DocuSign Envelope ID: B18E22AC-447B-4562-93C7-BA73D844845E
Charity number: 1155477
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
EYRE FAMILY FOUNDATION
DocuSign Envelope ID: B18E22AC-447B-4562-93C7-BA73D844845E
EYRE FAMILY FOUNDATION
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
DocuSign Envelope ID: B18E22AC-447B-4562-93C7-BA73D844845E
EYRE FAMILY FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
Trustees
J Eyre K Eyre
Charity registered number 1155477 Principal office Alscot Lodge Alscot Lane Princes Risborough HP27 9RU
Accountants Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF
Independent Examiner
Janice Matthews Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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EYRE FAMILY FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their Annual Report and the financial statements for the year ended 31 March 2021. They are satisfied that the financial statements comply with the requirements of the Charities Act 2011, the Trust Deed and the Statement of Recommended Practice issued in March 2008.
Reference and Administrative Details
The Charity is constituted as a Deed of Trust dated 18 February 2013 and was registered with the Charity Commission on 24 January 2014. Trustees who served during the period to 31 March 2021 were Mr JHR Eyre and Mrs KF Eyre. The principal address is:
c/o KF Eyre Alscot Lodge Alscot Lane Princes Risborough HP27 9RU
Structure, Governance and Management
The Trustees administer the Charity and also meet annually on a formal basis. In the interim the Trustees consider appropriate awards of grants in accordance with the terms of the Trust Deed. There are no employees of the Trust. The Trustees have the power to appoint additional Trustees.
Objectives, Activities and Public Benefit
The object of the Charity is the advancement of education, arts, culture and heritage in England, for the benefit of the general public and mankind. During the period since 1st April 2015 the Charity’s object has been pursued with consideration of grants to various educational and cultural causes.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives, managing the Trust's assets and considering applications for financial assistance.
Achievements and Performance
During the period from 1st April 2020 to 31 March 2021 a total of 8 grants were made amounting to £39,500.
Financial Review
One donation of £30,000 was received during the period; the Trustees are expected to continue to be the main source of income. Absolute Financial Services Ltd continue to manage investment of the charity’s reserves on its behalf. The funds are placed with Funds Network and at 31 March 2021 were valued at £254,338. The investment income in the year amounted to £3,036 and the unrealized capital growth in the year was £25,188. This produced a total return of £28,224 equivalent to 11.1% for the year.
Reserves Policy
Total reserves held at the year end were £254,338 (2020: £240,690) all of which are unrestricted. The unrestricted fund can be applied for the general purposes of the charity as set out in the governing document.
Going Concern
The Coronavirus pandemic is creating significant uncertainty and the charity is not immune to this although, at this stage, it is not possible to reliably forecast what the long-term impact of this may be. The trustees are confident, however, that the charity will be able to see through the current uncertainty. Therefore, it is the trustee’s opinion that the going concern basis of preparation of the accounts continues to be appropriate.
Future Plans
In the year ahead the Trustees plan to continue to pursue the Charity’s object by making monetary grants to appropriate good causes.
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EYRE FAMILY FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Risk Management
The Trustees have examined the major strategic and operational risks that the Charity faces and confirm that systems have been established for regular reporting so that the necessary steps can be taken to lessen those risks.
Declaration
We approve the attached accounts set out below for the year period ended 31 March 2021 and confirm that we have made available all the relevant records and information required for their preparation.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ J Eyre (Trustee) Date: 28-Jan-2022
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EYRE FAMILY FOUNDATION
INDEPENDENT EXAMINERS' REPORT
Independent examiner's report to the Trustees of Eyre Family Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity'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 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 28-Jan-2022
Janice Matthews FCA
Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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EYRE FAMILY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net expenditure before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 30,000 3,036 33,036 2,506 42,000 44,506 (11,470) 25,118 13,648 240,690 13,648 254,338 |
Total funds 2021 £ 30,000 3,036 33,036 2,506 42,000 44,506 (11,470) 25,118 13,648 240,690 13,648 254,338 |
Total funds 2020 £ - 3,152 |
|---|---|---|---|
| 3,152 | |||
| 2,120 67,190 |
|||
| 69,310 | |||
| (66,158) (8,569) |
|||
| (74,727) | |||
| 315,417 (74,727) |
|||
| 240,690 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
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EYRE FAMILY FOUNDATION
BALANCE SHEET AS AT 31 MARCH 2021
| Note Fixed assets Investments 8 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 10 Total funds |
24,337 24,337 (4,270) |
2021 £ 234,271 234,271 20,067 254,338 254,338 254,338 254,338 |
34,166 34,166 (2,100) |
2020 £ 208,624 |
|---|---|---|---|---|
| 208,624 32,066 |
||||
| 240,690 | ||||
| 240,690 | ||||
| 240,690 | ||||
| 240,690 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ J Eyre (Trustee) Date: 28-Jan-2022
The notes on pages 7 to 13 form part of these financial statements.
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies
1.1 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 2019), 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 fair' 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 (FRS 102) 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.
Eyre Family Foundation Eyre Family Foundation constitutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and have been rounded to the nearest £.
1.2 Going concern
The Coronavirus pandemic is creating significant uncertainty and the charity is not immune to this although, at this stage, it is not possible to reliably forecast what the long-term impact of this may be. The trustees are confident, however, that the charity will be able to see through the current uncertainty. Therefore, it is the trustee’s opinion that the going concern basis of preparation of the accounts continues to be appropriate
1.3 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 investment income is recognised at the time the investment income is receivable.
1.4 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.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's operations.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies (continued)
1.6 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.
1.7 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.
2. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2020 | |
| £ | £ | £ | |
| Donations | 30,000 | 30,000 | - |
3. Investment income
| Listed investments Bank Interest Total 2020 |
Unrestricted funds 2021 £ 3,035 1 3,036 3,152 |
Total funds 2021 £ 3,035 1 3,036 3,152 |
Total funds 2020 £ 3,147 5 |
|---|---|---|---|
| 3,152 | |||
4. Investment management costs
| Investment management fees Total 2020 |
Unrestricted funds 2021 £ 2,506 2,120 |
Total funds 2021 £ 2,506 2,120 |
Total funds 2020 £ 2,120 |
|---|---|---|---|
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
5. Analysis of grants
| Grants to Institutions 2021 £ Grants, Donations 39,500 Total 2020 64,500 The Charity has made the following material grants to institutions during the year: Southbank Sinfonia Woodrow High House Royal Botanic Gardens Kew Engineers without Borders Seven Stories Geffrye Museum Trust YMCA Reading Bucks County Museum Trust Second Chance Whizz-Kidz BACO Ashmolean Museum Wycombe Youth Action The Pace Centre Ltd National Theatre Archive |
Total funds 2021 £ 39,500 64,500 2021 £ 10,000 - - - - - - - 10,000 1,000 500 5,000 1,000 10,000 2,000 39,500 |
Total funds 2020 £ 64,500 |
|---|---|---|
| 2020 £ 10,000 5,000 5,000 1,000 10,000 5,000 8,500 10,000 10,000 - - - - - - |
||
| 64,500 |
6. Analysis of expenditure by activities
| Donations Total 2020 |
Grant funding of activities 2021 £ 39,500 64,500 |
Support costs 2021 £ 2,500 2,690 |
Total funds 2021 £ 42,000 67,190 |
Total funds 2020 £ 67,190 |
|---|---|---|---|---|
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Accountancy Fees Bank charges Total 2020 |
Donations 2021 £ 2,440 60 2,500 2,690 |
Total funds 2021 £ 2,440 60 2,500 2,690 |
Total funds 2020 £ 2,610 80 |
|---|---|---|---|
| 2,690 | |||
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £930 ( 2020 : £ nil).
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Fixed asset investments
| Cost or valuation At 1 April 2020 Revaluations At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Listed investments £ 208,624 25,647 |
|---|---|
| 234,271 | |
| 234,271 | |
| 208,624 |
.
| Material Investments Listed Investments Cash and cash equivalents |
2021 £ 134,300 99,971 234,271 |
2020 £ 106,539 102,085 |
|---|---|---|
| 208,624 |
9. Creditors: Amounts falling due within one year
| Trade creditors Other creditors |
2021 £ 2,238 2,032 4,270 |
2020 £ - 2,100 |
|---|---|---|
| 2,100 |
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EYRE FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
10. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 April 2020 £ 240,690 Balance at 1 April 2019 £ 315,417 |
Income £ 33,036 Income £ 3,152 |
Expenditure £ (44,506) Expenditure £ (69,310) |
Gains/ (Losses) £ 25,118 Gains/ (Losses) £ (8,569) |
Balance at 31 March 2021 £ 254,338 |
|---|---|---|---|---|---|
| Balance at 31 March 2020 £ 240,690 |
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
11. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 234,271 24,337 (4,270) 254,338 |
Total funds 2021 £ 234,271 24,337 (4,270) |
|---|---|---|
| 254,338 |
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 208,624 34,166 (2,100) 240,690 |
Total funds 2020 £ 208,624 34,166 (2,100) |
|---|---|---|
| 240,690 |
12. Related party transactions
During the year, no Trustees received any remuneration (2020 - £NIL). During the year, no Trustees received any benefits in kind (2020 - £NIL). During the year, no Trustees received any reimbursement of expenses (2020 - £NIL).
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