Charity Registration No. 1151516 Beefy's Charity Foundation Annual Report And Unaudited Financial Statements For The Year Ended 31 March 2022
BEEFY'S CHARITY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D L Osbome Mr N G Desai Mrs D McGiveron Charity nurnber 1151516 Registered office 36 Upper Brook Street Mayfair London W1K7QJ Independent examiner Laura Masheder FCA DChA Triune Court Monks Cross Drive Yorf( Y032 9GZ
BEEFY'S CHARITY FOUNDATION CONTENTS Page Trustees, report Slalement of Trustees, responsibilities Independent examiner's report Slalemenl of financial activities Balance sheet Notes to the financial slalemenls 7-12
BEEFY'S CHARITY FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Trustees present their annual report and financial slalemenls for the year ended 31 March 2022. The financial slalemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constilulion, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Ststement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leffective 1 January 20191. Objectives and activities The charity's object is lo promote any charitable purpose for the public benefit as is exclusively charitable according lo the laws of England and Wales as the Trustees may from time lo time determine. The policies adopted in furtheran 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 rehabililalion, YUVA - transforming sanitation and educational facilities in municipal schools in India and cardiac risk in the young. In carrying out ils activities the Trustees of the Foundation have had due regard to guidance on public benefit published by the Charity Commission. Financial review, achievements and performancg 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 Lord Botham. AI £147,384 12021 £8,474), income is back up for the year. This is due to Covid-19 restrictions delaying fundraising events in the prior year. During the year grants totslling £60,000 were made to Yorkshire's Brain Tumour Charity, Batten Disease Family Association, JDRF and Proslale Canr UK. Structure. govemance and management The Foundation is a Charitable Incorporated Organisation ICIOI 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 wnstitution for a foundation CIO. The Trustees who served during the year and up lo the date of signature of the financial slalemenls were.. Mr D L Osborne Mr N G Desai Mrs D McGiveron New Trustees are appointed by the Trustees having regard lo their skills, knowledge, experien and potential to advance the Foundation's work. No Trustee received remuneration or was reimbursed expenses during the current or previous year.
BEEFY'S CHARITY FOUNDATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 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 bul she dS not carry 3 vole. The Foundation does not employ stsff. The Chief Operating Officer is engaged on a consultancy basis to deviselplanlmanage events, encourageldevelop supporters and generally manage the on4Joing daily bLJsiness of the charity. The Trustees review and approve her fees as considered appropriate from time to time. Rgfgrencg and administrative dgtsils The Legal and Administrative Information forms part of this annual report. Reserves pollcy It is the policy of the Foundation not to make grants in excess of funds currently in hand and to hold funds in reserve lo the value of at least six months of other operational expenditure. Al 31 March 2022 the reserves were £31,75012021 £10,751), all of which were free reserves. Future plans We have continued to plan for 2022123, with the following events planned.. Machrie Masters- April 2022 - tsken pla The Archerfield Invitstional - October 2022 Also we are planning for the 1 Oth Anniversary of Beefy's Charity Foundation and are to discuss the potential following events.. Easter Egg Hunt- April 2023 River Cruise in Provence in partnership wrfch Uniworld and Tripsmith 1 Oth Anniversary Golf Event Renaissance Ryder Cup- September 2023 The Trustees. report was approved by the Board of Trustees. Mr N G Desai Trustee Dated.. 2210612022
BEEFY'S CHARITY FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees are responsible for preparing the Trustees, Report and the financial ststemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practioel. The law applicable lo charities in England and Wales requires the Trustees to prepare financial slalemenls for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resour$ and application of reSoUrS of the charity for that year. In preparing these financial slalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject lo any material departures disdosed and explained in the financial ststements., and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the financial slalemenls Comply with the Charities Act 2011, the Charity IAccounts 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.
BEEFY'S CHARITY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEEFY'S CHARITY FOUNDATION I report to the Trustees on my examination of the financial statements of Beefy's Charity Foundation (the charity) for the year ended 31 March 2022. 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 I might slate to the Charills Trustees those matters l am required lo state lo them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustèes as a body, for my independent examination work, for this report, or for the opinions I have formed. Responsibilities and basis of report As the Trustees of the charity YOLJ are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 Ilhe 2011 Acll. I 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 I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financial slalemenls do not accord with those records., or the financial slalemenls do not comply with the applicable requirements conceming the fom) and content of accounts sel out in the Charities (Accounts and Reportsl 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 con[5 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 Ljnderstanding of the financial statements to be reached. L¢7ura M¢gsh&d& Laura Masheder FCA DChA Triune Court Monks Cross Drive York Y032 9GZ Dated.. 2210612022
BEEFY'S CHARITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notes Income from: Donations Fundraising events Investment income 147,384 7,018 1,224 232 36 Total income 147,420 8,474 Expenditure on- Raising funds Charitable activities 35,546 90,875 12,372 9,125 Total expenditure 126,421 21,497 Net incomel{expenditurel for the yearl Net movement in funds 20,999 113,0231 Fund balances at 1 April 2021 10,751 23,774 Fund balances at 31 March 2022 31,750 10,751 The slalement 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.
BEEFY'S CHARITY FOUNDATION BALANCE SHEET ASAT31 MARCH 2022 2022 2021 Notes Current assets Debtors Cash at bank and in hand 3,098 9,333 69,067 69,067 12,431 Creditors.. amounts falling dug within one year 14 137,3171 11,680) Net current assets 31,750 10,751 Income funds Unrestricted funds 31,750 10,751 31,750 10,751 2210612022 The financial statements were approved by the Trustees on ......................... and signed on it's behalf by.. Mr N G Desai Trustse
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies Charity information Beefy's Charity FoLJndation is a Charitable Incorporated Organisation registered with the Charity Commission in England and Wales with the Registration Number 1151516. 1.1 Accountlng conventlon The financial slalemenls have been prepared in accordan with the charity's Constilulion, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial slalemenls 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 Slalemenl of Recommended Practice which is referred lo in the Regulations bul which has Sin been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention, modified lo include certain financial instruments al 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 cOnrn. Although the current economic climate creates both cashflow and profitability risks for the company, the Trustees believe on balan 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 ststements, on the basis of infomalion currently available lo 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 al the discretion of the Trustees in furtheran of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled lo it after any Performan conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on reipt. Other donations are recognised once the chartty has been notified of the donation, unless performance conditions reqLJire deferral of the amount. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Charitable activities expenditure (excluding grants) is included in the Statement of Financial Position on an accruals basis. Costs of generating funds reniseS the amounts paid throughout the year to raise the profile of the charity and the activities which are undertaken.
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued} 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnancial instruments The charity has elected lo apply the provisions of Section 11 '8asi¢ Financial Instruments, and Section 12 'Olher 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 nel amounts presented in the financial slalemenls, when there is a legally enforable right to set off the recognised amounts and there is an intention to settle on a nel basis or lo realise the asset and settle the liability simultsneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially meaSUd at transaction price includin9 transaction costs and are subsequently carried al amortised cost using the effe1ve interest method unless the arrangement constilules a fi'nancing Iransa¢lion. where the Iransacts'on is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Impairn7ent of financial assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment al each reporting date. Financial assets are impaired where there is objective eviden 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 al the asset's original effective Interest rate. The Impairment loss is recognised in net incomellexpenditurel for the year. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impaimenl 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 incomellexpenditurel for the year. Derecognition of financial assets Financial assets are derecognised only when the wnlraclual rights lo 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 bLJt control of the asset has transferred lo another party that is able to sell the asset in its entirely lo an unrelated third party.
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued} Basic financial liabiliTties Basic fi'nancial liabilities, including creditors and bank loans are initially recognised al 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 rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al 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-currenl liabilities. Trade creditors are recognised initially at transaction pri and subsequently measured al amortised cost using the effective interest method. Derecognition of fiTnancial 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 lincluding paymenlsl 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 lo the grant is outside the control of the charity. 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 underfying 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 vIsion affects both current and future periods. The Trustees do not consider that there are any critical accounting estimates and judgments within these financial slalemenls. Donations 2022 2021 Donations 147,384 7,018
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Other trading activities 2022 2021 Fundraising events 1,224 Investment income 2022 2021 Interest receivable 36 232 Raising funds 2022 2021 Consultancy Support and governance costs 30,875 4,671 8,125 4,247 35,546 12,372 Charitsble activities 2022 2021 Grant funding (see note 81 Share of support costs Isee note 91 60,000 30,875 1,000 8,125 90,875 9,125 Grants payablg 2022 2021 Grants lo institutions". Batten Disease Family Association Yorkshire's Brain Tumour Charity JDRF Proslate Cancer UK 20,000 15,000 10,000 15,000 500 500 60,000 1,000 10-
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Grants payable (Continued} All grants committed were paid al 31 March 2022. All grants paid in the year were made lo other charitable organisations and there were no performance conditions attached lo the grants paid. Support costs Support Governance costs ¢o$t$ 2022 2021 Sundry costs Insurance AOntanCY fees Consultancy fees Independent examination 665 646 2,200 30,875 665 646 2,200 30,875 800 1,883 526 1,208 8,125 630 800 34,386 800 35,186 12,372 10 Trustees None of the Trustees lor 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.. 2022 Number 2021 Number Total The Trustees a considered to be the key management personnel of the charity. There were no employees whose annual remuneration was more than £60,000. 12 Investmants 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 2022 2021 Amounts falllng due wlthln one year.. Other debtors 3,098
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 14 Creditors: amounts falling due within one year 2022 2021 Notes Deferred income Other creditors Accruals and deferred income 15 1,000 33,857 2,460 1,680 37,317 1,680 15 Deferred Income 2022 2021 Other deferred income 1,000 Deferred income is included in the financial ststements as follows". 2022 2021 Deferred income is included within.. Current liabilities 1,000 Movements in the year.. Deferred income St 1 April 2021 Resources deferred in the year 1,000 Deferred income at 31 March 2022 1,000 16 Related party transactions Transactions with related parties During the year the charity reiVed donations from Beefy's Enterprises Limited, a subsicliary company, of £118.22712021 £nill. At the year end a balan of £33,85712021 1£3,09811 was due to Beefy Enterprises Limited to the charity, which relates lo recharged expenses, and is included within other creditors. 12-