Charity registration number 1155696 (England and Wales)
THE ANGLO SA FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ANGLO SA FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr L S Blitz Mrs C L Blitz Ms T Blitz Mr J Blitz Charity number 1155696 Principal address Apartment 10 21 Belsize Lane London NW3 5AS Accountants R. Moore Esq Bright Grahame Murray Emperor's Gate 114a Cromwell Road London SW7 4AG
THE ANGLO SA FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
THE ANGLO SA FOUNDATION
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the The Anglo SA Foundation's governing document, the Charities Act 2011 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)”
Objectives and activities
The charitable objects of the Anglo SA Foundation, as approved by the Charity Commission, are the advancement of such charitable purposes as the Trustees in their absolute discretion consider appropriate. The aims of the charity are mainly to support other charities in their work by the granting of donations for either general use or specific projects, which reflects the purposes for which the charity was set up to further.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the The Anglo SA Foundation should undertake.
Public benefit
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives.
Achievements and performance
Donations of £Nil (2024: £44,000) were received during the period. The total amount donated by the charity in the period was £68,675 (2024: £109,540).
Financial review
At 31 March 2025, the Charity held reserves of £54,335 (2024: £108,679). The Trustees are of view that a sufficient level of reserves are required to be maintained in order to guarantee distributable income for the Charity. The level of reserves is reviewed on an annual basis.
Where the charity has made an ongoing commitment to make donations over several years, the total commitment is allocated to designated funds.
The income of the Charity derives mainly from interest receivable on its bank deposits and occasional large donations. The Charity does not rely on donations from the public.
The charity owns 100% of Anglo SA Investments Limited, an investment company. For the year ended 31 March 2025 Anglo SA Investments Limited made a profit of £67,390 (2024: £27,526) and the balance sheet showed net liabilities of £91,252 (2024: £158,642) at that date.
The Trustees have considered the major risks to which the Charity is exposed and established procedures to manage those risks. The major risk is that levels of donations granted may exceed available resources. This is managed by close monitoring of donations and resources.
The Charity intends to continue making grants to third parties in accordance with its objectives whilst ensuring that sufficient reserves are held to enable the Charity to continue its operations.
Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were:
Mr L S Blitz Mrs C L Blitz Ms T Blitz Mr J Blitz
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THE ANGLO SA FOUNDATION
TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
The Anglo SA Foundation is a registered charity, number 1155696, and was established under a Trust Deed dated 9 October 2013. The organisational structure is such that the Trustees are the officers of the organisation. There must be at least three trustees. Every trustee must be appointed by a resolution of the trustees.
There are no paid employees of the Charity and any work carried out is done by volunteers.
Independent examiner
Robert Moore FCA has been re-appointed as independent examiner for the ensuing year.
The Trustees report was approved by the Board of Trustees.
Mr L S Blitz
Trustee
Dated: 23 December 2025
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THE ANGLO SA FOUNDATION
ROBERT MOORE FCA ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ANGLO SA FOUNDATION FOR THE YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of The Anglo SA Foundation for the year ended 31 March 2025, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Anglo SA Foundation and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Anglo SA Foundation and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The Anglo SA Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of The Anglo SA Foundation. You consider that The Anglo SA Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Anglo SA Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Bright Grahame Murray
Bright Grahame Murray
Robert Moore FCA Accountants Emperor's Gate 114a Cromwell Road Kensington London SW7 4AG 23 December 2025
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THE ANGLO SA FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted funds Notes £ Income from: Donations and legacies 2 - Investments 3 17,152 Total income 17,152 Expenditure on: Charitable activities 4 71,496 Total resources expended 71,496 Net expenditure for the year/ Net movement in funds (54,344) Fund balances at 1 April 2024 108,679 Fund balances at 31 March 2025 54,335 |
Total 2024 £ 44,000 7,513 51,513 115,369 115,369 (63,856) 172,535 108,679 |
|---|---|
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THE ANGLO SA FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 Notes £ Current assets Cash at bank and in hand 453,561 Creditors: amounts falling due within one year 9 (399,226) Net current assets The funds of the The Anglo SA Foundation Unrestricted funds 10 |
2024 £ £ 507,905 (399,226) 54,335 54,335 54,335 |
£ 108,679 |
|---|---|---|
| 108,679 | ||
| 108,679 |
The financial statements were approved by the trustees on 23 December 2025
Mr L S Blitz Trustee
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THE ANGLO SA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
The Anglo SA Foundation is a registered charity established under a Trust Deed dated 9 October 2013. The Charity's registered address is 8-12 York Gate, London, NW1 4QG.
1.1 Basis of preparation
The accounts have been prepared in accordance with the The Anglo SA Foundation's governing document, the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016). The The Anglo SA Foundation is a Public Benefit Entity as defined by FRS 102.
The The Anglo SA Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the The Anglo SA Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the The Anglo SA Foundation has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Charitable funds
Unrestricted funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the Trustees, at their discretion, have created a fund for specific purposes.
1.4 Income
Bank interest receivable is included in the Statement of Financial Activities on an accrual basis.
Covenanted donations, gifts and legacies are included in full in the Statement of Financial Activities as soon as they are received.
Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for the services donated by volunteers.
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THE ANGLO SA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 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 are allocated on the portion of the asset’s use.
All expenditure is included in the Statement of Financial Activities on an accrual basis. Donations are payments made to third parties in the furtherance of the charitable objects of the Foundation, and are accounted for when the Trustees have agreed to pay the donation without conditions.
Governance costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulations and good practice.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the The Anglo SA Foundation’s contractual obligations expire or are discharged or cancelled.
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THE ANGLO SA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 2 Donations and legacies Total 2025 £ Donations and gifts - 3 Investment income Unrestricted funds £ Interest receivable 17,152 4 Charitable activities Charitable Donations Total £ £ Charitable Donations 68,675 68,675 Share of support costs (see note 5) 2,821 2,821 71,496 71,496 Analysis by fund Unrestricted funds 71,496 71,496 71,496 71,496 5 Support costs allocated to activities 2025 £ Bank charges 77 Computer running costs 1,525 Sundry expenses 1,219 Governance costs - 2,821 Analysed between: Charitable Activities 2,821 |
Total 2024 £ 44,000 |
|---|---|
| Total 2024 £ 7,513 |
|
| 2024 £ 109,540 5,829 |
|
| 115,369 | |
| 115,369 | |
| 115,369 | |
| 2024 £ 209 3,325 2,126 169 |
|
| 5,829 | |
| 5,829 |
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THE ANGLO SA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the The Anglo SA Foundation during the year.
7 Employees
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Amounts owed to subsidiary undertakings | 399,226 | 399,226 |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 108,679 | 17,152 | (71,496) | 54,335 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 172,535 | 51,513 | (115,369) | 108,679 |
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THE ANGLO SA FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
11 Subsidiaries
Details of the The Anglo SA Foundation's subsidiaries at 31 March 2025 are as follows:
| Name of undertaking | Registered | Nature of business | Class of | % Held |
|---|---|---|---|---|
| office | shares held | Direct Indirect | ||
| Anglo SA Investments | England and | Investment company | Ordinary | 100.00 |
| Limited | Wales | Shares |
12 Related party transactions
Creditors include £399,226 (2024: £399,226) due to Anglo SA Investments Limited, a wholly owned subsidiary of the charity.
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