BFWG Charitable Foundatlon (A Limiied Company) Trading as FtWG - Funds for Women Graduates Company No. 206171 Charfty No. 312903 Report and flnancial statements For the year ended 31 December 2020
BFWG Charltabl• Foundatlon R•port and flnanclal 8tatsmants For tho y•ar •nd•d 31 D•c•mb•r 2020 Contents Pago R•forenc• and admlnl•tradv• Inforniatlon Tn*t••8' annual r•port Ind•p•nd•nt audltorn. r•port 8tat•m•nt of flnanclal acllvttl•• (Incorporatlng an InconK• and expendlture account) 10 Balanc• •he•t 11 8taloffl•nt of cuh flow• 12 Not•8 to th• Ilnanclal •tatom•nt• 13.18
BFWG Charltablo Foundatlon Mr J. Bear(InMYe. BSC. FIA Chwman kn 31 Juty 2020 P(ofe550r J. HarL BS¢, PhD Chair from 1 AU$l 2020 M8 A Alshwf, BDS 1986. FDSRCS. MFGI)P Appow)l•J 1 Augu512020 Profes1 C. Burek. PhD Resigned 31 Juty 2020 Prof•88or C. Caff, PP s A. Fro81. &4 {Fkn8). M8Jasmil Kaur Phull. JP., Bsc.. BMS Mr W.S. Tulty, MA, ACA Dr R. Un8WOrth IA4. Pho M8 A. vid LLe IH(Th). 8.E¢ P. WeN•8£de. (Oxon) Rwn&J 31 Juty 2020 'nted 1 AU812020 R•s•Jned 31 JUPY 2020 Salty tY(xvell FCCA Compffiy numb•r. X6171 312903 57 Akna Rogd 2AH GOI44n$ Lirnied 75 Maywove R ¥¥¢ Hnpslth•J 2EO HSBC PLC 21 High Stro01 Puknrough t Sussex RFQO 4DR 8 Ftsury Lormlon EC21A 7AZ
To tho momborn ofth• BFWG Charltable Foundalk For th• Th¢ tru$teo9, IA1 al80 (thfeL(¥5 undw c(xwiy Iw. wesenl thew rewt WKI fmancial 8tem&8 fty ¢he year ended 31 2020. The tntslees confirm that the slatemerts compty wlh cwrent stalulory rwirenKint$. tho rrm1or8ndn and artic of association the Statement of RecLVm)etyJed Prxtic• . Accounling aThl Rwjrting ty Charrtw". SORP to charitie8 kw)aring their accounts in accordan¢o wlh FRS 102. ObJoctlvM and acllvltlo• The alm ol the Chwitabkn F¢)undth kn to W) rea1180 thek xademk ambitky)8 01 hlgh•r educalon by awardvvj grarts lo h with eypen1 whlsl they purgue ihelr 8tudi•8. Succ•ufvl applkanls aro Ih08e t) ated crerig 8ThJ fty vthcffi Iho eharty has Sufficlont fljI. Tho uiterla include 881161rIa needs ofthe applicarts and thelr a¢•dOm calibre. b•n•fft Tho chafoble pu08• 01 ts Chari14)l• Ftjundalion ig the ad¥8n¢•m•nl d education. The bener offered by the charity 18 a financ one and is lo help Thith mJit•nance co818 whilst the recipient 1$ $ty1n9. W¢xnen from ffjry¥here Ni w(kl nw appty to the chartty frxfmancial 8ssistal pTowded tlw or• 81udylng h Gr¥t Br•h. The tru8tee8 h8ve comthd wh the in 8.17 01 the chArlI 2011 to h•v• (kn regard to guldance published by the Charity Co¥nmis8ion. arwit m•k The charty m8kes grnnls lo indr¥i(luab. A grant is awarfed ag a contritsrtion toward$ liv#)g •xpens to Ptyrau•1e •ng•9 in StJ1e$ al apwoved irnlilu1s in Great &ita¥i. Tha chwty'¥ moin ndatIon granls wg m•le lor tho %aden year to come thilst the emerger gr8nl$ aro to h Ihc4o uThfrxe fvHnLyoI difftuKs n Ilw ¢Uffent acodgmk yoar. Theodora Bos8nquot 8urswies we offered to wrmon graduates wh)5e research in history or English liler8tum r•qt4res a SI% resid+ in Lond{ in Ihe summer. One fellow4hip. Ihe FIWG FellNship. Is offered via Gra(hte Wcmen lrternolwal {GWI) a Iiiennial ba$i5. The ueria for awarding are the pro¥en needs olih appkants and theracademic calibre. The omowrt of avalablè lor is Ivnitod so r¢ all qualfyiry applraNs can r•c•rn a gwt.
Tntstee8' Report To the membern ofthe BFWG Charitsble Foundation For the year ended 31 December 2020 The exiteria forawardlng grants are the proven needs of the applicants and 1r academic calibre. The amount of money available for grants is lThled so rnt all qualfying appiwts receive a grant Aehlevoments and p•rf0mne0 The chwity has C0ntirKd to support wfftn seek to •Jvance Iheir all)n and to pronKts higher educati a)d wider leamry. App1kali6 ftjr financial assistan ¢rTh? from wcxnen from al (Yrfer the worhj and from drfferent bad(grounds. Ther need for finaroal support rxses from serAxs famiPrf mlical woNems. abuse. parents r#X ab io contnue with supwt arnl wesswes - the 1st is varied and long. The detemiinalion ofthese to cgxnplete ther is exefflplary arKI inspwirwj. The charty is to have been able Io SUFWt the women ty ratdmg grants to help with maintenaKe costs. )vemors have been extrem8ty (x)ncemed of the effed of pandemic on the econom ¢lrcJJmst of m)y W¢ pjsigaduates arnl ther abih'ty to complete their stthlies on a timety basis. In response. the Board apwoved a on&off wKrease to the effrgew grants budget to provide additional support towomen whose Inre and stlIeS hal been affected by Ihe Cthiid pandemic. The total value of the maAI gIts awarde¢J in ttle year was £183,120 {2019: £179,570) and the total value of the grants was £74,565 (2019: £58.890). cunlab've grants avarded during the chanty's existence now exceed £3.0¢J),c. 1j the year, the Charty recerled 227 applicalions for main gr and m•Je 36 thvards. tt recehryd 178 applicat•)ns for elljerry gMts and avarded grants to 33 woman. In'nomwl. years, two Tlwdcn 8oswNuet Bursaries we warded to women whose fesearch in history ¢x Ewlish Ilterature requires a short reshJence in London in ttle surnv. Whilst these were awarded in 2020. they not be taken up due to govwnment restrickn associated with the Pandern. As a ult. one was convérted lo an ward and the other held (P lo 2121. In addition to the grants descriw atove the FI Felowship {previousty krbown as the Crosby Hall Fdlowshlp) is managed by GTrJuate InternaticrfI and sponsored by the charity. The Fellowshlp 18 rrfxffoly triennial a value of £8.CW. It was last offered 2019 to the centenary of Gradu Ilbmen Intnal. Each year at the Fetruw Bowd the Tnjstees detennine Ihe level of grants awarded based on the Grant Policy. In a nonnal year grant knls increase in Irle with CPI. The quantum of funds available to distribute as grwts in any year 15 detern)rd ty a corrknaticffl of incoff 9enerated by the portfolio as well as the ¢ushkn of c•tal ga'ns ffode on investrne. Flnanclal rnvlew The thwty's eXture exceeded by £185,307 {201>. £114.854) tsefo a gan of £265,543 on inveslmont (2019 a gn of £891.449). Trt charivs Th47in source of income is income from Investments: wwitabty lIluate5 a5 the market fluchmtes. The trustee$ rtnItOr pothlio performance aTrJ ensure Ihat Ihe oryanisat)n has eqUa cash reser5 to cover any short.
Tru•to•9' R•port To th• mombern oftho BFWG Charltable Foundatlon For th• aar Ondod 31 Docombor 2020 R•g•rv80 polky The charity 18St MfjevKd its reserves poticy in 2019. As a resdl. it is the polcy ol the chwity lo hold funds. all ofwhich We unrestricted, al a levd th is adequate to. 81 least mainlein the level of its awards in real tem and lo cover man89gmert •Jmiii$lrative WKI support costs lor a one•tYear peiiod. Inasmuch as the allx8tion of funds depends on the fin8rKlal poh'cy of the charity it is inportort Ihat sufficlent fi8bilIty be Incorporated Into grants 8IIoe8llon policy so that the board of Iru$tee$ ¢an read appropriately according lo the finaneial Circurnslances. Tli$ enables current activities to continue in the short tem) should investment inecthe drop signrfKanlty. The trustees were able lo mantain the deslred level of reseNes during the year undèr revk8W. The trustees have a58essed the major strategic. business and operational risks to whrch the charity is exposed and are satisfied that sy$l¢ms are in place to n1ThSe the effects d $u¢h risks. Plan8 forth•futsr• The thwity isdevetoplng its syslemg infroslru¢turo to uryjrove grant 8ppIic8tbn process. The ¢harify awns togrow its capital base so that morewomen graduates rKelvefinanaal he nowand in Ihefuture. StructsN governance and management BFW3 Charitablo Foundation 1$ a company limiled by shares and a registered charity. tt is govemed ty memorandum and articles of assocHtion last updated in 2018. boar(1 of trustees Makes th8 final decisw on all rnatters conceming the actmlies of the ¢hary. grants commlttee wists the board oftruslees in making recommendan$ for awarding grants. The trustees usually meet lknes a year to c£Y8idar rècommendaliong for the Ing of gra)ts. lo review financlal 8divili85 and olhor matter8 tha ari8e. The day-ttrday administration of grants is deleg*ed lo Ihe gf8nts administrator. AppolnlmMrtrftru•t••8 A govamor ig elected a tern ol Ihree years from Ih? fitsl day olAugusl following hislher election. A governor may SubseqLnify, whether before or after the expiTat¢on of that lerni. be ro4le¢led fc further tem) of three years after which helshe shall be ineligible for r&el8ction until yeS have elapsed from the expiration of the latter lemi. Additionally, al the SPeCff reque81 of the 8ritish FederaticA) of Women Graduate8 {8FWG) the chaiMi can remain a governor lor up to 8n addilb?nal thrn8 years. No person 18 eligible to bo a govemor who has Mt bgen previou5ty approved in this behalf by the chanty's pwffit company. BFWG. by vniting under Ihe hand of the Chaiman of 11$ Executive. The
To th• m•mb•rs ofth• BFWG Charltabl• Foundatlon For th• y•ar •nd•d 31 Docomb•r 2020 board of trusteas the Presvjem of the the BFIfyG rewegeiwlvd duriig th•ir respectrle wiod$ of offKo a5 Sh. election, each truslee has that gives det dthe CtArilable F¢)undthn such as Is backgrourrfl, Organisalnal stnKture. fm&xial resources. Ot41$ and adivrties. The Charilable Foundattt is a whouy substhry ol the BFWG. Sevoral oflhe woffen trustees e membets of the dwly's parw coffpany. BFWG. Ttr BFWG has Ihe ptrwer lo appoint or rernve any truslee. At the de of the Bal Slt. no had a disthsth interest in th8 £1 Orthnary Shrn ofth8 cryny. The tni8lee8 (wtrKI are also ol Ihe chaii18bl& ccryany for the pwpo88s of Company Iwl are responsible for prwNJ the trt¢lee5' wffiual rewi and the fmancial slaemerts in Kcorfance ilh applThble faw and Unted Accounts Slandallls (United lfjngd(xn Genwalty Acc A¢c¢untry Praclice). C¢ryary law requres the truslee5 to prepare fin1 stslmnts for each fmancial )ar that gi4e a In flir of the stste of falm of the chwitth cBry of the mCning resOUe$ and applicatic ol res$. uKludty the inc( expethre. of the charatAe ccryany lor thal ObseFve the rrth¢Js and pr1ri3 in Ihe Clwilies SORP Makeludgements arnl estwrntes that are rnasonable pru(Iw Sle whether appkcable UK Actountilg Standds statem8nts of recorrffiended praclice ha¥e been IlOWl. subJe¢lto any material departures disck)sed e>plained in the financial curw at any the finarKia PoSn of ¢hable CoMpY and enle Ihem to ensure that the fincial stalwts ¥Mth the Cwmes Act 21Mi6. Tlw are * respon$ble safeguarding the assets of the chwftable ¢rynpany and fty takiio reasonable steps fry the prevention and detectkm othw wlarrties. Thelwstees w8 5p(1bfrXthe rrAinlwwKeaKI integnty ofthe ccYporatew¢finaTh)al infomKqlion inCded on tho ¢harlat48 c(w's websile. Legi81alion in the Unled Kir gtrrfeming the preparation oThd of sworr¢S may from lagall in OtherjurisdlIOn&
Tru8t•u' Rèport To th• m•mb•r• of th• BFWG Charltsblo Foundatlon For lh• year •nd•d 31 D•camb•r 2020 Th& tr•$ havo no benef01 Inleresl In the eharfly. 8tst•m•nt •8 lo <l•elo8ur• to ow audllorn In 80 lar as tho irustees are oware: Thora is no retevanl audm Infam11} ol which ihe ch8rlt8ble comp•)y'S al10T$ ara unaware: and Tho tru8tO88 havo takon 8118lep8 Ihai they oughl lo hBV• IAk8n 10 mako 1m81V#S aware ol y relovanl audit Infomiallon and lo e#labll¥h th81 Ihè •udlto($ 8r• aw8r• of thal Infomlailon. Audltor• Gc4d*ln• Llmlled r•vaPP)inled a5 th8 audllors 91 tho charil8bl• eomp8ny dufing tho y•ar as the io•ull ol an lrtvlialiDn quote proc•8J. They hav• expressed Iholr willin9nes$ conbnut in thal capaclty. Tho truolee%' 8nnual r•port W88 appTowI by Ih• InJiléO$ Oh Wadne8day 26 MAY 2021 and slgned on Iheir behall by.. 2910312021 Jan• Ha 8am Tdly TN•ts•
BFWG Charltsble FoundAtlon U4 FfWC- Funds for Wornen Graduates
Independent Audltor'8 R¢port
To The Members of BFWC Charitable Foundation
Oplnlon
have audlted th• financial 6tat•ment8 ol BFWG Charilablo Foundallon for the year ended 31
Oecember 2020 whlch c¢)rnpri5e lh8 Statement of Financial AclNil¢es. the Bal8n¢e Sheol. 8tal8ment ol
caBh fl¢Jws and notes lo the financi818latemenls, includin9 8 summary olsignifi¢anl accounting polKies.
The finandal reporting framewoth that has been appld in Iheirpreparalion is applKable18w and Uni(ed
Kingdom Accounting Stsndards, includin9 Financial Reporting Si3nd8rd 102.. The Financk41 Reportir4J
Standard appli¢abl• in the UK and Republic of Ireland {Uniled Kingdom Generaly Accepted Accounti
Pracllce>.
In our oplnlon, the thgncial 8tatwnent8'.
and fair vlow ofthe 8tat• ol the Charity's thlr8 •8 al 31 DOnoI 2020 8nd ol li4 inwn
and 8xp8ndilur• for the year then ended,.
.hwe baan property prep8red In accordonce 1h Unrted Klngdom G•Mrally A¢c¢ptsd Ac¢wnllr
•hw• been propar•d in accordanc• wilh the reql•man¢8 Of th• C)rnpanle8 Act 2006.
8Ml• for oplnlort
W• conducted our audit in Kcordance with Inlernatlon41 Standards on Auditing (UK) IISAS (UK)) and
applic8bh law. Our rn$ponsibiliti?s under thom $landards are further d&$cfibed in tho Audil0rf8
fe8p¢nslbllitie8 for the oudrt of the financial slalemenls 8•¢tion ofour Teport. INe are independgnl ol Ih?
Charlty In accordan wllh the elhul requlremenlj Ih•l •r• relevanl to our aLtdrt of the finan¢ial
$t•lements In the UK, Includlng Ihe FRC'S Elhlcal St8ndar
BFWG Charltable Foundatlon Ua FfWG- Funds for Women Graduates Independent Auditor'8 Report To The MembeT5 of BFWG Ch2rit2ble Foundatlon We havé nothing to roport in thi$ regard. OplnloTh6 on oth•r mattorn prn8crlId by th• Companlw A¢t 2006 In our opinion, based on the work uThJertaken in tho ¢OUfse of the audl" •the infomiallon given in the trustees, ffjport {inc(YWiThJ the directors. reM) tho financial year lor whh the financlal Statements are prepared is cfy)sislent wilh Iho financial slatements.. and •the ITuslees' report (into1n9 the d1Clo(5, report) hove been prep¥•d in accordance wil applicable legal Uir0mts. Mthv8 on whkh ar• requlr•d to Mport by •xcoptlon In the I'ghl of tho knowlodge and understanding of the Charity and its environment obtsined in the course ol thè audit, we have not idontrfd material misstatements in the Tnjsloos, Annual Report. We have nothing to report in respect of the following matlers in relation to which the Companies Act 2008 requires us lo report to you If. in our opinion.. 48dequale acc4Juntiry records have not been kept or retums for audit have not been ceived from branches not Msited by us.. .Ih8 financial stalemenls nol in •Jro8mrt with th8 accounting records and returns: •certain (*sC1ur¢s of trust88s' romuneralion specffied by law are not made; or ¥e have not djtained all Ihe infomiation and explanations nee•ss8ry forthe purposes af our audit R•8pon•lbllftl# of th• tru•tM8 As explained more fully in tho tNslees' responslbilitles statement sel out on page 5. the trustees are responslblg f¢r the preparation of the financ1 Slatements and for being satisfied that they give ? truo arKI fair view, and for 8uch intemal control as they determine18 necessary lo enable the preparation of financial slatements Ihat aR free from material mi5$talemenl. whether due lo fraud or effcrf. In preparing the financial slatements, the Irustees are responsible for assessing the Charity'$ ability to continuo as a goin9 ¢on¢em. dixlosing. as applicable. matters related lo going concern and using tho ng ¢oncem basis of aw)unling unless the trustees ether itend lo liquidate the Charity (Y to cease operations, or have no realist attematNe but to do so. Our r••pon•lblllUa8 forth• audlt of tho flnanclal 8tatomeTrts Our objective¥ are lo obtain reasonable o$$urance aboul whether the financial $18temenls as a whole are free from fflaterial mis81atemenl, whether dua to fraud or error, and to issue an auditorfs ffjport Ihat i)cludes our opinDn. Reasonable a55urance is a high level of assurance bui is nol a guarantee that an audit conducted wi accordance with ISAS (UK) Y1[ alrtays dde¢t a malarial misstalement when il exists. I5statements can arise from fraud or ernr and are considered material rf. indNidualty or in the aggregate. they could reasonabty be expected to inffluence the economic d8¢ision$ of users taken on the basis of these financial $tal8ments. Irregularitles. inthding tral. are instances of non4ompllance with and regulalion5. We desYJn prccedures in line with our responsibilsties, oullined above. lo detect material rnis5Lqtements in respect of irregulariies. ir¢cluding fraud. The exient lo whith our prt)eedures we c8p8bl8 of dalecting irregularities. including fraud is detailed belchv:
BFWG Charltable Foundatlon FIWG- Funds for Women GradMAtes Independent Ret To The Members of BFWG CharAtable Found•llon PerfomNng icwmal enty testi)g to ascertain any large c anounts. Checking l there are signrfrwrt tr8nsa¢lKM. wlKh are out of the 8c¢)pe of the nonYl OperatA rE$s. A further doscrptscfi of re$ibIl ts the audit of the finwmxal sl8ff)ts is kKaled on the Financial Reporbng CowKifs IvfwW.frc..JdQ¥msi1rtiesj. descripti1 forn part of our auditorfs (epcl. TIMS report b made soly lo the CS ft. as a b¢, ¥1 accordance with Chapter 3 of Part 16 01 the Companies Act 2CTh. Our wdit work has been undertaken so that we mi9hl $late 10 the member5 Ihose matters * are required to slate to ttm in an audit(¢s rer•Jt and for no other Jrpose. To fvllesl extent pemiitted by law. we do rKrt assumg r8sponsibilty to anyone er than the Charity's as a boty. ICK Th5r 8rt vrtxk. for tIMs rfjpI. or for Ihe opiTh(Th we for and (In boh•1 Qold*ln• Lknlt•d Chartor•d Accounlxnts 76 Maygrnv• Road London NW6 2EG 15 June 2021
BFWG CIMrflabl• Foundatlon 8tat•fflont of Ikwla1 acllvld85 (incorporating an income and expenditure accounl) For th• year •nd•d 31 ¢8mber 2020 2020 Unrnstricted 2019 Total T¢)tal Oonalions and lega¢ro9 Charitable adivitses.. Grant adrninistrati( fees Invethenl incwa Other ¥K¢Jn 4.201 172.399 171399 4.500 218.534 Total Ineom• 176.664 176,6q4 223.098 Cost of raising funds.. Investment managnI cc*ts Chaiitable activlli.' Grant thvards 45.762 46,969 296,209 29J.983 Tol•l axp•ndlthrn 341.971 341.971 337.952 on Inv••kn•nl• (165.30n v66A07) (114.854) Net gain(lo$S83) on in¥wlrn 265.543 260.043 265.543 891.449 891.449 100238 100,236 776,595 Tra)sfars belythn furKIs Il•1 Inconrfoxpondlbjrn) oth•r 100236 100.236 776.595 R•con¢lllallon of fund•: Total fid8 brought fiyw¥d 8.293,$44 044 7.516.949 8.393.7W 71K1 8.293,544
2019 LI47.1 1.716 1.718 114
BFWG Charltabl• Found For th• y•ar 31 D•wnbor 2020 2020 2019 2019 N•t ¢a8h pTovld•d tyl (w•d kn) opwthg 15 (336,073) (321.1131 Inleresv rertl dmdends from WNegtm Salel Ipurchasel of red assets Salel Ipurchasal of investm& 172.399 218.534 40.475 (3.9791 212.874 214.555 (123.199) 11C6.5S81 Cash and ash mIents at bown¥wJ the ye Change in cagh and cash equivaents thbe to exdw ralo nThements 268.953 375,511 Cuh and •qulvd•nts atth• •nd of th•y•w 11 145.754 268,953 12
Nol•• to th• fin¢141 •lat•m•nts •} 8•11¥ pr4110 The finanaal $lat•Ments boen y•p•r•d in tArylh Ac£wntin9 ty Ch•it4: Staknlenl ol A0mnded Pracbc¢ a1¢8t4¢ to crS wwarirwj tsr 8rxwts in a(urfdaKa wth the FinanLial Rewlwig Stand8rd appllcablg In the UK wJ R•pth ol IrfjlwKI (FRS 102 - 1 JwJwy 20151 . (crI1S SORP FRS 102) and thè Csynp8nkx Act 2CIA. Th• CbI& ¢mnY mo0ts th• ¢knfnOon of • b11 •itity FRS 102. As•t• l•bilitits am inibalty b) Qalw e•ncarn Tho truit•M c(mhJ•r that thorn •ro nts malwiaf wK4rtalnti•s abo dnjI0 cownyb 8bdty to c¢nthnu& os o othno o)Mim. Th• do not Ihol •ry SOU ol esknatil un1.nty •t rnportir4J data thal haw ¢) th0• Inccrfne from qovwnrn•nl ¢thr wits. wllh•r 'c•wt•l' g14 or gTWrt& Li r•uJgnNed then the tharty h8$ •ntW•m•nl to tm p•rfum•nc• allaol•d 10 haw IM•n m•1, tt that lh• Incun• wll b8 and th• om+Jml w b• m••xnd r•lwbty aTra not def•rTJ. rOc•d kn jC• fvr lh• pT0viiic ol ip•clfi•d For l•g•(iN. •ntilJeThnt b 18ken M tho ol lh• ¢Jth on •tt•r. ch¥ty li w•r• Ih•t 0b•1¢ h•$ b•en gr•nled, 8stst• h•• be•n bwn mod• by ex$) to th• charity th•t a distiilth.on t• mad•. or Ython o diitsibution 18 r•c•hfjd Iram •s1ot•. R•cl ol • 11980, In prt o cthMhla(•d probat4• wIn th• omounl can t• m••wr•d rnll•W wa ¢h8ity h•$ b••n nobfiod ol èx4¢.$ lrt•txn lo m• • diilribu.on. leg•thg b••n notifi•d to I chty. or im ra aar• ol IM gm11 of probat•. rj th• uil•na fvr InJMe f•C(vnOn h•w not ffL ihe logw li • ctylrg•rt u••1 WKI matswwl. • 0¢non• of Alft•, ••Trle•• •nd l•elllll•• pfolessbjn aerne•J ond focthj w• r•cDTA••d a8 kKom• fhth•n th• criY hts control o¥r lh• or r•c•lv•J fv ¢•. 088odaled wth dorbatk) ha¥ en moL fv rect ol bonofit Irom Ihe use by th• ¢hwity ol lh• it•m i• probabl• and Ihal •Con twwfil can b• m•asurnd r•W. kn aCc4Xda• wih th• Chari¥ SORP IFRS 102), tter fv Li Ml r•cowas•J so th• bij81, arrnal r•r•Yt tr Ay)r• Infomutkn tMlrttntributson. On f•cdpC denaknj 9ift8. proftssywl dtyTrblod •rn r•winNed on tho basis ol the lue ol the g'ft to Ihtr ty wNc * thè amwnt lh• olorty hm boon wAEty p•y 1> obtw wC4• ¢Y ol •qvalent ec¢ncthlc Int1 furKls lhJ dott is In(Aod Wh rl¥ab and th• rnnt b• mthJ•ur1 r•li1b by th• charity. thrn is nennalty of lh• lftlemt j ty pay•bfe Ihe bjrft. Q F4nd Unre8thrAed •r• rri1gbl8 tg spwKI rm tr•t •ny ol Ihe purpws ol tharity. O•sb3natgd fiJnd$ Un¢thd fvnd8 01 Ihe th•ity tro trLtyto0s de(yJBd at their to set to use for • 8p8rlfic purpoee. Re8trlctgd fvnds donaln5 tho dwr ¥e to be sc4gPsf pgrtolar woas ol thg tharity'$ work or for 8pedl¢ proi•Lts th•ity. g) Ewdlthr• •nd lTr¢wwthVAT Exwdiiur• (•effjniwd ¢nc i¥ ¥ l•g•l or b) rra• a paylirt lo a th'rd party. rt Is ¢Yol>obfe that tUem8nt wll t4 reouired Ih ol th• obwkn cw b• ftwsw•d r•habty. Exp•nthture is d8Jsifd urnler 11 lolbmng h•adirw". Costy ol rain9 ol tr•7 <4)Jts •KI fv Ix¥s15 w¥x¥red ty lh• ch•nt•bl• clyyry in iTrJucing thd pJ0s to make to C 0$ TAW 8$ Ca)St ol tth 8 fiMKlra1s¥ pu>e. Exp•nditurn tsn ¢h•ritaL4• actitio8 1•S ts c<ts ofmakwty th•it•We donalws. 0r exF•n(Iiurn MsantS lorns into any oth8r h8a¢r8. Irreco¥eAAbls VAT Is c al ¥ the acaw wtrich th• •xpwthrn wa8 Ir1[11. -13-
BFYIG Charftsbl• Foundailon Nol•• tho flmnclal •tatomonts For th• year and 31 D•combor 2020 1 A¢eourfng Wlcl•• l¢ontl•w•dl h) Alocth d•uppDrt ¢o•ts Support costs are th018 nOn9 Ih8t assist wwk of t chanty bul do not dir8clty undertake thantsble activAi8s. Support ¢>J5ts include b8¢k offic• fin8ne•. pèr8onn81. payfdl and g0man¢ costs whKh 5pt tho ¢h8i6ty'8 8dMtie¥. The8• costs have botrn allocal8d betsn oxl ol rain9 funds oTra exAltura ¢n thoril8bLo ACtMtia$. R•ntsl d)argeB aro ¢horrJed on a stri1g lkne ba81$ ovorlm tami ol Ihg1848•. J) T•nglbh flx•d •s••ts Itom$ ol 8quipmont arg t8llsed Vrtre Iha purch8se •x¢••d$ £1,C(rf). Deprnciallon Is fvaod ai rntey 1Cala to wtha down tho $1 of •ath lo 118 esb'mat¢d residual volu8 ¢)ver ils oxwcted ubeful lile. Tho dgPWt81ion r•1•8 in or• i foll)ws.' FixbJr•s and fltdng• Comlxrfar eqU1wnt 1$% U•l•d Inv••lrn•nl• Inv88tmerts •r• a lomi of basic ffin•nd91 In8lrum•nl Ind ar• Inillally rwnlsed Ol tronso¢tlon v•lu• #nd blqu•nlfy m•alur at thèir lair vaknè as at tha lanc• shmt dal• u8lng Iho dosing quoted Ma•t . Any ¢h9nge in lalr v8lue will be r•aNnlwd In th• t•&Yn•nt offin8ncl•l •cdth•8. 11 D•bto Trod• #nd th•r d•btorn •r• rno)9nffj•¢l i th• 8•ttknwl •mounl du• •ft•r •ny trad• dLIe41 oll•¥ed. Prep•ymonl¥ arg v•lwl al the rnnt pr•pald n•t o18ny trthde diKounts du•. m) C•h atknnk and kn h•nd C•th 81 bank and rabh In harrtl Indud•$ cByh •Tra short lonn trdoNy liquid inwth•nt• 1th • lhort m•tuity ol thr•• mrfflth• or from ts d•tg of •c4ulittion of opgniw ol th• d•po•ll or slmllar ac¢ount. n) Crndltorn ind pro¥l•lon• Cfvilitors and pthslon5 ore ffjcffjnl••d •r• th• 4arity has o Ixewnt oblwjation r•Julting frthm A past •¥•nl ihal prObaY sutt in th• trnnsf•r ol fund• lo & Illl paity a1 th• arnounl du8 lo Mltle Ihg 01940n w b• measured or •Sllm•lod rnlkqbly. Crndrtors pr0viJn$ r• nomialty rwnimd •1 Ihoir •ettlement •mount aft•r allowlng any ty•J8 di8counl$ du•. o) FJMncl•l In•lJwnth Th• ch&nty onty h88 flnanctal 9•19 and IhwneI lisbilthes of a kind that qUaty as baslc ffinarKi81 In8twm•n18. 8a8lc finandgl Instrum•nt$ are initially r•cognlBed al trans9don v•lue and subg•quontty mèasured al Ihelr 8•ttlement valuo with lh• oxc4pYon of bank loam whh rn wbI•qu1Y m••iw•d •t nortiMd cl1 UBiThJ th• •ll•cll¥• inl•r•st m•thc¥J. p) P•Mlgn• Th8 Charfty ¢uff•nYy has no p110 IlabilU•s. li c4nfffii$ Ih•l it 1$ MplyIng th oulo •nrolm•nl p•n•ion f•gula¢K)n. -14-
BFWG Charftabl• Foundatl¢)n Nots• to the Ilnanclal stat•m•nt• For th• year andad 31 Docombor 2020 2 Ine(An•fr•m donAllon8 and l•gacl•• 2020 UnrestsiGted 2020 2019 Total Gifts aTra dTh)alior 2020 Unrestricted 2019 Total Total Grant odmini8tr8lion fees Other income 4.201 4201 4.500 4.201 4201 4.5ty) T¢thl InA•frn ¢harflabl• aGIMII•• 4.201 4,500 2020 Unrnstricted 2019 Total Totsl 8ank Interest Investment Incorne 361 923 172.038 171028 217.611 172.399 399 218,534 Charilable Basis ol allocalion Cost of sing fund$ Gfanl awards 2019 Total Stsff costs Direct Costs Support costs Investment management costs Governance costs DirB¢l Direct Direct Direct Direct 21,238 257,685 1.207 330 23,573 245.942 2,687 46.969 18.781 45.762 762 1*079 16,079 Total •xp•ndltur• 8.209 341.971 337.962 BFWG Charitabl¢ Foundation h•J no r05trirtfd axpendilure in 2020 (2019.. nill. Grnnts awarded are only for indiwduals for the purpose of the charty's ol'ects. Inveslmont management rMts Comprisè ol fund nagement fees of£45.762. -15-
&TW6 ClbI9 FOU0 NO to 1hfin¢Il •tAtwn• Forth•y••r •ffdgd 31 Decamb•r2112• 2018 4.1)OQ o)w•r•••lc4kx&" 201• 21sn 2J.SY ThetathY&iwty••tsAr I>J1•'. ENill. Th• Aut other bOrtr •MrAtrwnkni th• Ml tI20%9". tnll Théy ¥JM mmbad exp£2)4 th•y•w(201tr. £1,404). pWwr1rQrpleww or4)thgr#Ai¢41 wpF4dll thg ¢hw5ty(2419.' Énjl. 19 Wp. 8.147.361 .147.361 .147J 7.251,933 2.292, dthMat02&1 m•thI1 Ond clthvyqw 1.147.J81
Nol•Jloth•flnAn¢ld •lawm• Forth• y•r•nd•d 31 Do¢•mknr2020 201• 2019 121.IVI 118.165 $14 4.404 124.447 .372.429 21.3$1 N•1••••*b•ttsdIrth•¥4 Iuwyqor lo Tr4ml•rn th•y•er 8293.$14 178.664 76.428 710.59$ 11711W 121•.$341 PIW¥l 1•91.4491 {Inty¢•SeYrftyY1•¢JeD 1 13001
Forth•y•ar•ftd•d 310othnbor2•20 At C•th È•nkv hbhw {1YJ.19•> 145.754