Charity Reglstration No. 1138925 NEW QUADRANT FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 NEW QUADRANT FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trusts& New Quadr8nt Trust Corporation Limtted Charlty numbèr 1138925 Principal address 25 Bury Street Sl. James's London SW1Y 6AL Independent examln¢T Gilbert Holbouin FCA FCCA DChA 1 Upper Bridge Street KÈnl TN25 SAF Bankers Virgin Monèy UK PIC Thè Leadenhall Building 15th Floor 122 Lexdenhall Street London EC3V 4AB Solicitors New Quadrant Parlners Lirlliled 25 Bury Street Sl. James's London SW1Y 6AL NEW QUADRANT FOUNDATION CONTENTS Page Trusteè rèport Independent examinerfs report Statement of f￿arte￿al aciivities Balan¢e sheet Notss to Ihe accounts NEW QUADRANT FOUNDATION TRUSTEE REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trtsslee present théir report and finanual statements for the year ended 5 April 2024. The finan¢lal statements h2ve boen prepared in accordance with tho accounting policies SÈI oul on pages 7 and 8 of the allached financial statements and comply with the Gharily's trust deed, 8pplicable laws and the requ1￿mentS of the Statément of Recomrnend Practice ISORPI applicable to ¢harilies preparing their finanaal statèments in accord8n¢e with the Financial Reporting Standard applicable in the United Kingdom and Republi of Ireland IFRS1021 effective 1 January 20191. Objaetlvès and actlvltlè$ The Tiuslees operate a grant giving policy. providing funds for such inslilulions as the Trustees think fil, locally. nationally and intern3lionally or individua15 whose needs are ¢onsideTed lo be ol a oh8ritable purpose tsr any charitable object. The Trttstes have paid due regaid lo guidance issued by the Chaiity Commission in de¢idlng what actiwties the Charity should undertake. Achievements and performan¢e Financlal rèvièw In thè yÈar ended 5 April 2024, the Trusteès are pleased lo roport that cash don8tions of £19,192 were r￿1ved, inclusive of Gift Aid {2023- £29.3881. Thérè was no gift of shares in the year12023- £220,921). Bank interest of £7.966 was recèivèd dursng the year12023- £nil). The Trustoes awarded grants during the year lolalling £13,23412023 - £25,661) in accordaneÉ with the Charity's grant making policy. A detailéd list of all grants made in the yèar is included in nole 6 on page 9. Rèsults for thè yea During thé year ended 5 Aprll 2024, total incoming resources amountèd to £27,158 12023 - £250,309> being donat￿ng received in cash by the Charity and Gift Aid and inter851 on funds held by the Charity. The Trustees, charitable activities amounted to 214.784 inclusive of governance costs 12023- £26.3111. Governance costs amounled to t1,550 12023 - £6501 and there were nel inveslmenl Ioss8s ol £nil 12023 £4,037). The nel incoming resoLJr¢es were £12,374 {2023- £219,￿11. All funds are unreslricled and the Trustees relain sufficient funds for the Maintenan￿ of the TrusL The Trustee's policy is to maintgin 8 level of cash ieseryes out of current income which will provide a slable base for ils Continuing activities whilst er)suring exGessive funds are not sccumulated. The Trustee believes that the reserves are sufficietrt for ils current purposes. and these ale reviewed on a regular basis. NEW QUADRANT FOUNDATION TRUSTEE REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Rlgk managèment In lille wilh the requirement of Charity Trustees Its undertake a risk assessment exerase the Trustees have idenlified three main areas where risks may occur. Governance OpeTalion&l Financial Governance (x)vers Ihe continuily of trusteeship, Ihe s￿118 and background tsf the Trustees and the policy of regular meeting8 ol the Truslees to review their aims and aclivllies. Operational risk covers the risk inherent in the deleg81ion of slalulory and legal requirements of Ihe Chartly, Its managemènl 8nd sectelarial functions and delegation of those ￿rtain functions. Fin¥ncial risks indude those inherent in delegation of the finan¢ial record keeping of the Chaity, its independent examination or audit and review procedures. Having asse55ed the major risks lo which the Charity is exposed. in partiCLElar those relating lo its finances, th8 Twstees believe that by ensuring controls exist over key financial systems in¢orporatsng the systems and controls implemented by New Quadrant Partners, subject to regular monitoring. they have established effective systems lo miligalè those risks. The risk management will be kept under regular réview and is fully reassessed every three years. Future plans The Trustees do not anli¢ipate any Significant tthanges lo the Chafily or its activitiès over the next two to five years. It is their intention lo meet the following objeolivES.' To ensure the oonlinued generation of income in future pfjriods, thereby helping to safegLÈard the long term existencè of the Gharily. To ￿ntinUe to make distiibulions as described abové. Structurei governance and management New Quadrant Foundation is governed by a trust deed dated 24 Septeniber 2010 and received confirmallon of charitablè status on 11 November 2020. The Charity is registèred under the Charities Act 2011, Charity Regislr81iL)n Number 1138925. The name of the Trustee who served during the year is set out below.. New Quadrant Trusl Corporation Limited The slatulory power of appointment of new Trustses lies Wlth the Trustees Ihernselves. The Trustees can eilhef be a Trust Corporation or at least three Truslees. The Tiuslee is now New Quadrant Trusl Corporation Limited. Apart fmm the first Trustees, every TtU51ee musi be appointed by a resolution of thè Trustees passed al 8 special meeting. The Ttuslees will sel8¢t individuals with the relevant knowledge and experience needed for the effedive adminislralion of the Charity. The new Trustèe is given upon fiTsI appointment a copy of Ihe Trust deed ancf any 8mendmentS thereto and a copy of the Charity's latest 18POrt and statement of 8ccoiinls. The Twstee is ultimately responsible for the policies, actlvill¢s and assets of the Charity. The corporate Trustee aims to meet at1è8sI hvice a year lo review Ihe developments with ￿98rd lo the Charily and ils grant giving activities and lo mak9 any important decisions. The day to day managemerst of the Charily's activities. and the implementation of polides, is dealt with by thé Trustee itself. New Quadranl Partners Ltd maintain th@ accounting records of the Charity. Al thèir meetings the Trusiae reviews the proposals lor granlg and granls made, and the level of funds available. NEW QUADRANT FOUNDATION TRUSTEE REPORT {CONTINUEDI FOR THE YEAR ENDED 5 APRIL 2024 The Trustee are responsible for weparing thè Rep¢)rt and tho aceounls in acctsrdance with applicablè law and United Kingdom Ac¢ounling Standards (Unitèd Kingdom Gen81ally AcceptÈd Acwunling Pra¢llcel. The law applicable lo eharilies in England and Walès requires the Trusl&e lo prepare ae¢ounl8 for each fin8nCi81 yearwhich give a true and fair view ol the state of affairs of the Chaiily and ol the incoming resources and application of resources of the Charity for that year. In preparing thèse accoynls. the Trustee are Tequired to.. select suitable accounling policies and then apply them consistenlly; ob8eFve the methods and principles in the Charities SORP., make judgemen15 and eslimales that ai& reasonable and prudeni., statè whether applicable accounting standards have been followed, subjed to any material departures disclosed and explained in the accounts.. and prepara the ￿￿OUntS on the going concèrn basis unless 51 is inappropri*e lo presume that the charity will ctsnlinue In operation. The Truslee aro responsible for keeping suffieiÉnl accounting records that diselo$e with reasonable accuracy al any lime the financial position of the Charity and enable them lo ensuré that the accounts comply with the Charities Act 2011, the Charity IAccounl3 arFd Reports) Regulalions 2008 and the provisions of the trust deèd. They are also responsible for safeguarding the assèts ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. The report was approved by the Trustee and signed on thair behalf by.- New Quadrant Trust Corporation Llmitèd Dated.. gilbert holbourn gilbert holbourn (Jan 28, 2025 16:41 GMT) 28/01/2025 NEW QUADRANT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Total 2024 Total 2023 Notes Income from: DonAlions and legacies In¢ome from Investmènts 19.192 7.986 250.309 Total Income 27,158 250,309 Expenditure on.. Charttable activities 14.784 26.311 Total resources expended 14.784 26.311 Nel losses on investmènts 4,037 Net Income for the yearl Net movement In fund8 12,374 219,961 Fund balanee al 6 April 2023 222,411 2,450 Fund balancè at S Aprrl 2024 234,785 222,411 Tha notè5 on pages 7 10 9 form p8rt of these financial slalements. All recognised gains and losses are included in the above statement of financial activities. All the Cha¥ily's adivilies are deTived frorn continuing tsperalions during the abova flnan¢l81 year. NEW QUADRANT FOUNDATION BALANCE SHEET AS AT5 APRIL 2024 2D24 2023 Notes ¢￿￿ent assets Debtor$ Cash al bank and in hand 216,883 6,178 235,435 235,435 223.061 Credltors: amounts falllny due wtthln on8 yaar 650 e5 Nel current assets 234.785 222,411 InGomè funds Unrestricted funds 234,785 222,411 234,785 222.411 The notes on pages 710 9 form part of these financial statemants. The financial slalèmènls w6r& approved by the board of trustees and 8ulhorls8d for issue on are signe ils behalf by.. z& .and U2dranl Trust Corporation Limited TTustsè NEW QUADRANT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting poli¢les 1.1 Aceounting convention The financial statements have been PTBpared under the hislorical eosl convention with items recognlsed al cost or Iransaction value unless otherwise staled in thè relevant Aceounling policies below or Ihe notes lo the acGounls. The accounts have been prepared in accord9n￿ with the Accounting and Rèporting by ChaTilies'. Slatement of Recommend Practice applicable to charities preparing their accounts ill accordance with the Finaneaal Reporting Standard applicable in thé United Kingdom and Republic of Ireland (FRS 1021 SeeA)nd Edilian (Èffective 1 January 20191 Ichaiilies SORP FRS 1021 and the Charities Act 2011. New Quadrant Foundation meets the definillon of a public entity under FRS 102. The a￿Ount5 are prepaied in sterling. which is the functional currency of the Chaiily. Monetary amounts in these financial statements are rounded to the nearesl £. 1.2 Golng con¢em At the time of approwng the accounts, the Trustee have a reasonable expectation that the Charity has adequatè résources lo continue in operational existence for the foreseeable future. Thus Ih&y conlinuo 10 adopt thè going concern basis of accounting in preparing the accollnls. 1.3 Charltablè funds Unre51ridod funds are available for use al the discretion of the Trustee in lurtherance of their ehari18ble objectives unkss the funds have been designated for other purposes. Reslricled funds are subject to spÈ¢ific conditions by donofs as lo how they may be used. The purposes and uses of the reslrictgd funds a￿ sel out in the notes lo Ihe accounts. 1 A Incomlng resourcès IncomÈ is recognised when the Charity is legally entilled tc> il aftér any perf0rrnan￿ conditions have been met, the amounts can be measured reliably, and it is probxble that income will be received. Cash donations are recognised on receipt. Other donations are recognised once Ihe Charity has been notified of the donation, unless performance conditions requirè deferral ol the amount. Incorn8 lax recoverable in relalion to donAlions re￿iVed under Gift Aid Is recognised at the time of the Llonalion. Invèstment income is accounted for In the period in which the Charily is enlilled lo receipt. l.S Rèsources expended The eost of charitable a¢livities are included in the slalemenl of finanual activitié$ on an accruals basis, inclusive ol VAT, which cannot be recovered. Charitablé costg comprise Ihe following- Charitable costs comprise grants payable in promoting and enhancing chsrilable work carried out by other charitable organisations and thè cost of administering Ihe activities of the Charity. Grants p8y8ble are included in the slatemenl of financial activities when approved and when the intended recipient has either received the funds or been infortned of the decision to make the donation and has satisfied all related conditions. Grants approved bul not paid al the end of the fin2ncial year are accrued. Grants where the beneficiary has not beén informéd or has lo meet ￿rtain conditions before Ihe grant is relè3s8d #re not accrued bul are noted as flnancial cornmilmenls in the notes lo the accounts. Governance costs include costs which are direclly attributablè to th8 Independent Examination and other pro¢edu¥es necessary lor compliance with statulory requirements and the governance of the Charily, NEW QUADRANT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policiès Icontlnuedl 1.6 Cash and cash equivalents Cash and cash equivalents include ca8h in hand. deposits he5d at call wilh banks, other short-lerm liquid investments with original maturities of three months or less, and bat)k overdrafts. Bank overdrafts ale shown within borrowings in current liabilities. 1.7 Taxation New Quadrant Foundation is a reglslerod charity and therefore is not liabte lo Income Tax or Corpor8tion Tax on incorne derived frorn 115 charitable acliwtie8, as il falls wllhin the various exemptions available lo registered charities. Critical accountlng estimate8 and judgements In the appli¢alittrt of the Chsrity's accounling policies. the Trustees are required lo make jLJdgements. estimates and assumptions 8boul the carrySng amount of assets and liabilities Ihal are not readily apparent from other sources. The eslirnales and associated assumptions are based on historical experience and other factors thAt are considered to be relevant. Actual results May difffer trom these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Rèvisions to aceountino estimates are recognised in the period in whl¢h the estimate is revised where the revision affec15 Qrily that period, or in the period of the revision and future periods whère thè revision affects both current and future P8ri0ds. No such judgernenls or eslimales have been necessary in the preparation of these financial st8lements. DonatÈons and18gaclas 2024 2023 Donations and GAYE Charity quiz night donab'ons Gift of shafes 19.192 15.272 14,116 220,921 19,192 250,309 Income from Investments Unr&$trictÈd funds Total 2023 Arbuthnot Latham deposit a¢¢ounl Inleresl New Quadrant Cllenl 8ccounl interest 6,592 1,374 7.986 NEW QUADRANT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5APRIL 2024 Charltabl8 activities 2024 2023 Independent Exarninalion Grants payable (seé noté 51 New Quadrant Partners Llmited lees 650 13,234 900 650 25,661 14,784 26.311 Grants payablo 2024 2023 Grants to instituttons.. Alzheimers Soaety Children with Cancer Dr Ch8llenorfs School Educational Trust East Suffolk Snd North Essèx NHS Trust Inspire at St Pele¢s Metabolic Terrain Pèople's Trust for Endangered Speues RNH Neuro Disability The Twssell Trust The Brain Tumour Charity Shelterbox Valsalya Street Girfs Woodland Trust 720 420 138 1,143 80 240 19,651 1,120 480 4,086 40 80 480 360 67 160 5,521 3,149 13,234 25,661 Dèbtor8 2024 2023 Amount¥ falling due within one year. SÈ¢urity sale proceeds due lo the ChaTity al year end 218,883 Creditors: amounts falllng due wllhin one year 2024 2023 Independent Ex8minalion 650 650 650 $50 ## New Quadrant Foundation signed accounts 2024 Final Audit Report 2025-01-28 Created: 2025-01-28 By: New Quadrant Partners Ltd (trusts@nqpltd.com) Status: Signed Transaction ID: CBJCHBCAABAAhXiK7Yc9plJOyMNNnQZugCwFxgRvMLnQ ## "New Quadrant Foundation signed accounts 2024" History Document created by New Quadrant Partners Ltd (trusts@nqpltd.com) 2025-01-28 - 4:25:28 PM GMT Document emailed to gilbert.holbourn@gmail.com for signature 2025-01-28 - 4:25:32 PM GMT Email viewed by gilbert.holbourn@gmail.com 2025-01-28 - 4:40:31 PM GMT Signer gilbert.holbourn@gmail.com entered name at signing as gilbert holbourn 2025-01-28 - 4:41:11 PM GMT Document e-signed by gilbert holbourn (gilbert.holbourn@gmail.com) Signature Date: 2025-01-28 - 4:41:13 PM GMT - Time Source: server ## Agreement completed. 2025-01-28 - 4:41:13 PM GMT