## **ParGolf International Foundation** ## **Trustees Annual Report for the year ended 31 December 2020.** The Trustees present their report and accounts for the initial period to 31 December 2020. ## **Charity Information:** ParGolf International Foundation was registered by the Charity Commission on 7 December 2018. Registration number: 1181041 Principal office: c/o Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES **The Trustees** serving during and since the period end were as follows: A M Jones-resigned 2 September 2021 K I McCartney C P Tracey J P Yapp ## **Charitable objectives and activities** The objects of this Charity are for the public benefit, to promote the playing of golf as a means of: - Advancing amateur golf - Advancing education by developing the mental, physical, and moral capabilities of individuals through participation in golf as a leisure activity and - Promoting participation in healthy recreation ## **Structure, governance, and management** ParGolf International Foundation is constituted as a Charitable Incorporated Organisation (constitution document dated 7 December 2018) and set up by three Trustees. The Trustees manage the Charity and appoint new Trustees up to a maximum of ten in number. Trustees must be a natural person and have the skill knowledge and experience for the effective administration of the Charity. New Trustees are appointed for fixed three-year terms and undergo an orientation to brief them on their legal obligations under charity law, the constitution, objectives, and decision-making processes. 1 ## **ParGolf International Foundation** ## **Trustees Annual Report for the year ended 31 December 2020.** ## **Structure, governance, and management continued** ## _Grant making policy_ This charity primarily promotes its objects through grant funding organisations (UK and International) whose operations involve golf and are aligned with the charity’s purposes. Decisions to grant fund organisations are made by the Trustees. The Trustees have appointed a Chief Executive to manage the business and operation of the Charity. ## **Achievement and Performance** The Charity has been dormant since set up to 31 December 2020 with set up costs and small administrative expenses of £14707 incurred. There has been no income and set up/administrative costs have been funded by supporters of the Charity who will be repaid once funds are generated. The small number of Golf related (and other) events to raise funds were abortive in 2020, due to Covid 19 but with no loss to the Charity. The Trustees have due regard for their responsibilities to the Charity Commission to deliver public benefit within the objectives. ## **Going concern and plans for future periods** _._ The Trustees are well aware of the deficit on set-up, which in normal circumstances would have been a planned short-term issue, as anticipated activity in 2019 and 2020 to generate funds would have paid off set-up costs and the Charity would have started making grants to satisfy its objectives. Covid-19 has significantly further interrupted the process in 2020 and 2021, meaning that plans for income generation and operational activity are to be put back to 2022, as and when Covid 19 restrictions allow. ## **Reserves Policy** The Charity does not currently have a reserves policy as it is not fully operating, but Trustees are aware that some funds need to be retained where: - a) Grants have been made that require contribution in future years - b) Working capital is needed for future events that are planned to generate income. By order of the Trustees - 25 October 2021 2 ## **ParGolf International Foundation** ## **Receipts and Payments accounts** ## **For year ended 31 December 2020.** ||Total|| |---|---|---| ||Funds|| ||£|| |Receipts||0| |Asset and Investment sales||0| |||| |**Total Receipts**||**0**| |||| |Payments||0| |Asset and Investment purchases||0| |||| |**Total Payments**||**0**| |||| |cash funds on charity registration||0| |cash funds at 31 December 2020||0| ## **Statement of assets and liabilities at 31 December 2020** ||Total| |---|---| ||Funds| ||£| |Cash Funds|0| |Other monetary assets|0| |Investments|0| |Assets retained for the charities own use|0| ||| |Liabilities: for set-up and small admin costs|-14707| ||| |Deficit|-14707| ||| |signed on behalf of the Trustees|| ||| ||| ||| |25 October 2021|| 3 ## **ParGolf International Foundation** ## **Notes to Receipts and payments accounts and Statement of assets and liabilities for the year ended 31 December 2020.** ## **1) Accounting Policies** ## **Basis of preparation** The Charity was dormant from its formation,7 December 2018 to 31 December 2020 and under section 133 of the Charities Act 2011 has elected to prepare ‘receipts and payments accounts’ only. ## **2) Going Concern** As shown in the Trustees Annual Report, The Trustees are well aware of the deficit on set-up, which in normal circumstances would have been a planned short-term issue, as anticipated activity in 2019 and 2020 to generate funds would have paid off set-up costs and the Charity would have started making grants to satisfy its objectives. Covid-19 has significantly further interrupted the process in 2020 and 2021, meaning that plans for income generation and operational activity are to be put back to 2022, as and when Covid 19 restrictions allow. ## **3) Trustees’ expenses** The Charity has accrued no cash in the period 7 December 2018 to 31 December 2020 and Trustees have received no cash or benefits in this period. ## **4) Audit or Independent examination** The Charity has income of less than £25,000 so does not require and audit or independent examination. 4