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2020-12-31-accounts

Company number: 00601207 Charity Number: 206062

The British-German Association

Report and financial statements For the year ended 31 December 2020

The British German Association

Contents

For the year ended 31 December 2020

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiner’s report ...................................................................................................... 7 Statement of financial activities (incorporating an income and expenditure account) ..................... 9 Balance sheet ............................................................................................................................... 10 Statement of cash flows ................................................................................................................ 11 Notes to the financial statements ................................................................................................. 12

The British German Association

Reference and administrative information

For the year ended 31 December 2020

Company number 00601207
Country of incorporation United Kingdom
Charity number 206062
Country of registration England & Wales
Registered office and 34 Belgrave Square, London, SW1X 8QB
operational address
Trustees Trustees, who are also directors under company law, who served
during the year and up to the date of this report were as follows:
Mr Peter Barnes Chairman
Mr Philip Mallinckrodt Hon Treasurer
Dr Sybille Steiner Hon Secretary
Mr Paul Farrelly
Mr Paul Stocker
Ms Miriam Thiede
Ms Heide Bauman (resigned 15 March 2021)
Mr Andrew Gilchrist (appointed 13 January 2020)
Mr Maurice Hirt (appointed 6 July 2020)
Mr Magnus Korsaeth (resigned 6 July 2020)
Company Secretary Dr Sybille Steiner
Independent Jonathan Orchard
examiner Sayer Vincent LLP
Chartered Accountants
Invicta House
108-114 Golden Lane
LONDON
EC1Y 0TL

1

The British German Association

Trustees’ annual report

For the year ended 31 December 2020

The trustees present their report and the financial statements for the year ended 31 December 2020.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Aims and Objectives

The objects of the British-German Association are, for the public benefit:

Progress towards these objectives

2020 was overshadowed by the COVID-19 pandemic. Despite, or perhaps because of, these challenges, 2020 was a year of significant progress for the BGA. Thanks to the organisational reforms we had introduced earlier, the BGA was able to respond rapidly to the new situation, introduce a newsletter, move events online, and increase our membership to record levels.

During 2019, we had worked hard to automate our interaction with our members. Members were able to join the BGA and book to attend events via our website, and our interactions with our members moved from post to online. This enabled us to switch from office to home working before the lockdown started with minimal disruption to our activities.

2

The British German Association

Trustees’ annual report

For the year ended 31 December 2020

Newsletter. In response to the pandemic, we introduced an online weekly newsletter. The newsletter contained links to online sources of German-language learning and culture, which in the early stages of the lockdown were often available for free. In addition, the newsletter contained a Word, Quiz and Quote of the Week. The weekly newsletter was initially conceived as a stop-gap measure before we were able to put on our own programmes, but it proved so popular that we have continued to publish a newsletter at reduced frequency. We have also made the newsletter available to all schools in our Youthbridge network, and the feedback suggests that many schools have found it a valuable teaching aid.

Events. Within two months, we were able to start our programme of online events. Compared to physical events, online events were easier to organise, easier for international speakers to participate in, and could reach a more geographically diverse audience. So from June until the end of the year, with the exception of August, we were able to stage two or three high-level events each month, on a range of current affairs, cultural and historical topics. We organised events with a wider range of partners, including, for example, the International Association for the Study of German Politics, the Centre for European Legal Studies, the Royal College of Music, and the Jewish Museum. All our events were open to schools in our Youthbridge network, and since our events were online, we were able to record them and make them publicly available on our website. As a result, our events have made a valuable contribution towards our educational goals.

Membership. BGA membership is open to anyone who supports our charitable objectives, and we aim to make BGA membership as accessible as possible. Despite some membership losses due to death or changed circumstances, our total membership grew during the course of the year from just over 350 to over 460 members. As significant as the increase in numbers was the composition. We have started attracting prominent politicians, journalists, businesspeople and lawyers as individual members. We added to our regional membership. And the number of our members who are 35 or under grew from under 80 to over 120, over a quarter of our total membership.

Schools. As mentioned above, the move online meant that we could provide greater direct benefits to schools teaching German or subjects related to Germany. Any school that requests to do so can join our Youthbridge programme, which provides access to prizes and certificates for German-related activities. We made our newsletter available to all Youthbridge schools, and schools told us that the newsletter was a valuable teaching resource. In addition, we enabled teachers and sixth-formers at Youthbridge schools to have free access to BGA events. Over the course of the year we increased the number of schools in our Youthbridge network from around 80 to around 120.

Regions. In addition to the work that the British-German Association carries out directly, we believe it is important to encourage and support the work of like-minded organisations. Paul Bristow justified our appointment of him as Kent Representative by organising a successful online conference for all willing town-twinning organisations in Kent. And we won a small grant from the Foreign Commonwealth and Development Office to undertake systematic mapping of Germanrelated activities in the north of England. We expect to build further on these initiatives in 2021.

3

The British German Association

Trustees’ annual report

For the year ended 31 December 2020

Conclusion

The BGA now has strong governance, a dedicated executive, and unprecedented financial strength. 2020 was a year or progress despite the pandemic, and we expect to be able to advance our objectives significantly further in 2021.

Peter Barnes Chairman British-German Association

Risk management

The Trustees have identified the major risk to which the charity is exposed as being the need to raise sufficient income to cover management costs, including salaries incurred to meet the charitable activities. These risks have been addressed partly by a membership drive, partly by aiming to more than cover direct costs on most events, partly by raising corporate sponsorship and significantly with a major donation. The Association has detailed management accounts during the year.

Financial Review and Reserves Policy

From December 2019 to December 2020, the British-German Association’s total funds increased from £157,733 to £366,045. The principal contributor to this increase in funds was a legacy from the MV Barnes Estate of £186,134. The BGA also benefited from generous donations from the Schroder Foundation, William H Salomon, and the German British Forum.

The Trustees decided to extend the range of the BGA’s activities in order to increase the charity’s social impact and public benefit. This will entail an underlying increase in the BGA’s annual expenditure. Total expenditure which increased from £68,429 in 2018 to £81,953 in 2019, fell to £71,651 in 2020 due to lower events activities arising from the Covid-19 crisis. The Trustees are however committed to a significant further increase in activities and therefore spending in 2021.

The British-German Association’s policy is to increase reserves as the scope of the charity’s activities also grow and to enable the charity to incur at times expenditure ahead of income. We are working to increase both regular donations and corporate and individual membership. We do not anticipate that income will cover expenditure in 2021. The Trustees therefore plan to hold reserves at a sufficient level to ensure business continuity, to allow the British-German Association

4

The British German Association

Trustees’ annual report

For the year ended 31 December 2020

to take advantage of strategic growth opportunities, and to provide a cushion for unforeseen developments.

Plans for future periods

The Trustees plan to continue to expand the reach and activities of the charity in 2021. Reserves will be maintained at a prudent level consistent with that growth.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 25 March 1958 and registered as a charity on 11 August 1970.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

Statement of responsibilities of the trustees

The trustees (who are also directors of The British-German Association for the purposes of company law) 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).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

The British German Association

Trustees’ annual report

For the year ended 31 December 2020

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 for Individual Members and £5 for Corporate Members to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 10 May 2021and signed on their behalf by

Philip Mallinckrodt Honorary Treasurer

6

Independent examiner’s report

To the trustees of

The British German Association

I report to the trustees on my examination of the accounts of The British-German Association for the year ended 31 December 2020.

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)/Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

7

Independent examiner’s report

To the trustees of

The British German Association

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Name: Jonathan Orchard FCA The Institute of Chartered Accountants in England and Wales Address: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL Date: 7 July 2021

8

The British-German Association

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2020

Unrestricted
Note
£
Income from:
2
238,234
3
29,301
4
260
2,663
270,458
5
1,637
5
67,781
69,418
92
6
201,132
201,132
Reconciliation of funds:
108,471
309,603
Investments
Other
Total income
Expenditure on:
Donations and legacies
Charitable activities
Raising funds
Total expenditure
Net income / (expenditure) before net
gains / (losses) on investments
Charitable activities
201,040
Total funds brought forward
Net gains / (losses) on investments
Net income / (expenditure) for the year
Total funds carried forward
Net movement in funds		 Unrestricted
Note
£
Income from:
2
238,234
3
29,301
4
260
2,663
270,458
5
1,637
5
67,781
69,418
92
6
201,132
201,132
Reconciliation of funds:
108,471
309,603
Investments
Other
Total income
Expenditure on:
Donations and legacies
Charitable activities
Raising funds
Total expenditure
Net income / (expenditure) before net
gains / (losses) on investments
Charitable activities
201,040
Total funds brought forward
Net gains / (losses) on investments
Net income / (expenditure) for the year
Total funds carried forward
Net movement in funds		 Restricted
£
9,413
-
-		 Endowment
£
-
-
-		 2020
Total
£
247,647
29,301
260
2,663		 Unrestricted
£
44,000
51,010
54
-		 Restricted
£
244
-
-
-		 Endowment
£
-
-
-
-		 2019
Total
£
44,244
51,010
54
-
270,458 9,413 - 279,871 95,064 244 - 95,308
1,637
67,781		 -
2,233		 -
-		 1,637
70,014		 -
79,420		 -
2,533		 -
-		 -
81,953
69,418 2,233 - 71,651 79,420 2,533 - 81,953
92
201,040		 -
7,180		 -
-		 92
208,220		 -
15,644		 -
(2,289)		 -
-		 -
13,355
201,132 7,180 - 208,312 15,644 (2,289) - 13,355
201,132
108,471		 7,180
37,262		 -
12,000		 208,312
157,733		 15,644
92,827		 (2,289)
39,551		 -
12,000		 13,355
144,378
309,603 44,442 12,000 366,045 108,471 37,262 12,000 157,733

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19a to the financial statements.

9

The British-German Association

Company no. 00601207

Balance sheet

As at 31 December 2020

As at 31 December 2020
Balance sheet		 Company no. 00601207
Note
Fixed assets:
11
12
Current assets:
13
14
Liabilities:
15
19a
Total unrestricted funds
General funds
Total charity funds
Investments
Cash at bank and in hand
Tangible assets
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Stock
Debtors
Total assets less current liabilities
Restricted income funds
Unrestricted income funds:
Designated funds
Endowment funds		 £
2,271
6,335
114,438		 2020
£
906
250,186		 £
-
4,584
160,755		 2019
£
-
-
251,092
114,953		 -
157,733
123,044
(8,091)		 165,339
(7,606)
-
309,603		 7,222
101,249
366,045 157,733
366,045 157,733
12,000
44,442
309,603		 12,000
37,262
108,471
366,045 157,733

The opinion of the directors is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge the following responsibilities:

Approved by the trustees on 10 May 2021 and signed on their behalf by

Philip Mallinckrodt Honorary Treasurer

10

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

1 Accounting policies

a) Statutory information

The British-German Association is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address is 34 Belgrave Square, London, SW1X 8QB.

b) Basis of preparation

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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. 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 nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the date on which a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

11

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £250. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

k) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

l) Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

12

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

p) Financial instruments

The charity has both basic and non-basic financial assets and financial liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Non-basic financial instruments are measured at fair value with any gain or loss going to the statement of financial activities. Full details are given in the financial instruments note.

2 Income from donations and legacies

Income from donations and legacies
Donations - cash
Donations - in kind*
Legacies		 Unrestricted
£
28,100
24,000
186,134		 £
9,000
-
413
Restricted		 2020
Total
£
37,100
24,000
186,547		 Unrestricted
£
20,000
24,000
-		 £
-
-
244
Restricted		 2019
Total
£
20,000
24,000
244
238,234 9,413 247,647 44,000 244 44,244

3 Income from charitable activities

Income from charitable activities
Corporate subscriptions
Individual subscriptions
Gift aid
Events activities
Total income from charitable activities		 Unrestricted
£
12,500
14,123
2,078
600		 £
-
-
-
-
Restricted		 2020
Total
£
12,500
14,123
2,078
600		 Unrestricted
£
18,500
11,612
1,770
19,128		 £
-
-
-
-
Restricted		 2019
Total
£
18,500
11,612
1,770
19,128
29,301 - 29,301 51,010 - 51,010
Income from investments
Government Treasury Bills
Bank interest		 Unrestricted
£
222
38		 Restricted
£
-
-		 2020
Total
£
222
38		 Unrestricted
£
-
54		 Restricted
£
-
-		 2019
Total
£
-
54
260 - 260 54 - 54

All income from investments is unrestricted.

13

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

5a Analysis of expenditure (current year)

Staff costs (Note 7)
Other staff costs
Premises*
Other office costs
Website costs
Youthbridge
Events activities
Independent Examiner fees
Legal fees
Irrecoverable VAT
Depreciation
Other
Governance costs
Total expenditure 2020
Total expenditure 2019		 Raising funds
£
-
900
-
-
-
-
587
-
-
-
-
-		 £
30,166
348
24,000
2,684
1,108
2,233
1,529
-
-
-
422
1,091
63,581
6,433
70,014
81,953
Charitable
activities		 Governance
costs
£
-
-
-
-
-
-
-
2,500
3,583
500
-
-		 2020
Total
2019
Total
£
£
30,166
23,718
1,248
-
24,000
24,000
2,684
4,121
1,108
7,666
2,233
2,533
2,116
14,326
2,500
2,160
3,583
2,100
500
-
422
-
1,091
1,329
71,651
81,953
-
-
71,651
81,953
1,487
150		 6,583
(6,583)
1,637 -
- -

14

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

5b Analysis of expenditure (prior year)

Staff costs (Note 7)
Other staff costs
Premises*
Other office costs
Website costs
Youthbridge
Events activities
Independent Examiner fees
Legal fees
Other
Governance costs
Total expenditure 2019		 Raising funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 £
23,718
-
24,000
4,121
7,666
2,533
14,326
-
-
1,329
77,693
4,260
81,953
Charitable
activities		 Governance
costs
2019
Total
£
£
-
23,718
-
-
-
24,000
-
4,121
-
7,666
-
2,533
-
14,326
2,160
2,160
2,100
2,100
-
1,329
4,260
81,953
(4,260)
-
-
81,953

15

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2020 2019
£ £
Depreciation 422 -
Independent Examiner's Fee (excluding VAT) 2,500 1,500

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Social security costs
Salaries and wages
Redundancy and termination costs
Employer’s contribution to defined contribution pension schemes		 2020
£
29,481
-
-
685		 2019
£
23,718
-
-
-
30,166 23,718

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2019: £nil). No charity trustee received payment for professional or other services supplied to the charity (2019: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2019: £953) incurred by 0 (2019: 1) members relating to attendance at meetings of the trustees.

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 1 (2019: 1).

No employee received employee benefits, except for contributions to pensions.

9 Related party transactions

During the year the Schroder Foundation, of which PS A Mallinckrodt is a Trustee, awarded an unrestricted grant of £20,000 to the British German Association (2019: £20,000). This is recognised in the Statement of Financial Activities for the year.

Aggregate donations from related parties were £206,134 (2019: £20,000).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

16

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

11 Tangible fixed assets

Tangible fixed assets
UK Government Treasury Bills
Finished goods
Net gain / (loss) on change in fair value
Eliminated on disposal
At the end of the year
Net book value
At the start of the year
At the end of the year
At the end of the year
Additions in year
Disposals in year
Depreciation
Fair value at the start of the year
Additions at cost
All of the above assets are used for charitable purposes.
At the start of the year
Charge for the year
At the start of the year
Cost
Investments comprise:
Listed investments
Stock
Disposal proceeds
Fair value at the end of the year		 Computer
equipment
£
-
1,328
-		 Total
£
-
1,328
-
1,328 1,328
-
422
-		 -
422
-
422 422
906 906
- -
2020
£
-
550,094
(300,000)
92		 2019
£
-
-
-
-
250,186 -
2020
£
250,186		 2019
£
-
2020
£
2,271		 2019
£
-
2,271 -

12 Listed investments

17

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

Debtors
Prepayments and accrued income 2020
£
6,335		 2019
£
4,584
6,335 4,584

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Amounts due to associated undertakings
Taxation and social security
Trade creditors
Other creditors - Pension
Accruals
Deferred income (note 16)		 2020
£
577
477
158
-
3,210
3,669		 2019
£
-
105
145
-
4,610
2,746
8,091 7,606

16 Deferred income

Deferred income comprises membership income relating to 2021, received in advance in 2020.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2020
£
2,746
(2,746)
3,669		 2019
£
-
-
2,746
3,669 2,746

17 Financial instruments

Financial instruments
2020 2019
£ £
Financial assets measured at fair value through profit and loss
Investments 250,186 -

18

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

18a Analysis of net assets between funds (current year)

Net assets at 31 December 2020
Investments
Net current assets
Tangible fixed assets		 General
unrestricted
£
906
250,186
58,511		 Designated
£
-
-		 Restricted
£
-
-
44,442		 Endowment
funds
£
-
-
12,000		 Total funds
£
906
250,186
114,953
309,603 - 44,442 12,000 366,045

18b Analysis of net assets between funds (prior year)

Net current assets
Net assets at 31 December 2019		 General
unrestricted
£
101,249		 Designated
£
7,222		 Restricted
£
37,262		 Endowment
funds
£
12,000		 Total funds
£
157,733
101,249 7,222 37,262 12,000 157,733

19

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

19a Movements in funds (current year)

Movements in funds (current year)
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Restricted funds:
Youthbridge Funds
Endowment funds
Sir Frank Roberts Memorial Fund
Prince Friedrich Lecture Fund
Total funds
Unrestricted funds:
Designated funds:
New Age - New Skills
British-German Officers' Association
Westman Bequest
Millennium General Purpose		 At 1 January
2020
£
10,000
2,000		 Income &
gains
£
-
-		 Expenditure
& losses
£
-
-		 Transfers
£
-
-		 At 31
December
2020
£
10,000
2,000
12,000 - - - 12,000
29,115
6,619
1,528		 9,413
-
-		 (2,233)
-
-		 -
-
-		 36,295
6,619
1,528
37,262 9,413 (2,233) - 44,442
300
6,922		 -
-		 -
-		 (300)
(6,922)		 -
-
7,222 - - (7,222) -
101,249 270,550 (69,418) 7,222 309,603
108,471 270,550 (69,418) - 309,603
157,733 279,963 (71,651) - 366,045

The narrative to explain the purpose of each fund is given at the foot of the note below.

20

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

19b Movements in funds (prior year)

Movements in funds (prior year)
Total restricted funds
Total designated funds
General funds
Total funds
Unrestricted funds:
Designated funds:
Millennium General Purpose
British-German Officers' Association
Total unrestricted funds
Restricted funds:
New Age - New Skills
Youthbridge Funds
Endowment funds
Sir Frank Roberts Memorial Fund
Prince Friedrich Lecture Fund
Westman Bequest		 At 1 January
2019
£
10,000
2,000		 Income &
gains
£
-
-		 Expenditure
& losses
£
-
-		 Transfers
£
-
-		 At 1 January
2020
£
10,000
2,000
12,000 - - - 12,000
31,404
6,619
1,528		 244
-
-		 (2,533)
-
-		 -
-
-		 29,115
6,619
1,528
39,551 244 (2,533) - 37,262
300
6,922		 -
-		 -
-		 -
-		 300
6,922
7,222 - - - 7,222
85,605 95,830 (80,186) - 101,249
92,827 95,830 (80,186) - 108,471
132,378 96,074 (82,719) - 157,733

21

The British-German Association

Notes to the financial statements

For the year ended 31 December 2020

Purposes of endowment funds

The Sir Frank Roberts Memorial and Prince Freidrich Lecture funds were endowed to provide income for the funding for annual memorial lectures.

Purposes of restricted funds

The Youthbridge Fund is to support the charity's German language promotion programme.

The New Age - New Skills fund was donated in 2001 by a number of German companies through the auspices of His Excellency the German Ambassador at the time and is intended to make grants to persons or bodies engaged in promoting the learning of languages and/or cross cultural communication skills.

The British-German Officers' Association no longer exists as a separate charity. Its remaining funds were transferred to the British-German Association on 22 January 2007.

Purposes of designated funds

The Millenium General Purpose fund was established with donations received as a result of Millenium Concerts held by the Salisbury Music Society in 2000 to assist with unusually heavy or unforeseen expenses.

The Westman Bequest was left to the British-German Association upon the death of a longstanding member in 1998. The sum has since been shown separately in the accounts as a memorial to Mrs Westman.

In 2020 both designated funds were released to general unrestricted funds.

The charity is a company limited by guarantee and has no share capital. In the event of winding up the liability of each member is limited to:

22