Registered number: 05676019 Charity number: 1113699 WATCH HILL FOUNDATION (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
WATCH HILL FOUNDATION (A Company Limited by Guarantee) CONTENTS Page Reference and Admlnistratlve Detslls of the Company, Its Trustees and Advlsers Trustees. Report Independent Examlnerfs Report ststement of Flnanclal Actlvlties Balance Sheet Notes to the Flnanclal Statements
WATCH HILL FOUNDATION IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024 Trustees C I Von Chrislierson, Chair N C Von Chrislierson Company reglstsred number 05676019 Charlty reglstered number 1113699 Registered office Harwood House 43 Ha00d Road London SW6 4QP Accountants Warrener Stewart Harwood House 43 Harwood Road London SW6 4QP Solicitors Charles Mia, solicilors 39 St James Place London SW1A 1NS
WATCH HILL FOUNDATION {A Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The Trustees present their annual report together with the financial slalements of the Watch Hill Foundation for the 1 February 2023 10 31 January 2024. The Annual Report setves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confim that the Annual Reporl and financial statements of the charitable company comply with the current slalutory requirements. Ihe requirements of the charitable companls governing document and the provisions of the Statement of Recommended Praclice {SORP) applicable lo chalilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 20191. Since th8 Company qualifies as small under sectitin 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors, Reporl) Regulalions 2013 has been omilled. Objectives and actlvltles a. Pollcle8 and objectlves The policies and objectives of the charity are.. lo raise funds for charitable causes, predominantly associated with Africa. In the fields of education, the arts, environmenlal preservation, the protection of endangered flora and fauna, criminal rehabilitation and the promotion of self-help and socio-economic advancement among historically disadvantaged communities., and The collecllon, preservation and inlemational exhibition of Afro-cuban art. In selling objectives and planning for aclivilies, the Trustees have given due consideration lo general guldance published by the Charity Commission relaling to public benefit, including the guidance 'Public benefit.. running a charity {P82)'. b. A¢tlvltle8 undèrtaken to achleve objectlves The charity awards granls in line with its aims and objectives as laid out in ils governing conslitulion. c. Maln actSvltles undertaken to further the Company's purposes for the public benefit The Company has conlinued lo source relevant pieces of artwork and has also managed to make specific donations lo affected communities during the Cow&19 pandemic. Achlevements and perfomlance . Main achievements of the Company The company continued to raise donations and made a number of successful charitable grants and awards in line with its aims and objectives.
WATCH HILL FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2024 Flnanclal revlew . Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable fulure. For this reason, Ihey conlinue to adopt the going concern basis in preparing the financial slatements. Further details regarding ihe adoption of the going concern basis can be fourKI in the accounling policies. b. Reserves pollcy The Company maintains sufficient reserves lo meet rts forward operational costs and lo enable il lo react swiftly to opportunities lo further ils charitable aims. Slructure, governance and management a. Constitutlon Watch Hill Foundation Is regislered as a charitable company limited by guarantee and was set up by a Trust deed. b. Methods of appolntment or election of Trusteè8 The management of the Company is the responsibility of the Trustees who are elected and copted under the terms of the Trust deed. Statement of Trustees, responsibilitles The Trustees (who are also the directors of the Company for the purposes of company law) are respon51ble for preparing th8 Trustees, Report and the financial slatements in accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees lo prepare financial slatemenls for each financial . Under company law, the Trustees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial slalements. the Trustees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting eslimales that are reasonable and prudent., stale whether appltcable UK Accounting Standards (FRS 102) have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial stalemenls on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records thal are sufficient lo show and explain the Companys transactions and disclose with reasonable accuracy al any lime the financial position of Ihe Company and enable them to ensure Ihal Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
WATCH HILL FOUNDATION (A Company Llmll•d by Gu•r•nt••) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Approved by ord•r ol tha membern of Ihe boord of Tru81& and 8lgned on Ihelr beh811 by. C I Von Chrf•tl•r•on Dat•: 17 O¢tober 2024 Scanned wllb CamS¢anner-' CS
WATCH HILL FOUNDATION (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Independent Examinerfs Report to the Trustees of Watch Hlll Foundatlon ('the CompanW) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 January 2024. Responslbllllles and Basls of Report As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies A¢t 2006 ('Ihe 2006 Acl'l. Having satisfied myself that the accounts of the Company ar8 not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of the Companls accounts carried out under section 145 of the Charities Act 2011 ('Ihe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent Examinerfs Ststement I have completed my examination. I confirm that no mallers have come to my attention in connection with the examination giving me cause to believe- accounting records were nol kept in respect of the Company as required by section 386 of the 2006 Act; or the accounts do nol accord with those records., or the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf Mew which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no olher matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely lo the Companls Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Companvs Trustees those matters l am required to stale lo them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permitted by law. I do not accepl or assume responsibility to anyone other than the Company and the Companws Trustees as a body, for my work or for this reporl. Colin Edney Warrener Slewart Harwood House 43 Harwood Road London, SW6 4QP 17 October 2024
WATCH HILL FOUNDATION (A Company Limited by Guarantse} STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JANUARY 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies 194,351 194,351 119, 707 Expenditure on: Charitable activities 15,793 15,793 44,034 Net movement In funds 178,558 178,558 75,673 Reconclllatlon of funds: Total funds brought forward Nel movement in funds 731,911 178,558 731,911 178,558 656,238 75,673 Total funds carrled foNard 910,469 910,469 731,911 The Statement of Financial Aclivilies includes all gains and losses recognised in Ihe year. The notes on pages form part of these financial statements.
WATCH HILL FOUNDATION IA Company Llmll•d by Gu•ranlM) REGISTERED NUMBER: 05878019 BALANCE SHEET AS AT 31 JANUARY 2024 2024 2023 Not• Flx•d M•l• H61itago •JMI• 900.688 716.606 900,688 716,606 Curr•nt as••t• Cash at bank and In h8rKI 16.935 11,611 16,93ts Creditors: amounts falling due withSn one year (1,630) (1,630) Not ¢urr•nt 48uts 9,881 1&305 Tot•1 n•t 88g•t• 910,469 731,911 Charfty fund• Restricted funds Unreitricted funds 11 11 910,469 731.911 Total fund• 910,469 731,911 The Companywas enlitW to exempikn Irom audit under 8ectth 477 of th C<Jmpanlos Act 20C. Tho member8 h8v• nol r•qulr•d the company to oblaln an audit for tho year In question tn accordance with 80Ctlon 478 ol Compankn Act 20to. Th• Trn81e acknedge Ihelr re8ponsbllille8 lor comptyiw V*ilh Ihe requirements of the Act thfylh re8pect lo accountin9 fecorda and preparalion of financlal StatnentS. The finonclal 818lemenlJ have boon prepared kn ac¢ordarKe vrilh tho provision8 applicabl• to entilie8 8ubJect to the small c4ynpanSes reglme. The financial statements were approved and aulhorised lor Issue by Ihe Trustees arKI signed on Ihelr behalf ty. C I Von Chrf•tlernon Dale.. 17 October 2024 The notes on pages lomi part of thes8 fancIal staiemenls. SGBnn8d wllh cs &1 Camscannef.,
WATCH HILL FOUNDATION IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 General infonnation The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up. Ihe liability in respect of the guarantee is limited to £10 per member of the company. Accountlng policies 2.1 Basls of prèparation of financlal ststements The finanrial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Acl 2006. Watch Hill Foundalion meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Income All Income is recognised once the Company has enlillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. 2.3 Expendlture Expenditure is recognised once Ihere is a legal or constructive obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement and Ihe amount of the obligalion can be measured reliably. Expenditure is classified by activity. The cosls of each activity are made up of the total of direcl costs and shared costs, including support costs involved in undertaking each activity. Direct costs atlribulable to a single aclivily are allocated directly lo that aclivily. Shared costs which contribule lo more than one activity and support costs which are not allribulable to a single activity are apportioned between Ihose activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direclly undertaking the activities which further the Companrfs objectives, as well as any associated support cosls. Grants payable are charged in the year vthen the offer is made except in Ihose cases where the offer is conditional, such grants being recognised as expenditure when Ihe conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT.
WATCH HILL FOUNDATION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accounting pollcles (continued) 2.4 Herltagè assets The foundation holds assets that fall under Ihe definition of "Herilage Assets" These assets comprise Works of Art Collection. These assets are reported al cost where Ihe asset is purchased or at current value where the asset is donated. Such assets are nol depreciated but are reviewed for impairment in the event of physical delerioralion. Any impairment in the value of the asset is treated as charitable expenditure in the year in which it arises. Expenditure which is required to preserve or prevent further deterioration of the collection is TeGognised in the SOFA when il is incurred. 2.S Cash at bank and In hand Cash al bank and in hand includes cash and short-term highly liquid inveslmenls with a short malurily of Ihree months or less from the dale of acquisition or opening of the deposil or similar account. 2.6 Llabllltles and provlslons Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllement can be estimated reliably. Liabililies are recognised al the amounl that the Company anlicipates il will pay lo sellle the debt or the amount it has received as advanced payments for the goods or services il must provide. 2.7 Flnanclal In8truments The Company only has financial assets and financial liabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their selllemenl value with the exceplion of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.8 Fund accountlng General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
WATCH HILL FOUNDATION IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Income from donalions and legacies Unrestricted funds 2024 Total funds 2024 Donations 194.351 194,351 Unreslricled funds 2023 Tolal funds 2023 Donations 119, 707 119,707 Analysls of grants Grants to Instltutions 2024 Total funds 2024 Grants made 5,548 6,548 Grants to Institulions 2023 Total funds 2023 Grants made 38, 795 38, 795
WATCH HILL FOUNDATION IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Analysls of expenditure by activltles Grant funding of activities 2024 Support costs 2024 Total funds 2024 Support costs Grants made 10,245 10,245 5,548 5,548 5,548 10,245 15,793 Granl runding ol activities 2023 Support costs 2023 Tolal funds 2023 Support costs Grants made 5,239 5,239 38, 795 38, 795 38, 795 5,239 44,034 Independent examlnerfs remuneratlon 2024 2023 Fees payable lo Ihe Companvs independent examiner for the independent examination oflhe Companvs annual accounts 1,630 1,630 Truslees. rèmuneration and expenses During the year, no Trustees reiVed any remuneration or other benefils (2023 - £NIL). During the year ended 31 January 2024, no Truslee expenses have been incurred {2023- £NIL).
WATCH HILL FOUNDATION IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Herltage assets Assets re¢ognised at cost Works of art 2024 Carrying value at 1 February 2023 Additions 716,606 183,982 900,588 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 1,630 1,630 10. Flnanclal Instruments 2024 2023 Flnancial assets Financial assets measured al fair value through income and expenditure 11,S11 16,935 Financial assets measured al fair value through income and expenditure comprise cash and cash equivalents.
WATCH HILL FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 11. Statement of funds ststement of funds- current year Balance at I February 2023 Balance at 31 January 2024 Income Expendltura Unrestrlcted funds General Funds - all funds Grants made Support costs 731,911 194.351 926,262 (10,2451 15,5481 (10,2451 15,548) 731,911 194,351 (15,7931 910,469 ststement of funds - prlor year Balancé al 1 February 2022 B81ance al 31 Jai?uary 2023 Income Exp8ndilure Unrestrlcted funds General Funds - all funds Grants made Support costs 656,238 119,707 775,945 (38, 795) (5,239) (38, 795) (5,239) 656,238 119,707 (44,034) 731,911
WATCH HILL FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 12. Summary of funds Summary of funds- current year Balance at 1 February 2023 Balance at 31 January 2024 Income Expendlture General funds 731,911 194,351 115,7931 910,469 Summary of funds- prioryear Balance al l February 2022 8818nc8 81 31 January 2023 Incom8 Expenditure General funds 656,238 119, 707 (44,034) 731,911 13. Analysls of net assets between fund8 Analysls of net assets between funds - current year Unrestricted funds 2024 Total funds 2024 Heritage assets Current assets Creditors due within one year 900,588 11,511 (1,630) 900,588 11,511 {1,630) Total 910,469 910,469
Watch Hill Foundation accounts 2024
Final Audit Report
2024-10-25
Created: 2024-10-25 By: Jessica Wright (jwright@warrenerstewart.com) Status: Signed Transaction ID: CBJCHBCAABAARId5Vwlh9C3Md21qkpuGVde4EMnkYvCG
"Watch Hill Foundation accounts 2024" History
Document created by Jessica Wright (jwright@warrenerstewart.com) 2024-10-25 - 10:51:29 AM GMT
Document emailed to Colin (cedney@warrenerstewart.com) for signature 2024-10-25 - 10:51:45 AM GMT
Email viewed by Colin (cedney@warrenerstewart.com) 2024-10-25 - 10:58:48 AM GMT
Document e-signed by Colin (cedney@warrenerstewart.com) Signature Date: 2024-10-25 - 10:59:16 AM GMT - Time Source: server
Agreement completed.
2024-10-25 - 10:59:16 AM GMT