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2023-04-30-accounts

THE BERKELEY CHARITABLE FOUNDATION

Report and Financial Statements

For the period ended 30 April 2023

Company Number: 8548400 Registered charity in England and Wales: 1152596

Contents

Page
Reference and Administrative Information 2
Trustees' Report 3
Statement of Trustees' Responsibilities 11
Independent Auditor's Report to the members of The Berkeley Charitable Foundation 12
Statement of Financial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes forming part of the Financial Statements 18

Reference and Administrative Information

Directors and Trustees

The Directors of the charitable company (the Charity) are its Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees.

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

Robert C G Perrins Wendy J Pritchard Elaine A Driver (resigned 18 November 2022) Alison J Dowsett Piers M Clanford (appointed 19 January 2023) The Venerable Elizabeth Adekunle (appointed 11 July 2023)

Senior Management

Sally R Dickinson (Head of Foundation)

Registered office

Berkeley House 19 Portsmouth Road Cobham KT11 1JG

Banker

Barclays Bank Pie 1 Churchill Place London E14 5HP

Solicitor

Harbottle & Lewis LLP Hanover House 14 Hanover Square London W1 S 1 HP

Auditor

KPMG LLP 15 Canada Square London E14 5GL Charity registration number: 1152596 Company registration number: 8548400

2

Trustees' Report

The Trustees present their report and accounts for the year ended 30 April 2023 ("the year").

The accounts have been prepared in accordance with the policies set out in note 1 to the financial statements and comply with applicable law 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 2015).

Structure, Governance and Management

Governance

The Berkeley Charitable Foundation ("the Foundation"), a company limited by guarantee, was originally incorporated under the Companies Act 2006 on 29 May 2013 as The Berkeley Foundation 2013 and subsequently renamed The Berkeley Charitable Foundation on 22 July 2013.

The Charity's governing document is its Memorandum and Articles of Association and this sets out the Foundation's charitable objectives.

Organisation and Appointment of Trustees

The statutory power of appointing a new Trustee is vested in the Trustees of the charity. The number of Trustees shall not be permitted to fall below three.

The Trustees who have served during the year are set out on page 2.

Trustee Induction and Training

On appointment all Trustees go through an induction process, explaining how the Foundation operates, what its purpose is and where the focus for charitable giving lies. Trustees have appropriate knowledge and training for their role, and the Foundation has experienced personnel in investment matters.

Regular reporting allows the Trustees to maintain close control of the Foundation's activities.

Organisational Structure and Decision Making

The Trustees meet quarterly and set the strategic goals of the Foundation. This includes the choice of charities supported, specific projects funded, the level of financial support and any external promotion. Trustees seek clear evidence of impact from partner charities.

The Trustees retain responsibility for all policy and decision making.

The Finance, Audit and Risk Committee also meets quarterly, between Trustee meetings, and is responsible for reviewing the system of internal control and risk management of the Foundation, reviewing applications to the Foundation for funding, reviewing the Foundation's communication plans and overseeing the annual audit.

Officers, who are employees of The Berkeley Group, undertake the administration of the Foundation.

Reports on progress against key organisational performance metrics are provided to each Trustee and Finance, Audit and Risk Committee meeting.

3

Related Parties

The Berkeley Group provided goods and services to the value of £473,679 without charge (2022: £435,914), which is shown in the financial statements as both income and expenditure.

During the year ended 30 April 2023, Rob Perrins was a Trustee of Crisis and Wendy Pritchard was a Trustee of Richard House, charities that are supported by the Foundation through grants. Whilst these charities are not deemed related parties, disclosure is provided for transparency.

The relevant Trustee does not take part in the decisions concerning the approval of funding commitments to the respective charity.

Risk Management

A risk register for the Foundation, incorporating the key risks facing the organisation, is regularly reviewed by the Finance, Audit and Risk Committee and updated where necessary. This is presented at the quarterly Trustees' meeting and approved annually by the Trustees.

The principal risks of the Foundation include public perception, adverse publicity and fraud.

The Foundation has policies, systems and procedures in place to mitigate these risks where practical, with support from Berkeley Group functions where necessary, including finance and communications. In respect of the principal risks identified, this includes ensuring good quality and regular external reporting of the charity's activities and financial position, and appropriate segregation of duties and authority limits.

In addition, a report is provided annually to the Trustees on the internal financial controls within the charity. The report presented to the Trustees in both August 2022 and 2023 concluded that the internal financial controls were fit for purpose and proportionate to the scale and complexity of the Foundation's business.

Strategy and Vision

Our 2030 strategy, A Force for Change, was launched in 2021.

Developed with our board of trustees, charity partners and key stakeholders from across Berkeley Group, the strategy builds on the recommendations from the Institute of Voluntary Action Research's ten-year evaluation of the Foundation's work, particularly feedback gathered from charity partners through four focus groups and an anonymous survey.

Our 2030 vision is that young people and their communities will have the tools and resources they need to thrive and be a force for change in the world.

Our vision is supported by five impact goals, which define the difference we want to make through our work:

  1. A safe place to call home Everyone has somewhere to live that is safe, secure and sustainable

  2. Journey to employment

  3. Every young person is prepared for work and has the opportunity to build a sustainable career

  4. Health and wellbeing Everyone has the support they need to live happier, healthier lives.

  5. Youth leadership

  6. Young people are empowered to positively impact their own lives and the communities in which they live

  7. A resilient voluntary sector

  8. Our communities include a voluntary sector that is effective, inclusive and well resourced

4

The first three of these see us continuing our longstanding work to tackle homelessness, ensure young people can access decent, sustainable employment, and support good physical and mental health. Our new fourth goal of "Youth leadership" will fund more work to develop the next generation of young leaders, and ensure that young people are able to influence positive change in their own lives and in their communities.

Finally, our work under "A resilient voluntary sector" is supporting small to medium charities and CICs to build their organisational resilience - their ability to plan for, cope with, and respond to change - whether through improved governance and people power, better financial planning or stronger systems and strategies. In this way, we hope to ensure that they will be around to support young people and their communities for many years to come.

Our five impact goals are supported by five commitments about the way we'll work:

  1. We'll work in partnership with expert charities, investing in their work to help young people thrive

  2. We'll add value to our partnerships through our expertise, networks and relationship with Berkeley Group

  3. We'll learn from our work and share our learning across the public, private and voluntary sectors

  4. We'll ensure that diversity, equity and inclusion is at the heart of everything we do

  5. We'll enable young people to play an active role in the Foundation's work

Our activities and progress in each of these areas is reported over the following pages.

Activities and achievements

Activities

The Foundation aims to improve the lives of young people and their communities in London, Birmingham and the South of England in line with five deeply interconnected impact goals: (1) A safe place to call home, (2) Journey to employment, (3) Health and wellbeing, (4) Youth leadership and (5) A resilient voluntary sector.

To do this, the Foundation makes grants and works in partnership with expert charities and Community Interest Companies (CICs). We have three main levels of charitable partnership:

Over the last 12 months, our partnerships have reached 11,613 people across London, the South of England and Birmingham. We have donated £3.9 million to the voluntary sector through Foundation grants (£2.9 million) and staff fundraising direct to our charity partners (£1 million), and seen 59% of Berkeley staff get involved through fundraising, volunteering and Give As You Earn.

We continue to run a match funding scheme which matches Berkeley staff fundraising, volunteering and Give As You Earn contributions to our charity partners. During the year we paid £353,000 in match funding.

5

We remain committed to building strong, enduring and trust-based relationships with our charity partners, and believe that investing for the long term is the best way to maximise the impact of our funding. It enables us to build truly impactful partnerships which can harness skills, expertise, brand and reach, as well as funding.

Strategic Partnerships

Our Strategic Partnerships are central to our charitable giving and stretch across our five impact goals. They provide a core of strong, well-resourced, long-term partnerships, addressing the needs of the most disadvantaged people in society by combining the expertise and high-quality delivery of our charity partners with the skills, resources and networks of the Berkeley Foundation.

A brief summary of each of the eight partnerships we supported during the year is provided below:

Community Partnerships

We have 20 local partnerships with organisations nominated and selected by our staff. These range from grassroots homelessness projects to children's hospices.

They are long-term relationships lasting at least three years and, in some cases, much longer. This gives the two organisations the chance to really get to know and understand each other. A partnership plan is developed which focuses not only on support through fund raising but also on staff volunteering and capacity building.

Community Partnerships are the main focus of staff fundraising across the Berkeley business. This year was record-breaking with staff raising £945,000 for their local partners (2022: £795,000), through a wide variety of fund raising events and through Give as You Earn. This money can make a huge difference to the small-to-medium sized organisations we support.

6

Resilience Fund

This year we launched the second year of our Resilience Fund, a funding programme which aims to help small-to-medium sized charities and CICs build their organisational resilience and sustainability for the future. This was in response to the ongoing impact of the pandemic and the rising cost of living on people in our communities, and the increased pressure this places on charities as they strive to meet rising demand in an increasingly challenging funding environment.

Our work has continued with the ten youth employment organisations receiving grants in the fund's first year and we have now made a further ten grants, supporting organisations working to improve the mental wellbeing of young people from Black and Minoritised communities. We are looking forward to beginning our learning journey with these organisations.

Achievements

The year has seen good progress against each of the impact goals and commitments set out in our 2030 strategy. Our achievements in the year are summarised below:

2030 Goal Achievements in 2022/23
A safe place to call home
Everyone has somewhere to live that
is safe, secure and sustainable		 ~~-~~
We invested £1.1 million in charities working to give
everyone a safe and sustainable place to call home
(2022: £954,000)
-
Our partnerships with homelessness charities supported
891 people experiencing or at risk of homelessness
(2022: 1,891)
-
Building on our work together during the pandemic, we
launched a new Strategic Partnership with youth
homelessness charity New Horizon Youth Centre.
-
We also renewed our long-standing partnership with
Crisis for another year.
Journey to employment
Every young person is prepared for
work and has the opportunity to build a
sustainable career		 ~~-~~
We invested £610,000 in charities working to help young
people prepare for employment and build a sustainable
career (2022: £676,000)
-
Our partnerships with employment and skills charities
supported 2,438 young people (2022: 2,031)
Health and wellbeing
Everyone has the support they need to
live happier, healthier lives		 ~~-~~
We invested £1.7 million in charities supporting young
people and their communities to live happier, healthier
lives (2022: £1.5 million).
-
Our partnerships with health and wellbeing charities
reached 8,208 people in our local communities (2022:
8,398).
-
Through the second year of our Resilience Fund, we
partnered with 10 organisations focused on improving the
mental health and wellbeing of young people from Black
and Minoritised communities.
Youth leadership
~~-~~
We invested £138,000 in charities working to ensure that
Young people are empowered to
young people can positively impact their own lives and
positively impact their own lives and
the communities in which they live (2022: nil).
the communities in which they live
-
Our partnerships with youth leadership organisations
reached 76 young people (2022: nil).
-
We launched new partnerships with Groundwork London,
which is supporting young people to build their leadership
skills and improve local green spaces, and St Basils
Youth Voice, which is supporting young people with
experience of homelessness to influence homelessness
services and policies.

7

2030 Goal Achievements in 2022/23
A resilient voluntary sector
Our communities are supported by a
voluntary sector that is effective,
inclusive and well-resourced		 ~~-~~
We invested £328,000 through our Resilience Fund, to
help small-to-medium sized voluntary sector
organisations build their organisational resilience (2022:
£152,000)
-
We supported 10 new organisations through the second
year of the fund (2022: 10).
-
We implemented a three-pronged strategy to support our
charity partners through the cost of living crisis, including
distributing £65,000 in additional funding.

To help us reach our impact goals, we've set commitments to ensure we are working in a way that reflects our vision and aligns with our strategy. They cement our belief in partnership working and including young people in decision-making processes.


people in decision-making processes.
2030 Commitment Achievements in 2022/23
Partnerships
We'll build partnerships with expert
charities, investing in their work to help
communities thrive		 -
We extended one of our current charity partnerships, and
made commitments to 13 new charity partners
-
The average length of our current partnerships is now 3.7
years (2022: 2.6 years)
-
46% of our total funding was unrestricted or allocated to
core costs (2022: 44%)
-
We reviewed and refreshed our commitment to IVAR's
eight principles for Open and Trusting Grantmaking.
Adding value
We'll add value to our partnerships
through our expertise, netorks and
Learning and sharing
We'll learn from our work and share
our learning across the public, private
and voluntarsectors		 ~~-~~
59% of Berkeley staff got involved in supporting our
partnerships, through fundraising, volunteering or payroll
giving (2022: 55%).
-
Berkeley staff raised £1,035,000 for the Foundation and
our charity partners - a record for a single year (2022:
£869,000).
-
We launched a new Volunteering Hub fr Berkeley staff,
providing a central platform for staff to access
volunteering opportunities.
-
We delivered three learning events in the year, bringing
our charity partners together to network and share
expertise (2022: two events).

Diversity, equity and inclusion
We'll ensure that diversity, equity and
inclusion is at the heart of everything
we do
Youth participation
We'll enable young people to play
an active role in the Foundation's work		 ~~-~~
70% of grants made in Year 2 of our Resilience Fund
went to organisations led by-and-for the communities they
serve (Year 1: 30%).
-
We held two external grant panels, involving
representatives from our charity partners in our funding
decisions.
-
We finalised our Equity, Diversity and Inclusion plan,
ready for publication in 2023/24.
-
We created a new apprenticeship for a young person
within the Berkeley Foundation team.
-
We hosted a Resilience Fund Youth Panel, involving
young people directly in our funding decisions for the first
time.

8

Financial review

Funding for the Foundation comes from a variety of sources. The Berkeley Group staff raise money through sponsorship, Give As You Earn and by donating their time and talents. The Berkeley Group matches any monies raised, as well as providing the Foundation's 'core' funding, paying its overheads and covering the cost of specific events. We also received a number of direct donations from individuals and companies who support our work.

Income for the year was £3,355,444 (2022: £2,627,797). This includes funding received from The Berkeley Group in respect of commitments and grants to charities approved by the Trustees, donated services from The Berkeley Group, amounts raised directly for the Foundation through fundraising and Give As You Earn contributions, and direct donations from individuals and companies. Some of these commitments span a number of years and the committed funding is received up front from The Berkeley Group.

Income increased in the year primarily due to the increase in the level of commitments made in the year, as set out below. The Berkeley Group has again advance funded commitments forecast for the next financial year.

The Foundation also received over £30,000 in donations and associated gift aid from a collection at the memorial service for our late founding board member, Tony Pidgley CBE, which was held in the year, and other gifts received in Tony's memory. These generous donations will contribute towards the Foundation's support of two 'Tony Pidgley Fellowships', hosted by the Association of British Neurologists.

Expenditure in the year totalled £3,458,546 (2022: £2,595,592). This related to commitments and grants to Strategic Partnerships, Designated Charities and grants and donations to other charities within the Foundation's core focus areas, as well as support costs paid for by The Berkeley Group. The level of commitments made in the year increased, primarily due to three year commitments to our two new Strategic Partnerships, New Horizon Youth Centre and Groundworks.

Grants and donations totalling £2,873,655 were physically paid by the Foundation during the year (2022: £2,478,601). The Foundation made no political donations during the year (2022: nil).

In addition, a further £991,146 was raised by Berkeley Group staff via fundraising and Give As You Earn and donated directly to the Foundation's partner charities in the year (2022: £815,986). This amount is not reflected in these financial statements. The value of the time and talent donated by Berkeley Group staff is also not included in these financial statements.

A significant percentage of The Berkeley Group staff support the work of the Foundation through direct giving, fundraising and volunteering. 1,634 current Berkeley staff contributed to the Foundation in 2022/23 (59%), and 30% of all Berkeley staff were signed up to Give As You Earn at April 2023.

The charity is in a net asset position at the year-end of £1,749,073 (2022: £1,852,175), with all funds being unrestricted.

The Foundation is forward funded by Berkeley Group at each balance sheet date with all commitments approved by the Trustees, and all costs of the Foundation being borne by The Berkeley Group. In addition, advance funding has again been received before the year end from The Berkeley Group for other commitments forecast for the coming year not yet approved.

These matters have been assessed when considering the Basis of Preparation for the financial statements, as set out on page 18.

Reserves policy

The Trustees' policy is to maintain sufficient reserves to meet existing and forecast commitments to charities. The reserves held at 30 April 2023, as set out in note 8 to the financial statements, complied with this policy as, given there are no running costs incurred by the Foundation, all reserves are available for distribution. The running costs of the Foundation are paid by The Berkeley Group, as set out in notes 3 and 4 to the financial statements.

9

Future actions

As part of our new 2030 strategy launched in 2021/22, we set a series of three-year objectives against each of our five impact goals and our five commitments about the way we will work over the coming years.

We have set a series of objectives for the coming year against each of these, to build on our work and achievements in 2022/23 and to further grow and develop our work. Objectives for the coming year include:

Public Benefit

The Trustees confirm that they have complied with their duty to have regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties, including when reviewing the Foundation's aims and objectives and in planning future activities and setting grant making policy for the period.

The public benefit of the Charity's activities is outlined under Mission Statement, Vision and Values; Activities and Achievements; and Future Actions above.

IO

Statement of Trustees' responsibilities in respect of the Trustees' Report and the financial statements

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law they have are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

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 the 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 responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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By orde] e board
W J Pritchard
j
Trustee
25 January 2024
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11

Independent auditor's report to the members of The Berkeley Charitable Foundation

Opinion

We have audited the financial statements ofThe Berkeley Charitable Foundation ("the charitable company") for the year ended 30 April 2023 which comprise the Statement of Financial Activities, Balance Sheet, Cash flow statement and related notes, including the accounting policies in note 1.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the charitable company in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The Trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the charitable company or to cease its operations, and as they have concluded that the charitable company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").

In our evaluation of the Trustees' conclusions, we considered the inherent risks to the charitable company's business model and analysed how these risks might affect the charitable company's financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the charitable company will continue in operation.

Fraud and breaches of laws and regulations - ability to detect

Identifying and responding to risks of material misstatement due to fraud

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

12

As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because of the way in which donations and other income are generated from The Berkeley Group and paid over to the charitable company, which does not create an incentive or opportunity to manipulate the recognition of revenue.

We did not identify any additional fraud risks.

In determining the audit procedures, we took into account the results of our evaluation and testing of the operating effectiveness of the charitable company's fraud risk management controls.

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with management and discussed the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation and charity law), and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the charitable company is subject to many other laws and regulations, we did not identify any others where the consequences of non-compliance alone could have a material effect on amounts or disclosures in the financial statements.

Other information

The Trustees are responsible for the other information, which comprises the Trustees' Annual Report. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work:

Matters on which we are required to report by exception

Under the Companies Act 2006 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

13

Trustees' responsibilities

As explained more fully in their statement set out on page 11, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor's report. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC's website at www.frc.org. uk/aud itorsresponsibilities.

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanne Lees (Senior Statutory Auditor)

for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants

15 Canada Square, London, E14 5GL

26 January 2024

14

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Statement of Financial Activities (incorporating the Income & Expenditure account)

for the year ended 30 April 2023

Income from:
Donations and legacies
Investments
Total
Expenditure on:
Charitable activities
Other
Total
Net (expenditure)/income
Reconciliation of funds:
Total funds brought forard
Total funds carried forward
Note
3
4		 2023
Unrestricted
funds
£
3,301,105
54,339
3,355,444
(3,458,377)
(169)
(3,458,546)
(103,102)
1,852,175
1,749,073		 2022
Unrestricted
funds
£
2,623,164
4,633		 2022
Unrestricted
funds
£
2,623,164
4,633
2,627,797
(2,595,378)
(214)
(2,595,592)
32,205
1,819,970
1,852,175

The notes on pages 18 to 22 form part of these financial statements.

The income and resulting net expenditure in the financial year arise from continuing operations. There are no recognised gains and losses other than those disclosed above.

15

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Balance Sheet

at 30 April 2023

Current assets
Debtors
Cash at bank
Creditors: amounts falling due within one
year
Net current assets
Creditors: amounts falling due after one
year
Net assets
Funds
Unrestricted:
General
Designated
Note
6
7
7
8
8		 2023
11,822
4,195,776
4,207,598
(1,685,364)
2,522,234
(773,161)
1,749,073
1,749,073
1,749,073		 2022
£
5,992
4,193,665		 2022
£
5,992
4,193,665
4,199,657
(1,496,561)
2,703,096
(850,921)
1,852,175
1,852,175
1,852,175

The notes on pages 18 to 22 form part of these financial statements.

These nancial stateme s ere approved by the Board of Trustees on 25 January 2024 and were signed on its , ehalf by:

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� J Pritcha::J
Trustee
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16

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Cash flow statement

Note
Cash flows from operating activities
a
Cash flows from investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
b
Cash and cash equivalents at the end of
the reporting period
b
NOTES TO THE CASH FLOW STATEMENT
a. Reconciliation of net expenditure to
net cash flow from operating activities
Net (expenditure)/income for the reporting
period
Income from investments
(Increase) in debtors
lncrease/(decrease) in creditors
Net cash flows from operating activities
b. Analysis of cash and cash
equivalents
Cash at bank		 2023
£
(52,228)
54,339
2,111
4,193,665
4,195,776
2023
£
(103,102)
(54,339)
(5,830)
111,043
(52,228)
2023
£
4,195,776		 2022
£
(292,347)
4,633
(287,714)
4,481,379
4,193,665
2022
£
32,205
(4,633)
(782)
(319,137)
(292,347)
2022
£
4,193,665

17

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Notes

(forming part of the financial statements)

1 Accounting policies

1.1 Basis of preparation and Going Concern

The financial statements have been prepared under the historical cost convention and 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Foundation meets the definition of a public benefit entity under FRS 102.

The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.

The charitable company is forward funded by The Berkeley Group at each balance sheet date with all commitments approved by the Trustees and charged to the Statement of Financial Activities. In addition advance funding was again received before the year end from The Berkeley Group for other commitments forecast for the coming year not yet approved.

The Berkeley Group has indicated their commitment to continuing the activities of the charitable company for a period of at least the next 12 months from the date of signing of these financial statements.

Consequently, the Trustees are confident that the charitable company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

The Trustees are also of the view that there are no material uncertainties about the entity's ability to continue as a going concern.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.2 Income

Income is recognised when:

1.3 Expenditure and liabilities

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Grants payable are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

The estimated value of the time of staff employed by The Berkeley Group is accounted for as donated services, as are the costs paid for by The Berkeley Group on behalf of the Foundation. An equal amount is accounted for as a cost within support or governance costs as appropriate.

Governance costs represent the costs of meeting legal, constitutional and statutory requirements of the Foundation.

18

THE BERKELEY CHARITABLE FOUND A TlON Trustees' Rep01t and Financial Statements 30 April 2023

Notes

(forming part of the financial statements)

1.4

Fund accounting

The Foundation has various types of funds for which it is responsible and which require separate disclosure:

Restricted Funds

Donations that are subject to specific conditions specified by the donor are recorded as restricted funds. From these funds, the donations and any income derived there from may only be utilised in accordance with the specific conditions. There were no Restricted Funds at the period end.

Unrestricted funds

The Foundation has two categories of unrestricted funds:

General Funds - These funds are expendable at the discretion of the Trustees in furtherance of the ob[j] ectives of the Foundation. These resources arise from the accumulated surpluses and deficits on the provision of general charitable activities.

Designated Funds - These funds have a designated purpose as determined by the Trustees. Designated funds remain at the discretion of the Trustees and may be transferred to general funds if deemed necessary.

1.5 Taxation

The Berkeley Charitable Foundation is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, the charity is exempt from taxation in respect of income or capital gains received within categories covered by Part 10 Income Tax Act 2007 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. No tax charge has arisen in the period.

1.6 Income from investments

Income from investments represents bank interest earned up to the balance sheet date.

2 Legal status of the charity

The charity is a company limited by guarantee, incorporated in the UK, and has no share capital. In the case of an insolvent winding up the members will be required to contribute the amount of £1 each to the assets of the charity.

3 Income

ncome
2023
£
Funding from The Berkeley Group
2,750,000
Fundraising and Gif Aid
3,511
GA YE(including match funding)
44,092
Other donations
29,823
Donated services
473,679
3,301,105		 2022
£
2,100,000
16,085
69,965
1,200
435,914
2,623,164

Funding from The Berkeley Group is primarily in respect of the forward funding of commitments and grants approved by the Trustees and charged to the Statement of Financial Activities in the year, as set out in the Foundation's Reserves Policy on[p] age 9.

19

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Notes (continued) (forming part of the financial statements)

Donated services reflect the approximate cost of services provided free of charge to the charity by The Berkeley Group, and the costs paid for by The Berkeley Group on behalf of the Foundation. These costs, totalling £463,158 (2022: £425,790), are included in charitable activities, as set out in note 4 below.

In addition, KPMG LLP audit fees and Trustee indemnity insurance are paid for by The Berkeley Group. These costs, totalling £10,521 (2022: £10,124), are also set out in note 4 below.

4 Charitable activities

Commitments charged in the year (Note 5)
Suppor costs allocated
Governance costs		 2023
£
2,984,698
463,158
10,521
3,458,377		 2022
£
2,159,464
425,790
10,124
2,595,378

Support costs allocated

The average number of staff working for the Foundation during the year (full time equivalent) was five (2022: five). They are employed, and have their costs paid for, by The Berkeley Group. Additional support is also provided to the Foundation by other employees of The Berkeley Group.

Emoluments and reimbursed expenses were not paid to any Trustees during the period, who are all employees of The Berkeley Group.

The aggregate payroll costs of the staff working for the Foundation, and of employee services provided by The Berkeley Group are:


mployees of The Berkeley Group.
he aggregate payroll costs of the staff working for the Foundation, and of
y The Berkeley Group are:
employee s
2023
£
Wages and salaries
328,666
Employer's National Insurance
38,370
Pension costs
12,723
379,759		 2022
£
274,179
31,728
12,184
318,091

In addition, other costs of £83,399 were paid by The Berkeley Group on behalf of the Foundation (2022: £107,699).

Governance costs

Governance costs comprise KPMG LLP audit fees and Trustee indemnity insurance, as set out below:

Trustee indemnity insurance
Fees payable to auditor - external audit		 2023
£
5,521
5,000
10,521		 2022
£
5,124
5,000
10,124

20

THE BERKELEY CHARITABLE FOUNDATION Trustees' Report and Financial Statements 30 April 2023

Notes (continued)

{forming part of the financial statements)

5 Grants and Commitments

During the year £2,984,698 of grants and commitments made were charged to the Statement of Financial Activities.


Activities.
Beneficiary
Strategic Partnerships
Imperial College
New Horizon Youth Centre
Crisis
Groundworks
Mayor's Fund for London
The Change Foundation
MyBnk
St Basils
Association of British Neurologists
Other charities (£50,000 or less)
Release of commitments previously made		 2023
£
600,000
450,000
437,286
300,000
255,000
114,483
827,929
2,984,698		 2022
£
135,139
1,040,469
210,000
773,856
2,159,464

The commitments to the Foundation's Strategic Partnerships are multi-year agreements with payments due on specific dates.

Payments made during the year are set out below:

ayments made during the year are set out below:
Grants payable brought forard (note 7)
Amounts charged to the Statement of Financial Activities
Payments in the year:
Grants and donations
Grants payable carried forard (note 7)		 2023
£
2,347,482
2,984,698
5,332,180
(2,873,655)
2,458,525		 2022
£
2,666,619
2,159,464
4,826,083
(2,478,601)
2,347,482

21

THE BERKELEY CHARITABLE FOUNDATION Tmstees' Report and Financial Statements 30 April 2023

Notes (continued)

(forming part of the financial statements)

6
Debtors
Fundraising and Give As You Earn
Bank interest
7
Creditors
Amounts falling due within one year - grants
payable
Amounts falling due after one year - grants payable		 2023
£
3,525
8,297
11,822
2023
£
1,685,364
773,161		 2022
£
3,906
2,086
5,992
2022
£
1,496,561
850,921
8
Movement of funds
Opening balance
Income
Transfers
Expenditure
Funds at 30 April 2023		 General
£
1,852,175
3,355,444
(3,458,546)
1,749,073
Unrestricted
Designated
£
Total
£
1,852,175
3,355,444
(3,458,546)
1,749,073

Designated funds have a designated purpose as determined by the Trustees.

9 Related Party Transactions

The Berkeley Group has provided funding to the Foundation and has also provided donated services, as set out in notes 3 and 4 above.

22