OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Company registration number: 08463157 Charity registration number: 1151843

The Nigel Gee Foundation

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

RFM Associates 10 Carew Way Watford Hertfordshire WD19 5BG

The Nigel Gee Foundation

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 15

The Nigel Gee Foundation

Reference and Administrative Details

Trustees N D Gee
R H Esdaile
Z E Esdaile
Charity Registration Number 1151843
Company Registration Number 08463157
Registered Office 71-75 Shelton Street
London
WC2H 9JQ
Principal Office Bowers Solicitors
Unit 2 Technology Park
Colindeep Lane
London
NW9 6BX
Independent Examiner Stephen Braham FCA
RFM Associates
Independent examiner
10 Carew Way
Watford
Hertfordshire
WD19 5BG
Solicitors: Bryan Cave Leighton Paisner LLP
Governor's House
5 Laurence Pountney Hill
London
EC4R 0BR
Bankers C. Hoare & Co
37 Fleet Street
London
EC4P 4DQ

Page 1

The Nigel Gee Foundation

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.

Objectives and activities

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: N D Gee R H Esdaile Z E Esdaile

Structure, governance and management

Recruitment and appointment of trustees

Trustees shall in future be appointed by the Board for a period of three years and shall be eligible for re-appointment for further successive three year periods.

None of the trustees has any beneficial interest in the Company. All of the trustees are members of the Company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The day to day administration of the Company is the responsibility of the trustees, who are required to hold meetings each year to ensure proper management of the Company.

Trustees are expected to identify their training needs and to take measures to ensure that these needs are met.

Page 2

The Nigel Gee Foundation

Trustees' Report

Objectives and activities

The Company's objectives are:

(a)the advancement of education, in particular (but not limited to) technical and vocational training for young people and retraining for adults;

(b)the advancement of health;

(c)the advancement of the arts, culture, heritage or science, in particular the promotion of choral music in the United Kingdom;

(d)the relief of those in need because of age or ill-health; and

(e)such other charitable purposes which are beneficial to the public and which are consistent with the objects stated above as the trustees shall in their absolute discretion determine.

The policies adopted in furtherance of these objects are to provide grants and donations to those charities furthering the Company's aims.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Company's aims and objectives and in planning future activities and setting the grant making policy for the year. The Company carries out these objectives by making grant funding to institutions operating in the above areas.

Achievments and performance

The Company makes charitable contributions for wide charitable purposes at the discretion of the trustees to benefit health, education, arts and culture and general charitable purposes.The current year's incoming resources have been distributed and committed to charitable beneficiaries.The Company's financial position at the end of the year was entirely satisfactory.

Financial review

During the year the Company donated and committed to donate amounts totaling £67,730 (2023: £63,920) to charities furthering the objects of the Company. Details of these donations can be found in the notes to the accounts. The Company received investment income, net of costs, of £72,298 (2023: £56,236).The current period deficit resulted in an overall balance on the income funds of £2,068,792 (2023:£2,069,204).

Investment policy and performance

It is the policy of the Company to distribute up to 100% of net income, or more, provided this does not conflict with the Company's policy to maintain net current assets at a level which is considered adequate to cover short term requirements and to retain adequate liquid resources to meet current projected payments or to respond to an emergency.

Risk management

The trustees have assessed the major risks to which the Company is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

tThe Company's future plan is to work in the most efficient and effective way towards achieving its objectives.

Page 3

The Nigel Gee Foundation

Trustees' Report

Statement of Trustees' Responsibilities

The trustees (who are also the directors of The Nigel Gee Foundation for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 19 August 2024 and signed on its behalf by:

......................................... N D Gee Trustee

Page 4

The Nigel Gee Foundation

Independent Examiner's Report to the trustees of The Nigel Gee Foundation ("the Company")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of The Nigel Gee Foundation 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’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 to believe:

  1. accounting records were not kept in respect of The Nigel Gee Foundation as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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

  4. the accounts 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 accounts to be reached.

...................................... Stephen Braham FCA Independent examiner The Institute of Chartered Accountants in England and Wales

10 Carew Way Watford Hertfordshire WD19 5BG

19 August 2024

Page 5

The Nigel Gee Foundation

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Total Total
2024 2023
Note £ £
Income and Endowments from:
Donations and legacies 3 - 92,140
Investment income 4 82,693 69,430
Total income 82,693 161,570
Expenditure on:
Raising funds 5 (10,395) (13,104)
Charitable activities 8 (72,710) (70,121)
Total expenditure (83,105) (83,225)
Net (expenditure)/income (412) 78,345
Net movement in funds (412) 78,345
Reconciliation of funds
Total funds brought forward 2,069,204 1,990,859
Total funds carried forward 13 2,068,792 2,069,204

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 8 to 15 form an integral part of these financial statements. Page 6

The Nigel Gee Foundation

(Registration number: 08463157) Balance Sheet as at 31 March 2024

2024 2023
Note £ £
Fixed assets
Investments 11 1,948,050 1,948,050
Current assets
Cash at bank and in hand 138,574 137,060
Creditors: Amounts falling due within one year 12 (17,832) (15,906)
Net current assets 120,742 121,154
Net assets 2,068,792 2,069,204
Funds of the charity:
Unrestricted income funds
Unrestricted funds 2,068,792 2,069,204
Total funds 13 2,068,792 2,069,204

For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 19 August 2024 and signed on their behalf by:

.........................................

N D Gee Trustee

The notes on pages 8 to 15 form an integral part of these financial statements. Page 7

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital.

The address of its registered office is: 71-75 Shelton Street London WC2H 9JQ

These financial statements were authorised for issue by the trustees on 19 August 2024.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

The Nigel Gee Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 8

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Page 9

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

3 Income from donations and legacies

3 Income from donations and legacies
Total Total
2024 2023
£ £
Donations and legacies;
Legacies - 92,140
- 92,140
4 Investment income
Total Total
2024 2023
£ £
Interest receivable and similar income;
Interest receivable on bank deposits 2,730 -
Income from rents 79,963 69,430
82,693 69,430

Page 10

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

5 Expenditure on raising funds

a) Investment management costs

Total Total
2024 2023
Note £ £
Investment management 10,395 13,104
10,395 13,104

6 Analysis of governance and support costs

Governance costs

Governance costs
Total Total
2024 2023
£ £
Independent examiner's fees
Fees for the year 4,500 5,670
Bank charges 480 531
4,980 6,201

The above governance costs have been analysed as charitable activities.

Page 11

Notes to the Financial Statements for the Year Ended 31 March 2024

The Nigel Gee Foundation

7 Grant-making

Analysis of grants

The support costs associated with grant-making are £Nil (31 March 2023 - £Nil).

Below are details of material grants made to institutions

2024 2023
Name of institution Activity £ £
Lifelites Education - 500
Chai Cancer Care Health - 500
Chelsea Synagogue General and arts and culture 19,000 5,580
Friends of Pilzno Education 12,500 10,000
Jewish Care Health 12,500 12,500
London Jewish Male Choir Education - 2,500
Magen David Adom UK Health 7,500 9,000
Friends of Yad Sarah Health 6,000 5,000
ORT UK Foundation Education - 10,000
Glyndebourne General and arts and culture - 5,000
United Synagogue General and arts and culture 3,730 3,340
CST Community Trust General and arts and culture 5,000 -
Jewish Child Care Education 1,500 -
67,730 63,920

Page 12

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

8 Expenditure on charitable activities

8
Expenditure on charitable activities
Total Total
2024 2023
Note £ £
Grant funding of activities 67,730 63,920
Governance costs 6 4,980 6,201
72,710 70,121
Activity Activity
undertaken support
directly costs 2024
£ £ £
Education 14,000 1,029 15,029
Health 26,000 1,912 27,912
General and arts and culture 27,730 2,039 29,769
67,730 4,980 72,710
Activity Activity
undertaken support
directly costs 2023
£ £ £
Education 23,000 2,232 25,232
Health 27,000 2,619 29,619
General and arts and culture 13,920 1,350 15,270
63,920 6,201 70,121

In addition to the expenditure analysed above, there are also governance costs of £4,980 (2023 - £6,201) which relate directly to charitable activities. See note 6 for further details.

Page 13

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Fixed asset investments

11 Fixed asset investments
2024 2023
£ £
Investment properties 1,948,050 1,948,050
Investment properties
Investment
properties
£
Cost or Valuation
At 1 April 2023 1,948,050
Provision
At 31 March 2024 -
Net book value
At 31 March 2024 1,948,050
At 31 March 2023 1,948,050
There has been no valuation of investment property by an independent valuer.

Investment property comprises residential property with a fair value of £1,948,050. N D Gee is a trustee of the charity with considerable knowledge and experience of the properties, which have been stated at their fair values as at 31 March 2024 as assessed by him and with reference to rental yields and other available information. The trustees have confirmed that this valuation materially reflects the fair value of the property at the year end.

The historic cost of the investment properties is £1,570,000.

Page 14

The Nigel Gee Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

12 Creditors: amounts falling due within one year

12 Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 8,532 8,532
Accruals 9,300 7,374
17,832 15,906

13 Funds

13 Funds
Balance at 1 Incoming Resources Balance at 31
April 2023 resources expended March 2024
£ £ £ £
**Unrestricted ** funds
General 2,069,204 82,693 (83,105) 2,068,792
Balance at 1 Incoming Resources Balance at 31
April 2022 resources expended March 2023
£ £ £ £
**Unrestricted ** funds
General 1,990,859 161,570 (83,225) 2,069,204

14 Related party transactions

During the year the charity made the following related party transactions:

At 31 March 2024, the company owed one of its trustees £8,532 (2023: £8,532).

During the year, the company donated £12,500 (2023: £10,000) to Friends of Pilzno, a registered charity of which one of the company's trustees is also a trustee.

Page 15

The Nigel Gee Foundation

Statement of Financial Activities by fund for the Year Ended 31 March 2024

Unrestricted Funds
Total Total
Unrestricted Unrestricted
Funds Funds
2024 2023
£ £
Income and Endowments from:
Donations and legacies - 92,140
Investment income 82,693 69,430
Total income 82,693 161,570
Expenditure on:
Raising funds (10,395) (13,104)
Charitable activities (72,710) (70,121)
Total expenditure (83,105) (83,225)
Net (expenditure)/income (412) 78,345
Net movement in funds (412) 78,345
Reconciliation of funds
Total funds brought forward 2,069,204 1,990,859
Total funds carried forward 2,068,792 2,069,204

This page does not form part of the statutory financial statements. Page 16

The Nigel Gee Foundation

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Total Total
2024 2023
£ £
Income and Endowments from:
Donations and legacies (analysed below) - 92,140
Investment income (analysed below) 82,693 69,430
Total income 82,693 161,570
Expenditure on:
Raising funds (analysed below) (10,395) (13,104)
Charitable activities (analysed below) (72,710) (70,121)
Total expenditure (83,105) (83,225)
Net (expenditure)/income (412) 78,345
Net movement in funds (412) 78,345
Reconciliation of funds
Total funds brought forward 2,069,204 1,990,859
Total funds carried forward 2,068,792 2,069,204

This page does not form part of the statutory financial statements. Page 17

The Nigel Gee Foundation

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Total Total
2024 2023
£ £
Donations and legacies
Donations and legacies - 92,140
- 92,140
Investment income
Income from investment properties 79,963 69,430
Interest on cash deposits 2,730 -
82,693 69,430
Raising funds
Investment management (10,395) (13,104)
(10,395) (13,104)
Charitable activities
Grants payable - institutions (67,730) (63,920)
Independent examiner's fee (4,500) (5,670)
Bank charges (480) (531)
(72,710) (70,121)

This page does not form part of the statutory financial statements. Page 18

REFERENCE NUMBER FE6B93F7-AC4B-414F-A93E-EE5E4F0B87F5

SIGNATURE CERTIFICATE

TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name FE6B93F7-AC4B-414F-A93E-EE5E4F0B87F5 NGF 2024 for signature Transaction Type Filename Signature Request NGF_2024_for_signature_.pdf Sent At Pages 09/11/2024 12:50 +01 20 pages Executed At Content Type 09/11/2024 12:51 +01 application/pdf Identity Method File Size email 133 KB Distribution Method Original Checksum email Signed Checksum 46406e166548d6cc69346fa1f8ba738c3cf45972d9c6b5978e339fd750894e00 Signer Sequencing Disabled Document Passcode Disabled

f5bde7e9c3ae8e5438338ac1cf233c36dff890f1ec90d905259379cf1db3daf7

SIGNERS

SIGNER E-SIGNATURE EVENTS
Name Status Viewed At
Nigel Gee signed 09/11/2024 12:50 +01
Email Multi-factor Digital Fingerprint Checksum Identity Authenticated At
info@rfmassociates.com 448cab9c41508048d88f81c1db54cd60565fd268172546614c615005a7100578 09/11/2024 12:51 +01
Components IP Address Signed At
2 2.126.198.109 09/11/2024 12:51 +01
Device
Chrome via Mac
Typed Signature

Signature Reference ID FD7D2A1E

AUDITS

TIMESTAMP AUDIT
09/11/2024 12:50 +01 Richard Messik (rfmessik@rfmassociates.com) created document 'NGF_2024_for_signature_.pdf' on Chrome via
Mac from 52.45.54.47.
09/11/2024 12:50 +01 Nigel Gee (info@rfmassociates.com) was emailed a link to sign.
09/11/2024 12:50 +01 Nigel Gee (info@rfmassociates.com) viewed the document on Chrome via Mac from 2.126.198.109.
09/11/2024 12:51 +01 Nigel Gee (info@rfmassociates.com) authenticated via email on Chrome via Mac from 2.126.198.109.
09/11/2024 12:51 +01 Nigel Gee (info@rfmassociates.com) signed the document on Chrome via Mac from 2.126.198.109.

Richard Messik (rfmessik@rfmassociates.com) created document 'NGF_2024_for_signature_.pdf' on Chrome via Mac from 52.45.54.47. Nigel Gee (info@rfmassociates.com) was emailed a link to sign.

Nigel Gee (info@rfmassociates.com) viewed the document on Chrome via Mac from 2.126.198.109. Nigel Gee (info@rfmassociates.com) authenticated via email on Chrome via Mac from 2.126.198.109. Nigel Gee (info@rfmassociates.com) signed the document on Chrome via Mac from 2.126.198.109.