2020-12-31-accounts - Epic Foundation UK Limited

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Reference and Administrative	Reference and Administrative
Trustees' Report		2 to 3
Suutegic Report
Statement ofTrustees'	Responsibilities
Independent Auditors'	Report	6 to 8
Statement ofFinancial	Activities
Balance Sheet		IO
Statement ofCash Flows
Notes to the Financial	Statements	12to I9

			Epic Foundation	UKLtd	UKLtd	UKLtd
			Reference and Administrative			Details
		For the year ended 31December 2020
Trustees			Mr Alexandre Mars
			Ms Myriam Vender Elst
			Mr Charles Prevost
Principal	Office		Suite I
			3rd Floor
			11-12St.James's Square
			London
			SWIY4LB
			The charity is incorporated		in	England.
Company	Registration	Number	09614226
Charity Registration		Number	1163753
Solicitors			Kirkland 8r.Ellis International			LLP
			30StMary Axe
			London
			EC3A4TR
Bankers			HSBC
			City ofLondon Branch
			60 Queen Victoria Street
			London
			EC4N 4TR
Auditor			Flintham Mackenzie Audit		Limited
			Chartered Accountants	and Statutory Auditors
			277 - 279Chiswick High Road
			London
			W4 4PU

			and Lo	sses)
				Unrestricted	Restricted	Total
				funds	funds	2020
			Note
Income and Endowments		from:
Donations and legacies				862,006	690,617	1,552,623
investment income				1		1
Total income				862,007	690,617	1,552,624
Expenditure on:
Raising funds				(893)		(893)
Charitable acdvities				(662,514)	(880,599)	(1,543,113)
Total expenditure				(663,407)	(880,599)	(1,544,006)
Net income/(expenditure)				198,600	(189,982)	8,618
Net movement in funds				198,600	(189,982)	8,618
Reconciliation offunds
Total funds brought	forward			179,098	287,903	467,001
Total funds carried	forward		17	377,698	97,921	475,619
				Unrestricted	Restricted	Total
				funds	funds	2019
			Note
Income and Endowments		from:
Donations and legacies				556,852	1,421,022	1,977,874
Investment income					I	1
Total income				556,852	1,421,023	1,977,875
Expenditure on:
Raising funds				(96,722)		(96,722)
Charitable activities				(419,353)	(1,061,627)	(1,480,980)
Total expenditure				(516,075)	(1,061,627)	(1,577,702)
Net income				40,777	359,396	400,173
Net movement in funds				40,777	359,396	400,173
Reconciliation offunds
Total funds brought	forward			138,321	(71,493)	66,828
Total funds carried	forward		17	179,098	287,903	467,001

		Balanc	e Sheet as at 31	December 202	0
					2020	2019
				Note		g
Current assets
Debtors				12		143
Cash at bank	and in hand			13	546,757	898,907
					546,757	899,050
Creditors: Amounts		falling due within	one year	14	(71,138)	(432,049)
Net assets					475,619	467,001
Funds ofthe	charity:
Restricted income funds
Restricted funds					97,921	287,903
Unrestricted	income	funds
Unrestricted	funds				377,698	179,098
Total funds				17	475,619	467,001

Statement o	fCash Flows for the Y	ear Ended 31D	ecember 2020
			2020	2019
		Note
Cash flows from operating activities
Net cash income			8,618	400,	173
Adjustments to cash flows from non-cash items
Investment income
			8,617	400,	172
Working capital adjustments
Decrease in debtors		12	143		498
(Decrease)/increase in creditors		14	(360,911)	95,784
Decrease in deferred income				(80,000)
Net cash flows from operating	activities		(352,151)	416,454
Cash flows from investing activities
Interest receivable and similar	income
Net (decrease)/increase in cash	and cash equivalents		(352,150)	416,455
Cash and cash equivalents at I	January		898,907	482,452
Cash and cash equivalents at 31December			546,757	898,907

			Unrestricted
			funds
				Restricted	Total	Total
			General	funds	2020	2019
			8	g	g
Donations	and legacies;
Donations		from individuals	862,006	690,617	1,552,623	1,977,874
			862,006	690,617	1,552,623	1,977,874

									Unrestricted
									funds
										Total	Total
									General	2020	2019
interest receivable			and similar			income;
	Interest receivable			on	bank deposits
5	Expenditure		on	raising funds
a)	Costs of	generating			donations		and legacies
									Unrestricted
									funds
										Total	Total
									General	2020	2019
								Note
Fund raising		events							893	893	96,722
6	Expenditure		on	charitable		activities
								Unrestricted
								funds
									Restricted	Total	Total
								General	funds	2020	2019
					Note
Grant funding of
activities								449,413	880,599	1,330,012	1,218,778
Governance		costs						213,101		213,101	262,202
								662,514	880,599	1,543,]13	1,480,980
					Unrestricted
					funds
								Restricted		Total	Total
					General			funds	Other funds	2020	2019
						g
Sports								119,668	19,179	138,847	183,144
Health						56,202		139,717	31,965	227,884	407,316
Education						116,279		369,999	78,847	565,125	673,]12
Social care					262,837			219,282	76,716	558,835	60,256
Others						14,095		31,933	6,394	52,422	157,151
					449,413			880,599	213,101	1,543,113	1,480,979

Governance cost	s
			Total	Total
			2020	2019
			g
Staff costs
Wages and salaries			119,234	155,494
Social security	costs		9,812	20,514
Pension costs			3,909	3,236
Audit fees
Audit ofthe financial		statements	8,000	8,000
Other fees paid	to auditors		13,307	13,571
Other governance	costs		58,839	61,387
			213,101	262,202

9 Staffcosts The aggregate payroll costs were as follows:
	2020	2019
	g
Staffcosts during the year were:
Wages and salaries	119,234	155,494
Social security costs	9,812	20,514
Pension costs	3,909	3,236
	132,955	179,244

12 Debtors
		2020	2019
Other debtors			143
13 Cash and cash equivalents
		2020	2019
			f
Cash at bank		546,757	898,907
14 Creditors: amounts	falling due within one year
		2020	2019
Trade creditors			238
Other creditors		58,138	418,811
Accrual s		13,000	13,000
		71,138	432,049

15 Pension and other	schemes
Defined contribution	pension scheme

					2020	2019
				Note
Total commitments
17 Funds
						Balance at31
			Balance at I	Incoming	Resources	December
			January 2020	resources	expended	2020
			g	g
Unrestricted		funds
General			179,098	862,007	(663,407)	377,698
Restricted	funds		287,903	690,617	(880,599)	97,921
Total funds			467,001	1,552,624	(1,544,006)	475,619
						Balance at31
			Balance at I	Incoming	Resources	December
			January 2019	resources	expended	2019
				g
Unrestricted		funds
General			138,321	556,852	(516,075)	179,098
Restricted	funds		(71,493)	1,421,023	(1,061,627)	287,903
Total funds			66,828	1,977,875	(1,577,702)	467,001

18 Analysis ofnet assets between fun	ds
	Unrestricted
	funds
		Restricted
	General	funds	Total funds
Current assets	448,836	97,921	546,757
Current liabilities	(71,138)		(71,138)
Total net assets	377,698	97,921	475,619

Notes to the Financial	Statements for the Year Ended	31December	2020
	Unrestricted
	funds
		Restricted
	General	funds	Total funds
Current assets Current liabilities	200,785 (16,212)	698,265 1415,837)	899,050 ~432,049)
Total net assets	184,573	282,428	467,001

19 Analysis ofnet funds
			At 31
	At 1January	Financing	December
	2020	cash flows	2020
Cash at bank and in hand	898,907	f ~352,350)	546,757
Net funds	898.9117	~352,350)	546,757
			At 31
	At 1January	Financing	December
	2019	cash flows	2019
Cash at bank and in hand	482,452	416,455	898,907
Net funds	482,452	416,455	898,907

		Restricte	d funds
			Total
			Restricted	Restricted
			funds	funds
			2020	2019
Income and Endowments		from:
Donations and legacies			690,617	1,421,022
Investment income				I
Total income			690,617	1,421,023
Expenditure on:
Charitable activities			(880,599)	(1,061,627)
Total expenditure			~880,599	~1,061,627
Net (expenditure)/income			(189,982)	359,396
Net movement in funds			(189,982)	359,396
Reconciliation offunds
Total funds brought	forward		287,903	(71,493)
Total funds carried	forward		97,921	287,903

Detailed Sta	tem	ent		ofFinan	cial Activities for	the Year E	nded 31Decem	ber 2020
					2020		2020
					Unrestricted
					funds
						Restricted		Total
					General	funds	Total	2019
Income and Endowments			from:
Donations and legacies		(analysed
below)					862,006	690,617	1,552,623	1,977,874
investment income	(analysed			below)	1		I	I
Total income					862,007	690,617	1,552,624	1,977,875
Expenditure on:
Raising funds (analysed below) Charitable activities (analysed below)					(893) ~5662,554 ~888,599		(893) ~5„543,553	(96,722) ~1,435,950
Total expenditure					(663,407)	(880,599)	(1,544,006)	(1,577,702)
Net income/(expenditure)					198,600	(189,982)	8,618	400,173
Net movement in funds					198,600	(189,982)	8,618	400,173
Reconciliation offunds
Total funds brought	forward				179,098	287,903	467,001	66,828
Total funds carried	forward				377,698	97,921	475,619	467,001

		2020	2020	2020
		Unrestricted
		funds
			Restricted		Total
		General f	fundsf	Totalf	2019
Donations	and legacies
Donations	and Legacies		690,617	690,617	1,421,022
Donations	and Legacies	862,006		862,006	556,852
		862,006	690,617	1,552,623	1,977,874
			2020	2020
			Unrestricted
			funds
					Total
			General	Total	2019
Investment	income
Bank interest receivable
Bank interest receivable
			2020	2020
			Unrestricted
			funds
					Total
			General	Totalf	2019
Raising funds
Events &	Summits		(893) ~893	(893) ~893	(96,722) 396.7223

Detailed State	ment ofFina	ncial Activities for	the Year End	ed 31Decemb	er 2020
		2020		2020
		Unrestricted
		funds
			Restricted		Total
		General	funds	Total	2019
Charitable activities
Grants			(880,599)	(880,599)	(1,061,627)
Grants payable		(449,413)		(449,413)	(157,151)
Office expenses		(1,198)		(1,198)
Accountancy fees		(8,307)		(8,307)	(8,571)
Auditor's fees		(8,000)		(8,000)	(8,000)
Auditors' remuneration	-non audit
work		(5,000)		(5,000)	(5,000)
Wages and salaries		(119,234)		(119,234)	(155,494)
Staff NIC (Employers)		(9,812)		(9,812)	(20,514)
Pension cost		(3,909)		(3,909)	(3,236)
Travel ling		(5,374)		(5,374)	(29,259)
Insurance		(2,322)		(2,322)	(4,073)
Sundry expenses		(835)		(835)	(750)
Advertising					(1,058)
Consultancy fees		(23,373)		(23,373)
Legal and professional	fees	(24,941)		(24,941)	(25,611)
Bank charges		(796)		(796)	(636)
		(662,514)	(880,599)	(1,543,113)	(1,480,980)