The Family Holiday Association
Trustees, Report
and Financial Statements for the
16-month period ending
31 December 2020
•x
FAhilLY
HOLIDAY 4
ASSOCIATION
Company Registration number 02301337 (England
and Wales)
Charity Registration number 8cxn62 (England and
Wales)
Charity Registration number SC048203 (Scotland)
The charlty that gives families a break

Fonlty MfdayAwdatton
Coundl
Mr D J Burling
Mr J M Appleby
Ms J M Rldgway
P A Harris (Chair)
MrMJ C Saxc
Mr J de Vial
hts J Tucker
Charfty number (Engtand and Wales)
8(KJ262
Charlty number (Scotland)
SC048203
Company number
02301337
Prfndpal address
7-14 Great Dover Street
Londc
SE14YR
Reg15tered office
7-14 Great Dover Street
SE14YR
Audttor
CBW knjit Llmited
66 Prescot Street
E18NN

Famlly Hoilday As*datt(
Trustets, rtwi ftrwidai Jtatefflwts lor tre 16￿ pwknd to 31 lye￿￿ a)20
Contents
Chafr and CEO'S welco￿￿ ......................................................................................
Vfsfon, purpose and publfc benefit............................................................................
Activities and achievements....................-..-.-...-...--..-.--.--.--.........-..-..--..-................
Achfevements agafnst ourstrategy........... .............................................................
Dlrectly provide short breaks and day trips. ..............
Champlon holidays as a forts for goc#d..................................................................
Be an effective, well managed and better govemed waanlsatlon..................................
Maintain ourfinandal indeperKlence....................................................................
Utflise new techThkn to Comect breaks and days ¢wtwith families.............................
Future ptans..........................................................................................-.........
Finandal revlew...................
Reference and adrnfnistrative detafls..................
Structure, 8ovemaKe and management................................................................... 12
Trustee's resp￿57b]I1tfeS In retation to￿￿fina￿1al staternents...................................... 15
Statement as to dlscl<)SLre to ow audltors...................................................... .. . .... 16
AIKlitor reappointment..................-..-..-..--........................................................... 16
Approval........................................-..--.--.--..--.-..-............................................. 16
Independent a￿lIt(￿S report.....................................................--.-.............--..--...-. 17
5tatemert of financtal activities............................................................................ 20
Summary Income and expendfjtLYe accixmt................................................................
Balance sheet.........,...,............................................-..-..-..-.............................. 23
Staternert of cash flO￿....................... .....................................................--....... 25
Note5 to the finarKfal statements........................................................................... 26
11
The Board of Tnstees of Family Holiday Association presents Its report with the financial
statements for the 16-month perfod ended 31 December 2020, which are al50 prepared to meet the
requirernents for a directors. report and accounts for Companfes Act purpose5.
The finandal statements have been prepared in accordance wSth the accounting poliaes set out In
note 1 to the finandal statements and c¢)rnply with the charitys Articles of Association. the
Cornpanies Act 21x16, the Charftles and Tnts Investment {5cotland) Act 2tQ5, the Charities
AccoLnts (scotla￿1> Regulations 211)6 las amended) and "Accounting and Reporting by Charfties:
Statement of Rec￿llMended Practi￿ applicable to charities preparlng thefr accowjts fn accordance
wfth the Flnanclal Reporting Standard appllcabte in the UK and Re￿￿1C of Ireland (FRS 102)
(effective 1 January 2019)".

frmny Assoclatkn
Chair and CEO'S welcome
As the only national charity dedicated to w￿5thng trnks and day trip5 for famllies in challengfng
circumstances, we were fiyjnded on a belief that time away from horrE together can transform
lfves for parents, carers and their thildren.
For the first time in ow htstory, we were forced to dose ow service5 in March 2020 arKI Ca￿e1
breaks and holldays we had ptanned for many familie5 who were looklng forward to a lifeline when
the COVID 19 pandemic struck
As the attention of the nation turned to we could best keep ourselves and each other safe,
lockdown5 meant we all experienced a tiny taste of what it means to be unable to enjoy a break
durlns a challengtng tlme.
Our charfty SUpp￿ts families copfng on a low-inC￿ne who rnay already be struggling. Thls pandernic
has particuLarly affected them, impacting their finances more severely. maklng it harder for them
to access education and sUp￿rt seThices aThJ worsening exlstSng mertal health issues and
experlences of dcffnestic abuse ￿ Isdation.
The pandernlc has left rnore families more VUlne￿e than ever before.
Durlng thfs financial Peri￿, we took deliberate decls5th)s to conserve re50wces, strengthen o
governance and review our strategy to get reaty for the time *then wijuld be able to offer
farnflie5 a break again.
Thi5 flnandal year would have ended in 2020 tmrt havinq decided to align the main operating
season for break5 With our finarKial perlod we changed the year erKI to 31 December 2020.
The resultlng 16-rrK)nth financial period, c(xrknined with being largely unable to offer our c¢￿e
services due to restrictTon5 on trave( arKI the irryact of social distancing measures, make this a
truly unprecedented period.
Inevitably a higher prnportion of our expenditure in the period has gone on raising furK15 than in
previou5 years as we couldn't ¥Jend on sendlng families ￿ hdlday.
That doe5 mean that we ended 2020 in a g(xxl financia( position with an unrestrfcted gJpIu5 of
E630k and restricted funds of £103k.
But that leaves our reserves above the range set by the Trustees. So, as well as resuming our
charitable activitie5 as soon as we can safely do so, these excess furK15 will suP￿rt a rapid
programrne of investment In 2021 aligned to a new Strategy.
At the tlme of writlng. we are setting ready to welcome farnllies on a rn￿h needed break for the
first tlme in over a year. We have a vital rde to play in the natfonal recovery yet to come and we
are determined that they will be the first of mary.
Phlllppa Harrls, Chalr and Kat Lee. ￿0

F￿llY ￿l￿raY Asfodatkn
TnJstee5' rewt f￿#￿al st*•rthts for the 1&mL¥th pwbj to 31 DEC￿2020
Vision* purpose and public benefit
The Family Holfday Association fs the only national charity dedicated to providing breaks and day
trips for famflles CLyfng w5th some of the t￿ challenge5 ITfe can bring.
We help UK familles coping on a low inccKne and often strugsllng w5th problems such as severe and
tong-temi 7llness, bereavement, mental health Issues, disability and dcrntic violen￿.
Each famlly we support is referred to U5 by a professlonal in the communlty. Our referral network
includes teachers, sodal warkers, health visitor5 arKI other charities.
Evidence shows that our work re￿￿ts In strcfflger. healthier and happier faml(fe5 and c(xnrnunities.
This finandal Peri￿ our Board of Trustees spent tirne reftetting ffi Olf ViSi(m, mlssion and values
and have refreshed these to make t1￿1 fft fw the future.
We rernaTn committed to our charltable objects 'to promote and wovlde acce5S to hotidays and day
trips for famflies or rnemLEr5 of families which or who have need of such kK)Ildays or day trips for
rest and recreatlon by reason of their youth, age, fll-health, disability, financial hardshlp or other
disadvantage.
Our updated vision is to transfom Ilves wfth the antfctpation, enjoyrrffit and memory of a break.
We'll do this by glving farnllie5 a chance to enjoy time away together. To explore. To have new
experiences. To meet new people. To have f￿.
r Val￿ are to be:
POSITIVE
We bring creatmty. inrK>vation and energy to our work. We focus on what
can be achieved arKI we enjoy going bey￿K1 what people expect.
We ask que5tfons and we want to know why? We seek out new ideas arKI are
prepared to try and try agaln because that'5 how we learn.
Cu￿OuS
PURPOSEFUL
We are committed to our shared goals and we take deliberate decislons to
progress towards them. We are proactive and corsidered.
DYNAIAIC
We adapt to the w(xld ariJurKI us, and we look ahead to anticipate change.
We are energetic. nlrnble arKI re¥)LYSi￿.
MINDFUL
We Ilsten arKI we use what we learn to transform ITve5.
We care ab￿t farnilles, our sw1p0￿ ar￿ each other.
Our publfc benefft
The Trustees have referred to the gutdance contained In the Charity CorrrnissSon's general 8uldance
public beneflt when revSewlng tharity's objectives arKI actfvlties, arKI in plamlng Its future
artlvlties.
In particular, the Trustees consider how planrEd activitie5 wlll contrltxrte to the objectives and
actfvltles that have been set.
The Famlly Hotiday Assoclations, pthlic ber￿fit is delivered ty working wlth the don*rtic travel
and tourism industry to provlde breaks for familie5 who would otherw5se be unable to acces5 them.

Fanfty TrkJlldayAurKlatl
And by ustng our unique ￿SItiOn and mcffe than 45 years of experience to advocate for holidays to
be recognised as an essential part of famlly life. All our trips and days out are in the UK. We don't
offer experlences abroad.
Spending quality tirne together as a famlly away friTh offer5 W￿c￿ne respite frorn daily
hardship) a new sense of Optimlsrn and hope fw the future.
For many of the children we help, a break offer5 the Chan￿ to do s￿Ething for the first time.
Everythlng from explwing a new environment. paddling in the sea. txrflthng a sandcastle or flying
kite for the first tlme thr<Jugh to seeing landscw and even t￿ILding5 *thich are dlfferent.
The joy of slmply seeing other people smile can Ilft them tyrt of their everyday cares and wonfjes
and enrfch their Ilves for￿￿r.
There ts evidence that a family holiday can create lrfelang happy memorie5. Stronger relatlonsh7PS
betw&n family members arKI an fnyroved quallty of life. family feedback tells U5 that a short
break can lead to:
increased partfdpat5on in educati(m and pald wNk
improved leaming arKI behavI￿r at sctrKJoI
more proxtive and positive attIt￿leS t(rrtard5 other types of suP￿rt
There is evidence that our charity5 w(ffk results In strLNiger, tr￿alth1er and happier famflfes and
communltles.
Activities and achievements
In the final financial period of our thrtryear strategy ta￿ched in 2018, we had no Idea how
profoundly we would be impacted by covid.
The tran5forniative irnpact of a break cannot be replicated onlfne, and (Jur Tnjrtees were c(rfident
that when the pandemic wa5 over farnilies would be more in need of time away from home together
than ever.
So, whfle our ptans were forced to drastically change when the pandemic hit in Marth 2020, we
have remained focussed on the same Strategic aiffG and the financial perforniance arKI goveman
whlch underpfn our ability to deliver ow strategic objective5 and maintain our finandal
sustafnabllfty.
Thfs has requlred the Trustees to take dlfficult declsfons in this financial perfod, all of which
have been done w5th the charity'5 miss1￿ a￿1 p￿lIC benefit firnily in mind.
Achfevements against our Strategy
Dfrectly provlde short breaks and day trlps.
Our aim Is to reach new cornrnunities and dcxknie the nwnber of famTlie5 we work with each year
by the end of 2020.
This flnandal peric￿...
In the flrst part of the financial peri(MJ. we were gearing up to reach more famllles than ever
before thanks to development of valuabte relati<nships with key partners wh) were
donating acCOrrm￿ati0n, attrattion arKI trarw(rt tlckets.

F¥nlly Holk1ay A5%￿latI(
As a result of the government guldance to avoid non-essential travel and later national
lockdown in March 2020 we cancelled all confirmed bookings to the end of June 2020 and
notified our referrers that we would be pausing the asse5srnent of any applications already in
CW Systems, or award of group trip wants ￿tTl firttr*r notlce.
We surveyed those referrers In early 2020 to ￿KIe￿tand the impact of the pa￿lemIC on
the familie5 they 514JPOrt and cm their capaclty to Sup&￿ them. This exposed a stark Increase
In the challenges families faced, and a sense of real anxlety about the posed by going on
a break in futwe.
A lot of our famllfes have pecple who are vulnerable due to health problem5. 50 they are
Scared of golng out, but also In desperate need of somethlng to look fttward to. It Is a really
dlfficult tlme for a lot of people. l thlnk they wfll need a lot of rea55urance about hyglene
and how %>dal dfstanclns on breaks can Referrer, J￿e 20ZO
96% of respondents said the impact or frequerKy of isdation had Increased because of the
pandemlc. The figures were 95% for mental health issues, 88% for low C￿fidenCe and 78% for
domestic violence.
When lockdown re5trtctions were eased in early Jdyp we listened to the feedback we received
from our referral network and <Jur breaks suppliers and used it to establish five key conditions
vthich would need to be met In order for us to saKI families (m urfernight breaks agaln.
1. It must be safe for farnilies.
2. Breaks suppliers mist be operati(Thl,
3. Families must be able to travel to and from thelr break destlnatlon safely,
4. It must be posslble for them to receive adequate support fr(Th thefr referrer.
5. And the experferKe on offer must be fLn.
Famlly I referred would need to be able to access amenltles and actfvltles to get the full
hollday experlence as they have never had a hollday before so want to experlence all the fun
and enjoymert of all the fadlftfes a caravan park ha5 to offer" Referrer, June 2020
These five key condition5 were r#rt met at any point during 2020 and as a result we did not
offer any breals after 17th March. We received ¢￿eTh￿￿n8 5UNXXt frorn our referrers for
this decision.
l absolutely understand and respert your dedslon you do such a great Job for our
vulnerable famllles. Let's hope that you are able to offor your support sometlme In the
future." Edwina, Farnfly Support Worker
Overall, fn thls flnancial period we didn't meet afm of doubling nlrnber of famflles we
worked with.
We provlded 517 families with a sh(rt break
We distributed 5 tickets to a single family f(r a day Ixrt.

F¥nKy Hallday A55oditl
We supported 1 group. comwlslng a total of 45 funflles. whfch was made ￿ of 151 adults and
thildren wSth a grant to have a day (xrt.
It should be rx)ted that 505 of these family breaks or day trfps took place In September and
October 2019 and were erroneously reported in the 2018119 annual report. Thls error has
been caused by the dfsparity between our financial period whlch ends during the continuous
'holfday seascm, in hthich we offer IKeaks.
What we leamed...
We hadn't cansldered the possibllfty that travel would be restricted or banned amongrt the
rf5ks for our service delivery. so we didn't have plans for how best to resporKI. This added to
the stress and chauenge for staff, who were also deallng vrith their 4ywn personal experlences
of the parKlernlc and could have been avoided. In the future we wSll consider this arKI similar
scenartos in our ptannlng.
Communicatfng CoM￿eX and hlghly en￿tional messages to farnllles plarning a holiday wa5
rnade rnore challenging because we had no direct relationship with them. We rely on referrer5
to pass on infornation, but some were furloughed, rnade re(lundant, bereaved or unwell. In
future we wlll develop a line of cornmunication with familie5 alongside their referrers.
There are parts of our customer JOUrr￿ over whfch we have no control or vi5ibfllty where
families are communlcating directly with one of our suppliers. Thls made it challenging to
ensure everyone received the right message at the right tfme so we will work to ensure we
have oversiqht of erfery element of wocess.
Charnpfon hollday5 as a force for good.
Our alm Is to strengthen the erider￿ base and brfng polKy makers. the travel and tourisrn industry
and the social sector together to act for families.
Thls financial perioL.
We published our re￿rt Into the long-term inyact of a break on families whlch
demonstrated lastfng positive impacts on mental health. reduced Isolation and improved
relationshlps within farnilie5 and between them and the profe55ional who referred them.
We gained the support of Hannah Bardell MP agreed to Chalr an APPG on Inclusive
Tourism. Tr inaugural rneeting of this group was scheduled f¢x 25 March 2020 and
UnfOrt¢￿atelY c(xAd not take ptace.
We planned an event with towism offidals In Scottish Goverrrt as part of our
cffigoing relationshlp with them and ￿51t 5crtland to Pr￿de breaks to low-lncome famllfes.
The Ministers for Mental Health and Equalitie5 were Invited to rneet famiLTe5 and referrers
who experienced one of our breaks and talk abcArt the drfference ft had rnade.
Unfortunatelyi the event had to be canceLled due to the pandemic.
We were an actfve partidpant in England's Indu5ive Tourisrn Action Grow, chaired by ￿51t
England.
WThat we leamed...
We had made no contingency plars for a scenarfo where ￿lfcY maker5, the travel and socfal
sector5 would be fully occupled dealing with a pandemic. Thi5 meant we dith't have a way

F￿llY
of contlnufng to further thTS Strategic aim in these arcumstances. Arguably we would have
made little progress whatever our plans. thfs Situation exposed a weakness in (￿r
planning processes we will address in the futwe.
The unprecedented restrfctions on travel this >Ear have mafnstreamed a conversatfon about
the value of takinq a bre& There fs a real opportunity for us to convene this conversation in
support of our rnission as we rnove into 2(r21 and restrfctlons are eased.
The discussion around inclusive t(thsm awrfjnw Ws and businesses has focussed on
physical acce55ibility for those with a disability or Icm*terni health condftSon. We wlll work
to raise awareness of the other barriers to accessing towiyn fKed by farnilie5 we work
th.
Be an effectlve. well managed and better governed organfsatton.
Our aim 15 to strengthen our govemance and erswe we are robust fn the way our cryanSsatfon
runs.
Thfs financial perioL.
Kat Lee Jolr￿d the charity in January 2020 as its new Chief Executive.
We rapfdly adapted to worklns at hc#ne In I1￿ wlth govemment guldance and accelerated a
plamed mfgratlon to Office 365 to suppcrt this.
The Trustees purs￿1 a strategy of Ca￿erVIng resources a5 far a5 P055ible in the Short tenn
In order to be able to rneet the needs of fam?lies when break5 away fr￿n home c(xAd
resume. We furloughed staff involved in dellverfng breaks, looklng after our premlses and
runnlng fundralsing events and scaled back resourcing in other areas.
We undert<Jok a detalled strategic re4iew and Trustees and staff worf(ed (remotely) on
developing the r£xt strategic directi<Jn for the charity. We found we were resourced to
support the charity as it had operated prior to changes in its fwKling structure arKI digital
developments seen Sn recent years we were missing 5(xne essential skll15 for the future.
As a result, we took the dlfficult dedsion to rnake some changes to staffing structure
whith resulted in redUnda￿Y for four of our team.
We gave notlce on the office premises the charity has ￿CuPied Since 2011. We will adopt
new ways of workTn8 which wlll reduce expenditure on premises in the future witlxxjt
cornpromising on the quality of support for staff to fuLfiI thefr roles.
We commissioned an iThJependent review of sovernance at the charfty to benchmark our
perforrnance against the Charity Governance Code. The flndings and associated action plan
will support Trustees to prioriti5e wcKk in the coming year.
We changed our financlal year end. bringing it into Ilne wlth the hollday season and calendar
year and brin8ing greater clarity and transparency for staff, Trustees and supporters.
What we learned
We have been ambitious abcmrt the scale and Pa￿ of change we want to see at the charity,
and that has been hard work for both staff and Board to dellver. espedally against the
backdrop of the pandernic which has taken its own emotional t￿1. We wlll cont5rHJe to bulld
supportive c￿￿ture which values wellbeing alryide wtputs.

FanfjLy HolldayAsKc
As a small charfty recruiting to leader5hlp pos1t1￿$ wlthout the spending power of other5 in
our sector. offering flexlbflfty has enabled us to attract candidates wlth higher level skllls
and experlence than we would othwwise have Lwi able to do.
We can move qulckly. and we can make big charffjes when the Trustee5 and the staff team
work closely together and hold shared aim5. We will c<x)tlnue to cultivate stron8 working
relatfonshlps amongst and between the Board arKI the senior leadership team.
Malntaln our finandal Independence arKI be a charity that partners are proud to work
with.
OLT alm 15 to fundralse to supwt more famllles than ever before and to be a trustworthy,
reliab(e partner with whfch the t￿l$M lThJ￿try is to engage.
We worked wlth a range of corporate partners thrlng th7s period 7rd￿ling Flrst Rate,
Charltable Travel, Canva5 Hdidays ammg other5. generdtlng £131 k income.
We engaged supporters of the charity in four maillngs through this period. whlch along with
those who give a regular gift to the charity, senerated £366k fncome
We continue to recefve fundinq from lry-standing supporter groy in Sheffield and
Rotherham, as well as from TUI Care Foundati￿.
Our ongoing appllcatlons to trusts and fwKlation5 able to make grants to SLPPOrt our work
Contin￿1* generating £141k income
Our events program suffered because of the pandemic. wlth us forced to cancel events
we were due to hold, LY whlch were can￿[ed by organlsers. Oespite thls, £84k wa5 raised
via participants who tcok it w themselves to run, Jump. ￿le arKI wlng walk to help
farnilies in need.
Everybody deserves a hollday. espedalty thlltren. to be able to paddle In the sea, make
sandcastles and bulld rnemorles that they can look back on. Just as I look back on my own
happy memorles of chlldhood trfps to places Ilke Rhyl or Uandu(kM>" Wlng walklng fundraiser,
Chrlstlne - aged 80.
Travel fndustry professicma15 inspired by ￿ wwk of low-pald ke￿￿kerS set up a campaign
Give Them A Break, wlth funds raised belng allocated to the Farnily Holiday As50datlon for
distributfon.
For every £1 invested in fundraisirry. we generated £2.17.
What we learned
It is more challenging for us to raise funds when we are not deliverfng break5. Thi5 seems
obviou5 and unavoidable gfven we were prec1￿￿ed from non-e55ential travel for much of the
year. But It could also lThJScate that we aren't telling our SUPP￿terS enwgh about our worf(
to champlon holidays as a the for good and adV￿ate for wider change to inyrove access
for low-income farnilie5. We need to balance our direct service delivery and cw acfvocacy In
our publlc proflle to address this.
Many of our fundfng relatfonships are the tourism industry whith has been devastated
by the pandemic. This has had an inevitable knock-on effect on our income. We've leamed
that we need to mitigate this iisk by developfng new relationships and extendlng beyond the
travel sector whllst also maintainlng ow valued re[a￿￿$hIps Within Tt.

Famly Hdlday Aswdatlon
We haven't made enough pmqress to bulld up new scwces of Income follow5ng the change In
r relatlonshlp with TUI UK and Ireland who until 2018 were our primary source of funds.
The impact of this has been mitlgated by the recelpt of slgnfficant legacy funds during tms
and the previous finanaal period. The* f￿dS W￿'t last forever though, and we need a
programme of rapfd investment in furKlraising to halt declining Income in most areas and
secwe the long.temi futwe of the tharfty.
Utllfse new technology to connect breaks and days out wlth famllles who wlll benefit
the most.
Our aim 15 to develcp dlgital too15 to work wlth holiday pr(Nlder5 and attracti<Th to easfly match
opportunltles hfjth famllfes.
Thi5 financial perfod..,
Staff were able to access our break5 b(￿ing Wem effectively from h(￿r￿ arKI utilise it to
manage cancellations and erK4uiries from referrer5 and families throughtxrt the year.
What we learned...
Furloughing meant that staff wfth less hands4Jn experfence of the breaks booldng system
needed to use it. We hadn't considered thi5 in ow risk management and in future we will
errsure better wrftten manuals are avallable for key processes.
Future plans
Key deVelO￿nertts far 2021 Tndude:
l•o¥fng out of our office and secuAng new acct)nThthtfon to support hybrfd worklng
Revlewing our trwnershSp of caravar
Researching whith famflfes are now w￿ble to access a break away frcln home together
Revlewing and fmproving the Custo￿ jcxwry for families
Building our corporate 5UPPOrter pipeline arKI pfloting new ways to attract Indlvidual
s4)porters
Revlewing arKI redeveloping our brand and replacing ojr website
Buildinq on great delivery partnerthlps wlth Vfslt Scotland, HF Holldays and YHA
Establishing better mechanisrrLS for dialogue with families and referrer5
Implementing the finding5 of the governance revlew.
Financial review
DetslLs of the Famlly Holiday A550ciation income and eXPe￿IltUre for the 16.month perfod to
December 2020 are set out on pages 20 to 21. Inc¢Jne fcr the 16-rMnth perSod was £1,935k
{2018119: £1.907k): costs were £1.202k (2018119: £1,498k).
The surplus in 2019-20 was £733k comwising an unrestricted surplus of £149k after designatinq
£230k as a Flxed Asset FurKI arKI £250k a5 a Digital Investment Fwd (2018119: £0).
Canled forward restrfcted funds were £103k12018119: £rKm).

Famlly TrhAlday *s%Klatkn
The applfcatfon of funds In swort of the Famlly Holiday Association's tharitable activities is
disclosed in note 8. At 31 Decemlkr 2020 total charity furKI balances Increased to £1.973k (2019:
£1,240k).
In N<wember 2019 Tr[￿lee5 decided to dewecEate caravan stod( over 8 years rather than 10:
this ha5 resulted in an addltlonal depreciation In 2019120 as thts adJLStment is made.
Dutlng the year the Famlly Holfday Associati{￿ received £73,629 fr(m the Coronaviru5 Jd) Retentlc
Scheme. Thfs is shown as a separate grant fn the SncorrE note number 6 on.
Re5erve5 pollcy
In deflnlng Its reserve5 pAicyJ the Famfily Hcliday AsS0datfc￿ has corsidered vthat level of free
reserves it is approprfate for the charfty to hcAd in order to enswe its finandal SLlStainability, future
5trateglc development and cont[￿Ing to operats and dellver fts objectives arKI activities in the
event that unforeseen and potentially financially damaglng circumstances arise. It has consldered
the reliability and continuance of future income geneTatiiJn and fundfi￿, timing of cash flow and
working capital requirements and cover for ￿planned costs.
Free reseries represent unrestricted furKls of the tharfty eXcl￿J1nI restricted arKI de51gnated funds.
The determination of an appropriate reserves level is a key part of the strateglc planning process.
The Trn5tees revlew the reserves level ￿ an amual basis. along w5th the risk assessment of key
areas of income, as this provides the information an adequate level of reserve5 to be malntalned.
The severe dlsruption the chaiity has ex[￿lerKed as a result of Cov1￿19 durfng tms financial
period and the ￿gOIng risks related to Tt Is an example of why we hold such free reserves a￿1 the
Trustees are aware that we may need to utilise free reserves durinq 2021 and beyond due to the
uncertalnty currertly faced.
Tnrtees conslder therefore that it would be to Set asfde an amount equivalent to
betV￿en 40% and 60% of the forthcoming yearfs plarrnl exFEThlfture costs - for 2021 this would be
between £71J6k arKI £1,058k.
The free reserve5 at 31 December 2020 of £1.297k are £239k al￿ the range of fts reserves policy.
The Trustees aLso acknowledqe that a program of strategic irNestment fs needed at the charfty.
The Board had planned to comrnentr a programme of investment in the charity during this financial
period following the appointment of Kat Lee as Chief Executive, but this has largely been delayed
because of the pandemic.
The Trustees have agreed a defictt b￿1get for 2021 to facilitate the dellvery of strategic
improvements. Thls is expected to brfng the free reseTh￿ into the target range by the end of the
year.
Golng conc•rn
The Trustees reviewed the Family Holiday ASsocSatl￿'S financial plans in January 2021, as part of
their normal annual review. At that time, they were satisfied that there were sufficient resources
to contlNe operating for the foreseeable future arKI accounts have been prepared in the knowledge
that the Famfly Holiday Assodati¢Th is a financlally vSable organisation.
Wlth regard to the next accounting period, the yEar ending 31 December 2021. the most significant
areas that are likely to affect the tharfty's net assets aTe a treThl of declining income acr055 all
Income streams and the accompanying Fryramme of rapid investment int￿ded to turn thi5 trend
around.
10

F•nlly Hollday A59xla
We moved svAftly to erbsure our staff were able to operate remotely following government advice
in 2020 and have refined our Set up over the year. We hope to retum to a hY￿id worklng model
wlth some office based and hcffi)e working in the second half of 2021 but our capacity to 4)erate is
not affected by the ability to O) so.
We have delayed the start of Ixjr breaks season in 20Z1 to accommodate the national IKkdown and
wfll concentrdte our service dellvery the secorKI half of the year, taking advantage of the
flexibility In date5 we are aff￿ded when we breaks from other suppl5ers.
We have actively reduced operating costs as far as p055ible, wlth(Krt detrimentally impattlng on
our offer to families or capacity to ralse f￿￿. arKI we will continue to Teiiew aur plans ta identify
any further cost Savings.
The charfty has a strong balance strttt, wfth free reseThes of £1,297k and no Indlcation of any short
term cashflow shortfall. Given the availability and liquidity of these unrestslrted funds. the
Trustees believe the charfty wfll have Sufficient resources to meet its liabilitie5 as they fall due.
As such, they remain satisfied that the charfty can crtinue operatlng for the foreseeable future
and these accounts have been prepared a goirY4 c<Jncern basis.
Reference and administrative details
StatUS
The organisation is a charitable company Ifmfted
by guarantee, incorporated on 30 5epternber 1988
and havlng a share capital. The company was
'stered as a char6t
on 25 October 1988.
The Family Holiday Assodation is governed by its
Articles of Association as adopted on 30
November 2018.
02301337
800262
SC048203
3 Gainsfffd Street, London SE12NE (to
1810412021)
7-14 Great Dover Street, London SE14YR (from
1910412021)
Governing Document
-comp.any number
Charity number (England and Wales)
Charity number (Scotland)
Registered office and operational addre55
Trustees
Phlllppa Harris. C
air
hlarf( Saxon. Treasurer
Davld Burli
John Appleby
Julla Rfdgway
John de Ifial
Julie Tucker
Jacqueline Kerslake
Joelie Leader Ito 26 November 2020)
Jonathan Scott
to 9 Jul 2020
Kat Lee
from 6 Janua 2020
Barclays Bank PLC. 89 Hatton Ga
EC1 N 8DN
CBW A￿lIt Limited, 66 Prescot Street. London E1
8NN
Chief Executive
Banker
en, London
Auditor
11

Famlly Hoilday A3soctatt
Structure, governance and management
Governfrg document
The Famlly Holiday Association is a c￿lanY limited by guarantee governed by its Articles of
AssocTation dated 30 November 2018. It Is reglstered as a charity with the Charity Commlssion in
England and Wales, and the Office of the Scottish Charity Regulator in Scotland.
Appolntment of Trustees
As set out in the Article5 of Association, the Board of Tru5tee5 comprises at least three Trustees.
Board members may serve up ta two ternis of three Yea￿ from the first meetlng at which the
charfty accounts are adopted following their appointment.
The Trustees may by a 75% majority dedslon decide that exceptfonal drcwlstances apply and
accordingly that a Trustee may be reappointed for further term{5) of office.
Trustees. Inductlon and tralnlng
On appointment, new Trustees are pr￿ded with inforniatfon about the company including Its
constitution, strategy and plans, finances, staffing strutture. Their attention Is drawn to relevant
Charity Commfsslon guidar£e. They are offered the opportunity to meet w5th the chief executive
and other staff for a full briefiry C￿ the organisation's work aTrJ to vtsit the locati(Th fnTh whlch
It operates.
Organlsatl(
The Board is reSpo￿lIAe for the goVerna￿e of the charity. The Tru5tee5 delegate the running of
the organi5atlon to the chief executlve. Tr Board rrEets 6 times per year.
Trustees
The Trust&s who served during the year. aThJ their pattem of attendantr at Board meetin85, are
shown in the table below.
FAhilLY I.
HOLIDAY •
ASSOCIATION
John
leb
David Burlfn
John de Vial
Phfll
a Harrfs
Jackie Kerslake
Joelle Leader
Julfa Rid
Mark Saxon
Julie Tucker.
Jonathan Scott
Chafr
reasjrer
nla
n/a
Key nla: not In post, O: did not atterKI. X.. attended
'obsence due to 111 health
12

Famlly Hoikfay AAodatkn
The Board has delegated detailed aspects of its work durfng thls financial period to the Strate
working group. The group fs a tlme-limited with no delegated decision-making authority.
The Board mernbers who served cn the group were Phllippa Harris (Chair), Jackie Kerslake, Mark
Saxon and Julia Rfdgway alongside Kat Lee wh) served as a ctropted member of the group.
The strategy W0￿7n8 group was crtituted
To consider what the strateglc direction of charity w￿d have Ilkely been pdor to COVID-
19 to Serve as a baseline and F￿fible long-temi Strategic goal.
To investigate the potentfal 5cenari05 vthich any COVID-19 exit strategy Sh￿ld ca￿der
Incluthng tfmelines and resourdng requirements.
To take any resulting recommendatlons for actfon to the Board f(Y approval.
The Board has agreed to delegate detsiled aspects of its work to the Governan￿ worklng group
from January 2021. The group wlll be a ts￿￿limfted 8rn￿ with no delegated decision-making
authority. The Board members who will Serve on this group are Philippa Hanls {Chalr). John Appleby
and Julla Rfdgway alon¥ide Kat Lee who will Serve as a ctropted member of the group.
The governance working group wfll be c(N￿lt
To conslder the recommendation5 of the governance review in 2020
To prioritise, plan execute where appropriate attiorts requlred to implerrErt those
recommendations the group ch005e to adopt.
To take any resultlng recommendations for acticm to the Board fff approval.
To complete the FHA governance marKwl al￿ in place a schedule for subsequent annual
r&rfew and update of Its contents a5 appropriate.
The Trustees would like to reglster our thanks for the coMmftn￿t, fnput and Service of Jonathan
Scott and Joelle Leader who stepped down on 9 Jdy 2020 aTrJ 26 November 2020 respectively,
Key executlve personnel
The key executive personnel Family Holiday Associat[￿'S senior leadershlp team) at the end
of the year were:
Kat Lee, Cmef Executive; Jax Shaw, ExperferKes and Impatt Director. Tarun CIK>tsi, Finance and
Resources Dirertor (left 30 April 2021).
Mags Rivett had been appoSnted to the rcle of I￿￿ne an EngagerrEnt Director aTrJ started in
on 4 January 2021. Llz Sell joined as Dlrector of FIna￿e {interfm) C￿ 26 April 2021.
Related partles
None of the Tntstees receives remunerntion or other benefit from their worf( w5th the charfty.
Trustees are Invited to declare any relevant fnterests at each Board meeting, and formally
requested to submlt an anwal register of interests. fomi. Board ￿￿rnber5 have reported no relevant
interests or transactions.
Remuneratfon pollcy
The Board is responsfble for considering Chief Executlve's remuneration. taking account of
ski115 and experience required and sector norrrs for charities of similar 5Sze. Staff pay is reviewed
annually in relation to the external economic environment and financial affordability for the Family
Holtday Assoclatlon.
13

P￿IlY HoUdtyAs¥od•U
Kat Lee'5 salary was £70,(KX) pw annum benefits of 5%.
R15k management
The Family Hollday Association's approach ts to minimise the organisation'5 exposure to
reputatlonal, corrpliance. safeguarding and excessive finandal risk. whllst accepting and
encouraging more risk in pursuit of ow mission and strateglc objectives. The Family Holiday
As50clation's aFpetite for risk varfes according to the activity urKlertaken, and our acceptance of
rfsk Is always subject to ensuring that FM)tential benefits aNI rfsks are fully understood before
activltfe5 are auihorised, and that sensible ff£asures to mitigate risk are established.
The Board follows a Comprehensi￿ rlsk manage￿t policy which clearly defines the roles of the
Board. and senior staff in identifying and managing risk. and how the register of risks should be
Used as a live document. The Iw risks currently identified by the Board, and their mitigatlon, are
shown in the table below.
Key risk
ere Is dfsruption to our planned
ply of breaks.
Mitigation
Pre-season checks In our caravans
Close mmitorirrd of the government guklelfnes
Proactive supplier management
Diversification of purchased breals suppliers
Recrultment of specfalist staff to increase capadty In frKo
generatlon
Diverslficatfon of supplter ltst to enable competftfve
negotlattons for purchased breaks
Reiationshlp deyelopmert with key partners sKh as
Scotland and YHA. HF holiday5
cost of delfvering our seryl
rKreases more qulckly than our
ome
e are unable to secure the skil15
e need to de(Iver our strategy
Flexibility in working pattems and base locations offered
Building a stmng and positive culture
Strengthening relatlonshfps with extst5ng funder5
Scoplng wtential for new gJPFK+rters
Reauited specialtst staff fn corporate fundraising and
individual
pandemlc furKlfng prforftles If
n other areas such as NH5.
oodbanks, homelessnes5.
The T￿￿tee5 are satlsfied that apprijpriate Steps are being taken to manage these risks, and that
5uffident procedures are in place to enable managen￿t Tnstees to a55e55 effectivene55
of rlsk management.
Compllance wfth the Charfty G￿ernance Code
afm of the Charfty Governan￿ Code ts to tr￿1p tharitie5 and thelr Trustees deveiq) h1¢)
standards of governance. As a sector, we owe it to ow benefidarfes, stakeholders and supporter5
to demonstrate exemplary leadershlp and govemance. The Code is not a legal or regulatory
requirement. Instead. the Code sets the seven principles and recommended practice for good
Sovernance and fs dellberately aspirational, a tocl C￿tinUOuS improvement towards the hiqhest
standards.
14

Fpffilly A59xkntfc
We completed a self.assessment agafnst the Charity Governance Code in March 21no. This identified
a number of areas in Nvhich CAJr performance was below the expected benthmark. As a result, the
Trustees commissioned Jw Allen at Leading Governance to ccmduct an Independent govemance
The revfew recommended actlons to on
1. Creatfon of a Governance Manual and Governance Calendar Dedsian Cover Sheet and
Compliance Checkllst
2. Establishing Audit & RI￿ and Norninati(￿ & ReffAmeration Committees
Agreeing and embedding the new values
4. Tralnfng and develowent for Board merrkn Board review pr￿esseS
5. Improvlng the way that stakeh(Ath can c(￿￿ICate with the Board
The Governance Working Group will be reSp￿￿1ble for taklng forward these recommendatlons on
behalf of the Board Sn the flr5t half of 2021.
Trustee's responsibilities in relation to the financial statements
The Trustees (who are also directors of the Family Holiday Association for the purposes of cc*rpany
law) are responsible for preparing the Trustees, anNal report Tncluding the strategic report and
the financial statements in accordance wfth applicable law and UK Accountlng Standards (UK
Generally Accepted Accounting Practice).
Company law requlres the TrLStees to prepare financial Statements for each firwncial period which
give a true and falrvlew of the state of affairs of the charttable grw and of the incoming resour￿5
and application of resource5, includlng the Incixne and expenditLre, of the charftable group for
that perfod. In preparing these finandal Statements, the Trustees are required to:
SeLert suitable account5ng pollcles arKI then apply cc*￿1$tentlY
Observe the methods and principle5 in Charlties SORP
Make Judsernents arKI estimates that are reasonable and prudent
State whether applicable UK AcCC￿n9 Standards arKI statements of recommended practlce
have been followed, subject to ary materlal departure5 disclosed and explained in the financfal
statements
Prepare the financial statements (m the going c(xKern basis unless it is inapproprlate to presume
that the charlty wlll contIn￿ fn operati¢in.
The Trustees are respon￿ble for keeping pr(w aCcO￿tIng records that disclose with reasonable
accuracy at any time the financfal position of tPt charitable company enable them to ensure
that the financtal statements comply vath the C<wnpanies Act 2(￿. They are also responslble for
safeguarding the assets of the charitable compary group and hence for taking reasonable steps for
the PreVen￿On and detectfon of fraud and other irregularities.
Statement as to disclosure to our aLxlitors
In 50 far as the Trustees are aware=
There Is no relevant audlt Inf0rniatf￿ of whlch tl* charitable C￿1panY'S a￿lItorS are unaware
15

Farnlly Holfdty
The Trustees have taken all steps that tly to have taken to make themselves aware of
any relevant audit infom)ation and to e5tabl15h that the auditor5 are aware of that inforniatlon.
The Trustees are rewslble for the Maintenan￿ and integrity of the corporate aTKI finandal
Information included on the charitable company's websSte. Legislation in the United Kingd(xn
governing the p￿paratfiffi and dissemlnatfon of financial statements may differ from leglslatlon In
other Judsdlrtlors.
Auditor reappolntment
CBW Audit Ltd was reappointed as the charitable company's a￿jitOrS d￿fjng the year and has
expressed Tts wflllngness to contirnE in that capacity.
Approval
The Trustee5' arnual reM was approved by Trustees ￿ 17 June 2021 and sfjgned on their
behalf by
rfJZ
Philippa Harris
Chair
Mark Saxon
Treasurer
16

THE FAMILY HOLIDAY ASSOCIATION
INDepENDEPTfAUDITOR'S REPORT
TO THE COUNCIL OF THE FAMILY HOUDAY ASSOCIATION
Oplnlon
have audited the financial slatements of The Farrnly Hofiday A$50ciation (the 'Ch￿ for the period ended
31 Decernber 2020 whith comprise the statement of financial activititss, the sumrnary income and expenditure
account. the balan￿ Shee¢ Ihe statement of cash 11ty4ts and tha notes to ￿ fmancial statements. induding a
summary of significant accounting pclictes. The fmandal reporting frarnework that has been applied in their
preparation is applicabte law and United lfjngdom A¢countw S￿darLI5. including FRS 102 7he Finan￿e1
R8portsng Standard opplkat¥e ￿ the UK 8nd Rewth off Ireland (United lfjngdom Genernlly Accepted
Accounting Practir*).
In our opinion. the financtal statements:
give a true arKI lair blew of the State of the ¢harilai* affaiT5 a5 at 31 December 2020 ond of ils
incoming resources and •plication of resoure£s. for th8 period Ihen ended:
have been propety wepared kn aco)rdance I￿1h United IQWM Genwaty A*ed Pxountwig PraGtic•:
and
have been prnpared in Accordarui with 1ho rnwirements of the Companies Act 2006. the Charfllas and
Trustee Investrnenl (Scouand) Act 2Q)5 aThl reg￿¢kn 8 of th? Charitss Accwnts (S¢oUaNI) R¢gulaUon¥
2006 las amended).
BaslB for oplnlon
We conducted our audit in accardance with Internattonal Standards on Au(rrttng (UK) (ISAS {UK)) and appllcabl8
law. Our responslbifrtios under those standar<ts are further described in the Audiloffs rasponsibilibes for th8 audit
of the financial Statements SeCt￿n ofour reporL V4* are irKlependenl of the charity in accordance with the ethical
requirements that are relevanl to tyjr audit of Ihe financial statements in the UK Includlng the FRC'S Ethical
Standard. and we have fuffilled our other ethical responsibilities in accordance these requlrements.
beli•ve that the audit eviihrynce we hwe oblair*d is Sulf￿a￿ and approwiate to Jxovide a basls for our cpink>n.
Concluslon• relatlng to golng ¢onc•rn
We have nothing to report In re¥peci of the I￿o￿ng fflatkn in relalion to 7Athlch tho ISA5 (UIQ require u$ to
report to you where:
the CounciTs usa of the wing corKem basi5 of xcounting in the preparats)n of the financtal ststements is
not appfoprlale. or
the Council have not <ftsclo8ed in the finan&al ststements any 1denl1fi￿ material uncertainties that may
cast signmlcant d￿bt about the charitys abilty to contviue to acbpt the going concern basis of accounting
for a perfod of at l&*t iweh rnonthG from the <tst• wh•n tho fth•Kial statements arn authorised for Issue.
Oth•r Infonnatlon
The other Infonnation comprises the inf(miation ￿cluded in the annual report other than the ffnand81 statem8nts
and our audltorfs report thereon. The Councl ￿ responsible for the other infomiatlon. Our oplnlon on th8
fjnanclal statements daes not cover Ihe other irrfomiation and we do not expr￿$ any fomi of assurance
conduslon thernon.
In connectton with our audit of the fln8n(?aJ Statern￿. our responstjlty 18 to rnad the other Infomiatkm and, In
doing so, consider whether the other InfomHtion is materially inconsistent with the financial stslements or Our
knowledge obtained rn the audli or otherwse app8arn to be maiertaty msstated. If we identify such mat6ts1
Inconslstenoes ar apparent material mi55tstements, we ar8 required to detemiine whether there L8 a materfal
mlsstatement in the financial statements or a matsrial mi5ststement of the other infomation. If. based on th&
worf¢ we have performed, we Q￿Clude that there is a material mIsstat￿nt of this other infomwlk)n. we arn
required b Trport that facL
Vl8 ha￿ nothing to rewt in ttws regard.

THE FAMILY HOLIDAY ASSOCIATION
INDEPENDEKf AUDITOR'S REPORT (CONTIMIED)
TO THE COUNCL OF THE FAMILY HOLDAY ASSOCIATION
Matt•rn on whl¢h w• aro roqulred to roport by •xc•ptlon
We have nothing lo report in respect of the foknyiig matkn in relatlon to whk* the Chwitie5 (kcounts and
Reports) Regulations 2008 and the Charities Accounts (Scolland) Regulatbns 20Cfj (as ￿ended) requira u8 to
report lo you rf. in our oplnlon:
the inf(Kmatson grrfen in the finandal is inc(¥n5iStent in any rnaterlal respect *ith the Coundfs
report or
sufficient and proper accounting reconls have not been kept or
the financlal ststements are not in agreement wbth the accounting record&. ¢x
we have not recer¥ed all the hfftinn8tTh and wlanalion5 ￿ rwulre k•r ow audiL
R•8poMlbllltl•B of Councl
A5 explained more fulty in the statenwt of Councifs re5pmsb￿, tr* Coun￿, who are also the threctorg af
the charity for the purpose of crmpany Ivw. are responsbl8 for the preparation of the financial statements and for
being sattsfied that they gtve a true and fair vm¥. and for Swh intemal conlToI as the Councll detennine is
necessary to enable the weparali¢Jn of fmncral Stalen￿nts that we frne fram rnatsrlal wl8StatemenL whether
due to fraud or error.
In preparing the financial statements. the Coun￿1 •e wponslble for assessww th8 abilty to continue as
a going ¢oncem, discloslng, as applicable. rnatters related to going concern and usSng the goyw concem basis of
ac£ounting unless the Coun¢il eilher intend to liquidale Ihe tharitable COMP￿ ￿ to cease operAtions. or have
no mllstic altemalive but to do sa.
Audltorf• rMponslblllU•8 for tho aud* of the fln•nclal Blai•m
have been appointed as auditor under sqckn 144 of Ihe Charties Pd 2011 w*d section 44{1){c) of the
Charitres and Tnjstee Investment (Sco11and) 2005 and rewi in accordance with the Acts and relevant
regulations made or havtng effect thereunder.
Our objectsves are to ubtstn reasonable assurance abrArt whether the fffrnncial statements as a whole are fr••
from material M￿ment whether due to fraud ￿ ernr. and to tssue an audllorfs repryl that includes our
oplnion. ReasOn￿e a5surdft￿ is a h*3h level of assurance but is not a guarantee that an audit conducted in
8ccordan¢e with ISAS (UK) will al4Yays d8tect a materlal missl*ment when it e￿515. Misstatements can arise
from fraud or error arKI *e considered material il, IndNiiduaty or in the aggregat&, Ihey could re350nably be
expected lo Infiuence the econorrKc derision5 of uws l*en on basls of these financial statements.
A further de6¢rSMlw of our responslblllties for the audit cl the financial statwnents 15 located on the Finandal
Reporting Council's website at: hllpsJlW#.￿l￿￿L￿j￿￿knyEVn6lt1lItI?$. This descripth)n fomis part of our
auditors reporL
fr olour Mport
Thi5 f8FIDrt Is made solety to the charitrs trustee5, a5 a W. in accortsce wKh part 4 of the Charittes
{N£counts and Reports) Regulatlons 2008 and regulation 10 of the Charitles Accounts (Scotlandl Regulattons
2006.
audit work has undertaken so that we might state to the charibks trustees those matters we are
requl
tate lo them in on autkors. report and for no othw pur1x￿e. To the fullest exiwrt ￿miItted by law, v
t or assume ￿SponsIbl1ty to anycYM> other than the th&ity and the thaiTtrfs trustees as a b￿ly, for
rthis
for th• OFMnions ha￿ Icm)ed.
our
dlt
Paul Woow {S•nlor Statutory Audtto
for and on behalf of CBWAudft Umlt•d
Chart•r•d A¢¢ountsnts
Statutory Audltor
66 Prescot StsB8t
LondDn
E18NN

THE FAMILY HOUDAY ASSOCIATION
INDEPENDENT AUDrroR'S REpoKf (CONTINUED)
TO THE COUNCIL OF THE FAMILY HOUDAY ASSOCIATION
CBWAuifrt Limited is afigble for app)Intrn8nt as au(rrtor of the charity by of ils efigbiw for appokrtment as
auditor ofa company under of section 1212 of the Companies Act 200&

OP4

¢¥J
•) e• ¢

THE FAMILY HOUDAY ASSOCIATION
SUMMARY INCOME AND EXPENDrruRE ACCOUKr
FOR THE PERIOD ENDED 31 DECEMBER 2020
All Incom• funds
Perfod
endod
31 D•c•mber
2020
31 August
2019
Gross ncome
I.934￿3
1.9CI8.529
Total expendlture fram income fvnds
1,202,184
1,498,C67
Net kncome for th• p•rlod
731379
408.462

THE FAMILY HOLIDAY ASSOCIATION
BALANCE SHEEr
AS AT 31 DECEMB￿1 2020
2019
xed as80ts
Tangible asse18
Investments
14
Is
230,647
130.481
301,537
127.515
361.128
429.052
Currnnt oM•ts
Debto
Cash at bank and in hand
133.543
1.SKI,445
128.029
717,227
1.n3,988
845,256
Crndltor8: amounts hlllng du• wtthln
one yoar
17
(94.rffi)
(34,378)
Net cuThent assets
1.629.925
810.878
Total a•B•ts1•88 ¢urMnt I1￿11￿1
1,991.053
1,239.930
Provl•lon• for IlabHIII88
(1 &500}
Nèt a88•ts
1.972.553
1,239,930
Capltal fund•
Endowffent funds
Incom• fund•
Restric￿ funds
130,481
130.238
102.741
Designated funds
General unrestricted funds
480,647
1258.684
1.109.692
1.739.331
1,109,6W2
1.972.553
1.239,930

THE FAMILY HOUDAY ASSOCIATION
BALANCE SHEEr (copinNUED)
AS AT 31 DECEMBER 2020
The cornpany 15 entilled to the exerytion from the autht requTrwMnt conlalned In section 477 of the Companles
Act 20LE, far the period ended 31 December 2020, although an audtl has been canied out undw Sect￿￿ 144 of
the Chariti8s Act 2011.
The dlrectar aCknu￿ge5 her reswJnsiLMliti8s enwrDvJ that th• thaiity keep5 accountlng recorfs whlch
compty with section 386 of the Act for preparing financial ststhents which give 2 true and falr vlw of the
state of affairs of th8 company as at the end of the financial year and of its incoming resouw and app￿tAtIOn of
resources, including its income and eypenditure, for the finan¢tal year in accordance wrth thé rnquirements of
sections 394 and 395 and which otherwise compty wlth the requirements of thè Cryni•B Act 2006 relating to
finandal statements. so lar as a￿￿cable to the company.
The members have nol required Ihe compary to obtain an audit of its ffftarti81 statements the
requirements of the COmpar￿e$ Act 2006. the per￿ in questsn in accordance ￿ryth seclion 476.
These financial statements have been wepnr•d in acc(Xd￿ wlth ts provwjns awllcable to cLryanie8
4e¢t to the small companles
The ￿arKI31 statements were apprrpMd ty the C￿n￿l on ...-....................
Ms PA Harris (Chair)
Tn￿ts•
Mr M J C Sax(m (Treasurer)
TruBt••
Company Rogl•tratlon No. 02301337

THE FAMILY HOLIDAY ASSOCIATION
STATEMEKf OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2020
2020
2019
Cash flovm from oporathg a¢tlvttl
Cash gonerated I￿rn Opwati￿S
315.225
Invostlng acllvltl•s
Purchase oftsnglble flxed assets
Proceeds on dIsw$￿ ol tangble frxed
assets
Investrnent income receivad
(19.132)
(42.277)
4.746
Nat cash u•0d In Inv•6tlng a¢tlvlll•8
(10.864)
(14,878)
Not ￿•h Us￿ In Ilnanclng acllvJtl••
N•t Incr•aM In ¢a8h and cash •quIV￿On￿
873,218
300.347
Cash and cth eqiThdents at ￿￿nring of
717.227
416.880
Cash and ¢•8h •qulvalMth at •nd of p•rfod
1.590.445
717,227

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE PERIOD ENDED 31 DECEMBER 2020
Accountlng poll¢l••
Chartty Infonnatlon
The Famity Hdklay Associati￿ is a ￿vate eompary limited ty guarantee iKorpordted In Englond and
Wales. The reglslered office is 7-14 Great Dover Stree( LoThJon. SE14Y
1.1 Accountlng conv•ntlon
The finanual slatements have been in accordance *ith Ihe tgoveming docuThntJ, th•
Companles Act 2006, the Charities and Trustee Inveslment (Scotlandl Act 2005, the Charibes A£counts
(Scotland) Regulation5 2006 (as arrwded) and "Accounting and Rewbng by Charities.. Statement of
Recommended Practrce applcable to charities preparing their acro￿ts in arxordanc¢ wrth the Finanoal
Reporting Standwd applicable In the UK and Republic of Ireland (FRS 102) {effectiv8 1 2019)"
The charity 15 a Put￿¢ Berrfrt Entity as dthed by FRS 101
The financial staten*nts are ryepared in *kng. is the functional Guwerry of charity. Nkjnetsry
amounts In these ffinon¢io1 StsteM￿ are rounded lo the r*arest L
The finanrial statements have been prepared under Ihe historical cost convenll¢Jn, rnod￿ed to indude the
valuallon of freehold properties and to Indude inveslrnent propwties arxl (xrtain financial instruments at
falr value. The principal accounting pcliues adopted are set out below.
12 Golng conmrn
Al the time of approvlng finani?al slateM￿. Iho c(￿r￿ ha￿ a reasonabl8 eypeclatton that the
charity has adequate resour￿ lo rnntinue in werntional ext6tence for the foreseeable future. Thus the
Cwnal continue to alLyt Ihe wing bBsis ofaw)iwtsy in wepariTrJ the finanGWt stat*nent&
IA Charltable fund•
Unrestricted fund5 are avall*)le tr use at the of the C0￿clI in furtherance of thelr tharilable
objectives.
Deslgnated funds ctynpri¥e funds which have been set aslde al the discxelion of the Council for speclfic
Purposes. The purposes and usps ol the de%gnated funds are set out in the notes to the finanGlal
slatements.
Restrlcted fvnds are suiyect to spedfic (Thrfrti￿ by donor5 a5 to they may be use(L Tho pu
and uses of the restsicted fmds are set out in the notes to the finwclal statemen
The endowment fund Is represented ty kxw temi Investhxnf4 the I￿(The fr(xn whth rny be used for
charity's general PLYpose
IA Incom•
Income ig recognised when thè charity is legalty wrtitled to It after any perforn)￿Ce condittons havé b••n
mec the amounts can be rr￿Sured reliabIy. arKI it ts wobth that inry)nx bè raceivod.

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKrs (cop¥nNUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
Accountlng pollcl
{Contlnugd)
Cash donatlons are recogNsed on Other drmatwm are recognlsed onea the charity has been
notrfied of the donation. unless perfomiarKe conditkns requlre deferrdl ￿ the amounL Ir￿me tax
recoverable in relatIL￿ to donaions rerni¥*d under GiftAKI or deeds of covenant is recognised at the tirne
of the donati¢)n.
Glft8 in kind receI￿d knclude th8 wow5ion of free holday4 design. iThtsng and publicty. Due to t1￿ vari•ty
of types and sources af donated advertising, PR seNice4 nsurance and holKlay LvJoking savices, it is not
¢￿￿dered possble to value thes& However. the eslinated valu? of ￿nUal report printing and cartan
speufic donated holidays and travel arrangements are MKluded in the statsment of f￿an￿al acbvibes as
Incomtng resowras expended when we distnbutsd.
Lega¢¢es arn racognised on receipt c* otherwlse ¥ the charity ha5 been notified of an iwpending
distrknutlon. the amount is knryAn, and re¢eyt18 expe(W. If 7mDunt ts not kn￿￿. the legacy is treated
a contingent asEeL
1.5 ExP•nd1￿I•
Lwbilities are recJ)gnt5ed as soon as there is a legal or constructive obligation commlillng the Council to
the axpvnditure. All exwditure is 8c%ounted for on an ac¢n￿ basis and has been clAssiThed under the
headings thal aggragate all costs related to the ¢atsgiJy.
Costs of generntlng fund5 ccryrise of ts costs aswciatid with attsactiry voluntsry income and
invesknert m￿ag￿nent fees.
Grants payaLq8 arn payments made to thwd pBths in the furthernnce ofthe ch•itabl8 objective&
Gov•rnanc• costs
Govemance costs include costs of the W8Wdtion aKI examination of the Statutory accounts, tho costs of
trustee me8ting$ and the cost of any Ipgal advKe to the mernb•rs on gtymnance or consliluuonal
matters.
Support costs
Support costs includ• c•nlral fuKtv)ns 8nd h8¥e been akcated to activlty cost categ￿1¢8 on a basls
consistent with the use of res(wJrtes for exarrple alloc8tWbg costs ty floor areas or per capila.
staff costs by the time spent and other costs by ther us&
1.6 Tanglbl• flx•d aM•t•
Tangible fixed assels are initialty meawred at t))st WKI subsequ*)ty n*85ured * G05t or valualiDn. net af
depreciation and any knpatm)ent kMe&
Depreciation is recognlsed $0 a5 to write off the cost rr of 8s58ts1•5s thèr rnsKlual vakws ovar
their useful lives on the following ba￿.
Carnvans
Offte eqU￿Ment
12.5% straight kne
25% str￿t kn•
The gain or loss arising on Ihe disposal of an asset [5 detennwied a5 the dtfference tthRen the sal8
proceeds and the carryir#J v2lL* ofthe asse( and is recwisad in net incom81(expenditire) for the year.

THE FAMILY HOLIDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKfs (Coll￿ED)
FOR THE PERIOD ENDED 310ECEMBER 2020
A¢¢ounilng pollcl
(Contlnu•d)
1.7 Fhted aM•t Inv••lm•nts
Fixed asset Investrnents are initiaty measured al transaction price exduding tMsactK>n costs, and are
¥ubwuenfy measured at falr value at each reporting date. Changes Ni fair value arB recognised In net
incomellexpenthtwe) lor Ihe year. Transactlon costs are expensed as incufred.
1.8 Impalmi•nt of Ilx•d ••Mts
At each rwbng end date. the chwity the rxrrying amounts of tts tang￿ assets to deterniine
whether there is any indication that those assets have suffered an Thpawrn8nt If ary such iNlicatron
exists. the recoverable amaunt of the asset is estimated in order to determin8 tho extent ofthe inyiment
1055 {11 ary).
1J Cash and cash ￿U1val9Trts
Cash and cash ￿Ul¥d￿nts irthe cash in h￿d. de[￿$1￿ held at call wlh b￿ks, other short4wm Itquid
inveslments wtih orlglnal maturibes of three months ty I￿. and ovwdraft& Bank overctafts are
shNn withln bOr￿4￿ng$ In current liab￿rtIeS.
1.10 Flnanclal Instrum•nts
The charity has elected to ath th• wowsk)ns of Section 11 'Bas￿ Fhandal Inthments, and Section 12
'Other Financial Instruments Issues. ol FRS 102 to al of its financlal inthments.
Flnandal Instrmnts arn ￿[sed in the sh88t vthen the thaiity becomes paty b the
contractual FYo¥r5ions of the tnsbvmenL
Financtal assets and liatrAliti88 we offse( ￿ the net amounts presented in the financial 5tatern￿, *then
there is a leg81ty enforceat4e right to set off the wnlsed amounts arnl there is an intention to settlè on
net basis or to realise the asset and settte the liabibty slmultweousty.
asle ffnan¢lalassets
Basic fjnancial assets, whlch include debtorn aThJ cash and barth balances. are Initialty measured at
transactron prfce Indudiig transaction costs and are sthequenty canied at wnortl8ed cost uslng the
effective interest melhod unles5 th8 arrangement ¢or*litutes a financing transacoon. where the transaction
is measured at the present value of the fubjrn receipL8 discounted at a market rate of inter66L Financial
a85ets ctsss5fied as r&%i¥able within ane year ¥e not amortised.
Bask flnandal IlabHItl•g
B￿C finencial liabilittes, Ind￿lIng Nedith and ar• knilialy retxgnised at transaction prke
unless the arrangement const*utes a fjnanang transaction, whern Ihe debt instrument is measured at the
present value of th8 future payments discounted at a mathel rate of interesL Financial liabiltbes classlfied
as payabl? ￿rythin one y￿r are not amortisoa.
Debt instnments are subseryRnty cansed at cosL the dfective krterest rnte metho
Trade credlth are obligatrons to pay for 9￿d$ or sepAces that have been acqutred h the ordlnary o)urse
of operations frryn supplier5. Amounts payable are Classifi￿ as current liabli rbes ff payment is due wtthin
one year or18ss. If noc they are preserrted as r￿n<ullent liabilrbes. Tradè ttedrtors are reoyjnised initialty
al Iransathn price and subsequenty measured at arnortised cost U5ng the effethe interest method.
Derncognldon of ffnanclal Ilabllitles
Financlal Ilabilitles are derecognised when dwrWG contrxtual Ob￿gationS explre or we (ffischarged or
ancelled.

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKrs (coKnNUED)
FOR THE PERIOD ENDED 31 DECEIIBER 2020
Accountlng pollcl
IContlnu•d)
1.11 ProVI￿On8
Provisi0r￿ are recogntsed when the (*affty has a legal or con5trucU¥e present 01￿19ation a5 a result of
past evenc it is probable that the Charity be reqwed to selde that oblhJaUon and a rnuable estlmate Gan
be made of the amount of the obhgalion.
The arnount recognised as a provig#M is bast estKnat• of the ¢￿SideratiOn r•quir•d to Sett￿ th•
present obligation at the reporbng end date. t*ng into attounl the rfsks and uncertaintles surrounding the
obligation. V¥hete the effect of the time value of monty is material. the amount expected to be requlred to
tue the obligation is recognised at rxesent value. When a provision is measured at present value, the
unwindlng of the dixount is recawised as a fffwice cost in net inra)mel(expenditure) in the period in *thi¢h
it arises.
1.12 Employw b•n•llts
Tho u)st of any unused h￿Id￿ entilleM￿ rs recognised in the *thich the I￿pI￿O,S 5eNiceG
Temlnallon benefits are recogn￿1 ￿nrr￿￿ as an expense when the charity 15 demonstrably
txmmitted to temilnate the empbyment of an eryloyee or to terminal>Jn beneffts.
1.13 R•tlr•rnont benoffts
Payments lo defined contrbutlon retlremenl benrfrt arn d)*gad as an expanse as they fal due.
1.14 Fund a¢¢ounllng polky
unrestric￿ income funds ￿ genwal funds that afe 8val*le for use al the Cou￿r$ dlscrellon In
futherance of the objectives ofthe charity.
Further delails of eath fvnd we dl8thsed In rnte 18.
Chang• In accountlnq ￿lIcY
The Charity has revised its estimate of the usdul econo￿ Ife of caravans - from 10 years to 8 years
during the year. This is an the Tnth's assessment that the caravans are usualty sold after 8 year
therefore. the depreciation thaTge should reflect tlms. This came into effect on 01 September 2019 and tha
change was applied pro4JaCti¥ety. As a resulc a priN WK)d ajustment 15 not requyed.
Crftkal a¢¢ountkng ••tknats• and Judg•m•nts
In the appiication of the tha11￿S accounting polioes, the Counctl are rewired to rnake judgement
estimates and assumptions &Sout th8 canwng amount of assets and llabimies that are not readily apparent
from other sources. The estynates and associated asswrptians are based on historical experience and
The esti￿rat•S and undertying assumplions are miewed on an ongoing basi& Revisions to accounting
estimates En recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of thg revIs￿n and future periods where the revision affects both current and future
periods.
Management do not consKler there to b8 ary matsria Il￿ (x estimation and u￿Ortalnty r•quiring
disclosure.

ThE FAMILY HOLIDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKfs (COPrnNUED)
FOR THE PERIOD ENDED 31 DECEIIBER 2020
Donatlon• and l•gacl••
fund8
q•n•ral
2020
fund8
fund5
general
2019
2020
2020
Donations &)d glfts
575.579
1.085.437
191,650
767.229 1.41i0,982
1.085,437
500,801
1.661,016
191.650 1,852,866 1P01,783
Investmonts
funds
g•n•r•l
2020
funds
géner
2019
Income from listed investrnanis
Interest receiv*Jle
5,791
2.477
1.512
8.%8
4,746
Oth•r Incomo
Unv•8trlcl
lunds
gon•rnl
Total
2019
CVJRS grants recei¥*Je
73,629

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEKfs {CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
Rahlng fvnd8
Unr••trlct•d Unrestrlctèd
fund•
funds
g•n•ral
ganeral
2020
2019
staging fundratsing events
Staff costs
Support o)sts
91.914
218,958
252.114
84,287
219,016
Costs of generatyig vokmtsry in(xffio
562.986
303.303
562,986
303,303
Ch•rft•bl• acdvld
Dk•¢t
Dlr•ct
act1v1t1￿ actlvltl•8
2020
2019
staff casts
Depreclallon and ryairment
216.503
75,223
241960
291.r26
242.960
Grnnt funding of actrth (see note 9)
149,919 643,445
Share of ￿Pport cost5 (see nt* 10
Share of govwnance costs (see note 10)
174.115
23.438
294,587
13.772
639,198 1.194.764
An•ty818 by fund
Unrestrrcted funds- gen•r81
Restricted funds
550,289 1,194,764
88.gX19
639.198 1,194,764

THE FAMILY HOUDAY ASSOCIATION
>TES TO THE FINANCIAL STATEMENTS {COPrnNUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
Grants payabl•
Dlrect
Dlrect
actlvltlos actrrflties
2020
2019
Grants ta instituiior
Grants to kndlwdu81$
149,919
643,445
149,919
643,445
10 Support eO8ts
Support Governance
2020
SuFVOrt Goveman
2019
218.360
111T13
218.360
113,773
79.530
86.347
5.428
79,530
88,347
5,428
E5tsbli5hment costs
Printing, and
stationary
Subxripttons orKI
donations
Sundry and other costs
Travel and subsistence
Bank charges
Depreclation
(PfofityLoss an salo of
fixed assets
4,700
4,700
2,195
68,496
2.195
68.496
1,e03
36.371
1,422
4,270
61504
1,803
36.371
1.422
4,270
65,504
5.054
25209
25.209
(10.411)
(10.411)
9212
9,212
Legal and prrrtesthnal
14.438
14.438
5.372
8.41)0
5.372
8,400
Audltors rwnuneration
426,229
23.438
449,667
294,587
13,772
308,359
Anatysed betwe
Fundraising
Charitable acUv6ttes
252.114
174,115
252,114
23.438 197.553
294￿87
13,7T2
308,359
426229
23.438
449.667
294.587
13.772
308,359
The allocatlon of sUPPOrt costs to Furthlsing is unus• IW kn the per￿d wen Ihe restsktlon8 Imposed
on our tharltsble acbwty thJring the Cowd pandemi
GoveTrBnce costs ind￿185 payments to the wditors c1£8,40012019: £8,41XI) for autht fees.

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEpifs {COlrnNUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
11 Councll
None ofthe Councl (or any pw50ns connected with them) recer￿ any rernUne￿n thJrinq the period.
12 Employ
Th• average monthty numberof emKdoyees the Perh￿ wa
2020
Numbor
2019
Numb•r
Experfence and Impact
Income and Engagement
Swrt
Total
12
13
Empknyment cost•
2020
2019
nkges and 8al8rfes
security msts
Other pension costs
585,868
45,193
22,760
471,833
37,799
31,874
653.821
541,506
The number of emFtyes ￿ ￿nUal remuneralw)n was £60,OLXI or
more ware:
2020
Numbor
2019
Numb•r
£80.000- £70.000
13 N•t gaIn￿lI(￿￿) on Inv••tm•
Endowm•nt End¢y4vm￿t
funds
fvnds
21Y20
2019
Revaluation of Investsnents
243
4.345

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEpirs (coKriNUED
FOR THE PERIOD ENDED 31 DECEMBER 2020
14 Tanglbh flx•d a8••t•
Offic•
•wlpm•nt
Co•t
At 1 September 2019
Additiorr&
Disposals
456,989
33.663
(41.198) N.782)
156,986
613.955
33.663
{105.980)
At 31 December 2020
449.454
92,184
541,638
D•pr•clatlon and Impalmi•nt
At 1 Septeff*er 2019
Depreciation charged in the perfod
Eliminated in respect ol disposals
205,302
107,117
75.223
25,209
(37.078) (64,782)
312,419
100.432
<101,860)
At 31 December 2020
243.447
310,991
Carrylng amount
At 31 Deceffajer 2020
206,007
24.640
230,647
At31 August2019
251,687
49,850
301.537
Office eqU￿rnent inchjdes I￿okIng system Lrf£81.000 at cosL
15 Flxed 08•et Invo8tm•nts
Unll¥t•d
Inv••kn•nts
Cost orvaluallon
At 1 Septertier 2019
Valuation chang85
127.515
At 311)ecemb8r2020
130,481
Carylng amount
At 31 Oecember 2020
130,481
At 31 August 2019
127,515

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEMEpifs (CONTINUEI)
FOR THE PERIOD ENDED 31 DECEIABER 2020
16 D•btor6
2020
2019
Amounts fallno du• *lthln one year.
Other debta
Prepayments arKI accwed Incomè
8,750
124,793
3,029
125,000
133,543
128.IY29
17 Cr•dltov8: amounts falung due wlthln one yev
20
2019
othertaxauon aNI sacial seuxity
Trade Creditors
Other creditors
Accruals defeffed inrxjme
5.942
66.739
738
20,644
9.661
15,402
915
94,063
34,378
18 Provlslons for Ilabllltle•
2020
2019
Provision for thpidalio
18,500
Mt)*ments (Jn provis
Provhlon for
dllapklallons
Additsonal prDVI￿anS in the year
18,5LXI
19 R•tlr•m•nt b•n•fit •ch•m•s
Dofin•d contrlbutlon sthem
Tho charity (Jperates a defined c0n1n￿Uti0n pension sch8me for all qL•lng emp￿YeeS. Thè assets of the
stheme are held separately fram those of the chartty in an h-*dependenty administered fiJnd.
The charge to profft or loss in r•spect of deftt￿ s(*rn wag £30,930 {2019: £31.8741

THE FAMILY HOUDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEME1￿5 (coi¥nNUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
20 D•sIgnat￿ fund•
The income fuNJ$ of Ihe djarity indude the followirs dew fvnd5 which hm been set aside out of
unrestrvaed fund¥ by the tsust¢es for specific purposes:
ov•m•nt
kn fund¥
31 D*•mb•r
21)ZO
X119
F￿￿A$Sets Fund
Digital Investment Fund
230.647
250,000
230,647
250.000
480,647
480,647
Flxed Asset Fund whlch equ*s trj the arrwjunt at the top of the Balance Sheet as the earying
value of caravans and office equiFYnent This matching of Designated Funds to the fixed assets means that
the amount in unrestricted fur#Js more accurately. This matching of D85ignated Funds to the fved assets
means that the amount in unrestricied funds xcuralety wsents that is ayallable to
spend.
Dlultal Investmerrt Fund eamiarked for th8 tArrk to imwova charitys dlgltal ec
system and enable the delivery of th8riVs strategr awrn.

THE FAMILY HOLIDAY ASSOCIATION
NOTES TO THE FINANCIAL STATEp*pif8 (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2020
22 OperntlTtg l•as• commlthi•nts
At the reporttng end date the thaity had txrtst￿thw (xThmilnwnt8 for firtur8 minimum lease paym?nts
urKler nOn4ancellab￿ (wating leases. whkh fal thè as f￿￿.
2020
2019
Wthin on• y•ar
BefvRen two and fve year6
21,667
61000
65.NJO
21,667
130.000
23 R•lat•d party tran•acdon8
Th•re were rK* disdosable rekited paty transaclirms thmiig Ihe perKxI (2019. nonel
24 Contlngants aM•t•
The charity has received part pa>Thent frorn a larye legy lyjt the estate management wa• halted to
the death of the executor. There is now signifKant uncertalnty around the current Yalue of the estate
assets (IndudSng commercial aThl a non4JK based inveslment porttdio) or when they will be
reallsed. As the legxy cannot be reliabty moasured ￿ oulslanding amount is not yet being recognlsed In
the accounts.
25 Cash g•n•ratsd from oporatlons
2020
2019
Surplus for the parfcrfl
731622
412,807
Adjustments for.
Invesknent income recognised in ¥tatement of fffianc4￿ adiths
{Gain)Aoss on dlsposal of tsngtiile fixed assets
Falr value gains arKt losses on investrmnts
OeFnuatx>n and impairment aftaTrJible f￿1 assets
{8.268}
(10.411)
{243)
1￿,432
(4,746)
9,212
{4.3451
65.504
Movements wi worklng capi*
(Increa￿) in debtors
Increasel(decre8se) in creditus
{Deuease) in pThisions
18,2351
59,685
18,500
(124,366)
(38,841)
Cash g•n•rat•d from 0￿1*110n*
884.oe2
315.225
26 Anaiy818 of ¢hang•8 In n•tfund8
The charfty had no debt G￿rng the yew.