The Felix Dexter Foundation (A Charitable Incorporated Organisation)
Report and Financial Statements for the period ended 31st December 2022
Charity Number: 1155391
The Felix Dexter Foundation (A Charitable Incorporated Organisation)
Report and Financial Statements for the period ended 31 December 2022
Contents
| Page | |
|---|---|
| Trustees’ Report | 3 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Statement of Financial Position | 9 |
| Notes to the Financial Statements | 10 |
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(A Charitable Incorporated Organisation)
The Felix Dexter Foundation
The Trustees of the Charity present their Report and Accounts for the period ended 31 December 2022.
1. Reference and Administrative Details
Name of Charity:
The Felix Dexter Foundation
Charity Registration Number: 1155391
Registered & Operational Office: c/o Equi Vision Services Ltd Unit 19 Moran House 449-451 High Road LONDON NW10 2JJ Bankers: Lloyds Bank Blackheath Branch London SE3 9LH Independent Examiner Samuel K. Tsipotey, FCCA Chartered Certified Accountant 36 Charcroft Gardens Enfield Middlesex EN3 7HA
The Trustees who served during the period to the date of this report were:
| Name | Date appointed | Position |
|---|---|---|
| Geoff Schumann |
15 Jan 2015 | Chair |
| Paul Whitehouse |
15 Jan 2015 | Trustee |
| Yvonne Pauline Wilson | 19 Oct 2015 | Secretary |
| Hugh Edwards | 1 May 2023 | Trustee |
| Runilla Chilton | 04 Dec 2019 | Resigned 2 July 2023 |
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The Felix Dexter Foundation
(A Charitable Incorporated Organisation)
2. Structure, Governance and Management
Governing Document
The Felix Dexter Foundation is a Charitable Incorporated Organisation (CIO) having been incorporated on 20 January 2014 and is governed by its Constitution.
Appointment and induction of Trustees
The Trustees of the Charity are appointed by the other Trustees.
Organisational Structure
The Foundation is governed by its Board of Trustees, also known as the Executive Committee, which is responsible for setting the strategic direction and policies of the charity. The Executive Committee carry the ultimate responsibility for the conduct of the charity and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet at least four times a year.
Major risks
The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate them. The charity is relatively new and the Trustees are constantly in the process of identifying the major risks that the charity may face.
3. Objectives and Activities Objects
The objects of the charity as stated in its Articles of Association are:
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(1) Through promoting the Arts to assist young people in developing their lives through training, classes/workshops, and performances, providing a greater opportunity to excel in their chosen art forms, but in particular through comedy and drama.
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(2) Fostering, nurturing, empowering diversity amongst underrepresented groups within the arts.
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(3) Make provision for marginalised young people to gain access to scholarships, bursaries and maintenance allowances. Establish educational training and placement services in order to enhance the prospects for learning and gainful employment through educational initiatives, counselling and meaningful support for those youngsters whose families are blighted by poverty, lack of opportunity or social exclusion.
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(4) The advancement and promotion of health for all in such a way that every person especially those in need are afforded with information, education and support that enables them to improve their quality and longevity of life. To actively engage in the promoting and supporting with any statutory authority, person, scheme, project or charity which actively undertakes the prevention of illness or improvement of the quality of life of those affected by illness specifically those affected by cancer.
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(5) To actively raise funds and receive contributions where appropriate to finance our work. To provide financial assistance for such purposes either by loan, scholarships, bursary, or awards.
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(A Charitable Incorporated Organisation)
The Felix Dexter Foundation
4. Achievements and Performance
It has been another challenging year for the charity. Whilst maintaining a reasonable social media presence, we are hoping to continue to build on our current platforms both here and in St Kitts. Post Covid, we are nowhere near our targets regarding fundraising events and intentions.
We did not have any physical events this year but did have an online tribute event celebrating Felix’s achievements. The trust still remains financially solvent.
Moving forward
We are actively looking to attract new trustees. We aim to start a monthly Felix Dexter Comedy Club and another charity fundraising concert is also planned in the coming 12 months. The BBC have agreed to a Felix Dexter Comedy Day for 2023 and moves are gravitating towards a Felix Dexter radio documentary
In 2022 we are looking to continue with our aim of setting up a weekend comedy and drama school in the name of Felix. We will continue with planning a youth exchange to St Kitts and developing creative accredited courses both here in the UK and abroad.
We are planning a series of Felix Dexter podcasts and are in the process of asking a number of Felix’s former colleagues and friends to participate and assist us with this journey
We are actively seeking new patrons for the trust once again due to the pandemic our efforts thus far have been unsuccessful. But we actively looking to recruit new trustees. We are hoping to engage with organisations that will assist us with an intern to assist with our social media goals. We need to keep proactively promoting the evidence of our good work and practices
Our website fully promotes our activities and goals, all matters can be referenced from there. In 2021 we are hoping launch a Felix Dexter Exhibition and an open evening in relation to matters pertaining to the Felix Dexter Foundation.
We have lots of challenges ahead and are always looking for volunteers to assist us with the above tasks to continue promoting the great legacy of our late friend. Please feel free to peruse our website www.felixdexterfoundation.org.
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The Felix Dexter Foundation
(A Charitable Incorporated Organisation)
5. Financial Review
Financial Position
Incoming resources in the period amounted to £0 (2021-£324), and a deficit of £685 (2021-£1,192 deficit) was made in the year.
Reserves Policy
The trustees are required to ensure that free monies are available in each financial year to meet any reasonable unforeseeable contingency and also to cater for an unexpected fall in income.
In reviewing the potential costs that could arise should a significant reduction in income be suffered, the trustees have determined that 'free' reserves should be maintained equal to 12 months' normal total operating expenditure.
On behalf of the Board
Dated: 7[th] October 2023
Geoff Peter Schumann Chair
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(A Charitable Incorporated Organisation)
The Felix Dexter Foundation
Independent Examiner’s Report to the Trustees of The Felix Dexter Foundation
I report on the accounts of the Foundation for the period ended 31 December 2022 which are set out on pages 8 to 12.
Respective Responsibilities of Trustees and Examiner
The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants (ACCA).
Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting
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requirements and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Samuel K Tsipotey, FCCA
Samuel & Associates 36 Charcroft Gardens Enfield Middlesex EN3 7HA
9th October 2023
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The Felix Dexter Foundation
(A Charitable Incorporated Organisation)
Statement of Financial Activities for the year ended 31 December 2022
| Notes | Unrestricted Funds |
Total 2022 | Total 2021 | |
|---|---|---|---|---|
| Income from: | £ | £ | £ | |
| Donations | 2 | - | - | 324 |
| - | - | 324 | ||
| Expenditure on: | ||||
| Charitable activities | 3 | 685 | 685 | 1,516 |
| Net movement in funds | (685) | (685) | (1,192) | |
| Reconciliation of funds | ||||
| Total funds as at 01 Jan 2022 | 25,231 | 25,231 | 26,423 | |
| Total funds as at 31 Dec 2022 | 24,546 | 24,546 | 25,231 |
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The Felix Dexter Foundation
(A Charitable Incorporated Organisation)
| Balance Sheet as at 31 December 2022 Note Current assets: Cash at bank and in hand Current Liabilities: Creditors due within one year 4 Net current assets Net Assets Funds of the charity: 6 Unrestricted funds |
Unrestricted Funds Total Total 2022 2022 2021 |
|---|---|
| £ £ £ 24,746 24,746 25,531 |
|
| 24,746 24,746 25,531 (200) (200) (300) |
|
| 24,546 24,546 25,231 |
|
| 24,546 24,546 25,231 |
|
| 24,546 24,546 25,231 |
The financial statements were approved by the Board of Trustees
on 7th October, 2023
and signed on its behalf by:
Ms Yvonne Wilson
Secretary
Charity registration number 1155391
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The Felix Dexter Foundation
(A Charitable Incorporated Organisation)
Notes to the Financial Statements for the year ended 31 December 2022
1. Accounting Policies
The principal accounting policies are summarized below. The accounting policies have been applied consistently throughout the year and the preceding year.
a) Basis of Preparation
The financial statements have been prepared under the historical cost convention in accordance with the Statement of Recommended Practice (SORP): Accounting and Reporting by Charities, issued in March 2005.
b) Fund Accounting
Unrestricted Funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the Trustees in furtherance of the Charity’s objects and that have not been designated for other purposes.
Restricted Funds are funds subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
c) Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities when
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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• the monetary value can be measured with sufficient reliability.
d) Resources Expended
Recognition of Expenditure and Liabilities
Liabilities are recognized as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Expenditure is recognized on an accruals basis as a liability is incurred.
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e) Costs of Charitable Activities
These comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. They include both costs that can be directly allocated to the charity’s activities and costs of an indirect nature necessary to support these activities .
Governance Costs
These are the costs associated with the governance arrangements of the charity. They include the costs of the preparation and examination of statutory accounts, trustees meetings and the costs of any legal advice given to trustees on governance or constitutional matters.
All costs are charged between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity (or project) are allocated directly; others are apportioned on an appropriate on an appropriate basis. Governance costs are included in the Costs of Charitable Activities
2. Income from donations
| Donations Total |
Unrestricted Total Funds 2022 £ £ - - - - |
Total 2021 |
|---|---|---|
| £ 324 |
||
| 324 |
3. Charitable activities
| Storage Website expenses Travel Governance Costs (Note 4) Total |
Unrestricted Funds Total 2022 2022 |
Total 2021 |
|---|---|---|
| £ £ - - 302 302 - - 383 383 |
£ 200 445 250 622 |
|
| 685 685 |
1,516 |
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4. Governance costs
| 4. Governance costs | ||
|---|---|---|
| Independent Examiner's Fee Trustee Expenses Bank charges |
Total 2022 2022 |
Total 2021 |
| £ £ 200 200 99 99 84 84 |
£ 300 - 80 |
|
| Total | 383 383 |
380 |
5. Creditors: amounts due within one year
| 5. Creditors: amounts due within one year | |
|---|---|
| Independent examination fees | 2022 2021 £ £ |
| 200 300 |
6. Funds of the charity
| Funds of the charity | |
|---|---|
| Unrestricted funds General fund |
As at 01 Jan 2022 Incoming Resources Outgoing Resources As at 31 Dec 2022 £ £ £ £ |
| 25,231 - (685) 24,546 |
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