**ELYSIUM FOUNDATION LTD Company limited by guarantee**
**Report and Financial Statements**
**For the year ended 31st March 2021**
**Charity number: 1164296 Company number: 8919991**
**ELYSIUM FOUNDATION LTD For the period ended 31[st] March 2021**
## _**Contents**_
Legal and administrative information Trustees’ report Independent Examiner’s Report Balance Sheet
Notes to the financial statements
Accounting policies Income & Expenditure account- notes 1 & 2 Notes 3 to 11 inclusive
1
**ELYSIUM FOUNDATION LTD For the period ended 31[st] March 2021**
## **Reference and administrative details**
## **Trustees (Directors)**
Dr Ian Robert McAndrew Graham Murray Holliday Natasha Jane Callan Narinder Singh Minhas
## **Registered office**
17 Ensign House Admirals Way LONDON E14 9XQ
## **Company registered number**
8919991
## **Registered charity number**
1164296
## **Operational address**
17 Ensign House Admirals Way LONDON E14 9XQ
2
## **ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
Trustees' Annual Report for the year
|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|Trustees' Annual Report for the year|
|---|---|---|---|---|---|---|---|---|
|**From **|Year start date||||Year end date|||**2021**|
||1st|April|2020||**31st**|**March**|**2021**||
## Reference and administration details
**Charity name**
**Other names charity is known by**
**Registered charity number (if any)**
**Charity's principal address**
|etails|etails|
|---|---|
|||
|Elysium Foundation||
|||
|None||
|1164296||
|17 Ensign House||
|Admirals Way||
|||
|London|**E14 9XQ**|
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee(if any)**|
|---|---|---|---|---|
||Dr Ian Robert
McAndrew|Trustee|||
||Graham Murray
Holliday|Trustee|||
||Natasha Jane
Callan|Trustee|||
||Narinder Singh
Minhas|Trustee|||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
## **ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
16 17 18 19 20 **Names of the trustees for the charity, if any, (for example, any custodian trustees)**
**Name Dates acted if not for whole year**
## **Names and addresses of advisers (Optional information)**
> **Type of advisor Name Address**
## **Name of chief executive or names of senior staff members (Optional information)**
## **Structure, governance and management**
## **Description of the charity’s trusts**
Memorandum & Articles of Association Type of governing document (eg. trust deed, constitution) Company limited by guarantee How the charity is constituted (eg. trust, association, company) Self-selected by existing trustees at general meeting thereof. Trustee selection methods
- (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
You **may choose** to include additional information, where relevant, about:
- Policies and procedures adopted for the induction and training of trustees.
- The charity’s organisational structure and any wider network with which the charity works.
- Relationship with any related parties.
The charity is not associated or connected to any other organisation or parties.
- Trustees’ consideration of major risks and the system The trustees have in place accounting with management
- and procedures to manage procedures appropriate to the size of the organisation. All risks
- them. appertaining to the approval of grants are carefully considered by the trustees. Outside professional advice is sought regarding matters outside of the expertise of the trustees.
## **Objectives and activities**
The objects of the charity are to advance the education of the general public in particular but not exclusively by:
**Summary of the objects of the charity set out in its governing document**
i) Providing computer classes for school age children. ii) Providing education and training for young people and adults
There have not been any changes in the objects since the date of the previous annual report. See i) and ii) above
**Summary of the main activities in relation to these objects**
## **Additional details of objectives and activities (Optional information)**
## Purposes and Aims
Our charity’s purposes as set out in the objects contained in the company’s memorandum of association and are to:
Advance the education of the general public in particular but not exclusively by
**ELYSIUM FOUNDATION LTD for the period ended 31[st] March 2021**
- providing computer classes for school aged children, and
- providing education and training for young people and adults.
The aims of our charity are to advance the education of school aged children, young people and adults. Our aims fully reflect the purposes that the charity was set up to further.
## Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous 12 months. The review considers the success of each key project and the benefits they have achieved The review also helps to ensure our aims, objectives and activities remain focused on our stated purposes. We follow and refer to the current guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## The focus of our work
Our main objectives for the year continued to be the advancement, promotion, and delivery of education and training for young people and adults. The projects we established and continued to support to meet these objectives included:
- Continuing to support and mentor the businesses created by local beneficiaries in the street food market established by the charity in South Quay, London E14. With our assistance, this market and the businesses that operate there continue to strengthen and grow, creating further local employment.
- Progressing with the establishment and operation of a cafe/restaurant premises to use as the next phase in our project to both interest and support young people and adults in jobs or businesses in hospitality and catering.
- Where possible, to support with mentoring and/or financial assistance selected deserving projects and individuals to attain their educational aims
Working in partnership with other agencies and providers of social education, care and assistance, to secure and support the widest range of services and assistance available, that best matches the educational, training and social needs of the local population and communities. This at present is primarily by providing working and meeting venues, as well as support for local community in conjunction with other providers and agencies, such as Poplar Harca, who are one of the largest and most diverse providers of support and services to communities in East London, and have strong national and international ties in our field
## **How our activities deliver public benefit**
We positively champion diversity, equality, and true public benefit. Our main activities and
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
those we try to help are described below. All our charitable activities focus on the provision and delivery of education and training to the general public and are undertaken to further our charitable purposes for the public benefit.
## Who used and benefited from our services?
Our objects and small volunteer pool limit the services we are able to provide at present, mainly to those resident in and around the London Borough of Tower Hamlets. The number of residents in Tower Hamlets is estimated to be in excess of 320,000 (c.20% of which are under the age of 18) and comprise one of the most diverse make up of population in the whole country. All our services are provided free to our clients. Tower Hamlets is one of the most culturally diverse regions in the UK, with over two thirds being made up from other ethnic groups. The borough also contains some of the most severe poverty, deprivation, and low life expectancy, whilst at the same time housing one of the world's richest business communities. Yet despite this background, academic success in the borough has risen significantly in the last decade
Accordingly, equal access to our services is an important consideration for the charity. In addition to constant monitoring of access to our services by gender, disability, and sexual orientation, we are actively pursuing the publication of our first ethnicity monitoring study which is heavily dependent on our limited resources. We are aware, from a basic review undertaken last year, that we already have a suitably diverse and open user base. However, we strongly believe equal access to our services and facilities is vital to our success and that successful outcomes must be shared by all communities that are able to use our services.
Further information about who benefits directly from our services is explained in the analysis of performance and achievements below.
The main areas of charitable activity are:
- the provision of educational mentoring, advice and information
- the operation of a street food market and a café/restaurant as training projects and a social and community facility and meeting/ training venue for all.
These activities and the achievements that flow from our work are described below.
## Mentoring, Advice and Information
In the year under review over 120 volunteer hours were donated by trustees.
Individual advice is provided by appointment in person or via video link, regular email and telephone support and advice also available. Several businesses and individuals regularly used this service during the year with over 50 individual counselling sessions being held. We were able to help in a variety of ways and where appropriate can also arrange referrals to our partners where assistance is needed in relation to housing, debt, mental health, substance abuse or other social service related issues
We have identified a particularly serious issue greatly affecting our local communities which is the prolific rise in incidents of youth violence and knife crime. Doubtless there are many contributory local factors such as problems of depression, crime, use, and poverty. We are trying hard to ensure that by working with our partners we can educate and offer a holistic approach to the problems arising from this and the other many issues experienced in our
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
## local communities
We continue to work in close co-operation with Poplar Harca and London Borough of Tower Hamlets on this and also in operating the hospitality and catering projects
The accredited training project continues to be focused on the operation of the street food market and café, which facilitate Food Hygiene training and qualifications. The café now provides a welcoming and cheerful atmosphere in a relaxed and tranquil location, and hosts numerous activities, including art exhibitions, film and music evenings and other many other events of general or specific interest to local communities.
## **Financial Review**
For several years now the charity had been severely restricted in it's operations as a result of funding it extremely difficult to sell our property near Chichester, West Sussex. The severe financial pressures of maintaining that property with little or no income being generated, have continued to make it difficult to plan or develop new projects. Nevertheless, the charity, with the aid of strict financial management and the support of its trustees managed to survive until the property was eventually sold at the end of May 2018. This generated a very positive financial inflow with a net increase in funds of just over £2,664,000. This has provided much needed additional resources which continue to now enable new projects to be funded and undertaken. The charity has also invested in two properties, that will provide solid rental income as well as good capital growth
## Principal Funding Sources
The principal ongoing funding source for the charity is currently by way of investment income.
## Investment Policy
Aside from retaining a prudent amount in reserves each year, most of the charity’s funds are to be spent in the short term on the furtherance our charitable activities. Accordingly, funds for long term investment will gradually decrease. Having considered the options available and following professional expert advice, our current policy is that the Trustees have decided to invest prudently in a spread of quoted investments, investment property, fixed term interest bearing deposits, also the money market. The Trustees consider the overall return on long term investments and deposits together, at over 4% in the year, to be acceptable in the current economic climate. A review of investment policies is ongoing.
## Reserves Policy
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the funds (which are all unrestricted funds) uncommitted or invested in tangible fixed assets held by the charity should be between 6 and 12 months of the anticipated expenditure. Budgeted expenditure for 2021/22 is approximately £100,000 and therefore the target is £50,000 to £100,000 in general funds. The reserves are needed to meet the working capital requirements of the charity and the Trustees are confident that at this level, they would be able to continue the current activities of the charity in the event of a significant drop in investment income. The
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
present level of reserves available to the charity is therefore considered very comfortable to maintain this target level. In the short term the Trustees have also considered the extent to which existing activities and expenditure could be curtailed, should circumstances arise which necessitate such action being taken. Obviously the Covid-19 'lockdown' restrictions seriously curtailed activities, and also reminded the Trustees be alert to such crisis and to carefully regularly review our contingency policies. We are currently in the process of doing so
## **Plans for Future Periods**
The charity plans to continue supporting the activities outlined above in forthcoming years, subject to satisfactory funding arrangements being in place. Plans are also being developed to work on a number of new projects with local agencies and job centres, the intention of which is to be able to offer further and wider assistance to those who have been through our training projects on mentoring schemes. The expectation is that this will lead to and assist in building and maintaining long-term business opportunities or employment for those beneficiaries..
## Recruitment and Appointment of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as Directors. Under the requirements of the Memorandum and Articles of Association the Directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All Trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in notes to the accounts.
Educational, training and financial skills are well represented in the Trustees. In an effort to maintain this broad skill mix, Trustees are requested to provide a list of their skills (updated each year) and in the event of particular skills being lost due to retirements, suitable individuals will be considered to be approached to offer themselves for election as trustees.
## Trustee Induction and Training
New trustees are invited to attend an induction training session to familiarise themselves with the charity and the context within which it operates. This covers:
- 0 The obligations of Trustees
- The main documents which set out the operational framework for the charity including the Articles of Association
- Resourcing and the current financial position as set out in the latest published accounts.
- Future plans and objectives.
New Trustees are provided with various Charity Commission publications signposted through the Commission’s guide “the Essential Trustee” as a follow up to these sessions. These are distributed to all new trustees and periodically to existing Trustees along with the
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
Memorandum and Articles and the latest financial statements.
## Risk Management
The Trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of trustees, volunteers, and visitors to any Elysium properties. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity. These were carefully reviewed during the year in light of the ongoing Covid threat and necessary social distancing amongst other serious considerations
## Organisational Structure
The Charity has Trustees who meet at least quarterly and are responsible for the strategic direction and policy of the charity. At present there are four trustees from a variety of professional backgrounds relevant to the work of the charity.
## Related Parties
In so far as it is complimentary to the charity’s objects, the charity is guided by both local and national policy. Our interactions with other local charities and organisations within the borough has proved invaluable to the charity in establishing improved links within the community and identifying relevant policy developments.
You **may choose** to include further statements, where relevant, about:
The trustees carefully review each application for assistance, including referral to relevant professionals where appropriate.
- Policy on grantmaking
- Policy programme related investment
- Contribution made by Volunteers
## Achievements and performance
## **ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
Achievements and performance **Summary of the main** Sale of property to further fund the charitable **achievements of the charity** objects **during the year**
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
## Achievements and performance
For further comprehensive information please contact the charity
## **Financial review**
The policy of the charity is to maintain the charity reserves at a **Brief statement of the** level sufficient to ensure the continuance of essential services. **charity’s policy on reserves Details of any funds materially in deficit**
**Further financial review details (Optional information)**
**ELYSIUM FOUNDATION LTD**
## **for the period ended 31[st] March 2021**
You **may choose** to include additional information, where relevant about:
- The charity’s principal sources of funds (including any fundraising).
- How expenditure has supported the key objectives of the charity.
- Investment policy and objectives including any ethical investment policy adopted.
## **Other optional information**
## **Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s)**
Graham Murray Holliday **Full name(s)** Ian Robert McAndrew **Position (e:g: secretary,** Trustee- Chairperson Trustees **chair, etc) Date** 30[th] December 2021
## **Independent examiner's report on the accounts**
## **Section A Independent Examiner’s Report**
**Report to the trustees/** The Elysium Foundation Limited (by guarantee) **members of**
|**On accounts for the year**
**ended**
**Set out on pages**|31stMarch 2021|**Charity no**
**(if any)**|1164296|
|---|---|---|---|
|||||
||1 to 15 inclusive
(remember to include the page numbers of additional sheets)|||
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2021.
**Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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** [I am qualified to undertake the examination by being a fellow of the **examiner's statement** Chartered Association of Certified Accountants
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did 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.
* _Please delete the words in the brackets if they do not apply._
||||
|---|---|---|
|**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**(if any):**|DavidGordonFCCA Cert.PFS SPA|30THDECEMBER 2021|
||||
||David Gordon||
||||
||FCCA, Cert.PFS,SPA||
1
**Oct 2018**
**IER**
## **Address:**
GORWINS HOUSE 119A HAMLET COURT ROAD WESTCLIFF ON SEA SS0 7EW
## **Section B Disclosure**
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
.
2
**Oct 2018**
**IER**
company limited by guarantee Charity No 1164296 Company No 8919991 Notes to the Financial statement
## **ELYSIUM FOUNDATION**
## **for the period ended 31st March 2021**
|**Balance Sheet**|||||
|---|---|---|---|---|
|**Fixed Assets**|||**2021 £**|**2020 £**|
|Tangible Assets||10|1,295,170|639,702|
|**Current Assets**|||||
|Debtors|||-|-|
|Listed Investments|10a||906,760|769,416|
|Interest bearing deposit|10a||444,414|780,000|
|Cash at Bank & In Hand|||1,821,761|2,130,573|
||||3,172,935|3,679,989|
|**Creditors**|||||
|amounts falling due within one year||11|45,232|14,044|
|**Net current assets / (liabilities)**|||**3,127,703**|**3,665,945**|
|**Total assets less current liabilties**|||**4,422,873**|**4,305,647**|
|**Capital & Reserves**|||||
|Capital reserves brought forward|||1,849,692|1,940,613|
|Investment revaluation|||137,344|(90,921)|
||||1,987,036|1,849,692|
|Revenue surplus/ (deficit) brought forward|||2,455,955|2,540,547|
|This accounting period|||(20,118)|(84,592)|
||||2,435,837|2,455,955|
||||||
|carried forward|||**4,422,873**|**4,305,647**|
- a) For the year ended 31st March 2021 the company was entitled to the exemptions
- from audit under section 477(2) of the Companies Act 2006 relating to the small companies regime
- b) The members and the Trustees have not required the company to obtain an audit of in accordance with section 476 of the Companies Act 2006
c) The directors (Trustees) acknowledge their responsibility for:
- (i) Ensuring that the company keeps accounting records which comply with Section 386, and
- (ii) Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirments of the Companies Act relating to accounts, so far as is applicable to the company.
- (d) The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors/trustees on 28th December 2021, and signed on its behalf.
G M Holliday trustee & director Dr I R McAndrew trustee & director
**The notes following, "Accounting Policies" with notes 1 to 11 form part of these statements.**
**ELYSIUM FOUNDATION LTD For the PERIOD ended 31 st March 2021**
## **Accounting policies**
## _**a) Basis of accounting**_
The financial statements have been prepared under the historical cost convention and are in accordance with statement of Recommended Practice, with accounting and reporting by Charities,
## _**b) Incoming resources**_
All incoming resources are included are included in the financial statements.
## **c)** _**Charitable trading activities**_
There are no charitable trading activities.
## _**Commercial trading activities**_
There are no commercial trading activities.
## _**Legacies and donations**_
Legacies and donations are credited in the year in which they are received.
## _**Grant income**_
Grant income is credited in the year to which it relates.
## _**Interest receivable**_
Interest is credited in the year in which it is received.
## _**d) Resources expended**_
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered.
## _**Allocation of expenditure**_
Expenditure directly attributable to specific activities has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across categories on the basis consistent with the use of resources.
## _**Pension costs**_
There are no pension costs.
## _**Operating leases**_
Rentals under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.
- _**e) VAT**_
The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
## _**f) Fund structure**_
The funds held by the charity are _unrestricted general funds -_ these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. The charity does not hold, distribute, or administer any _restricted funds_ (Funds donated for or allocated to a specific charitable act or activity).
## _**g) Trustees’ remuneration and or benefits and or expenses**_
No remuneration and or benefits and or expenses were paid during this year (2019 £ nil)
## _**h) Taxation**_
The company is exempt from corporation and or income tax to the extent that its income and or gains are solely applicable to charitable purposes.
_10_
company limited by guarantee Charity No 1164296 Company No 8919991 Notes to the Financial statement
**for the period ended 31st March 2021**
## **ELYSIUM FOUNDATION**
## **Income and Expenditure All funds are "Unrestricted" funds**
## **Note 1 Incoming Resources**
|**From generated funds**
Note
**2021 £**
**2020 £**
Voluntary income
3
-
-
Income from Listed investments
26,060
42,201
Interest received
23,699
23,663
Activties for generating funds
4
29,402
22,500
**Total in**
**79,161**
**88,364**
The charity does not evaluate the market value of any benefits provided
free of cost to its beneficiaries.
**Note 2 Resources expended**
Note
**2021 £**
**2020 £**
Charitable activities
6
83,298
156,134
Costs of generating funds
7
4,443
5,488
Governance- direct support costs
8
1,868
5,039
Governance- related support costs
9
9,670
6,295
**Total out**
**99,279**
**172,956**
**Net resources**
Excess of expenditure over income
(20,118)
(84,592)
Surpus on sale of property
-
Surplus/(Deficit) to Reserves
**(20,118)**
**(84,592)**
**All of the results relate to continuing activities**|**From generated funds**
Note
**2021 £**
**2020 £**
Voluntary income
3
-
-
Income from Listed investments
26,060
42,201
Interest received
23,699
23,663
Activties for generating funds
4
29,402
22,500
**Total in**
**79,161**
**88,364**
The charity does not evaluate the market value of any benefits provided
free of cost to its beneficiaries.
**Note 2 Resources expended**
Note
**2021 £**
**2020 £**
Charitable activities
6
83,298
156,134
Costs of generating funds
7
4,443
5,488
Governance- direct support costs
8
1,868
5,039
Governance- related support costs
9
9,670
6,295
**Total out**
**99,279**
**172,956**
**Net resources**
Excess of expenditure over income
(20,118)
(84,592)
Surpus on sale of property
-
Surplus/(Deficit) to Reserves
**(20,118)**
**(84,592)**
**All of the results relate to continuing activities**|**2021 £**
-
26,060
23,699
29,402|**2020 £**
-
42,201
23,663
22,500|
|---|---|---|---|
|||**79,161**|**88,364**|
|||**99,279**
**172,956**||
|||(20,118)
(84,592)
-
**(20,118)**
**(84,592)**||
|||||
## **Notes 3 to 11 following, form part of the financial statements.**
## **ELYSIUM FOUNDATION**
company limited by guarantee
Charity No 1164296 Company No 8919991 Notes to the Financial statement
## **for the period ended 31st March 2021 Note 3 Voluntary income 2021 £**
|**untary income**
**2021 £**
-
0
**-**
**ivities for generating funds**
Rent received
29402
**29,402**
**oming Resources from charitable activities**
Gift Aid tax refunds
**29,402**||**2021 £**
-
0|**2020 £**
-
0|
|---|---|---|---|
|||**-**|**-**|
|||29402|22500|
|||**29,402**|**22,500**|
|||||
||**29,402**||**-**|
## **Note 4 Activities for generating funds**
## **Note 5 Incoming Resources from charitable activities**
## **Expenditure of the Charity**
All of the expenditure incurred was necessary to generate the income of the charity. The expenditure is allocated as follows:
## **Note 6 Charitable activities costs**
|||||
|---|---|---|---|
|**Note 6 Charitable activities costs**
Donations and grants out
**Note 7 Costs of generating funds**
Wages
Rent, rates & water
Number of full time employees or full time equivalents
engaged on management or administration
**Note 8 Governance costs**
Accountancy services
Legal & professional
Bank charges||**2021 £**
83,298|**2020 £**
156,134|
|||**83,298**|**156,134**|
|||**2021 £**
-
4,443|**2020 £**
-
5,488|
|||**4,443**|**5,488**|
|||-
**2021 £**
1,250
220
398|-
**2020 £**
4,750
-
289|
|||**1,868**|**5,039**|
|**Note 9 Related support costs**
General
Travel and subsistence|**2021 £**
375
1100|**2020 £**
-
6295|
|---|---|---|
## **ELYSIUM FOUNDATION**
## company limited by guarantee Charity No 1164296 Company No 8919991 Notes to the Financial statement
## **for the period ended 31st March 2021**
|Insurance
-
Repairs
8,195
Depreciation:
-
**9,670**
**Note 10 Fixed Assets**
**2021 £**
**Cost**
Land and buildings
639,702
Additions during the year
655,468
Disposals at cost
-
**1,295,170**
**Depreciation**
brought forward
**-**
charged this year
**-**
no longer required
**-**
**-**
**Net book value**
31st December
**1,295,170**
**Note 10a**
Interest bearing deposit repayable on demand
444,414
Listed investments b/fwd
769,416
revaluation
137,344
Value c/fwd
906,760
**1,351,174**
Listed investments revalued by the charity's stockbrokers.
**Note 11 Creditors**
**2021 £**
Sundry creditors
40,807
Accrued expenses
4,425
Taxes
-
Sundry creditors and accruals
**45,232**||-
8,195
-|-
-
-|
|---|---|---|---|
|||**9,670**|**6,295**|
|||**2021 £**
639,702
655,468
-|**2020 £**
639,702|
|||**1,295,170**|**639,702**|
|||**-**
**-**
**-**|**-**
**-**
**-**|
|||**-**|**-**|
|||**1,295,170**|**639,702**|
|||444,414
769,416
137,344|780,000
860,337
(90,921)|
|||906,760|769,416|
|||||
|||**1,351,174**|**1,549,416**|
||||**2020 £**
14,044|
|||**45,232**|**14,044**|