Company Number: 03674554 Charlty Number: 1074030 THE RALPH AND MERJEL RICHARDSON FOUNDATION (A company limlted by guarantee UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limlted by guarantee) CONTENTS Page Reference and admlnistrative details of the charlty, Its trustees and advisers Trustees, report Independent examlnerfs report Statement of flnanclal actlvities Balance sheet Notes to the financlal statements 9-15
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2024 Trustees/Directors Mr Brlan Eagles. Admlnistrative Trustee Mrs Marjorie Eagles Ms Emllla Rose Elizabeth Fox lreslgned 21110124) Mr Frederlck Samson Morice Fox (appolnted 21110124) Mr Nlckolas Gra Mr Anthony Hyams Secretary Mr Brlan Eagles Charlty reglstered number 1074030 Company re£lstered number 03674554 Correspondence address 5 Stratford Place London WIC IAX Independent Examiners Sterllngs Ltd Chartered Accountants Lawford House Albert Place London N3 IQA Bankers Arbuthnot Latham & Co. Llmlted 7 Wllson Street London EC2M 2SN Solicitors Burlingtons Legal LLP 5 Stratford Place London WIC IAX Investment Managers St. James's Place Wealth Management Admlnlstration Centre PO Box 9034 Chelmsford, CM99 2XA Hawksmoor Investment Management 2nd Floor. Stratus House, Emperors Way Exeter Business Park Exeter. EXI 3QS Sarasin & Partners LLP Juxon House, 100 St. Paul's Churchyard London EC4M 8BU
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 APRIL 2024 The Trustees are pleased to present their annual trustees, report together with the financial statements of The Ralph And Meriel Richardson Foundation for the year l May 2023 to 30 April 2024. 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 thelr accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective l January 2019). Objectlves and Artlvltles Constitutlon and objects The foundatlon 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 Articles of Association 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 Britlsh actors and actresses who have professionally practlced or contributed to film and/or the Theatrical Arts {on film, stage, radio or television) and their 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 a trustee in order to fill a casual vacancy or as an additional trustee. There is no requirement on the trustees to retire by rotation. Grant making policy An applicant's request for a grant (usually with letters in support) Is as5e55ed on its merits in light of the objects of the foundation. The application is then put to the vote of the directors and a majority vote is required for approval.
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) TRUSTEES. REPORT (continued) FOR THE YEAR ENDED 30 APRIL 2024 Public Benefit 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 partlcular, the Trustee5 consider how such planned activities will contribute to the aims and objectives of The Ralph And Meriel Richard50n Foundation. Flnanclal revlew The income of the Foundation during the year has come from the investment portfolio and royalty income. The surplus for the year amounted to £195,912 (2023 - £18,239 deficit). During the year the trustees have continued to applytheirfunds in accordance with the objects clause of the Memorandum and Articles, as amended. They have made grants of £13,712 (2023 - £19,680). Reserves pollcy Followin8 the Injection of majorfundsfrom the sale of the personal assets and property of Lady Merlel Rlchardson in 2002, the initial donatlon of assets has created a reserve, held as cash at bank and Investments, as shown in the balance sheet, which will be maintalned In order to generate future income which will be available for distribution by grants each year. The accumulated reserrfes at the end of the year amounted to £3,550,60812023- £3,354,696). Investment pollcy 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 earns a reasonable return. Rlsk management The trustees have conducted a review of the major risks to which the charity is exposed. Future plans The trustees continue to plan to increa* the awareness of the Charity amongst potential applicants for gra nts.
THE RALPH AND MERIEL RICHARDSON FOUNDATION {A company limited by guaranteel TRUSTEES. REPORT {¢ontinued) FOR THE YEAR ENDED 30 APRIL 2024 Trustees, responslbllltles statement The Trustees (who are also directors of The Ralph And Meriel Richardson Foundation forthe purposes of company law) 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 Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statement5 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; obser4e the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; and prepare the flnancial statements on the goin8 concern basis unle55 It is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keepin8 adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the flnancial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2(X)6. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and 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 (Strategic Report and Director'5 Report) Regulations 2013 is not required. This report was approved by the Trustees on I [1(¥) l()IS by: and signed on their behalf MrA. Hyams Director
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2024 Independent examlner's report to the Trustees of The Ralph And Meriel Richardson Foundation We report to the trustees (who are also Directors forthe purpose of company law} on ourexamination of the financial statements of The Ralph And Meriel Richardson Foundation I'the charitable compan¢) for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes set out on pages 7 to 15. This report 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 trustees 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 charitv 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 the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act'>. 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 eligible for independent examination, we report in respect of our examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 {'the 2011 Act,) and in carrying out my examination we have followed all the applicable Directions 8iven by the Charity Commission under section 145(5){b) 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 opinion 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 as to whether the financial statements present a 'true and fairf view and our report is limited to those Specific matters set out in the independent examinerfs Statement. Independent examinerfs statement We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination givin8 us cause to believe that in any material respect:
accounting records 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 record5; or
THE RALPH AND MERIEL RICHAROSON FOUNDATION (A cornpany limited by guarantee) INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 30 APRIL 2024
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair Vie 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 Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We have no concern5 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. rl Gary Moss FCA {Senlor Statutory Auditor) For and on behalf of Sterlings Ltd Chartered Accountants Statutory Auditor Lawford House Albert Place London N3 IQA Date:
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2024 Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Income from: Donations received Investment income Royalties Bank interest 94 37,148 122 64,983 37,148 122 64,983 37,383 276 28,347 Total Income 102,347 102,347 66,006 Expendlture on: Charitable activities Grants payable Costs of generating funds Investment management costs Governance {13,712) (13,7121 (19,680) {7,353) (4,764) 17,3531 14,7641 17,724) 13,814) Total expenditure (25.829) (25,829) (31,218) Net Income before other recognised gains and1055es 76,518 76,518 34,788 Net gains/(losses} on investments Gain/(Loss) on disposal of investment assets Gain/(Lossl on revaluation of listed investments 136) (52,991) 119,394 119,394 Net movement In funds 195,912 195,912 118,239) Reconciliation of funds.. Total funds brought forward 3,354,696 3,354,696 3,372,935 Total funds carried forward 3,550,608 3,550,608 3,354,696 The notes on pages 9 to 15 form part of these financial statements.
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limited by guarantee) BALANCE SHEET AS AT 30 APRIL 2024 2024 2023 Notes Flxed assets I nvestments 1.989.570 1,875,214 Current assets Debtors Cash at bank and in hand 2.060 1,562,218 4,570 1,478,152 1,564,278 1,482,722 Credltors: amounts falling due within One year 13,240) (3,240) Net current assets 1,561,038 1,479,482 Net assets 3,550,608 3,354,696 Charlty Funds Unrestricted fund5 li 3,550.608 3,354,696 Total lunds 3,550,608 3,354,696 The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 {"the Act"} and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companie5 Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the members of the committee on S f £.y13[ and signed on their behalf by Mr A. Hya"inr- Director Company number: 03674554 The notes on pages 9 to 15 form part of these financial statements.
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 l. Accountlng pollcles 1.1 Basis of preparatlon of flnanclal statements The financial statements have been prepared in accordance with Accountlng and Reporting bv 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 {FRS 1021 leffective l January 20191 issued by the Charity Commission (Charlties SORP (FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. The Ralph And Meriel Richardson Foundatlon constitutes a public benefit entity as defined by FRS 102, The financial statements are prepared under the historical cost convention. The rinancial statements are presented in pounds sterling, which is also the functional currency of the company. Rounding of amounts shown is to the nearest pound. 1.2 General inlormatlon The foundation Is a charitable company operating in England and Wales. It is also registered with the Charitles 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 company being wound up, the liability in respect of the guarantee is limited to an amount not exceeding £10 per member of the companv. 1.4 Going Concern The trustees consider that there are no material uncertainties about the foundation's ability to continue a5 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 FOUNDATEON (A company limited by guarantee) NOTES TO THE FINANaAL STATEMENTS (contlnued) FOR THE YEAR ENDED 30 APRIL 2024 l. Accounting pollcles (contlnued) 1.5 Fund accountlng General funds are unrestricted funds which are available 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 purpose5. Unrealised gains and losses 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 hasentitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliablv. Investment income, donations and other incoming 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 economic benefits will be required 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 costs involved in undertaking each activlty. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs 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 con5i5tent 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 administration 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 being recognised as expenditure when the condition5 attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. io
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (ContSnued) FOR THE YEAR ENDED 30 APRIL 2024 l. Accounting pollcles (contlnued) 1.8 Fixed asset Investments Listed investments are included at closing mid-market value at the balance sheet date and unlisted investments are included at cost. 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 Financial Activities as 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 notification of the interest paid or payable by the Bank. 1.10 Debtors Other debtors are recognised at the settlement amount. Prepayments 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 cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Llablllt5es 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 transfer of economic benefit will be required in settlement, and the amount of the Settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the 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 obligatlon. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. li
THE RALPH AND MERIEL RICHARDSON FOUNDATION IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 30 APRIL 2024 1.13 Flnancial Instruments The charity only has financlal assets and financial liabilities 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 policies which are described above, the trustees 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 underlyin8 assumptions are based on judgement and experience together with any other factors that are considered to be relevant. Actual results may differ from these estimates. Estimates and any underlying assumptions used are reviewed om a continuing basis. Revlsions to accountin8 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 revislon affect5 both the current perlod and subsequent periods. 1.15 Key Sources of estlmatlon uncertainty 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 £1,989,570 {2023 - £1,875,214). 2. Income from charitable activitie5 Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Donations received Dividend income Investment interest Royalties 8ank interest 94 34,945 2,203 122 64,983 94 34,945 2,203 122 64,983 34,754 2,629 276 28,347 102,347 102,347 66,006 12
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmited by guarantee) NOTES TO THE FINANaAL STATEMENTS {Continued) FOR THE YEAR ENDED 30 APRIL 2024 3. Analysls of grants The total number of grants awarded to individuals to lIeVe the need, hardship and distress of British actors was 612023- 71. 4. Governance costs Unrestrlrted funds 2024 Total funds 2024 Total funds 2023 Other office expenses Legal and professional fees Independent Examiner's fees Bank charges and interest Foreign currency (8ains)/losses 346 733 3,240 439 346 733 3,240 439 138 3,240 441 15) 4,764 4,764 3,814 5. Analysis of resour¢es expended by expendlture type Total 2024 Total 2023 Charitable activities Costs of generating funds 13,712 12,117 19,680 11,538 25,829 31,218 13
TH£ RALPH AND MERIEL RICHARDSON FOUNDATION (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 30 APRIL 2024 6. Net Incomlng resources/ (resources expended) This is stated after charging: 2024 2023 Independent examiners remuneration 3,240 3,240 During the year, no Trustees received any remuneration (2023 - £NIL). During the year, no Trustees received any benefit5 in kind {2023 - £NIL). During the year, Trustees received reimbursement of expenses of £346 (2023- £48}. 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 2024 2023 Listed investments Other investments 1,989,570 1.875,214 1.989,570 1,875,214 Listed investments at l May 2023 Gain/{Loss} on revaluation in the year Additions Disposals 1,875,214 114,356 1,933,580 {58,3661 At 30 April 2024 1,989,570 1,875,214 Other investment5 valuation at l May 2023 and 30 April 2024 14
THE RALPH AND MERIEL RICHARDSON FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS {Contlnued) FOR THE YEAR ENDED 30 APRIL 2024 8. Debtors 2024 2023 Accrued interest & dividend income 2,060 4,570 9. Credltors: Amounts falllng due wlthln one year 2024 2023 Accruals 3,240 3,240 10. Flnanclal instruments 2024 2023 Financial assets measured at fairvalue 1,989,570 1,875,214 Financial assets measured at fair value comprise investments. 11. Summary of funds Brought Forward Incomlng Resources Resources Expended Carrled Fonvard General funds 3,354,696 221,741 25,829 3,350,608 GENERAL FUNDS These are investment income and royalties receivable or generated for the objects of the charity without further specified purpose and are available as 8eneral fund5. 12. FRC Ethical Standard relevant circumstances In common with many entities of our size and nature we use our independent examiners to assist with the preparation of the financial statements. 13. Related party transactions During the year, the Foundation incurred fees amounting to £73312023 £Nil} for professional services to a connected company. 15