OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-10-31-accounts

HUBBUB FOUNDATION UK

CONSOLIDATED REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2020

Registered Company in England and Wales No. 09038107 Registered Charity in England and Wales No. 1158700

YEAR ENDED 31 OCTOBER 2020 Page 2

Reference and Administrative Details

Name: Hubbub Foundation UK Company number: 09038107 Registered Charity in England & Wales: 1158700

Directors and Board of Trustees: The directors of the charitable company (the Charity) are its trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees serving during the period and since the period end were as follows: Victoria Cooke – Chair Catherine Brown Robert Gordon (resigned 12/11/2019) Ben Johnson (app. 07/04/2020) Jonathan Katz Ryan Kohn (app. 01/01/2020) Stephanie Lambert (app. 03/06/2020) Andre Le Masurier (app. 12/11/2019; resigned 10/06/2020) Deborah Luffman (app. 28/02/2020) Paul Madden (resigned 12/11/2019) James Murray Simon Oswald (resigned 12/12/2019)

Trustee changes since the year end: Sheetal Shinh and Anna Turrell were both appointed on 31 January 2021.

Principal Address and Registered Office: Somerset House

Strand London WC2R 1LA Bankers: The Co-operative Bank Charities Aid Foundation 62-64 Southampton Row 25 Kings Hill Ave London Kings Hill WC1B 4ND West Malling, ME19 4JQ Lloyds Bank Flagstone Villiers House 1[st] Floor Clareville House 48-49 Strand 26-27 Oxendon Street London London WC2N 5LL SW1Y 4EL Solicitors: Bird & Bird LLP 15 Fetter Lane London EC4A 1JP Auditor: Prime Accountants Corner Oak 1 Homer Road Solihull West Midlands B91 3QG

The Board of Trustees delegate the day to day running of the organisation to a Management Team comprising:

Trewin Restorick Gavin Ellis Heather Poore

Saskia Restorick Alexander Robinson

YEAR ENDED 31 OCTOBER 2020 Page 3

Structure, Governance and Management

Hubbub Foundation UK (Hubbub) is a company limited by guarantee, incorporated on 13 May 2014. Its governing document is its Memorandum and Articles of Association. The company is established to promote for the benefit of the public the conservation protection and improvement of the physical environment by increasing public knowledge and understanding of human behaviour which is not harmful to man and other living species and to planetary ecology. It is registered as a charity in both England & Wales.

The governance of the Charity is overseen by a Board of Trustees (the Board). The Trustees are recruited to fill specific skill-sets identified by the Board as being required to ensure the effective management of the organisation. The current skill-sets are:

Potential Trustees are invited to attend one meeting where they can get to know the other Trustees and to see how meetings operate. Once appointed to the Board, Trustees are invited to attend an induction day which is run once a year and they receive a trustee’s induction pack. The Board meets six times each year.

There are annual business plans that move the organisation towards its vision. These annual business plans are created using the following process:

Where appropriate, Hubbub creates strategic partnerships with other charities and organisations to meet its objectives. These partnerships are usually to deliver specific projects, and the parameters for the partnership are always set out within a Letter of Agreement or Memorandum of Understanding, if the partnership is significant.

Risk Management

The Board is responsible for ensuring that there is an appropriate procedure in place for the management of risks faced by Hubbub UK. A risk management plan is created using the latest recommendations from the Charity Commission and other bodies. Each risk is assessed for its likelihood and the impact it could have on the organisation. A mitigation and contingency plan is created for each major risk and a risk manager is identified.

Hubbub currently has the following major risks:

YEAR ENDED 31 OCTOBER 2020 Page 4

The Board has created a separate group to take a more detailed look at risks and this group reports back to the regular full Board meetings.

The Trustees have given consideration to the major risks to which Hubbub are exposed and are satisfied that systems or procedures are established in order to manage those risks.

Objectives and Activities Vision

Hubbub is a values- driven charity that creates environmental campaigns with a difference. We’re positive and design playful campaigns that inspire people to make healthier, greener lifestyle choices which more often than not help save money and bring people together.

We concentrate on things that people are passionate about and are relevant on a day-to-day basis, like fashion, food, homes and neighbourhoods.

We keep things simple offering realistic solutions that help people to cut waste, make clothes last longer, save money and create cleaner spaces to work and live.

Why is Hubbub needed?

The UK faces profound environmental risks that will affect our economy, quality of life and the well-being of future generations. There is no shortage of environmental initiatives to address these risks; what is missing is the translation into action at the speed and scale that scientists tell us is required.

Hubbub tries not to be another competitive organisation that adds to the plethora of existing voices that are often disparate and lacking in coherence. Instead we use our extensive network of connections in government, corporate and charity sectors to act as a convenor, bringing organisations and people together in ‘hubs’ of activity that benefit our environment.

Why is Hubbub different?

Hubbub is a values- led organisation. Our desire to act in the role of ‘conductor’ is represented in a set of strong and consistent values which are at our core and inform all our decision- making and activities. These values are:

What does Hubbub do?

Hubbub implements an innovative five-step change model that builds on academic evidence and over 20 years of practical experience. The model:

YEAR ENDED 31 OCTOBER 2020 Page 5

Public Benefit

In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission’s updated guidance on public benefit. The Trustees always ensure that the programmes we undertake are in line with our charitable objects and aims, to protect and improve the natural environment. We measure the environmental savings that each of our programmes achieve, which are set out below. In addition, many of the programmes deliver added social benefits. As a result of our work:

Achievements and Performance

The impact of COVID-19 caused a significant change in our strategy. We developed a new initiative called ‘Hubbub Explores’ which engaged with 193 organisations in virtual events seeking to understand the impact the pandemic would have on their thinking and strategies. This insight was backed up by polling 8,000 members of the public and lead to the creation of a ‘Greenprint for a Better Britain’ setting out a fairer and more sustainable UK. We engaged with a public affairs agency to bring these recommendations to the attention of MPs as they sought to create a new approach to building back better.

To support the Greenprint we launched a ‘Live Savvy’ campaign helping people at h ome to save money and live more sustainably. This approach substantially increased our social media presence with followers across Twitter, Instagram and Facebook growing to over 50,000.

In our last financial year:

Through these activities we have:

YEAR ENDED 31 OCTOBER 2020 Page 6

In addition to the continued expansion of our Community Fridge Network which now has over 130 registered fridges and the extension of our ‘In the Loop’ recycling campaign to Dublin, we have developed three new large-scale campaigns.

Neighbourhoods highlights

Our Neighbourhood Hub aims to cut pollution and increase re- use and recycling. Many of these activities were put on hold due to lockdown restrictions caused by COVID-19 and this also caused us to refocus some of our efforts to work with more disadvantaged communities. Key developments included:

Fashion highlights

The fashion industry has been severely hit by COVID-19 and we sought to understand what impact this would have on the sustainability of the sector and how it could plot a greener future.

We undertook research with 18 major retailers and undertook public polling with 3,000 consumers to assess the public mood. This resulted in a new report created for the All-Party Parliamentary Group for Ethics and Sustainability in Fashion which was launched to an audience of over 80 leading decision-makers. The report set out a series of recommendations for government, industry and citizens and will form the basis of our approach with the sector in the year ahead.

Food highlights

Our food activities have grown substantially as a result of COVID-19. With restaurants shut many people were cooking more and were increasingly concerned about food waste and eating healthily. In response to this Hubbub undertook the following activities:

YEAR ENDED 31 OCTOBER 2020 Page 7

Home highlights

Our Home Hub helps people live greener lives at home. We have:

Awards

Hubbub was shortlisted for 13 independent awards and won 7 including:

Financial Review and Results

Over the 12 month period generated income of £3,000,542 and spent £3,303,468 resulting in a year end funds position of £2,666,194.

The significant drop in income from the previous year was due to the unexpected suspension of the 5p paper cup charge facilitated by Starbucks. This suspension was the result of COVID-19 which prevented Starbucks from offering any alternatives to the disposable cup. Despite this reduction in income, expenditure remained at a consistent level which was feasible due to the level of reserve that we carried over from the previous year and the continuing demands on services.

The loss of the 5p paper cup charge further increased the importance of building income from a broader range of sources and there were a number of notable successes including:

Charity Reserves Policy

The ambition of the charity is to secure sufficient free reserves to cover operating costs for a period of six to nine months. Currently this would require a free reserve of £960,000 - £1,440,000. The free reserves at 31[st] October 2020 were £1,451,623. This is higher than requirements due to delayed campaigns, considerable uncertainty during Covid-19, lower external expenditure for digital-first projects and the constraints of delivery capacity.

Included in reserves is £1,192,942 of designated funds, of which £1,048,325 has been designated to the Starbucks fund. Of this £212,656 remains to be issued to organisations for coffee cup recycling schemes. The timing of remaining payments is subject to lockdown restrictions being lifted but likely to be towards the end of the forthcoming financial year and into 2021-22. The remaining £835,669 is designated for campaigns promoting reusable food & drink packaging, increasing cup recycling and cutting plastic pollution, with a focus around COP26 in Glasgow in November 2021 (around which expenditure will be focused).

YEAR ENDED 31 OCTOBER 2020 Page 8

The reserves also include £144,617 designated for the Waitrose Plan Plastic fund. Since the year end £94,720 has been paid to Plan Plastic fund recipients in the final instalment and the remaining balance of these funds have been converted with Waitrose’s permission as a donation t o Hubbub to be spent on communications and support for the Flexible Plastics Fund.

Future Plans: 2020/21

Plans for 2020/21 are dependent upon the impact of COVID-19 and the speed at which lockdown restrictions are lifted. With this level of uncertainty ambitions could shift, but Hubbub is seeking to achieve the following.

Food

Fashion

Neighbourhood

Home

Organisation

YEAR ENDED 31 OCTOBER 2020 Page 9

Stat ement of trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its net incoming/outgoing resources for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable compa ny’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as each of the trustees of the charitable company at the date of approval of this report is aware, there is no releva nt audit information (information needed by the charitable company’s auditor in connection with preparing the audit report) of which the charitable company’s auditor is unaware. Each trustee has taken all of the steps that he/she should have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

Auditor

Prime Chartered Accountants have indicated their willingness to be reappointed as Auditor.

This report has been prepared taking advantage of the exemptions available under the provisions of the Companies Act 2006 applicable to small companies.

Approved by the Board of Trustees on 8 June 2021 and signed on its behalf by

................................................. Victoria Cooke Chair, Board of Trustees

----- Start of picture text -----
......................................................
Jonathan Katz
Trustee
----- End of picture text -----

New Wing Somerset House Strand London WC2R 1LA

YEAR ENDED 31 OCTOBER 2020 Page 10

Ind ependent Auditor’s Report to the trustees of Hubbub Foundation UK

Opinion

We have audited the financial statements of Hubbub Foundation UK (the ‘ parent charity’ ) and its subsidiary Hubbub Foundation Enterprise Limited (the ‘group’) for the year ended 31 October 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, and the notes to the financial statements, including a summary of significant accounting policies, set out on pages 13 to 29. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no o ther purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in t he Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statem ents in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

YEAR ENDED 31 OCTOBER 2020 Page 11

I ndependent Auditor’s Report to the trustees of Hubbub Foundation UK (continued)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

YEAR ENDED 31 OCTOBER 2020 Page 12

Independent Auditor’s Report to the trustees of Hubbub Foundat ion UK (continued)

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Jeremy Kitson BA FCA (Senior Statutory Auditor) for and on behalf of Prime Chartered Accountants and Statutory Auditors Corner Oak

1 Homer Road Solihull West Midlands B91 3QG

YEAR ENDED 31 OCTOBER 2020 Page 13

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2020

Unrestricted Designated Restricted Total funds
Funds Funds Funds 2020 2019
Notes £ £ £ £ £
Income from:
Donations and legacies 2 492,643 940,000 15,306 1,447,949 3,630,773
Investments 5,339 - - 5,339 4,430
In Kind donations 3 5,500 - - 5,500 73,392
Charitable activities 4 1,253,896 - 191,124 1,445,020 1,676,226
Other income 5 96,734 - - 96,734 47
------------------------ ------------------------ ------------------------ --------------------- ---------------------
Total income 1,854,112 940,000 206,430 3,000,542 5,384,868
------------------------ ------------------------ ------------------------ --------------------- ---------------------
Expenditure on:
Raising funds 6 5,654 - - 5,654 5,276
Charitable activities 7 2,520,491 491,543 285,780 3,297,814 3,195,035
------------------------ ------------------------ ------------------------ -------------------- ---------------------
Total expenditure 2,526,145 491,543 285,780 3,303,468 3,200,311
------------------------ ------------------------ ------------------------ --------------------- ---------------------
Net income/(expenditure) (672,033) 448,457 (79,350) (302,926) 2,184,557
Transfers between funds (61,292) - 61,292 - -
------------------------ ------------------------ ------------------------ --------------------- ---------------------
Net movement in funds (733,325) 448,457 (18,058) (302,926) 2,184,557
------------------------ ------------------------ ------------------------ --------------------- --------------------
Funds brought forward at 1 November 2,184,948 744,485 39,687 2,969,120 784,563
------------------------ ------------------------ ------------------------ --------------------- ---------------------
Funds carried forward at 31 October 1,451,623 1,192,942 21,629 2,666,194 2,969,120
=========== =========== =========== ========= =========

All activities are of a continuing nature. There are no recognised gains or losses other than as shown above.

The notes on pages 17 to 29 form part of these accounts.

The comparative Consolidated Statements of Financial Activities is shown in note 24.

YEAR ENDED 31 OCTOBER 2020 Page 14

CONSOLIDATED BALANCE SHEET

AS AT 31 OCTOBER 2020

As at 31 October As at 31 October
2020 2019
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 12 12,228 18,705
----------------------- -----------------------
12,228 18,705
CURRENT ASSETS
Stock 36,251 43,601
Debtors 14 387,106 679,027
Cash at bank 3,398,655 3,369,986
------------------------------ -----------------------------
3,822,012 4,092,614
CREDITORS: amounts falling due within
one year		 15 (834,182) (1,142,199)
------------------------------ -------------------------------
Net current assets 2,987,830 2,950,415
----------------------------- ------------------------------
Total assets less current liabilities 3,000,058 2,969,120
Creditors: amounts falling due after more
than one year		 15 (333,864) -
------------------------------ ------------------------------
NET ASSETS 2,666,194 2,969,120
========== ==========
RESERVES
Unrestricted funds: 1,451,623 2,184,948
Designated funds 1,192,942 744,485
Restricted fund 21,629 39,687
------------------------------ -------------------------------
TOTAL FUNDS 17/18 2,666,194 2,969,120
============ ============

These financial statements were approved and authorised for issue by the Board of Trustees on ����1����� ��1���������1���21�����������0����

................................................. Victoria Cooke, Chair, Board of Trustees

..................................................... Jonathan Katz, Trustee

New Wing, Somerset House, Strand, London, WC2R 1LA

The notes on pages 17 to 29 form part of these accounts. Company Registration Number 09038107

YEAR ENDED 31 OCTOBER 2020 Page 15

CHARITY BALANCE SHEET

AS AT 31 OCTOBER 2020

As at 31 October As at 31 October
2020 2019
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 12 10,060 15,214
Investments 13 50,000 50,000
------------------- ------------------
60,060 65,214
CURRENT ASSETS
Stock - -
Debtors 14 373,259 641,805
Cash at bank 3,257,735 3,093,247
------------------------ ------------------------
3,630,994 3,735,022
CREDITORS: amounts falling due
within one year		 15 (809,270) (1,044,022)
------------------------- ------------------------
Net current assets 2,821,724 2,691,030
----------------------- -----------------------
Total assets less current liabilities 2,881,784 2,756,244
Creditors: amounts falling due after
more than one year		 15 (333,864) -
------------------------- -----------------------
NET ASSETS 2,547,920 2,756,244
============ ============
RESERVES
Unrestricted funds: 1,333,349 1,972,072
Designated funds 1,192,942 744,485
Restricted fund 21,629 39,687
----------------------- -----------------------
TOTAL FUNDS 2,547,920 2,756,244
============ ============

The net movement in funds for the year relating to the parent charity alone amounted to £(208,324).

These financial statements were approved and authorised for issue by the Board of Trustees on ����1����� ��1���������1���21�����������0����

----- Start of picture text -----
................................................. .....................................................
Victoria Cooke, Chair, Board of Trustees Jonathan Katz, Trustee
----- End of picture text -----

New Wing, Somerset House, Strand, London, WC2R 1LA

The notes on pages 17 to 29 form part of these accounts. Company Registration Number 09038107

YEAR ENDED 31 OCTOBER 2020 Page 16

CONSOLIDATED STATEMENT OF CASH FLOW

YEAR ENDED 31 OCTOBER 2020

2020 2020 2019 2019
£ £ £ £
Net Cash from operating activities a. (219,497) 2,979,942
Investing activities
Purchase of tangible fixed assets (2,173) (17,908)
Interest received 5,339 4,430
------------------ 3,166 ------------------- (13,478)
------------------ -------------------
Financing activities
Repayments of borrowing (145,000) (30,000)
Cash inflows from new borrowing 390,000 60,000
--------------------- 245,000 ------------------- 30,000
--------------------- ---------------------
Net movement in cash and cash equivalents 28,669 2,996,464
Cash and cash equivalents at 1 November 3,369,986 373,522
--------------------- ----------------------
Cash and cash equivalents at 31 October 3,398,655 3,369,986
========== ==========
Notes to Statement of Cash Flows
2020 2019
£ £ £ £
a. Reconciliation of Net expenditure to Net Cash outflow from Operating Activities
Net income / (expenditure) for the year (302,926) 2,184,557
Depreciation 8,650 6,667
Interest receivable (5,339) (4,430)
Decrease/(increase) in debtors 291,921 181,006
Increase/(decrease) in creditors (219,153) 643,717
Decrease/(increase) in stock 7,350 (31,575)
--------------------- --------------------
(219,497) 2,979,942
=========== ===========

YEAR ENDED 31 OCTOBER 2020 Page 17

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of Accounting

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 (FRS102)), the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Companies Act 2006.

The Hubbub Foundation meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

(b) Going Concern

The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the charity's ability to do so.

(c) Group Financial Statements

The financial statements consolidate the results of the charity and its wholly owned subsidiary Hubbub Foundation Enterprise Limited on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

(d) Donations and grants receivable

Donations and grants receivable, including capital grants, are brought into the accounts on receipt or when receivable, where the receipt is probable. Income is deferred only when:

(e) Charitable Activities

Charitable activities are brought into the accounts on receipt or when receivable, where the receipt is probable. Charitable activities consists of:

(f) Donated services

Donated services comprise donated services and facilities and are included in income where such donations are financially quantifiable, at an estimate of the value of the benefit to the Charity.

(g) Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the Charity will comply with conditions attaching to them and the grants will be received using the accrual model.

(h) Expenditure

Expenditure is recognised on an accruals basis in the period in which they are incurred.

Expenditure is allocated to the particular activity where the cost relates directly to that activity. Certain costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by personnel on those activities or, if not appropriate, in proportion to the income attributable to those activities.

YEAR ENDED 31 OCTOBER 2020 Page 18

1. ACCOUNTING POLICIES (continued)

(i) Costs of generating funds

Costs of generating funds incorporate the salaries, direct expenditure and overhead costs of the staff involved in raising voluntary income for the Chari ty’s use.

(j) Direct Charitable Costs

Direct charitable costs comprise those costs incurred in pursuing the charitable aims of the Charity. In particular they include the costs of delivering Hubbub Foundation UK ’s programmes to participators.

(k) Support costs

Support costs are those costs incurred by the Charity in development and support of its main activities and projects. These are absorbed within direct project costs as shown in Note 9. Support costs are allocated to the various charitable activities on the basis of the proportion of direct staff costs incurred by each activity.

(l) Governance Costs

Governance costs are those costs incurred in the management of the Charity's assets, organisation and compliance functions.

(m) Fund accounting

Funds held by the Charity can be:

Transfers between funds are made to cover deficits on individual restricted funds and to recognise fixed assets acquired with restricted income, but with no further restriction on use, within unrestricted funds.

(n) Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits in equal annual amounts over the period of the lease.

(o) Fixed Assets

Fixed assets are stated at cost less accumulated depreciation and impairment losses. Only assets over the value of £1,000 are capitalised.

Depreciation is calculated to write off the costs of the fixed asset by equal instalments as follows, all straight line:

Office equipment 33% / 25% SL

Where fixed assets are located within an unrestricted fund and are utilised on a temporary basis within a restricted fund the depreciation charge is apportioned between funds on a rational basis.

Impairment reviews are carried out annually on the net book value of fixed assets.

Fixed Assets under construction are stated at cost until the construction is complete and depreciated thereafter.

YEAR ENDED 31 OCTOBER 2020 Page 19

1. ACCOUNTING POLICIES (continued)

(p) Stock

Stocks are valued at the lower of cost and net realisable value.

(q) Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at banks.

(r) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(s) Estimates and judgements

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Trustees ’ best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Trustees do not consider there to be any material estimates and judgements.

(t) Financial instruments

Hubbub Foundation UK only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instruments.

Loans - Liabilities for borrowings which are subject to a market rate of interest are measured at the value of the amount advanced, less capital repayments

(u) Funds held on trust

The Foundation holds funds on trust for Waitrose from which small grants are made to charities, local authorities and community organisations in respect of the Plan Plastic campaign. The funds held on trust are recorded solely on the balance sheet, and will be fully distributed by the year ended 31 October 2021.

(v) Investments

Investments are recognised at market value.

(w) Gift Aid

Gift Aid payments payable from a wholly owned subsidiary to its parent charity are treated as a distribution and are recognised only when the physical payment is made.

Corporation tax relief arising on actual Gift Aid payments in the year and on those payments made by a wholly owned subsidiary of the charity that distributes undistributed reserves of the subsidiary within 9 months of the year end is recognised in the accounts in the year in which the underlying distributable profits arise.

YEAR ENDED 31 OCTOBER 2020 Page 20

2. DONATIONS AND LEGACIES 2020 2019
Total Total
£ £
Benevity - 5,276
Bunzl 25,000 25,000
EQ Foundation 15,000 -
Fittleworth 15,306 -
Groundwork Tesco - 2,000
Leeds University Rag 12,650 -
Other donations and grants 9,579 5,438
The Slaughter and May - 1,500
Starbucks 1,370,414 3,591,559
------------------------ ------------------------
1,447,949 3,630,773
============ ============
In addition to grants and donations, the Charity has relied on the support of volunteers.
3. IN KIND DONATIONS 2020 2019
Total Total
£ £
In Kind donations 5,500 73,392
=========== ===========
4. INCOME AND CHARITABLE ACTIVITIES 2020 2019
Total Total
£ £
Grants* 566,550 415,353
Charitable trading 556,062 863,813
Ballot bin sales 173,866 224,979
Trading contracts 148,543 172,081
---------------------- ----------------------
1,445,020 1,676,226
=========== ===========
*Grant income includes £17,500 (2019: £17,500) received from the Joseph Rowntree Charitable
Trust
5. OTHER INCOME 2020 2019
Total Total
£ £
Job Retention Scheme (furlough) 96,734 -
Gift aid - 47
---------------------- ---------------------
96,734 47
=========== ===========
6. RAISING FUNDS 2020 2019
Total Total
£ £
Staff costs 5,654 5,276
=========== ===========

YEAR ENDED 31 OCTOBER 2020 Page 21

7. CHARITABLE ACTIVITIES
CHARITABLE ACTIVITIES 2020 2019
Total Total
£ £
Staff costs 1,461,822 955,201
Other direct costs 1,338,394 1,779,302
Governance costs (note 8) 26,743 15,358
Staff support costs (note 9) 40,743 38,901
Direct support costs (note 9) 430,112 406,273
---------------------- ----------------------
3,297,814 3,195,035
============= =============

Staff support costs and other support costs have been allocated to charitable activities in proportion to direct staff costs of those activities.

8. GOVERNANCE COSTS

8. GOVERNANCE COSTS 2020 2019
Total Total
£ £
Audit fee 7,600 7,400
Other accountancy services 19,143 7,958
------------------- -------------------
26,743 15,358
========== ==========
9. SUPPORT COSTS 2020 2019
Total Total
£ £
Staff costs 40,743 38,901
Other support costs 430,112 403,273
--------------------- --------------------
470,855 445,174
=========== ==========

Other support costs includes PR & Press expenditure (£110,000, 2019: £115,102), Content and design expenditure (£41,496, 2019: £23,689), Marketing costs (£1,489, 2019: £9,940), and other administration expenses.

10. TAXATION

The company is a registered charity and it is considered that its activities and relationships are such that no corporation taxation liability will arise.

The subsidiary, Hubbub Foundation Enterprise Limited, has elected to make a gift aid payment to the parent within 9 months of the year end of these financial statements, Hubbub Foundation UK, which amounts to its profits of £35,991. As such the company has no taxable profits and therefore has £nil corporation tax due for the year ended 31 October 2020.

11. EMPLOYEE AND STAFF COSTS (GROUP & CHARITY) 2020 2019
Total Total
£ £
Wages and Salaries 1,295,498 859,487
Employer’s NIC 130,563 86,165
Employer’s pension 64,296 35,357
--------------------- -------------------
1,490,357 981,009
=========== ==========

YEAR ENDED 31 OCTOBER 2020 Page 22

11. EMPLOYEE AND STAFF COSTS (GROUP & CHARITY) cont.

The number of employees whose emoluments 2020 2019
for the year fell within the following bands were: Number Number
£60,001 - £70,000 3 0
£70,001 - £80,000 0 1
£80,001 - £90,000 1 0

The aggregate remuneration of key management personal of the Group and Charity was £364,051 (2019: £319,292).

The average number of staff employed by the Charity during the period was as The average number of staff employed by the Charity during the period was as follows:
Charitable activities - Direct project staff 37 25
========= =========

In addition to the above costs the Charity used consultants and agency staff to support the delivery of individual projects and for the provision of finance services. Consultancy & contract staff costs totalled £49,339 (2019: £14,024) during the period.

12. TANGIBLE FIXED ASSETS

Fishing Office
boats Equipment Total
£ £ £
GROUP TANGIBLE FIXED ASSETS
Cost
At 1 November 2019 12,000 40,375 52,375
Additions - 2,173 2,173
----------------- ----------------- -----------------
Balance at 31 October 2020 12,000 42,548 54,548
----------------- ----------------- -----------------
Accumulated depreciation
At 1 November 2019 12,000 21,670 33,670
Charge for the year - 8,650 8,650
----------------- ----------------- -----------------
Balance at 31 October 2020 12,000 30,320 42,320
----------------- ----------------- -----------------
Net Book Value
Carried forward at 31 October 2020 - 12,228 12,228
======== ======== =========
Brought forward at 1 November 2019 - 18,705 18,705
======== ======== =========

YEAR ENDED 31 OCTOBER 2020 Page 23

12. TANGIBLE FIXED ASSETS cont.

12. TANGIBLE FIXED ASSETS cont.
Fishing Office
boats Equipment Total
£ £ £
CHARITY TANGIBLE FIXED ASSETS
Cost
At 1 November 2019 12,000 34,843 46,843
Additions - 2,173 2,173
----------------- ----------------- -----------------
Balance at 31 October 2020 12,000 37,016 49,016
----------------- ----------------- -----------------
Accumulated depreciation
At 1 November 2019 12,000 19,629 31,629
Charge for the year - 7,327 7,327
----------------- ----------------- -----------------
Balance at 31 October 2020 12,000 26,956 38,956
----------------- ----------------- -----------------
Net Book Value
Carried forward at 31 October 2020 - 10,060 10,060
======== ======== =========
Brought forward at 1 November 2019 - 15,214 15,214
======== ======== =========
13. INVESTMENTS
£
CHARITY INVESTMENTS
Cost
At 1 November 2019 50,000
Movement -
-----------------
Balance at 31 October 2020 50,000
========
14. DEBTORS Group Charity
2020
2019		 2020 2019
Total
Total		 Total Total
£ £ £ £
Trade debtors 298,860
349,806		 252,182
318,360
Prepayments and accrued income 32,000
268,230		 31,218
267,587
VAT - 5,181 -
48
Other debtors 56,246 55,810 56,246
55,810
Group company - - 33,613
-
------------------
------------------		 ------------------
------------------
387,106
679,027		 373,259
641,805
==========
==========		 ========= ==========

YEAR ENDED 31 OCTOBER 2020 Page 24

15. CREDITORS

CREDITORS Group Group Charity Charity
2020 2019 2020 2019
Total Total Total Total
£ £ £ £
Amounts falling due within one year:-
Loans 56,136 145,000 56,136 60,000
Trade creditors 60,877 107,568 43,299 105,660
Taxation and social security 66,359 - 69,216 -
Accruals and deferred income 494,585 544,447 484,394 525,973
Other creditors 156,225 345,184 156,225 345,184
Group company - - - 7,205
--------------------- ------------------ --------------------- ----------------------
834,182 1,142,199 809,270 1,044,022
========== ========== ========== ===========
Amounts falling due after one year:-
Loans 333,864 - 333,864 -
========= ========== ========= ==========
Deferred income included in accruals and deferred income:-
Group Charity
2020 2019 2020 2019
£ £ £ £
Brought forward 544,447 242,269 525,973 242,269
Amount deferred in the year 277,562 544,447 284,645 525,973
Released to the Statement of Financial Activities (327,424) (242,269) (326,224) (242,269)
------------------ ------------------ ------------------ ------------------
Carried forward 494,585 544,447 484,394 525,973
========== ========== ========== ==========

16. CAPITAL

The company has no share capital, being limited by guarantee. There are 9 members of the company, each of whom has undertaken to contribute £1 in the event of the company being wound up.

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Designated Restricted Total
Funds Funds Funds Funds
£ £ £ £
Fixed assets 12,228 - - 12,228
Cash 1,819,326 1,339,124 240,205 3,398,655
Other current assets 423,357 - - 423,357
Current liabilities (469,424) (146,182) (218,576) (834,182)
Non-current liabilities (333,864) - - (333,864)
------------------------ ----------------------- -------------------- ------------------------
Total net assets 1,451,623 1,192,942 21,629 2,666,194
=========== =========== ========= ===========

YEAR ENDED 31 OCTOBER 2020 Page 25

18. MOVEMENT IN FUNDS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance|Balance| |at|at| |1 Nov|Income|Expenditure|Transfers|31 Oct| |2019|2020| |£|£|£|£|£| |City of London: Plastic Fishing|-|20,000|(17,711)|-|2,289| |Coca-Cola: Treasure Your Rivers|-|15,306|(47,290)|31,984|-| |Coca-Cola: Dublin/In The Loop|-|-|-|-|-| |Wates Family Foundation|-|11,364|-|-|11,364| |Joseph Rowntree Charitable Trust:| |-|17,506|(17,658)|152|-| |Love Where You Live| |North London Waste Authority|1,512|-|(1,512)|-|-| |TK Maxx: Pioneering Plastics|20,000|50,000|(70,220)|220|-| |City Bridge Trust|-|10,000|(29,771)|19,771|-| |Telefonica|-|10,000|(10,000)|-|-| |Food Connect|-|28,000|(28,214)|214|-| |-| |Community Fridges:| |Big Lottery|18,175|18,175|(36,359)|9|-| |Morrison’s Foundation|-|-|(8,942)|8,942|-| |Rothschild Foundation|-|26,079|(18,103)|-|7,976| |--------------------|----------------------|-------------------------|---------------------|---------------------| |Total Restricted funds|39,687|206,430|(285,780)|61,292|21,629| |Unrestricted funds|2,184,948|1,854,112|(2,526,145)|(61,292)|1,451,623| |Designated funds|744,485|940,000|(491,543)|-|1,192,942| |---------------------|----------------------|-------------------------|--------------------- ----------------------| |Total funds|2,969,120|3,000,542|(3,303,468)|-|2,666,194| |==========|==========|============ ========== ==========|

----- End of picture text -----

A comparative movement in funds note has been provided in note 26.

Purposes of Restricted Funds:

– City of London Plastic fishing

This 3 year grant has been given to fund Plastic Fishing trips with London schools. The project includes constructing boats for taking fishing trips onto the Thames Docklands Basin with the aim to gather the plastic in the river, and raise awareness for the environmental issues surrounding plastic waste.

Coca-Cola – Treasure Your Rivers

This fund, financed by the Coca-Cola Foundation, has enabled Hubbub to set up the Treasure Your River campaign which is a collaborative project to remove litter from 5 of the UK’s main rivers.

Coca-Cola – Dublin/In The Loop

This fund, financed by the Coca-Cola Foundation, has enabled Hubbub to set up a collaborative campaign which will set up on-street recycling facilities across Dublin city centre.

Wates Family Foundation

Funds the research, development and implementation of community-based urban greening projects in Manchester.

Joseph Rowntree Charitable Trust – Love Where You Live

This is a 3 year project that aims to test different ways of creating more sustainable local communities through sharing resources and building social capital. This includes creating spaces and opportunities for social interaction and exchange.

This grant enabled Hubbub to test approaches to engaging young people in North London on how they can extend the lifespan of their clothing, keeping clothing out of landfill.

TK Maxx – Pioneering Plastics

This fund, financed by TK Maxx, has enabled Hubbub to set up Plastic Pioneers, which is helping schools across the UK to go single-use plastic free.

YEAR ENDED 31 OCTOBER 2020 Page 26

– City Bridge Trust and Telefonica Community Calling

Funds our ambition to collect, refurbish and distribute 10,000 smartphones to digitally isolated citizens in six UK cities, along with support, training and information.

Food Connect

The fund, financed by a loan from CAF Venturesome and support from Bosch and Big Lottery, has enabled Hubbub to pilot a zero-carbon surplus food redistribution pilot in Milton Keynes.

Big Lottery, the Morrison’s Foundation and Rothschild Foundation

Funds the set-up, maintenance and running of community fridges for up to a year. These fridges are designed to help families feed themselves and become more aware of food waste issues.

Purposes of Designated Funds:

Starbucks designated

During the year, the Trustees opted to designate a further £940,000 of the income received from the Starbucks 5p donations. This was part of the agreement with Starbucks, to designate £1 million over the next year to fund innovation towards environmental initiatives, particularly those looking to reduce plastic pollution, shift society towards a culture of reuse and achieve the recycling of take-away coffee cups. During the year, £311,543 had been awarded as grants to organisations that are investing and researching in the process to recycling disposable cups. At the year end, there was £212,656 remaining to be issued to organisations for recycling schemes.

Waitrose

In 2019 Hubbub entered an agreement with Waitrose to distribute funds as grants on their behalf. During the year end 31 October 2020 a total of £852,481 (2019: £947,201) had been distributed to recipients determined by Waitrose as the second instalment of the grant payments. Subsequent and final payments are to be made in the proceeding accounting year totalling £94,720.

19. COMMITMENTS UNDER OPERATING LEASES

At 31 October the company had total commitments under non-cancellable operating leases as At 31 October the company had total commitments under non-cancellable operating leases as At 31 October the company had total commitments under non-cancellable operating leases as
set out below. Land and Buildings
2020 2019
£ £
Payable:
Within one year 46,578 90,707
Within two to five years - -
------------------- -------------------
46,578 90,707
========= =========

20. TRADING SUBSIDIARY

Hubbub Foundation UK owns 100% of the share capital of Hubbub Foundation Enterprise Limited.

During the year Hubbub Foundation UK received income from Hubbub Foundation Enterprise Limited relating to recharged salary and pension costs of £297,395 (2019: £186,962) and recharged rental costs of £11,928 (2019: £11,928).

During the year Hubbub Foundation UK paid Hubbub Enterprise Limited direct project costs of £282,444 (2019: £359,234).

At 31[st] October 2020 the Hubbub Foundation UK balance sheet included the following balances relating to Hubbub Foundation Enterprise Limited:

elating to Hubbub Foundation Enterprise Limited:
2020 2019
£ £
Intercompany (creditor) / debtor 33,613 (7,205)
Trade debtors - 12,982
Deferred income (80,556) -

YEAR ENDED 31 OCTOBER 2020 Page 27

21. NET RESULTS OF TRADING SUBSIDIARY

The charity has a wholly owned trading subsidiary, Hubbub Foundation Enterprise Limited which is a private company, limited by shares, registered in England and Wales, registration number 08910364. The registered office is the same as that of the charity.

Hubbub Foundation Enterprise Limited sells environmental services and products to business and Government, including communications and campaign services. A summary of the results of Hubbub Foundation Enterprise Limited is shown below.

2020 2019
Profit & Loss £ £
Turnover 604,853 733,638
Cost of sales (275,262) (304,919)
---------------------- ---------------------
Gross profit 329,591 428,719
Administrative expenses (318,479) (211,402)
Other income 25,344 -
--------------------- --------------------
Operating profit/(loss) 36,456 217,317
Interest payable and similar expenses (1,883) (5,283)
--------------------- ---------------------
Profit/(loss) for the year 34,573 212,034
========== ==========
Balance Sheet
Fixed Assets 2,168 3,491
Current Assets 227,488 377,748
Current Liabilities (141,939) (118,364)
------------------- -------------------
87,717 262,875
========= =========
Called up share capital 50,000 50,000
Profit & loss account 37,717 212,875
------------------- -------------------
Net Assets 87,717 262,875
========= =========

22. TRUSTEES’ REMUNERATION AND EXPENSES

None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity for the year ended 31 October 2020 nor 31 October 2019.

No trustee expenses have been reimbursed for the year ended 31 October 2020 nor 31 October 2019.

23. RELATED PARTY TRANSACTIONS

During the year, the Charity paid £25,506 (2019: Nil) to Grant Taylor for film-making services. Grant Taylor is the husband of Heather Poore, a director of Hubbub Foundation Enterprise Limited.

During the year the Charity received £5,500 plus VAT (2019: paid £10,500 plus VAT) from Britain Thinks, an organisation owned by Victoria Cooke, in respect of research services paid in the prior year for work that could not be completed.

YEAR ENDED 31 OCTOBER 2020 Page 28

24. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES THE YEAR ENDED 31 OCTOBER 2019

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted|Designated|Restricted|Total funds| |Funds|Funds|Funds|2019|2018| |£|£|£|£|£| |Income from:| |Donations and legacies|3,150,123|480,650|-|3,630,773|966,513| |Investments|4,430|-|-|4,430|1| |Donated Services|73,392|-|-|73,392|-| |Charitable activities|1,291,709|-|384,517|1,676,226|1,442,324| |Other income|47|-|-|47|-| |-----------------------|----------------|--------------------|---------------------|---------------------| |Total income|4,519,701|480,650|384,517|5,384,868|2,408,838| |-----------------------|----------------|--------------------|---------------------|----------------------| |Expenditure on:| |Raising funds|5,276|-|-|5,276|7,122| |Charitable activities|2,337,693|390,325|467,017|3,195,035|1,773,330| |----------------------|------------------|--------------------|---------------------|---------------------| |Total expenditure|2,342,969|390,325|467,017|3,200,311|1,780,452| |-----------------------|------------------|--------------------|---------------------|---------------------| |Net income/(expenditure)|2,176,732|90,325|(82,500)|2,184,557|628,386| |Transfers between funds|(381,925)|284,160|97,765|-|-| |---------------------|-------------------|-------------------|-------------------|----------------| |Net movement in funds|1,794,807|374,485|15,265|2,184,557|628,386| |---------------------|-------------------|-------------------|-------------------|----------------| |Funds at 1 November|390,141|370,000|24,422|784,563|156,177| |---------------------|------------------|------------------|---------------------|---------------------| |Funds at 31 October|2,184,948|744,485|39,687|2,969,120|784,563| |==========|========|======== ==========|==========|

----- End of picture text -----

25. COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS FOR YEAR ENDED 31 OCTOBER 2019

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Designated|Restricted|Total| |Funds|Funds|Funds|Funds| |£|£|£|£| |Fixed assets|18,705|-|-|18,705| |Cash|1,971,333|1,030,718|367,935|3,369,986| |Other current assets|665,272|50,000|7,356|722,628| |Current liabilities|(470,362)|(336,233)|(335,604)|(1,142,199)| |Non-current liabilities|-|-|-|-| |----------------------|----------------------|----------------------|----------------------| |Total net assets|2,184,948|744,485|39,687|2,969,120| |==========|==========|==========|==========|

----- End of picture text -----

YEAR ENDED 31 OCTOBER 2020 Page 29

26. COMPARATIVE MOVEMENT IN FUNDS FOR YEAR ENDED 31 OCTOBER 2019

Balance at Balance at
1 Nov Income Expenditure Transfers 31 Oct
2018 2019
£ £ £ £ £
City of London: Plastic Fishing - 23,500 (40,416) 16,916 -
Coca-Cola: Treasure Your
Rivers		 - 86,012 (86,012) - -
Coca-Cola: Dublin/In The
Loop		 - 17,500 (17,500) - -
Greater London Authority:
Give It A Grow		 - 36,000 (96,110) 60,110 -
Joseph Rowntree Charitable
Trust: Love Where You Live		 - 17,500 (34,982) 17,482 -
North London Waste
Authority: Waste prevention		 14,272 7,095 (19,855) - 1,512
TK Maxx: Pioneering Plastics - 70,000 (50,000) - 20,000
Community Fridges:
Big Lottery - 65,425 (48,170) 920 18,175
Morrison’s Foundation 10,150 27,500 (37,782) 132 -
Rothschild Foundation - 33,985 (36,190) 2,205 -
-------------------- -------------------- ----------------------- --------------------- ---------------------
Total Restricted funds 24,442 384,517 (467,017) 97,765
39,687
Unrestricted funds 390,141 4,519,701 (2,342,969) (381,925) 2,184,948
Designated funds 370,000 480,650 (390,325) 284,160 744,485
----------------------- ----------------------- ------------------------ ----------------------- -----------------------
Total funds 784,563 5,384,868 (3,200,311) - 2,969,120
=========== =========== =========== =========== ===========