**REGISTERED CHARITY NUMBER: 1163645** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2021 for The Green Hat Foundation** **The Green Hat Foundation** **Contents of the Financial Statements for the year ended 31 July 2021** ||Page| |---|---| |Report of the Trustees|1 to 2| |Independent Examiner's Report|3| |Receipts and Payments|4| |Statement of Assets and Liabilities|5| |Notes to the Financial Statements|6| |Detailed Statement of Financial Activities|7| ## **The Green Hat Foundation** ## **Report of the Trustees for the year ended 31 July 2021** The trustees, present their report with the financial statements of the charity for the year ended 31 July 2021. ## **OBJECTIVES AND ACTIVITIES** The objectives of the charity are: - To relive financial hardship by supporting or providing education and training to the poor to help them create a better livelihood. - Develop technologies and innovations which help provide a better life for the poor. - Offer alternatives which disrupt traditional mechanisms driving wealth from the poor to the wealthy. - Educating the poor to be more resistant to exploitation and the wealthy to measure success more broadly. - Developing skills in the less well off and create work opportunities for them. - Undermining societal devices which transfer wealth to the wealthy with little value added. - Supporting organisations and entrepreneurs who do any of the above. ## **ACHIEVEMENT AND PERFORMANCE** This year saw the addition of another rental property to the portfolio to increase the income from investments. This was pursued having shown success with the initial properties and given the continued reduction in interest from the savings accounts. This increased overall income to £36,037 and we received further donations from trustees of £195. No grants were made and combined assets rose to £100,000,000. Property assets have been taken as purchase cost and a review of the market suggests an increase in values, but this will not be recognised until a re-evaluation is done. ## **FINANCIAL REVIEW** ## **Reserves policy** The trustees will endeavour to maintain cash reserves equal to at least 12 months' operating expenditure. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Green Hat Foundation, registered charity 1163645 (England & Wales), is a charitable incorporated organisation that operates under the rules of its Constitution dated 18 September 2015 and was registered with the Charity Commission on 18 September 2015 (“The Green Hat Foundation" or the "CIO"). All Executive Committee members are trustees. Trustees are unpaid volunteers. Page 1 ## **The Green Hat Foundation** ## **Report of the Trustees for the year ended 31 July 2021** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** (England and Wales) 1163645 ## **Registered office** 58 Mildway Road London N1 4NG ## **Trustees** Gerrit JE Quest Ian Quest Joel Harrison Lisa Draper Pamela Draper Peter Quest Sophie Dalling ## **Trustee Resignations** ## **Independent examiner** Sarah Sharples FCCA FS Accountants Limited 44 York Street Clitheroe BB7 2DL Approved by order of the board of trustees on ………….. and signed on its behalf by: ............................................. Ian Quest Page 2 **Independent Examiner's Report to the Trustees of The Green Hat Foundation** ## **Independent examiner's report to the trustees of The Green Hat Foundation** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2021. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material 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 the required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination 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 Sarah Sharples ACCA FS Accountants Limited 44 York Street Clitheroe BB7 2DL Date ……………….. Page 4 ## **The Green Hat Foundation** ## **Receipts and Payments Account for the year ended 31 July 2021** |||31/07/21|31/07/20| |---|---|---|---| |||Total funds|Total funds| ||Notes|£|£| |**RECEIPTS**|||| |Donations and legacies||195|4,750| |Investment income|2|36,037|29,147| |**Total**||36,232|33,897| |**PAYMENTS**|||| |**Charitable activities**|||| |Grant payments and supporting||203,777|176,989| |activities|||| |**NET (PAYMENTS)**||(167,545)|(143,092)| |**RECONCILIATION OF FUNDS**|||| **Balances brought forward** 323,231 466,323 ## **BALANCES CARRIED FORWARD** 155,686 323,231 Page 4 ## **The Green Hat Foundation** ## **Statement of Assets and Liabilities At 31 July 2021** |||31/07/21|31/07/20| |---|---|---|---| |||Total funds|Total funds| ||Notes|£|£| |**FIXED ASSETS**|||| |Property Held||895,000|695,000| |**CURRENT ASSETS**|||| |Cash at bank and in hand||155,686|323,3| ||||23| |**TOTAL ASSETS**||**1,050,6**|**10182**| |||**86**|**31**| The financial statements were approved by the Board of Trustees on ………….. and were signed on its behalf by: ............................................. Ian Quest Page 5 **The Green Hat Foundation** ## **Notes to the Financial Statements for the year ended 31 July 2021** ## **1. ACCOUNTING POLICIES** **Basis of preparing the financial statements** The financial statements are prepared on a receipts and payments basis. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ## **2. INVESTMENT INCOME** 31/07/21 31/07/20 £ £ Deposit account interest 2,542 5,040 Income from investments 33,495 24,107 36,037 29,147 Page 7 **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019. ## **6. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 July 2021. Page 7 ## **The Green Hat Foundation** ## **Detailed Information for the year ended 31 July 2021** ||31/07/21|31/07/20| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|195|4,750| ||-|-| ## **Investment income** Deposit account interest 2,542 5,040 Income from investments 33,495 24,107 ## **Total incoming resources** 36,232 33,897 ## **EXPENDITURE** ## **Charitable activities** Grants made - 5,221 Bank fees 81 60 Legal & Professional fees 181 - Repairs 1,893 Insurance 560 413 Purchase of property Page 7 201,062 171,295 **Total resources expended** 203,777 176,989 **Net (expenditure)/income** (167,545) (143,092) Page 7