----- Start of picture text -----
THE GEOFF & FIONA SQUIRE FOUNDATION
Trustees’ Report
and Unaudited Financial Statements
for the year ended 31 March 2024
Registered Charity Number 1085553
----- End of picture text -----
THE GEOFF & FIONA SQUIRE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INDEX
Charity information Trustees’ report Independent Examiner’s report Statement of financial activities
Balance sheet Accounting policies
Notes to the financial statements
1 3 6
7
8 9 11
THE GEOFF & FIONA SQUIRE FOUNDATION
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CHARITY INFORMATION
Trustees
Mr GW Squire Ms F P Squire Mr B G Peerless Principal Office 18 Henry Moore Court Manresa Road London SW3 6AS
Registered Charity Number
1085553
Accountants
Lane Monnington Welton Riverside View Basing Road Basingstoke Hampshire RG24 7AL Independent Examiner
Geoffrey Frost Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Bankers
Weatherbys Bank Sanders Road Wellingborough NN8 4BX Investment Managers
Rathbones Investment Management Limited Port of Liverpool Building Pier Head Liverpool L3 INW
Waverton Investment Management Limited 16 Babmaes Street London SW1Y 6AH
Page 1
THE GEOFF & FIONA SQUIRE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CHARITY INFORMATION
Solicitors
Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD
Page 2
:
THE GEOFF & FIONA SQUIRE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES’ REPORT
Achievements and performance
Although the trustees noted a small decrease in the capital value of the investments during the year, they remain satisfied that in spite of current conditions they retain well diversified investments and a prudent investment strategy.
In the current year the charity provided grants totalling £891,180 to 79 different registered charities (a decrease of £84,659 on previous year). Financial review The trustees report that the total funds of the charity have decreased from £7.75m to £7.67m during the year due mainly to the positive return of the investment portfolios countered by the excess of donations over income.
It is the policy of the charity that liquid unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least one year’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in capital values of and/or income from investments, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The balance sheet shows net assets and reserves of approximately £7.67m. The Trustees intend to continue to make donations at their discretion and to maintain the current level of charitable giving if possible.
The charity's investment objectives are to balance current and future beneficiary needs by: e maintaining, and if possible, increasing the value of the investments in the future; e producing a consistent and sustainable return to support charitable expenditure; and e delivering these objectives within acceptable levels of risk.
The investment performance is monitored by the trustees. At the year end the market value of investments was approximately £7.3m, showing a decrease from the previous year. However, during the year £182k of income was generated which has increased from the previous year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks. The major risk identified is a fall in the value of the charity's investments. The trustees have a prudent policy of risk management, as evidenced by the holding of at least a year of estimated forward expenditure in cash, cash equivalents or liquid assets, and the selection of appropriate risk management mandates for the various fund managers. The trustees confirm that they have examined the major risks which the charity faces and confirm that systems have been established to enable these risks to be mitigated.
The trustees do not foresee significant changes in the charity's policies, with the investment in capital markets and donations to other charitable bodies expected to continue for the foreseeable future. Statement of trustees’ responsibilities The trustees 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).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to: e select suitable accounting policies and then apply them consistently; ¢ observe the methods and principles in the Charities SORP 2019 (FRS 102); * make judgements and estimates that are reasonable and prudent; e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; ¢ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
it is inappropriate to presume that the
Page 4
THE GEOFF & FIONA SQUIRE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT Th6 trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities A¢t 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding th8 assets of the charity and hènce for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, report was approved by the Board of Trustees. Trustee Date Page 5
the accounts do not accord with those records; or
----- Start of picture text -----
& &
----- End of picture text -----
----- Start of picture text -----
181,968 147,135
----- End of picture text -----
~~~[941,697]~~[«769,748]
(77,632) (4,087,559)
7,672,385. 7,750,017
THE GEOFF & FIONA SQUIRE FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BALANCE SHEET AS AT 31 MARCH 2024 31 Mar 2024 31 M•r 2023 Not• FIXED ASSETS Investments- managed lurnl9 7,326.098 7.406,756 CURRENT A88ETS Ca¥h al hand and In bar Total curront 361.505 381,505 364.461 364,461 CURRENT LIABILITIES Credilor8.' amounts falling due wolhln one year N•t curr•nt a880t(lIablIIÈl•J) 15.218 21,200 346.287 343,261 Il•t a8••tsllll•blllll••) 7.872.385 7.750.017 THE FUNDS OF THE CHARITY UnrMtrlct•d fund• 10 7.872.385 7.750.017 Total ¢h•rlty lunds 7.672.385 7,750,017 The accomp8nylng notes form part ol Ihe flnanclal 8tatèm&nl8. The flnanclal 8lal•rrnnl8 re approved and aulhor18ed for l$)ue by Ihe Iru8lees on . arKI 8lgned on Ih•lr beh•lf Trustee Page 8
:',-$.
,3
1&
1&
&1+
1+
1&
1& funds held and the expected level 1& income and expenditure for 12 months from authorising these financial income and expenditure is sufficient with the level 1& | reserves for the charity to be able to continue as a going
&
&
&
----- Start of picture text -----
&
----- End of picture text -----
&
&
)
| Mar 2024 Unrestricted Total Funds |
No. | 31 Mar 2023 Unrestricted Total Funds |
|---|---|---|
| & | No. | & |
| 15,048 | ) | |
| 5,000 | ) | |
| 1,100 | ) | |
| 2,000 | ) | |
| 250,000 | 250,000 | |
| 728 | ) | |
| 2,500 | ) | |
| 5,000 | ) | |
| ) | 3,000 | |
| ) | 5,000 | |
| 5,000 | ) | |
| 5,000 | ) | |
| 5,000 | ) | |
| 5,500 | ) | |
| ) | 750 | |
| 5,000 | ) | |
| 5,000 | ) | |
| ) | 150,000 | |
| ) | 5,500 | |
| 6,000 | 6,000 | |
| 8,000 | ) | |
| 3,000 | ) | |
| 3,155 | ) | |
| 4,140 | ) | |
| 1,000 | ) | |
| 10,000 | ) | |
| 500 | ) | |
| ) | 5,000 | |
| 500 | ) | |
| 1,000 | ) | |
| 5,000 | ) | |
| 50,000 | ) | |
| 16,500 | ||
| 3,708 | ) | |
| 19,428 | ) | |
| 50,000 | 118,000 | |
| 5,000 | ) | |
| 10,000 | ) | |
| 10,000 | ) | |
| 5,000 | ) | |
| 2,500 | ) | |
| ) | 70,143 | |
| 6,500 | ) | |
| ) | 17,182 | |
| 10,000 | 10,000 | |
| 9,292 | ) | |
| 5,000 | ) | |
| 10,152 | ) | |
| 7,000 | ) | |
| 10,180 | ||
| ) | 21,300 |
| No. | |||
|---|---|---|---|
| & | No. | & | |
| 584,431 | 661,875 | 661,875 | |
| 3,951 | ) | ||
| ) | 12,950 | 12,950 | |
| ) | 5,000 | 5,000 | |
| 5,000 | ) | ||
| 5,000 | ) | ||
| 7,500 | 7,500 | 7,500 | |
| 7,840 | ) | ||
| ) | 10,000 | 10,000 | |
| 7,186 | ) | ||
| 23,429 | ) | ||
| 5,000 | ) | ||
| ) | 10,000 | 10,000 | |
| ) | 42,730 | 42,730 | |
| 2,876 | ) | ||
| 5,000 | ) | ||
| 500 | ) | ||
| 5,000 | ) | ||
| ) | 1,000 | ||
| 3,000 | ) | ||
| ) | 40,000 | 40,000 | |
| 5,000 | ) | ||
| 5,000 | 5,000 | 5,000 | |
| ) | ) | ||
| 4,500 | 4,500 | 4,500 | |
| 5,000 | ) | ||
| 500 | ) | ||
| 1,000 | ) | ||
| 5,000 | ) | ||
| 5,000 | ) | ||
| 7,385 | ) | ||
| 5,000 | ) | ||
| 5,000 | ) | ||
| 25,000 | 24,333 | 24,333 | |
| 5,000 | ) | ||
| 10,000 | ) | ||
| 5,000 | ) | ||
| 10,000 | ) | ||
| 39,831 | 33,950 | 33,950 | |
| 10,000 | ) | ||
| 6,769 | ) | ||
| 1,000 | ) | ||
| ) | 2,800 | 2,800 | |
| 40,097 | 52,701 | 52,701 | |
| ) | 50,000 | 50,000 | |
| ) | 5,000 | 5,000 | |
| ) | 6,500 | 6,500 | |
| 20,000 | ) | ||
| 2,385 | ) | ||
| 2,000 | ) |
& & 16,536 2,880 " )
& & )
&
&
&
&
& & 6,152 150 3,600 2,016 3,300 15,218 funds Total Total Gains/ Total incoming resources (losses) on resources expended investments & & & & &
& & follows: 2024 31 Mar & &
&