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2021-03-31-accounts

The Kate Farrer Foundation

Registered charity no: 1156580

TRUSTEES' REPORT

and

ACCOUNTS

for the year ended

31 March 2021

CONTENTS

CONTENTS
Page
Legal and administrative details 2
Trustees' report 3 - 4
Statement of financial activities 5
Balance sheet 6
Notes to the accounts 7 - 8
Independent examiner's report 9

THE KATE FARRER FOUNDATION LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021

CHARITABLE STATUS

Registered charity no: 1156580

MISSION STATEMENT

The Kate Farrer Foundation was set up in memory of Dr Kate Farrer who throughout her life gave generously to many people in different ways. Kate gave up much of her income to support people in desperate need and the Kate Farrer Foundation aims to carry on the good work that she was doing by predominantly supporting charities working in healthcare and education projects worldwide.

TRUSTEES

David Jenkins (Chair) David Farrer (Treasurer) Victoria Jenkins Katy Mack

REGISTERED OFFICE

40 Radegund Road, Cambridge CB1 3RS

BANKERS

Nat West Bank, Cambridge

INDEPENDENT EXAMINER

Geoff Mann, Geoff Mann Ltd, Cambridge

2

THE KATE FARRER FOUNDATION TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their Report for the year ended 31 March 2021, which incorporates the Legal and Administrative Details on Page 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Kate Farrer Foundation was registered with the Charity Commission as a Charitable Incorporated Organisation (CIO) on 8 April 2014. Under the terms and conditions of this CIO, the power to appoint Trustees is vested in the Trustees for the time being.

The Charity has a Board of Trustees who meet quarterly and are responsible for its strategic direction, policy and operations. The Charity does not employ any staff.

OBJECTS,ORGANISATION AND ACTIVITIES

The Mission Statement of the Charity is stated on Page 2.

The 4 main objects of the Charity are as follows:

  1. To prevent or relieve poverty and financial hardship, including to enable individuals to generate a sustainable income and be self-sufficient;

  2. To advance education;

  3. To preserve health and relieve sickness and suffering;

  4. To relieve and assist people who are victims of war or natural disaster, trouble, or catastrophe.

During the past year the Kate Farrer Foundation has received donations from individuals, organisations and fundraising events. The Trustees have awarded the following grants:

CHEMU - £11,831 to provide school fees, meals and healthcare for orphans in south west Uganda MAF Sudan - £1,000 towards fuel for emergency flights

Zambia Orphans Aid - £1,500 towards school feeding programme costs Divine Hope Foundation - £9,586 to provide education and healthcare in west Uganda Accomplish Children's Trust - £2,000 for epilepsy clinics in Uganda Livingstone Trust - £1,000 for Tanzania education project Education for the Children - £1,000 for Guatemala education project Hope Walks - £2,500 for clubfoot program in Malawi Water Harvest - £2,000 for rainwater harvesting systems in India Addenbrooke's CT - £1,200 bursary for neonatal staff training in Cambridge Child in Need, India - £1,000 to support mothers and children working in tea plantations Hands Up Foundation - £1,000 for medical costs in Syria

3

THE KATE FARRER FOUNDATION TRUSTEES' REPORT continued FOR THE YEAR ENDED 31 MARCH 2021

FINANCES

The attached accounts on pages 5 to 8 reflect the Charity's activities for the year and show the state of finances at 31 March 2021. The Trustees are grateful to Geoff Mann for his independent examination of the accounts.

RESERVES POLICY

The Trustees have conducted a risk assessment and considered the level of unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") that should be maintained by the charity to meet its liabilities and to sustain the organisation in the event of any unforseen shortfalls in income. The Trustees have assessed the reliability of the charity's main sources of income and taken into account seasonal and market trends. The Trustees have examined the requirement for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees consider that, given the nature of the organisation's work , the level of free reserves should be approximately £24,000. The Trustees are of the opinion that this provides:

RISK REVIEW

The Trustees have conducted their own review of the major risks to which the charity is exposed and have agreed a risk management strategy which comprises:

On behalf of the Trustees David Farrer

27 January 2022

4

THE KATE FARRER FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
INCOME
Indivdual Donations
2
Business donations
Major fundraising events
3
In memory of Rosemary Farrer
4
Trusts, Foundations & Churches
Total Income
EXPENDITURE
Costs of Generating Funds
Fundraising
5
Charitable Expenditure
Operating Costs
6
Governance Costs
7
Total Expenditure
NET INCOME/(EXPENDITURE) AND
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
FUND BALANCES
Brought forward 1 April 2020
Carried forward 31 March 2021		 TOTAL
Unrestricted
Funds
2021
£
45,876
1,250
30,440
1,244
3,757
82,567
54
35,617
0
35,671
46,896		 TOTAL
Unrestricted
Funds
2020
£
37,878
1,320
19,124
226
3,210
61,758
36
60,201
0
60,237
1,521
27,678 26,157
74,574 27,678

5

THE KATE FARRER FOUNDATION BALANCE SHEET AS AT 31 MARCH 2021

Note
CURRENT ASSETS
Bank Balances
CURRENT LIABILITIES
TOTAL NET ASSETS
FINANCED BY:
ACCUMULATED SURPLUS
Unrestricted Funds
Approved by the Trustees on 27 January 2022
David Farrer
Treasurer		 2021
£
74,574
0
74,574
74,574
74,574		 2020
£
27,678
0
27,678
27,678
27,678

6

THE KATE FARRER FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1 ACCOUNTING POLICIES

(a) BASIS OF PREPARATION OF ACCOUNTS

The accounts have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Kate Farrer Foundation 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 note(s).

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

(b)

INCOME

Incoming resources are recognised in the year in which the charity is entitled to the receipt, and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

(c) EXPENDITURE

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

2

3

DONATIONS
Individual donations
Regular donations
Gift Aid
MAJOR FUNDRAISING EVENTS
Gog Magog Golf Club
Marathon, concert & other
Fun in February
IN MEMORY
Rosemary Farrer		 2021
£
11,020
20,579
14,277		 2020
£
13,475
18,637
5,766
45,876 37,878
2021
£
 2020
£
30,440 15,350
3,774
30,440 19,124
2021
£
1,244		 2020
£
226
1,244 226

7

THE KATE FARRER FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

5
COSTS OF GENERATING FUNDS
Fundraising
6
GOVERNANCE COSTS OF THE CHARITY
Professional Fees
7
OPERATING COSTS
Travel
GRANTS
CHEMU, Uganda - education and healthcare
Mike Cambell Foundation, Zimbabwe - training courses for farmers
Street Child United - team India project costs
Addenbrooke's CT, UK - bursary for neonatal staff training
Divine Hope Foundation, Uganda - education and healthcare
Accomplish Children's Trust, Uganda - epilepsy clinics
Medical Aid Palestine, Lebanon - supplies and equipment for midwives
MAF, Sudan - fuel for emergency flight costs
ChildAid, Moldova - speech therapist and children's projects
Zambia Orphans Aid - school feeding programme costs
Inter Care - medical equipment to Sierra Leone & Malawi
Green Shoots Foundation - medical costs in Myanmar
WaterHarvest, India - rainwater harvesting tanks
Cambridge Churches Homeless Project - winter night shelter
Education for the Children - Guatemala education project
Livingstone Trust - Tanzania education project
Child in Need, India - mothers & children working in tea planatations
Disability Africa - play school meals in Kenya
Hope Walks - clubfoot program in Malawi
Hands Up Foundation - medical costs in Syria		 2021
£
54
54
2021
£
0
0
2021
£		 2020
£
36
36
2020
£
0
0
2020
£
0 347
11,831
0
0
1,200
9,586
2,000
0
1,000
0
1,500
0
0
2,000
0
1,000
1,000
1,000
0
2,500
1,000
35,617
35,617
18,454
3,000
1,500
1,000
14,190
1,750
3,000
0
3,000
0
3,760
3,400
1,800
2,000
0
0
1,000
1,000
0
1,000
59,854
60,201

8

THE KATE FARRER FOUNDATION INDEPENDENT EXAMINER'S REPORT

I report on the accounts of the Trust for the year ended 31 March 2021 which are set out on Pages 1 to 8.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

As the Charity’s Trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER’S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention:

to keep accounting records in accordance with section 130 of the Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act

have not been met; or

Geoff Mann Geoff Mann Ltd Dee House Highworth Avenue Cambridge

27 January 2022

9