Trustees’ Annual Report for the period
From 1[st] May 2022 Period start date To 30[th] April 2023 Period end date
Charity name: Norton Rose Fulbright LLP Charitable Foundation
Charity registration number: 1102142
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The principal activity of the charity involves the making of charitable donations. We do not support charities, which deal with overtly religious or political issues. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The aims and objectives of the charity are to support a range of charities and charitable activities. We aim to make donations that will make a tangible difference to those we are helping. Many of the charities, which we support, are proposed by Norton Rose Fulbright LLP partners or employees for consideration by the Trustees. Norton Rose Fulbright LLP is an international legal practice. The charity frequently makes donations to charities alongside funding raised by the activities of partners and staff of Norton Rose Fulbright LLP. The donations are made on parameters: Our association with a charity would not bring the firm into disrepute. There is no association of that charity with politics, religion, race, or nationality issues. The accounts of the relevant charity illustrate a sound financial position and a satisfactory administration overhead. Many of the charities we support are well known and what they achieve is a matter of public record. We typically review the financial reports and other information available about the charities we are considering supporting and aim to meet them. Where we support particular projects undertaken by a charity we would expect to |
| receive and to consider the charity’s reports on how those projects have been implemented. |
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| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees are aware of the statement of recommended practice issued by the Charity Commission and any modification or replacement thereof from time to time and have had regard to the guidance issued by the Charity Commission on public benefit. |
Additional information (optional) You may choose to include further statements where relevant about:
SORP reference |
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|---|---|---|
| Policy on grant making. | Para 1.38 | Our grant policy continues in the same manner as in previous years, with the on- going aim to assist our chosen charities. The charity continues to receive funds from Norton Rose Fulbright LLP law firm, Norton Rose Fulbright Services, and its employees. We continue to review our approach to grants to support current charities and new charities that we consider would most benefit from our assistance. |
| Policy on social investment including program related investment. |
Para 1.38 | The charity is not structured to invest monies for any financial return. In 2023 this related to 73 donations to charities, while acting in good faith and only in the interests of the charity, there were 37 social welfare charities benefiting from our assistance. |
| Contribution made by volunteers. |
Para 1.38 | We support a number of charities by donations, fundraising, volunteering our time and providing other assistance such as probono legal advisory; learning/training opportunities; mentoring; and other forms of business support. |
| Other |
Achievements and Performance
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | A range of charities and charitable activities. This has had a positive contribution of: 26% General Charitable Purposes 20% Education/Training 28% The advancement of health or saving lives 2% Disability 9% The prevention or relief of poverty 1% Overseas Aid/Famine relief 3% Accommodation/Housing 1% Arts/Culture/Heritage/Science 9% Development/Employment 2% Harmony/Equality or Diversity The principle charitable beneficiaries for this year are Tower Hamlets Law centre, Missing People Limited, SmartWorks and Southwest London Law Centre contributing at £120,000 for 2023. |
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Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set. |
Para 1.41 |
In many cases, the charities we support are those we have supported in the past, but new charities are considered at Trustee meetings we regularly receive and review reports/impact statements from charities we support updating us on progress and we discuss achievements against objectives with them as appropriate. The total categories funding for 2023 was £487,300, including 13 General Charitable Purposes, 14 Education/training, 22 The advancement of health or saving of lives, 2 Disability, 7 The prevention or relief of poverty, 3 Overseas Aid/Famine relief, 3 Accommodation/Housing, 1 Arts/Culture/Heritage/Science, 1 animal, 5 Development/Employment and 2 Harmony/Equality or Diversity. |
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| Performance of fundraising activities against objectives set |
Para 1.41 | The Charity frequently donates to charities alongside funding raised by the activities of partners and staff of Norton Rose Fulbright. In many cases, the charities supported specific urgent requests such as the support of major disaster relief appeals |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity receives its funding from the international law legal practice Norton Rose Fulbright LLP, Norton Rose Fulbright Services, and its employees. The donations and gifts in kind received during the year were £461,466 (2022: £449,969) and interest received during the year was £733 (2022: £14). The expenditure during the year totalled £488,834 (2022: £436,622). Amounts donated by Norton Rose Fulbright LLP staff in support of specific charities are considered restricted funds and awards are made to those charities after approval of grant applications. There is no recharge of any staff cost incurred by the Norton Rose Fulbright LLP employees. Responsibility is equal for all Trustees conducting the financial oversight with no other duties beyond this for the charity. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | No reserves are held due to expenditure relating to operating the company are paid by Norose Limited. The objective is to spend all the money it receives from Norton Rose Fulbright LLP and its employees, which the Trustees will take steps to ensure that all monies are distributed in a timely manner. As at 30thApril 2023 there were unrestricted reserves of £3,559 (2022: £30,194) and restricted reserves of £533 (2021: £4,978). |
| Amount of reserves held | Para 1.22 | Unrestricted reserves of £3,559 as at 30th April 2023 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | The charity is in a net asset position. The Trustees have a reasonable expectation that Norton Rose Fulbright Services, the charity’s main donor, and its employees will continue to support the charity’s activities in the near future; the near future being at least 12 months from the date of approving these financial statements. Should donations significantly decrease due to cost-of-living crisis’s or impact of inflations the company has no |
committed funding requirements. Accordingly, the charity continues to adopt the going concern basis in preparing the annual report and financial statements.
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
The charity receives its funding from the international law legal practice Norton Rose Fulbright LLP, Norton Rose Fulbright Services, and its employees. |
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| Investment policy and objectives including any social investment policy adopted. |
Para 1.46 | Amounts donated by Norton Rose Fulbright LLP staff in support of specific charities are considered restricted funds and awards are made to those charities after approval of grant applications. |
| A description of the principal risks facing the charity |
Para 1.46 | The Trustees have examined the major strategic, business, and operational risks, which the charity faces, and confirm that reasonable systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The main risk which the charity faces is that one of our chosen charities fails and/or acts in a manner inconsistent with our policies and objectives – for example failing to carry out its charitable purposes or breaching relevant laws and regulations. We are careful as to which charities we support – undertaking considerable due diligence on the charity before we donate, and we monitor their performance continuously both in relation to what information is publicly available and from direct communication with them. |
| Other | There are no plans to change the way in which the Charity operates, however each proposed donation will continue to be assessed on its merits. The primary source of income comes from Norton Rose Fulbright Services and will continue to be so. Should donations significantly decrease due to any cost-of-living crisis or significant inflation to GDP the company has no committed funding requirements. |
Structure, Governance and Management
| Description of charity’s trusts: |
The Norton Rose Fulbright Charitable Foundation is a charitable company limited by guarantee. The objects for which the company is established are such objects and purposes in any part of the world as are exclusively charitable in accordance with the law of England and Wales. |
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| Type of governing document (trust deed, royal charter) |
Para 1.25 | The charity is governed by its Memorandum and Articles of Association. |
| How is the charity constituted? (e.g. unincorporated association, CIO) |
Para 1.25 | The charity was initially incorporated on 22 January 2004 as a limited company called The Norton Rose Charitable Foundation and registered as a charity on 17 February 2004. |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees are appointed by the Management Committee of Norton Rose Fulbright LLP. All Trustees are Members of Norton Rose Fulbright LLP. The Trustees are all involved in various charitable activities and are selected because of their interest, experience, and familiarity with the legal responsibilities of a charitable trustee. Additional training is available if and when required. |
Additional information (optional) You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees. |
Para 1.51 | All Trustees are Members of Norton Rose Fulbright LLP. The Trustees are all involved in various charitable activities and are selected because of their interest, experience, and familiarity with the legal responsibilities of a charitable trustee. Additional training is available if and when required. |
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| The charity’s organisational structure and any wider network with which the charity works. |
Para 1.51 | The trustees (who are also directors of Norton Rose Fulbright Charitable Foundation for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable Laws and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. |
| Relationship with any related parties |
Para 1.51 | All the trustees of The Norton Rose Fulbright Charitable Foundation are current partners in Norton Rose Fulbright LLP, which is the controlling party. As at 30 April 2023, no amounts were owed by Norton Rose Fulbright LLP (2022: £nil). All income is derived from Norton Rose Fulbright LLP, Norton Rose Fulbright Services which is |
the service company of Norton Rose Fulbright LLP and its employees.
Reference and Administrative details
| Charity name | The Norton Rose Fulbright Charitable Foundation |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1102142 |
| Charity’s principal address | 3 More London, Riverside London SE1 2AQ |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Patrick Farrell | Management Committee of Norton Rose Fulbright LLP. |
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| Ffion Flockhart | Management Committee of Norton Rose Fulbright LLP. |
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– Corporate trustees names of the directors at the date the report was approved. Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others.
Description of the assets N/A held in this capacity.
Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects.
Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Patrick Farrell
Position (e.g. Secretary, Chair and Trustee Chair, etc)
Date 15 February 2024