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2021-12-31-accounts

Unrestricted Restricted Total Unrestricted Restricted Total
Notes funds funds 2021 funds funds 2020
Income and expenditure
Income from:
Donations
and legacies
Donations,
including		 tax credits 902,511 1,454,444 2,356,955 771,227 2,005,617 2,776,844
Legacies and bequests 59,163 59,163 332,874 15,000 347,874
Donated goods and services 234,098 234,098 54,721 54,721
Other trading
activities
Turnover oftrading subsidiary 945,531 945,531 182,974 203,369 386,343
Investments
Rental income 92,065 92,065 101,916 101,916
Investment
income and bank interest		 3 3 108 108
Total 1,999,273 1,688,542 3,687,815 1,389,099 2,278,707 3,667,806
5 Expenditure
on:
5 Raising funds 1,347,850 118,707 1,466,557 1,033,148 452,304 1,485,452
1,347,850 118,707 1,466,557 1,033,148 452,304 1,485,452
Charitable
activities
Sunshine
Coaches		 3,045 1,340,408 1,343,453 25,158 1,483,976 1,509,134
Wheelchairs 122,584 152,356 274,940 89,765 103,393 193,158
Grants 171,685 126,144 297,829 108,545 387,034 495,579
Vanety Great Days Out 21,925 254,720 276,645 54,961 85,360 140,321
319,239 1,873,628 2,192,867 278,429 2,059,763 2,338,192
Total 1,667,089 1,992,335 3,659,424 1,311,577 2,512,067 3,823,644
Net income/ (expenditure) before gain/(loss) on 332,184 (303,793) 28,391 77,522 (233,360) (155,838)
investments
9 Net gain/ (loss) on investments 65,000 65,000 (115,000) (115,000)
Net income/ (expenditure) and net movement in funds 397,184 (303,793) 93,391 (37,478) (233,360) (270,838)
Reconciliation
offunds
Total funds brought
forward		 2,750,704 946,052 3,696,756 2,788,182 1,179,412 3,967,594
14 Total funds carried forward 3,147,888 642,259 3,790,147 2,750,704 946,052 3,696,756
Notes Notes 2021 2020
Fixed assets
8 Tangible assets 1,651,808 1,681,992
9 Investments 1,685,000 1,620,000
3,336,808 3,301,992
Current assets
10 Debtors 383,459 408,236
Cash at bank and in hand 2,024,573 1,721,135
2,408,032 2,129,371
11 Creditors: amounts falling due within one year 556,010 581,028
Net current assets 1,852,022 1,548,343
Total assets less current liabilities 5,188,830 4,850,335
12 Creditors: amounts falling due after more than one year 1,398,683 1,153,579
Total net assets 3,790,147 3,696,756
The funds ofthe group:
13 Restncted
funds		 642,259 946,052
13 Unrestricted funds 3,147,888 2,750,704
Total group funds 3,790,147 3,696,756
Notes Notes 2021 2020
Fixed assets
8 Tangible assets 1,651,808 1,681,992
9 Investments 1,685,100 1,620,100
3,336,908 3,302,092
Current assets
10 Debtors 1,189,787 841,460
Cash at bank and in hand 1,127,860 1,110,134
2,317,647 1,951,594
11 Creditors: amounts falling due within one year 465,725 403,351
Net current assets 1,851,922 1,548,243
Total assets less current liabilities 5,188,830 4,850,335
12 Creditors: amounts falling due after more than one year 1,398,683 1,153,579
Total net assets 3,790,147 3,696,756
The funds ofthe charity:
13 Restncted
funds		 642,259 946,052
13 Unrestricted funds 3,147,888 2,750,704
Total charity funds 3,790,147 3,696,756
Analysis ofchanges in net debt
2021
At start ofyear
f		 Cash-flows
f		 Transfers
f		 At end ofyear
f
Cash 1,721,135 303,438 2,024,573
Loans falling due within one year (70,785) 70,785 (98,361) (98,361)
Loans falling due after more than one year (1,153,579) (343,465) 98,361 (1,398,683)
Total 496,771 30,758 527,529
2020
At start ofyear
f		 Cash-flows
f		 Transfers
f		 At end ofyear
f
Cash 1,710,958 10,177 1,721,135
Loans falling due within one year (43,347) 18,347 (45,785) (70,785)
Loans falling due after more than one year (974,364) (225,000) 45,785 (1,153,579)
Total 693,247 (196,476) 496,771
1 Accounting
Policies
1.1 The financial
statements
have been prepared
under the historical cost convention,
subject to the		 revaluation
offreehold and investment
property. The financial statements
are prepared
in compliance
with the Companies
Act 2006, the		 Charities Act 2011,the Charities
Statement
ofRecommended
Practice (FRS 102),the Charities Accounts (Scotland) Regulations		 2006 and Charities and Trustee
Investment
(Scotland) Act 2005, and FRS 102The Financial
Reporting
Standard
applicable
in the UK and Republic
Ireland.
Variety, the Children's
Charity (Variety) is a charitable
company
limited
by guarantee
incorporated		 in England
and Wales, registered
address Variety House, 93 Bayham Street, London
NW1 OAG.
Variety meets the definition
ofa public benefit entity under FRS102.Monetary amounts
are presented
in pound sterling as that is the
functional
currency ofthe Charity. Figures are rounded
to the nearest f.
The Trustees have considered
the level offunds held and the expected cashflows and income and expenditure
for the foreseeable		 future,
being a period ofat least a year from the date the accounts are signed. The Trustees have a reasonable
expectation
that the
charity
will be able to continue
in business
and meet its liabilities as they fall due. The accounts have therefore
been prepared
on a going concern basis.
The following
principal
accounting
policies have been applied.
1.2 Income and expenditure
All incoming
resources,
including
legacies and governments
grants, are recognised as income when Variety is entitled to the income,
that
it is probable the income
will be received and the amount can be measured
reliably.
Expenditure
is included
on an accruals basis and includes irrecoverable
VAT. Liabilities are recognised as expenditure
as soon as
there is a legal or constructive
obligation
committing
the Charity to that expenditure,
it is probable		 that settlement
will be required
and the amount ofthe obligation
can be measured
reliably.
Grants payable are charged
in the year where the offer is conveyed
to the recipient except in those cases where the offer is
conditional,
such grants
being recognised as expenditure
when the conditions are no longer seen		 to be within the control ofthe
Trustees. Grants offered subject to conditions
which have not been met at the year end are noted		 as a commitment,
but not
accrued as expenditure.
1.3 Donated goods and services are included
in the financial statements
at a valuation
which isan estimate ofthe market value ofthe
services provided,
where such a cost is quantifiable
and measurable.
In accordance
with the Charities SORP (FRS 102),the general volunteer
time ofthe committee
members
and other volunteers
is not recognised.
However, the Trustees'
annual
report provides
more information
about their contribution.
1.4 Expenditure
on raising funds are those costs which are incurred
in attracting
voluntary
income, and those incurred
in trading
activities that raise funds.
1.5 Charitable
activities include grants and donations
applied for the purchase
ofSunshine Coaches		 and electric wheelchairs,
grants for the benefit of individuals,
hospitals
and other organisations
to help sick and disabled
children. These include both
the direct costs and support costs relating to the various activities.
1.6 Support costs relate to costs ofcentral activities. These are allocated to activities
in proportion
to		 staff time on the relevant
activity.
1.7 Governance
costs, which are included
in support costs include those incurred
in the governance		 ofthe Charity and its assets
and are primarily
associated
with constitutional
and statutory
requirements.
1.8 Basis ofconsolidation
The consolidated
accounts incorporate
the financial statements
ofVariety, the Children's
Charity		 (Variety) and its subsidiary
undertaking,
Variety Events Limited (Events), consolidated
on a line by line basis.
1.9 Restricted funds
Where a donor has specified a particular
purpose
for a donation,
all transactions
have been reflected within restricted funds.
Movements
in these funds are detailed
in note 14to the financial statements.

1.10 Depreciation Depreciation
Variety took the option under FRS 102to treat the previous
valuation
ofthe freehold
land and property as deemed cost. Other tangible
assets are carried at historical cost. Depreciation
is provided
to write offthe cost, less estimated
residual
values, ofall fixed		 assets
over their expected
useful lives.
It is calculated
on the original cost (orvaluation)
ofthe assets at the following rates:
Office equipment
20%to 33%per annum
Freehold
building
2% per annum
There is no set limit below which fixed assets are not capitalised.
1.11 Pension costs
Contributions
to Variety's
money purchase
group personal
pension
plan are charged to the Statement ofFinancial
Activities
in the accounting
period
in which they are payable.
1.12 Investment
property
Investment
property,
which
is property
held to earn rent and/or for capital appreciation,
is initially recognised
at deemed cost,
which includes the purchase cost and any directly atlributable
expenditure.
Subsequently
it is measured
at fair value at the
reporting
end date. The surplus
or deficit on revaluation
is recognisd
in the Statement ofFinancial Activities.
1.13 Financial
instruments
Variety only has financial
instruments
and financial
liabilities ofa kind that qualify as basic financial
instruments.
Basic
financial
instruments,
including
trade and other debtors, and cash and bank balances, are initially recognised
at the transaction
price. Such assets are subsequently
carried at amortised
cost using the effective interest method, less impairment.
Financial assets are derecognised
when (a)the contractual
rights to the cash flows from the asset expire or are settled,
or (b) substantially
all the risks and rewards ofthe ownership
ofthe asset are transferred
to another
party.
Basic financial
liabilities,
including
trade and other creditors, and loans from third parties are initially recognised
at the
transaction
price. Trade creditors are obligations
to pay forgoods and services that have been acquired
in the ordinary
course ofbusiness
from suppliers.
Trade creditors are initially recognised at the transaction
price and are subsequently
carried at amortised
cost using the effective interest method.
Debt instruments
include bank loans and mortgages. These are subsequently
carried at amortised cost using the effective
interest method.
1.14 Critical accounting
judgements
and key sources ofestimation
uncertainty
In the application
ofthe Charity's
accounting
policies, the Trustees are required
to make judgements,
estimates and
assumptions
about the carrying
amount ofassets and liabilities that are not readily apparent
from other sources.
The estimates
and associated
assumptions
are based on historical experience and other factors that are considered
to be relevant.
Actual results
may differ from these estimates.
The estimates
and underlying
assumptions
are reviewed
on an ongoing basis. Revisions to accounting
estimates are
recognised
in the period
in which the estimate
is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
The financial statements
include the following
key estimates:
The freehold
property comprises three floors, two ofwhich are occupied by Variety and the third floor is let at a commercial		 rent.
The third floor investment
property was revalued as at 31 December 2021 atf1.685m on 14June 2022 by Robert Irving Burns
Limited, 29-30Fitzroy Square, London W1T6LQ.The market value is based on the long leasehold
interest,
with the existing
tenancy.
The Charity estimates
the market value of intangible
income using publicly available
price lists, or through
direct confirmation
with the suppliers
ofthe amount that would have been charged
had the gifi or donated service been invoiced.
Accrued income off144,789from residuary
legacies, which is included
in debtors at year end. The amount
reflects the
Charity's
best estimate ofwhat
it will receive from its share ofthe estates. The net value ofestates can change as assets are
realised and so the amounts
the Charity receives may differ from the initial estimate.
Profit and loss account Profit and loss account Profit and loss account Profit and loss account 2021 2020f
Turnover 945,531 386,343
Cost ofsales 427,554 78,538
Gross profit 517,977 307,805
Fundraising
and publicity		 179,233 189,918
Management and administration (payable to the Charity) 9,200 9,600
Net profit 329,544 108,287
GiR aid donation to Charity 329,544 108,287
Retained
profit
The aggregate ofthe assets, liabilities and funds was:
Assets 1,001,172 740,845
Liabilities (1,001,072) (740,745)
Funds (representing 100ordinary shares off1 each) 100 100
3 Donated goods and services 2021 2020f
Intangible
Income
—GiR in		 Kind 234,098 54,721
234,098 54,721
Total expenditure
includes		 f234,098 (2020:f54,721)an equivalent amount being described as Intangible Income (Gift in Kind) in the
Statement
of		 Financial Activities. This amount is in respect ofVariety Great Days Out activities.
4 Employees 2021 2020f
Staff costs
Wages and salaries 709,893 1,031,977
Social security costs 64,031 92,978
Other pension costs 51,097 69,402
825,021 1,194,357
The average number ofemployees during the year was as follows: 2021 2020
Fundraising 13
Events 5
Sunshine
Coaches		 2
Wheelchairs 1
Grants 3
Vanety Great Days Out activities 1
Support 9
22 34
Included
in the		 above is a termination payment off8,704 (2020: nil)
The number
of		 employees whose total remuneration (excluding pension) exceeded f60,000was as follows:
Number Number
2021 2020
5 Expenditure Direct staff Grant costs Other direct Support costs Total
2021 costs
6		 (Note 17)
f		 costs
f		 (Note 6)
f
Expenditure
on raising		 donations and legacies 295,806 21,428 354,817 672,051
Cost ofsales oftrading subsidiary 418,537 418,537
Events support 171,039 204,930 375,969
466,845 439,965 559,747 1,466,557
Sunshine
Coaches		 29,158 1,273,873 40,422 1,343,453
Wheelchairs 26,970 200,527 47,443 274,940
Grants 48,402 174,874 74,553 297,829
Vanety Great Days Out 1,465 272,745 2,435 276,645
105,995 1,922,019 164,853 2,192,867
572,840 1,922,019 439,965 724,600 3,659,424
Direct staff Grant costs Other direct Support costs Total
2020 costs
6		 (Note 17)
f		 costs
f		 (Note 6)
f
Expenditure
on raising		 donations and legacies 485,269 61,186 509,187 1,055,642
Cost ofsales oftrading subsidiary 78,538 78,538
Events support 171,644 179,628 351,272
656,913 139,724 688,815 1,485,452
Sunshine
Coaches		 62,794 1,375,960 70,380 1,509,134
Wheelchairs 32,751 114,946 45,461 193,158
Grants 62,633 346,783 86,163 495,579
Vanety Great Days Out 22,201 81,866 36,254 140,321
180,379 1,919,555 238,258 2,338,192
837,292 1,919,555 139,724 927,073 3,823,644
6 Support Costs Staff Depreciation Other Total
2021
Governance/Legal 59,084 113,783 172,867
Finance 8 Administration 128,985 128,985
IT 8 Database 34,905 79,742 114,647
Office costs 6,844 173,002 179,846
HR/Staff related costs 7,633 48,044 55,677
Media/Publicity 14,278 2,780 17,058
Other support costs 452 35,836 19,232 55,520
252,181 35,836 436,583 724,600
Staff Depreciation Other Total
2020
Governance/Legal 108,444 147,686 256,130
Finance 8 Administration 142,901 142,901
IT 8 Database 35,061 81,606 116,667
Office costs 18,044 206,103 224,147
HR/Staff related costs 13,385 53,587 66,972
Media/Publicity 34,490 8,454 42,944
Other support costs 5,754 41,234 30,324 77,312
358,079 41,234 527,760 927,073
11 Creditors: amounts Creditors: amounts falling due within one year Group Company Group Company
2021 2020
f
Accruals for grants payable 211,913 211,913 183,803 183,803
Mortgage (secured —see note 12) 48,361 48,361 45,785 45,785
Bank loan (see note 12) 50,000 50,000 25,000 25,000
Trade creditors 58,994 58,994 21,835 21,779
Accruals
and deferred		 income 161,658 84,873 262,515 108,809
Other creditors 25,084 11,584 42,090 18,175
556,010 465,725 581,028 403,351
The movement in creditors for grants and donations is as follow:
Charge for Payments
2020
f		 the yearf 2021
Wheelchairs 19,200 200,101 (155,757) 63,544
Sunshine
Coaches		 110,466 1,273,873 (1,301,727) 82,612
General grants 54,137 203,934 (192,314) 65,757
183,803 1,677,908 (1,649,798) 211,913
Charge for Payments
2019
f		 the yearf 2020
Wheelchairs 66,944 90,065 (137,809) 19,200
Sunshine
Coaches		 31,131 1,463,343 (1,384,008) 110,466
General grants 116,315 361,774 (423,952) 54,137
214,390 1,915,182 (1,945,769) 183,803
Deferred income comprises
advance		 income comprises
advance		 ticket sales for various events, ticket sales for various events, ticket sales for various events, London Marathon London Marathon registration fees and rental income received
in advance.		 fees and rental income received
in advance.		 fees and rental income received
in advance.
Group Company
Balance as at 1 January 2021 167,215 26,625
Amount released to income earned (167,215) (26,625)
Amount deferred
in year		 89,759 26,924
Balance as at 31 December 2021 89,759 26,924
Group Company
Balance as at 1 January 2020 133,376 26,566
Amount released to income earned (133,376) (26,566)
Amount deferred
in year		 167,215 26,625
Balance as at 31 December 2020 167,215 26,625
12 Creditors: amounts
falling due after one year
Group and company 2021 2020f
Mortgage (secured) 1,223,683 928,579
Bank Loan (Coronavirus
Business		 Interruption Loan) 175,000 225,000
1,398,683 1,153,579
Mortgage (secured)
The mortgage
is secured
on Variety's
freehold		 land and building and is repayable over the remaining period
of6 years and 3 months at interest rates of5.51%and 3.19%per annum as follows: 2021 2020f
In more than one year but not more than two years 51,081 48,361
In more than two years but not more than five years 171,138 162,024
In more than five years 1,001,464 718,194
1,223,683 928,579
The proportion
ofthe loan to the value ofthe		 assets charged is: 40% 30%
Variety, the Children's
Charity

is repayable ove r the r emai ning
period of54 months
at an int		 erest rate of2.09%p.a. ove r Base Rate
2021 2020
6
In more than one year but not more than two years 50,000 50,000
In more than two years but not more than five years 125,000 150,000
In more than five years 25,000
175,000 225,000
13 Analysis of group net assets between funds 2021 2021 2021
Unrestricted
funds		 Restricted funds Total funds
f f 6
Fixed assets 3,336,808 3,336,808
Current assets 1,553,860 854,172 2,408,032
Current
habilities		 (344,097) (211,913) (556,010)
Long-term
habilities		 (1,398,683) (1,398,683)
Total net assets 3,147,888 642,259 3,790,147
2020 2020 2020
Unrestricted
funds		 Restricted funds Totalfunds
f f 6
Fixed assets 3,301,992 3,301,992
Current assets 999,516 1,129,855 2,129,371
Current
habilities		 (397,225) (183,803) (581,028)
Long-term
liabilities		 (1,153,579) (1,153,579)
Total net assets 2,750,704 946,052 3,696,756
14 Movement
on funds
Group and company 2021 2021 2021 2021 2021
Opening Transfers/ gains Closing
Balance
6		 Income
6		 Expenditure
6		 and (losses)
6		 Balance
6
Unrestricted funds 2,750,704 1,999,273 (1,667,089) 65,000 3,147,888
Restricted funds
Sunshine
Coach		 Programme
incl. Variety Golf		 527,167 1,035,084 (1,340,408) 221,843
Wheelchair Programme 66,035 206,655 (126,413) 146,277
Special Purpose Funds 259,763 348,096 (426,807) 181,052
Kings College Hospital 93,087 93,087
Coronavirus Job Retention Scheme 98,707 (98,707)
946,052 1,688,542 (1,992,335) 642,259
Total funds 3,696,756 3,687,815 (3,659,424) 65,000 3,790,147
The gain of665,000 for the year ended 31 December 2021 reflects the gain on revaluation ofthe investment
property.
2020 2020 2020 2020 2020
Opening Transfers/ gains Closing
Balance Income Expenditure and (losses) Balance
6 6 6 6 6
Unrestricted funds 2,788,182 1,389,099 (1,311,577) (115,000) 2,750,704
Restricted funds
Sunshine
Coach		 Programme 170,399 1,228,733 (1,151,604) 247,528
Wheelchair Programme 46,003 129,426 (109,394) 66,035
Vanety Golf 369,935 496,511 (586,807) 279,639
Special Purpose Funds 499,988 97,246 (337,471) 259,763
Kings College Hospital 93,087 93,087
Coronavirus Job Retention Scheme 216,791 (216,791)
Coronavirus Community Support Fund 110000 (110,000)
1,179,412 2,278,707 (2,512,067) 946,052
Total funds 3,967,594 3,667,806 (3,823,644) (115,000) 3,696,756

17 Grants and donations
(continued)
Balance brought
forward		 584,910
Green Fold Special School, Bolton 41,306
Twydall
Pnmary
School, Kent		 36,651
Foxwood Special School, Nottingham 36,651
Pond Meadow School, Guildford 36,651
West Road Primary,
Doncaster		 30,740
The Shine Centre, Braunstone
Town		 30,740
Drumbeat
School 8ASD Service, Bromley		 30,740
Cranbrook
Primary School, llford		 30,740
Icknield
Pnmary
School, Luton		 30,740
Making Communities
Work, London		 30,740
St Luke's School, Redbourn,
Herffordshire		 30,740
Belmont Park School, Leyton 30,740
The Jeanne Saunders
Centre,
Hove		 28,438
Foxfield Academy,
Blaby		 28,438
Addey and Stanhope School, London 28,438
The Pines School, Birmingham 28,438
Maes Ebbw Special School, Maesglas 24,806
Garston
Manor School, Wafford		 24,506
Greenvale
School, London		 24,506
Chailey Heritage School, Nr. Lewes 24,506
Five Acre School, Kent 24,506
Thisle Wing Kinnaird
School, Larbet		 23,651
Manor Green College, Crawley 21,601
St Peters CE Primary
School, Leeds		 19,940
The Gesher Trust (Gesher School), Pinner 18,190
Muntham
House School, Horsham		 16,638
Donations
under f5,000		 1,026
1,319,717
2020 Individuals Institutions Total
8 No f No f No
Grants 301,201 1,142 45,582 12 346,783 1,154
Sunshine
Coaches		 1,375,960 41 1,375,960 41
Wheelchairs 91,046 20 23,900 1 114,946 21
Vanety Great Days Out 81,866 3,857 81,866 3,857
474,113 5,019 1,445,442 54 1,919,555 5,073
Analysis ofgrants f5,000 and over made to institutions:
St John's Catholic School, Wetherby 44,526
Shenstone
School, Crayford		 72,486
Ambitious
About Autism,
London		 41,526
Claremont
School, Bristol		 41,306
Wyre Forest School, Kidderminster 41,306
Two Rivers Primary School, Tamworth 41,306
The Albion Foundation,
Smethwick		 41,306
Talbot Special School, Sheffield 41,306
Rowan Tree Primary School, Manchester 41,306
Red Gates School, South Croydon 69,160
Northwood
Community
Primary School, Kirby		 41,306
Eresby School, Spilsby 41,306
Drumpark
Primary School, Coatbridge		 41,306
Castledon
School, Wickford		 41,306
Bnmble
Hill School, Swindon		 41,306
The Young Lewisham
Project, Forest		 Hill 37,708
Resources for Autism,
Barnet		 37,108
Willowbank
School, Kilmamock		 36,871
Birtenshaw
School, Liverpool		 36,797
The Milestone School, Longlevens 36,651
Ash Lee School, Cotgrave 36,651
Cramlington
Voluntary
Youth Project,		 Cramlington 34,346
Drumbeat
School and ASD Service, Bromley		 30,740
Carnforth
School, Worcester		 30,740
Balance carried forward 999676
17 Grants and donations
(continued)
Balance brought
forward		 999,676
Villiers High School, Southall 28,948
St Martins School, Alvaston 28,438
Manchester
Secondary School, Manchester		 28,438
Jenner Park Primary School, Barry 28,438
Grange Park School, Wrotham 28,438
Fox Hollies Special School, Birmingham 28,438
Football Beyond Borders, Manchester 28,438
Cherry Oak School, Birmingham 28,438
Cncket Green School, Mitcham 24,806
Brooklands School, Reigate 24,806
Sale United Power Chair Football Club, Nantwich 23,900
Willow Dene School, Plumstead 22,651
The Firs, Northolt 21,901
Maddison
Primary School, Falkirk		 21,901
Mary Russell School, Paisley 16,938
Brooklands School, Reigate 16,938
Spnngwell
School, Hartlepool		 9,851
North Beckton Primary School, Newham 8,000
The Milestone School, Gloucester 6,700
The Golf Trust, London 5,332
Donations
under f5,000		 14,028
1,445,442