Charity registration number 1114429 (England and Wales)
CHAMPNEYS CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
CHAMPNEYS CHARITABLE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees MrA Whiteley Mr P Mitchell Charity number 1114429 Registered office Henlow Grange Henlow Bedfordshire SG16 6DB Independent examiner Azets Audit Services Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ
CHAMPNEYS CHARITABLE FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees report | 1-3 |
| Statement ofTrustees’ responsibilities | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notestothefinancialstatements | 8-12 |
CHAMPNEYS CHARITABLE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2025
The Trustees present their annual report and financial statements for the year ended 30 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The charity's objectives are to promote such charitable purposes within the UK as the trustees shall from time to time determine by the provision of grant assistance to other charitable bodies or to individuals in particular with regard to sick, disabled, or disadvantaged children and adults.
Income is raised by Champneys Group and through fundraising activities. There has been no change in the charity's objects during the year.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'.
b. Grant - making policies
The charity achieves its purpose and objects by making grants to other charities and individuals. The number of charities and individuals which the charity can support is necessarily limited by the leve! of funds available for distribution in any year.
The trustees have determined that priority should be given to making grants in order to offer relief to those in need and charities that operate in pursuit of Health related activities and initiatives.
The grant making priorities are reviewed annually, or more often, if deemed appropriate by the trustees, and there may be changes in accordance with the trustees’ view of the most effective application of the available funds at any point in time. Any change to the priorities must still fulfil the charitable purposes and objects of the charity.
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CHAMPNEYS CHARITABLE FOUNDATION
TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
Achievements and performance
Financial review
The entire resources of the Charity are unrestricted and the trustees have complete discretion over their use. During the year the income from donations fell to £26,203 (2024: £44,352); this decrease was attributable to a reduction in personal disposable income.
At the year end, unrestricted funds amounted to £86,119 (2024: £109,494).
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to twelve month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. The trustees are aware that the reserves at the reporting date are substantially in excess of twelve months expenditure.
Atrading company, in which the Charity's Trustees are Directors, oversees the collection of charitable donations and paying out charitable grants from its bank account, on behalf of the Charity. This has given rise to a debtor in the Charity's accounts of £30,003 (2024: £57,356). This amount is owed by the trading company.
Reserves Policy
The trustees are aware of the requirement to adopt a reserves policy. They are aware that sufficient reserves need to be retained to cover the charity's expenditure, and potential shortfalls in income. No formal assessment of a suitable amount to be set aside as free reserves has been agreed at present but the trustees are aware that the charity has no ongoing commitments or fixed overheads. A formal reserves policy will be finalised once a pattern of operational activity has been established.
Risk Management
The trustees are responsible for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
Structure, governance and management
Constitution
Champneys Charitable Foundation is an unincorporated charity registered with the Charity Commission under charity number 1114429 and is constituted under a Trust deed dated 4 April 2006.
The principal place of business is Henlow Grange, Henlow, Bedfordshire, SG16 6DB.
Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. New trustees may be appointed at any time, by majority vote of the current trustees. The total number of trustees may at no time fall below three.
The trustees who served during the year are set out within the Legal and Administrative information.
Financial Risk Management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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CHAMPNEYS CHARITABLE FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Theval was approved by the Board of Trustees. MfA Whitele Trustee Date: 2% februey tor©
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CHAMPNEYS CHARITABLE FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 30 APRIL 2025
The Trustees are responsible for preparing the Trustees' 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 year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
~ make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient 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.
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CHAMPNEYS CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2025 | 2024 | |||
| Notes | £ | £ | ||
| Income from: | ||||
| Donations and legacies | 2 | 26,203 | 44,352 | |
| Total income | 26,203 | 44,352 | ||
| Expenditure on: | ||||
| Charitable activities | 3 | 49,578 | 48,136 | |
| Total expenditure | 49,578 | 48,136 | ||
| Net expenditure and movement in funds | (23,375) | (3,784) | ||
| Reconciliation offunds: | funds: | |||
| Fund balances at | 1 May 2024 | 109,494 | 113,278 | |
| Fundbalancesat | 30April2025 | 86,119 | 109,494 |
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 8 to 12 form part of these financial statements.
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CHAMPNEYS CHARITABLE FOUNDATION
BALANCE SHEET
AS AT 30 APRIL 2025
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Notes|£|£|£|£|
|Current|assets|
|Debtors|9|30,003|57,356|
|Cash|at|bank|and|in|hand|62,116|62,338|
|92,119|119,694|
|Creditors:|amounts|falling|due|within|10|
|one|year|(6,000)|(10,200)|
|Net|current|assets|86,119|109,494|
|The|funds|of the|charity|
|Unrestricted|funds|1|86,119|109,494|
|86,119|109,494|
|The|notes|on|s|8|to|12|form|part|of these|financial|statements.|
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The finangalStétementswere approved by the Trustees on Db Ferrey JoL&
g Vs v, y
Mr A Whiteley
Trustee
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CHAMPNEYS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
- 1 Accounting policies
Charity information
Champneys Charitable Foundation is an unincorporated charity registered with the Charity Commission under charity number 1114429 and is constituted under a Trust deed dated 4 April 2006.
1.1. Accounting convention The financial statements have been prepared in accordance with the charity's Trust deed, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
The Trustees consider that there are no material uncertainties concerning the charity's ability to continue as a going concern. The Trustees are of the opinion that the charity has negligible fixed recurring overheads and therefore having considered post year-end financial results and cash reserves, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The charity had no restricted funds for the period under review.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CHAMPNEYS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
- 1 Accounting policies
(Continued)
1.5 Expenditure All expenditure is recognised on an accrual basis.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities and events.
Expenditure on charitable activites is incurred on directly undertaking the activities which further the Charity's objective, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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CHAMPNEYS CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
1 Accounting policies
(Continued)
Impairment of financial assets
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable tight to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.
2 Donations and legacies
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Donations
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| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2025 | 2024 |
| £ | £ |
| 26,203 | 44,352 |
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CHAMPNEYS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
3 Charitable activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Grant | funding of activities (see note 4) | 43,575 | 42,556 |
| Share | ofsupport costs | 6,003 | 5,580 |
| 49,578 | 48,136 |
4 Grants payable
The charity has made the following material grants to institutions during the year:
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Shelter | 40,000 | - | |
| Flat Friends | 2,500 | - | |
| Ukraine crisis family housing | - | 1,800 | |
| DEC Earthquake appeal | - | 25,000 | |
| SoccerAid UNICEF | - | 10,000 | |
| Henlow Parochial Church | - | 2,000 | |
| Other grants to institutions | 1,075 | 3,756 | |
| 43,575 | 42,556 | ||
| 5 | Net movement in funds | 2025 | 2024 |
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination ofthe charity's financial | |||
| statements | 6,000 | 4,200 |
6 Trustees
During the year, no Trustees received any remuneration or other benefits (2024: ENil). No Trustee expenses have been incurred (2024: £Nil).
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CHAMPNEYS CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2025
7 Employees
There were no employees during the year (2024: 0).
As such, there were no employees who received benefits of more than £60,000 during the year (2024: 0).
- 8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
| 9 | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | 30,003 | 57,356 | |
| 10 | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accrualsanddeferredincome | 6,000 | 10,200 |
11. Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 May 2024 | Incoming | Resources | At 30 April | |
|---|---|---|---|---|
| resources | expended | 2025 | ||
| £ | £ | £ | £ | |
| General funds | 109,494 | 26,203 | (49,578) | 86,119 |
| Previous year: | At 1 May 2023 | Incoming | Resources | At 30April |
| resources | expended | 2024 | ||
| £ | £ | £ | £ | |
| Generalfunds | 113,278 | 44,352 | (48,136) | 109,494 |
12 Related party transactions
Included in other debtors is an amount of £30,003 (2024 - £57,356) due from Champneys Henlow Limited Group companies.
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