Canary Wharf Contractors Fund Registered Charity Number: 1097007 Financial statements for the year ended 31st March 2025 together with Trustees, and Independent Examiner's Report
Canary Wharf Contractors Fund Trustees and OffirS Trustees Alec Vallintine (Chairman) Giles Woolley Nicholas Curran Secretary Alan Ruddy Registered office Canary Wharf Contractors Fund One Canada Square London E14 SAB Charity No: 1097007 Accountants & Independent Examiner Simmons Gainsford Professional Services Limited 38-40 Chamberlayne Road London NW10 3JE Bankers Barclays Bank Leicester LE87 2AB Page 2 Canary l•lharf Contractors Fund
Canary Wharf Contractors Fund Trustees, report for the period ended 31 March 2025 Financial Statements The Trustees present their report and financial statements for the period from 1 April 2024 to 31 March 2025. Constitution The Fund was established by a declaration of trust on 25 April 2002 and was registered with the Charity Commission on 11 April 2003 under registration number 1097007. Objectives The objects of the Fund are, but are not limited to: the relief of poverty generally but with special regard to persons and their dependent families who have been or are employed in the building and engineering trades and professions., the relief of sickness and distress of persons, who by reason of their work in or association with the building and engineering trades, have become partially or totally incapacitated through injury or illness., to support the bereaved families of persons working in the building and engineering trades or who have retired but had previously worked in the building or engineering trades" to foster and promote high educational and training standards in the fields of building, engineering and architecture", to support young people in the local community in education, training, citizenship and sport: to support families in the communrty whose children are ill or are life limited and to support institutions in the community who provide welfare and healthcare support. Organisation The trustees who served during the period and since the period end are set out on page 2. The Trustees are appointed by the board of trustees and serve for an unlimited period. The trustees meet as frequently as required to plan fund raising events and to assess grant applications. Overall control and decision making rests with the Board of Trustees. Day to day operational management is perfomied by employees of Canary INharf Contractors Limited. Page 3 Canary Vvharf Contractors Fund
Canary Wharf Contractors Fund Trustees, report (continued) for the period ended 31 March 2025 Grant making policy The charity invites applications for funding of projects. Applicants are invited to submit a summary of their proposals. The applications are reviewed against specific criteria in particular the charitable objectives set out above. Financial review As the impact of the coronavirus pandemic eased considerably during the year the fund was able to hold three fund raising events again being a golf day, a dragon boat racing evening and a five-a-side football toumament. On a cash basis during the year the golf raised £218,490, the football £22,311 and dragon boat racing £17.905, in each cases net of expenses. The fund was able to make grants totalling £213,363 in the period. The fund made a net surplus on a cash basis in the period of £48,901. Reserves The Fund had unrestricted reserves of £148.764 as at 31 March 2025. Risk Management The trustees are involved in all significant decisions and as such, actively review the major risks which the Fund fas. Our main risks are" a deterioration in the economic environment or level of construction activity leading to a reduction in income generation and a new pandemic. These risks could affect the ability to make or meet grant commitments. This would have to be countered by reducing grants made and by holding a cash reserve to act as a buffer should it be needed. Trustees. Responsibilities Charity law 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's finances and of the surplus or deficit of the charity for that year. In preparing those financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent; Page 4 Canary Wharf Contractors Fund
Canary Wharf Contractors Fund Trustees, report (continued) for the period ended 31 March 2025 state whether applicable accounting standards have been followed, subject to any material departures disdosed and explained in the financial statements; and prepare the finanGial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. 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. The Annual Report and Financial Ststements were approved by the Board of Trustees on ..44T(brg4ttand signed by the trustees: Alec Vallintine Trustee Nicholas Curran Tnjstee Page 5 Canary Wharf Contractors Fund
Canary Wharf Contractors Fund Independent Examinerfs report to the Trustees of Canary Wharf Contractors Fund for the period ended 31 March 2025 We report on the financial statements of Canary Vvharf Contractors Fund ('the Fund.) for the period ended 31 March 2025, which are set out on pages 8 to 9. This report is made solely to the Fund's trustees, as a body, in accordance with section 144 of the Charities Act 2011 ("the 2011 Act). Our examination has been undertaken so that we might state to the Fund's trustees those matters we are required to state to them in an independent examiner's 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 Fund and the Fund's trustees as a body for our examination. for this report or for the opinions we have formed. Respective responsibilities of Trustees and Examiner The Fund's Trustees are responsible for the preparation of the accounts. The Fund's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. It is our responsibility to= examine the accounts (under section 145 of the 2011 Act); to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145 (5)(b) of the 2011 Act); and to state whether particular matters have come to our attention. Basis of independent examinevs report Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Fund and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with our examination, no matter has come to our attention: which gives us reasonable cause to believe that in any material respect the requirements" a) to keep accounting records in accordan with section 130 of the 2011 Act., and b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met" Page 6 Canary Iltharf Contractors Fund
Canary Wharf Contractors Fund Independent Examinerfs report to the Trustees of Canary Wharf Contractors Fund for the period ended 31 March 2025 (continued) or 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Patrick McNamara For and on and behalf of Simmons Gainsford Professional Services 3840 Chamberlayne Road London NW10 3JE Date: L&.--fsW - 2a z L Page 7 Canary IdVharf Contractors Fund
Canary Wharf Contractors Fund Statement of financial activities For the period 1 April 2024 to 31 March 2025 Notes 2025 2024 Incoming resources Activities for generating funds.. Events Interest receivable 460.711 3.623 347,005 2,570 Totsl incoming resources Resources expended Cost of generating funds.. Events 464,334 349.575 (202.005) (200,218) Direct charitable expenditure Grants (213,363) (202,961) Bank Charges (65) {75) Total resources expended (415.433) {403,254) Net incomingl(outgoing) resources 48,901 (53,679) All income and expenditure relates to continuing activities, there were no gains or losses other than those reported above. All funds were unrestricted. The accompanying notes form an integral part of these financial statements. Page 8 Canary INharf Contractors Fund
Canary Wharf Contractors Fund Balan Sheet At 31 March 2025 Notes 2025 2024 Current assets Cash at bank and in hand 148,764 9g,863 Current liabilities Net assets 148,764 99,863 Total funds in reserve 48,764 99.863 The financial statements on pages 8 to 9 were approved by the Board of Trustees on x.a.7126... and signed by: Alec Vallintine Trustee Nicholas Curran Trustee The accompanying notes form an integral part of these financial statements. Page 9 Canary IMrf Contractors Fund
Canary Wharf Contractors Fund Notes to the financial statements For the period ended 31 March 2025 Accounting policies Basis of accounting These financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards. The financial statements comply with the Statement of Recommended Practice 'Accounting & Reporting by Charities" SORP (FRS 102). b) Incoming Resources Incoming resources are accounted for on a received basis. Resources expended Expenditure is included on a cash basis. Costs of generating funds comprise the cost of running fundraising events. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. No management and administration costs were incurred as the trustees and Reporting Accountants provided their services for free. d) Fund accounting General funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Cash flow statement No cash flow statement has been produced as, in the opinion of the Trustees, it would not add to the information given in the accounts. Taxation No corporation tax has been provided for in these accounts because the income of the charity is within the exemption granted by Section 505 of the Income and Corporation Taxes Act 1988. Page 10 Canary ltharf Contractors Fund
Canary Wharf Contractors Fund Notes to the financial statements (continued) For the period ended 31 March 2025 Grants payable The amount payable in the period comprise". 2025 London Air Ambulance 25,000 25.000 27.100 26,450 5.000 25,000 30,000 10.000 10,000 20.000 5.000 1.200 3.613 St Joseph's Hospice Spread a Smile Demelza Coney Construction Youth Trust Lighthouse Cardboard Citizens First Step Opportunities Varietyclub Roald Dahl's Mervelous Childrens Charity Cancer Fund for Children Sundry Small Donations 213,363 Trustees The trustees did not receive any remuneration and were not reimbursed for any personal expenses in the period. Page 11 Canary Iptharf Contractors Fund