Company Number: 03674554 Charity Number: 1074030 THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmlted by guaranteel CONTENTS Page Reference and admlnlstratlve detalls of the charity, Its trustee5 and advlser5 Trustees, report 24 Independent examinerfs report 54 ststement of financlal activities Balance sheet Note5 to the financial statements 9-15
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmlted by 8uaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISER5 FOR THEYEAR ENDED 30 APRIL 2021 TrusteeslDirectors Mr Brlan Eagles. Administratlve Trustee Mrs Marjorie Eagles Ms Emllla Rose Elizabeth Fox Mr Nlckolas Grace Mr Anthony Hyams Secretary Mr Brian Eagles Charlty registered number 1074030 Company reglstered number 03674554 Correspondence addres5 5 Stratford Plxe London WIC IAX Independent Examlners Sterlings Ltd Chartered Accountants Lawford House Albert place London N3 IQA Bankers Arbuthnot Latham & Co. Llmitsd 7 Wllson Street London ECZM 2SN Sollcltors Burlingtons Legal LLP 5 Strntford Place London WIC IAX Investment Managers St. James's Place Wealth Management Admlnlstration Centre PO Box 9034 Chelmsford, CM99 2XA Hawksmoor Investment Management The Senate, Southernhay Gardens Exeter, EXI IUG 5arasln & Partner5 LLP Juxton House, 100 St. Paul's Churchyard London EC4M 8BU
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limitsd by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 APRIL 2021 The Trustees are pleased to present their annual trustees, report together with the financlal statements of The Ralph And Meriel Richardson Foundation for the year l May 2020 to 30 April 2021. The financial statements comply with the Charities Act 2011, the Trust Deed, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS1021 leffective l January 20191. ObSectlves and Activities Con5tltutlon and objects The foundatlon is a charitable company limited by guarantee. It is entered on the Central ReEiSter Df charities under number 1074030. The governing instrument is the Memorandum and Articles of A550ciation which were revised on 2 January 2010. In the event of the company being wound up members are required to contribute an amount not exceeding £10. The objects of the charity are to relieve the need, hardship and distress of Brit15h actors and actresses who have professionally practiced or contributed to the Theatrical Arts lon stage, film, radio or television} and their spouses or children. Trustee5 The trustee5 who have seNed during the year and since the year end are Set out on page l. The trustee5 of the company are also company dirertor5 for the purposes of company law. Under the requlrements of the Memorandum and Articles of Association the trustees may appoint any person who is willing to be a trustee in order to fill a casual vacancy or as an additional trustee. There is no requirement on the Iru5tees to retire by rotation. Grant making pollcy An applicant's request for a grant Iusually with letters in support) is assessed on it5 merlts in light of the objects of the foundation. The application is then put to the vote of the director5 and a majority vote is required for approval.
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) TRUSTEES, REPORT Icontlnued) FOR THE YEAR ENDED 30 APRIL 2021 Publlc Bènefit We have referred to the guidance contained in the Charity Commission's general guldance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how such planned activities will contribute to the aims and objectives of The Ralph And Meriel Richardson Foundation. Flnanclal review The income of the Foundation during the year has come from the investment portfolio and royalty income. The surplu5 for the year amounted to £321,05112020 - EIII,753 deficit). During the year the tru5tee5 have continued to applytheir funds in accordance with the object5 clause of the Memorandum and Article5, as amended. They have made granls of£14,05012020: £30.5221. Reserves pollcy Following the injection of major funds from the Sale of the personal assets and property of Lady Meriel Richardson in 2002, the initial donation of assets has created a reseNe, held as cash at bank and inve5tment5, as shown in the balance sheet, which will be maintained in order to generate future income which will be available for distribution by grants each year. The accumulated resenres at the end of the year amounted to £3,346,89412020- £3,025,8431- Investment PDIicy The directors have considered the most appropriate policy for investing funds and continue to make the investments in a cautious way which gives protection to capital and earn5 a reasonable return. Rlsk management The trustees have conducted a review of the major risks to which the charitv Is exposed. Future plan5 The trustees continue to plan to increase the awareness of the Charity amongst potential applicants for grant5.
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmited by guarantee) TRUSTEES, REPORT Icontinuedl FOR THE YEAR ENDED 30 APRIL 2021 Trustees, responsiblllties Statement The Tnlstees (who are also directors of The Ralph And Meriel Richardson Foundation for the purposes of company lawl are responsible for preparing the Trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel. Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently: obseNe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent: and prepare the financial statements on the going concern basis unle55 it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficlent to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable Ihem to ensure that the financial statements tomply with the Companies Act 2006. They are also responsible for safeguarding the asset5 Of the charity and hence for taking reasonable steps for the preventlon and detection of fraud 3rbd other irregularities. Small company provlslons Since the company qualifies as small under section 383. the strategic report required of medium and large companies under The Companies act 2006 Istrategic Report and Director's Reporil Regulations 2013 is not required. Thls report wa5 approved by the Trustees on by: and signed on their behalf Mr A. Hyams Dlrector
THE RALPH AND MERIEL RICHARD50N FOUNDATION IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL2021 Independent examlner's report to the Trustee5 of The Ralph And Meriel Richafd50n Foundation We report to the trustees (who are also Direttors for the purpose of company lawl on our examination of the financial statements of The Ralph And Meriel Richardson Foundation I'the charitable companWI for the year ended 30 April 2021 which comprise the Statement of Financial Activitie5, the Balance Sheet and related notes set out on pages 7 to 15. This ieport is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. Our work has been undertaken so that we might state to the charity's irustees those matters we are required to state to them in this report and For no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for our work, for this report, or for the opinions we have formed. Re5ponslbllltles and basis of report As the trustees of the charitable company you are responsible for the preparatlon of the financial statement5 in accordance with the requirement5 of the Companies Att 20061'the 2006 Act'l. Having satisfied ourselves that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eIgIble for independent examination, we report in rpspect of our examination of the charitable company's financial statement5 carried out under section 145 of the Charities Act 20111'the 2011 Act'l and in carrying out my examination we have followed all the applicable Direclions given by the Charity Commission under section 14515llbl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required In an audit and consequently does not cover all the matters that an auditor considers in giving their opinlon on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently we express no opinion a5 to whether the rinancial statements present a 'true and fairf view and our report is limited to those specific matters Set out in the independent examinerfs statement. Independent examiner's statement We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect: accounting recor(Is were not kept in respect of the charitable company as required by section 386 of the 2006 Act- or the financial statements do not accord with those records: or
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 30 APRIL ZOZI the financial statements do not comply with the accounting requiremen15 of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination,. or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practlce for accounting and reporting by charities applicable to charities preparing their accounts In accordance with the Financial Reportir)g Standard applicable in the UK and Republic of Ireland IFRS 1021. We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order to enable a proper understarbding of the financial statements to be reached. Gary Moss FCA1Senior Statutory Auditor) For and on behalf of Sterlings Ltd Chartered Accountants Statutory Auditor Lawford House Albert Place London N3 IQA Date.. LOLL
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL Z021 Unrestrfcted Fund5 2021 Total Funds 2021 Total Funds 2020 Notes Income from.. Investment income Royalties Bank interest 34,331 151 8,215 34,331 151 8,215 39,338 114 11,113 Total Income 42,697 42,697 50,565 Expendlture on: Charitable activities Grant5 payable Costs of generating funds Investment management costs Governance 114,0501 114,0501 130,5221 {7,2721 {3,6411 17,2721 13,6411 12.3981 15,3021 Total expenditure 124.9631 (24,963} 138,222) Net income before other recognlsed gains and Ios5e5 17,734 17,734 12,343 Net 8alnsl{lossesl on investments IL0551 on disposal of investment assets Gain/lL0551 on revaluation of listed investments 11.4161 303,317 1122.6801 303,317 Net movement in fund5 321,051 321,051 1111,7531 Recon¢lllatlon of lunds: Total funds brought forward 3,025,843 3.025,843 3,137,596 Total funds carrled forward 3,346A94 3,346,894 3,025,843 The notes on pages 9 to 15 form part of these financial statements.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limlted by guarantee) BALANCE SHEET AS AT 30APRIL 2021 2021 Z020 Notes Fixed assets Investments 1,919,744 1,621,310 Current a55eiS Debtors Cash at bank and in hand 1.730 1,431,900 3.445 1,412,328 1,433,630 1,415,773 Credltors: amount5 falling due within One year 16,4801 111,2401 Net current assets 1,427,150 1.404.533 Net assets 3,346,694 3,025,843 Charity Funds Unrestricted funds li 3,346,894 3,025.843 Totsl funds 3,346,894 3,025,843 The Trustees consider that the company is entitled to exemption from the requirement to have an audwt under the provisions of section 477 of the Companies Act 20061 the Act'l and members have not required the company to obtain an audit for the year in question in accordance with sedion 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companles Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the members ofthe committee on IG and slgned on their behalf by Mr A. Hyams Director Company number: 03674554 The notes on pages 9 to 15 form part of these financial statements.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30APRIL 2021 l. Accounting policies 1.1 Basls of preparation of financial atements The financial statements have been prepared In accordance with Accounting and Reporting bv Charities.. Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191 issued by the charity Commission Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The Ralph And Meriel Richardson Foundation constitutes a public beneflt entity a5 defined by FRS 102. The financial statement5 are prepared under the historical cost convention. The financial statements are presented in pounds sterlin& which is also the functlonal currency of the company. Roundin8 of amount5 shown is to the nearest pound. 1.2 General Infomiatlon The foundation is a charitsble company operating in England and Wales. It is also registered with the Charitie5 Commission. The company's registered office address is 5 Stratford Place. London WIC IAX. 1.3 Company Status The company is a company limited by guarantee. The members of the company are the Directors named on page l. In the event of the comparty being wound vp, the liability in respect of the guarantee is limited to an amount not exceedlng £10 per member of Ihe company. IA Golng Concern The trustees consider that there are no material uncertainties about the foundatlon's ability to continue as a going concern. With respect to the next reporting period. the most significant areas of uncertainty that affect the carrying value of assets held by the foundation are the level of investment returns and the performance of investment markets.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMEpifs Icontlnued) FOR THE YEAR ENDED 30 APRIL 2021 l. Accounting policles Icontlnuedl l.S Fund accounting General funds are unrestricted fund5 which are avallable for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Unrealised gains and losse5 on investments are shown in the heading 'Gains1lLossl on revaluation of listed investments, in the Statement of Financial Activitie5. 1.6 Incoming resources All income 15 recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income reteivable can be measured reliably. Investment income. donations and other incoming resources are recognised on a recelvable basis. 1.7 Expendlture Expenditure 15 recogni5ed once there is a legal or constructive obllgation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be fequired in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support cost5 involved in undertaking each attivity. Direct costs attributable to a single activity are allocated directly to that actNity. Shared cost5 which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Investment management costs relate to the cost incurred for the administration of the company s investment portfolio. Govemance costs are those incurred in connection wlth administration of the charity and compliance with constitutional and statutory requirements. Grants payable are chorged In the year when the offer is made except in those cases where the offer is conditional, such grants being reco8nised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted a5 a commitment, but not accrued as expenditure. io
THE RAIPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 30APRIL2021 l. Accounting pollcles (contlnued) 1.8 Flxed asset Investments Listed investment5 are included at closlng mid-market value at the balance sheet date and unlisted investments are included at C05t. Any unrealised gains or losses on revaluation are shown separately in the Statement of Financial Activities. Realised gains or losses on disposal of investments are included in the Statement of Financlal Activities a5 Other recognised gains and1055es. 1.9 Interest recelvable Interest on funds held on deposit Is Included when receivable and the amount can be measured reliably by the charity- this is normally upon notiftcation of the Interest paid or payable by the Bank. 1.10 Debtors Other debtors are recognised at the settlement amount. Prepayment5 are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at Bank and In hand Cash at bank and in hand includes ca5h.and short tem) hlEhly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the dep051t or similar account. 1.12 Llabilities and provislons Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a Past event, it is probable that a Iransfer of economic benelit will be required In settlement. and the amount of the seltlement can be estimated reliably. Liabilities are recognlsed at the amount that the charity anticipates It will pay to settle the debt orthe amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted ai the pre-tax discount rate that reflects the risks specific to the liabilwly. The unwinding of the dlscount is recognised within interest payable and similar charges. li
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmlted by guararrtee) NOTES TO THE FINANaAL STATEMENTS (Continued) FOR THE YEAR ENDED 30 APRIL2021 1.13 Financial instruments The charity only has financial assets and finaNcial Ilabllitles of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are Subsequently measured at amortised cost Using the effective interest method. 1.14Judgements In the application of the foundation's accounting policles which are described above, the trustees are required to make judgements, estimates and assumptions about the carrying value of a55ets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on judgement and experience together with any other factors that are considered to be relevant. Actual results may differ from these e5timate5. Estlmates and any underlying assumptions used are reviewed om a continuing basis. Revision5 to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both the current period and subsequent periods. 1.15 Key Sources of estimatlon uncertalnty As discussed in the notes to the financial statements listed investments held as fixed assets are stated at market value. This policy requires that a reasonable assessment of market value is capable of being made and that market value reflects fair value. The carrying amount Is £1,918,744 {2020- £1,620,310). 2. Income from ¢haritsble activities Vnre5trirted funds 2021 Total funds 2021 Total funds 2020 Investment income Dividend income Investment interest Royalties Bank interest 31.937 2.394 151 8.215 31,937 2,394 151 8,215 36,802 2,536 114 11,113 42,697 42,697 50,565 12
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limlted by Euarantee) NOTES TO THE FINANCIAL STATEMENTS {Continued) FOR THE YEAR ENDED 30 APRIL ZOZI 3. Analysls of grants The total number of grants awarded to individuals to relieve the need, hardship and distress of British actors was 612020.. 121. 4. Governance costs Unrestrirted fund5 2021 Totsl funds 2021 Total funds 2020 Other office expenses Legal and professional fees Independent Examiner's fees Bank charges and interest Foreign currency Igainsl/losses 1,620 3.240 401 3,240 401 3,240 443 iii 3,641 3.641 5,302 5. Analy515 of re50urce5 expended by expenditu type Total 21 Total 2020 Charitable activities Costs of generating funds 14,050 10,913 30,522 7,700 24,963 38,222 13
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmlted bv Buarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 30 APRIL2021 6. Net incomlng resourcesl (resources expended) This is stated after charging= 2021 2020 Independent examiners remuneration 3,240 3,240 During the year. no Trustees received any remuneration12020.' £NILI. During the year, no Trustees received any benefits in kind12020'. £NILI. During the year, Trustees received reimbursement of expenses of £NIL12020= £2711. During the year, no staff were employed apart from the Trustees and no remuneration was paid. The Trustee5 are also the key management personnel of the charity. 7. Investments 2021 2020 Listed inve5tment5 Other investment5 1,918,744 1,620,310 1,000 1,919.744 1,621,310 Listed investments at l May 2020 IL0s5llGain Dn revaluation in the year Additions Disposals 1,620,310 298,434 1,764,018 1122,6801 137 121,1651 At 30 April 20201 1,918,744 1.620.310 Other investments - valuation at l May 2020 and 30 April 2021 1,000 1,000 14
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS {Contlnued) FOR THE YEAR ENDED 30APRIL Z021 8. Debtors 2021 2020 Accrued interest & dividend income 1,730 3,445 9. Creditors: Amounts falling due within one year 2021 2020 Accruals 6,480 11,240 10. Financial inslruments 2021 2020 Financial assets measured at fair value 1.918.744 1,620,310 Finantial assets measured at fair value comprise investments. 11. 5ummory offunds Brought Forward Incoming Resources Re50urces Expended Carried Forward General funds 3,025,843 346,014 24,963 3,346,894 GENERAL FUNDS These are investment income and royalties receivable or generated for the objects of the charity without further specified purpose and are available a5 general fund5. 12. FRC Ethlcal Standard relevant circurnstances In common with many entities of our size and nature we use our independent examiners to a5515t wlth the preparation of the financial statements. l& Related party transactlons During the year, the Foundation incurred fees amounting to £NIL12020= £NILI for professional services to a connected company. 15