Charlty number. 1170544 The Fruiterers Foundation Unaudlted Trustees. report and financlal statements for the year ended 31 January 2021
The Frulterers Foundatlon Conlents Page Roference and admlnlstrallve detalls of the charlty, Its Trnstees and adviserJ Tru$tses' report Independent examlnefs report Statement of ftnancial acllvltle8 Balan sheet Notés to the financial 8tatemenls 8-17
The Fruiterers Foundation
Reference and administrative details of the charity, its Trustees and advisers for the year ended 31 January 2021
| Trustees | Professor John Frederick Price (appointed 26 July 2021) |
|---|---|
| John Robert Warner (appointed 26 July 2021) | |
| Laurence Stephen Olins (appointed 23 March 2021) | |
| Edwyn Sandys Dawes (resigned 26 July 2021) | |
| George Anthony Turnbull (resigned 26 July 2021) | |
| David Simmons (resigned 23 March 2021) | |
| Charity registered number 1170544 Principal office Cranham Close Prinknash Corner Cranham Gloucester GL4 8EZ Accountants Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA Bankers Coutts & Co 440 The Strand London WC2R 0QS Rathbone Investment Management Ltd Port of Liverpool Building Pier Head Liverpool L3 1NW |
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The FrultereTS Foundatlon Trustees. report for the year ended 31 January 2021 The TTUStees present thelr annual report together ryth the finanual statements of the chartty for the ended 31 January 2021. The Trustees confirm that the annu¥ rewrt arKI financial statemgnts of the charity comply wlth the current statutory requirements. the requirements of the charitys goveming document and the provisK)ns of the Statement of Recommended Practice (SORP). applicable to charities pr&paring their a(nts In accordance wtth the Financlai Reporting Standarts applicable in the UK and the Republic of Ireland (FRS 102) {gffectiv8 1 January2015). ObJectlve8 and actlvltlos . Pollclos and objectlves The charity was set up to support general charitablg work in Fruit Cullure and other educational and markgting objectives relating to the Fruit industries and on absorbing the Franklands Gift Fund to supwt the needs of the company and those associated wth it Monies received are Charitab donations from members of the Livery of The Fruiterers, Company, from Investment income and from business organisations. The trust receNes one-half of the SL Paufs Day Livery Service collection. b. Maln actmtles undertaken to fvrther th• charitys purposes for the public benefit In considerlrvJ the actfvitles and grarts made during the year, the Tnth have paid due regard to the publlshed Charity Commlssron guidance on tho operation of the Public Benefit requirements of the Charities Art 2011. Onc8 again. during continuing uncertain and volatile times the current JEar priority has remained to maintain tncome for the Tnjst whde ensuring ils caytsl Is protected. A¢hlevements and perfomiance Flnancial revlew . Golng con¢em The financial stslements have been prepared on a going o)ncem basts. While the impact of the Covid-19 virus has been assessed by the Trustees so far as reasonably possible. due to tts unprecedented impact on the wider economy, It is drfficull to evaluate wtth any certainty the wtential financial impact on the Charity. However, takir into consideration the UK Govemmenvs response and the Chariws planning, the Trustees have a reasonable expectation that the Charity has adequate resources to ecffrtinue in operational existence for the foreseeable fuiure. b. Flnanclal risk management obJectlv8s and policies IrKomlr¥J resources exceed&J expendtture by £119.036 (2020.. £2.1tr2) during the period before realised and unreallsed investment gains and losses. It Is the polley of th8 Charty to maintain free reserves at a levd to enable It to be administered efficiently. meet its short4erm expenditure requirements. and have adequate resources to fund rts charitable activitses and prolects. In establishing this wlicy. the Trustees have considered the dispN)stlion of rts incoming resources, whlch are mainiy deiNed from investments and supplemented by fundraising acbviti8s. The Trustees are satiSffi that the current level of free r&ser4es are adequate for the foreseen requlrements of the charity. Page 2
The Frulterers Foundatlon Trustees. report l¢ontlnued) for the year ended 31 January 2021 Structure• governance and management Constitullon The FrultereTs Foundatton18 a wl8tered charfty, number 1170544, and Is COnstUted under a Trust d8ed. The charlly was IncoTporated on 5 December 2016 and commenced tradlng on that date. b. Methods of appolntment or electlon of Tru8tO88 The management of the charity l¥ th8 responslbllty of the Trustses who are elected and COvOPted under the temis of the Trust deed. c. Rlsk management The Tru8tèeB have 8888886d tha malor risks to whlch the chadty18 exposed, In partlcular those related lo th6 operations and finances of the charlty, and are sallsfled that Systems and procedur83 are In place to millgale our exposure lo the malor rfsks. Plan¥ for futurn porlods The trustees plan to contlnue lo fln8nce Ihelr chadtable advldes prlmarfty from Investment Income and donations received, and from some other actlvitle9. Trustees wlll recelve and act upon recommendauons from the CompanVs Award Council to make payments whlch support r836arch and recognlge achlevement In tha frult Industry, and from the Mast8r for donations to more general worthy ¢ause$. Grant$ wlll ¢ontlnue to be pald to tho86 ndIdUal8 who were nomlnated by the Wholesale Fruit and Potato Benevolent Soclety at the tSme that the 80cieVs asset5 and IlabS111i89 were transferred to the Charllable Trust in 2009, and 8ub8equent(y lo the Frullerer8 Foundation. Statomont of TruBteo8' re8ponslbllltl•• The Tru3lee$ are respon8lble for preparlng the Truste88' report and tho flnanclal statements In accordance wlth applleabla law and Unlted Klngdom Accountin9 Standard8 (United Klngdom Generally Ac¢epled A¢¢ountlng Practice). The law applicable to charities in England & Wales requlres the Trustees to prepare financial statements for oach financlal whlch glve a true and fair view of the slate of affalr5 of the charSty and of Its incoming resource8 and application of resourcos, including Its Income and expenditure. for that p8ri0d. In preparing Ihese financlal $tatements, the Trustees are requlffjd to.. select suitable accounllng pollcles and then apply them conslstently: observe the methods and principles of the Charittes SORP IFRS 1021. make judgments and ac¢ounllng &sllmate8 that are reasonable and prudenl. state whether applicable UK kCoUnftg Standards IFRS 1021 have been followed, subject to any material departuies disclosed and explaln8d In the financlal statements; preparé the finandal statements on the going concem basis unl6ss11 Is inapproprlato to presume that the charity will continuo in buslness. Page 3
The Frulterers Foundatlon TTUStees' report {continuod) for the year endgd 31 January 2021 statement of Trustees. responslbllltles (contlnued) The Truste8s are responsible for keeping adequate accounting records that are suffidènt to show and oxplaln the charitys transactions and disclose with reasonable ac(#Jracy at any time the financial position of the charity and enable them to ensure that the finanal statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other Irregularitleg. Approved by 21 October 2021 order the members the board and signed on their behalf ty. Trustees on L Olins JP Page 4
The Fruiterers Foundatlon Independent examlnerfs report for the year ended 31 January 2021 Independent examlnofs report to th¢ Tnt•8s of The Frultsrors Foundatlon Cthe charlty? I report to the ehadty Truste8s on my examination of the ac(x)unts of the charlty for the year ended 31 January 2021. This report Is made solely lo Ihe Charftys Trustees. as a bLMJy, In s(Xldanca with Part 4 of the Charitles (Accounts and Raportsl Regulatlons 2008. My has been undertaken so th8t I mlght state to the Charivs Trustees those rnatters l am required lo stale to Ihem In an Independent examlnevs report and for no other purpose. To the fvllest extent permitied by law. I do not a¢¢ept or assurne any responsibility10 anyone other than the Charity and the Charitys Trustees as a boty, for ry work or for this report Rosponslbllhles and ba8th of report As the TnJste8s of tha charty )U are responslbla for the preparation of the accounts In ac¢ordance wlth the requirements of the Charitles Act 2011 (Ihe 2011 ACV). I r8Part In respect of my examlnatlon of the ¢harftY$ acunIS carrfed out under sectlon 145 of the 2011 Act and In catyng OLrt my examlnallon I have folkWd the 8ppllcabl8 Dlreclions glven by the CharKy Commlsslon under 8ectlon 145{5)Ib) of tho 2011 A( Independant 8mInerS stat•m•nt Your attention15 drawn lo the fact that the charfty has prepared the awunts In accvrdance wllh Accounllng and Reporting by Charities.. Stsiement of Recommendad PractirE appllcabb to charlties prep8ring Ihelr accounts In accordance wlth the Flnandal Rep)ng Standard applicabb8 in the UK and Republic of Ireland IFRS 1021 In preferenc8 to thè Accountlng and Repcting by Chariti8s.' Statement of Recommanded Practice Issued on 1 Apfll 2005 whlth Is rgferred lo In the extanl regulations bsjt has been wthdrawn. l understand that Ihls has been done In order for the accounts to provlde a Irue and fair vlew In accordance wlth the Generally Accepted Accounting Practlce effecUv6 for reporting periods beginnlng on OT after 1 January 2015. I have completed my examlnation. l ¢onfim that no matters have corne to my attenUon In connecllon vAth the examlnation glving me Cause to belwe Ihal In any material respect.. accountEng records were not kept In respect of the tarfty as requlred by $e¢tlon 130 of the 2011 Act; or th8 accounts do not accord wlth those reoyd$,' or the accounts do not comply vth the appllcable requlrements concemlng the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf view whtth is not a matter consldered a$ part of an Indep8nd8nt examlnallon. I have no concerns and hove corne across no other matters in connecuon the examination to whi¢h attenon should bg drabvn in this rep)rt in ordgr to enable a proper understandirrfj of the accounts lo be reachgd. Signgd: Dated: 8 November 2021 S.P. Tanner B& (Econ) FCA Krgston Rèèv•s LLP Chartered Accountsnts London Page 5
The Frulterers Foundation Statement of finan¢lal actlvitles for the year ended 31 January 2021 Unrestrfctgd Restrlcted funds funds 2021 2021 Tolal funds 2021 Total funds 2020 Income from: Donatlons and18gacies Charitsble actiwties Investrn¢nts 155.675 2.926 19.001 155,675 2,926 19,001 20,253 995 25,812 Total income EXpfjndire on: Raising fijnds Charitable aCtIlieS 177.602 177.602 47,060 4298 48,268 4,298 54.268 4.536 40.362 6,000 Total gxpgndlture 52,566 6.000 58,566 44.898 Net {losses)Igains on investtnents Ngt movement In funds b8fore other recognlsed gain$ Other recognlsed galns". Gains on revaluation of fvxed assets (31,343) 131,343) 5,430 93.693 16,000) 87,693 7,592 38,824 38,824 105,093 Not movement In funds Reconclllatlon of funds: Total funds broughl forward Net movement in funds 132.517 (6,000) 126.517 112,685 1,214065 132,517 6,10S (6.000) 1.220,170 126,517 1,107,485 112,685 Total fvnd¥ Garrled forward 1,346,582 105 1,346,687 1,220,170 The Stalement of financial activttles indudes all gains and k)sses recognlsed in the year. The notes on pages 8 to 17 fomi part of th8se financial statements. Page 6
The FruIter5 Foundation Balancg sheet a$ at 31 January 2021 2021 2020 Note Flxgd assets Investments 1,155,590 1,160,276 1,155.590 1,160.276 Current assets Stocks Debtors Cash al bank and in hand 2,534 314 2,620 193.849 57,446 196.697 60,066 Creditors.. amounts falling due within one year {5,6001 {1721 Net current assets 191,097 59,894 Total assets less current liabilities 1,346,687 1,220,170 Total net assets 1,346,687 1,220,170 Charity funds Reslricled fvnds Unrestricted funds 10 10 105 1.346,582 6,105 1,214,065 Total funds 1.346,687 1,220,170 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. on L Ollns JP Then es on page$ 8 10 17 form part Cif these financial statements. Page 7
The Frulterers Foundation Notes to the flnanclal statements for the year ended 31 January 2021 A¢Unting poli¢i•s 1.1 Legal forn) The Frulterers. Fwndation (the Charlty) Is a Charitsble Incorwrabj organlsatlon domldlad In fhe Unfted Klngdom. The addr of Its reglstered 0ffi¢o arwj prindpal place of bu$Sness 1$ The Old Bakery. Bull Lano. Kotton. Stsmtsd. PE9 3T8. 1.2 Ba818 of preparallon of Ilnan¢lal 8tatsm•nl• The flnancial statements have been prepared in accordance with the Charlttes SORP (FRS 102) - A¢¢ounUng and Reportlng by Charill8$'. Ststement of Recommended Pra¢tlce appll¢able lo ¢harSlle8 preparlng Ihelr accounts In a¢¢ordan¢a Nvlth the Anan¢ial Reporting Standard appllcable In tho UK and RepubU¢ of lffjland {FRS 102) (effecaive 1 January 20151, the Financial R8portlng Standard appllcabb8 In the UK arKI Republic of Ireband (FRS 102) and the Charitl88 Act 2011. The flnancial stslements have been prepared lo gNe a 'true and fal¢ view and have departed from the Charlties (Accounts and Reports) Regulations 2008 only lo the extent requlred to provlde 8 'tru8 and fairf vlew. Thls departure has involved folk)wing the charleS SORP IFRS 1021 published on 16 July 2014 rather than the Accountlng and Reportlng by Chariuas: Statement of Recommended Practice effectfve from 1 Aprll 2005 which ha5 slnce been wlth(Irawn. The finand81 statements have beén prepared under th? hislodcal cost convontlon with t8mi$ recognlsed at C#J8t or transaction v81u8 unk88s othep*lse staled in Ihe relevant note8 lo th888 accounts. The Ilnandal statements have been preparad In accord8nce wlth the Statement of Recommended Practice.. Accounllng and Reportlng by Charltl85 preparfng Ihelr a¢ntS In accordan wlth the Finandal Reportlng Stsndard applICab In the UK and Republic of Ireland (FRS 1021 issued on 16 Juty 2014 and Financial Reportlng Stsndard appllcabla In tha Unlled Ktngdom arKI Republic of Ireland IFRS 1021 and Charities kt 2011. The FNller8r8 Foundation constitute8 a publlc b8nefft entlty as defined by FRS 102. 1.3 In¢om• All IncMe Is reco9nlsed once the charlty has entltlemenl to the Inu)me, It Is probable that the Income 111 be recelved and the amount of In(>)me rl¥abl& can be measured rellably. Income tax reo)verable In relaOn lo donallons rec4lved under Gfft Ajd or de8ds of covenant 18 re¢ognlsed at the tSme of th8 donallon. The recognition of income from legaaes dependenl on establlshlng entitlement, the probablllty of recelpl and the 8blllty lo estimate sufficient accuracy the amount receivable. Evldence of entilemenl to a leg8cy exlsts when the charity has sufficient evidence that a gift has been left lo them {through knowledge of the existence of a valld will and the death of the benefactor) and the executor 18 sattsfied that the property In questlon WAII not be requlred to Satisfy clalms In the e9tale. Receipt of a acY must be recc¥3nised vthen tt is probable that tt wll be received and the fair value of the amount recetvable. whlch wlll gener81ty be exIted cash amount lo be dlstrfbuted to the charty. Can be rellabty measured. Pag8 8
The Frnlterers Foundallon Note5 to tho financlal statements for the year ended 31 January 2021 Accountlng pollcles Icontlnued) 1.4 Expendlture ExndItUre is recognis8d once there is a legal C constructive obligation to transfer economic benefit to a third party. tt is probable that a transfer of economic beneffts VMII be raquired In settlement and the amount of the obligation can be measured reliabty. Expendlture is dassified by activity. The costs of ead) activity are made up of the lotal of direct costs and shared costs, induding support costs Involv in undertaking each activty. Direct sts attribLrtable to a single activity are allocated directly to thal activity. Shared costs which o)ntribule to more than one actiwty and support costs whSch are not attributable to a single acti are aptMNtioned betrn those aCtivaS on a basls consistent wlth Ihe use of resources. Central staff costs are allocated on the basi% of time sp8nt. and depreciauon argas allated on the porlion of the asseys use. Support costs are those costs inujrred directty in support of expenditura (x) the oblects of the tharity and indude projec management carried out at Headquarters. Costs of generating fvnds are costs in(3Jrred in attradng voluntary ino)me. and those incurred in trading aclmties that raise funds. Charitable actswts and governan ¢ts are Inrred on the chawg educational operatK)ns, Indudlng support costs and costs relating to the govemance of the charity 8PPOrtioned to charttable activities. Expendlture on ralslng funds Indudes all expendrture incurred by the charity to raise fijnds for Its (*witable purposes and indudes costs of all fundraising activllies events and norKtharitable trading. Expenditure on charitable activities is inujrred on directy undertakirMJ th8 activthes whlch further tha charitls objectsves. as well as any assodated support )sts. Grants pable are charged in the year when the offer made excepl in those cases where the offer is conditional, such grants being recognised as expendIre when the conditions attaching are fulfilled. Grants offered subject to condiknons which have not been met at year end are noted as a commltrnenL but not acCed as expenditure. All expenditure is indusive of irrecoverable VAT. 1.5 Investments Fixed asset investments are a fomi of financial instrument and are initially recognised at thelr transaction st and subsequenty measured at fair value at the BaLqnce sheet date. unlegs the value cannot be measured reliably in lch case it Es measured at eost less Impairrnent. Investment gains 8nd losses, whether realised or unrealised. are combined and presented in the heading as 'GainsllLosses) on investsnents. in the Statement of financial activibes. 1.6 Interest recefvable Interest on fijnds held on deF#)sf( Is induded when receivable and the amount can be measured reliably by the charity. this is nornially upon notlficatlon of the Interest pald (A payable bythe Bank. 1.7 Stc•cks Stocks are valu&Y at the lower of cost and net realisable value after making due alk)wance for obsdete and slow-mowng stcth. Cost indudes all direct cy)sts and an appropriate proportion offixed and Variab oveTheaJs. Page 9
The FNlterers Foundatlon Notes to the financial sLitements for the ended 31 January 2021 Aceountlng pollcles {contlnuedl 1.8 Debtors Trade and other debtors are recy)gnised at the settt8ment amount after any trade dts¢ount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and In hand Cash at bank and in hand indudes cash and short-tem hlghty liquid investments with a short mattsrity of three months or less from th& date of aeqursitton or opening of the deposit or similar account. 1.10 Llabllltles and provisions Liabilrties are recognised when there is an obligatK)n at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefft will be required in settiemenL and the amount of the settlement can be estimated reliabty. abilitses are recc¥Jnised at the amount that the charlty antiapat8s f( will pay to settle the debt or the amount It has receivwl as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obllgat(on. Where the effect of the time value of money i% material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwnding of the discount is recTr3nised in the Statement of financial activities as a finance cost. 1.11 Financlal Instruments The charity onty has financial assets and finandal Ilabllttles of a klnd that quafify as basic finandal instruments. Basic finanal instruments are inittally recognised at traTcth)n value and subsequent rneasured at their settiement value wth the exception of bank loans which are $ubsequently measured at amortised cost using the effective inierest method. 1.12 Fund accountlng Designated fvnds cfjmprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricaed funds are fvnds vhtith are to be used in accordance specific restridons Imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and admlnistering such funds are charged against the speufic fund. The ahn and use of each restrlcted fund is set out in the notes to the finanoal statements. Page 10
The Fruiterers Foundatton Note5 to the financlal statements for the year ended 31 January 2021 Income from donatlons and legacles Unrestricted funds 2021 Totsl funds 2021 Total funds 2020 Donations recelved 12,481 140.824 2.370 12881 140.824 2.370 18,857 Legacies Gift reclaim 1.396 Total 2021 155.675 155,675 20,253 Total 2020 20.253 20.253 Investment Income Unrestricted funds 2021 Total funds 2021 Totsl funds 2020 Income from thal Itsted investments 19.001 19,001 25.812 Total 2020 25.812 25.812 Analysls of donatlons made Unre$tri¢ted Restricted Donatlons Donatlons 2021 2021 Total funds 2021 Total funds 2020 Donalions 12,949 6.000 18,949 19,096 Total 2020 13.096 6.000 19.096 Page 11
The Frutterers Foundation Notes to the financlal statements for the year ended 31 January 2021 Analys18 of donat1(N made (ltInued) The tharity has made the followlng material grants to Inst[tu8 durfng year. 2021 2020 Name of institutlon TC Fox Fuel our Frontline Royal Tank Reglment Benevolent Fund MH Schol Stheme LM Appeal The Sons & Frlends of the Clergy BARTS Charity Friends of The City Churches The Sherlffs, & R8&)rdafs Fund Clty of London Pollce Wldow8' & Orphans. Fund Supporting Children wtth Dlabeles Lord Mayor Big Curry Lunch Favèrsham Munlclpal Charl8¥ UK Sepsls Trust VC Gallery Tha Brook• Hospital for Animals Poulters, Pellcan Trust RNIB HMS Anson Wowerton Part8h Councll 3.524 1250 1.IXIO 250 1.000 250 500 51XI 3,296 250 1.000 250 500 500 500 250 1,250 1,01)0 1,000 1,000 500 300 1,000 1,000 500 10,274 2,675 13.096 Other grants to Institutlon8 12,949 13.096 The Charity also made 8 donatton trn restr]¢ted funds In resport of Nuffield Farming Scholarshlps totalling £6,00012020.. £6.0001. Trustees, rnmuneratlon and oxp•ns•s During the year. no Trusteos received any Temungration or other benefits (2020 - £NIL). Durtng the year ended 31 January 2021, no Truste8 gXPgn50s have bggn incurred12020- £NIL). Page 12
The Fruiterers Foundation Notes to the flnancial statements for the year ended 31 Jantsary 2021 Flxed a*t Invèstmènts Llsted Inv•strnents Cost or valuation At 1 February 2020 Addillons Dlsposals R8valuation$ 1,160,276 365.504 {409,0141 38,824 At 31 January 2021 1,15S.590 N•t book valu• At 31 January 2021 1,155,590 Al 31 January 2020 1.160,276 Materlal Involtments Markol Valuo Book (>)st 2020 2021 Markol Value 2021 Book cost 2020 Fundsmlth LLP Equity Acc Polar Capilal Technology Trust JP Morgan As¥et Mgr8- US Equity Income 26,035 72,640 52.950 51,264 10,036 20,259 22,386 20,259 41,452 43,013 57,822 39,775 56,769 45,794 31,360 17,275 46.168 38.900 50.489 45,813 29,920 17.275 46,168 38,900 50.489 45.813 29.920 Polar Capital Fund Mailland Servlces Llmhed T Balley Fund Managers Link Fund Sdutions Aberdeen Standard Fund Managers Aberdeen Standard Fund Managers Ilndex Linkad) SVS Fund Admin TwontyFour Gk)bal Threadneedle Investments Findlay Park plc S¢hroder Unit Trust Managers Capita Financial Manager5 - Linkg Fund Solutions Other tnvostments 33.785 51,n4 31,541 29,760 29A24 30,757 28.328 50,803 28,475 29,511 28,553 29,907 10.165 43.844 20,485 21,092 10,107 24601 20.485 26.212 25.036 20,025 20.025 632 314 954 141 1141172 1 160 276 956 876 Page 13
Th8 FTuiterers Foundatlon Notes lo the flnancial slatements for the year ended 31 January 2021 stocks 2021 2020 Finished good8 and goods for resale 2,534 2,620 Dobtors 2021 2020 Du8 wlthin on• y•ar Prepayments and arxrued Sncome 314 314 Cradltorn: Amounts falllng duo wlthln onè yèar 2021 2020 Accruals and deferred nme 5,600 172 Page 14
The Fruiterors Foundation Noles to the tlnanclal statements for the year ended 31 January 2021 10. Statsment of funds Statement of funds - current year Balance at 1 February 2020 Balance at Gainsl 31 January {Lo810¥1 2021 Incom• Expendlture Unrestricted funds Charitable Trust Benevolent Soclaty Frult Culiurfj 256,855 149,011 808.199 1x009 2,767 20,826 (27,562) 14,095) 120.909) (48) 720 6,809 383,254 148A03 814,925 1,214,065 177.602 152,566) 7,481 1.346,582 R••trl¢tod fvnds Franklandg Glft Fund Nuffleld Scholarshlp 105 6,000 105 (8,000 6,105 (6,000} 105 Total of funds 1,220,170 1TI,602 <58,566} 7,481 1,346,687 8tst•m•nt of funds - prlor year Balance at 1 February 2019 B8lan¢e at G8ln81 31 January (Lo$$es} 2020 Income Expendfturo Unrnstrlct•d funds Charltable Trust Benevolent Socloty Fruit Culture 229,705 143.781 721,894 15,990 2,961 28,109 (12,8191 {3.8831 122.1961 23,979 6,152 80,392 256,855 149,011 808,199 1.095.380 47,060 138,898) 110.523 1,214,065 R•strlcted funds Franklands GWt Fund Nuffi8ld Scholarship 105 12,000 105 (6,000) 6,000 12,105 (6,000) 6,105 Total of funds 1,107,485 47,060 (44,898) 110,523 1,220,170 Page 15
The Fruiterers Foundallon Notes to the flnanGial statements for the year ended 31 January 2021 11. Sumrnary of funds Summary of fund$ - ¢urr•nt y•ar Balance at 1 February 2020 Balance at Gainsl 31 January (Loss•s) 2021 Income Expendltura Daslgnated funds Restricted funds 1,214,065 6,105 177.602 152,5661 (6,0001 7A81 1,346,582 105 1,220,170 177,602 {58.5661 7,481 1,346,687 Sumrnary of fundi - prior y•ar Balance at 1 February 2019 Balance at Galnsl 31 January ILoss881 2020 Income Expenditure De8lgnaled funds Reslrlcted funds 1,095,380 12.105 47.060 {38,898} 16,0001 110.523 1,214,065 6,105 1,107,485 47,060 144,8981 110,523 1.220,170 12. Analys18 of net asi•ts bgtwoon funds AnatyAi$ of net assets bgtween fund• - curr•nt Porlod Unrestrlcted R08trlctod funds fund8 2021 2021 Total funds 2021 Fixed asset Investments Currant assets Creditors due wllhln one year 1,155,590 196,592 15,6001 1,155.590 196,697 (5,600) 105 Total 1,346,582 105 1,346,687 Pag&16
The Fruiterers Foundatlon Notes to the flnancial statements for the year ended 31 January 2021 12. Analysls of net a55ets between funds (continued Analy818 of net assets between funds - prior Fwiod Unrestrrcted funds 2020 Restrfcted funds 2020 Total fvnds 2020 Fixed asset Investments Current assets Creditors due Ythhin one year 1.160.276 53,961 1172) 1.160,276 60.066 11721 6.105 Totsl 1.214.065 6.105 1,220,170 Designatsd Funds- Benevolent Soclety In 2009, The Wholesale Fruit arKf Potsto Benevolent Society transferred its assets and liabiliti8s tolalling £192,046 into the Charitable Trust. The Trustees, decid8d to categories these funds as a separate unrestricted fund, whith is lo be used in order to continue the objectives of the Benevolent lety, being to provide grants to tts beneficiaries. Restrlcled Funds The Franklands Gsft Fund was created to Supp the needy of th8 Company and those assoKiated with it. In the year ended 31 January 2019. a donation was received from an anonymous donor to be used for Nuffield Scholarships. 13. Related party transacuons There were no related party transactiorts durtng the yBar. or outstanding related party balances at the Balan Sheet date. Page 17