Reports & Financial Statements For the year ended 31 December 2024 BC Partners Foundation AEC4991W 2910912025 COMPANIÉS HOUSE A18
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BC Partners Foundation Contents Page Charity information Report of the Board of Management Independent auditoes report Statement of financial actlvities io Balance sheet li Statement of Cash Flows 12 Notes to the f inancial statements 13-18
BC Partners Foundation Company registratlon no. 07260058 Charity information Charity registration number: 1136956 Company reglstration number: 07260058 Reglstered office: 40 Portman Square London WIH 6DA Bankers: Royal Bank of Scotland 250 Bishopsgate London EC2M 4AA Independent audltor: Forvls Mazars LLP 6 Sutton Plaza Sutton Court Road Sutton Surrev SM14FS Trustees: Cedric Dubourdieu Matthew Evans Marco Castelli (appointed 17 June 20241 Andrew Devine (appointed 9 September 2024) Laurian Douin Nikos Stathopoulos {resi8ned 6 June 2024)
BC Partners Foundation Company reglstration no. 07260058 Report of the Board of Management Introduction During 2024 the Trustees of the Foundation continued to promote charitable giving amongst BC Partners and its employees, This was achieved through continued emphasis on financial support for good causes including the donation matching scheme, and encouragement and support for all employees to support charities by 81vlng up their time. The Foundation Board of Trustees is made up of senlor BC Partners personnel and Is represented in all BC Partners offices worldwide by a local representative. The Foundation continues to be principally funded by BC Partners. Charltable giving and actlvltles During the year donatSons received have increased to £435,836 from £375,391 in 2023, an increase of 16.1%. Of total donations, 100% relates to donations from the BC Partners group reflecting the continued presence that the Foundation has within the firm. Donatlons have been made to a broad range of charltles around the world, which can be divided into three areas: li) communlty development le.g., infrastructure investments, development aid, health care improvements); lill environmental conservation {e.g, pollution reduction, natural presepiation, clean technologies). and liiil arts & education le.g, educational, scholastic or artistic programsl. A list of the charities supported by the Foundation can be found at htt www.bc artners.com about foundation The Foundatlon does not support unsolicited requests for donations but only supports charltles nominated by BC Partners employees and alumnl. Responsible investment at BC Partners The BC Partners Foundation is a cornerstone in BC Partners, overall responsible investment strategy. As a signatory of the UN Principles for Responsible Investment I'UNPRI'I, Environmental, Social and Governance I'ESG") issues and considerations not only affect investment declsions but are also engralned In the thlnklng of BC Partners. employees. The creation of the BC Partners Foundation was a natural addition to BC Partners, ESG approach to responsible investment. Report and audited financial statements The Board, acting as Trustees, presents the report and audited financial statements for the year ended 31 December 2024. These have been prepared in accordance with the Charity SORP {FRS 1021, the Memorandum and Articles of Association of the company and the provisions of the Companies Act 2006.
BC Partners Foundation Company registration no. 07260058 Report of the Board of Management Governing document The BC Partners Foundation is a company limited by guarantee governed by its Memorandum and Artlcles of Association dated 20 May 2010, and registered as a charity with the Charity Commission on 20 May 2010. Appointment of trustees The directors of the company, who are also charity trustees for the purpose of charity law, are appointed in accordance with the Article5 of Association of the company and under the company's Articles are known as members of the Board of Management. There is no fixed term of office for members. The Foundation benefits from members of the Board of management being from a wide variety of backgrounds, with a diverse range of skills. Trustee induction and training Inductlon programmes for 8oard members are tailored to the needs of individuals. New Trustees are sent the Foundation's Memorandum and Articles, and encouraged to familiarise themselves wlth the charlty and the context within which it operates. They are made fully aware of the obligations of members of the Board of Management and the resourcing and current financial position of the Foundation as set out in the latest f inancial statements. Organisation The Trustees are listed on pa8e one of the flnancial statements. They meet annually to discuss the running of the Foundation. The Trustees have delegated the day to day administration of the charity to M Evans {Trustee}. Responslbllitles of the Board of Mana8ement Company and charity law require the Board to prepare financial statements for each financial period, which give a true and fair vlew of the State of affalrs of the Foundatlon as at the balance sheet date and of its income and expenditure. In preparing these financial statements, the Board is required to: select suitable accounting policies and then apply them conslstently; make judgements and estlmates that are reasonable and prudent; state whether applicable accounting standards and Statements of Recommended Practice 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 charlty will contlnue in operation. The Board is responsible for keeping adequate accounting records, which disclose with reasonable accuracy at any time the financial position of the Foundation and enable preparation of the financial statements complying with the Companies Act 2006 and the Charities Act 2011. The Board is also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
BC Partners Foundation Company registration no. 07260058 Report of the Board of Management Statement as to disclosure of Information to the auditors So far as the Trustees are aware at the time this report Is approved, there is no relevant audit information of which the Foundation's auditors are unaware; and the Trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. Foundation's aims and objectlves The Foundation's aims are to encourage giving from employees of BC Partners and to distribute grants to a range of charities in line with the wishes of the Trustees and the employees of the group. Summary of the main artivitles undertaken for the Publlc Benefit The charlty's maln activrty is providlng grants to a wide range of different charltles, both In the UK and abroad, All of these charities provide a public benefit In different ways, so by provlding grants to these charities, the charity is providing a public benef it through them. The Foundation's Trustees have complied with their duty per the Charities Act 2011 to have due regard to the Publlc Benefit 8uidance publlshed by the Charlty Commission. Financial review During the year, £435,836 was recelved as donatlons, and £571,518 was distributed as grants. The Foundation does not hold any investments and aims to distribute funds as soon as possible in order to support all of its charities. BC Partners LLP ha5 indicated its intention to continue to support the charitable activities of the Foundation. Reserves Policy All funds recelved by the charlty are for the sole purpose of charitable activities. The BC Partners Foundation aims to distribute these funds on a timely basis in order to achieve charitable objertives. BC Partners LLP supports BC Partners Foundation in meeting these objectives. Grant pollcy Grants are awarded to a wide range of charities, both in the UK and abroad. The c05t in the year represents actual grants payable to these charities.
BC Partners Foundation Company registration no. 07260058 Report of the Board of Management Rlsk assessment The Foundation faces various risks to which the Trustees have systems in place to mitigate: There is a risk that without due governance the Foundatlon may not meet its charltable objectlves. To mitigate this risk, we have ensured that our Trustees have the relevant experience and competence to supervise all aspects of the Foundation's work,. There is a risk of potential conf licts of interest. To mitlgate this a Conflicts of Interest Policy has been implemented enabling Trustees and staff to be aware of potential conflicts of interest and avoid situations where such a conflict might arise; and There are various financial risks faced by the Foundation. These are mitigated by the operation of strlngent flnancial controls and procedures. Plans for future perlods The Foundation aims to continue to grow In future periods, and to continue to make employees of BC Partners aware of the work that St does. It will continue to match donations made by employees to charities, which it is hoped will encourage further growth in charitable giving by employees. Audltors Forvis Mazars LLP were appointed as auditors to the BC Partners Foundation and have accepted appointment. These financial statements have been prepared in accordance with the provision applicable to companies subject to the small companies, regime, As approved by the Board of Management and signed on it5 behalf: Matthew Evans Trustee Date: 25 Septernber 2025
BC Partners Foundation Company registration no. 07260058 Independent auditorfs report to the members of BC Partner5 Foundation Opinion We have audited the financial statements of BC Partners Foundation (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting frameworkthat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" {United Kingdom Generally Accepted Accounting Practice). In our oplnlon. the financial statements: glve a true and falr view of the state of the charity's affairs as at 31 December 2024 and of Sts income and expenditure for the year then ended,. have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance wlth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard and we have fulfilled our other ethlcal responsibilities In accordance wlth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the flnancial statements is appropriate. Based on the work we have performed, we have not identlfled any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Report of the Board of Management, other than the financial statements and our auditor's report thereon. The trustee5 are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
BC Partners Foundation Company registration no. 07260058 Independent auditorfs report to the members of BC Partners Foundation In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materiallv misstated. If we identify such rnaterial inconsistencies or apparent material misstatements, we are required to determine whetherthere is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other informatlon, we are required to report that fact. We have nothing to report in this regard, Opinlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Report of the Board of ManaEement which includes the Directors, Report prepared for the purposes of company law, for the financlal year for which the financial statements are prepared is consistent with the financial statements; and the Directors, Report included within the Report of the Board of Management has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In light of the knowledge and understandin8 of thé charity and its environment obtained in the course of the audlt, we have not Identified material mlsstatements In the Directors, Report included wlthin the Report of the Board of Management. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not In agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responslbllltles of Trustees As explained more fully in the Respon5ibilitie5 of the Board of Management set out on page 3. the trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparinB the financial statements, the trustees are responsible for assessing the charlty's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
BC Partners Foundation Company registration no. 07260058 Independent auditorfs report to the members of BC Partners Foundation Auditorfs responsibilitie$ for the audit of the financial statements Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Irregularitles, including fraud. are Instances of non-compliance with laws and regulations. We design procedures in line with our responsibllities, outlined above, to detect material misstatements In respect of irre8ularltles, Includln8 fraud. Based on our understanding of the charity and its industry, we considered that non-compliance with the following laws and regulation5 might have a material effect on the financial statements: employment regulation, health and safety regulatlon and antl-money laundering regulation. To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to-. Inquirin8 of management and, where appropriate, those charged wlth governance,. as to whether the charity is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations: Inspecting correspondence, Sf any, with relevant licensin8 or regulatory authorltles; Communicatlng Identlfied laws and re8ulatlon5 to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and Considerin8 the risk of acts by the charity which were contrary to applicable laws and regulations, Includlng fraud. We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislationi pension legislation, the Companies Act 2006, the Charities Act 2011 and the Charities Statement of Recommended Practice. In addition, we evaluated the trustees, and management's inceTrtive5 and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls. and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, income recognition (which we pinpointed to the cut-off assertion), and significant one-off or unusual transactions.
BC Partners Foundation Company registration no. 07260058 Independent auditorfs report to the members of BC Partners Foundation Our audit procedures in relation to fraud included but were not limited to: Making enquiries of the trustees and management on whether they had knowledge of any actual, suspected or alleged fraud,. Gainin8 an understanding of the internal controls established to mitigate risks related to fraud; Discussing amongst the engagement team the risks of fraud; and Addressing the risks of fraud through management override of controls by performing journal entry testing. There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with mana8ement, As with any audit. there remained a risk of non-detection of irregularities, as these may involve colluslon, forgery, intentional omissions, misrepresentations or the override of internal controls. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.or8.uk/auditorsresponsibilities. This description forms part of our auditorfs report. Use of the audlt report This report is made solely to the charity's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006, Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them In an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charity aTrd the charity's members as a body for our audit work, for this report, or for the opinions we have formed, N icola Wakefield (Senior Statutory Auditor) for and on behalf of Forvis Mazars LLP Chartered Accountants and statutory Auditor 6 Sutton Plaza, Sutton Court Road, Sutton, Surrey, SMI 4FS Date". 26 September 2025
BC Partners Foundation Company reglstration no. 07260058 Statement of financial activities For the year ended 31 December 2024 Notes Unrestricted funds Restrirted funds Total 2024 Total 2023 Income Donations Gifts in kind 385,944 5,026 49,892 435.836 5,026 375,391 1,994 Total Income 390,970 49,892 440.862 377,385 Expendlture Expenditure on Charitable activitles Grant making 173,465 432,893 606,358 363,309 Total expenditure 173,465 432,893 606,358 363,309 Net movement in funds 217,505 (383,001) {165,4961 14,076 Total funds brought forward 139,355 383,381 522,736 508,660 Total funds carrled forward 356,860 380 357,240 522,736 The Statement of Flnancial Actlvltles Includes all 8ains and losses recognised In the year. All incorne and expenditure derive from continuing activities. The 2023 total figures included £55,460 of restricted donatioris and £130.459 of restricted 8rants payable. All other income and expenditure was unrestricted. io
BC Partners Foundation Company re8iStration no. 07260058 Balance sheet as at 31 December 2024 Notes 2024 2023 Current assets Debtors 54.617 351,102 58.591 555,941 Cash Total assets 405,719 614,532 Creditors: Amounts fallin due within one year 148.4791 191,7961 Net assets 357,240 522,736 Funds Unrestricted funds Restricted funds 356,860 380 139,355 383,381 357,240 522,736 These financial statements have been prepared In accordance wlth the provlslons applicable to companles subject to the small companies, regime. The financial statements were approved by the Board of Mana8ement on 25 September 2025 and signed on its behalf bv: Matthew Evans Trustee Date.. 25 September 2025
BC Partners Foundation Company re8lStration no. 07260058 Statement of Cash Flows for the year ended 31 December 2024 2024 2023 Cash flows from operatin8 activities Net lexpenditurellincome (165,496) 14,076 Adjustments for: Decrease/lincreasel in debtors IDecreaselllncrea5e In credltors 3,974 143,317} {1,6911 67,766 Net cash {outflow)/lnflow from operating activities (204,8391 80,151 Net Idecreasellincrease in cash (204,839) 80,151 Cash at beginning of the year 555,941 475,790 Cash at the end of the year 351,102 555,941 12
BC Partners Foundation Notes to the financial statements For the year ended 31 December 2024 Accountlng pollcles 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 Flhanclal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 {effertive I January 20191- {Charities SORP {FRS 102}I, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The charity meets the definition of a public benefit entlty under FRS 102. Assets and Ilabilities are Initially recognised at historical cost or transaction value unless otherwise stated in the relevant accountlng policy notelsl. Golng Concern These financial statements have been prepared on the goin8 concern basls. The Foundation continues to have a healthy cash balance with no donation obligations. BC Partners LLP has indicated its intention to continue to support the charitable activities of the Foundation. Therefore, the trustees consider that there are no material uncertainties about the charlty's ablllty to contlnue as a golng concern. Income Income recelved under the Gift Ald scheme15 Included In the Statement of Flnancial Actlvlties 8ross of any related tax credit. Expenditure Expenditure is accounted for on an accruals basis. Expenditure on charitable activities comprises direct grant expenditure in the year. Where expenditure cannot be directly attributed (support costs), they have been allocated to the activities on a basls consistent with the use of resources. Support costs are incurred directly in supporting each activity and are allocated based on the direct costs of each actlvltv. Governance costs comprise the running costs of the charity, including any professional services required by the Trustees. Grants awarded Grants are awarded to a wide range of charities, both in the UK and abroad. The cost in the year represents actual 8rants paid to these charities. Funds Unrestricted funds Unrestricted funds represent the unallocated part of the accumulated surplus remaining available for normal expenditure in future years. Restricted funds Restrirted funds represent donatlons to be passed to speclfic charltles, from employees of BC Partners. 13
BC Partners Foundation Notes to the financial statements For the year ended 31 December 2024 Estimates & Judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and otherfactors that are consldered to be relevant. Actual results may dlffer from these estimates. There were no speciflc Judgements, estimates and assumptions that were crltlcal to the preparatlon of these financial statements. Voluntary Income Unrestricted funds Restricted funds Total 2024 Total 2023 BC Partners Other donatlons Gift Aid recoverable Gift in kind 385,944 385,944 49,829 63 319,931 54,447 1,013 1,994 49.829 63 5,026 5,026 390,970 49,892 440,862 377,385 Durlng the year. the Foundatton was provided with flnance functlon support by BC Partners LLP. Itls not possible to quantify the value of the support received over the year, so this has not been included as a gift in kind. 14
BC Partners Foundation Notes to the financial statements For the year ended 31 December 2024 Grants awarded 2024 2023 BCPF Inc 85,768 5,668 3,218 1,411 390 41,227 8,641 2,805 1,781 350 Spread a Smlle Medecins Sans Frontieres Inc Macmillan Cancer Research TY Hafan Anthony Nolan SOS Villages MIVA Foundation CrowdFunding- Evies Recovery from Leukaemia Bellas Path to Independence Crowdfunding donation - supportln8 Aaron Oscar and Stanley TOG Plan International Proxlte Ronnie Grove Girl Guiding Wiklmedia Foundation Stiftung Deutsche Krebshilfe Guernsey Office Charity Ickle pickle Evan8elische Siftung Alsterdorf Private Equity Foundation DEC TEGV Solidarity Ukraine Rennie Grove Autistica 924 165 2,561 665 432,160 loo 525 1,022 7,106 923 13,254 9,536 200 67 360 5,000 300 360 125,000 46,274 43,930 14,812 9,732 7,182 4,286 1,939 1,447 1,253 1,103 I,ioo 864 Petits Princes Thomas's Foundation Red Cross Womankind Worldwide Tommy's Home Start EDM donation Helens Fight Against Cancer Twins Trust 500 300 Leeds weekend Care Association Office charity 206 200 15
BC Partners Foundation Notes to the financial statements For the year ended 31 December 2024 Lewisham + Greenwich NHS Trust Charity 150 Total Grants Support costs (see below) Total Expendlture 571,518 34.840 606.358 315,248 48,061 363,309 Support costs Exchange Losses Bank charges Governance costs.. 5,288 1.126 3,636 844 Auditorfs fee: Audit Auditorfs fee: Non-audit fees Bad Debt Expense 9,570 16,086 2,770 34,840 35,301 8,280 48,061 Employee information There were no employees employed by the Foundation during the year12023: £nill. There were no key management personnel In the year, No trustee received any remuneration in the year or was reimbursed any expenses in the year12023: £nil}. Debtors 2024 2023 Glft aid recelvable 54,617 58,591 54,617 58,591 16
BC Partners Foundation Notes to the financial statements For the year ended 31 December 2024 Credltors 2024 2023 Accrued donations Accrued expenses Trade creditors 11,550 18,803 18,126 55,222 36,574 48,479 91,796 Reserves Unrestrfcted Restrlcted funds fund5 Total Balance brought foDNard Incorne Expenditure 139,355 383,381 390,970 49,892 1173,4651 1432,8931 522,736 440,862 (606,358) Balance carried fonvard 356,860 380 357,240 Restricted funds represent donatlons made to be passed to speclflc charlties, from employees of BC Partners. Analysls of net assets Unrestricted Restricted funds funds Total Debtors Cash Creditors 54,617 (54,237) 54,617 351,102 148,4791 405,339 148,479) Net assets 356,860 380 357,240 Related parties There were no related party transactions in the year 2024 {2023: £nill. 17
BC Partner5 Foundation Notes to the financial statements For the year ended 31 December 2024 io Guarantors The Foundation is a company limited by guarantee and has no share capital. In the event of the Foundation being wound up. the liability of members is limited to £1. 18