INL)I'AL IIAIII F."I-I' LFltllll"Fl" Trustees, Report and Financial Statements 2020
Roy•l V*rlety Cbarlty Tt¢' R¢p)rt •md Fl•aThcwl S¢•t¢mMt 2020 CONTENTS Reference and Administtative DdaiLs 3-10 Staternent of Financial Activittes Balance Sheet 12 Cash Flow Statemeni 13 Notes to Fina111 Statements 14-21 Indepde Audilorn, Re 22-24
Roy81 V•rW Chlrity Trustees, Report #Dd Flnn¢l81 Sttement 2020 El¢¢ted MngemeHt Body (voluntary) ChoirmiW- Giles Cw. Vice Chwrmdn- Phjl th1¢ • Tr¢aTurr- lan Fyeanan The Ereculiv¢ Commitle¢.' Wyn Calvin MBE Kay Carman. Pat Church. DeDee Crosher, Phil D41e. lan Fre¢rnan, Paul Ganjou, Cheryl Gar]aTKL Valerie Garlan(L Fawn Jame& Martin Jort4 John Logan, Vicki Michelle MBE, George Mur4nyi. Gordon Peter4 Bab5 Powell, Robert Powell, Rev. Canon Roger Royle. Keith Sin]mon4 The Dowager Lady We$tbury CBE. JP. Trlee& (elected).. Giles Co¢)per (Chairrnanx laurie MansfK]d. Phil Dale. lan Freeman HOorry Members (b¢stow¢d) Hon. Lfi e-Prexidenl - Lauri¢ Mansfield, Hon. Vice•Presidents.' Roger De Courcry. Robert Earl Jnr. Sthart Littlewoo Joe Pasquale. Nick Thom&8 MBE. Brndley Wa]sh Life Gov8rnors fvary)." tord Mithael Grk CBE, The Dowager Lady Westbury CBE. JP H¢>n. Chaplaln: Rev. Canon Rogw Royle Regiltered addre. Brinsworth H(rtLS¢. T2 Styllies Rcl Twi¢k¢Jtham TW2 SAL Independenl audltors: Haysmacintyre LLP, 10 (Cen Street Pl, L(th EC4R IAG Sollcltors: Clintons. 55 Dnuy IAn¢ London WC2B RZ Bnkers: COU & Co. 440 stran ith(k)n WQR IXIS Arbuthnot Latham & Co.. Limitr& Arbu How 7 Wilson Stre¢ Im(kn EC2M 2SN Regtstered ¢uStodi. Smith & Williamson Tn1 Crat1 Limitol 25 Moor8*. Ixmdon EC2R 6AY Investment m•nag¢rs: Smith & Williams(m Investtnent Management LLP. 25 MooTgat4 London EC2R 6AY S¢hroder & Co Limilrsl 12 M(N)rgaK LoF¥Jon EC2R 6DA R¢gisl¢r¢d ¢b8rlty Dumber. 206451
Royal Varkty Chrlty Tnts¢¢es' Rtprt nd FIncIlI Statement 2020 The Trust¢¢s present their Annual ReNAt in eLMnpliance with the Chwill Ad 2011 and the Clwilie5 SORP {FRS102X together with th¢ audited fmancial 5t¢rnthts for the year ended 3111 De¢emTrKr 2020. Referen¢¢ and AdrniJistrAtive lttforMtlo Th¢ Royal VaTi¢ty Charity is a chaTity regi#eT¢d in Fsland & Wale& with numb¢r 251. Its Registered Offt¢ together with th¢ CIMrity's elected office and ¢le¢ted Thistees (ekcted from the Manbus of the Charity's Executive Committee). together with the Charity's exl¢mal lvisers aTrJ banker& arv Fffesenied ou page 2. Strw¢tu GoveTr•nee Mu8¢meDt The Charity is governeAJ by its Rule and Constitytim dat¢d I8 and last amended on 29 Jattu&y 2016. Th¢ Executive Committee elects frirtn its Membu& once every five y¢ar4 three urq)aid Office. a Chahrmaty 4 Vic Chairman and a TteaSUTer. to manage and oversee all aspxts of the Charity's operation and work. They have re5p(msibility to acl with thi¢ care and Considerati and atr rtquired to provtsje regular reports and updates to both the ChaTity's goveming Executive Commitlee and aJ50 to their elected board of TnLStees. The Executive Committee aiso ele¢ts from its M¢mb¢r& once every five y¢av4 of up to seven TTU5te¢s to be responsible for the Charity's financial inv¢stsnent& long-term 5trat¢gy and long-terni direction aTKI goals. The Executive Committee. whi15t d¢l¢gating managerial r¢4)onsibilities to its ¢lethd Officers and e]ected TnL5tee¥ concentratrs its own efforts decTding on admission5 10 the Charity's care h(yme (Brinsworth House). maint¢naEKe and improvements to the care home, the onsid¢r)tioA and implementati of thice from its elected Trtee5. and the aw8rdin8 of one-off and r¢gular grants to the Charity's many depen(lants oround the UK. Eath of the Charity's elected Officers and ekci TnL8t¢¢s I experi¢nr¢ of, and an under51Jnding of. specifK &spxts of the Cknity's WO and of splfi¢ ar¢&$ within the ¢ntertainment industy. This effective governing paTthership b¢ten the fijll Exeartive Cornmittee and it's elected OffJc¢rs and ¢tec¢¢d Trusttt4 together with th¢ (Jmrity's employed PrOf10n&1S. ¢onthl)utes significantly to the aTity's T¢SP¢et. sthding and 5UCi Th¢ ¢lK¢¢d Trustee5 meet to r¢vi¢w the fmancial standing of the Charity {including the inv¢stm¢ni perforniance of the Charity's reserve5) and to misider options for its long-tem stability and succus. They also agree and implement an amiual Iwating fancial budgrf whith is athewed to WOSS 811 dwm)ents of Erfjth the Charity and the home. Th¢y are also respsible for resolving any legal matt¢T4 empt0Cl dispute& or ony extrd-ordinary issues that may affect the Charity from timtrtfrtime. They also have delegat authority from the Executive Committee, for the appointmeni of the Charity's senior employed staff, such a4 the ChaTity'5 f]nan¢¢ director and the rnatron of the care home. They also review key mwJJgerncnt remuneTation each y¢)r. In 2020. the Tnjstees We in regular ¢¢)nl4¢t throu01 the paThlemic and in addrfion, held three formal Minu TnL8tee meeiings during the year. The Executive Committee m#ts at It Six tlln P yeaT and Tevws all matters of iMFanCe relin8 to the day.t day njnning of the Charity. It reviews re&3 its elecd Trustees. including up-tIFdatr monthly management accounts presented by th¢ Trwurer. They aPPTOV¢ or aword a]1 xKial 8rdnts, donaiions and gitis made by the Charity and ratify any expendirure not included in th¢ annual fmancial bJdgeL During 2020, the Executive Committee meetings were redu¢ed du¢ to the Covid pandanic. twi they still mana8ed to mee¢ quartwty. in aldition to the AG by video conference. The Exeujtive Committee oppints. fTOrn its Memba4 catsin 1COMmitte¢S Whh. in its opinion, are deemed necessary for its miye efficieni OFuion. SulTrwmmittres have no execuliv¢ (Y fornJ] pDwers bul aci to ensure that the responsibilities duties of the full Executive Committee are king ¢TI¢d out a5 thomughly and as etTiciently a5 possible, allowing for the maximum due consider1(. care and attention to all ttMtteT5. 11 15 the duty of the chairniaD of each SUb-MMittee to preseTrt its findiw and recommendations to th¢ Charity's Chairnian and to the full Executiv¢ Committee for discussion, r¢vi¢w. votin& action and [*Ifi10Th. During 2020. the Grartts su1COMmIttee m numerous times by vidty) cffifereneing to review new. exisling ond 0gOIng grant applicat10115. Th¢ re¢ornmendaiions of ea¢h Grdnts Sub-Commsne¢ meetin8 were ratified by th¢ TNs¢tts wtthin 24 hours folk)wing e8¢h meetin& which the TTte% kindly stepped iD to in the absence of the usual fidl Executive Committee me¢tings. du¢ to th¢ Covid pandemic.
Roy81 Varlety Cbrlty Trnsteeg. Rep>rt Bd FiDaDeial Ststement 2020 tontlD4ted Admlnistr8tlo Our unpaid, elected Chairman. Giles Cooper. coniinu¢d this ye8T with a hand5-on approach to the man4geAnent of the Charity and presented the Tnjstees and Executive Committee with regular opwrtunities to ob5erYe and influence th¢ day- ¢frday operation. The vatue of donated (unpaid) services afforded to the Charity over the period by ihe Chairman, Giles Cooper, is ¢511med to be £90,cl) (2019: £85.(KK)). The Chariry would like to ple on record its thanks io Giles C(x)per for all his tirn¢ and eff in this respect and also for his on the Charity's m4in fundraising even( the Royal Variety Perforn)an¢e. ArcouDtiM% Reporting Resplbllslbilities The ele¢tsd Trus¢¢e5 arr re5w)nsibl< on behalf of the Executive Committe< for Freing the Tnle¢s. Report and Financial Staiements in a¢¢ordance with applicable jaw and United Kin8&)m A¢wurttiDg stsnd¥ (United Kingdom Gen¢rnlly Acc¢pted A¢coun¢ing Pra¢tic¢). The law applicable to clwit1 in England and Wales requires the TrStee5 lo pr¢par¢ financial statements for ea¢h financial year whT¢h give 4 true and fair view of the State of affairs of the Charity of th¢ InMing resources and application of resources of the Charity for that FrKKI. ID Frywing these financial statements. the TTUSt¢¢5 are required to: Select $uithble xa)unting policies and then apply them consistently" Observ¢ and comply with the method& gllidelines ond rrfin¢ipks outlined in the Charity Commission's 'Siatern¢ni of RQMMended Practice. (SORP). To make judgements and estima what is reasonable and prud¢nL wFther applicable accounting standards and stst¢ments of recommended prdciice have followrf subj1 lo any material departures disclosed and explained within the fmancial statements; To prepare the fm8ncial thtements on 4 going concern basis unless it is Inapp1 to PuMe the Charity will continue in operation: To employ a fmance dire¢tor with delegated Tesponsibility for keq)in8 proper accourjting ffcord5 and who 15 able to disclose with all rea50nabl¢ aa¢Y at any tirne the fmancial position of th¢ Charity aDd to enable them to ensure that the financial statern¢nts comply with the Charities Ad 2011 and the Chariii¢s SORTr (FRS102), the Charity (Aceounts and Reports) Regulatiorts there under and the w)vi$ions within th¢ Charity's Rule5 and Constillrtion. The $pSibIlity fw safrguarding the assets of the Charity an4 fortaking Th51)nable 51¢ps to ensure the pr¢ventiOn and detection of fiaud and other irre8ulariti The respcffisibility for rnatntstning honesty. integrity 8nd pr1¢¢ within the Charty. and to ensure that all fjnancial infomiation presenied tnternalty publi¢ly presents a true and honest reflection of its Siation. l#trrn•l CoDtrol4 TraRspareucy and DlthurtB Internal cltrol5 over all fonns of exwditiwe contitiu¢ to Ix r¢fitKd to imwive ¢fficiency, with financial processes and 5af¢guard5 in p]ace to ensure that pufomance is monitored c105¢1y. Th¢ Charity's employed fjnance dIreCr is responsible for Providll a monthly reikn {¢0tt18ining all mall¢t5 of importance) together with rnonthly managemeoi accounts for review by the elected Chairn)an, elected Treasurer artd honi)rary Life-Pre5id¢nL Th¢ Treasurer, in-tum, presents a summary of this reFW with mana8emeM ac¢oun4 to th¢ Ex¢¢utive Cornmittee at each ofthetr rneeting& Internal controls include. a detailed annual finartcial iXK1 gwyoved by the Trustees" regular consideration by th¢ Ttee5 of the ongoing fmancial r¢sulw including, variances from budgets and benchmarkin8 revtews" the delegation of day-to-day rnanagemenl authority" and the identifi]0 of, and managem1 of, risks. Whi15t the elected Ttee5 are Tesponsiljle for strategy and the long-tern) w¢ll-bBing of the Charity. it 15 the 8overnÈn8 Executive Committee that is at the heart of the day_to-day 0ratiOn. A minTmwn of15 of its 24 member5 meet at least six time5 per year to approve and Mify expendifuTe of the chority. This include5 eXndituTe nol included in the annual finartcial budget and the awarding of grat)4 pensions and other paym¢nts to the Charity's many beneficiaries. The Executive Committee is also responsible for the Charity's care home, Brinsworth House and this responsibility includ¢5 the home's upkeep, r$ and maintenanc4 together with the safety. security and well-being of its many residents.
Roythl V8rkty Chrlty Trnt¢es' Reyt and #¢]1] Stsl•eDI 2020 Inter#l Contro4 TrupArew¢y Di%¢k•ru (eoatiwued) In 2020, the Trustees r¢-appoitit¢d Smiih & Williamson Trust Corporation Limitrd as th¢ Charity's rtgierCd UDdIn$. As custodian& Smith & Williamson hold on trust all tide deeds of the Charity's woperti¢s and ¢uMtyJy of the charity's various tradema$. Publlc BeefJt Th¢ Charity remains commi¢ted to the aim of wovidin8 '11¢ iuefit. ID acc01th with its founding p)licies, and the Trustees confmn that they have paid due rewd to the provTrsions of se(ion 17 of the Charities Act 201 l in seitin8 aims and objectives al plOmlTng te activities. Th¢ Charity. under its Chainnanship. h&8 been transform over re¢ent years and ni)w provides a modern spirit of and including detail di10$U[c$ and a ¢ompl overhauling of the Charity's governing 'Rui¢s and Constitution.. (Xtr Grants sulKornmittee met 19 10n$ (usually by vitho conference) over th¢ yeor and at all times carefully ¢onsid¢red arw where it could improve our wo for 'public benefit. and 5ub3¢qu¢ntty recommended to our fvll Executive Committee that they rify the awardin8 of numerous grants, pensions and gifts to those in eL This year. the Charity awarded gmts individuals totalling £116.933 (2019: £125.019). In addiiion to the the Clwiry Contribut £214.142 (2019: £203,575) towards care home fee shortfalls for residents at Brinswoffh Hous& The Charity 41s0 Sp £361,158 on refillbishrn¢M and improvement costs io Brin$worth House. incl178 a new kitrhen and dining rm. In summary. the Charity's operationa] plans are devised w combine ow strt¢gs¢ obiedives with our fmancial means 8nd ore dev¢loprd M]Mise our expendi¢ur¢ fowards our many ben¢fi£iari¢s; being mind1 of th¢ Cbarity Commission's guidance M incre&sing'publi£ b¢nefrt'. Rl$k Man•gement The Trn$tees have intrCrfIl fixJn41 risk mwement pTo¢esw to assess risks aTKI irnpl¢memt risk management strategies. This has involved id¢niifyitig the type5 of risks the Charity nw face. PTi0ri115ing them in iern)s of p)tential impa¢1 and their 1ClihOOd of wurnce. and then identifying means by which io mitige those risks. As part of this process the Trustees hav¢ r¢viewed the adequacy of the Charity's current internal controls ond the costs of opeTating particular controls rel4tiv¢ w the benefits obtained. Procedures have been established for re)Ing failings immedialely io apprOpre l¢v¢ls of management and Offi¢ets. The principal risks and uneatsinties facing the Chtirity are the Protection of the interests and ne¢d4 of our more vuln¢Trble beneficiaries and our continuing dep¢nd¢ncy on public support for th¢ fmanctns of our e5s¢ntial xtivitie& as noted below and in c(ynnect]c with our res¢rves FK)licy. In vi¢w of the legislative thange5 within the Chariti¢s Art 2011 WRth relation to car¢ {¢& the Charity h&8 employed th¢ services of Croner Group Limitrd w provide petent trchnical advice and prndic81 support in the management of H¢alth. Safety and Wellbeitig and whose main role is to ensure that all regpJlatLHy requir¢m• are complied with and maintsined. The generic controls used by the Charity to minimise risk include: Any strategic d¢v¢lopmaJt planning under T¢Vi¢W; Comprehensive iwd8etin8 and managem1 accounting. Fith)al written poli¢ies including clear authorisalion aThl amxoydl leve. Vetting proced as Tequired by law for the prot¢d1 of th¢ vulnerable" Health and safety is always pararnount as part of our risk rnpnagernent controls and the risk5 within the care home range from fwe ha7Ards to infTastru¢wre repairs and mainten•nce to personal risk& The amount of xtivities within the care home are èrt)ih abundani and impressive and the risks 8sso¢iatrd with all activities 8re minimised to the best of the Charity's abilty thTough planning and continu. ffi-gollig risk assessrnenL The T1¢¢5 and Ex¢¢utiYe Committee are Satisf th4 for au maiw risks idthiified, apFYi¥rith ccffltro15 and fim(Ls irt the R¢seTh¢s are in place aTHJ mainwed to mitiga1¢ thJ5¢ adequ*ty.
Royal VrW CbArlty Truthes, Report •nd Fl4ncial St&l¢w¢ffjt 2020 Trnstees, Re rt ¢on¢i RO3k MaTragemeDt (eoMtin•ed) It is reco15¢d. however. that SYemS and risk management £41S ]Y proviik a level of reasonable a55uranc¢ and not abSole a55UTance that major risks have mryed and minimised effediv¢ty. The TruMees are monitoring the effects of the ¢oronaviru5 (COVItN19) up)n the (werations of the Charity. There have been no significant effects in 2020 which have had impt on financial wfonnance. The Charity's main fundrwsing event was held in 2020 41beit without ticket sales but ovmll generdted substantial funds. It i5 anticipated that th¢ 2021 perfonnan¢e will go ahead as in previous yea Th¢ Iixkdown has prevented the Charity from raking any new admissions at its home, Brinsworth Hous¢. but it is anticipated that this restriction will be withdrawn in 2021 Tesultin8 in increase in oc¢upancy levels for the r¢moind of th¢ year. The Charity saw an initial redudion in the va]uation of investments held in its investment portfolio in 2020 but r¢cov¢ry was made rore the Ye ¢nd No wtrealised gains or losw are i¥Jdgeted tn 2021 and th¢ TTUStees do not fttl this will have a materlal imp¥t as the intention is not to liquidate investments. Aims Objeftivfs and Actlvltles of th¢ Chrity As detailed above, the Charity h&8 always paid rewd and consideNion the publithed guidelines by the Charity Commission relating to the 'public benefit. T¢quirement of the Chariiies A¢t2011. Mlsslott Ststtthetst The Charity strive5 to support all thos¢ in need of hejp and assistsnK Ixxh yimmg and 014 who have worked on the stage, in the wings. in front of a camera (* behind IL a5 well as all those who have Spent their lives working in the num¢rou$ support indu5trie5 upon which th¢ ¢nt¢rtainment profession relies. Aims ObJe¢¢ives The Charity's aim$ and objectives are for the relief of pxjvty of FKrforn)ers and entertainers, and other people who are or have been ¢los¢ly associated with the entertainrneni profusion ('EntertaiDmertt Artisie5'), and their surviving partn¢rs. spouses and dependants and for this purpw, but not oth¢rwise. the inc(nne and pr(4)erty of the Charity shall be applied solely for the promotion of those object4 including: To pay pensions or to award grants and loans lo alleviate Iw&hRp: To contribute to p&ily, or pay 411. fimeral expenses: For so long &% the Executive Cornmittee and Tntstees shall deterniiRe to operate and maintain a nursing and care home for 'Entertainmeni ArtÉstes' and to contribute th partly. or pay, the fres a55OCiated with b¢ing a resideni in the home. The Charity'5 dedicated care home. BTinSWOrth House in Twickenham. west London. has facilities for up to 38 residents - 19 re5id¢ntial and 19 nutsing care residents- who require 11 or semi-nursing care. (kn vision is to ensure for those who have dl¢ated their lives to the entertainment of others that illness, povety and old ge don'l hinder and degrade the remainder of their lives. Our objectiv¢ is to provide relief io 'Entertainment Artist¢$' and their familie5 by helping io improve their cornforL suffering and mi5f(¥fune by woviding supwi and Working in partnership with those who $hare our vision and mission. A¢hievemeDts and Perfom¢t As has been the case since the Charity was founded in Ig¥)8. it's care home, BTinsworth House. tn Twickenham. wesi London, 5its at the very core of its Otwalion. Members of the managunent aTe in close daily conta¢t wilh the home's clinician5 and admiDiArawrs to ensure that the established high Stsndards of care and xcommiKlation are rnaintoin¢d and enhanced.
Royal Varlety Charity Trnteej. Rert •d FR•nthl 2020 Aeblevernmts Dd Perfornnt¢ (wklh¥ed) Monthly meetings are held with stsff and with Te5idents ond their farnilie5 to ¢5tsblish levels of 5atisfa¢tion and identify any areas which may Tequire aneniion. The Cbarity athered to social dkststicittg rnles during th¢ p¢ri(xLs of lock- down, wbich have cwlailed meeiings with Tesidents. f¥mili¢s resuhiDg in CODts¢¢ being maintained by othermeans. The Charity's Executive Committee memkn are dKp5¢n kn rewesent all age to provide advice and Cowwl based on their extensive exp¢riM¢e working in a wide Yariety of busin and ¢htrity se(or4 i1]ing pmpety. finance, Charity administralioD and the entertaim¢nt inw itself. On lhe 18th mah. a few days before the nationwide lockdown. T¢¢$ inSts¢ted all staff working at our King Street offices to relocate and WO from IKMne 8ttd ordered BrinswoTth House to close its dLx)T5 10 all visitors. A few days lar, the UK ent¢red into full lockdown. PPE and testing kits wae Ur¢£d wilh any r¢sidenl who displayed sympioms being isolated in their rooms. Adequate PPE was provided to allow our nursing &aff So cave for them. TTUStees 5pFd in ¢0 rdiify grarftt applications whith were pouring in from ] ov¢rth¢ UK. Entertainment and 4Ctivities becarne essential fa¢tors forthe mental Well. of ow residents during the lo¢kdown. We W[Id like to thtsnk all the artistes who-virtualty- entertained our residents: Steve Hewlett. Elaine D¢lmar. Maurice Kul &eph P, Kevin f• Carol Antt¢ Wells & Del. Steve Goll¢r, Mark Andrew& Sim{ B&shford. Emma Jarn¢& Cassidy CJ. Jans0 Stephen Di¢kirtS0 Mazaika Igor & Sarah. Katie Lewi& Karl Chariry. Jack Foley. Camm Roll& Nick Coow, Jay & Joss Magic. Tom Carr4dine. Miranda Richards, Olivi• Grace Pl. Simeon W(M)d. James HTrJg50n. Bernie Clifton, Ukaye Uke& Mark HemmiTtg4 Steve B8rclay. Bill DaT¢ & KapTr Kay< Shelly Anrtt River4 Andy Ea5ts¥ood, Vivienne Mcmaster. Daniel Dean. Porter. s¢ Whittl4 Katie Milw Kay Carman, Jason Allen. Mickie Driver. Denise Nol4n. Claire Benjamin. In addition, activities included. Iloww #Tran8in& gaieral knowl•lge quiats. movi4 fitness setsions. mails and hand massage4 annchair yog4 bingo group Crossw singin& Interdal)0 p&knal care is in the hands of our Chaplain. the Reverend Canon lio8¢r Royk. Our cltnical. care and athninistralive staff wld¢rtk a wide range of topics from our E-learning programm4 our consultsnt trainer and external sessior covering such diverse topi &$ medication managemen¢. Covid-19. infection control. end of lif¢ car4 food hygiene, mwth c2Y¢ moving and h&ndlin& and record keeping. Our stsff were awarded 279 certificates of proficienry in a variety of care•vel8t¢d iopies through in e-learning and Internal courses provid¢d by our outside training consuhants. Technology was tsk¢n &lv4ntsge of thirtng a thailenging year for our in•house training programme with some sessions held on Zoom. Brinsworth House is a long.st8ftding aThl wected m•nber of the kKal ¢innmunity and is woud of its sifooB ¢onn¢ction to the area aTvJ its firni relationships with the lo¢al Ttrrtary CaTe Tru5L th¢ services and l(Ko1 h0O18 armj colleges. This year. the Charity awartsj pits to individuals totalling £116.933 (2019.. £125.019). In •Jdition to the grants. the Charity ContnUled £214.142 (2019: £203J75) lowards caTe home fee shortfdis for resi&nts at Brinsworth House. The Charity also spent £361.158 on refurbishment and impovttnent cots to Brinsworth Hovse, including a new kitchen and dining ro(Kn. Preliminary professional Work w&5 wried out on the nexl phase of the Tefurbishment PTojeet of Brtn5WOrth House but major onvsitr Works was d¢lay¢d b¢Se of the pandemic. W¢ Jre aimin8 to return to this project in 2021.
Roy•l Variety Charity Trn$te¢' Reyt •d Finaneial Ststement 2020 tODtIDII FundrlslDg and Evellts The Charity's wincipal annua] fundraising event is the Royal Variety Perforn]an¢e, which w&s stsged in 2020 at the Opera Hous¢ in the WinteT Garden& Blackpwl on Sunday 29th November. The ChairmaTJ of the Charity, GiSe5 Coow. worked closely with ITV Studios to Fyoduce this unique event and monaged to GUre a wondwful video m¢55age of Supp to be included in the show from His Royal Highness The Prince of Wale& Giles Cooper was joined in B]ackpool by the Charity's events team and fellow Thtstees Phil Dale and lan Freeman, who managed to secure some wonderful publicity on TV. radio. on•line and in num¢rous n¢wspap¢rs. promoting the work of the Charity. The Charity would like to th•Jk the many Artists who assisied in publi¢ising the Charity's work. particularly on their social channels. The show was host¢d by Mfd and the artist¢5 fratUr IlUded. Gary Barlow OB& Samantha Ba from Frozert th¢ musiral. Stephen Mulhern, cele¢, Jo Caulfield, Sheridan Smith OBE from Cilla the musical, Black Blues Brothetx. Melanie C. Jon Courtney. Mari5ha Wallace. Daliso Clwd4 Step5 and Mithael Ball OBE. Captain Sir Thotnw Moor¢ also made an app¢ardn¢¢ by virtual link. The show w&8 televised in the UK on ITV and ITV HD and attracted htgh rntiftgs. As u$uaL the show w&5 also screened around the Wor including (m Christhi&8 Day in Australi4 New Zeal&nd and Stsuth Afric4. Totsl income gernted from the 2020 Roy81 VaTiety PerfoTm¥nce 4 mwifKnt £5Ctsl.175 from TV incom royalii¢s and brochure &dvertisin& with no ti¢k¢t saks due to the pandemic {2019: £884.812). The Charity would like to put on r¢cord its thanks io Chairnian Giles Cooper for hi5 hord work in not ffily sewing th¢ Bknckpool OFWa House a5 a venue, but also for his ongoing commiEmeni and det¢rniinatiort to stage the show. in som¢ forni, de$pit¢ the numeTOU$ obstscles and dilriculties presented by the Covid global potykmio His oddilional SU¢¢ in gaining & video me55ttg¢ of support from Prin¢e Ch8rl¢s w&8 a firsi in the Charity's history and HRH'S waTm and encouraging WOTd5 will be remembered by the Charity for many yeats to cthne. The Charity receives Toyalties from clips of Royal Variety Perforn)antts 7¢ aye shown on televtsion worldwide during subsequent yeaTS. In 2020, these royaliies amounied io £119.332 (2019.. £27.028). The 14 series of ITV'S 'Britsin's Got Taleni. w&8 trlevised with fift¢th wi¢e fr(n every ielephone vo being donated to the Royal Variety Charity, rdtsing a total of £25.15212019 £67.563). As every year. w¢ are indebted to Simon Cowell and all at Syco Television for their coniinu¢d supw ofour Charity. No other small¢r ffijndraising events were possible duriog 2020 of th¢ pondemic. The Charity also r¢¢eived lega¢i¢s and Ilonations during the year wnouniing w £677.957 (2019.. £512,051). IlThile the annual value of these contnlxrtions is wredicthble. it remairs a help1 s(rtwce of ancillary in¢ome for the Clwity. FIH*nclal Revlew amd Results for the yur The Ststement of Financial Activities (SOFA) is set w of pg¢ I l. The Charity's movement in fimds was £169,688 in 2020 (2019.. £795.550). Th¢ Clwtty's main sowces of incom¢ b¢forr ¢05ts in th¢ ye4r welr: 2020 2019 Royal PerfthThance (incl TV income) 'Britsin's Got Talent. Legacies Donations. appeals and invesknemt income Residential and nursirt8 care fe&$ Grants 26% 2% 13% 7% 52% 25 427 224 .787 2P 1.558 3% £2.999 im% £3Jg0 iooo
Royal Varkty Cbarity Truteu, R¢t nd FID•ndl SttemeDI 2020 Flmanelal M8Dagewbeiit and Rewves Pthy As a matter of l1¢y. the elected TheeS review each yw the value of T¢ser¥es retsined in the forn) of investmenty cash and equiv8l¢nts h¢ld for restrirt purp(w or designated W0j¢$. The ¢leaed TneeS consider the Charity's exp)sure to major risks in temis of th¢ir lik¢ty impact on its income source5 and planned pendItuTe in the short to medium tenn. well as ss¢s5ing the best way to mitigate suth with incorn¢. The jor rtsk ts of 4 de¢lirte in voltsntary incom< particularly the to Y ¢wiomicJ5tock markd downturn and other factor5 leading to both declining legxy values and reduced drnirn5. Th¢ pres1 tsget range for free reseNes is id¢ally £5 million. whÉeh would equate to 24 months co#s. plu5 total ¢xptyditure in to enable us to cope with unforeseeable emerguLcies. General Re5eTve5 aT¢ £3.885.135 at 31° December 202012019 £5296.423). A designated fund of £1.65m has been esthblished followirtg legacy receipts regarded 85 "ring-f¢nce¢f funds ¢0 be used for the refurbishment of Brinsworth How¢. ib¢it not legalty restrictrd reserv Inveytm¢ttt Polky The Trustees act in accordan¢e with th¢ 'TnL#e¢ Act 21X(I' paying particular attenti to 'duty of c4re' irnp)5ed upon trnstees. tnjsttts, powers of investhient and the N)w¢r to 4)p)int nominees and agents. The Trustees note that the Act "sels a new duty of care. iKAh objectiv¢ and 5thndar4 mwiyety exten&8 the m. p)wer of investment and limits the trustees. liability foT th¢ a¢11$ of agenty also providin8 f(f their remUnWati for w(¥k don&" The present investsnent lIcY is to maximise the long-lenn tothl r¢frtrn of the Clwiry's tnvestment fund& subjeci to the risks normalty &$Sltrd with a balanced atvoath to p)rtfolio management subject to an ethical stance that excludes any investment in arnwnents. in view of the severt disabilities so often Ksuhing from their use. Except for the above. the Charity th)es w nstri¢¢ its fiThl rnanag with reguth kn any category ol investrn¢nt. However. it exp¢¢t$ encournges fijnd managers to invest only in that have 4ppropmte 8ovemanc¢ ond S]&1 responsibility p)lici&s. We also exFCt that the xtivitie5 of th¢5¢ aMnpathi¢s will be monitor¢d both ogainst th¢ir own stsndards and )licIeS and also against the Standa of s(KiW in B¢n¢rJl. During the year. SthrodeT & Co Lin)11 (£1245.491) and Smith & William%Jn Investment Mana8ement Limited (£2,(Kb3.047) managed our rtfOlIo. The Charity's Tr¢asur¢r r#eives repxts from the inveslment maS on 4 quart¢rly b&8is to review the investment portfolio and th¢5¢ r¢suhs ar¢ reported io the other Trustee5 and Executive Comrnit¢¢e. The 2020 total r¢alis¢d return was of £104.147 (2019.. £135.079) d UDrealis gain was £91.874 (2019: £280.021). Future plans The Chtirity li evtt committed to improving the clencY of its 4Tation and is ConsntlY Iking into all arw of how its work could be improved. The Charity is committed to helping nKY¢ in nJ and has imwovtsa the efficiw effectiveness of its nationwide grants scheme. allowing moTe appli1 to receiv¢ help in a f&wtime. The Tt¢S are a]$0 committed to imwoving the facilities qUlty of lifr many Tesid¢nts Brit)swonh House and is curmily wrting with architects and advisoT5 as to how better filittes could be implemtni¢d Phase l of the r¢fiJrbi5hment covering the kitchen and dining room ha5 be¢n completed. The next ph&s¢ is due to be und¢rtaku) in 2021 covering the refurbishment of bedroow making th¢m ¢nslli* and instslling a plarfomi Itft. The Charity is also IkItig w se¢ how Ai can widen its kvel of suFf lo all arAs of the ¢ntertaiDment industy for people of ail a8e4 and J Tevi¢w of OUT brn)d and wesence in the industy is currently being discu55ed. Our forward-thinking ¥p[o&h w the Royal Vwiety Perfornww its yowig¢r audi¢nc¢ and the support of all 8¢n¢ra¢ions of the lioyal fgmily, will be encoura8ed and further nurtUTe
ROYAI Variety Charity Trustees, Report nd Flnanelfftl St•temeDt 2020 Future plans {eontiall¢d) Our television tmduction and bn)adc&st contra¢1 with ITV ¢w to ¢nd with the 2020 Royal Variety Perfonnance. We are pleased to rew that a new five-year contrath has been enter into with ITV from 2021 UDtiI 2025. On a side note, Britain's Got TalenL produced by Thames (a division of Fr¢mantle UK) and Sim¢)n Cowell's Syco Entertainmen( continues to return excellent ratings and has extended its contraa with ITV for a fufther five ye4rs until 2024. However, the 2021 (BGT XV) h&$ been postponed fora year due pgnd¢mi¢. As part of the Charity's fundamental straiegy. the Trnstees have reviewed the IxKigets for 2021 and 2022 and are Satisfd that it is appropriate to prepare the fmancial staMts on a'going-¢(xKern' bosis. The Trustees have reviewed the impxl of the Covid 19 vinjs on the operations of th¢ Charity and continu¢ to monitor developments on a daily basis. They believe that any additional costs will t off-sd by th¢ Infeclion Control Fund grant it receives from the local authority. In aldition. plans are bein8 made to hold our main fundrnisin8 evenL the Royal Variety P¢rfoTnwice. towards the end of the year when it is antictpated that such events are Fmitted. The two investment properties were sold durin8 the year rdising £848.516 in cosh. to f Fkn&s¢ l of the refurbishment and provide operating fund& but generatin8 a loss of £26.484. Auditors During the year the Trustees reviewed their audit requirements and decided to rw)p)inted Haysmacintyre LLP as auditors. Approved by the Trn$tets Dd signed M their beh4lf by: In a¢¢ordan¢e with ihe Charity's Ruks & Constitirtion upxjated in January 2016. this Annual Report and Financial Statements for ihe year ¢ndryJ 31 December 2020 15 aFyoved and signed by the senior olTicers. many of the elected Tru$tee5. laurle Manslkld Honorary Life• President & Trus*e Giks Cooper Chairn)an & Trnstee laTr FreemaD Treasurer & Truste¢ Dated: 2d Juty 2021 10
Royl Varlety Charlty Tr•the5' Report aDd Finuc•l Sts¢¢m¢nt 2020 for the r ended 31 Dece Total F4d5 2020 Total Fundj 2019 Note lth¢omt from: Donations and legacies.. Royal Vari¢ty Perfornwice TV fe¢$ (including Britsin's Got Talent) Legacies Donations. appeals and fundraising events Grants Income from inYe51ments Other Income 139J27 390,() 1,803 676,154 108.687 124,325 370 565,363 387,012 427.254 84,797 135,079 4.091 Income from ¢barltsbk etlvltks Resid¢ntial and nursing caTe fees 1.558,677 1.786.691 Toll Income 2,999J43 3J9DJ87 Expthdltsr¢ on Cost of g¢nertln8 fuDdk' Royal Vartety Perforniance Investhient management costs Other fundrdi5ing and publicity 35.104 18252 348,336 289,414 24,594 269.668 Charltsble a¢tivilie Brinsworth House Residential and nursing care Chari¢Jbl¢ aid 2322262 150,913 2.145.727 145.355 Total expendit•re U7U67 2074758 R¢ali5¢d invcstmeiit loss Unr¢ali5¢d irtvestment 8atn (46.662) 91.874 280.021 Net iTrcomel (WApeDditsre) 169.688 79S550 Net movem¢tht In fAds 169.688 795,550 Fwnds brought fornArd as at l 2Q20 10.407.543 9.611,993 Totsl fundj as At 31 De¢¢mber 2020 12 lo77231 All amounts relate to continuing activilies. There were no knTecwised (r losses during the year. The accompanying notrs fonn part of th¢5¢ fmancial #atanents.
Roy41 Varkty Chrity Trukej, Report nd Fin•neial Ststem¢Mt 2020 r 2020 2020 2019 No¢¢ Flxed Assets Tangible assets Intangible assets Investments 5.042.096 5,111,120 3248J38 3,960,106 83,631 9.071226 CUrret Asy¢ts Debtors Cash at bank and in hand 21&740 2228.852 248.738 1.266.925 2.447.5 1.515.663 Cttdftors.. mounts falllng due wlthln one year 10 (160.995) (179.3461 Net Current Asyets lJ36J17 Total A$8tts less Currtut Li•bililies IOJ77331 10,407J43 Funds G¢n¢tal R¢s¢rv¢5 (unr¢5trld) Fixed ASS Fund K¢furbi5hm¢ni Fund 3.885,135 5.042,096 1.650,0 5.296.423 5,111,120 Total Funds IOJ77331 10,4O7A43 The financial statements wetr approved and authoriseil f(Y issu¢ by the Board of TTUS¢S on 2wJ July 2021 and were sign elow on behalf by= é Mnilleld- Ho. Ufe Prtsidettt Glles C Holl. Ch#lmn - Hon. Vlce Chalrman ln Freem* onornry Tr¢asur¢r The accompanying notes form part of these fuwicial statement& 12
Royal Varlety ClJrhy Reprt a•d FlmaDdal Stst¢ment 2020 ber 202 2019 Recoo¢lllalknn of Det ineome to net eash from Operati •¢livitks Net income for the r¢portin8 Depreciation and amortisaiion charges Decrease/(Increas¢) in debtors Increasel(Decreas¢) in credit Intere and divid¢nds (GainsyL05se5 on investhients 169,688 98.537 29.998 {18,351} (124J25) (45212) 795.550 97.608 217,325 13.860 (135.079) (280.021) Cash tlows frorn optratlH8 ¢tivi¢i¢5 IIOJ35 709343 Cash flow4 from ittvatin8 aetfvftles Dividends ¥nd itit¢rest received Purcha of tangible Lssets Withdrawal from investment P01)0 Pur¢hw of invutments Pre¢d$ from sale of investments 124.325 (29,513) (135.079) {414.385) 51Y). (672.106) 578,751 (422,101) 1.178,881 Net esh provlded byKused) iw inv¢s¢6•g •¢¢fvthi 851,592 (142119) Ch4TJge in ¢a5h gnd ¢&sh elwivalents in the re&ing C&8h gttd ¢&sh equivalents at the iyiming of the rewknitig lOd 961.927 1266.925 836.582 430,343 athd #b equlvaknts at t&t ell of the reportltyl 222&852 1266,925 Notes to tht Cshllow St¢em¢•l 2020 2019 AD¥lysi5 of c$b nd eok equAvleDts Cash ot bank and in h8nd 130fj925 Analysts of Met debt A¥•tl" J•ttury 2020 Cash flow As•t31 December 2020 C at bank and in hand 852 13
Royal yr Charity Trvste¢g' Report a4d Fimancial Statement 2020 ts for tbe ear en ed 31" Aeeountlng Polkles Aecounting COnV¢DtIoD The financial statements have been peped in a¢¢Orth with Accounting and Rwrting by Charitie5: Statement of Recommended Practice 4yplithl¢ io ¢harities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in th¢ UK and Republic of Ireland (FRS 102)- (Charities SORP - FRS 102 second edition. effeciive 1° Januay 2019A JDd th¢ Fitwicial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity rneets the defmition of a public btth¢frt entity utthr FRS 102. Assets and liabilities iniiially recognised at historical cost or transaction valu¢ unl5 (rtIKrwi5e ststed in the relevant accounting poli¢y te(5). b) Fixed knets Fixed assets 8Te Tecorded at cos( excqx for freehold pr(4)ttty. Amounts iDCUTred on capital items over £l.000 are witalised. The Charity has revalued the freehold land and buildings and th¢ rV4alUIons have been included in the accounts. Depreciation is calculated io write off the cost of all tangible fixed asse other than freehold land. which is not deFYeCiate in equal insk]m¢nts over their ]Mated u%ful lives using the following FAimated Us¢fiJl Life Buildings Furniture. FixtUTes and EqUIen[ Computers and Office Equipment TrademaTks and Patents 50 years 10 year5 3 years 5 year5 rewurce5 F¢¢ and ticket Sales income is recognised whu) receivable. Donkons aT¢ rEClSed in the year when they are received. Le8acie5 are recognised at the point when ¢ntitlpJnenl and arnount are c(mfinned. Gran where entitlement 15 not conditional on the delivay of a specific wfornianL% by the Charity. are re¢ognised when the Charity becomes unconditionally u)tiiled to th¢ gtant. d) Expenditure and its basis of l]otxtlDD All expenditure is dealt with on the accruds b&%is and includes value added tsx where appT(Vriate. Charitable expendittwe comprises those costs Incued by the Charity in the delivery of its 4CtiVili¢s and services. It includes direct costs of activities and those costs of an indireth natttre necessary to support those activili¢s, 8lloc&ed between eXPdItUre categories on an ar4Jwi b&41$ as s# (xrt in note 5. Governance costs aye those costs aswciatrd with merftng th¢ ¢ThWiton01 and statutory requiTements of the Charity and include the audÈt fees and costs linked io th¢ stratrgi¢ management of the Charity. FuDd accoulltlRg The unrestricted are fe and Oth inc¢Nn¢ receiw4)k or guerated for the obj#iives of the Charity without furtherspecified pllr[ and are available as go1 fijnds. Ther¢ were no Te5tricted funds (2019- nil) Designd funds are funds set &side by the misw (All of utirestr gthernl fiu¥ls for specific luTe pwp05es or wojects. 14
Roy81 Vrkty Cbarfty Trwste¢s' Reprt Md TrThm•nci•l SttthM¢ 2020 Notes to the Flo•nel•l StstemeDts for tke Ae¢oD•lADg Polleles (eoH¢i••ed) T•x•tlon All inwm¢ and gains are exemm from taxati( and have been or will be 3pplied for the ¢harit•ble purposes. Irre¢overable VAT is attril)ud io the relevant cg(ry or wiital expdItUr¢ as 8lJPTlVHte. Golg eoneern The accounts hav¢ i*en pyyred on the assumpti the Charity is able to ¢w on tts activities as a going concern. In &w&stng the Charity's ability to coniinue as a going ¢OrKe th¢ Thtstees have considered the Charity's liquidty Positi and mi¢wed c&sh flow forecasts for th¢ foreseeable future. In additiijn to its cash reservA li h&8 an inve5tmfflJt wifolTO to draw up)n with no ext¢rnal debt or security. FOT ihis rewn, the TTuslee$ ¢orttinue to adopt the going ¢oncern b&%is in prepaTing th¢ fin181 ststements. i) Lead assets alld obliytlons All le aT¢ Ing Leas¢s- and the annu81 rettthl$ aye charg1 to the statemen¢ of fin¥111 activities a straighi-line IASiS over the lease terni. 5) FlJ¢d asset l#ves¢Nbents Investments have been valued at the bid pri 18 31# Decembv 2020. Investment prOprtic5 are stai¢d at their market value 8t the FAlarttt shed date in orate with the SORP. Any sutplus or deficit arising on valuation is tak¢n directly the fimd as an Un[11S¢d 8gin or lo&s. No (kpreciation is ¢hwEed on investment PeMlo• g¢leme Costs are aSlated with the defjned cltril1 atMImertt pension scheme and ¢harges against the otmting surplus 4re the Contributi( payabk to the scheme in Tespe¢t of the a¢cowiiing ststement of¢asb nows The ChArity'S ¢gsh Ilow statem1 reflts the Nesentation requirements of FRS 102. which is diffeTent io thai prepared under FRS l. In athlition. the cash flow slalwn¢ rtCQDciies cash and cash equIv¢ts whereas under previous UK GAAP the statrment reconcikd to c. h) D¢btors Debtors and th debtW5 ar¢ r¢¢ognised w th¢ settlement due after any discount offered Prepyments are valued the amount pryid n¢t of any disc(Kmts du¢. i) Credltor8 proviw Creditots artd wovisions aye recogniy¢d whexe the Chty IM5 a prnt obligation resulting frn a past event that will wibably resuh in the trw$f¢rof fimds to a thiTd pty and th¢ amount due to settle the obligation ¢an be me&8ured or estimated Teliably. Creditors and provisions art nornialty Yecognised at their settlement amount after ollowing f any discounts due. J) Gr•&ts Grants are recogni5¢d a r¢celS basi 15
Royal Variety Charlty Trosttts. Report fin•nell Stteth¢Trt 2020 Fln#¢ial lernents for the er ed mber 21no eontlnued FIXED ASSETS INVLME1¥rS 2020 2019 L45t¢d luve5tments Markd Value as at l January 2020 Add.. dItion to investtnents at cost Iner¢&5¢d retained cash Less.. disp05als L¢ss: withdrawal L¢ss: net loss realised Add net gains on Tevaluations 3.085,106 367.101 55,000 (330J65) (578,751) {500,000) 3211,730 672.106 (20,178) 91,874 280,tr21 Market V•lve at 31° Deeembtr 2020 3248J38 3,08S106 There wue no individual listed inv¢sthients in excess of 5Y• of the iotsl rM)rtfolio volue. 2020 2019 b) Investment Income Dividend income (hheT Trntere5t receivable Propety investmeni in¢ome 109.922 14.403 117.949 2.506 14,624 124J25 13S079 Invutment pnyerty 2020 2019 Market vl4¢ brought fornrd As at l January 2020 Less.. disposal proceeds Less.. lo&$ on disp)s&l Market value urrial fornrd As at 31 D¢¢ember 2020 875,Ocl (848.516) (26.484) 875,000 5,000 Summary of iThve5tmeTrts Listed and non listed investments Invesknent property 3.24&538 3.085.106 875.000 3,24W 396W106 Investment properties that are not used in the Charity's primary r¢sid¢ntial care activitiK are let out in the open markei. The properties were revalued ty Shaw & Co Charred Surveyors on 27 F¢bruary 2018 * £875.000 repTesenting open mark¢t value. They were both di5P05ed of in the year. 16
Royl Varxty Cknrlty TrMtets' R¢port Dd ThAaDcinl Ststetyent 2020 Flnanclal S¢• for the l• Detember 21120 DONATION& APPEAIS AND FUNDRAtSING EVEIYTS 2020 Totsl 2019 Total Donations Other FuThlrnisin8 events 676.154 83.996 801 67&154 797 Grnts 2020 Total 2019 Total Infection C(mtrol Fund Job Retention Scheme 79.413 29274 10&6S7 5 (a) TOTAL EXP&NDITURE 202 Houst Cost of G¢n¢rAtI•R •wd Bursinz Cklritabk Gover••nte Futtdi Spport Costs Totsl 20 Staff 8nd Telawj costs Caterin8 Laundry. cEeaning omd medicol Repairs and Majnien¢¢ U¢ililJ"¢4 rat¢% and inwjrance Other runThiftg costs G¢nernl office exrKnses P¥blicity and marketing Royal Variety Performan Other ev¢llt ¢osts Printin& p)st8g¢ &MI stati rr and equipsn¢nt Audit Lwl and professional Depr¢¢i*ton Bank ¢har8e5 Pcnsionsand InvesttD¢nt Prrycty cxpcnsc5 1.580.658 I 19.051 194.731 47216 27J55 111835 1,785.830 119.051 194.731 47,216 84.919 102,165 24.891 l63.S38 35,104 2.339 13,267 24.4(rf> 16.8 16.983 98,537 3.946 11(933 J.877 18.252 14.953 535 101.630 425 17 163.538 35.lim 1339 13267 24.466 IA985 97.818 719 11(933 5.877 18352 U11•70 Iwij IS&599 4167 Support¢ost GovemanEe¢o 94 16.892 94299 1&893 {188,5991 133.785) Totsl Costs 401ffjrA U22362 19).913 2174167 17
Roy•l Virlety Cbarlty Trnstw. Reprt •1 Fin¢1•1 Stwtement 2020 to th tem for tbt r ended 31" Deeember 2020 eontltt S Ibl TOTAL EXPENDITURE 2019 House of rtsidtnti•l GeDer•tiuz nursing Chr•tsbk GovtrnAII¢¢ Funds Ai Cts Support 2019 Staff and retst ¢os Caterin8 Lftdry, cleJthg and medical Repair5 and mainietn¢e Utilities rates and insufanct Othernlnning ¢osts General offi¢e expenses Publicity and markeun8 Royal Variety P¢rfomntKe Other evenl co Printin& p05t4e and #*ioJ IT and equipment Audit atMI OTrneY Le8al professional DepTeci&iion Bank charges Pensions and 8rants Investhient Property exper Inveslm¢ni man4¢m¢nl ¢osts 923 1.399.099 125.234 ii&m 20.336 108.819 .591,177 125,234 118,973 70.807 171.837 22.5(M) 4.410 20.535 93.307 176,247 31,248 54.702 289,414 7,356 9,756 22.462 1721N) 4,842 10,693 54,702 289,414 7.356 9.756 22.462 172 4.842 8&425 719 l.521 1.521 125.019 19.138 24.594 125,019 19,138 24,594 Direct costs 477384 U39J35 14SJSS 1911.742 U7{758 Surwrt cost Governance cosl 95,371 11,021 95J71 (IL742) (210421 Totsl C•sts 581676 114Sn7 2J74.758 STAFF COSTS 2019 Wages and salarie5 So¢ial S¢¢urity C051S Pensions Agency and contract staff 1,515,209 143,978 34,354 92.309 1257.654 114.764 26.490 192269 1.78S850 1,591.J77 The charity had one employee earning £60,(X)O or more during th¢ yw (2019.. 1}. The total cost for ¢)ur four Key Mana8¢meni during the year was £256,564 (2019: £225.999). 2020 2019 The avetage weekly number of employees &Mtysed by fimc¢7on was: Brinsworth House re5iderttial and rtW5ing Fundraising and publicity Support stsff 53 51 58 56 The Charity had siirwl fmm two volunte¢rs in th¢ year (2019: ten). 18
Royal Variety Cknrlty Trwtw, Reprt Ststement 2020 FA•allcial St•temtats tor 311L Dtceaber 2 ntln¥ed TRuEEs No emolwnmts were paid to the T<5 during the year (2019.. £nil). Fpu¢S of £534 weTe pxid to four Truses during the year(201g. Four Tnses £1.434). TANGIBLE FIXED AETs Computer5 A&d omce EqulpmeDI Flxlures & Buildiu85 Totsl Cost As at I J4nu¥ry 2020 AddiliM$ 5555.702 17.033 177.441 12.480 42J04 5.775.447 29.513 A$ at 31st Deeernber 2020 S571735 189.921 42J04 5WI960 DepretlatiOR As at 1st January 2020 Charge for year 47&316 9).394 547J46 6.424 41.465 719 665,327 97.537 As at 31st D¢rtmb¢r 2020 56&710 153.970 42,184 762064 Net Book Vllle As 4¢ 31$t Deeetnber 2020 3S951 120 5,0411)96 A$ at 31st De¢ember 2019 29W5 The tru¢¢$ made the decision to revalue the in 2014. The effe1v¢ dwe of the valuation wa5 4th December 2014 it was recOlSed in th¢ fmoncial siatements end 311t D¢c¢mttt 2014. The valuations were performed by Shaw and Cornpany (Surv¢ym) Lxmited. The valuation was mad¢ in accordance with the Prnalce Statements of the RICS. Appraisal and Valuation Manual. They were caTried out by an external vajuer who ¢onfornis to the Tequirements of these Ptadi¢e Suements. The valuation$ wer¢ based existing use vah of Brinsworth House at the valu&tion d. The hiqtyrid costcanying Wld be £1.107J87. INTANGIBLE FIXED ETs TTadetyarks •nd pateDIs Cogt As #t 1st January 2020 Additions 50,453 t 31$¢ Deeember 21120 453 D¢prttlAtIoD As at 1st January 2020 Charge for year 50.453 As t 31st Decemb¢r2020 SiIA53 Net Boolt V•lue As #t 3151 D¢r¢•ber 21llO A5 at 315¢ Dccember 2019 19
Royal Vrkty Cbrity Trusttts. Reyt •Dd FlTrnel81 StsteMh¢nt 2020 Note5 to tbe FlnDell ents for th elr ended 020 eontinued DEBTORS 2020 2019 Residents & other fees 175,230 29.892 13.618 166.970 26,650 55,118 Other debtors 21&740 24&738 io. CREDrroRS: flllD% d•e within one year 2020 2019 Trade Cr¢diiors Other taxes and s18] srfurity costs Accrna]s and d¢f¢rred ine Other ¢redilor5 46.086 46.123 63.9 4.286 68.204 27.244 79,315 4,583 16099S 179J46 11. (8) FUND BALANCES 2020 l JaDw•ry 2020 31 Detember 2020 Ineome Expendlture Tr•i$fer8 Unr¢$trieted funds General reserve5 Desigllgted fundi Fixed &55¢t fimd Refiwbi5hnKnt fiu 5296,423 1999.343 (2.731.118) (1.679,513) 3,885.135 5.111.120 (98.537) 29.513 1,650.(MKI 5.042.096 1.650,000 Total unrestrlcted fts#ds 10,407J13 1999J43 (1829,655) IOJ77331 I l. {b) FUND BALANCLS 2019 Janury 2019 31 Dettmber 2019 1o¢ome Eipend[tre Tranjfers Unrestr&etsd fuds GeneTal res¢rve$ Designated Fix¢d fund 4.82&114 3J90287 (2.505.593) (414J85) 5,296,423 4.785.879 {89.144) 414J85 5.111.120 Total unrestrieted funds 9,611,993 3Jg)387 (15¥737) IOA07¥3 20
RDyI Varl¢ty Clarlty Truthe5' R¢port nd FiDaKhvI Sltwnut 2020 tsternents for r ended 311t 12. (a)ANALYSIS OF NET A&SETS BETWEEN llJNDS 2020 UMrestricte41 D¢51ga•led Fuods FIDds Totsl Fund balances u at 31 December 2020 ¢ represenied by: Fixed osseis Intangible assets Investments Cuffent assets Current liabilities 5.041096 5.042.1)96 3248.538 797J92 (160.995) 3248,538 1447,592 (160.995) 1,650.(KKI Totsl ¢¢ wets 3WS133 W4096 IOJ77231 IL (b)ANALYSIS OF ASSETS BETWEEN FUNDS 2019 Unrestrkted DtsigDxted Fthttds Futtds Tol41 Fund balan¢¢s at 31 D¢¢¢mb¢r 2019 are represented by: Fixed assets Ingible assrts Investments Current assets Cwr¢Dt liabilities 5.111.120 3.111,120 3.960,106 1.515.663 (179.346) 3.960,1(k5 .515.663 (179.346) Totsl net s34L7 &111,120 lo,41073 13. OPERATING LEASLS 2020 2019 Payabk.. Within I Payable.. 2- 5 years 44,457 181.364 53.457 225.821 225021 279278 The operniiD8 leases Ttlate io tots] costs of land IlId aThl equi RELATED PARTIFS The Charity has considered the discknure Tequirements of the SORP (FRS102) and believes that the following 'relat¢d pw transactions.. which were made at an 'gm's Isth. basi4 requires disclosure: During the year the Ch8rity 4ed the servi¢es of Soho Post PrLmlU LimiteiL a c4)mFY ownpA by Mr Giles Coop¢r. at a total C4 of £18,41Y) plus vaL The company carried 'donated' nwketing s¢rYices ftjr the Charity's annual fvndraising evenL the Royal Varw Perforniance and the aft-shoW party and includes the Costs of placing adv¢rtisements in national newspyr& the design and woduction of the thow's brochure and wo¢iated marketing merials throughout the yw. The services are T¢4haTged at C4)5L NB. The design services ar¢ put out to tender every five years. The balance outstanding at 31" December 2020 NIL During the y¢ar Mr Gile5 Cow also thJnat¢d hi$ wtrfessional time for viSOry servic¢5 related to fundrntsing and governance. The value of these donaial services Rs calculated at £.( (2019 £85.IKJO). There were no other related party irnn$a¢tiLS requiring dIlOsUre in the year. 21
Royal VrKty Charity TTUrte¢s' Report •Dd St•¢emeTrt 2020 INDEPENDENT AUDITORS. REIIORT TO THE MEMBERS OF THE ROYAL VAIUETY CHARITY OplTrlo We have audited the rm¢781 sweTD¢nts of the Roy81 Variety Charity for the year ¢nded 31 1)e¢ember 2020 which comprise the Siatemeni of Financial Activities. Balanc¢ Sheet and Cash Flow stsiement and notes to the fjnancial statements, including a 5tsmmary of significant acwjnting polictes. The fmancial rewjrting framework that h&5 been applied in their preparnion is applicable law ond Uniied Kingdom AoUntIng Standards, including Financial Reporting Standard 102 The Finoncial Reporling Standard appli&7ble ihe UK and Repbl of Ireland (United Kingthm Generally Accepted Accounting Practice). In our opinion, the rMwlat statements: give a true and fair view of the state of the thwity'5 atTaiT5 a5 at 31 Dember 2020 and of the charity's net movement in funds for the year then ended. have been properly Prepared in accordance with Unitrd Kingdom Generally Acwed ALxouniing Pra¢¢i¢e' and have been PT¢par1 in accordanc¢ with the requirements of Ihe ChItIeS Au 2011. B8818 for oplDio We have been app)iTrted as auditor under section 144 of the Ch&riiies Act 2011 and rerrf in Tdance with the Act and relevant r¢gul#¢ions made OT having effect thereunder. We conducted our audi¢ in cordanc¢ with International Standards on Auditing (UK) OSA5 (UK)) and applicable law. Our respons1 iliiies under those standards are further described in the Auditor's SpOnsibl11t1es for the audit of the financial ststements sectton of our report. W¢ are independent of the charity in accordan¢e with the ethi1 requirements that are relevant io our audit of the financial siatemenis in the UK. including the FRC'$ Ethical Stsndrf and we have fulfilled our other ethical resp)nsibilities in accordance with these requiremMts. We believe that the audit eVidCe we have obtsined is sufficiettt and gppropTia io provid¢ a basis for our (4)iniort. Con¢luslDnS reltlo8 to going eoReern In auditing the financial ststements, we have con¢luded th¥ the trle¢S. use of the going concern basis of accounting in the preparation of the financial $w¢m¢S 1$ 4pprowi8t Ba%d on the work we have perfornied. we have ideniified any material untAlntles relating to events or conditions that, individually or llectiVely. may c&8t Significant doubt on the ¢harity'5 ability continue as a going concern for a peri¢xl of at least twelve months from when the fman¢ial $tst¢m¢nts aT¢ 4uth0ri5ed for issue. Our responsibilities and the responsibiliti&q of the trustees with re5m to going concern are described in th¢ r¢levgnt Sections of this reF Oth¢r information The tru5te¢s are responsible for the other inf(Ml[. The other infoTmtion comprises the infonnation included in the Tru5te¢s' Annual Report. Our opinion on ihe fmancial sents does no¢ ¢ov¢r the oth¢r infoTmation and except to the extent otheTWiS¢ ¢xpIicTt]y 5tat¢d in our reirt we do not any f((m of ¢on¢lusion ther¢on. In connection with our audit of the fjnancial staternen r¢spon$il)ility is io read the other inforntIon an(L in doing so, consider whether the other inforniation is malalIY in¢onsist¢nt with the fmancial statements or our knowledge obtatn¢d in the audil or otherwise appears to be materially mtsststrd. If w¢ id¢ntify surh Tnat¢rial inwnsistencie5 or apparent rnaterial misstatementy we are required w deterniine wh¢th¢r th¢rt is a mat¢riJl mi5sl*¢m¢nt in the financial $ta¢¢ments or a matetial misstatement of the other infomtIOn. If. based on the hav¢ EKrfomiwl w¢ con¢lud¢ that there is a material mis51atement of this other inforniation, we are requir¢d to rwrt that fa¢t. We have nothing 10 report in this regar
Roy•l Variety Cbrlty Trwlw, Repbrt md FtnaD¢iAI St•temen¢ 2020 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ROYAL VARIETY CHARITY Matters on whkh we r¢ reqmlred to re1 by excepth• We have nothing to ryrt in resFtrt of the folk)wing matt¢rs in relati to which the ChJrili¢s (A¢wints and Reports} Regulation5 2008 requir¢ us to report to you if. in wrwini(m: adequate a¢nting re¢tyds ve not been kqrt by the thwity" or $utTicient accounting rewrds h been kq)i or the charity financial slatem¢n¢s ar¢ not in a8¢ment with the awwDting re and Tr$. LY we hav¢ rec¢ived all the infonnation and expknpat1S we require for audit. R¢yfvn$lbllities of trustees Cor ¢be fthAdl thteme•ts As explained mor¢ lty in the Inee5, re4sibIlI1]eS swement set out oft page 4 the tNstee$ 8re Ytswnsible for the prepardtion of the KIal ststements and for being satisfied that thry give a tn and fair view. and for such iniernal control as the trustees detennine is n¢ce&wy to enjble the iryarTh of fmanri41 statemthts that are free from material mi5sthi¢m¢nL whether to fraud or ¢rror. In preparing th¢ fm¥n¢aal sMernen the trustee5 are re¥th5ibk for sSing the charity's ability io ¢ontinue as a going concern, di5cE05in& applicable. matters related to going concern and using the going con¢¢rn b8si$ of aon11ng unless the truslees ¢ither intend to liquidate the charity or to ¢¢e operation4 have no realistic ahemative bui to do so. Auditor' respoDslbllities for the ••di¢ ofthe fiA&dl Jtsteme•ts material mi55tal¢rnenL whether due to ftaud (Y eThor. and to issu¢ an auditor's ryort that include5 our opinion. R¢asonable as5uron¢¢ is a high level of it is not a guaranitt an audit conducted in accord with ISAS (UK) will #lways detect a material mi551atement wh¢n it ¢xists. Missiatements can aris¢ from fraud or error and are considerd material if. individualty OT in th¢ 08gTegate. they could Te4nablY be ¢xpted to influence the economic decisions of users tsken th¢ b&sis of th¢se fmancial statements. Irre8ularities, in¢luding frau4 are instances of n-cOmplI40 with laws and re8ulation& We desi procedure$ in line with our r¢sw•nsibilities, outlined abov4 to det¢d m*erial mi&statements in respect of iryegularitie& in¢luding frdud. The extent to which ourwocedure5 are •k of ¢Jete¢ting iwlar&ties. including fraud Is dEtailed below: Based on our understanding of th¢ Charity and the environment in whith li operntffj w¢ id¢ntified that the wincipal risks of non4ompliance with law5 and ttgulotions related to the Care stsftd4 A¢t 2¢ and the Care Quality Commission {CQC) {Registra¢ion) Regulations 2(MJ9. and we con3id¢r¢d the extthi to which non-compliance might have 8 malerial effect on the finw)¢ial statemenL& We also considered those laws and regulation5 that have a dir¢rt Impa on the preparation of the fJn8n¢ial statunents such &% the Charities Aa 2011. We evaluated management'5 in¢eniiv¢s and op1UnItIes foT fraudulenl manipulation of the financial statemen including the risk of ovenide of Controls. Audit prOcedW pufonId by th¢ gagement team include4J.. D[U$5101)S with management includiTrg consid¢ratim of kTh)wn or suspected instanc¢5 of noTh-¢ompliaK¢ with laws and r¢guTrati(K)s and Reviewing th¢ witrols and proth of the Chwity to ensure these wcte in place through(xrt the year. including during the Covt&19 remote WOTkiAg pttiod. Evalualing mma8ement's controls designed ¢0 and detect irre8ularities; Reviewing and i¢stingiourDai entries made in the y. twticularty those made as part of the year end financial reporting pro$. and Challenging assummions and judgements made by mana8¢rn¢ni in their LYitKal arxounting estimate&
Royal Vrkty Charrty Trustees, Reprt nd FinDell Sttemtnl 2020 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OFTHE ROYAL VARIETY CHARITY A further description of our responsibilities for th¢ audit of the rmo]al sements 15 located on the Financial Reportitig Coun¢il's w¢bsit¢ aL w}ww.fr¢.org.yVaudiiiKsr¢swil1II&. This deIptIOn foTms part of our audilor'5 reporL Us¢ of our r¢port This report is made solely to the charity's trustee& as a bc, in accordan¢e with section 144 of the Charities Act 2011 and regulations made under section 154 of ACL Our audil work und¢rtaken $0 we might to the charity's trustees those matters we are required to ts) them iti art Auditovs T¢WI W)d for no oth¢r PUTpose. To the fullest extent pennitted by law. we do not accept or &8sume respons1 Élity to yon¢ oth¢r than the ¢harity'5 trustees as a body for our audit work. for this reim or forth¢ opinio5 we have form¢ Haysmacintyre LLP stswiory Auditi)rs Dated.. 26 July 2021 10 Queen Street Place London EC4R IAG 24