Charity registration number 1106160
THE CARON KEATING FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
THE CARON KEATING FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Michael Don Keating |
|---|---|
| Gloria Hunniford | |
| Charity number | 1106160 |
| Principal address | PO Box 122 |
| Sevenoaks | |
| Kent | |
| TN13 1UB | |
| Independent examiner | Clarkson Hyde LLP |
| 3rd Floor | |
| Chancery House | |
| St Nicholas Way | |
| Sutton | |
| Surrey | |
| SM1 1JB | |
| Bankers | Handelsbanken |
| Sevenoaks Branch | |
| 1st Floor | |
| 50-52 London Rd | |
| Bligh's Meadow | |
| TN13 1AS |
THE CARON KEATING FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
THE CARON KEATING FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report and financial statements for the year ended 31 March 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, 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)” (as amended for accounting periods commencing from 1 January 2016).
Structure, governance and management
The Foundation was established by a charitable trust deed on 3 October 2004 in memory of the late Caron Keating who passed away after a 7 year battle with cancer on 13 April 2004. The family of Caron decided to set up a Foundation in her name with the view to help many different cancer charities all over the country, not just breast cancer charities, as Caron herself had wanted to reach out to other cancer sufferers and families.
This Foundation is a very important part of Gloria's healing and has greatly helped to turn a deep negative into positive action.
The Trustees who served during the year and who attended the Annual General Meeting held on 31 March 2021 were:
Michael Don Keating Gloria Hunniford
Also present were:
Stephen Way Paul Keating Dr Hilary Jones Charles Hunniford Wendy Bardell
The trustees consist of the family members of Caron, including her mother Gloria Hunniford (who is the Administrator) and her brother, Michael Keating, neither of whom receive remuneration.
The Foundation consists of two trustees, one part-time assistant, Wendy Bardell, who carries out secretarial and administration work, plus friends of the Foundation i.e. Caron's brother Paul, Gloria's husband Stephen Way, Charles Hunniford (Financial Adviser and IT consultant), and a medical consultant, Dr Hilary Jones.
Trustee meetings are held annually to analyse thoroughly the needs of those charities that apply for funding before any grant is considered. This enables the medical consultant and the trustees to have access to an extensive collection of requests from which to make the final choice. The Foundation finds that this system works well and gives the Foundation the ability to choose from a large range of different needs and areas of Britain. Requests arrive daily for grant consideration and Wendy our administrator puts those that qualify in geographical order so that they can be forwarded to our medical consultant who advises Gloria and the family on which charities he considers to be the worthiest.
Our aim is to assist all forms of cancer charities right across the country and in the last seventeen years we feel we have achieved this, with a wide geographical spread which we meticulously plan to reach as many parts of the country as possible, which is an aspect we are especially proud of.
The Trustees have assessed the major risks to which the charity may be exposed e.g. we do not give monies to individuals - only through registered charities, and are satisfied that systems are in place to mitigate exposure to the major risks.
At the time of paying out grants we doubly check the charities who are receiving funding that their initial request for financial assistance towards certain projects still applies.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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THE CARON KEATING FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Objectives and activities
The Foundation's objective is to raise money for cancer charities of all types to relieve those persons with cancer, their families and carers in order to "make a difference". This we do through registered charities. The overall aim of the Foundation is to offer financial support to cancer charities encompassing professional carers, complementary healing practitioners and support groups dealing with cancer patients, as well as individuals and families (through these charities) who are affected by the disease. It will also financially help a number of cancer charities with their ongoing quest for prevention, early detection and hopefully ultimate cure and the wellbeing of patients who are battling cancer. We meticulously choose charities where we feel we can make a difference. We check thoroughly the workings of the various charities and the content and purpose of the grant request so that we can achieve the best results through our fund raising.
As this is a purely family-run charity, the Foundation prefers to make a difference by giving grants to smaller charities who meet our preferred criteria. Our ideal is to avoid giving grants to charities, which aspire to raise millions of pounds each year. The Trustees and Friends of the Foundation accepted that the purposes of the Foundation had been strictly adhered to and were satisfied that we remained on course for a small family-run Foundation. The Trustees and Friends agreed that our target is to spread the Foundation's funds wisely in "small amounts", to as many cancer charities throughout the UK as possible, rather than giving considerable amounts to a limited few.
We feel very satisfied that, as a small family-run Foundation, we achieve much support all over the country, firstly in how the public have great empathy with how we analyse the needs of cancer charities and also how the "public" run events to raise money for the Foundation.
This financial year has once again been a very unusual one due to the Covid 19 pandemic and the various lockdowns.
We encountered the Coronavirus which first hit the UK in January 2020; this was followed by the lockdown which officially commenced on 23rd March 2020. This has had a huge impact on continuing work for the charity.
As I am sure you will understand for different charities all over the country it has been impossible to raise funds for the Foundation to assist cancer charities geographically.
Throughout the pandemic we have obviously been planning events for the future, but we felt that until we know the likely outcome of when things will return to normality it has not been possible to book venues in which to hold fundraising events.
Everyone within the Foundation hopes that the country will soon be free to pick up on normal life.
However, some individuals have been most kind and generous in donating various sums of money raised through local craft and card selling initiatives and though some sport.
The Foundation has also benefitted from exceptionally generous donations from:
Hardrock Worldwide December 2021 £26,000 Dennis Smith July 2021 £9,251 Dennis Smith November 2021 £15,000
These are much appreciated but obviously do not allow us to fund cancer charities in the way we would like to.
Due to these exceptional circumstances it was necessary for us to delay paying grants to cancer charities. However, it was decided that as we had not been able to pay out over the previous two years, funds did allow us to make some donations in Autumn 2021.
As a further consequence of the pandemic there have not been any events for Gloria to attend during this financial year.
As we have mentioned in previous minutes the Foundation has held back some money in the bank to cover unusual circumstances as we have just experienced or if Gloria as the administrator could not carry out her duties.
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THE CARON KEATING FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
Plans for the Future
We intend to continue in our endeavours to raise money and we truly appreciate all the effort other people make on our behalf and we feel we are steadily on course in our continued dedication to The Caron Keating Foundation and Caron’s memory.
In final analysis, we are very encouraged by the way the Foundation continued to progress. Our administration costs continue to be minimal and restricted to administrative work by Wendy Bardell and Charles Hunniford who looks after the website, financial spread sheets and banking, plus of course running costs in relation to events to present these occasions professionally which in turn raises money for the Foundation. The other costs involved annually are the accountancy fees for Clarkson Hyde LLP, our Accountants.
Financial review
During the year, the Foundation generated total incoming resources of £61,357 and the net fund balance at the year end was £398,543.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between six and twelve month’s expenditure and also allow continued support of our most worthwhile charities for the following year should Gloria, for whatever reason, be unable to attend or organise fund-raising events. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees' report was approved by the Board of Trustees.
Gloria Hunniford
Trustee Dated: 27 February 2023
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THE CARON KEATING FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE CARON KEATING FOUNDATION
I report to the Trustees on my examination of the financial statements of The Caron Keating Foundation (the charity) for the year ended 31 March 2022.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
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.
Andrew Seton (FCCA) Clarkson Hyde LLP
3rd Floor Chancery House St Nicholas Way Sutton Surrey SM1 1JB
Dated: 27 February 2023
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THE CARON KEATING FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted | Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2022 | 2021 | |||||
| Notes | £ | £ | ||||
| Income from: | ||||||
| Donations and legacies | 2 | 60,577 | 22,414 | |||
| Charitable activities | 3 | 305 | 125 | |||
| Investments | 4 | 475 | 1,404 | |||
| Total income | 61,357 | 23,943 | ||||
| Expenditure on: | ||||||
| Raising funds | 5 | 29 | 542 | |||
| Charitable activities | 6 | 157,169 | 11,356 | |||
| Total expenditure | 157,198 | 11,898 | ||||
| Net (expenditure)/income for the year/ | ||||||
| Net movement in funds | (95,841) | 12,045 | ||||
| Fund balances at 1 April 2021 | 494,384 | 482,339 | ||||
| Fund balances at 31 March 2022 | 398,543 | 494,384 |
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THE CARON KEATING FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2022
| Notes Fixed assets Tangible assets 10 Investments 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Unrestricted funds General unrestricted funds Revaluation reserve |
2022 £ 2,226 55 397,789 400,070 (10,156) 391,543 7,000 |
£ 629 8,000 8,629 389,914 398,543 398,543 398,543 |
2021 £ 2,204 55 490,211 492,470 (7,133) 487,384 7,000 |
£ 1,047 8,000 |
|---|---|---|---|---|
| 9,047 485,337 |
||||
| 494,384 | ||||
| 494,384 | ||||
| 494,384 |
The financial statements were approved by the Trustees on 27 February 2023
Gloria Hunniford
Trustee
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
Charity information
The Caron Keating Foundation is a an unincorporated registered charity in England and Wales. The registered address is 3rd Floor, Chancery House, St Nicholas Way, Sutton, Surrey, SM1 1JB.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
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 in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Voluntary income including donations and gifts in kind that provide core funding or are of general nature are recognised where this is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:
-
The donor specifies that the grant or donation must only be used in future accounting periods; or
-
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
Income from charitable activities includes the proceeds for the sale of goods.
1.5 Resources expended
Resources expended are included in the Statement of Financial Activities on an accrual basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised when a liability is incurred.
Cost of generating funds are those costs incurred in attracting voluntary income.
Resources expended on charitable activities include donations paid to the chosen charitable institutions and the costs of stock.
Support costs have all been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory accounts preparation and legal fees together with an apportionment of overhead and support costs.
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are stated at market value.
Changes in the value of the investments in the period, whether or not realised, are included under "Other recognised gains and losses" in the Statement of Financial Activities.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Stocks
Stock is valued at the lower of cost and net realisable value.
1.10 Cash and cash equivalents
Cash and cash equivalents include deposits held at call with banks.
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.12 Fund accounting All funds held by the Foundation are unrestricted general funds. These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
2 Donations and legacies
| 3 4 5 |
Unrestricted Unrestricted funds funds 2022 2021 £ £ Donations and gifts 60,577 22,414 Charitable activities 2022 2021 £ £ Activities for generating funds 305 125 Investments Unrestricted Unrestricted funds funds 2022 2021 £ £ Interest receivable 475 1,404 Raising funds 2022 2021 £ £ Fundraising and publicity Staging fundraising events 29 542 29 542 |
Unrestricted Unrestricted funds funds 2022 2021 £ £ Donations and gifts 60,577 22,414 Charitable activities 2022 2021 £ £ Activities for generating funds 305 125 Investments Unrestricted Unrestricted funds funds 2022 2021 £ £ Interest receivable 475 1,404 Raising funds 2022 2021 £ £ Fundraising and publicity Staging fundraising events 29 542 29 542 |
|---|---|---|
| 2021 £ 542 |
||
| 542 |
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
7 Charitable activities
| Donations | Donations | Donations | Donations | Charitable |
Charitable |
Charitable |
Charitable |
Charitable |
Total | Charitable | Charitable | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| payable | Expenditure | 2022 | Expenditure | ||||||||||||||
| 2022 | 2022 | 2021 | |||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Grant funding of activities (see note 7) | 141,732 | - | 141,732 | - | |||||||||||||
| Share of governance costs (see note 8) | - | 15,437 | 15,437 | 11,356 | |||||||||||||
| 141,732 | 15,437 | 157,169 | 11,356 | ||||||||||||||
| Grants payable | |||||||||||||||||
| 2021 | |||||||||||||||||
| 2022 | |||||||||||||||||
| £ | £ | ||||||||||||||||
| Grants to institutions: | |||||||||||||||||
| Other | 141,732 | - | |||||||||||||||
| - | |||||||||||||||||
| Support costs | |||||||||||||||||
| Support costs | Governance | 2022 | **2021 ** | Basis | of allocation | ||||||||||||
| costs | |||||||||||||||||
| £ | £ | £ | £ | ||||||||||||||
| Depreciation | - | 418 | 418 | 418 | |||||||||||||
| Repairs and renewals | - | - | - | 200 | Governance | ||||||||||||
| Accountancy | - | 3,007 | 3,007 | 3,641 | Governance | ||||||||||||
| Postage and stationery | - | 446 | 446 | 919 | Governance | ||||||||||||
| Travelling expenses | - | 4,516 | 4,516 | - | Governance | ||||||||||||
| Computer costs | - | 681 | 681 | 239 | Governance | ||||||||||||
| Bank charges | - | 221 | 221 | 229 | Governance | ||||||||||||
| Secretarial and | Governance | ||||||||||||||||
| administrative support | - | 6,148 | 6,148 | 5,710 | |||||||||||||
| - | 15,437 | 15,437 | 11,356 | ||||||||||||||
| Analysed between | |||||||||||||||||
| Charitable activities | - | 15,437 | 15,437 | 11,356 |
7 Grants payable
8 Support costs
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
| 10 | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures, fittings & equipment | |||
| £ | |||
| Cost | |||
| At 1 April 2021 | 6,721 | ||
| At 31 March 2022 | 6,721 | ||
| Depreciation and impairment | |||
| At 1 April 2021 | 5,674 | ||
| Depreciation charged in the year | 418 | ||
| At 31 March 2022 | 6,092 | ||
| Carrying amount | |||
| At 31 March 2022 | 629 | ||
| At 31 March 2021 | 1,047 | ||
| 11 | Fixed asset investments | ||
| Unlisted | |||
| investments | |||
| £ | |||
| Cost or valuation | |||
| At 1 April 2021 & 31 March 2022 | 8,000 | ||
| Carrying amount | |||
| At 31 March 2022 | 8,000 | ||
| At 31 March 2021 | 8,000 |
Fixed asset investments are stated at market value. Fixed asset investments represent 100,000 Ordinary Shares of 1p each gifted on 1st April 2005 by Eurovestech plc. The historical cost of this investment is £1,000.
12 Stocks
| 12 Stocks |
||
|---|---|---|
| Finished goods and goods for resale 13 Debtors Amounts falling due within one year: Other debtors |
2022 £ 2,226 2022 £ 55 |
2021 £ 2,204 |
| 2021 £ 55 |
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THE CARON KEATING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 10,156 | 7,133 |
15 Related party transactions
Charles Hunniford (the brother of one of the trustees, Gloria Hunniford) received £4,800 (2021 £4,800) during the year in respect of the IT services he provides and for the processing of the Foundation's donations. Gloria Hunniford was reimbursed £2,500 for travelling and other expenses incurred in the year.
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