Charity number: 1154817 HASLERS, FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
HASLERS. FOUNDATION CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements
HASLERS. FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2024 Trustees J O'shea, Chair M Shah P Thain (appointed 13 June 2022) Charity registered number 1154817 Principal office Haslers Old Station Road Loughton Essex IG10 4PL Independent Examiner LES&Co 24 Tudor Close Woodford Green Essex IG8 OLF Page 1
HASLERS. FOUNDATION TRUSTEES. REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the Haslers, Foundation for the period ended 31 March 2024. Objectives and activities a. Policies and objectives The objectives of the Charity are.. To prevent or relieve poverty and financial hardship in the Charity's operational area" by providing grants. items and seNices to individuals in need andlor charities, or other organisations working to prevent or relieve povety., To relieve sickness and preseNe health among people residing permanently or temporarily in the Charity's operational area"; To advance in life and help young people through.. The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life., Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals., Advancing education Such other charitable purposes which may be charitable according to the law of England and Wales. "Operational area defined as London, Essex, Hertfordshire and Middlesex. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.- running a charity IPB2)'. b. Strategies for achieving objectives We review our activities regularly to measure how we have used our resources and the outcomes we have achieved. Page 2
HASLERS. FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Objectives and activities Icontinued c. Activities undertaken to achieve objectives All our charitable activities focus on making grants to disadvantaged individuals and groups that meet our criteria. These grants involve improving the lives of such people, whether its by relieving poverty, financial hardship, sickness, preseNing health and advancing the life in helping young people. Fundraising activitieslincome generation Many fundraising and sponsored events were held during the year by The Charity- Aditionally, individuals will raise funds through sponsorship at events. The Charity is also associated with Haslers, a Firm of Chartered Accountants and Business Advisers. Funds are raised by partners and staff of Haslers. Grants made During the period we continued to grant funds and resources to individuals and groups that met our criteria. Most of these applied to The Charity for support, however, on rare occasions, The Charity approached certain individuals and groups as publicity or word of mouth spread and we felt the cases met our criteria and that we could make a difference. In addition to the grants made, the partners of Haslers have agreed that each staff member can have an extra day of leave to volunteer. Promoting our service We advertise in local press for people to either support The Charity or apply for grants. The Charity is also recognised in the area and people are regularly spreading the availability of funds by word of mouth. d. Volunteers The trustees and members of the committee are all unpaid volunteers. The majority of their work is to consider applications for grants within each of the sub-committees. Other duties include fundraising and raising awareness of The Charity. Achievements and performance a. Review of activities During this period, the income generated and grants distributed were as expected. b. Investment policy and performance The funds shown in the accounts are held in a current account. Financial review Page 3
HASLERS, FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Principal funding Our principal sources of funding are.. Corporate donations, including the significant sums donated by the partners and staff of Haslers. Individual donations and personal fundraising- Fundraising events, such as the annual Quiz,. and Sponsorship for general fundraising activities. Structure, governance and management a. Constitution Haslers, Foundation is a registered charity, number 1154817. The work of The Charity began in 2008 before it became a registered charity on 1 December 2013. The Charity was established under a constitution which established the objects and powers of the charity- b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. During the year and as at the year end there were three trustees. The current members have between them knowledge and ski115 in.. management, fundraising, statistics, charity law and practice, taxation, accountancy and human resources. c. Policies adopted for the induction and tralning of Trustees The trustees are familiar with the practical work of the charity. New trustees will receive a copy of the Trust Deed, a copy of the Charity's latest report and statement of accounts, the Charity Commission publications outlining their obligations and a copy of the policies and procedures. New trustees will also have access to the Charity's historical correspondence and procedures. d. Trustees, indemnities The Charity does not currently have any indemnity insurance as the Trustees feel this is not required due to the lack of risk of its day-to-day business. Page 4
HASLERS, FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Structure, governance and management (continued) e. Organisational structure and decision making The Charity has a Committee of 10 members who meet on a monthly basis and are responsible for the strategic direction and policy of the charity. Two of these members are also trustees. The members are split into three equal sub-committees to focus on one of the three focus areas of the Charity, specifically.. Education and recreation Poverty and financial hardship Sickness and ill-health The final member of the committee is the chairperson of meetings. f. Risk management Systems and procedures have been established to minimise the risks the charity faces. All requests for funding must follow a strict procedure to be considered by the relevant sub-committee and ultimately, the committee. Plans for future periods We plan to continue granting funds and resources to as many requests as possible that meet our criteria. We will aim to continue to make a bigger impact on the smaller cases that need our help. We have no plans to recruit any more trustees or committee members as we feel there is a correct balance at present. We plan to continue to promote the work of The Charity in our current operational areas. We will do this by providing information and holding events in the local and surrounding areas We also aim to increase the number of requests that we receive each month by engaging with key targets {elderly, ill and young people). Page 5
HASLERS. FOUNDATION TRUSTEES. REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2024 Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity 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.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 102)., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accountirig Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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. Approved by order of the members the board of and signed on their behalf by.. Trustees on Shea (Chair of Trustees) Page 6
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of HH£L-d4 On accounts for the¥BaF ended a)JLk Charity no (if any) Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the par ended a l Gl Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention ( ') in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: ajaf Name: Relevant professional qualification(s) or body (if any): QA £LJ Address: OL IER October 2018
Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018
HASLERS. FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2022 Note Income from: Donations and legacies Fundraising activities Investments 24,586 17,652 24,586 17,652 25, 052 8,996 Total income 42,245 42,245 34,048 Expenditure on: Raising funds Charitable activities 3,850 31,383 3,850 31,383 1,997 14,359 Total expenditure 35,233 35,233 16,356 Net movement in funds 7.012 7.012 17,692 Reconciliation of funds: Total funds brought forward Net movement in funds 44,613 7,012 44.613 7,012 26,921 17,692 Totsl funds carried fonvard 51,625 51,625 44,613 The Statement of Financial Activities includes all gains and losses recognised in the period. The notes on pages 11 to 19 form part of these financial statements. Page 9
HASLERS. FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 31 December 2022 31 March 2024 Note Fixed assets Current assets Debtors 10 5,083 46,543 5, 795 38,818 Cash at bank and in hand 51,626 44,613 Net current assets 51,626 44,613 Total assets less current liabilities 51,626 44,613 Net assets excluding pension asset 51,626 44,613 Total net assets 51,626 44,613 Charity funds Restricted funds 12 12 Unrestricted funds 51,626 44,613 Total funds 51.626 44,613 The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by.. J O'shea Chair of Trustees) The notes on pages 11 to 19 form part of these financial statements. Page 10
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 General information Haslers, Foundation is a charitable organisation, registered in England and Wales, with a charity number of 1154817. The registered address is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 102) 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 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and 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 Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Haslers, 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. 2.2 Income 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 income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page11
HASLERS, FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Accounting policies (continued) 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2024 Totsl funds 2024 Page 12
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Income from donations and legacies (continued) Unrestricted funds 2024 Total funds 2024 Donations 25,297 (711) 25,297 (711) Similar incoming resources 24,586 24,586 Unrestricted funds 2022 Total funds 2022 Donations 25, 052 25, 052 Income from other trading activities Income from fundraising events Unrestricted funds 2024 Total funds 2024 Events and marketing 17,652 17.652 Unrestricted funds 2022 Total funds 2022 Events and marketing 8,996 8,996 Page 13
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2022 Investment income - local bank interest Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2024 Total funds 2024 Events and marketing 3,850 3,850 Unrestricted funds 2022 Total funds 2022 Events and marketing 1,997 1,997 Page 14
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Direct costs - Sickness Direct costs - Poverty Direct costs - Education 23,418 5,506 2,459 23,418 5,506 2,459 31,383 31,383 Unrestricted funds 2022 Total 2022 Direct costs - Sickness Direct costs - Poverty Direct costs - Education 5, 750 4, 824 3, 785 5, 750 4, 824 3, 785 14,359 14,359 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Direct costs - Sickness Direct costs - Poverty Direct costs - Education 23,168 5,506 2,459 250 23,418 5,506 2,459 31,133 250 31,383 Page 15
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Analysis of expenditure by activities {continued Activities undertaken directly 2022 Total funds 2022 Direct costs - Sickness 5, 750 4, 824 3, 785 5, 750 4,824 3, 785 Direct costs - Poverty Direct costs - Education 14,359 14,359 Analysis of direct costs Total funds 2024 Sickness 2024 Poverty Education 2024 2024 Donations 23,167 5,506 2,459 31,132 Total funds 2022 SiGkness 2022 Poverty 2022 Education 2022 Donations 5, 750 4, 824 3, 785 14,359 Trustses, remuneration and expenses During the period, no Trustees received any remuneration or other benefits (2022- £NIL). During the period ended 31 March 2024, no Trustee expenses have been incurred (2022- £NIL). Page 16
HASLERS, FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 10. Debtors 31 December 2022 31 March 2024 Due within one year Other debtors 5,083 5, 795 5,083 5, 795 11. Financial instruments 31 December 2022 31 March 2024 Financial assets Financial assets measured at fair value through income and expenditure 46,543 38,818 Financial assets measured at fair value through income and expenditure comprise cash at bank. Page 17
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 12. Statement of funds Statement of funds - current period Balance at 1 January 2023 Balance at 31 March 2024 Income Expenditure Unrestricted funds General Funds - all funds 44,613 42,245 135.232) 51,626 statement of funds - prior period Balance at 31 December 2022 Balance al 1 January 2022 Income Expenditure Unrestricted funds General Funds - all funds 26,921 34, 048 (16, 356) 44,613 13. Summary of funds Summary of funds - current period Balance at 1 January 2023 Balance at 31 March 2024 Income Expenditure General funds 44,613 42,245 (35,232) 51,626 Summary of funds - prior period Balance al 31 December 2022 Balance al l January 2022 Income Expenditure General funds 26,921 34,048 (16,356) 44,613 Page18
HASLERS. FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 14. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted funds - Unrestricted class li funds 31 March 31 March 2024 2024 Totsl funds 31 March 2024 Current assets 51,625 51,625 Total 51,625 51,625 Analysis of net assets between funds - prior period UnrestriGfed funds 31 December 2022 Total funds 31 Dernber 2022 Current assets 44,613 44,613 Total 44,613 44,613 Page 19