The Colegrave Seabrook Foundation Report and Financial Statements Year Ended 31 December 2023 Charity Registration Number 1017289
The Colegrave Seabrook Foundation Reference and administrative Information Trustees J Colegrave {Chair of Trustees) A Ball A Dunnett NGOW T Kerlev S Lowen N Wait R Seabrook N Stein N Higginson Principal Office 44 Holland Street, London, W8 4LX Bankers Barclays Bank plc, Leicester, Leicestershire LE87 2BB Metro Bank plc. I Southampton Row. London, WCIB SHA Investment Managers Cazenove Capital, Schroder & Co Limtted. l London Wall Place, London EC2Y SAU
The Colegrave Seabrook Foundation Report of the trustees for the year ended 31 December 2023. The trustees present their annual report and financial statements of the charity for the year ended 31" December 2023 and confirm that they comply with the charit¢s trust deed and the Charities Act 2011. The accounts have been prepared in accordance with accounting policies set out in Note 2 to the accounts. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applica ble to charities preparing their accounts in accordance with the Financial Reporting Standard appl icable in the UK and Republic of Ireland IFRS 102). Structure, Governance. and Management The Foundation is a charity registered with the Charity Commission, number 1017289, and is constituted under a trust deed dated 14 January 1993, as amended by deeds dated l July 22 and 10 November 2020. The Foundation was established in 1993 in recognition of David Colegrave. a prominent horticulturalist who throughout his life had taken a keen interest in supporting and promoting the development of young people. The trustees meet twice a year to agree strategy and areas of activity for the Foundation, including the awarding of scholarships and bursaries, investment review, risk management and performance. Objectives and Activities The purpose of the Foundation is to support the development of the ornamental horticultural industry in the United Kingdom by financing and supporting scholarships and bursaries for students interested in pursuing a career in this field. The Foundation further5 Its charitable purposes for the public benefit through its scholarship granting policy which aims at= financing scholarships to individuals studying or teaching horticulture in the UK,. and providing bursaries for international nursery work placements and horticuFtural study tours. Public Benefit The Trustees confirm that they have complied with the duty in section 17151 of the 2011 Charities Art to have due regard to guidance issued by the Charity Commission on public benefit when deciding on the chariws activtties. Achievement and Performance A year of consolidation. building on a number of the initiatives implemented previously ha5 seen good performance towards our objectives. Financial support was made available to 17 student5 during 2023. with further support through our connections and initiatives. One of our more significant achievements was the inaugural Development Day for recipients of the Smart Garden Student Scholarships, Whe in addition to the financial support of the 5 scholarship winners, along with 2 further students we organised a 2 day tour of a variety of leading horticu Itural businesses in the east of Engla nd. This was a tremendous succes5, enjoyed by all involved and gained significant interest. Another was our Industry Reception held at the National Plant Show where approaching 60 students and influential members of the industry benefited from 'meet and mingle, time. Launching our series of podcasts, "Cultivate Your Future" sees us working towards promoting the opportunities of horticulture as a professional career. Raising this profile supports the specialist education sector and ultimately supporting the future of the horticultural industry. This is an ongoing project with further series being recorded. Raising the profile of the charitable work of the Foundation within the industry, building links with key ind ividuals and organisations while also raising awareness of career opportunities amongst the wider population remains our focus.
The Colegrave Seabrook Foundation Financial Review The financial statements show income forthe year of £39.78712022 - £51,628), consisting of £30,137 (2022 - £42,102} of donations, £9,58812022 £9,526} of investment income and £6112022 nil) of bank interest. Scholarships and bursaries of £28,90012022 - £20,000) were awarded during the year. After accounting for administrative expenses and investment management costs of £12.71212022 £17,563). the Foundation reported a deficit of income over expenditure of £1.82512022 surplus of £14,066). There were realised gains on investments of £102 and unreali5ed gains on the investments of £2,965 (2022 - losses of E25.358). The Trustees consider the financial state of affairs to be satisfactory. Investment Policy and Performance Investment activities are managed in line with the requirements of the Trustee Act 2000. Our investment advisors Ischroder & Co Limited) are instructed to maximise total returns with the constraints of a medium to low-risk investment portfolio. Reserves Policy The charity's normal policy is to generate and maintain adequate fund5 and reserves for the efficient running of the charity on a day-to-day basis. Risk Management The Trustees have considered the major risk5 to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. Scholarship and Bursary Making Policy The Foundation has established its scholarship making policy to achieve its objects for the public benefit to support the developrnent of the ornamental horticultural industry by financing students pursuing a career in this field. The trustees invite applications for scholarships and 8rant5 to all students completing horticulture related courses in the UK and Irelafid. Student5 must be attending college. university. or similar educational establishment on a full or part time basis with a view to seeking permanent full-time employment in commercial or production ornamental horticulture. Trustee5' responsibilities in relation to the financial statements The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustees to prepare fiv)ancial statement5 for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trnstees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles of the Charities SORP. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Colegrave Seabrook Foundation The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the f inancial Position of the charity a nd enable them to ascertain to ensure that the financial statements comply with the Cha rities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraLAd and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and fina ncial information included on the charity's website. Approved by the Trustees on 22. February 2024 and signed on their behalf bv: R Seabrook
Independent Examinerfs Report To the Trustees of The Colegrave Seabrook Foundation I report on the accounts of the charity for the year ended 31" December 2023. which are set out on pages 7 to 9. 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 20111'the Act'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl 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: l. accounting record5 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 Conrning the form and content of accounts set out in the Charities (Account5 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 thi5 report in order to enable a proper understanding of the accounts to be reached. Ginette Getting FCA FFA PSG Bowden5 LLP 100 High Street Evesham, Worcestershire WRII 4EU Dated: 21 312DZ£fr
The Colegrave Seabrook Foundation Statement of Financial Activities For the Year Ended 31 December 2023 2023 2022 Total unrestricted funds Total unrestricted funds INCOME Donations and legacies Investments 30,137 9,588 61 42,102 9,526 Interest Total 39,787 51,628 EXPENDITURE Investment management costs Charitable activities Administrative expenses Total 655 28,900 12,057 41.612 699 20,000 16,864 37,563 Net incomel(expenditure) (1,8251 14,066 Net gains1{losses) on investment assets Listed investments Realised Unrealised 102 2,965 125,3581 Net movement in fund5 1,242 111.2921 Total funds brought forward 249,942 261,234 Total funds carried forward 251,184 249,942
The Colegrave Seabrook Foundation Balance Sheet As at 31 December 2023 2023 2022 Total unrestricted funds Total unrestricted funds Fixed assets Investments Current a5setS Cash at bank and in hand 220,455 217,876 31,149 32,486 Creditors. amounts falling due within one year 420 420 NET ASSETS 251,184 249,942 Unrestricted funds; Income fund 251,184 251.184 249,942 249,942 TOTAL FUNDS
The Colegrave Seabrook Foundation Note5 to the Accounts Basis of Preparation The Colegrave Seabrook Foundation meets the definition of a public benefit entity under FRS 102. The accounts have been prepared in accordance with 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 IFRS 1021 and the Charitie5 Act 2011. The financial statements are prepared on a going concern basis under the historical cost convention except for listed investments which are measured at fair value, unle55 Otherwise stated in the relevant accounting policy note. The financial statements are presented in sterling. which is the functional currency of the charity rounded to the nearest pound. Accounting Policies All income is credited to funds of the Trust in the year in which it is receivable. All expenditure is recogni5ed as soon as there is a legal or constructive obligation committing the charity to pay out resources and are directly attributed to one of the functional categories of resources expended. The Trust is not registered for value added tax. and so all such tax paid is charged to the statement of financial activities, as part of the expenditure to which it relates. Unrestrirted funds comprise accumulated surpluseson the general fundsand are available to use at the discretion of the Trustees in furtherance of the general charrtable objectives. Listed investments are stated at market value. increase/ldecrease} on revaluations are transferred tollfroml the Statement of Financial Activities. Tru5tees' remuneration, benefits and expenses No trustees received any remuneration or other benefits or expenses for the year ended 31 December 2023. Control The charity is under control of its trustees. Listed Investments Book Market Value @ Value @ 31st 3tst December December Additions Disp05als 2022 2022 Cost Proceed5 Book Market Value @ Value @ 31st 31st Profit/ December Decernber {Loss) 2023 2023 102 Charity Multi-Asset Fund 194,401 217,861 {i.0001 193,503 219,928 194AOI 21?61 (1,0001 102 193,503 219,928 Porttolio cash 15 15 526 526 194.416 21176 194.029 220.454