Charity numbor: 1121932 THE BoKE FAMILY FOUNDATION UNAUDrrED TRUSTEES, REPORT AND FINANCIAL STATÉMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE BOWKErr FAMILY FOUNDATION CONTENTS Reference and Administrntive Detsils of the Charity, its Tntstses and Advisers Trustees. Report Indèpendent EXamineS Rèport ststement of Financlal Activities Balance Sheet Notes lo tho Financial Staternents 7-14
THE BOWKEfT FAMILY FOUNDATION REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustee5 A BovA(ett J 8owkett A M BoNVKett C N Bov4kett Charity registerod number 1121932 Page 1
THE BOWKEfT FAMILY FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together Vth the financia statements of the The Bowkett Family Foundation for the year ended 5 Ayil 2024. Structure. governance and management . Constitution The Bowkett Famity Foundation is a registered charity, number 1121932. and is constituted under a Trust deed. b. Methods of appointment or eleclion of Trustees The management of the charity is the re5ponsibilty of the Trustees are elected and COvOPted under the temis of the Trust deed. objectiv and activities a. Pollcies and objectives The principal object of the charity is to provide support for the underprilileged andlor needy people, especially those related. but not exclusively. to the christian fatth. It also gives to other charitable and needy causes. In setting objectives and planning for activibes, the Trustees have given due consideration to general guidance published by the Charity Commission relating to publTrc benefiL including the guidance 'Public benefit: running a charity (PB2)'. b. Grant4naklng policies The Trustees make grants vthere they believe that their contribution will make a 81 difference and in achieving the principal objective ofthe charity. Page 2
THE BOWKETT FAMILY FOUNDATION TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Financlal review . Going concern After making appropriate enquirres, the Twstees have a reasonable expectstion that the charity has adequate resource5 to continue in operational existence for Ihe foreseeable future. For this reason, they continue to adopt the 90ing concern basis in preparing the financiai statements. Further details regarding the adoption of the going concem basis can be found in the accounting policie5 b. Reserves policy The charity has a reserves policy thereby adequate reserves are rnaintned. taking into account its analysis of future need5 and opportunities. and having regard to expectats'ons of future levels of income and expenditure. The level of reserves and the reserves policy are VIed annualty by the Trustees. At the year end the charity had reserves of £1,179,782 {2023- £1,193,436). Approved by order of the members of the board of Trustees and signed on their behalf by: A Bowkett Trustee Date: 03 Feb 2025 Page 3
THE BOWKEfT FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOwKT FAMILY FOUNDATION Ilhe charity.) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024. RESPONSIBILrriES AND BASIS OF REPORT As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 Cthe 2011 Arf). I report in respect of my examinalion of the chari5 accounts carried out under section 145 of the 2011 Act and in Carrn9 out my examination I have followed the applicable Directions given by the Charity Commission under section 145(51{b) ofthe 2011 ACL INDEPENDENT EXAMINER'S STATEMENT Your attenb.on is draTr to the fact that the charity has prepared the accounts in accordance wth Accounting arKI Reporting by Charities: Statement of Recommended Practice applicable to charlties preparing their account5 in accordance 1th the Financial Reporb"ng Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounling and Reporb'ng by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant rpgulations but has been thIthdra. l understand that this has been done in Order for the accounts to provide a true and fair view in accordance Vth the Generally Accepted Accounting Practice effective for reporting wiods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giwng me cause to believe that in any material respect.. accounting records not kept in respect of the chafity as required by section 130 of the 2011 Act., or the accounts do not accord With those res. or the accounts do not comply wrth the applicable requirements conceming the form and content of accounts set out in the ch8rikn.es (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a Irue and fair wew vthith is not a matter considered as part of an independent examination. I have no concerns and have come across no other rnatters in connection viith the examination to attention should be dravm in this report in order to enable a proper understsnding of the account5 to be reached. This report is made solely to the charitys Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My wrk has been undertaken so that I might state to the charity's Trustees those matters l am required to stste to them in an Independent Examiner's Report and for no other purpose. To the fvllest extent pemiitted by law, I do not accept or assume responsibilty to anyone other than the charity and the charitys Trustees as a body. for my th or for this repo I Vl Signed.. Hazel Young SOPHER + CO LLP Chartered Accountants 5 Elstree Gate Elstree Way 80hamwood Hertford5hire WD6 1JD Dated: lox< FCA Page 4
THE BOWKEfT FAMILY FOUNDATION ST ATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Investments 26,378 26.378 16,022 Total income 26,378 26.378 16,022 Expenditure on: Raising funds Charitable activitres Other expenditure 659 16,888 37 659 642 14,823 (73) 16.888 37 Total expenditurn 17,584 17.S84 15,392 Gains on revaluation and disposal of investment assets (22,448) {22.448) 7.932 Net movefflent In fund5 113,654) {13.654) 8.562 Reconciliation of funds: Total funds brought forknrd Net movement in lunds 1,193,436 (13,654) 1.193.436 {13,6S4) 1,184,874 8.562 Total funds carrled forward 1,179,782 1.179,782 1,193,436 The Staternent of Financial Activitjes indudes all gains and losses recognised in the year. The notes on pages 7 to 14 forni part of these financial staternents. Page 5
THE BOWKEfT FAMILY FOUNDATION BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Flxod assets Investments 10 42S,841 400,000 448,290 400,000 Investrnent property 825,841 848,290 Current assets Cash at bank and in hand 360.620 352,559 360.620 352,559 Creditors.. amounts falling due Y1h1n one year 11 16.6791 (7,413) Net currnnt assets 353,941 345,146 Total assets less current Ilablllt5es 1,179.782 1,193,436 Net assets excluding pension a5Sèt 1,179,782 1.193,436 Total net assets 1,179,782 1,193,436 Charity funds Restricted fijnds Unrestricted fijnds 12 12 1,179,782 1.193,436 Total funds 1,179,782 1,193,436 The financial statements re approved and authorised for issue by the Trustees and signed on their behalf by.. c>4&M A Bowkett Trustee Date: 03 Feb 2025 The notes on pages 7 to 14 form part of these financial Statements. Page 6
THE BOWKETT FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Accounting policies 1.1 Basis of prepardtion of financial statsments The financial statements have been prepared in accordance ryth the Charities SORP (FRS 1021 Accounting and Reporting by Charrttes". Statement of Recommended Practi applicable to charities preparing their accounts in accordan viith the Financial Reporting Standard applicable in the UK and Republ of Ireland {FRS 102) {effective 1 January 20151, the Financial Reporting Standard applicable in the UK and Republic of IlaThd (FRS 1021 and the ChaTities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to prowde a Irue and fairf view. This departure has involved followng the Charities SORP {FRS 102) published on 16 Juty 2014 rather than the Accounting and Rep(w1ing by Chartbes: Statent of Recommended Practice effective from 1 Awil 2005 thich has since been ¥ithdra1. The Bo%M(ett Family Foundation meets the definition of a public benefit entty under FRS 102. Assets and liabilities are Initial recognised at historical cost w transacts'on value unless OtheIse Stated in the relevant accounting policy. 1.2 Fund accountlng General funds are unrestricted fvnds vthich a available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and ¥*thich have not been designated for other purposes. Investrnent income, gains and losses are allocated to the appropriats fund. 1.3 Income Ail inccvne is recognised once the charity has enlitlement to the inc(Yne, it is probable that the income vill be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gfft or deeds of covenant is recognised at the time of the donation. Income tax recoverable in felation to inve5trnent income is recognised at the time the investment income is receivable. Rental income from investment property 15 recognised in the period in lch it is due. 1A Expendlture Expenditure is COgniSed once there is a leg or con5tructFve obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefrts be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activrty. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs invdved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to Ihat activity. Shared costs bthich contribute to more than one activity and support costs which are not attributsble to a single activity are apportioned betPen those activiti'e5 on a basis consistent Vth the use of resources. Central staff costs are allorated on Ihe basis of time spent, and depreGiation charges allocated on the porhon of the asset's use. Page 7
THE BowKE FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies {continued) 1A Expenditure (contlnued) Expendibjre on charitable activitses is incurred on directy undertsking the actP¥itie5 which further the charity's objectives, as as any assouated support Costs. Charitable activities and Govemance costs are costs incurred on the charity's educational operations, including support costs and costs relaling to the governance of the charty apportioned to charitable activities. Al expenditure is inclusive of irrecoverable VAT. 1.$ Investrnents Fixed asset investrnents are a fomi of financial instrument and are intially rognIsed at their transaction cost and subsequentty measured at fair value at the Balance Sheet date. unless the value cannot be measured reliakAy in vthich case it is measured at cost less Impaient. Investment gains and losses, vthether realised or unrealised. are combined and presented as 'Gainsl(Lossesl on investments, in the Statement of Financial Activities. 1.6 Interest recelvable Interest on funds held on deposit is included )hknen receivable and the amount can be measured reliably by the charity., this is nomally upon notificab'on of the interest paid or payable by the institution ith thom the funds are deposited. 1.7 Cash at bank and in hand Cash at bank and in hand indudes cash and short-temi highly liquid investments Vth a short maturity of three months or less from the date of acquistb'on or opening of the deposit or similar account. 1.8 Liabilities and provisions Liabilibe5 are recognised vknen there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefft Vail be required in settlement, and the amount of the settlement can be ests'mated reliably. abiltb'es are recognised at the amount that the charity antr'cipates it wll pay to settle the debt or the amount rt has received as advanced payments for the goods or services it must provide. Provision5 are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflecis the nsks specific to the liability. The unwinding of the discount is recognised in the Slatement of Financial Activtbes as a finance cosL Page 8
THE BOWKEfT FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Inveslment Incomo Unrestricted funds 2024 Totsl funds 2024 Dividends and distribulions Bank interest 15,436 10,942 15,436 10,942 26,378 26,378 Unrestricted nds 2023 Total funds 2023 Dividends and distributions Bank interest 14,583 1,439 14,583 1,439 16,022 16,022 Expenditure on Alslng funds Fundrdising direct Costs UnTestrlctsd funds 2024 Total funds 2024 Investment portft)lio service charges 659 659 Page 9
THE BOWKETT FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Expenditure on rdislng funds (continued) Fundrnislng direct costs (continued) Unrestricted funds 2023 Totsl fvnds 2023 Investrnent portfolio 5erJice charges 642 Analysis of expendIre on charitablo activities Summary by fund ty Unrnstricted funds 2024 Total 2024 Charitsble funding 16,888 16,888 Unrestricted funds 2023 Total 2023 Charitable funding 14,823 14,823 Other expenditure Unrestricted funds 2024 Total funds 2024 Exthange differenGe5 37 37 Page 10
THE BOWKErr FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Other expenditure (Gontinued) Unrestricted funds 2023 Totsl funds 2023 Exchange differences (73) (73) Analysis of expendlturo by activities Support costs 2024 Total funds 2024 Dlrect costs 2024 Charitable funding 14,019 2.868 16,887 Support costs 2023 Total funds 2023 Direct costs 2023 Charitable funding 13.023 1,800 14,823 Analysis of direct costs Charitable funding 2024 Total funds 2024 Rates Building IrkS Light and heat Telephone Donations 1,754 332 112 1.754 332 363 363 11.458 11,458 14,019 14.019 Page11
THE BOWKETT FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expenditure by actlvllles (Continued) Analysls of direct Costs Icontinued) Charitable funding 2023 Total funds 2023 Rates Light and heat Telephone Donations 1,672 1,616 289 1,672 1,616 289 13.023 13,023 Analysig of support costs Charitable funding 2024 Total funds 2024 Accountsncy fees 2,868 2,868 Charitable funding 2023 Total funds 2023 Accountancy fees 1,800 1,800 Independent examinar's remuneration 2024 2023 Fees payable to the charity5 independent examiner for the independent examination of the charrtls annual accounts 480 Page 12
THE BOWKErr FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Tnjstees, vemunerdtion and èxpenses During the year. no Trustees received any remuneration or other benefrts (2023- £NIL). During the year ended 5 April 2024. no Trustee expenses have been inojrred (2023 - £NIL). Inveslment property Freehold investment proporty Valuation At 6 April 2023 400,000 At 5 April 2024 400.000 The 2024 valuations Vre made by the Trustees. on an open marf(et value for existing use basis. 10. Fixed asset investments Listed Investments Cost or valuation At 6 April 2023 Revaluation5 448.290 (22,448) At 5 April 2024 42S,841 Net book value At 5 April 2024 425.841 At 5 April 2023 448,290 Page 13
THE BOWKETT FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. Creditors: Amounts falllng due within one year 2024 2023 (Xher creditors Accfuals and deferred income 4,184 2,495 4,184 3,229 6,679 7,413 12. Statement of funds statement of ndS - curront year Balance at 6 Aprm 2023 Galnsl Balance al 5 (Losses) Aprll 2024 Income Expendityre Unrestricted funds General Funds - all funds 1.193.436 26.378 117,584) (22,448) 1,179,782 Slatement of funds - prlor year Balance at 6 April 2022 Gainsl Balance at (Losses) 5 April 2023 Incorne Expenditure Unrestricted furHts General Funds- all funds 1,184,874 16,022 (15.392) 7,932 1.193,436 Page 14