## **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.|
|---|---|---|
|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||
|---|---|---|
|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.||
|---|---|---|---|
## **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.|
|---|---|---|
|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.|
|---|---|---|
|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.|
|---|---|---|
|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.|
|---|---|---|
|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|
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## **Names of the charity trustees who manage the charity**
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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.|
||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