BANHAM FOUNDATION LIMITED Com an No.. 07325044) Ch8rit No.. 1141423) IA company Ilmlled by guaranlee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BANHAM FOUNDATION LIMITED CONTENTS PAGE Reference and Administrative Details Report of the Trustees 2103 Trustees. Responsibilities in r6lalion to the Financial Statements 4 Independent Examlner's Report 5t06 Statement of Financial Actiwties Balance Sheet Statement of Cash Flows Notes to the Flnanclal Statements 10t014
PAGE 1 BANHAM FOUNDATION LIMITED REFERENCE ANO ADMINISTRATIVE DETAILS J Banham LQ B8nh8m WF B8nham R Banham S Barry G Brarnvjell MJ Hallatt M Herbert J Keightl8y SL Lewis T Ward Prlnci al Office 20 Thornsett Road London SW18 4EF Com 07325044 an istrallon Number hari 1141423 Russell Joseph ACA Boumer 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 2023 The trustees who are dlrectors for the purposes of cornpany law, present the annual report togethèr with the financial slalemenls of the charitable company for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's deed. the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102112nd Edition, effective January 20191" Trustee8 Mr T Ward Mrs L Q Banham Ms J Banham Mr WF Banham Ms R Banham MrSBary Ms G Bramw811 Ms M J Hallall Ms M Herbert Mr J Kelghlley MrsSLLths structurè, govérnance Jnd rnanagwnefflt Nalure of goveming document The charitable company18 con8lltuted under Its Memorandurn of Association dated 23 July 2010. Rocniilm8nl and 8ppointment of trustees The power to appolnt new trustees rests wllh Ihe exSstlng truslee8 of the chaTIty. Induction and trainlng of trustees On 8ppointment, the decision making process of the charity is explained to new Irustees by one of the existing Trustees who also provide an overview of the administrative procedures employed by the Foundalion. ObJ•ctlvo8 and activities Public Benefit The charity provides funding to other Brit15h registered charities. The trustees confirm thal they have complied with the requirements of sectlon 4 of the Charities Act 2011 to have due regard to the public benefrt guidance published by the Charity Commission for England and Wales.
PAGE 3 BANHAM FOUNOAT TED REPORT OF THE TRUSTEES Continued R THEY EM8ER 202 Grant-making poliGies Currently the Trustees, policy is to accumulate all written appeals received and to consider them on Ihelr Indlvidual merits al each Trustee meeting. Applicants are nolrfied of the Trustees, decision. The use of volunt8ers The charity has no paid staff, how8vgr administration is provided on a voluntary and pro-bono basis by th& 8anham Group. Achlevèmont• and performance The charity's objects are raising and collecting money and donations to charities registered with the Commission or any successor regulators. In Iln8 wAth these objècts, during the year the charity gave grants to other British charities. Excess of expendlture over Income in 2023 was £179,309 12022.. excess of Income over expendlture was £271,020). The fund balance at 31 December 2023 was £3,008,80912022: £3,188,118). Plan• for futura porlods Alms 8nd key objectiV8s for future periods The charlly wll continue tc provlde funding to other 8ri11sh registered charities in future periods. The Trustees shall hold the Funds upon trusl to apply donations to such charitable bodies or institutions at such times and in SLtch manner as the Trustees may, In their absolute discrellon, think fil, within the remit of the charitvs obj8cIs. Risks The Truslees have not idenllfied any major risks and they will continue to monitor the adequacy of their System. Res8rves policy The Charity is a granl-making company and its income-gener8ting assets are therefore held as cash d8posits. The Trustees app the income derived to giving grants in 8ccordance with the objects of the company. In any given year, a surplus or deficit on nel resources will arise.. its size. whether surplus or deficit. will fluctuats and be largely dependent on the timing of donations received and granl paymenis made. As it5 income is liable to fluctuation each year, the Trustees are Goncerned that sufficient reserves are retained to ensure 11 can meet the objectives of the Charity for 8 minSmum of 1ve months ahèad. 2023.. Unrestricted £2,908.809'. Restricted £100,000 {2022'. Unrestricted £3,088,118,, Restricted £100,000)
PAGE 4 BANHAM FOUNDATION LIMITED STATEMENT OF TRUSTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financlal statements In accordance with applicable law and regulallons. Company law requires the charity trustees to prepa financial slalement for each financial year. Under the law the trustees must prepare the financial slalemenls in accordance wllh United Kingdom Generalty Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the trustees must not approve the financial statements unless they are satisfiad that they give a true and fair view of the state of 8ffairs of the charitable company and of the incoming r8s0urces and applicatson of resources, includlng the income and expendlture, of the charitable company for that period. In preparlng th8se flnancial stat8m8nts, th8 trustées are required to.. se18cI suitable accounting policies and then apply them consistently. observe the methods and prlnciples in the Charities SORP; make ludgemenls and accounting estimates that are reasonable and prudent-, State thether applicable UK Accounting Standards have been followed. sublecl Io any material departures disclosed and explained in the financial statements,. 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 dl The Irustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company's Iransacllons and dlsclose %Mlh reasonable accuracy at any time Ihe financial position of the charitable company and enable them lo ensure that the financial statements comply with the Comp8nies Act 2006. They are also responsible for safeguarding the assets of the charfty and the group and hence laklng Ihe reasonable steps for the prevention and det8Ctlon of fraud and other Irregularities. Approved by the trustees of the charity on . JoJ4 and signed on Its behalf by.. Mr T Ward Truslee
PAGE S INDEPENDENT EMMINER'S REPORT TO THE TRUSTEES OF BANHAM FOUNDATION LIMITED report to the trustees (who 8re also Directors for the purpose of company law) on my examination of the flnanclal slalernents of the Banham Foundatlon Llmited {'the charitable company,) for the year ended 31 December 2023 which comprise the Statement of Financial Acllvities, the Balance Sheet. the Slalement of Cash Flows and related notes. This report Is made solely to the ch8rity's Irustees, as a body, In accordance with section 145 of th8 Charities Act 2011. My work has been undertaken so that I might stat8 to the charity's trustees thos8 rnatters l affl required to state to Ihem in this report and for no olher purpose. To the fullest extent permitted by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslees a$ a body, for my work, for this report. or for the opinions I have form8d. R08pon8lbllltl•8 and baBl8 of report As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance with the requlrements of th8 Compani8s Act 2006 (Ihe 2006 Act'l. Havlng satisfied myself thal Ihe financial statements of the charitable company 8re not requlred lo be audited under Part 16 of the Act and are eligibl8 for independent examination, I report in respect of my examinatlon of the charitable company's financlal slalements carried out under section 145 of the Charlties Acl 2011 {'Ihe 2011 Acl'} and In canylng out my examlnation I have followed all th8 appllcable Dlrectlons given by the Charity Commlssion under sectlon 145(5){b) of the 2011 Act. An independent examination does not Involve g8thering all the evldence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving Ihelr oplnion on th8 flnanclal slalemenls. The planning and conduct of an audlt goes beyond Ihe limited assurance that an independent examinatlon can provide. Consequently l express no oplnlon 8S to whether the financial statements present 8 'lrue and fair. vlew and my report Is limited lo those specific matters set out in the independent examiner's statement.
PAGE 6 INDEPEND NT po HETR TEE OF BANHAM FOUNDATION LIMITED Continued Independent Examiner's Statement Slnce the charltable companys gross Income exceeded £250,000 your examlner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l 8m qualified to undertake tho examinatlon because l am a member of ICAEW, which is one of the Ilsted bodles. I have completed my ex8minalion. I confirm th81 no material matters h8ve come to my attention in connection with the examination giving me cause to believe that in any material respect.. accountlng records were not kept In respect of the charftable company as required by section 386 of the 2006 Act. or the financlal slatements do not accord wllh tho88 records. or the 1Sn8nci81 statements do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requlremenl that the financial slalem8nts give a 'true and fair, view which is not a matter considered as part of an independent examination. the financial statements have not been prepared in accordance wilh the methods and prlnclple5 of the Slalement of Recommended Pr8Ctlce for accounting and reporting by charities preparSng Ihelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable in the UK and RepublSc of Ireland IFRS 102). I have no concerns and have come across no other matters in connection with the ex8min8lion to which attention Bhould be drawn in this report in arder to enable a proper understandlng of the financial statements to be reached. Russell Joseph ACA Bourner Bullock Chartored Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE Dat8: 02.09.2024
PAGE 7 BANHAM FOUNDATION LIMITED STATEMENT OF FINANCIAL TIVIT ncludin Ex FOR THE YEAR ENDED 31 DECEMBER 2023 Totsl Fund8 202 Total Funds 022 Unrestricted Fund8 Restricted Funds Notes Incom• Don811on8 and Logacles Investment Incom8 206,814 50,932 206,814 50,932 616.807 6,384 TOTAL INCOM 257,746 257,746 623,191 •ndltur Chorltsble A¢tivltie$'. 437,055 437,055 352,171 TOTAL EXPEND 437.055 437.055 352,171 Nel movemenl In fund8 1179.3091 1179,3091 271,020 Total Fund8 Brought Forwar(I 13 3,088,118 100,000 3,188.118 2.917.098 Totsl Funds Carrled Fon¥8rd 2.908,809 100,000 3,008.809 3,188,118 Al of the c*arilable companls activllles derfjve from conunulng operation8 durSng the gbovo perlod8.
PAGE 8 BANHAM FOUNDATION LIMITED BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 IRegistr81ion number: 073250441 2022 Current Assets Debtors Cash al Bank and In Hand 10 20,041 2,992,608 3,191.718 3,012.649 3.191.718 Credltor•: Amounts falling due Within One Year 11 13,8401 13.600) Net Current Auets 3,008,809 3,188,118 Tot•1 A•sets Le80 Currgnt Llabllltles 3,008,809 3.188,118 R&slricled Funds Unwslricted Funds 100,000 2,908,809 100,OC(I 3,088,118 3,008,809 3,188,118 For (he financi81 year ending 31 Oecembor 2023 the charity was entitled lo exemption under section 477 of the Companies Act 2006 relating lo small companles. No TSleeS have required the Company to oblaln an audll ol ils 8ccount5 for the year In que5ts.on in accordance th section 476. The Trustees ackno1edge Ihelr responsiblllly for.'1S1 Ensurlng the Company keeps accountSng records which comply with seclion 386,. and lill Preparlng accounts whlch give a true and falr vlew of the state of affairs of the Company as at the end of its Ilnancial year. and of it5 profit and loss for the financial year in aor(lance wilh section 393, and which othemlse comply wllh the requirements of th6 Compani85 Act relating lo accounts. so far as applicable lo the Company. The58 accounts have been prepared in accordance wlh the provisions applicable to cornpanles subject to small companies, regime within Pl 15 of the Companies Act 2006. The financial statements on pages 7 10 14 were approved by the trustees, and aulhorised for issue on ..&.knW &2* and slgned on Ihelr behalf by.. Mr T Ward Trustee
BANHAM FOUNDATION LIMITED STATEMENT F CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 IReoi8tration number: 073250441 Total Fund$ 2023 Totsl Funds 2022 Ca¥h flow from opornting activitl Nel movem8nl in fund8 Deduct Snlergst Income shown In Invesllng actfvltle8 (Decreaseylncreaso Sn cr8dilor8 1179,3091 50.932) 240 271,020 16,3841 124,7801 Nel cash used In opèrafjng actlvSlle8 1230.0011 239,876 Cash flows from Inv••tlng actlvltl•• Inter881 and dlvldends 30,691 6,384 Nel ca8h provlded by Invesllng actiwles 30,891 6,384 Cijh flowB Irom fln•nclng actlvlti Nel cosh provided by financing activities Chnge In e4ih and cash •qulval8nti In th• y••r {199,1101 246.260 Cash and cash equiv8lent brought fw8rd 3,191,718 2,945.458 Clih and cuh equlvalent• ¢arrl•d faThv•rd 2,992,608 3,191,718
PAGE 10 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS R THE YEAR ENDED 1 DECEMBER 202 Accountln P Ilcle Surnmary of slgnlflcant accountlng pollcles and key accounting estlmate• The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial stalemenls are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 8asl$ of Prnparatlon The finan81 statements have been prepared In accordance wlth Accounllng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordanc8 With the Finandal Reportlng Standard appllcable In the UK and Republic of Ireland {FRS 1021 (2nd Edilion, effective January 20191- (Charitles SORP FRS 102), the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies AGt 2006. Banham Foundatlon Llmited meets the definlllon of 8 publbc benefll entity under FRS 102. Assets and Ilabililies are Initially recognised at hlstorlcal cost or transactlon value unle88 Otherwise slated In Ihe relevant accounting polScy notes. Golng concern At the lime of preparing the financial statements the Trustees have a reasonable expectation that the charity has ad8quate resources to continue in oper81ionel existence for the foreseeable future. Thus the Trustees continue lo adopt thè golng ¢oncèm basls of accounting In preparlng the financial statements. Income Volun18ry income including donatlons. gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has enlillement lo the income, it is probable that Ihe income will be received and the amounl can be measured with 5ufficlent reliability. Expendlturo All expendlture is recogni58d once there Is a legal or constructive obligation to thal expenditure, It Is probable settlement is required and the amount can be measured reliably. All costs ar8 allocated to the applicable expenditure heading Ihat aggregate similar costs to Ihat category. Where costs cannot be directty attributed lo particular headings they have been allocated on a basis consistent with the use of resources.
PAGE 11 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS Continued FOR THE YEAR ENDED 31 DECEMBER 2023 countin Poliei•8 eontinu•d Ch•rltable IvItIeS Charitable expendrture comprise5 those costs incurred by the charfty in the delviery ol 115 activities and services for its beneficiaries. 11 includes both costs that can be allocated dir8Ctly to such aCb"v1a8 and those costs of an indirect nature necessary to support them. Grant Provlslon8 Provisions for grants are made when the inlenlion lo make o grenl has been communicgted to Ihg recipient but there is uncertainly about either the liming of the grant or the amount of grant payable. Go¥ernanc• cogts The88 Include the costs aitrlbulable to th8 ch8rltV8 Compl18n wlth con8tilLth'onal and Statutory requiromgnts, including indgpgndenl ex8mln811on, str8tegic management and Iruslge8' meelSngs and reimbursed expenses. Taxatlon Thè ch8dty is considered to pass Ihe tests set out In Paragraph 1 Schedule 6 of thè Flnance Act 2010 and therefore il meets the defSnilion of a ch8rit8ble comp8ny for UK corporation lax purposes. Accordingly. the charlly Is exempl from taxatlon in re8cl of incomo or capital gain5 received wilhin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeabl8 Gain8 Act 1992, 10 the exlenl that Such incorne or galns art applied 8xcIu51vgly to charltsblo purposes. Flnanclal InBtrumgnts The trust only has finantial assets and financi81 li8bi11ti88 of a klnd th81 quallfy as b881c Iln8nclal Instruments. Basic Iln8ncial in8trumenls are in1.allY recognS88d al Iransadon value and subsequ8nUy measured ot theiT 8elllemenl value with the exception of loans whoch ar8 subsequently measured al amortised cost uslng the effective Interest method. Debtor• Debtors Incktdlng accrued income are measured on Inlllal recognlb'on al the cash or other consider8tion expected lo be received. Caoh and cash equlvalents CBsh and cash equiv81ents comprfse cash on h8nd and call deposSts, and other 8hort-lerm hlghty liquid investments that are readily conv8rbble to a known amount of cash and arg sublt to an In8lgnthcanl risk of change in value. Cr•ditorn Creditors and provisions ara recc¥3nised whore the charity has a present obligation resulbng from past event that will probably result in the transfer of fund5 to a Ihird party and the amount due to setue the obligation can be measured or esllmated reliably. Creditors and provisions are nomially racognised at their settlement amount after allowing for any trade discounts due.
BANHAM FOUNDATION LIMITED TH NANCIAL STATEMENTS C ntinued FOR THE YEAR ENO 1 DECEMBER 2 countln Polltles contlnu•d Fund accountlng Unrestrlcted Incorne fund8 are q8nerBI funds that are av8ilable for use 81 Ihe truslee8' iJIs¢tn In lurthgr¥rKg 01 objective¥ of Ihg charity. All lun¢J$ this and PWIDUS P8riod are Lras1Cted. Judgem•nts and key •our¢•• ol e*tIMOn uncertalnty The pr8paratlon of the Ilnanclal st818rn•nls requir rn8n8garnent lo make ludg8m8nts, •5mateS and a86umpt4ons that affeel the arnounts reported for ajiels and &abillUes as at the balance sheBI date and the amount8 reporied for Income and expense5 durlng the year. Ho%4tver, the ngture ol e5tirnolion meBn5 that actual outcomes could differ frorn tho8e estlrnal88. In the Trustees. op1n1 there 8r8 no significant iudgernent8 or key sources 0188tlmalcffj urtainty. ne4)m• fro Don#tlon8 an Total Fund8 Total Fund8 Unr#8trlct•d Restrlctad Regular givlng and donatlon8 Legades 206,814 206,814 516,807 100.000 206,814 206,814 616,807 2022 Int¥ro$t rs¢eivobl¥ on bank d$p08its 50,932 50,932 UnfaStfiCt•d Rastrictgd Total Total •ndltur• on ¢harf bl• actlvltle ProvldSng gr8nts1$o• Note 61 Govemance C05ts15ee Note 71 Support costs- bank charges 432,974 4.080 432.974 4.080 348,325 3.840 437,055 437.055 352.171
PAGE 13 BANHAM FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS Continu OR THE YEAR ENDED 31 DECEMBER 2023 Grant- makln Gronts to insdtutlon5 Analysis of grants Health and welf8re Community Development Saving LIV86 The Arts Childr8ns' Servic88 250,043 92,155 47.740 31,436 11,600 432,974 Grants to Institutions Materlal Grjnts: Name of Institutlon Royal Marsden Cancer Charlty Macmillan C8ncer Support Solace Womens Ald Watts Gallery- Curatorial Chdslina Nobl8 Chlldrens Foundation 8rlllsh Llver Tru81 Royal Ar ForGg 8enevolenl Fund Royal Trinity Hospice Elizabolh Fry Charity Family Holid8y Charlty Onwards & Upwards Ch8AIy ThrSvefll Chartly Drama Exprosslons Other Institutions 166,833 47,600 40,000 27,236 26.000 25.000 10,000 10,000 9,430 9,600 9,125 6,610 6,000 39 540 432,974 out oln Nel outgolng resources for the year Indude= rnsour 2023 2022 IrKlependenl Examinerfs remunerats'on 4,080 3,840 4,080 3,840
PA NHAM FOUNDATION LIMITE IALS ATE (connued) R THE MBER 2 There Wfj no ¢mpWe6 duriw th8 year, orlhe prevlous year. Tru•te8s remunoratlon and ax No trustees. nor any pers[0 connected with thern, haw receivod any remuneralion from the Charity durfng the Or 12022.. £NIII. No trustees have recelvod relmburnod expen8t8 or anyother from the tharlty thJrhG the year12022', ENIII. 2022 10. Qoll2- Amounts fallln9 du? thIn one yr Acuu•d Inc¢)m• 20,041 20,041 gLloN. Amounis falhg du8 th1Th ona Accruals 3.840 3,600 3.840 3,600 Tho charMy18 a prfv8le cpanY MIled by w8r8ntee ond con80quentJy does nol h8ve 8haro capNal. Eath ol tho trustees is Ilabb lo conlrlbute on •rnount Thot exceedn9 £10 towwd$ Ihe ¥g•et• of the charfty in the event Ilquidation.
PAGE15 BANHAM FOUNDATI N LIMITED TES TO THE FINANCIAL STATEMENT (Continued) R THE YEAR ENDED 1DE EMB 13. During Ihe ye8r unrestrfcted donallonB tocoivod Ircffi the TrvBteas 8nd companle8 under common control total•d £206.81412022.. £516,807). The Charity made a donation 01 £26,00012022.' £NIII lo the Christina Noble Children's Foundation timlted. Thomas Ward 16 8 trustee of the Charity ond th8irman ol the board of tru6tees ol the Chrl8Wna N¢)ble ChSldren'$ FoJndAiion Llmltèd. 14. Balance 85 at 01 JAnugry 2023 Incomlno R•SrceS Resource8 Expended B81once a8 al 31 December 2023 Unreslrfctqd Re¥trlcted Total fund¥ 3,088,118 100,01)0 3,188,118 257,748 437.055 2.908,809 100,000 3,008,809 257,746 437,055 The fvnd 18 r88trfcted for the n•fits of ipadfic charttable group8 Ih81 oupport thooe left behind in acccffdanco th the wl8he8 of thè tlon¢y8 to that lund.