**Charity number: 235389**
## **SIR JOHN EASTWOOD FOUNDATION**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
## **SIR JOHN EASTWOOD FOUNDATION**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent auditor's report on the financial statements**|5 - 8|
|**Statement of financial activities**|9|
|**Balance sheet**|10|
|**Statement of cash flows**|11|
|**Notes to the financial statements**|12 - 21|
## **SIR JOHN EASTWOOD FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021**
|**Trustees**|V A Hardingham|
|---|---|
||D W Marriott|
||J N Mudford|
||V C Cottingham|
|**Charity registered**
**number**
235389
**Principal office**
PO Box 9803
Handley Arcade
Leeming Street
Mansfield
Nottinghamshire
NG18 9FT
**Independent auditor**
Barnett & Turner Accountants Ltd
Statutory Auditor
Cromwell House
68 West Gate
Mansfield
Nottinghamshire
NG18 1RR
**Bankers**
NatWest Bank PLC
9 Church Street
Mansfield
Nottinghamshire
NG18 1AF
**Solicitors**
Harrop White Vallance & Dawson
9-11 Albert Street
Mansfield
Nottinghamshire
NG18 1EA
**Investment managers**
CCLA Investment Fund Management
COIF Charity Funds
St Alphage House
2 Fore Street
London
EC2Y 5AQ||
Page 1
## **SIR JOHN EASTWOOD FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021**
The trustees present their annual report together with the audited financial statements of the charity for the year fromyear 1 April 2020 to 31 March 2021. The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) .
## **Objectives and activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
How the charity achieves its policies and objectives for the public benefit is detailed below.
## **Achievements and performance**
## **a. Review of activities**
The charity supports a number of registered charities on a regular basis by making grants each year to those particular charities. The prime target of the trustees each year is to ensure the continuance of these regular grants. Once these have been ensured, the trustees consider special projects applications and then other individual applications. These are reviewed and grants made as the trustees deem appropriate out of surplus income.
The trustees are pleased to report that all their targets for the year ended 31 March 2021 have been achieved and they consider that the performance of the charity this year has been satisfactory in the current market conditions.
## **b. Investment policy and performance**
Under the trust deed, the charity has the power to make any investment which the trustees see fit. However the trustees have adopted a prudent policy of investing in low and medium risk investments. Details of the investments are given in the notes to the financial statements.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 2
## **SIR JOHN EASTWOOD FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **b. Reserves policy**
All of the charity's funds are unrestricted and under the terms of the trust deed may be applied to any charitable purpose as the trustees may decide at their absolute discretion. However, it is the policy of the trustees, subject to any gains or losses of a capital nature, to maintain a level of funds sufficient to be able to sustain the current level of grants for the foreseeable future and to apply the income generated from those funds wholly for charitable purposes.
The trustees maintain at least the balance of income funds in the form of liquid resources, to adequately cover the charity's working capital requirements.
## **Structure, governance and management**
## **a. Constitution**
Sir John Eastwood Foundation is a registered charity, number 235389, and is constituted under a trust deed.
The charity was originally established by the late Sir John Eastwood on 9 March 1964 and is constituted by a trust deed. The objects of the charity are to support other registered charities and priority is given to local charities benefiting Nottinghamshire, although appeals are considered from organisations which operate further afield. Particular emphasis is given to charities which help the disabled, the elderly and children with special needs. There have been no changes in the policies of the charity since the last trustees' report.
The charity operates by making grants only to other registered charities.
## **b. Methods of appointment or election of trustees**
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed.
## **c. Organisational structure and decision-making policies**
The charity is organised so that trustees meet quarterly to manage its affairs. V A Hardingham and D W Marriott, are involved in the day to day running of the charity.
## **d. Policies adopted for the induction and training of trustees**
The power to appoint new trustees rests with the existing trustees subject to a maximum of five trustees at any time. The chairman of trustees is responsible for the induction of any new trustee, which involves awareness of trustees' responsibilities, the governing document, administrative procedures and the history and criteria of the charity. New trustees receive copies of the charity's annual report and financial statements and a copy of the Charity Commission leaflet "The Essential Trustee: What You Need To Know."
## **e. Financial risk management**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 3
## **SIR JOHN EASTWOOD FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021**
## **Plans for future periods**
The charity is a lasting testimony to the generosity and charitable concerns of the donor, and in the forthcoming year the trustees will concentrate on the funding objectives and activities outlined above.
## **Information on fundraising practices**
The charity does not raise funds directly from the public. All income is generated from interest on investments.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditor**
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
- so far as that trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
- that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
Approved by order of the members of the board of trustees on 7 October 2021 and signed on their behalf by:
**V A Hardingham** (Trustee)
Page 4
## **SIR JOHN EASTWOOD FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SIR JOHN EASTWOOD FOUNDATION**
## **Opinion**
We have audited the financial statements of Sir John Eastwood Foundation (the 'charity') for the year ended 31 March 2021 which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Page 5
## **SIR JOHN EASTWOOD FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SIR JOHN EASTWOOD FOUNDATION (CONTINUED)**
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Page 6
## **SIR JOHN EASTWOOD FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SIR JOHN EASTWOOD FOUNDATION (CONTINUED)**
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 and current taxation legislation.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the ability of the charity to continue as a going concern and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about the process undertaken to reach their conclusion on going concern and their own identification and assessment of the risks of irregularities caused by management override of controls, sample testing on the posting of journals and reviewing accounting estimates for biases.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
Page 7
## **SIR JOHN EASTWOOD FOUNDATION**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SIR JOHN EASTWOOD FOUNDATION (CONTINUED)**
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
## **Barnett & Turner Accountants Ltd**
Statutory Auditor Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR 19 October 2021
Barnett & Turner Accountants Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 8
## **SIR JOHN EASTWOOD FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Income from:**
Investments
3
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net expenditure before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2021**
**£**
**298,879**
**298,879**
**444,973**
**444,973**
**(146,094)**
**1,448,790**
**1,302,696**
**9,054,894**
**1,302,696**
**10,357,590**|**Total**
**funds**
**2021**
**£**
**298,879**
**298,879**
**444,973**
**444,973**
**(146,094)**
**1,448,790**
**1,302,696**
**9,054,894**
**1,302,696**
**10,357,590**|Total
funds
2020
£
297,510
297,510
349,734
349,734
(52,224)
(228,705)
(280,929)
9,335,823
(280,929)
9,054,894|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 21 form part of these financial statements.
Page 9
## **SIR JOHN EASTWOOD FOUNDATION**
## **BALANCE SHEET AS AT 31 MARCH 2021**
|**Note**
**Fixed assets**
Investments
9
**Current assets**
Fixed assets held for sale
10
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**350,000**
**-**
**70,412**
**420,412**
**(5,100)**|**2021**
**£**
**9,942,278**
**415,312**
**10,357,590**
**-**
**10,357,590**
**10,357,590**|350,000
45,678
70,913
466,591
(5,185)|2020
£
8,593,488
461,406|
|---|---|---|---|---|
||||||
|||||9,054,894|
|||||-
9,054,894|
||||||
|||||9,054,894|
The financial statements were approved and authorised for issue by the trustees on 07 October 2021 and signed on their behalf by:
## **D W Marriott**
(Trustee)
The notes on pages 12 to 21 form part of these financial statements.
Page 10
## **SIR JOHN EASTWOOD FOUNDATION**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Cash flows from operating activities**
Net cash used in operating activities
15
**Cash flows from investing activities**
Dividends, interests and rents from investments
Proceeds from sale of investments
**Net cash provided by investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
16
The notes on pages 12 to 21 form part of these financial statements|**2021**
**£**
**(399,380)**
**298,879**
**100,000**
**398,879**
**-**
**(501)**
**70,913**
**70,412**|2020
£
(374,067)
297,510
100,000
**397,510**
**-**
**23,443**
47,470
70,913|
|---|---|---|
Page 11
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Sir John Eastwood Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
The COVID-19 pandemic has not had a significant, immediate impact on the charity’s operations. However changes in the general economic conditions brought about by the uncertaintly surrounding COVID-19 have had a significant impact on the values of the charity’s investments at the balance sheet date. Subsequent review of the investment portfolio suggests some recovery to the pre COVID19 levels.
Hence the trustees believe it is appropriate to adopt the going concern basis of preparation of the financial statements.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Page 12
## **SIR JOHN EASTWOOD FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies (continued)**
## **1.4 Expenditure (continued)**
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **1.5 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 institution with whom the funds are deposited.
## **1.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
## **1.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.8 Cash at bank and in hand**
Cash at bank and 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.
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
Page 13
**SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies (continued)**
## **1.10 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **2. General information**
Sir John Eastwood Foundation is an unincorporated charity registered with The Charity Commission, registration number 235389.
## **3. Investment income**
|**Unrestricted**
**funds**
**2021**
**£**
Income from UK listed investments
298,796
Bank interest receivable
83
298,879
Total 2020
297,510|**Total**
**funds**
**2021**
**£**
**298,796**
**83**
**298,879**
297,510|Total
funds
2020
£
297,213
297|
|---|---|---|
|||297,510|
||||
Page 14
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **4. Analysis of grants**
|Grants - unrestricted funds
Total 2020|**Grants to**
**Institutions**
**2021**
**£**
320,000
335,274|**Total**
**funds**
**2021**
**£**
**320,000**
335,274|Total
funds
2020
£
335,274|
|---|---|---|---|
|||||
The charity supports a number of registered charities on a regular basis by making grants each year to those particular charities. The prime target of the trustees each year is to ensure the continuance of these regular grants. Once these have been ensured, the trustees consider special projects applications and then other individual applications.
During the year the charity made a total of 135 grants (2020 - 153 grants) of between £500 and £10,000 (2020 - between £500 and £10,000) .
All grants made in 2021 and 2020 were from unrestricted funds.
Page 15
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **5. List of institutional grants**
|**List of institution/grant**
Nottinghamshire Hospice
Warsop Youth Club
Newark and Notts Agricultural Society
Woodside Farm Stables
John Eastwood Hospice Trust
Loughborough Bell Foundry Trust
NSPCC
Lincolnshire and Nottinghamshire Air Ambulance
Children's Air Ambulance
Amantani UK Trust
Mansfield Street Pastors
Macmillan Cancer Support
Harrington Junior School
The National Holocaust Centre
Hetty's
King's Clipstone Parish Council
Rathside Comfort Fund
St Helen's, Thorganby
St Peter's Centre, Mansfield
Other grants to institutions|**2021**
**£**
**14,000**
**10,000**
**10,000**
**-**
**10,000**
**10,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**5,000**
**-**
**-**
**211,000**
**320,000**|2020
£
24,000
20,000
10,000
10,000
5,000
-
5,000
5,000
5,000
5,000
5,000
5,000
-
-
-
-
-
5,000
5,000
226,274|
|---|---|---|
|||335,274|
Page 16
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **6. Analysis of expenditure by expense heading**
|**Activities**
**undertaken**
**directly**
**2021**
**Grant**
**funding of**
**activities**
**2021**
**£**
**£**
Direct costs
124,973
320,000
Total 2020
14,460
335,274
**Analysis of direct costs**
Insurance
Office accommodation costs
Repairs and renewals
Rates and water
Auditor's remuneration
Auditor's non-audit costs
Professional fees
**7.**
**Auditor's remuneration**
Fees payable to the charity's auditor for the audit of the charity's annual
accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above|**Total**
**funds**
**2021**
**£**
**444,973**
349,734
**Total**
**funds**
**2021**
**£**
**827**
**29,501**
**77,196**
**6,144**
**2,550**
**2,550**
**6,205**
**124,973**
**2021**
**£**
**2,550**
**2,550**|Total
funds
2020
£
349,734
Total
funds
2020
£
2,712
23,266
1,190
(17,808)
2,550
2,550
-
14,460
2020
£
2,550
2,550|
|---|---|---|
Page 17
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **8. Trustees' remuneration and expenses**
During the year, no trustees received any remuneration or other benefits (2020 - £NIL).
During the year a trustee, David Marriott, received reimbursement of expenses for the storage of documents and other office accommodation costs amounting to £29,408 (2020 - £23,113).
During the year ended 31 March 2021, no trustee expenses have been incurred (2020 - £NIL).
## **9. Fixed asset investments**
|**Cost or valuation**
At 1 April 2020
Disposals
Revaluations
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020|**Listed**
**investments**
**£**
**8,593,488**
**(83,044)**
**1,431,834**|
|---|---|
||**9,942,278**|
||**9,942,278**|
||8,593,488|
Listed investments are wholly comprised of COIF charity funds and are included at their market value at the balance sheet date.
## **10. Fixed assets held for sale**
||**2021**|2020|
|---|---|---|
||**£**|£|
|Land and buildings|**350,000**|350,000|
Negotiations continue with a third party for the sale of land held by the charity and it is expected that the potential net sale proceeds will be about £350,000.
The land in question is disclosed as “held for sale” in the balance sheet. The trustees are of the opinion that the site will ultimately be sold for retail development and that the figure adopted remains a reasonable estimate of the potential net sale proceeds.
Page 18
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **11. Debtors**
|Prepayments and accrued income
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2021**
**£**
**-**
**2021**
**£**
**5,100**|2020
£
45,678|
|---|---|---|
|||2020
£
5,185|
## **12. Creditors: amounts falling due within one year**
## **13. Statement of funds**
## **Statement of funds - current year**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**|||**Gains/**|**31 March**|
||**April 2020**|**Income**|**Expenditure**|**(Losses)**|**2021**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Fund|**9,054,894**|**298,879**|**(444,973)**|**1,448,790**|**10,357,590**|
|**Statement of funds - prior year**||||||
||||||Balance at|
||Balance at|||Gains/|31 March|
||1 April 2019|Income|Expenditure|(Losses)|2020|
||£|£|£|£|£|
|**Unrestricted funds**||||||
|General Fund|9,335,823|297,510|(349,734)|(228,705)|9,054,894|
Page 19
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **14. Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2021**
**£**
Fixed asset investments
9,942,278
Current assets
420,412
Creditors due within one year
(5,100)
**Total**
10,357,590
**Analysis of net assets between funds - prior year**
Unrestricted
funds
2020
£
Fixed asset investments
8,593,488
Current assets
466,591
Creditors due within one year
(5,185)
**Total**
9,054,894|**Total**
**funds**
**2021**
**£**
**9,942,278**
**420,412**
**(5,100)**
**10,357,590**
Total
funds
2020
£
8,593,488
466,591
(5,185)
9,054,894|
|---|---|
## **15. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
(Gains)/losses on investments
Dividends, interests and rents from investments
Decrease/(increase) in debtors
(Decrease) in creditors
**Net cash used in operating activities**|**2021**
**£**
**1,302,696**
**(1,448,790)**
**(298,879)**
**45,678**
**(85)**
**(399,380)**|2020
£
(280,929)
228,705
(297,510)
(24,270)
(63)
(374,067)|
|---|---|---|
Page 20
## **SIR JOHN EASTWOOD FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **16. Analysis of cash and cash equivalents**
|Cash in hand
Notice deposits (less than 3 months)
**Total cash and cash equivalents**|**2021**
**£**
**67,503**
**2,909**
**70,412**|2020
£
31,879
39,034|
|---|---|---|
||||
|||70,913|
## **17. Analysis of changes in net debt**
||**At**|**1 April**||**At**|**31 March**|
|---|---|---|---|---|---|
|||**2020**|**Cash flows**||**2021**|
|||**£**|**£**||**£**|
|Cash at bank and in hand||**70,913**|**(501)**||**70,412**|
## **18. Related party transactions**
There are no additional related party transactions to disclose.
Page 21