REGISTERED CHARITY NUMBER: 1140655 REPORT OF THE TRusfEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION Walker Thompson Ltd Accountants and Registered Auditors Empress House 43A Binley Road Coventry CV3 1HU
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of the Trustees 1 to 3 Independent Examlner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 13 Detailed Statement of Financial Actlvltles 14
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 Decernber 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slateinent of Rècommended Practicè 2pplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The charitable Objects of the Trust are that the trustees shall hold the capital and income of the Trust upon trust lo apply the income and a118u¢h parl or parts of the capital. at such lime or times and in such manner lo, or for the benefit of, such exclusively charitable objects and purposes in any part of the world as the trustees in their disGretton think frt. The settlor of the Trust expressed a wish for the Iruslees to apply the income and capital lo chariÈble objects and purposes benefilling children Ipe¥son5 under the age of 18 years) and animals. Public beneflt The tru51ees confirm that they have ferred to the guidance contained within the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning their current and future strategies in respect of charitable grant making. ACHIEVEMENT AND PERFORMANCE The trustees considered a number of projects for Donations during the year. Donations of £2.500 were made lo Worcester Animal Welfare Shelter, £5,000 lo Molly Ollys Wishes a charity caring for the emotional needs of children with serioLJS illnes8, and £7,500 to Bilslon Town Football club to buy football kit for the childrens team and support trips. The Trust has 8 commercial rental units in Middleborough which were donated by the Selllor with a view to generating income for the Twsl. Al the start of the year 7 units units were occupied, and maintained an average of 7 all year. At the year end one unit was Still v2c2nt and at the dale of this report is still empty. The current annual rent of the seven units is £64.882. The unit still vacant is being advertised for a rental of £13,158 p.a. Vvhen the units are fully occupied this reduces costs for the Trust as il does not bear service charge and insurance costs and will enable further donations to be made. Repairs of £22,004 were required to the units comprising gullering, damp proof, drainage, and electrical maintenan_ FINANCIAL REVIEW Flnancial positlon The nel surplL¢S for the year amounted to £9,091 (net surplus at 31 December 2022.. £25.5981. AI 31 December 2023, the Trust ha(t net assets of £772,358131 December 2022.'£763,2671. Page 1
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Reserves policy The Trustees consider that they should maintain a level of unreslricled reseNes that would enable them to continue with the Trust's charitable objectives for the foreseeable future in the event of a loss of income, In accordance with the direction of the governing trust deed The Trustees 8re also permilled lo sel aside a proportion of the TTusI's income into a Capital Fund in order to create a more subslanlive base for the Trust as well as providing a reserve for any significant repairs or properly improvements Ihal might be necessary. Al 31 December 2023 the balance on unrestricted income funds amounted to £27,321 {2022.' £18,230),. the balance on the designated capital fund amounted to £745,03712022-. £745,037). In the prior year, toilets and a kitchen were added to one unil at a cost of £20,032, representing an improvement to the properly and were thus capitalised. No capital improvements lo properly were made during 2023. The charity's powers lo invest its funds are sel out in the Trust's goveming instrument. Any monies not immediately required for the furtherance of the Trust's objects May be Invested al the discretion of the trustees. There are no restrictions on the trustees, power lo invest funds. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The ChaTilable Foundation was established by a Trust Deed on 24th January 2011. Recrultment and appolntment of new trustpes The minilnum number of trustees is four and the maximum number is ten. Recruitment and appointment will be reviewed by the Iruslees as the needs arises. The power lo appoint new trustees is vested in Anthony and Elaine Belhell. Declslon making The Iruslees meet regularly lo discuss the Trust's affairs and make decisions as required which they believe lo be in the best interest of the Trust and its beneficiaries. Induction and training of new trustees The current trustees are responsible for the indLJCtion of any new trustees which involves awareness of a trustees, responsibilities. the governing document, administrative procedures and the history of the Trust. A new trustee would receive a welcome pack which includes copies of the previous yea¢ s annual report and accoLJnls. a brief history of the Trust and a copy of the goveining document. the pack will also include a copy of the Charity Commission guidance 'The Essential Trustee: What you need lo know, and 'Charities and Public Benefit,. Trustee approach to risk During the year under review, the trustees undertook a ftjll review of the Risk Assessment appSittable to the charity. The assessment, in line with policy, covered Governance. OperatiOn5, Financial, External & Compliance and will be reviewed on an annual basis. The Iruslee5 have systems in place to identify any conflicts of interest that may ocour. When a conflict of interest arise5, the relevant trustee or trustees agree to withdraw from any discussion and decision. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number I1455 Page 2
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Principal address Upper Rowley WaspeTlon L8ne Barford Watwi¢k5hire CV35 8DQ Trustees A F Bethell Mrs E Belhell M D Freeman P Phillips Di S Wassef Independent Examiner Chris Irvine Walker Thompson Ltd Accountants and Registered Auditors Empress House 43A Binley Road Coventry CV3 1HU Approved by order of the board of trustees on 28 October 2024 and signed on ils behalf by.. A F Belhell Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION Independent 8xaminer's report to the trustèe of The Anthony and Elaine Bethell Charitable Foundation I report to the trustees on my examination of the financial statements of The Anthony and Elaine Belhell Charitable Foundation Ilhe Trust) for the yèar ended 31 December 2023. Responsibilities and basis of report As the Iruslees of the Trust you are rèsponsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Acll. I report in respect of my examination of the Trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicablè Directions given by the Charity Commission under section 14515llb} of the 2011 Act. Independent examinevs statement Your allenlion is drawn to the fact that the charity has prepared financsal statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Slalement of Recommended Practice issuèd on 1 April 2005 which is referred lo in the extant regulations bul has now been withdrawn. l understand that this has been dane in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no mallers have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act.. or 2 the fi'nancial statements do not accord with those records., or 3 the financial statements do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requirement that tho accounts give a true and fair view whÉch is not a matter considered as parl of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the financial statements lo be reached. Chris Irvine Walker Thompson Ltd Accountants and Registerèd Auditors Empress House 43A Binley Road Coventry CV31HU 28 October 2024 Page 4
THE ANTHONY AND ELAINE BEYHELL CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unreslriclèd funds 2022 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 64,982 60,340 EXPENDITURE ON Raising funds 30,846 27,731 Charitable activities Worcestershire Animal Rescue Shelter Molly Olly's Wishes Bilston Town Community Football Club Ltd 2,500 5,000 7,500 Other 10,045 7,011 Total 55,891 34,742 NET INCOME 9,091 25,598 RECONCILIATION OF FUNDS Total funds brought forward 763,267 737,669 TOTAL FUNDS CARRIED FORWARD 772,358 763,267 CONTINUING OPERATIONS All income and expenditure dernie from continuing activities. The statement of financial activities includes all gains and losses recognised in the year. The notes form parl of these financial statements Page 5
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION BALANCE SHEET 31 DECEMBER 2023 2023 Unreslricled funds 2022 Total funds Notes FIXED ASSETS Investment properly 745,037 745,037 CURRENT ASSETS Debtors Cash al bank 1,232 43.864 3,095 38,496 45,096 41.591 CREDITORS Amounts falling due within one year 117,7751 {23,3611 NET CURRENT ASSETS 27,321 18,230 TOTAL ASSETS LESS CURRENT LIABILITIES 772,358 763,267 NET ASSETS 772,358 763,267 FUNDS Unreslricled funds.. General fund Designated fund 10 27,321 745,037 18,230 745,037 772,358 763,267 TOTAL FUNDS 772,358 763.267 The financial statements were approved by the Board of Trustees alld aulhorised for issue on 28 October 2024 and were signed on its beha)f by. AFBelh slee The notes form part of these financial statements Page 6
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls have been Prepared in aGcordance with the charity's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Piaclice applicab5e lo Gharitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 {effective 1 Jansjary 20191".The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial ststements have departed from the Charities (Accounts and Reports) Règulations 2008 only lo the extent required to provide a true and fair view. This departure has involved following the Slalement of Recommènded Practice for charities applying FRS 102 rather than the version of the statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the funclianal currency of the Trust. Monetary amounts in these financial slaternenls are rounded to the nearest £. The financial statements have been prèpared under the historic21 cost convention, modified to include the revaluation of investment properties. The principal accounting policies adopted are set out herewith. Critical accountlng Judgements and key sources of estimation uncertalnty In the application of the Trust's accounting policies, the trustee5 are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that ale not readily apparent from other SoUrs. The estimates and assoeiated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results May differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and fulure periods where the revision affects both current and future periods. Income Income is recognised when the Trust is legally entitled lo il after any performance conditlons have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations ale recognised on receipt. Other donations are recognised once the Trust has been nob'fied of the donation. unless peTforrnance condttions require deferral of the amount. Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending disliibulion, the amount is known. and receipt is expected. If the amount is not known, the legacy is Ireale(f as a contingent asset. Expenditure Expenditure is recognised once there is a legal or constsuclive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligab'on can be measu¥ed reliably. Page 7 continued.
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- continued Expenditure Expenditure ig classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undei12king each activity. Direct costs attributable lo a single activity 8re allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not atlribulable lo a single aclivily are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asseys use. Liabilities are rec(niSed as expenditure as soon as there is a legal or con51ruclive obligation commilling the Trust lo that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end dale are noted as a ommilment bul not accrued as expenditure. Investment property investment property. which is property held to earn rentals andlor for capitsl appreciation, is initially recognised al Cost, which includes the purchase cost and any directly attributable expenditure. SubseqLJen11y it is measured al fair value al the reporting end date. The surplus or defr'cil on valuation Is recognised in profit or loss. Charltable funds Unre5tricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated tunds comprise funds which have been set aside al the discretion of the Iiuslee5 for specific purposes. The purposes and uses of the designated funds are set out in the notes lo the financial statements. Restricted funds are subject lo specilic conditions by donors a5 to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statements. Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue lo adopl the going concern basis of accounting in preparing the financial statements. Page 8 continued...
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME 2023 Unieslricted funds 2022 Total funds Rents received other income 64,882 100 60,340 64.982 60,340 RAISING FUNDS Raising funds costs 2023 Unrestricted funds 2022 Total funds Light and heal Insurance Legal fees Professional fees Rent collection fees Repairs & maintenance Service charges Sundry costs Marketing Bad debts 1,265 533 1,663 464 5,321 3,113 2,216 12,956 1,539 36 423 3.814 22.004 1,600 1,630 30,846 27,731 SUPPORT COSTS Governance and admin costs Other resources expended 10,045 Page 9 continued...
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS- continyod Support costs, included in the above, are a8 follows.. Governance and admln costs 2023 Other resources expended 2022 Total activities Wages Software Independent examination fees Bank charges Accountancy Sundry Costs 5,000 385 2,000 72 2,380 208 1,667 316 2,000 67 2.961 10,045 7,011 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 Decèmber 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no Iruslees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. EMPLOYEES During 2023 there was 1 parl lime employee12022'. 11. INVESTMENT PROPERTY FAIR VALUE Al 1 January 2023 and 31 December 2023 745,037 NET BOOK VALUE At 31 December 2023 745.037 Al 31 December 2022 745.037 Investment properly was ievalued on the 17th December 2020 by Dodds Brown LLP chartered surveyors and property consultants. The Trustees are satisfied that the nel book value at 31st December 2023 is a fair value within the current economic climate and in its current situation. Page 10 continued...
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2023 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors other debtors 1,060 172 1.955 1,140 1.232 3,095 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Taxation and social security Other creditors 1,655 3.884 2,040 17,437 16,120 17,775 23,361 10. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 A11.1.23 Unreslri¢ted funds General fund Designated fund 18,230 745,037 9,091 27,321 745,037 763,267 9,091 772,358 TOTAL FUNDS 763,267 9,091 772.358 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 64,982 155,8911 9,091 TOTAL FUNDS 64,982 155,891) 9,091 Page 11 continued...
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 10. MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.12.22 At1.1.22 Unrestricted funds General fvnd Designated fund 12,664 725,005 25,598 120,0321 20,032 18,230 745,037 737,669 25,598 763,267 TOTAL FUNDS 737,669 25,598 763,267 Comparative nel movement in funds, included in the above are as follows: Incoming reSoUrS Resources expended Movement in funds Unrestricted funds General fund 60,340 134,7421 25,598 TOTAL FUNDS 60,340 {34,7421 25.598 A current year 12 months and prior year 12 tllonths combined position is as follows.. Nel movement in funds Transfers between fLJnds At 31.12.23 At1.1.22 Unrestrlcted funds General fund Designated fund 12,664 725.005 34,689 120,032} 20.032 27,321 745,037 737,669 34,689 772,358 TOTAL FUNDS 737,669 34,689 772,358 A Current year 12 months and prior year 12 months combined nel movement in funds, included in the above are as follows.. Incoming resour8 Resources expended Movement in funds Unrastricted funds General fund 125,322 190,6331 34,689 TOTAL FUNDS 125.322 190,6331 34.689 Page 12 continued...
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 11. RELATED PARTY DISCLOSURES Al the year end A F Belhell, Trustee of the charity, was owed £424 12022." £4241 in respect of expenses paid on behalf of the charity. This was repaid in full after the year end. During the year Services Charges of £1,60012022". £1,539) and Insurance of £53312022.. £4641 were charged by Second Riverside Syndicate Management Limited. Al the year end a balance of £204 12022.. £6951 was due to the company. During the yèar Services Charges of £Nil 12022.. £Nill and insurance ol £Nil 12022-. £Nil I were charged by First Riverside Management Limitèd. At the year end a balanc6 of £Nil (2022.. £Nill was due to the company. These companies manage the common areas on behalf of all the properly owners on the industrial eslales. By virtue of his shareholdings, Mr Bethell has control of these companies. Since May 2019 Mr Belhell's own accounts staff have managed the collection of rent and day lo day management of tenants. No fee has been charged for this service bul it is estimated that a commercial agent would have charged al least 5 /0 of rent collected. Mr Bethell's staff also deal with the day lo day management of bookkeeping and administration for the charity again no fee ha5 been charged for this. From February 2022 an outsourced bookkeeper look over the bookkeeping and from September 2022 a part-lime administration assistant has been employed lo undertake the tasks noted above. This has continued into and throughout the 2023 financial year. Page 13
THE ANTHONY AND ELAINE BETHELL CHARITABLE FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unrestricted funds 2022 Total funds INCOME AND ENDOWMENTS Investment incomo Rents reGeived Other income 64,882 100 60,340 64.982 60,340 Total Incoming resources 64,982 60,340 EXPENDITURE Raising funds costs Light and heal Insurance Legal fees Professional fees Rent collection fees Repairs & maintenance SeNice charges Sundry costs Marketing Bad debts 1,265 533 1,663 464 5,321 3,113 2,216 12,956 1,539 3,814 22,004 1,600 423 1,630 30,846 27,731 Charitable activities Grants payable 15,000 Governancg and Administration Governance and admin costs Wages soltrare Independent examination fees Bank charges Accountancy Sundrycosts 5,000 385 2,000 72 2,380 208 1.667 316 2,000 67 2,961 10.045 7,011 Tolal rosources expended 55,891 34,742 Net Incomellexpenditurel 9,091 25.598 This page does not form parl of the slatulory financial statements Page 14