BANHAM FOUNDATION LIMITED Com an No.. 07325044 Chari No.. 1141423 (A company Ilmlted by guarantee) R THE YEAR ENDED 31 DECEMBER 2022 BANHAM FOUNDATION LIMITED CONTENTS AGE Reference and Adminlstr8tive Details Report of the Trustee5 2to3 Trustees, Responsibllities in relation to Ihe Financial Stalements 4 Independent Examiner'8 Report 5t06 Statement of Flnancial Activities Balance Sheet Statement of Cash Flows Noles to the Financial Statements 10t014 PAGE 1 BANHAM FOUNDATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS Trustees J Banham LQ Banham WF 8anham R Banham S Barry G Bramw611 MJ Hallatt M Herbert J Keightley SL Lewis T Ward Princi al Office 20 Thornsett Road London SW18 4EF Com 07325044 an Charil Re Iration Numb r 1141423 endent Examiner Russell Joseph ACA Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2 4BE PAGE 2 BANHAM FOUNDATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees who are directors for the purposes of company law, present the annual report logelher th the financial statements of the charitable company for the year ended 31 December 2022. The accounts have been prepared in accordance wlh the accounting policies set out in note 1 to the accounts and comply with the Charily's deed, the Charilies Act 2011 and "Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102112nd Edition, effective January 20191" Trustees Mr T Ward Mrs L Q Banham Ms J Banham Mr WF Banham Ms R B8nham Mr S Barry Ms G Bramwell Ms M J Hallatt Ms M Herbert Mr J Keighlley Mrs S L Lews Struclure, governance ond management Nature of goveming docum8nl The charitable company is constituted under its Memorandum of Association dated 23 July 2010. Recruitment and 8ppoinlment of trustegs The power to appoint new trustees rests with the existing trustee5 of the charity. Induction and trdining of trus188S On appointment, the decision making process of the charity is explained lo new trustees by one of the existing Trustees also provide an overview of the administrative procedures employed by ihe Foundation. Objectives and activities Public Benefit The charity provides funding to other British registered charities. The trustees confirm that they have complied with the Tequirements of section 4 of the Charib'es Act 2011 lo have due regard to the public benefit guidance published by the Charty Commission for England and Wales. PAGE 3 BANHAM FOUNDATION LIMITED REPORT OF THE TRU TEE inued FOR THE YEAR ENDED 31 DECEMBER 2022 Gr8nl-making policies Currently the Trustees, policy is to accumulate all written appeals re￿iVed and to consider them on their individual merits al each Trustee meeting. Applicants are notrfied of the Trustees, decision. The use of volunteers The charity has no paid staff, however administration is provided on a voluntary and pro-bono basis by the Banharn GTOUP. Achievements and performance The charity's objects are raising and collecting money and donations to charities registered with the Commission or any successor regulators. In line with these objects, during the year the charity gave grants to other British charities. Exce55 of Income over expenditure in 2022 was £271,020 12021.. excess of income over expenditure was £149,401). The fund balance al 31 December 2022 was £3,188,11812021'.£2,917,098}. Plans for future perlods Aims and key objectives for fulure periods The charity will continue lo provide funding to other 8rilish registered charitles In future periods. The Trustees shall hold the Funds upon trust to apply donations to such charitable bodies or inslilulions at such tirnes and in such manner as the Trustees may, in their absolule discretion, think fit, within the remit of the charf(Ys objects. Risks The TTUStees have not idenlified any major risks and they will contlnue to monitor the adequacy of Ihelr system. Rgserves polKy The Charfty Is a grant-making company and its income-generating assets are therefore held as cash deposlts. The Tru51ees apply the income derived to giving grants in accordance with the objects ol the company. In any given year. a surplus or deficit on net resources will anse.. ils size, whether surplus or fjeficit, will fluctuate and be largely dependent on the timing of donations received and grant payments made. As its income is liable to fluctuation each year, the Trustees are concerned that sufficienl reserves are retained to ensure tt can meet the objectives of the Charity for a minimum of Iwelve months ahead. 2022.. Unrestrcted £3,088,118,. Restricted £100,000 (2021.. Unrestricted £2,917,098) PAGE 4 BANHAM FOUNDATION LIMITED STATEMENT OF TRUSTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees {who are also the directors for the purpose of company law} are responsible for preparing the Annual Report and the financial statements in accordance wth applicable law and regulations. Company law requires the charity trustees lo prepare financial statement for each financial year. Under the law the Iruslees musl 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 charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees ar8 required to.. select suitable accounting policies and then apply them consistenuy., observe the methods and pnnciples in the Charities SORP., make judgements and accounting estimate5 that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subj'ect to any material departures disclosed and explained in the financial slalemenls., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue to operate. bl d) The trustees are responsible for keeping proFer accounting records that are sufficient to show 8nd explain the charitable company's Iransactions and disclose wth reasonable accuracy al any lirne th8 financial position of the charitable 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 charity and the group and hence taking the reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charlty on and signed on its behalf by.. Mr T Ward Trustee PAGE 5 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BANHAM FOUNDATION LIMITED report to the trustees (who are also Directors for the purpose of company lawl on my examination of the financial slatemenls of the Banham Foundation Limtied I'lhe charitable company,) for the year ended 31 December 2022 which oomprise the Statement of Financial Activits'es, the Balance Sheet. the Statement of Cash Flows and related notes. This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charlties Act 2011. My work ha5 been undertaken so that I might state to the charity's trustees those matters l am required lo state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibilily to 8nyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Re8ponslbilltie• and ba8is of report As the Irustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act'}. Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the ChaTilies Act 2011 I'the 2011 Act'l and In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financi81 statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fair, vlew and my report is limited to those specific matters set out in the independenl examinels statement. PAGE 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NHAM FOUNDATION LIMI ED Continued Independent Examlner'5 Statement Since the charitable company's gross income exceeded £250,000 your examiner must be member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no material mallers have come to my attention in connection with the examination giving me cause to believe thal in any material respect.. accounting records were not kept in ￿sPect of the charitable company as required by section 386 of the 2006 Act,. or the financial $tatemenls do not accord with those records., or the financial statements do not comply wllh the accounting requirements of section 396 of the 2006 Act other than any requiTement that the financial slalemenls give a 'true and fairf view which is not a matter considered as part of an independenl examination. the financial statements have not been prepared in accordance wlh the methods 8nd principles of the Statement of Recommended Practice fof accounting and reporting by charities preparing their accounts in accordance with the Financial Reporting Standard appIl￿ble in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in order to enable a proper undeistanding of the financial statements to be reached. Russell Joseph ACA Bourner Bullock Chartered Accountants 114 Sl Martin's Lane Covent Garden London WC2N 4BE Date.. 2910812023 PAGE 7 8ANHAM FOUNDATION LIMITED TATEMENT OF FINANCIAL ACTIVITIES includin Income & Ex endil ieA unt FOR THE YEAR ENDED 31 DECEMBER 2022 Total Funds 202 Total Funds Unreslricled Funds Reslricled Fund Income Donations and Lègacles Inveslmonl Income 516,807 6,384 100,000 616,807 6,384 471,117 265 TOTAL INCOME 523,191 100,000 623,191 471,382 ndlturfr Charltsble Activllie8'. 352,171 352,171 321,981 TOTAL EXPENDITUR 352,171 352,171 321,981 Nel movemenl in lund8 171.020 100.000 271.020 149,401 Total Funds Brought Forward 13 2,917,098 2,917,098 2,787,697 Total Funds C8rrted Fo￿ard 3.088,118 100.000 3,188.118 2,917,098 All of the charitable companys activities derive from conllnuing operation8 dudng the above periods. PAGE 8 BANHAM FOUNDATION LIMITED BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2022 (Registration number: 07325044) 2021 Current A880ts Cash at Bank and In Hand 3.191,718 2.945,458 3.191,718 2.945.458 Amount¥ falling due Within One Year 10 (3,6001 128,3601 N•t Current AJ¥•ts 3,188,118 2,917,098 rront Llabllltl08 3.188,118 2,917.098 un Restricted Funds Unrestricted Funds 100,000 3,088,118 2,917,098 3,188,118 2,917,098 For the financial yèar ending 31 Decernber 2022 the charity was enlilled to exemption under section 477 of the Companies Act 2006 relating lo small companies. No Truste88 have required the Company to obtain an audrt of ils accounts for the year in question in accordance Y￿th section 476. The Trustees acknowledge their responsibility for.. lil Ensuring the Comp8ny keeps accounting r8cords which comply wth section 386,. and lill Preparing accounts which give a true and lair view of the state of affairs of the Company as at the end of ils financial year. and of itg profil and loss for the financial year in accordance wth section 393, and which olhewse comply with the requirements of the Companies Act relaling lo accounts, so far as applicable to the Company. These account5 have been prepared in accordance vthh the provisions applicable lo companies subject lo small Gompanies, regime within Pt 15 of the Companies Act 2006. nanci I st tement8 on pages 7 10 14 wer8 approved by the trustees, and authorised for issue on and signed on their behalf by.. Mr T Ward Trustee PAGE 9 BANHAM FOUNDATION LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 (Regislrth'on number.. 073250441 To Funds 22 Total Funds Cash flovts from operatlng activltlgs Nel movement In fund8 Deduct interest income shown In Investlng aclivlllfro IDecr8aselllncrea5e in creditors 271,020 16,3841 124,7601 149,401 12651 25.000 Nel cash used In operating activities 239,876 174,136 Cash flows from Invo•tlng •ctlvltle• Interest and dlvidends 8,384 285 Nel cash provided by investing actlvlles 6,384 26S C•8h flow8 from f5nanclng actlvltl•* Net cash provlded by financing activities Change In cash and cash oqulvalent* tho yo¥r 248,280 174,401 Cash and cosh equivalent bioughl fo￿ard 2,945,458 2,771,057 Cash and cash gqulvalgnts carrlod forward 3,191,718 2,945.458 PAGE 10 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 AccountSn PolS¢le8 Summary of Blgnlflcant accountlng pollcies and key accountlng estlfflat The principal accounting policies adopted, judgements and key sources of eslimatson uncertainty in the weparalion of the financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise slated. 8asis of Preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102112nd Edition, effective January 2019) {Charilies SORP FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Banham Foundation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost OT transaction value unless otherwise stated In the relevant accounting policy notes. Going concern Al the time of preparing the financlal statements the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial stalements. Income Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is Tecognised when the charity has entitlement lo the income. it is probable that the income wll be received and the amount can be measured with sufficienl reliability. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditu￿, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed to particular headings they have been allocated on basis consistent with the use of resources. PAGE 11 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENT Conllnue FOR THE YEAR ENDED 31 DECEMBER 2022 In Poll¢les contlnued Charltable actlvltles Charitable expenditure comprises those c08ts incurred by the charity in th& delviery of ils aeliville8 and services for it5 beneficiarie3. 11 includes both costs that can be allocated directly lo such activitie8 and those cos15 of an indirect nature necessary lo support them. Grant Provlslons Provislons for grants are made when the Intentic￿ lo make 8 grant ha8 been communicated lo the recipient bul there IB uncertalnty about elther the Ilming of the grant or the amount of grant Pgy8bl•. Governanc• costs These include the costs allribulable lo the cha￿11$ compllance vllh conslllullonal and slalulory requirements, including independent examination, Strategic man8g8menl and Iruslees, meetings and reimbuT69d expenses. Taxatlon Thè charity Is considered lo pass th¢ tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore 11 meets the definition of a chaTilable company for UK corporation tax purposes. Accordingly, the charlly Is exempl from taxallon In respect ol Income or capital gains received within categories covered by Ch8PteT 3 P8rt 11 of the Corporation Tax Act 2010 or Section 256 01 the Taxallon of Chargeable Gains Act 1992, to the extent that such income or gain5 are applied exclusively to charitable purpose8. Flnanclal Instrument• The trust only h93 financial assets 8nd financi81 li8bilth'•s of a kind Ihat qU811fy 88 baslc lin8nci81 instruments. Basic financial instruments ore initially re￿niSed at Ironsacli¢Jn value and Subsequently measured at Ihelr settlement value wllh the excepbon of loans are subsequently measured al amortised cost using the effectNe interest method. C•sh and cash equlvalenls Cash and cash equivalents comprise cash on hand and call deposits, and other short-leTm highly liquid investments that are readily convertible lo a known amount of cash and are subject lo an insignificant risk of change In value. Trade credltors Creditors and wovi5ions are recognised where the chanty has a present 0￿iga￿.0n resulbng from past event that wll probably result in the transfer of funds lo a Ihird paty and the amount due lo settle the obl￿allon can be measured or trslimaled reliably. Creditors and provisions are normally recogni5ed al their settlement amount after allwng for any trade discounts due. PAGE 12 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 coun Poll¢l•8 Fund accountlng Unrestricted income funds are general lunds th&t are 8v8il8ble lor u58 31 the tru31eeB' discretson in furtheranrKg of the 0tr4'eclives of the charity. All funds lor Ihis aThY the previou5 period aT8 unr85tricted. Judgement$ 4nd key •ourc•• of o•tlm•Uon uncertalnty The preparation ol the financial statements r￿UireS m8nagement lo make jvdgem8nt5, e8b'mBleB and 85surnptions th8t 8ffect the arnounts reported lor assets and Iiabilits88 as at thè balance shèet dale and the 8mount8 reported for income and expenges during the year. However, the nature ol estlmalion mean5 th8t 8ctU81 out￿M¢S could differ thoBe •5tirnat8s. In the Trustees, oplnion there are no significant judgements or key sourc￿ of 88limatson unc8rt8inty. Total Funds Totjl Funds Unreslflcted Funds ReBlrict8d Regular gi￿n0 and donatlons Legacies 516,807 516,807 100,000 471,117 100,000 518.807 1￿,000 616,807 471,117 2022 nve8¢ment In om Intere51 receiv8ble on bank d•p08its 6.384 285 265 Unrestncted und Restricted Total Total Providing grants (see Note 81 Govemance costs Isee Note 71 Support COStB- bank charge8 348,325 3,840 348.325 3.840 318,596 3,380 25 352,171 352,171 321,981 AGE 13 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS Continued FOR THE YEAR ENDED 31 DECEMBER 2022 Gr nt- makSn Grants lo inslilulions Analy818 of grant8 Health and welfare Saving Lives Educalion Community Development The Arts 257,354 12,500 33,971 19,000 25,500 348,325 Grants lo inslilulions Matfrrlal GrantB- N•rno of In8tltutlon Royal Marsden Cancer Charity Macmillan Cancer Support The Beam Foundation Marlow Opportunity Playgroup Prisoners, Education Trust Leighlon Hou¥e Roy81 Opera House Royal National Lifeboat Inslilulion Shooting Stars Children's Hospices Polka Theatre Young and Inspired Queen ElYzabelh'8 Foundation for Disabled People Other inslilulions 185,274 45.000 30,000 18,680 10,000 10,000 10,000 10,000 8.080 6,000 5,000 3.000 27,291 348,325 Net Incomln lout oln Nel outgoin9 resources for the year include.. resource8 2022 2021 Independent Examinerfs remuneration 3,840 3.360 3,840 3.360 PAGE 14 NHAM F NDAT N LIMITED TH (Continued) OR THE YEAR ENDED 31 DECEMBER 2022 There ￿re no employge8 during the year, or the prèvloub y•ar. lo ex ns85 No trustees, nor Bny person8 connected wth them, have recelved any remun8raticn from the ch8rity durlng Ihe year 12021.. £NIII. No tru51ee8 have received relmburged expen6e8 or any other benefits from the charrty during the year12021.' £Nill. 10. - Amounts falling due Within One Year Grant Creditors Accru8ls 25,000 2,360 3.6 3.600 28,360 The charity is a prlvAle company limilod by guarantee and consequently dDeS not have Share c8pilal. Each DI the tru3lee3 is Ilable lo conlribule an 8mount not exceeding £10 lowBrd5 the assets ol the charity in the event or Iluldatlon. 12. During thè year unrejlricted don8tion8 received Irom the Trustee8 8n(J companie8 under cL)mmon control totaled £516,80712021- £471,117). The Chgrity mgd* 4 donalj'on of ENIL12021.£10.0001 lo the Chdsllna Noble Chlldren's Founrlauon Llmlled. Thomas W8rd 18 a tru8tee ol the Chanty chairmAn of thtr board ol trustees of the Christina Noble Children'$ Foundation Llmlied. 13. 8alaTrce 88 at 01 January 2022 Incoming R880urr*5 ReBource8 Expended BBlanct 88 at 31 December 2022 Unreslricled R081rietèd Totsl fundg 2.917,098 523,191 100,000 623, 191 352,171 3,088,118 100,000 3 188 118 2 917,098 352,171 The fund is re3tri¢led for Ihe benefits ol spe¢xfic charitable groups Ihat support those left behind in accordance with the wishes ol the donors to that fund.