Registered Charity 1185385
THE GHAR PARAU FOUNDATION
GPF
THE GHAR PARAU FOUNDATION
The Old Methodist Chapel, Great Hucklow, Buxton, Derbyshire SK17 8RG
gharparau.org.uk
UK Registered Charity No. 1185385
TRUSTEES’ REPORT AND ACCOUNTS
For the year ended 31 December 2021
Trustees Report
The Trustees present their report and the accounts of the charity for the year ended 31 December 2021.
The objects of The Ghar Parau Foundation (GPF) are to advance the education of the public in general (and particularly amongst scientists) on the subject of speleology through the provision of grants and to promote research for the public benefit in all aspects of that subject and to publish the useful results. GPF is a registered charity (number 1185385) and is administered in accordance with its Trust Deed dated 10 September 2019.
Governance and Management
The Management Committee consists of four Trustees, one of whom is Chairman, plus Secretary and Treasurer (who may or may not be Trustees) and four Active Expedition Caving Members. Additionally, there will ordinarily be one representative from each of the British Cave Research Association (BCRA) and the British Caving Association (BCA). Both Trustees and Active Expedition Caving Members are appointed on a rotating basis, the former for up to eight years and the latter for a period of four years. The appointed members who served during the period ending 31 December 2021 and since the period end were as follows:-
Andrew Eavis Trustee, Chairman Paul Ibberson Trustee, Treasurer Nicholas Williams Trustee Howard Jones Secretary (Appointed as a Trustee 18 April 2021)
Registered Charity 1185385
THE GHAR PARAU FOUNDATION
Governance and Management (continued)
Robert Middleton Active Expedition Caving Member Fleur Loveridge Active Expedition Caving Member Philip Walker Active Expedition Caving Member Elaine Oliver Active Expedition Caving Member
Management Committee meetings are held twice a year in the Spring and Autumn and all major decisions on the running of the Foundation are made at these meetings. Trustees may meet between these meetings if required.
It should be noted that all Management Committee members are volunteers and do not receive any remuneration or expenses for their activities in support of GPF.
Achievements and Performance
Prior to 1 October 2019, GPF had operated as a subsidiary charity (UK registered charity number 267828-1) linked to the British Cave Research Association (BCRA – UK registered charity number 267828). As previously reported, GPF was formally de-linked from BCRA on 30 September 2019 and all assets and liabilities as at that date were transferred to the new charity.
In order to maintain the Foundation’s preferred accounting date of 31 December, the financial review included in the prior period report covered the fifteen months from 1 October 2019 to 31 December 2020. For the current report, the Trustees present accounts relating to the calendar year ending 31 December 2021. This period initially saw an easing of the restrictions arising from the onset of the Covid-19 pandemic, which in turn resulted in renewed plans for overseas expeditions. Consequently the GPF committee was pleased to be able to make a number of grant recommendations in the spring. Unfortunately, as the year progressed, further Covid waves and restrictions meant that not all expeditions were able to take to the field. Those expeditions that did take place were also on occasion compelled to modify objectives and/or personnel. Nevertheless, a number of trips did take place and many lessons were learned that will be of value in future years.
Financial Review
As at 1 January 2021, GPF had an accumulated fund of £184,531, represented by a number of cash and term deposit accounts. These assets plus donations and interest are utilised to generate investment income which is then distributed in the form of grant aid to overseas caving expeditions.
During the 2021 calendar year, GPF held its spring Management Committee meeting at a time when the initial impact of the Covid-19 pandemic was starting to ease. Restrictions were being relaxed and travel becoming a little easier. Award decisions were made in anticipation of improved circumstances and funding allocated accordingly. Unfortunately, the vagaries of the pandemic waves and shifting regional regulations meant that timing often became a crucial contributory factor to what expeditions were able to achieve.
Registered Charity 1185385
THE GHAR PARAU FOUNDATION
Financial Review (continued)
In light of the ongoing uncertainty, the Trustees and the Management Committee have determined that where expeditions were postponed rather than cancelled (and thus had a reasonable expectation of taking place in a similar form in the near future) the award funding would be retained for later release. In those cases where expeditions were cancelled, all allocated funds were written back to the accumulated fund. The resulting awards made were then incorporated into the Income and Expenditure account. In the case of monies received for distribution from BCA, all sums unallocated in the year have been treated as income deferred to 2022.
Whilst the interest generated from the Foundation’s investments improved pro-rata on the prior period, the most notable feature of the period’s income statement was further significant donation income from UK individuals. A sum of £14,000 was received which is to be reserved for expeditions to the Mulu National Park area. This sum has thus been ringfenced within “Restricted Funds” on the balance sheet and will be allocated as appropriate to Mulu-specific applications made over the coming years. Additionally, a sum of £1,500 was raised in memory of Ian Timney. These funds have been ring-fenced for an annual award to be made to the expedition with the greatest emphasis on younger participants, with first such award to be made in 2022. All interest and Gift Aid sums subsequently arising are to be treated as unrestricted donations.
An additional feature of the balance sheet is the ring-fencing of a Capital Fund Lower Limit. This has been determined by the Trustees to be a minimum floor value for the assets retained for income generation irrespective of any year on year flexibility in distributions compared to periodic income. This limit is to be reviewed annually by the Trustees and increased if deemed appropriate to do so. For 2021, the limit was left unchanged.
Overall during the period the sum of £20,987, comprising the excess of income over expenditure, was added to the accumulated fund. At the balance sheet date of 31 December 2021 the accumulated fund has thus increased to £205,518.
Reserves Policy
The Foundation maintains a level of reserves which facilitate an appropriate level of income which can be utilised for grant aid. Any income which is not specifically targeted for distribution is ordinarily added to reserves and the funds are then invested in order to generate a safe income stream.
Registered Charity 1185385
THE GHAR PARAU FOUNDATION
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing a trustees’ annual report and accounts in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice) including the applicable Charities SORP.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011 and the applicable Charities (Report and Accounts) Regulations. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The accounts have been scrutinised by an Independent Examiner, whose opinion follows below.
The Trustees have complied with the duty in the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission.
Approved by the Trustees and signed on their behalf by:
A J Eavis Chairman
21 October 2022
Registered Charity 1185385
THE GHAR PARAU FOUNDATION
ACCOUNTS for the year ended 31 December 2021
INCOME AND EXPENDITURE ACCOUNT for the year ended 31 December 2021
| Interest Received Donations British Caving Association Fundraising Total Income Ghar Parau Foundation Awards Alex Pitcher Awards BCA Awards Mulu Awards Total Expenditure Excess of Income over Expenditure BALANCE SHEET as at NSB Bonds Virgin Money Deposit Mansfield Building Society United Trust Bonds Redwood Bank Investments at Cost Cash at Bank Grant Retentions Accruals and Deferred Income Total Assets Accumulated fund brought forward Excess of Income over Expenditure Transfer to Restricted Capital Unrestricted Funds carried forward Capital fund lower limit Mulu reserve Ian Timney reserve Accumulated Fund |
2021 £ 1,829 19,025 4,750 333 25,937 - 200 4,750 - 4,950 |
2019/20 £ 1,835 74,370 2,150 1,412 |
||
|---|---|---|---|---|
| 79,767 | ||||
| - 75 2,150 3,000 |
||||
| 5,225 | ||||
| 20,987 31/12/21 £ 1,000 2,000 80,000 77,500 45,000 205,500 9,867 (7,049) (2,800) 205,518 5,031 20,987 (15,500) 10,518 125,000 68,500 1,500 205,518 |
74,542 | |||
| 31/12/20 £ 1,000 2,000 80,000 60,000 30,000 |
||||
| 173,000 | ||||
| 22,456 (5,375) (5,500) |
||||
| 184,531 | ||||
| 109,989 74,542 (179,500) |
||||
| 5,031 | ||||
| 125,000 54,500 - 184,531 |
Registered Charity 1185385
THE GHAR PARAU FOUNDATION
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GHAR PARAU FOUNDATION
I report on the accounts of the Foundation for the fifteen months ended 31 December 2020 which are set out on pages 1 to 5 above.
Respective responsibilities of Trustees and examiner
As Trustees of the Foundation you are responsible for the preparation of the accounts; it is my responsibility to examine the accounts and state whether particular matters have come to my attention.
Basis of independent examiner’s report
The examination includes a review of the accounting records kept by the Foundation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
In connection with my examination, no matter has come to my attention:
Independent examiner’s statement
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(1) which gives me reasonable cause to believe that in any material respect the requirements to keep proper accounting records or to prepare accounts which accord with the accounting records have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Alastair Gott
Name:
Address:
21 Hawke Street, Stalybridge, SK15 2PQ 19 October 2022
Dated: