Charity registration number.. 1061949 The Peter Foden Family Trust Annual Report and Financ1 Statements for the Year Ended 31 Mar¢h 2022 Alextsx Group Lkmited Charteied Certified Accountants 7.9 Macon Court Crewe Cheshire CWI 6EA
Tbe Peter Foden Family Trnst Contents R¢feren¢¢ and ADIlstrative D¢tails Tnes, Retrf)rt 2to3 Ststement of TTus¢e¢s' R¢sFrf)nsibiliti¢s Independent Bxaminevs Report ststement of Financial Activities Balance Sheet Notes to the Fitjancial Statements 8t012
The Peter FodeD Family Trust Referen¢e #nd AdmlDistrtAve Detsils Trustees Mr R P Foden Mr P J Foden MTS Hattiet M8ry Foden Oak Farm The Heath Sandbach Cheshire CWII 4ST Prfndpal Office CbgTity Regl$trlloD Nutyber 1061949 Investment advlsors 41 Lotbbury Li>ndon EC2R 7AE IndepeDd¢Dt ExgwiD¢r Alextra Group Limited ChaTtered Certified Accountants 7-9 Macon Court esbire CWI 6EA Page I
The Peter Foden Family Trust Trustees, Report The trust¢es present the aDnual report together with tbe fiD4Dcial slatemellts of the charity for tbe year ended 31 March 2022. Mr R P Foden MT P J Foden Mrs H8rrAet Mary Foden (ap}inted 9 March 2022) ObJettives and aellvltles PAblic benefit The principal acttvititt of the T[St #re to advance education al relieve p)vety and sickness io England and Wales. This is to done by filltherin8 the charitablc PUTPOSCS of educational and mthxcal estsblishttxnts situated in England and Wales. Spccifica]ly. tht Trustees shall apply the iticome in: Awarding schoiarshxps, exhibitions or ThXntena1e allowance to any pe or persons attending s¢h(yoL university or other educationai establislmmlt approved by the Trustees: Providing tools. ¢quipmellt and books forany Sh educational blIShMeni Awarding su¢h persons, grants or rnaintenanc¢ allowanc¢s to ¢1ble th¢m to trdvel in tbe Untted Kingdom or elsewhere in the furtherance of their educatio The rnltef of patients suffertng from any disease. The provision in the interests of social welfare and recreational facilities for such patients: The relief ill c8 of fiTwicial distress of the dependents and sh patients: Th¢ prootiOn of re8eaTcb into the alld treatTDeDt of dts¢48¢ on t¢rtDs that the results of such research are pub]ished. Th¢ ttwtee5 confirn] that they have complieAJ with tbe requirements of section 17 of the Cknities Act 2011 to have due regard to the public benefit guidance published by the ChaTity ConuDissi¢)n for England and Wales. FiDall¢l revie It is the policy of the Charity io n]aintsin sufficient unrestricted fijnds to gellerate sufficieDt iT]vestnDt incom¢ to fimd their annu81 grants progrJnuK and to cover the annual rnanage 8lld admini5tratioll ci)sts. Unrestricted were EDaitiiailled xt this level thTougbout the ye4r. Inv6sYNA¢M¢poli¢y 4ndobJ¢¢*ives Trust monies may b¢ inv¢st¢r in whichever way the Tns. in their absolute discretio think fit. It h&8 been the policy of thc TnLgt to us¢ the s¢Thiccs of an tnv¢stment manag¢r. Cana¢¢ord Genuity Wealth Management. The value of the investnThts at 31 March 2022 is 39.815. this is higher thall the cost of £675.588 Pag¢ 2
The Peter Foden Family Trnst Trustees, Report Stru¢tsr4 governan¢¢ •JHI nwn8g¢JDeDt Ivulxre ofxoverniTrg documenr The trust is the unincorp)rated trust constituted under a trust deed dated 28th February 1997 and is a registered charity, number 1061949. The trusi doES not activcly firaISe and seeks to continue the work de?ired by the Recrnitment and4ppointhen¢oftrMstees New tru$t¢¢s ar¢ appointed by at least three existing twstee& and are chosen with regard tt> th¢ b¢nefits the appointment bring to th¢ clwity. Major rfsks r£ks Risk management The Trustees have examin the nujor strategic, busine&s and operational risks which the Charity faces and confirni that Syste0 have been established to enable re8ul8r repo to be produced so that the necessary steps can b¢ tsken to l¢ssen those risks. The aTmuAI report approvedby the trustees ofthe clwity ottcxI.o.41.ZS&ttd signed OD its behalf by. Mr P J Foden Pag¢ 3
The Peter Foden Family Trust ststement of Trusteu, Responslbllitles The tnjstees are responsible for preparing tbe trLstee5' report and the fiJTraD¢ial statements in accordan¢e with the United Kingdom Accounting Standards (United Kingdom Generally Accepied Accounting Praciice) and applicable law and regulations. The law applicable to chariti¢5 requtres the tswstees to prepare fjnancial stAtetnents for each financial year which give a ITue and fair view of the 5taie of affatrs of the clwity and of the incoming resour¢¢s ond application of resources of the chaTity forthat period. In preparing these fmancial st8t¢m¢nts, the trustees &Te required to: select suitable acwiiDting wTrli¢ies #nd then apply them con5iStently,' obs¢rve the metluKls and principles in the Charities SORP. make jUdgellnts wjd estinmtes that are r¢asoDabl¢ aDd prudelll state Wheth app]ioable awoutttin8 stsndards have been followe& 8ubj¢¢t to any D]aterial d¢paTtsres disclosed and explained in tbe financial statement& and prepare the financial statemetyts on th¢ going concern b&sis unle&s it is itJappmpri&te to PTcsume that the charity will continue in business. Tbe trustees are responsible for keeping proper accounting records that disclose with reasonable accvracy at any time tbe financi81 position of the charity attd enable them to enswe that the financial stst¢m¢nts comply with the Charilies A¢t 2011. the applicdble Clwities (Accounts and Reports) RegulatioD4 and the provi5ioDs of the constitutioTL The trustees also resnsIble for safeguarding th¢ ass¢t$ of the cbaTity and henc¢ for tsking reasonable st¢P8 for the prevelltion deteclion of fraud and other irr¢gularitie& Appn)v¢d by the truste of the charity on ..... ...... .Ikd Sied on its behalf by: Mr P J Foden Page 4
The Peter Foden Famity Trust Independent Examiner's Report to the trustees of The Peter Foden Family Trust I rep)rt to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which e set out on pages 6 to 12. Respective responsibilities of trustees and esAminer As the chariry's trustees of The Peter Foden Family TThst you are resptsn5ibl¢ for the preparation of the accounts in accordance with the requiremenls of the Charities Act 2011 {'the Act,). I ryrt in respe of my examinthon of the The Peter Foden Family Tru$Vs accounts carried out wJd¢r section 145 of the 2011 Act and in aordanCe with the General Directions given by the Charity Commission. An examtnation include5 a review of the accounting records kept by the charity and a comparison of the accounts presented with those Terords. It a]so includes consideration of any unusual items or discl(Trsures in the account& and seeking explanations from the trnstees c¢)ncerning ally such matt¢rs. The procedur¢s undertaken do not provide all the evidence would be required in an audit and, consequently no opinion is given as to whether the accounts present a 'true and fail view and the report is limited to those matter5 set out in the staternent below. Having Satisfied myself that the accounts of The Peter Foden F8Jntly Tnjst are not required to be audited and are eligible for independent examinaiion, I report in resP¢Ct of my examination of your charity's accounts as carried out wjder section 145 of the Charities Act 2011 {'Ih¢ 2011 Act.). In carrying oul my examination I have followed the Directions given by the Charity CoTnmis5i0n under section 145{5)(b) of the 2011 Act. Independent examiDer's statement I have completed my examination. l ¢onfmn that no rnaterial matters have come to my attention in connection with the examination giving rne cause lo believe that in any m*erial respect= l. arrouDling rewrds were not kept in respect of The Peter Foden Famity TTht as required by section 130 of the Act; or 2. the accounts do not accord with those records,. or 3. th¢ accounts do not comply with the accounting r¢quir¢ments concerning the forni and content of accounts set out in the Charities (Accounts and Repor¢$l Regulation5 2008 other than any requiremeni thai the a¢e4)unts give a 'tNe and fair view, which is not a matter considered as part of an independent examination. I hav¢ no concems and have come across no other matt¢r5 in connection with the examination to which attentio]J thould be drawn in this report in order to enable a proper understanding of the account5 to be reached. mr]841ÉtOll Chartered Certified Accountants Al¢xtra Group Limited 7-9 Macon Court Crew¢ Ch¢shire CWI 6EA Date.. Page 5
The Peter Foden Family Trnst ststement of Flnan¢lal Actfvitio4 for the Year Ended 31 March 2022 Unrestrieted Total 2022 Note Incon and EDdowments from: 1llvestn income 28.980 28.980 Exptndltsre on". Charitsble activities 6,572) (6,572) Tot expenditure 6,572 6,572 Net incon 22,408 22.408 Other reeogntsed gakns and losses Unrealised gainsljosses on tnveslment 12,795 12,795 Net nveMent in fibnds 35.203 35,203 R¢coDcililion of Total fiuxis brought forward 1,001,855 1,001,855 Totsl filnds carried fonvard 10 I,037.058 1.037.058 ftrnds 2021 Note IncoThe attd Ettdownnts from: 25.192 25,192 Expettditure on: Charitable activities 7,092 7,092 Total exp¢nditsw¢ 7,092) 7,0921 Net income 18.100 l8.1(M) Other reeogntsed g•lns aRd losses Unr¢aiised gainloSseS on investtnent assets 230.718 230.718 Net movement in funds 248.818 248.818 Reeonclltsthin of tunds Total fUlS bn)ugbt fonv8rd Total fimds ¢arri¢d fonvard 753.037 753,037 10 1.001855 I,IM)1.855 All of the cIlty,5 activities dcrive from wntinuing operations dwing the above two P10d& Tr breakdown for 2021 is shown ID note 10. Pag¢ 6
The Peter Foden Family Trust (Registr4tlon number: 1061949) Balance Sheet as at 31 March 2022 2022 2021 Note Fised a55ets Inveslments 839.815 845.312 Current asjets C&sh at bank and in hand 201.443 159,303 Credl¢ors: Amounts faulng due wlthln one yeltr Net currtnt 4,200 (2.760 197243 156,543 1.001.855 Net 9ssets 1.037.058 Fullds of the charlty: Rejerve 902.613 100 134.345 880,205 i( 121,550 Capital fimd ReValu10n reserve Totsl unrestricted funds 1,037,058 I,1.855 Totxl fud8 io 1,037.058 .1,855 al statements on PAges 6 to 12 were approved by the ttustc¢s. and autIld for issue on .£S and signed on their bchalf by.. Mr P J Foden Tntee Page 7
Tbe Peter Foden Family Trust Notes to the FAnaDdal Statements for the Year Ended 31 March 2022 l Aceounting poliel The financia] statents have been prepartd in accordance with ACCOtIng and R¢porting by Charities.. Statement of Recommen Practice applicable to cljarities prepry their accounts in accordance with the Financial RepoTtillg Standard applicable ill the UK and Republic of Ireland (FRS 102) (effective l January 2019} - (Charities SORP IFRS 102)), the Financia] Reporting Standard applicable in the UK R¢publi¢ of Ir¢land (FRS 102) and th¢ Charities Act 2011. Basls of preparllon The Peter F(Mkn FallY TTh meets the definitton of a publi¢ benefit entity under FRS 102. Ass¢ts and "abilities are iDiÈiaUy Two8Di at historical w5t or tranSall valu¢ unless otherwlse Stated in th¢ relevwjt accounting policy Dotes. These financial ststements ate presenfrd in sterling which is the fimctionai ¢ll of the compgny And row)ded to the n¢afest £ Exempdoll from prep¥Jrkn8 * esh Ilow sttsment The clwity opted to early 0pt Bulletin I publislvj on 2 Febnwy 2016 and have therefoTr not ]lUd a ¢ash flow Siatettient in these financial ststen GolBg ll£er The tslLSte&q cotLsider that there 8re 00 nmtetiat uncerththe8 abo th¢ ¢horitys ability to continue &4 8 goitig Income and endownnts Unrestricted fvnds are available for use at the discretion of the trieeS in fillthetsnce of the general objectiyeg of th¢ charity atKI whith hav¢ not been d¢sigDatyJ for other PUryM)ses. Invcsbnent income Investment inc4)me is earned thmugb holding assets for Investment pws such as sl)ares. It includes dividends 8nd interest. Where it is not practicable to ide41tify investment malgement costs incwred within a sch¢DK with Ee&sonable accuracy th¢ investment income is reported ¢1 of these costs. It is included when the Twunt ¢an be nK&sured r¢liably. Interest income i8 recogDised using the effective interest m¢thod and dividend i)¢ is recogDised &$ the chatity's right to T¢1¥¢ paD¢ll¢ is estsblishe¢L Expenditsre All expenditure is accounted for OD an acenlS basis and has been classified uDd¢r headings that aweg8te a]1 costs rel#ied to the category. Expenditure is recogllised where there is a legal or CODstrwtiv¢ oblig8iion io n)ake paJin¢nts to third parties, it is probable that the settlenKnt WAll be required and tbe allTri of the obligation cark b¢ m¢asur¢d reliably. It is ¢at¢goris¢d under the followtng headin¥s: • Expenditllr¢ on charitable a¢tivities includ¢s grants and goverance costs 8nd . Other expenditure represents those items not failing into the tegorieS above. Irrecov¢r8ble VAT is clwged as an expeDSe against the activity for which ¢AdItre aT05e. Page 8
The Peter Foden Family Trust Notss to the FIDanclal Statements for the Year Ended 31 March 2022 GoveTDAn¢e ¢o¥ts These include the costs attributabl¢ to the clJaTity's collJplÉartce with Constitution gnd statutory r¢quir¢rnm illrluding eudil strategic management and tru8t¢¢S'8 MeetngS and reimbursed expenses. TJ¥tion The charity 16 conside1 to Pa the 8¢t w¢ in Porwaph I Schedule 6 of tb¢ Finance Act 2010 and therefore it meets the definition of a chaTitabl¢ compaDy for UK eorpoTrtion tax puOseS. Awirdingly, th¢ Charity is poientially exempt from lax&tlOD in re8p¢¢I of illcome OT capit gains received within cat¢gories covered by Chapter 3 Part I l of th¢ CoratIOn Tax Act 2010 or Section 256 of the Taxation of Chargeable GaiJL8 Act 1991 io the extent that 5uth income or gain8 are applied exclusively to charitable putpo%& ed 8Set Investments Fixed asset investm¢nt4 other than prOgrallll[ related investments. are included at market value at the balance sheet date. Realtsed gaujs al 108ses oll itiVeStts are calculated as the dtfference between sales proceeds and their market value at th¢ start of the y¢ar. or their subsequent cosl and are Charged or credited to the Statejnent of FiDaTEci&I Activities ill the pttiod of disposaj. Ullreali5ed gaitt5 and lo&se5 represent the movenxnt in D)ark¢t valu¢s during the year and are credited or charged to the Ststement of Fit)ancI Activities based OD the mwrk¢t vJlue at the year end. Fund 8trurtur¢ Unrestricted Inctill funds att gen fimds that are availabl¢ for use at the trst¢¢$'8 discretion in fiutherance ofthe objective8 of the clwity. 2 loyestment Sneome Unrtttrieted funds Totsl 2022 Total 2021 Gener*1 Oth¢r inco]ne from fixed a&qet investowlts 28,980 28,980 25,192 3 Expenditure eharitsble activities Unre9tr1eted funds To 2022 Total 2021 G¢Trer•l Note Governance costs 6.572 6,572 7.092 Page 9
The Peter Foden Family Trust Notes to the FIDaDclal Statements for the Year Ended 31 March 2022 4 Ath4tysls of govtnmee •nd support ¢osts Governanfe costs Unre8trl¢ted funds Toll 2(122 Gener1 2021 Inde• examiner fees Examination of the fi¢1 Statellts I£gal fees 1,440 5.132 1,41XI 5,692 5,132 6.572 6,572 7,092 S GraDt-mAknng Below ate detsils of nuterial n]ade lo instittrtiODS. 2022 2021 Name of ittstithtiott Fodens band Miscellaneous Artlvlty 6 Trnstees remuller•¢iDm lld ¢xpetty No trttes, nor any wsons collne Thith theni have received any r¢muD¢rntion from the clwity during the No tswtees have r¢c¢ived any reioJburs¢d ¢xpeDses or any othu benefits from tbe charity durin8 the year. 7 Txatlo The charity 18 8 regist¢r¢d ¢lwity and is therefore exempt from taxatAOll. Page 10
The Peter Foden Family Trust Notss to the FIDaDelAI StatemeDts for the Yr Ended 31 Mareh 2022 8 Flxed asset Inve8tmeDts 2022 2(121 Other inY¢stmellts 839.815 845.312 Other lthvestments Llsted luvestmettts Totsl Cost or Valuation At l April 2021 Revaluation 845,312 12,795 86,651 (104,943 845.312 12.795 86,651 {104,943} Additions Disposa]s At 31 March 2022 839,815 839,815 Nel iwk v•lNt At 31 March 2022 839.815 839.815 At 31 March 2021 845,312 845.312 9 Credttors: flliTrg dw¢ within yr 2022 2021 42(Kl 2,760 10 Funds Otber I1v& Re8•oreea recogllid rejourtrs expended g•ADsIOosges) Balanee xt 31 Mareh 2022 B•l#n¢e #l I April 2021 UTrrostrlrted funds Unrestrid¢dgener4lf¥nds General filnds 1,001,855 28,980 12,795 1,037.058) Other B*lAnee at I Ine•mkng Re8ourees recogDls¢d Aprll 2020 resources ewdcd galnsloossei) Balance at 31 March 2021 UDre8trieted fvnds General 753,037) (25.192 230,718 1,001,855) Pa8ell
The Peter Foden Family Trust Notes to the Finandal Statements for the Year Ended 31 Marcb 2022 11 Anaty81s of net wfiets between funds Unrestricted funds General Tot*i funds Fixed asset Investments Crnt ets 839.815 201,443 (4.200) I,037.058 839,815 201.443 (4,200) 1037,058 Current liabilities Total net assets Unrestri¢ted funds General Totsl funds Fixed asset InvestD)ts Current assets Curr¢nt liabiliti¢s 845.312 159,303 2,760 845.312 159.303 2,760 Totsl Det a88ets 1,001.855 1,001.855 Page 12
The Peter Foden Family Trust Detailed Ststement of FinaDcial Activitle8 for the Year Ended 31 Mareh 2022 Totgl 2022 Total 2021 l#come Endown*llts from: Investmem inco (analysed below) 28.980 25,192 Total incon 28,980 25.192 E4ndItsre oll: Clwitable activities (8nalysed below) Total exp¢nditUT¢ 6.572 (7,092) (6,572) 7.092) Nct income 22,408 18,IIM> Otber recog1$ed gxltts and loxses Oth¢r galLo85¢S (ana]ysed below) 12,795 230,718 N¢t t[vement in fimds 35,203 248.818 Reeonelllallott of fyttd$ Tolal fidS brougbt foTward 1.001.855 753,037 1.037,058 1.001.855 Pa8e 13
The Peter Foden Family Trust Detailed Statement of FiDancial Activitieb for the Year Ended 31 Marcb 2022 Total 2022 Total 2021 Jnvcthent income Income from listed imTesttMJts 28.980 25.192 28,980 25.192 Charithble aelivtiies Independent examineffs fr¢ Forei lax paid Management fees Legal and pn)fessionaE fe&$ (1,440) (440) (4.692) (1.400) (570) (4,462) (660) (7.092 (6.572) Reval reserve- Movement in value of investttThts 12.795 230,718 P4ge 14