REGISTERED CHARITY NUMBER: 803797
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
THE IAN PARRY MEMORIAL FUND
Tayler Bradshaw Cambridge House 16 High Street Saffron Walden Essex CB10 1AX
THE IAN PARRY MEMORIAL FUND
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 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 |
THE IAN PARRY MEMORIAL FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the art of photography for the benefit of the public without prejudice. Also to annually award a young photographer of exceptional ability.
Significant activities
The recipients, with the support of the scholarship, have gone on to produce bodies of work that have been seen by hundreds of thousands of people, both in physical exhibitions and virtually through publications in The Sunday Times Magazine and other publications, and online. The visual narratives they produce shine a light on issues around the globe, from conflict, natural and made environmental disasters, poverty and displacement. The support the Scholarship offers and the spotlight on its recipients, enable them to continue with their careers as documentary photographers, who in turn have gone on to win prestigious awards and be represented by the most influential photo agencies, like Magnum and VII.
FINANCIAL REVIEW
Principal funding sources
The fund is totally reliant on income from donations.
During the year the fund received donations totalling £166,094 and prize winners received £10,350 At the end of the year the fund had unrestricted reserves of £184,865 carried forward to the next year.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are appointed by the existing trustees and serve for five years, after which they may put themselves forward for re-appointment.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
803797
Principal address
Abbots Hall Shalford Essex CM7 5HG
Trustees
Ms H Logan C Parry A Sullivan J Parry E J Blau (appointed 27/4/2022) A Stoddart (appointed 27/4/2022) S C Blakey (appointed 27/4/2022)
Page 1
THE IAN PARRY MEMORIAL FUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Tayler Bradshaw Cambridge House 16 High Street Saffron Walden Essex CB10 1AX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
............................................................................. A Sullivan - Trustee
Page 2
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
I report to the charity trustees on my examination of the accounts of The Ian Parry Memorial Fund (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ollie Warren
Tayler Bradshaw Cambridge House 16 High Street Saffron Walden Essex CB10 1AX
Date: .............................................
Page 3
THE IAN PARRY MEMORIAL FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 31/12/22 | 31/12/21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 166,094 | 101,391 | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 34,464 | 54,634 |
| NET INCOME | 131,630 | 46,757 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 53,235 | 6,478 | |
| TOTAL FUNDS CARRIED FORWARD | 184,865 | 53,235 | |
The notes form part of these financial statements
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THE IAN PARRY MEMORIAL FUND
BALANCE SHEET
31 DECEMBER 2022
----- Start of picture text -----
|||||
|---|---|---|---|
|31/12/22|31/12/21|
|Unrestricted|Total|
|fund|funds|
|Notes|£|£|
|CURRENT ASSETS|
|Cash at bank|184,865|74,927|
|CREDITORS|
|Amounts falling due within one year|5|-|(21,692)|
|NET CURRENT ASSETS|184,865|53,235|
|TOTAL ASSETS LESS CURRENT LIABILITIES|184,865|53,235|
|NET ASSETS|184,865|53,235|
|FUNDS|6|
|Unrestricted funds|184,865|53,235|
|TOTAL FUNDS|184,865|53,235|
----- End of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Sullivan - Trustee
The notes form part of these financial statements
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THE IAN PARRY MEMORIAL FUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. RAISING FUNDS
Raising donations and legacies
| 31/12/22 | 31/12/21 | |
|---|---|---|
| £ | £ | |
| Support costs | 736 | 685 |
continued...
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THE IAN PARRY MEMORIAL FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. RAISING FUNDS - continued
Investment management costs
| Investment management costs | ||
|---|---|---|
| 31/12/22 | 31/12/21 | |
| £ | £ | |
| Administrative expenses | 18,298 | 27,994 |
| Aggregate amounts | 34,464 | 54,634 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 101,391 |
| EXPENDITURE ON | |
| Raising funds | 54,634 |
| NET INCOME | 46,757 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 6,478 |
| TOTAL FUNDS CARRIED FORWARD | 53,235 |
continued...
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THE IAN PARRY MEMORIAL FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
----- Start of picture text -----
|||||
|---|---|---|---|
|5.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|
|31/12/22|31/12/21|
|£|£|
|Trade creditors|-|21,452|
|Other creditors|-|240|
|-|21,692|
|6.|MOVEMENT IN FUNDS|
|Net|
|movement|At|
|At 1/1/22|in funds|31/12/22|
|£|£|£|
|Unrestricted funds|
|General fund|53,235|131,630|184,865|
|TOTAL FUNDS|53,235|131,630|184,865|
|Net movement in funds, included in the above are as follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted funds|
|General fund|166,094|(34,464)|131,630|
|TOTAL FUNDS|166,094|(34,464)|131,630|
|Comparatives for 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|
|Comparative 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|
----- End of picture text -----
continued...
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THE IAN PARRY MEMORIAL FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6.
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At At 1/1/21 in funds 31/12/22 £ £ £ 6,478 178,387 184,865 6,478 178,387 184,865 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 267,485 (89,098) 178,387 267,485 (89,098) 178,387 |
|---|---|
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
8. EVENT EXPENDITURE DECREASE
In the year event expenditure has dropped by £16,372, this is due to the fund having a lower quantity of events in comparison to last year.
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THE IAN PARRY MEMORIAL FUND
| INCOME AND ENDOWMENTS Donations and legacies Income Total incoming resources EXPENDITURE Other trading activities Event expenses Prize winners Storage costs Investment management costs Administrative expenses Support costs Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income |
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 31/12/22 31/12/21 £ £ 166,094 101,391 166,094 101,391 5,080 21,452 10,350 3,473 - 1,030 15,430 25,955 18,298 27,994 196 85 540 600 34,464 54,634 131,630 46,757 |
|---|---|
This page does not form part of the statutory financial statements
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