Company Number: 03674554 Charlty Number: 1074030 THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmlted by guarantee) UNAUDITED TRUSTEES, REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL2022
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A company limited by guarantee) CONTENrs Page Reference and administrative detalls of the charlty, Its irustees and advlsers Trustees, report 24 Independent examlnerf5 report statement of financial actlvltles Balance sheet Notes to the financial statements 9.15
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limlted by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30APRIL 2022 Trustees/Directors Mr Brlan Eagles, Administrative Trustee Mrs Marjorfe Eagles Ms Emilia Rose Elliabeth Fox Mr Nickolas Grace Mr Anthony Hyams Secretsry Mr Brlan Eagles Charity registered number 1074030 Company reglstered number 03674554 Corre5ponden¢e address 5 Stratford place London WIC IAX Independent Examlners Stèrlings Ltd Chartered Accountants Lawfoyd House Albert Place London N3 IQA Bankers Arbuthnot Latham & Co. Limited 7 Wllson Street London EC2M 2SN Sollcltors Burlington5 Legal LLP 5 Stratford Place London WIC IAX Investment Managers St. James's Place Wealth Management Admlnlstratlon Centre PO Box 9034 Chelm5furd. CM99 2XA Hawksmoor Investment Management The Senate, Southernhay Gardens Exeter. EXI IUG Sarasln & Partners LLP Juxton House, 100 St. Paul's Churchyard London EC4M 8BU
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30APRIL 2022 The Trustees are pleased to present their annual trustees, report toeether with the finanaal statements of The Ralph And Meriel Richardson Foundation for the year l May 2021 to 30 April 2022. 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 preparlng their accounts in accordance with Financial Reporting Standard appllcable In the UK and Republic of Ireland IFRS1021 (effective l January 20191. Objectives and Activities Constitution and objects The foundation is a charitable company limited by guarantee. It is entered on the Central Register of Charities under number 1074030. The governing instrument is the Memorandum and Article5 of Association which were revised on 2 January 2010. In the event of the company being wound up member5 are required to contrlbute an amount not exceeding £10. The objects of the charlty are to relieve the need, hardship and distress of British attors and actresses who have professionally practiced or contributed to film andlor the Theatrical Arts lon film. stage, radio or television) 3nd thelr spouses or children. Trustees The trustees who have served during the year and since the year end are set out on page l. The trustees of the company are also company directors for the purposes of company law. Under the requirements of the Memorandum and Articles of Association the trustees may appoint any person who is willing to be 3 trustee in order to flll a casual vacancy or as an addStional trustee. There is no requiremerbt on the trustees to retire by rotation. Grant making policy An applicant's request for a grant lusually with letters in 5UPPOrtI 15 assessed on its merits in Ilght of the objects of the foundation. The application is then put to the vote of the directors and a majoritv vote 15 required for approval.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmited by guaranleel TRUSTEES, REPLNIT Icontinuedl FOR THE YEAR ENDED 30 APRIL 2022 Publlc Benefit We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objertives and in planning our future activitie5. In particular, the Trustees consider how such planned actlvitie5 will contribute to the alms and objectives of The Ralph And Meriel Richardson Foundation. Flnanclal revlew The Ir)come of the Foundation during the year has come from the investment portfolio and royaltv income. The surplus for the year 3mounted to £26,04112021- £321.0511. During the yearthe trustoes have continued to apply theirfund5 in accordancè with the objects clause of the Memorandum and Articles, as amended. They have made grants of £16,41712021- £14,050]. Reserves policy Followingthe injection of major funds from the sale of the personal assets and property of Lady Meriel Richardson in 2002, the InStial donatlon of assets created a reserve, held as cash at bank and Invostments, as shown in the balance sheet, which will be maintained in older to generate future income which will be available for distribution by grants each year. The accumulated reserves at the end of the year amounted to £3,372,93512021- £3,346,894). Investment policv The directors have considered the most appropriate policy for investing funds and continue to make the investments in a cautious way which 8lves protection to capltal and earns a reasonable retum. Risk management The trustees have condurted a review of the major risks to which the charity is exposed. Future plans The trustees continue to plan to increase the awareness of the Charlty amongst potential applicants for grants.
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A company Ilmlted by guarantee) TRUSTEES, REPORT (contlnuedl FOR THE YEAR ENDED30 APRIL 2022 Trustees, responslbllltle5 Statement The Trustees (who are also directors of The Ralph And Meriel Richardson Foundation for the PLJrposes of company lawl are responsible for preparing the Trustee5 report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generallv Accepted Accounting Practice). Company law require5 the Trustees to prepare financial statements for each financial year. Under company law the Tru_%teès mLJSt not approve the financlal statements unless they are satisfied that they give a true and fair view of the state of affair5 of the charitable company and of the incoming resour5 and application of resources, Sncluding the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to= select Sultable accounting policies and then apply them consistentlyp observe the method5 and principles in the Charities SORP- make jud8ments and accounting estimates that are reasonable and prudent,. and prepare the financial statemek)ts on the gaing concern ba515 unle55 it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitsblc company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2W6. ThÈy are also responsible for safeguarding the assets of the charity and hénce for taklng reasonable Steps for the preventlon and detectlon of fraud and other irregularities. Small MpanY provisions Slnce the company qualifies as small under section 383. the strategic report required of medlum an(J large companies under The Companles act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. Thls report was approved by the Trustees on y: ond signed on their behalf MrA. Hyams Dlrector
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2022 IrKlependent examiner's report to the Trustees of The Ralph And Meriel Richard50n Foundation We report to the trustee5 (who are also Directors for the purpose of company lawl on our examination of the financial statements of The Ralph And Meriel Richardson Foundation I'the charitable companv'l for the year ended 30 April 2022 which comprise the Statement of Financlal Artivities, the Balance Sheet and related notes set out on pages 7 to 15. This report is made solel¥ 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 trustees those matter5 we are required to state to them in thi5 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. Responslbllltles and basls of report As the trustees of the charitable company you are responsible for the preparation of thè flnancial statements in accordance with the requirements olthe Companies Act 21X161'tho 2006 Act'l. Havlng satisfied ourselves that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eliglble for independent examination, we report in respect of our examinatlon of the charitable company's financial statements 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 Directions given by the Charity Commisslon under section 14515llbl of the 2011 Act. An Independent examination daes 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 opinion on the financial statements. The planning and conduct of an audit goe5 beyond the limited assurance that an independènt examination can provide. Consequentlywe expres£ no oplnlon as to whether the financial statement5 prent a 'true and fair, view and our report is limited to those specific matters set out in the Independent examinerfs statement. Independent eXamineS statement We havè completed ourexamination. We confirm that no material matters have come to our attention in connection with the examinatlon glving us cause to believe that in any material respect.. accounting records were not kept in respect of the charitable company as rèquirod 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 {continuedl FOR THE YEAR ENDED 30APRIL2022
thè financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremént that the financial statements give a 'true and fair Vie which is not a matter considered as part of an independent èxamination.. or the financial Statements have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Prattice for accounting and reporting by charities applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard appllcable 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 this report in order to enable a proper understanding of the financial statements to be reached. Gary Moss FCA (Senior Statutory Auditor) For and on behalf of Sterlings Ltd Chartéred Accountant5 Statutory Auditor Lawford House Albert Place London N3 IQA Date-.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmited by 8uaranteel STATEMENT OF HNANCIAL AcfiviTIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 APRIL 2022 UnrtrIcted Funds Z022 Total Fund5 2022 Total Fund5 2021 Notes Income from.. Investwnent income Royalties Bank interest 35,477 73 35.477 73 7.949 34,331 151 8,215 7,949 Total Income 43,499 43,499 42,697 Expendlture on: Ch3ritabSe activities Grants payable C05t5 Of generating funds Investment management costs Governance 116,4171 {16.4171 114,0501 17,8551 14,7781 17,8551 14,7781 17,2721 13,6411 Totsl expendlture 129,0501 129,0501 124,9631 Net income before other recognised 8ains and losses 14,449 14.449 17,734 Net galnsjllosses) on investments Gain/lLossl on disposal of investment assets Gain/lLossl on revaluation of list@d investment5 448 11,144 448 11,144 303.317 Net movement infunds 26,041 26,041 321,051 Reconclllatlon of funds: Total funds brought forward 3.346,894 3,346,894 3,025,843 Total funds carrled fonvard 3,372,935 3,372,935 3.546.894 The notes on pages 9 to 15 form part of these financial statements.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmited by guarantee) BALANCESHEET AS AT 30 APRIL 2022 2022 2021 Notes Fixed assets Investments 1.934,580 1,919,744 Current asset5 Debtors Cash at bank and in hand 3,054 1,438,901 1,730 1,431,900 1.441,955 1,433,630 Creditors.. amounts falling due within One year 13,6001 16,4801 Net current assets 1.438,355 1,427,150 Net assets 3,372.935 3,346,894 Charlty Funds Llnrestricted funds li 3.372,935 3,346,894 Total funds 3.372,935 3,346,894 The Trustee5 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 Art") and members have not required the company to obtain an audit for the year in que5tlon in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirèments of thè Companies Att 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the members of the committee on and signed on their behalf by Mr A. Hyams Director Company number: 03674554 The notes on pages 9 to 15 form part of these financial statement5.
THE RALPK AND MERIEL RICHARDSON FOUNDATION IA company limlted by Buaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 30 APRIL 2022 l. Accountlng pollcles 1.1 Basis of preparatlon of financial statements The financlal statements havÈ been prepared in accordance with Accounting and ReFJOrting by Charitie5- Statemènt of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 lef(ective l January 20191 issued by the Charity Commission (Charities 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 constite5 a public benefit enttty as defined by FRS 102. Thè financial statements are prepared under the historical cost ctsnvention. The flnancial statements are presented in pounds sterlin& which is also the functional currency of the company. Roundlng of amounts shown Is to the nearest pound. 1.2 General Informatlon The foundation is a charitable company operating in England and Wales. It Is also registered with the Charitie5 Commisslon. 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 pa8e l. In the event of the company being wound up, the liability in respect of the guarantee Is limited to an amount not exceeding £10 per member of the company. 1.4 Going Concern The trustee5 consider that there are no material uncertainties about the foundation'5 ability to continue as a going concern. With respertto the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the foundation are thè level of investment returns and the performance of investment markets.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED30 APRIL 2022 l. Accountlng pollcies l¢ontinued} 1.5 Fund accountlng General fund5 are Unrestrict funds which are available for use at the discretion of the Tru5tee5 in furtherance of the general objectives of the charlty and whlch have not been designated for other purposes. Unrealised gain5 and Sosses on investments are shown in the headin8 'Gains/lLossl on revaluation of listed investments, in the Statement of Financial Activities. 1.6 Incomlng resources All Income is recognised once the Charity has entitlement io the income, it is probable that the income will be received and the amount of income receivable can be measured rellablv. Investnient Income, donatlons and other Sncoming resources are recognised on a receivable basis. 1.7 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economlc benefits will be required in sÈttlement and the arnount of the obligation can bè 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 costs involved in undertakinE each activity. Direct costs attributable to a single activity are allocated d1ctlY to that activity. shared costs which contriljute to more than one activity and 5UPPOrt costs which are not attributablc to a single activity are apportioned between those artivities on a basls consistent with the use of resources. Investment management costs relate to the cost incurred for the administration of the company's investment portfolio. Governance costs are those incurred in connection with administratlon of the charity and compliance with constitutional and statutory requirements. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants belng recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitmènt, but not accrued as expenditure. io
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A Company Ilmited by 8uaranteel NOTES TO THE FINANCIAL STATEMENTS (Contlnued} FOR THE YEAR ENDED 30 APRIL 2022 l. A<¢ounting policies {continuedl 1.8 Fixed asset Investments Listed investments are included at closing rnid-market value at the balance sheet date and unlisted investments are included at cost. Any unrealised gains or ID%es on revaluation are shown separately In the Statement of Financial Activities. Reali5ed gains or losses on disposal of Investments are Included in the Statement of Financlal Aclivities as other recognised gains and105ses. 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 notification of the interesl paid or payable by the Bank. i.io Debtors Other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of anytrade discount5 due. 1.11 Cash at Bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments Wlth a short maturity of three months or less from the date of acquisition 01 opening of the deposit or similar account. 1.12 Liabilltles and provislons Liabilities a recogni5ed when there is an obllgation at the Balance sheet date as a result of a past event, it Is probable that a transfer of economlc benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabililies are recognised at the amount that the charity anticipates it will ply to settle the debt orthe amount It has received as advanced payrllents for the 8¢x)ds 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 thosè amounts, discounted at the pre-tay discount rate that rÈflectS the risks specific to the liability. The unwinding of the dlscount is recognised within interest payable and similar charg. li
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS IContlnLtedl FOR THEVEAR ENDED 30 APRIL2022 1.13 Flnancial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Baslt financial instruments are initially recognised at trans3Ction value and subsequÈntly measured at their settlement value with the exception of bank loans which are subsequently me3sured at amortised cost Using the effective interest method. 1,14Judgements In the application of the foundation's accounting policies which are described above, the tru5tee5 are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumption5 are based on judgement and experience tr)gÈther with any other factors that are considered to be relevant. Actual results may differ from these estimates. Estimates and any un(Jerlying assumptlons used are reviewed om a continuing basis. Rèvisions to accounting estimates are recogni5ed 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 perlods If the revision affects both the turrent period and subsequent periods. 1.15 Key Sources of estimatlon uncertainty As d15cussed in the notes to the financial statement5 listed investments held as fixed assets are statéd at marketvalue. This policy requires that a rèasonable assessment of market value Is capablc of being made and that market value reflect5 fair value. Thè carrying amount is £1,933,580 I2021- EI,918,7441. 2. Income from charitable activities Unrestricted funds 2022 Total funds 2022 Totsl funds 2021 Investment income Dividend income Investment interest ROYaleS Bank interest 32,819 2,658 73 32.819 2.658 73 7,949 31,937 2,394 151 8,215 7,949 43,499 43,499 42,697 12
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENfs Icontinuedl FOR THE YEAR ENDED 30 APRIL 2022 3. Analysis ol grants The total number of grants awarded to individua15 to relleve the need, hardship and distress of Britlsh actors wa$ 712021.. 61. 4. Govemance tasts Unrestrlcted funds 2022 Total funds 2022 Total funds 2021 Other office expenses Legal and professional fees Indepèndent Examiner's fees Bank charges and interest Foreign currency Igainslllosses 334 759 3,240 441 334 759 3,240 441 3.240 401 4.778 4,778 3,641 5. Analysis of resources expended by expenditure type Total 2022 Total 2021 Charitible activities Costs of generating funds 16,417 12,633 14.050 10,913 29,050 24,%3 13
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A company limlted by guarantee) NOTES TO THE HNANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED30 APRIL 2022 6. Net Incomlng resourcesl (resources expended) This is stated after charging.. 2022 2021 Independent examiners remuneratian 3,240 3,240 Durlng the year, no Trustees received any remuneration12021.. £NILI. During the year, no Trustees received any benefits in kind12021= £NILI. During the year, Trustees received reimbursement of expenses of £24412021.. £NILI. During the year, no staff were employed apart from the Trustees and no remuneration was paid. The Trustees are also the key management personnel of the charity. 7. Investments 2022 2021 Listed investments Other investments 1,933,580 I,oou 1,918,744 1,000 1,934.580 1,919,744 Listed investments at l May 2021 Gain/lLossl on revaluation in the year Additions Disp05a15 1,918,744 5,813 33,901 124,8781 1,620.310 298,434 At 30 April 2022 1,933,580 1,918,744 Other investments valuation at l May 2021 and 30 April 2022 1,000 1,000 14
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A Company limited by guarantee) NOTES TO THE FINANCIAL sTATEmETr Icontinuedl FOR THE YEAR ENDED ao APRIL 2022 8. Debtors 2022 2021 Accru interest & dlvidend income 3,054 1,730 9. Creditors: Amounts falllng due within one year 2022 2021 Accruals 3,600 6,480 10. Flnan¢lal Instruments 2022 2021 Financial assets measured at falr value 1,933,580 1,918,744 Flnanclal assets measured at fair value comprise investments. 11. Summary of funds Brought Forward Incoming Resouwes Re50urc Expended Carried Forward General funds 3,346,894 55,090 29,049 3,372.935 GENERAL FUNDS These are investment incorne and royalties receivable or generated for the objects of the charity wIthO further specified purpose and are available as general funds. 12. FRC Ethical Standard relevant circumstances In common with many entities of our size and nature we use our independent examinèrs to assist with the preparation of the financial statements. 13. Related party transactions During the year, the Foundation incurred fees amounting to £759 12021.. £NILI for professional services to a connerted company. 15