THE DAVID FAMILY FOUNDATION (A company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Company Number: 06414484 (England and Wales) Charity Number: 1123198 (England and Wales)
THE DAVID FAMILY FOUNDATION
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Trustees' Report | 2 - 6 |
| Independent Examiners' Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Cashflow | 10 |
| Notes to the Financial Statements | 11 - 22 |
THE DAVID FAMILY FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number
1123198
Registered Company Number 06414484
Registered Office/Principal Office
Building One 373 Kennington Road Kennington London SE11 4PT
Trustees
Jonathan David (Chairman) David Emerson Anna-Lisa Wright Fiona Ellis (appointed 12 December 2023)
Independent Examiner
K C Fisher BA FCA CTA ℅ Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey KT6 7AL
1
THE DAVID FAMILY FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006 present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
INTRODUCTION
The David Family Foundation was incorporated on 31 October 2007 and was established to support the charitable interests of the late Doreen David's children. The Company was registered as a Charity on 14 March 2008.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The David Family Foundation is a company limited by guarantee and has no share capital. It is constituted under its Memorandum and Articles of Association dated 31 October 2007. It is a registered company under company number 06414484, and a registered charity under Charity Commission reference number 1123198.
Recruitment and Training of Trustees
New trustees are given appropriate induction and training on appointment to the board.
Organisational Structure
The trustees are ultimately responsible for the policies, activities and assets of the charity. The trustees meet once a year to review the annual accounts, policies and procedures in respect of internal financial controls, and the policy in relation to investments.
Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those risks related to the operation and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks, although it is recognised that systems can only provide reasonable, not absolute, assurance. They have identified the following risks:
| Risk identified | Action taken to mitigate the risk |
|---|---|
| Investments will drop in value | Trustees have appointed a professional firm to manage the investments |
| Donations made will not be spent in a manner the trustees would like |
Trustees actively review the donation and ask for updates and reports |
Key Management Personnel
Fiona Ellis was welcomed as a new trustee and joined the Board at the AGM on 12 December 2023. The trustees consider that the board of trustees comprises the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis. All trustees give of their time freely and no director received remuneration in the year. Details of Directors' expenses and related party transactions are disclosed in note 10 to the accounts.
2
THE DAVID FAMILY FOUNDATION
Governance
The trustees retained as auditors Kingston Burrowes (formerly Myrus Smith).
The trustees reconfirmed that the foundation existed for the long term and could manage occasional temporary periods of higher spending when appropriate. However, having increased spending in response to the pandemic, during the year there was a return to the previous level of spending, and which would broadly maintain the level of the endowment during a period of further potential volatility.
Trustees continued to review the foundation’s legacy and priorities, and with the benefit of the greater capacity of an additional trustee, further strategic discussions were planned for 2024, with the intention to maintain the flexibility to respond to new priorities, but potentially enabling a focus across fewer areas.
Investment Policy and Performance
The charity has power to invest in such assets as it sees fit. The trustees have appointed UBS as investment managers to manage the majority of the charity assets, with a brief to adopt a medium risk investment strategy whilst providing revenue for the charity's current needs while enhancing income and capital growth over the long term.
The trustees have previously switched the investments to a Sustainable Investment [SI] portfolio which has higher ESG benefits. The trustees confirmed that it is appropriate to stay in the SI portfolio as a long-term strategy, and that the SI and ESG strategies better reflect the values and ethics of the foundation. This policy is reviewed on an annual basis, as well as whether the particular current SI strategy is the right one for the foundation as others emerge.
Trustees had aimed to maintain an annual spending target of 5% of the original endowment, to ensure that the value of the endowment, with an allowance for inflation, would not be diminished long term. This provides a budgeting guide for each of four grant-making meetings a year, and allows for some longerterm commitments. Trustees have the power to spend out, as agreed, during any particular period. This could also be assessed against the annual level of the endowment, with adjustments then made to spend accordingly, either up or down, although on an ongoing basis the foundation is an in-perpetuity fund, retaining the core of the endowment.
After the previous downturn, as anticipated the trustees saw a recovery in value of the investments, and the funds carried forward at 31 December 2024 of £5,892,880 sit quite comfortably in line with the initial endowment, with a (conservative) inflation buffer of roughly 10% against the endowment value. The trustees are satisfied with the investment performance during the year.
The investment strategy and spending targets are reviewed annually at the trustees’ meetings. Spending progress during the year is reviewed at the trustees’ quarterly meetings. Recognising the almost unlimited opportunities of charitable spending open to them, the trustees intend that the strategic discussions planned for the coming year should include consideration of the longer-term future of the foundation, and of its aims & priorities.
FINANCIAL REVIEW
During the year ended 31 December 2024, income was £171,258 (2023: £71,863) and net expenditure was £677,781 (2023: £726,652). The charity also recognised a gain on the market value of its investments of £590,196 (2023: £815,720).
Unrestricted Funds as at 31 December 2024 totalled £5,892,880 (2023: £5,839,207).
Reserves Review Including Policy
At the balance sheet date, the Trust had an unrestricted fund of £5,892,880 (2023: £5,839.207). The charity is mainly reliant on its return from investments to fund its charitable aims, and therefore has a reserves policy which aims to provide sustainable funds for the future.
3
THE DAVID FAMILY FOUNDATION
OBJECTIVES, AIMS AND ACTIVITIES
Objects
The objects of the charity are:
-
1) Making grants and bursaries to other UK charities for the purpose of advancing education, art, culture and environmental protection, and relieving and advancing those in need by reason of disability.
-
2) Promoting art by making available gallery and studio space to artists; & creating opportunities for artists to explore their creativity without boundaries at key stages of their careers.
-
3) Supporting people with learning and educational difficulties through existing charities.
-
4) Supporting research projects into the use of alternative and renewable energy sources.
-
5) Supporting women’s services, young adults, homelessness and the social needs of older people.
The trustees assess the impact of their funding by receiving reports from grantees and assessing their impact annually.
Grant making policy
The charity made grants in the year of £598,828 (2023: £646,001).
Grants are made on an annual basis by the trustees in accordance with the objectives of the charity. The charity has no long-term commitments.
While trustees confirmed the following priorities for support, it was understood that these would be reviewed during 2024:
-
i) environmental issues including peat bogs and grassland,
-
ii) mobility equipment for disabled people which the NHS was unable to provide.
-
iii) welcoming applications from registered charities around the themes of: LGBTQ+ support; benefitting people from the global majority; for women’s support; and for refugees.
During the year the grants we approved included:
-
£64,800 via the Big Give which was then match funded;
-
A multi-year grant for the PACE school, Aylesbury;
-
For tree disease research, ancient woodland, and education on the environment through the RHS;
-
Harper Adams University for an innovative educational engineering programme;
-
Continuing our longer-term support for bursaries with the Institute of Electrical Engineering (IEE) with which Gerald David had been much involved;
-
Continuing ongoing support for the Queer Youth Art Collective;
-
Ongoing support for the Guildhall School of Music & Drama, which was continued in memory of the sister and brother-in-law of Doreen David.
Going Concern
The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the Trust's ability to do so.
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THE DAVID FAMILY FOUNDATION
Fundraising
The charity does not undertake any public fundraising and is not therefore registered with the Fundraising Regulator.
PUBLIC BENEFIT STATEMENT
The trustees have referred to the Charity Commission's guidance on Public Benefit when reviewing their aims and objectives and planning their future activities. The trustees believe that their strategic grantmaking activities will meet the objective of benefiting a wide cross-section of the community. The trustees will ensure that a robust monitoring system is put in place to establish the benefit derived from each grant, in order to be confident of meeting their public benefit obligations.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the 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.
Approved by the Trustees and signed on behalf of the Trustees by J R H David
Date: 18 September 2025
5
THE DAVID FAMILY FOUNDATION
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE DAVID FAMILY FOUNDATION
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024 which are set out on pages 7 to 20
.
Responsibilities and basis of report
As the charity trustees of the company (and also 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 Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 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 examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; 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 applicable to 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 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.
K.C. Fisher FCA ℅ Kingston Burrowes Audit 308 Ewell Road Surbiton Surrey KT6 7AL
2025
6
THE DAVID FAMILY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | |||
| Total | Total | ||
| Funds | Funds | ||
| £ | £ | ||
| INCOME FROM: | |||
| Donations | 81,678 | - | |
| Income from Investments | 89,580 | 71,863 | |
| ───── | ───── | ||
| Total Income | 2 | 171,258 | 71,863 |
| ───── | ───── | ||
| EXPENDITURE ON: | |||
| Raising funds | 3 | 58,802 | 65,502 |
| Charitable activities | 4 | 618,979 | 661,150 |
| ───── | ───── | ||
| Total Expenditure | 677,781 | 726,652 | |
| ───── | ───── | ||
| Net (expenditure)/income before | |||
| gains and losses on investments | (506,523) | (654,789) | |
| Other recognised gains and losses: | |||
| Net gains/(losses) on investments | 560,196 | 815,720 | |
| ─────── | ─────── | ||
| 53,673 | 160,931 | ||
| NET MOVEMENT IN FUNDS | |||
| Total funds brought forward at 1 January 2024 | 5,839,207 ─────── |
5,678,276 ─────── |
|
| Total funds carried forward at 31 December 2024 | 11 | £5,892,880 ═══════ |
£5,839,207 ═══════ |
All activities are continuing. There are no recognised gains or losses than as disclosed above
The Statement of Financial Activities incorporates an income and expenditure account.
The notes on pages 11 to 21 form part of these financial statements.
7
THE DAVID FAMILY FOUNDATION
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| FIXED ASSETS | |||||
| Investments | 6 | 5,962,916 | 5,965,360 | ||
| CURRENT ASSETS | |||||
| Cash | 111,185 | 131,706 | |||
| Debtors | 7 | 170 | - | ||
| ───── | ───── | ||||
| 111,355 | 131,706 | ||||
| ───── | ───── | ||||
| LESS: CURRENT LIABILITIES | |||||
| Creditors: amounts falling due within one | 8 | 136,391 | 200,859 | ||
| year | ───── | ───── | |||
| NET CURRENT LIABILITIES | (25,036) | (69,153) | |||
| LESS: NON-CURRENT LIABILITIES | |||||
| Creditors: amounts falling due within more | (45,000) | ||||
| than one year | 9 | (57,000) | |||
| ────── | ────── | ||||
| NET ASSETS | £5,892,880 | £5,839,207 | |||
| ══════ | ══════ | ||||
| REPRESENTED BY | |||||
| Unrestricted Funds | 11 | 5,892,880 | 5,839,207 | ||
| Designated Fund | - | - | |||
| ────── | ────── | ||||
| £5,892,880 | £5,839,207 | ||||
| ══════ | ══════ |
For the financial year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime .
The financial statements were approved and authorised for issue by the Board of Trustees and were signed below on its behalf by J R H David
Date: 2025
The notes on pages 11 to 21 form part of these financial statements.
8
THE DAVID FAMILY FOUNDATION
STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | ||||
| £ | £ | |||
| Cash used in operating activities | a | (583,173) | (554,585) | |
| ────── | ────── | |||
| Capital expenditure & financial investment | ||||
| Purchase of investments | (1,436,026) | (1,152,487) | ||
| Sale of Investments | 2,001,257 | 1,708,898 | ||
| (Decrease)/increase in investment portfolio cash | (2,579) | 51,567 | ||
| ────── | ────── | |||
| 562,652 | 607,978 | |||
| ────── | ────── | |||
| (20,521) | 53,393 | |||
| (Loss) on currency | - | - | ||
| ────── | ────── | |||
| Increase/(decrease) in cash at bank and on deposit | (20,521) | 53,393 | ||
| Cash at bank and on deposit at beginning of year | 131,706 | 78,313 | ||
| ────── | ────── | |||
| Cash at bank and on deposit carried forward | £111,185 | £131,706 | ||
| ══════ | ══════ | |||
| Note to Statement of Cash Flows | 2024 | 2023 | ||
| £ | £ | |||
| a | Reconciliation of net income/(expenditure) to | |||
| net cash outflow from operating activities | ||||
| Net (expenditure)/income | (506,523) | (654,789) | ||
| Increase/(decrease) in creditors | (76,486) | 100,041 | ||
| Decrease/(Increase) in debtors | (170) | 163 | ||
| ────── | ────── | |||
| £(583,173) | £(554,585) | |||
| ══════ | ══════ |
9
THE DAVID FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
(a) Basis of preparation
The financial statements have been prepared in accordance with 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) - (Charities SORP 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The David Family Foundation meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The David Family Foundation is a private company limited by guarantee and registered in England and Wales (Company Number: 06414484).
The registered address is 5 New Street Square, London, EC4A 3TW.
(b) Going Concern
The Board of Trustees is of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties regarding the Trust's ability to do so.
(c)
Income recognition
Income arising from investments and donations is recognised once the charity has become entitled to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
(d)
Expenditure
Expenditure is included on an accruals basis. Expenditure is recognised when there is a legal or constructive obligation to transfer assets, the amount can be measured reliably, and that it is probable that payment will be made.
Grants payable are charged in the year which the offer is conveyed to the recipient except where the grant is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled. Grants offer subject to conditions that have not been met at the year-end are noted as a commitment but not accrued expenditure.
Governance costs comprise costs associated with complying with constitutional and statutory requirements.
(e)
Investments
Listed investments are included at closing mid-market value at the balance sheet date. Any gains or losses on revaluation are taken to the Statement of Financial Activities. The trustees do not believe the investment mid-market value are materially different to bid-market values which is required under FRS102.
(f)
Foreign currency
The charities functional and presentation currency is pound sterling. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the Statement of Financial Activities.
10
THE DAVID FAMILY FOUNDATION
1 Accounting Policies (continued)
(g) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
(h) Estimates and judgements
-
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Trustee's best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Trustees do not consider there to be any material estimates and judgements.
-
(i) Cash and cash equivalents Cash and cash equivalents includes cash and short term highly liquid investments with short term maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(j) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.
| 2024 | 2023 | ||
|---|---|---|---|
| 2 | Analysis of Total Income | ||
| £ | £ | ||
| Donations Received | 81,678 | - | |
| Dividends and interest | 87,639 | 68,993 | |
| Interest on cash deposits | 1,941 | 2,870 | |
| ───── | ───── | ||
| 171,258 | 71,863 | ||
| ═════ | ═════ | ||
| 2024 | 2023 | ||
| 3 | Analysis of Raising Funds | ||
| £ | £ | ||
| Investment management fees | 58,802 | 65,502 | |
| ═════ | ═════ |
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THE DAVID FAMILY FOUNDATION
4 Analysis of Charitable Activities
During the year to 31 December 2024 the Charity made grants totalling £598,828 (2023: £646,001). Grants are listed below.
| Grants are listed below. | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accuro | 3,000 | 0 |
| ActionAid | 0 | 8,000 |
| Action Syria | 5,000 | 0 |
| Afasic | 3,000 | 0 |
| Age Concern Barnstaple | 2,000 | 0 |
| Age UK | 0 | 5,000 |
| Amphibian & Reptile Conservation Trust | 2,000 | 0 |
| Amy Winehouse Foundation | 10,000 | 0 |
| Apopo Uk | 0 | 2,000 |
| Arts in healthcare | 5,000 | 0 |
| BAND Limited | 0 | 2,500 |
| Bath Institute for Rheumatic Disease | 0 | 2,000 |
| Bath Medical Museum | 0 | 500 |
| Batten Disease Family Association | 1,000 | 0 |
| Beaver Trust | 3,000 | 0 |
| Bede House | 0 | 5,000 |
| Berkshire, Buckinghamshire & Oxfordshire Wildlife Trust | 0 | 3,500 |
| Beyond Autism | 0 | 5,000 |
| Big Give Trust | 52,500 | 64,800 |
| Bishopswood Village Hall | 7,000 | 0 |
| Blesma | 1,500 | 3,000 |
| Bletchley Youth Centre | 0 | 3,500 |
| Bolton Deaf Society | 1,000 | 0 |
| Braid Health & Wellbeing | 0 | 2,000 |
| Braille Chess Association | 0 | 1,000 |
| Braintree CAB | 0 | 5,000 |
| Branch Out Together | 3,000 | 0 |
| Brave Futures | 0 | 3,500 |
| The Bren Project | 1,000 | 0 |
| Bridgend Centre | 1,000 | 0 |
| Brigstow Project | 5,000 | 0 |
| Brighton Womens Centre | 5,000 | 0 |
| Bristol Ensemble | 0 | 2,000 |
| Bristol Refugee Rights | 0 | 7,500 |
| British Dyslexia Association | 2,000 | 0 |
| Building for the Future | 0 | 3,000 |
| Bus Shelter MK | 5,000 | 0 |
| Butterfly Trust | 0 | 1,000 |
| CAB Swale | 3,000 | 0 |
| Calibre Audio Library | 5,000 | 4,751 |
| Campaign against Living Miserably | 5,000 | 5,000 |
| Cancer Support | 0 | 2,000 |
| Canine Concern | 3,000 | 0 |
| Cardiac Rehab | 0 | 2,000 |
| ───── | ───── | |
| Balance carried forward | 134,000 | 143,551 |
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THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 134,000 | 143,551 |
| Care for Carers | 2,000 | 3,000 |
| Carers UK | 5,000 | 0 |
| Caring Together | 0 | 3,000 |
| CASPA | 0 | 5,000 |
| Castle Point Social Care | 2,000 | 0 |
| Cauldwell Childrens Society | 2,000 | 0 |
| Cavernoma Alliance | 2,000 | 0 |
| Cerebral Palsy Cymru | 5,000 | 0 |
| Cerebral Palsy Plus | 2,000 | 0 |
| Challengers | 1,000 | 0 |
| Changing Tunes | 0 | 2,000 |
| Chapter Mental Health | 2,000 | 0 |
| Charlie Waller Trust | 5,000 | 0 |
| Chiltern MS Centre | 0 | 5,000 |
| Classic Fest | 5,000 | 0 |
| Clean Rivers Trust | 3,000 | 0 |
| Climbing Out | 3,000 | 0 |
| Compass | 0 | 3,000 |
| Concern Worldwide | 2,000 | 0 |
| Connect Support | 0 | 2,000 |
| Contact a Family | 5,000 | 0 |
| Cosgrove Care | 3,000 | 0 |
| Countryside Regeneration Trust | 0 | 1,000 |
| Creighton Centre | 3,000 | 0 |
| Crew 2000 (Scotland) | 3,000 | 0 |
| Crossroads Care | 3,000 | 0 |
| Cued Speech | 0 | 2,000 |
| Curiosity Collective | (2,000) | 2,000 |
| Dash Arts | 0 | 2,000 |
| Dean & Cauvin YPT | 2,000 | 0 |
| Demand | 0 | 2,000 |
| Designability | 0 | 3,000 |
| Designmakers | 2,000 | 0 |
| Disability Advice Service | 0 | 5,000 |
| Disability Information Bureau | 0 | 2,000 |
| Disabled Sailors Association | 0 | 2,000 |
| Ditch The Label | 2,500 | 0 |
| Doctors of the World | 0 | 2,000 |
| Dogs for Autism | 1,000 | 0 |
| Drake Music | 5,000 | 0 |
| Dressability | 2,000 | 0 |
| Dyspraxia Foundation | 0 | 3,000 |
| Eastside Community Trust | 2,000 | 0 |
| Edge Housing Oxford | 5,000 | 0 |
| Edinburgh Headway | 2,000 | 2,000 |
| Endangered Species Protection Agency | 5,000 | 0 |
| Engineering Development Trust | 5,000 | 0 |
| ───── | ───── | |
| Balance carried forward | 223,500 | 194,551 |
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THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 223,500 | 194,551 |
| English Symphony Orchestra | 1,000 | 0 |
| Enterprising Youth Education | 3,000 | 0 |
| Epilepsy Action | 0 | 5,000 |
| Farmability | 3,000 | 0 |
| Fetlor Youth Club | 0 | 1,000 |
| Fife Carers Centre | 1,000 | 0 |
| Fields In Trust | 5,000 | 0 |
| Fife Young Carers | 0 | 3,000 |
| Framlingham Area Youth Action | 500 | 0 |
| Freedom Community Alliance | 3,000 | 0 |
| Forelands School | 2,000 | 0 |
| Frozen Light | 0 | 3,000 |
| Freshwater Biological Association | 0 | 3,000 |
| Futures Theatre Co | 5,000 | 0 |
| Future Youth Zone | 3,000 | 0 |
| The Garage Norwich | 0 | 2,000 |
| Gendered Intelligence | 5,000 | 0 |
| GL11 Community Project | 0 | 2,000 |
| Global Canopy | 3,000 | 0 |
| GRAB Trust | 0 | 3,000 |
| Greener & Cleaner | 0 | 2,000 |
| Grove Adventure Playground | 0 | 3,000 |
| Grove Cottage | 0 | 5,000 |
| Guildhall School of Music | 10,000 | 10,000 |
| The Hamlet | 3,000 | 0 |
| Hands Up Foundation | 0 | |
| Handicapped Childrens Action Group | 0 | 2,000 |
| Ghnads Up | 0 | 5,000 |
| Happy Days | 0 | 3,000 |
| The Harbour | 2,000 | 0 |
| Harper Adams Motorsport Engineering | 32,000 | 31,700 |
| Headway | 1,000 | 1,000 |
| Heal and Toe Charity | 0 | 1,000 |
| Health in Mind | 3,000 | 0 |
| Hearts and Minds | 0 | 2,000 |
| Helen Arkell Dyslexia | 0 | 1,000 |
| Helm | 0 | 3,000 |
| Helpful Hounds | 1,000 | 0 |
| Home Link Family Support | 0 | 5,000 |
| Home Start UK | 0 | 2,000 |
| Hope For Justice | 2,000 | 0 |
| Hour Community | 3,000 | 0 |
| Institutes of Engineering and Technology | 11,000 | 11,000 |
| Interact Stroke Support | 0 | 3,500 |
| International Otter Survival Fund | 0 | 5,000 |
| Kelly Foundation | 0 | 2,000 |
| ───── | ───── | |
| Balance carried forward | 326,000 | 314,751 |
14
THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 326,000 | 314,751 |
| Khulisa | 0 | 5,000 |
| Kindred | 1,000 | 0 |
| Live Music | 0 | 2,000 |
| LEAF | 3,000 | 0 |
| Leeds Mencap | 0 | 3,000 |
| Lewis Manning Hospice | 2,000 | 0 |
| LHM 360 | 3,000 | 0 |
| Light up learning | 2,000 | 0 |
| Linda Tremble Foundation | 0 | 2,000 |
| Lindengate | 0 | 3,000 |
| Liquid Vibrations | 1,000 | 2,000 |
| Literary & Philosophical society | 0 | 5,000 |
| Little Ouse Headwaters Project | 2,000 | 0 |
| Living Options Devon | 0 | 2,000 |
| London School of Hygiene & Tropical Medicine | 0 | 10,000 |
| Love Music | 3,000 | |
| Lunch On The Run | 3,000 | 0 |
| MACC SUSO | 0 | 2,000 |
| Maggies | 2,000 | 2,000 |
| Magic Breakfast | 5,000 | 0 |
| Mahadevi Yoga Centre | 2,000 | 0 |
| Making Space | 3,000 | 0 |
| MAYK | 5,100 | 0 |
| Mayors Fund | 0 | 7,000 |
| Medair | 5,000 | 0 |
| Mencap | 0 | 5,000 |
| Merans Kirk Helping Hands | 0 | 2,000 |
| MedEquip4Kids | 0 | 2,000 |
| Mental Health Innovations | 2,000 | 0 |
| Moira Anderson Foundation | 3,000 | 3,000 |
| Money Advice Scotland | 3,000 | 0 |
| Moorland Mousie project | 0 | 2,000 |
| Motherwell Cheshire | 3,000 | 0 |
| Multiple Sclerosis Society | 0 | 1,000 |
| Musicall | 1,000 | 0 |
| my AFK | 2,000 | 0 |
| My Life My Choice | 0 | 1,500 |
| NACOA | 5,000 | 0 |
| National Forest company | 5,000 | 0 |
| National Museums Liverpool | 2,000 | 0 |
| New Life Nyambene | 0 | 5,000 |
| North London Hospice | 0 | 2,000 |
| Northdale | 0 | 2,000 |
| Northwich Multisports | 0 | 1,000 |
| NSPCC | 5,000 | 5,000 |
| The Nucleo project | 0 | 1,000 |
| OCD Action | 2,000 | 0 |
| ───── | ───── | |
| Balance carried forward | 398,100 | 395,251 |
15
THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 398,100 | 395,251 |
| Omega | 5,000 | 0 |
| One Parent Families | 1,500 | 1,500 |
| Open Country | 3,000 | 0 |
| One25 | 3,000 | 0 |
| Opera Holland Park | 0 | 2,000 |
| Ormiston Families | 3,000 | 0 |
| OSF Sport Foundation | 0 | 1,000 |
| Oxford School of Drama | 0 | 5,000 |
| PACE | 0 | 50,000 |
| Pain concern | 2,000 | 0 |
| Parenting Mental Health | 3,000 | 6,000 |
| PECAN | 0 | 2,000 |
| Phoenix Enterprises | 0 | 3,000 |
| Plan International UK | 0 | 3,000 |
| Pleasance Theatre | 0 | 2,000 |
| Polar Academy | 2,000 | 0 |
| Porchlight | 2,500 | 0 |
| Positive East | 2,000 | 0 |
| Prickles Hedgehog Rescue | 0 | 2,000 |
| Prison No way | 0 | 5,000 |
| Prisoners Advice Service | 5,000 | 0 |
| Prisoners Education Trust | 5,000 | 10,000 |
| PSPA | 2,000 | 0 |
| Rabble Theatre | 3,000 | 0 |
| Raze Collective | 0 | 7,250 |
| RHS Wisley School | 20,000 | 20,000 |
| Refuge | 10,000 | 0 |
| Refugee Education | 5,000 | 0 |
| Regal Theatre, Minehead | 2,500 | 0 |
| Resolve West | 0 | 2,000 |
| Retina UK | 1,000 | 0 |
| ReWork | 0 | 1,000 |
| Roseberry Centre | 1,000 | 0 |
| Roses Theatre | 3,000 | 0 |
| Rossendale Trust | 2,000 | 0 |
| Royal Hospital for Neuro Disability | 3,000 | 0 |
| Royal Medical Benevolent Fund | 0 | 2,000 |
| Royal Voluntary Service | 3,000 | 0 |
| Safe Families | 0 | 2,000 |
| Science & Media Museum | 0 | 10,000 |
| Scope | 0 | 5,000 |
| Scottish Adoption & Fostering | 5,000 | 0 |
| Scottish Marine Society | 0 | 3,000 |
| Scottis Pantry Network | 3,000 | 0 |
| SEAMAB | 0 | 6,000 |
| Seashell Trust | 3,000 | 0 |
| Sense | 0 | 2,000 |
| ───── | ───── | |
| Balance carried forward | 501,600 | 548,001 |
16
THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 501,600 | 548,001 |
| The Shed | 2,000 | 0 |
| Shelter | 0 | 5,000 |
| Shift.ms | 5,000 | 0 |
| Sick! Productions | 0 | 1,000 |
| Sing Inside | 5,000 | 0 |
| Skills for People | 5,000 | 00 |
| Solace Womens Aid | 0 | 5,000 |
| Sofa Project | 0 | 3,000 |
| SOS UK | 5,000 | 0 |
| Soundabout | 0 | 3,000 |
| Southall Black Sisters | 0 | 2,000 |
| Spark Livingston | 2,000 | 0 |
| Special Olympics | 3,000 | 0 |
| Strongbones | 1,000 | 2,000 |
| St Christophers Fellowship | 5,000 | 00 |
| Stockdale | 1,500 | 0 |
| Stonewall | 0 | 10,000 |
| Stepping Stones | 0 | 2,000 |
| Stirling Carers Centre | 1,000 | 0 |
| Style Acre | 3,000 | 0 |
| Sunderland Womens Charity | 0 | 2,000 |
| Sunrise Partnership | 0 | 3,000 |
| Sunshine Wishes | 0 | 1,000 |
| Suzy Lamplugh Trust | 3,000 | 0 |
| Tall Ships Trust | 6,000 | 0 |
| Teach the Future | 2,000 | 0 |
| Team Domenica | 3,000 | 0 |
| Tender | 5,000 | 5,000 |
| Thornberry Animal Sanctuary | 0 | 1,000 |
| Time Out Group | 0 | 3,000 |
| Tinnitus UK | 0 | 2,000 |
| Total Insight Theatre | 1,000 | 1,000 |
| Tourettes Scotland | 2,000 | 0 |
| Trussel Trust | 5,000 | 0 |
| The Two Moors Festival | 2,000 | 0 |
| UCLH | 10,000 | 5,000 |
| UNICEF | 0 | 5,000 |
| University College London Slade | 0 | 1,000 |
| Vine Counselling Services | 3,000 | 0 |
| Warwick Vision | 2,500 | 0 |
| Wellspring Counselling | 0 | 5,000 |
| Whirlow Hall Farm | 0 | 1,000 |
| Whizz Kidz | 4,000 | 3,000 |
| Willow Foundation | 1,000 | 1,000 |
| Wiltshire Air Ambulance | 0 | 2,000 |
| Winchester & District Young Carers | 5,228 | 0 |
| Womens Aid Federation | 0 | 10,000 |
| Womens Work Lab | 0 | 5,000 |
| ───── | ───── | |
| Balance carried forward | 592,828 | 643,001 |
| ───── | ───── |
17
THE DAVID FAMILY FOUNDATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| 592,828 | ||
| Balance brought forward | 643,001 | |
| YMCA East Surrey | 0 | 2,000 |
| Yorkshire Cat Rescue | 2,000 | 0 |
| Young Classical Artists | 2,000 | 0 |
| Young and Free | 2,000 | 0 |
| Young People v Arthritis | 0 | 1,000 |
| ───── | ───── | |
| Charitable donations | 598,828 | 646,001 |
| Governance costs (note 5) | 20,151 | 15,149 |
| ───── | ───── | |
| 618,979 | 661,150 | |
| ═════ | ═════ |
18
THE DAVID FAMILY FOUNDATION
| 5 | Analysis of Governance Costs | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Accountancy fees | 1,590 | 1,515 | |
| Auditor's fees/Examiner’s fees | 1,590 | 1,515 | |
| Legal fees | 3,000 | 13 | |
| Bank charges | 397 | 316 | |
| Admin fees | 1,621 | 1,514 | |
| Bookkeeping | 10,823 | 9,913 | |
| Meeting costs | 1,094 | 363 | |
| Trustees expenses | 36 | - | |
| ──── | ──── | ||
| 20,151 | 15,149 | ||
| ════ | ════ | ||
| The | re were nil employees in the year ending 31 December 2024 (2023 : 0) | ||
| 6 | Investment Assets | 2024 | 2023 |
| £ | £ | ||
| UK Listed Investments | 5,954,136 | 5,959,160 | |
| Cash held as part of investment portfolio | 8,780 | 6,200 | |
| ────── | ────── | ||
| 5,962,916 | 5,965,360 | ||
| ══════ | ══════ | ||
| Market Value brought forward | 5,965,360 | 5,757,618 | |
| Add: Acquisitions at cost | 143,026 | 1,152,487 | |
| Less: Disposals at opening market value or later cost | (1,916,374) | (1,620,588) | |
| Gains/(losses) on revaluation | 475,325 | 727,410 | |
| Increase/(decrease) in cash held as part of investment portfolio | 2,579 | (51,567) | |
| ────── | ────── | ||
| Market Value carried forward | 5,962,916 | 5,965,360 | |
| ══════ | ══════ | ||
| Historical cost | 4,621,598 | 4,966,209 | |
| ══════ | ══════ |
There were nil employees in the year ending 31 December 2024 (2023 : 0)
19
THE DAVID FAMILY FOUNDATION
| 7 | Debtors | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Prepayments | 130 | - | |
| Accrued interest | 40 | - | |
| ─── | ─── | ||
| 170 | Nil | ||
| ═══ | ═══ | ||
| 8 | Creditors: amounts falling due within one year | 2024 | 2023 |
| £ | £ | ||
| Audit, independent examination and accountancy fees | 6,210 | 5,970 | |
| Bookkeeping | - | 1,093 | |
| Broker fees | 14,881 | 16,257 | |
| Committed donations | 115,300 | 177,539 | |
| ────── | ────── | ||
| 136,391 | 200,859 | ||
| ══════ | ══════ | ||
| 9 | Creditors: amounts falling due in more than one year | 2024 | 2023 |
| £ | £ | ||
| Committed donations | 45,000 ══════ |
57,000 ═════ |
10 Trustees' Remuneration and Expenses
Expenses totalling £36 were reimbursed to two trustees during the year end 31 December 2024 (2023: £363).
No remuneration or other benefits have been made or are due to be made to the trustees in respect of the year to 31 December 2024 (2023 : Nil).
20
THE DAVID FAMILY FOUNDATION
| Fund Movements | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Unrestricted Funds brought forward | 5,839,207 | 5,678,276 |
| Income | 171,258 | 71,863 |
| Expenditure | (677,781) | (726,652) |
| Gains and Losses | 560,196 | 815,720 |
| Transfer from designated funds | - | - |
| ────── | ────── | |
| Unrestricted Funds Carried Forward | 5,892,880 | 5,839,207 |
| ══════ | ══════ | |
| Designated Funds brought forward | Nil | Nil |
| Transfer to Unrestricted Funds | - | - |
| Expenditure | - ────── |
- ────── |
| Designated Funds carried forward | Nil ═════ |
Nil ═════ |
11 Fund Movements
All funds are unrestricted.
21