**Charity number: 1181246**
## **THE HARDY FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
## **THE HARDY FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 3|
|**Statement of financial activities**|4|
|**Balance sheet**|5|
|**Notes to the financial statements**|6 - 13|
## **THE HARDY FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021**
**Trustees** Edward John Hardy Edward Thomas Hardy, Chair Richard Jeremy Paul
**Charity registered number** 1181246 **Principal office** 124 Finchley Road London NW3 5JS
## **Accountants**
Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS
Page 1
## **THE HARDY FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021**
The Trustees present their annual report together with the financial statements of the The Hardy Foundation for the 1 January 2021 to 31 December 2021.
## **Objectives and activities**
## **a. Policies and objectives**
The charity aims to further charitable purposes through provision of grants with its aims listed below.
- Reducing poverty.
- Provide relief to those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.
- Advancement of education.
- Provide relief of suffering of animals which are in need of care and arrention by reason of sickess, maltreatment, poor circumstances or ill use.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Activities undertaken to achieve objectives**
The main activities undertaken relate to the provision of grants to organisations which are listed below.
- CAIS Ltd
- Battersea Dogs' and Cats' Home
## **Achievements and performance**
## **a. Main achievements of the Charity**
The charity has provided grants to organisations offering charitable services in aid of mental health, addiction and caring for cats and dogs in the United Kingdom.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The charity is still in the process of accumulating reserves. The trustees consider the current levels of reserves to be adequate at this time.
Page 2
## **THE HARDY FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
## **Structure, governance and management**
## **a. Constitution**
The Hardy Foundation is a registered charitable incorporated organisation, number 1181246, and is constituted under a Trust deed registered 18 December 2018.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. Financial risk management**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on and signed on their behalf by:
**Edward Thomas Hardy** Chair
Page 3
## **THE HARDY FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021**
|Note
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6,7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|Unrestricted
funds
2021
£
-
-
23
23
25,612
25,612
(25,589)
270,272
(25,589)
244,683|Total
funds
2021
£
-
-
23
23
25,612
25,612
(25,589)
270,272
(25,589)
244,683|Total
funds
2020
£
149,883
250
60|
|---|---|---|---|
||||150,193|
||||25,267|
||||25,267|
|||||
||||124,926|
||||145,346
124,926|
||||270,272|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 13 form part of these financial statements.
Page 4
## **THE HARDY FOUNDATION**
## **STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021**
|Note
**Current assets**
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|25,977
231,006
256,983
(12,300)|2021
£
244,683
244,683
-
244,683
244,683|25,977
249,035
275,012
(4,740)|2020
£
270,272|
|---|---|---|---|---|
||||||
|||||270,272|
|||||-
270,272|
||||||
|||||270,272|
The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by:
## **Edward Thomas Hardy**
## Chair
The notes on pages 6 to 13 form part of these financial statements.
Page 5
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. General information**
The Hardy Foundation is a charitable incorporated organisation registered in England and Wales. The address of the registered office is Regina House, 124 Finchley Road, NW3 5JS.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Hardy Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
The Trustees have reviewed the circumstances of the charity and consider that resources continue to be available to fund its activities for the foreseeable future. Accordingly, the trustees consider it appropriate to continue to adopt the going concern basis in preparing its financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Page 6
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.6 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.7 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The charity does not have any funds which are not unrestricted.
Page 7
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **3. Income from donations and legacies**
|Donations
Gift Aid
Donations
Gift Aid|Unrestricted
funds
2021
£
-
-
-
Unrestricted
funds
2020
£
123,906
25,977
149,883|Total
funds
2021
£
-
-|
|---|---|---|
|||-|
|||Total
funds
2020
£
123,906
25,977|
|||149,883|
**4. Income from charitable activities**
|Sale of Covid-19 tests
Unrestricted
funds
2020
£
Sale of Covid-19 tests
250|Total
funds
2021
£
-|
|---|---|
||Total
funds
2020
£
250|
Page 8
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
|**5.**
**Investment income**
Interest
Interest
**6.**
**Analysis of grants**
Grants to Institutions
Grants to Institutions
The Charity has made the following material grants to institutions during the
**Name of institution**
CAIS Ltd
Battersea Dogs' and Cats' Home
Achieving for Children
Little Forest Folk|Unrestricted
funds
2021
£
23
Unrestricted
funds
2020
£
60
Grants to
Institutions
2021
£
14,450
Grants to
Institutions
2020
£
8,000
year:
2021
£
9,450
5,000
-
-
14,450|Total
funds
2021
£
23|
|---|---|---|
|||Total
funds
2020
£
60|
|||Total
funds
2021
£
14,450|
|||Total
funds
2020
£
8,000|
|||2020
£
-
-
3,000
5,000|
||||
|||8,000|
Page 9
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. Analysis of expenditure by activities**
|Grants to institutions
Other costs|Activities
undertaken
directly
2021
£
-
3,120
3,120|Grant
funding of
activities
2021
£
14,450
-
14,450|Support
costs
2021
£
-
8,042
8,042|Total
funds
2021
£
14,450
11,162|
|---|---|---|---|---|
|||||25,612|
Page 10
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. Analysis of expenditure by activities (continued)**
|Grants to institutions
Other costs|Activities
undertaken
directly
2020
£
-
11,323
11,323|Grant
funding of
activities
2020
£
8,000
-
8,000|Support
costs
2020
£
-
5,944
5,944|Total
funds
2020
£
8,000
17,267|
|---|---|---|---|---|
|||||25,267|
## **Analysis of direct costs**
|Purchase and distribution of Covid-19 tests
Purchase and distribution of Covid-19 tests|Activities
undertaken
directly
2021
£
3,120
Activities
undertaken
directly
2020
£
11,323|Total
funds
2021
£
3,120
Total
funds
2020
£
11,323|
|---|---|---|
## **Analysis of support costs**
|Bank charges
Accountancy|Support
costs
2021
£
482
7,560
8,042|Total
funds
2021
£
482
7,560|
|---|---|---|
|||8,042|
Page 11
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Bank charges
Accountancy|Support
costs
2020
£
484
5,460
5,944|Total
funds
2020
£
484
5,460|
|---|---|---|
|||5,944|
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2020 - £NIL)_ .
During the year, no Trustee expenses have been incurred _(2020 - £NIL)_ .
## **9. Debtors**
|**Due within one year**
Prepayments and accrued income|2021
£
25,977
25,977|2020
£
25,977|
|---|---|---|
||||
|||25,977|
## **10. Creditors: Amounts falling due within one year**
|Trade creditors
Accruals and deferred income|2021
£
3,900
8,400
12,300|2020
£
-
4,740|
|---|---|---|
||||
|||4,740|
Page 12
## **THE HARDY FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **11. Statement of funds**
|**Statement of funds - current year**
**Unrestricted funds**
General Funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds|Balance at 1
January
2021
£
270,272
Balance at
1 January
2020
£
145,346|Income
£
23
Income
£
150,193|Expenditure
£
(25,612)
Expenditure
£
(25,267)|Balance at
31
December
2021
£
244,683|
|---|---|---|---|---|
|||||Balance at
31
December
2020
£
270,272|
Page 13