THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 15 MARCH 2021
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## CHARITY INFORMATION
Administrator: R W Murfin TD DL The Clerk to the Worshipful Company of Pattenmakers
Correspondence address: 3 The High Street Sutton Valence Kent ME17 3AG
Honorary Treasurer: S Etheridge The Paddock Ringstead Road Great Addington Kettering Northamptonshire NN14 4BW
Independent Examiner: M Wilkes FCA Azets Audit Services Globe House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN
Bankers: HSBC Bank Plc
Investment advisers and stockbrokers: Killik & Co LLP 46 Grosvenor Street London W1K 3HN
Charity Commission registered number: 286312
1
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
## REPORT OF THE TRUSTEES
The trustees present their report and financial statements of the charity for the year ended 15 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in 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 published in October 2019.
## TRUSTEES
During the year under review, the trustees were as follows:
J A Bryant-Pearson (Master) S A Leijten (Upper Warden) P J Tyrrell (Renter Warden) A M Haywood (Warden to the Trade)(resigned 08.10.20.) M J Pickard (Warden to the Trade)(appointed 08.10.20.) T E Watts (resigned 08.10.20.) H R Auty S H Lamb Sir W J A Timpson CBE R L Page S J Goodman C M Hayward N C G Andrews
M Kemsley R A Kottler J A C C Watson-Gandy D P Best S A C Huxham A S Lyons K D F Bottomley S Etheridge J Wilson A M Haywood (appointed 07.01.21.) R A Scarr-Hall (appointed 07.01.21.) D B Emanuel (appointed 17.03.21.) M J Heffer (appointed 17.03.21.)
## REVIEW OF THE CHARITY'S ACTIVITIES, OBJECTIVES AND POLICIES
The trustees have developed charity policies based on the charity's objects, which are regularly reviewed (the results of the last major review being approved in March 2017). The policies define generic methods of fundraising, specific areas of grant aid, financial control mechanisms and other matters. They meet the requirements of the Charities Act 2011, and in particular the need to ensure public benefit.
## Income generation
The charity's income is sourced through the following means:
- a) from members of the livery company, who are invited to make voluntary annual donations, under the Gift Aid scheme where applicable;
- b) through other donations, sponsorships and legacies, from both livery company members and others;
- c) by specific fundraising initiatives, one-off and regular annual events, which in recent years have included the London Marathon and Livery Halls walk;
- d) interest and investment gains.
2
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
REPORT OF THE TRUSTEES (cont/d)
## REVIEW OF THE CHARITY'S ACTIVITIES, OBJECTIVES AND POLICIES (cont/d)
## Charitable donations
The trustees approve an annual budget for its commitment to making charitable donations.
The primary focus of the charity's support has been and remains related to the livery company's historic foundations of footwear. With the fall into disuse of pattens, the charity has for many years chosen to make the provision of orthopaedic footwear its core area of charitable donations. It funds both the provision of orthopaedic footwear to needy individuals, particularly those in the UK's armed forces who have been injured in conflict, and also the training of students in this discipline. In relation to the armed forces, the charity has developed a strong working relationship with the Defence and National Rehabilitation Centre.
During the year under review The John Foxon Pattenmakers Apprentice Scheme continued to assist the training of apprentices in the manufacture of orthopaedic footwear.
In its support of education, further bursaries are awarded to students at the City of London Boys' and Girls' Schools and at the Guildhall School of Music and Drama. There are several other regular donations, both educational and otherwise given within the City of London, the largest of which funds a chorister at St Paul's Cathedral School. Amongst the other City of London donations are support for the Lord Mayor's charities, the Guildhall Library and the Sheriffs' and Recorder's Fund.
In fulfilment of the charity's purpose to advance religion, donations are regularly given to support the ministry, fabric and functioning of St Margaret Pattens Church, the spiritual home of the livery company for several centuries, and the only church in the City of London with a specific livery dedication in its name.
The fourth important sector of the charity's giving is support for the UK's armed forces. Regular donations are also given to personnel involved with the Kent Army Cadet Force and HMS Chiddingfold.
Finally, a small number of other donations are given from time to time, with individual hardship being a key consideration. Examples are the Young Homeless Charity of St Mary-le-Bow in the City of London and the Royal British Legion.
Support for those in hardship and for young people are threads running through all categories of the charity's support. The charity makes a number of individual awards to young people, including an annual Young Managers Award which has hitherto been focused upon encouraging development in the footwear trade and the facilities management profession.
In all cases of giving, the charity seeks opportunities whereby the livery company can build a relationship with the beneficiary, so that the support is not purely financial. The trustees aim to continue increasing the donation budget year on year, for so long as fund growth continues to provide the opportunity to do so.
A list of the specific donations awarded to institutional beneficiaries is given in note 3 to the accounts.
## PUBLIC BENEFIT STATEMENT
The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives, and in the planning of future activities, and are satisfied that the requirements are fulfilled.
3
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
REPORT OF THE TRUSTEES (cont/d)
## ACHIEVEMENTS AND PERFORMANCE
During the year under review, the income from gifts and investments was at an increased level compared to the previous year. Due to the COVID-19 pandemic restrictions imposed during the year, both the main fundraising events, the London Marathon and the Livery Halls walk were cancelled. Consequently, income generated from charitable activities, net of costs of raising funds, decreased to £3,685, a reduction of 90% compared with the previous year. There was a reduction of 26.1% in grants and other charitable expenditure.
## REVIEW OF THE CHARITY'S FINANCIAL RESULTS FOR THE YEAR
Total income decreased by 1.8% to £99,631 (2020 - £101,454), and the total of grants awarded decreased by 26.1% to £55,022 (2020 - £74,417). Hence the total expenditure consequently reduced by 23.6% to £69,385 (2020 - £90,778). As a result of these variances, and before investment adjustments, there was net income for the year of £30,246 (2020 - £10,676). After realised gains on investments, the net income for the year was £69,609 (2020 - £53,610).
## RESERVES AND RESERVES POLICY
The trustees have reviewed the reserves of the charity against the background of continuing support for beneficiaries in difficult circumstances, maximising charitable impact and striking a balance between building a long-term investment fund and meeting short-term charitable expenditure.
The reserves policy is to hold an unrestricted general fund of not less than £200,000 (2020 - £200,000) to meet short-term expenditure and an investment fund of £1,250,000 (2020 - £1,250,000) to generate income and provide stability to the charity’s future programme of grants and donations. The closing unrestricted reserves of £1,647,978 (2020 - £1,273,660) and restricted reserves of £36,364 (2020 - £23,239) are in line with the policy objective.
## GOING CONCERN
The trustees have considered whether it is appropriate to prepare the charity’s accounts on a going concern basis. In doing so they have considered:
- a) the assets of the charity;
- b) the discretionary nature of the grants awarded, and the prudent nature of the commitments given by the charity to the beneficiaries it supports.
The trustees of the charity, have a reasonable expectation that the charity will be able to continue in operation and meet its liabilities as they fall due. In the opinion of the trustees it is appropriate to prepare the charity’s accounts for the year ended 15 March 2021 on a going concern basis. They have identified no material uncertainties to the charity’s ability to continue to do so over a period of at least twelve months from the date of approval of the financial statements.
4
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
REPORT OF THE TRUSTEES (cont/d)
## RISK MANAGEMENT
The trustees actively review the strategic business and operational risks to which the charity is exposed and regular reporting procedures enable them to take all necessary steps to lessen any risk to the charity. The trustees have appointed investment managers, and investments are reviewed at regular meetings of an investment committee comprising a number of experienced trustees and members of the livery company's Honorary Court, which reviews their recommendations and oversees their performance.
## PLANS FOR FUTURE PERIODS
The uncertainty caused by the COVID-19 pandemic restrictions mean that it is difficult to plan larger fund raising events with confidence; nevertheless, the trustees will seek to maintain the same level of support for causes as in the previous year.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
The Pattenmakers Company Charitable Foundation was set up on 12 January 1983 under a Deed of Trust. Its objects are the advancement of education, the relief of poverty, the advancement of religion and any other charitable purposes beneficial to the community.
The trustee of the charity is The Worshipful Company of Pattenmakers, although by virtue of s177 Charities Act 2011 the trustees are regarded as the individual members of the Court of that Company as they are the persons having the general control and management of the administration of the charity. The Worshipful Company of Pattenmakers is a City of London Livery Company, which was incorporated by Royal Charter in 1670. In exercising their responsibilities, the trustees are assisted by a charity committee comprising some trustees and some additional members of the livery company.
The members of the Court of the Worshipful Company of Pattenmakers are selected for their skill and experience.
## STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the charities SORP 2019 (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- - 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
5
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION Charity Commission registered number: 286312
REPORT OF THE TRUSTEES (cont/d)
## CHANGE OF NAME OF INDEPENDENT EXAMINER
On 7 September 2020 Group Audit Services Limited trading as Wilkins Kennedy Audit Services changed its name to Azets Audit Services Limited. The name they practice under is Azets Audit Services and accordingly they have signed their report in their new name.
This report was approved by the trustees on 2 December 2021 and signed on their behalf.
P J Tyrrell Renter Warden 2020-21
6
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
I report to the charity trustees on my examination of the accounts of the charity for the year ended 15 March 2021, which are set out on pages 8 to 16.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M Wilkes FCA Azets Audit Services Accountants
Globe House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN
14 December 2021
7
## THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES Year ended 15 March 2021
|Notes
INCOME FROM
Gifts (donations and related gift aid recovery)
Charitable activities
Investments
2
TOTAL INCOME
EXPENDITURE ON
Raising funds
Charitable activities
3
Other costs
4
TOTAL EXPENDITURE
NET INCOME BEFORE RECOGNISED GAINS
Gains/(losses) on investments
NET MOVEMENT OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|Unrestricted
funds
£
31,841
4,715
42,949
79,505
1,031
48,022
13,332
62,385
17,120
357,198
374,318
1,273,660
£1,647,978|Restricted
funds
£
20,125
-
-
20,125
-
7,000
-
7,000
13,125
-
13,125
23,239
£36,364|Total
2021
£
51,966
4,715
42,949
99,630
1,031
55,022
13,332
69,385
30,245
357,198
387,443
1,296,899
£1,684,342|Unrestricted
funds
£
22,021
39,824
39,109
100,954
3,318
64,505
13,043
80,866
20,088
(157,822)
(137,734)
1,411,394
£1,273,660|Restricted
funds
£
500
-
-
500
-
9,912
-
9,912
(9,412)
-
(9,412)
32,651
£23,239|Total
2020
£
22,521
39,824
39,109|
|---|---|---|---|---|---|---|
|||||||101,454|
|||||||3,318
74,417
13,043|
|||||||90,778|
|||||||10,676
(157,822)|
|||||||(147,146)
1,444,045|
|||||||£1,296,899|
All income and expenditure derive from continuing activities
8
## THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
BALANCE SHEET 15 March 2021
|Notes
FIXED ASSETS
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS - amounts falling due
within one year
10
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds
Revaluation reserve (unrestricted
funds)
TOTAL UNRESTRICTED FUNDS
12
Restricted funds
12
TOTAL CHARITY FUNDS
12|£
25,622
80,898|2021
£
1,582,902
101,440
£1,684,342
1,161,692
486,286
1,647,978
36,364
£1,684,342|£
6,449
66,240|2020
£
1,228,123
68,776|
|---|---|---|---|---|
||106,520
5,080||72,689
3,913||
||||||
|||||£1,296,899|
|||||1,104,777
168,883|
|||||1,273,660
23,239|
|||||£1,296,899|
Approved by the trustees on 2 December 2021
P J Tyrrell Renter Warden 2020-21
9
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS Year ended 15 March 2021
## 1 ACCOUNTING POLICIES
General information and basis of preparation:
The Pattenmakers Company Charitable Foundation is a charity registered with the Charity Commission in England and Wales. The correspondence address is given on page 1 of these financial statements. The nature of the charity’s operations and principal activities are the advancement of education, the relief of poverty, the advancement of religion and any other charitable purposes beneficial to the community.
The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice.
The Pattenmakers Company Charitable Foundation meets the definition of a public benefit entity under SORP 2019. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling, which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.
## Funds:
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Income recognition:
## General income
Income is credited in the statement of financial activities on the basis of actual receipts, except as stated below.
## Investment income
This is accounted for on an accruals basis but income tax recoverable thereon is accrued for the year ended 5 April 2021.
10
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
- 1 ACCOUNTING POLICIES (cont/d)
Income recognition (cont/d):
## Donations under Gift Aid
During the year income tax was recovered from gift aid on donations and deductions from investment income. A debtor has been included in these accounts in respect of amounts due at the end of the year and reclaimed subsequently.
Expenditure recognition:
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings:
- Costs of raising funds
- Expenditure on charitable activities
- Other expenditure
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grant expenditure is recognised when awarded to the recipient. The expense is included on an accruals basis in the year in which a legal or constructive obligation to pay the grant arises.
## Support costs allocation:
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
## Exchange differences:
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
## Investments:
Investments are recorded initially at fair value, which is normally the transaction price including transaction costs. Subsequently they are measured at fair value, with changes recognised as unrealised gains and losses arising on investments in the statement of financial activities, and credited or charged to general funds. Realised gains and losses on investments are shown in the statement of financial activities.
Fair value for the purposes of the accounts is based on a portfolio valuation dated 31 March 2021, prepared by the stockbrokers Killik & Co LLP.
11
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
- 1 ACCOUNTING POLICIES (cont/d)
Debtors and creditors receivable/payable within one year:
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash and cash equivalents:
Cash and cash equivalents include deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
## Taxation:
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010.
## Going concern:
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Judgements and key sources of estimation uncertainty:
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
No judgements or key assumptions were made in the preparation of the accounts.
|2
INVESTMENT INCOME
Income from listed investments (note 8)
Interest receivable
Income tax recoverable|2021
£
42,536
74
339
£42,949|2020
£
38,444
331
334|
|---|---|---|
|||£39,109|
Income from investments is wholly attributable to unrestricted funds.
12
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
|3
ANALYSIS OF CHARITABLE DONATIONS
Donations to individuals
Donations to institutions|2021
£
11,067
43,955
£55,022|2020
£
24,395
50,022|
|---|---|---|
|||£74,417|
£7,000 (2020 - £9,912) of donations paid to individuals were attributable to restricted funds. All other amounts payable were attributable to unrestricted funds. There were 11 donations to individuals during the year (2020 - 36).
|St Margaret Pattens Church
City of London School
City of London School for Girls
Ashmead Primary School - books
De Montfort University
Guildhall School of Music and Drama
Kent Army Cadet Force
St Paul's Cathedral Chorister Trust
Livery careers event attendance
Livery Companies Skills Council membership
Livery schools Link
Livery Schools Link - digital divide campaign
HMS Chiddingfold
Trial & Error Events - sponsorship of vignette
The Guildhall School Trust - hardship fund
Ironbridge Gorge Museum Trust
Royal British Legion
Shoe hardship fund
St Mary-le-Bow Young Homeless Charity
United Guilds' Service Trust
Guildhall Library
Lord Mayor's Appeal
Sheriffs' and Recorder's fund
Footwear Friends
4
OTHER COSTS (SUPPORT COSTS)
Governance (note 5)
Other
Recipients of donations to institutions:|8,000
6,313
12,717
-
500
2,000
-
7,000
-
-
125
3,000
250
-
-
-
250
500
500
-
300
500
500
1,500
£43,955
13,304
28
£13,332|15,500
6,198
12,356
473
500
2,000
500
7,000
545
100
125
-
250
200
300
250
250
500
500
175
300
500
500
1,000|
|---|---|---|
|||£50,022|
|||13,027
16|
|||£13,043|
Other costs (support costs) are wholly attributable to unrestricted funds.
13
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
## 5 GOVERNANCE COSTS
|Administrator's fee
Financial controller's fees
Independent examiner
Stockbroker|7,529
2,476
1,710
1,589
£13,304|7,310
2,406
1,674
1,637|
|---|---|---|
|||£13,027|
## 6 TRUSTEES AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
Except as disclosed in note 14, the trustees neither received nor waived any remuneration or expenses during the year (2020 - £Nil).
## 7 EMPLOYEES
There were no employees during the year (2020 - None).
## 8 INVESTMENTS
|INVESTMENTS||||
|---|---|---|---|
|Valuation:
At 1 April 2020
Additions
Disposals
Revaluation
At 31 March 2021
Investment income therefrom|Fixed
interest
stocks
£
23,832
-
-
3,946
£27,778
£1,300|Equities
£
1,204,291
248,335
(210,960)
313,458
£1,555,124
£41,236|Total
£
1,228,123
248,335
(210,960)
317,404|
||||£1,582,902|
||||£42,536|
All fixed asset investments are listed investments and are valued by Killik & Co LLP, the stockbrokers at 31 March 2021. The historical cost of fixed asset investments is £1,096,616 (2020 - £1,059,240). It is the opinion of the trustees that the costs outweigh the financial benefits of re-valuing the investment portfolio to 15 March values, subject to adjustment for material valuation movements should these be advised by the Investment Manager in the period between the balance sheet date and the portfolio valuation date.
Investments representing more than 5% of the portfolio's value were:
## Equities
|Accenture
class 'a' $0.0000225 shares
Finsbury Growth & Income Trust
ordinary 25p shares
Taiwan Semiconductor Manufacturing ordinary shares|£80,155
£90,079
£107,247|
|---|---|
14
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
|9
DEBTORS
Accrued income
Gift aid and income tax recoverable
Killik & Co LLP
Prepayments
10
CREDITORS - amounts falling due within one year
Accruals
Deferred income (note 11)|2021
£
-
8,806
11,956
4,860
£25,622
3,515
1,565
£5,080|2020
£
136
3,420
913
1,980|
|---|---|---|
|||£6,449|
|||3,019
894|
|||£3,913|
## 11 DEFERRED INCOME
Deferred income relates to sponsorship received in advance in respect of a charitable activity which takes place after the year end.
## 12 FUND RECONCILIATION
|FUND RECONCILIATION|||||
|---|---|---|---|---|
|Unrestricted funds
Restricted funds
The John Foxon Pattenmakers
Apprentice Scheme
Young Managers' footwear awards
Unrestricted funds
Restricted funds
The John Foxon Pattenmakers
Apprentice Scheme
Young Managers' footwear awards|16.03.20.
£
1,273,660
23,138
101
£1,296,899
16.03.19.
£
1,411,394
32,151
500
£1,444,045|Income
£
436,703
20,000
125
£456,828
Income
£
143,888
-
500
£144,388|Expenditure
£
62,385
7,000
-
£69,385
Expenditure
£
281,622
9,013
899
£291,534|15.03.21.
£
1,647,978
36,138
226|
|||||£1,684,342|
|||||15.03.20.
£
1,273,660
23,138
101|
|||||£1,296,899|
The John Foxon Pattenmakers Apprentice Scheme was created to assist with the training of apprentices in the manufacture of orthopaedic footwear.
The Young Managers' footwear awards donation was made to fund an award to a second winner.
15
THE PATTENMAKERS COMPANY CHARITABLE FOUNDATION
## NOTES TO THE ACCOUNTS
Year ended 15 March 2021
## 13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
|13
ANALYSIS OF NET ASSETS BETWEEN FUNDS||
|---|---|
|Unrestricted
Restricted
funds
funds
£
£
At 15 March 2021
Fixed assets
1,582,902
-
Cash
44,534
36,364
Other current assets/liabilities
20,542
-
£1,647,978
£36,364
At 15 March 2020
Fixed assets
1,228,123
-
Cash
43,001
23,239
Other current assets/liabilities
2,536
-
£1,273,660
£23,239
14
RELATED PARTY TRANSACTIONS
2021
£
Trustee - A M Haywood
Paice Memorial Bursary administrator's fee
-
Reimbursement of course fees paid on behalf of Young Managers'
footwear award scheme winners
£1,159
There were no amounts outstanding at the year end.
During the year under review there were related party transactions as follows:|Total
£
1,582,902
80,898
20,542|
||£1,684,342|
||1,228,123
66,240
2,536|
||£1,296,899|
||2020
£
£250|
||£1,730|
|||
16