Charity Registration No. 280281
THE EMMANUEL KAYE FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
THE EMMANUEL KAYE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs L N Kaye |
|---|---|
| Ms E M Kaye | |
| Mrs M A Hawes | |
| Mr A Sternberg | |
| Charity number | 280281 |
| Registered office | PO Box 1579 |
| Woking | |
| Surrey | |
| GU21 9DS | |
| Auditor | Azets Audit Services |
| Ashcombe Court | |
| Woolsack Way | |
| Godalming | |
| Surrey | |
| GU7 1LQ | |
| Bankers | Barclays Bank PLC |
| 1 Churchill Place | |
| London | |
| E14 5HP | |
| Investment advisors | Stanhope Capital |
| 35 Portman Square | |
| London | |
| W1H 6LR | |
| Killik & Co | |
| 46 Grosvenor Street | |
| Mayfair | |
| London | |
| W1K 3HN |
THE EMMANUEL KAYE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent auditor's report | 5 - 8 |
| Statement of financial activities | 9 - 10 |
| Balance sheet | 11 |
| Notes to the financial statements | 12 - 18 |
THE EMMANUEL KAYE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2021
The Trustees present their report and financial statements for the year ended 31 July 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with 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
The Foundation's aim is to benefit registered charities, charitable organisations and other charitable causes. It meets this objective by making grants and donations to charities and charitable causes at the Trustees’ discretion and in accordance with the Foundation’s established principles.
In achieving these objectives for the year, the strategy adopted by the Trustees was consistent with the principles on which the Foundation operates. Beneficiaries are selected from the social welfare, community development, education, arts and culture, healthcare and medical research and activities in North East Hampshire.
The Foundation’s main principles define that beneficiaries be a verifiable registered charity; priority is given to smaller charities without a national presence; and grants may cover core costs or specific project costs.
The strategy used in exercising these principles is based on Trustee sponsored propositions following detailed research which are submitted for consideration at regular quarterly Trustees’ meetings.
Both the Foundation’s objectives and its strategy were successfully conducted throughout the year.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and setting the grant making policy for the year.
Grant making policy
The Foundation does not accept unsolicited requests for grants or donations, focussing its support for registered charities principally, but not exclusively, where a relationship with Trustees has been established. All requests for grants or donations sponsored by a Trustee require approval at a formal Trustees’ meeting and must be consistent with the Foundation’s objectives. The Foundation strongly supports projects where a grant or donation can make a meaningful contribution to its aims.
Achievements and performance
An analysis of the Foundation’s activities during the year to fulfil its charitable purpose, consistent with its principles, included support analysed as between the following sectors:
| Sector | % |
|---|---|
| Social welfare | 35% |
| Community development | 13% |
| Education | 19% |
| Arts and culture | 4% |
| Healthcare and medical research | 21% |
| Activities in North-East Hampshire | 6% |
| Other | 2% |
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THE EMMANUEL KAYE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Financial review
The work of the Foundation is sustained by voluntary contributions, by income from investments and by reserves.
During the year ended 31 July 2021, the Foundation received income from investments amounting to £35,302 (2020 - £30,049) and income from donations of £508,246 (2020 - £940,240). It made donations of £606,000 (2020 - £724,000). Gains on investments of £565,542 (2020 - losses of £17,587) were recognised during the year. The Foundation reinvested its residual funds into income-generating investments and deposits, in order to successfully continue its objective of supporting charitable work in the future.
Funds at the end of the year were £4,933,811 (2020 - £4,474,568), of which £269,000 (2020 - £295,000) have been designated to cover multi-year grants awarded but not yet committed. The financial position at 31 July 2020 had been impacted by market conditions due to Covid-19 but the investment losses have reversed in the current financial year.
Reserves policy
The Trustees consider it essential to retain sufficient capital to ensure the future well-being of the Foundation and avoid a wind up of the Foundation should the capital be distributed. Following a review of the Reserves Policy the Trustees have agreed to maintain a reserve of at least £3 million for the time being, allowing donations to be made out of income and a proportion of realised and unrealised capital gains where the Trustees consider this appropriate. The Reserves Policy will be reviewed annually by the Trustees giving consideration to any changes in circumstances.
Fundraising Statement
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. Although we do not undertake fundraising from the general public, the legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes.’ Such amounts receivable are presented in our accounts as donations.
In relation to the above, we confirm that all solicitations are managed internally, without involvement of
commercial participators or external professional fundraisers, or third parties.
We have received no complaints in relation to fundraising activities. We require Trustees to behave reasonably at all times in their contact with donors. No-one should be pressured into donating, and we don’t contact anyone if we know they don’t want us to. We take our supporters’ requests and the protection of their personal data seriously. All of our supporters can choose to opt-out of our communications at any time, and we never swap or sell their data.
Investment policy
The Trustee’s policy is to invest in forms of investment to provide both income and long term capital gain. To this end the Trustees have transferred day to day responsibility for investment decisions to our Investment Advisors who will manage the Foundation’s investment policy on the broad principles agreed by the Trustees. These principles include seeking to primarily hold investments that integrate environmental, social and governance concerns, and, over time, to increasingly shift the balance of the portfolio to investments that actively contribute to or accelerate progress towards the UN’s Sustainable Development Goals.
The Trustees have assessed the major risks to which the Foundation is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future periods
The Board of Trustees has agreed to maintain the Foundation’s existing principles and objectives for the foreseeable future to ensure that its grants and donations are continuing to have a meaningful positive impact upon the activities of the beneficiary and, wherever possible, making a contribution to the general good.
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THE EMMANUEL KAYE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
Structure, governance and management
The Emmanuel Kaye Foundation (“the Charity” or “the Foundation”) was established by a Declaration of Trust on 1 May 1980.
The Trustees who served during the year and up to the date of signature of the financial statements were:
J H K Forster Mrs L N Kaye Ms E M Kaye Mrs M A Hawes Mr A Sternberg
(Deceased 21 February 2022)
The Declaration of Trust states that there must be more than two but not more than five trustees. The power of appointing new or additional trustees is vested in the Continuing Trustees. The existing Trustees are responsible for the induction of new trustees.
Day to day management of the Charity has been delegated to Mrs Madeleine A Hawes.
The Trustees continue to monitor the major risks to which the Charity is exposed, including those caused or exacerbated by Covid-19, and systems are in place to manage those risks. Internal risks are minimised by the implementation of procedures for authorisation of transactions of the Charity. External risks to funding are periodically reviewed to ensure acceptable risks and returns are being achieved.
The Foundation is run independently from any other charity or organisation.
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 and 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 Foundation and of the incoming resources and application of resources of the Foundation for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation 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 Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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THE EMMANUEL KAYE FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY2021 Sig edfora onbe all of the Board of Trustees A Stern rg Dat
THE EMMANUEL KAYE FOUNDATION
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE EMMANUEL KAYE FOUNDATION
Opinion
We have audited the financial statements of The Emmanuel Kaye Foundation (the ‘Foundation’) for the year ended 31 July 2021 which comprise the statement of financial activities, the balance sheet 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:
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give a true and fair view of the state of the charity’s affairs as at 31 July 2021 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 Foundation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 Foundation’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.
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 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.
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THE EMMANUEL KAYE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EMMANUEL KAYE FOUNDATION
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees' r eport; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the s tatement of trustees' r esponsibilities, 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 Foundation’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 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 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.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: http s :// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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THE EMMANUEL KAYE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EMMANUEL KAYE FOUNDATION
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
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Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
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Reviewing minutes of meetings of those charged with governance;
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Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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 auditors' 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 the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Southey (Senior Statutory Auditor) for and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor
6 May 2022 ......................... Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ
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THE EMMANUEL KAYE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EMMANUEL KAYE FOUNDATION
Azets Audit Services is eligible for appointment as auditor of the Foundation by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
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THE EMMANUEL KAYE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
| Current financial year Unrestricted Unrestricted funds funds general d esignated 2021 2021 Notes £ £ Income from: Do nations and legacies 3 508,246 - I nvestments 4 35,302 - Total income 543,548 - Expenditure on: Charitable activities 5 649,847 - Net gains/(losses) on investments 7 565,542 - Net incoming resources before transfers 459,243 - Gross transfers between funds 26,000 (26,000) Net movement in funds 485,243 (26,000) Fund balances at 1 August 2020 4,179,568 295,000 Fund balances at 31 July 2021 4,664,811 269,000 |
Total 2021 £ 508,246 35,302 543,548 649,847 565,542 459,243 - 459,243 4,474,568 4,933,811 |
Total 2020 £ 940,240 30,049 970,289 755,224 (17,587) 197,478 - 197,478 4,277,090 4,474,568 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE EMMANUEL KAYE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2021
Prior financial year
| Unrestricted Unrestricted funds funds general d esignated 2020 2020 Notes £ £ Income from: Do nations and legacies 3 940,240 - I nvestments 4 30,049 - Total income 970,289 - Expenditure on: Charitable activities 5 755,224 - Net gains/(losses) on investments 7 (17,587) - Net incoming resources before transfers 197,478 - Gross transfers between funds (41,000) 41,000 Net movement in funds 156,478 41,000 Fund balances at 1 August 2019 4,023,090 254,000 Fund balances at 31 July 2020 4,179,568 295,000 |
Total 2020 £ 940,240 30,049 970,289 755,224 (17,587) 197,478 - 197,478 4,277,090 4,474,568 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE EMMANUEL KAYE FOUNDATION BALANCE SHEET ASAT31 JULY2021 2021 2020 Notss Flxed as89ts Investments 4,420.676 3.558,326 CuThant assets Cash al bank and in hand 517.545 919,242 Cr8dltors: amounts falllng dug wlthln one y8ar 10 (4.410) {3,o¢Xs) Net current assets 513.135 916,242 Totsl as86t¥ le88 current Ilabllltles 4.933.811 4,474.568 Income funds Unr8slricl8d lunds- deggnated Unrestrlcted funds- general 269,000 4,664.811 295,000 4,179,568 4.933.811 4.474,568 Th finanGI rASiem st00 11
THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
Charity information
The Emmanuel Kaye Foundation is a registered charity in England and Wales. The registered charity number is 280281 and the registered office address is PO Box 1579, Woking, GU21 9DS.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Foundation'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)". The Foundation is a Public Benefit Entity as defined by FRS 102.
The Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the Foundation . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future and confirm that Covid-19 has not had a significant effect on the funds and operation of the charity . Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Funds held by the Foundation are unrestricted, general funds which can be used in accordance with the charitable objectives and reserves policy of the Foundation.
1.4 Income
All income is recognised once the Charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Investment income
Income arising from the investments and any related tax credit is accounted for in the period in which the income is receivable.
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
1 Accounting policies
(Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Each grant commitment is dependent on the satisfactory outcome of a review, which for most grants is carried out annually. Consequently, for multi-year grants where the next payment has been approved prior to the year end the grant is recognised as an expense and a liability in the financial statements. The balance of the potential grant commitments not provided for is disclosed as a contingent liability and identified as a designated fund. All expenditure in respect of achieving the aims of the Foundation, including donations and grants, is made at the Trustees discretion. Donations are accounted for when they are communicated to the recipient.
Support costs
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity.
1.6 Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
1.7 Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.
Basic financial liabilities
Other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest.
2 Critical accounting estimates and judgements
In the application of the Foundation’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 508,246 | 940,240 |
| Income from investments | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Investment income | 35,167 | 28,821 |
| Interest receivable | 135 | 1,228 |
| 35,302 | 30,049 |
4 Income from investments
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2021
5 Charitable activities
| Donations Support costs 2021 2021 £ £ Bank charges - 2 Auditors' remuneration - 3,570 Legal and professional fees - - Investment management fees - 30,216 Computer software licences - 259 Accountancy and bookkeeping services - 9,800 - 43,847 Grant funding of activities (see note 6) 606,000 - 606,000 43,847 |
Total Donations Support costs 2021 2020 2020 £ £ £ 2 - 13 3,570 - 3,078 - - 2,811 30,216 - 25,063 259 - 259 9,800 - - 43,847 - 31,224 606,000 724,000 - 649,847 724,000 31,224 |
Total 2020 £ 13 3,078 2,811 25,063 259 - 31,224 724,000 755,224 |
|---|---|---|
There were no employees during the year.
None of the Trustees received any remuneration during the year (2020 - £nil) nor were reimbursed any expenses during the year (2020 - £nil).
Auditors' remuneration includes fees payable to the charity's auditor for the audit of the charity's annual accounts. No non-audit services were provided.
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
6 Grants payable
| Donations | Donations | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Grants to institutions: | ||
| Parkinson's UK | 100,000 | 150,000 |
| Rosa Fund UK | 40,000 | 30,000 |
| City Harvest | 40,000 | - |
| Lyric Hammersmith | 32,000 | 32,000 |
| Lucy Faithfull Foundation | 30,000 | 30,000 |
| Hounslow Action For Youth Association | 30,000 | 30,000 |
| Pause | 30,000 | 30,000 |
| Sheffield Institute for Translational Neuroscience (SITraN) | 30,000 | - |
| Jewish Women's Aid | 25,000 | 25,000 |
| UK Music Masters | 25,000 | - |
| Human Trafficking Foundation | 25,000 | - |
| The Orpheus Centre | 25,000 | - |
| Donmar Warehouse | 20,000 | 20,000 |
| Rotary Club of Hart Trust Fund (Community Aid Scheme) | 20,000 | 10,000 |
| Safe Ground | 20,000 | 20,000 |
| Holloway United Therapy | 20,000 | - |
| Team Up | 15,000 | 15,000 |
| Seesaw Trusts | 15,000 | 15,000 |
| Helford River Children's Sailing Trust | 10,000 | 10,000 |
| The Matthew Elvidge Trust | 10,000 | 10,000 |
| The Winchfield Festival - David Kaye Music Award | 10,000 | 10,000 |
| Scottish Jewish Heritage Centre | 10,000 | - |
| Envision | 10,000 | - |
| The Winchfield Festival - Outreach Programme | 9,000 | 9,000 |
| The Oxford Playhouse Trust | 5,000 | - |
| The Wigmore Hall Trust | - | 20,000 |
| The Oxford Hub | - | 20,000 |
| Move into Wellbeing | - | 3,000 |
| London Music Masters | - | 25,000 |
| Grief Encounter | - | 10,000 |
| Prison Reform Trust | - | 10,000 |
| The Cure Parkinson's Trust | - | 5,000 |
| The Albert Kennedy Trust | - | 30,000 |
| Helen Bamber Foundation | - | 30,000 |
| TUHEDA (Tanzania UK Healthcare Diaspora Association) | - | 10,000 |
| Connection at St Martin-in-the-fields | - | 20,000 |
| Cardinal Hume Centre | - | 30,000 |
| AVA (Against Violence and Abuse) | - | 25,000 |
| Working Chance | - | 20,000 |
| Awards for Young Musicians | - | 20,000 |
| 606,000 | 724,000 |
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
7 Net gains/(losses) on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2021 | 2020 | |
| £ | £ | |
| Revaluation of investments | 313,296 | (157,059) |
| Gain/(loss) on sale of investments | 252,246 | 139,472 |
| 565,542 | (17,587) |
8 Fixed asset investments
| Cost or valuation At 1 August 2020 Additions Valuation changes Disposals At 31 July 2021 Carrying amount At 31 July 2021 At 31 July 2020 9 Financial instruments Carrying amount of financial assets Instruments measured at fair value through profit or loss 10 Creditors: amounts falling due within one year Accruals and deferred income |
Listed investments £ 3,558,326 2,851,614 313,296 (2,302,560) 4,420,676 4,420,676 3,558,326 2021 2020 £ £ 4,420,676 3,558,326 2021 2020 £ £ 4,410 3,000 |
|---|---|
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THE EMMANUEL KAYE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2021
| 11 Analysis of net assets between funds Unrestricted funds Designated funds 2021 2021 £ £ Fund balances at 31 July 2021 are represented by: Investments 4,420,676 - Current assets/ (liabilities) 244,135 269,000 4,664,811 269,000 |
TotalUnrestricted funds Designated funds 2021 2020 2020 £ £ £ 4,420,676 3,558,326 - 513,135 621,242 295,000 4,933,811 4,179,568 295,000 |
Total 2020 £ 3,558,326 916,242 4,474,568 |
|---|---|---|
12 Financial commitments, guarantees and contingent liabilities
The charity recognises grant commitments made but not yet settled or provided for as contingent liabilities. These have not been accrued as performance related conditions have not yet been met. These commitments are expected to be settled within 1-2 years and will be funded from unrestricted reserves.
As at 31 July 2021, the value of contingent liabilities in respect of such commitments amounted to £269,000 (2020 - £295,000).
13 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
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