2022-03-31-accounts

Reports
Reference and administrative information
Trustees' report	2
Independent auditor's report	9
Financial statements
Statementoffinancial activities	13
Balance sheet	14
Statementofcash flows	15
Principal accounting policies	16
Notes to the financial statements	19

Trustees	Marco Gobbetti (resigned 16 September 2021)
	Lord Christopher Holmes
	Dr Gerard Murphy (appointed16September
	2021)
	Edward Rash
Secretary	Helen Martin
Principal office	Horseferry House
	Horseferry Road
	London
	SW1P2AW
Company registration number	08731570
Charity registration number	1154468
Auditors	Buzzacott LLP
	130 Wood Street
	London
	EC2V 6DL
Solicitors	Winckworth Sherwood LLP
	Minerva House
	5 Montague Close
	London
	SE198B
Bankers	Lloyds TSB Bank pie
	City Office
	25Gresham Street
	London
	EC2V7HN

, Gerard Murphy , Edward Rash 08 December 2022

08 December 2022

Notes	Year to 31March Unrestricted Restricted 2022 funds funds Total £ £ £ 1,577,002 218,216 1,795,218 59 59	Year to 31March 2021 Total £
Income Donations and legacies Investment income 2 Total income Expenditure Charitable activities - Promoting and enhancing charitable work . Grants payable 3 . Support costs 4 Total expenditure Netexpenditure and net movement in funds Reconciliationoffunds Total opening funds Total closing funds		2,533,089 17,396 2,550,485
	1,577,061 218,216 1,795,277 (2,701,252) (320,000) (3,021,252) (13,088) (13,088) (2,714,340) (320,000) (3,034,340) (1,137,279) (101,784) (1,239,063) 3,388,139 203,130 3,591,269 2,250,860 101,346 2,352,206
		(3,622,480) (21,077)
		(3,643,557)
		(1,093,072) 4,684,341
		3,591 ,269

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Gerard Murphy
08 December 2022
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Edward Rash
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		Year to 31March 2022 £	Yearto 31March 2021 £
Cash flows from operating activities Netmovementin fundsperthe statementoffinancial activities Investmentincome Increaseincreditors Netcash used in operating activities Cash flows from investing activities Investmentincome Net cash providedbyinvesting activities Change in cash and cash equivalents Opening cash and cash equivalents Closing cash and cash equivalents		(1,239,063) (59) 1,388 (1,237,734) 59	(1,093,072) (17,396) 17
			(1,110,451)
			17,396
		59	17,396
		(1,237,675) 3,596,496	(1,093,055) 4,689,551
		2,358,821	3,596,496

Notes to the financial statements Year to 31 March 2022

1 Donations

Donations
	Unrestricted funds £	Restricted funds £	Year to 31 March 2022 Total £	Year to 31 March 2021 Total £
Donations from Burberry Group Other donations Total donations	1,577,002 —	217,362 854	1,794,364 854	2,412,683 120,406
	1,577,002	218,216	1,795,218	2,533,089

2 Investment income

Investment income
	Unrestricted funds £	Restricted funds £	Year to 31 March 2022 Total £	Year to 31 March 2021 Total £
Bank Interest Total investment income	59	—	59	17,396
	59	—	59	17,396

3 Grants payable

Grants payable
	Unrestricted funds £	Restricted funds £	Year to 31 March 2022 Total £	Year to 31 March 2021 Total £
UK Teach First Oxfam Ideas UNICEF The Federation of London Youth Clubs Royal College of Art The Career and Enterprise Company MyKindaCrowd Elvis & Kresse (EAKO Ltd) Kings College France Pur Projet USA Research Foundation of the City University of New York Studio in a School Association Ballet Theatre Foundation Inc Reel Stories Teen Filmmaking Inc City Harvest Foodbank California Association of Foodbanks	485,330 462,667 400,000 — 285,000 162,719 135,050 132,129 100,000 50,594	— — — 320,000 — — — — — —	485,330 462,667 400,000 320,000 285,000 162,719 135,050 132,129 100,000 50,594	300,000 839,284 400,000 195,995 285,000 412,719 135,050 69,679 100,000 50,000
	2,213,489	320,000	2,533,489	2,787,727
	102,763	—	102,763	191,726
	160,000 60,000 60,000 60,000 — —	— — — — — —	160,000 60,000 60,000 60,000 — —	160,000 60,000 60,000 60,000 5,000 5,000
	340,000	—	340,000	350,000

The Burberry Foundation 19

Notes to the financial statements Year to 31 March 2022

3 Grants payable (continued)

Grants payable (continued)
	Unrestricted funds £	Restricted funds £	Year to 31 March 2022 Total £	Year to 31 March 2021 Total £
Italy Cooperative Social Quid Careggi University Hospital Brazil International Federation of Red Cross and Red Crescent Societies South Sudan Médecins Sans Frontières China China Soong Ching Ling Foundation Sunrise Totalgrantspayable	45,000 —	— —	45,000 —	48,000 6,660
	45,000	—	45,000	54,660
	—	—	—	85,000
	—	—	—	65,000
	— —	— —	— —	77,367 11,000
	—	—	—	88,367
	2,701,252	320,000	3,021,252	3,622,480

Grant Commitments

At 31 March 2022, grants totalling £331,333, consisting of amounts of £231,333 to Oxfam and £100,000 to UNICEF, had been approved for payment by the trustees but the funds had not yet been transferred to the recipient organisation. Since the beneficiaries had not been informed of the intention to grant these funds as at 31 March 2022, they have not been included as liabilities at this date.

At 31 March 2022, the charity had agreed in principle to make the following grants in future years:

	2022-23 £	2023-24 £	2024-25 £
Royal College of Arts The International Youth Foundation Ukraine Youth Relief Initiative OnSide Youth Zones	150,000 598,233 400,000 217,260	150,000 — — —	— — — —
	1,025,493	150,000	—

The payment of these grants is subject to annual review and is conditional on The Burberry Foundation being satisfied that the grant funds are being used in accordance with the grant agreements. As a result, a liability has not been included in the accounts at 31 March 2022 for these commitments.

The Burberry Foundation 20

Notes to the financial statements Year to 31 March 2022

4 Support costs

	Unrestricted funds £	Restricted funds £ — — —	Year to 31 March 2022 Total £ 6,473 6,615 13,088	Year to 31 March 2021 Total £
Grant and charity administration costs Audit fees Total support costs	6,473 6,615			15,850 5,227
	13,088			21,077

5 Taxation

The Burberry Foundation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities as it falls within the various exemptions available to registered charities.

6 Creditors: falling due within one year

Creditors: falling due within one year
Accruals Total creditors Grants payable at 1 April Commitments made in the year Grants paid during the year Grantspayable at 31 March	Year to 31 March 2022 Total £	Year to 31 March 2021 Total £
	6,615	5,227
	6,615	5,227
	— 3,021,252 **(3,021,252) **	— 3,622,480 (3,622,480)
	—	—

7 Restricted funds

The funds of the Foundation include restricted funds comprising the following balances held on trust to be applied for specific purposes.

	At 1 April 2021 £	Income £	Expenditure £ (320,000)	At 31 March 2022 £ 101,346
Covid-19 communityfund	203,130	218,216

During the year ended 31 March 2022 the trustees continued to support communities impacted by the COVID-19 Pandemic, through The Burberry Foundation’s COVID-19 Community Fund.

The Burberry Foundation 21

Notes to the financial statements Year to 31 March 2022

8 Connected organisations

The Foundation operates from Burberry Group offices in the UK. The charity and grant administration of the Foundation was undertaken by staff members of the Burberry Group.

No charge is made for these services.

9 Remuneration of trustees and key management personnel

The trustees consider that they comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The trustees receive no remuneration or reimbursement of expenses in connection with their duties.

10 Related party transactions

The only related party transaction relates to income received from Burberry Group (note 1).

The Burberry Foundation 22