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|**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|
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, Gerard Murphy , Edward Rash 08 December 2022
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08 December 2022
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|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|
**----- Start of picture text -----**
Gerard Murphy
08 December 2022
**----- End of picture text -----**
**----- Start of picture text -----**
Edward Rash
**----- End of picture text -----**
##
|||**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|
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## **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**