| THE LORD BAMFORD FOUNDATION | ||||||||
|---|---|---|---|---|---|---|---|---|
| STATEMENT OF FINANCIAL ACTIVITIES | ||||||||
| FOR THE YEAR ENDED 31MARCH 2023 | ||||||||
| Unrestricted | Total | Total | ||||||
| Funds | Funds | Funds | ||||||
| 2023 | 2023 | 2022 | ||||||
| Note | 6 | 5 | F. | |||||
| INCOME | ||||||||
| Denalions | 300,000 | 300,000 | 300,000 | |||||
| Invesbnents | ||||||||
| Investment mccme |
27,748 | 27,748 | 15,237 | |||||
| Interest recervable | 1,425 | 1,425 | 31 | |||||
| TOTAL INCOME | 329,173 | 329,173 | 315,266 | |||||
| EXPENDITURE | ||||||||
| Coats of rsrarng flrndm |
||||||||
| Investment management |
coals | 25,995 | 25,995 | 19,212 | ||||
| Expsndrturs on chantable aliases |
||||||||
| Grants | 79,500 | 70,500 | I7,500 | |||||
| Governance rwsw |
6,679 | 6,679 | 7,102 | |||||
| Bank charges | 7 | 7 | ||||||
| TOTAL EXPENDITURE | 112,181 | 112,1!!1 | 43,814 | |||||
| NET INCOME AND NET |
MOVEMENT | IN | FUNDS | 216992 | 216,992 | 271,454 | ||
| BEFORE GAINS AND LOSSESON INVESTMENTS | ||||||||
| Net (losses))gains | on investmenls | (75,094) | (75,094) | 56,380 | ||||
| NET INCOME FOR THE YEAR | t41,ege | 141 898 | 327,834 | |||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought | forward | 2,026,841 | 2,026,841 | 1,699,007 | ||||
| Total funds carried | forward | 2,168,739 | 2,168,739 | 2,026,841 | ||||
| Afi the funds ofthe | chsnly ere unrestricted | funds |
| BALANCE SHEET | ||||||||
|---|---|---|---|---|---|---|---|---|
| FORTHE YEAR ENDED 31 MARCH | 2023 | |||||||
| 2023 | 2022 | |||||||
| Nots | 8 | |||||||
| FIXEDASSETS | ||||||||
| Invaslmenls | 1,901,293 | 1,954,516 | ||||||
| CURRENTASSETS | ||||||||
| Cash at bank | 215,750 | 04,904 | ||||||
| 215,750 | 04,904 | |||||||
| CREDITORS: Amounts | falling | |||||||
| due within one year | (13,304) | (12,5791 | ||||||
| NET CURRENT ASSETS | 202,446 | 72,325 | ||||||
| PROVISIONS FOR LIABILITES AND CHARGES | ||||||||
| Ottl8I' provlslolls | 10 | (15,000) | ||||||
| NET ASSETS | 2 160,739 | 2 | 020,041 | |||||
| The funds ofthe charity: | ||||||||
| Unrestncted innome funds |
2,168,739 | 2,026,041 | ||||||
| TOTALCHARITY FUNDS | 2,160739 | 2,026,041 | ||||||
| These F ncisl Statements |
were approved | by the | Trustees untie, ......,...h.'..,.,..,.,...,......, ,......,.t.......and amngned 2) rw)045)~Q Ir'I II |
on their behalf | by. | |||
| SER vena |
| 1. | ACCOUNTING POLICIES |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Basis ofAccounting | ||||||||||
| The accounts (financral slatements) have been prepared under the historic cost mnvenuon with items |
mmgnrsed at |
cast | or transaction | |||||||
| value unless otherwise stated in Ihe relevant notes lo the accounts The financial statements have been |
prepared in amordance |
with | lhe | |||||||
| Statement of Recommended Practice: Accounting and Reporting by Chan1ies preparing their accounts |
in acmrdance | with | Ihs | Financial | ||||||
| Reporhng Slandard applicable in Ihe UK and Republic of ireland (FRS 102)issued in October 2010 and |
Ihe Fmancial | Reporting | Standard | |||||||
| applicable rn the Untied Kingdom and Republic cfIreland (FRS 102)and the Charities Am 2011 |
||||||||||
| The accounts (financial statemenis) have been prepared lo give e 'lme and fair' view and have departed |
fram the Charities | (Accounts | and | |||||||
| Reports) Regulations 2005 only to the extent required te previde a 'true and fair view'. This departure has |
involved following |
Acceuntmg | and | |||||||
| Reporting by Charities: Statement ef Recommended Pmcbce applicable to charihes prepanng their |
accounts in accordance |
«sth | the | |||||||
| Financial Reporting Standard applicable rn the UK and Repubfic ofltuland (FRS 102)wsued in October 2019rather than |
the | Accountmg | and | |||||||
| Reporting by Charities: Statement ofRecemmended Practice effective from I April 2005 which hss sinm been withdrawn. |
||||||||||
| The trust mnstitutes e public benefit entity es defined by FRS 102. The frnanoel statemenls are prepared tn E sterling, |
the functional | |||||||||
| cunency ofthe chanty. | ||||||||||
| The Trustees consider Ihat there are no material uncertainties about the charity's ability to continue as a going concern. |
||||||||||
| Funds structure | ||||||||||
| The chantys irma pal source offunding is a donation from a Tmslee and is unrestricted. |
||||||||||
| Investments | ||||||||||
| Investments are a form of basic fmanoal rnstrumenl and are rnilragy recognised at their transaction value and subsequenfiy |
measured | at | ||||||||
| Iheir fair value as al the balance sheet date using Ihe closing quoted market once. The statement offinandel actrvihes includes |
the | net | gains | |||||||
| snd losses ansrng on ravel uauon and drsposale throughout the year. |
||||||||||
| Realised gains and losses | ||||||||||
| Ag gains and losses are taken tu the Statement of Financial Activlfiss as they arise. Rsabsed gains |
and lasses |
on mveshnents | are | |||||||
| calculated as the difference between sales pnceeds and their opening carrying value or their purchase value rf acqurrsd |
subsequent | to | the | |||||||
| frrsl day of Ihe financial year. Unrealised gains and losses are calculated ss the driference between the fair value at the |
year | end | and | their | ||||||
| carrying value. Realised and unmalrsed mvestment gains and losses are combined in the Statement of Financial Activihes. |
||||||||||
| Income | ||||||||||
| Afi income is recognised once Ihe chanty has enutlement to Ihe income, it is probable that the income will be received and |
the | amount | of | Ihe | ||||||
| i come receivable can bs measured refiably. |
||||||||||
| Donations are accounted for in Lhe period in which Ihe charity is enhtled to receipt. |
||||||||||
| Investment income is accounted for in the period in which the charily is entitled to receipt |
||||||||||
| Expenditure | ||||||||||
| Lrabrlrties sre recogmsed as expenditure as soon as there isa lrqtal or constructive obligation committing the shanty to that experldrmru, |
It re | |||||||||
| probable that setfiement will be required and Ihe amount ofths obligation csn be measured relrebly. |
||||||||||
| Expenditure rs acmunted for on an accruals basi~, wrlh donahons heing mcognrsed orrce approved by the Tnlstees. |
||||||||||
| Financial Instruments | ||||||||||
| The chanty only hes frnanmal assets and frnancisl lrsbilrtres of a krnd that quslrfy ss baste Iinsnqal rnstruments. Basic financia |
mstruments | |||||||||
| are initially recogmsed al transaction value and subsequently measured al their seltlemenl value |
||||||||||
| Short Term Debtors and Creditors | ||||||||||
| Deblore and oadrtors with no stated interest rate and receivable or payable within one year are recorded |
at transaction | pnce | Any losses | |||||||
| arising from impairmenl ars recognised in Ihe Statement ofFmanual Acfivrfies. |
||||||||||
| Long Term Debtors and Creditors | ||||||||||
| Debtors and creditors receivable or payable aller one year are rnihagy recorded at transaction price. At the |
end of Ihe reperting | period, | these | |||||||
| debtors and creditors are discounted to net pmsent value Any losses ansrng from impairment are recognised tn the Statement |
ot | Financial | ||||||||
| Activibes. | ||||||||||
| Foreign Currency | ||||||||||
| Transactions m foreign currencies are recorded at the exchange rate rufing at the date of Iransaction. |
Monetary assets |
and | Irabilities | |||||||
| denominated in foreign curn:noes sm retranslated at ths closmg rates at the balance sheet date Ag exchange differences |
ars mduded | ir | ||||||||
| the profrl and loss account. | ||||||||||
| STAFF COSTS ANO TRUSTEES REMUNERATION | ||||||||||
| There were no slaff costs incunud dumg the year and no remunerahon or expenses have bean paid to |
the Trustees rn |
ths | year. | Certain | ||||||
| employees ofJCSare used by the Foundation for management and administrative purposes for which no charge is made. |
| F | OR THE YEAR END | ED 31MARCH 2023 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3. | INVESTMENTINCOME | |||||||||||||
| Unrestricted | Unrestricted | |||||||||||||
| Funds | Furids | |||||||||||||
| 2023 | 2022 | |||||||||||||
| 6 | 2 | |||||||||||||
| UK | ||||||||||||||
| -Equities | 7,365 | 5.487 | ||||||||||||
| -Fixed inlerest | 3,487 | 2,940 | ||||||||||||
| -Other investmsnts | 5,266 | 2,209 | ||||||||||||
| Oversees | ||||||||||||||
| Equities | 10,260 | 4,521 | ||||||||||||
| Cash balances | ||||||||||||||
| .Iritsrsst | 1,370 | |||||||||||||
| 27,740 | 15,237 | |||||||||||||
| 4. | INTEREST RECEIVABLE | |||||||||||||
| Unrestricted | Unrestricted | |||||||||||||
| Fiirids | Funds | |||||||||||||
| 2023 | 2022 | |||||||||||||
| 0 | 2 | |||||||||||||
| Bank interest receivable | 1,425 | 31 | ||||||||||||
| 5. | ANALYSB OF | GRANTS | ||||||||||||
| Unresuicted | Unrestricted | |||||||||||||
| Funds | Funds | |||||||||||||
| 2023 | 2022 | |||||||||||||
| The following grants |
were made | in the year. | 6 | |||||||||||
| Four Shire Stone Restorason | Committee | 1,000 | ||||||||||||
| Stroke Assonauon | 25,000 | |||||||||||||
| Iniured Jockeys | 25,000 | |||||||||||||
| Feslival Medical | - James De | Jonge | 25,000 | |||||||||||
| Running for Hammie |
1,000 | |||||||||||||
| Hope forTomorrow | 2,500 | |||||||||||||
| The Queens Platmum | Jubilee | 17.500 | ||||||||||||
| 79,500 | 17,500 | |||||||||||||
| Grants are paid | in accordance | with Ihe | obiec6ves ofths charity | and are paid lo provide | either general | funding | or speuftc | funding | to the | |||||
| reupients. | ||||||||||||||
| Unrestricted | Unrestricted | |||||||||||||
| Funds | Funds | |||||||||||||
| 2023 | 2022 | |||||||||||||
| Reconcglatlon | ofgrants payable: | 2 | 8 | |||||||||||
| Commitments at I Apnl |
||||||||||||||
| Commitments made |
in ths year | 79,500 | 17,500 | |||||||||||
| Grants paid during lhe year | (64,500) | (17,500) | ||||||||||||
| Commitments at 31 March |
15000 | |||||||||||||
| Sss note 10for | details ofcommitments | at 31 | March 2023. | |||||||||||
| GOVERNANCE | COSTS | Unrestricted | Unrestricted | |||||||||||
| Funds | Furrils | |||||||||||||
| 2023 | 2022 | |||||||||||||
| 0 | 6 | |||||||||||||
| Accountancy fees |
2,653 | 2,822 | ||||||||||||
| Audit fees - The | audit | of Ihe Charity's | annual | accounts | 4,026 | 4,280 | ||||||||
| 6,679 | 7,102 |
| 7. | NET GAINS l(L | OSSE | S) ON INVES | TMENTS | ||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| 0 | 0 | |||||||
| Realised gain(goes) on investmenl assets |
(40,077) | (10,005) | ||||||
| Unrealised gam/goes) |
on investment | assets | (26,017) | 66,385 | ||||
| (75,094) | 56,300 | |||||||
| 0. | INVESTMENTS | |||||||
| Movement in market value |
||||||||
| 2023 | 2022 | |||||||
| E | 0 | |||||||
| Market value at | I Apnl | 1,954,516 | 1,35D.332 | |||||
| Acquisitions al cost |
767,373 | 635,011 | ||||||
| Sales proceeds | (537,530) | (351,523) | ||||||
| Nst goes)rgams | on revaluations | (75,094) | 56,380 | |||||
| Nsl movement in liquid |
assets and dsposts | (127,964) | 264,316 | |||||
| Madiet value al | 31 March | 1,901,293 | 1,954,516 | |||||
| Historical cast at 31 March | 1,842,296 | 1,743,797 | ||||||
| The inveslments | ere analysed as: | |||||||
| 2023 | 2022 | |||||||
| 0 | 0 | |||||||
| UK | ||||||||
| - Equities | 175,225 | 163,970 | ||||||
| - Fixed nleresl | 417,657 | 290,076 | ||||||
| - Other mvestmenls | 216,971 | 203,644 | ||||||
| 809,853 | 738,400 | |||||||
| Oversees | ||||||||
| - Equities | 004,250 | 741,739 | ||||||
| -Other mvestments | 113,072 | 93,005 | ||||||
| 918,122 | 834,744 | |||||||
| Cash balances | 253,310 | 381,282 | ||||||
| 1,081,203 | 1,954,510 | |||||||
| 9. | CREOITORM Amounts | faDlng due | within one | year | ||||
| 2023 | 2022 | |||||||
| 0 | 0 | |||||||
| Other creditors | 6,625 | 0,507 | ||||||
| Accruals | 6,679 | 6,072 | ||||||
| 13,304 | 12,579 | |||||||
| 10. | OTHER PROVISIDNS | |||||||
| Note | 2023 | 2022 | ||||||
| 8 | 0 | |||||||
| Charitable commitments |
15000 | |||||||
| The Foundation | has agreed to make | the following | chantable | donabans | ||||
| Year endmg 31 | March 2023 | 15000 | ||||||
| 15,000 |