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<br>**Total  £**|**2021**<br>**£**<br>5,161<br>**5,161**|**2020**<br>**£**<br>238,364<br>**238,364**|
|---|---|---|



## **5.3 Creditors: amounts falling due within one year** 

|**2021**<br>**£**<br>Accruals<br>3,050<br>**Total  £**<br>3,050|**2020**<br>**£**<br>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