15 years of Grant Giving
The BOSHIER-HINTON Foundation
A GRANT MAKING TRUST Whitegates, 32 Lower Street, Horning, Norfolk, NR12 8AA Tel: 01692 630695 Email: boshierhinton@yahoo.co.uk www.boshierhintonfoundation.org.uk
TRUSTEES’ ANNUAL REPORT for the period 1/4/2020 to 31/3/2021
| Registered Charity Number |
1108886 |
|---|---|
| Operating address | Whitegates, 32 Lower Street, HORNING, Norfolk, NR12 8AA |
| Objects and Purposes | To improve the quality of life for people with disabilities or learning difficulties, and their families, in any part of the country by making donations to institutions who provide facilities and advocacy for children and adults with special educational or other needs; by making donations to other registered charities; by making donations to local community charities; by making donations to other agencies whose objects are no wider than the Foundation’s own, or to any charity for purposes which fall within the Foundation’s objects. |
| Structure, Governance and Management |
The Foundation is governed by a Trust Deed, made on 9 March 2005, and is managed by a Board of volunteer trustees. |
| Trustee selection and appointment |
Trustees, other than the two Founding Trustees, are elected for periods of three years. Selection is based on experience of learning, special needs or business management. |
| Wider network relationships |
The Foundation’s trustees maintain close links with many other charities, making visits whenever possible. Trustees have initiated links between other charities when applications indicate that liaison between two or more charities would be mutually beneficial, either for the purpose of purchasing appropriate equipment or learning from experience. |
| Policy on grant- making |
The Foundation makes grants to other registered charities, schools and CICs that work on behalf of adults or children with special needs, learning difficulties, physical disability, or sensory impairment. Trustees make difficult decisions regarding what can and cannot be funded. These lists are updated regularly in the light of available funds and changes to public-funded grants. |
| Public benefit | Trustees have regard to the Charity Commission’s guidance on public benefit requirements, and endeavour to work within the spirit and specifics of those requirements. In addition to making grants and pledges to a wide range of charities, trustees visit applying charities whenever possible, and offer advice and support on occasions. In these ways we can judge the extent to which our work is for wider public benefit. |
|---|---|
| Trustees | Our volunteer trustees between them have wide experience in the areas of educational and other needs, disability, learning difficulties, sensory impairment or business and financial management. |
| Main activities | Charities applying to us complete a Grant Application form, and submit both a hard and an electronic copy, together with a copy of their latest accounts and any other supporting information. Our ‘Notes for Applicants’ that accompany the grant application form provide guidance on what we look for in an application and provide helpful examples why an application may be unsuccessful. All applications are carefully considered. Awards are not made in every case. Trustees look for evidence of financial sustainability and how an applicant is approaching their fund-raising activities. As well as awarding grants we also make pledges towards an applicant’s declared fund-raising target. A pledge is valid for six months and is fulfilled by a grant when the Foundation is informed that an applicant’s fund-raising target has been achieved within six months of our pledge being made. We also occasionally offer to match-fund specified amounts towards an applicant’s declared fund-raising target. As a rule, we do not fund salaries or capital projects and principally our grants fund services or equipment. |
| Contribution made by volunteers |
We have no paid staff. Our trustees are volunteers and are fully involved in the operation of our charity. Two additional volunteers provide assistance to the Secretary/Treasurer in general administrative processes and in maintaining our records and website. |
| Sources of funds and financial management |
The Foundation’s sources of income include grants and legacies, and dividends from shares. Funds are spread across several accounts to maximise interest and to protect investments. Day-to-day financial management is undertaken by the Secretary/Treasurer, who reports to the Board of Trustees. Accounts are independently audited annually, as required by the Charity Commission, to whom a copy is sent. |
| Reserves policy | Trustees ensure that sufficient cash reserves are maintained to continue the charity’s operations at current levels in future years, to meet commitments of pledges made, and to maintain sufficient levels of available funds to meet any agreed changes to our grant-making policy. We have begun to sell some shares in order to reduce the level of assets retained by the charity, and to increase available funds for grant-giving. |
| Financial risks | Any potential financial risks are minimised by spreading funds across several accounts and by closely monitoring our grant-making policy and actual expenditure. A report is made to each Board meeting of |
| current balances in all accounts, and the value of pledges made. At Board meetings all aspects of the charity’s operation are reviewed; financial management is re-assessed regularly. |
|
|---|---|
| General risk assessment |
In addition to financial risk assessment, trustees consider at Board meetings how the charity functions to minimise any possible risks to the overall operation of the Foundation. |
| Achievements during the year |
Trustees awarded 64 grants during the 2020/2021 year totalling £206,134.00 58 pledges were made totalling £100,482.00, many of which have now been paid. To mark our 15th anniversary, grants of up to £15,000.00 were awarded to nine charities. |
| Achievement and performance |
The Foundation has been making grants for fifteen years and during that period trustees have awarded grants totalling over £4 million. Currently, trustees consider approximately 40 applications each month. |
| Achievement against objectives |
Trustees continue each year to meet our objectives by making many grants across a wide range of need. Grants awarded over the years encompass a range of equipment and services to meet an increasingly wide range of need by applicants. |
| Plans for the future | Recent meetings of trustees considered the future of the charity. One trustee retired in 2020, and discussions are in hand to appoint one or two new trustees. In addition to continuing our work on similar lines, trustees are considering for how many years the charity may continue. |
| Signed on behalf of the charity’s trustees | Signed on behalf of the charity’s trustees | |
|---|---|---|
| Signature | Peter Boshier | Thea Boshier |
| Full name | Peter James Boshier | Thea Boshier |
| Position | Secretary/Treasurer | Chairman |
| Date | 2.9.21 | 2.9.21 |
CHARITY REGISTRATION NUMBER: 1108886
The Boshier-Hinton Foundation Unaudited financial statements
31 March 2021
The Boshier-Hinton Foundation
Financial statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
The Boshier-Hinton Foundation
Trustees' annual report
Year ended 31 March 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in notes 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 published in October 2019.
Reference and administrative details
Registered charity name The Boshier-Hinton Foundation Charity registration number 1108886 Principal office Whitegates 32 Lower Street Horning Norfolk NR12 8AA
The trustees
The trustees who served during the year and at the date of approval were as follows:
Dr P Boshier Mrs T Boshier Mrs J Beal (resigned 24 August 2020) Mr C Flint Mrs S McEwen (appointed 11 June 2021) Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
- 1 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
The Charity Bank Limited Fosse House 182 High Street Tonbridge TN9 1BE Barclays Bank 5/7 Red Lion Street Norwich NR1 3QH Saffron Building Society 1A Market Street Saffron Walden CB10 1HX
- 2 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Objectives and activities
The Foundation's Objects are to improve the quality of life for people with disabilities or learning difficulties, and their families, in any part of the country by:
-
making donations to institutions who provide facilities and advocacy for children and adults with special educational or other needs;
-
making donations to other registered charities;
-
making donations to local community charities and;
-
making donations to other agencies whose objects are no wider than the Foundation's own, or to any charity for purposes which fall within the Foundation's objects.
Significant activities
Charities applying to us complete a Grant Application form, and submit both a hard and an electronic copy, together with a copy of their latest accounts and any other supporting information. Our 'Notes for Applicants' that accompany the grant application form provide guidance on what we look for in an application and provide helpful examples why an application may be unsuccessful.
All applications are carefully considered. Awards are not made in every case. Trustees look for evidence of financial sustainability and how an applicant is approaching their fund-raising activities.
As well as awarding grants we also make pledges towards an applicant's declared fund-raising target. A pledge is valid for six months and is fulfilled by a grant when the Foundation is informed that an applicant's fund-raising target has been achieved within six months of our pledge being made.
We also occasionally offer to match-fund specified amounts towards an applicant's declared fund-raising target.
As a rule, we do not fund salaries or capital projects and principally our grants fund services or equipment.
Grant-making policy
The Foundation makes grants to other registered charities, schools and CICs that work on behalf of adults or children with special needs, learning difficulties, physical disability or sensory impairment. Trustees make difficult decisions regarding what can and cannot be funded. These lists are updated regularly in the light of available funds and changes to public-funded grants.
Public benefit
Trustees have regard to the Charity Commission's guidance on public benefit requirements, and endeavour to work within the spirit and specifics of those requirements. In addition to making grants and pledges to a wide range of charities, trustees visit applying charities whenever possible, and offer advice and support on occasions. In these ways we can judge the extent to which our work is for wider public benefit.
- 3 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Achievements and performance
Trustees awarded 64 grants during the 2020/2021 year totalling £207,634, less one grant repaid totalling £1,000 and one grant written off totalling £500 (2020: 165 grants totalling £243,078, less three grants repaid totalling £5,500).
58 pledges were made totalling £100,482, many of which have now been paid.
To mark our 15th anniversary, grants of up to £15,000 were awarded to nine charities.
The Foundation has been making grants for fifteen years and during that period trustees have awarded grants totalling over £4 million. Currently, trustees consider approximately 40 applications each month.
Trustees continue each year to meet our objectives by making many grants across a wide range of need. Grants awarded over the years encompass a wide range of equipment and services to meet an increasingly wide range of need.
Financial review
Unrestricted fund income totalled £114,805 (2020: £232,720). After making grants totalling £206,134 (2020: £238,578), incurring administration costs of £3,128 (2020: £4,545), and investment gains of £280,098 (2020: investment losses of £88,161) net income for the year amounted to £185,641 (2020: net expenditure of £98,564).
Principal funding sources
The Foundation's sources of income include grants and legacies, and dividends from shares. Funds are spread across several accounts to maximise interest and to protect investments. Day-to-day financial management is undertaken by the Secretary/Treasurer, who reports to the Board of Trustees. Accounts are independently examined annually, as required by the Charity Commission, to whom a copy is sent.
Reserves policy
Trustees ensure that sufficient cash reserves are maintained to continue the charity's operations at current levels in future years, to meet commitments of pledges made, and to maintain sufficient levels of available funds to meet any agreed changes to our grant-making policy.
At the period end, the charity had free reserves of £154,174 (2020: £248,631).
Plans for future periods
Recent meetings of trustees considered the future of the charity. One trustee retired in 2020, and discussions are in hand to appoint one or two new trustees. In addition to continuing our work on similar lines, trustees are considering for how many years the charity may continue.
- 4 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Structure, governance and management
Governing document
The Foundation is governed by a Trust Deed, made on 9 March 2005, and is managed by a Board of volunteer trustees.
Recruitment and appointment of new trustees
Trustees, other than the two Founding Trustees, are elected for periods of three years. Selection is based on experience of learning, special needs or business management.
Trustees
Our volunteer trustees between them have wide experience in the areas of educational and other needs, disability, learning difficulties, sensory impairment or business management.
We have no paid staff. Our trustees are volunteers and are fully involved in the operation of our charity. Two additional volunteers provide assistance to the Secretary/Treasurer in general administrative processes and in maintaining our records and website.
Risk management
Any potential financial risks are minimised by spreading funds across several accounts and by closely monitoring our grant-making policy and actual expenditure. A report is made to each Board meeting of current balances in all accounts, and the value of pledges made. At Board meetings all aspects of the charity's operation are reviewed; financial management is re-assessed regularly.
In addition to financial risk assessment, trustees consider at Board meetings how the charity functions to minimise any possible risks to the overall operation of the Foundation.
Wider network relationships
The Foundation's trustees maintain close links with many other charities, making visits whenever possible. Trustees have initiated links between other charities when applications indicate that liaison between two or more charities would be mutually beneficial, either for the purpose of purchasing appropriate equipment or learning from experience. In this respect, donations are received from The Medlock Charitable Trust and The Coles-Medlock Foundation Charitable Trust, charities of which Mr D J Medlock, the brother of Mrs T Boshier, is a trustee.
True and Fair override
The accounts (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 by 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 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn
Independent examiner
M Proctor FCA DChA has been re-appointed as independent examiner for the ensuing year.
- 5 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
The trustees' annual report was approved on 23 August 2021 and signed on behalf of the board of trustees by:
Dr P Boshier Trustee
- 6 -
The Boshier-Hinton Foundation
Independent examiner's report to the trustees of The Boshier-Hinton Foundation
Year ended 31 March 2021
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 March 2021 which comprise the statement of financial activities, statement of financial position and the related notes.
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
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.
- 7 -
The Boshier-Hinton Foundation
Independent examiner's report to the trustees of The Boshier-Hinton
Foundation (continued)
Year ended 31 March 2021
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 accounts to be reached.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) 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) 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 since been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
26 August 2021
- 8 -
The Boshier-Hinton Foundation
Statement of financial activities
Year ended 31 March 2021
| 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total funds | Total funds | |||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Donations and legacies | 4 | 82,500 | 82,500 | 180,864 | |
| Investment income | 5 | 32,305 | 32,305 | 51,856 | |
|
|
|
|||
| Total income | 114,805 | 114,805 | 232,720 | ||
|
|
|
|||
| Expenditure | |||||
| Charitable activities | 6 | (209,262) | (209,262) | (243,123) | |
|
|
|
|||
| Total expenditure | (209,262) | (209,262) | (243,123) | ||
|
|
|
|||
| Net income/(expenditure) and net movements in funds | |||||
| before gains and losses on investments | (94,457) | (94,457) | (10,403) | ||
| Net gains/(losses) on investments | 7 | 280,098 | 280,098 | (88,161) | |
|
|
|
|||
| Net income/(expenditure) and net movement in funds | 185,641 | 185,641 | (98,564) | ||
|
|
|
|||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,062,262 | 1,062,262 | 1,160,826 | ||
|
|
|
|||
| Total funds carried forward | 1,247,903 | 1,247,903 | 1,062,262 | ||
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 17 form part of these financial statements.
- 9 -
The Boshier-Hinton Foundation
Statement of financial position
31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investments | 11 | 1,093,729 | 813,631 | ||
| Current assets | |||||
| Debtors | 12 | 2,557 | 14,757 | ||
| Cash at bank and in hand | 152,871 | 234,874 | |||
|
|
||||
| 155,428 | 249,631 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 13 | (1,254) | (1,000) | ||
|
|
||||
| Net current assets | 154,174 | 248,631 | |||
|
|
||||
| Total assets less current liabilities | 1,247,903 | 1,062,262 | |||
|
|
||||
| Net assets | 1,247,903 | 1,062,262 | |||
|
|
||||
| Funds of the charity | |||||
| Unrestricted funds | 1,247,903 | 1,062,262 | |||
|
|
||||
| Total charity funds | 14 | 1,247,903 | 1,062,262 | ||
|
|
These financial statements were approved by the board of trustees and authorised for issue on 23 August 2021, and are signed on behalf of the board by:
Dr P Boshier Trustee
Mrs T Boshier Trustee
The notes on pages 11 to 17 form part of these financial statements.
- 10 -
The Boshier-Hinton Foundation
Notes to the financial statements
Year ended 31 March 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Whitegates, 32 Lower Street, Horning, Norfolk, NR12 8AA.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
The Trustees have considered the impact of Covid-19 in making this asssesment
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
Income received by way of donations, legacies, grants and gifts is included in full in the Statement of Financial Activities when receivable.
-
Investment income is included when receivable.
- 11 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Grants payable are payments made to third parties in the furtherance of charitable objectives of the charity. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash at bank
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less.
Taxation
The charity is exempt from tax on its charitable activities.
- 12 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 80,000 | 80,000 | 180,807 | 180,807 | |
| Gift aid | 2,500 | 2,500 | 57 | 57 | |
|
|
|
|
||
| 82,500 | 82,500 | 180,864 | 180,864 | ||
|
|
|
|
||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Dividend income | 32,480 | 32,480 | 51,507 | 51,507 | |
| Interest receivable | (175) | (175) | 349 | 349 | |
|
|
|
|
||
| 32,305 | 32,305 | 51,856 | 51,856 | ||
|
|
|
|
||
| 6. | Expenditure on charitable activities by activity type | ||||
| Grant funding | Total funds | Total fund | |||
| of activities | Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Grants (note 16) | 206,134 | – | 206,134 | 238,578 | |
| IT | – | – | – | 82 | |
| Travel and subsistence | – | 269 | 269 | 695 | |
| Printing, postage and stationery | – | – | – | 2,347 | |
| Bank charges | – | 182 | 182 | 205 | |
| Discounts | – | – | – | 156 | |
| Administration | – | 1,325 | 1,325 | – | |
| Sundry | – | 90 | 90 | – | |
| Governance costs | – | 1,262 | 1,262 | 1,060 | |
|
|
|
|
||
| 206,134 | 3,128 | 209,262 | 243,123 | ||
|
|
|
|
||
| Analysis of governance costs: | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accountancy fees | 1,262 | 1,060 | |||
|
|
||||
| Total | 1,262 | 1,060 | |||
|
|
||||
| 7. | Net gains/(losses) on investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on listed investments | 280,098 |
280,098 |
(88,161) |
(88,161) |
- 13 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
8. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,254 |
1,008 |
9. Staff costs
No salaries or wages have been paid to employees, including the trustees, during the year.
10. Trustee remuneration and expenses
No trustees' received remuneration or any other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
Expenses incurred by the trustees have been incurred wholly on behalf of the Foundation in the normal course of its activities. During the year, three Trustees were reimbursed for travel and administration expenses totalling £1,730 (2020: two trustees £695).
11. Investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 April 2020 | 813,631 |
| Additions | – |
| Other movements | 280,098 |
|
|
| At 31 March 2021 | 1,093,729 |
|
|
| Impairment | |
| At 1 April 2020 and 31 March 2021 | |
| Carrying amount | |
| At 31 March 2021 | 1,093,729 |
|
|
| At 31 March 2020 | 813,631 |
|
All investments shown above are held at valuation.
Financial assets held at fair value
The fair value of listed investments is determined by reference to the quoted price for these assets in an active market at the balance sheet date.
12. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 2,557 | 14,757 |
|
|
- 14 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
13. Creditors: Amounts falling due within one year
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Accruals and deferred income | 1,254 | 1,000 | ||||
|
|
|||||
| Analysis of charitable funds | ||||||
| Unrestricted funds | ||||||
| At | ||||||
| Gains and | 31 March 202 | |||||
| At 1 | April 2020 | Income | Expenditure | losses | 1 | |
| £ | £ | £ | £ | £ | ||
| General funds | 1,062,262 | 114,805 | (209,262) | 280,098 | 1,247,903 | |
|
|
|
|
|
||
| Gains and | At | |||||
| At 1 | April 2019 | Income | Expenditure | losses | 31 March 2020 | |
| £ | £ | £ | £ | £ | ||
| General funds | 1,160,826 | 232,720 | (243,123) | (88,161) | 1,062,262 | |
|
|
|
|
|
||
| Analysis of net assets between funds | ||||||
| Unrestricted | Total Funds | |||||
| Funds | 2021 | |||||
| £ | £ | |||||
| Investments | 1,093,729 | 1,093,729 | ||||
| Current assets | 155,428 | 155,428 | ||||
| Creditors less than 1 year | (1,254) | (1,254) | ||||
|
|
|||||
| Net assets | 1,247,903 | 1,247,903 | ||||
|
|
|||||
| Unrestricted | Total Funds | |||||
| Funds | 2020 | |||||
| £ | £ | |||||
| Investments | 813,631 | 813,631 | ||||
| Current assets | 249,631 | 249,631 | ||||
| Creditors less than 1 year | (1,000) | (1,000) | ||||
|
|
|||||
| Net assets | 1,062,262 | 1,062,262 | ||||
|
|
14. Analysis of charitable funds
15. Analysis of net assets between funds
- 15 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
16. Grants
| 2021 | |
|---|---|
| £ | |
| Animal Antiks | 1,000 |
| Ashton School Fund | 2,000 |
| Autistic Soc. Gr. Manchester | 1,000 |
| BSL Community | 1,500 |
| BOSP | 1,500 |
| Back Up | 11,050 |
| Beacon Vision | 2,500 |
| Bolton Deaf Society | 2,000 |
| British Paralympic Association | 15,000 |
| Canine Partners for Independence | 1,400 |
| Carrfield Primary Academy | 2,000 |
| Cerebral Palsy Scotland | 1,676 |
| Cherry Trees | 1,274 |
| CHIPS | 1,500 |
| Crossroads | 2,000 |
| Deaf Academy | 35,845 |
| Dingley Family & Specialist Early Years Centre | 1,047 |
| Diverse Abilities Plus | 2,500 |
| Douglas Bader Foundation | 2,000 |
| Down's Sydrome Devel. Trust | 1,000 |
| Edinburgh Science | (1,000) |
| Friends of Victoria School | 1,000 |
| John Fielding Special School | 2,000 |
| Head2Head Sensory Theatre | 750 |
| Living Options Devon | 1,950 |
| Multiple System Atrophy Trust | 1,000 |
| North East Sensory Services | 1,900 |
| North Tyneside Disability Forum | 900 |
| Oakwell Rise Primary School f Barnsley | 500 |
| Open Door Centre (Swindon & District) | 1,474 |
| Open Up Music | 15,000 |
| Perkisound CIO | 2,000 |
| Portesbery Partnerships | 2,000 |
| Reuben's Retreat | 1,755 |
| Royal Hospital for Neuro-dis. | 1,000 |
| Royal Philharmonic Orchestra | 2,000 |
| Royal Scottish National Orchestra | 1,000 |
| SASBAH | 1,500 |
| SELFA | 2,370 |
| SENSE | 15,000 |
| SSAFA | 1,000 |
| St Mary’s College Sports Dev. | 2,000 |
| Sandwell Youth in Action | 1,000 |
| Sight Support Derbyshire | 1,180 |
| Snowdon Trust | 15,000 |
| Soundabout | 2,000 |
| Special Effect | 5,000 |
| Spina Bifida Hydrocep | 1,000 |
| Sporting Challenge | 900 |
| Stanley Grange Com. Assoc. | 2,000 |
| Step By Step London | 1,536 |
| Stick 'n Step | 500 |
| Tall Ships Youth Trust | 1,500 |
- 16 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
Grants (continued)
| 2021 | |
|---|---|
| £ | |
| Teesside Ability Support Centre | 1,280 |
| Three Ways School | 1,855 |
| Tourettes Action | 848 |
| Treloar Trust | 2,000 |
| Walkabout Foundation | 500 |
| Walsall Society for the Blind | 1,144 |
| Walton Leigh Schools PTA | 2,000 |
| Welsh National Opera | 1,500 |
| Whizz Kidz | 15,000 |
| Young Vic | 2,000 |
| Unpresented cheque written back | (500) |
|
|
| 206,134 | |
|
17. Related parties
Donations received from related parties without conditions totalled £80,000 (2020: £180,000).
- 17 -
CHARITY REGISTRATION NUMBER: 1108886
The Boshier-Hinton Foundation Unaudited financial statements
31 March 2021
The Boshier-Hinton Foundation
Financial statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
The Boshier-Hinton Foundation
Trustees' annual report
Year ended 31 March 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in notes 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 published in October 2019.
Reference and administrative details
Registered charity name The Boshier-Hinton Foundation Charity registration number 1108886 Principal office Whitegates 32 Lower Street Horning Norfolk NR12 8AA
The trustees
The trustees who served during the year and at the date of approval were as follows:
Dr P Boshier Mrs T Boshier Mrs J Beal (resigned 24 August 2020) Mr C Flint Mrs S McEwen (appointed 11 June 2021) Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
- 1 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
The Charity Bank Limited Fosse House 182 High Street Tonbridge TN9 1BE Barclays Bank 5/7 Red Lion Street Norwich NR1 3QH Saffron Building Society 1A Market Street Saffron Walden CB10 1HX
- 2 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Objectives and activities
The Foundation's Objects are to improve the quality of life for people with disabilities or learning difficulties, and their families, in any part of the country by:
-
making donations to institutions who provide facilities and advocacy for children and adults with special educational or other needs;
-
making donations to other registered charities;
-
making donations to local community charities and;
-
making donations to other agencies whose objects are no wider than the Foundation's own, or to any charity for purposes which fall within the Foundation's objects.
Significant activities
Charities applying to us complete a Grant Application form, and submit both a hard and an electronic copy, together with a copy of their latest accounts and any other supporting information. Our 'Notes for Applicants' that accompany the grant application form provide guidance on what we look for in an application and provide helpful examples why an application may be unsuccessful.
All applications are carefully considered. Awards are not made in every case. Trustees look for evidence of financial sustainability and how an applicant is approaching their fund-raising activities.
As well as awarding grants we also make pledges towards an applicant's declared fund-raising target. A pledge is valid for six months and is fulfilled by a grant when the Foundation is informed that an applicant's fund-raising target has been achieved within six months of our pledge being made.
We also occasionally offer to match-fund specified amounts towards an applicant's declared fund-raising target.
As a rule, we do not fund salaries or capital projects and principally our grants fund services or equipment.
Grant-making policy
The Foundation makes grants to other registered charities, schools and CICs that work on behalf of adults or children with special needs, learning difficulties, physical disability or sensory impairment. Trustees make difficult decisions regarding what can and cannot be funded. These lists are updated regularly in the light of available funds and changes to public-funded grants.
Public benefit
Trustees have regard to the Charity Commission's guidance on public benefit requirements, and endeavour to work within the spirit and specifics of those requirements. In addition to making grants and pledges to a wide range of charities, trustees visit applying charities whenever possible, and offer advice and support on occasions. In these ways we can judge the extent to which our work is for wider public benefit.
- 3 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Achievements and performance
Trustees awarded 64 grants during the 2020/2021 year totalling £207,634, less one grant repaid totalling £1,000 and one grant written off totalling £500 (2020: 165 grants totalling £243,078, less three grants repaid totalling £5,500).
58 pledges were made totalling £100,482, many of which have now been paid.
To mark our 15th anniversary, grants of up to £15,000 were awarded to nine charities.
The Foundation has been making grants for fifteen years and during that period trustees have awarded grants totalling over £4 million. Currently, trustees consider approximately 40 applications each month.
Trustees continue each year to meet our objectives by making many grants across a wide range of need. Grants awarded over the years encompass a wide range of equipment and services to meet an increasingly wide range of need.
Financial review
Unrestricted fund income totalled £114,805 (2020: £232,720). After making grants totalling £206,134 (2020: £238,578), incurring administration costs of £3,128 (2020: £4,545), and investment gains of £280,098 (2020: investment losses of £88,161) net income for the year amounted to £185,641 (2020: net expenditure of £98,564).
Principal funding sources
The Foundation's sources of income include grants and legacies, and dividends from shares. Funds are spread across several accounts to maximise interest and to protect investments. Day-to-day financial management is undertaken by the Secretary/Treasurer, who reports to the Board of Trustees. Accounts are independently examined annually, as required by the Charity Commission, to whom a copy is sent.
Reserves policy
Trustees ensure that sufficient cash reserves are maintained to continue the charity's operations at current levels in future years, to meet commitments of pledges made, and to maintain sufficient levels of available funds to meet any agreed changes to our grant-making policy.
At the period end, the charity had free reserves of £154,174 (2020: £248,631).
Plans for future periods
Recent meetings of trustees considered the future of the charity. One trustee retired in 2020, and discussions are in hand to appoint one or two new trustees. In addition to continuing our work on similar lines, trustees are considering for how many years the charity may continue.
- 4 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
Structure, governance and management
Governing document
The Foundation is governed by a Trust Deed, made on 9 March 2005, and is managed by a Board of volunteer trustees.
Recruitment and appointment of new trustees
Trustees, other than the two Founding Trustees, are elected for periods of three years. Selection is based on experience of learning, special needs or business management.
Trustees
Our volunteer trustees between them have wide experience in the areas of educational and other needs, disability, learning difficulties, sensory impairment or business management.
We have no paid staff. Our trustees are volunteers and are fully involved in the operation of our charity. Two additional volunteers provide assistance to the Secretary/Treasurer in general administrative processes and in maintaining our records and website.
Risk management
Any potential financial risks are minimised by spreading funds across several accounts and by closely monitoring our grant-making policy and actual expenditure. A report is made to each Board meeting of current balances in all accounts, and the value of pledges made. At Board meetings all aspects of the charity's operation are reviewed; financial management is re-assessed regularly.
In addition to financial risk assessment, trustees consider at Board meetings how the charity functions to minimise any possible risks to the overall operation of the Foundation.
Wider network relationships
The Foundation's trustees maintain close links with many other charities, making visits whenever possible. Trustees have initiated links between other charities when applications indicate that liaison between two or more charities would be mutually beneficial, either for the purpose of purchasing appropriate equipment or learning from experience. In this respect, donations are received from The Medlock Charitable Trust and The Coles-Medlock Foundation Charitable Trust, charities of which Mr D J Medlock, the brother of Mrs T Boshier, is a trustee.
True and Fair override
The accounts (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 by 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 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn
Independent examiner
M Proctor FCA DChA has been re-appointed as independent examiner for the ensuing year.
- 5 -
The Boshier-Hinton Foundation
Trustees' annual report (continued)
Year ended 31 March 2021
The trustees' annual report was approved on 23 August 2021 and signed on behalf of the board of trustees by:
Dr P Boshier Trustee
- 6 -
The Boshier-Hinton Foundation
Independent examiner's report to the trustees of The Boshier-Hinton Foundation
Year ended 31 March 2021
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 March 2021 which comprise the statement of financial activities, statement of financial position and the related notes.
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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
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.
- 7 -
The Boshier-Hinton Foundation
Independent examiner's report to the trustees of The Boshier-Hinton
Foundation (continued)
Year ended 31 March 2021
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 accounts to be reached.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) 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) 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 since been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
26 August 2021
- 8 -
The Boshier-Hinton Foundation
Statement of financial activities
Year ended 31 March 2021
| 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total funds | Total funds | |||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Donations and legacies | 4 | 82,500 | 82,500 | 180,864 | |
| Investment income | 5 | 32,305 | 32,305 | 51,856 | |
|
|
|
|||
| Total income | 114,805 | 114,805 | 232,720 | ||
|
|
|
|||
| Expenditure | |||||
| Charitable activities | 6 | (209,262) | (209,262) | (243,123) | |
|
|
|
|||
| Total expenditure | (209,262) | (209,262) | (243,123) | ||
|
|
|
|||
| Net income/(expenditure) and net movements in funds | |||||
| before gains and losses on investments | (94,457) | (94,457) | (10,403) | ||
| Net gains/(losses) on investments | 7 | 280,098 | 280,098 | (88,161) | |
|
|
|
|||
| Net income/(expenditure) and net movement in funds | 185,641 | 185,641 | (98,564) | ||
|
|
|
|||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,062,262 | 1,062,262 | 1,160,826 | ||
|
|
|
|||
| Total funds carried forward | 1,247,903 | 1,247,903 | 1,062,262 | ||
|
|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 17 form part of these financial statements.
- 9 -
The Boshier-Hinton Foundation
Statement of financial position
31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investments | 11 | 1,093,729 | 813,631 | ||
| Current assets | |||||
| Debtors | 12 | 2,557 | 14,757 | ||
| Cash at bank and in hand | 152,871 | 234,874 | |||
|
|
||||
| 155,428 | 249,631 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 13 | (1,254) | (1,000) | ||
|
|
||||
| Net current assets | 154,174 | 248,631 | |||
|
|
||||
| Total assets less current liabilities | 1,247,903 | 1,062,262 | |||
|
|
||||
| Net assets | 1,247,903 | 1,062,262 | |||
|
|
||||
| Funds of the charity | |||||
| Unrestricted funds | 1,247,903 | 1,062,262 | |||
|
|
||||
| Total charity funds | 14 | 1,247,903 | 1,062,262 | ||
|
|
These financial statements were approved by the board of trustees and authorised for issue on 23 August 2021, and are signed on behalf of the board by:
Dr P Boshier Trustee
Mrs T Boshier Trustee
The notes on pages 11 to 17 form part of these financial statements.
- 10 -
The Boshier-Hinton Foundation
Notes to the financial statements
Year ended 31 March 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Whitegates, 32 Lower Street, Horning, Norfolk, NR12 8AA.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
The Trustees have considered the impact of Covid-19 in making this asssesment
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
Income received by way of donations, legacies, grants and gifts is included in full in the Statement of Financial Activities when receivable.
-
Investment income is included when receivable.
- 11 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Grants payable are payments made to third parties in the furtherance of charitable objectives of the charity. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Financial instruments
The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash at bank
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less.
Taxation
The charity is exempt from tax on its charitable activities.
- 12 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | 80,000 | 80,000 | 180,807 | 180,807 | |
| Gift aid | 2,500 | 2,500 | 57 | 57 | |
|
|
|
|
||
| 82,500 | 82,500 | 180,864 | 180,864 | ||
|
|
|
|
||
| 5. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Dividend income | 32,480 | 32,480 | 51,507 | 51,507 | |
| Interest receivable | (175) | (175) | 349 | 349 | |
|
|
|
|
||
| 32,305 | 32,305 | 51,856 | 51,856 | ||
|
|
|
|
||
| 6. | Expenditure on charitable activities by activity type | ||||
| Grant funding | Total funds | Total fund | |||
| of activities | Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Grants (note 16) | 206,134 | – | 206,134 | 238,578 | |
| IT | – | – | – | 82 | |
| Travel and subsistence | – | 269 | 269 | 695 | |
| Printing, postage and stationery | – | – | – | 2,347 | |
| Bank charges | – | 182 | 182 | 205 | |
| Discounts | – | – | – | 156 | |
| Administration | – | 1,325 | 1,325 | – | |
| Sundry | – | 90 | 90 | – | |
| Governance costs | – | 1,262 | 1,262 | 1,060 | |
|
|
|
|
||
| 206,134 | 3,128 | 209,262 | 243,123 | ||
|
|
|
|
||
| Analysis of governance costs: | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accountancy fees | 1,262 | 1,060 | |||
|
|
||||
| Total | 1,262 | 1,060 | |||
|
|
||||
| 7. | Net gains/(losses) on investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Gains/(losses) on listed investments | 280,098 |
280,098 |
(88,161) |
(88,161) |
- 13 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
8. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,254 |
1,008 |
9. Staff costs
No salaries or wages have been paid to employees, including the trustees, during the year.
10. Trustee remuneration and expenses
No trustees' received remuneration or any other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
Expenses incurred by the trustees have been incurred wholly on behalf of the Foundation in the normal course of its activities. During the year, three Trustees were reimbursed for travel and administration expenses totalling £1,730 (2020: two trustees £695).
11. Investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 April 2020 | 813,631 |
| Additions | – |
| Other movements | 280,098 |
|
|
| At 31 March 2021 | 1,093,729 |
|
|
| Impairment | |
| At 1 April 2020 and 31 March 2021 | |
| Carrying amount | |
| At 31 March 2021 | 1,093,729 |
|
|
| At 31 March 2020 | 813,631 |
|
All investments shown above are held at valuation.
Financial assets held at fair value
The fair value of listed investments is determined by reference to the quoted price for these assets in an active market at the balance sheet date.
12. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other debtors | 2,557 | 14,757 |
|
|
- 14 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
13. Creditors: Amounts falling due within one year
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Accruals and deferred income | 1,254 | 1,000 | ||||
|
|
|||||
| Analysis of charitable funds | ||||||
| Unrestricted funds | ||||||
| At | ||||||
| Gains and | 31 March 202 | |||||
| At 1 | April 2020 | Income | Expenditure | losses | 1 | |
| £ | £ | £ | £ | £ | ||
| General funds | 1,062,262 | 114,805 | (209,262) | 280,098 | 1,247,903 | |
|
|
|
|
|
||
| Gains and | At | |||||
| At 1 | April 2019 | Income | Expenditure | losses | 31 March 2020 | |
| £ | £ | £ | £ | £ | ||
| General funds | 1,160,826 | 232,720 | (243,123) | (88,161) | 1,062,262 | |
|
|
|
|
|
||
| Analysis of net assets between funds | ||||||
| Unrestricted | Total Funds | |||||
| Funds | 2021 | |||||
| £ | £ | |||||
| Investments | 1,093,729 | 1,093,729 | ||||
| Current assets | 155,428 | 155,428 | ||||
| Creditors less than 1 year | (1,254) | (1,254) | ||||
|
|
|||||
| Net assets | 1,247,903 | 1,247,903 | ||||
|
|
|||||
| Unrestricted | Total Funds | |||||
| Funds | 2020 | |||||
| £ | £ | |||||
| Investments | 813,631 | 813,631 | ||||
| Current assets | 249,631 | 249,631 | ||||
| Creditors less than 1 year | (1,000) | (1,000) | ||||
|
|
|||||
| Net assets | 1,062,262 | 1,062,262 | ||||
|
|
14. Analysis of charitable funds
15. Analysis of net assets between funds
- 15 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
16. Grants
| 2021 | |
|---|---|
| £ | |
| Animal Antiks | 1,000 |
| Ashton School Fund | 2,000 |
| Autistic Soc. Gr. Manchester | 1,000 |
| BSL Community | 1,500 |
| BOSP | 1,500 |
| Back Up | 11,050 |
| Beacon Vision | 2,500 |
| Bolton Deaf Society | 2,000 |
| British Paralympic Association | 15,000 |
| Canine Partners for Independence | 1,400 |
| Carrfield Primary Academy | 2,000 |
| Cerebral Palsy Scotland | 1,676 |
| Cherry Trees | 1,274 |
| CHIPS | 1,500 |
| Crossroads | 2,000 |
| Deaf Academy | 35,845 |
| Dingley Family & Specialist Early Years Centre | 1,047 |
| Diverse Abilities Plus | 2,500 |
| Douglas Bader Foundation | 2,000 |
| Down's Sydrome Devel. Trust | 1,000 |
| Edinburgh Science | (1,000) |
| Friends of Victoria School | 1,000 |
| John Fielding Special School | 2,000 |
| Head2Head Sensory Theatre | 750 |
| Living Options Devon | 1,950 |
| Multiple System Atrophy Trust | 1,000 |
| North East Sensory Services | 1,900 |
| North Tyneside Disability Forum | 900 |
| Oakwell Rise Primary School f Barnsley | 500 |
| Open Door Centre (Swindon & District) | 1,474 |
| Open Up Music | 15,000 |
| Perkisound CIO | 2,000 |
| Portesbery Partnerships | 2,000 |
| Reuben's Retreat | 1,755 |
| Royal Hospital for Neuro-dis. | 1,000 |
| Royal Philharmonic Orchestra | 2,000 |
| Royal Scottish National Orchestra | 1,000 |
| SASBAH | 1,500 |
| SELFA | 2,370 |
| SENSE | 15,000 |
| SSAFA | 1,000 |
| St Mary’s College Sports Dev. | 2,000 |
| Sandwell Youth in Action | 1,000 |
| Sight Support Derbyshire | 1,180 |
| Snowdon Trust | 15,000 |
| Soundabout | 2,000 |
| Special Effect | 5,000 |
| Spina Bifida Hydrocep | 1,000 |
| Sporting Challenge | 900 |
| Stanley Grange Com. Assoc. | 2,000 |
| Step By Step London | 1,536 |
| Stick 'n Step | 500 |
| Tall Ships Youth Trust | 1,500 |
- 16 -
The Boshier-Hinton Foundation
Notes to the financial statements (continued)
Year ended 31 March 2021
Grants (continued)
| 2021 | |
|---|---|
| £ | |
| Teesside Ability Support Centre | 1,280 |
| Three Ways School | 1,855 |
| Tourettes Action | 848 |
| Treloar Trust | 2,000 |
| Walkabout Foundation | 500 |
| Walsall Society for the Blind | 1,144 |
| Walton Leigh Schools PTA | 2,000 |
| Welsh National Opera | 1,500 |
| Whizz Kidz | 15,000 |
| Young Vic | 2,000 |
| Unpresented cheque written back | (500) |
|
|
| 206,134 | |
|
17. Related parties
Donations received from related parties without conditions totalled £80,000 (2020: £180,000).
- 17 -