REGISTERED CHARITY NUMBER: 1085985
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
FOR
THE STANLEY FOSTER CHARITABLE TRUST
Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
THE STANLEY FOSTER CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
THE STANLEY FOSTER CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
The trustees present their report with the financial statements of the charity for the period 6 April 2023 to 5 October 2024. The trustees have adopted the provisions of Accounting and Reporting by 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 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1085985
Principal address
17 Lankton Close Beckenham Kent BR3 5DZ
Trustees
Ms N A Harris Ms J M Nevett J M G Hamilton-Sharp
Independent Examiner
John Duggan Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
Approved by order of the board of trustees on 16 December 2024 and signed on its behalf by:
J M G Hamilton-Sharp - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE STANLEY FOSTER CHARITABLE TRUST
Independent examiner's report to the trustees of The Stanley Foster Charitable Trust
I report to the charity trustees on my examination of the accounts of The Stanley Foster Charitable Trust (the Trust) for the period 6 April 2023 to 5 October 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I 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 accounts to be reached.
John Duggan
Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
16 December 2024
Page 2
THE STANLEY FOSTER CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
| Unrestricted Endowment funds fund Notes £ £ INCOME AND ENDOWMENTS FROM Investment income 2 53,921 - EXPENDITURE ON Raising funds - - Other 37,210 - Total 37,210 - NET INCOME 16,711 - RECONCILIATION OF FUNDS Total funds brought forward 8,697 590,922 TOTAL FUNDS CARRIED FORWARD 25,408 590,922 |
Period 6/4/23 to Year Ended 5/10/24 5/4/23 Total Total funds funds £ £ 53,921 31,538 - (31,623) 37,210 25,500 37,210 (6,123) 16,711 37,661 599,619 561,958 616,330 599,619 |
|---|---|
The notes form part of these financial statements
Page 3
THE STANLEY FOSTER CHARITABLE TRUST
BALANCE SHEET 5 OCTOBER 2024
| Notes FIXED ASSETS Investments 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds Endowment funds TOTAL FUNDS |
Unrestricted funds £ - 969 28,092 29,061 (3,653) 25,408 25,408 25,408 |
Endowment fund £ 585,376 - 5,546 5,546 - 5,546 590,922 590,922 |
2024 Total funds £ 585,376 969 33,638 34,607 (3,653) 30,954 616,330 616,330 25,408 590,922 616,330 |
2023 Total funds £ 585,378 638 16,824 17,462 (3,221) 14,241 599,619 599,619 8,697 590,922 599,619 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 December 2024 and were signed on its behalf by:
J M G Hamilton-Sharp - Trustee
The notes form part of these financial statements
Page 4
THE STANLEY FOSTER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Period | ||
| 6/4/23 | ||
| to | Year Ended | |
| 5/10/24 | 5/4/23 | |
| £ | £ | |
| Interest receivable | 117 | 35 |
| Investment income | 53,804 | 31,503 |
| 53,921 | 31,538 |
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continued...
THE STANLEY FOSTER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 5 October 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the period ended 5 October 2024 nor for the year ended 5 April 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Endowment funds fund £ £ INCOME AND ENDOWMENTS FROM Investment income 31,538 - EXPENDITURE ON Raising funds - (31,623) Other 25,500 - Total 25,500 (31,623) NET INCOME 6,038 31,623 RECONCILIATION OF FUNDS Total funds brought forward 2,659 559,299 TOTAL FUNDS CARRIED FORWARD 8,697 590,922 5. FIXED ASSET INVESTMENTS Listed Unlisted investments investments £ £ COST At 6 April 2023 557,650 27,728 Disposals (2) - At 5 October 2024 557,648 27,728 NET BOOK VALUE At 5 October 2024 557,648 27,728 At 5 April 2023 557,650 27,728 |
Total funds £ 31,538 (31,623) 25,500 (6,123) 37,661 561,958 599,619 Totals £ 585,378 (2) 585,376 585,376 585,378 |
|---|---|
There were no investment assets outside the UK.
The market value of the charity's listed investments was £714,546 (2023:£661,973).
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continued...
THE STANLEY FOSTER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
| 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 6/4/23 £ Unrestricted funds General fund 8,697 Endowment funds Endowment fund 590,922 TOTAL FUNDS 599,619 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 53,921 TOTAL FUNDS 53,921 Comparatives for movement in funds At 6/4/22 £ Unrestricted funds General fund 2,659 Endowment funds Endowment fund 559,299 TOTAL FUNDS 561,958 |
2024 2023 £ £ 969 638 2024 2023 £ £ 3,653 3,221 Net movement At in funds 5/10/24 £ £ 16,711 25,408 - 590,922 16,711 616,330 Resources Movement expended in funds £ £ (37,210) 16,711 (37,210) 16,711 Net movement At in funds 5/4/23 £ £ 6,038 8,697 31,623 590,922 37,661 599,619 |
|---|---|
continued...
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THE STANLEY FOSTER CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,538 | (25,500) | 6,038 |
| Endowment funds | |||
| Endowment fund | - | 31,623 | 31,623 |
| TOTAL FUNDS | 31,538 | 6,123 | 37,661 |
The endowment fund includes £94,846 of realised capital gains.
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 5 October 2024.
Page 8
THE STANLEY FOSTER CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 6 APRIL 2023 TO 5 OCTOBER 2024
| Period | |||
|---|---|---|---|
| 6/4/23 | |||
| to | Year En | ded | |
| 5/10/24 | 5/4/23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Investment income | |||
| Interest receivable | 117 | 35 | |
| Investment income | 53,804 | 31,503 | |
| 53,921 | 31,538 | ||
| Total incoming resources | 53,921 | 31,538 | |
| EXPENDITURE | |||
| Raising donations and legacies | |||
| Loss on sale of tangible fixed assets | - | (31,623) | |
| Other | |||
| Donations | 26,100 | 24,600 | |
| Support costs | |||
| Governance costs | |||
| Accountancy and legal fees | 11,110 | 900 | |
| Total resources expended | 37,210 | (6,123) | |
| Net income | 16,711 | 37,661 |
This page does not form part of the statutory financial statements
Page 9