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2023-04-05-accounts

Registered Charity Number: 1110565

THE GENERATIONS FOUNDATION

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] April 2023

Registered Charity Number: 1110565

Registered Charity Number: 1110565

CONTENTS Page
Reference and administrative details 1
Report of the trustees 2 - 5
Independent Examiners Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 12

Registered Charity Number: 1110565

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5[TH] APRIL 2023

Reference and Administrative Information

Charity Name: THE GENERATIONS FOUNDATION Registered Charity number: 1110565 Registered Office: 36 Marryat Road London SW19 5BD Trustees: RP Finch R Finch SJ Finch Bankers: Coutts & Co 440 Strand London WC2R 0QS Independent Examiner: Community Action Sutton Granfers Community Centre 73-79 Oakhill Road Sutton SM1 3AA

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Registered Charity Number: 1110565

THE GENERATIONS FOUNDATION

REPORT OF THE TRUSTEES FOR THE YEAR TO 5TH APRIL 2023

Objectives

The Generations Foundation, formerly The Generations Charitable Trust, is an unincorporated charity established by trust deed on 1[st] July 2005. The name was changed in November 2011.

The objectives of the charity are to assist a wide- ranging class of beneficiaries both in and out of the U.K. Our focus has been broadly split between supporting disadvantaged children, small local charities and environmental concerns. We have assisted U.K. based causes as well as several overseas.

It is the intention of the trustees to continue to build on this range of charities. Whilst the trustees are committed to supporting worthy causes, they have not entered in to any binding commitments for the future.

The trustees meet regularly to review requirements of potential beneficiaries, overall strategy and direction of the charity, as well as investment strategy.

The trustees have the power at their discretion to pay or apply the capital and income in favour of the above objectives. The trust was registered as a charity with the Charity Commission number 1110565 on the 25[th] July 2005.

Trustees

R P Finch R Finch S J Finch

The power of appointing new or additional trustees is vested with the trustees. The trustees make decisions about the organisation and management of the trust on a joint basis.

Review

The statement of financial activities for the period is shown. The activity of the charity is financed by its investment income and capital. During the period the charity made donations to various charities and educational establishments totalling £204,828. The make-up of these grants is disclosed in the notes to the accounts. The Foundation has been involved with many activities during the year, some of which are outlined below:

We have continued our commitment to disadvantaged young people with support of:

Malawi Schools Trust

Malawi Schools trust have spent over 10 years fund raising and they have helped improve the schools in a small community called Mtunthama in Central Malawi and put it on a sustainable path. Work is now focused on a community called Mikuyu, 15kms from Mtunthama. Building on our support last year we donated funds towards the building of a hostel for girls. The hostel was completed this year and named ‘Generations Hostel’. The work of the charity together with our support means that 200 children in the area are now able to attend senior school.

The Tim Henman Foundation

The THF run the Career Path Programme for 16- 24yr olds. They support young people in achieving a sports coaching qualification and guarantee paid work experience to give them a real start. These projects run in Wandsworth and across southeast London.

Living in the heart of Wimbledon we were pleased to support this local charity in their work with local children struggling in education.

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Registered Charity Number: 1110565

Home Start Merton

The Generations Foundation has supported its local Home Start charity over recent years. Home Start provides direct practical and emotional support to families in need with young children and who do not meet the threshold for statutory services from the local authority. They also work in partnership with the local authority to help families whose child is subject to a child in need/child protection plan. Home Start’s overheads are low as they place trained volunteers alongside parents, providing tailored, personalised support for as long as it is necessary. The Generations Foundation continues to support the great achievements of this charity.

Regenerate

Regenerate has been supporting young people and families in Roehampton since 2000, helping transform lives and communities from the inside out. It also helps and supports others who are initiating similar projects on estates across London. It provides positive activities, mentoring and coaching to young people, helping them to gain skills and employment and enabling them to move from a position of disenfranchise to playing a full role in society. In 2014 Regenerate started its first social enterprise company The Feel Good Bakery. In response to trading difficulties posed by COVID the charity established two coffee carts selling barista quality coffee and food direct to the public. Regenerate continue to develop and support young people in their local area, so that they focus not just on their needs but the needs of others. They took a group of young people on a fund raising cycle from Paris to London.

Jigsaw4U

Building on the successes of their 25[th] anniversary last year, they have now achieved a London Youth gold quality award. Very few organisations achieve this award. In total they supported 7,111 individuals which included just over three thousand new enquires. We are delighted to continue supporting this well run and impactful charity.

Our support of ecological projects included:

Vincent Wildlife Trust

In memory of a good friend and great campaigner the trustees were please to make a donation to the Vincent Wildlife Trust to enable the completion of an important project

Sound Science Research Collective

We were pleased to support the work of this charity by making a significant contribution to the purchase of a new boat, which will enable them to expand their research.

Blue Marine foundation

Blue Marine aims to restore the ocean to health by addressing overfishing, one of the world’s biggest environmental problems. We were pleased to support them with a donation in support of their vision: “Our vision is a healthy ocean forever, for everyone. We are dedicated to creating marine reserves, restoring vital habitats and establishing models of sustainable fishing.

Blue Marine’s mission is to see at least 30% of the world’s ocean under effective protection by 2030 and the other 70% managed in a responsible way.”

Whale Wise

We supported a new and relatively small charity doing impressive work, researching the impact of developments in Iceland on the Whale population.

Administration

The trustees have continued the services of an Administrator to work part time for the charity.

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Registered Charity Number: 1110565

Plans for Future Periods

The trustees will continue to focus on local Charites wherever possible and remain dedicated to our goals of helping disadvantaged children. In addition, the charity will consider additional ecological support.

Public Benefit

In setting the Trust's objectives and planning its activities the Trustees have complied with their duties under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The Trustees consider that the objects of the Trust, the activities outlined in this report and plans for future periods demonstrate public benefit.

Reserves policy

The Generations Foundation makes its charitable donations from income and capital and incurs administration expenses and therefore the trustees consider that realised income reserves are required to be retained to meet this commitment. This policy is regularly reviewed at trustee meetings held during the year.

Risk management

The major risks to which The Generations Foundation are exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks.

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

We consider the audit requirements of S144 of the Charities Act 2011 does not apply.

On behalf of the trustees

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R Finch
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Dated: 03/12/ 2023

Registered Charity Number: 1110565

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GENERATIONS FOUNDATION

Independent Examiner’s Report on the Accounts

I report on the accounts for the charity for the year ended 5[th] April 2023.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an Independent Examination is needed

It is my responsibility to:

Basis of independent examiners report

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements have not been met;

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Name: Dunstanette Kuti FCCA Date: 05/12/2023

Position: Community Accountant Community Action Sutton Granfers Community Centre 73-79 Oakhill Road

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Registered Charity Number: 1110565

THE GENERATIONS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH] APRIL 2023

Note
Income from:
Donations
2
Investments
Total
Expenditure on:
Charitable Activities
3
Total
Net Income /
(expenditure)
Net movement in funds
Total Funds brought
forward
Total Funds carried
forward
7		 Restricted
Funds
Unrestricted
Funds
Total
Funds
Total
Funds
2023
2023
2023
2022
£
£
£
£
-
187,500
187,500
250,000
-
184
184
8
-
187,684
187,684
250,008
-
219,889
219,889
332,278
-
219,889
219,889
332,278
-
(32,205 )
(32,205 )
(82,270 )
-
(32,205 )
(32,205 )
(82,270 )
-
40,578
40,578
122,848
-
8,373
8,373
40,578

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

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Registered Charity Number: 1110565

THE GENERATIONS FOUNDATION BALANCE SHEET AS AT 5[TH] APRIL 2023

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Note 2023 2022
£ £ £ £
CURRENT ASSETS:
Cash at bank and in hand 9,873 42,078
CREDITORS: amounts failing
due within one year
Creditors 6 1,500 1,500
NET CURRENT ASSETS: 8,373 40,578
NET ASSETS 8,373 40,578
THE FUNDS
Unrestricted 8,373 40,578
7 8,373 40,578
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Approved by the Board of Trustees and signed on its behalf by:

Rohini Finch

03/12/ 2023

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Registered Charity Number: 1110565

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2023

Summary of significant accounting policies

1.1 General information and basis of preparation

The Generations Foundation is an unincorporated charity established by trust deed on 1"July 2005. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are to provide grants to charities which meet the objectives of the charity stated on page 2.

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 (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), 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 charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. 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 (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The accounts have been prepared under the historical cost convention and have been prepared in accordance with the Statement of Recommended Practice: "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)" issued on 16 July 2014, and the Charities Act 2011.

1.2 Cost of raising funds

The cost of generating funds consist of governance costs, website funding and bank charges.

1.3 Income recognition

All income is recognised at the date in which the charity has entitlement to the income; it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations are recognised when the trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

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Registered Charity Number: 1110565

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[TH] APRIL 2023 (Continued)

1.4 Expenditure recognition

Liabilities are recognised as expenditure at the date that there is a legal or constructive obligation omitting the charity to the expenditure; it is probable that settlement will be required; and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Trust.

Provisions of grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount of grant payable.

1.5 Charitable activities

Costs of charitable activities include grants made during the year.

1.6 Incoming resources

Incoming resources are included gross on a receivable basis. There are no deferred incoming resources.

1.7 Investment income

Investment income is included in the statement of financial activities on the accruals basis.

1.8 Accounting basis

The accounts have been prepared on an accruals basis,

2. INCOME FROM DONATION

Donations Received
Gift Aid
 Total Funds
Total Funds
2023
2022
150,000
200,000
37,500
50,000
187,500
250,000

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Registered Charity Number: 1110565

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 (continued)

3. EXPENDITURE ON CHARITABLE ACTIVITIES

Direct
Costs		 Support
Costs		 Total 2023
Total 2022
Total 2022
£ £ £ £
Charitable expenditure
Grants
 - 209,418 209,418 298,054
Donations
 - - - 25,000
Direct costs (note 4)
 - 8,150 8,150 7,724
- 217,568 217,568 330,778
Governance costs (note 5) 2,321 2,321 1,500
- 219,889 219,889 332,278
Charitable grants and donations 2023 2022
£ £
Grants & Donations:
Grants:
British Red Cross -
60,000
Blue Marine Foundation 25,000
-
CPPD (UK) 4,410
-
Child Bereavement -
5,000
Crammer Primary School -
5,000
Downs South London -
12,500
Global Hospital and Research Centre New Delhi Branch -
15,000
Home Start Merton 25,000
25,000
Jigsaw4U 20,000
40,000
Kids Care London -
5,000
Lars Bonding 10,000
-
Malawi Schools Trust 15,000
2,000
Momentum 5,000
10,000
Neuro harmony Ltd ( 2,554 ) 2,554
Prodigal Bikes -
8,000
Prostrate Cancer 1,000
-
Rozmanita -
15,000
Second Sight 20,000
-
Sound Science Research 19,712
-
Small Steps SFP -
12,500
Stem4 -
500
The Lantern Trust -
5,000
The Linden Lodge -
15,000
The Tim Henman Foundation 6,760
-
UNHCR -
40,000
Vincent Wildli 25,000
-
Whale Wise 5,000
-
Willdoes -
10,000
Wimbledon Guild -
5,000
You Make It -
5,000
Georgina Levers 4,590 -
Donations:
Regenerate 25,500
25,000
209,418
323,054

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Registered Charity Number: 1110565

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 (continued)

4. SUPPORT COSTS COMPRISE OF:

Direct costs
Office costs
5. GOVERNANCE
Independent Examiner Fees
Trustee Meeting Expenses
Bank Charges
NET INCOME EXPENDITURE
Independent Examination Costs		 2023
2022
£
£
7,450
7,314
700
410
8,150
7,724
2023
2022
£
£
1,550
1,500
-
-
771
-
2,321
1,500
2023
2022
£
£
1,550
1,500

During the year no Trustees received any remuneration (2022 –Nil) During the year no Trustees received any benefits in kind (2022 –Nil) During the year no Trustees received any reimbursement of expenses (2022 –Nil)

6. CREDITORS – Amounts falling within one year

Accruals 2023
2022
£
£
1,500
1,500
1,500
1,500

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Registered Charity Number: 1110565

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 (continued)

7. STATEMENT OF FUNDS

Specific Funds
General Funds
Total Unrestricted Funds
Total Restricted Funds
TOTAL FUNDS		 At 5th
April 2022
Income
Expenditure
Transfer
At 6th
April 2023
£
£
£
£
£
-
-
-
-
-
40,578
187,684
(219,889 )
-
8,373
40,578
187,684
(219,889 )
-
8,373
-
-
-
-
-
-
-
-
-
-
40,578
187,684
(219,889 )
-
8,373

12