Registered number: 08834979 Charity number: 1163026 WE ARE FAMILY FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 A4E24rKY COMPANIES HOUSE
WE ARE FAMILY FOUNDATION IA company limited by guarantee) CONTENTS Page Refértnce and administr•tive details of the tompJnyN its trustets and advisers Trustees. report Independent examiner's report statement of financial a¢tivitie$ Balance sheet Notes to the financial Statements 7- 11
. WE ARE FAMILY FOUNDATION. IA ¢ompany limited by guarnnte•l REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020 Trustees N G Rodgers M A Barondess NLHunt I Cervellera Michell D Feigelson D R Saddington J D Montgomery Vsshah Company registered number 08834979 Charity re9lStered number 1163026 •giSterad offke Elsley Court. 20 - 22 Great Titchfield Street, London, WIW 8BE Accountant SRLV LLP. E151ey Court. 20 - 22 Great Titchfield Street. London, WIW 8BE Page I
WE ARE FAMILY FOUNDATION (A company limiied by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees present their annual report together with the financial statements of the We Are Family Foundation for the year l January 2020 to 31 December 2020. The Trustees confirm that the annual report and financial statements of the charitable company Comply with the current statutory requirements, the ouirements of the charitable company'5 governing document ènd the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republie of Ireland {FR51021 (effective l January 20191. Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report qUId of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) RegulatnS 2013 is not requId. Objectives and actlvitles . Pollcles and objectlves The company's objertives are specifically restrirted to promotin9 equality. diversity and peace for the publi¢ benefit through the vision ol a global family. b. Activities for achlevSn9 objectrves The company's objettives are achleved by: {al Creattng and SLtPPgrting programmes that inspire and educate the next generation about peace, respect, understanding and cultural diversity. {bl Promoting activities to foster understandin9 between people from diverse backgrounds. (t} Cultivating a serttiment in favour of respert, understarbding and cultural diversity through the vision of global family. (d) Working to eliminate discrimination on grounds of race, gender. disability. sexual orientation or religlon Achievements and performance a. Review ot artivities Dur6ng the year. the company received dortations of £211.816 {2019 - £116,121). As at 31 Oecember 2020, there were unrestricted re5erve5 of £25,460 {2019 - E87.064). The unrestricted reserves are available for use at the diKretion of the trustees in furtherance of the general objectives of the Company and which have not been des19nated for other purpose5. Financlal review . Golng <0C•M After makin9 appropriate enquiries. the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they contlnue to adopt the going concern ba515 tn preparing the financial 5tstements. Further details regarding the adoption of the going concern basis Can be ftjund in the accounting policies. Page 2
WE ARE FAMILY FOUNDATION. (A Company fimited by guarantee) TRusfEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 b. Reserves policy It 15 the policy of the charity that Unstrirte fvnds of £5,000 which have not been designated for a speclfi use should be maintained at a level eqvivalent to between three and six month5. expenditure. The Trustees consider that reserves at this level will ensure that. in the event of a significant drop in funding, they will be able to ¢ontinue the charity'5 current activities while considerats'on 15 given to ways in which addltional funds may be raised. This level of reserves has been maintained throughout the period. struCe• 9overnance and m•hagtment . Method5 of appointment or electlon of Trustees The management of the company is the responsibility of the Trustees who are elected )nd co-opted under the terms of the Memorandum of Association. b. Oryanisational structure and decis40n-makln9 policies The Trustees are appointed in accordance with the articles of )$50cation and make all major declsions of the charlty. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute ÉS in the event of a witNlin9 UP. The Trustees have assessed the major risks to which the company 15 exposed, and are satisfied that systems are in place to mitl9ate exposure to the major risks. Funds held 4$ custodian No funds are held as a custodian. Approved by order of the members of the board of Trustees on ar signed on thelr behalf by.. NLHunt Trustee 22 September 2021 Page 3
WE ARE FAMILY FOUNDATION IA Company Itmited by guarantsel INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Independent Examiner's report to the Trust•es of We Ar• Family Foundation {'the tharity.) I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2020. RespoTh$ibilities and b•$4$ of report As the Trustees of the company {and its dirertor5 for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companres Act 2006 ('the 2006 Art').[ report in respert of my examination of the company's accounts tarried out under sertion 145 of the Charities Art 2011 I'the 2011 Art'l. In carrying out my examination I have followed the Directions glven by the Charity Commission under section 145{5){b) of the 2011 Art. Independent Examiner's statement Your attention is drawn to the fact that the charity has prepared the actounts 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 the UK and Republic of Ireland {FRS 1021 in prefence to the Accountin9 and Reporting by Charities.. Statement" of Recommended Practi 155ued on l April 2005 which is ferred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effettive for reporting periods beginning on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection wlth the exarnination giving me cause to believe that in any material respert= accounting records were not kept in respert of the company as requlred by sectiot) 386 of the 2006 Art; or the accounts do not accord with those records- or the accounts do not comply with the accounting requiremerbts of sertion 396 of the 2006 Act other than any requirement that the accounts 9ive a 'true and fairf view which is not a matter consided as part of an independent examination. or I have no toncerns and have come across no other matters in connertion with the examination to which attention should be drawn in this pOrt in order to enable a proper understanding of the accounts to be reached. Use of our report This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been untlertaken so that I might state to the charity's Trustees those matters l am required to state to them in an Independent Examiner'5 report and for no other purpose. To the fullest extent pemiitted tsy law. I do not accept or assume responsibility to anyone other than the company and the charity's Trustees as a body. for my work or for this report. Richard Gilbert For arbd on behalf of SRLV Audit Limited Chartered Accountants Elsley Court 20-22 Great Titchfield Street London WIW 88E £duJ 23 September 2021 Page 4
WE ARE FAMILY FOUNDATION (A company limited by guarantsel . STATEMENT OF FINANCIAL ACTivrrIES INCORPORATING ZNCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestricted fuo)ds 2020 Total funds 2020 Total funds 2019 Note Income from.. Donations and lega¢ies 211.816 211,816 116,121 Totsl income Expendithre on: Charitable activites 211,816 211,816 116,121 266.994 6,426 266,994 6,426 30,329 13,728 Support costs Total •xpenditure 273.420 273.420 44,057 Net rnovement In funds RKonciliation ot funds: Total funds brought forward Net movement In funds (61.604) {61,604) 72,064 87.064 (61,604) 87,064 (61,604) 15.000 72,064 Totsl fund$ carried loThYard 25.460 25,460 87,064 The notes on pages 7 to 11 form part of these finanoal statements. Page 5
WE ARE FAMILY FOUNDATION . (A company limited by guarantee} REGlStERED NUMBER: 08834979 BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 Note Currenl assets Cash at bank and in hand 57,868 109,310 57,868 109,310 Creditor5- amounts fallin9 due within one year {32.408) (22,2461 Net currènt assets 25,460 87,064 Totsl assets less current Ilabllities 25.460 87,064 Total net assets 25,460 87,064 Charity funds Restricted fvnds Unrestricted funds 25,460 87,064 Total funds 25,460 87,064 The company was entitled to exemption from audit under settion 477 of the Companles Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustee5 acknowledge their responsibilities for complying with the requirements of the Act with respert to accounting records and preparation of financial statements. The financial statements have been pPared in accordance with the provislons applicable to entities subjert to the 5rnall companles regime. The financial statements and signed on their behalf by: were approved and authodsed for issue by the Trustees on N L Hunt {Trusteej 22 Seplernber 2021 Page 6
WE ARE FAMILY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accourbtln9 policie5 1.1 Basls of preparation of fin•nciwl statements The financial statements have been prepared in accordance with the Chèrities SORP {FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applScable to chatIeS preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effertive l January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. We Are Famlly Foundation rneetg the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at histortcal cost or transartion value unless otherwise stated in the levant accounting pollcy. 1.2 Company status The cornparby is a cornpany limited by guarantee. The mernber5 of the company are the Trustee5 nametj on page l. In the event of the company being wound up. the liability In respect of the guarantee is limited to £S per member of the company. 1.3 Income All Income Is recognised once the company has entitlement to the income. It Is probable that the income wlll be received and the amount of income receivable can be measured reliably. 1.4 Expendlture Expenditure is recogni5ed once there is a legal or constrvrtive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation tan be measured reliably. Expenditure is classified by activity. The Costs of each attivity are made up of the total of direct Costs and shared costs, including support costs involved in undertaking eath activity- Dirert costs attributable to a sSn9le actSvity are allocated direttiy to that artivity. Shared costs which contribute to more than one activity and support costs whith are not attributable to a single actlvity are apportloned between those activities on a basis corbsistent with the use of resources. Central staff costs are allocated on the basis of tome spent. and depreciation char9es allocated on the portion of the asset's use. Expenditure on charitable attivities is inoJrretd on directly undertaking the actlvlties which fvrther the company's objectives, as well as any associated 5UPPOrt costs. 1.5 Cash at bank and In hand Cash at bank and in hand indudes cash and short-term highly liquid investments with a short maturity of three months or le55 from the date of acquisition or opening of the deposlt or similar account. Page 7
WE ARE FAMILY FOUNDATION {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting pollcies (continued) 1.6 Liabilities and provisions Liabilitie5 are recognised when there is an obligatKJn at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amourbt of the settlement can be estsmated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provlsions are measu at the best estimate of the amounts requireij to settle the obligation. Where the effett of the tiwne value of money is material, the provisbon is based on the present value of those arnounts, discounted at the pre-tax discount rate that reflects the risks specific to the 1SabS1ity. The unwinding of the discount is recognised withln interest payable and similar charges. 1.7 Financial irbStNments The compèny only has financial assets and finanoal liabilities of a kind that qtlalify as basic financial instruments. Basic financial instwments are initially recognised at transattion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amort15ed Cost using the effertive interest method. 1.8 Fund accounting General funds are unrestritted funds which are available for use at the discretion of the Trustees n furtherance of the general objectives of the company and which have not been designated for other purposes. Page 8
WE ARE FAMILY FOUNDATION IA company limit•d by guarnntee) NOTES TO THE FINANCZAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Income from donatlons Vnre$trlrted Total funds funds 31112120 31112120 Donations 211.816 211,816 Unrestricted funds 31112119 Total funds 31112119 Donations 116.121 116,121 Net income / {expenditur•) During the year. no Trustee received any remunerntion, benefits in kind or reimbursement of expenses12019 - ENLL). Expenditure on rabing lunds Vnrestricttd tunds 2020 Total funds 2020 Other charitable activities 138,654 128,340 138,654 128,340 Donations to institutions 266,994 266,994 Page 9
WE ARE FAMILY FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Expenditure on raising funds (continued) {contlnued) Unrestricted funds 2019 Total funds 2019 Other charitable athvities 3,397 26,932 3,397 26,932 Donatlons to institutions 30,329 30,329 Support costs Unrestrirted funds 1020 Total funds 2020 Overheads ttssts Governance costs 5,986 440 5,986 440 6,426 6,426 Unrestricted funds 2019 Total funds 2019 Overheads costs Governance costs 11,982 1,746 11,982 1,746 13,728 13,726 Page ID
WE ARE FAMILY FOUNDATION IA company limited.by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Credltors: Amounts falllng due wlthin one year 2020 2019 other creditors Actruals 22,918 9,490 17,746 4,500 32.408 22,246 Statement of funds Balance at 31 December 2020 Balance at l January 2020 Income Expenditure Unrestrirted funds General Funds - all ftjnds 87.064 211,816 (273.420) 25,460 Statement of fvnds - prior year Balance at 31 December 2019 Balance at l February 2019 Unrestricted funds General Funds - all lunds 87.064 87.064 Related party transactions A5 at the year end the company owed £22,918 (2019 - E17.746) to We Are Family USA. We Are Family UK and We Are Family USA have three identical members on the board of trustees, N G Rodgers, M A 8arondess and N L Hunt. This loan is interest free and repayable on demand. Page 11