncommilled expenditure has been planned with funding risks in mind and will be monitored continually and closely. Grant maklng policy The Mace Foundation does not consider external requests for grants or donations, focusing support on specific charities and nol-for-profil organisations which build on existing relationships through Mace Limited employees and projects. All requests are subject lo Trustee approv818nd musl align with the Foundation's charitable objectives. We proactively and strategically support projects where we can make a real and sustained difference. Plans for future periods Due lo the coronavirus pandemic, we have reappraised our CO activities and there are 3 key areas we will be exploring in our business planning.. awareness, partnerships, and fundraising. Awareness - we will ¢ontinue to raise awaTrness and engagement across Mace about the purpose of the Mace Foundation and our charity partners and their charitable causes. We will identify Mace networks and projects to work with on specific inilialives. Charity partnerships ~ we will continue working with Mind, Sl Mungo's, and Dubai Cares to identify projects outside of fundraising where Mace people can use their expertise and skills lo benefit the charities and themselves. For example, pro bono projects such as working with Sl Mungo's employment team lo create a pathway specifically lo develop their clients work capabilities for long term property maintenance roles. Fundralslng - we will continue lo provide Mace people with organised fundraising challenges with our charity partners and the Mace Foundation. We will provide support for projectslleams with their bespoke fundraising ideas and engage with targeted projects to make a bigger impact. Not Conftdentlal- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 During 2021 the Trustees intend lo review their Engagement and Fundraising strategy and approach and also the effectiveness of Grant Giving and associated Impacts to ensure they are securing funding and clelivering charitable outcomes as efficiently as possible. The efforts of Mace people are fundamental to making our charity partnerships a success. From fundraising and raising awareness to volunteering and pro-bono work, the Foundation recognises that Mace people are central to our vision of making a lasting impact in the communities where Ma operates. Our Mace Foundation Ambassador programme was launched in early 2020 but due lo the restrictions imposed by the pandemic, il was decided Ihatthe programme be put on hold and relaunched al a future dale when events could be held more reliably. In 2021. the Mace Foundation Ambassador programme merged with the Mace Wellbeing Ambassadors lo bring together the worlds of wellbeing and giving. We believe that combining resources will support the growth and reach of the Mace Foundation. Our ambition to set LJP International partnerships in key Mace International hubs (North America. UAE, South Africa, and Australia) is ongoing and we are pleased that an Americas region working group was established in December 202010 help increase staff engagement and coordinate the region's charitable giving. The group has identified b0 charities they would like lo support in 2021- Dress for Success Worldwide and The Nature Conservancy for South America. The group will work with each charity lo identify how best lo support the ¢harilies on a lo¢al level through fundraising and volunteering. We are also pursuing an official partnership with Dubai Cares with whom the Mace team in UAE have supported for a number of years through fundraising, volunteering and raising awareness. Public benefit The Trustees have considered the Charity Commission's requirement in respect of public benefit. In their view, the charity meets, in full, the criteria to satisfy the test. The Trustees, annual report describes the activities undertaken to further ils charitable purposes for the public benefi't. Polltlcal donations Donations to political parties are specifically prohibited by the Mace Foundation. Therefore no donations were made within the year. Dlrectors and officer's insurance During the year. the company provided directors, and officers, insurance cover. Trustees. responsibilities in relation to the financial statements The Trustees (who are also directors of Mace Foundation for the purposes of company law) are responsible for preparing the Trustees, Report lincorporaling the directors, report) and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financi21 Reporting Standard applicable in the UK and RepubliG of Ireland (United Kingdom Generally Accepted Accounb'ng Praclicel. Company law requires the Trustees lo prepare financial statements for each financial year, which give a true and fair view of the stale of affairs and income and expenditure of the charitable company for that period. In preparing these financial statements the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP., make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalemenls.. and prepao the financial sl8tements on the going concern basis unless il is inappropriate lo presume that the charitable company will continue in busines5. Not Confidentlal- Internal
Imace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 The Twslees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking Teasonable steps for the prevention and detection of fraud and other iegUlar1ties. The maintenance and integrity of the charity's website is the responsibility of the Trustees. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions. This report has been prepared in accordance with the Slalement of Recommended Pracli¢e'. Accounting arkd Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Financial Reporting Standard applicable in the United Kingdom and Republic of ITeland IFRS 1021 and the Charities A¢1 2011. In preparing the Iruslees, report advantage has been taken of the small company's exemption. Mark Reynolds Chairman Not Confidential- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 OECElVtBER 2020 Independent Examinevs Report to the Trustees of Ma¢e Foundation (the Company) I report to the charity trustees on my examination of the accounts of th8 Company for the year ended 31 December 2020 set out on pages 1010 19. Responsibilities and basis for report As the charity's trustees land also its directors for the purposes of company lawl you are responsible for the preparation of the accoun15 in accordance with the qUIrementS of the Companies Act 2006 I'lhe 2006 Act,). Having sat15fied myself that the awounls of the Company are not requifed lo 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 Ch8riles Act 2011 {'the 2011 Act.). In arrying out my examination I have followed the directions given by the Charity Commission under section 145{5}{b) of the 2011 Act. Indopendent examiner's statement Since the Comp8ny's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l a member of the Inslilule of Chartered Accounlanls in England and INales, which is one of the listed bodies. I have completed my examination. I confirm that no mallers have come to my attention In connection with the examination giving me cause lo believe.. accounting recorcl8 were not kept in respect of the Company ag required by section 386 of the 2006 Act., or the accounts do not accord wsth those iecords.. or the account8 do not comply with the accounting requirements of secllon 396 of the 2006 Act other than any requirement that the accounts give a 'true and falr vSew whlch is not a maller considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 1021 I have no concerns and have come across no other matters in connection with the examlnation to which atler¢tlon Should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Paul Newton FCA Jacob Cavenagh & Skeel 5 Robin Hood Lane Sutton Surrey SM12SW Date.. 2S rIkthr ZrJZI
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 statement of Flnanclal Actlvltles {Including Income and expendlture account) for the year ended 31 December 2020 Notes Unrestrlcted Restrlcted funds funds 2020 2020 Total Unrestricted Restrlcted funds funds funds 2020 2019 2019 Total funds 2019 Income: Donations and legacies 272,102 109,151 381,253 494,295 91,975 586,270 Total Income 272 102 109151 381253 494 295 586 270 Expendlture: Costs of raising funds Fundraising costs {17,7201 {17,720) (20.712} 120.712} Expenditur8 on charitable 8Ctivitl8S Donations payable (229,675) {109,151) 1338,8261 (507,700) {91,9751 1599,675) Totsl expendlture 247 395 109 151 356 $46 528412 620 387 Net Incomel(expenditure} 24.707 24.707 134,1171 (34,1171 Net movement In fund8 Funds brought forward Ii/t2 Funds carrled fotward 48.331 48,331 All income and expenditure derive from continuing aclivilies. The notes on pages 13 10 19 form part of these financial statements. io Not Confidential- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Balance sheet at 31 December 2020 Notas 2020 2019 Current Asset$: Debtors Cash at bank and in hand 27,430 38,928 90,540 130,883 Llablllties: Creditors.. Amounts falling due within one year 17,502 82.552 Total net assets 10 The funds of the charlty: Unreslricled funds Restricted income funds 12 73,038 48,331 73,038 48,331 The Trustees Idireclors} are s81isfied that the company is enlilled lo exemption from the provisions of the Companies Act 2006 (the AGI) relating to the audit of the financial statements for the period by virtue of Section 477. and that no member or members have requested an audit pursuant lo Section 476 of the Act. These financial slatsmenls have been prepared in accordance with the provisions available to companies subject lo the small companies, regime within Part 15 of the Companies Act 2006. The trustees acknowledge their responsibility for.. ensuring that the company keeps adequale accounting records which comply with Section 386 of the Act,. and preparing financial statements which give a t¥ue and fair view of the slate of affairs of the Gompany as at the end of the financial period and of ils surplus or deficit for the financial period 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 lo the company. These financial statements were approved by the trustees and aulhorised for issue on 23 sep.tember 2021 and are signed on their behalf by.. Mark Reynolds Chairman The notes on pages 13 10 19 form part of these financial statements. Company Number: 08144743 li Not Confidential Internal
Ai,mace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Statement of Cash Flows for the year ended 31 December 2020 Noles 2020 2019 Nel cash {used inl operating activities 15 128,8451 19,452) Cash flows from investing activities Cash flows from financing activities Change In cash Sn the year 128,845) 19,4521 Cash al the beginning of the year 91.955 101,407 Cash at the end of the year 12 Not Confldentlal - Internal
Jimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the flnancial statements for the year ended 31 December 2020 General informatlon Mace Foundation is a registered charity (Charity Number.. 11501341 and is a private company limited by guarantee (Company number.. 081447431, incorporated in England and Wales and domiciled in England. The registered office is 1 $5 Moorgale, London, EC2M 6XB. A¢¢ounting policies The principal accounting policies are sel out below. The accounting policies have been adopted consistently throughout the year. al Basis of accounting The accounts (financial stalemenlsl have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Chaiities Act 2011 and the Companies Act 2006, The financial statements are presented in £ sleding and are rounded lo the nearest £1. The company constitutes a public benefit entity as defined by FRS 102. bl Going concern Having assessed the Foundation's financial position and plans for the foreseeable future in light of the impact of COVID-19, the Trustees are satisfied that il remains appropriate lo prepare the financial statements on a going cOnM basis. Vlfftilst there has been a reduction in the charity's budgeted 2020 income, the level of income received lo dale is £240,000 and together with the brought forward reserves from 2019, comfortably exceeds the fixed commitments lo the charity's beneficiaries and salary costs. Trustees reviewed the 2020 forecast monthly and 8t present the level of forecast reserves, £25,300, is more than the 50k of income reserves policy. In 2021 and beyond, the donation from Mace Ltd as the main source of income for the charity remains a firm commitment and the Trustees expect the Mace Ltd. donation will more than sufficiently cover all the very minimal fixed costs of the charity. The Trustees believe that the pipeline of Ihoughlfully planned fundraising events will provide the charity with the additional resources to continue its operab'ons. Through sound financial planning and additional proactive actions in response lo the pandemic, the Trustees have concluded that COVlD-19 will not materially affect the abi5ily of the charity lo continue as a going concern for the foreseeable future. c) Income Charitabl8 donations All income is recognised once the charity has enlillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Coronavirus Job Retention Scheme govemment grant Incon - CJRS grant Income is recognised in the period to which the underfying furloughed staff costs relate. 13 Not Confidentlal- Internal
•1,mace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notss to the financial statements for the year ended 31 Decembor 2020 Icontinuod} d) Expenditure Expenditure is accounted for on an accruals basis and recognised when a liability is incurred. Costs of raising funds are those costs incurred in attracting voluntary income. Support costs are those functions that assist the work of the charity but do not directly undertake charitable aclivilies. Support costs include stsff costs, non-recoverable VAT, sundry consumables and governance costs. Governance costs are those costs primarily incurred in respect of compliance with statutory and conslilulional requirements. The basis for the allocation of support costs are sel out in note 7. Donations payable are payments made lo third parties in the furtherance of the charitable objectives of the Foundation. Mulli-year grants lo strategic charity partners a accounted for when the recipient has a reasonable expectation that they will receive a grant and when the Trustees are s8tisfied that the conditions included within the agreements have been met,. this will usually be on an annual basi$. Grant recipients are sel out in note 6. e) Fund structure The funds held by the charity are either.. Unrestricled general funds these are funds which Gan be used in accordance with the charitable objects al the dis¢relion of the Trustees. Reslricled funds - these are funds that can only be used for particular restricted purposes within the objects of the chartty. Reslriclions arise when specifred by the donor or when funds are raised for partlcular restricted purposes. fl VAT The ¢harilable rompany is not registered for VAT. Non-recoverable VAT is in¢luded within support costs. gl Taxation The charitable company is exempt from Corporation Tax on its charitable activities. The charity is exempt from tax on income and gain5 falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the exlenl that these are applied lo its charitable objects. h) Financial Instruments The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement values. 14 Not Confidential- Internal
Jimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the financlal statements for the year ended 31 December 2020 (continued Donations and legacles Unrestricted Restricted funds funds 2020 2020 Total Unrestrlcted Restrlcted funds funds funds 2020 2019 2019 Total funds 2019 Mace Limited donation$ Mace Limited fundraising Other donations 220.000 51,797 305 40,000 260,000 69,151 120,948 305 300,000 193,143 1,152 494,295 fj2,000 79,945 30 312.000 273,088 1,182 586.270 272.102 109.151 381,253 91,975 Fundraising costs Noles Unrestricted Restricted Funds funds 2020 2020 Total Unrgstricted Restricted funds Funds funds 2020 2019 2019 Total fund$ 2019 Direct fundraising costs Support and governance 14081 117.3121 {17,7201 1408} 117,3121 117,7201 {1,0231 {19,S891 120,7121 11,0231 119,6891 120.7121 Charitablg activities Nots$ Unrestricted Restrictgd Funds funds 2020 2020 Totsl Unr9Stricted Restricted funds Funds funds 2020 2019 2019 Total funds 2019 Grants lo strategic charity partners Donations to charities Match funding donations to charities Total donations Support and goveman 1120,000) 1120,0001 {14,629) 1109,151) (123,7801 1130,0001 154,6001 1130,0001 191,9751 {146,5751 34,178 1168,8071 1109,1511 1277.9581 {60,8681 160.8681 1229,675} {109,151) 1338,8261 237,333 1421,9331 {85,7671 {507,700} 237,333 191,975} 1513,9081 185,7671 {91,9751 (599,6751 15 Not Confldential- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the financial statgments forthe year gndod 31 December 2020 Icontinuedl Grant payments 1000kn of the grants and donations were to inslilutlgns. The table below shows details of the grants lo the strategic charity partners. 2020 2019 Proactive partnerships Construction Youth Trust 40,000 20,000 40,000 LandAid 10,000 55,000 55,000 Mind Sl Mungo's Youth Hostel Association 20,000 Multi-year monetary partnerships Institution of Civil Engineers Total grants 10,000 130,000 120,000 Support costs Unrestricted Restri¢ted funds funds 2020 2020 Total Unrestricted Restricted funds funds funds 2020 2019 2019 Total funds 2019 Staff costs Insurance Bank charges Non-recoverable VAT other costs Governance costs (72,4061 11,450) 1126} 16121 19951 12,5911 178,1801 172,4061 11,4501 11261 16121 {9951 12,5911 178.1801 197,746) 11,4001 13291 19511 11,380) {3,650} 1105,456} 197.7461 11.4001 13291 {951) 11,380} 13,650} 105,456} The Chief Executive Officer, Mace Foundation Finance Manager,. Head of Partnerships and Fundraising are employed and paid by Mace Limited. They are seconded lo the Foundation with the relevant costs re-charged to the Mace Foundation. The 312019.. 31 staff members during the year are all considered to be key management personnel. No employees received employee benefits of more than £60,000. Governance costs include the independent examination charges for the year of £2,250 (including VATI plus fees for preparation of the accounts of £750 lincluding VAT}. Support costs have been allocated lo charitable activities and fundraising based on staff time. Trustees, remuneratlon and expenses: No trustees received any remuneration or benefits in kind during the period. No tfftvel or other expenses were reimbursed lo trustees during the period. 16 Not Confldentlal - Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the financlal statements for the year ended 31 December 2020 Icontlnuedl Debtors 2020 2019 Accrued income Mace Limited 21.097 6.333 27.430 38,928 38,928 Credltors: amounts falling due within one year 2020 2019 Trade creditors Credit card Independent examination Mace Limited Unpaid charitable donations {2.9421 {6,5581 13,0001 12.9421 119.5351 14,3801 114,9311 140,764) 182,552} 15,0021 117,5021 10. Allocation of net assets between funds Unre8trlcted Restrlcted funds funds 2020 2020 Total Unrestrlcted Restrlcted funds funds funds 2020 2019 2019 Total funds 2019 Current assets Current liabilities 90,540 117,5021 73,038 90,540 117,5021 73,038 125,359 {77,0281 48,331 5,524 130.883 15,5241 {82,552) 48,331 17 Not Confidential- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the financlal statements for the year ended 31 Decomber 2020 (continued) 11. Restrlcted funds- 2020 Balance at 1 January 2020 Balance at 31 December 2020 Income Expenditure Mace Limited Donations Total restrlcted funds 109.151 109.151 {109,151) {109,1511 Restrlcted funds - 2019 Balance at 31 December 2019 Balance at 1 January 2019 Income Expendlture Mace Limited Donations 91,975 91,975 191,9751 (91,9751 Total restrlcted funds Mace Limited Donatlons - These funds represent donations made from Mace Limited to the Mace Foundation for specific causes and the subsequent donation of these funds. 12. Unrestrlcted funds - 2020 Balance at 31 December 2020 Balance at 1 January 2020 Income Expenditure General Fund 48.331 272,102 (247,395) 73,038 Unrestricted funds- 2019 Balanco at 31 December 2019 Balance at 1 January 2019 Income Expendituro Gengral Fund 82,448 494,295 {528,412) 48,331 18 Not Confidentlal Internal
Imace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Notes to the financial statements for the year ended 31 December 2020 Icontinuedl 13. Liability of the Members The charitable company does not have a sha¥e capital and is limited by guarantee. In the event of the charitable company being wound up, the maximum amount that each member is liable to contribute is one pound. As al 31 December 2020 there were 8 members12019.' 81. 14. Related party transactlons The Mace Foundation was sel up by the Mace group of companies lo direct ils charitable giving and volunteering aclivilies. Trustees are Mace employees or their connected persons and the current Chairman of the Foundation is the Chief Executive Officer of Mace. Mark Reynolds. Mace Limited is also the major fLJnder of the Foundation, having commilled to donating 1 of ils budgeted pre-tax profits comprising MaGe Limited donations and Mace Limited fundraising events each year. Further, Mark Reynolds and Jason Millet are both directors and shareholders of Mace FinanTr Limited, the ultimate parent company of Mace Limited. Mark Reynolds is also a Iruslee of LandAid, one of Mace Foundation's strategic charity partners, having joined the LandAid board after il became a strategic partner. During the year a grant was paid to LandAid of £10.00012019 - £20,000) and £1,220 credit card expenditure was also reimbursed to LandAid12019'. £nill. Additionally. Debbi Reynolds who is a Trustee of Mace Foundation is the wife of Mark Reynolds. 15. Re¢on¢iliation of net movement in funds to net ¢ash flow from operating activities 2020 2019 Nel movement in funds Decrease in debtors (Decreasellincrease in creditors Nel cash used In operatlng aetlvltles 24,707 17,831 71,383 28,845 (34,1171 8,188 16,477 19 Not Confidential- Internal
Iimace foundation ANNUAL REPORT AND ACCOUNTS 31 DECEMBER 2020 Income and Expenditure account for the year ended 31 December 2020 2020 2020 2019 2019 Income 381,253 586,270 Deduct: Expenditure Charitable donations Staff costs Legal, professional and governance Non-recoverable VAT Financial Fundraising Other expenditure 1277.9581 172.4061 12,591} 16121 11261 14081 1513,9081 197,746) {3,6501 19511 (3291 11,023) 1356,546) 1620,3871 Net surplusl{deficit) 24,707 34,117 Legali professional and governance Independent examination charges 12,591} (3,6501 Flnanclal Bank charges and interest 1126} 13291 This page does not form part of the statutory accounts. 20 Not Confidential- Internal