Charity Registration No. 1151516 Beefy's Charity Foundation Annual Report And Unaudited Financial Statements For The Year Ended 31 March 2025
BEEFY'S CHARITY FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D L Osbome Mr N G Desai Mrs D M McGiveron Charity number 1151516 Registered office 36 Upper Brook stet Mayfair London W1K7QJ Independent examiner Jessica Lence FCA CTA 12 King Street Leeds LS12HL
BEEFY'S CHARITY FOUNDATION CONTENTS Page Trustees, report Statement of Trustees, responsibilities Independent examinevs report Statement of financial activities Balance sheet Notes to the financial statements 7-12
BEEFY'S CHARITY FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. 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 aontS in accordance wth the Financial Reporting Standard applicable in the UK and Republi¢ 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 currenUy upon.. blood canr research, brain tumour research and support, Batten disease research, juvenile diabetes research. offender rehabilitation, YUVA- transfomiing sanitation and educational facilities in municipal schools in India and cardiac risk in the young. In carying out its activities the Trustees of the Foundation have had due regard to guidance on wblic benefit published by the Charity Commission. Financial review, achievements and perfomiance 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. Income amounted to £166,336 (2024 - £146,580) for the year. During the year grants totalling £105,183 were made to Battem Disease Family Association, Bloodwise, Yorkshire's Brain Tumour Charity and JDRF UK. 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 CIO. The Trustees who served during the year and up to the date of signature of the financial statements were.. Mr D L Osbome Mr N G Desai Mrs D M 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.
BEEFY'S CHARITY FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other individuals involved in the operation of the charty 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 consultancy basis to devisel planlmanage events, encourageldevelop supporters and generally manage the on-going daily business of the charity. The Trustees review and approve her fees 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 ex$$ of fvnds Currently in hand and to hold funds in reserve to the value of at least six months of other operational expenditure. At 31 March 2025 the reserves were £47,072 (2024- £54,977), all of which were free reserves. Future plans We have continued to plan for 2025126, with the following events planned= Masters Golf in Costa Navarino-April 2025 Golf Day at Foxills Gold Club- September 2025 Cycle Ride with Sir Bradley Wiggins- September 2025 End of Cycle Dinner at Lords- September 2025 The Trustees, report was approved by the Board of Trustees. Nayn&sh Mr N G Desai Trustee 2310912025
BEEFY'S CHARITY FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 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 resour$ of the charity for that year. In preparing these firBncial statements, 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 to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose wtth 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.
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 2025. This report is made solely to the Charity's Trustees. as a body, in accordan with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent Examinevs Report and for no other purpose. To the fullest extent permitted by law. I 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 repoyt, or for the opinions I 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 CharitiesAct 2011 (the 2011 Act). 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 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charty as required by section 130 of the 2011 Act., or the financial statements do not accord with those records- or the financial statements do not comply wth the applicable requirements conceming 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 concems 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. Jessica Lawrence FCA CTA 12 King Street Leeds LS12HL 2310912025
BEEFY'S CHARITY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Income from: Donations Fundraising events Investment income 126,513 39,823 760 69,116 77,464 1,321 Total income 167,096 147,901 Expenditure on: Raising funds Charitable activities 38,457 136,544 21.110 94,553 Total expenditure 175,001 115,663 Net {expenditure)lin¢ome for the yearl Net movement in funds (7,905) 32,238 Fund balances at 1 April 2024 54,977 22,739 Fund balances at 31 March 2025 47,072 54,977 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. All income and expenditure in both the cuent and prior year vrfas unrestricted. The notes on pages 7 - 12 comprise part of these financial statements.
BEEFY'S CHARITY FOUNDATION BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Current assets Debtors Cash at bank and in hand 14 21,596 27,936 21,596 35,721 49,532 57,317 Creditors: amounts falling due within one year 15 (2.460) {2.340) Net current assets 47.072 54.977 Income funds Unrestricted funds 47,072 54,977 47,072 54,977 2310912025 The financial statements were approved by the Trustees on ......................... and signed on it's behalf by.. Nayn6sh Mr N G Desai Trustee
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Constitution, the Charities Act 2011 and 'Accounting and Reporting by Charities. Slatement 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 fijnctional 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 indude certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern During a meeting in August 2025, the trustees decided to wnd down and close the charity in 2026. As such the financial statements have not been prepared on a going conrn basis. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 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 GiftAid or deeds of covenant is recognised at the time of the donation. 1.5 Expenditure Charitable activities expenditure (excluding grants) is induded in the Statement of Financial Position on an accruals basis. Costs of generating funds recognises the amounts paid throughout the year to raise the profile of the charity and the activities which are undertaken. 1.6 Cash and cash equivalents Cash and cash equivalents indude 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.
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinued) 1.7 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 setue 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 dassified as receivable within one year are not amortised. Impairnlent 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 oCcUed after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impaimient loss is the differen between the carying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairmenl loss is recognised in net incomel(expenditure) for the year. If there is a decrease in the impaimient loss arising from an event occurring after the impaim)ent 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 impaimient not previously been recognised. The impairment reversal is recognised in net incomel(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. Basic financial liabilities Basic financial liabilities, induding 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.
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinued) 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 resped of income and gains arising. Given this, no tax charge arises on the charity. 1.9 Grants payable Grants payable are commitments (induding 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 wthout condition, or the recipient has a reasonable expectation that they will re1ve a grant and any condition attaching to the grant is OLrtside the Control of the charity. Critical accounting estimates and judgements In the application of the charity's accounting poliaes. the Trustees are required to make judgements, estimates and assumptions about the carying 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 ests'mate is revised where the revision affects lY that period, or in the period of the revision and future periods where the revision affects both current and fvture periods. The Trustees do not consider that there are any critical accounb'ng estimates and judgments within these financial statements. Donations 2025 2024 Donations 126,513 69,116 Other trading activities 2025 2024 Fundraising events 39,823 77,464 Investment income 2025 2024 Interest receivable 760 1,321
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Raising funds 2025 2024 staging fundraising events Consultancy Support and govemance costs 11,084 26,955 418 20,750 360 38,457 21,110 Charitable activities 2025 2024 Grant funding (see note 8) Share of support costs {see note 9) 105,183 31,361 70,000 24,553 136,544 94,553 Grants payable 2025 2024 Grants to institutions.. Batten Disease Family Association Bloodwise Yorkshire's Brain Tumour Charity JDRF UK 60,183 15,000 20,000 10,000 20,000 15,000 20,000 15,000 105,183 70.000 All grants committed were paid at 31 March 2025. All grants paid in the year were made to other charitable organisations and there were no perfOrmce conditions attached to the grants paid. 10-
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governance costs costs 2025 2024 Sundry costs Insurance Accountancy fees Consultancy fees Independent examination 1,198 748 1,440 26,955 1,198 748 1,440 26,955 1,020 350 723 1,755 20,750 975 1.020 30,341 1.020 31,361 24.553 10 Trustees None of the Trustees (or any persons connected with them) reiVed 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.. 2025 Number 2024 Number Total The Trustees are considered to be the key management personnel of the charity. There were no employees whose annual remuneration VRS more than £60,000. 12 Taxation The charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exient that these are applied to its charitable objects. 13 Investments The CIO is the sole member of Beefy's Enterprises Limited. a company Limited by Guarantee which OpateS the fundraising events for the charity. 14 Debtors 2025 2024 Amounts falling due within one year: Other debtors 21,596 21,596 11
BEEFY'S CHARITY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 2,460 2,340 16 Related party transactions Transactions with related parties During the year the charity received donations from Beefy's Enterprises Limited. a subsidiary company, of £Nil (2024 - £Nil). At the year end a balance of £21.596 (2024 - £21,596) was due from Beefy's Enterprises Limited to the charity, which relates to trading balances, and is included within other debtors. 12-