2020-12-31-accounts

Company registration number: 9017447 Charity registration number: 1159320

TheGivingMachine

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2020

Hopper & Co Chartered Accountants & Registered Auditors 6 Doagh Road Ballyclare Co Antrim BT39 9BG

TheGivingMachine

Contents

Reference and Administrative Details	1
Trustees' Report	2 to 4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7 to 8
Notes to the Financial Statements	9 to 19

TheGivingMachine

Reference and Administrative Details

Trustees Mr M Rogers Mr R D P Purcell Ms C J Hartnell Ms R E Williamson Mr P M Butterworth Senior Management Team Mr R Morris, CEO Principal Office 14A Grange Park Bishop's Stortford Hertfordshire CM23 2HX The charity is incorporated in England. Company Registration Number 9017447 Charity Registration Number 1159320 Independent Examiner Hopper & Co Chartered Accountants & Registered Auditors 6 Doagh Road Ballyclare Co Antrim BT39 9BG

Page 1

TheGivingMachine

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2020.

Trustees

Mr M Rogers

Mr R D P Purcell

Mr P J Lewis (resigned 18 February 2020) Ms G Scarles (Resigned 16 February 2021)

Ms C J Hartnell (appointed 18 February 2020)

Ms R E Williamson (appointed 18 February 2020)

Mr P M Butterworth (appointed 18 February 2020)

Objectives and activities

Objects and aims

The charity's objectives are to enable giving to be an inclusive behaviour choice for everyone who buys online to generate free donations for the UK based charitable causes of their choice.

Public benefit

To promote the efficiency and effectiveness of charities, not for profit organisations and voluntary organisations in particular, but not exclusively, by promoting charitable giving through giving services which apply technology and behavioural science, providing training, advice and support to charities in the use of communication media and promoting volunteering by donors and prospective donors to charities for the public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Going concern

In March 2020 the charity took steps (in line with government advice) to help contain the outbreak of COVID-19. This meant that the charity has had to slightly curtail, or change, how it operates; the charity has been able to continue the bulk of its activities using online services.

The Covid crisis may accelerate the fall in some of our income. Our ability to survive the crisis will rely on adapting quickly to this fall in income while striving to build and find alternatives and doing all we can to be ready for any economic bounce back.

At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing these financial statements. The charity has a net liabilities position at the year end but the trustees remain confident that sufficient resources will be available as debt finance to fund any shortfalls.

Structure, governance and management

Nature of governing document

The Charity's governing document is the Memorandum and Articles of Association. In the event of the company being wound up Trustees are required to contribute £1.

Page 2

TheGivingMachine

Trustees' Report

Recruitment and appointment of trustees

Under the requirements of the Memorandum and Articles of Association the Trustees of the Charity are elected to serve for a period of up to three years after which they must be re-elected.

The Charity seeks to ensure that Trustees with a range of experience from within the business profession serve on the Board. In the event of particular skills and experience being lost due to retirement, individuals are approached to offer themselves for election to the Charity.

Trustees can serve up to 3 terms of 3 years after which they must stand down.

Induction and training of trustees

Most Trustees are familiar with the role of the charity through their Trusteeship of the charity. New Trustees are provided relevant information and are briefed on their legal obligations and responsibilities as Trustees of a charity

Organisational structure

The Charity is managed and directed by its Trustees. Once Trustees are elected, they serve for up to a term of 3 years and meet at least four times a year. Trustees can serve up to 3 terms of 3 years after which they must stand down.

Major risks and management of those risks

Risk Management

The Charity has a risk management strategy in place which comprises an annual review of the major risks to which the charity is exposed, in particular those related to the operations and finances of the company, and the establishment of systems and procedures to mitigate those risks

The Trustees are satisfied that systems are in place to mitigate exposure to the major risks. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rates to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash.

The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Page 3

TheGivingMachine

Trustees' Report

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of Accounting Policies in the financial statements.

Funds held as custodian trustee on behalf of others

Included within current assets and creditors are amounts relating to beneficiary allocations held by the charity.

These amounts have been ring-fenced by the trustees and may be paid in line with the charity's policy on charitable payments.

The trustees (who are also the directors of TheGivingMachine for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. 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 incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company'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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the small companies' regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 13 July 2021 and signed on its behalf by:

......................................... Mr M Rogers Trustee

Page 4

TheGivingMachine

Independent Examiner's Report to the trustees of TheGivingMachine

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 6 to 19.

Respective responsibilities of trustees and examiner

As the charity’s trustees of TheGivingMachine (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of TheGivingMachine are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since TheGivingMachine's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Chartered Accountants Ireland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of TheGivingMachine as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... S Hopper FCA Chartered Accountants & Registered Auditors Chartered Accountants Ireland

6 Doagh Road Ballyclare Co Antrim BT39 9BG

14 July 2021

Page 5

TheGivingMachine

Statement of Financial Activities for the Year Ended 31 December 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

			Unrestricted	Unrestricted		Total
			funds			2020
	Note		£			£
Income and Endowments from:
Donations and legacies		3	35,403			35,403
Charitable activities		4	248,510			248,510
Investment income		5	152			152
Other income			4			4
Total income			284,069			284,069
Expenditure on:
Charitable activities		6	(299,337)			(299,337)
Total expenditure			(299,337)			(299,337)
Net expenditure			(15,268)			(15,268)
Net movement in funds			(15,268)			(15,268)
Reconciliation of funds
Total funds brought forward			(454,827)			(454,827)
Total funds carried forward	18		(470,095)			(470,095)
			Unrestricted			Total
			funds			2019
	Note		£			£
Income and Endowments from:
Donations and legacies	3		23,988			23,988
Charitable activities	4		258,138			258,138
Investment income	5		72			72
Total income			282,198			282,198
Expenditure on:
Charitable activities	6		(365,759)			(365,759)
Total expenditure			(365,759)			(365,759)
Net expenditure			(83,561)			(83,561)
Net movement in funds			(83,561)			(83,561)
Reconciliation of funds
Total funds brought forward			(371,266)			(371,266)
Total funds carried forward	18		(454,827)			(454,827)

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 18.

The notes on pages 9 to 19 form an integral part of these financial statements. Page 6

TheGivingMachine

(Registration number: 9017447) Balance Sheet as at 31 December 2020

		2020		2019
	Note	£		£
Fixed assets
Intangible assets	12	52,031		65,037
Tangible assets	13	23,993		46,124
		76,024		111,161
Current assets
Debtors	14	410		2,140
Cash at bank and in hand	15	52,551		21,283
		52,961		23,423
Creditors: Amounts falling due within one year	16	(53,616)		(50,983)
Net current liabilities		(655)		(27,560)
Total assets less current liabilities		75,369		83,601
Creditors: Amounts falling due after more than one year	17	(545,464)		(538,428)
Net liabilities		(470,095)		(454,827)
Funds of the charity:
Unrestricted income funds
Unrestricted funds		(470,095)		(454,827)
Total funds	18	(470,095)		(454,827)

For the financial year ending 31 December 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The notes on pages 9 to 19 form an integral part of these financial statements. Page 7

TheGivingMachine

(Registration number: 9017447) Balance Sheet as at 31 December 2020

The financial statements on pages 6 to 19 were approved by the trustees, and authorised for issue on 13 July 2021 and signed on their behalf by:

......................................... Mr M Rogers Trustee

The notes on pages 9 to 19 form an integral part of these financial statements. Page 8

TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 14A Grange Park Bishop's Stortford Hertfordshire CM23 2HX

These financial statements were authorised for issue by the trustees on 13 July 2021.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

TheGivingMachine 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 notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 9

TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s' meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Goodwill

Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

Asset class Goodwill

Amortisation method and rate

10% Straight Line

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate IT Systems 25% Straight Line Fixtures & Fittings 25% Straight Line Computers 25% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

3 Income from donations and legacies

		Unrestricted
		funds		Total
		General		funds
		£		£
Donations and legacies;
	Donations from individuals	35,403		35,403
Total for 2020		35,403		35,403
Total for 2019		23,988		23,988
4	Income from charitable activities
		Unrestricted
		funds		Total
		General		funds
		£		£
	Charitable Activities	248,510		248,510
Total for 2020		248,510		248,510
Total for 2019		258,138		258,138
5	Investment income
		Unrestricted
		funds		Total
		General		funds
		£		£
Interest receivable and similar income;
	Interest receivable on bank deposits	152			152
Total for 2020		152			152
Total for 2019		72			72

6 Expenditure on charitable activities

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

		Unrestricted
		funds		Total
		General		funds
	Note	£		£
Charitable Activities		234,459		234,459
Depreciation, amortisation and other similar costs		35,137		35,137
Allocated support costs	7	27,741		27,741
Governance costs	7	2,000		2,000
Total for 2020		299,337		299,337
Total for 2019		365,759		365,759

Total expenditure £

In addition to the expenditure analysed above, there are also governance costs of £2,000 (2019 - £2,000) which relate directly to charitable activities. See note 7 for further details.

7 Analysis of governance and support costs

Governance costs

	Unrestricted
	funds		Total
	General		funds
	£		£
Independent examiner fees
Examination of the financial statements	2,000		2,000
Total for 2020	2,000		2,000
Total for 2019	2,000		2,000

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

8 Net incoming/outgoing resources

Net outgoing resources for the year include:

			2020		2019
			£		£
Depreciation	of	fixed assets	22,131		38,676
Amortisation	of	goodwill	13,006		13,006

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

10 Independent examiner's remuneration

Examination of the financial statements

2020		2019
£		£
2,000		2,000

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Intangible fixed assets

12 Intangible fixed assets
	Goodwill		Total
	£		£
Cost
At 1 January 2020	130,067		130,067
At 31 December 2020	130,067		130,067
Amortisation
At 1 January 2020	65,030		65,030
Charge for the year	13,006		13,006
At 31 December 2020	78,036		78,036
Net book value
At 31 December 2020	52,031		52,031
At 31 December 2019	65,037		65,037

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

Development costs

Development costs have been capitalised in accordance with FRS 102 Section 18 Intangible Assets other than Goodwill and are therefore not treated as a deficit to the charity.

13 Tangible fixed assets

13 Tangible fixed assets
		Furniture and
		equipment				Total
		£				£
Cost
At 1 January 2020		402,256				402,256
At 31 December 2020		402,256				402,256
Depreciation
At 1 January 2020		356,132				356,132
Charge for the year		22,131				22,131
At 31 December 2020		378,263				378,263
Net book value
At 31 December 2020		23,993				23,993
At 31 December 2019		46,124				46,124
14 Debtors
		2020				2019
		£				£
Trade debtors		410				2,140
15 Cash and cash equivalents
		2020				2019
		£				£
Cash at bank		52,551				21,283
16 Creditors: amounts falling due within one year
		2020				2019
		£				£
Trade creditors		6,722				7,681
VAT		9,407				5,832
Other creditors		34,979				32,893
Accruals		2,508				4,577
		53,616				50,983

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TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

17 Creditors: amounts falling due after one year

		2020		2019
		£		£
Other	loans	545,464		538,428

Included within borrowings is an amount of £250,000 (2019: £250,000). The repayment terms for this loan have not been set and interest is not accruing on it.

Included within borrowings is an amount of £26,000 (2019: £26,000). The repayment terms are £8,000 per annum and interest is not accuring on it, repayment was waived in 2020.

Included within borrowings is an amount of £105,807 (2019: £102,428). The repayment terms for this loan have not been set and interest is accruing at a rate of 3% over UK base rate per annum.

Included within borrowings is an amount of £163,657 (2019: £160,000). The repayment terms have been calculated so as to ensure that the loan is repaid on an increasing scale basis and in full by 30 November 2023. The first repayment was due in February 2020. Interest is accuring on the loan in arrears and at a maximum rate of 9% per annum. The loan is secured by a first ranking debenture creating a fixed and floating charge over all assets of the charity, a legal assignment over a key man life policy and a legal assignment over TheGivingMachine trademark.

18 Funds

							Balance at 31
	Balance at 1		Incoming		Resources		December
	January 2020		resources		expended		2020
	£		£		£		£
Unrestricted
General
General	(454,827)		284,069		(299,337)		(470,095)
							Balance at 31
	Balance at 1		Incoming		Resources		December
	January 2019		resources		expended		2019
	£		£		£		£
Unrestricted funds
General
General	(371,267)		282,198		(365,758)		(454,827)

Page 18

TheGivingMachine

Notes to the Financial Statements for the Year Ended 31 December 2020

19 Analysis of net assets between funds

19 Analysis of net assets between funds
	Unrestricted		Total funds at
	funds		31 December
	General		2020
	£		£
Intangible fixed assets	52,031		52,031
Tangible fixed assets	23,993		23,993
Current assets	52,961		52,961
Current liabilities	(53,616)		(53,616)
Creditors over 1 year	(545,464)		(545,464)
Total net assets	(470,095)		(470,095)
	Unrestricted		Total funds at
	funds		31 December
	General		2019
	£		£
Intangible fixed assets	65,037		65,037
Tangible fixed assets	46,124		46,124
Current assets	23,423		23,423
Current liabilities	(50,983)		(50,983)
Creditors over 1 year	(538,428)		(538,428)
Total net assets	(454,827)		(454,827)

20 Analysis of net funds

20 Analysis of net funds
					At 31
	At 1 January		Financing cash		December
	2020		flows		2020
	£		£		£
Cash at bank and in hand	21,283		31,268		52,551
Net debt	21,283		31,268		52,551
					At 31
	At 1 January		Financing cash		December
	2019		flows		2019
	£		£		£
Cash at bank and in hand	50,057		(28,774)		21,283
Net debt	50,057		(28,774)		21,283

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