2021-12-31-accounts - The Ian Parry Memorial Fund

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

REGISTERED CHARITY NUMBER: 803797

`REPORT OF THE TRUSTEES AND`

`UNAUDITED FINANCIAL STATEMENTS`

FOR THE YEAR ENDED 31 DECEMBER 2021

`FOR`

`THE IAN PARRY MEMORIAL FUND`

Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

THE IAN PARRY MEMORIAL FUND

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021`

	`Page`
`Report of the Trustees`	`1 to 2`
`Independent Examiner's Report`	`3`
`Statement of Financial Activities`	`4`
`Balance Sheet`	`5`
`Notes to the Financial Statements`	`6 to 9`
`Detailed Statement of Financial Activities`	`10`

DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`THE IAN PARRY MEMORIAL FUND`

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 DECEMBER 2021`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Toadvancetheartofphotographyfrthebenefitofthepublicwithoutprejudice.Alsoto annually
award a young photographer of exceptional ability.

`Significant activities`

Therecipients,withthesupportofthescholarship,havegoneontoproducebodiesofwork that
havebeenseenbyhundredsofthousandsofpeople,bothinphysicalexhibitionsand virtually
throughpublicationsinTheSundayTimesMagazineandotherpublications,andonline.The visual
narrativestheyproduceshinealightonissuesaroundtheglobe,fromconflict,naturaland made
madeenvironmentaldisasters,povertyanddisplacement.ThesupporttheScholarshipoffers and
thespotlightonitsrecipients,enablethemtocontinuewiththeircareersas documentary
photographers,whointurnhavegoneontowinprestigiousawardsandberepresentedby the
most influential photo agencies, like Magnum and VII.

`FINANCIAL REVIEW`

`Principal funding sources`

The fund is totally reliant on income from donations.

Duringtheyearthefundreceiveddonationstotalling£101,391andprizewinnersreceived£3,473
Attheendoftheyearthefundhadunrestrictedreservesof£53,235carriedforwardtothe next
year.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutes an
unincorporated charity.

`Recruitment and appointment of new trustees`

Newtrusteesareappointedbytheexistingtrusteesandserveforfiveyears,afterwhichthey may
put themselves forward for re-appointment.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

Abbots Hall
Shalford
Essex
CM7 5HG

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`THE IAN PARRY MEMORIAL FUND`

`REPORT OF THE TRUSTEES`

`FOR THE YEAR ENDED 31 DECEMBER 2021`

`Trustees`

Ms H Logan
Ms R McClelland
T Stoddart
C Parry
A Sullivan
J Jones
J Parry

`Independent Examiner`

Tayler Bradshaw Cambridge House 16 High Street Saffron Walden Essex CB10 1AX 07 April 2022

Approvedbyorderoftheboardoftrusteeson.............................................andsignedonits behalf
by:

..................................................................
A Sullivan - Trustee

Page 2

DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE IAN PARRY MEMORIAL FUND`

`Independent examiner's report to the trustees of The Ian Parry Memorial Fund`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheIanParryMemorial Fund
(the Trust) for the year ended 31 December 2021.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccounts in
accordance with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145of the
ActandincarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenby the
Charity Commission under section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomy attention
in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I havenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexamination to
whichattentionshouldbedrawninthisreportinordertoenableaproperunderstandingof the
accounts to be reached.

Emma Farquhar
Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

Date: .............................................

Page 3

DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`THE IAN PARRY MEMORIAL FUND`

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021`

		`31/12/21`	`31/12/20`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`		`101,391`	`20,410`
`EXPENDITURE ON`
`Raising funds`	`2`	`54,634`	`15,645`
`NET INCOME`		`46,757`	`4,765`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`6,478`	`1,713`
`TOTAL FUNDS CARRIED FORWARD`		`53,235`	`6,478`

The notes form part of these financial statements

Page 4

DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`THE IAN PARRY MEMORIAL FUND`

`BALANCE SHEET`

`31 DECEMBER 2021`

		`31/12/21`	`31/12/20`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`CURRENT ASSETS`
`Cash at bank`		`74,927`	`6,718`
`CREDITORS`
`Amounts falling due within one year`	`5`	`(21,692)`	`(240)`
`NET CURRENT ASSETS`		`53,235`	`6,478`
`TOTAL ASSETS LESS CURRENT LIABILITIES`		`53,235`	`6,478`
`NET ASSETS`		`53,235`	`6,478`
`FUNDS`	`6`
`Unrestricted funds`		`53,235`	`6,478`
`TOTAL FUNDS`		`53,235`	`6,478`

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 07 April 2022

.............................................
A Sullivan - Trustee

The notes form part of these financial statements

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

THE IAN PARRY MEMORIAL FUND

`NOTES TO THE FINANCIAL STATEMENTS`

`FOR THE YEAR ENDED 31 DECEMBER 2021`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102, have
beenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
RepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'and the
CharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharity has
entitlementtothefunds,itisprobablethattheincomewillbereceivedandtheamount can
be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferof economic
benefitswillberequiredinsettlementandtheamountoftheobligationcanbe measured
reliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesona basis consistent
with the use of resources.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesat the
discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotesto the
financial statements.

continued...

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

THE IAN PARRY MEMORIAL FUND

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`2. RAISING FUNDS`

`Raising donations and legacies`

`Raising donations and legacies`
	`31/12/21`	`31/12/20`
	`£`	`£`
`Support costs`	`685`	`360`
`Investment management costs`
	`31/12/21`	`31/12/20`
	`£`	`£`
`Administrative expenses`	`27,994`	`7,594`
`Aggregate amounts`	`54,634`	`15,645`

`3. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December 2021
nor for the year ended 31 December 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2021norfor the
year ended 31 December 2020.

`4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

	`Unrestricte`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`20,410`
`EXPENDITURE ON`
`Raising funds`	`15,645`
`NET INCOME`	`4,765`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`	`1,713`
`TOTAL FUNDS CARRIED FORWARD`	`6,478`

continued...

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

THE IAN PARRY MEMORIAL FUND

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`5.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`31/12/21`	`31/12/20`
			`£`	`£`
	`Trade creditors`		`21,452`	`-`
	`Other creditors`		`240`	`240`
			`21,692`	`240`
`6.`	`MOVEMENT IN FUNDS`
			`Net`
			`movement`	`At`
		`At 1/1/21`	`in funds`	`31/12/21`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`6,478`	`46,757`	`53,235`
	`TOTAL FUNDS`	`6,478`	`46,757`	`53,235`
	`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`	`Movement`
		`resources`	`expended`	`in funds`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`101,391`	`(54,634)`	`46,757`
	`TOTAL FUNDS`	`101,391`	`(54,634)`	`46,757`
	`Comparatives for movement in funds`
			`Net`
			`movement`	`At`
		`At 1/1/20`	`in funds`	`31/12/20`
		`£`	`£`	`£`
	`Unrestricted funds`
	`General fund`	`1,713`	`4,765`	`6,478`
	`TOTAL FUNDS`	`1,713`	`4,765`	`6,478`

continued...

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

THE IAN PARRY MEMORIAL FUND

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`

`6. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`20,410`	`(15,645)`	`4,765`
`TOTAL FUNDS`	`20,410`	`(15,645)`	`4,765`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1/1/20`	`in funds`	`31/12/21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`1,713`	`51,522`	`53,235`
`TOTAL FUNDS`	`1,713`	`51,522`	`53,235`

Acurrentyear12monthsandprioryear12monthscombinednetmovementin funds,
included in the above are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `121,801` `121,801`	`Resources` `Movement` `expended` `in funds` `£` `£` `(70,279)` `51,522` `(70,279)` `51,522`

`7. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2021.

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DocuSign Envelope ID: 86B4052E-7C9B-45AE-ACFA-102318A51FF6

`THE IAN PARRY MEMORIAL FUND`

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`
`FOR THE YEAR ENDED 31 DECEMBER 2021`
	`31/12/21`	`31/12/20`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Income`	`101,391`	`20,410`
`Total incoming resources`	`101,391`	`20,410`
`EXPENDITURE`
`Other trading activities`
`Event expenses`	`21,452`	`-`
`Prize winners`	`3,473`	`5,500`
`Website costs`	`-`	`1,250`
`Storage costs`	`1,030`	`941`
	`25,955`	`7,691`
`Investment management costs`
`Administrative expenses`	`27,994`	`7,594`
`Support costs`
`Finance`
`Bank charges`	`85`	`34`
`Governance costs`
`Accountancy and legal fees`	`600`	`326`
`Total resources expended`	`54,634`	`15,645`
`Net income`	`46,757`	`4,765`

This page does not form part of the statutory financial statements

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