Charity Registration No. 1105142
BEZVON CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 13 JULY 2022
BEZVON CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees and Professional Advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 10 |
BEZVON CHARITABLE FOUNDATION
TRUSTEES AND PROFESSIONAL ADVISERS
| Charity number | 1105142 |
|---|---|
| Settlors | Yvonne Jacques |
| Beryl Jones | |
| Trustees | Yvonne Marie Graham Jacques |
| Walter David Rothenberg | |
| Vivien Alison Drake | |
| Principal address | Carisbrooke |
| Carisbrooke Stud | |
| West Soley | |
| Chilton Foliat, Hungerford | |
| Berkshire | |
| RG17 0TN | |
| Accountants | Blick Rothenberg Limited |
| Chartered Accountants | |
| 16 Great Queen Street | |
| Covent Garden | |
| London | |
| WC2B 5AH | |
| Independent examiner | Jonathan Vickery BA FCA |
| Azets Audit Services Limited | |
| Ashcombe Court | |
| Woolsack Way | |
| Godalming | |
| GU7 1LQ | |
| Bankers | National Westminster Bank |
| Marlow Branch | |
| 7 High Street | |
| Marlow | |
| Bucks | |
| SL7 1BZ | |
| Solicitors | BDB Pitmans LLP |
| One Bartholomew Close | |
| London | |
| London | |
| EC1A 7BL |
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BEZVON CHARITABLE FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 13 JULY 2022
The Trustees present their report and financial statements of the Bezvon Charitable Foundation for the year ended 13 July 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note note,note01 to the financial statements and comply with the Charity's Deed dated 14 July 2004, the Charities Act 2011 and "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)". The previous accounting period was for the year ended 13 July 2021.
Reference and administrative information
Bezvon Charitable Foundation is registered as a Charity with the Charity Commission, registration number 1105142.
The Trustees in office during the year and at the date of this report, together with the address of the Charity's principal address and registered office, are set out on page 1.
Structure, governance and management
The Charity was created under a Deed dated 14 July 2004. The Charity was originally registered as Jacques Jones Charitable Trust. The name was changed to Bezvon Charitable Foundation under a resolution dated 15 September 2004.
Following the sad death of Beryl Margaret Jones, under the terms of the Deed dated 14 July 2004 the power to appoint new Trustees vests with Yvonne Marie Graham Jacques during her life and thereafter in the surviving or continuing Trustees subject to a minimum of three Trustees. In due course a new Trustee will be identified by the remaining Trustees and appointed under a Deed signed and approved by the current Trustees.
The current Trustees are responsible for the induction of any new Trustees which involves the awareness of a Trustee's responsibilities, the governing document, administrative procedures, and the history of the Charity. A new Trustee would receive copies of the previous year's annual report and accounts, a brief history of the Charity and a copy of the governing document. The pack will also include a copy of the Charity Commission guidance "Charity Trustee Welcome Pack" issued by the Charity Commission on 29 May 2018.
The Trustees examine the major risks that the Trustees faces every financial year and has developed systems to monitor and control these risks to mitigate any impact they may have on the Charity in the future.
The Trustees have systems in place to identify any conflicts of interest that may occur. When a conflict of interest arises, the relevant Trustee or Trustees agree to withdraw from any discussion and decision.
Objectives and activities for the benefit of the public
The Charity's objects are to apply the trust fund, together with the income therefore for the benefit of such one or more charitable purposes or institutions in any part of the world at such time or times in such manner and in such proportions as the Trustees may from time to time in their discretion determine.
In setting their objectives and grant making policy for the year, and in planning for the future, and with due regard to the published Charity Commission guidance on the operation of the Public Benefit requirement of the Charities Act 2011, the Trustees have undertaken appropriate activities in furtherance of those aims for the public benefit. The Charity has established its grant making policy to achieve its objects for the public benefit.
The Trustees received applications for donations from a wide variety of charitable institutions including education, helping the disabled and old aged, relieving poverty, providing sheltered accommodation, developing the arts etc. The Trustees, in considering their public benefit obligations, considered all requests which they received and made such donations as they felt appropriate.
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BEZVON CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 13 JULY 2022
Achievements and performance
In the year, nil (2021:1) charitable grants were made (2021: £5,000.00).
Financial review
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and meet their liabilities as they fall due. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
The net movement in funds for the year amounted to a surplus of £20,425.18 (2021: deficit £4,722.72). The unrestricted funds amounted to £32,890.15 (2021: £12,464.97) at the Balance Sheet date.
It is the policy of the Trustees to maintain a reserve of uncommitted and unrestricted cash funds of £5,000.
The Trustees have wide powers of investment under the terms of the Deed dated 14 July 2004.
Future developments
The Trustees intend to continue their policy of making grants to charitable institutions which fall within the objects of the Charity.
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 and 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 year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient 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 Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
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BEZVON CHARITABLE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 13 JULY 2022 Indep•ndgnt examln•r Jonathan Vickery BA FCAofAzets Audtt Servlces Llmited was 8pwJlnted a$ Ind8pend¢nt exomlnerto the Charfty and has exprawd hlg wllllrvjness trj conlinue In c¥aL#Iy. Yvonn• Marle Grah Tru8t•¢ Ja¢q Walt•r Oavld Roth•nb• Tw$tee Dated". 5 May..2023 15
BEZVON CHARITABLE FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BEZVON CHARITABLE FOUNDATION
I report to the Trustees on my examination of the financial statements of Bezvon Charitable Foundation (the Charity) for the year ended 13 July 2022 which are set out on pages 6 to 10.
Responsibilities and basis of report
As the Charity's Trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the 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:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Jonathan Vickery BA FCA
Azets Audit Services Limited
Ashcombe Court Woolsack Way Godalming GU7 1LQ Dated: .........................
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BEZVON CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 13 JULY 2022
| Notes Income from: Donations 2 Total Expenditure Charitable activities 3 Total Net income/(expenditure) Net movement in funds Reconciliation of funds Fund balances brought forward Fund balances carried forward |
Unrestricted fund 2022 2021 £ £ 25,048.68 2,528.33 25,048.68 2,528.33 (4,623.50) (7,251.05) (4,623.50) (7,251.05) 20,425.18 (4,722.72) 20,425.18 (4,722.72) 12,464.97 17,187.69 32,890.15 12,464.97 |
|---|---|
The notes on pages 8 to 10 form part of these financial statements.
Statement of recognised gains and losses
The statement of financials activities include all gains and losses recognised in the period. All of the activities of the Charity are classified as continuing.
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BEZVON CHARITABLE FOUNDATION BALANCE SHEET AS AT 13 JULY 2022 2022 2021 Curront •u¢ta Cash gt bank and In Ind 37,510.15 14.714.97 Cfodltorn: amounts f•llng du• wlthln one year (2.250.001 (4.620.1N)) 32.890.15 12,464.97 Net ¢urrent 8$9ets Total a•fj•ts1oM curwgnt Il•bllltt 31890.16 12,484.97 In¢on* fund• Unrestrfcted fvr 32.890.15 12.484.97 31890.16 12,484.97 e firnd41 5 May. 2023 nn• Marl• G Truslee Th• not•• on pg9•8 8 to 10 o111
BEZVON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 13 JULY 2022
1 Accounting policies
Charity information
Bezvon Charitable Foundation is an unincorporated trust. It's principal place of business is Carisbrooke, Carisbrooke Stud, Chilton Foliat, Hungerford, RG17 0TN.
1.1 Accounting convention
The financial statements have been prepared in accordance with 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) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following '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) Issued in October 2019 and rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Charity.
The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting preparing the Trustees.
1.3 Charitable funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated to applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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BEZVON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 13 JULY 2022
1 Accounting policies
(Continued)
1.6 Taxation The Bezvon Charitable Foundation is a registered Charity and is not liable to income or capital gains taxes on its present activities to the extent that the income and gains are applied for charitable purposes. 1.7 Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.
- 1.8 Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.
2 Donations and legacies
| Donations and gifts 3 Charitable activities Analysis of charitable activities Grants (3.1) Administrative costs (3.2) 3.1 Grants payable Grants during the year comprise: National Horseracing Museum |
Total 2022 £ 25,048.68 Total 2022 £ - 4,623.50 4,623.50 Total 2022 £ - |
Total 2021 £ 2,528.33 |
|---|---|---|
| Total 2021 £ 5,000.00 2,251.05 |
||
| 7,251.05 | ||
| Total 2021 £ 5,000.00 |
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BEZVON CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 13 JULY 2022
3 Charitable activities
(Continued)
3.2 Administrative costs
The breakdown of support costs and how these are allocated between Support and Charitable Activities is shown in the table below.
| Cost type Accountancy fees Bank charges and interest Independent examination fees |
Support costs Charitable activities 2022 2022 £ £ 2,520.00 - 3.50 2,100.00 4,623.50 - |
Total 2022 £ 2,520.00 3.50 2,100.00 4,623.50 |
Total 2021 £ 2,250.00 1.05 - |
|---|---|---|---|
| 2,251.05 |
4 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year or the previous year.
5 Employees
There were no employees during the year or the previous year.
6 Creditors: amounts falling due within one year
| Blick Rothenberg Limited Azets |
2022 £ 2,520.00 2,100.00 4,620.00 |
2021 £ 2,250.00 - |
|---|---|---|
| 2,250.00 |
7 Related party transactions
A donation of £20,000 (2021: £2,520) was made by one of the Trustees, Y M G Jacques, to the Charity.
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