Charity re9lStralion number.. 1178930 The Gareth Neame Foundation Annual Report and Financial Slalemenls for the Year Ended 31 March 2021 DSK Partners LLP 75 Park Lane Croydon Surrey CR9 1XS
The Gareth Neame Foundatlon Contents Refence and Adminislralrve Details Trustees, Report 2105 Independenl Examinerfs Report Stslomenl of Financial Aclivrties Slglemenl of Financial Pos¢tion Notes lo the Financial Statements 91014 Detailed Slatèrnenl of Financial Aclivrts 151016
The Gareth Neame Foundation Reference and Administrative Details Trustees B Wilh'ams C StolhaTd G Neame W T¢)wnrow Prlnclpal Office Elsley Court 20-22 Great TitChfld Street London W1W 8BE Charlty Reglstratlon Number 1178930 Règlstered CIO number CE014426 Independ•nt Examln•r DSK Partners LLP 75 Park Lane Croydon Surrey CR9 1XS Page 1
The Gareth Neame Foundation Trustees. Report The Iruslees present their report wrth the financial slalemenls of the charrty for the year end 31 March 2021. The tnjstees have adopted the provisions of Accounting and Reporting by Charities. Statement of Recommended PraclKe applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS 1021 leffeclive 1 January 20191. The Iru51ees present the annual report together vthh Ihe financial slalemenls of the charty for the year ended 31 March 2021. The accounts have been prepared in accordance wtth the accounting policies set out in note 110 the accounts and eompty wrth the governing document. the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommertded Pr8¢tise applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021" las amerKJed lor actrntIng periods commencing from 1 January 20161. Ob5•ctlves and actlvltles Objectlves and pollcles The principal objective of the charty is to appty income and all or such part or parts of the capital of the CIO, al such lime or times and in such manner lo. or lor the benefit of such exclusively charitable objects and purposgs in any part of the world as the trustees may in Ihwr discretion think fil. Publ1¢ b•n•flt Trustees have paid due regard lo the guidance on public benefil prtsjuced by the Charity Commission and are confident that the work of the eharity meets all the ¢rrteria for public bgnefrt. Grnnt maklng pollcl•s The Irusl8e$ consider grant making an effective means of achieving the charity's objects lor the public benefit lo improve the conditions and INes of people through educalion. advice and training. All grant proposals musl be made in wriling. Proposals musl explain in detail how the grant will be used and pul forward a sIr9 case lor support. The Charity Iwslees welcome proposals that support their funding priorities from organisations and individuals. akhough the charrty tTUStees are particularfy keen lo support the Landmark Trust, the Combined Cadet Force Association. the Bniish Acasjemy of Film and Television Arts, the Trinity Laban Conservaloire, the Royal Central School ol Speech and Drama, T¢)Jelher for Short Lives and the Pallanl House Gallery. Page 2
The Gareth Neame Foundation Trustees. Report Achlevements and perfomiance Key fln*ncial perfomiance indicators The charity trustees will lake steps lo monitor the use of Ihe grant and verify that the grant Is used for the purposes that have been agree<l. The arrangements for monrtoring will vary according lo the nature of the granl, bul the ¢haftty Irustees will aayS seek to ensure that the arrangements are appropriate and proportionate. Arrangements for monrtoring use of the grant may include asking the recipient to piovide copies of formal records.regular written or verbal updales showing progress lo dale, management accounts lo show that funds have been used for the purpose for which they have been awarded and in accordance with the terms of the grant and a final wrrtten report on completion of the work funded by the grant. Revlèw of actlvltie8 During the period. the charity received total donations of £94,¢XKI from Garelh Neame ITfusleel. The charity supported twefve different organisations in the year. wlh donations made lolalling £59,000. In line wrth the charity's objectives Ihe trustees rne a £10,000 donation lo the Royal Central School ol Speech and Drama. a £8.000 donation to the Bafta. a £S,000 donation lo the Fishmongers Campaign. a £5,000 donation lo the Trinity Laban Conservaloire, a £2,000 Dividend Income Combat Stress. a £6.000 donation lo the Landmark Trusl. a £1.000 donation lo the Pallanl House Gallery. a £5,000 donalion lo the TGFSL. a £500 donation lo the Romney Marsh Historic churches. a £1,000 donation lo the Royal British Legion. a £2.500 donalK)n lo the South Downs National Park, a £2,000 donation lo the 69 8rook Sl Trust and a £11,000 donation lo the A2B. Flnanclal r•vlew Al the slalemenl of financial position dale. the funds available for dislribLrtion were as follows.. £518.310 ol unreslricled funds." £NIL of restncled lunds. Prlnclpal lundlng sources The foundation is primarity lunded by Gareth Neame. Pollcy <>n reseryes The trustees aim to maintain reserves at a level 4thi¢h would cover any future commrtmenls or expenditure. The Iruslees consider that the amount of reserves wll diclale future donations and will consist of donations received by the charty which are yel lo be don81ed lo Individual charrties and Causes. The reserves al the end ol the financial period were £518,310. Going concern After making appropriate enquiries. the trustees have a reasonab expectat that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. For this reason they continue lo adopt the going concern basis in preparing the finan¢ial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. Page 3
The Gareth Neame Foundatlon Trustees, Report Future d¢velopment The funfjing of the charity will continue lo be rewthved. The trustees expecl lo make donations lo organis*ions and individuals th the aim of improving the lives of indNiduals, in line with the eharills objectives and aims. Structure, 9ovèrnanc¢ and management Nature ol governlng document The charity is controlled by ils goveming dc<ument. a deed of trust and conslilules an uninmrporaled charity. Constitution The charity is an inc0rate<l foundation. conslrtuted under 8 Foundation Constrtutson dated 26 June 2018 and 1$ a rogislered charty in the United Kingdom. charrty number 1178930. RKrultrnent •nd appolntment of truste•s The management of the charty is the responsibilty of the trustees who are elecled and co-opted under the terms of the Charitabl8 Incorporated Organi$alion Constitution. Oryanisatlonal structurn and d•clsion maklng Al the annual Iruslees, meeting. the Iruslees agree the board strategy and areas of activity for the foundation. including consideration ol grant making, investment. reserves and risk management policies and performance. The day to day adminislralion of d¢)nalions is delegated lo the adminislralor. Inductlon and tralnlng of trustees Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their fole. Spe¢ifie training is conducted as part of a board meeting where appropriate. Page 4
The Gareth Neame Foundation Trustees. Report Relationships with relatedpartles Garelh Neame, a Irustee. made donalKins lotalling £94,0 to the foundaion during the period. Trustee s responsibility statement The trustees are responsible lor preparing the Trustees, Report and the financial statements in aecordance with applicable law and United Kingdom Accounting Stsndards Iuniled Kingdom Generally Accepted A¢countin9 Pra¢li¢el including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK arKI Republic of Ireland" The law applicable lo charities in England and Was, the Charrties A¢t 2011. Charity IAccounts and Reports) Regulations 2008 and the provisions of the trust deed requi$ the Iruslees lo prepare rinancial slalemen15 for each financial year which give a true ané fair vie+V of the stale of affairs of the charity and of the incoming resources and application of resources. including the income and expendrture. of the charrty for that perK)d. In prepanng those financial stalemenls, the Iruslees aro required lo select surtable aceounling policies and then apply them ¢onsislenlly'. observe the method5 and pnnciples in the Charty SORP.. make judgements and eslimales that are reasonab and prudent, prepare the financial slalemenls on the going concem basis unles5 rt is inapprcpriale lo presume that the charity will continue in business. The Ifuslees are responsible for keeping proper accounting records which disclose wrth reasonable accuracy al any time the financial position of the ¢harily and lo enable them lo ensure that the financial slalemenls compty with the Chanties Acl 2011, the Charty (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the a$5els ol the charity on¢J hence for tsking reasonable steps for the prevention and detection ol fraud and other irregularilKgS. The annual report was apwoved by the Iruslee3 of the Chafrty on beham by". 1.411 .[1..1 and signed on ils B Williams Trustee Page S
The Gareth Neame Foundation Independent Examinevs Report to the trustees of The Gareth Neame Foundation I report lo the chanty trustees on my examinath)n of the accounts of the charity for the year ended 31 March 2021 which are Set out on pages 7 10 14. ResctIVe rn$pon$ibilities of trusteès and examinèr As the charity's trustees of The Garelh Neame Foundation you are responsible lor the preparation of the accounts in accordance wrth the requirements of the Charities Act 2011 1.the Act'l. I feport in respect of my examination of the The Garelh Neame Foundation 's accounts carried out under sedion 145 01 the 2011 Act and in carNng out my examination I have followed all the applicable Directions given by the Chanty Commtssion under seclh)n 14515llbl of the Act. Independent oxamin•r'$ $tst•m•nt I have completed my examination. I confirn Ihat no malefial matters have come lo my attention in connection wrth the examination gwing me cause lo believe that in any matenal respect.. 1. accounting records were not kèpl in respect of The Gareth Neame Foundation as required by section 130 of the Act, or 2, the accounts do not accord wrth those records,. or 3. the accoLsnls do not comply wrth the accounting requirement$ concerning the form and content of accounts sel out In the Charitio$ (AOUnt5 and Reportsl RegulalTrons 2008 other than any requirement that the accounls give a 'lrue and fair which is not a matter considered as part of an independent examination. I have no concerns and have rne across no othef matters in connection with the examination lo which allenlion should be drawn in this report in order lo enèble a prcper understanding of the accounts to be reached. Romit Basu FCA DSK Partners LLP 75 Park Lane Croydon Surrey CR9 1XS 1411012021 Page 6
The Gareth Neame Foundation Statement of Financial Activities for the Year Ended 31 March 2021 Unr8strl¢ted funds Totsl 2021 Total 2020 Notè Income and Endowments frorn: Donations and legacie5 Investment income Nel gainlloss on investment 117.500 2.692 74.855 117,500 2,692 74,855 55,000 2,931 17,709 Total income 195.047 195.047 40.222 Expendlture on: Raisin9 funds Charitable aclivilies Other expendilurg (3.6791 167.7201 13.6791 167,7201 13.5671 170.5661 60 Total expendilu 71,404 171,404 174,193 Net lncomellexpendilu) 123.643 123,643 33,971 Net movement in funds 123.643 123.643 133,9711 Re¢on¢lllallon of funds Totsl fund5 brought forward Total funds carrpd forward 394.667 394,667 428,640 $18.310 518,310 394.669 All of the chanty's activrties derive from continuing operations during thè above tr40 periods. The funds breakdown for 2020 18 shown in note 9. Page 7
The Gareth Neame Foundation (Registration number: 1178930) Statement of Financial Position as at 31 March 2021 2021 2020 Note Fixed assets Investments 426.262 331,250 Current assets Cash al bank and in hand 96,408 66,229 Credltors: Amounts falllng due wlthln one year N•t current assets 4,360 2,810 92,048 63.419 Net assets 518,310 394,669 Funds of the charlty: Unrestricted in¢om• funds Unrestricted funds 518.310 394,669 Total funds 518.310 394,669 nci81 st81ements on pages 7 10 14 wèrè approved by the Iruslees, and aulhorised for issue on .l41. f.Ll. and signed on their behalf by.. B Wilfiams Twslee Page 8
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 March 2021 1 Accountlng policles Statement of compllanco The financial statements have been prepared in accordance with A¢ntIng and Reporting by Charities.. Slalemenl ol Recommended Practice appIable to charit$ preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of lleland IFRS 1021 leffeclive 1 January 20191- (Charrt$ SORP IFRS 10211. the Financial Reporting Standard applicab In the UK and Republic of lieland IFRS 102} and the Charits Ael 2011. Basi$ of preparatlon The Garelh Neame Foundion meets the definrtion of 8 public benefrt enlty under FRS 102. Assets and liabilities are inrtially recogni5ed 81 historical cost or transaction value unless otherwise slated in the relevant accounling policy notes. Currency The financial statements are prèpared in sterling which VJ also the functional currency of the charty and rounded lo the nearest pound. Golng con¢•rn The financial slalemenls have been piepared on a going concem basis as the Iruslees believe that no material uncertaintigs exist. The Iruslees have considered Ihe level of funds held and the expected level ol Income and eXpendrtu for 12 months from aLrthorising these financial stalemenls. The budgeted income and eXpendrtU is sufficient along Wrth the level of reserves for the charity lo be able lo continue as a going concem. Page 9
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 March 2021 Income and endovmionts All income is recogni5ed in the Slalement of Financial Adivities once the charity has entitlement to the funds. rt is probable that the income will be received and the amount can be MeaSud reliably. For lega¢i¢s. enlilloment is taken as the eadief of the dale on whh erther.. the chanty is aware that probate has been granted. Ihe estsle has been finalised and n0lrficatn has been made by the execulorlsl to the trust that a distribution will be made. or when a distribution is received from the estate. Receipl of a legacy. in whole or in part, is onty considered probable when the amount ¢an be measured reliably and the ehanty has been notrfied of the executor's intenlK)n lo make a distribution. Where legacies have been notified to Ihe charrty. or Ihe charity is aware of the granting of probate, and the crilena for Income wognrtion have nol been met. then the legacy is treated as 8 conlingenl asset and disclosed if material. Donated services or facilities are recognised when the charity has control over the item, any conditions associated wrth the donated item have been mel. the receipt of economic benefrt from the use of the charrty of the rtem 15 probabb and Ihat ecormi¢ benefrt can be measured reliably. On receipt, donalgd professional services and donated faeilrties are recognised on the basis of the value of the 9ift lo the charity which is the amount the charty would have been willin9 to pay lo obtain services or facilities ol equivalent economic benefil on the open market.. a corresponding amount 1$ then recognised in expenditure in the poriod ol receipt. Income tax recoverable in relation to donations received under Grfl AMI or deeds of covenant 16 recognised al the lime of tho donatn. Income lax recoverable in relation lo investment income is recognised at the lime the investment income is receivable. Exp•ndltur• Liabilities are recogni5ed as expendrture as soon as there ts a legal or constructive obligation eommitting the charity to th81 expenditure, it is probable Ihal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is a¢¢ounted for on an accruals basis and has been classrfied under headings Ihal a99regate all cost related lo the category. Where costs cannol be directly attribuled to particular headings they have been allocated lo aclivrties on a basis consistent the use of SoUrCes. Costs of generating ftjnds are costs incurred in attracting voluntary income. and those incurred in trading activrties that raise funds. Charrtable aelivrties and govemance costs are costs incurred on the charitys operations, including support costs and co$1$ relaling to the govemance of the chanty apportioned lo charitable acli¥nties. Grants payable are charged in the year when the offer is made except in those ca$0$ where the offer is conditional, such grants being recognised as expendrture when the conditions attaching are fulfilled. Grants offered subject lo condrtions which have not been met at the year end are noted as a commitment, bul not accrued as expendrtijre. Page 10
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 March 2021 Taxatlon The charity 1$ exempl from lax on its charitable activit$. Fund structure Unreslricled funds can be used in accordance with the charitable objectTves al the discretion of the trustees. Reslrieted funds can onty be used for particular reslricled purposes within the objects of the charity. Restrictions arise when spe¢rfieil by the donor or when funds a raised for particular restricted PUTPOSes. Further explanation of the nature and purpose of each fund 1$ included in the notes lo the financial statements. Investments Fixed asset inveslmenls are a form ol financial instrument and are inilialty re¢ognised al their transaction cosl and subsequenlty measured al lair value at the statement ol financial position dale, unless lair value cannot be measured reliably in which case it is measured al cosl less imp8irmenl. Investment gains and losses, whelher T8alised or unrealised. are combined and shown in the heading 'Gainslllossesl on investments, in the statemenl of financial aclivilies. 2 Investment Inc¢1¥ Unltrict funds Gengral Total 2021 Total 2020 Interest receivable and similar inMe. Interest receivable on bank deposFts Dividend income 2.692 2.692 2,925 2,931 2,692 2,692 3 Expendlture on raising fund$ al Investment management costs Page11
The Gareth Neame Foundation Notes to the Flnan¢ial Statements for the Year Ended 31 March 2021 Unrestri¢t•d funds General Totsl 2021 Total 2020 Other investment management costs, Other portfolio management cost5 3.679 3,679 3,567 3,679 3,679 3,567 4 Exp•ndlture on charltable actlvltles Unrestrict funds General Total 2021 Total 2020 Grant funding of activities Govemance costs 59.000 8.720 59.000 8.720 67,000 3,566 67.720 67.720 70,566 Page 12
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 March 2021 S Othfrr expendlture Unre5trlcted funds General Total 2021 Total 2020 Allocated support ¢osts 60 60 6 Tru$te•s remuneratlon and expenses There were no Iruslees, remuneration ot other benefits for the year ended 31 March 2021 nor for the period ended 31 March 2020. Truste•8' •xpgns There were no Iruslees, expenses paKI lor the year ended 31 March 2021 nor for the period ended 31 March 2020. 7 Flxed assèt Investmonts 2021 2020 Other investments 426.262 331.250 Included within £426,262 of Unlisted inveslmenls is £74.855 of unrealised gains. Olh•r Invèstments Unllsted nvKtmonts Total Cost or Valuatlon Al 1 April 2020 Revaluation Addi(ion$ Disposals 331.249 74,855 203,765 183.607 331,249 74,855 203.765 183.607 At 31 March 2021 426.262 426,262 Net book valu• At 31 March 2021 426.262 426,262 Al 31 Maich 2020 331,249 331.249 Page 13
The Gareth Neame Foundation Notes to the Financial Statements for the Year Ended 31 March 2021 8 Crgdllors.. amounts falllng due wlthin one year 2021 2020 Accruals 4.360 2,810 9 Funds 8alan¢o at 1 April 2020 Incomlng resour¢•s Resources expended Balance at 31 March 2021 Unr•slrlcted funds General 394,667 120,192 3.451 518,310 Balance at 1 April 2019 Incoming resources Re$our¢e¥ expended Balancg at 31 M¥r¢h 2020 Unrèytrlcted funds General 428.640 57,931 91.902 394.689 10 Related party tr*nsactionB During the year. the charty reeeived a donation of £94,000 from Gareth Neame, a trustee. Page 14
The Gareth Neame Foundation Detailed Statement of Financial Activities for the Year Ended 31 March 2021 Total 2021 Total 2020 Incom• and Endowments from.. Donations and legacies lanalysed bebwl Investment income lanatysed bel¢)wl Olhey income lanalysed below) Total income 117,5¢JO 2.692 74.855 55,000 2,931 17,709 195.047 40.222 Expenditure on.. Raisin9 funds lanaSed belthyl Charitable activities lanatysed belcM} Other expenditure lanalysed behjwl Total expendrture 13.6791 (67,7201 15 13,5671 170,5661 60 {71.4041 74.193 Nel incomellexpen¢Jilurel Nel movement in funds 123,643 33.971 123.643 133.9711 Roconclllatlon of funds Total funds brought foN4ard Total funds carned forward 394,667 428,840 518,310 394,669 Page 15
The Gareth Neame Foundation Detailed Statement of Financial Activities for the Year Ended 31 March 2021 Total 2021 Total 2020 Donations and legacles Gift ak Donation 23.500 94.000 11,000 44,000 117.500 55,000 Investment income Bank deposrt account interest DNidend income 2,692 2,925 2.692 2,931 Other Income Nel gains on Investment 74.855 17,709 74,855 17,709 Ralslng funds Portfolio management $t5 3,679 3.567 13.679 3.567 Ch4rlt•ble 4¢tlvltioS Grants payable Institutions Aceounlancy and legal fees Auditors, remuneration 159,CQOI 16,1701 2,550 167,0001 11,0161 2,550 67.720 70,566 Other expendltur• Bank charges 60 60 Page 16