**REGISTERED NUMBER:1121928**
## **The Danson Foundation**
## **Unaudited Financial Statements**
**31st December 2022**
SD-0211228-1-6
## **The Danson Foundation**
## **Contents of the Financial Statements for the year ended 31st December 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|14|
## **The Danson Foundation**
## **Report of the Trustees for the year ended 31st December 2022**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of 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 Objectives and aims**
The charity's objectives are to apply the income of the trust for the purposes that are exclusively charitable in accordance with the laws of England and Wales. The policies adopted in furtherance of these objectives are at the discretion of the trustees and there has been no change in these during the year.
The aim of the Foundation is to contribute to the quality of life of people by providing grants, loans and nonmonetary support to individuals, institutions and organisations.
The objectives for the year are set out with a view to reviewing and processing applications from individuals and institutions, maintaining a balanced programme and funding projects approved by the board.
The Foundation looks to achieve its strategic aims and carry out its operational objectives of the year through review of all application of grants from individuals and institutions.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Social investments**
Details for the charities social investments are included in note 11 to the financial statements.
## **Grantmaking**
Details for the charity's grant making activities are included in note 5 to the financial statements.
## **ACHIEVEMENT AND PERFORMANCE**
The board of trustees are satisfied with its achievements and performance during the year.
## **FINANCIAL REVIEW**
The Foundation received £55,764 income from its investments during the year. The net movement on funds for the year resulted in a deficit of £1,765,879 leaving total funds, comprising entirely of the unrestricted general fund, of £4,463,318 at 31 December 2022. The deficit arose due to a strategic decision to continue to increase levels of grant making to support charitable organisations and deserving causes, in view of the economic uncertainties faced.
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 capable of generating income equivalent to between three and six month’s normal grant making expenditure. The trustees considers 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. This level of reserves has been maintained throughout the year.
At the year end the charity had temporarily encashed all investments due to volatility in the market. The trustees are currently reviewing their investment strategy.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is an unincorporated trust, constituted under a trust deed dated 12 November 2007 and is a registered charity.
Page 1
## **The Danson Foundation**
## **Report of the Trustees for the year ended 31st December 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Recruitment and appointment of new trustees**
The trustees are appointed by the Board of Trustees and shall consist of such individuals, who in the opinion of the board are interested in the aims and objectives of the trust and who shall be approved and admitted as members. The Trust Deed provides for a minimum of 3 trustees. Each trustee is entitled to hold office for two years, after which period they may put themselves forward for reappointment.
## **Organisational structure**
The Board of Trustees, administers the charity. The board meets at least twice a year and they agree broad strategy and areas of activity for the Foundation, including consideration of grant making, investment, reserves and risk management policies and performance.
## **Induction and training of new trustees**
New trustees meet key officers and trustees, receive a brief history of the Foundation copy Board minutes, a copy of the annual report and accounts, a copy of the governing trust deed and are supplied with charity commissions guidance' The essential trustee: What you know and 'Charities and public Benefit' and encouraged to visit the Charity commissions website for information and attend appropriate external training events.
## **Risk management**
The trustees have assessed the major risks to which the charity is exposed. It has sought advice from external sources to put in place a structure to strengthen its financial, management and operational activities and to ensure up to date accounting and to avoid inappropriate and unsuitable spending. The trustees are satisfied that systems are in place to mitigate exposure to the major risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1121928
## **Principal address**
John Carpenter House John Carpenter Street London EC4Y 0AN
## **Trustees**
M Danson Mrs H M Danson Miss E R E Danson
Unless otherwise stated the above trustees served during the whole of the year and to the date of approval of this report.
## **Independent Examiner**
Smailes Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA
Page 2
## **The Danson Foundation**
## **Report of the Trustees**
**for the year ended 31st December 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Bankers**
Coutts & Co 440 Strand London WC2R 0QS
Approved by order of the board of trustees on 26 October 2023 and signed on its behalf by:
.............................................................. M Danson - Trustee
Page 3
## **Independent Examiner's Report to the Trustees of The Danson Foundation**
## **Independent examiner's report to the trustees of The Danson Foundation**
I report to the charity trustees on my examination of the accounts of The Danson Foundation (the Trust) for the year ended 31st December 2022.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts 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.
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.
Stephen T Bramall BSc., FCA
Smailes Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA
26 October 2023
Page 4
## **The Danson Foundation**
## **Statement of Financial Activities for the year ended 31st December 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Investment management costs
3
**Charitable activities**
4
Supporting charitable causes
Internship programme
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2022**
**Unrestricted**
**fund**
**£**
**55,764**
**30,234**
**1,000,650**
**106,697**
**1,137,581**
**(684,062)**
**(1,765,879)**
**6,229,197**
**4,463,318**|2021
Total
funds
£
64,499
39,353
504,336
106,301
649,990
64,365
(521,126)
6,750,323
6,229,197|
|---|---|---|
The notes form part of these financial statements
Page 5
## **The Danson Foundation**
## **Balance Sheet**
## **31st December 2022**
|Notes
**FIXED ASSETS**
**Investments**
Investments
10
Social investments
11
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
**TOTAL FUNDS**|**2022**
2021
**Unrestricted**
Total
**fund**
funds
**£**
£
**-**
5,891,409
**6,971**
6,971
**6,971**
5,898,380
**4,490,251**
338,810
**(33,904)**
(7,993)
**4,456,347**
330,817
**4,463,318**
6,229,197
**4,463,318**
6,229,197
**4,463,318**
6,229,197
**4,463,318**
6,229,197|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 October 2023 and were signed on its behalf by:
............................................. M Danson - Trustee
The notes form part of these financial statements
Page 6
## **The Danson Foundation**
## **Notes to the Financial Statements for the year ended 31st December 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is 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 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Allocation and apportionment of costs**
Costs that directly relate to specific charitable activities are allocated to that activity.
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and staff costs. They are incurred directly in support of expenditure on the objects of the charity and include project management and other central office costs. Where support costs cannot be directly attributed to particular headings they have been allocated to charitable activities on a basis consistent with use of the resources as determined by the trustees..
## **Social investments**
Social investments are measured at the amount received or paid, with the carrying amount adjusted for any repayments and any accrued interest.
## **Taxation**
The charity is exempt from tax on its charitable activities.
Page 7
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
|**2.**
**INVESTMENT INCOME**
Dividends
Loan interest
**3.**
**INVESTMENT MANAGEMENT COSTS**
**Investment management costs**
Portfolio management|**2022**
**£**
**54,796**
**968**
**55,764**
**2022**
**£**
**30,234**|2021
£
64,466
33|
|---|---|---|
|||64,499|
|||2021
£
39,353|
## **4. CHARITABLE ACTIVITIES COSTS**
|||Grant funding of|Support costs||
|---|---|---|---|---|
||Direct costs|activities (See|(See note 6)||
|||note 5)||Totals|
||£|£|£|£|
|Supporting charitable causes|-|999,450|1,200|1,000,650|
|Internship programme|33,219|71,309|2,169|106,697|
||33,219|1,070,759|3,369|1,107,347|
Page 8
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued**
## **for the year ended 31st December 2022**
## **5. GRANTS PAYABLE**
|Supporting charitable causes
Internship programme
The total grants paid to institutions during the year was as follows:
Action Aid
Akshaya Patra
Anxiety UK
Atlas Foundation
Avenue PTA
AYSO MDSA
Barnet Youth Zone
Beyond Blue
Breast Cancer Now
CALM
Cancer Research UK
Carla Annas
Chasing Rainbows
Chelsea & Westminster
City Harvest
Colindale Food Bank
Comite Int De La
Cooperation Town
Daily Bread Food Bank
Dementia UK
Dove House Hospice
Essex & Herts
Foothold IET
Grace House Community Centre
Highgate School
Hull/York MIND
Imizi Third Party Fund
Intensive Care Society
J Mally Memorial
JDRF International
Lions Club of Hyderabad Greenlands
MAF Australia
Magic Breakfast
MedAid Ukraine
Mental Health
Millford & Vill
New York Blood Centre
Oak Lodge SFA
Oakwood Dog Rescue
Papyrus
PEAS
Rainbow Children's Medicare
Richard HouseTrust
Royal Flying Doctor Service
Royal Free Charity|**2022**
**£**
**999,450**
**71,309**
**1,070,759**
2022
£
2,000
2,000
-
20,000
-
-
5,000
-
31,000
-
1,000
9,748
-
-
-
-
-
12,678
-
-
-
-
2,000
29,097
50,000
-
17,725
-
-
2,033
49,032
4,078
25,000
100,000
-
-
2,033
2,000
-
20,000
218,165
19,937
1,000
2,039
-|2021
£
450,330
62,071
512,401
2021
£
-
-
7,000
1,000
2,635
-
4,078
-
3,000
-
-
1,000
10,000
5,000
5,000
2,036
-
2,030
2,000
2,000
1,000
-
3,600
150,000
2,000
-
10,000
1,033
-
-
-
-
-
5,000
2,000
-
3,000
2,000
10,000
1,000
-
-
-
10,000|
|---|---|---|
Page 9
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued for the year ended 31st December 2022**
## **5. GRANTS PAYABLE - continued**
|Sai Seva Sangh
Sands
SANE
Save the Children
Scottish Veterans
Sea Shepherd
Sealife Trust
Shaw MIND
Sheldrick Wildlife Trust
Small Steps
Special Olympics International
St Annes College
St Francis School
St Oswalds Hospice
The Anna Freud Centre
The Bradfield Foundation
The Brain Tumour
The Old Vic
Thin Green Line Foundation
Tribe Freedom Foundation
Twins Trust
Vivekanand
Werneth Primary Care Centre
Westminster School
Whittington Hospital|81,779
4,085
1,000
-
-
3,000
20,000
-
1,000
-
-
5,000
25,000
20,000
-
5,000
25,039
-
-
2,000
-
1,033
-
100,000
-
4,000
2,000
-
-
10,000
200,000
-
-
1,000
10,800
10,800
-
5,000
-
1,000
-
1,000
4,287
-
980
-
-
20,000
-
10,000
999,450
450,330|
|---|---|
During the year 44 grants totalling £71,309 were paid to individuals under the foundation's intern programme (2021 - 47 grants totalling £62,071).
## **6. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
|Governance
Management
costs
£
£
Supporting charitable causes
**-**
**1,200**
Internship programme
**969**
**1,200**
**969**
**2,400**|Totals
£
**1,200**
**2,169**|
||**3,369**|
Page 10
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued**
## **for the year ended 31st December 2022**
## **6. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
|Supporting
charitable
Internship
causes
programme
£
£
Wages
**-**
**-**
Insurance
**-**
**636**
Training
**-**
**333**
Examiners remuneration
**1,200**
**1,200**
**1,200**
**2,169**|**2022**
Total
activities
**£**
**-**
**636**
**333**
**2,400**
**3,369**|2021
Total
activities
£
**63,796**
**583**
**1,800**
**2,340**
**68,519**|
|---|---|---|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.
## **8. STAFF COSTS**
|Wages and salaries
Social security costs
Pension|2022
£
-
-
-
-|2021
£
53,335
7,660
2,800|
|---|---|---|
|||63,795|
There were no employees in the year. In the prior year no employee earned above £60,000.
The average number of employees in the year was nil (2021: 1).
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
The total income and expenditure reported in the Statement of Financial Activities for the year ended 31st December 2021 related to the unrestricted fund.
Page 11
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued**
## **for the year ended 31st December 2022**
## **10. FIXED ASSET INVESTMENTS**
There were no investment assets outside the UK.
||Listed|
|---|---|
||Investments|
||£|
|**MARKET VALUE**||
|At 1st January 2022|5,891,409|
|Revaluations|(684,062)|
|Disposals|(5,207,347)|
||-----------------|
||-|
|**NET BOOK VALUE**||
|At 31st December 2022|-|
||-----------------|
|At 31st December 2021|5,891,409|
||-----------------|
There were no investment assets outside the UK.
## **11. SOCIAL INVESTMENTS**
|**MARKET VALUE**
At 1st January 2022 and
31st December 2022
**NET BOOK VALUE**
At 31st December 2022
At 31st December 2021|Programme
related
investments
£
**6,971**
**6,971**
6,971|
|---|---|
In 2011 the charity made a loan to The Venture Partnership Foundation Limited (VPF) in support of the Revenue Participation agreement between the registered charity, Riders for Health (RfH) and VPF. During the year no repayment was made leaving an outstanding balance of £6,971.
Page 12
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued**
## **for the year ended 31st December 2022**
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**2022**
**£**
Other creditors
**33,904**
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.22
in funds
£
£
**Unrestricted funds**
General fund
**6,229,197**
**(1,765,879)**
**TOTAL FUNDS**
**6,229,197**
**(1,765,879)**
Net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
**55,764**
**(1,137,581)**
**(684,062)**
**TOTAL FUNDS**
**55,764**
**(1,137,581)**
**(684,062)**
**Comparatives for movement in funds**
Net
movement
At 1.1.21
in funds
£
£
**Unrestricted funds**
General fund
6,750,323
(521,126)
**TOTAL FUNDS**
6,750,323
(521,126)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
64,499
(649,990)
64,365
**TOTAL FUNDS**
64,499
(649,990)
64,365|2021
£
7,993
At
31.12.22
£
**4,463,318**
**4,463,318**
Movement
in funds
£
**(1,765,879)**
**(1,765,879)**
At
31.12.21
£
6,229,197
6,229,197
Movement
in funds
£
(521,126)
(521,126)|
|---|---|
Page 13
continued...
## **The Danson Foundation**
## **Notes to the Financial Statements - continued**
## **for the year ended 31st December 2022**
## **14. RELATED PARTY DISCLOSURES**
In the year goods and services were paid for, on behalf of the charity, by Estel Property Investments Limited, to the value of £2,703 (2021: £nil). Donations were made on behalf of the charity by Estel Property Investments Limited to the value of £19,937 (2021: £nil).
The balance owed to Estel Property Investments Limited at the year end was £22,640, (2021: £nil).
Estel Property Investments Limited is ultimately controlled by Mike Danson, a trustee of the charity.
At the year end an amount of £3,271 (2021: £nil) was owed to the trustees.
Page 14