## ## ## |||||Popes| |---|---|---|---|---| |Tmstees'
Report||||1-3| |Independent|Examtner's||Report|| |Statement
of|Enanclal|actlvltles||| |Balance sheet||||| |Statement
of|cash flows|||| |Notes to the accounts||||8-12| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---| ||||||Note|Unrestricted
6|Restricted
6|Total
6|Totalf| |Income from:|||||||||| |Donations||||||9,116||9,116|11,149| |Investment
income|||||||||613| |Total income|||||||||| |Expenditure
on:|||||||||| |Raising Funds:|||||||||| |Charitable
acbvities:|||||||||| |Charitable
donations|||||||100,000|100,000|200,000| |Property expenses|||||||||6,623| |Data storage expenses||||||9,116||9,116|| |Legal and professional||fees|||||||28,393| |Admln costs|||||||||1,768| |Total expenditure|||||||||| |Net Income / (expenditure)||||and net|||||| |movement
In funds|||||||(100,000)|(100,000)|(225,022)| |Reconciliation
of|funds:||||||||| |Total funds brought|forward||at 1st April 2020||||474,978|474,978|700,000| |Total funds carried forward|||at 31st March 2021||||||| ## ## |THE TERRY FARRELL FOUNDATION||||||||| |---|---|---|---|---|---|---|---|---| |Statement ofcash flows||||||||| |For the year ended 31March 2021||||||||| |||||Note|2021|2021|2020|2020| ||||||5|5|5|5| |Net cash provided
by / (used in) operating|||activities|10||(100,000)||(225,022)| |Cash flows from Investing activities:||||||||| |Interest/
rent/
dividends
from Investments||||||||| |Cash provided
by / (used in) Investing||activities||||||| |Cash flows from financing
activities:||||||||| |Proceeds on disposal of Investment
property||||||||| |Cash provided
by / (used In) financing||activities||||||800,000| |Change
in cash and cash equivalents|in the||year|||(100,000)||574,978| |Cash and cash equivalents
at the beginning||ofthe year||||574,978||| |Change
in cash and cash equivalents
due to||exchange rate||||||| |movements||||||||| |Cash and cash equivalents
at the end|ofthe||year|||474,978||574,978| |THE TERRY FARILELL FOUNDATION|THE TERRY FARILELL FOUNDATION|| |---|---|---| |Notes|to the financial statements|| |For the year ended 31March 2021||| |1|Accounting
policies|| |a)|Basis ofpreparation|| ||The flnandal
statements
have
been
prepared
In accordance
with
Accounting
and
Reporting
by Chanties:
Statement
of Recommended|| ||Practice appgcable
to charities
prepanng
their accounts
in accordance
with the I-inandal
Reporgng
Standard
applkable
In|the
UK and| ||Republic ofIreland (FRS 102)- (Charities SORP FRS 102).|| ||The charitable
incorporated
organlsatlon
meets the deflnNon
of a public benefit enbty
under
FRS 102. Assets
and lbbgrties|are Inltlagy| ||recogrgsed at historical cost or transaction
value unless otherwise
stated
in the relevant
accounbng
pogcy or note.|| |b)|General Information
The charity
is a chantable
Inmrporated
organlsatlon
(CIO), incorporated
in England
and Wales ( charitable
incorporated
organisation
registration
number
1t74437). The
charitable
incorporated
organisauon
was
incorporated
on 31 August
2017. The
charitable|| ||Incorporated
organlsatlon's
registered
office address Is: 9 Hatton Street, London. NW8 8PL|| |c)|Going concern
The trustees
consider
that there are no material
uncertainties
about the charitable
inmrporated
organisation's
abigty to continue
as a|| ||going
concern.
The bustees
do not consider
that there are any sources
of esbmatkn
uncertainty
at the reporbng
date|that
have a| ||significant
risk ofcausing a matmial
adjustment
to the carrying
amcunts of assets and gabilitles
within
the next reporting
period.|| |d)|Income
income is recognised
when the charitable
inmrporated
organisatlon
has entitlement
to the funds,
any performance
conditions|attached
to| ||the income have been met, lt Is probable that the Income will be received
and that the amount
can be measured
reliably.|| ||Income from government
and other grants,
whether
'capital'
grants or 'revenue'
grants,
Is remgnised
when
the chadtabk
incorporated
organisagon
has entitlement
to the funds,
any performance
conditions
attached
to the gmnls
have been
met,
It Is probable
that the
income
wgl be received
and the amount
can be measured
relfably
and is not deferred.
Income received
in advance
for the provision
of|| ||specified servke ls deferred
untg the crltena for Income recognigon
are met.|| |e)|Donations ofgifts, services and facilities
Donated
professional
services and donated
fadlltles are recognised as income when the charitable
incorporated
organlsatlon|has contrd| ||over the item or received the service, any conditions
associated
with the donation
have been met, the receipt of economk|benegt from| ||the use by the charitable
incorporated
crganbaticn
of the Item
is probable
and that economic
benefit
can be measured
regably.
In
accordance
with
the
Charities
SORP (FRS 102), volunteer
time
ls not recognised
so refer to the trustees'
annual
report
for more|| ||information
about their contribution.|| ||On receipt, donated
gifts, professkmal
services and donated
fadlities are recognised
on the basis of the value ofthe glR to the charitable
Incorporated
organisation
which
Is the amount
the charitable
incorporated
organlsatlon
would
have been wgling to pay to obtain services|| ||or fadlltles of equivalent
economk
benefit on the open market; a corresponding
amount
Is then recognised
In expenditure|In the period| ||of recrgpb|| |f)|Interest receivable
interest
on funds
hrdd on deposit
ls Included
when
receivable
and the amount
can be measured
regably
by the charitable|Incorporated| ||organlsatlon;
this is normally
upon notiRcatlon
of the interest
paid or payable
by the bank.|| |g)|Fund accounting
Unrestrkted
funds
are
avagable
to spend
on acttvhies
that
further
any of the
purposes
of charltaNe
Incorporated|organlsatlon.| ||Designated
tends are unrestricted
funds of the charitable
Incorporated
organisatlon
whkh
the trustees
have dedded at ttxgr|dlscregon
to| ||set aside to use for a spedgc purpose.
Restricted
funds are donations
which the donor has speciged are to be srgely used|for particular| ||areas
of the
charitable
incorporated
organlsatlon's
work
or
For spedlic
projects
bang
undertaken
by the
charitable|incorporated| ||organlsatlon.|| |h)|Financial
Instruments
The
charitable
Incorporated
organisatlon
only
has
financial
assets
and
Rnandal
gabgiges
of a
kind
that
qualify
as bask
financial|| ||instruments,
Basic flnandal
instruments
are Ingially recognised
at transaction
value and subsequently
measured
at their settlement
value|| ||with the exception of bank loans whkh are subsequently
measured
at amorttsrd
cost using the elyective Interest method.|| ## ## ## ## ## ## ## ## ||||||||2020|2020|2020||| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Unrestrkted|Restrkted|Total||| ||||||||6|6|E||| ||Income fram:||||||||||| ||Donaucn s||||||11,149||11,149||| ||Investment
income|||||||613|613||| ||Total income|||||||613|11762||| ||Expenditure
on:||||||||||| ||Raising Funds:||||||||||| ||Charitable
actMtles:||||||||||| ||Chadtable
donations||||||||200,00D||| ||prcpeny expensm||||||6,623||6,623||| ||Legal and pro/esslonal||fees||||2,758|25,635|28@93||| ||Admln costs||||||||I768||| ||Total expenditure||||||||||| ||Net income / (expenditure)
before
gains/ (losses) on Investments|||||||(225,022)|(225,022)||| ||Net qains
/ (losses)|on|Investments||||||||| ||Net movement
ln|funds||||||(225,022)|(225,022)||| ||Total funds brouqht|forward||||||700,000|700,000||| ||Total funds carried forward||||||||||| |3|Income from donations|||and Gifts|||||||| |||||||||2021|2020||| ||||||UIxestd cterl||Restricted|Total|Total||| ||||||1||E|6|1||| ||||||9,116|||9,116|11,149||| |4|Income from Investments|||||||2021|2020||| ||||||Unrsstrkted||Restriaed|Total|Total||| ||||||E||E|6|1||| ||Interest||||||||613||| |5|Analysis ofexpendltures||||||||||| |||||||Charitable|actlvlues||||| ||||||Cost of raising
funds|Newcastle|University|Support costs||2021Total|2020 Total| ||||||E|||||6|E| ||Direct costs||||||100,000|||100,000|200,000| ||Travel and subsistence||||||||||1,768| ||Assodated
costs on disposal
Data storage expenses|||||||9,116||9,116|25,635| ||Legal and professional||fees||||||||2,758| ||property
expenses||||||||||6,623| ||||||||100,000|9,116||109,116|236,784| ||Suppolt costs||||||9,116|(9,116)|||| ||Governance
costs||||||||||| ||Total expenditure|2021||||||||~109116|~236 784| ||Total expenditure|2020|||||||||236784| ## ## ## ## |8|Creditors: amo|unts|falling due|within one yea|r|||||| |---|---|---|---|---|---|---|---|---|---|---| |||||||||2021||2020| |||||||||6||6| ||Other creditors|||||||100,000|100,000|| |9|Movements
In|funds||At the start of||Incoming
resources 8|Outgoing
resources 8||At the|end of| |||||the|year|gains|losses|Transfers|the year|| ||||||6|6|1|6||6| ||Restricted funds:|||||||||| ||Newcastle
University|||474,978|||(100,000)||374,978|| ||Total restricted|funds||||||||| ||Unrestricted
funds:|||||||||| ||Designated
funds:|||||||||| ||Total designated|funds||||||||| ||Generalfunds|||||9,116|(9,116)|||| ||Total unrestricted||funds|||||||| ||Totalfunds|||||||||| ## |ort|he year ended 31|March 202|1|||||| |---|---|---|---|---|---|---|---|---| |10|Reconciliation of|net Income|/ (expenditure)||to net cash flow from opemtlng|activities||| ||||||||2021|2020| ||||||||E|6| ||Net Income / (expenditure)||for the reporting||period||(100,000)|(225,635)| ||(as per the statement
offinancial activities)|||||||| ||Interest,
rent and dividends
from investments|||||||613| ||(Increase)/ decrease|in debtors||||||| ||Increase/
(decrease)|in creditors||||||| ||Net cash provided|by / (used In) operating||activities||||| ## ##