## The Persula Foundation 

## (A charitable incorporated organisation) 

ANNUAL REPORT AND FINANCIAL STATEMENTS 

for the year ended 30 April 2023 

Charity Registration No. 1194819 



## The Persula Foundation (A Charitable Incorporated Organisation) CONTENTS 

||Page|
|---|---|
|Legal and Administrative Information|1|
|Trustees’ Report|2|
|Statement of Trustees’ Responsibilities|6|
|Independent Auditor’s Report to the members of The Persula Foundation|7|
|Statement of Financial Activities (incorporating the Income and Expenditure Account)|10|
|Balance Sheet|11|
|Cashflow Statement|12|
|Accounting Policies|13|
|Notes to the Financial Statements|15|





The Persula Foundation (A Charitable Incorporated Organisation) LEGAL AND ADMINISTRATIVE INFORMATION 

## GOVERNING INSTRUMENT AND LEGAL STATUS 

The foundation is a charitable incorporated organisation registered as a charity on 16 June 2021. 

## DIRECTORS/TRUSTEES 

J Richer R L Richer G Knowles J Levy D B Robinson 

REGISTERED & PRINCIPAL OFFICE 

10 Queen Street Place London EC4R 1BE AUDITOR RSM UK Audit LLP Blenheim House Newmarket Road Bury St Edmunds Suffolk IP33 3SB BANKERS 

Barclays Bank plc 29 Borough High Street London SE1 1LY 

CHARITY REGISTRATION NUMBER 1194819 

1 



## The Persula Foundation (A Charitable Incorporated Organisation) TRUSTEES’ REPORT 

The Trustees are pleased to present their annual Trustees’ report together with the financial statements of the charity for the year ended 30 April 2023. 

The financial statements comply with the Charities Act 2011, 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) (effective 1 January 2019). 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

The Persula Foundation is a registered charity established on 16 June 2021 as an independent grant-giving foundation. It is constituted as a Charitable Incorporated Organisation (CIO), a registered charity governed by its constitution dated 16 June 2021. Its registered charity number is 1194819. 

## ORGANISATION 

A Board of Trustees administers the charity with day-to-day management of the charity being carried out by colleagues of Richer Sounds Limited. 

## TRUSTEES 

The following Trustees have held office during the year and up to the date of approval of the financial statements: 

J Richer R L Richer G Knowles J Levy D B Robinson 

## RECRUITMENT AND APPOINTMENT OF TRUSTEES 

As set out in the Articles of Association, there should be a minimum of three members of the board.  The Board of Trustees meet regularly to administer the charity. The Trustees ensure that they are aware of developments to governance best practice and developments in the wider charity sector. 

Recruitment and appointment of new Trustees is based upon an appraisal of the skills and experience required by the Charity. New Trustees are given induction and guidance by the existing Board members. 

All Trustees have given their time voluntarily and receive no benefits from the charity. 

## OBJECTIVES AND ACTIVITIES 

The main objectives of the Foundation are to support charitable organisations and develop original charitable projects by providing grants.  The Foundation’s current priorities are as listed in the Achievements and Performance section of the Trustees Report on page 3. 

## PUBLIC BENEFIT 

The Trustees have had due regard to the guidance on public benefit issued by the Charity Commission in exercising their powers and duties. 

2 



## The Persula Foundation (A Charitable Incorporated Organisation) TRUSTEES’ REPORT (continued) 

## ACHIEVEMENTS AND PERFORMANCE 

The Foundation has been committed to straightforward donations, however, wherever possible we also try to add value to charities or charitable projects.  Being a small charity, we have the benefit of carrying out our work with very low governance costs. 

As we are equipped with considerable organisational skills and expertise, we have a preference to support original projects directly in areas of the community that we feel are in particular need, secondly to support existing charities where we get a measurable outcome, and we can see that we make a difference and lastly to give aid to other good causes. This support has included providing grants to five unique projects: TaxWatch, Good Business Charter (via Good Business Foundation), the Fairness Foundation, Zero Hours Justice and ASB Help. 

Our donations in the year to our main priorities have been as follows: 

|Fair Society<br>11 donations<br>Human Welfare<br>13 donations<br>Animal Welfare<br>49 donations<br>Human Rights<br>17 donations<br>Prisoner Support<br>6 donations<br>Children<br>25 donations<br>Disabilities<br>13 donations<br>Women Support<br>3 donations<br>Medical<br>9 donations<br>Miscellaneous<br>17 donations<br>Migrant/ Refugees<br>5 donations<br>Domestic Abuse<br>1 donation<br>Storytelling<br>8 donations<br>Elderly<br>1 donation|£<br>465,500<br>198,000<br>190,600<br>120,951<br>74,283<br>66,750<br>56,500<br>43,720<br>27,100<br>26,372<br>19,000<br>5,000<br>3,970<br>1,000<br> <br>1,298,746|
|---|---|



3 



The Persula Foundation (A Charitable Incorporated Organisation) TRUSTEES’ REPORT (continued) 

## GRANT-MAKING POLICY 

The charity considers applications from a variety of charitable organisations for funding.  Applications are reviewed and levels of grants payable are decided upon by the Trustees in accordance with the charity’s objectives. 

## FINANCIAL REVIEW 

The activity for the year to 30 April 2023 is set out in the Statement of Financial Activities on page 10.  The net funding position at the end of the year is shown in the Balance Sheet on page 11. 

The principal funding source of the charity was from donations from Richer Sounds Limited, which currently aims to give 15% of its profits each year to charity. Due to the timing of pledges by The Persula Foundation the total grants given in a year may be more or less than the donations received from Richer Sounds.  The Trustees are satisfied with the statement of activities for the year which shows a deficit of £32,707 (2022: £255,416 surplus).  Due to the low level of operational expenses the Trustees are satisfied that future expenditure on charitable activities can be kept within the level of its income. 

## RESERVES POLICY 

The Foundation’s policy with regard to reserves is to maintain adequate funds to deal with current and mediumterm needs. At the end of the current year, the unrestricted general fund was in surplus by £222,709 (2022: £255,416).  The level of grants made is dictated by the income and so there is no specific requirement as to the level of balance sheet reserves. 

## INVESTMENT POWERS 

There are no specific investment powers, save that the income and property of the charity, from whatever source derived, shall be applied solely towards the promotion of its objectives as stated in the Memorandum and Articles of Association. 

## RISK MANAGEMENT AND ROLE OF TRUSTEES 

The Trustees have made an assessment of the risks to which the Foundation is exposed, in particular business, operational and financial, and procedures and reporting are in place to manage and reduce the identified risks. 

Procedures are in place to review identified and new risks on a regular basis. The actions needed to be taken if a recognised potential risk occurs, or if a change in the likelihood of a risk occurring is identified, have also been considered and are monitored and formerly reassessed by the Trustees annually. 

The main business risk to the Foundation is the reliance on donations from Richer Sounds Limited. It is considered that while Richer Sounds Limited is profitable and a going concern it will make sufficient donations to keep the Foundation operational. 

## FUTURE DEVELOPMENTS 

We are confident that The Persula Foundation will continue to distribute funds effectively over the coming months and hope to maintain and expand our relationship with many charities both in the UK and across the world. 

## RELATED PARTIES 

The charity has a very close relationship with Richer Sounds Limited a company founded by Julian Richer, Trustee. Richer Sounds provides the primary source of funding to enable the charity to carry out its charitable activities. A summary of transactions with Richer Sounds is set out in note 10 to the financial statements. 

## THIRD PARTY INDEMNITY PROVISION FOR TRUSTEES 

Qualifying third party indemnity provision is in place for the benefit of all Trustees. 

4 



The Persula Foundation (A Charitable Incorporated Organisation) TRUSTEES’ REPORT (continued) 

AUDITOR 

RSM UK Audit LLP has indicated its willingness to continue in office. 

## STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDITOR 

The Trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware.  Each of the Trustees have confirmed that they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor. 

By order of the board 

## David Robinson 

David Robinson Trustee 

20-Dec-2023 Date 

5 



## The Persula Foundation (A Charitable Incorporated Organisation) STATEMENT OF TRUSTEES’ RESPONSIBILITIES 

The Trustees are responsible for preparing the Trustees' Annual 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 and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and 

- prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with The Charities (Accounts and Reports) Regulations 2008, the Charities Act 2011, 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. 

6 



## The Persula Foundation (A Charitable Incorporated Organisation) INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE PERSULA FOUNDATION 

## **Opinion** 

We have audited the financial statements of The Persula Foundation (the ‘charity’) for the year ended 30 April 2023 which comprise the Statement of Financial Activities (incorporating the income and expenditure account), the Balance Sheet, the Cashflow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charity’s affairs as at 30 April 2023 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Charities Act 2011. 

## **Basis for opinion** 

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a year of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the Annual Report and Financial Statements other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

7 



## The Persula Foundation (A Charitable Incorporated Organisation) INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE PERSULA FOUNDATION 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report; or 

- sufficient accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees’ responsibilities set out on page 6, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

## **The extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities are instances of non-compliance with laws and regulations.  The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. 

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. 

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: 

- obtained an understanding of the nature of the sector, including the legal and regulatory framework, that the charity operates in and how the charity is complying with the legal and regulatory framework; 

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; 

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. 

8 



## The Persula Foundation (A Charitable Incorporated Organisation) INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE PERSULA FOUNDATION 

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the charity’s governing document and tax legislation. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report and remaining alert to any new or unusual transactions which may not be in accordance with the governing documents. 

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud.  Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to any significant, unusual transactions and transactions entered into outside the normal course of business. 

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities.  This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity’s trustees as a body, in accordance with the Charities Act 2011.  Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

RSM UK Audit LLP 

RSM UK Audit LLP Statutory Auditor Chartered Accountants Blenheim House Newmarket Road Bury St Edmunds Suffolk IP33 3SB 

21 December 2023 Date 

RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 

9 



## The Persula Foundation (A Charitable Incorporated Organisation) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) for the year ended 30 April 2023 

|Notes<br>**Income:**<br>Donations and gifts<br>1<br>**Total income**<br>**Expenditure:**<br>Expenditure on charitable activities<br>2<br>**Total expenditure**<br>**Net deficit for the year**<br>**Net movement in funds**<br>9<br>**Funds balance brought forward at 01 May 2022**<br>9<br>**Funds balance carried forward at 30 April 2023**<br>9|Funds<br>2023<br>£<br>1,311,658<br> <br>1,311,658<br> <br>1,344,365<br> <br>1,344,365<br> <br> <br>(32,707)<br> <br>(32,707)<br>255,416<br> <br>222,709<br>|Funds<br>2022<br>£<br>1,021,959<br> <br>1,021,959<br> <br>766,543<br> <br>766,543<br> <br> <br>255,416<br> <br>255,416<br>-<br> <br>255,416<br>|
|---|---|---|



10 



The Persula Foundation (A Charitable Incorporated Organisation) BALANCE SHEET Charity Registration No. 1194819 as at 30 April 2023 

|_Notes_<br>CURRENT ASSETS<br>Debtors<br>7<br>Cash at bank and in hand<br>CREDITORS: Amounts falling due within one year<br>8<br>NET CURRENT ASSETS<br>NET ASSETS<br>UNRESTRICTED FUNDS<br>9|2023<br>£<br>2,720<br>298,680<br> <br>301,400<br>(78,691)<br> <br>222,709<br> <br>222,709<br> <br>222,709<br>|2022<br>£<br>2,720<br>339,322<br> <br>342,042<br>(86,626)<br> <br>255,416<br> <br>255,416<br> <br>255,416<br>|
|---|---|---|



19 December 2023 Approved by the Board and authorised for issue on                                and signed on its behalf by 

## David Robinson 

David Robinson Trustee 

The notes on pages 13 to 18 form part of these financial statements. 

11 



## The Persula Foundation (A Charitable Incorporated Organisation) CASHFLOW STATEMENT for the year ended 30 April 2023 

||Unrestricted|Unrestricted|
|---|---|---|
||Funds|Funds|
||2023|2022|
||£|£|
|**_Cash used in operating activities_**|||
|Net movement in funds|(32,707)|255,416|
|Adjustments for:|||
|(Increase) / decrease in debtors|-|(2,720)|
|Increase / (decrease) in creditors|(7,935)|86,626|
|**Net cash from/(used in) operating activities**|<br>(40,642)|<br>339,322|
|**Change in cash and cash equivalents in the year**|<br>**(40,642)**|<br>**339,322**|
|Cash and cash equivalents brought forward at 01 May 2022|**339,322**|-|
|**Cash and cash equivalents carried forward at 30 April 2023**|<br>**298,680**<br>|<br>**339,322**<br>|



12 



The Persula Foundation (A Charitable Incorporated Organisation) ACCOUNTING POLICIES for the year ended 30 April 2023 

## BASIS OF ACCOUNTING 

The financial statements have been prepared in accordance with 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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Persula 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 notes. 

The financial statements are presented in sterling, which is also the functional currency of the charity. The accounts are rounded to the nearest £. 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## GENERAL INFORMATION 

The Persula Foundation is a Charitable Incorporated Organisation registered in England and Wales. The address of The Persula Foundation’s principal place of business is given on page 1. The nature of The Persula Foundation’s activities are set out in the Trustees’ report. 

## GOING CONCERN 

The nature of the organisation is such that its only obligations are minimal admin overheads. The charity has sufficient reserves to cover these obligations for a year of at least 12 months from the date of approval of the financial statements. Any grants are discretionary, and the Trustees have due regard for cash levels and future overhead costs when making such approvals. The Trustees believe that the charity is well placed to manage its business risks successfully. The Trustees therefore continue to adopt the going concern basis of accounting in preparing the financial statements. 

## INCOME 

## _Voluntary Income_ 

Income from donations and grants that provide core funding or are of a general nature are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. 

## EXPENDITURE 

Expenditure is recognised when a liability is incurred. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 

## _Charitable expenditure_ 

Comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.  It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

Charitable expenditure includes governance costs which are those costs associated with the meeting and the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. 

Certain expenditure is directly attributable to specific activities and has been included in those cost categories. 

13 



The Persula Foundation (A Charitable Incorporated Organisation) ACCOUNTING POLICIES (continued) for the year ended 30 April 2023 

## _Grants payable_ 

For grants, where the achievement of the grant conditions is in the hands of the grantee, the entire grant is recognised as expenditure in the year in which the grant is formally approved by the Trustees and has been communicated in writing to the recipient.  Where the Trustees retain sufficient direction in determining whether future grant instalments will be paid, grants are recognised when all conditions are satisfied. 

## TAXATION 

No provision has been made for corporation tax as the charity’s charitable status renders it exempt from UK direct taxation. 

## FUNDS 

Unrestricted funds are donations and other income resources receivable or generated for the objects of the charity without further specified purpose and available as general funds. 

## CREDITORS 

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. 

## FINANCIAL INSTRUMENTS 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees consider that there have been no critical estimates and judgements in the year. 

14 



## The Persula Foundation (A Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 April 2023 

|1<br>INCOME FROM DONATIONS AND GIFTS<br>Corporate donors<br>Individuals<br>All income received is unrestricted income.<br>2a<br>EXPENDITURE ON CHARITABLE ACTIVITIES<br>Expenditure relating to specific projects<br>Project expenditure<br>Governance costs (see note 3)<br>2b<br>PROJECT EXPENDITURE – Significant grants payable<br>EXPENDITURE RELATING TO SPECIFIC PROJECTS<br>Fair Society<br>Human Welfare<br>Animal Welfare<br>Human Rights<br>Prisoner Support<br>Children<br>Disabilities<br>Women Support<br>Medical<br>Misc/ Other<br>Migrant/ Refugees<br>Domestic Abuse<br>Storytelling<br>Elderly<br>Environment<br>Bullying<br>Mental Health|2023<br>£<br>1,311,568<br>90<br> <br>1,311,658<br> <br>2023<br>£<br>1,298,746<br>45,619<br> <br>1,344,365<br> <br>2023<br>£<br>465,500<br>198,000<br>190,600<br>120,951<br>74,283<br>66,750<br>56,500<br>43,720<br>27,100<br>26,372<br>19,000<br>5,000<br>3,970<br>1,000<br>-<br>-<br>-<br> <br>1,298,746|2022<br>£<br>1,021,959<br>~~-~~<br> <br>1,021,959<br> <br>2022<br>£<br>752,070<br>14,473<br> <br>766,543<br> <br>2022<br>£<br>283,509<br>24,000<br>64,460<br>41,400<br>48,500<br>57,000<br>5,000<br>38,000<br>20,400<br>54,716<br>16,000<br>-<br>2,085<br>-<br>10,000<br>83,000<br>4,000<br> <br>752,070|
|---|---|---|
||||
||||
||||



15 



## The Persula Foundation (A Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 April 2023 

|2b<br>PROJECT EXPENDITURE – Significant grants payable (continued)<br>The following significant grants of more than £20,000 have been<br>awarded in the year:<br>ASB Help<br>The Fairness Foundation<br>Zero Hours Justice<br>Good Business Foundation<br>Crossroads Women<br>Prisoners Advice<br>Animal Aid<br>Parallel Histories<br>Article 39<br>CIWF INTERNATIONAL<br>Amnesty International<br>League Against Cruel Sports<br>London Mining Network<br>Prison Reform Trust<br>Changing Faces<br>The Civil Liberties Trust<br>TaxWatch<br>Christians Against Poverty<br>Commission on Political Power<br>Compassion in World Farming<br>ISAIAH 61 Movement<br>All grants payable in 2023 have been made to institutions.<br>All expenditure is unrestricted expenditure.<br>3<br>GOVERNANCE COSTS<br>Insurance<br>Legal expenses<br>Admin costs<br>Other office costs<br>Bank charges<br>Professional fees|2023<br>£<br>205,000<br>150,000<br>120,000<br>80,000<br>35,000<br>35,000<br>33,000<br>30,000<br>22,875<br>20,000<br>20,000<br>20,000<br>20,000<br>20,000<br>20,000<br>20,000<br>-<br>-<br>-<br>-<br>-<br>2023<br>£<br>1,236<br>3,900<br>18,368<br>10,059<br>115<br>11,941<br>45,619|2022<br>£<br>80,000<br>-<br>-<br>120,000<br>35,000<br>-<br>-<br>-<br>45,000<br>-<br>-<br>-<br>-<br>20,000<br>-<br>-<br>115,000<br>25,000<br>20,000<br>20,000<br>20,000<br>2022<br>£<br>127<br>6,021<br>-<br>1,485<br>90<br>6,750<br> <br>14,473|
|---|---|---|



16 



The Persula Foundation (A Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 April 2023 

## 4 EMPLOYEES 

The charity did not have any employees during the year. 

No Trustee received any remuneration during the year.  Expenses reimbursed during the year in respect of travelling and subsistence costs to meetings amounted to £ nil.  The Charity has paid a premium of £1,236 (2022 £127) with respect to indemnity insurance for its Trustees. 

The key management personnel of the charity comprise the Trustees. The total employee benefits of the key management personnel of the Foundation were £nil. 

|5<br>NET EXPENDITURE FOR THE YEAR<br>The net expenditure for the year is stated after charging:<br>Auditor’s remuneration – statutory audit|2023<br>2022<br>£<br>£<br>7,950<br>6,750|
|---|---|



## 6 TAXATION 

No liability to corporation taxation arises as The Persula Foundation claims exemption under the provisions of Section 505 Income and Corporation Taxes Act 1988. 

|7<br>DEBTORS<br>Other debtors<br>8<br>CREDITORS: Amounts falling due within one year<br>Other creditors<br>Accruals<br>9<br>UNRESTRICTED FUNDS – GENERAL<br>FUND<br>Balance brought forward at 01 May 2022<br>Net movement in funds for the year<br>Balance carried forward at 30 April 2023|2023<br>£<br>2,720<br> <br>2,720<br> <br>2023<br>£<br>28,276<br>50,415<br> <br>78,691<br> <br>2023<br>£<br>255,416<br>(32,707)<br>222,709|2022<br>£<br>2,720<br> <br>2,720<br> <br>2022<br>£<br>21,126<br>65,500<br> <br>86,626<br> <br>2022<br>£<br>-<br>255,416<br> <br>255,416|
|---|---|---|



17 



## The Persula Foundation (A Charitable Incorporated Organisation) NOTES TO THE FINANCIAL STATEMENTS (continued) for the year ended 30 April 2023 

## 10 RELATED PARTY TRANSACTIONS 

|**Name of party**|**Relationship**|**Description**|**Value of transactions in**|**Value of transactions in**|**Balance**|**at year**|
|---|---|---|---|---|---|---|
|||**of**|**the year**||**end**||
|||**transaction**|||**(creditor)/debtor**||
||||2023|2022|2023|2022|
||||£|£|£|£|
|Richer Sounds|Common Trustees/Directors|Donations/|1,293,200|737,767|(28,276)|(21,126)|
|Limited||Recharges|||||
|Richer Sounds|Common Trustees/Directors|Donated|18,368|-|-|-|
|Limited||Services|||||
|The Fairness|Common Trustee (J Richer)|Donations/|-|284,152|2,720|2,720|
|Foundation||Recharges|||||
|The Fairness|Common Trustee (J Richer)|Grant Paid|150,000|-|-|-|
|Foundation|||||||
|Zero Hours Justice|Common Trustees/Directors|Grant Paid|120,000|-|-|-|
|ASB Help|Common Trustee (J Richer)|Grant Paid|205,000|80,000|-|-|
|TaxWatch|Director (J Richer)|Grant Paid|-|115,000|-|-|
|Good Business|Common Trustee (J Richer)|Grant Paid|80,000|120,000|-|-|
|Foundation|||||||
|The Levy Rifkind|Common Trustee (J Levy)|Grant Paid|12,000|6,000|-|-|
|Foundation|||||||



Of the monies owed to Richer Sounds Limited £10,060 relates to general overhead expenses. 

18