2021-12-31-accounts - The Reed Foundation

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Registered Charity No: 264728

ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE REED FOUNDATION

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The Reed Foundation

INDEX TO THE ACCOUNTS

Report of The Trustees	2 - 6
Legal and Administrative Information	7
Trustees Responsibility Statement	8
Report of the Auditors	9
Statement of Financial Activities	12
Statement of Financial Position	13
Statement of Cash Flows	14
Notes to the Statement of Cash Flows	15
Notes to the Financial Statements	16-21
Appendix 1 - Charities Supported	22

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The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charity are for such charitable purposes as the settlor may in writing from time to time in his absolute discretion direct and after the settlor's death as the Trustees may in their absolute discretion decide.

The Foundation's principal aim is to fund other established charities. In recent years donations have mostly been to support charities in the fields of arts & culture in the UK, environmental and animal welfare, international development / humanitarian aid and improving the lives of people in the UK.

Since the Big Give was set up in 2007, the Trustees believe that the most effective use of the Foundation's resources is to act as a Champion in the Big Give's match funding campaigns, in particular its main campaign every year, the Christmas Challenge. This means that most of the grants that the Foundation makes every year will be doubled.

The Big Give has a number of criteria to measure the success of its campaigns, relating to improving the resilience, skills and profile of the participating charities. More details can be found in the Big Give section below.

After a reduction in the Foundation's regular sources of income in 2020 due to the Covid-19 pandemic, dividends from the Reed group and rental income from the Reed Business School resumed in 2021 and the Foundation was able to increase its grants by 7%. Despite the ongoing pandemic, the Big Give's 2021 Christmas Challenge was its best ever campaign.

The Foundation's objectives and aims are unchanged for 2022 and the foreseeable future. The resumption of dividends from Reed Global has ensured that the Foundation will have sufficient funds to support the Christmas Challenge and other campaigns in 2022.

Public Benefit

The Charity makes grants to registered charities in the UK for the benefit of the public that these charities serve. The Charity has maintained its funding of these organisations, as well as developing innovative ways to inspire more public philanthropy. The trustees are therefore confident that The Reed Foundation meets the public benefit requirements and they confirm that they have taken into account the guidance contained in the Charity Commission's general guidance on public benefit where applicable.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Income and capital are distributed to charitable causes at the Trustees' discretion. The Foundation's income rose by £961,557 from that received in 2020, mostly from the resumption of dividends from Reed Global in the year. Donations rose by £87,603 to £1,379,775 (2020 - £1,292,172). The Foundation's contribution to the Christmas Challenge increased by £525 to £1,013,158. The charities supported are included in Appendix 1.

The Big Give

The Reed Foundation donated £50,000 in 2007 to set up the Big Give, an online charity comparison site for highlevel donors. A further £119,610 was donated in 2014 to continue the development and promotion of the Big Give but in 2015 the Reed Group took over the provision of ongoing support to the Big Give. This arrangement has since finished, with the last payment made at the end of 2019.

During 2021, the BigGive.org.uk attracted 568,039 visitors to its website across 984,583 sessions (2020: 588,605 visitors across 915,561 sessions).

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2021

The total number of online donations processed through the Big Give match funding platform was 111,018 (2020: 90,049), totalling £15,381,067 (2020: £12,967,237). These donations resulted in an overall income for charities of £30,768,279 including match funds and Gift Aid on online donations (2020: £26,196,419).

Christmas Challenge 2021

The Big Give Christmas Challenge is the UK’s biggest online match funding campaign which helps UKregistered charities raise funds for their cause. Since its inception in 2008, it has evolved to improve the experience for charities and donors alike.

The Big Give has built upon its successful model of match funding and has continued its annual growth, with once again in 2021 a record number of donations being received.

As in previous years, external sponsors or 'Champions' were invited to take part, offering £4,015,474 and using £3,655,644 in match funds (2020: £3,710,018 offered and £3,362,247 including the Reed Foundation's own portfolio of charities of £847,981 (of which £794,330 was used). These Champions each chose a group of charities they wished to support with their funds.

The Challenge raised over £24.1million from the match funds offered by the Champions. Alongside the Reed Foundation, Champions included The Childhood Trust, The Waterloo Foundation, The Julia and Hans Rausing Trust and Candis Magazine amongst others. By using the Big Give model of matched funding the Champions were able to leverage their contributions by an average of 5.7 (2020: 5.8) times for the benefit of their charities.

928 (2020: 764) charities took part and the benefits to those participating included; donors giving more, attracting new donors, re-engaging with lapsed donors and being able to try out new methods of fundraising.

The impact of the campaign is measured on increasing the resilience, skills and profile of the participating charities. The following impact was created:

Resilience: 75% of charities reported securing more or significantly more donations and 66% of charities reported securing bigger or significantly bigger donations (than any comparable fundraising).
Skills: 86% of charities reporting increased confidence (a lot or a little) in online fundraising thanks to the campaign

Not only has the Chistmas Challenge produced over £50,000 in donations towards our work, but it has also helped us refine the way we communicate across all our appeals. From better understanding our supporters and the aspects of our work that inspire them, to giving us a foundation to analyse, learn and ultimately improve the quality of the communications we produce. It also forms the single biggest opportunity for new donor acquisition.

Charity partipating in Christmas Challenge 2021

Other Matched Funds

In 2021, the Big Give supported the Disasters Emergency Committee with two separate emergency match funding campaigns. The first, to support the Covid-19 response in India raised £368,986 and the Afghanistan Crisis Appeal raised £760,957 to provide emergency food and health facilities for displaced families. The Reed Foundation contributed match funding to both appeals.

The Reed Foundation also donated match funding to The Big Give to launch its inaugural Green Match Fund. The campaign supported a portfolio of 112 best-in-class environmental charities which launched on World Earth Day and raised £1,823,769.

The Big Give also continued to partner with The Childhood Trust to run its seventh “Champions for Children” campaign. 112 charities were supported (2020: 95), raising a total of £3,434,506 (2020: £3,655,349).

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2021

Finally, the Big Give supported 34 different charities (2020: 11) to run their own match funding campaigns on the Big Give platform which raised a total of £1,724,630 including match funds and Gift Aid (2020: £914,294). This continues the intention begun in 2018 to make this a more frequently used offering by more charities, allowing charities to benefit from the power of match funding outside of the larger campaigns curated by the Big Give.

FINANCIAL REVIEW

Financial position

Total funds rose by £1,791,448 during the year. The Foundation received a dividend of £1,812,805 from Reed Global; there were also £1,366,149 fair value gains in the Foundation’s investment property assets. The Reed Business School also resumed paying rent in August 2021 after reopening to students; the Foundation had given the School a rent holiday while it was unable to accept students during the pandemic.

Principal funding sources

The principal funding sources for the charity are donations received from Sir Alec Reed and his family and investment income from assets held by the trust.

Investment policy and objectives

The Foundation has once again invested in a production by Matthew Bourne's ballet company (New Adventures), after good returns from previous investments - the last investment, in the Red Shoes in 2019, resulted in a 28% return. The latest show is a Christmas production of the Nutcracker, postponed from 2020. Having considered the limited options available, the Trustees decided to invest the available funds in bank deposit accounts. The Trustees consider the overall return on these deposits to be disappointing, but are more concerned with the safety of the Foundation's funds than taking any risks in the current climate.

The investments are under constant review.

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The Reed Foundation

REPORT OF THE TRUSTEES

for the year ended 31 December 2021

Reserves policy

At the end of the reporting period the Charity held £21,478,441 in total funds. All funds were unrestricted. £1,097,667 of expenditure was committed by the end of the year and already provided for, mostly for donations to the Big Give Christmas Challenge held in December 2021. No commitments had been made at the end of the year which were not provided for as liabilities. Therefore the amount of reserves the Charity held at the end of the period after allowing for commitments was £21,478,441.

The Charity held no tangible fixed assets during the year and no programme related investments.

The Charity held £19,106,647 in fixed asset investments and investment property at the end of the period. As these represent a significant source of the Charity’s income, the Charity’s policy is to have sufficient net current assets to enable it to maintain its support of the Christmas Challenge and other emergency appeals in the next year without either having to sell its investments or rely on donations and dividends. At the end of the year net current assets totalled £2,371,793 which is sufficient to replicate 2021’s level of donations to the Christmas Challenge in 2022. The Trustees therefore are satisfied with the level of reserves.

FUTURE PLANS

The Charity plans to continue the activities outlined above in the forthcoming year, subject to satisfactory funding arrangements.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document

The Charity was set up on 20 September 1972 and is governed by a Trust Deed and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The Trustees are members of the Management Committee. Sir Alec Reed and James Reed have a very successful business record and all the Trustees have considerable experience with the Foundation and other charities set up by the Reed family. Because of their prior expertise, additional training is not considered necessary. Trustees are appointed to the charity when vacancies arise either through the identification of knolwledge gaps or because of resignations. New trustees will be inducted and trained based on Charity Commission guidance.

Organisational Structure

The Charity has no staff. Sir Alec Reed's personal assistant carries out all administrative work. The Board of Trustees are the ultimate decision-makers.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2021 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number 0264728 Principal address c/o Reed Online Dragon Court 27-29 Macklin Street London WC2B 5LX Trustees: Sir Alec Reed CBE FCMA J A Reed MA MBA FCIPD R A Reed LLB MA A M Chapman MA M.Phil Auditors: Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX Bankers: Coutts & Co 440 Strand London WC2R 0QS Legal Advisers: Freeths LLP 5000 Oxford Business Park South Oxford OX4 2BH

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The Reed Foundation

REPORT OF THE TRUSTEES for the year ended 31 December 2021

TRUSTEES RESPONSIBILITY STATEMENT

The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and etimates that are reasonable and prudent;
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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.

28 October Approved by order of the Board of Trustees on ………………….…………...2022 and signed on its behalf by:

……………………………………………………………… Sir Alec Reed - Trustee

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Report of the Independent Auditors to the Trustees of The Reed Foundation

Opinion

We have audited the financial statements of The Reed Foundation (the ‘charity’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, 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).

In our opinion, the financial statements:

give a true and fair view of the state of the Charity’s affairs as at 31 December 2021 and of the incoming resources and application of resources, including its income and expenditure, 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 have been appointed as auditors under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. 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 UK, 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 original financial statements were 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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

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Report of the Independent Auditors to the Trustees of

The Reed Foundation

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept by the charity, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; 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 set out on page 8, the trustees are responsible for the preparation of the financial statements and for being satisfied that they 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 Charityʼs 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.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards of Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

Scope of the audit of the financial statements

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 are detailed below:

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risks of material misstatement in respect of fraud, including irregularities and non-compliance with laws and regulations, our procedures included the following:

We obtained an understanding of the legal and regulatory frameworks applicable to the charity financial statements or that had a fundamental effect on the operations of the charity. We determined that the most significant laws and regulations included UK GAAP, the Charities SORP, Charity legislations and regulation and taxation laws;

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Report of the Independent Auditors to the Trustees of The Reed Foundation

We understood how the charity is complying with those legal and regulatory frameworks by making inquiries of the management.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
testing the operating effectiveness of controls that prevent and detect fraud;
challenging assumptions and judgments made by management in its significant accounting estimates; and
- identifying and testing journal entries, in particular any journal entries posted with unusual characteristics.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website. 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 the Charities Act 2011. 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’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

…………………………….

Martin Howard FCA (Senior Statutory Auditor)

For and on behalf of Hazlewoods LLP - Statutory Auditor

Date: ............................................. 28 October 2022

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The Reed Foundation

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2021

Notes Income and Endowments From Donations and legacies Investment income 2 Total Expenditure on Charitable activities Charitable donations Management & administration 5 Total Net gains on investments 8 Net Income/(Expenditure) Reconciliation of Funds Total funds brought forward Fund balances at end of year CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities.		31.12.21 Unrestricted funds £ 2,666 1,886,513 1,889,179 (1,379,775) (76,249) (1,456,024) 1,358,293 1,791,448 19,686,993 21,478,441	31.12.20 Unrestricted funds £ 827,657 99,965
			927,622 (1,292,172) (30,712)
			(1,322,884) 533,872
			138,610 19,548,383
			19,686,993

The notes form part of these financial statements

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The Reed Foundation

STATEMENT OF FINANCIAL POSITION At 31 December 2021

Notes Investments Investments 7 Investment property 8 Total Fixed Assets Current Assets Short Term Investment 9 Debtors 10 Cash in hand Creditors Amount falling due within one year 11 Net Current Assets Total Assets Less Current Liabilities Net Assets Funds 12 Unrestricted funds Total Funds	31.12.21 Unrestricted funds £ 10,128,087 8,978,560 19,106,647 19,106,647 30,000 43,327 3,402,464 3,475,791 (1,103,997) 2,371,794 21,478,441 21,478,441 21,478,441 21,478,441	31.12.20 Unrestricted funds £ 10,128,087 8,437,411
		18,565,498
		18,565,498
		- - 2,126,381
		2,126,381 (1,004,887)
		1,121,494
		19,686,993
		19,686,993
		19,686,993
		19,686,993

28 October 2022

The financial statements were approved by the Board of Trustees on……………………………… …..and were signed on its behalf by:

………………………………………………… Sir Alec Reed, Trustee

………………………………………………… James Reed, Trustee

The notes form part of these financial statements

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The Reed Foundation

STATEMENT OF CASH FLOWS For the Year Ended 31 December 2021

Notes Cash flows from operating activities: Cash generated from operations 1 Cash flows from investing activities: Dividends, interest and rents from investments Sale of investment property Purchase of short term investment Redemption of short term investment Net cash used in operating activities Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.12.21 £ (1,397,574) (1,397,574) 1,886,513 817,144 (30,000) - 2,673,657 1,276,083 2,126,381 3,402,464	31.12.20 £ (1,180,018)
		(1,180,018)
		99,965 - (30,000) 65,000
		134,965

		(1,045,053) 3,171,434
		2,126,381

The notes form part of these financial statements

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The Reed Foundation

Notes to the Statement of Cash Flows For the Year Ended 31 December 2021

1 Reconciliation of Net Income to Net Cash Flow from Operating Activities

Adjustments for: Depreciation charges Gains on investments and property revaluations Dividends, interest and rents from investments (Increase)/decrease in debtors Increase in creditors Asset donated Property donation received Net cash used in operating activities ANALYSIS OF CHANGES IN NET FUNDS At 1 January 2021 Net cash Cash at bank 2,126,381 Net income/(expenditure) for the reporting period (as per the statement of financial activities)	31.12.21 £ 1,791,448 - (1,358,293) (1,886,513) (43,327) 99,111 - - (1,397,574) Cashflow 1,276,083	31.12.20 £ 138,610 621 (533,872) (99,965) 57,481 80,865 1,242 (825,000)
		(1,180,018)
		At 31 December 2021 3,402,464

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2021

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) revised March 2018 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (second edition published October 2019), effective 1 January 2019 and the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements have been prepared under the historical cost convention with the exception of investments which are included at fair value.

The accounts are prepared on a going concern basis as there are no material uncertainties about the charity's ability to continue for the foreseeable future.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The Following specific polices are applied to particular categories of income:

Donations are recognised when the charity has been notified in writing of both the amount and the settlement date.

Investment income is included when receivable.

Expenditure

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer, this is accrued once the grant award has been notified.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Depreciation on fixed assets is calculated on a straight-line basis over the estimated economic life of the asset, being five years.

Investment property

Investment properties are properties, that are held either to earn rental income or for capital appreciation, or both. Investment properties are measured initially at cost including related transaction costs, and subsequently at fair value. Fair value is based on market value, as determined by the trustees at each reporting date. The difference between the fair value of an investment property at the reporting date and its carrying amount prior to re-measurement is included in the income statement as a valuation surplus or deficit. Investment properties are presented on the balance sheet within non-current assets.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Donated assets and services

Gifts in kind, donated services and facilities are included in donations at their open market value.

Investments

Unquoted shares are stated at cost.

Unquoted debentures are stated at their redeemable value being the trustees' best estimate of fair value.

Financial Instruments

The trust 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.

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021

2. Investment Income

Dividend and Investment Income Deposit account interest	31.12.21 £ 1,886,050 463 1,886,513	31.12.20 £ 96,101 3,864
		99,965

3. Grants Payable

31.12.21 31.12.20 £ £ Charitable donations 1,379,775 1,292,172

4. Trustees' Remuneration and Benefits

None of the trustees have been paid any remuneration or received any other benefit from an employment with the Foundation for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

None of the trustees was paid any expenses during the year ended 31 December 2021 nor for the year ended 31 December 2020.

Employees

The Foundation had no employees in either 2021 or 2020.

5. Allocation of Support and Governance Costs

Support costs Office costs Bank charges Goverance costs Audit Total Support and governance costs	Unrestricted funds 31.12.21 £ 69,052 1,077 70,129 6,120 76,249	Unrestricted funds 31.12.20 £ 24,939 1,272
		26,212 4,500
		30,712

6. Consolidation of accounts

These accounts are the consolidated accounts of the Foundation and its subsidiary, Phoenix Recruitment Ltd ("Phoenix"). The Foundation was the sole shareholder of Phoenix, which was incorporated on 10 May 2021 (company number 13385015). Phoenix was a recruitment agency. In 2021 it incurred £24,884 in costs, mostly in legal costs for its set-up and web hosting costs, and did not generate any turnover. Sir Alec Reed, a Trustee of the Foundation, paid all Phoenix's costs and was repaid in 2022. Phoenix had net liabilities totalling £24,884 at 31 December 2021. In 2022 the decision was taken to wind up the company.

7. Fixed Asset Investments

Investments in subsidiaries Shares - unlisted investments Other - Debentures	31.12.21 £ - 8,574,960 1,553,127 10,128,087	31.12.20 £ - 8,574,960 1,553,127
		10,128,087

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021

Additional information as follows:

Subsidiary

Cost £ - At 1 January 2021 Additions 1 At 31 December 2021 1 Net Book Value - At 1 January 2021 Additions 1 Written-off (1) At 31 December 2021 -

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Principal activity	Holding	Proportion of voting rights and shares held	Proportion of voting rights and shares held
			2022	2021
Phoenix Recruitment Ltd	Recruitment	Ordinary	100%	-
Shares
				Unlisted
				investments
				£
Cost
At 1 January 2021				8,574,960
Additions				-
At 31 December 2021				8,574,960
Net Book Value
At 31 December 2021				8,574,960
At 31 December 2020				8,574,960

Investment assets held within the U.K. at the year end were valued at £10,128,087 (2020: £10,128,087), being £1,553,127 (2020: £1,553,127) variable rate unsecured loan notes in Juxon Limited and 35,919,020 (2020: 35,919,020) Ordinary 'A' Shares valued at £8,574,960 (2020: £8,574,960), in Reed Global Limited.

Debentures were as follows:

At 1 January 2021 At 31 December 2021 Investment Property Market Value At 1 January 2021 Disposal Revaluation At 31 December 2021 Net Book Value At 31 December 2021 At 31 December 2020	31.12.21 £ 1,553,127 1,553,127	31.12.20 £ 1,553,127 1,553,127
		£ 8,437,411 (825,000) 1,366,149
		8,978,560
		8,978,560
		8,437,411

During the year the Foundation's existing property was revalued by the Trustees. This resulted in a fair value gain of £1,366,149.

The notes form part of these financial statements

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The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2021

9. Short Term Investments

In 2021 the Foundation invested £30,000 in Matthew Bourne's production of the Nutcracker, which had been postponed from 2020 due to the Covid-19 pandemic. The Foundation had previously invested £30,000 in the production in 2020 but the investment was returned in 2020 when it became clear the production could not go ahead.

10. Debtors: Amounts falling due within one year

Debtors: Amounts falling due within one year
Accrued income Trade debtors	31.12.21 £ 4,212 39,116 43,327	31.12.20 £ - -
		-

All the other debtors at the end of 2021 relate to rental income. Accrued income relates to the loan note interest.

11. Creditors: Amounts falling due within one year

Accruals Deferred income Trade payables	31.12.21 £ 6,331 - 1,097,666 1,103,997	31.12.20 £ 4,438 650 999,799
		1,004,887

The majority of payables at the end of 2021 and 2020 were due to The Big Give Matching Challenge that takes place in December each year.

12. Movement in Funds

Unrestricted funds General fund Total Funds Net movement in funds, included in the above are as follows: Unrestricted funds General fund Total Funds	At 1.1.21 £ 19,686,993 19,686,993 Incoming resources £ 3,247,472 3,247,472	Net movement in funds £ 1,791,448 1,791,448 Resources expended £ (1,456,024) (1,456,024)	At 31.12.21 £ 21,478,441
			21,478,441
			Movement in funds £ 1,791,448
			1,791,448

13. Related party transactions

Donations received include £2,500 (2020: £2,500) in waived accountancy fees from Reed Specialist Recruitment Limited and £166 (2020: £157) for the water supply to an investment property from Sir Alec Reed. 2020's donations received included a property valued at £825,000 from Lady Reed, a connected party.

Cash donations include £1,343,275 (2020: £1,209,268) to The Big Give Trust, which is controlled by the Trustees. This included £180,117 for the Green Match Fund, £100,000 for the India Match Fund, £50,000 for the Afghanistan appeal, £966,323 paid on to charities participating in the Christmas Challenge and the rest to enable it to operate the online fundraising Christmas Challenge. £15,000 was donated to Ethiopiaid, a connected charity.

The Reed Business School, a company with common Trustees, rented investment properties from the Foundation at a charge of £39,116 (2020: £26,077). Due to the pandemic the Business School began running courses purely online from April 2020 and the Foundation gave the School a rent holiday until it started accepting students in person again in August 2021.

Sir Alec funded the expenses of the Foundation's subsidiary, Phoenix Recruitment, totalling £28,884 (see note 6). This was repaid after the year end. These expenses included £8,243 paid to Reed Online and £120 paid to Reed Specialist Recruitment, both connected companies.

The Foundation received a £1,812,805 dividend (2020: £0) from Reed Global in the year.

The notes form part of these financial statements

��

The Reed Foundation

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2021

14. Operating leases

The total of future minimum lease payments is as follows:

Operating leases The total of future minimum lease payments is as follows:
Not later than one year Later than one year and not later than five years Later than five years	2021 £ 109,208 355,982 81,407 546,597	2020 £ 11,772 9,750 -
		21,522

The amount of non-cancellable operating lease payments recognised as revenue during the year was £56,638 (2020: £47,835).

The notes form part of these financial statements

��

The Reed Foundation

Detailed Statement of Financial Activities

Income and Endowments Donations and legacies Donations Investment Income Dividend and Investment Income Deposit account interest Total incoming resources Expenditure Charitable activities Miscellaneous Expenses Depreciation Supplier write-off Accountancy Audit fees Professional fees Grants to institutions Total resources expended Gain on investments Net income (expenditure)	for the year ended 31 December 2021	31.12.21 £ 2,666 1,886,050 463 1,886,513 1,889,179 66,768 - - 2,500 6,120 861 1,379,775 1,456,024 1,456,024 1,358,293 1,791,448	31.12.20 £ 827,657 96,101 3,864
			99,965
			927,622 15,867 621 (1,250) 2,500 4,500 8,474 1,292,172
			1,322,884
			1,322,884 533,872
			138,610

This page does not form part of the statutory financial statements

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Charity: Account Name	*Christmas* *Challenge Total* Paid by Reed Foundation	Other donations
174 Trust/The Duncairn	£ 47,548 £ 7,500
A Rocha International	£ 35,516 £ 5,000
Action For A-T	£ 27,253 £ 5,000
Action Medical Research	£ 80,126 £ 12,500
Action On Pre-eclampsia	£ 20,704 £ 3,750
Advantage Africa	£ 11,115 £ 2,000
Advocate	£ 14,450 £ 1,500
African French Speaking Community Support	£ 15,823 £ 1,750
African Promise	£ 17,110 £ 2,500
AFRINSPIRE	£ 27,145 £ 4,000
Age Connects Cardiff And The Vale	£ 11,528 £ 1,750
Age NI	£ 16,864 £ 2,500
Age UK Birmingham Limited	£ 2,246 £ 75
Age UK Northumberland	£ 9,136 £ 1,906
Alexander Whitley Dance Company	£ 11,335 £ 2,500
Alex's Wish	£ 5,375 £ 1,250
Anne Frank Trust UK	£ 91,943 £ 12,500
Appeal	£ 11,491 £ 1,250
ASIRT	£ 4,653 £ 1,050
Association of Visitors to Immigration Detainees	£ 4,265 £ 500
Ataxia UK	£ 62,738 £ 8,750
AzuKo	£ 6,549 £ 1,500
Bell House Dulwich	£ 4,006 £ 1,000
Beyond Ourselves	£ 18,413 £ 2,500
Birmingham Hippodrome Theatre Trust Limited	£ 24,931 £ 2,500
Blackburn Youth Zone	£ 32,438 £ 5,000
Boxgrove Parent Teacher Association	£ 9,455 £ 750
Breadwinners	£ 11,436 £ 1,250
Bristol Old Vic and Theatre Royal Trust Limited	£ 41,100 £ 6,750
British Youth Opera	£ 7,919 £ 1,000
Bury Metropolitan Arts Association	£ 8,010 £ 1,500
Butterfly Conservation	£ 33,371 £ 5,000
CancerCare	£ 9,468 £ 1,000
CAPLOR HORIZONS	£ 25,629 £ 3,750
CARE International UK	£ 71,512 £ 10,000
CBM UK	£ 49,399 £ 7,500
Central School of Ballet	£ 18,199 £ 2,500
Centre 404	£ 4,168 £ 329
Centre For Women's Justice	£ 13,343 £ 1,500
Cerebra - For Brain Injured Children And Young People	£ 5,078 £ 1,000
Challengers	£ 34,557 £ 5,804
Cheltenham Festivals	£ 34,165 £ 5,000
Cherry Trees	£ 29,481 £ 2,500
Children 1st	£ 52,055 £ 10,000
Citizens UK	£ 63,773 £ 7,500
City Gate Community Projects	£ 10,781 £ 1,250
Civil Liberties Trust	£ 34,235 £ 5,000
Cleft	£ 5,095 £ 1,000
Community Activities Project Ealing (C.A.P.E)	£ 5,766 £ 1,200
CONSERVATION COLLECTIVE	£ 17,294 £ 2,500
Consortium for Street Children	£ 23,810 £ 2,500
Cribs International	£ 5,794 £ 643
Crossway Pregnancy Crisis Centre	£ 8,168 £ 1,250
Cure EB (Formerly Known as Sohana Research Fund)	£ 56,155 £ 5,000
Debate Mate Schools Limited	£ 17,901 £ 2,500
Demelza House Childrens Hospice	£ 8,080 £ 1,250
Designability	£ 18,024 £ 1,250
Doctors Of The World	£ 30,685 £ 3,000
EARTHWORKS	£ 6,925 £ 1,000
East Anglia's Children's Hospices (EACH)	£ 48,756 £ 7,500

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Escape Community Art in Action	£ 5,406 £ 1,000
Ethiopiaid		£ 15,000
FareShare	£ 60,806 £ 10,000
Farms for City Children	£ 20,385 £ 2,500
Farnham Youth Choir	£ 11,883 £ 1,250
Fiori Musicali	£ 33,314 £ 3,000
Firefly International	£ 36,980 £ 3,700
Forest of Avon Trust	£ 4,500 £ 1,000
ForRefugees	£ 45,676 £ 4,000
Freedom Community Project	£ 2,946 £ 85
Freedom4girls	£ 4,218 £ 1,000
Friends of the Earth Charitable Trust	£ 157,462 £ 15,000
FUEL	£ 13,405 £ 189
Future Talent	£ 63,231 £ 10,000
Gabrieli Consort & Players	£ 56,699 £ 3,750
George House Trust	£ 10,298 £ 1,250
GIST Cancer UK	£ 6,241 £ 840
Harpenden Spotlight On Africa	£ 12,742 £ 2,000
Harrison's Fund Ltd	£ 12,368 £ 1,250
Headway East London	£ 4,614 £ 1,000
Headway Leicester	£ 4,805 £ 1,000
Helping Rhinos	£ 22,300 £ 3,750
Highlands and Islands Environment Foundation	£ 15,254 £ 2,500
Himmah	£ 12,923 £ 2,000
Hinksey Sculling School Ltd.	£ 17,219 £ 2,500
Hollie Gazzard Trust	£ 4,661 £ 626
Homelink Day Respite Care Centre	£ 12,247 £ 1,250
Home-Start Manchester	£ 4,266 £ 1,000
Hope Into Action UK	£ 118,412 £ 10,000
Humanitarian Aid Relief Trust	£ 16,755 £ 1,893
Independent Arts	£ 5,054 £ 1,000
Indigo Volunteers	£ 5,184 £ 600
International Health Partners	£ 50,686 £ 5,000
International Justice Mission UK	£ 118,254 £ 20,000
Jacksons Lane	£ 25,209 £ 2,263
JDRF	£ 112,407 £ 12,500
Jessie's Fund	£ 23,286 £ 2,500
Jubilee Debt Campaign	£ 76,457 £ 10,000
Justice and Care	£ 30,914 £ 3,000
Kent Multiple Sclerosis Therapy Centre Limited	£ 8,483 £ 1,875
Kith & Kids	£ 16,760 £ 2,500
LAW CENTRES FEDERATION	£ 39,884 £ 4,000
Leicester City Of Sanctuary	£ 8,108 £ 1,000
Lewa Wildlife Conservancy UK	£ 33,842 £ 3,750
Liberdade Community Development Trust	£ 9,335 £ 2,000
Lifeshare Ltd.	£ 15,089 £ 2,000
Longfield	£ 21,726 £ 1,250
Lutyens Trust		£ 2,500
Lymphoma Action	£ 14,472 £ 2,500
Magic Me	£ 6,464 £ 750
Manchester Action On Street Health	£ 6,710 £ 1,500
Marine Conservation Society	£ 17,391 £ 2,500
Maternity Worldwide	£ 12,774 £ 2,000
Mbedza Projects Support	£ 8,994 £ 1,250
ME Association	£ 44,890 £ 7,500
Medical Aid Films	£ 13,329 £ 2,000
Meningitis Now	£ 4,771 £ 1,000
Milton Keynes Hospital Charity	£ 8,555 £ 1,975
Momentum Children's Charity	£ 33,605 £ 5,000
Mosaik Education	£ 23,634 £ 3,500
Multiple Sclerosis Trust	£ 23,560 £ 3,000
MUSIC IN THE ROUND	£ 17,538 £ 2,500
My Sister's Place	£ 7,928 £ 1,750

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Network for Africa	£ 25,571 £ 3,000
Neuro Therapy Centre	£ 21,848 £ 3,750
Noah's Ark Charity	£ 55,738 £ 8,000
NW7 Hub		£ 1,500
On-Call Africa	£ 10,954 £ 2,000
Oracle Cancer Trust	£ 30,265 £ 3,600
Orangutan Foundation	£ 25,194 £ 3,500
Orion Symphony Orchestra	£ 11,721 £ 2,500
Over The Wall	£ 50,648 £ 7,500
Pandas Foundation	£ 4,504 £ 1,000
Parenting Special Children	£ 5,668 £ 675
Parkinson's Care and Support UK	£ 7,074 £ 1,600
Peace Brigades International (PBI) UK Section	£ 14,935 £ 1,650
Phyllis Tuckwell Hospice	£ 17,705 £ 2,500
PONT	£ 13,441 £ 2,000
Power For The People	£ 17,250 £ 2,500
Pramalife Limited	£ 2,455 £ 55
Preston Vocational Centre Ltd	£ 15,871 £ 2,500
Prisoners of Conscience Appeal Fund	£ 57,933 £ 5,000
Prostate Cancer Research Centre	£ 46,375 £ 7,000
Pursuing Independent Paths - PIP	£ 10,469 £ 1,150
Reach Learning Disability	£ 18,541 £ 3,000
Reading Refugee Support Group	£ 13,102 £ 1,381
Rett UK	£ 25,827 £ 3,750
Rewilding Britain	£ 59,493 £ 7,500
Rockinghorse Children's Charity	£ 13,299 £ 2,000
Rotherfield St Martin	£ 5,990 £ 605
Royal College of Music	£ 133,371 £ 20,000
Royal Holloway University of London	£ 110,824 £ 20,000	£ 15,000
Ruddi's Retreat	£ 6,375 £ 750
Ruth Hayman Trust	£ 14,630 £ 1,500
SALISBURY HOSPICE CHARITY	£ 19,554 £ 2,500
Sebastian's Action Trust	£ 31,287 £ 3,000
Send a Cow	£ 83,005 £ 12,500
Sheffield Theatres Trust	£ 56,860 £ 7,500
Shivia	£ 57,408 £ 7,500
Simpsons Special Care Babies	£ 5,689 £ 1,250
South London Cares	£ 17,893 £ 3,760
Southbank Sinfonia	£ 25,789 £ 3,750
Spinal Injuries Association	£ 24,651 £ 1,500
Spitalfields Crypt Trust	£ 43,863 £ 7,500
St Peter & St James Hospice	£ 21,155 £ 2,500
Staffordshire Pathway Project	£ 3,946 £ 810
Stay Up Late	£ 12,005 £ 1,875
Step (UK) Ltd	£ 39,039 £ 3,500
Street Child United	£ 16,960 £ 2,500
StreetInvest	£ 13,304 £ 1,500
Sumatran Orangutan Society	£ 65,543 £ 7,500
SWITCH THE PLAY FOUNDATION	£ 15,476 £ 2,500
Thames Reach Charity	£ 25,048 £ 3,750
The Adsum Foundation	£ 4,619 £ 1,025
The Basingstoke and Alton Cardiac Rehabilitation Charity Limited	£ 18,554 £ 2,500
THE BEACON FELLOWSHIP CHARITABLE TRUST	£ 86,100 £ 15,000
The Big Give Trust - Afghanistan Appeal		£ 50,000
The Big Give Trust - Christmas Challenge Awards		£ 15,000
The Big Give Trust - Green Match Fund		£ 180,117
The Big Give Trust - India Match Fund		£ 100,000
The Big Give Trust - Other		£ 117,635
The Birchall Trust	£ 4,355 £ 1,000
The Brain Charity	£ 4,592 £ 941
The Chartwell Cancer Trust	£ 13,539 £ 2,000
The Choir with No Name	£ 7,698 £ 1,500

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The Connection at St Martin's - helping homeless people in London £ 85,793 £ 12,500 The Diss Corn Hall Trust £ 7,636 £ 944 The Duke of Edinburgh's International Award Foundation £ 66,522 £ 4,923 The Eikon Charity £ 55,943 £ 5,000 THE ENVIRONMENT CENTRE £ 4,884 £ 1,000 The Golf Foundation £ 3,096 £ 415 The Hands Up Foundation £ 44,791 £ 7,500 The Include Project £ 22,087 £ 5,000 The Labour Behind The Label Trust £ 13,205 £ 1,500 The Michael Sobell Hospice Charity £ 23,165 £ 3,750 The Mulberry Centre £ 4,230 £ 902 The Multiple Sclerosis Therapy Centre (NW) £ 8,608 £ 1,875 The Neuromuscular Centre £ 16,515 £ 2,000 The Norden Farm Centre Trust Limited £ 12,796 £ 1,417 The Orchard Project £ 33,099 £ 5,000 The Orchard Trust £ 10,295 £ 2,000 The Passage £ 572,973 £ 25,000 The Prince's Trust £ 160,369 £ 20,000 THE RECRUITMENT JUNCTION £ 13,693 £ 2,000 The Royal Ballet School £ 46,239 £ 7,500 The Royal Central School of Speech and Drama £ 56,168 £ 7,500 The Royal Naval Benevolent Society for Officers £ 12,985 £ 2,000 The Shakespeare Hospice £ 13,201 £ 2,000 The Sustainable, Ecological And Economic Development Project (The SEED Project) £ 22,828 £ 2,500 The Welcome Centre (huddersfield) £ 27,560 £ 2,000 The Wiener Holocaust Library £ 34,229 £ 5,000 THEATR CLWYD TRUST LTD £ 8,846 £ 1,250 Theodora Children's Charity £ 65,204 £ 10,500 TimeNorfolk £ 7,013 £ 1,250 Tommy's £ 108,660 £ 20,000 Tom's Trust £ 11,563 £ 1,250 Transparency International (UK) £ 13,623 £ 2,000 Tree Sisters £ 48,132 £ 7,500 Tuberous Sclerosis Association £ 8,674 £ 1,500 TUSK TRUST LIMITED £ 50,838 £ 7,500 Ty Hafan £ 19,293 £ 2,500 Ulverston Ford Park Community Group £ 2,511 £ 79 UNICEF UK £ 52,408 £ 8,664 Upbeat Communities Ltd £ 22,068 £ 2,500 Voces Cantabiles Music £ 22,785 £ 2,500 WaterHarvest £ 22,668 £ 3,500 Watts Gallery Trust £ 56,069 £ 5,000 White Lodge Centre £ 36,946 £ 5,000 Whitley Fund for Nature £ 108,160 £ 12,500 Wicked Weather Watch £ 5,553 £ 1,375 Wild Futures £ 11,096 £ 1,250 Wildlife Vets International £ 33,764 £ 5,000 WISE CHILDREN LIMITED £ 15,073 £ 2,000 World Child Cancer UK £ 33,585 £ 5,000 XLP £ 40,874 £ 7,500 YES! Tanzania £ 5,394 £ 1,250 Yorkshire Dance £ 5,807 £ 1,000 Totals 6,826,090 £ 880,523 £ 496,752 £ Total paid by Reed Foundation 1,377,275 £ Reconcilation to Charitable Donations in Statement of Financial Activities: Donation to individual 2,500 £ Total as per Statement of Financial Activities: 1,379,775 £	The Connection at St Martin's - helping homeless people in London £ 85,793 £ 12,500 The Diss Corn Hall Trust £ 7,636 £ 944 The Duke of Edinburgh's International Award Foundation £ 66,522 £ 4,923 The Eikon Charity £ 55,943 £ 5,000 THE ENVIRONMENT CENTRE £ 4,884 £ 1,000 The Golf Foundation £ 3,096 £ 415 The Hands Up Foundation £ 44,791 £ 7,500 The Include Project £ 22,087 £ 5,000 The Labour Behind The Label Trust £ 13,205 £ 1,500 The Michael Sobell Hospice Charity £ 23,165 £ 3,750 The Mulberry Centre £ 4,230 £ 902 The Multiple Sclerosis Therapy Centre (NW) £ 8,608 £ 1,875 The Neuromuscular Centre £ 16,515 £ 2,000 The Norden Farm Centre Trust Limited £ 12,796 £ 1,417 The Orchard Project £ 33,099 £ 5,000 The Orchard Trust £ 10,295 £ 2,000 The Passage £ 572,973 £ 25,000 The Prince's Trust £ 160,369 £ 20,000 THE RECRUITMENT JUNCTION £ 13,693 £ 2,000 The Royal Ballet School £ 46,239 £ 7,500 The Royal Central School of Speech and Drama £ 56,168 £ 7,500 The Royal Naval Benevolent Society for Officers £ 12,985 £ 2,000 The Shakespeare Hospice £ 13,201 £ 2,000 The Sustainable, Ecological And Economic Development Project (The SEED Project) £ 22,828 £ 2,500 The Welcome Centre (huddersfield) £ 27,560 £ 2,000 The Wiener Holocaust Library £ 34,229 £ 5,000 THEATR CLWYD TRUST LTD £ 8,846 £ 1,250 Theodora Children's Charity £ 65,204 £ 10,500 TimeNorfolk £ 7,013 £ 1,250 Tommy's £ 108,660 £ 20,000 Tom's Trust £ 11,563 £ 1,250 Transparency International (UK) £ 13,623 £ 2,000 Tree Sisters £ 48,132 £ 7,500 Tuberous Sclerosis Association £ 8,674 £ 1,500 TUSK TRUST LIMITED £ 50,838 £ 7,500 Ty Hafan £ 19,293 £ 2,500 Ulverston Ford Park Community Group £ 2,511 £ 79 UNICEF UK £ 52,408 £ 8,664 Upbeat Communities Ltd £ 22,068 £ 2,500 Voces Cantabiles Music £ 22,785 £ 2,500 WaterHarvest £ 22,668 £ 3,500 Watts Gallery Trust £ 56,069 £ 5,000 White Lodge Centre £ 36,946 £ 5,000 Whitley Fund for Nature £ 108,160 £ 12,500 Wicked Weather Watch £ 5,553 £ 1,375 Wild Futures £ 11,096 £ 1,250 Wildlife Vets International £ 33,764 £ 5,000 WISE CHILDREN LIMITED £ 15,073 £ 2,000 World Child Cancer UK £ 33,585 £ 5,000 XLP £ 40,874 £ 7,500 YES! Tanzania £ 5,394 £ 1,250 Yorkshire Dance £ 5,807 £ 1,000 Totals 6,826,090 £ 880,523 £ 496,752 £ Total paid by Reed Foundation 1,377,275 £ Reconcilation to Charitable Donations in Statement of Financial Activities: Donation to individual 2,500 £ Total as per Statement of Financial Activities: 1,379,775 £	The Connection at St Martin's - helping homeless people in London £ 85,793 £ 12,500 The Diss Corn Hall Trust £ 7,636 £ 944 The Duke of Edinburgh's International Award Foundation £ 66,522 £ 4,923 The Eikon Charity £ 55,943 £ 5,000 THE ENVIRONMENT CENTRE £ 4,884 £ 1,000 The Golf Foundation £ 3,096 £ 415 The Hands Up Foundation £ 44,791 £ 7,500 The Include Project £ 22,087 £ 5,000 The Labour Behind The Label Trust £ 13,205 £ 1,500 The Michael Sobell Hospice Charity £ 23,165 £ 3,750 The Mulberry Centre £ 4,230 £ 902 The Multiple Sclerosis Therapy Centre (NW) £ 8,608 £ 1,875 The Neuromuscular Centre £ 16,515 £ 2,000 The Norden Farm Centre Trust Limited £ 12,796 £ 1,417 The Orchard Project £ 33,099 £ 5,000 The Orchard Trust £ 10,295 £ 2,000 The Passage £ 572,973 £ 25,000 The Prince's Trust £ 160,369 £ 20,000 THE RECRUITMENT JUNCTION £ 13,693 £ 2,000 The Royal Ballet School £ 46,239 £ 7,500 The Royal Central School of Speech and Drama £ 56,168 £ 7,500 The Royal Naval Benevolent Society for Officers £ 12,985 £ 2,000 The Shakespeare Hospice £ 13,201 £ 2,000 The Sustainable, Ecological And Economic Development Project (The SEED Project) £ 22,828 £ 2,500 The Welcome Centre (huddersfield) £ 27,560 £ 2,000 The Wiener Holocaust Library £ 34,229 £ 5,000 THEATR CLWYD TRUST LTD £ 8,846 £ 1,250 Theodora Children's Charity £ 65,204 £ 10,500 TimeNorfolk £ 7,013 £ 1,250 Tommy's £ 108,660 £ 20,000 Tom's Trust £ 11,563 £ 1,250 Transparency International (UK) £ 13,623 £ 2,000 Tree Sisters £ 48,132 £ 7,500 Tuberous Sclerosis Association £ 8,674 £ 1,500 TUSK TRUST LIMITED £ 50,838 £ 7,500 Ty Hafan £ 19,293 £ 2,500 Ulverston Ford Park Community Group £ 2,511 £ 79 UNICEF UK £ 52,408 £ 8,664 Upbeat Communities Ltd £ 22,068 £ 2,500 Voces Cantabiles Music £ 22,785 £ 2,500 WaterHarvest £ 22,668 £ 3,500 Watts Gallery Trust £ 56,069 £ 5,000 White Lodge Centre £ 36,946 £ 5,000 Whitley Fund for Nature £ 108,160 £ 12,500 Wicked Weather Watch £ 5,553 £ 1,375 Wild Futures £ 11,096 £ 1,250 Wildlife Vets International £ 33,764 £ 5,000 WISE CHILDREN LIMITED £ 15,073 £ 2,000 World Child Cancer UK £ 33,585 £ 5,000 XLP £ 40,874 £ 7,500 YES! Tanzania £ 5,394 £ 1,250 Yorkshire Dance £ 5,807 £ 1,000 Totals 6,826,090 £ 880,523 £ 496,752 £ Total paid by Reed Foundation 1,377,275 £ Reconcilation to Charitable Donations in Statement of Financial Activities: Donation to individual 2,500 £ Total as per Statement of Financial Activities: 1,379,775 £
		1,377,275 £ 2,500 £
		1,379,775 £