REGISTERED CHARITY NUMBER: 1148785
Trustees' Report and
Unaudited Financial Statements for the Year Ended 30 September 2022
for
The Bryan and June Amos Foundation
Nichols & Co ( Accountancy ) Limited Chartered Accountants Unit 7 Mulberry Place Pinnell Road Eltham London SE9 6AR
The Bryan and June Amos Foundation
Contents of the Financial Statements for the Year Ended 30 September 2022
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Trustees' Report | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
The Bryan and June Amos Foundation
Reference and Administrative Details for the Year Ended 30 September 2022
TRUSTEES
D A Fraser D Morley M Seymour J R L Stacey
PRINCIPAL ADDRESS
TWM Solicitors LLP 40 West Street Reigate Surrey RH2 9BT
REGISTERED CHARITY 1148785 NUMBER
INDEPENDENT EXAMINER
Nichols & Co ( Accountancy ) Limited Chartered Accountants Unit 7 Mulberry Place Pinnell Road Eltham London SE9 6AR
Page 1
The Bryan and June Amos Foundation
Trustees' Report for the Year Ended 30 September 2022
The trustees present their report and the financial statements of the Charity for the year ended 30 September 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities (FRS 102) in preparing the annual report and financial statements of the Charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity’s governing document, 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 published in October 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
During the year the trustees have consulted with the Charity Commission to extend the objects of the Charity whilst still staying true to the original intensions of Mrs Amos.
The objects of the Charity are to promote the relief of individuals, primarily but not exclusively elderly people, in any manner which is now or hereafter may be deemed by Law to be charitable and particularly but not exclusively, those residing in and around Reigate and Banstead, Surrey.
The Charity’s main financial objective is to maintain a balance between expenditure and income whilst giving due diligence to funding projects and maintaining financial prudence.
Public benefit
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the trust's aims and objectives, in planning future activities, and setting the grant making policy for the year. The general scope of the Charity’s objectives ensures that a diverse range of deserving applicants will benefit from the Charity’s funds. The trustees will attempt to reflect their understanding of the charitable aims of the late Mrs Amos in their choice of grant recipients, but in principle all registered charities, that come within the objects of the Charity, are potentially eligible to receive support from the Charity.
ACHIEVEMENT AND PERFORMANCE
During the year, the trustees approved a donation of £505,000 to St Catherine's Hospice and £30,000 to Age Concern plus several smaller donations which are all detailed in the notes to the accounts.
FINANCIAL REVIEW
The Charity was formed by a trust deed dated 23 August 2012 but did not commence its activities until it received funds from the Estate of the late Mrs June Amos. The Charity was the residuary beneficiary of the Estate. During the period ended 30 September 2013 the administration of the Estate ended and the residuary estate amounting to £1,805,531 was transferred to the Charity in the form of cash, property and listed fixed asset investments.
Following the transfer of funds from the Estate of Mrs Amos, the Charity’s principal sources of funding were freehold commercial and residential investment properties, quoted stock exchange investments, and cash and short-term bank deposits. The Charity does not engage in fund-raising.
The investment portfolio is managed under general discretionary investment powers by Artorius Wealth Limited, in accordance with the agreement of the trustees. The objective of the portfolio is to provide a balance between income and capital growth from a portfolio consisting principally of UK equities and fixed interest securities.
The investment properties were sold in previous years and the proceeds reinvested in the listed investment portfolio.
FUTURE PLANS
The trustees intend to fully distribute the Charity's funds over the next few years in accordance with the wishes of Mrs Amos.
Page 2
The Bryan and June Amos Foundation
Trustees' Report for the Year Ended 30 September 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Mrs June Amos, who died in 2011, wished to establish a charity to assist the elderly. The Bryan and June Amos Foundation was formed as a charitable trust under a Trust Deed dated 23 August 2012.
The trust deed specifies that there shall be at least three trustees but no maximum number of trustees has been imposed on the Charity. Future trustees must be appointed by a resolution of the trustees passed at a special meeting. All new trustees will receive a copy of the trust deed and the latest accounts.
The trustees also seek independent advice as to the policies relating to the investment of the Charity’s funds and seek other professional advice from solicitors, accountants and other professionals when required. If the trustees are in doubt on any complex matter, this can be referred to the Charity Commissioners for a decision and advice before any action is implemented.
The trustees have examined the major risks which the Charity faces. They have identified that these risks are limited in number and, as such, have documented and reported these risks at a trustees’ meeting and have taken action to minimise the Charity’s exposure to these risks. The trustees will continue to report on and review these risks at future trustees’ meetings.
Any transaction between the Charity and related parties are disclosed in note 12 to the accounts.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 28 July 2023 and signed on its behalf by
D Morley Trustee
Page 3
Independent Examiner's Report to the Trustees of The Bryan and June Amos Foundation
Independent examiner's report to the trustees of The Bryan and June Amos Foundation
I report to the Charity trustees on my examination of the accounts of The Bryan and June Amos Foundation (the Trust) for the year ended 30 September 2022.
Responsibilities and basis of report
As the Charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Signed S Nichols FCA CTA
Nichols & Co ( Accountancy ) Limited Chartered Accountants Unit 7 Mulberry Place Pinnell Road Eltham London SE9 6AR
28 July 2023
Page 4
The Bryan and June Amos Foundation
Statement of Financial Activities for the Year Ended 30 September 2022
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities Donations to charities Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
30.9.22 £ 56,774 25,752 568,430 26,772 620,954 (82,656) (646,836) 2,101,096 1,454,260 |
30.9.21 £ 76,178 32,531 374,225 15,735 422,491 118,737 (227,576) 2,328,672 2,101,096 |
|---|---|---|
The notes form part of these financial statements
Page 5
The Bryan and June Amos Foundation
Balance Sheet
30 September 2022
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors: amounts falling due within one year 8 Cash held by investment manager 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
30.9.22 £ 1,208,972 1,291 57,491 197,127 255,909 (10,621) 245,288 1,454,260 1,454,260 1,454,260 1,454,260 |
30.9.21 £ 1,987,095 - 88,168 408,466 496,634 (382,633) 114,001 2,101,096 2,101,096 2,101,096 2,101,096 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 July 2023 and were signed on its behalf by
D Morley Trustee
The notes form part of these financial statements
Page 6
The Bryan and June Amos Foundation
Notes to the Financial Statements for the Year Ended 30 September 2022
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
INCOME
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to 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 to 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 date are noted as a commitment but not accrued as expenditure.
TAXATION
As a registered charity, the Foundation is exempt from income and capital gains tax to the extent that its income and gains are applicable for charitable purposes only.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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The Bryan and June Amos Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
2. INVESTMENT INCOME
| Dividends -equities Interest -fixed int.securities 3. RAISING FUNDS INVESTMENT MANAGEMENT COSTS Investment manager fees 4. GRANTS PAYABLE Donations to charities The total grants paid to institutions during the year was as follows: Abbeyfield Reigate Royal British Legion Age Concern Merstham/Redhill MHA Communities East Surrey Dementia First St Catherines Hospice Gatton Trust Casualties Union Friends of the Elderly Diamond Centre for Disabled Riders 5. SUPPORT COSTS Other resources expended |
|
|---|---|
continued...
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The Bryan and June Amos Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
GOVERNANCE COSTS
| GOVERNANCE COSTS | ||
|---|---|---|
| 30.9.22 | 30.9.21 | |
| Other | ||
| resources | Total | |
| expended | activities | |
| £ | £ | |
| Trustees' expenses | 557 | 59 |
| Independent Examiners fees | 4,560 | 4,692 |
| Legal fees | 21,457 | 10,810 |
| Bank Charges | 198 | 174 |
| 26,772 | 15,735 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
TRUSTEES' EXPENSES
| 30.9.22 | 30.9.21 | |
|---|---|---|
| £ | £ | |
| Trustees' expenses | 557 | 59 |
| FIXED ASSET INVESTMENTS | ||
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 October 2021 | 1,987,095 | |
| Additions | 301,785 | |
| Disposals | (867,299) | |
| Revaluations | (212,609) | |
| At 30 September 2022 | 1,208,972 | |
| NET BOOK VALUE | ||
| At 30 September 2022 | 1,208,972 | |
| At 30 September 2021 | 1,987,095 | |
| There were no investment assets outside the UK. |
7. FIXED ASSET INVESTMENTS
Cost or valuation at 30 September 2022 is represented by:
| Listed | ||
|---|---|---|
| investments | ||
| £ | ||
| Valuation in | 2022 | 1,208,972 |
continued...
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The Bryan and June Amos Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
7. FIXED ASSET INVESTMENTS - continued
If fixed asset investments had not been revalued they would have been included at the following historical cost:
| 30.9.22 | 30.9.22 | 30.9.21 |
|---|---|---|
| £ | £ | |
| Cost 1,258,987 |
1,824,501 | |
| Fixed asset investments are carried at their market value. Investments in equities and | fixed interest securities | |
| are all traded in quoted public markets, primarily the London Stock Exchange. | Holdings in common | |
| investment funds, unit trusts and open ended investment companies are at the bid price. |
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 9. CURRENT ASSET INVESTMENTS Cash held by investment advisor 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income Accrual for grants payable 11. MOVEMENT IN FUNDS |
30.9.22 £ 1,291 30.9.22 £ 57,491 30.9.22 £ 10,621 - 10,621 |
30.9.21 £ - 30.9.21 £ 88,168 |
||
|---|---|---|---|---|
| 30.9.21 £ 18,408 364,225 |
||||
| 382,633 | ||||
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 56,774 TOTAL FUNDS 56,774 |
At 1/10/21 £ 2,101,096 2,101,096 Resources expended £ (620,954) (620,954) |
Net movement in funds £ (646,836) (646,836) Gains and losses £ (82,656) (82,656) |
At 30/9/22 £ 1,454,260 |
At 30/9/22 £ 1,454,260 |
|---|---|---|---|---|
| 1,454,260 | ||||
| Movement in funds £ (646,836) (646,836) |
||||
| (646,836) |
continued...
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The Bryan and June Amos Foundation
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1/10/20 £ 2,328,672 2,328,672 |
Net movement in funds £ (227,576) (227,576) |
At 30/9/21 £ 2,101,096 |
|---|---|---|---|
| 2,101,096 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 76,178 | (422,491) | 118,737 | (227,576) |
| TOTAL FUNDS | 76,178 | (422,491) | 118,737 | (227,576) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2022.
Page 11