2021-03-31-accounts - The Traidcraft Foundation

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		Page
Reference and administrative details
Trustees' report		2-7
Trustees' responsibilities statement
Independent auditor's report		9-12
Consolidated statement offinancial	activities	13
Consolidated balance sheet		14
Charity balance sheet		15
Consolidated statement ofcash flows		16
Notes to the financial statements		17-42

Trustees		Stephen Timms MP	Stephen Timms MP	(Chair)	(Chair)
		Rosemary	Kempsell
		David Nussbaum
		Rev Tariro	Matsveru	(appointed		18March 2021)
		Alison Inglis-Jones
		Jane Cotton (appointed 13March 2021)
		Jeremy Lefroy (appointed			18March 2021)
Charity registered
number		294953
Registered	office	Kingsway
		Team Valley Trading		Estate
		Gateshead
		NE11 ONE
Independent	auditor	UNW LLP
		Chartered	Accountants
		Citygate
		StJames'	Boulevard
		Newcastle	upon Tyne
		NE1 4JE
Bankers		HSBC Bank Pic
		110Grey Street
		Newcastle	upon Tyne
		NE1 6JG

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2021	2021	2021	2020
	Note	f.000	f000	f000	OOOO
Income from:
Donations and legacies		2,156		2,156	1,236
Charitable activities		186	1,483	1,669	1,854
Total income		2,342	1,483	3,825	3,090
Expenditure on:
Raising funds:
Other raising funds		953		953	679
Charitable activities:
Other charitable activities		1,050	1 333	2,383	2,697
Total expenditure		2,003	1333	3,336	3,376
Net movement in funds before other
recognised gains/(losses)		339	150	489	(286)
Other recognised gains/(losses):
Unrealised(losses)/gains		(59)		(59)	12
Net movement in funds		280	150	430	(274)
Reconciliation offunds:
Total funds brought forward		817	110	927	1,201
Net movement in funds		280	150	430	(274)
Total funds carried forward		1,097	260	1,357	927

				2021		2020
		Note		f000		f000
Fixed assets
Intangible assets		11		9		14
Tangible assets		12		34		47
				43		61
Current assets
Debtors			353		204
Cash at bank and	in hand		2,251		1,413
			2,604		1,617
Creditors: amounts	faIling due within one
year		15	(1,290)		(751)
Net current assets				1,314		866
Total assets less	current liabilities			1,357		927
Total net assets				1,357		927
Charity funds
Restricted funds		16		260		110
Unrestricted funds		16		1,097		817
Total funds				1,357		927

				2021		2020
		Note		f000		OOOO
Current assets
Cash at bank and	in hand
Creditors: amounts	faIling due within one
year			(2)		(2)
Net current assets
Total assets less	current liabilities
Total net assets
Total funds

						2021	2020
						f000	f000
Cash flows from operating		activities
Net cash used in operating	activities					906	(17)
Cash flows from investing		activities
Purchase oftangible fixed assets						(11)	(29)
Interest received						2	2
Net cash used in investing		activities				(9)	(27)
Change in cash and cash		equivalents		in	the year	897	(44)
Cash and cash equivalents		at the beginning			ofthe year	1,413	1,445
Change in cash and cash equivalents			due to exchange rate movements			(59)	12
Cash and cash equivalents		at the end		ofthe year		2,251	1,413

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	OOOO	f000	6000
Donations	1,873	1,873	1,008
Legacies	238	238	205
Grants from trusts and charities	45	45	23
	2,156	2,156	1,236

			Unrestricted	Restricted	Total
			funds	funds	funds
			2021	2021	2021
			OOOO	f000	f000
Grants from	institutional	sources		1,483	1,483
Consultancy	and other	income	186		186
			186	1,483	1,669
			Unrestricted	Restricted	Total
			funds	funds	funds
			2020	2020	2020
			F000	f000	f.000
Grants from	institutional	sources		1,691	1,691
Consultancy	and other	income	163		163
			163	1,691	1,854

End	ed 31 March 2021
		2021	2020
		f000	f000
Split	ofincome
UK		2,773	2,158
Rest	ofWorld	1,052	932
		3,825	3,090

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	f000	f000	OOOO
Travel and accommodation			2
Direct costs	148	148	105
Support costs (Note 8)	213	213	149
Direct salaries	272	272	240
	633	633	496

	Unrestricted	Total	Total
	funds	funds	funds
	2021	2021	2020
	f000	f000	f000
Travel and accommodation			3
Direct costs	141	141	5
Support costs (Note 8)	69	69	60
Direct salaries	110	110	115
	320	320	183

			Restricted	Unrestricted	Total
			funds	funds	funds
			2021	2021	2021
			f000	f000	f000
Development	Programmes
Direct salaries			337	455	792
Travel and accommodation			33	11	44
Direct programme		costs	815	174	989
Support costs	(Note 8)		31	107	138
			1,216	747	1,963
Policy Unit and Campaigning
Direct salaries			89	113	202
Travel and accommodation			1		1
Direct programme		costs	25	7	32
Support costs	(Note 8)		2	183	185
			117	303	420
			1,333	1,050	2,383
			Restricted	Unrestricted	Total
			funds	funds	funds
			2020	2020	2020
			f000	OOOO	f000
Development	Programmes
Direct salaries			401	382	783
Travel and accommodation			28	33	61
Direct programme		costs	1,018	199	1,217
Support costs	(Note 8)		104	45	149
			1,551	659	2,210
Policy Unit and		Campaigning
Direct salaries			96	72	168
Travel and accommodation			2	1	3
Direct programme		costs	30	16	46
Support costs	(Note 8)		4	266	270
			132	355	487
			1,683	1,014	2,697

				2021	2020
				f000	f000
Depreciation				22	15
Amortisation				5	8
Operating	leases			47	52
Unrealised	exchange	rate	losses/(gains)	59	(12)
Auditor's	remuneration			7	7

Support cos	ts
			Voluntary	Institutional	Development	Policy and
			income	sources	programmes	Campaigning	Total
			2021	2021	2021	2021	2021
			f000	f000	f000	f000	f000
Management	and	admin
salaries			141	46	91	121	399
Governance			11	4	7	10	32
Office services			36	12	24	32	104
Office machinery		and
consumables							22
Financial services							26
PR and comms							22
Total			213	69	138	185	605

			Voluntary	Institutional	Development	Policy and
			income	sources	programmes	Campaigning	Total
			2020	2020	2020	2020	2020
			f000	OOOO	OOOO	f000	OOOO
Management	and	admin
salaries			90	36	91	166	383
Governance			7	3	6	12	28
Office services			27	11	27	47	112
Office machinery		and
consumables			5		6	9	22
Financial services			13		13	23	54
PR and comms			7		7	13	30
Total			149	60	150	270	629

Staff costs
			2021	2020
			f000	f000
Salaries			981	924
Social security costs			92	88
Pension costs (excluding	contributions	to defined benefit scheme - FRS102)	69	63
Overseas salaries and staff costs			336	609
			1,478	1,684

			Group	Group
			2021	2020
			No.	No.
Development	programmes	and Policy Unit	40	40
Fundraising			10	10
Management	and administration		4	4
			54	54

Group	Group
2021	2020
No.	No.

11.	Intangible assets
	Group and charity
		ITsystems f000
	Cost
	At 1 April 2020	32
	At 31 March 2021	32
	Amortisation
	At 1 April 2020	18
	Charge for the year	6
	At 31 March 2021	23
	Net book value
	At 31 March 2021
	At 31 March 2020	14

	Furniture
	and
	equipment
	OOOO
Cost
At 1 April 2020	119
Additions	11
At 31 March 2021	130
Depreciation
At 1 April 2020	72
Charge for the year	24
At 31 March 2021	96
Net book value
At 31 March 2021	34
At 31 March 2020	47

			Group	Group
			2021	2020
			f000	f000
Amounts	owed by related parties		51
Other debtors			74	61
Prepayments		and accrued income	228	143
			353	204

			Group	Group	Charity	Charity
			2021	2020	2021	2020
			f,000	f000	OOOO	OOOO
Trade creditors				50
Amounts	owed to related parties			30
Other taxation and social security			31
Other creditors			3	9
Accruals	and deferred	income	1,235	662
			1,290	751
					Group	Group
					2021	2020
					f000	OOOO
Deferred	income at 1	April 2020			537	610
Deferred	during the year				1,568	1,336
Amounts	released				(988)	(1,409)
					1 117	537

						Balance at
	Balance at 1			Transfers	Gains/	31 March
	April 2020	Income	Expenditure	in/out	(Losses)	2021
	OOOO	f000	FOOO	FOOO	F000	FOOO
Unrestricted
funds
Designated
funds
Portfolio work				269		269
General funds
General funds	817	2,342	(2,003)	(269)	(59)	828
Total
Unrestricted
funds	817	2,342	(2,003)		(59)	1,097

Statement	offu	nds (continued)
							Balance at
		Balance at 1			Transfers	Gains/	31 March
		April 2020 f000	income f000	Expenditure f000	in/out f000	(Losses) f000	2021 f000
Restricted
funds
DEAR		(13)	93	(80)
Social Change		18	19	(26)			11
Khamatayan		(22)	242	(202)			18
Shamerto		(26)	1	25
JEWEL		(1)	7	(6)
Muktee		77	234	(230)			81
OAK		(2)	218	(137)			79
Homeworkers		(19)	209	(205)			(15)
Juice		(9)	51	(52)			(10)
Tanzania-
Disability main		10	139	(142)			7
Catalyst		95					95
Producer
support				(2)
PAPOWE
Supporting	tea
workers			77	(65)			12
C&A Textiles			51	(51)
Matrix fund			5				5
WEE			6	(7)			(1)
SAWA			108	(132)			(24)
Equalitea			21	(21)
		110	1,483	(1,333)			260
Total offunds		927	3,825	(3,336)		(59)	1,357

								Balance at
				Balance at			Gains/	31 March
				1 April 2019	Income	Expenditure	(Losses)	2020
				f000	f000	OOOO	f000	f000
Unrestricted	funds
General funds				1,097	1,399	(1,691)	12	817
								Balance at
				Balance at			Gains/	31 March
				1 April 2019	Income	Expenditure	(Losses)	2020
				f000	f000	f000	f000	OOOO
Restricted funds
DEAR					109	(122)		(13)
C&A Textiles					11	(11)
JRCT 8 Network		for	Social
Change					18			18
Khamatayan					346	(372)		(22)
Shamerto					108	(142)		(26)
JEWEL					20	(21)		(1)
EqualiTea CA					1	(1)
Muktee					337	(269)		77
TRAID					64	(64)
OAK					16	(18)		(2)
Going Green					10	(10)
Sust Cotton					10	(10)
Homeworkers					138	(157)		(19)
Tanzania - Disability					5	(5)
Juice					207	(216)		(9)
Tanzania - Disability			main	13	145	(148)		10
SAWA UKM					98	(98)
Catalyst				65	30			95
Pre-development/National
Lottery					18	(18)
Producer Support
				101	1,691	(1,682)		110
Total offunds				1,198	3,090	(3,373)	12	927

											Group	Group
											2021	2020
											f000	FOOO
	Net income/(expenditure) for Activities)				the	year	(as per		Statement	of Financial	489	(286)
	Adjustments	for:
	Depreciation	charges									30	22
	Decrease/(increase)		in	debtors							(149)	280
	Increase/(decrease)		in	creditors							538	(31)
	Interest received										(2)	(2)
	Net cash provided		by/(used		in) operating			activities			906
19.	Analysis of	cash and		cash equivalents
											Group	Group
											2021	2020
											f000	f000
	Cash in hand										2,251	1,413
	Total cash and cash			equivalents							2,251	1,413
20.	Analysis of	changes		in net debt

								Changes in
								market
								value and
								exchange
			At	1	April			rate	At 31 March
					2020	Cash	flows	movements	2021
							f000	f000	f000
					OOOO
Cash	in	hand			1,413		897	(59)	2,251
					1,413		897	(59)	2,251

Principal actuari	al assumptions at the balance sheet dat	e (expressed as weighted averages):
		At 31 March	At 31 March
		2021	2020
		'/o	'/o
Discount rate		1.95	2.30
Expected return	on scheme assets	2.25	2.00
Future salary increases		2.25	2.00
Future pension	increases	2.25	2.00

	At 31 March	At 31 March
	2021	2020
	Years	Years
Mortality rates (in years)
-for a male aged 65 now	21.3	21.3
-at 65for a male aged 45 now	22.3	22.3
-for a female aged 65 now	23.2	23.2
-at 65for afemale aged 45 now	24.4	244

The group's shar	e ofthe assets in the scheme was:
		At 31 INarch	At 31 March
		2021	2020
		OOOO	f000
Equities		309	217
Bonds		1,519	1,470
Other		13	40
Value recognised	limited under FRS102	(191)	(189)
Total fair value	ofassets	1,650	1,538

The	amount	s r	ecognise	d in the	Consolidated Statement of F	inancial Activities are as follows:
						2021	2020
						OOOO	f000
Net	interest	on	defined	benefit	asset		(4)

Movement	s in th	e present value ofthe defined benefit obliga	tion were as follows:
			2021	2020
			f000	f000
Opening	defined	benefit obligation	(1,538)	(1,611)
Interest cost			(35)	(37)
Benefits paid			59	46
Expenses			4	1
Actuarial	gain/(losses)		(140)	63
Closing	defined	benefit obligation	(1,650)	(1,538)

Movements in the	fair value oft	he group's share ofscheme as	sets were as follows:
			2021	2020
			f000	FOOO
Opening fair value	ofscheme assets		1,727	1,783
Interest income			39	41
Return on plan assets excluding		interest	138	(50)
Expenses			(4)	(1)
Benefits paid			(59)	(46)
Value recognised	limited under	FRS102	(191)	(189)
Closing fair value	ofscheme	assets	1,650	1,538

	2021	2020
	f000	f000
Present value of defined benefit obligations	(1,650)	(1,538)
Fair value of plan assets	1,650	1,538
Deficit in the scheme

under non-	can	cellable operating leases as follows:
			Group	Group
			2021	2020
			f000	OOOO
Not later than		1 year	36	41
Later than	1 year and not later than 5 years		32	12
			68	53

March 21	:
				2021	2020
				f000	f000
Traidcraft	pic
Purchase	ofgoods and	services (e.g. rent and building	costs)	30	14
Sale ofservices				177	24
Recharge	of redundancy	costs		(22)
Balances	due (to)/from	related parties at 31 March
Traidcraft	pic			51	(30)