Chatity restratIOn nunther. 1061949 The Peter Foden Family Trust Annual Report and Financial Ststements for the Yw Ended 31 March 2023 Alcxtrd Group Limited Charterd Certified Accountants 7-9 Macon Court Crewe Cheshire CWI 6EA
The Peter Foden Family Trust Contents (continued) Reference and Adrninistrative Details Trustees, Report 2to3 Statement of Tntsttts, Rewnsibilitie5 Statement of Fitmncial Activities Balance Sb¢¢t Notes to th¢ Finan¢ial Stalen] 8t014
The Peter Foden Family Trust Reference and Adnthstra¢IVe DetAIIs TTU5tees Mr R P Foden Mr P J Foden MrsHMFod Charfty RegLstrtlon Number 1061949 PrtiD¢ipAI Office Oak Fwtn The Heath Sandb8ch Cheshire CWIE 4ST IndepeDdent EXDner Alextra Group Limited Chartered Certified Accountants 7-9 mOn Court Crewe Cheshire CWI 6EA Investment advlsor8 Canaccord Genuity Wealth Managemetjt 41 L4)thbwy iA)ndon EC2R 7AE Page I
The Peter Foden Family Trust Thi$tees' Report The trste presettl the aDnual report togdher with the fjnaneial slatemettts of the charity for th¢ y¢ar ¢ndcd 31 March 2023. ObJethlve5 and a¢tivltles Pub&c benefit The principal activities of tbe Trust are to advance education and relieve poverty and sick[S tn Englattd and Wales. This is kn be done by fiutheTing the clwlthble purposes of educational and nll¢al establishments sillMted in England and Wales. Sp¢cifically, the TnLs¢tts shall apply th¢ in¢om¢ in: Awarding holarshIpS exhibitions or maiDl¢nance allowanc¢ to any p¢r81)D or petsons attendin8 any school ]miveTsity or othet educatiollal establislJm¢nt approved by the TEUStces' Providing tools, equipltient and IM)oks for any such educational e5tablishmen¢ Awatding such perso% 8rallts or ti)aiTrten8llce allow8llces to enable them to travel in the United Kingd()m or elsewhere in the fi]rth¢ oftheir education. The relief of Imtients suffering from any disease. The provision ID the intereBts of social welfare and Tecre¥4tional 11]$1¢5 for 8uch patient4 The r¢lief in cases of financial distress of the d¢thi aDd such patients.. The promotion of research into the L¥uses tteattnent of disease on tern that the r¢$ults of T¢search 4r¢ published. The trustees confllm that they have complied with the requiternent8 of section 17 of th¢ Charities Act 2011 to have due regard to the public benefit gUidaCe pllblislled by the Cbarity Com1DOn for England and Wales. FInanfI revle Policyon res¢n It is the policy ofthe awity to (naintain sufficient unrestricted funds to generate sufficient investment incom¢ to fund their aDnual grdnts progrdmme. and to cover the anuual maDagement and admintstration costs. Unresttictrd fulld% were Maintaill at this level throUg1ul the year. InvLvlmentpoliry objeeii Tnt monies Diay inveBted in whTchever way the Tru5tces, in their ab801ute discretio think fiL It has been the policy of the Tryst to use the s¢ryt¢es of BD inv¢8iment nwwger, Cana¢cTvd Genuity Wealth Man•gement. Th¢ value of the tDvestments as at 31 March 2023 is £NIL Trllsttts *ud offlcers Th¢ trllstee8 atrj officers serving during the ye4r attd sinc¢ the year end were as follow5: TnL8tets.' Mr R P Foden Mr P J Foden Mr8 H M Foden P&ge 2
The Peter Foden Family Trust Trustees, Report (continued) S¢rueturfy governance and man*gement Nafyre ofxovernipg The trust is the nIOrpted tntst cotL%tituted ullder a trSt deed dated 28th Febnwy 1997 and is a tegistered charity, number 1061949. The trust doe5 not actively futLdrni5e and ekS to continue the work desired by the donor tlwougb the carefid stewdrthp if its exi5tiU8 [Our¢c& R¢cry¢ilmentaDdappoinlmentoftr¥s¢ees N¢w trustees are appoint¢d by at Icast thrt¢ ¢xistiDg trusl£es. and are chosen with regard to th¢ benefits the appoRntment will bring to the charity. Ruk management The Tnle¢S have exami the JOr strategic, business aud operational rftsks which the Chartty f&ces alld ¢oofjryn that syst¢tns bJv¢ been ¢stsblisbed to enable regular reports to b¢ prOthed so that the necew Sp$ Can be t8ken to lessen those risks. The annual report FS approved by the trustee8 of the Charity on 20 March 2025 and si8tied on its behalf by. MrP J Foden Trstee Pag¢ 3
The Peter Foden Family Trust StatemeDt of Trnstees, ResponsAbllttle8 Th¢ tt¢¢$ ar¢ rcsponsibl¢ for pr¢pariDg th¢ ty$t¢cs' r¢port and th¢ fiDan¢ial stst¢mcnts in accordance with the Unit¢d Kingdom A¢cowJting Standards {United Kingdom Gcncrnlty Accepted Accounting Prd¢ti¢el and appli13ble law and reationS. The law applicable to charities requires the tmses to prepare financial ststennts for each fiDaD¢ial year which give a true and fa]r view of the stste of affaits of chaTity and of the incoming resources and application of resourc&s of the cl)arity for that perlod. In pwaritig these fianCIal statemellts, the trust are required to.. s¢lec¢ suitsble accounting policies and then apply them consistently, obserY¢ th¢ methods prineipl¢s in the Chariti¢s SORP. make judgements and estimates that are reasonable and prndenL stat¢ wheth¢r apphcabk ac¢oiuiting standards hav¢ be¢n followed. subject to ally matcrial depart disclosed and ¢xpl¥in¢d in the financial stht¢ments" and charity will contitiue in business. The tSleeS are responsible for keeping proper accounting records that disclose with reasonable accurn¢y at Any tin the fiJw¢ial position of the charity and enable tbem to ensure that the financial state ¢omply witb tb¢ Charities Act 2011, the Cb2rities (A¢counts and R¢ports) R¢gulations 2008, and the provisions of the Constition. The trLstees are also resporLsible for safrglwding the assets of th¢ charity and lknce for takiDg rea8onable steps for the pr¢vention and detL%tiOD of fraud aod other irregularities. The ttu8tees are responsible for the n]ntenance and integrity of the coryornte and financi Inforti1)ll included on the charitsble cOmpanS website. Legisletion governing the prep8ration attd diss¢mination of fuwicial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 20 Marcb 2025 and st8d on its beljalf by. Mr P J Fodell Page 4
The Peter Foden Family Trust Independent Examiner's Report to the trustees of The Peter Foden Family Trust I report to the tjustees on my exa]nination of the accounts of The Peter Foden Family Ttust for the year end¢d 31 March 2023. Responsibilities and basis of report As the charity's trustees of The Peter Foden Fatnily Trnst you are responsÉble 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 The Peter Foden Family Trnsvs accounts Caled out under section 145 of the 2011 Act and in accordance with the Generdl Directions given by the Charity Commission. An examtnation includes a review of the accounting record5 kept by the charity and a comparison of the accounts presented with those records. It also includes considerntion of any unusual items or disclosures in the accounts, and seeking explanations from the trnstees concerning ally such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to thether the accounts present a 'true and fair, view and the report is limited to those matters sei out in the statement below. Having satisfied myself thai th¢ acwunts of The Peter Foden Family Trust are not requitrd io be audii¢d and are eligible for independent examination, I report in respect of my examination of your charity's accounts a5 Caled out under section 145 of the Chariti¢s Act 2011 ('the 2011 A¢t'). In carrying out my examination I have followed the Directions giv¢n by th¢ Charity Commission under section 145(5)(b) of the 2011 Act. Independent examlner's $tatement I have ¢ornplded Tny examination. I confimi that no material matters have come to my attention in connection ith the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of The Peter Foden Family Trnst as required by section 130 of the Act; or 2. the COul)ts do not (ord wwih those records,. or 3. the accout do not comply with tbe actounting requirejnents conceming the fo and contrnt of accounts set out in the Charities (Accounts and Re)rts) Regulations 2008 other than any requirement that the accounts give a 'te and fair view. which ig not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connethion with the examination to which attention should be drawn in this Tep)rt in order to enable a proper undentand?ng of the accounts to be reached. I lan Biddington Chartered Certified Accountants Alextra Group Limited 7-9 Macon Court Crewe Cheshire CWI 6EA 20 March 2025 Page 5
The Peter Foden Family Trust ststement of Flnanelal Acdvltfies for the Year Ended 31 March 2023 Total 2023 Unrestricted Note Investment income 29,374 29,374 ExpeDditsr¢ OD: 63.054 {35.554) 63.054 {35,554) Charitable activities Totsl expenditure Net income 27.51M> 27.500 56.874 56,874 Other recogniswl g*ltt$ And 108 Ur15¢d gal%}10&$eS on investtnent assets 1134,345 (134,345 Netmovement in funds (77.471) (77.471) RecoDciliatioD of fvnd8 Total futth btought foTward 1,037.058 .037.058 959,587 959,587 Total 2022 Unr¢stri¢ted Note IDeome alld EndoTvllMts from: Investrnent income 28.980 28.980 ExpeDdl¢ure OD: Charitable activities 8,012) 8,012 Tots] expenditu Net illcome 8,012 8.012 20.968 20.968 Other recognised gains aDd 1o5XS Unr¢alised gains/lo&ses on investment assets 12,795 12,795 Net movement in fiuvjs 33.763 33.763 Re¢oDciliation of fund Totsl bTougbt forward 1,001,855 1.035,618 1.001,855 Totsl filllds carried forward 1,035.618 All of th£ chatity's activities derive from Continuing operations during tbe above two periods. The bre8kdrn for 2022 is SI in note I l. The notes on pag¢s 8 to 14 forni an integrnl part of these financial statements. Pag¢ 6
The Peter Foden Fan)Ily Trnsl (Reglstration nllmber: 1061949) Balance Sheet as at 31 Mareh 2023 2(123 2022 Not Fixed assets Inve51ments 839.815 Current a8Jet8 Cash at bank aDJ in hand 962.538 201.443 Credittsn: Amouttts falllng dut vAthln one year io 2.952 5,640 et eurrent 8 959,586 195,803 Net 8S8ets 959,586 .035,618 Futtds of the charlty: RerVeS Income fund Capital fimd Ullrestritted revaluation e[Ye 959.586 901,173 100 134,345 Totsl unrestrtct 959586 1,035.618 Tot fthnds 959.586 1,035,618 The fin8nci81 ststements on pages 6 to 14 were 8pproved by the truw aad for issue oll 20 March 2025 and signed on their behalf by.. Mr P J Fod¢n TTUStee The notes on pagcs 8 to 14 fonn an integral part of fina11 stat¢ments. Page 7
The Peter Foden Famity Trnst Notes to the Ffinanclal Snttts for the Year Ended 31 March 2023 l Accouuting pollcks Ststsment of eompliattee The fllwi¢ial ststem¢nts have been Prepar in accordance with the second edition of tbe cPtieS Statement of ReCOn]meIed Prd¢tic¢ iU¢d io O¢tob¢r 2019. th¢ Fiuancial RetIll8 Stalldd applicable the United kn8d0 and Repubtic of Ire]and (FRS E02) and the Charities Act 2011. Basis of prep#ratio The Peter Fodcll FatDily Tr1 meets the definition of a public benefit enlity UDd¢r FRS 102. Th¢ x¢ounts (financial ststeiiients) bave been prepared under tbe h]st(al c05t convention with items recogniwj at cost or transactEOll Value unless otherwise stated in the rekvant notc(s) to accounts. Th¢se financial ststeDnts are presented in sterjing wbich is the fillKtioDal currency of th¢ rnpanY and Tounded to the nearest £. Golng conferD The trustees consider that there are Do rtertaI CertaIntI¢$ about th¢ charl5 ability to continue as a going coDc¢m. Unr¢strt¢ted available for use at the discretion of the trustees in fifft1c of th¢ g¢D¢rat obje¢tiv¢s of the charity at which bave not been designated for other purposes. Inweslmelltlncome Investment income is earned through holding assets foT investment purposts 5wh as slwes. li includes dividends and interesi. Wbere it is not practicable to identify InVeytllt managcmeDt cosls incurred within a heme with reasonable ¢raCY the investrnent income is reported net of these costs. It iD¢luded when th¢ aTDOUllt ¢an be EtNsured reliably. Int¢re5t illcoll is Tecognised using the effective interest metbod and dividend income is reco8nised as th¢ cbarity's right to receive pay71t is estsblishe ExpeDdllvre A]1 cxpeThditu li accouttted for on an accnwls b&sis and be¢n thssifi¢d under headings that aggregate all Costs related to the category. Expenditure is recoglltsed where there is a legal or constrnctive obligation to make payments to third parties, it is probable that the 5ettlemellt will be rEquired and the EmOUDt of the obligation ¢an be measured r¢liably. It is categorised under the following headings". • Expenditure on cb8titable activities in¢lud¢s gT8nts and gover8nc4 costs and . Other expenditure represents those items Iiot fallÉDg illto the c&trgoriv Above. Irrecoverable VAT is char8ed as an expense against the activity for which expenditure aTOSe. These are costs incurred in attractin8 voluntary incom4 the rnaDagemeDt of eStrts and t]M)se incurred in tradillg activities that rni5e funds. Pag¢ 8
The Peter Foden Family Trnst Notes to the Flnandal Statements for the Year Ended 31 March 2023 (CODthiued) Governance cwts These include the costs attributable to the clwity's con7plian¢¢ witb eoL8tiDJtional 4nd $tathitory reqll1rts, T4xatlo The Charity is coL8idered to pass the tts 8¢t out iu PaTrph I Schedule 6 of the Finance Act 2010 and tberefore it meets the defllJitioD of a charitsble cowy for UK corporntion t&x purposes. Accordingly, tbe charity is tentiallY exempt from tsxation ill rew¢ct of Incon or capitsl gains received within categories covered by Chapter 3 Part I l of the Corp)ralion Tax Aei 2010 or Section 256 of the Taxation of Charg¢abl¢ Gains Act 1992. to the extent that such or gaiDS are applied exclusively to charitsble pwpises. Flxed asse¢ knvestments Fixed wset inv¢stttten Ot1 than programll relat1 investsnents. at¢ included at mark¢t value at tbe balance sbe¢t dat¢. lieali5eA 8aiU5 alld losses on AnvestmeDls are calculated as Lh¢ dIffer¢e b¢tw¢¢D sales proceeds alld tb¢ii uwk¢t Val ai the start ofthe year. or their subwueDt and Ch8ed or wedited to tl Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the tnoverncnt in tuarket values during the year and are credited or cbar8ed to the stateMa of Fina11 Activities based on the lllatkct value at the yeat cnd. Fund structure Unrestricted In¢on funds are general fidS that are available for use at the trustees discr¢tioD in furth¢rdnC¢ of th¢ obj¢¢tives of tbe clwity. 2 1Dve8tment kneome Unrestrleted fndS GeDer81 Tot1 fullds Interest receivable and similar Iorne. Interest receivable on bank (kSIts Other income from fjxed &t investmetsts 4.626 24,748 4,626 24.748 Totsl for 202J 29J74 29,374 Total for 2022 28.980 28,980 3 Expendltwre charitable actiwiti funds GeD¢rnl Totsl 2023 Totsl 2022 Note Governanc¢ costs 35,554 35.554 8.012 Page 9
The Peter FodeD Famity Trust Notes to the Flnanclal Ststenients for the YeAr Ended 31 Marcb 2023 (eonthilled) UDrestrleted Total nds General Note Governance costs 35.554 35.554 Totsl for 21122 8.012 8.012 To•1 eendItsre 4 Analys18 of gtsvermattce nd support eo#ts Govern4nre ¢tsJti Unrestri¢ted Total fund$ General Independent exami fe¢$ Examination of th¢ fwn¢ial stht¢ments Leg fees Other governance costs 1.872 3.682 30,(KM) 1.872 3.682 30,0(K Totll for 2023 35,554 35.554 Totsl for 2022 8.012 8,012 Page 10
The Peter Foden Family Trust Notes to the TrIDancl*l Statements for the Yexr Ended 31 Marth 2023 (eontinued) 5 Grallt-Jukin% Below are d¢tsils of material grallts made to institutio. 2011 2022 Name of IDStltu¢lo Fodens baud Miscellaneous 25,0(X) 30,IMKI 6 Trustees remunerxdon 74nd ewmes No thjstees, nor any persoDs conne¢ted have received any renllllmtioll from the ¢l18rity dwing the No tnLStees have received any reimbursed exp¢Ds¢s or aDy other benefits from the eharity dutitig the year. 7 Tau¢ioD The charity is a registerryj clwity aDd is therefore exetDpt from tsxation. Pa8e 11
The Peter Foden Fimily Trust Notes to the Finanel*l Statements for the Year Ended 31 March 2023 (CODtinued) 8 Ftsed asset knves¢ments 21)23 2022 Oiher inveslments 839,815 Pa8e 12
The Petsr Foden Family Trust Notrs to the Finaneil Statements for the Year Ended 31 March 2023 (eontlDued) Other ittve$tnnts Investment8 Tot1 CoJt or VaiuatEon At l April 2022 Revaluation Addition5 Di5F 839.815 839.815 (71.291) {71,291) 32,461 32,461 1800,985) 1800,985 At 31 Mah 2023 Net book value At 31 March 2023 At 31 Mttreh 2022 839.815 839.815 9 Cosb aDd eash eqthlents 2023 2022 Cash at bank 962,538 201,443 10 Credltors: amounts falllDg due wlthlD one y¢xr 2023 2022 2.952 11 Funds Olhtr Reree$ reco%nl%ed Cended lSlo•S5eS) Blafjt¢ At 31 Marth 2023 Ba]aD¢e #t I Aprli 2022 ltttOlDiDg resourc UDTestricted Unreth7CtedgeAernlfvnds G¢r#I ffimds {1.037.058 {29,374 27JOO 134.345 959,587 Balance #t 31 Mreh 2022 Bal*nce At I Inconllg ReMburtt8 reeogntsed Aprll 21121 tspettded Unre5tr1tted General 1.001,855 28,980 8,012 (12,795 E,035,618) Page 13
The Peter Foden Family Trust Notes to tbe Financial Statements for the Year Ended 31 March 2023 {¢ontlnued) 12 Analysis of nel assets bets¥eeo fullds Unrestrlcted funds General Tot*1 funds #t 31 Marcb 2023 961538 (2,952) 962,538 (2,952) 959.586 Cuffent liabiliti¢s Total n¢t assets 959586 Unresttleted fuDds General Totsl fvDds at 31 Marcb 2022 Fixed asset inv¢stDYDts Current assets Current liabilities 839.815 201.443 (5.640) 839,815 201,443 (5.640) Totsl net assets 11 1,035.618 1,035,618 Pa8e 14
The Peter Foden Family Trust Detailed Statement of Flnancial Activities for the Year Ended 31 March 2023 TDtAI 2023 Tot41 2022 Income and EndoTrvments from: Investment income {aDaly5cd below) Total income 29.374 28,980 29,374 28,980 ExpeDdltUTe on: Raising fuDds (atsalysed below) Charitable activitie5 (aEMIy5ed below) 63,054 {35,554) (8.012) Total expendiknwe Net income 18,012 56.874 20.968 Other re£ogDivd ggin$ *Dd knses Other gain10&$eS (analysed below) (134J45) 12,795 N¢t mov¢m¢nt in fiwds (77,471) 33.763 ReeoDeiiiatlfjD offunds Total fiwds brought forward 1,037,058 1,001,855 959,587 1,035,618 This page dS not forni part of the sthtutory finawial $tst¢mcnts. Page 15
The Peter Foden Family Trust Detailed Statement of Thanclal Aedvldes for the Year Ended 31 Marcb 2023 (continued) Tot21 2023 Total 2022 IMSen< Incom¢ Income from listed investments Interest on c4sh deposits 24.748 4,626 28,980 29,374 28,980 Rawsingfrnd5 (Profit)Aoss on disp1 of ititstigtble fixed 8ssets 63.054 63.054 Charilable •divilies Charitsble donation8 Independ¢nt exa]$ f¢¢ Foreign tsx paid MaDagement fees {30.IMMI) (1.872) (145) 3.537 {2,880) (440) 4,692 135,554 (Mher ginAo Reval reserve. Movement in value of investmths 134.345 12,795 This page does not forni part of the statutory financial statements. Page 16