REGISTERED COMPANY NUMBER:11785722 (England •nd WalK} REGISTERED CHARITY NUMBER: 1189671 Balmforth A$$oolates Llmltod 1 Cobham M•w$ Agai Grov• London NWI 9SB *A8W6U3RS" 0112023 COMPANES MC￿SE #324 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2021 for PETER MARLOW FOUNDATION Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Finanaal Activities CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The trustees whoare also director5 oftheclwiryforthepurp05es ofthe Companies Att 200 present theirreport with the financial statements ofthechariry for theYearEnded 31 Decetnber 2021. The trnstees have adopted theprovisioDS ofAccountingand Reporting by Charitie5: Statement of Recommended pr￿tiCe applicable to chariues preparing their accounts in accordancewith the FiDanci Reporting Standard applicabk in the UKand Republic oflreland {FRS 1021 leffertive ljanuary 2019). INCORPORATION The charirable compaDy incorporated oD19 Dcccmber 2018 ￿d8￿Ill￿J charitable status on 27th M*y 2020. OBJECTIVES AND ACTIVITIES Objectives and aims Toadvance education in theart4 itip>articularthe artofphotographyby the utawishment and mainten9Ace ofa8allery, arcbiveand library ofphorography,books and phoTosraphs. inparti¢u14rbut noi by way oflimir4tion, ofthe works ofperermarlow: ToeDcouragenew work. new observers ofsrxiery. newimage makers and storytdlers Tocelebrate the photography ofhunwiity. focusinsotssocial ￿911$M. Tocelebrate P¢ter'$ work and his objectives- his lens wa5 always on thehunwi aDd thesocial. To ailowacee5S tothe Peter Marlow Archive #nd exrellsive libr REPORT OF THE TRUSTEES FOR THE YEAR ENDÉD 21 DEQEMBER 2021 OBJECTIVES AND ACTIVITIES Significant Activities QENERAL NOTES Quarterly meetings with Trustees continued tohdp push forward d*clwiry's objecuves. Fion*Naylo¥¢ontinu¢d *s Chair ofthe FoundauoThand Robert Husband as PMF'S secretw. Both FionaNaylorand Robert Husb#nd'$ ¢enns ¥ Trustees were rencwed for afiJrtber3 year5 at the PMF Quarterly Mrtiingin November 2021. QOVERIIINQ DOCUMENTS & POLICIES FollowjngFio￿P3rker'S ￿0MmendatiOn, PMFappoin¢ed Nicol¥ Eldred ilegal consultant, to review theirgoverning do¢un)ents and to establish poli¢yd¢xurnents going forward. NI￿1¥ recommended a few minor changes to the Articlesof A$soci*riofj wknich were approved bythe board And subsequendysubmirted to Compat]ies House approved on 10th August 2021. The Foundation also amended its name from Petermadow Foundation Ltd toPeter Marlow Found*uon LimiTed, to allow it to lesallydrop'LimiEed' when it is referred to. This was approvedby ¢he board and by Companie5 House on 4thAugu5t 2021. Both items are ￿￿tingfOr Theclwiry Cornmi5SiOD to approve thcchanp They were ¢xp¢riencingan excesslve backlogdut to the p￿deMiC ￿ weare anticipating that wewill hear in early 2022. A Code ofconduct was establishedforTrvsttts ofthe Fowida¢ionto adhett to whichall Trustees were required to read and sign. Thiswill be disttibuted to each yeargoingforwarl high]ighringaDyameodments. PMF a150 reviewed future policies thai might be required moving forward. cIN3yknrlMsfiAthhtt4 PLUTO 11 Continued work on the design development ofpiuto ll, Dunsent￿ This 15 intended tobe occupied by the Foun&tion on a longlelse at apeppercorn renz. The newly renovatedbuildiDgwill behometo Peter's archiv4an ¢ducational workshop sp¥4gallery?artist it] residence x¢¢ots1￿0a8lloll> publicly accessiblelibrary, cold stor4 darkroom and archivist office. The pI￿l￿gaPPIl¢I¢lotsw%S Subtnitted on 24th May 2021. Natural England and Kent Counry CouDciI required addittotul Ecological surveys tobe carried out (luringthe spring / summer months. Duogeness is an area ofSp¢¢i21 S¢Aentifi¢ Interest ISSI) gAd a N4rional Nature Reserve containin8a third of all species ofplant found in the UK anda urrique Ènd precious collectiou ofillsetts ¥￿a birds, therefore particularcare 15 taken by the council ¢0 make suretlur atty n¢woraddirionJJ interventions to the landscape￿eProperlY reviewed. These additional ecological surveys were submitted on 17th August 2021 which were follovRd by a Historical Report regarding the building and its context, whichwa5 5ubrnitted on 4th Ortober2021. The Environmetttal Prote¢tioD Team at Folkestoneand Hythe Council Submitted a note on 9thNovember 2021, stating: 'Wehavereviewed rhe updaredecologicalinfonnation5ubJnAtredbytheapplicaDtandAdvise thatsuffiaent eco]osic21 Infom￿[10ll ha5 ireDprovided.' The KCC have Suggested afew'condirions, tbat $hould be attached to the pl8]￿Ill8 application ifit isgr#Ated. This isnot ou¢ ofthe ordinary ftlrsites ofpartiathecolosic￿ itnporrance. Currendy plantiitig bas notbeen approved. ** f41¥ INSTAGRAM I WEBSITE PMF'S ins¢agrani¢ontinued to post at least 3titDesaweek. Through 2021 PMFgained oYer5000 additiona] follower& The website ￿$0 kept up to date. widknewjournal postsbtingadded romakesure thatit was thckingoverpriortothe est*blishmerLt ofrhe second stage ofthewebsite. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 IFxHIIMEIVOQD8CMOOL EDUCATIONAL PROGRAMMES PMF launched 11$ first pilot educational Pr¢>gran￿wIth Homewoodsthool and Sixth Forn This was a six week prograttllne. one sessioll per week wilh Magnum Photographer. Sttjart F￿. Thi5 was for Year 121 Lower Sixrh Photograplly A Level Students. Due to covid resuirtions still in plx all classes but olle wereonline. Homewood shared their students, work with PMF and there were plans Icovid-permitting) to hold ￿exhibI￿OnI0 celebrate the work created. Feedb¥k was providedby Stuart Fr¥JthlirL PMF joined SEATEN,South East Art TeacherlEdvca¢ors N¢t￿rk. A D¢fWOTkcrcatcd to help contLertart and cruuve teachers to local art organisauons ofvaryingd¢gre4 from museums to Foundations. toarchives tolearningfacilitator& From this Fe have formed iliokto Artswork, attorganisation that'strives tOrnaket￿ arts attd ¢rextivityÈva]lable to absolutelyeveryone., Their Kent teamhas put U5 in tOuchwith￿l0lls schools in the region sowe continue our pilot education programme. Èiiiiiii li Iijj,F;], 'THE ENGLISH CATHEDRAL., TOURING EXHIBITION In2008 Peter￿￿ commissioDed by Royal Mail on the 3())thyear aDniversaryofthe ￿mPletion ofst ￿ul,$ Cathedral to photograph6 cathedrals. These were tol￿ issued 25c0mtne￿r￿tive stamps. Peterw¥ inspired to continue this pilgrimage and upture all 42 athedrals ofthe Church ofE￿￿alld using on[y￿tural ligh¢. This fonned an ether¢al collertion of1rn￿es, comparing and contrastingthe architecDJral nuances olthe Anoican CathedEal$. In 2016 Magnum PEkoios secured An Council odingto commence a tour ofthe colltction, with the aim for it tobe shown ill all 42 Carhedra]s. Prior 10 the pandcmic the exhibitionhadbeen shovm at Coventry. Ely. Portsmouth and Bla¢kbvrn CathedAI and was due to be shown at Southwark in 2020. Further 61ndingw￿$¢¢￿red when the Photographic Acquisition Group as50cAated vjith The Wittoriiand A]bert Museum pur¢hased all 42 signedprints ftsr the V&A's collectionandgive acontribuuon ¢0 continuethe tour. PMF felt in a g(M)d posiiion to take on the managen￿￿t0￿￿1S from Magnum Phoros. Conractwas made wlth Iheremaining38 ￿¢hedral$ d has secured 7 cathedrals tohost th¢ exhibition in 2022 wirh maDy rnoreexpres5ingintere5tin 2023. Thehopeis the tourittg exhibition is an oppominity forthe Foundation toget it5elfknown to audiences across England. MARCH 2021: 133 SOLD - untilitJDesses JUME 2021: 161 SOLD Y￿aZ0]0*Julhf JUNE 2021: 189 SOLD Jap￿. 199& MAGNUM SOUARE PRINTSALES Fiona Naylor Conf￿ed that anyfullds received from the sale wouldbe donated to the FoundxtlOD from the Marlow Estate. Magnum Photos ea¢h year hold5 3 week-long Square Print Sales. vwh1choff¢rpl￿EoSraphY enthusiasts and other5 to buy a limited editlOD, museum-qualiryprint by some oftheworld's best image-rnakers forthe accessible price of $100. PMF participated in all 3 salesiti 2021 selliDgju5tunder s￿ prints. TheOctob¢rs2k w¥the mosi successful sale so far forthe Foundation with atotal of189 5aJes. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 Kent County Council hN5P1PAnON￿ CPEAThTr*. 7K4NSFOPMINGUVES kert.go&L Championing.photography_-. since FUTURE PLANS The clmriry is ledbyistable and mutually committed Board ofTnwees whobringaraDgeoftaient& T￿￿tee5 servea maximum of 3 yearterm which canbe extended for andditional 3yearsrfapproved by the rest oftheboard. During2022 wewill continue searchingfoTPOteDti21 new trustee$ todiversLfyourgovenMnc4 add expertise. inparticular Are￿ such ￿ educatiotLand progranuning? and develop our networks. All th¢exjstingtn￿tees are encouraged to propose any candida¢u th¢ybeli¢ve aresuiubk. Fiona Parker has rttommended Fhotoworks: 'Phoroworkschampi0nsphoto￿lphY￿oreve￿oD£ Weare&omternationalplstK>nn,globAIiDreach, aodh8veprovided oppomuutiesforamstsaod2u&encessiDce1995. WedDIIDthAveaphJsicAlvenu4 I￿rour0￿11￿eCbAW￿eIs&reAI￿d)￿oFc￿. Ourprosrdmmebnngsnewexpenentts r04udienc¢s#Jklopens upneww4ySto encounterphorowhy. Pho¢oworhi$4 regy$teredcbantyandtheoJJlyoryaJusxtson with anaiionalrenutforphorogrAphyin Etsglaod. Our workissupponedbypubhc Jsmdins rAroughArrsCoun¢ilEJJ￿￿ld$NArAoTr￿1POrt£tsho. PhotowOrks￿1CdbYS￿tsaIrM8y￿1Tr, Dwector., The Foundauonwill lookatapotential partnership Photoworks toget our Edutation PrograJttmeup and runniDgprior ro the building openkng. The aim for theFoundationis toestablishltselfwithin the Kent ComrnuDiry? particularlyvrith Kent based Educational Institutionsto promote photography. 3 Square Prinr Sales are prediC￿d to be launchedbenven 2022 (Marth &Ottober) and 2023 (Marcbl. 2022 marks the 75th Anniversaryo£the establiShn￿lt ofmagnum Photo4 thereforethe saleswillbe IiDked to thi5 and other events whiclLPMF might b¢ invited to participt¢ in will be organis¢d to ¢elebrat¢ this ar￿1verWy. REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 STRUCTURE. GOVERNANCE AND MANAGEMENT The ch2rityAS ¢ottirolledbyirsgovernin8docurneDt, a dcedoftrus4 aDdconstitutesalimitedcompauy> lirnited by8uarante4 a5 definedby the Companies Act 200& REFERENCE AND ADMINISTRATIVE DETAILS Regstered Companynumber11735722 (Etssland and Wales) Re8iStered ClwiryJ)umber 1189671 Regist¢r¢doffice 13 Britton Srreer Lottdon ECIM 5SX TRUSTEES Fiona Naylor (app)itited 19.12.201813year ternLrenewed 19.IL21) Max NaylorM4rlow (appointed 22.02.20201 FelixNaylor M•xlow {appoitited 22.02.20201 Tom Harvey l*ppointed 20.03.2020) Fion4 Parker IAPPOitited 20.03.2020) Roben HUsb￿a (appointed 19.12.201813yearterrnrenewed 19.IL21) DuIing the yearms Naylor and Mr Husband tttited byrotstion afteran ittirialtlkreeyear rerni attd wett, hxvitiggiven th¢tr cowent. re-appointed fora fijrrher ierni ofthree yedf5£0mmencing19.11.2021 REFEREKCE AND ADMINISTRATIVE DETAILS BgJmft)rth Asststiate5 Limited I Cobham Mews Agar Grove London NWI 9SB Report ofthe trwttts, incorporatingasrratew report, approved byorderofthe board oftrusttt4 asthe cotnpany direttors, on ..2Z.IQ,21................. and signed on theboard's behalfby: F NAYLOR ITRUSTEE I CHAIRI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PETER IAARLOW FOUNDATION ('THE COMPANY.) I report to the Ch￿1￿ trnstees on my exami￿￿0￿ oftheaccountsofthe CompanyfortheYearEnded 31 December 2021. RESPONSIBILITIES AND BASIS OF REPORT As the chariry's trustees ofthe Company (and also it$ directors forthe purposes ofcompanylawl you are resp)nsible forthe preydration ofthe accountsin accordancewAth therequiremettrs ofthe Compatiies Acr 20061.tbe 2006 Act'l. Having5atAsfied myselfthat ¢he¥ccounu ofthe Company are not requiredtobe ￿ditedU￿der Pan 16 ofthe 2006 Aci and are e]xgible for independent eXA￿l￿10n, I report in respe£r ofmy eX￿1]nall0￿ Ofyour£h￿lry,S accounts as canied out under sertion 145 ofthe Charities Act 2011 {'the 2011 Act.). In canyingout my exatnirLation I have followed the Directionsgiven by the ChariryCotnmi5sion uDdersectAon 145(51 (bl ofthe 20ll Att. INDEPENDENT EXAMINER'S STATEMENT I have completed mYexami￿ts0￿ I collfirm th*c ttojnanets have com¢ romy attenuonin ¢OnDe¢tion with theexamitkatio givingme cause tobelxeve: l 4tt0un¢insre¢ordsFere not kept in respert o£theCompanyasrequiredbysettion 386 of the 2006 Act. or I the accowits do not aecord with tI￿Se recoT&: or a the accounts do not comply ￿ththe&¢¢O￿nIIngreqUIreMelltrofS¢¢t10n396 ofthe 2006A¢r otherthan any ttquirement tIMt the accounts8ivea ttwe￿df*7rVi¢VwhiehIs not auuttercoDsidered as Part0f￿ independent examination" or the I￿OUnts h*venot beenprepared in accordance withthe methods andprinciples ofthe statern￿t ofRe¢ommended Pr￿tICe foraccounting and r¢porungby Charities l*ppli¢able ro¢harities preparittgiheir accounts in aecordancewiththt Finan¢iaiReportingStAnd•rdapplitablein theUKand Republic oftreland IFRS 1021). I have llo concerns and haye come ￿rO$S no other matrers in colmection with theexaminarion towhichattention shouldbe dr*wn ID this report in orderto enable apropervndersraDdiDgofthe accountsto be reached. 8RYONY BALMFORTH Balmlorth Associat•# Limited I Cobham M•w$ Agar Qrov• London NWI 9SB DATE: 2811112022 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 INCOME AND ENDOWMENTS FROM UNIWAICYÉDFiIND RESTA￿ED FUND TOTAL FUNDS TOTALFUNDS NOTES Don4tions and Lewies Other TrdingActivities TOTAL 97.710 97.no 19.000 500 98,210 98.210 19.000 EXPEMDITURE ON Cl)aritsbl¢A¢tivities Support Activiries TOTAL NET INCOMEI IDEFicm TOTAL FUNDS CARRIED FOKWARD 2.894 22.828 22.828 25.722 72.488 80.342 21.114 25.722 72.488 21.114 12.4141 80.342 7.854 2020 LIIAESTAICTED Fu￿ RESTRIrnFUND TOTAL FUNDS TOTAL FUNDS CURRENT ASSETS Cash atbank 9JLd in hand Gift Aid Receivable TOTAL 69.246 21.096 80.342 $9.246 7.864 21.096 80.342 7.854 CREDITORS Amounts fallingdue within one year NET CURRENT AS8ETS 80.342 80.342 80.342 80.342 7.854 7.854 TOTAL ASSEfs LESS CURRENT LIABILITIES NET ASSETS 80.342 80.342 7.854 FVMDS UtLfe5trictcd Funds Restricted Funds TOTAL FUNDS 80,342 80.342 7.854 80.342 80.342 7.854 The charitable company is entitled toe]temption fromaudit under Section477ofthe CompMDies Act 2006 for Ihe period end￿ 31 December 2021. The members have not required thecompaDy to obtain an audit ofit5 financial staternentsfor the period eDdcd 31 December 2021 in accordaDce withsection 476 ofthe Companies Act 2006. Therrustecs acknowledge their restM)nsibilities for. {1) ensuring that the ch￿1t#bIec0￿Pa￿ykeeps a¢ts)uttiiugrecords that¢omply withSe¢rion$ 386 and 387ofthe Companies Act 2006 and Z Ib) prepAringfill#ffjcial suiementsFhi¢hgiveatrue and fairview ofthestate of•ffairsof the charirable company as *r the end ofeachfinarLaalyear and ofitssurplus ordeficit foreach financial year in accordancewith the requirements of Sec¢ion$ 394 and 395 aod which otherwise Comply withthe requiretnents ofthe Companies A¢r 2006 relatingto financial statement4 sofaras applicableto the dwitabiecompany. Thefinancialsta ¢ments were*pproved by theBoardofTn￿tees and authori5ed forissueon. 2 7: 10 . 2• £L w¢re ts bel)Alfby: 11. Fh• 54rthl ). 12 I. ACCOUNTING POLICIES Basis ofpreparingtbe financial statements Th¢ fu)an¢i41 s¢*ten￿nTS of chan"rable ¢ompany.fwhithis apublic i￿t entity under FRS 102, havebeen prepared in accordxttce withthe Cl)aritiesSORP (FRS 102)'Accountittg2nd Reportingby Charities.. Statement of RecornmeELded Prarti¢e appLicable to ch•xiries preparingtheiraccounts in a¢cordan¢e withth¢ Fin2D¢Éal Reportingstandard applicable in the UK and Rwblic oflreland IFRS 102) leffecrxve lJanuary 20191,, Financial RepotTing Standard 102'The Financial Reportingstandard applicable in the UK and Republic of ireland, and the Compa￿1¢5 Act 2006. Thefinancial s¢*ten￿ntS have beenprepared under the hirtoricat cost convention. INCOME All Ancome i8 recognised Int￿StateMent ofFIDanci￿ Activities once theclwiry Iwenudementto the 6Jnds, it is probable that the income willbe received and the amount can bemeasured reliably. EXPENDITURE Li*biliiies are recogtsised as expeDdiDJre as soon asthere is a legal or¢onsrtiKtive obligation committingthechariry to that expendirure, it 15 probable that a trdn5fer ofcconomic benefits will b¢ required in settlement 2nd the amount ofthe obligation Can be me*sured reliably. Expenditure 15 accounred for on4n a¢mth]s b&sis 2nd h&8beett cl￿tfied under headings that aggregate all cost related to the category. Where cosrs cannorbe direcrly atrrAbuta toparticular head￿ d￿yhavebCen allocated to attivities on abasisconsistent with theuse ofresoW￿. TAXATION The charity is exempt from corporation taxonitsclwitable activitie5. FUND ACCOUNTING Unrestricted fiwds can b¢uxd itt *c¢ordan¢e wxth the ¢lMrAt*ble obj'ertivesat the discretionofthe tnxsttts. Restricted ￿ndS cgth odybe used for parti¢ul•x resttirted purpose$ wirhin the objects ofthe¢iwAry. Restrictio￿ ari8ewhen specified bythe donororwhen funds are r¥ised for E)arricular ttstiicred purpow. Further explanationofthe nature and puryose ofeach fithd is induded itithe nores tothe finati￿ $ts¢emeThts. 2. DOMATIONS AND LEGACIES Donations 97.710 97.710 29.268 29.268 TOTAL 13 NOTE TO THE FINANCIAL STATEMENTS . CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021 3. OTHER TRADINQ ACTIVITIES Othertrndinsattivsties. Pritiisales 500 EXPENDITURE 4. CHARITABLE ACTIVITIES COSTS Lecntrers Fee ￿d ￿1Pment Purchases 2.892 300 5. SUPPORT COSTS Support A¢uYities 22.828 72.488 21.114 7,854 NET INCOMEI IEXPENDITURE) 6. TRUSTEE'S REMUNERATION AND BENEFITS TIL¢re were no Etusrees, retuun¢rauonorocher benefits fortbe ￿riod ended 31 December 2021 7. TRUSTEES. REMUNERATIOM AND BENEFITS There were no rtustee$' expertses paid for the period ended 31 December2021 8. MOVEMENT ON FUMOS BROUGHT FORWARD VI￿¢$triCted Funds General Fund Restrirted Funds Restricted 7.864 10,268 TOTAL FUNDS N•t mov•m•nt in funds, includ•d in th• abov• •r• as foUow&' Unrestricred Funds General Fund Restricted Fun& Restricted TOTAL FUNDS CARRIED FORWARD 7.854 10.268 72.488 12,4141 72,488 12.4141 Unrestricted Funds Gen¢r21 Fund Restricted Funds Restricted TOTAL FUNDS 80.242 7.864 9. RELATED PARTY DISCLOSURES There were no relited partytransa¢rioJ)s for the period eDded 31 Decernber2021. 14 DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 INCOME AND ENDOWMENTS Donations and L