Charity registration number 1145679
Company registration number 07839372 (England and Wales)
THE CAMELLIA FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE CAMELLIA FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees M A Knight Dr T Y Takla S C Turner C P Smith Chief Executive Officer S Buckland Charity number 1145679 Company number 07839372 Registered office The Scalpel 18th Floor 52 Lime Street London United Kingdom EC3M 7AF Independent examiner S Jennings FCA Azets Audit Services Globe House Eclipse Park Sittingbourne Road Maidstone Kent United Kingdom ME14 3EN Bankers CAF Bank Limited 25 Kings Hill Avenue West Malling Kent United Kingdom ME19 4JQ
THE CAMELLIA FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 - 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 21 |
THE CAMELLIA FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2024
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)".
Objectives and activities
The Charity was incorporated on 8 November 2011 with company registration number 07839372 and registered with the Charity Commission in January 2012 with charity registration number 1145679. Its registered address is as set out on the Legal and Administrative page. The Charity’s purposes are as follows.
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To prevent and relieve poverty, financial hardship and sickness of both able-bodied and disabled people for the public benefit, especially those in developing countries and those of Tibetan origin, by providing or assisting with the provision of education, training, healthcare, projects, and all the necessary support designed to enable individuals to be self-sufficient (where possible) and to live fulfilling lives.
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To promote, for the public benefit, the education of people, especially those in developing countries and those of Tibetan origin, including the funding of educational facilities and their staff, making grants, loans and bursaries, and providing, or assisting with the provision of, opportunities and benefits incidental to such education.
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To promote, for the public benefit, the education of people, especially those of Tibetan origin, in the culture and way of life of Tibetan people, and to preserve and promote all aspects thereof.
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To promote religious harmony, for the public benefit, by encouraging or assisting with the encouragement of the development of knowledge, mutual understanding and respect for the beliefs and practices of different religious faiths.
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To promote the conservation, protection and improvement of the physical and natural environment, especially in developing countries, for the public benefit, including by providing, or assisting with the provision of, education and any other project.
The achievement of our objectives is primarily dependent on the ability of those we support to implement their plans; this is not always straightforward, particularly in developing regions.
Our primary goal is to develop relationships which exist through our Directors/Trustees, and identify and build new relationships with established organisations which allocate funding in the areas to which our objects relate. Where we believe that these organisations share one or more of our purposes, and are efficient in their use of resources, we will consider providing them with funding. Another key objective is the direct funding of projects which fall within our objects. We anticipate, as a grant-making body, receiving requests to provide such funding as part of a broad request for donations. Thirdly, we envisage funding individuals directly where their activities fall within our objects. Developing and maintaining strong links with individuals who are engaged with activities relating to our charitable purposes is likely to provide mutual benefits as our work progresses.
The Directors/Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the guidance contained in the Charity Commission’s general guidance on the public benefit when reviewing the Foundation’s aims and objectives and in the planning of future activities.
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THE CAMELLIA FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Achievements and performance
We have continued to build on our relationships with existing and new donee organisations.
The Charity judges its impact on the quality of the relationships developed with its beneficiaries, who themselves so positively influence their communities. We are pleased to note that our activities fell within our budgeting, and that we were able to provide additional support where necessary.
Donations made in the period totalled £524,458 (2023: £535,798) of which £20,000 (£2023: £0) was restricted. Approximately 47% of this amount was committed to educational purposes, including funding for a small boarding school for children of agricultural workers in Bangladesh and a non-profit organisation in a Somerset town set up in 2018 which runs a project focusing on the power of kindness to improve society (e.g. mental health outcomes), and a charity in Malawi which funds educational projects. Around 15% was committed to organisations which aim to preserve Tibetan culture, including support for a UK charity which has been working to document, record, archive, and make accessible the living cultural legacy of Tibet and also support for a Buddhist Meditation and Training Centre situated in South London. About 22% was committed to health organisations, including grants to assist an organisation preventing disability in rural Bangladesh, a Swiss Charity that trains assistance dogs for people with disabilities, epilepsy and diabetes and also a project to increase societal awareness of the carcinogenic effects of betel nut chewing and, through molecular testing develop an early-stage test. Approximately 10% of funding went to organisations working towards relief of poverty, including a community facility in Montreal, Canada, which offers programs designed to promote self-reliance, growth and fulfilment. The Charity also continued funding projects which protect the natural environment and the promotion of religious harmony.
Our donees were primarily located in Bangladesh, Canada, Germany, Switzerland, the UK and the USA; their beneficiaries were situated in these and other countries, including India, Kenya, Malawi, Myanmar, and Tibet.
Financial review
During the period under review, the Charity relied on a principal donor for its income, although it has in the past received donations from other sources.
We should like to thank our principal donor, and particularly our Charity Trustees, whose time and talents remain crucial to the Charity’s continuing work.
The financial results of the Charity are set out on pages 6 to 8.
Income for the year amounted to £877,387 (2023: £726,483).
Expenditure during the year totalled £814,361 (2023: £843,025), including charitable grants approved of £524,458 (2023: £540,798). The main recipients of the grant payments are set out in note 6.
The net income for the year amounted to £63,026 (2023: £116,542) and total funds at 30 June 2024 therefore amounted to £141,507 (2023: £78,481) of which are £61,507 are unrestricted and £80,000 are restricted.
Reserves policy
The financial policy is decided by the Trustees in regular meetings so that funds can be distributed in accordance with the articles of association.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least six months' expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The closing balance was £61,507 which whilst temporarily below that set in the policy, was restored three days after the year end following a substantial credit from our principal donor.
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THE CAMELLIA FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
Future activites
Donations made in the period to 31 December 2024 totalled £269,764 (2023: £244,261). As well as continuing to work with existing beneficiaries, and in line with our object to prevent and relieve poverty, we provided funding for an emergency appeal to help those whose lives have been devasted by flooding in Bangladesh as well as funds for a UK charity which supports people with a learning disability and high support needs to live full and productive lives through their active contribution, inclusion and participation within their local community.
We anticipate making more contacts with organisations in the fields which are covered by our objects and, where possible, will begin to develop initiatives which we can either deliver by ourselves, or encourage others to deliver. There is a great deal of potential for making small amounts go a long way, and we hope to join with efficient, well run organisations to make a beneficial impact in our local and global community.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The Directors/Trustees have reviewed the major risks to which the Charity is exposed and systems have been established to mitigate those risks. All grants have to be notified to all Trustees, and those above £5,000 approved by the Donations Committee.
Structure, governance and management
The Charity is a company limited by guarantee, governed by articles of association and regulated by both company and charity legislation.
The Trustees who served during the year and up to the date of signature of the financial statements were:
M A Knight Dr T Y Takla S C Turner C P Smith
In the event of the dissolution of The Camellia Foundation any net remaining assets of the Charity shall be applied or transferred in any of the following ways:
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directly for the charitable objects; or
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by transfer to any Charity or Charities for purposes similar to the objects; or
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to any Charity or Charities for use for particular purposes that fall within the objects.
Under the articles of association, applications for statutory membership of the Charity are considered by the Board of Trustees, and either the trustees or the members may appoint trustees (who must also be statutory members of the Charity).
At 30 June 2024 there were 4 statutory members each of whom had a personal liability not exceeding £10 in the event of the charitable company being wound up while they are members or within a year thereafter.
The Board of Trustees meets at least on a quarterly basis, and there are two committees of the Board, a donations committee and an accounts review committee, which meet as and when appropriate to fulfil their functions.
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THE CAMELLIA FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 TNsta•s are briefe•J prtor to me81ings aThJ Whaer dse is n$$. prattal. Trust995 are at40 to m891 benef"ary Orwisath"8. •KJ Ilw are reguLqrty infcrfmed a5 to the naturn of the benoficiaries 9enwaly,' training on important board issu•s is also consKlw•J pwrtsjtalty. Any new trustee wotAd meet ¥wth all of the Tru8te8sltl"roctors yi¢x tr) th irNitsd onlo t boarf and %Ul th8n bg comwthensivdy by them throu th8$810 of the VIOn of IM C"ty, as as ts F<Jlici8$ WcadeS. S BLKkland was appohtted Chitf Executi x 1 Deeémbw 2023 folbwlrs a trsIon of flftoon months Wng with t irLumb8nt CEO to wwjre ordety Iw¢J over crf rBsponsit'litses. In d8ath.ng lo appoint S BC8nd 8$ CEO. the Trustsas hatj rBgwd to provisKM in th& artsès of asscclal1 dealing with the managwnént of confl•Xs ol IntSt. Th8se ViN to ty• rA1 aThJ strengthenad as noceswy by th8 tru8ts08 in th• agmOnt ol his wWymenL Tvuste•s gerAr811y re¢Jev• remunerati fty hd¢jIr Ilmt olThc• or that rrAe. Fdl(Min9 Charfty Commisskjn approval, ts lomor CEO was murThted fry the wn.od to 30 November 223. Follthw'rvJ Ihe transiticn Ffjriod, hi$ $l$s0r was ap1nt0d CEO WTth from 1 Dacembar 2023 Ih• Twstees eC"nUe lo liaise Vlith the Commission with regwds to neusw ¥pYov•L8. The leval ot romun¢rknn 15 govom8d by writtsn 8gr•em8nt. &nco t chadty has a smdl t)ard. M spticific commilt•g •ts to de81 with rThunatlQn or Thls r•pxt hos pryed h•ing takffi •j¥ts9o of tho smdl cunparde8 exemption in ts Comwlo8Act Golng C¢)nc•m The Trnstees have a reasonable expoctslon th81 th• ch•rtty has •*uote resources to eontinue in weraty'or existenc8 Iry the foresooable •. Thus thay to a gth'NJ Conc basis in prgpariw tho annual finandal stst•m•nts. Further detail¥ r•g•rth'ro of lh• gowy basls b• fou)d in 1.2 to th• Ilnandal 8tatsm•nts. Th• Trusloe8' repcrft was approv•d Iyjf th• Bowd d Trusl•M. M A Krlgrrt Trustse Dat•d: l O . 9.1.:..4f
THE CAMELLIA FOUNDATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CAMELLIA FOUNDATION
I report to the Trustees on my examination of the financial statements of The Camellia Foundation (the charity) for the year ended 30 June 2024 which are set out on pages 6 to 19.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
S Jennings FCA Azets Audit Services
Globe House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN United Kingdom
Dated: 10 February 2025
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THE CAMELLIA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted Restricted funds funds 2024 2024 £ £ Income from: Donations and legacies 3 776,000 100,000 Investments 4 1,387 - Total income 777,387 100,000 Expenditure on: Charitable activities 5 794,361 20,000 Net movement in funds (16,974) 80,000 Fund balances at 1 July 2023 78,481 - Fund balances at 30 June 2024 61,507 80,000 |
Total Unrestricted funds 2024 2023 £ £ 876,000 726,000 1,387 483 877,387 726,483 814,361 843,025 63,026 (116,542) 78,481 195,023 141,507 78,481 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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THE CAMELLIA FOUNDATION
BALANCE SHEET
AS AT 30 JUNE 2024
| 2024 Notes £ Fixed assets Tangible assets 11 Current assets Debtors 12 2,414 Cash at bank and in hand 239,853 242,267 Creditors: amounts falling due within one year 13 (103,375) Net current assets Net assets Creditors: amounts falling due after more than one year 14 Net assets Income funds Restricted funds 16 Unrestricted funds |
£ 2,615 138,892 141,507 - 141,507 80,000 61,507 141,507 |
2023 £ 6,813 117,678 124,491 (41,058) |
£ 5,048 83,433 88,481 (10,000) 78,481 - 78,481 78,481 |
|---|---|---|---|
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THE CAMELLIA FOUNDATION BALANCE SHEET (CONTINUED) AS AT30 JUNE 2024 2024 2023 Tr ¢>Jmpany is erthed to the 8Xption Imm th• wtht ctir)t in secbon 477 of the COMpara$ACt 2CQ8, for th8 year ende4J 30 JLmg 2024. wilh rn$poct lo aCcnting rw)rd$ and thg k¥gpar81px offfinal statemts. The membof5 have not rtyured to obtsin aLKIt of ils Jtat•mwrts lor the yaar in qwstK>n In accordanc¢ ith 8•ction 478. Thwe finand•l 8tata))ents have b8•n in aetttdwK• tlth provisJns appkcatlo to c(xrwni•¥ S.¢t to th& small compgrmes r)fi. The flngnctsl $t•t•monts vmre apwov•J ty IhB Tnlo•s on . l•:0 l. & M A Knlgm TnMt•• S C Tumer Comwny R•gl•tr*tlon No. 07839372
THE CAMELLIA FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024
| Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 21 Investing activities Purchase of tangible fixed assets Interest received Net cash generated from/(used in) investing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2024 £ - 1,387 |
£ 120,788 1,387 - 122,175 117,678 239,853 |
2023 £ (919) 483 |
£ (88,943) (436) - (89,379) 207,057 117,678 |
|---|---|---|---|---|
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1 Accounting policies
Charity information
The Camellia Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is The Scalpel, 18th Floor, 52 Lime Street, London, EC3M 7AF, United Kingdom.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial 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 concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
1 Accounting policies
(Continued)
1.5 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings:
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Expenditure on charitable activities
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Other expenditure
In the Trustees' opinion all expenditure for the year was incurred on charitable activities.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grant expenditure is recognised when awarded to the recipient. The expense is included on an accruals basis in the year in which a legal or constructive obligation to pay the grant arises.
Support costs are an integral part of the charity's expenditure on charitable activities and include essential office costs, governance costs and administrative costs. These are incurred directly in support of the expenditure on the objects of the charity.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. All assets with a cost equal to, or over £500 are capitalised.
Depreciation is recognised annually so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office Equipment 15% on cost Computer Equipment 33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The charity operates a defined pension contribution plan for the benefit of one of its employees. Contributions are expensed as they become payable.
1.12 Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.
2 Critical accounting estimates and judgements
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
No judgements or key assumptions were made in the preparation of the accounts.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
3 Donations and legacies
| Unrestricted | Restricted | **Total ** | Unrestricted | |
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Donations and gifts | 776,000 | 100,000 | 876,000 | 726,000 |
4 Investments
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Interest receivable | 1,387 | 483 |
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
5 Charitable activities
| Staff costs Direct costs 2024 2024 £ £ Staff costs (note 8) 251,053 - Depreciation - - Staff insurance - BIK 8,622 - Bank charges - 681 Travel, subsistence and meeting costs - 3,674 Sundry expenses - 13 Subscriptions - - Printing, postage and stationary - - Telephone - - Insurance - charity - - Independent examination fees - - Legal and professional fees - - Removal and storage costs - - 259,675 4,368 Grant funding of activities (see note 6) - 524,458 259,675 528,826 Analysis by fund Unrestricted funds 259,675 508,826 Restricted funds - 20,000 259,675 528,826 |
Support costs 2024 £ - 2,433 - - - - 694 176 3,704 1,102 6,810 4,530 6,411 25,860 - 25,860 25,860 - 25,860 |
Total 2024 Staff costs Direct costs 2023 2023 £ £ £ 251,053 267,750 - 2,433 - - 8,622 10,161 - 681 - 554 3,674 - 2,143 13 - 35 694 - - 176 - - 3,704 - - 1,102 - - 6,810 - - 4,530 - - 6,411 - - 289,903 277,911 2,732 524,458 - 540,798 814,361 277,911 543,530 794,361 277,911 543,530 20,000 - - 814,361 277,911 543,530 |
Support costs 2023 £ - 2,382 - - - - 3,139 9 2,978 1,313 5,808 - 5,955 21,584 - 21,584 21,584 - 21,584 |
Total 2023 £ 267,750 2,382 10,161 554 2,143 35 3,139 9 2,978 1,313 5,808 - 5,955 |
|---|---|---|---|---|
| 302,227 540,798 |
||||
| 843,025 | ||||
| 843,025 - |
||||
| 843,025 |
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 Charitable activities
(Continued)
Governance costs
Included in Direct costs are costs relating to Trustees' meetings amounting to £831 (2023: £890). Included in Support costs are the costs relating to the Independent Examination amounting to £6,810 (2023: £5,808).
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6 Grants payable
| **Direct costs ** | Direct costs | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Grants to institutions (37 grants): | ||
| Abu Subhan Welfare Trust | 165,361 | 203,105 |
| Amos Trust | 10,000 | 10,000 |
| Foundation for Developing Compassion and Wisdom | 20,000 | 18,000 |
| Prospect Burma | 25,000 | 25,000 |
| Bala Children's Centre | 12,500 | 12,500 |
| The Orient Foundation | 16,000 | - |
| The IMPACT Foundation | 30,000 | 35,000 |
| The Jamyang Centre | 10,000 | 10,000 |
| Fondation Le Copain | 20,000 | - |
| Frontline Partnership | 10,000 | - |
| The Centre for Theology and Community | 12,500 | 12,500 |
| The Association for the Advancement of ENT Surgery and Head and Neck | ||
| Research | 45,000 | - |
| The Good Heart (Frome Kindness Festival) | 10,000 | - |
| Other | 138,097 | 209,693 |
| 524,458 | 535,798 | |
| Grants to individuals | - | 5,000 |
| 524,458 | 540,798 |
Included in other grants are five institutional grants totalling £68,536. The Charity has withheld the disclosure on the basis that disclosure would provide grounds for serious prejudice. All grants were made in furtherance of the Charity's objects.
Commitments
During the year a total of £524,458 (2023: £535,798) grants were approved by the Board and £466,458 (2023: £515,798) was paid to the beneficiaries. At 30 June 2024 there were unpaid commitments of £78,000 (2023: £20,000). These are included in grants payable (notes 13 & 14).
7
| Net movement in funds | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Net movement in funds is stated after charging/(crediting) | ||
| Depreciation of owned tangible fixed assets | 2,433 | 2,382 |
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
8 Trustees
Other than that disclosed in note 9, none of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
During the year to 30 June 2024 one Trustee who served were reimbursed travel expenses and subscriptions totalling £3,213 (2023: £5,640). These expenses were incurred in direct furtherance of the Charity’s objectives.
9 Employees
The average monthly number of employees during the year was:
| Total Employment costs Wages and salaries Social security costs Other pension costs Benefit in kind |
2024 Number 2 2024 £ 205,540 22,596 22,917 8,622 259,675 |
2023 Number 2 |
|---|---|---|
| 2023 £ 216,184 25,446 26,120 10,161 |
||
| 277,911 |
S Buckland (CEO) is the key management employee of the charity. He is in charge of directing and controlling, running and operating the charity on a day to day basis. This is in accordance with the charity's governing document.
The number of employees whose annual remuneration was £60,000 or more were:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| £70,001 - £80,000 | 1 | - |
| £130,001 - £140,000 | 1 | - |
| £170,001 - £180,000 | - | 1 |
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
| 11 Tangible fixed assets Office Equipment Computers £ £ Cost At 1 July 2023 14,177 919 At 30 June 2024 14,177 919 Depreciation and impairment At 1 July 2023 9,793 255 Depreciation charged in the year 2,127 306 At 30 June 2024 11,920 561 Carrying amount At 30 June 2024 2,257 358 At 30 June 2023 4,384 664 |
Total £ 15,096 |
|---|---|
| 15,096 | |
| 10,048 2,433 |
|
| 12,481 | |
| 2,615 | |
| 5,048 |
| The tangible fixed assets are all held and used in the direct furtherance on the Charity's objectives. 12 Debtors 2024 Amounts falling due within one year: £ Other debtors 1,174 Prepayments and accrued income 1,240 2,414 13 Creditors: amounts falling due within one year 2024 £ Other taxation and social security 8,752 Grants payable 78,000 Other creditors 10,413 Accruals and deferred income 6,210 103,375 14 Creditors: amounts falling due after more than one year 2024 £ Grants payable - |
2023 £ 2,975 3,838 |
|---|---|
| 6,813 | |
| 2023 £ 11,322 10,000 14,228 5,508 |
|
| 41,058 | |
| 2023 £ 10,000 |
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
15 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £22,917 (2023 - £26,120).
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 July 2023 | resources | expended | 30 June 2024 | |
| £ | £ | £ | £ | |
| Fondation Le Copain | - | 20,000 | (20,000) | - |
| Religious Institutions at Badamtam Tea Garden | - | 80,000 | - | 80,000 |
| - | 100,000 | (20,000) | 80,000 |
During the year, two restricted funds were created:
-
£20,000 was received for the doner specified purpose of granting this amount to Fondation Le Copain, a Swiss charity that trains assistance dogs for people with disabilities
-
£80,000 was received for the doner specified purpose of granting this amount to various religious institutions at Badamtam Tea Garden in India
17 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2024 2024 £ £ Fund balances at 30 June 2024 are represented by: Tangible assets 2,615 - Current assets/(liabilities) 58,892 80,000 Long term liabilities - - 61,507 80,000 |
Total Unrestricted funds 2024 2023 £ £ 2,615 5,048 138,892 83,433 - (10,000) 141,507 78,481 |
Total Unrestricted funds 2024 2023 £ £ 2,615 5,048 138,892 83,433 - (10,000) 141,507 78,481 |
|---|---|---|
| 78,481 |
18 Contingent asset
During the year ended 30 June 2023 the Board was notified by an individual that they intend to transfer as yet unspecified assets into the ownership of the Charity at a future date. Given the uncertain nature of this transfer this is being treated as a contingent asset by the Charity.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024
19 Events after the reporting date
As noted in the Trustees' report, the CEO was appointed from 1 December 2023, which appointment was preceded by a fifteen-month handover period with the previous CEO. The Trustees requested Charity Commission approval for the employment of the CEO. The Commission is in regulatory engagement with the Trustees in this regard, both during the reporting period and after the financial year end, and the Trustees continue to proactively liaise with the Commission on this aspect.
20 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
- £776,000 (2023: £726,000) of donations were received from The Camellia Foundation (Bermuda) - £80,000 (2023: £Nil) of grants to Religious Institutions at Badamtam Tea Garden were approved in principal but remain in a restricted fund at 31 March 2024. This institution is owned by Goodricke Group Limited, a company which S Buckland (CEO) is chairman.
The £80,000 grant is outstanding at the year end.
The Camellia Foundation (Bermuda) is a trust established in Bermuda. It has one trustee (the Camellia Private Trust Company Limited - a private trust company incorporated in Bermuda). The Camellia Foundation (Bermuda) is the indirect majority shareholder of Camellia Plc.
S Turner (trustee) was a director of the Camellia Private Trust Company Limited until 30 November 2023. He is also a director (and Chairman) of Camellia Plc. Included in other debtors is £1,174 due from S Turner in respect of overpaid salary. This occurred due to an administrative oversight, and has since been repaid in full.
S Buckland (CEO) is a director of Camellia Private Trust Company Limited and Camellia Plc.
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THE CAMELLIA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
| 21 Cash generated from operations Surplus/(deficit) for the year Adjustments for: Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease in debtors Increase in creditors Cash generated from/(absorbed by) operations |
2024 2023 £ £ 63,026 (116,542) (1,387) (483) 2,433 2,382 4,399 1,007 52,317 24,693 120,788 (88,943) |
|---|---|
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