ST GEORGE FOUNDATION LIMITED REPORT AM) FINANCIAL STATEMENrs 31 MARCH 2023 Registered Charity Charity Number 1118871 A Company Limited by Guarantee Company Registration Number 05775263
ST GEORGE FOUNDATION LIMITED REPORT AND FINANCIAL STATEMENTS Contents Page Reference and administrativ¢ details R¢port of the board of trustees and directors Report of Independent Examiner Statement of fjnancial activities Balance Sheet Notes to the Ollts 10-13
ST GEORGE FOUNDATION LIMITED Refereo¢e and Administration Registered Charity: Charity Number 1118871 A Company limited by guarantee: Company Registration Number 05775263 Principal Address: Drovers Chapel Road Swanmore Southampton S032 2QB Registered Office: Drovers Chapel Road Swanmore Southampton S032 2QB The ch&ity is incorporated in England & Wales Telephone". 01489 893114 Website: www.stgeorgefoundation.org.uk Principal Bankers: Barclays Bank Patron: The Countess Clarendon Trusfre Directors: The directors of the company in office durino the year and up to the date of this report, who are the tnt¢¢S for the puryoses of charity law were: Richard CJreen-Wilkinson David Hedges Patrick Jol Founder and CEO: Philip Dean
Re ort of the oard of TTh and Directors for the endin 31 March 2023 The TTUStees present their report and the f]nancial statements for the period to 31 March 2023. Refmce and administrative ir)formation set out on page I fornis part of this report- trllctu Governance and Man ement Constitutton ¢Md GoverntngDocupnepts St George Foundation is a wmpany Jimited by guarantee and is a registered Chlty. It was incoTrorated in April 2006 aud comtnenced activities frotll l May 2006. Up to the end of April 2006. the work of St George Foundation was caThied out as a restricted fund of Jacobs W¢ll Care Centre, a registered charity. Members of the charity guaranteed to contribute an amount not exceeding £10 to the assets of the ¢1]ty in the event of winding up. The totsl numE¢r of such guardlltees at 31 March 2022 was 3. The trustees are members of the charity but this entitles them only to votillg rights. The ttwtees have beneficial interest in the charity. The ooverning documents ar¢ the company's Memorandum and Articles of Associatio These detsil the object of the ¢harity, which is: (i) To Teliev¢ poverty alld sickuess and advance educatio in particular, but not exclusively, 8mongst homeless children and young peopl¢ ill Sierra Leone. Recruttment andAppoinfmexl of Trustees When recruiting trustees. the organisation ensutts that the Board has a comprehensive mge of skills needed in order to oversee the activities of the clwity. Trustees elected for the first time must b¢ proposed by a ]nember. Members elect tnL8tees at the Amiuai General Meeting. The B0d of Trustees must be thiee or more. In accordance with the Articl¢s of Associatioo one-third of the trustees must retire by rotation at the Annual General meeti and call seek re-election. OrgLmiSatTonaZStructure The Board of Trustees is responsible for setting the overajl direction and policies of tbe organisation and are&8 of responsibility are split between the trnstees. The Chief Executive Officer is responsible to the Board for the implementation of policies and decisions. Ob"ectives The ChIty'S objective is to raise fimds in the UK and provide those funds to St George Foundation sLea Leolle in filltherdn¢e of the charity's forn objects to reliev¢ poverty
and sickness and advance education amongst homeless children and young people in Sie Leone. When planning the chaTity's activities for the y¢ar. the trustees have considered the Clwity Cornmission's ouidance on publlc benefit. Acbievements and Perfornwce DurAng the period the charity has continued to provide fwids and support in order to rescue children from the streets of Freetown in SieTh Leone. The total number res¢u¢d and h¢lpcd now amounts to over 1,500 childraL The charity's approtich aims to prepare the children for school and tUre life. Activities at the centre ar¢ designed to boost children's self-esteem, improve concentration, unite th¢m as a family and put street life behind them. Singing, dancing, sporL simulated school and play-acting forni part of the intense prograrnme. Once a ehild eDrols at the charity centre in Sierra Leone, the Charity begins a reunification process, looking to fmd and bring together the child with its natllral or extended family. Most of the children rescued so far have been successfully reunited with families or looked after by foster parents. The tharity in Sierra Leone relocated to Grafton on the outskirts of Freetoww in 2007, having renovated a site there. There are opportunities to sponsor a child and help pay for their education, detsils of which are contained on the website at www.stoeor efoundation.or SieTra Leone strugoled to contsin the Ebola outbr¢aK and in October 2014 it arrived on the outskirts of Freet0. This resulted in a large TAumber of orphaned children b¢ing throwi onto the streets, nwiy of whom have had Ebola and survived. In November 2014 the charity in Sierya Leone started a prograrnme of taking in these childre4 and took in over 300 such Children. The plan was to feed and clothe them, care for the and reunite them with other relations or fa and train foster par¢nts, and has been successfully achieved. The chlty was asked by the government to look after the western n]Tat region of Siezra Leone, educating the population about Ebola aud seeking to contain it in this area- a region of many towns and villages, with a population of circa 250,000. Some &ssistance been provided by UNICEF in the forni of tTansport. Rescuing Ebola orpIlS was concluded in D¢¢embeT 2015, largely due to lack of funds. The charity has s0 Provided funds to help families of rescued street chtldren to start-up businesses in Sierra Leone (the Small Business InAtiative), so thai they are abl¢ to fid their own childT¢n's education costs. In Augllst 2017 there was consideTable flooding in Freetown, which lead to a large andslide. causing many deaths and injuTies. The charity assist¢d in looking after survivors, tsking in 20 children and 15 adults, and reuniting them with f8rnilies.
UufortlllteIy, similar flooding Occued again in ?018. The chlty helped about 100 displaced Childre 50 of Mthom were brought temporarily into the CenlTe. They have now all been reunited with famiIi¢s. The Government took quick action when the first Covid 19 c&8e was discovered, and as a consequence Sierra Leone h&s not suffeTed too badly. Th¢ C1]ty cut costs and reduced the number of children at the Centre to 20. In March 2021 there was a fire in FTeetown causing homeless childrn. The charity took in a number of these childw providing food aud shelter, before reuniting them family tnembers. Dun-ng tbe year to 31° March 2021 the InterAuL Care Centre and land next door was pur¢hase4 providing greater security for the charity for the future. As a consequence, improvements are being trlade to the Centre buildings, incorporating offices and improved accommodation. Financial Review Net Incoming Resources Unrestiicted fi]nds show a deficit for tbe year of £9.641. This is largely due to the need to Writs off loans to the vaIue of £10,540. However ther¢ has also been money well spent at the Ceutre on new offices (£3,000), fencing and se¢urity (£3,600) and solar and battfflies (£1,200). The unrestricted fijnd income totallins £65,872 was down on the prevxous year's income of £71,049, a reductiou of £5.177. UDrestricted fi]nd expenditure was up at £75.513, leaving the deficit for the year. Restricted fi]lld illcome. totalled £3,412, with ¢xEKnditure of £4,048, leaving a small d¢fi¢it of £636 Iherheadf LmdResenyes The Board are con]mitted to minisIng overheads in the UK. For the year the UK ovetheads amouuted to £856, which was just over 10/0 of tot expenditure. It is hoped that sufficient general reserves will be retained to cover ongoing cosE but the Board's policy is to expend sums raised as soon as possible iu achieving the clwity's objects. Balance Sheet The debtors include the 2022123 reftmd of £8,435, which has been received since the yw end. The creditOTS include loans of £5.100, which likely to be fully Iaid tbis year. Plans for the Future The number of cbildren at the Centre is expected to in¢r¢ase to 45 tbis year, and it is hoped tbat the nutnbers will increase furtber ill 2024.
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ST GEORGE FOUNDATION LIMITED INDEPENDENT EXAMtNER'S REPORT TO THE TRUSTEES OF ST GEORGE FOUNDATION LIMITED FOR THE YEAR ENDED 31 MARCH 2023 We report to the clwity tnteeS on our examination of the aeeounts of the company for the year ended 31 March 2023 which are set out on pages 8 to 13. Responsibilities and basis of report As the Charity tntstees of the company (aud also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance 1th the requirements of the Companies Act 2006 (the '2006, Act). Having satisfied ourselves that the accounts of the company are not requir¢d to be audited under Part 16 of the 2006 Act alld are eligibl¢ for independent examinatiofy we rq)ort in respect of our examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out our examination we have followed the directions given by the Charity Commission under section 145(5)(b) of the 201 l Act. Independent examiner's statement We have completed our examination. We COnfM that no matters have come to our attention in co]]nection with the examination gAving us caus¢ to believe that in any llterial respect: accounting records were not kept in respect of the company as required by section 386 of th¢ 2006 Act; or 2. tbe accounts do not accord Th7th those records. or 3. the accounts do not comply with Ihe accounting Tequirements of section 396 of the 2006 Act other than any requirements that the accounts give a 'true a[ fair view, which is not a tnatter con8idered as part of an independent examination; or 4. the a¢wunts have not been prepared in accordance with the methods and PTinciple8 of the Statement of Recommended Practice for awounting aJ]d reporting by Charities applicable to charities prepaTing their accounts in accordance with the Financial Reporting Standard applicable in the UK or Republic of Ireland (FRS 102).
ST GEORGE FOUfqDATION LIMtTED li INDEPEIYDENT EXAMINER'S REPORT TO IHE TRUSTEES OF ST GEORGE FOt)ThDATION LIMITED (Continued) FOR THE YEAR ENDED 31 MARCH 2023 We have no concerns alld have come across no other connection Mryth the examination to wbich attention should be dtawll in this report in order to enable a proper understanding of the accounts to be reached. Mandatr & Co Partnership House 84 Lodge Road Soutlwnpton Hampshire S014 6RG Date:
ST GEORGE FOUNDATION LIMITED STATEMENT OF FINAIYCIAL ACTTrITIES FOR THE YEAR ENDED 31 TrL4RCH 2023 21123 Totsl 2022 Totsl Note8 Re5trict&l Unrestrieted IDcomin8 Resources Voluntary Ju¢ome A¢tivities for generating fill IDvtstment Income 3,412 58,706 7.159 62,118 7.159 94,012 8,013 Total incoming resour¢es 3.412 65,872 69,284 102,028 Resources Expended Costs of generating voluntary inci)me Support for homeless children Andyoung people iu Sierrd Leone 856 856 780 4,048 74,65Y 78.705 107,851 Total resouTces expended 4.048 75,513 79.561 108,631 Net 0veent in funds for the ye¥r (636) (9,641) (10277) (6,603) Totsl funds at l April 21122 13.539 25,989 39,528 46,131 Balanee at 31 Marth 2023 io 12,903 16,348 29,251 39,528
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ST GEORGE FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR EM)ED 31 MARCH 2023 A¢¢ounliDg policies a) The f1claI statements of the charitable company, wbi¢h As a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recollllnended Practice applicable to chwities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective January 2019) and the Companies Act 2006. The ISteeS consider that there are no nmterial uncertsinties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that a£feLt the carrying value of assets held by the charity. b) Voluutary income is Teceived by way of donations and gifts and is included in full Én the statement of fuLancial activities when receivable. Donated govds and serrices ate recognis¢d as an incoming resource where the provider of the goods or services has Incu a financial cost. Volunteer time is not included in the financial stateellts. c) Restricted fimds are to be used for specific PUTPOS¢S as latd dofvn by the donor. Expendi1Mre which meets these criteria is clwged to the fund together with a fair allocation of support and governance costs, wllere this is allowed under the ternis of the funding. d) UnTestricted funds are donations and other incoming resources received or generated for the charitable purposes. These can be used in a¢ooraance with the charitable objects at the discretion of th¢ Int¢CS. ¢) Designated funds are unrestricted fimds earn]ark¢d by the tntee3 for particular purposes. fj Costs of generating funds relate to the costs incued by the charitable company in inductng tbird parties to mak¢ voluntary contiibutions to IL as well &s the cost of any activities wÉth a fundraising puryws¢. g) Resovr¢es expended are recognised on an accruals basis in the period in which they are incurr¢d. Resources expended include attributable VAT which cannot be recovered. h) The clwitable company is not required to prepaTe group accounts due to its siz¢. Th¢s¢ financial statements only Tefer to the parent undertaking. i) Inv¢sttn¢nts are included at cosL io
ST GEORGE FOUNDATION LIllTED NOTES TO THE FINANCIAL STATEMENTS (Conlinued) FOR THE YEAR ENDED 31 MARCH 2023 2023 Restiicted Unrestrict Totsl 2022 Totsl Volllntary Income Donations and Grants Tax Refunds 2,774 638 50,909 7.797 53,683 8,435 82,015 11.997 3,412 58.706 62,118 94.Ol2 Jn 2022 voluntary income of £63,033 was unTestricted. Funds of £30,959 were restiictsd. Cost of generating voluntary Income 2023 Restricted Unrestrieted Totsl 2022 Totsl ArKountancy Fd Raibing & Other Costs 600 256 600 256 600 180 856 856 780 In 2022 of the cost of g¢nernting Yoluntsry income none was restri¢tsd. Sllpport for hom¢l¢ss ¢hlldren and young people in Sierra Ine 2023 Total 2022 Total Restricted Unreslrieted Food and provisions Educatio Staff Costs Legal, Profe&sional and Statutory Costs Rent Family Support & Fostering Medical. Funeral & Bereavement Motor. travel & subsistcnce RepaiTS, Maintenance & Improvements Cash transfer ¢harges Sundry expenses Office administration & Equipment [anS T¢ land purchase wyitten off Centre & Land purchase & fire victims Tracing & R¢wiification 18.004 3,446 16,117 1,700 18,004 6.428 16,823 1.700 17.644 6.886 14,343 1,462 4,412 200 5,149 1287 3.612 2,938 1.634 260 3,640 42,252 1,132 2,982 706 200 200 3,803 2,882 12,742 2.336 1,508 379 10,540 400 3,803 2,882 12.742 2.496 1,508 379 10,540 160 1.000 1.000 4,048 74.657 78,705 107,851 In 2022, £36.275 of the eXndItUre on support for homeless children and young people in Siena Leon¢ was restricted expenditure. The remaining £71,576 was unrestricted.
ST GEORGE FOUI¥DATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023 Staff costs No staff were employed by the charity during the year. (2022: none.). Any staff costs relats to staff employed by th¢ SR¢rra Leone charity. Trvstees, remuneration 2nd expense pxyments: St George Foundation Ltd is op¢rnt¢d on a t basis. All memb$ of the board of trustees act i an unpaid capa¢ity- No expenses were reimbursed to the trusteeg during the year. (2022.. none.) Investment Quoted Salltander plc 104 Ordinary shares (at valuation when donated) 620 Totsl Investments 2023 620 Toial Inyestffjents 2022 620 Debtors 2023 2022 Tax r¢fimd 8,436 12,229 11,997 8,795 OtheT debtors and prepayments 20.665 20,792 IA)ans re Land Purchase During the year the old loan of £8,500 has been written off, because the land was sold to provide funds for the C¢ntre & land purchase. The new loan of £10.200 is to be WTitten off over 5 years, so has been r¢duc¢d to £8.160. The loan balance is considered to be recoverable. 12
ST GEORGE FOiryDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR EIYDED 31 MARCH 2023 Creditor5- amounts due Ivithln olle year 2023 2022 Short terni loans Other CTeditors & accruals 1,700 1,201 1,700 600 2,901 2,300 Amounts due after one year Short term loans 3,400 6.800 io. Analysis of net assets between ndS Rtstrictsd Fuuds Designated Funds General Funds Total Funds Fixed assets Current assets CuThent liabi12ties Long temi liabilities 8,780 13.869 (2.901) (3.400) 8,780 26,772 (2,901) (3,400) 12,903 Net &ssets 12,903 16,348 29,251 Restri¢t¢d funds 01104122 Ikntome Expenses 31103123 Education/food SFK>nsorship Duke Medical Next Door Lond 5,918 2,531 5,090 3.412 4,048 5,282 1531 5,090 12. Control The ultimate controlling parties are the trustees listed on page l. 13