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:
- To advance the education of the people of the United Kingdom and Germany in each other’s peoples, languages, institutions, culture and artistic, intellectual and economic life and through such activities promote mutual understanding and good relations between the people of the United Kingdom and Germany;
- To advance such other purposes that are exclusively charitable under English law in order to promote mutual understanding and good relations between the peoples of the United Kingdom and Germany.
## 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
- High level links to Germany. The pandemic prevented travel to Germany after the first quarter. Nonetheless, we were able to use online means to reinforce our links with German institutions, and we expect this to result in concrete steps forward in 2021 once pandemic-related travel restrictions are finally lifted.
## 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:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
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:
- 1 Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- 2 The accounts do not accord with those records; or
- 3 The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
- 4 The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities; or
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:
- (i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
- (ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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
- 1 Accounting policies (continued)
- g) Interest receivable
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:
- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, in operating its membership schemes, as well as the cost of any activities with a fundraising purpose
- Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs
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:
- Computer equipment 3 years
## 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
- 1 Accounting policies (continued)
- o) Creditors and provisions
- Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## 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|
* The donations in kind in both 2020 and 2019 relate to the provision of rent-free office facilities in German House.
## 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|
- 4 Income from investments
|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||-||
||-||-||
* relate to the assessed value (by the trustees) of rent-free office faciliites in German House.
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|
|---|---|---|---|
* relate to the assessed value (by the trustees) of rent-free office faciliites in German House.
15
The British-German Association
## Notes to the financial statements
## For the year ended 31 December 2020
- 6 Net income / (expenditure) for the year
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
- 13 Stock
17
The British-German Association
## Notes to the financial statements
## For the year ended 31 December 2020
- 14 Debtors
|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
- 19 Movements in funds (continued)
## 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.
- 20 Legal status of the charity
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:
- £1 in the case of Individual Members;
- £5 in the case of Corporate Members.
22