GFG FOUNDATION TRUSTEES’ ANNUAL REPORT NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021
| 6. | EMPLOYEES & VOLUNTEERS | ||
|---|---|---|---|
| The | average number of employees during the year was: | 1 (2021) | 1 (2020) |
| The | number of volunteers (including trustees) during the year was: | 20 (2021) | 20 (2020) |
| 5. | NET CURRENT ASSETS |
Cash and Cash equivalent
Cash and cash equivalent includes cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
| Bank operating accounts Total £ |
2021 £ 5,161 5,161 |
2020 £ 238,364 238,364 |
|---|---|---|
5.3 Creditors: amounts falling due within one year
| 2021 £ Accruals 3,050 Total £ 3,050 |
2020 £ 31,966 |
|---|---|
| 22,100 |
6. RELATED PARTY TRANSACTIONS
Transactions with related parties
The foundation was under the control of the Trustee throughout the current year.
During the year the Foundation did not enter into any transactions with related parties (2020: £608 was paid to CS Management Ltd, during the year, a company of which Sanjeev Gupta is a director).
In addition, £43,697 (2020: £75,1533) of donated goods and services were paid for Wyelands Capital, Liberty Commodities Ltd, Liberty Steel UK Limited, GFG Alliance; all companies of which Sanjeev Gupta is director.
Donations of £190,000 (2020: £190,000) was received in the year from Sanjeev Gupta who is a trustee of GFG Foundation.
© GFG FOUNDATION, 2021. All rights reserved.
ref : | Annual Report 2021 | page: 16