Charlty Registratlon No. 1156623 JOHN SYKES FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 JOHN SYKES FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trusts¢$ IAr. J J Sykes Miss. A E Sykes Mr. C J Sykes Mr. A J Strong Charlty numbor 1156823 Unbled Kngdom JOHN SYKES FOUNDATION C014TENTS Page Trustees, rop¢)rt Independent examiner's report Statement of financial a¢tivities Balance sheet Notes to the financial statements JOHN SYKES FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees present their report and finanaal statements foT the year ènded 31 December 2021. The financial 8latements have been prepared in accordance wth the accounb.ng polioes sel out in note 1 10 the financial slalements and comply with ihe charity's goveming document, the Charities A¢t 2011 and 'Accounling and Reporting by Chanb"es.' Slalement of Recommended Practice applicable lo eharllies preparing their accounts in accordance with the Financi8[ Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 leffectiv8 1 January 20191" The trustees have paid due regard to guidan￿ issued by the Gharity Commission in deading what activities the charity should undertake. strn¢ture* 9ovgrnance and managomont The charity Is contrdled by its goveming document, a deed of trust and constitutes an unincorporated charity. The Iruslees who served during the year gnd up to the dale of Signature of the finan¢ial $tstam8nts were.. Mr. J J Sykes Miss. A E Syke$ Mr. C J Syke8 Mr.AJ Strong The trust report was approved by the Board of Trustees. Mlss. A Trustee Dated.. 12 September 2022 Syko$ JOHN SYKES FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN SYKES FOUNDATION I report to the Irusteas on my examination of the financial statements of John Sykes Foundation Ilhe charityl for the yeai ended 31 December 2021. Rgspon$lbllitles and basis of report As the trustees of the charity you are responsible for the preparation of the financial stslements in accordanca with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Indepgndent •xamlnef$ statemgnt Your attention is drawn to the fact that the charity has prepared financial statements in accordance wth Ac¢ountsng and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irel8nd IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 vh)ich is referred to in the extant regulations bLrt has now been withdrawn. l understand th* this has been done in order for fina￿181 statements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matter8 h8ve come to my attention in connection wth the examination giving me cause to believe that in any m8lerial respect.. accounting records We￿ not kept in respect of the charity as required by section 130 of the 2011 Act,. or the finanaal gtatemenls do not accord wth those recoTds', or the financial statements do not comply wlth the applicable requirements eoncerning the fomi and content of a¢counts set out in the Charib"e$ (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter Considered as part of an indwndenl examination. I have no concerns and have come across no other matters in connection with the examinatlon to which attention should be drawn in this report In order to enable a proper understanding of the finarrial statements to be reached. Koi¢hi Ni¢holas Dated.. JOHN SYKES FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestrlcted Unrestricted funds funds 2021 2020 Note8 me Donations and legacias Investments 34,123 151 28,998 101 Total In¢om8 34,274 29.099 Raising funds 731 923 Chadtsble activities 57,030 5,152 Total rosourcès expended 57,761 6,075 Net lexpendlturelllnGome for the yearl Net movement In funds {23,487) 23,024 Fund balances at 1 January 2021 23,857 833 Fund balances at 210￿eMb#r 2021 370 23,857 The statement of flnanclal actiwties includes all gains and l¢)sses re￿gnIsed in the year. All income and expenditure dorive from conb'nuing activities. JOHN SYKES FOUNDATION BALANCE SHEET AS AT31 DECEMBER 2021 2021 2020 Notss urrent assets Cash at bank and in hand 370 23,857 Net current assets 370 23,857 Income fund5 Unre$tric18d funds 370 23,857 370 23,857 The financial statements were approved by the Trustees on 12 September 2022 Miss. A E Sykes Trustee JOHN SYKES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting pollcles 1.1 Ac¢ountlng conventlon The financial statements have been prepared in accordan￿ wf(h the Charities Act 2011 and "Accounting and Reporting by Charities.. Stolement of Recommended Practice applicable to charities preparing their acuunts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffective 1 January 20191". The chanty is a Public Benefit Entity as defined by FRS 102. The charty has taken advantage of thg provisions in the SORP for eharf(ies applying FRS 102 Update BulletSn 1 not to prepare a Statement of Cash Flows. The finanual statements are prepared in sterling, whiGh is the funcknonal currency ol the charity. Monetary amounts in these finaneial statements ar8 rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to in¢lude the revaluation of freehold properties and lo include investment properties and Gertain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concem At the lime of approving the finanryal ststements, the trustees have a reasonable expectation that the charity has adequate resourcos to continue in operational extstenc8 for the forèseeable future. Thus the trustaas eontinue to adopt the going concèrn basis of accounting in preparing the financial stalemenls. 1.3 Charltable funds Unraslrict6d funds are available for use at the discretion of the trustees in fvrther8nce of thèir eharitable objectives. 1.4 Income Income is recognised when the ch8Tity is legally entFtled to it after any performance condltlons have been met, the amounts can be measured reli3bly, and il is probabla that income will be receiv¢d. Cash donations are recognised on rec¢ipt. Other donations are recognised On￿ the Charity has bèan notified of the donation, unless perfomance condllions require deferral of the amount. Incorne tax recoverable In relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legaaes are recognised on reteipl or olhenmse rf the charity has been notffied of an impending dlstribulion, the amount is known, and receipt is expectèd. If the amount Is not known, the legacy is treated as a contingent asset. 1.5 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks. other short-lem liquid investments wth original maturities of three month* or lea3, and b8nk overdrafts. B&nk overdrafts a shown wthin borrowings in current liabilities. 88slc financlal assets Basie financial assets, which include debtors cash and bank balances, are inltially measured at transaction price including transaction CDSts and are subsequently carried at amortised cost using the effective Inlerast mèthod unless the arrangement conslitules a financing Iransaclion, where the tran8acll¢)n is measured at the present value of the future receipts discounted at a market r8le of int&r&st. Finanryal assets classified as receivable within one year are not amortise¢J. JOHN SYKES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Accountlng pollcl•s IContlnued> Basic flnancial liabilities Basic financial liabilities. including creditors and bank loan8 are inits'ally recognlsed at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable w((hin one year arè not amortised. Debt instruments are subsequently Garried al amortised w$1, usin9 the effect'vo interest rate method. Trade credffors are obligations lo pay for goods or services that have been acqulred in the ordinary cc*Jr8e of operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised inrtially at transaction prfce and subsequently measured at amortised cost using th8 effective interest method. Dere¢ognltlon of ffnanelal Ilabllltles Financial liabilities a￿ derècognised when the charty's conlradual obligation8 expire or are discharged or car￿lled. 1.6 Taxatlon The Charity is exempl from tax on ils charitable adivilies Donatlon$ and 18gael•s Unrestricted Unrestricted funds fund$ 2021 2020 General donations Sykes family Covid funding Sykes Family administration c0818 reimbursed 1,030 17,148 15,214 731 30 3,045 25.000 923 34,123 28,998 Invostments Unrestrlcted Unreslricled fund$ ft¢nds 2021 2020 Interest feceivable 151 101 JOHN SYKES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Ralslng lunds Unre8tr]cted Unrestricted funds funds 2021 2020 Tradin Support costs 731 923 731 923 Charltable actlvltlg$ Charltable Charltable ExpendltureExpendlture Heading 1 H￿dIng 1 2021 2020 Gommunlty recognition Advancement of educali Relief of those in need as a result of fin8nThal hard$hip Relief of those in need as a result of ill heatth Relief of those in neert as a result of disability 52,460 1,053 3.819 270 10 1,010 3,560 57,030 5,152 57,030 5.152 Support ¢osts Support Govemance costs costs 2021 Support Goveman costs costs 2020 Rates and water Advertising Stationery Profèssional feas Bank charges 507 187 507 187 827 59 35 3S 35 35 731 731 923 923 Analysed between Tr8ding 731 731 923 923 JOHN SYKES FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Trustees None of the Injstees lor any persons wnnected wth them) recelved any remuneration, benefits or expensès from the tharity during the year. Employees The average monthly number of employees during the year was.. 2021 Number 2020 Number Totsl R•lated party tran$a¢tlons There were no disclosable related party transactions during the year12D20- none).