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2021-03-31-accounts

Charity Registration No. 1151516

Beefy's Charity Foundation Annual Report And Unaudited Financial Statements

For The Year Ended 31 March 2021

BEEFY’S CHARITY FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr D L Osborne Mr N G Desai Mrs D McGiveron

Charity number 1151516 Registered office 36 Upper Brook Street Mayfair London W1K 7QJ

Independent examiner

Laura Masheder FCA DChA Triune Court Monks Cross Drive York YO32 9GZ

BEEFY’S CHARITY FOUNDATION

CONTENTS

Page
Trustees’ report 1-2
Statement ofTrustees’ responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notestothefinancialstatements 7-12

BEEFY’S CHARITY FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and financial statements for the year ended 31 March 2021.

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 Constitution, 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 (FRS 102)” (effective 1 January 2019).

Objectives and activities

The charity's object is to promote any charitable purpose for the public benefit as is exclusively charitable according to the laws of England and Wales as the Trustees may from time to time determine. The policies adopted in furtherance of these objects have not changed during the year.

The Trustees consider that they can best pursue the foregoing as a grant making charity that focuses on the specific selected causes. The focus is currently upon: blood cancer research, brain tumour research and support, Batten disease research, juvenile diabetes research, offender rehabilitation, YUVA - transforming sanitation and educational facilities in municipal schools in India and cardiac risk in the young.

In carrying out its activities the Trustees of the Foundation have had due regard to guidance on public benefit published by the Charity Commission.

Financial review, achievements and performance

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements.

The Foundation’s principal source of income is derived from the persona and fundraising activity of Sir lan Botham.

At £8,474 (2020 - £83,555), income is down for the year, due to Covid-19 restrictions delaying fundraising events.

During the year two grants of £500 were made to Yorkshire's Brain Tumour Charity and Batten Disease Family Association.

Structure, governance and management

The Foundation is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission in England and Wales 1151516 and established by a Constitution dated 4 April 2013 which is based on the Charity Commission’s model constitution for a foundation ClO.

The Trustees who served during the year and up to the date of signature of the financial statements were:

Mr D L Osborne

Mr N G Desai

Mrs D McGiveron

New Trustees are appointed by the Trustees having regard to their skills, knowledge, experience and potential to advance the Foundation’s work. No Trustee received remuneration or was reimbursed expenses during the current or previous year.

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BEEFY’S CHARITY FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Other individuals involved in the operation of the charity are:

Lady Botham - President

Mrs S L Shield - Chief Operating Officer

The President, an entirely honorary role, is appointed by the Trustees. She attends and may speak at meetings of the Trustees and in doing so makes a valuable contribution to our discussions but she does not carry a vote. The Foundation does not employ staff. The Chief Operating Officer is engaged on a contract of service to devise/plan/manage events, encourage/develop supporters and generally manage the on-going daily business of the charity. The Trustees review and approve her remuneration as considered appropriate from time to time.

Reference and administrative details

The Legal and Administrative Information forms part of this annual report.

Reserves policy

It is the policy of the Foundation not to make grants in excess of funds currently in hand and to hold funds in reserve to the value of at least six months of other operational expenditure. At 31 March 2021 the reserves were £10,751 (2020 - £23,774), all of which were free reserves.

Future plans

We have continued to plan for 2021/22, the 40th Anniversary of the 1981 Ashes Series, these include:

Due to Covid-19 the La Cala Masters event, Hackney Half Marathon, ASICS London 10km and Le National Ryder Cup golfing event have all been postponed.

The Trustees' report was approved by the Board of Trustees.

Haygnestt AbSal

Mr N G Desai Trustee Dated: .27/08/2021

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BEEFY’S CHARITY FOUNDATION

STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021

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 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 of the charity for that year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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 Constitution. 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.

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BEEFY’S CHARITY FOUNDATION

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEEFY’S CHARITY FOUNDATION

| report to the Trustees on my examination of the financial statements of Beefy’s Charity Foundation (the charity) for the year ended 31 March 2021.

This report is made solely to the Charity's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that | might state to the Charity's Trustees those matters | am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions | have formed.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

| report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

| 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.

Laura Masheder

Laura Masheder FCA DChA

Triune Court

Monks Cross Drive York YO32 9GZ

01/11/2021

Dated: ........::ccceeeseeees

«A =

BEEFY’S CHARITY FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Notes £ £
Income from:
Donations 3 7,018 83,440
Fundraising events 4 1,224 -
Investment income 5 232 115
Total income 8,474 83,555
Expenditure on:
Raising funds 6 12,372 45,890
Charitable activities 7 9,125 64,500
Total expenditure 21,497 110,390
Net expenditure for the year/
Net movement in funds (13,023) (26,835)
Fund balances at 1 April 2020 23,774 50,609
Fundbalancesat31March2021 10,751 23,774

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

All income and expenditure in both the current and prior year was unrestricted.

The notes on pages 7 - 12 comprise part of these financial statements.

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BEEFY’S CHARITY FOUNDATION

BALANCE SHEET AS AT 31 MARCH 2021

2021 2020
Notes £ £ £ £
Current assets
Debtors 13 3,098 15,731
Cash at bank and in hand 9,333 9,643
12,431 25,374
Creditors: amounts falling due within
one year 14 (1,680) (1,600)
Net current assets 10,751 23,774
Income funds
Unrestricted funds 10,751 23,774
10,751 23,774

The financial statements were approved by the Trustees on BTyO8/2027.

and signed on it's behalf by:

Haynes NeSar

Mr N G Desai

Trustee

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BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

Beefy’s Charity Foundation is a Charitable Incorporated Organisation registered with the Charity Commission in England and Wales with the Registration Number 1151516.

The financial statements have been prepared in accordance with the charity's Constitution, 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 (FRS 102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees have considered all factors, including in the wider economy including Covid-19, as part of their assessment of going concern. Although the current economic climate creates both cashflow and profitability risks for the company, the Trustees believe on balance that they have sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements, on the basis of information currently available to them as at the point of approving these. Accordingly, these financial statements have been prepared on the going concern basis.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

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.

1.5 Expenditure

Costs of generating funds recognises the amounts paid throughout the year to raise the profile of the charity and the activities which are undertaken.

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BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

(Continued)

1.6 Cash and cash equivalents

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.

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.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Taxation

Beefys Charity Foundation is a registered charity and as such is a charity within the meaning of schedule 6 of the Finance Act 2010. Accordingly, the charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. Given this, no tax charge arises on the charity.

1.9 Grants payable

Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Trustees do not consider that there are any critical accounting estimates and judgments within these financial statements.

3 Donations

2021 2020
£ £
Donations 7,018 83,440

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BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Other trading activities

2021 2020
£ £
Fundraising events 1,224 -
5 Investment income
2021 2020
£ £
Interest receivable 232 115
6 Raising funds
2021 2020
£ £
Staging fundraising events - 24,222
Consultancy 8,125 19,500
Support and governance costs 4,247 2,168
12,372 45,890
7 Charitable activities
2021 2020
£ £
Grant funding (see note 8) 1,000 45,000
Share of support costs (see note 9) 8,125 19,500
9,125 64,500
8 Grants payable
2021 2020
£ £
Grants to institutions:
Batten Disease FamilyAssociation 500 -
Yorkshire's Brain Tumour Charity 500 -
YUVA Unstoppable - 45,000
1,000 45,000

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BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8 Grants payable

(Continued)

All grants committed were paid at 31 March 2021.

All grants paid in the year were made to other charitable organisations and there were no performance conditions attached to the grants paid.

9 Support costs

Support costs
Support Governance 2021 2020
costs costs
£ £ £ £
Sundry costs 1,883 - 1,883 180
Insurance 526 - 526 490
Accountancy fees 1,208 - 1,208 898
Consultancy fees 8,125 - 8,125 19,500
Independent examination - 630 630 600
11,742 630 12,372 21,668

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration, expenses or benefits from the charity during the current or previous year.

11 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -

The Trustees are considered to be the key management personnel of the charity.

12 Investments

The CIO is the sole member of Beefy's Enterprises Limited, a company Limited by Guarantee which operates the fundraising events for the charity.

13 Debtors

Debtors
2021 2020
Amounts falling due within one year: £ £
Otherdebtors 3,098 15,731

=~ 1 =

BEEFY’S CHARITY FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14 Creditors: amounts falling due within one year

2021 2020
£ £
Accruals and deferred income 1,680 1,600

15 Related party transactions

Transactions with related parties

During the year the charity received donations from Beefy's Enterprises Limited, a subsidiary company, of Enil (2020 - Enil), with £nil (2020 - £68) being received in the year in relation to a prior year surplus.

At the year end a balance of £3,098 (2020 - £15,731) was due from Beefy Enterprises Limited to the charity, which relates to recharged expenses, and is included within other debtors.

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